Case Study Essay - 33967 Words

PART ONE Medical-Surgical Cases 1 1 Cardiovascular Cardiovascular Disorders Case Study 1 Heart Failure Difficulty: Beginning Setting: Emergency department, hospital Index Words: heart failure (HF), cardiomyopathy, volume overload, quality of life X Scenario M.G., a â€Å"frequent flier,† is admitted to the emergency department (ED) with a diagnosis of heart failure (HF). She was discharged from the hospital 10 days ago and comes in today stating, â€Å"I just had to come to the hospital today because I cant catch my breath and my legs are as big as tree trunks.† After further questioning, you learn she is strictly following the fluid and salt restriction ordered during her last hospital admission. She reports gaining 1 to 2 pounds every day†¦show more content†¦Ã¢â‚¬ ¢ †¢ †¢ †¢ †¢ Increased urine output Daily weight, looking for weight loss Intake and output (IO) Decreased dependent edema Decreased shortness of breath, diminished crackles in the bases of the lungs, decreased work of breathing, and decreased O2 demands †¢ Decreased jugular venous distention (JVD) 6. What laboratory tests should be ordered for M.G. related to the order for furosemide (Lasix)? (Select all that apply.) a. Magnesium level b. Sodium level 2 Copyright  © 2013 by Mosby, an affiliate of Elsevier Inc. Copyright  © 2009, 2005, 2001, 1996, by Mosby, Inc. an affiliate of Elsevier Inc. All rights reserved. CHAPTER 1 c. d. e. f. CARDIOVASCULAR DISORDERS CASE STUDY 1 Complete blood count (CBC) Serum glucose levels Potassium level Coagulation studies 1 Cardiovascular Answers: A, B, D, E Furosemide is a potent diuretic, especially when given IVP, and may cause the loss of electrolytes such as magnesium, sodium, and potassium. These electrolytes will need to be supplemented if the levels are low. In addition, furosemide may increase serum glucose levels, which is an issue, considering that M.G. has diabetes. It is not necessary to monitor CBC or coagulation studies while on furosemide. 7. What is the purpose of the beta blocker carvedilol? It is given to: a. increase the contractility of the heart b. cause peripheral vasodilation c. increase urine output d. reduce cardiacShow MoreRelatedCase Studies : A Case Study Approach Essay1157 Words   |  5 PagesA case study is a specific instance that is frequently designed to illustrate a more general principle (Nisbet and Watt, 1984). Hitchock and Hughes (1995) further suggest that the case study approach is particularly valuable when the researcher has little control over evens. Case studies strives to portray ‘what it like’ to be a particular situation, to catch up reality and ‘thick description’ (Geertz, 1973) of participants’ lives experiences of, thoughts about and feelings for a situation. TheyRead MoreCase Study887 Words   |  4 PagesCHAPTER I INTRODUCTION 1.1 Reasons choose the case 1.2 The Problems The problems of this case are: 1. How would you characterize Lincoln Electric’s strategy? In this context, what is the nature of Lincoln’s business and upon what bases does this company compete? 2. What are the most important elements of Lincoln’s overall approach to organization and control that help explain why this company is so successful? How well do Lincoln’s organization and control mechanismsRead MoreBusiness Case Study : Business Case Studies997 Words   |  4 PagesWriting Business Case Studies How to Write Business Case Studies The objective of this part of the course is to use your case study to help you solve real company problems and to make the learning more relevant to your experience. The Business Case Study you are being asked to start today will provide information for yourself and the class to permit constructive feedback. You will have to use all of your research, writing and analytical skills to write your Company Case Study. You must give enoughRead MoreCase Study148348 Words   |  594 Pages978-0-273-73552-6 (web) All rights reserved. Permission is hereby given for the material in this publication to be reproduced for OHP transparencies and student handouts, without express permission of the Publishers, for educational purposes only. In all other cases, no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without either the prior written permission of the Publishers orRead MoreCase Studies13817 Words   |  56 PagesCASE STUDY #1 A Job Search Dilemma Eric, a second-semester senior, is looking for a job. Anxious about finding work in the worst economy in decades, he sends out scores of resumes for a wide variety of positions. The first call he gets is for a position that doesnt really interest him, but he figures he should be open to every opportunity. He schedules an interview, which he aces. In fact, the recruiter offers Eric the job on the spot. He would like Eric to start as soon as possible. Should EricRead MoreCase Study 8985 Words   |  4 PagesCase Study 8 Based on the January through June 2010 cash budget, what is the maximum monthly loss during the six-month planning period? What is the maximum cumulative borrowing balance? (For purposes of this question, disregard any interest payments on short-term bank loans or interest received from investing surplus funds.) Maximum monthly loss is in June: -$60,750. The maximum cumulative borrowing balance is $99,000 in February. What does the monthly cash budget reveal that indicatesRead MoreCase Study : The Angel 1089 Words   |  5 Pages Case Study #1 The Angel, 1997 Susan Meeks, an alias, woke to what she thought was the middle of the afternoon. A bright yellowish light was shining through the west window of her travel trailer. An other world being was in the room and was as tall as the ceiling of the trailer. She went to the bathroom where she washed her face with cold water and stayed in there long enough to smoke a cigarette. When she went back to the bedroom the being was still there. The being showed her futureRead MoreThe Case Study Of The Company1468 Words   |  6 PagesOverview of Case Study In the case study by Spector titled, Transferring Innovation Across National Boundaries, (Spector, 2012) company named Minnesota Biolabs (MB) provided laboratories with a quality test for contamination of injectable medications. This test required the use of live rabbits that led to the rabbit’s death after the test. The company was headquartered in Minneapolis, however they were organized with four, somewhat independent, national units in Europe and Japan, each run by aRead MoreLaw of Case Studies1514 Words   |  7 PagesZulfatah Arif SCM-019741 Work Psychology in Communication, Writing and Reporting COM 2153 Mr Haji Adenan Case Studies An Unmotivated Building Inspector Case Study By: Zulfatah Arif 1) Review the motivation theories discussed in this chapter. How would each one describe and explain the problems with Simon Lucas’s motivation? The theories that would be relevant to the problems with Simon Lucas’ motivation would be the McClelland’s Need Theory and Herzberg’s Two-Factor Theory.Read MoreCase Study Essay1116 Words   |  5 PagesCase Study Objective The Case will focus on issues related to the cultural aspect of international business; sustainable business practices including CSR issues; foreign investment; and the benefits of regional integration for the countries within, and companies doing business in, that region.   The case study analysis will be completed on an individual basis. Instructions THE CASE: Kaizer Consulting Kaizer Consulting is an international management consulting firm that specializes in business strategy

Essay on Federal vs. State Policy Comparison - 1109 Words

Comparison Laws and policies are written in different aspects of the criminal justice system. Some of these policies are written within the federal government and some are written on a smaller scale in the state government. The two seem rather simple to understand on the surface. The federal government handles the entire United States whereas the state government handles just what it says and that is within that specific state, such as New Jersey (N.J.). The following paper will contain information which will compare and contrast the policies written from both types of governments and how they relate to the criminal justice system. There will be information on how these policies have been developed and how they are implemented. Some†¦show more content†¦There is more difficulty in determining the federal system estimates. Federal sentencing guidelines were born in 1987 after the decision in Mistretta v. United States. Time sentenced and time imposed were brought closer together. There was an increase of the amount of offenders sentenced to prison and the average time they served (Wright, 2006). There is a severity gap between federal and state prison sentencing. Prosecutors are able to pursue charges in whichever system they choose and this is because of the overlapping gap between the two prison systems. The choice between the two really does matter a great deal due to the gap (Wright, 2006). The gap is more visible when charges are similar to each other, such as crimes involving methamphetamine. For instance, a defendant who was charged with trafficking 50 grams of meth will be sentenced to anywhere from 70 months to 84 months in a North Carolina state prison, but in a federal prison could face anywhere from 120 months to life. The differences there are huge. A prosecutor looking to put the defendant away for a long time will likely look at getting the offender sent to the federal prison (Wright, 2006). The gap that is seen between the two prisons systems is no t always that big of a gap. Federal manslaughter under the United States Sentencing Guidelines â€Å"were lower than the authorized sentences for manslaughter in many states for many years (treating the federal guidelines maximum as the highestShow MoreRelatedState vs Federal1043 Words   |  5 Pages| Federal Vs State Policy Comparison | | | CJA 464 | Robert Powers | | Each state has their own specific unique laws established individually for their state. In conjunction with those laws that exist over the people in their specific state there are also federal laws that govern the states as well as the people who live in them. These laws that govern the people are known as state laws and federal laws. The U.S. Constitution is the supreme law of the land in the United StatesRead MoreEducation: The Down Fall of the U.S.1680 Words   |  7 Pageseducational performance that exists today, we might well have viewed it as an act of war.†, the report sent off a firestorm of reform efforts at the local, state, and federal levels. Almost thirty years later, has the commission’s recommendations been implemented, or have any of the reform efforts from governmental levels changed the United States educational outlook? This paper will discuss the recommendations set out in the report A Nation at Risk from the National Commission on Excellence in EducationRead MoreExchange Rate Fluctuation Factors On Currency1272 Words   |  6 Pagesunits of local currency (SAP Solutions, 2015). Obtaining exchange rates to compare the United States Dollar (USD) to other currencies is best completed using the direct exchange rate to provide consistent data and reporting. Strength of the United States Dollar In comparing the exchange rates of the USD to foreign currencies, four additional countries were used to complete a two year comparison: Japanese Yen (YEN), European Euro (EURO), British Pound (GBP), and Mexican Peso (MXN). ExchangeRead MoreHealth Risks Vs. Economics Of Tobacco Consumption1614 Words   |  7 PagesEconomic research will be provided on where the government stands in the economic fight amongst tobacco consumers in order to lead Americans into a healthier and more economically stable future. HEALTH RISKS VS. ECONOMICS OF TOBACCO CONSUMPTION 3 HEALTH RISKS VS. ECONOMICS OF TOBACCO CONSUMPTION In today’s society, more and more consumers are becoming health conscious while looking to get a better handle on their financial spending due to the effects of a struggling economyRead MoreAbortion Is A Medical Procedure Essay1522 Words   |  7 Pagesthroughout the states. Abortion has a vast history, variety of procedures, and some interesting data specific to the state of Arkansas. Even before Roe VS. Wade, women had been terminating unwanted pregnancies for thousands of years (Alexander, LaRosa, Bader, Garfield, Alexander, 2014). The important information to note about this, is that these abortions were not medically safe or legal even though they were occurring. This is one of the factors that may have led to the Roe Vs. Wade decisionRead MoreThe Equal Pay Act And The Civil Rights Laws1595 Words   |  7 Pagesadvertised in newspapers with different pay scales for the same jobs with the highest-level jobs advertising for men only. Subsequently, two important court cases, Schultz vs. Wheaton Glass (1970) which ruled jobs only need to be substantially equal and not identical to be protected under the Equal Pay Act and Corning Glass Works vs. Brennan (1974) that determined women could not be paid less simply because they would work at a lower pay rate than men helped to strengthen and further define the EqualRead MoreEssay about HIST 1302 FINAL EXAM REVIEW13 43 Words   |  6 Pagesas _____________ is to Eisenhower. Brinkmanship 9. Which Supreme Court decision ruled that a state law school have to admit qualified African American applicants even if parallel black law schools existed? Sweat vs. Painter 10. Which Supreme Court decision ruled that segregation in public schools was unconstitutional? Brown vs. Board of Education 11. Where was the â€Å"March for Freedom† in which state troopers and deputized citizens brutally attacked marchers in full view of television that helpedRead MoreEssay about The Social Security Program 1401 Words   |  6 Pagesyour reported earnings (United States Government, 2014). As actuaries, policy makers, and the public are faced with the dilemma of a social security program which will be unable to meet its needs by 2038, the solution appears to be clouded by ideological, demographic, partisanship, market performance and fiscal viability (Svihula, 2008). Through supporting evidence and inference it will be clear that privatization opens issues of risk, which are overwhelming in comparison to the structural issues ofRead MoreThe Political Positions Of The Democratic And Republican Parties Essay1620 Words   |  7 PagesThis comparison will be examining the differences between the policies and political positions of the Democratic and Republican parties on the major i ssues that or government is having such as the healthcare, the role of government, gun control, entitlements, immigration, taxes, abortion and gay rights and many other issues that or country is going throw. These two parties are the most powerful in America s political landscape but differ greatly in their philosophies and ideals. In which DemocratRead MoreU.S. Prison System and Its Populations: Whites vs. Minorities1736 Words   |  7 PagesCourse Project Outline Scenario #4 U.S. Prison System and its Populations: Whites vs. Minorities Kent Johnson SOCS350 Professor: Dr. J. Johnson June 7, 2010 Table of Contents General Statistics 3 Men vs. Women 4 Statistics: The Who and the Why 6 Black Judges vs. White Judges and Their Decisions 8 What is being done to reverse this Trend 10 References 11 Statistics In the prison system today, there has been an explosion of minorities being

Causes and Effects of Smoking free essay sample

Causes and Effects of Smoking There are millions of people around the world who smoke daily. They inhale the toxins into their bodies, which can harm them internally. Although you may not be a smoker, there are still chances that you are inhaling the toxins of the cigarrete as well. Thousands of people die a year from smoking; more than car accidents and other sunstance abuse. Smoking can lead to many health problems. People who smoke are at high risks of problems with their heart, lung and respiratory system, ertain types of cancers, premature death, and other health problems. There are several different types of harmful chemicals in tabacco smoke. Out of the 7,000 chemicals in tobacco smoke, at least 250 are known to be harmful, including hydrogen cyanide, carbon monoxide, and ammonia. While there are several different types of chemicals, out of the 250, there are approximately 70 chemicals that can cause cancer. Some of the cancer-causing chemicals are arsenic, beryllium, nickel, vinyl chloride, as well as other chemicals. We will write a custom essay sample on Causes and Effects of Smoking or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The types of cancers that smoking can lead to are lung, mouth, esophagus, kidney, stomach, and throat cancer. The more that a person smokes, the higher at risk they are of conceiving these types of cancer; mainly lung cancer. Approximately 90% of people who are diagnosed with lung cancer are caused by smoking. If no one smoked, lung cancer would be a very rare illness. However, for someone who may have quit smoking, it will take approximately 15 years for their lungs to become the same as non-smokers. Smoking can also lead to various types of diseases. One disease that is very common is heart disease. Heart disease is not Just one condition, but it is a group of conditions. The heart has many root causes such as coronary artery disease. If plaque builds up in the arteries, then the blood will not be able to reach the heart. Your heart is a muscle with blood constantly moving in and out. The blood keeps your heart to work properly. But, high blood pressure, high cholesterol, stress, and smoking can lead into coronary artery disease. Other types of diseases that are caused by smoking are Alzheimers disease, bronchitis, emphysema, and several others. Although people do not smoke, they still somehow are diagnosed with cancer or diseases from smoking. How is this exactly? Well, people who dont smoke can still inhale the toxins from cigarettes of people who smoke around them, or in their environment. Second-hand smoking is also known as environmental tobacco smoke or passive smoking. It is the combination of sidestream smoke (the smoke given off by a burning tobacco product) and mainstream smoke (the smoke exhaled by a smoker) Inhaling the moke given off by the cigarette can lead to lung cancer in a non-smoking adult. There are thousands of people who are non-smokers, which die each year from lung cancer. This is because they were exposed to second-hand smoking. Second-hand smoke causes disease and premature death in non-smoking adults and children. Women who are pregnant and exposed to second-hand smoking can give birth to a baby with a low birth weight. While adults can get lung cancer and other diseases, children can also be exposed to second-hand smoking. Children who are exposed to ronchitis, and asthma. It can slow the growth of the childs lungs and cause them to be breathless. In conclusion, smoking can lead to several health problems. Several of these health problems can lead to other types of diseases and cancers, as well as death. Pregnant women and children exposed to second-hand smoking can ruin their health. Smoking affects us and the world because it is one of the leading causes of death. Inhaling the toxins destroys our bodies, and there are more and more people every year who die from these toxins.

The Yellow Wallpaper Essay Research Paper Insanity free essay sample

The Yellow Wallpaper Essay, Research Paper Insanity and Feminism in the Works of Charlotte Perkins Gilman ? The Yellow Wallpaper? by Charlotte Perkins Gilman reflects the intense battle with of a adult female during the late 1800? s. However, as the narrative unfolds, we realize the grounds for this insanity and the connexions of this dislocation to the chief character? s hubby, John. What we discover is the manner adult females were treated during the late 1800? s and the significance of this intervention on their lives. The narrative clearly expresses the hurting, resistance, and depression experienced by adult females at that clip and provides a background for the initial phases of the feminist motion. As the narrative begins, the writer decribes in item her painful relationship with her hubby. She writes? John laughs at me of class, but one excepts that in matrimony? . She besides explains? So I take phosphates or phosphites-whichever it is, and quinine waters, and journeys, and air, and exercising, and am perfectly out to? work? until I am good again. We will write a custom essay sample on The Yellow Wallpaper Essay Research Paper Insanity or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page ? It is clear that the chief character is really unhappy in her matrimony which causes her hurting, and that she is unable to make the things she would wish to make. When she states ? You see he does non believe I am ill! ? it is apparent that she feels really repressed and that no affair what she says that she needs her hubby, he does non hold the capacity to understand or to react to those demands. He is emotionally unavailable. Her defeat grows and contributes to her insanity and hurting as the narrative progresses. The house in this narrative represents the chief character and the resistance she faces related to her hubby. ? It is rather entirely, standing good back from the route, rather three stat mis from the small town. It makes me believe of English topographic points they you read about, for there are the hedges and Gatess that lock, and tonss of separate small houses for the nurserymans and people. ? The manner she describes how the house stands back from the route and the he dges, walls, and gates that lock are symbolic of how she sees herself. She feels really entirely. The chief character provinces? I am afraid, but I don? t care-there is something unusual about the house-I can experience it. ? This explains how she feels about herself, that something is incorrect, she can experience it. These feelings are straight connected to oppositional nature of her hubby. The remainder of the narrative conveys in great item the symbolism of the xanthous wallpaper, it? s part to her depression. The wallpaper seems to stand for the chief character? s hubby. ? The wallpaper, as I said before, is torn off in musca volitanss, and it sticketh closer than a brother-they must hold had doggedness every bit good as hatred. ? She continues? This wallpaper has a sub- form in a different shadiness, a peculiarly annoying one, for you can merely see it in certain visible radiations, and non clearly then. ? This mirrors the manner she feels about her relationship with her hubby, how he controls her every move, and the manner he smothers her. In direct contrast is the form in the wallpaper which represents the chief character and her matrimony. ? The swoon figure buttocks seemed to agitate the form, merely as if she wanted to acquire out. ? The chief character continues? Sometimes I think there are a great many adult females behind, and sometimes merely one, and she crawls about really fast, and her creeping shingles all over. ? The description of the forms in the yellow wallpaper represent a changeless battle in an unhappy matrimony and the chief character? s desire to go forth the relationship, but reflect her inability to make so. Consequently, she becomes highly down. In decision, ? The Yellow Wallpaper? is a really symbolic narrative, representative of life in the late 1800? s, and the battle for adult females to be heard. This narrative is written about the life and experiences of one person, her hurting, resistance, and depression, but can be expanded to stand for the battle for freedom for all adult females during that epoch.

Germany n Hitler essays

Germany n Hitler essays The 1920's and early 1930's found Germany unstable socially economically and politically. The government was more often in a state of disarray than not, the populace was disillusioned and scared, and the Great Wall Street stock markets crash of 1923 saw the economy crumble before the population's eyes. These unfavorable factors combined to create a nation of precarious stature, a country which was looking for a savior. This came in the form of fascism, an ideology in which the individual is dominated by an all-powerful state under the control of one supreme leader. The hand to lead the people of Germany out of all the problems and deceptions of these terrible times was Adolph Hitler, fascist dominator. These difficulties gave Hitler and the Nazi party the opportunity to employ their propaganda skills to capture this disenchanted nation and win their hearts, but more importantly, to manipulate their minds. By the mid 1920's Adolph Hitler was the undisputed leader of the Nazi Party. Much of Hitler's success as a politician during his pilgrimage to higher power in Germany was due to his powerful and dominating personality. A master orator, not only was Hitler a charismatic speaker, but his public speaking was so passionate and dynamic that the crowds would be driven wild with enthusiasm of the ideas he preached. Hitler's devoted oratory often made vague promises while avoiding the details, by using simple catch phrases, repeated over and over. Hitler's dominance and authoritarian nature was a much-needed change for the people of Germany, following the indecisive and so often unsuccessful muddling of the Weimar government and its predecessors. The Spartacist rising of 1919 was an early political factor that encouraged the initial success of Hitler during the rise of fascism in Germany during the 1920's. January 5th 1919 saw an unprepared and badly staged Spartacist putsch, where the communist's led by 'Red Rosa' Luxembourg, capt...

A Look at the History of Computers

A Look at the History of Computers Before the age of electronics, the closest thing to a computer was the abacus, although, strictly speaking, the abacus is actually  a calculator since it requires a human operator. Computers, on the other hand, perform calculations automatically by following a series of built-in commands called software. In the 20th century,  breakthroughs in technology allowed for the ever-evolving computing machines that we now depend upon so totally, we practically never give them a second thought. But even prior to the advent of microprocessors and supercomputers, there were certain notable scientists and inventors who helped lay the groundwork for the technology thats since drastically reshaped every facet of modern life. The Language Before the Hardware The universal language in which computers carry out processor instructions originated in the 17th century in the form of the binary numerical system. Developed by German philosopher and mathematician Gottfried Wilhelm Leibniz, the system came about as a way to represent decimal numbers using only two digits: the number zero and the number one. Leibnizs system was partly inspired by philosophical explanations in the classical Chinese text the â€Å"I Ching,† which explained the universe in terms of dualities such as light and darkness and male and female. While there was no practical use for his newly codified system at the time, Leibniz believed that it was possible for a machine to someday make use of these long strings of binary numbers.​ In 1847, English mathematician George Boole introduced a newly devised algebraic language built on Leibnizs work. His â€Å"Boolean Algebra† was actually a system of logic, with mathematical equations used to represent statements in logic. Equally important was that it employed a binary approach in which the relationship between different mathematical quantities would be either true or false, 0 or 1.   As with Leibniz, there were no obvious applications for Boole’s algebra at the time, however, mathematician Charles Sanders Pierce spent decades expanding the system, and in 1886, determined that the calculations could be carried out with electrical switching circuits. As a result, Boolean logic would eventually become instrumental in the design of electronic computers. The Earliest Processors English mathematician Charles Babbage is credited with having assembled the first mechanical computers- at least technically speaking. His early 19th-century machines featured a way to input numbers, memory, and a processor, along with a way to output the results. Babbage called his initial attempt to build the world’s first computing machine the â€Å"difference engine.† The design called for a machine that calculated values and printed the results automatically onto a table. It was to be hand-cranked and would have weighed four tons. But Babbages baby was a costly endeavor. More than  £17,000 pounds sterling was spent on the difference engines early development. The project was eventually scrapped after the British government cut off Babbage’s funding in 1842. This forced Babbage to move on to another idea, an analytical engine, which was more ambitious in scope than its predecessor and was to be used for general-purpose computing rather than just arithmetic. While he was never able to follow through and build a working device, Babbage’s design featured essentially the same logical structure as electronic computers that would come into use in the 20th century. The analytical engine had integrated memory- a form of information storage found in all computers- that allows for branching, or the ability for a computer to execute a set of instructions that deviate from the default sequence order, as well as loops, which are sequences of instructions carried out repeatedly in succession.   Despite his failures to produce a fully functional computing machine, Babbage remained steadfastly undeterred in pursuing his ideas. Between 1847 and 1849, he drew up designs for a new and improved second version of his difference engine. This time, it calculated decimal numbers up to 30 digits long, performed calculations more quickly, and was simplified to require fewer parts. Still, the British government did not feel it was worth their investment. In the end, the most progress Babbage ever made on a prototype was completing one-seventh of his first design. During this early era of computing, there were a few notable achievements: The tide-predicting machine, invented by Scotch-Irish mathematician, physicist, and engineer Sir William Thomson in 1872, was considered the first modern analog computer.  Four years later, his older brother, James Thomson, came up with a concept for a computer that solved mathematical problems known as differential equations. He called his device an â€Å"integrating machine† and in later years, it would serve as the foundation for systems known as differential analyzers. In 1927, American scientist Vannevar Bush started development on the first machine to be named as such and published a description of his new invention in a scientific journal in 1931. Dawn of Modern Computers Up until the early 20th century, the evolution of computing was little more than scientists dabbling in the design of machines capable of efficiently performing various kinds of calculations for various purposes. It wasn’t until 1936 that a unified theory on what constitutes a general-purpose computer and how it should function was finally put forth. That year, English mathematician Alan Turing published a paper titled, On Computable Numbers, with an Application to the Entscheidungsproblem, which outlined how a theoretical device called a â€Å"Turing machine† could be used to carry out any conceivable mathematical computation by executing instructions. In theory, the machine would have limitless memory, read data, write results, and store a program of instructions. While Turing’s computer was an abstract concept, it was a German engineer named Konrad Zuse who would go on to build the world’s first programmable computer. His first attempt at developing an electronic computer, the Z1, was a binary-driven calculator that read instructions from punched 35-millimeter film. The technology was unreliable, however, so he followed it up with the Z2, a similar device that used electromechanical relay circuits. While an improvement, it was in assembling his third model that everything came together for Zuse. Unveiled in 1941, the Z3 was faster, more reliable, and better able to perform complicated calculations. The biggest difference in this third incarnation was that the instructions were stored on an external tape, thus allowing it to function as a fully operational program-controlled system.   What’s perhaps most remarkable is that Zuse did much of his work in isolation. Hed been unaware that the Z3 was Turing complete, or in other words, capable of solving any computable mathematical problem- at least in theory. Nor did he have any knowledge of similar projects underway around the same time in other parts of the world. Among the most notable of these was the IBM-funded Harvard Mark I, which debuted in 1944. Even more promising, though, was the development of electronic systems such as Great Britain’s 1943 computing prototype Colossus and the ENIAC, the first fully-operational electronic general-purpose computer that was put into service at the University of Pennsylvania in 1946. Out of the ENIAC project came the next big leap in computing technology. John Von Neumann, a Hungarian mathematician whod consulted on ENIAC project, would lay the groundwork for a stored program computer. Up to this point, computers operated on fixed programs and altering their function- for example, from performing calculations to word processing. This required the time-consuming process of having to manually rewire and restructure them. (It took several days to reprogram ENIAC.) Turing had proposed that ideally, having a program stored in the memory would allow the computer to modify itself at a much faster pace. Von Neumann was intrigued by the concept and in 1945 drafted a report that provided in detail a feasible architecture for stored program computing.  Ã‚  Ã‚   His published paper would be widely circulated among competing teams of researchers working on various computer designs. In 1948, a group in England introduced the Manchester Small-Scale Experimental Machine, the first computer to run a stored program based on the Von Neumann architecture. Nicknamed â€Å"Baby,† the Manchester Machine was an experimental computer that served as the predecessor to the Manchester Mark I. The EDVAC, the computer design for  which Von Neumann’s report was originally intended, wasn’t completed until 1949. Transitioning Toward Transistors The first modern computers were nothing like the commercial products used by consumers today. They were elaborate hulking contraptions that often took up the space of an entire room. They also sucked enormous amounts of energy and were notoriously buggy. And since these early computers ran on bulky vacuum tubes, scientists hoping to improve processing speeds would either have to find bigger rooms- or come up with an alternative. Fortunately, that much-needed breakthrough was already in the works. In 1947, a group of scientists at Bell Telephone Laboratories developed a new technology called point-contact transistors. Like vacuum tubes, transistors amplify electrical current and can be used as switches. More importantly, they were much smaller (about the size of an aspirin capsule), more reliable, and they used much less power overall. The co-inventors John Bardeen, Walter Brattain, and William Shockley would eventually be awarded the Nobel Prize in physics in 1956. While Bardeen and Brattain continued doing research work, Shockley moved to further develop and commercialize transistor technology. One of the first hires at his newly founded company was an electrical engineer named Robert Noyce, who eventually split off and formed his own firm, Fairchild Semiconductor, a division of Fairchild Camera and Instrument. At the time, Noyce was looking into ways to seamlessly combine the transistor and other components into one integrated circuit to eliminate the process in which they had to be pieced together by hand. Thinking along similar lines, Jack Kilby, an engineer at Texas Instruments, ended up filing a patent first. It was Noyce’s design, however, that would be widely adopted. Where integrated circuits had the most significant impact was in paving the way for the new era of personal computing. Over time, it opened up the possibility of running processes powered by millions of circuits- all on a microchip the size of a postage stamp. In essence, it’s what has enabled the  ubiquitous handheld gadgets we use every day, that are ironically, much more powerful than the earliest computers that took up entire rooms.

Primary Source Study Essay Example | Topics and Well Written Essays - 1500 words

Primary Source Study - Essay Example â€Å"The complete housewife or Accomplished Gentlewomen’s companion† is a cookery book written in eighteenth century by the author Eliza Smith. Originally published in 1727. It is not just a cook book from the history but also contains various medicinal prescriptions and home remedies handy in the case of any emergency and works as the first aid. The book was written clearly as its name indicate to provide assistance to the women of that time to improve their efficiency in cooking and making them competent and a complete gentlewomen because cooking was very essential and fundamental skill required by fine ladies of that time. Fixing a meal today is very simple these days but in colonial time’s it was an hours long affair until there was enough light to see in the kitchens and without any refrigeration all meals have to be cooked and seasoned in the same day(Heyes,2009) Eliza tried to show her confidence in cooking and food and every ones attitudes towards it in this book which is considered as the first cook book to be published in America. It contains collection of several hundred receipts of pastries, confectionaries, pickles, preserving meat, cakes, jellies, wines added with hundred of receipts of home remedies for minor ailments including syrups, ointments, elixirs etc. Through the book Eliza conveyed her own lives experience and knowledge to the other women of the society. Women are known to reveal their life’s stories through their receipes of food cleaning or medicinal remedies; it is the way of their communication. cMrs. Smith worked as a cook in upper class household and that is why she knew a lot about cooking and serving. She also criticized the male cook book writers and claimed that they hold their recepies secret from the rest of the public and stressed upon her female audience her past experiences in that regard.d In contrast to other cook book writers her work is much more competent unlike other amateurish writers wh ose work fail to show citations to quoted information (Allen,1999) .As it is considered as the first cook books it

Diversity Interview Essay Example | Topics and Well Written Essays - 1250 words

Diversity Interview - Essay Example As a function of seeking to understand diversity in a more effective manner, the following analysis will discuss and provide a narrative account and analysis of an interview which was conducted with the owner and director of a US-based financial services and planning group. In such a way, it is the hope of this author that after reading and integrating with the information that has been put forward within this analysis, the reader will be able to come to a more informed and actionable level of understanding regards to the role and overall level of importance that diversity plays status that a given business entity might experience. Further, due to the fact that it is the express goal of this particular student to ultimately directs the company of my own, the analysis will include with an introspective look at the means by which information presented help to formulate a better understanding of diversity and have over regards to my own professional development. Cheryl Holland, develope r/owner/CEO of Abacus Planning Group LLC, located in Columbia, South Carolina, began as a financial planner for Merrill Lynch. Although ultimately satisfied with her career at Merrill Lynch, like so many other entrepreneurs, Holland had a desire to start a firm of her own. Realizing that financial services could best be integrated on a personal level and were entirely and completely ineffective when integrated by at a multinational banking Corporation, Holland set out to create just such a financial planning service. Comprising only for employees at the beginning, the firm undertook and asymmetrical level of marketing which relied solely upon word-of-mouth as a means of generating new clients. However, of particular interest to this analysis is the means of overall diversity and the importance that Holland placed on this diversity even in the early stages of business development. The reason that this level of emphasis upon diversity is something of a shock is due to the fact that Ho lland, educated in upstate Pennsylvania was operating a firm in the deep South. As such, the overall level of cultural diversity that existed within the society at large, let alone the labor force, was extraordinarily limited (Simms, 2013). However, realizing that this was an impediment to achieving a degree of diversity and by extension overall success, Holland sought to maximize the diversity that her start up reflected by hiring a Mexican-American client services representative, a Ukrainian financial advisor, and a female IT professional. Ultimately, the next section of this analysis will seek to measure the importance that diversity plays and played within Abacus Planning Group as Cheryl Holland chose strategies that sought to maximize it. Firstly, when asked regarding what specific cultural background she had and how this impacted upon the level of diversity within Abacus, Holland noted that she was raised in a white middle class family that had little if any interaction with o ther racial or cultural groups. However, once she left to attend Brenmore College in upstate Pennsylvania, she came to see the overall positive impacts that cultural diversity could have. More specifically, when asked concerning her personal views with regards to diversity, Holland noted that increasing diversity is not only the ethically correct step to take, it maximizes efficiency. Due to the fact that

High renaissance Essay Example for Free

High renaissance Essay This is the period in the art history which connotes the culmination of the art of the early renaissance between 1480 and 1527. It was one of the greatest outbursts of creativity in the art history. It has been described as the period in which there were convergences of wealth of talents concentrating in the same area. The early renaissance focused on the artists in Florence, but the high renaissance centered on the artists in Rome due to increased patronage by the then pope Julius 11. During this period, these artists possess their tools and facilities which make their works better than what has been done before. The high renaissance came to an end after about 40 years of existence when Raphael: one of the prominent artists, died in 1520, coupled with the sack of Rome in 1527. Three of the greatest ever artists were credited for this period in history. They were called the big three; they are Leonard da Vinci, Rapheal Sanzio, and Michelangelo Buonarroti Artist that contributed to high renaissance 1] Leonard da Vinci; his painting titled the last supper (1490) was said to have started the high renaissance . He lived between 1452 and 1519. His work Vitruvian Man was also part of his contribution during this time. 2] Michelangelo Buonarroti; he lived between 1475 and 1564. His painting in the Vatican and the painting title Delphia Sibyl created much impart during this period. He also did The Creation of Adam during this period. 3] Raphael Sanzio; his painting which is also in the Vatican and the painting titled ‘Saint George struggling with the dragon’ made him an exceptional artist during this time. He lived between 1483 and 1520. 4] Fra Bartolommeo; his painting which he did in 1515 title ‘Annunciation with the Saint’ make him well known. He lived between 1472 and 1517. 5] Marcantonio Raimondi; he lived between 1475 and 1534, his work the ‘Judgment of Paris made him exceptionally good during this time. REFERENCE: The High Renaissance; http://www. artcyclopedia. com/history/high-renaissance. html Shelley Esaak (2008) The High Renaissance in Italy http://arthistory. about. com/cs/arthistory10one/a/high_

My Teaching Philosophy :: Philosophy of Teaching Education Teachers Essays

My Teaching Philosophy As defined by Webster, to educate is "to supervise mental or moral growth." But when one gets to the core of the word it is more important to society. Without education, society as a whole would gradually fall apart. My goal in life is to relay knowledge to my students to help them become productive citizens. Several philosophers have laid paths, or guidelines, for producing these citizens. One in particular stands out in my eyes. Rousseau. Rousseau and I both agree that the majority of people have the same intelligence. The difference is work ethic and the ability of an effective teacher to teach material to students. In my work with children I have learned very important lessons about patience, trust, and communication. I believe these to be necessary teaching skills. Because of this, I believe I now know the most efficient way to approach and reach a child. Rousseau believed that the school environment should be an environment where students learn to respect themselves and respect others. The knowledge taught should allow students to think and act independently. I want to arm my students with this ability. A second aspect is the students should find out who they really are and improve upon themselves however they deem necessary, If knowledge wasn't passed down and mastered, our society would spiral downward. That's why I have chosen teaching as my proud profession. Through this profession I hope to teach my students to enjoy not only life in general, but also make sure they take full advantage of each and every opportunity that comes their way. I want to reach kids, to let them know that I'm not just a teacher, but a friend as well. Too many teachers have fallen out of touch with hoe to relate to students. I refuse to teach lessons only about the classroom, I will teach them lessons about life as well. When I look back now at what life has taught me, 90 percent of these things my parents tried to beat into my head. The experiences that life teaches us can be passed on as easily as addition or anatomy.

How significant was Martin Luther King’s contribution to the civil rights movement in the years 1956-68? Essay

There is no doubt that MLK shaped the way people campaigned for black civil rights in America during these years however weather that was significant to any head way they did make, one example of his significance is the amount of peaceful protest that was carried out, now that MLK was promoting peaceful protests more people could participate in campaigning for what they believed, this made the supporters for the civil right movement far greater in numbers than ever before and opposing people found it harder and harder to suppress any action they may take. The Montgomery Bus Boycott is a perfect example of a peaceful protest headed by MLK this was because this was the first real push for blacks to be more equal to whites and so they could be treated as people, the boycott would also not have succeeded if it weren’t for MLK as he provided structure and inspiration for everyone taking part. This is significant because it gathered more supporters for the movement and gave them more influence when it came to changing things. Another reason that MLK was significant was he branched out the campaign from the south to the north and west which were places which may not have been as bad and public about it but were still very racist and discriminative towards blacks, this is significant because it helped a lot more blacks join in with the campaign and help support in numbers, it also made the pressure on the government larger as there were more and more supporters for the campaign and more and more people (not just blacks) who could influence decisions. MLK had a special gift of being able to create moving and inspiring speeches, this highlights his significance because it was him that was the face of the campaign and with his inspiring speeches he created more and more support for the campaign but most importantly more white sympathisers as they had a lot more power and influence. One other thing that highlights MLK’s significance to the civil rights movement was his death. This was significant because of all the people who looked up to MLK and viewed him as an idol and inspiration now had no one to lead them, this led to confusion and left people not knowing what they should do and who to follow however people also took his assassination as the point where they stand up and really fight for what they believe in. MLK didn’t always pull of these miracles and get more support and get blacks closer to their goal as there have been a lot of examples where MLK didn’t help or he did and didn’t succeed: one example is where he tried to take the fight north  and thought that the struggle in the south would pay dividends however when he left Chicago and left Jesse Jackson in charge people criticized him for not finishing what he started and left people loosing respect for MLK and the civil right movement. Another example of MLK not being a help and sometimes more of a hindrance to the progress of the black civil rights movement was when he agreed to be part of the Montgomery bus boycott and when he agreed to stay in jail, on both of these occasions MLK left and in turn left people doubting his word and judgement. Another example is the Meredith march, MLK did not set out to go to the march until after James Meredith had been shot, this gave people the impression that king only showed up because someone was hurt and not to support the cause even though it was a gesture of good will from MLK. MLK also helped out in the freedom summer in 1964 and the brown vs. board case, sit ins that took place all over America, Freedom rides and Violence in Montgomery. In conclusion I think that it would be incorrect to say that MLK was insignificant to the civil rights movement in these years however he cannot be held solely responsible for the success they had as he always had to have the support of thousands of protesters, people in some sort of power and sympathetic whites. MLK also acted as a martyr and his death inspired thousand. Also other organisations did a very good job of recruiting people and getting support. That is why I would consider him one of the key factors along with other organisations and the people that turned up to rallies and did the dirty work.

Banjamin Banneker Analysis

Benjamin Banneker Analysis At the turn of the 18th century, forces secreted by British colonization imposed an evident state of corruption in the United States, leaving an indelible scar upon our nation. Thomas Jefferson, who proclaimed his advocacy toward equality, seemed to stray from the intent of abolishing inequality between man. Benjamin Banneker, who validates his intellect through his evident knowledge of Jefferson’s motives, dedicates a letter in regards to questioning Thomas Jefferson’s role as Secretary of State, in a dire attempt to uphold justice in the name of his father, who suffered a life as a slave.As the letter unfolds, the author implements a critical use of rhetorical strategies that inflict a sensation of guilt upon Jefferson, portraying him as an immoral man, due to his lack of attention to civil rights. As Banneker’s letter unfolds, his selection of detail allows him to remind Jefferson of his prior imprisonment by cleverly referring to th e British Colonization of America, as â€Å"tyranny of the British Crown† (Line 2), emphasizing their imperialistic ideals.In paragraph 2, the author’s intellect of Jefferson’s proclaimed motives is evidently demonstrated as he cites his infamous passage from the Declaration of Independence, â€Å"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their creator with certain inalienable rights, that among these are life, liberty, and the pursuit of happiness. † (Lines 21-25) By deliberately addressing Jefferson’s own beliefs, Banneker is able to successfully inflict guilt upon Jefferson, forcing him to realize his personal immorality.As evidenced by the essay, Banneker repeatedly utilizes the term â€Å"sir† in each paragraph when addressing Jefferson. Banneker’s intention revolves around establishing a distinct sensation of ethical appeal, and accurately demonstrates Banneker’s res pect for Jefferson, despite his inner resentment. By referring to Thomas Jefferson as â€Å"sir†, Banneker decreases the harshness of his delivery, thus preventing Jefferson from deeming his proposal as immature, and actually acknowledging his claim.His strategy not only portrays him as a respectful man, but allows for smooth communication. Emotional appeal, a primary strategy instilled throughout Banneker’s notation, is first utilized in paragraph 1, in an attempt to exert guilt and eerie memories from Jefferson’s past. The author finalizes paragraph 1 by implying Thomas Jefferson’s ungratefulness to his liberation from England by stating that Thomas Jefferson is lucky to have been set free, as opposed to the circumstance several Americans are dealt.In paragraph 3, the use of Pathos is depicted when he accuses Jefferson of being merciless toward slaves, despite his downfall in his previous years. He not only blames Jefferson for the detainment of these v ulnerable and innocent slaves, but also points out his ideals and deems him as â€Å"pitiable†. (Line 30) In a fierce attempt to validate his claim concerning Jefferson’s act of fraud, Banneker uses a unique form of paradox, represented in the third paragraph of his letter.Although Thomas Jefferson was generally portrayed as a sane man, the author utilizes loaded words in order to properly depict Jefferson’s form of hypocrisy. Likewise, he initiates his argument by reciting the basic morals that Jefferson lives to defend, such as equality and advocacy against impartial distribution of rights. Moreover, the recognition is reverted, placing the blame on the issue of slavery toward the Secretary of State. The author demonstrates a steadfast tenacity toward proving Jefferson immoral, and accuses him of being a criminal. †¦that you should at the same time counteract his mercies in detaining by fraud and violence†¦my brethren under groaning captivity†¦y ou should at the same time be found guilty of that most criminal act†¦Ã¢â‚¬  (Lines 36-39) Jefferson’s reaction is expected to be in awe and particularly remorseful, as Banneker successfully proves Jefferson of being unlawful. Benjamin Banneker, a prodigy in astronomy, mathematics, surveys, and above all – rhetoric, instills his resentment toward Thomas Jefferson’s ignorance to the enslaved African American population.Maintaining the sole purpose of bringing justice to his father and prisoner’s pasts, Banneker utilizes strategic rhetorical strategies that are ultimately notes in order to spark action in the nation’s dwindling society. His letter is utilized not only to represent Banneker’s true opinion of Jefferson, but deliberately writes a respectful letter to Jefferson in the hopes of allowing Jefferson to acknowledge his faults. The author successfully delivers his proposal, instilling hope in our nation that change is, in fact, a possibility.

Tribalism in Iraq Essays

Tribalism in Iraq Essays Tribalism in Iraq Essay Tribalism in Iraq Essay Read the following article â€Å"Tribalism is the real enemy in Iraq† Answer the following questions 1. The author argues that Islam is not the real foe in the war in iraq. Who does he say is? The author argues that Islam is not the real barrier between the Western forces and the people of Iraq, but merely our differences in values and daily life, with the center of our differing ideologies being tribalism. 2. What does the author identify as the major differences between East and West? The author identifies the differences between East and West being our inherent basic ideologies. He describes Iraqi ideology as being post apocalyptic. 3. What are the five main attributes of tribalism as the author says sociology has taught us? Explain each. The tribe needs a boss. The tribe needs a leader to direct its people. The tribe is a warrior; its foundation is warrior pride. These are people who see themselves as knights of the Islamic crusade. The demand the respect of their people. The tribe respects power. The tribe respects those who display their might, not those who cower behind treaties and passive communication. You cant sell freedom to tribesmen any more than you can sell democracy. He doesnt want it. It violates his code. It threatens everything he stands for. They believe that the land IS theirs, and that is was given to them by god. The tribe has no honor except within its own sphere, deriving justice for its own people. Its code is Us versus Them. The outsider is a gentile, an infidel, a devil. If you came from the outside, you will never assimilate. 4. What then, from the author’s perspective, is the solution to this distinctively different approach to social organization between the East and the West? Do you agree? Explain. Though I believe he has a great point about our basic ideologies being different and Iraq in need of strong leader (or preferably a Stalin-esque dictator), he seems to be making almost archaic generalizations about the Iraqi people. Being a Caucasian Canadian living in the region I know how different they are from westerners like me, but I can tell you that the Iraqi people care nothing of tribes, leaders and marrying daughter,   and more about getting their water turned back on and feeling safe in their own homes. More than anything though, these people resent that we came in the first place. They may have had a dictator with secret police, but it was not taken out on the majority of citizens. Their standard of living is set to improve after the public development of their oil, but there is a long way to go before the bottom starts seeing any of that. Cite all your sources.

How to Conjugate Influencer (to Influence) in French

How to Conjugate Influencer (to Influence) in French As you might suspect, the French verb  influencer  means to influence. Yet, when you want to say influenced in the past tense or influencing in the present tense, youll need to know how to conjugate the verb. A quick lesson will introduce you to the most important conjugations youll need. The Basic Conjugations of  Influencer French verb conjugations are not the easiest lessons and some are more challenging than others. Influencer is a spelling change verb and that may sound scary at first, but its not bad and theres a good reason for it. The spelling change affects the  c  at the end of the verb stem  influenc-. Typically, when that letter is followed by the vowels  a  or  o, the sound is hard as in cat. To retain the soft  c  sound in the conjugations with endings that begin with these vowels, the  c  changes to a  Ãƒ §. Other than that minor difference in some verb forms,  influencer  is conjugated like a  regular -er  verb. Using the chart, you can study these conjugations by pairing the subject pronoun with the present, future, and imperfect past tenses. As an example,  jinfluence  means I am influencing and  nous influencions  means we influenced. Present Future Imperfect j' influence influencerai influenà §ais tu influences influenceras influenà §ais il influence influencera influenà §ait nous influenà §ons influencerons influencions vous influencez influencerez influenciez ils influencent influenceront influenà §aient The Present Participle of  Influencer Due to the -ant  ending used to form the  present participle  of  influencer, the spelling change is required here as well. That gives us the word  influenà §ant. Influencer  in the Compound Past Tense Passà © composà ©Ã‚  is another way to say influenced in French. This compound past tense requires the  past participle  influencà ©Ã‚  and an auxiliary verb. To form this, conjugate  avoir  into the present tense for the subject, then add  influencà ©. This leaves us with phrases such as  jai influencà ©Ã‚  (I influenced) and  nous avons influencà ©Ã‚  (we influenced). More Simple Conjugations of  Influencer Among the other simple conjugations, you may need for  influencer  are  the subjunctive  and  the conditional. Both give the act of influencing some uncertainty, though the conditional says it will only happen under certain conditions. If you read or write much French, you will likely encounter  the passà © simple  and  the imperfect subjunctive. These are literary tenses and used frequently in formal French writing. Subjunctive Conditional Passà © Simple Imperfect Subjunctive j' influence influencerais influenà §ai influenà §asse tu influences influencerais influenà §as influenà §asses il influence influencerait influenà §a influenà §Ãƒ ¢t nous influencions influencerions influenà §Ãƒ ¢mes influenà §assions vous influenciez influenceriez influenà §Ãƒ ¢tes influenà §assiez ils influencent influenceraient influencà ¨rent influenà §assent It is possible that you will find some uses for  influencer  in  the French imperative.  When you do use it, all formality is dropped and you can skip the subject pronoun. Imperative (tu) influence (nous) influenà §ons (vous) influencez

Research and Evaluation in Social Work Essay Example | Topics and Well Written Essays - 1750 words

Research and Evaluation in Social Work - Essay Example Further, being able to inform policy by way of their study would increase the researcher's credibility, and make it more likely for the universities and health centres in which they work to have access to funding, as graduate students would be able to work on research projects, and government and private institutions could contract the researchers for more studies. The researchers appear to have designed an objective study in that; a thorough and up-to-date literature review was presented that identified current gaps in knowledge; a cross-sectional survey allowed for sampling of the diversity of organizations providing services to older people; snowball sampling allowed for access to organisations that may have been otherwise neglected, because of their size or their lack of exposure; a selection criteria provides a set of parameters that characterize the sample for future study comparisons; conclusions were drawn based on the data collected from the survey; and the final thesis was submitted for peer-review to be able to be published in a reputable journal. Overall, it was an empirical study, designed and carried out in a systematic manner, with evidence-based conclusion drawn. The Abstract succinctly and parsimoniously reported the main points of the research, summarizing the goal of the project, identifying the population, noting the research methods used, and mentioning the conclusions and implications. However, the abstract did not state the hypothesis of the study and whether it was supported or not. The rationale of the study was clear in its statement: A wide range of community based services and activities have evolved to combat the 'negative' experiences of social isolation and loneliness in later life. The appropriateness and accessibility of most interventions intended to alleviate social isolation and loneliness among older people, however, have remained unclear (p. 150). Also, the research questions were presented in dot point format, which made most of them clear and to the point. However, one goal, 'Explore the involvement of older people in the planning process,' was ambiguous in that it did not state clearly that the exploration would not make use of older person opinions, only those of the organisations servicing older people. All of the research questions were worthy of being answered, as availability of, and access to, social orientated activities is essential to the mental and physical health of older people. However, given that older people were not included in the sample, as a comparison group, it is questionable whether all of the research questions were comprehensively answered.The literature review was adequate in that it included up-to-date research for the UK, and identified gaps in knowledge. The theories drawn on also raised some interesting points, such as many older people do not perceive themselves to be lonely (c.f., Townsend, 1 957; Tornstam, 1995; Victor et al. 2005), despite continuous evidence that experiences of loneliness increase with age (authors,). The relationship between aging and loneliness has been suggested to be the result of changes in living circumstances, such as the loss of a partner, or moving to a nursing home, and changes to subjective health (c.f., Tijhuis et al. 1999). It appears that more research into social support could be the

Case study Essay Example | Topics and Well Written Essays - 1000 words - 43

Case study - Essay Example Companies that opt for such media for adverts may be affected (Hanlon, 2015). The advancement in the use of internet has led to the existence of pricing options of products from companies. The use of online platform through internet provision is gradually and rapidly transforming economic aspects of operations of companies. HMV should apply both the physical stores and online platform to maximize it sales in the entertainment industry whose economy has been steadily rising (Hanlon, 2015). The HMV management should have a comprehension of the socially accepted practices within the various cultures that are available online in attempting to market their products. This includes appreciating the dynamics and differences and beliefs of societies within its online market since obtaining this is easier than before. It has the potential of not only creating opportunities but also opening new markets for the company (Hanlon, 2015). The company has a technological leverage in their internet site for retail which makes them competitive with other players/industries in the market. Its online store will likely be versatile as it will enable integration of window media player, iTunes, et cetera. In addition, infiltrating into the digital market is an innovative way of growing with the demand of the consumers. HMV anticipates enhancing their competitive leverage by diversifying experiences in the entertainment over the contemporary rivals. The group of HMV has a joint venture with companies such as Curzon Artificial Eye for the purpose of bring the experience of cinema to the retail outlets of the company (HMV, 2015). The production of DVDs and CDs should entail the use of materials that are both non-biodegradable and non-renewable. The recycling process has proved to be not only complex and costly but also inefficient. Moreover, CDs and DVDs with high storage

The Efficacy of non-invasive ventilation in the acute exacerbation of Research Paper

The Efficacy of non-invasive ventilation in the acute exacerbation of COPD Patient - Research Paper Example Chronic Obstructive Pulmonary Disease best known as COPD, is actually a group of lung diseases that together block airflow to the lungs making it hard to breathe. The two most common diseases that constitute this disease are chronic bronchitis, inflammation of the bronchial tract mucosal lining, and emphysema, gradual destruction of the alveoli at the end of the bronchioles (Huang and Ghio et al., 2012). These may also be accompanied by asthma. Chronic bronchitis causes coughing and sputum production, which may scar and damage the airways. Alveoli damage by emphysema reduce oxygen uptake thus causing breathing problems for the patient. The combination of the destruction these two diseases cause irreversible damage to the pulmonary system, but the good thing is that there is treatment available that can help reduce the symptoms of the disease. One of them is through non invasive ventilation, otherwise known as NIV in short. This paper will be looking at this form of therapy and its ef ficiency in the treatment of COPD. It will discuss its use and advantages it the clinical setting. Being a pulmonary disease, its symptoms are generally ignored or just taken in passing for something else. COPD can cause breathlessness/dyspnea, coughing, excessive production of mucus/phlegm and fatigue. Some of these symptoms, breathlessness and fatigue, are hard to point out or see because they are sensations that are experienced by the patient and do not manifest physically (Barnes, 2009). Only the person experiencing the symptom can describe them and talk about how badly they make them feel as opposed to the production of sputum and coughing which manifest physically. Unfortunately, once these symptoms, among others begin to manifest the patient may discard them as simply smoker’s cough or fatigue from being unfit. These are to be considered as signs

Relationship Between Savings and Inflation

Relationship Between Savings and Inflation Savings help cushion the business cycle as the economy faces hard economic situations (Syden, 2014). To have a sustainable economic growth, there is a need for sustainable resources to support it. That is why savings are needed to finance capital spending. These high savings rate levels have allowed the economy to gain high levels of investment (Horioka Terada-Hagiwara, 2011). China’s domestic savings rate is one of the highest in the world (Loayza, Schmidt-Hebbel, Serven, 2000). Inadequate savings would leave the economy vulnerable to shocks in income uncertainty and unexpected rise in prices. At 52% of the national GDP, China’s domestic savings rate is among the highest in emerging markets inadequate savings leave households vulnerable to shocks in income and rising prices, add burden to government in providing retirement assistance, constrain individuals in accumulating wealth inadequate savings leave households vulnerable to shocks in income and rising prices, add burden to government in providing retirement assistance, constrain individuals in accumulating wealth. Many factors come into play with regard to how much to spend and how much to ‘keep’ for future spending. REVIEW LITERATURE There have been a lot of theoretical and empricical research studies about the relationship of savings on different factors like inflation rate, unemployment rate, and interest rate. It has been argued that savings are important, and when the economy is hit hard, having money in the bank can ease the problem (Elmerraji, 2010). Saving rates around the world differs widely. (Loayza, Schmidt-Hebbel, Serven, 2000) stated that China, world’s fastest growing economy, had one of the largest national saving rates in the world. Those at Sub-Saharan Africa save less than 15% of their gross national disposable income while East Asia saves more than 30%. In recent years, saving rates have doubled in East Asia while those in Latin America were stagnated. What people do not spend after consuming part of their income is called personal savings. People tend to put their savings on bank accounts or partly invested (Piana, 2003). Given a certain income, the decision of consuming a good negatively affects savings. Postponing such consumption would increase savings and in contrast, savings can rise due to negative expectations for future income. As economic shocks occur on business cycles, households experience hard time in unexpected reduction in income. According to the Life-cycle hypothesis by Milton Freidman, people would eventually save more and minimize consumption to avoid future uncertainty. (Zaman, Carannate, Ferra, 2013) In times of economic crisis like the recent financial crisis on 2008, policy measures and uncertainty affects household consumption and saving decisions. In the Spanish economy, after the great recession, there has been an evolution of saving rates (Bande Riveiro, 2012). The behavior of households has changed after the great recession, through increasing saving rates. Large increase in savings rates is connected to the increased uncertainty in the future (Bande Riveiro, 2012). EMPLOYMENT Macroeconomic instability which is measured by inflation, causes an upward trend in saving. The season of high inflation and high unemployment, as well as cutting public benefits have raised income uncertainty and changed the expected future income of the economy (Chowdhurry, 2014). When an economy has a crisis, it leads to unemployment, and the risk of future uncertainty in income makes households save more (Zaman, Carannate, Ferra, 2013). When part of the households are affected with future uncertainty of income, it stimulates to low demand and consumption which would worsen the economic situation of the country. Financial crisis happens when labor market is distorted with high unemployment, changing households’ structure of saving portfolio. Any sort of financial crisis leading to a recession would have a significant effect on household savings. ECONOMIC GROWTH Growth models includes Harrod (1939), Domar (1946) states that economic growth is highly dependent on level of savings and output ration. These models indicate that increase in saving means high investment which stimulates economic growth. The availability of funds for investment increases as effect of having higher savings (Sothan, 2014). The higher the level of saving rate leads to increased capital stock that in progress leads to a high level of output. Business Cycle Different economies go through different patterns of ups and downs in the value of its Gross Domestic Product (Riley, 2012). This business cycle has four phases namely boom, recession, depression, and recovery. Economic boom has high consumer spending, profits, and investment. Unemployment tends to be low in this economic situation. Economic Recession has low level of consumer spending, income, and investment, and has a rising unemployment as businesses cut costs. Economic depression is when there is a declining GDP, showing weak level of consumer spending and investment, rapid rise of unemployment and prices starting to fall. Economic recovery is when economic situation starts to get better and consumers begin to increase spending and investment. Every country’s goal is for an economy to achieve a sustainable level of growth (Riley, 2012). Trend growth rate is what helps assess and compare the growth of the different economies. (Lequiller Blades, 2007) REVIEW OF RELATED LITERATURE EFFECT OF INFLATION ON SAVINGS RATE Almost all the past literatures that were found concerning the relationship of the variables inflation rate and savings rate concluded that the relationship between the two are positive and significant. In a cross-sectional data on inflation rates and savings rates of various countries in the world, both developed and developing, the results obtained in the recent study showed that inflation rates of all the countries positively impacts each of the countries’ savings rate (Cheng Li, 2014). El-Seoud (2014) conducted a study on the effect of Gross Domestic Product, interest rate, and inflation rate on the national saving rate in the kingdom of Bahrain over the past 20 years. The researcher found that inflation rate has a positive relationship and significant impact on Bahrain’s saving rate in both the long run and short run. Similarly, Syden (2014) also found that in their study of South Africa’s 48 years of household savings data, inflation significantly creates a positive impact on the continent’s saving rate. As for the case of Turkey, Er, Tugcu, Coban (2014) used the Autoregressive Distributed Lag approach and the study’s results indicated that there that inflation positively affects inflation rate and savings but there was no relationship of significance between inflation and savings in the short run. Using two stage least squares model, the study of Chaturvedi, Kumar Dholakia (2009) on the relationship between economic growth, inflation, and saving rate in Asia revealed that inflation rate has a positive effect on the interest rates of the Asian countries as well. On the other hand, Heer Suessmuth (2006) utilized data of the inflation and saving rates from United States postwar period in order to analyze the monetary policy regimes of the three eras, namely the Pre-Volcker Era (’65-’78), Volcker Era (’79-’87), and the Greenspan Era (’88-’98). There appeared to be ambiguous resu lts on the effect of inflation on the saving rates. In the Pre-Volcker Era and Greenspan Era, inflation negatively affected the saving rates. In the Volcker Era, on the other hand, inflation is positively associated with saving rates (Heer Suessmuth, 2006). EFFECT OF INTEREST RATE ON SAVINGS RATE El-Seoud (2014) concluded from his previously mentioned study that the interest rate in Bahrain, just like inflation, has a positive and significant effect on the national saving rate in the short run. However, in the long run, El-Seoud (2014) saw that while the interest rate still has a positive relationship on Bahrain’s saving rate, this effect is now insignificant. On the other hand, in the results acquired from the study of Syden (2014) on South Africa, it showed that interest rate has a negative relationship and significantly impacts the saving behavior of South Africa. In a study on the Turkish economy, the researchers found that there was no significant relationship between interest rates and saving rate found in the long run (Er, Tugcu Coban, 2014). (Challe Ragot) (Romer) References El-Seoud, M. S. (2014). The Effect of Interest Rate, Inflation Rate And GDP On National Savings Rate. Retrieved from http://www.gifre.org/admin/papers/gjcmp/1-7-EFFECT-vol-3-3-gjcmp.pdf Syden, M. (2014). Trends and Determinants of Household Saving in South Africa. Economic Affairs: 59(2): 191-208 Cheng, Q. Li, X. (2014). Cross-Country Effects of Inflation on National Savings. Retrieved from https://smartech.gatech.edu/bitstream/handle/1853/52867/Cross-Country Effects of Inflation on National Savings(ECON3161).pdf Chaturvedi, V., Kumar, B. Dholakia, R. H. (2009). Inter-Relationship between Economic Growth, Savings and Inflation in Asia. Journal of International Economic Studies, No.23, 1–22. Retrieved from http://repo.lib.hosei.ac.jp/bitstream/10114/3628/1/23VaibhavChaturvedi-ather.pdf Heer, B. Suessmuth, B. (2006). The Savings-Inflation Puzzle. Retrieved from http://www.cesifo-group.de/pls/guestci/download/CESifo Working Papers 2006/CESifo Working Papers January 2006/cesifo1_wp1645.pdf Er, P. H., Tugcu, C. T. Coban O. (2014). Investigating The Link between Savings, Inflation and Economic Growth: An ARDL Analysis for The Case of Turkey. Journal of Economics, Finance and Accounting. Vol. 1, Issue 2. Wachtel, P. (1977). Inflation, Uncertainty, and Saving Behavior since the Mid-1950s. Retrieved from http://www.nber.org/chapters/c9102.pdf Bibliography Bande, R., Riveiro, D. (2012, October). Private Saving Rates and Macroeconomic Uncertainty: Evidence from Spanish Regional Data. Iberian Regional Economics Network. Retrieved March 2015, from http://otega.usc.es/docs_idega/documentos_de_traballo/irene/irene_4.pdf Challe, E., Ragot, X. (n.d.). Precautionary Saving over the Business Cycle. Retrieved March 2015, from http://www.su.se/polopoly_fs/1.57517.1321520817!/ChalleRagot.pdf Chowdhurry, A. (2014, December). Terms of Trade shocks and Private Savings in the developing Countries. Journal of Comparative Economics. Retrieved March 2015, from http://dx.doi.org/10.1016/j.jce.2015.02.006 Elmerraji, J. (2010, February 28). How Savings Are Saving the Economy. Retrieved February 2015, from http://www.investopedia.com/financial-edge/0310/savings-are-a-blessing-in-a-slow-recovery.aspx Horioka, C. Y., Terada-Hagiwara, A. (2011, November). The Determinants and Long-Term Projections of Saving Ratesin Developing Asia. National Bureau of Economic Research. Retrieved from http://www.nber.org/papers/w17581 Lequiller, F., Blades, D. (2007). Understanding National Accounts. 415. doi:10.1787/9789264027657-en Loayza, N., Schmidt-Hebbel, K., Serven, L. (2000). Saving in Developing Countries: An Overview. The World Bank Economic Review, 14, 393-414. Piana, V. (2003). Savings. Economics Web Institute. Retrieved February 2015, from http://www.economicswebinstitute.org/glossary/savings.htm Riley, J. (2012, September). Economic Environment. Retrieved March http://www.tutor2u.net/business/strategy/economy-business-cycle.html, 2015 Romer, C. (n.d.). Business Cycles. The Concise Encyclopedia of Economics. Retrieved March 2015, from http://www.econlib.org/library/Enc1/BusinessCycles.html Sothan, S. (2014). Causal Relationship between Domestic Saving and Economic Growth: Evidence from Cambodia. International Journal of Economics and Finance, 6. doi:10.5539/ijef.v6n9p213 Syden, M. (2014, June). Trends and Determinants of Household Saving in South Africa. Economic Affairs. doi:10.5958/J.0976-4666.59.2.018 Zaman, R., Carannate, M., Ferra, E. (2013, June 17). Effects of Uncertainty on Household Saving Rate. Munich Personal RePEc Archive. Retrieved March 2015, from http://mpra.ub.uni-muenchen.de/51208/

Life Of Fredrick Douglass :: essays research papers fc

Breaking the Shackles   Ã‚  Ã‚  Ã‚  Ã‚   If there is a theme that has been present in writings since the beginning of time, it is discrimination. Since the creation of man, discrimination has been a problem in society. The theme of discrimination is illustrated through the novel, Narrative of the Life of Frederick Douglass; the essay, “Indian Civilization Vs. White Civilization;'; and the speech, “I Have a Dream.'; The theme of discrimination is clearly present in Frederick Douglass’ Narrative of the Life of Frederick Douglass. Frederick Douglass was born in Tuckahoe, Maryland around 1818. He had no accurate knowledge of his age. Douglass was born to a black mother and a white father, who he believed was his master (Douglass 19). By secretly studying books, Douglass learned to read a crime punishable by death. He escaped slavery when he was barely an adult and wrote the story of his life and how discrimination affected it. Not only is discrimination the theme of Douglass’ novel, it is also the cause of his horrible condition. In his autobiography he claims he “was made to drink the bitterest dregs of slavery'; (73). Throughout the novel Douglass never encounters a slave who is not black. “Why am I a slave,'; Douglass asks (Douglass 73). This is surely a question asked by every victim of prejudice. Another piece that illustrates discrimination is Joseph Brant’s, “Indian Civilization Vs. White Civilization.'; Joseph Brant was born in 1742 and died in 1807 (Barnett et al. 938). Brant, or Thayendanega, was educated at Wheelock’s Indian school in Connecticut. He served the British in the French and Indian war and the American Revolution. Being a Mohawk Chief, Brant was subject to much racially motivated discrimination. Discrimination, though most author would like you to believe otherwise, is never one sided. “ Indian Civilization Vs. White Civilization,'; looks at the reactions of those victimized by racial discrimination. Joseph Brant initially takes a defensive stand, but quickly turns to criticism of white society. In this piece Brant is “obliged to give [his] opinion in favor of [his] own people.'; (Brant 939). He describes the white people’s judicial system a pompous parade'; (Brant 939). In conclusion of this piece Brant never overcomes his bitterness for white people and their actions calling them “tenfold more the children of cruelty'; (Brant 939). In addition to this essay, Martin Luther King Jr.’s speech , “ I Have a Dream'; also contains the theme of discrimination.

Comerica Case Study Essay

The purpose of this paper is to recommend Jack to long the Comerica Incorporated (CMA) stock. In this paper we explain how banks operate and present a small back ground on the issue Comerica is facing. Then we more on to financial statements analysis of CMA, which does not present a very strong outlook of the company, but because of the financial crisis, whole industry is experiencing financial stress. Next, our valuation methods show that CMA is undervalued relative to its peers, and hence is a good company to invest in. BACKGROUND: Simply putting, banks accept deposits from public; keep some of those deposits with them and lend the rest to businesses and individuals. Businesses and individuals in turn pay interest on those loans and banks pay interest to depositors, making money from the spread. Nowadays banks operations have become more and more complicated, and hence more important to capital markets. To get in to more detail, banks’ profits come from the following several ways: Differences between Interest Rates on Loans and Deposits: As already explained Banks lend loans at the interest rates that are higher than the ones they pay for deposits. A large part of banks’ profits come from the spread between banks’ depositing and lending rates. Service Fees: Banks provide financial services to their clients and charge certain amount of fees. By charging fees for managing customers’ bank accounts and providing other financial services such as issuing letter of credits, banks create another source of income, known as noninterest income. Now banks’ services have also expanded into investment consulting and information disseminating. These services usually cost expensive fees. Financial Products: Banks provide financial products to help clients manage their property and generate noninterest income. A good example can be that banks sell mutual funds to their clients and gain income from both commissions and certain percentage of the funds’ returns. In addition, banks sometimes also act as  brokers and generate revenues from bid-ask spread. Investment: Some banks play an active role in venture capital industry. By making investments in promising small companies, banks earn the benefits like capital investors or buy-out funds do. In addition, banks can also explore profit opportunities within currency exchange market. Circulation Intermediary for Cash: Bank can boost the economy by reallocating idle money to investors who need money. Banks can gather the discrete money by absorbing deposit and then lend out loans, thereby increasing the liquidity of cash and thriving investment activities. Create Derivative Value: Because of banks, several times the value of original deposit is created. People save their money in banks, and banks lend the money out. New loans throughout the banking system generate new deposits elsewhere in the system. Thus new deposits are derived by the loan and create more sources of cash for banks to lend out. Payment Chains: Banks encourage the business between companies by managing the shift of funds through corporate accounts. Banks can also represent their clients to make payments and help their clients to honor cash. Comerica Incorporated (CMA), one of the 20-largest banks operating in America, has major operations in Midwest, California, Texas and Florida. Comerica operated under three business segments: the business bank, the retail bank and the wealth and institutional management. Due to the financial crisis of 2008, banks, especially ones with high exposure in mortgage related loans, were under a lot of stress. Comerica, being one of them, is being evaluated by the Jack, as a potential investment. CHARACTERISTICS OF CMA’s FINANCIAL HEALTH: Based on the financial statements provided and the Exhibit 5, we have outlined the main characteristics which define CMA’s financial health. Increase in Credit Loss Reserves: Credit loss provisions are the estimated loan losses from the current operating period, which means that company is not expecting to receive these loans back and hence expensing them out, by increasing the allowance for credit losses on balance sheet. There is a substantial increase in the company’s credit loss provisions for Comerica. The percentage of credit loss provisions to PBT plus credit losses skyrocketed, from 3.6 percent in 2006 to 66 percent in Jun 2008, indicating the Corporation’s tough situation in collecting the outstanding loans. Increase in Non-Performing Assets: Reserve coverage ratio, despite the increase in loss reserves, is decreasing dramatically, from 213% in 2006 to 87% in June 2008, indicating an enormous increase in non-performing assets (NPA). The main reason on increase in NPAs the fact that high percentage (32.9%) of company’s total loans is Real Estate loans. This is the reason that company’s interest income has decreased despite the increase in loans made in 2008. Efficiency ratio is basically an operating expense margin measure, the lower the better. The above 60 percent efficiency ratio, 50 percent generally regarded as optimal, is an indicator of company’s deteriorating performance. Use of Long Term and Short Term Debt to Finance Loans: Balance sheet show that Comerica’s total deposits are maintaining a level since 2005, however company’s net loans have increased by almost $10 Billion. Balance sheet clearly shows that these loans are finance from the increase in short-term and long term debt, which cast doubts on the profitability of company going forward. Unsustainability of the Dividend Pay-out Ratio: Exhibit 5 shows an increasing trend in the dividends, which Comerica has tried to maintain despite the low earnings. In the June 2008 quarter, company paid $99 Million as dividends against the net income of $56 Million during the same quarter. These levels of dividends are not sustainable in the current recessionary environment, and when the company does cut dividends, it will send a bad signal to the market. Downward Revision in the Federal Funds Rate: We noticed that spread, which equals to net interest expense as a % of earning assets minus net interest expense as a percentage of interest bearing liabilities, is decreasing. One of the reason of this phenomenon is that interest bearing deposits are increasing – which is bad for the company. Moreover, there has been a downward revision of 3.25 percent in the federal funds’ rate from its original level of 5.25% in July 2007, to 2.0% in 2008 – limiting the banks’ ability to charge higher spreads. Moreover, commercial loans are predominantly floating rate, so decrease in the Federal Funds rate will affect company’s interest income. We do think that decrease in the Fed’s rate will increase the demand for loans but given the credit crunch, it seems unreasonable in the short run. Decrease in Interest Income Percentage Measures: The shrinkage of interest income can be obviously seen from the Corporation’s net interest income as a percentage of earning assets, from 6.82% in 2007 to 4.86% by the end June 2008. This decrease is due to both factors of the ratio, one interest income is decreasing, secondly earning assets for Comerica Inc., which is loans, investment securities available-for-sale and short-term investments are increasing. Moreover, net interest margin, which is calculated as a difference between net interest income and net interest expenses divided by earning assets, show a downward trend. VALUATION: To value Comerica, we have used both methods Jack is planning to use. We will first do the sensitivity analysis (Exhibit 7 in the case) to find the range of tangible book value, earnings and dividends. Using that sensitivity analysis table, we will find the range of firm’s value employing comparable and dividend discount models. Sensitivity Analysis: In the Exhibit 7 at the end of the case, we have already been given the existing quarterly earnings estimates and tangible book value at the end of 2009. Those estimates are based on charge-off ratio of 0.85%. We have completed the sensitivity analysis based on the following assumptions: †¢Percentage of charge off is annual, and dollar value of the charge off will be distributed over each quarter equally. †¢Company’s charge-off ratio taken in 2008 will continue to be the same in 2009. We think this is a  reasonable assumption because of current low reserves for credit losses to NPA ratio of Comerica, as compared to its peers. †¢Company will maintain a certain level of allowance of loan losses. Therefore any increase in percentage of charge off will translate to decrease in tangible book value of the company through the income statement. †¢Dividends are taken to be 48% of earnings in case of positive net income and zero in case of negative net income. Company is trying hard to keep the level of dividends constants, to avoid sending bad signals. But company will not be able to sustain this level of dividends, so it will revert to the historical average of 48% dividend payout ratio (Exhibit – 1). Using these assumptions, we get the range of tangible book value, at the end of 2009, of $5,247 Million in case of 0.85% charge off to $4,647 Million in case of 2% charge-off. Detailed calculations are provided in the Exhibit – 2. Comparable Method: We have chosen two multiples to value Comerica i.e price to tangible book value and price to earnings ratio. Since, due to the current financial crisis, earnings of the companies are very volatile, we think price to tangible book value is a better multiple. Therefore, we will use price to earnings ratio just as a check multiple. Now that we have decided which multiples to use, we need to assign weights to the comparable companies to find out the weighted average multiples. To assign weights, we considered the following factors in terms of similarity between Comerica and comparable companies. †¢Geological location of the operations †¢Percentage of loans from different business segments †¢Financials – Including total revenue break up, return on equity and assets, reserves for loan losses to total loan and total NPAs etc. Based on these weights assigned we calculated the comparable weighted average of the price to tangible book value ratio and price to earnings ratio. Following table summarizes values calculated by both the methods and their sensitivity to the charge-off percentage. Detailed calculations are given in Exhibit – 2 and 3. As we mentioned before, earnings are very volatile right now and are suppressed because of the financial crisis. So we think price to tangible  book value is a better measure of company’s intrinsic value. Therefore we think, company is undervalued right now and hence Jack should propose to long its stock. Dividend Discount Model (DDM): We have also used DDM to find the intrinsic value of the company. We think that company will not be able to sustain its dividends of $0.66 per share per quarter in the short run. However, by year 2010 company will have enough earnings to come back to its previous level. Keeping in mind the fact that company has been growing its dividend payout ratio, and earning are also expected to increase in the long run; we have assumed that company’s dividends will grow at the rate of 2% in perpetuity. Using these assumption, and cost of equity 8.8%, dividend discount model gives us the share price of $40.39 per share, which also indicates that company is undervalued right now. Detailed calculations are provided in Exhibit 4. FUTURE INDUSTRY OUTLOOK: The collapse of mortgage market has taught financial industry an expensive lesson, making a lot of financial institutions unable to fully recover even till now. One of the major factors that cause a lot of banks’ failure and bankruptcy during financial crisis is the banks’ overconfidence in real estate market and issuing huge amount of new debt without the checking credit quality of borrowers. After the financial crisis, banks have become very cautious when dealing with mortgage related loans. Requirements regarding borrowers’ personal incomes and documentation have been considered necessary and valuation process about mortgages has gone very conservative. Facing the illiquidity during the financial crisis, banks are required to improve their capital bases to improve their insolvency. One regulation from Base III incorporates a significant expansion in risk coverage and introduces modified ways to calculate risk-based capital. Moreover, complex hybrid capital ins truments, which used to be considered as a part of banks’ equity, has been exclude from banks’ equity calculation. Base III also puts increasing focus and emphasis on banks to acquire common equity that can be quickly cashed out when facing unexpected situation. The enactment of Base III and the self-improvement happening in the banking industry or, even broader, financial industry have made bank valuation focus more on bank’s  traditional originate-to-hold business, and associated bank’s securitization activities with higher risk. Increasing focus has also been put on a bank’s capital base, which has everything to do with a bank’s solvency and liquidity. Banks, whose equities have complex hybrid equity capital instruments, tend to be less liquid and have higher business risk. Funding source is another factor considered. Banks with less retail funding on their balance sheets are more vulnerable when unexpected situations happen. Loan quality, which had been largely neglected when everyone had big overconfidence to housing market before the burst of the financial cris is, has been brought back to the ‘valuation table’ and greatly reemphasized. These improvements in the regulatory requirements have restored the confidence of investors in the banking industry to some extent. That’s why we see the financial industry raising to the level where it was before the financial crisis. CONCLUSION: Financial statements analysis of CMA does not present a very pretty picture, but because of the financial crisis, whole industry is under stress and experiencing the same deterioration in the quality of earnings. However, our valuation methods show that CMA is undervalued relative to its peer companies and hence is a good investment to hold right now.