American Films in the 1970's Essay Example | Topics and Well Written Essays - 1250 words

American Films in the 1970's - Essay Example Their thematic and stylistic innovations represented a radical break from Hollywood's classic paradigms. The decade saw a revolutionary change in the outlook of film critism also. Films were now being perceived as personal art pieces rather than only commercial blockbusters. Films were no longer evaluated in terms of their stories, but as art works whose style and mise-en-scene were more important than their contents. The 70s witnessed the birth of some of the most inspiring and exhilirating films directed by the greatest of film makers of the era. Nashville a 1975 classic is arguably one of finest films of the century that can be regarded as one of the finest masterpieces of the film making wizard, Robert Atman. Written by Joan Tewkesbury and produced by Robert Atman himself, Nashville features Altman's trademark overlapping dialogue that depicts classic improvisation and film making brilliance. The 159 min overwhelming fantasy, deals beautifully with classical real country music, deftly touching gospel music businesses in Nashville Tennessee. The characters in te film, evolve from real country music figures that material on U.S presidential politics. The film craftilly weaves together multiple storylines that eventually coalesce in the final half-hour in a climactic sequence at the Parthenon in Nashville. The movie widely despised from the mainstream country-music community at the time of its release, with many artists believing it was ridiculing their talent and sincerity. Since then, however, the songs that were mostly composed by the film's actors themselves have achieved a certain popularity in alternative-country circles, well away from the world of the music establishment. Among its many musical sequences, the song "It Don't Worry Me" is the film's theme, heard sporadically throughout and then performed at the climax. The 70s also witnessed the emergence of class film makers such as John Cassavetes. His films such as A Woman under the Influence are hailed as masterpieces despite the fact that they are incorporated with superficiality, gasp, and an in-your-face self-indulgence kind of a feeling. They are also sometimes blamed to carry a blatant artificiality in them. A Woman Under the Influence is one of the most devastating films ever made and is arguably the masterpiece of John Cassavetes' lauded career. with a startling realism, the film depicts supremely the relationship between a housewife on the verge of a nervous breakdown and her blue collared worker husbend. It's a marriage unlike any other seen before on the American screen - Nick (Falk) and Mabel (Rowlands) love each other intensely but that's not enough to keep her from descending into madness. In this shockingly intimate drama, housewife Gena Rowlands suffers a nervous breakdown and Dixit Page 5 her blue-collar construction worker husband, Peter Falk, decides to have her committed.Despite a dramatic theme of insanity, the film doesn't make a melodrama out of Mabel's crazy moments. Instead, painfully long scenes are wittnessed o this family together and with their social circle (particularly his construction work

Choosing Between Debt And Equity Finance Essay

Choosing Between Debt And Equity Finance Essay In financial decisions, the choice between debt and equity financing is one of the most difficult ones. Both types of financing have its advantages and disadvantages. Debt financing is based on borrowing finance, and incurs debts that should be repaid in a certain time. The obligations of the company include repaying the loan and paying interest on the loan until its repaid. Debt financing does not impact the ownership of the business, but might cause high debt servicing costs. On the other hand, equity financing represents the exchange of finance to a part of business ownership; this is commonly done by issuing stocks. Equity financing allows to receive investments without additional payments and does not cause financial concern of investors, like debt financing does. However, since the ownership is shared, the owners have to dilute their decisive power (Grossman Livingstone, 2009), and might even lose control of the company. For the companies, the choice of debt or equity financing is based on many factors, such as size of the company, state and dynamics of the industry, perspectives of the company, debt-to-equity ratio, debt servicing costs etc. The purpose of this essay is to consider the decision of American Superconductor Corporation to shift to equity financing from debt financing, made in 2003. AMSC case American Superconductor Corporation is a company providing wind turbine design, electrical control systems, power systems and superconductive wires (Madura, 2008). It operates mostly in Europe, North America and Pacific Asia. Before 2003, the companys investment policy was based on debt financing; however, in 2003, the decision to forgo a secured debt financing and to adopt an equity financing strategy under current market conditions (Esposito, 2003) was made. The company experienced recession in 2003; in October 2002, its stock prices have fallen to the record level of $2.25, and in 2003, they constituted about $3.36, which was very low compared even to 2002 level of $12.26 (AMSC Stock, 2010). The company needed financing, and their choice was to issue a public equity offering instead of debt financing. This decision was explained as strategic solution based on the consequences of 2003 blackouts, and CEO of American Superconductor, Greg Yurek, forecasted an increased need for their power grids and public attention to better voltage support with dynamic reactive power compensation (Esposito, 2003). The results of first six months of fiscal 2004 year seemed to prove the efficient of the decision to pursue equity financing, since no long-term debt was reported, and $17.4 million revenue in the first two quarters of the year. The company also focused on wind turbines, which were gaining popularity. Wind power in 2007, for example, became the first $30B clean energy industry (Madura, 2008). Current financial position of AMSC shows that its total revenue and gross profit values have significantly increased during the last years (2008-2010 financial information available); the companys gross margin is 39.14% compared to 32.19% in the diversified electronics industry in general (AMSC Stock, 2010). The operating margin is also higher: 14.70% compared to 5.71% industrys operating margin, the EPS is also higher (0.64) than 0.08 average (AMSC Stock, 2010). Although the financial position of AMSC is weaker than that of main competitor, ABB. Ltd., the company managed to override another major competitor, SatCon Technology Corporation. The industry provides a significant development potential, and the stocks of the company were not priced less than $10 since 2007 (AMSC Stock, 2010). Analysis of financial decision The combination of debt and equity financing impacts the companys cost of capital. Debt financing is safer for investors, while equity financing is more risky for investors, but at the same time safer for the company (Grossman Livingstone, 2009). Since debt financing creates contractual obligations, the companies should carefully consider their ability to repay the debts. Debt servicing incurs higher costs than equity financing, and if the company experiences fast growth, it might suffer from high debt servicing expenses. It has also been shown that companies with consistent profit operating in low-risk and slowly growing industries more often opt for debt financing, while companies operating in risky and rapidly changing industries as well as in volatile ones, should choose equity financing since these companies have more opportunities for investments, and would not suffer from underinvestment (Grossman Livingstone, 2009). By 2003, AMSC experienced financial problems and its stocks have dropped in price, but the conditions of the environment indicated the quick growth of interest to AMSC production. It could be forecasted that in some time the company would need significant investments and 2003-2004 was the right time to expand. If AMSC continued debt financing, its growth would be hindered by debt servicing costs and worse stock dynamics. Thus, the decision of AMSC to replace debt financing with equity financing was very appropriate in this situation. Conclusion In order to perform the choice of business financing (debt versus equity), it is necessary to consider the perspectives of the company as well as the nature and dynamics of the industry. In 2003, AMSC was experiencing financial difficulties and its stocks have significantly fallen. However, there were many opportunities for development, and the 2003 blackouts increased the interest to AMSC production. Therefore, the company had strong potential for growth, and needed strong financing source without excess cost increase. Thus, American Superconductor Corporation performed a right decision to stop debt financing, and to issue a public equity offering. The correctness of the decision can be also traced looking at further financial development of the company: AMSC is stably growing, creates new products and shows good progress compared to its competitors.

Our Town Needs a Youth Center :: Argumentative Persuasive Essays

Our Town Needs a Youth Center Smallville Elementary was built in 1919 in order to enrich the lives of the youth in Smallville. It served as a school until 1977, when it was closed and changed to a community center. The purpose of the building, however, remained the same: to enrich the lives of Smallville' youth (Ellis 67). Many years ago, my grandmother took painting lessons in the old Smallville building while I had daycare. It was a perfect blend of young and old. Recently, however, the building has not been used as it was intended. It is now used strictly as a senior center, leaving no place for the young to gather. Now, as a result of youths'being shut out of the only public recreation building, the city can no longer attract new families and the young are turning to crime as their only pastime. The best solution to remedy these problems is to build a youth center for the children and teens of Smallville. What would this much needed facility provide for Smallville? The Bigtown Recreation Center is a great model for Smallville, housing several basketball courts, tennis courts, a weight room, and a swimming pool. The programs conducted at the center include athletic clinics in the summer, swimming, basketball, and tennis lessons, and even fitness training and aerobics. These are all activities nearly every citizen can enjoy. So, if Smallville had a similar recreation center it would benefit the young and old alike. However, our recreation center should provide programs specifically for children and teenagers. Aside from just providing athletic and sports recreation for the youth, we should also provide them with tutoring services, a game room and a lounge were they can just "hang out." The programs that would be provided by our youth center would improve our town in many ways. Smallville is failing as a city because it cannot attract new residents. The town is dying because most of its citizens are elderly; they will soon pass away. The population is decreasing as older citizens die or are sent to nursing homes and no new residents replace them. According to the 1990 Census, the population of Smallville has decreased by nearly 3,000 people in the last ten years. Of the 11,194 people that are left, nearly forty percent are over the age of fifty-five.

Carbon Trading

Carbon Trading: Future Money Making Venture for India Sarika Gupta Assistant Professor, P. M. B. Gujrati Commerce Collage, Indore Abstract Carbon Trading are generated by enterprises in the developing world that shift to cleaner technologies and thereby consumption, consequently reducing their greenhouse gas emissions. For each tone of carbon dioxide (the major GHG) emission avoided, the entity can get a carbon emission certificate which they can sell either immediately or through a futures market, just like any other commodity.The certificates are sold to entities in rich countries, like power utilities, which have targets to achieve and find it cheaper to buy ‘offsetting' certificates rather than do a clean-up in their own backyard. This trade is carried out under a mandated international convention on climate change to help rich countries reduce their emissions. Carbon dioxide, the most important greenhouse gas produced by combustion of fuels, has become a cause of global pa nic as its concentration in the Earth's atmosphere has been rising alarmingly.This devil, however, is now turning into a product that helps people, countries, consultants, traders, corporations and even farmers earn billions of rupees. This was an unimaginable trading opportunity not more than a decade ago. Introduction Carbon Trading are a part of international emission trading norms. They give incentives to companies or countries which emit less carbon. The total annual emissions are capped and the market allocates a monetary value to any shortfall through trading. Businesses can exchange, buy or sell Carbon Credit in international markets at the prevailing market price.India and China are likely to emerge as the biggest sellers and Europe is going to be the biggest buyers of Carbon Credit. India is one of the countries that have ‘credits' for emitting less carbon. India and China have surplus credit to offer to countries that have a deficit. India has generated some 30 mill ion Carbon Credits and has roughly another 140 million to push into the world market. Waste disposal units, plantation companies, chemical plants and municipal corporations can sell the Carbon Credits and make money.Carbon, like any other commodity, has begun to be traded on India’s Multi Commodity Exchange for last 3-4 years. MCX has become first exchange in Asia to trade Carbon Credits. Carbon Trading certify the removal of greenhouse gas from the air or the prevention of greenhouse gas emissions. Each carbon credit is associated with a single tone of carbon dioxide. There are many different kinds of Carbon Trading. How does Carbon Credit save the planet? As nations have progressed we have been emitting carbon, or gases which result in warming of the globe.Some decades ago a debate started on how to reduce the emission of harmful gases that contributes to the greenhouse effect that causes global warming. So, countries came together and signed an agreement named the Kyoto Pr otocol. The Kyoto Protocol has created a mechanism under which countries that have been emitting more carbon and other gases (greenhouse gases include ozone, carbon dioxide, methane, nitrous oxide and even water vapor) have voluntarily decided that they will bring down the level of carbon they are emitting to the levels of early 1990s.Developed countries, mostly European, had said that they will bring down the level in the period from 2008 to 2012. In 2008, these developed countries have decided on different norms to bring down the level of emission fixed for their companies and factories. A company has two ways to reduce emissions. (a) One, it can reduce the GHG (greenhouse gases) by adopting new technology or improving upon the existing technology to attain the new norms for emission of gases. (b) Or it can tie up with developing nations and help them set up new technology that is eco-friendly, thereby helping developing country or its companies ‘earn' credits.India, China a nd some other Asian countries have the advantage because they are developing countries. Any company, factories or farm owner in India can get linked to United Nations Framework Convention on Climate Change and know the ‘standard' level of carbon emission allowed for its outfit or activity. The extent to which I am emitting less carbon (as per standard fixed by UNFCCC) I get credited in a developing country. This is called carbon credit. These credits are bought over by the companies of developed countries mostly Europeans because the United States has not signed the Kyoto Protocol.How does it work in real life? Assume that British Petroleum is running a plant in the United Kingdom. Say, that it is emitting more gases than the accepted norms of the UNFCCC. It can tie up with its own subsidiary in, say, India or China under the Clean Development Mechanism. It can buy the ‘carbon credit' by making Indian or Chinese plant more eco-savvy with the help of technology transfer. It can tie up with any other company like Indian Oil, or anybody else, in the open market. In December 2008, an audit will be done of their efforts to reduce gases and their actual level of emission.China and India are ensuring that new technologies for energy savings are adopted so that they become entitled for more Carbon Trading. They are selling their credits to their counterparts in Europe. This is how a market for carbon credit is created. Every year European companies are required to meet certain norms, beginning 2008. By 2012, they will achieve the required standard of carbon emission. So, in the coming five years there will be a lot of carbon credit deals. Where do Carbon Trading fit in the planet saving action plan? 1. Recognize that everything we do has associated greenhouse gas emissions 2.Reduce your emissions. 3. Offset with fully certified Carbon Trading today (because the planet can't wait) Certification: the difference between carbon offsets and Carbon Trading There are many retailers offering uncertified carbon offsets. Purchasers should avoid carbon offsets that don't come with a certification as they provide no guarantees that you are getting what you are paying for. All certifications are not equal There are many different kinds of certification available globally. Before you buy, make sure that the certification comes from a trusted third party source.For larger orders Carbon Planet can source any kind of certified carbon credit you seek. However, we do recommend our standard premium stock of NGACs. Find out more about our procurement policies we enforce when sourcing Carbon Trading for you to buy. Carbon Planet currently offers 2 different kinds of certified Carbon Credit as standard stock: 1. Forestry Sequestration NGACs from Forests NSW 2. Carbon Saving NGACs from Showerhead and Light bulb replacement. Forestry Sequestration NGACs The New South Wales Greenhouse Abatement Certificate (NGAC) certification process is comprehensive.It incl udes Kyoto Protocol measures, but goes beyond these. In summary the NGAC certification process ensures the following: * That each NGAC represents one tone of carbon dioxide stored for at least 100 years. * That the trees have been planted since 1990. * That the trees weren't planted on old growth forest cleared land (the land must have been clear prior to 1990). * That should the tree from which your carbon credit came come to any harm within 100 years of your purchase e. g. fire, disease, logging; that carbon credit will be replaced immediately from another source. From NSW Government â€Å"When can a forest manager create NGACs† NSW Greenhouse Gas Abatement Scheme Fact Sheet Published: October 2004). Forests NSW's carbon pool is audited annually to ensure that every carbon credit issued corresponds to one tonne of carbon dioxide removed from the atmosphere for 100 years. Carbon Saving NGACs Carbon Planet's current stock of Carbon Saving NGACs is generated from shower head a nd light bulb replacement. This is called Demand Side Abatement. The NGAC certification ensures, with a high level of confidence, that at least one tonne of carbon dioxide equivalent has been saved per carbon credit.Thus by purchasing a monthly subscription of NGAC Carbon Trading, you can continuously erase your CO2 footprints. Procedure of trading in carbon: (i) What is Clean Development Mechanism? Under the CDM you can cut the deal for carbon credit. Under the UNFCCC, charter any company from the developed world can tie up with a company in the developing country that is a signatory to the Kyoto Protocol. These companies in developing countries must adopt newer technologies, emitting lesser gases, and save energy.Only a portion of the total earnings of Carbon Trading of the company can be transferred to the company of the developed countries under CDM. There is a fixed quota on buying of credit by companies in Europe. (ii) How does MCX trade Carbon Credits? This entire process was not understood well by many. Those who knew about the possibility of earning profits, adopted new technologies, saved credits and sold it to improve their bottom line. Many companies did not apply to get credit even though they had new technologies. Some companies used management consultancies to make their plan greener to emit less (Green House Gas) GHG.These management consultancies then scouted for buyers to sell Carbon Trading. It was a bilateral deal. However, the price to sell Carbon Trading at was not available on a public platform. The price range people were getting used to was about Euro 15 or maybe less per tone of carbon. Today, one tone of carbon credit fetches around Euro 22. It is traded on the European Climate Exchange. Therefore, you emit one tone less and you get Euro 22. â€Å"Emit less and increase/add to your profit† MCX is the futures exchange of India. People here are getting price signals for the carbon for the delivery in next five years.The exchange is only for Indians and Indian companies. Every year, in the month of December, the contract expires and at that time people who have bought or sold carbon get or take delivery. They can fulfill the deal prior to December too, but most people wait until December because that is the time to meet the norms in Europe. The MCX decides to trade Carbon Credit because they are into futures trading. Let people decide, if they want to hold on to their accumulated Carbon Credit or sell them now. If the buyer thinks that the current price is low for him, he can wait before selling his credits.The Indian government has not fixed any norms nor has it made it compulsory to reduce carbon emissions to a certain level. So, people who are ready to buy from Indians are actually financial investors. They think that if the Europeans are unable to meet their target of reducing the emission levels by 2009 or 2010 or 2012, then the demand for the carbon will increase and then they can make more money. So the investors are willing to buy now to sell later. There was a huge requirement of Carbon Trading in Europe before 2012. There are parameters set and detailed audit is done before you get the entitlement to sell the credit.In India, already 300 to 400 companies have Carbon Trading after meeting UNFCCC norms. Only those Indian companies that meet the UNFCCC norms and take up new technologies will be entitled to sell Carbon Trading. Till MCX came along, these companies were not getting best-suited price. Some were getting Euro 15 and some were getting Euro 18 through bilateral agreements. When the contract expires in December, it is expected that prices will be firm up then. On MCX we already have power, energy and metal companies who are trading. These companies are high-energy consuming companies. They need better technology to emit less carbon.These Carbon Trading are with the large manufacturing companies who are adopting UNFCCC norms. Retail investors can come in the market and buy the contract if they think the market of carbon is going to firm up. Like any other asset they can buy these too. It is kept in the form of an electronic certificate. The registry and the ownership travel from the original owner to the next buyer. In the short-term, large investors are likely to come and later banks are also expected to get into the market too. This business is a function of money, and someone will have to hold on to these big transactions to sell at the appropriate time.Price Determination Like in the case of any other asset, its price is determined by a function of demand and supply. Now, norms are known and on that basis European companies will meet the target between December 2008 and 2012. People are wondering how much credit will be available in market at that time. As December gets closer, it is possible that some government might tinker with these norms a little if the targets could not be met. If these norms are changed, prices can go through a correcti on. But, as of now, there is a very transparent mechanism in which the norms for the next five years have been fixed.Governments have become signatories to the Kyoto Protocol and they have set the norms to reduce the level of carbon emission. Already companies are on the way to meet their targets. It is a safe market because it is a matter of having more information on the extent of demand and supply of carbon credit market. Analyzing Indian Scenario India being a developing country has no emission targets to be followed. However, she can enter into CDM projects. As mentioned earlier, industries like cement, steel, power, textile, fertilizer etc. emit green houses gases as an outcome of burning fossil fuels. Companies investing in Windmill,Bio-gas, Bio-diesel, and Co-generation are the ones that will generate Carbon Credit for selling to developed nations. Polluting industries, which are trying to reduce emissions and in turn earn Carbon Credit and make money include steel, power ge neration, cement, fertilizers, waste disposal units, plantation companies, sugar companies, chemical plants and municipal corporations. Delhi Metro Rail Corporation (DMRC) A must mention project is The Delhi Metro Rail Corporation (DMRC): It has become the first rail project in the world to earn Carbon Credit because of using regenerative braking system in its rolling stock.DMRC has earned the Carbon Credit by using regenerative braking system in its trains that reduces 30% electricity consumption. Whenever a train applies regenerative braking system, the released kinetic energy starts a machine known as converter-inverter that acts as an electricity generator, which supplies electrical energy back to the Over Head Electricity (OHE) lines. This regenerated electrical energy that is supplied back to the OHE that is used by other accelerating trains in the same service line. DMRC can now claim 400,000 CERs for a 10-year crediting period beginning December 2007 when the project was reg istered by the UNFCCC.This translates to Rs 1. 2 crore per year for 10 years. India has the highest number of CDM projects registered and supplies the second highest number of Certified Emission Reduction units. Hence, India is already a strong supplier of Carbon Credit and can improve it. BENEFITS FOR INDIA By, switching to Clean Development Mechanism Projects, India has a lot to gain from Carbon Trading: a) It will gain in terms of advanced technological improvements and related foreign investments. b) It will contribute to the underlying theme of green house gas reduction by adopting alternative sources of energy. ) Indian companies can make profits by selling the CERs to the developed countries to meet their emission targets. TRADING OF CERS: †¢ As a welcome scenario, India now has two Commodity exchanges trading in Carbon Credit. This means that Indian Companies can now get a better trading platform and price for CERs generated. †¢ Multi Commodity Exchange (MCX), Indi a’s largest commodity exchange, has launched futures trading in Carbon Credit. The initiative makes it Asia's first-ever commodity exchange and among the select few along with the Chicago Climate Exchange (CCE) and the European Climate Exchange to offer trades in Carbon Credit.The Indian exchange also expects its tie-up with CCX which will enable Indian firms to get better prices for their Carbon Trading and better integrate the Indian market with the global markets to foster best practices in emissions trading. †¢ On 11th April 2008, National Commodity and Derivatives Exchange (NCDEX) also has started futures contract in Carbon Trading for delivery in December 2008. †¢ MCX is the futures exchange. People here are getting price signals for the carbon for the delivery in next five years. The exchange is only for Indians and Indian companies.Every year, in the month of December, the contract expires and at that time people who have bought or sold carbon will have to g ive or take delivery. They can fulfill the deal prior to December too, but most people will wait until December because that is the time to meet the norms in Europe. If the Indian buyer thinks that the current price is low he will wait before selling his credits. The Indian government has not fixed any norms nor has it made it compulsory to reduce carbon emissions to a certain level. So, people who are coming to buy from Indians are actually financial investors.They are thinking that if the Europeans are unable to meet their target of reducing the emission levels by 2009, 2010 or 2012, then the demand for the carbon will increase and then they may make more money. So investors are willing to buy now to sell later. There is a huge requirement of Carbon Trading in Europe before 2012. Only those Indian companies that meet the UNFCCC norms and take up new technologies will be entitled to sell Carbon Trading. There are parameters set and detailed audit is done before you get the entitlem ent to sell the credit. Financing support in India: †¢ Carbon Trading projects requires huge capital investment.Realizing the importance of Carbon Trading in India, The World Bank has entered into an agreement with Infrastructure Development Finance Company (IDFC), wherein IDFC will handle carbon finance operations in the country for various carbon finance facilities. †¢ The agreement initially earmarks a $10-million aid in World Bank-managed carbon finance to IDFC-financed projects that meet all the required eligibility and due diligence standards. †¢ IDBI has set up a dedicated Carbon Credit desk, which provides all the services in the area of Clean Development Mechanism/Carbon Credit (CDM). In order to achieve this objective, IDBI has entered into formal arrangements with multi-lateral agencies and buyers of Carbon Trading like IFC, Washington, KfW, Germany and Sumitomo Corporation, Japan and reputed domestic technical experts like MITCON. †¢ HDFC Bank has sig ned an agreement with Cantor CO2E India Pvt. Ltd and MITCON Consultancy Services Limited (MITCON) for providing carbon credit services. As part of the agreement, HDFC Bank will work with the two companies on awareness building, identifying and registering Clean Development Mechanism (CDM) and facilitating the buy or sell of Carbon Credit in the global market.International moves to promote energy self-sufficiency and cut carbon emissions will create a unique opportunity for innovative start-ups to emerge as key infrastructure players over the next few years. The transition to a low-carbon economy will spark a period of historic flux within the business community, characterized by fast-emerging companies and heightened mergers and acquisition activity across the clean tech sector.The global trade in Carbon Credits has taken off fairly well with the turnover going up from $11 billion in 2005 to $118 billion in 2008. Carbon markets investments planned have exceeded all expectations. But the resistance to the idea seems to be gathering steam with many in the developed countries pointing out procedural deficiencies and arguing that Carbon Credits will confer unfair advantages on companies in developing countries like China and India, the major sellers of carbon credit.But despite growing opposition, the concept of Carbon Credits continues to soar steadily, boosting the number of emission-reducing projects in the pipeline from 490 in end-2005 to 4,782 in November 2009, and pushing up the total Carbon Credit supply from 704 million CERs to 2,820 million CERs during the period. One reason the concept of Carbon Credits has gained popularity is its ability to create a political alliance of forces on opposing sides like Left-wing environmentalists and free market proponents.While the former believe that the polluters have no significant incentives for self-regulation and have to be curbed through government intervention, the latter believe that such command and control in tervention would wreak havoc and that the market would eventually offer an optimal solution. Carbon trading regulations helped break the impasse by providing a clear target that the environmentalists could embrace, while at the same time favoring the market mechanism over governmental regulation as advocated by the Right.An added advantage of the Carbon Credits is that it optimizes investments in emission-reduction projects by encouraging projects in countries where the cost of reducing emissions is the least, which generally goes in favor of developing countries. Countries like India have favored carbon trade, as it offers a win-win situation for both entrepreneurs and the broader society. While innovative companies that help reduce emissions are provided with Carbon Credits, which they can encase to boost viability or earn profits, the gains to society accrue in the form of a smaller destabilizing impact on the environment.Opportunities for carbon-efficient companies in India IFC and Standard ; Poor’s have launched the world’s first carbon-efficient index for emerging markets that aims to mobilize more than $1 billion for carbon-efficient companies over the next three years. The innovative S;P/IFC Carbon Efficient Index will encourage carbon-based competition among emerging-market companies, give carbon-efficient companies access to long-term investors, and should help reduce carbon emissions in developing countries. The index was developed by S;P using carbon data provided by environmental data provider Trucost.IFC provided financial support to the S;P/Trucost consortium to accelerate the carbon research on emerging-market companies, and it provided technical support to help validate and refine the methodology. The rollout of smart grid and renewable energy technologies will also usher in transformative alliances between automakers, utilities, battery makers, communications providers and renewable energy firms as they each seek to play a role in the development of integrated low-carbon infrastructure projects.Companies that identify their roles and capitalise on these new alliances earliest will establish sizable leads in nascent clean technology markets. New forms of public-private partnerships will be necessary in creating a ubiquitous, national smart grid, but these new models of collaboration must be closely managed to ensure technologies are rolled out quickly and effectively. Underpinning these clean technology transformations is increased support from the investment community Referances * Mathews, John A. 2008) â€Å"How Carbon Credits could drive the emergence of renewable energies†http://ideas. repec. org/a/eee/enepol/v36y2008i10p3633-3639. html * www. rediff. com/money/2008/feb/05inter. * www. carbontrading. com/c/ * ions Trading; Joint Implementation; Clean Development Mechanindex. php%3Fa†¦ – Cached – Similar * Carbon Tredits India. Emissism (CDM) †¦ India has generated approxim ately 30 Million Carbon Credits and approximately www. globaladvisors * Carbon Credits; by Garg A . in Chartered Secretary November , 2009. * National solid waste of India . News letter, February 2007.

Bacon

â€Å"Of Studies† by Francis Bacon An analysis The purpose of this work is to analyze Sixteen Century Francis Bacon’s essay â€Å"Of Studies† by summarizing its main points and the relevance of its statements to this day. Francis Bacon was an English Philosopher and writer best known as a founder of the modern empirical tradition based on the rational analysis of data obtained by observation and experimentation of the physical world. The main focus of Bacon’s essay rests on explaining to the reader the importance of study knowledge in terms of its practical application towards the individual and its society.His first analysis is an exposition on the purposes or uses that different individuals can have by approaching Study –â€Å"†¦for delight, ornament, and for ability†- And how certain professions are better served by individuals with study knowledge. As he mentions the virtues of Study he also points out its vices: –â€Å"To sp end too much time in study is sloth†¦Ã¢â‚¬  Also, how Study influences our understanding of Nature, and in opposition, how our experience of Nature bounds our acquired knowledge.After that, the Author presents the concept of how different individuals with different mental abilities and interests in life, approach the idea of studying –â€Å"Crafty men contemn studies†¦Ã¢â‚¬ - and offers advice on how study should be applied: –â€Å"†¦but to weight and consider†- Then Bacon goes into expressing his ideas in how the means to acquire study knowledge, books, can be categorized and read according to their content and value to the individual. The benefits of studying are Bacon’s final approach.Benefits in terms of defining a â€Å"Man† by its ability to read, write or confer, and in terms of being the medicine for any â€Å"impediment in the wit† and by giving â€Å"receipts† to â€Å"every defect of the mind†. Cert ainly, some of Francis Bacon’s insights in this subject are of value after 400 years of societal evolution. We can ascertain this when we read the phrase â€Å"They perfect Nature, and are perfected by experience†¦Ã¢â‚¬  Nevertheless some of the concepts expressed in his Essay have to be understood through the glass of time.By this I mean Society values and concepts were different altogethers to what we know today. By that time Society was strongly influenced by the idea of literacy and illiteracy (relatively few were educated and could read and write). Only educated people had access to knowledge and by that, to social status and opportunity. Nowadays would be difficult to accept ideas which relate skills or professions towards an attitude to approach studying. Today, a skilled machinist or carpenter can certainly be a studied person.Nowadays most people in our Society have the possibility to read and by that, to obtain knowledge independently of what our personal cho ices are in terms of profession. Also we must consider how today we value the specialization of knowledge which in the past, characterized by a more generic and limited access to knowledge, wasn’t a major factor into the conceptualization and understanding of study knowledge as to the extent we see it today. Finally, it is doubtful that the benefits of studying can be approached as a recipe for any â€Å"intellectual illness†.We now know that the real illnesses are related to mental conditions and not necessarily to our mental skills, abilities or lack of them and by that I mean that Bacon’s solutions to those conditions are substantially naive under the actual understanding of Human Psychology. Concepts and ideas evolve at the same time as the Human condition changes in all social, scientific, political and economic aspects. By looking through the glass of time and comparing the past to the present we come to the realization of the universality and endurance of some concepts and the fragility and impermanence of some others.

Third Battle of Winchester - Battle of Opequon - Civil War

Third Battle of Winchester - Battle of Opequon - Civil War Third Battle of Winchester - Conflict Date: The Third Battle of Winchester was fought September 19, 1864, during the American Civil War (1861-1865). Armies Commanders Union Major General Philip Sheridanapprox. 40,000 men Confederate Lieutenant General Jubal A. Earlyapprox. 12,000 men Third Battle of Winchester - Background: In June 1864, with his army besieged at Petersburg by Lieutenant General Ulysses S. Grant, General Robert E. Lee dispatched Lieutenant General Jubal A. Early to the Shenandoah Valley.   It was his hope that Early could reverse Confederate fortunes  in the area which had been damaged by Major General David Hunters victory at Piedmont  earlier in the month as well as  divert some Union forces away from Petersburg.   Reaching Lynchburg, Early  succeeded in  compelling  Hunter to withdraw into West Virginia and then advanced down  (north) the Valley.   Crossing into Maryland, he defeated a scratch Union force at the Battle of Monocacy on July 9.  Ã‚  Responding  to this crisis, Grant directed VI Corps north from the siege lines to reinforce Washington, DC.   Though Early menaced the capital later in July, he lacked the forces to assault the Union defenses.   With little other choice, he retreated back to the Shenandoah. Third Battle of Winchester - Sheridan Arrives: Tired of Earlys activities, Grant formed the Army of the Shenandoah on August 1 and appointed Major General Philip H. Sheridan to lead it.   Comprised of Major General Horatio Wrights VI Corps, Brigadier General William Emorys XIX Corps, Major General George Crooks VIII Corps (Army of West Virginia), and three  divisions of cavalry under Major General Alfred Torbert,  this new command received orders to destroy Confederate forces in the Valley and render the  region useless as a source of supplies for Lee.   Advancing from Harpers Ferry, Sheridan initially showed caution and probed to test Earlys strength.   Possessing four  infantry and two cavalry divisions, Early mistook Sheridans early  tentativeness as  over-caution and allowed his command to be strung out between Martinsburg and Winchester. Third Battle of Winchester - Moving to Battle: Learning that Earlys men were dispersed, Sheridan elected to drive on Winchester which was held by Major General Stephen D. Ramseurs division.   Warned of the Union advance, Early worked feverishly to reconcentrate his army.   Around 4:30 AM on September 19,  the lead  elements of Sheridans command pushed into the  narrow confines of Berryville Canyon east of Winchester.   Seeing an opportunity to delay the enemy, Ramseurs men blocked the canyons western exit.   Though ultimately driven back by Sheridan, Ramseurs action bought time for  Early to gather Confederate forces in Winchester.   Advancing from canyon, Sheridan neared the town but was not ready to attack until around midday. Third Battle of Winchester - Striking Early: To defend Winchester, Early deployed the divisions of Major Generals John B. Gordon, Robert Rodes, and Ramseur in a north-south line to the east of the town.   Pressing west, Sheridan  prepared to attack with VI Corps on the left and elements of XIX Corps on the  right.   Finally in position at 11:40 AM, Union forces commenced their advance.   While Wrights  men moved forward along the Berryville Pike, Brigadier General Cuvier Grovers division of XIX Corps stepped off  from a woodlot known as First Woods and crossed an open area dubbed Middle Field.   Unknown to Sheridan, Berryville Pike slanted  south and a gap soon opened between VI Corps right flank and Grovers division.   Enduring severe artillery fire, Grovers men charged Gordons position and began to drive them from a stand of trees  named Second Woods (Map). Though he attempted to halt  and consolidate his men in the woods, Grovers troops impetuously charged through them.   To the south, VI Corps began to make headway against Ramseurs flank.   With the situation critical, Gordon and Rodes quickly organized a series of counterattacks to save the Confederate position.   As they moved troops forward, the latter was cut down by an exploding shell.   Exploiting the gap between VI Corps and Grovers  division, Gordon reclaimed Second Woods and forced the enemy back  across Middle Field.   Seeing the danger, Sheridan worked to rally his men while pushing the divisions of Brigadier Generals William Dwight (XIX  Corps) and David  Russell (VI Corps) into the gap.   Moving forward, Russell fell when a shell exploded near him and command of his division passed to Brigadier General Emory Upton. Third Battle of Winchester - Sheridan Victorious: Stopped by the Union reinforcements, Gordon and the Confederates retreated back to the edge of Second Woods and for the next two hours the sides engaged in long-range skirmishing.   To break the stalemate, Sheridan directed VIII Corps to form on the Union right astride Red Bud Run, with the division of Colonel Isaac Duval to the north and that of Colonel Joseph Thoburn to the south. Around 3:00 PM,  he issued orders for the entire Union line to advance.   On the right, Duval fell  wounded  and command passed to future president Colonel Rutherford B. Hayes.   Striking the enemy, Hayes and Thoburns troops caused Earlys left to disintegrate.   With his line collapsing, he ordered his men to fall back to positions closer to  Winchester. Consolidating his forces, Early formed an L-shaped line with the left bent back to face the advancing men of VIII Corps.   Coming under coordinated attacks from Sheridans troops, his position became more desperate when Torbert appeared north of town with the cavalry divisions of Major General William Averell and Brigadier General Wesley Merritt.   While Confederate  cavalry, led by Major General Fitzhugh Lee, offered resistance at Fort Collier and Star Fort, it was slowly driven back by Torberts superior numbers.   With  Sheridan about to overwhelm his position and Torbert threatening to surround his army, Early saw no choice  but abandon  Winchester  to retreat south. Third Battle of Winchester - Aftermath: In the fighting at the Third Battle of Winchester, Sheridan sustained 5,020 killed, wounded, and missing while the Confederates incurred 3,610 casualties.  Ã‚  Beaten and outnumbered, Early withdrew twenty miles  south to Fishers Hill.   Forming a new  defensive position, he came under attack from Sheridan two days later.   Beaten in the resulting  Battle of Fishers Hill, the Confederates again retreated, this time to Waynesboro.   Counterattacking on October 19, Early struck Sheridans army at the Battle of Cedar Creek.   Though successful early in the fighting, strong Union counterattacks effectively destroyed his army in the afternoon. Selected Sources: Civil War Trust: Third Battle of WinchesterThird Battle of Winchester

Shutdown At Eastland Essays

Shutdown At Eastland Essays Shutdown At Eastland Essay Shutdown At Eastland Essay A city-wide announcement of the plant’s closing due to failing sales, stock reduction, and inconsistency with the economy’s change. An employment renewal contract can be issued to older workers whom wish to relocate to other plants within the nation. This could present the company as an affectionate and ethical organization that is concerned of Northland’s health (Bowie Beauchamp,1993, p.98).The re-investment in the town or an employee benefit program could help displaced workers with financial vulnerability once MG closes. Press Conference Addressing Issue On the other hand, MG should host a press conference or city meeting to hear the voices of the community. Our company’s presence has helped Northland become what it is today.   The citizens deserve a right to argue their position of what the company could do to their town. We, MG, may run into issues of petitions, an economic shift within the city, and possibly a deserted town once jobs are lost (Bowie Beauchamp, 1993, p.99). If we are not to remain functioning, I believe the town’s people should have a chance to redeem themselves. Northland’s Economic Climate The city of Northland may suffer from the closing of the manufacturing plant. The economic climate changes with the progress of the plant; negative affects of lost revenue could harm the city. With over 3,700 employees, Northland’s 26,000 city population risks a town losing its substance (Bowie Beauchamp,1993, p.98). In retrospect, the city of Northland developed with the process of MG’s performance over the years. Our consideration of their efforts to increase revenue, supply jobs, and harbor the workings of a system outweighs cut profits. Northland’s city will not be able to suffice a huge lost as 3,000+ jobs are taken from its citizens (Bowie Beauchamp, 1993, p.99). As an organization of integrity, can MG handle such an impression placed on a community due to profit loss? The numbers or a team of engineers should come into to re-evaluate the current operations to secure more funding for renovation. MG and Northland Response MG should enlist the laid off employees into an unemployment benefits to accommodate their lost salary. City officials may propose a solution as well through press conferences and company events within the community. Organize meetings for each shift of workers to discuss the current position of the company in its industry. Their input could be valuable in finding the proper solution to increase sales, prepare investment strategies, or declare implausible by reports. Announcement to corporate office of the decision to close the plant may save the company money. Its other issues involve finding a business to replace its capacity within the Northland community. Leave With Dignity Host a farewell community event where workers can have an opportunity to discuss their take on the issue so the decision to close may be resolved. An investment of $9.6 million could save the community and many jobs for the current employees (Bowie Beauchamp, 1993, p.99).MG’s position as a mini-van manufacturer may keep it in the sloping profits if it continues to create product. An annual report on the company’s change or increased sales could sway the public’s opinion of closing the plant.