The Hunters: Phantom Chapter 28

No one answered the door at the Smalwoods' house. The driveway was empty and the house looked deserted, the shades pul ed down. â€Å"Maybe Caleb's not here,† Matt said nervously. â€Å"Could he have gone somewhere else when he got out of the hospital?† â€Å"I can smell him. I can hear him breathing,† Stefan growled. â€Å"He's in there, al right. He's hiding out.† Matt had never seen Stefan look so angry. His usual y calm green eyes were bright with rage, and his fangs seemed to be involuntarily extended, little sharp points showing every time he opened his mouth. Stefan caught Matt looking at them and frowned, running his tongue selfconsciously across his canines. Matt glanced at Alaric, who he'd been thinking of as the only other normal person left in their group, but Alaric was watching Stefan with what was clearly fascination rather than alarm. Not entirely normal, then, either, Matt thought. â€Å"We can get in,† Meredith said calmly. She looked to Alaric. â€Å"Let me know if someone's coming.† He nodded and positioned himself to block the view of anyone walking past on the sidewalk. With cool efficiency, Meredith wedged one end of her fighting stave in the crack of the front door and started to pry it open. The door was made of heavy oak, and clearly had two locks and a chain engaged inside, and it withstood Meredith's leverage against it. Meredith swore, then muttered, â€Å"Come on, come on,† redoubling her efforts. The locks and chains gave suddenly against her strength, and the door flew open, banging into the wal behind it. â€Å"So much for a quiet entrance,† Stefan said. He shifted restlessly on the doorstep as they filed past him. â€Å"You're invited in,† Meredith said, but Stefan shook his head. â€Å"I can't,† he said. â€Å"It only works if you live here.† Meredith's lips tightened, and she turned and ran up the stairs. There was a brief shout of surprise and some muffled thumping. Alaric glanced at Matt nervously, and then up the stairs. â€Å"Should we help her?† he said. Before Matt could answer – and he was pretty sure Meredith wasn't the one who needed help – she returned, shoving Caleb down the stairs before her, twisting one of his arms tightly behind his back. â€Å"Invite him in,† she ordered as Caleb stumbled to the bottom of the stairs. Caleb shook his head, and she yanked his arm up higher so that he yelped in pain. â€Å"I won't,† he said stubbornly. â€Å"You can't come in.† Meredith pushed him toward Stefan, stopping him just at the threshold of the front door. â€Å"Look at me,† Stefan said softly, and Caleb's eyes flew to his. Stefan's pupils widened, swal owing his green irises in black, and Caleb shook his head frantical y, but seemed unable to break his gaze. â€Å"Let. Me. In,† Stefan ordered. â€Å"Come in, then,† said Caleb sul enly. Meredith released him and his eyes cleared. He turned and dashed up the stairs. Stefan burst through the door like he'd been shot through a gun and then stalked up the stairs. His smooth, stealthy movements reminded Matt of a predator's – of a lion or a shark. Matt shivered. Sometimes he forgot how truly dangerous Stefan was. â€Å"I'd better go with him,† Meredith said. â€Å"We don't want Stefan doing anything he'd regret.† She paused. â€Å"Not before we find out what we need to know, anyway. Alaric, you're the one who knows the most about magic, so you come with me. Matt, keep an eye out and warn us if the Smal woods pul into the drive.† She and Alaric fol owed Stefan up the stairs. Matt waited for the screaming to start, but it remained ominously quiet upstairs. Keeping one eye on the driveway through the front windows, Matt prowled through the living room. He and Tyler had been friends once upon a time, or at least had hung out, because they were both first-string on the footbal team. They'd known each other since middle school. Tyler drank too much, partied too hard, was gross and sexist toward girls, but there had been something about him that Matt had sometimes enjoyed. It was the way he'd thrown himself into things, whether it was the no-holdsbarred tackle of an opposing team's quarterback or throwing the absolutely craziest party anyone had ever seen. Or the time when they'd been in seventh grade and he'd gotten obsessed with winning at Street Fighter on PlayStation 2. Every day he'd had Matt and the rest of the guys over, al of them spending hours sitting on the floor of Tyler's bedroom, eating chips and talking trash and pounding the buttons of the control er until Tyler had figured out how to win every fight. Matt heaved a sigh and peered out the front window again. There was a brief muffled thump from upstairs, and Matt froze. Silence. As he turned back to pace across the living room again, Matt noticed a particular photo among the neat row of frames on top of the piano. He crossed over and picked it up. It must have been the footbal banquet, junior year. In the picture, Matt's arm was around Elena, who he'd been dating then, and she was smiling up at him. Next to them stood Tyler, hand in hand with a girl whose name Matt couldn't remember. Alison, maybe, or Alicia. She'd been older than them, a senior, and had graduated that year and left town. They were al dressed up, he and Tyler in jackets and ties, the girls in party dresses. Elena had worn a white, deceptively simple short dress, and looked so lovely that she'd taken Matt's breath away. Things had been so easy then. The quarterback and the prettiest girl in school. They'd been the perfect couple. Then Stefan came to town, a cold, mechanical voice whispered to him, and destroyed everything. Stefan, who had pretended to be Matt's friend. Stefan, who had pretended to be a human being. Stefan, who had pursued Matt's girlfriend, the only girl Matt had ever real y been in love with. Probably the only girl he would ever feel that way about. Sure, they'd broken up just before Elena met Stefan, but Matt might have gotten her back, if not for him. Matt's mouth twisted, and he threw the photo to the floor. The glass didn't break, and the photo just lay there, Matt and Elena and Tyler and the girl whose name he didn't remember smiling innocently up at the ceiling, unaware of what was heading toward them, of the chaos that would erupt less than a year later. Because of Stefan. Stefan. Matt's face was hot with anger. There was a buzzing in his head. Stefan the traitor. Stefan the monster. Stefan who had stolen Matt's girl. Matt stepped deliberately onto the picture and ground it beneath his heel. The wooden frame snapped. The feel of the glass shattering under his foot was oddly satisfying. Without looking back, Matt stomped across the living room toward the stairs. It was time for him to deal with the monster who had ruined his life. â€Å"Confess!† Stefan growled, doing his best to compel Caleb. But he was so weak and Caleb kept throwing up mental blocks. No doubt about it – this boy had access to Power. â€Å"I don't know what you're talking about,† Caleb said, pressing his back against the wal as if he could tunnel into it. His eyes flicked nervously from Stefan's angry face to Meredith, who was holding her staff balanced between her hands, ready to strike, and back to Stefan. â€Å"If you just leave me alone, I won't go to the police. I don't want any trouble.† Caleb looked pale and shorter than Stefan remembered. There were bruises on his face, and one of his arms was in a cast and supported by a sling. Despite everything, Stefan felt a twinge of guilt as he looked at him. He's not human, he reminded himself. Although†¦ Caleb didn't seem al that wolfish either, for a werewolf. Shouldn't there be a little more of the animal in him? Stefan hadn't known many werewolves, but Tyler had been al big white teeth and barely repressed aggression. Next to him, Alaric blinked at the injured boy. Cocking his head to one side and examining him, he echoed Stefan's thoughts, asking skeptical y, â€Å"Are you sure he's a werewolf?† â€Å"A werewolf?† said Caleb. â€Å"Are you al crazy?† But Stefan was watching Caleb careful y, and he saw a tiny flicker in Caleb's eyes. â€Å"You're lying,† Stefan said coldly, reaching out with his mind once more, final y finding a crack in Caleb's defenses. â€Å"You don't think we're crazy. You're just surprised that we know about you.† Caleb sighed. His face was stil white and strained, but a certain falseness went out of it as Stefan spoke. His shoulders slumped and he stepped away from the wal a little, head hanging wearily. Meredith tensed, ready to spring, as he moved forward. He stopped and held up his hands. â€Å"I'm not going to try anything. And I'm not a werewolf. But, yeah, I know Tyler is, and I'm guessing that you know that, too.† â€Å"You've got the werewolf gene,† Stefan told him. â€Å"You could easily be a werewolf, too.† Caleb shrugged and looked Stefan straight in the eye. â€Å"I guess. But it didn't happen to me; it happened to Tyler.† â€Å"Happened to?† Meredith asked, her voice rising with outrage. â€Å"Do you know what Tyler did to become a werewolf?† Caleb glanced at her warily. â€Å"What he did? Tyler didn't do anything. The family curse caught up with him, that's al .† His face was shadowed and anxious. Stefan found his tone gentling despite himself. â€Å"Caleb, you have to kil someone to become a werewolf, even if you carry the gene. Unless you're bitten by a werewolf yourself, there are certain rituals that have to be performed. Blood rituals. Tyler murdered an innocent girl.† Caleb's knees seemed to give out, and he slid to the floor with a muffled thump. He looked sick. â€Å"Tyler wouldn't do that,† he said, but his voice was unsteady. â€Å"Tyler was like a brother to me after my parents died. He wouldn't kil anyone. I don't believe you.† â€Å"He did,† Meredith confirmed. â€Å"Tyler murdered Sue Carson. We negotiated for her to come back to life, but it doesn't change the fact that he did kil her.† Her voice held the unmistakable ring of truth, and al the fight seemed to go out of Caleb. He sank lower and rested his forehead against his knees. â€Å"What do you want from me?† He looked so thin and rumpled that, despite the urgency of their mission, Stefan was distracted. â€Å"Weren't you tal er than this?† he asked. â€Å"Bigger? More†¦ put together? The last time I saw you, I mean.† Caleb mumbled something into his knees, too muffled and distorted for even a vampire to hear properly. â€Å"What?† Stefan asked. Caleb looked up, his face smudged with tears. â€Å"It was a glamour, okay?† he said bitterly. â€Å"I made myself look better because I wanted Elena to want me.† Stefan thought of Caleb's glowing, healthy face, his height, his crowning halo of golden curls. No wonder he had seemed suspicious; subconsciously Stefan must have known how unlikely it was that an ordinary human would look that much like an archangel. No wonder he felt so much lighter than I expected when I threw him across the graveyard, Stefan thought. â€Å"So you are a magic user, even if you aren't a werewolf,† Meredith said swiftly. Caleb shrugged. â€Å"You knew that already,† he said. â€Å"I saw what you did to my workroom in the shed. What more do you want from me?† Meredith stepped forward warningly, stave at the ready, her gaze clear and pitiless, and Caleb flinched away from her. â€Å"What we want,† she said, enunciating every word distinctly, â€Å"is for you to tel us how you summoned the phantom, and how we can get rid of it. We want our friends back.† Caleb stared at her. â€Å"I swear I don't know what you're talking about.† Stefan prowled toward Caleb on his other side, keeping him off balance so that the boy's eyes flicked nervously back and forth between Stefan and Meredith. Then Stefan stopped. He could see that Caleb looked genuinely confused. Was it possible that he was tel ing the truth? Stefan knelt so that he was at eye level with Caleb and tried a softer tone. â€Å"Caleb?† he asked, depleting his last remnants of Power to compel the boy to speak. â€Å"Can you tel us what kind of magic you did? Something with the roses, right? What was the spel supposed to do?† Caleb swal owed, his Adam's apple bobbing. â€Å"I had to find out what happened to Tyler,† he said. â€Å"So I came here for the summer. No one seemed worried, but I knew Tyler wouldn't just drop out of sight. Tyler had talked about you, al of you, and Elena Gilbert. Tyler hated you, Stefan, and at first he liked Elena, and then he real y hated her, too. When I came here, though, everyone knew Elena Gilbert was dead. Her family was stil mourning her. And you were gone, Stefan; you'd left town. I tried to put the pieces together about what had happened – there were some pretty strange stories – and then lots of other weird things happened in town. Violence, and girls going crazy, and children attacking their parents. And then, suddenly, it was over; it just stopped, and it was like I was the only one who remembered it happening. But I also remembered just a normal summer. Elena Gilbert had been here the whole time, and no one thought anything of it, because they didn't remember her dying. Only I seemed to have two sets of memories. People who I'd seen get hurt† – he shuddered at the memory – â€Å"or even kil ed were fine again. I felt like I was going crazy.† Caleb pushed his shaggy dark blond hair back out of his face, rubbed his nose, and took a breath. â€Å"Whatever was going on, I knew you and Elena were at the center of it. The differences between the memories told me that. And I figured that you must be connected to Tyler's disappearance, too. Either you'd done something to him, or you knew something about what had happened to him. I figured if I could pul you and your friends apart, something would come out. Once you were set against one another, I'd be able to work my way in and find out what was going on. Maybe I could get Elena to fal for me with a glamour, or one of the other girls. I just had to know.† He looked from one to another of them. â€Å"The rose spel was supposed to make you irrational, turn you against one another.† Alaric frowned. â€Å"You mean you didn't summon anything?† Caleb shook his head. â€Å"Look,† he said, pul ing a thick leather-bound volume from under his bed. â€Å"The spel I used is in here. That's al I did, honest.† Alaric took the book and flipped through the pages until he found the right spel . He studied it, his forehead crinkling, and said, â€Å"He's tel ing the truth. There isn't anything about summoning a phantom in this book. And the spel here fits what we saw in Caleb's workshop and what I've been reading in his notebooks. This rose spel is a fairly low-level discord spel ; it would make whatever negative emotions we were feeling – hate, anger, jealousy, fear, sorrow – just a little bit stronger, make us a little more likely to blame one another for anything that went wrong.† â€Å"But when combined with the powers of whatever phantom might be hanging around here, the spel would become a feedback loop, just as Mrs. Flowers said could happen, strengthening our emotions and making the phantom more powerful,† Stefan said slowly. â€Å"Jealousy,† said Meredith thoughtful y. â€Å"You know, I hate to admit it, but I was horribly jealous of Celia when she was here.† She glanced apologetical y at Alaric, who reached out and gently touched her hand. â€Å"She was jealous of you, too,† Stefan said matter-offactly. â€Å"I could sense it.† He sighed. â€Å"And I've been feeling jealous as wel .† â€Å"So perhaps a jealousy phantom?† Alaric said. â€Å"Good, that'l give us more of a basis for researching banishing spel s. Although I haven't been feeling jealous at al .† â€Å"Of course not,† Meredith said pointedly. â€Å"You're the one who's had two girls fighting over you.† Suddenly Stefan felt so exhausted that his legs shook. He needed to feed, immediately. He nodded awkwardly to Caleb. â€Å"I'm sorry†¦ for what happened.† Caleb looked up at him. â€Å"Please tel me what happened to Tyler,† he implored. â€Å"I have to know. I'l leave you alone if you just tel me the truth, I promise.† Meredith and Stefan glanced at each other, and Stefan raised his eyebrows slightly. â€Å"Tyler was alive when he left town this past winter,† Meredith said slowly. â€Å"That's al we know about him, I swear.† Caleb stared up at her for a long moment, then nodded. â€Å"Thank you,† he said simply. She nodded back at him crisply, like a general acknowledging the troops, and led the way out of his room. Just then a muffled, cutoff shout came from downstairs, fol owed by a thud. Stefan and Alaric raced after Meredith down the stairs, almost bumping into her as she pul ed to a sudden halt. â€Å"What is it?† Stefan asked. Meredith drew aside. Matt was lying facedown at the foot of the stairs, his arms flung out as though to catch himself. Meredith stepped quickly the rest of the way down the stairs to him and turned him over gently. His eyes were closed, his face pale. He was breathing, slowly but steadily. Meredith felt his pulse, then shook him gently by the shoulder. â€Å"Matt,† she cal ed. â€Å"Matt!† She looked up at Stefan and Alaric. â€Å"Just like the others,† she said grimly. â€Å"The phantom's got him.†

China’s Foreign Policy Towards International Actors Essay

EXECUTIVE SUMMARY China has one of the four oldest civilizations in the world and a written history of 4,000 years. China’s long history includes eras of primitive society, slave society, feudalism and semi feudalism, semi-colonialism and the present socialist society. The Chinese are very proud of their society. They value their own culture and religion but are open and pragmatic towards the religions and cultures of others. Chinese people in general are peaceful, hardworking and easily contented. They respect authority and elders and are patient with their fellows. They will, however, push and sacrifice for their children. The Chinese value modesty, reserved behavior and humility. They believe in harmony and tend to avoid confrontation. Chinese culture gives the Chinese people their basic identity. These core values are unique and consistent, shaped by a tradition of four thousand years of history and maintained by the same language. There is only one set of core values in the Chinese national culture, despite all the differences among these people and their societies. This cultural value system is uniquely Chinese that distinguish itself not only from Western cultures, but also from other Eastern cultures (for example, Japanese culture). China is now a global actor of significant and growing importance. It is involved in regions and on issues that were once only peripheral to its interests and it is effectively using tools previously unavailable. It is no longer necessary to emphasize integrating China into the existing constellation of norms, rules, and institutions of the international community; by and large, China is already there. It is influencing perceptions, relationships, and organizations all over the world. China’s international behavior is clearly altering the dynamics of the current international system, but it is not transforming its structure. China’s global activism is driven by an identifiable set of perceptions, objectives, and policies—some are long-standing and others are more current. Both China’s foreign policy objectives and its policies have evolved in the last decade but with more change in the latter than the former. In this sense, China has a distinct foreign policy strategy, to the extent that any nation has one. China’s strategy is best understood as comprising multiple layers, each adding to an understanding of the totality of it. This monograph analyzes these layers, assesses the challenges for China in implementing its strategy, and evaluates the implications for Bangladesh and other countries interests and policy. The monograph analyzes the content, character, and execution of China’s foreign policy towards International actors. It examines how China views its security environment, how it defines its foreign policy objectives, how it is pursuing the objectives and the consequences for other countries economic and security interests. The breadth and the rapidity of change in China’s international activities are daunting to analyze, let alone to understand.

Rmit Mba Timetable Sem 1

Graduate School of Business and Law MBA – MC088 Timetable Semester 1 2012 Version 2 20/02/2012 Semester Dates: 27 February 2012 – 8 June 2012 Study Break: 5 April – 11 April 2012 Swot Vac: 28 May – 1 June 2012 Exam Period: 4 June – 8 June 2012 Full time Timetable Subject Area Catalogue No. BUSM 4151 Course Title Introduction to Business Management Managerial Finance Business and Economic Analysis Business Operations (Strategy and Application) Managerial Psychology Accounting Class No. 417 1422 1423 1403 1404 1408 1409 1416 1418 1419 1378 1379 1380 4028 1381 3932 1425 1426 Day Start Time Friday 16 March 8:30 Saturday 17 March 8:30 Sunday 18 March 8:30 Monday 19 March 8:30 Tuesdays 9:00 Tuesdays 13:00 Tuesdays Tuesdays Tuesdays Wednesdays Wednesdays Wednesdays Wednesdays Thursdays Thursdays Thursdays Thursdays Wednesdays Mondays Thursdays Thursdays 9:00 13:00 13:00 13:00 17:30 9:00 13:00 9:00 13:00 9:00 9:00 17:30 9:00 9:00 13:00 End Time 20:30 20:30 20:30 20:30 12:00 16:00 12:00 16:00 16:00 16:00 20:30 12:00 16:00 12:00 16:00 12:00 12:00 20:30 12:00 12:00 16:00 Location 013. 3. 009 013. 03. 009 013. 03. 009 013. 03. 009 013. 03. 005 013. 03. 005 013. 03. 011 013. 03. 011 013. 03. 015 013. 03. 015 013. 03. 015 013. 03. 011 013. 03. 011 013. 03. 011 013. 03. 005 013. 03. 005 013. 03. 010 013. 03. 005 13. 03. 011 013. 01. 002 013. 01. 003 Lecturer Doug Thomson Mike Code Vineet Tawani Ashton De Silva/Jonathon Boymal Ashton De Silva/Jonathon Boymal Rod Legge Gail Thomson John Toohey Lincoln Holland Lincon Holland David Foster Paul Gibson Liz Corbett Susan Inglis David Foster Christine Murphy Arthur Shelley Arthur Shelley Intake Intake 12 BUSM 4160 Intake 11 BUSM 243 Intake 12 BUSM BUSM BUSM 3261 4113 4154 Intake 11 Intake 11 Intake 12 BUSM 1530 Leadership and Management Intake 12 BUSM 4163 Applied Industry Practice Intake 11 MBA MC088 Sem 1 2012 Timetable Print Date: 24/02/2012 Page 1 of 2 Graduate School of Business and Law MBA â⠂¬â€œ MC088 Timetable Semester 1 2012 Version 2 20/02/2012 Part time Timetable Subject Area Catalogue No. BUSM 4151 Course Title Introduction to Business Management Business and Economic Analysis Business Operations (Strategy and Application) Managerial Psychology People and Organisations Accounting Managerial Finance Class No. 417 1405 1406 1410 1416 1407 1420 1421 1424 Day Start Time Friday 16 March 8:30 Saturday 17 March 8:30 Sunday 18 March 8:30 Monday 19 March 8:30 17:30 Mondays 17:30 Tuesdays Tuesdays Wednesdays Wednesdays Wednesdays Thursdays Thursdays 17:30 17:30 17:30 17:30 17:30 17:30 End Time 20:30 20:30 20:30 20:30 20:30 20:30 20:30 20:30 20:30 20:30 20:30 20:30 Location Lecturer Intake 013. 03. 009 013. 03. 009 Doug Thomson Part Time 013. 03. 009 013. 03. 009 13. 03. 010 Ashton De Silva/Jonathon BoymalPart Time 13. 3. 012 Ashton De Silva/Jonathon Boymal art Time P 013. 03. 015 013. 03. 015 13. 03. 010 013. 03. 011 013. 03. 013 013. 03. 005 Doug Thomson John Toohey Berna dette Hosking John Walker John Walker Vineet Tawani Part Time Part Time Part Time Part Time Part Time Part Time BUSM BUSM BUSM BUSM BUSM BUSM 3243 3261 4113 3249 4154 4160 Notes: Courses will be run if minimum student enrolments are achieved. Timetables are subject to change. MBA MC088 Sem 1 2012 Timetable Print Date: 24/02/2012 Page 2 of 2

Practice week Assignment Example | Topics and Well Written Essays - 500 words

Practice week - Assignment Example The evaluation and designing of data gathering tools has resulted in the collection of the following data on the problem of physical inactivity among the youths. The United Kingdom department of Health and Human Services recommends that young people between the ages of 18-25 should participate in at least sixty minutes of physical activity. However, this is not usually the case because only 18% of young people within this age are those who are active physically. 29 % of young people of this age have a record of attending physical education only in institutions of learning while the rest do not attend any form of physical fitness exercise (Humphreys & Ruseski, 2007, p. 541). Lack of physical activity affects academic achievement of a person such as concentration and attentiveness in classroom. 34% of academic mischievous individuals results due to lack of physical activity. According to Humphreys and Ruseski (2007, p. 544), physical inactivity influences overweight and obesity and increases the risks of one getting diabetes, high cholesterol, asthma, high blood pressure, poor health status and arthritis. Over 60 % of deaths and diagnose cases of the above conditions among affected individual has its roots from lack of physical activity. Physical inactivity influences and raises the chances of a person dying prematurely, developing diabetes, dying of heart diseases and colon cancer (Humphreys & Ruseski, 2007, p. 545). 58 % of problems and general deaths in hospitals arising from the above conditions have their causes traced from physical inactivity. From the data gathering and information collection, 77% percent of individuals between ages 18 and 25 years reported not to have participated in a free-time physical activity during the previous fourteen days. Instead, only 15.1% have participated in not more than sixty minutes of any

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Diversity in the Workplace Research Paper Example | Topics and Well Written Essays - 1000 words

Diversity in the Workplace - Research Paper Example Therefore, when analyzing diversity, all these aspects have to be considered in order to understand how they affect performance at workplace, motivation, success and interactions with others. Diversity in the workplace improves morale, builds a greater teamwork, and promotes positive relations among individuals, enhances mutual understanding and respect among them. Furthermore, diversity is all about dignity and respect for all, learning from others and understanding each other well. This research paper provides a thoughtful discussion of diversity in the workplace, exploring its importance, challenges of managing a diverse workplace, and effective strategies to manage diverse workforce. Generally, diversity can be defined as â€Å"acknowledging, understanding, accepting and valuing differences among individuals based on ethnicity, culture, age among other aspects† (Green et al, 2013). Arguably, diversity is very essential especially in today’s global market place since organizations interact with diverse cultures and different clients, thus it should be managed effectively. Therefore, all factors that seem to interfere with the promotion of diversity at workplace should be examined and eliminated. At workplace, no employee should be discriminated when it comes to recruitment, promotion, merit increase, salary, and training among others, based on gender identity, nationality, religion, or race. In order to achieve effective diverse workforce, the organization should clearly define all its activities that it is interested in improving like expanding customer base (Finn, n.d). Diversity in the workplace is a very important issue that organizations should focus on since it yields greater productivity and competitive benefits to the organization (Green et al, 2013). Managing diversity is a reflection of effective management that helps to improve productivity of an organization as well as customer service. Due to globalization, there is increased inter action of individuals from diverse cultures, races, religions as opposed to ancient times. With this, people do not concentrate at one place working or interacting with those coming from their cultures, or race (Green et al, 2013). Today, individuals are being recruited in every place they wish worldwide because organizations are competing to promote and achieve diversity to have a multicultural organization where no one is discriminated. Mangers have to learn necessary skills to fit in multicultural work environment since managing diversity remains to be an organizational challenge and they have to be able to deal with multicultural differences so that everyone in the organization is treated with dignity. Organizational leaders should inculcate the culture of diversity by â€Å"ensuring that all managers have inclusive management style† (Pollitt, 2006, p.24). Mor-Barak proposes that diversity is the right thing to embrace with equal opportunities offered to all, irrespective of their background, beliefs, or gender. This implies that all employees are given equal access to job opportunities in the organization (Mor-Barak, 2011). Organizations and businesses should care about diversity in the workplace since it does not only affect them but also the suppliers and customers. Ensuring that there is diversity in the workplace yields many benefits to employees, customers, and the organization as a whole.

Dignity in Elderly care Essay Example | Topics and Well Written Essays - 20000 words

Dignity in Elderly care - Essay Example The notion of dignity was evaluated from the elders’ perspective and experiences, the latter was backed up by reviews of all current literature thus ensuring a comprehensive view. Moreover, exclusive sets of international code of standards safeguard human dignity within all societies. The basic notions of human dignity were initially conceived within the Universal Declaration of Human Rights in 1948.Furthur the promotion of dignity within healthcare conduces to a better quality of life. The notion of dignity was evaluated from the elders’ perspective and experiences, the latter was backed up by reviews of all current literature thus ensuring a comprehensive view. A global aging population entails specific requirements. Human rights have gained a strong focus on bioethics whilst it transpires that human dignity and rights are complimentary to each other. Various international conventions on human rights are inadequate in fulfilling elderly needs. Picker institute outlined dignity indicators that optimise care for elderly patients whilst giving them their basic human rights. Data collection included intervews, books, journals and websites, reflecting qualitative research methods. The perspectives of aging people concerning the quality of health services were investigated in the data interpretation. Within this setting, the elderly patients’ autonomy and dignity resulted to be moderated. Recommendations stressing provisions in the legal and health care systems target the reduction of practices that undermine dignity. Complimentary recommendations include holistic training and education to health care workers to avoid negative attitudes towards the elderly, supported by a Commissioner of old people. Finally, more effective resource logistics are imperative to arrest limitations in the health care system. Dedicated to my Husband and Children, Jeanette, Peter and Norma Table of Contents CHAPTER 1 17 Literature review 17 Health Ethics 20 Human dignity in philosophy and religion 20 Elderly People’s Rights 26 The Power/Vulnerability Paradox (Megret’s theory) 42 Indicators of dignity for the elderly 44 CHAPTER 2 53 Methodology 53 Introduction 53 Methods 58 Target population 59 Process 60 CHAPTER 3 67 Analysis and Discussion 67 CHAPTER 4 83 Conclusion 83 Appendix 1: 86 Transcripts of patients interviewed: 86 Appendix 2: 113 Interview with Ministry of Foreign Af fairs 113 Appendix 3: 115 Consent Form 120 Bibliography 129 UN programme on ageing, The Madrid International Plan of Action on Aging, 2002. 138 Report of the Second World Assembly on Ageing, Madrid, 8-12 April 2002, United 138 Nations,  New York, 2002. Retrieved from, 138 http://www.un.org/ageing/madrid_intlplanaction.html 138 I would like to express my deepest gratitude to my supervisor Rev.Professor George Grima B.A.,M.A.(Louv.),S.TH.D.(Louv) For, his excellent guidance, constant support and assistance throughout the opus of this thesis. I also wish to thank all those who made the completion of this course possible, especially my Family and Friends who have patiently supported me throughout my years of study. Introduction   Background study â€Å"No one can make you feel inferior without your permission† - Eleanor Roosevelt. The term ‘dignity’ derived from the Latin word dignitas or dignus that means worthy, can be defined as â€Å"quality of being worthy of honour† or â€Å"a sense of self-importance† (Collins Language. com, 2011). One can view dignity as an individual’s personal characteristic, recognised by self and others. From a broader perspective, dignity is â€Å"an umbrella concept...which makes it at once inclusive and comprehensive, and yet raises issues of scope and precision... [While creating an] awareness of the gulf separating humans from all other species can sensitize us to our potential for dignity†

Affordances of an Educational Technology Tool (Blogs) Essay

Affordances of an Educational Technology Tool (Blogs) - Essay Example As the paper stresses Bogging as an ICT tool in the math classroom and other academic contexts, for that matter, has benefits as â€Å"a method of public discourse of the information society†.The â€Å"blog† as a tool of information and communication technology exhibits strengths in â€Å"the innovative possibilities for interactive relationships between learner and the ICT system†¦the blog is a method of discourse and discussion which opens up new possibilities for illustrating instructional learning tasks and facilitating the understanding and comprehension of mathematical phenomena† . According to the report findings participating in ‘collaborative construction of knowledge’ is an effective strength of blogging. The instructional method of ‘co-operative learning’ is often effectively demonstrated in the ICT learning environment. Blogging offers the opportunities for dialogue and discussion that are both motivational and social in educational context, including the mathematics classroom. Developmental and cognitive elaborations (from teachers and students) provide the opportunities and affordances of learning resources and support, i.e. The ICT collaborative learning camps. 'Collaborative constructions of knowledge’ are the learning outcomes of deductive/inductive logic, blogging of math theories, blogging on cognitive perspectives. ICT, with use of blogging techniques, â€Å"focuses on collaboration through the computer or computer-supported collaborative learning (CSCL), assisted by different network-based collaborative tools, wi thin the math classrooms†.

Marketing Research Essay Example | Topics and Well Written Essays - 2000 words - 3

Marketing Research - Essay Example The data gathered and interpreted during marketing research significantly supports the organizations draw out future plans according to the changing trends and scenario of the market. It is considerably helpful in enhancing the organizations’ volume of production and sales. â€Å"Marketing research† Zaidi & Javed opine, â€Å"concentrates on data collection related to market product while interacting with the consumers, gathering information from them and interpreting results about various aspects of a market product.† (Zaidi and Javed, 2002:7). A marketing research is usually conducted either to prove the validity of the previous study, already conducted either by some other researcher or the same researcher in some other area or time period, or to gather latest information related to discover the various aspects of a market commodity. â€Å"All employees must practice the marketing concept in their everyday corporate behavior for a firm to be able to say that it is applying the marketing concept for consumer orientation, goal orientation, systems orientation and market exchange process.† (Dr. Langford, B. E.). The rapid transformations in business environment have made significant impacts on marketing research. Business environment is defined as the cultural and structural characteristics of an organization, an industry, a company or a market. In other words, the term refers to the managerial activities, departmental interactions, individual and group tasks, strategy formulation, implementation and analysis, and interaction between different branches and sections etc. The upper management and board of executives determine, review and regulate the cultural and strategic environment of an organization. The business culture is based on the management techniques devised for this purpose. â€Å"The business environment of an organization includes rituals and routines, control systems, organizational structure, power

The Cold War Essay Example for Free

The Cold War Essay It was in the latter part of the 1960s when America’s National Aeronautics and Space Administration succeeded in landing a manned mission on the moon. But this event is not enough to define the 60s; it was the Cold War between the USSR and the United States of America that can rightfully make this claim. A closer look into the motivations behind the space program will reveal that the driving force was President Kennedy’s desire to show the world that the American way of life is better than what communism has to offer. In 1960, Nikita Khrushchev, Soviet Russia’s commander-in-chief declared that America’s grandchildren would live under communism† (Shapiro, 2004). In 1963 America was in the brink of a nuclear war with the USSR. The Cuban Missile Crisis was averted only at the last minute. Both Russia and the United States were determined to show the whole world which ideology was the best (Westad, 2007). It is a good thing that both nations were evenly matched and so the world was spared another global war. But since Khrushchev made that UN speech, Americans could never rest easy. Although there were no Russian-made nuclear warheads that found its way into American soil, people still live in dread. According to Shapiro, â€Å"We constructed mock air raids in our schools; we engineered civil defense plans to expedite evacuations of metropolitan areas, we built up our military forces and armament† (2004). In short the Cold War consumed the whole of the United States and its impact will be felt three decades later.a

Case study of cyanotic congenital heart disease

Case study of cyanotic congenital heart disease Baby J, a 3-week-old infant, was admitted to Ward 5A since birth due to severe central cyanosis caused by several congenital heart problems. Soon after birth, he suffered from respiratory distress, where his initial SaO2 was only about 70%. He was resuscitated and given 5 nanograms/kg/min of Prostin (Prostaglandin E2). On appearance, he was dusky-looking and his peripheries were cold and cyanosed. He was started on biphasic continuous positive airway pressure (CPAP) via an apnoea mask and also given positive end-expiratory pressure (PEEP) as an adjunct. His CPAP was delivered using nasal cannula the following day after his SaO2 increased to 80% and he remained on CPAP for the first 5 days after birth, which subsequently was weaned off. Antenatal scans found pulmonary atresia, overriding aorta and ventricular septal defect (VSD). Postnatally, cardiac catheterisation confirmed the antenatal findings with extra major aortopulmonary collateral arteries (MAPCAs). He tolerated feeding via TPN and was given 6ml of EBM (expressed breast milk) at intervals of 2 hourly. Bottle feeding was attempted on 28/09/09 and he tolerated the feedings well. Recently, the feedings increased to 44ml 2 hourly. Baby J passed urine normally and his stools were of normal consistency. Past Medical and Surgical History Baby J underwent a cardiac surgery on 1/10/09 through a median sternotomy and a Melbourne shunt was inserted to create an aortopulmonary connection. He was also diagnosed with Alagilles syndrome (an autosomal dominant inherited disorder affecting the heart, liver, spine, kidney and central nervous system). Family History Baby Js father was diagnosed with Alagilles syndrome as a child. He has congenital spinal abnormalities, cardiac defects (atrial septal defect, ASD, pulmonary stenosis and right ventricular dysfunction). Baby Js mother suffered from depression for about 3 years now. She also has asthma and a high BMI of 40. During pregnancy, Baby Js mother was on anti-depressant (Fluoxetine 20 mg OD) and inhalers (Becctide and Ventolin). Drug History NKDA Medication Dosage Frequency Aspirin 15mg OD Frusemide 3mg BD Spironolactone 3mg BD Social History Baby J is the 3rd child in the family. He has one brother and 2 sisters. His brother was also diagnosed with Alagilles and suffers from cardiac anomaly. Baby Js mother is a non-smoker and she did not drink alcohol while conceiving him. Systemic Enquiry Neurological None to note. Cardiovascular See above. Respiratory Cyanotic. Gastrointestinal None to note. Opened bowel normally with normal stools. Genitourinary None to note. Passed urine normally. Haematological None to note. No fevers or rigors Musculoskeletal None to note. Endocrine None to note PHYSICAL EXAMINATION General Inspection Not distressed or in pain. Alert and non-lethargic. Apyrexial (Temperature 37.1 0C) Mild bluish discolouration of lips and tongue. SaO2 83% on room air. Heart rate: 156 bpm RR: 48/min Anterior fontanelle normal. Cardiovascular Examination Examination Findings BP Pulse rate 78/ 45 mmHg 156 bpm (regular, normal volume, character) No radial-radial delay or radio-femoral delay. Normal radial/ brachial/ femoral pulses. Normal carotid pulses. Inspection Hands and nails Face and tongue Precordium Ankle Non-cyanotic fingers. CRT No finger clubbing/ splinter haemorrhages. Non-pallor palmar creases. Deep-set eyes, prominent forehead (features of Alagilles syndrome) Non-pallor conjunctiva Mild central cyanosis (bluish tinge to tongue) Median stenotomy scar. No peripheral oedema (rarely seen in children) Palpation Central trachea. No thrills or left parasternal heave. Auscultation HS=I+Single II (muscular pulmonary atresia) + Ejection click (due to high flow across aortic valve) and continuous murmur. Respiratory Examination Examination Findings Inspection Hands Mouth Eyes Chest wall Not breathless or in distress. Breathing at ease. No peripheral cyanosis. No finger clubbing. Mild bluish tinge to tongue. No jaundice and non-pallor conjunctiva. Normal AP diameter. Symmetrical movement of chest wall with respiration No accessory muscles used in respiration. Trachea Central, no tracheal tug Percussion Generally, resonant to percussion. Auscultation Vesicular breath sounds. Normal air entry. No wheeze or added sounds. Summary of Problems Baby J suffered from severe cyanosis immediately post-delivery due to closure of ductus arteriosus. To maintain the patency of the duct, he was given prostaglandin E2. However, this was just a temporary measure to maintain a duct-dependent pulmonary circulation. A more definitive treatment for Baby J was to establish a direct connection between the aorta and the pulmonary artery by a shunt in order to promote growth of central pulmonary artery. Differential Diagnosis *Most likely differential for Baby J bolded. Differentials of cyanosis:- Primary pulmonary disease Cyanotic congenital heart disease Reduced or duct-dependent pulmonary circulation Tetralogy of Fallot Pulmonary atresia Tricuspid atresia Abnormal mixing Transposition of great arteries Total anomalous pulmonary venous drainage (all draining into right atrium) Single truncus arteriosus Persistent pulmonary hypertension due to persistent fetal circulation Anaemia Asphyxia Sepsis Metabolic disorder Methaemoglobinaemia due to haemolytic anaemia Management Plan Initial management:- Respiratory distress at birth Resuscitation, give CPAP and PEEP to maintain oxygenation to lungs, immediate Prostin (5ng/kg/min) Check breathing Maintain circulation IV fluids Routine bloods and ABG Continuous monitoring oxygen saturation and vitals Cardiology review- echo and CXR Echo findings consistent with Fallot tetralogy with MAPCAs CXR found cardiomegaly Feeding via TPN (6ml/kg/2 hourly) Further management:- Cardiac catherisation to assess for cardiac anomaly Cardiology experts advised surgery to establish connection between aorta and pulmonary artery to increase pulmonary blood flow. Melbourne shunt was inserted via median sternotomy on 1/10/09. Echo post-op showed good flow in small pulmonary arteries and patent central shunt. Continue monitoring oxygen saturation aim to keep above 75% Perform ECG Monitor temperature post-op If pyrexial, culture blood and give vancomycin and gentamicin. Start on aspirin, frusemide, spironolactone and paracetamol PRN. Increase feed to 150ml/kg/day via bottle Relevant Investigations and Results: Bloods results (2/10/09) after cardiac surgery FBC Hb Platelets WBC 15.2 230 10.5 UE Na+ K+ Cl Urea Creatinine 142 4.7 100 3.9 77 LFTs Alk P AST ALT Pro Alb 274 29 31 55 27 CRP 100 Echo Results on 18/09/09 Pulmonary atresia, MAPCAs, VSD, overriding aorta. Results on 2/10/09 Patent central shunt with good flow to small pulmonary arteries. MAPCAs flow demonstrated from joined aortopulmary branches. X-ray of whole spine Single AP view of thoracolumbar spine no abnormality found. Reflective Commentary: Tetralogy of Fallot Tetralogy of Fallot (TOF) is the commonest cause of cyanotic congenital heart disease. It has 4 cardinal anatomical anomalies:- [1] Large outlet VSD Overriding aorta with respect to ventricular septum Right ventricular outflow obstruction (infundibular and valvular pulmonary stenosis) Right ventricular hypertrophy Epidemiology TOF affects 3-6 infants in every 10, 000 births. [1] Aetiology [4] The aetiology is unknown, but evidence suggests a multifactorial cause. Antenatal risk factors are:- Maternal rubella (or other viral infections during pregnancy) Poor antenatal nutrition Maternal alcohol use Maternal age > 40 years Diabetes Children with Down syndrome have a higher risk of TOF. Presentation [4] Symptoms Very few infants present with severe cyanosis in the first few days of life with duct-dependent pulmonary circulation. Most infants are diagnosed by murmur at the age of 1-2 months. Feeding difficulty and failure to thrive. Tet spells episodes of bluish pale skin during crying or feeding. Squatting is classical of infants with TOF. Exertional dyspnoea usually worsens with age. Physical examination Smaller than expected for age. Peripheral cyanosis is normally found at birth, and after 3-6 months, finger clubbing may develop. Cardiac examination:- A thrill at left sternal border. Ejection systolic murmur heard over the pulmonic area and the left sternal border. In babies with aortopulmonary collaterals, continuous murmurs may be detected The S2  is usually single. Diagnosis Diagnosis is through history and clinical examination, supported by chest x-ray and ECG, and confirmed by echocardiography. Bloods Haemoglobin and haematocrit are usually increased in relation to the degree of cyanosis. The arterial oxygen saturation varies from 65-70%. ECG ECG shows right ventricular hypertrophy (+ right axis deviation) and may also show right atrial hypertrophy. Imaging Radiography Classical boot-shaped heart. Echocardiography Used to diagnose ductus arteriosus, VSD, or ASD with Doppler echocardiography. *Comparison of Baby Js presentation to the classical presentation Baby J had severe pulmonary atresia (muscular in origin) due to a severely malrotated infundibular septum. He suffered from life-threatening cyanosis at birth which had to be attended to promptly by maintaining the patency of ductus arteriosis using prostaglandin E2. As he was highly symptomatic, a palliative surgery to increase pulmonary blood flow had to be done where he underwent placement of Melbourne shunt connecting his aorta to MAPCA. This was done hoping to promote the development of main pulmonary artery. Baby J also had another problem which was the 50% possible chance of inheriting Alagilles syndrome (autosomal dominant) from his father. His LFTs were checked for any liver abnormality which is commonly implicated in this syndrome. He also had spine X-ray to exclude spinal deformities. He will be having ophthalmology review soon as well. GMC theme 2: Treatment Acute treatment [4] Neonates with severe cyanosis due to ductal constriction are given an infusion of prostaglandin E2(0.05 to 0.1  ÃƒÅ½Ã‚ ¼g/kg/min IV) to reopen the ductus arteriosus. Tet spells are usually self-limiting and followed by a period of sleep. If prolonged (> 15 mins), treatment consists of:- [4] placing infants in a knee-chest position sedation and pain relief morphine  IM. IV fluids are used for volume expansion. Propanolol  IV acts as peripheral vasoconstrictor. Bicarbonate to correct acidosis. Muscle paralysis and artificial ventilator to reduce oxygen demand. Symptomatic or palliative treatment in first few months Palliative surgery can be performed in patients who are not suitable for complete repair or patients with tet spells. One of the commonly used procedures is the Blalock-Taussig shunt where the subclavian artery is connected to the ipsilateral pulmonary artery with a prosthetic graft. Baby J had a relatively new shunt placement (first developed in Melbourne) which connects the major aortopulmonary collateral artery (MAPCA) to aorta. This has been shown to promote the growth of central pulmonary artery. [2] Melbourne shunt: illustrates the completed shunt with the pulmonary artery anastomosed to the posterior and left lateral aspect of the ascending aorta close to the sinotubular junction. Adapted from Ref [2] Corrective Surgery Since TOF is a progressive disorder, Baby J will require a more definitive corrective surgery. Nowadays, surgery is commonly performed electively at around 6 months of age (or before 1 year). The timing of complete surgical repair on Baby J will depend on numerous factors like further symptoms, severity of lesions (multiple VSDs, pulmonary atresia),etc. Complete repair is achieved by patch closure of VSD and widening of right ventricular outflow tract. Perioperative mortality rate is   Primary repair is beneficial in terms of preventing long-term right ventricular outflow obstruction and the consequential development of right ventricular hypertrophy, prolonged cyanosis, and postnatal angiogenesis. [1] Summary Survival in children with simple forms of TOF is promising and quality of life is good. Studies showed that survivors are in NYHA 1 class with minimal reduction in exercise capacity. However, Baby J has a rather severe form of TOF and it is difficult to predict his prognosis as for now. This will depend on his progress after corrective surgery repair done. He will need life-long cardiac review and this can be quite stressful for the child and the family as well. Baby J is fortunate to have good supportive parents who are both rather anxious about the childs condition during the interview.

Role Of Financial Markets In A Modern Economy

Role Of Financial Markets In A Modern Economy This essay examines the assumption, that a large financial sector consistently benefits the real economy. It has been acknowledged that the financial sector, not to mention some of its components, may sometimes become too large. It can end up posing a threat to both economic and financial stability, so the essay develops our understanding of where the optimal threshold lies. The regulatory measures and addresses the problem best: namely, preventing the financial industry from becoming too large and taking excessive risks, leading to the emergence of bubbles, and to the production of complex and dense financial instruments. And we should avoid imposing restrictive measures that will prevent the financial sector from channelling resources towards productive opportunities. In doing so, we need to make sure that our measures target non-traditional financial markets as much as traditional banking, in order not to encourage regulatory arbitrage and a return to business as usual outside the auspices of regulators. Financial innovation can impose a threat to both economic and financial stability, so we have to enhance our understanding of where the best possible threshold lies in determining the size of the financial systems. There is an emerging consent that while financial markets are generally conducive to economic growth, in the run-up to the recent crisis they were operating on an extreme scale. This essay will converse around four main points: firstly that efficient financial markets enhance growth, however, if they grow too large, then they may lead to a misallocation of resources and cause costly crises. Secondly, facts will be presented showing that in the build-up to the crisis, the size of the financial sector outgrew its trend. Thirdly, identification of some of the main reasons why this occurred and argued how to avoid that such imbalance again. To this end, regulation and supervision can play an important role. Lastly, while ensuring that the financial sector does not grow beyond its optimal size, the new regulatory framework should not reach the point of financial domination. The knowledge from recent industrialised countries has relatively claim, that deeper financial markets improve economic efficiency, lead to a better allocation of productive capital, and increase long-term economic growth. However, the frequent financial shocks associated with dynamic financial industries, and in particular the recent economic crisis, also highlight the role large financial markets play in downside risk. This mutually shows that there is a trade-off between a highly vibrant financial sector and the overall stability of the financial system. (Ranciere, R., Tornell, A., and F. Westermann, 2008) The first part of this essay will argue the aspects of the financial sector which can give us key insights into this trade-off is its size. When reasonably large, financial markets promote economic efficiency by recognising productive opportunities and transforming savings into the investment vitally to finance those opportunities. However, when they become too large, relative to what is implied by economic fundamentals, problems like financial complexity, poorly understood financial innovation, flock behaviour, and endogenous risk-taking to name just a few suddenly outweigh the benefits. The recent financial and economic crisis is a stark example of that. The pre-crisis period was characterised by the growing size, complexity and connectiveness of financial markets, with ensuing unfavourable effects on the global economy. In order to address the problem, regulatory measures are being taken to impose limits on the tendency of the financial sector to create downside risk. But a fine balance needs to be reached: these measures must be effective but not penalizing; they need to address the core of the problem without excessively limiting the ability of financial markets to sustain economic growth. Before going on the second point, it is perhaps useful to explain why we still need a large and dynamic financial industry. In general, deep and efficient financial markets improve economic performance both by raising the level of growth and by allocating productive capital more efficiently, ultimately generating benefits for the society as a whole( Rajan, R., and L. Zingales, 1998) . The difference is particularly noticeable when it comes to the financing of innovative ideas, where the much larger US venture capital industry has been credited over the years with the emergence of whole new industries and such innovative corporate giants as Microsoft, Cisco Systems and Google. All this leads us to the second point of the essay, which is how the size of the financial sector outgrew its trend. Most economists think the relationship between finance and growth as one in which more is better. However, the recent crisis has revealed that a financial sector which goes beyond a certain threshold (or breaking point) can harm the economy and society as a whole. In particular, an oversized financial industry tends to intensify information asymmetries, moral hazard problems, and the hunt for yield, leading to excessive risk-taking and over-leveraging of the system. The events of 2007-2008 suggest that when financial sectors are too large, the allocation of resources may become inefficient. Numerous examples of misallocation were associated with the credit growth of the early 2000s as well, of which the expansion of the US sub-prime mortgage market is just the most obvious one. We can think of examples in Europe too for instance, growth in Spain relied for years on an ever-expanding real estate sector fuelled by increasing borrowing.( Popov, A., and P. Roosenboom, 2009) After discussing the negative penalties on financial stability and economic growth that a too large financial sector can generate, in this section I will analyse available evidence to show that the financial industry as a whole has grown to a sub-optimal size. It is important to note that this is not due to rising compensation in traditional financial sectors like credit and insurance, but due to the large increase in compensation in non-traditional financial activities like investment banks, hedge funds and the like (Figure 1) below. This is another reason why any changes to the regulatory environment aimed at preventing systemic crises in the future will have to deal not just with the traditional banking sector, but with the so-called shadow banking sector as well. Unfortunately, it is not clear whether the crisis has imposed discipline on the financial sector. In theory, one would have expected the crisis to have resulted in, for instance, a new bonus structure with smaller rewards for short-term behaviour, less proprietary trading and more trading on own resources, greater aversion to the accumulation of debt, etc. To find possible remedies to the excessive size of the financial sector, it is important to understand the factors that have allowed it to grow too big, which leads us to the third part of the essay. As mentioned before, one obvious reason is excessive profits. Not only did rapid financial innovation enable Wall Street to encourage risk-taking through record pay, but this process also diverted human resources away from more traditional productive occupations towards the shadow banking system. Of course, an equally important reason for the increase in the size of the financial sector is the global accumulation of savings over time. It has been argued that the pre-crisis boom in US real estate and securitisation markets reflected high foreign demand for safe US assets resulting from excess world savings in the context of persistent global imbalances.( Caballero, R., and A. Krishnamurthy, 2009) According to this interpretation, foreign asset demand not only pushed down the risk-free interest rate in the US but also compressed the risk premier on risky assets. The low cost of financing, in turn, fostered an increase in the level of leverage of the domestic financial sector which exacerbated systemic risk While the recent increase in the profits of the industry was certainly due to improved financial innovation and technology, it can also be attributed to the higher risks that the financial sector undertook.(Biais, B., Heider, F. and M. Hoerova, 2010)By limiting these risks, it will be possible to reduce the size of the financial sector as well. For instance, suppose that risks decrease because of limits to leverage. This may imply that profits will go down as well. As a consequence, the financial sector will attract fewer resources, private capital will flow to more profitable industries, and its size will decrease. A natural question is how the new regulatory framework will affect economic growth. This question will answer the final part of the essay. It is necessary to ensure financial stability and restrain excessive credit, at the same time this process should not go too far and impair economic growth. There is substantial macro level evidence that the depth of the credit markets measured alternately as liquid liabilities and commercial bank credit to the private sector is associated with higher economic growth. (King, R., and R. Levine, 1993.) Changes in the supply of credit, both in terms of volumes and credit standards, have been shown to have a significant effect on real economic activity through business lending; the evidence is stronger for the euro area than the US. Studies that have gone into the mechanisms of this effect have generally concluded that the positive effect of credit markets on growth comes from reallocation of investment from dying to booming sectors, from higher rat es of new business entry, and from higher growth of industries consisting mainly of small firms. As I mentioned above, the expansion of sub-prime lending clearly imposed a negative externality on the whole economy, and so in hindsight regulatory measures that would have prevented such credit expansion could in fact have been beneficial. To summarise, capital requirements, and leverage ratios serve well to illustrate the trade-off between stability and growth as mentioned at the beginning. The examples provided earlier show that the costs incurred when an oversized financial system unwinds are very large and outweigh any pre-crisis gains. Therefore, practical regulatory actions are to restore the balance between stability and growth is perfectly justified. Conclusion Financial markets are central players in a dynamic modern economy, channelling resources from savers to borrowers and allocating them to productive investment opportunities. At the same time, our experience in the past decade has highlighted the dangers of allowing financial sectors to become too large. In doing so, negative developments like the hunt for rents, the propensity to herd and create bubbles, the misalignment of incentives, and the production of complex innovative financial instruments may outweigh the benefits of finance. Given the obvious negative impact of an excessively large financial industry, we keep asking ourselves whether limits should be imposed on the size of the financial sector itself. It must be clear from the evidence that has been presented that the answer to this question is yes. However, it is also essential to make sure that we do not repress financial markets to the point of jeopardising their contribution to growth. Therefore, the measures outlined are aimed at making the industry safer rather than weaker, and should not be considered punitive. Their goal is to re-direct the financial sector so that it avoids embarking on unsustainable patterns. These actions are aimed at commercial banks as well as at non-traditional financial players to make sure that excessive risk-taking is not taking place outside the auspices of regulators. Ensuring that the financial sector is large enough to strengthen the economy while not being too large is a task that we take very seriously. There is a clear trade-off between economic growth and financial stability, and it is a difficult but critical task to strike a good balance, ensuring that we end up neither with too little growth nor with too little stability.

Managing People :: essays research papers

Managing People Task One Discuss how you would approach the task initially. I would initially approach the task slowly and carefully. I would carefully read the brief for the task, underlining or highlighting the important parts of the brief that concern the jobs and roles performed by Mrs. Pane. I would also try to gather information about the tasks and roles she performed. The brief describes how Mrs. Pane performed the jobs of a Receptionist/Telephonist and also that of a personal assistant. After gathering information on these jobs I would then try to break down each different aspect of the job i.e. Receptionist- fluent in typing. After I have broke down each job aspect I could then start to write the person specification element of the assignment. To write the person specification properly I would have to decide what the aspects of the job were desirable and what aspects were essential to the job. To successfully produce my own job advertisement I would need to look at job advertisements that are already in local newspapers and local job papers. I believe that the advertisement needs to contain all relevant information on the job vacancy but must also give a brief history of the company and maybe also an indication of how the company wants to grow or expand in the future. The advert could also include the mission statement of the company. Task four I would approach by considering what companies look for in potential employees i.e. personal qualities not just purely on qualifications. All the tasks have to be looked at carefully to make sure that no law or legislation is broken. Task Four Outline how you would select a candidate from the 27 applicants, including the main elements of documentation. Before selecting a candidate, the applications would have to go through many different filtering and screening processes. I would have the applicants send their c.v’s to the company because a c.v can contain a lot more information about someone than an application form because of its limited questions. One of the first filters in my selection would be age. I believe that someone under thirty would not have the experience or the relevant knowledge to perform the job of personal assistant and receptionist. However I also believe that someone over fifty would struggle to keep on top of such a heavy workload. I believe that employing someone over fifty does not show that you are thinking long term about the future success of a company.

To Kill A Mockingbird: Influences on Scout from Interactions w/ Others :: Free Essay Writer

To Kill A Mockingbird: Influences on Scout from Interactions w/ Others Growing up in Maycomb, Southern Alabama in the 1930s was not an easy thing. Amid a town of prejudice and racism, stood a lone house where equality and respect for all gleamed like a shining star amid an empty space. The house of Atticus Finch was that shining star. Jean Louise Finch, also known as â€Å"Scout†, is given the opportunity of being raised in this house by her father, Atticus. I stole this essay from the net. As she grows, Atticus passes down his values of equality and righteousness to Scout and her brother Jeremy Atticus Finch, also known as â€Å"Jem†. In â€Å"To Kill a Mockingbird†, by Harper Lee, we see Scout learns many lessons about dealing with prejudice by observing the behavior of other characters in the story. Scout learns that by yielding to prejudice, we often hurt and cause strife unto others. For example, Scout is harassed and becomes the target of insults when her father decides to defend Tom Robinson, a black man accused of raping a white woman. This is a plajurized essay. The hate felt towards black people by the majority of the Maycomb citizens causes them to bother and harass those who attempt to befriend the black people. Forgive me for stealing this essay. Scout realizes that the only reason she must undergo this torment is that her father is defending a black man, which has become taboo because of the corruption that racism has caused in many people. In addition, Scout watches Tom Robinson undergo unfair treatment and false accusations. Please dont tell my parents I stole this essay. Although Atticus provides the jury and the people of Maycomb with overwhelming evidence benefiting Tom, and ultimately proving him innocent, this is not enough to overcome the powers of hate and ra cism. Scout watches as the jury deliberates and convicts Tom Robinson of murder because he is a black man. This is a stolen essay. Although Scout witnesses a myriad of injustices occurring against black people, she also sees an exiguity of kind and compassionate movements towards black people. Scout learns that by resisting prejudice, we often help others. For example, Scout sees Atticus defend Tom Robinson, despite the white people of the town’s disapproval. By defending Tom, Atticus paves a small pathway in Maycomb for black people to follow to attempt to raise their social status.

Can a Person Really Make Up for Past Mistakes?

CAN A PERSON REALLY MAKE UP FOR PAST MISTAKES? No one can erase the past. When a mistake is made, whether it be huge or small ,it can damage us for life or make us stronger. Mistakes can be positive by learning from them and passing on advice to others. It is the way we learn. Starting as an infant. When an infant starts to walk he falls then he learns not to walk too fast and to put one foot beside the other. This is the way coordination is developed by mistakes. As a child matures he learns physical hurt.When the stove is on and he touches it when he gets burnt Most children will not intentionally touch a hot stove. When trying to do something for the first time very few will do it perfect. I do not know of any cases but I am sure it has happened. People can be sorry for their mistakes. Some may excel other areas in order to compensate for past mistakes. This can be a way to suppress the guilt. The sub-conscience is telling the body to keep busy because the pain felt from the mista ke is too hard to think about.If people keep doing the same mistakes over and over again on purpose it defeats the whole aspect of mistakes being a positive experience. It can resulting a habit that may be accepted as a part of life. Some mistakes are harder to learn from the others. Most mistakes, if recognized and thought about are solvable. Mistakes and sin are not the same. A sin is much worse than a mistake although they are both wrong and everyone does both. A sin has to do with spirituality and can only be forgiven by God.A sin can be anywhere from an intentional wrong to pure wickedness. A mistake is a misconception of actions or a misinterpretation of words. Humans can forgive mistakes. Mistakes can be turned into sins by rationalization and convincing oneself that they are right. Actions done to each other in order to psychologically and physically damage someone are sadistic and are definitely sins and need God's forgiveness. Mistakes can be deadly but not sinful. A car c an blow a tire and hit someone and kill them that is an accident not a sin.Taking a gun an shooting an innocent person in order to kill or maim them is sinful. As humans our purpose is to point out others transgressions and try to help them become better people. We are not her to judge people and condemn each other for their mistakes and sins. That is only a false concept to our ego to allow our minds to think we are better people. Actually the only way to become a better person is have compassion and forgiveness for others because we all make mistakes and we are all sinners.

Marketing of Guimaras Mangoes to the United States Essay

The meaty flesh of a mango fruit is sweet, but the fruit’s pit is so large and hard. Ripe mangoes are fragrant and soft to the touch, but not mushy. Mangoes can be processed into a number of unique products such as dried mangoes, puree, juice, chutney, halves and scoops, jelly jams, and pickles. A uniform quality and an adequate supply are assured throughout the year through processing. Processed mangoes enable exporters to serve their markets even during off season period for fresh mangoes. Also, exporters can penetrate buying countries with strict phytosanitary requirements by supplying processed mangoes. The distinct taste and nutritional value of Guimaras mango variety puts it above any other mango in the world. Mango is one of the priority crops being supported by the major programs of the Department of Agriculture (DA); Mangoes are included among the high value crops to be given priority under the High Value Crop Law. Distribution is an exceptionally important phase in the marketing of mangoes. The fruit after harvest has to pass through several agencies before reaching the consumers. The Philippines has already established its credibility in supplying high quality mangoes to important markets especially to the United States. The recent organization of the Philippine Mango Development Council provided the impulsion to unite the key players of the industry into a single advocacy group that will work together for the sustainable development of the Philippine Mango Industry. REVIEW OF RELATED LITERATURE One of man’s greatest triumphs in the cultivating of wild plants is the cultivated mango. Centuries of cultivation and selection produced a luscious fruit. Many varieties are grown in different countries. Here in the Philipines, Guimaras is known as the â€Å"Mango Country†, gaining the name because of its sweetest and big-sized mangoes. Based on the data of the National Statistical Coordination Board of the Republic of the Philippines, the year 2002 was a good year for Guimaras’ mangoes. It was in this year that it formally joined the world export market and cooperatively, production soared to its highest for the last three years. 2002 production posted a growth of 446.40 percent or five times higher over the 2001 production. Despite the decrease in the number of fruit-bearing trees, more trees were induced to flower as favored by the weather conditions. The Philippine mango, considered in western countries as an exotic tropical fruit, is fast gaining popularity worldwide. It is the third biggest dollar earning fruit next to banana and pineapple. But competition from other countries has led to stricter international standard controls for mango and the fruits produced in Pangasinan and the other Ilocos provinces have yet to meet quality standards demanded by the United States. The United States may open its market to Philippine mangoes, with that country’s agriculture department funding a survey to find out which mango-producing areas have no incidence of mango seed and pulp weevils. Major importers of Philippine mangoes in the United States are looking forward to less costly mangoes from Manila with the decision by the US government in December to allow other provinces in the Philippines to export the produce. A United States-based Philippine official has revealed the introduction of a technology that would help cut down the shipping cost of Philippine mango exports to that country. Eventually, such technology would also allow mangoes from other areas of the country to enter the US market. Presently, only mangoes from Guimaras Island have been allowed in the US. According to Victoriano Leviste, agriculture attachà © at the Philippine embassy in Washington DC, The key is to create a niche market through our Filipino residents and possibly other Asians. Philippine Super Mango (carabao) has been gaining popularity in the US market as a sweet and more luscious fruit. The Philippine mango, coming from Guimaras Province in the Visayas, was only able to enter the US market in May, last year, after 15 years of negotiations with the US Department of Agriculture. Only Guimaras mangoes are so far accepted in the US. Mangoes from other areas of the country allegedly have fruit flies. Guimaras has been considered a pest-free zone and an ideal source of mango exports to the US. It is encouraging to note that the importance of the mango industry to the Philippine economy is now being recognized by all concerned sectors. The mango industry has provided livelihood opportunities to its growers and to those involved in its marketing channels. Similarly important is its significant contribution to the country’s export earnings being the third ranking fruit export, next to banana and pineapple. The Philippines is one of the top mango producing countries in the world with an estimated 2% share of the world’s 23.4 million tons production in 1997. The other top mango producing countries are India where 51% of total world production of mangoes comes from, China with 9% share. Mexico and Thailand both with 6% share. Exporting is one factor that helps our economy to sustain its stability with different problems it encounters. The need for unity among mango growers here in the Philippines is very important to be able to enhance the competitiveness of our own mangoes both in the local and world market. The recent formation of the Philippine Mango Development Council (Philmango), which was initiated by the DA Agribusiness and Marketing Assistance Service (AMAS), is a big step towards the proper orchestration of strategic interventions for the mango industry. CONCLUSION Mangoes from Guimaras indeed goes beyond quality and taste compared with other mangoes exported from different countries. The target of introducing and marketing of mangoes produced from different regions here in the Philippines to the United States should be endorsed. Only mangoes from Guimaras passed the standards in the United States. In order for our mango producers to enter the US market, there should be proper technology to assure consistent quality and supply. The bulk of the country’s mango output are grown in backyard farms which makes it hard to assure uniform and consistent supply of mangoes. There are limited commercial farms, and exports are basically consolidation of produce from backyard orchards and small farms. Also, the lack of commercial technology in the packaging and in preserving the freshness to offset the long stretch from the source to distant foreign markets such as the United States should also be taken into consideration. Lastly, inefficiency and high freight charges from the local shipping industry caused so much burden. It adversely affected the smooth delivery of mangoes to its markets. Mangoes coming from Visayas and Mindanao should be transported to Manila before it is exported to foreign countries; the significant increase of price due to high transport costs makes it difficult to reach its destination. REFERENCES Kotler, P. 1980. Marketing Management. New Jersey: A Simon & Schuster Company Compton’s Encyclopedia http://www.nscb.gov.ph http://www.organicconsumers.org Leovelyn Hope B. Parreà ±oFebruary 26, 2010 BSBM 4/ SOCIO 01Mr. Don Velez COMPARE THE EXPERIENCES YOU HAD IN PRIMARY SOCIAL GROUP TO YOUR EXPERIENCES IN SECONDARY SOCIAL GROUP If there’s someone who can give me good and true pieces of advice, it would be no less than my family. Every day, I came to meet and bump with different people. And these persons gave another dimension in my life. My second family, the organizations I have here in school also welcomed me. But there is indeed a significant difference with the way they care for each members. My family treats me, accepts me and understands me for the person I am. They believed in my capabilities and support me with my ambitions in life. My family gives me inspiration in everything I do. I can count on them especially in times when I experienced the down moments of my life. There was never a time when they left my side. On the other hand, my second family also gives another meaning in my life. Though I am part of the family, there is no assurance that they will always be there for me through thick or thin. They also have their priorities in life. Though they can be there when I a want shoulder to cry on, or help me out with problems in school but it is just temporary. They all come and go. Abstract Mango is one of the commercially and economically essential horticultural fruit crops in the Philippines. It is the third most important fruit crop, next to banana and pineapple in terms of dollars earned. It is considered as a national fruit in this country. Mangoes specifically coming from Guimaras can be eaten ripe or unripe. It is very popular around the world because of its exotic taste. The paper aims to exemplify the export of these mangoes which placed the country’s competitiveness in the world market and how it captured the United States.

Icici Bank Report

ICICI BANK ABOUT ICICI BANK: ICICI Bank is India's second-largest bank with total assets of Rs. 4,736. 47 billion (US$ 93 billion) at March 31, 2012 and profit after tax Rs. 64. 65 billion (US$ 1,271 million) for the year ended March 31, 2012. The Bank has a network of 2,766 branches and 9,363 ATMs in India, and has a presence in 19 countries, including India.ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management. ICICI Bank started as a wholly owned subsidiary of ICICI Limited, an Indian financial institution, in 1994. Four years later, when the company offered ICICI Bank's shares to the public, ICICI's shareholding was reduced to 46%.In the year 2000, ICICI Bank offered made an equity offering in the form of ADRs on the New York Stock Exchange (NYSE), thereby becoming the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE. In the next year, it acquired the Bank of Madura Limited in an all-stock amalgamation. Later in the year and the next fiscal year, the bank made secondary market sales to institutional investors.With a change in the corporate structure and the budding competition in the Indian Banking industry, the management of both ICICI and ICICI Bank were of the opinion that a merger between the two entities would prove to be an essential step. It was in 2001 that the Boards of Directors of ICICI and ICICI Bank sanctioned the amalgamation of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank.In the following year, the merger was approved by its shareholders, the High Court of Gujarat at Ahmedabad as well as the High Court of Judicature at Mumbai and the Reserve Bank of India. ICICI Bank has its equity shares listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited. Overseas, its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE). As of December 31, 2008, ICICI is India's second-largest bank, boasting an asset value of Rs. 3,744. 10 billion and profit after tax Rs. 30. 14 billion, for the nine months, that ended on December 31, 2008. BRANCHESOFATMS:ICICI Bank has a wide network both in Indian and abroad. In India alone, the bank has 1,420 branches and about 4,644 ATMs. Talking about foreign countries, ICICI Bank has made its presence felt in 18 countries – United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. The Bank proudly holds its subsidiaries in the United Kingdom, Russia and Canada out of which, the UK subsidiary has established branches in Belgium and Germany. Products Personal Banking * Deposits * Loans Cards * Investments * Insurance * Demat Services * Wealth Management NRI Banking * Money Transfer * Bank Accounts * Investments * Property Solutions * Insurance * Loans Business Banking * Corporate Net Banking * Cash Management * Trade Services * FXOnline * SME Services * Online Taxes * Custodial Services Board Members * Mr. K. V. Kamath,- Chairman * Mr. Sridar Iyengar * Dr. Swati Piramal * Mr. Homi R. Khusrokhan * Mr. Arvind Kumar * Mr. M. S. Ramachandran Dr. Tushaar Shah Mr. V. Sridar Ms. Chanda Kochhar, Managing Director & CEO Mr. N. S. Kannan, Executive Director & CFO Mr. K. Ramkumar, Executive Director Mr. Rajiv Sabharwal,Executive Director Head Office ICICI Bank 9th Floor, South Towers ICICI Towers Bandra Kurla Complex Bandra (E) Mumbai Phone: 91-022-653 7914 Website: www. icicibank. com SWOT ANALYSIS: Strengths of ICICI Bank * ICICI is the second largest bank in ter ms of total assets and market share * Total assets of ICICI is Rs. 4062. 34 Billion and recorded a maximum profit after tax of Rs. 51. 51 billion and located in 19 countries * One of the major strength of ICICI bank according to financial analysts is its strong and transparent balance sheet * ICICI bank has first mover advantage in many of the banking and financial services.ICICI bank is the first bank in India to introduce complete mobile banking solutions and   jewelry card * The bank has PAN India presence of around 2,567 branches and 8003 ATM’s * ICICI bank is the first bank in India to attach life style benefits to banking services for exclusive purchases and tie-ups with best brands in the industry such as Nakshatra, Asmi, D’damas etc * ICICI bank has the longest working hours and additional services offering at ATM’s which attracts customers * Marketing and advertising strategies of ICICI have good reach compared to other banks in India Weaknesses of  ICICI Bank Customer support of ICICI section is not performing well in terms of resolving complaints * There are lot of consumer complaints filed against ICICI * The ICICI bank has the most stringent policies in terms of recovering the debts and loans, and credit payments. They employ third party agency to handle recovery management * There are also complaints of customer assault and abuse while recovering and the credit payment reminders are sent even before the deadlines which annoys the customers * The bank service charges are comparatively higher The employees of ICICI are bank in maximum stress because of the aggressive policies of the management to win ahead in the race. This may result in less productivity in future years Opportunities of  ICICI Bank * Banking sector is expected to grow at a rate of 17% in the next three years * The concept of saving in banks and investing in financial products is increasing in rural areas as more than 62% percentage of India’s popu lation is still in rural areas. As per 2010 data in TOI, the total number b-schools in India are more than 1500. This can ensure regular supply of trained human power in financial products and banking services * Within next four years ICICI bank is planning to open 1500 new branches * Small and non performing banks can be acquired by ICICI because of its financial strength * ICICI bank is expected to have 20% credit growth in the coming years. * ICICI bank has the minimum amount of non performing assets Threats of  ICICI Bank RBI allowed foreign banks to invest up to 74% in Indian banking * Government sector banks are in urge of modernizing the capacities to ensure the customers switching to new age banks are minimized * HDFC is the major competitor for ICICI, and other upcoming banks like AXIS, HSBC impose a major threat * In rural areas the micro financing groups hold a major share * Though customer acquisition is high on one side, the unsatisfied customers are increasing and ma ke them to switch to other banks. PORTER’S FIVE FORCE ANALYSIS: Bargaining Power of Suppliers: * Inputs have little impact on costs When inputs are not a big component of costs, suppliers of those inputs have less bargaining power. Low cost inputs positively affect  ICICI Bank. Bargaining Power of Customers * Large number of customers * When there are large numbers of customers, no one customer tends to have bargaining leverage. Limited bargaining leverage helps  ICICI Bank. Intensity of Existing Rivalry * Low storage costs (ICICI Bank) * Government limits competition (ICICI Bank) * Large industry size (ICICI Bank) Threat of Substitutes New Aspirants in Banking sector like AV Birla, Tata Group,  IFCI etc. Threat of New Competitors * Strong distribution network required (ICICI Bank) * High capital requirements (ICICI Bank) * High sunk costs limit competition (ICICI Bank) * Industry requires economies of scale (ICICI Bank) * Geographic factors limit competition (ICICI Ba nk) * High learning curve (ICICI Bank) SUBSIDIARIES COMPANIES: At March 31, 2012, ICICI Bank had 17 subsidiaries as listed in the following table: DOMESTIC SUBSIDIARIES * ICICI Securities Primary Dealership Limited * ICICI Prudential Asset Management Company Limited ICICI Prudential Trust Limited * ICICI securities Ltd. * ICICI Venture Funds Management Company Limited * ICICI Prudential Life Insurance Company Limited * ICICI Prudential Pension Funds Management Company Limited * ICICI Lombard General Insurance Company Limited * ICICI Home Finance Company Limited * ICICI Investment Management Company Limited * ICICI Trusteeship Service Limited INTERNATIONAL SUBSIDIARIES: * ICICI Bank UK PLC * ICICI Securities Inc. * ICICI International Ltd. * ICICI Bank Eurasis Ltd. Liability Company. * ICICI Securities Holdings, Inc * ICICI Bank Canada FINANCIAL HIGHLIGHTS:As required by United States securities regulations, ICICI Bank Limited (NYSE: IBN) filed its annual report in Form 20-F for the year ended March 31, 2012 (FY2012) on July 31, 2012. The Form 20-F annual report includes the Bank’s consolidated financial statements under Indian GAAP and a reconciliation of consolidated profit after tax and net worth under Indian GAAP to net income and stockholders’ equity under US GAAP, approved by the Audit Committee of the Board. The consolidated profit after tax for FY2012 under Indian GAAP was Rs. 7,643 crore (US$ 1,502 million) and the net income under US GAAP was Rs. ,998 crore (US$ 1,375 million). Stockholders’ equity as per US GAAP was ` 63,872 crore (US$ 12. 55 billion) at March 31, 2012 compared to the consolidated net worth as per Indian GAAP of ` 61,277 crore (US$ 12. 04 billion) ICICI BANK Key Financial Ratios of ICICI Bank Mar’12 | Mar’11| Mar '10| Mar '09| Mar '08| investment Valuation Ratios| | | | | Face Value| 10. 00| 10. 00| 10. 00| 10. 00| 10. 00| Dividend Per Share| 16. 50| 14. 00| 12. 00| 11. 00| 11. 00| Operating Profit Per Share (Rs)| 76. 15| 64. 08| 49. 80| 48. 58| 51. 29| Net Operating Profit Per Share (Rs)| 346. 19| 281. 04| 293. 74| 343. 9| 354. 71| Free Reserves Per Share (Rs)| 376. 49| 358. 12| 356. 94| 351. 04| 346. 21| Bonus in Equity Capital| –| –| –| –| –| Profitability Ratios| | | | | Interest Spread| 4. 44| 4. 01| 5. 66| 3. 66| 3. 51| Adjusted Cash Margin(%)| 17. 45| 17. 52| 13. 64| 11. 45| 11. 81| Net Profit Margin| 16. 14| 15. 91| 12. 17| 9. 74| 10. 51| Return on Long Term Fund(%)| 52. 09| 42. 97| 44. 72| 56. 72| 62. 34| Return on Net Worth(%)| 10. 70| 9. 35| 7. 79| 7. 58| 8. 94| Adjusted Return on Net Worth(%)| 10. 70| 9. 27| 7. 53| 7. 55| 8. 80| Return on Assets Excluding Revaluations| 524. 01| 478. 31| 463. 01| 444. 94| 417. 4| Return on Assets Including Revaluations| 524. 01| 478. 31| 463. 01| 444. 94| 417. 64| Management Efficiency Ratios| | | | | Interest Income / Total Funds| 9. 07| 8. 41| 8. 82| 9. 82| 10. 60| Net Interest Income / Total Fun ds| 3. 89| 4. 01| 4. 08| 3. 99| 4. 29| Non Interest Income / Total Funds| 0. 03| –| 0. 08| 0. 08| 0. 02| Interest Expended / Total Funds| 5. 18| 4. 41| 4. 74| 5. 83| 6. 31| Operating Expense / Total Funds| 1. 89| 2. 09| 2. 59| 2. 60| 2. 76| Profit Before Provisions / Total Funds| 1. 91| 1. 77| 1. 41| 1. 30| 1. 40| Net Profit / Total Funds| 1. 47| 1. 34| 1. 08| 0. 96| 1. 12| Loans Turnover| 0. 8| 0. 17| 0. 17| 0. 18| 0. 20| Total Income / Capital Employed(%)| 9. 10| 8. 41| 8. 90| 9. 90| 10. 62| Interest Expended / Capital Employed(%)| 5. 18| 4. 41| 4. 74| 5. 83| 6. 31| Total Assets Turnover Ratios| 0. 09| 0. 08| 0. 09| 0. 10| 0. 11| Asset Turnover Ratio| 0. 09| 3. 55| 4. 60| 5. 14| 5. 61| Profit And Loss Account Ratios| | | | | Interest Expended / Interest Earned| 68. 00| 65. 29| 68. 44| 73. 09| 76. 28| Other Income / Total Income| 0. 37| 0. 02| 0. 92| 0. 86| 0. 17| Operating Expense / Total Income| 20. 77| 24. 81| 29. 05| 26. 22| 26. 00| Selling Distribution Cost Composition| 0. 73| 0. 94| 0. 72| 1. 4| 4. 43| Balance Sheet Ratios| | | | | Capital Adequacy Ratio| 18. 52| 19. 54| 19. 41| 15. 53| 13. 97| Advances / Loans Funds(%)| 65. 30| 64. 96| 58. 57| 69. 86| 72. 67| Debt Coverage Ratios| | | | | Credit Deposit Ratio| 92. 23| 87. 81| 90. 04| 91. 44| 84. 99| Investment Deposit Ratio| 61. 16| 59. 77| 53. 28| 46. 35| 42. 68| Cash Deposit Ratio| 8. 60| 11. 32| 10. 72| 10. 14| 10. 12| Total Debt to Owners Fund| 4. 23| 4. 10| 3. 91| 4. 42| 5. 27| Financial Charges Coverage Ratio| 0. 39| 0. 44| 0. 33| 0. 25| 1. 25| Financial Charges Coverage Ratio Post Tax| 1. 31| 1. 34| 1. 26| 1. 20| 1. 20| Leverage Ratios| | | | |Current Ratio| 0. 13| 0. 11| 0. 14| 0. 13| 0. 11| Quick Ratio| 16. 71| 15. 86| 14. 70| 5. 94| 6. 42| Cash Flow Indicator Ratios| | | | | Dividend Payout Ratio Net Profit| 32. 82| 35. 23| 37. 31| 36. 60| 33. 12| Dividend Payout Ratio Cash Profit| 30. 36| 31. 76| 32. 33| 31. 00| 29. 08| Earning Retention Ratio| 67. 19| 64. 49| 61. 40| 63. 23| 66. 35| Cash Earning Retention Ratio| 69. 65| 68. 01| 66. 70| 68. 87| 70. 51| AdjustedCash Flow Times| 36. 54| 39. 77| 44. 79| 49. 41| 52. 34| | | | Mar '12| Mar '11| Mar '10| Mar '09| Mar '08| | | | | | | Earnings Per Share| 56. 09| 44. 73| 36. 10| 33. 76| 37. 7| | | | | | Book Value| 524. 01| 478. 31| 463. 01| 444. 94| 417. 64| | | | | | Source:Moneycontrol. com ANALYSIS AND INTERPRETATION: CURRENT RATIO: STUDY OF PROFIT AND LOSS ACCOUNT: Meaning: It is a financial statement, which shows net profit & loss of a company for a specified period. The accounting year means calendar year 12 months or less or more then 12 months. Parts of the Profit and Loss Account The Profit & Loss Account aims to monitor profit. It has three parts. 1) The Trading Account. This records the money in (revenue) and out (costs) of the business as a result of the business †trading† ie buying and selling.This might be buying raw materials and selling finished goods; it might be buying goods wholesale and selling them retail. The figure at the end of this section is the Gross Profit . 2) The Profit and Loss Account. This starts with the Gross Profit and adds to it any further costs and revenues, including overheads. These further costs and revenues are from any other activities not directly related to trading. An example is income received from investments. 3) The Appropriation Account. This shows how the profit is â€Å"appropriated† or divided between the three uses mentioned above. HORIZONTAL ANALYSIS:When an analyst compares financial information for two or more years for a single company, the process is referred to as horizontal analysis, since the analyst is reading across the page to compare any single line item, such assales revenues. In addition to comparing dollar amounts, the analyst computes percentage changes from year to year for all financial statement balances, such as cash and inventory. Alternatively, in comparing financial statements for a number of years, t he analyst may prefer to use a variation of horizontal analysis called trend analysis. VERTICAL ANALYSIS:When using vertical analysis, the analyst calculates each item on a single financial statement as a percentage of a total. The term vertical analysis applies because each year's figures are listed vertically on a financial statement. The total used by the analyst on the income statement is net sales revenue, while on the balance sheet it is total assets. This approach to financial statement analysis, also known as component percentages, produces common-size financial statements. Price/sale ratio: About Price to Sales Ratio(P/S) The price to sales ratio (PS ratio) is calculated by dividing stock price by the revenue per share.It is most useful for comparing companies within a sector or industry because â€Å"normal† values for this ratio vary from industry to industry. In general, low price to sales ratios are more appealing because they suggest that a company is undervalue d. P/E ratio: About Price to Earnings Ratio The price to earnings ratio (PE Ratio) is the measure of the share price relative to the annual net income earned by the firm per share. PE ratio shows current investor demand for a company share. A high PE ratio generally indicates increased demand because investors anticipate earnings growth in the future.The PE ratio has units of years, which can be interpreted as the number of years of earnings to pay back purchase price. PRICE/BOOK VALUE RATIO: About Price to Book Ratio The price to book value is a financial ratio used to compare a company's book value to its current market price. Book value is an accounting term denoting the portion of the company held by the shareholders at accounting value (not market value). In other words, book value is the company's total tangible assets less its total liabilities. DCF METHOD: Beta(? ) The Beta (? of a stock or portfolio is a number describing the correlated volatility of an asset in relation to the volatility of the benchmark that said asset is being compared to. This benchmark is generally the overall financial market and is often estimated via the use of representative indices, such as the S;P 500. An asset has a beta of zero if its moves are not correlated with the benchmark's moves. A positive beta means that the asset generally follows the benchmark, in the sense that the asset tends to move up when the benchmark moves up, and the asset tends to move down when the benchmark moves down.A negative beta means that the asset generally moves opposite the benchmark: the asset tends to move up when the benchmark moves down, and the asset tends to move down when the benchmark moves up. It measures the part of the asset's statistical variance that cannot be removed by the diversification provided by the portfolio of many risky assets, because of the correlation of its returns with the returns of the other assets that are in the portfolio. Beta can be estimated for individual companies using regression analysis against a stock market index. The formula for the beta of an asset within a portfolio is here ra measures the rate of return of the asset, rp measures the rate of return of the portfolio, cov(ra,rp) is the covariance between the rates of return. The portfolio of interest in the CAPM formulation is the market portfolio that contains all risky assets, and so the rp terms in the formula are replaced by rm, the rate of return of the market. Beta is also referred to as financial elasticity or correlated relative volatility, and can be referred to as a measure of the sensitivity of the asset's returns to market returns, its non-diversifiable risk, its systematic risk, or market risk.The market itself is considered to have a Beta of 1. Using regression analysis, the beta of the stock is calculated. If the beta of the stock is greater than 1, this means the stock’s prices are more volatile than the market, and vice verse. For example, if a stock ha s a beta of 1. 2, this means that a 1% change in the market index will bring about a 1. 2% change in the stock’s price. Stocks with high beta are considered to be more risky compared to the ones with low beta. Bollinger Bands: Bollinger Bands  is a  technical analysis  tool invented byJohn Bollinger in the 1980s, and a term  trademarked   by him in 2011.Having evolved from the concept of trading bands, Bollinger Bands and the related indicators  %b  and bandwidth  can be used to measure the highness or lowness of the price relative to previous trades. Bollinger Bands consist of: * an  N-period  moving average (MA) * an upper band at  K  times an  N-period  standard deviation  above the moving average (MA  +  K? ) * a lower band at  K  times an  N-period  standard deviation below the moving average (MA  ? K? ) Typical values for  N  and  K  are 20 and 2, respectively.The default choice for the average is a simple  moving av erage, but other types of averages can be employed as needed. Exponential moving averages  are a common second choice. Usually the same period is used for both the middle band and the calculation of standard deviation. INTERPRETATION: The use of Bollinger Bands varies widely among traders. Some traders buy when price touches the lower Bollinger Band and exit when price touches the moving average in the center of the bands. Other traders buy when price breaks above the upper Bollinger Band or sell when price falls below the lower Bollinger Band.Moreover, the use of Bollinger Bands is not confined to stock traders;  options  traders, most notably  implied volatility traders, often sell options when Bollinger Bands are historically far apart or buy options when the Bollinger Bands are historically close together, in both instances, expecting volatility to revert back towards the average historical volatility level for the stock. When the bands lie close together a period of low   volatility  in stock price is indicated. When they are far apart a period of high volatility in price is indicated.When the bands have only a slight slope and lie approximately parallel for an extended time the price of a stock will be found to oscillate up and down between the bands as though in a channel. Traders are often inclined to use Bollinger Bands with other indicators to see if there is confirmation. In particular, the use of an oscillator like Bollinger Bands will often be coupled with a non-oscillator indicator like  chart patterns  or a  trendline; if these indicators confirm the recommendation of the Bollinger Bands, the trader will have greater evidence that what the bands forecast is correct.Monte carlo simulation: Risk analysis is part of every decision we make. We are constantly faced with uncertainty, ambiguity, and variability. And even though we have unprecedented access to information, we can’t accurately predict the future. Monte Carlo simul ation (also known as the Monte Carlo Method) lets you see all the possible outcomes of your decisions and assess the impact of risk, allowing for better decision making under uncertainty. Monte Carlo simulation is a computerized mathematical technique that allows people to account for risk in quantitative analysis and decision making.The technique is used by professionals in such widely disparate fields as finance, project management, energy, manufacturing, engineering, research and development, insurance, oil & gas, transportation, and the environment. Monte Carlo simulation furnishes the decision-maker with a range of possible outcomes and the probabilities they will occur for any choice of action.. It shows the extreme possibilities—the outcomes of going for broke and for the most conservative decision—along with all possible consequences for middle-of-the-road decisions.The technique was first used by scientists working on the atom bomb; it was named for Monte Carl o, the Monaco resort town renowned for its casinos. Since its introduction in World War II, Monte Carlo simulation has been used to model a variety of physical and conceptual systems. ICICI BANK CHARTS The annotated chart above shows a stock that opened with a gap up. Before the open, the number of buy orders exceeded the number of sell orders and the price was raised to attract more sellers. Demand was brisk from the start. The intraday high reflects the strength of demand (buyers). The intraday low reflects the availability of supply (sellers).The close represents the final price agreed upon by the buyers and the sellers. In this case, the close is well below the high and much closer to the low. This tells that even though demand (buyers) was strong during the day, supply (sellers) ultimately prevailed and forced the price back down. Even after this selling pressure, the close remained above the open. By looking at price action over an extended period of time, we can see the battl e between supply and demand unfold. In its most basic form, higher prices reflect increased demand and lower prices reflect increased supply. Interpretation:The Rate-of-Change (ROC) indicator, which is also referred to as simply Momentum, is a pure  momentum oscillator  that measures the percent change in price from one period to the next. The ROC calculation compares the current price with the price â€Å"n† periods ago. The plot forms an oscillator that fluctuates above and below the zero line as the Rate-of-Change moves from positive to negative. As a momentum oscillator, ROC signals include centerline crossovers, divergences and overbought-oversold readings. Divergences fail to foreshadow reversals more often than not so this article will forgo a discussion on divergences.Even though centerline crossovers are prone to whipsaw, especially short-term, these crossovers can be used to identify the overall trend. Identifying overbought or oversold extremes comes natural to the Rate-of-Change oscillator. Standard deviation chart that measures the amount of variability or dispersion around an average. Standard deviation is also a measure of volatility. Generally speaking, dispersion is the difference between the actual value and the average value. The larger this dispersion or variability is, the higher the standard deviation. The smaller this dispersion or variability is, the lower the standard deviation.Chartists can use the Standard Deviation to measure expected risk and determine the significance of certain price movements. BRIEF ABOUT PORTFOLIO Annexure: News Analysis Regarding Portfolio * Bajaj Corp Nirmal Bang is bullish on Bajaj Corp and has recommended buy rating on the stock with a target of Rs 228 in its October 9, 2012 research report. â€Å"We have upgraded our FY13E and FY14E earnings estimates for Bajaj Corp (BCL) by 6. 4% and 3. 7%, respectively, factoring in higher gross margins. Consequently, we have increased our target price on the stock to Rs228 (from Rs220 earlier) and retained Buy rating on it. † * DABUR INDIA LTD..AnandRathi has come out with its report on consumer sector. The research firm recommend`s buy on ITC, Nestle India, Colgate, GSK Consumer, Emami, Pidilite, Agro Tech Foods, Bajaj Corp. , Lovable Lingerie, Zydus Wellness, and Tilaknagar Industries. Dabur, Marico as Hold, and have Sell on HUL, Asian Paints, Britannia, and VST Industries. Consumer companies are expected to report 17% revenue growth, led by higher volumes and prices. We expect stable EBITDA margins, despite rise in raw material costs (up 7-8%) and reduced weights. With tax rates likely to rise 50-150bps, we expect net profit to increase only 15% yoy.Revenues on the rise:  We expect sector revenues to grow 17%, led by volume and price. Offtake from the Canteen Stores Department, comprising 8% of sales, would be subdued. However, rupee depreciation of 10-12% will benefit companies with more than 15% in exports (Asian Paints, M arico, Dabur). * Bharti Airtel Top telecom carrier  Bharti Airtel  Ã‚  will bid in an upcoming auction of mobile phone airwaves, said a company source, who declined to be named as the matter is not public yet. The airwaves auction is the result of a Supreme Court order to revoke permits issued in a scandal-tainted sale in 2008.Bharti Airtel is not affected by that court order but it could be looking to buy additional spectrum. Friday is the deadline for companies to submit their application to participate in the auction, which is scheduled to start on November 12. ICICI BANK: SBI  Ã‚  ,  HDFC Bank  Ã‚  and  ICICI Bank  Ã‚  are the best bets, says Sudarshan Sukhani, s2analytics. com. Jaiprakash Associates  Ã‚  , they had set a target of about Rs 100, much lower when it was Rs 80-81. It is almost there. So now for people who hold positions there are the potential of more gains, but at Rs 95 I do not know if a trader can actually buy. The targets are just in front of us .Perhaps the stocks will consolidate. Perhaps it could go up and it may not. † He further added, â€Å"The risk-reward is no longer in favor of a short-term trader. For actually people who still hold them I think there is more upside. † â€Å"The Bank  Nifty  itself becomes a buying opportunity as we just entered the last half an hour of trading. The Nifty is clearly above the 5700 level. I had explained earlier that we do not need a level on the Bank Nifty. If the Nifty is trading above 5700 we can buy the Nifty as well as the Bank Nifty and we should, at least the aggressive traders should. The CNX-IT can be left alone.Which are the best stocks in the Bank Nifty to go along with? It is State Bank of India, HDFC Bank and ICICI Bank. OBSERVATION: ICICI Bank- Key Fundamentals Market Cap (Rs Cr. ): 118,375 EPS – TTM (Rs):64. 19 P/E Ratio (x):15. 91 Face Value (Rs):10. 00 Latest Div. (%):165. 00 Div. Yield (%):1. 60 Book Value / sh. (Rs) :523. 79 P/B Ratio (x): 1. 96 CONCLUSION: There are many online services which offer tools that enable us to choose investments plus those which offer relatively affordable trade margins. These options are basically for everyone though experienced traders could be well versed with them.To evaluate a good online trading service we need to look at the several factors. Issues to do with fees plus commissions for doing business can quickly rise up. Comprehensive services should be able to provide extended markets in addition to investment services including other retirement options. Since purchasing and selling at online stock trading is nerve racking, overall best services provide instant messaging as well as phone support. Bibliography: www. Moneycontrol. com www. Bseindia. com www. Nseindia. com www. Wikipedia. com ANNEXURE :- As per 1st NOV 2012:-