Can Tourism Be Sustainable En the 21st Century

Would tourism be able to BE SUSTAINABLE IN THE TWENTY FIRST CENTURY ? The travel industry is one of the biggest business of the world in the 21st century, before the oil business and the vehicle business. It is an indispensable segment for a great deal of nations as it produces employments and riches. By and by, Tourism can likewise induce natural, social, and social corruptions as an ever increasing number of individuals travel all around the globe. There was approximately 935 million of sightseers in 2010, and there will be 1. 6 billion vacationers in 2020 as indicated by the World Tourism Organization.This tremendous progression of visitors has without a doubt a great deal of effects on the earth, on the neighborhood populaces or on the economy. Besides, the worldwide populace is progressively developing and the topic of assets accessible is vital and has gotten a matter of worldwide concern when improvement happens in a period of globalization. Since the travel industry continu es expanding, this is important to discover approaches to make the travel industry progressively reasonable. The topic of manageable improvement has become a significant issue of the 21st century prominently because of the atmosphere change.While the first call for reasonable advancement in Bruntland Report (which objective was to join nations to seek after maintainable advancement together) talked about the use of the standards, the travel industry was not extraordinarily discussed’ (Hall, 1998) Yet, there has been an expanding acknowledgment of the job that travel industry could play in practical turn of events. As it is a main impetus of the economy and a ground-breaking instrument of improvement, it has a task to carry out to constrain its negative effects whether they are social, ecological or economic.That is to state, embracing the standards of supportable advancement to the travel industry. ‘Sustainable the travel industry is an expansion of the idea of practica l development† (J. Swarbrooke, 1999). The feasible improvement is characterized in the Bruntland Report as’ an advancement which addresses our issues today without trading off the capacity of individuals later on to meet their needs’. Along these lines, economical the travel industry likewise manages long haul reasonability. The objective of supportable the travel industry is to monitor characteristic legacy and biodiversity, so the people in the future will appreciate the natural resources.It likewise needs to regard the social legacy and conventional estimations of host networks and empower them to profit by the preferences made by the travel industry, to make an equivalent appropriation of advantages from the travel industry conceivable. The difficulties are to accommodate the travel industry and regard of the ecological, financial and social measurements to limit the financial negative externalities of the travel industry. So would tourism be able to be feasi ble in the twenty-first century? I Successful initiativesSustainable the travel industry is a mind boggling idea which is a piece of a worldwide framework and can't be handled in disengagement explicitly, monetarily or transiently (Munt2003), it requires the execution of various measures and activities. We can accomplish supportable the travel industry if various entertainers know about the circumstance and prepared to take measures so as to improve things. A few culminations and sets of principles did show the developing enthusiasm for practical the travel industry and endeavors made to accomplish it. Rio Summit in 1992 ,The Global Code of Ethics for the travel industry or AGENDA 21 for the Travel and Tourism Industry Towards Environmentally Sustainable Development†¦) They give proposals on the use of supportable improvement to the travel industry. The help and participation of the private and open division are required to make economical the travel industry conceivable. Every single significant partner need to work in organization to build up a typical supportable the travel industry system (Hall, 1998). All entertainers engaged with the procedure need to take an interest for each level: neighborhood, territorial, national.As the travel industry is a piece of a worldwide framework, manageability must be accomplished in all parts since they are reliant. (Lobby, 1998) â€Å"Since the 198Os, there has been a developing enthusiasm for the moral gauges of organizations. Open and political weight has been developing for organizations to act all the more morally comparable to a scope of issues† (J. Swarbrooke, 1999) For example, the ‘Club Med’, a French enterprise of get-away set a contract of reasonable the travel industry to ensure earth amicable practices and to participate to the neighborhood financial advancement in a moral manner.To address the antagonistic effects of the travel industry, new choices to mass the travel industry are gr own, for example, green the travel industry or ecotourism which is a dependable travel to characteristic zones that preserves the earth and improves the prosperity of nearby people† (International Ecotourism Society, 1990) Besides some fruitful measures are taken to confine touristic stream. For example to see orang utans in parks in Tanzania, guests need to follow through on a significant expense: 235 pounds which empower to control the surge of explorers. Also, cash produced by the travel industry will assist with protecting parks as it is put resources into the parks for the conservation of the orangs utans .II Yet even some effective activities exist, some advancement stay to be made First, an ever increasing number of administrators are utilizing those terms ‘sustainable tourism’ as another pattern. It is an approach to separate themselves from contenders with just business inspirations. (Munt, 1998) Sustainable the travel industry needs to adjust to each env ironment’ as every region is entirely unexpected regarding geology, biological system, social structure and economy, it is improbable that the conveying limit will be the equivalent in any two spots, so its application in wherever is totally different to forecast’. J. Swarbrooke, 1999) Besides, when an activity is executed it is difficult to pass judgment on the off chance that it is extremely reasonable. An activity can be made a decision about maintainable or not after an extensive stretch of time when it is demonstrated that the improvement of the movement ‘has not preferential the necessities of what were people in the future when the advancement started ‘(Hall, 1998) most of pundits concede to the way that mediation is expected to accomplish feasible the travel industry .Nevertheless, open area guideline isn't simple in when there is a great deal if privatization We by and large contradict mass the travel industry to some elective types of the travel i ndustry. For instance, ecotourism isn't really increasingly manageable if ecotourism â€Å"grows to a mass scale† it will show all the attributes of mass the travel industry. (J. Swarbrooke, 1999) â€Å" We have seen that an association is required to accomplish reasonable the travel industry however the travel industry and neighborhood networks can have clashing requirements.And the host networks are normally insufficient solid to make their voice heard contrasted with the intensity of the travel industry. The Maldives is illustrative of both positive and negative effects incited by the travel industry. The travel industry represents 30 % of the Maldives GDP. Each vacationer items a normal of 7. 7 pounds of waste every day. With the improvement of the travel industry, the administration has chosen to forfeit one of the island and to make it the container of the archipelago. The island develops of a square meter for each day.For sightseers, the trash stays imperceptible. Con tamination is turning out to be most exceedingly terrible and regular the seabed is adjusted. Boats empty 3OO huge amounts of trash regular, which are dumped on the floor with no waste arranging. There are some poisonous waste material which dirty the ocean yet in addition imperil the life of dustmen. Practical the travel industry is an unpredictable undertaking since key ideas are interrelated, it is about partners whose interests must be adjusted. To prompt extraordinary social, financial and natural advantages, economical the travel industry is required.A the travel industry awful oversaw can have negative results and have a biased impact or even ruinous on the social and ecological measurements. What's more, the total arrangement of effects must be estimated at a worldwide scale or we can't would like to accomplish total manageability at anything short of this scale† (Hall, 1998) Furthermore, to be genuinely maintainable, the travel industry needs to give more consideratio n to the social measurement since we generally center more around the ecological measurement. Touristic exercises need to contribute towards the monetary turn of events and improves the personal satisfaction of neighborhood populations.Tourism makes some pessimistic effects, yet the job of the reasonable the travel industry is to attempt to restrain them. With the goal that the outcomes the travel industry has on biodiversity, common assets or the measure of waste keep adequate. Possibly â€Å"truly feasible the travel industry can presumably never be accomplished however it stays a perfect that we should flourish to attain† (Hall, 1998) BIBLIOGRAPHY Books C. Michael Hall and Allan A. Lew, 1998, Sustainable Tourism a Geographical Perspective, Pearson, Essex M. Mowforth and I.Munt, 2003, Tourism and Sustainability, Routledge, London W. Diminish ,H. Loot, G. Tonny, , 2002, Sustainable Tourism a Global Perspective, Elvesier Butterworth-Heinemann, Italy J. Swarbrooke, 2005, Susta inable Tourism Management, Cabi Publishing, Cambridge Web website † http://www. unep. fr/scp/the travel industry/continue/http://www. alpesolidaires. organization/tourisme-solidaire-la-rencontre-avant-tout http://www. globalsustainabletourism. com/Events/48-2012-World-Tourism-Day-WTD-Tourism-and-Sustainable-Energy-Powering-Sustainable-Development. html

Johann Sebastian Bach Essay -- Composer Musician Bach Essays Bio

Johann Sebastian Bach Johann Sebastian Bach was a German organist, writer, and melodic researcher of the Baroque time frame, and is all around viewed as perhaps the best author ever. His works, noted for their scholarly profundity, specialized order, and imaginative magnificence, have given motivation to about each artist after him, from Mozart to Schoenberg. J. S. Bach was conceived in Eisenach, Germany, March 21, 1685. Bach’s uncles were all expert artists going from chapel organists and court chamber performers to arrangers. His dad, Johann Ambrosius Bach, was the town flute player in Eisenach, a post that involved arranging all the mainstream music around just as partaking in chapel music at the course of the congregation organist (p. 309, The New Grove Dictionary of Music and Musicians, Vol. 2). Bach was the most youthful child of Ambrosius Bach and presumably took in the basics of melodic hypothesis and how to play the violin from him (p104, The International Cyclopedia of Music and Musicians). Bach's mom kicked the bucket when he was as yet a little fellow and his dad abruptly died when J. S. Bach was 9, at which time he moved in with his more seasoned sibling Johann Christoph Bach, who was the organist of Ohrdruf, Germany (p105, The International Cyclopedia of Music and Musicians). While in his sibling's home, J. S. Bach kept replicating, contemplating, and playing music. As indicated by one mainstream legend, late one night, when his sibling was sleeping, he found an assortment of works by Johann Christoph's previous coach, Johann Pachelbel, and started to duplicate it by the twilight. This went on consistently until Johann Christoph heard his sibling playing a portion of the particular tunes from his private library, so, all in all he requested to know how Sebastian had come to learn them (www.sfsymphony.org/layouts/arranger). It was at Ohrdruf that Bach started to find out about organ building. The Ohrdruf church's instrument was in steady need of minor fixes, and youthful J. S. Bach was frequently sent into the gut of the old organ to fix, change, or supplant different parts. This hands-on involvement in the innards of the instrument gives a decent clarification to his unmatched aptitude at playing the organ (p. 11, Classical Music, the Rough Guide). From 1700 to 1702 he went to St Michael's School in Lã ¼neburg, where he sang in the congregation ensemble. After compet... ... new measurements in for all intents and purposes each branch of imaginative work to which he turned, in group, melodic quality and specialized requests (p. 22, Classical Music, the Rough Guide). His music was mind boggling to such an extent that numerous experts have revealed layers of strict and numerological essentialness that is once in a while found in the music of different writers. Bach’s chorale harmonizations and fugal works were before long embraced as models for new ages of performers. Bach was the last incredible agent of the Baroque time during a time which was at that point dismissing the Baroque tasteful for another, edified one (www.sfsymphony.org/layouts/author). List of sources â€Å"Johann Sebastian Bach,† http://www.sfsymphony.org/formats/arranger. Newman, Ernest â€Å"Bach, Johann Sebastian.† The International Cyclopedia of Music and Musicians, 1985, eleventh Edition, pp. 102-108 Sadie, Stanley â€Å"Bach, Johann Sebastian.† The New Grove Dictionary of Music and Musicians, 2002, Vol. 2, pp. 309-346 Slonimsky, Nicolas â€Å"Bach, Johann Sebastian.† Baker’s Biographical Dictionary of Musicians, 2001, Vol. 1, pp. 161-172 Staines, Joe â€Å"Bach, Johann Sebastian.† Classical Music, the Rough Guide, 1998, pp. 11-22

How music affects teenagers free essay sample

Music has been influencing individuals since the very beginning. Studies appear, in any case, that music is more compelling than some other amusement media. For a scope of reasons, for example, temperament changes, tranquilize/liquor use, and savagery/conduct, science shows that music has the most effects on teenagers more than grown-ups. In this paper, I will investigate every one of these reasons. Maybe the most huge influence music has on teenagers is temperament changes. Music influences states of mind from multiple points of view. For instance, on the off chance that you are dismal, a few people can hear a tune, that is upbeat and it makes them need to move and their mind-set changes definitely, inside the flicker of an eye. Different occasions, music can have the contrary impact. Somebody can be cheerful, hear a melody, at that point they can be crushed on the grounds that the tune brought to surface grievous or hysteric recollections. Great music has direct access to the feelings. It is an incredible instrument for tweaking our states of mind. Research has indicated that, through music, temperament can be adjusted and controlled and amazing feelings can happen. New York Times writer Tara Parker Pope states, â€Å"Unlike visual media, music is an incredible social power that likewise takes advantage of an individual’s individual personality, recollections and mind-set. † Music is an immense piece of teen’s every day experience nowadays, it isn't something handily turned away. They are unquestionably going to participate in it. Oxford writer Oliver Sacks composes that â€Å"We go to music; we need it, in view of its capacity to move us, to initiate emotions and mind-set, perspective. † As said by Oliver Sacks, music influences everything from temperaments to mind. Craftsmen are getting less worried about the impact they have on youthful grown-ups, thinking about the measure of medication/liquor references they put into their tunes. Clearly, tunes that ensnare sedate/liquor use sell the best. Tara Parker-Pope expresses that: Researchers from Pittsburgh School of Medicine, contemplated the 279 most famous tunes from 2005, in light of reports from Billboard Magazine, which tracks well known music. Regardless of whether a tune contained a reference to medications or liquor fluctuated by sort. Just 9 percent of pop melodies had verses identifying with medications or liquor. The number hopped to 14 percent for rock tunes, 20 percent for RB and hip-jump melodies, 36 percent for blue grass tunes and 77 percent for rap tunes. Obviously, rap has the high ground and considering most notable specialists are of the rap game, teenagers will in general hear them out additional. â€Å"One of the most emotional impacts of music’s is the enlistment of daze states, which have been portrayed by ethnomusicologists in about each culture† said Oxford writer Oliver Sacks. Teenagers appear as though they will effectively show their love for the craftsman, for example, taking medications or drinking liquor. They trust it will make them well known whether they do the things these melodies and specialists are discussing. Specialists in the music business need to exploit how well known they and their tunes are, and begin putting out positive messages. Rather, they exploit what sells the best or what melody gets the most hits and likes. Do they not comprehend what their verses are doing to the pre-adult? Their melodies utilize medications and alcohols appear to be cool, fun and hip. When, as a general rule, it is executing our populace. In a perfect world, we believe that music doesn't advance brutality and social issues for youngsters. Consistently, there is a child out there that is influenced by music. â€Å"The impact of music on society can be obviously observed from current history. Music helped Thomas Jefferson compose the Declaration of Independence. At the point when he was unable to make sense of the correct wording for a specific part, he would play his violin to support him. The music helped him get the words from his cerebrum onto the paper,† (1) guide Lawrence O’Donnell, columnist for Brain and Mind online paper. Not all music has negative impacts, as should be obvious. â€Å"Through sound-related methods people are impacted by sounds or large numbers of sounds which make up music which at that point may influence the body, the brain, correspondence, disposition, and social parts of life† states Amber Johnson writer for California State University, Northridge (1). Music can spellbind the psyche and make teen’s think they are a person or thing very surprising than what they are. It locks on to their cerebrum and changes them into this individual they never longed for being; doing things they never realized they were able to do. A wide range of music convey essentially a similar message, just in various structures. The main explanation youngsters make trouble is that they feel as though they need to. Doing as the tune or craftsman says gives youngsters a since of expectation, that possibly one day they can resemble the craftsman. Young people are youths, it is hard enough for guardians to control their youngsters, including melodies in with the general mish-mash that discussion about viciousness makes adolescents need to get rowdy, and do insane things. â€Å"In the seventies, for instance, one of Bob Marley’s generally well known and tuned in to melodies, ‘I shot the sheriff’, was exceptionally famous and didn't incite such viciousness. Then again, the verses of Ice T’s ‘Cop killer’ in the late spring of 1992 evoked a noisy clamor and most warmed debate,† said Amal Saleeby essayist for NDU, Louaize. Many years of research have exhibited that presentation to brutality in music can cause increments in animosity and conduct issues. â€Å"Studies have since quite a while ago indicated that media messages have articulated effect on youth hazard behaviors,† says New York Times writer, Tara Parker-Pope. All in all, disposition changes, tranquilize/liquor use, and the expansion in viciousness/conduct issues, in teen’s lives, are unmistakably influenced by music. â€Å"Our sound-related frameworks, our sensory systems, are tuned for music† says Oxford Journalist Oliver Sacks. Notwithstanding your religion, foundation or ethnicity, music is all over the place and everybody is affected by it.

Write Cause and Effect Essay Topics Features

Write Cause and Effect Essay Topics Features The Nuiances of Write Cause and Effect Essay Topics The cost of an essay depends upon the quantity of effort the writer has to exert. The important point to a thriving essay is having the proper structure. The middle portion of the essay is its physique. Bear in mind that the start of your essay ought to be impressive to continue to keep your audience glued to your paper. Keep asking questions until you're satisfied you've identified all the causes or effects that are associated with your topic. You're welcome to speak to us in case you have any questions. Clear instructions with the right planning starts with a particular subject. In case the topic is selected correctly it'll be successful among the reader and cause a great deal of discussions. What You Should Do to Find Out About Write Cause and Effect Essay Topics Before You're Left Behind In everyday life you've already employed the fundamentals of analysis of causes or ef fects. The next step is going to be to choose whether you need to talk about causes or effect of something. A sufficient cause is one which has the capacity to create a certain sort of effect independently but may not be the sole supply of inducing the designated cause and might or might not be accompanied by other causes. As a consequence, you'll have serious consequences. It's essential that the causes are associated with the effects, particularly if you are writing a chained cause and effect paper. What's more, you must make sure your causes are in fact linked to their effects. Don't forget, you'll have to mention real causes or effects. It is crucial to be aware that sometime, many causes result in a single effect or many effects might actually be from 1 cause. The 5-Minute Rule for Write Cause and Effect Essay Topics Anyway, it's up to you to choose so just listen to have heart and select the topic it'll be interesting that you write. Cause and effect is a typical approach to organizing and discussing ideas. When you search for information what is a cause and effect essay, you can run into such notion for a thesis statement. Since you may see, defining some causes and effects provides you with several possible essay topics. Write Cause and Effect Essay Topics for Dummies Your paper must contain no more than the essential information. A th esis statement tells the most important idea of the paper and is generally put in the introduction. Writing an academic paper may prove to be a true hell in case you have not required knowledge of doing it. Write Cause and Effect Essay Topics Can Be Fun for Everyone You should be quite much careful when writing the key arguments of the essay. Descriptive essay outline it's, therefore, essential and can help you choose the reach of an essay whilst also developing points for the essay. The thesis is going to be a statement that the full essay will work to show through logic and fact. The thesis of any essay is the most essential part of the essay. What Does Write Cause and Effect Essay Topics Mean? Our professional writers are pleased to help you with any cause and effect project that you want to get written. Broadly speaking, there are 3 varieties of cause and effect essays. You also need to right down the related impacts of the factor, if any. In a brief essay, it may be hard to tackle the reason and all the many effects of a huge event like the Great Depression. Top Write Cause and Effect Essay Topics Choices In the majority of instances, the info you already have won't be sufficient to compose a detailed, captivating paper, that's the reason you'll be asked to perform research to acquire as much additional information as you are able to. This kind of approach is likely to make your document shine as a diamond. In the event you don't understand how to ready the essay, you will need to find useful tips which might be of excellent assistance to you. In the event you need your customized cause and effect essay achieved by a non-native English speaker, you will earn that option and we're going to offer you a writer best suits your writing needs. You're strongly recommended to supply an extremely in depth instruction on essay topic and requirements. Look through all your tips for cause and effect essays, and be certain you have selected the idea l topic and revealed it properly. In the beginning, it may seem that it's a good idea to select this issue by yourself. Narrowing the topic is a significant skill in all sorts of writing including cause and effect essays. Academic essay writing requires not just a student's capacity to demonstrate the quantity of knowledge, yet to concentrate on his feelings and thoughts. Writing about the reason and effect essay topics related to the school's popularity or surviving the initial year in college could possibly be fine to grab the interest of your peers. Therefore, students should know how to compose the correct paper. Therefore, many students and employees decide to purchase low-cost essay rather than writing it themselves. Get the Scoop on Write Cause and Effect Essay Topics Before You're Too Late Once more, based on the content you need to provide, the essay ought to be organized to suit your information efficiently and neatly. Citations and extracts from several sources have to be formatted properly. In the event of cause and effect essays which are usually utilised to estimate the reasoning capability of students, it's extremely important to connect all the statements to produce a meaningful essay. There are several kinds of signal words that can be utilized in this kind of essay.

Memory Failures And Pilot / Atc Performance Errors

Memory failures and pilot/ATC performance errors In the aviation sector, incident analyses as well as interview data show that pilots and air traffic controllers (ATC) at times fail to accomplish intentions (Byrne, 2003; Dismukes Nowinski, 2006; Nowinski, Holbrook Dismukes, 2003; Shappell Wiegmann, 2005; and Shorrock, 2005). For example, some recent reports have shown how two pilots flew around 100 miles beyond their intended destination since they were unable to recall interrupting other continuing activity in their memory to start aircraft descent. In this literature review, it will analyze whether a single root cause of memory failure can be ascertained in pilot/ATC performance errors and to which degree it would be recognized. Five literature reviews which attempt to answer this question will be reviewed and shown how (if) they (can) support the hypothesis. Reason’s human errors taxonomy The principal theoretical paradigm in the area of errors is that suggested by Reason (1990). Reason categorizes errors into two forms: ‘mistakes’ that are the outcome of forming an incorrect intent to act, and ‘slips,’ or failures to properly execute a plan. Reason widened the scope of previous error definitions and further differentiated basic types of errors. He further differentiated between violations and mistakes, both are the errors of intent-mistakes emerge from inappropriate aim or incorrect diagnosis of situations. Reason’s theory offers a clear understanding on howShow MoreRelatedA Brief Note On The Aviation Safety Of Aviation Accidents1826 Words   |  8 Pagesassociated with human performance. Psychological factors have a key role in a pilot’s everyday responsibility. Some of these traits include: perception, memory, attitude, judgment and decision making, as well as ego (Rodrigues Cusick, 2012, p. 158-160). These qualities can ha ve drastic effects in commercial aviation if they are not recognized and adjusted accordingly. In this paper I will respond to some questions that are raised in aviation safety: 1.) Can we stop the amount of human errors in aviationRead MoreOpening Our Eyes to Fatigue and Its Role in the Crash of American Airlines Flight 14201772 Words   |  7 Pagesbe a contributing factor in the accident. This constitutes an average of over three accidents per year as a result of flight crew fatigue. The crash of American Airlines Flight 1420 in Little Rock, Arkansas, on 01 June 1999 cited impaired crew performance resulting from fatigue as being the most prevalent of three factors leading to the disaster. After touchdown, the MD-82 failed to stop before the end of the runway and struck part of the ILS localizer array, plowed through a chain link securityRead MoreCfi Oral Plan of Action17474 Words   |  70 PagesFlight Instruments, and Navigational equipment Instrument Cockpit Check Air Traffic Control Clearances Lost Communications Schedule: FOI 0:15 Review 0:45 Technical subject areas 1:00 Equipment: Dry erase board, markers, Pilot Operating Handbook (POH), Aviation Weather Services, PHAK, FAR/AIM. Instructors Actions: Discussion of lesson objective and elements relating Fundamentals of Instruction, Review topics, and technical subject areas. Students Actions: ParticipateRead MoreControlled Flight Into Terrain Essay3548 Words   |  15 Pageswater in which there was no detectable mechanical or equipment failure, where the pilot was in control of the aircraft but lost situational awareness and flew into terrain. (Bensyl, Moran, Conway, 2001, pg 1037) According to the National Transportation Safety Board (NTSB), the Federal Aviation Administration (FAA) and the Flight Safety Foundation (FSF), CFIT can be caused by many factors. Nevertheless, it is primarily caused when a pilot or flight crew is unaware that a dangerous situation exists.Read MoreHuman Factors in Aviation8517 Words   |  35 Pagesperforated ear drum could occur if a) you were subjected to continuous noise below 8 kHz b)you blew your nose excessively c) you were subjected to intermittent noise above 25 kHz Answer:a This is exam number 2. 1. How long is the short term memory good for remembering 7 items? a) Up to 30 seconds b)30 to 60 seconds c) Above 60 seconds Answer:a 2. What is peer group pressure? a) The influence the House of Lords have over the House of Commons b)Our behaviour influenced by our friends andRead MoreEASA Modul 9 questions12203 Words   |  49 PagesOption B.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Health and Safety.  Ã‚  Ã‚  Ã‚  Ã‚   Option C.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Human error.  Ã‚   Correct Answer is.  Ã‚  Ã‚  Ã‚  Ã‚   Health and Safety.  Ã‚  Ã‚  Ã‚  Ã‚   Explanation.  Ã‚  Ã‚   CAP 715 Ch.9 (1st Para.). Question Number.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   6.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The incident where a 737 lost oil from both engines is a direct result of.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Option A.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   poor design.  Ã‚  Ã‚   Option B.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   human error.  Ã‚  Ã‚   Option C.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   engine vibration.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Correct Answer is.  Ã‚  Ã‚  Ã‚  Ã‚   human error.  Ã‚  Ã‚   Explanation.  Ã‚  Ã‚   CAP 716 Ch.4 Para.5.4.2 and App.F Para.1

Essay on Hells Kitchen and the Capeman Murder - 1185 Words

Hells Kitchen and the Capeman Murder Hells Kitchen is the section of Manhattan that is between 34th and 59th Streets and from 8th Avenue to the Hudson River. It was the home of New Yorks most dangerous criminals from the early tenement days to Prohibition to the Westies. The population consisted of poor people who lived in a disorderly fashion and expressed themselves with a demanding spirit. Mayhem and reports of criminal homicide from the late nineteenth century on supply a good idea of daily life in Hells Kitchen. These reports illustrate a neighborhood full of crime, poverty, religious worship, hard work and family commitment. Vampires, Dragons, and Egyptian Kings divided by race, ethnicity, and neighborhood boundaries†¦show more content†¦Second, during the drafting of the Civil War there was a lot of chaos and many fatal riots against the rich because they were able to buy there way out of the war, including the protest of the Conscription Act. Differences in the beliefs of these people led to a se gregated community and the creation of gangs had begun. The first neighborhood gangs were formed by the massive amount of children (often referred to as sea urchins) that became homeless after the Civil War. The Dutch Heinrichs led the 19th Street Gang and it was known as one of the most infamous cliques around. They commanded tribute from factory owners and merchants, they broke into houses and they abused and robbed strangers. The gangs leader -- Dutch Heinricks -- was incarcerated after attacking a police Captain. Thereafter came the Gophers, who were targeted for arrest after the slaying of a man named William Lennon in a bar at 45th Street and 11th Avenue, and the Dead Rabbits who lived in the filthy tenements west of 7th Avenue in the 20s and 30s. By the 1900s, 36th Street to 59th Street west of 9th Avenue became an area of dirty tenements and factories forming a depressing and dark neighborhood that carried out the nature of slum life. The murder rate (often committed by gang members) in this section of the city continuously multiplied. The practices of the local criminal and the Westies gang in the middle of theShow MoreRelatedGang Violence in New York as Presented by West Side Story958 Words   |  4 Pagesstories about these gangs in the news as well as more public awareness. One of these stories broke out during the musical’s Broadway run in 1959. In a public park in Clinton and Midtown West (also known as Hell’s Kitchen), there was a brutal murder of two young teenagers. The specific location the murders took place was between 45th and 46th streets. There were some white teenagers on the playground, and when a group of boys from three different gangs (The Vampires, the Young Lords, and the Heart Kings)

Capital Asset Pricing Model and Cost free essay sample

What is the WACC and why is it important to estimate a firm’s cost of capital? Do you agree with Joanna Cohen’s WACC calculation? Why or why not? Answer: The cost of capital refers to the maximum rate of return a firm must earn on its investment so that the market value of companys equity shares will not drop. This is a consonance with the overall firms objective of wealth maximization. WACC is a calculation of a firms cost of capital in which each category of capital is proportionately weighted. All capital sources common stock, preferred stock, bonds and any other long-term debt are included in a WACC calculation. All else equal, the WACC of a firm increases as the beta and rate of return on equity increases, as an increase in WACC notes a decrease in valuation and a higher risk. The WACC of a firm is a very important both to the stock market for stock valuation purposes and to the companys management for capital budgeting purposes. In an analysis of a potential investment by the company, investment projects that have an expected return that is greater than the companys WACC will generate additional free cash flow and will create positive net present value for stock owners. Thus, since the WACC is the minimum rate of return required by capital providers, the managers in the company should invest in the projects which generate returns in excess of WACC. We do not agree with Joanna Cohen’s calculation regarding the WACC from 3 aspects: 1) When Joanna Cohen computed the weights or proportions of debt and equity, she used the book value rather than the market value. The book values are historical data, not current ones; on the contrary, the market recalculates the values of each type of capital on a continuous basis, therefore, market values are more appropriate. ) The cost of debt should not be calculated by â€Å"taking total interest expense for the year 2001 and dividing it by the company’s average debt balance. These historical data would not reflect Nike’s current or future cost of debt. 3) She mistakenly used the average Beta from year 1996 to 2001. The average Beta could not represent the future systemic risk, and we should find the most recent Beta as Beta estimate in this situation. 2. If you do not agree with Cohen’s analysis, calculate your own WACC for Nike and be prepared to justify your assumptions. Answer: 1)Weights of equity and debt: In 1997 Nike’s revenues plateaued around $9 billion while net income had fallen from around $800 million to $580 million. Also, from 1997-2000 Nike’s market share in U. S. athletic shoes fell from 48% to 42%. Supply-chain issues and the adverse effect of a strong dollar had negatively affected revenue in recent years. At the June 28, 2001 analyst meeting Nike planned to add both top-line growth and operating performance. One goal was to develop more mispriced ($70-$90) athletic shoes and the other to push its apparel line. At this meeting a target long-term revenue growth rate between 8%-10% was given and an earnings-growth target above 15%. After reviewing all the analysts’ reports about the June 28th meeting Ford still did not have a clear picture of how to value Nike. Ford then performed her own sensitivity analysis which revealed Nike was undervalued at discount rates below 11. 17%. WHAT IS THE WACC? A firm derives its assets by either raising debt or equity or both. There are costs associated with raising capital and WACC is an average figure used to indicate the cost of financing a company’s asset base. More formally, the weighted average cost of capital (WACC) is the rate that a company is expected to pay to debt holders and shareholders to finance its assets. Companies raise money from a number of sources so the WACC is the minimum return that a company must earn on existing asset base to satisfy its creditors, owners, and other providers of capital. WACC is calculated taking into account the relative weights of each component of the capital structure which means it is the proportional average of each category of capital inside a firm. This rate, also called the discount rate, is used in evaluating whether a project is feasible or not in the net present value (NPV) analysis, or in assessing the value of an asset. WACC = [Wdebt * Kdebt * (1-t)] + [Wequity * Kequity] + [Wpreferred * Kpreferred] K = component cost of capital W = weight of each component as percent of total capital t = marginal corporate tax rate WHY IS IT IMPORTANT TO ESTIMATE A FIRM’S COST OF CAPITAL? The cost of capital is an important issue from the perspective of management while taking a financial decision. We can list some basic issues related to the importance of WACC and its interpretation by firms: * The importance of the WACC is in its relation to the evaluation of projects. For a project to be feasible, not just profitable, it must generate a return higher than the cost of raising debt (Kd) and the cost of raising equity (Ke). WACC is affected not only by Re and Rd, but it also varies with capital structure. Since Rd is usually lower than Re, then the higher the debt level, the lower the WACC. This partly explains why firms usually prefer issuing debt first before they raise more equity. As part of their risk management processes, some companies add a risk factor to the WACC in order to include a risk cushion in their project evaluation. * The cost of capital is also important for the management while taking a decision about capital budgeting. Naturally, the project which gives a higher (satisfactory) return on investment compared to the cost of capital incurred for its financing would be chosen by the management. Cost of capital is the key factor in deciding which project to undertake out of different opportunities. * The cost of capital is significant in designing the firms capital structure. It will direct the management about adopting the most appropriate and economical capital structure for the firm which means the management may try to substitute the various methods of finance to minimize the cost of capital so as to increase the market price and the earning per share. * The cost of capital is also an important factor for taking a decision about the soundest method of financing for the company whenever the company requires additional finance. The management may try to catch the source of finance which bears the minimum cost of capital. The cost of capital can be used to evaluate the financial performance of the top management by comparing actual profitability’s of the projects and the projected overall cost of capital and an appraisal of the actual cost incurred in raising the required funds. DO WE AGREE WITH JOANNA COHEN’S WACC CALCULATION? WHY OR WHY NOT? We do not completely agree with Joanna Cohen’s calculation of WACC. There are several problems in her calculation; * In Cohen’s calculation, she used the book value for the weights of each capital structure component (debt and equity). Book value of equity should not be used when calculating cost of capital. Instead she should have calculated the market value of equity. Also, she should have discounted the value of long-term debt that appears on the balance sheet to find the market value of debt (even if the book value of debt is accepted as an estimate of market value). * Also, she should have considered the preferred stock while calculating the weights of the components of capital structure (the redeemable preferred stock is relatively small in Nike’s capital structure so it doesn’t affect the weights). * Another problem with her calculation is about the cost of debt. Cohen used a cost of debt which is even lower than treasury yield. In common sense, a company, even it might be a large AAA firm, should be risky than US government. Cost of debt should be calculated by finding the yield to maturity on 20-year Nike Inc. debt with current coupon rate paid semi-annually instead of by taking total interest expense for 2001 and dividing it by the company’s average debt balance. USING SINGLE OR MULTIPLE COSTS OF CAPITAL IS APPROPRIATE FOR NIKE INC.? Even Nike Inc. has multiple business segments such as footwear, apparel, sports equipment and some non-Nike-branded products (which accounts for relatively small fraction of revenues), we assumed Nike Inc. o have a single cost of capital since its multiple business segments are not very different and would experience similar risks and betas. Kimi Ford was the portfolio manager in NorthPoint Group, who was concerned about whether or not to add Nike, Inc. shares into her fund. Since net income and market share had been fallen from 1997, a new strategy was proclaimed by the Nike management team during the meeting held in June, 2001: First, highly priced products are no longer their only target, now they would develop the midpriced segment so that more customers will be able to afford it. Second, another way to boost the revenue is to focus on its apparel line, which they found out to be profitable. Finally, Nike needs to reduce its costs by exerting more effort on expense control. Company executives were optimistic about the long-term revenue, expecting an 8%~ 10% growths and earnings growth above 15%. Analysts had different opinion about the company prospects; Lehman Brothers suggested a strong buy while UBS and CSFB recommended a hold. Meanwhile, Ford wanted to make her own forecast so she developed a discount cash flow to determine that, at a discount rate of 12%, Nike was overvalued at its current price $42. 09 and undervalued if the discount rate was below 11. 17%. She asked her assistant, Joanna Cohen, to calculate the company’s cost of capital precisely. On the report, Joanna Cohen used WACC to calculate the cost of capital, where she adopted book values to obtain a proportion of 27% of debt and 73% of equity. For cost of debt, she took total interest expense divided by average debt balance which resulted lower than treasury yields. For cost of equity, she used 20-year Treasury bond as risk-free rate and 5. 9% as market premium. Moreover, she divided each division by revenue, deciding to use one overall WACC. At the end, she came to a conclusion that the cost of capital for Nike, Inc was 8. 4%.