Corporation Rules and Regulations free essay sample

The group had been liable for 70% of Australian asbestos consumption. However, in February 2007, ASIC had started to impose civil proceedings against James Hardie, the directors and the officers, as ASIC alleged that JHIL and both executive and non-executive had breached their statutory duty. This short research report had outlined the role of ASIC and various penalty that ASIC can impose under Corporation Act 2001. Besides that, we will also discuss the position that ASIC had held from 2004 until current date in relation to the directors of Hardie group. At last, I had provided a summary of the ASIC’s media release that had been established on 13 May 2011, and indentified the element that ASIC is hoping the High Court to uphold. The Role of ASIC: The Australian Security and Investment Commission (ASIC) is a commonwealth statutory corporation that set up by Australian Securities and Investments Commission Act, and it is a regulator which in charge of monitoring the Australia’s Corporation, products, markets and financial services (Lipton, Herzberg and Welsh 2012, p. 736). On the other hand, ASIC is also a commonwealth authority that is responsible for governing the Corporation Act. ASIC Act provided that ASIC owned such powers and function that endowed by the corporation legislation to ASIC. Thus, what exactly is the corporation legislation means? Under Section 5(1), they had interpreted the term ‘corporation legislation’ to mean the ASIC Act and the Corporation Act (Baxt, Finnane and Harris 2012). Besides that, ASIC also owned the power to initiate prosecution for criminal offences or apply for civil penalty orders if they believed that there’s a contravention of the law. ASIC is also able to ban a director from managing a company for a certain period if they contravened their general duties. For instance, in the case of ASIC v Stephen William Vizard [2005], the court held that as a director of Telstra, Mr. Vizard has contravened the Corporation Act: Section 183, the duty of director to use the information in an improper purpose, and gain advantage for himself, thus, the court order pecuniary penalties and a disqualification order against Mr. Vizard (Price Waterhouse Coopers 2012). As a result of that, ASIC actually played a significant role in relation to initiate prosecution against companies directors for misconduct in order to ensure corporation and those related parties are complied with the corporation legislation. Now, let us look at the duties of a corporation’s directors under Corporation Act and what penalty can ASIC can imposed if the directors do not comply with the Corporation Act. The duties of a company’s director: The term ‘director’ is a person who is appointed to manage control or govern the affairs of a corporation. Under Section 9 definitions, the term directors extend to a person who is not formally appointed as a director, but they act as a director or whose instruction or whishes are followed customarily (Baxt, Finnane and Harris 2012). In chapter 2D. 1 of the Corporation Act, from Section 180 until Section 184, it dedicated that the principle duties of a director. They can be listed as followed: †¢Section 180 stated that a director or other officer of a corporation must exercise their power and discharge the duties in a manner with care and diligence (Mclnnes Wilson Lawyers 2011). Section 181 declared that, a director should exercise their power and discharge their duties in good faith where it’s in the best interest of the corporation and for a proper purpose (Mclnnes Wilson Lawyers 2011). †¢Section 182 stated that, a director must not improperly use their position to obtain an advantage for themselves or other or cause lesion to the company. (Armstrong Lawyers 2007). Having understood the general duties of a company’s director, we can now look at the penalties that ASIC could impose if the directors had breach their duty or do not comply with the Corporation Act 2001. The penalties: As we mentioned before, the Australian Securities and Investment (ASIC) is a national body that’s responsible to govern the corporation legislation and securities regulation in Australia. ASIC obtained the power to investigate potential contravention of the corporation law and significant penalties can be imposed on the directors who had failed to perform their duties. The section of the Corporation Act attracting civil penalties under Section 1317J (1), ASIC can apply to the court for a: †¢Ã¢â‚¬ËœDeclaration of contravention’ †¢Ã¢â‚¬ËœPecuniary penalties ‘ †¢Ã¢â‚¬ËœCompensation order’ (Baxt, Finnane and Harris 2012) 1)Pecuniary penalty order: The court may order a pecuniary penalty of up to $200,000 to a director who breaches his duty under Corporation Act. Once the declaration of a contravention by the person had been made (Section 1317E), and the contravention is a corporation penalty (Price Waterhouse Coopers 2012). (2)Compensation order: Under Section 1317H, the court may order a person to compensate the company where loss is suffered because the person had contravened a corporation civil penalty provision (Price Waterhouse Coopers 2012). (3)Disqualification from managing a company: The Corporation Act Section 206C conferred ASIC the power to disqualify the directors from managing a company for a certain periods of time due to the contravention of their general duties (Price Waterhouse Coopers 2012). This concept can be illustrated by the following case: ASIC v Vines [2006], it had been found that Mr. Vines had breached his duty of care and diligence by misleading and an inadequate disclosure of material information to the board of directors and failure to ensure the statement was incorrect. The board was relying on Mr. Vines to make complete disclosure to all material matters. The court held that, as the director had breach their duties of care and diligence b providing fault statement, thus, he had breach civil penalty provisions. The court decided that, Mr. Vines will have to receive a 3 years disqualification, pay a pecuniary penalty of $100,000 and 22% of the ASIC cost (Price Waterhouse Coopers 2012). ASIC’s position that held from 2004-2012: The position of ASIC held from 2004-2012 in relation to the directors of James Hardie case had not altered. Why would I say that? Below is the details of ASIC’s position in relation to the directors of James Hardie: On he 27th February 2004, the NSW government had authorized Mr. David Jackson to conduct a special commission of Inquiry into James Hardie newly founded foundation-Medical Research and Compensation Foundation (Australian Council of Trade Union 2007). At first instance, it had been found out that, the foundation was in fact had a nearly 1. 5 billion of shortfall, and a media release saying that the MRCF is ‘fully founded’ to meet all the current and future asbestos claims to the Australia Securities Exchange through the approval of the board directors during the directors meeting. Thus, ASIC had alleged that JHIL had made a misleading and deceptive statement. As a result of that, it had raised a principle issue for the board of directors of JHIL, whether or not they had knowingly voted in favor of releasing the ‘misleading’ announcement to ASX (Alcorn 2011). In addition, the sub issues that had been raised are under Section 180(1), was a general counsel can be treated as an officer? The Original Decision: In April 2009, ASIC held that all of the executive, non-executive and company officer had breached their duty of care by approving the media statement to be made in ASX. In particularly, ASIC had alleged that, the company chief executive officer and company secretary or general counsel, Mr. Macdonald and Mr. Shafron had breached the director’s duty of care and diligence under Section 180(1) as they had failed to advice the board to disclose the DOCI information to ASX (Hargovan 2009). Thus the court had imposed penalties on both of them: †¢Mr. Macdonald was disqualified from managing a company for 15 years and a pecuniary penalty of $350,000. According to the Corporation Act 2001, Section 180(1), an officer obtain the power in decision making which affected the whole or substantial part of a business, thus, Mr, Shafron had a positive obligation to advise the board of the disclosure of DOCI. In relation, he was given a disqualification order for 7 years and a pecuniary penalty of $75,000 (Baxt, Finnane and Harris 2012). †¢Mr. Morley had been banned from the management for 5 years and paid a pecuniary penalty of $35,000. †¢However, all of the seven former non-executives directors were disqualified from management for 5 years each and a pecuniary penalty of $30,000. The Appeal: In December 2010, the NSW court of Appeal overturned the finding in relation to liabilities and penalties of the non-executives directors, the CFO and secretary general counsel of James Hardie Industries Ltd as ASIC had failed to prove that the ASX media statement was approved by the board, and as the appellate court had established that some of the directors had acted honestly without any intention to gain benefit from themselves, which is under Section 1317 of the Corporation Act 2001 (Hargovan 2011). Thus, amendment had been made in relation to lessen the liabilities and penalty of the directors and officer can be found in later section (summary of media release). Nevertheless, it’s worth noting that Mr. Shafron, Mr. Morley and ASIC had filled application for special leave to appeal the decision of the Court of Appeal. In May 2011, ASIC had issued media release that stated that they had granted a special leave to appeal the James Hardie decision. ASIC didn’t change their position in relation to the directors of James Hardie and they are still seeking to uphold the finding that the directors of James Hardie had breached their duty by approving the ASX announcement made by the company (ASIC 2011). Media Release’s Summary: This article talk about the ASIC had granted a special leave from the High Court to appeal the decision of the New South Wales Court of Appeal in the James Hardie matter in relation to the former non-executive directors and the former company secretary and general counsel of James Hardie Industries Limited. The ASIC has actually filled his application in the High Court on 14 January 2011. The purpose of ASIC to strive for a special leave is they are seeking clarification about the nature, content and scope of ASIC’s obligation, while the Court of Appeal had concluded that ASIC had breached their duty of fairness, as they failed to call the witness Mr. Rob in the trial judge of James Hardie case (ASIC 2011). The failure to call the witness, Mr.Rob had make a tremendous impact on the decision of the court, as they cannot attest the non-executive directors had voted in favor of the ASX announcement’s draft (Thomas 2011). As a result of that, ASIC is hoping the High Court to uphold the finding if the trial judge that the directors had acted in favor in regards of the ASX announcement made by the company (ASIC 2011). Decision: As a result of that, in August 2009, the NSW Supreme Court had imposed pecuniary penalties on JHIL and all the non-executive officers and executive officers, plus a disqualification order on them for an extensive period.

The Conquest Of Mexico Research Paper Example

The Conquest Of Mexico Paper The Conquest of Mexico The Spaniards, in the conquest of the Mexican people, relied Just as heavily on chance and luck as they did on their on their skills on diplomacy and military prowess. The sicknesses that the Spaniards brought over with them in addition to the political situation that the Mexica had established with their neighbors is what really brought about the downfall of the great Mexican civilizations. In addition to these factors there was also the fact that up to this point in history the Americas have had very little in the way of contact from the outside world and consequently had next to o knowledge of the civilizations across the sea. When they first encountered the Spanish Conquistadors they held the belief that they were from the gods and that Cortez was the reincarnation of one of their gods and as such welcomed them with open arms. When you take into consideration all of the factors mentioned above you will see that the conquest of Aztecs and other Native American civilizations by the Spanish was accomplished by three major factors: diplomacy, military prowess, and no small amount of luck. The first of those factors is the diseases that the Europeans brought across the Atlantic with them. The most notable disease that caused the majority of the deaths among the Native American people was the pestilence of smallpox. We will write a custom essay sample on The Conquest Of Mexico specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Conquest Of Mexico specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Conquest Of Mexico specifically for you FOR ONLY $16.38 $13.9/page Hire Writer An account of Just how devastating smallpox was among a populace whose immune systems had no prior experience with or any way to combat European diseases can be found in book twelve of the Florentine Codex. Before the Spaniards came to us, first an epidemic broke out, a sickness of pustules. It began in Tepeilhuitl. Large bumps spread on people; some where completely covered. They spread everywhere, on the face, the ead, the chest, etc. [The disease] brought great desolation, a great many died of it. Lockhart, 1993, 190) The account goes on to describe the horrors that the disease had left behind in the lives of those who were lucky enough to survive. Many of the survivors had been left horribly scared or even blinded if they were unlucky enough for the disease to spread into their eyes. The main reason that these diseases had such a devastating effect on the natives and not on the Spaniards is the fact that the natives had very little in the way of domesticated animals. The Europeans had for housands of years been in possession of a great many domesticated animal, such as pigs, horses, chickens, and cows, and it is these animals that are usually the incubators and carriers of a great many deadly diseases. Since the Europeans had been around them for so long their immune systems had adapted to the situation and were able to combat the diseases. The Aztecs had no such advantage. The deadly diseases of Europe were something completely new to them and their immune systems had no way to combat them. The Spaniards had no compunctions about taking advantage of the situation in their conquest of Mexico. Another huge factor that the Spanish had in their favor was the superior weapons that they had at their disposal and huge advantage that the weapons gave them in battle. The Aztec people were severely limited in the type of weapon that they could wield in battle due to the simple fact that their civilization had never discovered the created were made from wood and stone. One such weapon that the majority of the Aztec warriors had in their possession is described in the book titled Victors and Vanquished. Their primary weapon was a kind of wooden sword set with obsidian lades designed for slashing and incapacitating rather than killing an opponent. (Schwartz 2000 1 1) The weapons of the Aztec warriors were all similar to that in that they were designed to incapacitate instead of kill. The entire reason for the Aztecs to be at war was the capture of prisoners that they could sacrifice to their gods. The Spaniards were not like that. Their weapons were designed for one purpose, to kill. Many of those weapons, such as the musket or crossbow, had a much greater range than any of the weapons that the natives could field in battle and they had no answer t all to the power of the Spaniards canons. The one factor that made all of every weapon that the Spaniards had at their disposal superior to any Aztec weapon is the simple fact that they were made of steel. There was one obstacle that the Conquistadors had that would prevent them from overwhelming the Aztecs even with their superior weaponry. That aforementioned obstacle was the fact that the Spanish only numbered in the hundreds while the Aztecs had their entire civilization backing them. The way that they were able to overcome that obstacle was through he art of diplomacy. The constant invasions and taking of prisoners by the Aztecs for their human sacrifices had earned them many enemies among their neighbors. When Spain began its exploration of the new world those very same neighbors saw their chance to finally bring about the destruction of their oppressors. An example of this can be found in a Spanish account of the invasion of Chapultepec. The war was sustained fiercely on both sides, since on our side we had the help of many Tlaxacalan warriors (Aguilar, 1993, 196) The constant warfare and human sacrifice hat the gods of the Aztecs demanded of them had finally helped to bring about the downfall of that great civilization. There was no one thing that brought about the downfall of the Mexican people. It was a conglomeration of events that finally toppled the great civilizations. The sicknesses and plaques that the Europeans brought over with them played no small part. The way in which the natives waged war was also a significant factor. The factor that really broke the back of the Aztecs was the constant need for human sacrifice. In their dealings with their neighbors they had created the oundation that Spaniards used for the negotiating of allies in the conquest of Mexico. In this collision of two previously separate worlds it was the Spanish who came out as the victor and the Aztecs as the vanquished. Aguilar, Francisco De. Eighth Jornada. In Victors and Vanquished, edited by Stuart B. Schwartz, 197-198. Boston: Yale University, 2000 Sahagun, Fray Bernardino De. Florentine Codex In Victors and Vanquished, edited by Stuart B. Schwartz, 190. Boston: Yale University, 2000 Schwartz, Stuart B. Victors and Vanquished. Boston: Yale University, 2000.

Bad Effects of Vitamin Excessive Intake Essays

Bad Effects of Vitamin Excessive Intake Essays Bad Effects of Vitamin Excessive Intake Essay Bad Effects of Vitamin Excessive Intake Essay Too much of a good thing is an adage that can apply to vitamins. The body needs vitamins to function properly, but high doses of certain vitamins can be toxic, especially fat soluble vitamins that the body stores for long periods of time. Water Soluble Vitamins Water-soluble vitamin toxicity is rare because the body does not store water-soluble vitamins and excess amounts are usually excreted in urine. Side effects associated with water-soluble vitamins occur due to intake of extremely high doses.Peripheral neuropathy, a nerve disorder that can cause numbness and pain in the extremities, is a possible side effect of too much vitamin B6, according to Merck. Medline Plus says more than 2,000mg of vitamin C a day is not recommended because it can upset the stomach and cause diarrhea. Vitamin A Vitamin A is a fat-soluble vitamin that supports vision, immunity, genes, growth, development and production of red blood cells. Vitamin A from food sources is not harmful in large amounts but may cause skin discolorations.However, supplemental vitamin A can be toxic. According to the Linus Pauling Institute at Oregon State University, acute vitamin A toxicity is rare but can cause nausea, headache, fatigue, loss of appetite, dizziness, dry skin and swelling of the brain. Side effects of chronic vitamin A toxicity include dry and itchy skin, loss of appetite, headache, swelling of the brain and bone and joint pain. Vitamin D Vitamin D is a fat soluble vitamin that the body needs for bone formation, calcium absorption and immune function.Too much vitamin D can lead to hypervitaminosis D, according to the Mayo Clinic. Side effects of hypervitaminosis D include calcium buildup, loss of appetite, renal failure, bone calcifications, weakness, nausea, vomiting, kidney stones, confusion and abnormal heart rhythms. Side effects of too much vitamin D are treated by discontinuing supplementation, restricting calcium intake and, in severe cases, hospitalization. Vitamin E Vitamin E is a fat-soluble vitamin and antioxidant that fights free radicals, harmful substances that damage the body.According to the Merck Manual, too much vitamin E can cause bleeding. Medline Plus also mentions that the American Heart Association made a statement in 2004 that more than 400 IU of vitamin E a day may increase the risk of death. Multivitamins Multivitamins are made up of a variety of water-soluble and fat-soluble vitamins and are often prescribed for people who need extra nutrients or are unable to get enough vitamins through diet alone. According to Medline Plus, various ingredients in a multivitamin can be toxic in high doses.Side effects of too much multivitamin include cloudy or frequent urination, dry and cracked lips, eye irritation, sensitivity to light, abnormal heartbeat, pain or weakness in joints, muscles and bones, cognitive and mood changes, itchiness, rash and hair loss. Intestinal side effects of too much multivitamin are constipation, dia rrhea, nausea, vomiting and stomach pain. Effects include(VA ) * Angular cheilitis * Birth defects * Coarse bone growths * Excessive skin dryness/peeling (desquamation) * Hair loss Intracranial hypertension (see  Idiopathic intracranial hypertension[1]) * Liver  problems * Premature  epiphyseal  closure[2][3][4][5][6] * Reduced  bone mineral density  that may result in  osteoporosis * Skin discoloration Symptoms of vitamin D toxicity include: * Dehydration * Vomiting * Decreased  appetite * Irritability * Constipation * Fatigue * Muscle weakness * Metastatic calcification  of the soft tissues[2] An excess of vitamin D causes abnormally high  blood  concentrations of  calcium  (hypercalcemia), which can cause overcalcification of the  bones,  soft tissues,  heart  and  kidneys.It can also damage the kidney and produce  kidney stones[citation needed]. In addition,hypertension  can result. [3]  Ongoing research indicates antagonism with oil sol uble  menatetrenone, MK-4, an internally transported natural form of  vitamin K2, which is associated with bone formation and calcium retention in the bones. [citation needed] Hypervitaminosis D symptoms appear several months after excessive doses of vitamin D are administered.In almost every case, a low calcium diet combined with  corticosteroid  drugs will allow for a full recovery within a month. - Symptoms and presentation[edit] * Blotchy skin * Increased bleeding * Increased  triglycerides * Decreased production of thyroid hormones * Decreased activity of  vitamin K * Increased hemorrhaging from aspirin or anti-coagulant medications * 29. Hypervitaminosis K Causes excess clotting of the blood leading to thrombosis and potential sudden death should clots form in brain or heart

Osama Bin Laden Research Paper Essays

Osama Bin Laden Research Paper Essays Osama Bin Laden Research Paper Essay Osama Bin Laden Research Paper Essay Osama Bin Laden; the mastermind of 9/11 Christian Hanke December 21, 2012 World History Period 1 Osama Bin Laden changed the world on September 11, 2012, when he orchestrated the 9/11 bombings on the World Trade Center in New York City. He has also formulated many other attacks including the October 2000 attack on the USS Cole, and attacks on the US embassies in Nairobi, Kenya, and Dar es Salaam, Tanzania in 1998 (Encyclopedia of World 1).Osama Bin Laden had a negative influence on societies, economies, and religion throughout the world because of his actions in masterminding many radical terrorist attacks, and because he created and funded al-Qaeda. Osama Bin Laden had a dramatic effect not only on the society of the United States but also worldwide. These radical attacks have resulted in changes to the way society conducts business, travel, immigration, and most importantly, how people view and trust each other. Simply put, it has in many ways resulted in a drastic change to many p eople’s behaviour. The attacks of 9/11 resulted in increased security exponentially.Read also   ANALYSIS OF OUR SECRET BY SUSAN GRIFFINAfter these attacks, airport security was amplified. Other security measures were implemented such as every time someone flies they are required to undergo body scanning; they have to remove shoes and belts, and all liquids over three point four ounces must be packed in checked luggage (Johanson 13). All these measures are now enforced to ensure maximum safety and security in airports. Instead of being able to breeze through the airport and board their flight, people are required to be there two hours early, which has become a necessary inconvenience and a time consuming practice.After the 9/11 attacks, people were very hesitant to fly because they were afraid. To help ease the anxiety of flying and perform the safety precautions, the United States created the Transportation Security Administration. The TSA hired over 50,000 people to work in airports across the country and have found to date over fifty million prohibited items, 5,000 of them being firearms (Johanson 7-10). Since Osama Bin Laden’s various attacks, some airlines like Canada 3000 and Swiss Air were on the verge of going bankrupt.To counteract this, the airlines crammed more seats in their airplanes, cut the complimentary food service, and reduced flights (Johanson 22). This inconveniences the passengers because there is less space and comfort on board and with less flights, not everyone may get a seat on their flight. Osama Bin Laden had a direct impact on the way we travel, has put anxiety in the minds of innocent people wanting or needing to travel on an airplane, and caused changes in the way commercial airlines conduct businesses.Osama Bin Laden has affected society worldwide through the lives lost in 9/11 and America’s war on terrorism. Osama Bin Laden was responsible for the many deaths that occurred as a result of his terrorist atta cks. In the wake of 9/11, approximately 3000 people died (Newsmakers 1). This not only affected the people that died, but also the people that love them, witnessed their death, their neighbours, the community around them, and also the world. An enormous amount of grief was felt throughout the world and many societies were humbled.Another way Osama Bin Laden has impacted society is the number of troops, particularly American, that have been sent to Afghanistan and Iraq to fight in the war on terrorism. Approximately 70,000 troops were sent to Iraq and Afghanistan (Encyclopedia of World 23). This affected both their own lives and also their loved ones, not knowing if they are alive, putting a great amount of fear in millions of people’s lives worldwide. The cost of the war on terrorism has not only been human lives. Governments across the world have had to fund the increased deployments and make revisions in their budgets for the future.Finally, there has been a large death tol l incurred by innocent Muslims living in both America and on the battlefield. In retaliation to the 9/11 bombings, many Americans discriminated against Muslim Americans and many cases resulted in violence. Muslim lives have been lost fighting for Al-Qaeda and innocent civilians have died, being caught in the middle of this war. Osama Bin Laden is responsible for changing society and the lives of many Americans, troops and his own followers. Osama Bin Laden left his mark on society by his role in inflicting terror nto the hearts and minds of people worldwide. What is so frightening about terrorism is that it could happen anywhere and anytime. Bin Laden used this advantage of mystery to plant the seed of fear into people’s minds worldwide. In October 2001, according to a Gallup poll, forty six percent of Americans said terrorism was America’s biggest problem (Grier 47). This shows that Osama Bin Laden has had an enormous and lasting influence on the way Americans think a nd why they may do certain things.Osama Bin Laden had such a great influence on Americans and their minds that the CIA released a bounty worth $25 million for Bin Laden. New York City authorities put posters up around New York City showing again how much the capture of Osama Bin Laden was worth to America and how much he had affected society. This is evidenced in figure one, showing that officials want Bin Laden dead or alive. Osama Bin Laden destroyed billions of people’s peace of mind worldwide. The 9/11 attacks were carried out in conditions of everyday life, which was in essence using the element of surprise as a weapon.What is more terrifying is that he managed to install his people into our communities. These terrorists lived amongst us until Osama Bin Laden gave his orders. This effectively created a feeling of mistrust and paranoia after the 9/11 attacks. It certainly had a great impact on the state of mind of many Americans. Osama Bin Laden impacted society by influe ncing the modification of the security systems, being responsible for killing thousands of people, and putting terror in millions of people’s minds worldwide.While Osama Bin Laden had an extraordinary influence on how people around the world feel and behave he also had a negative impact on America’s economy. One way Bin Laden left his mark on the United States economy is that his actions caused the United States to spend billions of dollars for the military, defence, and security sectors. In the years of 2006-2008, military spending increased by $540 million to supply weapons and transportation to fight the war on terror and to deploy troops into Pakistan and Afghanistan to find Bin Laden (Griffin 17).This huge expense would not have been incurred if Bin Laden had not executed the attack on the World Trade Centre. These funds could have been spent on other things, like paying off the national debt or providing better education and healthcare for American citizens. Not only did Bin Laden cause the United States spend unnecessary money on finding him, but he also affected society by redistributing $540 million of potential funding which could have been used in improvements in society. This money was spent on defence and the security sectors.All three of these divisions boosted the United States debt to $14. 3 trillion (Burger 8). Osama Bin Laden cost the United States lots of resources, money, and time in the search for their peace of mind. Osama Bin Laden’s actions have caused friction amongst Middle Eastern and western countries, raising the prices of goods from these nations, in particular oil. After the 9/11 attacks, the unhealthy relationship between Islamic countries and America made Muslims reluctant to trade, resulting in an increase in the oil price. Before 9/11, oil prices were $1. 3, per gallon but they have increased to a current price of $3. 65 per gallon (Miley 16). Obviously, with the price of gas skyrocketing by over $2 after 9/11, resources have become very expensive to obtain and has put many Americans in difficulties financially because it is a huge increase that has to be accounted for. Other resources such as gold have experienced price increases. At the time of the 9/11 bombings, gold was priced at $271. 5 per ounce however it is now very expensive, rising to $1821 per ounce (Miley 13-14).The price of gold after 9/11 has risen over 600%, while the American dollar has lost one third of its value. Since the 9/11 attacks, the increased price of many plentiful goods within the Middle East has made it more difficult for people to pay for them. Another way Bin Laden affected The United State’s economy is due to his role in planning the destruction caused which resulted in the reparations the insurance companies owed, and the time and money spent cleaning the devastation.Firstly, in the attacks that killed over 3,000 people, it cost an estimated $1. 5 billion to clear the devastation where the Wor ld Trade Centre stood (Giffin 13). This cost in clearing the remains, moving it and disposing of it was a large expense which otherwise would have been used on other necessary expenditure such as education or roads. These funds were spent on an event that could not have been predicted or budgeted for. The cost to America can also be accounted in for the time of thousands of workers and the effort of volunteers.Another way this incident affected the economy is in the insurance claims that were owed to millions of people. These insurance claims include life insurance, auto insurance, and property insurance. The combination of lives lost and damage of properties led to and estimated $40 billion price tag in insurance claims (Giffin 7). This huge toll on insurance companies made many companies bankrupt, and if not bankrupt, premiums became very expensive for people wanting to purchase insurance.The cost of disposing and clearing the site where the World Trade Centre stood and the insura nce claims incurred after the attack crippled the economy, especially that of New York City. After the attacks of 9/11, many other struggles within the United States economy arose. One example of this is that the unemployment rate in the United States almost doubled. Prior to 9/11, the unemployment rate was four point nine percent but soon after, the unemployment rate rose to nine point one percent (Miley 7-8).As a result of the terrorist attacks over 600,000 jobs were lost, 226,000 of them in the travel industry (Miley 7-8). This huge cut of workers left many people struggling to survive, becoming homeless, and relying on welfare or other sorts of government aide to survive. With a large demand for supplies to aid homeless people, this increased the United States debt even further, setting the debt deeper by the millions. Thousands of small businesses were destroyed by the wreckage in New York City, from the collapse of the World Trade Centre and financially.Approximately 18,000 sm all businesses in lower Manhattan, particularly around the site of World Trade Centre, were either physically destroyed by flying debris or financially crushed without income to offset the costs to repair their shops (Giffin 8). These small businesses were particularly hurt because they did not have large cash reserves or other stores to make sure they were earning money. Instead, they were out of business for six weeks while repairs were being made in lower Manhattan.This lead to the large amount of unemployment that occurred and also left many people bankrupt. The attacks of 9/11 that Osama Bin Laden formulated had a demoralizing toll on America’s economy by increasing unemployment, destroying small businesses, skyrocketing the prices of goods and forcing America to pay hundreds of thousands of dollars to ensure safety and to find the man behind all the chaos and devastation. Osama Bin Laden was a very influential person and he used his power to change his religion for the worse.One way that he did this is that he encouraged a violent form of Islam called Islamism. With his extreme wealth, inheriting $300 million at age thirteen when his father died (Encyclopedia of World 4), and power, he has influenced millions of Muslims to adopt his ideas and beliefs that encouraged violence. In Osama Bin Ladens â€Å"Jihad against Jews and Crusaders†, Osama Bin Laden encourages Muslims worldwide that it is their duty religiously to kill all Americans and their allies whenever possible (bin laden, Osama).Bin Laden promoted a very extremist form of Islam and was able to spread it throughout the Muslim world. He proposed to kill other people because they were of a different religion and belief, even though they may be innocent of any religious hate crimes. He executed these attacks in many different ways, including bombings, assassinations, and cyber attacks (Al Qaeda 2). This added to his repertoire as being very dangerous and helped his followers strive for their mission of the Jihad. He was very intolerant to other religions and wanted others to follow in his path.Bin Laden changed views about religion and religious tolerance worldwide by increasing the stereotypes towards Middle Eastern or Islamic people being terrorists. Many forms of violence against Muslims or people with dark skin and dark hair occurred after 9/11 in retaliation for the attack. Osama Bin Laden therefore negatively affected religion, because innocent Muslims are being discriminated against because of Bin Ladens attacks. Osama Bin Laden had a huge negative influence on religion, the economy, and society worldwide.He masterminded the 9/11 attacks, which devastated the affected communities, America and the world in general. He encouraged a skewed version of Islam that is violent and extreme. Osama Bin Laden put fear in billions of people’s minds worldwide through his terrorist actions that will never be forgotten. Osama Bin Laden, as the leader of Al-Qaeda an d the man behind 9/11, will always be infamous as the man who changed the way westerner’s view modern day terrorism. Al Qaeda. Crime and Punishment in America Reference Library. Ed. Richard C. Hanes, et al.Vol. 4: Primary Sources. Detroit: UXL, 2005. 214-232. Gale World History In Context. Web. 9 Dec. 2012. bin Laden, Osama. Terrorism Reference Library. Ed. Matthew May, James L. Outman, and Elisabeth M. Outman. Vol. 3: Primary Sources. Detroit: UXL, 2003. 109-118. Gale World History In Context. Web. 9 Dec. 2012. Grier, Peter. The Bin Laden Effect. The Christian Science Monitor 7 May 2011: n. pag. Print. How September 11 2001 Changed the U. S. Economy. Best Bank Rates | Compare the Best Interest Rates Today. N. p. , n. d. Web. 2 Dec. 2012. Johanson, Mark. How 9/11 Changed the Way We Travel. International Business Times 9 Sept. 2011: n. pag. Print. Miley, John. The Economy before and after 9/11. MSNMoney. N. p. , 7 Sept. 2011. Web. 10 Dec. 2012. Osama bin Laden and al-Qa eda. Terrorists and Terrorist Groups. Ed. Stephen Currie. San Diego: Lucent Books, 2002. 69-83. Lucent Terrorism Library. Gale World History In Context. Web. 25 Nov. 2012. Osama bin Laden. Encyclopedia of World Biography. Vol. 22. Detroit: Gale, 2002. Gale Biography In Context. Web. 25 Nov. 2012. Osama Bin Laden. Newsmakers. Vol. . Detroit: Gale, 2012. Gale World History In Context. Web. 25 Nov. 2012. Wanted signs of Osama bin Laden have been posted on buildings, subway stations, and bus shelters America Under Attack: Primary Sources. Ed. Tamara L. Roleff. San Diego: Lucent Books, 2002. Lucent Terrorism Library. Gale World History In Context. Web. 9 Dec. 2012. Washick, Joseph. 9-11 Effect on the Economy Remembering 9-11. Trulia Real Estate, Homes for Sale, Apartments for Rent, Local data. N. p. , n. d. Web. 2 Dec. 2012. (â€Å"Wanted Signs†) Figure 1

Supply Chain Management. Green Supply Chain Essay

Supply Chain Management. Green Supply Chain - Essay Example quirements are changing (economy, customers demand, competition, legal regulations etc.), this affects companies’ internal and external processes as well as they need to increase attention to their Environmental Management (EM) and to create environmentally friendly strategies for the green supply chain. In other words, green supply chain is a growing trend among companies worldwide as part of their customer responsibility effort to weave environmentally sound practices into their business operations (Barnett 2011). The main factors leading to the green supply chain are the following: 1. The most obvious factor is environmental concern, the details include: CO2 (Carbon Dioxide) Emissions. Companies are reducing their carbon footprint to the effort of mitigating pollution with the ultimate objective of keeping carbon emissions within the regenerative capacity of ecosphere. This is aligned in the consideration of the growing number of customers who are now conscious of the envir onmental practice of business enterprise, coupled with the benefit that effective green supply chain management can, in fact, increase operational efficiency and reduce operational cost that made green supply chain a business imperative (Zhu, 2012). Oil Spills (Pollution), Land Degradation and Energy include other environmental factors of concern. 2. The second factor is: Green Product Demand Accenture Company did a survey of 250 senior executives in 8 foreign markets in such countries as US, Germany, UK, France, China, Brazil and India. The figure below shows that the most important reason for a company to use a sustainable supply chain is caused by the customers’ expectations. Table1. Factors leading to Green Supply Chain (Accenture Consultancy, 2012). 3. Costs For example in 2009, Coca Cola...It provides eco-efficiency by distributing goods with reduced consumption of materials, thus, helping in maintaining the environment. Some food products require temperature managed en vironments for various types of food ingredients and require separate supply. MOS Burger, a Japan-based burger chain, has employed such trucks that have three temperature belts to attend to varied freezing, refrigeration and normal...

Financial statement presentation and disclosures Essay

Financial statement presentation and disclosures - Essay Example The financial deals and agreements will have a positive material effect on the company. They will be not presented in the balance sheet because they do not affect the borrowing capacity and these activities hide a certain amount of liability. Variable-Interest Entities: It is a concept which is introduced in the US Financial Accounting Standards in FIN 46 which refers to the entity (investee) in which the investors holds a certain amount of controlling interests which is not based on majority of the voting rights. It is almost synonymous to the concept of the special purpose entity. It is subject to the consolidation of certain financial conditions related to the variable interests. It is the primary beneficiary of the 7E which is defined as the person with a company with a majority of variable interest (Madura, 2007). Non controlling Interest: Non controlling interest refers to the ownership stake in a corporation in which the required position gives the investor the chance to under stand the way the company operates. Majority of the positions held by the investors are deemed to be non controlling interests because their ownership stake is very much insignificant relative to the total outstanding shares. Disclosure: Off balance sheet transactions, Variable-Interest Entities, and Non controlling Interest Off balance sheet transactions: The Company engages in varied financial transactions which should comply with the US GAAP principles that are not recorded in the company financial statements. These financial transactions involve the varying degrees, credit, interest rate, elements of credit and liquidity risk. These transactions are used to manage the request of customers in the form of funding, letters of credit and loan commitments. Firstly, to know what are the elements in the off balance sheet transactions, critically analyze them and their arrangements. Secondly, to assess the likelihood of the occurrences of an unknown trend, commitment, demand and any eve nt or uncertainty that could affect the off balance sheet arrangement and thirdly, the assessment would be required to conclude about the management trend. This would help in assessment of the uncertainty of the variables and would also help in arrangement of the off balance sheet elements and variables. The following items are necessary for the disclosure of certain items like: The nature and the business purpose if the company’s off balance sheet arrangement for the variables (Groppelli & Nikbakht, 2006). The importance of the company’s off balance sheet arrangement of the variables with respect to the liquidity, capital resources, credit risk, market risk and the support of some benefits (Hall, 2007). The amount and nature of the interests retained, issues securities other form of indebtedness that is incurred by the company in connection with the arrangements The amount and nature of any amount of obligation or liabilities of the company that arise out of the arran gements that are likely to become material Any known event, demand , uncertainty that will result in the termination of or reduction of material benefits that the company has proposed Variable-Interest Entities The variable entity model does not apply because the enterprise is being evaluated or consolidated for the traditional operating entity. As per the Accounting Standards Codifications

Interpersonal Violence Distortion of a Community Essay

Interpersonal Violence Distortion of a Community - Essay Example This may impact on the community negatively and will slow any development that would be taking place. According to Myer and Enns, the whole aspect of Christianity concerns reconciliation among individuals within a community. According to them, Christianity would be fighting oppression and violence in the lives of many individuals. They advocate for this with their foundation rooted on the teaching of the Jewish prophets. These two make references to the holy bible that gives guidelines on peacemaking process. The bible is the main source of restorative justice. Through teaching in the bible, one has a view of how disputes were earlier solved and uses the same in current events. At times, through the readings of the bible, people get to know what steps to take in problem solving. Restorative justice aims at resolving differences that would have risen earlier without causing any harm or even regenerating what had earlier happened. Restorative justice is for the purpose of repairing dif ferential concerns that arise in the community. These two authors emphasize that aspect of restorative justice is embedded in the bible as shown by the church. They have hence based their writings on issues of dispute resolving in the bible. For example before Saul converted to Paul he used to persecute Christians but after converting, he was regarded as a follower of Christ. Acts relating to the issues of personal violence would be grouped family and community types of violence. Further, those aspects relating to the family are grouped into partner, child or elder. Thus, there is child abuse, partner abuse or even elder abuse. Causes of interpersonal violence Writers have emphasized that violence cannot be caused by a single factor but, by a multiple factors. This is because violence is complex and may be as a result of one or more related aspects. These factors are looked into below to expound on the issue of violence. The individual is a factor to this respect. Individuals are di fferent in terms of ideas, feelings, practices, temper level and their views on the issue. The other aspects would be social, community and relationship areas. Interpersonal differences are those differences or disagreements that may come up when one individual in not in moral terms with another in society. Temper level within an individual may lead to violence within a community. We have to understand that there are people who get annoyed easily by unpretentious things. This would provoke such individuals to cause violence which is unnecessary. Violence can also be caused by communal aspects. At times, the community requires people to participate in some activities or even carry its own activities. Many are times when individuals may go against this issue. When asked about the progress of the same, they get annoyed, and cannot contain this pain in them and as a result, they initiate violence. Such aspects lead to serious problems that are harmful to the person and loss to the commu nity at large. There may also be societal aspects that may be a course of generation of violence. A valid action plan is to eliminate what annoys an individual to the extent of committing violence. In fact, Enns and Myers advocate for peacemaking as per the bible. Those annoyed hence should be slow to anger and listen to advice given to them by the medical experts. This would lead to peacemaking process in situations concerning violence. Effects of violence in the community Violence being unethical, impacts on the