The Risk Involved In Investing In Real Estate Finance Essay - Free Essay Example

Sample details Pages: 13 Words: 3851 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? When a person acquires real estate, she/he also acquires a set of rights, including possession, control and transfer rights. In order to achieve capital appreciation investment in real estate involves the commitment of funds to property with an aim to generate income through rental or lease. However, the real estate income can be highly unpredictable and consequently investment in real estate is very risky as it is the case with investment in equity. Don’t waste time! Our writers will create an original "The Risk Involved In Investing In Real Estate Finance Essay" essay for you Create order One of the main reasons for the collapse of even the largest financial institutions, in the recent times, leading to the recession of major economies of the world is due to the collapse of the real estate business. This global crisis could have been prevented if the potential risk factors leading up to it had been identified at an early stage. But the risk assessment associated with this strategic investment was not properly followed. Thus, in order to be able to increase chances of investments in real estate returning profitable margins, it is critical that risk factors are identified and a proper investment strategy put into place. 1.1 Real Estate Classification Mughees Shaukat in his paper (2010) defined real estate as land Buildings associated with it. This definition is used because land associated buildings are finite and can be used for transaction purpose. Procuring the Real Estate is used as a hedge for inflation. In his paper, he classified real estate into six categories: Residential Family housing, Apartments. Commercial Shopping centers, Malls, Clinics and Multiplexes etc. Industrial manufacturing plants, warehouses, etc., used by businesses for production and storage of goods. Office Office buildings, Towers. Hospitality Hotels and Resorts. Land Typically includes land without any buildings or agricultural land. 1.2 Returns on Investment ÂÂ  Sirmans, G Stacy (2001) in his paper observed the return patterns and classified returns in broad categories. He also concluded that the returns are dependent upon the market efficiency and argued that the microeconomic variables may help in measuring the variations in Real Estate Returns. 1.2.1 Returns from Housing Property: Case etal (1990) in their paper studied the single family home prices. His findings were the returns on investment are dependent on the location. For example, the metropolitan areas housing (flats/single housing) will have a better return than the rural areas. Also it is dependent on other factors such as income, population growth and material/construction cost. 1.2.2 Diversification and portfolio optimization benefits: Liang etal (1995) defined diversification and portfolio optimization benefit as the difference between the return on the portfolio and the required rate of return for the investments. Seiler etal (1999) on the same subject concluded that the return on real estate requires mixed portfolio. Some researchers questioned the wisdom of Seiler and remarked do the returns from real estate behave like stocks bonds?. However, the research by other researchers shows that the returns have low or negative correlation with other types of investment returns so the real estate adds significant diversification benefits to a mixed portfolio. 1.2.3 Inflation and real estate returns: It is a common belief that the performance of real estate value depends on the inflation. Wurtzebach etal (1991), studied on the impact of inflation on the value of assets. In their study, they showed that real estate does provide an inflation hedge. They concluded that when market imbalance occurs the risk increases and the returns suffer regardless of inflation. Rubens etal (1989) in their paper stated that Real Estate hedge against inflation depends on the type of real estate. Other studies also showed that mix of commercial and residential properties provide a better inflation hedge. 1.3 Risk Classification Any investment requires certain strategies to handle risks. Real Estate investment is of no exception. The risk of investment in properties depends on the type, location and the status of the property in terms of its development. Giliberto, (1993) in his paper classified the risks as Low Risk-properties in major metropolitan cities with stable long-term cash flow. For example, leased office buildings in metropolitan cities. This is because tenants are usually signed to multi-year leases. Moderate Risk- properties with less predictable cash flows, either as a result of their location, or their status. For example, a shopping center in the process of being leased up or an older mall in need of complete renovations and re-leasing; etc. or Hospitality properties as their cash flow is less predictable because the guests in a hotel sign up very short-term leases when reserving a room. High Risk- properties with limited or no cash flow, because of their current status where the i nvestments tend to be in longer term which requires a greater degree of skill in execution. They also tend to provide the greatest return over the long term. 1.4 Risk Assessment There have been lots of academic studies and articles on the ways of increasing the efficiency of Real Estate Investment. The academicians have studied both at micro and macro level. The ideas of real estate risk management comes under the domain of financial transactions with regard to properties buy or sell at an opportune time where it could provide high yield. Real estate investment exposed to different risks. Some of the researchers have advocated for the creation of Real Estate Investment Trust (REIT). They also advocated the selection and portfolio construction criteria should be based on operating efficiency. Markowitz (1952) developed Modern Portfolio Theory (MPT) , which is based on simple assumption that the risk is defined as volatility (price fluctuations). As per MPT, the investors are willing to take more risks when there is a chance for more profit. Initially the researchers and academicians found this logic is compelling as it is easy to understand it als o makes perfect sense. The MPT is based on certain assumptions. Some of the important assumptions are: The investor do not consider buying / selling cost, tax , dividend and capital gains while making investment decisions Market liquidity is infinite. The investors are aware of all the risks; for more volatility the investor will look for more return. Selling of assets is only motivated for higher rate of return in a shorter time span. Politics and investor psychology have no effect on the markets. Now the question became how to determine the expected returns, volatility and correlations between them? Markowitz assumed these questions. His recommendation was to keep or watch the market data for some time. However, he had hoped better methods which will take into account more information. But after 60 years still today the researchers do not have a definite methodology to tackle this problem. 1.4.1 Arguments by other researchers on MPT Jose Castro (2008) in his paper argued that that the risk of a portfolio can be minimized without reducing the expected return when there is a low correlation between the fixed assets. The reason he cited that the risk is quantifiable but can be classified in two segments parts: Systematic risk, which cant be ignored, Diversifiable risk which is the component of an asset that is not linked with the market, which is called Idiosyncratic Risk. Young Graff (1995) while assessing Real Estate Risks used MPT in their research and observed that the strategic risks on investment can be minimized by combining different stocks for investment. For example, Webb and Okeefe (2002) suggested that 10-20% of total stocks should be of real estate. The rest should be into bonds, currencies, international stocks bonds. Brown (2000) in his paper extensively worked on the use of MPT which can be used in Risk Assessment. Brown was the first one who introduced the concept of three tier real estate based on public private use. Simons et al (2002) took this research one step further by reviewing literatures on international direct real estate investment and tried to analyze how the real estate portfolios are being analyzed. Anderson (2003) extensively studied the works of other researchers (Anderson etal 2000) on the risk of Real Estate Investment both at the macro and micro level. They defined that at the macro level the competition in the real estate market makes the risk minimum. Whereas at micro level, the risk is greater if the market is inefficient. They then advocated that the strategic risk may be minimized by establishing diversified real estate portfolios. Brown (2004) investigated the risk in real estate investment by conducting theoretical and empirical analysis of risk and returns accruing to individuals who were involved in real estate investments. He claimed that the returns are not normally distributed and that private real estate investors compensate for the distribut ional burdens imposed by market upon them by carefully assessing and controlling unavoidable non-systematic risk. Hutchison etal (2005) in their paper argued that the risks in real estate investment is attributed to the valuation of property done by the valuers. This means, the risk assessment measures need to be more rigorous to minimize the risk of investment. Therefore, they suggested that an investor is exposed to many risks notably valuation accuracy valuation variance. The authors also suggested that the real estate investment has certain forms of risks in terms of valuation of the property. They recommended that investment risk will be minimized by improving the valuation methods. The authors then defined investment risk as the probability that the cash flows and the resulting target rate of return will not be realized. Earlier both empirically and theoretically researchers have analysed risks and returns. Area of common interest is performance of investment and the as sociated risk which is found in both commercial and individual real estate. Researchers do agree that real estate do provide an inflation hedge. It is also a general belief that real estate assets provide a protection blanket against any sorts of negativity that may creep in due to unexpected inflation. The question now comes how to minimize the risks of investment? Nitish (2006) in his paper cited that choosing a prime location will be the main component for minimizing investments. To substantiate his argument he developed a price model based on the structure, location and rent of various cities in Germany. However, it does not fully assess the elements of risk fully. Even though MPT is the major breakthrough in the financial world some real estate researchers have tried to use this theory with some mixed reservations, because in MPT the risk is not properly represented by volatility. Another reservation is that portfolio selection building too often rely on the past perform ance. In other words, MPT requires three types of data. They are: Future return potential of each portfolio Correlation of each portfolio with another Volatility of each portfolios H. Mohd Ali (2006) in his research paper has done extensive investigation and found that MPT without major modifications cannot be used as is risk assessment in real estate. Cotter etal (2006) in their paper argued that the inclusion of REIT equity options will increase the fund flow. They observed that real estate prices are subject to inflation and requires hedging against inflation. Their model on REIT daily volatility has become very useful tool in managing real estate risk. McGreal etal (2009) have made an extensive study in risk management in real estate for both UK USA. Their summarization is that there is a need for diversifying the investment portfolio in order to reduce the risk. Diavatopoulos etal (2010) examined the effect of real estate risk management by examining the c haracteristics of REIT equity options. Their analysis showed that in 1996 only 5% of REIT had traded options increases to 35% by 2006. This proves that the REIT traded option has become a useful tool in real estate risk management. 1.5. Volatilities in Real Estate investment There have been lots of studies undertaken by the researchers on the fluctuations or volatilities of the real estate market in order to minimize the risk in real estate investment. Hung et al (2009) in their paper studied the relationship between the different type of volatilities by using a mathematical model (GARCH-in -model) on the returns using the concept of REIT. Their findings were: Momentum returns has asymmetric volatility Momentum returns are higher when the volatility is higher REIT with lowest past returns has higher risks than those with higher past returns. There is a positive relation between asset returns and aggregate market volatility. In essence, when the volatility is high the investors require higher returns for their investment to mitigate the inflationary pressures. 1.6 Standard Practices in Real Estate Risk Management As noted above the standard practice in real estate risk management has been to work with REIT indices mixed with various equity indices. However, this does not consider the basic question on when to buy a real estate property and when to sell the same. 1.7. Why is this Research? The activities of risk management in real estate investment are largely similar to the activities of financial methods. However, by surveying the available literature material it can be concluded that the following factors are ignored. 1.7.1. Large commercial properties have been widely studied. Little has been done on medium sized real estate risk analysis (see Brown (2004)). 1.7.2.Most of the research papers have also devoted their tools and their methodologies relate to stock market investments. However, none of them pinpoint the risks of investment which can be used by any investor to: Identify the sources of risk Measure and monitor those risks Devise an approach to control, mitigate or hedge The extreme important effects of real estate asset on savings and portfolio choice are undeniable. Moreover, the effect of real estate on consumption is significant and larger than the effect of financial assets (Fei 2009). Furthermore, the volatility of real estate pri ce is one of the key determinants of the options value realized by mortgage default and prepayment. The risks of real estate market will affect mortgage and mortgage related securities market and consequently as well as the institutional investors since they usually hold a notable part of their funds invested in mortgage related securities. Quite recently the financial market turmoil driven by the sub-prime mortgage and credit crisis has indicated again that the variations in housing market are extremely crucial to overall economy, the mortgage capital markets and the welfare of the society. In light of the above, the thesis addresses the questions when and what percentage of the share of a real estate project needs to be procured, when and what share of a real estate project to be sold, and when to completely withdraw from a real estate project. The scope of the paper will be limited to issues related to real estate owners requiring partnership mode of operations. Th e related issues that will be discussed are (a) the pattern of the volatility of real estate market, and (b) the growth pattern of the real estate investment process that will be developed in the paper. 1.8. Research Aim and Objectives The aim of this research is to develop a dynamic risk sharing model which can be applied by any individual investor who would like to know when and how much share of the real estate property to purchase and when and how much of the same to sell so that the risk is properly mitigated and yet earn a good margin. Objective 1: Develop an in-depth understanding of all the aspects in real estate risk management process. Objective 2: Construct a functional model based on the information gained through the available published /unpublished literature which will be used to update the estimates of the risk element in real estate investment. This model, an alternative to MPT Model, will help an investor to design Operating Rules and implement the same. Objective 3: Propose a methodology management process which can be used for using the model in calculating the risk. 1.9 Methodology Adopted in this Thesis The data that is required to develop the Operating Rules in real estate management is the time series data on real estate prices. The basic unit of return measurement is the incremental difference between current years and previous years prices, .. .. .. .. .. .. .. .. .. .. .. (1) where x(t) is return in the beginning of year t, P(t) is price in the beginning of year t and P(t-1) is price in the beginning of year t-1. The investor in financial assets has very little to do with how current years price of a stock differs from last years. Private real estate offers the opportunity for an investor to have a say in its value by adding his own management to the equation. Thus, by adding entrepreneurial labor to his investment, the private real estate investor/operator may positively influence P(t) and achieve a greater return. Of course, this means that a portion of the return we observe represents a return on the investors time as well as on his invested capital. Such a reality a dds yet another reason to the list describing why real estate is different. Unfortunately, there is no standard time series data on P(t) available in the form required for this study. The basic reason, amongst many others, is design variations that can be noted for different real estate properties. Prices of real estate vary from property to property even in the same geographic locality. There is no standard price pattern available for one to develop the Operating Rules. Pyhrr et al (1990) discussed developing dynamic investment strategy under alternative inflation cycle scenarios since real asset prices and inflation are highly correlated; but their discussion was not supported by proper data. Furthermore, their analysis is limited to comparing the outcomes of various investment periods. Any attempt in this direction has to be property specific. However, basic indicators for movement of real estate price are based on macroeconomic factors of a country or a geographical region. I n this regard many authors developed indices especially in the context of mixed-asset portfolios. From these indices one can get an idea of the trend of the prices and corresponding variability in addition to measures of covariance between real estate prices and stock prices. Accordingly, an attempt will be made in this thesis to develop a mathematical model for Pt, which will be used for simulating the effects of various Operating Rules. The model parameters will be estimated using varieties of results available in the literature in conjunction with methods based on value judgments to incorporate entrepreneurial labor mentioned above. In view of the above, an important consideration will be to enhance the core competencies in risk management. The first step in this regard is to develop a risk-shared dynamic mathematical portfolio selection model for real estate business to be used by private real estate investors. Using this model and simulation select Operating Rules to b e adopted by an investor. Based on the outcome of the simulation, a strategy for implementation for the selected Operating Rules will be developed. This will then lend immunity to any private investor against market instability, and other macro factors which influence the real estate market to a certain extent. This will help the investors who would like to share the risk with his partners as well as earn a good margin. Real-life data will be collected and will be used to test and validate the model. Last, strategies for implementation will be developed. 1.9.1. Validation In order to test and validate the mathematical model that will be proposed as an alternative to the MPT risk model, real world data needs to be gathered. The nature of the data to be collected is shown in chapter 5. Appropriate statistical methods and techniques like sampling, regression, analysis of variance, etc., whichever applicable, will be used to estimate the parameters of the model and test the reliability of the same. Next, appropriate non-linear mathematical programming technique that deals with dynamics of decision making will be used to derive the operating decision rules. Extensive simulation will be carried out to test the sensitivity of the parameters involved in the mathematical model and establish the limits of the operating policies. The statistical analysis will eventually be used to test the validity of the mathematical model using the European countries as empirical data. Furthermore, the rules for updating the estimates of the parameters from time to time will take into account the global perspectives that will be developed. In addition, strategies for the using the operating decision rules will be developed. 1.10 Road Map Chapter 1 deals with real estate investment scenario along with risks that are associated with real estate investment. This chapter also aims and objectives, methodology and research approach. Chapter 2 presents a review of the existing literature detailing the hypotheses used and statistical and mathematical models used by the researchers in the past. Chapter 3 presents the detailed description of the methodology how the data will be collected which will be the back bone of dynamic risk-sharing mathematical model. Chapter 4 presents the nature of the data collected and the methodology used for estimating the various parameters used in the mathematical model and test their sensitivity using appropriate hypothesis testing techniques. Chapter 5 presents the operating rules derived by using appropriate non-linear mathematical programming technique. Chapter 6 presents the sensitivity analysis of the parameters and the limits of the operating decision rules using simulati on methodology. Chapter 7 gives the strategies to be adopted for using the operating decision rules and the procedures for updating the parameters from time to time as required. Finally, conclusions and future direction of studies are presented in Chapter 8. LIST OF ORIGINAL PAPERS The following papers have been reviewed: Mughees Shaukat, (2010). The Benefits and Importance of Commercial Real Estate, MPRA Paper Number 28268, posted 20, January 2011. Sirmans, G Stacy (2001). Returns and Risk on Real Estate and Other Investments: More Evidence. Journal of Real Estate Portfolio Management. Vol. 7, No. 3, 2001. Case and Shiller (1990). Returns and risk on real estate and other investments: More evidence Journal of Real Estate Portfolio Management. July 1, 2001 Liang etal (1995), Seiler etal (1999), Wurtzebach etal (1991), Giliberto, S. M., Measuring Real Estate Returns: The Hedged REIT Index, Journal of Portfolio Management, Spring 1993 Jose Castro (2008) Young and Graff (1995). Real estate portfolio analysis under conditions of non-normality: The case of NCREIF.Journal of Real Estate Portfolio Management Webb, B and OKeefe, J. (2002) The Case for Global Real Estate, Working paper published by UBS Global Asset Management Simons et al (2002), R.I. Anderson, (2003), Journal of Real Estate Portfolio Management. R.I. Anderson and T.M. Springer (2005). Investor Perception of Retail Property Risk: Evidence from REIT Portfolios, Journal of Shopping Center Research, 12: 104-120 Roger J. Brown, (2004). Risk and Private Real Estate Investments Journal of Real Estate Portfolio Management. N.E Hutchison (2005), Nitish (2006), Hishamuddin Mohd Ali (2006). Modern Portfolio Theory: Is There Any Opportunity for Real Estate Portfolio? Cotter, J . and S . Stevenson. Multivariate Modeling of Daily REIT Volatility. Journal of Real Estate Finance and Economics, 2006, 32:3, 305-25. Stanley McGreal, Alastair Adai r, James R. Webb (2009). Optimal Diversification in U.S./U.K. Private Real Estate Only Portfolios: The Good, the Bad, and the Uncertain. Journal of Real Estate Portfolio Management .1083-5547 Diavatopoulos, D., J. Doran, and D. Peterson. The Information Content in Implied Idiosyncratic Volatility an d th e CrossSection of Stock Returns: Evidence from the Option Markets. Journal of Futures Markets, 2008, 28:11, 1013-16. Szu-Yin Kathy HungÂÂ  andÂÂ  John L. Glascock (2009). Volatilities and Momentum Returns in Real Estate Investment Trusts. The Journal of Real Estate Finance and Economics. Volume 41, Number 2,ÂÂ  126-149 Fei 2009 (Refer Dr.Sinhas Chapter 3) Pyhrr et al (1990) (Refer Dr.Sinhas Chapter 3)

Essay on Slaughterhouse Blues Book Review - 1587 Words

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Bio 30 4th Exam Reviewer Free Essays

string(28) " have been due to mutation\." BIO 30 4TH EXAM REVIEWER Merlyn S. Mendioro Delayed and Extra-chromosomal Inheritance 1. ) Genetic factors that are located outside the chromosome: plasmagenes, plasmons, cytogens, plasmids. We will write a custom essay sample on Bio 30 4th Exam Reviewer or any similar topic only for you Order Now 2. ) Plasmid inheritance implies: perpetuation through DNA Replication. 3. ) Killer gene particulate material in Paramecium aurelia: kappa 4. ) Mirabilis jalapa shows extrachromosomal inheritance in the ___________. When a pale male parent is crossed with a green female the result usually is __________. : chloroplast, green 5. Hereditary mitochondrial diseases are transmitted only through the ____________ line since ______________ can hardly contain mitochondria. : maternal, spermatozoa 6. ) Gradual loss of the ability to control eye movement: Progressive External Ophthalmoplegia 7. ) Occurs during childhood characterized by a combination of anemia, reduction of all blood cells, dysfunction of the pancreas, liver and kidneys: Pearson Syndrome 8. ) Cytoplasmic nuclear male sterility: 9. ) Mothers transmit virus-like particles called sigma. What is this? Infective Heredity 10. Extrachromosomal particles/plasmids free of the host organism or integral of the organism chromosome that are infective. For example E. Coli’s fertility trait. 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Heritability 12. ) Why is heritability in the narrow sense important to plant breeders? Because it indicates that the selection of parents bearing particular measurements that are favorable will produce offspring of similar phenotype. They want favorable traits to be passed on to the next generation as intact. 3. ) Why is heritability in the broad sense important to human geneticists? Because they want to know how much an individual’s phenotype is affected by his genotype. They want to assess the relative influence of the genotype and environmental factors. Population Genetics 1. ) It studies the genetic constitution of populations and how this genetic constitution changes from generation to generation. Population Genetics 2. ) A community of sexually interbreeding or potentially interbreeding individuals sharing a common gene pool. Population 3. Refer to the proportions of the different alleles of a gene in a population. Gene frequencies. 4. ) The sum total of genes in the reproductive gametes of all the individuals in a population. Gene Pool 5. ) The formulators of the Hardy Weinberg are: Godfrey Hardy and Wilhelm Weinberg 6. ) State the Hardy-Weinberg Equilibrium: The frequency of the dominant and recessive alleles remained constant at whatever value applied to the previous generation. 7. ) State the factors that disrupt the Hardy-Weinberg Equilibrium: Mutation, Selection, Migration, Genetic Drift 8. Mutation occurs only in one direction, False 9. ) What are the three basic kinds of selective effects? Stabilizing Selection – tends to eliminate the phenotypic extremes Directional Selection – one of the extremes in the phenotypic range becomes most fit and thus it is preserved. Disruptive Selection – Both extremes of the phenotypic range are selected for. 10. ) Selection is both a long term and a short term process. True 11. ) The reproductive success of one phenotype as opposed to alternative phenotypes. Fitness 12. ) The force acting upon a phenotype to reduce its fitness or adaptive value. Selection Pressure. 13. ) Selection against a genotype may occur either in gametes or in zygotes. True 14. ) In this selection, there is no difference between the dominant and the recessive alleles since both genotypes are phenotypically expressed. Gametic Selection 15. ) In this selection, three possible genotypes for a single gene difference are observed. Zygotic Selection. 16. ) A situation where two or more forms of a population coexist in the same habitat in such a proportion that even the least frequent form could not have been due to mutation. You read "Bio 30 4th Exam Reviewer" in category "Essay examples" Balanced Polymorphism 17. ) A type of assortative (non-random) mating where mates are more closely related to each other. Inbreeding 18. ) This is where inbreeding brings out deleterious recessive genes that were previously concealed by their dominant alleles. Inbreeding Depression 18a. ) Sample Question: Why is human mating in relatives forbidden by law? Because of deleterious recessive infirmities. There is a large chance for a concealed gene say lethal gene to be expressed when you breed with a relative rather than random mating individuals. 19. The effects of inbreeding depression can be reversed by? Hybridization 20. ) Hybrids show marked increase in fitness: increased size, fertility etc. This is called as? Hybrid Vigor/Heterosis. 21. ) When there is migration, two factors are important to the recipient population. What are they? The difference in gene frequencies between two populations and the proportion of migrant genes that are incorporated each generation are the two facto rs. 22. ) A non-directional force that changes gene frequency in an unpredictable rate from generation to generation. Genetic Drift 23. The number of parents in the population which is important in determining genetic drift. Effective Population Size 24. ) Severe reduction in population size due to a deleterious, external event. Bottleneck 25. ) A small part of the population moves to an uninhabited area. Founder’s Effect. 26. ) Defined as populations of organisms that differ in the relative frequency of some genes or genetically distinct populations of the same species. Races 27. ) Defined as a group of interbreeding natural populations that are reproductively isolated from other such groups. Species 28. In separate groups (Allopatric) or within an area of overlap (Sympatric), speciation can take place by chance. 29. ) Prevent the formation of hybrid zygotes. These include ecological, temporal, behavioral, mechanical and gametic isolation. Prezygotic barriers. 30. ) Conseque nces of genetic incompatibilities or nuclear-cytoplasmic irregularities. Postzygotic Barriers. 31. ) 5 Types of Isolation (Pre-Zygotic Barrier): Habitat Isolation, Temporal Isolation, Behavioral Isolation, Mechanical Isolation, Gametic Isolation. Habitat Isolation – organism, isolated from others by habitat. Temporal Isolation – organism, is not in right time for reproduction. The mates are only reproducing in other timeframes. Behavioral Isolation – Sexual attraction is weak or absent between sexes. Mechanical Isolation – Pollen, gametic transfer is rendered physically impossible because of differences in size or structure of the reproductive organs. Gametic Isolation – The male and female gametes fail to fuse or the spermatozoa or pollen are inviable. 32. ) 3 Kinds of Post-Zygotic Barriers. Hybrid Inviability – hybrid zygotes fail to develop, or fail to reach sexual maturity. Hybrid Sterility – hybrids fail to produce functional gametes. Hybrid Breakdown – The viability or fertility of the hybrids is greatly reduced. 33. ) Speciation that is faster which are due to chromosomal changes. Rapid Speciation Human Genetics 1. ) The affected individual through whom the pedigree is discussed. Proband 2. ) 22II + XX/XY + I21/Trisomy 21 Down’s Syndrome 3. ) 22II + XX/XY + I16,17,or18, or Trisomy in either 16, 17, 18th chromosome. E Trisomy 4. ) 22II + XX/XY + I13,14,or15 or Trisomy in either 13, 14, 15th chromosome. D Trisomy 5. ) Sex chromosome Aneuploid. 22II + XO. 9% of affected fetuses die before birth. Sexually Infantile. Turner’s Syndrome 6. ) 22II + XXY. Mental Retardation, Rambling talkativeness, dependent, submissive, rudimentary testes. Klinefelter’s Syndrome 7. ) 22II + XXX. Tallness, menstrual irregularities, Subnormal Mental Abilities. Triplo X Syndrome 8. ) 22II + XYY. Violent Behavior. Acne. Speech and Reading Probl ems. Jacob Syndrome 9. ) 22II + Xy. Has both ovary and testes. Mentally retarded. Has congenital anomalies. Hermaphrotidism 10. ) 5p-. Deletion on the terminal end of the 5th Chromosome. Small Epiglottis. Cat-like cry. Cri-du-chat Syndrome 11. ) No dystrophin synthesized. Deletion of a small segment in X chromosome. Duchenne Muscular Dystrophy 12. ) Lesser dystrophin synthesized. Becker Muscular Dystrophy 13. ) Reciprocal translation of chromosomes 2 and 20. Alagille Syndrome. 14. ) Translocation involving chromosomes 9 and 22 resulting in chronic myelogenous leukemia. Philadelphia chromosomes. 15. ) Genes that convert normal cells into cancer cells. Oncogenes 16. ) Accumulation of galactose in blood. Consequences include muscle weakness, mental retardation, and liver disease. Galactosemia. 17. ) Resistance to malaria but has severe hemolytic anemia. Favism/Primaquine Sensitivity. 18. ) PKU stands for. Phenylketonuria. 19. ) Normal hemoglobin A is replaced by abnormal hemoglobin S. Substitution of amino acid valine for glutamic acid. Sickle Cell Anemia. 20. ) Persistence of fetal hemoglobin. Too few beta globin chains. Thalassemia. 21. ) Caused by a deletion of a single amino acid of the CFTR. Lung infection. Pancreatic insufficiency. Cystic Fibrosis. 22. ) Predisposition to allergy was found out in a single dominant gene in the long arm of? Chromosome 11 23. Loss of ability to organize thoughts. Was found out to have a heritability of 80%. A normal person can have this by living with someone who has this. Schizophrenia 24. ) 2 Common Eating Disorders. Anorexia Nervosa/Bulimia Nervosa 25. ) Eating disorder where males see themselves as too small and they take more amino acid. Bigorexia/Muscle Dysmorphia. 26. ) Has a high heritability of 40-60%. Gene for do pamine contributes to this too. Drug Addiction 27. ) Environmental effect on IQ declines as an individual advances in age. The heritability of an adult IQ is 80%. True 28. The candidate gene for intelligence. N-CAM (Neural Cellular Adhesion Molecule) 29. ) The candidate chromosome for intelligence. 4 30. ) Republic Act No. 9288. Newborn Screening Act 31. ) Disorders included in Newborn Screening: Congenital Hyperthyroidism Congenital Adrenal Hyperplasia Galactosemia Phenylketonuria Glucose 6-Phosphate Dehydrogenase Deficiency Genetic Engineering and Biotechnology 1. ) Steps in Recombinant DNA Technology. Restriction Endonuclease/DNA Ligase Cloning Vehicle/Vector Functional Host Multiplication of Recipient Cells. 2. ) Initial success of Recombinant DNA Technology. Insulin in E. Coli 3. ) HUGO stands for. Human Genome Mapping Organization 4. ) The technique of DNA fingerprinting involves the use of. Restriction Fragment Length Polymorphisms 5. ) DNA Markers Useful in Genome Mapping RFLP Tandem Nucleotide Repeat Markers Polymerase Chain Reaction Based Marker Random Amplified Polymorphic DNA Simple Sequence Repeat (SSR) Single Nucleotide Polymorphism 6. ) Executive Order 514 series of 2006 established? National Biosafety Framework 7. ) NCBP stands for. National Committee on Biosafety of the Philippines. Bonus Questions on Human Genetics . ) People with urine that smells like Maple Syrup. Maple Syrup Urine Disease 2. ) Have formation of plaque on the inner wall of coronary arteries. Angina. Arrythmia. Heart Failure. Shortness of Breath. Coronary Heart Disease 3. ) Manifested absence of polyuria, normal/slightly decreased concentrating urine ability. Autosomal Recessive. Gitelman’s Syndrome 4. ) Microcephally. Synephrys. Thick Eyelashes. Sho rt Upturned nose. Downturned lips. 1 to 10,000 to 30,000. Cornelia de Lange Syndrome 5. ) Neurodevelopmental disorder that affects girls exclusively. Has 4 stages. Last stage is scoliosis and the loss of walking ability. Rett Syndrome 6. ) Experience accumulation of glycogen that leads to progressive weakness of the muscles. Ventilator dependence. Pompe Disease 7. ) Mean age of 36. Mean survival after diagnosis is 2. 8 years. Dyspnea. Fatigue. Syncope. Chest Pain. Edema. Familial Pulmonary Arterial Hypertension (FPAH) 8. ) Has a multifactorial inheritance pattern. Chronic disease characterized by recurrent attack of breathlessness and wheezing. Allergic and Respiratory Asthma 9. ) Excessive Hunger. Excessive thirst. Frequent Urination. Weight Loss. Diabetes Mellitus Type 2 10. ) Nearsightedness or shortsightedness. Myopia 11. ) Autoimmune disease that can affect any part of the body. It is caused by the malfunction of the immune system. Systemic Lupus Erythematosus (SLE) 12. ) Bloating. Stomach Cramps. Flatulence. Slight Nausea. Diarrhea upon intake of lactose. Lactose Intolerance 13. ) Neurodegenerative disease that commonly affects people over the age of 60. Parkinson’s Disorder 14. ) Sporadic, non-contagious multifactorial disease in which progressive, patchy or loss of pigmentation of skin, overlying hair, and often mucous membranes. Vitiligo 15. ) Congenital Paresis (Paralysis of the Face). Inability to suck. Excessive Drooling. Moebius Syndrome 16. ) Small head circumference, high pitched cry, seizures increased. Microcephally 17. ) Average intelligence. Speaking in monotone. Develop intense interest in a particular subject. Asperger Syndrome 18. ) Generalized blistering and mucosal involvement present at birth. Non Herlitz Junctional Epidemolysis Bullosa 19. ) Manifestations of bone fracture, without known trauma, bone deformity and blue sclera. Osteogenesis Imperfecta How to cite Bio 30 4th Exam Reviewer, Essay examples

Arguments Against Chinua Acebes An Image of Africa Racism in Conrads Heart of Darkness free essay sample

Literature and Composition 6 March 2013 An Image of Africa: Not Racism in Conrad’s ‘Heart of Darkness’ People of dark skin have been wrongly discriminated against by racists for hundreds of years. From the first time Europeans stepped onto Africa and deemed black skin inferior till now, black people have been fighting for the right to be called equal. During the last century Africans have made great strides in fighting against racism. Many black leaders have risen up and confronted those racist against them. However, there are also times when people have gotten up in arms and have attacked others over misunderstandings. An example of this is Chinua Achebe’s essay â€Å"An Image of Africa: Racism in Conrad’s ‘Heart of Darkness,’† in which he attacks Joseph Conrad’s Heart of Darkness. In his essay, Achebe presents several reasons as to why Conrad is racist in his novel and why Conrad is a racist himself. Although Achebe is a celebrated author and is called the â€Å"father of African literature,† his reasons for calling Conrad and his book racist are unjust and flawed. Although his essay is titled, â€Å"Racism in Conrad’s ‘Heart of Darkness,’† Achebe sets out to prove that both Conrad and his book are full of racism. To do this he opens his essay by stating that Heart of Darkness creates an image of Africa as the opposite of civilization; the opposite of Europe. Afterward, he makes several points to prove Conrad’s racism. Achebe heavily criticizes Conrad’s diction and questions the use of certain words. He states that Conrad enjoyed things that stayed in their place, implying that Conrad wanted black people to â€Å"stay in their place† under the white man. He says that because the main character, Marlow, is racist, Conrad is racist. He chastises Conrad’s depiction of the continent even though he has been there himself. Achebe even brings in different sources to prove Conrad’s racism, managing to use quotes from the missionary Albert Schweitzer to support his argument. Although the amount of evidence Achebe has is plentiful, many of his assertions are exaggerated, extreme, and just incorrect. Many of his arguments have one of two things wrong about them; he either has faulty logic or fails to take into consideration crucial factors that happen to contradict his ideas. Throughout his essay, Achebe continually presents ideas that have numerous flaws and can be very easily argued against. One of Achebe’s main ideas behind his essay is the idea that Marlow’s and Conrad’s thoughts and racisms are one in the same. He believes that Conrad’s attempt to distance the ideologies of Marlow and himself through the use of two narrators is â€Å"totally wasted because he neglects to hint however subtly or tentatively at an alternative frame of reference by which we may judge the actions and opinions of his characters† (Achebe 5). It is a good thing Achebe did not pursue a career in law because he has deemed a man guilty on the charge that he has not declared himself innocent. Simply put, Achebe believes that because Conrad has not given another source from where his character’s opinions could have come from, those opinions must have come from his frame of reference. Achebe is simply jumping to conclusions without proper evidence. He does this several more times while making a lengthy argument about how Conrad’s depiction of Africa is racist. When Conrad describes Africa Achebe argues that he makes it far too primordial than it should be. He supports this idea by presenting an event that happened shortly after Conrad wrote his book. An event in which a European man is given a mask by a native, who then shows the mask to Europe’s top artists. Achebe then says, â€Å"The event [†¦] marks the beginning of cubism and the infusion of new life into European art [†¦. ] The point of all this is to suggest that Conrad’s picture of the people of Congo seems grossly inadequate† (8). This is another example of Achebe jumping to conclusions. While fine art is a symbol of refinement and sophistication in Western countries, the same cannot be said about Africa. The art of one tribe does not make all of Africa more civilized and refined if other tribes continue to cannibalize each other. It makes no sense for Achebe to stretch his information so far to come to this conclusion. It also makes no sense for Achebe to question Conrad’s description of the continent while Conrad has made the trip into the country. Achebe says, â€Å"I will not accept just any traveler’s tales solely on the grounds that I have not made the journey myself† (7). Achebe has never been to the Congo like Conrad has, yet he has the audacity to question what Conrad witnessed there while Achebe’s father was a baby. Achebe accuses Conrad of depicting Africa incorrectly without having ever having stepped foot into the continent, which makes him even more clueless to the Africa of Conrad’s age. He declares that Conrad of making Africans seem more savage than they actually were, while unable to even imagine how they were so long ago. Achebe charges Conrad with racism and ignorance while completely dismissing his own. Although Achebe is a celebrated author, at many points during this essay his arguments are weak, even pathetic because of the irrational conclusions that he comes to. This gives a preview to the carelessness of his essay that becomes evident upon further inspection. In his essay Achebe seems to forget to (or chooses not to) discuss many factors that go against his argument. He states that Conrad enjoys things that stay in their place. Achebe believes that the African’s proper place is found when Conrad writes about Kurtz’s African mistress. He says, â€Å"She was a savage and superb, wild-eyed and magnificent [†¦] She stood looking at us without a stir and like the wilderness itself, with an air of brooding over an inscrutable purpose† (142). According to Achebe, Conrad believes that the African’s place is one that is wild and close enough to look at from â€Å"civilization† but distant enough to be separated well. Thus, Achebe implies that Conrad wants Africans to stay in their proper place, where the wildness is far from the Europeans. However, this argument is invalid when considering how Marlow feels about Kurtz. Marlow is unsure about how to feel about Kurtz, but he certainly does not hate Kurtz and has decided to side with Kurtz at the end of the book, so it can be assumed Kurtz is closer to Marlow’s good side than not. However, Marlow describes Kurtz as having no place. He says, â€Å"There was nothing either above or below him, and I knew it. He had kicked himself loose of the earth† (149). Marlow says this because he knows Kurtz is between Europe and Africa. Kurtz has no real place in the world, but Marlow has sided with him. Since Achebe has equated Marlow’s thoughts to Conrad’s, Marlow should hate Kurtz, but he does not. Thus, when Kurtz is taken in as a factor this argument is null and void, much like when Achebe attempts to compare Albert Schweitzer to Conrad. Achebe writes, â€Å"Albert Schweitzer, who sacrificed brilliant careers in music and theology in Europe for a life of service to Africans in much the same area as Conrad writes about, epitomizes ambivalence. In a comment which has often been quoted, Schweitzer says, ‘The African is indeed my brother but my junior brother’† (5). He then continues to criticize Conrad for only go as far to call the African his kin, not his brother. By the standard of Achebe’s day this sentiment could most definitely be considered racist; however, Achebe fails to take into account the simple fact that the standards of his day cannot be applied to Conrad. Conrad is from a much different time, where white men were raised to believe that black men were under them. For him to consider them kin is already a radical thought. Achebe seems to want to ignore the fact that he is criticizing a book written seventy years prior, as he makes this mistake once again. Achebe quotes Conrad’s account of his first encounter with a black man. Achebe writes: â€Å"A certain enormous buck nigger encountered in Haiti fixed my conception of blind, furious, unreasoning rage, as manifested in the human animal to the end of my days. Of the nigger I used to dream for years afterward. † Certainly Conrad had a problem with niggers. His inordinate love of the word itself should be of interest to psychoanalysts. (6) In this excerpt Conrad speaks of only one black man, not of all men of the color, thus it is wrong to assume that he has a problem with â€Å"niggers† from this passage. As far as his use of the word â€Å"nigger,† Achebe seems to ignore the fact the word was used quite commonly during the time period. Even in Achebe’s time the word is used very often in certain areas. Furthermore, the word â€Å"nigger† is used 219 times in Mark Twain’s the Adventures of Huck Finn, yet Mark Twain was one of the greatest advocates for the humanity of African-Americans of his time. In his essay â€Å"An Image of Africa: Racism in Conrad’s ‘Heart of Darkness’† Chinua Achebe makes many points to support his idea that Joseph Conrad and his book, Heart of Darkness are racist. However, many of these points are not very good ones. Although his intentions are good, he is blinded by his quest to attack racists and ended up putting an innocent man, who also had good intentions, under fire.

Lifting of Corporate Veil free essay sample

Lifting or Piercing the Corporate Veil is a Legal process or proceedings taken to uncover the common shield in respect of any suspicious event happened or to be happened or on the basis of allegation made or to be made against the Company. This piercing process can be compared to a person lifting the curtain of a Drama Stage to know what is actually happening without being the drama commenced. Piercing the Corporate Veil is a Premeditated process with an intention to curtail the unfair advantage enjoyed on forming of a Company. Merits on Incorporating a Company. Incorporating a Company is always preferred by active entrepreneurs than commencing a Partnership firm or sometimes a sole proprietorship. The major boons of incorporating a Company are: 1. Limited Liability. Almost all the Companies are started with limited liability status. A Company with Limited Liability indicates that a Members’ loss in a Company is only up to the value of his shares or loan made, if any thing unfortunate happens to the Corporate. We will write a custom essay sample on Lifting of Corporate Veil or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The Personal Assets or earnings of Director or the Officer will never be put at risk. But if the event is a fraud or anything outside the purview of the Memorandum of Association (which means â€Å"Ultra Vires†) the Directors or â€Å"Officers in Default† {Section 5 of Companies Act} will be held for Personal Liability. 2. Protection of Name: The Company’s name will be protected immediately once it is approved by â€Å"Registrar of Companies† (herein after called as â€Å"ROC†). There will be no chance of another Company being started with the same name or even identical to the Companies Name. Whilst in the case of a Partnership Firm or Sole Proprietorship Concern, the name can be only protected by a Trademark Registration. 3. Existence. As an old proverb indicates, â€Å"Members may come and go, but the Company exists forever† is the gist of the Company formation. The Company will disappear only after the complicated winding up and liquidation process under the Specific order from Registrar of Companies or any other appropriate authority. 4. Raising Funds: There are not too many better options otherwise than incorporating the Company to raise funds for expansion of the markets for its products, commencing a new business, enter into a global market etc. Initially a Company will be floated as a Private Company (with a limit of 50 shareholders) and after rooting its base in the market, it may proceed with an Initial Public Offer to become a Public Company and gets listed in the Stock Exchange within 21 days of the closure of Public Offer (Usual Routine). A Company can also raise loan on its assets by creating a Charge (Fixed or Fluctuating) in favour of a Bank (Secured Creditor after Charge is being created) which is a very simple process done through MCA portal where the ROC is intimated by filing Form-8. 5. Taxation Benefits. The Taxation part is the most fruitful of all the benefits enjoyed by the Company. The Company’s liability for tax when compared to partnership firms and sole proprietorship concern is very limited. A corporate is blessed with so many deductions and other tax allowances which can be charged against the profits of the Company which limits the liability to pay tax. When Companies began to show Nil Total Income after their tax planning, Section 115JB was introduced in the Income Tax Act vide Finance Bill 2002, which articulates Minimum Alternate Tax whereby a minimum tax obligation was put on the Company which is charged against their Book Profits. Rising of Lifting the Corporate Veil concept. Any Company incorporated under the Companies Act, 1956, can enjoy all the fruits and permitted to do all the acts under the Laws of the land. But if the Companies start to get pleasure from other undue benefits prejudicial to the corporate habitat, the Lifting of Corporate of Veil concepts come into the picture. 1. Regular Company Law formalities are not followed. The Companies are required to abide with certain compliance formalities such as convening of Board Meetings and General Meetings, Filing of Balance Sheets with the RoC, filing Income Tax Return etc. When these regular formalities are not met or complied invariably, with/without any reason, legal actions may be initiated for piercing the corporate veil. 2. Disinvestment and Diversion of Funds. On some occasions directors may on their discretion, having the controlling stake may opt to disinvest or divert the funds without intimating the Shareholders. Such disinvestments or diversion of funds may adversely affect the financial stability of the Company in general and the interests of the stake holders in specific which invites the court to pierce the corporate veil of the Company. 3. Seasonal Non Payment/Excessive Payment of Dividend. Non payment or excessive payment of dividend to the shareholders may sometimes bring suspicions on other stakeholders or legal/governmental authorities for which lifting corporate veil proceedings get attracted. 4. Alter Ego concept. The Company being blessed with so many merits, will be floated and all regularities will be done at the initial stages so as to make it appear as an active company. But later, the alter ego of the Directors gradually starts visible and will occupy the driver’s seat of the company. When it is felt that there are some discrepancies being done placing Company as a shadow/mask, lifting corporate veil of the Company becomes indispensable. 5. Fraudulent Motive. When the judiciary feels that when there is any fraudulent activities are going on in a Company or there is a chance such malpractices, the Court has all the powers to pierce the corporate veil. 6. Enemy Character. At any time, if any Country has become the alien enemy (War has been declared against another Company), the Court has the authority to pierce the corporate veil so as to analyze the Shareholding and other management and fiduciary interests of the Alien Company in that Company to protect the General Interests. 7. Tax Regulation. If any tax legislation insists the appropriate authority to pierce the Corporate Veil, the Court would not mind the Separate Legal personality of the Company and proceed with digging the core of the formation and other commotions of that Company. Some Celebrated Case Laws related with Lifting the Corporate Veil of the Company: 1. Salomon Vs Salomon (1897) In this case, Mr. Saloman was dealing with shoe business. The Kingdom of Britain then enacted a statute providing for the incorporation of businesses and a corporation then had to have at least seven shareholders. Mr. Salomon formed a corporation, with all seven shareholders being members of his family. The business of the corporation eventually went under, leaving considerable unpaid debts and ever branching liabilities. The creditors argued in court that the shareholders should be liable for the debts of the corporation, because they were all related to Old Man Salomon, and that the corporation was set up a mere sham. The court held in favour of the shareholders, Old Man Salomons relatives. The fact that the shareholders were all related to Old Man Salomon was irrelevant in determining that the corporation legitimately existed as a separate entity, and thus the individual shareholders were not held liable for the corporations debts. This case law in a narrow aspect does not have any relevance with regard to Piercing Corporate Veil concept. But this judgment was taken as a trump card to taste the cream of formation of Companies. 2. Gilford Motor Company Vs Horne: In this case, the Court disregarded the judgment of Salomon Vs Salomon, questioning the distinct legal personality of a Company. Mr. Horne was an ex-employee of Gilford Motor Company and as per the terms of the employment, he should not solicit any of the Company’s customers. In order to defeat this provision, Mr. Horne incorporated a Company in his wife’s name and solicited all the customers for which the Company brought up action against him. The Court analyzed the motive of incorporating the limited Company and it was ipso facto found that the Company’s main purpose was to perpetrate the fraud. 3. Jones Vs Lipman This case is similar to Gilford Motor Company Vs. Horne. Here, Lipman entered into contract with Jones to sell his land. Later, Lipman changed his mind and transferred the property to a Company in order to avoid Specific Performance. But it was held that the Company as well as the transfer of property was only acting as a mask to avoid recognition by the eye of equity. 4. Edwards Company Inc Vs Monogram Company Inc: Monogram Industries acquired Entronic Corporation in the field of production of smoke detectors. Monogram made its purchases through its wholly owned subsidiary name Monotronics. Monotronics then entered a Limited Liability Partnership with Entronic Company and acted as a General Partner. In the course of the business, Edwards Inc granted loan worth $ 350,000 to Entronic Corporation which it could not ply went the market slashed. However, Monotronics, being a General Partner could repay a part of the loan worth $ 10,000 from its estate to Edwards Company. But, Edwards filed a suit against Monogram Industries for the recovery of the debt against Entronics, an attempt to pierce its corporate veil on the basis of the following grounds: a. The Board of Directors, Office and Contact numbers of Monotronics and Monograms are same. b. Monotronics was only a piece of paper or a dummy company as far as Monograms is concerned. But, the Honourable Court analyzed that: 1. There was nothing to prove or insist the court to order for lifting the corporate veil as there was no fraudulent act or injustice shown from the Company/Companies to escape from the liabilities. 2. There was no lack of separate existence of the 2 Companies. 3. There was no violation of any corporate formalities. 4. There was also no co-mingling of money and under capitalization in both the Companies. Taking in view of the above analysis, the Court quashed the suit filed by Edwards Company against the Monogram Group. Conclusion: It is always fruitful for active and vibrant entrepreneurs to expose their skills and respond to the changing environment by incorporating a Company. The Incorporation of such a corporate must be in the true spirit of law. Once the Company is floated, in spite of enjoying all the merits, it also has to comply with all the procedural and legal formalities. A Director of a Company must be also aware of Section 322 of Companies Act, 1956 which makes their liability unlimited. In the Era of Corporate Governance and Corporate Social Responsibility, the chance for lifting the Corporate Veil may not arise, but there are cases of â€Å"Fly by Night Entrepreneurs† and â€Å"Vanishing Companies† after the Initial Public Offer even after SEBI has framed vide variety of Guidelines for protecting investors and other stakeholders. In Taxation words, this can be compared with Tax Planning and Tax Evasion where the essence depends upon the intention of the assessee whether to apply all the loopholes available in the law or by pass the boundaries for unjust enrichment.

Saturation Essay Essays

Saturation Essay Essays Saturation Essay Essay Saturation Essay Essay Viola students are all aware of the infamous Professor Taller Old Testament worksheets, and I have just begun mine. That night, the La Miranda weather was cool and a relief from the smoldering hot temperatures of the day time. As I began to work on my assignment, I occasionally glanced around me. The sky was pitch black with glistening stars that looked like fireflies. Groups of people walked by, school books In one hand and Bibles In the other. As I continued to drift off into my own thoughts, I suddenly noticed a boy and a girl sitting next to the fountain with their feet up against the barrier of the pool of water. I was intrigued by their in-depth conversation of faith, life, and heartache. At the end of their conversation, the boy prayed for the girl and they parted ways. I sat in my chair In awe of how amazing my fellow peers were. Every twenty minutes of doing work I would take a break and relax. I could smell the scents of my sweet freshly baked cookie and coffee from Commons. I picked up my cookie and CLC could feel the soft dough and chocolate in my hands. I took short sips of my coffee to ensure that it lasted me the duration of my time studying. The creamy and sweet caramel overjoyed my mouth. I sat there thinking about how blessed and lucky I was, hat the beautiful scenery and essences of Bola were now my home. I once again took out my folder and began working. While continuing my work, I decided to turn on soothing music and immediately Goggled Hellions united. As I listened to the songs, I could hear in the background the trickling of the fountain as each stream of water came down. The coolness of the oncoming breeze slightly touched the back of my neck. The trees and leaves looked as if they were dancing ballet together to a beautiful song. Everything about the scene was serene. As I took In a deep breath, I felt a sense of composure. Although my worksheets were stressful, I felt as though I had the motivation and relaxation to finish them on time. Being part of such an academically inclined community made it feel as though I was trying to swim against a deep current, but in this exact moment I felt a sense of calmness in all the chaos. As I looked up and saw the elaborate mural of Jesus on the wall, It reminded me of how Jesus told Peter to walk on the water and trust Him. Peter stepped out to Tallow Jesus, out Degas to Tell tartar Decease AT ten walls wince made him begin to sink. I believe our everyday life is the same in the sense that once e take our eyes off Jesus and begin to worry, we also begin to sink. Although I had been feeling overwhelmed, I realized that I was brought to this university for a purpose. I needed to have more faith and trust in not only Gods plan for me, but in myself and my abilities as well. I have always been a person to stress myself over things out of my control. Whether it be school work, activities, or life in general. When I decided to attend Viola, I knew I would encounter many trials. Although these trials may feel endless, when I am sitting at the Fountain 0 of Faith my strength feels renewed. I feel as if I am David and all of my hardships are Goliath, and with God I can defeat any obstacle in my way. When I am sitting here relaxing, those feelings begin to fade. When I was deciding which school was right for me, my mom told me to visit each campus and sit somewhere where I could really get a feel of what the community was like. When I visited Viola, the place I chose was the exact table I sit at every time I come here to study. I love to be able to sit and remember my experience of why I chose this university in the first place. Each study session reminds me of how much I love Viola and everyone in it. As I push myself to my limit, I feel a sense of relief as I finish my last page of my last worksheet. The fountain shuts off, which tells me that it is midnight. It is pure silence besides the faint noise of clicking from keyboards on laptops in the distance. I sigh as a huge weight has been lifted off my shoulders and I just sit. I sit and think of the opportunities God has provided me with. I sit and think of everything that has lead up to this moment. I sit and think of Gods goodness. After I pack up my things to head back to my dorm, I take a moment to pull up a chair next to the fountain. I notice the cerulean blue tiles that line four of the seven steps. The other three are painted white with detailed yellow flowers. I put my feet up Just as the couple had done earlier and I look up. My eyes wander into the Jet black sky full of numerous stars. As I notice the bright moon, I realize that God created everything in the sky. He names each star by name, and cares for me so much more than each star that drapes the Heavens. As I sit in awe of Gods creation, I cannot help but notice all of the glory and power of The Lord. Sometimes all you need in lifes chaotic trials, is to be still and know that He is God.

Literature, Intertextuality Essay Example | Topics and Well Written Essays - 750 words

Literature, Intertextuality - Essay Example These results not only in what Roland Barthes calls as the "Death of the Author", but also makes the issue of authorship debatable. According to Barthes, the text [is] woven entirely with citations, references, echoes, cultural languages . . . which cut across it through and through in a vast stereophony. . . The citations which go to make up a text are anonymous, untraceable, and yet already read 1(Barthes 194-5) If intertextuality is a problematization of the inside-outside ratio of the text and context game, a classic example would be John Barth's Dunyazadiad. The text not only explicitly refers to the original work of The 1001 Nights, which is historically seen as an act of unoriginality, of plagiarism, but manages to create something original out of the reference. In the story, when Scheherazade and the genie (John Barth) are discussing the ending of the story the reader is currently reading, her epiphany illustrates one of the central ideas behind Barth's reworking: "Sherry asked with a smile whether by 'his version' the Genie meant that copy of the Nights from which he'd been assisting us or the story he himself was in the midst of inventing." The fact that Barth consciously subverts the original reference and recasts Dunyazade, the younger sister of the doomed Queen Scheherazade, the original protagonist of the Arabic tale, as the main stay of his text, shows Barth not only toying with the idea of form (as represented by the canon of Queen Scheherazade), but also illustrates the idea of post modern fiction to venture into the realms of 'might have been's' rather than following the filiated history. The greatest triumph of Barth lies in breaking this discourse of filiation, of canonization, by producing a pastiche of the probable. The intertextuality in the text thus, capillarizes the power lying inherently with the omniscient author of The 1001 Nights. If intertextuality celebrates the concept of art imitating art, it is true that Barth's text is a pluralistic discourse. However, the question of whether the text owes more to other texts than itself becomes difficult to analyze simply because the meta-narratives which evolve from Dunyazadiad are themselves a part of the world of intertextuality. The recursive tale structure is a treasure-house of narratives, but is at the same time confounding as it is held in the semiotics of language whose meaning can neither be ascertained nor be fully comprehended. Thus, "I can't conclude it," the narrator admits at the end of "Dunyazadiad," "but it must end in the night that all good mornings come to." The function of intertextuality in Alejo Carpentier's Like the Night has a function which is similar and at the same time dissimilar to Barth's Dunyazadiad. Whereas the similarity is evident in both the text's ability to challenge and break the canon of filiality, the difference becomes one in degree. Alejo's text, one could argue is a conscious effort to defer the issue of authorship at such an ad infinitum pace that its elasticity could combine the aesthetic concerns of multi-cultural traditions and focus on broader social issues regarding cultural identity. A typical example would be the use

Social marketing Essay Example | Topics and Well Written Essays - 1500 words

Social marketing - Essay Example This report focuses mainly on ways and techniques for social marketing. Social marketing is a source of creating awareness regarding any essential issue in a society and works for social benefits by means of various campaigns which are usually non-profit seeking. It is a way to change behavior of individuals in a society and strive for their good. These issues could be health related or may be associated with behavioral changes needed by a society. Social marketing must not be puzzled or mingled with â€Å"societal marketing â€Å"or â€Å"social media marketing† as these are entirely separate marketing techniques.(Kotler, Roberto, Lee, 2002) Social marketing may include various significant campaigns like stop smoking, and it should be avoided in public places and where kids are present in a family places like restaurants. Awareness regarding syringes to be disposed immediately after the use, to avoid HIV transmission. Here it also involves educating people to observe the laboratory technician or hospital staff whether they dispose the syringe in front of you in the trash can or not. Another health issue is the use same shaving razor in saloons that may lead to catch jaundice or hepatitis infections and skin diseases. (Ewing, 2001) Hence the aim of social marketing is to use commercial techniques for the betterment of society and common people regardless of considering the financial profit. HEALTH CARE INDUSTRY: One of the healthcare industries is a pharmaceutical industry that manufactures drug substances including tablet, capsule, injections, syrups, suspensions, creams and ointments. The label of a drug is one of the most important protocols that should contain all relevant information including generic name of the drug, weight of the active ingredient, batch number, date of manufacture, expiry date , manufacturer’s name, dose, and other useful information which stands as a key factor in marketing of these medicinal agents. Another healthcare industry is a hospital where a patient is admitted for treatment and gets cured. These days many hospitals are occupied in social marketing related to human health like arranging free eye camps for treatment of cataract and free diabetes check up etc. Certain NGO’s and government healthcare departments are organizing various social marketing campaigns like prevention of drug addiction and counseling of such addict ed individuals. PRODUCTS FOR SOCIAL MARKETING: Social marketing products are non-tangible objects and are important for health, safety and environments benefits. There are many examples of social marketing products like, water conservation, keep the environment clean and green etc. (Vella, 2008) EXERCISE: Here we shall consider the example of â€Å"exercise† as a social marketing product. Exercise is considered as one of the most important aspect of human life style. It helps you staying fit and healthy. This act is very essential for prevention of various diseases like myocardial infarction, blood pressure, diabetes, arthritis etc. Even pregnant women are advised for mild exercises during the period of gestation to keep themselves active. Exercise boosts your stamina and helps in ailment of numerous diseases. A brisk walk is supposed to be the best exercise for age groups. Nowadays there is a trend of going to gym for aerobics and use of fitness machines. Therefore exercise as one of social marketing product where different companies are also engaged in bringing people towards health and fitness and changing their views, plays a vital role in prevention and cure of a number of health related issues. There are four Ps of marketing: product, place, price and promotion. (Kotler, 2003) Product: means the preferred attitude that the marketing company anticipates from the consumers. This is usually a non-tangible object but could be physical as well (e.g. weight reduction pill). Price: The price should be affordable, like offering special packages for gym, swimming pool, games such as tennis,

Globalization and Labor Term Paper Example | Topics and Well Written Essays - 2500 words

Globalization and Labor - Term Paper Example Along with this, several other factors like the removal of restrictions and limitations over the capital flows and the trade across border, and the rapid advancement in the technology have enabled the production processes to be scattered. The number of products and services is rapidly increasing, but they are situated far away from the target markets. The production sites have become increasingly alert to the relative cost of labor across various countries. Every year, more and more people are migrating across borders, both legally and illegally. This has given boost to the process of globalization. Particularly, the labor market is becoming increasingly globalized. This matter has drawn the attention of media and policymakers towards itself, specifically in advanced economic regions. The question that is of the biggest concern from the resulting situation and that this paper aims at answering is, if the massive in-pour of labor from the underdeveloped countries into the developed co untries is damaging the employment and compensation trends in their economies? This paper will also explore the rate of growth of the labor supply across borders in the recent years and the specific channels that have played a special role in promoting the globalization of labor. These form important aspects of the aforementioned question. Increase in the supply of global labor: In order to determine how globalized labor in the contemporary age is, it is imperative that the effect of progress of such Eastern countries as India and China on the global labor supply is studied. This requires estimation of the participation of these countries’ labor force in the global market. This can be achieved by examining the ratio of export-to-GDP in these countries. The effective supply of global labor has quadrupled in the 25 years from 1980 to 2005 (IMF 162). The increase in global labor supply particularly occurred after 1990. Although most of the increase in the labor supply across the world that has occurred in the recent years pertains to the movement of workers that have not attained higher education, yet there has also been a noticeable increase in the supple of workers that have formally attained higher education. According to an estimate, the global supply of such workers has increased by 50 per cent in the past 2.5 decades (IMF 162). Advanced economies may estimate the increase in the supply of global labor merely by reviewing the increase in demand of imports, or by reviewing the trends of immigration. A comparison of countries with respect to the impact of globalization: Impacts of the labor globalization have been most significant in the European countries and the Anglo-Saxon countries. According to (New Economist), globalization has generally caused a reduction in the labor’s share in the GDP: However ...In Anglo-Saxon and smaller European countries, labour-market policies have partially offset the depressing effects of technology and globalisat ion on labour's share, mainly by shaving the tax wedge between what workers take home and what they cost to employ. In large European countries, increases in the ratio of unemployment benefits to wages have hurt labour's prospects, probably against policymakers' intentions. (New Economist). Different factors have caused the labor share to decline in the Anglo-Saxon and European countries. In Europe, the share of labor has mainly been influenced by the immigration and offshoring whereas offshoring was not

Benefits of Environmental Law

Benefits of Environmental Law Introduction Dating back to 1970s the concept of environment and resource management in New Zealand has gradually developed to adjust to internationally addressed environmental issues fist recognised by the World Summit held in Stockholm in 1972 when the need to protect the environment was acknowledged by the political world (Study Guide 1: Resource Management and Environmental Law). For a long period of time and especially in the last three decades, conservation issues have been on the political agenda in New Zealand. During this time, conservationist successful brought issues to the attention of governments and had policies and institutions introduced or changed to meet their demands (Buhrs and Barlett 1993). International influence The local thinking on the need to improve environmental management was influenced following an audit of New Zealands environmental management by the OECD on 1980. (Williams, 1997 cited in ENV 103 Resource Management and Environmental Law, Part 1) New Zealand is nationally and internationally regarded as a clean and green country due to the large areas of the country being relatively untouched and more than twenty per cent of the land being still under native bush. Having a population of only 3.5 millions, the country is seen as sparsely populated and pollution problems are regarded as minor comparing to other, more industrialised countries of the world. (Buhrs Bartlett, 1993) Buhrs Bartlett (1993) stated that New Zealand is able to prevent the environmental problems from emerging by learning from other countries experiences. Even though there have been improvements in some areas such as nature conservation, in other aspect New Zealand environmental policy has been slow comparing to other western countries (Buhrs Bartlett, 1993). Political and law reform in New Zealand Starting with The Town and Country Planning Act (TCPA) being passed by Parliament In 1977, political and law reform in New Zealand has regulated the use of land enforcing the need for permission for any activities through local government. The TCPA was concerned with economics and economical development within New Zealand being directed mainly at zoning (Study Guide 1: Resource Management and Environmental Law). One of the first documents identifying how the key ideas underlying the concept of sustainable development could be applied in New Zealand, The Integrated conservation and development: A Proposal for a New Zealand Conservation Strategy was prepared by The Nature conservation council in 1981 (Study Guide 1: Resource Management and Environmental Law). Starting with The New Zealand Physical and Environmental Conference recommending the establishment of an Environmental Council, New Zealand has addressed the concerns that environmental costs were often overlooked during economic development (Study Guide 1: Resource Management and Environmental Law). Benefits of Environmental Law for New Zealanders The clean and green image that New Zealand has managed to project to the world for such a log time is a very important part of the countries international image and has been sustained due to the countries ability to protect its natural heritage and local unique fauna and flora. Every person wants a clean environment in which to leave and leave for future generations. The New Zealanders environment is as much part of the countries image as its own history and culture. The clean environment it is as equally important for people as individuals as it is for the standard of life. The Influences in the development of environmental law in New Zealand have been as much internal as external even though the environmental issues have been in countrys agenda for a very long time. Having a very developed touristic economy, New Zealands environment plays an important role in the countys economical development and prosperity. Environmental law in New Zealand is vital for protecting all the factors influencing New Zealanders standard of life and the economical growth. Contributing factors to Environmental Law in New Zealand According to Buhrs Bartlett (1993), New Zealands unique flora and fauna and its distinctive species and ecosystems have suffered serious losses since human settlement. It is estimated that prior to human settlement eighty per cent of New Zealand was cover in forest. Since then the area covered by forest was significantly reduced to fifty-three per cent by 1840 and further to twenty-three per cent by 1983, making the treat to ecosystem one of the main contributing factors to Environmental Law in New Zealand. (Commission for the Environment, 1985 cited in Buhrs Bartlett, 1993) In 1928 increased public interest in conservation led to the introduction of the Public Reserves, Domains and National Parks Act. Several National Parks have been established by 1929 and another four during the 1950s. (Department of Statistics, 1989, pp.512-13 cited in Buhrs Bartlett, 1993 ). The conservationists concerns in regards to destruction of scenic beauty increased during 1950s continue trough 1970th and the early 1980s. Following battles over government proposal for the utilisation of beech forests, a new, more radical conservation organisation, the Beech Forest Action Council (later named the Native Forest Action Council) was established. The interest of the environment movement in New Zealand moved towards conservation issues to a global dimension during the 1980s and early 1990s. (Palmer, 1990 cited in Buhrs Bartlett, 1993) The Quality of Life Issue and Pollution are just some of many contributing factors to Environmental Law in New Zealand. The quality of life is often associated with the standard of living. However, a good standard of living, like the enjoyment of life, the quality of social relations within society and the satisfaction of psychological needs can contribute to the good quality of live but does not necessarily lead to it, while the low quality of living is often associated with people living in abject poverty(Buhrs Bartlett, 1993). The quality of life issues such as pollution, public health and human environment problems have not been the subject of public concerns until the early 1970s, when they started to play a more important role in the public agenda. Poor disposal and waste management has lead to further environmental health and pollution issues with the cleaning cost estimated at over $600 million. (Ministry for the Environment, 1993; Minister for the Environment, Media Statement, 16 December 1992; Stevenson, 1992 cited in Buhrs Bartlett, 1993). There are several factor categories that help explain why certain conditions or problems have a better chance of reaching the political agenda. The Socio-cultural context of New Zealand society has been receptive to nature conservation issues. The countrys natural environment and scenic beauty is seen as unique which has offered a significant level of support allowing the conservation movement in New Zealand to develop professionally and politically skilled organisations. Significant progress in conservation policy has also been achieved due to the economic factors as well as political-institutional factors. The relative seriousness of environmental problems also contribute to the political recognition of problems. Convergence is another factor which may explain why problems receive political attention despite the weakness, or even absence, of domestic pressure and demands. This is a process by which outside influences induce countries to adopt similar policies, (Buhrs Bartlett, 1993) The RMAs role in New Zealand One of the environmental Lows in New Zealand is The Resources Management Act (1991). This is the only law which is dealt with on a daily basis by many around New Zealand. Having clean air and unpolluted beaches are some of the qualities of our environment that we rely and values, which the RMA seeks to protect. It also encourages the protection of areas of our natural environment that provides habitat for ingenious species. The RMA set out to create a more streamlined, integrated and comprehensive approach to environmental management. The focus of RMA is on managing the effects of activities rather than regulating the activities themselves. The purpose of this Act is to promote the sustainable management of natural and physical resources. In this Act, sustainable management means managing the use, development, and protection of natural and physical resources in a way, or at a rate, which enables people and communities to provide for their social, economic, and cultural wellbeing and for their health and safety. New Zealand Legislation: Acts available at: www.legislation.govt.nz/act/public/1991/0069/latest/DLM231905.html The RMA controls the environmental impacts of activities through the requirement to apply for Resource Consents as well as through any conditions for permitted activities included in the relevant regional or district plan. Conclusions Environmental Law in New Zealand as well as globally is in constant and continuous development and reassessing due to the continuously changing environmental issues nationally as well as internationally. The influences in the development on environmental law in New Zealand have been as much internal as external even though the environmental issues have been in the countrys agenda for a very long time. New Zealands environmental law has gradually change to meet the countrys needs for protecting the indigenous flora and fauna affected by the increasing population and continuously changing environmental conditions. The countrys heritage has suffered dramatic changes over time with species broth to extinction or close to it. Learning from past experiences and from other countries experiences, New Zealand has managed to protect its clean and green image by practicing a environmental issue prevention policy. References BÃ ¼hrs, Ton and Robert V. Bartlett (1993) Environmental Policy in New Zealand. The Politics of Clean Green? Chapters 2 New Zealand Legislation: Acts available at: www.legislation.govt.nz/act/public/1991/0069/latest/DLM231905.html Study Guide 1: Resource Management and Environmental Law Williams, D.A.R (1997). Environmental and Resource Management Law; cited in Study Guide 1: Resource Management and Environmental Law Bibliography Royal Forest and Bird Protection Society of New Zealand, (2005). Breaking Down Barriers The Resource Management Act Made Easy. Available from: http://www.forestandbird.org.nz/rm/index.asp Environmental Defence Society Website http://www.rmaguide.org.nz Ministry for the Environment lots of information about the Resource Management Act. Available at: http://www.mfe.govt.nz/rma/index.php Ministry for the Environment, (2006). Your Guide to the Resource Management Act. Available at: http://www.mfe.govt.nz/publications/rma/rma-guide-aug06/html/index.html New Zealand Legislation: Acts (2008). Resource Management Act 1991. Available at: http://www.legislation.govt.nz/act/public/1991/0069/latest/DLM230265.html Hardin, Garrett (1968), The Tragedy of the Commons Science, 162 (13 December), pp. 1243-1248. (Reprinted in: Ken Conca, Michael Alberty, and Geoffrry D. Dabelko, eds. (1995), Green Planet Blues. Boulder, Colorado: Westview Press, pp.38-45).

Violence and the Brain Essay -- Biology Essays Research Papers

Violence and the Brain Is there a biological basis for violent behavior in the brain? Recent research links "neurological impairments and psychoses" to violent behavior (1). The "psychological effects" of brain damage and disease can cause the mind to lose touch with reality leading to criminal and violent behavior (1). As a result, free will may be deserted in an individual suffering from abnormalities and chemical imbalances in the brain (2). Consequently, legal issues arise because violent offenders with mental illnesses or brain injuries are not always to blame due to the biological nature of their diseases (2). However, violence in psychiatric and neurological patients can be prevented for the most part through medication and "social support services" (1). A PBS video, "The Violent Mind" sparked my interest in the relationship between violence and the brain. The video presented several cases of violent assault which could be attributed to chemical imbalances in the brain (2). For example, the video illustrated the story of David Garabedian, a quiet passive man who murdered a customer of the lawn car company where David was an employee (2). David mixed lawn chemicals in their undiluted form which caused him to experience physical and mental changes in his body (2). Dr. David Bear, a physician from Vanderbuilt Medical School who looked into Davids case, claimed organophosphates in the insecticide poisoned the enzyme that clears away acetylcholine in the hypothalamus (2). Moreover, Dr. Bear stated that acetylcholine sends signals between the cells which coordinate aggression (2). This explains Davids reaction when the customer caught David urinating on her lawn (2). Before the urination episode, the action potential... ...h violent crimes of 17 "loners" (6). She links the patterns of their crimes "with seizures, which often are preceded by auras, frequently cause irrational behavior and loss of normal bodily functions and are generally followed by a sense of disorientation" (6). According to Pontius, the seizures resulted from "limbic kindling" due to the loners lack of interpersonal relationships (6). Bottled up feelings, emotions, and memories were "triggered by people and objects" as stated by Pontius (6). The research reviews and excerpt from the PBS video, "The Violent Mind", presented in this paper strongly support the evidence of a biological basis for violence in the brain. Internet Sources: http://www.crime-times.org/96d/w96dp9.htm http://www.crime-times.org/98a/w98ap10.htm http://www.crime-times.org/96d/w96dp6.htm PBS video: Episode 8 "The Violent Mind" Violence and the Brain Essay -- Biology Essays Research Papers Violence and the Brain Is there a biological basis for violent behavior in the brain? Recent research links "neurological impairments and psychoses" to violent behavior (1). The "psychological effects" of brain damage and disease can cause the mind to lose touch with reality leading to criminal and violent behavior (1). As a result, free will may be deserted in an individual suffering from abnormalities and chemical imbalances in the brain (2). Consequently, legal issues arise because violent offenders with mental illnesses or brain injuries are not always to blame due to the biological nature of their diseases (2). However, violence in psychiatric and neurological patients can be prevented for the most part through medication and "social support services" (1). A PBS video, "The Violent Mind" sparked my interest in the relationship between violence and the brain. The video presented several cases of violent assault which could be attributed to chemical imbalances in the brain (2). For example, the video illustrated the story of David Garabedian, a quiet passive man who murdered a customer of the lawn car company where David was an employee (2). David mixed lawn chemicals in their undiluted form which caused him to experience physical and mental changes in his body (2). Dr. David Bear, a physician from Vanderbuilt Medical School who looked into Davids case, claimed organophosphates in the insecticide poisoned the enzyme that clears away acetylcholine in the hypothalamus (2). Moreover, Dr. Bear stated that acetylcholine sends signals between the cells which coordinate aggression (2). This explains Davids reaction when the customer caught David urinating on her lawn (2). Before the urination episode, the action potential... ...h violent crimes of 17 "loners" (6). She links the patterns of their crimes "with seizures, which often are preceded by auras, frequently cause irrational behavior and loss of normal bodily functions and are generally followed by a sense of disorientation" (6). According to Pontius, the seizures resulted from "limbic kindling" due to the loners lack of interpersonal relationships (6). Bottled up feelings, emotions, and memories were "triggered by people and objects" as stated by Pontius (6). The research reviews and excerpt from the PBS video, "The Violent Mind", presented in this paper strongly support the evidence of a biological basis for violence in the brain. Internet Sources: http://www.crime-times.org/96d/w96dp9.htm http://www.crime-times.org/98a/w98ap10.htm http://www.crime-times.org/96d/w96dp6.htm PBS video: Episode 8 "The Violent Mind"