Showboat - Production Critique Essay - 668 Words

This paper is a critique of a production of Show Boat, a musical classic with compositions by Jerome Kern and lyrics by Oscar Hammerstein II, which was performed and produced by NETworks Presentations LLC at Emens Auditorium on the 14th of February 2001. Clayton Phillips, the director of the production, attempted to test the waters of racial discrimination by exploring controversial themes such as prejudice and interracial relationships. Show Boat takes an enlightened approach to ethnic controversy by using both music and drama to express the feelings and hopes of the characters to the audience. Even though I enjoyed the production, I felt that it was lacking in terms of its plot and may have overused its melodic reprises. However, Show†¦show more content†¦The scenes and props complimented the attire of the performers, blending together create a magnificent display. The scenery was realistic enough to afford the viewer an escape into depths of the show. The setting was beau tiful and the structures almost lifelike, excepting the absence of a front screen door. It seems that almost all plays and television shows I have viewed neglect this detail. The stage lighting played a key role in the show by setting the mood of the performance during soulful, pensive songs. In contrast, the lighting proved to be a detriment by overbearing the performance of the artists, in that one’s attention was drawn to the glare of extreme quantities of makeup rather than the actions of the characters. This was most notable during the final portions of the production. The entertainers gave their characters genuine life through their gestures, attitude and charm. Even the way the voices led one to believe that the characters were actually presenting their own thoughts and ideas, not those of fictional characters. During the play, the voices of the performers were quite audible, excepting certain musical presentations when the lyrics of the songs were at points nearly indiscernible. Even with consideration given to this technical glitch, the sound quality was quite agreeable and the songs enjoyable. The voices of the performers were strong

The Adventures Of Huckleberry Finn By Mark Twain - 1680 Words

Nathan Zimmerman Ms. DeJong English 1 1 Dec. 2015 The Adventures of Huckleberry Finn by Mark Twain, 230 pages Character List Tom Sawyer - Huck’s best friend. He disappears often and shows up at random times. He tries to start a gang but it didn’t last long. Huckleberry wishes for Tom to be with him throughout the book. Jim - The slave of the widow, Miss Watson. He deeply believes in spirits and consequences of small actions such as killing a snake. He runs away and finds Huckleberry Finn when he learns he is going to be sold. Huckleberry Finn - Starts off rich, but then his father shows up and he gives his money to the judge. He was living with the widow, but his father took him back. He fakes his death to run away from his father and ends up finding Jim on accident. Miss Watson – The widow. She takes care of Huck, even though he eventually takes care of himself. She taught him to read and taught him manners, which he did not like. Huck does not like her that much. Buck – Appears when the raft is broke. Huckleberry goes up to a house, which is where Buck lives with his family. Buck is a country person. He isn’t very good at spelling, and eventually gets killed. The Duke - The King Sally and Silas Phelps – Tom Sawyer’s aunt and uncle. They bought Jim. Tom and Huck try to get Jim from them. Chapter Journals Chapter 1-3 – (pg. 15-25) – This chapter tells who Huckleberry is and who the Miss Watson is. Miss Watson, the widow, tries to civilize Huckleberry, because she sees himShow MoreRelatedThe Adventures of Huckleberry Finn by Mark Twain830 Words   |  3 PagesThe Adventures of Huckleberry Finn by Mark Twain is â€Å"A Great American Novel†, because of its complexity and richness. Twain writes dialogue that brings his characters to life. He creates characters with unique voice and helps the reader connect to the book. Anyone who reads it is forced to develop feelings for each character. Even though there is a great amount of controversy over the use of some choices, such as the â€Å"n word†, it makes the book more realistic. In the beginning of the novel Huck,Read MoreThe Adventures Of Huckleberry Finn By Mark Twain1103 Words   |  5 PagesDmitri Van Duine Jr English Mr. Nelson November 27th The Adventures of Huckleberry Finn: Huck Finn and Tom Sawyer The Adventures of Huckleberry Finn, Written by Mark Twain filled his stories with many examples of satire as to convey a message while also writing an interesting story. The Adventures of Huckleberry Finn revolves around the adventures of a young boy called Huckleberry Finn, who is about thirteen years old. Tom Sawyer is Huck’s best friend and around the same age as Huck. He is onlyRead MoreThe Adventures Of Huckleberry Finn By Mark Twain Essay1055 Words   |  5 PagesZambrano Mrs. Patmor AP Lit-Period 5 28 September 2016 Adventures of Huckleberry Finn 1835 Mark Twain embodies realism in almost every aspect of his writing not excluding The Adventures of Huckleberry Finn, which in he portrays such a lifelike setting that it almost gives you this sense of reality through the point of view of a young man that has an urge for freedom yet struggles to conform to society s norms due to his adolescence. Twain s ability to unmask the true identities of the charactersRead MoreThe Adventures Of Huckleberry Finn By Mark Twain931 Words   |  4 PagesWolski Mrs. Goska English 2H Period 3 22 October 2014 The Adventures of Huckleberry Finn Mob mentality is the way an individual’s decisions become influenced by the often unprincipled actions of a crowd. Mark Twain penned The Adventures of Huckleberry Finn. Twain grew up in America’s southern states during the early 1800’s, a time in which moral confusion erupted within the minds of humans. The Adventures of Huckleberry Finn s protagonist is a young boy named Huck who freely travels alongRead MoreThe Adventures Of Huckleberry Finn By Mark Twain1375 Words   |  6 Pagesmention the years spent growing and maturing physically. Teenagers are stuck in an inbetween state where they must learn who they want to become and what they want to be when they grow older. The same is true for Huckleberry Finn, from the book â€Å"The Adventures of Huckleberry Finn† by Mark Twain. This is a book that was written in a time of great confusion over moral codes and standards. It was a world split in half by two different worlds of people; those who opposed, a nd those who promoted slavery.Read MoreMark Twain and The Adventures of Huckleberry Finn1575 Words   |  6 Pages Mark Twain and The Adventures of Huckleberry Finn Controversy Mark Twain, born Samuel Langhorne Clemens, is a highly recognizable figure in American literature. Born in Florida, Missouri Mark Twain and his family moved to Hannibal, Missouri where Twain discovered and fell in love with the mighty Mississippi River. The river and his life in Hannibal became his inspiration and guiding light in most of his writing. Although Twain loved the river and did a great deal of traveling, he eventuallyRead MoreThe Adventures Of Huckleberry Finn By Mark Twain2083 Words   |  9 PagesSatire in Huckleberry Finn In the novel â€Å"The Adventures of Huckleberry Finn† by Mark Twain, we are told a story about a young boy and his slave companion’s journey down the Mississippi River and all of their encounters with other characters. Twain constructed a beautiful narrative on how young Huck Finn, the protagonist in the story, learns about the world and from other adult characters, how he is shaped into his own person. At the time this book was made however, this novel provided serious socialRead MoreThe Adventures Of Huckleberry Finn By Mark Twain810 Words   |  4 PagesBefore Mark Twain started to write two of his most famous novels, The Adventures of Tom Sawyer and Adventures of Huckleberry Finn, Mark was known to use his characters to display his own thoughts and opinions. â€Å"This device allowed him to say just about anything he wanted, provided he could convincingly claim he was simply reporting what others had said.† (Twain, 1283). Mark Twain used this process to be a foundation of his lectures, by manipulating his popularly with his readers. During the storyRead MoreThe Adventures Of Huckleberry Finn By Mark Twain1005 Words   |  5 Pages In the Adventures of Huckleberry Finn written by Mark Twain in the 19th century is about a young boy named Huck Finn and Jim, a runaway slave who go on an adventure. The two travel on a raft along the Mississippi river creating a bond and making memories. Mark Twain presents Huckleberry Finn as a dynamic character who at first views Jim as property and eventually considers Jim as a friend, showing a change in maturity. In the beginning of the book, Huck Finn clearly sees Jim as nothing more thanRead MoreThe Adventures Of Huckleberry Finn By Mark Twain1335 Words   |  6 Pagesyear The Adventures of Huckleberry Finn is placed in the top ten banned books in America. People find the novel to be oppressing and racially insensitive due to its frequent use of the n-word and the portrayal of blacks as a Sambo caricature. However, this goes against Mark Twain’s intent of bringing awareness to the racism in America. The Adventures of Huckleberry Finn by Mark Twain is classified under the genre of satire and is narrated by a fictional character named Huckleberry Finn. The novel

Non-Violence the Need of the Hour Free Essays

Non-violence, in essence, is the use of peaceful means to bring about a positive and lasting social or political change. Use of non-violence as a solution is tantamount to giving aid to the injured, water to the thirsty and food to the hungry. One can legitimately ask: why should non-violence be used when violence offers more tangible and faster solutions? Firstly, it is important to realize that the use of violence to solve a social or political problem creates a host of other problems in its wake. We will write a custom essay sample on Non-Violence: the Need of the Hour or any similar topic only for you Order Now No matter how pure and sublime one’s aim is, use of violence to achieve it can never be justified. In the words of Mahatma Gandhi: â€Å"Violence breeds violence. .. Pure goals can never justify impure or violent action†¦ They say the means are after all just means. I would say means are after all everything. As the means, so the end†¦. If we take care of the means we are bound to reach the end sooner or later. † Secondly, non-violence is a â€Å"tool† that is available to all. One doesn’t need either time or resources to acquire this tool. Every single person in this world can practice non-violence right from this moment, if one realizes its importance. Thirdly, and most importantly, non-violent approach breaks the cycle of violence and counter-violence, which is usually triggered by the use of violence as a solution. If one group attacks another one violently, the attacked group is naturally instigated to retaliate with violence. This, in turn, provokes the first group to counter-attack with fiercer violence. This chain reaction continues until the government agencies effectively quell it or one of the groups is completely wiped out i. e. until a group has â€Å"won†. How can we term this outcome as a â€Å"win† when there’s no one to celebrate the â€Å"win† because this disastrous cycle results into nothing but massive bloodshed and deaths? Ethnic cleansing and communal riots are the obvious examples in which there is widespread bloodshed resulting in the death of countless innocent people. Non-violence, on the other hand, doesn’t have such disastrous repercussions. It provides an effective method of conflict resolution that does not discriminate one group against another and ensures the welfare of all in society. Unfortunately, our country has had to bear the brunt of one communal riot after another.And each one of them leave a trail of destruction and loss of lives. Non-violence adopts a fair and rational approach and rationality says that followers of each religion have their right to worship the Almighty in their own way. No religion justifies the use of violence unless for self-defence against an aggressor. When we turn the pages of history one thing becomes clear: wars or military action does not bring about permanent peace. It only replaces one crisis with another. Therefore, in today’s world of increasing international conflict, racial hatred, and political turmoil, non-violence is indeed the very need of the hour. How to cite Non-Violence: the Need of the Hour, Papers

J.M. Smuckers External Environmental Analysis Essay Example For Students

J.M. Smuckers External Environmental Analysis Essay MGT 599: Strategic Management TUI University Winter 2010 External Environmental Analysis Case Assignment Module 2 Professor: Executive Summary This external analysis is critical in the development of a well rounded, cohesive strategic plan and will enable the JM Smuckers Company to gain a more comprehensive understanding of the current external operating environment and situational awareness of both future threats and opportunities. This analysis establishes a basic industrial framework, and then utilizes Porter’s 5-Forces model and PEST analysis in attempting to develop a common understanding of the industry and economic environmental threats and opportunities. Porter’s Five Force model indicates that the greatest threats and opportunities facing the J. M. Smuckers company are likely in the form of substitution in the specialty segments due to the emergence and growth of CSAs and farmers markets providing locally grown organic foods, and the threat to profit margins are due to the high degree of rivalry among food manufacturers across all product segments. The analysis also indicates that Smuckers can leverage its product depth and brand name to gain market share as consumers are driven towards value, and use its strong balance sheet to potentially seek additional products to further expand its broad product portfolio . The PEST analysis indicates that current political factors such as the national debt, state immigration laws, healthcare reform, social-cultural conditions driven primarily by the increasing demand to develop and utilize safer and greener energy, and emerging technology innovations will have the biggest impact on the global business environment. What should also be taken from this macro analysis is that rarely should an issue be considered solely a threat or opportunity. Instead every threat should be seen as an opportunity to distance the company from its competitors and every opportunity a chance to fall behind. The ability to understanding the threats and opportunities better than the competition should enable the development of mitigation strategies for threats, the creation of plans to exploit opportunities, and guide further industry and greater economic assessment for inclusion in strategic development that leads to greater competitive advantage. Intro In attempting to develop and formulate a comprehensive strategic business plan, corporations need to assess both their internal and external environment. This is typically accomplished through SWOT analysis. In SWOT analysis the internal assessment focuses on strengths and weaknesses, while the external assessment focuses on opportunities and threats. The objective of this paper is to conduct an external analysis that will identify and provide insight into potential threats and opportunities facing the JM Smuckers Company and will facilitate strategic planning efforts. This external analysis should enable corporate planners to fully appreciate and understand the opportunities and threats that face the JM Smuckers Company and in turn facilitate the development of a strategic plan that incorporates mitigation strategies for threats and features resource utilization strategies that exploit opportunities. This analysis will include setting the industrial framework or scope of the J. M. Smuckers company analysis, an industry environment analysis using Porter’s 5-Forces model, and a greater business environment analysis utilizing PEST analysis, and conclude with the threats and opportunities that face the JM Smuckers Company. SCOPE In order to identify and comprehend the opportunities and threats to the JM Smuckers Company, it is important to establish a framework for the external assessment. This will enable the analysis to cull the seemingly limitless threats and opportunities and focus on those that are more relevant. This framework will be comprised of a company overview and establishment of critical facts from the annual report that will drive our analysis. For over 100 years, the JM Smuckers Company has engaged in the manufacturing and marketing of branded food products in the United States, Europe, and Canada. (The J. M Smucker Company, n. a. ) The company markets the following products: coffee, peanut butter, shortening and oils, fruit spreads, canned milk, baking mixes and ready-to-spread frostings, flour and baking ingredients, uices and beverages, frozen sandwiches, dessert toppings, syrups, pickles and condiments, and potato side dishes under various brand names. â€Å"Today, Smuckers is the leading marketer and manufacturer of fruit spreads, retail packaged coffee, peanut butter, shortening and oils, ice cream toppings, sweetened condensed milk, and health and natural foods beverages in North America. † (J. M. Smucker Co. , n. a. ) Because the primary business activity is fruit sp reads, Smuckers has a North American Industry Classification Code (NAICS) of 311421 â€Å"for the purposes of collecting, analyzing, and publishing statistical data related to the U. S. business economy. † (NAICS, n. a. ) The J. M. Smuckers Company NAIC hierarchy 31Manufacturing 311Food manufacturing 3114Fruit and Vegetable Preserving and Specialty Food Manufacturing 31142Fruit and vegetable canning, pickling, and drying 311421Fruit and Vegetable canning The 2009 J. M Smuckers Annual Report Key facts: †¢The Company has four reportable segments: U. S. retail consumer market, U. S. retail oils and baking market, U. S. retail coffee market, and special markets. †¢The three U. S. etail market segments comprised nearly 80 percent of the Company’s net sales in fiscal 2009 †¢In U. S. retail market segments products are sold primarily to food retailers, food wholesalers, drug stores, club stores, mass merchandisers, discount and dollar stores, and military commissaries. †¢In special market segments products are distributed domestically and in foreign countries through retail channels, foodservice distributors and operators (i. e. , restau rants, schools and universities, healthcare operators), and health and natural foods stores and distributors. The Company realized strong sales and margin growth in 2009. Despite the impact of a global recession and credit crisis, the impact of the Folgers transaction and improved profitability in the Company’s U. S. retail oils and baking market segment contributed to the strong 2009 performance. †¢Company net sales increased 49 percent, led by the contributions from Folgers. The Company generally benefited from the consumer trend of preparing and eating more meals at home. Operating and net income increased 59 percent and 56 percent, respectively. †¢Net income per common share – assuming dilution increased approximately four percent reflecting the impact of additional common shares issued, increased interest expense, and increased merger and integration costs, all related to the Folgers transaction. Porter’s 5-Forces: The Industry External Environmen t Porter’s 5-Forces model will be used in conducting the assessment of Smuckers industry external environment. The greatness of little red riding hood EssayThe PEST Analysis will provide a greater understanding of the macro business environment in which the Smuckers Company is operating. This analysis will assess the impact of political, economic, social, and technological forces that are beyond the control of Smuckers but which will impact strategy development and decision making. As with the previous analysis, the PEST Analysis will be limited to the identification and evaluation of one or two key items per element. Political Factors The current assessment is that the impact due to political factors on the greater business environment is high. The three factors driving this assessment are the global focus on national debt issues, state immigration laws, and healthcare reform. Perhaps the biggest concern and impact will be felt due to the effort to reduce the National debt which is expected to exceed $14 trillion dollars (Johnson, 2010). â€Å"Republican Alan Simpson and Democrat Erskine Bowles told a meeting of the National Governors Association that everything needs to be considered including curtailing popular tax breaks, such as the home mortgage deduction, and instituting a financial trigger mechanism for gaining Medicare coverage. (Johnson, 2010) Clearly the U. S. will be called on to implement a get out of debt strategy that is acceptable to the World. The likely increase of taxes will be compounded due to stiffer state immigration laws that potentially decrease available labor pools and finally there will be the added requirement to provide enhanced health care benefits to seasonal workers. The food manufacturing industry will likely be hard pressed to maintain current pricing models as raw goods suppliers are forced to adapt to the changing employee requirements. Economic Factors The assessed impact of economic factors on the greater business environment is assessed as medium. This is primarily due to slowing of the U. S. economic recovery and the increasing possibility of a double dip recession. Across there is a great amount of uncertainty from national debt issues in the Euro zone, China’s nagging labor issues, and India’s potential inflation issues, which are long term issues that will impact international business. While there is much confusion and uncertainty opportunities exist for ompanies that have strong balance sheets to expand through mergers and acquisitions or lower borrow costs as a result of low long term interest rates due to global demand for U. S. treasuries. Socio-Cultural Factors The impact from social-cultural issues is assessed to be high. This is being driven primarily by the growing demand for the use of safer renewable energy sources and the desire to conserve precious resources like water, oil, and gas . While the motives behind green energy solutions may vary, there is no denial that demand for green energy is increasing among consumers, corporations, and nations. In fact the recent BP oil spill in the Gulf of Mexico has only strengthened the argument for the development of green energy solutions. The impact to the economy will likely manifest itself in higher energy costs as current green energy sources are more expensive than traditional sources, there will likely be taxes to support government subsidies to foster development of green energy, and the initial cost of developing green infrastructure are all likely to affect the bottom line. Technical Factors The impact of technology on the greater business environment is assessed to be very high. Like most industries the food manufacturing industry will feel the impact of advancements in research, technology development, and implementation. Failure to leverage emerging technologies will result in competitive disadvantage. Nano coatings are one example of emerging technology that will have an impact on the food manufacturing industry. The impact will be felt through enhancing food safety and reduction in production cost. Nanocoatings can be applied to machinery to inhibit bacteria growth, which means they need less cleaning† (Harrington, 2010). Conclusion In conclusion, The J. M. Smucker’s corporation will face multiple challenges and opportunities. Porter’s Five Force model indicates that the greatest threats are due to substitution in specialty segments due to the emergence and growth of CSAs and farmers markets providing locally grown organic foods and the high degr ee of rivalry among food manufacturers that threatens profit margins across all segments. While the PEST analysis indicates that current political factors, social-cultural, and technology will have a significant impact on both near and mid-term business planning and strategy development. This analysis should enable the development of mitigation strategies for threats, the development of plans to exploit opportunities, and guide further industry and greater economic assessment for inclusion in strategic development. What should also be taken from this analysis is that rarely should an issue be considered solely a threat or opportunity. Instead every threat should be seen as an opportunity to distance the company from competitors and every opportunity a chance to fall behind. Bibliography Carrying out a PEST Analysis. (n. a. ). Retrieved APRIL 26, 2010, from TheFreeLibrary. com: http://thefreelibrary. com/carrying+out+a+PEST+analysis-a0141751272 Connelley, D. (2005). Strategy for the External Environment. Retrieved from Power Point Presentation. Economic Growth Report. (n. d. ). Retrieved JUL 12, 2010, from Institute for Supply Management: http://www. sm. ws/about/MediaRoom/newsreleasedetail. cfm? ItemNumber=20290 Eilperin, J. , Mufson, S. (2009, APR 16). Renewable Energys Environmental Paradox. Retrieved JUL 12, 2010, from Washington Post: http://www. washingtonpost. com/wp-dyn/content/article/2009/04/15/AR2009041503622. html Food Manufacturing. (2010, April). Retrieved JUL 12, 2010, from Bureau of Labor Statistics Industries at a Glance: http://www. bls. gov/iag/tgs/iag311. htm Harrington, R. (2010, MAY 31). Spec ial Edition: Nano Technology. Retrieved JUL 12, 2010, from Food Production Daily. com: http://www. foodproductiondaily. com/Processing/Is-the-food-processing-industry-poised-to-embrace-nanocoatings Industry Packaged Goods . (2010). Retrieved JUL 12, 2010, from Yahoo Finance : http://finance. yahoo. com/q/in? s=SJM+Industry Industry Concentration. (2007). Retrieved APRIL 26, 2010, from QuickMBA. com: http://www. quickmba. com/econ/micro/indcon. shtml J. M. Smucker Co. (n. a. ). Retrieved JUNE 16, 2010, from BNET:

Blood Diamond from Sierra Leone

Management of natural resources is central to quality of governance in a country. An endowment of mineral resources such as diamond, gold or oil should foster economic development. However, there are areas in Africa where such resources have caused serious conflicts (Levy 36).Advertising We will write a custom research paper sample on Blood Diamond from Sierra Leone specifically for you for only $16.05 $11/page Learn More Sierra Leone’s diamond has fueled a long and bloody military campaign ever witnessed in the history of Sierra Leone. Sierra Leone experienced an eleven-year civil war from 1990’s to 2002 between the Government of Sierra Leone and Revolutionary United Front (RUF).The civil war in Sierra Leone was officially declared over in January 2002. However, over 70,000 people had been killed, 10,000 maimed, and more than half of the population fled the country or were internally displaced (Keen 15). ‘Blood diamond’ or â⠂¬Ëœconflict diamonds’ are gems mined in war zones and are smuggled into the legitimate industry through illegal means. According to Levy (3), diamonds mined in Sierra are smuggled to other countries through Ivory Coast (Lincoln 36). Civil wars that are a result of resource conflicts have been manifested in a number of Sub-Saharan African (SSA) countries where resource endowment has resulted in civil wars. For example, Angola, South-Sudan, Liberia, Nigeria, the Democratic Republic of Congo (DRC), and Sierra Leone are amongst those countries that are endowed with mineral resources but still have high prevalence of poverty, social inequality, and conflict (Omeje 2008 in Lincoln 39). From the above examples, it can be deduced that armed conflict is a major manifestation in resource exploitation. Sub Saharan Africa (SSA) countries that are endowed with alluvial deposits of minerals such as diamond, colt, and gold. However, they are faced with the problem of illegal mining and smu ggling. The rise in diamond smuggling during the Stevens and Momoh eras is explained by rent seeking instincts of the political elite. This was furthered by the peculiar organization of the international diamond industry (TRCV in Sierra Leone 17). Illegal exportation of diamond has taken place since the 1950s, with most being channeled through Ivory Coast, endowed with smaller number of diamond deposits (Lincoln 38). Although most observers have viewed the causes of these conflicts as complex, reflecting a combination of political and socio economic factors have increasingly focused on the connection between contested natural resources and political conflict (Levy 3).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More It argued that diamond played a vital role in fuelling the conflict as various parties funded war efforts through mining activities. These diamonds have been labeled â⠂¬Ëœblood diamonds’ or ‘conflict diamonds’ (Levy 2) because the resources obtained from their sale is used to fund purchases of arms and military ammunition by rebel forces. Although blood diamonds contribute the income of countries where they are mined, it also contributed greatly to warlords within Sierra Leone, Democratic Republic of Congo, and Angola (Sean and Rorison 21). The problem involving conflict diamonds is that there are many victims who suffer including diamond miners. Many diamonds are harvested using practices that exploit the workers, children, and communities (Keen 13). As depicted in the movie Blood Diamond, those that attempt to escape the mining camps or try to steal the mined gem face punishment of having their limbs removed or shot. Many miners find diamonds unwillingly and attempt to hide them (Solomon in the Movie). They are hoping to find large diamond that will transform their lives since a significantly high number of miners are trappe d in absolute poverty. Several people have been killed retrieving hidden diamonds. This number is estimated at 3.7 million people who have directly succumbed to diamond-fuelled wars. More millions have lost their homes and livelihoods (Abdullah 101). In the movie Blood Diamond, Solomon is poor fisherman in a war torn country. His and several other houses are burnt by the rebels led by Captain Poison (RUF Commander). Smuggling of conflict diamond and illegal diamond trade has brought suffering to neighboring countries since these countries are trading and transit grounds for the illegal gems (Levy 10). For instance, countries such as Angola and the Democratic Republic of Congo suffered from wars within themselves and between warlords who fought over the mined diamonds being smuggled into the industry (Keen 15). Several rebel forces and commanders also exploited children as child soldiers. In the movie, for example, Captain Poison (RUF Commander) raids Solomon’s village capture s children to use as his soldiers including Dia Vandy-Solmon’s son. Lack of adequate monitoring of the source and origin of diamonds is one of the major problems in the industry as illegitimate mineral exploitation flourishes. The illicit mining has resulted in lower mineral revenues for governments. This has caused serious development implications to Sierra Leone which relies heavily on proceeds from mineral exploitation (Levy 40). This is the case with Sierra Leone, a country whose economy depends essentially on revenues from its mineral resources.Advertising We will write a custom research paper sample on Blood Diamond from Sierra Leone specifically for you for only $16.05 $11/page Learn More Reduced mineral revenue for an already heavily indebted country like Sierra Leone is likely to obviate realization of national development projects. Efforts to control illicit extraction and smuggling of diamonds in alluvial mining areas in Sierra Leone a re hindered by large influx of miners, presence of foreign mining agents, and porous borders (Lincoln 38). The large influx of miners in extensive mining areas supervised by few mines monitoring officials has hampered Sierra Leone government’s effort to prevent illegal extraction of diamond. Moreover, some foreign mining representatives take advantage of this weakness by sponsoring illegal mining, buying, and smuggling of diamonds (Lincoln 37). The problem of illegal exploitation of alluvial deposits is largely attributed to activities of artisanal miners and their association with social actors in the mining industry. Despite the fact that the government of Sierra Leone has made progress in formalizing artisanal mining, illegal exploitation is still a key issue of concern. Though artisanal mining is still widely used in the outskirts of Koidu Town in Kono District, most of it is illegal mining and involves deplorable working conditions (Levy 36). According to Lincoln (38), t he government officials in Sierra Leone complained that it was difficult to control and manage the diamond industry and as a result the smuggling of illegal diamonds continued as late as 2009. Diamond smuggling in Sierra Leone have undoubtedly contributed to large scale corruption in the Sierra government, and denied the country millions of dollars in foreign exchange income. Unfortunately, it has promoted political instability within and without the boarders of the West African sub-country (Gberie 2005 cited in Lincoln 39). The pressing concern however is debate on the role played by illegal diamond exploitation and sale to the country’s future political and development path. Quite a number of observers have warned that diamond trade in Sierra Leone presents a considerable threat to security in the post-conflict time. Great numbers of ex-combatants who continue to return to diamond mining regions in the Eastern Province has exacerbated the situation. Similarly, there remain widespread concerns about socio-economic consequences of this scenario to wider state interests. Therefore, without major efforts to provide better alternative socio-economic opportunities for socially excluded rural youths, there is a substantial risk that fighting might resume in future (TRCV in Sierra Leone 19).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More On the other hand, in spite of extreme levels of poverty in modern-day Sierra Leone, particularly in the diamond mining regions themselves, there was an era when diamonds played vital role in the country’s national economic development agenda and were a significant aspect of the local economy. Specifically, before the start of this war in 1991, mining played a central role in economic development of Sierra Leone, as it was the major foreign exchange earner for the country, accounting for over 80 per cent of export earnings and 20 per cent of gross domestic product (GDP) (Keen 26). The history of great effort against blood diamonds has involved a number of stakeholders. In the beginning, NGO’s with an interest in peace and development in the Sub Saharan country acknowledged the role of diamonds in conflict. On the other hand, social scientists and researchers were doing research and modeling the role of natural endowments in long-standing violent conflicts witnessed in many Sub Saharan Africa countries. The United Nation, governments, NGOs, civil society groups, and the diamond industry recognized need for a global system to prevent blood diamonds from entering lawful global diamond supply chain to fund conflict. In 2003, the diamond industry, together with governments and civil society, launched the Kimberly Process, a diamond certification scheme that aimed to get rid of blood diamonds from global markets. The process attempted to curb trade in illegal diamonds that has helped to fund rebels and conflicts aimed at overthrowing governments as it did in Sierra Leone (Lincoln 38). While the Kimberley Process embodies a significant step in an attempt to control and eradicate trade in blood diamonds, strengthening of the control apparatus is unquestionably required (Lincoln 39). Awareness of the illegal trade in precious gems has increased significantly since the onset of the Kimberly process. â€Å"Blood diamond†, the movie addresses the conc erns behind glittering diamonds which are not as pleasant as the diamond looks. It shows the conflict in Sierra Leone and its devastating consequences. In conclusion, the trade in diamond and other gem or precious stones has played significant role in civil conflicts witnessed in many Sub Saharan African countries such as the Democratic Republic of Congo and Sierra Leone. Smuggling and illegal mining of these gems denies these countries revenue. Besides, it has exacerbated poverty levels that are already soaring high. Changing these conditions require joint efforts from the government and industry players. Works Cited Abdullah, Ibrahim. (Ed). Between Democarcy and Terror. Dakar, Senegal: African Books Collective; Codesria, 2004. Print. Keen, David. Conflict Collusion in Sierra Leone. New York, NY:James Currey Publishers, 2005. Print. Levy, Arthur, V. Diamonds and Conflict: Problems and Solutions. New York: Nova Publishers, 2003. Print. Lincoln, Jessica. Transitional Justice, Peace and Accountability: Outreach and the Role of International Courts after Conflict. USA: Taylor Francis, 2011. Print. This research paper on Blood Diamond from Sierra Leone was written and submitted by user Reuben Z. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Hall Surname Meaning and Origin

Hall Surname Meaning and Origin The Hall surname has several possible derivations, including geographic, descriptive, and occupational: A place name derived from various words for hall or spacious house, usually used to signify someone who lived in or worked in a large hall or manor house. From  the Middle English hall,  Old English heall, Middle High German halle and  Old Norse holl.From the Norse hale and Anglo-Saxon haele, meaning hero.Possibly an old Norse word for boulder, slope, thus meaning someone who lived on a slope.Possibly from the Norwegian hallr, meaning flint. Hall is the 30th most popular surname in the United States and the 20th most common in England. Surname Origin:  English, Scottish, Irish, German, Scandinavian Alternate Surname Spellings:  HALLE, HAALL, HAUL, HAULL, HAWL, HOLL Famous People With the Last Name HALL Lloyd Augustus Hall - Chemist and inventorDonald Hall - poetCharles Martin Hall - inventor of the aluminum manufacturing processJoyce Hall - founder of Hallmark CardsG. Stanley Hall - American psychologist;  established the concept of child psychology and founded Clark University.Arsenio Hall -  American actor, comedian, and first black late-night talk show host Genealogy Resources for the HALL Surname 100 Most Common U.S. Surnames Their MeaningsSmith, Johnson, Williams, Jones, Brown... Are you one of the millions of Americans sporting one of these top 100 common last names from the 2000 census? Common English Surnames Their MeaningsExplore the meanings and origins of the 100 most common English surnames. The Hall DNA ProjectOver 170 Hall descendants have donated their DNA toward the goal of learning more about Hall ancestors worldwide. The Hall Genealogy WebsiteThis site collects genealogy information related to HALL descendants worldwide, although the major focus is on Halls from the island of Great Britain. FamilySearch - HALL GenealogyFind records, queries, and lineage-linked family trees posted for the Hall surname and its variations. HALL Surname Family Mailing ListsRootsWeb hosts several free mailing lists for researchers of the Hall surname. DistantCousin.com - HALL Genealogy Family HistoryFree databases and genealogy links for the last name Hall. References: Surname Meanings Origins Cottle, Basil. Penguin Dictionary of Surnames. Baltimore, MD: Penguin Books, 1967.Menk, Lars. A Dictionary of German Jewish Surnames. Avotaynu, 2005.Beider, Alexander. A Dictionary of Jewish Surnames from Galicia. Avotaynu, 2004.Hanks, Patrick and Flavia Hodges. A Dictionary of Surnames. Oxford University Press, 1989.Hanks, Patrick. Dictionary of American Family Names. Oxford University Press, 2003.Smith, Elsdon C. American Surnames. Genealogical Publishing Company, 1997.

CONFLICT MANAGEMENT IN CROSS-CULTURAL PERSPECTIVE Essay

CONFLICT MANAGEMENT IN CROSS-CULTURAL PERSPECTIVE - Essay Example wledge provided to human beings as a result of what they think is wrong, right and acceptable, to a large extent, plays a crucial role in determining how conflict is viewed by different people around the world. According to Fry, Conflict is a perceived feeling of a divergence in the interests of two or more people and groups, and how these people decide to act upon this threatening divergence- whether they act in a violent or non-violent way, or if they even view this conflict as something threatening- depends on the culture that these people have thrived in. Samovar and Porter (1995), point out that culture controls and defines the various circumstances and conditions under which different messages are and are not noticed and interpreted, and similarly, the way which a particular conflict is viewed, deciphered and ultimately handled has a lot to do with the individual culture that people, societies and groups have developed over a course of time. Different people and societies have varying attitudes towards how they react towards conflicts and Fry provides a variety of examples of Brazil’s Upper Xingu River Basin where a group of inter connected tribes have developed a system of harmony through which they avoid conflict and practice a peaceful existence together. The villagers adopt an attitude of tolerance through which problems are resolved mostly in a non-violent fashion and many issues are over-looked. Fry also gives the example of other groups of people such as the Tarojas of Indonesia who also use avoidance to indirectly deal with any issues that may arise between two families and the lack of confrontational activities which lead to minimization of violent contact. Other communities, such as the Jalà © of New Guinea may cease to speak with to each other when two or more parties are faced with pressing conflicts and altogether avoid being in the presence of one another so that violent confrontations are virtually non-existent. Apart from toleration and

Relationship and Marital Therapy Essay Example | Topics and Well Written Essays - 3000 words

Relationship and Marital Therapy - Essay Example It is a good that at present, most people do not perceive counseling or therapy this way, as they recognize the fact that it is not easy to maintain a satisfying marriage where all the needs of both parties are being answered (Perry n.d.). And since the family is still considered as the basic unit of society, most studies show that the conflicts within the parents is a major aspect of children having negative behaviors in general (Perry n.d.). Although â€Å"staying together† is not really the answer especially if marital trouble is present and looming inside the home. Some people may contend that they have married the wrong person so they are not really compatible with each other (Perry n.d.). But before marrying somebody, the differences of each is what normally attracts one to the other as â€Å"opposite poles attract.† It is likewise a wrong misconception that a marriage counselor or professional therapist can actually save a marriage. This not also true, since there is no professional who can or should give the assurance that they could save a marriage which is literally falling apart in the seams (Perry n.d.). Basically, a divorce may be the result of a therapist’s greatest attempt to prolong the marriage. And while others may not be in favor of it, pressures which steams out of family and church tradition to stay married are followed. And therapists are not advised to take side in the matter (Perry n.d.). Prior to actual marital therapy sessions, it would be most prudent for the therapist to utilize assessment tests which have a good reputation that will help decide and will be the basis of the type and length of therapy involved for a particular couple (Perry n.d.). These tests are normally based on research studies which gives an exceptional explanation of the relationship status. At times the test result pattern may be different from what the couples say during interviews. Also things may seem to

Philosophy Statement Assignment Example | Topics and Well Written Essays - 500 words

Philosophy Statement - Assignment Example eedback from students, evaluating unique academic performance, motivating and addressing weaknesses, and reporting to authorized personnel (school administrators, parents, care givers) the outcomes of academic reviews and performance of students, as required. Roles/Responsibilities of the Learner: Learners have roles and responsibilities that are diverse and multidimensional. Learners are expected to assume the roles of active participants, as collaborative members of the learning environment, as a source for constructive feedback. Their responsibilities include â€Å"dialogue and interactions with peers and teachers, practical investigations, performances, oral presentations and discussions† (Education Scotland, n.d., p. 1), among others. Beliefs about Teaching: Good teaching is viewed as being able to practice what one preaches. By being a role model to students, good teachers could effectively impart lessons that could be emulated by students through the values and manifestations of actions that are consistent with good morals and ethical codes of conduct. On the other hand, bad teaching simply exhibits actions and delivery of academic information that are contrary to the standards of ethical and moral practices expected of the profession. Beliefs about Learning: Learning happens in progressive stages and could be enforced through motivating students in a conducive learning environment. Learning is most effective when teachers design strategies that encourage participation of students and acknowledge their contribution to the learning environment. Prejudice, discrimination, restricting encouragement and freedom of expression and exhibiting inequality across gender, ethnic and cultural background definitely make learning less effective. Applications in Language Classroom: Given the beliefs and philosophies in teaching, one would strive to promote equality and the integration of diversity in culture in one’s language classroom to focus on the unique

Emotionally And Socially Withdrawn Children And Young People Essay

Emotionally And Socially Withdrawn Children And Young People Essay Divorce, marriage breakdowns and separation is an extremely stressful time for all involved but particularly the children/young person. They may begin to lack in confidence and self esteem and become emotionally withdrawn. Due to the family upheaval, the child or young person may begin to loose focus on their own abilities and suffer mentally. In the same degree children and young people from a single parent family may also suffer due to a lack of female/male role model which can cause social stigma. In some households dual parents or lone parents may find they have to work long hours, resulting in little time remaining to focus on direct social, intellectual and emotional support. Some situations cause a child to find themselves becoming part of a step family through their parent meeting a new partner, which could result in friction between children from each side. Because of this particular situation the children or young person may become emotionally and socially withdrawn which c ould lead to an increasing risk of bullying by peers. Various factors have an influence on a child and young persons development process in particular relation to their background. Development is vital and major setbacks at a young age can have a lasting impression on children and young people. Family bereavement is a very traumatic time and experience for children or young people, even when they have been prepared for the worse. Emotional strain is created and outbursts of emotion should be expected during the bereavement period. Socially, children who have been through bereavement may feel different apposed to their peers who havent experienced bereavement. This may result in the child or young person suffering intellectually due to regular absences from nursery or school, their concentration levels and behaviour may also be affected. Moving house can also have an impact on a child and cause some great difficulty as the child has to adapt to a completely new situation, with changing their original nursery/school and having to adapt to a new routine. You may find that in these situations a child/young person may become highly emotional and socially introverted. Health There can be many health aspects that affect a child/young persons development. Children become extremely resilient and are often able to manage their conditions very well; however, certain aspects of their development can prove challenging throughout periods of ill health. Children may suffer from conditions such as asthma, which if not well controlled, can cause children to have extended periods of time off from school. This in turn leads to intellectual development being compromised as well as social development due to relationships not being maintained. Disability in children, whether it be physical or intellectual can be particularly difficult. A child that has a hearing impairment may suffer physically through loss of balance or socially through having to communicate in alternative ways such as sign language/makaton. A physical disability such as Cerebral Palsy can be physically challenging due to being restricted in taking part in certain activities. This can affect social situations due to these restrictions and can affect a child/young person emotionally questioning why they are different causing low self-esteem. Being diagnosed with a serious illness such as cancer as a child/young person can also prove to lead to developmental issues. All areas of development can be compromised, intellectually, through missing school and being too ill to complete set work. They may suffer physically depending on the specific illness causing them to be weak and/or in too much pain and discomfort to complete physical activities. Socially they may be too ill to interact with others and/or maintain friendships. They may also become emotionally withdrawn and find it difficult to cope with their emotions. Allergies affect many children, particularly food allergies; this in turn can lead to social problems as they may become excluded from certain situations where their allergies are not known. In contrast they may feel a certain social stigma as their allergies are highlighted, for example; when eating lunch at school, they may be required to wear a special badge which shows their allergies, causing them to feel different from their peers. They have to be more physically aware of their condition and how this can cause changes in their body and manage this accordingly. Environment Environmental factors can play a huge part in affecting a child/young persons development. These can vary from cultural factors to living conditions. Children/young people from less advantaged backgrounds who live in poverty can have their development seriously compromised. They are less likely to have educational support from parents/carers which in turn creates intellectual problems for the child/young person. This is further influenced by having a lack of learning resources available such as access to computers and books. They may become disillusioned with education from an early age which sets them on a path of social and emotional turmoil. Also, they may suffer socially by not being able to participate in certain paid activities offered through school and outside school which means they interact less in physical activities. They may also feel that they cannot compete with their peers with regards to fashion trends and owning the latest technology. They might not seem to be as physically strong as their peers; parents/carers might experience difficulty in providing healthy, regular meals which can cause problems with their phy sical well-being. Their emotions can seem quite immature at times and they may well become emotionally withdrawn but also prone to emotional outbursts associated with behavioural difficulties, displaying a lack of attention.

Capital Punishment :: essays research papers

Capital Punishment is the ultimate denial of human rights. There are strong indications that rather than deterring violence, it increases people’s tolerance of and tendency toward violence. Though capital punishment does not deter capital crimes it does constitute a uniquely cruel and degrading punishment. It’s imposition forever deprives a potentially innocent individual the benefits of new evidence or a new law that might warrant the reversal of a conviction or the setting aside of a death sentence. In addition, the cost of executing a person in the U.S. is far higher than the cost of imprisoning him or her for life. States wishing to condemn cruel and inhuman acts of killing do not serve their purpose by repeating the act of killing. The average homicide rate in the 13 states without the death penalty is lower than the average homicide rate in the 37 states where it is legal. Between 1972 and 1990, the homicide rate in Michigan which has no death penalty, was generally as low or lower than the neighboring state of Indiana, which restored the death penalty in 1973. The U.S. Bowers- Pierce study analyzing executions between 1907 and 1963 concluded, that an average of two additional homicides were committed in the month after an execution; they also noted a â€Å"brutalizing† effect on society resulting from executions. According to FBI statistics the murder rate in some states which use the death penalty is twice that of some states which do not use the death penalty. Between 1976 and 1985, almost twice as many law enforcement officers were killed in death penalty states as were killed in states that don’t use the death penalty. The death penalty has not proven its worth to society; study after study has shown! that it fails to deter crime, no credible body of evidence contradicts them. Capital punishment is pre- meditated killing and, like all killing, involves a cruel and violent assault on the human body. If administering 100 volts of electricity to the most sensitive parts of a man’s body is rightly condemned as torture, how does a state condone the administration of 2,000 volts to a human body in order to cause death? At a 1990 Florida execution, a malfunction of the electric chair equipment caused flames to leap six inches above the prisoner’s head each time the current was turned on. In 1992, a prisoner in Oklahoma had a violent reaction to the drugs used in the lethal injection.

American-Cuban Relations: A critical analysis

The American Cruise Line is a United States small ship company. Its operations are around Eastern Seaboard in the US. Its operations commencement is dated back in early 1970’s. However, the business stopped sometimes in 1980s due to a decreasing level of customers. Its operations either went in business again in 2000, by launching some three ship fleet with the American Eagle (49 – passenger capacity) being the first ship. Others launched in 2002 and 2005 where the American Glory (49 – passengers) and the American Sprit (98 – passengers) respectively. In 2007, the company is to launch the American Star.The owner had sold the company in late 1980’s before it went under due to operational inefficiencies. Since it’s rebirth in 2002, the company continues to embrace a big growth, with its operation expanding highly. The same rebirth followed an acquisition by the owner of the then former company which was operational in 1980’s. The company is a US based small ship company registered in Maine. Its operations are along the US coastal line form the Maine to Florida. Operational profile. The company owns a much larger fleet with a capacity of 220 square fleets.Its cabins are of a larger size than any other small ship company. In its fleet Profile, its currently operates with three cruise ships such as the American Eagle, American Glory and the American Spirit. Its current decision to launch the fourth ship (America Star) within the year is perhaps its greatest achievement. Its ships are profound in three characteristics which make it to adequately compete with its competitors at the market place. They are highly roomy, and of the most modern nature. (http://www. cruisecritic. com/reviews/cruiseline. cfm? CruiseLineID=57)Their ships have adequate privacy due to the large capacity, intimate relations for their relatively small size as well as allowing its passengers to be able to frequently meet within a week. Their dining room are located at the deck which primarily lowest at the stem point, where it has some windows on its three sides it has other two cabin sized lounges, with the tip deck making open cut facility for the remaining part of the ship. The four decks will then be linked together by an elevator. Many of the cabins have balconies which provide an attractive environment for the passengers on the coastal scenery while traveling.Those without balconies will have their windows painted large pictures which are then opened for free circulation of air and also the different sounds emanating form the sea. They also offer cabin facilities for persons who are single or disabled. Generally, the vessels will have identical features in regard to the facilities, decor and also layout. The passengers are free in their choice of cruise in terms of date or even itinerary without been forced to use a cruise without their choice. (Morgan, 2004) The decors are attractive and exciting, with both muted and a range of simple colors.Their close array is like that of a hotels generic lobby. Its main lounge has a specific location. This is underneath their bridges at a directly forward position. It has a set of tail windows in one of the three sides which are used for providing a way of viewing the attractive scenery while passing. However, the stringent maritime laws have worked to lower the company’s activities. These laws prescribe an attractive package in the certain conditions relating to capacity, modern, operating diameters, and other legal conditions on the cruise business.At one point, we can talk of the advantage into the nature of the business customers. However, the same laws may be argued as stumbling blocks into the cruise business where stringent legacies ought to be followed. Consequently, cruise businesses are required to have a layout of specific modalities in the operational system and the physical nature of their ships. Such conditions have been voted as been hig hly expensive leading to conditions of high operating costs. The company has the launch of the American Star in progress which is to be later in this year.Either, its development of Pearl Seas Cruises within the course of 2008, will find the company at the most competitive edge in the international waters. This would have the same similarities to the other ship models, though it’s highly sophisticated. With a regard to the environmental laws about water pollution, the company has been in the fore front to ensure Low rates of environmental pollution. The construction system of its ships follows a highly conventional manner in which high standards ships manufactured with lower cases of oil spill-over in the water.Either, it has various facilities for ensuring safe custodies for any emergency cases and accidents that would lead to oil spillages in the water. Above these parameters, its high advocacy to the travelers of frontiers that provides conditions for lower environmental p ollution has been ensured by the management. The company has continued to recognize and put in place various campaigns on environmental conservations, and reduction in water pollution. Through such a campaign, it has ensured high operational statuses which provide a hallmark in the conservation of the water environment through reduced pollution.(Sagers, 2006) Organizational structure and current operating environment. The company has provided a layout in terms of its organizations structure. A compliment of various stakeholders to be same structure is therefore available. It has the CEO as the highest rank in the structure. A panel of board of directors also accompanies the same structure. Elsewhere, various managerial staff positions provide management services to the different management offices. The current operating structure may be summarized under the aspect of ship board organizational structure.The shipboard organizational structure is comprised of system of controls into th e various activities and operations at the time of boarding a ship. Like any other organizational activity, the ship boarding activity is comprised of various activities that help an adequate environment for the operations. Different personnel have various delegated responsibilities, which help the smooth process of activities during the boarding time. (Hazell, Fitzpatrick, 2006) Various control persons are therefore delegated with various duties.These include; operations control who is capable of the communication process within the shipping process. The engineering control, who provide various engineering services for the shipboard process incase of mechanical breakdowns; the damage controller, who provide repairs and maintenance to any materials breakdown in the shipping process. The shipboard directors(s), who provides a package of directorship in the control layout systems of the ship board process. Above these profiles, the shipboard organizational structure is compounded by o ther systems of control / control officials.These are medical controls, finance officials, supervisors, safety officers, security control and quality assurance controls. All the controls play their relevant authorities and displiness in correspondence to the requirements of the shipboard process. Summarily therefore, shipboard organizational structure is comprised of a system of control that ensure adequacy in the company’s organization at the shipboard process. The shipboard operating structure is comprised of a system of control available at the process of its operations.While the ship is on its traveling process, there are various operating controls and processes that accompany it for adequate and safe traveling and services. At one level, the demographic population of the company can be echoed in a close perspective between the ships and the passenger volume they operate in. The demographic structure of the company depicts diversity in its clients in terms of geographical parameters. Clients are from the whole region. Generally, the number of children clients has been voted to be low.However, a higher volume of children is available during the summer within the Maine and the New England. Currently the company has its three ships with the American Star at the verge of been launched within this year. (Talley, 2000) The major nationalities working in the onboard process are Americans. The company has had dominance in the employment of Americans for its onboard activities. This is in attribute and understanding that fellow Americans can provide good customers relation in the onboard process during the ship traveling.However, the onboard process is accompanied by a number of activities on process where different personnel perform different roles. Firstly, the role and position of show excursions controller should not be overlooked. This is the controller person in charge of excursions in every port in which passengers are taken through to know the differ ent environments they are driving in. This is taken as a refresher course to the passengers in the long journey processes. Food and drinking personals (waiter) who are allied to the different schedules of the passenger feeding.With the long journey process, passengers are ideally provided with food, this is taken care of by the food controller. Like the shipboard organization structure, the on process is also accompanied by a system of control which includes quality assurance, finance, medical, security, administration, above others. At the onboard process, the persons are responsible for these controls. At the shore side either, a comprehensive, package of management structure, controls and human resources issues is highly pronounced to provide a higher and better environment of the shipping process.Majority of the characteristics of activities found at the shore side is a combination those at the shipboard organizational and operating structures above those of the onboard structur e. A combination of the relevant system of control relating to the various systems of control is therefore attributable to the shore side organizational structure. Marketing positioning The small ship industry in America is highly competitive. The company continue to get a high and stiff competition form its competitors around the world.The success to the company has however been through a package of providing relatively high quality products and services above other strategies which helps it to even pursue well in such a competitive market. It has however a highly developed and established system of itineraries which are found placed in the whole Eastern Seaboard covering the Penobscot Bay at the Maine up to the Florida. (Haigh, Nomikos, Bessler, 2004) The traveling system changes considerably during the various seasons of the year. The cruises allied to England Island have the Block Island as their stopping areas at the summer periods.They can also stop at Nantucket or Martha†™s Vineyard. Trips also change in the course of the year depending on the environmental conditions allied to the navigation process. There is the June offer of itineraries from the Chesapeake Bay which are allied to the Baltimore case. However, these are all short trip cases. The great passageway which is form the Baltimore to the peak of Florida is among its long paths. Elsewhere, the ships will sail via the Antebellum Itineraries, which is form the Jacksonville and the Charleston.This occurs at the periods form November throughout April. The Okeechobee trip is offered as an occasional trip. As the 2008 approaches, other cruises will be introduced by the Pearl Seas Cruises. There destinations are proposed to been Canadian Marmites, St. Lawrence Seaway Caribbean American itineraries and also the Central American itineraries. This 2008 activity plan is a clear indication of the high level of expansion by the company in their itineraries. (Still, 2001) The target market of the compa ny is to include the whole of the US costal line.However, this is only its immediate (short run goals) with the intensity into its expanding phenomena, the company is perhaps to embrace its final attribute of expanding to reach the various water ways and ports in the US coastal strip. Elsewhere, its greatest achievement would be expanding to the broad foreign market. Foreign market is seen as an attribute in which the company will develop in capacity to even reach the global market, through mergers, acquisitions, starting or even through Franchises. Miscellaneous details The American Cruise company has continued to embrace the sovereignty as one the largest small ship company in US.Over the last three years, it has had an average of reported profit amounting to $ 694 per annum. The price of it share in the American stock market has considerable been improving. Since is rebirth in 2002, it has continued to show an increasing level of profit. . References Cruise Review and News (2007) American Cruise Lines. Retrieved on 7th Nov. 2007 from http://www. cruisecritic. com/reviews/cruiseline. cfm? CruiseLineID=57 Haigh, M. S. , Nomikos, N. K. , & Bessler, D. A. (2004). Integration and Causality in International Freight Markets: Modeling with Error Correction and Directed Acyclic Graphs.Southern Economic Journal, 71(1), 145+. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5006987575 Hazell, L. C. , & Fitzpatrick, S. M. (2006). The Maritime Transport of Prehistoric Megaliths in Micronesia. Archaeology in Oceania, 41(1), 12+. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5015172724 Morgan, C. (2004). The Public Nature of Private Industry in Confederate Georgia. Civil War History, 50(1), 27+. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5006500885Sagers, C. (2006). The Demise of Regulation in Ocean Shipping: A Study in the Evolution of Co mpetition Policy and the Predictive Power of Microeconomics. Vanderbilt Journal of Transnational Law, 39(3), 779+. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5019554251 Still, C. (2001). Thinking outside the Box: The Application of COGSA's $500 Per-Package Limitation to Shipping Containers. Houston Journal of International Law, 24(1), 81+. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5000945085 Talley, W.K. (2000). Ocean Container Shipping: Impacts of a Technological Improvement. Journal of Economic Issues, 34(4), 933. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5001180959 The state of conflict that has come to define the relationship between the United Sates of America and the tiny island nation of Cuba is, unknown to many, as old as the history of Cuba as a nation state. The first signals of conflict came early in the life of Cuba as a Spanis h colony when in 1795 Negro slaves and whites came together to revolt against the Spanish overlords.That momentous occasion caused a great disquiet amongst slave owners in the American south, and thus attracted the keen attention of the American establishment, who did not desire such an example to be set too close to home. The first overt reaction of the American rulers at that time was to make overtures to Spain for the purchase of Cuba. In this respect, Thomas Jefferson, the American President, was reported to have said in 1809 that, â€Å"I candidly confess that I have ever looked upon Cuba as the most interesting addition that can be made to our system of States. †Though Spain persistently rejected the American request, the Americans never dropped their desire to annex Cuba by any possible means. This ardent American desire and policy on Cuba was summed up by the then American Secretary of State, John Quincy Adams, â€Å"These islands (Cuba and Puerto Rico) are natural a ppendages of the North American continent, and one of them (Cuba) almost within sight of our shores, from a multitude of considerations has become an object of transcendent importance to the commercial and political interests of our Union†¦ These are laws of political as well as physical gravitation.† It was therefore only a matter of time before the first real conflict over Cuba erupted. When it did, it did so in two fronts, one involved America and Spain while the other involved Cubans themselves, who desired independence from Spain. In 1823, US President Moore declared the Western Hemisphere, including Cuba, as an exclusive sphere of influence of the United States, warning European powers to take heed and steer clear of any interference in the affairs of any nations within the so declared ‘sphere of influence’.Subsequently, in 1898, Cuba became a theatre of war between the Americans and Spain, the Spanish American War. This was coincidentally at a period C uban revolutionaries claimed they were on the threshold of liberating Cuba from Spanish rule. The Americans won in the ensuing war and subsequently took control of the governance of Cuba as protectorate. What was to follow was a despoliation of the Cuban state by successive American appointed administrators, land speculators, profiteers, the Mafia and their local Cuban collaborators.Attendant to these was the economic emasculation of the Cuban nation as American colonists swooped on the island and acquired large swats of fertile farm land, marginalizing the local people, and in so doing sowed the seeds of the many conflicts that were later to help shape American-Cuban relations for almost the past half century. 2. 7. 1. The Actors General Fulgencio Batista Formerly a Sergeant in the Cuban Army, Batista came into limelight when he led a group of sergeants, ‘The Revolt of the Sergeants’ to overthrow a sitting government in 1933.Though he relinquished power shortly afterwa rds to become the army chief, he made himself the elector of the next president and subsequent five others until 1940 when he contested and won the presidency for himself. Successive American administrations found him a willing ally and were in tacit support of his conducts and rule over Cuba. Under Batista, the Miami mafia mob became the co-rulers of Cuba. Batista was to retire from presidency in 1944 only to make a quick come-back in 1948 when he was elected into the Cuban senate. Later in 1952 he sidestepped the elections and took over power in a coup.With the support of U. S administration of Harry Truman, Batista cancelled the elections all together and became the maximum leader. Fidel Castro was one of the contestants in that botched election. Fidel Alejandro Castro. The son of a wealthy Creole farmer, Castro was educated in Jesuit schools, and finally graduated from the Havana University with a law degree. Disillusioned with the poverty he saw around him and the display of we alth by the American colonists, Fidel joined the political movement with intent to stand for an election into the Cuban congress.When this desire of his was scuttled by the cancellation of the elections and the usurping of power by General Batista in 1952, he took up arms with other rebels, ‘The July 26 Movement’, including his brother Raul to wrest power out of Batista forcefully. Their attempt at rebellion in 1953 ended in disaster and the killing of most of the rebels. Fidel, his brother and a few others were arrested, tried and jailed, but later released. Castro was to strike again, and eventually defeated Batista’s soldiers to take over power in 1959.On assumption of power, Castro took several populist actions, which endeared hum to the down trodden Cuban masses. But his later actions of nationalizing all American run and owned businesses in Cuba, closing down all casinos, whore houses and sending the mafia on the run, as well as his switch to communism earn ed him powerful enemies in the American establishment. Ever since, American Cuban relations can be effectively summed up in two this short term- mutual hostility. Dwight D.Eisenhower. Two-term president of the U. S, 1953-1961, Eisenhower was in power at the height of the Castro rebellion, which ousted General Batista from power. Eisenhower was the architect of initial American policy response to the Castro challenge. Hostility was the initial and consistent response to the Castro regime. This response was later to be institutionalized, thus setting the mood for subsequent US-Cuban relations. Eisenhower took far-reaching steps to checkmate Castro.Some of these steps were the authorization of the CIA to train Cuban exiles to form a force that could overthrow Castro and install a more acceptable regime in Cuba, cancellation of American orders for Cuban sugar, prohibition of American exports to Cuba, putting pressure on European banks to cancel loans meant for Cuba, blacklisting of nava l vessels carrying cargo to or from Cuba, massive propaganda offensive to discredit the Cuban regime, liaisons with and use of mafia links to try to assassinate Castro or destabilize Cuba. J. F.Kennedy. He succeeded Eisenhower as American President, and true to his election campaign pledge to ‘do something about Castro’, Kennedy went a step further by authorizing and sponsoring the failed Bay of Pigs invasion of Cuba in 1961 by Cuban dissidents. This was in addition to other US sponsored covert and overt terrorist attacks against Cuban interests and attempts on Castro’s life. Kennedy followed up late with the termination of diplomatic relation with Cuba in 1961. Some other attempts by Kennedy to deal with Castro included:Operation Mongoose, whose aim was to overthrow Castro through acts of terrorism and subversion; The invoking of US military intervention to â€Å"overthrow the Castro regime; Operation Peter Pan, (1960-62) in which the US colluded with the Catho lic Church transport 14,048 unaccompanied children between 6 and 18 years old out of Cuba for the US; Institution of a full trade embargo against Cuba; Punishment and denial of US aid for third countries which allowed assistance or commerce with Cuba; Imposition of travel to Cuba on US citizens;Though President Kennedy was assassinated in circumstances which some speculations have linked to the Castro issue, the US policy direction on Cuba did not change, but had rather intensified with successive US regimes. 2. 7. 2. Issues Basically the Issues at stake in American-Cuban relations could be described as both ideological and territorial.The United States on the one hand had a long standing interest to annex or control Cuba and to have the island nation come under its capitalist mode of operation, whereas Cuba had traditionally resisted any such designs by the Americans and had under Fidel Castro towed the communist line of production and ideology. 2. 7. 3. The Underlying factors Many recent commentators on the unending face-off between Cuba and the United States have wondered why the US has found it difficult to accommodate the Cubans and their communist form of government at a time that they have normalized relations with such other communist regimes as China and Vietnam.`It is quite obvious that such commentators have failed to take into account the full weight of the underlying factors that have helped shape and instruct American policy direction on Cuba. Some of these factors can be discussed below: 1. The ideological war: Capitalism vs Communism. It is an established fact that the United States is as rabidly capitalist as the former Soviet Union was Communist. So when Castro concluded his revolution by tilting towards communism he inadvertently touched America at it sorest point.It was a declaration that an enemy was at its back door. Thus Cuban American relations were ab initio anchored on diametrically opposing posts the moment Castro took over power. 2. Proximity. Cuba’s proximity to the US which put it within the so-called American sphere of influence in the Western Hemisphere precluded that the US must, as a matter of national security, have interest in what happens in its back waters. And what the American administrations loathed most was for Cuba to become an example which other Western hemisphere counties could look up to and copy.3. Interest groups. Most of the American business interests that were nationalized by Castro are today part of the dominant group ruling the United States, and dictating state policy. They have not forgiven Castro and will never forgive him for disrupting their lucrative business operations in Cuba. The same is true of the mafia elements within the Cuban exile groups. 4. Resistance from ordinary Cubans. Having witnessed firsthand what unbridled capitalism and corrupt did to them the first time they came under U.S rule, ordinary Cubans are loathe to again welcome any American hegemony over the m. 2. 7. 4. Scope The scope and ramifications of US-Cuban relations crossed national and continental boundaries in the 70’s and 80’s when Cuba embarked on shoring up leftist regimes or groups in South America and Africa. These attempts brought them into direct conflict with the US; with disastrous effects in Nicaragua, Grenada, Angola, Ethiopia and Congo democratic republic.Consequently, local conflicts were internationalized, protracted and resulted in tremendous human tolls. The effect of almost fifty years of American economic embargoes on Cuba has also been horrendous on Cubans. 2. 7. 5. Previous Attempts at Settlements The first known attempt at settling the disputes between the US and Cuba was in 1964 when Cuba offered to desist from exporting revolutionary ideals to South America if the US would halt its hostile actions against Cuba. The US refused, urging Cuba to first stop close relations with the USSR.It was also speculated that Kennedy had intended to engage Castro in negotiations shortly before he was assassinated in 1965. Another secret attempt was made at reconciliation in 1974, but was supposedly cancelled after Cuba got involved in Angola. President Ford at that time linked normalization of relations with Cuba with its voluntary pull out from Angola. It was under Jimmy Carter that the most real attempts at the normalization of relations with Cuba were initiated when he lifted the travel embargo on Cuba.A maritime boundary and fishing accord was signed by both countries during this period, while diplomatic interest sections were opened by both countries in Havana and Washington, respectively. Other bilateral negotiations were started; the American Congress also repealed the provision of the Foreign Assistance Act of 1961 banning aid to countries permitting their vessels to trade with Cuba. The National Security Council also rescinded the ship blacklist. 2. 7. 6. Phases and IntensityThe Kennedy era was perhaps marked zenith of Ameri can-Cuban hostility. It was then that the botched Pay of Pigs invasion of Cuba was carried out in 1961, same as the Cuban missile crisis, which involved the installation of Soviet nuclear missiles in Cuba in 1962. Though the missile crisis was eventually resolved, when the Soviets willingly dismantled the missiles, the crisis almost precipitated a nuclear war between the US and the Kruschev-led Soviet Union. Several U.S instigated attempts were also made during that same era to assassinate Fidel Castro, but the climax was the assassination of President Kennedy himself. The other high intensity points in American-Cuban relations were in the 70’s and 80’s when Cuba actively supported leftist insurrections against American backed dictatorships in Africa and South America. The most notable of these countries where Cuban forces played direct combat role were Angola, Ethiopia, Grenada, El Salvador and Nicaragua. The U. S countered these Cuban moves by pouring in massive supp ort to the opposing groups.However, the relations between the have traditionally been known to experience upward and down swings in response to the parties in power in Washington- much more favorable under the Democrats and less so under the Republicans. 2. 7. 7. Balance of Power In territorial size and resources, Cuba is no match to the United States, but the active support of the Soviet Union at the start of the Castro revolution and until the collapse of the Soviet Union brought a semblance of balance of powers between the two feuding neighbors- U. S and Cuba.However, at the collapse of the Soviet Union, there were expectations that Cuba would falter and collapse, but world public opinion and the support of Canada, the European Union, China and of late Venezuela have helped stabilize Cuba ideologically and materially. 2. 7. 8. Capacity and Resource There is no room for comparison of the resources and capacities of both countries, the U. S is way ahead of Cuba in all respects, but as explained earlier what Cuba has going for it are favorable world opinion and the resilience of its leadership and people. 2. 7. 9.State of the Relationship The support for the continuing US embargo of the island nation have been completely eroded, as many of the nations of Europe, Latin America, Asia and Africa have since normalized relations with Cuba. Even fellow North American countries of Canada and Mexico have consistently opposed US embargoes on Cuba, especially as it affected US subsidiary companies within these two nations. Even many Americans have come to question the wisdom of continuing with the hostilities when it is obvious that Cuba, at present, poses no threat to U.S national security. Visits have been made of late by sitting congressmen and other influential Americans in efforts to settle the disputes between the two neighbors that are so close but yet so far apart. Works Consulted Chadwick Ian. History of Cuban American relations. Retrieved March 30, 2007 from h ttp://www. ianchadwick. com/essays/cubahistory. html Siera J. A. Compilations of History of Cuba. Retrieved March 30, 2007 from http://www. historyofcuba. com/history/batista. htm

Learn to Play the Earnings Game Essay Example

Learn to Play the Earnings Game Essay Example Learn to Play the Earnings Game Essay Learn to Play the Earnings Game Essay Learn to Play the Earnings Game (and Wall Street Will Love You) The pressure to report smooth, ever higher earnings has never been fiercer. You dont want to miss the consensus estimate by a pennyand you dont have to. By Justin Fox In January, for the 41st time in the 42 quarters since it went public, Microsoft reported earnings that met or beat Wall Street estimates The 36 brokerage analysts who make the estimates were, as a group, quite happy about this the 57 cents per share announced by the software giant was above their consensus of 51 cents, but not so far above as to make them look stupid.Investors were happy too, bidding the already high-priced shares of the company up 4% the first trading day after the announcement. In short, for yet another quarter, Microsoft had kept its comfortable spot in the innermost sphere of corporate paradise. This is what chief executives and chief financial officers dream of: quarter after quarter after blessed quarter of not disappointing Wall Street.Sure, they dream about other things too mega-mergers, blockbuster new products, global domination. But the simplest, most visible, most merciless measure of corporate success in the 1990s has become this one: did you make your earnings last quarter? This is new. Executives of public companies have always strived to live up to investors expectations, and keeping earnings rising smoothly and predictably has long been seen as the surest way to do that.But its only in the past decade, with the rise to prominence of the consensus earnings estimates compiled first in the early 1970s by I/B/E/S (it stands for Institutional Brokers Estimate System) and now also by competitors Zacks, First Call and Nelsons, that those expectatio ns have become so explicit. Possibly as a result, companies are doing a better job of hitting their targets: for an unprecedented 16 consecutive quarters, more SP 500 companies have beat the consensus earnings estimates than missed them.Microsofts prodigious record of beating expectations is due in large part to the companys prodigious growth, from annual revenues of $198 million at the time of its IPO in 1986 to more than $9 billion now. It also helps that it dominates its industry. But even the Microsofts of the business world have a few tricks up their sleeve. The most obvious is to manage earnings. Managing earnings has a pejorative, slightly sleazy ring to it, but even at the most respected of companies accounting and business decisions are regularly made with smoothing or temporarily boosting earnings in mind.Not all are as up front about it as General Electric, where executives say openly that they dont think their company would be as popular with investors if its profits wer ent so consistent and predictable. But neither can it be a complete coincidence that of the top ten companies on Fortunes 1997 Most Admired list, sevenCoca-Cola, Merck, Microsoft, Johnson Johnson, Intel, Pfizer, and Procter and Gamblehave missed fewer than five quarters in the past five years, according to I/B/E/S (and two of the other three dont have any earnings estimates to meet.Meeting the estimates is made easier by the fact that theyre not set in a vacuum-analysts rely heavily on guidance from companies to form their forecasts, and companies have in recent years figured out that it pays to guide the analysts to a lower rather than a higher number. At least partly as a result of this expectational interplay, the price of missing a quarter has risen sharply, particularly among high priced growth stocks.In the growth stock fraternity, missing by a penny now implies the height of corporate boneheadedness that is, if you couldnt find that extra penny to keep Wall Street happy, th en your company must really be in trouble, and since missing by a 1 penny is already going to send your stock plummeting, youre better off missing by a dime or two and saving those earnings for the next quarter. Microsoft missed by a penny once back in 1988, when such behavior was not yet considered unbearable gauche.Nowadays its executives treat analysts to a constant patter of cautionary and even downbeat words about the future that the analysts say is a combination of genuine paranoia and astute expectations management. After a typically grim presentation by CEO Bill Gates and sales chief Steve Ballmer at an analysts meeting two years ago, Goldman Sacks analyst Rick Sherlund ran into the pair outside and said, Congratulations. You guys scared the hell out of people. Their response? They gave each other a high-five, Sherlund recalls.But Microsoft, unlike some companies less attuned to the rules of this game, also lets analysts know when theyre too pessimistic. Thats what CFO Mik e brown did, along with the usual warnings about slower growth ahead, during his regular quarterly conference call after the January 17 earnings release. He told the hundreds of analysts, money managers, and journalists listening in that earnings would be more than a nickel, less than a dime higher than predicted for the current quarter, and another penny higher in the next.How did he know this? That involves something that looks a lot like earnings managementalthough not of the sort that provokes penalties from the Securities and Exchange Commission or nasty newspaper articles about inflated profits. Starting around the unveiling of Windows 95 in August 1995, Microsoft has followed a uniquely conservative How the pros do it: method of accounting for the Plan ahead: Time store openings or asset sales to keep software it shipsdeferring earnings rising smoothly.In most cases, this is earnings recognition of large chunks of management at its least controversial. The master of this is r evenue from a product until long General Electric. after the product is sold. The Call it a sale: Madly ship products during the final days of a reasoning is that when weak quarter, or hold off if the quarters in the bag. Theres somebody buys software in leeway in revenue recognition too! Tech companies often 1996, theyre also buying the book sales aggressively to boost profits, but Microsoft is right to upgrades and customer support in 1997 and 1998.If it now demonstrating the virtues of belated recognition. hadnt been for the new Capitalize it: Usually its pretty clear what costs you accounting technique, the capitalize and which you expense. But there are gray areascompany would have had to -software RD is oneand you can get creative about the report a sharp rise in profits in length of time an asset should be depreciated. America the latter half of 1995, then a Online was, until it stopped in October, a noted aggressive sharp drop in the first half of capitalizer. 996 a turn of events that might Write it off: Take a big bath and charge a few hundred have sent its stock price reeling million in restructuring costs, and meeting future earnings instead of the smoothly rising targets will be easier. earnings that it did post. By the end of 1996, Microsoft had taken Use your reserves: Build them up for product returns, bad in $1. 1 billion in unearned loans, and insurance losses; drain them down to bolster revenue that it had yet to earnings when business sags. Outsiders say this is one of recognize on its income the secrets of GEs success, but the company says thats statements. Because of this, just not true. they know what theyve got in the bag from one quarter to the next, says Marshall Senk, a Robertson Stephens analyst who follows the company. Which led him to conclude that Microsoft does a better job of leveraging accounting I would almost say its a competitive weapon than anybody else in the industry. Microsoft treasurer Greg Maffei doesnt like this interpretation. Im a financial officer of this company, and I would be in deep doo-doo with the SEC if that was what was driving our revenue recognition policies, he says. Our revenue recognition policies are driven by GAAP. That isnt quite true. In fact, GAAP-the Generally Accepted Accounting Principles companies follow in preparing financial statementsmay in this area be driven by Microsoft, Virtually no other software company does its accounting the way Microsoft does, but standards setters, egged on by the industry leader, are starting to push in that direction. Thats how GAAP works. Its constantly changing and evolving, particularly in businesses that havent been around for long. This is only natural, but it can be maddening for people trying to understand what a companys reported earnings really mean. With industries that havent been in the market before, you tend to see a lot of monkey business because accountants, even if well intentioned dont know what the standards are, sa ys Martin Fridson, high-yield debt strategist at Merrill Lynch and a financial statement analysis guru. Underwriters of small companies and people who make a living doing IPOs are very conscious of the markets inability to see what the correct measures are. Add that confusion to the general cacophony of accounting quirks and judgment calls in financial statements, and you begin to realize that earnings are nothing but a vague, approximate measure anyway.One of modern accountings guiding principles is that of matching revenues and expenses over time. Thats why the cost of building a factory that will be churning out cars for 20 years gets expensed over those 20 years, not when the money is actually spent. But such matching requires making all sorts of guesses and estimates about the future. These judgments how much to set aside for potential loan losses, what rate of return to expect on a pension fund, over how many years to spread out the cost of a factory make earnings a better reflection of the long-term economic health of a company.They also provide ample room for managers to fudge. This is why financial analysts and money managers are supposed to know how to look beyond a companys bottom line to find the true economic value in its balance sheet or cash flow statement or, best of all the footnotes to its financial statements. In the bull market of the past 15 years, however, analytic rigor hasnt always been required to make good stock picks. Nobodys paying attention says Robert Olstein, who in 1970 co-authored an influential newsletter called the Quality of Earnings Report and now runs the $140 million Olstein Financial Alert fund. If Microsoft is the archetype of a hugely successful company trying to tone its earnings down so people dont get their expectations too high, Boston Chicken bespeaks an altogether different and more common phenomenon. It is a business that isnt successful yet, but has used accounting to help convince investors that it already is, or at least will be soon.This has enabled it to raise more than $800 million in stock and convertible debt offerings, money which has been essential not only to the companys rapid growth from 175 Boston Chicken restaurants when it went public in one of the decades hottest IPOs in November 1993 to 1,100 restaurants (rechristened Boston Markets) and 325 Einstein Brothers and Noahs bagel stores today but to its very survival. Thats because, economically speaking, Boston Chicken is still a big money loser, as probably can be expected of a startup restaurant chain.All the losses, however, have been incurred by financed area developers, or FADs, which is Boston Chicken lingo for large-scale franchisees that act a lot like subsidiaries but arent. If they were, their losses would have to lie reported on Boston Chickens income statement (they are instead disclosed, on an annual basis only, deep in the text of the companys SEC filings). The FADs get 75% of their startup capital in loans from Boston Chicken, and with that money they pay the company the royalties, franchise fees, and interest that allow it to report ever-rising profits.Once the restaurants start making money, Boston Chicken exercises its right to convert the loans into equity, officially dubbing the FADs subsidiaries and allowing their profits to flow to its bottom line. Thats the plan, at least, as outlined with somewhat more delicacy in the companys 1993 annual report. And so far it has worked. Sure, business publications have printed nasty articles about the company, accounting professors have warned their students about it, and short sellers have lined up in droves to place bets that its stock price will crash. But Boston Chickens stock price has more than held its own.Part of investors sanguinity has to do with the track record of the two former Blockbuster Entertainment bigwigs who run it, CEO Scott Beck and President Saad Nadhir, and the belief that America really is hungry for takeout chicke n, ham, and meat loaf. But it sure doesnt hurt, analysts and money managers say, that not only is Boston Chicken able to report earnings every quarter, but those earnings have so far never failed to meet or surpass analysts expectationseven though those analysts all know that the earnings in no significant way reflect how the company is doing. Its a very smart strategy, says Michael Moe, a growth stock strategist at Montgomery Securities. It has made enormous amounts of capital available to them at an attractive price that most companies can only dream of. Boston Chicken CFO Mark Stephens says his company was structured not to please Wall Street but to provide flexibility and motivate its franchisees. But he acknowledges that a byproduct of where we are with the structure is that we have a public entity with an earnings complexion that is attractive. He adds: Its like sausage. I love the product; just dont show me how its made. Another company that has used aggressive accounting t o raise money is America Online. AOLs practice of capitalizing and writing off over two years the cost of those ubiquitous free disks and ads it used to lure members was highly controversial and was abandoned in October. But for years it allowed the company to post earnings most of the time instead of losses, which helped it to raise more than $350 million on the stock market.Says Wharton School accounting professor Richard Sloan, referring to both Boston Chicken and AOL: They just view accounting as another marketing tool that they should use to try and promote their ideas. Boston Chicken and America Online are extreme cases. So is Microsoft. The mass of companies lead lives somewhere in between. When they manage earnings, they do it simply to smooth the ups and downs of business life, and of course to meet those Wall Street earnings estimates. Is there evidence of widespread earnings management? You bet. Looking at 17 years of I/B/E/S data on more than 1,000 companies, Jeff Payne of the University ofMississippi and Sean Robb of Canadas Wilfrid Laurier University found an unmistakable pattern of using accruals (i. e. , judgment calls) to manage earnings upward if they were below the analysts consensus and a somewhat less pronounced trend of managing them downward if they were above the consensus. General Electric, a company whose name invariably comes up when you ask Wall Streeters about earnings management, says it does what it does because the stock market demands it. We think consistency of earnings and no surprises is very important for us, says Dennis Dammerman, the companys CFO. Were a very complex, diverse company that no one from the outside looking in can reasonably be expected to understand in complete detail; so our story to the investing world is, we have a lot of diverse businesses, and when you put them all together they produce consistent, reliable earnings growth. And if something inconsistent comes along say a one-time gain from selling off a factory we have a pretty consistent record of saying, Okay, were going to take these large gains and offset them with discretionary decisions, with restructurings. These tactics have helped GE meet or beat expectations every quarter but one in the past five years, and they certainly havent hurt it among investors, even skeptical ones. They are using all sorts of techniques to smooth earnings, says Howard Schilit, whose Center for Financial Research and Analysis keeps institutional investors posted on companies earnings numbers may be hiding business troubles. If I wrote that to my clients, there would be a big yawn. Another investor favorite that produces awfully smooth earnings is Coca-Cola, which in the third quarter of last year took advantage of $520 million in one-time gains from a settlement with the IRS and the sale of some bottling operations to recognize $500 million in supposedly one-time hits. One of those hits, $200 million used to reduce the inventories of soft dri nk concentrate at bottling companies, was explained as a move to free up bottlers capital but was seen as an admission by Coke that it had been shipping concentrate early to artificially boost earnings.That hurt the companys stock price for a few months, but by taking the charge Coke gave itself the option of using inventory buildup at its bottlers to pad profits later. When they pull it out in 1998 or 1999 to keep up their 19% or 20% earnings growth, everyone will have forgotten, says Boy Burry, who follows Coke for Oppenheimer Co. Will everyone really forget? If financial markets are in fact efficient, economic reality will in the long run win out over accounting games.But the long run can seem awfully far away when youve got a posse of analysts breathing down your neck every three months. Many corporate executives also seem to think investors take earnings numbers at face value; they write outraged letters to the Financial Accounting Standards Board, accountings top rule-making body, whenever it proposes a change that might reduce reported earnings. They obviously dont believe in efficient markets, says Neel Foster, a FASB member and former treasurer of Compaq Computer. Academic evidence shows that generally, accounting changes dont result in changes in stock prices. But it also shows that people that make greater disclosures generally have a lower cost of capital. They dont believe that either. Even this doesnt explain why some companies seem to persist in managing earnings in the face of Wall Street disbelief. Food maker H. J. Heinz grew rapidly during the 1980s but has since needed repeated asset sales and other special items to keep earnings steadyand its stock has lagged.Last June the company announced quarterly earnings of 45 cents a share but failed to mention that four of those cents came from the sale of a magazine and two pet food brands. It was immaterial, a company spokesman says now, but it nevertheless infuriated some analysts, who found out only when they received the annual report a month later It didnt help the stock price either, although the stock later bounced back on rumors of a major restructuring. What might motivate such corporate behavior?One answer is money. High-level executives like to get paid a lot, and it so happens that many bonus plans including the one at Heinzare built around meeting earnings targets. The rise of performance related It so happens†¦ that many bonuses has taken earnings tweaking to new heights, say some executive bonus plans are market watchers. Theres no reliable measure of such activity, but built around meeting one rough gauge, comparing profits reported to the Internal earnings targets. Revenue Service by U. S. orporations with profits reported to shareholders (the measure that counts for bonuses) by companies on the SP 500, gives a clue. It shows some wild relative swings in SP earnings in the late 1980s and early 1990s, probably a result of big corporations using one tim e charges to pay for restructuring costs like plant closures. This write-off binge ended in 1994. Which could mean either that earnings quality is getting better or that companies are coasting to ever-higher earnings now because they hid ongoing costs back then.While theres no conclusive proof that managing earnings is on the rise, it is undeniable that the game is being played more aggressively than ever. This isnt necessarily bad. The good side of what a lot of people call the game of managing expectations is that companies realize that they have to give better guidance to the market as to what their prospects are, says Ed Keon, senior vice president for marketing at I/B/E/S.The downside of giving better guidance-apart from the hours of valuable top management time that it eats up is that the investors most interested in the estimates are not exactly the well-run corporations best friend. They are the momentum guys mutual fund managers and hedge fund jockeys and individual invest ors who jump on the bandwagon when a companys earnings growth is accelerating and beating the analysts estimates, and jump off the second it misses a quarter. When it stops, they sell you cannot break this algorithm, says a resigned Eric Benhamou, chief executive of 3Com Corp. which lost $7 billion in market value in a matter of weeks this year as it became known that its earnings for the quarter ended February 25 would nor not meet analysts expectations. The moral of the story: Unless youre a trader, ignore the short-term kabuki that the companies and the analysts perform for each other, but educate yourself about the accounting games that companies play. If enough investors did, it could mean that the smartest earnings and expectations management strategy of the 2000s will be dont bother.