The Debt And Equity Securities - 1064 Words

Prior to 2016, both debt and equity securities could be classified as available for sale and their gains and losses reported in other comprehensive income; however, with the passing of Accounting Standard Update No, 2016-01, all equity securities must now be classified as trading and their unrealized gains and losses reported in earnings. The forthcoming evidence indicates that the financial statements better reflect the true risks taken by the company when the unrealized gains and losses on equity securities to appear in earnings rather than other comprehensive income. FASB issued Statement of Financial Accounting Standards No. 115 in May of 1993, which supersedes FASB Statement No. 12, Accounting for Certain Marketable Securities. The statement requires securities, with readily determinable fair values, be placed into one of three classifications: trading, available for sale, and held to maturity. Each of the three classifications has their own distinct reporting standards. Under this statement, equity securities can be classified as trading or available for sale, but debt securities can be classified as available for sale or held to maturity. Unrecognized gains and losses for available for sale securities are presented in other comprehensive income until they are recognized, at which time they are reclassified to the income statement. For the past ten years, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) haveShow MoreRelatedThe Debt And Equity Securities952 Words   |  4 PagesPrior to 2016, both debt and equity securities could be classified as available for sale and their gains and losses reported in other comprehensive income; however, with the passing of Accounting Standard Update No, 2016-01, all equity securities must now be classified as trading and their unrealized gains and losses reported in earnings. After examining the history of available for sale reporting standard and running pro form a scenarios of Yahoo! Inc.’s financial statements, the forthcoming evidenceRead MoreThe Debt And Equity Securities882 Words   |  4 Pages Prior to 2016, both debt and equity securities could be classified as available for sale and their gains and losses reported in other comprehensive income. However, with the passing of Accounting Standard Update No, 2016-01, all equity securities must now be classified as trading and their unrealized gains and losses reported in earnings. After examining the history of available for sale reporting standard and running pro forma scenarios of Yahoo! Inc.’s financial statements, I have determinedRead MoreThe Fasb Codification Topic 320 : Investments Debt And Equity Securities1487 Words   |  6 Pages Overall. 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Economical Analysis of Asset Prices Free Essays

Economic Analysis of Asset Prices Introduction The most recent economic crisis, from which the global economy is still reeling, started in 2007, approximately one year after the ‘sub-prime’ housing market in America buckled under its own weight, putting pressure on the financial markets across the world. This economic crisis, argued to be the worst financial crisis since the Great Depression in the 1930s (Brunnermeier, 2009), led to a dramatic reduction in the volume of bank lending along with non-price rationing of credit, which is known as a ‘credit crunch’ (Brunnermeier, 2009; Shaffer and Hoover, 2007). The financial crisis was felt all through the economy in many countries and led to the failure of many businesses including major banks and financial houses, a reduction in consumer wealth, considerable financial commitments incurred by governments, and an overall significant reduction in economic activity for approximately two years (Nataste et al. We will write a custom essay sample on Economical Analysis of Asset Prices or any similar topic only for you Order Now , 2009). This paper assesses how and to what extent events of the financial crisis beginning in 2007 reflect asset-pricing inefficiencies in stock markets and housing markets. The discussion begins with an overview of the events that led up to the financial crisis. The second substantive section explicitly discusses the criteria used in assessments of ‘efficiency,’ while the third substantive section assesses how these criteria can be applied in the context of the crisis. The paper concludes with a discussion of some insights from behavioural economics. Background: The Financial Crisis of 2007 In 2007, approximately one year after the ‘sub-prime’ housing market in America crumbled, the most recent global economic crisis began, straining the global financial markets (Nataste et al., 2009). There are three main, interrelated factors that led to the crisis: a preceding period of exceptional macro-stability, the global savings surplus, and innovation within the financial markets (Dimsdale, 2009, Mizen, 2008, Pomfret, 2010). First, one of the precursors of the economic crisis was a period over which there was extraordinary stability in the American and European economies. Second, there was a global savings surplus from emerging economies, which supported extremely low long-term interest rates in these countries, which allowed those in the money market to have access to cheap money. These credit booms led to excessive debt burdens (Claessens, 2009). Third, there were several innovative financial products being introduced on the market, such as mortgage-backed securi ties, but financial innovation also led to more complexity, higher leverage, and weaker underlying assets (as they were dependent on ‘sub-prime’ mortgages, which is explained in more detail below). This point is supported by Pomfret (2010) and others, who argues that the financial system has become more vulnerable to crisis because of innovation and development in the financial sector combined with easy monetary policy stemming from the stable macroeconomy and very low interest rates at the beginning of the millennium. Sub-prime mortgages were offered based on ‘self-certification of income,’ and therefore allowed a lot of people who previously lacked the financial capacity to purchase property under the existing system (which was based on applicants’ income), were able to access these mortgages (Chatterjee and Lefcovitch, 2009). And even at higher interest rates it was an attractive offer at the beginning of the millennium because the macroeconomy was stable, interest rates were very low, and the housing market in the USA was buoyant (Crouhy et al., 2008). Houses prices in America and in other markets, such as the UK and Iceland, rose sharply in the period preceding the crisis, generally fuelled by quickly increasing levels of available credit, which resulted in sharply increased household debt (Brunnermeier, 2009; Claessens, 2009). Given the extended period of macroeconomic stability, a fall in house price across the entire US was not anticipated, indeed such an occurrence had not been accounted for in the models used to assess the risk of the sub-prime mortgages and the other sources of credit that were readily available during this period (Mizen, 2008). When house prices did fall, the number of borrowers defaulting on their payments increased greatly in the sub-prime mortgage sector, and this was the eventual trigger for the economic crisis (Brunnermeier, 2009; Mizen, 2008). So one of the key features of the most recent crisis was the increases in asset price (particularly the price of houses) that turned out to be unsustainable, which caused a housing bubble (Claessens, 2009). When the housing bubble burst, banks and other financial houses had to write down many hundred billion of dollars in bad loans that had been caused by the fact that many mortgage holders were unable to pay their loans and so became del inquent (Brunnermeier, 2009). Additionally, the stock market capitalisation of the major banks was reduced by more than twice as much as the amounts that had to be written down (Brunnermeier, 2009). Asset Pricing and the Efficient Market Hypothesis How are assets, like houses, pricedAccording to Brunnermeier (2001), asset prices are determined by information that is public available and generally dispersed among a lot of market participants who try to deduce the information that other participants have by analysing price processes. Additionally, asset prices are determined by market participants’ expectations about the future profits on the assets. Whenever new information becomes available, market participants may have to re-evaluate these expectations about the future asset prices. It can therefore be expected that the information available in the market is important such that asymmetric information, for example, would affect asset prices and traders’ information inference. The efficient market hypothesis (EMH) is the idea that market, such as the stock market or the housing market, is informationally efficient, meaning that all information about a security or asset is known by the participants in market, and consequently by all potential investors (Ehrhardt and Brigham, 2008). More specifically, informational efficiency refers to how much information is revealed by the price process and prices are deemed to be informationally efficient if they fully and correctly contain all the available information (Brunnermeier, 2001). There are three types of informational efficiency, strong, semi-strong, and weak, and this depends on the amount and type of information reflected in the asset price (Brunnermeier, 2001). According to Ehrhardt and Brigham (2008), EHM holds that (1) stocks are in equilibrium at all times and (2) it is not possible for an investor to constantly get better than average returns on the market than the risk of her investor warrants. EHM essentially suggests that, beyond the normative utility maximising market participants, market participants have rational expectations and on average the market prices are correct, even though any one or all market participants may be incorrect. That is, even if individuals are wrong, the people as a community will be engaged in forecasting the stock prices, which will be done by using all the available information. As soon as some new information is available in the market these people will change their estimates immediately. As a result of this conduct, the prices in the stock market totally reflect the existing information as well as reflect the precise inherent value (Ehrhardt and Brigham, 2008). EMH depends on the fact that stock prices follow a ‘random walk,’ meaning that price changes are not dependent on each other (Ehrhardt and Brigham, 2008). This suggests that all information is equally known and considered by the market as individuals, and as such there is little or no chance for arbitrage in the market. It is not considered to hold in all cases, but in enough to promote the capital market line, a correlation between the market and the equities and securities and assets that make it up (Granger, 1992). In an efficient market, competition ensures that (Ehrhardt and Brigham, 2008): New information is quickly and fully assimilated into prices; All available information is reflected in the stock price; Prices reflect the known and expected, and respond only to new information; and Price changes occur in a random manner. There are three forms of the theory, weak, semi-strong, and strong (Ehrhardt and Brigham, 2008; Granger, 1992). Weak form efficiency posits that current market prices reflect all information from history. This suggests that prices in the market reflect all the information that has been made available in the past. As a result it would not be possible to get surplus returns by use of methodological analysis but could be done through fundamental studies of the market. Hence, the fluctuations in the price of the stock should be unpredictable and unsystematic (Ehrhardt and Brigham, 2008). Semi-strong form efficiency is based on the notion that market prices reflect all publicly available information, and this means that availability of any new public information makes the markets react spontaneously in a particular fashion. Thus, agents react quickly to such information making the discovery of possible missed stock prices through deep analysis useless (Granger, 1992). Finally, strong form efficiency is based on the notion that market prices reflect all information, both public and private (Ehrhardt and Brigham, 2008). In the case of strong-form efficiency hypothesis, it is assumed that not only the public information but also private information has a bearing on the stock prices, this might include information which is available only to a handful of individuals and they would use this information to make enormous profits (Granger, 1992). Even so, such huge returns are not achievable because stock prices tend to immediately adjust by accounting for the most sensitive information. As a result, it would be of no benefit to engage in insider trading as the trader would be in the same position as to that of the person trading without this information (Ehrhardt and Brigham, 2008). The benefit of the EHM over ad hoc formulations of expectations is that it gives market participants a simple, general and credible manner of dealing with expectations (Ehrhardt and Brigham, 2008). However, the soundness of the hypothesis has been questioned by many, some of whom accuse the notion that markets are rational for much of the recent financial crisis. The next section assesses how and to what extent events of the financial crisis beginning in 2007 reflect asset-pricing inefficiencies in stock markets and housing markets, specifically assessing how these criteria can be applied in the context of the most recent financial crisis. How and to What Extent Events of the Financial Crisis Beginning in 2007 Reflect Asset-Pricing Inefficiencies in Stock Markets and Housing Markets? This section discusses the extent of asset-pricing inefficiencies in the stock markets and housing markets based on the four criteria outlined above. First, was new information quickly and fully assimilated into pricesSecond, was all available information reflected in the stock priceThird, did prices reflect the known and expected, and respond only to new informationAnd finally, did market prices changes occur in a random manner? In examining the questions, the role of complexity has to be acknowledged. In neoclassical economics model, agents (investors) make the best (optimal) choices regardless of the difficultly of the problem with which they are dealing (Ehrhardt and Brigham, 2008). However, examining the recent economic crisis, one of the key lesson is not that mortgage takers in the sub-prime sector of the housing market did not understand the complicated terms of the mortgages they had been offered, rather the key lesson is that the lenders (the firms that bought these securitised mortgages) did not seem to fully understand the risks that were intrinsic in these assets (Brunnermeier, 2009; Thaler, 2008). As previously noted, innovative financial products introduced into the market, such as mortgage-backed securities, also introduced greater complexity (Mizen, 2008). Acharya et al. (2009, p. 4) outline innovations in financial products that made it unlikely that stock prices and housing prices (1) refle cted all available information or (2) assimilated new information quickly and fully. These are: (1) New exotic and illiquid ?nancial instruments that were hard to value and price; (2) Increasingly complex derivative instruments; (3) The fact that many of these instruments traded over the counter rather than on an exchange; (4) The revelation that there was little information and disclosure about such instruments and who was holding them; and (5) The fact that many new ?nancial institutions were opaque with little or no regulation. Additionally, even when the crisis had been exposed, the magnitude of the bank’s and other financial institutions’ exposure remained unclear, as well as full information on who was at risk through counterparty failure (Acharya et al., 2009). This supports the idea that the lenders did not fully understand the intrinsic risks that in the securitised assets they held as argued by Thaler (2008). According to Acharya et al. (2009, p. 5): Private ?nancial markets cannot function properly unless there is enough information, reporting, and disclosure both to market participants and to relevant regulators and supervisors. When investors cannot appropriately price complex new securities, they cannot properly assess the overall losses faced by ?nancial institutions, and when they cannot know who is holding the risk for so-called toxic waste, this turns into generalised uncertainty. Based on this it can be argued that new information was not quickly and fully assimilated into prices nor was all available information reflected in the stock price during the 2007 crisis. This leaves two questions to be discussed: did prices reflect the known and expected, and respond only to new information and did market prices changes occur in an unpredictable wayThe evidence seems to suggest that neither of these happened. Discussion and Conclusion The EHM has been disputed based on both empirical and theoretical bases, particularly by behavioural economists who ascribe the imperfections in financial markets (such as asset price inefficiencies discussed above) to a range of cognitive biases that include overconfidence (or ‘irrational exhuberance’), overreaction, representative bias, information bias, as well as a range of other unsurprising human errors in reasoning and information processing (Addleson, 1995). For example, DeBondt and Thaler (1985) argue that investors are likely to be affected and involved with the optimism as well as the pessimism of shown by the overall market. This leads to systematic deviation in the prices from the usual fundamental values. This overreaction owing to the past events falls on the same lines as the theory outlined by Kahneman and Tversky (1979), in which investors tend to be overconfident and overoptimistic about the forecasting of their future corporate earnings and stock pric es. The findings support the ‘contrarian strategy’ in which an investors would buy stocks, or at times a group of stocks which have not been performing for long periods of time, while avoiding the ones that have had a good long run over the last few years (DeBondt and Thaler, 1985). Speculative economic bubbles such as the housing market bubble discussed here, tend to be clear anomalies in the market, that is, the market often seems to be driven by buyers operating on irrational exuberance, who then disregard the underlying value of the asset being traded (Ehrhardt and Brigham, 2008). This seems to be the case in the housing bubble. As outlined above, the boom in credit available to households was connected with the creation of marginal assets whose practicability was dependent on favourable macroeconomic conditions continuing for a long period. In America, to some extent the UK (such as with Northern Rock), a great percentage of the mortgage expansion consisted of loans extended to subprime borrowers with little or no credit and employment histories, as outlined above (Claessens, 2009). Debt servicing and repayment were, thus, susceptible to economic downturns and variances in credit and monetary conditions. (Claessens, 2009, p. 3) therefore argues that â€Å" [t]his maximised default correlation across loans, generating portfolios highly exposed to declines in house prices – confirmed ex-post through the large non-performing loans when house prices declined.† Other explanation of motives could also be presented here. For example, Brunnermeier (2009, p. 82) noted that there was a decline in the quality of credit leading up to the crisis as â€Å"[m]ortgage brokers offered teaser rates, no-documentation mortgages, piggyback mortgages (a combination of two mortgages that eliminates the need for a down payment), and NINJA (‘no income, no job or assets) loans.† While this can be blamed on other motives, such as predatory lending, this also occurred because of irrational exhuberance as outlined by Brunnermeier (2009, p. 82): â€Å"All these mortgages were granted under the premise that background checks are unnecessary because house prices could only rise, and a borrower could thus always refinance a loan using the increased value of the house.† These bubbles are typically followed by an overreaction of frantic selling because, the fall in the value of the asset backed by high leverage eventually leads to the forced ?re sale of the asset (Acharya et al., 2009; Brunnermeier, 2009). This was seen in the most recent financial crisis. For example, Bear Stearns’ the funds had lost over 90 percent of their value before the firm almost went bankrupt (Acharya et al., 2009). Similarly, the run on the assets of three structured investment vehicles (SIVs) of BNP Paribas was so severe that BNP Paribas had to suspend redemptions (Acharya et al., 2009). Overall, the discussion contained in this paper indicates that asset-pricing inefficiencies in stock markets and housing markets had a big impact on the events of the financial crisis beginning in 2007. References Acharya, V., Philippon, T., Richardson, M., and Roubini, N. (2009). Prologue: A bird’s-eye view – The financial crisis of 2007-2009: Causes and remedies. In Acharya, V. and Richardson, M. (eds.), Restoring Financial Stability: How to Repair a Failed System (p. 1-56). Wiley. Addleson, M. (1995). Equilibrium versus Understanding: Towards the Restoration of Economics as a Social Science. New York, NY: Routledge. Brunnermeier, M. (2001). Asset Pricing under Asymmetric Information: Bubbles, Crashes, Technical Analysis, and Herding. Oxford: Oxford University Press. Brunnermeier, M. (2009). Deciphering the liquidity and credit crunch 2007-2008. Journal of Economic Perspectives, 23 (1): 77-100. Claessens, S. (2009). The road ahead to a sustainable global economic system. Presented at the Annual Bank Conference on Development Economics (ABCDE) Seoul, Korea, June 22-24. Available online at http://siteresources.worldbank.org/ INTABCDESK2009/Resources/Stijn-Claessens.pdf [accessed 20 January 2011]. Crouhy, M., Jarrow, R., and Turnbull, S. (2008). The sub-prime credit crisis of 2007. The Journal of Derivatives, 16 (1): 81-110 De Bondt, W. and Thaler, R. (1985). Does the stock market overreactThe Journal of Finance, 40 (3): 793-805. Ehrhardt, M. and Brigham, E. (2008). Corporate Finance: A Focused Approach.Mason,OH: South-Western Cenage Learning. Granger, C. (1992). Forecasting stock market prices: Lessons for forecasters. International Journal of Forecasting, 8 (1): 3-13. Kahneman, D. and Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47 (2): 263-292. Mizen, P. (2008). The Credit Crunch of 2007-2008: A discussion of the background, market reactions, and policy responses. Federal Reserve Bank of St Louis Review, September/October: 531-568. Nastase, M., Cretu, A., and Stanef, R. (2009). Effects of global economic crisis. Review of International Comparative Management, 10 (4): 691-699. Shaffer, S. and Hoover, S. (2007). Endogenous screening, credit crunches, and competition in laxity. Review of Financial Economics, 17 (4): 296-314. Thaler, R. (2008). 3Q2008. Fuller Thaler Asset Management. Available online at http://www.fullerthaler.com/reviews/newsltr2008Q3.pdf [accessed 20 January 2011]. How to cite Economical Analysis of Asset Prices, Essay examples

Business Statistics Free-Sample for Students-Myassignmenthelp.com

Questions: 1.Provide two possible reasons for why the Queensland government decided to let the mining company monitor itself. Use case material to illustrate your arguments. 2.Provide three possible ways for the Queensland government to strengthen their decision making. Use case material to Illustrate your arguments.3.Provide three Issue related factors in ethical decision making to explain the residents unwillingness to act against the mine company. Use case material to illustrate your arguments. 4.Give two Examples of how Xstrata can promote Ethical Decision Making in the mine as a Workplace. Use case Material to Illustrate your arguments. 5.What type of Qualitative research would you undertake? Use case Material to Illustrate your arguments. 6.What would be the Disadvantages of the Chosen Method? Use case Material to Illustrate your arguments. Answers: 1.The reasons behind the government not having a fundamental commitment to the issue of the company polluting the environment are because the enterprise is a greater contributor offering many local people of Mount Isa jobs. The company also has put into place systems to reduce pollution by removing pollutants in the Mount Isa River and projects intended to reduce pollution. The manager of the company argues it has the most extensive system in Australia. However, the government has the duty to regulate the business instead of letting it manage its emission as it may be biased (Crane, Matten, Spence, 2008). 2.Carry out intensive research on the complaints that the locals bring about the lead emissions and the duties of the company to make better decisions on the steps to take. Consult when making a decision and take into considerations the finding of other researchers instead of arguing they are baseless to cover a situation they are clearly aware it is dangerous. Be ethical in making decision to protect the people from any harm. It is unethical for them to allow the company destroy the lives of the people regardless of the contributions to the economy. Firms have an obligation to conserve the environment (Weber, 2008, pp. 247-261). 3.Negligence The findings reveal that the areas are not safe for people to live but they argue that all this are false as some have lived there for many years without any effects. Workers are not aware of precautionary measures, and they wash their overalls at homes like Jeffrey increasing the infection rates. Vehicles from the mine leave when they are dusty, and this increases pollution Ignorance The individuals are ignorance of the fact that there is pollution; they do not care as long as the effects are not affecting their lives. The people are only thinking of the financial benefits they get from the company because of employments. Louise Armstrong, an indigenous inhabitant, does not believe lead pollution and does not care to test his children. The company had not started mining, so there was no exposure before. Dependency on the enterprise. The people depend on the company both directly and indirectly for survival. The company has employed 4000 people, and 5000 rely on it indirectly. These factors make the people unable to act against the company as it is the source of their daily incomes. 4.Control pollution of the company to the environment. It is true that the company is monitoring its emissions as Ed Turley, the company's environmental manager notes but it seems that something is wrong or cover-ups among the concerned parties. Research findings by Northern Territory's Charles Darwin University, Niels Munksgaard and Mark Taylor, of Sydney's Macquarie University, indicated that the mine was producing high levels of lead that other places like Romania and Japan yet their findings were ignored. The parents who are victims like Powe are assumed too, but the fact remains that the company is causing more harm to the people than good (Trevino, Nelson, 2010). Take responsibility and compensate the children who have been victims of the lead poisoning in Mount Isa. Brenda Oliver and her husband, Jeffrey come to the area to look for greener pastures, but the lead emission made their 13yr old son Ryan have learning and behavioural difficulties. Daphne Hare also came to work, but her daughter Stella recorded high levels of lead of 17mcg/dl and could frequently get sick. She decided to sue the parties involved before returning to her hometown. All this point to the evils of the company despite no actions taken to compensate the families for the harms they caused (De George, 2011). 5.I would surveys and questionaries to get information from the people. The two methods would enable me to get information from the people even those who fear to thunder in fears of losing their jobs. In this ways, true information will be obtained (Taylor, Bogdan, DeVault, 2015). 6.Surveys and questionnaires may limit the range of data I received from the respondents making the research not useful. The respondents may be reluctant to give complete information on the fear of it being used against them in case it gets on unauthorized persons (Hoonakker, Carayon, 2009, pp.348-373). References Crane, A., Matten, D., Spence, L. J. (Eds.). (2008).Corporate social responsibility: Readings and cases in a global context. London: Routledge. De George, R. T. (2011).Business ethics. Pearson Education India. Hoonakker, P., Carayon, P. (2009). Questionnaire survey nonresponse: A comparison of postal mail and internet surveys.Intl. Journal of HumanComputer Interaction,25(5), 348-373. Taylor, S. J., Bogdan, R., DeVault, M. (2015).Introduction to qualitative research methods: A guidebook and resource. John Wiley Sons. Trevino, L. K., Nelson, K. A. (2010).Managing business ethics. John Wiley Sons. Weber, M. (2008). The business case for corporate social responsibility: A company-level measurement approach for CSR.European Management Journal,26(4), 247-261.

Tennyson and optimism and despair Essay Example For Students

Tennyson and optimism and despair Essay I believe that Tennysons works do represent the different positions of optimism and despair. In The Lady of Shalott, she is hoping to get out of the castle, but she dies on the way down. In Ulysses, the two ideas are represented again, but through different ways. The lady in The Lady of Shalott is waiting for a prince to come and save her. A bowshot from her bower eaves, /He rode between the barley leaves describes her seeing Lancelot. She climbs down from the tower to ride a boat down to Camelot and (since she is cursed) ages rapidly and dies in the boat- She floated down to Camelot; /And as the boathead wound along /The willowy hills and fields among, /They heard her singing her last song, /The Lady of Shalott. In Ulysses, the persona loves going to battle, it gives him a sense of worth and something to do- And drunk delight of battle with my peers. He wants to go back out and fight, but there are no more wars, and his soul feels younger than his body. We are not now that strength which in old days /Moved earth and heaven, that which we are, we are- /One equal temper of heroic hearts, /Made weak by time and fate, but strong in will /To strive, to seek, to find, and not to yield. Tennyson had some tragedies in his life, and wrote about them in his poetry. But like all humans there is always hope and optimism that things will change for the better. We will write a custom essay on Tennyson and optimism and despair specifically for you for only $16.38 $13.9/page Order now Words / Pages : 256 / 24 . Tennyson and optimism and despair Essay Example For Students Tennyson and optimism and despair Essay I believe that Tennysons works do represent the different positions of optimism and despair. In The Lady of Shalott, she is hoping to get out of the castle, but she dies on the way down. In Ulysses, the two ideas are represented again, but through different ways. The lady in The Lady of Shalott is waiting for a prince to come and save her. A bowshot from her bower eaves, /He rode between the barley leaves describes her seeing Lancelot. She climbs down from the tower to ride a boat down to Camelot and (since she is cursed) ages rapidly and dies in the boat- She floated down to Camelot; /And as the boathead wound along /The willowy hills and fields among, /They heard her singing her last song, /The Lady of Shalott. We will write a custom essay on Tennyson and optimism and despair specifically for you for only $16.38 $13.9/page Order now In Ulysses, the persona loves going to battle, it gives him a sense of worth and something to do- And drunk delight of battle with my peers. He wants to go back out and fight, but there are no more wars, and his soul feels younger than his body. We are not now that strength which in old days /Moved earth and heaven, that which we are, we are- /One equal temper of heroic hearts, /Made weak by time and fate, but strong in will /To strive, to seek, to find, and not to yield. Tennyson had some tragedies in his life, and wrote about them in his poetry. But like all humans there is always hope and optimism that things will change for the better. Words/ Pages : 256 / 24 Tennyson and optimism and despair Essay Example For Students Tennyson and optimism and despair Essay I believe that Tennysons works do represent the different positions of optimism and despair. In The Lady of Shalott, she is hoping to get out of the castle, but she dies on the way down. In Ulysses, the two ideas are represented again, but through different ways. The lady in The Lady of Shalott is waiting for a prince to come and save her. A bowshot from her bower eaves, /He rode between the barley leaves describes her seeing Lancelot. She climbs down from the tower to ride a boat down to Camelot and (since she is cursed) ages rapidly and dies in the boat- She floated down to Camelot; /And as the boathead wound along /The willowy hills and fields among, /They heard her singing her last song, /The Lady of Shalott. In Ulysses, the persona loves going to battle, it gives him a sense of worth and something to do- And drunk delight of battle with my peers. He wants to go back out and fight, but there are no more wars, and his soul feels younger than his body. We are not now that strength which in old days /Moved earth and heaven, that which we are, we are- /One equal temper of heroic hearts, /Made weak by time and fate, but strong in will /To strive, to seek, to find, and not to yield. Tennyson had some tragedies in his life, and wrote about them in his poetry. But like all humans there is always hope and optimism that things will change for the better. We will write a custom essay on Tennyson and optimism and despair specifically for you for only $16.38 $13.9/page Order now .

Puberty Blues is a non-fictional story based on the lives of the authors, Kathy Lette and Gabrielle Carey as they were teenage Essays

Puberty Blues is a non-fictional story based on the lives of the authors, Kathy Lette and Gabrielle Carey as they were teenage Essays Puberty Blues is a non-fictional story based on the lives of the authors, Kathy Lette and Gabrielle Carey as they were teenage Essay Puberty Blues is a non-fictional story based on the lives of the authors, Kathy Lette and Gabrielle Carey as they were teenage Essay Essay Topic: We Real Cool Puberty Blues was written by Kathy Lette and Gabrielle Carey. It was first published in 1979. This edition was published in 2002 by Pan Macmillan in Sydney; and reprinted in 2003. It is a non-fictional story aimed at 13-14 year old girls based on the lives of the authors, Kathy Lette and Gabrielle Carey when they were teenagers growing up in the Southern suburbs of Sydney. Throughout the novel, the main characters, Debbie and Sue, explore the treacherous expectations that peer pressure can place upon adolescents lives. It represents the importance of coming to the realization that creating morals and values of your own, whether male or female, is the most important thing that you will ever have to do. At just thirteen years of age Debbie would have done anything to become part of the popular group. If you werent in that crowd you were no one. After dealing with the mean and harsh treatments the popular group had displayed towards Debbie and her best friend Sue, they continued endeavoring to be accepted by the group. The reader can slowly see Debbie change her morals and values as the story progresses. Her family was no longer important to her, she continually disrespected their rules and appeared ignorant to any past ethical behaviors they had taught her. She became obsessive about status and risked everything to fit in. She began to ditch her old friends and began drinking, smoking and cheating in schoolwork. She knew that it was wrong but popularity was her main priority. She lost dignity in herself and respect from her family and began to believe it was acceptable to eat, sleep and breathe the boys expectations of her. Debbie began to feel nothing was worthwhile, life was boring and there was nothing to do. She kept on commenting on how great it would be to surf but everyone laughed it off as a joke and replied with a quick answer that girls dont surf. To cure her boredom, she began to take drugs with the boys and soon fell pregnant to her boyfriend, Danny. After looking everywhere to find hi m and tell him the news she finally found him in his room nearly passed out from taking so many drugs. This was when Debbie became more aware of the outside world again and how shed changed. She began to realize that all her peer group ever did was do things for the boys and that their only source of entertainment was sex, drugs, and surfing (the girls were their accessories who sat on the beach and minded their towels). She was sick of delivering food to the guys when they were ready for it and she was sick of never doing anything for herself. After spending a lot of time thinking about it, she finally told Sue how she felt. She wanted to do something about it and she knew what that was. After that day Debbie and Sue bought their very own surfboard. They surfed all day long and had never felt better, and although their group had disowned them straight away she didnt care anymore. She saw them as a minority group she once strived to be part of. Puberty Blues is written in first person. This displays a more personal connection between the character and the reader. The authors also project a sense of confidence within the characters about what was cool and what wasnt. For example, in the first few paragraphs the characters tell you what was cool, they told you the things you must do to become accepted and as they were speaking showed a sense of excitement at the thought of this. They spoke of the boys in a manner which suggested they were god like creatures who were so superior to them that it was wrong not to do anything that they said. The novel is written in simple language yet relates to mature themes such as sex, drugs, and popularity amongst school life which affect the targeted audience who are becoming interested in such ideas and concepts. The language gives the reader a feeling of connection between the text and the ideas, which they can relate to themselves. In the beginning of the novel Debbie spoke in an incoherent manner but as she began to realize her inanity, she became more articulate and competent at expressing a cogent outlook on teenage false perceptions of priorities in life which seem miniscule to the outside world, e.g. popularity. Because the author includes the main characters throughout the novel, and shows their changes and how they grow as people, the use of an epilogue is one of the most important parts of this novel. It shows some who die from drug overdose and others ending up in jail for crimes they have committed. It shows how important it is to make the right decisions without sounding lame to the intended audience. The paragraph which reflects the most change in Debbie is the last paragraph in the book (p.113). We climbed the sand hill at Wanda and looked back. There they were, a mass of black specks way out to sea. The surf had dropped. They sat astride their boards in the grey, flat water; waiting. I knew theyd be talking about their chicks. They always did, way out there when the waves werent working. Hey Deb, lets go get a milkshake Sue and I walked off. It shows that Debbie at last sees the boys as an overrated obsession. How theyre better off claiming independence rather then living up to other peoples expectations and it also shows that your true friends are the ones who will always be there.

5 Traits of People Who Always Get Promoted at Work

5 Traits of People Who Always Get Promoted at Work Ever feel like you’re doing all the right things, but watching everyone around you advance while you’re still stuck spinning your wheels? Here are 5 things that successful people- you know, the ones getting all of those promotions every year- seem to have in common.1. They Have a StrategyRather than continuing to apply blindly up the ladder, highly successful (and highly promoted) people tend toward a more strategic approach. They choose jobs not based on simply getting to the next rung up, but on their particular strengths. And they have their next move already in mind. They figure out what their next job should be before applying to a new one. That way they’re always thinking about the skills and experiences they should be building now to move seamlessly towards their next position.2. They Say NoYou may think that you need to say â€Å"yes† to every proposed project in order to get ahead, but that’s not true. Truly successful people (even Warren B uffett) know that picking their projects and their battles- and prioritizing what they need to do to end up where they need to be- is the better strategy. They’re ruthless and discriminating in their choices.3. They Know How to Handle The BossSuccessful people realize their bosses hold the key to their advancement. If a boss is getting in the way, they find a way around it. They work their bosses, using â€Å"we† language and getting involved in what matters most to the person in charge of their next career steps. They challenge their bosses and gain their respect. Consequently, their bosses know when to promote them.4. They Keep Proof of Their SuccessesSuccessful professionals know they need hardcore proof that they are capable for their next job. They’re always strategizing how to work on projects that will impress their next boss as much as their current one. They don’t rest on their laurels or pursue extraneous education. They just build up a laundry list of proof that shows they are ready to take things to the next level.5. They Make an ImpressionThe most successful people understand that, in order to get anywhere in office life, they have to build influence. This doesn’t mean backstabbing or politicking. It just means: comporting themselves with integrity, honesty, and professionalism. They build relationships with the people and institutions that can make a lasting difference in their careers.

Procurement Assignment Example | Topics and Well Written Essays - 500 words - 1

Procurement - Assignment Example erefore, the outdoor sports stores REI might try to use certain strategies at the time of selecting the sources of supply, suppliers, market place and competition. Sources of supply: in order to satisfy the changing needs of the individual, maximum extent of the entrepreneurs of outdoor sport stores REI try to offer best products. Only then, the level of satisfaction rate of the customers might get enhanced thereby amplifying the rate of dominance in the market. However, in order to do so, the entrepreneurs desire to analyze the psychology and perception of the customers through vivid market research and competitor orientation policy. After doing so, the sources of supply are determined by the entrepreneurs of outdoor sports stores REI’s, in order to attract a wide range of customers towards it and to retain them for longer period of time among others (Drummond & Ensor, 2006). Not only this, by market research and customer orientation, the risk of switch over costs might be reduced that may prove extremely effective for the organization in the market among other rival players. Suppliers- as per contracting policy, the suppliers might be selected after signing the document of placing the orders exactly in time and also with exact materials. If the specified time period gets delayed then, the entire order of products might get cancelled along with the contractual document as well. Then, the suppliers may not be offered any sort of orders that might hamper the entire productivity and profitability of the organization. So, the suppliers are selected extremely consciously in order to retain them for longer period of time (Christensen, 2003). Market places- the market places are selected on the basis of the geographical distribution of the area. This is because, if the range of buyers is high, then the rate of sale might also be increased thereby amplifying its total profit margin as well. Similarly, if numerous mass markets, super markets or hyper markets are