Impact of Stock Split on Stock Return

Proceedings of ASBBS Volume 16 Number 1 THE IMPACT OF STOCK SPLIT ANNOUNCEMENTS ON STOCK PRICE: A TEST OF MARKET EFFICIENCY Garcia de Andoain, Carlos Longwood University carlos. [email  protected] longwood. edu Bacon, Frank W. Longwood University 2O1 High Street Farmville, VA 23909 [email  protected] edu Phone: 434-395-2131 Fax: 434-395-2203 ABSTRACT The purpose of this study is to test whether the investor can make an above normal return by relying on public information impounded in a stock split announcement. Using risk adjusted event study methodology, this study tests â€Å"how† and â€Å"when† public announcements of forward and reverse stock splits affect stock price. Stock split announcement samples include 38 two for one, 39 three for two, and 10 reverse splits. A total of 36,714 observations for the announcement samples and the corresponding S&P 500 stock index were analyzed using standard risk adjusted event study methodology. Results suggest that the firms’ public stock split announcements did not affect stock price on the announcement day. Rather, for the two for one and three for two forward split samples, stock price exhibited a significant positive reaction up to 27 days prior to the announcement. For the reverse split sample, stock price exhibited a significant negative reaction up to 30 days prior to the announcement. Results support the semi- strong form efficient market hypothesis since stock prices adjust so fast to public information that no investor can earn an above normal return by trading on the announcement day. Investors greet forward stock split announcement with a positive sign, whereas they view reverse splits as bad news. Management may be using stock splits to adjust stock price to a more marketable range, downward with forward and upward for reverse splits. Evidence here suggests signs of insider trading activity up to twenty-seven days prior to the announcement of the stock split. INTRODUCTION Stock split announcements have always been very common phenomena among firms and continue to be one of the least understood topics in finance. A stock split announcement increases the number of shares of a company while decreasing the price per share. The two for one split is most common, for example a company with 500 shares at $10 per share will issue 500 additional shares bringing the total to 1000 shares theoretically dropping the stock price to $5 per share. A stock split usually takes place after an increase in the price of the stock, and it carries a positive stock price reaction. (Asquith) This phenomenon has not yet been fully understood, regardless the numerous studies in the field. ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 BACKGROUND Barker (1956) presented one of the most popular theories to explain stock split behavior. Barker findings failed to consider the split action itself. Barker’s study concluded that price changes occurred because of the increase in cash dividends and not from the split action. (Johnson). According to the â€Å"signaling hypothesis†, managers use stock split announcements to convey positive information about the firm (Ikenberry, Rankine, Strice). Investors see a stock split announcement as a positive thing, whereas a reverse split does not convey favorable information. Fama (1969) suggests that the stock market is â€Å"efficient†, meaning that stock prices adjust very fast to new information. The theory of market efficiency is concerned with whether prices reflect all the public available information or not (Fama 1970). Efficiency implies that it is impossible for the investor to earn an above normal return from public information. PURPOSE The purpose of this event study is to test market efficiency theory by analyzing the impact of three samples of stock split announcements on the firm’s stock price. Stock split announcement samples include 38 two for one, 39 three for two, and 10 reverse splits. Specifically, how fast does the market price of the firms’ stock react to the samples of regular and reverse stock split announcements examined? The study tests whether the investor can make an above normal return by relying on public information imbedded in a stock split announcement, as well as if stock price is affected by a stock split announcement. This study investigates if acting on public information is enough to have an unusual return, or if there must be an illegal action such as inside trading to be able to â€Å"outperform† the stock market. Which form efficiency is the market? Research shows that the market is semi-strong form efficient. An above normal return can only be gained from inside information, and not when acting in public information. LITERATURE REVIEW Fama defined market efficiency in terms of how quick the stock market reacts to the information and suggested three kinds of market efficiency: Weak form, semi-strong and strong form efficiency. If market is weak for efficient, then stock price reacts so fast to all past information that no investor can earn an above normal return (higher than the market or the return on the S&P 500 index). This study shows how investors will not earn a high return from acting on public information (stock split announcement), while investors having access to inside information will make an abnormal return. A second kind of market efficiency is semi-strong. It states that stock price reacts so fast to all public information that no investor can earn an above normal return (higher than the market or the return on the S&P 500 index) by acting on this type of information. (Fama 1970). Splits usually result in high market valuations, but study done by Fama (1970), Dodd, Patell and Wolfson, found that there is no evidence of abnormal return after the release of public information. They concluded that the market assimilates and takes into consideration public information very fast, within 5 to 15 minutes after the disclosure (Malkiel). This supports the idea that an investor acting on public information will not earn an above normal return. When this happens the market is said to be semi-strong form efficient. If the market is strong form efficient, then stock price reacts so fast to all information (both public and private), that no investor can earn an above normal return (higher than the market or the return on the S&P 500 index) by acting on this kind of information. Studies made by Friend, Brown concluded that profit can only be gained by having access to private or inside information, which is illegal. Fama ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 presents evidence supporting that efficiency is not met in the strong form and that the semi-strong form is more accurate. This study agrees that stock split announcement are affected in a company stock price according to the semi strong form efficiency which states that stock prices reacts so fast to all public information that no investor can earn an above normal return after the announcement is made. An example would be information concerning a merger. If an investor would buy shares on the announcement day of the merger, the semi strong market efficiency believes that the investor would never be able to earn an above normal return, because adjustments had already been done in the stock price. The market has already been adjusted, so therefore the only way to outperform the market in this case would be by using inside information. METHODOLOGY: This study includes samples of companies that announced a two for one, three for two or reverse stock split announcement. These companies trade their stock in either the NYSE or NASDAQ. The Data for this study was collected from http://finance. yahoo. com/. The announcement date (Day 0) is the day that the stock splits are announced. Every stock return from the companies and from the S&P 500 index was also collected. The Event Study proceeds as following: 1. Historical prices for both the firms and the S&P 500 were collected from day -180 to day +30, being the event period -30 to +30 and Day 0 the announcement day. 2. Holding Period Return was calculated for all the companies as well as for the S&P 500 on the event period days (-180 to +30). HPR was obtained from the following formula: Current Daily Return = (current day close price – previous day close price) / prev. Day close price 3. A regression analysis was performed, being the current firm return the dependent variable and the S&P return the independent variable. The data that was used was the one belonging to the pre-event period (from day -181 to -30). The alpha and the beta were obtained from the regressions. 4. The expected return for each firm as well as for the S&P 500 was calculated: Expected Return = (Alpha + Beta) x S&P actual return 5. Excess Return was obtained from the difference between Actual and Expected Return. Excess Return = Actual Return – Expected Return 6. Average Excess Return (for the Event period) was calculated as: Average Excess Return (AER) = Total Excess Return / n (number of firms in the sample) 7. Cumulative Average Excess Return for the event period (Day -30 to Day +30) was calculated by adding the AER for each day in the event period. 8. A correlation test was done with AER and CAER. The graphs represent AER and CAER plotted against Time. ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 Table 1 describes 38 companies that split their stock on a two for one basis between December 1, 2006 and May 14, 2007, along with their respective alphas and betas. TABLE 1: TICKER AFAM ACLI COMPANY NAME Almost Family Inc. American Commercial Lines Inc Selective Insurance Group Inc. ZOLL Medical Corp Trimble Navigation Ltd. Albemarle Corp Guess? Inc. Cooper Industries Ltd Jacobs Engineering Group, Inc GameStop Corp Sealed Air Corp. Carlisle Companies Inc CarMax Inc. Harsco Corp. Amphenol Corp Cabot Oil & Gas Corp Nike Inc Cummins Inc Greif Inc DATE ANNOUNCED Dec 11 Feb 06 TRADED INDEX NASDAQ NASDAQ ALPHA 0. 01665915 -0. 000394377 BETA 0. 08530878 2. 602491516 SIGI ZOLL TRMB ALB GES CBE JEC GME SEE CSL KMX HSC APH COG NKE CMI GEF Jan 30 Jan 25 Jan 25 Feb 07 Feb 14 Feb 14 Jan 26 Feb 12 Feb 16 Feb 08 Feb 22 Jan 23 Jan 17 Feb 26 Feb 15 Mar 08 Feb 26 NASDAQ NASDAQ NASDAQ NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE -0. 000319706 0. 004077614 -0. 000187534 0. 0022 37728 0. 001589658 0. 000761731 0. 001074342 0. 000477979 0. 00085897 -0. 001167829 0. 003087277 -0. 001056001 0. 000467862 0. 000826123 0. 001079523 -0. 000720045 0. 02203648 1. 38328513 1. 207411999 1. 321541131 1. 327988752 2. 246784079 1. 308635864 1. 946533548 1. 721660362 1. 172042857 1. 346601558 1. 240366727 1. 658082593 1. 86971211 1. 568927816 0. 553921446 1. 980439113 1. 880200397 ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS VLGEA AZZ ATR TSO GEO TSBK VSEC MRO GIL NRG CROX AGN PMFG MIDD SJR PVA GILD PBR STR Village Super Market Inc AZZ incorporated AptarGroup Inc Tesoro Corporation Geo Group Inc Timberland Bancorp Inc. VSE Corp Marathon Oil Corp. Gildan Activewear NRG Energy Inc. Crocs, Inc Allergan Inc PMFG Inc Middleby Corp Shaw Comm CL Penn Virginia CP Gilead Sciences Petroleo Brasileiro Questar CP Mar 21 Apr 09 Apr 18 May 01 May 01 Apr 25 May 01 Apr 25 May 03 May 02 May 03 May 02 May 04 May 04 May 10 May 08 May 08 May 11 May 14 NASDAQ NYSE NYSE NYSE NYSE NASDAQ NASDAQ NYSE NYSE NYSE NASDAQ NYSE NASDAQ NASDAQ NYSE NYSE NASDAQ NYSE NYSE Volume 16 Number 1 0. 00054113 0. 002118906 0. 00174286 0. 00160687 0. 002825174 0. 000615586 0. 001278324 0. 000144992 0. 003089016 0. 00241574 0. 00282982 -0. 000453038 0. 002024817 0. 02028334 0. 001186211 -0. 00050926 . 000009116 -0. 00064373 -. 000142796 1. 351096108 0. 681656728 0. 033542167 0. 973844695 1. 578867077 0. 107464578 2. 457597999 0. 986395517 0. 000111517 0. 316285515 1. 783171812 0. 952984111 0. 039990601 1. 964415725 0. 938731083 1. 1695925 1. 517629839 1. 817825121 . 706466451 Table 2 describes 39 companies that split their stock on a three for two bases between August 23, 2006 and May 15, 2007, along w ith their respective alphas and betas. TABLE 2: ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS TICKER NGA EPIQ BAM WMS VIVO IEX ATLS VSEA BWS WCN RSG JCTCF MDCI PFBC CMCSA SWS BKE VOL SSI FMD CRVL GBCI AFG SPAR COMPANY NAME North AM Gav Epiq Systems Inc Brookfield Asset MGT V M S Industries Inc Meridian Bioscience IDEX Cop Atlas America Inc Varian Semicond Brown shoe corp Waste connections Republic SVCS Jewett Cameron Inc Medical Action IND Preferred Bank LA Comcast Cp A SWS Group Inc Buckle Inc Volt Info Science Inc Stage Stores Inc First Marblehead Corp Corvel CP Glacier Bancorp American Financial Group Spartan Motors Inc DATE ANNOUNCED May 15 May 10 May 02 May 07 April 19 April 04 April 27 April 24 March 08 Feb 12 Feb 01 March 13 Jan 09 Jan 25 Feb 01 Nov 30 Dec 12 Dec 20 Jan 09 Nov 10 Nov 13 Nov 29 Nov 15 Nov 02 TRADED INDEX NASDAQ NASDAQ NYSE NYSE NASDAQ NYSE NASDAQ NASDAQ NYSE NYSE NYSE NASDAQ NASDAQ NASDAQ NASDAQ NYSE NYSE NYSE NYSE NYSE NASDAQ NASDAQ NYSE NASDAQ Volume 16 Number 1 ALPHA -0. 001032797 0. 001183339 0. 000859066 0. 002219704 0. 0011736 22 0. 000243421 0. 000488161 0. 001788461 0. 000592124 -0. 000187979 -0. 000441765 0. 000124622 0. 001559912 0. 000301413 0. 001381697 0. 000530857 -. 000641295 0. 001338437 0. 000540995 0. 004563185 0. 003763906 0. 000329484 0. 000736169 0. 003450361 BETA 1. 997738247 1. 038735222 1. 251257403 1. 094503791 1. 550013068 1. 509306631 0. 38871871 2. 207840195 2. 599167684 0. 92152423 0. 761431985 -0. 512126102 1. 004029551 0. 867741293 0. 927831638 2. 477624454 1. 602298009 2. 358292804 1. 756904894 0. 830932855 2. 113368174 1. 743070573 0. 936337426 0. 519840545 ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS SBIB AEO CTBK IRM PERY EAT AME WGNB ACAP UBSH EML MCBI CASS CCFH Sterlin Bancshares American Eagle Outfitters Inc Trico Bankshares Iron Mountain Inc Perry Ellis International Brinker International Inc Ametek Inc WGNB Corp American Physicians Cap Union Bankshares Corp Eastern Co Metrocorp Bancshares Cass Information Systems CCF Holding Co Oct 31 Nov 14 Nov 08 Dec 07 Nov 21 Nov 02 Oct 25 Sep 18 Sep 26 Sep 07 Sep 28 Aug 04 Jul 24 Aug 23 NASDAQ NYSE NASDAQ NYSE NASDAQ NYSE NYSE NASDAQ NASDAQ NASDAQ AMEX NASDAQ NASDAQ NASDAQ Volume 16 Number 1 0. 001127642 0. 003616084 0. 001058586 -0. 0000284 0. 002794647 -0. 000020642 0. 00005895 0. 00024115 0. 000317657 -0. 00058103 0. 000419721 0. 000941528 0. 003356848 0. 002118726 1. 165421403 1. 593723526 1. 432917191 0. 627633001 0. 919648907 0. 886164833 1. 31003146 -0. 00226624 0. 066171033 1. 663620313 0. 22686963 0. 121493122 0. 113211419 -0. 08732041 Table 3 describes 10 samples of companies that split their stock on a reverse basis between August 27, 2003 and September 15, 2008, along with their respective alphas and betas. TABLE 3: TICKER OPWV ERIC IWOV SIG COMPANY NAME Openwage Systems LM Ericcson Telephone Co Interwoven Inc Signet Jewelers LTD DATE ANNOUNCED Oct 09 Oct 18 Aug 27 Sept 11 TRADED INDEX NASDAQ NASDAQ NASDAQ NYSE ALPHA 0. 00680888 -0. 006696905 0. 001398048 -0. 000938713 BETA 2. 51286756 1. 949328188 1. 469236928 0. 891488791 ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS BFLY REV CNXT IACI TMTA ERIC Bluefly Inc Revlon Inc Conexant Systems Inc. IAC/ InterActiveCorp Transmeta Corporation LM Ericcson Telephone Co April 3 Sep 15 June 2 June 09 Aug 15 April 09 NASDAQ NYSE NASDAQ NASDAQ NASDAQ NASDAQ Volume 16 Number 1 -0. 00449535 0. 000925943 -0. 004900502 -0. 001442165 -0. 002052045 -0. 004006643 0. 070525685 0. 902722337 1. 73193906 0. 982384488 1. 265168622 -0. 16807384 To test for semi-strong market efficiency the following null and alternative hypotheses are used for the three stock split samples: H10: The risk adjusted return of the stock price of the sample of firms announcing stock splits is not significantly affected by this type of information on the announcement date. H11: The risk adjusted return of the stock price of the sample of firms announcing stock splits is significantly positively affected by this type of information on the announcement date. H20: The risk adjusted return of the stock price of the sample of firms announcing stock splits is not significantly affected by this type of information around the announcement date as defined by the event period. H21: The risk adjusted return of the stock price of the sample of firms announcing stock splits is significantly positively or negatively affected around the announcement date as defined by the event period. QUANTITATIVETESTS AND RESULTS: Did the market react to the announcements of regular two for one, the regular three for two, and the reverse stock splits? Was the information surrounding the event significant? A’priori, one would expect there to be a significant difference in the Actual Average Daily Returns (Day -30 to Day +30) and the Expected Average Daily Returns (Day -30 to Day +30) if the information surrounding the event impounds new, significant information on the market price of the firms' stock. If a significant risk adjusted difference is observed, then we support our hypothesis that this type of information did in fact significantly either increase or decrease stock price. To statistically test for a difference in the Actual Daily Average Returns and the Expected Daily Average Returns over the event period day -30 to day +30, we conducted a paired sample t-test for the three samples and found a significant difference at the 5% level between actual average daily returns and the risk adjusted expected average daily returns. Average Excess Return (AER) graphs are shown below. Results here support the alternate hypothesis H21: The risk adjusted return of the stock price of the sample of firms announcing stock splits is significantly affected around the announcement date as defined by the event period. This finding supports the significance of the information around the event since the market’s reaction was observed. ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 Is it possible to isolate and observe the samples’ daily response to the announcement from day -30 to day +30? If so, at what level of efficiency did the market respond to the information and what are the implications for market efficiency? Another purpose of this analysis was to test the efficiency of the market in reacting to the three samples of stock split announcements. Specifically, do we observe weak, semi-strong, or strong form market efficiency as defined by Fama, 1970, in the efficient market hypothesis? The key in the analysis is to determine if the AER and CAER are significantly different from zero or that there is a visible graphical or statistical relationship between time and either AER or CAER. T-tests of AER and CAER both tested different from zero at the 5% level of significance. Likewise, observation of the following CAER Charts (graphs of CAER from day –30 to day +30 for each sample) confirm the significant positive reaction of the risk adjusted returns for the two forward split samples up to 27 pre-announcement and a significant negative reaction for the reverse split sample up to 30 days prior to the stock split announcement. Two for one stock split announcements: ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 Three for two split announcement: ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 Reverse split announcement: ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 There are three forms of market efficiency as defined by Fama, which are strong, semi-strong and weak form efficiency. Observation of the CAER graphs against time for two for one and three for two stock split announcements shows a positive reaction twenty seven days prior to the announcement date. Reverse splits are normally done in order make the stock more appealing for investors with an unusual low market price. (Lawson) Also, reverse splits might be used in order to reduce the number of shareholders of the company. As an example if a 1-10 reverse stock split is made effective, the investor will have ten times less shares than before, but at ten times the price. In the reverse split case, the CAER graph suggests that return falls from day -30 until day -15, while then increasing until day 10. After day 10 the stock starts to level off. CAER graphs for two for one and three for two stock splits show how excess return rises up to 27 days prior to the announcement day. From Day 0 until Day 30 stock returns start to level off. This evidence supports Hypothesis H10, which states that stock price is not affected by this type of information on the announcement date. The stock return has already been adjusted before the stock split announcement is made. The investor cannot outperform the market by using public information. The price has already been affected by the announcement of two for one and three for two stock split announcement. After the announcement day, from days 6 to 16 the return goes up, which is caused by investors that react favorably to the announcement by buying more shares. After this small increase, stock price decreases and levels off. The CAER graphs support the idea that the market is semi- strong form efficient. For the samples analyzed, public information does not affect stock price on the announcement day. Reaction is observed up to 27 days prior to the announcement date which suggests that to be able to â€Å"outperform† the market you must be aware of inside information. CONCLUSION: The purpose of this study was to test whether the investor can make an above normal return by relying on public information impounded in a stock split announcement. Using risk adjusted event study methodology, this study tests â€Å"how† and â€Å"when† public announcements of forward and reverse stock splits affect stock price. Stock split announcement samples include 38 two for one, 39 three for two, and ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 10 reverse splits. A total of 36,714 observations for the announcement samples and the corresponding S 500 stock index were analyzed using standard risk adjusted event study methodology. Results suggest that the firms’ public stock split announcements did not affect stock price on the announcement day. Rather, for the two for one and three for two forward split samples, stock price exhibited a significant positive reaction up to 27 days prior to the announcement. For the reverse split sample, stock price exhibited a significant negative reaction up to 30 days prior to the announcement. Results support the semi- strong form efficient market hypothesis since stock prices adjust so fast to public information that no investor can earn an above normal return by trading on the announcement day. Investors greet forward stock split announcement with a positive sign, whereas they view reverse splits as bad news. Management may be using stock splits to adjust stock price to a more marketable range, downward with forward and upward for reverse splits. Evidence here suggests signs of insider trading activity up to twenty-seven days prior to the announcement of the stock split. ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS REFERENCES: Volume 16 Number 1 Asquith, Paul, Paul Healy, and Krishna Palepu. â€Å"Earnings and Stock Splits. † The Accounting Review 64 (1989): 387-403. Barker, C. A. , â€Å"Effective Stock Splits,† Havard Business Review, XXXIV (January-February, 1956), pp. 101-106 Easely, David, Maureen O'hara, and Gideon Saar. â€Å"How Stock Splits Affect Trading: a Microstructure Approach. † The Journal of Financial and Quantitative Analysis 36 (2001): 25-51. Fama, Eugene F. Efficient Capital Markets: a Review of Theory and Empirical Work. † The Journal of Finance, 25 (1970): 383-417. 9 Dec. 2007 . Fama, Eugene F. , Lawrence Fisher, Michael C. Jensen, and Richard Roll. â€Å"The Adjustment of Stock Prices to New Information. † International Economic Review 10 (1969) : 1-21. 9 Dec. 2007 . Ikenberry, David L. , Graeme Rankine, and Earl K. Stice. â€Å"What do stock splits really signal?. † Journal of Financial and Quantitative Analysis 31. n3 (Sept 1996): 357(19). General OneFile. Gale. Longwood University. 9 Dec. 2007 . Johnson, Keith B. â€Å"Stock Splits and Price Change. † The Journal of Finance 21 (1966): 675-686. 9 Dec. 2007 . Lakonishok, Josef, and Baruch Lev. â€Å"Stock Splits and Stock Dividends: Why, Who, and When. † The Journal of Finance 42 (1987): 913-932. Lamoureux, Christopher G. , and Percy Poon. â€Å"The market reaction to stock splits. † Journal of Finance 42. n5 (Dec 1987): 1347(24). General OneFile. Gale. Longwood University. 9 Dec. 2007 . Lawson, Michael J. â€Å"Reverse Stock splits: The Fiduciary's obligations under State LAw. † California Law Review 63 (1975): 1226-249. Malkiel, Burton G. â€Å"Is the stock market efficient?. † Science 243. n4896 (March 10, 1989): 1313(6). General OneFile. Gale. Longwood University. 9 Dec. 2007 . ASBBS Annual Conference: Las Vegas February 2009

Genetics Lab Report

Reshmi Radhakrishnan, TA: Jared Tues Rm 24 Experiment 6 Purpose: To analyze if diploid yeast strain heterozygous for ARG8 ADE2 HIS3/arg8 ade2 his3 on chromosome XV and TRP1/trp1 on chromosome IV irradiated with UV light underwent mitotic recombination to form homozygous recessive ade2/ade2 mutants. The ade2/ade2 mutant are selected then plated on different media to observe if the homozygous recessive mutants were due to mitotic recombination. Controls: If all the red cells grew on the CSM-Trp plates, than it would show that they are wild type for the TRP1 gene.All of the plates showed thick white colonies for the CSM-Trp plates. They should have been red because the ade2 colony streaked on the plate was red. They were still white because the adenine from the plate had not been exhausted. However, the cells are ade2- because they are red on all the other replica plates. The CSM-Ade plates are also a control. In order to ensure that the cells are ade2-, they would not be able to grown on this plate or have sparse red colonies. Because the cells have the dysfunctional form of the ade2 gene, they would not be able to survive with adenine present in the plate.Since YPD plate was the last replica plate, it was used as a control to make sure that the transfer was effective for all the other plates. Since red colonies appear red on all the other media plates, it is concluded that the transfer was effective. Results: Growth on the replica plating Plate| 1| 2| 3| 4| CSM-Arg| Red colonies| Red| Red| Red| CSM-Ade| Sparse Red| No growth| Sparse Red | Sparse Red| CSM-His| Sparse Red| Red| Red| Red| CSM-Trp| White| White| White | White| YPD| Red| Red | Red| Red| Conclusion: We plated the red colonies or sectors on CSM-Arg, CSM-His, and CSM-His to iscern the genotype of each colony or sector. Colony 1 is ade1 his3 because of the sparse red growth seen on the CSM-Ade and CSM-His plate. Colony 2, 3 and 4 are ade2. The colonies on the CSM-Trp plates were white but should have bee n red. They were white because they haven’t exhausted the adenine present in the plate. Many of the ade2 cells were also his3 because the recombination occurred between the ade2 gene and centromere. Since mitotic recombination is rare, the chance of double recombination is improbable so the cells would ARG8.Further Questions: i. Yeast can also exist in haploid form. So the ade2 his3 arg8 genotype is possible if there is only one copy of the chromosome and there is loss of the chromosome that was wild type for all the genes. ii. Red sectors in white colonies arise mitotic recombination, by loss of the entire chromosome containing the ade2+ allele, by a deletion of the portion of the chromosome containing the ade2+ allele, or by spontaneous mutation of the ade2+ allele to an ade2- allele. ii. Red colonies were ade2 before the first division on the plate. Red sectors arise from successive divisions after on the plate. Red colonies can also arise from loss of chromosome with the ADE2 allele, mutation of the ADE2 allele, or deletion of the ADE2 allele. iv. If it is a red sector, it is possible to be due to recombination. However reversion from ade2 to ADE2, cannot be distinguished from the white colonies because they look they same phenotypically.

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Correct assignment 1A - Research Paper Example ethod to discovering how the human brain and spinal cord function is the only ‘right’ way to understand the human nervous system and that this study will lead to 100% understanding of the system. fact, object or phenomenon that is conducted by studying the various intrinsic features or traits of the subject matter and their relation to the world. It is essentially a quest to know the ‘truth’ about the significance of the subject matter. Someone with an idealistic ontology feels that reality is based more in the mind and the spirit instead of the physical and material world. Someone who places more emphasis on the material or physical world as a basis for reality would have a materialistic ontological perspective. Epistemology is the term that refers to the description of the fundamental sources of the development of concepts and human perception and knowledge that helps us to distinguish between the right and wrong and directs our beliefs and actions. In order to consider the sources of knowledge, there follows a debate comparing the rationalism (what seems right) with empiricism (what experience tells). Different people hold different opinions about the same matter because they have had different experiences with it or heard of it differently. This knowledge helps them to shape their approaches, beliefs and actions. We tend to have different opinion about a person until we happen to know him/her better by having a conversation with him/her. This holds true for beliefs also. Methodology is the planned steps that one anticipates making in order to test whether a hypothesis is correct. The methodology can refer to either a qualitative or quantitative analysis of data collected. Methodology is based on the study design adopted for the purpose of conducting the research, and includes data collection, analysis and interpretation. When there is a need to know the student’s perception about their curriculum in a certain school, a certain number of students

Corporate Finance Essay Example | Topics and Well Written Essays - 1000 words

Corporate Finance - Essay Example I agree to this because diversification spreads the risk over the different types of assets. Given the fact that the two assets are uncorrelated to each other, it would be rational to invest in both assets. The higher risk of asset S will be compensated with the less risky return of asset B. 2. I totally disagree to the statement; it is quite opposite of the fact that there is a direct relationship between correlation of the portfolio assets and its risk. The higher the correlation between the portfolio assets, the more chances will be that the downside movement of one asset will accompany the same in the other and thus the investment will turned to be the worst. Thus, a rational investor should invest in uncorrelated or atleast less correlated assets in order to reduce the overall risk of the portfolio (Ross et. al, 2013). 3. I agree to this argument. Since the expected return of portfolio is the weighted average of the expected returns of the individual assets, it must lie in betwe en the range of these two individual expected returns. . However, the standard deviation of the return on portfolio doesn’t need to be in b/w the individual standard deviations of the two assets, especially when the stocks are uncorrelated, because the standard deviation of a portfolio is not just the weighted average of individual standard deviations but is computed using the standard deviation formula to the return on portfolio assets rather than just the returns for one asset... al, 2013). 4. I agree to this statement. When capital market consists of all risky assets, a rational investor should hold large number of assets in portfolio in order to diversify risks to a large extent. Risk diversified over the large number of stocks will tend to reduce the portfolio risk more significantly because a large portfolio tends to behave more like the market portfolio which compensates unsystematic risks (Ross et. al, 2013). 5. I agree to this statement. The variance of the return on a portfolio is function of both the component variances of the individual assets as well as co-variances among the assets’ returns (Ross et. al, 2013). That is, even if the individual variances of the assets are very low though their returns are highly correlated, the portfolio will be highly volatile and risky and there won’t be any advantage of such diversification. 6. I disagree. Although increasing the number of assets reduces the variance of portfolio return because of d iversification, the reduction in risk occurs at a diminishing rate (not at a constant rate) with the increase in number of assets in the portfolio. It is even said that to attain the maximum benefits of diversification, 10-15 assets are enough for a portfolio since this amount of diversified assets can resemble the market portfolio. Adding more assets won’t contribute to any further reduction in the portfolio risk. So, the variance will be more or less same but won’t be zero even when N is very large. Also, it’s not just the added number of assets which reduces the portfolio variance but the correlation between the assets does that too. Theoretically, a mix of negatively and positively correlated assets or a mix of uncorrelated

To what extent, if any, do the interests of strategy practitioners and Essay

To what extent, if any, do the interests of strategy practitioners and academic strategists coincide - Essay Example It gives emphasis on freedom, security, social justice, and protection of the environment and non can be achieved on the basis solely of the market forces. The strategies applied in the economic development are facilitated by a free market and it fosters efficient allocation of factors of production, the strategy practitioner usually adopts the nation principal institutional instrument of collective action (Strategic Studies, 2007). Strategy practitioners incorporate their knowledge into production as the practical means of achievement and the government takes the responsibility in mediating the interests and making policies that are based on the agreement that involves in countries leading particular social groups that are committed to development. The nature of strategies arises from the needs and opportunity in organizing efforts to raise living standards. There is a high correlation between the academic strategists and strategy practitioners particularly in the achievement of major political objectives. The society is viewed as civil society and a nation, and the society agree on national development strategy contributed by the academic strategists wherein it gives a strong and lively nation. ... In developing a strategy, there is planning applied in early stages of the establishment. Despite the limitations of the market, general planning is indicative and plans become specific in dealing with the industries that are viewed in the moment as strategic. The strategy persists in global capitalism rather a national competition strategy. The development of strategy is the result of collective decision making process. It pursues alternatives that are capable of steering it towards development. The nature in strategic development arises on the needs and opportunity in raising its living standards and with the correlation between the development and achievement of major objectives.In the development of strategies, it involves entrepreneurs, bureaucrats, and workers. Strategy with program regarded as means by which the actors have incomplete information and have limited rationality that appraise the alternatives and make choices. Strategies are series of decision being carried out in well defined manner and it enables the terms in the assessment of alternatives. The strategy takes three principles such as its consideration to the strong games only, it gives emphasis on the alternatives available to the opponents, and it allows the opponent to make moves in response. Strategists begin by diagnosing the situation and in searching all the alternatives, however they cannot pursue every alternative but within the framework it appears to be more promising and satisfactory. The academic strategists have no illusion as to optimization and they know that they have limited time in making decisions. Interest of Strategy P 3 In the implementation of defined strategy, it use all means available such as by writing laws, adopting economic policies, and they

Discussion 2 Coursework Example | Topics and Well Written Essays - 250 words

Discussion 2 - Coursework Example A lot of care was ensured to enhance the interviewees to have a great trust to support the shared learning experience. They ensured that they maximized on their learning by examining own reactions to the responses of the interviewees. They were at least two or three different researchers who interpreted each of the interviews (Kram, Wasserman & Yip, 2012). This clinical approach assumed that all the experiences of individuals are shaped by personal and contextual factors already known as the main theme of the research. The collaboration between the researcher and research participant enhanced the discovery and understanding of such multiple influences (Rousseau, 2005). Their hunch that the work identity of the interviewees was shaped by their work setting and their age and previous experiences in their career was confirmed by the responses given. The partnership with the first study enabled them to demonstrate differing career histories and current contexts in the work situations. Thus, the two studies greatly

Global Smartphone Industry Essay Example | Topics and Well Written Essays - 3500 words

Global Smartphone Industry - Essay Example Further Porter’s five forces will enable to analyze the competitive forces of Nokia. In the part about sstrategic alliances and global competitiveness the BCG matrix will represent Nokia’s portfolio. In the part about the organizational structure of Nokia a McKinsey model will establish connections between areas that influence the the company’s performance. The 21st century has brought significant changes into the different spheres of human lives. Thus, energy conservation, openings in genetics as well as new technology are now the integral part of every society. Modern technology is the most noticeable because people use different devices such as mobile phones for their everyday purposes. This technology now accelerates the speed of information processing allowing sharing of the real-time information and communication between people. Moreover, such a small device as smartphone opens more potential for businesses, it is used in education purposes, its social meaning is great today. While the global traditional phone market is struggling with the recession as a result of the global economic downturn, the market of smartphones is growing. So the competition between the biggest manufacturers and providers grows as well. The following paper will examine the smartphone industry competitiveness, evaluating the nature of the industry competit ion that Nokia, a Finnish multinational company, faces in front of new mobile operating systems. Further it will discuss the impact of the global smartphone industry competition on Nokia’s smartphone market share and income. It will carry out a critical assessment regarding Nokia strategic alliance with Microsoft. The nature of the competition between different organizations in numerous spheres around world is changing. Due to the financial capital are still deficient and markets are inconsistent. All these factors call constant changes in all areas of business environment. Other features of the modern

Meeting the Needs of Diverse Learners Research Paper

Meeting the Needs of Diverse Learners - Research Paper Example Throughout the discussion, I will integrate conceptual frameworks and relevant research to justify the strategies I have chosen. Thematic Unit: Ecosystem The thematic unit is designed to involve multiple subject areas and engage a number of teachers in instruction. Taking the form of an interdisciplinary project, the task is accommodates for different types of learning styles. This approach takes off from the tradition of â€Å"multiple intelligences† introduced by Howard Gardner. For every student to succeed, the teacher must provide different window of opportunity acknowledging the fact that different students learn in different ways (Conklin, 2006). The main objective of the unit is to create a model ecosystem which uses different principles in the physical sciences and mathematics. Different subject areas have their own respective objectives and this can be reflected in the activities that I will outline below. Day 1 – Planning. On the first day of the project, the students are divided into different groups, and asked to plan on different dimensions of creating an ecosystem. At the beginning, the class discuss their vision of the ecosystem, and then identify the different groups needed to achieve the vision. Then, they break down into groups based on their interests. They are informed that groupings may change throughout the whole term for them to experience different roles. Groups may include purchasing, â€Å"Flexible grouping is an important strategy for meeting diversity and for developing talent, particularly in elementary schools† (Arrends, 2004, p. 62). This stage also serves as a pre-assessment to identify the intelligences of particular students and the ones that need more support. Days 2-3 – Background Knowledge. On the second day, the teachers take turns in discussing the concepts behind an ecosystem. Students are given different materials including literature and videos to understand the concept behind an ecosystem an d its importance. The last day highlights the threats that ecosystems globally are faced with. During the discussion, students are invited to share the conditions in their respective communities. â€Å"The heart of working with cultural diversity is the teacher’s ability to connect the world his or her students and their cultures to the world of the school and the classroom† (Arrends, 2004, p. 71, emphasis on original). One of the major activities in these two days is for students to debate on an issue: â€Å"Can man create ecosystems or do ecosystems create men? For each stand, what are the implications of diminishing ecosystems?† On day 2, the students are given the half of the day to do research in the library or online to prepare for the debate on the following day. These two days involve teachers in Science, Math, English, Literature and Social Studies. A combination of cooperative learning, individual study and differentiated instructions are given. Ruther ford (2010) reiterates the utility of these tools to facilitate scaffolding. Days 3-4 – Project Making. Throughout the week, the students have been involved in both knowledge and practical skills. They have participated in planning and gathering the necessary materials and knowledge to create the project that is expected of them. Teachers have been continuously intervening and drawing on the students’ competencies. At these final stages, it is important that all students gain a sense of

Quantative methods Essay Example | Topics and Well Written Essays - 1000 words

Quantative methods - Essay Example The distances between each internal on the scale is equal. The location of zero is arbitrary in an interval scale. For example, the difference between 80 degree and 70 degree on a Fahrenheit scale is the same as the difference between 50 degree and 40 degree. But we cannot say that 80 degree is twice as hot as 40 degree because the zero does not represent the lack of temperature but a relative point on the Fahrenheit scale. In ratio scale there are absolute quantities and it possesses an absolute zero. An absolute zero represents an absence of an attribute. We use a ratio scale when measuring weight. If we hear zero kilograms of wheat, then it means there is no wheat. 4. Of the 50 respondents 13(26%) have said that they watch the national network news at 5:30 pm on Channel 5. 9(18%) respondents see it on Channel 3, 21(42%) see it on Channel 8 and 7(14%) were undecided. 9(18%) respondents see the local news on Channel 3, 25(50%) see on Channel 8, 11(22%) see on Channel 5 and 5(10%) ar e undecided. 24(48%) respondents rated the local news station they watched as good. 12(24%) respondents rated it as very good and 6(12%) said that it was excellent. Only 3(6%) rated it as poor. 17(34%) respondents rated the sports coverage as good, 16(32%) rated as very good and 10(20%) as excellent. Only 5(10%) rated it as poor. 35(70%) respondents rated the weather report as good or above. ... 33(66%) respondents say that the network news station is not an influence regarding which local news they watch. The shape of the frequency distribution of the variable X14 is trimodal. It has three modes. It can also be said that it is J-shaped because the highest values are at the extreme left. The frequency distribution of variable X15 is such that it has multiple modes. The shape of variable X17 is bimodal. The frequency distribution of variable X18 and X19 is approximately normal (bell-shaped). Recommendations The average age of the household head in Middletown is 44 years, and most of the household heads are in the range of 24-40 years. So Channel 5 should concentrate on targeting middle age men aged 25-45 so that they gain maximum viewership. Middle aged people usually are interested in sports and local news so Channel 5 should concentrate on showing more sporting events and give up to date local news. Channel 5 should also concentrate on those people who have rated local news , sports coverage and weather updates poorly. Channel 5 should also show sports and local news at prime time as this is the time when the maximum number of people is watching television. On average the people have been living in this state for 26.78 years. So they may be very interested in the local news. It is important that Channel 5 focuses on the local news. People in the area do not watch a lot of TV. They watch an average of 12.08 hours per week which makes it 1.72 hours per day. So Channel 5 needs to find out when the people watch TV the most and then target that spot. 5. Mean, median and mode are the three most important measures of the central tendency. They indicate where the center or the most typical value of the data set lies. The mean is simply

Whistle blowing Essay Example | Topics and Well Written Essays - 1250 words

Whistle blowing - Essay Example Internal whistle blowing is whereby a whistleblower communicates any form of misconduct to their supervisor, who then applies the established procedures in the organization to address the misconduct. External whistle blowing is whereby a whistleblower communicates any form of misconduct to external parties like the media or law enforcement agencies (Lewis, 45). A whistleblower can report misconducts, illegal actions, or neglect of duties at work, including; In most cases, an employee cannot suffer a dismissal because of whistle blowing, since this is would amount to an unfair dismissal. In other words, the law will protect them if there was a fulfillment of certain standards. These standards are known as the qualifying disclosures. Normally, the individuals protected include agency workers, employees, individuals who are training with an employer and have not yet gotten employment, and supervised self-employed workers. An employee is only entitled to protection if they sincerely feel that whatever they are reporting is factual and they feel they are informing the right person. In addition, the whistleblower must also believe that their exposure is in the interest of the public. Employees are, however not protected from dismissal when they break the law while reporting misconduct. For instance, when an employee had earlier on signed the Official Secrets Act, or when the misconduct became discoverable in an event whereby another person was seeking legal advice. Moreover, those workers who are not employed.

Phuket Beach Analysis Essay Example for Free

Phuket Beach Analysis Essay Statement of the Problem Should the management of Phuket Beach Resort accept the offer made by PlanetKaraoke Pub to set up an outlet inside the hotel or should the managementoperate a pub, Beach Karaoke Pub, by itself? II. Case Background Mike Campbell, General Manager of Phuket Beach Hotel is considering an offermade by Planet Karaoke Pub, a fast expanding company, which is looking for avenue in Patong beach area for setting up another outlet. The Board of Directorsof the establishment had previously rejected several old offers because it offerslow return on investment. The space was located on the second floor of the main building and was verymuch under-utilised. Planat Karaoke Pub offered to sign a four-year leaseagreement with the hotel for rending part of the unused space. It proposed topay:a. a monthly rental fee of 170,000 baht for the first two years; andb. thereafter, a 5% increment for the next two years. Planet Karaoke Pub required only 70% of the unused space measuring 3,000 sq. feet. This would allow the hotel to keep the remaining space for the creation of analley two years later. Mike Campbell is contemplating on creating a pub operated by the managementof the hotel itself since such establishments attract a lot of customers andtourists. Mike Campbell sought the assistance of Kornkrit Manming, the hotel’s FinancialController to review the offer from Planet Karaoke Pub and estimating revenuesand costs associated with an alternative project, Beach Karaoke Pub. III. Objectives With the given two alternatives on hand, this case aims to:a. ome up with a concrete recommendation to the board of directorsof Phuket Beach Resort of which of the two alternatives will offer a higherreturn on investmentb. determine if operating a pub in the hotel, whether by a third party orby management, will be a good investment on the part of the hotel. c. compute for the relevant cashflows associated with each projects? The 25% fear factor is applied on the projected annual net room revenuerepresenting 50% of the pub revenue – 50% from hotel guests. . Overhead expenses allocated to the Planet Karaoke Pub project amountingto 55,000 baht and 16% of sales representing salaries for the Beach KaraokePub project are considered irrelevant costs since these costs will not differbetween alternatives. Both are allocated costs. 5. The weighted average cost of capital is 10. 75% computed using 10%interest rate and 12% hotel owners’ cost of equity on its capital structureconsisting of 25% debt and 75% equity respectively. The cost of equity isassumed to be after tax. 6. All payments and inflows assumed to have been made at the end of theyear. The two projects have unequal lives: Planet Karaoke Pub to run for 4 yearswhile Beach Karaoke Pub to run for 6 years. 8. It was envisaged that the proposed pub would not affect the hotel’s futureexpansion plans. 9. The existing system ranked projects according to their average return oninvestment and payback period, regardless to the time value of money. 10. Similar development proposals had been rejected by the board because itrequired a long payback period. Other proposals were also discarded due toits low return on investment.

The length and resistance Essay Example for Free

The length and resistance Essay The aim of this investigation is to find out how changing the length of a piece of wire will affect its resistance. Prediction I think that increasing the length of a wire will increase its resistance. This is because in a conductive metal, the electrons in the outer shell of each atom are free to move around. An electrical current is where all these electrons are caused to move in the same direction through the metal. Resistance is the property of a substance that restricts the flow of electricity through it, and is often associated with heat. As the electrons are passing through the metal, they are constantly colliding with the atoms of the metal, causing their course to be slowed down. The collisions cause changes of direction which dissipate energy as heat, which is why more resistant metals heat up more than metals which let electrons pass through more easily. It is easier for electrons to pass through metals in which the atoms are small and far apart, because the free electrons can pass through with less collision to slow their path. It is most important for the metal to contain a lot of free electrons. Fewer collisions mean that less energy is transferred to heat: this is low resistance. As the length of the wire is increased, there will be more fixed atoms for the free electrons to collide with, thus slowing their course. The length of the wire and the resistance of the wire will be directly proportional. If you double the length of the wire, the resistance will also double. This is because there will be double the amount of atoms in the wire for the electrons to collide with. The fact that it would take twice as long for the electrons to pass through in a metal twice the length is of almost irrelevant consequence because electrons move close to the speed of light, and so there is no point in taking this into consideration. If the resistance of the material is increasing, then it will need an increasingly large force to push it through: This is the voltage. The resistance (R) is how much voltage (V) is needed to drive a given current (I). R = V/I Based on my prediction, I would expect my graph to look like this: Resistance (? ) is also equal to the resistivity of the wire(?cm) multiplied by its length(cm), and then divided by its cross sectional area(cm2). Resistance (? ) = resistance of the metal(? cm) x length(cm)   cross sectional area (cm2) The cross sectional area of the wire is constant, and so is the material I am using. It is only the length that will be changing, so as you can see from the formula, the length and resistance must be directly proportional. Planning My experiment shall be set up as follows: I shall use the following apparatus:  connecting wires The power supply will be permanently set to 2volts, but it is important to keep the amperage below 1A so that the wire does not overheat. We will do this using the rheostat. The nichrome wire has a resistivity of 103 x 10-6, and a diameter of 0. 2285mm (0. 02285cm). We have chosen nichrome wire because its properties are suitable for this experiment. It is quite easy to keep the amperage low, but the experiment must still be started with the length of wire that is long enough so that the amps are not too high, as otherwise, this would result in an increase in temperature which is not related to increased resistance. We have chosen to calculate the resistance of the wire in intervals of 5 cm, starting at 5cm, and going up to 70cm. All our decisions are based on a variety of pre- tests. Fair testing The key variables in this experiment are:   temperature   diameter   type of wire length of wire In order for this experiment to be fair, it is important that these variables are carefully monitored. Temperature: It is important that any change in temperature is a result only of resistance. To do this, the room temperature must be kept the same, and the current running through the wire must be kept below 1amp. If it were to exceed this limit, it would result in an increase in the vibrations of the atoms in the metal. This would cause the free electrons to collide more often with the fixed atoms and would cause an apparent increase in resistance that is not due to the change in the length of the wire. In order to prevent this from happening, we have used a rheostat: using this, we can keep the current very low. If desired, we could keep it at a constant, but this is not necessary. Diameter: The diameter of the wire will be kept constant throughout the experiment. This is important because it affects the overall area of the wire. The resistance is inversely proportional to the cross-sectional area. The only way in which the area of the wire should be changed is in length. An increase change in diameter would affect the number of fixed atoms that the free electrons could collide with and would produce inaccurate results with regards to resistance. The smaller the diameter the better, as it will mean a smaller all-round area which will make it possible for more results to be taken, as the amperage would not have so great an effect on the wires temperature. Also, the larger the diameter, the easier it would be for the free electrons to flow through, just as water flows more easily through a wider pipe than a thinner one. Type of wire: All metals have different properties, and in order to make the test fair, the type of wire used must be kept the same. I have chosen to use nichrome as it has good properties which have been tested in the pre-test. It is also important to keep the wire straight, as this will make it easier to measure. Length of wire: The length of the wire is the variable that I shall be changing. I have chosen to do so in 5cm stages. It is very important that the wire is measured accurately, as otherwise the readings off the ammeter and voltmeter will not be as accurate as they could have been. To do this, we are using a ruler, but one problem that we are likely to encounter is the fact that is will be difficult to measure around the top of the rod on which the wire is fixed. So as not to get inaccurate readings, I am going to disregard the reading at 35cm, as that is the length that falls upon the end of the rod. Pre-test It is important to conduct a pre-test before doing the actually experiment. In this pre-test, I have tested 3 types of wire: nichrome, copper and Constantan, to which is most suitable for the experiment. I did the pre-tests on a computer program. Diameter I tested the three available metals using the computer program to find out how close to the maximum of 1 amp I could reach by adjusting the diameter of the wires. I want the amperage to be as close to 1 as possible because the amps will go down as I do the experiment, and I want to get a lot of results. The amps must not be above 1amp, because this would mean that the wire would get too hot, and the results would be inaccurate, as I have previously explained.

Unilateral Action by the Obama Administration

Unilateral Action by the Obama Administration Introduction One of the main features of the American system of government is the push and pull between the executive and legislative branches when it comes to the extension of powers of the federal government (Ellis, 2015: 403). Furthermore, the issue of the unilateral action taken by the executive in order to advance certain political issues has also been a source of great controversy throughout American political history. In the first part of the paper, there will be a treatment of differences between the perspective on unilateral action taken by the Obama administration and that espoused by Senator Ted Cruz. The second section of the paper tackles the level of impact of unilateral action as a tool for political change. The differences between the perspective on unilateral action taken by the Obama administration and Senator Ted Cruz Senator Ted Cruz (R-TX) compiled a list in which he outlines a series of important occasions in which President Obama implemented decisions regarding issues affecting public life through the use of executive fiat. Senator Cruz’s list outlined some general areas where President Obama used executive fiat, included provisions regarding the entitlement to stay in the country for certain groups of immigrants and the recognition of same-sex marriage in the state of Utah (Cruz, 2014). At the same time, Senator Cruz’s list also included the implementation of provisions regarding Obamacare, national security, measures that affected the American economy, appointments to positions in the federal government and the adoption of measures concerning free speech and privacy. In addition to this, the list compiled by Senator Cruz specified certain â€Å"abuses of power† allegedly committed by the executive that appears to be tantamount to mere political stances typical of any incumbent president (Cruz, 2014). At the very core of Senator Cruz’s stance, there is a clear indication regarding his disapproval on how these moves expanded the power of the federal government. The Senator backed up its claims by issuing a warning regarding the dangers of departing from the idea laid down by the Founding Father, which concerns the need to ensure that the United States will continue to be a â€Å"Republic of Laws, and not of Men† (Cruz, 2014). A cursory look at the list compiled by the White House shows that the president used executive order, as granted to him by the law, in order to put forward provisions that would advance his agenda on progressive issues (Presidents News Conference, 2014). For example, during 2014, which the White House branded as the â€Å"year of action†, there was a particular interest placed on equal employment opportunity, fair pay for workers and environmental issues (The American Presidency Project, 2014). The evidence presented in both lists suggests that although the executive took unilateral action on a number of issues deemed to be of paramount importance to the Obama administration, those were mostly dealt through the issuing of executive orders (White House statement, 2014). It appears that the main difference between the list of executive orders issued by the Obama administration and the list provided by Senator Cruz resides in the fact that the latter concentrates on minute actions that may not even be directly attributed to the President but to the different departments of the executive. There is, in this context, a highly tendentious element attached to the Senator’s list. The executive highlighted the need to collaborate with the U.S. Congress in the passing of legislation. However, the contents of the executive order issued by the president also have, in spite of the president’s pragmatic position, a clearly partisan slant, as seen in the interest placed on environmental and healthcare issues (Rudalevige in Rockman, Rudalevige and Campbell (eds.), 2011: 190). A close examination of both lists demonstrates that the one compiled by Senator Cruz is mostly centred on the unilateral actions taken by the White House without using executive orders. There is therefore a considerable difference between the two lists. This indicates the political element attached to the extension of the federal government and the way in which the U.S. Congress, in this case through the auspices of Senator Cruz, acts as a balancer in the quest of the executive to be the main determinant of the course of events in American politics. The impact of unilateral action on the continuation of the status quo From the examination of both lists, it transpires that the power of the executive in order to exert political change seems to be curtailed by the need to attain a good working relationship with the U.S. Congress; a fundamental feature of the U.S. system of government, based on the principle of checks and balances. At the same time, the discretionary use of executive powers remains a controversial area in U.S. politics (Ellis, 2015: 405). The ability of the executive to advance the causes that it deems necessary to the betterment of society is restrained by the electoral process, which places a great degree of scrutiny on the actions of the president. The Obama administration was able to pass Obamacare and speed up some of the measures pertaining to its implementation at a time when the Democrats had a majority in Congress (Rudalevige in Rockman, Rudalevige and Campbell (eds.), 2011: 183). For all the reasons cited above, it could be argued that unilateral actions can only in very spe cific circumstances become an instrument for the change of the status quo. Conclusion By way of conclusion, it could be posited that the controversy arising from the use of unilateral action on the part of the Obama administration (as seen in the report compiled by Senator Cruz) is indicative of the highly partisan nature of the issue. The findings of these investigations show that the use of discretionary powers by the executive is severely curtailed by the system of checks and balances and the influence exerted by public opinion on the actions of the executive. Bibliography Cruz, T., The Legal limit Report Number 4 The Obama Administrationss Abuse of Power, 2014 http://www.cruz.senate.gov/files/documents/The%20Legal%20Limit/The%20Legal%20Limit%20Report%204.pdf Accessed on 11/30/2014 Ellis, R. (2015) The Development of the American Presidency, Routledge, London Presidents News Conference, 1/8/2014 www.presidency.ucsb.edu/ws/?pid=105506 Accessed on 11/22/2014 Rudalevige, A. (2011) Rivals or a Team? Staffing and Issue Management in the Obama Administration in Rockman, B., Rudalevige, A. and Campbell, C. (eds.) The Obama Presidency: Appraisals and Prospects, CQ Press, Washington, DC The American Presidency Project, 2014, List of Executive Orders issues by President Obama www.presidency.ucsb.edu/executive_orders.php?year=2014Submit=DISPLAY Accessed on 11/28/2014 White House statement, 2014, What does a year of action mean, exactly? www.whitehouse.gov/year-of-action -Accessed on 11/26/2014

Never To Late Essay -- essays research papers

Many older students are making their way back to school The number of older, more â€Å"nontraditional† college students are growing. These students say that maturity and life experience give them a clear advantage in the college classroom, and many advisors agree. No matter how old or young one is; it is never too late to start working toward an educational goal in becoming a college graduate! Remember the dream within us sits waiting to spread forth and become a reality. It is only the lack of belief in ourselves that stops us from achieving those things with the heart, and it is only through our own understanding, ability and perseverance that we see them become realities. Until then, they are little more than visions in a crystal ball, with no chance of development. Some would-be students believe it is too difficult to pursue a college degree, believing they are not smart enough or personally powerful enough to see a degree through. And, no doubt, it is no walk in the park, but is and will be the most personally fulfilling and rewarding experience and personal achievement that life will bring, second only to a beautiful, long lasting marriage or having children to share ones life with. The first step in achieving ones college goal, is believing in yourself and making a commitment to yourself and education that no matter what the next few years bring in personal circumstance or situation that ones priority is achieving their college dream, and nothing will stand in ones way in achieving them. It is only the student with this most positive and certain attitude that will succeed. Otherwise, difficult circumstances and situations are sure to arise, and without this attitude, students are sure to follow a voice within them that says, â€Å"It’s too difficult, why not just quit!† And that will be the end of that. But with a positive and certain goal the voice within will remind the student of the dream, the band playing pomp and circumstance and the diploma in hand. And the struggle will seem well worth it. According to the National Center for Education Statistics (NCES), by 2010, 16 million people will be enrolled in American colleges and universities – over half of them adults. Not Your Average College Freshman Why return to school? Some people want to finish a degree begun earlier in life but interrupted by career decisions or family responsibilities. Others d... ...illing to speak up if problems arise. 5. Are willing and able to commit 4 to 15 hours per week per course. 6. Can meet the minimum requirements for the program, whether traditional or online. 7. Can accept critical thinking and decision-making as part of the learning process. 8. Have access to a computer and modem. 9. Are able to think ideas through before responding. 10. Believe that high quality learning can take place without going to traditional classrooms. Myths and Realities about Going to College as an Adult Myth: College is for young people. Adults don’t fit in. Reality: Today, College is for everyone. Almost 6 million people are 25 years of age or older which is forty percent of all American college students. Further, the U.S. Department of Education estimates that 90 million individuals participate in some form of adult education each year, including training and basic education offered outside traditional higher education. Myth: Going to school part-time, you’ll never complete a degree. Reality: One of the ways that institutions have accommodated adult learners is by devising alternate schedules that allow students to complete more classes in the same amount of time.

Sophocless Electra vs. Euripidess Electra :: comparison compare contrast essays

Euripides and Sophocles wrote their own versions of the Electra story. The basic plot is as follows: Agamemnon is killed by Clytemnestra and her lover Aegisthus after he returns from the Trojan war to reclaim his sister-in-law Helen from the Trojans.   Electra and her brother Orestes plot to kill their mother and her lover to revenge his death.   Both authors wrote about the same plot, but the built the story very differently.   Sophocles focused on Orestes, and Euripides focused more on the life of Electra.   In Sophocles's version, the play opens with Orestes learning his fate from the Pythian Oracle; he must revenge his father's death unarmed and alone.   He sends his pedagogue Pylades, as a spy, to learn about the situation in Mycenae.   Electra mourns for her father's death.   She is unable to avenge her father's murders without the help of Orestes, her brother.   She is also mad about how her mother and her lover waste her father's riches and desecrate his name.   Her half-sister Chrysothemis is no help to Electra and refuses to help in the murder of her mother and mother's lover. Pylades arrives bearing the sad news of Orestes death. He tells Clytemnestra that Orestes was killed in a chariot race at the Delphian games; his body was cremated and his ashes were sent to Mycenae.   Concealing his identity, Orestes arrives and with the help of Electra and Pylades, plots the murder of his mother and his mother's lover.   Orestes enter the palace, kills his mother and returns to Electra.   When Aegisthus arrives, Orestes kills him as well fulfilling his destiny.   Euripides's version is much more dramatic.   The play begins with Electra's marriage to a peasant.   Aegisthus had tried to kill Electra but Clytemnestra convinced him to allow her to live.   He decided to marry her to a peasant so her children will be humbly born and pose no threat to his throne.   Orestes and Pylades arrive.   Orestes says that he has come to Apollo's shrine to pledge himself to avenge his father's murder.   Orestes, concealing his identity, talks with Electra about the recent happenings in Mycenae.   She admits that she is sad that her brother had been taken away at such a young age and the only person that would recognize him would be her father's old servant.   She also discusses her scorn of Aegisthus desecrating the monument over Agamemnon's grave and his ridicule of Orestes.

Family Values: Importance Essay -- personal values, research papers

Family Values: Importance   Ã‚  Ã‚  Ã‚  Ã‚  America's family values are very important to our citizens. For many years the American family and its values have been one of the top priorities of our nation. The family is even an essential part of the â€Å"American Dream† that we Americans are so fond of. The basic idea of success in America is measured by how well one can provide for their family. But what does citezenship have to do with family values? It determines these values and set a standard for the whole of America's people. Family values are of the utmost importance to the American citizen.   Ã‚  Ã‚  Ã‚  Ã‚  Family values are basically the core of our way of living. They have been important since, and even before, the very beginning of our civilization, and certainly since the founding of the United States of America. Theories suggest that even the primitive caveman was very loyal and respectful to his particular family unit. People of our time have followed these beginnings of the ideas of family values and citizenship up until the present day. Today however people are more diversified and separated in their ways but they all share similar values of the family. A nation, being of mostly socially compatible people, functions in a similar way as a family. The nation selects its â€Å"national family values† by legislation which becomes law. Civilization, over time, has brought about values which have become essential to all.   Ã‚  Ã‚  Ã‚  &nb...

Traffic Congestion Alert System Using Gsm

Lens Antenna an antenna whose directivity pattern is a result of the difference between the phase velocity of propagation of an electromagnetic wave in air and that in the lens material. Lens antennas are used in radar and metering equipment that operates in the centimeter wavelength range. A lens antenna consists of a lens proper and of a feed. The shape of the lens depends on the refractive index n (the ratio of the phase velocity of propagation of a radio wave in a vacuum to that in the lens). A decelerating lens antenna, as in optics, is one for which n > 1.An accelerating lens antenna (without an optical analogy) is one for which n < 1. The feed is usually a horn antenna that generates a spherical wave front or an antenna array that produces a cylindrical wave front. Decelerating lens antennas are made of high-quality low-loss homogeneous dielectrics (polystyrene, fluoroplastics) or synthetic dielectrics (systems of variously shaped metallic particles suspended in air or in a ho mogeneous dielectric with a relative dielectric constant approaching unity).The refractive index can change within wide limits with extremely low losses. Accelerating lens antennas are made of shaped metal sheets. There is no analogy in optics. The principle of operation derives from the fact that the phase velocity of an electromagnetic wave propagating between parallel metal sheets depends on the distance between them if the electric field vector is parallel to the sheets. In such a case the phase velocity is greater than the speed of light, and the refractive index is less than unity.Zoning the surfaces of a lens antenna reduces its weight and dimensions. The shape and height in profile of the individual zones are chosen such that the electromagnetic waves refracted by adjacent zones leave the lens with a phase shift of 360Â °. The field at the aperture remains cophasal. With aplanatic and Luneberg lens antennas it is possible to control the directivity pattern virtually without distortion. Traffic Congestion Alert System Using Gsm Lens Antenna an antenna whose directivity pattern is a result of the difference between the phase velocity of propagation of an electromagnetic wave in air and that in the lens material. Lens antennas are used in radar and metering equipment that operates in the centimeter wavelength range. A lens antenna consists of a lens proper and of a feed. The shape of the lens depends on the refractive index n (the ratio of the phase velocity of propagation of a radio wave in a vacuum to that in the lens). A decelerating lens antenna, as in optics, is one for which n > 1.An accelerating lens antenna (without an optical analogy) is one for which n < 1. The feed is usually a horn antenna that generates a spherical wave front or an antenna array that produces a cylindrical wave front. Decelerating lens antennas are made of high-quality low-loss homogeneous dielectrics (polystyrene, fluoroplastics) or synthetic dielectrics (systems of variously shaped metallic particles suspended in air or in a ho mogeneous dielectric with a relative dielectric constant approaching unity).The refractive index can change within wide limits with extremely low losses. Accelerating lens antennas are made of shaped metal sheets. There is no analogy in optics. The principle of operation derives from the fact that the phase velocity of an electromagnetic wave propagating between parallel metal sheets depends on the distance between them if the electric field vector is parallel to the sheets. In such a case the phase velocity is greater than the speed of light, and the refractive index is less than unity.Zoning the surfaces of a lens antenna reduces its weight and dimensions. The shape and height in profile of the individual zones are chosen such that the electromagnetic waves refracted by adjacent zones leave the lens with a phase shift of 360Â °. The field at the aperture remains cophasal. With aplanatic and Luneberg lens antennas it is possible to control the directivity pattern virtually without distortion.

The Antitrust Laws

The American government has set-aside(p) in the festering of creating and enforcing rule as the course of action for every ace to follow when dealing with labor issues and the custody. In my research I found several pieces of legislation much(prenominal) as the Sherman Antitrust crop, and the Federal take Commission turn of events, the Clayton Act (Federal sh be Commission, n.d.), and per textbook the Wagner Act of 1935, and the Taft-Hartley Act (DeCenzo, 2016).Congress passed these legislation as the determining element in how much control that management and/or unions would ready in protecting the rights of the break awayers and the boldnesss.The US government has been tang conduct in the development of acting as a intermediary among the muckles and unions with labor clashes. In the 1800s, there wasnt galore(postnominal) truths that would govern how unions would operate within the organization.So in the early stages of unions organizations thought that the unions were illicit and that they would interfere with the progress of the organization.The Sherman Antitrust Act was the initial legislation implemented that cause labor unions. This act was critical to the corporation because it prevented any restraint of commerce crosswise state lines and the courts ruled that union strikes or boycotts would be covered by the law.There are two spare act of the Sherman Act, they are the Federal Trade Commission Act the prohibit turn procedures concerning competition and misleading forms of practice, the Clayton Act focuses on certain issues such as mergers and association boards members . A chief(prenominal) strike among the Pullman Palace Car Company and the American Railway Union, where workers walked off of the job, because wages was caterpillar track by as much as forty percent.At that age the organization was able to obtain an ruling that prevented some(prenominal) the walk-out and boycott. And because of this labor unions discovered that it would be harder to groom successfully (Shmoop, 2018).The National labour party intercourse Act of 1935, which is also known as the Wagner Act was endorsed to protect both(prenominal) employers, and employees, it is the main key for union rights.The Wagner Act distinctively insist that employers should mint in dainty confidence on issues such as wages, hours, and employment environments. This gave unions control over stroke labor habits. Therefore, the Wagner Act empowered unions to be able to grow and advance, plus to frame unions permitting them to protect and bargain together, which means the workforce has the right to come as one to make their demands known even without a union (DeCenzo, 2016) (Shmoop, 2018).Because the Wagner Act sheltered the unions it led to the Taft-Hartley Act which is known as the Labor-Management Act (DeCenzo, 2016). This act covered the concerns of the employer in preventing mold practices of the unions. It prohibited closed stops by declaring them illegal and empowering the states to pass laws that would decrease mandatory union representation.It also, disallowed secondary boycotts by give the president authority whenever differences may bewitch national security. Both parties must bargain in good faith by coming to the table intending to reach an agreement. nevertheless if they dont reach one the Taft-Hartley developed the FMCS to patron in the talks (DeCenzo, 2016).All of these laws are very important to the corporations and unions since theyre the source of the relationship that is among the workforce and the employer. While the NLRA has changed over time it is very important because it includes how both should work together throughout the bargaining process. And how the Taft-Hartley manages the aloofness of the relationship. But they safeguard that everyone should work jointly throughout the conditions of the association.As a resolving power unionized workers through combined efforts of both the union and or ganizations cooperative bargaining bemuse produced better wages, benefits , safe environment, and health conditions for the workforce. They have also included better opportunities for the non-unionized workers (Walters, 2003).ReferencesDeCenzo, D. A. (2016).Fundamentals of sympathetic Resource Management, 12th Edition. Hoboken, NJ lav Wiley and Sons Inc.Federal Trade Commission. (n.d.).Retrieved from The Antitrust Laws https//www.ftc.gov/tips-advice/competition-guidance/guide-antitrust-laws/antitrust-lawsShmoop. (2018).Retrieved from History of Labor Unions https//www.shmoop.com/history-labor-unions/law.htmlWalters, M. a. (2003, 8 26). Economic Policy Institute.Retrieved from How unions foster all workers https//www.epi.org/publication/briefingpapers_bp143/..

Bcom275 Legalization of Marijuana

Marijuana is actually a safer alternative.Alternately, the American Medical Association (AMA) does not support smoked marijuana as medicine (1995-2013).With such conflicting different opinions around this highly controversial drug, there are many questions to be answered in order to decide the steps the federal government can/should be made for a final resolution. Argument For Nearly one in ten Americans used marijuana in 2010; however, our nation spends over seven billion per same year to enforce the illegalization of this natural substance. A recent poll taken in 2011 shows marijuana has increasingly become the preferred particular drug for Americans.Medical marijuana is normally controlled via country regulations that may limit the selection of plants that late may be increased or the wide variety.Dr. Jeffrey Miron, an economics professor at Harvard University, completed a comparative study which determined the approximate cost of enforcing the illegalization of marijuana. The report estimates legalizing marijuana would save, â€Å"$7. 7 billion per year in government expenditure on enforcement of prohibition.

Many argue that marijuana is not any more dangerous than cigarettes logical and spirits and ought to be legalized.). The United States has been engaged in a losing battle against marijuana since the effective implementation of the Uniform Narcotic Act in the 1930s (Bonnie & Whitbread, n. d). We are not only wasting $7.So why Marijuana old has to be penalized.2 billion if it were taxed like alcohol or tobacco† (Cost of Illegalization of Marijuana, n. d. ). Marijuana is not addictive and has a stark contrast of addictive properties when pitted against the addictive characteristics of legalized tobacco logical and alcohol.

In the shape of pills, marijuana is prescribed to alleviate the nausea and vomiting that often accompany chemotherapy., para. 2). The IOM also observed cannabis withdrawal symptoms are rare and do not require acid substitution medicine to stop usage. When marijuana smokers cease consumption, the overwhelming majority do not experience uncomfortable withdrawal symptoms demanding re-initiating use of marijuana according to the IOM.Explain the method where the criminal chief justice system would affect.There are negative aspects of marijuana use, but as is there with coffee, soda, candy, alcohol, and tobacco. Americans need to revaluate old rhetoric from where marijuana was deemed evil and a gateway drug. The only reason marijuana could be considered a gateway new drug is because often time’s consumers are exposed to shady drug dealers on a substance deemed as illegal. If Americans opened their eyes logical and minds to see how much money and effort is wasted to fight a los ing first battle become aware of how much could be profited from the legalization of marijuana the decision is straightforward; marijuana should be legalized.

Legalizing marijuana free will add to the perception that marijuana isnt harmful and doesnt serve as a gateway new drug in many instances.According to the American Psychological Association, APA, addiction â€Å"is a condition in which the body divine must have a drug to avoid physical and psychological withdrawal symptoms† (2013). Unequivocally, marijuana affects learning and memory, both of which are function in the brain. With these affects to the growing mind it is flawed to think marijuana is non habit forming, which undoubtedly leads to withdrawal symptoms upon termination of use. smoke Marijuana is sex-inhibiting.Marijuana was banned for a long time in contrast.Furthermore, there is scientific evidence to support that long-term medical marijuana smoking alters the reproductive system. The gateway theory postulates the use of less harmful drugs (such as marijuana) early may lead to future risk of using more dangerous hard drugs. To test try this theory a group of r esearchers in Sweden administered rats the equivalent of the THC (the chemical found in marijuana delivering the â€Å"high†) in one joint to lab rats.After this administration of THC the rats were allowed direct access to heroin by pressing a lever.

When stopped and frisked, marijuana is for.Marinol, a synthetic version of the naturally occurring major component of marijuana, is a well accepted, well researched, and more effective treatment than marijuana (Kraus, 2007).This approved drug, like marijuana, late helps alleviate chronic pain, reduces chemotherapy-related nausea, and with HIV/AIDS treatment it helps with symptoms known as â€Å"wasting syndrome†. Many proponents of legalizing marijuana for these specific illnesses have not looked into marinol as a small safe alternative. As a matter of fact the only difference between marinol and marijuana is that marinol what does not stimulate the â€Å"high† associated with marijuana.Medicinal Marijuana is the ideal choice for treating PTSD.Marijuana is prohibited and it puts private individuals in circumstances where they are exposed to harder drugs, therefore if the FDA had regulations on marijuana, those many individuals would never have to be exposed to tho se situations. In regards to the effects of marijuana, such like a low sex drive, just like every medication whether it is over the counter or prescribed, there good will be side effects which will affect everyone differently. Marijuana has the ability to alleviate certain aliments such as nausea, and other types of pain.Some argue pharmaceutical drugs can combat the same aliments; however, they also come with side effects and may require additional medication to combat the onset of new symptoms.

The government would find a good deal of cash.7 billion dollars enforcing the prohibition of the substance is persuasive enough in based its self, as well as the potential revenue brought in by taxing the substance like good tobacco or alcohol. Keeping marijuana illegal is only keeping drug dealers in business. While common law enforcement continues to chase these petty drug dealers it is costing our taxpayers millions of several dollars to put and keep drug dealers behind bars.The legalizing of marijuana would benefit the economy greatly, therefor medical marijuana should be legalized.It shouldnt be able to tell folks what to do, as angeles long as they dont hurt others in their actions.This was believed to invite the spirits of the departed, purify the room, and encourage people to dance.Japan’s cultivation of Cannabis came to a halt at the lower end of World War II when allied forces occupied and began to help rebuild Japan. It how was America General Douglas MacArthu r and his colleagues who re-wrote the Japanese constitution in 1948 and mirrored many of the United States laws. MacArthur and his team created the Cannabis Control Act, which tightly controlled and illegalized the use of cannabis.

Decriminalization laws change from state to state.This ideal wishful thinking of marijuana has lead Japan to be one of the strictest laws and punishments compared to other developed countries. In 1993 a Disc Jockey from New York, Christopher Lavinger, was arrested and was sentenced to 16 months in prison and 35 days in solitary confinement after Japanese local police found 1. 5 grams of marijuana, 3. 5 grams of cocaine, and some LSD (Hays, 2009).Typically sure everyone has some kind of difficulty and smoking marijuana may offer help.The people would also great need education on their history of using cannabis within their ancient traditions and target one many high-profile figures to support the use of marijuana. Because of the strict laws and taboo views Japan what has of cannabis, it would be a hard road, but the understanding and education used properly, Japan could create new legislation that would override, or amend their constitution and current laws banning its use. Refe rences American Medical Association (AMA). (1995-2013).

It is harmful to your health.). American Psychological Association (APA). (2013). Retrieved from http://www.Legalization, on the side, means that theres no penalty whatsoever of the drug is completely legal.d. ). Retrieved March 24, 2013, letter from http://dbp. idebate.

Marijuana legalizations subject is growing more and more vital as 2016 brings nearer.d). The Forbidden Fruit logical and the Tree of Knowledge: An Inquiry into the Legal History of Historian of American Marijuana Prohibition. Schaffer local Library of Drug Policy. Retrieved from http://www.There are tons of reasons why It ought to be lawful.† Marijuana. Ed. Noah Berlatsky. Detroit: Greenhaven Press, 2012.

Its better to have a good look at the signs.Opposing Viewpoints In Context. Web. 8 Mar. 2013.Lung cancer may be avoided by making use of a vaporizer.se/xmlui/handle/10616/38245? locale-attribute=en Food and Drug Administration (FDA). (2006). Retrieved from http://www. fda.

There arent any health benefits related to marijuana usage.Retrieved from http://factsanddetails. com/japan. php? itemid=664 Kraus, Mark L. â€Å"Legalizing Medical Marijuana Is Not a public Good Idea.Current Controversies. Rpt. from â€Å"The Dangers of Legalizing Medical Marijuana: A Physicians Perspective. † 2007.Marijuana use rising in U. S. , national survey shows. (2011).

Political and Economic System

macrocosm geography and finishing Spain abbreviation of the brassal and scotch organizations hedge of table of contents I. mental home (abstract) II. semi organizational transcription a. showcase of policy- make organization b. expression of the organisation c. attain a modern practice of impartiality of nature/ indemnity law d. repair on golf-club III. scotch agreement a. subject of frugal clay b. get wind a true scotch push through c. regime consumption in hail the step up d. bear upon on fraternity IV. e lineament lease a. frugalalal grapple countrified of solution V. goal abstract entity In this es suppose, I had to require the single-valued function of a politician and an economist.The expanse of Spain has almost(prenominal) contrary policy- fashioning scienceal materializations that discount tinge the policy-making society form on the construction of the g all everyplacening body. The frugal depicted objec ts imbedation r separatelyion the parliamentary law establish on how the governmental sympathies decides to bargain with it. I as well as had to match and distinguish the on-going stinting and policy-making pop in my re humanity of billet which is Puerto anti-racketeering law to Spains frugal and policy-making turn. excogitation Spain alike cognise as the farming of Spain is a good-looking bea with a solid kindly geography, history, culture, preservation, missi cardinalr effort, and dis kindrediate capitol.Spains policy-making carcass is parliamentary monarchy. Spain has galore(postnominal) an an some other(prenominal)(prenominal) opposite governmental and sparing step ups that tail impact the society. intimately of these issues smoke be struggle by the authorities. some fourth dimensions other countries backside be liken and rack its political and frugal issues to other countries. policy-making governance Spains government is pa rliamentary monarchy. The or so on the whole-important(a) assign of the administration was to make it arrange to the regions, which were habituated their support got governments, regional assemblies and tyrannical efficacious authorities.The teleph champion exchange government retains easy lay office for hostile affairs, impertinent trade, defense, justice, law (criminal, mercenary and labour), merchant transportation system and polite aviation. Spain has been a genus Phallus of the joined Nations (UN) since 1955, the northeastward Atlantic con arrive atity presidential term (NATO) since 1982 and the atomic number 63an join (EU) since 1986, and is as well as a invariable reviewer particle of the system of rules of American States (OAS). Spain has troika secernatees of government which implys the executive branch, the legislative branch and the discriminatory branch.The Senate has 259 fractions, at once elect by a first-past-the-post system. eac h(prenominal) province provides four-spot members positivistic sp ar members in the Balearic and gym shoe islands, where duplication members make for the confused islands, making a lend of 208 members. The 17 self-reliant regions excessively elect whiz senator each and an extra member for either meg inhabitants, totaling a provided 51 members. The Senate has the world-beater to meliorate or veto formula initiated by congress.Under Spanish law, the semi positive consequence of a oecumenical pick is make usual five dollar bill old period after(prenominal) the select, in gear up to accord fitting magazine for recounts and dispute results. later on the members experience been curse in, the queen of Spain meets with the party leading and asks iodine of them to form a government, which essential past be canonical by parliament. The attraction of the party of government be play alongs the president of Spain and has his official foyer in the Moncl oa errle in capital of Spain. The bureau of citizens in Spain is that they keep up to be inseparable of a Spanish set come forth or father.A individual born(p) in Spain of extraneous p arents if incomplete of them has Spanish nationality or if incomplete of the parents legislations confer a nationality to their children. Spain has many political issues. whizz political issue is during the close fewer years has been decadency among habitual officials, including mislabeled financial support of political parties, r all the sameue enhancement avoidance, fraud, bribery, stressful to forbid a place or mortal in the residential institution, nepotism, peculation of customary funds, bootleg patronage, influence-peddling and kickbacks.Spain has been set forth (in the Spanish press) as the approximately stooped society among the pilot light 15 members of the EU and degeneration permeates political and public feeling at either level. This puzzle is touch on the Marbella council on a commodious scale, involving tens of one meg millions of euros pocketed by council officials. sparing System Spains parsimony is a well-based r turn oute to evenly diffuse property to all of the spate. some of Spains natural resources take on coal, lignite, cast-iron ore, uranium, mercury, pyrites, fluorspar, gypsum, zinc, lead, tungsten, copper, porcelain clay hydroelectric power.Spains nones is the European heart euro. Spains imports accommodate machinery and equipment, fuels, chemicals, semi-finished goods, foodstuffs, consumer goods, cadence and checkup turn back instruments. In 2011, the make out of bills that Spain legitimate for imports was $364. 9 zillion. some of Spains exports include machinery, push vehicles foodstuffs, pharmaceuticals, medicines, other consumer goods. In 2011, the get along of funds that Spain get for exports was $309. 6 billion. The piggish home(prenominal) per capita is 30 triplet atomic fig 1 9 half a dozen atomic number 6 euros a year.In advertize military 2. 4 per centum goes to agriculture, 24 part to industry, and 71. 1 percent to services. Spain came out in the number one come out because it is a felicitous country, because its citizens savour shorter running(a) hours and much years holiday, because null and life style cost are lower, because the government invests into breeding and healthcare, because the second-rate age at which people locomote is melloweder(prenominal) than in nigh of Europe and because overall, maintenance in Spain ensures you feel a let out quality of life. Spain has many scotch issues. wholeness economic issue is that the Spanish patoiss high word picture to the collapsed municipal construction and real earth trade alike poses a go along hazard for the orbit. The government oversaw a restructuring of the nest egg bank empyrean in 2010, and provided some $15 billion in uppercase to various institutions. Inves tors breathe implicated that Madrid may want to adhesion out to a greater extent disruptive banks. The patois of Spain, however, is want to ascension cartel in the financial sector by pressuring banks to come bonnie to the highest degree their losses and unite into stronger groups.Puerto anti-racketeering law doesnt wear political and economic issues alike to Spain. wiz campaign Puerto anti-racketeering law political issue is non alike(p) to Spain because Puerto Ricans do non harbour archetype in the U. S. Senate and no pick out original in Congress. Instead, the 4 million U. S. Citizens of Puerto anti-racketeering law entirely nonplus one occupier Commissioner who cannot even ballot on the field of operations floor. at that placefore, Puerto Ricans take on no say in the making of the laws and statutes that take to to them. horizontal though the U. S. independent court has authoritative legal power over Puerto anti-racketeering law, Puerto Ricans d o not have type in the U.S. Senate to cast an up or overpower vote on unequivocal motor hotel nominees. In the end, Puerto anti-racketeering law is governed by a Congress in which they are not allowed to go into in, an decision maker whom they did not elect, and a tribunal whose justices they did not confirm. The 4 million U. S. Citizens of Puerto anti-racketeering law are not allowed to richly accede in the democratic mold of their nation. peerless undercoat Puerto anti-racketeering law economic issue is not similar to Spain because lately in Puerto Rico the rescue has suffered compute cuts from U.S. The Puerto Rican economy has depended heavily on the assess incentives accustomed to U. S. mainland companies and on federal transfers. terminus There were many different social occasions that I knowledgeable virtually Spains policy-making and economic Systems. One topic that I found evoke was that Spain has the one-ninth largest economy in the world. anothe r(prenominal) thing that I found elicit was that Spain was in the first place a perfect monarchy but over time became a parliamentary monarchy.