Straying to the roulette table I saw a man with a long black coat advanced towards me

Win! That's the last thing I did. It was amazing! At the age of 24 I had the best run of anyone. It was Sunday 1st of January, it started with a crossword. Going through the questions; one had stomped me, the question was â€Å"† 6 letters down and I was clueless. Then scavenging for words â€Å"danger† was the one that stood out the most, I looked at it strangely. Wildly, the door bell rang. The few seconds that I was walking towards the door I wondered who could be here at this time, 5:00am on this frosty winter's morning. Adrenalin rushed through my body. Slowly the door creaked open like one of those murder movie. Peering out of the door I saw with my first glance a man about the same age and size as me, then looking properly I gazed again no one was there. The giant of a door shut, turning I saw that a letter sluggish glided down towards the floor. The letter, it had nothing on it just at the back a wax, red, black eagle crescent holding the letter closed. Irresolute looking, my hand slowly shaking quavering went to open the letter excited and feeling miss lead by the figure at the door. My hands where on it, opening it when I was interrupted by the phone computer and mobile ringing at the same time. Picking up the phone no one was on the other end. The computer had an email â€Å"you are invited to an annual opening of the Royal Casino.† â€Å"You will be escorted there by your personal butler.† It didn't hit me until I got over the email that, the shady figure at the door might be my butler. There was a 3 second pause in the house I thought â€Å"why was I invited to this casino if I was a nobody?† Feeling dizzy, I when to the kitchen to get a drink of water, filed 3/4 of a wine glass when realising that the letter was still in my hand. As if I was drunk I opened the letter saying†¦ The next day I woke up at about 5:31 a few seconds later the bell rang again. It was him. Looking at me with his deadly amber eyes it felt like he was peering through my very soul using some sort of supernatural powers. The butler asked me what my name was. My mouth was open for a few seconds thinking what to say before I said â€Å"Carlos.† â€Å"Sorry I couldn't properly introduce myself yesterday in the morning† â€Å"my name is Earl† the voice was an extremely posh English accent; he probably came from a long line of high respected people. Suddenly a cold wind breeze shot down my spine making me wonder why I was going to this place I had hardly played in a casino before. â€Å"We will have to go in around 30 minutes† â€Å"we have a tight schedule.† Looking at my watch I started counting it was weird, my head didn't feel right. Escorted to the car it felt like having my own 15 seconds of fame. It took us 32 minutes and a half to get there; when we reached our destination we had 3 guards outside escorting all of us in. The place was armed to the teeth with players. â€Å"Play what ever you want.† Ever player had there unique style of winning. Thinking to myself I didn't know where should I start? Rubbing my hand quickly together, I started playing. Straying to the roulette table I saw a man with a long black coat advanced towards me. We both sat down to play, seemingly a ruthless game. Anticipating my every move he placed the money right on the jackpot. Undergoing this defeat I grow in strength raising the stakes declaring war on that man. Determine not to lose I placed a à ¯Ã‚ ¿Ã‚ ½50,000 bet on number 14 red. Lifting my hand of lead my eyes shone with light. Weirdly I became the centre of attraction putting à ¯Ã‚ ¿Ã‚ ½100,000 smugly in my pocket. Steering up he gave me an impregnable look, smiled and walked off towards a man in a shadow. While examining more closely standing there amber eyed butler Earl was leaning on the wall and strangely doing nothing. Slowly I proceeded towards him, when his amber eyes tried to corrupt my vision. I stood tremendously and strutted on towards him. Contemptuously, he wanted to say that â€Å"a gentleman was really interested in me and had invited me to go to the VIP section to play a great game of blackjack.† I started to move towards them gradually my heart started to beat faster, going at the speed of a fighter jet. Walking on I started thinking what was with me that people have began to take interest with. The black coated man brought out a 10.5 inch pistol and directed it straight at my head. Unanticipated he plummeted towards the floor. Turning him round I saw a small dart hole in his chest, this could only be made by a blowgun. Thinking to my self I wondered why I was stressing over he killer (saving my life). I went over to the VIP zone amazed that no-one was disturbed by this. There was a tall; man sitting down on an expensive leather seat hand stitched to match the feelings of that person, a brown eyed man called Rasior me asking if I wanted to join in on the game of blackjack. Under shock I wondered if this sort of fiasco would happen again with these sorts of people. The dealer deals the cards and feeling lucky I causally looked at the cards, the 10 of hearts and clubs. I then raised the money to a substantial amount. We all open our hands and I had 20, the rest had 21, the winning number. Gasping for breath I shook my head placed a bet and played again. My loss in confidence might have had a big effect on me. While dealing I hoped I would have better cards this time round. 3 of clubs and 8 of spades; I asked for one more, king of spades. Adding them, a small smirk shone upon my face. 21! Watching them turn over the cards, a wave of sweat was brought out on my face. 21, 21, and 21 weirdly that Rasior won again having the higher valued cards then the rest. Playing on it seamed that luck was not on my side, 3:00 am the match continued and my luck streak shone. Showing that there was hope still in there for me. The last 2 grand; (last chance) to win something worth wile. I knew that I had to get a blackjack or I would loose the game, the first card was a jack then while turning over the second card life seemed to stand still gradually it was all over. 6:00am time for my early morning run. Swiftly the phone rang when I was out shutting the door. I abscond towards the phone. I picked it up and started talking. Again there was no- one on the other end of there phone. Leaping through the window 5-8 black figures encompassed me. Looking at my self on the floor some red liquid substance pouring out of me†¦

Malaysian Airline System

From a small air service that began with a 5-seater twin engined Airspeed Consul in 1947, Malaysia Airlines has grown into an award-winning airline with a fleet of more than 100 aircraft, servicing more than 110 destinations across six continents. Today, Malaysian Airlines System Berhad is a corporation with a vision of global expansion. The airline's network will grow extensively in response to consumer demand for worldwide coverage. The airline's enhanced in-flight services, reliable ground support and excellent infrastructure will set new world standards. Company History: Malaysian Airlines System Berhad is the holding company for Malaysia's national airline carrier, one of Asia's fastest growing airlines. Through several other subsidiaries, the company manufactures aircraft parts, offers trucking and cargo transportation services, caters food, provides laundry and dry-cleaning services for airlines and other industrial institutions, and oversees a travel agency. Company Chairman Tajudin Ramli owns a significant share in Malaysian Airlines System (MAS), and the Malaysian government retains a strong voice in MAS affairs. 930s Origins The history of Malaysian Airlines dates back to 1937, when the Straits Steamship Co. of Singapore joined forces with two British companies–Ocean Steamship Co. and Imperial Airways–and won approval from Singapore's government to operate an airline in the region. Malayan Airways Limited was registered on October 21, 1937. Getting clearance and getting planes in the air, however, proved to be two different things for Malayan Airways Ltd. Operations did not begin until 1947, well after the Japanese occupation had come to an end, when a twin-engined Airspeed Consul lifted off from Subang International Airport in Kuala Lumpur, linking that city with Singapore, Ipoh, and Penang in the north of the country. In 1947 the fledgling airline added a 21-seater DC-3 to its fleet of three Airspeed Consuls. By the end of the year the airline was flying to Jakarta (then called Batavia), Palembang, Bangkok, Medan, and Saigon (later called Ho Chi Minh City). Jointly controlled by the intercontinental carriers BOAC and Qantas, Malayan Airways as for a time run by Keith Hamilton, who would later become head of Qantas. 1960s Independence Following Malaysia's political establishment in September 1963–the new country comprised the former states of Malaya and Singapore, and the one-time colonies of North Borneo, Sabah, and Sarawak–Malayan Airways became Malaysian Airways and was reorganized to focus on connecting the new country's disparate regions. Expansion brought more aircraft into the fleet after Borneo Airways was purchased and folded into Malaysian Airways in 1965. This brought four Dakota jets and two Scottish Aviation Twin Pioneer aircraft to the carrier's stable of aircraft. More organizational changes for the airline occurred in 1966, a year after Singapore seceded from Malaysia to become a sovereign state on its own. That year, the governments of Singapore and Malaysia jointly bought a controlling stake in the airline and renamed it Malaysia-Singapore Airlines Ltd. (MSA). Powerful Boeing jets then entered the fleet and enabled flights to reach a number of far-flung Asian destinations. However, differences between Kuala Lumpur and Singapore over the future direction of MSA prompted a split in 1972. Lee Kuan Yew, prime minister of Singapore, desired a truly national carrier for his country, the aim being to fly a small fleet of Boeing 707s displaying the yellow and blue colors of Singapore Airlines. Malaysia likewise chose to go its own way. In October 1972, Malaysian Airline Systems (MAS) was established. (The acronym MAS means gold in the Malaysian language. ) Each of its aircraft would henceforth sport a winged tiger logo, a stylized form of the traditional Kelantan â€Å"wau† or Malaysian kite. The split was crucial to the future fortunes of MAS. From 1972, the airline continued to see itself as a regional carrier, connecting a myriad of remote destinations in Peninsular Malaysia, including Sabah and Sarawak. Singapore Airlines, on the other hand, was committed from its inception to becoming an international success. By 1975, Singapore Airlines was flying to Seoul, Hong Kong, and Taipei. A year later, that airline was carrying passengers to Paris, Dubai, and New Zealand. Unlike Singapore, Malaysia looked to focus on exploiting its vast reserves of natural resources–petroleum and petroleum products, natural gas, timber products, and rubber. The country's government would choose much later than Singapore had to attempt competing with Western companies in manufacturing and high-tech markets. Thus, maintaining a successful regional airline carrier was judged the best strategy for Malaysia during the 1970s. The company slowly built up its regional services to Jakarta and Medan in Indonesia. Later the destinations of Bangkok, Hong Kong, Manila, and Singapore were added. â€Å"Malaysia felt that MAS was not serving the needs of Malaysians,† explained Abdullah Mat Zaid, director of corporate planning at MAS. Expanding as a regional airline was not without incident for MAS. In 1978, the company's low-wage policy met with a setback. Kuala Lumpur had set out rules limiting union activity at the national air carrier as a means of keeping wages and costs down, and a bitter and disruptive labor dispute occurred in 1978. Events surrounding a strike at the national airline prompted the government to intervene and cite MAS workers as being engaged in illegal activity. Several union officials were subsequently arrested. Growth in the 1980s–90s  An economic boom in Malaysia during the 1980s helped spur growth at Malaysian Airlines. By the end of the decade, MAS was flying to 47 overseas destinations. These included eight European cities: London, Zurich, Paris, Frankfurt, Istanbul, Vienna, Amsterdam, and Brussels. MAS also flew at this time to six Australian cities–Brisbane, Adelaide, Darwin, Perth, Melbourne, and Sydney&mdash well as to Auckland, New Zealand. Besides flights to such Asian hubs as Hong Kong, Tokyo, and Peking, MAS also connected with Los Angeles and Honolulu. By 1992, MAS had added scheduled flights to Athens, Madrid, and Rome, and plans were in motion to reach at least one destination in Eastern Europe. Moreover, a new service to South Africa and Brazil was scheduled for 1993. The airline would also look to reach one city on the eastern seaboard of the United States. MAS also chose during the early 1990s to expand by teaming up with other airlines to make additional destinations available for its customers. For example, Iran Air connected Kuala Lumpur with Tehran, and Royal Jordanian connected MAS flights with Amman. In addition, joint services to Chile and Argentina were discussed in late 1991. The impetus for this expansion came from Malaysia's burgeoning economy. Between 1986 and 1991, the country's export-oriented economy posted an average real growth of nine percent. Changes to Malaysia's foreign investment rules during the mid-1980s were designed to help speed a shift from an economy previously dependent on natural resources to a finely tuned industrialized economy. At the same time, a number of large Asian and Western corporations such as Sanyo, NEC, Toshiba, and Philips established branch plants in Malaysia. The extra traffic of company officials flying back and forth from their headquarters to Malaysia, and the transportation of their high-tech goods, spurred on ticket sales for the airline. The number of business passengers MAS accommodated was underscored by gross foreign investments in Malaysia that rose 30 percent in 1991 to M$10. 7 billion ($5 billion). The 1980s–90s Tourist Trade As the country's export trade thundered ahead in the late 1980s, so did the domestic passenger traffic in and out of Malaysia, and naturally tourism also provided a springboard to expansion for MAS. By the late 1980s Malaysia began to go after the prized Western tourist, a market already well exploited by neighboring Thailand and the Philippines. Nearly 5. 5 million travelers visited Malaysia in 1991. Although the country, and its airline, were hit by the effects of the Gulf War and global recessionary conditions, tourism contributed M$5 billion–or $2. 4 billion&mdasho the country's trade balance in 1991. The bulk of these tourists came from neighboring Brunei, Indonesia, the Philippines, Singapore, and Thailand. Kuala Lumpur's plans to build a number of luxury golf courses in the country were expected to help secure growing numbers of Japanese tourists. Getting into the package tour business also helped MAS encourage increased passenger traffic. Malaysia Airlines Golden Holiday packages and Malaysia Stopover packages were established in 1984. These encouraged European and Australian travelers in transit between the two continents to take a rest break in Malaysia before carrying on to their final destination. To further stimulate tourism, a joint campaign was run by the Malaysian government and MAS to declare 1990 Visit Malaysia Year. During the year, some 7. 4 million tourists flew into and out of the country, as compared with the 4. 8 million tourists who visited Malaysia in the previous year. Another source of new traffic for the airline was the growing number of foreign students attending educational institutions in Malaysia. In September 1989 the International School of Kuala Lumpur registered 700 students; a year later, the school had doubled its enrollment. By the same token, young Malaysians were studying in Europe and North America. In Canada, where many Malaysian students attended universities, it was felt in early 1992 that this new traffic source might warrant regular service between the two countries. Canada's own national airline, Air Canada, which was suffering from economic recession and increasing global competition, was slow to grant Malaysian Airlines landing rights. The Canadian government felt that allowing MAS to land in Vancouver would encroach on territory commanded by Canadian Airlines International Ltd. , while Toronto International Airport was considered the preserve of Air Canada. Malaysia's case at the time was not helped by Ottawa having a year earlier announced the cancellation of Singapore Airline's landing rights in Toronto. Even so, Kuala Lumpur officials reasoned that Canada was out-of-step in trying to protect its national airline carriers. The global airline industry as a whole was going the opposite way, towards increased deregulation and competitiveness. Malaysia was prepared to wait for Canada to accept its growing economic might and grant reciprocal landing rights. Intercontinental traffic for the airline was encouraged by the purchase of Boeing 747 wide-body jets. By 1991, the airline had four of them, and three more were added a year later with an average of two more due for delivery each year until 1995. In 1992, a tightening labor supply in Malaysia, in part the result of its increasingly prosperous economy, was cited by international corporations as the prime obstacle standing in the way of future expansion plans. Manpower shortages were especially acute at the middle management and technical levels. All of these circumstances would impact on MAS's passenger and cargo traffic figures as the country's economy moved from the farm to the factory and beyond. Amid this backdrop, the Malaysian government in 1992 forecast that passenger traffic on the country's combined airways–international and regional–would grow by ten percent annually in the five years before 1997. International freight volume in the same period was expected to rise by 13 percent annually. Officials in Kuala Lumpur announced in 1992 that they had plans to build a new international airport in Sapang, adding that all other airports in the country were expected to cope with the increased passenger demand of the 1990s without the need for expansion. Government forecasts in 1992 pointed to 9. 5 million passengers to be carried by MAS that year, a figure expected to jump to approximately 15 million by 1995. Cargo was also identified as an expanding source of revenue for the airline in the 1990s. In recognition of this potential, MAS in 1992 introduced MASkargo in order to begin providing a full cargo service to the United States and Europe. A DC-10-30 jet was fitted to carry up to 60 tons of cargo per flight. Further plans were announced to purchase an additional Boeing 747-400 freighter to carry 45 tons of extra cargo per flight. In 1992 MASkargo also opened a fully automated cargo handling center in Penang. The new facility complemented the expanded MAS Cargo Center at Subang Airport, which provided semi-automated and computerized facilities including elevating transfer vehicles and electronic scissor lifts fitted with computerized scales. Expansion at the cargo center brought MASkargo's total warehouse storage space to 150,000 square meters. The ambitious expansion plans taxed the carrier's profits, which were nearly halved, from M$206 to M$120, between 1991 and 1992. Turnover increased 23 percent in 1992, however, reaching M$3. billion. Correspondingly, employment at MAS rose from 17,575 workers in 1992 to 20,370 in 1993. Demand for flight crews was so great that the carrier contracted for 35 percent of these positions with overseas personnel, mostly Australian. Fifteen hundred of the employees worked in the airline's unique flight kitchen, which served 22 airlines. All 17,000 meals a day were hallal, that is, observing Muslim dietary restrictions that prohibited pork. During this time, MAS hired Star Wars producer George Lucas's special effects unit to create a stunning sci-fi television commercial. The spot, which aired around the world, was commissioned to present MAS as a modern, world-class airline and featured a huge kite-shaped space station. The cost was estimated at between $2 and $4 million dollars. In 1993, MAS bought a 24. 9 percent interest in U. S. charter operator World Airways. The company also leased five of its MD-11 aircraft. Operations personnel, in high demand at MAS, were also made available. 1994: Ramli Buys a Stake in the Airline In 1994 Malaysian entrepreneur Tajudin Ramli bought a 32 percent controlling interest for M$2 billion ($745 million) worth of stock. The government retained an 11 percent interest. Tajudin, who had earlier put together a mini-aviation empire in preparation of competing with MAS, was saddled with an overlarge fleet and diminishing profits. Although sales rose to $M4. 1 billion ($1. 6 billion) in the fiscal year ending March 3, 1994, profits fell from M$145. 4 million ($56. 4 million) to M$7. 7 million ($2. 9 million). The carrier was still receiving large shipments of new aircraft, including Boeing 747s, and sales of its used aircraft were slow. Some of MAS's new A330 aircraft were delivered late, resulting in penalty payments from Airbus. ) Tajudin immediately set out to trim the fat. He introduced a more businesslike attitude and required better reporting from the company's managers. Aircraft utilization was increased. The carrier signed code-share agreements on transpacific routes and promoted its Kuala-Lumpur-Los Angeles route to attract more business passengers. Virgin Atlantic Airways teamed with MAS in 1995 to operate joint London-Kuala Lumpur flights. The service proved convenient for Virgin's Australia-bound passengers. Planes stayed just as full after the number of flights was increased from eight to 14 a week, although the two carriers faced very formidable competition from the British Airways/Qantas alliance, which operated the only single-plane service between London and Australia. MAS recorded its highest ever pretax profit in 1996–97 of M$349. 4 million ($120 million). The company continued to buy new planes and relocated to Kuala Lumpur's new Sepang International Airport, a move expected to further enhance its reputation. However, the new airport's opening was plagued with lost baggage, computer malfunctions, and other annoyances. Depreciating Malaysian currency brought MAS debt up to M$12 billion by 1998. Debt servicing helped MAS lose M$260 million ($62 million) in 1997–98. In response, the carrier deferred new aircraft purchases, sold old planes, and slashed underperforming routes. A new restructuring plan put forth by Tajudin, whose hands were tied by the government when it came to cutting jobs, was rejected on the grounds it would rescue Tajudin at the expense of minority shareholders. Foreign airlines with an eye towards global expansion (such as Thai Airways and British Airways) seemed interested in investing in the troubled carrier, however.

Compromise Essay

Prior to the 1820’s, the people of the United States had been struggling to find a way to solve their sectional tensions brought on by slavery in the south. The south had always had an economy based on agriculture that could not strive without their uses of slavery. They did not plan on ending slavery anytime soon, especially since it was really all they had to support themselves. They were against establishing an industrial based economy like the north had began to do in the 1820-1830’s.The real cause of the sectional tensions between the North and the South during the 1820’s-1860’s was not slavery itself, but how it affected each society so differently, and it was very challenging to find a compromise to suit both sides. Taking a step back, the political compromises that were created during 1820-1861 were not effective towards reducing sectional tensions across the nation. Starting in 1819, there was an equal balance of slave and free states in the Unite d States. Until Missouri wanted to be admitted into the Union as a slave state, leaving the slave states at 12 and the free states at 11.If only Missouri was admitted into the United States, it would move slavery farther more into the Northern section of the United States, which is what Northern reformers were afraid of. The debate on adding Missouri as a slave state continued to inspire violent petitions in the North. Until later that year, Henry Clay submitted the Missouri compromise, which stated that Missouri would be added as a slave state along with Maine as a free state, to keep the ratio of free and slave states equal.The Northern boundary of slavery was set at 36?30? and this compromise would keep the argument over slavery settled for a few years. One day in the Supreme Court, a case was brought in called the Dred Scott v. Stanford. Dred Scott and his master had lived in the Wisconsin free territory of the United states, which is why Dred Scott was trying to gain his freedo m. The Supreme Court began with the ruling that Americans of African descent, whether free or slave, were not American citizens and could not sue in federal court. The Court also ruled that Congress lacked power to ban slavery in the U.S. territories. And lastly, the Court declared that the rights of slave-owners were constitutionally protected by the Fifth Amendment because slaves were bought by owners, labeling them as property. In the North, antislavery supporters were outraged by the outcome of the Dred Scott case, strengthening the newly submitted Republican Party and helping ignite the violence between slave-owners and abolitionists on the frontier. The Missouri Compromise was declared unconstitutional under the laws made in the Dred Scott v. Stanford Supreme Court Case in 1857.The case gave Northerners a reason to fear Southern slave power. It left the nation indecisive on the actions it should take to replenish the nation of what it needs to settle the sectional tensions in which were causing our country to fall apart. With the increased sectional tensions left untouched after the Missouri Compromise, California wants in as a free state. Again, Henry Clay suggests an idea to keep from the occurrence of another uprising like the one after the Missouri Compromise. The Compromise of 1850 had something to offer for the North and the South.The Compromise would allow California to become a free state, as a benefit for the North. It would also ban the selling of slaves in Washington D. C. , another benefit to the North. To make the south happy, it strengthened fugitive slave laws and settled the organizational details of the territories gained in the war with Mexico. New Mexico and Utah would be decided by popular sovereignty. The Fugitive Slave law became an issue in the North because they did not want to support any form of slavery no matter what. The nation did not want to settle.Each side thought that the advantages for the opposing side in the Compromise of 1850 were better than their own advantages. They were not willing to compromise. Northerners felt that this Compromise should strictly be about the territories, not about slave laws, and that is what led to the failure of the Compromise of 1850. Neither side was willing to settle for what the compromise had to offer. It sparked more sectional tensions across the nation than ever before. Starting with a new debate, the next step that the United States needed to take was to choose a way newly added states would be decided as slave or free.When Kansas and Nebraska asked to join as states, the decision was to allow the two states to decide for themselves whether they wanted to allow slavery or not, although these territories were above the 36?30? line. By the early 1850s, settlers wanted to move into the free area which is now known as Nebraska. The southern states' representatives in Congress were in no hurry to permit a Nebraska territory because the land lay north of the 36 °30 †² parallel, which is where slavery had been outlawed by the Missouri Compromise of 1820.The Kansas- Nebraska Act was possibly the most important event leading up to the civil war and was proposed by Stephan Douglas. He proposed that Nebraska should be made into a territory and to win support from the south he proposed the issue of another southern state, which would be Kansas. He would be able to build a transcontinental railroad that would be able to go through Chicago. The Kansas- Nebraska Act allowed each territory to decide the issue of slavery on the basis of popular sovereignty. Kansas with slavery would go against the Missouri Compromise, which had sewed the Union together for more than 30 years.The Missouri compromise was eventually repealed by the Kansas- Nebraska Act and even though the opposition was of the majority, the bill passed in May of 1854. Territory north of the 36 °30†² line was now open to popular sovereignty, which set off the North. Also, every c ompromise has an effect politically, especially the Kansas- Nebraska Act. This act split the Whig party since every Northern Whig opposed the bill and almost every southern Whig voted for it. With the issue of slaver on everybody mind, the two new separate parties could never agree.The southern Whigs had become the Democratic Party and the Northern Whigs became the Republican Party, with Abraham Lincoln as a big influence. The Kansas- Nebraska Act had a very negative effect on the sectional tensions for it split the Whig party into the northern Republicans and the Southern Democrats. It also made the people of the north and south angrier than ever before. This would be the last compromise that they didn’t completely retaliate against each other during, due to their sectional tensions. Even after all of their attempts of compromise, none of them gave each section enough for them to settle with.It only caused the nation to grow further and further apart and it only increased th eir sectional tensions to a point where something needed to be done before the union fell apart completely and a Civil War would begin. Unfortunately, Lincoln decided that he could not risk this Union crumbling, and was forced to go to war with what are now known as the Confederates. The political compromises did anything but reduce the sectional tensions during the years of 1820-1861 because in the end, they caused our nation to disband, and a Civil War to begin.

Nike Inc

Kim Ford, the portfolio manager, outstanding performance of the fund. In order to evaluate Nikkei as a viable choice, Kim has to calculate the cost of capital for the company and make sure assumptions are a direct function from the estimates. The cost of capital calculation or WAC helps to see if an investment is worthwhile to undertake. However, the assumptions made to calculate WAC, in this case, are the underlying problem because some of the assumptions made are incorrect. Analysis Nikkei held a meeting to discuss company performance at 2011 end of fiscal year.In the meeting, management discussed their strategy to improve revenues and net income by developing more athletic shoe products in the misplaced segment of selling shoes at $70-$90 a pair. The company also planned to increase sales for its apparel line, which it had performed really well lately. Management was also concern in the drop of market share from 48%, in 1997, to 42% in 2000. Nikkei was also committed to make an ef fort in controlling company expenses more diligently. Yet, Nine's investment value was not clear to Kim Ford. Analysts' reports had mixed recommendations about the value of the company.Some analysts were recommending buying the stock and some others were recommending holding the stock. Different recommendations were based on the company's declining performance and the proposed strategies to improve the same. Weakening revenues and net income since 1997 are displayed in their firm's consolidated statement showing an improvement in the later years as well. Therefore, Ford had to run her own calculations. Kim Ford performed a discounted cash flow forecast that resulted in a 12% discount rate with an overvalued estimate for Nikkei at the current share price.Ford also performed a quick sensitivity analysis that showed Nikkei was undervalued. Ford figured the best way to make a choice about Nikkei is by calculating the cost of capital cause Nikkei is financed through equity and debt. Ford asked her assistant, Johanna Cohen, to estimate Nine's cost of capital. WAC is the cost of capital for a firm as a whole and can be interpreted as the required return on the overall firm (Ross, Westfield & Jordan, 2010). Some of the assumptions made by Johanna Cohen in calculating the cost of capital are incorrect.As stated before, the correct assumptions are necessary in order to make the right choice. Johanna used the book values for equity and debt. While book values are acceptable values for debt at times, book values for equity are not. Book values may be important from an accounting point of view but market values are forward looking. Therefore, Johanna should have calculated the equity market value. The debt market value calculated by Johanna is also slightly incorrect. Johanna did not include Redeemable Preferred Stock in her calculation.Consequently, Cone's To figure out the cost of equity Johanna used CAMP, a widely used method. CAMP tells what to expect in regards to fut ure returns on a share of stock. Johanna did right by using this method; however, her calculations include an average for six years on Betas and it should be an average for five years, since the 6th year is not finished. In addition, the 5. 74% rate on 20- year treasury bonds is sufficient to use as the risk-free rate. The geometric mean for current equity risk premiums is more representative to use.Under the cost of debt calculation, Johanna missed a simpler way to calculate the cost of debt. â€Å"The cost of debt is simply the interest rate the firm must pay on new borrowing. For example, if the firm already has bonds outstanding, then the yield to maturity on those bonds is the market required rate on the firm's debt† (Ross et al, 2010). Johanna could have simply calculated the YET on Nine's bonds. Since some of Cone's assumptions are incorrect, the cost of capital calculation does not reflect an accurate result. Nike Inc Kim Ford, the portfolio manager, outstanding performance of the fund. In order to evaluate Nikkei as a viable choice, Kim has to calculate the cost of capital for the company and make sure assumptions are a direct function from the estimates. The cost of capital calculation or WAC helps to see if an investment is worthwhile to undertake. However, the assumptions made to calculate WAC, in this case, are the underlying problem because some of the assumptions made are incorrect. Analysis Nikkei held a meeting to discuss company performance at 2011 end of fiscal year.In the meeting, management discussed their strategy to improve revenues and net income by developing more athletic shoe products in the misplaced segment of selling shoes at $70-$90 a pair. The company also planned to increase sales for its apparel line, which it had performed really well lately. Management was also concern in the drop of market share from 48%, in 1997, to 42% in 2000. Nikkei was also committed to make an ef fort in controlling company expenses more diligently. Yet, Nine's investment value was not clear to Kim Ford. Analysts' reports had mixed recommendations about the value of the company.Some analysts were recommending buying the stock and some others were recommending holding the stock. Different recommendations were based on the company's declining performance and the proposed strategies to improve the same. Weakening revenues and net income since 1997 are displayed in their firm's consolidated statement showing an improvement in the later years as well. Therefore, Ford had to run her own calculations. Kim Ford performed a discounted cash flow forecast that resulted in a 12% discount rate with an overvalued estimate for Nikkei at the current share price.Ford also performed a quick sensitivity analysis that showed Nikkei was undervalued. Ford figured the best way to make a choice about Nikkei is by calculating the cost of capital cause Nikkei is financed through equity and debt. Ford asked her assistant, Johanna Cohen, to estimate Nine's cost of capital. WAC is the cost of capital for a firm as a whole and can be interpreted as the required return on the overall firm (Ross, Westfield & Jordan, 2010). Some of the assumptions made by Johanna Cohen in calculating the cost of capital are incorrect.As stated before, the correct assumptions are necessary in order to make the right choice. Johanna used the book values for equity and debt. While book values are acceptable values for debt at times, book values for equity are not. Book values may be important from an accounting point of view but market values are forward looking. Therefore, Johanna should have calculated the equity market value. The debt market value calculated by Johanna is also slightly incorrect. Johanna did not include Redeemable Preferred Stock in her calculation.Consequently, Cone's To figure out the cost of equity Johanna used CAMP, a widely used method. CAMP tells what to expect in regards to fut ure returns on a share of stock. Johanna did right by using this method; however, her calculations include an average for six years on Betas and it should be an average for five years, since the 6th year is not finished. In addition, the 5. 74% rate on 20- year treasury bonds is sufficient to use as the risk-free rate. The geometric mean for current equity risk premiums is more representative to use.Under the cost of debt calculation, Johanna missed a simpler way to calculate the cost of debt. â€Å"The cost of debt is simply the interest rate the firm must pay on new borrowing. For example, if the firm already has bonds outstanding, then the yield to maturity on those bonds is the market required rate on the firm's debt† (Ross et al, 2010). Johanna could have simply calculated the YET on Nine's bonds. Since some of Cone's assumptions are incorrect, the cost of capital calculation does not reflect an accurate result.

Assignment †OUMH1203 English for Written Communication- SEP 13 Essay

ASSIGNMENT SUBMISSION AND ASSESSMENT ______________________________________________________________________________ OUMH1203 ENGLISH FOR WRITTEN COMMUNICATION SEPTEMBER 2013 ______________________________________________________________________________ INSTRUCTIONS TO STUDENTS 1.This assignment contains TWO (2) questions that is set in the language of the printed module for the course. 2. Your assignment should be typed using 12 point Times New Roman font and 1.5 line spacing. 3.Your assignment should be between 500 to 800 words excluding references. The number of words should be shown at the end of your assignment. Do not copy the assignment question and instructions to your answer. 4. You must submit your assignment BY MAIL to fes.assignments@villacollege.edu.mv by 18:00 hrs. You are advised to keep a copy of your submitted assignment for personal reference. 5.You can submit your assignment ONCE only in a SINGLE file. 6. Your first assignment must be submitted on 27th October and the second assignment on 10th November. Submission after 1800 hrs on this date will be accepted as LATE SUBMISSION. 10% of your assignment marks will be deducted for each delayed day. 7. You should not copy another person’s assignment. You should also not plagiarise another person’s work as your own. EVALUATION This assignment accounts for 50 % of the marks for the course mentioned and shall be assessed based on the Rubrics or Answer Scheme. You would be informed of the assignment mark before the Final Semester Examination commences. PLAGIARISM : MARKS DEDUCTION Warning: The submitted assignment will undergo a similarity check. If plagiarism is detected, marks would be deducted as follows: Assignments with 10 – 30 % overlap with others: 20% deduction from the total marks scored. Assignments with more than 30% overlap with others: Zero mark would be given. ASSIGNMENT QUESTION This assignment consists of TWO parts. PART A: IN CLASS ASSESSMENT_ (INDIVIDUAL TASK-30%) From the list of topics below you need to choose any THREE topics and this must be done in class during your tutorial sessions. Each of these essays carries 10% of the total marks. Each essay should be approximately 500-800 words long. a) In many countries, old people are sent to live in old-age homes where there are nurses to look after them. Sometimes governments pay for this care. Who should be responsible for our old people? Use specific reasons and details to explain your choice. b) The Expectancy Theory of Motivation by Victor H. Vroom suggests that an individual’s perceived view of an outcome will determine the level of motivation. How can this theory be applied in the Maldivian classrooms to improve the performance of secondary students? c) Though not out of choice, the current situation requires students to join evening classes to complete their tertiary education at colleges and universities. What are the advantages and disadvantages of attending classes in the evening? d) Co-education is the current system followed in Maldivian schools. While some think students study better in single-sex schools, others believe they need to be mixed for various reasons. In your opinion, what is the best system for the Maldivian schools? Justify your opinion with specific reasons and details. PART B: GROUP TASK (20%) You need to complete these TWO tasks in groups of 3 or 4. Work in groups of three or four people. Choose TWO of the topics given below. Write a research essay on each of your chosen topic. Your research essay carries 10% of the total marks each. Each essay must be between 500 to 800 words long. . a) International research has found numerous benefits which apprenticeship brings for those apprentices who complete their programme. How important is a national level apprenticeship programme for the Maldivians? Write a report on this including recommendations to improve the current situation. b) The customs and traditions of a country help to maintain its uniqueness. It is believed that many customs and traditions of the Maldivians are dying out due to globalisation. Write a report based on the impact of globalisation on the Maldivian customs and traditions. c) The number of motor vehicles imported to the Maldives is increasing at an alarming rate. Write a report based on the potential transportation problems  of Male’ in 15 years’ time, and provide suggestions to overcome them. d) Many believe heavy exposure to TV carnage during childhood leads to imitation of what they see on TV, acceptance of violence as normal, desensitization to real people’s suffering and arousal by images on television, triggering violent responses. Write a report on how critical this issue is in the Maldives? Include recommendations to overcome this problem in the future. Thank you and Good luck! ____________________________________________________________________________ END OF PAGE

Assignment is to read the 22 page IPCC AR4 summary for policymakers Essay

Assignment is to read the 22 page IPCC AR4 summary for policymakers (SPM) (Introduction plus 5 sections) and write a concise summary of it - Essay Example shift in animal and plant ranges together with the earlier timing of various spring events has been linked to warming in the terrestrial ecosystems while changes in ice, frozen ground and snow have resulted in a general increase in both the total number and size of glacial lakes (Ipcc, 2007). It has been shown that the energy balance of the world’s climate system has been altered by changes in the atmospheric concentration of aerosols and various green house gases, solar radiation and total land cover. During the period ranging between 1970 and 2004, Carbon dioxide emissions have been shown to have grown by about 80%. The atmospheric concentration methane and carbon dioxide have exceeded the pre industrial levels recorded from ice cores over the last 650,000 years. This has mainly been attributed to the use of various agricultural products and fossil fuels (Ipcc, 2007). If the Emission of GHG continues at the current rate, this will potentially cause changes in the planet’s global climate system to be larger in the 21st century than those previously observed in the 20th century. Warming is expected to reduce the ocean and terrestrial uptake of CO2 resulting in an increase in the ocean’s acidity with an expected average decrease of its PH by about 0.1 units (Ipcc, 2007). The Greenland ice sheet is expected to continue contracting, a factor that is expected to continue playing a vital contribution to the increasing rise in sea levels after 2100, with various models suggesting the eventual virtual complete elimination of the ice sheet after a millennia. There are several adaptation and mitigation options available touching on various aspects. These include expanding water storage, harvesting and conservation techniques, the adjustment of agricultural product varieties and planting dates, reduction of the world’s dependency on a mostly single source of energy and opting for green energy, creation of storm surge barriers and sea walls to help create a

Unconscionable contract Essay Example | Topics and Well Written Essays - 250 words - 1

Unconscionable contract - Essay Example The rationale behind the doctrine of unconscionability is to circumvent the enforcement of unfair contracts. In the case at bar, Amy, who was a college student, was led to believe by the salesman that the home theater system, Alpo Model XL2, costs $3,000, when in truth and in fact, the actual standard cost of the theater system is only $1,000. The price given by the salesman was two times higher than the prevailing standard cash market price of the item bought by the buyer. Hence, the â€Å"rent-to-own† contract signed by Amy is considered unconscionable. Under the law, Amy has the remedy to demand the return of the excess $2,000 since the contract price is unconscionable, excessive and unfair on her part. Here, the salesman acted in bad faith at the time of the signing of the â€Å"rent-to-own† contract. Therefore, in order to cure the damage caused to the buyer, Amy can go to court and have the contract declared as unconscionable and oppressive, since there was a violation on the part of the salesman to fulfill his obligation in good faith in accordance with their contract. She can legally demand the refund of excess payment of $2,000. â€Å"It is the judge who has the power to declare whether or not a contract is unconscionable, and not the jury† (Emanuel,