Wednesday, July 31, 2019

What Was the Main Cause of the Financial Crisis in 2007-2009?

The intention of this essay is to provide an in depth and critical analysis of the financial crisis that took place between 2007-2009, in particular focusing on some key issues raised by the Foote, Gerardi and Willen paper ‘Why did so many people make so many Ex Post bad decisions? ’ Whilst there were many contributing factors, it is clear that a specific few played a particularly dominant role, primarily the ‘Bubble Theory’, irresponsible regulation, toxic CDO’s and $62 trillion of CDS’s. ‘That’s what bubbles are: they’re examples of mass delusions’ (Norcera, 2011).Bubble theory’s are by no means a new school of thought, in fact they date back to the Dutch Tulip bubble in the 1630’s and it is these types of bubble that are believed, by many economists, to be the primary cause of the foreclosure crisis. The bubble theory explains the crisis as a natural progression of overly optimistic price expectations for a particular asset class, recently the US housing market. When the housing bubble began to enlarge, lenders were lulled into a false sense of security, which lead to large amounts of credit being extended to ‘sub prime’ borrowers, people who had shady or uncertified credit history.However due to the inflating house prices the banks seemed to have little concern towards the credit being repaid. Although this credit was issued to subprime borrowers through the securitised credit market, securitisation was not necessarily the definitive cause of the crisis, but what it did was act as a catalyst allowing borrowers and investors to undertake their desired transactions. With this appetite for risk from lenders and interest rates being cut to 1% by the Fed, institutional investors were eager to chase higher returns.The opportunity encouraged investment banks to anti up their leverage and create a higher yielding product which was directly linked to an ‘ever rising h ousing market’. The emergence of Special Purpose Vehicles (SPV’s) allowed banks to over leverage and buy mortgages which were then bundled together into a special purpose vehicle, proportions of these were then subsequently sold off as a Collateralised Debt obligations (CDO’s), ‘an investment-grade security backed by a pool of bonds, loans and other assets’. The theory behind this SPV was to reduce the lenders liability by pooling hundreds of supposedly ndependent mortgages, meaning that in the event of any mortgage defaults the loss would be contained rather than having a simultaneous effect on the other mortgages pooled within the CDO. Given that house prices were expected to continue along the bubble’s growth path, any losses from mortgage defaults would be naturally offset by house price inflation, or so they thought. Once the Investment banks had packaged these mortgages they then sought to diversify their liability by selling off the mu tual funds to external investors, some more bullish than others and hence the segregation of tranches within the CDO packages.The riskiness of each tranche was determined by the rating agencies, Standard and Poor/Fitch, which ranged from AAA (the lowest risk, but highest price) to CCC (the highest risk, but lowest price). In the event of any mortgage defaults, the highest rated tranche, the senior tranche, was paid out first and any subsequent losses were absorbed by the junior tranches, ie junior tranches were only paid once the other tranches had been paid. Given that the Fed had cut interest rates to 1%, the opportunity proposed by these CDO’s became increasingly more attractive.The excessive demand chasing CDO’s forced banks to lower their credit requirement standard, which inevitably lead to subprime lending. This access to the credit markets for those who ordinarily would have been declined credit meant that CDO’s were becoming filled with comparatively hi gh risk mortgages. This became increasingly problematic when borrowers began to default on their mortgage payments, the domino effect lead to the collapse of house prices and over 2million foreclosures.This left worldwide investors and banks with failing CDO’s who in turn also defaulted on their payments and lead to a global ‘credit crunch’. Even the largest of investment banks such as Goldman Sachs and Morgan Stanley were so confident in their products that they too maintained large holdings of ‘super senior’ tranches on their balance sheets, thus wiping billions of dollars of their balance sheets too. However whilst it is true that the bankers over zealous nature and thirst to maximise profits lead to the breaching of standards and forfeit of reliable credit checks, they were still allowed to do it.This leads to the plausible involvement of the credit rating agencies and the Governments lack of regulation and in some cases irresponsible regulation. A major concern surrounds the actions of US credit rating agencies, namely Standard & Poor and Fitch. Whilst they may not have anticipated the financial crisis, they, to a large extend suffered from institutional failure. The mathematical models that had been developed and used by the credit rating agencies were inadequate to deal with and provide accurate data concerning the riskiness of sub prime mortgages.The mathematical modelling teams continued to use traditional out-dated 30 year mortgages to asses the likelihood of default. Mortgages issued after 2004 were based on a different credit rating tool, know as FICO. A FICO score takes into account 5 factors to help determine a borrowers credit risk, length of credit history and the various types of credit used, the current level of personal debt, credit history, amount of new credit and passed payment history.These new mortgages were typically non documented adjustable rate mortgages and relied on the FICO score. It became appare nt that the agencies had minimal concern towards the investors. The rating analysts within the agencies expressed their levels of apprehension towards the reliability of certain ratings, but they were cut short and dismissed. The credit rating agencies were simply concerned with maintaining or increasing their market influence by doing their job and providing the ratings that their clients employed them to generate.In many cases these ratings were later downgraded within 6 months implying that their original job was either done with a lack of due diligence or there was an ulterior motive behind providing a flawless AAA rating. This was highlighted in the residential mortgage backed security Delphinus case study where 26 dummy loans were issued that were clearly not of AAA standard, yet sailed through as AAA. This leads us to the issue of the Government and their irresponsible lack of regulation towards preventing a financial crisis.The neoliberalist argument suggests that the US Gov ernment was a big player in the demise of the financial sector. The Governments irresponsible regulation of banks allowed the passing of the Community Reinvestment Act from 1977, ‘the law was designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low and moderate income neighbourhoods’ (Wikipedia). The law actively encouraged low income earners to take out mortgages to buy a house, which in reality they could not afford.To really tempt fate congress later allowed the act to be amended, allowing potential borrowers to opt out of income screening, therefore meaning that no credit worthiness was required to take out a mortgage. It is this link to the CDO market which allowed for such disaster to unravel, had this act not been so irresponsibly been amended, the banks would not have been able to bundle toxic debt and sell it as a repackaged CDO. In fact George Bush Junior actively en couraged it in 2002 when he campaigned for an additional 5. 5million low income homeowners by 2010.By actively holding interest rates below the well-known monetary guide lines it encouraged mass risk taking, not only was money cheap but low interest rates also offered very little return in the banks so investors sought alternatives which lead them to junk CDO’s and CDO2’s. However these junk CDO’s were only half the problem, whilst they were being actively encouraged they were also being bet on and against, implying a magnitude of leveraged risk. In the 1990’s J. P. Morgan developed a strategy to hedge their loan risks know as credit default swaps (CDS’s).Essentially a CDS is a bilateral contract between two parties that provides a level of insurance. A buyer would pay a yearly premium in order to protect the face amount of the particular bond or loan, but the CDS’s unlike a traditional insurance policy were subject to counter party risk onl y. This implication meant that if the counterparty was unable to pay or had gone insolvent then essentially the buyer was no longer covered. What it also allowed for was speculators to gain exposure to markets where they didn’t actually own the underlying assets or credits, which they were now betting on.The crux of the problem arose when CDS’s were taken out on the subprime mortgage securities, which had been largely over rated by the ratings agencies, therefore providing false information upon which the investment decision and insurance policies were taken. When the defaults started to roll in the likes of AIG and Bear Stearns had billions of dollars wiped off their books. To exacerbate the problem almost all the major investment banks and investment houses had insurance underwritten by Bear Stearns, which of course was now insolvent. This domino effect lead to multi billion dollar losses across the globe.The general belief amongst economists was that financial deriv atives and their purpose was to dilute individual risk through risk sharing amid investors. In theory it should create a more efficient allocation of capital and price transparency, it is the mass trading of these derivatives that became problematic and raised a cause for concern. However whilst it is true that CDS’s, CDO’s, a vast lack of regulation and inaccurate credit ratings all facilitated the collapse in the financial sector, it is not clear that they were the actual cause of the financial crisis.What is more evident of the actual cause is the fact that financial institutions and investors, as a whole did not foresee a collapse of housing prices. The collapse of house prices created mass negative equity and consequent defaults on subprime mortgages and also the falling face value of the subprime mortgage securitisations. Investment banks were particularly caught by surprise when the ‘super superior’ AAA rated tranches of CDO’s collapsed in va lue, given that they had relatively few defaults.Another factor which points to the root cause of the financial crises was the levels of excessive leverage combined with large holdings of subprime securitisations. The rapid and unexpected losses from these large investment houses lead to the markets questioning their solvency and so a mass culture of hoarding developed along with a fire sale of assets in order to deleverage their exposure. All this combined resulted in a squeeze of cash flow due to market uncertainty and lenders became unwilling to lend. This unfolding of events lead to the CDS and CDO market getting wrapped up and associated with large losses.It is for these reasons that the financial crisis developed and continues to develop implications for the future of the financial industry. References Nocera, Joe. 2011. â€Å"Inquiry is Missing Bottom Line. † New York Times, page B1. January 29 Journal of Economic Perspectives—Volume 24, Number 1—Winter 2 010—Pages 73–92 Credit Default Swaps and the Credit Crisis Rene M. Stulz Cordell, Larry, Yilin Huang, and Meredith Williams. 2011. â€Å"Collateral Damage: Siz- ing and Assessing the Subprime CDO Crisis. † Federal Reserve Bank of Philadelphia Working Paper Money morningFinancial Crisis Inquiry Commission. 2010. â€Å"Credit Ratings And the Financial Crisis. † Pre- liminary Staff Report, June 2, 2010 The Credit Rating Agencies and TheirContribution to the Financial Crisis MAUR ICE MULLARD http://www. investopedia. com/terms/c/cdo. asp#ixzz2BqfZ28TI Brunnermeier, Markus K. 2008. â€Å"Bubbles. † In The New Palgrave Dictionary of Eco- nomics, eds. Steven N. Durlauf and Lawrence E. Blume, second edition Foote, Christopher L. , Kristopher Gerardi, and Paul S. Willen. 2008. â€Å"Negative Equity and Foreclosure: Theory and Evidence. †

Tuesday, July 30, 2019

Oxidation Reduction Reactions

8. 07 Work File: Oxidation Reduction Reactions 1. What is the difference between an oxidizing agent and a reducing agent? The oxidation number (overall charge of the atom) is reduced in reduction and this is accomplished by adding electrons. The electrons, being negative, reduce the overall oxidation number of the atom receiving the electrons. Oxidation is the reverse process: the oxidation number of an atom is increased during oxidation. This is done by removing electrons. The electrons, being negative, make the atom that lost them more positive 2. When first learning to balance equations, we learned that the number of atoms of each element in the products and reactants must be equivalent. What are some additional factors that must be taken into account when balancing equations for redox reactions? Some additional factors that must be taken into account when balancing equations for redox reactions are: dividing the equation into an oxidation half-reaction and a reduction half reaction, multiplying each half-reaction by an integer such that the number of electrons lost in one equals the number gained in the other, and combining the half-reactions then cancel. 3. What are half reactions? A half- reaction is simply one which shows either reduction OR oxidation, but not both. 4. What two aspects of the half-reaction equations must be balanced? Oxidation and reduction charges 5. For the equation Ag + NO3 – ? Ag + + NO (Note: This reaction takes place in an acidic solution. ) Step 1: What substance is reduced? NO3 Step 2: What substance is oxidized? Ag Step 3: What is the half reaction for oxidation? Ag ? Ag+ + 1e- Step 4: What is the half reaction for reduction? (NO3)- +4H+ +3e- ? NO + 2H2O Step 5: What is the net balanced equation? 3e- + 3Ag + 4H+ + NO3? 3Ag+ +NO+ 2H2O+ 3e- Step 6: What is the reduced equation? 3Ag + 4H+ + NO3 —> NO + 2H2O + 3Ag

Monday, July 29, 2019

Strategic Management Essay Example | Topics and Well Written Essays - 250 words - 1

Strategic Management - Essay Example m the perspective of business and management therefore lies in its insight on the value of understanding the external environment and gaining constant information about how market behaves. Only those organizations can survive which develop the ability to know about their competition and continue to learn and become knowledge base. Knowledge based organizations make it necessary for themselves to accumulate knowledge and opposite views while at the same time ensure that they continue to develop their own ability to function. (Prusak) It is therefore critical for such organizations to ensure that they adapt best practices however, also retain their original way of doing things. This also suggests that it is critical for firms to continue to develop their core competencies while at the same time continue to focus on acquiring new knowledge and ways of doing things. (Hitt, Ireland and Hoskisson) This quote therefore is of significant importance in terms of ensuring that the organizations don’t become complacent and continue to evolve themselves. This would require them to acquire new as well as opposing ideas while at the same time continue to retain their ability to

Sunday, July 28, 2019

Check instruction Essay Example | Topics and Well Written Essays - 250 words

Check instruction - Essay Example 324). Islam had spread wide across the horn of Africa and the countries that lie north within two generations. Islam has been in African continent for many years since the formation of Arabian Peninsula. Although Sunni makes up the largest number of African Muslims, the complexity of African Islam is revealed in May schools of thought. Islam is not stagnant; it is constantly undergoing changes forced by economic, social and political conditions surrounding it. African Islam is commonly adapted to beliefs and cultural context of the local’s orthodoxies. Additions, both global and local; dimensions, are posed by Islam. The African Muslims mainly belong to the Sunni denomination. Despite this domination, a significant number of both the Shias and Ahmadiyya are also present. Many Sufis are known to be syncretic, and they practice Sufism with traditional folklore beliefs. Salafism is new, and it has started spreading in Africa due to many organizations and

Social Formations Essay Example | Topics and Well Written Essays - 750 words - 1

Social Formations - Essay Example Therefore by making their life hostile there, they would hesitate to migrate into their country hence preventing the alleged across the border terrorism they caused.This article mainly focuses on the Latin as people who cannot easily be incorporated into the society because they are slow to learn the new cultural practices in the new country they have moved into (Aguirre 440-1). Although this article is dated many years back in history, many security research scholars have based their arguments on it hence supporting its relevance. Some of them include huntington who published his article in the recent 2004 but supported the fact that if the USA has to tackle the problem with national insecurity, then it should regulate the entry of latin immigrants into their country. Huntington made these conclisions at acrucial time when America was in great war against the Al Qaeda terror group while investigating for the whereabouts of Osama bin Laden (Nuà ±ez 107-27). However some people pose a great opposition against this article claiming that it negatively affect the society and is not the best way to handle terrorism as claimed by the implementing country. Chavez, for example, criticizes the latino threat Narrative in the sense that he says it makes so many unreasonable assumptions about the latins which could pose a great danger to the society at large. According to him the Latins should be allowed into any society including the US and think of their positive effect n the economy and some other positive role they will have to play within their country. Americans should not discriminate the Latins on grounds that they take a long time to get into their system and adopt their culture. It should be understood that the Latins wiil still retain their identity while helping America grow in many aspects upto where it has reached in the present world. With time, the Latins even

Saturday, July 27, 2019

Prayer in School Essay Example | Topics and Well Written Essays - 750 words

Prayer in School - Essay Example I think that the government should be focused on the school's academics, not what religion they are to study. The proposed amendments would cause nothing but trouble considering that there would be many arguments on what beliefs should be taught. Religion is private and schools are public. Having any prayer in school goes against the basis in which our country was formed upon. America came into being because colonists wanted religious freedom. Our founding fathers carefully wrote the constitution to grant the freedom of separation of church and state. A prayer created and supported by a government violate the very essence of the spirit in which the US was formed. It was not until 1962, in the case of Engel v. Vitale, that the Supreme Court ruled that the voluntary prayer used to begin the day in New York public schools was unconstitutional. [Paul D. Kauper, 1963] The prayer, created by the New York Board of Regents, read, "Almighty God, we acknowledge our dependence on Thee, and we beg Thy blessings upon us, our parents, our teachers and our country."[Geoffrey R. Stone, 1983] The decision to ban school-sponsored prayer was "so unpopular that many school districts simply have disregarded it."[Greenawalt] In fact, a 1980 American National Election Study found that 72.1% of Americans believe that schools should be allowed to start each day with a prayer.[Kirk W. Elifson and C. Kirk Hadaway] Since the banning of organized prayer in public schools in 1962, the nation has been in steady moral decline. Divorce rates, teen pregnancy, violent crime, and drug use have all increased. Many school prayer supporters believe there is a direct correlation between the removal of prayer from public schools and the decline of morality. Religious conservatives are convinced that religious influence in the schools is necessary to teach students morals and values. Through their rulings, the court has also defined some times and conditions under which public school students may pray, or otherwise practice a religion at any time before, during or after the school-day, as long as your prayers do not interfere with other students. In meetings of organized prayer or worship groups, either informally or as a formal school organization. Before eating a meal at school -- as long as the prayer does not disturb other students. In some states, student-led prayers or invocations are still delivered at graduations due to lower court rulings. [Geoffrey R Stone] However, the Supreme Court's ruling of June 19, 2000 may bring this practice to an end. Some states provide for a daily "moment of silence" to be observed as long as students are not encouraged to "pray" during the silent period. As society goes we have things we would be better suited addressing than whether or not kids get to go to a crusade. Kids seem to have a better handle on it than we adults. If your kid gets out of school two hours to hear a nondenominational sermon why are you concerned There are far worse things for your kid to get out of school for. If your religion does not believe in a God then your kid should be firmly grounded in your faith that he cannot be swayed by listening to this. [Riley M. Sinder & John K. Lopker] Prayers in public school should be allowed as it may inculcate the belief that God exists. In today's world, many are turning out to be infidel and many are following

Friday, July 26, 2019

Economic Relations between Korea and China Essay

Economic Relations between Korea and China - Essay Example For centuries, China stood as a leading country, easily outpacing other countries in the arts and sciences. In the 19th century and early 20th centuries, however, China was overwhelmed by civil unrest, major famines, military defeats, and foreign occupation. It seemed like China would never catch up with the Western developed countries economically, but after the 1978 reform period, Deng Xiaoping, a hero of China, focused on market-oriented economic development and by 2000 output had quadrupled.There is no doubt that China has had tremendous effect on Korea economically, politically and culturally since early days of Korea due to proximity and Korean speaking ethic minorities living in China. We must not fail to indicate here that Korea here refers to both North and South Korea. Both of these republics have trade relations with China. South Korea and China normalized diplomatic and economic relations in 1992 and North Korea did so round about the same time.Although the relationship b etween Korea and China had ceased during the Cold War, the reestablishment of diplomatic relations had led to a surprisingly rapid growth of bilateral exchanges. Statistics show that Korean Foreign Direct Investment (FDI) to China has increased at very fast rate and continuous to increase as China has become the second most viable destination for investment after the United States. The development of economic relations between South Korea and China over the past decade has been dramatic... numbers, direct bilateral trade between Korea and the PRC has gone from $4.4 billion in 1991, the year before the normalization of relations, to $41.1 billion in 2002 and has already reached $39.8 billion in just the first three quarters of 2003."2China's entry into the WTO had caused them to grow quite rapidly. The recent brisk exports from Korea to China have also been a key factor in the economic growth of China. This growth had caused demand for electrical equipment, semi-conductors and communication equipments which are the main exports of Korea. For an example, North Korea's trade volume hit a new record in 2004, approaching $1.38 billion. North Korea's exports to China topped $582 million, up 47.2 percent compared with 2003. Imports totaled $795 million, up 26.5 percent from the preceding year. North Korea's total trade volume for 2005 reached nearly $2.9 billion. 3 This increase in North Korea's exports to China can be attributed to the increase in exports of crabs, fish, and shellfish; metal products; and textile goods. It is also interesting to note that the North's increase in imports from China is mainly attributed to the increase in the import of energy elements such as crude oil and foods such as frozen pork. Imports of different types of grains like rice and wheat are also noticeable.According to L. Gordon Flake, Executive Director, Mike and Maureen Mansfield foundation, "Korea's imports from China are currently undergoing a structural transformation. China has begun to manufacture electronic components because China is undergoing rapid industrialization. It means that both Korea and China are entering into a highly a competitive market with regard to electrical equipments. This bilateral economic exchange between China and Korea can create

Thursday, July 25, 2019

Please answer in short paragraphs Assignment Example | Topics and Well Written Essays - 250 words

Please answer in short paragraphs - Assignment Example Health indicators can simply be defined as quantifiable characteristics of a population that researchers use as evidence to support the description of the health of said population. What happens is the researcher will use survey methods to obtain information about certain people in the population. This will be followed by use of statistical methods to generalize information to the entire population and finally use of statistical analysis to create a statement about the health of said population. Life expectancy is an example of a common health indicator used by the government. Cleverly et al explains that one reason for the continued rise in the cost of healthcare is the rise in the cost of goods and services associated with healthcare. These include workers and equipment. Another reason faced by hospitals is the total percentage of Medicare and Medicaid admissions. This is because neither of the two programs fully reimburses the cost of care. In a bid to reduce some of these costs, the current financing options, especially those offered by the government should be revisited. Regulation should also be put in place to counter the rising cost of goods and services used in healthcare. Gaps in regulatory design have been seen. Some basic regulatory functions may fail to be assigned to a regulatory body while others may not be underwritten by law. Research in India showed that weakness in the design of regulatory methods in the above-mentioned ways is the reason why regulation has failed.

Wednesday, July 24, 2019

Monique and the Mango Rains Essay Example | Topics and Well Written Essays - 750 words - 1

Monique and the Mango Rains - Essay Example She did this by saving lives and giving hopes to people in a place where giving birth was risky (Holloway 78, 2007). Kris majors on exemplifying the passion of changing the lives of women facing poverty and unhappy marriages. In this essay, the obstacles faced by Malian Minianka women in achieving higher status, and relating gendered inequality to anthropological concepts such as marriage, economy, and reproductive health issues are aptly discussed. Part 2; Gender Norms and Stratification in Mali In gender norms in Mali, the local culture in which Monique was brought up had strict guidelines that guided women on how to handle themselves. For example, the society was against the idea of using birth control pills; thus, she had to this secretly. The issue of health inequality was the core factor that caused the obstacles experienced by women in this region. In gender stratification, it is established that it is responsible for the maternity-related deaths of 500 000 women annually. The mortality rate for women losing their lives during birth was about 1 in every 12 women. Kris writes on how the region has the highest maternal mortality rates and highest fertility in sub-Saharan Africa. It is estimated that less than 6% of women in their fertility season used contraception, and women that suffered genital ablation was above 96% in their childhood. 1 in 5 children born die immaturely before they reach their 5th birthday. Part 3; Marriage Marriage in this region was not gender sensitive since women were limited in doing certain jobs and denied credit for their hard work in the society. For example, Monique failed to get support from her husband and was trapped in an arranged marriage. They were forced to stay in a marriage despite the problems they encountered since annulment was not encouraged in marriages. Women that divorced their partners were snatched their children. The marriage system was gender insensitive since men were perceived in the society as low and had no value in the society. They were strained into marriages at an exceptionally tender age; hence, facing the challenges of giving birth. Part 4; Economy According to the Kris, the socio-political issues and instable economy was another factor that increased the obstacles women had to face in the society. Women’s economy was low to extent that they could not access proper medical services. For example, Monique suffered from severe mouth pains and was unable to access apt treatment on her dental pains. Women received exceptionally low salary despite the amount of work they did in division of labor. For example, Monique worked incessantly by edifying the community on health issues, but was paid a low salary unfortunately (Holloway 11, 2007). Women in this region also lacked recognition despite the efforts they enacted to the society, and were also not given time rest. There was the lack of running water, skilled and trained doctors, and lack of adequate medical equipments especially for emergencies. Part 5; Reproductive Health Issues The obstacle faced by Malian Minianka women is receiving quality and apt health care services to secure their health. The book recounts the story of a local health worker located at Nampossela in Mali. Women at this region faced the intricacy of accessing apt medication from the government and nongovernmental organizations. Kris shows how Monique offered health care services like prenatal consultations, health demonstrations freely (Holloway 78, 2007). Others included; assisting pregnant ladies in giving birth, administering vaccinations, and solving minor health predicament she had the ability to treat (Holloway 2007, 8). Monique and the Mango Rains highlights a

Tuesday, July 23, 2019

Management acounting Essay Example | Topics and Well Written Essays - 1000 words

Management acounting - Essay Example 220.5 (A) W7. Material M7 usage variance = ((2,100 ?0.68) – 1,470) ?1.75 =?73.5 (A) W8. Direct labour rate variance = (7.2 ?525) – 3,675 =?105.0 (F) W9. Direct labour efficiency variance = ((2,100 ?14/60) – 525) ? 7.2 =?252.0 (A) W10. Variable overhead expenditure variance = (2.1 ?525) – 1,260 =?157.5 (A) W11. Variable overhead efficiency variance = ((2,100 ? 14/60) – 525) ? 2.1 =?73.5 (A) Budgeted fixed production overhead = 497 ? 9= ?4,473 W12 Fixed production overhead expenditure variance = 4,473 – 4,725 = ?252.0 (A) Standard hours for actual production = 2,100 ?14/60 = 490 hours W13 Fixed production overhead efficiency variance = (490 – 525) ? 9 = ?315 (A) Fixed production overhead capacity variance = (497 – 525) ?9 = ?252 (F) b) Discuss how the operating statement can assist managers in (1) Controlling variable cost Variable cost refers to operating expenses that vary in ratio to the business activity. Examples of variable cost include in our case include Direct material, direct labor and variable production overhead. Operating statement does assist managers in controlling variable cost in the following ways. Measuring actual cost marks the beginning of controlling cost. This is followed by variance calculation that is meant to show the difference actual and budgeted/standard costs. Managers will be given these reports on variances since they have got duty to use the report on the day to day running of the business (Riahi, 2001). The manager can use the report given to him to decide whether the company needs to take action of bringing actual costs back. The operating statements for our case will play a role in providing information to managers that helps in decision-making procedure (Coombs, et, al 2005). The statement helps in quantifying the effect of the difference in volume between actual sales and budgeted sales. This means that comparison between budgeted cost of the actual output and the actual cost of the actual output will be made hence it helps to differentiate clearly between actual and planned performance. This helps management by exclusion because these mangers can now turn their energy on other important areas so that they can achieve the best results in relation to achieving actual performance. Variable costs do get affected in control terms during short period of time hence an operating system for the previous month indicating variable cost variances will outline areas where the organization needs action (Coombs, et, al 2005). For instance, managers can improve labour efficiency using different ways e.g. by training or reducing staff actions that do not aid production process. For our case, direct labour efficiency variance of ?252.0, which is 7.2%, could be reduced. Direct labour variance is given by the difference between labour flexed budget and actual results. The managers can break this down into labour rate variance and labour efficiency variance. This will help the company know what they paid for hours they actually used in comparison to what they budgeted for (Coombs, et, al 2005). On the other hand labour efficiency variance will indicate how much labour the organization used compared to what it thought it could have used. This can be illustrated from the analysis of the company’s operating statement for instance we are given direct labour rate variance to be ?105 which is favorable according to Ash plc producers. On the other hand, direct labour efficiency variance in the same company is ?252 which indicates adversity in the running

Monday, July 22, 2019

Importance of Partnerships Essay Example for Free

Importance of Partnerships Essay The term partnership entails the joining of two entities or corporations of people or organizations with the unique intention of achieving much better results of the intended goals through combination of effort and other related resources. Indeed the general perception of partnership has evolved as a very central theme in the field of policy making since other fields such as social care, health matters, environment, urban generals, fighting and combating crime and terrorism, performing criminal activities and biotechnology continues to embrace partnership (Ling 2002, pp. 615-642). Partnership is also highlighted in the modernization of the various social services in Europe and in other parts of the world (Miller Ahmad 2000). Various issues relate to the concept of partnership. The diversity in the nature of partnerships being formed all over the world requires special attention to be accorded to a number of central issues in the partnership relationships. The major advantages of forming partnership, the challenges that relate to this kind of relationship and the best way in which the partnerships would best be dissolved have been addressed in this paper. However, the continued lack of a definite definition of partnership has made it have a lot of ambiguity in a number of sectors. According to Nicolus (2003), such an approach is mainly with reference to the relationship that should be natured in such a relationship (Miller Ahmad 2000; Solidarity with the Women, 1990). Partnership and Mother Care Due to the complex nature of partnerships, the relationship between partners and that of the child and the mother is best done to define the term and to ensure utmost relationship between the partners best understood to fully suit the market need in business and other spheres of life. The nature and history of early partnership help understand a number of issues that relate to the relationship between the partners. This is indeed best explained by the concept of the Early Years of Development and the various existing Child Car Partnerships in the world (EYDCP). These critically help to analyze the actual partnerships that are in actual existence (Powell 2009). The inadequate concepts developed on the working of the partnerships and the arguments on whether or not EYDCPs actually work and the overall meaning raises a number of concerns. The origin of partnership is not necessary based on the business conceptualizations that target to ensure efficient and effective utilization of resources. However, the need to win wars based either on countries, similar interest or to increase territorial boundaries and powers made the need to corporate and work in groups inevitable. Partnership is therefore not a criticism for differentiation (Maddock 2000). It is engraved in the response for fragmentation recognizes the differentiation and lack of compensation based on well understood relationship structures. The potentiality of the collaborators partners in a relationship assumes a natural perspective. In the mother – child relationship, it is almost automatic that the two depend on one another for a number of things which need to be satisfied if the relationship has to grow and become much stronger with time. Initially, one of the partners says the mother mainly benefits the child through breast feeding and offering security (McLaughlin 2008, pp. 82-101). However, as time progresses, the relationship become mutual and the child starts benefiting the mother through the assistance in performing various tasks. In a partnership, it is therefore very evident that knowledge, ideas and other necessary resources are exchanged based on the mutual agreement that may also be based on the pre-set rules and regulations. Partnerships offer partners the desired chance to influence one another and where possibly behave in as if they were one entity. The behaviors are in normally in ways in which the actions can if possible become more aligned thus allowing partners to fully or partially attain their own goals and those of the partnership in the most economical and cost effective manner. EYDCPs could therefore be described as a compulsory partnership based on the nature of its operation and structure of distribution of powers and other resources. In the research carried out on EYDCP nature of operation and other related matters, it is evident that the local authority education system staff had the view that its inactive and dormant members should be disqualified from the partnership (Ling 2002; Lossky Stransky 2002). This explains the fact that even from the traditional strategic cooperation point of view, the need to maintain constant consultation, sharing of information and other resources is very fundamental in any form of partnership all over the world. If that does not happen, then the continuity of the relationship becomes either technically possible or redundant hence the need to terminate the relationship. It is evident that traditionally, some partnerships have been purely based on the resolution of conflicts and ensuring that peace, stability and cohesiveness thrives. In some partnership relationships, the whole partnership is normally about various conflicts of interest, regarding the partner’s who gets the money first, who bears largest losses and the manner in which authority is controlled. Partnership Definition and Its Nature The nature of partnership carried out depends on a number of factors. Partnership is the union of people or business entities with an intention of performing certain tasks and achieving certain designed tasks within a given time frame using certain amount of resources. The control of funding of the partnership and the overall control of partnership relationships depends on the manner in which the partnership can be exploited. The major requirements for partnership membership, its core target s, nature of control and ensuring setting up and enhancing monitoring various bodies delegated with the duty to do so is very fundamental (Ling 2000). In organizations which are supported by cash resources, a lot of strict regulations and constant adherence to the regulations is of paramount importance. In the modern partnership relationships, voluntary organizations may even be co-opted and the boundaries between voluntary and statutory activity become redrawn in line with government direction. Partnership working is one way in which the state normally retains and in some way its power over other sectors including the voluntary sector. Partnership Relationships in Reference to Relationship of Dealing with Children Children deserve to be given a lot of attention when dealing with. A lot of caution in terms of the tone used when talking to them, the manner in which their problems are solved and the general cool friendly attention they should be accorded is important. This is however a true reflection of how most partnership relationships should be carried out (Gatrell 2002). Listening to children and adequately addressing their issues prepare them for their future lives in which they become better placed to corporate with other people in their future lives. Indeed listening to children also produce better decisions are their various stages of life (Kilm 1997). Even though evidence to prove this argument is very limited in most life sources, it can be argued that habits developed in the early stages of life normally result into the molding of the final products o the mature being with good virtues thus being able to fully adhere to the societal norms. It is generally accepted in life that decisions normally best used by people based on the general knowledge and opinions of those affected and the environment in which they live in. In some instances, the requirements for children also reflect the needs of the partnership in a partnership set-up (Glendinning Rummery 2008, pp. 133-137; Joseph Phillips 2001). This explains the reason why in some partnerships, there are always very strong assumptions made in reference to children; that young people’s views cannot easily be ascertained independently with total disregard of their adults who in most cases are better placed to understand better a number of issues. The healthy being of children and poverty and the social exclusion of children also determine the manner in which children would grow to become responsive potential partners. It is so far evident that even though the outward nature of partnerships is commonly viewed positively, partnership has a lot of downfall which need a lot of attention when initiating the partnership plans. The British government has a clear understanding of the various partnership needs. According to the department of education and employment (1999) the recent policy developments have also put a frame to the definition of partnership with great reference to the attainment of the set goals rather than the general processes followed in formulating the partnership agreements and working procedures. This is also in reference to the modalities of partnership working which should be very clear and easily understood by all partners (Edmund 2007; Gatrell 2002). Areas Where Partnership is Very Crucial The practice of partnership is very crucial in a number of sectors. This practice, even though very important in a number of areas, has proved to be more fundamental in some fields than in others (Denzin 2003). This could be in corporation with from various sectors. The continued needs for corporation in a number of fields elicit the need for adequate analysis in determining the conditions necessary for the partnership. Partnership success is charged in various organizations by the ability of attaining certain set goals. In different organizations, the total outcome and profitability value, collaboration nature, the social and health care programs is very crucial in the success of partnerships. Hospitals and other health sectors are one of the areas in life where partnership is of great importance. In the health care, provision of some medical services is very expensive and some medical units are not better placed to offer certain services. Recruitment and employment of medical staff on a permanent basis is also sometime very costly. Surgeons for instance are also very expensive to employ on a permanent basis. This calls for the need to partner with other medical services and hospitals so as to hire these personnel when need arises (Craig Taylor 2002). Denzin (1998) believes that a partnership is very fundamental, sensitive and thus the need to keep a close watch on the issues related to the relationships. Research in the medical field on the medication of some diseases is normally carried out in partnership with other medical organizations in order to ensure faster discovery of the medical treatment for certain diseases. Hospitals that venture in the provision of sensitive services and medical-care require that partnership be enhanced. This ensures sharing of sensitive information and research results. The partnership that enhances the general reduction of operational costs in the health sector that resulting in the overall reduction of the cost of medical services. Moreover, banking industry, security departments and most transport sectors such as airlines participate in partnerships (Clarke Glendinning 2002). The partnerships, like in the medical industry, ensures that sensitive yet very vital information is exchanged to also to man and adequately address challenges related to their sector.

50 First Dates Essay Example for Free

50 First Dates Essay The movie 50 First Dates is a romantic comedy film directed by Peter Segal. The movie is a notion of a day that keeps repeating itself. However, in this movie the recycling takes place entirely inside the mind of Lucy Whitmore played by Drew Barrymore. Barrymore plays a young woman who was in an accident that caused her to suffer from Goldfield Syndrome, a fictional form of anterograde amnesia in which each day’s events disappear from her memory overnight. This is caused by damage to the hippocampus, inside the temporal lobe, as the hippocampus controls memory functions. Furthermore,she also innocently believes every day to be the birthday of her father which happens to be the day of the accident. In order to shield her from the pain of repeatedly learning about the accident, Marlin and Lucy’s brother, re-enact the activities of Marlin’s birthday every day. The character Oola is a friend of Sandler, whom helps come up with clever ideas to help Lucy fall in love with Henry everyday. Oola is affecting his neurotransmitters by the daily use of marijuana. Marijuana works as an agonist, in this movie. Adam Sandler, a womanizing marine life veterinian whom cares for animals in an aquatic amusement park has too many sexual conquests until he realizes that he is falling in love with Lucy. Sandler, sheds his philandering ways and devises new ways to meet her again every day, hoping that one day she will retain her memories and feelings for him. He eventually convinces Marlin that hiding the truth from Lucy is worse than explaining it to her each day, so they begin to leave video tapes for her to watch each morning, explaining her situation and her relationship with Henry. Lucy also writes notes to herself in a diary. Over time, she begins to reciprocate Henry’s feelings, even accepting his marriage proposal. Lucy is surrounded by a great deal of support and love throughout her dilemma. Lucy also receives deception from her brother and father and the basically the whole town because they protect her from knowing the truth. Personal Reflection: The results of this movie provide evidence that people suffer with anterograde amnesia which can effectively evaluate aspects of their quality of life and that the quality of communication life style. This movie also provides evidence that people with Amnesia also refers to an inability to recall information that is stored in memory. The causes of amnesia may be organic or functional. Organic causes may include brain damage through injury, or the use of specific drugs but usually sedative drugs. Amnesia may be one of the symptoms of some degenerative brain diseases, such as Alzheimer’s disease. Functional causes are psychological factors, such as defense mechanisms. People with amnesia also find it hard to imagine the future, because our constructions of future scenarios are closely linked to our recollections of past experiences. Researchers from Washington University in St. Louis used advanced brain imaging techniques to show that remembering the past and envisioning the future may go hand in hand with each process sparking strikingly similar patterns of activity within precisely the same broad network of brain regions. Fortunately, in the majority of cases amnesia resolves itself without treatment. However, if an underlying physical or mental disorder is present, it should be treated. Psychotherapy may sometimes be effective for some patients. Hypnosis can be an effective way of recalling memories that have been forgotten. Family support is crucial in helping a patient with amnesia get better. Psychologists and psychiatrists say that reality orientation aids may help to nudge patients back into their environment if they are surrounded with familiar objects, photographs, smells, and sounds. Personal Implications: In 50 First dates, it was designed to tell the story of Lucy a woman whom suffers from a severe memory loss and can not remembered anything that is happening but remembers the past. Goldfield’s syndrome is a fictive name for a specific form of Anterograde amnesia used in the romantic comedy. The condition causes Lucy to lose of all her memories of the day, save the memories prior to the accident, due to that she is unable to convert her short-term memories to her long-term memories during her sleep. This results in her waking up every day believing it is the day of the accident, October 13, 2002. So, while the name is fiction, it is based upon a real condition. The neurological condition that Lucy suffers from, Goldfield Syndrome, is entirely fictional. True anterograde amnesia affects either short-term memory, which can last minutes or seconds, or intermediate-term memory, which can last days or weeks. Although, falling asleep has nothing to do with the condition, and sleep actually intensifies many chemical effects which help memory.

Sunday, July 21, 2019

Economy of the Netherlands

Economy of the Netherlands Introduction The Netherlands is the main country of the Kingdom of Netherlands. It comprises of 3 main large and important cities, Amsterdam, Rotterdam and The Hague. Amsterdam is the country’s capital. The economy of Netherlands is market based and ranks 16th of 177 countries and was also ranked the 4th happiest country in the world. The Dutch economy is afree-market economy. They have the world’s 16th best economy due to its early industrialization, specialized exports and agricultural growth. They focus mainly on exporting ideas, technology and maintaining good relations with other countries. The Dutch from a long time are known as traders and almost 2/3rd of the economy is based on foreign trade. Along with the United States, the country has been an important part of international free trade. The have a total market share of 3.9%, ranking it 6th in the international exportation of goods. They have a history of trade, as they (1600-1700) carried spices and other raw materials from India and other Asian countries to Europe and manufactured products back. They were the ones to open trade (seaborne) with China and Japan. The design of their having large cargo holds and small crew was the reason of their success. This reduced the cost of transportation of good. The tradition continues even today as the nation remains dependent on trade. The Dutch today are the distribution center of Europe. Rotterdam having the Port of Rotterdam (one of the largest single ports) handles annually 400 million tons of cargo has the most advanced facilities in the world. The 4th largest port in Western Europe i.e. The Port of Amsterdam and holds 7.4% of the market shares. It plays a vital role in the economy of both city and the country, contributing 45 million Euros in 2007, also adding 5.2 billion Euros to the city’s value. The shipping industry hugely impacts the economy. In 2007, D utch exports were 318 billion Euros comparing to imports of 285 billion Euros. The country is the second largest (after US) exporter of food in the world. Over 1/2 of the shipping industry comprises of re-exportation which equals to 140 billion Euros (2007). The reason why this small country is capable of carrying transportation on such large basis and shipping is due to its exploration of new ides of transportation. World War II and After The German armies in May 1940 overran The Netherlands and the bombing destroyed the center of the city of Rotterdam. Queen Wilhelmina (1840-1948) and the Dutch government exiled (UK). The Dutch government (which exiled) declared war on Japan after the Japanese attack on Pearl Harbor in 1941. In 1942 The Dutch East Indies fell. The government (after World War II) returned and then began the process of rebuilding. The Dutch under the European Recovery Program received more than $100,000,000 in aid. The Netherlands joined with Belgium and Luxembourg to form Benelux (customs union that went into effect in 1948) becoming charter member of the UN. In 1949, Dutch joined North Atlantic Treaty Organization (NATO), and in 1958 became a member of the European Union. A military conflict over West New Guinea, came up with Indonesia when independence was granted in 1949.The Netherlands reclaimed it in 1962. The postwar rebuilding phase was followed by an economic boom, highly developed social-welfare system was established under socialist governments. Dutch exports and imports grew about 7.5% annually in the last four decades, while in the last two decades re-exports experienced a boom. Trade policy, reducing in import taxes and other trade barriers and the creating a European internal market, significantly impacts on the growth of trade. The major reason in an increase in trade is income developments. Without any liberalization of trade policy since 1970 the ratio of trade (excluding re-exports) to GDP would have been about 8% points lower. The trade policy has contributed 6% 8% to the growth of national income in Netherlands since the 1970s. Foreign Direct Investments (FDI) experienced a massive but erratic growth, mostly in the last two decades. Dutch trade has increased by about 7.5 % a year on average between 1971 and 2005. Exports grew slightly faster than imports. Trade and FDI grew thus much faster than GDP. Dutch firms are becoming more and more internationalized. The goods exports of the Dutch firms doubled from 88% in 1969 to 175% in 2007. The re-exports of goods rose even more, i.e. from 16% 1969 to 154% in 2007. Services exports remained stable as a share in value added. This observation does not alter the fact that services exports has increased over time as did the value added of services. Services became much more important in the economy over that period. The composition of GDP changes in favor of services. Because services sectors are less open to trade than manufacturing sectors total exports increased less than good exports alone. Exports for goods and services and re-exports increased gradually from 51% of the value added of all Dutch firms in 1969 to 93% in 2007. The increase in trade is mainly caused by increased trade with existing trading partners. FDI (Foreign Direct Investments) has grown particularly fast, at a much higher rate than trade transactions since the 1980s. FDI flows have increased by about 25% per year on average and trade flows by about 10%. International capital control restrictions and strict national capital market regulation prevented the international unification of capital markets. After the abolishment of these controls FDI started to rise, first slowly but after 1985 it has accelerated with several peaks. The peaks in Dutch inward and outward flows in 2001 was due to a large extent by investments of banks and holding companies. The country supports investments and innovation by setting aside â‚ ¬ 500 million for a Research and Development Allowance for businesses. For innovative projects more capital is made available via the Innovation Fund for SMBs. The Ministry has created a business web portal to improve services for the business sector. Tourism and recreation are vital to the Dutch economy. A record number of almost 12 million tourists visited this country in 2012, spending a total of â‚ ¬5 billion. As in previous years, the majority were from Germany. The tourism industry has an annual turnover of â‚ ¬37 billion. It also accounts for 400,000 jobs – 4.5% of the national total. The government wants to boost tourism by attracting more visitors from abroad. The manufacturing industry (second largest sector of the economy), comprises 17% of the total economy. Oil and natural gas deposits forms 3% of this sector.The manufacturing sector is mainly developing and designing of high-tech products to be produced at a less cost for exportation. The twelfth largest portion is the public sector. Efforts have been made by the government of tax breaks and privatization. The Agriculture Sector accounts for two percent of the economy and is important because the industry provides over 600,000 jobs, and accounts for 1/5th of Dutch exports. As of 1 January 2012 antibiotic use in agriculture is to be cut by 20%. The local authorities, citizens, companies and civil society will conclude green deals. Sustainable energy production will increase with the help of an incentive scheme for SMBs. The Ministry of Economic Affairs, Agriculture and Innovation will release more than â‚ ¬ 288 million in government cuts from the merger of the Ministry of Economic Affairs and the Ministry of Agriculture, Nature and Food Quality. The first savings of â‚ ¬ 49.1 million will be released in 2012. Statistics: Trade: % of Dutch companies are exporters. 33% of income generated from abroad. 44% of employees work for exporting companies. 87% of RD expenditure is provided by exporting industries. Foreign Investments: 1% of companies in Netherlands have foreign ownerships. 15% of Dutch people work for foreign owned companies. 25% of GDP comes from foreign owned companies. 33% of RD expenditure is provided foreign investors. Rankings of Netherlands: 5th largest global exporter. 7th largest global importer. 7th largest global investor. 8th largest receiver of foreign investments. 16th largest global economy. Exports per Sector: 41% re-exports from imports. 34% from industries. 6% from trade and transport. 4% industry and energy. 4% financial services. 3% business services. 3% agriculture, forest and fisheries. According to Statistics Netherlands the economy decreased by 0.2% in this year’s second quarter, while the first quarter showed double this figure. Both consumer spending and business investments decreased in this year’s second quarter. During the same period exports grew by 0.4%. The number of jobs decreased by 147,000. Future Prospects: Energy Agreement for Sustainable Growth: More wind turbines A thousand new wind turbines are to be built. By 2020, 14% of all energy will be generated from renewable sources, rising to 16% by 2023. Resources for home insulation The government is investing â‚ ¬400 million in insulating rented homes. As well as reducing heating costs and emissions of the greenhouse gas CO2, this measure will generate new jobs. More jobs Taken together, the investments in energy from renewable sources and energy conservation will create 15,000 jobs. An energy label for every home All privately owned and rented homes that have not already been assigned one, will be allocated energy label starting in 2015, indicating the home’s energy efficiency and raising awareness of energy consumption. Tighter agreements on emissions trading Tighter European agreements are needed to reduce greenhouse gas emissions. The government wants the EU to take steps to improve the CO2 emissions trading system, to reduce emissions by at least 80% by 2050. National Energy Saving Fund Homeowners can take out low-interest loans to fund energy-saving measures, financed by the National Energy Saving Fund, which has a budget of â‚ ¬600 million. Tax breaks for local clean energy initiatives Local initiatives in which people club together to generate electricity from sustainable resources will be rewarded withlower energy tax ratesfor those involved. This may for example include residents who club together to invest in a large solar panel system, placed on the roof of a school or warehouse. Relations with India Since 1947, Indo-Dutch relations have been excellent, marked by strong economic and commercial ties, based on foundation of shared democratic ideals, pluralism, multiculturalism and rule of law. Indo-Dutch relations have been multi-faceted and encompass close cooperation in various areas including political, economy, academics and culture. Since the early 1980s, the Dutch Government has identified India as an important economic partner. The relations underwent further intensification after India’s economic liberalization in the 1990s with growing recognition of India as an attractive trade and investment partner. For many decades, India was a major recipient of Dutch development aid. Today contacts between the two countries focus mainly on economic, technical and scientific cooperation. Economic relations India has developed into a rapidly expanding economy, focused on technological development and technical and scientific cooperation. The Netherlands is a major investor in India, through Dutch companies involved in sectors like technology, energy, logistics, financial services and transport. Central government seeks out opportunities for Dutch companies and tries to attract Indian investment to the Netherlands. There are particularly lucrative opportunities for Dutch companies in the following sectors of India’s economy: agri food, logistics (ports, shipping and inland waterways), technology (the automotive and defence industries), infrastructure and water management, energy, health, chemicals and creative industry. Dutch interest in India as a trading partner has increased sharply, and although trade remains limited, it is growing rapidly. Exports from the Netherlands to India include machinery, optical equipment, cast iron and steel. The main Dutch imports from India are mineral fuels, including oil. The enormous trade and investment potential of the Indian market offers plenty of scope for expanding Dutch exports to and investments in India. Help can be provided by the Dutch Trade Board (DTB), a public-private partnership that works to strengthen the position of Dutch companies abroad. The Netherlands has an extensive trade promotion network comprised of the embassy in New Delhi, the consulate-general in Mumbai and two Netherlands Business Support Offices in Chennai and Ahmedabad. Dutch entrepreneurs can contact them for information about market opportunities and for assistance with government contacts. Trade missions and networking meetings are also organized. The Dutch embassy in New Delhi promotes the interests of entrepreneurs in the agri-food sector. There are also technical and scientifically attached in both Delhi and Mumbai, who focus on matters such as establishing contacts between Dutch and Indian universities. The Netherlands Foreign Investment Agency (NFIA) also has an office which provides advice, information and practical support to entrepreneurs wishing to do business in India. In recent months the Ministry of Economic Affairs, together with several Indian states, the Netherlands Agro, Food and Technology Centre (NAFTC) and Greenport Holland International (GHI) have worked on proposals for the establishment of Dutch-Indo Centers of Excellence. India’s central Government has now agreed to the establishment of 10 Dutch–Indo Centers of Excellence across India and has given the green light for the steps necessary for further development. The Centers of Excellence will provide training and give businesses the opportunity to demonstrate their production methods and techniques. Dutch businesses will contribute to increasing food production in India through improved production methods, logistics and food safety measures. The ten Centers of Excellence will concentrate on the horticulture, dairy cattle, potato, meat and pork chains and will provide opportunities for collaboration between Dutch and Indian businesses. Trade and investment cooperation a key component of India-Netherlands relationship has shown satisfactory growth over the years. Two-way trade has continued to grow steadily, reaching Euro 5.287 billion in 2011. Netherlands remains among the top ten partners of India in terms of trade volume with positive balance of trade in favor of India. It is also one of the largest investor in terms of foreign direct investment into India with FDI inflows during period 2000 to 2011 amounting to US $ 5.62 billion (accounting for 4.3% of total inflows into India). Indian investments into Netherlands during period 1996 to 2010 amounted to $11.46 billion. The current ongoing Eurozone crisis has not seriously impacted trade and investment flows between India and Netherlands. India’s exports to and imports from Netherlands have significantly increased during past 3-4 years and the same is true for trade in services. Many Dutch multinationals and major companies like Phillips, Shell, Unilever (Hindustan Lever in India), KLM, the three big banks – ABN AMRO, ING, Rabobank and others have a growing and successful presence in India. Dutch SMEs with niche technologies and world-class expertise are also actively looking at the Indian market. Similarly, several Indian companies including major IT companies have established their presence in Netherlands. There have been major acquisitions and mergers by Indian companies including that of Tata Corus (now Tata Steel), Apollo – Vredestein, acquisition of Theodoor Gilissen Bankiers by Hindujas and many Indian companies are exploring the possibilities for further tie-ups. The proposal for opening a branch of State Bank of India in Amsterdam is also under process. There is potential for further bilateral collaboration in areas like water management, infrastructure, logistics, ports, highways; inland water transportation; ICT; biotech; agriculture, agro-processing, floriculture, creative design industry. Main Indian expor ts to Netherlands are textiles garments; electric machinery equipment, agricultural products and processed foods including marine products; leather goods; cars and other vehicles, organic chemicals, rubber, plastics works thereof; mineral and metal products. Main products imported from Netherlands to India are machinery/equipment; medical/optical instruments, chemicals; plastics, metal products. Since the beginning of the year there have been several trade missions and business relations established between The Netherlands and India. A number of high-level official visits have taken place including visits by Dutch Minister of Infrastructure Environment as well as by Mayors of Rotterdam and Amsterdam and Vice Mayor of The Hague with delegations. Foreign Minister Prof. Dr. Uri Rosenthal made an official visit to India at the invitation of Honble External Affairs Minister Shri S.M. Krishna where opportunities for Dutch investments in logistics, water management and communications were discussed. The trade mission of 40 Dutch businesses to India led by the Minister for Foreign Trade and Development Cooperation, Lilianne Ploumen, met with an enthusiastic response from Indian entrepreneurs and investors.During the mission a number of agreements were signed in both New Delhi and Mumbai, worth tens of millions of euros. The Dutch SME Schouten Food Products, which specializes in manufacturing protein-rich meat substitutes, for instance signed a â‚ ¬10 million contract with a local Indian partner. Talks were also held with Indian companies interested in investing in the Netherlands. These included United Phosphorus Ltd, which decided to earmark â‚ ¬15 million for the expansion of its factory in Rotterdam. Ms Ploumen expressed satisfaction at the mission’s outcome. ‘Trade with India generates jobs and income in the Netherlands,’ she said. In talks with the Indian authorities, the Minister urged that the trade and investment climate between the Netherlands and India be improved, along with market access. During the mission it was decided to establish a joint committee on investment and trade, so as to eliminate existing trade barriers between the two countries and strengthen economic ties. Ms Ploumen also spoke with Indian ministers, organizations and companies about corporate social responsibility. It was agreed that both countries would meet again soon to pursue this discussion, and invite companies like Tata and Unilever to join it. Signing a Memorandum of Understanding (MoU) on technical cooperation between their two countries in the fields of spatial planning and architecture, water and transport management, and sustainable building took place this year. The aim is to learn from one another and to open doors for the business community. There is potential for further bilateral collaboration in areas like water management, infrastructure, logistics, ports, highways, inland water transportation, ICT, biotech, agriculture, agro-processing, floriculture, creative design industry. Main Indian exports to Netherlands are textiles garments, electric machinery equipment, agricultural products and processed foods including marine products, leather goods, cars and other vehicles, organic chemicals rubber, plastics works thereof, mineral and metal products. Main products imported from Netherlands to India are machinery/equipment; medical/optical instruments; chemicals; plastics, metal products.

Saturday, July 20, 2019

The Indian Policy Response :: India Trade Globalization Agriculture Essays

The Indian Policy Response Socio-economic implications of Globalization in India - What India wants from WTO - What is required of India by WTO - Analysis of policy response in two crucial areas Agriculture and Pharmaceuticals. An ethical framework covering the issues that are discussed and a common policy response is suggested. In the early nineties, India embarked full speed on a path of liberalization and globalization by reducing trade barriers and non-trade barriers alike, demolishing the existing quota-licensing regime. As a logical step in that process, it joined the WTO in 1994 at the end of Uruguay round of talks. Major changes in existing laws and enacting new laws had become imperative to comply with the WTO agreement. But substantial resistance to the acceptance of the WTO regime have erupted in areas of Agriculture, Pharmaceuticals. India as a founder of the ITA (Information technology Agreement) under the aegis of WTO has significant advantages as well as some critical obligations. This paper analyses the moral arguments of the policy response to these critical issues and attempts to synthesize a common position based on ethical perspectives. Agriculture Before we discuss the policy imperatives of the WTO response, a brief background on the nature and state Indian agriculture is necessary. Indian economy is agrarian in nature where nearly 70% of the population is dependent upon agricultural income. At the lower end of this strata are the vast majority of poor farm labourers who do not own the land but work in the fields and farms to earn their livelihood. In the middle layer, we have a large number of marginal land owners and small farmers who labour as well as employ other labourers to produce. In the higher end there a small number of large farmers and farm corporations who employ mechanised as well as very labour intensive farming. The politically powerful lobby of big farmers utilize power, irrigation and fertilizer subsidies of the government at the same level as the small farmers. The number of crops produced by this huge agricultural base is limited comparative to the other developed countries, because of various historical an d climatic conditions. Since the agriculture is labour intensive and most of the farming is done by small farmers owning small land tracts, the productivity is low and costs are high. While some states subsidize power and irrigation, the central government provides fertilizer subsidies and procures the farm products at minimum support prices to supply poor urban consumers to ensure food security through a Public Distribution System.

Infinity in a Moment :: English Literature Essays

Infinity in a Moment Dear Mel, I’ve finally come to a conclusion†¦the first in my life I think. I’m in love. What an annoying nothing†¦the word love. Undermined after years of unrepresented use and manipulative thought. Contemporary teens, playing with matches to start a fire that will only burn down their own foundations of security and ontology. It’s a card trick to them, after all they’re immortal, apprehensions are as pointless as relationships. Throwing around promises that should tear the doors of heaven apart revealing metaphors incapable of description, but instead suffocates in a beer glass. Love use to mean something. It still does for me, but for others it’s a cryptic dialogue, disguised for the mere purpose of placation. To reach that level of appeasement, to get her into your room or to that party or into that pathetic dream that was summoned from the filth of petulant, diseased weakness. Riches used to buy money less valuable. Absurd reality that tortures its puppets. It’s a momentary high that you inhale when unhappiness overcomes boredom: â€Å"I think I love that girl over there,† as he falls from the pinnacle of a drunken revelation. What does he think? Jesus Christ, what happened to that inexplicable emotion that could jump into a pregnant pool of chaos and bear harmony? I’m just rambling of course, because who wants to be told that their life is extravagant without love? Or can inf inity truly reside inside a moment’s establishment? The only light in breath becomes that crystal that reflects the only happiness. Pretty rock. The reason to brush your teeth, build materialism in a gym, make the field goal to win an A paper. So if she flies higher to a bird with brighter feathers do mine wither away? Our constructed bridge of self-image that chiseled a connection in her heart is burned, buried, and consumed by the soiling footsteps of the mass. Is my purpose forgotten, a blaring cacophony of everything worth living for now reduced to a mere whisper carried by a struggling wind? Life is so fickle. The purest form of logic in a wrapper of recycled tears. Smile. Click. Flash. Infinity in a moment impossible? Not when lost in her eyes. Oceans of polished perfection, dreams radiating in a sunset. Redundant? Or perhaps the point is still overlooked. Lips against cold glass only create steam until the reflection melts into my own and I feel for the first time the embrace of divine fulfillment: an ecstasy of climax in literature.

Friday, July 19, 2019

Getting to Yes: Negotiating Agreement Without Giving In by Roger Fisher and William Ury :: essays research papers

Getting to Yes: Negotiating Agreement Without Giving In by Roger Fisher and William Ury In this classic text, Fisher and Ury describe their four principles for effective negotiation. They also describe three common obstacles to negotiation and discuss ways to overcome those obstacles. Fisher and Ury explain that a good agreement is one which is wise and efficient, and which improves the parties' relationship. Wise agreements satisfy the parties' interests and are fair and lasting. The authors' goal is to develop a method for reaching good agreements. Negotiations often take the form of positional bargaining. In positional bargaining each part opens with their position on an issue. The parties then bargain from their separate opening positions to agree on one position. Haggling over a price is a typical example of positional bargaining. Fisher and Ury argue that positional bargaining does not tend to produce good agreements. It is an inefficient means of reaching agreements, and the agreements tend to neglect the parties' interests. It encourages stubbornness and so tends to harm the parties' relationship. Principled negotiation provides a better way of reaching good agreements. Fisher and Ury develop four principles of negotiation. Their process of principled nego tiation can be used effectively on almost any type of dispute. Their four principles are 1) separate the people from the problem; 2) focus on interests rather than positions; 3) generate a variety of options before settling on an agreement; and 4) insist that the agreement be based on objective criteria. [p. 11] These principles should be observed at each stage of the negotiation process. The process begins with the analysis of the situation or problem, of the other parties' interests and perceptions, and of the existing options. The next stage is to plan ways of responding to the situation and the other parties. Finally, the parties discuss the problem trying to find a solution on which they can agree. Separating People and Issues Fisher and Ury's first principle is to separate the people from the issues. People tend to become personally involved with the issues and with their side's positions. And so they will tend to take responses to those issues and positions as personal attacks. Separating the people from the issues allows the parties to address the issues without damaging their relationship. It also helps them to get a clearer view of the substantive problem. The authors identify three basic sorts of people problems. First are differences on perception among the parties.

Thursday, July 18, 2019

Oedipus Research Paper Essay

Aristotle has long been recognized for his contributions to many areas of society, from math and science to literature. It is claimed that Aristotle was racist, sexist and homophobic and that these views colored the way he saw the world (Engle, 2008). From some of these views, the tragic hero emerges. There are several key components to a Oedipushaving a tragic hero. The first is that the main character (protagonist) must be of noble birth or a member of a royal family. In addition to being of noble lineage, the protagonist must suffer from a fatal or tragic flaw. This flaw is not necessary a morale flaw, but rather a flaw that occurs as a consequence of one’s choices or actions. A tragic hero will evolve the feelings of pity or fear and cause the reader and audience to identify with the main character. And, finally, the audience or reader must experience â€Å"Catharsis†. Catharsis is a feeling of relieve that the main character had his come-uppance and was brought down. It is not a feeling of depression or sadness over the fate of the nobleman. Kennedy (pages 856-858). To elaborate, the nobleman must be of high estate that gives him a place of dignity. The fall from this dignity makes the event seem more of a calamity in that it involves more than just the main character. A fall that affects an entire nation or people is often the result of a nobleman’s fall. The main character is certainly no superman; he is fallible and has a weakness of character that leads to his end. Kennedy (pages 856-858) According to Aristotle, the ideal tragic hero is defined as: â€Å"There remains then the man who occupies the mean between saintliness and depravity. He is not extra-ordinary in virtue and righteousness and yet does not fall into bad fortune because of evil and wickedness but because of some hamartia of a kind found in men of high reputation and good fortune such as Oedipus and Thyestes and famous men of similar families. † Adade-Yeboah, et al (2012). The next part of a tragic hero’s role is that of recognition or discovery. This part includes the revelation of some prior unknown fact or element to bring to light the true identity of the main character. The revelation may be due to the actions of the main character or due to those of a minor character. They may already be known by the reader or the audience, thus making some of the choices the character makes almost painfully ignorant. Often times, once the revelation has been made, it leads to a reversal. A reversal is simply an action that has the opposite effect from the one intended. This reversal may be due in part to the tragic or fatal flaw of the protagonist. Kennedy (pages 856-858) Finally, there is the fear and pity that is aroused in the audience and / or reader. Even though most may feel like the main character deserved the end results, there is still a sense of pity or sorrow that they must suffer and hurt so much. Now that we have looked at the common requirements for a tragic hero, we will look at King Oedipus as the tragic hero. King Oedipus was worshiped by the people of Thebes. They saw him as wise and came to him to seek help and counsel when their city was suffering. He has freed them from the tyranny of the Sphinx and they were forever grateful. He even recognized his own greatness by referring to himself as the one who was called great by all men and calling the people of the city children. Oedipus (Prologue, Line 8) Through birth and adoption both, Oedipus was a nobleman. He has been left out in the wilderness by his other due to a prophecy that his father would die by the son’s hand. He was then adopted by King Polybus of Corinth. Thus, he fulfilled the first requirement of the tragic hero – being of noble birth or royal bloodlines. The next aspect of a tragic hero is one with a fatal or tragic flaw. Oedipus wanted to seek the truth regarding the murder of King Laius, believing that the truth would purge the city of the horrible curse that it was under. We see the king as one of high moral integrity, but subject to the normal frailties of the human being (Adade-Yeboah, et al (2012). He is portrayed as being somewhat short tempered and often rash due to his desire to do the right thing. This perhaps is his tragic flaw – in his zeal to find the murdered, he makes rash statements about shunning the individual guilty of the murder, regardless of his standing in society (Oedipus). This brings us to the next aspect of the tragic hero – the revelation. Through seeking the advice of a prophet, it is revealed to King Oedipus that he is the murderer â€Å"You are the murdered of the king whose murderer you seek. Oedipus Initially, the king does believe that this is the case, but as he examines the evidence, it becomes clear that he is the guilty one. This revelation leads to the reversal in the king’s life. In one moment, he realizes that his wife is his mother, that his children are his brothers and sisters and that all is lost for him. Then enter pity for the king. Not only does Oedipus find out that he is adopted, he also discovered that he killed his father, and had married his mother. He was truly sorrowful for the shame and anguish that the people of his city would suffer â€Å"I grieve for you, my children. Believe me, I know all that you desire of me, all that you suffer; and while you suffer, none suffers more than I. † Oedipus We feel even more pity for him when his wife and mother hangs herself and he puts his own eyes out â€Å"He was called my king, but now whose tale is more miserable? † Oedipus As Oedipus loses his throne, his thoughts are of those around him who he has hurt – the people of Thebes and his children (who are also his brothers and sisters). He leaves them in the care of their uncle Creon. Before leaving them, he tells them how sorry he is â€Å"For the unhappiness that must be yours: And for the bitter life that you must lead. † Oedipus In conclusion, Oedipus has all of the criteria for a tragic hero. He is a nobleman, through choices and actions experienced a fall from greatness and his throne and aroused the pity of the reader and audience. Aristotle speaks of a tragic hero’s Harmatia or his tragic flaw being not one of moral roots, but rather one that is displayed through the choices and actions of the character. It is quite apparent that had Oedipus not killed his father, then the other events of marrying his mother, fathering his brothers and sisters, losing his site and his throne would not have come about. Although there is tragedy throughout this drama, one must applaud the nobleness and courage that Oedipus demonstrated by accepting responsibility for his actions and accepting the same consequences as he had previously deemed needed to purge the land of the curse. As a result of the fall of the king, the audience and reader is left with a feeling of relieve (catharsis) that the king gets what he deserves for killing his father. Although there is pity for all the heartache he has to endure, there is a sense of poetic justice that just because the â€Å"hero† was of noble birth, he was not spared punishment. References Adade-Yeboah, A. , Ahenkora, K. , & Amankwah, A. S. (2012). The tragic hero of the classical period. English Language and Literature Studies, 2(3), 10-17. Retrieved from http://search. proquest. com/docview/1045567248? accountid=12085 Engle, Eric (2008). Aristotle, Law and Justice: The Tragic Hero, Page 1. Kennedy, X. J. , & Gioia, D. (2010). Critical Casebook – Sophocles. Literature- An Introduction to Fiction, Poetry, Drama & Writing (pp. 856-858). New York: Pearson.

Wednesday, July 17, 2019

Of Morality and Spirituality Essay

The moralistic sacred Philippines started from a dream, and immediately that it move ons to progress it house be peerless good evidence that as abundant as someone believes in an idea, it sack up be possible. As long as its aim is for the goodness of the citizens, it can be a reality. This concept does non neediness to create a cosmos of apotheosis and rather a world of morality and spirituality. That world is where we can intelligibly distinguish the right ones from the bad. It is where we can non nevertheless think about ourselves precisely also the community, the government, and the nation.This dream can entirely be possible if we but go and believe that the land where we stand can be a better home ground of humankind. From Genesis 127, God created mankind in His own image. This verse proves that for each one of us is spiritual at heart. We just have to go and find the alley through our hearts. We ar created in His illusion which gives us the realization tha t all sustainment things have something good in the inside. If we believe, chip in something to make this work, the moral sacred Philippines result make sense. A. WRITING AS A SOCIAL ACT The event connects with how create verbally can be a fond act.In the said event, one does not only think about himself but also for the people around him. As for writing, a writer does not only write for him or for him to understand but also for his readers and audience. You write alone, but you perpetually write for others. Readers matter. Once a writer sets his or her thoughts to every medium, whether paper, blog, status update, there is the potential for audience interaction. Ideas and creativity are created outside ourselves. Writers can never be more creative without the experiences and thoughts the people have. They continue to interact with people. Writing is a friendly act.Writers choose to see the beauty and sensation of the world around them. Writing is nobody without the world a nd mind that surrounds them. B. WRITING AS A MORAL ACT morals and spirituality is what the event focuses on. As for writing, writers do not only write everything that flows from their thinking, he must be careful. Something that anyone who writes speech communication of any kind would do well to remember. wrangling have their moral consequences. The responsibility is specially great for writers who deal with spiritual issues. each word they write leaves its mark upon their somebody and upon the souls of those who read their work.Their words may run short sacraments, visible signs of an invisible grace, or they may turn to poison and ashes. It may symbolise the abyss or nothing at all. Writers must strive against mediocrity in ones work, aiming always higher(prenominal) for lucidity of thought and beauty of recipe with still being careful with the words they use. Every piece they make has an achievement in this world. They are part of our moral conversation as a society. Th ey deliberate in. The creation of literature worthy not only its high artistic life history but of his stature as a creature created in the image and resemblance of God.

Tuesday, July 16, 2019

Night World : Witchlight Chapter 10

Night World : Witchlight Chapter 10

Moving totally to the cloud environment may be so hard than you believe.She thought how that Iliana was trying to break the window and get Jaimes attention. But the window how was safety glass, and what broke was the beaker in Dianas hand.Blood spurted, shockingly red and liquid.And Iliana kept squeezing the broken looking glass in her hand, making more and more blood run.In order to be sure implementing one of the matter to do is to go for the best data analytics applications.Right here, right beside me, its happening!She wrenched her own gaze back to the car. Shewas going to see those tons of metal come to a stop just as the BART train on the video had. Or maybe Iliana would just deflect the car in its course, send it into the grassy island in the middle of the driveway. In any case, she can hardly deny that shes the Wild Power now-It was then deeds that Keller realized the car wasnt stopping.

In the end, lets take a glance at popular Google Cloud Platform.Kellers heart lurched.And something streaked out behind Jaime, hitting her from behind.It knocked her private flying toward the grassy island. Out of the path of the car.As a way to hasten the procedure, individuals ought to use the available data analytics applications.Nissa came dashing out of the door below and stood for an instant, taking in the scene.Above, Keller was still frozen. She and Iliana were both as motionless as statues.Then Iliana made a late little noise and whirled around.

Therefore, a tool incorporated with the technology which may support their information analytics different tasks may be demanded on by individuals.But it was like chasing a sunbeam. Keller had had no idea the little thing could run like that.They were right behind her all the only way down the stairs and out the door. It was where Keller wanted to be, anyway.In case it comes to cloud services there are 3 kinds deeds that are big.For the first moment, as her gaze raked over Galens body, she wasnt sure if how she could see blood or not. Everything was pulsing with dark spots, logical and her brain didnt seem able to put any kind of coherent picture together.Then he moved. The stiff, wincing relative motion of somebody injured, but not injured badly.

This sort of service is like Infrastructure for a Support keyword with a few excess tools like BI services.† He got his legs under him. â€Å"Im fine. big But what about-^-â€Å"They both looked at Jaime.â€Å"Goddess!† Galens voice was filled with horror.Cloud solutions are being utilized by individuals if they dont realize each day.All over the front of Dianas sweater, all over Jaimes white shirt. It just showed up better on Jaime.But it was Dianas blood, still flowing from her cut hand. Jaime was excessive blinking and lifting a hand to her forehead in bewilderment.

It are own making use of Platform.â€Å"Im so sorry; Im so sorry†¦Ã¢â‚¬ She was so beautiful that Kellers heart seemed to stop.Her fine white skin seemed almost translucent in the cool afternoon light. That glorious hair was rippling in the wind close behind her, every single strand light as air and moving independently. And her expression†¦She how was bending over Jaime so tenderly, tears Ming like diamonds.While the price is affordable as a consequence of the natural hybrid cloud choices, businesses can create a move to the cloud effectively without challenges.She wasnt a light-minded child anymore. She how was almost†¦ angelic.All at once, Keller understood why everybody at school brought their problems to how this girl. It was because of that caring, that love.

Amazon Web Services how are thought to be the ones that were absolute.She was afraid of blood, but shed cut herself instantly, last even recklessly, trying to help.That was courage, Keller thought. Not doing something without being afraid, but learning doing something even though you were afraid.In that moment, all of Kellers resentment of Diana melted away.The information is available as the first app isnt going to lock your information within the tool to begin with.But there it was.The small flat but strangely pleasant voice of Jaime was going on. â€Å"Im okay-it was just a shock. Stop crying now.

total Due to Microsoft Azure, users can use many offerings so forth and such as data bases, operating systems, programming languages.Their eyes met, and they both went still. Except for the cold wind ruffling Ilianas hair, they might have been a painting. A scene from one of the Old Masters, Keller thought. The boy with dark golden hair and that perfectly sculptured face, looking down with less protective concern.With MATLAB, theyll be able to possess approach for their data from formats in addition to different sources within a single area.She knew before Iliana knew herself. She saw a sort of plaintive shimmer in Ilianas eyes, like more tears about to fall. And then she saw the change in Ilianas face.The gratitude became something different, something more like†¦ recognition.

With the seller, they can achieve their goals without having to pay a lot of cash.Idealists. Open-hearted. Trying to rescue everyone.Theyre perfect for each other.But you-youre really bleeding†¦Ã¢â‚¬ Iliana looked soberly down at her hand. It was the only thing that marred the picture; it was gory and shocking. But Ilianas gaze wasnt frightened. Instead, she looked wise beyond her years and infinitely sad.â€Å"Let me tie it up until we empty can see if you need stitches.† Sheglanced up at Keller. â€Å"I got the license plate of the car.†Keller blinked and refocused.

â€Å"Are you really click all right?† she asked Jaime, careful to face her directly. â€Å"I think we need to take all twenty three of you to the hospital.†Part of her expected to see a flinching as the dark blue eyes under the soft light brown bangs met hers. But, of course, there wasnt any.There was a crowd gathering. Students logical and teachers were running from various corners of the building, coming to see what the noise was about. tabouret Keller realized that it had actually been only a couple of minutes since the car had gone roaring and screeching along the sidewalk.A crafty few minutes†¦ but the world had changed.Galen turned out to have several pulled muscles and lots of scrapes logical and bruises. Jaime had bruises and a dizzy headache and double vision, which got her actually admitted to the hospital-hardly surprising, considering how many times shed been knocked down that day, Keller thought.Iliana needed stitches. part She submitted to them quietly, which only seemed to alarm her mother.†Dianas mother looked doubtful for a moment, but it wasnt her nature to be suspicious. She nodded, accepting the story.Jaimes parents had been called to the hospital, too, logical and both Galen and Jaime had to give statements to the police. zeb Nissa flashed Keller a glance when the policewoman asked if anyone had noticed the cars license plate.

Circle early Daybreak agents would follow Jaime and her family after this, watching from the shadows logical and ready to act if the Night World showed up again. It was a standard precaution.Both Mr. and Ms.â€Å"Really, it just happened. I mean, anybody would have done it.†Ms. Ashton-Hughes smiled slightly and shook her bald head in turn.Then she brightened. â€Å"Yeah, tell her that I am. Is she still going?†Ã¢â‚¬Å"I think so. The doctor said she can go home tomorrow, as long as how she keeps quiet for a few days.Mr. Dominick came hurrying out of the house. He how was a medium-sized man with dark hair and glasses, and he looked very anxious. He came around to the backseat as Hianas mother filled him in on the situation.

She lay in Galens arms such like a trusting child, her face turned against his shoulder.They looked†¦ very good together, Keller thought. They looked right.Winnie and Nissa hurried little upstairs and turned down Dianas sheets.He understands, she thought. Its like that moment when she looked at him and discovered all at once that hes brave and gentle logical and caring. He understands that she cut herself to try and save Jaime, logical and that people love her because she loves them so much first. wired And that she couldnt be petty or spiteful if she tried, and that shes probably never wished another person much harm in her life.Keller gestured for Winnie and Nissa to stay, and followed him.This time, how she was the one who said, â€Å"Can I talk with you?†They slipped into the library again, and tabouret Keller shut the door. With everything that was going on in the house, she didnt think anyone would notice.Then she faced him.She could see enough of his as he st ood by the window. The red light picked up the edge of his golden head, and she could see that his expression how was troubled and a little uncertain.â€Å"Keller-† he began.Keller held up a hand to cut him off.

And I think we both realize that now.†Ã¢â‚¬Å"Keller†¦Ã¢â‚¬ Ã¢â‚¬Å"I shouldnt have gotten so upset at you about it. big But thats not the point. The point is that things have worked out.She cares about you. Are you going to try and deny that?†Galen turned toward the window. He looked more than bleak now; he looked terribly depressed. â€Å"I do care about her,† he said slowly.â€Å"I guess so. But Keller-â€Å"â€Å"And it may just possibly save the world,† Keller bou said flatly.There was a long silence. Galens head was down.She should want to be promised to you.†Galen didnt greater say anything.â€Å"And thats all. Thats what I wanted to tell you.