Diversification in a porfolio Research Paper Example | Topics and Well Written Essays - 2500 words

Diversification in a porfolio - Research Paper Example Graham (2010) observes that the risks of an investment are reduced to between 80-90% through diversification of portfolios. However, there have been questions as to whether portfolio diversification is the best way to increase returns of an investment and to yield higher returns. Some studies have shown that portfolio diversification only reduces non market risks when the diversification is done up to a certain degree. According to Hagin (2004), even though portfolio diversification reduces non market risks and increases the returns of an investment, the rule of diminishing returns usually applies at a very early stage of the investment. This paper therefore tries to answer the question as to whether diversification of portfolios with aggressive and defensive risks profiles the best way to invest. In order to answer the main question of the paper, the paper reviews the various aspects or factors that are involved in an investment and determines how they correlate with diversification and returns. Portfolio can be broadly defined as a collection of various financial assets that are owned and managed by an individual investor or a group. According to Hagin (2004), portfolio refers to combination of different investments assets that are mixed with the aim or purpose of achieving the goals of an investor or a group of investors in any given market and region. Some of the financial assets include equities, liquid assets, fixed income instruments, bonds as well as cash. The kind of portfolio an investor chooses strongly determines the risks and returns associated with that particular investment. Diversification of portfolios on the other hand refers to an investment strategy that involves mixing of various assets in order to reduce the risks of an investment portfolio. This is through the spreading out of the risks that are associated with each investment assets to ensure that when a financial crisis occurs or affects one asset, the other

Film Theory Outline Essay Example for Free

Film Theory Outline Essay From the very beginning of film, theorists have tried to dissect or understand the nature of the new medium of art. As a result various theories of film have emerged, such as feminist, auteur, psychoanalytical, Marxist, Editing and Structuralist. This essay attempts to give an outline of these various theories. One of the first theories to emerge is Editing theory, coming from the context of early Russian cinema. A key event in this regard is the experiment carried out by the film-maker Lev Kuleshov in 1918, in which he demonstrated that what the viewer perceives depends on how images are juxtaposed with each other through inter-cutting. See more: essay apa format Thus, when a human close-up is juxtaposed with a bowl of soup, the perception is of hunger, but when juxtaposed with a shot of a coffin the same close-up is perceived to express grief. Kuleshov concluded that juxtaposition was crucial towards the effect, and thus advocated the use montage in film-making. Other film-makers like Sergei Eisenstein played close attention to these findings, and made use of them in his masterpieces of montage, such as Battleship Potemkin and October. He also spelled out a comprehensive film theory based on editing in a highly influential essay from the late twenties. In it he outlined he various categories of editing, such as metric, rhythmic, tonal, overtonal, and intellectual. For example, with intellectual montage a scene may be inter-cut with something immediately unrelated, but which nevertheless works as metaphor is a more profound sense. The above came to constitute soviet montage theory, which was in contrast to the Hollywood system of continuity editing. Montage is a very visible component of film, whereas continuity editing aims to make inter-cutting invisible, so that the viewer may concentrate on the flow of the narrative in an easy way. Since the fifties a parallel theory of editing has emerged in the West which embodies the Hollywood ethos. In the same essay Eisenstein proposed a Hegelian interpretation of film montage, and which came to form the basis of Marxist film theory. He suggested that montage worked by the principle of the Hegelian dialectic, where thesis is said to beget antithesis, and are resolved in the end through synthesis. For example, when human close up is inter-cut with a glass of water, the viewer interprets this as thirst. If the face is the subject, then its antithesis is the object of vision, i. e. the glass of water. ‘Thirst’ is merely the synthesis of the two. It is present in neither of the two shots in consideration, yet emerges form the inter-cutting of the two. Of course, it was through the Hegelian dialectic that Marx had derived his famous concept of the proletariat revolution, and Marxism was the avowed principle of the Bolshevists. Therefore, it is not surprising that Eisenstein’s theories found a favorable audience in the Soviet Union. Indeed, it was instrumental in forming of Socialist realism, which became the state sponsored ideology in art. Marxist film theory soon found itself as defined in opposition to capitalistic and bourgeoisie art, in which the narrative of the protagonist finds prominence. Eisenstein’s films attempt to obliterate the presence of the protagonist, concentrating instead on the clash of images towards creating a larger ideological narrative. Even then he was accused by the authorities for not championing the workers, and for indulging in the internal mechanics of film, which was deemed to be a kind of formalism. Marxist theory held that the purpose of art is to overcome all ‘forms’ towards dialectical purification. Formalism was felt to be a bourgeoisie component. Marxist theory, as it has flourished both in the East and the West, concerns itself with dissecting films in order discredit bourgeoisie forms, usually those emerging from the Hollywood system. A native western theory of film was late in developing, and a crucial starting point was the theories developed by Andre Bazin, as editor of the French film magazine Cahiers du cinema. Up to that point films were seen as merely commercial vehicles, and Hollywood had evolved into a mighty and well groomed machine that churned films for the pleasure of the masses. Analyzing these films Bazin came to the conclusion that it was the director who left the most characteristic stamp, and as illustration he held up the work of directors like Alfred Hitchcock and Howard Hawks. He advocated that directors infuse their personal vision into the films under their charge, in order that they become the complete authors, which is the ideal state. This came to be known as the Auteur theory of film, which was given a more formal presentation by Francois Truffaut. Directors were described as using the camera as a pen towards composing their films. Another significant idea of Bazin’s was that film should aim for â€Å"objective reality†. This was in opposition to prevalent theory based on montage, which said that object of film is to manipulate reality. This instrumental approach led to the formulation of Structuralist film theory, which examines the structure of the components of film as they come together meaningfully. Instead of the dialectical approach of Eisenstein, the analysis takes into account conventional devices that have come to acquire meaning. The components that come into play are camera angle, lighting, juxtaposition, shot duration, cultural context etc. Meaning is usually accounted for by convention, and conventions change according to social and economic circumstances. For example, the highly commercial nature of Hollywood films has created the Institutional Mode of Representation, in which cinematic devices are used that make film viewing easy and exciting. For this reason it incorporates the established ideology with little departure from the norm. Other interpretations overlook the mechanics of production and instead considered the viewer as the focus of study. Psychoanalytic film theory offers such an interpretation. It is largely influenced by the views of the French philosopher Jacques Lacan regarding the child’s ‘mirror stage of development’. According to this theory the developing child endeavors to see a reflection of itself in all the objects it encounters. Psychoanalytic film theory replicates this situation with the viewer of film. The viewer is always looking for self-identification in the process of watching a film, and in this sense uses the medium as a mirror. It is usually the male protagonist who provides the focus of this identification, and functions as a conduit by which the desires of the viewer are played out. The film is said to have constructed a ‘gaze’ for the benefit of the viewer. Sometimes the gaze is simply the viewpoint of the protagonist; at other times, in the more graphic sequences, the viewer is allowed to gaze directly. Psychoanalytic theory is careful to point out that such identification is merely illusion, and therefore it differs from the identification of the child growing up, whose identifications come to form tangible character. Feminist film theory takes psychoanalytical theory a step further, in that it interprets the gaze as scopophilia, or ‘the desire to observe in secret’, which is also known as voyeurism. Such desire is sexual in origin, and feminist theory is framed in the context of the man wanted to gaze at the woman. Such a theory provides a ready explanation of the objectification of woman in film, a phenomena that has been noticed from the very beginnings of the medium. As in psychoanalytical theory, the male protagonist provides the focus of identification, but his specific desire is to objectify the women in the film, a desire which is vicariously shared by the viewer. There are three levels of objectification. First there is the camera’s point of view, then that of the protagonist, and finally that of the viewer himself, who is allowed to gaze at the women directly. Critics of this theory point out that the female viewer is not taken into account, for women also go to see the same films, and they enjoy them too. However Laura Mulvey has given convincing arguments to explain female enjoyment. She says that it is either through a masochistic identification, or a transsexual one. In the first the female takes secret pleasure in male domination. In the second, the female identifies with the male protagonist, and thus shares in the pleasure that men take. However, she is also continuously slipping back into her female identity, which is said to be a mask that she wears. Identification with the male pushes her uncomfortably close to the image of the subjected women, and the masquerade allows her to maintain a distance from it. Feminist film theory is a harsh criticism of the norms of cinema, which is also blamed on the patriarchal norms of society. The advocacy is to make films that overcome the norms, and therefore to make films that are free from female objectification.

The Rise and Fall of Country Music Essay -- Music, Robert Johnson

Is country music still country music? Country music has roots unlike any other genre of American music. Country music was one of the most influential styles of music in the twentieth century. It had stars such as Hank Williams and Johnny Cash. These stars represented what the South felt. They understood shotgun weddings, not knowing where the next meal would come from, and fearing the wrath of God while simultaneously loving the sweet and instant satisfaction that sin brings. They took those pains and painted beautiful, harsh, and most importantly real portraits of life. The majority of today’s country music, the country that is played on mainstream radio, has lost its serious feel and replaced it with a more laid back sound—which at times makes it hard to hear the difference between a rock song and a country song—and it has left behind authenticity for its Nashville sound and pursuit of money and popular appeal. Country music branches off into many sub-genres. You have the blues of Robert Johnson, the more pure country music of Williams and Cash, and the southern rock of Lyndyrd Skynyrd and The Drive-By Truckers. What is the difference between this music and the music played on the radio today? Dana Jennings, the author of Sing Me Back Home and a self-proclaimed country music lover opens his book describing authentic country music like this: â€Å"Country music is the backfire of a rattletrap pickup truck creaking down a dirt road and the lowing of a lone cow. It’s music for scouring junkyards, setting out to the porch, and shooting horseshoes†¦its TB, orphan music, and outhouse music. It’s potato sack dresses, loyal three-legged dogs, and water lugged from the well† (Jennings 1). This is the type of music played on the radio fifty ... ...hen I had it/ now it is gone I’m learning what that is†. This is the story of hating a nine to five job but realizing life is not easy by any stretch of the imagination. It is real. Good country music is still being made, just not for the radio. Trampled by Turtles, Avett Brothers, Bill Mallonee, and Drive-By Truckers are all consistently putting out great country albums. There are plenty more artists like them, putting out songs not just to make a buck, but also to express their pains and struggles, songs you can relate to and songs with feeling. It makes it that much more special finding a good country band. Sooner or later, Nashville will pay for her sins. But until then, listening to Southern Rock Opera will teach you ten times more about human frailty and the daily struggles of ordinary people than listening to a hundred hours of a country radio station.

Corporate Governance Benchmarking

Running head: CORPORATE GOVERNANCE BENCHMARKING Corporate Governance Benchmarking University of Phoenix Corporate Governance MMPBL 570 November 30, 2009 Corporate Governance Benchmarking McBride Financial Services Inc. is a low cost mortgage provider located in Boise, Idaho, Montana, Wyoming, as well as North and South Dakota. Recently, Beltway Investments became the majority investor in McBride Financial Services, Inc. As a result, McBride’s CEO needs the board of directors’ collaboration while setting up internal governance controls and ensuring proper auditing. To secure that corporate governance benefits the company and investors, McBride’s CEO needs to consider benchmarking. Thus, the authors of this paper examine the benchmarking of Adelphia Communications, Tyco, Calpine Corporation, and Tyson Foods to help develop best practices for McBride Financial Services, Inc. Accordingly, Chew and Gillan (2005) state, â€Å"The role of top management is no longer just control and coordination; it is anticipating, leading, and managing change and articulating the rationale for such change to employees† (p. ). Hence, the lack of corporate governance could not be demonstrated better than the rise and fall of Adelphia Communications. Adelphia Communications was at one time the fifth largest cable provider in the United States. The company was controlled by John Rigas, the founder of Adelphia, and his family; they controlled 60 percent of the total voting shares. The family considered Adelphia funds their own personal funds and spent them lavishly on everything from airplanes to professional sports teams. When all was finally revealed, the Rigas family received $3. 4 billion in loans from Adelphia. The company eventually filed for bankruptcy and was split up in a buyout by Time Warner Cable and Comcast (Comcast, 2006). McBride Financial Services, Inc. (MFSI) is a small company controlled by McBride, the CEO. He is looking to move to the next level, like Adelphia. MFSI has recently formed a partnership with Beltway Investments to allow growth into a regional financial services provider and form a board of directors. It is not a partnership. It is a corporation and owned by Hugh and Beltway. They are not partners which is a different legal form of business. The company needs to embrace the board of directors as an independent oversight committee and not as rubber stamp committee, yet this is the initial direction the CEO wants the board to take (University of Phoenix, 2009). Adelphia Communications failed because the board was part of the corruption and independent from the daily operations of the company. The CEO needs to also allow an external accounting firm to conduct regular audits, regardless of the results, of the company to ensure the corruption of Adelphia is not duplicated because â€Å"The way boards are structured, meeting every other month, they have to rely on outside advisers† (Patsuris, 2002). Another situation to consider is the decline of the stock prices for Tyco, turning out to be quite detrimental because of the same actions of Kozlowski, the former CEO; he failed to lead the company affectively. Kozlowski was found guilty of using company funds for his personal expenses (Cummins, 2006). Even though he was found guilty, the company’s image is still flawed and questioned, the same as the value of company stock prices. Nevertheless, Eric Pillmore is in the process of reclaiming the company’s image by reconstructing and communicating a well built ethical atmosphere. Pillmore may be strict and enforce control to help the company; perhaps if the control had been maintained through corporate governance in the past, and if employees had been at ease in bringing issues to the fore front, Kozlowski would not have been able to send the company into the tailspin it has experienced (Cummins, 2006). MFSI can learn valuable lessons from Tyco; in conjunction with legal action and a marred company because of inadequate corporate governance, Tyco has made strides in changing its business environment. Tyco has managed to make improvements, from restructuring the company ethics statement, to meeting each employee personally, supplying them with a company ethics statement, and publishing a quarterly report on any problems employees brought to the company’s attention, and compiling the findings and disciplinary actions (Cummins, 2006, para. 3). Pillmore may be strict and controlling but he has turned Tyco around by improving employee behavior, creating a trustful environment and communicating with Tyco employees. MFSI’s CEO needs to consider such changes as Tyco has implemented, to be in compliance with federal guidelines, build trusting relationships with his employees and change the tone of MFSI’s corporate culture by adhering to a new corporate governance plan. Basically, in critiquing and analyzing the roles of the key leaders of corporate governance to assess the function of ethics in compliance, key concepts and the best practices of Calpine Corporation have also been considered to help MFSI. According to Chew and Gillan (2005), â€Å"During the past decade many CEOs of large companies have become highly visible public figures,† and while MFSI is still evolving, pressure to act appropriately exists (p. 1). This visibility increases accountability for leaders’ corporate governance. In the case of MFSI, the CEO is faced with critical decision making. MFSI’s CEO’s corporate governance has the potential of creating undesirable outcomes. However, to help MFSI, the best practices of Calpine demonstrate how decision making can be executed through the code of conduct guidelines. Calpine is a successful company that despite its business strategies, it was challenged with uncontrollable environmental forces. In 1998, Calpine experienced the effects of deregulation; yet leadership followed the company’s good corporate governance to address the issue. Hence, in comparing MFSI with Calpine, it is noted that Calpine’s leadership is committed to act with integrity and transparency while MFSI’s CEO is behaving unethically by disregarding the board of directors’ and shareholders’ input. Chew and Gillan (2005) declare, â€Å"The performance of companies, good or bad, is often attributed—not only by the press, but by the directors and shareholders of the companies—to the CEO’s personal business savvy and leadership† (p. 2). Therefore, in providing MFSI with good corporate governance best practices, Tyson Foods is also considered. Tyson is a company from which MFSI can learn. MFSI’s CEO wants to control the board of directors. He tells them not to worry about doing any work or meeting more than a few times a year; â€Å"I will handle the real work,† exclaims the CEO (University of Phoenix, 2009). Tyson entered into a settlement agreement that not only cost them a considerable amount of money but also required them to practice proper corporate governance. By trying to control the board of directors, and by not offering incentive compensation and stock options, MFSI’s CEO may soon find that investors do not appreciate his self serving financial gain at the cost of their right to a good return n investment. MFSI’s CEO must take seriously, as Tyson now takes seriously, the need to allow the board of directors to be active in the business of the company and to carry out their duty to protect shareholders’ interests (Friedlander, 2008). Also, MFSI’s CEO must set up proper audit procedures, using an impartial outside aud itor while setting up internal controls. MFSI’s CEO needs to understand that corporate governance procedures are not only for his benefit but also for every investor’s welfare. The CEO needs to include others in the decision making, helping to enhance every stakeholder’s benefits. By creating transparency in their procedures and corporate governance, MFSI can help encourage the board of directors to work collaboratively to provide a good return to investors while creating long term gains that will keep the company running strong. If MFSI’s CEO continues to try to circumvent the company’s processes and make the board of directors a powerless figurehead, his investors might soon become disgruntled and take their investments elsewhere. Conclusion Maintaining state and federal guidelines and staying within the company’s code of conduct can be challenging. Thus, top leaders need to delineate the roles of each person in charge of decision making and correct any incompatible behaviors contrary to good corporate governance. In the case of McBride Financial Services, Inc. , for instance, corporate governance was identified as incongruent with the overall ethical code of conduct and responsibility of top leadership. While the best practices of the companies mentioned in this paper offer fundamental principles to executing decision making in managing the interests of stakeholders, it is also critical to adhere to all Federal ethical guidelines to help mitigate any potential undesired outcomes. Synopsis of Adelphia Communication by Michael Gillespie Issue in the Scenario that is facing the company Adelphia Communications was a publicly held company owned mostly by the founder John Rigas and his family. Adelphia had a board of directors the consisted of nine people, five of them appointed by the Rigas. Over a five year period of time the Rigas family â€Å"loaned† $3. 1 billion dollars from Adelphia. This was $800 million more than what was initially reported during an SEC investigation (Patsuris, 2002). These â€Å"loans† financed everything rom real estate ventures, airplanes, country club memberships, and operating the Buffalo Sabres hockey team. The Board of Directors fired the auditor of the company, Deloitte & Touche, when they began to question some inconsistencies found during an audit (Farrell, 2002). Ironically, Adelphia sued Deloitte & Touche for incompetence. If Adelphia’s board of directors had been independent, the board would have had to r ely on reports from management, external auditors and consultants, in order to determine the company’s status. Unfortunately, Adelphia’s board was so packed with insiders it was hardly in this position. Company response to the issue Soon after the termination of Deloitte, PriceWaterhouseCoopers was selected as the new auditor for Adelphia. The first step for PWC was to re-audit previous year’s financial statements. Two weeks after the hiring of PWC, Adelphia filed for Chapter 11 Bankruptcy protection and was able to secure $1. 5 billion in debt to continue operating. The company hired a new board of directors. To fill these positions the firm went outside the Adelphia umbrella and searched for ethical industry veterans to become board members. John Rigas was sentenced to 12 years in prison and his sons were sentenced to 17 years. Outcomes from the company’s response Adelphia Communications was never able to recover from the lack of corporate governance and the corrupt management of the company. In 2006, Time Warner Cable and Comcast Cable purchased Adelphia for $12. 7 billion in cash and stock options (Comcast, 2006). This deal took over 40 months to complete due to fraud and security investigations and the fact that Adelphia was operating under bankruptcy protection. Synopsis of Tyco by Colleen Holdahl Issue in the Scenario that is facing the company Tyco faced major legal issues in 2002 and was responsible to pay a â€Å"$50 million fine to settle claims that it inflated profits from 1996 through 2002† (Cummins, 2006, para. 3). Dennis Kozlowski, the company’s CEO, was found guilty of embezzling funds to such extravagance as reporting he purchased â€Å"a $6,000 shower curtain† (Cummins, 2006, para. 2) and hosting a â€Å"$2 million birthday party for his wife† (Cummins, 2006, para. 2). With all the turbulence Tyco has gone through, the present leadership is making progress to clean-up the company’s reputation. Eric Pillmore, the current senior vice president of corporate governance, has been the leader of the clean-up. Outcomes from the company’s response Pillmore started ‘cleaning-up’ Tyco by implementing a new corporate governance plan; starting with the replacement of the previous board of directors, developing, and forming a new ethics code. The newly implemented governance plan â€Å"first principle calls for strong leaders who see themselves as stewards of the company and mentors for its future leaders† (Cummins, 2006, para. 9). Pillmore is of the conclusion that some of the former leaders have more concern with their own self significance; seeing themselves as ‘wheeler dealers,’ instead of being responsible and looking out for the best interests of the company. Pillmore also believes one of the most critical functions of his job as chief financial officer is to monitor the finances and act as a mentor to everyone in the company (Cummins, 2006). Among Pillmore’s other philosophies is ‘a web of accountability’ and ‘a robust process to understand why people behave the way they do’. He believes every employee has something to contribute to maintain an ethical business environment and leaders should not be intimidating. Employees should be free to approach their company leaders on ethics and company values issues. Outcomes from the company’s response Eric Pillmore takes the time to meet each employee, supplying them with the company’s ethics statement, and to discuss concerns or issues they may encounter. Tyco â€Å"publishes a quarterly report on any problems employees brought to the company’s attention, then the company’s findings and any disciplinary action- leaving out all employees’ names† (Cummins, 2006, para. 3). After the turbulence and with the help of Pillmore, Tyco has turned around and once again has a positive company image and the stock has recovered most of its value. Tyco received a rating by the Governance Metrics International as â€Å"one of the most improved companies globally; on a scale of one to te n, Tyco rose from a 1. 5 at the end of 2002 to 8. 5† (Cummins, 2006, para. 13). Synopsis of Calpine Corporation by Marisela Jimenez Issue in the Scenario that is facing the company Calpine Corporation is a successful independent power company that has strived to improve its business operations to help it advance its mission, values, and vision. While Calpine has managed to sustain its record high profits, the company, nevertheless, has faced changes in the business environment, particularly in deregulation. In 1998, a national movement, led by state legislation across the country, passed a U. S. Congress bill to accelerate and spread nationwide electric deregulation (FindingUniverse, 2009). This issue affected Calpine’s overall business functioning. Company response to the issue However, Calpine responded to the issue by focusing on the opportunities presented by deregulation. In other words, â€Å"The company’s foundation as a service provider to power plant operators and its subsequent development into a power plant operator itself engendered a vertically integrated enterprise primed for the new competitive era† (FundingUniverse, 2009). Calpine synergized its operations and focused on developing systems to maximize resources by improving conceptual designs, financing, construction, operation, fuel management, and power marketing. Through the synergistic approach to the business of producing electricity, Calpine managed to remain competitive in the market by strategically preserving profits without cutting the highly aggressive rates. The changes in deregulation helped Calpine’s leadership take immediate action by addressing the uncontrollable forces affecting the company. Leadership realized the potential for deregulation and its implications in the company; therefore, when Congress passed the deregulation bill, Calpine’s leadership was competently prepared. Outcomes from the company’s response Calpine’s outcome of the company’s response to the issue helped expedite the acquisition of 46 gas-fired turbines produced by Siemens Westinghouse. This acquisition radically enhanced Calpine’s market presence; leadership identified the opportunity of expansion as a result of deregulation. Basically, â€Å"The combination of Calpine management’s intuitive powers in foreseeing a growing demand for capacity and its willingness to gamble heavily paid handsome dividends,† enabling Calpine to grow into a successful company (FundingUniverse, 2009). Calpine’s leadership, however, ensures that their commitment to good corporate governance adheres to the highest ethical standards; thus, leadership behaves with integrity and transparency while maintaining strong levels of communication with stakeholders, including the board of directors, employees, and the community. Calpine’s leadership decision making is guided by the company’s code of conduct, helping to discourage any illegal and unethical behavior (Calpine, 2009). Synopsis of Tyson Foods by Carole Kindt Issue in the Scenario that is facing the company Over the years Tyson Foods has handled controversial issues concerning their business practices. They have been questioned over their ties to former President Clinton, unsanitary and dangerous conditions in their plants, plants staffed by low-paid workers, and even questionable campaign contributions (Unknown 1, 2009). In 2008, Tyson entered into a settlement with its investors over questionable practices in a case that named Don Tyson, members of his family, and the Board of Directors. The case alleged misconduct in connection with related party transactions and granting stock options to officers and directors of Tyson (Chase, 2008). The settlement agreement approved by the judge in the case ordered Tyson to pay $4. 5 million to their largest shareholders and forced improvements to Tyson’s corporate governance policies (Chase, 2008). As part of the settlement agreement, Tyson agreed not to engage in any new related party transactions without the approval of the Board and also to hire a consultant to evaluate its internal audit and control processes (Chase, 2008). Company response to the issue Tyson’s Board of Directors immediately began fulfilling the terms of the settlement agreement and they have worked to create a strong corporate governance structure. In 2008, the Board appointed a lead independent director and a new chairman of its compensation committee as well as establishing a nominating committee (Unknown 2, 2008). By focusing on their internal controls and corporate governance, Tyson’s board of directors has returned to their fundamental task, to work in good faith to assure they are upholding their fiduciary duties to the stockholders. Outcomes from the company’s response Tyson’s board of directors received a wake-up call that shook them out of their lassitude and encouraged them to make changes that enhance the long term goals of Tyson Foods as well as the return for their investors (Friedlander, 2008). In this way, Tyson will rebuild its reputation and trust with investors as well as fulfill the company’s long-term goals. By creating committees made up of independent, non-biased members, Tyson will create the transparency necessary to rebuild investor trust and build their company for the future. Good choice of companies and relating some of the take-a-ways to McB. Paper easy to read and follow but you could have worked the lesson into McB in more detail. Grade 96 References Calpine. (2009). Corporate Governance. [Online]. Available: http://www. calpine. com/ About/oc_corpgov. asp (2009, November 25). (Chase R 2008 Judge Approves $4. 5M Settlement Against Tyson Foods Directors. )Chase, R. (2008). Judge Approves $4. 5M Settlement Against Tyson Foods Directors. CNA Insurance Journal. Retrieved from http://www. insurancejournal. com /news/national /2008. thm? print=1 database. Chew, D. H. , Gillan, S. L. (2005). Corporate Governance at the Crossroads: A book of readings. 1 ed. ). New York: The McGraw-Hill Companies, Inc. Comcast Press Release. (2006). Comcast and Time Warner Complete Adelphia Acquisitions. July 31, 2006. Retrieved on November 26, 2009 from http://www. comcast. com/About/PressRelease/PressReleaseDetail. ashx? PRID=55. ComcaCCummins, H. J. (2006). Tyco exec makes the rounds spreading the word on corporate ethics. Star Tribune, p. 1D . Retrieved November 23, 2009, from ProQuest database. Farrell, M. (2002). Deloitte Blasts Adelphia on Audit. Multi Channel News. July 8, 2002. Retrieved on November 25, 2009 from http://www. allbusiness. om/company-activities-management/company-structures-ownership/6355799-1. html. (Friedlander J 2008 Overturn Time-Warner Three Different Ways)Friedlander, J. (2008). Overturn Time-Warner Three Different Ways. Delaware Journal of Corporate Law, 33(3), 631-649. Retrieved November 24, 2009, from Business Source Complete database Web Site: http://support. ebsco. com. FundingUniverse. (2009). Calpine Corporation. [Online]. Available: http://www. fundinguniverse. com/company-histories/Calpine-Corporation-Company- History. html (2009, November 25). Patsuris, Patricia (2009). Adelphia Hypocrisy. Forbes. om. Retrieved on November 25, 2009, from http://www. forbes. com/2002/06/10/0610adelphia. html. (Unknown 2 2008)Unknown 2. (2008). Retrieved November 23, 2009, from http://www. tyson. com//C orporate/PressRoom/ViewArticle. aspx? id-2879 Web Site: http://www. tyson. com. (Unknown 2009 Tyson Foods, Inc. )Unknown 1. (2009). Tyson Foods, Inc. Retrieved November 24, 2009, from http://www. fundinguniverse. com/company-histories. /Tyson-Foods-Inc-Company-History Web Site: http://www. fundi nguniverse. com. University of Phoenix (2009). McBride Financial Scenario. Retrieved November 16, 2009 from rEsource student website.

Eminent Domain Law/Policy in Texas Essay

The Eminent Domain Law is basically defined as the imposition of the power possessed by the state to appropriate private property and to renovate or reconstruct the property for public use. 1 It varies in different jurisdictions. The land that will be taken due to the eminent domain law is called condemnation proceedings. There is a process in seizing a property. First, the government will try to negotiate with the owner and offer an amount or a thing of equal value to compensate the loss of the property. Second, if the owner opts not to let go of his property, the state would exercise its power by imposing the eminent law and appeal to the court. Third, a hearing would be scheduled and argue with the fact that they have negotiated to purchase the land, and the owner would be casted upon with non-compliance with the government’s request. Lastly, if both sides were not satisfied then they can appeal to the court. 2 This is a vicious cycle that breaches the law of private property and also in some way steps on human rights. Though it is legally and constitutionally correct, there are negative implications attached to the undertakings of this law. Here are evidences which prove that the eminent law is applied. In Texas, a debate sprouted because of the undefined limitations of the eminent domain law. Frank Corte represented the state of San Antonio to justify that eminent law is simply taking of private property and made in accessible and useful for the public. Basically, he is talking of economic development. A counter –argument was fueled by Kyle Janek, who represents Houston, that there should be technical discourses about the amendments of the bill and to specify clearly what is â€Å"public use†. Janek’s claim is that there are always hidden motives with the eminent domain law. Another perspective was introduced when John Whitmire of Houston, said that â€Å"is economic development really the public’s interest? † It was brought about the effects of this law and enumerated some of its negative implications such as threatening of job creation, urban renewal, and state revenue resources. Based on what Whitmire has stimulated, Tommy Williams of The Woodlands claimed that the eminent law only made the other entities or such economically-driven officials to condemn private properties that would serve their purpose well. In the end of the debate, Kyle Janek’s suggestion of further supplying the reasons for condemnation has been implemented. In Texas law, it is stated that the government can seize private property only for economic purposes and especially for public use. Jeff Coyle attacked the eminent law and said â€Å"why would Governor Perry sign a bill with loopholes in it? Coyle thought that the loopholes would best serve the private interest of those who seize properties. In this scenario, Coyle is defending the rights of privately owned properties and its condemnation with the use of the eminent law. He implies that the eminent law has a self-serving bias for the politician who suddenly seizes the property. Eminent law is for economic development but also abstraction since it problematize on how can the people protect their own property though it is for public use. This was from the Texas Senate News and basically claims like the first other debates, the definition of â€Å"what is public use†. Bill Peacock of the Texas Public Policy Foundation stressed that the transfer of a private ownership to one another using the eminent law must be forbidden. Peacock also stressed that the court is too liberal in interpreting what is for public use and not. Basically, the eminent law has not been limited to any private property and all that is said to be needed for public use can be seized by the government. The origin of Peacock’s arguments came from Jenifer Zeigler who is an attorney in the Institute for Justice and claims in her proposed Senate bill 7 that the â€Å"public use† should be clearly defined and all of the transactions and negotiations should be done constitutionally. In the end of it, Attorney Joe Doegey made the closing remarks and defended the government that the eminent law enforcement was critically thought of and that all the properties that have been claimed were all constituted for public use. The committee then decided for adjourning the meeting and the case can be subjected in future meetings to come. This was what transpired in the meeting of the Joint Committee to Study the Power of Eminent Domain in 2005. In defense of the Eminent Law, Michael Allan Wolf, a professor in the University of Richmond which focuses on property law, states that the eminent law is good for the people since it promotes to claim private properties into public use. He had given examples such as railways and assembly lines. In the creation of railways, it made some parts of the state more accessible. Trading and other business transactions were a lot easier. With the birth of the assembly lines, people near the area are most likely of getting employed. With this positive note, he even claimed that the eminent domain is the â€Å"engine of public progress† since the people is making good use of the seized facilities. In summary, there is no clear limitation for the eminent domain law. Even if there many revisions or suggestion to make the law better, the economically-driven politicians will always find a way to exploit this law. Abuse of the law is what occurs in this point. There are no restrictions for the one who holds the power and can claim the properties that he may wish. The eminent domain law is powerful and useful but at the same time, it as like a double-edged sword that the people adhere to. There are act of the government and other institution to revise this law in protection the properties of the public and also to sustain the people’s rights. Much justified, the eminent domain law is being abused by the ones who are in the position. It is up to us the people who should know about the law and better yet our rights. The eminent domain law is made not to seize property irrationally but a condemnation for economic development. It is a law since it is very powerful yet it is just like a policy since it has many loopholes in it.

Selecting a Project essay

Selecting a Project essay Selecting a Project essay Selecting a Project essayAn important component of project management process is the selection of the project and initiation of the project. Prior to selecting a project, it is necessary to address the problem that the new project will be solving or to identify the new feature or opportunity that the project will be focused on. Furthermore, it is necessary to develop a strategic plan for the particular problem or opportunity which should be aligned with the overall corporate strategy, to analyze competition and local businesses, to identify all relevant alternatives and to select the project basing on specific criteria. The selection of projects is commonly based on the following criteria: the benefits associated with this project, project feasibility and economic efficiency. The purpose of this paper is to consider a case of launching a new project and to consider the stages of project identification and selection pertaining to the target project.The title of the article describing the new project and its selection is the following: Hellmanns promote recipes on intelligent trolleys. The article was retrieved from the website GetTheMedia.com, which provides various resources and information pertaining to marketing ideas, cases and projects. This article discusses the impressive marketing project which was implemented by Hellmann in Brazil in 2013.Hellmann continues to look for innovative ways to market its products and to increase customer engagement. The previous marketing campaign which created the background for the particular project was the Recipe Receipt campaign of Hellmann (SpringWise, 2013). Customers who purchased Hellmanns mayonnaise received printed recipes which included other products purchased along with mayonnaise in the same check (SpringWise, 2013). However, this marketing campaign included only the products that were already selected by the customers and thus limited the choice of recipes. Hellmann was seeking to expand this marketing initiat ive and to make the process of offering recipes and engaging customers more sophisticated.The main challenge of the new project was the need to interact with customers while they were shopping and to provide Hellmanns recipe advice matching the choices already made by the customers. The problem that should be solved by the new project was the following: customers might be interested in some recipe for which they do not have components yet, so the new marketing tool should create the inspiration to cook new dishes (instead of focusing on the products that the customers already chose). Furthermore, the goal of Hellmanns was to change the perception of mayonnaise and to make the customers perceive it as a delicious element of many dishes.Hellmann chose the following solution: the company integrated a Recipe Cart into the trolleys in the large stores. The card was equipped by LCD screen and RFID which scanned the products located closely to the trolley; these products were used to make recipe suggestions (Get the Media, 2014). All recipes included Hellmanns mayonnaise as a component. The customers could browse recipes and even share the recipes by email. As a result, recipe carts were used by more than 45,000 people and the sales of Hellmann mayonnaise increased by 68% during the first month of the campaign (Get the Media, 2014).The example of project selection by Hellmann illustrates that it is critically important to identify the objectives of the project and to align the project with overall corporate strategy prior to selecting the project. Furthermore, Hellmanns experience shows that the selection of a new project can (and often should) be based on the previous alternatives and projects implemented by the company. In the considered case, Hellmann used the experience of the previous campaign and set the criteria for the project that allowed to eliminate the weaknesses of the previous campaign. Therefore, Hellmanns campaign selection illustrates the process of creating and initiating a project.

Berlin Airlift and Blockade in the Cold War

Berlin Airlift and Blockade in the Cold War With the conclusion of World War II in Europe, Germany was divided into four occupation zones as had been discussed at the Yalta Conference. The Soviet zone was in eastern Germany while the Americans were in the south, the British the northwest, and the French the southwest. Administration of these zones was to be conducted through the Four Power Allied Control Council (ACC). The German capital, located deep in the Soviet zone, was similarly divided between the four victors. In the immediate period following the war, there was great debate regarding what extent Germany should be allowed to rebuild. During this time, Joseph Stalin actively worked to create and place in power the Socialist Unity Party in the Soviet zone. It was his intention that all of Germany should be communist and part of the Soviet sphere of influence. To this end, the Western Allies were only given limited access to Berlin along road and ground routes. While the Allies initially believed this to be short-term, trusting to Stalins goodwill, all subsequent requests for additional routes were denied by the Soviets. Only in the air was a formal agreement in place which guaranteed three twenty-mile-wide air corridors to the city. Tensions Increase In 1946, the Soviets cut off food shipments from their zone into western Germany. This was problematic as eastern Germany produced the majority of the nations food while western Germany contained its industry. In reply, General Lucius Clay, commander of the American zone, ended shipments of industrial equipment to the Soviets. Angered, the Soviets launched an anti-American campaign and began to disrupt the work of the ACC. In Berlin, the citizens, who had been brutally treated by the Soviets in the closing months of the war, voiced their disapproval by electing a staunchly anti-communist  city-wide government. With this turn of events, American policymakers came to the conclusion that a strong Germany was necessary to protect Europe from Soviet aggression. In 1947, President Harry Truman appointed General George C. Marshall as Secretary of State. Developing his Marshall Plan for European recovery, he intended to provide $13 billion in aid money. Opposed by the Soviets, the plan led to meetings in London regarding reconstruction of Europe and the rebuilding of the German economy. Angered by these developments, the Soviets began stopping British and American trains to check the identities of the passengers. Target Berlin On March 9, 1948, Stalin met with his military advisors and developed a plan for forcing the Allies to meet his demands by regulating access to Berlin. The ACC met for the last time on March 20, when, after being informed that the results of the London meetings would not be shared, the Soviet delegation walked out. Five days later, Soviet forces began restricting Western traffic into Berlin and stated that nothing could leave the city without their permission. This led to Clay ordering an airlift to carry military supplies to the American garrison in the city. Though the Soviets eased their restrictions on April 10, the pending crisis came to head in June with the introduction of a new, Western-backed German currency, the Deutsche Mark. This was ardently opposed by the Soviets who wished to keep the German economy weak by retaining the inflated Reichsmark. Between June 18, when the new currency was announced, and June 24, the Soviets cut off all ground access to Berlin. The next day they halted food distribution in the Allied parts of the city and cut off electricity. Having cut off Allied forces in the city, Stalin elected to test the resolve of the West. Flights Begin Unwilling to abandon the city, American policymakers directed Clay to meet with General Curtis LeMay, commander of United States Air Forces in Europe, regarding the feasibility of supplying West Berlins population by air. Believing that it could be done, LeMay ordered Brigadier General Joseph Smith to coordinate the effort. Since the British had been supplying their forces by air, Clay consulted his British counterpart, General Sir Brian Robertson, as the Royal Air Force had calculated the supplies required to sustain the city. This amounted to 1,534 tons of food and 3,475 tons of fuel per day. Before commencing, Clay met with Mayor-Elect Ernst Reuter to ensure that the effort had the support of the people of Berlin. Assured that it did, Clay ordered the airlift to move forward on July 26 as Operation Vittles (Plainfare). As the US Air Force was short on aircraft in Europe due to demobilization, the RAF carried the early load as American planes were moved to Germany. While the US Air Force began with a mix of C-47 Skytrains and C-54 Skymasters, the former was dropped due to difficulties in unloading them quickly. The RAF utilized a wide array of aircraft from C-47s to Short Sunderland flying boats. While initial daily deliveries were low, the airlift quickly gathered steam. To ensure success, aircraft operated on strict flight plans and maintenance schedules. Using the negotiated air corridors, American aircraft approached from the southwest and landed at Tempelhof, while British aircraft came from the northwest and landed at Gatow. All aircraft departed by flying due west to Allied airspace and then returning to their bases. Realizing that the airlift would be a long-term operation, the command was given to Lieutenant General William Tunner under the auspices of the Combined Airlift Task Force on July 27. Initially derided by the Soviets, the airlift was allowed to proceed without interference. Having overseen the supply of Allied forces over the Himalayas during the war, Tonnage Tunner quickly implemented a variety of safety measures after multiple accidents on Black Friday in August. Also, to speed up operations, he hired German work crews to unload aircraft and had food delivered to pilots in the cockpit so they would not need to deplane in Berlin. Learning that one of his flyers had been dropping candy to the citys children, he institutionalized the practice in the form of Operation Little Vittles. A morale-boosting concept, it became one of the iconic images of the airlift. Defeating the Soviets By the end of July, the airlift was delivering around 5,000 tons a day. Alarmed the Soviets began harassing incoming aircraft and attempted to lure them off course with fake radio beacons. On the ground, the people of Berlin held protests and the Soviets were forced to establish a separate municipal government in East Berlin. As winter approached, airlift operations increased to meet the citys demand for heating fuel. Battling severe weather, the aircraft continued their operations. To aid in this, Tempelhof was expanded and a new airport built at Tegel. With the airlift progressing, Tunner ordered a special Easter Parade which saw 12,941 tons of coal delivered in a twenty-four hour period on April 15-16, 1949. On April 21, the airlift delivered more supplies by air than typically reached the city by rail in a given day. On average an aircraft was landing in Berlin every thirty seconds. Stunned by the success of the airlift, the Soviets signaled an interest in ending the blockade. An agreement was soon reached and ground access to the city reopened at midnight on May 12. The Berlin Airlift signaled the Wests intention to stand up to Soviet aggression in Europe. Operations continued until September 30 with the goal of building a surplus in the city. During its fifteen months of activity, the airlift provided 2,326,406 tons of supplies which were carried on 278,228 flights. During this time, twenty-five aircraft were lost and 101 people killed (40 British, 31 American). Soviet actions led many in Europe to support the formation of a strong West German state.