Benjamin Banneker :: History

Benjamin Banneker Benjamin Banneker was a space expert, researcher, mathematician, assessor, clock-producer, creator, and social pundit. Generally eminent about his achievements was that regardless of racial requirements and minimal proper training, he was a self-educated man. Before an amazing finish, his accomplishments were notable around the globe. In contrast to numerous blacks of his time, Banneker was not naturally introduced to subjection. The maternal side of his family decided this destiny. His grandma Mary Walsh was a white Englishwoman who was condemned to seven years of bondage for taking milk. She was sent from England to America to fill in as a contractually bound slave. After she completed her sentence, she got some land and two African slaves. She wedded one of them, named Bannaky, and they had numerous kids, one of whom was named Mary. Like her mom, when Mary wedded, she purchased a slave and wedded him. Mary and Robert had a few youngsters, including Banneker. Banneker was conceived in 1731 only outside of Baltimore, Maryland. Banneker's instruction started in the early long stretches of his youth. Banneker and his kin were educated to peruse by their grandma Molly, who utilized the Bible as an exercise book. When Banneker was twelve, a Quaker named Peter Heinrich moved close to the Banneker ranch and set up a school for young men, which Banneker joined in. He exceeded expectations in science and even advanced past the capacity of his instructor. At the age of twenty-one, his capacities were at long last used. He met a man named Josef Levi who indicated him a pocket watch. Banneker was entranced to such an extent that Levi gave him the watch. He concentrated how it functioned, drew an image of it, and made numerical counts for the parts. He chipped away at building the clock for a long time. In 1753, it was finished. It was made of wood and he had cut the riggings by hand. This was the main check worked in the United States. For over forty years, the clock struck each hour. Notwithstanding making America's first clock, Banneker had an enthusiasm for stargazing. At the point when Banneker's companion Andrew Ellicott passed on, he left him books on space science, logical instruments, and a telescope. Banneker started to examine cosmology and made scientific figurings of the stars and heavenly bodies. He utilized these counts to accurately foresee a sunlight based obscuration that occurred on April 14, 1789. His capacities in stargazing and arithmetic drove him to make a chronicle in 1792.

6 Smart Tips to See Your House the Way It Used to Look

6 Smart Tips to See Your House the Way It Used to Look Before old house rebuilding even starts, set aside time and cash with a little examination. Ever wonder what your home used to resemble before current upgrades? Was there consistently a divider there? How could your Victorian home have such an advanced kitchen? What is that outside siding covering where the windows used to be?â Throughout the years, your home may have seen numerous remodelings. The bigger and more established your house is, the more open doors the past proprietors had for rolling out significant improvements. Most mortgage holders like to leave their imprint on property for the sake of solace and redesigns - everybody needs upgrades. For whatever reasons, each next proprietor for the most part has various needs. Like home possession itself, redesigning is a piece of the American Dream for some peopleâ and the open doors for re-obfuscating increment as the age and area of the house increment. Numerous individuals need to reestablish a home to its unique excellence, yet how would you do that? Finding out about the most punctual structure of your home can take numerous months. On the off chance that you have no plans, youll need time to do some genuine analyst work. These convenient tips will assist you with finding the beginnings of your old house, inside and outside. Tips to Discover Your Real Home 1. Start with age. Mortgage holders think they are purchasing their own homes as close to home property, however any land owner is truly becoming tied up with an area of history. How old is your home? How old is the area? With a deed, the appropriate response might be direct. Starting with this data offers setting to your home. 2. Your home is presumably not extraordinary. All engineering, including the normal home, recounts to the narrative of time and spot. Building and configuration are exercises throughout the entire existence of populaces. Put your home in setting with how your nation was populated. Where do individuals live in the United States? Think about this essential inquiry: Why was your home worked by any means? What was the requirement for cover right now and at this spot? What structural style ruled the district at that point? On the off chance that your house is in a line of houses, remain back over the road and gaze upward - does your home look somewhat like the house nearby? Manufacturers all the time fabricated a few houses straight, productively utilizing the equivalent passed on plans. 3. Find out about the historical backdrop of your locale. Ask your nearby student of history orâ ask a reference administrator where to glance in your neighborhood open library. Does your town or city have an architecturally significant area with a memorable commission? Anybody intrigued by houses, including realtors, frequently know a lot about neighborhood manufacturers and lodging styles. Visit your neighbors and various neighborhoods. Their homes may reflect yours. Make maps of where houses were worked corresponding to neighborhood organizations, including ranches. Was your home piece of a homestead whose land was separated? What significant enterprises were close by that may have influenced fast populace development? 4. Discover floor plans for your old house. Recollect that your old house may never have had outlines. In the mid 1900s and previously, developers once in a while drew up point by point particulars. The whole procedure of building was passed on from age to age. In the U.S., engineering didnt become a calling until the nineteenth century and construction laws and guidelines were uncommon until the twentieth century. All things considered, inquire about before reclamation could at last spare a great deal of time. 5. Look under the carpet. Recall the idea of concealing something under the floor covering or hiding privileged insights away from plain view? Its great to recall that a lot of your homes history is in that spot before you with next to no exertion - on the off chance that you realize where to look. Except if redesigning was finished by an ace skilled worker, proof is deserted. Pull up some baseboard or embellishment to see the completed (or incomplete) flooring edges or divider statures. Measure the thickness of the dividers and attempt to decide whether they were based upon one another. Go into the storm cellar and take a gander at the under-ground surface to check whether its been fixed when another focal warming framework was introduced. Where is the pipes - is it across the board zone, in an option when a restroom and kitchen were included? Numerous complex more established homes began as straightforward structures and were added to throughout the years. The engineering of a hous e can advance after some time. 6. Characterize your task. What are your task objectives? Comprehending what you need at long last will assist you with finding a way to arrive. Note that huge numbers of the words we use to portray the moves we make on a structure start with the prefix re-which implies again. So, here we go once more. Which Method Is Right for You? Renovating: This regularly utilized word depicts a procedure of making changes to a house with little respect to the historical backdrop of the home and its environs. The model picked is at the impulse of the present property holder. Before you rebuild your home, set up an agenda for your redesigning dreams. Redesign: Novus implies new, so when we revamp we need to make our home like new. This term is commonly used to fix a home in deterioration. Restoration: Often truncated as recovery, restoration is to reestablish or fix-up a property while keeping its compositional worth. As per U.S. Secretary of the Interior norms and rules, you can do this through fix, adjustments, and increases while protecting those parts or highlights which pass on its verifiable, social, or building esteems. Reclamation: Coming from the Latin wordâ restauratio, rebuilding takes the engineering back to a specific timespan. The Secretary of the Interiors working definition incorporates words like precisely delineating the structure, highlights, and character of a property as it showed up at a specific timeframe. Strategies remember the expulsion of highlights from different periods for its history and recreation of missing highlights from the reclamation time frame. Does this mean you tear out the kitchen sink and assemble another toilet? No. Indeed, even the government says its alright to keep code-required work. Source Safeguarding Terminology, Secretary of the Interiors Standards and Guidelines As Amended and Annotated, https://www.nps.gov/history/neighborhood law/arch_stnds_10.htm

The Nature of Sacrifice in the History and Ideology of Gush Emunim :: Israel Middle East Political Essays

The Nature of Sacrifice In The History And Ideology Of The Gush Emunim There can be no contention that by living in little settlements in the threatening and unstable West Bank and Gaza Strip, Gush Emunim pioneers are making a type of penance. Encircled no uncertainty by threatening Palestinians who feel that the Israelis are involving their home, strict pilgrims face the potential for savagery and demise regularly. In what is turning into a progressively unsafe situation in Israel with every self destruction bombarding, shooting binge, or IDF invasion into the Palestinian regions and evacuee camps, maybe nobody on the Israeli side faces as steady a danger of threat than the Gush Emunim. This paper will endeavor to look at the very idea of penance that the Gush Emunim are engaged with, just as the scriptural defense for this penance. I likewise mean to investigate the scriptural avocation the Gush Emunim may use to help their eagerness to fall back on viciousness against the Palestinians in shielding this penance. Their mentality towards their unfriendly neighbors is a similar demeanor their progenitors held about the Canaanites: â€Å"you must be removed, regardless of whether calmly or viciously, in light of the fact that this is our territory as per God.† In the history and philosophy of the Gush Emunim, instances of both Nancy Jay’s fellowship penance just as Hubert and Mauss’s legally binding penance are bounty. The hallowed viciousness as a social establishment about which Gil Bailie composes can likewise be found. Moreover, Girard’s mimetic want is clear in the opposition among Jews and Muslims over the consecrated space that is Jer usalem. The historical backdrop of the Gush Emunim is an exceptionally mind boggling one, yet it very well may be considerably more plainly comprehended when its conciliatory frameworks and affinity for savagery are clarified utilizing a portion of the writers whom we have perused in class. Settlement in a threatening domain is the conciliatory hazard they take. They have involved the spot of a conciliatory casualty. The Palestinians speak to the danger to their Messianic reason. Foundation The Gush Emunim are not, as opposed to common misconception, an ideological group in Israel. While through the span of their reality they have increased a lot of political impact, they didn't frame to pick up seats in the Knesset and change residential or universal arrangement. This all came later.

Lost in Translation

My family is Chinese. Anyone can tell by our straight black hair, brown eyes that minimize when we smile, and my parents' insistence that their kids grow up to be prodigies and/or doctors. Also, we buy out the entire rice section if rice is ever on sale. We are not out of the ordinary. Right now, the TV is tuned to the local news channel, and we are talking about how to sound more American. My sister and I have no problem with this, having been surrounded by English speakers for years. Mom doesn't have a big problem with English because she attended a British school in Hong Kong. Dad is the exception. Raised in rural China until he went to college in Canada, he picked up English from friends and teachers. Regardless, he is sure that he is more American than us. The conversation turns to future vacation plans, but he's clearly still thinking about the previous topic. Dad: â€Å"Do you know how close is Connecticut and Boston?† â€Å"You mean, Do you know how close Connect icut and Boston are in relation to each other?† I correct him. â€Å"Very far apart?† â€Å"No! From Connecticut to Boston you could throw stones.† â€Å"You mean a stone's throw. Connecticut is a stone's throw from Boston.† â€Å"Yes, throwing stones. So after we visit Yale in Connecticut we'll go to Canada.† â€Å"Wait, what about the other colleges on the East Coast? Like NYU.† â€Å"No! You have to go to an Ivy League. If you graduate from Yale, every other university will accept you with two arms!† â€Å"Open arms.† â€Å"Yes, both of the arms. Go to an Ivy League.† â€Å"Okay, Dad.† â€Å"Then we will go to New York and New Jersey.† â€Å"Why didn't we live on the East Coast? Then we wouldn't have to worry so much about this trip. Heck, why didn't we live in Canada? Then I wouldn't worry so much about Harvard.† â€Å"Well, there's no use crying while spilling milk.† â€Å"W ait, what?† â€Å"So what my plan is that I plan that we visit New York, New Jersey, go to Canada and see McGill, UT, McMaster, Queens, maybe Waterloo.† â€Å"What about Washington, D.C.? Aren't we going there?† â€Å"Shh! Hold my horse, I'm not finished telling about my plan yet!† â€Å"Dad, it's †¦ well, go on.† â€Å"And then we'll come southwards and through Niagara Falls.† â€Å"Through the Falls? Wait, can I ride a barrel down the waterfall this time?† â€Å"You really want to do that? No, you must be, you know, trying to pushing at my leg.† â€Å"Pulling my leg, Dad.† â€Å"Who is?† â€Å"All right, so after Niagara Falls?† â€Å"We can visit Auntie May and Uncle Gary while we're helping Jensen look at colleges in Canada, so Mom is happy and you can be happy too.† â€Å"Convenient.† â€Å"Yes, like killing two birds with one hand.† â€Å"Dad, one stone. You kil l two birds with one stone.† â€Å"Why use a stone? I have strong hands.† â€Å"Never mind.†

Using Natural Gas and Liquid Natural Gas - 706 Words

Introduction For decades the United States of America has been relying on fossil fuels to power its economy and to function as a country. One namely Diesel fuel has power big rigs that our country depends on to transport merchandise and goods. It seems like it is part of the American way of life burning more than 1 billion dollars’ worth of oil per day. An estimated 10 percent of that is consumed by big rig trucks. The United States military also used diesel for a majority of its craft and vehicles. That is a large amount of oil and that is why there is research being done looking for alternative options to keep the country going. The topics at hand are natural gas and liquid natural gas. Details and science of natural gas It goes without saying that there are many skeptics that argue liquid natural gas deposits create just as much emissions as coal and oil. The main thing in natural gas is methane which is much more potent than carbon dioxide. Natural gas comes from dense rock clusters known as shale. Energy drilling is really quite simple. It starts out with deposits of natural gas found deep in the ground. Scientists find these deposits using various methods like looking for seismic energy and magnetic traces. Once a probable deposited is found the drilling or energy company drills deep into the earth’s crust to reach it. The next part is hard because after the hole is drilled the gas will not simply flow out of the hole. The natural gas is in the shaleShow MoreRelatedThe Natural Gas Vehicle ( Ngv )1723 Words   |  7 Pagessale. During the oil crisis of nineteen seventy-three, many countries built liquid recovery plants when they realized LPG is a significant product. The expansion within the middle east of LPG production expanded tremendously between nineteen seventy-five and nineteen eighty-five topping out at thirty million tons by nineteen eighty-five. By nineteen eighty, exportation of LPG went worldwide (History of LPG). The natural gas vehicle (NGV) has been inconsistent throughout history. With our environmentalRead MoreLpg And Natural Gas : Lpg1391 Words   |  6 PagesLPG and Natural Gas, they are the same, but they are different in many ways. LPG and Natural Gas are broadly accessible and consumed in numerous products. There are two core distinctions in the way that natural gas (Methane) and LPG (Propane) are expended. CNG (Compressed Natural Gas) is a readily substitution of petrol that is made by compressing natural gas (Hahn). CNG is odorless, colorless and tasteless, comprising mainly of methane. In addition, CNG is yielded from drilling natural gas wells orRead MoreThe Natural Gas Vehicle ( Ngv )1723 Words   |  7 Pagessale. During the oil crisis of nineteen seventy-three, many countries built liquid recovery plants when they realized LPG is a significant product. The expansion within the middle east of LPG production expanded tremendously between nineteen seventy-five and nineteen eig hty-five topping out at thirty million tons by nineteen eighty-five. By nineteen eighty, exportation of LPG went worldwide (History of LPG). The natural gas vehicle (NGV) has been inconsistent throughout history. With our environmentalRead MoreEnergy Of Nuclear And Chemical Fuel1605 Words   |  7 Pagessolid fuels Liquid fuels: Mechanically energy can be generated by harnessing liquid fuels which are combustible; they also take the shape of their container and are fluidic in nature. instead of the fluid only the fumes of liquid fuels are flammable. Most liquid fuels which are widely used are derived from fossil fuels. However, there are several types of non-conventional fuels such as hydrogen fuel, ethanol, and biodiesel, which are also categorized as a liquid fuel. 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Transportation of natural gas remainsRead MoreIncreasing Oil Production in the United States of America1306 Words   |  6 Pagesoil is a major source of energy for the world. Everyday the United States consumes more crude oil than it produces. The growing number of barrels of oil imported into the Unites States and rising gas prices are major concerns. Even though increasing the United States crude oil production may not lower gas prices immediately, it will eventually allow the United States to be energy independent. Oil is used in many different ways besides gasoline. Many types of products worldwide consume oil. Plastics

Textual Analysis Credit Risk Management Practices

As to the techniques chosen for this research, textual analysis is employed and a comparison method is also adopted. It is believed that these methods are suitable for the research because through analyzing the relative bank performance reports, access to all the available information needed in the research can be gained and assessment can be made, which provides both a separate evaluation and generalization on the sample banks’ credit risk management practices. Those outcomes will be the findings about the second research question and the basis of the rest of questions. While comparisons, as already implied in the research questions, are obviously necessary means for answering the last three research questions, from which the possible†¦show more content†¦Those listed retail banks dominate the sterling-denominated banking business and are the focuses of this research and will all be included in the quantitative research part. While by reading through the relative inf ormation about their credit risk management approaches, it is found that some of the banks don’t differ much in the practices and can present a whole picture on the standard practices, which indicates the possibility and reasonableness of conducting the qualitative research only on part of the MBBG members. Regarding this, two groups of samples are chosen for the qualitative research. By using average total assets of the nine banks as the grouping criteria, RBS and Barclays, which have higher than average total assets, have been put into Group One (larger banks) while Bradford Bingley and Northern Rock with lower than average total assets are selected as Group Two (smaller banks).1 Judging from the amount of their total assets, it is confirmed that the two groups have presented a relatively large gap in size. 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Types of Data: Textual Data Physical Data Audio/ Visual Data Numeric Data Textual Data: Or text can contain any combination of letters, and special characters. Sometimes textual data is known as alphanumeric data. Two types of textual data Character: Consists of a single character * Strings: Consists of more than one character. Physical Data: Read MoreVolvo Geely12051 Words   |  49 PagesAPPLIED SCIENCES Savonia Business China’s Foreign Investment Analysis Case Study of Geely Acquired Volvo Zhang Huihui Business Administration Bachelor’s Thesis Degree Programme International Business April 2012 SAVONIA UNIVERSITY OF APPLIED SCIENCES SAVONIA BUSINESS Degree Programme, option Degree Programme in International Business Author(s) Zhang Huihui Title of study China’s Foreign Direct Investment Analysis Case Study of Geely’s acquisition of Volvo Car Type of project

What is an American free essay sample

American. What is a American? Who is an American? These questions raise some of the most biased answers depending on who you ask. Some will say that an American is a fat, lazy, pig who is selfish, and stupid. Others will say that an American is a strong, hard working, upstanding, and prideful person who looks for the American Dream. So which is true? I think that both are true to an extent. I believe that an American is a proud, prideful, person but should they be? Do Americans go for the American dream anymore or is that now in the past? Can they even have a chance now? The American definition has changed significantly over two hundred years but has the American spirit? If you asked an American on the street, â€Å"What is an American†, what would they say? I shall explore what was an American and what changed over the years. We will write a custom essay sample on What is an American? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Then what is an American today? Has the American spirit changed for the best or has it rather slumped down into a disgraceful form? To define what an American is, you must see what Americans were like in the past. So what was an American two hundred years ago and what did they endure to become an American? â€Å"Ubi panis ibi patria.† This phrase written by De Crevecoeur in 1782 means, â€Å"Where my bread is earned is my country†, in Latin. This quote was the motto for immigrants at the time that moved to America in hopes of a better life. Immigrants moved to America for many reasons: freedom of liberties and belongings, freedom from religious persecution, or to escape famine, and death that awaited in their countries. However this phrase means that immigrants should consider a country to be theirs if hard work gets you bread(money/goods). In many countries at the time people were having trouble surviving. In countries like France, and Poland, work was extremely hard and barely paid anything at all. So people from those countries went to the land of opportunity, America. They wished for the American dream, and they built this country up because of it. You see without immigrants like De Crevecoeur, America would not be, nearly as successful as it is today. It does make you think however, are immigrants even immigrants? Afterall this is a country formed of immigrants, and the people of this country consider this to be their own country. If you ask somebody who moved here from China or Brazil where their country is, wouldnt they say that America is their country? In the past though there has been horrible discrimination against immigrants. The Chinese Exclusion Act in 1882 is one example as it did not allow the Chinese to move to America. Then there has even been worse discrimination against the people that originally lived here. The massacre of Wounded Knee is just one of the many massacres committed against American Indians. So if America lets immigrants in freely but tries to get rid of the natives, and after that we almost destroyed their culture through assimilation. So, what was an American back then? An American back then was an immigrant who wanted, like the people who founded America freedom, freedom of Religion, and justice for all. Though some could argue that has changed over the years. Less than one hundred years ago, people could start to say that the American dream was â€Å"changing.† â€Å"Americans look to more than the next meal; they look to the future, the long term, a better tomorrow†, this quote by Edward L Hudgins, written fifteen years ago, embodied what America was in the late 20th century. America after WWII was an economic machine that had no remnants of the Great Depression that struck in the 1930s. Industry was booming, people had jobs, and the world economy(with the exception of Germany and France) was soaring. People were embracing the American Dream that was so hard to reach in the Great Depression more than ever before; it was a Golden Age in America. Suburbia in America was expanding at unseen rates, as it was a great time. This quote emulates the change that was happened in the late 1900s, which was the beginning of the era of the middle class and suburbia. Its also very intertwined and maybe to an extent factually based on the quote by de Crevecoeur as the two are very similar because the â€Å"bread† of this country is the â€Å"next meal.† The Golden Age of America, however, might have sown the seeds of future economic hardship. With what? It was the thing the American Dream might have been based on when it came to industry. Greed. â€Å"Greed, for lack of a better word, is good. Greed is right. Greed works. Greed clarifies, cuts through, and captures, the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge, has marked the upward surge of mankind and greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the U.S.A.† This rather chilling quote performed by Michael Douglas from the movie Wall Street, shows how people start to think after they enjoy to much â€Å"decadence† in the American dream. He also thinks that this greed will save the US and Teldar paper, a comp any in the movie, which in the movie and in real life did the opposite with Tedlar paper going bankrupt. This leads up to the more important part of the question, â€Å"What is an American†; what is today’s definition. So what are American’s today? â€Å"It is as much your country as it is my country†, is quote by Red Skelton in 1969 during his word by word analysis of the pledge of allegiance. This quote unlike all the other quotes, this quote is more versatile, and what I mean by that is the quote could be taken, and can be meant towards different people. A lot of people will look at this and think about the immigrants, and while this is true I view Red Skelton’s quote in a different light. I view his quote to view wealth inequality in America. It is now an undeniable fact that ninety nine percent of America’s wealth is controlled by one percent of American people. Sure all people in America have the same rights and liberties, but same the opportunities? It is a sad fact that people and poverty tend to stay in poverty and are not able to pursue the American dream because they either don’t have the chance or the education. Not only that, but the middle class; li ke an eroding cliff, is falling into the poverty line. The Great Recession in 2008 did not help either So with all these weights on the American Dream it begs the question, â€Å"Is the American Dream even possible anymore.† I personally believe that it is still possible, though significantly harder. So hard that some American’s have just given up. So an American is a person who has pride for their country and pursues the American Dream but that pride no longer has a place as we have slipped past the point of being looked up to in my opinion. Americans were first immigrants, wanting to come here for the chance of a better life, or better known as the American dream. After the first century of this country’s existence, and WWII, America entered a golden age where decadence and the â€Å"overdoing† of the American Dream sew the seeds of economic catastrophe. In recent years Americans still try to pursue the American Dream and sometimes succeed, but most are unable to deal with the burdens on their shoulders already. So what does the future hold as America’s economy recovers and people’s hope in the government returns? Does this mean that Americans will start to achieve the American Dream even more? Possibly giving into the decadence or wealth once more? Will America take years to recover? Who is to sa y, all I know is the American spirit is still adaptable, even after all of these years and we shall make it. What Is An American free essay sample For fifteen of the past seventeen years, I have lived in the tiny town of Hopedale. Five thousand people, mostly children and the elderly, call this 5.4-square-mile town home. Once a radical utopian community visited by such greats as Ralph Waldo Emerson and Frederick Douglas, Hopedale has now faded into obscurity. It could be described as a bedroom community: its big main street businesses include Hopedale House of Pizza and Jennys, a new coffee shop. And in this quiet community, more than ninety-five percent of the residents are white, Christian, and middle class. As a young child, I naively believed that every American is like the people of my hometown. However, as I grew older and realized how wrong I was, I learned to question whether any stereotype of a typical American is valid. During elementary school, my afternoons where spent at daycare where I met a friend who surprised me by unknowingly confronting my naivete. We will write a custom essay sample on What Is An American? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Unlike the dozens of other children I had played with, she had beautiful dark chocolate-brown skin and black hair done in braids. She did not fit into my worlds neatly organized garden of white tulip people, and suddenly I wondered if my garden was as colorful as it should have been. A few years later, when I was nine years old, I was invited to a birthday party for a new friend, and I was amazed to see the differences between my six-room home, which I assumed to be a universal model, and hers. The party took place in a huge family room filled with lavish comforts such as wall-to-wall carpeting, draftless new windows, and a computer. Though it seemed like a palace, in retrospect I realize that my friends eight-room house was not unusual for a middle class family. My surprise at seeing both her mother and father cheerfully organizing amusing party games and slicing colorfully iced birthday cake has also diminished. But, the experience proved to me that even within a single small town, there are differences in wealth and way-of-life. By the time I entered high school, I experienced many new situations and met many new people. I learned the differences between people are so vast that the minor ones between my life and my childhood friends are insignificant in comparison. Events in my own life easily disproved my early stereotype of the typical American. Now I question whether a typical American exists and, if one does, who that person may be. Though people in this country may be vastly different from each other in many ways, I wonder whether there are common threads that tie the millions of Americans together, uniting our country. Maybe the simple fact that we all live in the same country, learn the same history, and pay taxes to the same Internal Revenue Service is enough to make all of us typical Americans. Perhaps, though, something greater than that links us: our belief in the ideals of freedom and democracy, or our common heritage as immigrants and children of immigrants might be better characteristics to bring us together than our physical, social, or economic characteristics. The more I encounter different types of people and different ways of life, the more I am unsure about what an American really is. What is an American free essay sample What is the American Dream? That has been the question for the past few years and each year the definition changes, but also the American Dream is different to everyone. To some people the American Dream is about money or it’s about family. Some people might even say it’s about being better than their neighbor. The American Dream to me is about being fair/ equal to everyone that lives in America. Certain people get treated unfairly based on colored, sexualitiy, gender, and even how they are ranked in class. What makes a person different from you and me get treated so unfairly? Alot of Americans are racist, sexstist, ect., but that isn’t what the American Dream is about. It’s about treating our neighbors the same as we treat our family. Equal. No one is better than the next, especially based on color, class, gender and sexuality. That is what Red Skelton is saying, that people from different places, and ethnicities should all have equal right to justice. We will write a custom essay sample on What is an American? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page De Crevecoeur is saying that if you work hard enough you can change the world but the only way to do so if people given opportunities. Equality should be something that everyone should get not something that some people get and others don’t. â€Å"and justice- the principle or qualities of dealing fairly with others.† Red Skelton was defining the Pledge of Allegiance by paying special attention to the word choice. When he says â€Å" and justice- the principle or qualities of dealing fairly with others.† he means that everyone deserves equal rights, and every person who lives in America should be treated fairly not just people have more power then the next.He also was saying that justice is something that everyone in America deserves that is why we have trials and no one is found guilty until proven guilty. What I think Red Skelton was saying is that justice is about being fair to everyone who is involved in the problem. What I also think Red Skelton is saying is that justice should be fair to people because America isnt fair when it comes to the justice system. The justice system isnt always f air because some people who work in the system can be racist and judgemental towards certain people even if they haven’t done anything illegal. This act of the justice system is unfair that its to the point where it can take away people’s freedom. Some people get accused of something that they didn’t do and they pay the consequences of someone else fault, which takes away that person’s freedom. In To Kill A Mockingbird is an example that the justice system is unfair because Tom Robinson was accused of raping Mayella Violet Ewell because he was a black man and Mayella is a white woman. Tom got wrongly accused because Mayella’s father Robert Bob Ewell caught his daughter kissing Tom, which isnt allowed back then because of Tom’s skin color.People believed that Tom raped Mayella because she had bruises all over her body from her father. This relates back to the the quote because this shows that the justice system isnt fair by how they just jump ed to conclusion about Tom raping Mayella just because he is black. This also shows that justice should be fair to everyone it doesnt matter if youre a man, woman, black, white, or whatever. In America everyone deserves a chance at a trial to be proven guilty or not, people shouldnt just accused someone because someone else says that person did it or not. America is advertised like opportunities are just given free to everybody, but they are not. Opportunities are actually rarely given. â€Å"whose labors and prosperity will one day cause great change in the world.† De Crevecoeur was describing that any American who works hard enough and doesnt give up can change the world one day. De Crevecoeur was saying that if you work hard enough and try your hardest you can achieve something great, and when you don’t give up even if it gets hard you can achieve great things. In Europe they didnt have many opportunities given to them. People who worked on farms had to give away their food to the lords, so they couldn’t expand their talents, and they couldn’t provide for their families.De Crevecoeur didn’t have any opportunities in Europe and in America, people believe that people get opportunitites all the time which isn’t true. What I think De Crevecoeur is saying is that if people gave more opportuniti es to each other, people could work hard and if they work hard enough we could change the world. I think that not enough opportunities are given to people, especially to certain people. Someone could not give someone a job because of who they are, even though it is against the law it still happens. I also think that people don’t always take an opportunity when they see it. John D. Rockefeller took an opportunity into his own hands which changed his life. Rockefeller, as a child, and his family struggled to put food on the table. and grew up with not that much. When John became old enough him and his brother became partners in Rockefeller, Andrews Flagler. They monopolized oil by making kerosene for lanterns. John D. Rockefeller took an opportunity into his own hands and changed his life himself. He didn’t wait till someone gave the opportunity to him, he saw the opportunity and took it. He came from nothing and ended up changing the world. even if he didn’t kno w how big his company would get. This shows that if people gave opportunities and people took advantage of them, then people who do work hard could change the world in someway. The American Dream to me is about equality. Everyone is America, even if they are not from here, deserves to be treated how we treat the people we love. I don’t understand how someone can treat another human being so badly just because they are different. Isnt that what America is also about, being different? Being our own person? That is what Red Skeleton and De Crevecoeur are saying in their quotes about equality. Red Skeleton explains that justice should be equal to everybody no matter what the situation is, but the justice system isn’t like that. De Crevecoeur says people who work hard will change the world unfortunately not enough opportunities are given to people to change the world. America is still trying to accept everyone for who they are. People get judged every day for something about them like how they dress, talk, act, etc. If people just accepted people for who they are even if you don’t agree with them, it could be a better place. Treat someone like how you would want someone to treat you. What Is an American free essay sample The foundations of American values and traditions began during the Puritan movement. The Puritans determination and unity still echoes in American culture today. Furthermore, Benjamin Franklins thirteen principles of success shows the American principles of self-reliance and Independence. In addition, Franklin also Illustrates the American Dream. Franklins set of virtues that are paralleled today by a multitude of people. For instance, Francisco Jim ©NZ, who grew in poverty, rose from the pure poverty of migrant workers. Like Benjamin Franklin, teachers also strive to share their knowledge with others.It is vital to appreciate the similarities between the Puritans. Benjamin Franklin, Francisco Jim ©NZ, and teachers so that the American nation can carry on modeling unity and determination and delivering virtues such as hope and altruism for others to come. Above all. The Puritan civilization Is one of the basic foundations of American culture. Because of their unity and hardworking ethics, they built the basis of the average American today. We will write a custom essay sample on What Is an American? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Like most Americans, the Puritans came from Europe to escape religious persecution. They found solace in America and created a civilization where everyone Is equal.By mulling together, the Puritans found they could form a society that would thrive in the worst of situations. As Leland Risen states, in Worldly Saints: some of the ethics that the Puritans used and lived by are positive elements In society today. Puritans, such as Anne Broadsheet, portrayed how simplistic Puritan life was. In her most famous poem, upon the Burning of Our House, Broadsheet expressed her feelings towards God and material possessions. The Puritan woman described the moment her house set on fire. l blest his Name that gave and took, / That lady my goods now in the dust: [Yea so it was, and so twats Just. It was his own: It was not mine; Far be It that I should repine. It Is clear Broadsheet feels material possessions are not of Importance. Moreover, Puritans should be credited for their hard work, patience, thriftiness, and organization. They never opposed education, in fact; they looked up to educated people. Learned was one of their most frequently used positive titles for an educated person. If It werent for the Puritans the American people of this century would not have the opportunity to attend Harvard university. Indeed, the Puritan movement has influenced modern America.In addition to the Puritan movement, Benjamin Franklin can be looked to as the OFF dying out. He, like many Americans today, was poorly educated. Surprisingly, he was self-taught. Like America itself, Franklin couldnt be described with one or two words. He was a scientist, inventor, philosopher, and diplomat. He contributed to America by inventing bifocals, the lighting rod, the first library, and the Franklin stove; the list is endless. He never stopped working, or progressing. He created a yearly almanac; Poor Richards Almanac. The almanac contained weather reports, a calendar, poems, and sayings.He did not accomplish so much for himself; this selfless man created all those useful inventions for everyone. Furthermore, in Franklins autobiography he describes thirteen virtues which helped him succeed in life. Qualities such as, tranquility, temperance, order, and industry can be used in this era by Americans. Similar to a variety of Americans, Franklin shows the determination to succeed. In addition to laying the virtues to succeed, Franklin also exemplified the idea of the independent self-made man. This reflects American people today. The poorest person an America can achieve wonders by hard work and diligence.Overall, Benjamin Franklin truly defines what an American is by his hard work and dedication to the American people. Just as Benjamin Franklin reflects American people today by his selflessness, hard work, and diligence, Francisco Jim ©NZ echoes America by his determination and hope. Similar to the Puritans, Jim ©NZ immigrated to America with his family from Tattletales, Mexico. Like the Puritans, his family sought out opportunity and freedom in the land of liberty. As a child he worked in the fields of California. He spent most of his childhood moving around California; having no permanent home.In his best-selling book, Breaking Through, Jim ©NZ writes about life from an illegal immigrants perspective. At age fourteen he, his older brother and mother are caught by immigration police. They are forced to leave their home, and travel all night to arrive at the Mexico-USA border. In Arizona, he, his mother and father, and his seven brothers and sisters fought against the devastating poverty; also worked for drawn- out hours of labor, and obvious procurement. Oddly enough, Jim ©NZ pulled through with hope and determination, and went on to have an illustrious academic career. Graduating from Santa Clara University, he went on to study at Harvard University receiving both a Masters Degree and PhD from Columbia University. He became chairman of the Modern Languages and Literatures Department at Santa Clara University, also as director of the Division of Arts and Humanities. Furthermore, Jimenez shared his many works with the entire world hoping to make an impact. Surely Francisco Jim ©NZ echoes many Americans in history and Americans today because of his determination and hope. While Francisco Jim ©NZ represents hope and determination, American teachers represent the altruism and generosity of America.In the dictionary, a teacher is simply defined as an educator; someone who merely educates others. An American teacher is more than an educator; they are potters shaping Americas future. The young Americans today are influenced by the people who teach them. Instead of choosing a different career for themselves, many decide to teach for the sake of others. Like Benjamin Franklin, teachers have no desire of keeping their knowledge to themselves. Their only wish is to share it with others to benefit, not only themselves his career to advance the education system of the United States.He shows he is leafless and only wants to improve America. Surely, American teachers are a symbol of America because of their altruism and generosity. All in all, America is defined by more than one word or object. It is of extreme importance to recognize the resemblances of the Puritan movement, Benjamin Franklin, Francisco Jimenez, and all American teachers so that American society can continue to model unity and determination, and delivering virtues such as hope and altruism for others to come. It is apparent that many Puritans, such as Anne Broadsheet, showed hardworking ethics and unity still echo in modern America.Benjamin Franklin also reflects Americans today because of his hard work and selflessness. Like Benjamin Franklin, Francisco Jimenez shows the undying hope and determination of a true American. Just like Franklins bigheartedness, teachers also parallel altruism and generosity in American culture today. Overall, America will never be defined with one or two words. America is put together like a puzzle. Each piece containing a unique spectrum of color, but all the pieces fit together perfectly and all of those pieces, no matter how small, have a part in creating what an American is.

US Politics And Foreign Policy Essays - Politics Of Quebec

US Politics and Foreign Policy Letter to the editor, Re: American Reluctance After decades of so called healthy, democratically provoked American military intervention in Central America, why is it the U.S. is reluctant to invade Haiti and restore the popular, and of course, democratically elected president, Jean-Bertrand Aristide? What is Mr. Aristide? Basically, he is a social democrat, who has seen and is dedicated to helping the poor. He was attempting to improve the lives of the indigent Haitians through some redistribution of wealth and land reform, which are initiatives abhorred by all previous, and maybe following, U.S. administrations. What of George Bush? You could say that these are totally incompatible with the so called "new world order" planned out by Mr. Bush. With some other Central American countries in mind, we should be looking out for the intervention of the American CIA, which could show yet another example of American intervention to topple elected governments which do not fit to their standards or liking. Letter to the Editor, Re: How would Quebec's separation affect us? Watching the crumbling situation in Quebec, (almost crumbling literally, due to Olympic Stadium, the billion dollar fizzle) it is interesting to think what would happen if they did separate? Would Canadians be in too bad a mood to negotiate with Quebec if they separated? Question is, would they negotiate at all? If Quebec did separate, the border ramifications would be just astronomical, trade routes would be chopped off, and a whole number of other things just too much to explain. Reading an article about a speech that external affairs minister Joe Clark was presenting jogged my mind a bit. Talking about the serious costs if Quebec separated, such as the free trade treaty with the U.S., I thought what about a new economic union. Would Canada sit and negotiate one with Quebec? Answering all these questions was Mr. Clark in his speech. Most of us haven't heard it, more or less heard of it. But it brings home a shocking message: What if they did separate? Do you really care? Do you care if it only affects you directly? Do you just pay your taxes and parking tickets, shut up and go about your daily business, as usual, without thinking one thing about where the your company, in which you are employed, is? What if the head office is in Quebec? Does it affect you directly? Or will you just shrug it off and go reach for your unemployment check? THINK about it! It won't just be business as usual after separation. Letter to the editor, Re: P.E.I. distinct? "P.E.I. tells unity hearing it's a distinct society, too." More people wanting this little two word, huge affect sentence pasted onto their province. Island politicians argued that their tiny size and unique geography makes them a distinct society. What bout the Territories? Do we live in igloos? Do we catch whales and seals to live on? And what of the people in P.E.I.! We musn't forget them, the people who eat potatoes, like we do, live in houses, like we do. Geography? Is P.E.I. more isolated than the Northwest Territories? If anyone should be a distinct society, the native people of Canada should, the people that were here before the people who thought of the word Quebec, and before Prince Edward was here to have an island named after him.

Influences On A Persons Identity Essays - Identity, Gender

Influences On A Persons Identity Essays - Identity, Gender Influences on a Person's Identity What influences a person?s identity? Is it their homes, parents, religion, or maybe where they live? When do they get one? Do they get it when they understand right from wrong, or when they can read, or are they born with it? Everyone has one and nobody has the same, is there a point in everyone?s life when they get one? A person?s identity is his own, nobody put it there and nobody can take it out. Everyone in this world has a different identity because they all make their own over the course of their life. A person?s identity also causes a person to have masculine and feminine traits. There is no one thing that gives a person their identity, there are however many different factors that contribute to one?s identity. What is someone?s identity? Is it the way they look, the way they dress, or it could be many things all put together, or is it none of the above? To me someone?s identity is a part of their being. Nobody will ever hold it, touch it, or even see it, but it is there. Everybody has one, it guilds your decision making, your thoughts, ideas, and dreams. You may think something is terrible while someone else does not even care and yet another person may laugh, why? The answer is simple, everyone has his own identity and personality. Everyone feels, acts, thinks, and dreams differently. People may have some of these things in common with one another, but they will not be totally the same, it is like a fingerprint, unique. There are many origins to a person?s identity, their family, friends, home life, religion, environment and others. But how does it get there, you do not go into a store and pick on off the shelf. A person?s identity is developed over many years and put together by the person themselves. It comes from the individuals ability to think, reason and form an opinion. Nobody has the same mind, or the same or the same conscious, so how could anyone have the same identity as another. A person?s identity is developed over many years from the time they become aware of their surroundings, to the time they decide if they are going to college, and even as they grow old there identity will change with them. As people?s dreams are dreamed and goals are accomplished their identities will change with the individual. Their aspirations and values will change, causing their identities to change with it. It may be a slight alteration or a major overhaul but there identity will adjust to the person. Gender is a major cause for a person?s identity. A person might act a certain way because of the gender that is given to them. Nature and identity might make a woman act the way that she does. Men and women are different because of society has set them up with. It is observed for men to be strong and women to be weak. raised. However with all these factors related to forming an identity the most important and most influential is the person themselves. We see people every day, some whom we want to be like and some we hope we never turn out like. With all the other outside factors to guide and help or push and hamper, the individual has the last say. You are the only on who says what you want to be like over the course of your life. Nobody will ever get inside your mind and do the thinking for you. Nobody can influence you, you may feel as if you are being forced to do something but you do not have to do anything. You make the final decision. However you act, think, and speak is totally up to you. People grow up all coming from all different kinds of places, backgrounds and families. They will all have different identities. Gender affects the decisions made by people. Their identity and the ?nature? of the person makes them act the way they do. Nobody is the same and nobody will ever be. All the outside influences will have an effect on their identities but the individual

HRM & Employment Relations Essay Example | Topics and Well Written Essays - 1500 words

HRM & Employment Relations - Essay Example bloggers to the creation of content that captures the attention of the public ensures that the repetitive action of content creation and content regeneration never ceases, because the audiences are always looking to read and respond to the blogs. Therefore, blogging reinforces effective networking, without encouraging or displacing the consolidation of the blogging networks (). Nevertheless, blogging is a highly personal style of writing to a highly impersonal audience, meaning that it is an effective way of helping interpret the thought process of both the bloggers and the audience who read and responds to the blogs, considering the fact that each of these parties does it on their own terms and in their own style of understanding and reacting to the subject matter (). Then impact of blogs is that it is of the most effective ways of having an organization discuss organizational issues at lengths with the employees, meaning that blogging can highly improve the communication within an organization (). Therefore, blogging is a valuable tool for organizations, since it can make it possible for the organization to understand the feelings, thought process and reaction of individual employees regarding different organizational issues. This is because, blogging entails the application of a highly personalized mode of communication, meaning that it is easy for the organization to understand each of the contributors to the organizational blogs (). However, blogs can be a potential disaster, since they may result in the employees and the organization creating a conflict and misunderstanding regarding various subjects of blogging, which would in turn be transmitted into the physical work environment. Blogs have an influence on face-to-face communication, cons idering the fact that the interaction that is online between the audience and the bloggers is the same that will eventually be transmitted into physical communication (). This means that blogging forms the content of the

Addressing an Ethical Issue Assignment Example | Topics and Well Written Essays - 750 words

Addressing an Ethical Issue - Assignment Example During preparation of food products, it is vital that strong partnership is formed by all the parties in the production process. In this way, it will be possible for the parties to detect any issue that may result to ailment or even fatalities. A major ethical issue that faces Walmart is lack of adherence to food safety. Despite being a company that has diversified product portfolio, Walmart safety arrangements are not being upheld an aspect that is used by the competitors to face off Walmart in the market. The violations that are common in the company include expired food products, lack of proper use of sanitary cleaning equipments, and cross contamination among others. It is vital to note that despite the organization objective to increase the sales, Walmart should not do so at the expense of the consumer’s safety and health. Thus, the company should ensure that it maintains maximum safety for its products. Although it is the role of the management to ensure that the safety measures are followed by the employees among other stakeholders. Workers involved in handling, preparation and storage must ensure that they adopt food safety measures as outlined by the company policies (Unnevehr,  2003). In this way, the company will have put in place effective strategies to prevent their consumers from becoming ill. As indicated by World Trade Organization, firms dealing with food products should emulate four key strategies. First, they should prevent harming food products with pathogens spreading. Secondly, to prevent sullying the cooked products cooked and uncooked sustenance should be separated. Thirdly, a suitable life span with proper temperatures should be accorded during the cooking process to reduce the risks of pathogens. Fourthly, food should be properly stored using appropriate temperatures. A notable decision making model that I will adopt to deal with the issue of food safety is the ethics PLUS decision making model. According to this model, the firm

Research Paper Example | Topics and Well Written Essays - 1500 words

Research Paper Example In this brief research, the researcher wanted to find ways the various factors that influenced reasons for disobeying basic traffic regulations. To simplify the data collection process and make the entire project simplified, the researcher came up with a hypothesis, which the data collection and findings of the research sought to justify. The hypothesis was that â€Å"the degree to which car drivers conform to traffic regulations depends on the gender of the driver and on the presence of passengers.† To this effect, the researcher selected one particular junction at the heart of the city where a traffic light operated. The data collection procedure included the use of both observation and interview. Through the interview, it was observed that more males broke the traffic rules as compared to females. Further interview showed that the situation existed out of impunity. This is to say that most people broke traffic rules because in most cases there were no authorities to enforce the law. Introduction Traffic laws are in place basically to ensure sanity on our roads and avoid road carnage. This notwithstanding, not many drivers obey basic traffic rules (Gardener, 2009). Most often than not, drivers are seen jumping the traffic. They do this by cross their way through even when the traffic light signals for them to stop. Again, it has been noticed that not most drivers would break the traffic rule by stopping when they are not to. The researcher has a strong conviction that there are a number of factors that are responsible for the creation of this basic problem. In the estimation of the researcher, a major factor that will influence such as situation has to do with the degree of courage a driver would have that even if he beats the red light, he or she will not run into other cars. Because of this assertion, the researcher holds the hypothesis that male drivers are the worse offenders of traffic rules. Again, the passenger make up of a car would contribute to traffic law irregularities. Method The research design designed by the researcher was a survey research design. This means that the researcher selected a very large sample size and generalized the results with what prevails in all other areas. There was a specific setting for data collection and this was New Jersey. This means that are was a level of confounding where the researcher did not have to deal with people from other parts of the State. On the sampling technique, the researcher adapted the use of random sampling technique, where no specific groups of people were targeted. The approach of the researcher was to record the gender of the first one hundred (100) drivers who committed various traffic offenses at the 4 way intersection. The hundred people were therefore to constitute the sample size of the researcher. Not aware of the possible number of drivers who may conduct various traffic offenses in a day, the researcher gave himself up to five days to collect data. If he gathered one hundred (100) offenders before the first days, he would not proceed with the data collection and vice versa. Generally, the researcher used observation as a major primary data collection approach. However, in order to make the data analysis and discussion easier, the researcher went ahead to interview some drivers in the traffic lane as to why they would possibly break traffic regulations. Results and discussion The results from the data collecti

To what extent does Jane Eyre’s past affect her fate? :: English Literature

To what extend does Jane Eyre’s past affect her fate? Charlotte Brontà « uses many different ways to affect Jane Eyre’s fate. By giving Jane a difficult and tiresome childhood from a very young age it has an effect on her adult life. From a very early age Jane Eyre had a very unusual childhood. She started in a very unloving family with her aunts and cousins. She felt unloved and had a sense of refusal. Her cousin John beat her and she always hit back. When she did so, she was often caught and locked in the red room. Her auntie sent her to Loward boarding school. This was a very worrying time for Jane because already at the age of around 10 she has had no love and care in her life. The boarding school didn’t aid her in anyway. At boarding school Jane did not fit in. Again she was not cared for. She felt unsafe, unhappy, but does find her first friend. Helen Burns is a real turning point in Jane’s life. Jane really stood up for her new friend too. When Helen gets punished Jane stays with her. Little bits like this help to shape Jane into a Lady and who she will be when she is older. Jane’s new friend was a good believer in God. When Helen was very ill, Jane realises that Helen is in trouble and could die, Helen tells Jane what will happen when she dies. â€Å"I am very happy, Jane; and when you hear that I am dead, you must be sure and not grieve: there is nothing to grieve about.† This scene takes part in Helen’s bed, and is a very touching scene of the two girls bonding. The scene is clam and relaxed. By using long sentences, you can get a feel that Helen’s voice is soft, and that there is there are no interruptions. Helen goes on later to say, â€Å"I have only a father, and he is lately married, and will not miss me. By dying young, I shall escape great sufferings. I had not qualities or talents to make my way very well in the world: I should have been continually at fault† Jane and Helen have something in common here. The girls both have the sense that their families don’t love them and that they are in life on their own. But, now they have found each other, the girls are comforted that they are not the only ones. Helen has her own beliefs and opinions too. â€Å"†¦my Maker and yours, who will never destroy what He created. I rely

Seven Wonders

About a hundred years after the Statue of Zeus came the Temple of Artemis. It was built in the ancient city of Ephesus, or modern day Turkey. The architect Theodorus probably built the incredible temple, and he most likely did so to honor the Greek Goddess of the Moon, Artemis. Tragically, a man named Herostratus set the Temple of Artemis on fire along with a group of Goths in an attempt to have his name go down in history. He managed to do so and city officials tried to enforce a new law stating that if any one citizen of Ephesus mentioned his name, they would receive the death penalty; the attempt failed. All of religion at this point declined because Artemis did not protect her temple. The structure as well as the story is terrific. Measuring about three hundred feet by one hundred fifty feet, and the one hundred twenty seven columns each having a heighth of about sixty feet, one can easily see how the Temple of Artemis' means of construction are a complete mistery. Theodorus built the columns so that they had proportions to the human body. Aside from that, it was completed around 440 B. C. and took approximately one hundred twenty years to build. Such strenuous man labor classify this temple as one of the Seven Wonders of the World. Contemporary to the Temple of Artemis was the Mausoleum, which was located in Halicarnassus, or present day Turkey. It all began when Mausolus took over with Artemisia. In 353 B. C. , Mausolus died, leaving his wife Artemisia, who was also his sister, incredibly depressed. In honor of Mausolus, she decided to build him the â€Å"most splendid tomb in the known world. † The Mausoleum surprisingly managed to remain intact after over sixteen centuries. It went through many hardships and risky situations, one being the reign of Alexander the Great, and yet somehow never fell apart. It did, however, eventually collapse when a severe sequence of earthquakes passed in the fifteenth century. Unlike the other â€Å"Wonders of the World,† this building did not rely on size, but rather on beauty to catch the eyes of modern people. That is to say, the Mausoleum was so beautiful and unique that it became one of the Seven Wonders of the Ancient World.

Impact Of Tax On The Choice Finance Essay - Free Essay Example

Sample details Pages: 14 Words: 4210 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? The different combination of funds that a firm uses to finance its activities is known as capital structure. Capital can be raised either by using owners claim (owners savings, issuing ordinary shares or by retaining the earning) or creditors claim (borrowings). In other words equity capital structure exists in two forms equity capital and debt capital. Tax affects investors and managers decision on capital structure choices as it decreases earnings. Graham (2003) states that both personal and corporate tax should be considered in order to analyze capital structure choices more accurately. Debt refers to any fund that a company borrows with the intention to payback in equal installment over a fix period of time and the principle amount at maturity. Don’t waste time! Our writers will create an original "Impact Of Tax On The Choice Finance Essay" essay for you Create order Advantages After debt has been paid, the lender has no claim over the firm. Interest paid to debt holders are tax deductible. Disadvantages Firms cash flow must be enough to repay its debt. Failure to debt repayment affects the credit rating and ability to obtain future financing. Equity Equity refers to the buying and holding of shares by individuals with an ownership interest. It can of two forms either ordinary or preference shares. Ordinary shares receive part of a firms cash flow which is known as dividend after payments have been made to debt and preference shareholders. Advantages Permanent source of finance which do not have to be paid back. Outside investors bring new ideas to explore and execute new ideas. Disadvantages Division of ownership and profit. Potential investors seeking classified business information. Debt-to-Equity Ratio (Leverage) Leverage ratio measures the different fund raising opportunities by creditors and shareholders. Firms with higher debts than equity are considered to be highly levered. Too much debt are unsafe and risky as it out weights the firms return and high level of equity indicates that the firms are not making the most productive use of its capital vis--vis leverage for obtaining cash. For a firm to be considered sensible and credit worth it should have leverage ratio between 1:2 and 1:1. Managers often act opportunistically to reduce cost by taking tax advantage of debt financing. Value relevance of capital structure choices and impact of taxation on finance has been to prior discussion. Features of capital structure Firms should choose a capital structure which is most appropriate to the firm. Such a decision can be taken only if the entire potential treat affecting the firms capital structure decisions has been well analyzed and balanced. Factors affecting capital structure are as follows: Nature of business Characteristic of company Management control Cost of finance Expected earnings in relation to interest changes Availability of cash Flexibility of capital structure Risk Capacity Determinants of capital structure Published theories and empirical evidence considers profitability, tax, NDTS, size, liquidity and tangibility are possible determinants among others in capital structure choice. Size Large firms are able to reduce transaction cost in the long run when raising capital. According to the trade-off theory, size and debt has a positive relationship as larger firms has stable cash flow, more dilute ownership and less prone to bankruptcy (Friend and Lang 1988) compare to smaller firms where there is shareholder-lender conflict (Titman and Wessels 1988). Profitability MM1 theory considered that profitability has no effect on leverage. Later on they found that since interest is tax deductible, large firms take advantage by issuing more debt. The trade off theory argues that profitable firms will borrow more to benefit from NTDS which postulates a positive relationship between profitability and leverage. Liquidity Firms with high liquidity borrow less. However, in market oriented economies a negative relationship between liquidity and leverage is expected as managers can manipulate liquid assets in the interest of shareholders by increasing the agency cost of debt. Tangibility The more tangible is a firm, the greater is its ability to secure debt (Booth et al 2001). Highly tangible firm reduces the risk of creditors and increases the value of assets in case of liquidation. However Brealey and Myers (1996) found a negative relationship between tangibility and short term debt. Tax Firms with higher tax rate should use more debt by having a higher leverage as it will have a higher income to shield from taxes. MacKie-Mason (1990) argued that Nearly everyone believes that tax must be important in financing decision, but little support has been found in empirical analysis. Non-Debt tax Shields (NDTS) The attractiveness in debt financing is that a tax relief is allowable on interest payment. The net tax gain of the firm is the amount of interest payable. Expenses other than interest payment which are deductible from tax exemption like depreciation or investment tax credit are known as NDTS. DeAngelo and Masulis (1980) argue that NDTS reduces the potential tax benefit of debt financing. Ceteris paribus, decreases in allowable investment-related tax shield due to changes in the corporate tax code or due to changes in inflation which reduces the real value of tax shields will increase the amount of debt that firms employ. Firms with lower investment related tax shield will employ greater debt in their capital structures. Modigliani and Miller (1958) (MM1) Over 40 years of pioneering work, the Irrelevance Theory of MM1 came with a simple definition that the value of the firm depends on the value of its real asset and the net cash flow generated by its assets rather than the cost of raising capital and the firms capital structure by following these assumptions[1]: Capital market is perfect (no tax or transaction cost). Investors have perfect information and homogeneous expectations. Investment decisions do not affect investment outcomes. Managers work in the best interest of investors to maximize their wealth. No bankruptcy cost. MM1 demonstrated that the firms value is determined solely by its cash flow and will remain unaffected irrespective of the firms capital structure. Hence under a perfect capital market, any combination of securities would be as good as another by allowing complete separation of investment and financing decision. The value of a levered firm (both debt and equity) (VL) must be equal to the value of an unlevered firm (only equity) (VU). VU = VL The weighted average cost of capital (WACC) for each firm will also be constant as derived below: WACC = rA = rd D/V + re E/V Where rd and re are the cost of debt and equity respectively and D and E are the market value of debt and equity relative to the firm value (V). Different firms with same WACC and cash flow should have identical values. Therefore it can be said that the only advantage of borrowing which is the cheap cost of borrowing as it is less risky to investors whereas financial leverage is the only disadvantage of borrowing. However, MM1 demonstrate that such an effect is cancel out exactly as cheap debts gives shareholders a higher rate of return but return is offset by the compensation given to shareholders resulting from higher leverage as shown below: Advantages Disadvantages Use of cheap dept Increase in cost of equity MM1 theory in the attempt to use cheaper debt is offset by the resulting increase in the cost of equity capital.[2] Non Taxed Economies MM1 theory is consistent in countries such as Kuwait, Saudi Arabia and Bahrain among others[3]which follow the principle of Shariah (Islamic ruling). Those who devour usury will not stand except as stands one whom the devil by his touch has driven to madnessÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦. Trade is like usury but Allah has permitted trade and forbidden usuryÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦. Allah will deprive usury of all blessing, but will give increase for deeds of charity, for he loves not any ungrateful sinnerÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦. O you, who believe, fear Allah and give up what remains of your demand for usury, if you are indeed believers. (Surah al Baqurah verse 275-280)[4] Such countries are resistant to the payment or acceptance of interest charges (riba) for the lending and acceptance of money. Tax and interest are considered to be a taboo as there significant difference about how a debt is structured and obtained for corporate financing in the Arab League. Edward (2000) found that 95% of the Islamic financial institutions follow the Islamic principle. Certain form of predetermination of profit or mark up is acceptable to Sharia as it is considered as a capital gain but not interest. Assuming other factors remaining constant such as risk, liquidity, maturity, agency cost, bankruptcy cost and information asymmetry cost to be equal there should not be a preference for debt over equity and vice versa in a non taxed economy which satisfy MM1 theory. Modigliani and Miller (1963) (MM2) Corporation Tax MM1 theory had to be revised in order to implement tax (t) in the capital structure breaking down. The underlying problem is that dividend and interest are treated unsymmetrical in the corporate tax bill. Interest is not taxable at corporate level thus the after tax stream payable to stakeholders will affect the value of the firm and the choice of capital structure. Following the marginal tax benefit of debt financing, any additional unit of debt would decrease WACC and leave a higher after tax cash flow to equity holders resulting to a higher firm value. Following MM2 theory, in a world with corporate tax, a firm should maximize its use of debt to benefit from the interest tax shield (td)[5]. Firms with debt will have a higher value than that of an unlevered firm by an amount equal to the marginal tax rate multiplied by the value of debt as illustrated below: VU = VL + td For the same level of operating income, using the tax shield benefit (1-t) of debt financing, WACC for a levered firm must be lower than that of an all equity firm. By the introduction of corporation tax and adjusting the tax benefit from debt, the following WACC formula can be derived from MM1 theory. WACC = rA = rd (D/V)(1-t) + re (E/V) Hence, unlike MM1 proposition, it can be found that in a market there are imperfections. The choice of capital structure and firm value differ accordingly to the extent to which they are affected by the imperfections. The formula shows that the shareholders and debt holders are not the only ones to claim for firms cash flows as tax represent a claim. As leverage increases, tax claim over the firms cash flow decreases. However, bankruptcy cost is also a claim on cash flows whereby the value of bankruptcy claim increases with leverage. The following pie charts explain that if debt of a firm increases, the relatives value of the claims vary accordingly as illustrated below: As leverage increases, tax is reduced because the corporation tax system carries a distortion under which the return to debt holders is tax deductible, whereas returns to shareholders are not. Thus the advantages of using debt increases as shown below: Disadvantages Increases cost of equity Tax relief on interest Cheap debts Advantages The original cheap debt advantage continues to be offset by the increase in the cost of equity when debt is used. Corporate and Personal Tax Using the arbitrage concept MM demonstrated that if the value of a similar asset is sold at different prices for a levered and unlevered firm then an investor can make an arbitrage profit (buying undervalue and selling overprice asset). An investor is taxed differently on his income from interest, dividend and capital gain. Equity holders are taxed twice both at corporate level and personal level whereas debt holders are taxed only at personal level. A rational investor would act differently on their choice of investment to avoid tax. Following the cash flow stream accruing to equity holders with interest tax, corporate tax (rc) and dividend tax, the following equation can be used to represent the present value of a firm. VL = VU + D{1- (1-rc)(1-re)} (1-rd) The second term on the left shows the taxation gain from debt that a firm would benefit. MM showed that the value and cost of a firm is unalike with and without tax. Diagrammatically, it can be illustrated as follows: Non Tax Firm Cost of capital re Cost of equity rA WACC rd Cost of debt D/E Tax Firm Cost of capital re Cost of equity rA WACC rd Cost of debt D/E The WACC of a taxed firm tend to decrease towards the cost of debt because of the existence of marginal tax benefit of debt financing which reduces cost of raising capital. The decreasing WACC shows that a firm should borrow as much as possible. Being a rational investor or firm manager, there should always be a preference for debt over equity by decreasing tax liability and maximizing return. If the company uses share capital to raise finance then it will be foregoing the advantage of borrowing. The advantage of borrowing as the present value of tax saving from interest payment is known as the tax shield. It is found that when corporation tax was introduced in the in the revised theory, the value of the geared and ungeared companies differs by the amount of tax shield. Apart from tax there are other factors such as financial distress, agency cost and information asymmetry which are associated with the use of debt and influence the value of levered firm. Static Trade off Theory The trade off theory stipulates that there exist an optimal capital structure. When firms take decision about financial leverage, they must weigh the value enhancing or reducing effect on leverage by balancing the advantages and disadvantages of an additional unit of debt. Among the advantages include the interest tax shield of debt[6]which is unpaid at corporate level and disadvantages include the cost of financial distress[7](PV). Financial distress occurs when a firm has lower or negative earnings during economic slowdown. It includes cost such as: Direct cost such as lawyers fees, court fees and administrative expense that absorb a large part of the firms value. Indirect cost are non managerial actions impose by customers, suppliers and capital providers if the firm doesnt go into bankruptcy. The cost incurred during the time interval for the bankruptcy cases to be settled as over time the value of the asset will be depreciated. Financial distresses are all the administrative and legal cost that arises whenever the credit worthiness of a firm is in doubt which can reduce its market value. Hence the value of a levered firm will be as follows: VL = VU + td PV The optimal capital structure is any point where the value enhancing effect completely offset the value reducing effect by increasing financial leverage. In other words it is the optimal point where the value of capital structure is maximized as shown below: Market value of firm Maximum Value of Firm Cost of Financial Distress PV of Interest Value of Levered Firm Tax Shield Value of Unlevered Firm D/E Cost of Capital Cost of Equity WACC Cost of Debt Optimal Debt/ Equity Ratio D/E From the above diagram it can be seen that as cost of equity is assumed to increase at an increasing rate to leverage, cost of debt will rise only after significant leverage has occurred. This occurs because the WACC of equity financing does not offset entirely the use of cheaper debt. Unlike the MM theory (1958) that argue that a firm can take as much debt as it wants, the trade off theory postulates that the optimal debt usage is any point where any additional would cause cost of financial distress to increase by an amount greater than the benefit of additional tax shield. Agency cost theory Jensen and Meckling (1976) found that the optimal capital structure will be determined by minimizing the cost that arises by firms owners due to conflicts between debt holders and equity holders and between managers and equity holders. Agency cost arises due to the fact equity holders have limited liability while debt holder receive a fixed maximum return. When a firm is in financial distress, shareholders encourage management to expropriate fund from debt holders to equity holders. Debt with interest payments reduces the agency conflict between shareholders and mangers as when interest payment are due managers are stuck in legal procedures, thus they will operate in such a way that will maximize shareholders wealth. Hence managers stipulate the optimal capital structure when agency cost is minimized. Pecking Order Theory Pecking order theory is based on the asymmetric information problem (Myers and Majluf 1984). Asymmetric information arises due to the fact that managers are better informed in terms of the firms current earning and future growth opportunities than outsiders investors. There is no optimal capital structure as debt ratios will change according to investment opportunities. Firms opt mostly for internal financing whenever possible and have a preference for debt over equity as it is less affected by information asymmetry (Peireson et al 2002). Internal funds can be raised without any cost and any disclosure of prior information. Managers will choose to issue debt whenever investors undervalue the firm and issue equity in periods of high market performance and vice versa. Hence the debt/ equity ratio is observed to have a direct relationship with market performance. Such a theory mostly lays emphasis on the cost of issue as it takes the lowest financing to finance investment decision and t hen moves towards the highest one. Thus it can be justify that highly profitable firms will generally tend to borrow less and aim to have a low leverage ratio because they dont need external finance. The theory further stipulates that if surplus cash generated cannot be reinvested, it can be used to pay-off debt rather than paying dividend on short terms or purchase back shares. In other words, it ensures a stable dividend policy rather than consistency in the gearing ratio, signifying that an optimal level of gearing is not a priority. Empirical Evidence Empirical studies have generated many attempts to explain the determinants of capital structure. Using the fourteen European communities, Gleason et al (2000) found that capital structure is influence by the legal environment, tax environment, economic system and technology capabilities. Based on an international basis it is found that the surrounding environment, macro economic conditions and firms economic factors affect financing decisions. Opler and Titman (1997) try to determine the relative importance of debt to equity choice by comparing firms in the US. In their study carried out in the period 1976-1993, they found that firms behaviour could be explained by the static trade-off and pecking order theory to explain the choice of capital structure. Titman (2001) found that firms with low leverage and high level of profit will issue more debts which are in accordance to the tradeoff model. Furthermore, they confirm that there is a negative relationship between the market-to-book ratios and the debt to equity choice. This is due to the fact that as the probability of issuing debt to equity declines with the firms market-to-book ratio, firms with high market-to-book value will have a high target ratios and vice versa. A study done by Manos and Ah-hen using 24 nonfinancial listed firm for the period 1992-2000 in Mauritius found out that the determinants of capital structure are in favor of the pecking order theory that is firms prefer internal financing when available and for external financing there is a preference of debt over equity, thus rejecting the trade off theory. They also found that there is a preference for long term finance in the Mauritian capital market with respect to age, growth, risk and profitability. Singh and Hamid (1992) selected 50 manufacturing firms quoted on the stock market from nine developing countries namely Mexico, India, Pakistan, Turkey, Korea, Thailand, Malaysia, Jordon and Zimbabwe. They found that the firms were relying heavily on external funds and new issue of shares to finance new asset. In the 1980s, Korea had 40% of equity in its capital structure, Jordan 50% and Turkey 60%. Such a result was unexpected as it goes against the pecking order theory which stipulates that firms should prefer internal source of finance as opposed to external ones and if investment requirements are greater than retained earnings, they should prefer debt and as a last resort issue equity to raise capital. Based on a study of 800 non-financial firms in 7 emerging countries namely Argentina, Brazil, Indonesia, Malaysia, Mexico, South Korea and Thailand for the period 1980-1990, Schmukler and Vesperoni (2000) found that larger firms have a lower level of short-term debt, a higher lever of long-term debt and hold debt of higher maturity. Firms with higher level of profit are positively correlated with the level of internal financing thus holding shorter debt maturity and have a low leverage. Such finding is consistent with the pecking order hypothesis. Theoretical arguments of tax sensibility for capital structure are very strong, Mac Kie Mason (1990); Trezevant (1992); Dhaliwal er al (1992); Shum (1996); Graham and Tacher (2006), found that there is a significant tax effect on the debt policy of firms. Firms with low corporation tax will have a lower amount of debt. , Hahn, Ofer, and Sarig (1992) find that increasing tax rates at corporate level make debts more attractive. Graham (1998) in his paper found that corporate tax and personal tax has a significant importance and affects corporate financing decision. There exist a negative relationship between debt ratios and tax rates when taxes are measured with after-financing income because interest on debt are tax deductible at corporate level thus reducing the expected marginal tax rates, while Schulman et al. (1996) found that debt ratios with respect to the before financing tax rates are positively correlated across a sample of 51 countries. Firms with high income tax will shift to more debt in their capital structure in order to decrease the tax liability. Instead of using just the past paid taxes, Givoly, et al. (1992) tested the effect of the Tax Reform Act (TRA) 1986 in respect to the change in leverage of the US firms. He used the support of basic theories of capital structure and found that firms decrease leverage whenever there is a drop in tax rate is greater with an effective tax rates. He found that the relation of debt use is positively correlated with the marginal tax rate and firms with statutory tax rate greater than marginal tax rate will issue more debts with the expectation of to decrease tax bill. DeAngelo and Masulis (1980) worked on the effect of non-debts sources of tax shield and found that the tax shield benefit of debt can be derived only after other tax shield benefit such as depreciation, losses and investment tax credit has been exhausted. Hence the tax shield benefit of debt is moderated by the presence of non-debt tax shield benefits. Booth, et al (2001) tested whether capital structure theory is in line across countries and found as the previous empirical researcher that across countries debt ratio are negatively related to tax rates. Their attributes were based on the possibility of higher profitability rather than emphasizing on the debt tax shield potential. However Antoniou,et al (2002) used a panel of data from Britain, France and German and found that capital structure decision is based on a number of variables than tax. Using the non debt tax shield (NDTS) effect on debt policy, Givolry at al (1992) and Graham (1996) found that there is a negative relationship between the level of a firms debt and the amount of NDTS[8]. Later on, Bathala et al (1994) found a positive relationship between a firms level of debt and the amount of NDTS which is according to the traditional theories. Thus the positive relationship suggest that NDTS affect debts, that is the higher is NDTS, the higher will be the value of the firm. Draper and Huizinga (2001) analyzed the corporate tax rate on the cost of capital and investment to determine the optimal capital structure of firms located in Netherlands. In this paper they found that a reduction in corporate tax rate reduces the cost of capital and that corporate tax has a direct effect on profit. Thus a decrease in corporate tax rate has either a positive, negative or neutral effect on the on the marginal incentive to invest if capital cost is less than fully, more than fully or fully deductible from corporate taxable income. In Netherland, since capital cost is less than fully deductible from corporate taxation, a decrease in corporate tax rate will increase investment. However, an increase in corporate tax will discourage new firms to invest or invest elsewhere. Feltenstein and Shah (1993) used an equilibrium model to address the issue of investment tax credit in Pakistan. Firstly, they wanted to estimate the effect of the increasing investment tax credit from 15% to 30% and found that there was a significant increase in inflation rate. Secondly, they retained the original investment tax credit and reduced the corporate tax rate and found that capital formation increased. Limited studies are done on the effect of personal tax on the choice of capital structure. Givoly et al (1992) found a negative relationship on firms leverage while Graham (1996) observe that personal tax of debt and equity has no effect on debt. Recently in 2008, Huizinga, Laeven and Nicodeme found a direct relationship between financial leverage, local tax and tax differential across countries of European multinationals.