A critical evaluation of the role of Friends of the Earth in the Essay

A critical evaluation of the role of Friends of the Earth in the development of policy responses to climate change in the United Kingdom - Essay Example Thus, one can easily relate Climate Change to the Global Financial Crisis, as the latter seems to be the deterring point behind the ignorance on the former. However, this isn’t the point where it can be established that Climate Change is a lost cause. Instead, a few examples can still be narrated where government involvement led toward policy responses, and that too legally binding in context to the state legislation. The scholarship on climate change indicates that government involvement with the issue is very critical to resolving the crisis at hand. Also, the efforts that are already being done must be rocketed by taking the crucial stakeholders into confidence. In other words, theoretical paradigms in climate change studies indicate that the social interest groups or volunteer organizations can play a positive role in bringing the issue on agenda, and once the issue transforms into a political one legislations are bound to be designed. However, certain steps need to be fol lowed which includes; developing or identifying non-environmental leadership, initiating action in the community, changing lifestyles and lastly transforming it into a global effort. Policy responses on the issue of climate change will only result after the intermingling of three actors; normative rationale on part of government, citizen`s will to take action and accurate consultation designs by organizations/individuals having expertise. To prove the point, a critical analysis of the organization functioning actively in the UK, the Friends of the Earth can be quite insightful. The organization reached a huge breakthrough in 2008, when after many concerted efforts; they were able to incorporate the Climate Change Act of 2008 in the UK, with binding legislations aiming at controlling the environmental damages via limiting carbon emitting gases. The organization i.e. Friends of the Earth initiated their campaign by publishing

The History Of Cleopatra VII

The History Of Cleopatra VII Cleopatra VII was the last person to rule Egypt as an Egyptian pharaoh. After her death Egypt became a Roman province. She was a member of the Ptolemaic dynasty (a royal family which ruled Egypt during the Hellinistic Period-323 BC to 146 BC) of Ancient Egypt. She is therefore considered to be a descendant of one of Alexander the Greats generals who had seized control over Egypt after Alexanders death. Cleopatra learned Egyptian unlike other Ptolemies who spoke Greece and refused Egyptian and represented herself as the reincarnation of an Egyptian Goddess. Cleopatra VII ruled originally with her father Ptolemy XII Auletes (commonly name as Auletes and who ruled Egypt from 80 to 58 BC) and later with her brothers, Ptolemy XIII and Ptolemy XIV. Later she became a sole ruler. As pharaoh, she kept good relations with Julius Caesar (Roman General who played a critical role in the transformation from Roman Republic to Roman Empire) that solidified her grip on the throne. After Caesars assassination in 44 BC, she aligned with Mark Antony in opposition to Caesars legal heir and she bore the twins Cleopatra Selene II and Alexander Helios, and another son, Ptolemy Philadelphus. Mark Antony was defeated by Octavian (the future emperor Augustus) and hence Egypt became the Roman province of Aegyptus. Though Cleopatra was an Egyptian pharaoh but she basically belonged to the Ptolemaic dynasty which was Hellenistic. Cleopatras mother language was Greek but still was the first ruler of the dynasty to learn Egyptian. She also adopted Egyptian beliefs and deities. Her patron deity was Isis (a Goddess in Ancient Egyptian religious beliefs) and thus was considered the re-incarnation and embodiment of the goddess. Her death marked the end of the Ptolemaic Kingdom and Hellenistic period and the beginning of the Roman era in the eastern Mediterranean. The above picture displays the bust of Cleopatra VII who is depicted as a great beauty and her legacy still survives in various works of art and dramas. William Shakespeares Antony and Cleopatra, Jules Massenets opera, Clà ©opà ¢tre are some examples of dramatizations inspired by Cleopatras life. REIGN 51 BC TO 12 August 30 BC SUCCESSOR None (Egypt was annexed by Rome) SPOUSE Ptolemy XIII Theos Philopator Ptolemy XIV Julius Caesar (not legally wed) Mark Antony FATHER Ptolemy XII Auletes MOTHER Cleopatra V of Egypt BORN 69 BC DIED 12th August 30 BC (aged 39) BURIAL Burial was done in Alexandria, Egypt Cleopatra in the Roman Civil War In the Roman civil war between the Caesarean party which was led by Mark Antony and Octavian and party led by Marcus Junius Brutus and Gaius Cassius Longinus who assassinated Julius Caesar. Cleopatra sided with the Caesarean party because of her past. Brutus and Cassius together and sailed to the East of the Roman Empire and conquered large areas and established their military bases. Now Cassius wanted to invade Egypt to seize the treasures of that country and to take the revenge from the queen as she refused his request to send him supplies punish the queen for her refusal of Cassius request to send him supplies and her support for Dolabella (a Roman General). At that time in Egypt there was famine and an epidemic which became an important reason why Cassius thought that Egypt could easily be conquered. But still he could not execute the invasion of Egypt because at the end of 43 BC Brutus called him back to Smyrna (an ancient city located at a central and strategic point on the Aegean coast of Anatolia now located in Turkey). Cassius tried to blockade Cleopatras way to the Caesareans. Nevertheless Cleopatra sailed with her military from Alexandria to the west along the Libyan coast to join the Caesarean leaders but she was forced to return to Egypt because her ships were damaged by a violent storm and she became ill. Relationship with Julius Caesar Cleopatra became Caesars mistress, and nine months after their first meeting, in 47 BC, Cleopatra gave birth to their son, Ptolemy Caesar, nicknamed Caesorian , which means little Caesar. At this point Caesar cancelled his plans to annex Egypt, instead backing Cleopatras claim to the throne. After a war lasting six months between the party of Ptolemy XIII and the Roman army of Caesar, Ptolemy XIII was drowned in the Nile (longest river of the world situated in Egypt) and Caesar restored Cleopatra to her throne and assigned her younger brother Ptolemy IV as her new co-rule. Although Cleopatra was 21 years old when they met and Caesar was 52, they became lovers during Caesars stay in Egypt between 48 BC and 47 BC. Cleopatra claimed Caesar was the father of her son and wanted his son to be the heir of Julius Caesar but instead of making his son caesorian, his heir, he chose his grandnephew Octavian. But Caesar even erected a golden statue of Cleopatra represented as Isis in the temple of Venus Genetrix (the mythical ancestress of Caesars family), which was situated at the Forum Julium (a forum built by Julius Caesar in Rome). Caesar was assassinated on 15 March, 44 BC. At that time Cleopatra was in Rome along with her outrages. After Caesars assassination Cleopatra returned to Egypt with her relatives. After the death of Ptolemy XIV who was allegedly poisoned by his elder sister, Cleopatra made her son Caesorian, her successor and gave her an epithet (an epithet as a descriptive word or phrase given to someone) Theos Philopator Philometor which means Father and mother loving God. Cleopatra and Mark Antony Coin of Antony and Cleopatra In 41 BC, Mark Antony, one of the triumvirs (name historians give to the official political alliance of Gaius Julius Caesar Octavians, later known as Augustus) who ruled Rome after the assassination of Julius Caesar. Dellius had to summon Cleopatra to Tarsus (a historical city in south eastern Turkey) to meet there Antony and answer questions about her loyalty. During the Roman civil war she allegedly paid much money to Cassius due to which Antony lost his trust on Dellius. Actually it seemed that in reality Antony wanted Cleopatras promise to support his war against the Parthians (citizens of Parthia a region of North eastern Iran). Cleopatra had Antony order the death of her sister Arsinoe to safeguard herself and her son, Caesarion. Arsinoe at that time was living at the temples of Artemis in Ephesus (Artemis is one of the religious Greek deities which is situated in Ephesus which is an ancient Greek city). On 25 December 40 BC, Cleopatra gave birth to twins fathered by Antony, Alexander Helios and Cleopatra Selene II. Four years later, Antony visited Alexandria again on route to make war with the Parthians. Donations of Alexandria was a religious-political statement by Cleopatra VII and Mark Antony in which they distributed lands of Rome and Parthia amongst Cleopatras children and granted them many titles especially for Caesarian who was the son of Julius Caesar. Donations of Alexandria was announced in late 34 BC, followed by Antonys conquest of Armenia (a client state of roman and Persian Empires stretching from Caspian to Mediterranean sea), Cleopatra and Caesarian were crowned co-rulers of Egypt and Cyprus. Cleopatra Selene II was crowned ruler of Cyrenaica and Libya and Ptolemy Philadelphus was crowned ruler of Phoenicia, Syria, and Cilicia. Donations of Alexandria were also a main reason for The Final war of the Roman Republic. Cleopatra was also given the title of Queen of Kings by Antonio. Her enemies in Rome feared that Cleopatra was planning a war of revenge that was between the whole of East against the Rome and establish herself as empress of the world at Rome and inaugurate a new universal kingdom. Caesarian was given co-regency with Cleopatra and was also given many titles such as god, son of god and king of kings. Egyptians thought Cleopatra to be a reincarnation of goddess Isis, as she called herself (NEA Isis). Relations between Antony and Octavian finally broke down in 33 BC, and Octavian declared a war against Egypt. In 31 BC Antonys forces faced the Romans in a naval action off the coast of Actium. Cleopatra was present with an army of her own. But Octavians invaded Egypt in the Battle of Actium and thus Antony and Cleopatra lost this war and thus the Roman Empire took over the Egypt. As he approached Alexandria, Antonys armies deserted to Octavian on August 1, 30 BC. DEATH This picture above shows the death of Cleopatra which was drawn by Guido Cagnacci in 1658. There have been many stories about the death of Cleopatra VII such as according to the ancient sources; particularly the Roman ones think that Cleopatra killed herself by inducing an Egyptian cobra to bite her. The oldest source is Strabo who was a Greek historian, geographer and a philosopher says that there are two stories: That she applied a toxic ointment OR That she was bitten by an asp. Other authors have questioned these historical accounts, stating that it is possible that Augustus had her killed. In 2010, the German historian Christophe Schaefer challenged all other theories, declaring that the queen had actually been poisoned and died from drinking a mixture of poisons. After studying historic texts and consulting with toxicologists, the historian concluded that the asp could not have caused a slow and pain free death, since the asp (Egyptian cobra) venom paralyses parts of the body, starting with the eyes, before causing death. Schaefer and his toxicologist Dietrich Mebs decided Cleopatra used a mixture of hemlock, wolfsbane and opium. Plutarch, writing about 130 years after the event has also mentioned the asp to be the major reason for Cleopatras death. He reports that Octavian succeeded in capturing Cleopatra in her Mausoleum after the death of Antony. He ordered his freedman Epaphroditus to guard her to prevent her from committing suicide because he allegedly wanted to present her in his triumph. But Cleopatra still was able to suicide by provoking the asp (cobra) to bite her on her arm. Suetonius, writing about the same time as Plutarch, also says Cleopatra died from an asp bite. Shakespeare also gave his own theory on the death of Cleopatra which gives us the image of Cleopatra clutching the snake to her breast. Before him, it was generally agreed that she was bitten on the arm. The site of their Mausoleum (a monument) is uncertain, though it is thought by the Egyptian Antiquities Service, to be in or near the temple of Taposiris Magna south west of Alexandria. Cleopatras son by Caesar, Caesarian, was proclaimed pharaoh by the Egyptians, after Alexandria fell to Octavian. Caesarean was captured and killed by Octavians. CONCLUSION: Why the women in world history were not given due importance? By taking the example of Cleopatra VII, the reasons why women were not given importance are: Cleopatra being the mother was more concerned about her children. She always tried her children to get throne unlike Julius Caesar who chose his grandnephew. Women are more directed towards their own children rather than caring about their kingdom. Cleopatra was not much concerned for her empire or the kingdom and was more aligned towards her family. Donations of Alexandria is the most important example which clearly explains that Cleopatra cared only about her family. She could have given those empires to some more educated or strong and a better person which could have helped her and Antony in the battle against Octavians. Well these were the main reasons why I think women were not given due importance in history.

Isaac Manuel Francisco Albéniz Biography :: essays research papers

Isaac Manuel Francisco Albà ©niz was born on May 29, 1860 in Camprodà ³n, the Catalan province of Gerona in northeastern Spain. As a child he was exceptionally gifted at the piano and gave his first public performance in Barcelona at the age of four. Two years later his mother took him to Paris where, for nine months, he studied privately with a renowned professor of piano at the Paris Conservatory. An attempt was made to enroll Albà ©niz at the Conservatory, but the boy was denied admission because he was too young. Upon returning to Spain he gave several concerts and published his first composition, Marcha Militar. In 1868 the Albà ©niz family moved to Madrid where Isaac began studying at the Royal Conservatory of Music. The boy’s astonishing pianistic ability inspired great praise and he was acclaimed as Spain’s greatest prodigy, often being compared to Mozart. Soon, however, Albà ©niz became restless and impatient with his studies and attempted many times to run away from home. Twice he ran away from home and supported his living by playing piano for the public and, sometimes, a job as a potter at the deck. After returning home and with the companion of his father, Albà ©niz first performed in the New World in the spring of 1875 when he gave a series of concerts in Puerto Rico. From there he traveled to Cuba where, in the fall of 1875, he gave several more concerts before returning to Spain. Upon returning to Spain, the 15 year old Albà ©niz gave concerts in several Spanish cities, including Barcelona, Valencia, and Salamanca. Realizing that his child prodigy days were nearing an end, and that the transition from child prodigy to mature artist is never a simple one, Albà ©niz enrolled at the Leipzig Conservatory where he hoped to gain the measure of credibility that one gets from studying at a world famous institution. While there he studied piano with students of Liszt. Short of money, ill at ease with the German language, and unhappy with the rigorous discipline imposed on him by his teachers, Albà ©niz returned to Spain after spending less than two months in the Saxon city where Bach, Schumann, and Mendelssohn once lived. Later that same year, Albà ©niz obtained a royal stipend to study at the Brussels Conservatory where, in 1879, he won first prize in piano performance. Following this he made a well-publicized tour of Europe.

Immigration Issues in the United States of America Essay

The United States of America (U.S.A) is a country that was founded on immigration. If a surplus of European immigrants would not have made the transatlantic voyage to America, the U.S.A. would more than likely be nonexistent. For centuries foreigners have been flocking to American soil, in search of a fresh start in a safe location. With so much turmoil and hostility going on in varied countries around the world, more foreigners are attempting to immigrate onto American soil. Now that the total population is rising significantly due to immigrants, a plethora of United States citizens are becoming outraged. If only American citizens would open their eyes to reality, they would discover that immigrants are actually benefiting the United States. Once they immigrate, a large percentage of foreigners do everything they can to be successful. Immigrants benefit the country by starting businesses, working jobs the typical American refuses to work, and bringing cultural diversity to the count ry. Some skeptics believe that foreigners are taking their jobs and raising the crime rate, but they those are wrong allegations. Immigration of foreigners into the U.S.A positively benefits the country in countless ways, instead of negatively affecting it. The economy of the United States of America has had its ups and downs over the course of its existence as a country. Innumerable amounts of people across the globe dream about someday moving to the United States and living out the â€Å"American Dream.† For the lucky foreigners that actually succeed in immigrating to the United States(U.S.)., many of them wish to start up their own businesses. â€Å"In 2008, immigrants represented about 17 percent of all new business owners in the U.S., according to The Washington Post. By 2011, immigrants were creating 28 percent of all new businesses, CNN reports†(Immigration Helps US City Economies and Labor Markets, S&P Says.†). When immigrants come into the U.S., they search for whatever jobs they can get, so that they may support themselves or their families. Many of the jobs available to these immigrants are low-wage jobs, and with such a low income, it becomes hard to support a whole family. That is why a decent percentage of immigrants are starting their own businesses. Once the immigrant decides to be an entrepreneur, their potential profitability sky rockets, because the success of their business could be exponential. Who would choose a minimum wage job over a high paying business venture? Sure there is a chance that the new business could fail, but that is a chance that these hard working individuals are willing to take. These immigrants came to the United States to have a better life, and they will stop at nothing to make sure all their efforts will not be thwarted. â€Å"And as of 2008, immigrant-owned businesses were generating about $67 billion of the country’s annual $577 billion in business income†( Immigration Helps US City Economies and Labor Markets, S&P Says.†). As far as statistics go, it looks as if these foreign entrepreneurs are succeeding. Other areas of the United States economy rely on immigrants. The agricultural economy of the U.S. relies on immigrants to harvest their crops. If not enough foreigners are allowed into the country, farmers will lose vast sums of money, because their crops will not be harvested in time. â€Å"With the harvest season in full bloom, stringent immigration laws have forced waves of undocumented immigrants to flee certain states for more-hospitable areas. In their wake, thousands of acres of crops have been left to rot in the fields, as farmers have struggled to compensate for labor shortages with domestic help†( Bitter Harvest: U.S. Farmers Blame Billion-Dollar Losses on Immigration Laws). Recently with increased border security, fewer immigrants are being let in to the United States, and it has been taking a toll on the agricultural community. Farmers are desperate to get as many migrant workers that they can every harvest season. Now that there significantly less immigrants being allowed into the country, farmers crops are dying before the y can harvest them. Immigration is essential to the success of American farmers, because the common American is not willing to do the difficult labor that the migrant workers perform for the farmers. Immigrants are coming into the U.S. and are actually helping American citizens receive more capital for the jobs they are performing. Some Americans believe that immigrants are a nuisance to the country, and that they do nothing but hurt it. They are very wrong to assume this, because immigrants are actually enabling Americans to profit more for the jobs they are performing. â€Å"This implies that total immigration to the United States from 1990 to 2007 was associated with a 6.6% to 9.9% increase in real income per worker. That equals an increase of about $5,100 in the yearly income of the average U.S. worker in constant 2005 dollars†( FRBSF Economic Letter: The Effect of Immigrants on U.S. Employment and Productivity). This statistic is astounding. Not enough U.S. citizens believe that immigrants are essential to the prosperity of the United States. Immigrants are not only opening up more job opportunities for the American public, but they are also helping them to earn a reasonable increase of income. Without these immigrants, the minimum wage would more than likely take longer to increase over time. The demand for consumer goods is always fluctuating. The American public loves to spend the money they earn. With recent problems in the economy, such as the recession, people are spending less money on consumer goods. Immigrants are essential to the purchasing of consumer goods, because they make up a large portion of the United States population now. â€Å"The Immigration Policy Center estimates that the purchasing power of Latinos and Asians, many of whom are immigrants, alone will reach $1.5 trillion and $775 billion, respectively, by 2015†( The White House Blog). With the amount of immigrants increasing as such a rate, they have now become some of the top buyers of consumer goods in the country. The money that they earn working hard at their differing jobs, they go out and spend on American goods. This in turn helps the economy in the country exponentially, because without them, the population in the U.S. would be significantly less; therefore there would be a substantial loss in the profitability of consumer goods. Also, the immigrants coming into the country help support local buying of goods. No longer can they buy the goods that they once did in their home countries, so they are now supporting the economy of the United States more than ever before. A common misconception of foreigners is that they are taking jobs from American citizens when they immigrate into the country. â€Å"Illegal aliens come to the United States to take jobs that offer them greater opportunity, and they are often welcomed by U.S. employers who are able to hire them for wages lower than they would have to pay to hire U.S. workers†(Passel). The individuals who believe this fallacy could not be more wrong. The truth is, immigrants are benefiting the U.S. economy more than ever. â€Å"Meanwhile, the research has found that immigrants – including the poor, uneducated ones coming from south of the border — have a big positive impact on the economy over the long run, bolstering the profitability of American firms, reducing the prices of some products and services by providing employers with a new labor source and creating more opportunities for investment and jobs†( Immigration and American Jobs). These immigrants came to the U.S. to escape the rough cultures in which they grew up. They only hoped to start a better life in the United States, and do better for themselves. Not only are they now making more money than they would have in their country of origin, but they are also helping to stimulate the nation’s economy considerably. The immigrant work force has benefited the citizens of the U.S. to a degree that has never happened before. While some Americans despise the fact that a plethora of new foreigners are â€Å"taking over† their county, countless others are extremely thankful for all that the immigrants have done for the U.S. Foreigners are skilled in a wide variety of talents. Technology is key in the prosperity of a countries economy. With a surplus of new foreigners in the Unites States, more and more inventions are being constructed by these individuals. â€Å"According to a survey by the National Foundation for American Policy, immigrants have started nearly half of the top 50 venture-funded companies. Software, semiconductors, and biotechnology are the most common venture-backed startup firms started by immigrants†( Nowrasteh). Many of the immigrants that come to the United States of America, are coming from China and the Middle east. These populations of people grew up on the principle of working very hard and staying focused. Now that these foreigners are able to use more advanced technology, they are able to use their talents to their full abilities. Where they once did not have access to the most advanced technology available to mankind, they are now coming to the U.S. and experiencing all that a technologically savvy country has to offer. Crime has become quite the hot topic when it comes to immigrants. American citizens believe that the surplus of immigrants into the country has caused the crime rate to noticeably increase, but this is just another myth. â€Å"In El Paso, Texas violent crime down 36 percent – it sits right across from Juarez, Mexico, one of the deadliest cities on earth. In Phoenix major crime has dropped 10 percent from 2000 to 2009†( Does Illegal Immigration Lead to More Crime?). Just because many immigrants do not have the money, at first, to move into wealthy American communities, people in the U.S. believe that they are criminals. How many people get nervous when they drive through a rough part of town? Well these â€Å"rough† parts of town are where most of these immigrants live when they first come to the country, because they previously spent most of the money they had on moving to America. Crime and immigration are two terms that do not go hand in hand. A very large perc entage of the immigrants coming to America are doing nothing but trying to prosper and live the life that they always wanted to have. Immigration is something that will benefit the Unites States of America in the long run, because it helps to create a very diverse nation. â€Å"The fact that people want to come to the US enhances its appeal. Likewise, because the presence of many cultures creates avenues of connection with other countries, it helps to broaden Americans’ attitudes and views of the world in an era of globalization†( Immigrants Will Strengthen US Power). Once these immigrants come to the United States, they usually have family back in their home country, or connections with businesses. Now that they live in the U.S. they are able to make long lasting connections between their current businesses and their previous businesses. Not only are these immigrants connecting ties back to their home countries, but they are making the United States a more culturally diverse nation. Since the founding of the United States of America, people have been trying to move onto its soil to have a better life , and now they finally can live it. The United States of America has been profiting from immigration since its founding day. Now that there are a wide variety of foreigners in the U.S., the possibilities for economic growth are endless. Immigrants are so essential to the prosperity of the country. Even though there are a plethora of misconceptions of foreigners, they are doing everything they can to prosper in this nation. They start businesses, raise the income for American citizens, and do countless other things to better the nation. Immigration is the future. Works Cited â€Å"Bitter Harvest: U.S. Farmers Blame Billion-Dollar Losses on Immigration Laws.† Business Money Bitter Harvest US Farmers Blame BillionDollar Losses on Immigration Laws Comments. N.p., n.d. Web. 13 Dec. 2012. â€Å"Does Illegal Immigration Lead to More Crime?† CBSNews. CBS Interactive, 23 July 2010. Web. 13 Dec. 2012. â€Å"FRBSF Economic Letter: The Effect of Immigrants on U.S. Employment and Productivity (2010-26, 8/30/2010).† FRBSF Economic Letter: The Effect of Immigrants on U.S. Employment and Productivity (2010-26, 8/30/2010). N.p., n.d. Web. 13 Dec. 2012. â€Å"Immigrants Will Strengthen US Power.† South China Morning Post. N.p., n.d. Web. 13 Dec. 2012. â€Å"Immigration and American Jobs.† Economix Immigration and American Jobs Comments. N.p., n.d. Web. 13 Dec. 2012. â€Å"Immigration Helps US City Economies and Labor Markets, S&P Says.† Fox News Latino. N.p., n.d. Web. 13 Dec. 2012. Nowrasteh, Alex. â€Å"Immigrants Help Fuel Te ch Growth.† The Huffington Post. TheHuffingtonPost.com, 19 Jan. 2012. Web. 13 Dec. 2012. Passel, Jeffery S., and Cohn D’Vera. â€Å"Illegal Aliens Taking U.S Jobs (2011).† Fedoration For American Immigration Reform. N.p., n.d. Web. 13 Dec. 2012. â€Å"The White House Blog.† Ten Ways Immigrants Help Build and Strengthen Our Economy. N.p., n.d. Web. 13 Dec. 2012.

American Barrick Resources Corporation Case Essay

a. Explain the value chain for gold mining firms (how can a mine create a competitive advantage relative to its rivals). What are the factors that may explain exceptional performance of ABX relative to the other gold mines? To create a competitive advantage, a mine has to properly manage its exposure to gold price fluctuations. This is not an easy thing to do since there are so many factors to consider: when, how much, and how to hedge the gold production. Firms in this industry differentiate themselves based on the risk management strategies they implement. Furthermore, mines should also be able to minimize the cost of gold production along with making large sunk costs. Operating in this sector obliges the companies to make huge investments to create the proper infrastructure to dig and process the ore; therefore, they should be financially stable on order to afford investing large amount of money. ABX implemented a gold hedging program that quickly became an integral part of its corporate strategy. This strategy helped it to hedge efficiently against gold price fluctuation. Besides, it allowed it to occasionally sell its gold at prices above those of the market. The exceptional performance of ABX was also due to its annual acquisitions. Luck was an important aspect as well, since gold was discovered in most of its new properties. Moreover, American Barrick generated a lot of cash, which it reinvested to finance its growth. It was also able to cut its expenses in order to enhance its growing profitability. The management of American Barrick wanted to diversify its activities by listing the company in Toronto, Montreal, and the United States among others. The top managers were very serious about keeping a financial stability and a liquid balance sheet by issuing few debts and hedging against risk. All in all, American Barrick attracted a lot of investors because of its risk management strategies, expected future growth, strong and liquid balance sheet, and finally its efficient management team. b. Quantify the nature of gold exposure, that is, in the absence of a hedging program using financial instruments, how sensitive would Barrick stock be to gold prices changes? For every 1% change in gold prices, how might its stock price be affected? How could the firm manage its gold price exposure without the use of financial contracts? If American Barrick wanted to protect itself from gold price exposure without the use of financial contracts, it could use natural hedges. One way to hedge against undesired risk is to match cash flows such as revenues and expenses. In other words, a commodity producer such as American Barrick, which has revenues payables in U.S. dollars and incurs cash outflows in a different currency, will try to match its outflows to its expected inflows in the foreign currency. Another way of hedging against risk is the purchase of insurance to protect against financial loss due to external influences. It is also common to hedge gold investments against fluctuations of the U.S. dollar. It is extremely important for commodity traders to know which currency is correlated with what commodity in order to be able to predict certain market movements; for instance, there is often a negative correlation between gold and S&P 500. c. What is the stated intent of ABX’s hedging program? What are the arguments for managing gold price exposure? ABX wanted to lock in the price at which it could sell its output in order to avoid seeing the expected value of its projects fluctuate widely. It wanted to differentiate itself from its competitor by choosing the right hedging policy. ABX aimed at being financially stable by protecting itself against the dips in the gold price. It vehemently argued that managing gold price exposure would allow it appropriately forecast its cash flows, rise its production, and offers its investors a clear vision of their future earnings. d. How would you characterize the evolution of Barrick’s price risk management activities? Are they consistent with the stated policy goals? American Barrick used to use gold financings. Through this way of financing, investors could benefit from both the increase incurred in the volumes of gold to the trust and the gold price. In 1984 and 1985, ABX used forward sales right after a sharp drop in gold prices. This strategy allowed the company to eliminate its exposure to price drops; however, it also limited its opportunities to benefit when the prices rose. This led it to try option-based insurance strategies that could manage the risk but still allow retaining some of the benefits of rising prices. However, as it needed contracts with a longer maturity, ABX shifted to spot deferred contracts. The evolution of Barrick’s risk management activities is characterized by its wish to be fully protected against price declines and still be able to capture benefit from increasin g gold prices. The risk management strategies implemented by American Barrick were consistent with their goals since its positions grew considerably.   e. How should a gold mine which wants to moderate its gold price risk compare hedging strategies (using futures, forwards, gold loans, or spot deferred contracts) with insurance strategies (using options)? On what basis should these decisions be made? Once a firm has decided on either a hedging or an insurance strategy, how should it choose from among specific alternatives? A mine that wants to moderate its gold price risk should first analyse the differences between the hedging and the insurance strategies. Indeed, hedging allows eliminating risk by giving up the potential for gain. While an insurance strategy requires a premium to eliminate risk but allows retaining the potential for gain. The decision should be made based on the cost of the strategy, the maturity of the strategy, and the degree to which the strategy allows to benefit from potential gains. Once a firm has decided on what strategy to follow it should choose among the existing alternatives of each strategy. For the hedging strategy, the company should take into consideration the particularity of each financial instrument. Indeed, forward sales for instance, are usually for relatively short delivery periods of under a few years. However, a continuous drop in gold prices might negatively affect the opportunity for the firm to sell at higher market prices. On the other hand, spot deferred contracts allow having multiple delivery dates. They enable the firm to profit from increases in the price and yet set a minimum price on its sales. For the insurance strategy, the main problem encountered by the firm is that of the cost. Indeed, the firm should use the premiums received from the sale of calls to purchase puts. That way the cash inflows and outflows cancel out. The firm can also reduce the cost of insurance by adjusting the exercise prices and rations of puts and calls to determine the degree at which it chose to participate in gold price rises. f. What is a â€Å"spot deferred contract†? Explain the mechanics of the contract. Is it an option? A forward contract? Why has ABX chosen to rely on spot deferred contracts relative to other gold derivatives? As defined in the case, a spot deferred contract is a type of forward sale of gold. At the opposite of a forward where the delivery is set on specified day (maturity), SDC’s are characterized by multiple delivery dates. It is up to the seller to choose on which rollover date they would make the delivery. The seller has the choice to defer the delivery up until the end of the contract. In other words, the seller had flexibility as to when they would like to deliver the quantity of gold. ABX preferred SDC’s to other gold derivatives for the simple reason that they allowed it to profit from increases in the price of gold and yet set a minimum price on its sales of gold. Therefore, as years have gone by, ABX found itself using more and more SDC’s at the expense of other hedging vehicles.

Educational Reform in the State of Florida

Educational Reform in the State of Florida Abstract Educational reform in the state of Florida has proved to be successful as the students’ performance increased in the state. The state ranks 11th in terms of students’ achievements whereas before the reform it was at the bottom of the rating. The so-called achievement gap (i.e. the gap between performance of white and minority students) has decreased, though it still exists.Advertising We will write a custom essay sample on Educational Reform in the State of Florida specifically for you for only $16.05 $11/page Learn More Other states also try to implement the reform. Of course, it is important to remember that to make the initiative successful, government leaders will need to use a comprehensive approach, i.e. the reform should be implemented in full. The Reform in the State of Florida The Educational Reform in the State of Florida was initiated by Jeb Bush, then governor of the state. This reform was implemented in terms of the progra m launched by then President George Bush â€Å"No Child Left Behind† (Anderson, 2011). Notably, the reform has proved to be very successful as the situation has improved considerably. The reform has addressed several issues. Firstly, the state grades schools from A to F. This grading is based on the school’s progress in annual tests in writing, reading, mathematics and science (The Economist, 2012). The schools that receive A get extra funding, whereas if a school grades F twice in four year, students can transfer to another school with a better grade. Apart from this, the third graders who cannot read properly are not any more allowed to the fourth grade. Besides, in terms of the reform teachers whose students pass certain tests receive certain bonuses. Furthermore, the system of vouchers enabled parents to choose among public, private, charter and online schools. Some methods of certification were also implemented. As any other reform, the present initiative has evok ed many debates. There are proponents and those who oppose the initiative. Researchers, educators and officials single out positive as well as negative outcomes of the reform. Arguments for the Reform As far as positive outcomes of the reform are concerned, there are quite many of them. For instance, Florida which was at the bottom of the rating in terms of educational achievement has approached the top ten states (Coutts LaFleur, 2011). Coutts and LaFleur (2011) note that the average performance of Florida’s students is still quite low, and there is still a gap between white and minority students’ performance. However, the researchers admit that the situation in the state has improved significantly (Coutts LaFleur, 2011). Wilson (2012) provides major achievements of the reform. Thus, students with disabilities, Hispanic students and African American studentsAdvertising Looking for essay on public administration? Let's see if we can help you! Get your first p aper with 15% OFF Learn More have made great strides in closing the achievement gap in fourth-grade reading and fourth- and eighth-grade math, improving a grade level each year since 2003 (combined average). (Wilson, 2012, n.p.) The researcher also notes that the achievement gap (though it still exists) has decreased in the state. It goes without saying that education has become more achievable for many people. Minorities and students coming from poor families can obtain higher education. There are lots of grants and other opportunities to go to a college. At this point it is necessary to add that the number of Florida’s students who take various standardized tests has increased (The Economist, 2012). Remarkably, parents can better understand their children’s performance. Parents and students can also choose a school in accordance with the quality of education. On the other hand, schools are also encouraged to improve the services provided. Schools try to have a good grade to remain competitive. Of course, competition is one of the premises for development. Likewise, teachers are also encouraged to give more. If a teacher manages to be inspiring, the students successfully pass exams. These achievements turn into financial benefits for the teacher. This also encourages teachers to try their best to make their students interested in their subject. Undoubtedly, this positively affects the overall performance of students of the state. Arguments against the Reform Irrespective of all positive effects, there are still those who oppose the reform. One of the major arguments of the opponents is that Florida’s students’ average performance is still quite low as the state ranks eleventh (Wilson, 2012). Wilson (2012) claims that this is not quite enough to completely confirm that the reform is 100 per cent effective. Opponents of the reform also state that there is still quite considerable achievement gap between white and mino rity students (Coutts LaFleur, 2011). The opponents admit that the gap is not that high. However, they stress that the reform cannot be regarded as totally effective if the achievement gap still persists. The reform is also criticized for its reliance on standardized tests (Anderson, 2011). It is also mentioned that Jeb Bush slightly increased the fees. However, it is necessary to add that the fees are quite low if compared with the rest of the states. Finally, many people claim that another drawback of the reform is the way Jeb Bush implemented it. Thus, he used quite autocratic ways to make people adopt the new ways.Advertising We will write a custom essay sample on Educational Reform in the State of Florida specifically for you for only $16.05 $11/page Learn More Efforts to Take Admittedly, some arguments against the reform are quite justified. Nonetheless, the reform has proved to be effective. Many states try to implement the reform to improve their e ducational system (Anderson, 2011). However, it is important to be quite careful when implementing the system. In the first place, it is important to remember that any reform is a complex entity. Therefore, it should be implemented in full. It is inappropriate to adopt some ways while ignoring other measures and methods. It can be even more effective if all states implement the reform. Some argue that implementation of the reform needs a lot of money. Nonetheless, government leaders can implement the reform without raising taxes or school fees. Of course, this sphere will still need considerable funding, but it will not require extra funding. The reform presupposes justified allocation of funds. Thus, schools which get grades A and B can obtain extra money, while schools which get C-F will receive only standard funding. More so, it is possible to implement additional measures to help schools performing poorly. Of course, additional bonuses for teachers have fostered quite heated deb ate. Some educators argue that introduction of these bonuses can lead to various violations. More so, some believe that the bonuses may lead to certain kind of disproportion. Admittedly, this is quite a serious issue to address. However, government leaders should not focus on some individuals’ ambitions. It is possible to launch some proficiency tests for teachers. Educators should help teachers who perform poorly. Various training courses should be available for teachers. Therefore, it is possible to note that the educational reform in the state of Florida has proved to be effective. However, it is also important to note that it is far from being completed as educators and government leaders have a lot of issues to address. Reference List Anderson, N. (2011). Another brand of Bush school reform: Jeb’s. The Washington Post. Retrieved from washingtonpost.com/local/education/another-brand-of-bush-school-reform-jebs/2011/03/23/AFwfUYCC_story.html Coutts, S., LaFleur, J. (2011). How other states can learn from Florida’s successful education reform. Business Insider. Retrieved from businessinsider.com/how-other-states-can-learn-from-the-success-of-floridas-education-reform-2011-6Advertising Looking for essay on public administration? Let's see if we can help you! Get your first paper with 15% OFF Learn More The Economist. (2012). The Floridian school of thought. Retrieved from economist.com/node/21548268 Wilson, M. (2012). Point of view: Florida’s education reforms are gaining national acclaim. The Florida Times Union. Retrieved from http://jacksonville.com/opinion/columnists/2012-06-10/story/point-view-floridas-education-reforms-are-gaining-national

Beowulf Literary Analysis Essay Example

Beowulf Literary Analysis Essay Example Beowulf Literary Analysis Essay Beowulf Literary Analysis Essay Nick Paine 3/11/13 Beowulf Literary Analysis In the poem Beowulf, the issue of whether or not this particular period is more barbaric or is more civilized. The author of Beowulf is trying to present a certain message in the poem. The message that can be pulled from Beowulf is that even within a society of thought to be malicious and barbaric, there is still room for it to be civilized. When you think of Vikings you don’t necessarily think of a civilized society. In Beowulf, the society of that particular era and people is thought to be fighting, dangerous and overall barbaric. This assumption is not completely because in the poem, the are big into fighting and most importantly there are monstrous creatures running amok, reeking havoc. With the monsters of Grendel, Grendel’s mother, and the dragon existing, it makes the society seem that much more horrid and barbaric. In the poem it describes Grendel by saying â€Å"He was spawned in that slime of Cain, murderous creatures banished by God, punished forever for the crime of Abel’s death. (35 l. 105-108 ). This just goes to show how elements like this can cause someone to believe this time period is more barbaric. However, after a closer evaluation of the poem you are able to see that this society is not as barbaric as it originally seems. Two examples of something that shows how this society can be considered civilized are the mead hall, and the armor worn by the people. In the poem it refers to the mead hall as the â€Å"Gold shining hall† (40, l. 239), this quote emphasizes the importance and pride they take in the mead hall. The mead hall is decorated with vast quantities of gold and it represents the respect it gets from the society. The armor is also regarded in the text when it says â€Å"Helmeted, the silvery metal of his mail shirt gleaming with a smith’s high art†(37, l. 139-140). This quote shows, once again, shows the pride of these people, this time in their armor. So, what you can conclude from this is that they can’t be so barbaric if they are taking the time and putting in the effort into these things. Their pride symbolizes how civilized the society actually was. Before analyzing the poem one may look at this society as being barbaric simply because of the monsters and what they know about Viking warriors. Yet, after further evaluation of the text you are able to find the messages the author has left, giving the idea that maybe the society is not so barbaric after all. Altogether, in the end it is safe to say the author has left a lesson saying not all things that are barbaric can’t be civilized.