George 218 Pty Ltd V Bank Of Queensland Ltd Essay

George 218 Pty Ltd v Bank of Queensland Ltd [2015] WASC 434; BC201511125 This decision was handed down on 16 November 2015 by Mitchell J. Facts of the case In this case, Success Assets Pty Ltd (Success) borrowed money from Statewest Credit Society Ltd (Statewest) to purchase land, and the land was mortgaged as security. The plaintiff entered into a guarantee in favour of Statewest which secured the loan and all future loans from Statewest to Success. Success used money borrowed from Home Building Society Ltd (Home) to pay the loan from Statewest. Statewest’s rights under the guarantee (which includes those relating to future loans) and Home’s rights under the were transferred to the defendant, Bank of Queensland (BOQ). BOQ then agreed to lend Success money to pay out its existing facilities secured by mortgages over properties, and the plaintiffs signed a deed of consent where the parties agreed that the guarantees originally provided to Statewest operated in respect of the BOQ loan. Success defaulted on the BOQ loan. The mortgage property was sold, with a shortfall of over $2,000,000. The plaintiffs commenced proceedings, and (among other things) sought a declaration that the defendant was not entitled to payment under guarantees. Practical lessons from this decision 1. The Code of Banking Practice (COBP) only applies to guarantees by individuals. As such, the COBP could not apply in this case as the guarantor was not an individual. 2. The COBP is incorporated into the

So Far From God Essay - 875 Words

Eisenhower, John S. D. So Far From God: The U. S. War with Mexico 1846 – 1848. New York: Random House, 1989, xxvi, 436. Mr. John Eisenhower is a retired Army General from Westchester, Pennsylvania. He is also the son of retired General and later President, Dwight D. Eisehower. He is an author as well as a military historian. Mr. Eisenhower’s other works include, The Bitter Woods, published in 1987 and critically acclaimed by Life magazine author, S. L. A. Marshall as being â€Å"written with power by a true military historian.† Reviews of his work from The New Yorker and New York Times Book Review describe his accounts as â€Å"Exceptionally interesting† and â€Å"Written with enthusiasm that is hard to resist.† Using his military background, Mr.†¦show more content†¦S. was outnumbered. The level of discipline that Taylor and Scott’s men possessed stands as a testament to these two leaders’ resourcefulness. By including something as simple as sanitation in their training, they were able to conserve the additional strength for battle, which would have normally been lost through disease. This concept was considerably less effective with the volunteers. A clear and concise understanding of why as well as how many of the events took place on the battlefield and behind the lines was provided through maps and background information. A detailed description of the events that lead up to the annexation of Texas in 1845 through the troops departing Veracruz on July 15th 1848 allowed the reader to comprehend the entire story of this conflict. The author provides background into the events leading up to the war, particularly the collapse, imprisonment, and exile of Santa Anna. Events and key personnel on the American side are also outlined in detail. President Tyler is described as â€Å"seizing the initiative† to shift public opinion against Mexico by assigning a troublemaker, Wilson Shannon, as the minister to that country in 1844. Eisenhower provides a detailed description on the implementation of weaponry and tactics during all stages of warfare. He often refers to the performance of the main characters in other conflicts such as the war of 1812 and forward to the civil war. The cause of this war is summed up early in the text followed byShow MoreRelatedSo Far from God1622 Words   |  7 PagesEssay, Research Paper: So Far From God Literature Free Literature essays posted on this site were donated by users and are provided for informational use only. The free essay on this page was not written by our writers and should not be viewed as a sample of our writing service. We are neither affiliated with the author of this essay nor responsible for its content. If you need high quality, fresh and competent research / writing done on the subject of Literature, use the professional writing serviceRead MoreSo Far From God, by Ana Castillo1270 Words   |  6 PagesAna Castillo’s novel, So Far From God, propels the reader on a vibrant and surreal journey through the tragic ordeals of Sofi and her four daughters. The first chapter, which offers certain similarities to the Bible’s story of Jesus Christ, in that Sofi’s three year old daughter, La Loca, seems to succumb to a violent and horrifying death, and at the wake, she returns to life with a tale of her journey beyond the veil. This scene creates a notable co mparison between the patriarchal religiosity ofRead MoreIslation in So Far From God, Beloved, and The Guardians1408 Words   |  6 Pagesnovels So Far from God and Guardians by Ana Castillo and Beloved and by Toni Morrison we see how isolation can create a need for community and support from others. Isolation as demonstrated in these texts is something that is not dealt with properly. Getting through a tough situation may be hard, but it does not have to be a solo act. It can be said; a person who feel they need to ‘isolate’ themselves from their community are only going to make their situation worse, and if support from the communityRead MoreGod Is An All Loving By Michael J. Murray And Kurt Myers1380 Words   |  6 Pagespeople who believe in the existence of God, often are required to pray to God in order to obtain certain benefits and provisions. It is believed that these things wouldn’t come to God’s believers unless they take the role as a petit ioner and pray. These believers know God to be an all-loving being. However, if this is the case, a major problem arises for both atheists and theists alike; â€Å"Why would God bestow the good only if asked to bestow it† and â€Å"Why does God not grant the good irrespective of whetherRead More Kierkegaard’s Fear and Trembling: A Solution to Kierkegaard’s Despair Over Christianity1205 Words   |  5 Pagesis an exalted one, a unique title awarded to those whose devotion to God goes far beyond what is even comprehensible or expected for the average man, who has an aesthetic or ethical life. We are told by Kierkegaard that this Knight of Faith, when in a situation where resignation appears to be the only solution to a problem, puts his faith in what appears to be the absurd, and believes that the solution that he desires lies in God. This fuels his faith, and makes him better than the aesthetic manRead MoreWhy The Catholic Church Is Toward Sex And Dating892 W ords   |  4 Pagesis toward sex and dating. This deception is far from the truth, what the Catholic Church actually teaches is how to truly love to the fullest. When Catholic teens start dating the question always comes up is â€Å"How far is too far?† The answer is that there is no such thing as going too far, only too little. Before you click out let me explain. Let’s start with why we wait till marriage. We wait not because sex is bad but because it is a great gift. God wanted humanity to be able to share in his creativeRead MoreEssay about Early American Literature1044 Words   |  5 Pagesthat God likes certain people better than others and those chosen ones would get more land and more money. This idea took off with the Puritans as they seeked religious freedom, a chance to start new churches and purification of the Church of England. As life moved on in the New World for the Puritans they seemed overwhelmed with the fact that they were the chosen ones and proceeded to act out life and every aspect of it for God and God only. The other group was far moreRead MoreDoes God Or Evil Really Exist?1174 Words   |  5 PagesDoes God/ evil really exist? All of the living things have to be set by all of evils thing in the world: sickness, agony, happiness, suffering the live and death. God creates incredible things and leaves all of them for human to freely use as they want. However, the more they have the more temptation they get. That’s why there are a lot of questionable about a creator, God based on all of these kinds of events happened. Is this belief in a benevolent God not at least paradoxical in the face of suchRead MoreProblem Of Evil And The Free Will Defense1038 Words   |  5 Pagesand the Free Will Defense Evil is something that exists in many forms. From big evils like Hitler’s Holocaust and slavery, to small evils like getting a papercut and getting stuck in the rain (perhaps to some this might be a big evil), evil is basically anything that is not good. For theologians, evil poses several problems, most notably when it comes to the existence of God. To most theologists, God has a set definition. God is defined as an all-powerful (omnipotent), all knowing (omniscient), andRead More Essay on The Holy Bible - Role of God in the Book of Job1131 Words   |  5 PagesRole of God in the Book of Job The Book of Job shows a change in Gods attitude from the beginning to the end.  At the beginning of the book, He is presented as Jobs protector and defender. At the end He appears as the supreme being lecturing and preaching to Job with hostility, despite the fact that Job never cursed his name, and never did anything wrong.   Jobs only question was why God had beseeched this terrible disease on him. I intend to analyze and discuss the different roles God played

The story of “Like Water for Chocolate” Free Essays

The story of â€Å"Like Water for Chocolate† is about the relationship of the mother, Mama Elena, to his three daughters namely Rosaura, Getrudis and Tita. The setting was in Mexico where the life there before had been portrayed. It goes with the love story of the protagonist â€Å"Tita† and her love interest Pedro Muzquiz. We will write a custom essay sample on The story of â€Å"Like Water for Chocolate† or any similar topic only for you Order Now Since the mother of the three girls is already a widow, she refuses to accept that her youngest daughter had already fallen in love with someone. Instead, she imposed to the people in that set up that Tita, being the youngest of her daughters must be with her until her soul leaves her. Quoting from the book, Mama Elena told Nacha that â€Å"Nacha! Don’t say that. As my youngest daughter, Tita will care for me until the day I die. She won’t marry.† This is one of the sayings in the book from the site mentioned below. Adding to the pain the imposing of her mother, Pedro married one of her sisters, and that is Rosaura. She was badly hurt emotionally with the situation but still can’t find anyway to get free of it. Since Tita is suppressed with what she feels, she just managed to improve her recipes, giving them her best effort and affection. On the later part of the story, she made her talent her way of capturing and cornering Pedro. Fortunately in the end, they still managed to express their love for one another like what Getrudis, (her older sister) have done with the revolutionary army she fell in love with. Being affected by the bad things that happened to Tita, Getrudis also found a way to escape their very imposing mother. Mother and daughters are expected to have good relationships at home since they are of the same gender. The changes that a daughter would undergo must be first known by her mother in order for her to be guided or so, like if the daughter will have to recite on her class the next morning, it is the duty of the mother to guide her with the things that will improve the speech or knowledge of her daughter. The relationship between the mother and the daughter I think will serve as a foundation of the girl’s interaction with other people with her entire life. Mothers are always thought to become the light of the home. They are regarded to be in charged of the household chores like for dish washing, cooking, doing the laundry and cleaning the house. As it was established by the society, the mother also gives her daughter the ideas of the things she may become after her childhood. It is with the mother that the daughter will learn the basic ways of life, the social roles of women and other stuffs. Girls that have time with their mothers might have experiences that have molded them the way they are in their past, present and future. And for those who are born without their moms with their side might also have the factors why they became what they are since they do not have someone who is expected to primarily guide them. Is the relationship of the mother and daughter really connected with the issue of power and gender? In this assignment, we are to examine the relationship of Getrudis and her mother in order to answer the question above. Getrudis as we remember is the middle child of Mama Elena who was not so mentioned in the story since it all went for Tita and Rosaura who is the wife of Pedro. Getrudis, being the silent one with the happenings in Tita’s life, is also suppressed of her freedom. When she found someone who will awaken her sexuality, she eloped with him and then after came back since the war is going to start again. We can say that there are a few interactions with the mother and the daughter here since the mother already imposed her power over her daughters, I think she has given them the factor that she must be respected or so, and that is dictating them that mothers have power more than what they have. In the set-up of the family, everybody searches for power, however, it was the social structure of the family and the place where they are situated that influenced their aspired power. Since it was during the Mexican Revolution, which is a way bit far from our present situations, certain family traditions are still existent. And with their family, their mother forbade their search for power and it was with that act they forcefully found it by also expressing their sexualities. In the situation of Getrudis where she was with the man of her dreams, it was with escaping with Sargento Trevià ±o that her gender came into action. Girls that expressed their love with their sweet and enticing scents are like Getrudis who found a way of being her real self, a woman who was implanted with the desires that only a man can suffice. Taking in consideration the situation of Getrudis and Mama Elena, I can say that a daughter’s relationship with her mother affects the way she faces her life. Since power and gender are parts of being a human, it is expressed by the way the daughters are molded by their contact with their moms. Both the positive and negative parts of the relationship between a mom and a daughter give rise to the searching of identity of someone. Therefore, in evaluating a person’s power or gender, it is right to look first at his/her background where he/she might have gotten his/her personalities. Works Cited Amy Coffin. Like Water for Chocolate. 9 December 2007.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   http://www.thebookhaven.net/Z_Like_Water_for_Chocolate.html Judi Clark. Like Water for Chocolate (books review). 1999. 9 December 2007.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   http://www.mostlyfiction.com/latin/esquivel.htm Like Water for Chocolate.2006. 11 December 2007.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   http://www.sparknotes.com/lit/likewater/section3.rhtml Internet Movie Database. Memorable quotes for Como agua para chocolate. 2007. 12  Ã‚  Ã‚  Ã‚   December 2007. http://imdb.com/title/tt0103994/quotes Laura Esquivel. Quotes from Like Water for Chocolate : A Novel in Monthly  Ã‚  Ã‚  Ã‚  Ã‚   Installments with Recipes, Romances, and Home Remedies. 2007. 12  Ã‚   December 2007.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   http://books.zaadz.com/4088/like_water_for_chocolate/by_laura_esquivel/qu  Ã‚  Ã‚  Ã‚   otes       How to cite The story of â€Å"Like Water for Chocolate†, Essay examples

Communication Systems Essay Example For Students

Communication Systems Essay COMMUNICATION SYSTEMSBarriers to Human Communication,XLanguage,XDistanceElectronic CommunicationsThe transmission, reception, and processing of information using electronic circuits. Historymid-19th century V James Clark Maxwell studied electromagnetic wave and predicted that it can be propagated through free space. 1837 V Samuel Morse invented the telegraph. 1876 V Alexander Graham Bell and Thomas A. Watson transmitted human conversation over a functional telephone system. 1888 V Heinrich Hertz radiated electromagnetic energy from a machine he called oscillator. 1894 V Guglielmo Marconi was the first to accomplish wireless transmission. 1908 V Lee DeForest invented the triode vacuum tube. 1933 V Major Howard Armstrong invented frequency modulation. 1948 V William Shockley, Walter Brattain and John Bardeen invented the transistor. Electromagnetic SpectrumElectromagnetic SpectrumThe entire range of frequency. FrequencyThe number of times an alternating current goes through its complete cycle per second is known as its frequency. The international unit of measurement of frequency is hertz, abbreviated Hz. The English unit is cycles per second, abbreviated cps (1 Hz = 1 cps). It is rarely used. To simplify terminology, 1000 Hz is called kilohertz, abbreviated kHz, and 1000000 Hz is called a megahertz, abbreviated MHz. The vibration rate of sound waves in air may also use the term frequency. When middle C is played on a musical instrument, for example, an air disturbance with a frequency of 262 Hz is set up. The lowest tone that can be heard by human beings is about 15 Hz. The highest audible, audio, or sonic tones are usually 12 to 22 kHz (22 kHz for youngsters, 12 kHz for seniors). A microphone is a device or transducer that can change sound waves in air to an equivalent-frequency ac in wires. Frequencies that produce sound waves audible to humans are said to be audio frequencies (AF). Frequencies that can be fed to antennas and will radiate electromagnetic and electrostatic waves in space are considered to be radio frequencies (RF). FCC Band Designations Frequency RangeDesignations30 V 300 HzELF (Extremely Low Frequencies)0.3 V 3 kHzVF (Voice Frequencies)3 V 30 kHzVLF (Very Low Frequencies)30 V 300 kHzLF (Low Frequencies)0.3 V 3 MHzMF (Medium Frequencies)3 V 30 MHzHF (High Frequencies)30 V 300 MHzVHF (Very High Frequencies)0.3 V 3 GHzUHF (Ultra High Frequencies)3 V 30 GHzSHF (Super High Frequencies)30 V 300 GHzEHF (Extremely High Frequencies)0.3 V 3 THzInfrared 3 V 30 THzInfrared 30 V 300 THzInfrared 0.3 V 3 PHzVisible Light3 V 30 PHzUltraviolet 30 V 300 PHzX-rays0.3 V 3 EHzGamma rays3 V 30 EHzCosmic rays, FCC stands for Federal Communications Commission Wavelength, U The length that one cycle of an electromagnetic wave occupies in space, also, the distance between simila r points in a repetitive wave. wherek= velocity factor (equal to 1 in free space)c= velocity of light in free space= 299793000 m/s ,l 3 ,e 108 m/sf= frequency@ high frequencies, wavelength is too short and is usually expressed as Angstrom. Bandwidth and Information CapacityLimitations of Communication Systems,Xnoise,XbandwidthBandwidth, BWunit:Hz (Hertz)A portion of electromagnetic spectrum occupied by a system. Minimum range of frequencies required propagating the source information through the system. must be sufficiently large (wide) to pass all significant information frequencies. difference between the upper and lower limit frequencies. Information CapacityA measure of how much source information can be carried through the system in a given period of time. Hartleys LawInformation Capacity N Bandwidth ,e timeSignal AnalysisFactors Affecting the Signal,XDistortion V signal alteration due to imperfect response of the system to the desired signal. ,XInterference V contamination of extraneous signal usually man-made to a form similar to the desired signal. ,XNoise V random, undesirable high frequency spikes. ,XAttenuation V decrease in signal level. Types of Signals,XBaseband Signal,XModulated SignalTypes of Intelligence Transmitted,XAnalog ,XDigitalAdvantages of Digital Over Analog,Xeasier to multiplex,Ximproved noise immunity,Xbetter performance,Xeasier to interfaceDisadvantages of Digital Over Analog,Xneed for large (wide) bandwidth,Xneed for synchronization,Xneed for additional equipment,Xrestriction to wired topologyKinds of Signal Representations,XTime-Domain V amplitude vs. time,XFrequency-Domain V amplitude vs. frequencyClassifications of Signals:According to Period,XPeriodic V signals that keep on repeating at a regular interval. Autism: Educational and Social Effects EssayResults of Noise,Xhiss/static,Xsnow/confetti,Xbit errors,Xsignal lossKinds of NoiseCorrelated Noise V mutually related to the signal and cannot be present in a circuit unless there is an input signal and is produced by nonlinear amplification. No signal, no noise!Harmonic Distortion V unwanted harmonics of a signal are produced. Intermodulation Distortion V the generation of unwanted sum and difference frequencies (cross products) when two or more signals are amplified in a nonlinear device. Uncorrelated Noise V present regardless of whether there is a signal present or not. Kind of Uncorrelated NoiseExternal Noise V generated outside the device or circuit. Atmospheric Noise V naturally occurring electrical disturbances that originate within the earths atmosphere. Extraterrestrial Noise V consists of electrical signals that originate from outside Earths atmosphere. Solar Noise V directly from the suns heat. Cosmic Noise V from the stars. Man-made Noise V produced by manufactured equipment, such as automotive ignition systems, electric motors and generators. Internal Noise V generated within a device or circuit. Shot Noise V caused by the random arrival of carriers (holes and electrons) at the output element of an electronic device. Transit-Time Noise V shows up as a kind of random noise within the device and is directly proportional to the frequency of operation. Thermal Noise V associated with the rapid and random movement of electrons within a conductor due to thermal agitation. Noise ComputationsNoise Powerthe average noise power is proportional to the absolute temperature of the conductor and to the bandwidth or spectrum of the thermal noise. wherePN= noise power (W)T= Temperature of the conductor (K)B= bandwidth of the noise spectrum (Hz)k= Boltzmanns Constant = Noise VoltagewhereVN= rms noise voltageT= Temperature of the conductor (K)B= bandwidth of the noise spectrum (Hz)k= Boltzmanns Constant = R= equivalent resistance generating the noisefor combinations of resistancesSeries Parallel Power Spectrum Density or Noise Density,Xaverage noise power per Hertz of bandwidth,Xa figure that determines the amount of noise contained in a specified bandwidth. Signal-to-Noise Ratio,Xa relative measure of the desired signal power to the noise power. In decibel form:wherePS= signal powerPN= noise powerVS= signal voltage VN= noise voltage Noise FactorwhereSi= input signal powerNi= input noise powerSo= output signal powerNo= output noise powerNoise Figurefor ideal noiseless networkfor a network that contributes noiseReactance Noise Effects,Xthe significant effect of reactive circuits on noise is their limitation on frequency response. ,Xthe equivalent bandwidth to be used in noise calculations with reactive circuits iswhereB3dB= half power bandwidth Equivalent Noise TemperaturewhereTeq= equivalent noise temperature To= reference absolute temperature = 290 KF= noise factorNoise Due to Amplifiers in CascadeFriiss FormulaOver-all noise factor of n stagesOver-all noise temperature of n stagesOver-all noise resistancewhereA= voltage gain (ratio)G= power gain (ratio)Shot Noise,Xa form of internal noise, which is due to the random variations in current flow in active devices such as tubes, transistors and diodes. WhereiN= rms noise currentq= charge of an electron = B= bandwidth over which the noise is observed I= dc bias current in the deviceProblems:1.What is the shot noise current for a diode with a forward bias of 1.15 mA over a 50-kHz bandwidth?2.An amplifier operating over the frequency range of 455 kHz to 460 kHz has a 200 kC input resistance. What is the rms noise voltage at the input to the amplifier if the ambient temperature is 17XC?3.Two resistors, 5 kC and 20 kC are at 27XC. Calculate the thermal noise power and voltage for a 10 kHz bandwidth. a) for each resistor, b) for their series combination, and c) for their parallel combination. 4.Three matched amplifiers are available to amplify a low level signal, they have the following characteristics. AmplifierPower GainNoise FactorA6 dB1.5B12 dB2C20 dB4The amplifiers are to be connected in cascade. Calculate the lowest overall noise factor obtainable noting the order in which the amplifiers must be connected.

5 Rules About Conjunctive Adverbs

5 Rules About Conjunctive Adverbs 5 Rules About Conjunctive Adverbs 5 Rules About Conjunctive Adverbs By Mark Nichol Many words and phrases are similar in function to the conjunction and, but they’re not exact replacements; they even belong in a different grammatical class adverbs. But because of this similarity, they’re called conjunctive adverbs or adverbial conjunctions. When considering using any of the special adverbs discussed below the simplest and most common among this subclass with or in place of and, keep these rules in mind: 1. â€Å"As Well As† Stands Alone The phrase â€Å"as well as† serves to distance a phrase from a preceding item or list of items: â€Å"Bioethics addresses issues of medical administration, medical economics, industrial medicine, epidemiology, legal medicine, treatment of animals, as well as environmental issues.† Because â€Å"as well as environmental issues† is a separate phrase, the preceding list requires its own conjunction before the final item: â€Å"Bioethics addresses issues of medical administration, medical economics, industrial medicine, epidemiology, legal medicine, and treatment of animals, as well as environmental issues.† 2. Clauses Share Conjunctive Adverbs The presence of a conjunction in a subordinate clause obviates the need for another one in the main clause: â€Å"In addition to managing the application server and the database, the company also tackles Web applications.† When you begin a sentence with a connector, do not introduce another later in the sentence: â€Å"In addition to managing the application server and the database, the company tackles Web applications.† 3. Conjunctions and Conjunctive Adverbs Clash Merriam-Webster’s Collegiate Dictionary, in a sample sentence demonstrating the definition of also, allows the combination â€Å"and also,† as shown in this construction: â€Å"I did check-in procedures when they were first arrested and also checked them for weapons and such before they went into their rooms.† However, I see no point in retaining also and recommend its deletion: â€Å"I did check-in procedures with them when they were first arrested and checked them for weapons and such before they went into their rooms.† 4. Let Etc. Carry Its Own Load A similar redundancy can occurs with etc.; fortunately, few people commit this error in their writing, but in searching for examples online, I found many company names following the â€Å"Widgets and Etc.† model. Etc., an abbreviation of the Latin et cetera (hence the pronunciation), means â€Å"and so on,† and so forth,† â€Å"and the like,† so preceding it with and is redundant. By the way, style guides recommend using one of the English forms in favor of the Latin abbreviation. If you’re going to ignore this sensible advice, at least punctuate the sentence correctly by preceding the abbreviation with a comma: â€Å"Symptoms of alcohol abuse are identical to those of heart failure due to viral infection, high blood pressure, etc.† If etc. occurs mid-sentence, punctuate after it as well: â€Å"Symptoms of alcohol abuse are identical to those of heart failure due to viral infection, high blood pressure, etc., so it is easily misdiagnosed or missed.† 5. Take Care in Placing Too Too can be situated in various places in a sentence, depending on the sentence’s intended meaning: â€Å"Too, I think mediation should be considered.† However, it should not start a sentence: â€Å"I think, too, mediation should be considered first,† in which the placement of too clearly indicates that the writer is expressing an additional thought, is the correct syntactical arrangement. â€Å"I think mediation should be considered, too,† while also correct, is ambiguous: It could mean the same thing, or it could signal agreement with another person’s opinion. â€Å"I, too, think mediation should be considered first† unequivocally communicates the latter meaning. But don’t let the injunction against the adverbial conjunction too at the head of a sentence deter you from beginning one with the pure adverb too: â€Å"Too many cooks spoil the broth.† Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Grammar category, check our popular posts, or choose a related post below:English Grammar 101: All You Need to KnowProbable vs. PossibleUsing "zeitgeist" Coherently

Free Essays on A Successful Relationship

There are three main stages in a relationship. The first key element in a relationship is to begin by dating the person you feel the most attraction for; this is the easy part. After this, the next fork in the road entails taking the relationship to the next level, and marrying your soul mate. Finally, your hardest challenge arrives. This challenge, of course, includes the biggest day in your life: the birth of your children. In a nutshell, this is how a relationship evolves and remains successful and alive. Dating a person is the most important part of a relationship. This is how you know if you are compatible and if the relationship will last. There must first be sparks between the two of you. Whether you meet in school, work, or between mutual friends, you must be somewhat attracted to this person. It does not necessarily have to be a physical attraction, but it can also be a mental fixation. Now that you have the attraction, you must now get up the courage to ask this person out on a first date, also known as â€Å"Gettin’ up the gusto.† You have gotten over the hard part, asked the girl out, and she has said yes. Now comes preparation for the first date. You want it to be amazingly perfect, and a night that she will never forget. Now you must do a little bit of research to find out more about her and what she likes. You may just come out and ask her to get to know her better, or ask her friends what she is interested in. This includes anything from what sports, if any, she is into, her favorite color, flower, or food; what kind of movies she likes, and what she does to have fun. For instance, if her favorite flower was daisies, and her favorite food was Italian food the perfect date would be to go and hand pick a bunch of daisies for her, and then proceed to the best Italian restaurant in the city. It would be the most thoughtful and ... Free Essays on A Successful Relationship Free Essays on A Successful Relationship There are three main stages in a relationship. The first key element in a relationship is to begin by dating the person you feel the most attraction for; this is the easy part. After this, the next fork in the road entails taking the relationship to the next level, and marrying your soul mate. Finally, your hardest challenge arrives. This challenge, of course, includes the biggest day in your life: the birth of your children. In a nutshell, this is how a relationship evolves and remains successful and alive. Dating a person is the most important part of a relationship. This is how you know if you are compatible and if the relationship will last. There must first be sparks between the two of you. Whether you meet in school, work, or between mutual friends, you must be somewhat attracted to this person. It does not necessarily have to be a physical attraction, but it can also be a mental fixation. Now that you have the attraction, you must now get up the courage to ask this person out on a first date, also known as â€Å"Gettin’ up the gusto.† You have gotten over the hard part, asked the girl out, and she has said yes. Now comes preparation for the first date. You want it to be amazingly perfect, and a night that she will never forget. Now you must do a little bit of research to find out more about her and what she likes. You may just come out and ask her to get to know her better, or ask her friends what she is interested in. This includes anything from what sports, if any, she is into, her favorite color, flower, or food; what kind of movies she likes, and what she does to have fun. For instance, if her favorite flower was daisies, and her favorite food was Italian food the perfect date would be to go and hand pick a bunch of daisies for her, and then proceed to the best Italian restaurant in the city. It would be the most thoughtful and ...

My View of the Film the Red Detachment of Woman Movie Review

My View of the Film the Red Detachment of Woman - Movie Review Example From lowest working class, she represents her social class by bravely joining the red army which fought willingly for a cause in the liberation of china. The strength of a woman in fighting for a common cause is portrayed when Qionghau takes a short ata Nan Baitian while on strict scouting trip. With the main theme â€Å"politics† the movies clearly depicts woman’s position in the attainment of political agendas. Communist being the main idea advocated in the movie, lack of sexuality between the two main character enforces the idea of communist main cause which comes above other things. Qionghua returns the four coins she was given by Hong to him before the war breaks out for the registration of her party membership fee. This depicts woman as conservative and good manager of resources. This is centrally to the main picture painted to woman in that time and many years that followed as resource spendthrift. Her strength is depicted by participating up to the last event of the battle against Nationalists and old society. Although the movie portrayed woman positively and as the agent of change the hero of the movie who was made a martyr towards the end is a male character. This makes the film more complicated in terms gender picture. In conclusion the film stands as an example of linking the struggle against property and the struggle for women’s liberation (Zhongguo

Discuss with examples the sociolinguistic notions of linguistic Essay

Discuss with examples the sociolinguistic notions of linguistic heterogeneity and linguistic homogeneity in the speech community - Essay Example First of all, let us define sociolinguistic notions of a speech community, linguistic heterogeneity and linguistic homogeneity and then proceed to the examples of linguistic heterogeneity and linguistic homogeneity in a speech community within the context of sociolinguistics. It must be noted that the definition of speech community sparks controversy among notable linguists to date. Early definitions of a speech community proceeded from the basis that a speech community is a group of people residing within the area of compact settlement, which is densely inhabited by those who share the same vernacular language and tend to use the same standardized language for communication. According to the notable American linguist, William Labov, who is regarded to be the father of such discipline as variationist sociolinguistics, a speech community is a group of people who share the same language norms that do not depend on social context changes.1 However, it is important to understand that the dependence of a language on social processes can be manifested in a set of different language subsystems (i.e. forms of existence and functioning of a specific language), bilingualism or diglossia, availability or nonexistence of a written language, language policy, etc. These are important but not exclusive manifestations of the connection between a language and conditions of its functioning. Lexicon, grammatical structure and the evolution of linguistic styles exert a substantial influence upon the use of language within a speech community as well. A speech community tends to share a certain set of norms of the language use, which is manifested in the process of communication within the framework of a certain group of people who are bounded by the same lifestyle, profession, interests or represent the same social stratum, which resulted in a long-term delusion, according to which a speech community is always characterized by linguist ic homogeneity. However,

Love. Operations Management Essay Example | Topics and Well Written Essays - 1750 words

Love. Operations Management - Essay Example It also ensures that business operations in an organization are efficient, that is, using few resources effectively for production and having a maximum output. A process design (layout) is the arrangement of facilities in an organization that has the same functions and brings together similar activities. The importance of the layout is that it minimizes the functions that are related to travels, which means the total material cost in travel time and distance is reduced. For example, layout problems involve the location of facilities in a plant. Other important factor includes flexibility, motivation and system protection. In an organization like IKEA layout contributes to the total efficiency of operations and will greatly reduce the total operation cost by over 50%. Hayes and Wheelwright came up with a capability and maturity model that explains how an operation could move from being a barrier to strategic success (Hill and Jones, 2011). Stage one is about being an innovator and creator of opportunities and the last stage suggests that operation capabilities should improve so as to make the strategic impact on the operation function. This model is important to organizations since it provides a way of moving from being a barrier to achieving success. Material requirement planning (MRP) is a technique that assists an organization in a detailed planning of its production. The importance of MRP is that it ensures all products and materials are in line and helps in planning a manufacturing scheme. If a company is planning to excel in its objectives, it should look for the best performance strategies at place; ranging from 4vs which are volume, variation, visibility and variety, performance objective and market requirement planning. The secret to a customer’s satisfaction at IKEA lies in the 4v’s strategy. If a company wants to perform in the sales market, it must consider all aspects of the 4v, volume

Global Macroeconomic Imbalances And The Financial Crisis

Global Macroeconomic Imbalances And The Financial Crisis The world experienced the global financial crisis between 2007 and 2008. This crisis led to the threat of collapse of mane large financial institutions, down turns of major financial market in the world and bailouts of banks by difference governments in the world. One of the areas that suffered most from the effects of the global financial crisis was the real estate sector, which most argue that it must have also contributed to the crisis. This crisis also played a significant role in the failure of many key businesses around the world. One of the consequences of these business failures was the rise of high rate of unemployment around the globe. It also contributed to the decline in consumers wealth and the down turn in economic activities around the globe, which eventually led to the global recession between 2008 and 2012. Other negative effects of the global financial crisis include the rise of the European sovereign debt crisis and liquidity challenges experienced from 2007 (Obstf eld and Rogoff 2009). Many reasons have been suggested as the main contributors to the global financial crisis. Some of these reasons include the existence of easy credit conditions in the global financial markets, growth of the housing bubble in the United States of America, predatory lending, over leverage, and incorrect pricing of risks among others (Ferguson and Schularick 2009). Although many controversies remain about the role of the global imbalances on global financial crisis, it is clear that there exists a connection between the two. Those who are against the idea of the role that global imbalances played towards global financial meltdown argue that external pressure could not have played any role in the crisis. The reason they give as the main cause of the financial crisis was the failure of financial regulators to effectively control financial institutions and markets in the United States of America and globally. They also argue that policy errors could also have played a significant role in t he crisis. However, those who support the view that global financial imbalances could have played a role in the global financial crisis suggest various mechanisms through which global imbalances could have had a significant role in causing the collapse of the financial system in the world. Some of these mechanisms include the high savings of china, oil exporters and other surplus countries, which depressed real interest rates globally. The depressed global real interest rate is thought to have led investors to scramble for yield and to under price the risk. The connection between the global imbalance and the global financial crisis may also have originated from economic policies employed in a number of countries globally before the crisis. There was also the existence of distortions that played a role in the transmission of these economic policies through the United States of America and finally through the global financial markets (Ferguson and Schularick 2009). United state of America policies contributed immensely to the crisis. This country had the ability to finance her macroeconomic imbalances from easy foreign borrowing. As a result of this, the country failed to come up with tough policy measures that could have prevented the crisis. This was also the same case with other major countries that experienced deficit before the crisis. One of the alternatives source sought by the United States of America to finance her deficit was foreign banks, which provided a ready source of external funding. The main source of motivation for these foreign banks was their high appetite for assets. Prior to this period, the United States of America employed loose monetary policies, which allowed the country to borrow in dollars at low nominal interest rates. These policies also created an environment in which the asset-price movement and the exchange rate kept United States of America foreign liabilities growing at a rate that was far below its cumulative current account deficit. The case of the United States of America was similar to what was experienced in many other countries around the globe, which had current account deficit prior to the global financial crisis (Ferguson and Schularick 2009). Countries with current account surpluses on the other hand, faced minimal pressures to adjust. For instance, China was able to maintain an undervalued currency and therefore, defer to rebalance its own economy due to its ability to sterilize the immense reserve purchases,which it placed in the United States of Americas markets. Therefore, complementary policy distortions kept United States of America artificially far from her higher autarky interest rates and China artificially far from her lower autarky interest rates. It was possible therefore, to either contain or mitigate the global financial crises had low-cost postponement options not been available. The action of china to undervalue her currency may have also played a significant role in the global financial crisis that followed in between 2007 and 2008. This together with the undervaluation of the exchange rate contributed to the global imbalances (Obstfeld and Rogoff 2009). Therefore, it is clear that external imbalance were a reflection of internal imbalances in many countries. The connection between the global imbalances and the exchange rate undervaluation means that the problem could not be resolved automatically without involvement of significant exchange rate adjustments. The labor rate in china prior to the global financial crisis was far below the countrys Gross Domestic Product (GDP). Cheap relative production costs in China supported the profitability and investment in manufacturing industry. The loss of competitiveness in this country was avoided through the availability of excess labor or organized wage restraint (Ferguson and Schularick 2009). China employed policies that were aimed at promoting export-led industrialization. The policy of real exchange rate undervaluation and reserve accumulation in China could not automatically be collected by inflation due to the pervasive role of the state in the countrys financial sector, large supply o f surplus labor and the effectiveness of capital control. All this created an environment that enabled china to accumulate massive reserves of foreign currency as well as create current account surplus. This action of the Chinese country may have contributed to the global financial crisis experienced in 2008. According to Ben Bernanke, the Chairman of the Federal Reserve, a saving glut in the Asian economy as well as other exporting countries is primarily responsible for the current pattern of global macroeconomic imbalances. In providing support for his argument, Ben argues that the Asian turbulence of 1996 formed the genesis of the global imbalance. He points at Thailand which had for a long time maintained a fixed exchange rate of her currency against the United States of Americas dollar. However, there was a rapid credit expansion in the Asian countries, which fuelled bubble in stocks and real estates (Obstfeld and Rogoff 2009). This credit expansion took place within the liberalized financial system. In Thailand, the current account deficit reached about 8 percent of the countrys GDP as the rising prices of assets reversed the course. The country also experienced a fierce speculation of currency which led to the breaking up of the countrys currency peg against the dollar. This crisis was contagiously transmitted to other countries in Asia, many of which seemed healthier fundamentally than Thailand. Under this pressure, the Asian banking system faced financial crisis. To avoid eventual collapse of the banking system, most of those countries that faced the crisis turned to the international monetary fund for assistance. The conditions placed by the international monetary fund as the requirement for financial assistance left bitter memories in these countries (Ferguson and Schularick 2009). Afterwards, the developing countries as well as the newly developed countries in the Asian world went into surplus although most of them had weaker currencies than before the crisis. The dissipation of the recessionary effects in the Asian countries and the boom of dot com led to the rise of commodity prices globally. This further helped to generate surpluses for the oil producing countries in the Middle East and the commonwealth of independent countries. The case was different in the advanced countries which operated on the current account deficit. For instance, the United States of America ran on a deficit of about 4.3 percent in 2000. There was persistent growth of surpluses in the Asian countries and the oil producing countries. However, in this newly industrialized Asia, the gross savings did not change substantially after the crisis although there was a considerable decline in the investment. In contrast, the savings in the developing Asian countries initially returned to the same level as before the crisis. This was followed by rapid growth in savings which peaked at about 47 percent of the GDP (Obstfeld and Rogoff 2009). The case was the same as far as gr oss investment was concerned. The investment returned to the pre-crisis level and then rose significantly thereafter. These current account surpluses were supported by the exchange rate policies, which tended to maintain rates at competitive levels different from what was the case in the pre-crisis period. Foreign exchange intervention policy in Asian countries was motivated by the need to pursue export-led strategies for maintenance of high economic growth rates. There was also the need to accumulate substantial stock of international reserves as a buffer against future financial crises. This was considered to be necessary in order to avoid a possible future dependence on International Monetary Fund. Therefore, some countries such as Saudi Arabia maintained pegs to the United States of Americas dollar. This further helped in the growth of the global imbalance that finally was responsible for the global financial crisis in 2008 (Ferguson and Schularick 2009). Further, these countries devalued their currencies against the United State of Americas dollar. Therefore, these countries remained at depreciated levels compare to the period prior to the crisis. The intervention policies by the Asian countries were responsible for the rapid growth of international reserves in these countries (Obstfeld and Rogoff 2009). Another factor that may have contributed to the global imbalance and eventually the global financial crisis was the speculation against the overvaluation of the dollar during the closing years of Bretton Wood System. This speculation led to the growth in international reserves and the high global inflation that followed thereafter. The reserve growth in the United States of America also led to the increase in the prices of commodities, housing and other assets in the country and other countries. The Chinese reserve accumulation outstripped even the growing current account surplus. The balance of payment surpluses was further augmented by the strong inward of Foreign Direct Investment (FDI). Therefore, economic policies and market developments played a significant role in the generation of current account surpluses (Ferguson and Schularick 2009). This in turn led to rapid accumulation of private and public claims on industrial countries especially the United States of America. According to Bernanke, the outward shift of emerging market saving schedules was the principle cause of expansion of the United States of Americas deficit starting in the 1990s. This global saving glut led to the worldwide asset price adjustments, which induced a number of advanced economies such as the United States of America to borrow m ore heavily from foreign sources. Other economic factors that contributed to the global financial crisis include equity prices. United States of America experienced heavy capital inflow from emerging market savers. This led to a large appreciation of the stock prices and the value of the dollar. This implied wealth and international competitiveness effects and a large deficit in the United States of Americas current account. Saving in the United States of America was further discouraged by the expectations of the rapid future productivity growth. These expectations encouraged investment. Another factor behind the global financial crisis was the falling real interest rates in the United States of America and other advanced economies (Ferguson and Schularick 2009). This low rate of interest contributed to the decline in savings. There was also the fall of long-term interest rates which brought down the mortgage rates in the United States of America and other countries in the world. Allan Taylor in his article The Financial Rebalancing Act argues that even without any government intervention, these global imbalances are likely to stop increasing at the same pace and may even decease. He further argues that the economists and the policy makers risk fighting the last battle even as a new post crisis economy emerges with its own set of challenges. According to him, this will happen as a result of emphasizing the importance of these imbalances. For the long-term solution to the imbalances, the view of Taylor is correct. Imbalances will create counterparts conditions in different countries which will eventually bring this countries current accounts into equilibrium(Taylor 2011). For instance, one factor that has led to the global imbalance is the devaluation of currencies by some countries. This policy has enabled countries that follow such policies to create current account surpluses. It has also contributed to huge capital investment in countries with current account deficit. In the long term, the interest rate in the deficit countries will cease to be attractive and therefore, discourage further foreign investment. The low demand for dollar as a result of this will lead to the depreciation of the dollar relative to the currencies used by the surplus countries(Taylor 2011). This will lead to the reduction in the level of surplus and the deficit in respective countries. Some of the policies that countries can employ to correct global deficit include reorientation and coordination of fiscal policies, addressing financial markets instabilities, alignment of macroeconomic and structural policies for sustainable development and dealing with job crises through g lobal rebalancing. The EURO Crisis Economic crisis has on numerous occasions hit the world and the factors that have contributed to the crisis either directly or indirectly. It is worth noting that financial crisis is as a result of a combination of complex factors which include internal trade imbalances, high risk lending as well as borrowing among others. However, one of the financial crisis that shocked the EUROZONE and has had profound impact is the EUROZONE crisis; various scholars as such have come forth with different schools of thoughts concerning the crisis. One such scholar is Martin Feldstein argues that the current crisis of the European single currency was an accident waiting to happen. To him he argued that the development of such economic structure was a ruthless, politically motivated experiment. Similarly the present problems facing member countries as a result of leaving country-specific economic policies and individual exchange rates were predictable by economists politicians chose to ignore them (Feldstein, 2010). The paper will give the views of the researcher whether he agrees or not with Martin Feldstein argument. In doing so, the researcher will critically look into arguments for and against adopting a single currency economy. Additionally the major factors deemed to be responsible for the crisis of confidence in the EURZONE. Martin Feldstein argument and my views With regards to EUROZONE crisis Martin Feldstein strongly believed that indeed the adoption of a single currency was an accident waiting to happen. The unpleasant cost of adopting a single currency on a incongruent group of countries were at first concealed by the short-run advantages that the weakest countries enjoyed when they adopted the euro in 1999 and by the favorable global economic conditions that prevailed until 2008 (Feldstein, 2010). In order to support or refute the claim, it is important to first examine the pros and cons of adopting a single currency economic structure. However it is important to understand the beginning of the crisis. The crisis in the zone started immediately the financial markets lost confidence in the creditworthiness of Greece and other periphery countries; this resulted in interest rates on government bonds going higher to levels that compelled the affected governments to ask for bailouts from international community, the European Community and th e IMF. EUROZONE adopted single currency back in 1999 with the aim of empowering the member countries economically as well as politically. This is after the region tracked greater financial integration since 1957. There are two main categories of the advantages that come with the adoption of a single currency in the EUROZONE both leading to gains in economic efficiency. One important importance of such a concept is that the transaction cost will be eliminated. Usually transaction costs are manifested in several ways for instance fixed commission as well as the spread between the buying and selling prices of any given currencies. It is worth noting that for the member countries which operate business with others in the same region, then the currency conversion cost is done away with for the member countries which are vital for both individuals as well as firms doing business with foreign partners (Rose Wincoop, 2001). On the same note a single currency ensures that there is a ground to compare prices, making price differences more noticeable as well as equalization across the borders. Scholars in the field of economy have held that the absence of transaction costs as well as transparency in prices creates a deep and more integrated financial market. This type of integration makes it possible for member countries to have various channels used to share risks. For instance when a member country is hit by negative shock, firms definitely make losses which result in lowered stock prices, on the other hand when there is an economic boom in a another country, the stocks of firms in that country will go up contributing to profit making investors from the country hit by negative shock a new lease of life. Thus single currency allows country to share the risks of negative shocks. It has been argued that the justification for adopting single currency in EUROZONE is to avert the negative effects of exchanges rates. There is no doubt that uncertainty in changes in exchange rates hinders the flow of trade as well as investments. Thus in situations where business people are faced with trade opportunities or investment, they will be more attracted to countries where the risks of currency and interest rate changes are minimal(Artis, Hennessy Weber, 2000). However Feldstein, 2010 argued that a common currency means that every EUROZONE country has the same exchange rate, stopping the natural rate of adjustments that maintain national competitiveness when there are different trends in productivity and demand. As such he posits that this denies some countries the opportunity to raise the real incomes of her employees. In fact this is what EUROZONE is trying to discourage a scenario where some countries are extremely richer than others. Despite the advantages mentioned above, single currency has a number of disadvantages. First the system brings costs to firms, individuals and other institutions to adjust to the new currency. Usually these parties have to incur huge costs in changing the invoices, price lists, office forms, payrolls, databases, bank accounts, and meters for postage as well as parking among other things (Rose Wincoop, 2001). For countries which had weaker financially, they have to engage in excessive borrowing in order to carter for these expenditures. This as explained by economists is a recipe for economic crisis (Artis, Hennessy Weber, 2000). Secondly single currency economy means that there is no national monetary policy which has been a vital tool for states to adjust the economic equilibrium in situations where it faces economic shock. Usually economic shocks are unpredictable and unexpected and it characterized with disparity in production, consumption, investment as well as government expenditure (Feldstein, 2010). Factors responsible for the current crisis of confidence in the EURO zone There are a number of factors that played substantial role leading to the present crisis of confidence in the EUROZONE. Top on the list the inability of the government to service their debts. The debts resulted in heavy government spending and the desire to help those countries in problem to get out of the economic crisis. A typical example is Greece who received numerous loans for the purposes of bailing itself out of the economic crisis. However it emerged that the country was unable to service their debts (Rose Wincoop, 2001). Similarly other countries such as Italy and Portugal accrued debts at very high levels making them unable to successfully service their loans. Additionally member countries such as Spain found it difficult to roll-over maturity debt, this coupled with the fact that it was not possible for EUROZONE member countries to raise enough financial resource to rescue member countries such as Italy and Spain was too large contributed to the confident crisis in the reg ion (Yifu, L. Treichel, 2012). More importantly financial deregulation and liberalization contributed to the confident crisis. These two concepts enhanced the creation of new financial instruments as well as derivatives which made banks in member countries to raise leverage and to boost funds to be loaned. This in the end spurred a real estate as well as expenditure explosion (YifuTreichel, 2012). Similarly another contributor to the consumption bang is the single currency which eliminated currency risk by allowing the interest rates to be lower. The two concepts as well as the decline in interest rates led to increased inflows of money from core fall in interest rates contributed to large inflows of capital from core countries into periphery countries resulting in housing bubbles and surplus consumption. Conclusion From the review the paper has critically looked into the assumption that the adoption of a single currency is to blame for the recent EUROZONE crisis. However, looking at the advantages and disadvantages of the economic structure I beg to disagree with Martin Feldstein views that the current crisis of the European single currency was an accident waiting to happen. To my understanding, a host of factors contribute to financial crisis and it is wrong to lay blame on a single currency economy as the sole reason for the crisis. Similarly the major causes of confident crisis in the region include failure of government to service their debts, high level of unemployment as well as financial deregulation and liberalization. The Asian Curreny/Financial crisis The East Asia Currency/financial crisis were mainly caused by sudden shifts in market confidence and expectations. Since the macroeconomic in some countries had worsened in 1990s, the depth of the 1997-1998 crisis are not attributed to deterioration in fundamentals, but to panic on the international domestic investors, reinforced by the international financial community and response of the International Monetary fund faulty policy (Poser, 2008). The financial turmoil reflected policy and structural distortions in the countries of that region. The currency and financial crisis in 1997 was triggered by fundamental imbalances. Once the crisis started, herding and market overreaction caused the plunge of exchange rates, economic activity and asset prices to be more severe than the one which was warranted by the weak economic conditions. The macroeconomic imbalances in East Asia countries are accessed within structural factors: foreign indebtedness and current account deficits, savings and investment ratios, real exchange rates, growth inflation rates, budget deficits, and foreign reserves, measures of debt and profitability and political instability (Roubini, Pesenti, Corsetti, 1999). Principal factors responsible for the Asia currency/financial crisis The roots of the Asian crisis are evident on the structure of incentives under which financial sectors and corporate operated in the region, in reference to regulatory inadequacies and close relationship between private and public institutions. The Asia moral hazard magnified the financial vulnerability of the countries in the process of financial market liberalization in 1990s, showing its fragility in the financial and macroeconomic shocks that occurred in 1995-1997 period. This problem lead to the exhibition of three different yet strictly related dimensions at the financial, corporate and international level (Mengkni, 2009). For the corporate level, political pressures for maintaining high economic growth rates led to long public guarantee to private projects, where some of them were undertaken under control of the government, subsidized directly, or supported policies of credit to favor industries and firms. In the absence of explicit promises of bail out, the strategies and plans of production of the corporate sector overlooked riskiness and costs of the underlying investment projects. Having the industrial and financial policy enmeshed within a business sector network o political and personal favoritism, and with the government being ready to intervene for the troubled firms, markets were operated with the impression that to be back to the investment was some how insured against adverse shocks (Poser, 2009). This beliefs and pressures represented the underpinnings of a sustained process of accumulation of capital, hence resulting into sizable and persistent current account deficits. As we all know, borrowing from a broad to finance investments domestically should not lead to concerns about external solvency, but it can be the optimal course of action for economies which are undercapitalized with good investment opportunities. According to the evidence for the countries, in 1990s, it highlights that the profitability of the projects which were new was low. The capital inflows and investment rate in Asia remained high even after the negative signals which were sent by profitability indicators. This result was due to the interest rate which fall in industrial countries lowered the capital cost for inflows and motivated financial flows in these East Asian countries. The crucial factor which underlined the sustained investment was the moral hazard problems in the countries, hence leading the banks to borrow excess finances from abroad and lending excessively at home. The financial intimidation also played a crucial role in channeling the funds to projects which were marginally if not outright unprofitable (Roubini, Pesenti, Corsetti, 1999). In the Asian pre crisis, there is a long list of structural distortions in the banking and financial sectors. these are: low capital adequacy ratios, weak regulation and lax supervision, insufficient expertise in the regulatory institutions, lack of compatible-incentive deposit insurance schemes, distorted incentives for monitoring and project selection, non market criteria of credit allocation, outright corrupt lending practices, according to the model of relationship of banking that practiced semi monopolistic relations between firms and banks while down playing price signals. The stated factors lead to the creation of severe weaknesses in the undercapitalized financial system, with a growing share of non performing loans (Poser, 2008). The distortion consequences were magnified by the financial market deregulation and rapid process of capital account liberation in the region during the 1990s, which leads to the increase of elastic supply of funds from abroad. The liberalization of capital markets was consistent with low supply of funds to the domestic corporate and national financial institutions sector. This goal motivated policies of exchange rate aimed at reducing the domestic currency in terms of the US dollar; hence the risk of premium on dollar denomination debt is reduced (Mengkni, 2009). International dimension of the moral hazard problem was affected by the international banks behavior, which lead to crisis over a period had lent large funds to domestic intermediaries, with the neglect of standards for risk assessment. This over lending syndrome may have lead to short term interbank be effectively guaranteed by a direct government intervention in financial debtors favor, or by indirect bail out through IMF support programs. Again, large amount of foreign debt accumulation was in the form of unhedged, bank related short term, and foreign currency denominated liabilities. In the year 1996, a short term liability in the form of total liabilities above 50 percent was the norm in the countries. Also, the ratio of foreign reserves to external liabilities, which is an indicator of financial fragility, was above 100 percent in Thailand, Indonesia and Korea (Roubini, Pesenti, Corsetti, 1999). The implication of moral hazard is the adverse shock to profitability which does not induce financial intermediaries to be more cautious in lending and following the financial strategies hence reducing the riskiness of their portfolios. To be opposite, the negative implications of a future bail out gives a strong incentive to act on more risk. On this regard, several countries, specific and global shocks lead to severely deteriorate that the outlook of the overall economy in the Asian region. This exacerbated the distortions in place (Poser, 2008). Inevitability of the Asia Crisis The Asian financial crisis was inevitable because before the crisis, the Asia countries currencies were already depreciating and the growth was very slow. There was also a drop of stock markets and real estate, and speculative trends were fueled by foreign capital inflows. This led to outright defaults and wide losses in the financial and corporate sectors. Again, policy uncertainty which was stemming due lack of commitment to structural reforms by the domestic authorities made things worse. The rapid reversals of financial capital inflows on the summer of 1997 lead to regional currencies collapse hence the international and domestic investors panic (Mengkni, 2009). The timing of the crisis The timing of the crisis was in line with financial challenges of the East Asia countries. The economy of the countries was stagnant before the crisis began. Before the crisis, there was fundamental imbalance which was triggered by financial and currency crisis. Therefore, the timing of the crisis was in relation with the weak economic conditions experienced (Roubini, Pesenti, Corsetti, 1999).

The Role of the Visual in Todays Society Essay -- Architecture Buildi

The Role of the Visual in Today's Society The role of the visual in today’s society is quite apparent. Beautiful, flashy images are everywhere in the media, and all of them serve the same purpose. The purpose of all of these images is to get you, the consumer to buy the product that is being sold, or at least buy into the idea that a particular product represents. The role of the visual in modern architecture is very much the same. The purpose of the visual in modern architecture is to publicize or privatize a building through any media necessary to create the desired representation, and thereby sell the idea. In the case of Le Corbusier, the goal was to create a very visual and public architecture. He recognized that not everybody would be able to go and personally see his buildings, thus he decided to bring his buildings to them. Obviously Corbusier believed very strongly in the representational value of his buildings, â€Å"I prefer drawing to talking. Drawing is faster, and leaves less room for lies.† In this quotation Corbusier describes just how important the role of the visual is to him. Experience is not necessary, and neither is discussion, just visualization. In the case of Villa Savoye (Poissy, France 1928-1929) Corbusier created a building based upon his principles of architecture, and the idea of the house as a machine for living. These programmatic elements yielded a simple building that followed his five points of architecture (peloti, ribbon windows, a roof garden, free faà §ade, and free plan). The way in which he composes these elements and ultimately how he represents the building are what make this a truly interesting piece of architecture, instead of a place for storing hay (as the building was once used). The physical appearance of the building (what it would look like if we were to visit) was an attempt by Corbusier to create a truly mechanical building, â€Å"A house is a machine for living in†. The building is built in the middle of a completely flat field, upon which this foreign object is placed, described as â€Å"†¦looking as if a spaceship had landed†¦Ã¢â‚¬  The building itself contains many of the same elements that one would find in an ocean liner. Elements such as a roof deck, railings and the curvaceous walls of the roof deck which look like the smokestacks of a ship. While these elements help to create Corbusier’s desired image the wa... ...sen site were an attempt to privatize architecture. All of the photographs of the building that were taken are of the interior, and the comfortable and private spaces therein. Often the images contain furs, which were intended by Eileen Gray to personalize the experience of looking at a photograph. It was also supposed to, in effect bring the people viewing the photograph into her home. This would give them a chance to experience the building for themselves. This is shown by the very few pictures that are taken of the building as a whole, it isn’t about watching E-1027 is about experiencing. This is in direct contrast to Corbusier’s more voyeuristic beliefs about the visual. Although the visual can be used to many different ends in modern architecture, it is used mostly to sell an idea. In the case of these two architects the ideas were very similar and yet opposite. Corbusier chose to publicize his buildings in order to gain a wide audience, which he felt was important, while Eileen Gray on the other hand chose to publicize the privacy of her building. Both interpretations of the role of the visual in modern architecture are an attempt to sell a particular idea to the public.

Inequalities in Education Essay

The sociological study of education looks at the way different social institutions affect the process of education and how this impacts on students. Education is widely perceived to be a positive social institution where individuals can acquire knowledge and learn new skills. However, some would argue that this is not the case and that education produces an unequal society and is a negative institution where individuals are socialised to accept such inequality. This essay will explore the inequalities in education to establish how they occur. By examining Marxist, Functionalist and Interactionist perspectives, explanations for such inequalities can be understood. Historically, in Britain formal schooling was a preserve of higher social classes. Education was largely provided by private institutions, such as churches form the middle ages onwards, with an aim to provide the bureaucratic elite with a means to run government. The state first assumed full responsibility for education in 1870, with the Foster’s Education Act. In 1880, school attendance was made compulsory up to the age of 10, ensuring basic primary education for all. (Haralambos and Holborn, 2004) The state took responsibility for secondary education with the Fisher Education Act of 1918 and attendance was made compulsory until the age of 14. The formal leaving age was raised again on two occasions, in 1947 to 15, and to 16 in 1972. By 1900 only 1.2 per cent of pupils stayed in education after the age of 17 and by 1939, 5.8 per cent of pupils stayed in education past the age of 17, but it was not until the 1960s, when polytechnic universities were introduced, that everyone capable of benefiting from higher education was able to attend a higher education establishment. (Haralambos and Holborn, 2004) However, Margaret Thatcher’s Conservative government of the 1980s began to view education in terms of the needs of the economy and started to reduce state economic investment. Thatcher’s government had a general mistrust of the liberal and free-thinking culture of higher education institutes and began to restrict spending in Arts based subjects. (Haralambos and Holborn, 2004) The 1988 Education Act introduced the common national curriculum, which provided guidelines for teachers about what they were required to teach. (Giddens, 2001) The National Curriculum was introduced to ensure that everyone would re ceive the same basic level of  education. In western societies there is a general agreement that education should be based on an equality of opportunity. However, there is evidence to suggest that people with certain social characteristics succeed more than others. (Kirby et al, 1999) Sociologists have focused on social background to explain the relative failure of working class children compared to middle class children. Evidence suggests that the higher a person’s social class, they are more likely to achieve greater education success. The most obvious explanation for differences is the intelligence of the individual. The 1944 Education Act established the tripartite system. Children were allocated to one of three types of school, grammar, technical or secondary modern, on the basis of the results of an intelligence test, taken at 11 years, the eleven-plus. (Haralambos and Holborn, 2004) Grammar schools provided an education for those who performed highly on the eleven plus, while other pupils who has a lower score were taught in either a technical or secondary modern school. The eleven plus examination showed a correlation between social class, where more middle class children scored highly and therefore gained places at grammar schools. (Haralambos and Holborn, 2004) However, Britain has a differential educational system that gives people the right to privately educate their children if they wish and can afford to. League tables of schools, which are published every year, show consistently show private schools, such as Eton, Cheltenham Ladies College and Harrow, are the best achieving schools. Hans Eysenck, was a bio-psychologist who believed that genetics play a fundamental part in determining IQ. Eysenck wrote â€Å"What children take out of schools is proportional to what they bring to schools in terms of IQ† (Eysenck, 1971: Cited in Taylor et al, 2000) From this viewpoint it is possible to argue that class differences in educational achievement are largely based from class differences in genetically based IQ. However, most sociologist emphasise the importance of environmental factors in determining IQ differences, namely motivation, knowledge and skills, which are learnt rather than genetically predetermined. In this case class differences in educational attainment may be due to class backgrounds rather than class  genes. (Taylor et al, 2000) Many sociologists have also argued that the language used in IQ tests favours the middle classes, as it is closer to their spoken language. A variety of figures demonstrate the continued inequality in educational achievement by social class. The Youth Cohort Study, conducted in 2002, collected data on 7,238 18-year-olds. The results of the study show that 75 per cent of those with professional parents were still in education as opposed to 55 per cent of those whose parents have few skills. (Haralambos and Holborn, 2004) Not only were those with higher-class parents more likely to continue to education, their qualifications likely to be higher as well. Just 22 per cent of children of routine workers had at level three qualification compared to 65 per cent of those children with professional parents. (Haralambos and Holborn, 2004) With the election of the Labour government in 1997, there was a return to the concern of equal opportunities in education. The Labour party was elected on a promise to improve the education system. However, by the late 1990s, the language had changed with concern being expressed for social exclusion and improving standards rather than class inequality. (Haralambos and Holborn, 2004) Social exclusion relates to the alienation of certain groups, connected to a person’s class, living standards and education. The close relationship between low levels of education and social exclusion has been highlighted in recent years. Failure to acquire basic skills such as literacy and numeracy can place a person at a distinct disadvantage. Functionalists view society as being structured with many integrated segments which work together to form society as a whole. Each of theses segments, such as the economy, judiciary and education, perform crucial functions to satisfy the needs of society and create a harmonious society. Functionalists view education as one of the most important components of society. According to Emile Durkheim, education is the â€Å"influence exercised by adult generations on those who are not yet ready for social life.† (Durkheim, 2003, Page 28) Durkheim asserted that moral values are the foundation of cohesive social order and that the education system has a responsibility to teach a commitment to a common morality. (Kendall, 2005) Education has an  important role in the socialisation by enabling children to internalise social rules which contribute to the functioning of society. Talcott Parsons argued that the role of education is to instil the value of individual achievement in a way t hat the family can not. Education is the main source of secondary socialisation in the same way that the family is the main source of primary socialisation. (Giddens, 2001) In the modern society, individuals are judged by what they have achieved and schools prepare pupils for this by measuring success with graded examinations. For Parsons, schools operate on meritocratic principles, where pupils are treated equally and if pupils work hard they will achieve the most merit. This teaches children through the values of achievement and the value of equal opportunity, which is important for functionalists because it ensures that the best people will fill the most important positions in future careers. (Haralambos and Holborn, 2004) Individuals will accept their position as they believe that everyone has been given the same opportunities through education. Pupils will achieve success through ability and hard work irrespective of other social factors, such as social background, ethnicity and gender. While the funct ionalist view of education is very positive, predominantly issues of inequality are denied. Marxists have a very different view of the purpose of education. Marxism is a structural perspective of society, which focuses on the class struggle and exploitative relationship between the ruling class and the working class. The struggle begins with the opposing interests of the ruling class, who control the economy, and the working class who sell their labour to earn an income. (Giddens, 2001) Bowles and Gintis write from a Marxist perspective, which is highly critical of the capitalist society. Like Karl Marx, Bowles and Gintis argue that work in capitalist societies in exploitative and alienating for the workforce. The main role of education in the capitalist society is in the reproduction of labour power. The first and major role of education is to provide the capitalists with a workforce with personality and attitudes most useful to them, or more simply, a subservient workforce. (Haralambos and Holborn, 2004) The education system helps meet these needs and objectives through the hidden curriculum. It is not what pupils learn from lessons and examinations that is important, but the form  the teaching takes and the organisation of the school day. The hidden curriculum shapes the future workforce by promoting subservience, encouraging an acceptance of hierarchy, fragmenting lessons and motivating students with external rewards as opposed to the pleasure of learning. (Haralambos and Holborn, 2004) With the acceptance of hierarchy, pupils learn to take orders, obey them and accept they have little control of the subjects they study, all in preparation for the relationships they will have with future employers. Bowles and Gintis believe that the formal parts of the curriculum correspond to the needs of capitalist employers by providing a surplus of skilled labour. (Haralambos and Holborn, 2004) Marxists reject the view that the education system is meritocratic and believe that social class is the most important factor influencing achievement. While Marxism and Functionalism focus on how society affects educational attainment, interactionist sociologists look at how individuals can shape their own experience. Labelling theory was developed by Howard Becker in his study of deviance but was later applied to the way teachers interact with their pupils. Becker wrote from an interactionist perspective, which is a non-structural approach to sociology and emphasises an individual ability to control actions. (Giddens, 2001) Becker interviewed sixty teachers from Chicago and found that they have a tendency to share the same picture of an ‘ideal’ pupil. The ‘ideal’ pupil is highly motivated, intelligent and well-behaved, pupils who were judged to be closest to this ideal were likely to come from middle class backgrounds. Those furthest away from the teachers ‘ideal’ were most likely to come from working class backgrounds (Taylor et al, 2000) As a result those from working class backgrounds were labelled as having a lack of discipline, unmotivated and unlikely to achieve. These labels can have a significant effect on their educational success in the result of a ‘self-fulfilling prophecy’. A self-fulfilling prophecy is a prediction that directly or indirectly causes itself to become true. For example if a teacher tells a pupil that they are not very good with English frequently, it is likely the pupil will underachieve in English classes and examinations. (Taylor et al, 2000) Although, labelling theory seems to hold true and have resonance in practical scenarios, it is probably too  simplistic to explain educational inequalities in full. The theory largely implies that individuals have control over their life and ignore structural influences on the individual. Meritocracy holds that all pupils have an equal opportunity to succeed irrespective of background; statistics seem to disprove this notion. The key factors leading to educational inequality seem to be related to economic background. Functionalists argue that schools operate meritocratically, a Marxist would say that this is just an ideology that does not work in practice. The ideology makes people believe that the educational system is fair but really only serves the interests of the ruling class. M.S.H Hickox questions the Marxist view that there is a close correspondence between education and economic developments. For example, compulsory education was introduced after the onset of industrialisation, so for a long time capitalists did not employ a workforce that had been shaped by the ‘hidden curriculum’. (Haralambos and Holborn, 2004) The formal curriculum is not designed to teach the skills needed by employers or create uncritical passive behaviour, which would make workers easier to exploit. Subjects, such as A Level Sociology, do not promote an unthinking student but in actual fact promote critical thinking. However, Marxists argue that educational institutions transmit a dominant ideology which serves the interests of the ruling classes. (Giddens, 2001) Functionalists argue that if students work hard and are able they will achieve. However, the relationship between academic achievement and occupational reward is particularly close. Many students leave university and are unable to find suitable employment and income seems to be only weakly linked to qualifications. (Giddens, 2001) The hidden curriculum is supposed to promote subservience in pupils, this ignores the fact that many teenage pupils have little regard for rules and respect for teachers. Labelling theory may be more appropriate for understanding this type of behaviour. Durkheim assumes that societies share the same values which can be transmitted through the educational system, which is untrue in todayâ€℠¢s multi-cultural society. Many inequalities in education can affect achievement and success, which appear to be related to economics. Functionalists view education as a  meritocracy where all individuals have an equal opportunity to succeed irrespective of social differences. However, Marxists strongly disagree with this and believe that it is almost predetermined before a pupil starts school whether they will achieve or not. Interactionists believe that personal experience of schooling is important for determining success or failure. However, no theory offers a plausible and complete explanation for educational inequality. Personally, I believe that a compromise between social action and Marxist theory should be made to address educational inequality. I am personally not convinced that there is any particular merit to functionalist theory, as it appears to deny issues of inequality. References Durkheim E (2003) Moral Education, Reprint Edition, Dover Publications Inc, LondonGiddens A (2001) Sociology, Fourth Edition, Polity Press, LondonHaralambos and Holborn (2004) Sociology: Themes and Perspectives, Sixth Edition, Harper Collins, LondonKendall D (2005) Society in Our Times: The Essentials, Fifth Edition, Thomson Wadsworth, ChicagoKirby et al (1999) Sociology in Perspective, Heinemann Educational Publishers, LondonTaylor et al (2000) Sociology in Focus, Causeway Press, Bath

30 Wordy Phrases Beginning with In

30 Wordy Phrases Beginning with In 30 Wordy Phrases Beginning with â€Å"In† 30 Wordy Phrases Beginning with â€Å"In† By Mark Nichol Among the scores of verbose constructions that can be whittled down (usually) to one word with no loss of, and often with a net gain in, clarity are those phrases in the following sentences beginning with in. The replacement words are not necessarily the only (or the best) choices, and the sentences could be further refined, but employ this list to help you be on the lookout for that is, be aware of phrases like the ones presented below. They need not be automatically excised, but examine your writing for an abundance of such prolixity, and revise at your discretion. 1. Please submit your report in advance of the meeting. Please submit your report before the meeting. 2. We received a check in the amount of $1,000. We received a check for $1,000. 3. We’re implementing this policy in an effort to streamline our process. We’re implementing this policy to streamline our process. 4. Which section is this question in connection with? Which section is this question about? 5. Do not use in excess of the recommended dosage. Do not use more than the recommended dosage. 6. Are you in favor of the new system, or do you oppose it? Are you for the new system, or do you oppose it? 7. Use Form BFF in lieu of Form OMG. Use Form BFF instead of Form OMG. 8-9. Improvement will be noted in most cases (or instances). Improvement will usually be noted. 10. They have changed the procedure in order to reduce the necessary steps. They have changed the procedure to reduce the necessary steps. 11. She is attending the meeting in place of her vacationing supervisor. She is attending the meeting for her vacationing supervisor. 12. I am in possession of damning evidence. I have damning evidence. 13. They are in proximity to the epicenter. They are close to the epicenter. 14. We are in receipt of your letter. We received your letter. 15-17. I wasn’t sure what the question was in reference to (or regard to or in relation to). I wasn’t sure what the question was about. 18. You will notice these side effects in some instances. You will sometimes notice these side effects. 19. In spite of the fact that the box was clearly labeled, he could not find it. Although the box was clearly labeled, he could not find it. 20. In terms of reducing costs, the strategy has been a failure. The strategy has been a failure in reducing costs. 21. In the absence of Smith as manager, Jones was left in charge. Without Smith as manager, Jones was left in charge. 22. In the case of duplication, rename the older file and place it in the Archive folder. If duplication occurs, rename the older file and place it in the Archive folder. 23. We were speaking in the context of yesterday’s discussion. We were speaking about yesterday’s discussion. 24. In the course of the session, little progress was made. During the session, little progress was made. 25. In the event that no decision is made, the current procedure will remain in effect. If no decision is made, the current procedure will remain in effect. 26. In the final analysis, it is up to us to decide. Ultimately, it is up to us to decide. 27. He will return in the near future. He will return soon. 28. It took in the neighborhood of two weeks to complete. It took about two weeks to complete. 29. They are in the vicinity of the headquarters now. They are near the headquarters now. 30. In view of the fact that you suggested it, I think you should propose it. Because you suggested it, I think you should propose it. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Writing Basics category, check our popular posts, or choose a related post below:Cost-Effective vs. Cost-EfficientAnyone vs. EveryoneCaptain vs. Master

Everyday Use and Two Kinds essays

Everyday Use and Two Kinds essays Moments of realization are important themes in the short stories "Everyday Use" and "Two Kinds." Both stories describe characters that undergo a change when they gain a broader understanding of life. By creating situations that allow their characters to discover something important about themselves, Alice Walker and Amy Tan help us understand how Both stories focus on mother and daughter relationships. In "Everyday Use," Walker demonstrates how a mother discovers the truth about her two daughters and herself as well. For instance, in the beginning of the story, the narrator describes Maggie as "a lame animal, perhaps a dog run over by some careless person . . . sidle up to someone who is ignorant enough to be kind to them" (1423). However, she changes her mind about Maggie, after she offers Dee the quilts. This action causes the narrator to feel something like the "spirit of God" (1428) that makes her happy and makes her want to shout. (1428) The mother realizes that looks are not everything and despite how Maggie looks and acts, she is a better person than the pretty Dee. She also realizes how she is content with her life just as it is, regardless if Maggie approves of it or not. Similarly, Jing-Mei struggles with her mother's attempts to turn her into something that she is not. For example, she forces her to pay the piano, which makes Jing-Mei feel as thought she had been "sent to hell" (146). Jing-Mei resists her mother's desire so much, that she sabotages herself. She admits that she might have been a good pianist at an early age, but she was "so determined not to try" (148). It is only after her mother's death that Jing-Mei appreciates her efforts. She reconciles the pleading child she was with the contented adult she has become by realizing her mother was only trying to help her. In conclusion, both stories revolve around life-changing realizations ...

MAI Systems Corporation Case Study Example | Topics and Well Written Essays - 2000 words

MAI Systems Corporation - Case Study Example Recently, Softbrands purchased the Company back in August 2006. Since its inception in 1957, the Company has gone through significant changes. Being an opportunist and thanks to IBM and the Justice Department in 1956 when the entire computer industry was under the monopoly of IBM, Walter R. Oreamuno and his associate came up with an idea of re-purchasing the computer equipment from IBM customers and leasing it back to the customers at a lower rate than what was being offered by IBM. This idea was a great boast to the MAI's growth but did not last that long. During this time, the Company opted for an IPO with an Not realizing IBM's strategy of depreciating its punch card equipment and the innovation of 360 third generation computer, MAI invested substantially in the older equipment that resulted in MAI's growth to stall. During 1967, a major setback on merger plans with Transamerica, Oreamuno stepped down as the CEO and was replaced by Luther Schwalm an ex-IBM veteran. With a shift in strategy, the earlier investment in the older IBM equipment did not prove to be fertile, Schwalm decided to write-off the outdated older equipment. MAI's cash flow was impacted so substantially that its net worth in 1970 was negative $ 28 million. Oreamuno's decision proved out to be so wrong that even Schwalm was unable to bring the Company out of trouble. It was that when in 1971 MAI's CFO took over as the President. With a new strategy, Kurshan reorganized MAI into a holding company with various subsidiaries. Basic/Four and Sorbus subsidiaries of MAI did well in bringing MAI back to life. Sorbus took advantage of MAI's existing 1,200-person maintenance staff as its core, and expanding from there. Basic/Four was a major success instantaneously. In 1972, Basic/Four introduced the first multi-user transaction-processing mini-computer to use the Business Basic language. Basic/Four's revenue grew up to $43 million, and it was contributing around two-thirds of MAI's tot al earnings. Focused on software products, MAI in 1977 took over acquired Word stream Corporation. This company was producing word processing systems and IBM-compatible CRT terminals. MAI shipped its 10,000th computer system in the year 1980. The market for these computers began to shift drastically at this time, and small companies were turning to cheaper, newly available personal computers instead of the mini-computers that had been Basic/Four's forte. In 1983, the company introduced its MAI 8000, a super-minicomputer nearly as powerful as a mainframe computer, which was proficient enough of servicing up to 96 users at one time. In 1984, a New York-based investor Asher Edelman purchased 12 percent of MAI's stock. Edelman by means of a proxy war for control of the company won four seats on MAI's ten-member board of directors. In the course of the proxy battle, Edelman received a settlement in the $1 million range following a libel suit filed against MAI concerning company advertisements. During April 1984, MAI International Corporation, the company's worldwide marketing arm, was folded into