Wednesday, June 10, 2020

Drunk Driving Do Not Become a Potentional Killer!

Drunk Driving: Do Not Become a Potentional Killer! It is argued whether there is a permissible dose of alcohol, which the driver can get before driving a vehicle. All professional therapists deny the existence of such a dose. Even if a person’s blood contains small amount of alcohol, he or she ceases to perceive the real world in a proper way. When we talk about drivers, they can no longer normally accept moving light sources and determine the distance between riding cars, when under influence of alcoholic beverages. As a result, safety of driving is greatly reduced. If the driver’s blood contains 0,5 0,8 pro mille of alcohol, he or she not only ceases to perceive the distance between moving cars, but also respond to the traffic lights correctly. When the blood alcohol level rises to 0.8 1.2 pro mille, the driver falls into a state of euphoria. As a result, they significantly overestimate their own capabilities and often begin to scorcher. In this case, not only the driver may be seriously damaged, but also other people are exposed to great danger. When the level of alcohol in the driver’s blood reaches 1.2 2.4 pro mille, it is strictly forbidden to sit behind the wheel. There is a strong possibility that during driving an unforgivable error that can cause the most catastrophic consequences can be committed. The point is that such alcohol levels in blood result in inadequate behavior of the driver. It goes without saying that alcohol consuming and driving are incompatible. Even a small dose of alcohol may cause an accident. When it goes to higher dosages, there is no doubt concerning the fact that driving in such a condition is extremely dangerous.

Saturday, May 23, 2020

Degrees of Freedom for Independence in Two-Way Table

The number of degrees of freedom for independence of two categorical variables is given by a simple formula:   (r - 1)(c - 1).   Here r is the number of rows and c is the number of columns in the two way table of the values of the categorical variable.   Read on to learn more about this topic and to understand why this formula gives the correct number. Background One step in the process of many hypothesis tests is the determination of the number degrees of freedom.   This number is important because for probability distributions that involve a family of distributions, such as the chi-square distribution, the number of degrees of freedom pinpoints the exact distribution from the family that we should be using in our hypothesis test. Degrees of freedom represent the number of free choices that we can make in a given situation. One of the hypothesis tests that requires us to determine the degrees of freedom is the chi-square test for independence for two categorical variables. Tests for Independence and Two-Way Tables The chi-square test for independence calls for us to construct a two-way table, also known as a contingency table. This type of table has r rows and c columns, representing the r levels of one categorical variable and the c levels of the other categorical variable. Thus, if we do not count the row and column in which we record totals, there are a total of rc cells in the two-way table. The chi-square test for independence allows us to test the hypothesis that the categorical variables are independent of one another. As we mentioned above, the r rows and c columns in the table give us (r - 1)(c - 1) degrees of freedom. But it may not be immediately clear why this is the correct number of degrees of freedom. The Number of Degrees of Freedom To see why (r - 1)(c - 1) is the correct number, we will examine this situation in more detail. Suppose that we know the marginal totals for each of the levels of our categorical variables. In other words, we know the total for each row and the total for each column. For the first row, there are c columns in our table, so there are c cells. Once we know the values of all but one of these cells, then because we know the total of all of the cells it is a simple algebra problem to determine the value of the remaining cell. If we were filling in these cells of our table, we could enter c - 1 of them freely, but then the remaining cell is determined by the total of the row. Thus there are c - 1 degrees of freedom for the first row. We continue in this manner for the next row, and there are again c - 1 degrees of freedom. This process continues until we get to the penultimate row. Each of the rows except for the last one contributes c - 1 degrees of freedom to the total. By the time that we have all but the last row, then because we know the column sum we can determine all of the entries of the final row. This gives us r - 1 rows with c - 1 degrees of freedom in each of these, for a total of (r - 1)(c - 1) degrees of freedom. Example We see this with the following example.   Suppose that we have a two way table with two categorical variables.   One variable has three levels and the other has two.   Furthermore, suppose that we know the row and column totals for this table: Level A Level B Total Level 1 100 Level 2 200 Level 3 300 Total 200 400 600 The formula predicts that there are (3-1)(2-1) 2 degrees of freedom.   We see this as follows.   Suppose that we fill in the upper left cell with the number 80.   This will automatically determine the entire first row of entries: Level A Level B Total Level 1 80 20 100 Level 2 200 Level 3 300 Total 200 400 600 Now if we know that the first entry in the second row is 50, then the rest of the table is filled in, because we know the total of each row and column: Level A Level B Total Level 1 80 20 100 Level 2 50 150 200 Level 3 70 230 300 Total 200 400 600 The table is entirely filled in, but we only had two free choices.   Once these values were known, the rest of the table was completely determined. Although we do not typically need to know why there are this many degrees of freedom, it is good to know that we are really just applying the concept of degrees of freedom to a new situation.

Sunday, May 17, 2020

Diversity and Inclusion - 1102 Words

Diversity is a notion, when applied to the majority of circumstances, can create a positive conclusion. The trick to producing a positive outcome is often how the different aspects are brought together. Consider a classic dinner combination peas and carrots, the two colors look appealing and the two flavors comes together as one making a superb side dish. Now consider oil and water, these two substance are not often considered a good combination. Although, this is not always the case; olive oil and vinegar (which is water based) when mixed, come together into a delectable salad dressing. Diversity and inclusion should also apply to humans by bringing people together who are different it can creates a whole that is enhanced by the†¦show more content†¦(Harvey, C. P., Allard, M. J. 2009, p. 49). In reviewing text book Racial and Ethnic Groups put forth the notion that socialites are made-up by a number of different groups and subgroups. The two main groups are the dominant or the majority, and the other is subordinate or the minority. It is also purposed as highlighted by Schaefer (2011) that â€Å"There are four types of minority or subordinate groups. All four, except where noted, have the five properties previously outlined. The four criteria for classifying minority groups are race, ethnicity, religion, and gender.† (Schaefer, R. T. 2011, p. 7). In the two text books there is a definite effort to try to bring order to cultural diversity by dividing the population into groups. This approach, although logically understandable and useful, needs to consider that these groups are made-up by individual people, and all people are unique. With what ethnic, cultural, or other groups do you identify? When I considering the groups that I identify with there are a number of primary groups that come to mind family and friends, religious beliefs, American, work, student, male, and recreational activates. With these primary groups in mind there are certainly subgroups that fall under them. In terms what this means to me and who I am, these category’s truly part of my day-to-day life. But, I am not the categories, rather I view myself as an individual, and that the different aspects of who I amShow MoreRelatedDiversity And Inclusion Of Diversity1152 Words   |  5 PagesDiversity means understanding that individuals are unique or different in a particular way, leaning to accept and live with people with this differences. Interacting with people from different, religious beliefs, races, ethnicity, sexual orientation, socio-economic status, age, gender, physical abilities, political beliefs, or other ideologies, sexual orientation. Inclusion mean a state of being a part or ident ifying with a particular societal group. Diversity and inclusion on campus are very importantRead MoreDiversity And Inclusion For Diversity1920 Words   |  8 Pagessimplest terms diversity and inclusion can be explained by diversity being the mix and inclusion is getting the mix to work well together. In broader terms, diversity is anything that can be used to differentiate groups and people from one another. This can be anything from life experiences, learning styles, personality types to race, gender, sexual orientation or even county of origin. These differences can be used to achieve quality teaching, learning and support services. Inclusion is used to describeRead MoreInclusion and Diversity5182 Words   |  21 Pagesstart in life and with support to fulfil their potential (DCSF 2008b). The statutory guidance states: ‘Providers have a responsibility to ensure positive attitudes to diversity and difference – not only so that every child is included and not disadvantaged, but also so that they learn from the earliest age to value diversity in others and grow up making a positive contribution to society’ (DCSF 2008:9). Having such an understanding enabled me during my placement experience, to be particularlyRead MoreDiversity and Inclusion1999 Words   |  8 Pagesat any time. IEP’s must be reviewed every 3 years by law. Thanks to laws such as IDEA, students with special needs can now enjoy an education on par with that of their non-disabled peers. These laws also benefit all students by adding to the diversity of the school environment, creating more opportunities to develop citizens who are culturally and differentially sensitive. References Gargiulo, R. (2012). Special education in contemporary society: An introduction to exceptionality (4th edRead MoreQuestions on Diversity and Inclusions926 Words   |  4 PagesWhat are the dimensions of cultural diversity? There have been a variety of attempts to develop a concise definition or reliable classification of what is meant by cultural diversity for a number of decades. Although there is no universal system available for determining what cultural diversity is there are several reappearing characteristics that are used by many of the experts attempting to arrive at a recognized system (Fearon, 2003). The first generalized dimension used is the concept ofRead MoreDiversity And Inclusion Of An Organization1204 Words   |  5 Pagessurvey, 24 executives were asked way advancing diversity in their organizations was so important to them. The majority believe â€Å"it was a business imperative because their companies needed it to stay competitive, and they believed it was a moral imperative because of their companies needed of their personal experiences and values† (Broysberg Connolly, 2013). Steve Reinemund was the first senior leader at PepsiCo to focus on diversity and inclusion from a perspective of changing the entire cultureRead MoreEquality Diversity Inclusion1538 Words   |  7 Pagesunderrepresented and knowing what to do about it. Taking positive action to assist individuals where this is appropriate. Diversity Diversity means to have a variety of people from all minority groups represented in the community or setting. It is understanding and valuing the differences between the individuals and groups in the community and respecting their needs. Therefore, diversity is the ability to recognize how to relate to those who are different groups from our own. These include race, classRead MoreBenefits Of Diversity And Inclusion1657 Words   |  7 PagesIntroduction Diversity and inclusion are hot topics in today’s business world. While treating individuals fairly and equally is a social imperative, it is also extremely important to the success of a business. With the changing demographics of society and its affect on the American workforce, organizations must truly embrace diversity and inclusion. â€Å"For companies to succeed in the global marketplace, they must make the most of the full range of their people. Companies must attract and retain theRead MoreDiversity and Inclusion Paper1085 Words   |  5 PagesThinking About Diversity and Inclusion Paper SOC/315 December 15, 2010 Professor Dr. Lorthridge Introduction This paper will discuss and focus on the four dimensions of diversity: ethnicity, gender, differences in skills, abilities and personality traits and how they have an impact in my workplace. To be able to go further in this paper one should understand the definition of diversity. Diversity is a variety between people associated to factors such as culture, employment status, educationRead MoreImportance Of Diversity And Inclusion1793 Words   |  8 Pages Diversity and Inclusion Diversity and Inclusion is a field within Human Resources that focuses on ensuring the cultural sensitivity as well as the cultural inclusion within an organization (RBC, n.d.). More specifically, diversity is both including and respecting differences of ethnicity, gender, age, national origin, disability, sexual orientation, education, and religion (RBC, n.d.). As where Inclusion is the state of being valued, respected, and supported regardless of what diverse background

Tuesday, May 12, 2020

Nautical Petroleum Plc Market And Financial Performance Finance Essay - Free Essay Example

Sample details Pages: 10 Words: 3041 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? This report evaluates the Nautical Petroleums market and financial performance for the past two years by studying the annual reports of 2009 and 2010. The report also highlights the economic factors that the group faces to illustrate its current risks and growth. This will include the social and technological concerns related to the industry. Don’t waste time! Our writers will create an original "Nautical Petroleum Plc Market And Financial Performance Finance Essay" essay for you Create order Furthermore, the companys overall market coverage has been briefly analyzed along with its customer profile, distribution channels and the product offerings as compared to its competitors. The report will also establish the ownership and control of the business highlighting the expertise of management. Thereafter, the financials of the company will be assessed through the examination of its profitability and returns. Finally, this report will provide an investment suggestion on basis of the asset value per share given by the company. Introduction to Nautical Petroleum PLC Nautical Petroleum plc  is an independent hydrocarbon exploration and development company listed on the London AIM. The company was listed on the Alternative Investment Market (AIM) in April 2005. A 75% interest in Nautical Petroleum AG, a subsidiary of  International Energy Group AG (IEG), was transferred into Nautical Holdings Limited. This entity participated in the Reverse Takeover (RTO) in April 2005 which created Nautical Petroleum plc as a listed entity on AIM. (History, Nautical Petroleum) Nautical Petroleum plc intends to become a significant producer of heavy oil, initially in the United Kingdom Continental Shelf (UKCS) and in Europe. Currently, the companys operations span to UK, France and Ireland and the aim is to secure further heavy oil discoveries in the UKCS and EU through acquisitions, farmins and licensing rounds. ( Marketing and Economics INDUSTRY SECTOR MARKETS CUSTOMERS Nautical Petroleum operates in the Energy sector and its core business is trading of crude oil and refined oil products. The company has established a worldwide representation in major oil trading hubs with international activity serving a clientele which includes most of the recognized participants in the global crude oil, gas and re ¬Ãƒâ€šÃ‚ ned products markets. Nautical Petroleum undertakes physical oil trades with private and state sector oil producers, oil majors, independent traders, re ¬Ãƒâ€šÃ‚ ners, power generators and other consumers. The market for these UK heavy oils remains strong, specifically from specialist refiners. This is reflected in prices achieved for Alba, Captain and Harding (Nauticals acquisitions). COMPETITORS Nautical Petroleum competes with major players in the market like British Petroleum (BP), Shell and Elf and also with the smaller but listed companies like Enterprise Oil Plc, Falkland Oil and Gas, Northern Petroleum Plc, WHAM Energy Plc, Encore Oil Plc, etc. RGFC has to compete with a number of competitors in the UK food industry, particularly in the bakery and confectionery sector. A few of the major competitors of RGFC include Greggs PLC, Abf Grain Products Ltd, Warburtons Limited, Warburtons Holdings Limited, Rank Hovis, British Bakeries, Baxters, United Biscuits (Holdings) Plc and Allied Bakeries. SOCIAL ISSUES The major social issue related to the oil and gas industry is the pollution caused due to oil spills, both for aquatic as well as land forms. Another issue that has been highlighted by a recent study about social and environmental effects on communities which are economically dependent on the oil and gas industry is social dysfunction and biological impoverishment. The research, published in Conservation Biology, revealed that over a nine year period the number of registered sex offenders in energy boomtowns was two to three times higher than towns dependent on other industries. Other symptoms of social change seen in energy boomtowns across the western United States include the use of illicit drugs, domestic violence, wildlife poaching and a general rise in crime. The research suggests that these changes occur because of the differences between the traditional rural residents and the incoming workforce. (Rise of sexual Predators in Oil Natural Gas Boomtowns, TECHNOLOGICAL ISSUES Petroleum science has evolved from rudimentary geology to elaborate supercomputer-based calculations and 3D views of the subsurface. It has taken the drilling process from a lets try over there guessing game to the precise targeting of ever smaller pockets of fields that have already produced for half a century, as well as areas that have produced nothing before. It requires state of the art technologies to extract the hydrocarbons as well as highly skilled and competent professiona ls to manage the industry. The EP industry is using cutting technology to locate hydrocarbons and optimize efficiency in production. These technologies include the use of complex reservoir modeling and simulation, nuclear magnetism, sonic and ultra-sonic technologies, magnetic resonance, advanced chemical engineering, fluid mechanics, telecommunication, process engineering etc. As easy-oil has become a thing from the past, the industry is moving towards frontier areas to increase production. Optimizing the recovery of hydrocarbons from the existing production fields (called brown fields) remains an existing challenge. Growth and Risks of the Company Nautical has exhibited strong growth prospects and is committed to progressing both Mariner and Kraken projects to field development plan (FDP) submission and adding value to the third leg of material appraisal and exploration opportunities. Notwithstanding the growth of the company, that the fact still remains that in common with all oil and gas exploration and production operations, there is uncertainty and therefore risk associated with operating parameters and costs. Whilst costs can be budgeted with a reasonable degree of confidence, operating parameters can be difficult to predict and often outside the Groups control. In addition, other risks, including industrial accidents, technical failures, labour disputes, environmental hazards, machinery breakdown, unavailability of parts, government action, war and terrorism, are all beyond the Groups control. Oil and Gas Exploration, Production Risks and Insurance There are risks inherent in the exploration and production of oil and gas. This area of business, by its nature, involves significant risks, and hazards, including environmental hazards, industrial incidents, labour disputes, fire, drought, flooding and other natural calamities. The occurrence of any of these hazards can delay or interrupt production, increase production costs and result in liability to the owner or operator of the oil and gas asset. The Group may become subject to liability for pollution or other hazards against which it has not insured or cannot insure. Market Risk The marketability of any oil or gas discovered will be affected by numerous factors beyond the control of the Group. These factors include market fluctuations, proximity and capacity of oil and gas pipelines and processing equipment and government regulations including regulations relating to taxation, royalties, allowable production, importing and exporting of oil and gas and environmental protection. Environmental Factors The operations of the Group are dependent on environmental regulations in every jurisdiction it operates in. Environmental legislation and permits are liable to develop in a way which will require more austere standards and enforcement, augmented fines and penalties for non-compliance, stricter environmental assessments of projects and an increased degree of responsibility for companies and their directors and employees. There can be no assurances that such new environmental legislation once implemented will not oblige the Group to incur significant expenses and undertake significant investments which might adversely affect the Groups business, financial condition and operational results. Licenses and Title The Groups exploration and production activities are dependent upon the grant of appropriate licenses, concessions, leases, permits and regulatory consents which may be withdrawn or made subject to limitations. The decisions to advance explorations may call for other companies participation whose inte rests and objectives may differ from those of the Group. Volatility of Oil and Gas Prices There has been a wide fluctuation in oil and gas prices and they are affected by several factors over which the Group does not hold control, including currency exchange fluctuations, world production levels, consumption patterns and global or regional political events. The collective effect of these factors is next to impossible to forecast. Consequently as a result of the above factors, price forecasting can be difficult to predict or imprecise. Currency and Exchange Rate Fluctuations Since commodity prices are conventionally denominated in the US$, majority of the income of the Group will be expected in US$ and the Group is therefore exposed to volatility in exchange rates. Contractual risks All agreements are subject to interpretation, and some agreements are not binding. There is no guarantee that the Company will be able to enforce all its rights under its agreements or a rrangements with third parties. Competition There exists aggressive competition in the petroleum industry, mainly for the discovery and acquisition of commercially viable properties. The Group will compete with other exploration and production companies, many of which possess greater financial resources in comparison to the Group, for leases and other interests plus for the retention of qualified personnel. These factors might prove to be a hindrance for the Group to lock new exploration areas or recruit and retain talent. Financing risks The furthering of the Groups properties is based on its ability to obtain finance through the farming-out of projects, public financing or supplementary means. There is no assurance that the Group will successfully be able to obtain the requisite financing. Any additional equity financing may be dilutive to Shareholders and debt financing, if available, may entail restrictions on operating activities. In case the Group is unsuccessful i n obtaining additional finance as required, it may be required to reduce the scope of its operations or anticipated expansion. Taxation Future changes to the nature and basis of taxation may impact on the net revenues and cash flows of the Group. Political Although political conditions in the countries in which the Group may operate are generally stable, changes may occur in their political, fiscal and legal systems, which might affect the ownership or operation of the Groups interests, including, inter alia, changes in exchange rates, control regulations, expropriation of oil and gas rights, changes in government and in legislative and regulatory regimes. Liquidity of the Groups Shares The market for the Groups shares may be highly volatile and subject to wide fluctuations in response to a variety of factors which could lead to losses for Shareholders. These factors include amongst others; additions or departures of key personal, litigation if any, press, newspape r and other media reports and the results of appraisal and exploration activity. Legal Systems Some of the countries in which the Group may in the future, operate, have legal systems which are not as developed as those in established economies. In such cases, this can result in uncertainties, ambiguities, inconsistencies and anomalies, and/or difficulties in obtaining redress through the local courts, and ultimately in investment risks that do not exist in more developed legal systems. Ownership and Management The board of Nautical Petroleum Plc is led by Chairman John Conlin who is also a Non-Executive Director and joined the board in June 2009. Out of 63,408,291 ordinary shares (as on 30 June 2010), J Conlin holds nil (but holds 60,000 share options). Similarly, Finance director Will Mathers and Non-Executive Director Philip Dimmock hold zero ordinary shares but possess 200,000 and 250,000 share options instead. The highest number of ordinary shares is held by Chief Executive Stephen Jenkins and Commercial Director Paul Jennings who hold 876,096 shares each (1.38 percent) apart from holding 1,125,000 and 800,000 share options respectively. The Non-Executive Director Patrick Kennedy holds 75,000 ordinary shares (0.12 percent) and 250,000 share options. Financial Performance Evaluation: Profitability, Liquidity and Gearing PROFITABILITY The cost of sales, including impairment and operating costs of extended well test equipment, was  £157,000 in 2008 which rose significantly to  £2,500,000 in 2009. Again in 2010 it dropped to a mere  £84,000. Since the revenue for the year 2008 was zero, the group incurred a gross loss of  £157,000. Because of the significant increase in the costs and only a marginal increase of  £25,000 in sales, the loss increased to  £2,475,000 in 2009. Though, in 2010 the Groups financial position improved due to increase in sales and cost reduction, thereby limiting the gross loss to  £16,000. As a result, the Groups gross profit margin has improved from  £9,900,000 in 2009 to - £23,500 in 2010. Similarly, the net profit margin has shown a remarkable improvement from - £23,548,000 in 2009 to - £3,354,000 in 2010. Return on capital employed (ROCE) shows a similar trend. Since the Group has incurred losses through the considered period, there has been negative ROCE, though there has been a decrease in the losses and ROCE has gone up to -2.8% in 2010 in comparison to -10.5% in 2009, approximately by one fifth. LIQUIDITY The current ratio of the group was 4.4:1 in 2008 which was considerably lower compared to 24.3:1 in 2008, reflecting significant decrease in the liabilities. The liabilities of the group decreased steeply at 82.63% over the period of 2008 to 2009. But in contrast, in 2010 the assets fell sharply exhibiting a decline of 36.14% because of which the current ratio dropped to 14.2:1. This trend indicates that even though the Group has been running in loss, its ability to meet its short term financial obligations is adequate enough. The liquid or acid test ratio also represented exactly the same trend in the financial period considered. This is due to the reason that the quick assets of the Group are same as the current assets since there has not been any inventory. In terms of efficiency, the group showed an improved performance over the financial years with respect to repaying of the payables. The trade creditors show a constant reduction from  £1,806,000 in 2008 to  £504,000 in 2009 to  £312,000 in 2010. Therefore, the trade payable days has reduced from 4141 days to 1337 days from 2008 to 2010 (though it significantly reduced to 73 days in 2009). Also, the trade receivable days of the Group reduced significantly from 7114 in 2009 to 2509 in 2010, illustrating the fact that fewer funds were tied up with debtors for each  £1 of sales in 2010 than in 2009. But, since the past three years (2008 to 2010) a significant amount of approximately  £470,000 has been given on debt. GEARING Nautical Petroleum Plc is lowly geared. The annual report suggests that the business has negligible debt and non-current borrowings. The Groups borrowings, in terms of accruals and amount owed to related companies, have dropped remarkably over the three years. The gearing ratio of the group tells us that the gross gearing reduced greatly from 4.36 to 0.51 during the period from 2008 to 2009. Though, in 2010 it increased to 0.99, it still remains low. This highlights the fact that the Group has just 1% borrowing, and the business is majorly financed by equity. Attractiveness of the Groups Equity Shares Settlement as of 04/02/2011, at 5:45 p.m. Nautical Pet fractionally up, achieving a modest profit of +0.37%. After a weak start to the day at 536, above the previous sessions low, we saw steady growth as trading continued and a bullish close of 547, near the session high. In the weekly comparison, Nautical Pets trend is more pronounced than the FTSE AIM 100 Ix trend line, revealing investors greater propensity to buy Nautical Pet stock compared to the index. Status and Trend Analysis Technically, Nautical Pet is in a strong uptrend with resistance in the 561.7 area, while the most immediate support is listed at 517.7. The trading outlook is positive, with the bulls likely to target the 605.7 level (green line in the chart). Risk Analysis Heres a word of caution for risk-averse traders, who should consider this a potentially risky investment given that intraday volatility is up at 8.97. Buying or selling decisions should primarily be made in an intraday context, as daily volume has fallen to 170,167, against a volume moving average of 402,945 for the last month. The earnings per share for Imperial Tobacco Group rose from 50.6 pence to 65.5 pence from 2008 to 2009, indicating the fact that the earnings available to the shareholders increased by about 30 percent. As mentioned in 2009s annual report of the company, its adjusted earnings per share have grown by 15 percent on a compound annual basis. The dividend per share also showed a remarkable hike from 62.93 pence in 2008 to 73 pence in 2009 amounting to a 17 percent increase in the value distributed amongst the shareholders. As mentioned in the Chairmans statement in the annual report of the group: Over the past ten years we have outperformed the FTSE A ll-Share Index by 286%. With dividends reinvested,  £100 invested in Imperial Tobacco ten years ago would now be worth  £517 compared to just  £134 invested in the FTSE All-Share Index. (Chairmans Statement, Annual Report 2009) Total Shareholder return over the past ten years Graph showing Imperial Tobacco Group PLCs performance against the FTSE All-Share index for the past ten years Source: Imperial Tobacco Group, Annual Report 2009 Although the dividend yield increased to 3.18 percent, the dividend cover of the business remained constant over the year at 1.1 times. The price per earnings ratio of the group was 29.75 times, which reveals the fact that the capital value of the share is quite high compared to its current level of earnings. This reflects the market confidence concerning the future of the business and that the investors are prepared to pay more in relation to the earnings stream of Imperial Tobacco Group. But this value has dropped by 30 percent over the fiscal year. Similarly, since the market price of the share has not risen significantly in comparison to the remarkable increase in the cash flow per share, the price to cash flow ratio also dropped from 11.30 pence to 5.65 pence in 2009. Overall, the sales volume of the group has fallen in Russia, Spain, Ukraine and the US due to the rise in the counterfeit cigarette market and also because smokers generally have switched from cigarettes to cheaper tobacco in the economic slowdown. The price to earnings ratio and the price to cash flow ratios have also fallen significantly. On the other hand, the company still has a good dividend yield and strong profitability from operating activities. The PE ratio also suggests that the stock might be undervalued. Hence, considering all the parameters on the whole, it is recommended for the existing shareholders to hold their investment. For those who are yet to invest, the companys prospects look good only in the long term. Appendix INVESTMENT RATIOS Note: Market price taken as on 30th November 2009 is 1886 pence. XVI Dividend per share (DPS) = Taken from Directors Report 2008 DIVIDEND PER SHARE = 62.93 p 2009 DIVIDEND PER SHARE = 73 p XVII Earnings per share (EPS) = Taken from Income Statement 2008 EARNINGS PER SHARE = 50.6 p 2009 EARNINGS PER SHARE = 65.5 p XVIII Dividend Yield = Total Dividend/Current Market Price x 100 2009 DIVIDEND YIELD = 59.93/1886 x 100 = 3.18% XIX Dividend cover = EPS/DPS 2008 DIVIDEND COVER = 50.6/45.6 = 0.804 2009 DIVIDEND COVER = 65.5/59.93 = 0.897 XX Price Earnings Ratio = Current Market Price/EPS 2009 PRICE EARNINGS RATIO = 1886/ 63.40 = 29.75 XXI Price to Cash flow = Current Market Price/Cash flow per Share 2009 PRICE TO CASH FLOW = 1886/334 = 5.65 pence

Wednesday, May 6, 2020

Supply Chain Management Final Paper - 1643 Words

Nathan Barker Christopher Parry MGMT 2163 - Supply Chain Management November 1, 2015 Supply Chain Management Final Paper Rough Draft Table of Contents Executive Summary Issues and Challenges Potential Solutions Possible Risks to these Solutions Metrics Conclusion I. Executive Summary An effective supply chain is the key to creating business value, and with expansion on the horizon. Good planning and willingness to adapt to changes are key to maximizing our results. In order to do this we have come up with a plan that will make Lady Americana mattresses a household name in our target expansion markets. In the state of Oklahoma, Lady Americana has already become a brand that has a bed in almost every home. The current systems in place are effective for todays operations, below are some challenges and recommendations to improve upon this to create an effective supply chain, that will grow with you as your business does. II. Issues and Challenges One of the first issues that I see when expanding to new markets, would be in forecasting the potential of these markets. This can involve both overestimating and underestimating the size of said markets. This can then lead to challenges in staffing, production facilities, and warehouse space. Poor evaluation of these new markets can also affect our suppliers up and downShow MoreRelatedMgt 496 Week 5 Final Paper1225 Words   |  5 PagesMGT 496 WEEK 5 FINAL PAPER To purchase this visit following link: Contact us at: SUPPORT@ACTIVITYMODE.COM MGT 496 WEEK 5 FINAL PAPER Strategic Warehouse Management, Inc. is one of the most popular warehousing businesses in the U.S. This organization is focused in the creation and management of warehouse operations. The CEO’s market development team believed that opening a warehouse in Australia is such a marvelous opportunityRead MoreSupply Chain Management : Practice, Theory, And Future Challenges Essay999 Words   |  4 Pages Supply Chain Management: Practice, Theory, and Future Challenges Name Institution â€Æ' Abstract Purpose – To analytically assess current changes in the theory and practice of supply management and through this assessment identify possible barriers, and key trends. Design approach – The paper is based on an exhaustive study of eight supply chains which included ten companies in America. Managers from at least four levels of the supply chain were interviewed, and the supply chains were outlinedRead MoreSupply Chain Risk Management Analysis1521 Words   |  7 Pages Uta Jà ¼ttner, (2005),Supply chain risk management, The International Journal of Logistics Management, Vol. 16 Iss 1 pp. 120 - 141. Supply chain risk management is an intersection of supply chain management and risk management. For this we need to understand the benefits and as well as the limitations of both the concepts. Supply chain risk is about any threat of interruption in the order of workings of the supply chain. 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Bridging the Gap Free Essays

Bridging the Gap January 28, 2014 Poetry of the 17th century is unique because it is of a metaphysical nature and it is deeper in meaning that the courtly love poetry before its time. It focuses on love, death, and loss other than death such as innocence and material possessions. The seemingly imposable things such as the afterlife and Heaven are said to be metaphysical in nature and both subjects are present in the three selected poems for this paper. We will write a custom essay sample on Bridging the Gap or any similar topic only for you Order Now Ben Jonson exhibits grief upon the loss of his first daughter and his first son in the poems â€Å"On My First Son† and â€Å"On My First Daughter†, but his grief is displayed in different tones. Anne Bradstreet exhibits grief over the loss of her home and all of her material possessions in â€Å"Here Follows Some Verses Upon the Burning of Our House July 10th, 1666†, but her grief turns into a comforting tone as she realizes her true possessions are in Heaven, not on Earth. â€Å"Thou hast a house on high erect, framed by that mighty Architect, with glory richly furnished† (Ferguson, Salter, Stallworthy, 2005, p. 467). The three chosen poems deal with loss and grief. The poet of each poem expresses religious beliefs in Heaven and the afterlife and a comforting tone is exhibited for the reader to find comfort in the possibility that a better life exists beyond life on Earth. Ben Jonson was a poet born in 1572 and died in 1637. His work is often considered classical dramatics. His poem â€Å"On My First Son† expresses sorrow for the death of his first son. The poem is an elegy which means the poem is a serious reflection and a mournful poem about the dead. This is a twelve line poem with six pairs of rhyming couplets. Line five is the most emotional line. â€Å"O could I lose all father now! † (Ferguson et al. p. 323). Jonson tries to see death as an escape from the world. There is a calmer tone later in the poem as the poet is speaking in a more positive mood, seeing his son as his finest creation. The poem is written from the 17th century England and childhood illnesses were often fatal. Hospitals, vaccinations against diseases, ant ibiotics and treatments were unknown during that time. Many children did not live very long. When they died, parents reacted to their death in a different manner than people in current society react to the death of a child. The poem is delivered in rhyming lines called couplets and it is addressed to the dead son. Metaphor is present when Jonson refers to his son as being lent to him. For seven years. â€Å"Seven years thou wert lent to me, and I thee pay exacted by thy fate, on the just day† (Ferguson et al. , p. 323). Jonson believes that all life is a gift from God, and now God is taking back his child at a young and tender age of seven. As Jonson grieves over his son, he also shows the reader how death is something to be envied. Perhaps death is something to look forward to. This feeling is explained in lines seven and eight when Jonson states â€Å"To have so soon scoped world’s and flesh’s rage, and, if no other miser, yet age† (Ferguson et al. p. 323). An escape from the turmoil that one encounters throughout life is escaped by death. Jonson also vows to not become too attached or to love someone too much in the future so he will not feel so much pain again. Jonson also wrote â€Å"On My First Daughter† which is an elegy about his first daughter who di ed at the age of six months old. In this poem, Jonson believes nothing lasts forever and death is inevitable. Written in the 17th century, childhood death was not uncommon. Jonson delivers sadness as well as a feeling of comfort and belief that the poet’s baby girl is in Heaven. A hidden message in this poem is that death is not the final destination. The religious thoughts throughout the poem offer peace and comfort about death and the afterlife. â€Å"Yet all Heaven’s gifts being Heaven’s due† (Ferguson et al. , p. 323) insinuates that nothing lasts forever and death is inevitable. Jonson sees his daughter’s death as if she belongs to God and now God has taken her back. This twelve line poem contains six pairs of rhyming couplets. Lines three and four demonstrate a rationalization of the death as well as the ability for Jonson to overcome his emotions more than a woman could. Yet all heaven’s gifts being Heaven’s due, it makes the father less to rue† (Ferguson et al. , p. 323). He also finds comfort in knowing he lost his daughter to death with her innocence intact. Because she died with her innocence, there is a special honor of believing she in honored in Heaven and Jonson finds comfort in the sad event of his daughter’s death. Jonson uses rationalism in his poems as he reasons with the death of his children. â€Å"On My First Daughter† has a different attitude and delivery from the attitude and delivery regarding his son’s death in â€Å"On My First Son†. He appears to accept his daughter’s death with less grief than his acceptance of his son’s death. The length of time he had with his daughter and his son could also determine the tone he took in each poem. He could have bonded with his 7-year-old son as where he did not bond with the 6-month-old daughter. He does however find comfort in believing both children are in Heaven and free from pain. He believes Heaven is a better place than living on Earth. Anne Bradstreet, born in 1612 and died in 1672, is the 17th century Puritan author of â€Å"Here Follows Some Verses Upon the Burning of Our House July 10th, 1616†. Her subjects within her poems were home, life, relationships, living, sorrow, and grief. Her faith and values are apparent throughout the poem. The rhyming of every two lines allows the reader to process the words before going to the next two lines. The nine six-line stanzas are written in plain style. The Puritan in Bradstreet preferred a plain style of writing that rarely included figurative language. She stressed simplicity, clarity of expression, the use of everyday words, and the implied metaphor even though most of her images and words are literal throughout her poem. The context of Bradstreet’s poem is the 17th century Puritan colonies in North America. The theme of the poem is that materials possessions are worthless and the only thing that is worthy is going to Heaven in the afterlife. The reader takes a journey through the descriptions of Bradstreet’s possessions before her true feelings are revealed regarding loss, material possessions, and a person’s salvation in Heaven. There are obvious sentence inversions to accommodate the demands of rhyme. This is present in the first line of the poem â€Å"In silent night when rest I took for sorrow near I did not look† (Ferguson et al. p. 466). The speaker becomes aware of her house burning down and she informs her readers about the material objects in a material world. Pain and loss are explored while memories and fantasies about her home are revealed. â€Å"No pleasant tale shall e’er be told, nor things recounted done of old† (Ferguson et al. , p. 467). The statement reveals a woman mourning the material loss while also mourning the lost years of an imagined future in her house. The turning point in the poem occurs when the speaker is finished grieving over the ruins of her home. She begins to realize that she should focus on her home in Heaven and the beautiful afterlife she will have rather than her home on Earth. The last two lines of the poem express to the reader how the speaker truly feels. â€Å"My world no longer let me love, my hope and treasure lies above† (Ferguson et al. , p. 467). Bradstreet, like Jonson, finds comfort in believing in the afterlife and having faith that Heaven is where good and Holy people will spend eternity. Heaven, in both author’s beliefs, is a better place than living on Earth. The gift of Heaven through good works was a common belief during the 17th century. Jonson and Bradstreet both suffered a great loss. Jonson lost two children to death while Bradstreet lost her home and all of her possessions to a fire. They both grieved over their loss but in a different way. The end of each poem confirms the author’s religious beliefs that Heaven and the afterlife are better than life here on Earth. References Ferguson, M. , Salter, M. J. , Stallworthy, J. (Eds. ). (2005). The Norton anthology of poetry (5th ed. ). New York, NY: W. W. Norton Company. How to cite Bridging the Gap, Papers

Jeffersonian Republicans Essay Example For Students

Jeffersonian Republicans Essay (1) Some English observers may have viewed Jeffersonian Republicans as hypocritical for several reasons. Jefferson ran for the presidency in order to achieve specific goals such as, the reduction of the size and cost of the federal government, the repeal of Federalist legislation, and to maintain international peace. Jefferson was successful for some time in reducing the size and cost of the federal government. He closed several American embassies in Europe. He cut military spending by reducing the size of the U.S. Army by 50 percent and retiring a majority of the navys warships. However, despite all these cut expenses, Jefferson found it suitable to accommodate the Louisiana Purchase. As the United States increased its land territory westward, the Jeffersonian democracy continued and sought to remove Native Americans from the path of the white mans progress. Indians were often murdered even though Jeffersonians disclaimed any intention to destroy Indians. Jefferson later increased f ederal power to enforce the Embargo Act of 1807. His recommendation for an embargo of American goods failed to win foreign respect for American neutrality during the French Revolution. Jefferson nearly led the country to the brink of war. The Embargo policy succeeded only in depressing the economy and angering northern merchants and was later repealed in 1809. Jefferson also signed another bill in 1807 for a law that prohibited the importation of slaves into the United States. Poor enforcement by America resulted in illegal operations of slave smugglers. Southerners did not cooperate, and for many years African slaves continued to poor into southern ports. It is easy to conclude that the members of Jeffersonian democracy declared their passion for liberty and equality, but in practice, they lived in a society whose members accepted slavery and sought to remove Native Americans out of the white mans path. While some Americans praised Jeffersons pragmatism, others felt betrayed. (2) It is clear that progress had been achieved between 1741 and 1791 regarding the murder of slaves. From the reading, we can see that slaves were recognized as somewhat equal to a free white man. It is stated a man should receive the same punishment for murdering a slave as he would for murder of a free white man. However, the nature of punishment for the murder in State v. Boon cannot be decided. The Law of 1791 was insufficient because the question remained What is the proper punishment for the murder of a slave? Some believed slaves had no rights and our constitution was not made for them while others saw them as equal men and women. (3) From the earliest days of independence, a tension between mechanization and handcraft marked the American quest for technological advance. Some Americans, however, expressed grave misgivings about the new technology. As inventions such as the spinning jenny and the cotton gin promised to save time and labor some Americans refused to accept the n ew methods of production. Tradition and disbelief was the reason for such behavior. Many people insisted to practice methods they were taught by their parents and were afraid to modernize their lifestyle. Today we see the same thing everyday. This computer Im writing on, for example. Who wouldve ever thought a machine would allow us to type by the push of a button and then print in seconds. When computers and the internet were first being introduced many people didnt know what to think. Some people were eager to purchase one and explore the possibilities while others may have failed to believe such technology was possible. We still dont even know where computers will take us. Today theyre used in cars, space exploration, TV, and music production. And today like the 1700s, we will continue to be faced with new forms of technology everyday and some people will adapt and grow with it while others stick to the traditional methods they were taught by previous generations. .ub9aa137de053587690d2607344e35a8c , .ub9aa137de053587690d2607344e35a8c .postImageUrl , .ub9aa137de053587690d2607344e35a8c .centered-text-area { min-height: 80px; position: relative; } .ub9aa137de053587690d2607344e35a8c , .ub9aa137de053587690d2607344e35a8c:hover , .ub9aa137de053587690d2607344e35a8c:visited , .ub9aa137de053587690d2607344e35a8c:active { border:0!important; } .ub9aa137de053587690d2607344e35a8c .clearfix:after { content: ""; display: table; clear: both; } .ub9aa137de053587690d2607344e35a8c { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ub9aa137de053587690d2607344e35a8c:active , .ub9aa137de053587690d2607344e35a8c:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ub9aa137de053587690d2607344e35a8c .centered-text-area { width: 100%; position: relative ; } .ub9aa137de053587690d2607344e35a8c .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ub9aa137de053587690d2607344e35a8c .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ub9aa137de053587690d2607344e35a8c .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(; position: absolute; right: 0; top: 0; } .ub9aa137de053587690d2607344e35a8c:hover .ctaButton { background-color: #34495E!important; } .ub9aa137de053587690d2607344e35a8c .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ub9aa137de053587690d2607344e35a8c .ub9aa137de053587690d2607344e35a8c-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ub9aa137de053587690d2607344e35a8c:after { content: ""; display: block; clear: both; } READ: Free Media Violence: Violence in Primetime M Essay(4) Chief Justice John Marshall did not want to jeopardize the independence of the Supreme Court over the minor issue of Marbury v. Madison. In his decision of February 1803, Marshall scolded the secretary of state for withholding Marburys commission. Marshall stated it clearly that the Supreme Court did not have the jurisdiction to handle such