Recruitment and Staffing Proposal Essay

In follow up to your request, I drafted a recruitment and selection proposal for your review. The proposed methods for the senior level positions will streamline our processes and align them to the organization’s business strategy. My proposal includes: Three recruitment methods. Three selection methods. A cost/benefit analysis and comparison of the approaches. Metrics to evaluate the effectiveness of the ongoing recruitment and selection. Recommendations. As part of our recruitment and selection strategy, it is very important to assess the candidate’s true interest in our organization and their position within the organization. A bad hiring decision at the senior level can have extensive implications that could impact the direction, strategy and operations of the company causing a negative impact to the company’s bottom line. After you review the proposal, please contact me to coordinate a follow-up discussion. Thank you, HR Director Cost/benefit analysis Purpose The purpose of this cost-benefit analysis is to determine which recruitment and selection methods are the best options for HSS to perform for senior level positions. Overview The following is a brief overview of the methods analyzed in this document. Recruitment Methods Internal Recruitment – This is accomplished by choosing among current  employees to fill a position that falls vacant over time. It can be achieved by a promotion or a lateral move. Executive Search Firm – This is executed by hiring a recruiting company to research viable candidates working for competitors or related businesses. Social Media – This is executed by coordinating candidate sourcing through social media such as LinkedIn, Facebook and Twitter . Selection Methods Assessment Centers – A candidate can undergo a series of standardized tests conducted by trained assessors. The exercises may include comprehensive interviews, individual and/or group simulation activities, and work-related performance. A good test would be to ask a potential employee to look at a profit and loss statement and describe how best to increase the sales. The content, instructions, and time allowed must be the same for all candidates. The results would be evaluated by a panel of trained assessors (SHRM). Structured Interviews – Uses a list of predetermined questions. All candidates are asked the same set of situational and/or behavioral questions; however, the follow-up probes may be different. These interviews ensure that similar information will be gathered from all candidates. References – The purpose is to obtain information about the candidate’s behavior and work performance from prior employers that could be critical to our decision. Costs/Benefits Method Cost Benefit Recruitment Internal Recruitment Internal labor cost for a 6 month timeframe: HR Director & HR Generalist @ 30-40 hours (5-6 hours per week) = $2,200-$3,000 Cost effective, supports positive employee morale and retention, candidate is familiar with the business, provides opportunities for promotions and we can access known past performance. Executive Search Firm 20% – 30% of first year salary = $20,000 – $30,000 Reduces time of recruitment, broad range of candidates, can bring new talent/ideas and we can gain knowledge, experience and contacts from recruiter. Social Media No fees Low cost publicity, attracts a variety of workers, directs more traffic to our company’s website and enhances company branding. Selection Assessment Center Up to $2,000 for each candidate 3 candidates = $6,000 (Hale) More reliable than traditional testing, reduces charges of political favoritism, they can predict short and long term success and does not produce an adverse impact. Structured Interviews Internal labor cost for a 6 month timeframe: 5 employees @ 10 hours = $2,100 Ensures that similar information will be gathered from all candidates and reduces equity concerns. References Internal labor cost for a 6 month timeframe: HR Generalist @ 20 hours = $529 The supervisor will know the candidate’s work performance and be able to confirm employment and compare similarity of jobs. Comparative Cost/Benefit Summary While internal recruitment is the most economical method for recruitment, it is not always the best method. This is good for employee morale; however, we should look externally as well to ensure that we identify the ideal candidate. An external candidate can offer a fresh perspective that would help our organization move to the next level. Executive search firms are expensive; however, they can provide current market intelligence on our  competitors. Also, they could deter the risk of litigation if selection decisions prove to be discriminatory. By hiring an external candidate, the employee can take HSS in a different direction by introducing new perspectives. According to Jobvite, a leading recruiting platform, â€Å"One of six job seekers polled credited a social network for leading to their current/most recent employment. The goal of using social media as a recruiting tool is to create a buzz about your organization, share stories of successful employees, and tout an interestin g culture†. Facebook, Twitter, LinkedIn and YouTube are excellent places to obtain a media presence to attract a variety of candidates. Social Media can enhance our employer branding through these tools to attract the most suitable talent by engaging passive job candidates with no external cost. We can capitalize on our reputation to attract large numbers of potential job seekers. If we are able to improve our branding, we can save money on traditional recruiting methods because viable candidates will be asking us to hire them. The Society for Human Resource Management (SHRM) suggests that organizations should not use social networks as the only recruiting tool because â€Å"not every job seeker uses social media†. This could cause adverse impact † on those who are economically less advantaged, which may correlate with certain racial and ethnic groups†. Structured interviews makes it possible to compare qualifications and reduce equity concerns at low internal costs. Telephone reference interviews are the best way to get more depth about the candidate’s character and background. â€Å"Past performance is the best predictor of future success† (SHRM). Assessment centers can be expensive; however, their tests are more valid because the candidates would be evaluated by many different experts. According to a journal written by Gunderson and Haynes, â€Å"Numerous studies have determined that the assessment center method has greater validity for promotion and selection than traditional techniques. Having been developed on the basis of job analysis, it is inherently valid and has proven to be a better indicator of future success than any other tool yet devised†. Furthermore, if they are easy to defend if challenged due to their fairness and objectiveness. Based on a study by the Center for Creative Leadership (CCL), they stated that â€Å"In terms of the organizational needs, when the company was dealing with a cultural or strategic change, executives were more likely to be successful  if they were promoted from within rather than hired from the outside†. This is due to the employee’s familiarity with the company and established relationships. Metrics After we implement the new processes, we will evaluate them to ensure that they were cost-effective, timely and, most significantly, that we hired the right employees. Information gathered may be invaluable for further recruiting and to ensure HSS is meeting its goals. There are many metrics to track recruitment results, including the following: Measure the turn-over rate to determine if we have a balance of new employees and experienced staff. Employees leaving in large numbers may indicate that we did not use the right method of recruitment and selection to find the right employee. Measure the cost of turnover – all of the costs associated with replacing a new employee (recruitment costs, selection costs, training costs, etc.). Evaluate the job performance reviews. A good way to measure is to look at the performance evaluations of new employees after the initial 6-month probation period and 1 year anniversary. Solicit employee feedback on what they thought of the recruitment and selection methods. Getting their measurement data will help us make an informed decision. Ask them if the recruitment and selection methods had any effect on their decision whether to accept the position. Positive feedback indicates a measurement of doing it right. Measure the number of days from the vacancy being posted to the time it was filled. Measure the cost per hire and check to see if we stayed within budget. Measure the number and qualifications of the applicants for the position. Measure the time it took for the new employee to get acclimated to the new position. Selection ratios—the number of a group selected as a percentage of the total number recruited. Recommendations Our recruitment and selection process needs to change to adapt to the evolution of technology. We will need to start with an organizational needs assessment to define and assess the work environment (Sessa & Campbell); we can analyze the organization’s strengths, weaknesses, goals and trends. The assessment will help us to develop a profile of our ideal candidate and to construct a valid set of questions to use in our interviews. The next  step should consist of reviewing the job description. This will help us to define the job postings. This will also help develop our recruitment strategy. Then we can review the recruitment and selection processes that are listed in the cost and benefit analysis. I recommend that we use all of the methods that I listed. The costs for contracting an assessment center and an executive search firm may be high; however, I feel that the costs are fair trade-offs, considering the level of the positions. Furthermore, we can hire a contingent executive search firm so we do not have to pay any fees unless we hire the candidate. Each tool is an excellent approach. However, if we diversify our methods, we can have a stronger opportunity in hiring an ideal senior level employee. Conclusion Today, our competitors are using a variety of methods to attract the ideal candidate. Since we are a young company and we are projecting that we are going to have more than 200 employees in the next five years, we need to strengthen our recruiting and selection methods for our senior level positions to ensure that we have the right people in place and be at the cutting edge. We can achieve this by implementing all of the methods that I described in my cost/benefit analysis. Hiring the wrong person for the job can be a costly mistake. References Executive Selection A research report on what works and what doesn’t [Review [Title of Reviewed Work], by V. I. Sessa, R. Kaiser, J. K. Taylor, & R. J. Campbell]. (1998). Retrieved September 26, 2014, from http://www.ccl.org/leadership/pdf/research/ ExecutiveSelection.pdf Gunderson, G. J., & Haynes, B. R. (2000). Assessment technology: Its use in improving leadership and management performance. Journal of Extension, 38. Retrieved from http://www.joe.org/joe/2000december/tt1.php Hale, C. (2005, April). Pros and cons of assessment centers. Retrieved September 17, 2014, from http://www.hendonpub.com/resources/article_ archive/results/details?id=3975 Jobvite. Retrieved May 10, 2013, from http://recruiting.jobvite.com/company/press-releases/2012/75-of-american-workforce-is-actively-seeking-or-open-to-new-jobs-jobvite-s-annual-social-job-seeker-survey-reveals/ Recruitment. (2013). In Society for Human Resource Management (Comp.),Workforce planning and employment (Vol. 2, pp. 164-233). Alexandria, VA: Society for Human Resource Management. Segal, J. A. (2014, September 1). Social Media Use in Hiring: Assessing the Risks. Retrieved September 26, 2014, from SHRM website: http://www.shrm.org/publications/hrmagazine/ editorialcontent/2014/0914/pages/0914-social-media-hiring.aspx#sthash. Hxh35wT5.dpuf

Life unworthy of life: phobia and Mass murder in hitlers’ Germany

James M. Glass was known for his expertise in politics and psychology of illusion. Glass’ interests include political theory, philosophy, and political psychology. His current researches also include about the study of the psychological preconditions for engagement with civil society.This is the reason why he was able to come up with a written narrative regarding the historical background on the Nazi regime. As a result, the historical account that has been written by the particular author is a fine display of the history of the people of the time of Hitler.About the BookIn Hitler’s regime, it could be seen and imagined how hard the individual Jews struggled for their survival. If the situation would be compared to the present society today, it could be observed that the present society is already lucky it is   not experiencing what the Jews have   undergone during the those times.During the time of the German Nazi era, the rules and the code of the government were not merely implemented in good ways. The abusiveness of the power is a mere factor why so many Jewish people suffered the pains and agonies brought about by the regime.They were a part of a community that has freedom and will   to do whatever they wanted to do, but during that time racial discrimination made a big impact and easily affected the German Jews. Glass’ report on the said important account of the situation has mainly pointed out several important factors that contributed to the succession of the history towards the Nazi regime.THE ENLIGHTENMENT: ACTION AND REACTIONIn the time of Hitler’s Dynasty, some of the government officials do not know what the importance of life was. Killing for them is very easy and vigorous, and they did not consider it as a crime. However, today, the situation that happened before has mainly affected the views of the present society regarding their respect of life.This touching history enlightens the people on how they will respec t each other in different ways all over the world. It is a challenge to the people to always remember how the Jews faced the bitterness of political adversary, political error and abusiveness of power by the leader of the nation

Book Assignment Part 3 Essay Example | Topics and Well Written Essays - 1250 words

Book Assignment Part 3 - Essay Example While not so different from traditional villages in its desire to engage in a free exchange of ideas, the global village is one that thrives on the communication and transportation infrastructure that seems to be binding the world into one 'large, happy family'. The basic metal and cultural setup of a country is formed by it inhabitants and the people who come forth to call it home. Throughout history, there have been numerous examples of how immigrants have been an important part of the people as a whole when it comes to contribution to the cultural and basic climate of a country. (Massey et al, 2001) The case for this paper is that of America. As a country, America has been blessed with the great 'salad bowl' syndrome, wherein it enjoys a plethora of people who have come to the shores of this great country in search of opportunity. The basic reason for people migrating to a certain part of the world is the lure of opportunity as opposed to whatever threat might have met them in their home land. In this regard, the paper will discuss the book Beyond Smoke and Mirrors: US Immigration Policy in the Age of Globalization, as the authors set about describing the mindset of the immigrants as well as the hosts who came to set up homes in America. According to the authors, immigration policies and principles have been one of the most important aspects of public policy in the US. This is a part of their history. It has been mentioned by the authors that the nation had passed through perhaps the single most significant transformative period in its history by those who lived through the Civil War and Reconstruction. The great questions of slavery, sectionalism, and national supremacy that had plagued the Americans for nearly eight decades had been resolved through a combination of the force of arms and the constitutional and legal change made possible by military victory. Irrespective of the fact that most Americans believed that these issues had been permanently resolved, this period posed new challenges to American values and assumptions which in term have influenced their take on immigration policy. Three intertwining themes define the evolution of the US Immigration Policy and perspectives in the same as garnered from the bo ok: (Massey et al, 2001) (i) industrialization - the rise of the industrial economy and of accompanying issues of law, governance, and public policy; (ii) urbanization - the dramatic growth of the nation's cities as focal points for population growth and demographic change, and as centers of commerce, culture, education, news, and politics; and (iii) integration through immigration - the effects on American identity, politics, and culture of the great waves of immigration from eastern, central, and southern Europe and from Asia. The interaction of these themes added richness and complexity to late nineteenth-century American history. In order to further understand the implications set forth by the writers in this book, it is important to understand the motives behind the immigration of various groups of people so as to understand the evolution of the Immigration Policy. This has been garnered by the book as follows: Mexicans Just as labor's response to industrialization seemed threatening to prized American values of individualism, free enterprise, and social

Assignment Example | Topics and Well Written Essays - 250 words - 4

Assignment Example K-Swiss chooses to use celebrities and athletes to target the market of consumers who are serious about performance in the sports they play. What they are basically saying to customers is something along the lines of â€Å"this high-performing athlete uses these specific shoes; therefore you should use them as well if you consider yourself a serious athlete.† The message that they convey over and over is that they produce top quality shoes and apparel for top quality athletes. Also, the Kenny Powers commercials are very funny and have an effect of increasing brand awareness because people that wouldn’t otherwise be interested in a product get to know about that product simply because they enjoy watching the humorous commercials. K-Swiss promotions could actually be seen as meeting all four types of Maloney’s rewards that a customer expects. Firstly, K-Swiss shoes are rational because they meet a need of athletes who desire high-performance as well as comfortable shoes. Secondly, the ability to customize colors makes them appeal to the senses and to the more casual buyer as well.

Identify barriers to cultural competence and note ways that the nurse Research Paper

Identify barriers to cultural competence and note ways that the nurse can improve the nurse-patient and nurse-family relationshi - Research Paper Example The process of learning the traits of the local culture starts right from birth. As they grow up, nurses assimilate into their indigenous culture that can have a profound effect on the way they interact with the patients as well as the way they operate in the health care system. Cultural competence essentially means the ability to deal with the differences of beliefs, opinions, values, and practices grounded in cultural differences in an articular manner so that the quality of work is enhanced and conflicts are deterred. Barriers to cultural competence of nurses include but are not limited to discrimination, prejudice, stereotyping, racism, lack of awareness, and lack of language proficiency. Certain barriers are overtly noticeable such as lack of language competency because the nurse cannot communicate with the other person while other barriers are hidden such as lack of awareness of the belief systems of different cultures. In certain situations, nurses display a lack of sensitivit y even without any intention to offend the other person. This lack of sensitivity is grounded in nurses’ lack of awareness of the different sets of beliefs and norms that comprise different cultures. ... Although it is very difficult to fully master the values of different cultures, it should be understood that good manners are appreciated and interpreted as symbols of respect in almost every culture. Simple steps like asking the patients how their day has been and asking them by what name or title do they want to be addressed inculcates respect in the hearts of the patients and coworkers for the nurses. In order to develop cultural competence, it is imperative that nurses acknowledge the existence of a variety of belief systems in the society. There are times when others’ health care practices appear meaningless or strange. Nurses might find others’ beliefs about the health care services in their country difficulty to understand. While it is not required of a nurse to fully understand the whole variety of belief systems of their patients, yet nurses need to have respect for them. Nurses should avoid making assumptions about the beliefs of people from different cultures if they are not familiar with the values of those cultures. â€Å"Cultural competence is obtaining cultural information and then applying that knowledge† (Culturaldiversity.org, 2012). In light of this definition of cultural competence, it is more advisable for the nurses to ask those individuals very thoughtfully and professionally how things are done in their culture, if necessary. The nurses need to try to find out the level of awareness in the patients about their health problems, methods of treatment, and the expected outcomes. Nurses should display respect for the support groups of the patients as well that may include anybody ranging from family members to religious leaders. Cultural competence is one of the most

Narration Essay Example | Topics and Well Written Essays - 750 words

Narration - Essay Example Try though it might, the flower could not determine from any of the sunbeams arriving outside its door when this ‘summer’ should arrive. In the way that nature speaks to itself, the sunlight sang a welcome to the flower until it opened itself up completely, revealing the special green stripes on white petals that made it unique, but not too proud. The sunbeam celebrated the arrival of the flower because it was the first and therefore symbolized the earliest beginning of summer, but quickly told the flower about the dreams of the summer and the many companion flowers it would have then. This enthusiastic welcome and sense of singularity gave the flower a psychological boost that gave it the fortitude to continue standing when the sunlight disappeared behind a cloud and the wind and weather returned. As had the sunlight, the words of the children again provided the flower with a psychological boost. This boost was so touching that the pain of being broken at the stem did not register in its awareness. Any residual pain it might have felt was erased by the warm hands and the pressing of soft lips against its petals. There was a young girl of indeterminate age living in the house who decided upon a specific boy to be her summer romance. However, this boy was engaged in his studies far away. To convey to him her feelings, the girl wrapped the flower up in some pieces of wood fiber on which were written several verses presumably of romantic sentiment. The flower experienced the darkness as if it was again within the seed. This was not an agreeable experience for the flower as it traversed through the postal system, but the journey was not long and soon, the letter in which the flower was enclosed was opened by the boy. The next time the flower saw the light of day, the boy was no longer happy but was angry. He grabbed up the verses that had enclosed the flower and burned them. The flower could not understand why it

Romanesque art- art history Coursework Example | Topics and Well Written Essays - 2000 words

Romanesque art- art history - Coursework Example As a result, the form is a simple Romanesque architecture with two large arches intersecting each other to form a unique pattern. To understand the Pre-Romanesque and Romanesque art, it is necessary to critique different books which will illuminate on the effectiveness of the books in expounding on Pre-Romanesque and Romanesque art. It is imperative to critique the literature on the zodiac in pre-Romanesque and Romanesque art by analyzing the sorts of artworks used, the circumstances under which they were used, their physical arrangement and the related subjects. The most common construction material in the Romanesque period was stone which was constructed into a multi- storey entrance faà §ade that appeared to have a geometrical inspiration. Typical structure had huge vaults and arches. The reason for analysis of Romanesque art using the churches is because the structures designed for Romanesque churches were different from other buildings which were being set up at that time (1). For instance, other structures never used vaulting for large structure but only for structures that were relatively small scale. However, the Romanesque churches utilized masonry vaulting that entailed massive barrel vaults which made it mandatory to provide reinforcement necessary to push the lateral outward thrust on the load-bearing walls. Simona Cohen, The Romanesque Zodiac: Its Symbolic Function on the Church Faà §ade will be used to analyze the Romanesque art, the sculpture and the associated subjects in order to gain a comprehensive understanding of pre-Romanesque and Romanesque art. The Romanesque Zodiac: Its Symbolic Function on the Church Faà §ade is the fifth chapter in his book, Transformations of time and temporality in Medieval and Renaissance art. The book has been presented in a rather simple way with a blend of literature and art. The art used in the book are the

Edgar Allan Poe Essay Example for Free

Edgar Allan Poe Essay Although not originally well received, Edgar Allan Poe, became one of the most influential literary writers in American history. As a child, he wrote numerous poems, many which were later published. As a young adult he focused much of his attention on short fiction. He was credited with creating the detective story and known for his psychological and often violent thrillers. He is also known for his macabre themes and for having a fascination with death. Literary students should recognize these characteristics associated with Poes writings were shaped by many tragedies in his life, such as abandonment of his father, untimely deaths of his mother, brother, wife, and other loved ones, and the problems he faced with his adoptive father. Edgar Allan Poe was born in Boston on January 19, 1809. Shortly thereafter, his family moved to New York where his father, David Poe, resumed his acting career. David soon quit acting and abandoned his family. He died a short time later (Harrison 22). Soon afterward, Edgars mother, Elizabeth, became ill and died (Nilsson). A young woman named Frances (also known as Fanny) and her husband, John Allan, took in Edgar. Soon thereafter, John, a tobacco trader, moved the family to England. There, Edgar began his first formal education. In 1820, when the tobacco market in London collapsed, the Allans returned to New York (Benfey; Nilsson). Edgar continued his education, excelling in Latin and French. During this time he was also in search of a maternal figure. Although fond of Fanny Allan, her poor health limited her ability to fulfill a motherly role. Edgar found a substitute in Mrs. Jane Stanard, a mother of one of his classmates. Unfortunately, she died a year later at age thirty-one (Nilsson). After her death, John Allan described Edgar as sulky and ill tempered to all the family (qtd. in Thompson). Mr. Allan felt insulted by Edgars behavior, especially when considering all he had done for Edgar. This was the beginning of the deterioration of the relationship between Edgar and John Allan that would provide conflict in Edgars life for many years to follow (Thompson). In 1826, Edgar attended the University of Virginia. He was an outstanding student and excelled in various languages, debating, writing, and athletics.  At age sixteen he fell in love with and became engaged to a girl named Elmira Royster. While away at college, he wrote her frequently but her father intercepted the letters (Thompson). Edgar was upset when he did not receive any replies. In addition to this disappointment, life at the school was chaotic and dangerous (Benfey). There were fights with students throwing bricks and bottles at professors and problems with students gambling. Edgar described one situation in a letter to John Allan in which he stated that one student was struck on the head with a large stone and in response he pulled a pistol. On another occasion he wrote about a student that bit another student, which Edgar described as, it is likely that pieces of flesh as large as my hand will be obliged to be cut out (Carlson). While away at school, Poe obtained large gambling debts and blamed John Allan for not providing proper financial support. When, Poe returned to Richmond during a school break, Allan reportedly broke off Poes engagement to Elmira (Carlson). He (Allan) then sent Edgar to work at his company instead of sending him back to school (Thompson). In 1827, Edgar and John Allans relationship completely fell apart. Poe wrote, Ive heard you say. . . that you have no affection for me (qtd. in Nilsson). Edgar moved out and while on the streets developed a problem with alcohol. Before long he obtained employment with a small newspaper and provided the printer with some of his early manuscripts. This resulted in a booklet entitled, Tamerlane and Other Poems. The main poem is a story about a warrior who returns home to find his childhood love has died and all his dreams gone. The writing was clearly influenced by Poes own plight in life and his failed relationship with Elmira Royster (Nilsson). Shortly thereafter, Poe lied about his age and used a fictitious name to enter the United States Army. In 1829, he was promoted to the rank of Sergeant Major, the highest rank for a noncommissioned officer (Thompson). Meanwhile, Fanny Allan became seriously ill and died. Edgar arrived home after her burial. Feeling guilty for leaving Fanny, he wrote, I have had a fearful warning and have hardly ever known before what distress was (qtd. in Nilsson). After Fanny died, John Allan decided to forgive Edgar for their past problems and support his decision to leave the army to get into West  Point Military Academy (Nilsson). In April 1829, Edgar left the army, returned to Richmond, Virginia, and waited to be accepted as a cadet at West Point. During this time, John Allan became impatient and accused Edgar of being lazy. Their relationship became worse when Edgar requested financial assistance. As he waited for admittance, Edgar returned to Baltimore and continued writing poetry. There, a company named Hatch and Dunning printed his writing Al Aaraaf, Tamerlane, and Minor Poems. This literature centers on the ideas associated with the concept of life after death and ideal love, an obvious reflection on Poes relationships with loved ones. In 1830, Edgar finally entered West Point. He climbed to the top rankings in his class. However, John Allan remarried a much younger woman and sent Edgar a letter stating he had no interest in further contact with him. This resulted in Edgars desire to leave West Point. When Allan did not assist Edgar with his plans to leave the academy, Edgar began to get into trouble. By January 1831, he had committed enough offenses that he was court-martialed and dismissed from the military. He left West Point in February and traveled to New York City before eventually returning to Baltimore (Thompson; Nilsson). While in Baltimore, he met many of his biological relatives for the first time. He also became very close with his brother, Henry. Unfortunately, Henry died six months later due to alcohol poisoning. After his brothers death, Edgar began to write seriously again. Hoping to earn more money, he changed from writing poetry to writing fiction. He wrote his first published story, The Dream, which encompassed much of Edgars past and was thought to have been inspired by his brothers death (Nilsson). In this writing, the narrator dreams that a person he killed has come back though an opening in the sky. As the terrifying character approaches, the narrator awakes. He also wrote a Gothic tale, Metzengerstein, about a feud between a count and a baron. The count eventually is burned in a fire and transforms into a horse. The baron captures the horse and when a fire breaks out in the barons castle the horse carries him into the fire. As the smoke rises upward, a figure of a horse becomes visible (Poes Tales 213-221). Next, Poe published four short stories all concerning the subject of surviving  death. In one story, A Decided Loss (later titled Loss of Breath), the narrator, lost his breath, got his skull crushed, was hanged, had his ears cut off by a coroner, gets cut up and is still alive although repeatedly killed (Nilsson). Edgar continued to have financial problems and in 1833 he moved in with his aunt, Maria Clemm, and his cousin Virginia (Thompson). In 1834, John Allan died. Although Allan was worth about three-quarters of a million dollars, Edgar received nothing (Nilsson). After Allans death, Edgar moved to Richmond and began work for Thomas Willis Whites new magazine, The Southern Literary Messenger. Edgar had fallen in love with Virginia and planned to have her and Maria reside with him in Richmond (Nilsson). Maria, however, intended for her and Virginia to move in with another relative, Neilson Poe (Thompson). Neilson had offered to remove them from the poverty they experienced with Edgar. Edgar was upset and threatened suicide if they left. He was devastated by the prospect of losing Virginia. After they left, Poe quit his job and returned to Baltimore. In September, he and Virginia obtained a marriage license and may have been privately married (Nilsson). Poe returned to work for White, and brought Virginia and Maria back to Richmond with him (Thompson). Poe advised White on articles, proofread for the magazine, and wrote some short stories. During this time his writings centered on gothic fiction. His writings were strongly influenced by, German romantic writers who gave the English Gothicism their own twists and, disregarding probability, greatly exaggerated elements of the horrible and the supernatural (Nilsson). Poe was especially fond of the kind of personal narration called tale of sensation where the persons are usually solitary victims of a life-threatening predicament, about to be executed, or about to have a fatal accident (Nilsson). One of his stories, Loss of Breath, clearly demonstrates these characteristics. Poe took over the official position as editor for the Messenger and turned the magazine into a popular and well-respected regional journal. In 1836, Poe was officially married to Virginia. Although steadily employed, after  the marriage Poe continued to incur debts. In the fall of 1836, his editorial qualities began to suffer. Alcohol abuse was suspected and White removed Poe as editor. Poe soon completely left the Messenger and moved briefly to New York before settling in Philadelphia. (Nilsson; Thompson). After almost three years of free-lance writing, Poe accepted a job as assistant editor for Burtons Gentlemans Magazine. There, he wrote ninety-eight book-reviews and produced large number of articles on other topics. He also wrote, The Fall of the House of Usher, one of his famous gothic horror stories. This is a complex story about a bother and sister (twins) from a cursed family who share a soul with the decaying mansion they reside in. Poe includes the idea of moral decay by hinting at incest, burial alive, and a return from the grave in this thriller about the forces of life and death (Poes Tales 128-144). He also wrote about William Wilson, a man that kills himself but does not die (Poes Tales 3-21). In June 1840, Poe left the magazine due to low pay and a desire to start his own magazine. Poe was unsuccessful with his own magazine and eventually accepted a position for $800 a year working for George Rex Graham who purchased Burtons Gentlemans Magazine and renamed it Grahams Ladys and Gentlemans Magazine. Poe conducted proofreading, wrote reviews, and sometimes engaged in editorial work. He also did some writing but was better known as a critic than as a poet during this period. In the April 1841 issue of Grahams, Poe published The Murders in the Rue Morgue. Nothing similar to this work had ever been published and it has been credited as the first modern detective story. In fact, this work influenced the evolution of stories and the future of movies ever since it was published. An example of how Poes stories influenced future writers include the use of private detectives in contrast to police detectives, the narrator whom is not the main detective in the story, and the analytic process of crime solving techniques. Poes work helped increase the circulation of Grahams from 5500 to 40,000. Though he was successful, he became bored with his position and resigned in July 1842 (Nilsson). Meanwhile, Virginia became very ill with tuberculosis. Her illness hit Poe  hard and he did everything possible to help ease her suffering. The influence of her illness can be seen in his writings of this time. Poe wrote Life in Death and The Masque of the Red Death while taking care of Virginia (Nilsson). Life in Death is about a painter and his sick wife. Ironically, as the painter completes his portrayal of his wife, she dies. The Masque of the Red Death is about a prince trying to save his diseased country from the figure called The Red Death (Poes Tales 201-207). This story was derived from Poes knowledge of both the bubonic plague and the Philadelphia cholera epidemic. As Virginias condition grew worse, Poe suffered and again turned to heavy alcohol consumption. During this time Poe published a few revisions of older poems as well as a few new ones. He also published The Pit and the Pendulum, a tale of a man tortured by the Spanish Inquisition (Poes Tales 221-234). He also worked on his crime and detection stories which include The Mystery of Marie Roget, The Black Cat, and The Tell-Tale Heart. The Mystery of Marie Roget is the first true detective story to try to solve a crime. The Tell-Tale Heart is a tale about the murder of an elderly man whose heart continues to beat as police question the narrator. The beating heart eventually drives the narrator to his confess his crime (Poes Tales 289-293). In The Black Cat, the narrator kills a cat but it keeps coming back to life. While again attempting to kill the cat, he slices his wifes head in two with a cleaver. He hides her corpse in a wall but the cats howls lead the police to the location of the body (Poes Tales 518-527). In November 1846, Poe published one of his best short stories, The Cask of Amontillado. This short story is similar to Poes other crime fiction however there is no confession by the perpetrator. The narrator completes his revenge by capitalizing on his opponents prideful nature and lures him into a catacomb where he is sealed inside. The narrator hints at a feeling of guilt but since the story is told as a reflection of the past, it is clear that no one else knows of the crime (Poes Tales 207-213). In January 1847, Virginia finally died from complications of tuberculosis. Although he was devastated, Poe continued to write and lecture. He also reportedly found romantic relationships with several women, including the  former Sarah Elmira Royster, his first love who since had been married. On October 7th, 1849, Edgar Allan Poe was found unconscious on a street in Baltimore. He died three days later in a local hospital (Nilsson; Thompson). His death has been attributed to alcoholism, however some researchers at the University Maryland Medical Center suspect he might have died from rabies (Shea). Edgar Allan Poe faced numerous obstacles during the course of his life. Although raised by a family with some wealth, Poe was always in a state of financial crisis. Among the relatives and friends of the Allans, Poe was an outsider and maintained a low socio-economic status. In addition, his losses include almost all the people who ever demonstrated any kind of love for him. An analysis of his writings reflects the psychological trauma that he obtained throughout his life. Although these problems kept Poe from immediate success, they had a profound effect on his style and the subject matter of his published works, which eventually made many of his writings popular in and out of the classroom today. Works Cited Benfey, Christopher. Edgar A. Poe: Mournful and Never-ending Remembrance. The New Republic 24 Feb. 1992. Carlson, Eric W. Edgar Allan Poe. Dictionary of Literary Biography Vol. 74 American Short-Story Writers Before 1880. 1988 pp. 303-322. The Gale Group Harrison, James A. Life of Edgar Allan Poe New York: Haskell, 1970. Nilsson, Christoffer. Qrisses Edgar Allan Poe Pages 1996-1998. 29 Nov. 1999 Poes Tales of Mystery and Imagination. London: Dent, 1963 Shea, Christopher. Researcher Says Rabies, Not Alcoholism, May Have Killed Poe Chronicle of Higher Education Sept. 1996. 2 Dec. 1999 Thompson, G.R. Edgar Allan Poe. Dictionary of Literary Biography Vol. 3. Antebellum Writers in New York and the South. 1979. pp. 249-297. The Gale Group Note: In addition, the following source was indirectly used: Edgar Allan Poe. Encarta 1999. CD-ROM. Redmond: Microsoft,1993-1998

Biological oxygen demand (BOD) of water sample analysis Essay Example for Free

Biological oxygen demand (BOD) of water sample analysis Essay Qualitative data: Collected sample was very murky The first end point colour was of a yellow colour, perhaps not light enough Addition of starch indicator produced a grey-black solution; perhaps did not add enough indicator, however this did not pose as a problem There was one occasion where I suspected to have added too much sodium thiosulphate, however the second trial indicated that I did not go past the end point too much Calculations To calculate the dissolved oxygen content (mg/dm ³ or ppm), we must first determine the number of mols of thiosulphate from the mean titrated volume of both samples. In this case, we will use sample A. The Winkler method indicates that the relationship between the amount of oxygen and thiosulphate is a four to one ratio. Therefore, we will divide the number of mols of thiosulphate by four to get the number of mols of oxygen. Then we convert this to milligrams per dm ³ first by multiplying by 20 to arrive with the number of mols present in 1dm ³ (because the pond water sample used was 50cm ³). Then we multiply that number by 32 (molecular mass of oxygen) to attain the number of grams of oxygen. Then finally, the number is multiplied by 1000 to be converted into milligrams. The biological oxygen demand (BOD) would therefore be the difference between the DO of sample A and sample B.

History And Definition Of Depository Receipts Finance Essay

History And Definition Of Depository Receipts Finance Essay A DR is a type of negotiable (transferable) financial security traded on a local stock exchange but represents a security, usually in the form of equity, issued by a foreign, publicly-listed company. The DR, which is a physical certificate, allows investors to hold shares in equity of other countries. One of the most common types of DRs is the American depository receipt (ADR), which has been offering companies, investors and traders global investment opportunities since the 1920s. Since then, DRs have spread to other parts of the globe in the form of global depository receipts (GDRs). The other most common type of DRs are European DRs and International DRs. ADRs are typically traded on a US national stock exchange, such as the New York Stock Exchange (NYSE) or the American Stock Exchange, while GDRs are commonly listed on European stock exchanges such as the London Stock Exchange. Both ADRs and GDRs are usually denominated in US dollars, but can also be denominated in Euros. History of Depository Reciepts American Depositary Receipts have been introduced to the financial markets as early as April 29, 1927, when the investment bank J. P. Morgan launched the first-ever ADR program for the UKs Selfridges Provincial Stores Limited (now known as Selfridges plc.), a famous British retailer. Its creation was a response to a law passed in Britain, which prohibited British companies from registering shares overseas without a British-based transfer agent, and thus UK shares were not allowed physically to leave the UK.2 The ADR was listed on the New York Curb Exchange (predecessor to the American Stock Exchange.) The regulation of ADR changed its form in 1955, when the U.S. Securities and Exchange Commission (SEC) established the From S-12, necessary to register all depositary receipt programs. The Form S-12 was replaced by Form F-6 later, but the principles remained the same till today. Crucial novelties brought the new regulatory framework introduced by the SEC in 1985, which led to emergence of range of DR instruments, as we know it nowadays. Then the three different ADR programs were created, the Level I, II and III ADRs. This change was one of the impulses for revival of activity on the otherwise stagnant ADR market. In April 1990, a new instrument, referred to as Rule 144A was adopted, which gave rise to private placement depositary receipts, which were available only to qualified institutional buyers (QIBs). This type of DR programs gained its popularity quickly and it is very frequently employed today. The ADRs were originally constructed solely for the needs of American investors, who wanted to invest easily in non-US companies. After they had become popular in the United States, they extended gradually to other parts of the world (in the form of GDR, EDR or IDR). The greatest development of DRs has been recorded since 1989. In December 1990, Citibank introduced the first Global Depositary Receipt. Samsung Corporation, a Korean trading company, wanted to raise equity capital in the United States through a private placement, but also had a strong European investor base that it wanted to include in the offering. The GDRs allowed Samsung to raise capital in the US and Europe through one security issued simultaneously into both markets. In 1993, Swedish LM Ericsson raised capital through a rights offering in which ADDs were offered to both holders of ordinary shares and DR holders. The Ericsson ADDs represented subordinated debentures that are convertible into ordinary shares or DRs. German Daimler Benz AG became the first European Company to establish a Singapore depositary receipts program (SDRs) in May 1994. Types of Depositary Receipts American Depositary Receipts (ADR) Companies have a choice of four types of Depositary Receipt facilities: unsponsored and three levels of sponsored Depositary Receipts. Unsponsored Depositary Receipts are issued by one or more depositaries in response to market demand, but without a formal agreement with the company. Today, unsponsored Depositary Receipts are considered obsolete and, under most circumstances, are no longer established due to lack of control over the facility and its hidden costs. Sponsored Depositary Receipts are issued by one depositary appointed by the company under a Deposit Agreement or service contract. Sponsored Depositary Receipts offer control over the facility, the flexibility to list on a national exchange in the U.S. and the ability to raise capital. Sponsored Level I Depositary Receipts A sponsored Level I Depositary Receipt program is the simplest method for companies to access the U.S. and non-U.S. capital markets. Level I Depositary Receipts are traded in the U.S. over-the-counter (OTC) market and on some exchanges outside the United States. The company does not have to comply with U.S. Generally Accepted Accounting Principles (GAAP) or full Securities and Exchange Commission (SEC) disclosure. Essentially, a Sponsored Level I Depositary Receipt program allows companies to enjoy the benefits of a publicly traded security without changing its current reporting process. The Sponsored Level I Depositary Receipt market is the fastest growing segment of the Depositary Receipt business. Of the more than 1,600 Depositary Receipt programs currently trading, the vast majority of the sponsored programs are Level I facilities. In addition, because of the benefits investors receive by investing in Depositary Receipts, it is not unusual for a company with a Level I program to obtain 5% to 15% of its shareholder base in Depositary Receipt form. Many well-known multinational companies have established such programs including: Roche Holding, ANZ Bank, South African Brewery, Guinness, Cemex, Jardine Matheson Holding, Dresdner Bank, Mannesmann, RWE, CS Holding, Shiseido, Nestle, Rolls Royce, and Volkswagen to name a few. In addition, numerous companies such as RTZ, Elf Aquitaine, Glaxo Wellcome, Western Mining, Hanson, Medeva, Bank of Ireland, Astra, Telebrà ¡s and Ashanti Gold Fields Company Ltd. started with a Level I program and have upgraded to a Level II (Lis ting) or Level III (Offering) program. Sponsored Level II And III Depositary Receipts Companies that wish to either list their securities on an exchange in the U.S. or raise capital use sponsored Level II or III Depositary Receipts respectively. These types of Depositary Receipts can also be listed on some exchanges outside the United States. Each level requires different SEC registration and reporting, plus adherence to U.S. GAAP. The companies must also meet the listing requirements of the national exchange (New York Stock Exchange, American Stock Exchange) or NASDAQ, whichever it chooses. Each higher level of Depositary Receipt program generally increases the visibility and attractiveness of the Depositary Receipt. Private Placement (144A) Depositary Receipt In addition to the three levels of sponsored Depositary Receipt programs that trade publicly, a company can also access the U.S. and other markets outside the U.S. through a private placement of sponsored Depositary Receipts. Through the private placement of Depositary Receipts, a company can raise capital by placing Depositary Receipts with large institutional investors in the United States, avoiding SEC registration and to non-U.S. investors in reliance on Regulation S. A Level I program can be established alongside a 144A program. Global Depositary Receipts (GDR) GDRs are securities available in one or more markets outside the companys home country. (ADR is actually a type of GDR issued in the US, but because ADRs were developed much earlier than GDRs, they kept their denotation.) The basic advantage of the GDRs, compared to the ADRs, is that they allow the issuer to raise capital on two or more markets simultaneously, which increases his shareholder base. They gained popularity also due to the flexibility of their structure. GDR represents one or more (or fewer) shares in a company. The shares are held by the custody of the depositary bank in the home country. A GDR investor holds the same rights as the shareholders of ordinary shares, but typically without voting rights. Sometimes voting rights can be the executed by the depositary bank on behalf of the GDR holders. Mechanism DR Trade A Depositary Receipt is a negotiable security which represents the underlying securities (generally equity shares) of a non-U.S. company. Depositary Receipts facilitate U.S. investor purchases of non-U.S. securities and allow non-U.S. companies to have their stock trade in the United States by reducing or eliminating settlement delays, high transaction costs, and other potential inconveniences associated with international securities trading. Depositary Receipts are treated in the same manner as other U.S. securities for clearance, settlement, transfer, and ownership purposes. Depositary Receipts can also represent debt securities or preferred stock. The Depositary Receipt is issued by a U.S. depositary bank, such as The Bank of New York, when the underlying shares are deposited in a local custodian bank, usually by a broker who has purchased the shares in the open market. Once issued, these certificates may be freely traded in the U.S. over-the-counter market or, upon compliance with U.S. SEC regulations, on a national stock exchange. When the Depositary Receipt holder sells, the Depositary Receipt can either be sold to another U.S. investor or it can be canceled and the underlying shares can be sold to a non-U.S. investor. In the latter case, the Depositary Receipt certificate would be surrendered and the shares held with the local custodian bank would be released back into the home market and sold to a broker there. Additionally, the Depositary Receipt holder would be able to request delivery of the actual shares at any time. The Depositary Receipt certificate states the responsibilities of the depositary bank with respect to actions such as payment of dividends, voting at shareholder meetings, and handling of rights offerings. Depositary Receipts (DRs) in American or Global form (ADRs and GDRs, respectively) are used to facilitate cross-border trading and to raise capital in global equity offerings or for mergers and acquisitions to U.S. and non-U.S. investors. Demand For Depositary Receipts The demand by investors for Depositary Receipts has been growing between 30 to 40 percent annually, driven in large part by the increasing desire of retail and institutional investors to diversify their portfolios globally. Many of these investors typically do not, or cannot for various reasons, invest directly outside of the U.S. and, as a result, utilize Depositary Receipts as a means to diversify their portfolios. Many investors who do have the capabilities to invest outside the U.S. may prefer to utilize Depositary Receipts because of the convenience, enhanced liquidity and cost effectiveness Depositary Receipts offer as compared to purchasing and safekeeping ordinary shares in the home country. In many cases, a Depositary Receipt investment can save an investor up to 10-40 basis points annually as compared to all of the costs associated with trading and holding ordinary shares outside the United States. Issuance Depositary Receipts are issued or created when investors decide to invest in a non-U.S. company and contact their brokers to make a purchase. Brokers purchase the underlying ordinary shares and request that the shares be delivered to the depositary banks custodian in that country. The broker who initiated the transaction will convert the U.S. dollars received from the investor into the corresponding foreign currency and pay the local broker for the shares purchased. The shares are delivered to the custodian bank on the same day, the custodian notifies the depositary bank. Upon such notification, Depositary Receipts are issued and delivered to the initiating broker, who then delivers the Depositary Receipts evidencing the shares to the investor. Transfer (Intra-Market Trading) Once Depositary Receipts are issued, they are tradable in the United States and like other U.S. securities, they can be freely sold to other investors. Depositary Receipts may be sold to subsequent U.S. investors by simply transferring them from the existing Depositary Receipt holder (seller) to another Depositary Receipt holder (buyer); this is known as an intra-market transaction. An intra-market transaction is settled in the same manner as any other U.S. security purchase. Accordingly, the most important role of a depositary bank is that of Stock Transfer Agent and Registrar. It is therefore critical that the depositary bank maintain sophisticated stock transfer systems and operating capabilities. What are Indian Depository Receipts (IDRs)? IDRs are transferable securities to be listed on Indian stock exchanges in the form of depository receipts created by a Domestic Depository in India against the underlying equity shares of the issuing company which is incorporated outside India. As per the definition given in the Companies (Issue of Indian Depository Receipts) Rules, 2004, IDR is an instrument in the form of a Depository Receipt created by the Indian depository in India against the underlying equity shares of the issuing company. In an IDR, foreign companies would issue shares, to an Indian Depository (say National Security Depository Limited NSDL), which would in turn issue depository receipts to investors in India. The actual shares underlying the IDRs would be held by an Overseas Custodian, which shall authorise the Indian Depository to issue the IDRs. The IDRs would have following features: Overseas Custodian: Foreign bank having branches in India and requires approval from Finance Ministry for acting as custodian and Indian depository has to be registered with SEBI. Approvals for issue of IDRs : IDR issue will require approval from SEBI and application can be made for this purpose 90 days before the issue opening date. Listing : These IDRs would be listed on stock exchanges in India and would be freely transferable. Eligibility conditions for overseas companies to issue IDRs: Capital: The overseas company intending to issue IDRs should have paid up capital and free reserve of atleast $ 100 million. Sales turnover: It should have an average turnover of $ 500 million during the last three years. Profits/dividend : Such company should also have earned profits in the last 5 years and should have declared dividend of at least 10% each year during this period. Debt equity ratio : The pre-issue debt equity ratio of such company should not be more than 2:1. Extent of issue : The issue during a particular year should not exceed 15% of the paid up capital plus free reserves. Redemption : IDRs would not be redeemable into underlying equity shares before one year from date of issue. Denomination : IDRs would be denominated in Indian rupees, irrespective of the denomination of underlying shares. Benefits : In addition to other avenues, IDR is an additional investment opportunity for Indian investors for overseas investment. Taxation issues for Indian Depository Receipts (IDRs) Standard Chartered Bankss Indian Depository Receipts (IDR) issue may raise concerns relating to tax treatment, the draft red herring prospectus (DRHP) filed by the bank with SEBI said. The UK-based banks draft red herring prospectus was uploaded on the SEBIs website in end-March. The Income Tax Act and other regulations do not specifically refer to the taxation of IDRs. IDRs may therefore be taxed differently from ordinary listed shares issued by other companies in India, the prospectus said. In particular, income by way of capital gains may be subject to a higher rate of tax. The introduction of the Direct Tax Code from the next fiscal may also alter tax treatment of Indian Depository Receipts. The tax treatment in future may also vary depending on the provisions of the proposed Direct Taxes Code which is currently due to take effect from April 1, 2011, and which is only in draft form at this time, Standard Chartered PLC has mentioned among the possible risk factors. Economic development and volatility in the securities markets in other countries may cause the price of the IDRs to decline, the prospectus said. Any fluctuations that occur on the London Stock Exchange or the Hong Kong Stock Exchange that affect the price of the shares may affect the price and trading of the IDRs listed on the stock exchanges. Further, the draft red herring prospectus states to what extent IDRs are legal investments, whether they can be used as collateral for various types of borrowing, and whether there are other restrictions that apply to purchase or pledge of the Indian Depository Receipts. How are IDRs different from GDRs and ADRs? GDRs and ADRs are amongst the most common DRs. When the depository bank creating the depository receipt is in the US, the instruments are known as ADRs. Similarly, other depository receipts, based on the location of the depository bank creating them, have come into existence, such as the GDR, the European Depository Receipts, International Depository Receipts, etc. ADRs are traded on stock exchanges in the US, such as Nasdaq and NYSE, while GDRs are traded on the European exchanges, such as the London Stock Exchange. How will the IDRs be priced, and will cross-border trading be allowed? IDRs will be freely priced. However, in the IDR prospectus, the issue price will have to be justified as is done in the case of domestic equity issues. Each IDR will represent a certain number of shares of the foreign company. The shares will be listed in the home country. Normally, the DR can be exchanged for the underlying shares held by the custodian and sold in the home country and vice-versa. However, in the case of IDRs, automatic fungibility i.e. the quality of being capable of exchange or interchange is not permitted. What are the benefits of issuing IDRs to companies? Currently, there are over 2,000 Depositary Receipt programs for companies from over 70 countries. The establishment of a Depositary Receipt program offers numerous advantages to non-U.S.companies. The primary reasons to establish a Depositary Receipt program can be divided into two broad considerations: capital and commercial. Advantages Expanded market share through broadened and more diversified investor exposure with potentially greater liquidity. Enhanced visibility and image for the companys products, services and financial instruments in a marketplace outside its home country. Flexible mechanism for raising capital and a vehicle or currency for mergers and acquisitions. Enables employees of U.S. subsidiaries of non-U.S. companies to invest more easily in the parent company. Quotation in U.S. dollars and payment of dividends or interest in U.S. dollars. Diversification without many of the obstacles that mutual funds, pension funds and other institutions may have in purchasing and holding securities outside of their local market. Elimination of global custodian safekeeping charges, potentially saving Depositary Receipt investors up to 10 to 40 basis points annually. Familiar trade, clearance and settlement procedures. Competitive U.S. dollar/foreign exchange rate conversions for dividends and other cash distributions. Ability to acquire the underlying securities directly upon cancellation. Benefit for Investors They allow global investing opportunities without the risk of investing in unfamiliar markets, ensure more information and transparency and improve the breadth and depth of the market. Increasingly, investors aim to diversify their portfolios internationally. However, obstacles such as undependable settlements, costly currency conversions, unreliable custody services, poor information flow, unfamiliar market practices, confusing tax conventions and internal investment policy may discourage institutions and private investors from venturing outside their local market. Why will foreign companies issue IDRs? Any foreign company listed in its home country and satisfying the eligibility criteria can issue IDRs. Typically, companies with signifi-cant business in India, or an India focus, may find the IDR route advantageous. Similarly, the foreign entities of Indian companies may find it easier to raise money through IDRs for their business requirements abroad. Besides IDR there are several other ways to raise money from foreign markets Alternative Available Foreign Currency Convertible Bonds (FCCBs): FCCBs are bonds issued by Indian companies and subscribed to by a non-resident in foreign currency. They carry a fixed interest or coupon rate and are convertible into a certain number of ordinary shares at a preferred price. This equity component in a FCCB is an attractive feature for investors. Till conversion, the company has to pay interest in dollars and if the conversion option in not exercised, the redemption is also made in dollars. These bonds are listed and traded abroad. The interest rate is low  [1]  but the exchange risk is more in FCCBs as interest is payable in foreign currency. Hence, only companies with low debt equity ratios and large forex earnings potential opt for FCCBs. The scheme for issue of FCCBs was notified by the government in 1993 to allow companies easier access to foreign capital markets. Under the scheme, bonds up to $50 million are cleared automatically, those up to $100 million by the RBI and those above that by the finance ministry. The minimum maturity period for FCCBs is five years but there is no restriction on the time period for converting the FCCBs into shares. External Commercial Borrowings (ECBs): Indian corporate are permitted to raise finance through ECBs (or simply foreign loans) within the framework of the policies and procedures prescribed by the Government for financing infrastructure projects. ECBs include commercial bank loans; buyers/suppliers credit; borrowing from foreign collaborators, foreign equity holders; securitized instruments such as Floating Rate Notes (FRNs) and Fixed Rate Bonds (FRBs); credit from official export credit agencies and commercial borrowings from the private sector window of multilateral financial institutions such as the IFC, ADB and so on. While the ECB policy provides flexibility in borrowings consistent with maintenance of prudential limits for total external borrowings, its guiding principles are to keep borrowing maturities long, costs low and encourage infrastructure/core and export sectors financing, which are crucial for overall growth of the economy Since 1993, many of the firms have chosen to use the offshore primary market instead of the domestic primary market for raising resources. The factors that can be attributed to this behaviour are as follows. (i) The time involved in the entire public issue on the offshore primary market is shorter and the issue costs are also low as the book building procedure is adopted. (ii) FIIs prefer Euro issues as they do not have to register with the SEBI nor do they have to pay any capital gains tax on GDRs traded in the foreign exchanges. Moreover, arbitrage opportunities exist as GDRs are priced at a discount compared with their domestic price. (iii) Indian companies can collect a large volume of funds in foreign exchange from international markets than through domestic market. (iv) Projections of the GDP growth are very strong and consistent which have created a strong appetite for Indian paper in the overseas market. (v) An overseas issuance allows the company to get exposure to international investors, thereby increasing the visibility of Indian companies in the overseas market. Money Raising Instruments in India Qualified institutions placement (QIP): A designation of a securities issue given by the SEBI that allows an Indian-listed company to raise capital from its domestic markets without the need to submit any pre-issue filings to market regulators, which is lengthy and cumbersome affair. SEBI has issued guidelines for this relatively new Indian financing avenue on May 8, 2006. Prior to the innovation of the qualified institutional placement, there was concern from Indian market regulators and authorities that Indian companies were accessing international funding via issuing securities, such as American depository receipts (ADRs), in outside markets. This was seen as an undesirable export of the domestic equity market, so the QIP guidelines were introduced to encourage Indian companies to raise funds domestically instead of tapping overseas markets. QIP has emerged as a new fund raising investment for listed companies in India. The issue process is not only simple but can be completed speedily. QIP issue can be offered to a wider set of investors including Indian mutual funds, banks, insurance companies and FIIs. A company sells its shares to qualified institutional buyers (QIBs) on a discretionary basis with the two-week average price being the floor. In a QIP, unlike an IPO or PE investment, the window is shorter (four weeks) and money can be raised quickly. This rule came into being after SEBI changed the pricing formulae. Earlier, the pricing was based on the higher of the six-month or two-week average share price This turned out to be a dampener in a volatile market However, merchant bankers gave the feedback that the two-week average price often worked out to be higher than the current market price. As such, many investors were reluctant to take a mark-to-market loss on their books right from the start. Rights issues: In other words, it is the issue of new shares in which existing shareholders are given preemptive rights to subscribe to the new issue on a pro-rata basis. Such an issue is arranged by an investment bank or broker, which usually makes a commitment to take up its own books any rights that are not sold as part of the issue. The right is given in the form of an offer to existing shareholders to subscribe to a proportionate number of fresh, extra shares at a pre-determined price. In India rights market has been a favoured capital mobilizing route for the corporate sector. However, this market has shrunk significantly in India over the years. This is due to an absence of a trading platform for the post issue trading rights. Private placement: The direct sale of securities by a company to some select people or to institutional investors (financial institutions, corporates, banks, and high net worth individuals) is called private placement. In other words, private placement refers to the direct sale of newly issued securities by the issuer to a small number of investors through merchant bankers. Company law defined privately placed issue to be the one seeking subscription from 50 members. No prospectus is issued in private placement. Private placement covers equity shares, preference shares, and debentures  [2]  . It offers access to capital more quickly than the public issue and is quite inexpensive on account of the absence of various issue expenses. In recent years resource mobilization through private placement route has subdued. The reason is stricter regulations introduced by RBI and SEBI starting from early 2000s on private placements. When RBI found that banks and institutions had larger exposure in the private placement market, it has issued guidelines to banks and financial institutions for investment in such cases.  [3]   Comparison ADR/GDR Vs. QIP The First Wave of Indian Fundraising: QIPs Unitech set the QIP ball rolling on what is really the first major wave of Indias recent fund-raising jamboree. Indian companies raised US$24 billion in the April-June quarter of 2009, according to data from Delhi-based research firm Prime Database. Of this, 56% was raised in the last week of June, an indicator of the increasing tempo of action. According to Prime Database chairman Prithvi Haldea QIPs cornered over 96% of the total money mobilized during that quarter. Ten QIPs were issued, totaling US$22.5 billion. The leading issuers included Unitech (US$900 million) Indiabulls Real Estate (US$530 million) HDIL (US$330 million) Sobha Developers (US$100 million) Shree Renuka Sugars (US$100 million) PTC (US$100 million). Hong Kong-based Finance Asia magazine said in its headline that India has gone QIP crazy But as other instruments started gaining favor the QIP wave appeared to be weakening. The QIBs dont see a huge bargain any longer. When companies were relatively desperate for funds, they were offering prices that left a lot on the table for buyers. Unitech is a case in point. The first issue gave returns of 100% plus. A record Rs 34,100 crore were raised by the 51 QIPs made during the year 2009 According to a study by rating agency Crisil, most QIPs in 2009 were actually making losses for investors. The study used the prices on July 10, although the markets have improved since then. Still, says Crisil, as of that date, if you leave out the first Unitech issue, the total return on all QIPs was a negative 12%. As per head of equities at CRISIL We expect raising capital through the QIP route may slow down significantly, He further explains that the significant run up in stock prices before the Union Budget made QIP deals unattractive. The reason being that shrewd investors made their decisions based on company fundamentals and there was no reason to believe that the inherent fundamentals of most companies which queued up for QIPs have changed materially. Not all QIPs have been successful. GMR Infrastructure received its shareholders permission to raise up to US$1 billion through this route. According to merchant bankers, it came to the market with an offering of US$500 million, then reduced both the size of the offering and the price in the face of a tepid response, and finally withdrew altogether. However, according to Haldea, several more QIPs including Hindalco, Cairn Energy, GVK Power, HDFC, JSW Steel, Essar Oil, Parsvanath and Omaxe are waiting in the wings, looking to raise more than US$12 billion. QIPs could become attractive again if the market falls or if companies start offering large discounts, investment experts say. Increased Activity for ADR/GDR The slowdown in the QIP wave does not mean that foreign investors who, as in the Unitech issue, were the principal buyers have lost interest in India. In fact, the reverse could be true. Indian fundraising has now embarked on its second wave through American Depository Receipts (ADRs) and Global Depository Receipts (GDRs). (ADRs are foreign stock stand-ins traded in U.S. exchanges but not counted as foreign stock holdings. A U.S. bank buys the shares on a foreign market and trades a claim on those shares. Many U.S. investors are attracted to ADRs because these securities may meet accounting and reporting standards that are more stringent than

How Have I Changed As A Writer? :: Essays Papers

In the past three months I feel like I have accomplished a great deal. As the semester comes to an end I find myself reflecting not only how I have survived the first semester but also what I have learned. The most important thing I have learned so far is how to become a better writer. I did not think it could really happen to me. I did not think I could handle all the work. I did not think I could actually become a better writer. Some how after all the hours of writing, and putting effort into the papers that I wrote this semester, I became a better writer. I did this because I concentrated on two very important areas, with the attitude of, if I could just become better in those then I would become a better writer. With help from an awesome teacher and a reliable tutor I have become a better writer by improving my skills in the areas of procrastination and content. Procrastination has become such a bad habit for me. It is very hard to stop procrastinating everything once you have gotten into the habit of doing it. Once I had a term paper due for my religion class. It was to be ten pages long and we were told to spend a lot of time doing it. Being the procrastinator that I am, I waited to the very last minute to do it. I waited until the night before to do most of it. Needless to say, I was up very late that night. In this class there was always a part of the paper due on a certain date before the final paper was due. Having things due before the final paper is due keeps me on task and keeps me from procrastinating until the day before the paper is due. There was one paper which we had to get sources for a while before the paper was due and it forced me to keep up with the paper, rather than let it go to the last minute. This class has taught me that the earlier you start the more positive your final result will be.

Revelations Brought Forth from the Scaffolding Scenes in The Scarlet Letter :: essays research papers

Within the Scarlet Letter by Nathaniel Hawthorne the imagery of revelation works as a reoccurring theme to bring the reader into the characters view of the incidences going on before them. These ‘revelations’, scattered throughout the story, work as awakenings or realizations of the current situation that the character is presently in or situations they may have to face in the future. All of the characters presented into the story have revelations of some sort. One key discovery theme used in this story is the realization of identification; this is presented as the characters previously thinking they knew somebody and what they stood for, yet they are proved wrong in their beliefs. Another reoccurrence of a theme, used in the story, is the usage of the scaffolding in the center of town to unfold a revelation in the characters lives. The scaffolding situation takes place three times within the story, each time with a different circumstance and a change of the witnesses t o the scene; but with a revelation that slightly changes the character from what they were before they stood upon the scaffolding. The first instance when the scaffolding appears is the beginning of the story when Hester Prynne is sentenced to stand upon it, bearing her child and the ominous letter ‘A’, for a set time as her punishment for adultery. This takes place during the day as the entire town is placed before to observe. The second scene of scaffold revelation brings the Reverend Dimmesdale to the top of the platform alone as he attempts to lift the weighty guilt off of his chest. Finally, towards the end of the story, we see Hester, Reverend Dimmesdale, and their child, Pearl standing together in front of the judging crowd. In each of these scenes the revelations captured in that moment by the character or characters remain pivotal parts of story and ultimately of the characters lives. The first scaffolding scene serves as a revelation to, I believe, everyone in the town. Hester’s crime surely must have touched somebody in the large crowd with a revelation of their own guilt. Shame for a past covered sin or perhaps contempt, as even contempt is a sin that should yield shame, for Hester, herself, was most likely felt in many of the townsfolk that day. Yet, the main revelations coming forth in this scene were brought forth by the realizations of the situations each character found his or herself presently in.

Arthur Birling and inspector goole Essay

      Priestley shows this in the section after the inspector has left â€Å"I remember what he said, how he looked, how he made me feel. Fire and blood and anguish. † This shows the affect that he had on certain characters was very big. In his closing speech the Inspector left with a warning; â€Å"And I tell that the time will soon come when, if men will not learn that lesson, then they will be taught it in fire and blood and anguish. † This could be referring to the first world war, where men from all different backgrounds, and classes, would have to stand together, as equals, and fight for their country. This contradicts Mr Birling’s prediction at the start of Act 1; â€Å"Just because the Kaiser makes a few speeches†¦ The Germans don’t want war. Nobody wants war,† This shows the difference between the philosophies of the Inspector and Birling, it also demonstrates Priestley’s idea that Mr Birling’s capitalist views are wrong, and how the Inspector, who is right about war, is probably right about everything else. Priestley uses this to show the benefits a socialist society would bring to the world. Priestley is suggesting that Birling’s â€Å"every man for himself† idea will end in tragedies like Eva. Whereas the Inspector’s Philosophy of shared responsibility would avoid such terrible events. The experience of the Inspector’s questions changes some characters, but has no effect on others. It starts off with all of the family sitting down feeling no guilt whatsoever, but after the Inspector comes Eric and Sheila realise the seriousness of what they have done, whilst the others, at this point believing it is a practical joke, feel no guilt. What Mr and Mrs Birling and Gerald didn’t seem to understand is that even if it wasn’t the same girl (and no one was sure if it was or not) that they still did these cruel actions, and millions of other people do similar things without knowing the consequences, many young men and women will come to a similar end. Another point to the structure of the play is that the inspector only reveals small parts of Eva’s story to certain characters, never letting more than one person see the photograph at once. This gives the twist at the end more mystery. The Inspector affected different characters differently, depending on how much they understand what was going on in the world at that point in time. Mr Birling was affected slightly at the start, but being a weak character, and because of his wife’s superior class always follows her lead. Therefore after watching his wife’s interrogation, and seeing the way she refused to give in to the Inspector, and not feel guilty about what she has done, he follows suit. He and Mrs Birling were the least affected characters, in the end, possibly because they didn’t understand what life would have been like for Eva Smith without all the things they did to her. Gerald felt very guilty at first, because he had feelings for her, but then he went for a walk and didn’t feel as guilty anymore. This is probably because Gerald has grown up used to money, and inherited his parent’s capitalist views. Eric and Sheila were most affected by the Inspector, especially his final words, this is shown when Sheila repeats them â€Å"Fire and blood and aguish. † Sheila and Eric understand most about what goes on in the world, this is demonstrated early on † but what about war? † and when Sheila knows about Eric’s drinking problem. They understand more that this sort of thing can happen to people, and these small actions can lead people to commit suicide, this is probably why the inspector affected them more. After watching the play, the audience can interpret the character of Inspector Goole in many different ways. You could think of him just as a normal man, who, having heard of the Birling family’s selfish acts, wishes to help them change for the better. Or he could be a conscience to make them feel guilty about what they’ve done, and stop distancing themselves from the working class. He could also be the ghost of Eva Smith in another form to make them pay for what they’ve done. His surname also indicates this as it is a homonym of ghoul, another word for ghost. I conclude that Birling represents the views of capitalists and the inspector represents the views of socialists. Priestley makes Birling a weak, unintelligent, ignorant and Selfish character who rambles on a bit and desperate to fit in with the higher class that he follows his wife’s lead. Sybil seems to guide her husband, Telling him what he should or shouldn’t say, this is made evident when she disapproves with him saying: â€Å"Good dinner too – Sybil tell cook for me. † Mrs Birling would disapprove because saying what good food it was, wasn’t considered a polite thing because it is like fishing for compliments from Gerald. She doesn’t like him saying tell cook for me because it implies they talk to their servants, which wouldn’t have been done in those days. Birling also copies Gerald’s father’s (his social superior) choice of wine, to make Gerald think that he is marrying into a family with as much money as his. In contrast, Priestley makes the inspector appear as a person who speaks carefully, is intelligent, knows what is going on in the world, is very strong and comes across as a kinder, selfless person; Priestley uses this to make the audience think that a socialist society will provide a fairer, more just solution to the world’s problems.

United States Declaration of Independence and People

PLS201 Reading Notes 1 Concepts of Politics and American Politics STUDY: Lecture Notes 1, and We the People, chapter 1 Be informative, rigorous, critical. Provide specific, page-indicated references to the text. NOTE1A 15 lines.In chapter one of We the People the authors address the question of how government is made up of the institutions and procedures by which people are ruled in terms of four propositions: 1) Different forms of government are defined by power and freedom; 2) Limits on government encourage freedom; 3) Expansion of participation in America changed the political balance; 4) The goal of politics is having a say in what happens. Organize your paragraph into four or five sentences identifying the main characteristics of these concepts, as established by the authors.The authors present a concept where the amount of power the government holds and how much freedom people have defines different forms of government. When comparing a Monarchy versus a Democracy, we can clear ly see the differences within the two forms of government. Within a Monarchy, supreme power is bestowed upon one individual whereas Democracy is based on a principle of equality and freedom. The limitations placed upon the government allow the people to have a voice in politics while strengthening the principle above.This balance of power gives the people the ability to voice their opinions. Rather than being another â€Å"person† within a society, Americans are citizens who can influence the government in many ways. This expansion of participation lead to more people having legal rights to participate in politics where they can vote, send letters, lobby, and participate in protest marches and demonstrations. All of this ties back to how American Democracy, unlike many other forms of government, aims to give people a voice while developing the meaning behind â€Å"we the people. †NOTE1B 10 lines. In this same chapter one, the following section examines how the identity of Americans has changed over time, the impact of diversity and race, but in the end, the authors observe, â€Å"the country still confronts the question of who are the Americansâ€Å". Explain, please, what is this about, what is at stake, how do the authors explain it. Even though the American government focuses on the principle of equality and freedom and giving people a voice within this government, they still stumble on a simple question of who are the Americans and what defines them.The government faces a constant flow of immigrants and increasing ambiguity of racial categories raising challenging questions about politics and governing arrangements. Population growth has also spurred debates on how congressional districts should be apportioned. The paradox of the American identity is that although America is a melting pot of different traditions, ethnic backgrounds, and ideology, there are nevertheless distinctive qualities that define who Americans are. The diversity of ci tizens created what America became, a country developed from the ideas of equality and freedom. NOTE1C 15 lines.Concluding chapter one, the authors make an interesting declaration, that America is built on the ideas of liberty, equality, and democracy. They then discuss it in terms of four propositions: 1) that liberty means freedom, 2) that equality means treating people fairly, 3) democracy means that what the people want matters, 4) that American political values conflict. Okay, now, read it and summarize the main of these concepts, about 3-line each. â€Å"Life, liberty, and the pursuit of happiness,† in the Declaration of Independence exemplifies the inalienable rights which is based on the idea that all men are created equal.For Americans, liberty is â€Å"freedom from government control, and also economic freedom. † Going back to the idea of limited powers within government to allow freedom, the people have the right to alter or abolish the government to institu te a new one for their safety and happiness. When thinking in terms of equality, it can be interpreted in different ways. Equality of opportunity allows the people to reach their fullest potential and political equality refers to the right to participate in politics where every person can vote.In addition to this, political authority rests in the hands of the people, also known as popular sovereignty. The idea of majority rule with minority rights also plays a key role within the government because it allows for the preference of the majority of voters but still protects the interests of the minority. (21) Conflict helps set policies and laws because it considers both sides of any argument and prevents any discrimination against the disabled, elderly, etc. A NOTE ON FORMATThis is a 1- to 2-page, typewritten, single-spaced, font 12 reading note. Write your note where it says text and according to the indicated lines, etc. Your note must reflect you have read and are referring in your writing to the study materials established for this course unit. All references must be credited by indicating the page number in parenthesis. Edit your text before printing it. Once you are sure you are done with the assignment, check that your name and date are written above, print it, and bring it to class as scheduled.

Investigating the effect of pH on the activity of phosphatase enzymes

My aim in this experiment is to see how well an enzyme (phosphatase in this case) reacts under a controlled temperature but a varying pH. Enzymes are known to be effected by pH and temperature. Both of these change how quickly the enzyme can process a substrate, so perfect matches must be found for each enzyme. At a low temperature, the enzymes reaction is so slow that any product is hardly noticeable. At a high temperature, or an extreme pH, the active site of the enzyme is damaged, so the substrate cannot be processed. I predict that the optimal pH for the reaction to take place will be more acidic when the temperature is set at 25o c and the length of incubation is 10 minutes. A suitable pH would be between 3 – 5oc. I conducted preliminary experiments and chose to incubate at 25o c instead of the higher temperatures for the simple reason that I knew that at a higher temperature (around 35o c), the reaction would go at its fastest, and I ran the risk of high magenta values (I wanted to keep them all under 1 so they could be easily compared). I therefore wanted to see what would happen at lower than 35o c as far as reactions were concerned, so I chose 25o c. My method was adapted from a worksheet on varying the temperature in the same reaction, keeping pH constant. 1. Label a microfuge tube with your initials. 2. Place two mung beans into the labeled tube. 3. Add 0.5ml distilled water into the tube containing the beans. 4. Crush and macerate the beans with a small glass/plastic rod. 5. Take a second microfuge tube and add water to the same level as the one containing the mung beans. (TO BALANCE THE CENTRIFUGE RACK) 6. Place the tubes into opposite holes of the centrifuge rack and spin for 5 minutes at maximum speed 7. After spinning, draw off as much of the clear supernatant above the pellet as possible and place into a clean microfuge tube. This solution now contains the enzymes for the experiment. 8. Using a graduated pipettor, add 100?l of sodium carbonate (the buffer solution in this experiment). 9. Then add 20?l PPP substrate to each of the eight microfuge tubes. Wash the pippettor thoroughly. 10. Finally, add 20?l enzyme solution into it. 11. Repeat steps 8 through 10 as quickly as possible, to collect all the microfuge tubes. Now insert them into a Styrofoam float and place this on the surface of the water bath for 10 minutes, timed with a stop clock. 12. Now add 100?l Sodium Carbonate to stop the reactions. 13. Estimate the colour of the magenta using the magenta filters provided. The possible variables in this method are the volumes of substrate, enzyme and sodium carbonate along with the time in the water bath and the temperature of the water bath. The volumes will be measured as closely as possible with a micropippettor. Results: The number in the test tube column is the magenta filter that corresponded to the colour of the completed reaction. The higher numbers mean more reaction, lower means less reaction. Every time that I added the sodium carbonate to cancel the reaction, the colour change to magenta was sudden and with a small amount of shaking, the whole liquid was tinted purple. I managed to take 2 readings for each pH, and therefore average them. Without doing the preliminary experiment, I would have never known what temperature to try. This graph shows clearly how good my results were. They fit with my prediction that the optimum pH for a Phosphate enzyme is around pH 3-5, and therefore we can say that it requires a more acidic pH than an alkaline one. My conclusion, using this graph as evidence, is that a Phosphate enzyme works at its maximum speed at a lower pH, in this experiment pH 4, taking into account the other variables in the experiment. For instance, at a different water temperature, the pH required may vary. As mentioned before, as the temperature raises, so does the probability of denaturation. From the results, I assume this is beginning to happen before pH 5. But these results are not precise. I have no way of knowing which side of pH 4 the reaction is faster, i.e. if pH 3.9 is faster than pH 4, or pH 4.1. The pH4 that I got as being the fastest speed may not be the pinnacle of the reaction curve. Huge accuracy errors could have been made, for instance: * Was the precise equal amount of liquid put in each of the tubes? Probably not, the micropipette was hard to use and had very small scales. * Some reactions began before others when preparing to put the microfuge tubes into the water bath. You had to work incredibly quickly to prepare all of the tubes in as fast a time as possible. However, seeing how precise my results were, either I made the same mistakes over and over, therefore giving a whole set of incorrect results, or I did them all very well. This is the risk in using this method. If I were to change the method, I would get far more precise pipettes and find a way of adding the enzyme into the solution as quickly as possible, like getting 8 micropipettes filled and ready, then using one for each microfuge tube in quick succession. If this experiment was to be taken further, I would get people to work together and double check their accuracy as they go, so that they can do the final step before incubation in half the time or less. Instead of changing the pH, they could change the variable concerning the temperature of the water bath to be incubated in. Another possibility is that the different volumes could be changed to see how the results vary, of course only one at a time. For example, change the amount of enzyme to be put into the mixture, continue the experiment with other set variables and see what type of results you get.

Ethnic Literature Essay

The term â€Å"ethnic† when in conjunction with the word â€Å"literature† in the academic discourse community of students, often brings out mixed feelings of excitement and dread. On the one hand, students understand that they will be getting away from the canonical American literature – which can equal boring in their eyes; on the other hand, students interpret the term â€Å"ethnic literature† to mean distinctive – which can equal confusing or ambiguous – and perhaps at times not relatable because it is outside their scope of experiences. Perhaps before jumping into why it matters, the term â€Å"ethnic literature† should be defined first and because I am still learning how to interpret this term myself, I searched for a suitable one I could agree with. I found one in an article entitled â€Å"Assessing Teachers’ Knowledge of Multi-Ethnic Literature†, and the article actually used another source themselves to come up with a workable, layman’s definition. Ethnic literature as defined by D.E. Norton (as the article’s source) is, â€Å"Literature about racial or ethnic minority groups that are culturally and socially different from the white Anglo-Saxon majority in the United States, whose largely middle-class values and customs are most represented in American literature† (qtd. in Hager & Thompson 22). I think this definition works well to define what ethnic literature is on a surface level, but the more I dig in, I feel that this idea goes much deeper. I asked myself, who can write about ethnic literature? Can anyone just pick up a pen so to speak and tell a story about a young Japanese boy, or a Hispanic family? Can an African-American writer write about Hispanic or Chinese people and claim it is ethnic literature? And the answer to myself is no. Why? Because unless that African-American has been submersed in the Hispanic or Japanese culture from the time of childhood, how are they going to capture the very essence of being, thinking, and living day-to-day in that culture? And even if that African-American had, they would still most likely have a different perspective from the average Hispanic or Chinese person because of being different themselves (i.e black) and perhaps are treated different by the community at large which corrupts the â€Å"normal† cultural thinking. At this deeper level I am trying to get at, I find John M. Reilly’s article â€Å"Criticism of Ethnic Literature: Seeing the Whole Story† helpful in acquiring this. He states that, â€Å"the assertion of ethnicity in literature can be made only through a procedure by which the writer resolves formal problems†¦ what moves from recognition of identity to creation of a strategy for handling reality still is not literature until the individual author sustains her or his ethnic identity through a sequence of formal choices† (4). I am interpreting this to mean that as a reader of this literature, I should see and feel throughout the story (perhaps subtlety) that in some way, the characters mindset (and perhaps actions) in the story differ from my own specifically because of the culture they have grown up in in, which has shaped that character’s thinking. There are thoughts and feelings – ideas, I don’t understand without further explanation from the author, which is sometimes provided, and sometimes not. An example of this is in Brando Skyhorse’s novel The Madonnas of Echo Park, I find myself wondering what the significance of the jacaranda trees mentioned in different parts of the book. Looking up what they are, it becomes apparent to me as jacaranda trees are native to Central America – roots back to their homeland. The blossoms from the trees fall and are scattered everywhere. Felicia in chapter 2 states that â€Å"there’s no way getting away from them† (25). Basically meaning, you cannot escape who you are and where you come from. I would not have understood this had I not explored the history of that tree to uncover the significance in the book. Another example is in Seventeen Syllables in the story â€Å"Seventeen Syllables†. The story about a Japanese family is easy to read, but is hard to connect with as I don’t share the same philosophies about a woman’s place in the Japanese culture. A specific instance in the story was when Mrs. Hayashi, Rosie’s mother received her the first place prize for her stellar Haiku. When the man from the newspaper presented her with a package, Mrs. Hayashi, stating she knew it was unorthodox, asked if she might open it because she was very curious. (Yamamoto 17). At this point, I am thinking to myself, â€Å"I don’t get it – why wouldn’t she open it?† but upon reflection, I considered the patriarchal society that is dominant in this culture, and perhaps it is the wife’s obligation to consult or have the husband open the gift, even if it is not specifically for him. Yet another example is in Oscar Wao by Junot Diaz. To come specifically to the point, I do not understand this idea of why it is understood that Dominican men are supposed to be these â€Å"manly men† that women flock to and fall on their knees for. That the sexual appetite along with innate sense of charisma from Dominican men is expected, and when it’s lacking, it doesn’t go unnoticed. â€Å"Anywhere else his triple-zero batting average with the ladies might have passed without comment, but this is a Dominican kid we’re talking about, in a Dominican family: dude was supposed to have Atomic Level G, was supposed to be pulling in the bitches with both hands† (24). Why is this idea so indoctrinated in this culture according to the book? This is perhaps something I will never understand, except that it is a part of their culture. All of these examples are all good and well, but the important question is why is ethnic literature important? What can be gained from reading it? From a most basic viewpoint, it is a highly effective vehicle for helping people understand themselves and the world around them. Thompson and Hager in their article state that, â€Å"multi-ethnic literature mirrors and validates the experiences for minority groups and juxtaposes the familiar with the less familiar for mainstream children† (22). In other words, through reading ethnic literature, readers can find ways to connect with others around them that are different. The article also states that when readers are exposed to divergent thoughts, language patterns, value systems, and different ways of living, that it can open up awareness about others and create compassion and understanding towards them that might not have happened without the literary exposure (23). To sum it all up, I will never argue against the instruction of ethnic literature in the school setting. In fact, I think teaching it should begin right from the beginning in kindergarten, and perhaps one day we won’t need the designated term â€Å"ethnic literature† – perhaps one day it can just be â€Å"American Literature† and part of the regular American canon of literature. Works Cited Diaz, Junot. The Brief and Wondrous Life of Oscar Wao. New York: Penguin, 2007. Print. Reilly, John. M. â€Å"Criticism of Ethnic Literature: Seeing the Whole Story†. Critical Approaches to Ethnic Literature. 5.1 (1978): 2-13. Web. 21 Apr. 2012. Skyhorse, Brando. The Madonnas of Echo Park. New York: Free Press, 2010. Print. Thompson, Deborah L. and Jane Meeks Hager. â€Å"Assessing Teachers’ Knowledge of Multi-Ethnic Literature†. Yearbook of the American Reading Forum. 1990. 21-29. Web. 21 Apr. 2012. Yamamoto, Hisaye. Seventeen Syllables. New Brunswick, NJ: Rutgers University Press, 2001. Print.