Saturday, May 23, 2020

Research On The Banking System In Thailand Finance Essay - Free Essay Example

Sample details Pages: 7 Words: 1991 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Thailand was regarded as Asias Tiger in 1990s, where the economic situation is thriving. Thailand had a strong growth in Gross Domestic Capital of 11.5% from year 1987-1996. However, Thailand was seriously affected by the Asian Financial turmoil. Don’t waste time! Our writers will create an original "Research On The Banking System In Thailand Finance Essay" essay for you Create order It is suggested that the great fall during Asian Financial turmoil is mainly caused by the poor monitoring and control over of various financial institutions there, mainly the commercial banks. Also, the recent political instability has driven lots of investment away from Thailand. Therefore, in the following parts, I will investigate the financial institutions, with the focus of the Banking sector. In this essay, we are going to look into the history of the banking sector in Thailand and some of the features of the banking institutions there which hopes to have an overview of the countrys banking sector. The History of the Banking System in Thailand The Thailand banking sector once had a close relationship with the Hong Kong and Shanghai Banking Corporation (HSBC). In 1865, the HSBC sent its staff into the capital of Thailand, Bangkok. Later in 1888, a new branch was set up in Thailand by HSBC. At that time, HSBC was the pioneer bank to have branch there to facilitate the capital movement in Thailand. Subsequently, the Chartered Bank followed in 1894, and in 1897 Banque de I Indochine (a bank from France) also built branches in Thailand with an aim to facilitate international trading with Thailand (Blanchard, 1958). This was the time the foreign banks enter the Thailand market. The officially first Thai bank, which is named as the Siam Commercial Bank, was actually formed in year 1906 by Chinese. After that, more and more local banks were being established which eventually captured back the market share from the foreign banks. In order to support and protect the local banks, Thailand had adopted a policy which restricts foreign bank to own only one branch in Thailand after the Second World War. This policy limits the growth of the foreign banks which in return provides opportunity for local bank to grow. Since the rapid economic growth in1960s brings an opportunity of facilitating economic investment and funding to support the improvement of banking system. A rapid development of banks in Thailand is resulted, and in the peak period, there are around 3,000 banks in Thailand. Introduction of the Banking Institutions in Thailand The banking system in Thailand can be divided into the following: Bank of Thailand(BOT), the central bank 12 domestic commercial banks and 18 commercial banks from other countries 27 international banking facilities (IBF) 5 specialized banks, including the Small and Medium Enterprise Development Bank of Thailand, the Government Saving Bank (GSB), the Bank of Agriculture and Agricultural Cooperatives (BAAC), the Government Housing Bank (GSB) and the Export-Import Bank of Thailand (EXIM Bank) Most of the IBFs in Thailand are controlled by the commercial banks in Thailand too. Among the twenty-seven IBF licenses, 8 is under the control of local commercial banks while 15 are under the control of foreign commercial banks. In the following parts, we will now explore the banking financial institutions respectively. The Central Bank in Thailand An organization which performs similar duty of the central bank was formed in 1939, named the Thai National Banking Bureau which is under a department of the Ministry of Finance in Thailand. Later, the Bureau was converted into a central bank (the Bank of Thailand, BOT), after the Bank of Thailand Act in 1942 when Thailand learnt from the successful experience of other countries powerful central banking system. The responsibilities of the Bank of Thailand include the following: To issue currencies that are in circulation in Thailand and other security documents in Thailand. The central bank has a monopoly banknotes-issuing as the sole-issuer. To Maintian monetary stability and formulate monetary policies by the following (BOT, 2007): mobilize the deposits, determine the interest rate for loans to financial institutions, trading foreign exchange and exchanging for the future cash flow, borrowing foreign exchange in order to maintain the monetary stability, borrowing money in order to implement the monetary policy, trading securities as necessary and exchanging for the future cash flow in order to control the money supply in the countrys financial system, borrowing or lending the securities with or without returns. Provide banking services to the government and act as the recorder of bonds issued by the government Provide banking services for the financial institutions, importantly acting as the last resort for financial instit ute Supervise and monitor financial institute by requesting explanation of report of the banks operation. Build or back the payment system control, monitors, and check the financial situation and porformance, and risk management system of the financial institutions in order to promote financial institutions stability. (BOT, 2008) handle and control Thailands foreign exchange rate and manage assets in the currency reserve according to the Currency Act. (BOT, 2008) express Thailands views and fight for Thailands interest in the international platforms including the IMF and Asian Development Bank The central bank of Thailand has an irreplaceable role in financial institutions supervision and monitoring the economics growth with useful monetary policies. Both on-site and off-site methods are used for monitoring. On-site methods refer to sudden tangible inspections performed at least once a year on the commercial banks. Off-site methods refer to investigating the wee kly, monthly, or annually reports collect from the existing financial institutions on various kinds of operations. (Supervision Group Policy, Bank of Thailand, 2002). It is believed that the tight supervision help to achieve a controlled level of GDP growth in a safety range of 5% which is close to the international standard. This helps to build confidence that Thailand will not make the same mistakes they did before the Asian Financial Crisis (Poor surveillance in banking sectors). Thailand Commercial Banks review The dominating group in the Banking sector is the commercial banks. There are a total of14 Thai Banks and 16 Foreign Banks taking control of 70% of the local household savings and credits in the whole banking system which is approximately 2,800 million dollars. 79 percent of the money was in the form of bill, loans, and overdrafts. Commercial banks lending are comprised 25% on manufacturing, 20%in wholesale and retail trade and 11% in the form of working capital financing, and imports and exports respectively. Currently, the dominating commercial banks are the following: The Bangkok Bank, The Thai Farmers Bank, The Krunk Thai Bank The Siam Commercial Bank. In the 1990s, the above four banks own almost 70% of the assets in the banking system and which is equivalent to 75% of total assets in Thai banking system in private banks. The functions of the commercial banks in Thailand includes the following Offers time deposits, saving deposits and Current deposits. issues certificate of deposit, provides mortgage, provides loans to foreigners and provides loans to meet domestic demand of loan, trades financial securities in the foreign exchange markets The sources of funding of the Thailand banking system are mainly from deposits, which is different from Hong Kong relying heavily on inter-bank borrowing. Control on Commercial Bank After the passing of Commercial Banking Act, Commercial banks have to follow strict regulations imposed by the local government. They also are required to get permission from the Ministry of Finance (MOF). Regulations for the maintenance of capital funds and reserves are created because of the Act. Since then, the commercial banks are restricted to maintain destined amount and fixed assets type in the country. (BOT 2008) it is regulated that the bank must transfer at least 15% of earnings into reserves. Dividends are limited to 15% of reserves unless the amount of reserves is greater than 60% of their paid-in capital. The banks must maintain a capital adequacy of approximately 10% to the two tiered capital standard regulated by the Basle Committee Capital Accord in 1988. After the Asian Financial turmoil, the regulated reform of banking sector had attracted many foreign banks and capitals entering into Thailand. Foreign banks are found out to be more competitive when compared to local banks with better management. It is believed that the reform is beneficial to the banking sector. The comparative advantages of the foreign banking were brought into Thailand by the foreign investors, and it also flows with capitals from other countries. The competitive environment can help customers to have a better service in the future. Overview of the Other Specialized Banks in Thailand There are 5 specialized banks and they are: Bank for Agriculture and Agricultural Cooperatives It is formed at 1966. The aim is to provide credit for farmers who find it difficult to make loan from commercial banks or the farmers cannot afford to pay the high interest in financing. The bank promotes agricultural industry by offering financial assistance to the farmers. Nowadays, it is regarded as a diversified rural bank which provides a large variety of financial services. The Small and Medium Enterprise Development Bank of Thailand It is established to assist the growth of small and medium enterprises by giving them financial support such as loans, venture capital or other consultancy service. The Government Saving Bank GSB was established in 1913. The GSBs original use was to gather and provide funds to support the large amount of government deficits. Nowadays, GSB focus more on the private sector. The Government Housing Bank GHB was formed in 1953, which specializes in providing mortgage lending to the targeted low or middle income group in order to provide funding for them to but houses at a lower interest. It also provides long-term mortgage loans for individual borrowers and construction loans for property developers to assist their residential building development projects. Export-Import Bank of Thailand (EXIM Bank) Established in 1993, provides financial aid for international trading and foreign investment which aims to help to boost Thailand exports and attract investors. If offers direct loans and guarantees loans, insurance on exports and consultancy service to Thai exporters and investors. The predicted Trend of the Thailand Banking System The Asian Financial Crisis helped to spot the problem of the absence of surveillance and monitoring in Thailand Banking system after 1997. With the new law requirement of handling in operational reports about transaction to the central Bank and the regulating body, the malpractice in banking sector is spotted and reforms are being made to prevent the problem. The fierce competition in banking sector brought from the entry of foreign bank in the banking sector in Thailand heat up the operational changes in terms of providing a wider source of capital, improving the technological level, updating management on operations with a focus of marketing strategies. In order to be customer friendly, many banks has increased the coverage and scale of Automatic machine use (ATMS) and build more branches in mass transit and supermarkets, to attract real estate purchases to use the service, flexible mortgage-loan package are provided in lower interest rate. To cope with the competitions, lo cal Thai banks are focusing more on customer relation management and also internal managing system. For example they have formed an e-banking systems and installing more ATM machines. We can foresee that with the improved management focusing customer perspectives, more customers are willing to use the banking system in Thailand. With the external monitoring system improvement and internal operation improvement in the banking sector, we can see the opportunities in Thailand banking sector and the potential of growth is high. Conclusion After looking into the different banking sector in Thailand, we can conclude that the Thailand banking system is developing in a moderate pace when compared to other banking systems in the world. As mentioned before, we can conclude that Thailand government has done quite a lot in improving the Banking sectors there. However, as the political situation In Thailand is very unstable, we cannot foresee an opportunity that the banking sector will grow as the instability will drives away foreign investments and capital and at the same time, affecting the currency and economics activities such as real estates performance, which is heavily-linked with the banking industry. Therefore, if the government needs to improve the banking sector, it must keep an eye on the political and social stability.

Monday, May 18, 2020

Both Hobbes And Locke Can Be Considered The “Founding...

Both Hobbes and Locke can be considered the â€Å"Founding Fathers† of liberal political philosophy. Both theorists give their own accounts of human nature as well as how and what their concept of a government should look like. Hobbes and Locke also agree on most aspects of each other’s theories but also have contrasting opinions for their own notions. Hobbes’s conception of the best fitting government in which humans would be able to live freely and happily, would be that which is governed by an all - powerful sovereign. Locke rejects Hobbes’s political solution and claims that the best political regime would be a creation of a limited form of government, which can be seen today in the United States. Hobbes and Locke give their own†¦show more content†¦There will always be someone with a unique quality that he or she specializes in. For an example, there may be someone who is athletically fit compares to others, or someone that is more beautiful or smarter than the rest of the general population. These natural traits do not produce any sort of natural hierarchy. What sets the basis of a destabilized environment is when the individual starts believing himself to be more knowledgeable than the rest of the population. What eventually follows suit is that all men start to believe they are wiser over one another. The events in which to catastrophe, comes from the quest for personal desires. If our desires are similar to those of Almansoori 3 our neighbor’s and the object of desire is scarce, there will conflict. This conflict will surely lead to the threat of our self – preservation. If the opponent is triumphant and manages to kill or subjugate another individual in order to acquire his possessions, the same misfortune will most definitely happen to him and the vicious circle will continue to operate. Hobbes gives us his account of the laws of nature. He claims that it is most rational that people create a social contract with an institution in which would provide stability and peace. People that have obliged to the social contract would then continue to acquire and pursue their desires. John Locke’s account for the state of nature contrasts greatly with that of Thomas Hobbes.Show MoreRelatedThomas Hobbes And John Locke Essay2508 Words   |  11 Pages Hobbes, Locke and the meaning of the English civil war Thomas Hobbes and john Locke are considered some of the most influential people in Political thought. Both men lived during and around the time of the English civil war. It can be assumed that this event had a profound effect on each man’s perspective and thinking. Locke and Hobbes do differ on their ideas and beliefs. Hobbes living through the civil war was a supporter of an absolute monarchy. Locke believed in what can be seen as a representativeRead MoreThe Enlightenment And The American Revolution2027 Words   |  9 Pagesespecially that small group of men, most people call The Founding Fathers, may help us understand the driving principles behind both the Revolution, and the subsequent evolution, or creation, of the United States of America. Enlightenment thinkers were innovators. They questioned all theories that were undeniably correct (at the time). Among these philosophers were Charles-Louis Montesquieu, Jean-Jacques Rousseau, Voltaire, Thomas Hobbes, and John Locke. These five philosophers would eventually set downRead MoreThe Declaration Of Independence And Independence3280 Words   |  14 Pageswriters of the Declaration of Independence? Who are our founding fathers and where did they receive these great ideas? I will examine the main writer of the Declaration of Independence Thomas Jefferson and look at the sources he used to begin our country. If Thomas Jefferson was a student at the United States Sergeant Major Academy, and he submitted his Declaration of Independence to turn it in would he pass? Were our founding fathers even great thinkers or were they just taking the advice ofRead MoreThe Social Contract Theory Of Society1900 Words   |  8 PagesThomas Hobbes is known as the father of the Social Contr act . He was the first theorist to introduce this agreement. His theory was actually published in 1651 in Leviathan during the Civil War in Britain . As time went on a theorist arose, a man named John Locke. Along with him having a different perception of the social contract theory compared to Thomas Hobbes, he also had a different view on what the state of nature was. Locke was actually the most influential theorist to the founding fathers, specificallyRead MoreThe Reign of Bush-Obama and their Power Essay1386 Words   |  6 Pages Many argue that the most powerful branch in government is the Executive Branch. The President is considered as the most influential and the most important position in the U.S. government. However, the powers granted to Presidents and the prerogative they have exerted are not listed in the Constitution but instead have been adapted and expanded upon by each President. Although the Constitution does not define the powers of the President, it has defined P residential powers in terms of peace, war,Read MoreComparing Thomas Hobbes And John Locke Essay3502 Words   |  15 PagesComparing Thomas Hobbes and John Locke’s views concerning what life is like in a state of nature we can see that the two-theorist’s share opposite views in making an assumption of what the sate of nature is like. Thomas Hobbes’ views include pessimistic views of nature and how its effects can influence man to selfishly consider what he would need to do to secure his safety while John Locke presents a natural concept that assumes there is a universal thought of good that man is aware of. AttemptingRead MorePolitical Science 1 midterm exam Essay3426 Words   |  14 Pagesstimulate B’s political behavior. It is important because Policy: a plan or course of action, as of a government, political party, or business, intended to influence and determine decisions, actions, and other matters. e.g.: Hamilton: a founding father of the U.S., and he was the first Secretary of the Treasury during 1789 to 1795. e.g.: New Jersey: a state of the east-central U.S. on the Atlantic Ocean. It was admitted as of one of the original Thirteen Colonies in 1787. e.g.: Virginia:Read MoreThe Role of Civil Society in Democracy2277 Words   |  10 Pagesis common to detect an undertone, a rush of voices clamoring for purchase in the debate regarding how the country will be governed. It is my belief that this undertone is the footprint of civil society, a segment of democratic societies that often can be difficult to identify. Much has been said about how difficult civil society is to define. However, as I read the various definitions and came to my own conclusion, it seemed to me that we should look at civil society as the vital foundation on whichRead MoreJohn Locke And The Enlightenment Era2187 Words   |  9 Pagesinnovation for the world we humans live on. Ranging from Thomas Hobbes to Rousseau, the Enlightenment Era has revealed many brilliant minds, including the best philosopher of the said time, John Locke. A philosopher and a physician, John Locke was introducing ideas that to others, seemed ridiculous; however, these ideas and beliefs are the ideas that have led our society to the current state we live in. The influence and principles of John Locke had maintained a solid foundation throughout his years heRead MorePolitical Philosophy and Plato Essay9254 Words   |  38 Pagesis most strongly felt today in the use of the scientific method, in which hypothesis is the first stage. The development and practice of this method is one of Socrates most enduring contributions, and is a key factor in earning his mantle as the father of political philosophy, ethics or moral philosophy, and as a figurehead of all the central themes in Western philosophy. To illustrate the use of the Socratic method; a series of questions are posed to help a person or group to determine their underlying

Tuesday, May 12, 2020

7 derechos de los indocumentados si son arrestados

Si eres uno de los 11 millones de indocumentados que viven en los Estados Unidos, estos son tus derechos en los casos de arresto o si la Policà ­a te para en la calle o te ordena parar mientras manejas un auto. Derechos de los indocumentados La policà ­a no puede entrar en una vivienda sin que tenga orden judicial (warrant). La excepcià ³n es si tiene motivos fundados de que se està ¡ cometiendo un delito (atacando a una persona, traficando con drogas, etc.). Si la policà ­a llama a la puerta, pedir el warrant muy educadamente y sin perder los nervios. Si no la tienen sà ³lo pueden ingresar si se les da permiso, pero se les puede decir que no. Si la policà ­a para a un inmigrante en la calle o cuando està ¡ manejando o en el trabajo recordar que se tiene el derecho a permanecer en silencio. La à ºnica excepcià ³n son algunos estados en los que se està ¡ obligado a decir el nombre. Verifica si resides en uno de esos estados. Si es asà ­, se dice. Si la policà ­a lo para a uno se le puede preguntar si se puede ir (free to leave, en inglà ©s). Si la respuesta es afirmativa (hay que oà ­r el yes), se puede ir, pero sin movimientos bruscos. Nunca perder la calma (aunque por dentro se està © muy nervioso). Si se es arrestado se tiene el derecho a pedir hablar con un abogado. Es muy conveniente cargar siempre con el nombre y el nà ºmero de telà ©fono de un abogado de inmigracià ³n con buena reputacià ³n (o incluso mà ¡s de uno, por si no contesta o no puede hacerse cargo del caso). Si se està ¡ como indocumentado en Estados Unidos no cargar con documentos como el pasaporte u otros como la matrà ­cula consular que puedan probar que se està ¡ ilegalmente en el paà ­s. Si se tienen se guardan en un lugar seguro, pero no se les lleva con uno. La razà ³n de lo anterior es que para que el gobierno pueda deportar a una persona es necesario que pruebe que està ¡ aquà ­ ilegalmente (o que ha hecho algo que amerita la deportacià ³n). Si no se dice nada, si no hay rà ©cords de ninguna clase entonces tiene difà ­cil probar su caso. Lo mà ¡s aconsejable es no hablar ni mostrar documentos y esperar por el abogado. Si se està ¡ ilegalmente en el paà ­s y se tienen personas dependientes como por ejemplo hijos menores, tomar la precaucià ³n de hablar con personas de confianza quià ©n debe hacerse cargo de ellos, cuà ¡les son las instrucciones, cà ³mo acceder al dinero ahorrado para gastos, etc. Es incluso muy conveniente hacer un escrito ante notario. Jamà ¡s firmar algo que no se entiende. Esto puede ser porque està ¡ en inglà ©s y sà ³lo se habla espaà ±ol o porque no se acaba de entender las consecuencias del documento que se le pone delante. Tampoco firmar ningà ºn papel si no se està ¡ de acuerdo con lo que dice, aunque se entienda. En estos casos esperar por el abogado. Una vez que se firma es muy difà ­cil dar marcha atrà ¡s. NO importa lo mucho que insistan. Si no se quiere firmar o no se entiende, no se firma. Muy importante Jamà ¡s dar o enseà ±ar a la Policà ­a un documento falso. Jamà ¡s decir que se es ciudadano americano si es una mentira. Esto es muy grave. Permanece callado, si asà ­ se desea. Pero no mentir, si se habla. Si la policà ­a lo para a uno, permanecer siempre en calma. Jamà ¡s mostrarse violento, muy nervioso, hacer movimientos extraà ±os o salir huyendo, esto à ºltimo es considerado como una violacià ³n migratoria que amerita la deportacià ³n. Saber que existen en las carreteras retenes migratorios internos en algunas partes del paà ­s. A tener en cuenta De los estimados 11 millones de indocumentados presentes en Estados Unidos, aproximadamente menos de cinco podrà ¡n beneficiarse de las medidas anunciadas por el presidente Obama que les protege frente a la deportacià ³n. Si crees que puedes calificar para esas medidas, infà ³rmate con abogados u organizaciones de apoyo a inmigrantes que sean reputados. Evita ser và ­ctima de un fraude migratorio y considera reportar los casos que sepas. No  pagues a personas que ofrecen cosas que simplemente no existen o que cobran por sus gestiones cantidades completamente desorbitadas. Y ten presente que por ahora DAPA y DACA extendido no se està ¡n aplicando. Y si recibes una carta para presentarte en Corte es el momento de buscar abogado. Tener presente que puede haber una demora grande en los casos en las Cortes migratorias. De interà ©s En algunos estados, como por ejemplo Nueva York o California, algunos indocumentados podrà ­an ser considerados PRUCOL. En estos casos, tendrà ­an derecho a algunos beneficios sociales de los que generalmente los indocumentados està ¡n excluidos. Y es que hay importantes diferencias entre estados en lo que afecta a indocumentados: unos son muy estrictos y otros han pasado medidas para hacerles la vida un poco menos difà ­cil. Finalmente, la presidencia de Donald Trump està ¡ teniendo un  gran impacto en las comunidades migrantes. Esos son 9 asuntos migratorios sobre los que ya se ha pronunciado y conviene estar familiarizados. Ademà ¡s, conviene saber cuà ¡les son las 7 nuevas prioridades de deportacià ³n, segà ºn orden ejecutiva de enero de 2017. Este artà ­culo es meramente informativo. No es asesorà ­a legal.

Wednesday, May 6, 2020

A Theory Of Sexism As Ambivalence Toward Women And...

Purpose The purpose of this study was to develop a theory of sexism devised as ambivalence toward women and validate a corresponding measure, the Ambivalent Sexism Inventory (ASI). Past research on sexism has been predominantly conceptualized as hostility toward women. However, from a historical and contemporary perspective, images of women have not been strictly negative. Within the realm of sexism, images of women can also be seen in a â€Å"positive† manner. Therefore, Glick and Fiske (1996) investigated the multidimensionality of sexism by examining both the hostile and benevolent aspects of sexism. Step 1: Item Generation Glick and Fiske (1996) used deductive methods to develop their preliminary scale items. The item generation process was guided by theory definitions of hostile sexism, benevolent sexism, paternalism, gender differentiation, and heterosexuality. Taking these theories into account, Glick and Fiske (1996) labeled the two sets of related sexual beliefs (hostile and benevolent) as ambivalent sexism. Furthermore, their theory of ambivalent sexism shares some similarities with past research on ambivalent racism. The initial item pool consisted of 140 items on a five point likert scale. Hinkin (1998) suggests that the statements of the items should be as simple and short as possible, something that Glick and Fiske (1996) did seem to keep in mind. Double-barreled and leading questions / statements also seemed to be avoided for the most part. Hinkin alsoShow MoreRelatedStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesOverview 23 †¢ Inputs 24 †¢ Processes 25 †¢ Outcomes 25 Summary and Implications for Managers 30 S A L Self-Assessment Library How Much Do I Know About Organizational Behavior? 4 Myth or Science? â€Å"Most Acts of Workplace Bullying Are Men Attacking Women† 12 An Ethical Choice Can You Learn from Failure? 24 glOBalization! Does National Culture Affect Organizational Practices? 30 Point/Counterpoint Lost in Translation? 31 Questions for Review 32 Experiential Exercise Workforce Diversity 32 Ethical Dilemma

Worldcom Scandal Free Essays

WorldCom Scandal Formerly known as WorldCom, now known as MCI, this U. S. -based telecommunications company was at one time the second-largest long distance phone company in the U. We will write a custom essay sample on Worldcom Scandal or any similar topic only for you Order Now S. Today, it is perhaps best known  for a massive accounting scandal that led to the company filing for  bankruptcy protection in 2002. In 1998, the telecommunications industry began to slow down and WorldCom’s stock was declining. CEO Bernard Ebbers came under increasing pressure from banks to cover margin calls on his WorldCom stock that was used to finance his other businesses endeavors. The company’s profitability took another hit when it was forced to abandon its proposed merger with Sprint in late 2000. During 2001, Ebbers persuaded WorldCom’s board of directors to provide him corporate loans and guarantees totaling more than $400 million. Ebbers wanted to cover the margin calls, but this strategy ultimately failed and Ebbers was ousted as CEO in April 2002. Beginning in 1999 and continuing through May 2002, WorldCom, under the direction of Scott Sullivan (Chief Financial Officer), David Myers (Senior Vice President and Controller) and Buford Yates (Director of General Accounting), used shady accounting methods to mask its declining financial condition by falsely professing financial growth and profitability to increase the price of WorldCom’s stock. The fraud was done in two main ways. First, WorldCom’s accounting department underreported â€Å"line costs†, which are interconnection expenses with other telecommunication companies, by capitalizing these costs on the balance sheet rather than properly expensing them. Second, the company inflated revenues with bogus accounting entries from â€Å"corporate unallocated revenue accounts†. The first discovery of possible illegal activity was by WorldCom’s own internal audit department who uncovered approximately $3. 8 billion of the fraud in June 2002. WorldCom said it will restate its financial results for all of 2001 and the first quarter of 2002 to take almost $3. billion in cash flow off its books, wiping out all profit during those times. The company’s shares, among the most heavily traded on Wall Street, fell as much as 76 percent in after-hours action following the announcement and at one point were trading at 20 cents each. These transfers were apparently discovered by Cynthia Co oper, WorldCom’s vice president – internal audit. When informed about what happened, both the company’s current auditor, KPMG, and its former auditor, Andersen, agreed that these transfers were not in accordance with generally accepted accounting principles (GAAP). Following a review by the company’s audit committee, WorldCom’s board terminated Sullivan and accepted the resignation of David F. Myers, senior vice president and controller. The SEC suit came a day later. On July 21, 2002, WorldCom filed for Chapter 11 bankruptcy protection, the largest such filing in United States history. The company emerged from Chapter 11 bankruptcy in 2004 with about $5. 7 billion in debt. At last count, WorldCom has yet to pay its creditors On March 15, 2005 Bernard Ebbers was found guilty of all charges and convicted on fraud, conspiracy and filing false documents with regulators. He was sentenced to 25 years in prison. Other former WorldCom officials charged with criminal penalties in relation to the company’s financial misstatements. Sources: (2007, January 31). MCI Inc. Retrieved February 17, 2007 from Wikimedia Foundation, Inc. Web site: http://en. wikipedia. org/wiki/Worldcom (2005, July 13). WorldCom’s ex-boss gets 25 years. Retrieved February 17, 2007 from British Broadcasting Corporation Web site: http://news. bbc. co. uk/1/hi/business/4680221. stm http://www. cbsnews. com/2100-201_162-513473. html How to cite Worldcom Scandal, Essay examples

Taxi Driver free essay sample

The Go Transportation comes in many forms nowadays, car, bike, bus, train, flying, etc. Everyone is different in their opinion on which form of transportation is their favorite. All of the different kinds of transportation provide a whole different experience than the others. Coming to Montgomery County Community College, I have used three different forms of transportation to come to school. All three vary in many ways, but at the end of the day, they all got me to where I had to be. One form of transportation I use to get to school is by bus. Bus is most least favorite form to get to school. The bus is always crowded and it feels like people are sitting right on top of me when I am on It. The bus stop very frequent, which makes the ride feel very long. There Is usually no conversation going on, because everyone Is either reading or listening to music on their headphones. We will write a custom essay sample on Taxi Driver or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The bus also makes a very loud noise while In drive, which can be annoying. If I am one of the last to board he bus and there are no more seats, I am forced to stand up for a very uncomfortable ride. All in all, a bus ride is my last resort in order to get to school, because it is the least relaxing and enjoyable. But if it is my only choice at the time, I have to deal with it. Another form of transportation that I use to get to school is the train. Train rides are very enjoyable to me and I use the train to get to many places. I take the train to Philadelphia sports game very often because of how convenient it is. Train rides are DOD because it gets you to the destination faster than other forms of transportation.Also, If I am sitting at the window seat, there Is a lot to look at. Just like the bus, there is usually not much conversation going on, unless accompanied by another person. Everyone on the train Is listening to their music, reading a book or newspaper, or having a conversation with the person they came onto the train with. Train rides are more expensive than a bus ride, but far more enjoyable and fast, so it is all worth the money. Finally, the third form of transportation I have used to come to school is by car.Usually when I come to school by car, it is either with a friend or one of my parents. The ride is usually very relaxing while music is being played through the radio. During the car rides, there is always good conversation on the way to the destination. While in the car, I always get to view more out my window as opposed to other forms of transportation. Being In the front seat, there Is so much more to look at, as the car goes through different streets and towns. If It Is cold out, the heat makes me feel very comfortable.If the weather Is hot, the alarm controlling makes me feel good. A car ride Is the most relaxing form of transportation of the three that I use to get to school. There are many forms of transportation in todays world. A lot that can all take convenient but can be boring as well, and car rides are very nice and peaceful, with good conversations and music throughout the ride. Everybody has a preference in what form of transportation is preferred, but all come with different experiences along the way.

Friday, May 1, 2020

A Comparison And Contrast Of Nature Essay Example For Students

A Comparison And Contrast Of Nature Essay In the Nineteenth century Realism, Naturalism, and Symbolism were popular modes of expression by writers of that era. Such modes of expression were the use of nature in their writings. Two poets that really stand out among the rest are Charles Baudelaire 1821-1867 and Paul Verlaine 1844-1896. Baudelaire was referred to by many as the first Modern Poet and the father of modern criticism. Verlaine like Baudelaire was a symbolist poet, he was also French and referred to as the Prince of Poets. Both these poets touch on nature in their poems. It was in Baudelaires Song of Autumn I and Verlaines Autumn Song that similarities and differences were most evident. Their views of autumn had melodramatic view of death and at the same time can contrast with one another. Throughout this paper I will discuss the parallelism and divergence between these two poems. In Baudelaires first stanza of Song of Autumn I, he explains how the end of summer is near and the weather will become cold. He starts the reader off in the end of summer. Soon we shall plunge into the chilly fogs; Farewell, Swift light! Our summers are too short line 1-2, pg. 1151. Baudelaire then begins to explain the chopping down of the trees to gather firewood. This idea of the rhythmic thump firewood being delivered is repeated throughout his poem. In Verlaines Autumn Song, the first stanza is told in a very monotonous tone much like the first stanza of Song of autumn. Verlaine talks about long sobs and the feeling he has in heart, what he describing is the end of summer and begging of the gloomy season of autumn. This is exactly the same that Baudelaire describes in his first stanza. Verlaine difference in this stanza is that he starts the poem already in autumn whereas Bauderlaire starts his poem in the end of the summer. In the second stanza of Autumn Song, Verlaine discusses the feeling he has inside of him. Choking and pale when I mind the tale the hours keeplines 6-9, pg. 1169. Verlaine then relates back to memories of the summer and this makes him cry. My memory strays down other days and I weep,lines 10-12, pg. 1169. He also even makes references to idea of daylight savings time, the hours keep,line 9, pg. 1169. In that line he is saying that along with the gloomy aura of autumn there is now an extra hour. In Song of Autumn I, Baudelaires second stanza follows the theme of Verlaine. Here Baudelaire like Verlaine explains his personal feeling of autumn. All of winter will gather in my soul: Hate, anger, horror, chills, the hard forced work;lines 4-5, pg. 1151. Baudelaire however has a more cynical approach to his feeling; he describes in several adjectives the extent of his pain. Baudelaires next two lines really personify his feelings, And. Like the sun in his hell by the North Pole, My heart will be only a red and frozen block,lines 6-8, pg. 1151. What he is exemplifying in these lines is the strong hate that burns inside of him. Baudelaire seems to loathe everything that deals with autumn. As these poems progress there is an evident contrast in the tones of the poets writings. Verlaine has maintained a very slow and monotonous tone throughout, whereas Bauderlaire has been very boisterous about his feelings. Similar to a fire that has gasoline thrown on his fire his raging bigger and bigger with each stanza. In Song of Autumn I, stanza three, there really is no correlation between this stanza and the third stanza in Autumn Song. There is however a major contrast with this stanza and the whole poem by Verlaine. Baudelaire has kept a pattern of mentioning the idea of the chopping of firewood. He has kept it to an ever-other stanza pattern. Verlaine has no correlation between autumn and firewood. Baudelaire looks at autumn in a way that squirrel might. A squirrel spends autumn preparing for long haul of winter so the squirrel his constantly working through autumn. .u309ac3487269ae22c12e37cd57ecfffb , .u309ac3487269ae22c12e37cd57ecfffb .postImageUrl , .u309ac3487269ae22c12e37cd57ecfffb .centered-text-area { min-height: 80px; position: relative; } .u309ac3487269ae22c12e37cd57ecfffb , .u309ac3487269ae22c12e37cd57ecfffb:hover , .u309ac3487269ae22c12e37cd57ecfffb:visited , .u309ac3487269ae22c12e37cd57ecfffb:active { border:0!important; } .u309ac3487269ae22c12e37cd57ecfffb .clearfix:after { content: ""; display: table; clear: both; } .u309ac3487269ae22c12e37cd57ecfffb { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u309ac3487269ae22c12e37cd57ecfffb:active , .u309ac3487269ae22c12e37cd57ecfffb:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u309ac3487269ae22c12e37cd57ecfffb .centered-text-area { width: 100%; position: relative ; } .u309ac3487269ae22c12e37cd57ecfffb .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u309ac3487269ae22c12e37cd57ecfffb .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u309ac3487269ae22c12e37cd57ecfffb .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(; position: absolute; right: 0; top: 0; } .u309ac3487269ae22c12e37cd57ecfffb:hover .ctaButton { background-color: #34495E!important; } .u309ac3487269ae22c12e37cd57ecfffb .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u309ac3487269ae22c12e37cd57ecfffb .u309ac3487269ae22c12e37cd57ecfffb-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u309ac3487269ae22c12e37cd57ecfffb:after { content: ""; display: block; clear: both; } READ: The poet Edna Vincent Millay EssayBaudelaire explains All of winter will gather in my soul, the hard forced work,lines4-5, pg. 1151. He is saying the he has a lot of work to do to before the winter comes. In stanza three you see that constant chopping of logs is taking its toll on Baudelaire. I shudder, hearing every log that falls; No scaffold could be built with hollower sounds,lines 9-10, pg. 1151. Its almost as like Baudelaire is teetering on the brink of insanity with all the chopping of the trees. This stanza helps to really show how Song of Autumn I and Autumn Song, as similar as they are have differences. The last stanzas of both poems seem as though that they have no correlation, but underneath it there is a relationship between the stanzas and death. Verlaine looks at autumn in the last stanza as the final stand, he has still kept the monotonous tone throughout the poem. And I let me go where ill winds blow, now here, now therelines 13-15,pg. 1169. He goes to talk about how makes him feel like dead leaf being sent all over. Even as a dead leaf, anywhere,lines16-17,pg. 1169. Verlaine takes the approach that the autumn while carrying an essence of death, leaves one is a depressing state. Bauderlaire puts a spin on his poem; it seems that Baudelaires writing has almost assumed the role of a half-crazed man. He has gone from a tone of hate and rage, to a tone of a man that has been consumed by the madness. It seems to me, lulled by monotonous shocks, as if they were hastily nailing a coffin today. lines 13-15,pg. 1151. Baudelaire the relates back to memories of summer Yesterday was summer. Now autumn knocks,line 15,pg. 1151. He then ends the poem with an idea of death. That mysterious sound is like someones going away,line 16, pg. 1151. I feel that Baudelaire in this line is describing that the change from summer to autumn is like losing someone you love. It is very understandable for Charles Baudelaire and Paul Verlaine to have similar poems. Both were symbolists poets and from France, They live relatively close in time. That is why it is not that unusual for their styles of nature to be similar. The thing that makes these two writers so unique is the fact that they both can have such great similarities between their feelings on a certain part of nature, and at the same time both have such distant ideas of writing it. Both these writers had the same feelings when they look at autumn; it was dark desolate time of the year according to both writers. Baudelaire however seemed enrage with this time of year, the fact of saying goodbye to summer to bring on Autumn fuel a fire deep inside of him. Verlaine looks at the coming of autumn as a dismal time of the year and this was apparent in the melancholy tone he keeps throughout the poem. Charles Bauderlaire and Paul Verlaine showed that their poems had a lot similitude and differences of nature.