The Period Between 1860 Into 1877, While Being Extremely Important In

The period between 1860 into 1877, while being extremely important in the development of our nation, was also an intensely revolutionary period of our country's history in the way that every single act commited during this time was a presedent and in its own way revolutionary itself. This was the first time for our nation to ever go through anything of this magnittude and importance. Everything that was happening here was happening for the very first time. And because of this our country went through a tremedously trying time in both the social and the constitutional fronts. Constitutionaly this nation went through one of the most momentous revolutions in its time. The country was now torn apart over the idea that the south had the constitutional right to decide whether or not slavery should be allowed. The south believed that as is stated in the constitution any power not delegated to the national government is solemnly reserved for the states and the people. Never had an issue been so feircely fought about that it took a nation to be torn in half and many thousands of lives lost until it was finally set right. Another prime example of this was that after the great civil war had been fought and the north declared the victors the government was almost in a state of anarchy. There were arguments every about whether the government had true constitutional means to do anything about the civil rights of Blacks, how would the southern states be reintroduced into the union, should they use Lincolns 10% plan which would allow the rebel states representation onc e more after 10% of the voters of the 1860 election had sworn eliegence to the union or the much harsher plan of the radical republicans which would only allow the states back into the union after 50% of the voters had sworn eliegence and other much harsher circumstance had been completed? There were many dispute over how to handle each and everyone of these issues that lead all the way to the presidency. The constitution was being used in ways that it never had been before, but through all this chaos and disarray it was the one thing that kept this country bound as a union. With out it we may have never survived the even more colossal social developments during this time period. During the time shortly after the civil war the nation went through a revolutionary period of hatred and disgust for each other and the government that had never seen before. Much of this was caused by a trend of corruption that seemed to have taken over many of the government positions. One such example of this was found in a man named Burley "Boss" Tweed who created a personal empire out of his profiteering and soon became a millionaire. This trend was not however limited to the low-lying government positions. It was found all the way up to the office of the vice president. It was said that when the man in the moon passed over America he had to hold his breath because of its retched smell. This in turn created a national mistrust for the government within the people. This was not the only social development that can be called revolutionary. Now that the blacks were free and at least constitutionally supposed to be equal the went through much harder times than and faced much fiercer prejeduce than before the war. Before the civil war they were slaves to their own masters. Now that the have been emancipated they were slaves to their own freedon. When the were with their masters they were dependent upon them for food and shelter. But now that they were free they had do deal with these problems on their own. And because the freedmen's bureau ,which was instituted to help the blacks make the transition from servitude into freedom, had been made ineffective by President Johnson. It was almost impossible for a black man to get a good education. Most often the former slave would have to go back to work for his old master in worse conditions and for very small pay. The time between 1860 and 1877 was revolutionary in the

San Francisco State - SAT Scores and Admissions Data

San Francisco State - SAT Scores and Admissions Data San Francisco State University Admissions Overview: As part of the application, students will need to submit scores from the SAT or ACT. While the majority of applicants submit SAT scores, the university accepts both equally. For more information, check out the schools website or contact the admissions office. Will You Get In? Calculate Your Chances of Getting In  with this free tool from Cappex Admissions Data (2016): San Francisco State University Acceptance Rate: 68%SF State GPA, SAT and ACT Score GraphTest Scores 25th / 75th PercentileSAT Critical Reading: 430 / 540SAT Math: 430 / 550SAT Writing: - / -What these SAT numbers meanCompare Cal State SAT ScoresACT Composite: 18 / 24ACT English: 16  / 24ACT Math: 17 / 24What these ACT numbers meanCompare Cal State ACT Scores San Francisco State Description: Founded in 1899, San Francisco State University takes pride in the diversity of its student body. 67% of undergraduates are students of color. Students come from 94 countries, and the school enrolls more international students than any other masters degree-granting university in the U.S. San Francisco State offers 115 bachelors and 95 masters programs. The 142-acre urban campus gives students ready access to the dining and cultural attractions of the city. In athletics, the San Francisco State Gators compete in the NCAA Division II  California Collegiate Athletic Association. Popular sports include softball, cross country, basketball, soccer, and wrestling.  SFS is one of the  23 Cal State schools. Enrollment (2016): Total Enrollment: 29,045  (25,945 undergraduates)Gender Breakdown: 44% Male / 56% Female83% Full-time Costs (2016- 17): Tuition and Fees: $6,484  (in-state); $17,644  (out-of-state)Books: $1,900  (why so much?)Room and Board: $13,882Other Expenses: $2,966Total Cost: $25,232  (in-state); $36,392 (out-of-state) San Francisco State Financial Aid (2015- 16): Percentage of New Students Receiving Aid: 76%Percentage of New Students Receiving Types of AidGrants: 69%Loans: 42%Average Amount of AidGrants: $8,817Loans: $5,441 Academic Programs: Most Popular Majors:  Biology, Business Administration, Criminal Justice, Early Childhood Education, English, Film Studies, Liberal Arts and Sciences, Psychology, Radio and Television, Speech and Rhetorical Studies What major is right for you?  Sign up to take the free My Careers and Majors Quiz at Cappex. Transfer, Graduation and Retention Rates: First Year Student Retention (full-time students): 80%Transfer Out Rate: 6%4-Year Graduation Rate: 18%6-Year Graduation Rate: 53% Intercollegiate Athletic Programs: Mens Sports:  Soccer, Wrestling, Cross Country, Baseball, BasketballWomens Sports:  Softball, Volleyball, Track and Field, Basketball, Soccer, Cross Country Data Source: National Center for Educational Statistics Admissions Profiles for Other Cal State Campuses Bakersfield | Channel Islands | Chico | Dominquez Hills | East Bay | Fresno State | Fullerton | Humboldt | Long Beach | Los Angeles | Maritime | Monterey Bay | Northridge | Pomona (Cal Poly) | Sacramento | San Bernardino | San Diego | San Francisco | San Jose State | San Luis Obispo (Cal Poly) | San Marcos | Sonoma State | Stanislaus More California Public University Information SAT Score Comparison for Cal State SchoolsACT Score Comparison for Cal State SchoolsThe University of California SystemSAT Score Comparison for the UC SystemACT Score Comparison for the UC System

Mid term constitutional law 3 Essay Example | Topics and Well Written Essays - 500 words

Mid term constitutional law 3 - Essay Example There are two varied views on the right for a person to hold and carry weapons, those who agree with this right and those against it (Bogus, 2000). Those for this view argue that individuals need guns for their self protection within the confines of their residences and that so long as they keep these weapons dismantled and not functioning, there is no cause for alarm. Others who love hunting as a sport argue that they need their guns for this purpose reasoning that as long as they are doing it strictly on their property there is no danger posed by the usage of their weapons. Consequently, both these groups of people in favor of this right maintain that owning a weapon is their fundamental freedom right (Halbrook, 1989). On the other hand, those against this view argue that the Second Amendment has no control on criminals and the mentally challenged possessing weapons; neither does it help deter people carrying weapons while entering institutions and buildings or moving around freely with a firearm. They also maintain that Second Amendment fails to provide provisions that govern weapons being sold. For instance, person may acquire an unlicensed weapon illegally and use it to commit a crime then use the second amendment right as defense alleging that his rights were infringed upon by quoting the Bill of Rights (Halbrook, 1989). The stance I find convincing is the one that is against the possession of weapons despite the reasons for ownership. For one, this is extremely dangerous especially if the weapon is kept at home, and minors have access to it (Bogus, 2000). Then there is the probability of it going off unexpectedly and injuring an innocent person. There have been several cases in learning institutions where innocent students and teachers have been killed or injured by a student carrying a weapon to school (Halbrook, 1989). Further still, there are no clear provisions that govern the weapons being sold. I believe that rights should also have some

Personal Statement + Answering a Question Example | Topics and Well Written Essays - 750 words

+ Answering a Question - Personal Statement Example I was overwhelmed with joy after securing admission into North Seattle College to study for an Associate Business (AB) degree. My success in high school meant a lot to me and to my family as well. It was the first time I was in overseas country after securing a scholarship to study abroad away from home. I worked so hard to ensure I triumphed in the business school in order to secure a possible scholarship to further my studies. However, a fateful event happened one early morning as I was rushing to class to prepare for my first end of semester exam. I had just alighted the bus and was preparing to cross the road and walk into the school compound when I saw a speeding SUV screech to a halt at the forefront of a computer sales shop. Two masked gunmen emerged from the vehicle and ran into the shop. A few moments later, they ran back into the vehicle and sped off. Whereas I could figure out a robbery had just happened, I could not imagine that the shop attendant was already injured. It was a critical moment for me because I was torn between rushing to school and prepare for my exams or help the badly injured person. In a flash of a second, I remembered a court case where a volunteer had been mistaken as a murderer because his fingerprints were found on a dead man’s body. The case had lasted for more than five years until the man was finally cleared of the murder charges and the real murderers put in jail. However, I could see the collapsed man was bleeding profusely and had lost consciousness. Being an early morning, there was hardly anybody passing by. At that moment, I had two choices, save a life and compromise my grades in college or just run to school and leave the man helpless. Additionally, I could think of the after effects of helping the person. The police would take my valuable college time through endless interrogations, as I would be a key witness. I resolved to

The Criticism Of The Modigliani And Miller Hypothesis Finance Essay

The Criticism Of The Modigliani And Miller Hypothesis Finance Essay Capital structure has a major implication to the ability of firms to meet the various needs of stakeholders. There were various studies carried out on capital structure and major development on new theories for optimal debt to equity ratio. The first milestone on the issue was set by Modigliani and Miller(1958) through which they presented in their seminal work two important propositions that shaped the economic theory behind capital structure and its effect on firm value. The Modigliani and Miller hypothesis is identical with the net operating income approach. At its heart, the theorem is an irrelevance proposition, but the Modigliani-Miller Theorem provides conditions under which a firms financial decisions do not affect its value. They argue that in the absence of taxes, a firms market value and the cost of capital remain invariant to the capital structure changes. In their 1958 articles, they provide analytically and logically consistent behavioural justification in favour of their hypothesis and reject any other capital structure theory as incorrect. The Modigliani-Miller theorem states that, in the absence of taxes, bankruptcy costs, and asymmetric information, and in an efficient market, a companys value is unaffected by how it is financed, regardless of whether the companys capital consists of equities or debt, or a combination of these, or what the dividend policy is. Miller (1991) explains the intuition for the Theorem with a simple analogy. Think of the firm as a gigantic tub of whole milk. The farmer can sell the whole milk as it is. Or he can separate out the cream, and sell it at a considerably higher price than the whole milk would bring. He continues, The Modigliani-Miller proposition says that if there were no costs of separation, (and, of course, no government dairy support program), the cream plus the skim milk would bring the same price as the whole milk. The main content of the argument is that increasing the amount of debt (cream) lowers the value of outstanding equity (skim milk) and selling off safe cash flows to debt-holders leaves the firm with more lower valued equity,thus keeping the total value of the firm unchanged. Furthermore, any gain from using more of what might seem to be cheaper debt is offset by the higher cost of now riskier equity. Assumptions: The Modigliani-Miller theorem can be best explained in terms of their proposition 1 and proposition 2. However their proposition are base on certain assumption and particularly relate to the behaviour of investors, capital market, the actions of the firm and the tax environment. According to I.M Pandey(1999) the assumptions of the Modigliani Miller theorem is based on: Perfect capital markets These are securities (shares and debt instruments)which are traded in the perfect capital market situation and complete information is available to all investors with no cost to be paid. This also means that an investor is free to buy or sell securities, he can borrow without restriction at the same terms as the firm do and he behave rationally. It also implies that the transaction cost(cost of buying and selling securities) do not exist. Homogeneous risk classes Firms can be group into homogeneous risk classes. Firms would be considered to belong to a homogeneous risk class if their expected earnings have identical risk characteristics. It is generally implied under the M-M hypothesis that firms within same industry constitute a homogeneous class. Risk The risk of the investors is defined in terms of the variability of the net operating income(NOI). The risk of investors depends on both the random fluctuations of the expected NOI and the possibility that the actual value of the variable may turn out to be different than their best estimate. No taxes In the original formulation of their hypothesis, M-M assume that no corporate income taxes and personal tax exist. That is, they are both perfect substitute. Full payout Firms distribute all net earnings to the shareholders, which means a 100% payout. Proposition 1: the market value of any firms is independent of its capital structure. M-M(Modigliani and miller) argue that for firms in the same risk class the total market value is independent of the debt-equity mix and is given by capitalizing the expected net operating income by the rate appropriate to that risk class. This is their proposition 1 and can be expressed as follows: Value of firm= Market value of equity + Market value of debt = V= (S + D) = = Where V = the market value of the firm S = the market value of the firms ordinary equity D = the market value of debt = the expected net operating income on the assets of the firm = the capitalization rate appropriate to the risk class of the firm. Also, M-M extended proposition 1 by arguing that there is a linear relationship between cost the cost of equity and the financial leverage. Financial leverage is measured by the Debt to Equity ratio(D/E).The cost of equity capital can be denoted by the following relationship: = + ( ) DE Where denotes cost of equity capital; denotes overall cost of capital and denotes cost of debts of the firm L . Based on the assumption that there is no corporate tax then is equal to the rate of interest on financial leverage employed by the firm. The diagram below shows the cost of capital under the Modigliani and Miller proposition 1.http://htmlimg3.scribdassets.com/2vohdy2ptsw5n23/images/12-7ef603c995.jpg Example: Example 1 Example 2 DE 2/3 1 0.18 1.18 0.10 0.10 23.3% 26% It can be seen that due to an increase in financial leverage the risk premium of equity shareholders have increased from (23-18) = 5% to (26-18) = 8 %. We can also verify for the , which is given below: When debt equity ratio is 2:3 + = 18% The similar result is obtained when DE is 1. + = 18% It can be concluded that the overall cost of capital, which is the weighted average cost of debt and cost of equity, is unaffected even if the degree of financial leverage is increased. As per the M-M model, however , any benefits arising by substituting cheaper leverage for more expensive equity are offset by an increase in both the costs as reflected on the following graph. Arbitrage process: Arbitrage process is base on the principle that Proposition 1 is based on the assumption that 2 firms are identical except for their capital structure which cannot command different market value and have different cost of capital. Modigliani and Miller do not accept the net income approach on the fact that two identical firms except for the degree of leverage, have different market values. Arbitrage process will take place to enable investors to engage in personal leverage to offset the corporate leverage and thus restoring equilibrium in the market. Criticism of the Modigliani and Miller hypothesis: On the basis of the arbitrage process, M-M conclude that the market value of firms are not affected by leverage but due to the existence of imperfections in the capital market, arbitrage may fail to work and may give rise to differences between the market values of levered and unlevered firms. The arbitrage process may fail to bring equilibrium in the capital market for the following reasons: Lending and borrowing rates differences: Based on the assumption that firms and individuals can borrow and lend at the same rate of interest does not hold good in practice. This is so because firms which hold a substantial amount of fixed assets will have a higher credit standing, thus they will be able to borrow at a lower rate of interest than individuals. Non-substitutability of personal and corporate leverages: It is incorrect to say that personal leverage and corporate leverage are perfect substitute because of the existence of limited liability a firms hold compare to the unlimited liability of individuals hold. For examples, if a levered firm goes bankrupt, all investors will lose the amount of the purchase price of the shares. But if an investor creates personal leverage, in the event of a unlevered firms insolvency, he would lose not only his principal in the shares but also be liable to return the amount of his personal loan. Transaction costs: Transaction cost interfere with the working of the arbitrage. Due to the cost involved in the buying and selling of securities, it is necessary to invest a larger amount in order to earn the same return. As a result , the levered firm will have a higher market value. Institutional restrictions: Personal leverage are not feasible as a number of investors would not be able to substitute personal leverage for corporate leverage and thus affecting the work of arbitrage process. Corporate taxation and personal taxation: M-M theory is also criticize for the reason that it ignores the corporate taxation and personal taxation. Retained earnings: It also ignores personal aspect of financing through retained earnings. In real world , corporate will not pay out the entire earnings in the form of dividends. Investors willingness: Investors will not show much interest in purchasing low rated issued by highly geared firms.

Impact of Recess on Classroom Behavior Essay -- essays papers

Impact of Recess on Classroom Behavior When comparing the amount of time American children spend at ‘recess’ during the school day, you will see, that it is considerably less than the amount of time given by other countries. Japanese schools typically have a 10-20 min recess period between 45-min lessons or 5-min breaks between lessons, with a long play period after lunch. In Taiwan, schools typically have many recess periods during the day; children are also given 5-6 min of transition after recess in which to settle down. British schools have three 15-min recess periods throughout the day and 80-90 minutes at lunch. Many researcher believe that this recess period is key to classroom instruction. Research was done to determine the effect of a recess break on classroom behavior; specifically working, fidgeting, and listlessness. A southern urban school district with a ‘no recess policy’, granted permission for two grade 4 classes to have recess once a week so that behavior on recess days could be compared to that of behavior on non-recess days. Because recess was not in the normal daily schedule, the students would not anticipate it, and this anticipation could not effect the results. The days for recess were chosen randomly so that a pattern would not develop and be anticipated. The study looked at 43 children, 18 boys and 25 girls, from a variety of backgrounds; socially, ethnically, and economically. The school was located in middle class-upper middle class neighborhood and serves neighborhood children as well as children bussed in from transient housing. This quantitative study explained very clearly the types of children that were to be studied, the specific controls that would be used, and the results that were being anticipated. Researchers conducting this test were looking for the effectiveness that recess has on the student, if any. The children were placed into two research groups; A and B. Classroom A’s normal morning schedule is as follows. 8:00-9:30 Instruction in their own classroom 9:30-11:15 Mathematics and science in another classroom (where they were observed) 11:15-12:00 Instruction in their own classroom On the days when the children had recess, they took a break from mathematics and science to go outside from approximately 10:30-10:50. Classroom B’s normal morning schedule is as foll... ...gnificant research for educators to know and that if used properly it could, and would, increase the learning in a classroom. Most public schools have a period set aside each day for recess that coincides with the lunch schedule. This proves that schools are taking advantage of the recess method. I think that the ‘anticipation factor’ is key to giving recess the greatest impact possible. Schools would have to devise a schedule that would shift the recess periods around so students would be unaware of the days scheduled recess time. This would be dependent on teacher and administrator cooperation. I believe that the research done has ‘real world’ significance to teachers and students alike. The changes that would have to take place are minimal and the effects that would be achieved are obvious from the start. Teachers everywhere would benefit from using this information in the day to day running of their classrooms by saving countless minutes trying to keep the class on task. We have learned that the most important parts to a lesson are the ‘first’ and ‘last’ facts. When you add recess into the daily schedule you have another ‘start’ and ‘finish’ for kids to remember.

General Electric Medical Systems

1. Q 1. What is the underlying logic behind the global product idea? What are the costs and the benefits that are expected? Global Products Company(GPC) strategy is based on the following underlying logical premises: a. Markets for medical equipment are systems are becoming increasingly global in nature. They are no more restricted to only the developed First and Second World countries having advanced healthcare systems. The burgeoning market is that of emerging and developing economies. Thus, there is a need to meet the growing demand for affordable medical equipment in these economies and retain its market leadership b. Needless to say that low-cost leverage is the only way to win a large chunk of this new pie and therefore GEMS has to shift to a cost-efficient strategy c. GEMS realised the potential of tapping production & sourcing centres where there was parity in output quality and labour skill-sets but overall cost was much lower. d. The GPC strategy involved sourcing quality components from the most cost-effective suppliers and establishing the manufacturing bases in most cost-effective geographies. e. As most of the GEMS manufacturing involved sourcing complicated components from across the globe to two-three manufacturing/assembling centres and then distributing across the globe from these centres, the challenging aspect of GPC was in the development of intermediaries along the supply chain to ensure un-interrupted supply & production flows. The following are some of the costs and benefits of the above mentioned strategy of globalizing production to facilitate a low cost production: Benefits: 1. As materials form 80% of the manufacturing cost, sourcing of materials from low-cost countries would enable a significant amount of saving. The key would be to develop long-term relationships with local suppliers and once that is done, it means unparalleled cost savings in future. 2. Having manufacturing centres in low-cost-labour countries would also enable a substantial cost reduction as labour formed 20% of the manufacturing cost. 3. Now, as labour and materials form almost 85% of the total variable cost, substantial reduction in both would enable GEMS to have a cost reduction to he tune of approximately 30% in the total cost. It has to be noted that the incremental fixed cost in case of GEMS was close to nil (Exhibit 7). Costs: 1. In addition to the fixed costs that had to be incurred additionally to enter into the low-cost countries, other GPC-specific costs included inventory, logistics, documentation, and import- duty costs relating to moving materials and products around the world. 2. Developing a long-standing relationship with new suppliers in these low-cost countries was another area that required considerable allocation of time and effort. . Reducing investments in developed countries, from where bulk of their demand came, meant deteriorating relationship and loss of concessions from these countries. 4. Costs related to hiring less experienced workforce in these new locations, and human toll on the workforce as a result of long trips from home for the employees from both old locations and headquarters. If we analyse GEMS’s strategy mentioned in the body above using the AAA model, we can conclude that it is primarily using the arbitrage strategy of globalization with some elements of aggregation. Q. 2 Should the global product philosophy be changed or altered to suit the China market? Please identify both sides of the argument and take a position explaining the rationale behind your stand. Does it make economic sense? The choice between continuing with the current Global Product Concept(GPC) and adopting â€Å"In China for China† for the low end products is a very difficult call for GE managers. On one hand there are several advantages of adopting â€Å"In China for China† such as: In China there is a huge growth potential for medical diagnostics and as of now it is the world's third largest market for the same. By adopting â€Å"In China for China†, GEMS can design and customize products according to local needs in China and further the GE managers believe that China being a nationalistic country, domestically produced products will have greater demand than imported ones. There are other factors like low incremental fixed cost for moving facilities to China, avoidance of duties and tariffs, availability of cheaper local labor and low transportation cost all of which would help in cost saving for GEMS. On the other hand in order to adopt â€Å"In China for China† strategy GEMS will have to break the GPC concept which may result in ecreased quality due to lack of readily available skilled labor and reduced cost cutting efficiency. Also the management will have to address the challenge of development of suppliers which may result in inefficiency. GEMS do not have good history of managing joint ventures because of the unethical practices of the partner which eventually lead GEMS a cquiring the partners. As understood from the case there are two different market segments in China namely the high end markets served which is served only through imports and the low end markets which is served through domestic production. The adoption of â€Å"In China for China† strategy will result in the company distancing itself from high end customers which will end up in losing the revenue for the business to high end customers. Considering all these factors we suggest that it is better for GEMS not to adopt â€Å"In China for China† strategy and to stay with Global Product Concept. Q3. Should GEMS be aggressively pursuing genomics and healthcare-IT related opportunities in addition to or instead of the China opportunity? What priorities would you suggest? Explain your reasoning carefully? No doubt, being third largest healthcare market with tremendous growing potential in future, China is a lucrative market that GEMS can’t easily neglect. But at the same time, with the growth of technological advancement in the field of healthcare, genomics and healthcare-IT related products and services going to have an important role in the coming decades and the companies having those expertise will bound to dominate the global healthcare market in future for sure. So we think that GEMS should take both the China opportunity and the genomics and Healthcare –IT related opportunities seriously. We believe that GEMS has the capacity to look at both the opportunities simultaneously obviating the need to sacrifice one for the other. The company’s strong financial condition along with its strong emphasis on R&D would help the organization in meeting both the objectives. China Opportunity : But in doing so GEMS should initially put more focus on the China market than the R&D on genomics and healthcare-IT projects. Because it is very important for GEMS to catch hold of the China’s market before other competitors like Siemens, Philips. Also the gestation period of genomics and healthcare related projects are too high usually 5-10 years and in such a situation to maintain a good balance sheet GEMS should have a good market share in China. The low end product accounts for 20% of the global sales and to succeed in the low end , presence is Chinese market is a must for any company. Secondly, The China opportunity requires GEMS to shift the production from the other parts of the world to China. The incremental cost associated with that shift in production process is a mere $1 million which should not be an obstacle in GEMS China policy. So GEMS can easily do that without worrying too much about the financial aspects. Genomics and healthcare-IT related opportunities Genomics and preventive health care is going to play a deciding factor in coming decades. But these projects are far more complex than what GEMS did till now. Genomics requires not only technological know-how but also expertise on biomedical science which presently GEMS lacks off. So for better output from these R&D, Tie-up with pharmaceutical companies that develop viruses and chemical reagents would help GEMS to understand and increase their expertise on bio medical science. Collaboration with leading universities around the world on researches on topics relevant to these projects would also help GEMS. Funding for these researches, Supplying machines and tools to support those researches would help GEMS in getting good responses from R&D teams around the world. So with the steps mentioned above and few modifications to the present system, GEMS can take both the opportunities