Vulcanicity Case Essay Example for Free

Vulcanicity Case Essay Volcanoes mostly occur at plate margins. They can also occur at hot spots and in rift valleys. The most active volcanic zone is the Pacific Ring of Fire around the Pacific plate. Here plates are colliding or separating. At active points on these plates volcanic mountains are formed, e.g. Nazca Plate and South American Plate, where plates separate, e.g. Pacific and Nazca Plate and in rift valleys, e.g. African Plate, Kenya. The most active area on the globe is the western rim of the Pacific Plate stretching from Russia to New Zealand. Several findings relating to earthquakes and volcanic activity can be explained by plate tectonics. If you follow news stories of earthquakes, you may begin to wonder why such places as California or Japan have so many earthquakes, whereas the north eastern United States or Western Europe have so few. The fact is that earthquakes occur along belts and the vast majority of these belts lie on the boundaries of the earth’s tectonic plates. The same is true of volcanoes and locations known for earthquakes, such as the Philippines, have many volcanoes.The Hawaiian Islands are located near the centre of the Pacific Plate. These islands of Hawaii experience plate movement, helping to form the volcanoes that created those islands. At the south of the island group, many volcanoes are still active, while those to the north are mainly dormant. The reason for this is that the Pacific Plate is moving north over a stationary lava source (mantle plume) below Hawaii. The south islands remain above it, while the northern islands have moved away.The Oceanic crusts are tend to be youngest at the centre of ocean basins and along mid-ocean ridges, or along submarine ridges where new seafloor is created. There is much volcanic activity here as massive fissure eruptions frequently occur. Crusts of oceanic and continental type differ by their thickness and by composition. Basalt, an igneous rock (from the cooling of magma), makes up the SIMA, whereas much of the continental crust (SIAL) is made up of granite, also an igneous rock. Where the crust is thin volcanic activity is more clearly seen.

The Harlem Renaissance Essay -- essays research papers fc

HARLEM RENAISSANCE Throughout the history of African Americans, there have been important historical figures as well as times. Revered and inspirational leaders and eras like, Martin Luther King and the Civil Rights Movement, Nat Turner and the slave revolt, or Huey Newton and the Black Panther Party. One such period that will always remain a significant part of black art and culture is the Harlem Renaissance. It changed the meaning of art and poetry, as it was known then. Furthermore, the Harlem Renaissance forever left a mark on the evolution of the black culture. The Harlem Renaissance found its birth in the early 1920’s, in Harlem, New York. The period has been thought of as one of African Americans greatest times in writing. After War World I in 1918, African Americans were faced with one of the lowest points in history since the end of slavery. Poverty increased greatly in the South, as did the number of lynchings. The fear of race riots in the South caused large number of African Americans to move North between 1919 and 1926, to cities such as Chicago and Washington D.C. The idea that an educated black person should lead blacks to liberation was first founded from the works of W.E.B. DuBois. He also believed that blacks could not gain social equality by imitating the ideas of white people. Equality would have to be achieved by teaching black racial pride with an emphasis on black cultural heritage. The Cultural Revolution began as a series of literacy discussions in bars and coffee shops of lower Manhattan (Greenwich Village) and (Upper Manhattan) Harlem. Jean Toomer did one of the first and highly praised works. This would be Toomer’s only contribution to a time that he would later reject. Toomer is also known for his exquisite poetry like; Cotton Song, Evening Song, Georgia Dusk and Reapers. Jane Weldon Johnson had written the controversial â€Å"Autobiography of an Ex-colored Man† in 1924 and he had also edited â€Å" The Book of American Negro Poetry.† This collection included many of the Renaissance’s most talented poets. Included was Claude McKay, a Jamaican born writer. Weldon’s collection also included a young talented poet named Langston Hughes. Hughes had a love for music, mainly the blues, which became a bridge between African American Literature and Folk music. Zora Neale Hurston, an anthropologist originally... ... Furthermore, with that knowledge going on to have racial esteem, to do great things and influence others, thus making a mark on the world. The Harlem Renaissance taught future artist to look at art from an all-encompassing view. It knocked down barriers between literary and musical expression. The Renaissance added a new chapter in American History. A chapter that would highlight the African American thoughts and feelings as well as display their many talents. Bibliography Huggins, Nathan Irvin. Harlem Renaissance. New York: Oxford University Press.1971. Lewis, David Levering. When Harlem was in vogue. New York: Oxford University Press.1979. Reuben, Paul P. "Chapter 9: Harlem Renaissance - An Introduction." PAL: perspectives in American Literature- A Research and Reference Guide. URL: http://www.csustan.edu/english/reuben/pal/chap9/9intro.html, 1999. Roses, Lorraine E. Harlem Renaissance and Beyond: Literary Biographies of 100 Black women Writers, 1900-1945. Boston: Gik. Hall, 1990. Tate, Claudia. Domestic allegories of political desire: The black heroine's text at the turn of the century. New York: Oxford University Press, 1992.

Issue In Health Policy And Management Essay

Introduction The element of well-being is a natural concern for the whole of mankind. It involves the maintenance of a balance, within him or her, with his or her fellow being and with the environment. The integral role of the individual’s health however is of extreme importance. The spectator of health care verses medical care. Health care refers to the prevention, remedy and handling of illness and the upholding of mental and physical stature through the services of the allied institutions include social insurance, which is a government undertaking for the underprivileged, injured, aged or even jobless citizenry. A pool of contributions from employers and also government income funds social insurance. Health care also includes medical aid, and is a federal state funded program that avails health care form the needy. Primary health care is the aspect of professional health care availed to the patients or distressed at first contact with the health care system. Medical care or Medicare is an insurance section of health care for the aged, focusing on the age 65 and over, that is funded and managed by the federal system. Whereas medical care is dedicated to serving a given age, health care is a broad section (that also includes medical care). The relationship between Health care, and the roots of our cultural convictions; Cultural convictions, existing as ethical and social values dictate the context within which systems function. Civil values like the special stewardship for safeguarding the sacredness of life and the Hippocratic oath influence health care immensely. The relationship of health care and other society demands creates another set of values i. e.availing consumers their respect, high quality service, provision and good value for money whereas consuming employee safely, fairness and a sensitive system (to their plight) they can be proud of. † Religion; essentially spirituality counts more so in matters of health care. Take the example of the Salvation Army movement on the blood transfusion debate. Some other religions will not allow the grafting of tissue from other individuals other than the patient. Constraining health care outreach to the desired of subject, as doctors and nurses refuse to perform medical procedures due to their personal beliefs. Dr. Saha Somnath in the study of the â€Å"Relevance of Cultural Distance between Patients and Physicians to Racial Disparities in Health care† portends that; â€Å"patients reported better relationship when seeing physicians of their own ethnicity or race. † explains the cultural racial disparities in health care. EXECUTIVE SUMMARY As addressed to the health care forum, in May 1998 by Daniel Yankelovich† Americans have embraced an expanding pluralism of groups, ways of thinking, points of view, subcultures and values. † That as the world changes and newer systems are embraced its necessary that our social values which concurrently impact on the economy and spiritual (belief) beings be on a balance with the health policy we pursue. References 1. Harold G. , A cross cultural Dialogue On Healthcare Ethics, Wilfrid Laurier University Press, 1999, USA. 2. Lee G. , A Cross Cultural Analysis of Values and Political Economy Issues. Greenwood/Praeger 1994, USA. 3. Susan H. , Religions, Culture and Healthcare: A practical handbook for use in Healthcare Enviroments, Radcliffe Publishing, 2006.

Contemporary trends in corporate finance - Free Essay Example

Sample details Pages: 4 Words: 1274 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Brief: 194364 Title: Contemporary trends in corporate finance Don’t waste time! Our writers will create an original "Contemporary trends in corporate finance" essay for you Create order This report looks at the contemporary trends in corporate finance in the UK. The major trends and their implications are analysed below. Major trends in corporate finance Growth in private equity Private equity has grown rapidly over the last decade. Private equity has grown both in number of deals it is involved in and also the size of companies being taken private. In UK, a consortium led by CVC is bidding for J Sainsbury and another consortium led by KKR is bidding for Boots (Larsen, 2007 I). Both of the above two deals are valued at around  £10 billion. The growth in private equity has been fuelled by the interest of new investors in private equity and availability of cheap debt. Pension funds and wealthy investors are now putting more of their investments in private equity resulting in huge amount of investment funds with private equity. Due to high amount of cash at their disposal, it makes more economical sense for private equity firms to invest in larger deals rather than chasing a large number of smaller deals. UK has also been subject to higher buyout activity from non-UK buyout firms. Acquisitions in the UK by foreign companies in the first three quarters of 2005 exceeded the values for such deals for 2003 and 2004 (Dolbeck, 2005). Both CVC and KKR are US-based firms keenly pursuing buyouts in UK. . Big high street banks have also set up their own private equity funds. Lloyds TSBà ¢Ã¢â€š ¬Ã¢â€ž ¢s LDC invests in UK mid-market with up to  £100 million in private equity[1]. Investment and participation by investment banks Previously investment banks participation in private equity was limited to advising private equity and/or companies and raising capital for private equity companies. But in the last few years, investment banks have also started investing alongside private equity firms. Not only that investment banks are also raising their own funds to invest on their own or alongside with private equity firms. Merrill Lynch is even investing from its own funds[2]. Investment banks participation stems mainly because of the two reasons. First, they generate lucrative fees on the overall deal. Second, investment banks earn good returns on their money invested. Emergence of hedge funds in diverse investment instruments Hedge funds are investing in securities of longer term lock-in periods. Hedge funds active in the leveraged buyout market are providing subordinate debt and payment-in-kind securities. A consortium of hedge funds helped finance Malcolm Glazers pound  £790 million takeover of Manchester United FC by taking payment-in-kind securities (The Lawyer, 2006). This has brought hedge funds in direct competition to established companies funding such investments. Hedge funds have also started taking active roles in changing companies in distress or special situations. Availability of cheap debt Growth in private equity has been fuelled by availability of cheap debt. Increase in corporate earnings over the last few years and reduced interest rates allowed banks to increase their lending for acquisitions. Stable economic environment in UK has also increased bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s appetite for risk. Private equity investors are often borrrowing six to seven times the equity they are putting in the deal[3]. Emergence of activist investors Activist investors à ¢Ã¢â€š ¬Ã¢â‚¬Å" individual investors and / or hedge funds à ¢Ã¢â€š ¬Ã¢â‚¬Å" are taking more active role in forcing companies to restructure and increase shareholders value. Cadbury Schweppes recently agreed to demerge its businesses and list them separately to increase shareholder value. The company had previously decided not to take this route but the turnaround came swiftly after appearance of the US activist Nelson Peltz as one of the main shareholders (Jackson, 2007). Hedge funds are now coming out in open and asking companies to take drastic actions to increase their returns. Implications Corporate debt to equity ratio Companies with good and predictable cash flows are facing more prospects of being acquired by private equity firms. Mature businesses with significant proportion of their assets in tangible and physical assets offer good securities against which buyout firms can raise cheap loans. To reduce their likelihood of being taken over by buyout firms, companies are raising more debts and returning cash to shareholders. It is do or die scenario in some cases as companies reluctant to take on more leverage could find themselves on the receiving end of a takeover bid (Larsen, 2007 II). This has led to increase in debt to equity ratios of companies. Stagecoach plc is returning  £700 million to its shareholders. Because of disposal of some of its businesses, the company had a net fund position of  £140 million in October 06 (Stagecoach, 2007). Stagecoach will have to take debt to finance the return of capital to the shareholders. According to Modigliani and Millerà ¢Ã¢â€š ¬Ã¢â€ž ¢s proposition II, the expected return on equity of a levered firm increases in proportion to the debt to equity ratio (Brealey Myers). Higher debt should then raise shareholders return but it also increases the chances of bankruptcy. Some of the corporate decisions, made under the influence of active investors, may appear to be good for shareholders in short-term. Return of cash or separating businesses may increase shareholders value but would expose companies to risk of high interest rate or may not leave them with sufficient cash to pursue growth opportunities in future. Increase in interest rates Higher buyout activity and return of capital to shareholders have been funded by availability of cheap debt. But with the continuing increase in house prices and moderate to high inflation, Bank of England has been raising interest rates. Due to higher financial leverage, companies with higher debt will have to incur more interest charges if interest rates increase. Additionally consumers, who have taken more mortgages on their homes, will find that they have lower income at their disposal after paying higher mortgages. Lower income and higher interest charges will likely lead to reduction in companies earning and increase their chances of bankruptcy. Dividend With a view to avoid being acquired by buyout firms, companies are increasing dividend to better utilise cash sitting in the business or its ability to raise cheaper funds. This is also done under pressure from hedge funds who are pressurising companies to increase their share prices by efficient use of funding and return of capital. Last few years have seen growth in private equity deals, both in number of deals and size of individual deals. This has been fuelled by the increase in funds available with buyout firms and also by the availability of more and cheap debt. Also activist investors are pushing firms to increase shareholder value. Companies are now taking steps to return capital to shareholders to avoid being taken private. All of the above has resulted in higher amount of debt for companies with stable cash flows and exposing them to bankruptcy risks in case interest rates rise further and consumers demand slows down. BIBLIOGRAPHY REFRENCES Brealey, R.A. S.C. Myers. à ¢Ã¢â€š ¬Ã…“Principles of corporate financeà ¢Ã¢â€š ¬Ã‚ , Sixth edition, Tata Mcgraw-Hill Publishing Company Limited, pg. 481 Dolbeck, A. à ¢Ã¢â€š ¬Ã…“Mergers and acquisitions around the worldà ¢Ã¢â€š ¬Ã‚ , Weekly Corporate Growth Report, Santa Barbara, 19 December 2005, Iss. 1370, Pg. 1 Jackson, T. (2007). à ¢Ã¢â€š ¬Ã…“The public company is battered but not brokenà ¢Ã¢â€š ¬Ã‚ , Financial Times, 19 March 2007 Larsen, P.T. (2007, I). à ¢Ã¢â€š ¬Ã…“Private equity bids keep on growingà ¢Ã¢â€š ¬Ã‚ , Financial Times, 28 March 2007 Larsen, P.T. (2007, II). à ¢Ã¢â€š ¬Ã…“Takeovers reach a record highà ¢Ã¢â€š ¬Ã‚ , Financial Times, 25 January 2007 The Lawyer (2006). à ¢Ã¢â€š ¬Ã…“Private equity funds bristle as hedge funds muscle inà ¢Ã¢â€š ¬Ã‚ , The Lawyer, London, Feb13, 2006. Pg. 13 Stagecoach (2007). à ¢Ã¢â€š ¬Ã…“Proposed return of value of approximately  £700 million to Shareholdersà ¢Ã¢â€š ¬Ã‚  (https://investegate.co.uk/Article.aspx?id=200703140701329088S), 14 March 2007. [1] Lloyds TSB LDC (https://www.ldc.co.uk/), 6th April 2007 [2] Larsen, P.T. (2007, I). à ¢Ã¢â€š ¬Ã…“Private equity bids keep on growingà ¢Ã¢â€š ¬Ã‚ , Financial Times, 28 May 2007 [3] Larsen, P.T. (2007, I). à ¢Ã¢â€š ¬Ã…“Private equity bids keep on growingà ¢Ã¢â€š ¬Ã‚ , Financial Times, 28 May 2007