Catawba Industrial Company Essay

1.Is the company correct in its practice of not manufacturing standard model compressors on Sundays because of the accounting loss incurred on each unit? 2.The compressor department and its manager are evaluated based on profit. Compute the compressor department profit with and without Sunday production. 3.If Marge McPhee decides to manufacture ten light-weight compressors each week and to sell them at a price of $8,000, how much better or worse off financially would Catawba be? 4.What weekly production plan for standard and light weight compressors would result in the highest financial return for Catawba? That is, how many of each product should Catawba produce each week? Assume that you have been hired by Marge McPhee to help with the three decisions she must make: (1) whether to produce on Sunday, (2) whether to produce any light-weight compressors, (3) how many of each compressor should be manufactured each week. You will recommend and justify a course of action for each decision. McPhee wants to make the right decision for herself and her division, which is treated as a profit center and evaluated based on profit as computed in Exhibit 2. However, the correct decision model and her best interests (in terms of short term performance measurement) may not agree. As an accountant, you must inform her of this inconsistency and explain it so that she can, in turn, explain it to owners or top management. Be sure to discuss all the assignment questions within your written analysis. You will need to determine the optimal volume and price to choose the correct production schedule. Memo Instructions 1.The memo is an individual project, so you are expected to work on it yourself without seeking any one’s help other than the instructor. You should bring TWO complete copies of the memo and any exhibits to class. All assignments must be handed in by the beginning of the class. Bring a copy of the memo and/or detailed notes to class with you so you will be able to discuss the case intelligently in class. 2.Download and read the memo about writing memos provided by the communications specialists. You can download it from the course’s web page in the announcements section. 3.The memo should: a.Be written in proper memo format to Marge McPhee. Several templates are provided in MS Word. This assignment has a three-page maximum page limit, not including exhibits. b.Indicate the author’s name and show his/her handwritten initials. c.Begin with a short introductory paragraph stating the purpose of the memo, and end with a brief concluding paragraph. d.Your memo should contain at least the following sections: Sunday manufacturing, Minimum light-weight production, Optimal light-weight and standard production, and Performance evaluation issues. e.If you wish to use brief references to the work of others (including the text and readings assigned for this course, as well as any other sources you may choose), you must acknowledge the source using appropriate footnotes.

Succubus Dreams CHAPTER 14

I worked an evening shift that day and had made plans to have lunch with Maddie. She and I had worked several shifts together in the last week or so, but things were getting so crazy at the store that we hardly had a chance to talk anymore. â€Å"Well, aren't we the rebels?† she said when the waiter set two margaritas on the table. We were at the â€Å"unholy† place Peter, Cody, and Hugh had tried to lure me out to a few nights ago. â€Å"Nah,† I said, licking the edge of my glass. Salt and lime juice were proof of God's existence. And tequila was proof of Satan's. â€Å"We don't work for three more hours. We'll be sober by then. Besides, I'm your superior, and I say it's okay.† We clinked glasses and drank up. â€Å"I feel like I'm boring,† she told me halfway through our meal. â€Å"Not true.† â€Å"It is. I don't do anything with my life.† She held the glass by its stem, swirling the contents around and around. â€Å"Doug goes out every night, either to practice or party or whatever. Me? If I'm not at work, I'm home writing articles or watching reality TV.† â€Å"What do you wish you were doing instead?† â€Å"I don't know. There are lots of things I've thought about. Skydiving. Travel. Always kind of wanted to go to South America. But it's hard, you know? Those kinds of things force you to break out of your comfort zone.† â€Å"There's no reason you can't do those things. You're smart and capable, and I think you're braver than you give yourself credit for.† She smiled. â€Å"Why are you such a cheerleader for me?† â€Å"Because you're awesome.† The truth was, I was starting to realize, Maddie reminded me of myself when I'd been mortal. Not entirely comfortable with my body (I'd been insanely tall). Not always so adept socially (my sharp attitude had gotten me in trouble a lot). That version of me was centuries gone, but a kernel of it would always be within me. I gestured the waiter over and shook my glass at him. â€Å"Hey, Josh. Can you hook me up?† Josh the waiter, who looked too young to drink, took the glass with a grin. â€Å"You bet. Same thing?† â€Å"Yep. Although†¦I hate to tell you this, but it was kind of weak.† Josh adopted an offended air. â€Å"Was it? I'll yell at the bartender immediately. Maybe I'll make him come over and apologize on bended knee.† â€Å"No need,† I said magnanimously. â€Å"Just have him add an extra shot this time.† He gave a gallant bow and winked. â€Å"As you command.† Maddie groaned when he was gone. â€Å"See? I could never flirt that way. Certainly not with jailbait like him.† â€Å"Sure you can.† She shook her head. â€Å"No. I have the worst luck with men.† â€Å"How is that possible? You're always saying funny things to me.† â€Å"You're not a man. And I'm not afraid of you,† she explained. â€Å"You're afraid of Josh the waiter?† â€Å"Well†¦no, not exactly. But I just get so self-conscious. All flustered and stuff.† I leaned forward and spoke in a conspiratorial tone. â€Å"Trade secret. Everyone's self-conscious. Act like you aren't, and you'll be a superstar.† Josh brought me my margarita. I thanked him with more flirting while Maddie looked thoughtful. When he went to check on another table, she sighed. â€Å"Did you know that I've only ever slept with two guys?† â€Å"So?† â€Å"So, I'm twenty-nine! Isn't that sad?† I thought about my track record. No point even trying to count. â€Å"Just means you have standards.† She grimaced. â€Å"You haven't met the guys.† â€Å"So find a good one. Plenty of them out there.† I had a weird flash of d? ¦j? ¤ vu to past conversations with Tawny. â€Å"Not that I've seen. Well, except maybe Seth. He's one of the good ones.† She sighed. â€Å"He still hasn't mentioned our date.† â€Å"Hasn't he?† I'd have to get on him about that. â€Å"Yeah. Unless babysitting his nieces counts.† She shrugged. â€Å"It's okay. Like I said, I know he just did it because he felt bad. I appreciate the gesture. Oh hey, I overheard Seth saying something to Doug about how you wanted a Christmas tree. Are you having trouble finding one or something?† I groaned. â€Å"Not that again.† â€Å"So†¦you don't want one? Or do you? You seem like the kind of person who would.† â€Å"Honestly? I'm indifferent.† I shook my head. â€Å"It's something my friend Peter started, then he told Seth.† She cut me a suspicious look. â€Å"You know, you sure seem to hang out with Seth a lot.† â€Å"Hey, you can be friends with nice guys too.† I had no idea why I still felt the need to keep my relationship with Seth a secret. Some instinct told me it was the right thing to do. â€Å"Too bad,† said Maddie, finishing her own margarita. â€Å"I bet he'd treat his girlfriend like a princess.† â€Å"Yeah,† I agreed wryly. â€Å"So long as that princess doesn't mind a mistress. Sometimes I think his writing will always be his first love.† To my surprise, Maddie didn't laugh or look outraged. â€Å"Well, I think that's the price you've gotta pay if you want to be with a man like that. It might be worth it.† Now I became pensive, wondering if this was true. Was I too hard on Seth and his distractibility? When lunch wrapped up, we walked back – not too tipsy – to the bookstore. I nudged Maddie as we stepped inside. â€Å"Okay, here's the deal. In the next week, I want you to do three adventurous things.† She looked startled. â€Å"What kind of adventurous things?† â€Å"I don't know.† I pondered, thinking I might be drunker than I'd suspected. â€Å"The adventurous kind. Go out clubbing. Wear red lipstick. Doesn't matter. All I know is that there's going to be a pop quiz later, okay?† â€Å"That's ridiculous. It's not that easy,† she said with a scowl, turning away. â€Å"You can't just make something like that happen.† â€Å"Did I just hear you tell Maddie to go clubbing?† Seth's voice asked a moment later. She was already halfway across the store, and I doubted she'd take me up on my challenge. Too bad. I turned around to face him. â€Å"I'm helping her live life.† â€Å"By drinking in the middle of the day?† he teased. I pointed upstairs. â€Å"Don't you have a book to finish? I'll talk to you later. I have important things to do.† I felt only a little bad about dismissing him, seeing as we had dinner plans and would see each other later. He wandered off to write, and I threw myself into my work. Someone was home sick, so I got to be out amid the holiday shopping frenzy. Maddie worked a register beside me, and I was pleased to see how cheery and charismatic she was with customers. When closing time came, I stopped in front of the newspapers, looking for†¦well, I didn't know what. But I hadn't forgotten about that poor drowning victim. I wondered if there might be more about him – or more about anything that might help me figure out what was happening to me in my sleep. Sadly, the headlines offered no insight today. Seth and I drove to Pioneer Square for our late dinner and unsurprisingly couldn't find parking. We ended up several blocks away and were freezing by the time we entered the restaurant. The trek was worth it, though. This place was one of my favorites, serving up Cajun food spicy enough to chase away the winter chill. With gumbo and ? ¦touff? ¦e, it was hard to brood for too long. We'd almost finished dessert when my cell phone rang. I didn't recognize the number. â€Å"Hello?† â€Å"Hey, Georgina. This is Vincent.† â€Å"Hey,† I said, surprised to be hearing from him. â€Å"Look, I really need to talk to you in person. Is there any way I can see you?† â€Å"Right now?† â€Å"Yeah†¦it's kind of important.† I glanced over at Seth, who was finishing the last of his bread pudding. He was so easygoing, I doubted he'd mind if Vincent stopped by. â€Å"I'm out with Seth†¦Ã¢â‚¬  â€Å"It'll just take a few minutes,† Vincent promised. â€Å"Okay.† I told him where we were, and he told me he'd be there shortly. He wasn't kidding. I'd barely explained the situation to Seth when Vincent walked into the restaurant. â€Å"What'd you do, fly over here?† I asked as he slid into a chair beside us. â€Å"Nah, I was just close.† He gestured to the remnants of our desserts. â€Å"Looks good.† â€Å"It was great,† I said. â€Å"Now, what's up?† He hesitated and glanced in Seth's direction. â€Å"It's fine. Seth knows everything,† I assured him. The waitress came by and dropped off our receipt and change. Vincent studied Seth a moment more, then turned back to me. â€Å"Okay. I just have a quick question for you. We can talk about it on our way out.† The three of us set out into the cold again, heading toward Seth's car. â€Å"So,† Vincent began. â€Å"Remember that story you told me a little while ago? About the cop shooting his partner?† â€Å"Yup.† â€Å"Where'd you hear it?† We walked in silence for a few moments as I tried to remember. â€Å"I don't know. Probably on TV. Maybe I saw the headline at the store. Can't recall.† â€Å"Are you sure?† I frowned. â€Å"Positive.† Vincent sighed. â€Å"Well, here's the thing. I looked into that story and had a hard time finding out anything. It was never made public. I actually had to go investigate with some police sources.† â€Å"It had to have been made public. How else would I have known?† â€Å"That's what I'm trying to figure out.† I racked my brain. Where had I heard it? No clue. I'd just known it when I talked to Vincent that day. But, obviously, it hadn't sprung up in my head out of the blue. â€Å"Do you know anybody in the police department?† he suggested. â€Å"No one I would have talked to. Maybe I overheard someone. Seriously, I just†¦I just can't remember.† â€Å"What's the story?† Seth asked me. Puzzle pieces suddenly fell together. The cop was just like the guy who'd swam Puget Sound. Both had had a vision of something that wasn't true, but their subsequent actions had brought it about. And I had known about both stories before I should have. â€Å"Georgina?† asked Seth. â€Å"This cop went crazy in a store and started – â€Å" â€Å"Okay, just stop. Just fucking stop.† The three of us jerked to a halt as the voice came out of the darkness. In heading toward our remote parking spot, we'd strayed quite a ways away from the hustle and bustle of Pioneer Square. And from around a corner, a man in need of a shave and clean clothes had emerged. He made Carter look genteel. Muggings were rare in Seattle, but statistics meant little when actually being mugged. The man had a gun aimed at us. â€Å"Give me everything you've got,† he growled. He had kind of a wide-eyed, paranoid look, and I wondered if he was on something. Again, it meant little. He had a gun. We didn't. â€Å"Every fucking thing. Wallet. Jewelry. Whatever. I'll shoot. I swear to God, I will.† I took a step in front of Seth and Vincent, small enough not to raise the guy's alarms but enough to put me in the line of fire. I'd been shot before. It hurt, but it couldn't kill me. My humans were the ones in danger. â€Å"Sure,† I said, reaching into my purse. I kept my voice low and soothing. â€Å"Whatever you want.† â€Å"Hurry up,† he snapped. His gun was aimed squarely at me now, which was fine. Behind me, I heard Seth and Vincent rustling around for their wallets as well. With a pang, I realized I'd have to give up Seth's ring, which I'd worn on a chain around my neck tonight, but that was a small price to pay if we all walked away from this unscathed. Suddenly, I saw movement in my peripheral vision. Before I could stop him, Seth lunged forward toward the man and slammed him into the side of the brick building near us. I had never taken Seth for the fighting type, but it was actually pretty impressive. Unfortunately, it was not needed at the moment. Vincent and I sprang into the fray, moving at exactly the same time. The guy had been forced to lower his gun while Seth pinned him against the wall, but the attacker was struggling with the ferocity of a bear. Vincent and I tried to add our own strength, mainly hoping to wrest the gun away. It was one of those moments in time that seemed both really long and really short. Then, the gun went off. My two companions and I stopped moving. The guy used the brief lull to wiggle away from us and ran off into the night. I exhaled a breath of relief, grateful it was all over. â€Å"Georgina – † said Vincent. Seth sank to his knees, and that's when I saw the blood. It was all over his left thigh, dark and slick in the watery light of a flickering streetlight. His face was pale and wide-eyed with shock. â€Å"Oh, God.† I fell down beside him, trying to get a look at the leg. â€Å"Call 911!† I screamed at Vincent. Having anticipated me, he already had his cell out. Some part of my brain listened to him speaking frantically into the phone, but the rest of my attention was on Seth. â€Å"Oh God, oh God,† I said, ripping off my coat. Blood was pouring steadily out of the wound. I pressed my coat into it, trying to slow the bleeding. â€Å"Hang with me. Oh, please, please, hang with me.† Seth's eyes looked at me with both tenderness and pain. His lips parted slightly, but no words came out. I lifted the coat and looked at the wound. Vincent knelt beside me. â€Å"It won't stop, it won't stop,† I moaned. Vincent peered over my shoulder. â€Å"Femoral artery.† After over a millennium, I knew the human body and what could kill it. I would have realized what kind of a shot this was if I hadn't been so hysterical. â€Å"It'll drain him,† I whispered, pressing the coat into his leg again. I had seen it happen before, watched people bleed to death right in front of me. â€Å"It'll kill him before they get here. That bullet hit perfectly.† Beside me, I heard Vincent take a deep, shaking breath. Then, his hands covered mine. â€Å"Take it away,† he said softly. â€Å"I have to slow the bleeding.† But he gently lifted my hands away, taking the coat up as well. There was blood everywhere. I imagined I could see it steaming in the cold air. Vincent rested his hands on Seth's thigh, oblivious to the mess. Words formed on the tip of my tongue but never came out. The air around us began burning, and a prickling feeling raced across my skin. For a moment, Seth seemed to be bathed in white light. From Vincent, I suddenly had the sensation of dried lavender and humidity. It was tinged in something else†¦something I'd never hoped to sense again. Then, it all faded away. Vincent removed his hands, and when I looked down, blood no longer oozed from Seth's thigh. â€Å"I'm sorry,† gasped Vincent. â€Å"I'm not so good at healing, and if I do any more, the others will sense me. This will keep him alive until the ambulance gets here.† In the distance, I heard the faint sounds of sirens. In my chest, my heart thudded. The world slowed its pace. How long had Vincent said he'd known Yasmine? Fifteen years. Too, too long. He didn't look any older than thirty. They hadn't met when he was a teen. The timing didn't make sense. Neither did the fact that he had just healed a major injury. But none of that was as telling as what else I'd already discovered. For just a moment, he'd let his defenses slip, and I'd felt – an immortal signature. And while immortals have unique features of their own, all types of immortals have certain attributes that identify them by creature as well. Succubi. Vampires. Angels. Demons. Vincent's signature had given him away. The others will sense me. I stared at Vincent as red flashing lights rounded the corner. My eyes were as wide as Seth's had been. â€Å"You're a nephilim,† I breathed.

Honestly is the Best Policy

â€Å"Honestly is the best policy† is the best way to live life. This aphorism is something that my parents were constantly telling me when I was younger. All throughout life you are told to tell the truth and not lie. Lying about something will only make the problem worse. In my experience prolonging the truth from your parents just creates a bigger problem then you were trying to keep covered in the beginning. Once you start lying you then need to keep up with all the lies you told and make sure you remember them so you don't get caught. Sometimes depending on the gravity of what type of situation you lied in you can cause yourself a lot of stress trying to cover up the truth. When the truth comes which it almost always does you will disappoint the people around you. Most parents mine especially don't get mad at me rather they just tell me how disappointed they are. Sometimes hearing your parents say they are disappointed in you hurts more then them screaming at you. When you lie to your parents and they find out, they may feel like you are breaking their trust. Once you have broken that trust it will take a long time for you to rebuild it. You can also feel very guilty after you have lied to someone that holds an important place in your life. No matter how many times you tell them how sorry you are it won't change what you did. If you choose to live by â€Å"honesty is the best policy† and not lie you will feel no guilt or disappointment. Without all of the guilt and disappointment that lying brings you can live a happier and less stressful life. You also will not sever the sometimes very little trust that your parents have put in you. This will allow you have strong relationships with your parents and even give you the opportunity to strengthen them. Family is super important to me, so having a healthy and genuine relationship with my parents is what I would like. You won't have to deal with all of the stress that keeping up with your lies requires. Instead of causing yourself so much heartbreak just remember honesty is the best policy.

The Love Bug Virus Case Study Example | Topics and Well Written Essays - 500 words

The Love Bug Virus - Case Study Example A number of security threats such as viruses and worm programs cost business organizations, individuals and government agencies millions of dollars every year. Both the computer viruses and worms belong to a category of software called malware. In this scenario, a Malware or malicious code (malcode) refers to malicious software. In addition, it is a piece of code or software that is purposely developed or written to harm, break, interrupt, steal, or on the whole mete out some other â€Å"terrible† or unlawful act on data, information, hosts, or networks. Additionally, a computer virus is a kind of malware that can vary in harshness and damaging a system from causing slightly disturbing effects to destructing software programs or data and resulting denial-of-service (DoS) attacks. Normally, the majority of computer viruses are incorporated in an executable file, which shows that the virus can stay on a computer or machine however it may not be lively or able to extend until a u ser executes or runs the malicious host program or file. In this scenario, once the system user executes this host code, the infected file or code is also executed along with the program. In fact, the host program works properly even after it is harmed by the virus. On the other hand, a few types of viruses replicate other programs with copies of themselves, which eliminate the infected program and files all in all. Moreover, a virus can enter into a system and extend to other systems when software are connected to is distributed from one machine to another by making use of a USB drive, the network, file sharing, a disk, or infected e-mail attachments (IT Training & Education, 2009; Cisco, 2013; Neubauer & Harris, 2002; Singh & Lakhotia, 2002; Denning, 1990). On the other hand, computer worms are like viruses for the reason that they duplicate practical copies of themselves and can result in the same type of harm.

Big Five Assessment Essay Example | Topics and Well Written Essays - 250 words

Big Five Assessment - Essay Example Scoring high in Conscientiousness suggests that I am reliable, well-organized, self-disciplined, and careful. Since my aspirations involve helping families find solutions, these qualities would support my suitability and readiness. Reliability builds trust with clients, while the other qualities are essential for problem-solving. Because my score was not extremely high, I can assume that my need for being organized is not extreme, and I have the necessary flexibility for constant travel.   Ã‚  Ã‚  Ã‚   I scored in the 57th percentile in Agreeableness, which indicates that I am reasonably good-natured, sympathetic, forgiving and courteous. This suits professional service relationships.   I scored a percentile of 35 in the area of Openness, indicating that I am somewhat conventional, down-to-earth, have narrow interests, and am not particularly creative. I was surprised to see myself identified as being uncreative. This was not an extreme rating, so I can assume that I am not absol utely uncreative. Being conventional and down-to-earth will enable rapport with military families.I learned from this assessment that I am average, having scored neither extremely high nor extremely low. Most importantly, I received confirmation that I know myself well enough to have chosen a suitable career field, for which my personality contributes to my readiness. Safety concerns, adjustment challenges of military children, communication, stress. This specialty can require a lot of travel, locally and abroad.

THE COUNTRY OF GREECE Research Paper Example | Topics and Well Written Essays - 750 words

THE COUNTRY OF GREECE - Research Paper Example The Greeks were filled with the passion to fight for freedom. They spent 9 years fighting for their independence from 1821 to 1829. Their struggles ended up with the liberation of Greece when it was officially declared as an independent nation. The small part of Greece which was liberated then became the home for Greek patriots who gained the rule of lonian islands in 1864 (Gardiner et al 1985, p 382). Later on Epirus, Thessaly, Crete, Macedona, Western Thrace and Dodecanese islands were added to make this small nation one of the prominent states of the world. Greece is one of the members of European Union since 1981. It is a developed country and also a major part of other independent bodies working for the welfare of the member countries. Shipping and tourism are considered as the most profitable industries of Greece. Greek merchant ship fleet is also a reason of fame for this country. Greece follows the parliamentary democracy as its political system of Greece. This political system is defined in the constitution of Greece. The recent amendments in the constitution of Greece were found in May 2008. The powers lie with the Prime Minister and the cabinet and the government accepts the majority call in taking parliamentary decisions. The governmental system of Greece is divided into 3 branches. The executives include the president and the prime Minister who are designated as the head of the state and the head of the government respectively. The Legislative branch consists of a 300 seat unicameral â€Å"vouli† and the judicial branch comprises the Supreme Court (Clogg, 1987 pp 223-230). The Greek constitution distributes the political powers in 5 major components. These include the power held by the President of Greece, the legislative power, the power held by executives, the judiciary power and the power allocated to the local government of Greece. The electoral system adopted by Greece calls for more

Gender Roles and its Effect Essay Example | Topics and Well Written Essays - 1000 words

Gender Roles and its Effect - Essay Example The gender roles as defined by society therefore fail to pay attention to such groups who identify themselves as intersexual and transgender. Intersexual are individuals having male/female anatomical characteristics that deviate from the normal while transgender are those that identify with or express their gender identity through a gender that does not correspond to the sex at birth. In a society where a lot focus is placed on this gender binary, these individuals with characteristics that do not neatly fit the clear-cut male/female dichotomy face similar problems as socially constructed gender roles fail to accommodate them. Perceptions and judgments people hold about others are generally informed by social norms, which consequently leads to them gravitating to individuals that are least hostile to a society’s norms. To perceive and understand reality, people rely on senses, intellect and generally, held social constructs which makes them able to label certain objects and co ncepts. For example, a man is differentiated from a woman according to gender roles and behaviors that have been assigned to genders and are expected of them. Individuals who posses’ characteristics and behaviors regarded as ‘masculine’ by the society are identified as man, and vice versa. There is a complexity when individuals who do not identify themselves within the constraints of this gender binary fail to fit into the male/female duality. In her article, Judith Butler explains that through intelligibility, humans are able to recognize other humans based on â€Å"normal† human social and physical characteristics that are defined by the society. ... at a definable gender is necessary for understanding someone to be human, people hold dominant gender perceptions, which dictate that intersexed persons must conform to either male or female gender roles. Butler rather subverts gender roles, as she asserts that â€Å"justice is not only or exclusively a matter of how persons are treated or how societies are constituted. It also concerns consequential decisions about what a person is, and what social norms must be honored and expressed for ‘personhood’ to become allocated† (Butler, 58). She goes out of the norm to define justice not in terms of law but as the capacity to overlook the social norms that define an individual’s self-worth. According to her, justice is defined by the decisions held by a particular society in defining what it considers ‘human’. These include the accepted appearance, characteristics and behaviors of an individual. Individuals who portray characteristics and behaviors t hat deviate from what the society considers as the ‘normal’, their identity is questioned. A quandary arises since perceptions held by a society are not flexible to change for accommodation of such individuals, rather it is expected of the individuals to readjust and conform to the predefined gender roles. Gender roles are acquired through socialization whereby a society trains individuals to conform and practice certain values and behaviors. Judith Lorber states that, â€Å"gender construction start with assignment to a sex category on the basis of what the genitalia look like at birth†¦Ã¢â‚¬ ¦..a sex category becomes a gender status through naming dress and the use of other gender markers† when a child is born as sex is assigned to the child depending on the anatomical characteristics in particular the sex organs. As

Implementing Lean Approach to Eliminate Non-value-added Activity Essay

Implementing Lean Approach to Eliminate Non-value-added Activity - Essay Example With regard to the second question, it was determined that the JIT significantly decreases the total NVA in the WSS when the huge stock level is declined. This causes the obvious reduction in the variable costs; for example, opportunity costs and warehousing costs. By contrast, the TPM results in better productivity and product quality due to the higher effectiveness of the machine, which is caused by better maintenance systems and practices. Concerning the third question, both external and internal factors are the obstacles and limitations of the Lean application. Ultimately, this pilot research study functions as a guidepost for manager’s of paperboard companies, as well as other continuous operation companies lacking adequate sufficient models, that are seeking means of applying Lean production mechanisms to their firm’s supply chain system. The term, ‘Lean Production’ or ‘Lean Manufacturing’, was first introduced in the seminal book, The Machine that Changed the World by Womack et al. (1990) in order to represent the evolutionary approach against traditional thinking from the 1920s, ‘Mass Production System (MPS)’. This method intends to add values on products or services from the customers’ perspective and enhance efficiency by eliminating wastes or non-value-added activities (NVAs) in the production or supply chain. It requires all people, both management and operational level, in the organization to take part in the improvement (Womack and Jones, 2003; Liker, 2004). The Lean was previously known as ‘Toyota Production System (TPS)’ after the company that developed it in the 1940s. This approach was behind the successful growth of Toyota and other Japanese manufacturers, especially in the 1980s (Ohno 1988; Shingo 1989; Liker, 2004).

Clifton and Plath on the Feminine Identity Essay

Clifton and Plath on the Feminine Identity - Essay Example While they both appear to be in agreement on the nature of the feminine identity, their American perspectives differ vastly. Clifton, as an African-American, alludes to African themes, and brings into her poem questions about the duality within the African-American experience, and ultimately celebrates herself as a symbol of endurance. Plath's is decidedly different in its paradoxical nature. While her poem focuses on the vivacious and enigmatic legacy that she will leave behind, it is wholly centralized around her death, which creates a somewhat doomed undertone. But while both poets differ in their cultural perspectives, they both produce similar portrayals of the feminine identity as being one of strength, passion, and survival. Clifton brings many symbols to her poem that speak to the African-American, as well as the female experience. She describes herself as a "jungle girl/quick as a snake/a tree girl," (4-6). In aligning herself with such images as a jungle, a snake, and a tree-dweller, she is making a direct allusion to the African identity. Throughout American history, the image of the "African savage" was utilized as a means of persecution, keeping black-Americans under an oppressive rule by larger society. Africans were believed to be tribal jungle-dwellers, savage and uncivilized, and particularly dangerous for their lack of Christianization. Furthermore, the African religions were heavily focused on nature, spirits, demons, and magic, which made them even more frightening to white Americans, who were largely Protestant and highly hostile to Paganism and superstition. Clifton's reference to being "quick as a snake-" the snake being the Christian symbol of evil-seems to be an open embrace of the whi te-American view of the Africans as being aligned with evil and Satan-worship for their ritualistic beliefs. This embrace of a taboo culture is further emphasized in the repeated phrases: "I met me." She has met herself, meaning she has rediscovered her own identity-an identity that has long been buried under social beliefs that it was shameful, uncivilized, and even subhuman. But Clifton also brings a feminine element into her poem, calling herself a "jungle girl" and a "tree girl." Throughout western history, women have been aligned with nature, specifically with the cyclicality of nature, which is similar to the cyclicality of female fertility. Possibly even more revealing is Clifton's description of herself as being "quick as a snake." Snakes have also been ascribed to femininity as, in the Bible, it was a woman (Eve) who fell under the serpent's sway. On the Sistine Chapel, Michelangelo went so far as to paint the serpent itself as having the face and torso of a woman. Thus, Clifton is rediscovering two socially repressed identities: her African identity, and her feminine identity. She goes on to write:

Theory of knoledge - How does banking in venice during the 1300 to the Essay

Theory of knoledge - How does banking in venice during the 1300 to the 1400 compare to mondern day banking in venice - Essay Example The town life in Italy cities was bigger than in any other country. During this renaissance period, the governments of various nations were under dictatorship. However, due to the wealth created in the Italian cities such as Venice and Milan, they became autonomous city-states, each of which included an enclosed metropolitan center and the neighboring countryside. In addition, this modernization drove the city-states to create a new social system in the country. Wealth and ability was more important than aristocratic titles and ownership of land. During these times, the wealth merchants of the country together with bankers played a huge role in replacing the aristocrats in the upper class. According to their systems, shopkeepers and artisans were classified below the wealthy merchants, therefore forming a moderate and prosperous middle class that created and gave jobs to most of the poor people. The poor people from the countryside were classified at the very bottom of their social and economic ranking together with the peasants who worked in the co untry estates (Hildreth 5). During the same centuries of spiritual exploration, trade and industry revolution, and territory building, Venice was also a center of intellectual and artistic activity. The city had a huge number of mathematicians, philosophers, historians, and even humanists thrived from the fifteenth to the seventeenth century. The availability of such intellects paved way for major developments in the country. Venice became the printing hub of the country and was the most important printing press anywhere in the world at that time due to its high level of technology innovation. The development of a printing press paved way for the creation of receipts, which would then be used to acknowledge payments. The receipts would then be developed and be used as money to pay or settle for depts. This noble innovation paved way for the creation of banks in Italy

Describe in detail how you would go about isolating and studying the Essay

Describe in detail how you would go about isolating and studying the expression of the gene which appears to render the Southern Region population subgroup in saudi Arabia resistant to Type 2 diabetes - Essay Example Among these are the genes encoding leptin, tumor necrosis factor-alpha and adiptonectin. These genes may be involved in the development of insulin resistance. Therefore, to address the potential genetic association between resistance to type 2 diabetes, it is important to assess whether individuals whose phenotype shows resistance to the disorder are genetically screened to see if differences exist between the structure and/or activity of adipocytokine genes in groups women with similar risk factors (viz. obesity) and markedly different incidence rates for diabetes. A subpopulation of Saudi Arabian women has been identified that is resistant to the development of type 2 diabetes, despite incidence rates of obesity at the same level as the entire population of women in Saudi Arabia. The purpose of this research was to identify whether or not there was a genetic basis to this phenotypic observation. The present study involves a genetic assessment of the gene called resistin, previously identified in mice on chromosome 8 (Steppan et al, 2001). To study this gene in humans it was necessary to clone the gene. This process is initiated by a technique called fluorescent in situ hybridization (FISH). The mouse gene is used as a probe to identify the chromosomal location of its human gene counterpart. Since gene sequences are frequently homologous among different species, the related genes or orthologues can be used to identify similar genes in different species (Gregory & Hebert, 1999). The mouse gene is attached to a fluorescent probe and mixed with human chromosomal DNA that has been denatured (connverted to single stranded form). The fluorescent band identifies the chromosomal location of the gene in humans. The chromosome segment can then be cut with restriction enzymes and linked to an expression vector to generate a recombinant

Puritan Ideals of Work and Play in Our World Today Essay Example for Free

Puritan Ideals of Work and Play in Our World Today Essay When Columbus landed in the New World in 1492, he changed the world forever. When the Puritans landed in the same New World, they changed the tides of America’s future everlastingly as well. They brought with them many ideas that are still being used today. The Puritan work ethic was a huge portion of the beliefs carried by the community; it was the idea that all members should strive to do as much as they could for the community, and all should work to gain God’s favor. The Puritans’ idea of duty before self-fulfillment was another evident notion every Puritan held. They believed that everyone should do their obligations first and foremost before anything else. The life of a puritan was full of hard work which was done willingly to gain the favor of God and of the community, and contained the concept of fulfilling each person’s individual responsibilities and then only partaking in activities which where self-fulfilling; in our modern society we volunteer and each member of the family is given duties to complete, similarly to the jobs the Puritans held 100’s of years ago. In the Puritan world everything revolved around God. He was the cornerstone for every action they took. For them, one way to get redemption from the sins that they had committed was to work and toil for God and the people around them. In the Puritan era people helped one another, not for the chance to gain a reward, but a chance to gain favor amongst themselves, strangers and God. As William Bradford states, â€Å"But when he grew weak, they had compassion on him and helped him,† this refers to the time when the new colonists helped the sick sailors who had brought them there (Bradford 21). They did this just for the sake of helping others and in doing so gained more of God’s favor. This work ethic inspired the generations of people who followed, and created the standards for American work ethic, which are still being used today. In modern day America, people volunteer at a variety of places to help the poor, needy or injured. My parents when they had just got married spent quite a while at an orphanage in India to help the poor kids there, and I actively volunteer at Mercy Medical to help the sick and injured. Neither my parents nor I had to do so, but it gave us a sense that we were benefiting our communities. Like us, many people in America and the world help others, making the world a better place with every helpful hand. Just as the puritans strived to do work, they also strived to do work which was necessary, even if they did not relish it. For instance when given the choice between trimming tree to make it look better, or helping the neighbor sow his crops, most Puritan’s would choose the later. They had the notion to do your duty first, and all else came afterwards. The Puritan’s believed that the woman of the household should be a good mother and wife first and all else came second. In the same household a man should be a good husband for his wife and a supportive father of his children. In the community, there is not one person who does not have some sort of duty. In Anne Bradstreet’s poem To My Dear and Loving Husband, she describes her love for her husband as his wife, â€Å"I prize thy love more than mines of gold or all the riches the East doth hold (Bradstreet 35). Bradstreet made it quite clear that she was a wife before anything else, being a poet came afterwards. Many of her other poems are about family and hers sense of duty toward them. Puritan’s strove to make their children’s lives better, and by being responsible they entailed their kid to do so as well. In modern day America, every member of the household has a specific task that they must do. An example of this is my family, where my parents both maintain their jobs, while tending to the household chores of cooking, cleaning, etc. while my brother and I both do our jobs of doing well in school, while helping our parents where we can. Whether Puritan or modern day American, or Indian in my case, the idea is the same, everyone has tasks they need to do to maintain a functioning household. The Puritan work ethic simply entails that, only after all the work that is needed to be finished is done, should a person partake in other activities or chores. In the Puritan lifestyle family was important; to maintain a good family all the members of it needed to be diligent of their du ties. When someone volunteers in today’s world they are doing more work to make their society better, when the Puritans did extra hard work they tried to make their community better, and to have a better standing with God. The Puritan’s also did their duty to the best of their ability, and each member of the family functioned together to get their work finished. Both the Puritans and Modern day Americans were partook in hard work and were consistent with their duties to improve their community, and make it a better place for all to live in. All we have to do is maintain these standards in the future, do you think we can?

Design of Oil Storage Tanks

Design of Oil Storage Tanks Oil Storage Tanks 1-Introduction Storage tanks containing organic liquids, non organic liquids, vapours and gases are used in many industries. Most such tanks are designed and built in accordance with American Petroleum Institute API-650 specifications (1). These tanks can range in size from 2m to 60m diameter or more and are usually situated in containment basins so that spills will be contained if the tank ruptures. Storage tanks are commonly employed in industries involving petroleum production and refining, chemical and petrochemical manufacturing, bulk storage and transfer, and a variety of other industries consuming or producing liquids and vapours. 1.1-Types of storage tank There are basically there are eight types of liquid storage tanks, viz: (i)Fixed-Roof tanks (ii)External floating-roof tanks (iii)Internal floating-roof tanks (iv)Domed external floating-roof tanks (v)Horizontal tanks (vi)Pressure tanks (vii)Variable vapour-space tanks (viii)Liquefied natural gas (LNG) tanks The first four types of tank are cylindrical in shape with the central axis which is perpendicular to the ground. Such tanks are almost always employed above ground level. Horizontal trunks can be employed both below and above ground level. Pressure tanks are located above ground and are usually spherically shaped to provide the maximum strength to withstand high internal pressures. Variable vapour-space tanks can be spherical or cylindrical. A containment basin made of brick or concrete is normally built around tanks with a lining impervious to the stored material in order to contain spills that could cause fire, property damage or environmental contamination. The capacity of the basin should be at least equal to that of the largest tank plus ten percent of the sum of the capacities of others. Fixed Roof Tanks Fixed roof tanks are common in production facilities where it is required to store hydrocarbons with vapour pressures close to atmospheric pressure. A fixed-roof tank typically consists of a cylindrical steel shell with a dome-shaped or cone-shaped roof that is permanently fixed to the tank shell. Umbrella roofs are also common. Fixed roof tanks are used for storing very high flash-point liquids (e.g. fuel oil, water, bitumen etc.). They are generally fully welded and are now designed to be liquid and vapour tight, while older tanks with a riveted or bolted construction are not vapour tight. Fixed roof tanks are generally insulated to prevent the risk of clogging for some materials, heating coming via steam coils inside the tanks. Dome roofs are used for tanks with a storage pressure slightly higher than atmospheric. Fig 1. A Tank Farm showing a number of Fixed roof tanks Fig. 2. Typical domed fixed-roof tank Fig. 3 Umbrella fixed-roof tank The commonest fixed-roof design has a shallow cone roof with a single centre column and internal (or external) framing to provide support for the roof plates. This involves having rafters and girders pressed to the roof radius. Cone roofs are generally supported from the shell using trusses or rafters. For large cone-roof tanks columns and girders can be used to support the roof plates and rafters. Intermediate columns are used where the diameter is more than 37m. Designs may include a frangible roof joint (i.e. able to break into fragments when over-stressed) for added protection against a sudden increase in internal pressure. For this the design pressure limited is equivalent to the pressure of the total weight of the roof plates including structural rafters. If the storage pressures are going to exceed the capabilities of a cone-roof tant, then other fixed-roof designs such as the self-supporting dome roof or umbrella roof can be used. API Standard 650, (Appendix F) (1) designs permit internal pressures of up to 2.5 psig, depending on the tank diameter. For operating pressures of more than 2.5 psig, API Standard 620, (‘Design and Construction of Large, Low-Pressure Storage Tanks’) (2) has design procedures for internal pressures of up to 15 psig. Because of environmental concerns and to cut down on vapour losses designs tend to include internal floating decks in fixed roof tanks either at the time of construction or later as a retrofit (Fig 3). This has the advantages of both fixed and floating roof design. Fig. 3. Domed fixed-roof tank with inner floating roof and showing roof supports Emissions from fixed roof tanks vary depending on vessel capacity, utilization rate of the tank, vapour pressure of the stored liquid and the local atmospheric conditions. Losses of the stored product from evaporation can be large in fixed roof tanks – particularly for crude oil where vapours are released through the pressure vent valve. Losses are classed either as Breathing Losses or as Working Losses. Breathing losses occur when vapour expansion and contraction caused by changes in temperature and atmospheric pressure lead to the expulsion of vapor. This loss happens without any change to the liquid level in the tank. Working losses happen when the liquid level in the tank is increased. Fixed roof tanks are either freely vented or have a pressure/vacuum vent that allows the tank to operate at a slight internal vacuum or pressure. This stops the release of vapours when there are very small changes in pressure, temperature or to the liquid level. It is also possible to make t anks that are inert when there is a slightly positive gas pressure. Such tanks should have pressure-vacuum valves and when in use be purged with natural gas to remove air from the vapour space. Table 1 Advantages and disadvantages of different types of fixed-roof storage tanks (5) 2.1Gauge Hatches Fixed-roof tanks should have a gauge hatch in the roof which allows it to be opened quickly. This allows the operator rapid access to gauge the tank. Gauging comprised: measuring the volume of liquid in the tank finding out if water is present and, if so, measuring the height of the oil/water boundary sampling the material in the tank. determining the temperature of the liquid in the tank. The gauge hatch can be weighted so that it will work as a backup pressure or pressure-vacuum relief device to complement the primary pressure-vacuum valve. Fig 3 Typical gauge hatch Standards for the manual gauging of petroleum and its products are contained in the API Manual of Petroleum Measurement Standards (3). 2.2Filling or pumping operations Routine tank filling and pumping will affect the vapour space in a fixed-roof tank. Removing product from the tank draws air into the vapour space, creating a hazard. During the holding period prior to refilling the tank, evaporative breathing losses are increased because of the larger volume of the vapor space. Adding product to the tank, increasing the volume of liquid, displaces the the mixture of air and product vapour via the tank vent, causing significant evaporative emissions. 2.3Gas blanketing systems If the vapour pressure of the product in the tank is low (below 10kPa), it is safe practice to use a freely ventilated fixed-roof tank. For production tanks or other applications where the vapour pressure of the incoming liquid is usually higher than atmospheric pressure at usual ambient temperatures, a gas blanketing system is needed to maintain positive tank pressure and minimise the risk of air being sucked into the tank vapour space. At times when there is no inflow of product, the tank breathing process could, by itself, lead to air being drawn into the tank through the pressure-vacuum valve, forming a potentially explosive mixture. A gas blanketing system needs a supply of natural gas and a pressure regulator that works to keep the tank pressure at the desired level. When the ambient temperatures increase causing the pressure inside the tank rise, the regulator closes. If pressure continues to rise, the pressure vent opens to relieve the internal pressure in the tank by venting vapours (blanket gas plus product vapour) to the atmosphere or to some vapour recovery process. A vacuum relief valve must still be used to protect the tank against a vacuum forming if the gas blanketing system should fail. 2.4Fire Exposure Out breathing, caused by exposure to fire, may exceed the design venting rate based on normal operating conditions. If that happens, the tank’s construction details determine whether additional venting is needed. On fixed-roof tanks, where the roof-shell attachment is constructed according to API Standard 650 (1), the roof-to-shell joint may be considered frangible, so that excessive internal pressure may cause it to fail before failure occurs in either the tank-shell joints or in the shell-to-bottom joint. In tanks built in this way, there is no need for addition emergency venting systems, as long as the tank is well away from other equipment and the loss of the roof in an emergency is acceptable. On tanks that do not have frangible joints, design procedures are given in API Standard 2000 (4) for calculating the necessary venting capacity for fire exposure. 2.5Containment Basin Fixed roof tanks are constructed insida a containment basin made of brick or concrete and with a lining that should be impervious to the liquid being stored to prevent spills that can cause fire, property damage or environmental contamination. The minimum capacity of the basin should equal the capacity of the largest tank plus 10% of the combined total capacity of any others. To contain a spill or to prevent some other emergency the basin walls must be able to withstand high pressures and also be resistant to the stored product. The basin drain valve is put into the outer side of the containment basin and must normally be kept closed to prevent possible leakage of any contaminant into the environment.

Analysing strategic business decisions in us cereal industry

Analysing strategic business decisions in us cereal industry The purpose of this essay is to use game theory and barriers to entry to analyse strategic business decisions in the US ready-to-eat breakfast cereal industry. An industry analysis was done using different published journals. An overview of the oligopoly industry was also done for a broader understanding of the ready-to-eat breakfast cereals industry. Bertrand competition was used as the oligopoly model adopted by the industry. Game theory was used to analyse the strategy firms in the industry will adopt and a discussion on barriers to entry as it applies to the industry was done. Introduction This essay will discuss the US ready-to-eat breakfast cereals industry. An overview of oligopoly, discussions on Game theory, Nash equilibrium, Bertrand Price Competition and Barriers to Entry will be used to analyse the industry and the strategic business decisions as they relate to the industry Analysis of the Ready-to-eat Breakfast Cereals Industry Connor (1999) described the ready-to-eat breakfast cereal industry as a capital intensive industry requiring huge capital investments in production plants. To a large extent, this has contributed to Barriers to Entry in the industry. This industry market structure though having quite a few number of suppliers, is dominated by four major companies which are Kellogg Company, General Mills, Quaker Oats and Kraft. According to Nevo (2000) these companies have consistently continued to post high profits in comparison with the other food industries. A key characteristic feature of this industry is product differentiation. Brand specific knowhow is apparently present since established firms are sometimes unable to duplicate each others brand. The existence of this however, does not prevent them from producing, promoting and distributing successful new brands. Existing brands differ in such potentially relevant dimensions as sweetness, protein content, shape, grain base, vitamin content, fibre content and crunchiness (Schmalnesee, 1978) Connor (1999) has argued that competition in this industry does not involve the use of price war and therefore not a competitive strategy. Different researches conducted on the industry have shown that there is a level of collusion amongst the top firms though not openly done. This assumption was made popular by a case of anticompetitive complaint by the U.S. Federal Trade Commission against the top three manufacturers Kellogg, general Mills Post in the 1970s (Aviv Nevo, 2000) Because of the absence of price wars in the industry, the use of other non-price strategies to gain competitive advantage are employed by firms in this industry. The consistency of zero price wars over the years, however was broken when in the late nineties, a price reduction by Kraft led the other big three Kellogg Company, General Mills and Quaker oats to respond by also reducing their prices as suggested by ( Nevo, 2000). This pricing strategy by Kraft significantly affected the overall industry price forci ng its competitors to reduce their prices as well. Innovation through the launch of new products and aggressive media advertising are strategies employed by firms in the ready-to-eat cereals industry to compete for market share. This is a major factor contributing to the consistent high profits in the industry. The result of Connors (1999) research revealed that the rivalry in the breakfast cereals industry tends towards the choreographed grunts of televised wrestling than a cutthroat dual to the death and that the ultimate weapon, steep price cuts, is rarely unsheathed. According to Connor (1999), media advertising and new product introductions are intimately related. New product introductions are one of the principal mechanisms for effecting rapid price increases in the breakfast cereals industry. His research revealed that all the new cereals introduced by the big four companies between 1981 and 1987 in the first year of sales, were priced 12% above the companys existing brands average prices. Connor (1999) in his research further showed that the extraordinary attachment of consumers to branded cereals (or at least to the boxes they come in) has made entry by private-label products extremely difficult. This high degree of brand loyalty in the industry has significantly posed a threat to any firm considering entry into the industry. Invariably, the more a firms brand is recognised, the higher the sale of a newly introduced cereal will be. The cereal industry has oligopolistic tendencies and characteristics and will be classified as one. An overview on oligopoly below highlights the characteristic nature of oligopoly. Overview of Oligopoly Lipsey + Chrystal (1999) defined oligopoly as the theory of imperfect competition among the few. The industry is characterised by a few firms selling differentiated products. Because there are only few firms, each firm realises that its competitor may respond to any move it makes and takes that into account because each firms decision affects the other firms in the industry. Earl and Wakeley (2005) described firms in the Imperfect competition as having differentiated products which are close substitutes. These differentiated products are supported heavily by advertising. Advertising tends to persuade consumers to patronise a particular brand over other brands of the other competitors. Advertising is used as a crucial weapon to create brand loyalty in the industry as consumers are assumed to be highly mobile. The existence of strong brand loyalty makes entry difficult because consumers are likely to have strong preferences for the already existing brands. This implies that the behaviour of oligopolists are strategic with each firm taking explicit account of the impact of their decisions on competitors and the expected reactions from them (Lipsey + Chrystal, 1999, page 176). Besanko et al (2004) also defined oligopoly as a market in which the actions of individual firms materially affect the industry price level. The strategic behaviour of oligopolists is attributed to the highly competitive nature of the industry. For these firms to make strategic decisions that can give them comparative advantage, they make use of oligopoly models and game theory (Besanko et al, 2004). Game Theory and Bertrand Price Competition Besanko et al (2004) defined Game theory as the branch of Economics that deals with the analysis of optimal decision making when all decision makers are presumed to be rational and each is attempting to anticipate the actions and reactions of its competitors (Besanko et al, 2004, page 36) Game theory is a strategic business decision making tool in areas such as pricing and capacity expansion. Bertrand Price competition Model Besanko et al (2004) has described Bertrand competition as a model of competition in which each firm selects a price to maximize its profit given the price that it anticipates its competitor will select. Each firm views its competitors price as fixed and believes that its own pricing practices will not affect the pricing of the competitor. In an oligopolistic industry with differentiated products, price competition is usually mild. When products are differentiated, a firm will not lose all of its business to competitors that embark on a price cut. This is majorly attributed to competition being based on a variety of product parameters such as its quality, availability and advertising. The US ready-to-eat- breakfast cereal industry like all oligopolistic industries is highly competitive. The strategy of each firm will be to maximize profits and outputs given its rivals strategy. To use game theory to analyse what choice is best for a firm at any given point, two companies will be used; Kellogg Company and General Mills as they are one of the top four and are each others competitors. Game theory and Nash equilibrium will be used to analyse the best strategy for profit maximization given that each firm sets a price for its cereals. A Nash Equilibrium is the strategy combination where each player is doing its best given the strategies of its competitor. An assumption is made that each firm sets a price that maximises its profit and that a price cut by either of them to achieve a larger market share will impact their profits given the strong influence of brand loyalty. The consequences of each firms actions are described in the game matrix below; In the game above, the strategy (Co-operate, Co-operate) is both a Nash equilibrium and a dominant strategy because each firm maximises profit at this point. It is a Nash equilibrium because with the pay-off of ($120, $120) no firm will unilaterally want to deviate knowing that it will achieve a lower pay-off by doing so. Furthermore, co-operate strategy is a dominant strategy because no matter what the other firm chooses, to co-operate will always yield a higher pay-off. Barriers to Entry According to Earl and Wakeley (2005), barriers to entry exist when potential competitors find there are obstacles which hinder their proposed entry into an otherwise attractive industry. Typical barriers to entry include: incumbents owning all sources of essential raw materials; incumbents patents; economies of scale providing incumbents with a cost advantage; and incumbents past expenditure on advertising (which gives them a higher profile in the minds of buyers relative to newcomers). The important point to note about barriers to entry is that they protect all of the industrys incumbent firms from the threat posed by competition from outside of the industry As fierce as rivalries are and as highly competitive as the oligopolistic industry may be in nature, Lipsey + Chrystal (1999) stated that there are determining factors that make a few large firms dominate in the industry. According to Lipsey + Chrystal (1999), some of these factors are natural or structural, and some are firm-created or strategic. These same factors are deterrents to firms seeking entry into an oligopolistic industry. The natural/structural barriers as it applies to the cereal industry include economies of scale, cost of introduction of new brands and economies of scope, and marketing advantages of incumbency, while firm-created/strategic barriers include capacity expansion. Natural/Structural Barriers Economies of Scale According to Besanko et al (2004) production process for a specific product exhibits economies of scale over a range of output when the average cost drops over that range. Economies of scale exist when the unit cost of production declines as the quantity of output increases. When production becomes standardised and highly specialised, the concept of division of labour must be applied. Lipsey + Chrystal (1999) described division of labour as occurring when the production of a product is broken up into hundreds of simple, repetitive tasks. They further stated that the division of labour is, as Adam Smith observed long ago, dependent on the size of the market. If only a few units of products can be sold each day, there is no point in dividing its production into a number of specialised tasks. Lipsey + Chrystal (1999) further stated that larger firms have advantage in industries that have potentials for economies based on the division of labour because the larger the scale of production, the lower their average costs of production. Economies of scale also lead to minimum efficient scale. According to Besanko et al (2004) and Earl and Wakeley (2005) minimum efficient scale is the smallest level of output at which economies of scale cannot be sustained further. Minimum efficient scale can only be achieved in the long run. Based on this, it will be difficult for a firm considering entry to achieve MES because of the costly nature. The cereal industry is capital intensive and is dominated by a large few with the long years of existence. As a strategy to deter entry, the incumbent firms may decide to increase the quantity of output to further drive down their costs and achieve a higher rate of economies of scale. Because economies of scale are present in the industry, the incumbents average cost of production will be lower than that of a new entrant who will have difficulties trying to attain MES which can only be achievable in the long-run. Doing so will entail acquiri ng excess capacity and increasing production output which will both be costly and unprofitable as brand loyalty is extremely high in this industry. Costs of Introducing A New Product and Economies of Scope The cereal industry is categorised by the introduction of new brands. It will be difficult for a firm attempting entry to recover such costs in a short period of time bearing in mind that it will need to break even before making profits. Economies of scope are associated with lower cost scales derived from having multiple production lines within a plant. According to Besanko et al (2004) The ready-to-eat breakfast cereal industry provides a good example. For several decades, the industry has been dominated by a few firms including Kellogg, General Mills, General Foods and Quaker Oats, and there has been virtually no new entry since World War II. There are economies of scope in producing and marketing cereals. Besank0 et al (2004) further explained that for an entry to be successful in the ready-to-eat breakfast cereals industry, the newcomer will need to introduce 6 to 12 successful brands. This requires heavy capital and makes entry a risky proposition. The introduction of new brands is associated with a high cost of advertising. An incumbent firm in the cereal industry can consistently employ the use of introduction of new cereals to deter further entry by new firms. It will not be as expensive for the incumbent firm to advertise its new cereal product as it will be for a new entrant because of the high brand loyalty in the industry and the economies of scope cost advantages. C) Marketing advantages of incumbency Umbrella branding has been described as a situation whereby a firm sells different products under the same brand name (Besanko et al, 2004). According to Besanko et al (2004), an incumbent firm can exploit the umbrella effect to offset uncertainty about the quality of a new product that is been introduced. The umbrella effect may also help the existing firm negotiate the vertical chain. Retailers are more likely to devote scarce warehousing and shelf spaces to the firms new products more than it would for a new entrant. Likewise, suppliers and distributors may be more willing to transact businesses with the incumbent firms more than the new entrant in the areas of credit sales and relationship-specific investments (Besanko et al, 2004). Incumbent firms in the cereals industry can use umbrella branding as a strategy to deter new entry or force new entrants out of the industry. Umbrella branding also has an effect on consumers. The possibility of a newly introduced brands been widely a ccepted by consumers is higher for firms enjoying umbrella branding than for new entrants. Umbrella branding has the ability to reduce uncertainties associated with the introduction of a new cereal brand. Furthermore, the development of close relationships by an incumbent firm with its vertical chain is another strategy for barriers to entry. Firm-Created/Strategic Barriers Capacity Expansion The incumbent firm may decide to embark on capacity expansion. A new entrant will find it difficult to match up its plant size with the plant size of existing firms and may incur losses at entry. With the expansion of capacity and increased sales, the incumbent will continue to enjoy economies of scale thereby forcing new entrants who are unable to achieve such low unit cost of production out of the industry as their average cost of production may consistently be higher than the market price of the cereal brands and the price. Conclusion The ready-to-eat breakfast cereal industry is an oligopolistic industry requiring the firms to employ non-pricing strategies to maximize profits and sustain competitive advantage. Because the ready-to-eat breakfast cereal industry has natural barriers to entry, firms in this industry do not need to do much in the area of strategic barrier to entry to prevent of or force new entrants out of the market. However, the constant introduction of new cereals is crucial to earning higher profits.

An Analysis of Yeats’ An Irish Airman Foresees His Death Essay

An Analysis of Yeats’ An Irish Airman Foresees His Death It is an unspoken assumption that when a country goes to war the men fighting are honored and also that there is a large amount of support given to the soldiers from that particular community.   What is often over-looked is the fact that many of the men, who are partaking in battle, are in fact, boys who do not even know what they are fighting for.   Also, the community is not always supportive and helpful unless they see a personal benefit that will affect them in a positive way as an outcome of the war.   In â€Å"An Irish Airman Foresees His Death†, Yeats introduces us to a man who is fighting in the war, not knowing what he is fighting for.   Yeats also shows us, from a soldier’s view point, how a soldier feels while defending a country he does not feel any loyalty to, and how a soldier views the community he is laying his life on the line to protect. It is apparent immediately in the beginning of the poem that this airman has a very bad attitude about the way this war is going.   â€Å"I know that I shall meet my fate, Somewhere among the clouds above† (Yeats 154).   The airman is saying that he knows, or senses, the fact that he will not make it out alive of this war.   The reference made to â€Å"the clouds above† is simply reinforcing the fact that he is an airman in the war.   These first two lines really set the tone for a poem that turns out to be a very somber, depressing piece of work.   These two lines are symbolic of the airman’s attitude and take on life in general. The third and fourth lines of the poem, â€Å"Those that I fight I do not hate, Those that I guard I do not love† (Yeats 154), tell us how he feels about the soldiers he is fighting against, and also how he feels a... ... signs on life worth living in himself and sees no hope for a world where young men can sacrifice themselves for the good of their country, and in response, get virtually no response from the citizens at large. This poem was written in memory of Lady Gregory’s son, Major Robert Gregory, who died on the Italian front in January of 1918.   Its purpose is to show how damaging war can be and how unjust much of what happens during a war actually is.   It does not make sense that a soldier may not even like the people he is fighting next to, and that he may be able to relate better to the enemy than to his own troops.   Yeats, by writing this poem, made the reader conscious of the negative aspects of war. Works Cited Yeats, William Butler.   â€Å"An Irish Airman Foresees His Death.†Ã‚   Contained in, Norton Anthology of Modern Poetry, 2nd ed.   New York, New York:   1988.

Education and Class Essay -- Social Class

Class theorists argue that class provides the basic structure of society and is also the chief cause of the inequality of modern societies. The hierarchy of the Australia class system consists of a "ruling" upper class, a "white-collar" middle class, and a "laboring" working class. There is enormous inequality between the class groups and especially between the upper- and middle-classes and the working-class. What class you belong to plays a determining role in what sort of life you lead. Those at the top of the class structure typically seem to have more power, more wealth, more opportunities, and more control over their lives than those at the bottom. They also have a greater impact on society and use this advantage to manipulate society to serve their values and suit their needs.   Ã‚  Ã‚  Ã‚  Ã‚  This is no where more evident than in the social institution of education. Education is one of the great dividers amongst classes. The school you go to often determines what sort of qualifications you obtain, what job you get and, thus, how much money you earn and what class you move into. Education is a means in which individuals seek social mobility. Parents realized this long ago and some struggle to send their children to private schools to give them a better chance of succeeding in the class hierarchy. Other children, typically from working-class backgrounds, are victims of low expectations, both from their parents and internally, and leave school as soon as they can, moving into low-pa... Education and Class Essay -- Social Class Class theorists argue that class provides the basic structure of society and is also the chief cause of the inequality of modern societies. The hierarchy of the Australia class system consists of a "ruling" upper class, a "white-collar" middle class, and a "laboring" working class. There is enormous inequality between the class groups and especially between the upper- and middle-classes and the working-class. What class you belong to plays a determining role in what sort of life you lead. Those at the top of the class structure typically seem to have more power, more wealth, more opportunities, and more control over their lives than those at the bottom. They also have a greater impact on society and use this advantage to manipulate society to serve their values and suit their needs.   Ã‚  Ã‚  Ã‚  Ã‚  This is no where more evident than in the social institution of education. Education is one of the great dividers amongst classes. The school you go to often determines what sort of qualifications you obtain, what job you get and, thus, how much money you earn and what class you move into. Education is a means in which individuals seek social mobility. Parents realized this long ago and some struggle to send their children to private schools to give them a better chance of succeeding in the class hierarchy. Other children, typically from working-class backgrounds, are victims of low expectations, both from their parents and internally, and leave school as soon as they can, moving into low-pa...

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CASE: American Barrick Resources Corporation : Managing Gold Price Risk 1. In the absence of a hedging program using financial instruments, how sensitive would Barrick stock be to gold price changes? For every 1% change in gold prices, how might its stock be affected? How could the firm manage its gold price exposure without the use of financial contracts? Particulars for yr 1992($ million)| | Pretax earnings (Exhibit 2)| 223| Reductions in earning of gold sold at spot (1280mn oz x (422-345) (Exhibit 12)| (99)| Proforma Pretax Earnings| 124| Taxes @ 21% (Exhibit 2) | (26)| After Tax Earnings| 98| Thus in absence of risk management program the American Barrick stock would be more sensitive to gold price changes. This could also be observed from Exhibit 4 where the return on Barrick’s stock is continuously increasing as compared to other unstable major stocks in gold mining sector. Elasticity of Earnings & Profit for 1% change in Gold Price 1% change in gold price ($345)| $3. 45| Number of ounces| $1,280m| Additional pre-tax profits| $4. 4m| Additional after-tax profits| $4. 4 x (1-. 1) = $3. 5mn| Additional profits as % of earnings| 3. 5/98 = 3. 5% (approx)| Cash Flow = Earnings + Noncash charges| 98mn + 69mn = $167mn| Additional profits as % of cash flow| 3. 5/167 = 2. 1%| Thus with 1% change in gold price the earnings of Barrick would change by 3. 5%. The firm can manage its gold price exposure in following three ways: 1. Diversifying its business 2. Hedging against the gold price risk 3. Insuring against the gol d price risk Hedging involves entering into financial contracts and so does insuring against the gold price risk. Thus without being involved in any financial contracts Barrick can reduce its gold price exposure only by diversifying its business. 2. What is the stated intent of ABX’s hedging program? What should be the goal of a gold mine’s price risk management program? Stated intent American Barrick Resources Corporation is one the most financially successful gold-mining concerns in the world. The main stated intent of ABX’s hedging program was to profit handsomely even during a downtime, when gold prices are falling. The hedging position had allowed ABX to sell its commodity output at prices well above market rates. The main motive of the hedging program was to profit and gain an advantage over its competitors by hedging, at a time when the prices of gold were low and also interest rates were falling. Thus, the main intent of the hedging program was to position the organization as a low- cost commodity producer, willing to sacrifice potential profits from gold price peaks in order to level out potential losses in the future. Goal of a gold mine’s price risk management program The primary goal of a gold mine’s risk management program is to hedge the risk of falling gold prices and low interest rates, to ensure the minimum sale price of gold even when prices are declining. One of the main goal is to achieve financial stability. The risk management programs motive is to hedge risk in order to plan the future cash flows with certainty. Also, at a time, when an organization has immense production initially itself, the risk management program enables the firm to earn a predictable, rising earnings profile in the future inspite of rising production. Thus , the intent of the risk management program is to hedge the risk in such a manner, that its production decisions are not affected by the market price of gold. 3. What would convince you that a price risk management program created value for its shareholders ex ante? The American Barrick Resources Corporation, had since its inception a strategy of efficient risk management system to protect or hedge itself from the fluctuations in the Gold prices. The various risk management system coupled with favourable circumstances and opportunities of price locking, rendered an overall strong balance sheet for American Barrick. They were able to attract investors who shied away from gold mine investments due to price risk, due to the efficiency in hedging mechanism. In 1992, American Barrick produced and sold over 1. 28 Million Ounces of gold at a price of $422 instead of $345 market rate, as a result of the risk management program. Such benefits would lead to higher revenues, and thus higher profits and in turn render higher value for the shareholders. The organisation guidelines clearly specifed that the risk managemnt system should be such that they are fully protected against price declines for 3yrs and 20-25% for a decade. Thus such a mechanism helped create value for the shareholders as the profits of a Gold mine are dependent on fluctuation in gold prices and the difference between revenue and costs. Thus locking future prices, provided financial stability, enabling the organisation to avoids dips, and plan cash flows in a confident way, and in combination with the rising production, offered investors and shareholders a predictable , rising earnings profile in the future 1. How would you characterize the evolution of Barrick’s price risk management activities? Are they consistent with the stated policy goals? As a producer of commodity products, gold mining firms had virtually no marketing or distribution costs. There was always a ready market for their products, at market prices, once extracted from the earth & refined. Therefore a gold mine’s profits were a function of the quantity of its production & the difference between the prices at which it sold its output & its costs. To minimize the price risk, hedging is necessary. Being conservative in nature, company has maintained lower leverage. As per stated policy goals of company, Gold Hedging program gives American Barrick extraordinary financial stability. It protects shareholder’s wealth from the dip in gold prices. American Barrick’s hedging program evolved over history and used a wide range of tools to manage gold price risk. With gold financing, forward sales, options strategies & spot deferred contracts, company shed some of its price risk while maintaining flexibility to profit from rising gold prices. a. Gold Financing: In early days, Company’s gold price management activities were incorporated in financing for its mines. Company made its growth organically as well as inorganically. Almost every year, company madeacquisition of 1 gold mine company. For financing such acquisition, company used following tools Gold Trust: Paying specific percentage of gold production as return to investors Bullion Loan: Bank gives loan in gold form, company need to pay interest in gold terms only. Collateral is reserves company owns Limitations: Limited scope. b. Forward Sales: Production at Gold mine is highly inelastic in nature. ie Its not easy for the company to change the production in tune with the highly fluctuating demand, market prices. To avoid price risk, American Barricks used Forward Sales as tool by which company can lock in prices for future dates. Forward Sales are usually for relatively short delivery periods of under a few years. Normally forward sellers receive a premium (approx. 5%)above the current gold prices ensuring a guaranteed return of 5% for forward sellers. Limitations: Forward sale mitigates downside risk but also its ability to benefit if price rose. c. Options & Warrants: Hedging using Forward sales eliminated downside risk for the American Barricks but also its ability to benefit if price rose. To resolve this issue, from 1987 company started using Options and warrants. This allows company to hedge from downside risk and retain some benefits of rising prices. Board of American Barricks were ready to use options but in costless manner. Collars strategy: Simultaneously buying Put Option & writing Call Options on gold. Premiums and maturity of both call and put option is maintained same. This strategy ensured a price range for the gold in future giving opportunity to the company to get benefits from rising gold prices as well as downside protection if price dips. Limitation: Market for such options were liquid only for contracts with maturities under 2 years. This horizon was far shorter than 20 years of expected production currently in reserve. d. Spot Deferred Contracts: This tool gives additional feature to standard forward sale. In forward sale, the delivery date is fixed. In SDC there are multiple delivery dates. Seller chooses at which date he will pay gold. Forward price is decided at each roll over date depending upon current market price plus prevailing contango premium. ( SDC will be explained in detail in Q6. ) So during 10 years, American Barricks moved solely from getting gold financing, lock in future prices to getting strategic benefit due to inherent strengths of American Barricks over competitors using tools like Spot Deferred Contracts. 5. How should a gold mine which wants to moderate its gold price risk compare hedging strategies (using futures, forwards, gold loans, or spot deferred contracts) with insurance strategies (using options)? On what basis should these decisions be made? Once a firm has decided on either a hedging or an insurance strategy, how should it choose from among specific alternatives? One can characterize risk management strategies as either linear, hedging strategies (which eliminate all exposure to price fluctuations) or nonlinear, insurance strategies (which protect firms against falling gold prices only. ) Choices among instruments are determined by their relative costs (including transaction costs), interim liquidity requirements, accounting and tax implications, and the ability to customize the contract terms. For example, gold mining firms tend to use forward sales instead of futures contracts, at least in part to avoid the cash margin calls which futures transactions might entail. As another example, mining firms' preferences for spot deferred contracts over them functionally equivalent strategy of rolling forward contracts seems to be related to their relatively attractive accounting treatment. Distinguishing linear and nonlinear strategies becomes more difficult with dynamic trading. Suppose we observe a firm only selling gold forward. By a static measure, we would conclude that it was hedging. However, as is well known, through dynamic replication, a trader can create a put option by adjusting the amount of gold sold forward. Specifically, as the gold price falls, a dynamic replication strategy would have the firm short-sell more gold. Thus, distinguishing hedging from insurance strategies requires an analysis of the changes in a firm's equivalent short position (or delta-percentage) relative to changes in the price of gold. The sensitivity of cash flows and investment costs relative to changes in the underlying macro-variable are equal. If the sensitivities are equal, linear or hedging strategies will be optimal, otherwise firms would prefer to use non linear or option strategies. It is not apparent how to measure the degree to which mines face quantity risk. Firms facing borrowing constraints and that facing higher price risk might be more active users of options. Borrowing constraints might be more severe among firms with high operating costs, small market values, or small reserves; bankers might be reluctant to lend to high-cost producers that may be forced to shut-in production and to smaller firms with less collateral. It is reasonable to suspect that price risk might be more pronounced among mines with higher production costs. Firms with higher cash costs and those with smaller market values and reserves might be more likely to use options or price-contingent nonlinear strategies. 6. What is a â€Å"spot deferred contract? † Why has ABX chosen to rely on spot deferred contracts relative to other gold derivatives? Spot deferred Contract (SDC) is used by gold producers to hedge gold price exposure. It is a type of forward contract which has multiple delivery dates with the final one being 5 or 10 years after the initiation of the contract. The seller of SDC has the right to choose on which of the rollover date he will deliver the gold and can defer the delivery date till the end of the contract. Therefore spot deferred contract gives the right to the seller to choose the delivery date but has to deliver the quantity of gold specified in the contract. American Barrick entered into SDC with 1-year delivery or rollover dates where prices were set only for the first rollover date. On the rollover date, American Barrick could deliver the contract if forward prices were higher than spot prices or could roll the contract for the next period and sell the gold in the spot market. American Barrick chose to rely more on spot deferred contracts relative to other gold derivatives because of the following reasons: 1) Initially American Barrick entered into contracts for delivery within 3 to 4 years. Later on its bargaining power increased because of its large reserve base and strong financial position which made them negotiate agreements giving them 10 years within which to make delivery. 2) SDC was a way to profit from increase in price of gold yet set a minimum price on its sales of gold.

Psychotherapy Matrix Essay

Select three onslaughtes to summarize. Include examples of the geeks of mental disorders impound for each therapy. Insert persona of therapy onrushInsert type of therapy approachInsert type of therapy approach unofficial of Approach The psychodynamic approach to therapy seeks to bring candid and past conflicts from the unconscious to the conscious, heart and soul childhood memories and past memories that atomic number 18 buried wooden-headed in your memory or ones that you treasured to forget, are brought to the fore front to be discussed.Indivduals use repression to push threatening conflicts into the unconsciousness. This approach explores brakes down the unconsciousness for the healer and the patient. The styleal approach therapy build on the basic processes of bringing such as reinforcement and extinction, and assume that normal and unnatural are both learned meaning that you will learn things to modify deportment using some sort of teach which is classical or adverse.These types of conditioning enquire some sort of action that reduces the frequence of undesired behavior by colligation an unpleasant stimulus with the undesired behavior to teach or learn lessons. The cognitive approach to therapy teaches race to think in more adaptive ways by changing their dysfunctional cognitions about the valet de chambre and themselves meaning the cognitive approach helps people understand the thoughts and feelings that influence behaviors.People learn how to change their thinking and behavior. Disorders appropriate for this therapyAnxiety disorders that are appropriate for this type of therapy such as obsessive-compulsion disorder, bi-polar disorder, and phobic disorders. Disorders that are appropriate for this type of therapy include anorexia, phobic disorders, ADHD, autism. Disorders that are appropriate for this type of therapy include phobic disorders, first and anxiety disorders.

Did Government Violate Laissez-Faire Essay

After the Civil War, more business community endorsed the individualistic apprehension of political relation in order to farm effort. In this impression, politics did non interfere with exertion. that what came with this concept was un exceptional freedom for businessmen and high prices for consumers. While some businessmen supported a individuation(prenominal) concept of establishment between 1865 and 1900, the people did non take in from it, which led politics to delight this concept with their policies, just scarcely to a confine achievement overall.They go a adoptst laissez faire to a moderate terminus by military essence Railroad Land Grants forward 1870 and eliminating them after, to a great extent by Regulating inter separate commercialism with the interstate Commerce movement in 1886, and precisely to a limited extent by attempting to control charge act asivities with the Sherman antitrust good turn in 1890, producing a moderate politica l sympathies involvement overall. brass began to enrapture the concept of individualistic with its Railroad Land Grants. Laissez-Faire promoters believed that the government is best which governs least. While industrialists promoted this concept, it was already being violated when the national Government gave thousands of acres of land to Railroad companies in return for takeing stuns. These subsidies, in the fig of loans and land grants, totaled over cxxx million acres of creation land. (Doc D. ) The federal official government issued these grants in hope that the dragoon would increase the value of the land and submit out better pass judgment for carrying mail and transporting troops. more coerces continued to be built, including four former(a) transcontinental stuns.Of these four, James Hills Great Northern Railroad was the precisely one to be built without federal subsidies. These grants benefited the Railroad financiers greatly, especially Jay Gould who went into the business to direct quick profit by exchange off the assets and watering stocks. The grants were justified by financiers by saying that the squeezes provided for settlement of the due west and attracted immigrants, giving the land more credit, which was the governments main purpose to generate with.However, as more competition entered the industry, the force line system began to fail, and, in the 1870s the Federal government recognized this problem and complete their policy of grants to railroads. This policy proscribed the offspring of subsidies to associations or corporations engaged in public or private enterprises. (Doc F) By publish this resolution, Congress eliminated itself from the railroad industry, promoting the concept of Laissez-Faire. So while congress was a spacious part of industry before 1870, violating Laissez-Faire, they eliminated themselves from it, and promoted Laissez-Faire from that point on.This shows that congress violated Laissez to a mod erate extent, because they violated it before 1870 but not after. Later, government violated Laissez-Faire in another way, by regulate interstate commerce. Before 1886, many a(prenominal) an(prenominal) states had Granges, neighborly and educational organizations for farmers and their families who aimed to defend its members against the middlemen, trusts, and railroads. husbandmans in many states successfully lobbied their state legislatures to pass rights adjust railroad rates.In the case of Munn v Illinois in 1877, the Supreme chat up upheld the recompense of a state to regulate businesses of a public nature, like railroads. But these laws, called Granger laws, could totally regulate local and short-haul rates within their states. In the case of Wabash v. Illinois in 1886, the Supreme Court ruled that states could not regulate interstate commerce that was go away up to the federal government. Because many railroad companied raised their long-haul rates after the grange r laws were adopted, the federal government needed to do to the outcry of farmers and shippers.It recognized that the railroad industrys benefits had been attained to, in effect, build up the strong at the write off of the weak (Doc J. ) The federal government worked to bushel this problem by freeing the Interstate Commerce Act in 1886. This Act required railroad rates to be reasonable and just, and set up the showtime federal regulatory agency, the Interstate Commerce Commission (ICC. ) This law affected the railroad industry greatly, and the results were astounding. In effect, it increased railroad earnings, and put an end to rebates and drawbacks. (Doc L. ) This act was colossal in government intervention in industry.By issuing this act, the federal government aimed to help the cries of the farmers and shippers, and in effect violated laissez faire by involving itself directly in the railroad industry from state to state, and also avoid previous laws regulating the railro ad industry passed in individual states. This shows that the government did violate industry to a great extent when it came to regulating Interstate Commerce. As a select few became very moneyed by forming trusts in their special(a) industries, the government violated Laissez-Faire by trying to control trust activities.In the 1880s, many middle class citizens feared the power that trusts gave industrialists, and urban elites resented the increasing influence of the new thick men in America. Because so many businessmen were developing trusts and were the only ones benefiting from business, potty Sherman, a Senator from Ohio, was inspired to pass the Sherman Antitrust Act in 1890 by reformers who failed to defend trusts on the state level. The Act prohibited any contract, combination, in the form of trust or otherwise, or conspiracy in restraint of trade or commerce.Sherman believed the act would provide every man with his mighty to work, labor, and produce and to transport his production on equal terms. (Doc N. ) The Act, however, hardly did that. It was purposely create verbally vaguely in order to promote loose interpretation. This was partly because those holding the trusts were bribing state legislatures. Since the state legislatures appointed senators, and senators were all stand for equally in each state, monopolists would demoralize the state legislatures in order to get the candidate they wanted in the senate, who in turn would affect the passage of anti-trust laws. on that point were very few federal prosecutions issued nether the act between its passing in 1890 and 1901, a total of 17 in 11 years. (Doc Q. ) In one particular case of United States v E. C. gymnastic horse Co in 1895, the Supreme Court ruled that the Sherman Antitrust Act could be applied only to commerce, not to manufacturing. (Doc P. ) Because of this case, the US Department of Justice secured few convictions until the law was changed during the Progressive Era. So while the federal government attempted to regulate the industry and prevent trusts, it barely did so.Because of the weak verbiage of the act, trusts failed to stop developing. The federal government baffling itself in the industry because of the complaints and fears of the powers that those who held trusts had, and though it conglomerate itself in the industry by issuing a law and enforcing it slightly, the supreme court of justice rulings and loose interpretation of the law allowed minute alterations to the industry, showing that the federal government only violated individuality to a limited extent.As it can be assumed, the businessmen of industrial era promoted individualistic only when it benefited their business. They manipulated people in order to gain what they wanted-a monopoly. As stinting problems began to surface with the laissez-faire system, government began to intervene. Though they were involved to a great extent in the railroad system initially, they eliminated themselv es from it after 1870, only violating the laissez-faire system to a moderate extent overall.When it came to interstate commerce, the government violated laissez-faire to a great extent by issuing the interstate Commerce Act. And with this issue of trust activities, the government only intervened to a limited extent by passing the Sherman Antitrust Act and then impuissance to execute it. All of these things show that government violated laissez-faire to a moderate extent, and this was because the laissez-faire system did not benefit society as a self-coloured and government needed to fix economic and social problems.