Strategic Assessment Of Risk Assessment Methodologies

Mostly all security methodologies call for some kind of objective assessment of risks. This is simply so because, security controls selections are centered on the known risks there are to an organization s assets and operations. There is also an alternative, which would consist of randomly selecting security controls without using any type of methodical threat or control analysis. If the alternative method is used to implement the security controls, there will be issues such as: having security controls implemented in the wrong places, and the organization will be left vulnerable to unanticipated threats and resources will be wasted. Risk assessment methodologies establishes rules for what is to be assessed and establishes who will need to be involved. Risk assessment methodologies also establishes the terminology that will be used when discussing the risk, establishes the degree of risk when quantifying, qualifying, and comparing risk, and they also help to establish what documentation must be collected as a result of the assessments. The two most popular risk assessment methodologies that are used today are: OCTAVE (Operationally Critical Threat, Asset, and Vulnerability Evaluation) which was developed at Carnegie Mellon University, and the NIST risk assessment methodology that is documented in NIST Special Publication 800-30. The OCTAVE methodology is a method that is used when assessing an organization s information security needs. The most recently developed andShow MoreRelatedProtecting The Nation s Security Essay1203 Words   |  5 PagesSecurity is about effectively managing risks to the Nation’s security (DHS, 2010). The Department of Homeland Security and many other security and defense organizations rely on a process of identifying risks, the consequences of those risks, the vulnerabilities of a potential threat, and the likelihood of a specific target (infrastructure, resource, and/or people) will actually suffer the attack. This process is commonly referred to as Risk Management. Risk Management is the â€Å"process for identifyingRead MoreRisk Management : A Dynamic Environment Essay1520 Words   |  7 PagesRisk Management in a Dynamic Environment Research Problem The Department of Defense (DoD) is increasingly challenged to assess and manage risk in an exceedingly dynamic threat environment. Risk Management includes multiple steps of which risk identification is the foundation of the process. A flawed identification of threats is shaky ground from which to build the remaining risk management steps. Mitigating a threat is this actually not a threat is a poor use of resources and potentially indicatesRead MoreAssessment of Risk Management and Control Effectiveness at Cincom Systems1581 Words   |  6 PagesAssessment of Risk Management and Control Effectiveness at Cincom Systems Introduction Based on the Information Asset Inventory and Analysis completed for Cincom Systems the next phase of improving their enterprise security management strategy is to concentrate on assessments of risk management and control effectiveness. This specific study evaluates the effectiveness of the security technologies and methodologies in place at Cincom, also determining uncertainty and calculating the risk of theRead MoreThe Government Accountability Office Is A Challenge For The Congress And The Administration1313 Words   |  6 Pagespractice of effective risk management is a challenge for the Congress and the administration. Risk management is a strategic process in helping policymakers to make decisions about assessing risk, and having limited allocating resources in taking action under conditions of uncertainty (GAO, 2008). However, with the policymakers recognizing the risk management, it helps them to make informed decisions, while Congress and the administration have charged fede ral agencies to use a risk-based move to prioritizeRead MoreThe Government Accountability Office : A Challenge For The Congress And The Administration1313 Words   |  6 Pagespractice of effective risk management is a challenge for the Congress and the administration. Risk management is a strategic process of helping policymakers to make decisions about assessing risk, and having limited allocating resources in taking actions under conditions of uncertainty (GAO, 2008). However, with the policymakers recognizing the risk management, it helps them to make informed decisions, while Congress and the administration have charged federal agencies to use a risk-based move to prioritizeRead MoreFice Of Internal Audit1292 Words   |  6 Pagesfree, objective assurance and counseling action intended to include esteem and enhance an association s operations. It helps an association to perform its targets by bringing an orderly, restrained way to deal with assess and enhance the viability of risk management, control, and administration forms. The motivation behind the Office of Internal Audit is to give quality reviewing administrations to guarantee the sufficiency and viability of the retailer of inward controls and the nature of executionRead MoreCase Study : Risk Assessment Policies And Procedures1303 Words   |  6 Pages RISK ASSESSMENT POLICIES AND PROCEDURES DATE: 1-1-201X TO: ASSESSOR FROM:Mr. John Introduction: This report is about Toyota’srisk appraisal arrangements and strategies. We have done specialized investigation of arrangements, methodology, rules, qualities, shortcomings, legitimate and enactment necessities of Toyota. This report outlines our work to make it advantageous for you to comprehend Toyota’srisk appraisal arrangement Risk assessment- scope RiskRead MoreThe Department Of Homeland Security Essay1380 Words   |  6 Pagesâ€Å"Take calculated risk. That is quite different from being rash.† Great success can be obtained by calculating risks. Lives can be saved, infrastructure protected, and evil avoided, but how does one calculate risk? The Department of Homeland Security (DHS) has developed a risk management system to help address risks, primarily terrorism risks. It is important to realize that this is a system. Comprising this system of risk management are some key steps, such as the risk assessment and decision makingRead MoreThe Homeland Security And Risk Management Programs1213 Words   |  5 Pagesthreats as the United States encounters new enemies as well as ongoing natural disasters. Regarding the topic of risk management lays an intriguing question. This question is how to appropriately coordinate risk management programs while acknowledging elements of focus in regards to different assets and the manne r in which these assets are used. The homeland security uses risk assessments on all areas, which this paper will be focusing on, to determine how to maintain the condition of an asset as wellRead MoreA Computational Asset Vulnerability Model For The Strategic Protection Of The Critical Infrastructure1485 Words   |  6 PagesVulnerability Model for the Strategic Protection of the Critical Infrastructure† Article Summary of the Article A brief background of this article shows that it presents the doctoral works of Richard White on security under the supervision of Terrance Boult and Edward Chow. The article was published online by the â€Å"International Journal of Critical Infrastructure Protection.† In this paper, Richard White present a new computational model that can be of help in organizing for strategic protection of the key

Racial Profiling A Strong History - 1587 Words

Racial profiling has a strong history in these United States. First, what is racial profiling? Basically, racial profiling is an assumption about something solely based on a person’s race. It may also be a filter through one’s eye. For example, when a police officer decides to only stop African Americans, he is racially profiling; if he decides to exclude all African Americans from any stops he conducts, he is also racially profiling. Racial profiling is a form of discrimination people generally associate with law enforcement. In recent times, allegations of racial profiling have been rampant in the United States, having mainly the African American community as the target. Lately, though, Hispanics have also been the alleged target of racial profiling. Regardless, we can all be victims of racial profiling regardless of our race, and there have been laws written to prevent the profiling, but is it enough? America, land of the free and home of the brave, but at one point, there were more than half the population of these states that were free. When the country was young and still developing, there were slaves everywhere. Slaves worked in farms for hours on end with barely any breaks to even get a cup of water. These conditions were horrible, and slaves did all that they could to survive, and some even escaped. During these times, a police-like organization was already present. Their main job is to gather any escaped slaves that ran away from the plantation. The courts backShow MoreRelatedAmerican History: Racial Profiling and Bias in The Media 905 Words   |  4 PagesSince the beginning of American history, the media have played a massive role in how people perceive certain viewpoints. The media comes in all different shapes, whether it is propaganda, a commercial, advertisements and even newspaper articles can influence and individual minds. It can be even used to change one’s opinion on the way they may think of a particular race. Still today the media influences our mind, however many believe due to media bias and racial profiling will affect how â€Å"fair† theirRead MoreRacial Profiling Is Out Of Control979 Words   |  4 Pages Racial Profiling is racism Today in America racial profiling is out of control. People are being attacked, judge and even killed for reasons beyond just skin color. For many years people of color have been racially profiled, and now when America should be moving forward, America is going backwards. Racial profiling, which is a form of racism has gotten out of control, and the past has not improved as we have moved into the 20th century. It is time for Americans to take a closer look at racialRead MoreRacial Profiling1430 Words   |  6 Pagestwenty years the issue of racial profiling has become extremely combative with regards to law enforcement practices. A common misconception begins as some people are unaware of what racial profiling actually is. Racial profiling typically deals with incarceration, miss education, and to certain extent slavery. The topic of slavery is relevant in the conversation of racial profiling because like slavery, African Americans have suffered just due their own identity. Profil ing is essentially the selectionRead MoreRacial Profiling : Developing A Profile1127 Words   |  5 PagesProfile Racial profiling is a topic that dates back centuries. With it being one of the major issues encountered today, racial profiling is a discriminatory conduct held by law enforcement and the criminal justice system. In my eyes, racial profiling is the use of race, ethnicity, gender, religion, or national origin by law enforcement as a factor in deciding whom to investigate, arrest, or detain absent evidence of a specific crime or criminal behavior (Chanin). In today’s world, racial profiling hasRead MorePersuasive Essay On Racial Profiling1488 Words   |  6 PagesRacial profiling existed back in the 18th century when black slaves were abused and oppressed by white men even those who didn’t own slaves. Throughout history, racial profiling still continues to be a controversial issue today. It’s practiced everyday. Racial profiling means using an individual’s race or ethnicity against them of committing a crime. This means oppressing other races to feel infer ior and accusing others to a certain stereotype. Racial profiling is when a black person in ripped jeansRead MoreAnalysis Of Richard Wright s Black Boy 1116 Words   |  5 Pagesto the abolishment of oppressive laws and prejudicial mindsets. Each and every American now shares the same rights regardless of race, heritage, or religion. The massive progression of racial equality does not, however, entitle one to the exclamation that we have found and implemented the solution to racial inequality. The idea that one has found the inerrant solution to such a broad and complex issue is incredibly ignorant in light of events that occur daily. Each passing day is riddledRead MoreRacism And The Criminal Justice System1739 Words   |  7 Pagesfrom society that nobody understands it unless they witness it firsthand and with the media spreading filtered information, it becomes even harder for us to identify the key issue; this is especially the case when dealing with the police and racial profiling. If you turn on the news and flip to a channel where it is reporting on the police and their arrests, you will most likely see more arrests pertaining to minorities than other ethnicities. In the news, we can often see a misrepresentation ofRead MoreRacial Profiling : A National Epidemic Of Violent Crime1598 Words   |  7 PagesWith racial profiling heating up debates within the realms of politics, news, and social media it is clear that the topic is no longer to be discussed but rather has become a national epidemic of violent crime. It is a fact that African American males are targeted more than any other race. It is al so a fact that racial profiling violates the U.S. Constitution by misusing the fundamental principle of equal protection under the law established by the 14th Amendment and imposes on the 4th AmendmentRead MorePolice Brutality1519 Words   |  7 Pagesdeadly, excessive force that leads to inexcusable assaults, beatings and shootings. This demonstrates the governmentÐ ¢s role in initiating and prolonging racial suppression and provides the explanation for police brutality to become a federal crime(Black Radical Congress, 3). In history, racist violence, police brutality, has been used to suppress the racial blacks and to preserve power and privileges for the white race. This was done for five primary purposes. First, it has forced black people into slaveryRead MoreRacial Profiling And The Civil Rights Movement1239 Words   |  5 PagesGiselle Cordero PSCI 246: Social Movements Outline Topic/Question: Have Black Lives Mattered? – Racial profiling in the justice system, increased incarceration of African Americans and the idea of â€Å"White Privilege† persists in the United States. 1. Introduction Even though America is the world dominating superpower and is known to intervene on behalf of the violation of human rights internationally, it fails to acknowledge and correct the flaws its legal and justice system present against its

Betc Business free essay sample

This unit examines what pressures there are on businesses to behave in an ethical manner. Learning outcomes On completion of this unit you should: 1 Understand the meaning and importance of ethics in the business world 2 Understand the implications of businesses operating ethically 3 Know the social implications of business ethics 4 Understand ethical concerns facing different communities. Context: You have been asked to research and draw up a report explaining business ethics for an organisation that is about to be floated on the stock exchange. The report will demonstrate an understanding of ethical business behaviour; the implications of it and why it is increasingly seen as such a serious issue for more and more businesses. P1 explain the ethical issues a business needs to consider in its operational activities. †¢Begin by explaining your own understanding of the term â€Å"ethical issues† explaining some of the examples given below. †¢You must explain how these influence an increasing range of business activities. We will write a custom essay sample on Betc Business or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Operational activities: definitions of business ethics; ethical activities; values of businesses; professional ethics; individual ethical behaviour Ethical issues: corporate governance; corporate social responsibility; environment; sustainability; human rights; corruption; trading fairly; legal and regulatory compliance; business practices; working conditions; individual ethical responsibilities P2 explain the implications for the business and stakeholders of a business operating ethically. †¢What does operating ethically mean for the various individuals, groups of people and organisations that have an interest in a business? †¢What conflicts of interest can arise among stakeholders if a business responds to ethical pressures? How might these influences affect a business’ performance? †¢Give examples of laws that may have an ethical basis that businesses must comply with. †¢Explain the implications of these laws on businesses. How has business behaviour been altered by these laws? Give examples to illustrate your point. P3 describe the social implications of business ethics facing a selected business i n its different areas of activity. †¢For this task you will have to select a business to research, (you must agree this with your teacher). You will have to find indicators of the ethical values of the company. oExplore ethical issues relevant to the company Think about: Areas of activity: ethics in finance, e. g. bribery, executive pay, insider trading, lobbying; ethics in human resource management, e. g. discrimination, worker surveillance; ethics in production, e. g. animal testing, genetically modified (GM) foodstuffs, planned obsolescence; ethics in sales and marketing, e. g. spamming, shills, product placement, green washing; ethics in intellectual property e. g. oftware piracy, counterfeiting, peer-to-peer file sharing. Implications: global, e. g. environment; corporate, e. g. legal and regulatory compliance, policies and practices; individual (employee, consumer). P4 examine the ethical concerns of the communities in which a selected business operates. †¢Following on from the previous section you must look at the communities in which your chosen company operates. This could be local, regional, national or global. †¢Identify any pressure groups that might seek to influence the activities of the company. Issues: corporate social responsibility; globalisation; cultural imperialism; ecology; environment; fair trade; corruption; child labour; outsourcing; personal attitudes; whistle blowing. M1 assess how a selected business could improve the ethics of their operations M2 assess the social implications of business ethics facing a selected business in its different areas of activity. M3 explain the ethical concerns of the communities in which a selected business operates and suggest measures that could be taken to improve corporate responsibility. D1 evaluate the impact of a selected business’s ethical behaviour on stakeholders and the business. Websites http://en. wikipedia. org/wiki/Business_ethics Business ethics from Wikipedia, the free encyclopaedia www. bbc. co. uk/news BBC News www. benjerry. co. uk Ben Jerry’s Ice Cream www. business-ethics. com Business Ethics online magazine www. business-ethics. com/100best. htm Business Ethics online – 100 Best Corporate Citizens www. ethicalconsumer. org Ethical Consumer www. ethical-junction. org Ethical businesses directory for the UK and Ireland www. ethicalthreads. co. k Ethical clothing and merchandise www. uk. oneworld. net/guides Guides on wide range of ethical issues www. ft. com Financial Times www. hm-treasury. gov. uk HM Treasury www. ibe. org. uk/faq. htm Institute of Business Ethics www. loreal. com L’Oreal www. nike. com Nike www. nologo. org Official No Logo site www. redbox. gov. uk The Red Box, an interactive resource to teach learners about tax and public spending www. tax. org. uk The Chartered Institute of Taxation www. tes. co. uk The Times Educational Supplement www. uk. thebodyshop. com The Body Shop www. unilever. com U

The Role Of Technology Essays - Machine Gun, Fighter Aircraft

The Role of Technology in World War I Technology made a huge impact in the fighting of World War I. Blimps dropped bombs, airplanes with propellers in the back radioed gun positions, aces battled in their biplanes, ground troops threw and shot grenades at each other, and heavy machine guns snapped off bullets at each other making a big difference in the course of the war. These tools of war can be divided into two major categories: air advances and ground improvements. Airplanes were first used in 1911 in a war in Libya, and also in the Mexican revolution. There wasn't much air bombardment in these wars; the planes were used for reconnaissance missions.1 By 1914, however, this technology was being used in European countries. The importance placed on airplanes in the military can be measured by the amount of money each country spent on getting the technology, and building things using the knowledge. By this time France had spent about 22 million dollars on this new field of military technology. Germany had also spent 22 million. America, however, had only spent half a million dollars on its program.2 Another measure of the importance placed on planes by each country is the number of planes it had and when the actual branches of the militaries were formed. By 1912 France had formed its Royal Flying Corps and had 36 planes in it. Later in 1913 Germany formed its Imperial German Air Service. This air force was based on lighter than air vehicles and dirigibles; they had mostly hot air balloons and blimps. Britain, however, had beaten them all: they had not only formed an air force, but just before the war they divided it from just the British Royal Flying Corps into The Royal Naval Air Service and The British Royal Flying Corps.3 By 1915 airplanes were used for many things on the front. Planes often flew behind enemy lines, landed, let a spy get out, then took off again. The parachute had been invented, but military pilots weren't using it.4 Troops were also often supplied by plane. Planes also told guns where to shoot using wing signals, and messages dropped to machine gun operators. Sometimes, but not often, they used radios. 5 At the beginning of the war slow, stable planes that provided a good lookout position was what the military wanted. These planes had seats for the pilot, and an observer. Sometimes a machine gun was mounted behind the seats so the observer could turn around and fire at other aircraft. Faster, smaller one-man fighters were soon developed to destroy the slower planes.6 Soon planes took on more tasks than just reporting army positions. By 1914 both British and German pilots started throwing grenades and gasoline bombs at opposing troops. These first attempts didn't have significant results. Soon planes started attacking each other. The first recorded aerial battle was on August 26th 1914. 3 British planes forced a German plane to land, then burned the plane.7 German dirigibles, also known as Zeppelins, were a major force in the war because they often carried large bombs. They were hard to destroy while airborne, and were often destroyed while inside their sheds. British incendiary bullets were also able to destroy them. Churchill said, "I believed that this enormous bladder of combustible and explosive gas would prove to be easily destructible. ... our incendiary bullets would harry, rout, and burn these gaseous monsters."8 At first pusher planes were considered the superior single man plane, with the engine and propeller mounted in the back providing the pilot with no risk of hitting the propeller and damaging his own plane.9 However, tractor planes soon outdated pusher planes. Although the propeller and engine were located at the front with the risk of the pilot hitting his own propeller the plane was much faster and more maneuverable.10 Engineers were faced with a problem regarding the machine gun. If the guns were mounted forward the plane would shoot off its own propellers. If mounted on the side of the typical biplane it would likely destroy the struts and braces that braced the wings. One solution was to mount the gun on the top wing of the plane, but this gun was difficult to aim and awkward.11 French, German,

Economic Crime Essay Example

Economic Crime Essay Example Economic Crime Paper Economic Crime Paper Advancing technology has created more opportunities for fraud. Computer use leaves everyone vulnerable to fraud, Including telemarketing fraud, Identity theft, and health care scams. What Is Economic Crime? Economic Crimes can be defined as the intentional use of deceit to deprive another of money, property or a legal right. Economic crimes fall broadly into the categories of those illegal actions under-taken by perpetrators to make money for themselves or those illegal actions undertaken principally to further the aims of their company or other organizations. Types and scope of Economic Fraud: Economic Crimes can be of various types and nature. It varies from individual to organizational level. Most commonly observed in our daily life are as follows: Serial I Crime Type I Brief Description Asset Misappropriation I Include the misuse or theft of assets belonging to a company Bank Fraud I Act to defraud a bank of funds I 3. | Bribery I Anything of value Is offered/accepted with Intent to Influence decisions/octagons of the taker IP Infringements I someone copies or imitate items without any authorization. But no organization is immune from this phenomenon. Fig 2: Economic Crimes reported by sectors Motives behind an Economic Crime: There can be various factors which influence a well educated person into crime. Money/profit is the key motive behind the crime, being committed individual level or an organizational level. Also, within an organization when legitimate or conventional avenues make the attainment of a goal difficult or impossible, many of us, whether as individual or as corporate actors, will resort to illegitimate or deviant avenues. Fraud motive are defined in Fraud Triangle, which often point to three factors, need of an incentive or pressure to engage in misconduct, opportunity to commit fraud and ability to rationalize or Justify their actions. The Main Players: Economic Crimes are committed by people at every level and in practically every department. One survey suggests that Figureheads within a business are responsible for 25% of all reported frauds. Most fraudsters tend to be risk-takers, decisive, extroverted, career- or success-oriented individuals. Paradoxically, it is precisely these traits that are also highly prized in management recruitment. Todays manager needs to possess a high degree of creativity and flexibility, qualities which an be successfully employed both appropriately and inappropriately. The Victims: The Government is a major victim of many forms of economic crime, which indirectly affects all citizens. Examples include Tax evasion and frauds by public servants. Organizations may also be a victims of frauds and are particularly vulnerable to offences involving the financial or technical expertise of employees. Investors and savors are also most vulnerable to financial frauds and other offences such as MISs of Economic Crime: Enron: revealed in October 2001, eventually led to the bankruptcy of the Enron Corporation, an American energy company based in Houston, Texas, and the dissolution of Arthur Andersen, which was one of the five largest audit and accountancy partnerships in the world. Wrought the use of accounting loopholes, special purpose entities, and poor financial reporting, were able to hide billions in debt from failed deals and projects. Enrons stock price, which hit a high of IIS$90 per share in mid-2000, caused shareholders to lose nearly $11 billion when it plummeted to less than Dye ten Ana AT November z Leaping communications, CEO, Rural was sentenced to fifteen years in federal prison. Riggs was convicted last July of fraud and conspiracy charges relating to $50 million in cash advances and $252 million more in margin loans. L. Dennis Kowalski, the former CEO of Tycoon, and Mark Swartz, his main lieutenant. Both of them were convicted by a Manhattan Jury Just three days earlier on charges relating to the theft of $1 50 million and the covert sale of stock worth nearly $500 million more. The Tycoon convictions (twenty-two counts each) cap a three-year investigation involving two trials, nearly ten months of testimony and overall weeks of Jury deliberations. World CEO Bernard Beers, who was convicted of engineering an unprecedented $11 billion fraud. Astray Scandal: Economic Crime Pakistan: Pakistan is not an exemption to the horizon of economic crimes. The concept and the term of Economic Crime is, nonetheless comparatively new in Pakistan as compared to other developed countries. But crimes at individual levels (frauds, forgery, banking loans, kickbacks, bribery) are very common. Corporate crime terminology is, however, a new horizon in Pakistan. Not much cases of corporate crimes are so far reported. Scarcity of reported corporate crimes is not due to honest trading or fair game play. Rather, lack of expertise on the side of investigators and Political influence are main factors for non-reporting of Corporate Crimes. As the result of growing economy, multi-national culture and globalization impact on Pakistan, there are much more requirements to indigenously cope with the globally increasing trend of Economic Crimes. Preemptive measures are needed to cope with the economic crimes trend rather than planning after it got roots in our economy. Some very familiar Economic Crimes which come up in our recent history are Cooperative scandal, Finance Companies, SEEM scams, Land Mafia, Housing Schemes, AKA Pride, Tax Company, kickbacks in defense deals. Legislation in Pakistan: A lot of efforts have already been put through on legislation in recent past. But still lot of work needs to be done. Legislation is ever evolving process especially for the sectors which are continuously growing and new trends and techniques are continuously applied like the case of Economic Crimes. Some highlights of the legislative work done in Pakistan are as follows: Anti Money Laundering Act 2010 The Act mainly applies on different types of currency transactions which exceed amount specified by National Executive Committee.

Similarities Between Martin Luther King Jr. And Malcolm X

Similarities Between Martin Luther King Jr. And Malcolm X The Rev. Martin Luther King Jr. and Malcolm X may have had different takes on the philosophy of nonviolence, but they shared a number of similarities. As they aged, both men adopted a global consciousness that linked them together ideologically. Their personal lives also mirrored each other. Not only did their fathers have much in common but their wives did as well. Perhaps this is why Coretta Scott King and Betty Shabazz eventually became friends. By focusing on the common ground between Martin and Malcolm, its easier to understand why both men’s contributions to society were so important. Born to Baptist Ministers Malcolm X may be well known for his involvement in the Nation of Islam (and later traditional Islam), but his father, Earl Little, was a Baptist minister. Little was active in the United Negro Improvement Association and a supporter of black nationalist Marcus Garvey. Due to his activism, white supremacists tormented Little and were strongly suspected in his killing when Malcolm was six. King’s father, Martin Luther King Sr., was a Baptist minister and activist as well. In addition to serving as head of  the famous Ebenezer Baptist Church in Atlanta, King Sr. led the Atlanta chapter of the NAACP and the Civic and Political League. Unlike Earl Little, however, King Sr. lived until the age of 84. Married Educated Women During a time when it was uncommon for African-Americans or the public generally to attend college, both Malcolm X and Martin Luther King Jr. married educated women. Taken in by a middle-class couple after her biological mother reportedly abused her, Malcolm’s future wife, Betty Shabazz, had a bright life ahead of her. She  attended the Tuskegee Institute  in Alabama and the Brooklyn State College School of Nursing in New York City after that. Coretta Scott King was similarly academically inclined. After graduating at the top of her high school class, she pursued higher education at Antioch College in Ohio and the New England Conservatory of Music in Boston. Both women mainly served as homemakers while their husbands were alive but branched out into civil rights work after becoming â€Å"movement widows.† Adopted a Global Consciousness Before Death Although Martin Luther King Jr. was known as a civil rights leader and Malcolm X as a black radical, both men became advocates for oppressed people across the globe. King, for example, discussed how the Vietnamese people had experienced colonization and oppression when he expressed his opposition to the Vietnam War. â€Å"The Vietnamese people proclaimed their own independence in 1945 after a combined French and Japanese occupation, and before the Communist revolution in China,† King remarked in his â€Å"Beyond Vietnam† speech in 1967. â€Å"They were led by Ho Chi Minh. Even though they quoted the American Declaration of Independence in their own document of freedom, we refused to recognize them. Instead, we decided to support France in its reconquest of her former colony.† Three years earlier in his speech â€Å"Ballot or the Bullet,† Malcolm X discussed the importance of expanding civil rights activism to human rights activism. â€Å"Whenever you are in a civil rights struggle, whether you know it or not, you are confining yourself to the jurisdiction of Uncle Sam,† he said. â€Å"No one from the outside world can speak out on your behalf as long as your struggle is a civil  rights struggle. Civil rights come within the domestic affairs of this country. All of our African brothers and our Asian brothers and our Latin  American brothers cannot open their mouths and interfere in the domestic affairs of the United States.† Killed at the Same Age While Malcolm X was older than Martin Luther King- he was born May 19, 1925, and King was born Jan. 15, 1929- both were assassinated at the same age. Malcolm X was 39 when members of the Nation of Islam gunned him down on Feb. 21, 1965, as he gave a speech at the Audubon Ballroom in Manhattan. King was 39 when James Earl Ray gunned him down on April 4, 1968, as he stood on the balcony of the Lorraine Motel in Memphis, Tennessee. King was in town to support striking African-American sanitation workers. Families Unhappy With Murder Cases The families of both Martin Luther King Jr. and Malcolm X were dissatisfied with how authorities handled the murders of the activists. Coretta Scott King did not believe that James Earl Ray was responsible for King’s death and wanted him exonerated. Betty Shabazz long held Louis Farrakhan and other leaders in the Nation of Islam responsible for Malcolm X’s death, though Farrakhan has denied involvement in Malcolm’s murder. Two of the three men convicted of the crime, Muhammad Abdul Aziz and Kahlil Islam, also denied playing roles in Malcolm’s assassination. The one man convicted of the murder who did confess, Thomas Hagan, agrees that Aziz and Islam are innocent. He said he acted with two other men to execute Malcolm X.

Contracting and Ethics Assignment Example | Topics and Well Written Essays - 750 words

Contracting and Ethics - Assignment Example However, according to the records the individual was able to access non- public propriety information regarding the protester’s performance of the contract that was incumbent, thus appearing to be challenged procurement. Therefore AGPH should be excluded from the competitive bid as it used the services of a former government staff which is unethical with regard to government laws on contracts. With regard to protesting the bid, Government Accountability Office (GAO) will issue the decision arrived at regarding the protest within the hundred days after it has been filed. GAO considers protests that concerns awards of subcontracts by or sales of a federal agency, or of a federal agency, or procurements made by the government agencies other than the Federal agencies. According to Lebowitz (2009) asserted that If GAO finds out that the award is not in compliance with the regulations it may recommend the AGPH to pay the protester the costs of filing and pursuing the protest, and th e bid and proposal preparation. In addition, protests are dismissed on the basis of; contract administration; contracting officer’s affirmative responsibility; and procurement integrity. 2. Since TMA was in the Department of Defense (D.O.D) responsible for awarding and management of contracts. Through the issuance of an RFP the issuance of contracts was to undergo evaluation before being awarded. This includes using the technical approach, past performance and finally price/cost. By employing the services of a former employee of TMA it means the whole process is flawed as he had access to information not available to the public. Therefore, AGPH should have utilized the rating scheme for purpose of evaluating on technical merit. According to the Agency Report (AR) Tab 86, of the Source Selection Evaluation Guide (SSEG) at 11-12, a flaw in the proposal increases the risk of unsuccessful contract performance. Also, TMA should evaluate each of the sub factors stemming from propos al risk. With regard to assessment of the ethics issue relevance rating is vital. In assessment and assignment of performance the following rating scheme is utilized; exceptional, satisfactory, marginal and not satisfactory. TMA is to receive time proposals from entities like AGHP for the contracts of the North Region. TMA’s is to commence evaluation and selection process with the establishment of three evaluation teams: firstly is the technical evaluation team (TET), which is to evaluate technical proposals; performance assessment group (PAG), which evaluates past performance information of offeror’s; and the price/cost unit, tasked with analyzing the price/cost proposals. The teams’ findings are then to be submitted to the chairperson of the Source Selection Evaluation Board (SSEB), who prepares best value award recommendation and evaluation report for consideration by source selection authority (SSA). The SSA following advice from the source selection advisor y council (SSAC) makes the final decision on best value award (G.A.O, 2009). 3. So as to avoid malpractices in the bidding and contracting processes integrity is paramount. The AGPH and TMA should set integrity mechanisms in their organizations. It is useful to conduct interviews including the very key individuals within the TMA who presumably would have wider direct knowledge of the activities of the former government employee. Also

Hyatt Regency Hotel Walkaway Collapse Assignment

Hyatt Regency Hotel Walkaway Collapse - Assignment Example When the walkaways reached the floor, they killed 114 people (Lewis, James, Ralston, Norb& Wheatly 2). The accident left 200 people injured (Banset & Parsons 273). The disaster is related to engineering disasters because of a flaw in the connection of the walkways and the support rods. The disaster led to a number of significant changes in engineering practice. For instance, the engineer who authorized its design lost his license. After restoration, the hotel is currently functioning normally. The Hyatt Regency collapse occurred on July 17, 1981 in Missouri (Banset & Parsons 273). The hotel is located in Kansas City. The accident led to the death of 114 people and caused the injuries of 200 others (Banset & Parsons 273). The disaster has been selected for this paper because it was the most tragic structural collapse in American history at that time. During that fateful night, many people had gathered in the atrium to attend the highly publicized tea party. A significant number of peo ple stood on the walkways. When the accident occurred, all the walkways were packed with many patrons. The design of the walkaways contributed to the extent of the disaster. The fourth-floor bridge was suspended over all the subsequent bridges. In addition, the third walkaway was set off a few meters from the other two. Investigations established a flawed design alteration that increased the load on the connection between the support beams of the fourth walk away and the tie rods that were used to carry the weight of the next walk away. The engineers had clearly failed to observe due diligence. For example, the new design could not handle the weight of the structure. In addition, it could not support the weight of the hundreds of spectators that were standing on it. Consequently, the bridge failed and both walkaways ended up crashing into the lobby. The accident led to the death and injury of many people.

Aristotle Life Story Essay Example for Free

Aristotle Life Story Essay Aristotle was born in Greece approximately 384 B. C. , to parents Nicomachus and Phaestis. His father Nicomachus was physician to King Amyntas of Macedon, and his mother was of a wealthy family from the island of Euboea. When he was 17 he went to study at Plato’s Academy in Athens, where he stayed for around 20 years. Aristotle did very well at the Academy, but when Plato died he was not chosen to be among the leaders. Soon after Plato’s death he left to tutor Prince Alexander, later to be known as Alexander the Great. Aristotle later returned to Athens to open his own school which is known as the Lyceum. Aristotle was more interested in science than other philosophers in his time, maybe because his father was a doctor. He’s sometimes referred to the father of science. One of Aristotle’s most important contributions was sorting and classifying the various knowledge of science into branches. He thus laid the foundation of science today. Aristotle is also thought to be the father of the scientific method. In ancient times, gods were thought to be the cause of events in nature. Early Greek philosophers questioned the roles of gods as the cause of these events. If the gods weren’t the cause of these events, who was? Philosophers advanced explanations based on philosophical principles and mathematical forms. Aristotle found that unsatisfactory. He was the first to realize the importance of empirical measurement (measurement based on observation and experience), believing that knowledge could only be gained from building on what was already known. Aristotle’s contributions were measurement and observation, which is what science, is built upon. He was the first to propose the idea of induction as a tool to gaining knowledge, and understood that theoretical thought and reasoning had to be supported by real world findings. His method is summarized as follows; Study what others have written about the subject, look for the general consensus about the subject, and perform a systematic study of everything even partially related to the topic. This is the very first sign of a scientific method. Aristotle loved categorizing and organizing things. For instance, with the soul he thought it was composed of two components: a rational and irrational part. The rational half was subdivided into â€Å"scientific† and â€Å"calculative† sections, and the irrational half was made up of a â€Å"desiderative† (desire) part and a â€Å"vegetative† part. A person operates by combining all the workings of these parts. The vegetative part may be hungry. The desiderative part may want lots of candy instead of, say, vegetables, but the scientific part knows candy will be bad for teeth and weight. The calculative part will then try to work out a compromise. Problem solved! Aristotle assumed that there must be some basic commodities that combine to make all things. These basic four groups are, earth, water, air and fire, and each of these are a combination of two of four opposites, hot and cold, and wet and dry. For example, fire is hot and dry. He claimed that all materials were made from various combinations of these elements. His love of categories also led him to divide people into three groups. The big group, who loved pleasure, a smaller group -includes politicians- that love honor, and the smallest, but most elite group, who love contemplation. The latter were the philosophers. Aristotle’s next task was to find the key reason that separated humans from animals. His answer was our ability to reason. Aristotle’s really great contribution was that of biology. Having established the division between humans and animals he set out categorizing all he could of the biological world. He grouped animals with related characteristics into genera and then divided these genera into species. This same process is used today, though subsequent research has caused some of the individuals to be moved around. He wrote in detail about five hundred different animals in his works, including a hundred and twenty kinds of fish and sixty kinds of insect. He was the first to perform dissections on living things, so he could try to make sense of how they worked. He described how a chick develops within an egg and realized that dolphins and whales were different from fish. He noted that ruminant animals, like cows, had multi-chambered stomachs, something that separated them from simple-stomached animals. Not only did he study large animals, but small ones as well, such as bees. He also made lead way in botany. He attempted to classify over 500 plants into trees, shrubs, and herbs and, while he was not entirely successful in this, he certainly understood which features of plants were necessary for making distinctions. This time he has earned the title of father over botany. Aristotle made many other contributions to science, one of which was proving the Earth was a sphere, although he wrongly thought that Earth was the center of the universe. Plato disagreed with this theory; he sided with Copernicus who rightly thought the sun was the center of the universe. Aristotle also studied physics. He did not have many tools for experimentation so he could not measure time or speed. He did not allow for invisible forces, so he did not study gravity. Things fell to Earth and the moon circled the earth because that’s what they did. In spite of his limitations, Aristotle made some remarkable contributions to physics and laid the groundwork for Galileo, Newton, and Einstein. He reasoned that infinite velocities could not exist, that time and movement are continuous and inseparable, and that time was even flowing, infinite, and the same everywhere at once. These are all true, and are part of Einstein’s Theory of Relativity. That’s amazing considering the limitations he had to work with. Anti-Macedonian feeling broke out in Athens around 323 BC. The Athenians accused Aristotle of irreverence. He chose to flee, so that the Athenians might not twice sin against philosophy (by killing him as they had Socrates). He fled to Chalcis on the island of Euboea. Aristotle died in 322 BC. After he died a lot of his work and research was lost. It is thought that today we only have about 1/3 of what he had originally written. Aristotle was an amazing scientist, but even he was not without mistakes. For example, he wrongly assumed that force is required to keep an object moving at constant speed. This error held progress back for years. He also, as I stated before, thought the Earth was the center of the universe. But, really isn’t that what science is about? Trial and error, make mistakes then learn from them, that’s how you make real progress in science. Aristotle is proof of this. Look at all the progress we have made today, from his mistakes. Bibliography Bibliography 1. http://www. ucmp. berkeley. edu/history/aristotle. html 2. http://www. enotes. com/topics/aristotle 3. http://www. philosophypages. com/ph/aris. htm 4. http://jcmooreonline. com/2010/12/28/aristotles-enduring-contribution-to-scien ce-education-and-physics/ 5. http://www. iep. utm. edu/aristotl/ 6. http://galileo. phys. virginia. edu/classes/109N/lectures/aristot2. html 7. http://www. valpo. edu/geomet/histphil/test/aristotl. html 8. http://plato. stanford. edu/entries/aristotle-biology/#LifWor 9. http://leavis. tripod. com/science. htm 10. http://www. experiment-resources. com/history-of-the-scientific-method. html 11. http://www. sciencekids. co. nz/sciencefacts/scientists/aristotle. html 12. http://www. historyforkids. org/learn/greeks/philosophy/aristotle. htm 13. http://www. mlahanas. de/Greeks/AristotleBiol. htm 14. http://www. thocp. net/biographies/aristoteles. html 15. Info from class 16. Physical Science Book.

Breast Implants Essay -- essays research papers fc

Breast Implants In the early 1980’s breast implants began gaining popularity, but they have been on the market since the early 1960’s. They were invented by plastic surgeons Cronin and Gerow. Dow Corning began manufacturing them commercially in 1962. Today over two million women have undergone breast augmentation surgery. There are many negative consequences that may arise from the surgery, and there is always the risk of infection or rupture. When beginning my research on the subject I assumed there would be a plethora of information. I was shocked to find out that there wasn’t. Silicone breast implants have been around for 40 years and there have been very few studies on their consequences, and possible effects on a woman’s body. The Food and Drug Administration has never approved the use of silicone implants. It is a surprising fact, because silicone implants are still being used today, but only by women who agree to be in a study of their safety. The politics surround ing breast augmentation are sketchy for lack of a better word. They have been promoted as being safe, yet their safety has never been fully questioned. While looking online, I found a variety of websites on the subject. There were many websites from the plastic surgery industry promoting breast implants as being safe. Then there were the websites like http://www.siliconeholocaust.org, this was by far the most disturbing site I have ever seen. There were dozens of pictures of real women who had their lives ruined by breast implants. If these, and other women had the little information that is available on the subject, they may have opted not to have the surgery because of the unnecessary consequences they now suffer. Every woman has her own reasons behind her decision to get breast implants. Some women have undergone mastectomies, and get breast implants in order to feel â€Å"normal† again. According to the National Women’s Health Network (http://www.womenshealthnetwork.org) women who have lumpectomies have the same survival rate of women who have mastectomies as a result of breast cancer. They concluded that up to 40 percent of women who were diagnosed with breast cancer underwent unnecessary mastectomies. These mastectomies, whether necessary or not may lead to women to undergo breast augmentation surgery. Other women have always felt that their breasts were too small, and out of proportion ... ...o have had breast implants often cannot get health insurance because they have an increased risk of illness. If a woman is able to obtain health insurance she may have to pay a higher premium because of her past plastic surgery history. After learning of the negative consequences that may, and probably will arise from breast implants, it is surprising that so many women are still getting them. It is major surgery and the benefits of having larger breast is not worth the unnecessary chance of death or serious pain for life. More work needs to be done on the study of breast implants because women need to know what they are putting in their bodies. Breast implant manufacturers need to be held responsible, and plastic surgeon should be required to make sure every woman is fully aware of all the possible side effects before she has any type of surgery done. Works Cited Brown University, Department of Biology and Medicine. 14 Feb. 2003 . Darrick Antell Homepage. 15 Feb. 2003 . Department of Health. 15 Feb. 2003 . National Center For Policy (CPR) For Women & Families. 18 Nov. 2002 . National Women’s Health Network. 3 Mar. 2003 . Silicone Gel Breast Implants. 14 Feb. 2003 .

Assessment of Financial Health

Reocities Home Neighborhoods Making Of Cases in Finance – Final Project Report Friendly Cards, Inc. (1988) Gary Cao Noah N Flom Robert Harris Srini Pidikiti May 1997 TABLE of CONTENTS 1 Assessment of Financial Health & Pro Forma Financial Statements 1. 1 Review of History and Statement of Financial Health 1. 1. 1 Industry 1. 1. 2 Friendly Cards History 1. 1. 3 Friendly Financials 1. 2 Review and Evaluation of Pro Forma Statements 1. 3 Financial Policy / Covenants 2 Beaumont's Decisions 2. 1 Envelope Machine Proposal 2. 1. 1 Evaluation 2. 1. 2 Financial Effect of Investment 2. 1. Recommendation 2. 2 Evaluation of West Coast (new equity offer) 2. 2. 1 Advantages 2. 2. 2 Disadvantages 2. 3 Valuation of Creative Designs, Inc. 2. 3. 1 Capital Structure Argument 2. 3. 2 Weighted Average Cost of Capital Assumptions (WACC) 2. 3. 3 Cash Flows, Terminal Value, Equity Value Valuations 2. 4 Pooling Implictions (Friendly + CD) 2. 5 Friendly Cards Stock Valuation 3 Overall Assessment 4 Goal s for the Financial Structure of Friendly Cards, Inc. ——————————————————————————- PART 1. Assessment of Financial Health & Pro Formas 1. Review of History and Statement of Financial Health Wendy Beaumont, president of Friendly Cards, Inc. , has rapidly expanded her greeting card business through internal growth and acquisitions. Ms. Beaumont realizes that money is currently tight, however, she is adamant about future growth and has sought our opinion as to determine her best course of action. In presenting a decision we will first conduct an analysis of the industry, then give a short history of Friendly Cards, Inc. (Friendly), and then examine Friendly's financial statements to determine the financial health of the company. Industry Information The greeting card industry is dominated by three large companies, (Hallmark, American Greetings, & Gibson), which are referred to as ‘The Big Three'. ‘The Big Three' dominate market share, and the remaining competitors are predominantly small private and family owned firms. The greeting card industry is characterized high fixed costs due to: large inventory costs, large investment costs in the establishment of efficient distribution lines, and the need for a highly diversified product lines. Market leaders enjoy great economies of scale which tends to hinder new ntrants into the market. As a result, the card industry is capital intensive and very competitive. The number of firms competing in the industry has decreased by an annualized rate of 15% over the last three decades. Exiting firms were typically smaller in size, the majority of which had less than 50 employees. Additionally, the competitive nature of the market results in a high degree of pric e sensitivity which culminates in smaller margins on sales. Sales tend to be very seasonal in nature with peaks during major holidays. There is trending toward a larger variety of card offerings (increasing inventories), shorter carrying/selling periods, increased diversification of product lines, and an increase in sales of everyday cards as compared to holiday cards. Friendly Cards, Inc. Beaumont Greeting Card Co. was founded by Wendy Beaumont in 1978, in New York City. She later acquired Lithograph Publishing Co. and took these companies public a year later for $3 a share under the name Friendly Cards, Inc. Friendly has rapidly expanded by acquiring Glitter Greetings of Lansing, Michigan (for cash and equity), whose primary market was selling cards to supermarkets. Soon thereafter, it acquired Edwards & Co. of Long Beach, New York (for cash), whose primary market was selling juvenile valentines through chain, drug, variety, and discount stores, as well as, to wholesalers and supermarkets. These acquisitions greatly enhanced Friendly's distribution line expanding it to a regional power. Later Friendly acquired a California firm (Friendly Artists) which extended the distribution line to a national basis. Friendly Artists' primary market was prepackaged cards direct to the warehouse. Twenty-five percent of Friendly's sales are prepackaged boxes, which have a higher margin than regular cards due to lower return rates and lower handling costs. Currently, Friendly appears to be a niche player in the prepackaged box cards market and has avoided entry into the premium card market, thus, avoiding direct competition with the ‘Big Three. ‘ Friendly's sales are more concentrated than the industry with the majority of sales occurring near Christmas at 30% (vs. Industry 32%), and Valentines Day at 25% (vs. Industry 7%). Thus, over 55% of sales occur within a 3 month period. Plants at Friendly are being used at capacity thus, growth would necessitate further additions or acquiring contract services. Friendly's distribution line is effective for a smaller firm due to its structure. Of twenty salesmen, one-third work on commission thus lowering Friendly's costs. However, one problem with using salesmen on commission and having such a small sales force is the tendency to sell to rack jobbers and wholesale distributors. This decreases the potential margin on cards by two-thirds. Friendly's Financials Sales have increased by over 50% between 1985 to 1987. Cost of goods sold has decreased as a percentage of sales in each of those years thus, producing an increasing margin ( 29. 36% in 1985 to 35. 15% in 1987). The rapid growth by acquisition and the national distribution channels that were accomplished by it, have affected the number slightly. In 1986 selling and delivery expenses increased by 1. 45% and this leveled out in 1987. G&A expenses also spiked in '86, reflecting the recent purchase of another company, and then settled back in 1987. However, while sales may have grown rapidly they have not matched the increase in asset growth, which nearly doubled in 1986. Growth in this company is being funded by improving margins and by increasing leverage, as indicated by the Dupont Data. Although the acquisitions were acquired by both cash and equity, the majority were debt financed, which explains why the ROE figures have increased so dramatically (almost 16%) in the last three years. The activity ratios indicate that the receivable to payable were in arrears by 36 days in 1985 increasing to 52 days in 1987. This is probably a result of increased sales to less creditworthy individuals or inattention to collections. Inventory turnover umbers are shrinking due to the continually larger inventories being carried. Net fixed asset turnover has decreased by 2. 3% between 1985 and 1987. This can be explained by higher growth in assets than in sales. The liquidity ratios indicate that the asset to liability ratio for this company is trending down. The current ratio indicates that the company is becoming slightly more insolvent with a current ratio of 1. 1 8 during '87. However, by looking at the Quick ratio and discounting for the affect of inventory in the asset number, the company is dramatically less liquid at 0. 67 in 1987. This indicates that the company is very highly leveraged and is using its large inventory levels in order to support its substantial borrowing needs. Friendly's actual growth rate exceeded the sustainable growth rate in 1986 and was equivalent in 1987. This difference in 1986 produced a need for added debt to finance growth. However excess funds were not needed to fund additional growth in 1987 since the actual rate of growth did not exceed the sustainable rate of growth. This can also be seen in the total debt to equity ratio which increased from 3 in 1985 to 5. 21 in 1986 and reduced to 4. 1 in 1987. The leverage ratios indicate that the bank loans to debt are fairly well matched, with loans being less than receivables, however, increasing in percentage. Interest bearing debt jumped dramatically in 1986 as a result of debt funded acquisitions but continues to level off along with total debt to equity figures in 1987. Finally, debt to assets has increased dramatically in the last th ree years, increasing by 7. 5% to 82. 5% in 1987. Thus Friendly Cards seems to be very highly leveraged, even more so than other firms in the industry although the trend is to increase debt. This highly leveraged position coupled with the high fixed costs and low margins characteristic of the industry, exposes Friendly as extremely susceptible to fluctuations in the market. Therefore, further debt growth may not be advisable–especially since it is currently violating its existing debt covenants. However, Continued growth, however, is needed as to allow the company to further take advantage of its existing distribution lines and realize further economies of scale. 1. 2 Review and Evaluation of Pro Forma Statements The parameters that Ms. Beaumont has set for the pro formas seem reasonalbe for the most part. There are, however, some questionable numbers. For instance, all the forecasts are based on continued sales growth at 20% per year. When compared to astronomical growth rates of 58% in 1986 and 27% in 1987, these estimates appear almost conservative. The majority of the growth in the past, however, were associated with major acquisitions which served to inflate the sales numbers. The historical reluctance to use equity to grow would serve to limit growth if continued into the future. Furthermore, it may be difficult to continue to grow at such a high rates in an increasingly competitive market. Holding costs of goods runs at 65% of sales and may also present a problem depending on whether the company can continue to manage its costs as it continues to grow. It could be argued that the reason CGS has dropped recently is due to the acquisition of Friendly Artists and the increasing reliance on a sales mix made up of low cost prepackaged boxes of cards. A shift in the mix away from these items could increase costs. Also, further acquisitions will serve to push up delivery and selling costs. For our purposes, however, holding them flat seems reasonable. The tax rate seems low at 38% but, depending on the new volume of sales and the maximum tax rate for a corporation, this rate could be even higher. And while the rest of the numbers seem to follow their previous assumptions, the inventory turnover, debt to asset, and interest rate assumptions could be assumed differently. As a result of increased competition in the industry, increasing variations of cards as well as shorter holding duration, it is very unlikely that inventory turnover would improve to 1. 1, and it may very well drop well below this number, possibly to 1. 75. Since growth is likely to continue into the future, an increased amount of inventory will be needed for new market areas. Debt to assets needs to decrease, but this will be difficult to do without funding growth by equity rather than debt. The large sales growth assumptions are directly related to acquisitions, thus increasing assets. If this is done through equity, this number is very realistic. Finally, there may be a problem with the assumption that interest rates on LTD will be 11%. The Monetary Policy Report to Congress indicates that rates should tend to decrease in the future so this rate may be attainable even to such a highly leveraged firm as Friendly. Without more information this estimate seems fine. 1. 3 Financial Policy / Covenants Friendly's apparent financial policy is rapid growth by debt. This debt-financed growth may be due to a ownership issues that could affects Ms. Beaumont's control over her company. The financials indicate that growth is also taking place at the expense of margins, as indicated by the Dupont data. The company believes in the economies of scale of the industry and appears to be establishing a national distribution network. While costly in the short run, this strategy may enable a viable and profitable position in the industry. The elements of Friendly's financial policy appear to be the following. Friendly's capital structure mix is governed by a debt orientation. Its debt/assets ratio is currently at 82. 5% which places is significantly below the AAA rate. AAA bonds are listed at 9. 7% while Friendly can only borrow at 11. 5%. While equity has been used in recent acquisitions there is a strong preference by management to use debt funding. Without question, Friendly is at an integral juncture. Existing lines of credit are maxed out and the bank is imposing new covenants on future loans: bank loans ; 85% of AR and liabilities not to exceed three times the BV of the company. Friendly currently has a $6. 25 million line of credit. Under the current structure Friendly will be in violation in 1987 with bank loans at 87% of AR and debt to equity is at 3. 13 times. Significantly, bank and trade credit for Friendly is expected to reach over $9 million in Dec. '87. Long term and short term debt are both fueling growth. The basis is assumed to be the prime rate (which is 8. 5%) plus 2. 5% points. This is assumed to be a fixed rate established at the time of borrowing. The company's currency is the U. S. dollar and the company does not have any exotica policy to mention. Control of the company rests solely with Ms. Beaumont as she is both the president and the leading shareholder, possessing 55% of the stock. An additional 20% of the stock is owned by employees and officers of the company. Finally, earnings are retained for future growth and meeting current obligations. There are no dividend payments and the stock has depreciated in value from a high of $15 a share. PART 2. Decisions faced by Ms. Beaumont 2. 1 Envelope Machine Investment Evaluation of the Envelope Machine We do not agree that the investment in the envelope machine will result in a return of 31%. The reason for this is that the working capital needed to fund the machine would be funded by additional debt by the company. The interest on the debt needs to be considered before evaluating the total return on the investment. Under this scenario, and considering that Friendly Cards' interest on debt is 11% the interest expense is $22,000 per year before taxes. Our Estimated Annual savings from Operation of Envelope Machine, Years 1 through 8 ( Dollar figures in thousands) is as follows: Savings: Outlays for envelopes purchased in 1987 $1,500 Incremental expenses from manufacturing envelopes: Materials$ 902 Warehouse 94 Labor 91 Depreciation 62 Total Expenses $1,149 Increase in Profit before Taxes (decrease in COGS) 351 Interest Expense on Working Capital 22 Actual Increase in Profit before Taxes 339 Increase in Income Taxes @. 38 125 Increase in profit after taxes $ 204 The projected Cash flows for the investment in the machine are: (attachments). Based upon the cash flows projected in the above Table the internal Rate of Return on the investment is 26%. Based upon Friendly Cards Cost of Equity which is 20% (Appendix WACC) buying the machine with all equity at 20% or debt at 11% is recommended Financial Effects of Investment The Financial effects of buying the envelope machine are can be examined in detail in Appendix Machine. The activity ratios for Friendly if the investment in the machine is made are: (attachments). The investment in the machine has the following effects: * Decreases Cost of Goods Sold by about 1. 5 % which in turn increases the Gross Margins * Decreases Inventory Turnover from 1. 91 to 1. 86 * Increases Funds needed in 1988 by $418,000, in 1989 by $323,000 and in 1990 by $112,000. * Earnings per share increase to $2. 89 in 1990 from $2. 53 in 1990 without investment * By making the investment in the machine Friendly would not be able to meet both of the covenants required by the bank The ratio of the bank loans to receivables exceeds . 85 in all three periods. * Ratio of Friendly's total liabilities to the book value of the company's net worth exceed 3 in 1988 and 1989 which do not meet the covenant but in 1990 the ratio drops down to 2. 94 where it meets the covenants. 2. 2 Evaluation of West Coast Offer (New Equity) We agree with Ms. McConville's conclusion that Friendly should accep t the offer from the West Coast Group at the terms stated if that was the only option available to Friendly Cards. The advantages of this proposal would be: Agency costs will be only 5% compared to the actual costs if an investment bank was used to sell securities of the company in a public offering. * The infusion of equity would enable Friendly to meet all the covenants required by the banks (Appendix WC) enabling Friendly to continue its rapid growth without any financial restrictions from the bank. * The equity infusion would enable Friendly to invest in the envelope making machine and reduce its cost structure and still meet all covenants required by the bank. * The uncertainty about how many securities will be sold if a public stock offering is held is eliminated. Continuing rapid growth would enable Friendly to retain most of the sales representatives who might shift to a competing firm if growth is slowed to enable Friendly to meet its financial covenants * The price that Fr iendly is getting is more than reasonable based upon the present value of the discounted cash flows as shown in (Appendix Valuation) Disadvantages of accepting the proposal would be: * Loss of control. Ms. Beaumont's who presently owns 55% of the outstanding shares would own 40. 37% of the company after the equity infusion. Even though along with the employees of the company she would own 60% of the company she would not be able to make unilateral decisions. * The West Coast Investors who would own 26% of the company would have a significant say in how the company should be run which may affect the current management structure and aversely effect their ability to mange the company as they wish. * Reduction of EPS. Earnings per share would be reduced to $2. 29 per share from the projected $2. 89 per share in 1990 with the purchase of the machine and without equity infusion due to the dilution effect of the new shares. This earnings dilution would probably result in a lower share price. (Approximately $18. 32 instead of $23. 12 considering a price multiple of 8). 2. 3. Valuation of Creative Designs, Inc. Capital Structure Argument Ms. Beaumont had been considering a possible acquisition of Creative Designs, Inc. (CD), a small mid-western manufacturer of studio cards. She had examined the details of CD's operations for four months, and believed that under her management, CD could immediately reduce cost of goods sold by 5%, and reduce other expenses by 10%. If Friendly acquires CD in early 1988, assumptions are made that CD's sales would stay flat during 1988 but would grow at 6% per year thereafter. Based on the following table from case facts, there is a wide range of Debt-to-Equity Ratios for the four companies within the same industry. American Greetings'(AG) D/E ratio increased from 0. 35 in 1985 to 0. 63 in 1987. The reason for this upward trend was that American Greetings had diversified its business segments; from solely relying on greeting card sales AG expanded into gift wrap and stationary goods, such as playing cards, gift-books, and college study guides. Such diversification efforts demanded higher debt levels. In addition, AG was a large company with annual sales of $1,174 million in 1987, up 16% from 1985. Gibson Greeting's (GG)D/E ratio decreased from 0. 71 in 1985 to 0. 49 in 1987. The reason for this downward trend was that Gibson was a relatively small company, with annual sales of $359 million in 1987, an 8. 8% increase from 1985. GG's growth rate was significantly lower than American Greetings. The total debt-to-equity ratio of Creative Designs would decrease over the next several years. Since CD's sales in 1987 was $5 million, it was much smaller than the above two companies. Based on the pro forma financial statements for the period of 1988 to 1990, we see growing sales and EBIT. As a small-size manufacturer, the best capital structure would be: financing its operations mainly by internal growth and a significant reduction in the company's debt levels. Ms. Beaumont wanted to acquire CD for the following reasons: * In the highly competitive market with high cost in distribution and low margin, Friendly had to grow in order to survive, and CD was a good target; Since CD's shareholders agreed to the acquisition by stock-exchange, â€Å"pooling of interests† accounting method would be used, and the consolidated financial statements more attractive than without CD, and Friendly need not record goodwill (if any) and avoid amortization of goodwill; * Since CD had a relatively low debt level and a very low â€Å"bank loan to receivable ratio†, while Friendly had difficulty meeting its bank borrowing restrictions, acquiring CD would make possible for Friendly to meet the covenants; Friendly can easily integrate CD to its high growth strategy, and expand Friendly's market presence in the mid-western region. Weighted Average Cost of Capital Assumptions (WACC) Based on the case facts that the premium for equity risk was 6% on long-term governmental bond rate of 8. 37%, we may calculate the unleveraged beta for American Greetings and Gibson Greeting, and use a derived estimate as a proxy for CD's unleveraged beta. 1987 Financial Data for Two Large Publicly Traded Companies To be conservative, we assume the unleveraged beta for CD is 0. 77. Since the cost of debt was 11% and the tax rate was 38%, we calculated CD's cost of equity is 13. 97% in 1988, and the weighted average cost of capital (WACC) is 11. 07%. Over the next five years, CD's WACC would increase to 11. 92% in 1992 due to the decreasing D/E ratio and therefore the tax shield effect. Cash Flows, Terminal Value, Equity Value Valuations In addition to the above information on WACC and sales growth rate, we have made the following assumptions: * Sales will stay flat in 1988, but will grow at 6% per year after 1989. * Cost of goods sold will stay at 55. 2% of sales level. * Depreciation, â€Å"Selling, delivery, and warehousing expenses†, and â€Å"general and administrative expenses† will grow proportionately to sales growth. * Increased Retained Earnings will be used to reduce long-term debt. * Prepaid expenses will increase by a small amount each year. * Interest expenses will decrease over the period since the debt level will decrease. * No divi dend will be paid after 1988. Based on the above assumptions, we found that the total present value for CD was $4. 349 million. Adjusting for the interest-bearing loans totaling $1. million, the net worth of CD would be $3. 049 million, $1. 168 million higher than the calculated value of the stock exchange ($1. 881 million). This indicates that acquiring CD is a good transaction for Friendly. 2. 4 Pooling Implications (Friendly + CD) By using the â€Å"pooling of interests† accounting method, we constructed the Friendly and CD consolidated financial statements. (see Appendix Valuation – Friendly + CD) The impact on 1988 pro forma financial statements is as follows: * New bank loans needed decreased from $1. 585 million to $1. 357 million; * EPS increased from $1. 7 to $1. 73; * Net profit margin increased from 4. 96% to 5. 49%; * Assets turnover increased from 1. 01 to 1. 03; * ROA increased from 5. 01% to 5. 49%; * ROE decreased from 25. 23% to 20. 5%; * Days in Recei vable reduced from 157 to 149; * Bank loan to receivable ratio decreased from 0. 9 to 0. 74; * Interest bearing debt to equity ratio decreased from 2. 62 to 1. 92; * Total debt to equity ratio decreased from 4. 04 to 2. 62. The overall impact of acquiring CD to CF is positive. The result of pooling is in line with Friendly Cards' financial strategy. In the long run, acquisition of CD would become an integral part of Friendly Cards' strategic plan for the next few years to achieve a higher growth rate and increased market share. In the short run, acquisition of CD would meet Friendly Cards' immediate financial needs enabling the company to meet the bank's covenants, specifically, to reduce the â€Å"bank loan to receivable† ratio to an estimated 0. 9 in 1988 to 0. 85 or lower, and to decrease â€Å"total liabilities to equity ratio† from an estimate 4. 04 in 1988 to 3 or lower. The result of pooling shows that these two requirements are met. 2. 5 Friendly Cards Stock Valuation Assumptions: Capital structure Based upon the pro forma financial statements and the bank covenants' requirements, we assume the capital structure to be 75% debt and 25% equity. Any other capital structures with the reduction of debt would make it more difficult to get additional capital through equity. We need the debt financing to be able to meet Ms. Beaumont's growth requirment. Discount rates We assume the cost of debt to be 11%. This is based upon the following facts: In early 1988, interest rates were declining, the 10-year Treasury Notes rate declined from 9. 52% in October 1987 to 8. 9% in January 1988; even though the short-term Prime Rate increased to 9. 07% by October 1987, it had decreased to 8. 5% by January 1988; furthermore, the Federal Reserves Monetary Policy Report(Jan. 1988) stated that â€Å"high rates of capacity utilization and low unemployment suggest the needs in maintaining progress toward price stability†, indicating that interest rates would stabiliz e at the present level. Also the need to reduce the trade deficit, business and labor would continue to exercise restraint in price and wage behavior, indicating the Fed would hold interest rate at the present level, or even reduce them. We assume the interest rates would hold stable at the present level of 8. 5% and that the lending institution will continue its premium of 2. 5% over prime. We assume all the funding for the debt to be short term as most of the debt would be used to fund the current assets (receivable and inventories). This would be a proper matching of funds. Based on the valuation of Friendly Cards, we found that * FCFE Method (Free Cash Flows for Equity): the valuation was -$ . 95 per share ; * Free Cash Flow for Capital: the valuation was -$5. 5 per share ; * Book Value Method: using 11/2 times Book Value the valuation was $7. 40 ; * P/E ratio (multiple) method: using the industry average P/E ratio of 7, the valuation was $9. 50 per share. (Please refer to appendix Valuation – Friendly Cards, Inc. ) The only way the company's stock price was worth $8 to $9. 50 per share was that West Coast Investors and Creative Designs valued the company using a Price to Earnings multiple method. **Note** We attempted to back out a discounted cash flow model that would justify an $8 or $9. 50 share price. By altering certain assumptions, most specifically the sales growth rate we can achieve positive valuations of the stock price. Slower growth in sales PART 3 Overall Assessment Our recommendation to Ms. Beaumont is to (1) First, acquire CD with a stock exchange of 198,000 shares at $9. 5/share, (2) With the additional leverage obtained by the CD acquisition, purchase the envelope machine. As evidenced by the above matrix and graphs, even though Friendly Cards would achieve a higher EPS by not acquiring CD but buying the machine, it would not meet the bank covenants. Advantages of our recommendation: * Meet all of the bank's covenants; * Meet Ms. Beaumont's growth needs; * Meet Ms. Beaumont's requirement on D/E ratio of 2 by 1990; * Maintain a relatively high level of control for Ms. Beaumont over the company; * Position the company for future growth by providing a more favorable D/E ratio. Disadvantages of our recommendation: * EPS dilution by acquiring CD from $4. 64 per share in 1992 as compared to $4. 15 with the CD acquisition; * Reduce Ms. Beaumont's control from currently 55% to 41. 5% with CD acquisition. PART 4 Goals for the Financial Structure of Friendly Cards, Inc. 4. 1 Friendly Cards capital structure consideration Our recommendation is that Ms. Beaumont to move Friendly Cards' capital structure closer to 60% debt and 40% equity (a D/E ratio of 1. 5). Our reasoning for such a recommendation is as follows: Flexibility: For future growth and possible acquisitions, Funds for acquiring more assets (another envelope machine! ) to reduce costs. Risk: Ability to deal with possible adversity into the future (i. e. , low sales) Lower risk level than current D/E ratio Income: Future growth in earnings due to ability to acquire market share through acquisitions. Further exploit the economies of scale to reduce CGS, Handling and Distribution Costs Control: Maintain controlling interests in the company Timing: Having a higher D/E Friendly can issue equity at more favorable terms at a later date when EPS is higher, the market environment is â€Å"friendlier†, and the company will be in a better financial position. Our recommended target capital structure for Friendly Cards, Inc. of 60/40 D/E is realistically attainable within 3-4 years (mid 1991). Friendly Cards Case Attachments

No Pain No Gain

„No pain, no gain† It’s completely true that you can’t accomplish anything without going through some sort of pain. Life is brutal. If we dream to be successful and victorious in something that we want to achieve, we have to prepare for a lot of hard work and some ups and downs, which will bring us some thoughts to give up. Who said that life is going to be easy? No pain, no gain. Is this statement totally true? To start with, we have to endure much during life nowadays, in order to achieve the social and material status desired by so many people.You have to go through a lot of pain, especially moral pain, because you often feel unsatisfied and discouraged. The key point to success is motivation. Without motivation you will achieve nothing and you will be not able to withstand the cruel road to success. Motivation is something that push you to work harder, makes our goals achievable and helps to beat all the pain and problems, which disturb us. In addition, I will give you an perfect example, which superbly shows difficulties of assiduous work to achieve some kind of success. This is athlete’s lifestyle.They have to completely devote themselves to be the best in their sport domain. They risk all their future, I mean school, knowledge, relationship, to be on top and successful. They often have some moments that they think it was bad decision and that they do have no motivation and power to continue this hard lifestyle, so they think about giving up. But when these athletes will grit their teeth, keep hard working and feel the taste of success, all these problems will vanish and they will be happy that their hard work brings awaited results.All things considered, if you want to be victorious in your work, you have to break some impediments and if you find some strength to do this, you will be totally satisfied and fulfilled in your job. That’s why you have to realize that nothing is going to hand itself to you – you have to work for it. And if that means going through some pain, it doesn’t matter, for if you work hard enough, you’ll definitely get some gain out of it.

Top 10 part-time holiday jobs this season

Top 10 part-time holiday jobs this season ‘Tis the season†¦to think about whether you want a seasonal holiday job this year. If you wait until the Black Friday ads are out and Starbucks unveils its holiday coffee cup designs to start thinking about what you want to do for your seasonal holiday job, it’s likely too late. So we’ve got some of the best part-time holiday gigs this year, to help you seize those early opportunities to make extra cash this holiday season. But before you get started, there are a few checklist items you should have ready, so that you’re ready to apply for jobs as they come up- because seasonal hiring can move awfully fast.Get your resume application-ready. Have your interview outfit ready to go. For a seasonal job, this may be more casual than the traditional dark suit. Whatever outfit you choose, it should be neat (no loose threads or weird hems), cleaned, and ready to go at a moment’s notice.Get in the right mindset. Holiday jobs are likely to demand your time during unconventional or inconvenient shifts. Make sure your mental expectations are aligned with a potentially hectic schedule that doesn’t leave you with a lot of free time or holiday down time.Let’s look at some of the top opportunities this holiday season, from the classic (retail) to less orthodox jobs you may not have considered.Retail Sales AssociateWhen you think of â€Å"seasonal part-time job,† you probably think of a role in a busy retail store, helping keep shelves stocked while hordes of holiday shoppers come through looking for the perfect gift. And that’s because it’s a perennial opportunity for people looking for temporary work over the holidays. You don’t need to commit to retail as a career for this kind of job, but it can also be a great experience-builder if you want to seek more retail opportunities in the future. This tends to be an â€Å"all hands on deck† kind of job. You may be tasked with assisting customers on the floor, completing sales as a cashier, or working behind the scenes with inventory, merchandising, and stocking- whatever needs doing to accommodate the holiday crowds. If this is the route you want to take, start with the big retailers (Target, WalMart, Kohl’s, etc.), but don’t be afraid to look at every store in your area and see if they have any â€Å"help wanted† notices popping up either in store or online.What you’ll need: A good retail resume, strong customer service skills to deal with every kind of customer imaginable, and time management skills. You may also be asked to work long or odd shifts throughout the holidays, so flexibility is key.Snow Removal Drivers/WorkersWe may still be firmly in autumn mode right now, but as the Starks tell us, winter is indeed coming. Many private snow removal companies and towns/cities are already looking ahead to the snowy season, hiring part-time and seasonal help to prepare for the winter’s storm s. This is less of an option if you live in, say, Florida, but if you live in an area that sees its share of snow and ice over the winter months, it can be a good option.What you’ll need: A valid driver’s license and the ability to handle heavy equipment like plows, sanding trucks, and sidewalk snow removal tools.Christmas Tree WorkersThe holiday season means Christmas tree sales, either at dedicated tree farms/garden centers, or big box stores that also sell trees (think Home Depot or Lowe’s). From Thanksgiving to Christmas, these employees help meet the influx of customers, selling and preparing trees for travel home, as well as selling and stocking other seasonal plants.What you’ll need: The ability to lift heavy objects, stand for long shifts, and work outdoors in varying conditions.Seasonal ActorsAnother classic seasonal job is playing Santa (if you’ve got the girth and the lap- beard is usually provided for you), or his entourage (think elves and Mrs. Claus). This job has been a mainstay of malls and department stores for decades and usually runs from Thanksgiving-ish through to Christmas. But Christmas actors aren’t the only ones who are needed on a seasonal basis- if you look early enough (say, September), there are also a lot of Halloween-themed jobs available, working in haunted houses or amusement parks as scary extras.What you’ll need: Acting skills, people skills, and customer service skills.Seasonal PhotographersAll the Santas and the elves come with a very important seasonal role: the photographer. Individual stores, malls, and events hire photographers every year to capture the holiday merriment for posterity. Seasonal photographers and assistants are responsible for taking photographs, taking orders, and potentially developing/editing photos as well.What you’ll need: Portrait photography skills, photo editing skills, organizational skills (after all, no one wants mistakenly sent pictures of some other family’s kid sitting on Santa’s lap), customer service skills, and problem solving skills, because camera snafus while there’s a long line of people waiting to see Santa can be problematic. It also can’t hurt if you have a knack for getting toddlers to smile at just the right time for a lasting photo.Election WorkersThis is one of the more unusual ones on the list, in that you may not think of it as a â€Å"seasonal† job. But the fact is that every November there’s some kind of election going on in your town or district, and staff is needed to manage the voting process, check in voters, and ensure that election laws and best practices are being followed. Many polling places rely on volunteers, but some towns and cities hire poll workers to manage the crowds and ensure smooth voting and accurate reporting.What you’ll need: Strong organizational skills, and a solid sense of civic duty.Warehouse WorkerBehind the retail scen es, there are thousands of warehouse workers needed to make sure that goods are getting where they need to go throughout the holiday season, whether that’s store shelves or customer orders shipped directly. Companies like Amazon in particular bulk up its warehouse staff during the holiday season, in anticipation of keeping operations running at peak volume around the clock. Other top employers in this area include shipping companies like FedEx or UPS, which keep packages moving at a high volume to accommodate tight shipping deadlines and incredibly high demand.What you’ll need: The stamina to work while standing for long periods of time, as well as the ability to lift heavy objects. These jobs may also involve the use of heavy equipment to move freight.Delivery DriverWarehouses aren’t the only logistics centers that need extra help during the holidays. Companies typically hire extra drivers for the season, to accommodate the higher volume of packages going in an d out.What you’ll need: A valid driver’s license (and possibly a Commercial Driver’s License as well), a clean driving record, and excellent navigation and time management skills.Customer Service AssociateCustomer service is another major area where companies need extra help during the holiday season (and slightly beyond, to accommodate post-holiday issues with gifts). These seasonal employees may work on site or remotely via phone or internet chat to answer questions, help customers troubleshoot issues, and escalate as necessary. Customer service can be a round-the-clock proposition, so you can likely expect overnight, weekend, or holiday shifts.What you’ll need: A solid customer service resume. You’ll need customer service skills first and foremost, as well as tech skills like handling multi-line phones, recordkeeping software, and internet chat programs. You’ll also need strong problem-solving skills, as much of your time may be spent hel ping to diagnose and resolve problems for customers.Tax AssociateNo one really likes to think about the looming tax season while in holiday mode, but after the new year has passed and life goes back to normal, seasonal tax associates are in high demand. Tax preparation companies hire temporary employees to accommodate the demand from January through April. If you have a background in financial math and familiarity with the U.S. tax system, this can be a good gig for you in the post-holiday season.What you’ll need: Strong math and accounting skills, a bachelor’s degree in a related field, and familiarity with tax preparation software.If you’re looking for a part-time seasonal gig, you have lots of opportunities to match your skill set, interests, and availability. The retail-facing jobs are perennial favorites for a reason (consistency, plenty of jobs available), but if retail isn’t your thing, there are lot of other options.

Cover Letter Tip from The Essay Expert What Color is Your Cover Letter

Cover Letter Tip from The Essay Expert What Color is Your Cover Letter The content of most cover letters that come across recruiters desks are bland and unexciting. They sound like everyone elses letters. I call them gray. And gray doesnt stand out. It just blends into the background. Get the hiring managers attention with this cover letter tip. Cover Letter Tip:  Add Some Color! Start with a Splash Even the first paragraph of your cover letter can make you stand out. Sure, you need to tell them what job youre applying for, and where you found out about it, but you dont have to end there. To get their attention, say something about what you understand about the companys needs, and why youre the person to meet those needs. Most people dont take the time to tailor cover letters, so any mention of specifics about the company youre applying to will distinguish you from your competitors. Time for a Paint Job The gray cover letters I tend to see include language like this: I believe my skills and qualifications are a perfect match for the available position. I have spent the last ten years gaining experience in X. At job A, I did B, where I gained experience in C. At job D, I did E, and gained experience doing F. At job G, I did H, and learned J. I therefore feel that I would be an asset to your company. I hope you agree with me that its time for a makeover! Painting Your Passion Stop blending into the background! Your cover letter is a valuable opportunity to paint yourself in bright, eye-catching descriptionsas someone who would bring personality and flair to a position, or true problem solving or negotiating skills, or, at the very least, some passion. How do you do that? Tell a story that shows them who you are. If I were writing a cover letter, for instance, I might talk about how I won the trust of a contract manager who had been ready to pull a contract from my organization. One of my clients wrote about how he successfully negotiated a conflict at work and obtained payment from a customer who was refusing to pay. Another wrote about his quest for the perfect problem to solve. These stories will catch an employers eye and paint a picture of a real person, with experience and attributes that reach beyond a list of resume bullets. Take My Advice! Id like to share with you the following letter, which I received from a student at the University of Wisconsin: I feel like a naive kid who was suddenly given a cover letter awakening. I took your advice and changed almost everything. I am ashamed to call the last documents I sent you cover letters. I wouldnt have wanted to interview me. Sad. In these new cover letters, every sentence gives information that cannot be gathered from my resume. I really tried to pour some personality and passion into these and keep the readers attention. I can actually be proud of these letters. This student says it well. Give them new information, NOT a regurgitation of your resume. Pour in some personality (purple?), passion (red?) Throw in some anecdotes (green?) And you too will be able to say you are proud of your cover letters. With this cover letter tip, youll be a lot more likely to get that interview, where you really get to show them who you are. Want help with your cover letters? Check out  The Essay Experts Resume and Cover Letter Services. 🙂 🙂 Log in to Reply Tracy Cooper says: February 1, 2018 at 12:42 pm Great advice. I absolutely love it. Talk about standing out in a sea of look-a-likes. I do some tailoring, but incorporating this into my Cover Letter Toolkit will bump things up exponentially. Thank you kindly. Love it! Log in to Reply

Pharmacological Management of Major Depression in Older Adults Using Essay

Pharmacological Management of Major Depression in Older Adults Using Selective Serotonin-Reuptakes Inhibitors - Essay Example They have minimal effect on noradrenalin and dopamine activity, compared to the tricyclics or MAOIs. Some of the drugs, like fluoxetine, have a mood elevating effect when used in healthy individuals. Fluoxetine drug has the longest half-life amongst all approved SSRIs with drug and side effects persisting up to six weeks after the termination of therapy. Introduction Serotonin is an important neurotransmitter, a local hormone in the gut, a component of the platelet clotting process, and is thought to play a role in migraine headache. Serotonin is also one of the mediators of the signs and symptoms of carcinoid syndrome, an usual manifestation of carcinoid tumor, a neoplasm of enterochromaffin cells. Patients with non-operable tumor, take serotonin antagonist for a useful treatment. The diagnosis of depression still rests primarily on the clinical interview. Major depressive disorder (MDD) is characterized by depressed mood most of the time for at least 2 weeks and/ or loss of interes t or pleasure in most activities. Additionally, depression is associated with sleep, as well as diet disturbances and deficits in cognition and energy. Thoughts of guild, worthlessness and suicide are common. Coronary artery disease, diabetes and stroke appear to be more common in depressed patients and depression may considerably worsen the prognosis for patients with a variety of comorbid medical conditions (Katzang, 2009; Rang, 2009; Kaushik, 2011). Reports by Centers for Disease Control and Prevention highlight the fact that antidepressant drugs were the most commonly prescribed medications in the USA. It is observed that American physicians have been increasingly inclined to use antidepressants to treat a host of conditions that patients have been increasingly receptive to their use. Major depression is commonly associated with a variety of medical conditions from chronic pain to coronary artery disease, panic disorder, generalized anxiety disorder (GAD), post traumatic stress disorder (PTSD), obsessive compulsive disorder (OCD) specifically in older individuals or other related old age diseases which enhances the burden of depressive thoughts and also affects the quality or life. All these reasons paved the way for growth in the use of antidepressants ( Katzang, 2009; Rang, 2009). Comparison of SSRIs with Tricyclic Antidepressants (TCAs) - The first line of antidepressant treatment suggested for elderly population involves SSRIs (Selective Serotonin Reuptake Inhibitors). There are weak facts for this suggestion as studies carried out highlight the comparative usefulness, protection, acceptability, as well as success of SSRIs and TCAs suggesting that there are a few optional returns of both these drugs over one another. Moreover, there is always a potential danger of falls which is prevalent in elderly patients, hyponatremia, loss of weight and sexual dysfunction, as well as drug-drug interactions. Therefore, SSRIs and TCAs must be prescribed by physician s for elderly patients considering frequency and severity of depression (Herrmann, 2000). Pathophysiology of Major Depression Observations reveal that there is a tremendous shift that has been witnessed for understanding the pathophysiology of major depression. Initially, the amount of monoamines was considered to be the central to the biology of depression. Evidence suggests that neurotrophic and endocrine factors