Pros and Cons of Fast Food Essay

The fast food industry has come a long way from its humble beginnings nearly a century ago. The first restaurant considered a fast food restaurant was called White Castle. White Castle was opened in 1921 in Wichita, Kansas by Billy Ingram. He opened it so that he could sell his slider-style burgers at a price of 5 cents per patty. White castle is in business today and its belief of selling cheap affordable food for all became the foundation for all the fast food places that were founded soon after. Places that include, Kentucky Fried Chicken in 1930, McDonalds in 1940, In-n-Out in 1948, Burger King in 1954, and Wendy’s in 1969 along with others became the well known cheap eateries that we have here today. All this fast food although cheap, they have clearly had a well documented negative effects of it as well. As more and more fast food appears and gets advertised in our lives it drives people to want to go and get some but causes the average weight of people to go up because of it and also leads to the fast food industry to make money off of it too. The fast food industry has its goods and consequences but ultimately it comes down to what position you are looking at the industry from to really identify your viewpoint. For example if you were a person looking for a job and all you could get was a job at McDonalds, you would think that the industry is good because you make money off of it. But if you were a person who has become obese as a result of eating too much fast food, you might not be a big fan of the fast food industry. There are many arguments that can be made for the fast food industry because of all the good that it provides to people. The first benefit that it has is that it provides cheap food to people since back when it first started it cost 5 cents at White Castle per burger and nowadays basically every place has a dollar menu like McDonalds or a value menu like Burger King. I’m not sure how long that the dollar menu will last with how the price of everything in the world is getting more expensive as time goes on, but I’m sure that it’ll stay at around a dollar or two so that it’ll be a lot cheaper then anything else for a long time. Another benefit of the fast food industry is that the food that it provides is quite convenient because it is so quick to make for us to be able to eat unlike restaurants so that it is a lot better for those who are on the go and need to eat very quickly at the place or even order through the drive-thrus available at most if not all fast food places if they want to save even more time to eat in the car. Another benefit of the fast food industry that some people may overlook is the employment opportunities it creates for people. According to howstuffworks. com, as of today there are about 2. 4 million workers that work in the fast food industry which his quite a large number. These jobs, although small, provide a steady source for those who work there to support their families, and I’m not too sure that all of the people employed within the fast food industry could find other jobs. A last minor benefit of the fast food industry is how they are adapting because of all the criticism they receive about fast food being unhealthy, places like McDonalds started serving things like fruits, salads and milk to stop a bit of the negative opinions. The main argument against the fast food industry is the health issues that result from eating the fast food. All the fast food is and has been for a while assembly line made. We don’t always know what the fast food is made of; it could be filled with random meats that we might not quite like if we ever find out. Fast food is usually higher in things like fat, oil, calories and sugar. All the nutrients get fried out of the food and eating a lot will result in many problems, like obesity, heart disease, high blood pressure and joint problems. According to Buzzle, people who live within walking distance of a fast food restaurant are 13% more likely of suffering a stroke then those who don’t. According to Ehow. com 33% of Americans are obese and a lot of it stems from the doubling of fast food restaurants since 1970. Simply put, if you eat a lot of fast food bad things will likely happen to you. Fast food also has a negative effect on our environment as well because the factory produced fast food is said to have a big impact on our environment causing a lot of damage and a lot of people consider it a major contributor to global warming. And according to EHow, they quote the EatingWell Magazine that worldwide meat production is said to emit more greenhouse gases then all the transportation and industrial processes combined. Another argument against the fast food industry would be that fast food industries are also being considered as a factor for making families spend less time together because people just want to eat quick and leave thus reducing the amount of family time that people get together. All in all just like everything else in the world, the fast food industry has its pros and cons. The pros of it would be that the food is cheap, the food is convenient to get and eat, and that it provides a lot of jobs for people. The cons would be that it’s bad for your health to eat, its bad for the environment to make and may likely decrease the amount of family time that families can get. I believe that these really balance each other out, but it really depends on the point of view of the individual as to whether they like or dislike the fast food industry. In the end opinions may differ, but it’s really up to you to decide. Reference Page: 1. Bose, D. (2012, March 9). Advantages and Disadvantages of Fast Food. Buzzle. Retrieved September 18, 2013, from http://www. buzzle. com/articles/advantages-and-disadvantages-of-fast-food.html 2. Maire, L. (n. d. ). Pros & Cons of Fast Foods | eHow. eHow | How to Videos, Articles & More – Discover the expert in you.. Retrieved September 18, 2013, from http://www. ehow. com/info_8006832_fast-foods-pros-cons. html 3. Tannebaum, K. (n. d. ). Fast Food History – Original Fast Food Locations – Delish. com. Recipes, Party Food, Cooking Guides, Dinner Ideas, and Grocery Coupons – Delish. com. Retrieved September 18, 2013, from http://www. delish. com/food-fun/fast-food-history#slide-3 4. Wilson, T. V. (n. d. ). HowStuffWorks â€Å"The History of Fast Food†. HowStuffWorks â€Å"Science†.

Fear of Failure in Athletes

Fear of failure is the motive to avoid failure in achievement situations. It is not difficult to imagine a Division I college basketball athlete at the foul line, with no time left on the clock and a tied score. Is it the fear of failure or the achievement of success that determines whether the athlete will make the shot? Athletes of all levels and abilities fear failure, because of different experiences and developments. The fear of failure can be developed for a number of reasons and how the athlete copes with failure determines their success.A multidimensional, hierarchal model of fear of failure was created by David Conroy to attempt to analyze the different consequences of failing that lead to the fear of failure. Fear of failure can be represented in a hierarchal structure with five lower order factors and a single higher order factor, representing a general fear of failure. The five lower order fears of failing include fears of experiencing shame and embarrassment, fears of de valuing one’s self estimate, fears of having an uncertain future, fears of important others losing interest, and fears of upsetting important others (Conroy 2004).These fears show similar patterns with measures of self-talk, achievement goals, and contextual motivation. To investigate whether the hierarchal model was similar to the previous mentioned measures Conroy conducted a study between two different groups of athletes. Conroy chose 438 students from a large university that were engaged in recreational physical activities to complete the Performance Failure Appraisal Inventory. He also chose 71 female members of a Division I track team to complete the Performance Failure Appraisal Inventory, Achievement Goal Questionnaire for Sport, and the Sport Motivation Scale.Conroy found that all lower order fear of failure scores exhibited the same pattern of correlations with scores for self-talk while failing, achievement goals, and contextual motivation. Conroy learned that when the individuals thought they were going to fail, they reacted in a manner that resembled the original consequences they fear. The findings of this study suggest that different forms of fear of failure vary in their maladaptiveness. Fears are generally accepted as a standard during childhood and are considered an adaptive emotional reaction to threat.Therefore, it is acceptable to assume that fear of failure is developed during an athletes childhood. Three factors have been associated with the development of children’s fear of failure, parent-child communication and interaction, family climate, and parental high expectations and demands (Sagar 2009). To learn whether young athletes’ fear of failure comes from their parents Sagar conducted interviews on three families of young elite athletes. The athletes were 13 to 14 years old and competing at national or international levels.The interviews and observations were conducted with one family at a time during a three to fo ur week period. The results helped to better understand how the fear of failure was conveyed between parents and athletes. Sagar’s findings revealed failure was conveyed through parental punitive behavior, parental controlling behavior, and parental high expectations. The most common fears of failure reported were fears of others’ negative judgment, of not attaining aspirations, and of non-selection to future competitions.Sagar proved that parental view of failure influences the way young athletes view and interpret fear of failure. Sagar decided to further her research and initiate a study that would explain whether educational programs could help the parent-child relationships, thereby, helping to reduce the athletes’ fear of failure. Sagar comprised two separate programs that taught parents about the fear of failure and their importance in the development of their child’s fear of failure.A questionnaire administered after the program showed that the pa rents reduced their punitive behaviors and adopted more favorable ways of reacting to their child’s failures. The programs helped the parents to improve the condition of their interaction with their children and reduce the children’s levels of fear of failure. The cognitive-behavioral techniques used were proved helpful and could be implemented to other athletes to help reduce the children’s levels of fear of failure. One of the ongoing debates within the research is whether athletes fear failure or the consequences of failure.It is obvious that athletes interpret winning as a standard for success and losing as a standard for failing, but failure can be interpreted by the athlete’s perception of failure. Sagar conducted a study to distinguish what specifically athletes fear about failure. She interviewed nine British elite athletes aged 14-17 years old. Sagar asked questions concerning the athletes’ perceptions of consequences of failure. Examples of questions included, â€Å"tell me how you behaved after that failure† and â€Å"describe how you felt after that failure. The athletes described the consequences of failure as diminished perception of self, no sense of achievement, emotional cost of failure, letting down significant others, negative social evaluation, lose motivation and drop out, tangible losses, have an uncertain future, having reoccurring thoughts of failure, and intangible losses (Sagar 2007). The consequences that were perceived by all nine athletes were diminished perception of self, no sense of achievement, and emotional cost of failure. The athletes described consequences of failure that they disliked and wanted to avoid and deemed them as threats that they anticipated and feared.Multiple athletes reported a loss of motivation after failure, which in turn means failure could prevent athletes from reaching their potential. Furthermore, it is logical to assume that fear of failure can potentially by harmful to athletes’ performances, as fear of failure itself might be a threat to achieving their desired goal. Effective coping responses to fear of failure are exceptionally important in athletes. Athletes who do not posses effective coping skills to deal with situations that involve failure and are likely to experience negative effects such as, poor performance or the possibility of dropping out of the sport (Sagar 2009).Sagar created an experiment to examine the effects of fear of failure on athletes and how the athletes coped with the effects that fear of failure induced before competition. Sagar interviewed nine British athletes aged 14-17 years old that were competing at the national level and had experience competing at the international level. The interview allowed each athlete to individually relate to his or her own experiences in a free and open manner. The athletes were asked questions aimed to determine their perceptions of failure in sport, how their fears aff ected them, and how they coped with their fears.All of the athletes perceived failure as outcome oriented, such as losing, not winning, or getting beaten. The athletes described their coping strategies as mental disengagement, try not to let fear of failure affect them, become quiet and seek isolation, not talking about fear of failure, humor, chilling out, positive self-talk, positive reinterpretation, lowering goals, seeking emotional social support, increasing effort to prevent failure, and confronting their fears. All of the athletes that were interviewed identified with mental disengagement.Although, not all of the strategies identified are effective responses to the fear of failure. For example, increasing effort to prevent failure included increased training by athletes. Increased training can lead to overtraining, a possible source of burnout, which could accidentally lead to athletes’ withdrawal of the sport. Despite the fact that some of the athletes viewed increase d training as a positive outcome of fear of failure, increased training may not be an effective response to fear of failure. Therefore, athletes engaged in both effective and ineffective coping strategies to deal with the effects of failure before competition.Individuals high in fear of failure utilize self-regulatory strategies that can be harmful to their athletic performance, well being, and interpersonal behavior (Sagar 2009). Therefore, Sagar created a study to investigate whether fear of failure predicts antisocial behavior in the university and sport contexts, and whether sex compromises this prediction. Sagar interviewed 176 male students and 155 female students from 2 British universities, with an average age of 20. 11 years. The athletes had been competing for their schools for an average of 1. 80 years.Sagar used three different analyses to measure fear of failure antisocial behavior in sport, and antisocial behavior in university. The study showed, on average, antisocial university behavior occurred rarely for males and never to rarely for females, whereas antisocial behavior in sport occurred rarely to sometimes for males and rarely for females. The strongest fear reported for both sexes was experiencing shame and embarrassment. The weakest fear reported by males was the fear of devaluing one’s self estimate and for females the weakest fear reported was important others losing interest.Further analysis of fear of failure revealed that several significant differences occurred between male and females, but there was not a significant difference between sexes involving antisocial behavior. The study shows that fear of failure may contribute to more frequent student engagement in antisocial behavior in the university and sport contexts. The fact that males are more competitive and have a greater desire to win could explain the sex differences within the fear of failure. Thus, this study suggests that fear of failure might increase the frequency of antisocial behavior.The tendency to approach success is a function of the person’s motive to approach success as well as the situational factors (Gill 2008). Most athletes that participate in sports do so, because they want to achieve something. Although, to be able to achieve something, you must get past a fear of failure. Researching aspects of motivations regarding orientations and achievement can further understand how an athlete deals with fear of failure. In general, someone that is task oriented, rather than outcome oriented will have less fears of failure (Weinberg & Gould 2007).Focusing on personal performance can lead to greater control, more motivation, and less fear of failure. A task-oriented person has high perceptions of their own competence, so it is easier for them to feel good about themselves and not worry about failure. Those who are outcome oriented have lower perceptions of their competence. Therefore, they are more likely to give less effort to prot ect their self worth. Martin and Marsh (2003) concluded that fear of failure may be viewed as a friend or a foe, â€Å"a friend of sorts, but not a very good one†¦ [or as] a foe, but with some self-protective advantages. Research surrounding all aspects is still not extensive enough to draw strong conclusions about how fear or failure develops or how to treat fear of failure. Although, ignoring fear of failure and the problems associated with fear of failure could have negative consequences for individuals in achievement settings. Researchers should be encouraged to continue studying the coping behaviors of athletes in various age groups and investigate how people who play important roles in the lives and in the development of young elite athletes contribute to their development of fear of failure.Further research will inform prevention, assessment, diagnosis, and possibly the treatment of fear of failure in sports. References Conroy, D. E. , (2004). The unique psychological m eanings of multidimensional fears of failing. Journal of Clinical Sport & Exercise Psychology, 26, 484-491. Gill, D. , & Williams, L. , (2008). Motivational Orientations: Achievement and Competitiveness. Martin, A. J. , Marsh, H. W. (2003). Fear of failure: Friend of foe?. Australian Psychologist, 38, 31-38. Sagar, S. S. , Boardley, I. D. , Kavussanu, M. (2011). Fear of failure and student athletes’ interpersonal antisocial behavior in education and sport.British Journal of Educational Psychology, 81, 391-408. Sagar, S. S. , (2009). Fear of failure in youth sport: Building on the momentum of the new research. Sport & Exercise Psychological Review, 5, 5-15. Sagar, S. S. , Lavallee, D. , Spray, C. M. (2009). Coping with the effects of fear of failure: A preliminary investigation of young elite athletes. Journal of Clinical Sports Psychology, 3 73-98. Sagar, S. S. , Lavallee, D. , Spray, C. M. (2007). Why young athletes fear failure: Consequences of failure. Journal of Sports Sc iences, 25, 1171-1184. Weinberg, R. , Gould, D. , (2007). Motivation.

25 Summer Programs at Stanford for High Schoolers

It’s the time of year to start planning your summer! If you have a few weeks to spare and want to try something new, consider applying to one of these 25 Stanford-based summer programs just for high school students. You have worked all year to earn good grades and make the most out of high school. With summer around the corner, it can be tempting to kick back. While some rest is probably overdue, so is some exploring. Here are three reasons we think dedicating a few weeks to a program will give you the summer of your dreams. Meet peers with similar interests and drive. Some of the best and brightest students from around the world gather at Stanford each summer to learn from world-class faculty––and each other. Use this time as an opportunity to swap stories, share study tips, and dream together. Get ideas for how to pursue your passion . Students aiming to attend top tier colleges and universities will need a lot more than participating in a summer program to make their application stand out. That said, taking captivating seminars and going on mind-blowing expeditions offers a great starting point from which to continue exploring your passion after the program ends. Learn what life on campus is like. If you have dreamed of going to Stanford, an on-campus residency program gives you the opportunity to test the waters. Over several weeks, you will experience the daily rhythms of Palo Alto and learn whether this Golden State university is right for you. Spend seven weeks working in an active lab conducting research. Keep in mind you must have at least a 3.5 weighted GPA, with all As and Bs in science and math classes. Additionally, you must live within 25 miles of Stanford’s campus and come from a low-income family. You must also be the first person in your family who plans to graduate from college. Please ask a teacher to nominate you using this form . Ever wonder what makes chimps smaller than gorillas? Â  You can delve into questions about body size evolution during this 8-week program. Note: You must be from the San Francisco Bay area to participate.

Computer game Term Paper Example | Topics and Well Written Essays - 5000 words

Computer game - Term Paper Example Computers have become inevitable for human beings since they assist man in almost all aspects of his daily routine and his life if previewed overall. Whether it is work or leisure computers have been part of man's every unit time of life he spends since the last decade. While on one hand computers are mainly used to lessen man's workload and to increase perfection and accuracy in tasks, on the other hand they are a source of pleasure and entertainment. The latter is provided by social networking, listening to music, watching videos and playing computer games, just to mention a few. This research paper aims to address the concept and effectiveness of computer games. It further aims to discuss the ethical implications associated with computer games and also the environmental, economical, societal, global and cultural considerations associated with computer games. BACKGROUND The advent of computer games started with small scale simple mathematical games. As the advent of computers thems elves was a fascinations, the computer games also enjoyed that fame. The transition from paper based games to digital gaming was hailed warmly by elders and youngsters alike. The computer games became an addiction and due to their timely responses interactive user friendly interfaces it was hard to make people revert to ordinary and contemporary gaming methods. Computer Games "(Electronics & Computer Science / Computer Science) any of various games, recorded on cassette or disc for use in a home computer, that are played by manipulating a mouse, joystick, or the keys on the keyboard of a computer in response to the graphics on the screen" (The Free Dictionary) The very first computer game was built in the year 1952 by A.S. Douglas as a part of his PhD degree thesis. The computerized animation of Tic-Tac-Toe game was the very first game to be built from where there was no turning back. Exactly two decades later the very first stand alone gaming console was built which could be bought home and played. Ralph Baer was the designer of this first commercial computer gaming venture that name of which was Odyssey. The advent of formal video game dates back to the middle of the 1990s. The popularity of video games has grown since then at a very rapid rate. These video games are, in the present times, inevitable for every household that has adolescents or youngsters in it. Majority of the youngsters prefer to play video games over any other leisure activity and rather tend to indulge in them for unlimited periods of time. Around sixty percent of the American Citizens indulge in playing video games and the average age of the majority of players is 28 years. Impacts Dr. C. Shawn Green, a renowned psychologist of University of Wisconsin, is quoted saying that, â€Å"Video games change your brain. So does learning to read, playing the piano, or navigating the streets of London, which have all been shown to change the brain's physical structure. The powerful combination of concentration and rewarding surges of neurotransmitters like dopamine strengthen neural circuits in much the same the way that exercise builds muscles.† (Hotz, â€Å"When Gaming is Good for You†) Generally the parents get frowned over their kids when it comes to respond on the issue of computer games or video games. They unknowingly term these games as wastage of time and money, injurious to health, mind corroding, socially harmful and violence propagating. The analysis behind these conclusions seems

Societal Changes in Women Status 30s-70s Essay Example | Topics and Well Written Essays - 750 words

Societal Changes in Women Status 30s-70s - Essay Example These changes as represented by the pendulum have political and economic influences being the major cause affecting these changes. However, individual women have impressively changed the concept of the woman as gender perception as seen by Maya Angelou who during the world second war aspired to be a street car conductor and ended up being the first African American street car conductor thanks to her relentless applications (Collins, 2003). In his intriguing and captivating book, Collins gives examples of heroines like Hannah Dustan who in 1697 escaped from her captors by slitting them and returned to her home to a jubilated welcome. The book gives a wide range of inspiring examples of women thus the other meaning of the pendulum swinging wide. There are quite a number of historical facts that paved way to the behavior of women in the 20th century particularly between the 1930s to the 1970s. For example, in 1637 the law had to be changed after Ann fowler was sentenced to 20 lashes when she verbally abused a county justice by the name of Adam Thorowgood in Virginia (Walsh, 2010). It was then stated that husbands were no longer liable for damages caused by their wives. In Pennsylvania, single impoverished women were forced to wear bras with the letter P which stood for pauper whenever they appeared in public. In world war two, there were over 1000 women pilots, but they could only fly planes that were grounded. This meant that they could not leave the ground, so they only towed the planes for either takeoff or landing for inexperienced male pilots. Despite this, over 80% of the reading public was female at the time. This had a positive impact on American scholarship history, for women were inevitably placed on the same class as the men. The book celebrates women like the Grimke sisters, Susan B. Anthony, Sojourner Truth, Jane Addams, and Dolores Huerta who have arguably influenced the behavior of women in the 1920s and beyond. It is reported that the American Government and cultural leaders sent mixed messages to women regarding their social status, work, education and family through domestic policies gender roles and design of their positions in society. The American government having been influenced by philosophical advocates under nongovernmental organizations on gender equality weakened the family by legitimizing divorce. It also had no policy that supports in any way, infertile women giving rise to promiscuity and rise of immorality. More so infertile women had a high probability of dying during pregnancy and feared to give birth leading to a lower birthrate during the 1920s, and the government still did not address this issue (Smith, 2005). The cultural leaders particularly the Catholics in the na me of ‘modernity’ reduced the number of grants for memorial masses for the dead. This in turn no longer inspired the young generation to give birth to a new generation. So population did not grow as intended, and marriage, which is the sole unit for conception was not as recognized as should have been. In his book ‘utopia against the family’ Bryce J. Christensen mentions organizations like the American home economics declaring that families have nothing to do with blood marriage legal ties or adoption, instead states that it is of two or more persons who share similar resources, responsibilities goals and virtues over a period of time. Politicians and the media have picked this mentality and spread it

Studio Photography Research Paper Example | Topics and Well Written Essays - 1000 words

Studio Photography - Research Paper Example This paper analyzes the steps or processes, which should be followed by photographers, in order to produce quality images that satisfy their clients’ desires. The process described in this article is consistent with Ray Parslow’s design process. Ray Parslow and his team design logos for companies, including other graphic works for companies and individual clients. Parslow suggests that, proper communication and understanding of the clients, is the most crucial step in studio photography (Galer 128). This always gives the photographers confidences for designing a process that will result in incredible results. The customers’ desires should not be satisfied only at the end of the design process, but it should be long-lived even after the creative process is terminated. The photographers should be capable of providing their clients with a variety of solutions, which are researched, to aid understanding of how the design process will be decided and executed to completion. After selecting a design process, the clients should constantly be involved in the process, so as to address any change that need to be made in the design process. This will give both the photographer and the client an opportunity to solve issues that were not taken into consideration at the onset of the process (Galer 128). Photographers must always ensure the final prod ucts delivered to their clients satisfy their needs, and reflects the level of their professionalism in this industry. This will also create a long term relationship between the artist and the client. The timing and service fee of the project should be agreed upon at the onset of the design process. This helps in determining the time and costs required to perform activities such as photography, editing, printing and writing. Other photographers such as Jacob of butterfield photography also agree with Parslow that the service fee and

Wall Street Journal Article Example | Topics and Well Written Essays - 1000 words

Wall Street Journal - Article Example Now a new product is making a name for itself. Nuvo, a sparkling vodka, from France has made a big splash in bars and liquor stores across the country. People are attracted to its promise of high quality. Its brand is taking off. What accounts for the new interest in artisinal spirits, and for Nuvo in particular? During the financial crisis of 2008, many luxury brands took a hit as people had less money to spend and had to scale back a lot of their spending habits. But as the recovery takes off, people are coming out of their hibernation and starting to spend time searching for new brands to try out. Nuvo has found a niche in the market and is riding that niche all the way to the bank. People want to feel good again. They want to be seen in the clubs with the latest thing. And Nuvo is that latest thing. Nuvo was originally intended to be marketed towards women, but its creators soon found that it had wide appeal and sought to market it towards both men and women. It is an artisinal l iqueur, but much of the artisinal quality is communicated through the product's packaging. A bottle of Nuvo looks very similar to a bottle of perfume. The colour too suggests that this is something you might find behind the counter at an expensive department store. The creators have taken the aesthetic quality of a perfume bottle and put a new liqueur twist on the concept. Americans seem to love it, especially young New Yorkers. A survey of a number of bar-going young women by this reporter found that Nuvo was one of the hottest drinks of the season. Sally, a 24-year-old real estate developer called Nuvo a â€Å"breath of fresh air.† She gushed when talking about the bottle's design, â€Å"I feel more like I'm in a boudoir when I see the bottle than a bar. It looks beautiful.† Others agree with her opinion. A word frequently used to describe it is â€Å"chic† (Scott). It plays up its Frenchness, which in America is a byword for sophistication and class. Nuvo has made a splash in the city. The product's website describes the drink as an â€Å"accessory† and plays up its trendiness. It boasts that it will â€Å"dazzle your taste buds† and says that it is a premium vodka infused with passion fruit nectar. The product is evocative of artisinal champagnes and capitalizes on that concept to suggest it is a luxurious product. Little is said about how it is actually made or produced. The packaging and branding do all the work in suggesting it is artisinal. The product has been featured in a number of music videos and has rapidly become a part of the cultural furniture, largely due to its distinctive bottle, which again suggest craft and care in the production process. People know what the product is because of its bright colours and unique shape. This is an important point. Some artisinal alcohol products such as bourbon have a powerful story to tell about how they are made. The bourbon must stored in particular barrels for a certain amount of years at a certain temperature. There is a real craft to the product. For Nuvo, there may be a similar process, but much more emphasis is placed on the branding and marketing aspects to suggest that it is artisinal. Even the brand-name itself suggests refinement and freshness. The word â€Å"nouveau†Ã¢â‚¬â€French for â€Å"new†Ã¢â‚¬â€has been shortened and made easier to pronounce, while still maintaining a kind of exoticism. While there is much to praise about the product, it is not for everyone. A story from last year indicates that Nuvo is so distinctive there has

Visa International Case Study Example | Topics and Well Written Essays - 750 words

Visa International - Case Study Example The Visa International is characterized by both coordination and competition; employee empowerment and decision making is fanned down to the lower level. The factors that lead to the selection of such a design was the competition that the industry was facing and thus there was a quick need to respond to the changes that were taking place. There was a need to be open and responsive to the changes occurring in the environment and let employees to be more enabling rather than being controlled. No, Chuck is not a leader since, leader is the person who influences his group and takes them along and in Chuck's situation he seems to be more of an independent player rather than working with the group collectively. Mallory is no wonder competitive and aggressive and target oriented but his attitude is harsh and bitter, and temperament is required to keep the person in his wits; so I don't think I will work for Mallory. Mallory was an achievement oriented person with less concern for relationships; his success lied in making quick and spontaneous decisions; the on spot decisions were the result of his independent thinking and least involvement of others, who would other wise have resulted in longer times in reaching a consensus which would then be too late. It is difficult to change a person's attitude and easy to teach his or her the skills; according to skills approach skills can be learned, but, the personality approach suggests that personality characteristics are innate; therefore, I will not hire Mallory instead will go for some one who is more adaptable to work and change according to the environment of the

China sweat factories pollution Essay Example | Topics and Well Written Essays - 2000 words

China sweat factories pollution - Essay Example The thesis statement of this paper is: Sweatshops in China are unethical because they are causing severe pollution and are destroying the environments surrounding the country. A sweatshop is basically a factory in the clothing industry, in which working conditions are poor and which violates the labor laws as defined by the legislature of the country. Poor working conditions may include unfair wages, child labor, lack of incentives given to the workers, perverse working hours, issues such as sexual or gender harassment, or any other kind of high degree exploitation of workers. Sweatshops even do not provide living wage to the workers, which is required to cover the basic needs of food, clothing and shelter. Workers work more than 60 hours per week. The workplace environment of sweatshops is a great stressor for workers. Harassment, intimidation, verbal abuse, and forceful work are important aspects of sweatshops. For example, workers are made to work with dangerous chemicals bare-handed. Developing or under-developed countries have the highest rate of child labor coming out of sweatshops that tend to produce a variety of products, such as clothing, shoes, toys, car gadgets, rugs, carpets, and eatables like chocolate and coffee. Sweatshops in China tend to pollute the air. There are a myriad of reasons behind this. Sweatshops discharge waste materials and toxic chemicals into the air and water. For instance, tons of dyes are discharged into water that causes various diseases. There are a number of sweatshops in China that are responsible for adverse environmental practices that are dangerous to health of workers working in the supplier plants. For example, Foxconn and Lian Jian Technology are some of the Chinese suppliers that work for Apple. These factories regularly violate China’s Law on the Prevention and Control of Occupational Diseases, according to which factories found indulged in

Coping With Nonmarital Breakups Chapter Outline Coursework

Coping With Nonmarital Breakups Chapter Outline - Coursework Example This means that studying nonmarital breakups is confirming whether there ever was a nonmarital relationship - a two sided one- in the first place! C. The value of accounts The person's oral or written narratives explaining their experiences or actions describing characters and events and inferring the meaning and motives in the course of retelling and reviewing the love stories. V. Personal-good reasons to study breakups Knowing about relationships can improve your specific experiences. For instance, breakups do have lessons and influence future expectations and plans to choose to act differently next time. VI. The breakup process This confirms the various steps and process that people undergo when relationships lead to breakups. A. Intimacy: A cost-benefit analysis Social creatures are faced with two risks, rejection and betrayal, when pursuing intimacy. Rejection can occur when the hope-for relationship never develops, cut short, or fails when the other expresses dissatisfaction. Betrayal is insidious, a threat that emerges only if intimacy succeeds-for a time. The other, having the advantage of special information, having gained our trust, turns around and turns on us, revealing our vulnerabilities, badmouthing us, teasing us. Why then do we willingly hand that very risky unknown our phone number Why do we have to take heart breaker one more time 1. The need to belong As social creature, we need each other, our presence, and the possibility of closeness. Relationships confer unique benefits on individuals. B. Phases and stages of breakup: Weiss's study of marital separation 1. Obsessive review This involves mental search for explanations, driven to some extents, "If only" and regrets. For the leaver and the leave, the end... Social creatures are faced with two risks, rejection and betrayal, when pursuing intimacy. Rejection can occur when the hope-for relationship never develops, cut short, or fails when the other expresses dissatisfaction. Betrayal is insidious, a threat that emerges only if intimacy succeeds-for a time. The other, having the advantage of special information, having gained our trust, turns around and turns on us, revealing our vulnerabilities, badmouthing us, teasing us. Why then do we willingly hand that very risky unknown our phone number Why do we have to take heart breaker one more time This involves mental search for explanations, driven to some extents, "If only" and regrets. For the leaver and the leave, the end of a relationship is traumatic and triggers a self protective review of reasons and signs which could prevent future losses. There are two types of loneliness, emotional loneliness and social loneliness. The emotional loneliness refers to the isolation, focused on missing one's intimate partner and losing the unique comforts of that relationship. Social loneliness is disorientation and excommunication one feels when one has lost one's place and marital status. Aft

The Face in the Mirror and Sticks and Stones and such-like Essay Example for Free

The Face in the Mirror and Sticks and Stones and such-like Essay Identity is presented through the contents of belonging, values and beliefs. A person’s identity constantly changes and develops in time, depending on aspects of ethnicity, self-image and connection to a person or place. It is this which â€Å"builds† the qualities of identity. Prime examples of expressing the intricate nature of identity is clearly seen through Alice Pung’s short stories â€Å"The Face in the Mirror† and â€Å"Sticks and Stones and such-like† alongside Paul Keating’s memorable eulogy speech â€Å"The Unknown Soldier†. In Pung’s short story â€Å"The Face in the Mirror†, the author explores how ethnicity illustrates how a person’s relationship in the world creates a sense of identity. The idea is seen in the quote: â€Å"For much of my childhood, my Asian-ness was pushed to a crevice in the back of my mind. My friends were white, my family was white, my world was white.† The female protagonist conveys her cultural identity, through the use of a compound word, describing her â€Å"Asian-ness† persona as being part of a white family. Pung also uses the technique of repetition, demonstrated through the word â€Å"white† coupled with the metaphor of â€Å"my world was white† to depict the fact that her whole lifestyle, revolves around â€Å"white† customs, as she neglects her original cultural origin being â€Å"made in Korea†. Through this, the audience are made to empathize for the protagonist as she is forced into neglecting her asian background. Hence, further reinforcing Pung’s concept of how ethnicity can be an aspect of identity. Another way Pung demonstrated her concept of identity is through the use of the technique accumulation, in conjunction with rhetorical question in the short stories ‘Face in the Mirror’. For example. Accumulation is found where Pung lists â€Å"a name, a place, a date and temperature.† She follows this technique with the rhetorical question â€Å"but, what did it all mean?†. Pung uses these techniques to utilize the fact that the protagonist strives to find out more on her self, which illustrates how identity can be achieved through ones ethnicity. In Pung’s short story ‘Sticks and stones and such like’, she establishes her concept of identity through the use of a series of language techniques throughout the text, one of these techniques, would be the use of a metaphor in conjunction with the use of accumulation. The author does this, to strongly utilize her concept. These techniques are found in the quote ‘All talking frantically and loudly in English, Hindi, Kannada, Konkani: Every sentence a masala of different vocabularies†. The metaphor being a ‘masala of different vocabularies’, and accumulation being the list of the different languages. The persona refers to the list of different languages as a ‘masala’, which in her culture means ‘a variety of different spices’. This is done to further reinforce the cultural gap, which conveys how the persona feels a disconnection of identity due to a different ethnicity. Therefore impacting her sense of identity. In addition to ‘Stick’s and Stones and Such-like’, the author has further demonstrated her concept of identity by the use of language techniques describing the connection to the person and their self image. These techniques used by the author are allusion and short sentences, which is demonstrated in the quote, â€Å"Sticks and Stones and Such-like, I’ve been called a lot of things†. This allusion is is an expression which alludes to a different text, â€Å"Sticks and stones may break my bones but words will never hurt me†. This technique indicates the connection between their name and personal identity, although the technique of short sentences portrays the author’s intentions of rising above other people’s perceptions of identity through one’s name. Therefore, a sense of reassurance is achieved. In the related text â€Å"Unknown Soldier† written by Paul Keating. The author uses a series of techniques in order to portray the concept of how a sense of identity can be reached through ones connection to a person or place. â€Å"He is all of them. And he is one of us†. Short sentences are being used in this text to provide an impacting atmosphere to the audience. This relates to identity placing the soldier within a group rather than being anonymous, as the title suggests. Throughout the first stanza, the composer has used repetition repeating the phrase, â€Å"we do not know† in regards to factors of family, religion and ethnicity which have been lost, showing that he was not only a soldier, but a man, creating a sense of identity. In regards to identity, it emphasis’ the several factors of shaping and changing who a person is. The idea of self-image is seen in the quote, â€Å"Out of the war came a lesson†¦It was a lesson about ordinary people, and the lesson was that they were not ordinary†. Irony is seen in this quote, contradicting itself that the soldiers which fought in War were not like everyone else, rather being perceived of having a â€Å"heroic† status in other peoples eyes. The effect of this ironic statement allows the audience to contemplate the impact an individual has on their own self-image. This shows the concept of self-understanding, as without a distinguished self-perception or image. The three texts analysed all share the themes of belonging, values and beliefs, showing that the aspects of ethnicity, relationships and self-image all aid in proving that who you see yourself as an individual can change and develop over time, establishing this through the use of various techniques.

Yoga Philosophy Essay Example for Free

Yoga Philosophy Essay Most of the time when people think about yoga they simply imagine contorting their bodies into strange and awkward positions in hopes of keeping themselves in shape. I have to admit that I was one of those people. However, I have come to understand that the art of yoga is much more complex than I had ever imagined. This form of exercise, that I thought was restricted to famous people attempting to keep there movie star physiques, is becoming an epidemic among modern society. Yoga is much more than contorting your body into strange and somewhat un-normal positions. Mind and Body explains that â€Å"Yoga is both philosophic and metaphysic conditioning. † This art is also a general name for the controls and techniques that are used to create mythically the perfect body, mind, and spirit. Along with the above definition of yoga, we must look at it as one of the six systems of Indian philosophy â€Å"Darshanus†, meaning viewpoint or vision from the root (Hewitt). Yoga differs from all other systems because it is not content on the metaphysical knowledge, but has devised and presented practical techniques that allow intellectual understanding and can be reinforced by experimental knowing. The fundamental principle of Yoga philosophy is that nothing exists beyond the mind and its consciousness. The objective of this philosophy is to dig up misconceptions about the existence of external realities from the minds of men. It believes that it is possible to reach this stage of self realization through regular practice of yogic meditative processes that bring complete withdrawal or detachment from all false sources of knowledge and exposes an inner sense of balanced calm and tranquility (Mind and Body). The sense of meditative healing and yogic philosophy works on the five states of the mind, the five modifications of the mind, and the nine impediments of the mind. To begin the philosophy exposes the five states of the mind which include; disturbed, confused, distracted, concentrated, and completely balanced. â€Å"The first three stages are causes of impediment to the mind and are considered negative. † says Hewitt. The last two stages of mind are positive and engaging to meditation. Various yogic practices are designed for achieving these two particular states of mind. The yogic philosophy also breaks down the forms of thought or modifications of the mind into fives stages. These stages include; comprehension, misunderstanding, conceptualization, deep sleep, and memory. The knowledge gained from either sensory or inner perception, inference, or verbal authority is all considered to be true knowledge according to yoga. However deep sleep, conceptualization, and memory are looked at as negative modifications to the mind in particular forms. (Mind and Body) Last are the nine impediments of the mind that define the yogic philosophy. Sickness, incompetence, doubt, delusion, fatigue, overindulgence, confusion, lack of perseverance, and regression are all results of the modifications to the mind and forms of thought. These nine conditions are the greatest causes of all sorrows, miseries and pain, which disturb the mind and result in distractions and loss of mental tranquility. Knowing all this changes my entire outlook on yoga. I understand that this art that people engage in is much more complex than simply body positions and the humming that I often associated with this practice. The philosophy of yoga encompasses all the elements of mind, body, and spirit. References Mind Body Focused. August 29, 2008 . Claire, Thomas. Yoga for Men : Postures for Healthy, Stress-free Living . Franklin Lakes: The Career Press, 2004. Hewitt, James. The Complete YOGA Book. London : Hutchison Publishing Group Limited, 1977.

Accounting Ratios for Account Manipulation

Accounting Ratios for Account Manipulation How companies manipulate their accounts using accounting ratios? Abstract The emergence of accounting scandals in the US has shaken the world over. Professionals, stakeholders, shareholders and regulatory authorities blame a multitude of factors for the proliferation of cases like Enron, Tyco, WorldCom and Xerox etc. The researcher is of the view that the rising number of bankruptcies and fraud cases in the corporate sector has been the result of weakness within the financial system and regulatory standards. In the US especially the flexibility of the financial standards has given firms the opportunities to manipulate accounts with the help of financial and accounting professionals for the benefit of top management. These individuals have knowledge of GAAP (generally accepted accounting principle) and its loopholes. They capitalize on these loopholes to the extent of crippling the economy and professional standards. The following research investigates the rationale for firms that resort to accounts manipulation through financial ratios and how it could be curbed. It identifies the measures for counteracting unethical professional behaviour by outlining the core weaknesses within the accounting standards and systems. It also compares the US standards with those of the UK to conclude that the UK is less liable to fraudulent behaviour because its authority has taken measures to strictly regulate accounting professionals, auditors and top executives to avoid engage in accounting manipulation and fraud. Table of Contents Chapter 1 Introduction Background Rationale Objectives Scope Work Map Chapter 2 Literature review Introduction Enron WorldCom Ratios Differing Accounting Standards in the UK and US Chapter 3 Research Methodology Inductive and Deductive Reasoning Qualitative and Quantitative Research Secondary and Primary Resources Research Rationale Chapter 4 Data collection and analysis Chapter 5 Conclusion and Recommendations Bibliography Appendices Background The growing number of accounting scandals with the likes of Enron, Tyco, WorldCom and Xerox etc. has raised cause for concern for stakeholders, shareholders, professional bodies and trade authorities alike. They are of the view that corporate finance has undergone transformation for the worse in the last ten years. Williams’ research (2002) indicates that accuracy of revenues and earnings help in operational decision support and formulation of corporate strategy for almost 60 percent of the firms. Others, approximately 58 percent, feel financial reporting transparency and compliance (93 percent) with external reporting requirements imperative for effective corporate and industry performance. However, the growing number of scandals related to fraudulent earnings, inflated asset values and understated liabilities have undermined this system of corporate governance (Lev 2003). Investor confidence has been shaken as each scandal reveals the weak foundation of financial information system of public companies and regulatory authority that oversees them. When Enron filed for Chapter 11 bankruptcy on December 2, 2001 and WorldCom did the same later, investors blamed their business failures on accounting manipulations. This practice is not new. In fact according to Mishra and Drtina (2004) some 200 companies in the past five years have restated their earnings as a result of accounting manipulations. CFO Magazine survey indicates chief financial officers (CFOs) are forced to misrepresent earnings or are pressured to violate generally accepted accounting principles (GAAP) to satisfy shareholders and top executive management. Accounting manipulation not only offers the chance for companies like Enron and WorldCom to increase the asset valuation but also to understate liabilities that would appreciate stock prices, hide losses and increase company valuation. The practice is not limited to the US only. In the UK accounting manipulation is also known as creative accounting. According to Amat, Blake and Dowds (1999) creative accounting refers to a process whereby accountants use their knowledge of accounting rules to manipulate the figures reported in the accounts of a business. Since the accounting process itself is flawed in the sense that it provides flexibility, and opportunities for manipulation and misstatement, financial professionals find it easy to engage in creative accounting. The practice helps in presenting increased profits, genuine economic growth and management efficiency whereas the opposite may also be true. According to Kamal Nasser (1993 qt. Amat, Blake and Dowds 1999) Creative accounting is the transformation of financial accounting figures from what they actually are to what preparers desire by taking advantage of the existing rules and/or ignoring some or all of them. The views of these authors indicate that accounting rules in Western countries are weak and offer plenty of room for manipulation. The damage resulting from accounting manipulation affects the accounting principles that the stakeholders, public and investors depend on and use to estimate, judge and predict corporate performance. The usefulness of accounting principles has regulated industries, balanced investment flow and capitalization in the past. However, Enron and the likes have proved that accounting principles (that the masses have depended on in the past) are unreliable. The scandals prove that accounting tools like financial ratio analysis or fundamental analysis for accounts estimation and prediction do not tr uly reflect the value of the investment. Artificial transactions can be used to manipulate balance sheet amount; profits can be moved from period to period; and assets can be re-arranged to depict a positive financial standing. Amat, Blake and Dowds (1999) are also of the view that companies employ creative accounting to smooth income and report a steady growth. This is achieved by manipulating accounts to depict improved profits even in weak economic conditions to harmonize the ongoing income. Investors, following accounting principles often utilize accounting ratios to judge and estimate the performance of firms, consider steady income growth as stability and judge a non-volatile stock as a good investment. Similarly Fox (1997) is of the view that accounts manipulation is for the purpose of normalizing income so that the company’s management can boost share price by reducing the levels of borrowing, lower risks and generate capital through new shares. Using the accounting rules companies often arrange financial accounts so that they would not reflect in the balance sheet, income statement or cash flow statement. The problem arises when the flexibility within the financial principles allows accountants of companies to manipulate accounts to avert investors, banks and financial institutions scrutiny. This kind of flexibility is limited in some countries while it is more pronounced in others. In the US for example the FASB (Financial Accounting Standard Board) rules that income from extended warranties may be recognized at the time of sale. Banks may not recognize this when they calculate the debt to equity ratios to allow the company to borrow through inventory. In the UK on the other hand there is less provision for using bad debts and inventory as a means to decrease liabilities and inadvertently inflate profitability. Thus, accounting manipulation undermines the moral and ethical standards that are expected of public limited companies. Decreasing apparent volatility in income, inflating debts to avoid taxes, smoothing income to create artificial opportunities for investments and manipulating accounting principles to control market mechanisms depict the weakness within the economy. It also reflects on the ethical standards and moral of the profession of accounting and auditing. Despite the knowledge and acknowledgement of this fact, professionals in the UK from a survey (Nasser 1993) indicate creative accounting is a problem that can never be resolved (91 percent). In the US creative accounting is more regular because it capitalizes on the mandate for detailed accounting rather than broad principles, which makes it even harder to detect fraud. The trend in fraud indicates that the foundation of accounting measures and ratios that firms, institutions and public use to estimate financial statements are not reliable. According to Mishra and Drtina (2004) financial statement ratios tend to focus on profitability not quality of the performance of the company. Ratios such as return on assets and return on equity are not adequate to gauge the firms ability to meet debt obligations or to measure the financial distress it is in. Similarly, ratios that accounting models use to tract shifting revenues and expenses through cash flow statement information merely asses the firms cash level based on operations, financing or investing activities. It is limited in calculating the value of the firm based on free cash flows or net income that affect cash flows. As a result, often firms tend to resort to bankruptcy declarations because of the lack of cash inflows. Furthermore, company’s stock performance is based on the performance of the stock prices but these values are risk dependent and the prices are set with the assumption that market value of the firm is efficient and the stock prices reflect information in the financial statements. However, when analysts base their decisions on ratios such as price to earnings, dividend yield and price to book ratios they are wholly dependent on information in the financial statements, which may be fraudulent (Mishra and Drtina 2004). Rationale When firms are constrained by fraud risks such as: opportunities, pressure and rationalization of unethical management, company information itself forms the basis for high risk (Hillison, Pacini and Sinason 1999). According to Cressey (1973) non-sharable financial need is responsible for the unethical practice that result in fraud such as accounts manipulation. The urgency, which forces management to pressure accountants and auditors to commit fraud, is due to the need to appropriate assets and resources to curb financial losses. In the process they undermine their professional integrity (See Appendix 1) (Hillison, Pacini and Sinason 1999). Riahi-Belkaoui and Picur (2000) in their attempt to understand fraud in the accounting environment write 59 percent of a KPMG 1998 Fraud Survey respondents believe fraud will become more prominent in the future. The reasons they cite include economic pressures, inadequate punishment for conviction, weakening social values, insufficient emphasis on prevention and detection, and criminal sophistication. Accounts manipulation is the result of favourable situations in which criminals recognize flexibility within the financial reporting system and audit failure to detect manipulation. Furthermore, when institutions gain power, privileges and position to create an environment conducive to white collar crime, members are likely to acquire earnings management knowledge that are within the framework of the accounting policies and alternatives. Abdelghany (2005) notes that earnings management help financial managers select certain target and tailor the financial results of the firm to match it. The basic premise is that management can manipulate soft numbers resulting from accrual accounting. As mentioned earlier firms engage in accounts manipulation due to several reasons some are unethical while others are due to the environment in which they operate. The approach to manipulate accounting principles to benefit from persistent high quality earnings and influence process decisions motivate firms to smooth income, inflate revenues, restate earnings and deflate liabilities. They try to meet the analysts expectations and company performance predictions (Abdelghany 2005). Other reasons include debt covenant avoidance, costs of investment, sustainable long-term performance and meeting up with bonus plan requirements etc. among others. The pressures of management performance, leadership, market failure, and future losses tend to motivate top management to conceal internal misappropriations and misstatements. The influence of these pressures on the reported statements is great as analysts depend on the information to make investment decisions, debt covenant, and professional pre diction. Abuse in the form of manipulating accounts affects not only the firm but also the industry and the economy at large. Given the above rationale the researcher is of the view that there is a great need to study accounts manipulation and its affect on industries, the public, accounting and auditing professionals, and the investment environment as a whole. Objectives The objectives of this study are as follows: To investigate how firms like Enron and WorldCom engage in accounts manipulation using financial ratios. To investigate the ethical and professional implications of financial ratios manipulation through accounting misstatements, earnings management and restatements. To study the role of the regulatory authority in contributing or deterring accounts manipulation by comparing the accounting standards in the US and UK. Scope The researcher aims to evaluate pertinent industry practice by evaluating case studies of Enron and WorldCom. The researcher shall also delve into issues of accounting principles weaknesses and the role of the authority in contributing to the current trend of accounting fraud and manipulation. Consequently, the study shall benefit professionals who are in the field, trying to find solutions for the current trend and how to curb it. Academicians might find the use of theoretical frameworks to study a current accounting dilemma interesting and contributory to future works. Moreover, the researcher expects the results of the study enumerating to both students and academicians alike who are interested in the study of accounting fraud and manipulation. However, readers might find the scope of this study limited in the sense that it will be focused on accounts manipulation particularly in the use of financial ratios. There are other methods of accounting manipulations, which will be covered briefly in the research. Overall, readers will find the findings useful and informative. Work Map The study shall be divided into the following sections: Chapter 1 introduces the topic through a brief overview of the current norms and practices in accounts manipulation. It also points out reasons why there is a need for the study with objectives for directing the topic for discussion in the following chapters. Chapter 2 is a Literature Review, which shall trace the Enron and WorldCom scandals in the light of accounts manipulation. It also reviews literature on financial ratios fraud and its effects. Lastly, it shall study the accounting standards adopted by the UK and US to compare which one is more prone to accounts manipulation. Chapter 3 shall outline the various methods considered and chosen for the development of the current study. Chapter 4 is an analysis of the data collected and evaluated from the researchers point of view based on the expertise of the scholars discussed in the Literature Review. Chapter 5 shall conclude the findings, and offers some recommendations to resolve the issues outlined in the objectives. Overview An efficient capital market is one that allows prices to shift rapidly in response to the latest information because public information is conveyed efficiently, interpreted and analyzed to make effective decisions. Disclosure therefore is an obligation imposed by law to facilitate market performance. Companies are obligated to provide information so that investors and the public can interpret information to participate in the market decisions. Professional ethics is relegated through understanding among accountants, auditors, management and executives on the premise that the market is entitled to receive full accounts and reports of companies’ performance as per regulatory authority. The form and content of the individual or consolidated accounts is regulated by the company law and by accounting standards issued to the accounting professionals and auditors. However, sometimes publicly traded company financial position becomes tradeoffs due to limited liability, losses and perf ormance pressure. Any compromise in their performance results in negative market reaction, as they are bound by standards and targets set by the public. This kind of market behaviour force companies to resort to unethical practices (Ferran 1999). Alternatively, when regulations change in response to the demand of the market, companies have to reshuffle their internal systems to comply with them. The preparation of accounts in accordance to applicable accounting standards often conflict with the companys standards and values. New accounting information requirements and standards are often viewed with apprehension as they put pressure on the statutory requirements. For example the Listing Rules of the London Stock Exchange require annual reports and accounts of companies to contain â€Å"additional information†. The changing environment therefore creates a problem for companies to align current with past performances (Ferran 1999). To gauge a companys financial standing, analysts use ratios to estimate and evaluate its performance by comparing it with the current status or against the industrys standards. Financial managers of companies are aware of the use of this tool to evaluate companys performance. Within the framework of legal accounting standards they employ planning and capital structure decisions to measure the performance of firms. Ratios such as price to earning, for example, are of particular interest to investors interested in gauging the performance of the company they want to invest in (Pike and Neale 1996). When pressured, accountants can manipulate accounts information, such as interests, liabilities, and pre-tax profits etc, to substantially inflate or deflate certain accounts according to the needs of the firms objectives for the short or long term. For example some companies might inflate earnings per share to depict higher dividend to increase the companys investment attractiveness. Others might deflate liabilities to depict low debt to equity ratio, to create opportunities for borrowing. Whichever the cause, the fact is that firms engage in accounts manipulation within the accounting principles framework. They are within their legal rights to employ such methods, which allow them to create a positive picture to investors, creditors and institutions. How far can firms employ such methods and to what extent constitutes unethical or illegal practice will be investigated in the following sections. Enron Among the recent cases of accounts manipulation is Enron. Enron products and services relate to gas and energy wholesale, as well as retail to a host of customers. The company is considered one of the most innovative with an efficient management team and a leader who is the envy of the industry. According to Mishra and Drtina (2004) Enron filed bankruptcy in 2001 when it had just revealed its strategic plans in the light of asset and non-asset expansions. The companys plan had been to expand into energy trading expertise with a host of new products and services. At the time its share had been traded at $90. From 1999 to 2001 the company underwent great changes in terms of its earnings per share from $1.27 in 1999 to $0.999 in 2000. To deflect speculation, Enron used off-balance sheet partnerships to finance and sustain its investment growth and rating (Mishra and Drtina 2004). This method is not a new practice but is employed by 27 percent of companies. Enron however used it to hide its massive debts by inflating revenue with gain from sale of assets to off-balance sheet partnerships by guaranteeing the partnerships debt with stocks. As a result Enron had to restate its earnings from time to time to reflect the reduction in shareholders’ equity due to the partnership. The stock price started to decline to less than $1 in November 2001 despite the fact that the company had been considered one of the fastest growing companies in the industry. While the book value of the assets tripled from $23.5 billion in 1997 to $65.5 billion in 2000, in actuality Enron had been deteriorating in its market capitalization (Kedia and Philippon 2005). Enron is a typical example of accounts manipulation where misreporting to show increased investment value and simulated income have created artificial resources whereas the company had been running into high level of debt s. The real cost of manipulation eventually reflects in the earnings. Earnings management has been used to boost stock prices so that managers can profit from the share trading but in effect undermine the organizations value. In theory the use of earnings management helps firms to manipulate price earning ratios to, firstly show firms potential activities, and secondly to restate the value of the firm. However, as a consequence, the earnings created theoretical growth in investment and employment depicting strong growth (Kedia and Philippon 2005; Healy and Wahlen 1999). According to the authors, Kedia and Philippon (2005), Enron used an earnings manipulation model, which has resulted real time inefficiencies, as it does not account for the fundamental value of the firms equity or account for the allocation of resources. Wamy’s (2004) investigation reveals that Enron inflated profits by nearly one billion dollars and top employees raked in millions of dollars (they should not have received) through complex and special partnerships to hide debt, inflate profits and to engage in allied unethical and heinous business practices. The companys unique business model depicts human capital as the leveraging point for its investments, instead of fixed assets. Since its people are considered physical assets, it could allocate earnings to these individuals to create higher value for the firm that owns them. Theorists blame the companys manipulated accounts as the basis for its bankruptcy in 2001. Others (Barlev and Haddad 2004; Wamy 2004) blame it on the transition within the accounting framework. Barlev and Haddad (2004) attribute the shift of accounting practices due to the inclusion of the new paradigm of fair value accounting has increased the pace of reporting in firms. The authors in their research prove that the new paradigm improved full disclosure, transparency and management efficiency mandates. However, the weak control system that governs accounts information contributed to abuse and manipulations. It has allowed Enron to sell its stakes to special purpose entities thereby minimizing reported activities. Since Enron took the position that as a result of the decrease in its ownership interest, it no longer controlled [SPEs] and was not required to consolidate [SPEs] in its balance sheet. SPEs had been acquired through bank loans and debt issuance, which resulted in high debt to equity ratio, but hidden from the investors. As business transactions at Enron grew, the company is also confronted with its inability to pay for these transactions (Dodd 2002). Further, the company has also abused the fair value framework by using hedging instruments such as changing fair value of assets and liabilities, variable cash flows and foreign currency exposure to emphasize on its valuation (Barlev and Haddad 2004) by recording inaccurate revenue and earnings growth. Enron reported prices and recognized fictitious unrealized gains to account for pretax income worth $1.41 billion for the year 2000, which is attested by its auditors as being true (Makkawi and Schick 2003). WorldCom WorldCom (now MCI) is one of the largest distance phone companies in the US to declare bankruptcy in 2004. The reason had been accounting irregularities that equal to $11 billion. According to Scharff (2005) the companys declaration had been one of the largest accounting frauds in the US history. The author writes of the perpetrator as being the organizational structure, group processes and culture, which mitigate fraud that had become an integral part of WorldComs operations. WorldComs rationale for following a corrupt course of action stems from groupthink behaviour and competitive industry environment that pressurize members of the organization to make decisions to pursue fraudulent activities (Whyte 1989). Scharff (2005) traces the development of WorldComs bankruptcy and notes that during the 1990s the company had been under strong pressure to maintain cash flows and earnings before interest. As the telecommunication industry is subjected to strict regulations, WorldCom executives resorted to fraud to allocate costs of capital as prepaid. Similarly, it also engaged in improper release of accruals so as to reduce current year expenses to increase earnings. Not only this, the company also ensured that minor revenue entries are made to increase operating earnings (Scharff 2005). The finance and accounts department had been encouraged by top management to engage in fraudulent behaviours (See Appendix 2) to cover for the invulnerable position the organization had been in. However, the most important issue had been when the company found out about loopholes in the GAAP that would support the entries the executives wanted to include. Through them, the company also managed to inflate cash flows for five quarters with the assumption that the company received cash flows from operations whereas most of its activities had been based on accruals. According to Tergesen (2002) the accounts manipulation engaged at WorldCom had been aimed at inflating consolidated cash flows to present a positive operation picture so that investors are attracted in buying its stocks to increase capitalization. Realizing that investors are risk averse, and avoid company stocks that raise cash through financings, such as debts or investment related activities such as assets, WorldCom managed to pose a positive and attractive picture through accounts manipulation. It managed to secure operations cash flows through securitizing, which is the selling of account receivables. Selling of receivables is recognized as cash collections, even though they are collected in the future. Although this practice is regular, the timing and the manner of entry makes it culpably the basis for accounts manipulation. Not only this, Tergesen also notes that WorldCom engaged in capitalizing expenses. This practice involves the capitalization of costs of assets in the bala nce sheet and writing it off as annual instalments. To compensate for the lack of cash, WorldCom also manipulated the GAAP rules of allowing cash raised through securities sales recorded in the â€Å"cash from operations† section, even though the activity is not related to cash flow. (Tergesen 2002). The motivation according to Zekany, Braun and Warder (2004) stemmed from the pressure to meet analysts and investors’ expectations. WorldCom had been closely connected with the stock market and a favourite of investors. To meet analysts’ forecast expectations, WorldCom used its public relation as guidance for meeting such expectations. These expectations are derived from earnings estimates, securities performance and market position of its stocks. WorldCom, pressured from the intensity of investment demand and analysts’ expectations, devised financial measures to meet the financial requirements. To increase the stock market value, the top executive had to engage in expansionary acquisitions, to increase revenue growth. At the same time the companys performance deteriorated along with the industry yet it had to prove that it performs above the others (Zekany, Braun and Warder 2004). The accounting department at WorldCom had become an important functional component under the directives of its executives engaged in accounts manipulation activities to boost E/R ratio. The authors explain that WorldCom adopted the line cost accruals system to compensate for the accrual revenue and the liability reported in the balance sheet. However, since the accrual system is highly risky, it is difficult to make provision for its accurate reportage. The pressure to meet up with the line cost accruals motivated executives to find creative accounting ideas to reduce and save costs. This approach would have been successful, however since the industry had been strived by deterioration, earnings could not be inflated to achieve the expected levels to portray a positive E/R ratio. E/R is basically a ratio to measure the return on business resources available to the management. It is similar to a measure of shareholder equity and management effectiveness. (Alexander 2001). Ratios Fraudulent financial reporting has given new dimensions to corporate fraud. Both external and internal auditors are striving with the legal liability to detect fraudulent financial statements, so as to save damage to their professional reputation and to prevent public dissatisfaction (Kaminski and Wetzel 2004). Previously professionals relied on the efficiency of ratios to detect expectation errors to make decision pertaining to stock prices, risks and value of stocks for future growth. Subsequent decisions are based on the credible reportage. Investors, borrowing institutions and the public, use accounting ratios to predict returns or performance. Ratios rely on earnings and book value to measure a firms value. Performance is predicted by a cross-sectional aggregate and indicators from figures in the financial statements. Investors use strategies such as fundamental ratio analysis, accruals analysis and fundamental value analysis, to account for their decisions and treatment of inve stment portfolios. However, Daniela, Hirshleifer and Teohb (2001) are of the view that these strategies are not effective predictors of future stock returns. They write: Earnings reported on firms financial statements differ from cash flows by accounting adjustments known as accruals. These are designed in principle to reflect better economic circumstanceshigh accruals predict negative long-run future returns. (Daniela, Hirshleifer and Teohb 2001) This strategy is affected by the discretionary working capital accrual and new equity. This is so because investors are fixated by earnings numbers. Consequently they tend to underestimate other accrual factors. Similarly, the authors also note that the fundamental value analysis strategy to predict future stock returns, relies on stock prices from an imputed value based on a fundamental value model (Daniela, Hirshleifer and Teohb 2001). Even in this model the discounted value of expected future residual earnings are defined in the context of normal return employed in future years. In re

Difficult People Essay -- essays research papers

Difficult People Analysis 1. In the beginning-part plot outline, Pyotr is a frustrated youth who strives to balance his financial expenditures to that of the amount of his father's low income. The effort to consume father's pension for Pyotr's schooling creates a serious doubt to the financial security of every member in household. Pyotr's father is a disappointment to the family, his anti-social behavior has subdued the family into a state of fear and panic at the harsh tone of his voice. In the middle-part plot outline, Pyotr now fantasizes about the possibility's of leaving the farm and walking the eighty miles North to Moscow. He would establish a capacity for impunity to the family's grief of a missing son. Pyotr will be inspired by a sole motivation, the relentless three day walk to Moscow. The journey will submit a stream of inevitable consequences as a cause of starvation, frostbite and fatigue, the ability to overcome this torment to the physical appearance would only better saturate the mental ability for perseverance and determination to reach the destination. The final logic of plot that must be explained at the end of the story is Pyotr's confrontation with his guilt-ridden, contemptuous father before he leaves for Moscow. The intent to reconcile father's financial loss is expressed through Pyotr's coaxing rhetoric and judgemental approach to his father's daily attitude at the table. Finally, the room is brightly lit, not by the family's ability to regroup--their affections were a bonfire now--but by a single, dazzling beam of sympathy to Pyotr, when his father says "Good-bye...the money is on the round table." 2. The main conflict of this story is a result of the family's financial status. Father's greed, low income, and Pyotr's frustration are key points to the main conflict. The conflict has plagued Pyotr most, the hallucination of abandoning his family is the main conflict in the story. 3. The nature of conflict is most likely the man vs self "setting". As oppose to a man vs man/machine/nature alternative, man striving ag... ...her's abuse. Pyotr adds depth and perception to the story, he has nothing but contempt for his father's attitude. Stagnation in a family built to destruct, Pyotr must leave the house. 10. The tone of voice is eqaully balanced between Pyotr and his father. The mother has little or nothing to say during a mealtime argument. When Pyotr's mother tells her husband "(Pyotr)... must have money for the journey" the argument sets place and very soon Pyotr's father is screaming "Take everything!...Take it all!...Strangle me!" The ability to immediately subdue the conflict by acknowledging the personal fault of sparking the financial debate goes unnoticed. 11. The dialogue delivers reality to the domestic situation. Pyotr begins "I used to be able to put up with such scenes...but now I have got out of the way of it!" Pyotr's father retorts "...Do you know what you cost me, you scoundrel? I'll turn you out!" This is the most effective scene in the story because Pyotr's father delivers the threat, his wife and daughter bear witness to the intimidation that is aroused by Pyotr's need for money.

The Rise Of Women In France Essay -- essays research papers

The Rise of Women in French Society During the Middle Ages, French society, along with the rest of Europe, revolved around the warrior class. In order to gain land and power nobles gave their services in the military and lived violent lifestyles. Treatment toward women during this period was harsh. "In a society of landed nobility dispersed fairly loosely across the country in their castles and estates, the likelihood of a preponderance of the man over the woman and thus of a more or less unconcealed male dominance, is very great." (Elias, Page 325.) Men beat their wives and typically had little respect for them. Marriage was based not on love but on increase in influence and wealth. "But often enough we hear of the other side, of a warrior, whether a king or a simple seigneur, beating his wife. It seems almost an established habit for the knight, flying into a rage, to punch his wife of the nose till blood flows." (Page 324.) However, from the fifteenth to the eighteenth centuries dramatic pol itical changes emerged throughout Europe and a high court system developed in France. Power shifted to revolve around the monarch who created palace life. "By and large it can be said that a more peaceable social life formed about the lady of the court†¦" (Page 325.) When feudalism ended, so did the glory of battle. France was in a relatively peaceful state. Thus, in order to gain favo...

Regulating the Internet :: Argumentative Persuasive Essays

Regulating the Internet Part I: What I Know The internet has been one of the most influential technological advancements of the twenty-first century. It is in millions of homes, schools, and workplaces. The internet offers not only a way of communicating with people around the world, but also a link to information, shopping, chatting, searching, and maps. This freedom to be anyone and to "go" anywhere right from the comfort of home has become a cherished item. However, there is always a down side to every up. Because of the freedom to post anything and access anything on the internet, the issue of regulation has arisen; for example, what should and should not be allowed on the internet? Who has the right to regulate this space that we cherish for its freedom? Regulation is an issue that has formulated mostly because of how easily any child can access the internet. The thought is that if adult related material is easily accessible, then our children can view it also. People want to protect their children from items such as pornography, hate speech, violence, and gambling. All of which can be reached at the click of a button. So is regulating the internet the correct way of protecting our children? We as a people of the United States are guaranteed the right of free speech under the first amendment of the bill of rights. The first amendment has always been a difficult but necessary part of American life. It allows us to say what needs to be said without the fear of prosecution. Without this law we would be unable to question our leaders and society. The ability to speak our minds is what keeps us a truly free nation. However, this means we have always had to put up with other peoples opinions no matter how false they may be. The internet follows the same pattern. We have learned not to trust everything that is written down. It is our responsibility to refute anything that is incorrect or inappropriate just as it is our responsibility to do so in real life situations. For example, we could no more shut up a person who believes in white supremacy by arresting them for their beliefs then we could block them from the free space of the internet. We can not punish someone for their b eliefs even if those beliefs go against everything we know to be true.

Fool Chapter 12

TWELVE A KING'S ROAD Having set the course of events in motion, I wonder now if my training to be a nun, and my polished skills at telling jokes, juggling, and singing songs fully qualify me to start a war. I have so often been the instrument of the whims of others, not even a pawn at court, merely an accoutrement to the king or his daughters. An amusing ornament. A tiny reminder of conscience and humanity, tempered with enough humor so it can be dismissed, laughed off, ignored. Perhaps there is a reason that there is no fool piece on the chessboard. What action, a fool? What strategy, a fool? What use, a fool? Ah, but a fool resides in a deck of cards, a joker, sometimes two. Of no worth, of course. No real purpose. The appearance of a trump, but none of the power. Simply an instrument of chance. Only a dealer may give value to the joker. Make him wild, make him trump. Is the dealer Fate? God? The king? A ghost? Witches? The anchoress spoke of the cards in the tarot, forbidden and pagan as they were. We had no cards, but she would describe them for me, and I drew their images on the stones of the antechamber in charcoal. â€Å"The fool's number is zero,† she said, â€Å"but that's because he represents the infinite possibility of all things. He may become anything. See, he carries all of his possessions in a bundle on his back. He is ready for anything, to go anywhere, to become whatever he needs to be. Don't count out the fool, Pocket, simply because his number is zero.† Did she know where I was heading, or do her words only have meaning to me now, as I, the zero, the nothing, seek to move nations? War? I couldn't see the appeal. Drunk, and dire of mood one night, Lear mused of war when I suggested that what he needed to cast off his dark aspect was a good wenching. â€Å"Oh, Pocket, I am too old, and the joy of a fuck withers with my limbs. Only a good killing can still boil lust in my blood. And one will not do, either. Kill me a hundred, a thousand, ten thousand on my command – rivers of blood running through the fields – that's what pumps fire into a man's lance.† â€Å"Oh,† said I. â€Å"I was going to fetch Shanker Mary for you from the laundry, but ten thousand dead and rivers of blood might be a bit beyond her talents, majesty.† â€Å"No, thank you, good Pocket, I shall sit and slide slowly and sadly into oblivion.† â€Å"Or,† said I, â€Å"I could put a bucket on Drool's head and beat him with a sack of beets until the floor is splattered crimson while Shanker Mary gives you a proper tug to accentuate the gore.† â€Å"No, fool, there is no pretending to war.† â€Å"What's Wales doing, majesty? We could invade the Welsh, perpetrate enough slaughter to raise your spirits, and have you back for tea and toast.† â€Å"Wales is ours now, lad.† â€Å"Oh bugger. What's your feeling on attacking North Kensington, then?† â€Å"Kensington's not a mile away. Practically in our own bailey.† â€Å"Aye, nuncle, that's the beauty of it, they'd never see it coming. Like a hot blade through butter, we'd be. We could hear the widows and orphans wailing from the castle walls – like a horny lullaby for you.† â€Å"I should think not. I'm not attacking neighborhoods of London to amuse myself, Pocket. What kind of tyrant do you think me?† â€Å"Oh, above average, sire. Well above bloody average.† â€Å"I'll have you speak no more of war, fool. You've too sweet a nature for such dastardly pursuits.† Too sweet? Moi? Methinks the art of war was made for fools, and fools for war. Kensington trembled that night. On the road to Gloucester I let my anger wane and tried to comfort the old king as best I could by lending him a sympathetic ear and a gentle word when he needed it. â€Å"You simple, sniveling old toss-beast! What did you expect to happen when you put the care of your half-rotted carcass in the talons of that carrion bird of a daughter?† (I may have had some residual anger.) â€Å"But I gave her half my kingdom.† â€Å"And she gave you half the truth in return, when she told you she loved you all.† The old man hung his head and his white hair fell in his face. We sat on stones by the fire. A tent was set in the wood nearby for the king's comfort, as there was no manor house in this northern county for him to take refuge. The rest of us would sleep outside in the cold. â€Å"Wait, fool, until we are under the roof of my second daughter,† said Lear. â€Å"Regan was always the sweet one, she will not be so shabby in her gratitude.† I had no heart to chide the old man any more. Expecting kindness from Regan was hope sung in the key of madness. Always the sweet one? Regan? I think not. My second week in the castle I found young Regan and Goneril in one of the king's solars, teasing little Cordelia, passing a kitten the little one had taken a fancy to over her head, taunting her. â€Å"Oh, come get the kitty,† said Regan. â€Å"Be careful, lest it fly out the window.† Regan pretended she might throw the terrified little cat out the window, and as Cordelia ran, arms stretched out to grab the kitten, Regan reeled and tossed the kitten to Goneril, who swung the kitten toward another window. â€Å"Oh, look, Cordy, she'll be drowned in the moat, just like your traitor mother,† said Goneril. â€Å"Nooooooo!† wailed Cordelia. She was nearly breathless from running sister to sister after the kitten. I stood in the doorway, stunned at their cruelty. The chamberlain had told me that Cordelia's mother, Lear's third queen, had been accused of treason and banished three years before. No one knew exactly the circumstances of the crime, but there were rumors that she had been practicing the old religion, others that she had committed adultery. All the chamberlain knew for sure was that the queen had been taken from the tower in the dead of night, and from that time until my arrival at the castle, Cordelia had not uttered a coherent syllable. â€Å"Drowned as a witch, she was,† said Regan, snatching the kitten out of the air. But this time the little kitten's claws found royal flesh. â€Å"Ow! You little shit!† Regan tossed the kitten out the window. Cordelia loosed an ear-shattering scream. Without thinking I dived through the window after the cat and caught the braided cord with my feet as I flew through. I caught the kitten about five feet below the window as the cord burned between my ankles. Not having thought the move completely through, I hadn't counted on how to catch myself, kitten in hand, when the cord slammed me into the tower wall. The cord tightened around my right ankle. I took the impact on that shoulder and bounced while I watched my coxcomb flutter like a wounded bird to the moat below. I tucked the kitten into my doublet, then climbed back up the cord and in through the window. â€Å"Lovely day for a constitutional, don't you think, ladies?† The three of them all stood with their mouths hanging open, the older sisters had backed against the walls of the solar. â€Å"You lot look like you could use some air,† said I. I took the kitten from my doublet and held it out to Cordelia. â€Å"Kitty's had quite an adventure. Perhaps you should take her to her mum for a nap.† Cordelia took the kitten from me and ran out of the room. â€Å"We can have you beheaded, fool,† said Regan, shaking off her shock. â€Å"Anytime we want,† said Goneril, with less conviction than her sister. â€Å"Shall I send in a maid to tie back the tapestry, mum?† I asked, with a grand wave to the tapestry I'd loosed from the wall when I leapt. â€Å"Uh, yes, do that,† commanded Regan. â€Å"This instant!† â€Å"This instant,† barked Goneril. â€Å"Right away, mum.† And with a grin and a bow, I was gone from the room. I made my way down the spiral stairs clinging to the wall, lest my heart give out and send me tumbling. Cordelia stood at the bottom of the stairs, cradling the kitten, looking up at me as if I were Jesus, Zeus, and St. George all back from a smashing day of dragon slaying. Her eyes were unnaturally wide and she appeared to have stopped breathing. Bloody awe, I suppose. â€Å"Stop staring like that, lamb, it's disturbing. People will think you've a chicken bone caught in your throat.† â€Å"Thank you,† she said, with a great, shoulder-shaking sob. I patted her head. â€Å"You're welcome, love. Now run along, Pocket has to fish his hat from the moat and then go to the kitchen and drink until his hands stop shaking or he drowns in his own sick, whichever comes first.† She backed away to let me pass, never taking her eyes from mine. It had been thus since the night I arrived at the tower – when her mind first crept out from whatever dark place it had been living before my arrival – those wide, crystal-blue eyes looking at me with unblinking wonder. The child could be right creepy. â€Å"Do not make yourself a maid to surprise, nuncle,† said I. I held the reins of my and the king's horse as they drank from an ice-laced stream some hundred miles north of Gloucester. â€Å"Regan is a treasure to be sure, but she may have the same mind as her sister. Although they will deny it, it's often been the case.† â€Å"I cannot think it so,† said the king. â€Å"Regan will receive us with open arms.† There was a racket behind us and the king turned. â€Å"Ah, what is this?† A gaily painted wagon was coming out of the wood toward us. Several of the knights reached for swords or lances. Captain Curan waved for them to stand at ease. â€Å"Mummers, sire,† said the Captain. â€Å"Aye,† said Lear, â€Å"I forgot, the Yule is nearly on us. They'll be going to Gloucester as well, I'll wager, to play for the Yule feast. Pocket, go tell them that we grant them safe passage and they may follow our train under our protection.† The wagon creaked to a stop. Happening upon a train of fifty knights and attendants in the countryside would put any performer on guard. The man driving the wagon stood at the reins and waved. He wore a grand purple hat with a white plume in it. I leapt the narrow stream, and made my way up the road. When the driver saw my motley he smiled. I, too, smiled, in relief – this was not the cruel master from my own days as a mummer. â€Å"Hail, fool, what finds you so far from court and castle?† â€Å"I carry my court with me and my castle lies ahead, sirrah.† â€Å"Carry your court? Then that white-haired old man is – â€Å" â€Å"Aye, King Lear himself.† â€Å"Then you are the famous Black Fool.† â€Å"At your bloody service,† said I, with a bow. â€Å"You're smaller than in the stories,† said the big-hatted weasel. â€Å"Aye, and your hat is an ocean in which your wit wanders like a lost plague ship.† The mummer laughed. â€Å"You give me more than my due, sirrah. We trade not in wit like you, wily fool. We are thespians!† With that, three young men and a girl stepped out from behind the wagon and bowed gracefully and with far too much flourish than was called for. â€Å"Thesbians,† said they, in chorus. I tipped my coxcomb. â€Å"Well, I enjoy a lick of the lily from time to time myself,† said I, â€Å"but it's hardly something you want to paint on the side of a wagon.† â€Å"Not lesbians,† said the girl, â€Å"thesbians. We are actors.† â€Å"Oh,† said I. â€Å"That's different.† â€Å"Aye,† said big hat. â€Å"We've no need of wit – the play's the thing, you see. Not a word passes our lips that hasn't been chewed thrice and spat out by a scribe.† â€Å"Unburdened by originality are we,† said an actor in a red waistcoat. The girl said, â€Å"Although we do bear the cross of fabulously shiny hair – â€Å" â€Å"Blank slates, we are,† said another of the actors. â€Å"We are mere appendages of the pen, so to speak,† said big hat. â€Å"Yeah, you're a bloody appendage, all right,† I said under my breath. â€Å"Well, actors then. Smashing. The king has bade me tell you that he grants you safe passage to Gloucester and offers his protection.† â€Å"Oh my,† said big hat. â€Å"We are only going as far as Birmingham, but I suppose we could double back from Gloucester if his majesty wishes us to perform.† â€Å"No,† said I. â€Å"Please, do pass through and on to Birmingham. The king would never impede the progress of artists.† â€Å"You're certain?† said big hat. â€Å"We've been rehearsing a classic from antiquity, Green Eggs and Hamlet, the story of a young prince of Denmark who goes mad, drowns his girlfriend, and in his remorse, forces spoiled breakfast on all whom he meets. It was pieced together from fragments of an ancient Merican manuscript.† â€Å"No,† said I. â€Å"I think it will be too esoteric for the king. He is old and nods off during long performances.† â€Å"Shame,† said big hat. â€Å"A moving piece. Let me do a selection for you. ‘Green eggs, or not green eggs? That is the question. Whether 'tis nobler in the mind to eat them in a box, with a fox – ‘† â€Å"Stop!† said I. â€Å"Go now, and quickly. War has come to the land and rumor has it that as soon as they've finished with the lawyers, they're going to kill all the actors.† â€Å"Really?† â€Å"Aye,† I nodded most sincerely. â€Å"Quick, on to Birmingham, before you are slaughtered.† â€Å"Everyone jump on,† said big hat, and the actors did as directed. â€Å"Fare thee well, fool!† Then he snapped the reins and drove off, the wagon's wheels bouncing in the ruts of the road. Lear's train parted and watched as the team pulled the wagon by at a gallop. â€Å"What was that?† asked Lear when I returned. â€Å"Wagonload of knobs,† said I. â€Å"Why do they hurry, so?† â€Å"We commanded it so, nuncle. Half their troupe is ill with fever. We want them nowhere near your men.† â€Å"Oh, good show, then, lad. I thought you might be missing the life and were going to join their troupe.† I shuddered at the thought. It had been a cold December day like this when I'd first come to the White Tower with my mummer troupe. We were decidedly not thespians, but singers, jugglers, and acrobats, and I a special asset because I could do all three. Our master was a crooked Belgian named Belette, who bought me from Mother Basil for ten shillings and the promise to feed me. He spoke Dutch, French, and a very broken English, so I don't know how he managed to secure the White Tower for a performance that Christmas, but I was told later that the troupe that was supposed to have performed had suddenly taken ill with stomach cramps and I suspect that Belette poisoned them. I had been with Belette for months, and except for the beatings and cold nights sleeping under a wagon, I had received little but my daily bread, the occasional cup of wine, and the skills of knife-throwing and sleight of hand as it could be applied to purse cutting. We were led into the great hall at the tower, which was filled with nobles reveling and feasting on platters of food such as I had never seen. King Lear sat at the center of the main table, flanked by two beautiful girls about my age, who I would later find out were Regan and Goneril. Beside Regan sat Gloucester, his wife, and their son Edgar. The intrepid Kent sat on the other side next to Goneril. Under that table, at Lear's feet, a little girl was curled up, watching the celebration – wide-eyed, like a frightened animal, clinging to a rag doll. I must confess, I thought the child might be deaf or even simpleminded. We performed for perhaps two hours, singing songs of the saints during dinner, then moving on to bawdier fare as the wine flowed and the guests loosened their hold on propriety. By late in the evening everyone was laughing, the guests were dancing with the performers, and even the commoners who lived in the castle had joined the party, but the little girl remained under the table, making not a sound. Not a smile, not an eyebrow raised in delight. There was light there behind those crystal-blue eyes – this was not a simpleton – but she seemed to be staring out of them from afar. I crawled under the table and sat next to her. She barely acknowledged my presence. I leaned in close and nodded toward Belette, who stood by a column near the center of the hall, leering lecherously at the young girls who frolicked about him. I could see the little girl spied the scoundrel, too. Ever so softly, I sang a little song the anchoress had taught me, with the lyrics changed a bit to adapt to the situation. â€Å"Belette was a rat, was a rat, was a rat, was a rat, Belette was a rat, was a rat, was a rat, was a rat, Belette was a rat who ate his tail.† And the little girl pulled back and looked at me, as if to see if I had really sung such a thing. And I sang on: â€Å"Belette was a rat, was a rat, was a rat, Belette was a rat, was a rat, was a rat, Belette was a rat, who drowned in a pail.† And the little girl cackled – a broken, little-girl yodel of a laugh that rang of innocence and joy and delight. I sang on, and ever so softly, she sang with me, â€Å"Belette was a rat, was a rat, was a rat, Belette was a rat – â€Å" And we were no longer alone under the table. There was another pair of crystal-blue eyes, and behind them a white-haired king. The old king smiled and squeezed my biceps. And before the other guests noticed that the king was under the table, he sat back up on his throne, but he reached down and lay a hand across the little girl's shoulder and the other upon mine. It was a hand reached across a vast chasm of reality – from the highest position of ruler of the realm, to a lowborn orphan boy who slept in the mud under a wagon. I thought it must have been how a knight felt when the king's sword touched his shoulder, elevating him to nobility. â€Å"Was a rat, was a rat, was a rat,† we sang. When the party died down and noble guests hung drunk over the tables, the servants piled onto the floor before the fire, Belette began to move among the revelers and tap each of his performers, calling them to gather by the door. I had fallen asleep under the table, and the little girl against my arm. He pulled me up by my hair. â€Å"You did nothing all night. I watched.† I knew there was a beating in store for when we got back to the wagon, and I was prepared for it. At least I had eaten some supper at the feast. But as Belette turned to drag me away he stopped, abruptly. I looked up to see the master frozen in space, a sword-point pressed into his cheek just below his eye. He let go of my hair. â€Å"Good thought,† said Kent, the old bull, pulling his sword back, but holding it steadily aimed, a hand's breadth from Belette's eye. There was a sound of coin on the table and Belette couldn't help but look down, even at the peril of his life. A doeskin purse as big as a man's fist lay before him. The chamberlain, a tall, severe chap who looked perpetually down his nose, stood beside Kent. He said, â€Å"Your payment, plus ten pounds, which you shall accept as payment for this boy.† â€Å"But – † said Belette. â€Å"You are a word from your mortality, sirrah,† said Lear. â€Å"Do go on.† He sat straight and regal on his throne, one hand pressed to the cheek of the little girl, who had awakened and was clinging to his leg. Belette took the purse, bowed deeply, and backed across the hall. The other mummers of my troupe bowed and followed him out. â€Å"What is your name, boy?† asked Lear. â€Å"Pocket, your majesty.† â€Å"Well, then, Pocket, do you see this child?† â€Å"Yes, majesty.† â€Å"Her name is Cordelia. She is our youngest daughter, and henceforth shall be your mistress. You have one duty above all, Pocket. That is to make her happy.† â€Å"Yes, majesty.† â€Å"Take him to Bubble,† said the king. â€Å"Have her feed and bathe him, then find him new clothes.† Back on the road to Gloucester, Lear said, â€Å"So, what is your will, Pocket? Would you be a traveling mummer again – trade the comfort of the castle for the adventure of the road?† â€Å"Apparently, I have, nuncle,† said I. We camped at the stream, which froze over during the night. The old man sat shivering by the fire with his rich fur cloak wrapped around him; the garment so full and the man so slight that it appeared he was being consumed by a slow but well-groomed beast. Only his white beard and the hawk nose were visible outside the cloak – two stars of fire shone back in the cape creature, his eyes. Snow fell around us in great wet orgies of flakes, and my own woolen cloak, which I'd pulled over my head, was sodden. â€Å"Have I been so unfit as a father that my daughters would turn on me so?† asked Lear. Why, now, did he choose to stare into the dark barrel of his soul, when he'd been content all these years to simply scoop out his desires and let the consequences wash over whomever they may? Bloody inopportune time for introspection, after you've given away the roof over your head. But I did not say so. â€Å"What would I know of proper fathering, sire? I had no father nor mother. I was reared by the Church, and I'd not give a hot squirt of piss for the lot of them.† â€Å"Poor boy,† said the king. â€Å"As long as I live, you shall have father and family.† I would have pointed out that he had himself declared his crawl to the grave commenced, and that given his performance with his daughters, I might do better to go forth an orphan, but the old man had rescued me from the life of a slave and wanderer, and given me a home in the palace, with friends and, I suppose, family of a sort. So I said, â€Å"Thank you, majesty.† The old man sighed heavily and said, â€Å"None of my three queens ever loved me.† â€Å"Oh, for fuck's sake, Lear, I'm a jester, not a bloody wizard. If you're going to keep diving into the muck of your regrets then I'll just hold your sword for you and you can see if you can get your ancient ass moving enough to fall on the pointy part so we can both get some bloody peace.† Lear laughed then – twisted old oak that he was – and patted my shoulder. â€Å"I could ask nothing more of a son than he give me laughter in my despair. I'm off to bed. Sleep in my tent, tonight, Pocket, out of the cold.† â€Å"Aye, sire.† I was touched by the old man's kindness, I cannot deny it. The old man tottered over to his tent. One of the pages had been carrying hot stones into the tent for an hour and I felt the heat rush out as the king ducked inside. â€Å"I'll be in after I've had a wee,† said I. I walked to the edge of the fire's light and beside a great bare elm was relieving myself when a blue light shimmered in the forest before me. â€Å"Well, that's a woolly tuft of lamb wank,† said a woman's voice, just as the girl ghost stepped out from behind the tree upon which I was weeing. â€Å"God's balls, wisp, I've almost peed on you!† â€Å"Careful, fool,† said the ghost, looking frighteningly solid now – just a tad translucent – snowflakes were passing through her. But I was not frightened. â€Å"Warm thy grateful heart, In the king's family, But for his royal crimes, You'd not an orphan be.† â€Å"That's it?† I asked. â€Å"Rhymes and riddles? Still?† â€Å"All you need for now,† said the ghost. â€Å"I saw the witches,† said I. â€Å"They seemed to know you.† â€Å"Aye,† said the ghost. â€Å"There's dark deeds afoot at Gloucester, fool. Don't lose sight.† â€Å"Sight of what?† But she was gone, and I was standing in the woods, my willie in my hand, talking to a tree. On to Gloucester in the morning, and I'd see what I was not to lose sight of. Or some such nonsense. Cornwall's and Regan's flags flew over the battlements alongside Gloucester's, showing they had already arrived. Castle Gloucester was a bundle of towers surrounded by a lake on three sides and by a wide moat at the front – no outer curtain wall like the White Tower or Albany, no bailey, just a small front courtyard and a gatehouse that protected the entrance. The city wall, on the land side of the castle, provided the outer defenses for stables and barracks. As we approached, a trumpet sounded from the wall announcing us. Drool came running across the drawbridge, his arms held high. â€Å"Pocket, Pocket, where have you been? My friend! My friend!† I was greatly relieved to see him alive, but the great, simple bear pulled me from my horse and hugged me until I could barely breathe, dancing me in a circle, my feet flying in the air as if I was a doll. â€Å"Stop licking, Drool, you lout, you'll wear my hair off.† I clouted the oaf on the back with Jones and he yowled. â€Å"Ouch. Don't hit, Pocket.† He dropped me and crouched, hugging himself as if he were his own comforting mother, which he may have been, for all I know. I saw red-brown stains on his shirt back, and so lifted it to see the cause. â€Å"Oh, lad, what has happened to you?† My voice broke, tears tried to push out of my eyes, and I gasped. The muscular slab of Drool's back was nearly devoid of skin – his hide had been torn and scabbed over and torn again by a vicious lash. â€Å"I've missed you most awful,† said Drool. â€Å"Aye, me too, but how happened these stripes?† â€Å"Lord Edmund says I am an insult to nature and must be punished.† Edmund. Bastard.