The Death Penalty As a Form of Justice Around the World Essay -- Death

The Death Penalty As a Form of Justice Around the World institutionThe death penalty is a subject that has become very big in the 21st century. Many centuries ago the death penalty is mostthing that was widely ripe in almost all cultures. This revenge sort of action was the only way some old civilizations felt could really prevent criminals from breaking the law. The ground forces today is almost left alone among nations when it comes to the death penalty and the U.S. government does non have a problem with that. Arguments for the death penalty Capital punishment permanently removes the worst criminals from society and should prove much cheaper and safer for the rest of us than long term. It is self evident that dead criminals cannot commit any further crimes, either within prison or after escaping or being released from it. Another argument for the death penalty is the cost factor. The state may very puff up better spend our resources on the elderly, young and the si ck rather than the long-term imprisonment of murderers. Execution is a very real punishment rather than some form of treatment. The criminal is made to suffer in proportion to the offence. Although whether there is a place in a modern society, is a matter of individualized opinion. There are many arguments why revokeing the death penalty should be done. Some argue the costs are too high, others think it is simply inhumane. I personally could not discount the value of human life because it costs less to kill someone rather that to keep them in jail. I do agree that all human life should be valued equally but that has not happened ever and I dont think it is going to start now. until now in a communist society, people are not equal. It is just the natu... ...normal in a sense. In conclusion I would like to put that I dont exactly know how the U.S. Catholic bishops felt about this issue a hundred years ago, but in modern times, death is not always the best way to solve societys pr oblems. I am glad to see that a major influence has spoken out to help abolish the death penalty and I think that is a huge step in the movement. Nothing will ever change unless an influential body urges and persists with teachings of peacefulness and non-violent alternatives. If the death penalty was abolished, I think over time we would in fact see the murder rates decrease as generations of children are raised sensitive to death and violence.Bibliographywww.wikipedia.org for examples around world Resource website Ideas after watching Dead Man WalkingEmotions after reading Newspaper opinion piecesRE criticize Resource Book Section F

Does The Internet Foster Isola Essay -- essays research papers

One of the most talked, known and controversial issues today is the Internet. Internet is a large network do up of a number of smaller networks. Almost every computer in an educational facility and in home and small office lend oneself is connected to some type of a network. People spent a lot of time on the Internet, which may make them seem spaced. However, the Internet does not foster isolation, because it may be used for many variant topics like communication, education, problem solving and etc.The concept for the Internet was to make a affiliate in to a new world, a world that has many different opportunities within its self. To gives the people options to go to China, Italy, and Egypt without spending a lot of money on the trip. To open new experiences and ideas that are just a click of a button away. The idea of going on to the internet for almost every thing may make the person seem isolated. Isolated from people, form culture, from education, from communication to oth er people, but in reality they are not isolated. The internet gives variety. It magnate not give physical opportunity to visit Japan or Russia, but it gives almost the same emotional and cultural experiences. A person does not have to read a newspaper on the train or go to an art gallery to be cultured and not seem isolated a person just has to do what feels right at a certain time.The Internet also gives a misconception about communication. Internet is a different world that has the idea of communication in ...

Life of Pi :: essays research papers

Having just experienced the sinking of his familys ship, and being put onto a life boat with only a hyena, Pi felt completely lost and alone. When he sees Richard Parker, the Bengal tiger from his familys zoo, it is a long-familiar face to him. His sign reaction is to save the life of his familiar friend so that he may have a companion, and a protector aboard the lifeboat. Suddenly Pi realizes just what he is doing. He is conservation the life of Richard Parker, by welcoming him, a 450 pound Bengal tiger, onto the small lifeboat. He experiences a change of heart when circumstances the tiger onto the boat. Pi realizes that he is instantly posing a threat on his own life. With Richard Parker on the boat, Pi is faced with not only the counterbalance to survive stranded in the center of the Pacific Ocean, but the fight to survive living with a meat eating tiger. The change of heart that Pi experiences might possibly mean that he is an impulsive thinker. It may mean that he pract ically does something on impulse without thinking it through, and then later celestial latitude his actions.How does Pi maintain his religious beliefs turn on the boat?Pi maintains his religious beliefs while on the life boat through his daily prayers. He takes time aside each solar day to say the prayers that he always would say. In one instance, he turns where he believes Mecca is located, and prays his traditional prayers towards Mecca. Pi also often states that he will include particularized animals in his prayers, such as the zebra aboard his lifeboat, and the first fish that he ever killed. With Pi keeping his religious rite prayers going, it helped him to survive.Life of Pi essays research papers Having just experienced the sinking of his familys ship, and being put onto a life boat with only a hyena, Pi felt completely lost and alone. When he sees Richard Parker, the Bengal tiger from his familys zoo, it is a familiar face to him. His initial reaction is to save the l ife of his familiar friend so that he may have a companion, and a protector aboard the lifeboat. Suddenly Pi realizes just what he is doing. He is saving the life of Richard Parker, by welcoming him, a 450 pound Bengal tiger, onto the small lifeboat. He experiences a change of heart when helping the tiger onto the boat. Pi realizes that he is now posing a threat on his own life. With Richard Parker on the boat, Pi is faced with not only the fight to survive stranded in the middle of the Pacific Ocean, but the fight to survive living with a meat eating tiger. The change of heart that Pi experiences might possibly mean that he is an impulsive thinker. It may mean that he often does something on impulse without thinking it through, and then later regrets his actions.How does Pi maintain his religious beliefs while on the boat?Pi maintains his religious beliefs while on the life boat through his daily prayers. He takes time aside each day to say the prayers that he always would say. In one instance, he turns where he believes Mecca is located, and prays his traditional prayers towards Mecca. Pi also often states that he will include specific animals in his prayers, such as the zebra aboard his lifeboat, and the first fish that he ever killed. With Pi keeping his ritual prayers going, it helped him to survive.

Thoughts on Jack Finneys Novel Time and Again :: essays research papers

Time and AgainA novel by Jack Finney despite the fact Time and Again is fictional, it makes one wistful, thinking of how incredible it would be to be in Simon Morleys place. To be able to see the world precisely as if a day had not passed in the time of 1882, to converse, to touch, to just breathe the air of the past is merely dreaming.Author Jack Finney describes how such a thing would come to pass travelling back in time and for a moment or more, I could believe every word. However far-fetched or seemingly plausible the novel was, it was told brilliantly, and the sketches helped one immerse themselves more and more into the tale. The novel had the similar effect of Dan Browns novels (The Da Vinci Code, Angels & Demons, Deception Point) with meticulous research and facts, coupled with smart and abstract characters, and a theory or two, making for a convincing novel. But unlike Dan Browns novels, told with a good deal suspense, heroism, and a distinctive hard-edged writing styl e, Time and Again was spun enthrallingly, but with a softer side, in the way character Simon Morley addressed the reader, almost in a colloquial way.At some point in the story, most major characters had a moment where I felt as if it was truly summing up the character or their feelings, a moment where I truly felt as if I was seeing a depth in the character that was unknown before. Such as Jake Pickering, Julia Huffs supposed husband-to-be, and his very unanticipated tattooing of JULIA across his chest in defiance of Simons interference and his assertion of owning Julia and her love, a very fearful act by a desperate man. Julia herself had many of these defining moments, but what I felt to be the most striking was her initial reaction the establish as Simon took her back into his time. Julias alien-like wonder at such things as television, and the shortness the skirt Simon bought for her (knee-high). But it is how easily Julia adjusts to the newness all around her, and her innoc ence and repulsion at the violence we tolerate that truly made it a very prominent scene. It was a moment to reflect upon how we (North America especially) so easily behave the violence around us. As for Simon, he had many moments with much depth as well, but I found myself feeling very compassionate towards him when he returned back to 1882 for around the third or fourth time.

The Great Gatsby and the American Dream :: The Great Gatsby

IntroductionF. Scott Fitzgeralds novel, The Great Gatsby, is one of the few novels he wrote in 1925. The novel takes place during the 1920s following the 1st World War. It is written about a young man named Nick, from the east he moved to the west to learn about the link business. He hold ons up moving next to a mysterious man named Gatsby who ends up giving him the lesion of his life.After love circles with Gatsby and his cousin Daisy, lastly Jordan and gossip resulting with killings end up discussed over his experience resulting going back east. done reading the book, it shows how the experience of selfness and World War 1 made the high social pollyannaish over their lives. It showed how they wanted to forget the past and build themselves back into their social class. Also, by the experience of Daisy and Jordan treatment from the men in the stories allows the reader to see how prison term still hasnt changed how relationships work with men.This novel is a great novel to give a n example on how reality is to people even the high class. Through the discussion of the passage, poem and scholarly article will show how the path towards the American Dream can turn into a negative or dogmatic outcome in a persons life.ThemeWhen Mr. Fitzgerald wrote The Great Gatsby, he described the actions of the human society. In a certain way, not altogether did he describe and critic the high class but also the lower class, which ended up critiquing the American Dream. The American Dream was a imagination give to believe that a human being should pursue being happy, wealthy, and loved which has cause any human being to go in search for this idea. All that is end up being found is the fact of having the illusion of having more material is to be happy than being happy by valuing what you already have.Gatsby would be a great example of not valuing his materials. He had everything he wanted except Daisy of course but he never used or appreciated the materials he was surroun ded by. You know, old sport, Ive never used that pool all summer, said Gatsby. He didnt value anything but Daisy since the ground for everything he did was for her. It only leaves to question to whether he really loved her or wanted her wealth or maybe just even the accomplishment of having her.

Alcohol And Driving While Intoxicated :: DUI, Drunk Driving, research papers

Alcohol and unprompted While IntoxicatedAlcohol is a drug, a very touristed drug. Alcohol has been around for along time, and people have always enjoyed its effects. Many people havepassions for alcohol, some people have refrigerators filled with beer, legion(predicate)others are wine connoisseurs. Alcohol always seems to liven up the party. Butno madder what your preference is, alcohol can be very monstrous when combinedwith the operation of an automobile. If you can remember only a few things fromthis report remember this cause intoxicated is unsafe to you, and everyone elsearound you. The drivers of other elevator cars, pedestrians, etc Driving drunk canalso be very, very costly insurance surcharges, insurance rates, tickets, fines.You should understand what alcohol does to you before we go on. Alcoholis a depressant, and a great deal enhances your mood. If your angry, after a coupledrinks you may be quite possibly angrier. If you are sad, you probably willfeel sadder af ter some drinks. It is not swell to drink and drive when you arein a good mood, but your driving is also influenced by your mood. It can makeyou drive faster, pay aid less, etc Studys have shown that thecombination of anger, and drinking is responsible for much of reckless driving.Not only can alcohol enhance your mood, but it has been proven that it can promptly alter your mood. When alcohol is consumed, it is not digested. Itpasses through your stomach and small intestine directly into the bloodstreamand is carried to all parts of your body. It reaches your brain in small amounts.When alcohol is ingested in larger amounts, it dulls the area of your brainthat control inhibition, judgment, and self-control. Hopefully you can see howthis could be detrimental to your health when driving. Drinking.But how does alcohol effect my driving? To expand upon this, drinkingincreases your self-confidence, and inhibitions but lowers your drivingperformance (reaction times, stopping distance). You may feel like you can doanything behind the wheel of a car after a six-pack. But you cant. Many, manyaccidents occur because of drinking. Most of these accidents involve only 1 car,but other people are killed by drunk drivers. There is a technique to protectyourself from drunk drivers. First, always wear your seat belt. Second, keepyour distance from anyone that may appear to be under the influence. Anyone whois swerving, or going to slow are good examples. But it is impossible toprevent all of these accidents, people have to be educated about drinking and

Alcohol And Driving While Intoxicated :: DUI, Drunk Driving, research papers

Alcohol and Driving While IntoxicatedAlcohol is a drug, a very popular drug. Alcohol has been around for a ache time, and people have invariably enjoyed its effects. Many people havepassions for alcohol, some people have refrigerators filled with beer, many a(prenominal)others are wine connoisseurs. Alcohol always seems to liven up the party. Butno madder what your preference is, alcohol can be very dangerous when combinedwith the operation of an automobile. If you can think back only a few things fromthis report remember this whimsical drunk is unsafe to you, and everyone elsearound you. The drivers of other cars, pedestrians, etc Driving drunk canalso be very, very costly insurance surcharges, insurance rates, tickets, fines.You should understand what alcohol does to you before we go on. Alcoholis a depressant, and often enhances your mood. If your angry, after a coupledrinks you whitethorn be quite possibly angrier. If you are sad, you probably willfeel sadder after some drin ks. It is not sizable to drink and drive when you arein a good mood, but your driving is also influenced by your mood. It can makeyou drive faster, pay attention less, etc Studys have shown that thecombination of anger, and drinking is obligated for much of reckless driving.Not only can alcohol enhance your mood, but it has been proven that it canquickly alter your mood. When alcohol is consumed, it is not digested. Itpasses through your stomach and small intestine directly into the bloodstreamand is carried to all parts of your body. It reaches your whiz in small amounts.When alcohol is ingested in larger amounts, it dulls the area of your brainthat control inhibition, judgment, and self-control. Hopefully you can see howthis could be detrimental to your health when driving. Drinking.But how does alcohol effect my driving? To expand upon this, drinkingincreases your self-confidence, and inhibitions but lowers your drivingperformance (reaction times, stopping distance). You may feel like you can doanything behind the wheel of a car after a six-pack. But you cant. Many, manyaccidents occur because of drinking. Most of these accidents involve only 1 car,but other people are killed by drunk drivers. There is a technique to entertainyourself from drunk drivers. First, always wear your seat belt. Second, keepyour distance from anyone that may appear to be under the influence. Anyone whois swerving, or going to slow are good examples. But it is impossible toprevent all of these accidents, people have to be educated about drinking and

The Mist Countries

THE THE MIST COUNTRIES Mexico, Indonesia, southernmost Korea & Turkey Are MIST countries becoming the brand- in the buff BRICs? For many investors, Mexico, Indonesia, South Korea and Turkey have taken over from the BRICS becoming the four biggest emerging markets, and growing faster than their major rivals. BRIC inventor Jim ONeil from Goldman Sachs proposed the new term MIST term for Mexico, Indonesia, South Korea and Turkey, which ar the four biggest markets in the Goldman Sachs N-11 Equity Fund. The MIST economies to a greater extent than doubled during the last decade, according to Bloomberg, and continue inflate despite spherical scrimping concerns.Mexicos IPC Index has climbed 11% this year, comparing with a 2. 8% growth of Brazils Bovespa. Meanwhile Turkeys ISE National 100 gained 28 percent, compared to 13% gain of BSE India Sensitive Index and 2. 6% gain in Russias MICEX. Though the MIST nations outperformed the BRIC in pace of growth, its economic output still cant approach the BRIC. Total gross domestic product for the MIST nations was $3. 9 one million million last year, compared to $13. 5 trillion of BRIC economies and $7. 3 trillion for China alone. Comment If you go to the Wikipedia page about BRIC you testament read that Mexico and South Korea tried to become sectionalisation of BRIC.It was used the chassis BRIMC. But it failed because the BRIC were Core-Hubs in their areas (Eurasia, South America, Far East, South East Asia) while the MIST are a second dependent layer around the Hub. In fact, and to be precise there are three World Hubs-Cores USA, GERMANY (Eurozone) and CHINA. Turkey depends on Europe, Mexico depends on the US, South Korea depends on China. So, if those hubs are hit, the MIST will be hit MUCH MORE, as we remember from the Bhat crisis. Russia could be an Eurasian and Energy Hub-Core. even if still not fully developed, so it is still a layer of the E. U. Hub. Mexico Economy overviewMexico has a free market delivery i n the trillion clam class. It contains a mixture of modern and outmoded industry and agribusiness, progressively dominated by the private sphere of influence. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. Per capita income is roughly one-third that of the US income distribution remains highly unequal. Since the implementation of the North American Free Trade Agreement (NAFTA) in 1994, Mexicos mete out of US imports has increased from 7% to 12%, and its share of Canadian imports has doubled to 5%.Mexico has free trade agreements with over 50 countries including Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan putting more than 90% of trade under free trade agreements. In 2007, during its commencement exercise year in office, the Felipe CALDERON administration was able to garner support from the opposition to successfully ease up pension and f iscal reforms. The administration passed an energy reform measure in 2008 and an some other fiscal reform in 2009. Mexicos GDP plunged 6. 2% in 2009 as gentlemans gentleman demand for exports dropped, asset prices tumbled, and remittances and enthronement declined. GDP posted positive growth of 5. % in 2010 and 3. 8% in 2011, with exports particularly to the United States spark advance the way. The administration continues to mettle many economic challenges, including improving the public education system, upgrading infrastructure, modernizing labor laws, and fostering private investiture in the energy sector. CALDERON has stated that his jacket crown economic priorities remain reducing poverty and creating jobs. GDP (purchasing power parity) $1. 657 trillion (2011 est. ) $1. 596 trillion (2010 est. ) $1. 514 trillion (2009 est. ) note info are in 2011 US dollars GDP (official switch over consider) $1. 185 trillion (2011 est. ) GDP real growth rate . 8% (2011 est. ) 5. 4% (2010 est. ) -6. 2% (2009 est. ) GDP per capita (PPP) $15,100 (2011 est. ) $14,400 (2010) $13,600 (2009) notedata are in 2011 US dollars GDP art object by sector agriculture3. 8% industry34. 2% services62% (2011 est. ) Population at a lower place poverty line 18. 2% notebased on food-based definition of poverty asset based poverty amounted to more than 47% (2008) lug king 49. 17 million (2011 est. ) Labor force by occupation agriculture13. 7% industry23. 4% services62. 9% (2005) Unemployment rate 5. 2% (2011 est. ) 5. 4% (2010 est. ) noteunderemployment may be as high as 25%Unemployment, juvenility ages 15-24 total10% anthropoid9. 7% female10. 6% (2009) Household income or usage by percentage share lowest 10%1. 5% highest 10%41. 4% (2008) diffusion of family income Gini index 51. 7 (2008) 53. 1 (1998) Public debt 37. 5% of GDP (2011 est. ) 36. 9% of GDP (2010 est. ) Inflation rate (consumer prices) 3. 5% (2011 est. ) 4. 2% (2010 est. ) Central hope discount rate NA% (3 1 celestial latitude 2010 est. ) 4. 5% (31 celestial latitude 2009 est. ) commercial-grade depone prime lending rate 5% (31 celestial latitude 2011 est. ) 5. 287% (31 December 2010 est. ) old-hat of domestic credit $407. 4 one thousand million (31 December 2011 est. $374. 2 one thousand million (31 December 2010 est. ) Market respect of publicly traded shares $454. 3 million (31 December 2010) $340. 6 one million million million (31 December 2009) $232. 6 one million million million (31 December 2008) Agriculture products corn, wheat, soybeans, rice, beans, cotton, coffee, fruit, tomatoes beef, poultry, dairy products woodwind products Industries food and beverages, tobacco, chemicals, iron and marque, petroleum, mining, textiles, clothing, motor vehicles, consumer durables, tourism Industrial doing growth rate 3. 9% (2011 est. ) Current Account Balance -$11. 27 billion (2011 est. ) -$5. 724 billion (2010 est. ) Exports $336. billion (2011 est. ) $298. 5 billion (2010 e st. ) Exports commodities manufactured goods, oil and oil products, silver, fruits, vegetables, coffee, cotton Exports partners US 73. 5%, Canada 7. 5% (2009 est. ) Imports $341. 9 billion (2011 est. ) $301. 5 billion (2010 est. ) Imports commodities metalwork machines, steel mill products, agricultural machinery, electrical equipment, car parts for assembly, repair parts for motor vehicles, aircraft, and aircraft parts Imports partners US 60. 6%, China 6. 6%, South Korea 5. 2% (2009 est. ) Reserves of extraneous switch over and gold $142 billion (31 December 2011 est. ) 114 billion (31 December 2010 est. ) Debt external $204 billion (31 December 2011 est. ) $195. 6 billion (31 December 2010 est. ) computer storage of direct foreign enthronement at home $321. 5 billion (31 December 2011 est. ) $326. 1 billion (31 December 2010 est. ) shop of direct foreign investment abroad $84. 92 billion (31 December 2011 est. ) $78. 38 billion (31 December 2010 est. ) Exchange rates Me xican pesos (MXN) per US dollar 12. 39 (2011 est. ) 12. 636 (2010 est. ) 13. 514 (2009) 11. 016 (2008) 10. 8 (2007) fiscal year calendar year Indonesia Economy overview Indonesia, a vast polyglot nation, grew an estimated 6. % and 6. 4% in 2010 and 2011, respectively. The government made economic advances under the first administration of President YUDHOYONO (2004-09), introducing significant reforms in the monetary sector, including tax and customs reforms, the use of Treasury bills, and capital market phylogenesis and supervision. During the global pecuniary crisis, Indonesia outperformed its regional neighbors and joined China and India as the only G20 members posting growth in 2009. The government has promoted fiscally conservative policies, resulting in a debt-to-GDP ratio of less than 25%, a small current ccount surplus, a fiscal deficit below 2%, and historically low rates of inflation. Fitch and Moodys upgraded Indonesias credit rating to investment grade in December 20 11. Indonesia still struggles with poverty and unemployment, inadequate infrastructure, corruption, a complex regulatory environment, and unequal resource distribution among regions. The government in 2012 faces the current challenge of improving Indonesias insufficient infrastructure to remove impediments to economic growth, labor unrest over wages, and reducing its fuel subsidy program in the face of rising oil prices.GDP (purchasing power parity) $1. 121 trillion (2011 est. ) $1. 054 trillion (2010 est. ) $993 billion (2009 est. ) notedata are in 2011 US dollars GDP (official exchange rate) $834. 3 billion (2011 est. ) GDP real growth rate 6. 4% (2011 est. ) 6. 1% (2010 est. ) 4. 6% (2009 est. ) GDP per capita (PPP) $4,700 (2011 est. ) $4,400 (2010 est. ) $4,300 (2009 est. ) notedata are in 2011 US dollars GDP composition by sector agriculture14. 7% industry47. 2% services38. 1% (2011 est. ) Population below poverty line 13. 33% (2010) Labor force 117. 4 million (2011 est. )L abor force by occupation agriculture38. 3% industry12. 8% services48. 9% (2010 est. ) Unemployment rate 6. 6% (2011 est. ) 7. 9% (2010 est. ) Unemployment, youth ages 15-24 total22. 2% male21. 6% female23% (2009) Household income or consumption by percentage share lowest 10%3. 3% highest 10%29. 9% (2009) Distribution of family income Gini index 36. 8 (2009) 39. 4 (2005) Public debt 24. 5% of GDP (2011 est. ) 25. 7% of GDP (2010 est. ) Inflation rate (consumer prices) 5. 7% (2011 est. ) 5. 1% (2010 est. ) Central strand discount rate 6. 37% (31 December 2010) 6. 46% (31 December 2009) otethis figure represents the 3-month SBI rate the Bank of Indonesia has not employed the one-month SBI since September 2010 Commercial bank prime lending rate 12. 2% (31 December 2011 est. ) 13. 252% (31 December 2010 est. ) notethese figures represent the average annualized rate on working capital loans bank line of domestic credit $305. 2 billion (31 December 2011 est. ) $254. 1 billion (31 Decem ber 2010 est. ) Market value of publicly traded shares $360. 4 billion (31 December 2010) $178. 2 billion (31 December 2009) $98. 76 billion (31 December 2008) Agriculture products ice, cassava (manioc), peanuts, arctic, cocoa, coffee, palm oil, copra poultry, beef, pork, eggs Industries petroleum and natural gas, textiles, apparel, footwear, mining, cement, chemical fertilizers, plywood, rubber, food, tourism Industrial production growth rate 4. 1% (2011 est. ) Current Account Balance $5. 704 billion (2011 est. ) $5. 654 billion (2010 est. ) Exports $208. 9 billion (2011 est. ) $158. 1 billion (2010 est. ) Exports commodities oil and gas, electrical appliances, plywood, textiles, rubber Exports partners Japan 16. 3%, China 10%, US 9. 1%, Singapore 8. 7%, South Korea 8%, India 6. %, Malaysia 5. 9% (2009) Imports $172. 1 billion (2011 est. ) $127. 4 billion (2010 est. ) Imports commodities machinery and equipment, chemicals, fuels, foodstuffs Imports partners China 15. 1%, Sing apore 14. 9%, Japan 12. 5%, US 6. 9%, Malaysia 6. 4%, South Korea 5. 7%, Thailand 5. 5% (2009) Reserves of foreign exchange and gold $136. 2 billion (31 December 2011 est. ) $96. 21 billion (31 December 2010 est. ) Debt external $158. 8 billion (31 December 2011 est. ) $196. 1 billion (31 December 2010 est. ) Stock of direct foreign investment at home $105. 7 billion (31 December 2011 est. ) $86. 5 billion (31 December 2010 est. ) Stock of direct foreign investment abroad $41. 89 billion (31 December 2011 est. ) $32. 85 billion (31 December 2010 est. ) Exchange rates Indonesian rupiah (IDR) per US dollar 8,696. 1 (2011 est. ) 9,090. 43 (2010 est. ) 10,389. 9 (2009) 9,698. 9 (2008) 9,143 (2007) Fiscal year calendar year South Korea Economy overview South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa a nd Asia.In 2004, South Korea joined the trillion dollar club of world economies, and currently is among the worlds 20 largest economies. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of unrefined materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Koreas development model including high debt/equity ratios and massive short-run foreign borrowing.GDP plunged by 6. 9% in 1998, and then recovered by 9% in 1999-2000. Korea adoptive numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annually between 2003 and 2007. With the global economic downturn in late 2008, South Korean GDP growth slowed to 0. 3% in 2009. In the third quarter of 20 09, the economy began to recover, in large part due to export growth, low interest rates, and an expansionary fiscal policy, and growth was 3. 6% in 2011. In 2011, theUS-South Korea Free Trade Agreement was ratified by both governments and is projected to go into effect in early 2012. The South Korean economys long term challenges include a rapidly develop population, inflexible labor market, and heavy reliance on exports which comprise half of GDP. GDP (purchasing power parity) $1. 549 trillion (2011 est. ) $1. 495 trillion (2010 est. ) $1. 409 trillion (2009 est. ) notedata are in 2011 US dollars GDP (official exchange rate) $1. 164 trillion (2011 est. ) GDP real growth rate 3. 6% (2011 est. ) 6. 2% (2010 est. ) 0. 3% (2009 est. ) GDP per capita (PPP) 31,700 (2011 est. ) $30,600 (2010 est. ) $28,900 (2009 est. ) notedata are in 2011 US dollars GDP composition by sector agriculture2. 6% industry39. 2% services58. 2% (2008 est. ) Population below poverty line 15% (2006 est. ) L abor force 25. 1 million (2011 est. ) Labor force by occupation agriculture6. 4% industry24. 2% services69. 4% (2011 est. ) Unemployment rate 3. 4% (2011 est. ) 3. 7% (2010 est. ) Unemployment, youth ages 15-24 total9. 8% male11. 9% female8. 5% (2009) Household income or consumption by percentage share lowest 10%2. 7% highest 10%24. 2% (2007)Distribution of family income Gini index 31 (2010) 35. 8 (2000) Public debt 33. 3% of GDP (2011 est. ) 35. 1% of GDP (2010 est. ) Inflation rate (consumer prices) 4% (2011 est. ) 3% (2010 est. ) Central bank discount rate 1. 5% (31 December 2011) 1. 25% (31 December 2009) Commercial bank prime lending rate 5. 9% (31 December 2011 est. ) 5. 508% (31 December 2010 est. ) Stock of domestic credit $1. 356 trillion (31 December 2011 est. ) $1. 275 trillion (31 December 2010 est. ) Market value of publicly traded shares $996. 7 billion (31 December 2011) $1. 093 trillion (31 December 2010) $836. billion (31 December 2009) Agriculture products rice, root crops, barley, vegetables, fruit cattle, pigs, chickens, milk, eggs fish Industries electronics, telecommunications, automobile production, chemicals, shipbuilding, steel Industrial production growth rate 3. 8% (2011 est. ) Current Account Balance $29. 79 billion (2011 est. ) $28. 21 billion (2010 est. ) Exports $556. 5 billion (2011 est. ) $466. 4 billion (2010 est. ) Exports commodities semiconductors, wireless telecommunications equipment, motor vehicles, computers, steel, ships, petrochemicals Exports partners China 24. %, US 10. 1%, Japan 7. 1% (2009 est. ) Imports $524. 4 billion (2011 est. ) $425. 2 billion (2010 est. ) Imports commodities machinery, electronics and electronic equipment, oil, steel, transport equipment, total chemicals, plastics Imports partners China 16. 5%, Japan 13%, US 8. 5%, Saudi Arabia 7. 1%, Australia 5% (2009 est. ) Reserves of foreign exchange and gold $306. 4 billion (31 December 2011 est. ) $291. 6 billion (31 December 2010 est. ) Debt external $397. 3 billion (31 December 2011 est. ) $359. 4 billion (31 December 2010 est. ) Stock of direct foreign investment at home 130. 3 billion (31 December 2011 est. ) $127 billion (31 December 2010 est. ) Stock of direct foreign investment abroad $190. 4 billion (31 December 2011) $164. 8 billion (31 December 2009) Exchange rate South Korean won (KRW) per US dollar 1,107. 3 (2011 est. ) 1,156. 06 (2010 est. ) 1,276. 93 (2009) 1,101. 7 (2008) 929. 2 (2007) Fiscal year calendar year Turkey Economy overview Turkeys largely free-market economy is increasingly driven by its industry and service sectors, although its traditional agriculture sector still accounts for about 25% of employment.An aggressive privatization program has reduced state involvement in basic industry, banking, transport, and communication, and an emerging cadre of middle-class entrepreneurs is adding dynamism to the economy and expanding production beyond the traditional textiles and clothing sectors. The automotive, construction, and electronics industries, are rising in importance and have surpassed textiles within Turkeys export mix. Oil began to flow through the Baku-Tbilisi-Ceyhan parentage in May 2006, marking a major milestone that will bring up to 1 million barrels per day from the Caspian to market.Several gas pipelines projects as well as are moving forward to serving transport Central Asian gas to Europe through Turkey, which over the long term will help address Turkeys dependence on imported oil and gas to meet 97% of its energy needs. After Turkey experienced a severe financial crisis in 2001, Ankara adopted financial and fiscal reforms as part of an IMF program. The reforms strengthened the countrys economic fundamentals and ushered in an era of strong growth averaging more than 6% annually until 2008.Global economic conditions and tighter fiscal policy caused GDP to contract in 2009, but Turkeys well-regulated financial markets and banking system helped the countr y weather the global financial crisis and GDP rebounded strongly to 8. 2% in 2010, as exports returned to normal levels following the recession. Turkeys public sector debt to GDP ratio has fallen to roughly 40%. keep strong growth has pushed inflation to the 8% level, however, and worsened an already high current account deficit. Turkey remains dependent on often volatile, short-term investment to finance its large trade deficit.The stock value of FDI stood at $99 billion at year-end 2011. Inflows have slowed considerably in coruscation of continuing economic turmoil in Europe, the source of much of Turkeys FDI. Further economic and judicial reforms and prospective EU membership are expected to pressurise Turkeys attractiveness to foreign investors. However, Turkeys relatively high current account deficit, uncertainty related to monetary policy-making, and political turmoil within Turkeys neighborhood leave the economy vulnerable to destabilizing shifts in investor confidence.GDP (purchasing power parity) $1. 026 trillion (2011 est. ) $981. 2 billion (2010 est. ) $906. 9 billion (2009 est. ) notedata are in 2011 US dollars GDP (official exchange rate) $763. 1 billion (2011 est. ) GDP real growth rate 4. 6% (2011 est. ) 8. 2% (2010 est. ) -4. 7% (2009 est. ) GDP per capita (PPP) $14,600 (2011 est. ) $13,800 (2010 est. ) $12,900 (2009 est. ) notedata are in 2011 US dollars GDP composition by sector agriculture9. 3% industry28. 1% services62. 6% (2011 est. ) Population below poverty line 16. 9% (2010) Labor force 27. 3 million noteabout 1. 2 million Turks work abroad (2011 est. ) Labor force by occupation agriculture25. 5% industry26. 2% services48. 4% (2010) Unemployment rate 9. 8% (2011 est. ) 12% (2010 est. ) noteunderemployment amounted to 4% in 2008 Unemployment, youth ages 15-24 total25. 3% male25. 4% female25. 1% (2009) Household income or consumption by percentage share lowest 10%2. 1% highest 10%30. 3% (2008) Distribution of family income Gini in dex 40. 2 (2010) 43. 6 (2003) Public debt 42. 4% of GDP (2011 est. ) 43% of GDP (2010 est. ) otedata cover central government debt, and excludes debt instruments issued (or owned) by government entities other than the treasury the data include treasury debt held by foreign entities the data exclude debt issued by subnational entities, as well as intra-governmental debt intra-governmental debt consists of treasury borrowings from surpluses in the favorable funds, such as for retirement, medical care, and unemployment. Debt instruments for the social funds are sold at public auctions. Inflation rate (consumer prices) 7. 8% (2011 est. ) 8. 6% (2010 est. ) Central bank discount rate 5. 25% (31 December 2011) 15% (22 December 2009)Commercial bank prime lending rate 16% (31 December 2011 est. ) 19% (31 December 2010 est. ) Stock of domestic credit $573. 8 billion (31 December 2011 est. ) $496 billion (31 December 2010 est. ) Market value of publicly traded shares $306. 7 billion (31 Dece mber 2010) $225. 7 billion (31 December 2009) $117. 9 billion (31 December 2008) Agriculture products tobacco, cotton, grain, olives, sugar beets, hazelnuts, pulses, citrus livestock Industries textiles, food processing, autos, electronics, mining (coal, chromate, copper, boron), steel, petroleum, construction, lumber, paper Industrial production growth rate 9. 2% (2011 est. Current Account Balance -$71. 94 billion (2011 est. ) -$47. 74 billion (2010 est. ) Exports $133 billion (2011 est. ) $120. 9 billion (2010 est. ) Exports commodities apparel, foodstuffs, textiles, metal manufactures, transport equipment Exports partners Germany 10. 1%, UK 6. 4%, Italy 5. 7%, France 5. 3%, Iraq 5. 3%, Russia 4. 1% (2009 est. ) Imports $212. 2 billion (2011 est. ) $177. 3 billion (2010 est. ) Imports commodities machinery, chemicals, semi-finished goods, fuels, transport equipment Imports partners Russia 11. 6%, Germany 9. 5%, China 9. 3%, US 6. 6%, Italy 5. 5%, France 4. 4%, Iran 4. 1% (200 9 est. )Reserves of foreign exchange and gold $96. 05 billion (31 December 2011 est. ) $86. 08 billion (31 December 2010 est. ) Debt external $313. 6 billion (31 December 2011 est. ) $290. 7 billion (31 December 2010 est. ) Stock of direct foreign investment at home $98. 98 billion (31 December 2011 est. ) $86. 98 billion (31 December 2010 est. ) Stock of direct foreign investment abroad $18. 63 billion (31 December 2011 est. ) $16. 88 billion (31 December 2010 est. ) Exchange rates Turkish liras (TRY) per US dollar 1. 668 (2011 est. ) 1. 5028 (2010 est. ) 1. 55 (2009) 1. 3179 (2008) 1. 319 (2007) Fiscal year calendar year

Biblical Worldview Essay Essay

Genesis 1 11 recounts the story of the Creation of the heavens, earth, and mankind, the fall of man into nether man, and matinee idols received covenant with Moses. From these chapters in Genesis, some of the questions of life are answered for us. We learn whether there is a theology, where we came from, how to tell right from wrong, and what our relationship with perfection should be. Genesis 1 11 sets down an early guide for us on how we should live our lives to accolade graven image, how we croupe learn from past human errors, and how to deepen our relationship with idol, all of which can help to shape our worldview.Right away in Genesis, we learn the story of creation and that God exists and created the heavens, earth, mankind, and all of the creatures that live on earth. Genesis 127 shows that life was created by God, stating So God created mankind in his own image, in the image of God he created them male and female he created them (NIV). This helps us learn right a way the relationship to God that we have. God created us in His image and created us to be perfect. God also, however, gave us the ability to sin by giving us free will.Genesis 51-32 shows again that man was created by God and shows that man descended from Adam and Eve, even listing the descendants and how long they lived. By showing how God created life, man, and all the creatures on earth, Genesis helps us to understand how we should relate to Him and how we should view His creation. God created perfect humans and God created a perfect world. But He also left the ability for us to choose whether we remained perfect.One thing we definitely learn from the story of certain sin in Genesis is that our God is a loving God. Once Adam and Eve had eaten the forbidden fruit, God very easily could have taken with(p) them down and fixed mankind all over again. Instead, God allowed Adam and Eve to live on, casting them give away from the Garden of Eden in Genesis 323. briefly after this, we also read the story of Cain and Able, with Cain killing his brother Able. God again does not strike down the sinner, scarcely choses to again cast Cain out from the land in which he was living. And while God could have chosen to punish Cain bymaking it so that he could not have children, God was loving in allowing Cain to reproduce with his wife and also allowing Adam and Eve to reproduce again, giving them another son to replace Able.God showed love by not being too harsh on the sinners. This goes helps us to form our view of God. It shows us that God is not just a loving God, but He is also a benevolent God also. Allowing mankind to carry on even after such heinous acts instead of starting over again with a more perfect species shows us that our God is a great God and we should strive to live a life that will honor His love and forgiveness.As we read further along into Genesis, we see the lineage from the time of Adam until the time of Noah. We see that sin has started to ru n rampant in the world before Noahs time. But we also learn in Genesis 69b that Noah was a righteous man, blameless in his generation Noah walked with God (NIV). This is to say that Noah was following the pathway set down before him to live a life honoring God. Because Noah was living in this way, God part withd Noah. God would broadcast a great flood to earth to destroy all of mankind. God, however, made the first covenant with Noah, saying that because of how they lived their lives, He would spare them from the flood and allow them to abide mankinds rule over the earth. This shows us not only that there are repercussions for our sins, but that God also will love and spare those who are living in a way that honors Him.Because Noah and his family were righteous, God made another covenant with them, showing them a rainbow after the flood and making the obligation to never bring such destruction upon His people again. This shows us the relationship that God had with us as humans a nd the value that God put in promises. It also shows what God was willing to do to our civilization as a punishment for not living a righteous life that honored Him. Although God made the covenant to never bring this destruction upon us again, we need to know the power of God and what He could do to us if He wanted. aft(prenominal) the great flood, we see the blood lines of Noah and his family. Genesis then turns its attention to the Tower of Babel. Mankind was building a tower, hoping that it would be able to reach to heaven. But when God saw this, He decided that His people would become too content and may try tomake things too easy for themselves. He therefore created unlike languages for all of His people to speak and spread His people all around the earth. God wanted civilization to have many diverse roots and many different stories. If we were to flourish as a people, we would need to be able to spread our wings. This was the start of many different civilizations that still e xist in our world today. We learn that God doesnt want us to have one story from which to learn, He wants us to have many stories from which we can learn different lessons.Genesis 1 11 gives us the first guidelines for what we can expect from God and how we should try to honor Him with our lives. We learn that our God is a loving and forgiving God, that we learn that God created us in His image, that God wants us to rule over the earth, that God will spare those whom He thinks are living a life to honor Him, and that God created many different civilizations from which we can learn many different lessons. Genesis 1 11 is a great start to learning more about ourselves, learning more about God, and learning more about how we should view this world with which God has blessed us.

Gustav Vassa the Book

Gustav Vassa Plot abbreviation Gustavus Vassas was born Olaudah Equiano in the African country called Essaka in 1745. He was the youngest son of seven surviving children and was very close to his m other. He describes a glad childhood during which he l arrive ated as all his tidy sum did to work hard. He is kidnapped and taken as a slave while st laid up(predicate) very young and soon finds that he has a talent for the ocean and for trading. By be very frugal, he is able to save enough to buy his independence after only a few years, though his compass initially refuses to honor their agreement for the sale.He does gain his freedom and soon returns to the sea, seeing there a greater opportunity for financial gain than any other he can find. He spends his time also in pursuit of an acceptable religious affiliation and eventually finds himself ready to become a missionary. Gustavus Vassa Summary and Analysis Gustavus Vassas was born Olaudah Equiano in the African province called Essaka in 1745. He was the youngest son of seven surviving children and was very close to his mother. He describes a happy childhood during which he learned as all his pile did to work hard.He recalls little of any true religion though he describes briefly round ceremonies in which dancing and feasting were important. He write that his people were circumcised, one of al closely(prenominal) similarities to the Jewish religion. Chapter three begins when, at age eleven, Gustavus and his sister argon exclusively at their house while the adults worked at their agricultural pursuits. While alone, they are kidnapped by slavers. They are soon separated and Gustavus is sold to several masters for divers(a) reasons over the next six or seven months. He encounters his sister briefly during that time exclusively notes that she was soon taken away and he neer saw her again.At the end of those months, Gustavus was taken to the coast where he is put aboard a slave embark. He promptly f aints. When he wakes, he asks if the strange look people aboard are overtaking to eat him and is reassured that he wont be eaten. He remains on that ship for several days until a new ship arrives. He says that the whites aboard were happy to see the other ship and those who, like Gustavus, had never seen a ship in motion nether the power of sails were convinced it was magic. In chapter three, Gustavus is initial taken to Barbados where he is among the few who arent sold.He is then sold to a plantation owner in Virginia exactly corset only a short period of time before being bought by a public named Michael Henry Pascal who intends him as a gift. At that time, Gustavus is called Jacob but Pascal refuses to call him such and renames him Gustavus. On the pilot to England aboard Pascals trading ship, Gustavus meets a young educated white boy named Richard Baker who sees bypast the bondage issue and becomes friends with Gustavus a situation that lasts until Richards death. Gus tavus spends about two years in England, mostly traveling by ship with his master.He dialogue of the considerateness of the people especially two women named Guerin who care for him at various times while his master is away. In chapter four, Gustavus talks about his emerging self-confidence and his waning fears. In 1759, Gustavus has learned about Heaven and requests baptism. In February, he is baptized at St. Margarets Church in Westminster. Over the coming months, Gustavus is involved in some(prenominal) battles as the French and English clash. Eventually, Gustavuss master is released from his go and plans to return to private business. Gustavus has now met a man named Daniel Queen who has taught Gustavus many things.Gustavus regards him as a father pattern and often spends his meager earnings on sugar or tobacco for Daniel. Gustavus plans to go into business with Daniel as soon as he is released from his military service but his master refuses to release Gustavus and inste ad sells him to another ships captain, James Doran. Several of Gustavuss former shipmates vow to redeem him as soon as they are compensable but he is, in the meantime, at Dorans mercy. As chapter five begins, Gustavus writes that his current situation is a punishment for having said he planned to spend an wide day in London on rambling and sport. He is initially forlorn but comes to believe that God gives suffering of this kind for a reason. In the West Indies, Gustavus learns that Doran has sold him to a Quaker named Robert King who says Gustavus will learn to be a clerk. Gustavus learns to handle almost all aspects of his masters businesses which include shipping. King is kind and Gustavus knows that several other plantation owners make offers for Gustavus. When King turns them down, Gustavus always works harder and thanks God for putting him in this place.Gustavus describes the cruel treatment of most slaves and says that he was once threatened by a man who says he will shoot G ustavus and then pay for him. Gustavus offers up the typical arguments in favor of slavery saying that men who say they believe these arguments are fooling themselves. He also points out that those with kind masters and plenty of food work harder and tolerate longer than those who are mis do by, and that those with cruelty as a daily part of life are more apt(predicate) to simply give up and massacre themselves. Gustavus points out that the slave trade is a study in avarice, and that slavers lie and cheat the slaves.He says that if slaves were treated as men they would be faithful, honest, intelligent and vigorous. As chapter six begins, Gustavus says that he could list many more instances of cruelty, but that to list them all would be tedious and disgusting. He is soon given the opportunity to become a sailor on one of his masters vessels and chooses to do so, trading a little to make some profit for himself. He notes that he is anxious to earn coin and that escape and freed om is, of course, the ultimate goal though he wants it to be by honest means.Gustavus prepares to go to Philadelphia with the captain. Gustavuss master hears a rumor that he is going to try to go through away once they reach American but Gustavus points out that hes had opportunities and hasnt done so. His master sees the wisdom of the words, provides Gustavus credit for some unafraids to sell on his own in an effort to earn gold and promises that he can buy his freedom if he earns forty pounds sterling money. He goes on the voyage to America though he is ill treated by the whites who would buy his items for sale.In Savannah, Georgia, he is beaten by a white overseer and left for utter but the captain finds him and with the help of a capable doctor, Gustavus recovers. In chapter seven, Gustavus earns enough money to buy his freedom. His master is initially upset, saying that he hasnt bideed Gustavus to earn the money so quickly but the captain intercedes and Gustavus is freed i n return for forty pounds. Gustavus agrees to another voyage as a freed man for a net and wants to buy bullocks to take back with him for sale but the captain refuses and insists that Gustavus buy turkeys instead.He does so against his wishes and the bullocks all die on the crossing though his turkeys survive. The captain takes ill on the voyage and also dies and Gustavus safely takes the ship to port. Hes offered the captains position but refuses though he agrees to yet another voyage under the new captain, William Phillips, who runs the ship aground. They are stranded on an island for days and then find themselves at the mercy of a crew who picks them up. Phillips sells some of the slaves that had been cargo on the ship and buys transportation system to Georgia with plans to sell the rest, parting here from Gustavus.Its in Georgia that Gustavus reluctantly agrees to perform a burial ceremony for a child and he notes that its the first time he serves as parson. In chapter nine, G ustavus begins working his way toward his goal of reaching London. There, he encounters the Guerins and Pascal and notes that Pascal seems indifferent of the way he treated Gustavus even after being confronted about it. Gustavus begins learning hairdressing as a means of supporting himself and begins studying the French horn and arithmetic.He soon learns that he can earn very little money in this way and decides to go to sea again, this time with a desire to see flop. He hires on as a hairdresser with John Jolly on a ship called the Delaware. He remains with that ship and captain until 1771, seeing and being delight with Turkey but declining the offer there of two wives and eventually parting ways to join Captain William Robertson on the ship Grenada Planter and then on the Jamaica under Captain David Watt. He later ends up on the North Pole, trapped for a period of time by ice.As chapter ten begins, Gustavus continues his travels, going to Turkey for awhile, then London again an d then to Spain. In chapter eleven, he is appalled by the bull baiting and eventually returns to Plymouth. In chapter twelve, Gustavus spends more time with the Quakers and is strike by their actions and their church activities. He wants to become a missionary and says that the rest of his life is to be spent with an eye toward assisting the cause of my more injured countrymen. - Gustavuss legend begins with descriptions of his own people.He notes that they possess slaves that are usually captured in battle or are people among his own tribe who broke specific laws. However, he writes that those slaves are not treated badly. They are required to work, but their masters work just as hard. The slaves are typically given their own house to represent in and the only difference appears to be that those people are not free to leave. He doesnt go into this discussion to any great depth. Though Gustavus couldnt project known the horrors that awaited him aboard the slave ship, he notes that he is immediately afraid.He mentions a fear that hell be eaten, but doesnt explain. It seems likely that his people were among those who commonly told their children that kidnappers were a great deal cannibals. In any case, Gustavus writes that, had he had entire worlds of his own at that moment, he would cede traded them all for the chance to swap places with the lowest slave in his country. Gustavus talks at length about the fact that his people believed in cleanliness and that they were circumcised, and that many of the rituals seem to indicate that the Jewish and the African tribes of that region were related.He quotes a writer who believes that to be true and says the writer indicates that climate is the reason for the dark-skinned appearance of the Africans compared to the traditional light-skinned appearance of the Jews. Gustavus also points out that men with higher degrees of education have discussed the matter and that he isnt the person to answer the question defini tively. As Gustavus writes about his early travels, he seems to flit from one incident to another. He relates the story of a man who got something in his eye and then lost the eye. He talks of being hospitalized for chilblains and small pox.He also mentions a man who saved him from being flogged for fighting with a gentleman, but does not go into any additional details. Gustavus seems to expect that his master is going to simply release him once the military stretching is over and goes so far as to make plans for his future. He admits to being heartbroken upon the completion of his sale to a new master. Its interesting that Gustavus, having encountered so many kind and generous people at this point, has ceased to believe himself a slave. He points out that hes served his master well for many years and has earned nothing for it, and seems to expect that to be sufficient.He has become somewhat educated and expects a slave owner to have a moral responsibility to allow him to leave when he wants. At one point, Gustavus is enamored with a tribe of the Mosquito Coast. He talks at length about their customs, including that they love the color red and that they enjoy their ceremonies. Gustavus seems to enjoy the actions of the people. He also talks of the fact that they seem similar to his own family of his childhood. Important People Gustavus Vassa Born Olaudah Equiano and sometimes called The African, he was born in the African province of Essaka is 1745.Gustavus says that hed been given another name in the early days of his slavery and had initially refused to answer to the name Gustavus, but eventually gave in. He is an intelligent man and adept at trading. His services are coveted because he is so capable and hardworking. When hes purchased by a master who has land and shipping ventures, Gustavus wants desperately to go to sea. Hes learned much about shipping and knows that he has the potential to make enough money there to buy his freedom. He accomplishes saving that money in a matter of only a few years, though there are some pitfalls along the way.When he then asks his owner to release him, the owner initially refuses but is convinced by an employee a ships captain who has taken a liking to Gustavus and prevails on the mans sense of fair play. Gustavus loves to learn and devotes as much of his time as possible to learning a variety of things ranging from the Bible to the French horn. He says that he hates to be idle and will take on some new endeavor rather than spend evenings with nothing to occupy his hands and mind. He comes to love London and Turkey as his two favourite(a) destinations among all those he visits.Gustavus finds an array of friends during his travels and learns from many of them. He seems often overly trusting and occasionally finds himself in trouble when he trusts someone to make good on a promise, especially with regard to money. He says that there are those who defend slavery and that they are delusional in their arguments. Gustavus eventually applies to become a missionary. Themes The Desire for Freedom The desire for freedom is an overriding theme and the slaves who wrote these stories are each determined to find freedom, regardless of the cost.This can be seen clearly in the fact that slaves are brutally beaten if caught in a runaway attempt, yet many continue to take the chance. One of the best examples of this desire for freedom is seen in Harriet Jacobs brother, William. William has been purchased by Harrietts lover and the father of her children, Mr. Sands. Mr. Sands is subsequently elected to Congress and takes William along with him. William has the opportunity to travel through many states and to see many things, and its noted that Mr. Sands is not a cruel master.Despite the fact that William is treated well with enough to eat and has the promise of eventual freedom, he seizes an opportunity to run away. In his case, theres little cause for worry about reprisal because Mr. Sands i snt cruel and isnt likely to track him down. By contrast, Harrietts Uncle Benjamin runs away, is captured and brought back where he is treated severely, and let off runs away again. In the case of Gustavus, he had a master who was willing to allow him time at sea where he was able to make money on his own, but spent a great deal of money to buy his freedom.This willingness to work for many years at jobs in addition to their steady tasks is another common theme in the quest for freedom and those who achieve that freedom are often then working to buy their family. Style side Each of the stories is written in first person from the perspective of the author. It should be noted that three of these have two different names. For example, Gustavus Vassa was named Obaudah Equiano at birth and was later named Gustavus Vassa by a master. Because Gustavus used that name more frequently than the name given to him by his parents, he is referred to as Gustavus throughout the story.Fredrick Doug lass is a well-known name, though he was born Fredrick Augustus Washington Bailey. He took the name Douglass upon his arrival in the free states of the north, though he insisted on retaining his first name as some link to his true identity. For the sake of familiarity, he is referred to throughout this text as Fredrick Douglass. The same is true in the case of Harriett Jacobs who is writing as Linda Benton, and this author is referred to as Harriett Jacobs throughout the text. It should be noted that Jacobs admits at the beginning of the story to having changed the names of some of the people in her book.In fact, research shows that she changed many of the names and it therefore seems curb that she would have changed her own name for the purposes of the story. Writing in first person seems the only possible option available to each of these authors because the stories are presented as factual events in the lives of each. Tone The story is written in a straight-forward manner but i t should be noted that there are some graphic scenes that whitethorn be offensive to some readers. They are, however, a part of the history of these people and it seems appropriate that they should be presented.For example, Gustavus Vassa describes the cruelties visited on the slaves of the Jamaican Islands. Those people were routinely beaten but the tortures often took the form of tying them in impossible positions where they were at the mercy of elements and creatures. In the case of each, the stories of separations of family members are a common theme and will likely touch the reader. Its interesting to note that all three of these use words that may not commonly be associated with people of little formal education.In most parts, the meanings of words are easily discerned but it should not be assumed that the level of writing is that of an uneducated person. Of the four stories, the messages of all are aptly conveyed but it seems that Harriett Jacobs story has a more personal sla nt, possibly because her story is of a more personal nature and involves her family and friends on a deeper level whereas the others, especially Gustavus Vassa, tells more of his travels and how other people treated him. The tone is often hopeless and a sensitive reader may find himself feeling pity for those involved.

Research Method Essay

1. What is the problem statement in the following situation?Employee LoyaltyCompanies benefit through employee loyalty. Crude downsizing in organizations during the recession impoverished the loyalty of millions. The economic benefits of loyalty embrace lower recruitment and training costs, higher productivity of workers, customer satisfaction, and boost the morale of fresh recruits. In do that these benefits may not be lost, some companies, while downsizing, try various gimmicks. Flex leave, for instance, is one. This helps employees receive 20% of their salary, plus employer-provided benefits while they take a 6-12 calendar month sabbatical, with a call option on their services. Others try alternatives like much communication, hand-holding, and the like.Problem statement. How can employee loyalty be maintained during periods of downsizing?2. For the following skid titled Sleepless Nights at Holiday Inn (published in Business Week and adapted here) a. Identify the problemb. Deve lop at least quad hypotheses.Sleepless Nights at Holiday InnJust a few years ago, Tom Oliver, the Chief Executive of Holiday Hospitality Corp., was struggling to compare among the variety of facilities offered to clients under the Holiday flagship the Holiday Inn Select designed for business travelers, the Holiday Inn Express used by penny pinchers, and the Crowne center of attention Hotels, the luxurious hotels meant for the big spenders. Oliver felt that revenues could be quadrupled if only clients could variousiate among these.Keen on developing a viable strategy for Holiday Hospitality which suffered from leaf blade confusion, Tom Oliver conducted a customer survey of those who had used each type of facility, and found the following. The consumers didnt have a clue as to the differences among the three different types. Many complained that the buildings were old and not properly maintained, and the quality ratings of service and other factors were also poor.Furthermore, wh en word spread that one of the contemplated strategies of Oliver was a name change to say the three facilities, irate franchises balked. Their mixed messages did not help consumers to understand the differences either.Oliver thought that he first needed to understand how the different classifications would be important to the several(prenominal) classes of clients, and then he could market the heck out of them and greatly enhance the revenues. Simultaneously, he recognized that unless the franchise owners fully cooperated with him in all his plans, mere face lifting and forward motion of customer service would not bring added revenues.Problem StatementHow can brand awareness be brought about to increase the revenues of Holiday Inn?Hypotheses1. The more differentiated the building facilities, the more the brand awareness.2. The more differentiated the maintenance of the facilities, the more the brand awareness.3. The more differentiated the services to the clients, the more the bra nd awareness.4. secern building facilities, maintenance, and service will influence brand awareness only if the Franchise owners cooperate and actively promote the idea of differentiation. If they dont, no issue forth of differentiation of the three independent variables will help clients to understand the differentiation (increase brand awareness).

Christianity Essay

Trade and merchandisers play a major role in Christianity and Islam from their origins to the 1500s, and counterbalance though both had similar attributes yet differed as well. Christians and Islam both had a negative appearlook, both had their religious viewpoints, as well as both changed their views towards trade. scorn this, Christianity began to open up to trade, even tolerating it, while Muslims became stricter on merchants and trade. Furthermore, Both Islam and Christianity had a negative attitudes for instance, in the Bible, Jesus p mountain rangees to his disciples how a rich man will neer reach heaven. This is due to their behavior, for merchants argon greedy and lying community whose only content is to get rich, which goes against Christianitys belief. Moreover, Thomas Aquinas explains how unfair and unjust merchants are for they price their goods higher than what the product actu exclusivelyy cost. By the tone of the enrolment as well as how he explains trade and it s problems show his dislike. Likewise Ibn Khaldun describes merchants as weak, and disgusting men and how they negatively go the government. His tone is harsher however, which indicates his anger towards the merchants. Merchants constants rip-off of the people by selling their goods at a high price as well s giving their all their goods to those who pay more.The Islamic Court in Ankara had to deal with a case in which merchants would give all their cotton to a single person, if they pay extra high price in addition to the merchants high prices. Document seven contains quotes from that of the people who have complained about the merchants. Both Christianity and Islam share the same pessimistic attitude towards merchants and trade because of their behavior and how they sell their goods. Anyways, I would have like to see a document from a merchant, it would have help me better indicate if merchants were really sneaky and unfair as spoken in the documents given. Some looked to the Chri stianitys and Islams beliefs, to determine their view on merchants and trade for both religions impacted all their followers. In the Bible, Jesus says that no rich man will ever reach heaven. The small passage comes from the bible, which heavily every Christians view. Which is also why he emphasized how the quote from the bible and how it fit into the situation.The Muslim Quran also circled around truth and truthfulness which the Muslims and Muslim merchants had to follow if they wanted to reach paradise. Thomas Aquinas who was also heavily influence by Christianity, and its bible, for he states a line out of the bible. He indicates the biblebecause he knows that adding the bible would persuade many of the Christians which was his intended target audience. Reginald, a monk of Durham also says explains the life of Godric and how he became a successful merchant, only to become tired of it and soon devoted himself to God giving away all his possessions to the poor. Reginalds attended audience was Christian followers, he also helps justify document 1 in Godric went from rich to poor in order to devote himself to god. I would have liked a document from a person not Christian or Islam because it would have allow me to understand how much both religions influence the views of its subjects. Despite the similarities Christianity religious views seem to earlier negative and stricter than the Muslims were lighter and positive. Merchants and trade in the eyes of Christianity and Islam began to change significantly overtime.Ibn Khaldun says how beneficial the merchants are to the capital, for they buy goods in one area, only to sell at a higher price in an area in demand. Which the Quran also depicts, however it encourages trade as long as it is fair and truthful. Yet Ibn Khaldun gives us evidence of laws which were established in order to control merchants behavior. In addition, document 7 shows how the Islamic court had power over merchants and could affect their behav ior as well as. Unlike Islam which began to become stricter, Christianity began look towards it positively, such as, letter C of document 6 describes an order being canceled for English wool, and the consumer seemingly brings god name into it, which suggest the consumer does not think of trade conflicting with Christianity. Which letter A also identify for both letters show how the merchants goal is to make a profit, and they see no problem with. In conclusion, Christianity and Islam attitudes towards trade and merchants were similar in certain aspects as, of the beginning both viewed it negatively, and on a religious level. However, both began to change their views on trade and merchants. For Christianity began approving trade, while Islam began harsher treatment towards trade and merchants.

The Societal Effects of Totalitarian Control in 1984

The main goal of Totalitarian administration is to limit and regulate every aspect of public and private life. George Orwells novel, 1984, illustrates a order of magnitude deficient in granting immunity and expression. His fictional society in 1984 stands as a metaphor for a Totalitarian society. Communication, personal beliefs, and national loyalty argon retardled by the inner party which governs the people of Oceania in order to keep society from rebelling. Oceania, where main character Winston Smith lives, is ruled by the INGSOC. The Inner Party, fancyled by bragging(a) Brother, dictates several aspects of the peoples life.The Inner Partys aim was to make any other alternative thinking a thought disgust or crime think . The Inner Party only allows haggle that empower or respect the Inner Party and Big Brother. An example of the control the Inner Party has over the people is found in Symes dialogue on page 46, Its a beautiful thing, the destruction of wordsYou havent a rea l appreciation for , WinstonDont you attain the whole aim of is to narrow the range of thought? As a society, Oceania has been brainwashed to use only words or phrases that empower and respect INGSOC .Syme, who rewrites the dictionary using and erases oldspeak, understands the purpose and follows the rules because he has been trained. The overall concept of is designed to control personal beliefs of the citizens by limiting their form of expression. Controlling the communication fits with the Totalitarian aspects of governing. During the Cold War, communication was stifled between the States and the Soviet Federal. George Orwell envisioned the privation of communication could possibly result to total dominance and control of the people.The concept of also controls the personal beliefs of the citizens and promotes Totalitarianism by limiting the form of expression. The citizens of Oceania were jamd to construct long days which limited self expression because they were too tired to do anything else. For example, the citizens had to wake up and do physical jerks and had to work long hours for their governing jobsThrough and Thought Police, the Totalitarian system of regime in 1984 prevents the people from even thinking against the government and having personal beliefs.Surveillance is placed on the people and they are forced to comply. Early in the novel we see it was conceivable that they watched everybody all the time. (6) In chapter two, Winston can hardly remember his childhood because he was been warped and controlled by Big Brother. For example, in 1984 every household is equipped with a giant television that is constantly playing propaganda. The telescreens also supervise the behaviors and were there to constantly motivate the citizens that BIG BROTHER IS WATCHING. Newspapers and media are censored to keep the government seemingly victorious.During the Cold War, forms of literature were heavily censored by the Soviet Union and by the United State s to prevent military information from falling into the wrong hands. During the Cold War, the German Democratic Republic in East Germany tried to force Communism on as many people as possible by completely enclosing the city of West Berlin for more than a depict century. The Berlin Wall, constructed in 1961, served as a physical barrier and furthermore hindered Europeans freedom of self expression because the people did not have the freedom to do what they wanted.George Orwell saw this was happening and magnified the possibility of an over controlling government and presented this to the extreme in the novel 1984. The ultimate strength of the Totalitarian society is presented at the end of the novel when Winston Smith submits to Big Brother by means of torture in Room 101. (212) The Inner Party did not dish out about the well being of Winston. All Big Brother wanted was loyal citizens. If a citizen did not follow accordingly they would be vaporized. We see a change in Winston as a result from the pressing Totalitarian government. Throughout the novel, Winston was against his government.For example, he kept a diary, made love to Julia, and conspired against the government with Obrian. However, at the end he has become fixed to support and love his leader through learning, understanding, and accepting. (232) By the end of the novel, Winston does not even whole tone anything for Julia. He now understands the smile Big Brother always wears. He had finally won the victory over himself. He loved Big Brother. (245) The government of Oceania has gone to great lengths to change Winston, and as always, they got a oppressed loyal follower . Orwell wanted to warn society of the effects of an strict overbearing government.harmonize to Orwell, the Totalitarian approach of government will not bow down to any one and will eventually die hard who ever gets in its path. America attempted to stop the spread of Communism through agreements and compromises. For example, the N ational protective cover Council Report 68 (NSC-68) was a report issued by the United States National Security Council on April 14, 1950. President Truman signed the document to emphasize military over diplomatic action to defend the Western Hemisphere from the Soviets. 1984 was written in 1949 and represented George Orwells interpretation of a possible society in the near future.During the 1950s, the Soviets painted a commie utopian society where everyone was equal, despite financial office or background. For example, Carl Marx wanted to improve the condition of every member of society without distinction of class. However, Orwell wanted us to realize a society under Communist control was far from a perfect utopia Orwell referred to it as a dystopia. Successfully, 1984 exposed the lifestyle and tradition of a Totalitarian government. Totalitarian politics will dominate communication, personal beliefs, and national loyalty despite the equal utopia appeal created by the Communists .Works Cited Edgar R. Robert, Neil J. Hackett, George F. Jewsbury, Barbara Molony, and Mathew S. Gordon. Civilizations Past and Present. Vol. 2 from 1300. New York Pearson Longman, 2008. Print. Orwell, George. 1984. New York Harcourt Inc, 1950. Print. Seppala, Tuna. War, Media, and International System Propaganda and security review in the Image Wars- Constructing and Maintaining the Hierarhical International System Presented at the annual meeting of the International Studies Associations, Hilton Hawaiin Village, Honolulu, Hawaii. 5 March 2005 http//www. allacademic. com/meta/p70248_index. html.

Why are some parts of China so rich while other parts are so poor?

In China at that place be so m each a(prenominal) places where nearly commonwealth are sleeping in beggary, living on streets and begging for m championy everyday. But so many race were rich as well, the extremes from rich to unretentive are in the same surface area. The main yard for the different economy in China is that the country is communistic, under the control of Jiang Zemin. Communist nub that the country runs by paying each person the same wages even if they are a much(prenominal) than authority over people and are higher up the hierarchy. Some families were in addition very poor because they would pay off a lot of infantren, which they could not afford to bring up.There is a lot of poverty in boorish areas, whilst many people in cities are getting richer. In China there are around 1. 28 billion people, there are about 14 million inert people in urban areas and there are about 120 million in rural areas. This manner that something must be wrong about Ch ina and why so many people can not get jobs. It is wrong to say that the main cause of the situation of people organism so much rich in some areas than in others go back only to 1976. Things ilk the incident at Tiananmen Square in 1989 where thousands of innocent people died and got mowed down by machine guns. through with(predicate) this many people were on a hunger strike where many people starved and so people got ill and couldnt afford medicine and poverty was the inevitable which was the cause of Deng. In China when monoamine oxidase was emperor he had many ideas and most of them failed or did not help him get out any competition. Some of his ideas were The great startle forward and 100 c flowers campaign. In the great leap forward Mao told the peasants to perform steel to make their industry more successful. But this failed because the steel was weak and the crops had been forgotten about and the dry out weather make the country form a famine.The 100 hundred flowers cam paign in 1957 was meant to let the peasants have a say in the government and new ideas, Mao said Let a hundred flowers bloom which was meant to let new ideas bloom. But this didnt happen, all that happen was that Mao new who his rivals were put in put aside and the campaign ended. After this people where even more afraid of speaking out against Mao, which meant they could not mitigate their lives. When China was under control of the Emperors there were people called the Mandarins who were the Emperors local officers that taxed and tortured people.At this time 80% of people were peasants and they engagemented very hard and tried to grow rice or millet. Population growth was a occupation because in 1750 there were 100 million people and at the end of the 19th vitamin C there were 400 million people. This obviously made families poor and not enough food for everyone, which means that poverty and famine became a problem. By 1962, however, Mao began an offensive to purify the fictit ious charactery, having grown increasingly sickening about what he believed were the creeping capitalist and antisocialist tendencies in the country.As a hardened veteran revolutionary who had overcome the severest adversities, Mao continued to believe that the material incentives that had been restored to the peasants and others were corrupting the masses and were counter revolutionary. To arrest the alleged(prenominal) capitalist trend, Mao launched the Socialist Education Movement, in which the primary emphasis was on restoring ideological purity, prevail fusing revolutionary further into the party and government bureaucracies, and intensifying class struggle.The Cultural Revolution saw fast industrial growth mainly because unlike the rural sector after the Great Leap Forward, the urban sector still concentrated upon heavy industries. The Cultural Revolution did have an adverse impact on Chinas foreign trade however, as trade was attacked as humiliating to China and as worshi pping things foreign. Throughout the hitch of the Cultural Revolution, China in effect cut off from the rest of the world. However, it still conducted trade dealing with other countries it did not recognise, precisely only on a limited scale and with very teeny-weeny growth.Until 1976, three key elements were central to Maos economic policy, these were the collectivisation of land, centralised control over the accumulation and reinvestment of capital, and conjure ownership of major industries and banks and entailing strict limitations on foreign capital and external economic factors. Land clear up was the first step in the collectivisation of rural areas. However, the redistri thation of land away from the landlords and rich peasants to smaller nonpublic holdings was not as successful as Mao initially hoped.Private farms were not a part of Socialist policy, and new divisions, exploitation and uneven land ownership showed signs of re-emerging. During the 1950s, therefore, coll ectives were established that enabled Mao to control the means of production even further, and were given quotas to supply the state with a portion of their output at pre-determined prices and also acted as pools of labour that could construct irrigation networks, roads and railway tracks. Collectives also enabled the generation of a gross direct surplus that paid for education and health services.Mao felt that industrialisation was still too thick and in a bid to quicken its pace, collectives were further organised into peoples communes under the guise of the great leap forward in 1958. Peasants were directed to build roads, dams and other projects relating to improving Chinas infrastructure. Millions of backyard furnaces appeared, producing mainly low quality pig weigh and steel of little use for anything. Cotton was also planted throughout China at the depreciate of staple crops but had little success because of wide climatic variations.This futility came at the expense of agriculture, and resulted in far-flung famines and illness. As for the industrial sector, large-scale industrial enterprises were allowed to operate independently from the state for a fiddling plosive of time after liberation. But from the early 1950s on, the nationalisation of industries commenced China made a rationale that every couple could only have one child and this helped the amount of people and helped families with money. One of the short term problems with Dengs one child policy is the lack of girls.Due to population growth in China, Deng view up a one child policy, this meant that couples are only allowed to have one child betwixt them. Deng made a graph of the population growth for each family if they had 1, 2 3 or quadruple children. The graph concluded that for China to have plenty of food and wealth families were only allowed to have one child. Families then chose to have baby boys and not girls, reason for this is mainly long term. Boys have been favoured over girls for most of Chinas history, so when only one child was allowed per family boys were an obvious choice.But people cant choose what the sex of their child will be, so why are there so many boys? Is there a medicine that stops women from having girls, no the reason is much more sinister. If a baby girl is born they are thrown in with the rubbish or left somewhere to die This is very brutal but it happens all over China. If a women has two children then there is great punishment, even when she is pregnant, they are hale to have an abortion, then they are sterilized and imprisoned. The harsh punishments given is enough to put anyone off having a second child.In 1974 the article in the Peoples Daily it tries to encourage modern attitudes There is still the attitude that women go home to cook meals, feed the pigs and shut up chickens, while men go home to kitty their pipes and wait for food and drink. Some even laugh at those males comrades who help their wives with the housework . When the Chinese people had more than one child it would usually cause money problems because people didnt have enough money, so this made families poor and so they could not help themselves.With the population getting greater and greater more and more people with no money which made the divide between rich and poor bigger. I recollect the reason for China being so different in economy is that the country had been so communist for many years that some people did not have good enough paid jobs and with so many children it was hard to pay for everything. The way that so many people did not have work and that China as a country did badly in exporting and importing, this made people have bad pay and long hours.This situation did not just go back from 1976 because of events like in Tiananmen Square. Deng Xioping is not to blame for the problem of poverty because he tried to help the workers by motivating them, but was just discredited by Mao. I think that that the most important pers on that helped create this problem was Mao because of his ideas and plans that went wrong and that when people tried to speak out and make a point crossways to him he just put them in jail and murdered them, so the Chinese people could not help themselves from him.

Love Is Able to Say Sorry Essay

Love, as in enabling a loving relationship to survive, is all about being able to verbalise reprehensible. In life, no one is perfect everyone makes either big mistakes or small mistakes. There is vigor wrong with making a mistake, but there is something wrong about not admitting it. Thus, dictateing sorry is very necessary in any relationships, especially in romantic love. I have comprehend that, Love means never having to say youre sorry. In my opinion, it is not true, but love, as in enabling a loving relationship to survive, is all about being able to say sorry. Apology is not supposed to be easy to all tidy sum. Why do people consider saying sorry as such challenging endeavor? Almost of the people scrape up that saying sorry is a sign of weakness. Human often has a high consciousness of their self, so they feel like they atomic number 18 in danger of losing their power and status when they say sorry to others.However, if you inadequacy to maintain a relationship, especi ally romantic love, saying sorry is essential since an vindication shows your prize for your ally as well as for yourselves, and you will understand individually other deeply. Firstly, an apology shows your spouse that you kick enough about him and your relationship to be responsible for your hurtful actions. All of us know that obeisance for each other is the very fundamental factor for a long-lasting love. Obviously, if you do not adore him, you never care what he thinks about you, never want to apologize him. Thus, when you say sorry, you show your respect for your partner. As a result, he realizes your love, your sincerity and your respect for him, so he more easily forgives you. guidance Paula says we are learning that saying sorry is about allowing yourself to be vulnerable, which is actually a sign of strength, not weakness. You learn from experience that saying sorry increases peoples respect for you, rather than diminishing it. (www.mprestige.net)Secondly, an apolo gy can clear up a misunderstanding between lovers, so that gradually they understand each other deeply. Everyone all wants and needs to feel safe with the ones that he allows into his inner circle. Not taking indebtedness for wrongdoings makes people seem unsafe or untrustworthy. Surely, when loving ones, it is unavoidable that you will have quarrels, misunderstanding, and whether you have excogitation or not, you hurt your partner. If both of you are intolerant, do not want to belittle yourselves to admit your mistakes, you are destroying your relationship by yourselves.In contrast, if you can admit your mistakes, apologize sincerely each other, misunderstandings among you will be cleared up.Moreover, after mistakes, and correcting them, you will understand mutually more, and get on well with each other, so obviously your relationship will be strengthened. In conclusion, saying sorry is a way of safekeeping your loving relationship survival. Love means being able to say you are s orry and allows you to cause up to whatever behavior it was that warrants an apology( http//inspirationaldaze.blogspot.com.). However, an apology is just powerful when it is made by your money plant and heartiness in right moment, if not, it is fruitless. Thus, dont afraid of saying sorry sincerely to your partner if you make a mistake.

Technical Data Corporation

Harvard business organisation civilise 9-283-072 Rev. December 1, 1987 Th Jeff Parker was 38 socio-economic classs old, and held BS (1965), Master of Engineering (1966) and MBA (1969) degrees from Cornell University. After receiving his MBA, Parker had been employed in a physical body of positions in the investment industry. From 1969 to 1971, he worked for Smith Barney is m This case was prep bed as a give the gate for class discussion rather than to illustrate either effective or ineffective handling of an administrative situation. Copyright 1983 by the chairperson and Fellows of Harvard College. All rights reserved.No bulge out of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any way of life electronic, mechanical, photocopying, recording, or former(a)wise with knocked disc all(prenominal) oer(p) the permission of Harvard Business School. Distributed by HBS quality operate, Harvard Business School, Boston, MA 02 163. Printed In U. S. A. 1 at er ia Jeff Parker lc an Since it was founded, TDC had proved to be a more successful venture than Parker had theme veri uniform when he started the fraternity. By mid-1982, the participations revenues were passning at an annual rate in excess of $1,000,000 and net wampum after taxes were at a $270,000 annual rate. o tb e re technical selective information had been established in November of 1980. The necessary stocks for starting the company had been raised by selling a package of debentures and stock representing 10% of the equity in the company to outback(a) investors for $ vitamin C,000. Parker retained 85% of the company. The outside investors were all active participants in the wed merchandise. pr od uc ed Inter information club supplied a abundant variety of economic info and information work to a broad spectrum of firms. Inter info was a privately-held company with 1981 revenues of roughly $83 million. w ith u tp adept informa tion was a supplier of data analysis operate to the financial community specifically, to participants in the bond trade, including bond traders, bond exchangesmen, pension fund managers and bankers. er m is si on Technical data sess fro m Scribbled at the bottom of the stomach worksheet was Parkers sign estimate of the value of his company. His calculations indicated a range of reasonable values from $5 to 10 million. Parker was roughwhat afraid(predicate) at the magnitude of this amount, apt(p) the firms somewhat down in the mouth start only one and one-half years previously.When TDC was created in November, 1980 the total capitalization of the company was under $cc,000. LA D C us to Jeff Parker, President of Technical information heap (TDC), was going oer some worksheets he had deep prep ard. He was schedule to meet the next sidereal day with Will Hol enumerateer, Chairman of Interdata Corporation. Hollister had asked Parker to discuss a possible investment by In terdata in TDC. Eventually, Hollister had said, Interdata was interested in buying the whole company. m Pu b lis h in g Technical Data Corporation . 283-072 Technical Data CorporationHarris Upham as a fixed in arrange securities salesman. From 1972 to 1975, he was Vice President and Manager of the Corporate Bond Department of A. G. Becker. From 1975 to mid-1977, Parker helped develop a west-coast based bond operation for Loeb Rhoades. In mid-1977, Parker left San Francisco to come to Boston to work for Fidelity Management as a senior, fixed income portfolio manager. At Fidelity, Parker was responsible for managing the fixed income portion of a subject of large pension fund portfolios. Th is Virtually all of the data analysis services embodied in TDCs product had been demonstrable by Jeff Parker.During the period he had been employed as a bond trader and as a portfolio manager, he had written a number of proprietary programs to analyze bond data. In 1980, Parker had purchased an A PPLE II micro-computer. He transferred all the programs he had developed everywhere the years on large time-sharing systems so that they would run on the APPLE. The process of producing the pages to be sent out over the Telerate system was fairly simple. The requisite data were typed into the APPLE by a clerical worker. Then, the individual 2 m Also, TDC had introduced a number of natural uninflected services for use by traders of longterm bonds.By April of 1982, the company had expanded the number of pages of information offered from 19 to 40. in that location were always naked ways to analyze or present data on yields and hurts. at er ia lc Over the year and a half that the business had been in existence, a number of improvements had been made in the basic product. For model, when scratch introduced, the analysis of bond footings, yields and futures prices was updated only once a day. However, Technical Data had recently hired someone to update the data and analysis more frequently, in some cases as a lot as hourly. In the longer run, plans called for continuous updating by computer. n no tb e re pr TDC energised approximately $150. 00 per month per guest for access to its services. This fee was extremely modest in comparison to the other lives incurred by bond commercializeplace professionals. By mid-1982, the company had over d paying subscribers, slimly under 10% of all the Telerate screens in existence. A representative list of customers is tryd in stage 2. od uc ed w Technical Data had the right to send out up to 40 pages of information over the Telerate system. Then, Telerate customers could turn out separately with TDC to buy access to the TDC pages. new(prenominal)wise, the Telerate user could not gain access to the information. ith ou tp er The method of distributing the product was somewhat unusual. The data analysis was sent out over a computer ne bothrk known as Telerate, the dominant distributor of fundamental data (e. g. , prices and volumes) in the bond business. By mid-1982, Telerate had over 6,000 customers, each of whom had a computer terminal linked electronically to Telerates central computer. m is si on fro m The product had several components, all intentional to provide information useful to bond foodstuff traders.For example, one service provided by TDC was an analysis of yield spreads on government securities of diffe bust maturities (e. g. , the difference between the yield available on a short treasury bill and the yield to maturity on a long-term government bond). A description of the basic product is contained in salute 1. LA D C us to Parker left Fidelity in late 1980 to form TDC. The business plan called for the company to develop an information analysis system for sale to participants in the fixed-income securities business. The latter group would include bond traders, fixed-income salesmen, bankers and pension fund managers. Pu b lis h A Brief History of Technical Data Corporat ion in g . Technical Data Corporation 283-072 analysis programs were run to create summary reports useful to traders in the bond commercialize. These reports were in call on transmitted nowadays to the Telerate central computer for transmission over the Telerate system. By mid-1982, TDC had 6 employees, including Parker. Parker was responsible for generating roughly of the ideas about product enhancements or new product launchs. Jody Morse, a Vice President of the firm, was in charge of office operations.Marketing of TDCs products was done on triple levels. prototypal, the Telerate system had trusted pages set aside for advertisements. Also, advertisements were placed without delay in relevant trade journals. The encourage level of marketing entailed direct contact by an employee of TDC on the phone. Possible users were identified and a phone call was placed to describe the product in some depth. Parker employed two people in this capacity. He called them smilers and diale rs. The third level of marketing was done by Parker. Parker actively sought national exposure in the media.He made numerous presentations during meetings of bond market professionals. And, he made himself easily available to reporters for comments on new conditions in the bond markets. By mid-1982, Technical Data had an excellent reputation for delivering a high quality yet inexpensive product which was useful to investors in fixed income securities. Th Telerate had experienced tremendous growth over the past few years. The number of terminals in place was expected to reach 7,000 over the next year and a half. The company was just beginning to expand into the European market.A further complication in defining the size of the dominance market for TDC was that at that place were suppliers of financial data other than Telerate. It was entirely feasible to provide the basic TDC services over other networks. And, perhaps even more burning(prenominal)ly, the scope of TDCs product li ne could easily be expanded so that the potential market would be very large. In the last decade, there had been an 3 is m at er This list shows the approximate distribution of the existing Telerate customer base. However, Telerate had not come close to capturing one hundred% of all the possible consumers of financial data on fixed-income securities. a lc an constitutional no Customer casing -U. S. Banks Brokers Mortgage Bankers savings & Loans Insurance Companies Trading Operations and Money Managers Miscellaneous w ith Defining the market to which TDCs products were directed was somewhat difficult. A narrow definition suggested that the current subscribers to the Telerate system were the market. In turn, the distribution of Telerates customers by type of business is given below ou Telerate Systems, Inc. Approximate % of Total U. S. 20 % 25 20 7 2 20 6 100 % tb e re pr od uc ed tp er m The Market is si on fro m LA D C us to m Pu b lis h in g . 283-072Technical Data Corporation e xplosion in the number of types of securities in which money could be invested stock options, financial futures, bond options, futures contracts on stock market indices were all comparatively new investment media. Investors were hungry for information which would help them deal with the myriad choices among securities, and it was to this market that TDC would provide its services. For example, the company could provide a service similar to its bond market service to investors in common stocks. The dominant supplier of data in the stock market was a company called Quotron.Quotron had over 50,000 terminals around the world as compared with the 6,000 Telerate terminals. TDC could arrange to fail a stock analysis service over the Quotron system on terms similar to those governing TDCs relationship with Telerate. It was also possible that TDC could deliver its current bond-based product to Quotron subscribers. To give some idea of the scope of possible products and distribution media, a copy of the Technical Data corporate charter is provided as face 3. The Competition Th is The company intended in the Fall of 1982 to introduce a brand new service over the Telerate system.Whereas the existing product provided data analysis of longer-term government securities and the related financial futures, the new product would provide similar analysis for short-term financial securities (e. g. , U. S. Treasury Bills, certificates of deposit, and bankerss acceptances). Specialization by investors in the long-term or short-term end of the market suggested that there would not be much overlap in the client base. Both sets of customers, however, were very possible to have Telerate screens already installed as Telerate supplied raw data on securities of all maturities. m Parker had developed a strategic plan for the next several years which called for continued expansion and refinement of the companys current Telerate-based product. at er ia lc Future Plans and Projections an no Parker believed he had a significant advantage over other competitors, given his substantial knowledge of the market. His experience as a bond trader and as portfolio manager was an important asset. tb e re pr However, at least with respect to TDCs existing market niche, TDCs market penetration was limited more by the ability of the company to contact otential customers and to sign them up than it was by direct competition. od uc ed Also, one of the reasons Interdata had contacted Parker was that the company was interested in expanding its data analysis capabilities. homogeneous Telerate, Interdata was known principally as a supplier of raw data. w ith ou tp Indeed, Parker had discovered that Telerate was interested in developing its own analytical products to transmit over its system. It was possible that such products might be directly competitive to those offered by TDC.Parker knew, however, that Telerate would have to build a coply new department to produce analytical program s. Telerate had traditionally only provided raw financial data to the bond market. er m is si on fro m There were many current and possible competitors in the business of supplying data and analysis to the financial community. Some of these competitors were substantially larger in size than Technical Data. LA D C us to m Pu b lis h in g . Technical Data Corporation 283-072 Additionally, TDC planned to diversify absent from Telerate as the sole distribution medium for its products.Specifically, the company was discussing arrangements with Quotron and Radiodata. As ren possess above, Quotron was the dominant supplier of financial information pertaining to the stock market. They were very much interested in performing a similar role in the fixed income markets. And, Parkers firm could provide services to stock investors similar to those provided for bond investors. In particular, Parker and TDC had expertise in some of the recently introduced financial securities options and futures contracts on stock market indices such as the Standard & Poors 500. Th s m Financial Performance In November of 1980, when the company was formed, sales were zero. By mid-1982, sales were running at an annual rate of slightly over $1,000,000. From the day the company was formed to the end of April, 1982, the increment to retained salary was $179,335. At that date, interchange and marketable securities were slightly less than $400,000. Some recent financial descriptions and the associated notes to the financial statements are included as adjoin 5. at er ia ongoing plans called for the introduction of two new package product programs by the Fall of 1982.Parker hoped that introducing a complete line of programs with a common user interface would preempt the market, and would effectively create a breastwork to entry. lc an no tb At Technical Data, Huebscher was in charge of overseeing the complete process of developing new stand-alone software programs. He would write some of th e software himself, and he would assess the attractiveness of programs offered to TDC for resale by outside programmers. e re pr od Parker had recently hired a graduating MBA from Harvard Business School to be a product manager for the software series.Bob Huebscher had been a project manager for a software firm in Boston before entering business school. uc ed w In the last three years, the number of micro-computers being used by investment professionals had expanded dramatically. More generally, during this time period, over 1. 5 million so-called personal computers had been sold which could conceivably run software created by TDC. The introduction in late 1981 of a personal computer by IBM was an important event from TDCs perspective because its customer base was more likely to buy personal computers from IBM than from some of the other firms active in the industry. th ou tp er m is si on TDC was scheduled to introduce in July, 1982 the outset of what was intended to be a broad li ne of financial software. The initial product was a yield calculator, and is exposit in Exhibit 4. The preliminary response in the market to pre-released versions of this product had been overwhelmingly enthusiastic. fro m LA Finally, TDC was in the process of introducing several stand-alone software products. These products were intended to be used by professional participants in the investment community on a personal computer. D C us to Radiodata was a relatively new company.They intended to supply information over the philia part of the FM radio band. The middle part was not used for radio transmission, but could provide a reliable means for contagion data to specially equipped terminals. m Pu b lis h in g 5 . 283-072 Technical Data Corporation The asset requirements of TDC were minimal. In addition to normal office furniture, the company owned a number of personal computers. A fully equipped APPLE II computer, however, only cost $4,000. 00. When TDC had been formed, Parker had arranged to use the office space of a company active in the bond business.In harvesting for free rent, Parker provided the company with the use of his programs. However, in the Spring of 1982, the company had signed a five year lease on new space in a downtown Boston building. The annual rent on the new office was $45,000. In March of 1982, Technical Data had entered into preliminary negotiations with Telerate to extend its contract to distribute its product. The company was attempting to sign a five year contract which would involve TDC paying Telerate a royalty of its Telerate-based revenues. It was very likely that these negotiations would be successfully concluded in the near future.Proforma Revenues and disbursals Th is Parker was in somewhat of a quandry as to how to value the company. Although TDC had been very successful from the start, a great deal of the potential value from operating the company came from future profits. In order to maintain the high rate of growth, th e company would have to develop and introduce new products and sustain a strong marketing program. Parker decided that the outgo way to arrive at an appropriate price for the company was to obtain data on price fee ratios being accorded in the stock market to comparable companies.Then, these multiples could be applied to the expected fee of TDC over the next 12 months to arrive at a price. There were several sources of information on price earnings multiples. Parker had found a report which contained data on companies in the computer services industry. The list was compiled by an investment banking firm called Alex brownness & Sons. 6 m at er ia lc an rating no tb The three sets of revenue and expense forecasts are provided in Exhibits 6, 7 and 8.Attached to Exhibit 6 are estimates of the market shares necessary to achieve the customer and revenue targets in the base case forecast. e re pr od With respect to expense forecasts, Parker took the approach that at close to expenses would be 50% of revenues. Assuming for simplicity an effective tax rate of 50%, the net margin on sales was expected to be 25%. uc ed w The revenue projections were broken down into a number of categories representing specific product line forecasts. In the first year of the forecast period, the bulk of the revenues were expected to come from the current Telerate business. th ou tp er Parker had developed three different forecasts for the revenues and expenses of the firm over the next three fiscal years ending October 31 expected values (base case) optimistic (best case) values and, pessimistic (worst case) values. m is si on fro m LA D C us to The salary levels of the TDC employees depended in part on the level of profitability of the firm. As of April 30, 1982, Jeff Parker was receiving an annualized salary of $125,000. For the six months ended April 30, 1982, the total salary payments of TDC were $126,000. m Pu b lis h in g . Technical Data Corporation 83-072 There were two par ts of the report which were of interest to Parker. The first was a list of some financial data on firms in the computer services industry for the period ending March 9, 1982. The list showed prices, dividend yields and price earnings ratios as well as other related data. The list is attached as Exhibit 9. The second part of the Alex Brown report was a graph showing the relationship between the price earnings ratios accorded firms in the sample and the expected long term growth rates of earnings for each. The graph is reproduced as Exhibit 10.Parker had also compiled a list of data on recent initial public offerings. That is, the data described the financial characteristics of companies issuing stock for the first time. These data are attached as Exhibit 11. Finally, Parker had gathered some more detailed information about some companies in businesses not disimilar to that of Technical Data. Some summarized data on Management Science of America, Quotron, Cullinane Data Base and Monch ik Webber are shown in Exhibit 12. Th is m at er ia lc an no On the other hand, Parker didnt want to give away the company.He had worked hard for years, and this was the big payoff. He and his family had a lot at stake in the negotiations. This was one of the most important decisions he had ever had to make. tb e re pr The final issue confronting Parker was how to talk terms with Hollister and Interdata. He knew Hollister well, and wanted to stay on good terms with him, needless of the outcome of the negotiations. Therefore, he thought he would have to be reasonable in his demands. od uc ed For the purposes of estimating a reasonable displace rate, Parker had gathered some information on the financial markets in April of 1982.These data are provided in Exhibit 13. w ith ou With respect to alternative military rank methods, Parker was interested in seeing if he would arrive at a value different from those estimated by using price earnings ratios if he used discounted cash flow tec hniques. The questions here involved what the cash flows would be for Technical Data, what the appropriate time horizon for fortune telling should be, and what discount rate to use. tp er m is si on There were several issues facing Parker. The first was how to use the information he had gathered above to arrive at a fair price for his company.A second issue was whether or not there was some other way to approach the valuation issue. fro m LA The Meeting with Hollister of Interdata Corporation D C us to m Pu b lis h in g 7 . 8 Th Exhibit 1 is at er ia lc an no tb e re pr od uc ed w ith ou tp er m is si on fro m 283-072 m LA D C us Technical Data Corporation to m Pu b lis h in g . Th at er ia lc an no tb e re pr od uc ed w ith ou tp er m is si on fro m Exhibit 1 (Continued) is m Technical Data Corporation LA D C us to m Pu b lis h 283-072 9 in g . 283-072 Technical Data Corporation Exhibit 2 Technical Data One Federal route Boston, Massachusetts 02one hundred ten 617 482 3341Th is 1 0 m at ACLI Government Securities Aetna Life Insurance Alex Brown & Sons Alliance detonating device Management Allied Corporation American General Armco Bache Halsey Stuart Bankers Trust Bank of America Bear Stearns A. G. Becker Brown Brothers Harriman Cargill Investment Services Chase Manhattan Bank Chemical Bank Chicago Corporation Clayton Brokerage COMARK Conti Commodities Continental Bank Connecticut General Dean Witter Reynolds Discount Corporation Donaldson Lufkin Jenrette Drexel Burnham Lambert Dry Dock Savings Drysdale Securities Ehrlich-Bober & Company Federal Home Loan Bank Federal National Mortgage Assoc.Fidelity Management & look for First Boston First City National Bank, Houston First National Bank of Boston traverse Motor Company Forstmann Leff Associates G. E. Pension GNP Commodities Goldman Sachs E. F. Hutton REPRESENTATIVE SUBSCRIBER LIST Harvard Management Heinold Commodities International Business Machines International Monetary Market Jennison Associates Kidde r Peabody Lehman Bros. , Kuhn Loeb Lloyds Bank Mark Twain National Bank Mass. Financial Services MEG Asset Management Mercantile Bank of Canada Merrill Lynch Mobil Oil Morgan Guaranty Moseley Hallgarten Neuberger Berman Norton Simon Paine Webber Wm.E. Pollock T. Rowe set Putnam Advisory Refco Partners Richardson Securities Scudder Stevens & Clark The Securities Group Shearson/American Express Smith Barney Standard Oil of Ohio distinguish of California State of Illinois State of Minnesota State of Wisconsin Thompson McKinnon Travelers Insurance The Treasury Group Tucker Anthony Union Carbide Wertheim & Co. Wheat First Securities The World Bank er ia lc an no tb e re pr od uc ed w ith ou tp er m is si on fro m LA D C us to m Pu b lis h in g . Technical Data Corporation 283-072 Exhibit 3 TECHNICAL DATA CORPORATION CORPORATE CHARTERTechnical Data is in the business of providing decision pay systems to the professional investment community. Essentially, the company provides products w hich enable investors to analyze data in order to make correct investment decisions. The data which can be analyzed using Technical Datas products are those pertaining to virtually all publicly traded securities. Examples of securities would include U. S. Government bonds, commodity futures, common stocks and options on stocks. For each possible security, the relevant data set would include current and historical prices, volume and open interest. Th is m at r ia lc an no tb e re Correspondingly, there are two methods of distributing Technical Datas products to the final customer. The first is over some electronic communication theory medium. An example would be the Telerate system. Technical Datas customers gain access to the data and analysis by subscribing to certain pages on the Telerate system. There are a number of other competing communications systems, including Quotron and Radiodata. The other distribution method for Technical Data is direct sales of products to consumers. An example would be a software package to be used on a microcomputer to analyze data. r od uc ed w ith ou There are essentially two modes in which the analysis of data can be done using Technical Data products. The first is what can best be described as on-line that is, the data are analyzed as they are (continuously or periodically) updated on the relevant securities market. The second mode of analysis is one in which the data are analyzed without immediate, computerized access to updated information. An example of the latter mode would be an analytical package provided to an investor in the form of a stand-alone software routine.The user of such a package would normally be responsible for entering the relevant data. tp er m is si on fro m The analytical tools provided by Technical Data are designed to provide information deemed useful to investors in making investment decisions in an easily understood format. With regard to format, both numerical and graphical displays are employ ed. LA D C us There are a number of ways in which these data can be analyzed. These include price or volume trend analysis (so called technical analysis) fundamental analysis (e. g. , the pricing of options) and, relative pricing analysis (e. . , the spreads between the yields on various fixed income instruments). to m Pu b lis h in g 11 . 12 Th Exhibit 4 is at er ia lc an no tb e re pr od uc ed w ith ou tp er m is si on fro m 283-072 m LA D C us Technical Data Corporation to m Pu b lis h in g . Technical Data Corporation 283-072 Exhibit 5 Income Statements* division October 31 1981 371,557 20,216 17,139 8,240 417,152 391,773 3 calendar months January 31 1982 201,304 6,262 8,637 655 216,858 207,566 3 Months April 30 1982 241,568 4,557 10,957 1,138 258,220 246,125 6 Months April 30 1982 442,872 10,819 19,594 1,793 475,078 453,691Revenues Subscription Income Equipment Sales Interest some other Total Revenues Note Operating Revenues Costs and Expenses Cost of Equipment Sales Salaries and Wages Other Operating Expenses wage Interest Total Expenses Pre-Tax Income Taxes Th is m at er ia lc an no tb e re pr od accredited 23,025 39,866 Deferred 2,275 10,224 Total Taxes 25,300 50,090 final Income 58,124 59,364 Earnings Before Interest & Taxes 78,660 104,192 Note disparagement & Amortization 9,154 2,724 Note Telerate Royalty 74,598 26,911 Note Rent 0 0 *See the summary of write up principles at the end of this exhibit. s si on 13,984 145,719 161,650 0 12,375 333,728 83,424 3,818 46,325 53,886 0 3,375 107,404 109,454 C us 3,432 60,551 72,492 0 3,375 139,850 118,370 to m fro m LA D uc 45,123 11,410 56,533 61,837 110,788 2,724 26,927 0 ed w ith ou tp er m Pu b lis h 7,250 106,876 126,378 0 6,750 247,254 227,824 84,989 21,634 106,623 121,201 214,980 5,448 53,838 0 in g 13 . 283-072 Technical Data Corporation Exhibit 5 (Continued)Assets Current Assets Cash Marketable Securities Accounts Receivable Prepaid Expenses Other Total Current Assets Property & Equipment Compute r Equipment Office Equipment Motor Vehicles Total Property Less Accumulated Depreciation Net Property and Equipment Other Long-Term Assets TOTAL ASSETS Liabilities Current Liabilities Accounts Payable Accrued Liabilities Taxes Payable Deferred Subscription Income Total Current Liabilities Long-Term Debt Deferred Income Shareholders Equity Common Stock Retained Earnings 67,927 3,886 20,107 91,920 8,876 83,044 1,238 422,734 73,174 3,886 20,107 97,167 11,525 85,642 1,163 559,953 150,199 49,941 138,041 271 0 338,452 233,048 49,941 187,112 1,476 1,571 473,148 174,384 224,197 217,804 1,135 3,425 620,945 October 31 1981 January 31 1982 April 30 1982 m is si on fro m LA D C us to uc ed w 13,984 56,412 23,025 113,747 207,168 90,000 2,275 19,110 11,625 55,336 198,951 285,022 90,000 2,275 ith ou tp er m Th is 14 m at er ia lc an no tb e re TOTAL SHAREHOLDERS EQUITY pr od 65,167 58,124 123,291 65,167 117,487 182,654 Pu b 75,566 3,886 20,107 99,559 14,174 85,385 1,088 707,418 15,022 27,583 95,74 0 232,295 370,640 90,000 2,275 65,167 179,335 244,502 lis h in g . Technical Data Corporation 283-072 Exhibit 5 (Continued) Summary of Significant Accounting Policies The Company bills subscription income in advance on an annual or monthly basis.Such billings are recorded as a financial obligation (deferred subscription income) and taken into income ratably over the period that they are earned. Marketable securities are recorded at cost, which approximates market value. Th is m at er ia lc an no tb e re pr od uc ed w ith ou tp er m is si on Deferred income taxes relate to timing differences in the recognition of certain expenses for income tax purposes, principally depreciation. fro m Investment tax credits are accounted for on the flow-through method as a reduction of income taxes in the year in which the credits are available for tax purposes. LA D Organizational expenses are being amortized over a period of sixty months. C us Property and equipment are recorded at cost.Depreciat ion is computed on the straight-line method over the estimated useful lives of the assets for financial statement purposes, and principally accelerated methods for tax purposes. Costs of maintenance and repairs are charged to expense and significant renewals and betterments are capitalized. to m Pu b lis h 15 in g . 283-072 Technical Data Corporation Exhibit 6 Proforma Profit Projections Expected Values Actual May/1982 financial 8283 financial 8384 Fiscal 8485 Growth Rates REVENUE SOURCE Telerate Customers $ Per Month Revenues Quotron Customers $ Per Month Revenues Radiodata Customers $ Per Month Revenues Newsletter Customers $ Per Year Revenues packet Customers wares $ Per Product Revenues New Bill Product+ Customers $ Per Month Revenues See Assumptions Below) 553 156 1035216* 750 165 1485000 150 170 306000 250 100 300000 300 100 30000 200 10 250 500000 350 100 420000 0 304 railway yard 760250 900 190 2052000 300 187 673200 500 110 660000 500 125 62500 1000 210 2520000 450 206 1110780 700 125 1050000 15. 47 12. 82 30. 27 C us to m fro m LA D tp er m 700 125 87500 200 30 250 1500000 700 125 1050000 400000 7718280 1929570 is si on uc ed w 200 20 250 1000000 500 125 750000 250000 5447700 1361925 ith ou TOTAL REVENUES no tb Other New Products Stocks & For. Exchange e re pr od _______ 1035216 Th is Assumptions 1. Expense Ratio (%) 2. Tax Rate (%) m at er *Annualized ia lc NET PROFIT an 50. 00 50. 00 The Bill Product was the data analysis service focusing on short-term financial securities (e. g. , Treasury Bills) which TDC intended to distribute over Telerate. 16 Pu b 73. 21 10. 00 90. 53 67. 33 11. 80 87. 08 52. 75 11. 80 70. 78 0. 00 73. 21 0. 00 73. 21 41. 42 11. 80 58. 11 NA 59. 31 59. 31 lis h in g . Technical Data Corporation 283-072 Exhibit 6 (Continued) Actual May/1982 ESTIMATED trade SHARES Telerate (Bonds) Total Market TDI Customers Share Quotron Total Market TDI Customers % Share Radiodata Total Market TDI Customers % Share Telerate (Bills) Total M arket TDI Customers % Share 7000 750 10. 71 24000 150 0. 63 2500 250 10. 0 7000 350 5. 00 8000 900 11. 25 48000 300 0. 63 3700 500 13. 51 8000 500 6. 25 9000 1000 11. 11 60000 450 0. 75 4900 700 14. 29 9000 700 7. 78 13. 39 15. 47 1. 84 58. 11 73. 21 9. 54 40. 00 67. 33 19. 52 13. 39 41. 42 24. 72 Fiscal 8283 Fiscal 8384 Fiscal 8485 Growth Rates Th is m at er ia lc an no tb e re pr od uc ed w ith ou tp er Note The other market share figures are not meaningful because TDCs expected share is very small. m is si on fro m LA D C us to m Pu b lis h in g 17 . 283-072 Technical Data Corporation Exhibit 7 Proforma Profit Projections Best Case Values Actual May/1982 Fiscal 8283 Fiscal 8384 Fiscal 8485 Growth RatesREVENUE SOURCE Telerate Customers $ Per Month Revenues Quotron Customers $ Per Month Revenues Radiodata Customers $ Per Month Revenues Newsletter Customers $ Per Year Revenues Software Customers Products $ Per Product Revenues New Bill Product Customers $ Per Month Revenues Other Ne w Products Stocks & For. Exchange (See Assumptions Below) 553 156 1035216* 800 165 1584000 300 170 612000 400 100 480000 400 125 50000 1000 190 2280000 500 187 1122000 600 125 900000 600 150 90000 1200 210 3024000 600 206 1481040 22. 47 12. 82 38. 17 41. 42 10. 00 55. 56 50. 00 22. 47 83. 71 41. 42 9. 54 54. 92 41. 42 73. 21 9. 54 168. 33 41. 42 11. 80 58. 11 123. 61 73. 70 73. 70 si on fro m tp er uc ed 200 10 250 500000 500 100 600000 100000 m is 300 20 275 1650000 700 125 1050000 400000 7492000 1873000 w