Norah Jones- Feels Like Home free essay sample

Mellow and enchanting, Norah Jones second CD pulls listeners into a world of awe and peace. In 2002, â€Å"Come Away With Me† earned eight Grammys. The 2004 follow-up, believe it or not, is even better. Norah Jones, born in 1979, simply has a voice unlike any other. She possesses a rare talent to sing any type of music she wants and still retain her own sound. Unlike many, her music does not make your ears ache after a certain amount of time. Instead, her melodious voice carries listeners to a place of serenity, allowing anyone to relax. This CD is the perfect choice for winding down after a long day. Songs like â€Å"Humble Me† and â€Å"The Prettiest Thing† are so beautiful that you must simply stop what youre doing and listen. If youre not in a mellow mood but still want to hear amazing vocals and wonderful instrumentals, try â€Å"Sunrise† or â€Å"Toes. We will write a custom essay sample on Norah Jones Feels Like Home or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page † No matter what, though, the beauty of Norah Jones is that anyone can find her sound smooth and serene. It almost hints at folk or blues music, and still remains mellow enough to put a smile on everyones face. Lyrically, Jones is captivating. She is the quintessence of â€Å"less is more,† for although she doesnt always sing long or detailed lyrics, she never fails to paint an image. Mellow and beautiful are simple words, but they accurately describe the music of Norah Jones.

DIvidend Policies and Financing Essays

DIvidend Policies and Financing Essays DIvidend Policies and Financing Essay DIvidend Policies and Financing Essay Dividend policy refers to the decision made by the company whether to retain the profits within the company, or they pay out the profits to the owners of the organization in the form of dividends (Garrison 2008). Once the company decides on whether to pay dividends, they may establish a somewhat permanent dividend policy, which may in turn impact on investors and perceptions of the company in the financial markets (Garrison 2008). What they decide depends on the situation of the company now and in the future. It also depends on the preferences of investors and potential investors (Garrison 2008).When deciding on the dividend policy, several factors such as legal constraints, contractual constraints, internal constraints, growth prospect, owners considerations and market considerations have to be taken into account. Considerations taken into account can be incorporated in several dividend theories such as the residual theory of dividends, the clientele theory, the signalling dividend theory, the bird-in-the-hand theory and Modigliani and miller dividend theory.Manufacturing overseas can reduce costs due to its cheap labour costs but there are other considerations that have to be taken into account. There are pros and cons for manufacturing at overseas.Companys capital structure refers to the way a corporation finances its assets through some combination of equity, debt, or hybrid securities (http://en.wikipedia.org/wiki/Capital_structure). Debt financing and equity financing has their own advantages and disadvantages but certain factors have to be considered when choosing between these two financing strategies.2.0 Factors Affecting the Dividend PolicyWhen deciding on the dividend policy, several factors need to be taken into account. The factors needed to taken into account are as follows (sources taken fromhttp://freemba.in/articlesread.php?artcode=488substcode=30stcode=10):Stability of EarningsThe nature of business has an important bea ring on the dividend policy. Industrial units having stability of earnings may formulate a more consistent dividend policy than those having an uneven flow of incomes because they can predict easily their savings and earnings. Usually, enterprises dealing in necessities suffer less from oscillating earnings than those dealing in luxuries or fancy goods.Age of CorporationAge of the corporation counts much in deciding the dividend policy. A newly established company may require much of its earnings for expansion and plant improvement and may adopt a rigid dividend policy while, on the other hand, an older company can formulate a clear cut and more consistent policy regarding dividend.Liquidity of FundsAvailability of cash and sound financial position is also an important factor in dividend decisions. A dividend represents a cash outflow, the greater the funds and the liquidity of the firm the better the ability to pay dividend. The liquidity of a firm depends very much on the investme nt and financial decisions of the firm which in turn determines the rate of expansion and the manner of financing. If cash position is weak, stock dividend will be distributed and if cash position is good, company can distribute the cash dividend.Extent of Share DistributionNature of ownership also affects the dividend decisions. A closely held company is likely to get the assent of the shareholders for the suspension of dividend or for following a conservative dividend policy. On the other hand, a company having a good number of shareholders widely distributed and forming low or medium income group would face a great difficulty in securing such assent because they will emphasize to distribute higher dividend.Needs for Additional CapitalCompanies retain a part of their profits for strengthening their financial position. The income may be conserved for meeting the increased requirements of working capital or of future expansion. Small companies usually find difficulties in raising fi nance for their needs of increased working capital for expansion programs. They having no other alternative, use their ploughed back profits. Thus, such Companies distribute dividend at low rates and retain a big part of profits.Trades CycleBusiness cycles also exercise influence upon dividend Policy. Dividend policy is adjusted according to the business oscillations. During the boom, prudent management creates food reserves for contingencies which follow the inflationary period. Higher rates of dividend can be used as a tool for marketing the securities in an otherwise depressed market. The financial solvency can be proved and maintained by the companies in dull years if the adequate reserves have been built up.Government PoliciesThe earnings capacity of the enterprise is widely affected by the change in fiscal, industrial, labor, control and other government policies. Sometimes government restricts the distribution of dividend beyond a certain percentage in a particular industry o r in all spheres of business activity as was done in emergency. The dividend policy has to be modified or formulated accordingly in those enterprises.Need for FundsDividends paid to stockholders use funds that the firm could otherwise invest. Therefore, a company running short of cash or with ample capital investment opportunities may decide to pay little of no dividends. Alternatively, there may be an abundance of cash or a dearth of good capital budgeting projects available. This could lead to very large dividend payments.Management Expectations and Dividend PolicyIf a firms managers perceive the future as relatively bright, on the one hand, they may begin paying large dividends in anticipation of being able to keep them up during the good times ahead. On the other hand, if managers believe that bad times are coming, they may decide to build up the firms reserves for safety instead of paying dividends.Stockholders PreferencesReinvesting earning internally, instead of paying divide nds, would lead to higher stock prices and a greater percentage of the total return common stockholders receive coming from capital gains. Capital gains are profits earned by an investor when the price of a capital asset, such as common stock, increases.Common stockholders may prefer to receive their return from the company in the form of capital gains and some may prefer to receive their return from the company in the form of dividends. Capital gains are not taxed at all unless they are realized. That is, unless the stock is sold. The board of directors should consider stockholder preferences when establishing the firms dividend policy.Restriction on Dividend PaymentsA firm may have dividend payment restrictions in its existing bond indentures or loan agreements. For example, a companys loan contract with a bank may specify that the companys current ratio cannot drop below 2.0 during the life of the loan. Because payment of a cash dividend draws down the companys cash account, the current ratio may fall below the minimum level required. In such a case, the size of a dividend may have to be cut or omitted. In addition, many states prohibit dividend payments if they would create negative retained earnings on the balance sheet. This restriction is a prohibition against raiding the initial capital. Figure 1 summarizes the factors that influence the dividend decision.Figure 1: This figure identifies key elements that make a dividend payment more or less likely.2.1 Leading Dividend TheoriesThe factors that affect the dividend policy can be incorporated in several dividend theories. Dividend theories can be divided into dividend relevance theory and dividend irrelevance theory. Dividend relevance theory refers to the value of a firm is affected by its dividend policy while dividend irrelevance theory refers to a firms dividend policy has no effect on either its value or its cost of capital (studyfinance.com/lessons/dividends/index.mv?page=01).2.1.1 Dividend Relevanc e TheoriesAccording to Gallagher Andrew (2007) dividend relevance theories are as follows:The Clientele Dividend TheoryThe clientele dividend theory is based on the view tat investors are attracted to a particular company in part because of its dividend policy. For example, young investors just starting out may want their portfolios to grow in value from capital gains rather than from dividends, so they seek out companies that retain earnings instead of paying dividends. Stock prices tend to increase as earnings are retained and the resulting capital gain is not taxed until the stock is sold.Older investors, in contrast, may want to live off the income their portfolios provide. They would ten to seek out companies that pay high dividends rather than reinvesting for growth. According to the clientele dividend theory, each company therefore has its own clientele of investors who hold the stock in part because of its dividend policy.If the clientele theory is valid, then it doesnt muc h matter what a companys dividend policy is as long as it has one and sticks to it. If the policy is changed, the clientele that liked the old policy will probably sell their stock. A new clientele will buy the stock based on the firms new policy. When a dividend policy change is contemplated, managers must ask whether the effect of the new clienteles buying will outweigh the effects of the old clienteles selling. The new clientele cannot be sure that the most recent dividend policy implemented will be repeated in the future.The Signaling Dividend TheoryThe signaling dividend theory is based on the premise that the management of a company knows more about the future financial prospects of the firm than do the stockholders. According to this theory, if a company declares a dividend larger than that anticipated by the market, this will be interpreted as a signal that the future financial prospects of the firm are brighter than expected. Investors presume that management would not have raised the dividend if it did not think that this higher dividend could be maintained. As a result of this inferred signal of good times ahead, investors buy more stock, causing a jump in the stock price.Conversely, if a company cuts it dividend, the market takes this as a signal that management expects poor earnings and does not believe that the current dividend can be maintained. In other words, a dividend cut signals bad times ahead for the business. The market price of the stock drops when the firm announces a lower dividend because investors sell their stock in anticipation of future financial trouble for the firm. If a firms managers believe in the signaling theory, they will always be wary of the message their dividend decision may send to investors. Even if the firm has some attractive investment opportunities that could be financed with retained earnings, management may seek alternative financing to avoid cutting the dividend that may send an unfavorable signal to the mark et.The Bird-in-the-Hand TheoryThe bird-in-the-hand theory claims that stockholders prefer to receive dividends instead of having earnings reinvested in the firm on their behalf. Although stockholders should expect to receive benefits in the form of higher future stock prices when earnings are retained and reinvested in their company, there is uncertainty about whether the benefits will actually be realized. However, if the stockholders were to receive the earnings now, in the form of dividends, they could invest them now in whatever they desired. In other words, a bird in the hand is worth two in the bush.If the bird-in-the-hand theory is correct then the stocks of companies that pay relatively high dividends will be more popular and therefore will have relatively higher stock prices than stocks of companies that reinvest their earnings.2.1.2 Dividend Irrelevance TheoriesDividend irrelevance theories are as follows (Gallagher ; Andrew 2007):The Residual Theory of DividendsThe residu al theory of dividend is widely known. The theory hypothesize the amount of dividends should not be the focus of the company. Instead, the primary issue should be to determine the amount of earning the firm should retain within the firm for investment. The amount of earnings retained, according to this view, depends on the number and size of acceptable capital budgeting projects and the amount of earnings available to finance the equity portion of the funds needed to pay for these projects. Any earnings left after these projects have been funded are paid out in dividends because dividends arise from residual or leftover earnings, the theory is called the residual theory.The residual theory focuses on the optimal use of earnings generated from the perspective of the firm itself. This may appeal to some, but ignores stockholders preferences about the regularity of and the amount of dividend payments. If a firm follows the residual theory, when earnings are large and the acceptable cap ital budgeting projects small and few, dividends will be large. Conversely, when earnings are small and many large acceptable projects are waiting to be financed, there may be no dividends if the residual theory is applied. The dividend payments will be erratic and the amounts will be unpredictable.Modigliani and Millers Dividend TheoryFranco Modigliani and Merton miller (commonly referred as M;M) theorized in 1961 that dividend policy is irrelevant. Given some simplifying assumptions, M;M showed how the value of a company is determined by the income produced from its assets, not by its dividend policy. According to the M;M dividend theory, the way a firms income is distributed (in the form of future capital gains or current dividends) doesnt affect the overall value of the firm. Stockholders are indifferent as to whether they receive their return on their investment in the firms stock from capital gains or dividends so dividends dont matter.2.2 Advantages and Disadvantages of Overs eas ManufacturingManufacturing at overseas certainly saves cost of production in some degree due to cheap labor and material cost but it has its advantages and disadvantages for overseas manufacturing.2.2.1 Advantages of Overseas ManufacturingEase and Speed of Distribution: Manufacturing in overseas shortening the distance between the original location of manufacturer and its distribution market (if the manufacturer has its markets around the region of the considered location). For example, when Nike manufacturer from United States manufactures in Malaysia, they have greater ease and speed of transportation for goods and people to other Asian markets. Besides that, transportation and shipping cost may be reduced due to a shorter distance for shipping and distribution.Cost Savings: In less-developed countries, labor cost is cheaper than developing and developed countries. It is estimated that a company that manufactures in less-developed country can cut costs by between 30% and 80% d epending on how labor intensive the product is. Besides that, material cost is also cheaper compared to developed countries too.Gain in Efficiencies and Economies of Scale: Besides that, in the long run, manufacturing overseas can gain efficiencies and economies of scale which will assist in reducing unit cost as output increases. Moreover, the initial investment of capital may be spread over an increasing number of units of output and therefore the marginal cost of producing a good or services decreases as production increases.Low Capital Costs: Low capital cost is one of the advantages that encourages manufacturing overseas. The cost of capital in developing or developed countries is higher than the cost of capital in less-developed countries.Incentives for Manufacturing: Some of the less developed countries encourage overseas manufacturers to invest or manufacture in their country. In order to attract manufacturers, these less-developed countries do offer incentives for the manuf acturers. For example, Penang has offered incentive to Motorola from USA in order to attract them to manufacture at Penang.2.2.2 Disadvantages of Overseas ManufacturingQuality of Production Suffers: Cheap labor is an advantage for cost savings. Inversely, it reduces the quality of the products as cheap labors usually produce less quality productions. Therefore, the products will suffer in quality as most of the cheap labors are unskilled or semi-skilled. Indirectly, the manufacturer may lose its customers due to the production of less quality products.Time Consuming: When an organization wants to manufacture in overseas, the organization has to analyze and comprehend the considered location and also the facilities available around the setting up area. The analysis and comprehension takes considerable time to complete in order to have a perfect set up in overseas. Therefore it spends considerable time and energy to understand the considered location (Sweeney N.D.).Complexity: To oper ate oversea is not as easy as locally. Most of the manufacturers have adapted to their own manufacturing culture and therefore adapting to another manufacturing environment would be difficult for them to familiarize with it. First of all, language may be a barrier, for example, it is difficult to communicate with the South Americans labors if we are not familiar with Latin (Sweeney N.D.). Besides that, finance, tax, and labor laws will be different and must be understood (Sweeney N.D.). Sweeney (N.D.) stated that, understanding national cultures and subcultures are important for any activity as manufacturers have to deal with government and private sector people and especially selling into the market.Brand Risks: Nowadays, consumers are perceived where the product is made from. The production location is a factor that will affect the brand image and reputation. For example, consumers would prefer a product made in USA rather than made in China. If the manufacturer produces in Bangla desh it may more or less affect their images as some of the consumers believe that products from developed countries are much better than less-developed countries and therefore the image and reputation of the brand may suffer.Availability of Expertise: The availability of expertise is one of the factors that should be considered when organization seeks to manufacture overseas. Less developed countries may not provide the expertise in the fields required.Long Start Up Time: It is not easy for manufacturer to start up their manufacturing process. To manufacture in a smooth way requires time. It usually requires a considerable of long time start up and familiarize.3.0 Debt ; Equity Financing3.1 Equity FinancingEquity financing is a method to acquire capital that involves selling a partial interest in the company to investors (Brian 1990). In return of the money paid, shareholders receive ownership interests in the corporation (Brian 1990).3.1.1 Pros and Cons of Equity Financing3.1.2 Pr os of Equity FinancingThe advantages of equity finance are:Commitment of Funds: The funding is committed to the business and intended projects. Investors only realize their investment if the business is doing well (eg. through flotation or a sale to new investors).Vested Interest: Investors have the same interest that is to keep the business going on well and generate maximum profits which leads to an increase in the value of the business.Follow-up Funding: When business grows, investors are often prepared to provide follow-up funding.(Source of reference:businesslink.gov.uk/bdotg/action/detail?type=RESOURCES;itemId=1073789573)Wider Pool of Finance: When company is listed in stock exchanged, the company has the access to wider pool of finance.Quality Products: The owners will pay proper attention for improving the quality of products. The reason is the appropriate of quality product goes to them.No Interest Cost: No payment of interest for the funds provided by the shareholders. The cost of production remains low as there is no burden of interest.Earning Remains with the Firm: When funds provided by shareholders for improvement in the business are making profits, the earnings are remained with the owners. Earnings are not shared by the creditors.To Tide over Emergencies: Firm is in a better position to tide over recession period and other emergencies due to no burden of rate of interest.Ability to borrow: Borrowing ability is improved if the equity capital is financed well.(Source of Reference: blurtit.com/q303144.html)Sources of Skills and Experiences: Good investors can bring resources for the business. They can help one to get skilled people, right contacts to build the business. They might also help out with their own experience in the formation of the strategy or with decision making.No Obligation for Repayment: No obligation for the repayment of the finances in the initial phase of the business when the cash flow is quite slow. Whereas, in bank loans the re are severe obligations and penalties in case a business fails to generate monthly interests and make the monthly payments to the bank.(Sources of Reference:freewarefiles.com/techfi/Advantages_of_Equity_Financing.html)Pledge No Assets: Corporation does not have to pledge their assets as collateral to obtain equity investments.Availability of Cash: Business will have more cash available due to no debt payments have to be made.(Source of reference:http://forums.forbes.com/forbes/board/message?board.id=entreforum;message.id=399)3.1.3 Cons of Equity FinancingThe disadvantages of equity finance are:Costly and Time Consuming: Raising equity finance is costly and time-consuming. Business may suffer as times are devoted to the deal. Potential investors will seek background information on owner and his business and they will closely scrutinize past results and forecasts and will delve the management team.Interference in Management: The equity investors can interfere in the management of th e company and in addition they also have the voting rights which could influent the making of major decisions.Extra Effort to Provide Information: Founder will have to invest management time to provide regular information for the investor to monitor the situation of the business.Share Dilution: Founders share in the business will be diluted which means lessen in strength. Besides that, businesss profits will be shared by other equity investors.Legal and Regulatory Compliance: There can be legal and regulatory issues to comply with when raising finance (eg. when promoting investments).(Source of Reference;businesslink.gov.uk/bdotg/action/detail?type=RESOURCES;itemId=1073789573)Limitation of Control: Founders must give up some control of the business. If investors have different perceptions and ideas about the companys strategic direction or day-to-day operations, they can pose problems for the entrepreneur.(Source of Reference: answers.com/equity+Financing?cat=biz-fin)No Tax Deductio n: Dividend payments are not tax deductible.(Source of Reference:http://forums.forbes.com/forbes/board/message?board.id=entreforummessage.id=399)3.2 Debt FinancingAccording to (answers.com/debt+financing?cat=biz-fin) debt financing is a strategy that involves borrowing money from a lender or investor which the full amount will be repaid in the future usually with interest within a certain period. It asserted that it does not include any provision for ownership of the company. Debt financing has a prior claim on the company irrespective of the profits earned despite the company goes into liquidation (Joseph 2008).3.2.1 Pros and Cons of Debt Financing3.2.2 Pros of Debt FinancingMaintain ownership: The debt holder cannot interfere in the management of the company and they do not have the voting rights. Therefore, business can be run without outside interferenceTax deductions: Principal and interest payments on a business loan are classified as business expenses and thus tax deductible. It also lowers the actual cost of the loan to the company.Lower interest rate: There is a lower interest rate of debt financing when interest rate is lower than tax rate (where the business can take a loan and have a deduction on tax rather than high interest rate).(Source of Reference: http://entrepreneurs.about.com/od/financing/a/debtfinancing.htm)No Complex Procedures Required: Debt financing is easier to obtain than equity financing. Raising debt capital is less complicated because the company is not required to comply with state and federal securities laws and regulations.No Profits Sharing: Profits of company are not shared with the lenders who require capital appreciation and dividends on their investments.Forecasting: Interest and principal payments are typically a know amount that can be forecast.(Source of Reference: job-employment-guide.com/business-financing.html)No Extra Rewards: Debt holders are entitled only to repayment of the agreed-upon principal of the loan plus interest and have no direct claim on future profits of the business if the company has made extra profits.Saving Management Time: Company does not have to send periodic mailings to large numbers of investors, hold periodic meetings with shareholders and seek the vote of shareholders before taking certain actions.(Source of Reference: http://smallbusiness.findlaw.com/banking_financing/be1_5debtvsequity.html) David H. Schwartz3.2.3 Cons of Debt FinancingRepayment: Sole obligation to the lender is to make payments on time. If the business fails, the company still has to make payments. If business goes into bankruptcy, lenders will have claim to repayment before any equity investors.Impacts Credit Rating: It seems to be attractive to keep bringing on debt when company needs money, a practice known as levering up, but each loan will be noted on your credit rating. The more borrowings, the higher the risk to the lender and the higher interest rate the company will have to pay.Cash and Col lateral: The company is usually required to pledge assets of the company to the lender as collateral, and owners of the company are in some cases required to personally guarantee repayment of the loan.(Source of Reference:http://entrepreneurs.about.com/od/financing/a/debtfinancing.htm)Difficulty in Business Growth: Interest is a fixed cost which raises the companys break-even point. High interest costs during difficult financial periods can increase the risk of insolvency. Companies that have large amounts of debt as compared to equity often find it difficult to grow because of the high cost of servicing the debt.Restrictions on Activities: Debt instruments often contain restrictions on the companys activities, preventing management from pursuing alternative financing options and non-core business opportunities which results in losing of other investment opportunities.(Source of Reference:http://smallbusiness.findlaw.com/banking_financing/be1_5debtvsequity.html)3.3 Consideration Fac tors for Sources of FinanceEquity financing and debt financing is the option for a company that needs financing. Each company is unique and they have their own financing requirements and therefore, it is inappropriate to determine any one of the financing methods is the best option for companies. There are certain factors that a company needs to consider before choosing the right financing method:The size of the company: Larger companies may obtain financing by equity financing due to the needs of wider pool of finance for company growth (Joseph 2008). However for smaller companies, debt financing is much easier to obtain because its not easy to reach the status of public limited company and the issuance cost of equity finance is unaffordable by smaller companies (Joseph 2008).The ability to generate cash flow: This relies upon the operations of the company (Joseph 2008). If the company is able to generate enough cash flow, the company may seek debt financing because debt financing requires cash make frequent repayment of interest and principal (Joseph 2008).Any Restrictive Covenants: If the company is restricted by the lender from subsequent borrowings, equity financing is more appropriate due to the bindings against the company.The Cost of Financing: The cost of financing for debt financing is cheaper than equity financing due to the debt financer is exposed to lesser risk and he is entitled for prior claim in the companys profits and interest payable are tax deductible (which means actual cost of debt is lesser) (Joseph 2008).The Duration of Borrowing: The longer the duration, the interest rate charged on the borrower will be higher (Joseph 2008).The Current Gearing Level: If a company has a high gearing level, it is the best to go for equity financing whilst if a company has a low gearing level, they can go for debt financing (Joseph 2008).4.0 ConclusionNot every dividend policy suits a company. When deciding on how much dividend should be distributed to t heir investors, factors such as legal constraints, contractual constraints and etcetera have to considered to obtain the most suitable and appropriate dividend policy for better financing.Factors that affect dividend policy can be incorporated in several dividend theories such as residual dividends theory, clientele theory, signalling dividend theory, bird-in-the-hand theory and Modigliani Miller dividend theory. These theories can be classified into dividend relevance theory where its dividend policy will affect on companys value and cost of capital and dividend irrelevance theory where its dividend will not affect on companys value and cost of capital.Overseas manufacturing gains advantages such as cost savings and economies of scale. Inversely, it also has other effects such as no expertise available and also time consuming for starting a new factory.Companys capital structure can be financed through debt financing and equity financing. These are the strategies that a company ca n get its fund. However, these two strategies have their own advantages and disadvantages. When implementing any of those strategies, factors such as size of the company, ability to generate cash flow, current gearing level and other factors have to be considered in order to have the most suitable strategy to finance the organization.

The decline of manufacturing sector in U.S.A. has been compensated by Essay

The decline of manufacturing sector in U.S.A. has been compensated by a growing service sector - Essay Example United States has for more than three decades witnessed growth in its service sector and a converse trend in manufacturing. This has been the trend for many high income countries as they have been shifting reliance from manufacturing to service. This is a post-industrialization trend where people’s income continues to rise with less interest in investment in material processing The current trend has been more investment or shift to health care, education, insurance and others. It is important to mention that employees’ productivity grows slowly in the service sector than in the manufacturing the reason being low mechanization in service processes. Services therefore become more expensive which results in them contributing a higher portion of US GDP (Gallaher 49). This trend has also resulted to having higher employment in service sector than in the mechanized manufacturing sector. The service sector is now leading while manufacturing is declining with former compensatin g for the decline. The service sector capitalizes in production of intangible commodities in health, information and communication, education and others (Triplett and Bosworth 64). Globalization has been one of the key factors towards the shift from manufacturing to service. Manufacturing firms have been relocating to other countries mostly in the developing economies which either have more people in the low-income or middle-income bracket. Countries like China and India have for the last two decades been encouraging foreign investments through various incentives like tax holidays and low wages for workers. American government in turn is trying to develop policies that will see most of its citizens above the minimum wage bracket; a move that is driving industries to foreign countries. The service sector is labor intensive and it requires highly skilled personnel therefore raising the need to have quality and sustainable education. Also due to globalization many skilled immigrants ha ve come to the United States to seek jobs in the service sector resulting to high brain drain especially in the developing nations (Gallaher 130). Global trends also dictate firms to engage in more environmentally friendly activities and the service sector has come to solve this problem. The service sector engages in more human capital than natural. This has made United States to have heated debates regarding quality of education so as to have more skilled human capital (Gallaher 89). The general lack of undue intervention in the natural resources reduces environmental degradation which is more prone with manufacturing firms. Environmental consciousness has therefore caused investors to shift their investments to more environmentally friendly businesses. Statistics show that in the turn of the 20th century America’s manufacturing and agricultural sectors had taken more than 75 percent of the GDP while in the turn of the 21st century the service sector had more than 60 percent contribution (Triplett and Bosworth 106). This is a huge turn of events considering that it is a gap of just a century. It is within this century that America’s economy grew tremendously into the current post-industrialization era. The above statistics show that to a large extent the service sector is surely filling the gap left with the decline in the manufacturing sector. The world economy has in the last four decades experienced turbulence of booms and decline which have affected the two sectors differently. The manufacturing sector over this period has been heavily affected and shrunk as a result (AIER 2006). The recent economic crisis of 2008 heavily affected industries like motor vehicle manufacturers leading to closure of many plants, takeovers, bailout programs and many other negative occurrences. In the recovery trend the service sector has been seen to recover quickly than the manufacturing

The American Frontier Assignment Example | Topics and Well Written Essays - 750 words

The American Frontier - Assignment Example These settlers and the Native Americans were mythologized in terms of their cultures and economic activities. In this mythological era, the white settlers got two opportunities; to practice slavery and extend their ranches and farm lands. Most Southerners were whites who had settled earlier to cultivate land and mine precious metals for economic gains. Historical studies reveal that the Southerners created a myth which justified that the uncivilized black slaves were meant to labor for the white planters since the white communities catered for the needs of the so-called inferior beings. In addition, they claimed that both societies lived happily and in an orderly manner since everyone knew their social positions in the community. With the aid of this myth, the white settlers had the opportunity to exploit the cheap slave labour and exercise powers over the blacks (Slatta, 2010). Another prominent mythological belief is that the ranchers needed to secure large tracts of land in order to pursue their livelihood. The myth justified that the extensive tracts of land were to be made available for commercial farming for the ranchers. They claimed that the produce from the ranches supported them and the loyal black slaves, as well. Most arguments made by the mythologized settlers were based on the ideology that as far as they are benefiting in the New World, no law was to be made to remove such benefits. Some of the beliefs about ranching may include; ranchers would protect the land, livestock benefits the wildlife, public lands support the rancher, rangeland would stay healthy if were grazed, and more (Slatta, 2010). In other words, the ranchers didn’t consider the environmental impact of extending ranches such as imbalance of the ecosystems and climatic changes. Instead, they used that opportunity to enrich themselves with many herds of cattle at the expe nse of environment. As stated earlier, the closing of the American

Poverty a retrospect of beliefs with the wrong reality Essay Example for Free

Poverty a retrospect of beliefs with the wrong reality Essay As children we see life through a different set of eyes than others, and we accept the reality of our surroundings by how others judge us. We were the poor kids of the neighborhood and the others kids let us know that. My parents divorced when I was 5 and things were rough for my mother with 3 kids to raise on welfare. We thought we had it bad. Sometimes, we didn’t know where the next meal was coming from or who was going to help if things got worse; I remember we would stand in line to receive the food box for the month. Mom would put meals together and then she would leave for several weeks at a time, being on the road working for the Roller Derby. We never knew who our babysitters were going to be or if they were going to treat us with some sort of dignity and respect. Many times we took matters into our own hands and got rid of them and others just left, because we were not always the best behaved kids in the world, and we were always in some kind of trouble. The cops would bring us home at least 3 times a week for doing some crazy thing in the neighborhood, or stealing something from the local store to eat. After a while the cops and the store owners would just ask if we had something to eat or if there was something that we needed. Those were the days when people did come together and help others that were less fortunate, and we definitely needed the help. Our cousins lived in Firestone Park, a suburb of Los Angeles. They had some of the same obstacles to overcome except they did not have the community support that we received. My aunt was a single mother and did not receive food stamps. As I think back now on the difference between our lives, and the obstacles they faced compared to ours, we had it made. We faced challenges just as they did; I have been behind bars many times in my life. Both I and my older brother had interventions that changed our lives. My brother found out that the only way to change his life was to change his environment and look for other ways to support himself and his family than drugs. There were no food boxes available to my cousins and the cops were not as forgiving as they were in our neighborhood; the cops took my cousins to juvenile hall. There is one difference between my cousins and my family; they were half black and white. They were not looked at with the same sympathetic eyes as us and they told us about the way they were treated by the people of the city, and putting you all behind bars was the only way to solve the problem. From early on in their lives, they had to face the harsh reality that they were not treated the same as others even in their own community. Being called names by the other kids in the neighborhood, they had to fight everyday just to earn respect and they became the aggressors. They did things that we never thought of at our age, but that was the live they lived. My cousins went to juvenile hall very early on, and when they would get out, it did not take long for them to be locked up again. One of my cousins has spent over 3/4th of his life behind bars, and that is the only life he knows. We had spent a couple of days here and there in juvenile hall where they spent months throughout their teenage years. They did not have the same kind of caring community members as we did in our little part of the world; being a big city, crime was a way of life for kids there. There were not many options for the young people and joining a gang and the reality of death was just an everyday part of life. Drug abuse was prevalent and my cousins excelled in the life of crime. If it had not been for the YMCA in our community and the people that were placed into our lives, things for us could have been just as it was for my cousins. Both of my brothers have been in jail a time or two, except for my youngest brother who is spending the rest of his life in prison. He was sentenced to 25 to life, 25 to life and 18 years for crimes he was involved in 1994. I moved away from Stockton, California in 1996. My older brother moved away several years after I did and he now lives in Waldport, Oregon. He is a well respected part of the community. My journey began in 1995, after suffering a heart attack behind an overdose of Methamphetamine; I knew that I needed to change my life when I woke from the coma, and the charges that I was facing from running from the law for over 2 years. The judge whom I went in front of gave me my way out, but the road was not going to be easy. I had to complete a drug program, pay up all my fines and go to parenting classes. My kids had suffered long enough; they had to deal with all my addictions, the stealing, lying and cheating. It was going to be a battle, but I was willing to do what it was going to take to put my life back on the right track. The judge looked at me and told me â€Å"that if you do not complete this program and do all the requirements that I have set forth, that I would be facing 15 to 20 years straight time†. Thanks to the Veterans Administration and a Stockton Sheriff named Officer Garcia, the judge was going to give me a chance of a lifetime. All of the charges against me were to be dropped, and my records sealed and I would have a fresh start in life. The judge said it was against his better judgment to give me this opportunity, but I had a lot of people willing to give me a chance. He was looking forward to putting me behind bars. My cousins never had any kind of opportunities such as the one I was given and they were criminals and they would be punished to the full extent of the law. All of my cousins are in prison for life because of 3 strikes law. One of my cousins was not so lucky; He was shot and killed by the Los Angeles police that said he had pulled out a gun but none was ever found. They called it justifiable shooting, also known as guilt by association. I look back at the events of my life and realize that we were not poor by any means compared to other families in the Los Angeles area. The opportunities we had been given were not there for them and although we committed some of the same crimes, their punishment was more severe. I could never imagine being where I am today. I thank God for the people I have had in my life that gave me some different perspectives and hope that I could have more than I ever dreamed of. I look at how my cousins were raised and they way we were, and there are similarities, but we had it easy compared to them. Being of two different nationalities and dealing with the everyday stresses of the big city life must have been a burden that I am not sure if we would have survived. I must admit that life was not always rosy and wonderful, but we always had a roof over our heads and we might not have had the best meals but at least we had one. I am grateful to all the people I have had in my life that thought there was something to fight for and never let me give up hope. I pray for my cousins every day and give thanks to the lord for all that I have been given. Works Cited †. Howell, James, Decker, Scott H. â€Å"The Youth Gangs, Drugs, and Violence Connection Office of Juvenile Justice and Delinquency Prevention, January 1999. U. S. Department of Justice. Boyz N the Hood Singleton, John. 1991. Columbia Pictures

We Must Build a Culture of Peace Essay -- Graduate College Admissions

We Must Build a Culture of Peace      Ã‚   " Think global, act local" is an appealing slogan, but the advice falls short. We live in a world where our best friends live on different continents and we converse more with our neighbor in Nigeria than our neighbor next door. No longer is it logical to say, "Charity begins at home." Instead, our work for human dignity and human rights must be carried on everywhere at once. To create a global culture of peace, youth of the new millennium must think and act both "global" and "local" contemporaneously.    Youth with a burning inner desire to see a global culture of peace must seek opportunities and relationships in which to demonstrate peace. Over 50 years ago, a child fugitive knew this and proclaimed, "How wonderful it is that nobody need wait a single moment before starting to improve the world" (Frank). As a young teen, Anne Frank innately knew that the premise for building a global culture of peace is for each of us to reach out and touch the lives of as many people as possible in an attitude of love and tolerance. To accomplish this goal, young people must work concurrently in 3 spheres: local, national, and global.       Locally, we can create our own community-based peace clubs and/or we can join established clubs within schools which promote peace, peer mediation, and conflict resolution. In these clubs youth can learn about peace and then go a step further to educate others by organizing peace walks, writing letters, distributing petitions, planting peace gardens, writing poetry and essays about peace to present in coffee houses, sponsoring peace essay and art contests, writing peace plays to present to the public, and/or publishing our own newspapers.   ... ...me sow love" (Halamandaris). We must let our peace flow outward to influence other youth and adults to join us in our cause. For it is only when we agree to settle our disputes and attain "liberty and justice for all" with words and not wars, gentleness and not genocide, harmony and not hatred will we achieve the ultimate goal - a global culture of peace.    Bibliography Dumas, Alexandre. The Three Musketeers. Bergenfield, New Jersey: Penguin USA, 1982. Frank, Anne. The Diary of a Young Girl: The Definitive Edition. Otto H. Frank, Editor. New York: Doubleday, 1995. Halamandaris, The Brothers, editors. Caring Quotes: A Compendium of Caring Thought. Washington, DC: Caring Publishing, 1994. "World Population Trends." United Nations Population Division, Department of Economic and Social Affairs (DESA). May 28, 2000. Available http://www.un.org

Brothers Grimms

German folk literature undoubtedly is of the nationalistic nature, but not in the negative sense that most people usually associate it with. The Brothers Grimms folk tales have been thought of to have greatly influenced the German nationalistic attitude of which was pertinently shown in the twentieth century. Jakob Ludwig Karl Grimm (1785–1863) and Wilhelm Karl Grimm (1786–1859) are German philologists and avid collector of folk tales. They are the brothers who were made famous by the hundreds of children stories they wrote. Their book contains a collection of what probably are still the most famous children’s stories.The Brothers Grimms started taking an interest in fairy tales in 1803. Since then, both began writing down the tales that have been handed down from generation to generation. Most of these were not German, but are in fact of French origin. The Brothers Grimms went to a large extent to modify these stories and add a German touch to each of them. Ther e were a lot of myths regarding how these stories were collected. Only until a few years back had it been known that these stories were collected from the bourgeoisie, instead of what was believed to be from uneducated German peasants.The results of these extensive studies on folklore lead to the publication of their book Kinder- und Hausmarchen (English: Children's and Household Tales) contain the most beloved folktales in the work today. They have been translated to numerous languages – evidence that indeed these stories have interest the world. The first volume of the first edition of the Brothers Grimms collection of Folk tales was published in 1812, which contained 86 stories. The second volume followed in 1814 and contained 70 tales. Much were added and subtracted from the original set of stories in the succeeding editions of the collection.By the seventh edition, the Grimms’ Fairy Tales totalled 211 tales. Among the most popular of these 211 tales are The Little Red Riding Hood, Cinderella, Snow White, Hansel and Gretel, Sleeping Beauty and Rumpelstiltskin. It would be impossible to fully analyze each one of these stories as there are so many of them. Contrary to what the names suggest, these folktales are not so much about elves and fairies but more on foolish younger brothers, beautiful ladies, vain queens, mighty kings, wicked stepmothers, and anthropomorphized frogs and mice.Trickster figures are also rampant in Grimms’ stories, and most often than not, the heroes must trick these tricksters in order to fulfil their fortunes. The first edition of the Brothers Grimms stories received several criticisms. The book was entitled Children’s and Household Tales. However, critics feel that these stories are not suitable for children. The stories contain in-depth scholastic information that was regarded to be too heavy for children. They also had references to such subject matter such as sex and violence.The Brothers Grimms resolv ed to change some details of their fairy tales to fit suitability for children. Snow White and Hansel and Gretel used to have wicked mothers in the first edition. In the subsequent editions of the story, it was changed to wicked stepmothers. They also removed proofs of Rapunzel’s betrayal to the prince. She was not made pregnant in the later editions. Also, since these stories were not originally German, a lot of terms had to be changed. A fairy is an enchantress. A prince is a king’s son, while a princess should be a king’s daughter.Considerable attempts were also made to reconstruct the stories and make it more German. Many of the stories in Grimms’ fairy tales are considered to be coming-of-age stories. Young boys must prove their worth against the strong forces of nature or their domineering siblings. Young girls must leave their parents behind and learn to live with their husbands. The stories show how a lady or a gentleman should behave, with emphas is on decorum, responsibility and respect for superiors. The stories invoke obedience as reverence and love for the king. Great honor and glory is attributed with serving in the military.Loyalty also played a major part in the plot of the stories, which stress that anything beside a nationalistic spirit is unacceptable. Class separation is also very prominent in the stories. Generally, heroes are of low social status who turned out to be part of the royal family in the end. Heroes are depicted as gentle and compassionate to old women, poor peasants, and even to wounded animals. They are always rewarded with some treasure such as gold and silver, or are provided with a beautiful bride. On the other hand, a foolish character often finds himself a victim of some magic spell.The Brothers Grimms could not have stressed in their Fairy Tales the importance of the above mentioned values. With the over two hundred fairy tales in their collection, these values repeat themselves in all stories . Regardless if that story is about romantic love, filial love, adventure or heroism. These are the values which constantly show in each of the tales. Obviously, the brothers would want their readers to familiarize and apply these onto their daily lives. It is evident in the fairytales that the Grimms would want to teach about good values such as sympathy, kindness, loyalty and bravery.They want to educate by illustrating that heroes are richly rewarded while the villains are severely punished. The stories allow them to impart the values that are necessary for a nation to survive. The Germany we now know is different from what Germany was before 1800. It was only a group of people united together by one language, nothing more. With the publication of Grimms’ fairy tales, they combined fairytales that depicted real German culture and unified Germany. In fact, they have done their jobs perfectly well as Germans have a strong sense of nationalism.The Brothers Grimms, through the ir fairy tales are strong advocates of nationalism in Germany. However, what sets the Grimms’ fairy tales apart from the rest are the violence involved, especially in punishing the wicked. They contain more violence compared to other folk tales. This probably is the reason why the first edition received so much criticism on the stories as being children’s stories. The Brothers Grimms did not intend their stories solely for the children, however. As philologists, they sincerely hoped that their works can be used as resources in the studies of not only German literature but of German history, as well.Needless to say, the Brothers Grimms are granted as their collection of fairy tales have indeed made it to the cultural archives of German philology and are being used by scholars worldwide in understanding the German culture and language better. The Brothers Grimms were not only writers but are also active nationalists. They lived in an era when Germany was still a colony o f the French, and literature proved to be an outlet for them to do their share to preserve the German heritage. They wrote about princes and princesses, of magic and witches.But more than just being bedtime stories, these stories stirred the nationalistic character of their readers. They fought using their stories the promotion of a nationalistic Germany. The stories manage to bring back to life a time when knights were bold and the ladies were fair, when good always triumphed over evil, and when bravery and virtuosity were held in the highest esteem. Under Napoleon’s French rule, the Brothers Grimms strived to preserve what was German. That age was the age of Enlightenment. It was an age where traditional things are done in unconventional ways.France was probably the strongest advocate of the idealogies of Enlightenment at that time. Its ideals launched the infamous French Revolution which affected the whole of Europe. And France brought these Enlightenment ideas with them t o Germany. The brothers were two of those who encouraged their fellow Germans to reject the French ideologies, and instead take pride of their own culture. Through what may probably be thought of as cute bedtime stories nowadays, the brothers rallied to their people an intellectual backlash against the Germans which culminated the War of Liberation unifying the whole of Germany against Bismarck’s rule.This intellectual backlash further presented itself in other areas such as philosophy, science and politics. Other intellectuals resolved to reject the Enlightenment, and instead looked deeper into their culture for inspiration. This movement known as Romanticism spread far beyond Germany. And undoubtedly, our Brothers Grimms made a huge contribution to that development process. People started looking within themselves the attitude and abilities demonstrated in Brothers Grimms characters. People started to place much importance into their own cultural heritage.They were made awa re how important it is for a country to preserve its culture so it can also survive. In a way, whenever Grimms’ heroes fight the wicked spirits, the brothers are also fighting the French colonizers. In an impressive way they participated in motivating the rest of the German people to stand up and fight Napoleon’s rule. It was easy for the French to colonize a Germany that was not unified. Germany at that time don’t recognize themselves as one country. They do not have that sense of pride to be Germans.More so, they don’t as so much care regarding their cultural wealth. The Brothers Grimms changed that. The Brothers Grimms united the German people with the use of their popular collection of folklores. With the publication of the Grimms’ Fairy Tales, Germany now has something they can be proud of, something that was exclusively shared by the Germans. All a country needs to unite as one is to have something in common, and that’s what the Brothe rs Grimms provided. The brothers detailed in their folklores the ideals valued by each German.When the Germans read about these entertaining stories, they were not only entertained but their German pride has been strengthened and their nationalistic character has been awakened. The fairy tales hide in themselves the secret to overcoming the French dominion on Germany. The past was recaptured in entertaining stories of love and adventures. The brothers discovered that Germany had a charming and magical past. This belief helped keep up their enthusiasm to further write their folklores which eventually have affected and influenced the rest of Germany to instil nationalism into their hearts and minds.And the brother could not have chosen a better audience – German children. The children who were brought up with Grimms’ Fairy Tales grew to have a great sense of nationalism within them. The Grimms managed to incorporate into the child’s minds what is expected of him a s part of the Germany. Like the characters of the fairy tales he used to read, this child grew up to be virtuous, responsible, loyal and a great deal of nationalist pride. With all those characteristics, what more can a country need from its countrymen? The Grimm’s Fairy Tales have widespread influence. W. H.Austen regarded it as one of the founders of Western Literature. The Nazis patronizes it, especially among the children as it teaches them to be racist, especially in choosing their marriage partners. With this, the Allied Forces banned the stories as it promoted racial instincts. These tales were also referenced by Holocaust writers, i. e. Jane Yolen in her memoirs Briar Rose. It is simply amazing how a collection of children’s stories can have so much influence, not only in the authors’ hometown but to the rest of the world. Even up to this date, reading a Grimms’ Fairy Tale can still stir up the one’s patriotic side.One can’t help but sympathize with the major character’s plot to fight and defend what is rightfully his. The Brothers Grimms would have been proud to see how their works have affected so much. Nobody can contest the fact how much these cute stories have helped awaken the nationalistic Germans. We are fully aware that Germany is one country who really prided and regarded itself highly. The Brothers Grimms have indeed revolutionized Folk Literature. Folk stories do not only serve as bedtime stories for children but are also believed to inspire nationalists.Indeed, even a country’s fairy tales are reflective of that country’s ideologies. Brothers Grimms have found a most effective way of promoting the nationalistic attitude. They used entertaining fairy tales – subtle but sink deep in the youngest of hearts. References A. S. Byatt, â€Å"Introduction† p. xxx, Maria Tatar, ed. The Annotated Brothers Grimm. Haase, Donald, ed. 1993. The Reception of Grimms' Fairy Tales: Responses, Reactions, Revisions. Detroit, MI: Wayne State University Press. McGlathery, James, et al. 1988. The Brothers Grimm and Folktale.Chicago, IL: University of Illinois Press. Peppard, Murray. 1971. Paths Through the Forest: A Biography of the Brothers Grimm. New York, NY: Holt, Rinehart and Winston. Tatar, Maria. 1987. The Hard Facts of Grimms' Fairy Tales. Princeton, NJ: Princeton University Press. Tatar, Maria. 2004. The Annotated Brothers Grimm, W. W. Norton & Co. Ward, Donald. â€Å"New Misconceptions about Old Folktales† p 98 James M. McGlathery, ed. , The Brothers Grimm and Folktale. Zipes, Jack. 2002. The Brothers Grimm: From Enchanted Forests to the Modern World, Palgrave MacMillan.