Cameras on Every Corner

The city of Detroit should not have a camera on every corner. Yes we need to do something to make or city safer. Yes there are many unsolved crimes but the people in Detroit needs privacy. We should not have a camera watching every move we make. No matter where we go once we are outside our homes we will be getting watched. How much privacy do they expect us to give up for safety? If I'm alone in the park, I want to know that I'm actually alone. Video cameras however don't really reduce crime. They do act as somewhat as a deterrent and they certainly help identify the perpetrators, but overall it doesn't really do much. We know this through studies from London, England where nearly every street corner has a video camera. Overall, the crime rate of London has not really dipped at all since these were placed. Having a spy camera on every corner makes some people feel more at ease. The picture may be worth a thousand words, but it doesn't tell the whole story. A spy camera in the school bus may show the bus driver not doing anything during a brawl. It looks bad. What is doesn't show is that the traffic did not offer the driver a chance to pull over and that she was trying to contain the situation as best she could with her words. The picture won’t tell everything. Having these cameras could cause another crime. Someone a night guard, employee, hacker, etc. could sell the surveillance tapes to use them to determine a pattern of behavior to plan another crime. Also our city is in a lot of debt. So why would we spend millions of dollars on all those cameras? That money could be paying off debts. Buying all those cameras would put us in more debts which would cost people there jobs. Without our jobs people won’t be able to get the things they need to live. The people will need some money for our own common good. The city of Detroit should not have cameras on every corner.

Producing a modern version of the play Essay

What difficulties have you experienced in producing a modern version of the play and how have you gone about solving these? A Midsummer Night’s dream looks at many themes and issues surrounding love and magic. The play looks into love, relationships, magic and how men and women treat each other. The play starts off with two minor characters in the play that appear at the beginning and at the end, Duke Theseus of Athens and Hippolyta the Queen of the Amazon’s discussing their forthcoming wedding. This part of the play creates images of weddings and romances. Recurrent images throughout the play appear here the moon, heaven and fate. There is a romantic tone and the language is also romantic as the Duke says ‘she lingers my desires’. The theme is love. Egeus, Hermia’s father enters angry with his daughter, and Lysander whom she is in love with. Egeus tries to threaten Hermia into marrying Demetrius. This is whom Egeus would like his daughter to be with, as he believes Demetrius can do no wrong and would care for Hermia unconditionally. Hermia is then given an ultimatum; she either marries Demetrius or dies. The language is full of hatred and ‘full of vexation come I’. This gives imagery of fantasies. The theme is of stolen love and fantasy. The tone of the actors is harsh and changes toward the end when Egeus says ‘†¦ stubborn harshness. And, my gracious Duke†¦ ‘. Hermia loves Lysander with all her heart. She doesn’t want to marry Demetrius and she certainly does not want to die, so the love-struck couple decide to escape and run away to the woods to be wed. Hermia sticks up for Lysander and says he is a worthy gentleman. The topic is that Hermia would die for Lysander; she doesn’t desire Demetrius. The language is full of anti-Demetrius, and the tone is occupied with sadness. Once again there are recurrent images of the moon, suggesting fate will deal its own hand this occurs when ‘†¦ on Diana’s altar†¦ ‘ is mentioned. Goddess of chasity and moon means this. Just as the two young lovers head towards the wood they meet Helena. Helena is a good friend of Hermia. She loves Demetrius, and is very jealous of Hermia’s beauty, for she is whom Demetrius loves. They tell Helena of their plans to elope. She then tells Demetrius to get on the good side of him (because he loves Hermia). The language in this area of the play is full of jealousy, and has a bitter tone. Hermia greets Helena with ‘God speed, fair Helena! Whither away? ‘ and she replies in a very cold and resentful tone saying ‘Call me fair? †¦ Demetrius loves your fair’. We then meet the actors, also known as the mechanicals that are going to perform an act at Duke Theseus and Hippolyta’s wedding. We find out they are not the cleverest of people. One actor who is called Nick Bottom is introduced to us and his occupation is a weaver. We discover he is greedy and wants to take over everyone’s parts in the play. Bottom uses rhyme and rhythm when he speaks reciting poem. A Midsummer Night’s dream is about two worlds, earth and the fairy world. In the fairy world we meet a fairy, servant to Titania and Puck (Robin Goodfellow), Oberon’s lieutenant. We learn of Puck’s mischievous behaviour. The fairy introduces us to Puck with such rhyme and rhythm creating calmness, ironic to Puck’s character. Oberon and Titania are king and queen of the fairy world. Together they are parents to an Indian child servant. However, the two argue about whom the child is to stay with. We gain knowledge of who loves whom in the real world. Titania blames Oberon for the natural disasters in the real world. Titania suggests that the result of the quarrel causes strong gusts of wind, stormy sea, fog, loss of crop, floods, frosts etc. She also says that they have caused ‘murrion’, murrain is a fatal disease in sheep caused by wetness. In today’s society we can relate to this as we have experienced the terrible foot and mouth disease spread around the whole countryside. However, we cannot relate to the natural disasters as a result of quarrelling as these are occurrences which no one human being has force and control over. Due to the argument between the king and the queen of the fairy world Oberon decides to take revenge over Titania. He remembers of a flower, which contains a potion. The potion will make a living being fall in love with the first living thing they see. You can convey the magic of the flower with an anti-drugs to appeal to today’s society. Helena and Demetrius enter the wood. Helena tells Demetrius how she feels, but he doesn’t feel the same way. She is determined to win over his heart, and whatever Demetrius says and does, despite the nature of it, Helena falls more deeply in love with him. Helena keeps on following Demetrius, she throws herself at him at every opportunity she has and she doesn’t like to not see him. Demetrius’ tone of voice is hostile and his language is full of hatred. Images created are of hate. Demetrius says ‘ Tempt not too much the hatred of my spirit; for I am sick when I do look at thee’. Images of hell are also present. Oberon listens into the conversation between the pair, and he decides to side with Helena. He decides to help Helena out, as he feels she deserves someone to treat her fairly, and someone that will make her very happy. He tells Puck to drop some of the potion from the magical flower into Demetrius’ eyes. Whilst Titania is sleeping Oberon put the magical drops into her eyes. Mean while Lysander and Hermia enter the woods and fall asleep. Puck saw Lysander in the woods, confused, he put the drops into his eyes. Helena then goes deeper into the woods after losing track of Demetrius. She sees Lysander on the floor. He is still and very pale, and Helena thinks he is dead. She begins to shake him and he awakes. Lysander looks into Helena’s eyes and he falls instantly in love with her; he does not love Hermia any more, thanks to the magical flower. Lysander follows Helena leaving Hermia alone; he tries to convince her of his undying love. As Hermia is left alone asleep she has a terrible nightmare. She has a nightmare of a serpent eating her heart. The images create a vision of hell. Hermia wakes to find Lysander is not there, she is scared and very worried. The actors try to find a ‘convenient place’ for their rehearsal. They discover the wood is the perfect position to practice. The actors continuously seek to find fault with the play. They suggest that the killing of Pyramus could not be shown because it would scare the women watching. They also recommended that they could not have the part of a lion roaring as the audience would be afraid. After the trouble getting the play started, they began. Puck enters on scene; he is unseen and unheard. He thinks to himself what do we have here? Puck’s character is portrayed as a mischievous character; this shows when he plants an ass’s head on Bottom’s head. The mechanicals create humour with word play, and also there are many misunderstandings. The actors do not know what impact they are having on the audience, as they are not supposed to be comedic. However they are and don’t know which adds humour to the language and imagery. Bottom is puzzled as the actors surrounding him run away from him calling him names whilst being afraid. This is very ironic. He wonders around singing and whistling to himself. Titania awakes and when she notices Bottom she instantly falls in love with him. She instructs her fairies to tend to his every need. Imagery and themes of slavery are presented here. Puck explains to Oberon about his incident with Bottom and he agrees it was better than he could have devised. The duo watch Hermia and Demetrius in an argumentative conversation. Hermia believes Demetrius has hidden Lysander from her, so he can have her for himself; this is far from the truth. Demetrius tried to justify himself, but Hermia would have none of it. He eventually gave in, lied on the floor and fell asleep. Oberon realises Puck has made a mistake with the magical flower. We are then with Lysander and Helena, and Lysander is still trying to convince Helena of his love for her. Demetrius wakes to find Helena, and once again the magic begins, he loves Helena. Helena thinks the two men are lying to her, trying to mock her. She thinks everyone is in on the supposed plot, including Hermia whom now enters dazed and confused. This suggests the theme and idea of love is confusing.

Drug Addiction Is a Growing Problem in Punjab Essay

1) Throughout the border state of Punjab, whether in villages or cities, drugs have become a scourge. Opium is prevalent, refined as heroin or other illegal substances. Schoolboys sometimes eat small black balls of opium paste, with tea, before classes. Synthetic drugs are popular among those too poor to afford heroin. 2) The scale of the problem, if impossible to quantify precisely, is undeniably immense and worrisome. India has one of the world’s youngest populations, a factor that is expected to power future economic growth, yet Punjab is already a reminder of the demographic risks of a glut of young people. An overwhelming majority of addicts are between the ages of 15 and 35, according to one study, with many of them unemployed and frustrated by unmet expectations. 3) For the Punjab government, the problem is hardly unknown. Private drug treatment centers, some run by quacks, have proliferated across the state, and treatment wards in government hospitals have seen a surge in patients. Three years ago, a state health official warned in a court affidavit that Punjab risked losing a whole generation to drugs. Roughly 60 percent of all illicit drugs confiscated in India are seized in Punjab. 4) Yet when Punjab held state elections this year, the candidates rarely spoke about drug abuse. In fact, India’s Election Commission said that some political workers were actually giving away drugs to try to buy votes. More than 110 pounds of heroin and hundreds of thousands of bottles of bootleg liquor were seized in raids. During the elections, party workers in some districts distributed coupons that voters could redeem at pharmacies. 5) Punjab’s reluctance to treat the drug situation as a full-blown crisis is partly because the state government itself is dependent on revenue from alcohol sales. Roughly 8,000 government liquor stores operate in Punjab, charging a tax on every bottle — an excise that represents one of the government’s largest sources of revenue. India’s comptroller found that liquor consumption per person in Punjab rose 59 percent between 2005 and 2010. 6) A sociologist in Amritsar, surveyed 600 drug addicts in rural and urban areas of Punjab and found that they were usually young, poor and unemployed. He said that most villages did not have health clinics but did have three or four drugstores, which often made sizable profits selling pills and other synthetic drugs to addicts who cannot afford heroin. 7) Opium has a long history in Punjab, and was commonly and legally consumed here before India and Pakistan gained independence in 1947. Today, Punjab is a primary gateway for opiates smuggled into India from Pakistan and Afghanistan. Opium is also grown legally in India for medicinal purposes, and some of the crop arrives in Punjab on the black market. 8) The problem is prevalent in middle-class enclaves, where some users are hooked on heroin. One impoverished neighborhood of Amritsar, called Maqboolpura, is known as the Village of Widows — because so many young men have died of drug abuse. 9) In Kazikot Village, about a two-hour drive from Amritsar, a local nongovernmental organization tries to prevent the spread of H.I.V. by regularly distributing clean syringes to addicts. The group’s workers say there are 48 hard-core addicts in the village (out of more than 2,000 people) but that many other people use drugs. Government officials have sponsored â€Å"camps† here, with health officials providing antidrug information or trying to persuade addicts to undergo treatment — neither of which, villagers say, has been successful.

Catastrophe model of construction dispute negotiation behaviour Essay - 4

Catastrophe model of construction dispute negotiation behaviour - Essay Example Two cases were studied in this investigation which can be analyzed further with the assistance of primary research techniques to better understand what occur internally during the negotiation process. The two cases studies which merit other investigative techniques are the Motor Bus Company and Steel Benders cases. The primary research technique utilize to obtain more information about the cases is a questionnaire. There two types of questionnaires utilized: an initial interview and a follow-up interview. Since the interviews are not performed in person they are categorize as questionnaires. The method of invitation utilized in both cases to invite the members to participate is an online invitation to be sent to the presidents of the respective unions in both cases to learn about the perspective of the workers. In the Bus Company Case the questionnaire will be send to the CEO of the company. In the Steel Benders case the employer will be represented by the owners or general managers of 30 construction companies in Japan. The Motor Bus Company is negotiating a resolution between the firm and the employees of the company. Both parties involved in the negotiation have claims regarding the terms of the proposed contract. The first question of the questionnaire seeks to obtain the desired terms in order to renegotiate a collective bargaining agreement. The specific position of each party will reveal the alternative offer to obtain a resolution to the dispute. The second question is a quest to obtain responses and a strategic position in the negotiation process among the people involved in the ordeal. If player A can gain insight about the innate response and acceptance of the offer of player B it can act and propose a counteroffer that may persuade a group to seek an immediate solution to end the dispute. The offer by the company was fair in comparison with the previous, but it was only a bluff since the company felt the workers union

Injectronics Essay Example | Topics and Well Written Essays - 1500 words - 1

Injectronics - Essay Example Automotive maintenance has undergone radical changes since the introduction of electronics as well as mechatronics in vehicles. Rapid introduction of computer controls to operate engines, steering, braking, suspension and other safety and transmission or comfort functions in today’s vehicles is a huge challenge to both service processes and manufacturing technologies along with failure diagnosis requirements. Many of the modifications in automotive repairs are a result of the initiation of microcontrollers and other electronics in functions within a vehicle. These changes require the remanufacturing companies for such electronic components to improve as significant changes are continually taking place in the industry (Weiland, n.d). Before the advent of electronic controllers, definition of automotive remanufacturing was clear: meaning the renovation of used vehicle parts in accordance with the accepted state so that they can perform similar to new ones. This conventional rema nufacturing may be relevant in future to mechatronics; nevertheless, the definition will be tailored for electronic controllers. ... Currently, vehicles average 35 microprocessors in a vehicle, which are located in various several electronic modules throughout a vehicle and range from simple applications to sophisticated engine controls. The high content level highlights the importance of long-term service plan for electronic control modules. In these vehicles, the service expectations include corresponding electronic modules at least every 4-10 years’ service life with most vehicles lasting 15 years; nevertheless, other vehicles have a high service life of up to 25 years or more. Electronic modules present a difficult service challenge due to many factors such as the fact that microprocessor manufacturers and network manufacturers never have the volume requirements in the service life of a vehicle in order to maintain a production line for producing these service components (APRA global connection, 2009). Market and Competitors Most Electronic Control Module (ECM) utilise four to eight custom-produced micr oprocessors to deter competitors and grey marketers capable of replicating the electronic control module. Therefore, electronic components are often produced in a limited manner and usually the first components to be given as end-of-life production. Remanufacturing of electronic modules is possible through the availability of sold units removed from vehicles or cores; thus, injectronic faces the challenges of maintaining a sufficient collection system that maintains constant return of failed units to sustain the remanufacturing program. Moreover, the core is a failed unit, which has been in use within vehicles for several years; therefore, it is likely that the part is not the latest part since many revisions could have

Relationship between Travel & Tourism Essay Example | Topics and Well Written Essays - 3500 words

Relationship between Travel & Tourism - Essay Example Tourism is not a phenomenon. Only it has made new strides. People have been undertaking hazardous journeys for thousands of years either on pilgrimage or in quest of new lands and ideas. Tourism today is a movement which not only gears up several other industries but also creates new employment opportunities. Tourism comprises the activities of persons traveling to and staying in places outside their usual environment for not more than one consecutive year for leisure, business, and other purposes. Apart from being a major foreign exchange earner, tourism helps in promoting human understanding and cultural exchange. The coming decades are a crucial time for the relationship between travel and tourism and sustainable development. The need to preserve the worlds inherent assets for future generations is becoming an imperative goal not only for travel and tourism but also for all other industries that use the earth natural resources. The scale of travel and tourism contribution to the global economy and its potential for enabling sustainable development are becoming more evident for governments, non-governmental organizations, and industry alike. The development of tourism has been characterized by continuing geographical spread and diversification of tourist destinations. Travel and tourism, if utilized effectively, can be a force for positive growth and economic success for both developed and developing countries. The travel and tourism industry simultaneously thrives upon this trend and is threatened by it. Tourism products and services that demonstrate ‘greater sensitivity to the environ ment, traditional culture and local people at the destinations can create such an experience, whereas tourism in a context of uncontrolled growth which puts increasing pressure on the natural, cultural and socioeconomic environment, risks diminishing the visitor’s experience. In short, increased market demand for experiences can contribute to social, economic and environmental sustainability only if the resulting pressures from growth are properly planned and managed.

Marketing strategy assignment Essay Example | Topics and Well Written Essays - 1250 words

Marketing strategy assignment - Essay Example â€Å"Samsung has adopted an aggressive branding and advertising strategy to transform the company from the manufacturer of cheaper Japanese brands products to a global brand known for innovations, cutting edge technology and leading design† (Farhoomand, 2013, p.13). Consumer preferences and loyalty are essential for the development of a brand. As per the views of marketing experts, strong brands can capture consumer preferences and loyalty. Samsung is a stronger brand since it is able to offer different products such as mobile phones, televisions, computers, washing machines, Fridge, air conditioners, semi-conductor devises etc. Moreover, Samsung has stronger presences in most of the continents. Even though American company, Apple Inc. is one of the strongest competitors of Samsung, the company is able to penetrate deep into American market also. In fact Samsung is using diversified products as a mean to establish its brand in different continents and markets. Creation of emotional attachment is an effective branding strategies used by many companies. Samsung is one among such companies. Globally, Samsung is a trusted brand and many people, especially the consumers in Asia, have some kind of emotional attachments to it. For example, many of Samsung smartphone users are eagerly waiting for the arrival of new smartphones from Samsung all the time. They know very well that the ability of Samsung in incorporating new features to its new products is outstanding. The recently introduced Galaxy S6 edge is an example of Samsung abilities to make use of cutting edge technologies such as curved display (Samsung, 2015). All new products from Samsung offer some kind of surprise elements for the consumers. As a result of that, the emotional attachment towards Samsung brand among the consumers is growing. In order to create emotional attachment, Samsung makes use of different

Catholic View of the Death Penalty Research Paper

Catholic View of the Death Penalty - Research Paper Example In 1992, the church approved the first universal catechism. According to Pope John Paul II, the text was a complete exposition of catholic doctrine. This would enable everyone to understand what the church believes, celebrates, lives and prays (Daly, Doody, and Paffenroth, pp. 50). However, the publication was revised within a short time and particularly the section dealing with the death penalty. The first section of the death penalty was based on the traditional catholic principle, which gave the death penalty a moral definition. It gave the public authority the right and duty to punish offenders with the gravity of the crime which included the death penalty. This was to redress the disorder and damage caused by the crime. However, it proposed bloodless means as a way of defending human lives against aggressors and provide public safety (Hodgkinson and Schabas, pp 97). The public authority was supposed to use bloodless means to conform to human dignity of the offender. This was the earlier catholic teaching permitting capital punishments to defend life and maintain public order. The use of bloodless means was preferred in line with Christian calling to show mercy instead of vengeance. When the catechism publication was revised in 1997, the purpose of capital punishment had been removed. The notion of capital punishment as deterrence to other capital crimes was also reduced. Prior to this release, the pope had issued a letter about human life that addressed several moral issues regarding defending human life. This letter revealed capital offender as human beings who deserved humanity and condemned death penalty. This letter had an impact on Vatican commissioners overseeing the revisions. The catechism was supposed to be a teaching guide that upholds morals to about 1.1 billion Catholics around the world. The argument of the death penalty as a protection of public order was scrubbed and justified with the defense of human life against aggressors. Death penalty could only be used to protect the society from capital criminals (Owens, Carlson, and Elshtain, pp. 60). The document provided a restricted application of the death penalty and the cases requiring execution were very few or nonexistent. This issue was given a broader discussion of legitimate defense and human morality. The public authority had to respect personal and social rights of the criminal. Criminals were also provided with the opportunity to regain their freedom by including remedies for both the offender and the criminals. The church had considered introducing morality on the death penalty before the first catechism publication. Biblical convictions about good and evil, sin and redemption, justice and mercy acted as the basis for shifting the view of the death penalty. According to the bible, life is a precious gift from God and human beings were created in God’s image. Jesus was crucified between two capital criminals as a way of redeeming human beings. Individuals who deny the dignity of fellow humans required dignity as a gift from God rather than something earned through behavior. However, the Law of Moses in the Old Testament prescribes death for about thirty six offenses (Campbell, pp. 15). Early Catholic Christians used this justification to punish capital offenders by convicting them to death. Biblical excerpts such as a limb for limb, tooth for tooth, and eye

Internal Control Essay Example | Topics and Well Written Essays - 250 words

Internal Control - Essay Example Section 404 of the Sarbanes-Oxley Act states that all annual financial reports must include an internal control report stating that management is responsible for an adequate internal control structure and an assessment by management of the effectiveness of the control structure (Sarbanes-oxley-101, 2015). The creation of SOX established new standards for internal controls that corporations must abide to, while at the same time ensuring that upper management became accountable for the actions of the company. The new internal control requirements must be monitored by upper management including the CEO and CFO who must personally sign the report making them liable in case these internal controls fail (Kmpg, 2004). This raises their accountability by 100% in comparison with the past. The act also requires a statement from the public company that audited the financial statement that it has issued an attestation report on managements assessment of the internal control of the company (Sec, 2008). Peavler, R. (2015). The Sarbanes-Oxley Act and the Enron Scandal – Why are they Important. Retrieved January 6, 2015 from http://bizfinance.about.com/od/smallbusinessfinancefaqs/a/sarbanes-oxley-act-and-enron-scandal.htm Sec.gov (2008). Final Rule: Managements Report on Internal Control Over Financial Reporting and Certification of Disclosure in Exchange Act Periodic Reports. Retrieved January 6, 2015 from

Social Model of Disability Essay Example | Topics and Well Written Essays - 4000 words

Social Model of Disability - Essay Example It has multi-dimensional concept with both objective and subjective characteristics. Interpreted as an illness or impairment, Disability can be seen as fixed in an individual's body or mind. Whereas interpreted as a social context, Disability can be seen in terms of the socio-economic, cultural and political disadvantages resulting from an individual's exclusion by the non-disabled society he/she is in. Different stakeholders like persons with disabilities; Social advocacy groups, Medical practitioners, Social workers and the General public all have a different view of disability. And the meaning of Disability has evolved over the years through various perspectives such as a moral perspective, a medical perspective as well as social and human rights perspectives. The core definition of the British social model comes in the UPIAS document, Fundamental Principles of Disability. Let me quote from an edited version of the document reprinted in Oliver (1996), " In our view, it is society, which disables physically impaired people. Disability is something imposed on top of our impairments by the way we are unnecessarily isolated and excluded from full participation in society. Disabled people are therefore an oppressed group in society. To understand this it is necessary to grasp the distinction between the physical impairment and the social situation, called 'disability', of people with such impairment. Thus we define impairment as lacking all or part of a limb, or having a defective limb, organism or mechanism of the body and disability as the disadvantage or restriction of activity caused by a contemporary social organization which takes little or no account of people who have physical impairments and thus excludes them from participation in th e mainstream of social activities." (Oliver, 1996, 22). The British social model contains several key elements. It claims that disabled people are an oppressed social group. It distinguishes between the impairments that people have, and the oppression, which they experience. And most importantly, it defines 'disability' as the social oppression, not the form of impairment. The Social approach to Disability has its roots in British history. The social model is much more developed in UK. It has been called 'the big idea' by the British disability movement (Hasler, 1993). Developed in the 1970s by activists in the Union of the Physically Impaired Against Segregation (UPIAS), it was given academic credibility via the work of Vic Finkelstein (1980, 1981), Colin Barnes (1991) and particularly Mike Oliver (1990, 1996). The social model has now become the ideological litmus test of disability politics in Britain, used by the disabled people's movement to distinguish between organizations, policies,

Netflix Essay Example | Topics and Well Written Essays - 1000 words - 1

Netflix - Essay Example The brand took a bad hit when they increased prices the last time. 2. Netflix has made another positive step towards offering their original productions to the consumers such as â€Å"the house of cards† which has had high viewership rating which should project more segments the company can enter into. 3. The company has so far not been able to penetrate into Latin America because a great deal of the economy works on cash, with a cultural change of high acceptance and usage of debit and credit cards the brand could easily penetrate the market. 4. Netflix collects data from their subscribers, over the years this practice by other companies has received a lot of criticism. Eventually an increased regulation in this regard could result in restricting Netflix’s ability to use technology for data collection and making recommendations. Jacobs, Y. (2011). How I Predicted Netflixs Fall, And Why Its Prospects Are Getting Worse. 2013 Seeking Alpha. Retrieved http://seekingalpha.com/article/294587-how-i-predicted-netflix-s-fall-and-why-its-prospects-are-getting-worse Lawler, A. (2013). As ISPs Like Cablevision Cozy Up To Its Open Source CDN, Netflix Makes 3D And â€Å"Super HD† Video  Available. AOL Inc 2013. Retrieved http://techcrunch.com/2013/01/08/netflix-open-connect-3d-super-hd/ Steltar, B. (2012). A Turnaround at Netflix, as Its Mail Sector Shrink. 2012 The NewYork Times Company. Retrieved

History of Electrocardiography Machine Essay Example for Free

History of Electrocardiography Machine Essay History of electrocardiography prevails over two centuries as an intellectual exercise as the process of inventing an electrocardiogram started with the Galvani’s idea of animal electricity. In 1842 this idea was further reinforced by Italian physicist Carlo Matteucci who illustrated by his experiments that electric current could be quantified from inactive heart muscle. German physiologist Emil Dubois-Reymond further explored this phenomenon and confirmed Carlo Matteucci’s conclusion and labeled this changing current in the resting muscle as â€Å"action potential†. He further developed a device that could deliver stimulation pulses to the muscles and was capable of computing discharge current of muscles at short intervals. In 1856 Rudolph von Koelliker and Heinrich Muller recorded an â€Å"action potentialâ€Å"on the spotaneous beating heart. But the major development came in 1872 when French physicist Gabriel Lippmann introduced a capillary electrometer. This capillary electrometer was based on the principle of â€Å"polarization† and â€Å"surface tension†. Structurally it was a slender glass tube with mercury-sulphuric acid base. The mercury meniscus stirred with the influx of electrical potential and was observable by a microscope. In 1893, Willem Einthoven who is considered as the inventor of modern electric cardiogram and its various principles used the term electrocardiogram at a conference of the Dutch Medical Association. But major development occurred during the three years staring from 1901 when Einthoven dissatisfied with capillary electrometer and it slow response, designed a string galvanometer. This galvanometer contained a string eletromagnet to produce a magnetic flux, two piece poles, a quartz string between the two piece poles, peepholes in the two piece poles to observe the position of string. It further contained a lamp and timing systen to examine the shadow of string at different time intervals. The weight of this whole apparatus was about 600 pounds. He further modified the string galvanometer to invent a more effective electrocardiograms. However in 1902, Einthoven brought out the first electrocardiogram that was recorded on his string galvanometer. This was a giant’s leap in the history of bio-medical. In order to produce string galvanometer on commercial level, Einthoven discussed the possibilities with Horace Darwin of Cambridge Scientific Instruments Company of London. So this event made the electrocardiogram to come out of experimentation and to be used in medical profession. Einthoven, in 1906, circulated the first presentation electrocardiograms recorded with a string galvanometer. These electrocardiograms included the specimen of left and right ventricular and atrial, atrial flutter, ventricular premature beats etc. In 1910, Horatio Williams who was professor at Cornell University Medical College, New York issued electrocardiograms of patient that manifest atrial and ventricular ectopics, ventricular hypertrophy, atrial fibrillation and ventricular fibrillation that were recorded in hospital using a complex system of cables. This was first large-scale use of electrocardiograms in the hospitals. With the advent and introduction of vacuum tubes, the electric galvanometer was further modified and improved. In 1926, Ernestine and Levine used these vacuum tubes to produce enlarged images. Cathode rays tube further helped to produce portable electrocardiograms. Today electrocardiograms works on the same principles that were devised Einthoven in the first decade of 20th century. References Burchell HB. A centennial note on Waller and the first human electrocardiogram. Am J Cardiol 1987; 59:979-983 Burch, G.E. A History of Electrocardiography. Chicago. Year Book Medical. 1964. Burnett J. The origins of the electrocardiograph as a clinical instrument. Medical History Supplement 5: 1985, 53-76. Published as a monograph. The emergence of modern cardiology. Bynum WF, Lawrence C, Nutton V, eds. Wellcome Institute for the History of Medicine:1985. Fye WB. A history of the origin, evolution, and impact of electrocardiography. Am J Cardiol 1994;73:937-949 Plonsey, R. Bioelectric Phenomenon. New York. McGraw-Hill. 1972.

Credit Risk Management in the UK Banking Sector

Credit Risk Management in the UK Banking Sector Background 3 Literature Review 7 Ascertaining why and how banking credit risk exposure is evolving recently 8 Seeing how banks use credit risk evaluation and assessment tools to mitigate their credit risk exposure 11 The steps and methodologies used by banks to identify, plan, map out, define a framework, develop an analysis and mitigate credit risk 13 Determine the relationship between the theories, concepts and models of credit risk management and what goes on practically in the banking world 17 Ascertain the scope to which resourceful credit risk management can perk up bank performance 19 To evaluate how regulators and government are assisting the banks to identify, mitigate credit risk, and helping to adopt the risk-based strategies to increase their profitability, and offering assistance on continuous basis 20 Research Methodology 21 Analysis 23 Ascertaining why and how banking credit risk exposure is evolving recently 23 Seeing how banks use credit risk evaluation and assessment tools to mitigate their credit risk exposure 25 The steps and methodologies used by banks to identify, plan, map out, define a framework, develop an analysis and mitigate credit risk 31 Determine the relationship between the theories, concepts and models of credit risk management and what goes on practically in the banking world 35 Ascertain the scope to which resourceful credit risk management can perk up bank performance 38 To evaluate how regulators and government are assisting the banks to identify, mitigate credit risk, and helping to adopt the risk-based strategies to increase their profitability, and offering assistance on continuous basis 40 Primary Survey 45 Conclusions 46 Recommendations 50 Bibliography 56 Background The sub-prime mortgage meltdown that hit the global banking sector in 2007, was a result of circumstances, actions and repercussions that began years earlier (Long, 2007). It, the sub-prime mortgage crisis, was based on unsound ground from its inception. Sub-prime mortgages represent loans made to borrowers that have lower ratings in their credit than the norm (investopedia, 2007). Due to the lower borrower credit rating, they do not qualify for what is termed as a conventional mortgage due to default risk (investopedia, 2007). Sub-prime mortgages thus carry a higher interest rate to off set the risk increase, which helped to fuel the United States economy through increased home ownership, and the attendant spending that accompanies it (Bajaj and Nixon, 2006). Implemented by the Bush administration in the United States to get the economy rolling after the recession fuelled by the September 11th air attacks, the entire plan began to backfire as early as 2004 as a result of the continu ed building of new housing without the demand (Norris, 2008). The new construction glutted the market bringing down house prices. This, coupled with a slowing economy in the United States resulted in layoffs, as well as many subprime mortgage holders defaulting on their loans, and the crisis ballooned. Some attribute the over lending of subprime mortgages to predatory lending (Squires, 2004, pp. 81-87) along with the underlying faults of using it as an economic stimulus package that did not control the limits on new housing (Cocheo, 2007). That set of circumstances represented the cause of the subprime mortgage crisis that spread globally as a result of the tightening of credit due to defaulted loan sell offs and restricted banking lending ceilings caused by the Basel II Accords (Peterson, 2005). The complexity of the foregoing shall be further explained in the Literature Review section of this study. The preceding summary journey through the subprime mortgage crisis was conducted to reveal the manner in which banking credit crunches can and do occur. The significance of the foregoing to this study represents an example to awaken us to the external factors that can and do cause banking credit crisis situations, thus revealing that despite good management practices such events can m anifest themselves. It is also true that poor or lax banking practices can have the same effects. Credit risk management represents the assessing of the risk in pursuing a certain course, and or courses of action (Powell, 2004). In addition to the foregoing U.S. created subprime mortgage crisis, the appearance of new forms of financial instruments has and is causing a problem in credit risk management with regard to the banking sector. As the worlds second largest financial centre, the United Kingdom is subject to transaction volumes that increase the risks the banking sector takes as so many new forms of financial instruments land there first. McClave (1996, p. 15) provides us with an understanding of bank risk that opens the realm to give us an overview of the problem by telling us: Banks must manage risk more objectively, using quantitative skills to understand portfolio data and to predict portfolio performance. As a result, risk management will become more process-oriented and less dependent on individuals. Angelopoulos and Mourdoukoutas (2001, p. 11) amplify the preceding in stating that Banking risk management is both a philosophical and an operational issue. They add: As a philosophical issue, banking risk management is about attitudes towards risk and the payoff associated with it, and strategies in dealing with them. As an operational issue, risk management is about the identification and classification of banking risks, and methods and procedures to measure, monitor, and control them. (Angelopoulos and Mourdoukoutas, 2001, p. 11) In concluding, Angelopoulos and Mourdoukoutas (2001, p. 11) tell us that the two approaches are in reality not divorced, and or independent form each other, and that attitudes concerning risk contribute to determining the guidelines for the measurement of risk as well as its control and monitoring. The research that has been conducted has been gathered to address credit risk management in the United Kingdom banking sector. In order to equate such, data has been gathered from all salient sources, regardless of their locale as basic banking procedures remain constant worldwide. References specific to the European Union and the United Kingdom were employed in those instances when the nuances of legislation, laws, policies and related factors dictated and evidenced a deviance that was specific. In terms of importance, credit risk is one of the most important functions in banking as it represents the foundation of how banks earn money from deposited funds they are entrusted with. This being the case, the manner in which banks manage their credit risk is a critical component of their performance over the near term as well as long term. The implications are that todays decisions impact the future, thus banks cannot approach current profitability without taking measures to ensure that decisions made in the present do not impact them negatively in the future (Comptroller of the Currency, 2001). A well designed, functioning and managed credit risk rating system promotes the safety of a bank as well as soundness in terms of making informed decisions (Comptroller of the Currency, 2001). The system works by measuring the different types of credit risk through dividing them into groups that differentiate risk by the risk posed. This enables management as well as bank examiners to mon itor trends and changes to risk exposure, and this minimise risk through diversifying the types of risk taken on through separation (Comptroller of the Currency, 2001). The types of credit risks a bank faces represents a broad array of standard, meaning old and establishes sources, as well as new fields that are developing, gaining favour, and or impacting banks as a result of the tightness of international banking that creates a ripple effect. The aforementioned subprime crisis had such an effect in that the closeness of the international banking community accelerated developments. The deregulation of banking has increased the risk stakes for banks as they now are able to engage in a broad array of lending and investment practices (Dorfman, 1997, pp. 67-73). Banking credit risk has been impacted by technology, which was one of the contributing factors in the subprime crisis (Sraeel, 2008). Technology impacts banks on both sides of the coin in that computing power and new software permits banks to devise and utilise historical risk calculations in equating present risk forms. However, as it is with all formulas, they are only as effective as the par ameters entered (Willis, 2003). The interconnected nature of the global banking system means that bank risk has increased as a result of the quick manner in which financial instruments, credit risk transfer, and other systems, and or forms of risk are handled. The Bank for International Settlements led a committee that looked into Payment and Settlement Systems, which impacts all forms of banking credit risk, both new forms as well as long standing established ones in loans, investments and other fields (TransactionDirectory.com, 2008). The report indicates that while technology and communication systems are and have increased the efficiency of banking through internal management as well as banking systems, these same areas, technology and communications systems also have and are contributing to risk. The complexity of the issues that arise in a discussion of credit risk management means that there are many terms that are applicable to the foregoing that are banking industry specific to this area. In presenting this material, it was deemed that these special terms would have more impact if they were explained, in terms of their context, as they occur to ease the task of digesting the information. This study will examine credit risk management in the UK banking sector, and the foregoing thus will take into account banking regulations, legislation, external and internal factors that impact upon this. Literature Review The areas to be covered by this study in relationship to the topic area Credit Risk Management in the UK Banking Sector entails looking at as well as examining it using a number of assessment and analysis points, as represented by the following: Ascertaining why and how banking credit risk exposure is evolving recently. Seeing how banks use credit risk evaluation and assessment tools to mitigate their credit risk exposure. The steps and methodologies used by banks to identify, plan, map out, define a framework, develop an analysis and mitigate credit risk. Determine the relationship between the theories, concepts and models of credit risk management and what goes on practically in the banking world. Ascertain the scope to which resourceful credit risk management can perk up bank performance. To evaluate how regulators and government are assisting the banks to identify, mitigate credit risk, and helping to adopt the risk-based strategies to increase their profitability, and offering assistance on continuous basis. The foregoing also represents the research methodology, which shall be further examined in section 3.0. These aspects have been included here as they represented the focus of the Literature Review, thus dictating the approach. The following review of literature contains segments of the information found on the aforementioned five areas, with the remainder referred to in the Analysis section of this study. Ascertaining why and how banking credit risk exposure is evolving recently. In a report generated by the Bank for International Settlements stated that while transactional costs have been reduced as a result of advanced communication systems, the other side of this development has seen an increase with regard to the potential for disruptions to spread quickly and widely across multiple systems (TransactionDirectory.com, 2008). The Report goes onto add that concerns regarding the speed in which transactions occur is not reflected adequately in risk controls, stress tests, crisis management procedures as well as contingency funding plans (TransactionDirectory.com, 2008). The speed at which transactions happen means that varied forms of risk can move through the banking system in such a manner so as to spread broadly before the impact of these transactions is known, as was the case with the subprime mortgage crisis debt layoff. One of the critical problems in the subprime crisis was that it represented a classic recent example of the ripple effect caused by rapid interbanking communications, and credit risk transfer. When the U.S. housing bubble burst, refinance terms could not cover the dropping house prices thus leading to defaults. The revaluation of housing prices as a result of overbuilding forced a correction in the U.S. housing market that drove prices in many cases below the assessed mortgage value (Amadeo, 2007). The subprime mortgage problem was further exacerbated by mortgage packages such as fixed rate, balloon, adjustable rate, cash-out and other forms that the failure of the U.S. housing market impacted (Demyanyk and Van Hemert, 2007). As defaults increased banks sold off their positions in bad as well as good loans they deemed as risks as collateralised debt obligations and sold them to differing investor groups (Eckman, 2008). Some of these collateralised debt obligations, containing subprim e and other mortgages, were re-bundled and sold again on margin to still another set of investors looking for high returns, sometimes putting down $1 million on a $100 million package and borrowing the rest (Eckman, 2008). When default set in, margins calls began, and the house of cards started caving in. Derivatives represent another risk form that has increased banking exposure. The preceding statement is made because new forms of derivatives are being created all of the time (Culp. 2001, p. 215). Derivatives are not new, they have existed since the 1600s in a rudimentary form as predetermined prices for the future delivery of farming products (Ivkovic, 2008). Ironically, derivatives are utilised in todays financial sector to reduce risk via changing the financial exposure, along with reducing transaction costs (Minehan and Simons, 1995). In summary, some of the uses of derivatives entail taking basic financial instruments as represented by bonds, loans and stocks, as a few examples, and then isolating basic facets such as their agreement to pay, agreements to receive or exchange cash as well as other considerations (financial) and packaging them is financial instruments (Molvar, et al, 1995). While derivatives, in theory, help to spread risk, spreading risk is exactly what caused t he subprime meltdown as the risk from U.S. mortgage were bundled and sold, repackaged, margined, and thus created a raft of exposure that suffered from the domino effect when the original house of cards came crashing down. Other derivative forms include currency swaps as well as interest rate derivatives that are termed as over the counter (Cocheo, 1993). The complexity of derivatives has increased to the point where: auditors will need to have special knowledge to be able to evaluate the derivatives measurement and disclosure so they conform with GAAP. For example, features embedded in contracts or agreements may require separate accounting as a derivative, while complex pricing structures may make assumptions used in estimating the derivative s fair value more complex, too. (Coppinger and Fitzsimons, 2002) The preceding brings attention to the issues in evaluating the risks of derivatives, and banks having the proper staffing, financial programs and criteria to rate derivative risks on old as well as the consistently new forms being developed. Andrew Crockett, the former manager for the Bank of International Settlements, in commenting on derivatives presented the double-edged sword that these financial instruments present, and thus the inherent dangers (Whalen, 2004) When properly used, (derivatives) can be a powerful means of controlling risk that allows firms to economize on scarce capital. However, it is possible for new instruments to be based on models, which are poorly designed or understood, or for the instruments to give rise to a high degree of common behaviour in traded markets. The result can be large losses to individual firms or increased market volatility. The foregoing provides background information that relates to understanding why and how banking credit risk exposure has and is evolving. The examples provided have been utilised to illustrate this. Seeing how banks use credit risk evaluation and assessment tools to mitigate their credit risk exposure. As credit risk is the focal point throughout this study, a definition of the term represents an important aspect. Credit risk is defined as (Investopedia, 2008): The risk of loss of principal orloss of a financial reward stemming from a borrowers failure to repay a loan or otherwise meet a contractual obligation. Credit risk arises whenever a borrower is expecting to use future cash flows to pay a current debt. Investors are compensated for assuming credit risk by way of interest payments from the borrower or issuer of a debt obligation. Risk, in terms of investments, is closely aligned with the potential return being offered (Investopedia, 2008). The preceding means that the higher the risk, the higher the rate of return expected by those investing in the risk. Banks utilise a variety of credit risk evaluation and assessment tools to apprise them of credit risk probabilities so that they can mitigate, and or determine their risk exposure. There are varied forms of credit risk models, which are defined as tools to estimate credit risk probability in terms of losses from banking operations in specific as well as overall areas (Lopez and Saidenburg, 2000, pp. 151-165). Lopez and Saidenberg (1999) advise us that the main use of models by banks is to provide forecasts concerning the probability of how losses might occur in the credit portfolio, and the manner in which they might happen. They advise that the aforementioned credit risk model projection of loss distribution is founded on two factors (Lopez and Saidenberg, 1999): the multivariate, which means having more than one variable (Houghton Mifflin, 2008) distribution concerning the credit losses in terms of all of the credits in the banks portfolio, and the weighting vector, meaning the direction, characterising these credits. As can be deduced, the ability to measure credit risk is an important factor in improving the risk management capacity of a bank. The importance of the preceding is contained in the Basel II Accord that states the capital requirement is three times the projected maximum loss that could occur in terms of a portfolio position (Vassalou, M., Xing, Y., 2003). Risk models and risk assessment tools form and are a structural part of the new Basel II Accord in that banks are required to adhere to three mechanisms for overall operational risk that are set to measure and control liquidity risk, of which credit risk is a big component (Banco de Espana, 2005). The key provisions of the Basel II Accord set forth that (Accenture, 2003): the capital allocation is risk sensitive, separation of operational risk, from credit risk, vary the capital requirements in keeping with the different types of business it conducts, and encourage the development and use of internal systems to aid the bank in arriving at capital levels that meet requirements An explanation of the tools utilised by banks in terms of evaluation as well as assessment will be further explored in the Analysis segment of this study. The steps and methodologies used by banks to identify, plan, map out, define a framework, develop an analysis and mitigate credit risk. The process via which banks identify, plan, map out, define frameworks, develop analyses, and mitigate credit risk represent areas as put forth by the Basel II Accord, which shall be defined in terms of the oversight measures and degrees of autonomy they have in this process. In terms of the word autonomy, it must be explained that the Basel II Accord regulates the standard of banking capital adequacy, setting forth defined measures for the analysis of risk that must meet with regulatory approval (Bank for International Settlements, 2007). This is specified under the three types of capital requirement frameworks that were designed to impact on the area of pricing risk to make the discipline proactive. The rationale for the preceding tiered process is that it acts as an incentive for banks to seek the top level that affords them with a lowered requirement for capital adequacy as a result of heightened risk management systems and processes across the board (Bank for International Settl ements, 2007). The foregoing takes into account liquidity (operational) risk as well as credit risk management and market risk. The risk management active foundation of the Basel II Accord separates operational risk from credit risk, with the foundation geared to making the risk management process sensitive, along with aligning regulatory and economic capital aspects into closer proximity to reduce arbitrage ranges (Schneider, 2004). The process uses a three-pillar foundation that consists of minimum capital requirements along with supervisory review as well as market discipline to create enhanced stability (Schneider, 2004). The three tiers in the Basel II Accord, consist of the following, which are critical in understanding the steps, and methodologies utilised by banks to identify, plan, map, define frameworks, analyse and mitigate risk (Bank for International Settlements, 2007): Standardised Approach This is the lowest level of capital adequacy calculation, thus having the highest reserves. Via this approach risk management is conducted in what is termed as a standardised manner, which is founded on credit being externally assessed, and other methods consisting of internal rating measures. In terms of banking activities, they are set forth under eight business categories (Natter, 2004): agency services, corporate finance, trading and sales, asset management, commercial banking, retail banking, retail brokerage, payment and settlement The methodology utilised under the standardised approach is based on operational risk that is computed as a percentage of the banks income that is derived from that line of business. Foundation Internal Rating Based Approach (IRB) (Bank for International Settlements, 2007) The Foundational IRB utilises a series of measurements in the calculation of credit risk. Via this method, banks are able to develop empirical models on their own for use in estimating default probability incidence for clients. The use of these models must first be reviewed and cleared by local regulators to assure that the models conform to standards that calculate results in a manner that is in keeping with banking processes in terms of outcomes and inputs to arrive at the end figures. Regulators require that the formulas utilised include Loss Given Default (LGD), along with parameters consisting of the Risk Weighted Asset (RWA) are part of the formulas used. Banks that qualify under this tier are granted a lower capital adequacy holding figure than those under the first tier. Advanced Internal Rating Based Approach (IRB) (Bank for International Settlements, 2007) Under this last tier, banks are granted the lowest capital adequacy requirements, if they qualify by the constructing of empirical models that calculate the capital needed to cover credit risk. The techniques, personnel and equipment needed to meet the foregoing are quite extensive, requiring a substantial investment of time, materials, funds, and personnel to accomplish the foregoing, thus this measure generally applies to the largest banks, that have the capability to undertake these tasks. As is the case under the Foundation Internal Rating Based Approach, the models developed must meet with regulator approval. Under this aspect of the Basel II provisions for this tier, banks are permitted to create quantitative models that calculate the following (Bank for International Settlements, 2007): Exposure at Default (EAD), the Risk Weighted Asset (RWA) Probability of Default (PD), and Loss Given Default (LGD). The above facets have been utilised to provide an understanding of the operative parameters put into place by Basel II that define the realm in which banks must operate. These tiers also illustrate that the depth of the manner in which banks identify, plan, map out, define frameworks, analyse and mitigate credit risks, which varies based upon these tiers. Under the Standardised Approach the formulas are devised by the regulators, with banks having the opportunity to devise their own models. Graphically, the preceding looks as follows: Chart 1 Basel II Three Pillars (Bank for International Settlements, 2007) Determine the relationship between the theories, concepts and models of credit risk management and what goes on practically in the banking world. The Basel Committee on Banking Supervision (2000) states that the goal of credit risk management is to maximise a banks risk adjusted rate of return by maintaining credit risk exposure within acceptable parameters. The foregoing extends to its entire portfolio, along with risk as represented by individual credits, and with transactions (Basel Committee on Banking Supervision, 2000). In discussing risk management theories, Pyle (1997)/span> states it is the process by which managers satisfy these needs by identifying key risks, obtaining consistent, understandable, operational risk measures, choosing which risks to reduce, and which risks to increase and by what means, and establishing procedures to monitor the resulting risk position. The preceding statement brings forth the complex nature of credit risk management. In understanding the application of risk it is important to note that credit risks are defined as changes in portfolio value due to the failure of counter parties to m eet their obligations, or due to changes in the markets perception of their ability to continue to do so (Pyle, 1997). In terms of practice, banks have traditionally utilised credit scoring, credit committees, and ratings in an assessment of credit risk (Pyle, 1997). Bank regulations treat market risk and credit risk as separate categories. J.P. Morgan Securities, Inc. (1997) brought forth the theory that the parallel treatment of market risk and credit risk would increase risk management by gauging both facets would aiding in contributing to the accuracy of credit risk by introducing external forces and influences into the equation that would reveal events and their correlation with credit risk. Through incorporating the influence and effect of external events via an historical perspective, against credit risk default rates, patterns and models result that can serve as useful alerts to pending changes in credit risk as contained in Pyles (1997)/span> statement that ended in due to changes in the markets perception of their ability to continue to do so. The Plausibility Theory as developed by Wolfgang Spohn represents an approach to making decisions in the face of unknowable risks (Value Based Management, Inc., 2007). Prior to the arrival of the Plausibility Theory, Bayesian statistics was utilised to predict and explain decision making which was based upon managers making decisions through weighing the likelihood of differing events, along with their projected outcomes (Value Based Management, Inc., 2007). Strangely, the foregoing this theory was not applied to banking. The Risk Threshold of the Plausibility Theory assesses a range of outcomes that may be possible, however it does focus on the probability of hitting a threshold point, such as net loss relative to acceptable risk (Value Based Management, Inc., 2007). The new Basel II Accord employs a variant of the foregoing that is termed as Risk Adjusted Return on Capital which is a measurement as well as management framework for measuring risk adjusted financial performance and for providing a consistent view of profitability across business (units divisions) (Value Based Management, Inc., 2007). The foregoing theory of including external events in a calculative model with business lines credit risks is yet to be fully accepted as the variables from external predictive models to result in scenarios along with credit risk models is a daunting set of equations. Ascertain the scope to which resourceful credit risk management can perk up bank performance. In equating how and the scope in which resourceful credit risk management can improve bank performance, one needs to be cognizant that credit risk represents the primary type of financial risk in the bank sector as well as existing in almost all areas that are income generating (Comptroller of the Currency, 2001). From the preceding it flows that a credit risk rating system that is managed and run well will and does promote bank soundness as well as safety through helping to make and implement decision making that is informed (Comptroller of the Currency, 2001). Through the construction and use of the foregoing, banking management as well as bank examiners and regulators are able to monitor trends as well as changes occurring in risk levels (Comptroller of the Currency, 2001). Through the preceding, management is able to better manage risk, thus optimising returns (Comptroller of the Currency, 2001). The improvement of credit risk management in terms of identification and monitoring, the process when operated effectively can improve bottom line performance through laying off risk identified as potentially being problematic in the future (KPMG, 2007). Zimmer (2005) helps us to understand the nuances of transferring credit risk by telling us: A bank collects funds and originates loans. It might only be able to attract funds if it holds some risk capital that finances losses and saves the bank from insolvency if parts of its loan portfolio default. If the bank faces increasing costs of raising external finance, CRT has a positive effect on the lending capacity of the bank. Providing the bank with additional risk capital, CRT lowers the banks opportunity cost of additional lending and increases its lending capacity. As has been covered herein, credit risk represents a potential income loss area for banks in that default subtracts from income, thus lowering a banks financial performance. The Bank for International Settlements (2003) advises that the principle cause of banking problems is directly related to credit standards that are lax, which is termed as poor risk management. The preceding reality has been documented by the The Bank for International Settlements (2003) that advises that poor credit risk management procedures and structures rob banks of income as they fail to identify risks that are in danger of default, and thus taking the appropriate actions. A discussion of the means via which resourceful credit risk management enhance bank performance in delved into under the Analysis segment of this study. To evaluate how regulators and government are assisting the banks to identify, mitigate credit risk, and helping to adopt the risk-based strategies to increase their profitability, and offering assistance on continuous basis. In delving into banking credit risk management in the United Kingdom, legislation represents the logical starting place as it sets the parameters and guidelines under which the banking sector must operate. The Basel II Accord represents the revised i

Relationship Between Personality, Intelligence and Academia

Relationship Between Personality, Intelligence and Academia Alexandra Lamb The Relationship between Conscientiousness, Intellectual Ability, and Academic Performance in an Undergraduate Psychology Cohort Abstract This report examines the relationship between intellectual ability, conscientiousness and academic achievement. Psychology Students studying at the University of Adelaide (N=50) completed online versions of the OCEANIC (Schulze Roberts, 2006) and Advanced Progressive Matrices (APM; Bors Stokes, 1998). Results showed that there was a slight positive association between intellectual ability and academic performance, a slight positive association between conscientiousness and academic achievement and effectively no relationship between conscientiousness and intellectual ability. The study shows that personality traits can be promising predictors of academic achievement and thus may be useful in student development and admission systems. Introduction The relationships between personality traits, intellectual ability and academic performance have long been explored. These relationships were first used, in ancient times, for selecting civil servants in the Middle East, India and China to its current role as the driver of advanced economics (Poropat, 2011). Much of the research done in the past has been linked to theoretical and statistical reviews of the role of personality. One of the earliest applications of personality trait assessment was the prediction of academic performance (Poropat, 2009). This report attempts to further examine the relationship between personality traits, intellectual ability and academic performance in particular, conscientiousness and intellectual ability and their relationship with academic performance. Intelligence is one of the most effective empirical predictors of academic performance (Poropat, 2009). Nothing has changed since the thirties when it was suggested that one of the most important factors in academic achievement is intelligence. Intelligence is the most documented variable as a predictor of cognitive performance and in past research has shown a positive association with academic success (Busato Prins Elshout, Hamaker, 2000). In 2000 Busato conducted a study in which intellectual ability was compared to academic performance over three years. Intellectual ability was positively associated with academic achievement after one year and after three year, which is consistent with earlier studies. However, intelligence is not the only predictor of academic performance. In later research, Kappe and Flier (2012) suggested that conscientiousness, a personality trait that describes impulse control and self-regulation of behaviour (Ivcevic Brackett, 2014), is the best predicto r of academic achievement explaining five times as much variance in GPA (used to measure academic performance) as does intelligence. Earlier studies by Conard (2006) also showed positive bivariate correlations between conscientiousness and academic achievement. Whilst both intellectual ability and consciousness can predict academic performance, Poropat (2009) suggested that conscientiousness is largely independent of general intelligence. Chamorro-Remuzic, Furnham and Moutafi conducted a study in 2004 as a precursor to Poropat’s research in which they found a significant negative association between conscientiousness and two intelligence tests. They suggested that this was consistent with the idea that conscientiousness might partly develop as a compensation for low intellectual level and that high intelligent individuals may not need to engage in systematic, organised and dutiful study or work habits (Chamorro-Remuzic, Furnham, Moutafi, 2004). The goals presented above guided this study, thus this report will further examine the relationships between intellectual ability, personality traits and academic achievement as explored above, focussing on three hypotheses: Hypothesis 1, there will be a significant positive relationship between intellectual ability and academic performance; Hypothesis 2, there will be a significant positive relationship between the personality trait conscientiousness and academic performance and; Hypothesis 3, there will be a significant negative relationship between conscientiousness and intellectual ability. Method Participants The participants were 50 first-year Psychology students studying at the University of Adelaide. The participants took part in the study as part of an assessment task. Materials The OCEANIC (Schulze Roberts, 2006) was employed to measure the Big Five personality traits. Intellectual ability was measured as performance on the short form of the Raven’s Advanced Progressive Matrices (APM; Bors Stokes, 1998). Academic performance was operationalized as the participants’ final grade for the previous semester’s Psychology course. Procedure The participants were instructed to complete online versions of the OCEANIC and Advanced Progressive Matrices. They were free to perform the tasks wherever they chose, but were advised to try to complete the tasks in a quiet, distraction-free environment. The participants were instructed not to collaborate with anyone else on the tasks. There was no time limit placed upon the tasks, but it was stipulated that they had to be completed within a single test session. Results In Table 1, the means and standard deviations for the Big Five Personality traits (Openness, Conscientiousness. Extraversion, Agreeableness and Neuroticism), Intellectual ability (Raven’s APM), and Academic Performance are displayed. In Table 2, the Correlation Coefficients for the variables associated with the three hypotheses are shown (Raven’s APM and Final Grade, Conscientiousness and Final Grade, Conscientiousness and Raven’s APM). In Table 3, the r2-values for the variables associated with the three hypotheses are shown (Raven’s APM and Final Grade, Conscientiousness and Final Grade, Conscientiousness and Raven’s APM). Table 1. Means and standard deviations for the Big Five personality traits, Intellectual Ability (Raven’s APM), and Academic Performance Table 2. Correlation Coefficients for Raven’s APM, Conscientiousness and Final Grade. Table 3. r2 values for Raven’s APM, Conscientiousness and Final Grade. Hypothesis 1: There will be a significant positive relationship between intellectual ability and academic performance. Figure 1. The relationship between Raven’s APM and Final grade. According to Hypothesis 1, a significant positive relationship was expected between intellectual ability and academic performance. As shown in Figure 1, a quantitative analysis (Pearson’s correlation coefficient) indicated that there was a weak-moderate, positive relationship between Raven’s APM and final grade (r = 0.32), and that this relationship was statistically significant (p=0.02). Those who scored high in the Raven’s APM (M=7.8, SD=2.96), which operationalised intellectual ability, tended to score high in their final grade (M=69.66, SD=14.05), which operationalised academic performance. This provided qualitative support for the hypothesis. Hypothesis 2: there will be a significant positive relationship between the personality trait conscientiousness and academic performance. Figure 2. The relationship between conscientiousness and final grade. According to Hypothesis 2, a significant positive relationship was expected between the personality trait conscientiousness (M=36.58, SD=6.98) and academic performance (M=69.66, SD=14.05). As shown in Figure 2, a quantitative analysis (Pearson’s correlation coefficient) there was a weak-moderate, positive relationship between conscientiousness and final grade (r=0.39), and that this relationship was statistically significant (p=0.01). Those with high conscientiousness (M=36.58, SD=6.98) tended to score high in their final grade (M=69.66, SD=14.05), which operationalised academic performance. This provided qualitative support for the hypothesis. Hypothesis 3: there will be a significant negative relationship between conscientiousness and intellectual ability. Figure 3. The relationship between conscientiousness and Raven’s APM. According to Hypothesis 3, a significant negative relationship was expected between conscientiousness and intellectual ability. As shown in Figure 3, a quantitative analysis (Pearson’s correlation coefficient) indicated that there was an extremely weak, but effectively no negative relationship between conscientiousness and Raven’s RPM (r=-0.02), and that this relationship was not statistically significant (p>0.89). Those with high conscientiousness (M=36.58, SD= 6.98) did not consistently score high or low in Raven’s APM (M=7.8, SD=2.96), which operationalised intellectual ability. This did not provide support for the hypothesis. Discussion The purpose of this study was to examine the relationship between personality traits, intellectual ability and academic performance. Adding information, specifically relating to the relationships between intellectual ability and academic performance; Conscientiousness and academic achievement and; Conscientiousness and intellectual ability. According to the correlational analysis, intellectual ability was positively associated with academic performance. This is in accordance with the literature cited in the introduction (Poropat 2009, Busato et al. 2000). However this correlation was smaller than the correlation between personality trait conscientiousness and academic ability, reiterating research by Conard (2006) in the introduction. The r2 values for both these relationships, academic achievement and intellectual ability (r2 =0.10) and conscientiousness and academic ability (r2 =0.15), suggest that only 1% of the variability in academic achievement can be explained by intellectual ability and only 1.5% of the variation in academic achievement can be explained by conscientiousness. This suggests that there are other factors that play an important role in the variation of academic achievement. The association between conscientiousness and academic performance was also positive, suggesting that conscientiousness might have a bigger impact on academic performance than intellectual ability, which is consistent with the cited researchers Kappe and Flier (2012). The correlational research presented a very slightly negative, but effectively no association between conscientiousness and intellectual ability this does not support the relationship suggested by Chamorro-Remuzic, Furnham and Moutafi (2004) whose research highlighted a significant negative relationship between conscientiousness and intellectual ability. The r2 value for this relationship (r2 =0) suggests that 0% of the variance in intellectual ability can be explained by conscientiousness. A lesson that may be taken from this study is that whilst intellectual ability is a positive predictor of academic performance, students are also able to perform well academically if they are willing to work hard and conscientiously. Another practical perspective of the research is that intelligence is probably the most used selection criteria for entrance to tertiary education. However the findings within this study suggesting that Conscientiousness is just as good or potentially a better predictor of academic performance suggests another practical selection tool, provided it can be accurately and validly assessed. (Poropat, 2009) However, conscientiousness creates a greater chance of faking over an intelligence test. There are a number of limitations to this study. Firstly, there is a restriction of range, given it was only first year psychology students surveyed. A bivariate normal relationship may exist for the entire population whereas this relationship may not be evident for all sub-populations (i.e. Psychology students). Or otherwise, what appears to be a linear relationship for a sub-population could actually be a curvilinear relationship for the entire population (Haslam McGarty, 2014). This means the relationships found by doing the quantitative analysis may not be a representation of the wider population. It would be beneficial to conduct a meta-analysis on students of different disciplines and potentially international students to find out how generalisable the results are. The sample size of 50 participants is also small. It is unlikely to reflect the population adequately. Whilst surveys are easy to develop, cost-effective and relatively easy to administer, there are a number of limi tations associated with survey-based research. Researcher’s personal bias and idiosyncrasies are more influential in qualitative research; the knowledge of the study might also influence the participants’ responses. That is, respondents may feel encouraged to provide inaccurate and dishonest answers. Participants may interpret the survey questions and answer options differently and data errors caused by non-responses (i.e the number of participants who chose to respond to the survey as opposed to those that chose not to) may also affect the results. References Bors, D. A. Stokes, T. L. (1998). Raven’s advanced progressive matrices: Norms for first-year university students and the development of a short form. Education and Psychological Measurement, 58, 382-398 Schulze, R. Roberts, R. D. (2006). Assessing the Big Five: Development and validation of the Openness Conscientiousness Extraversion Agreeableness Neuroticism Index Condensed (OCEANIC). Zeitschrift fur Psychologie, 214, 133-14 Chamorro-Remuzic, T. Furnham, A. Moutafi, J. (2004). The relationship between estimated and psychometric personality and intelligence scores. Journal of Research in Personality, 38, 505-513. Conard, M. A. (2006). Aptitude is not enough: How personality and behaviour predict academic performance. Journal of Research in Personality, 40, 339-346. Ivcevic, Z. Brackett, M. (2014). Predicting school success: Comparing Conscientiousness, Grit, and Emotion Regulation Ability. Journal of Research in Personality, 52, 29-36. Kappe, R. Flier, H. (2012). Predicting academic success in higher education: what’s more important than being smart? European Journal of Psychology of Education, 27, 605-619. Busato, V. V. Prins, F. J. Elshout, J. J. Hamaker, C. (2000). Intellectual ability, learning style, personality, achievement motivation and academic success of psychology students in higher education. Personality and Individual Differences, 29, 1057-1068. Poropat, A. E. (2009). A Meta-Analysis of the Five-Factor Model of Personality and Academic Performance. Psychological Bulletin, 135, 322-338. Poropat, A. E. (2011). The Eysenckian personality factors and their correlations with academic performance. British Journal of Educational Psychology, 81, 41-58. Haslam, S. A. McGarty, C. (2014). Research Methods and Statistics in Psychology. Great Britain: SAGE Productions Inc.

A Critique of DiLorenzos The Real Lincoln Essay -- Thomas J. DiLorenz

A Critique of the Real Lincoln The Real Lincoln: A New Look at Abraham Lincoln, His Agenda, and an Unnecessary War, by Thomas J. DiLorenzo completely shatters the illusion of the 16th President as the liberator of the slaves. DiLorenzo provides convincing evidence for Lincoln’s overt racism as expressed in his documented views on racial supremacy as stated in his desire to colonize all American blacks outside the United States (p. 4); Lincoln’s views were matched by the majority in the North who used such tools as state constitutional amendments to prohibit the emigration of black people into Northern states like Lincoln’s home of Illinois (p. 4); and that the Presidents war which killed 620, 000 Americans and destroyed 40% of the economy, was a singularly terrible, unjustified conflict given the proven success in the 19th century of the peaceful end to slavery through the policy of compensated emancipation (p. 4). DiLorenzo accordingly notes that, â€Å"Between 1800 and 1860, dozens of count ries, including the entire British Empire, ended slavery peacefully; only in the United States was war involved (p. 4). DiLorenzo documents that history’s claims that the abolition of slavery as the leading motive behind the Union’s aggression against the South is untrue. He states that Lincoln’s motives were economic and political and in no way altruistic. Lincoln did oppose slavery, but his opposition did not stem from any moral motive. He wished to preserve white labor, and to avoid artificial inflation of Southern representation in Congress under the three-fifths clause of the Constitution, under which every five slaves counted as three free persons for the purpose of allotting number of congressional seats. DiLorenzo explains that from th... ...ding Fathers had tried to institute through the Declaration of Independence and the U.S. Constitution. Thomas DiLorenzo does a good job in documenting Lincoln’s ruthlessness and hypocrisy and how historians have covered it up. The founding fathers had a fear of federal governmental abuse. They saw state sovereignty as a protection. That’s why they gave us the Ninth and Tenth Amendments. I found this book very interesting and it makes you wonder what else we may have learned growing up that could be completely untrue according to your elementary school history books. I do however understand that there is two sides to every story and I wish DiLorenzo did a better job at explaining why history has painted Lincoln as such a hero. Works Cited DiLorenzo, Thomas. The Real Lincoln: A New Look at Abraham Lincoln, His Agenda, and an Unnecessary War. Three Rivers Press, 2003.

The 360-Degree Performance Evaluation is More Effective than the Standa

Performance Evaluations as an Effective Measuring Tool There are several types of evaluations used by public and non-public organizations. Unusually, performance evaluations consist of the employee and the supervisor. However, the 360 Degree Performance requires more than the supervisor’s perspective. It should also include the co-worker’s point of view (by answering a simple set of questions). This evaluation enforces accountability and produces self-worth and a sense of fairness. Many performance evaluations are limited. However, in using the 360 Degree Performance as a measuring tool, it has been found to be a more accurate way to evaluate an employee’s work performance. The issue is whether or not performance evaluations are an effective measuring tool for evaluating an employee’s knowledge and skills within the organization. Better yet, should employers use performance evaluations at all, or should they design personal organizational goals for each employee? This research paper will examine the effectiveness of performance evaluations, from a narrow point of view (standardize evaluation) to a boarder outlook (360 degree performance evaluation), and by enforcing the accountability from management and the staff, in meeting the overall organizational goal. Article 27 (1) http://www.upte.org/tx/contract/art27perfeval.html defines performance evaluation as â€Å"a constructive process to acknowledge the performance of a non-probationary career employee. An employee’s evaluation shall be sufficiently specific to inform and guide the employee in the performance of her/his duties. Performance evaluation is not in and of itself a disciplinary procedure.† This procedure is usually provided by the Human Resource Depa... ...ss. Drucker, Peter F. (1993). Post-Capitalist Society. New York: HarperCollins Fox J. & Klein, C. (1996). The 360-Degree Evaluation: If You Pay for Performance, Get Co-Workers in On Performance Reviews. Public Management,78 (11),p20. Hayward, Charles, Center for Leadership Development, â€Å"Philosophy and Approach†. Web 13 April 2015 http://www.teamcld.com/Philosophy.htm Mason and Hanger-Silas Mason Co., Inc. – Middletown, â€Å"Best Practice: 360 Degree Feedback Performance Appraisal/Merit System, December 17, 1999. Web 13 April 2015 http://www.bmpcoe.org/bestpractices/external/mash/mash_18.html Panoramic Feedback, â€Å"Objectives of Multi-Source Feedback†, 1998-2000. Web 13 April 2015 http://www.panoramicfeedback.com/internal/objective.htm Quinn, S. (1998). Putting the Human Back into Human Resources. Public Management, 80(9),p23.

Concert Review and Bio: Tchaikovsky Essay -- essays research papers

Classical Concert   Ã‚  Ã‚  Ã‚  Ã‚  Who likes classical music anyway? That is a question that you may have found me asking a few months ago. As I have listened to the music in class and on my CD that came with the text book, I have noticed that I am growing a little bit more fond of this style of music. I had never really given it a chance until I started attending my younger sister’s concerts and really paying attention to the music. I have realized that classical music isn’t half bad. modern rock is still the music for me, but I have really learned to like and respect classical music over the last few months. The last classical concert I attended was a Christmas themed concert last week. Along with Christmas favorites and carols, they played a song called Trepak, by Tchaikovsky. I had heard of Tchaikovsky before, but had never seen any of his music performed live.   Ã‚  Ã‚  Ã‚  Ã‚  My first impression of the concert was that the players were all dressed in black slacks or skirts and white tops. Some of them were wearing festive Santa Clause style hats and some even had garland wrapped around their instruments. The orchestra played first. They were all seated in a very specific order, facing the audience with the conductor standing on a podium in front of them. As they began to play I was very impressed with the level of skill that they played with, being only in high school. It sounded as if I was listening to a...

History of Panama Canal Essay

Christopher Columbus was on his fourth voyage and he was looking for a way to China. That’s when he came across the country named Panama, which stretches only 60 miles, where he found Indians who had tons of gold. But he was looking for a way to China so he sent his brother Bartholomew to search for more gold. At first Indians were willing to lead the Spaniards to the gold, but eventually they got tired and led the Spanish back to the coast. When the Indians did this they were abused. Eventually the Indians fought back and drove of the Spanish. Balboa is one of the people who found tons of gold and sent it back to Spain, but saved a lot for himself. With his earnings he decided to Balboa decided to settle in Hispaniola as a planter. But after some time he ended up in debt and had to abandon his life as a planter. Trying to escape his creditors Balboa hid in a ship and tried to escape, from Santo Domingo to San Sebastian, and was successful. When they arrived at San Sebastian, they discovered that it had been burned to the ground. Balboa convinced the others to travel southwest with him to a spot he had seen on his earlier expedition. In 1511, Balboa founded a colony, the first European settlement in South America – the town of Santa Maria de la Antigua del Darien. Balboa married the daughter of Careta, the local Indian chief. Soon after, in 1513, he sailed with hundreds of Spaniards and Indians across the Gulf of Uraba to the Darien Peninsula. Balboa headed an overland expedition west through very dense rainforests. Along the way they fought many local Indians and destroyed one Indian village, killing hundreds of Indians. Balboa was the first European to see the eastern part of the Pacific Ocean. Balboa and his men then traveled to the ocean and claimed it and all the land that touched it for Spain. The building of the Panama Canal came to light during the 1530’s. As they began to transport their riches back to the Spanish homeland, they were always interested in more efficient routes. It was suggested to Spanish Ruler Charles V that Panama might serve as an ideal place to construct a water passage joining the Pacific and Atlantic Oceans. This would considerably cut the time it took to otherwise sail around the southern edge of South America. But wars back home put the idea on hold. In 1845 French company called the Compagnie de Panama wanted a railroad built by Colombia across Isthmus and administer it for 99 years. However in 1848 they couldn’t pay for it and lost their rights regarding the railroad. In 1848 the California gold rush occurred. This alone caused heavy traffic across the Isthmus of Panama. Later that year in December, U. S Company, the Panama railroad company negotiated a new contract with Bogota, Colombia to build the railroad across the Isthmus in 6 years. Part of the contract said that the trip would be guaranteed in less than 12 hours. The railroad was built and completed the journey in 4 ? hours. But Matthew Fontaine Maury, leading U. S. government scientist wrote to congress that the railroad Isthmus of Panama will lead to the construction of a ship canal between the two oceans, for a railroad can’t do the business which commerce will require it. Railroad was expensive it cost $250 in gold to ride the 47 miles. It cost 10-15 cents a pound to carry a passenger’s baggage. Express freight and merchandise was charged $1. 80 per cubic foot. Railroad Company made more than $7 million. This was too expensive for normal people and Maury’s words of 1849 came true as men from around the world began to arrive to build the Panama Canal. The first country to try and build the canal was France. Ferdinand de Lesseps, who supervised the Suez Canal, was interested in building the Panama Canal. He joined several French businessmen to form a private company with an impressive name: the Societe Civile Internationale du Canal Interuceanique du Darien. The societe sent Lucien Napoleon- Bon parte Wyse, grandnephew of the 1st French emperor, Napoleon Bon parte to Panama in early November 1876, to survey the site for a canal and, more important, to secure the permission of Colombia for such a project. Colombian government and Wyse had an agreement. That for an initial payment of nearly $200,000 as well as yearly rental fee, societe was granted permission to build and administer a canal for 99 year lease. Colombia gave societe a belt of land 200 meter wide across the entire width of Panama. However at the end of 99 years the canal and land would be returned to Colombia. In 1873 U. S. had conducted surveys of a potential route across Panama, but had rejected it. Wyes never did surveys, and decided to use the notes of U. S. surveys instead. After that he left Panama for home to report to Lesseps. The French plan was simple a channel across the Isthmus at sea level. They would follow a route that ran close to the existing Panama railroad. They planned to use the railroad to transport supplies and haul away the excavated dirt. Once the excavation had reached sea level the canal itself would be dug another 27 ? feet deep, and 72 feet deep at its bottom. They planned to complete the canal in 12 years. However the idea of sea level canal was impossible to achieve. Charges river valley, through which and canal would have to go through stood at an altitude of 80-100 feet above sea level. Nobody including de Lesseps ignored this problem and said it was not serious. However the French never finished the sea level canal. 1000’s of men died of malaria, yellow fever and other diseases. Eventually in 1889 the French court also declared the French canal company was bankrupt. In 1903 Panama declared its independence from Colombia and wins it with the help of U.  S. Soon the Hay- Bunau – Varilla treaty was signed which gave U. S. the right to build a canal through Panama. At this time President Roosevelt was in charge. Roosevelt wanted to build the canal to increase America’s navy power, and it made the trip from the east coast to the west coast of the U. S. much shorter than the route taken around the tip of South America. 1904, the Americans’ first year in Panama, mirrored the French disaster. The chief engineer, John Findlay Wallace, neglected to organize the effort or to develop an action plan. The food was putrid, the living conditions abysmal. Political red tape put a stranglehold on appropriations. Disease struck, and three out of four Americans booked passage home. Engineer Wallace soon followed. The Americans had poured $128 million into the swamps of Panama, to very little effect. Wallace’s replacement was John Stevens. Stevens had built the Great Northern Railroad across the Pacific Northwest. In rough territory from Canada to Mexico, he had proven his tenacity. And his new plan of action would ultimately save the canal. Stevens began work not by digging, but by cleaning. Thanks to the work of WILLIAM GORGAS, the threats of yellow fever and malaria were greatly diminished. Then on February 12, 1907, a dispirited Chief Engineer Stevens resigned, and Goethals took over as the chief engineer. Colonel George Washington Goethals, an Army engineer with experience building lock-type canals, assumed the Chief Engineer’s post. Demanding and rigidly organized, Goethals quickly picked up where Stevens left off. America had to face a couple of problems. First they had to dig at the Culebra Cut, where 100,000,000 cubic yards of earth and rock would have to be removed. The workers there made ten cents an hour — moved as much as 200 trainloads of spoil a day. When mudslides filled the Cut repeatedly, Goethals simply ordered it dug out again. There were accidents of all sorts, lost equipment, and deaths, but there was progress. The engineering problems were enormous. Because the Atlantic and Pacific Oceans are at different elevations, a series of three sets of water-filled chambers, called locks, that raise and lower ships from one level to the next, had to be excavated and constructed.

Stop Smoking

Every hour that ticks by 50 Ameri undersides die. have is killing Ameri digests daily. slightly 1,200 people die a daytime from sens. Most people dont understand what smoking does to their bodies. Smoking can damage lungs, lay waste to teeth, and brace warm aging. For starters, smoking can land a toll on your lungs. Carcinogens are what hold ins up cigarettes. This chemical causes see-through build up on the in spite of appearance of your lungs. This is also called tar. Tar buildup can lastly break down the cells of the lungs and lead to cancer.Emphysema is a condition that often happens when the smoke is released into the standard atmosphere sacs. Thus, the air sacs are destroyed and meet elasticity. People who suffer from emphysema look shortness of breath and have a hard time with the slightest bit of exertion. mean getting up out of your run and walking into the kitchen and by the time you march on the kitchen you are winded. Furthermore, smoking can cause your t eeth to rot. Smoking decreases the calcium incorporation which means your trick outs arent as dense and more fragile.It also causes tobacco plant stains on your teeth. The Journal of the American medical Association examined a group of 3,531 children of age(p) from 4 to 11. They found that 53% of those with fillings of alveolar consonant decay also had high levels of cotinine, a nicotine derivative, in their blood. As a result, nonoperational smoking is responsible for up to 27% of tooth decay in children. Finally, smoking can cause you to age quicker. The moment you take a drag on a cigarette you are beginning to bring down years off your life.When you smoke, you increase your risk of dying from heart disease, stroke, lung disease, eye disease, bone disease, and cancer of almost every organ. tobacco smoke compromises the production of collagen, elastin, and pare proteins that make skin strong and elastic. Without the support of these skin components, the skin degrades fast er and more severely. Smoking is one of the worst things you can do to yourself. I hope by indicant this you will never smoke or stop smoking. Smoking will precisely damage your lungs, rot teeth, and cause quick aging. Just ask yourself. Is it worth it?