How Much Americans Respect the Time of Others free essay sample

Is It a thing to be spared or spent or squandered, Like cash? Or on the other hand Is It something we have no power over, Like the climate or classifier? Is time a similar everywhere throughout the world? That is a simple inquiry, you state. Any place you go, a moment Is 60 seconds, an hour Is an hour, a day Is 24 hours, etc. All things considered, possibly. In any case, In America, time is more than that. Americans consider time to be a significant asset. Possibly that is the reason they are partial to the articulation, Time is cash. Since Americans accept time is a restricted asset, they attempt to preserve and oversee it. Individuals in the U. S. Ten go to classes or read books on time the board. It appears they all need to sort out their time better. Experts heft around pocket organizers some in electronic structure to monitor arrangements and cutoff times. Individuals do everything they can to press more life out of their time. We will compose a custom paper test on The amount Americans Respect the Time of Others or on the other hand any comparable point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page The early American saint Benjamin Franklin communicated this view best: Do you love life? At that point don't sit around idly, for that is the stuff life is made of. To Americans, reliability Is a method of indicating regard for different people groups time. Being over 10 minutes late to an arrangement for the most part requires an expression of remorse, and possibly an explanation.People who are running late frequently call ahead to tell others of the postponement. Obviously, the less formal the circumstance, the less significant it is to be actually on schedule. At casual social affair, for instance, individuals regularly show up as much as 30 minutes past the selected time. Yet, they as a rule dont attempt that at work. American ways of life show how much individuals regard the hour of others. At the point when individuals plan an occasion, they frequently set the time days or weeks ahead of time. When the time is fixed, it takes right around a crisis to transform it. In the event that individuals need to go to your home for a benevolent visit, they will normally call first to ensure it is convenient.Only exceptionally dear companions will Just drop unannounced. Likewise, individuals falter to call others late around evening time for dread they may be sleeping. The time may change, however most people mull over calling after 10:00 p. M. To pariahs, Americans appear to be attached to the clock. Individuals In different societies esteem connections more than plans. In these social orders, individuals dont attempt to control time, yet to encounter It. Numerous Eastern societies, for instance, see time as a cycle. The mood of nature-from the death of the seasons to the month to month pattern of the moon-shapes their perspective on events.People figure out how to react to their condition. Subsequently, they think that its simpler to accept circumstances for what they are than Americans, who like intends to be fixed and unchangeable. Stone creation line : http://www. Smasher send out. COM/stone_line. Buoyancy separator : http://www. . COM/smasher/buoyancy separator. HTML How Much Americans Respect the Time of Others By What is time? Is it a thing to be spared or spent or squandered, similar to cash? Or on the other hand is it something we have no influence over, similar to the climate or classifier? Is time a similar everywhere throughout the world? That is a simple inquiry, you state.

Essay Writing Tips for Students

Essay Writing Tips for StudentsWriting essays can be a tiresome task. It requires that you take notes and research material before submitting it to a professor or to the student in class. The act of writing an essay does not end when you finish writing. Instead, you must take care of all the things related to your writing work.You may think that the importance of papers and essays can be overlooked if you consider it as just writing. But if you do not take the right steps, you may find yourself writing for many years. And if you do not remember what you have written for the next paper, it may be much more difficult to catch up with your classmates.A good job at editing is essential for any writing assignment. That is because you need to keep it short and concise. The articles should not last for too long. And it would not make sense if you make the readers wait.It is advisable that you start writing a first draft of your essay. Then, if you are very confident that you have written a good one, then you can make the revisions. This will give you a better and clearer idea about the sentence structure.Assigning essays can also be easy. Many professors and universities have a directory of professors who need students' writing works. This makes your task easy since you will know the types of essays that you can write. These include case studies, surveys, opinions and the like.You can either write the essay yourself or you can hire a tutor to edit it. However, a professional editor has the qualification to do it well. He will be able to provide you a fresh, clean and fresh look. He will be able to pick up any problems that the essay might have. With this, you will be able to sell your writing skills to your professor.When you are done with the assignment, it is important that you store it carefully. For example, you need to file your work so that it can be accessed later on. Also, if the assignment is supposed to be sent to a school, then the school can see if it has a duplicate since they may get the same assignment.Essays should be written fast and must be checked very well. Once the piece is checked, it should be distributed so that others can see it. The last thing that you want is to have a final paper that does not hold the attention of your reader. The writing is the only way that you can grab his or her attention.

Night World : Spellbinder Chapter 12

Fhea chose the container springs, not the most agreeable seat. â€Å"Now, this all occurred back in the days when there was as yet enchantment, alright? Also, Helle-wise could do enchantment, thus could the greater part of the individuals in her clan. She was the girl of Hecate Witch-Queen-â€Å" â€Å"She was a witch?† Roz sounded interested. â€Å"Well-they didn't consider it that at that point. They called her a Hearth-Woman. Also, she didn't appear as though a Halloween witch. She was lovely: tall, with long yellow hair-â€Å" â€Å"Like you.† â€Å"Huh? Oh.† Thea smiled. â€Å"Thanks, in any case, no. Helle-wise was extremely wonderful and she was keen and solid, as well. Also, when Hecate kicked the bucket, Hellewise became co-pioneer of the clan. The other pioneer was her sister, Maya.† Rosamund's entire head was over the sleeping pad now. She was tuning in with wild, if doubtful, intrigue. â€Å"Now, Maya.† Thea bit her lip. â€Å"Well, Maya was lovely, as well: tall, yet with long dark hair.† â€Å"Like that young lady who went to the vet's after you.† Thea was quickly alarmed. She'd overlooked Rosamund had seen Blaise. â€Å"Well-uh, possibly a bit. Anyway, Maya was brilliant and solid, as well however she didn't care for offering the authority to Hellewise. She needed to control alone, and she needed something different. To live forever.† â€Å"Sounds like a smart thought to me,† Rosamund snarled. â€Å"Well-no doubt, there's nothing amiss with being eternal, I concur. But, see, that everything relies upon the amount you're willing to pay to be it. Alright? Following me?† â€Å"Nope.† â€Å"Well†¦Ã¢â‚¬  Thea fumbled. Any Night Person would know promptly what she was discussing, regardless of whether by some over the top possibility they hadn't just heard the story. Obviously people were extraordinary. â€Å"Well it involved what she needed to do. No customary spell would make her unfading. She attempted a wide range of things, and Hellewise even helped her. Lastly they made sense of what sort of spell would do it-however then Hellewise refused.† â€Å"Why?† â€Å"Because it was excessively terrible. No, don't ask me,† Thea included as Rosamund's advantage level promptly shot up. â€Å"I'm not going to let you know. It is anything but a subject for kids.' â€Å"What, what? On the off chance that you don't let me know, I'm simply going to envision much more dreadful things.† Thea moaned. â€Å"It had to do with babies, alright? Furthermore, blood. Be that as it may, that is not the purpose of this story-† â€Å"They executed babies?† â€Å"Not Hellewise. Maya did. Also, Hellewise attempted to stop her, yet † â€Å"I wager she drank the blood.† Thea halted and took a gander at Rosamund. Human children were oblivious, yet not imbecilic. â€Å"Okay, indeed, she drank the blood. Satisfied?† Roz smiled, gestured, and sat back, listening enthusiastically. â€Å"Okay, so then Maya got godlike. Yet, the thing was, she didn't know until thereafter the cost she'd need to pay. She would live everlastingly however just in the event that she drank the blood of a human animal consistently. Else, she'd die.† â€Å"Like a vampire,† Rosamund said with relish. Thea was stunned for a moment, at that point she giggled at herself. Obviously people thought about vampires a similar way they thought about witches. Senseless legends loaded up with deception. Be that as it may, that implied Thea could reveal to her own story unafraid of being accepted. â€Å"Just like a vampire, really,' she said astonishingly, holding Rosamund's eyes. â€Å"Maya was the primary vampire of all. And every one of her youngsters were reviled to be vampires, too.† Roz grunted. â€Å"Vampires can't have children.† She looked far fetched. â€Å"Can they?† â€Å"The ones slipped from Maya can,† Thea said. She wasn't going to state the word â€Å"lamia† to a human. â€Å"It's just the thoughtful who get made into vampires by being nibbled that can't. Maya had a vampire child called Red Fern and she bit individuals. That is the story, you see-Maya needed to make everyone like her. So she began gnawing individuals in the clan. Also, in the long run Hellewise chose she needed to stop it.† â€Å"How?† â€Å"Well, that was the issue. Hellewise's clan needed to battle with Maya and different vampires. Yet, Hellewise knew whether they did that, they'd most likely all get murdered. The two sides. So Hellewise tested Maya alone to a duel. Single combat.† Rosamund pushed the sleeping pad over with a pound. â€Å"I'd battle a duel with Mr. Hendries-he's the young men's trekleader.† She hopped on the sleeping cushion and assaulted a pad with hands and feet-and teeth. â€Å"I'd win, as well. He's out of shape.† â€Å"Well, Hellewise would not like to battle, yet she needed to. She was terrified, in light of the fact that as a vampire Maya was significantly more grounded now.† For a second, Thea considered it, imagining the old story the manner in which she had as a youngster. Seeing Hellewise in her white cowhide move, remaining in obscurity woodland and trusting that Maya will come. What's more, realizing that regardless of whether she won the battle, she'd most amazing being sufficiently valiant to continue remaining there. Being eager to quit any pretense of everything for her loved ones, and for harmony. I don't figure I would ever be that valiant. That is to say, I'd unquestionably trust I would be, yet I have an awful inclination that I wouldn't. And afterward an unusual thing occurred. Right then and there, she appeared to hear a voice, not her typical brain voice, however one that was pressing and practically accusatory. Posing an inquiry as though Thea hadn't recently chosen the appropriate response. Okay quit any pretense of everything? Thea moved. She didn't normally hear voices. I guess that is the thing that Hellewise more likely than not been suspecting, she let herself know precariously. â€Å"So what was the deal? Hello! Thea! What happened?† Rosamund was war-moving on the sleeping pad. â€Å"Oh. Indeed, it was a horrible battle, however Hellewise won. She drove Maya away. Furthermore, the clan was left in harmony, and they all lived cheerfully ever after†¦ um, aside from Hellewise. She kicked the bucket of her wounds.† Rosamund quit moving and gazed in dismay. â€Å"And you're disclosing to me this to cause me to feel better? I never heard such a lousy story.† Her jawline started to tremble. Thea overlooked she was managing a human youngster. She held out her arms the manner in which she needed to Bud the little dog, the manner in which she would have to any animal in agony and Rosamund dedicated herself completely to them. â€Å"No, no,† Thea stated, tensely nestling. â€Å"You see, the fact of the matter is that Hellewise's kin lived on, and they were free. Furthermore, that may appear to be a seemingly insignificant detail, since they were only a little clan, however that little clan got greater and greater, and they remained free. And all the witches on the planet are plunged from them, and they all recall Hellewise and respect her. It's a story each mother advises her daughters.† Rosamund inhaled unpredictably for a second. â€Å"What about her sons?† â€Å"Well, her children, as well. At the point when I state ‘daughters' I mean ‘sons and little girls.' It's simply shorter.† One green eye gazed upward from a mop of shaggy hair. â€Å"like ‘he' and ‘him' should mean ‘she' and ‘her,' too?† â€Å"Yeah.† Thea thought. â€Å"I surmise possibly nor is the best system.† She shrugged. â€Å"The significant thing is that one lady's mental fortitude kept us-them-all free.† â€Å"Look.† Rosamund fixed up, gazing through the hair. â€Å"Are you simply yanking my chain or is that a genuine story? Since honestly you appear to be a witch to me.† â€Å"That's what I was going to say,† an interested voice behind Thea said. Thea's head snapped around. The entryway was open a couple of inches and a lady was remaining there. She was tall and slender, with little glasses and long luxurious earthy colored hair. Her demeanor helped Thea to remember a look Eric got once in a while, a look of sweet puzzlement, as though he'd out of nowhere been struck by one of life's mind-boggling riddles. In any case, that didn't make a difference. What made a difference was that she was an outsider. An Outsider. A human. Thea had been exclaiming the insider facts of the Night World, the historical backdrop of the witches, and a human grown-up had been tuning in. Out of nowhere her hands and feet went numb. The brilliant fog vanished, leaving her in a cool, dark reality. â€Å"I'm sorry,† the human was stating, however to Thea the voice appeared to originate from a separation. â€Å"I didn't intend to surprise you. I was simply joking. I truly was getting a charge out of the story-kind of an advanced legend for kids, right?† Thea's eyes centered around another human behind the grown-up. Eric. He'd been tuning in, as well. â€Å"Mom's such a kidder,† he said apprehensively. His green eyes were sorry and serious. As though he were attempting to make an association with Thea. In any case, Thea would not like to be associated. Couldn't be, to these individuals. She was encircled by people, caught in one of their homes. She felt like the poisonous snake around of enormous animals with sticks. Sheer, crude frenzy surpassed her. â€Å"You ought to be an essayist, you know?† the human lady was stating. â€Å"All that creativity†¦Ã¢â‚¬  She made a stride inside the room. Thea stood up, dumping Rosamund on the floor. They were coming at her-at this point, the very dividers appeared to be shutting in. They were outsider, remorseless, perverted, threatening, underhanded, not-her-kind. They were Cotton Mather and the Inquisition and they thought about her. They were going to point at her in the road and cry â€Å"Witch!† Thea ran. She slipped among Eric and his mom like a terrified feline, not contacting both of them. She ran down the corridor, through the family room, out the entryway. Outside, the sky was obfuscated over and it was getting dim. Thea just halted long enough to get her course, at that point traveled west, strolling as quick as could be expected under the circumstances. Her heart was beating and advising her to speed up. Escape, escape. Go to earth. Discover home. She turned corners and crisscrossed, similar to a fox being pursued by the dogs. She was a little ways from the house when s

Derivatives Mishaps Example For Free - Free Essay Example

Metallgesellschaft Corporation is one of the subsidiaries of Metallgesellschaft A.G. , a German Conglomerate which largely owned by institutional investors and banks such as Deutsche Bank AG, the Dresdner Bank AG, Daimler-Benz, Allianz and the Kuwait Investment Authority. In 1993, Metallgesellschaft Refining and Marketing known as MGRM which is one of the Metallgesellschafts trading subsidiary, had decided to establish a huge amount of derivatives positions which consists of futures and swaps to perform hedging on its price exposure and MGRM was to sell certain amount of petroleum for up to 10 years at a fixed prices. Mostly the clients or customers of MGRM are retail gasoline suppliers, large manufacturing firms and government agencies. The total amount of petroleum barrels that MGRM had committed to deliver are 160 million barrels. MGRM provided their customer petroleum at a fixed price who they often face liquidity and margin issues when oil price rises and MGRM believed that it is possible to arbitrage with the spot market and long term contract. MGRM had provided their customers a chance to shift the price risk in the fluctuating oil price market as MGRM had confidence in their financial resources were able to manage risk transference efficiently. One of the MGRM hedging strategy in order to manage spot price risk was to use front-end month futures on NYMEX. Besides that MGRM employed stacked hedging strategy but not spreading them over longer dated and maturity. Eventually, things went opposite to MGRMs assumption and Metallgesellschaft had reported a total loss of $1.3 billion in late 19 93 . Metallgesellschaft had requested bailout from the investors and banks with a total amount of $1.9 billion in order to rescue and prevent it from going into bankruptcy. Causes of Derivatives Mishaps One of the causes that lead to derivative mishaps is the assumption of economics of scale and was mistaken by MGRM by going for long future and entered into OTC swap agreements. When the prices of the oil rises, MGRM will generates a gain but when the price falls, MGRM will suffer losses. Therefore, this rolling strategy is working when MRGM hedging against MGRM clients trades when only the oil price drops while MGRM suffer loses when the price rises . MRGMs forward contract has leaded them into a dangerous position when there is a rising price of the oil. Such hedging strategy had been exposing the firm to three risk which is the basis risk, liquidity risk and also credit risk. The firm was hedging with a maturity structure which was mismatch with its delivery contracts. It will expose the firm to basis risk because the value of the short dated futures positions is not compensated by equal and opposite variations in the value of the long-dated delivery contract. The value of th e contract will not be able to hedge perfectly because of the mismatch of the maturity. All the gain and losses are settled daily. The holder need to pay or receives an amount equal to the daily change in the future price. When the price drop, MRGM need to incur negative cash flow to fund for the margin calls. Besides that, the future contract contained an option which enabled the counterparties to closure the contract early if the New York Mercantile Exchange future contract was greater than the selling price of the MRGM. This option is attractive to the customer which have financial distress problem. Other than that, the hedge was created with a view that the market would be in backwardationÂÂ  situation. The risk manager believes that the market will remain in the backwardation because it is usually happen in the stock market. Therefore, they decided to follow the hedge strategy. However, the market has shifted to contangoÂÂ  where the futures prices are higher than the spot prices. This causes the increasing in the cost of the hedge. All the gain due to the short positions was more than offset by a loss due to the futures positions. It will causes certain issue as to the size of the firms total open interest was a larger percentage of the total and making these position to be liquidated will be harder and more challenging. The firm also exposed themselves with the risk that not having enough amount of funds in case of immediate margin calls. The firm faced some problems in providing certain amount of funds to maintain the position.A hedge is supposed to transfer away the market risk but the firm was exposed to the risk that needs to find out the cash for the immediate margin call that caused by the contango effect. They were exposing themselves to 85 days worth of the entire output of Kuwait. If oil prices happens to decrease, MGRM would incur losses on their dedicated hedging positions and would undoubtedly receiving margin calls. As such leading to negative cash flow in the short run as no cash would be received for the gain in the value of the forward contracts until the oil was sold although the gain in the forward contract positions would offset the losses. No economic loss would occur because of their hedge strategy, but the size of their position created a funding risk. The stack and roll strategy cause the losses because in a contango market the spot price decreased more than the futures prices. Other than that, German accounting standards also compounded MGRM problems. Lower of Cost or Market (LCM) accounting is a standard required in Germany. While in the United States, MGRM undoubtedly met the requirements of a hedge and received hedge accounting. Therefore, profit was shown in MGRM financial statement. Their hedge losses were deferred because they offset the gains of their forward contract. However, MG was required to subscribe their current losses without recognizing the gains on their fixed-rate fo rward positions until they were realized by using LCM. MGs income statement was a failure since the German accounting standards did not allow for the netting of position.. This drastically changed the market arena for MGRM. Therefore, the swap counterparties required additional capital to maintain their swap positions and the NYMEX imposed more margin requirements on MGRM more than doubling their performance bond requirement. MGRMs positions may not have alarmed the marketplace and they might have been able to reduce their positions in the OTC market without getting their eyeballs pulled out if the hedge accounting had been acceptable in Germany. Hedging Alternative to Avoid Mishaps In this hedging activity did by Metallgesellschaft (MGRM), by guarantying their customers fix price for gasoline, heating oil and diesel fuel. This hedging had make MGRM expose to many different risk, price risk, credit risk and delivery risk. MGRM could use many different ways to hedge their position. These hedging strategies have pros and con as shown below. Alternative A MGRM can use lower hedge ratio, reducing the hedge ratio will minimize cash flow variance and increase the companys liquidity risk. It also takes into account on basis risk, use correlation of assets as hedge ratio. However, by using this strategy MGRMs dynamic adjustments could be expensive; this is because the transaction cost will eventually increase. Alternative B MGRM could hedge with short maturity forwards; this action will let the company to reduce basis risk because MGRM has long short term futures. This action also increases the companys liquidity in market. Alternative C The other option for MGRM to hedge is to include option as part of their hedging strategy. Company could always use option to limit their lost to make sure the risk they face is manageable. MRGM could long zero cost collar as part of their strategy. Zero cost collar is a type of positive-carry collar that secures a return through the purchase of a cap and sale of a floor.ÂÂ  Also called zero cost options or equity risk reversals. This could limit their downside lost. Besides, MGRM also can use long call option with similar maturity to protect themselves from exposing to too much risk. With call option, the company face limited downside and have give the company to realize unlimited profit. As show in the graph, x-axis shows the profit of the company and y-axis shows the price for the underlying asset (gasoline, heating oil and diesel fuel). Alternative D Furthermore, MGRM can transfer all the risk to a third party by selling off all the delivery contracts. By selling the delivery contracts, the company will obtain an origination fee that makes sure a certain profit. The cons from the action is the company has to give up most of the expected profits because not matter how much the contracts earn; the profit will be transfer to the third party. Besides, due to the complexity of the contract it will be hard to sell it. These contracts have non-transparency problem including counterparty risk, embedded option, long term maturity contracts, etc. Alternative E Another alternative is the company own physical storage of the underlying asset. The company can create a large network of storage facilities, having lots of inventory will help company to meet customers demand. But, this alternative is not practical, because it is nearly impossible to store oil for 10 years and it will be very expensive to pay the storage cost. These are the suggested alternative that MGRM could use. But the final decision will still based on the financial experts. They will analysis the current economic performance, inflation and etc to make their final decision. Lessons Learnt from Hedging: Metallgesellschafts near-collapse and experience with derivatives suggests some lessons. Value hedging and cash flow hedging is very important because a hedge with mismatched maturity can create to an enormous funding risks. Problems may occur when a hedging strategy is set up without a careful regard for the financing it may require. MGs strategy should make both of the cash flow patterns and its firms value a crucial part to consider or put it as the main concern. Besides that, another lesson learned is that the accounting and disclosure conventions must be appropriate. Conflicting and inappropriate accounting and disclosure conventions can create uncertainty about a firms hedging strategy and make it difficult for the firm to raise income when it needs to. The case of MG shows the dangers of treating derivatives positions differently from the assets or liabilities that the derivatives are being used to hedge. There should not be accounting reorganization of gains and losses o n derivatives positions used for hedging unless the gains and losses on the positions that are being hedged also are recognized. In additional, it is also very important that both senior managers and the board of directors of a firm should understand how a firm is using derivatives. They should understand the risks associated with it if they use derivatives as part of the hedging strategy. In other words, approval from the board is needed before the strategy is implemented. Senior managers should understand the firms exposure to changes in prices and to basis changes, and should be informed about potential funding needs. For the case of Metallgesellschaft, it is believe that its supervisory board did not fully understand the risks associated with MGRMs forward-contracting and associated hedging strategy or did not correctly evaluate these risks when approved the strategy. Metallgesellschaft also gave us a lesson about the important of boards and managers to acknowledge financi al and regulatory constraints. It is important for hedgers to foresee or expect and to manage funding needs. Financial institutions or the creditor banks play an important rule here. It needs to have the backing of financial institutions that understand and approve of the firms use of derivatives, and are willing to advance credit to fund margin outflows on derivatives positions. For the case of Metallgesellschaft, it is believe that they did not have such an understanding with its creditor banks. Another lesson we can learn from Metallgesellschaft is that cash is the crucial thing when in the time of distress or debacle. Metallgesellschafts delivery contracts were not liquid enough and facing difficulty to the extent of very low possibility to sell it off at a reasonable price. As the strategy was not able to finance by it ownself, Metallgesellschaft had to request bailout from investors and banks to settle its market debts and avoid bankruptcy. Other than that, complexity is another matter influence the risk management which will makes the risk management more difficult. Somehow, the implementation and analysis of Metallgesellschafts strategy was rather complex than the original strategy planned beforehand. The complexity of cash-out option ,delivery contracts and their enormous derivative positions had cause difficulty in evaluating its economic of oil trading. Complexity indirectly building obscurity and confusion resulting in vulnerability in business and difficulty in financing. Last but not least, the other lesson that can be learned is that a firm which established a huge position in market will never gets undetected. When a firm controlling such a large share of open interest, markets can become dysfunctional in two ways which is either the company can gain competitive advantage and to eliminate its competitors , if those participants remain stagnant and disorganized; or the company itself can be eliminated, if other market competitors begin to fulfill the role of counterparty and trade against the company in an organized manner. As Metallgesellschaft gigantic hedging position is transparent enough to alert the specialists in the oil markets, the specialists knew that Metallgesellschaft would have no choice but continue rollin. The specialist traders were waiting for the chance when Metallgesellschaft started to move a big position . Eventually, the lessons we can learned from the case of Metallgesellschaft include the importance of value hedging and cash flow hedging, the accounting and disclosure conventions must be appropriate, both senior managers and the board of directors of a firm should understand how a firm is using derivatives, the importance of boards and managers to acknowledge financial and regulatory constraints, cash is King when in the time of debacle, avoid complexity which affects risk management and a big position in the markets never goes undetected. Conclusion Although hedging is a good way to manage a firms exposure to risk, risk manager should be always be aware and be careful when performing hedging. As what had lead to MGRMs derivatives mishaps is they had overhedged , all the necessary information and data must be collected and carefully calculated and the right amount of the underlying assets needed to be hedged should be measured well planned beforehand. Besides that, Board of Directors and managers must understand the derivatives strategies and implication. As from the case of MGRM , it suggest that the Board might not fully understand the risk associated with the hedging strategy and did not evaluate the risk when approving them. So its critical that Boards and manager must understand the using of derivatives as hedging strategy and their potential risk and ramifications. In conclusion , hedging will be beneficial to firms as it can work as protection against price movements but it will works against you like what had happ ened to Metallgesellschaft if one does not carry out the hedge cautiously, so everything must be planned carefully and managers must be sensitive and knowledgeable about the risk of hedging and always aware of regulatory actions by the officials and potential consequences when establish a hedging position.

Timmers Definition of Law - 1201 Words

Timmer’s Definition of Crime â€Å"A definition of crime represents the legal conditions under which the state, as an instrument of an economically dominant class, exercises its power to punish.† I feel that the state maintains the capitalist order through laws. Primarily, control is done through the governing of consciousness of the population. The ruling class gives rise to their own ideology to protect themselves. Capitalism’s most subtle means of control is to try and manipulate the minds of the people. They try to dictate the future through the people’s thinking and overall living. This type of dictatorship is cultural, psychological, economic and political. When an existing order becomes threatened, the focus on crime rises.†¦show more content†¦E., Bridges, G. S., Weis, J. G. 2008). Punishment is based on deterrence and is aimed at providing the greatest happiness for all of society without harming oneself or others. During the Gr eat Depression rapid social change led to social disorganization that led to personal disorganization, which in turn lead to deviant and criminal behavior (Crutchfield, R. D. 2008). Social control was broken because of class differences, economic problems, cultural and ethnic issues. Crime rates can be reduced by states from necessary laws and solutions to social problems. Due to crimes many people have been killed, some have been harmed by other people. The states and the laws they are governed by are there to protect individuals from harm by other individuals. To the extent that states go to try and combat crime can, at times, be seen as going a bit too far in possessing the power that needs to be shown and enacted on when a person does commit a crime (Ãâ€"rmeci, Ozan 2011). There has to be order in our society, but to what extent, is a person’s dignity and integrity put at risk or harmed. â€Å"Under capitalist social relations, direct political force is not neces sary for the maintenance of economic exploitation: it is sufficient for the state as a force standing above society to guarantee that all members of society behave like owners of private property. However, the state must be a discrete, independent force, since it has to compel all members of society toShow MoreRelatedViolence Portrayed By The Media Essay1101 Words   |  5 Pagessurveys and publications to determine their findings. Although extensive research was conducted, the findings show that there is no long-term effect on young adults. This may be debated in years to come as social media is advancing so rapidly. In Timmer’s article, his research includes data dating back to 1934 when The Motion Picture Code had film restrictions such as crime and sex (29). Although these restrictions were not totally enforced, The Motion Picture Production Code was forced to take different

Christian Bale On God And Kings - 1559 Words

When we think of Israelites we typically think of Christian Bale on God and Kings or even the everyday Rabbi walking the streets of Gaza. In this paper I will tell a story of an African that was born in America in the city of Chicago. Leading 48 families to the Promised land of Dimona, Israel, free of sickness or disease, free of crime, and honoring the Father of Abraham, Isaac, and Jacob. Questions you might ask are who is Ben Ammi? Who are the Hebrew Isarelites? Who are the Jewish will be answered in this paper.†¦show more content†¦He soon began to attend meetings at the Congregation of Ethiopian Hebrews. The he was given a new name, one of Hebrew Origin, Ben Ammi Ben Israel for Rabbi Rueben. In the year 1966, Ben Ammi is said to have received a vision from the angel Gabriel (Daniel 8:16). In the vision Gabriel revealed to Ben Ammi that it was the hour for the descendants of the Biblical Israelites among African Americans, to return to the Promised Land and establish the long awaited Kingdom of God! Only a year later he led 350 African Americans from inner-city Chicago to the bush of Liberia, West Africa. In Liberia they felt almost at home because Liberia is a country that has quite the familiarity from African Americans seeking freedom from the States. Between 1817 and 1867 with the aid of American colonization society 13,000 American born Africans sailed back to Africa. So when Ben Ammi showed up the American born African felt right at home and so did the 350 followers. The only problem was they lived in the bush of West Africa not the colonized parts. The challenges of the West African wilderness substantial, Ben Ammi and the group while living in tents and thatched-roofed dwellings would face the searing heat, poisonous snakes, driver ants by the millions and a rainy season of monsoon magnitudes. In 1969, the first members of Ben Ammi group entered the Promised Land and laid the foundation for the Kingdom of Yah on earth. It was solely based on a government of men and women governed by

Core Elements of Business Process Management

Question: Discuss about the Six Core Elements Of Business Process Management? Answer: 1) Letter to the employees of the organization: To: All employees of the organization From: Human Resource Department Subject: Training details with Mark Roth Dear All, Through this letter, I want to attract the attention of all the employees regarding the training session that is to be conducted by Mary Roth. Mary Roth is Mark Roth, the trainer who failed in providing training to all the divisional vice-presidents. The time when he was giving the training, at that point of time he was undergoing through a huge mental pressure and hence was not in that stable mental state for providing excellent training sessions. The mental pressure was that the previous day before the training was held he told his parents, girlfriend and siblings about his plan for transgender transformation. Moreover at that time he was also undergoing some hormonal treatments for the surgery that was to be held after some months (Gilbert, 2015). Later after his surgery I heard about Mary Roth who was performing very well in the training session and also gained the same reputation and career growth. But this time, I can assure you that Mary Roth will conduct the training session interestingly and it will help the trainers well in the customer research project. This time I am confident enough with her training sessions as because she is no longer in any kind of personal or mental stress. Moreover I will also like to add that Mark is now Mary Roth and hence has long hair, wears make up and wear female dresses. I would like to request each one of the trainees to take the training session seriously and hence accept Mary Roth as she is. This will help in successful accomplishment of the training session. Warm Regards, HR department 2) While communicating this situation to the boss of the HR department it is necessary to keep in mind the discussion of the entire situation right from hiring Mark Roth to terminating him and then again hiring Mary Roth after some years for the same training session. The reason behind Mark Roths failure in delivering proper trainings session at that time was because of his mental pressure as he informed the news of transgender transformation to his parents , siblings and girlfriend. Rosemann Vom Brocke (2015) commented that this was an important issue in ones life and hence this therefore distracted Mark to some considerable extent. So due to the high mental and personal stress, Mark was unable to deliver the training properly. Moreover this also needed to be communicated to the employees of the organization since they already had faced the problem due to his bad training session. As opined by Cornelissen et al. (2015) Marks transformation change need to be informed to the trainers since this is essential to inform them about the bad training session that they faced in their previous training session. But later after the transformation took place he clients of Mark Roth informed that Mary Roth was working excellent and superior in her sessions and hence it seemed the transition went well (Harmon, Green Goodnight, 2015). References Rosemann, M., Vom Brocke, J. (2015). The Six Core Elements Of Business Process Management. InHandbook on Business Process Management 1(pp. 105-122). Springer Berlin Heidelberg. Cornelissen, J. P., Durand, R., Fiss, P. C., Lammers, J. C., Vaara, E. (2015). Putting Communication Front and Center in Institutional Theory and Analysis.Academy of Management Review,40(1), 10-27. Gilbert, S. J. (2015). The Silo Lives! Analyzing Coordination and Communication in Multiunit Companies.Leadership. Harmon, D. J., Green, S. E., Goodnight, G. T. (2015). A model of rhetorical legitimation: The structure of communication and cognition underlying institutional maintenance and change.Academy of Management Review,40(1), 76-95.