Dickens & education in Hard Times Essay

In Hard occasions we see two adaptations of the universe of instruction. The main view is that of Thomas Gradgrind’s and his â€Å"model school†. A spot where realities are esteemed and creative mind is viewed as insignificant. This is the utilitarian view. The subsequent view is stood out from the utilitarian view and is that of Mr Sleary’s bazaar. This is a spot with much information esteeming both creative mind and training. A spot without the abundance of the Gradgrind’s yet much in mankind. This is the â€Å"fanciful† world. I think Dickens is revealing to us that there are various methods of raising and instructing youngsters. It is tied in with getting the correct harmony among instruction and creative mind. For instance Sissy was raised by her dad and didn’t go to class however was very knowledgeable as she â€Å"used to peruse to him,† yet her dad let her utilization her creative mind as she read the â€Å"wrong books† from Gradgrind’s perspective. Which were about â€Å"Fairies †¦ and the Hunchback and the Genies. † But when she went to Gradgrind’s house to live there she was cut off from having a creative mind, as so was attempting to learn realities. The peruser knows this as Sissy says, † I am †O so idiotic! † when truly she isn’t idiotic by any means, it is only that she has been compelled to be raised the utilitarian way, which is the incorrect path for her, as she is accustomed to having a harmony among instruction and creative mind yet Gradgrind hasn’t permitted it. She â€Å"became low †energetic, yet no more astute. † This is on the grounds that she has a passionate memory thus she can’t gain proficiency with the realities since she is being educated with an utilitarian view thus she can’t connect an inclination to what she is being instructed. This is the manner by which Dickens infers that various individuals learn various ways and at various rates. For Gradgrind it could be contended that it was the correct route for him as he was taught by his dad the utilitarian way. He turned into a model understudy and claimed a school. The peruser realizes that he was a model understudy as Dickens lets us know â€Å"five youthful Gradgrinds †¦ were models everybody. † And â€Å"They had been addressed at from their tenderest years. † And in Gradgrind’s eyes this had worked so â€Å"He planned each youngster to be a model†. Yet, what Gradgrind doesn’t acknowledge is that all kids are extraordinary and should be raised various ways, which is the thing that Dickens is proposing to the peruser.

Pump And Hydraulic Fluid Engineering Essay

Siphon And Hydraulic Fluid Engineering Essay Presentation: This task for the most part discusses the water driven framework in an airplane. The water powered framework in an airplane is use for working different administrations, for example, landing gear, wheel brakes and force flight controls and so forth. Every framework has its own pressure driven circuit inside the framework. These autonomous circuits are associated with the regular weight and return lines of the water driven force circuit. A total force water powered framework comprises of the accompanying; A force or conveyance circuit, Various assistance circuits, Crisis circuits. The following is the graph of essential water driven framework; http://www.ustudy.in/locales/default/documents/pictures/pressure driven system.gif Errand Two: Siphon: Siphon gives pressurize water powered liquid to the framework by involving the liquid which originates from the repository. Siphon can pressurize the liquid up to 5000 psi. relies upon various siphons. Weight Reducing Valve: The Pressure Reducing valve decreases the framework yield strain to a weight appropriate for working a particular framework or segment. Weight Relief Valve: At whatever point there is extreme weight in the framework the weight alleviation valve reliefs the additional weight. Supply: The capacity of repository in the water powered framework is to store the water powered liquid and conveys the water driven liquid to the siphon which at that point gives the pressurize liquid to the framework. The store likewise pressurize the liquid up to 40psi so as to not get cavitation. Engine: The capacity of Motor is to help in connecting with the siphon and furthermore help in beginning the framework. Sifter: Sifter is a channel. It sift through the earth before the liquid goes to the siphon. There are high and low weights sifters, regularly the high weight sifter are after the siphon and low weight are before the siphon. Undertaking Three: B767 Water power SYSTEMS Presentation: This plane has three autonomous power through pressure frameworks which are; Left Hydraulic framework This water power framework controls the; Flight controls Left side motor Thrust inversion It comprises of; Store, Motor Driven siphon, and Electric engine driven siphon Right Hydraulic framework This framework is like Left water powered framework and it comprises of same; Store, Motor driven siphon, and Electric engine driven siphon This framework controls the; Flight controls, Right side motor Thrust inversion, Ordinary brakes, and Pitch upgrade Focus hydrodynamics framework The framework comprises of; Repository, Two Electric engine driven siphons, An Air driven interest siphon, and Rodent (Ram Air Turbine) siphon It controls the; Flight controls, Nose wheel controlling, Folds and braces, Exchange brakes, Landing gear, Water powered driven generator, and Tail slide So essentially the pressure driven arrangement of this airplane controls the; Flight controls, Driving edge supports, Trailing edge folds, Landing gear, Wheel brakes, Nose wheel guiding, Autopilot servos, Push inversions, and Tail slide Flight control framework parts are appropriated with the goal that any pressure driven framework can give satisfactory plane controllability. Every single water driven store supplies liquid to siphons and these siphons pressurized the framework and the repositories are pressurized by drain air framework. Beneath figure shows three free framework what they comprise of and to what they power. It additionally show there switches in the cockpit. Water driven SYSTEM SCHEMATICS Liquid SUPPLY Water driven liquid is provided to each siphon from a store. Supplies are pressurized from drain air framework. There is liquid amount estimated gadget in all the supplies which gives data on EICAS status show. At the point when RF lights up on the EICAS status page then the supplies requires topping off before dispatch. Substantial just when plane is on ground with the two motors shutdown or in the wake of arriving with folds up during taxi-in. As appeared in figure underneath; The QTY (1) light enlightens and the EICAS warning message for example L HYD QTY shows which implies that left side supply liquid amount is low. SYS PRESS (2) lights up when the framework pressure is less. Motor DRIVEN PUMP: The essential pressure driven framework siphon is motor driven siphon. As there are two motors on this airplane it has two motors driven siphon left and right. It runs with the motor and pressurized the framework. At the point when the siphon yield pressure is low the essential siphon PRESS light enlightens on the water powered overhead board and an admonition show on the EICAS for example (on the off chance that it is correct side) R HYD PRIM PUMP. At the point when the siphon temperature is high OVHT light enlightens on the pressure driven overhead board and again an admonition show on the EICAS for example (on the off chance that its left side) L PRIM HYD OVHT ELECTRIC MOTOR DRIVEN PRIMARY PUMP: The two place electric engine driven essential siphons are indistinguishable from the left and right frameworks electric engine driven siphons. The C2 siphon might be load shed consequently to diminish electrical burdens. As should be obvious the figure above it has additionally a similar PRESS low weight and over warmth OVHT alerts on pressure driven overhead board. The related EICAS messages for low yield pressure C HYD PRIM 1 or C HYD PRIM 2 and for over warmth C HYD 1 OVHT or C HYD 2 OVHT. ELECTRIC MOTOR DRIVEN DEMAND PUMP: An electric engine driven interest siphon gives an extra water driven force either on request or constantly for times of high framework request. The interest siphon additionally gives a reinforcement pressure driven force hotspot for the motor driven essential siphons. To decrease electrical burden, the electric interest siphon is restrained on the ground during motor beginning of either motor, when just a single electrical generator is working. The interest siphon PRESS and SYS PRESS lights enlightens when turning over motors on the ground. As appeared in the figure underneath the overhead pressure driven board with alerts. The alerts will likewise show on the EICAS for example R HYD DEM PUMP. AIR DRIVEN DEMAND PUMP: An air driven interest siphon likewise gives extra water driven force either on request or persistently for times of high framework request. This siphon gives the reinforcement pressure driven capacity to electric engine driven essential siphons. As appeared in picture above it shows the alerts on the water driven board PRESS when its low weight and OVHT when the siphon come over warmth. The admonition can likewise be seen in EICAS. Rodent (RAM AIR TURBINE) PUMP: This siphon is utilized in crisis conditions it gives water driven capacity to the flight control bit of the middle pressure driven framework. The RAT gives sufficient water driven force at the speed over 130 bunches. In flight, the RAT conveys consequently when both motor falls flat. The RAT is repressed from auto arrangement on the ground. The RAT can be conveyed physically by pushing the RAT switch. The UNLKD light enlightens and the EICAS warning message RAT UNLOCKED showcases when the RAT isn't stowed and bolted. When the RAT is delivering the weight the PRESS lights enlightens. The SYS PRESS light lit up if RAT is just the wellspring of focus framework pressure. When the RAT is conveyed then it can't be stowed in flight. Framework PRESSURE INDICATIONS: The SYS PRESS lights enlightens and the EICAS alert message for example ( for left water driven framework) L HYD SYS PRESS when the left side water powered framework pressure is low same for the correct side and focus framework. Water powered DRIVEN GENERATOR: Water powered driven generator is consequently controlled by the inside framework when electrical force is lost from both fundamental AC transports. The middle air request siphon at that point works persistently to guarantee adequate water driven strain to drive the generator. Pressure driven PANEL: Framework Pressure (SYS PRESS) Lights: Lit up (golden) framework pressure is low. Supply Low Quantity (QTY) Lights: Lit up (golden) repository amount is low. Left/Right Engine (L/R ENG) Primary Pump Switches: ON the motor driven water powered siphon pressurized when motor turns. OFF (ON not obvious) the motor driven water powered siphon is killed and depressurized. Siphon Pressure Lights (PRESS) : Lit up golden Pump yield pressure is low. Siphon Overheat (OVHT) Lights: Lit up golden siphon temperature is high. Focus 1/2 Electric (C1/2 ELEC) Primary Pump Switches: ON the electric engine driven siphon pressurized the middle water powered framework. OFF the electric engine driven siphon is killed and isn't pressurizing the framework. Left/Right Electric and Center Air ( L/R ELEC and C AIR) Demand Pump Selectors: ON constant activity AUTO Left/Right electric siphons work when motor siphon pressure is low. Focus air request siphon works when both focus electric siphon pressure is low. Focus AIR request siphon works when substantial burden things are chosen. OFF Pumps are killed LANDING GEAR: Presentation: The plane has two fundamental landing apparatus and single nose gear. The nose gear is a steerable with two wheel unit. Every fundamental apparatus has four wheels couple sets. Water driven force for withdrawal, expansion, and controlling is provided by the middle pressure driven framework. An elective expansion framework is likewise given. The following is the schematic of the arrival gear framework; Air Ground Sensing System: The air ground detecting framework gets air ground rationale signals from tilt sensors situated on every principle arrival gear. These signs are utilized to design the plane framework to the suitable air or ground status. A nose air ground framework gets signals from nose gear swagger pressure sensors. These signs are for controlling slow down notice and segments of the alert and cautioning framework. LANDING GEAR UNDER NORMAL OPERATION: The arrival gears are typically constrained by the arrival gear switch. On the ground, the switch is held in DN position by a programmed switch lock constrained by the principle gear tilt sensor. The switch lock can physically superseded by pushing and holding the arrival gear switch LOCK OVRD switch. In flight, the switch lock is consequently discharged through the air ground detecting of primary apparatus tilt sensor. Landing Gear Retraction: At the point when the arrival gear switch is situated to UP, the tilted landing gear be

Two Decades of Terrorist Activity free essay sample

This paper talks about the psychological militant exercises all through the world during the previous two decades and how they have affected on our lives. The accompanying paper characterizes the term psychological oppression and makes explicit reference to the September eleventh assaults. It analyzes how fighting and controlling psychological oppression requires new systems of collaboration and recommends new methodologies. The essayist attests that fear based oppression impacts on our lives incredibly anyway individuals can not leave from their ordinary schedules and cover up inside their homes since then the psychological militants will have won by devastating the populaces lifestyle. ?We absolutely lost our guiltlessness on September eleventh, however it appeared to create another mankind in this nation. Individuals came out of the edges of the nation in large numbers to send their assistance in any capacity they could. Our hearts went out to those who lost their lives or friends and family. We abruptly had another regard for those in uniform we ordinarily underestimate, for example, the police officers, fire fighters, and security watches who chance their lives regular. We will compose a custom article test on Two Decades of Terrorist Activity or on the other hand any comparable theme explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page While, fear based oppression has become a lifestyle for some in different pieces of the world, for example, Israel, for the United States it despite everything is hard to acknowledge. Nonetheless, with everything taken into account, our lives proceed with much as in the past. Were maybe increasingly mindful, progressively inquisitive of outsiders, and progressively slanted to pay heed to peculiarities going on in our neighborhoods. What's more, we may need to hold up somewhat longer to load onto our planes, however grumbling doesnt appear to be in anyones jargon nowadays.?

NYU School of Medicine Offers Free Tuition to All Med Students

According to an NYU press release, NYU School of Medicine will become the first top-tier U.S. medical school to offer full-tuition scholarships to all current and future MD program students. These scholarships are available regardless of need or merit. More than $450 million of the estimated $600 million it will need to finance the scholarship program has already been raised. Tuition payments already made for this year will be refunded, and student loans will be repaid by the school. NYU is offering these scholarships to address the mounting cost of medical school while drawing the brightest students from the pool of future doctors. The announcement of the scholarships was made at the end of the White Coat Ceremony, during which each incoming med student is given a white lab coat, which indicates the beginning of their medical training. Kenneth G. Langone, chair of the Board of Trustees of NYU Langone Health, says: â€Å"Thanks to the extraordinary generosity of our trustees, alumni, and friends, our hope – and expectation – is that by making medical school accessible to a broader range of applicants, we will be a catalyst for transforming medical education nationwide.† This does not mean that NYU medical students will be getting a free ride. Most students will still have to pay for room and board and other living expenses which can total $29,000/year. Robert I. Grossman, MD, the Saul J. Farber Dean of NYU School of Medicine and CEO of Langone Health, touched on the skyrocketing debt that med school students graduate with. He explains: â€Å"This decision recognizes a moral imperative that must be addressed, as institutions place an increasing debt burden on young people who aspire to become physicians.† The AAMC states that in 2017, 75% of all doctors in the U.S. graduated with debt. This high level of debt is negatively affecting U.S. healthcare. Many graduates decide to pursue specialties where they will earn more money, thereby leading to a lack of primary care physicians, pediatricians, obstetricians, and gynecologists (who traditionally earn less than other specialties). Fearing graduating med school and having to repay over $200,000 in loans, many potential med school students decide against a medical career. There are federal loan programs available for students pursuing these lower-paying specialties. Loan payments are linked to discretionary income. Depending on the geographic area where they work, their loan balances are forgiven after 10 or 25 years. Unfortunately, due to compound interest, the principal balance is minimally reduced. â€Å"A population as diverse as ours is best served by doctors from all walks of life, we believe, and aspiring physicians and surgeons should not be prevented from pursuing a career in medicine because of the prospect of overwhelming financial debt,† stated Dr. Grossman. He also said that NYU has â€Å"taken a necessary, rational step that addresses a critical need to train the most talented physicians, unencumbered by crushing debt. We hope that many other academic medical centers will soon choose to join us on this path.† This is not the first time NYU School of Medicine has made changes to improve medical education. In 2013, they became part of a small group of U.S. med schools that offered an accelerated three-year curriculum. This change enabled doctors to enter their field earlier, which made them more productive and decreased their debt. Although this innovation decreased the debt level, it did not eliminate it. According to Steven B. Abramson, MD, Senior Vice Dean for Education, Faculty, and Academic Affairs: â€Å"This tuition-free initiative is the next big milestone in NYU School of Medicine’s effort to transform medical education. The model of medical education needs to address changing scientific, social, and economic circumstances as well as dramatic changes in the healthcare delivery system.† Are you applying to NYU or another top medical school? Work one-on-one with an expert admissions advisor to create an application that will get you ACCEPTED! Check out our Medical School Admissions Services for more information. For 25 years, Accepted has helped applicants gain acceptance to their dream healthcare programs. Our outstanding team of admissions consultants features former admissions directors, admissions committee members, pre-health advisors, postbac program directors, and doctors. Our staff has guided applicants to acceptance at allopathic (MD) and osteopathic (DO) medical schools, residencies and fellowships, dental school, veterinarian school, and physician assistant programs at top schools such as Harvard, Stanford, Penn, UCSF, Johns Hopkins, Columbia, and many more.  Want an admissions expert  to help you get Accepted? Click here to get in touch! Related Resources: †¢Ã‚  What’s the Cost of Applying to Med School? †¢ NYU Secondary Application Tips †¢ Admissions Straight Talk Podcast

Creating an EcOS Database Essay - 1474 Words

How to create an EcOS database? In EcOS, data and metadata are stored in time series database. An EcOS database has some key characteristics: †¢ An EcOS database acts as a container for data, metadata, and objects. †¢ The database structure is governed by its attributes. †¢ Since it is a time-series database, each series stored is tied to a time dimension. †¢ Each time series has a default scale. This video shows how to create an EcOS database. Step 1. Planning. Before constructing a database in EcOS determine the processes of database creation, updating and maintenance. (You should determine the processes of database creation, updating and maintenance before constructing a database in EcOs.) †¢ For example, try to tThink about the attributes†¦show more content†¦First, we need to Clickclick the Add attribute button from the Definition toolbar and . tThe Attribute dialog box appears. In the Name field, replace default name Attribute with Code. In the Data type field you should select the attributes type from the drop-down menu. For our example we leave it as Text. The Definition field is only enabled when Data type is set to Definition. In the Applies to field from the drop-down you should select what the attribute is to be applicable for. Let’s select Items and Groups. The Regular expression field is optional and enables users to set up a suggested layout for an attribute. The following checkboxes are used for setting up the corresponding options for the attribute. For our example let’s check Unique and Requested. Then click OK. The My country definition is now updated with two attributes, attributes both the Name and Code. Save changes: Simply click the Save button from the toolbar to save any changes. 3. How to upload content for a definition? One of the most convenient features in EcOS is that you can easily import your files to the database. Let me your how to do it. To start, I need to We have the Excel file with two columns: Name and Code of countries. I thenTo import this Excel file with elements by clicking the Import button from the toolbar of the Definition tab. The application opens the Definition import wizard. On the first tab, I select the items to import.: It can beShow MoreRelatedToyota: an Industrial Role Model1510 Words   |  7 Pagesprograms were designed to educate dealerships and employees on becoming more eco-friendly and sustainable. The result was Toyota launching their Green Supplier Guidelines in 2001, in hopes that the suppliers would follow the same path (Toyota 47). The search for energy savings has produced what Toyota calls a â€Å"treasure hunt†, in which suppliers have access to tools and resources that Toyota themselves use to remain eco-friendly. 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Essay about Thomas Jefferson - 2279 Words

Thomas Jefferson was who authored extraordinary words and it was there words that changed a nation. Jefferson’s ability to write made him prominent author of write the Declaration of Independence, (among other significant works). Jefferson’s writings reflected on the rights of mankind and what rights a government must offer its people. His use of words to fight for Human rights makes him one of the greatest American Hero’s. Thomas Jefferson’s writings on basic human rights caused a radical shift in American Colonist thoughts and these stunning ideas would influence the Americans to break away from Great Britain. â€Å"As a boy, Thomas Jefferson’s was shy and often tongue-tied†¦Preferred the company of books to that of most people.† (Wilmore,†¦show more content†¦A Summary was a relatively short piece, with its point to be speaking towards the American people in general not just to an elitist group. It looked upon the struggle for justice within American Colonist’s lives (Bottorff, 33). However Jefferson’s main idea within this book was that the British government had too much authority over Colonial America (Peterson, 1). A Summary contained grievances to the British government and toward the King himself. Jefferson even went through out British history to prove his ideas of self government. The radical Whig Party in America also upheld these ideas and through this book felt that Jefferson was on their side (Passos, 169). In A Summary Jefferson also wrote that the colonist should ask for favors from the King instead of rights however those favors wer e clear and they need to be able to self-govern their selves (Donovan, 66). Jefferson’s views on the rights of mankind can be express through a quote in his work â€Å"Every Individual is equal to every individual.†(Bottorff, 33) His message is clear it is that no man should rule over another man nor should any man be treated with a different respect with then others. 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Part 2: Response Write a 350-word response to the following question: How â€Å"Jeffersonian† was Thomas Jefferson as president? Jefferson doesnt fit neatly into the label Jeffersonian†. Jeffersons commitment to the separation of church and state, his  Virginia Act for Establishing

The possible truths depicted in the text Essay Sample free essay sample

Possible truth depicted in the intelligence point provided may be that a meeting was held at mmankweng infirmary emerging hall. The possibility at the above may be depicted in the exposure taken by Elijah mushiana. The exposure shows a vehicle parked in forepart of the hall and masses fluxing into the hall. The exposure gives one the backbones to believe that it is true that a meeting was truly held at mankweng. Again other truth which can be depicted from the intelligence point provided may be that in the instance of the meeting they besides highlighted a intelligence crew from sowetan unmasking did go to the meeting with base once more the truth of stating a meeting was held can be classified as reliable. Phrases transporting component of persuasion The phrase transporting persuasion is the phrase â€Å"†¦the meeting was sparked sowetan exposed. . † with this phrase. sing the word â€Å"sparked† seek to set accent in our heads in carrying what they wrote is truth since they were to go to the meeting so they are besides informant of the meeting. We will write a custom essay sample on The possible truths depicted in the text Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page More over the caput of the narrative. so much persuasive â€Å"†¦HOSPITAL STUFF ON WARPATH. . † . this phrase is carrying one to believe that there was pandemonium in the hospital staff members angry with their senior forces to an extent of endangering to throw out them. Besides the usage of equivocal words like â€Å"disgruntled† seeking to arouse our heads indulging a image in our heads or an imaginativeness of what the state of affairs was at mankweng infirmary. Purposes of discourse in the text A discourse in its definition is showing oneself arousing a peculiar response from readers world every bit clearly as possible. A discourse can be either persuasive or expressive in footings of its intents. In this text. expressive discourse can be identified if one takes note of the words like â€Å"disgruntled† where the author is seeking to show how the material members were angry to their senior forces. More over persuasive discourse may be identified if one takes note of the statement â€Å"†¦the meeting was sparked by sowetan expose with the gender of insecure and unhealthy conditions while in attention of the infirmary †¦Ã¢â‚¬  with the above statement a discourse is seeking to carry one into believing that what is represented by the newspaper is true world. One will hold to believe after being told that the intelligence crew of the sowetan truly visited the infirmary in order to go to a meeting at the hospital’s emerging hall Formulate two distinguis hable discourses emulated in the text. Two distinguishable discourses which can be emulated from this text are foremost the headline on its ain its merely compression of few words but intending things may be deduced from such a headline which reads â€Å"†¦HOSPITAL STUFF MEMBERS ON A WARPARTH†¦Ã¢â‚¬  this drives or carry us to be eager to read more about what happened at mankweng. this is proved to be made credible by the exposure inserted in order for audiences to hold genuineness on what is being said to be regarded as true. Since a exposure is something that neer lies but tells truth as it is. In add-on. the 2nd discourse emulated in the text is that of doing us believe that the infirmary is in a bad state of affairs since people are deceasing who came for the deliverance of their lives as patients. Due to the hapless services provided by the infirmary. Death records were emulated in this text in order to convert us into believing that truly the infirmary was in a critical province and it needed deliverance and steps to be taken in order to do the lifesaving establishment map really proper by throw outing of the three senior forces whom they blame for supplying hapless service to the infirmary.

Should Animals be Used in Medical Research free essay sample

Animal research has contributed to 70 per cent of Nobel prizes for physiology or medicine. Without it, medically we might have been stuck in the Dark Ages. Animals should be used in medical research because it is still the best way of finding out what causes disease, and of knowing whether new treatments will be safe and effective.The study of animals is a vital part of the research process because it helped scientists to understand how different organs in healthy body works. Also, Animal bodies are similar to human bodies in a way that they perform  many vital functions such as breathing, digestion, movement, sight, hearing and reproduction. This helped scientists to understand if any of these organs not working well what possible treatments can be done to treat them. Due to this, advance scientific knowledge about human body was not possible without using animal for medical research.Animals are used as a model to study disease. We will write a custom essay sample on Should Animals be Used in Medical Research? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Human and animals share hundreds of illnesses. Consequently, animals can act as models for the study of human illness. For example,  Dogs suffer from cancer, diabetes, cataracts, ulcers and bleeding disorders such as haemophilia, which make them natural candidates for research into these disorders. Cats suffer from some of the same visual impairments as humans. From such models we learn how disease affects the body, how the immune system responds, who will be affected, and more.Many Diseases have been cured or being treated today after doing lot of research on animals. Antibiotics, insulin, vaccines for polio and cervical cancer, organ transplantation, HIV treatments, heart-bypass surgery are some of the examples. we should be proud of our scientists; whose work is a hope to those suffering from incurable disorders. It is not only drugs and vaccines. Two weeks ago, researchers in Seattle announced that they had used an electronic brain implant to enable a monkey to move its paralysed limbs, a discovery with the potential to allow severely disabled people to regain movement.In Conclusion, no one will be happy to use animals if there is no need. It gives no one any pleasure. It is expensive, time consuming, performed under certain regulations. Yet it is best way to find what causes diseases, and what treatments will be safe and effective.

Contrast Essays - Robert Frost, Free Essays

Robert Frost Compare/Contrast Essays - Robert Frost, Free Essays Robert Frost Compare/Contrast Robert Frost takes our imagination to a journey through wintertime with his two poems Desert Places and Stopping by Woods on a Snowy Evening. Frost comes from a New England background and these two poems reflect the beautiful scenery that is present in our part of the country. Even though these poems both have winter settings, they contain very different tones. One has a feeling of depressing loneliness, and the other a feeling of welcome solitude. They show how the same setting can have totally different impacts on a person depending on their mindset at the time. These poems are both made up of simple stanzas and diction, but they are not simple poems. In the poem Desert Places the speaker is a man who is traveling through the countryside on a beautiful winter evening. He is completely surrounded with feelings of loneliness. The speaker views a snow-covered field as a desert place. A blanker whiteness of benighted snow/ With no expression, nothing to express. Whiteness and blankness are two key ideas in this poem. The white symbolizes open and empty spaces. The snow is a white blanket that covers up everything living. The blankness symbolizes the emptiness that the speaker feels. To him there is nothing else around except for the unfeeling snow and his lonely thoughts. The speaker in this poem is jealous of the woods. The woods around it have it it is theirs. The woods symbolize people and society. They have something that belongs to them, something to feel a part of. The woods have its place in nature and it is also a part of a bigger picture. The speaker is so alone inside that he feels that he is not a part of anything. Nature has a way of bringing all of her parts together to act as one. Even the animals are a part of this wintry scene. All animals are smothered in their lairs, / I am too absent spirited to count. The snow throws its blanket of whiteness over everything, and to him it is a feeling of numbness. The loneliness includes me unawares. The speaker has lost his enthusiasm for life. He cannot express his feelings easily because of this feeling of numbness. The speaker is also in denial about feeling alone. He is at a stage where he just does not care about too much and he feels a bit paranoid. They cannot scare me with their empty space. He is saying who cares how I feel; I do not need anyone else. I have in me so much nearer home/ To scare myself with my own desert places. The speaker was starting to realize that he had shut himself off to the world. He recognized that this winter place was like his life. He had let depression and loneliness creep into his life and totally take over like the snow had crept up on the plain and silently covered it. If he continues to let these feelings run his life, eventually everything would be snuffed out much like the snow does to nature. Stopping by Woods on a Snowy Evening is a much happier and more upbeat poem than Desert Places. This poem is about stopping to enjoy life or as the clich goes, stopping to smell the roses. But I have promises to keep, / and miles to go before I sleep. The speaker in this poem was a very busy man who always had obligations to fulfill and places to go. A feeling of regret is present. The man would like to stay and enjoy welcome solitude. The woods are lovely, dark and deep. This poem expresses the joy of nature. The speaker seems concerned about what the rest of society would think about him just stopping in the middle of nowhere for no apparent reason. His horse represents society. My little horse must think it queer/ To stop without a farmhouse near. He admits that just stopping does seen odd. He is also somewhat concerned about the man who owns the woods. The man almost feels guilty for looking so lovingly at this other mans woods. He will not see me stopping here/ To watch his woods fill up

Newark International Airport Essay Example | Topics and Well Written Essays - 2500 words

Newark International Airport - Essay Example By this time the United States Government had spent $15.1 million apart from $8.2 million spent by the City of Newark on construction and development. It was only in 1948 that the Port Authority took up the responsibility for operation and development. In the 1950’s, the Port Authority added an instrument runway, a terminal building, a control tower and an air cargo center. In 1973 the Central Terminal Area was constructed and opened. Runway 4L-22R was opened in 1970 but was rebuilt and restarted in 1973. The Port Authority Administration Building, the Central Heating and Refrigeration Plant, a Fuel Storage Tank Farm, taxiways and roadways also started operations in 1970s. A two-building maintenance complex housing airport construction and repair equipment, a large runway snow removal and de-icing, and a command center for snow emergencies was constructed in 1989. The first administrative building of Newark Airport was built in 1935, now known as Building 51 (HPO, 2004). When this building was completed, it was the most important airport in the world. In 2000, the Historic Preservation Office, attempted to save this historic building. In late 1990s, when the Port Authority had requested approval from the Federal Aviation Administration (FAA) to lengthen the main runway at Newark Airport, they ensured that the old Airport Administration Building, which sits at the north end of the main runway would be protected for the future. Unfortunately, with the runway expanded, Building 51 could no more be used for Public service with flights landing and taking off right in front of the office. Because of its historic importance study was conducted to see if this building could be relocated elsewhere within Newark airport. With the support and help of many individuals agencies, this historic building could be relocated and rehabilitated and is now open t o visitors at Newark Airport. The last decade brought forth great expansions at the airport as air

Negative affects of piracy on the music industry Essay

Negative affects of piracy on the music industry - Essay Example Before the invention of blank tape, it was not yet possible to duplicate a record. If you want to hear music, then you either have to buy it or play it in a friend’s house. From the vinyl to cassette tape, it was really hard to copy music content. Then, initially, compact discs – the precursor of modern music formats - were hard to copy as well - when it surfaced in Europe and Japan in 1982 and in the United States. However, over the past twenty years, technology has advanced so drastically. Three technologies have emerged that have driven piracy to the top of the music industry’s agenda today: the writable CDs, the mp3 compression algorithms and the P2P protocols. The combined power of these technologies led to the proliferation of file-sharing applications that enable people to download music and other multimedia content from the Internet for free. Since the year 2000, studies have shown that music piracy has significant negative effects in the music industry.

The general conditions of the body or mind Essay Example for Free

The general conditions of the body or mind Essay If my interviewer doesnt the right amount, she is certainly to be in danger. She is already very skinny, and eats lots of junk food. She says she doesnt like to eat lots of healthy stuffs because since she was little, she has been brought up to eating junk food and the though of eating healthy all the time, puts her off, and she says she cant stand vegetables. Its very hard for her. She needs to eat all of the above in order to say healthy and from not getting disease or cancers. There are lots of sort of infections, viruses, diseases or illness that can happen if one doesnt eat the type of food in their diet. Environment: Everyone needs a good environment. If she doesnt have a nice and clean environment, then she also has to have an unhealthy way of living and life. In order to have a happy, healthy and well being environment we need to have clean water and air, proper waste disposal facilities (toilets) and good housing qualities. Other environment factors that affect well being are, where we live, how much money we get (if we have a job) and the sort of job that we have. If we dont have a proper disposal facility, it will lead to all sort of uncomfortable infections and diseases. Housing: Everyone needs to have a good house in order to stay clean, healthy etc. If the house is overcrowded, damp, no central heating or poor disposal facilities, we do not have a good house. In may cause illness to people. Cold and damped houses can give people asthma, bronchitis, and arthritis. If the house is overcrowded it can lead to infections like tuberculosis and dysentery. It also depends on where a person lives, if they live in the countryside or somewhere isolated, they can be depressed often and have a bad self-esteem. Education: This is very important. It affects a persons outlook on life, they way they treat people (their manners), how they look, their health and well-being. With a good education, it can get you a good job or occupation. Good education has a positive impact on the life chances and the health outcomes to an individual. If people want a good job, good house, good everything, they have to work for it, by getting good grades and achieving to their highest standard. Employment: Having a good job and sort of job you have is very important. It needs to be a job you like doing. If it isnt then it wont be very fun and you might depress. If you have a good education, you will have a good job. An employed person uses the skills, knowledge and expertise which the person has already gained and has the opportunity to acquire new skills. It also gives you the opportunity to explore the outer world and get new friends, or learning new things in life. Work gives you confidence and self-esteem. People respect you and your ideas. And the better the job the better the money to keep you or the family happy and healthy. Some people need a job desperately, in order to buy food or to stay alive. Rest and Sleep: When you are young, you need a lot of sleep and rest. This gives the heart and body time to relax and not to be stressed out and working. If you deprive sleep, you lose lots of energy and have a quick and high temper, like you want everything to go your way. Mistakes can occur a lot, because when you are tired, you cant concentrate. You also loose attention to your surrounding and you seem to be dreaming a la la land. You also seem to have a few minutes ever time you see that the coast is clear, then wake up, feeling more tired. You also feel confused, because you are paying more attention to seeing yourself in a nice and warm bed and listen9ing to what other people say. And you have difficulty seeing and hearing. This is important, especially for a teenager because we need the sleep after a long time in school, and after being stressed out and tired. It helps us concentrate more in class. Friends: We all have and need friends. They are their top support and love us back. They are there to listen and help during problems. Choosing your friends can be very hard, when you move into a new area, you talk to who ever talks to you. Having bad friends, can influence you into the bad things in life and they some how always encourage you into doing the bad things, like not studying for an important test, stealing or having attitude problems. It also depend in the environment, if you live in a bad environment there is likely to be rough and troubling making groups.

The Problem of Global Warming Essay -- Greenhouse Effect Climate Chan

The Problem of Global Warming Imagine you are placed into the future. The year is 2100. You begin to live in this new world. You hear about huge storms over much of the USA that cause severe damage and flooding. San Francisco, New York City, New Orleans, Seattle, and Miami all experience major flooding from the ocean level having risen so high. Thousands and thousands of people perish each summer across the USA alone—hundreds die in Chicago as the temperature soars to 100 for 2 weeks straight. No, this isn’t total fantasy. These events all could occur. All of them could result from one thing—global warming. Global warming is a huge problem with many consequences that people don’t realize could occur. If we work together, though, we can stop them from happening. In this essay, I’ll tell you about global warming, its causes, and what we can do to help stop it. First, global warming is fairly new--the talk of this problem is fairly recent, and so is the problem itself. For example, according to â€Å"Why Files,† from the University of Wisconsin website, â€Å"the global warming debate first heated up in the late 1980’s.† When you look at the attached graph, from â€Å"Meteorology Today,† you can see that temperatures have simply soared in the past century, especially in the last 25-30 years. Due to dramatic increasing, global warming has become a very large problem as of the last few years. Temperatures have really increased. According to NOAA, the second warmest year on record in the world was 2001. In a â€Å"Why Files† report on global warming, it is said that â€Å"the 10 warmest years in the 150-year history of recorded temperatures have all occurred since 1983.† This means that 10 of the last 21 years have been in the list of the top 10 warmest years since record keeping began. So as you can see, the world is heating up. In the Europe heat wave of 2003, London reaches 100 degrees Fahrenheit for the first time EVER, and in France alone, nearly 30,000 people died. And recently in Antarctica, grass was actually seen! According to the Green Car Congress website, â€Å"scientists have reported that broad areas of grass are now forming turf where there were once ice-sheets and glaciers.† Never before was grass seen there Now, where are all of these s izzling temperatures coming from? In other words, why is the world warming? Global warming is occurring because of the EXPANS... ...son can’t stop global warming—we need to group together as a whole to try to help prevent it. The more people informed about global warming, the better. Now you understand about global warming, tis causes, its harmful effects, and what we can do to help stop it. I encourage you to join me by informing people about global warming, and trying to help put a stop to it. Works Cited â€Å"Heating Season.† The Why Files. Ahrens, Donald C. â€Å"Climate Change.† Meteorology Today. Keith Dodson. Pacific Grove. Brooks/Cole, 2003. 520-544 â€Å"Grass Growing†¦In Antarctica.† Green Car Congress. â€Å"Global Warming-Frequently Asked Questions.† National Oceanic and Atmospheric Administration. â€Å"Tropical Deforestation-Deforestation and the Global Carbon Cycle.† NASA Earth Observatory. â€Å"Global Warming-Emissions-Individual.† U.S. Environmental Protection Agency. â€Å"Causes of Global Warming.† EcoBridge. â€Å"Global Warming-Potential Effects of Global Warming.† NASA Earth Observatory. â€Å"Consequences of Global Warming.† Natural Resources Defense Council. â€Å"Heat Waves and Climate Change: Fact Sheet.† Harvard Medicine. â€Å"How to Fight Global Warming.† Natural Resources Defense Council.

Marriott Corporation: The Cost of Capital

In April 1988, Dan Cohrs, vice president of project finance at the Marriott Corporation, was preparing his annual recommendations for the hurdle rates at each of the firm's three divisions. Investment projects at Marriott were selected by discounting the appropriate cash flows by the appropriate hurdle rate for each division. In 1987, Marriott's sales grew by 24% and its return on equity stood at 22%. Sales and earnings per share had doubled over the previous four years, and the operating strategy was aimed at continuing this trend. Marriott's 1987 annual report stated: We intend to remain a premier growth company. This means aggressively developing appropriate opportunities within our chosen lines of business—lodging, contract services, and related businesses. In each of these areas our goal is to be the preferred employer, the preferred provider, and the most profitable company. Mr. Cohrs recognized that the divisional hurdle rates at Marriott would have a significant effect on the firm's financial and operating strategies. As a rule of thumb, increasing the hurdle rate by 1% (for example, from 12% to 12. 12%), decreases the present value of project inflows by 1%. Because costs remained roughly fixed, these changes in the value of inflows translated into changes in the net present value of projects . Figure A shows the substantial effect of hurdle rates on the anticipated net present value of projects. If hurdle rates were to increase, Marriott's growth would be reduced as once profitable projects no longer met the hurdle rates. Alternatively, if hurdle rates decreased, Marriott's growth would accelerate. Marriott also considered using the hurdle rates to determine incentive compensation. Annual incentive compensation constituted a significant portion of total compensation, ranging from 30% to 50% of base pay. Criteria for bonus awards depended on specific job responsibilities but often included the earnings level, the ability of managers to meet budgets, and overall corporate performance. There was some interest, however, in basing the incentive compensation, in part, on a comparison of the divisional return on net assets and the market-based divisional hurdle rate. The compensation plan would then reflect hurdle rates, making managers more sensitive to Marriott's financial strategy and capital market conditions. Professor Richard Ruback prepared this case as the basis for class discussion rather than to illustrate either effective or ineffective handling of an administrative situation. Copyright  © 1998 by the President and Fellows of Harvard College. To order copies or request permission to reproduce materials, call 1-800-545-7685, write Harvard Business School Publishing, Boston, MA 02163, or go to http://www. hbsp. harvard. edu. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permi ssion of Harvard Business School. Marriott Corporation: the Cost of Capital 1. How does Marriott use its estimate of its cost of capital? Does this make sense? Marriott has defined a clear financial strategy containing four elements. To determine the cost of capital, which also acted as hurdle rate for investment decision, cost of capital estimates were generated from each of the three business divisions; lodging, contract services and restaurants. Each division estimates its cost of capital based on: Debt Capacity Cost of Debt Cost of EquityAll of the above are calculated individually for each of the three divisions, and this is a critical aspect due to the varying cost of debt in particular for each division. Marriott then calculate company wide cost of capital using weighted average of the individual divisions cost of capital. This is a very clever approach, particularly as we see that for example the lodging unit, has a 74% debt percentage in the capital structure, and the fact that Marriott use long term cost of debt for lodging (which in this case is c lose to Government debt 110 bps margin) demonstrates the low risk investors perceive this side of the business to haveWe believe this approach is sound due to the difference in the cost of capital between the divisions being a function of the risk associated with the investments considered so this approach incorporates the fact that risk between the divisions varies. Given this we believe the method chosen by Marriott is compliant with the â€Å"Marriott Financial Strategy† as the capital costing approach is due diligent and reflect the single entity risk (bottom-up) rather than an estimated top-down.We believe this approach enables Marriott to optimize the financial performance and in turn increase the shareholder value. 2. If Marriott used a single corporate hurdle rate for evaluating investment opportunities in each of its lines of business, what would happen to the company over time? Marriott's three divisions are very different in terms of business area, business risk an d capital structure (debt capacity). The result is varying capital costs between the divisions. For instance Lodging has a significant lower cost of capital (WACC) than the Restaurant and even than the company as a whole.Using a single company-wide hurdle rate would create an uneven process in assessing investment opportunities across the divisions. In practical terms the accept/reject decision would not reflect the inherent business risk of the division, which could lead to investments being accepted, while they should have been rejected. Given the WACC calculations in the following questions, we see there is a significant difference in the cost of capital between the different divisions varying from 8. 85% (Lodging) to 12. 11% (Restaurants)Therefore, if we were to use one single corporate hurdle rate, we would assume in this instance that we would use the Marriott WACC of 10. 01%, then we may reject an investment in ‘Lodging’ which would yield a positive NPV and vice versa, we may accept an investment opportunities in ‘Restaurants’ which potentially would yield a negative NPV. Going back to the brief, we know that typically an increase in hurdle rate of 1% will decrease present value of project inflows by 1%. If we were to then use one hurdle rate (10. 1%) and take the lodging hurdle rate (8. 85%) this would be an increase in WACC of 13. 10% (lodging) and would therefore decrease PV of project inflows by the same 13. 10% – so the effect of using a single rate is compounded, firstly it impacts the decision, and the PV due to the discount impact. Over time a single hurdle rate (if consistently higher than the existing approach) would significantly hurt the performance of company as the approach could lead Marriott to reject (or accept) investment opportunities which should have been accepted (or rejected).This would destroy shareholder value. 3. What is Marriott’s Weighted Average Cost of Capital? What types of investmen ts would you value using Marriott’s WACC? To calculate Marriott’s WACC, we need to assess three factors 1) Capital structure, 2) Cost of debt, 3) Cost of Equity. As the corporate tax rate is given we will not manually calculate it. If required we would have used the financial statement in appendix 1 to do so.After having calculated the three factors mentioned above we employ the following formula to find WACC: WACC = (1-t)*rD*(D/V) + rE*(E/V) where Re = After tax cost of equity, Rd = pre tax cost of debt, E = market value of the firm's equity, D = market value of the firm's debt, V = E + D = firm value, E/V = percentage of financing that is equity, D/V = percentage of financing that is debt and t = corporate tax rate. 1) Capital Structure We find the capital structure in Table A on page 4 in the case. As the â€Å"debt percentage in capital† – D/V in the WACC formula – is given we find the equity percentage in capital (E/V) as: E/V= 1 – D/V. Using this we see Marriott is funded using 60% debt and 40% equity. We do realize the data in Table A is the target-leverage ratio, but we are comfortable using the target capital structure for this purpose instead of the current capital structure. 2) Cost of Debt The cost of debt is mathematically defined as Cost of Debt = (1-t) rD, where rD is the rate for pretax cost of debt and (1-t) represents the tax shield via the corporate tax rate. In the following rD is calculated, while the tax shield is not included until the final WACC calculation.Marriott’s debt was divided into two different segments; floating rate and fixed rate. 40% of Marriott’s debt was floating rate where the interest rate payment changes with changes in the market interest rates, while 60% was fixed rate. The case gives a â€Å"debt rate premium above government†, but information about term structure or other features of the floating debt are limited. We believe the correct way to estimate t he cost of debt is to estimate the cost per debt type/segment and then in a second step weigh the costs using the debt structure.To do this we estimate that the floating debt rate is best estimated using the 1yr government rate in Table B – for the reason that we do not have any shorter term data or average, and this most closely would represent floating. While for the fixed debt portion we have selected the 10yr government rate. Again, this is due to a mix of long term and shorter term fixed debit. This is the best assumption we can take using the data provided. Given the above the cost of debt of Marriott is: [Average((1yr Gov. ate)*(Floating debt fraction) + (10yr Gov. rate)*(Fixed Debt Fraction)) + â€Å"Debt Rate Premium Above Government†] [Average((6. 90%)(40%) + (8. 72%)(60%)) +1. 30%] = 9. 29% 3) Cost of Equity Cost of Equity is found using the Capital Asset Pricing Model (CAPM) or rE = RF+ ? i(E[RM] – RF), Where rF is the risk free rate we estimated ear lier, ? is the systematic risk or the overall risk factor and (E[RM] – RF) is the ‘price of risk’ or ‘market risk premium’ (MRP) investors expect over and above what the risk free securities yield.To be consistent in selecting expected market return and the risk free rate, we have selected to use the same time period for both estimates. Using Exhibit 4 and 5 we find the appropriate data. We take the longest time period available as we believe this is the conservative method as outliers in the data is crowded out due to the law of large numbers, which increases the empirical probability of accuracy. Given this we have selected 1926-87 average returns of the long-term U. S government bond as the risk free rate (RF) thus RF is 4. 58%. (Exhibit 4).The MRP is estimated using Exhibit 5, where we use the S excess return over the long term U. S government bond over the same time period as the risk premium (E[RM] – RF) = MRP = 7. 43%. S is chosen as th e â€Å"market return† as the stock index represents a wide and diversified range of equity across different sectors and industries. Given this we believe it is fair to use the S excess return over the risk free rate as the market risk premium (MRP) To find the ? we need to adjust the equity ? given in Exhibit 3 as it reflects the current capital structure and not the target structure.To re-calculate in order for the ? to reflect the Marriott target capital structure, we first calculate the unleveraged ? and then re-leverage it with the target capital structure. The unleveraged ? is calculated using: Unlevered ? = Equity ? / (1 + (1 – t) x (Debt/Equity)). As all data is given in Exhibit 3, we find unleveraged ? = 0. 7610. (See detailed calculations in excel sheet under tab â€Å"Exhibit 3†). To re-leverage the data we re-write the formula: Equity ? = Unlevered ? * (1 + (1 – Tc) x (Debt/Equity)) = 0. 7610 *(1+(1-34%)*(60%/(1-60%)) = 1. 514.We now have all the data need to calculate the cost of equity: rE = RF + ? (E[RM] – RF ) 4. 58%+ 1. 514(7. 43) =15. 83%. Finally we find WACC by employing the formula: WACC = E/V ? rE + D/V ? rD ? (1 – t) 40%*15. 83% + 60% *(9. 29%(1-34%)) = 10. 01%. Please find all detailed calculations in the attracted excel sheet under tab â€Å"Table A†. We would value an investment of similar risk, which would offer us a return higher than the WACC of 10. 01%, as anything over and above this in terms of return would be adding value as the present value of the future cash flows in that case would be positive.In otherwords, we could use WACC as our discount rate and hurdle rate to calculate NPV of potential investment projects of physical asset, where it is expected the financing will be similar to the financing of the company conducting the investment. 4. What is the cost of capital for the lodging and restaurant divisions? The WACC calculation methodology is the same for the divisions as t he calculations under question 3. However the inputs are changed to mirror the attributes and characteristics of the divisions.Please also see excel spreadsheet included within this submission for breakdown of the calculations. Lodging: Cost of debt: For the calculations of the fixed rate debt, we are using the 30 year government bond rate instead of the 10 year. This is a reflection of the comments in the case about the longer durability of the asset and longer financing. For the floating leg of the debt, we continue to use the 1 year government bond rate. rD = Average((1year US (Table B)*Fraction of Floating Debt + 30 Year US*Fraction of Fixed Debt) + 1. 10% rD = Average((6. 90%*50% + 8. 5%*50%) + 1. 10% = 9. 03% Cost of equity: To be consistent we opt for the long-term securities and long-dated data just as we did when calculation the cost of equity in question 3. As for the ? we use the peer group as presented in Exhibit 3. Hence to find the unleveraged beta, we take the average of the equity ? s of the peer group the average debt/equity ratio. After having calculated the unleveraged ? , we re-leverage using the target capital structure of the lodging division. We realize the limitations of using comparable companies to estimate the ? nd understand the criticality of defining the right peer group of comparable companies. We could most likely have increased the accuracy of our calculations by being more due diligent in the selection to find companies that were a closer match to the Lodging (and restaurant) division. However, for the purpose of the calculations in this case, we use the peer group defined in the exhibit. Restaurants: Cost of debt: For the calculations of the fixed rate debt the 10 year government bond is used. rD = Average((1year US (Table B)*Fraction of Floating Debt + 10 Year US*Fraction of Fixed Debt) + 1. 10% D = Average((6. 90%*25% + 8. 72%*75%) + 1. 10% = 10. 07% Cost of equity: To reflect the shorter nature of the assets in the restaur ant business division, we use short-term securities to estimate the risk free rate and the risk premium. We use the same method for estimating ? as we did for the Lodging calculations. Using the data described above, we find WACCLodging to be 8. 85% and WACCRestaurants to be 12. 11%. These findings support the notion that incorporating debt will lower the cost of capital due to the tax shield. Lodging has a debt/equity ratio of 74/26 against the 42/58 in the restaurant division. See detailed calculations in the attached excel sheet) We would also like to point out that of the restaurants given in the brief, many of these would in essence not necessarily be our peer group per se and we would be more selective over the restaurants we would selected to more closely mirror Marriott’s restaurants. With our aim to ensure we have the closest peer group possible for comparison. 5. What is the cost of capital for Marriott’s contract services division? How can you estimate its e quity cost without publicly traded comparable companies?We use the same framework as for the WACC calculations under Q3 and Q4. However, as we do not have a defined ? for the Contract Service division or an adequate peer group, we will estimate the ? using the existing data for Marriott and the two divisions. We know from the literature that a (holding) company’s ? is the weighted ? ’s of the individual business divisions. We use the revenue as the catalyst for the weighing of the ?. For the purpose of the calculations we use the unleveraged ? ’s. Mathematical this can be expressed as: ?(Marriott) = Revenue Weight (Lodging)* ? Lodging) + Revenue Weight (Contract Division)* ? (Contract Division) + Revenue Weight (Restaurants)*? (Restaurants). To find the ? (Contract Division) we re-write the formula to: ?(Contract Division) = [? (Marriott) – Revenue Weight (Lodging)* ? (Lodging) – Revenue Weight (Restaurants)*? (Restaurants)]/ Revenue Weight (Contra ct Division) ?(Contract Division) = [0. 7610 – 40. 99%*0. 5841 – 13. 49%*1. 0014]/45. 52% = 0. 8490 Adjusting for the target capital structure we find ? (Contract Division) equals 1. 223 Using this data, we find WACC for the Contract Service division to be 10. 82%.

Government Driven Economics And Its Effect On National...

Authoritarianism can coexist with liberal markets, and is in fact the best way to ensure the well being of the people of a country. In Iran, state driven economics have had a negative effect on our national economy, and a transition to a more market based economy is essential. This is evident from both culturalist and structuralist viewpoints. Culturalist theory assumes that the culture of a society holds the most power, and the society’s structure is critical. Ideology and ideas are most influential in persuading members to act. In Iran, we have a culture of deference to our leaders which mainly stems from the preeminence of Shia’ Islam. Shi’ism holds clerics in high esteem, as they are thought to be substitutes for the Twelfth Imam and are therefore capable of translating God’s word for his followers. Although this might appear to indicate that Iran is more culturally suited for a state led economy, the opposite is true. The leader of the Iranian Revolut ion, Ayatollah Khomeini, as well as the vast majority of clerics in Iran, espoused privatization and the importance of property rights. An adherence to their teachings, therefore, would require Iran to move away from state centered economics and embrace a liberal market. This would also support the ideals of the Islamic Revolution, which include equality, justice, and support for the oppressed. Liberal economics are the best way to ensure economic stability for all citizens of Iran, and so would fulfill this ideology.Show MoreRelatedTariff and Non-Tariff Barriers882 Words   |  4 PagesInternational Trade is the branch of economics concerned with the exchange of goods and services with foreign countries. In the context of globalization, International trade has become an even more important topic now that so many countries have begun to move from state-run to market-driven economies. Tariff and non-tariff barriers play a large part in this process. 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