Religious Views on War Essay

1. To complete this Graded Assignment, retrieve the Religious Views on War DBQ. Use this document with its essay instructions and the DBQ Checklist to complete this DBQ essay. Please consult the rubric throughout the process. Using the documents, compare the views of major world religions on war. What additional kind of document(s) would you need to compare the views of major world religions on war? Essay: Three major world religons have their roots in India: Hinduism, Buddhism and Sikhism. Buddhism and Sikhism both grew from Hinduism. All three share the idea of non-violence (ahimsa). The term ‘non-violence’ was actually coined in English (about 1920) by Mohandas Karamchand Gandhi (1869-1948) as a direct translation of ‘ahimsa’, ‘avoiding harm to others’. The idea of non-violence was very important to Mahatma Gandhi’s thinking and actions as a Hindu leader during India’s approach to independence in 1947. He wrote: ‘I object to violence because when it appears to do good, the good is only temporary; the evil it does is permanent Hinduism is perhaps the oldest world religion; in some of its writings ahimsa has been considered the highest duty from the beginning of time. Jainism also grew out of Hinduism; Jainists believe that people should strive to become detached from the distractions of worldly existence; and that the practice of ahimsa is an essential step on the way to personal salvation Buddhism developed from the teaching of Siddhartha Gautama, called the Buddha (c.563 – 483 BC), who believed that human suffering could be overcome by following a particular way of life. The first precept of Buddhism is ‘non-harming’ (ahimsa): Buddhists reject violence. Buddhism is clearly pacifist in its teaching, and many Buddhists say quite bluntly that it is ‘better to be killed than to kill’. Some Buddhists have been very active in promoting peace, particularly during the Vietnam War (1961- 1975), when they  offered a ‘Third Way’ of reconciliation between the American and Communist armies. Some Buddhist monks burned themselves to death in self-sacrificing protest against the war. In the Guru’s house, religion and worldly enjoyment should be combined – the cooking pot to feed the poor and needy and the sword to hit oppressors.

Brought Bernadine Healy Down Essay

Who Brought Bernadine Healy Down? describe the various cross-pressures and multiple responsibilities that Healy faced. Why do these persisting cross-pressures and responsibilities make it so difficult to frame a clear, consistent motivational system in government or nonprofits? In 1991 Dr. Bernadine Healy took over as president of the Red Cross from Elizabeth Dole. Dr. Healy style of leadership was more like that of an entrepreneur rather than a bureaucrat. She was encouraging of change, shrewd in detecting inefficiencies and decisive in her actions. She did not see the need to build consensus, assuming an allegiance on the part of others to her goals. The board and old guard of the Red Cross expected Healy to adjust her head-on style to their softer approach, to work within their structure. This made Dr. Healy attempts of changing the Red Crosses Culture as well as their system of operating a very daunting task. While Healy and the Red Cross were both striving for the same goal, serving the public good, their methods and expectations were vastly divergent. When Healy uncovered significant fraud in one of her Jersey City, N.J. chapters, she immediately turned it over to the local prosecutor’s office, which indicted the director and bookkeeper for stealing funds from the Red Cross. However, instead of praising Healy, several board members criticized her for being â€Å"too tough† in Jersey City. Healy hard charged style was effective but made governors of the Red Cross very uncomfortable. Healy was original chosen to lead the Red Cross because she brought to the table a strong background in efficiently managing large, complex organizations. As its leader, however, Healy neglected to make room for the Red Cross operationalized institutional values; she misjudged their tenacity and failed to adjust her leadership style to the organizational culture. As a result, she was unable to maintain a legitimate authority and enact her vision of the organization’s greatness. Within two years, she was forced to resign, because many of the board members disliked her strong political views. After a governor’s vote on the confidence in her leadership went 6 in favor of Healy and 27 against her on October 23rd, Healy publicly announced her resignation as president of the Red Cross three days later. Reference Stillman, R. J. (2010). Public administration cocepts and cases. (9th ed., pp. 321,331-341). Boston: Wadsworth. http://www.hhh.umn.edu/img/assets/29524/red%20cross%20case-1.pdf

For Machiavelli, how should a leader sensibly and reasonably respond Essay - 1

For Machiavelli, how should a leader sensibly and reasonably respond to an environment where events are determined in part by fortune - Essay Example Therefore, the Machiavellian approach recommends an extremely practical approach to those situations that arise from fortune; an approach that might be frowned upon in the liberal dominated world of today. Politics is essentially influenced more by fortune than by the machinations of leaders and it is because of this that, according to Machiavelli, is to create a balance between the various interests within the state so that he can have an influence on all of them (Machiavelli: 22). The result of a balancing of interests is that a leader can be able to create a political environment, which favours himself rather than his opponents. Leaders always have to be careful to ensure that more competent or popular individuals within their societies do not take their power away and this is the reason why they have to take account of all the grievances that might arise. In most cases, rivals often take advantage of situations where the leader is in a weak position in order to press their own causes and it is because of these circumstances that a leader has to always have firm control over the state. A leader has to stabilise his power through the development of an enduring political structure be cause this is the only way through which they can retain their power (Machiavelli: 17). Therefore, if a leader wishes not to leave anything to fortune, it is essential that he provide his people with the stability and security that they need to ensure that they continue their support for him. With the support of the people over whom he rules, it would be much more difficult for rivals to take advantage of the situation to either reduce his power or depose him. When a new leader comes to power, he has to ensure that he studies the political environment carefully before making any drastic changes within the society because to do so immediately might jeopardise his rule. He must first stabilise his rule through the studying of the different actors

Security is a major problem with the Internet Essay

Security is a major problem with the Internet - Essay Example The internet has become so huge that it is now nearly impossible to keep a check on all the activity that goes on in the internet. What are these threats The most common security threats of using the computer are hacking, phishing, viruses, worms, spam, and spyware. According to Victor Sabadash, Hacking is unauthorized use of computer or network resources. (2004) This includes hacking into other people's computers and also hacking other people's passwords. This has become very common nowadays. According to Symantec Software Solutions, new threats have increased from 125243 to 711912 from 2006 to 2007. This is a 468 percent increase in just one year. (Business Standard, 2008) These figures show why this is a major problem with the internet. You can make your computer safe by installing a firewall on to it. A firewall is a program that detects unauthorized users who try to hack into your computer and it stops that activity. Phishing is uses emails to ask for personal information by using the names of reputable organizations for example Citibank etc. This fools people into giving their personal information to these hackers. These hackers use this information for financial theft, identity loss, and fraud. (Russel Kay, 2004) Symantec has seen 87963, which is a 167 percent increase, in phishing hosts in just the last sic months of 2007. (Business Standard, 2008) This increase also proves how security is a major problem of internet. The only way phishing can be avoided is to understand the occurrence of this and think before giving out your password and other personal information online. You can also check the reliability of the source of the website.A Computer virus is a program which replaces itself or attaches itself to other programs in an individuals computer without the knowledge of the owner. These infect the computer in different ways. Sometimes viruses are not noticeable while sometimes they can de stroy the hard drive. Worms are something similar to a virus. It is a program which usually proliferates through network connections. It needs a host program, otherwise it would not be able to function. (Markus Hanhisalo) In 2003, $55 billion was spent on cost of computer viruses by businesses. (Cyberoam, 2004) There are different anti viruses nowadays that deal with all sorts of viruses. Installing these anti viruses onto your computer can help you detect and delete the virus before it spreads and destroys the PC. Email is the cheapest way to pass a message to many people at the same time. Spam unwanted emails that come into your email inbox which you refer to as junk mail. These mail usually promote products and sometimes even ask for personal information, for example credit card number etc., in the email. These emails were only a nuisance but now viruses are spread through this and phishing is also becoming common because of this. The statistics show that spam is increasing. According to a source, 92.3 percent of emails sent in the first three months of 2008 were all spam and 23300 spam related web sites are discovered everyday. (Robert Jaques, 2008) This is why spam is becoming a major problem for internet security. Spywares are programs that are installed onto one's computer without his permission. These programs basically spy on the activities that take

The Management of Global Trade Distribution - De Beers Essay

The Management of Global Trade Distribution - De Beers - Essay Example It was able to exert monopolistic influence among suppliers in the diamond industry to sell their rough diamonds to De Beers’ channel which was then the Central Selling Organisation or CSO which then enabled De Beers to control the global supply of diamonds even if the diamonds did not came from De Beer’s mines (Ziminisky2013). II. De Beers distribution system: Monopoly De Beers is one of the few companies that exerted monopoly in its supply and distribution that it creative a competitive advantage for the company. During its height in 1902, it was able to control an overwhelmingly 90 percent of the diamond industry that it can dictate the price and availability of diamonds (Sehgal 2011). Monopoly exists when a only a single company exists to dominate a certain industry in the provision of goods or services (Milton 2002). Its high price today and its perception of being a valued commodity can be attributed to De Beers’ strategy to justify the increase of the pric e of diamonds because diamonds perse have no practical use and its high price does not reflect its scarcity because its price remains high even if it is in abundance (Yu nd). III. Forms of distribution of De Beers: CSO and DTC De Beers is probably the most successful and biggest monopoly company in the world that virtually operated in almost absolute cartel from its beginning in 1800s until 2001. It was able to establish its cartel like monopoly in the diamond industry when Ernest Oppenheimer achieved a controlling stake in De Beers in the mid 1920s when it expanded into various operations of the diamond industry with the goal of monopolizing its distribution. It did so by influencing suppliers in a multitude of ways to sell its produce of rough diamonds to De Beers’ channel which was then the Central Selling Organisation or CSO which then enabled De Beers to control the global supply of diamonds even if the diamonds did not came from De Beer’s mines (Bergenstock et al 2006). De Beer’s cartel like distribution channel which is the Central Selling Organisation or CSO and later evolved to become Diamond Trading Centers or DTC is probably the most successful monopolistic distribution system in the world. It can basically dictate the entire diamond industry because it can determine what should be sold, when, where and how much. Since it controlled majority of the supply (85% to 90% of the market) through its CSO or DTC, buyers have no choice but to avail diamonds through De Beers’ distribution system of CSO or DTC. To be able to buy diamonds from De Beers’ distribution system, it has to become a member or â€Å"Sightholder† because De Beers only sell diamonds to qualified â€Å"Sightholders† until today. According to De Beer, this event of selling diamonds are known as â€Å"Sights† because, â€Å"during the sales period, [their] customers are able to physically inspect the stones we are offering them before deciding whether to purchase† (De Beer 2012). These customers are selected according the â€Å"Supplier of Choice contract  criteria† (De Beers 2012). In essence, however, these â€Å"Sightholders† are powerless during â€Å"sights† because they have to accept the terms set forth by De Beers where they are not allowed to negotiate and can only accept

Strategic Management Analysis Based on Case Study Essay

Strategic Management Analysis Based on Case Study - Essay Example This mechanism gets rid of greenhouse gas emission from the vehicle’s engine. For this purpose, Better Place strives to create a global market for electric cars. In order to fulfill its mission of making automobile industry independent of oil consumption, Better Place focuses on re-engineering its car’s model instead of re-engineering the battery. This is in contrast to PSA which is a European automobile firm. PSA’s focus, under the chairmanship of Jacques Calvet, was on using different batteries like cadmium-nickel batteries or lithium-ion batteries to improve the functioning of electric cars so as to capture the commercial market. Their attempts failed to yield positive results (Freyssenet, 2009, p.252). Better Place’s mission is to make electric cars convenient in every way, and also to make them affordable for commercial customers. Vision Shai Agassi opened his company Better Place with the vision to make the world a better place. For this, his goal wa s to reduce or eliminate a country’s dependence on oil consumption especially with regard to transportation. He was known as an environmental visionary, and although his dream seemed apparently not practical, he was however determined to make a world that will not be relying on oil (Better Place: Charging into the Future? 2010, p.1). The company’s vision is to become one of the most valuable automotive companies in the world. For this the need is to design and manufacture electric vehicles in economic and user friendly manner so as to attract the most loyal customers of the industry. Stakeholders Better Place strives to hold a valuable place for its suppliers and dealers by becoming their most profitable business partner. For employees, the company intends to provide a safe, sound and motivational workplace. For investors, the company strives to become a long term and sustainable profitable venture. Finally, the company’s loyalty lies with its loyal and enthusia stic customers who expect continuous growth and improvement in everything the company does including designing of the cars to durability to after service after sale. For this, Better Place promotes technologies that are most convenient for customers. According to Better Place smart grids which are reliable and safe technologies for charging and billing of EVs â€Å"reduce CO? by charging EVs intelligently and at the same time making it easy for EV owners to charge vehicles during off-peak hours† (European Strategy...., 2010, pp.2-3). Power/interest grid for stakeholders High Power Keep satisfied Shareholders Car manufacturer Government officials Banks Manage closely Customers Insurance company Employees Suppliers and dealers Low Power Monitor Public authorities Automotive supplier Infrastructure supplier Keep informed Road operator Service provider II. Industry and Scenario Analysis Bargaining power of buyers In order to understand the standing of Better Place in the automobi le industry, it is necessary to study the Porter’s five forces analysis. The electric cars are seen as solution to vehicle induced air pollution. However, there are many drawbacks attached to electric cars like limited mobility and speed, need of charging battery failure of which can cause power disruption, costlier than conventional cars etc (Cheron & Zins, 1996, p.1). The buyers have little advantage regarding electric cars, since they do not have the option to switch between multiple brands.

Management information system Research Paper Example | Topics and Well Written Essays - 1750 words

Management information system - Research Paper Example The unparalleled progresses in calculation and communication technologies have made such requirements adaptable into attainable objectives. Thus, a large portion of the world population has its stake in information systems. Invariably, such systems are computer based. Today, more than ever before in the history of human kind, we have an unquenchable thirst for information. The society has changed significantly from the Barbarian to the Agrarian Society, from Agrarian to the Industrial society and from the industrial society to a society dominated by the service sector. People have witnessed the industrial revolution, the advent of automobile and introduction of telephones. Today, people are all living in an information society. It goes without saying that we describe the present times as the information era or the IT age. Underneath this is a tacit acceptance of the fact that not since the advent of the automobile and the introduction of the telephone has an invention, had such wide spread impact on our lives and society as the computer, which has ushered in the information era. ... Notably, organizational management systems that pertain functioning, planning, and running of an organization are very significant. In reference to Lucey (2004), management information system implies chiefly â€Å"organizational information systems which are generally large, sophisticated, structured, and dynamically evolving and of immense commercial value†. In addition, Lucey (2004) notes that computer data structures required to aid administration of a business structure the primary subject of this transcript. Description of the information system and its functions Management information system is a familiar term to most of the managers working in both public and private organizations. These systems are used widely by administrators at central, functioning and superior degrees in an organization. Organizations employ a high number of system analysts and programmers and systems analysts to build numerous management information systems (Lucey, 2004). Obviously, in the educati on of system analysts and programmers in addition to general executives, the subject management information system occupies a key position. A TECOM investments organization in Dubai is no exception. TECOM investment organization develops and manages business parks under Dubai Holdings. TECOM investment holding is a conglomeration of more than four thousand companies. This organization uses information systems in its management and provides information system services to its clients through the Dubai internet city business park. TECOM investment has installed management information systems in different departments which have different goals and objectives. Though Management Information system was envisioned as a single

Introduction and organizations as a soci-technical system Essay

Introduction and organizations as a soci-technical system - Essay Example Technology has often to be found as associated with implementation problems, examples of which are found from past and therefore STS has gained its importance in IT arena for quite a time. A number of establishments have summarized the way socio-technical principles can be put into practice (Lamb, Sawyer, & Kling, 2000). From personal experience it can be inferred that socio-technical system encompasses the technical issues that are at the same time associated with behavioral approaches. A linkage between technological elements and social interactions has found to be extremely important and accommodating. Bhatt (2001) indicated that â€Å"†¦knowledge management is best carried out through the optimization of technological and social subsystems†. Scacchi (2005) uses STINs (Socio-technical Interaction Networks) to understand Free and Open Source Software Development (F/OSSD) as discussed by Meyer E.T (2006). The weakness of socio-technical system described by Meyer E.T (2006) is that â€Å"whether a system that embodies both people and technology can be demonstrated not be in

Commercial Essay Example | Topics and Well Written Essays - 1750 words

Commercial - Essay Example According to Sale of Goods Act 1979, under Section 18, if the contract is unconditional the property in the goods passes to the buyer when the contract is made immaterial of the time of payment or delivery. Kevin has given his assent for unconditional appropriation of the aquarium to the contract. As part of the deal, Jackie agreed to dismantle the aquarium, package it for transit and arrange for it to be sent to Kevin’s premises. Under Section 32 (1) of the Act, if the seller is required to send the goods, delivery of goods to a career whether named by the buyer or not for transmission to the buyer is deemed to be delivery in performance of the contract, unless there is evidence to the contrary. However this is subject to Section 32 (2) which stipulates unless otherwise authorized by the buyer, the seller must make such contract with the carrier on behalf of the buyer as may be reasonable, having regard to the nature of the goods and the other circumstances of the case. It is not clearly stated whether the aquarium has been insured. If the consignment has been insured Kevin can claim compensation from the insurance company. If Jackie has failed to insure the aquarium as a prudent buyer would have done, then the buyer may decline to treat the delivery to carrier as a delivery to him, or hold Jackie responsible in damages under the normal circumstances. However, the statement â€Å"As part of the deal, Jackie agreed to dismantle the aquarium, package it for transit and arrange for it to be sent to Kevin’s premises by the end of the week† indicates that Jackie has complied with the instructions of Kevin and done as he has been authorised. Advice: Jackie has made delivery according to the contractual terms. He cannot he held responsible in damages or loss. 2. Sale of canary feed to Leah Facts of the case: On Thursday morning Leah placed an order for 75 bags of canary feed for despatch on Monday. The order was accepted and the payment to be mad e within 10 days of despatch. On Thursday evening, Jackie discovered that some of her stock records were incorrect and that there were in fact just 25 bags of canary feed. Jackie has now contacted Leah to cancel the contract. Analysis: The contract was based on valid offer, acceptance and consideration. The agreement was legally binding as there were intentions on the part of Jackie and Leah to create legal relations. The offer cannot be considered ‘invitation to treat’. Therefore, Jackie has the duty to deliver canary feed. Otherwise, she is liable for action in damages for non delivery under section 51.

Mattel and Toy Safety Essay Example for Free

Mattel and Toy Safety Essay For the better part of 30 years now, corporate executives have struggled with the issue of the firms responsibility to its society. Early on it was argued by some that the corporations sole responsibility was to provide a maximum financial return to shareholders. It became quickly apparent to everyone, however, that this pursuit of financial gain had to take place within the laws of the land. Though social activist groups and others throughout the 1960s advocated a broader notion of corporate responsibility, it was not until the significant social legislation of the early 1970s that this message became indelibly clear as a result of the creation of the Environmental Protection Agency (EPA), the Equal Employment Opportunity Commission (EEOC), the Occupational Safety and Health Administration (OSHA), and the Consumer Product Safety Commission (CPSC). These new governmental bodies established that national public policy now officially recognized the environment, employees, and consumers to be significant and legitimate stakeholders of business. From that time on, corporate executives have had to wrestle with how they balance their commitments to the corporations owners with their obligations to an ever-broadening group of stakeholders who claim both legal and ethical rights. A. B. Carroll, (1991). In this paper I will discuss the issue of toy safety in reference to Mattel, Inc. , one of the world’s leading toy makers. Mattel had ordered a series of recalls of children’s playthings that had been found to be coated with lead paint. The toy recalls had alarmed parents and consumer activists, as well as the toy industry, retailers who marketed their products, and product safety regulators. I will address the following circumstances that involved Mattel and their safety issues. Do I believe that Mattel acted in a socially responsible and ethical manner with regard to the safety of its toys? Why or why not? What should or could Mattel have done differently, if anything? Who or what do I believe was responsible for the fact that children were exposed to potentially dangerous toys and why? What is the best way to ensure the safety of children’s toys? In responding, I will consider how the following groups would answer this question: government regulators (in the U. S. and China); consumer advocates, the toy industry, children’s product retailers; and standard-setting organizations. What might explain the differences in their point of view? What do you think is the best way for society to protect children from harmful toys? Specifically, what are the appropriate roles for various stakeholders in this process? Mattel Corporation is the largest toy company in the world, a publicly traded organization with a market capitalization of over $6. 5 billion, employing approximately 36,000 people worldwide in 42 countries. Their products are sold in 150 nations In the summer of 2007, Mattel suffered a major product recall incident. The first recall was the result of vendor failure in China where traces of lead paint were discovered on 83 different products. This led to a recall of 1. 5 million items worldwide. The products contained levels of lead paint that failed the products’ specification. Mattel even announced that a significant portion of the toys were recalled because of a design flaw and not substandard manufacturing. Mattel requires the factories it contracts with to use paint and other materials provided by certified suppliers. Mattel executives said they did not know if the contract manufacturer substituted paint from a noncertified supplier or if a certified supplier caused the problem. I believe that Mattel acted in a socially responsible and ethical manner with regard to the safety of its toys. During this crisis, Mattel contacted their chief suppliers and asked them to pull the recalled products from the shelf. I think this was the appropriate thing to do in this case. First things first, pulling the product and afterwards warning the public of their finding so we could get the lead painted toys out of the hands of our kids. Then getting down to the problem, trying to figure out where they went wrong to correct the problem. I do believe that this incident could have been avoided, but it was handled in a perfectly responsible and ethical manner. Some of the things that I think Mattel could have done differently from the beginning were to lay out rules and regulations for all of its external vendors and their subcontractors that were cutting corners to save money and time. Some of these subcontractors chose to violate the rules and use paint that was coated with lead, which went against Mattel’s rules. Perhaps if Mattel would have ran periodical checks with the suppliers and subcontractors the lead paint could have been caught before the toys went out. Although it was unintended, Mattel is the responsible one for the fact that children were exposed to potentially dangerous toys. According to the case study and given factors, Mattel has always held a reputation of being a good corporate citizen and their intentions were never something like this to happen. But because Mattel fail to follow up on their guidelines and set rules with vendors and subcontractors to assure they too were complying within guidelines, it all falls back on the originating organization itself. Mattel Inc.  CEO, Robert Ekert reported that the company could have done a better job overseeing the subcontractors in China which produce more than 21 million toys that were recalled. Federal regulators and toy manufacturers have spotted loose Chinese standards spotty US enforcement which contributed too many calls regarding the recalls of Chinese-made toys, food and other products regarding health threats. Ekert made an attempt to bring down public outcry by going to the Senate Appropriations subcommittee to seek to test the safety of Chinese-made products within their own laboratories that are certified within their own company. Magyck, S. 2011). Upon my reading and research the best way to ensure the safety of children’s toys is through the U. S. toy safety standards and regulations. Toy safety standards are shaped by a variety of considerations, including research on child development, dynamic safety testing, and risk analysis. The primary safety standards for the U. S. toy industry are the mandatory federal standard (Code of Federal Regulations, Commercial Practices 16 [16CFR]) and the toy industry has also developed and adheres to voluntary standards (ASTM F963-03 Standard Consumer Safety Specification on Toy Safety). In addition to adhering to the federal requirements and additional self-imposed safety measures, the toy industry has initiated reassurance testing to affirm the safety of the toys already on the shelves. At the same time, the toy industry is developing a new, mandatory testing protocol by accredited laboratories in conjunction with the well-respected American National Standards Institute (ANSI). The U. S. toy industry understands the concerns many parents have about the safety of toys on the market and is encouraging the U. S.  Congress to pass comprehensive legislation on consumer product safety. The toy industry is also providing additional resources to inform consumers and parents and provide useful tools through this site and through partnerships with independent consumer organizations. The toy industry is also working with health and safety experts to provide parents and consumers with practical tips and relevant information. In the U. S. , the U. S. Consumer Product Safety Commission (CPSC) is the independent federal agency that oversees the safety of toys and other consumer products. Nearly 50% of the CPSCs resources ($66 million annually) are used towards the agencys work on toys and other childrens products. The CPSC enforces the U. S. requirements for toy safety and, along with the manufacturer or distributor, issues product recalls as needed. Toy Industry Association (2011). I believe the best way for society to protect children from harmful toys is to follow along the lines, the eight steps that the Consumers Union proposed to help safeguard the health and safety of American consumers from the onslaught of unsafe Chinese-produced consumer products and foods.

Foreign Exchange Risk in Banks Overview and Analysis

Foreign Exchange Risk in Banks Overview and Analysis Objective of the Project:- The objective of this project is to understand the various types of foreign exchange risks. And the potential impact of the foreign exchange risks on the institutions involved in foreign exchange trading. Background:- In this project, I have calculated the value of risk involved in foreign exchange transactions at United Bank of India. Methodology:- The data used in this project is obtained from secondary research. Historical method is used to calculate the Value at Risk (VaR). The Value at Risk is thus calculated is used to find the actual amount at risk in terms of INR. Findings and Conclusion:- By finding the total risk, we get to know the total amount that the organization can lose in the worst possible scenario. It happens if the allocation of fund is not based upon the possible value at risks. In carrying out this project, I have found that the bank has allocated more funds for its forex operations than required. Recommendations:- At present the bank is operating at the 99% confidence level to calculate the value at risk. As they are working at 99% confidence level, due to this they need to employ more capital for their forex operations. United Bank of India should operate at 95% confidence level. This will help them cut down funds employed for their forex operations. Introduction to Foreign Exchange The creator of the universe has not distributed resources needed by the civilised world evenly on our planet earth. What is available easily at one place is hardly available at another place. This has resulted in an environment of interdependency among the countries. The interdependency among countries has given rise to international trade. The growth of international trade of goods and services has necessitated a method of exchange. Let us evaluate a transaction involving supply of goods from India to United Kingdom. The value of goods is known to the Indian supplier in INR. Thus the Indian supplier will price the goods so that he can make profit in INR. At the same time the purchasing power available with the UK customer is in GBP (Great Britain Pound). Therefore the customer will want to know the price in GBP. Now, if buyer and seller decide to settle the transaction in USD. Therefore to complete such transactions, the parties to the transaction need to know the value of one currency in terms of another. This mechanism of converting one currency in terms of another is known as â€Å"Foreign Exchange†. Foreign Exchange is defined in Foreign Exchange management Act 1999 as:- Ø All deposits, credits, balances payable in any foreign currency and any drafts, travellers cheque, letter of credit and bill of exchange expressed or drawn in Indian currency and payable in foreign currency. Ø Any instrument payable at the option of the drawee or holder thereof or any other party thereto, either in Indian currency or in foreign currency or partly in one and partly in the other. In short, Foreign Exchange is the method of conversion of one currency into another. As foreign currency is treated as a commodity, it is traded in a market. Trade constitutes a small portion of the â€Å"Foreign Exchange Market†. The cross border movement of capital forms the major portion. Major participants of Foreign Exchange Market include commercial banks, central banking institutions, investment banks, foreign exchange brokers and merchants. The commercial banks become the vehicles for conversion, as most of the foreign exchange operation takes place through the account maintained with these banks. Objective of the Project A Project Report on FOREIGN EXCHANGE risks in Bank. Foreign Exchange is a very large financial market. At times foreign exchange market becomes very volatile. This is responsible for the various risks in foreign exchange market. Everyone involved in the foreign exchange trading should we aware of foreign exchange risk. To ascertain Foreign Exchange risk in Bank we need to execute the following tasks:- Various types of foreign exchange services available at Banks. The various types of foreign exchange risks. The various foreign currencies which has significant demand. The possible Hedging strategies that can be deployed to manage foreign exchange risks. Determination of Value at Risk (Var). Research Methodology Data / Information Collection. Study of data collected to calculate the value at risk (VAR). Calculation of mean return. Calculation of Standard Deviation. Data/Information Collection Data and information is collected from the various sources. These sources include data from the Bank, magazines, journals, books and newspapers. The information thus collected is used to calculate the Value at Risk. Value at risk (VaR) Risk is about odds of losing money and VaR is based on that common sense fact. Here risk is the odds of really big loss. Big loss is different for every investor depending on the investors appetite. But every investor whether big or small does wants to know his/her losses in the worst case. VAR answers the question, What is my worst-case scenario? To calculate VaR we need three components. These three components are: a time period, a confidence level and a loss amount or loss percentage. Using VaR investor will get to know things like: What is the most I can expect to lose with 95% confidence over a period of 10 days? What is the maximum percentage I can expect to lose with 95% confidence over a period of 10 days? We consider a relatively high level of confidence, mostly 95% or 99% confidence level. Time period taken can be anything like a day, 10 day, a month or a year depending upon what investor is looking for. A one day VAR of $10mm using a probability of 5% means that there is a 5% chance that the portfolio could lose more than $10mm in the next trading day. There are three methods of calculating VaR: the Historical method, the parametric method also known as variance-covariance method and the Monte Carlo simulation. The Historical Method: The historical method simply re-organizes actual historical returns, putting them in order from worst to best. It then assumes that history will repeat itself, from a risk perspective. We then put these data in the histogram that compare the frequency of return. Tiny bars in histogram represent the less frequent daily return while the highest point in histogram represents the most frequent daily return. Parametric Method:This method assumes that the stock returns are normally distributed. In this method we estimate only two factors an expected return and a standard deviation. These two factors allow us to plot a normal distribution curve. Monte Carlo Simulation: The third method involves developing a model for future stock price returns and running multiple hypothetical trials through the model. A Monte Carlo simulation refers to any method that randomly generates trials, but by itself does not tell us anything about the underlying methodology. Every run of Monte Carlo Simulation gives different result. But differences between these results are likely to be very narrow. Calculation of Value at Risk (VaR) To calculate the value at risk, at first we need to collect the historical data. Historical data is the historical exchange rate of a particular foreign currency against INR. The foreign currencies which we are considering here are United States Dollar (USD), Great Britain Pound (GBP), Euro and Japanese Yen (JPY). We are considering these currencies because they are the major currencies as exchange is easily available for these currencies. We will calculate the value at risk the investor faces in case he/she invests in any of these currencies. At first we will consider the case in which an investor is investing in United States Dollar. The investor will buy United States Dollar in exchange of INR. USD/INR The historical exchange rate for USD/INR for a period of 22 days starting from 15th April 2011 to 6th May 2011 is as follows: From the everyday exchange rate the periodic return is found by using the formula given below: Natural Logarithm (Present date exchange rate/ previous date exchange rate) The Value at Risk from the above data is calculated by using the given formula in excel: PERCENTILE (array of the periodic return,5%) Here the array of the periodic return is the everyday return of the period for which historical data is taken. The second attributes i.e., 5% tells that 95 times out of 100 the loss will not exceed the calculated VaR. Therefore we can say with 95% confidence that the loss will not exceed the Value at Risk (VaR) thus calculated. From the above data the Value at Risk (VaR) calculated at 95% confidence level is: 0.35% From the above data the Value at Risk (VaR) calculated at 99% confidence level is: 0.46% Euro/INR The historical exchange rate for Euro/USD for a period of 22 days starting from 15th April 2011 to 6th May 2011 is as follows: Euro/USD Euro/INR Historical exchange rate for Euro/INR is determined from the historical exchange rate of Euro/USD and USD/INR. Exchange rate of Euro/INR = Exchange rate of Euro/USD * Exchange rate of USD/INR In this case again the periodic return is found by using the formula given below: Natural Logarithm (Present date exchange rate/ previous date exchange rate) The Value at Risk from the above data is calculated by using the given formula in excel: PERCENTILE (array of the periodic return, 5%) Here the array of the periodic return is the everyday return of the period for which historical data is taken. The second attributes i.e., 5% tells that 95 times out of 100 the loss will not exceed the calculated VaR. Therefore we can say with 95% confidence that the loss will not exceed the Value at Risk (VaR) thus calculated. From the above data the Value at Risk (VaR) calculated at 95% confidence level is: 1.21%. From the above data the Value at Risk (VaR) calculated at 99% confidence level is: 1.53%. GBP/INR The historical exchange rate for GBP/USD for a period of 22 days starting from 15th April 2011 to 6th May 2011 is as follows: GBP/USD GBP/INR Historical exchange rate for GBP/INR is determined from the historical exchange rate of GBP/USD and USD/INR. Exchange rate of GBP/INR = Exchange rate of GBP/USD * Exchange rate of USD/INR In this case again the periodic return is found by using the formula given below: Natural Logarithm (Present date exchange rate/ previous date exchange rate) The Value at Risk from the above data is calculated by using the given formula in excel: PERCENTILE (array of the periodic return, 5%) Here the array of the periodic return is the everyday return of the period for which historical data is taken. The second attributes i.e., 5% tells that 95 times out of 100 the loss will not exceed the calculated VaR. Therefore we can say with 95% confidence that the loss will not exceed the Value at Risk (VaR) thus calculated. From the above data the Value at Risk (VaR) calculated at 95% confidence level is: 0.49% From the above data the Value at Risk (VaR) calculated at 99% confidence level is: 1.03% JYP/INR The historical exchange rate for USD/JYP for a period of 22 days starting from 15th April 2011 to 6th May 2011 is as follows: USD/JYP JPY/USD Historical exchange rate for JPY/USD is determined from the historical exchange rate of USD/JPY. Exchange rate of JPY/USD = 1/ (Exchange rate of USD/JPY) JPY/INR Historical exchange rate for JPY/INR is determined from the historical exchange rate of JPY/USD and USD/INR. Exchange rate of JPY/INR = Exchange rate of JPY/USD * Exchange rate of USD/INR In this case again the periodic return is found by using the formula given below: Natural Logarithm (Present date exchange rate/ previous date exchange rate) The Value at Risk from the above data is calculated by using the given formula in excel: PERCENTILE (array of the periodic return, 5%) Here the array of the periodic return is the everyday return of the period for which historical data is taken. The second attributes i.e., 5% tells that 95 times out of 100 the loss will not exceed the calculated VaR. Therefore we can say with 95% confidence that the loss will not exceed the Value at Risk (VaR) thus calculated. From the above data the Value at Risk (VaR) calculated at 95% confidence level is: 0.60% From the above data the Value at Risk (VaR) calculated at 99% confidence level is: 0.93% Calculation of Standard Deviation Standard deviation is a measure of how far apart the data are from the average of the data. If all the observations are close to their average then the standard deviation will be small. In finance, standard deviation is applied to the annual rate of return of an investment to measure the investments volatility. Standard deviation is also known as historical volatility and is used by investors as a gauge for the amount of expected volatility. Suppose that an investor has INR 45,000 to invest and is considering buying the USD. Currently one USD is valued at INR 45. The investor assesses a 0.75 probability that the USD will appreciate against INR over a coming period, so that one USD will be equivalent to INR 46 and a 0.25 probability that the USD will depreciate against INR to become equal to INR 44. INR 45,000 (at one USD equal to INR 45) = 45,000/45 = USD 1000 The payoffs from the proposed investment are as follows:- If the USD appreciates (One USD becomes equal to INR 46): USD 1000 *46 = INR 46,000 If the USD depreciates (One USD becomes equal to INR 44): USD 1000*44 = INR 44,000 PAYOFF (INR) RATE OF RETURN PROBABILITY EXPECTED RATE OF RETURN VARIANCE (1) (2) (3) (4) = (2) x (3) (5) 46,000 (46 45)/45 = 0.022 0.75 0.0165 (0.022 0.011)^2 x 0.75 = 0. Foreign Exchange Risk in Banks Overview and Analysis Foreign Exchange Risk in Banks Overview and Analysis Objective of the Project:- The objective of this project is to understand the various types of foreign exchange risks. And the potential impact of the foreign exchange risks on the institutions involved in foreign exchange trading. Background:- In this project, I have calculated the value of risk involved in foreign exchange transactions at United Bank of India. Methodology:- The data used in this project is obtained from secondary research. Historical method is used to calculate the Value at Risk (VaR). The Value at Risk is thus calculated is used to find the actual amount at risk in terms of INR. Findings and Conclusion:- By finding the total risk, we get to know the total amount that the organization can lose in the worst possible scenario. It happens if the allocation of fund is not based upon the possible value at risks. In carrying out this project, I have found that the bank has allocated more funds for its forex operations than required. Recommendations:- At present the bank is operating at the 99% confidence level to calculate the value at risk. As they are working at 99% confidence level, due to this they need to employ more capital for their forex operations. United Bank of India should operate at 95% confidence level. This will help them cut down funds employed for their forex operations. Introduction to Foreign Exchange The creator of the universe has not distributed resources needed by the civilised world evenly on our planet earth. What is available easily at one place is hardly available at another place. This has resulted in an environment of interdependency among the countries. The interdependency among countries has given rise to international trade. The growth of international trade of goods and services has necessitated a method of exchange. Let us evaluate a transaction involving supply of goods from India to United Kingdom. The value of goods is known to the Indian supplier in INR. Thus the Indian supplier will price the goods so that he can make profit in INR. At the same time the purchasing power available with the UK customer is in GBP (Great Britain Pound). Therefore the customer will want to know the price in GBP. Now, if buyer and seller decide to settle the transaction in USD. Therefore to complete such transactions, the parties to the transaction need to know the value of one currency in terms of another. This mechanism of converting one currency in terms of another is known as â€Å"Foreign Exchange†. Foreign Exchange is defined in Foreign Exchange management Act 1999 as:- Ø All deposits, credits, balances payable in any foreign currency and any drafts, travellers cheque, letter of credit and bill of exchange expressed or drawn in Indian currency and payable in foreign currency. Ø Any instrument payable at the option of the drawee or holder thereof or any other party thereto, either in Indian currency or in foreign currency or partly in one and partly in the other. In short, Foreign Exchange is the method of conversion of one currency into another. As foreign currency is treated as a commodity, it is traded in a market. Trade constitutes a small portion of the â€Å"Foreign Exchange Market†. The cross border movement of capital forms the major portion. Major participants of Foreign Exchange Market include commercial banks, central banking institutions, investment banks, foreign exchange brokers and merchants. The commercial banks become the vehicles for conversion, as most of the foreign exchange operation takes place through the account maintained with these banks. Objective of the Project A Project Report on FOREIGN EXCHANGE risks in Bank. Foreign Exchange is a very large financial market. At times foreign exchange market becomes very volatile. This is responsible for the various risks in foreign exchange market. Everyone involved in the foreign exchange trading should we aware of foreign exchange risk. To ascertain Foreign Exchange risk in Bank we need to execute the following tasks:- Various types of foreign exchange services available at Banks. The various types of foreign exchange risks. The various foreign currencies which has significant demand. The possible Hedging strategies that can be deployed to manage foreign exchange risks. Determination of Value at Risk (Var). Research Methodology Data / Information Collection. Study of data collected to calculate the value at risk (VAR). Calculation of mean return. Calculation of Standard Deviation. Data/Information Collection Data and information is collected from the various sources. These sources include data from the Bank, magazines, journals, books and newspapers. The information thus collected is used to calculate the Value at Risk. Value at risk (VaR) Risk is about odds of losing money and VaR is based on that common sense fact. Here risk is the odds of really big loss. Big loss is different for every investor depending on the investors appetite. But every investor whether big or small does wants to know his/her losses in the worst case. VAR answers the question, What is my worst-case scenario? To calculate VaR we need three components. These three components are: a time period, a confidence level and a loss amount or loss percentage. Using VaR investor will get to know things like: What is the most I can expect to lose with 95% confidence over a period of 10 days? What is the maximum percentage I can expect to lose with 95% confidence over a period of 10 days? We consider a relatively high level of confidence, mostly 95% or 99% confidence level. Time period taken can be anything like a day, 10 day, a month or a year depending upon what investor is looking for. A one day VAR of $10mm using a probability of 5% means that there is a 5% chance that the portfolio could lose more than $10mm in the next trading day. There are three methods of calculating VaR: the Historical method, the parametric method also known as variance-covariance method and the Monte Carlo simulation. The Historical Method: The historical method simply re-organizes actual historical returns, putting them in order from worst to best. It then assumes that history will repeat itself, from a risk perspective. We then put these data in the histogram that compare the frequency of return. Tiny bars in histogram represent the less frequent daily return while the highest point in histogram represents the most frequent daily return. Parametric Method:This method assumes that the stock returns are normally distributed. In this method we estimate only two factors an expected return and a standard deviation. These two factors allow us to plot a normal distribution curve. Monte Carlo Simulation: The third method involves developing a model for future stock price returns and running multiple hypothetical trials through the model. A Monte Carlo simulation refers to any method that randomly generates trials, but by itself does not tell us anything about the underlying methodology. Every run of Monte Carlo Simulation gives different result. But differences between these results are likely to be very narrow. Calculation of Value at Risk (VaR) To calculate the value at risk, at first we need to collect the historical data. Historical data is the historical exchange rate of a particular foreign currency against INR. The foreign currencies which we are considering here are United States Dollar (USD), Great Britain Pound (GBP), Euro and Japanese Yen (JPY). We are considering these currencies because they are the major currencies as exchange is easily available for these currencies. We will calculate the value at risk the investor faces in case he/she invests in any of these currencies. At first we will consider the case in which an investor is investing in United States Dollar. The investor will buy United States Dollar in exchange of INR. USD/INR The historical exchange rate for USD/INR for a period of 22 days starting from 15th April 2011 to 6th May 2011 is as follows: From the everyday exchange rate the periodic return is found by using the formula given below: Natural Logarithm (Present date exchange rate/ previous date exchange rate) The Value at Risk from the above data is calculated by using the given formula in excel: PERCENTILE (array of the periodic return,5%) Here the array of the periodic return is the everyday return of the period for which historical data is taken. The second attributes i.e., 5% tells that 95 times out of 100 the loss will not exceed the calculated VaR. Therefore we can say with 95% confidence that the loss will not exceed the Value at Risk (VaR) thus calculated. From the above data the Value at Risk (VaR) calculated at 95% confidence level is: 0.35% From the above data the Value at Risk (VaR) calculated at 99% confidence level is: 0.46% Euro/INR The historical exchange rate for Euro/USD for a period of 22 days starting from 15th April 2011 to 6th May 2011 is as follows: Euro/USD Euro/INR Historical exchange rate for Euro/INR is determined from the historical exchange rate of Euro/USD and USD/INR. Exchange rate of Euro/INR = Exchange rate of Euro/USD * Exchange rate of USD/INR In this case again the periodic return is found by using the formula given below: Natural Logarithm (Present date exchange rate/ previous date exchange rate) The Value at Risk from the above data is calculated by using the given formula in excel: PERCENTILE (array of the periodic return, 5%) Here the array of the periodic return is the everyday return of the period for which historical data is taken. The second attributes i.e., 5% tells that 95 times out of 100 the loss will not exceed the calculated VaR. Therefore we can say with 95% confidence that the loss will not exceed the Value at Risk (VaR) thus calculated. From the above data the Value at Risk (VaR) calculated at 95% confidence level is: 1.21%. From the above data the Value at Risk (VaR) calculated at 99% confidence level is: 1.53%. GBP/INR The historical exchange rate for GBP/USD for a period of 22 days starting from 15th April 2011 to 6th May 2011 is as follows: GBP/USD GBP/INR Historical exchange rate for GBP/INR is determined from the historical exchange rate of GBP/USD and USD/INR. Exchange rate of GBP/INR = Exchange rate of GBP/USD * Exchange rate of USD/INR In this case again the periodic return is found by using the formula given below: Natural Logarithm (Present date exchange rate/ previous date exchange rate) The Value at Risk from the above data is calculated by using the given formula in excel: PERCENTILE (array of the periodic return, 5%) Here the array of the periodic return is the everyday return of the period for which historical data is taken. The second attributes i.e., 5% tells that 95 times out of 100 the loss will not exceed the calculated VaR. Therefore we can say with 95% confidence that the loss will not exceed the Value at Risk (VaR) thus calculated. From the above data the Value at Risk (VaR) calculated at 95% confidence level is: 0.49% From the above data the Value at Risk (VaR) calculated at 99% confidence level is: 1.03% JYP/INR The historical exchange rate for USD/JYP for a period of 22 days starting from 15th April 2011 to 6th May 2011 is as follows: USD/JYP JPY/USD Historical exchange rate for JPY/USD is determined from the historical exchange rate of USD/JPY. Exchange rate of JPY/USD = 1/ (Exchange rate of USD/JPY) JPY/INR Historical exchange rate for JPY/INR is determined from the historical exchange rate of JPY/USD and USD/INR. Exchange rate of JPY/INR = Exchange rate of JPY/USD * Exchange rate of USD/INR In this case again the periodic return is found by using the formula given below: Natural Logarithm (Present date exchange rate/ previous date exchange rate) The Value at Risk from the above data is calculated by using the given formula in excel: PERCENTILE (array of the periodic return, 5%) Here the array of the periodic return is the everyday return of the period for which historical data is taken. The second attributes i.e., 5% tells that 95 times out of 100 the loss will not exceed the calculated VaR. Therefore we can say with 95% confidence that the loss will not exceed the Value at Risk (VaR) thus calculated. From the above data the Value at Risk (VaR) calculated at 95% confidence level is: 0.60% From the above data the Value at Risk (VaR) calculated at 99% confidence level is: 0.93% Calculation of Standard Deviation Standard deviation is a measure of how far apart the data are from the average of the data. If all the observations are close to their average then the standard deviation will be small. In finance, standard deviation is applied to the annual rate of return of an investment to measure the investments volatility. Standard deviation is also known as historical volatility and is used by investors as a gauge for the amount of expected volatility. Suppose that an investor has INR 45,000 to invest and is considering buying the USD. Currently one USD is valued at INR 45. The investor assesses a 0.75 probability that the USD will appreciate against INR over a coming period, so that one USD will be equivalent to INR 46 and a 0.25 probability that the USD will depreciate against INR to become equal to INR 44. INR 45,000 (at one USD equal to INR 45) = 45,000/45 = USD 1000 The payoffs from the proposed investment are as follows:- If the USD appreciates (One USD becomes equal to INR 46): USD 1000 *46 = INR 46,000 If the USD depreciates (One USD becomes equal to INR 44): USD 1000*44 = INR 44,000 PAYOFF (INR) RATE OF RETURN PROBABILITY EXPECTED RATE OF RETURN VARIANCE (1) (2) (3) (4) = (2) x (3) (5) 46,000 (46 45)/45 = 0.022 0.75 0.0165 (0.022 0.011)^2 x 0.75 = 0.

The Impact of Increased Literacy on Ballads and Chapbooks in Seventeent

The Impact of Increased Literacy on Ballads and Chapbooks in Seventeenth-Century England In seventeenth-century England, the rise of popular education and literacy coinciding with the mechanical technology of printing, led to the decline in the creation of ballads and in the importance of chapbooks. After England's Restoration period, inexpensive print was available in large quantities due to new technological innovations in the printing field. Almanacs became important for households on all social levels to own and approximately four hundred thousand were printed in the 1660s annually. Bibles were also being printed in great amounts, though less than almanacs due to the fact that they did not become out-dated. Early in the seventeenth-century England underwent "a form of phenomenon a little like that phenomenon of the Great Rebuilding and is very likely related to it" (9). This upsurgance of spending power enabled the yeomanry of the countryside to send their sons to school. Free from the labor force, these boys were taught to read and write. Fathers who were not as wealthy as the yeomen, still could send their sons to school until they were of working age, about six or seven. These lower class boys were taught to read, but writing was taught at a later age. This increase in the amount of the population that could read and write was extremely significant, transforming England from the fourteenth-century to the sixteenth century from a late medieval peasant society, to a society in which reading and writing were used by more people, and on all social scales, for education and entertainment. Approximately thirty percent of men in the latter half of the seventeenth-century were literate. Sixt y-five percent of the yeomen w... ...rich widow, waiting at the same place to go through the ceremony with him" (56). Regional chapbooks were written, with the characters talking in local dialects and usually mocking another region of England or a person visiting from a foreign country. The rise in literacy and the decrease of printing costs that simultaneously occurred in the seventeenth century, had both negative and positive effects on the socio-economic structure of England. The oral tradition of ballads, and the social community centered around it, were lost. Literacy brought self-education through books and entertainment from chapbooks to hundreds of yeomen, farm labors, tradesmen, and some lower class poor. Work Cited Spufford, Margaret. Small Books and Pleasant Histories: Popular Fiction and its Readership in Seventeenth-Century England. Athens: The University of Georgia Press, 1981.

Marketing Plan for Kathon MWX :: Business Marketing Case Study Essays, solution

Marketing Plan for Kathon MWX 1. EXECUTIVE SUMMARY Rohm & Haas is a diversified chemicals company. Its industrial chemicals division manufactures maintenance biocide products to the metal working industry. The company enjoys a healthy 30% market share with its Kathon 886 MW in the Central Systems segment. Rohm & Haas has recently launched Kathon MWX to target 150,000 customers in the Individual systems segment where the market for biocides is underdeveloped and has little competition. A large part of the customers use substitute products such as deodorants and bleaches with little effect on microorganisms. The company estimates the market size for the individual segment to be at $20 million and aims to achieve $0.2 Million revenues from this segment in the first year. Despite a superior product, the sales of Kathon MWX reached a meager 6 % of the annual plan in first five months. Rohm and Haas wishes to re-evaluate its strategy in order to tap this huge segment to significantly increase sales volume and market share of Kathon MWX. Rohm and Haas plans to enhance its allocation for distribution and marketing spend of the Kathon MWX. This would result in additional revenue of 0.1 million. This target would be achieved by a combination of a revamped distribution network for Kathon MWX, focused promotion campaign and sampling. 2. PROBLEM STATEMENT Can Rohm & Haas increase its market share and revenues in the maintenance biocide market with its current product line? The sales of Kathon MWX have barely touched 6% of the annual targeted sales for 1984. Is this the right product to target the Individual Systems segment? Can the current marketing strategy for this product help achieve the company?s objectives in the long run? 3. SITUATION ANALYSIS 3.1. Context The product sales of the company?s newly launched product Kathon MWX are well below the target set in the marketing plan for 1984. Despite its superior quality, the consumers have shown little inclination to adopt this product. 3.2. Company Rohm and Haas is a strong player in the maintenance biocide market for Central systems. The product Kathon 886 MW has a 30% share of the 18 million market. The company enjoys 70-80% market share in the non-ferrous metals segment and about 20% share in the ferrous metals market. The company has launched its new product Kathon MWX, a biocide targeted at Individual systems consumers.

Doc Holiday Essay -- essays research papers

Doc Holiday   Ã‚  Ã‚  Ã‚  Ã‚  Doc Holiday could be known as the most skillful gambler, the nerviest, fastest, and deadliest man with a six-shooter. John Henry Holiday was born on August 14, 1851 in Griffin, Georgia. His father was Henry Broughs, and mother Alice Jane Holiday. Their first child Martha Elenore, had died at six months of age on January 8, 1889. Holidays father was a druggist by trade and later became a wealthy planter, lawyer, and during the civil was he was a confederate Major. Holiday suffered a terrible loss when his mother Alice Jane died on September 16, 1886. This was a tragedy for Doc, due to being so close to his mother. Holidays father remarried Three months later to Rachel Martin on December 18, 1886. Then the family moved to Valdosta, Georgia. Due to his father’s high status, Holiday chose the profession of dentistry. In 1872 Holiday enrolled in Pennsylvania College of Dental and Surgery on March 1. He graduated with a class of twenty-six other men, and then soon opened an office with Dr. Arthur C. Ford in Atlanta.   Ã‚  Ã‚  Ã‚  Ã‚  After Holidays practice he soon found out the he had contracted tuberculosis. Doctors of whom he consulted with said he only had months to live, and suggested moving to a dryer climate. Doc packed up and headed west to Dallas, Texas. Holiday found a position with a Dr. John A. Segar, and prepared for business. Soon his illness over came him, and as a result his dental business gradually declined...

Shareholders Activism

What is shareholder activism? In the last decade, and especially after the global financial crisis, shareholders of publicly listed companies have started to be more active and advance their views to the board of directors. It should be noted right from the beginning that the intensity of the shareholders activism is not correlated with the state of economy.Therefore, the management of a publicly traded company should not assume that in times of relatively strong economy shareholders will turn a blind eye to issues affecting them (Taylor Wessing LLP, 2012, p. 1). To better understand the concept of shareholder activism, a tentative definition is required. According to the European Corporate Governance Institute (ECGI), â€Å"shareholder activism is the way in which shareholders can assert their power as owners of the company to influence its behaviour† (ECGI, n.d. , para. 1).Shareholder activism has both proponents and opponents. Those sympathising the emancipation of the shar eholders argue that â€Å"when companies perform poorly, shareholders activists are said to play the role of fire brigades that bring about change and more quickly than would have been the case had the fire brigade been on strike† (ECGI, n. d, para. 3). On the other hand, opponents think of shareholder activism as â€Å"a euphemism for disruptive, uninformed, populist ranting† (ECGI, n.d. , para. 4).The rise of shareholder activism in Canada and abroad In the world of business the concept of shareholder activism has lost its novelty a long time ago. However, the last few years saw an increase in the level of this kind of activity. â€Å"Investors appear to be feeling increasingly empowered to intervene in the management of public companies† (Taylor Wessing LLP, 2012, p. 2). The reasons are multiple.Mediatized international scandals involving some of the biggest companies in the United States of America, such as Enron and Worldcom, have led to changes in the legi slation regarding the corporate governance and the directors’ independence. Moreover, the public access to information on unjustified executive compensation and bonuses, and the recent financial crisis have put the shareholders’ patience to test. Closer to home, some changes in the Canadian corporate law have encouraged shareholders to take action whenever they felt their interests were not properly considered by the management.In an interview for Calgary Herald, Noralee Bradley, a partner with Osler, Hoskin & Harcourt, points out some of the changes in the Canadian legislation: A request by five per cent of shareholders can now compel a company to call a shareholder meeting; proxies can now be solicited by an unhappy shareholder through informal public statements such as press releases, without issuing a formal dissident proxy circular; and, a dissident can now privately solicit proxies from up to 15 shareholders before going public with a proxy circular.  (as cited in Burton, 2012, para.7) Another reason for the rise of the shareholder activism in Canada identified by Bradley is the increase in size of pension funds and hedge funds. The size enables these funds to take a stand whenever the companies are underperforming, or they do not meet their targets (as cited in Burton, 2012, para. 8). In the United States of America the situation is almost similar.Some of the most important characteristics are: (1) â€Å"greater financial firepower [†¦] permitting them [the activists] to make larger and more investments† (Noked, 2013, para. 3); (2) the emergence of new activist funds started by individuals who worked for other similar funds; (3) the degree of sophistication has increased, meaning that activists are hiring financial and legal advisors, and they run more professional campaigns.Also, many of the activists have switched their platforms to seek long-term involvement with their target companies; (4) increased attention from the med ia, which is usually sympathetic with the activists and it is always a low cost way to pressure companies (Noked, 2013, para. 4 – 7). Forms of shareholder activism According to Admati and Pfleiderer (2006), shareholder activism can take any of several forms: proxy fights or battles, takeovers, strategic voting, or shareholders’ proposals (p. 1).Other forms of shareholder activism include private discussions or public communication with the board of directors and management (or negations), publicity or press campaigns, blogging or other electronic ways of outing the underperforming managers, talking with other shareholders, calling shareholder meetings, shareholder resolutions, litigations and settlements, whistle blowing, and in extreme cases â€Å"voting with ones feet† and â€Å"seeking to replace individual directors or the entire board† (ECGI, n. d. , para. 1).Many of the tactics employed by the activists do not need any further explanations, but some of them require special attention not only because they are more complicated and not so easy to understand by an untrained observer, but also because they are the best course of action. Proxy fights. â€Å"A proxy is a person to whom a principal with voting authority delegates his voting rights† (MIPR, n. d. , para. 1). A proxy fight usually involves a battle for other shareholder proxies and it is typically in opposition to management (MIRP, n. d., para. 3). According to Burton (2012) a proxy fight has the goal to â€Å"force change on an unwilling company† (para. 4). Shareholder resolutions. â€Å"Shareholders exercise most of their influence over how the corporation is run by passing resolutions at shareholders’ meetings. Decisions are made by ordinary, special or unanimous resolutions† (Industry Canada, 2011, para. 8). In Canada, ordinary resolutions may involve the election of directors or the appointment of auditors, and only a simple majority is r equired (Industry Canada, 2011, para.9). On the other hand, special resolutions must be approved by two thirds of the votes and usually involve fundamental changes, like selling all of the corporation’s assets, or amending the corporation’s name (Industry Canada, 2011, para. 10). Usually management will oppose many of the shareholder resolutions leading to a rather lengthy process in which the sponsoring shareholder and the management summarize their opinion and try to get to a common view (MIPR, n. d. , para. 5). Say-on-pay vote. In the UnitedStates of America, â€Å"the say-on-pay vote asks investors to vote on the compensation of the top executives of the company – the CEO, the Chief Financial Officer, and at least three other most highly compensated executives† (SEC, 2011, p. 1). â€Å"In Canada, say-on-pay began as an investor-led campaign that started in 2007, when the big five banks were asked if they would offer shareholders an annual advisory vo te on executive compensation† (Alberta Venture, 2012, para. 9). It is important to note that say-on-pay give investors a non-binding vote, which makes this vote simply an expression of support, or disapproval (McFarland, 2012, para.12). Voting with their feet. Another tactic employed by activists is to vote with their feet. This is an extreme situation in which the investor sells all the shares of the company and exists the corporation. Historically, this was the most common form of shareholder activism, until proxy battles became more common (Taylor Wessing, 2012, p. 2). Canada is ready for shareholder activism Shareholder activism is not something new in Canada, in fact it is slowly becoming business as usual.Agrium Inc. , Canadian Pacific Railway Ltd., SNC-Lavalin Group Inc. , Telus, and Rona have all been involved in cases of shareholder activism during 2012 and 2013 (Dmitrieva & Pasternak, 2013, para. 2). â€Å"There were 42 cases of shareholder activism among Canadian f irms last year, almost double the 22 a year earlier† (Dmitrieva & Pasternak, 2013, para. 4). Shareholder activism can take many forms, but proxy battles and say-on-pay could prove the most effective in the Canadian corporate world. The legislation has changed and has become more shareholder friendly.Proxy battles are more frequent in Canada and according to Jeffrey Gandz, a professor of strategic leadership at the Richard Ivey School of Business in London, Ontario, â€Å"If it’s happening more, it’s probably because it pays† (as cited in Dmitrieva & Pasternak, 2013, para. 7). Gandz’s statement is backed by facts that indicate an increase in the value of the shares issued by the companies involved in proxy battles. The same view is shared by Robert Staley, a partner at the Bennett Jones law firm in Toronto. â€Å"We’re going to see more shareholder-driven activism in Canada this year; this is a growing trend.This should increase the share pri ces of companies targeted† (as cited in Dmitrieva & Pasternak, 2013, para. 18). Indeed, each company that was targeted by activists recorded and increase in the share prices, from CP Railways Ltd. to Rona and Agrium Inc. These results should motivate shareholders to be more active and to consider proxy battles as a method of voicing their interests. However, proxy fights usually involve strong public attacks on both sides, and some shareholders may wish to keep a low profile. For this reason settlements might seem like a better alternative (Melnitzer, 2013, para. 13).Say-on-pay is another tactic that activists can engage and it is already being accepted by many publicly traded companies. Some of them are Potash Corp. , Manulife, Power Corp, and Bombardier. According to Cornell Wright of Torys LLP’s Toronto office, say-on-pay and majority voting â€Å"allow investors to express themselves to management on frequent basis. The prospect that investors might express their v iew by withholding votes from board members or voting against a company proposal on say-on-pay is in a sense a more nuanced, less costly and lower-risk threat than a proxy fight† (as cited in Melnitzer, 2013, para.20). Say-on-pay votes may not seem like a reliable weapon for Canadian activists, but it will slowly be accepted as a confidence vote for the directors’ compensation and decisions. In Canada, say-on-pay has the potential of increasing the directors’ accountability to the owners of the company. Also, this kind of vote can lead to a better cooperation between the boards and shareholders in order to design a compensation package that will motivate the executives to work harder and maximize the company’s value in the long-run.It is not a surprise to see an increase of say-on-pay votes in Canadian companies because investors are slowly becoming more vocal. It is also not surprising to see an increase in negative votes considering the financial uncerta inty in the business world. Shareholder Association for Research & Education (SHARE) concluded that in 2012 â€Å"4. 5 per cent of Canadian companies had scored less than 75-per-cent support for their pay votes this year, while no companies scored below that level in 2011† (McFarland, 2012, para.6). In the past few years say-on-pay votes in Canada have managed to change the composition of CEOs’ compensation packages to include more share units and stock options. Even though the real benefit is hard to understand very quickly, there is a reason why this tactic should have a big impact in Canada: â€Å"those equity elements more often include additional performance features, requiring a company to meet financial targets before they pay out† (McFarland, 2012, para. 16). ConclusionShareholder activism has become a hot topic in the business world especially after the financial crisis that affected the profits of many publicly traded companies. It is an activity that has both opponents and proponents. Shareholder activism is on one hand just another populist method of influencing the public, but on the other hand is probably the only way to save a company from an underperforming management. Activism has a lot of facets, from proxy battles to takeovers, strategic voting, or shareholder resolutions, from press campaigns and blogging to litigations and settlements, and â€Å"voting with ones feet†.Canada is not immune to these kinds of shareholder activism, but the ones that will really have an impact in the near future are the proxy battles and the say-on-pay votes. Both methods have yielded an increase in the value of the shares of the targeted company. According to Paul Gryglewicz, managing partner at Global Governance Advisors, â€Å"say on pay and shareholder activism are very real and very alive in Canada† (as cited in McFarland, 2012, para. 15).

Mrsa

Staphylococcus erasures is a coagulate positive bacterium, and is among those that are dangerous unman pathogen because it has the ability to both be extremely virulent and its ability to develop antibiotic resistance, (Beers, 1442). This leads to the explanation of Nonmetallic-Resistant Staphylococcus erasures. The particular pathogen is cross-resistant to all Beta-lactates, Including all penicillin and cosponsoring (Beers, 229). As of late there have been two different way that MRS. has been classified.The first CA-MRS., Is community acquired MRS., and HA-MRS. healthcare acquired MRS. (Gregory, 230). Both cause skin and soft tissue Infections, which Include abscess, furnaces, and bolls. Most patients do not even notice the site t first claiming they thought it was a spider bite and leave it untreated for an extended length of time (Gregory, 232). Transmission of the bacteria occurs through close contact with someone who is already infected with the organism (Gregory, 233).Surprisin gly the organism can be found in the nose and skin of 20-30% of healthy adults, according to The Merck Research Laboratories (Broker, 873). According to the CDC, 85% of all invasive MRS. infections are associated with hospital stays. However many hospitals are trying to combat the extremely high communicable rate at which this â€Å"Super Bug† is breading, with the use of â€Å"Contact Precautions† (Gregory, 244). Identification of an Infection occurs wealth 48-72 hours of a culture (Gregory, 239).After a patient Is determined to have MRS., each visitor, nurse, doctor etc. That enters that patients room must wear a disposable gown and gloves, and then must take of these items before exiting the room. Hospitals hope that this will limit the spread of MRS. among its patients. So far there are have been two types of antibiotic that will treat or kill MRS.. Vaccines has been shown to kill the organism, while Thermopile- collateralizes inhibits its ability to multiply (Brok er, 874).

Narrative (fiction) texts Essay

Children should be able to distinguish narrative texts from expository ones. For a child to be familiar with each type of text means to possess sound communicational, analytical, reading, and writing skills. DQ 14 It is critical that children are able to distinguish expository texts from narrative works of writing. Generally, there are several features which make narrative and expository texts different from each other. Narrative (fiction) texts are filled with numerous sensory details. Personal experience is not a rare subject of fiction stories. Fiction literary works are usually told from a first person’s view. In many instances, the author of a fiction story will refer to personal interpretation of events and phenomena by using â€Å"I† or â€Å"we† pronouns. Expository (non-fiction) texts are primarily aimed at informing, explaining, or persuading the reader. Expository texts are not colored with emotions, being written from a non-personal (often neutrally objective) viewpoint, and carrying no sensory details. Expository texts are never written in the first person (Vacca, 1999). Children should be able to differentiate expository texts from narrative literary works. Children need these skills to read and interpret texts, to be able to search and analyze the required information, to choose a correct writing style according to the specific writing needs and circumstances (Vacca, 1999). The process of education requires using either expository or narrative information as the source of knowledge on various curriculum subjects. To understand the meaning of a word, to communicate with audiences, to acquire new information, and to use this information to achieve personal goals, children need to possess sound knowledge on what a fiction, and what a non-fiction text is. The five examples of fiction books: Louis Ehlert’s Red Leaf, Yellow Leaf; Mary Hoffman’s Amazing Grace; Jerry Stanley’s Children on the Dust Bowl; Harriette Gillem Robinet’s Children of the Fire; Marya Dasef’s Tales of a Texas Boy. The five examples of non-fiction books: DK Publishing’s Children’s History of the 20th century; Delia Ray’s A Nation Torn: The Story of How the Civil War Began; Anne Millard’s Pyramids; Aliki’s Communication; Russell Freedman’s Children of the Wild West. References Vacca, R. T. (1999). Content area reading: Literacy and learning across the curriculum. New York: Longman.

Succubus Shadows Chapter 2

I tossed and turned the rest of the night. Being visited by a weird supernatural force will do that to you. Besides, I had never fully recovered from the time an ber-powerful entity of chaos had merged with me in my sleep and sucked away my energy. Her name was Nyx, and last I'd heard, she was imprisoned. Still, what she'd done to me – and what she'd shown me – had left a lasting impression. The fact that Roman couldn't identify what had happened tonight was a little unnerving. So, I woke up bleary-eyed, sporting a massive headache that was probably equal parts hangover and sleep deprivation. Succubi had the rapid healing that all immortals possessed, which meant I must have seriously screwed myself up to have these lingering effects. I knew the headache would pass soon, but I took some ibuprofen to help the process. The condo was quiet when I shuffled into the kitchen, and despite my efforts to clean up the food last night, I was still surrounded in the tattered and worn-out feel that followed most parties. Godiva, curled up on the back of the couch, lifted her head at my arrival, but Aubrey continued sleeping undisturbed in her spot on an armchair. I started some coffee and then wandered over to my patio, staring out at the sunny day and the Seattle skyline on the other side of the gray-blue water stretching off before me. A familiar sensation suddenly swept me, like brimstone and red-hot needles. I sighed. â€Å"Kind of early for you, isn't it?† I asked, not needing to turn around to know Jerome, archdemon of the greater Seattle area and my hellish boss, stood behind me. â€Å"It's noon, Georgie,† he replied dryly. â€Å"The rest of the world is up and around.† â€Å"It's Saturday. The laws of time and space are different today. Noon qualifies as early.† I turned around at last, largely because I'd heard the coffee-maker finish. Jerome was leaning against my kitchen wall, immaculately dressed as always in a black designer suit. Also, like always, the demon looked exactly like a circa 1990s version of John Cusack. He could appear as anything or anyone he wanted in this world, but for reasons he kept vague, Mr. Cusack was his preferred shape. I'd gotten so used to it that whenever Say Anything or Grosse Pointe Blank came on TV, I always had to pause and ask myself, â€Å"What's Jerome doing in this movie?† I poured a cup of coffee and held up the pot by way of invitation. Jerome shook his head. â€Å"I suppose,† he said, â€Å"your roommate is also being a sloth and isn't actually out running errands?† â€Å"That'd be my guess.† I doused my coffee liberally with vanilla creamer. â€Å"I used to kind of hope that when he wasn't around, it meant he was out looking for a job. Turns out I was just setting myself up for disappointment.† Honestly, I was glad it was Roman that Jerome had come to see. When Jerome was looking for me, no good ever came of it. It always tended to result in some traumatic, world-threatening event in the immortal underground. I trudged back across the living room, noting that the cats had disappeared upon Jerome's arrival. Coffee still in hand, I headed to Roman's room, knocking once before opening the door. I figured as landlady, I had that right. Also, I'd found Roman had a remarkable ability to ignore knocking for large amounts of time. He was sprawled across his bed, wearing only a pair of navy blue boxers that gave me pause. As I'd noted before, he was terribly good-looking, despite the prickly attitude he'd had since moving in. Seeing him half-dressed always gave me a weird flashback to the one time we'd slept together. Then, I'd have to remind myself that he was probably plotting how to kill me. It went a long way to stifle any residual lust. Roman's arm covered his eyes against the sunlight streaming through his window. He shifted, moving the arm slightly, and peered at me with one eye. â€Å"It's early,† he said. â€Å"Not according to your exalted sire.† A few seconds passed, and then he grimaced as he too sensed Jerome's immortal signature. With a sigh, Roman sat up, pausing to rub his eyes. He looked about as exhausted as I felt, but if there was one force in this world that could drag him out of bed after a late night, it was my boss – no matter Roman's bold claims from last night. He staggered to his feet and moved past me in the doorway. â€Å"Aren't you going to get dressed?† I exclaimed. Roman's only answer was a disinterested wave of his hand as he headed down the hall. I followed him back and discovered Jerome pouring himself a mug of some vodka leftover from last night. Well, it was five o'clock somewhere. He arched an eyebrow when he saw Roman's scantily clad state. â€Å"Nice of you to dress up.† Roman made a beeline for the coffee. â€Å"Only the best for you, Pop. Besides, Georgina likes it.† A moment of heavy silence followed as Jerome's dark eyes studied Roman. I knew nothing about Roman's mother, but Jerome was the demon who had fathered him thousands of years ago. Technically, Jerome had been an angel at the time, but making the moves on a human had got him fired from Heaven and sent off to work for those down below. No severance package. Roman occasionally made snide comments about their familial relationship, but Jerome never acknowledged it. In fact, according to both Heaven and Hell's rules, Jerome should have blasted Roman from the earth ages ago. Angels and demons considered nephilim unnatural and wrong and continually attempted to hunt them to extinction. It was kind of harsh, even with the sociopathic tendencies nephilim tended to have. Roman had been instrumental in saving Jerome recently, however, and the two had struck a deal that allowed Roman to live peacefully in Seattle – for now. If any of Jerome's colleagues found out about this illicit arrangement, there would literally be hell to pay – for all of us. A good succubus would have told on her rule-breaking boss. â€Å"So what brings you here?† asked Roman, pulling up a chair. â€Å"Want to toss the old football around?† Jerome's face remained impassive. â€Å"I have a job for you.† â€Å"Like one that pays the rent?† I asked hopefully. â€Å"Like one that ensures I'll continue to allow him to live in the lifestyle he's accustomed to,† replied Jerome. Roman had an amused, devil-may-care smile on his face that was typical of him, but I wasn't fooled. He knew the threat Jerome represented and also knew that part of their deal involved Roman doing errands for his father. Still, Roman made a good show of acting like he was the one doing Jerome a favor. The nephilim gave an unconcerned shrug. â€Å"Sure. I've got nothing else going on today. What's up?† â€Å"We have a new immortal visitor in town,† said Jerome. If Roman's attitude annoyed him, the demon was just as good at masking his feelings. â€Å"A succubus.† My removed, psychological study of father and son dynamics came to a screeching halt. â€Å"What?† I exclaimed, straightening up so quickly that I nearly spilled my coffee. â€Å"I thought we were set after Tawny.† I'd worked the succubus scene solo around here for years until Jerome had acquired another one several months ago. Her name was Tawny, and while she was annoying and pretty inept as succubi went, there was still something rather endearing about her. Fortunately, Jerome had sent her off to Bellingham, keeping her a comfortable hour-and-a-half drive from me. â€Å"Not that it's any of your business, Georgie, but this one's not here to work. She's here†¦as a visitor. On vacation.† Jerome's lips twisted with bitter amusement. Roman and I exchanged looks. Immortals could certainly take personal vacations, but clearly, there was more to this. â€Å"And?† asked Roman. â€Å"She's really here because†¦?† â€Å"Because I'm sure my superiors want to check up on me after the recent†¦incident.† His words were delicate, with a very subtle warning not to elaborate on said incident. It was the one Roman and I had rescued him from – a summoning that had imprisoned Jerome as part of a demonic power play. Letting yourself get summoned was embarrassing for a demon and could call his territorial control into question. Hell sending someone to survey the situation wasn't that crazy. â€Å"You think she's spying to see if you can still run things?† asked Roman. â€Å"I'm certain of it. I want you to follow her around and see who she reports back to. I'd do it myself, but it's better if I don't appear suspicious. So I need to stay visible.† â€Å"Lovely,† said Roman, voice as dry as his father's. â€Å"There's nothing I want to do more than trail a succubus around.† â€Å"From what I hear, you're pretty good at it,† I piped in. It was true. Roman had stalked me invisibly a number of times. Lesser immortals like me couldn't hide the telltale signature that wreathed all of us, but Roman had inherited that ability from Jerome, making him the perfect spy. Roman shot me a wry look, then turned back to Jerome. â€Å"When do I start?† â€Å"Immediately. Her name is Simone, and she's staying down at the Four Seasons. Go there and see what she does. Mei will relieve you off and on.† Mei was Jerome's second-in-command demon. â€Å"The Four Seasons?† I asked. â€Å"Is Hell paying for that? I mean, we're in a recession.† Jerome sighed. â€Å"Hell's never in a recession. And I didn't think your droll commentary started until after you'd finished your coffee.† I showed him my cup. It was empty. Jerome sighed again and then vanished without warning. He apparently had no doubts that Roman would follow his orders. Roman and I stood there for several quiet seconds, during which both cats resurfaced. Aubrey rubbed against Roman's bare leg, and he scratched her head. â€Å"Guess I should shower and get dressed,† he said at last, rising to his feet. â€Å"Don't trouble yourself,† I said. â€Å"And won't you be invisible anyway?† He turned his back to me and walked off down the hallway. â€Å"I was thinking of dropping off some job applications when Mei gives me a break.† â€Å"Liar,† I said. I don't think he heard. It wasn't until the shower kicked on that I realized I should have asked Jerome about that weird sensation last night. It was so odd; I didn't even know how to describe it. The more I pondered it, the more I wondered if it had been alcohol-induced. Admittedly, Roman claimed he'd sensed something, but he'd drank as much as me. And speaking of jobs†¦my kitchen clock was telling me I needed to head off to mine. One thing about this condo was that the skyline view had come at the cost of work convenience. My old apartment had been in Queen Anne, the same neighborhood that Emerald City Books and Caf? ¦ resided in. I used to be able to walk to work, but that was impossible from West Seattle, meaning I had to allow commuting time. Unlike Roman, I had no need to physically shower and change – not that I wouldn't have liked to. I found human routines comforting. A brief burst of succubus shape-shifting cleaned me up, putting me in a work-appropriate peach sundress and arranging my light brown hair into a loose bun. Roman didn't surface before I had to leave, so I grabbed another cup of coffee and left him a note asking if it would kill him to take out the garbage before he went off to play secret agent. My headache and the last effects of the hangover were gone by the time I walked into the store. It was abuzz with late afternoon shoppers, people out running Saturday errands and tourists who had wandered over from the Space Needle and Seattle Center down the street. I dropped my purse off in my office and then did a managerial sweep of the store, satisfied that everything was running smoothly – until I noticed we had a line of eight people and only one cashier. â€Å"Why are you alone?† I asked Beth. She was a long-time employee and a good one, answering my question without even looking up from her customer's order. â€Å"Gabrielle's on break, and Doug isn't†¦feeling well.† Memories of the vodka competition came back to me. I grimaced, feeling both guilty and smug. â€Å"Where is he?† â€Å"Over in erotica.† I felt my eyebrows rise but said nothing as I turned away and walked across the store. Our small erotica section was bizarrely stuffed in between automotive and animals (amphibians, to be precise). And crammed in between the two shelves of the erotica section was Doug, sitting on the floor with his head resting facedown on his knees. I knelt beside him. â€Å"Hair of the dog time?† I asked. He lifted his head and brushed black hair out of his face. His expression was miserable. â€Å"You cheated. You're like half my size. How are you not in a coma?† â€Å"Older and wiser,† I said. If only he knew just how old. I took hold of his arm and tugged it. â€Å"Come on. Let's go to the caf? ¦ and get you some water.† For a moment, he looked like he'd resist, but a valiant effort soon followed. He even managed not to stagger too much as I led him to the store's second floor, which was half books and half coffee shop. I grabbed a bottle of water, told the barista I'd pay for it later, and started to drag Doug to a chair. As I scanned around, I nearly came to a halt, causing poor Doug to stumble. Seth was sitting at a table, laptop spread open in front of him. This was his favorite place to write, which had been nice when we dated and now was†¦awkward. Maddie sat with him, purse in hand and light coat on. I recalled that we started at the same time today. She must have just arrived. They waved us over, and she gave her brother a chastising look. â€Å"Serves you right.† Doug took a long gulp of water. â€Å"Whatever happened to sisterly love?† â€Å"I still haven't forgiven you for the time you shaved my dachshund.† â€Å"That was like twenty years ago. And that little bastard had it coming.† I smiled out of habit. Doug and Maddie's bantering was usually must-see TV for me. Today, Seth held my attention. It had been easier to ignore him last night while in the throes of alcohol, easy to pretend I'd grudgingly accepted him moving on to Maddie. But now, in the cold light of sobriety, I felt that old ache stir within my chest. I swore I could smell the scent of his skin, his sweat mingled with the woodsy apple soap he used. Sunlight from the caf? ¦'s large windows infused his messy brown hair with copper, and I could perfectly recall what it had been like to stroke the lines of his face, the smooth skin of his upper cheek and stubble on his chin. Looking up to his eyes, I was surprised to see his attention on me as the siblings continued their playful bickering. I'd almost convinced myself last night that he only thought of me as a friend, but now†¦now I wasn't so sure. There was something warm there, something considering. Something I knew shouldn't be there. I suddenly had a sneaking suspicion that he might be remembering the handful of times we'd had sex. I was thinking of it too. My powers had been shut off when Jerome disappeared, and Seth and I had been able to have â€Å"safe† – by which I meant, no succubus side effects – sex. Except for one. He'd still been dating Maddie at the time, and cheating on her had tainted his soul with sin. That was worse than if I'd sucked his energy away. As of this moment, Seth was a Hell-bound soul. He didn't realize that, but regret for betraying her was part of what had spurred him to a hasty engagement. He felt he owed her. The guilt forced me to look away from him, and I noticed then that Maddie and Doug had stopped their arguing. Maddie was glancing over at the coffee counter, but Doug's eyes were on me. They were bloodshot and weary, with heavy dark circles. But in the midst of that miserable, hungover look†¦there was a glint of something puzzled and surprised. â€Å"Work time,† said Maddie cheerfully, standing up. She poked her brother's shoulder, making him wince and turn his attention from me. I was glad. â€Å"You going to survive your last couple hours?† â€Å"Yeah,† he muttered, drinking more water. â€Å"Go count inventory in the back,† I told him, standing as well. â€Å"I don't want customers thinking our staff can't hold their liquor. They'd be over at the chain stores so fast, it wouldn't even be funny.† Maddie's lips quirked into a smile as her brother wearily rose to his feet. â€Å"Hey, Georgina. Do you mind if Doug and I switch shifts on Tuesday? I need to go run some wedding errands during business hours.† Doug cut her a look. â€Å"When were you going to ask if I minded?† â€Å"Sure,† I said, trying not to wince at the word â€Å"wedding.† â€Å"You can work the night shift with me.† â€Å"You want to come along?† she asked. â€Å"You said you would.† â€Å"I did?† â€Å"Last night.† I frowned. God only knew how many promises I'd made and had now forgotten, thanks to vodka and weird magical forces. Vaguely, I recalled her showing me wedding pictures. â€Å"I think I have some errands of my own to run.† â€Å"One of the places is right around the corner from you,† she urged. â€Å"Maddie,† said Seth hastily, clearly as uncomfortable with this change of topic as I was. â€Å"If she's busy – â€Å" â€Å"You can't be busy all day,† Maddie begged. â€Å"Please?† I knew it was disastrous, knew it would be courting heart-ache and trouble. But Maddie was my friend, and the pleading look in her eyes did something to my insides. It was guilt, I realized. Guilt over how Seth and I had betrayed her. Her expression now was full of such faith and hope in me – me, the best friend she had in Seattle and the only one she believed could help her plan this wedding. Which is why I found myself agreeing, just as I had last night. Only this time, I had no alcohol to blame. â€Å"Okay.† Guilt was probably the worst culprit of all when it came to stupid behavior.