Wednesday, August 5, 2020
Desalination Challenges And Prospective , Study Case The United Arab
Desalination Challenges And Prospective , Study Case The United Arab Desalination: Challenges And Prospective , Study Case: The United Arab Emirates â" Thesis Example > Chapter 1:The Global Challenges of Desalination1.1 Fresh water stress: outlook of fresh water in the world The European Environment Agency (2016) defines freshwater stress as a measure of the strain that freshwater extraction for utility in diverse economic sectors puts on freshwater resources. On the other hand, the United Nations describes freshwater scarcity as a significant risk factor across all societies, as t contributes to extended systemic challenges like poor urban planning, extensive poverty, financial pressures on government institutions and structures and degradation of the environment. Cases of extreme water stress can lead to competition for the scarce water resources among users, and ultimately to a minimized water accessibility to downstream users, particularly during periods of drought or low water flow. A global outlook of the global freshwater situation by Few Resources (2016) reveals that only 2.5 percent of the entire water on the Earth surface is could be con sidered to be freshwater. Few Resources (2016) further reveals that a majority of the amount of amount of water is saline water, which is in the oceans. Some 30.1 percent of the 2.5 percent of the freshwater is groundwater found in aquifers. An additional 68.6% of the freshwater is from polar caps and glaciers, while a mere 1.3 percent of originates from rivers and lakes (See Figure 1) (Few Resources 2016). This implies that humans face significant freshwater scarcity, as they mostly rely on groundwater and surface water from rivers and lakes. Figure 1: Distribution of Earth's water (Few Resources 2016)In another study by Unesco (2015) of the distribution of water resources globally, it was concluded that runoff water and water from precipitation is unpredictable, as different regions of the earth receive diverse quantities of freshwater annually. Unesco further revealed that the increasing climate change was actually exacerbating the risks linked to the disparities in freshwater resource distribution and accessibility. Figure 2: Renewable water resources per capita in 2013 (UNESCO 2015). The increased water temperatures because of warmer climate that result from climate change and increased release of waste heat is also projected to reduce accessibility to freshwater by increased forms of water pollutions, including release of salts and pesticides, nutrients and dissolved sediments and thermal pollution. Greater focus has, therefore, been on groundwater as it has a significant function in diversifying freshwater supply. According to UNESCO (2015), of the overall global population, some 2.5 billion people are wholly dependent on groundwater resources for use. Despite this, there is a concern that the currently available groundwater resources are becoming increasingly depleted because of increased human population and their reduced rate of replenishment rates (El-Shamy Said 2014). The depletion rate of the groundwater is estimated to be at least 20 percent due to over-exploitation. This has led to severe implications, including intrusion into salt water and subsidence of land. There is a significant decline in the levels of groundwater globally. For instance, the withdrawal of freshwater in the Arabian Peninsula for instance is was approximated to be 505%, as a fraction of renewable water resources internally. Unesco (2015) also estimated that the overall quantity of groundwater footprint is nearly 3.5 times the size of aquifers, while some 1.7 billion people current reside in regions where they are at risk of freshwater scarcity because of depleted groundwater resources. On the other hand, some 80% of aquifers contain groundwater footprint estimated to be less than their regions. This implies that the net global value is depended on the few available yet immensely overused aquifers.
Saturday, May 23, 2020
A Comparison of George Orwells Totalitarian World of...
Orwells Totalitarian World of 1984 is America in 2004 Orwells allegorical critique of Stalinism in 1984 is often used in capitalist nations as a poignant literary attack on Communism and other collectivist economic and political systems. The argument often follows the lines of This is socialism, and as you can see, it doesnt work and just leads to oppression. Were in a nice capitalist democracy, therefore we are better off. But is that conclusion the truth? Orwell didnt just intend 1984 as an attack on communism or socialism; instead it is both an attack and a rather prophetic warning against any authoritarian structure, including the authoritarian structure of capitalist democracies. Often we do not equateâ⬠¦show more contentâ⬠¦The powerful get away with this through propaganda and bias in the media. The telescreens of America come in the forms of CNN or the New York Times. The corporate media touts the successes of democracy in foreign nations without saying how it was achieved (through U.S. military and economic interventions). It has reached the point where the powerful have set America into a perpetual state of doublethink, where our leaders say one thing but mean the other. To find examples of this doublethink, one needs only to look at the works of linguistics pioneer Noam Chomsky. For the last few decades, Chomsky has focused his work on the connections between language and politics. In his latest book, Profit Over People, Chomsky is forced to differentiate between democracy (as we think it is) and really-existing democratic theory (the counter-democratic system that actually exists). Most of the nations of Latin America and Southeast Asia are currently running under the really-existing democratic theory pushed on them by the USA, a system where real democracy is only allowed if it serves the business interests of America. Chomsky describes in depth this anti-democracy in many of his works such as What Uncle Sam Really Wants. The same problems exist with free trade. The media leads Americans to believe that free trade is a system with glorious benefits for everyone, in which all people are free to participateShow MoreRelatedGeorge Orwell s Brave New World1601 Words à |à 7 Pagesto predict what the future holds for our society. If one was to narrow their focus on the past century they would see the works and predictions of Aldous Huxley and George Orwell. Both Huxley and Orwell, as one could infer, composed novels that describe future societies and their inner workings. Aldous Huxley, author of Brave New World, where members of society originate from a lab and whoââ¬â¢s lives are pre-determined by the controllers. The controllers of Huxleyââ¬â¢s futuristic societyââ¬â¢s fundamental goalRead MoreOrganisational Theory230255 Words à |à 922 Pagesthought-provoking, witty and highly relevant for understanding contemporary organizational dilemmas. The book engages in an imaginative way with a wealth of organizational concepts and theories as well as provides insightful examples from the practical world of organizations. The authorsââ¬â¢ sound scholarship and transparent style of writing set the book apart, making it an ingenious read which invites reflexivity, criticalness and plurality of opinion from the audience. This is a book that will become a
Monday, May 11, 2020
President Roosevelt s Successor, Taft - 876 Words
Although William Howard Taft had been President Theodore Rooseveltââ¬â¢s handpicked successor, Taft soon proved to be incompetent in many foreign and domestic affairs. To many Americans, it quickly became evident that Taft did not share the same political viewpoints as his successor, Roosevelt, had. Compared to Roosevelt, Taft was not as energetic and ardent; his policies caused much controversy from the Republican Party and Roosevelt himself (Brinkley 606). In addition to Taftââ¬â¢s passivity towards Congress, his administration was significantly comprised of members who did not stress reform. This would lead to poor decisions regarding Progressive Era reforms (Bailey 697). Even though President Taft had a few international accomplishments and domestic achievements dealing with trust busting, his ineptitude in office led to the splitting of the Republican Party and the outrage of former president Roosevelt. President Taftââ¬â¢s foreign policy increased political interests i nternationally, and they quelled revolts in the Caribbean. ââ¬Å"Dollar diplomacyâ⬠, which referred to his approach to foreign affairs, established financial security in the Far East using the money earned by bankers on Wall Street. This would ââ¬Å"strengthen Americaââ¬â¢s defenses and foreign policies,â⬠, and it would prevent other European countries from interfering in South American affairs (Bailey 698). All in all, ââ¬Å"dollar diplomacyâ⬠was Taftââ¬â¢s generally successful way of secure foreign markets using American investments.Show MoreRelatedMr. Homeschooled As A Child Because Of Illness And Asthma1316 Words à |à 6 Pages1858 in New York, New York â⬠¢ Education: o Homeschooled as a child because of illness and asthma o Columbia Law School o Harvard University â⬠¢ Died on January 6, 1919 in Oyster Bay, New York Election Issues: â⬠¢ Became president September 14, 1901 after the assassination of President McKinley on September 6, 1901 â⬠¢ Needed Republican support to win nomination of 1904 â⬠¢ Worked out understanding with legislature â⬠¢ Used executive office to break up monopolies such as Northern Securities Company â⬠¢ UsedRead MoreChief Executive : The President Of The United States Forest Service1514 Words à |à 7 PagesChief Executive: As a chief executive the president has the power to Enforce laws, act as administrator of the federal bureaucracy, issue executive orders, and appoint and remove judges and other high ranking officials in the government. The first person to go was Chief of the United States Forest Service,Gifford Pinchot, due to a scandal involving U.S. Secretary of Interior, Richard Ballinger.Ballinger accused Roosevelt of using his power improperly by moving large tracts of public lands into reserveRead MoreRoosevelt And Roosevelt s President Essay1495 Words à |à 6 PagesThroughout the beginning of the 1900ââ¬â¢s, Roosevelt became immensely favored and adored by the majority of United States citizens. After Theodore Roosevelt served his terms of presidency from 1901-1909, he declared that he would not accept a renomination for another term. With being in control of the Republican Party and also becoming quite favored, Roosevelt was able to name who his successor would be. With having being s o popular and trustworthy, Roosevelt commanded the Republican Party to stayRead MoreObama Administration : Presidential Power1585 Words à |à 7 PagesIn the aftermath of the attacks on September 11th President Bush declared that we would, answer these attacks and rid the world of evil. For a mission that vast the president would have to have powers that matched and the Bush administration made some of the broadest assertions of Presidential power in history. Suddenly the President could launch wars at will, surveil Americans with impunity, and imprison or assassinate Americans at his discretion. These changes were accepted, as both parties,Read MoreTheodore Roosevelt s President Of The United States967 Words à |à 4 PagesTheodore Roosevelt became president after president McKinley was assassinated. Roosevelt was the 26th president of the United States from 1901-1909. Theodore Roosevelt was the youngest United States president in history. Theodore Roosevelt was one of the most p opular and important to ever serve in the Chief Executive Office. During Theodores Roosevelts time as president he accomplished many things while president. A couple of his accomplishments were created when he introduced the Square Deal. TheRead MoreThe Policies Of The United States During The Period912 Words à |à 4 Pageselection of Theodore Roosevelt in 1901 A foreign policy known as Big Stick diplomacy was implemented, in layman s terms this effectively means that the United States would use his show of force to ensure that is strategic for and objectives were accomplished in Latin America. the United States had a history starting with the Monroe Doctrine of a certain influence in Latin America; Roosevelt added a portion appropriately titled the Roosevelt Corollary in 1904. The Roosevelt Corollary representedRead MoreTheodore Roosevelt : A Young Boy Teddy976 Words à |à 4 Pagesââ¬Å"Teddyâ⬠Roosevelt Jr was born on October 27, 1858 in New York City. His parents were T heodore ââ¬Å"Theeâ⬠Roosevelt, Sr. and Martha Stewart Bulloch. He was the second born out of four children who included his older sister Anna, younger brother Elliott and younger sister named Corinne. Elliott was the father of the First Lady Anna Eleanor Roosevelt, wife of President Franklin Delano Roosevelt. As a young boy Teddy suffered from severe asthma, which had a huge impact on his body and health. Roosevelt was homeschooledRead MoreThe Progressive Era Of The Revolutionary Era1723 Words à |à 7 Pagesthe people. The direct primary now allowed citizens and voters to decide on a candidate within the political party. Progressivism was a grassroots development that permeated upward into a neighborhood, state, and national legislative issues. The lion s share of progressives was a working-class urban expert who needed to tackle the issues of American urban areas. One of the famous progressives with is Robert La Follette he was the governor Wisconsin he is credited with in troducing the direct primaryRead MoreTheodore Roosevelt And Woodrow Wilson861 Words à |à 4 PagesTheodore Roosevelt and Woodrow Wilson are two extraordinary leaders who symbolized the dreams and aspirations of the American people during a tumultuous time in U.S. history. Both men were well versed in foreign policy and held great leadership qualities with firm views for the future of our country. Roosevelt took office in 1901 following the assassination of President William McKinley, becoming the youngest president to date. He had a motto of speak softly but carry a big stick. President RooseveltRead MoreTheodore Roosevelt s The Progressive Era Essay1543 Words à |à 7 Pagespoor and downtrodden from corrupt capitalists, the Progressives commenced an era of sweeping reforms. From the outset, the Progressive movement targeted domestic issues such as political machines, monopolies, and factory regulations. While President Rooseveltââ¬âthe face of the Progressive movementââ¬â frequently became entangled in global affairs during his time in the Whitehouse, the focus of Progressives during this stage remained primarily on domestic concerns. It was not until after Rooseveltââ¬â¢s presidency
Wednesday, May 6, 2020
Liberalism in Zambian Governance Free Essays
Every country worldwide is ruled with certain rules and regulations which whether accepted or not by the preponderance, are still accepted as right. Thus, the aim of this essay is to elaborate on the various forms of liberalism, discuss on each of them, and explain while giving clear examples which one of them has been prominent in Zambia from 1991 to present day. It will begin by defining the main concepts; then the forms of liberalism shall be presented and discussed. We will write a custom essay sample on Liberalism in Zambian Governance or any similar topic only for you Order Now Thereafter an analysis of which form of liberalism has been pursued by the Movement for Multiparty democracy and the Patriotic Front in the ruling of the country of Zambia shall follow. A conclusion will then be drawn from the main body. Liberalism has been explained or defined in many ways. It comes from the word liberal, which implies freedom. Therefore if incorporated in the aspect of human life, liberalism means an ideology that advocates for gradual reform in the different aspects of a human life, for instance, social, political and economic aspects. According to Doyle (1986:2), ââ¬Å"liberal resembles a family portrait of principles and institutions, recognizable by certain characteristics, for example, individual freedom, political participation, private property, and equality of opportunity. â⬠From generation to generation, different forms of liberalism have emerged due to various reasons. Classical liberalism is said to be perhaps the oldest form of liberalism, which according to historians, emerged in the 16th, and 17th century though became prominent in the late 19th century. Some of the major pioneers of this type of liberalism were John Locke, David Ricardo and Adam Smith. Classical liberalism hence is said to uphold a French ideology laissez-faire which literally means ââ¬Å"to allow. â⬠When applied to classical liberalism it advocates for non-state participation in the affairs of its citizens, (www. cambridge. org). To sum it up, classical liberalism advocates for ââ¬Å"limited government, protection of personal freedoms, and free markets, they rely on rules of thumb derived from experience,â⬠the Policy (2009:15). Classical liberalism has been criticized heavily that it only benefits the few elite. This led to the emergence of Social liberalism in the mid 19th century. The word in the center of social liberalism is ââ¬Å"equityâ⬠. This is where each individual has equal opportunities in society and benefits equally from the economic activities of the state. There is common ownership of means of production and goods are produced not for private profit making but for the benefit of society. Thus, in summary, Social liberalism advocates for equal opportunity, for self realization by the citizens and improvement in social status of everyone with the state as the major player. It is said to be ââ¬Å"committed to individualism but includes protecting individuals from acts of omission as well as commission,â⬠the Policy (2009:16). Another type of liberalism is Political liberalism which focuses on the freedom of citizens in the participation of political activities without interference or hindrance by the state. This type of liberalism was mainly pioneered by John Harsanyi and John Rawls, (Policy, 2009). According to the Policy (2009:4), political liberalism emphasizes that ââ¬Å"everyone has an equal opportunity to hold political office and to influence the decisions made in the political sphere. Green liberalism is liberalism with a notion of sustainable growth. It focuses on preserving the environment even in the midst of growth. Steinberg (2012:1) emphasizes that ââ¬Å"green liberalism is the idea that market forces combined with individuals all doing their part can save the planet. â⬠Though supported by many, this type of liberalism has be en criticized that it is not logical in that for development through liberalism to occur, nature or primary goods are involved hence their exhaustion is inevitable. Neo-liberalism, another form of liberalism, is regarded as a re-introduction of liberalism. Various proponents and scholars have alluded that Neo-liberalism was first coined by the German economists who were trying to compare it with classical liberalism. Boas and Gans-Morse (2009), clearly state that neo-liberalism is both in rejection of laissez-faire policies and emphasizes on humanistic values. Neo-liberalism supports free market trade, private capitalism and private property while it reproves government intervention or interference. This type of liberalism is likened to classical liberalism though it ââ¬Å" goes even further than classical liberalism in that its ultimate goal is to create a world where political action is governed entirely by the free market, so that all decisions are unbiased and fair,â⬠(www. ehow. com). The Neo-liberal policies were and still are widely advocated by International Monetary Fund and World Bank, (struggle. ws). The policies advocated by Neo-liberalism have been criticized in that there is usually unequal distribution of development within a country. Privatization measures are said to benefit the foreigners more than the local people. Even though the IMF and World Bank emphasize that these measures would help improve the welfare of the vast majority, it has been argued that privatisation is characterised with corruption, trade is controlled by the super powers which has seen to the market being populated with cheap imported goods and hence discouraging local producers. These policies are said to only benefit the few elite, (Simutanyi, 2009). Zambia is a landlocked country in the southern part of Africa which after being colonized by the British, gained its independence in 1964. After independence the country had its first president Dr Kenneth Kaunda, leader of the United National Independence Party who according to scholars saw to the rise of autocracy in the country. Thus the country was turned into a one-party state where the state controlled a major part of the economy. Some of the characteristics of Kaundaââ¬â¢s rule include ââ¬Å"a system of terroristic police control; control of all means of effective mass communication, control of all means of effective armed combat,â⬠(Phiri: 2001,2). Since the main aim of the government was to ensure equity, therefore it can be right to say that during that time, Zambia was under Social liberalism, (Simutanyi, 2006). Due to the many shortcomings of the UNIP government for instance the food riots, foreign debt, economic decline and social disintegration, the Multi-Party Movement for Democracy which was headed by Fredrick Chiluba took over leadership and adopted the Neo-liberal policies. There was ââ¬Å"independent rational attitude, free expression and the promotion of private self-interest over general system,â⬠(www. ambiastruggle. com). Sorabjee and Bourne (1996:27), stated that when MMD was elected, there were major changes in the country such as ââ¬Å"privatisation or liquidation of state enterprises, the relaxing of import controls and of investment regulations and barriers, removal of subsidies and other protections, and freer regime in agriculture and manufacturing. â⬠These policies were ââ¬Å"implemented lar gely at the insistance of the International Monetary Fund (IMF) and the World Bank,â⬠House (1991:2). Since the economy was and still is mainly dependant on the mining sector, many mines were privatized so as they can be more productive and efficient. According to Simpere (2010:7) ââ¬Å"under the influence of its lenders especially the World Bank and following the election of a new government in 1991, Zambia decided to dismantle and privatize its mines. â⬠The mines were not the only state-owned enterprises privatized but many other companies, approximately two-hundred and sixty three (263) companies were taken over by foreigners. This happened between 1994 and 2004, which was predominantly during the reign of the MMD precisely Chiluba and Levy Mwanawasa, (Simutanyi,2006). There was also the liberalization of foreign exchange and import. ââ¬Å"Since late 1991, Zambia has fundamentally changed its trade and economic policy. The trade regime has been considerably liberalized and there has been substantial decentralization and deregulation in other spheres of economic activity,â⬠(www. wto. com). The dominance of neo-liberal economic programs in Zambia promised fast and sustainable economic growth, where Adam Smithââ¬â¢s invisible hand comes in play that the majority of the poor would benefit, (Zambian Economist, 2007). Thus the MMD fully adopted the Neo-liberal policies and the government enacted economic and political liberalism in the country. The Patriotic Front led by President Michael Sata is the current party in government in Zambia. It was elected into power in 2011 during the tripartite elections held in Zambia. It is not clear whether the state under the current government is undertaking a neo-liberal type of governance or a socialist. Some spectators have argued that due to the move of the Patriotic Front to join the Socialist International, the country seems to be heading into the direction of a socialist state, (www. zambia. com). Even though this is so, the Patriotic Front government has corrected the misunderstanding that they shall continue to advocate for socio-economic liberalism spearheaded by neo-liberal policies as was stated in their manifesto, (m. lusakatimes. om). Nothing much has, in reality changed during the past twelve months of the Patriotic Frontââ¬â¢s rule as compared to the twenty year rule of the MMD. Companies are still privatized, trade liberalism still exists, democracy still prevails and the existence of property rights exists as well. The country of Zambia still values the foreign investors and their relationship with other capitalist societies with whom they enjoy the benefits of trade liberalism. Therefore, neo-liberalism as proven above has been the dominant type of liberalism in Zambia from 1991 to present day. Even with the consequences of neo-liberalism such as increase in the poverty level, increased debt, uneven development, Zambia continues to boast of being one of the most liberalized states in Southern Africa. In conclusion, liberalism has been a major player in determining the role of the state in Zambia, hence among the many types of liberalism Neo-liberalism has been adopted by the country of Zambia to spear-head its development. What is not certain is, if it were not for the government being pressured by the IMF and the World Bank, would it have, on its own adopted the neo-liberal policies or it would have continued as a social state? How to cite Liberalism in Zambian Governance, Papers
Friday, May 1, 2020
Mergers in International Banking Industry
Question: Discuss about the Mergers in International Banking Industry. Answer: Introduction Merger is defined as the manner of acquisition of one company by another company by acquiring the majority of shares of latter company. It results into the continuance of the acquiring company and discontinuance of the acquired company. It means the acquiring company continues to exist and works as before whereas the existence of the acquired company comes to an end. The process of merger may involve one or more companies. Merger is regarded as the mode of investment and given as the name of Opportunity Synergy hypothesis. This hypothesis considers the merger as one form of investment wherein it is expected that the future benefits arising out of the merger will be more than the cost. These benefits are effected by two factor namely interest rates and the growth rate of the country. Mergers in the Inernational Banking Industry in the past Decade Over the last two decades beginning in 1980s, the mergers has gained very importance in every sectors whether it is manufacturing or trading or service. The first factor which has led to the need of merger is from United States of America. In the early eighties, the saving and loan institutions have been badly collapsed in United States of America along with the debt crisis prevailing in the Latin America which in turn has led to the process of consolidation among entities (Erel, 2011). This has further been extended with the substantial decline in the profitability in the early 1980s. The four sectors have plagued the banking industry which includes petroleum industry, agriculture sector, real estate and the countries which are then under the clause of developing countries (Alexandra and Ion, 2016). First acquisition has been made in the year 1981, where First American Bank Corporation acquires the City National Bank of Detroit. Almost 400 mergers have taken place every year since 1 980s. During the period from the year 1986 to 1992, many mergers have taken place for Bank America, Security pacific and Chemical Banks Manufacturers Hanover (Catorelli and Goldberg, 2011). The major shift towards the merger cross the border has been made because of intent of having reach to the customers located outside the domestic limits. This shift has received due importance because of the deregulation and privatization. Deregulation means and act which has now been removed from any regulation and rules and privatization means an act of removing the hold of government by providing the power to manage and control the affairs of the firm or company in the hands of the private body. Many deregulation moves have been welcomed by the world which has made the merger more popular. The major deregulation that has been enjoyed in almost all over the world is the removal of restriction imposed by law in expanding the reach and location of the bank globally (Carletti and Ongena 2016). For instance in Italy, to open the branches the regulations have been removed in the year 1990, European directive allows the bank located in particular European country to operate in any other European countries (Bonaccorsi and Gobbi, 2007) . The second reason is that Companies have gained many benefits from the mergers like reduction in cost, creation of synergies, increase in the customer base, increase in the size of the company and increase in the capital structure of the company. The wave that has bought mergers in the bank is from the rule of too big to fail. This rule has not only implemented by the authorities but also the larger banks are availing the full utilization. Its because the larger banks are least concerned with the loan outstanding from the small firm for whom they itself gives free insurance in case the same is not paid by the borrower. Its because of this reason that acquiring banks possess competitive advantage over the acquired banks. Factor Motivating Mergers Banking sector has also played role in the competition of merger (Scott and Dunkleberg, 2003). Along with the other companies engaged in different sectors, banking sector has also jumped into the crowd of merger and with this the first merger has been started in the United States of America and thereafter extended to European countries. There are many motives behind the mergers and acquisitions. One motive is that has been regarded as dominant motive is profit. The same motive has been described by European Central Bank. As per the plethora of searches, it has been observed that the cost benefit motive is mainly for the firms or banks operating in domestic sectors whereas the motive of having higher profit from economies is for international sectors (Hannan and Pilloff, 2009). Second major motive that is considered before going for merger proposal is to become big enough to capture the market (Cyre, 2010). It means that the acquired company wants to be one of the leading banks and its name shall prevail in the market over others. It is because of this reason the big banks acquire the small banks. Although by being a large bank in the market, sometimes the small bank captures the market very easily by providing more and more facilities to their customers which in turn will create competitor for the large banks. Keeping view of the above possibilities, large banks start the process of having merger with the small banks at an early stage and in this way captures the market very easily. Third motive of having the merger is that the process results in long run profitability of the target banks. This is mainly because of the fact that after acquisition all the lenders, their financial position as on date and financial performance over the year is reviewed and monitored on continuous basis and monitored effectively and efficiently. It in turn results into the reduction of the loans which have been due for repaid for longer period. Due to this, the process of extending loans to the fake companies or small firms which does not possess any credit worthiness will automatically decline gradually and thus increases the profitability ratio by reducing the quantum of bad loans in the loans of the bank. The merger also reduces the tax burden of the acquiring company which in turn increases the return on equity and provides the higher amount available for distribution to shareholders as dividend else ploughed back into the business. Factors for Choosing Good Merger Partner Before proceeding for any merger proposal, the leading bank or acquiring bank shall consider certain factors and shall obtain certain necessary information about the target or acquired company. Type of Services - First major factor that the acquiring bank shall consider is to know the detail of services being offered by the bank. Small bank sometimes provide services which is different to the large banks and which is not even provided by the large banks and also there are services which are provided by the large banks in better way than that of small banks. Its because many successful acquisitions have happened only due to the understanding of business of Target Company that has been made by the acquiring company before the acquisition. The understanding of the business develops the relation which helps in making the better negotiations. History - Second factor that the acquiring bank should consider is the history of the target bank and how long it has served the customers. Financial Position and Performance - Third factor which shall be considered is the Financial Statements of the target company. Financial statements include the Audited Balance Sheet as on date, Statement of Profit or Loss for the period, Cash Flow Statement and the Statement showing changes in equity. It shall be reviewed properly by the acquiring company. Its because from the financial statements, the company will be able to find out the financial position of the company as well as the financial performance over the period. Financial position includes determination of the short term and long term liquidity of the company. Short term liquidity means whether the bank will be able to repay the short term deposits made by customers or not and will be able to recover the short term loans granted to different borrowers. Long term liquidity means whether the bank will be able to repay all its liabilities in the near future and also will be able to recover the loans granted to various borro wers in the near future. For ascertaining the liquidity position the company shall have the calculated figures for the ratios like Current Assets ratio, Liquid Assets Ratio, Long term Solvency Ratio, Loan Ratio, Debt Equity ratio and Return on Equity Ratio, etc. Each of the ratios provides different parameters along with which the company can make decision as to whether to go with the merger proposal or not. For instance if current ratio is good and long term solvency ratio is verse then the acquiring company will have chance of having the better negotiations as it will create the grounds for the company to discuss more about why the target bank shall not be acquired at least price. Secondly, if loan ratio is good, then it will create the platform for the target company to put a call for best price from the acquiring company (Panetta and Shum, 2009). Apart from these negotiations, through these ratios, the acquiring company will have an insight of actual working of the company about their customer base, their capability of loan arrangement facilities including stock limits, their facilities and process for retaining the customers, their policies for attracting new customers. Customer base - Other factor that the bank shall consider is the reach of the target bank to its customers. It means whether the acquired bank is geographically located over the world and internationally. If the target bank is geographically located and the acquiring company has project which can enhance the operations if it operates from that part of the world then it will be favorable for the acquiring bank. Further if the objective of the acquiring bank is similar to the facility which is being operated from that part then it will add more benefit to the former. Further during the debt crisis in Latin America and sudden collapse of the banks in Europe and United States, the more focus has been placed on reaching the customers across the world due to which various legislation framework has been removed in order to ease the banking system and reach of the various banks to the customers (Jagtiani, 2008). Thus, the major factor is whether the target bank has strong data base and effic ient reach to customers. Economic Viability - The fifth factor which every acquiring company shall consider is the economic viability of the project. This study describes whether the merger proposal will reap benefits to the acquiring company or not. This study is performed by professionals and on the basis of their report the company makes decision as to whether the bank shall be acquired will all its liabilities and assets or not or some modifications are required like recovery of debts due from long time to be made before merger, payment of the due liabilities in time and before merger, etc. Performance of the Assets - The last major factor which the bank shall consider is the proportion of the Non Performing assets in relation to the Standard assets of the bank. Non Performing assets are the assets which are classified on the basis of the period of default made in the payment of deposits. If any bank have high composition of Non Performing Assets then there will be more chances for the acquiring company to make a deal at the lowest prices or it may also be possible that the acquiring bank may reject the proposal for merger as the high proportion of Non Performing Assets shows mismanagement of funds of the bank and in turn hits the true and fair view of the financial statements of the bank. Conclusion The need of having the banks of each country at each locations and each part of the world have led to the transformation in banking practices and banking norms. The merger has first started in United States of America and then applied by all the firms, companies and banks operating all over the world. Many factors have been discussed which have led the mergers in banking and other sectors. Also the factors have been discussed which shall be considered while going for any merger proposal. Thus, to conclude the study, the mergers in banking industry have created new platform upon where each and every customers can rely upon. References Bonaccorsi P and Gobbi G, (2007), Winners or Losers? The effects of Banking Consolidation on Corporate Borrowers, The Journal of Finance 62(2), 669-695. Carletti E and Ongena S, (2016), :The Impact on Merger Legislation on Bank Mergers, Swiss Finance Institute Research Paper, No. 16-33. Panetta F, Shivardi and M Shum, (2009), Do Mergers Improve Information? Evidence from the Loan Market, Journal of Money, Credit and Banking. Scott J and W C Dunkleberg, (2003), Bank Mergers and Small Firm Financing, Journal of Money, Credit and Banking. Erel I, (2011), The Effect of Bank Mergers on Loan Prices : Evidence from US, Review of Financial Studies. Alexandra and Ion, (2016), Mergers and Acquisitions in the Banking Sector during the Financial Crisis, available at https://seaopenresearch.eu/Journals/articles/SEA_11_31.pdf accessed on 09/01/2017 Jagtiani J, (2008), Understanding the effects of the Merger Boom on community bank, Federal Reserve Bank of Kansas City, Economic Review, Vol 93. Hannan T and Pilloff S, (2009), Acquisition Targets and Motives in the Banking Industry Journal of Money Credit and Banking, Vol. 41. Cyree K, (2010), Why do Bank acquires Value in Non Public bank mergers and acquisitions?,The Quarterly Review of Economics and Finance, Vol. 50. Cetorelli N and Goldberg L, (2011), Global Banks and International Shock Transmission :Evidence from the Crisis, IMF Economic Review, Vol. 59.
Saturday, March 21, 2020
Answer Why Does Elizabeth Want John to Go to Salem
Answer Why Does Elizabeth Want John to Go to Salem SAT / ACT Prep Online Guides and Tips Many readers have the same question about Act 2 of The Crucible:why does Elizabeth want John to go to Salem?This article provides both short and long answers to this question. It should help you to understand the reasoning behind her request, why it changes slightly over the course of the act, and how it connects to the lingering tension in their marriage. Why Is This Question Tricky? This question addresses an important but somewhat confusing aspect of the plot in Act 2. John and Elizabeth Proctor have several one-on-one conversations in this act that introduce the audience to the issues in their marriage that have arisen as a result of John's affair. Elizabeth asks John to go to Salem twice, changing her request slightly when she learns additional information about the court proceedings from Mary. Her first request is driven by an urgent concern for the others who have been accused, but her second request is an even more dire plea as she realizes that she herself is in danger from the trials. We'll look at what the different requests are and why Elizabeths makes them from both a practical and psychological standpoint. Short Answer Elizabeth initially wants John to go to Salem so he can testify that Abigail told him Bettyââ¬â¢s illness had nothing to do with witchcraft. When Elizabeth finds out from Mary that she was accused in court, however, she decides she wants John to speak with Abigail directly. She says he must tell Abigail that they will never enter into a romatic relationship again. Elizabeth hopes this will dissuade Abigail from making additional false accusations designed to remove her from the picture. Elizabeth's hope is that John will be willing to set the record straight, first on an official level and then on a personal level.This is the only way he can prove his loyalty to her over Abigail.As she says, ââ¬Å"I will be your only wife, or no wife at all!â⬠(pg. 59) For Elizabeth, this is about more than just protecting herself from accusations. It symbolizes John's renewed commitment to their marriage and the final nail in the coffin for his infatuation with Abigail. Long Answer Elizabeth Proctor first urges John Proctor to go to Salem so he can testify that Abigail and the other girls are frauds.John knows this to be a fact because when he and Abigail spoke alone in Act 1, Abigail scoffed at the suggestion that Bettyââ¬â¢s illness had anything to do with witchcraft. Hereââ¬â¢s the exact exchange between John and Abigail (on page 20): PROCTOR: The road past my house is a pilgrimage to Salem all morning. The townââ¬â¢s mumbling witchcraft. ABIGAIL: Oh, posh! We were dancinââ¬â¢ in the woods last night, and my uncle leaped in on us. She took fright, is all. John is hesitant to go into town and produce this evidence because heââ¬â¢s not sure he will be believed. Itââ¬â¢s his word against Abigail's. He says, ââ¬Å"If the girlââ¬â¢s a saint now, I think it is not so easy to prove sheââ¬â¢s fraud, and the town gone so silly. She told it to me in a room alone - I have no proof for itâ⬠(pg. 51). Elizabeth is frustrated because she believes that some of his reluctance really stems from the fact that he still has feelings for Abigail.She says, ââ¬Å"John, if it were not Abigail that you must go to hurt, would you falter now? I think notâ⬠(pg. 52).Her trust in him is shaken by the fact that he spoke with Abigail alone, a detail that he kept to himself until now.Elizabeth needs John to give his testimony discrediting Abigail to prove that he has moved on from her and his loyalties arenââ¬â¢t divided (and because itââ¬â¢s the honest thing to do). After Mary Warren reveals that Elizabeth was accused briefly during that dayââ¬â¢s trial, Elizabethââ¬â¢s request regarding Johnââ¬â¢s visit to Salem changes.She sees that the situation is more dire than they originally thought; her life may actually be in danger because of Abigailââ¬â¢s vendetta against her.She now wants John to go to Salem so he can speak with Abigail and tell her that the two of them will never end up together under any circumstances.She knows that Abigail wants her out of the picture so that she can take her place as Johnââ¬â¢s wife.If Abigail hears directly from John that this will never happen, she might be persuaded to give up her charade. Elizabeth urges, ââ¬Å"Whatever promise she may sense - break it, John, break itâ⬠(pg. 59). She understands that thehysteria surrounding the trials has grown to a point where addressing the root of the problem (Abigail) may be more effective than attempting to convince the court officials that the girls are lying. Also, if John speaks to Abigail himself, Abigail won't be able to mistake his intentions in the future. If he's willing to do this, it will prove to Elizabeth that he really is done with the affair psychologically as well as physically. The psychological wounds of John's affair run deeper than his romatically obtuse brain can comprehend. Summary: Why Does Elizabeth Want John to Go to Salem? Ok, let's recap the answer to this question with some snappy bullet points: Elizabeth originally wants John to go to Salem so he can tell the court that he knows the girls are lying. Then, when she finds out she was accused in court, she wants him to go to Salem to speak directly with Abigail. Elizabeth makes these requests with an eye towards correcting injustice and saving her own life. However, she also has a more emotional motive, which is to force John to show his loyalty to her and fully renounce his connection to Abigail. What's Next? Want more details about what exactly happens in Act 2 of The Crucible? Check out our full summary of Act 2, including key quotes and thematic analysis. We've also written in-depth analyses that focus on the main characters of the play. Read a complete breakdown of John Proctor's relationships, motivations, and personality traits. Looking for some good quotes to include in your essay for English class? We have a full list of the most important quotes in The Crucible along with explanations of their thematic relevance. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:
Thursday, March 5, 2020
$25 Gift Certificate Expires Today - Resumes, Cover Letters, LinkedIn Profiles, Professional Writing Help
$25 Gift Certificate Expires Today - Resumes, Cover Letters, LinkedIn Profiles, Professional Writing Help Thank you to all who took advantage of The Essay Experts $25 holiday gift certificate. Just yesterday one of my past clients, who obtained his dream job, gave his sister a resume as a belated Christmas present. Theres still time to give yourself or a loved one the gift of a resume, LinkedIn profile update, or other writing help with a $25 gift certificate from The Essay Expert.Ã This offer officially expires today, January 8, 2011.Ã For my blog subscribers ONLY, I am extending the offer to January 11, 2011 (1/11/11 an auspicious date!) Now is the time to contact The Essay Expert! May your New Year be fulfilling and prosperous.Ã I look forward to hearing from you.
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