Responsible Borrowing Worksheet Essay

Many students borrow federal student loans to pay for college. The goal of this assignment is to help you learn how to borrow responsibly, which may mean that you do not borrow at all or that you borrow only what you truly need. To borrow responsibly, you must understand your options and establish a financial plan for your entire program. With that plan in place, you can then focus on your classes and making connections with instructors and other students. There are three steps listed below for this assignment. Respond to the questions for each step in this worksheet only and submit your completed document to the Assignment Files tab. Step 1 Watch the â€Å"Responsible Borrowing (Financial Aid)† video on the orientation website located here: http://www.phoenix.edu/student-orientation.html. Respond to the following three questions in the spaces provided below: What is financial aid? How do grants differ from loans? What effect does class attendance have on funding availability? Step 2 Navigate to the Personal Finance category of the GEN/127 PhoenixConnect ® Community. Explore the resources provided and view some of the discussions shared by the community members. Respond to the following two questions in the spaces provided below: What did you find about student loan repayment plans? Why is having an educational financial plan important? Step 3 Access the Financial Plan at www.phoenix.edu/financialplan. Enter your program and respond to the questions. Explore the information about options for payment, reducing cost, and military students (if applicable). If you have already completed the plan as part of the enrollment process, you can use those results for this step. Respond to the following two questions in the spaces provided below: Based on this plan, what is your estimated monthly payment when you enter repayment? As a result of completing the plan, what changes can you make to reduce the amount you may borrow? Why?

The importance of branding in service companies

Branding plays a particular function in service companies because strong trade names addition clients ‘ trust of the unseeable purchase. Strong brands enable clients to better visualise and understand intangible merchandises. They cut down clients ‘ perceived pecuniary, societal, or safety hazard in purchasing services, which are hard to measure anterior to buy. Strong trade names are the alternates when the company offers no cloth to touch, no pants to seek on, no Citrullus vulgariss or apples to size up, no car to test-drive. In packaged goods, the merchandise is the primary trade name. However, with services, the company is the primary trade name. The venue of trade name impact differs for services because they lack the tangibleness that allows packaging, labeling, and exposing. It is non possible to box and expose an amusement or transit service in the same manner as Kodak bundles and shows movie. A comprehensive reappraisal of literature on research stuffs, articles and rating studies is done to measure the argument how pupils choose universities. Aesop ‘s fabrication of the difference between the North Wind and the Sun as to which was the strongest provides a good reminder that soft power can fit, every bit good as surpass, difficult power. You may retrieve that it was the Sun ‘s heat that caused the traveller to take his coat instead than the beastly force of the air current ‘s power. There are lessons here for modern-day organisations which might neglect to acknowledge the strength and strategic importance of their corporate trade name and the importance of client, employee and stakeholder ( corporate trade name ) designation. This is particularly the instance in higher instruction ( HE ) where pupil designation with a corporate brand/identity appears to be of considerable importance and, sometimes, high emotional engagement. ( John & A ; Mei-Na, 2007 ) When I applied to my university some 30 old ages ago, the inquiry was instead â€Å" academic † : did I desire to travel to a university near to place or one farther off? Assorted factors led me to come to the decision that I would use to a school 1,000 stat mis from the inadvertence of my parents, but in an country where I had extended household. The logic, principle, and analysis that goes into today ‘s college admittance procedure is much more complex with well more information and tools available to â€Å" assist † a pupil do a good choice. ( David, 2007 ) Greater competition among schools exists today to pull the best and brightest pupils. A university is no Longer merely an establishment of higher acquisition but besides a concern. In a competitory market place, consciousness of concern prosodies becomes more critical. ( David, 2007 ) Assorted corporate selling schemes are being employed in the academic universe as universities search for ways to better ranking. ( David, 2007 ) Teachers are professionals who use their cognition and experience to help their pupils as clients and who act in conformity with a set of values so that their behavior towards these clients is both ethical and professional. Their concerns are normally with the quality of educational experience which they provide to pupils and merely seldom and reluctantly with the commercial or selling facets of their work. Yet the latter provide important restraints on resources which necessarily affect results. ( Janet & A ; Hugh, 1996 ) Selling is a doctrine of direction through which establishments consider argument and clear up their implicit in rules and intents to run into the demands of their clients. Educational selling requires the designation of pupil and community demands and a committedness to run intoing those demands with a high quality merchandise. ( Janet & A ; Hugh, 1996 ) The facet of selling which seems to do most offense in schools is that which relates to selling. It is thought to be unprofessional, if non unethical, for professional callings to seek to pull usage when their inexplicit professional codifications emphasize looking after people selflessly. On the other manus, clients and possible clients may necessitate to cognize the quality of a school ‘s product/process and the competency of its staff if they are to do sound picks about how best to run into their ain demands. School prospectuses and unfastened yearss give parents some footing for informed picks every bit good as being agencies of giving them some history of how good a school is looking after their kids. ( Janet & A ; Hugh, 1996 ) Universities can better pupil keeping ( i.e. go oning with the same university after the undergraduate ) by trying to increase their degree of satisfaction ; their attempts will be more effectual if focused on showing the manner that the service provided has helped their clients to accomplish their aims, therefore foregrounding the strategic importance of the societal value. University administration can set about schemes to accomplish greater client trueness and higher ingestion of the service and get more clients. ( Luca & A ; Salvatore, 2010 ) Students do non see traditional university promotional tools such as the web site, prospectus and other written stuff as important in their pick and determination devising, since they find the information provided through these channels as unequal, misdirecting or non trustworthy for their determination devising. Therefore, universities should see other ways to advance themselves on the market. University promotional messages need to put accent on issues pupils find most of import to them and non issues universities think are most of import to pupils. This implies that the more favourable the pupils ‘ perceptual experience of the repute the higher the pupil ‘s trueness. In order to increase pupil satisfaction and trueness, directors of the universities should concentrate on facets such as service quality, information and installations. Since service quality is strongly linked to value creative activity ( student satisfaction ) , this ancestor should be the first one consi dered. ( Luca & A ; Salvatore, 2010 ) Universities are going more aggressive in their selling activities and demand to be clear about their placement and the image they want to convey to their public. An appropriate selling mix can be developed which non merely takes into history environmental factors, but besides an designation of pupil demands and the ability of the establishment to run into these demands. In peculiar, the university pick depends on two different classs of elements: the university related factors and the pupil related 1s. However, the two overlapping countries of instruction reflect on such a categorization. In fact, these two classs are in return interrelated and the weight of each on the value formation depends on the kineticss of the relationship between university and its pupils. ( Luca & A ; Salvatore, 2010 ) The strategic end of most organisations is to set up a corporate individuality that will be both feasible in the market place and accepted by society, and to make a consistent corporate image that meets the demands of all groups of stakeholders. Corporate individuality is constructed internally by stakeholders of the organisation. ( Tamilla, Russell & A ; William, 2009 ) In order to vie in the market place for the best pupils, qualified module and staff, every bit good as givers, universities should hold a strong corporate trade name. The consonant relationship between corporate individuality and corporate image for the multiple stakeholders at the multiple-campus system can be a ambitious undertaking. The clear definition of the university trade name combined with the strong leading is one of the of import facets to be successful. Higher instruction provides many similar â€Å" merchandises. † Universities with strong historical and cultural bequests have benefits in offering a clear foundation for their corporate stigmatization attempts. The alliance between corporate stigmatization, which consists of the corporate individuality and sensed corporate image and repute, and organisational civilization contribute to awareness among all stakeholders about who the university is and what it stands for. The internal credence of the revised trade nam e at all degrees plays a critical function in advancing the corporate trade name to external stakeholders and doing the establishment sustainable in the long tally. ( Tamilla et al, 2009 ) Educational establishments including schools and universities will be good served through utilizing corporate stigmatization schemes, as opposed to merchandise stigmatization schemes. For intangible merchandises such as instruction, corporate trade names involve and engage all stakeholders, including pupils, parents, the community, the authorities, and employees, amongst others. Through corporate stigmatization, the image of the organisation, as opposed to the properties of a merchandise ( instruction ) is used to distinguish the organisation, and construct the value of an educational establishment. ( Joo-Gim & A ; Michael, 2008 ) Ann and Jingsong consider the difference and interrelatedness between the construct of repute and trade name within the context of higher instruction. Owing to the nature of instruction and frequently intangible and latent results, it is hard for pupils to decode repute although it is frequently one of the cardinal indexs for prospective pupils ( and their parents ) to take a university. Percept of equity, leading and quality of an establishment are more of import in act uponing devouring behaviour. ( Ann & A ; Jingsong, 2010 ) Ann and Jingsong findings confirmed old research that university repute played a cardinal function in prospective pupils ‘ decision-making procedure and trade name consciousness. In peculiar, trade name trust in the university had a positive consequence on community ‘s sentiment of a prospective college. Furthermore, it may be concluded that the community construed the repute of instruction suppliers without sing their demographic background. ( Ann & A ; Jingsong, 2010 ) The survey by Rehnuma, Roger & A ; Sharmila asked 25 university selling and communications managers and directors in London and the south E of England to sketch what they believed immature people who were sing come ining university regarded as representing the chief elements of a university trade name. The respondents suggested that possible pupils perceived the being of six major constituents of an establishment ‘s trade name, many of which had analogues within the academic literature in the field, via ‘ambience ‘ , e.g. being friendly, inviting, advanced, earthy or ‘for people like me ‘ , location, grade of diverseness, and factors to make with ocular imagination, and with employability. Peoples in station 1992 universities viewed the grade of the diverseness of an establishment ‘s pupil organic structure to stand for an highly of import portion of its trade name, as this was perceived by prospective recruits. Other critical elements were stated to affect the scope of the classs offered by a peculiar university, repute, and community links. In Positions on the constituents of a university trade name 27 answer to prompted inquiries, the respondents by and large agreed that an establishment ‘s acquisition environment and athleticss and societal installations besides comprised important constituents of a university trade name. ( Rehnuma, Roger & A ; Sharmila, 2008 ) Positive trade name equity is the selling advantage that accrues to a company from the synergism of trade name consciousness and trade name significance. Despite the sensitivity to believe of Branding in the context of touchable merchandises, trade name cultivation is merely every bit critical for services. Strong brands addition clients ‘ trust of unseeable merchandises while assisting them to better understand and visualise what they are purchasing. Strong-brand service companies consciously pursue peculiarity in executing and pass oning the service, usage stigmatization to specify their ground for being, link emotionally with clients, and internalise the trade name for service suppliers so that they will construct it for clients. ( Leonard, 2000 ) Every university considers itself ace. But excessively many schools dilute their select stature by concentrating their brand-development attempts on bad advertisement or other reactionist attacks. Those universities that win in their stigmatization attempts are willing to borrow schemes from the corporate universe and acquire buy-in by prosecuting all interested components in the procedure. A sound solution is based on a long-run scheme: edifice a sustainable trade name. ( Rex, 2009 )Chapter 3Industrial AnalysisIndustrial AnalysisTheA instruction industryA consists of schools, colleges, universities and assorted private establishments. The instruction sector can be loosely classified into following classs: Elementary & A ; Secondary: This includes the instruction offered from baby's room to the twelfth class by assorted public, private and spiritual schools. Higher instruction: This includes assorted state-run and private colleges and universities. This besides includes Med Schools, Law Schools and Business Schools. Vocational instruction: This includes industry/job oriented instruction, based on the apprenticeship method of acquisition. The instruction industry is non merely restricted to these classs. It besides includes auxiliary instruction services, such as after-school tutoring, licence schools, particular or alternate instruction, educational content providers and professional development of decision makers and instructors. Literacy is the acquisition of basic accomplishments of reading, composing and numeracy. In other words, Literacy is the meaningful acquisition, development and usage of the written linguistic communication. In Pakistan, the definition of literate is structured at the clip of Population Census. In the 1998 Population Census, a literate individual has been defined as â€Å" One who can read newspaper and compose a simple missive in any linguistic communication † . As per Survey 2007 the estimated literacy Rate has comes to 56 % in 2007.History of the Education IndustryEducation has been practiced since clip immemorial to transfuse societal and cultural values. In the ancient times, the instruction system was verbal, carried out by and large by the seniors of the household. The authorship system developed around 3500 BC, enabling the recording and sharing of information. In most ancient societies, the province of literacy was black for centuries. The instruction industry was ab initio associated with jurisprudence, trade and commercialism, faith and civil disposal. Formal instruction was available to merely a little fraction of the population. The system developed in most states after 1850 CE. The modern instruction industry consists of preparation by professionals and organized instructions with regard to systematic course of study and teaching method.Demand & amp ; Supply Drivers of the Education IndustryThe demand drivers of the instruction sector include: Household disposable income. Cost of instruction. Opportunity cost of instruction ( instruction versus occupation ) . Cultural factors ( sentiment on instruction of misss ) . Role of authorities to hike instruction. The supply drivers of the industry include: Handiness of labour force ( instructors and decision makers ) . Government support ( to set up low-cost instruction centres ) Changes in societal mentality.Higher Education CommissionA ( HEC )TheA Higher Education CommissionA ( HEC ) , once the University Grant Commission, is the primary regulator of higher instruction in Pakistan. It besides facilitates the development of higher educational system inA Pakistan. Its chief intent is to upgrade theA Universities of PakistanA to be centres of instruction, research and development. The HEC is besides playing a prima function towards constructing a cognition based economic system in Pakistan by giving out 100s of doctorial scholarships for instruction abroad every twelvemonth.HEC Programs and UndertakingsHEC chief plans are following: Faculty development Curriculum alteration Higher instruction substructure development Autochthonal scholarships Foreign scholarships Patent filing support Conference travel grants Increase industry and university research coaction Developing new engineering ParkssHEC AccomplishmentsThe creative activity of HEC has had a positive impact on higher instruction in Pakistan. a ) Established the finest Digital Library in Pakistan: Every pupil in every populace sector university today has entree to 45,000 text editions research monographs from 220 international publishing houses every bit good as to 25,000 international research diaries – regarded as one of the best digital libraries anyplace in the universe. B ) Tripled University registration from 135,000 in the twelvemonth 2003 to 400,000 in 2008. degree Celsius ) Promoted research, ensuing in immense enlargement of international research publications from Pakistan from merely 600 research documents /yr in 2003 to 4300 research documents in 2008. vitamin D ) During the 56 twelvemonth period ( 1947-2003 ) non a individual Pakistani university could be ranked among the top 600 universities in the universe. Today 5 of Pakistani universities are in this class with the National University of Science and Technology standing at a really respectable figure 350. vitamin E ) Four twelvemonth undergraduate plan introduced so that our grades are internationally recognized. degree Fahrenheit ) About 5000 Ph.D. degree scholarships awarded for survey in technologically advanced states ( largest plan in developing universe ) and some 3,000 autochthonal Ph.D. scholarships have been awarded. The universe ‘s largest Fulbright Scholarship plan ( US $ 150 million ) launched with joint support ( HEC/USAID ) . g ) Fifty one new universities and degree awarding institutes and 18 campuses of bing universities established during ( 2003-2008 ) . These phenomenal developments have been described as a â€Å" Silent Revolution † by the World Bank in a comprehensive study, and a figure of columns and articles have appeared in the universe ‘s prima scientific discipline diary, Nature. In the most recent column ( 3rd September 2009 ) Nature has stated that what Pakistan has done under Prof. Atta-ur-Rahman ‘s leading during 2002-2008 is a lesson for other developing states.RegionUniversitiesPublicPrivateAJK422Balochistan866Federal Area16133Gilgit-Baltistan11–NWFP24159Punjab402218Sindh391425Entire1327359Chapter 4Organizational OverviewBahria UniversityBahria University is besides known asA † BU † . It is a multi campusA universityA with it headquarters in Islamabad, A Pakistan. BU has two chief campuses, one in Islamabad and the other inA Karachi, Pakistan. It was established by theA Pakistan NavyA in February 2000 by Presidential Ordinance No. V of 2000. Bahria is a co-ed public university reco gnized by theA Higher Education Commission of PakistanA and theA Pakistan Engineering Council.A It offers assorted two- and four-year plans for undergraduates and alumnuss, backed by a research institute. The chief accent of the university is on technology and direction scientific disciplines, though other subjects are besides offered.MissionBahria University is a multi-campus establishment of higher instruction, which will stay committed to the attainment of highest criterions in instruction, larning and research. The bookmans and professionals it produces will be encouraged to prosecute truth, civility and unity.AimsIn prosecuting this mission, the University has following aims: Establish Campuses, Research Institutes, Schools and Colleges across the length and comprehensiveness of Pakistan to turn the quickly increasing population into cognition based force. Fix the younger coevals to go future leaders and directors for a comfortable and educated Pakistan, through development of their physical, mental, moral and professional strengths. Ensure academic excellence through quality instruction in disciplined and peaceable acquisition environments. To offer pupils the benefits of rational challenge, and to foster accomplishments and qualities they need for their professional callings in front and to enable them to accomplish full potency as persons. Constantly proctor and ascent installations and update the course of study to maintain gait with the emerging tendencies and engineerings. Coordinate and supply installations for exchange of cognition and applied research in the freshly emerging Fieldss in coaction with national and international Universities and Research Institutions.Bahria University in a glanceFederally Chartered University. Disciplined, secure and congenial acquisition environment. Custom built campuses equipped with state-of-the-art installations conducive to the accomplishment of academic excellence.A Experienced and qualified module dedicated to excellence in instruction, customized preparation and applied research.A An up-to-date, calling oriented and accomplishments focused course of study aimed at developing proficient expertness, managerial capablenesss for run intoing the challenges of the 21st century.A Ample resources to introduce and react to the challenges of the emerging engineerings in the present twenty-four hours environment.A Institutes that are wonderfully located at easy accessible.Facilities in Bahria UniversityBahria has many installations some of which are described below:Health & A ; SecurityA well equipped dispensaries are available for exigency demands of both pupils and instructors. Bahria makes certain that pupils are good taken attention of in instance of demand. Ambulance, and security mechanisms are kept watchful to cover with and avoid possible exigencies. A hygienic environment is on the other manus, maintained through an effectual system, which, as a portion of its maps, proctors the general status of cleanliness and criterion of the nutrient supplied at different cafeterias.LibraryAt Bahria University the systems applied in the organisation of libraries make entree to information quick and simple. Supplied with the latest books, periodicals, magazines and diaries, the departmental/seminar libraries at different institutes and colleges provide the pupils with a comprehensive aggregation of books in the peculiar countries of surveies. The Bahria library is a expansive aggregation of 1000s of books, including valuable manuscripts, from all over the universe. The library is amongst the best libraries of Pakistan, provided with a bookman ‘s house for the abode of research bookmans.Computer LabsThe luxuriant computing machine installations at the chief and other campuses of the University offer extended use hours and state-of-the-art hardware and assortment of packages to do calculating existent learning experience. The installations comprise networked Personal computers ( Pentium IV ) linked to a broad scope of package, communicating and print services. The unfastened entree policy to the Internet at every campus is a portion of an extended, â€Å" Broadband † information web linking modules and campuses. All campuses have their ain waiter suites with intranet and Internet installations.Audio and Visual FacilitiesThe purpose being to do the teaching-learning procedure effectual and better, the classs at Bahria University are designed to be conducted with the assistance of the latest audio-visual installations, including over-head projectors, picture movies, multimedia, package plans and theoretical accounts etc. which are provided as a necessary portion in the attractively designed schoolrooms and research labs.Organizational StructureThe Institute hasA a squad work environment and is lead by the Campus Director.A The other squad members are HOD ( CS and E ) , HOD ( MS ) , HOD ( E & A ; ES ) , HOD ( SS ) , Deputy Director Admin, Programs Co-coordinator and Bursar.Departmental StructureAny section is headed by HOD and supported by four coordinators, module members and other proficient staff. Like if we take technology section so in it, the Engineering Coordinator is responsible to look after all technology laboratoriesA and technology course of study. The Course Coordinator is responsible for doing clip table and work outing jobs of the pupils and module members. The category advisers are responsible to advocate pupils for their academic lack and maintain close coordination with the class coordinator and HOD. Final Year Project Coordinator gives support in happening existent universe undertaking from the industry and apportioning supervisors, set uping their demos for defence of pupil ‘s undertakings. Internship coordinator maintains a complete record of pupil ‘s internship and is responsible for arrangement of pupils in the industry and rating of their work. The other squad members are Faculty Members, System and Lab Engineers.Affiliated Unit of measurementsBahria University has following affiliated units: Frontier Medical College, Abbottabad Shifa College of Medicine, Islamabad Shifa College of Nursing, Islamabad Islamabad Medical & A ; Dental College, Islamabad Institute of Education TrainingA , RawalpindiDegrees offeredFollowing plans are being offered in different campuses:Bachelor plansBachelor of Business Administration Bachelor of Software Engineering Bachelor of Computer Engineering Bachelor of Media Studies Bachelor of Engineering in Electronics Bachelor of Engineering in Telecom Bachelor of Electronics and Telecom Management Bachelor ( Hons ) in Geology Bachelor ( Hons ) in Geophysicss Bachelor of Social Sciences Bachelor ( Hons ) in War Studies Bachelor ( Hons ) Naval Sciences Bachelor of Medicine, Bachelor of Surgery ( MBBS ) Bachelor of Dental Surgery Bachelor of Electronics and Telecom Management ( ETM ) Bachelor of Social SciencesMaestro plansMaestro of Business Administration Maestro of Science in Computer Engineering Maestro of Science in Telecom & A ; Networking Maestro of Science in Software Engineering Maestro of Science Geology Maestro of Science Professional PsychologyPMD plansPMD Educational Psychology PMD Clinical Psychology PMD Organizational PsychologyM.Phil. plansM.Phil. Clinical Psychology M.Phil. Educational Psychology M.Phil. Organizational PsychologyPh.D. plansPh.D. Clinical Psychology Ph.D. Educational Psychology Ph.D. Organizational PsychologyAccomplishments and awardsBahria University is the first Pakistani university to fall in more than 300 universities across theA Asia-PacificA part that has deployed mobile calculating and wireless engineerings. Bahria University is the first Pakistani university to associate its degree plan with community service. Bahria University has taken an enterprise to fit 4500 pupils with branded laptops with wireless engineering. In this respect, the university has signed MOUs withA Intel, A Acer Inc. , and theA Bank of Punjab. Laptops are provided to pupils at discounted monetary values with installment programs. Bahria University will be the first university in Pakistan to set up a campus atA Gawadar. The Prime Minister of Pakistan has approved the constitution of the Institute of Marine Sciences at Gawadar while the Pakistan Navy will supply land for the same.

Group Treatment for Substance Abuse Essay Example | Topics and Well Written Essays - 1750 words

Group Treatment for Substance Abuse - Essay Example This situation usually arises after using these drugs and substances over a longer period of time that directly affects the working and functioning of brain and brain cells called neurons. This effect is usually in the form of addiction that is a disorder affecting brain connections such as those used in actions of reward and motivation, cognitive learning, memory skills, and controlling ones self and desires. With the increasingly alarming situation of substance abuse and drug addiction, experts worldwide has recognized it as one of the most critical problems rising at exponential rates. This has increased the needs and encouraged different methodologies that exist as effective and efficient treatment for the problem. Devising quick and effective treatment methods has become mandatory in order to protect and heal significant portion of worlds population from this illness. Group therapies are one of the most successful treatment methodologies in this regard; the reason that group therapies are most preferred is because of the effectiveness both in term of cost and performance. Nowadays, group therapies have emerged as the potential healing force bearing fruits that are hardly achieved in an individual or personal therapy setup. Another point in this regard is the fact that group therapies efficacious because it constantly use therapeutic powers like care, emotional and mental support, association, bonding, and peer encounter. These forces make the client strong enough to establish a bonding that encourage quick recovery and ensures effective healing. The other benefit of using group therapy is their efficacy in the treatment of problems that comes with addiction like depressive feelings, getting isolated from environment, shame, and guilt. Making groups or utilizing group therapies usually result in significant advantages to the group members. Group helps establishing a bond due to which

The Clipper Chip Controversy Essay Example | Topics and Well Written Essays - 750 words

The Clipper Chip Controversy - Essay Example The clipper managed to  perform  the above task with the  help  of certain numerical keys. Controversy sprung from the fact that the US government sought to  retain  exclusive  but regulated knowledge of such algorithms. That way, the government could eavesdrop on any conversation it considered  suspect. However, this would only be possible with a nod from the courts. As it happened, from ordinary citizens through  business  people to senior military personnel,  virtually  everyone had an opinion on the issue. On one hand,  there were civil libertarians glibly expressing their fear of the technology  being used  to  aid  a  big  brother regime that would  easily  stifle freedom of speech. On the other, cogent arguments in favor of keeping an eye and ear on the criminal  activity  were made. This paper endeavors to present arguments on both sides of the divide all through to the final part of the debacle. The privacy constituency rooted it s opposition to the clipper on the way it  was envisioned  to operate. ... stance if an ordinary citizen happened to stumble upon damaging information about the government, it was an  act  in futility for  him or her  to  attempt  to  pass  an encrypted  dossier  to someone in the media. The government’s operatives would work relentlessly to  intercept  it before some loudmouth spilled the beans if it (the government) knew about the leak. In such situations, no one was willing to tell the truth about anyone because the risk of  being caught  would be  unbearable. Similarly, it is quite thinkable that the government would use its backdoor privileges to access information otherwise supposed to be  confidential  about political competitors. In short, the charge from this end was that the chances of a  regime  turning  rogue  and harassing people for having unfavorable opinions, are exceptionally high with the clipper chip. The Clinton Administration countered this line of reasoning with a poignant statement that read; unfortunately, the same encryption technology that can help Americans protect  business  secrets and personal privacy can also be used by terrorists, drug dealers and other criminals (Lewis 26). Even during those pre-9/11 days, it was easy to see how a determined and sophisticated terrorist could benefit from access to encryption technology that no man, woman or  spirit  can penetrate. Plans to smuggle  would-be  murderers, take  flight  lessons, hijack airplanes and  crash  them into skyscrapers would be swapped across cyberspace without detection. Although the usefulness of the clipper in matters of defense is  somewhat  clear, its  inadequacy  is even clearer. Thoughtful opponents of the clipper observed no criminals or terrorists smart enough to use a  system  to use data encryption would be  dumb  enough to use

In what ways does the Ara Pacis Augustae reflect Augustus' vision of a Research Paper

In what ways does the Ara Pacis Augustae reflect Augustus' vision of a Roman 'golden age' - Research Paper Example The reconstructed Ara Pacis now stands within a large, reinforced glass and concrete shelter, also the work of Mussolini’s architects, designed to protect it from the elements and pollution(1). Marble surfaces of the box—shaped Ara Pacis are covered with relief sculpture carved in white marble. The artists are unknown, but the level of craftsmanship is exceptionally high, ending archaeologists to suggest that they may have been Greeks, or at least Greek—trained artists(2). As with much ancient Greek sculpture, Reliefs were originally painted, which would have made the stand out much more clearly than they do now. 1. Rehak,P.’Aene or Numa? Rethinking the meaning of the Ara Pacis Agustae’, The Art Bulletin, Vol.83,(2001),pp.190-208. 2. Conlin, Diane Atnally. The artists of the Ara Pacis:the process of Hellenization in Roman relief sculptures(Chapel Hill, 1997). Fig: Ara Pacis Original Frontal View (13-9 B.C) Source http://www.vroma.org Fig.: Present s tatus of Ara Pacis after some modification Source http://www.vroma.org Physically weak and plagued by ill health, Agustus was only eighteen years old when Julius Caesar's assassination thrust him, as his uncle's chief heir and adopted son, into the forefront of the subsequent political and military turmoil. He outmaneuvered and outfought rivals such as Cassius, Brutus, Lepidus, Mark Anthony, and Cleopatra. Augustus embodied and represented the tremendous currents that transformed Rome from a small Italian city situated on the Tiber River to a powerful empire that bestrode the known world as no other colossus ever had. Augustus was astute and artful enough to balance republican traditions with imperial realities, skillfully maintaining the delicate facade to achieve his goals, so that, late in life, he could rightfully claim it(3). In general, the Augustan system worked fairly well, in fact, it lasted more than 200 years. It provided a material and political base of cultural achievem ent that rivaled the Greeks under Pericles(3). This is the age of the Pax Romana, the Roman Peace. But the Augustan reforms were not limited to political, economic and social issues alone. They also envisioned a fundamental change in Roman culture itself. Augustus tried to turn Rome into a world capital and taught the Romans to identify their destiny with the destiny of all mankind. They were the chosen people who would bring peace and stability to a violent and changing world. The transformation which he tried into Rome was not only administrative or political but it was fundamental change in cultural foundation of the city which he wanted to make as world capital. 3. http://www.historyguide.org/ancient/lecture12b.html The upper panels on the short front and back walls, the location of the two doorways to the sanctuary, show four scenes from Roman history and religion. All but one are in a poor state of preservation. On the front are the fragments of two scenes from the most ancien t history of Rome: on the right Aeneas Sacrificing to Penates (4)(ancestral household gods) and on the left the god Mars with Romulus and Remus. Both scenes concern legendary founders of the Roman state. Aeneas, a hero of from Troy (celebrated in Virgil’s epic poem, the Aeneid, commissioned by Augustus), was regarded as the first settler on Italian shores. Romulus and Remus, the twin sons of Mars who were nursed by the-wolf were the founders of the city. The two ceremonial processions on the longer side

Coursework on Juvenile Justice Example | Topics and Well Written Essays - 750 words

On Juvenile Justice - Coursework Example obeisance to all laws, including traffic laws, attendance to probation officers as mandated by the court, attendance to all school sessions and abeyance to school regulations, disassociation with codefendants or other probationers, prohibition on the possession of any weapon, among others. Failure to follow these standard laws can lead to the probationer’s arrest and return to court. Standard supervision includes meetings with probation officers or community workers for the implementation of a case plan for first time, low-risk juvenile offenders. Over the years, however, intensive supervision programs including home confinement and electronic monitoring are being used for offenders who have high levels of recidivism. Different courts offer various probation programs. Probation officers different abilities and willingness to work with probationers. Moreover, communities offer different services for rehabilitation of offenders. One community may focus on educational programs wh ile others utilize job training and placement as a way to prevent re-offense. 2. Discuss the six basic roles of a probation officer. What do you think consumes most of their time? If you were a juvenile probation officer, what do you think would be your favorite role? Explain your position. Probation officers (PO) perform six basic functions: (1) They act as social investigators in the hope of providing juvenile judges with information on whether the juvenile will be given conditional discharge, probation or passed on to the juvenile justice system; (2) POs act as counselors or rehabilitators in that they ensure that the juvenile under probation will follow court orders; (3) POs are protectors of the society or the community in that they are mandated to arrest juvenile probationers in case they are violating the conditions set by the court, or are endangering the security of the society or community; (4) POs write and administer case plans based on the juvenile’s social histo ry. Through these case plans, POs can ensure that offenders will no longer return to court; (5) POs act as collector of court-ordered monies or other sanctions. If the juvenile is sanctioned for community service, POs ensure that this duty is performed by the probationer. (6) POs act as brokers for community resources in that they organize resources so that it serves the needs of both the probationer and the community. Through this function, POs are able to ensure that juvenile offenders are able to seamlessly integrate with the society. My favorite role is that of an investigator because of my natural curiosity. Through this function, I can learn more about a person, and be able to determine what is causing that person to exhibit a specific behavior. 3. Define the different types of restitution and discuss the operation and effectiveness of this sanction.  Explain the findings on research into restitution effectiveness.   At present, there are three kinds of restitutions utiliz ed by the juvenile justice system: community service restitution, victim service restitution and monetary. In monetary restitution, offenders are ordered by the court to earn income so that they can pay back the victim. The rationale behind this is that the court wants the offender to realize the economic effects of his or her act and be responsible for his/her behavior. Victim service restitution requires the offender to pay the victim back in kind. By doing this, the

Exam paper Essay Example | Topics and Well Written Essays - 2250 words - 1

Exam paper - Essay Example Such strategies in planning set considerable challenges to other organizations. The university has a great base of sustainable development as it has being recognized by Institutions such as carbon masters standard. It has therefore demonstrated a great baseline for sustainability. As a university it has much to accomplish to ensure persistent sustainability and improvement of the environment. The university has to first be aware of its strengths and weaknesses in pursuit of sustainable development (Baker 2006). There must be engagement of community and government to enable the vision of sustainability a reality. Ample research and drafting of a plan should be done before the onset of activities in sustainability management. Many factors shall have to be considered by the university to ensure maximum realization of sustainable development. Despite sustainability undertakings known to be costly to organizations, the ethical work enables the organizations take part in social corporate responsibility. In current trends sustainability continuum is a critical trend to all organizations. The claimers in clued the shareholders, employees, and governments; each of them has satisfiable reasons for expecting and oftenly demanding that the firm satisfies their claims in a responsible manner. An organization that adversely affects the environment in such terms of air pollution and discharge of wastes, have a great task in terms of sustainability. Such institutions have much to do in their mission to counter their effects to the environment. This means a more budget allocation in sustainability measures. High technologies and qualified expertise should be employed to activities such as recycling of waste, renewing of energy, and carbon particles trapping. Without such measures such organizations will be at risk to lose their responsibility to the society and may lead to the eventual closure. With these demanding trends

Cheif Security Officer Essay Example | Topics and Well Written Essays - 250 words

Cheif Security Officer - Essay Example A chief security officer should have vast expertise in areas beyond mere security thereby requiring global experience. A CFO requires global experience for notable reasons. To begin with, such a position requires knowledge of the complex global chain. In this sense, a CFO should be aware of how trade in other countries affects trade in particular country. The officer, therefore, easily participates in business continuity planning. In addition, global experience enables the CFO understand the intricate global internet network that poses threat to an organization’s IT system (Fay, 2011). Internet, as a tool, connects the world in a single sphere. It is essential for a CFO to possess knowledge on how the internet can be integrated in the general security of the company. Besides, a global experience is crucial for understanding the evolution of organizations. This is because structures of organizations are continually changing and this leads towards the shrinking and expansion of given departments. Furthermore, a CFO requires an adequate understanding of global politics and make out how such poli tics influence organizational

American Political Thought Article Example | Topics and Well Written Essays - 500 words

American Political Thought - Article Example Susan Antony worked with Elizabeth Stanton and the focus was on the suffrage and the rights of women in the society (Dilke 503). The speech of Susan Antony is based on the need to spearhead changes in the elections and the rights of women. In the past the focus of the society involved depriving of the women a chance to participate in the national issues. The focus of the speeches by Susan Antony was on the abolishment of the segregation of women and the involvement of the women in voting and looking for elective positions. The speech focused on the involvement of Susan in the voting process which led to her arrest and detainment. She continually referred to the arrest in the speeches. Voting was the main concern because of the challenge she went through after attempting to vote in the elections. Referring to the constitution of the country, she made passionate appeals on the country women and men to relook at the constitution and protect the rights of the women. Despite struggling for the rights to vote, she was not able to achieve the desired goal. The principle of power of the government being derived from the people was used as the basis to argue the case of the women. The use of sex to disfranchise a society was vehemently condemned by Susan. In her view, this was the massive violation of the citizen right and should be abolished in totality. The major question asked by the Susan was on determination on whether women are persons or not. The question was rhetorical but was meant to influence the women and allow them to think about their rights. The speeches presented by Susan helped by influencing women to take action against the discrimination and thus be inv olved in the leadership issues of the country. Discrimination of the women through the constitution was highlighted and the laws for equity were highlighted to show the need for enactment of the laws. The focus on the constitution and the law was effective because it ensured

Studying the Philosophical Thoughts Essay Example for Free

Studying the Philosophical Thoughts Essay 1. Generalizing the conditions which form the philosophical thoughts of Chuang Tzu. Regarding the socio-economic conditions: Chuang Tzu lived in the Warring States Period. This period witnessed the increasing popularity of iron tools marked a revolutionary innovation of production tools and the development of social productive. Agriculture, industry and economy also developed during the Warring States Period. Feudal relations of production gradually formed, consequently when the Warring States period started, it marked the end of mode at the slavery which following a pattern of the Orient. The era of Warring States is trouble times. The great transformation of all aspects in this period has left many stamps which affect every fields of life and set out the philosophical problems for the time. Regarding the premise thoughts: Chuang Tzu lived in a period corresponding to the philosophical summit of Chinese thought — the Hundred Schools of Thought. It is also known as the Golden Age of Chinese philosophy because a broad range of thoughts and ideas were developed and discussed freely. Living in the most developed period of the Chinese philosophy, Chuang Tzu can know all the philosophies in The Warring States, except Han Fei’s theory. Living during the chaos, the philosophical thoughts of Chuang Tzu inevitably influenced by the History of Chinese’s thoughts at this time. Short introduction about Chuang Tzu and Nan Hua Zhen Jing Chuang Tzu came from the Town of Meng (in modern Anhui) in Song Dynasty, living in the time of King Hui of Liang and Kinh Xuan of Qi (late 4th century BCE). He is the typical philosopher for Daojia, one of the greatest philosophers in History of Ancient – Middle Age Chinese Philosophy. Chuang Tzu is considered to follow Lao Tzu’s doctrine of Dao, making it develop more bright and popular. He is a minor official in the town. However, he gave up his appointment and lived recluse for the rest of his life at Nan Hua Mountain in the state of Song. In this place, he wrote Nan Hua Zhen Jing. Nan Hua Zhen Jing (also known as The book of Chuang Tzu) is only work of Chuang Tzu that today we still know. This work was lost several time, recovered and then lost again. So it has some inevitable errors. This work, in its current shape consisting of 33 chapters, is traditionally divided into three parts: the first, known as the Inner Chapters, consists of the first seven chapters; the second, known as the Outer Chapters, consist of the next 15 chapters; the last, known as the Mixed Chapters, consist of the remaining 11 chapters. Chuang Tzu was renowned for his brilliant wordplay and use of parables to put forward his philosophical thoughts. Nan Hua Zhen Jing was translated into Vietnamese. The popular translators of Nan Hua Zhen Jing in Vietnam are Thu Giang – Duy Can Nguyen, Hien Le Nguyen, Tong Nhuong, Ton Nhan Nguyen. In my report, I read and quoted the translation of Hien Le Nguyen. 2. Some philosophical thoughts of Chuang Tzu in Nan Hua Zhen Jing World outlook of Chuang Tzu: The inheritance and development of Lao Tzu’s doctrine in the concept Dao. Chuang Tzu advocated that the primary sources of whole world is nothing. He found that everything in this world has the common origin which is called Dao, even though they have many differences. In Chuang Tzu’s conceptions, Dao is formless, unknown, empty, and it is beyond space, time, life and death. Dao is â€Å"non-material† so that no one gave it birth and it derived from itself. That means Dao had before heaven and earth. So Dao is the origin of universe. Chuang Tzu said that Dao constantly changes. Everything in this world always moves and transforms, and we don’t know where they start, how they end. However, they change follow the set of strict rules and have the natural power. Everything contains Dao as their nature. All are transformed by Dao of their own to suit different circumstances. This is the core of Chuang Tzu’s conception about Dao which represents the development of Lao Tzu’s doctrine to a new level. Epistemology of Chuang Tzu: Relativism. For knowledge, like Lao Tzu, Chuang Tzu didn’t respect intellectual. He considers that intellectual knowledge is redundant because it will bring troubles. Chuang Tzu said: â€Å"There are limits in our lives, but there are no limits to knowledge. Using the limited thing to catch up with the unlimited thing can only bring troubles. Someone who already thinks they’re knowledgeable is really in trouble. † (Chapter 3, â€Å"Opinions on Nurturing Life†). Thus, he doesn’t encourage people to accumulate knowledge and opposes to argue with words. For Chuang Tzu, Dao is the supreme principle. He emphasized the absolute movement and ignored the stabilization. Chuang Tzu pushed the conception about relativity of Chuang Tzu into relativism. He advocated that there are no right and wrong, wealthy and poverty; no intellect, no arguments. Outlook on life of Chuang Tzu: Happiness is absolute freedom and absolute equality. *According to Chuang Tzu, the first of all happiness is lived freely follow natural essence, reaching the carefree roaming in this life. Philosophical thoughts of Chuang Tzu show us that wealthy or poverty, right or wrong, big or small, etc have no meaning at all. It is important that you have a happy life, reach to the carefree roaming, don’t you? Chuang Tzu mentioned that if we want to get the absolute freedom, we will have to live follow our natural essences. To do this, we need to expand our vision, do not set up obstacles for yourself. The carefree roaming requires human life keep pace with all things in the world from the heart, eyes and breath to action rather than antagonistic, requiring as sovereign of the universe. Happiness can really get in this world is encumbered with nothing inside. It sounds simple but is very difficult. It requires us to open eyes to perceive Dao everywhere, and everyone is encouraged to expand their mind by their experiences. We often spend a lifetime to explore the outside world, so we are losing the power to recognize the inner strength of ourselves. To reach the carefree roaming, we need to follow the natural essence, come back to the natural, rustic, carefree, liberated life. *The second is known how to make all things equal. Chuang Tzu said that to achieve the absolute Dao, the first step is that people need to remove their conceptions about right and wrong, considering the difference between things in this world is relative, in other words, it makes all things be equal. *Conception of Chuang Tzu about the true man and the true society. For Chuang Tzu, A true person has to be a carefree person. He said: â€Å"What is a true person? The true person of ancient times wasnt opposed to the idea of being different than the rest of society, didnt try to be macho, and didnt plan for a lucrative career. Someone like that could move from one situation to another with no regret, and measure up her self worth without becoming smugly self-satisfied. Someone like that could climb to dizzying heights without trembling in fear, enter water without feeling wet, and enter fire without feeling the heat. This kind of perception enables one to ascend on the tails of Dao. The true person of ancient times could sleep without dreaming, could awaken without anxiety, could eat food without relishing in it, and could completely fill her lungs when breathing. A true person breathed all the way down to her heels, while other peoples breath only filled the top of their lungs. Those who bend over in submission seem to spew forth words from their mouths like vomit. Those who harbor old desires deeply within them leave only a shallow space for the heavens to maneuver. The true person of ancient times wasnt aware of expressing joy in life, nor of feeling aversion to death. He didnt feel a need to be gracious when he left, nor did he feel a need to be aloof when he entered. He could leave as swiftly as he arrived, and there was nothing more to it. He didnt forget where he began, but didnt question where hed end up. He celebrated what was received, and recaptured what had been forgotten. This is called not using the mind to contribute to Dao, and not using people to assist the heavens. Thats what was called a true person. † (Chapter 6, â€Å"The Great and Most Honored Master†) Chuang Tzu said the world â€Å"does no need governing; in fact it should not be governed†, and, â€Å"Good order results spontaneously when things are let alone. † Murray Rothbard called him â€Å"perhaps the world’s first anarchist†. * Nan Hoa Zhen Jing of Chuang Tzu has high value philosophy and value artist. In this book, Inner Chapter is contained the most of his philosophical thoughts such as world outlook, epistemology, outlook on life, etc. It showed us that Chuang Tzu’s thoughts thought is not much, but deep, profound and mysterious.

International capital budgeting

International capital budgeting Executive Summary In todays competitive environment, with companies are looking to expand their business not only nationally but also in foreign markets. For taking the decision on whether to invest in a foreign operation or not the company needs to assess various options it has. Capital Budgeting techniques are used in order to evaluate or compare different proposals. There is a difference in capital budgeting techniques for foreign operations as several factors such as exchange rates, inflation rates, blocked funds, government policies, etc. The returns arising out of foreign operations are different for the subsidiary company and parent company. Cash Flows should be computed for the investor i.e. the parent company and if the NPV of cash flows after subsequent adjustments comes out to be positive for parent company the investment decision might seem fruitful. Although a positive NPV for subsidiary would also add to the wealth of the corporation but generally parent companys in such instances are a little hesitant to invest. Favourable condition is the one in which both companies have a positive return. The cost of capital also needs to be estimated correctly by making suitable adjustments. Overall cost of capital should be lowered by having an optimal cost structure within several constraints. Several Decisions need to be made by the International Finance Manager on whether to expand, postpone or abandon the project in cases of sudden rise or fall in demand. Generally, companies do not wish to abandon the project as entering and leaving market is more costlier than bearing operational loss for sometime. Careful attention to the demand and other foreign and local government policies come into picture while taking this decision. Introduction Many firms around the world carry out business activities in more than one country such firms are known as Multinational Corporations (MNCs). With increase in globalization such activities have been on a rise. Many Indian firms also after the inception of Liberalization, Globalization and Privatization policy have started to raise finances in foreign markets, export goods and services, import goods and services and even invest abroad. However, the fundamentals of financial management do not differ whether the firm is domestic or an International firm i.e. a firm which has significant foreign operations. Although there are a few factors that need to be considered in International firms such as currency denominations, tax and other Government implications, varying accounting standards, barriers to trade and financial flows and political risk. One of the key factors for firms having their operations in foreign countries is the exchange rate. Exchange rate unlike few years back (1971) where devaluations and revaluations occurred only very rarely has given way to the system of floating exchange rates. In a system of completely floating exchange rates, the relative prices of the currencies are determined entirely by the demand-supply gap. Authorities in such a system do not attempt to influence the rate movements. But such an ideal system does not exist. Governments in all countries attempt to influence the movements of exchange prices either through direct intervention or through a mix of monetary and fiscal policies as they regard exchange rate as a very important macro-economic variable. Such a system is called dirty float. Exchange rate directly influences the estimation of budget of a foreign investment. So in order to accurately forecast the budget or profitability of a project it is essential to forecast the exchange rates for future. Exchange Rates An exchange represents the price of one currency expressed in terms of another. There are two ways of quoting an exchange rate. Direct Quote: A type of quote in which exchange rate for a foreign currency is quoted in terms of number of units of local currency that are equal to a single unit of foreign currency. For example when it is said that exchange rate for dollar is Rs 46, it illustrates a direct quote for Dollar. Indirect Quote: A type of quote in which exchange rate for a foreign currency is quoted in terms of number of units of foreign currency that are equal to a unit of local currency. For example when it is said that $0.0233 is equal to Re. 1, it illustrates an indirect quote for Dollar. Since 1993, the interbank foreign exchange market in India has been using system of direct quote, prior to that it used a system of indirect quote. International Standards Organization has developed three letter codes for all currencies that are used by the SWIFT network that affects the inter-bank fund transfers. Codes for a few currencies are: Spot Rate Quotations Spot Rate refers to the rate of a foreign exchange contract for immediate delivery. Although it is said to be immediate its settlement is done in two business days after the date of transaction. A quotation consists of two prices. The first price is the bid price i.e. the price at which the dealer is willing to buy. The second price is the ask price i.e. the price at which the dealer is willing to sell. The difference between the two prices is known as the bid ask spread. It reflects the breadth, depth and volatility of the currency market. The spread is generally expressed in percentage terms. For e.g. if USD/INR Spot :46.2500/46.2600, it means that the dealer would buy one US dollar for Rs 46.2500 and sell one US dollar for Rs 46.6000. In this the bid ask spread is: Cross Rate Quotations If the exchange rate between currencies A and B and currencies B and C is known then the exchange rate between currencies A and C can be determined by the following: S(A/C) = S(A/B) x S(B/C) Forward Rate Quotations A rate which is fixed today but the settlement for the transactions occurs at some specified date in the future. Banks normally quote forward rates for maturities in the whole calendar months. For commercial customers it is mentioned in the same way as quotation for spot rate. For e.g.: USD/INR 3 Month Forward : 46.4220/46.5210 The above statement signifies that after three months bank would buy one dollar for 46.4220 and sell one dollar for 46.5210. However, in the interbank market the forward quotes are given as a pair of swap points which are then added or subtracted from forward quotation. The swap quote only expresses the difference between the spot quote and forward quote. Decimals are not written in swap quotes and are represented as follows: Conversion of Swap Rate into Outright Rate Swap rate can be converted into outright rate by adding premium or subtracting the discount from spot rate. If the forward bid rate in points is more than offer rate then the forward rate is at a premium and hence the points are added to the spot rate in order to get outright rate. If the forward bid rate is more than the offer rate in points then the swap points are subtracted from the spot rate. The swap quotation is generally expressed such that the last digit coincides with the same place as the last digit of spot price. So, in USD/INR quote given above, the rate 20/10 would mean INR 0.0020/INR 0.0010. On application of the above rule to the example, the outright forward quotation would be: USD/INR 1 month forward: 46.5005/46.5020. Forward Premiums and Discounts If the US dollar is costlier in the forward market than in the current market then it is said that it is at a forward premium in relation to Rupee. Similarly if it is cheaper in the forward market it is said to be at a discount in relation to Rupee. With two way quotations there is no single unique way of quantifying the premium or discounts. One way commonly used is expressing premium or discount as an annualized percentage deviation from spot rate. Forward premium(discount) = (n-day forward rate spot rate)/spot rate x 360/n n length of forward contract in number of days Futures and Options in Foreign Currencies An alternative to the forward market is the futures market. The currency futures contracts are standardised currency forward contracts in terms of size of the contract and delivery dates. The difference between forward contracts and futures is that forwards are customized whereas futures are standardized contracts. International Parity Relationships In order to have consistent international financial policy a relationship between interest rates, inflation rates and exchange rates needs to be understood. Following theories suffice this purpose: Covered Interest Arbitrage and Interest Rate Parity It is an investment strategy whereby an investor buys a financial instrument denominated in a foreign currency and hedges his foreign exchange risk by selling a forward contract in the amount of the proceeds of the investment back into base currency. Combined effect of such transactions and market pressures result in an equilibrium relationship which is known as interest rate parity (IRP) which preludes covered interest arbitrage transactions. When IRP exists, the difference between forward rate and the spot rate is enough to offset the difference between interest rates in two currencies. IRP condition states that the home interest rate must be higher or lower than the foreign interest rate by an amount equal to forward discount or premium on home currency. IRP can be stated as follows: Purchasing Power Parity According to the concept of purchasing power parity barring the effects of barriers associated with the movement of goods or services across countries, price of each product shall be same in each country, after making the appropriate currency conversions. It is also known as law of one price in economics. For goods which cannot be easily stored or transported law of one price doesnt hold, but for goods like crude oil and gold which can be easily stored and transported there arent major deviations from law of one price. A less restrictive form of Purchasing Power Parity is called the relative purchasing power parity which states that the difference in inflation rate between two countries is offset by the change in exchange rate. Relative Purchasing Power Parity can be expressed as follows: International Capital Budgeting Once a company has reached a decision to invest abroad the next thing to do is to evaluate various projects/proposals. The evaluation of the long term investment project is known as capital budgeting. The method of capital budgeting is quite similar for both a domestic company and an international company. The difference is that in order to evaluate for an international company different aspects need to be taken into account such as computation of cash flow relating to project in viewpoint of both parent and subsidiary, cost of capital, etc. Evaluation Criteria An investment proposal can be evaluated using two types of method non-discounting and discounting methods. The non-discounting methods are simple to compute but are not as accurate as discounting methods as they do not take into consideration the time value of money. The focus would mainly be on the discounting methods. Non-Discounting Methods Average Accounting Rate of Return: It takes into account profit before interest and tax with respect to investment. The profit is then compared to the required rate of return. A project is acceptable if the mean profit is higher than the required rate of return. The negative aspects of this method are that it is based on accounting income and not on the cash flow; it considers profit before tax and it also ignores the time value of money. Pay Back Period: It is the number of years required in order to recover the initial investment. This method mainly focuses on early recovery of funds but does not consider the cash flow after the pay back period i.e. it does not take into account the life of the project. The advantage of such non-discounting methods are that they are easy to compute and can be used in the initial stages of project in order to compare which project would be able to recover the investment quicker. Discounting Methods Net Present Value: In this approach projects are accepted where the present value of net cash inflow during the life span of project is greater than initial investment. It is computed using. Choice between different methods During comparing two proposals sometimes the result of two methods may differ as they rest on different assumptions concerning the reinvestment of funds released from the project. The NPV rule implies reinvestment at a rate equivalent to the required rate of return which is used as the discount rate whereas IRR assumes the funds to be reinvested at IRR. However, in such a case NPV is given preference as there are a few limitations of IRR method. Firstly, where projects of different life span are considered IRR inflates desirability of a short-life project as IRR is a function of both the time involved and size of capital investment. Secondly, IRR remains to be lower on projects with a longer gestation period, even when NPV remains larger because IRR is high in those projects where several benefits accrue in early part of their economic life. Thirdly, there is a possibility of two IRR rates coming for a given NPV as they are computed using a polynomial equation. Between PI and NPV, NPV is given preference as it represents an absolute value. Computation of the Cash Flow The decision to start a new project involves outlay of cash flow in form of investment but in return brings in funds and adds to the firms stock of wealth in future. Cash Flow can be grouped under three heads: Initial Investment during the period, to Operating cash flow during the period, t1 to tn Terminal cash flow or salvage value emerging at the end og the period, tn. The following factors should be kept in mind: Cash Flow is considered on after tax basis Financing cost is not included despite the fact that capital has a cost because such costs are considered elsewhere while determining projects required rate of return Cash flow is computed on an incremental basis and represents the difference between cash flow after the investment and cash flow in absence of investment Certain costs do not involve cash flow but involve opportunity cost, such costs are included in the decision process Parent Units Perspective and the Cash Flow In multinational capital budgeting the question arises whether to compute the cash flow from viewpoint of the parent company or viewpoint of subsidiary company because cash outflow of one could be cash inflow for the other. For e.g. if the subsidiary company gives the parent company a royalty fees then it becomes an inflow for the parent company but it is an outflow for the subsidiary company. It is difficult to take a decision on whether to accept or reject a proposal in such instances. In fact there may be many situations when the disparity in the cash flow between the parent and its subsidiary occurs. For example if the tax rates in home country and foreign country are different disparity in cash flow would arise. It is possible that on account of lower tax rates in foreign country the after tax cash inflow is large enough to justify the investment proposal. On the other hand high tax rates in the home country might render the investment proposal infeasible from viewpoint of the p arent company. The parent company might reject the proposal due to low cash inflow due to exchange control applied by the foreign government, despite the cash flow being sufficient for implementation. In a situation where parent company charges the subsidiary exorbitantly for the use of technology and management, the cash inflow accruing to the parent company will be larger justifying the investment decision. Lastly, changes in exchange rate may change the cash flow of parent company. When the currency of the foreign country appreciates parent company gets a larger flow of cash in terms of its own currency. This might alter the accept-reject decision. In corporate financial management the value of the project is determined by net present value of the future cash flows available to the investor. Since, parent company is the one which invests in the project , it is the cash flow of the parent company that is taken into account in the context of international capital budgeting. Initial Investment If the entire project cost is met by the parent company the entire amount of initial investment is treated as the cash outflow. There are instances when the project is partly financed by the subsidiary itself through local borrowings but such borrowings do not form a part of the initial cash outflow. In some cases the subsidiary company makes additional investment for expansion out of the retained earnings, in such a case there is no cash outflow from the parent company but such costs should be treated as opportunity costs because in absence of retention of earnings, these funds could have been transferred to parent company rather than invested in the project in question. Thus, the investment out of retained earnings should be treated as cash outflow from parent companys perspective. Sometimes foreign government imposes exchange control and does not allow the cash to flow to the parent company. Such funds are called as blocked funds. For this reason the part of the cash that is blocked is not treated as cash inflow from the parents perspective. However, if the blocked funds are reinvested in some new project then that amount is considered as investment by the parent company. Operating cash flow Besides the initial investment, some adjustments need to be made to the operating cash flow as well. The revenue generated through the sale of a subsidiarys product in the local market as well as in other countries is shown as cash inflow to the parent company but it is subject to downward adjustment by the lost income on sales previously realized through parent companys export to these markets. On the other hand if operation in the subsidiary leads to import of components and raw material from parent company value of such import will be added to the revenue. The transfer pricing, when the parent company or any other unit of the firm charges price for intra-firm transfer of intermediate goods, also influences the operating cash flow. The transfer pricing is adopted either for better working capital management or wavering of taxes through shifting of before-tax profit to a country with lower tax rates. When transfer pricing lowers the overall tax burden on the parent company it is treated as cash inflow. However, such inflows are discounted at a higher rate because they involve great risk. If there are incentives from the foreign government, they are included in capital budgeting. For example, if foreign government offers loan at a subsidized rate then the gains from such an incentive is treated as operating cash inflow. When the subsidiary takes loans locally, the amount of interest payment is deducted from operating cash inflow. In case of domestic capital budgeting it is not the case as financing cost is included in the discount rate, but in case of international capital budgeting, the cash remitted to parent company would seem to be overstated if interest payments are not treated as cash outflow. Inflation influences both the cost and the revenue streams of the project and hence inflation rate differential also needs to be taken into account. If the inflation rate is higher in foreign country and if the import from the parent company constitutes a significant portion of the input of subsidiary, the cost will not move up very high but if the inputs are bought locally the cost increase may be substantial. Similarly, revenue would move up if there is no competition from foreign suppliers and the demand for the product is price inelastic. Although if inflation rates are very fluctuating it becomes very difficult to make an accurate forecast as the inflation differential would keep on changing. The exchange rate fluctuation influences the size of the cash flow. Changes in exchange rate are not only due to the changes in inflation rates but several other factors. It is difficult to predict the behaviour of those factors. Nevertheless, the cash flow computation process incorporates different scenarios of exchange rate movements. If there is an appreciation in the value of foreign currency, it is good for the parent company as it will increase the size of cash inflow in terms of home currency. This gain may be offset by the high inflation rate but if in the future the rate of inflation is expected to lower thus helping appreciate the value of foreign countrys currency, the subsidiary should invest locally the payments to the parent company till the strengthening of currency. Terminal Cash Flow When salvage value of a project is uncertain the parent company makes several estimates of salvage value or terminal cash flow and computes the NPV based on each possible outcome of terminal cash flow. Alternatively, it computes the break even salvage i.e. terminal cash flow necessary in order to achieve zero NPV for the project. Break even salvage value is then compared to estimated cash flow. If the estimated terminal cash flow is less than break even salvage value, the investment proposal would be rejected as the NPV would be negative. On the other hand if the subsidiary would sell for more than break-even salvage value then this would be incorporated into assessment of whether to accept the project or reject it. To further explain the terminal cash flow, we would break up the cash flow beginning from the first year to the nth year into operating cash flow (OCFt) and terminal cash flow (TCFn). So from the above equation we can conclude that in order to compute break even terminal cash flow we have to first estimate the present value of operating cash flows or the future cash flows without salvage value. When computed it is deducted from initial investment and difference is multiplied by (1+k)n. Parent-Subsidiary Perspective: An Alternative Approach In the earlier approach we analyzed that NPV of the investor is taken into account rather than project while deciding on whether to invest in a certain project or not. But if projects NPV is positive, it is bound to add to corporate wealth of firm as a whole. Under this approach two NPVs are computed, one from parent companys point of view and other is the NPV of the project. Finally the acceptance or rejection decision is based on NPV of both of them. In order to calculate the NPVP or Net Present Value from Parent companys perspective following steps are taken: Estimate the cash flow in foreign currency Estimate the future spot exchange rate on the basis of available forward rates Convert the foreign currency cash flow into home currency Find home currency using home currency discount rate Similarly to find out NPVS or Net present value from subsidiarys perspective following steps are taken: Estimate cash flow in foreign currency Identify the foreign currency discount rate Discount the foreign currency cash flow at foreign currency discount rate Convert the resultant NPV into the home country currency at spot exchange rate. In the above case the cash inflow represents the earnings of the project in foreign currency irrespective of the fact whether cash moves towards or away from the parent unit. The two methods above assume all-equity capital structure and so, if the parity conditions existed in the real world the two approaches would give the same value. But generally debt is normally included in capital structure in order to lower the cost of capital and furthermore parity conditions do not exist. The possible results could be: NPVP and NPVS: both negative and in such a case project is rejected NPVP and NPVS: both positive; in such a case project is accepted NPVP>0>NPVS: The project is attractive from parent companys point of view but not from subsidiary companys point of view. In such a case project could be accepted but there are chances of loss in value in terms of foreign currency. NPVP

Pittsburgh Steelers Essay -- essays research papers

The Pittsburgh Steelers Do you like professional football? Have you ever wondered where teams originate from? Or what teams have been around the longest? The Pittsburgh Steelers are a professional team that has an extensive history. There are also many unique details about them that other NFL teams do not have. There creator was a great man who started the team from practically nothing, their name and logo represent great tradition, and lastly, they have won many championships. The Pittsburgh Steelers were founded in July of 1993. The contract was purchased for only $2500.00 by Arthur Joseph Rooney. Art Rooney was an exceptional all-around athlete who also had a Bachelors degree in Accounting. In 1964, Rooney was inducted into the Pro Football Hall of Fame for his strenuous growth of the NFL and the Steelers. In 1988, at the age of 87, Rooney died of a stroke. He was the ruler of the Steelers for almost 55 years. Dan Rooney, his son, was handed the responsibility of being franchise president. Did you know the Steelers haven’t always been called the Steelers? When Arthur Rooney purchased the team he named them the Pittsburgh Pirates. He got this name from the Pittsburgh National League Baseball Team. But in 1940, the Pirates became the Steelers, in order to generate more fan support. This name came from the city’s primary source of employment. This was an honor for the Steelers, being able to represent Pittsburgh steel heritage. Team logos are essential as well. The Steeler...

Rose Madder- By Stephen King- Evaluation :: essays research papers

Rose Madder- by Stephen King- evaluation Plot Rosie lived with her husband Norman for fourteen painful and tormenting years, until she made the decision of her life, and therefor totally changed her life for all future times. Day after day Norman punched and beat his wife, who never could stand a chance. One damp morning in April she decided to hit the road in purpose to get rid of his evil fists. Totally unprepared for what the future might bring Rosie left their house with nothing but her purse, Norman’s creditcard and the clothes which she for the time being was wearing. She had nothing to loose. Her situation could hardly become worse; she was already in the kingdom of hell itself. Rosie brought out a few hundred dollars with Norman’s creditcard, before she took first best flight to the other side of the country. As she started experiencing her new hometown, eight hundred miles away from her husband, she met both kind and less kind people. Everywhere Rosie went she gazed over her shoulder in fear of spotting Norman. This Norman wasn’t a normal wife-torturing tormentor. He also was a cop who knows how to track people, after all that was his professional. If you read this book, which I suggest you do, you will see how things work out for Rosie. You will be able to follow Rosie’s new life as she makes new friends and how she equips her new apartment. One day she finds a very beautiful painting, but this very painting isn’t any kind of painting. It actually has magical powers†¦. I can’t unveil any more of the plot without destroying the readingpleasure, but there is one thing you should carry back in your mind as you read the book; the painting is the main element which most of the story circles round. Style and technique etc (dot four) â€Å"There is something inhuman about the way he looks as he comes toward her with his head lowered and his hands hanging at his sides and the long muscles in his thighs flexingâ€Å". As an affectionate King-fan I can assure you this is a typical Stephen King- line. After all he is the master of horror. Most recently I finished reading the King- novel â€Å"The eyes of the dragonâ€Å", which I have chosen to refer to in this case. â€Å"Flaggâ€Å" is the inhuman wizard who everyone is afraid of and not dares to face.

From Chiapas with Love Essay -- Graduate Law Admissions Essays

From Chiapas with Love One of the first mistakes I made in coming to IU was thinking that simply by studying I could understand the lives of people. I thought that if I learned enough- read enough books, talked to enough professors, attended enough forums, and developed my ability to artfully use jargon, I'd be powerful and wise before I knew it. The next mistake I made was to decide to study the Zapatistas. As I was soon to discover, the movement which has grown up around the Zapatista Army of National Liberation in Mexico is not something that can be studied, used, and forgotten. It is something that eats its way into you until you can't extricate yourself from it without seriously damaging who you are. These two bumbles led me, in my third year of university studies, to ask the IU Honors College for money to go to Chiapas to live in an autonomous community. I planned to study the people-their society, their culture, and their situation in the world. I thought it would be a nice way to top off my degree in Anthropology-an honors thesis, and something that could definitely be called an "international experience". Getting to Mexico was an international experience all in itself. I spent three days traveling through a foreign country before I reached the Mexican border. The country in which I was born seemed, in the full flower of September 11th hysteria, far more foreign than anything I could imagine down in the depths of the jungles of Southeast Mexico. After five days on buses of all shapes, sizes, and smells, I arrived in Chiapas, the Southeastern-most State in the Republic of Mexico. What I found there has left me, I think, a little outside the bounds of "appropriate distance" i... ...discomfort. I'm supposed to be a better person, and more adult. I can't say that. I'm ill-at-ease, pensive, and constantly seeing the faces of the people I know there in my dreams; hearing their voices telling their stories through my throat. I'm deeply uncomfortable in the world I live in, and I think about our future, the world's future, every day. I cry at night out of helplessness. I can tell you, my reader, that I learned from my time in Chiapas. I learned the most important lesson of my "university experience" there, from people who didn't understand what graduate school was. So here it is. After all, that's what the university is about, right? Sharing knowledge. Education provides the tools. It can never provide the quest. People tell their own stories best, and dignity is what you have left when everything else has been taken from you.

Negative effects of cartoons Essay

Parents should limit the amount and the content of cartoons their children watch. Cartoons have a lot of negative impact on children because kids are very influential in a young age, watching cartoons that have violent and ill mannered content in it lets the children get exposed to such things at an age where they cannot yet distinguish right from wrong and reality from fake. Cartoons are negatively influential because they have too much violence, they make kids inactive and ultimately over weight, they set up a mind set for the child’s behavior and how they should act. Cartoons can be used for good things too, such as education for preschoolers or they can help infants and babies get linguistic exposure and start talking early. Cartoons can also be used as entertainment to keep kids out of trouble or occupied while their parents are busy doing something. Although cartoons can be used in a positive way like education for kids, most cartoons are not for educational purposes and most parents do not realize that the cartoons their children watch are harmful to their child’s health, mentally and physically. Cartoons today are mostly about entertainment, and violence is the biggest factor in it. Children who watch violence depicted on TV are more likely to imitate those acts since in cartoons they do not show the after math of violence, so kids do not really know the consequences of violence and they do not know why it’s a bad thing. Violence is depicted as a cool or fun thing and an effective way to get what you want. Kidshealth say that â€Å"Kids who view violent acts are more likely to show aggressive behavior but also fear that the world is scary and that something bad will happen to them†. (Kidshealth.org) and other experts say that â€Å"Today’s animation and games are so realistic it can be hard for kids to tell the difference between ‘pretend’ violence and live action, making some animation just as disturbing as the real thing† (schoolatoz.nsw.edu.au). Cartoons like family guy where content like violence, aggression, sexual immaturity and bad language is  depicted in every episode and is a available for kids from all age groups like elementary kids to high school students. Family guy is an American adult animated sitcom created by Seth MacFarlane, its format is black comedy and surreal humor. In this cartoon the main character is Peter Griffin who is a middle aged man. Peter Griffins main activities are going to the bar to hang out with his friends and drinking, he is very immature and irresponsible in the way he acts and the things he does. In many episodes of the cartoon Peter Griffin ends up fighting with a rooster named Ernie, and they fight for like five minutes nonstop, destroing everything in their path. The family of Peter Griffin always fight and argue and that promotes domestic violence, especially to kids who do not know any better. All the characters in the cartoon are terrible role models, and almost every character does something terrible whether it is killing, drug use, drinking, perversity and more. This cartoon and others like it are available for children who watch TV without the supervision of their parents. Obesity is becoming a growing problem for kids because they are watching cartoons that advertise unhealthy eating and they spend too much time being inactive in front of the TV. A child who watches cartoons frequently probably has a favorite character that he or she likes, now the danger comes in when that child’s favorite cartoon character starts doing risky things that are ultimately or immediately harmful to them. If a cartoon character starts eating unhealthy, the child who admires that character will want to eat whatever they saw the cartoon character eat, and the children will even beg and cry to their parents to get the food product that has their favorite characters picture on it. Whether the food product is healthy or not their parents will end up buying it just to make their kids stop crying. Research shows that â€Å"children who consistently spend more than 4 hours per day watching TV are more likely to be overweight† (kidshealth.org). If there is an activity children might be doing that makes them active and on TV they have their favorite cartoon show on they will choose that cartoon show over playing and being active because the cartoons are designed to be entertaining and addictive to children. Most often children watch cartoons with a snack nearby and end up over eating and ultimately gain weight over a period of their childhood lives. Cartoons are an effective way to teach children school subjects through fun and humor to keep children interested and motivated to learn. Children tend to learn better and faster when they are shown or thought any subject by someone they like and if it is presented to them appropriately. Cartoons are attractive to children because they are made specifically for kids. Cartoons like Curios George, teach kids how to be adventures, generous, curious, to persevere and how to be friendly. Curious George also sets a good example for children to follow , like when George feeds the birds on his roof and when he helps out with groceries and how he is always considerate of others. Because of how attractive cartoons are to children, parents really need to be careful about what they let their children watch because cartoons could leave a big influence on them in a negative way. Yes there are some good affects of cartoons, however it still comes down to the need of the parents to monitor what their kids watch because after all, it is the parents responsibility to teach their kids how to have good morals and character and not some cartoon show that happens keep their children smiling or keep them busy while the parents do something else. Parents must not be tricked into thinking that because a story is presented in cartoon format it has a lesser impact on children. cartoons are harmful to children because they are too influential to kids and most cartoons today are violent and they send ill messages to kids like for example, that they need to be aggressive to get what they want or that they can be violent and get away with it without consequences. Cartoons that have violence almost never show the consequences of violence and that’s how children end up thinking that it’s not a bad thing and that way they eventually get desensitized to it. Cartoons can make children over weight because they are inactive for hours at a time and they are allowed to do this daily without the supervision of their parents. Cartoons can be used for good also like, they can teach children about nature and animals and they can learn about school subjects. Cartoons like â€Å"Dora The Explorer† where they teach kids new things about nature and they teach kids Spanish and how to be adventures. Cartoons can be used for good but that does not make them less harmful because they are still highly influential to kids because of how  much impact they can have on a child’s view of how they should behave. It comes down to the need of the parents to monitor the content of the cartoons they let their children watch and how involved they want to be in their child’s life and how they want their kids to grow up. Work Cited http://kidshealth.org/parent/positive/family/tv_affects_child.html#. Steven Dowshen, MD. October 2011. August 10, 2013. http://www.schoolatoz.nsw.edu.au/technology/using-technology/does-cartoon-violence-make-kids-more-aggressive. August 10, 2013.

The Twilight Saga 3: Eclipse Chapter 22. FIRE AND ICE

THE WIND SHOOK THE TENT AGAIN, AND I SHOOK WITH IT. The temperature was dropping. I could feel it through the down bag, through my jacket. I was fully dressed, my hiking boots still laced into place. It didn't make any difference. How could it be so cold? How could it keep getting colder? It had to bottom out sometime, didn't it? â€Å"W-w-w-w-w-what t-t-t-t-time is it?† I forced the words through my rattling teeth. â€Å"Two,† Edward answered. Edward sat as far from me as possible in the cramped space, afraid to even breathe on me when I was already so cold. It was too dark to see his face, but his voice was wild with worry, indecision, and frustration. â€Å"Maybe . . .† â€Å"No, I'm f-f-f-f-f-fine, r-r-r-really. I don't w-w-w-want to g-go outside.† He'd tried to talk me into making a run for it a dozen times already, but I was terrified of leaving my shelter. If it was this cold in here, protected from the raging wind, I could imagine how bad it would be if we were running through it. And it would waste all our efforts this afternoon. Would we have enough time to reset ourselves when the storm was over? What if it didn't end? It made no sense to move now. I could shiver my way through one night. I was worried that the trail I had laid would be lost, but he promised that it would still be plain to the coming monsters. â€Å"What can I do?† he almost begged. I just shook my head. Out in the snow, Jacob whined unhappily. â€Å"G-g-g-get out of h-h-h-ere,† I ordered, again. â€Å"He's just worried about you,† Edward translated. â€Å"He's fine. His body is equipped to deal with this.† â€Å"H-h-h-h-h-h.† I wanted to say that he should still leave, but I couldn't get it past my teeth. I nearly bit my tongue off trying. At least Jacob did seem to be well equipped for the snow, better even than the others in his pack with his thicker, longer, shaggy russet fur. I wondered why that was. Jacob whimpered, a high-pitched, grating sound of complaint. â€Å"What do you want me to do?† Edward growled, too anxious to bother with politeness anymore. â€Å"Carry her through that? I don't see you making yourself useful. Why don't you go fetch a space heater or something?† â€Å"I'm ok-k-k-k-k-k-kay,† I protested. Judging from Edward's groan and the muted growl outside the tent, I hadn't convinced anyone. The wind rocked the tent roughly, and I shuddered in harmony with it. A sudden howl ripped through the roar of the wind, and I covered my ears against the noise. Edward scowled. â€Å"That was hardly necessary,† he muttered. â€Å"And that's the worst idea I've ever heard,† he called more loudly. â€Å"Better than anything you've come up with,† Jacob answered, his human voice startling me. â€Å"Go fetch a space heater,† he grumbled. â€Å"I'm not a St. Bernard.† I heard the sound of the zipper around the tent door pulling swiftly down. Jacob slid through the smallest opening he could manage, while the arctic air flowed in around him, a few flecks of snow falling to the floor of the tent. I shivered so hard it was a convulsion. â€Å"I don't like this,† Edward hissed as Jake zipped the tent door shut. â€Å"Just give her the coat and get out.† My eyes were adjusted enough to see shapes – Jacob was carrying the parka that had been hanging on a tree next to the tent. I tried to ask what they were talking about, but all that came out of my mouth was, â€Å"W-w-w-w-w-w,† as the shivering made me stutter uncontrollably. â€Å"The parka's for tomorrow – she's too cold to warm it up by herself. It's frozen.† He dropped it by the door. â€Å"You said she needed a space heater, and here I am.† Jacob held his arms as wide as the tent allowed. As usual, when he'd been running around as a wolf, he'd only thrown on the bare essentials – just a pair of sweats, no shirt, no shoes. â€Å"J-J-J-J-Jake, you'll f-f-f-freez-z-z-ze,† I tried to complain. â€Å"Not me,† he said cheerfully. â€Å"I run at a toasty one-oh-eight point nine these days. I'll have you sweating in no time.† Edward snarled, but Jacob didn't even look at him. Instead, he crawled to my side and started unzipping my sleeping bag. Edward's hand was suddenly hard on his shoulder, restraining, snow white against the dark skin. Jacob's jaw clenched, his nostrils flaring, his body recoiling from the cold touch. The long muscles in his arms flexed automatically. â€Å"Get your hand off of me,† he growled through his teeth. â€Å"Keep your hands off of her,† Edward answered blackly. â€Å"D-d-d-don't f-f-f-f-fight,† I pleaded. Another tremor rocked through me. It felt like my teeth were going to shatter, they were slamming together so hard. â€Å"I'm sure she'll thank you for this when her toes turn black and drop off,† Jacob snapped. Edward hesitated, then his hand fell away and he slid back to his position in the corner. His voice was flat and frightening. â€Å"Watch yourself.† Jacob chuckled. â€Å"Scoot over, Bella,† he said, zipping the sleeping bag open farther. I stared at him in outrage. No wonder Edward was reacting this way. â€Å"N-n-n-n-n,† I tried to protest. â€Å"Don't be stupid,† he said, exasperated. â€Å"Don't you like having ten toes?† He crammed his body into the nonexistent space, forcing the zipper up behind himself. And then I couldn't object – I didn't want to anymore. He was so warm. His arms constricted around me, holding me snugly against his bare chest. The heat was irresistible, like air after being underwater for too long. He cringed when I pressed my icy fingers eagerly against his skin. â€Å"Jeez, you're freezing, Bella,† he complained. â€Å"S-s-s-s-sorry,† I stuttered. â€Å"Try to relax,† he suggested as another shiver rippled through me violently. â€Å"You'll be warm in a minute. Of course, you'd warm up faster if you took your clothes off.† Edward growled sharply. â€Å"That's just a simple fact,† Jacob defended himself. â€Å"Survival one-oh-one.† â€Å"C-c-cut it out, Jake,† I said angrily, though my body refused to even try to pull away from him. â€Å"N-n-n- nobody really n-n-n-n-needs all ten t-t-t-toes.† â€Å"Don't worry about the bloodsucker,† Jacob suggested, and his tone was smug. â€Å"He's just jealous.† â€Å"Of course I am.† Edward's voice was velvet again, under control, a musical murmur in the darkness. â€Å"You don't have the faintest idea how much I wish I could do what you're doing for her, mongrel.† â€Å"Those are the breaks,† Jacob said lightly, but then his tone soured. â€Å"At least you know she wishes it was you.† â€Å"True,† Edward agreed. The shuddering slowed, became bearable while they wrangled. â€Å"There,† Jacob said, pleased. â€Å"Feeling better?† I was finally able to speak clearly. â€Å"Yes.† â€Å"Your lips are still blue,† he mused. â€Å"Want me to warm those up for you, too? You only have to ask.† Edward sighed heavily. â€Å"Behave yourself,† I muttered, pressing my face against his shoulder. He flinched again when my cold skin touched his, and I smiled with slightly vindictive satisfaction. It was already warm and snug inside the sleeping bag. Jacob's body heat seemed to radiate from every side – maybe because there was so much of him. I kicked my boots off, and pushed my toes against his legs. He jumped slightly, and then leaned his head down to press his hot cheek against my numb ear. I noticed that Jacob's skin had a woodsy, musky scent – it fit the setting, here in the middle of the forest. It was nice. I wondered if the Cullens and the Quileutes weren't just playing up that whole odor issue because of their prejudices. Everyone smelled fine to me. The storm howled like an animal attacking the tent, but it didn't worry me now. Jacob was out of the cold, and so was I. Plus, I was simply too exhausted to worry about anything – tired from just staying awake so late, and aching from the muscle spasms. My body relaxed slowly as I thawed, piece by frozen piece, and then turned limp. â€Å"Jake?† I mumbled sleepily. â€Å"Can I ask you something? I'm not trying to be a jerk or anything, I'm honestly curious.† They were the same words he'd used in my kitchen . . . how long ago was it now? â€Å"Sure,† he chuckled, remembering. â€Å"Why are you so much furrier than your friends? You don't have to answer if I'm being rude.† I didn't know the rules for etiquette as they applied to werewolf culture. â€Å"Because my hair is longer,† he said, amused – my question hadn't offended him, at least. He shook his head so that his unkempt hair – grown out to his chin now – tickled my cheek. â€Å"Oh.† I was surprised, but it made sense. So that was why they'd all cropped their hair in the beginning, when they joined the pack. â€Å"Then why don't you cut it? Do you like to be shaggy?† He didn't answer right away this time, and Edward laughed under his breath. â€Å"Sorry,† I said, pausing to yawn. â€Å"I didn't mean to pry. You don't have to tell me.† Jacob made an annoyed sound. â€Å"Oh, he'll tell you anyway, so I might as well. . . . I was growing my hair out because . . . it seemed like you liked it better long.† â€Å"Oh.† I felt awkward. â€Å"I, er, like it both ways, Jake. You don't need to be . . . inconvenienced.† He shrugged. â€Å"Turns out it was very convenient tonight, so don't worry about it.† I didn't have anything else to say. As the silence lengthened, my eyelids drooped and shut, and my breathing grew slower, more even. â€Å"That's right, honey, go to sleep,† Jacob whispered. I sighed, content, already half-unconscious. â€Å"Seth is here,† Edward muttered to Jacob, and I suddenly understood the point of the howling. â€Å"Perfect. Now you can keep an eye on everything else, while I take care of your girlfriend for you.† Edward didn't answer, but I groaned groggily. â€Å"Stop it,† I muttered. It was quiet then, inside at least. Outside, the wind shrieked insanely through the trees. The shimmying of the tent made it hard to sleep. The poles would suddenly jerk and quiver, pulling me back from the edge of unconsciousness each time I was close to slipping under. I felt so bad for the wolf, the boy that was stuck outside in the snow. My mind wandered as I waited for sleep to find me. This warm little space made me think of the early days with Jacob, and I remembered how it used to be when he was my replacement sun, the warmth that made my empty life livable. It had been a while since I'd thought of Jake that way, but here he was, warming me again. â€Å"Please!† Edward hissed. â€Å"Do you mind!† â€Å"What?† Jacob whispered back, his tone surprised. â€Å"Do you think you could attempt to control your thoughts?† Edward's low whisper was furious. â€Å"No one said you had to listen,† Jacob muttered, defiant, yet still embarrassed. â€Å"Get out of my head.† â€Å"I wish I could. You have no idea how loud your little fantasies are. It's like you're shouting them at me.† â€Å"I'll try to keep it down,† Jacob whispered sarcastically. There was a brief moment of silence. â€Å"Yes,† Edward answered an unspoken thought in a murmur so low I barely made it out. â€Å"I'm jealous of that, too.† â€Å"I figured it was like that,† Jacob whispered smugly. â€Å"Sort of evens the playing field up a little, doesn't it?† Edward chuckled. â€Å"In your dreams.† â€Å"You know, she could still change her mind,† Jacob taunted him. â€Å"Considering all the things I could do with her that you can't. At least, not without killing her, that is.† â€Å"Go to sleep, Jacob,† Edward murmured. â€Å"You're starting to get on my nerves.† â€Å"I think I will. I'm really very comfortable.† Edward didn't answer. I was too far gone to ask them to stop talking about me like I wasn't there. The conversation had taken on a dreamlike quality to me, and I wasn't sure I was really awake. â€Å"Maybe I would,† Edward said after a moment, answering a question I hadn't heard. â€Å"But would you be honest?† â€Å"You can always ask and see.† Edward's tone made me wonder if I was missing out on a joke. â€Å"Well, you see inside my head – let me see inside yours tonight, it's only fair,† Jacob said. â€Å"Your head is full of questions. Which one do you want me to answer?† â€Å"The jealousy . . . it has to be eating at you. You can't be as sure of yourself as you seem. Unless you have no emotions at all.† â€Å"Of course it is,† Edward agreed, no longer amused. â€Å"Right now it's so bad that I can barely control my voice. Of course, it's even worse when she's away from me, with you, and I can't see her.† â€Å"Do you think about it all the time?† Jacob whispered. â€Å"Does it make it hard to concentrate when she's not with you?† â€Å"Yes and no,† Edward said; he seemed determined to answer honestly. â€Å"My mind doesn't work quite the same as yours. I can think of many more things at one time. Of course, that means that I'm always able to think of you, always able to wonder if that's where her mind is, when she's quiet and thoughtful.† They were both still for a minute. â€Å"Yes, I would guess that she thinks about you often,† Edward murmured in response to Jacob's thoughts. â€Å"More often than I like. She worries that you're unhappy. Not that you don't know that. Not that you don't use that.† â€Å"I have to use whatever I can,† Jacob muttered. â€Å"I'm not working with your advantages – advantages like her knowing she's in love with you.† â€Å"That helps,† Edward agreed in a mild tone. Jacob was defiant. â€Å"She's in love with me, too, you know.† Edward didn't answer. Jacob sighed. â€Å"But she doesn't know it.† â€Å"I can't tell you if you're right.† â€Å"Does that bother you? Do you wish you could see what she's thinking, too?† â€Å"Yes . . . and no, again. She likes it better this way, and, though it sometimes drives me insane, I'd rather she was happy.† The wind ripped around the tent, shaking it like an earthquake. Jacob's arms tightened around me protectively. â€Å"Thank you,† Edward whispered. â€Å"Odd as this might sound, I suppose I'm glad you're here, Jacob.† â€Å"You mean, ‘as much as I'd love to kill you, I'm glad she's warm,' right?† â€Å"It's an uncomfortable truce, isn't it?† Jacob's whisper was suddenly smug. â€Å"I knew you were just as crazy jealous as I am.† â€Å"I'm not such a fool as to wear it on my sleeve like you do. It doesn't help your case, you know.† â€Å"You have more patience than I do.† â€Å"I should. I've had a hundred years to gain it. A hundred years of waiting for her.† â€Å"So . . . at what point did you decide to play the very patient good guy?† â€Å"When I saw how much it was hurting her to make her choose. It's not usually this difficult to control. I can smother the . . . less civilized feelings I may have for you fairly easily most of the time. Sometimes I think she sees through me, but I can't be sure.† â€Å"I think you were just worried that if you really forced her to choose, she might not choose you.† Edward didn't answer right away. â€Å"That was a part of it,† he finally admitted. â€Å"But only a small part. We all have our moments of doubt. Mostly I was worried that she'd hurt herself trying to sneak away to see you. After I'd accepted that she was more or less safe with you – as safe as Bella ever is – it seemed best to stop driving her to extremes.† Jacob sighed. â€Å"I'd tell her all of this, but she'd never believe me.† â€Å"I know.† It sounded like Edward was smiling. â€Å"You think you know everything,† Jacob muttered. â€Å"I don't know the future,† Edward said, his voice suddenly unsure. There was a long pause. â€Å"What would you do if she changed her mind?† Jacob asked. â€Å"I don't know that either.† Jacob chuckled quietly. â€Å"Would you try to kill me?† Sarcastic again, as if doubting Edward's ability to do it. â€Å"No.† â€Å"Why not?† Jacob's tone was still jeering. â€Å"Do you really think I would hurt her that way?† Jacob hesitated for a second, and then sighed. â€Å"Yeah, you're right. I know that's right. But sometimes . . .† â€Å"Sometimes it's an intriguing idea.† Jacob pressed his face into the sleeping bag to muffle his laugher. â€Å"Exactly,† he eventually agreed. What a strange dream this was. I wondered if it was the relentless wind that made me imagine all the whispering. Only the wind was screaming rather than whispering . . . â€Å"What is it like? Losing her?† Jacob asked after a quiet moment, and there was no hint of humor in his suddenly hoarse voice. â€Å"When you thought that you'd lost her forever? How did you . . . cope?† â€Å"That's very difficult for me to talk about.† Jacob waited. â€Å"There were two different times that I thought that.† Edward spoke each word just a little slower than normal. â€Å"The first time, when I thought I could leave her . . . that was . . . almost bearable. Because I thought she would forget me and it would be like I hadn't touched her life. For over six months I was able to stay away, to keep my promise that I wouldn't interfere again. It was getting close – I was fighting but I knew I wasn't going to win; I would have come back . . . just to check on her. That's what I would have told myself, anyway. And if I'd found her reasonably happy . . . I like to think that I could have gone away again. â€Å"But she wasn't happy. And I would have stayed. That's how she convinced me to stay with her tomorrow, of course. You were wondering about that before, what could possibly motivate me . . . what she was feeling so needlessly guilty about. She reminded me of what it did to her when I left – what it still does to her when I leave. She feels horrible about bringing that up, but she's right. I'll never be able to make up for that, but I'll never stop trying anyway.† Jacob didn't respond for a moment, listening to the storm or digesting what he'd heard, I didn't know which. â€Å"And the other time – when you thought she was dead?† Jacob whispered roughly. â€Å"Yes.† Edward answered a different question. â€Å"It will probably feel like that to you, won't it? The way you perceive us, you might not be able to see her as Bella anymore. But that's who she'll be.† â€Å"That's not what I asked.† Edward's voice came back fast and hard. â€Å"I can't tell you how it felt. There aren't words.† Jacob's arms flexed around me. â€Å"But you left because you didn't want to make her a bloodsucker. You want her to be human.† Edward spoke slowly. â€Å"Jacob, from the second that I realized that I loved her, I knew there were only four possibilities. The first alternative, the best one for Bella, would be if she didn't feel as strongly for me – if she got over me and moved on. I would accept that, though it would never change the way I felt. You think of me as a . . . living stone – hard and cold. That's true. We are set the way we are, and it is very rare for us to experience a real change. When that happens, as when Bella entered my life, it is a permanent change. There's no going back. . . . â€Å"The second alternative, the one I'd originally chosen, was to stay with her throughout her human life. It wasn't a good option for her, to waste her life with someone who couldn't be human with her, but it was the alternative I could most easily face. Knowing all along that, when she died, I would find a way to die, too. Sixty years, seventy years – it would seem like a very, very short time to me. . . . But then it proved much too dangerous for her to live in such close proximity with my world. It seemed like everything that could go wrong did. Or hung over us . . . waiting to go wrong. I was terrified that I wouldn't get those sixty years if I stayed near her while she was human. â€Å"So I chose option three. Which turned out to be the worst mistake of my very long life, as you know. I chose to take myself out of her world, hoping to force her into the first alternative. It didn't work, and it very nearly killed us both. â€Å"What do I have left but the fourth option? It's what she wants – at least, she thinks she does. I've been trying to delay her, to give her time to find a reason to change her mind, but she's very . . . stubborn. You know that. I'll be lucky to stretch this out a few more months. She has a horror of getting older, and her birthday is in September. . . .† â€Å"I like option one,† Jacob muttered. Edward didn't respond. â€Å"You know exactly how much I hate to accept this,† Jacob whispered slowly, â€Å"but I can see that you do love her . . . in your way. I can't argue with that anymore. â€Å"Given that, I don't think you should give up on the first alternative, not yet. I think there's a very good chance that she would be okay. After time. You know, if she hadn't jumped off a cliff in March . . . and if you'd waited another six months to check on her. . . . Well, you might have found her reasonably happy. I had a game plan.† Edward chuckled. â€Å"Maybe it would have worked. It was a well thought-out plan.† â€Å"Yeah.† Jake sighed. â€Å"But . . . ,† suddenly he was whispering so fast the words got tangled, â€Å"give me a year, bl – Edward. I really think I could make her happy. She's stubborn, no one knows that better than I do, but she's capable of healing. She would have healed before. And she could be human, with Charlie and Rene, and she could grow up, and have kids and . . . be Bella. â€Å"You love her enough that you have to see the advantages of that plan. She thinks you're very unselfish . . . are you really? Can you consider the idea that I might be better for her than you are?† â€Å"I have considered it,† Edward answered quietly. â€Å"In some ways, you would be better suited for her than another human. Bella takes some looking after, and you're strong enough that you could protect her from herself, and from everything that conspires against her. You have done that already, and I'll owe you for that for as long as I live – forever – whichever comes first. . . . â€Å"I even asked Alice if she could see that – see if Bella would be better off with you. She couldn't, of course. She can't see you, and then Bella's sure of her course, for now. â€Å"But I'm not stupid enough to make the same mistake I made before, Jacob. I won't try to force her into that first option again. As long as she wants me, I'm here.† â€Å"And if she were to decide that she wanted me?† Jacob challenged. â€Å"Okay, it's a long shot, I'll give you that.† â€Å"I would let her go.† â€Å"Just like that?† â€Å"In the sense that I'd never show her how hard it was for me, yes. But I would keep watch. You see, Jacob, you might leave her someday. Like Sam and Emily, you wouldn't have a choice. I would always be waiting in the wings, hoping for that to happen.† Jacob snorted quietly. â€Å"Well, you've been much more honest than I had any right to expect . . . Edward. Thanks for letting me in your head.† â€Å"As I said, I'm feeling oddly grateful for your presence in her life tonight. It was the least I could do. . . . You know, Jacob, if it weren't for the fact that we're natural enemies and that you're also trying to steal away the reason for my existence, I might actually like you.† â€Å"Maybe . . . if you weren't a disgusting vampire who was planning to suck out the life of the girl I love . . . well, no, not even then.† Edward chuckled. â€Å"Can I ask you something?† Edward said after a moment. â€Å"Why would you have to ask?† â€Å"I can only hear if you think of it. It's just a story that Bella seemed reluctant to tell me about the other day. Something about a third wife . . . ?† â€Å"What about it?† Edward didn't answer, listening to the story in Jacob's head. I heard his low hiss in the darkness. â€Å"What?† Jacob demanded again. â€Å"Of course,† Edward seethed. â€Å"Of course! I rather wish your elders had kept that story to themselves, Jacob.† â€Å"You don't like the leeches being painted as the bad guys?† Jacob mocked. â€Å"You know, they are. Then and now.† â€Å"I really couldn't care less about that part. Can't you guess which character Bella would identify with?† It took Jacob a minute. â€Å"Oh. Ugh. The third wife. Okay, I see your point.† â€Å"She wants to be there in the clearing. To do what little she can, as she puts it.† He sighed. â€Å"That was the secondary reason for my staying with her tomorrow. She's quite inventive when she wants something.† â€Å"You know, your military brother gave her the idea just as much as the story did.† â€Å"Neither side meant any harm,† Edward whispered, peace-making now. â€Å"And when does this little truce end?† Jacob asked. â€Å"First light? Or do we wait until after the fight?† There was a pause as they both considered. â€Å"First light,† they whispered together, and then laughed quietly. â€Å"Sleep well, Jacob,† Edward murmured. â€Å"Enjoy the moment.† It was quiet again, and the tent held still for a few minutes. The wind seemed to have decided that it wasn't going to flatten us after all, and was giving up the fight. Edward groaned softly. â€Å"I didn't mean that quite so literally.† â€Å"Sorry,† Jacob whispered. â€Å"You could leave, you know – give us a little privacy.† â€Å"Would you like me to help you sleep, Jacob?† Edward offered. â€Å"You could try,† Jacob said, unconcerned. â€Å"It would be interesting to see who walked away, wouldn't it?† â€Å"Don't tempt me too far, wolf. My patience isn't that perfect.† Jacob whispered a laugh. â€Å"I'd rather not move just now, if you don't mind.† Edward started humming to himself, louder than usual – trying to drown out Jacob's thoughts, I assumed. But it was my lullaby he hummed, and, despite my growing discomfort with this whispered dream, I sank deeper into unconsciousness . . . into other dreams that made better sense. . . .