Model Law on International Commercial Arbitration †Free Samples

Question: Talk about the Model Law on International Commercial Arbitration. Answer: Presentation Worldwide Trade has frequently been a main impetus to social, political, monetary steadiness. Bill of exchanging is a composed authoritative proof of conveyance of items and carriage traveled via ocean in return of specific shipment. By and large, a shipper move the items to a transporter while the specialist or bearer of the shipper issues bill of replenishing. Bill of Lading is supposed to be a basic report that records that specific items have been stacked on board a boat. In any case, with the headway in innovation, the rise of electronic bill of replenishing marks the setting of electronic correspondence in the universal exchange inside the sea business. The paper targets talking about four fundamental capacities performed by the paper Bill of exchanging and assess the capacity of the electronic bill of filling to perform comparable capacities, with regards to their significance to global exchange (Law, 2016). In Basinco Motors Ltd v WoermannLine Anor [2009], a bill of replenishing has been characterized as a composed archive that is marked for the benefit of the proprietor of the boat in which the products are stacked as an affirmation of the wares and taking the wares to convey them until the finish of the excursion. Such obligation is exposed to the conditions, which will be specified in the Bill of Lading. Hence, this archive will be connoted as a composed agreement between individuals who are explicitly gatherings to such report. There are three kinds of Bill of Lading, which are as per the following: Straight and Negotiable Bill of Lading-this kind of Bill of replenishing becomes debatable instrument when the equivalent is given to the transporter and is passed legitimately like money. Proviso Bill of replenishing and Clean Bill of Lading-A statement charge alludes to terrible state of items being conveyed. A spotless Bill of replenishing states that the products are in a decent condition and are all together. Transported and Received for Shipment Bills-a dispatched bill of replenishing is one that determines that wares have been really dispatched ready and the got for shipment Bill indicates that the transporter has gotten items into his guardianship before its shipment. The proprietor of a boat or his agent gives the Bill of Lading. As per Article 15 of the Hamburg Rules, after the items are stacked in the vessel, the boat proprietor will give a record, which must incorporate the amount, nature of the wares, obvious condition of the products, name of the shipper, port of release, mark of the bearer or individual for its sake. It should likewise incorporate the spot of issuance of the Bill, expanded constraints of obligation and the date or time of conveyance of the products at the port of release. The Bill of Lading plays four significant capacities with regards to worldwide law. It plays four basic capacities that are counted as underneath: Bill of filling as a receipt for the dispatched wares In Ogwuru v Co-operation bank of E/N Ltd (1994), the court held that the Bill of Lading fills in as a receipt for items. The Bill of replenishing goes about as a significant archive that gives proof of the way that products have been passed on and have been dispatched on the date expressed in the bill. As a receipt of the products, Bill of Lading fulfills three separate fundamental characteristics, for example, driving imprints in the items; decides if the products are in noticeable acceptable condition and request; the volume and amount of the products; The announcement gave by the proprietor of the boat is proof of the quality and amount of the products. On the off chance that the items are seen as conflicting with the announcement made by the boat proprietor, at that point the gathering is required to set up that the products were not in a terrible condition. On the off chance that the equivalent is built up, the bearer will be at risk for distortion. If there should arise an occurrence of such questions identifying with the condition or amount of items, bill of replenishing will turn into a by all appearances verification that the products were dispatched under conditions specified in the Bill of filling. The Bill of replenishing, which expresses that the products are in acceptable condition it is known as perfect bill of filling and a bill that expresses the items are torn up pretty bad and isn't all together, the Bill is a claused bill of filling under the Carriage of Commodities via Sea Act 1971. Bill of Lading as a Document of credit The narrative credit incorporates letter of credit exchanges where the bank of the buyer gives a letter of credit that influences the installment of the wares bought. The necessities of Bill of filling to be utilized as an archive of credit have been specified under Article 20 UCP 600. The UCP doesn't expressly recognize a non-debatable Bill of replenishing and a debatable Bill of filling. Banks for the most part require total arrangement of bills of replenishing in the event that more than one bill has been given and it will dismiss any delicate that is not exactly the total arrangement of Bills. Further, a bank for the most part acknowledges a perfect bill of replenishing alongside different conditions specified under Article 20 of the UCP to offer impact to the narrative type of credit for the buyer. A record of title is kwon as a deed that allows the holder of the report to deal with the wares like the proprietor of the products. The bill of replenishing can be said to acquire the genuine conveyance of the wares at the assigned ports (Ahmadi, Elsan Noshadi, 2017). A legitimate holder of a bill of filling is said to have valuable responsibility for items. Truth be told, during progress of the wares, the proprietor of the items can exchange the wares to someone else by simply passing on the bill of replenishing as thought. Along these lines, a genuine holder can without much of a stretch exchange the items by conveying the records to a third individual. In any case, a Straight Bill of Lading can't be expressed as a report of title. The Bill of Lading goes about as the main restricting agreement entered between the transporter and the beneficiary of the wares, which suggests that the terms not consolidated in the Bill, will be avoided (Aikens, Lord Bools, 2015). This is on the grounds that the purchaser has just the notification of the terms specified in the Bills of replenishing and terms utilized outside the Bills will add up to break of agreement law standards as was held in Leduc Co v Ward [1888]. Assessment of electronic Bill of Lading to perform elements of Paper Bill of filling The inquiry whether electronic Bill of filling is equipped for playing out the reason for the Paper Bill of replenishing has been exposed to a few discussions. Dominant part of the purviews depend on bill of ladings that are recorded as a hard copy rather than its electronic structure. Further, legitimate vulnerabilities may emerge as for the evidentiary worth, legitimacy, stockpiling of information messages and consolidation of terms and conditions in the agreement of carriage. In any case, in spite of such contentions against utilizing of electronic Bill of replenishing, brokers are utilizing the electronic way to complete the global exchanges on the ground that paper Bills ate unreliable, costly advertisement entangle to utilize, which frequently cause superfluous postponement. With respect to the capacity of electronic Bills to play out the elements of paper charges, it very well may be expressed that going about as a proof of carriage and receipt of dispatched wares doesn't represent any issue. The report of title capacity can be accomplished by giving a system through which made sure about exchange laws ought to give adequate principles that empower dealers and banks to acknowledge the archive title. Accordingly, the formation of security enthusiasm for an electronic record of title will make it fit to work like paper Bill of ladings (Gaskell, 2016). Concerning the transferability of electronic Bill of filling, it very well may be performed to expel the legitimate obstructions as for the support and physical conveyance of the paper Bill of replenishing under Article 16(f) of Model Law. As per Article 17, the information utilized in electronic bill is comparable to the paper prerequisite of the customary Bill of filling. Further, Article 8(1) and 8(4) guarantees that the information messages fulfills the inventiveness, respectability, dependability prerequisite of the information gave the data stay unaltered and complete. Moreover, according to Article [3(3)] of Hague-Visby and Article [14(1)], which requires the transporter to give a bill of filling on request of the shipper and Article [3(3) (a) (b)] and Article [3(6)] of the Hague-Visby requires the bill and certain notification to be recorded as a hard copy. The electronic bill of replenishing may play out this capacity too because of the arrangement in Article [1(8)] of Hamburg Rules, which incorporates message, wire, and electronic mark on the bill of filling, in this manner, offering acknowledgment to the electronic Bill of replenishing. End The electronic type of Bill of replenishing can accomplish the elements of the conventional Bill of Lading if the strategy activities and authoritative proportions of states mechanize port offices and change the household laws to join the electronic type of bill of filling. Electronic bill of filling will prevail with regards to playing out the capacity of debatability that is performed by the customary type of bill of replenishing and will turn into the business custom as far as time, acknowledgment and measure of information utilization. Along these lines, the electronic bill can be supposed to have the option to perform comparative elements of paper bill of exchanging however with unmistakable procedural qualities. References 1985 - UNCITRAL Model Law on International Commercial Arbitration Ahmadi, M. R. An., Elsan, M., Noshadi, I. (2017). Near Study of Bill of Lading Function as Title Document.J. Pol. L.,10, 188. Aikens, R., Lord, R., Bools, M. (2015).Bills of filling. CRC Press. Basinco Motors Ltd v WoermannLine Anor [2009] 13 NWLR (Pt. 1157) 149 at 186 Carriage of Commodities via Sea Ac

Naked Economics Essential Questions Essay Example For Students

Stripped Economics: Essential Questions Essay Peruse: Naked Economics: Undressing the Dismal Science, Charles Wheeland, W. W. Norton, 2003. Totally spread to cover. Headings: Create a period the executives plan for your perusing calendar to guarantee you have sufficient opportunity to peruse the book. Set due dates for every section and each piece of the task. Audit your timetable with a parent or gatekeeper. Desires: Work must be composed, 12 point text style, twofold divided. Mark each area suitably with each number. If it's not too much trouble check your work for complete sentences and syntactic mistakes. The response for each area ought to be about a half to full page. Due Date: The primary day of the semester. No focuses will be granted for late work. Be set up to take an interest in a class conversation on the primary day of school. Questions: 1. Part one: In a passage, sum up the primary concerns of section one. Note that just posting the bolded proclamations will get you zero focuses. There are key thoughts and suspicions in this part. 2. Part two: Explain why motivations matter. What you think about the author’s thoughts on dark rhino preservation? Clarify what unreasonable motivators are and give models from a secondary school student’s life. . Part three: Summarize this section in 1-2 passages. For what reason may government guidelines and attorneys be something worth being thankful for? Incorporate explicit models. 4. Part four: Summarize this section in one passage. Incorporate explicit instances of government inclusion varying. In another passage, make certain to talk about the government’s â€Å"grabbing hand† as it licenses and directs organizations in underdeveloped nations versus Capitalist countries. 5. Section five: a. What does data asymmetry have to do with the recruiting procedure, concerning sexual orientation? What does the creator feel about this segregation? Do you concur with him? Clarify. What do you feel about his drawn out answer for this issue? b. Clarify the issue of private medical coverage? For what reason do the costs keep on rising? What is the issue with general medical coverage? Talk about antagonistic determination, as it identifies with this part. 6. Part six: The creator talks about the side effect of being poor, and the sickness of being poor. What does the creator mean? Do you concur with him? Clarify. How does the neediness line right currently contrast with 100 years prior? For what reason is America like a genuine form of â€Å"Revenge of the Nerds? † What’s so significant about Human Capital? 7. Section seven: What does the productive market hypothesis have to do with Financial markets? Talk about the positives and negatives of the hypothesis. For what reason do Wall-Street dislike it? Clarify the coin flipping test, as it identifies with speculation broadening. 8. Section eight: Why have mohair ranchers earned an appropriation from the government for quite a long time? What would you be able to infer that financial matters educates us regarding legislative issues? 9. Part nine: Explain how the normal American is multiple times as rich as they would have been in 1950. Clarify the best â€Å"knock† on GDP. What does the creator think about the viability of monetary approach? Clarify how a present record overflow/shortfall can be acceptable and terrible. 10. Section ten: What is the extraordinary result of poor money related strategy the creator talks about toward the beginning of the part? Do you concur with this contention? Clarify. What is the connection between governments who owe cash, government polices to battle swelling, and fiscal strategy? Does this change your assessment of how financial arrangement is utilized by the US Government? 11. Section eleven: What is the connection among specialization and profitability? Talk about, in two sections or less, your feelings on globalization in the wake of perusing this part. Refer to information from the book to demonstrate your point. At last, talk about the issue of â€Å"good intentions† on globalization and â€Å"sweatshops. † What do you propose to take care of this issue? 12. Part twelve: After perusing this section, clarify and talk about what we can do to help creating countries. What do these countries need to do to support themselves?

Constitutional Rights before and after Arrest Research Paper

Established Rights when Arrest - Research Paper Example The 6th Amendment done to the Constitution of United States is the piece of the Bill of Rights which set forward benefits related to the arraignments of the hoodlums. A capture causes the withdrawal of an individual’s opportunity by a cop or any person with an authoritatively approved authorization. Generally a capture happens when an individual is affirmed of doing a wrongdoing and along these lines ought to be arrested. â€Å"Because a capture is as a result a â€Å"seizure† it must adjust to the reasonable justification and warrant necessities of the Fourth Amendment†(Otis.H.Stephens). As per the creator captures are oftentimes made in understanding to warrants expand on introductory requests so it is given out by an adjudicator on obvious grounds. A court allows the examination of a crime by giving a court request otherwise called writ. Thusly any examination or capture without a legitimate warrant is uncalled for and unlawful. An individual has the privilege to request with respect to why he is being captured and the sort of charge against him. An individual must see the warrant to be sure that his name exists on it and to affirm the charges. Besides the individual has the privilege to be educated regarding his established rights otherwise called â€Å"Miranda rights† before he is questioned after the capture. These incorporate the option to stay quiet and decline to participate without the discussion of your lawyer as the police can use those answers against the individual seized in the court. In the event that an individual doesn’t meet the cost of a legal advisor, he has the benefit to get an open protector with no cost and talk about his case with the lawyer before further continuing with the examination. An individual can likewise disapprove of each physical or clinical test, for example, breathalyzer, lie finder and so on he additionally has the consent to contact any family member or notable individual to advise th em about his capture as is permitted to make calls. An individual captured with no warrant is required to be conveyed rapidly under the steady gaze of a court official for a tenable becoming aware of the case. A large portion of the occasions suspects shield against capture thusly the police may utilize physical power or brutality to take them in authority. â€Å"The courts have commonly perceived that the fourth amendment grants police to utilize just such power as is â€Å"reasonable† and â€Å"necessary† in effectuating an arrest† (Otis H.Stephens). Subsequently the individual being suspected should give in absent a lot of obstruction and has the option to make legitimate move against the police in the event that they abuse this alteration. The fourth amendment has taboo unreasonable examinations and seizures of people and their assets without a legitimate warrant indicating the spot to be investigated or the individual to be captured. Presently as talked abo ut before the Fifth Amendment allows a person to deny giving a declaration that may convict himself both in legal executive and in answer to cross examination by the police. It likewise contains the statement of â€Å"Double Jeopardy’ in which it isn't permitted to denounce an individual twice for a similar charge. The 6th amendment anyway brings up rights that are important in each criminal preliminary, for example, the privilege to a quick and open hearing by an unbiased board

Zara Fast Fashion Giant Free Essays

Ezra is one of the world’s biggest and quickest developing clothing retailers, attributable to a special mix of strategic policies and an Internal culture that many may state run â€Å"counter-intuitive† to those of contending U. S. Retailers. We will compose a custom article test on Zara Fast Fashion Giant or on the other hand any comparative subject just for you Request Now All the more as of late, be that as it may, Industry examiners have begun to propose that the â€Å"fast fashion† plan of action that has made Ezra so fruitful over the previous decade has run Its course and the extremely idea of dispensable design is being dismissed by the immensely significant millennial market portion. Sing at any rate one of the organization/business related databases accessible to you at the Marcus (or some other) Library, just as the appended articles and contextual investigations, it would be ideal if you give a 5 page evaluation of, and proposition for, Ezra as follows: Context: Briefly layout the extent of the company’s tasks, including # of stores, the nations where it works, # of representatives, yearly volume and its history. HISTORY Ezra Is possessed by Entitled AS (Industrial De Oodles Textile AS) headquartered In Rattler La Corona Spain with organizations under the name of Ezra are situated In the regions locales beneath. Entitled sells on a worldwide scale, with 4,900 shops In around 75 nations under various names, for example, Ezra, Shoo, Misaims Adult, Pull and Bear, Berserk, Strabismus, Ezra Home, and torque. Inedited announced that for 2014 deals they made $22. 76 billion with a one year deals development. Their total compensation was $3. 24 billion which was a one year net gain development. Their absolute resources were $18. 72 billion with a market estimation of $81. 85 billion. Ezra Span AS headquartered in Artesia, La Corona Spain is the leader brand for Inedited AS and is considered the â€Å"cheap-chic auxiliary. Ezra runs around 2,350 stores in significant urban communities around the world, just as, somewhere in the range of 165 Ezra Kids shops in 75 nations and 125 shops across Canada, the US, and Mexico. Ezra Is viewed as a chain and sells women’s, men’s and children’s attire. They likewise offer hefty size and maternity lines. I didn’t find any data in regards to who sells the larger size and maternity pieces of clothing and they are not sold on the web. Ezra started In 1975 and Is Index’s shopping center chain and gets more than 66% of its complete deals. Ninety-nine percent of Ezra stores are organization possessed and different establishments or joint endeavors. COMPANY’S OPERATION Ezra produces 840 million pieces of clothing for every year, no additional Inventory is dispatched to the stores except if there Is an interest for a specific article of clothing. Ezra has eight brands Ezra, Ezra Home, Berserk, Misaims Adult, Shoo, Strabismus, Pull Bear, Torque. They produce in vogue, acceptably made yet Inexpensive items sold In perfectly cross breed glancing stores situated in prime shopping regions, for example, Redo Drive in Los contrasted with HM and the quality is better. You can buy a sweater at Ezra at a low cost of $39. 95 for ladies and at the high for $89. 5. Winter Coats with no covering UN around $190 and winter covers with arranging go around $250. Sara’s top contenders Gap, H and El Cortex Angles. Ezra The Gap El Correct Angles Annual Sales $1. Kiddie apron $16. Face cloth $19. Kiddie apron $12. Kiddie apron Employees 136,000 81,099 Market Cap $17,096. MM $70,212. MM Strategic Positioning: 1 . ) Briefly clarify how the organization actualizes the Six Elements of the Retail Mix as examined in class and tended to in our content; Pricing, Location, Store Layout, Communication Mix, Customer Service and Merchandise Assortment. Ezra has a reasonable concentration and vision in the attire advertise in light of the fact that they have caught the requirements of their clients. They have abbreviated the ordinary gracefully chain reaction time from 5-7 months to 2-gracious months. Ezra makes about of their crude material. The staying 60% is redistributed from inside Spain, for the most part from the La Curran. Planning of garments at Ezra is finished by inventive groups of more than 300 experts at the base camp in La Curran, Spain. After the pieces of clothing are sewn, the garments are come back to Sara’s offices for pressing by a sequential construction system of laborers. Sara’s stock grouping is incredible regarding shading, styles and extras for ladies, men and kids. The dress sizes depend on European body types which are provincially little than American body types. After this, the apparel things are enclosed by plastic and shipped on transport lines to a gathering of goliath stockrooms. In the stockroom, the redid machines designed after the hardware utilized by for the time being bundle administrations, sorts, packs, names, and apportions dress things for shipment to Sara’s retail locations. For Sara’s retail locations inside a 24-hour drive, products are conveyed by truck though merchandise implied for stores past 24-hour drive are conveyed via freight Jets. On a worldwide normal of 17 visits for every client forestalls any bottlenecks in the vertical reconciliation flexibly chain. Ezra is continually speaking with retail directors in regards to what their customer’s needs are. For example, what styles are selling, remarks clients make about structure highlights they like or don’t like. Sara’s stock gracefully is little and they make visit shipments to every one of their stores. The snappy turnaround of product creates income, diminish stock, dispense with obligation and keep their clients upbeat. The contenders depend intensely on end of season deals and â€Å"black Friday’ deals so as to decrease stock and dispense with obligation. 2. ) How does Sara’s execution of this blend ampere to that of an essential Intricate contender. Sara’s contenders depend on their items being planned in one area, dispatched to an organization abroad to make the garments and transported to a dispersion community where the pieces of clothing are assessed and afterward delivered to the different store areas. The vertical reconciliation in the gracefully chain certainly makes difficulties for the planners, who have are rivaling different fashioners having articles of clothing delivered by a similar producer and manufacturing plant closes plans. In the event that items are postponed, the company’s chance not having items in their stores on schedule. Extra difficulties for architects are working one to two years in cutting edge on lines per season. Their stores present new items during the four seasons (fall, occasion, winter, spring/summer). Surplus stock is put away in their appropriation places and transported to the stores when they have to restock, dispatch extraordinary requests and complete online requests. Sara’s contenders direct deals so as to drain their stock and to plan for the following period of product. The test with this procedure is that it for the most part makes overload in the store’s extra space and added weights to the representatives who work in these territories. 3. What do you trust Ezra does especially well or inadequately? Clarify your thinking. *Advertising †Prices should contrast with online logbook. Sara’s vital upper hand is that they change their product week after week, their costs are moderate and of extraordinary quality lastly I think having their marketed organized in the store by shading with the extras was a good thought. H has their marketed masterminded by shading yet a few stores are flooding with items that you get lost. H additionally has a different area for shoes and adornments while Ezra doesn't. The Gap’s store format is and they work superbly with the store design. Women’s product will have more hues and determinations and a sorted out, mess free shopping space is unquestionably, in any event for me, an extraordinary method to shop. H and the Gap deals are amazing to the point that clients are not worried about the store appearance Just the incredible deals. 4. ) Based on what you have perused and looked into, give a synopsis of Sara’s Strengths, Weaknesses, Opportunities and Threats (SOOT Analysis); the Times articles give great understanding on this. Activity Plan: Based on what you have decided about the organization, give 3-5 explicit recommendations to how Ezra may proceed on its development direction. Make certain to restored support for your thinking. I truly delighted in visiting the store and Sara’s site. I figure Ezra could improve in the few territories: 1. By offering similar sizes online as in the store, I think would increment in increasing extra clients who numerous not have the option to visit one of the block n-mortar areas. This would likewise profit those clients who scrambled for a brief glance at the product, had the opportunity to take a stab at a few things however the POS line was excessively long, yet they notice Ezra had a site. The client discovers the thing isn’t offered in her size. Thus, a client is lost and may stay away for the indefinite future. Including an or more line might be gainful. I took a stab at a few excellent covers yet they didn’t fit and I’m not a larger size. The biggest size was an enormous in a large number of the coats. They do have a few other product that are offered in XSL. I checked with the sales rep and it wasn’t offered in XSL. It is shrewd to offer all product in all the sizes that are accessible in some product. 3. I know it’s the European culture to not move toward clients to inquire as to whether they need help. Some goes for some American societies, yet we do get a kick out of the chance to have sales reps accessible who can address inquiries without moving toward the POS representative. I figure this would be a decent move. Reviewing standards stays: 1 . ) Full inclusion everything being equal/themes 2. ) Evidence of basic reasoning and thinking 4. ) The â€Å"wow’ factor that takes the task past what has been mentioned Please observe article interfaces underneath http://thirstiest. In/articles/Imaginations_Ezra_Part_I. PDF http://thirstiest. In/articles/Imaginations_Ezra_Part_II. PDF http://www. Professional. Com/news/2012-11-08/hole gains-with-Ezra-reacting to-into-t

Indian constitutional law - Free Essay Example

Such commissions are appointed to ensure that administration of the state is carried on in accordance to the provisions of the Constitution. However, the abuse of this power for political purposes cannot be ruled out. In his dissenting judgment in State of Karnataka v Union of India[i], the learned Judge held that such enquiry commission by the Union would impinge on the right of the state to function in its limited sphere allowed to it by the Constitution. Learned judge held that as there is no specific Article in the Constitution enabling the Union Government to cause an enquiry into Governmental function of the state, the power cannot be assumed by ordinary legislation, but resort must be had to a Constitutional Amendment. The learned judge held that the word à ¢Ã¢â€š ¬Ã‹Å"enquiriesà ¢Ã¢â€š ¬Ã¢â€ž ¢ in entry 45 of list III should not be given a wide meaning as conferring on the Union and the state governmental powers to enact a provision to embark on an enquiry as to the misuse of governmental powers by the other. à ¢Ã¢â€š ¬Ã‹Å"Government cannot be carried on in accordance with the provisions of the Constitutionà ¢Ã¢â€š ¬Ã¢â€ž ¢ The expression is used in the same sense in Articles 355-356. It has a very wide scope. It means the failure of a state government to work according to the constitution, in circumstances which have no necessary connection with external aggression, internal disturbance or violence, though this maybe the cause of the failure in particular cases. In fact, Article 356 contemplates cases of constitutional breakdown due to causes other than external or internal aggression (in the form of an armed rebellion), for which provision has an earlier been made in Article 352, and the case of financial breakdown which is dealt in Article 360. Thus, the Constitution itself provides that a Proclamation under Article 356 can be issued on the mere ground that the state has failed to carry out any of the directions issued under any of the relevant provisions of the Constitution.[ii] When compared with cl.(1) of Article 352, it is evident that Article 356(1) does not speak of any emergency of any kind; in fact the word à ¢Ã¢â€š ¬Ã‹Å"emergencyà ¢Ã¢â€š ¬Ã¢â€ž ¢ is not used anywhere in Article 356. It is a proclamation intended either to safeguard against the failure of the constitutional machinery in a state to repair the effects of breakdown. It may be either a preventive or a curative acti on. A court can however interfere with such an action by the President as has no connection with the breakdown of the constitutional machinery, e.g., if a suspension of a state government is ordered only because the Chief Minister belongs to a particular caste or creed. This would be an instance of ultra vires, that is the use of the power for a purpose other than that intended by the Article. Of course, while the marginal note to Article 356 uses the words à ¢Ã¢â€š ¬Ã‹Å"failure of constitutional machinery in statesà ¢Ã¢â€š ¬Ã¢â€ž ¢, cl.(1) of the Article uses the words cannot be carried on in accordance with the provisions of the Constitution. The latter are indeed words of the widest import, and if applied literally, they might mean the failure of the state government to comply with each and every provision of the Constitution, and whatever maybe the extent or degree of such failure. Article 356 produces the chapter headings of Government of India Act, 1935. Machinery o f Government does not ordinarily fail if this or that violation of the Constitution is violated, in the course of the states multifarious activities. The Directive Principles of State Policy which are à ¢Ã¢â€š ¬Ã…“provisions of the Constitutionà ¢Ã¢â€š ¬Ã‚  furnish a clearest instance of this. For example it would be absurd to suggest that if a state government did not carry out the Directive of State policy contained in Article 47 relating to the prohibition of intoxicating liquor that it can be said that there was a failure of constitutional machinery in the state. The state has merely exercised its legislative power in permitting the use of intoxicating liquor under liquor licensing laws and the state must bonafide come to the conclusion that the introduction of prohibition might be attended with greater evils which are undoubtedly produced by the consumption of intoxicating liquor. But the expression à ¢Ã¢â€š ¬Ã…“provisions of the Constitutionà ¢Ã¢â€š ¬Ã‚  should be interpreted not in a narrow literal sense to signify only the formal words in the Constitution, but also comprising convention, usages and the democratic spirit underlying the Constitution. If forms of the Constitution are used to subvert its spirit, then the Constitution can be regarded as having broken down in the states. The exercise of the power under Article 356 is an extraordinary one and need to be used sparingly when the situation contemplated by Article 356 warrants to maintain democratic form of Government and to prevent paralyzing of the political process. Single or individual act or acts of violation of the Constitution, good, bad or indifferent administration does not necessarily constitute failure of the Constitutional machinery or characterizes that a situation that has arisen which the Government of the state cannot be carried on in accordance with the Constitution. The powers given to the President by Article 365 are necessarily sufficient deterrent to State Governments not to defy directions given to them in the lawful exercise of the Union Governmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s authority and power.[iii] The learned author further says à ¢Ã¢â€š ¬Ã…“the exercise of that (i.e. power under Article 356) must be limited to a à ¢Ã¢â€š ¬Ã…“failure of constitutional machineryà ¢Ã¢â€š ¬Ã‚ , that is, to preserving the parliamentary form of Government from internal subversion, or from carrying on of Government practically impossible. Again, power under Article 356 may be exercised where the Governments of the states have been conducted for a period of time in disregard to the Constitution and the law. In the Rajasthan case,[iv] however, there are some observations which interpret the wider expression in Article 356(1) as equivalent to the expression à ¢Ã¢â€š ¬Ã‹Å"breakdown of the constitutional machineryà ¢Ã¢â€š ¬Ã¢â€ž ¢. At any rate, most of the Judges use the two expressions as interchangeable. It would be conducive to the national interest if both the legal and political world in India adhere to the narrow interpretation[v] for the following reasons: (i) If the history of the provision is to guide its interpretation, the observation of the architect, Dr. Ambedkar, are emphatic on the point that the scope of the Article would be confined to the sense of à ¢Ã¢â€š ¬Ã‹Å"breakdown of constitutional machineryà ¢Ã¢â€š ¬Ã¢â€ž ¢- and that this was an exceptional provision which should be applied only in the last resort. (ii) Even if one seeks to exclude the marginal note of Article 356 and to confine the interpretation to the words (failure to carry on the Government of the state) in accordance with the provisions of the Constitution, but the failure to maintain the à ¢Ã¢â€š ¬Ã‹Å"form of the Constitutionà ¢Ã¢â€š ¬Ã¢â€ž ¢, which in relation to the Provincial part of the Constitution meant the form of à ¢Ã¢â€š ¬Ã‹Å"responsible governmentà ¢Ã¢â€š ¬Ã¢â€ž ¢ as Krishnaswami Ayyar explained. (iii) The foregoing narrow interpretation would also follow that the premises explained by the framers of the Constitution themselves that Article 356 was a corollary or adjunct to the duty of the Union under Article 355 had been drafted on the model of Article IV(4) of the Constitution of the U.S.A. which enjoined the United States to guarantee to every state in the Union à ¢Ã¢â€š ¬Ã…“ a republican form of governmentà ¢Ã¢â€š ¬Ã‚ . Broadly speaking that expression has been formed to mean à ¢Ã¢â€š ¬Ã…“a form that, as distinguished from aristocracy, monarchy or direct democracy rests on the consent of the people and operates through representative institutionsà ¢Ã¢â€š ¬Ã‚ .[vi] If that be so, neither the provisions in Article IV(4) of the American Constitution nor Article 355of the Indian Constitution (can be used to subvert the normal system of Government in a state on the plea of violation) of particular provisions of the Constitution, short of breakdown of the Constitutional machinery or form of r epresentative and responsible government. (iv) This would follow from the interpretation given by the makers of the Constitution to Article 355(draft Article 277A) to which Article 356 was intended as a supplement. It was explained that the draft Article 277A was an amalgation of Article IV (4) of the American Constitution and s.61 of the Australian Constitution Act, which empowered the executive Government of the Common wealth to à ¢Ã¢â€š ¬Ã‹Å"maintainà ¢Ã¢â€š ¬Ã¢â€ž ¢ the Constitution. It does not appear that there is any case in which the expression à ¢Ã¢â€š ¬Ã‹Å"maintenance of the Constitutionà ¢Ã¢â€š ¬Ã¢â€ž ¢ has been interpreted to enforcement of every provision of the Constitution Act, as distinguished from the constitutional system in toto. The expression à ¢Ã¢â€š ¬Ã‹Å"in accordance with the provisions of the Constitutionà ¢Ã¢â€š ¬Ã¢â€ž ¢, in Article 355 is, therefore to be interpreted in the light of the other two serious situations which precede this expression , namely, à ¢Ã¢â€š ¬Ã‹Å"external aggressionà ¢Ã¢â€š ¬Ã¢â€ž ¢ and à ¢Ã¢â€š ¬Ã‹Å"internal disturbanceà ¢Ã¢â€š ¬Ã¢â€ž ¢. Therefore, it is the duty of the Union Government to protect (the states) against external aggression, internal disturbance and domestic chaos and to see that the Constitution is worked in a proper manner both in the states and the Union. If the Constitution is worked in a proper manner, in the States, that if responsible government as contemplated by the Constitution functions properly, th v) Dr. Ambedkar further explained that the federal system and the autonomy of the States within the sphere allotted to them by the Constitution were the foundations of the Constitution and that Articles 355-356 were introduced as exceptions to that normal system only when there was a likelihood of the failure of a state to maintain that system itself, in which case the Union would enforce its obligation to maintain that system: à ¢Ã¢â€š ¬Ã…“à ¢Ã¢â€š ¬Ã‚ ¦ in view of the fact that we are endowing the provinces with plenary powers and making them sovereign within their own field. It is necessary to provide that if any invasion of the provincial field is done by the Centre it is in virtue of this obligationà ¢Ã¢â€š ¬Ã‚ , Namely the obligation to protect the states from external aggression or internal commotion or to maintain the Constitution in the Provinces i.e. the states. (vi) the very fact that the provision in Article 356 is included in Part XVIII as an à ¢Ã¢â€š ¬Ã‹Å"Emergency Provisionà ¢Ã¢â€š ¬Ã¢â€ž ¢- even though as the Court has said, it has no relation to an emergency of any kind dealt with in Article 352- would lead to the conclusion that the situation contemplated in Article 356 is not one of mere irregularity or difficulty, but one in the nature of an emergency,- a breakdown of the Constitutional machinery, which calls for an abnormal remedy. In the Rajasthan case (para 40)[vii], BEG, C.J., preferred to take the wider interp retation of Article 356(1), to have both a preventive and a curative purpose, viz., (a) à ¢Ã¢â€š ¬Ã‹Å"to safeguard against the constitutional machinery in a stateà ¢Ã¢â€š ¬Ã¢â€ž ¢, as well as to repair the effects of a breakdown. In view of the views expressed by Dr.Ambedkar and other supporters of the provision in the constituent assembly, the proper view would be whether the purpose can be preventive or creative, the power can be used only in extreme cases, viz., when there is an actual or imminent breakdown of the constitutional machinery, as distinguished from a failure to observe particular provisions of the Constitution. The Proclamation dated 21.4.1989 under Article 356 was challenged before the Karnataka High Court and a full bench of the High Court dismissed the Writ Petition. The matter was taken in appeal before the Supreme Court and nine learned judges and considered the scope and power of Article 356.[viii] Similar proclamations were issued in regard to the Governm ent of Rajasthan, Madhya Pradesh, Himachal Pradesh on 15-12-1992. The Government of UP was also dismissed by issuing a Proclamation on 6-12-1992. Meghalaya and Nagaland Governments were also dismissed by Proclamation. All these proclamations were challenged before the Supreme Court and they were disposed by a common judgment in Bommai S.R v Union of India[ix]. In that decision, the Court held that the proclamation under 356 in so far as states of Karnataka, Nagaland and Meghalaya were concerned,was unconstitutional. In S.R.Bommai v Union of India, [x]it was held that a proclamation under Article 356 is justiciable and the Courts could look into the materials or the reasons disclosed for issuing the proclamation to find out whether those materials or reasons were wholly extraneous to the formation of the satisfaction and had no rational nexus at all to the satisfaction reached under Article 356. The Court upheld the proclamation based on the Governorà ¢Ã¢â€š ¬Ã¢â€ž ¢s report o f horse trading among the legislators. The Court rejected the argument that the Governor should have ascertained the support of the Chief Minister on the floor of the House. In so far as the proclamation of emergency in Madhya Pradesh was concerned, it was challenged initially before the High Court reported in Sunderlal Patwa v Union of India.[xi] The full bench of majority of two to one invalidated the Proclamation under Article 356 issued on 15-12-1992. These incidents, the majority did not find adequate to justify an action under Article 356 must be if such magnitude as to satisfy the President that it would be impossible for the Government to carry on the state administration in accordance with the provisions of the Constitution, as stated in Article 355. According to the High Court, no such ground or reason was made out for the invocation of power under Article 356. So far as the state of Nagaland was concerned, the same was also challenged before the High Court. The Divi sion Bench differed on the effective operation of Article 74(2) of the Constitution and hence the matter was referred to a third judge. But before the matter could be heard by the third judge, the Union of India moved the Supreme Court and the proceedings before the High Court was stayed. The Governorà ¢Ã¢â€š ¬Ã¢â€ž ¢s report was in that case was in consequence of split in the ruling Congress Party and on the allegations of horse trading and alleged connection of some members of assembly with insurgency. In regard to Meghalaya, the assembly was dissolved on the ground that the Constitutional functionary has failed to release the binding legal consequences of the orders of the Supreme Court and the Constitutional obligation to give effect to the said order. Article 356 was invoked in the State of Rajasthan, Madhya Pradesh and Himachal Pradesh on the ground that many members of the Assembly had participated in Kar Seva at Ayodhya after the demolition of Babri Masjid at Ayodhya. The proclamation was issued on the ground that à ¢Ã¢â€š ¬Ã…“secularismà ¢Ã¢â€š ¬Ã‚  which is part of basic structure if the Constitution has been violated and the Governments of these states cannot discharge their functions honestly and effectively. The writ petitions challenging the proclamations in state of Rajasthan and Himachal Pradesh were transferred to the Supreme Court on the request of the Union of India. Before considering the judgment in Bommaià ¢Ã¢â€š ¬Ã¢â€ž ¢s case, let us consider what transpired before the constituent assembly and its debates and also the recommendation of Justice Sarkaria Commission. Dr.Ambedkar observed, this drastic power as a penalty for unconstitutional acts done by a state government can be used only after other remedies have failed. In short, the Union cannot supersede a state government simply for the sake of à ¢Ã¢â€š ¬Ã‹Å"good governmentà ¢Ã¢â€š ¬Ã¢â€ž ¢ of the state.[xii] While exercising this power, the Government in power at th e Centre will also remember that its only object as a member of the drafting committee explained was to act as a à ¢Ã¢â€š ¬Ã‹Å"safety valveà ¢Ã¢â€š ¬Ã¢â€ž ¢ to save the Constitution itself and was thus à ¢Ã¢â€š ¬Ã…“to be tolerated as a necessary evilà ¢Ã¢â€š ¬Ã‚ . Its use must therefore to claim that toleration be few and far between. Just as the frequent use of the amending power takes away the sanctity and reverence which is the foundation of every written constitution, similarly a frequent use of the emergency provision in Article 356 lamentably demonstrates that we are neither fit for federalism nor the Parliamentary system of government. Sarkaria,J.,made the following recommendations: à ¢Ã¢â€š ¬Ã…“1. Article 356 should be used sparingly, in extreme cases, as a measure of last resort, when all available alternatives fail to prevent or rectify a breakdown of Constitutional machinery in the state. All attempts should be made to resolve the crisis, its causes and ex igencies of the situation. These alternatives may be dispensed only in cases of extreme emergency where the failure on the part of the Union to take immediate action under Article 356 will lead to disastrous consequences. 2. A warning should be issued to the errant state in specific terms that it is not carrying on the government of the state in accordance with the Constitution. Before taking action under Article 356 any explanation received from the state should be taken into account. However, this may not be possible in a situation when not taking immediate action would lead to disastrous consequences. 3. When an à ¢Ã¢â€š ¬Ã…“external aggressionà ¢Ã¢â€š ¬Ã‚  or à ¢Ã¢â€š ¬Ã…“internal disturbanceà ¢Ã¢â€š ¬Ã‚  paralyses the state administration creating a situation drifting towards a potential breakdown of the constitutional machinery of the state, all alternative causes available to the Union for discharging its paramount responsibility under Article 355 should be ex hausted to contain the situation. [i] State of Karnataka v Union of India, AIR 1978 SC 68 (para 40). [ii] State of Rajasthan v Union of India, AIR 1977 SC 1361 paras 28, 39, 40 (Beg. C.J); 124(Chandrachud, J.); 137(Bhagwati, J.); 209 (Fazl Ali. J). [iii] H.M. Seervai, Constitutional Law of India, 4th Edition, 2007 Reprint, Volume III at pages 3090-91. [iv] State of Rajasthan v Union of India, AIR 1977 SC 1361 paras 28, 39, 40 (Beg. C.J); 124(Chandrachud, J.); 137(Bhagwati, J.); 209 (Fazl Ali. J). [v] Sarkaria Commission has adopted this view [Rep. I, paras 6, 3, 23], p.94. [vi] Corwin Peltason, Understanding the Constitution, (1967). [vii] State of Rajasthan v Union of India, AIR 1977 SC 1361 paras 28, 39, 40 (Beg. C.J); 124(Chandrachud, J.); 137(Bhagwati, J.); 209 (Fazl Ali. J). [viii] S.R.Bommai v Union of India, AIR 1994 SC 1918. [ix] S.R.Bommai v Union of India, AIR 1994 SC 1918 [x] S.R.Bommai v Union of India, AIR 199o Kant 5 (supra). [xi] Sunderlal Patwa v Union of India, 1993 Jab LJ 387 (FB). [xii] T.T.Krishnamachari, IX, C.A.D.,123, 125.

How to Write Literary Impressionism History and Tips for Impressionistic Writing

The French art movement of impressionism is frequently associated with famous painters like Vincent Van Gogh and Auguste Renoir. Yet equally notable authors worked in the medium of impressionistic writing, applying the philosophy of impressionist art to novels and poetry.

Review Of Related Literature And Studies - 1438 Words

Chapter 2 Review of Related Literature and Studies This part of the study contains related literature and studies after the thorough and in-depth research of the researcher. Related Literatures come from both Foreign and Local published literatures that became the basis for the researcher to pursue this study. Related Studies come from both Foreign and Local Studies that has relationship or in relation on her study. Foreign Literature Culture-shaping is a methodological and comprehensive approach in helping an organization transform from top to bottom. According to Delaney (2011), a transformation starts individually. It will become the foundation in building a healthy high-performance organization. After which, the team is the middle group that needs behavioral changed. These two, individuals and team, once aligned with the company’s mission and vision have now understand the thriving purpose of culture-shaping for high-performance organization. The above mentioned methodologies of changing the behaviors individually and then team are what comprise the so-called Human Operating System. It is a common understanding that makes interaction more productive and healthier ways. Human Operating System has four pronged principles that premise the process to make everyone sees the world differently. The first principle is the Energy. Managing personal energy is a subjective yet powerful t erm. Positive energy poses an increase of power for both the provider andShow MoreRelatedReview of Related Literature and Studies1403 Words   |  6 PagesCHAPTER 2 REVIEW OF RELATED LITERATURE AND STUDIES Studies rely on information researched by the proponents. Review of Related Literature In exploration, we find new techniques, new knowledge, even develop new substances, gadgets, equipment, processes or procedures, imagination and skill is employed by the researcher. 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How Long Can Northern Telecom Limited Survive Finance Essay - Free Essay Example

Sample details Pages: 6 Words: 1892 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Cause and effect essay Did you like this example? Nortel Networks is a telecommunication equipment manufacturer. Its corporate life in 1895, Nortel produce the traditional phone in Canada, as few years after Alexander Graham Bell invented the telephone. Originally part of the Bell Telephone, it morphed into Northern Telecom and finally Nortel. Figure 1: The telephone that born in Canada, 1894 Don’t waste time! Our writers will create an original "How Long Can Northern Telecom Limited Survive Finance Essay" essay for you Create order Major changes began at Nortel in 1997 as John Roth was elected to be the new CEO. He figured out that the market of telecommunication is shifting from voice to the internet. One of their great inventions is the frame-relay network equipment that has been used all over the world. In Malaysia, Telekom Malaysia has using the equipment for more than 10 years. It also was being used by the multinational companies, banks and insurance firm. But what happen now, most of the equipments are already at the end of life, and many firm have been migrated to other networking technologies. Nortel equipments are not compatible with the new technologies. Because of that, many carriers are using the other equipment produced by the competitors and Nortels sales are decreasing. Unlike other companies, notably airlines, that have used bankruptcy protection to renew their businesses, Nortel, which began this decade as one of the worlds largest makers of telecommunications equipment, is probably headed for liquidation, several analysts said. I dont think its going to exist, said Mark Sue, an analyst with RBC Capital Markets, a unit of theÂÂ  Royal Bank of Canada. Incident that happens to Nortel would be one of the biggest failures in the telecommunication industry. Nortel had produced much of the fibre optic equipment that now carries most of the Internets data during 1990s. Nortels misery went beyond finances. In the market for interworking devices,ÂÂ  JuniperÂÂ  and others proved to be more innovative and can perform better. Nortel have to file for court protection just a day before the due to make the debt payment for about US$107 millions. By doing so, it give the company more chance to look for the restructuring options or sell off their assets. Nortel said in a release that it had been in the process of a turnaround since late 2005, but the global financial crisis and recession have compounded Nortels financial challenges and directly impacted its ability to complete the transformation. Nortel must be put on a sound financial footing once and for all, the president and chief executive, Mike S. Zafirovski, said in a statement. These actions are imperative so that Nortel can build on its core strengths and become the highly focused and financially sound leader in the communications industry. Tragedies that happen to Nortel make their customers queries about the continuity of support from the company. Nortels competitors try to exploit that uneasiness by offering Nortel customers attractive deals to the alternative equipments. It is also unclear if Nortel will be able to sell any of its operating units to raise cash for a corporate revival. Nortels US$4.5 billion in debt is largely from the result of an acquisition spree by the company during the 1990s. The government of Canada offered Nortel some support. Export Development Canada, a government-owned bank and insurer, has agreed to provide the company with up to US$30 million in loans for the next 30 days. Currently, Nortel is obtaining further extension of stay under the Companies Creditors Arrangement Act. The stay of proceeding was granted by the Canadian Court for further extend to October 29, 2010. The reason of doing that is to provide stability to the company to continue with their divestiture and other restructuring efforts. . INTERNET BUBBLE The internet bubble or sometimes called IT bubble was aÂÂ  provisional bubbleÂÂ  happening between 1995 and 2000, with a climax on March 10, 2000 (refer to Figure 1). During that time, stock marketsÂÂ  in industrialized nations saw their equity value rise rapidly from growth in the more recentÂÂ  Internet sectorÂÂ  and related IT fields. Figure 1: The technology-heavy NASDAQ Composite index peaked at 5,048 in March 2000, reflecting the internet bubble In order to be aggressive in market, Nortel made big investment in high-speed fibre optic system in 1993 and leading the industry. In the late 1990s, Nortel grew for about 100% per annum. The company wanted to dictate the rising market for networking. This had to be done by trying to renovate the old technology to a modern Internet Protocol technology based firm, but those skills were beyond the Nortels expertise. Nortel pay an enormous price for acquiring Bay Networks in 1998 to obtain these skills. It also bought Alteon Websystems for US$7 billion, even though the firm had revenue for only US$200 million; the price must be regarded as expensive. As the internet uprising created substantial growth in fibre optic equipment, Nortel grew rapidly and so did its stock. At its height, Nortel accounted for more than a third of the total valuation of all the companies listed on Toronto Stock Exchange. It has expanded rapidly and entered the new markets. Thought the company paid a huge price for these acquisitions, it failed miserably in integrating them and transforming its business into IP routing. As a large and old firm, Nortel never really embraced the IP shift in the marketplace and then the market bubble burst in 2000 and 2001. The recession was particularly hard on companies like Nortel, which had paid excessive prices for firms which were never really absorbed. Nortel had paid US$2.1 billion for Clarify Inc. in 1999, but this firm was sold in 2001 for only US$200 million. In the bubble years, Nortel had about 95,000 employees, but 60,000 of them being fired due to its financial crisis. Figure 2: Nortel performance LIQUIDATION Nortel was the first giant in the technology industry that facing bankruptcy issue during this global downturn. On January 14, 2009, Nortel filed for protection from creditors, in the United States underÂÂ  Chapter 11 of the United States Bankruptcy Code, in Canada under theÂÂ  Companies Creditors Arrangement Act, and in the United Kingdom under theÂÂ  Insolvency Act 1986. Nortel had an interest payment of $107 million due the next day, approximately 4.6% of its cash reserves of approximately $2.3 billion. The share price for Nortel fell more than 79% on theÂÂ  Toronto Stock Exchange after the announcement. A government agency in Canada, EDC had agreed to provide up to C$30 million in short-term financing through an existing bonding facility, however the Canadian government resisted characterizing its position on Nortel as a bailout. Nortel initially hoped to re-emerge from bankruptcy, so that it paid out retention bonuses to almost 1,000 of their top executives, totalling up to US$45 million, drawing criticism as the company withheld severance payments to employees laid-off prior to the creditor protection filing. TheÂÂ  worsening recession and drop in stock marketsÂÂ  deterring potential companies from bidding for Nortels assets, and many of Nortels major customers reconsidering their relationships with the restructuring company. In June, 2009 Nortel announced that it no longer planned to emerge from bankruptcy protection, and would seek buyers for all of its business units. After announcing it planned to sell off all of its assets, Nortel shares were delisted from theÂÂ  Toronto Stock ExchangeÂÂ  on June 26, 2009 at a price of US$0.185 per share, down from its high in 2000 when it comprised a third of the SP/TSX composite index.ÂÂ   Nortel handed out US$14.2 million in cash compensation to seven executives in 2009. Nortel also paid out US$1.4 million to 10 former and current directors, and paid US$140 million to lawyers, pension, human resources and financial experts helping to oversee the companys bankruptcy proceedings. In February 2010, Ernst Young, the court-appointed monitor of Nortels Canadian bankruptcy proceedings, reported that the assets of Nortels Health and Welfare Trust had a shortfall of US$37 million in its net assets as of December 31, 2008. The trust supports pensioners medical, dental and life insurance benefits, as well as income support for some groups such as long-term disability recipients. CRITISM CONTROVERSY In 2003 Nortel have paid US$10 million in so-called return to profitability bonuses, largely to the selected group of their top management. The return to profitability was a fabrication that achieved by the release of US$490 million in reserves to boost earnings. There was criticism to Nortel since the company suspended the unemployment payment to employees laid-off prior to the creditor protection filing. When Nortel entered protection from creditors proceedings in 2009, it paid out the retention bonuses to almost 1,000 top executives, totalling up to US$45 million. The company also make additional thousands of lay-off without severance, and the pension fund remained underfunded, but it can pay US$14.2 million in cash to seven executives. Nortel also paid $1.4 million to ten former and current directors, and paid $140 million to lawyers, pension, human resources and financial experts helping to oversee the companys bankruptcy proceedings. Figure 3: Nortel pensioner line up for an information session Nortel proposed to spend US$92.3 million on retention bonuses for 1,475 employees in its Nortel Business Services and Corporate groups, in the United States court filing on February 11, 2010. Christopher Ricaurte, the president of Nortel Business Services, will receive US$2.5 million in incentives according to the plan. In all, Canadian employees are eligible for US$27 million, United States employees getting US$55 million, and about US$10 million will go to others. This proposed plan came the same week Nortel negotiated a US$57 million deal to wind up health care and other benefits for former Canadian employees. Claiming that the retention bonuses proposal is extraordinary, acting US trustee, Roberta DeAngelis, objected to the payment of US$555.6 million to 866 employees. However, court appointed representatives for Nortel former employees, who are creditors in the Ontario bankruptcy court, haveÂÂ  signed an agreementÂÂ  to not oppose any employee incentive program. The U.S. Securities and Exchange Commission (SEC) and the Ontario Securities Commission (OSC) have announced the legal proceedings against Frunk Dunn, the former CEO of Nortel and three other former senior executives in March 2007. The SEC accused the four of civil fraud relating to Nortels accounting and its restatements. While, the OSC alleged that Dunn and two others broke securities laws by making material misstatements. CONCLUSION As we entered the new millennium, corporate distress and bankruptcy were no longer a niche area of corporate evolution. Indeed the bankruptcy rate of U.S. corporations reached record proportions in 2001/2002, with as many as 77 large corporation filing for protection under Chapter 11 of the bankruptcy code with liabilities more than US$1 billion. Telecommunication firms lead the way, followed by the airlines, steel companies and so on. Bad financial management is one of the Nortels problem, but the root cause to the bankruptcy is Nortel not succeed to evolve with their customers changing needs. Nortel was actually very good at develop and anticipating industry change from 1970s to 1990s, but it failed to address the single dominant change after that. The commoditization of technology brought on by the Internet Protocol technology and the appearance of Chinese competitor like Huawei worsen the problem. Telecommunication operators are looking for the cheaper equipment, so that they can compete with others. There are many telecommunication suppliers nowadays and each company has the business strategy to survive in the industry. All of them have the distinctive business strategy to ensure their continued existence. But, Nortel is at the other side as it cannot cope with what the market need. Current demands for the telecommunication equipment are the one that hi-tech and reliable. However, the price usually becomes the first priority in the selection.

The French Revolution Explain the Significance of the...

Alfred Cobban stats in his text, In Search for Humanity, that, â€Å"The consequences of the Revolution were so momentous for Europe at the time, and for the whole world subsequently, that it has cast a shadow over the whole of modern history.† The French Revolution brought about significant changes in society and government of France. The revolution, which lasted from 1789 to 1799, also had extending effects on the rest of Europe. It introduced democratic ideals to France but did not make the nation a democracy. However, it did end the supreme rule by French kings and strengthened the middle class. It was motivated by the ideas of liberty, equality and fraternity and led to the growth of political liberalism and nationalism in France. At the†¦show more content†¦By September 1791, the National Assembly believed that the revolution was over. It disbanded to make way for the newly elected Legislative Assembly. The new Assembly, made up of mainly middle class representatives, opened on October 1, 1791. It soon faced several challenges. Louis XVI remained opposed to the revolution. Public opinion became bitterly divided regarding the new government, religious policy and opposition to the revolution. The new government also faced a foreign threat. In April 1972, it went to war against Austria and Prussia. The foreign armies defeated French forces in the early fighting and invaded France. The King and other opposition forces clearly wanted the foreign forces to win, in response, the revolutionaries demanded the King be dethroned. In August 1792, the people of Paris took custody of Louis XVI and his family and imprisoned them, ending the constitutional monarchy that existed. Meanwhile, the French military suffered more defeats and the Parisians also feared an uprising by the large number of people in the city’s prisons. A massacre of 1000 prisoners in September 1792 turned many people in France and Europe against the revolution. The King’s removal had a considerable impact as it led to a new stage in the revolution. It went from being a middle class reform movement based on a constitutional monarchy, to being organised around principles of democracy. The national conventionShow MoreRelatedNationalism and Transnationalism in the Context of the European Union28567 Words   |  115 PagesNationalism and Transnationalism In the context of the European Union (†¦) History says, ‘Don t hope On this side of the grave.’ But then, once in a lifetime The longed-for tidal wave Of justice can rise up, And hope and history rhyme. So hope for a great sea-change On the far side of revenge. Believe that a further shore Is reachable from here. Believe in miracles And cures and healingRead MoreScope of Demography8788 Words   |  36 Pagesthe citystates of Renaissance Italy. Birth rates were treated as either constant or meaningless and little attempt was made to measure them until shortly before the recent fertility transition. Modern demography had to await the development of a scientific outlook and counts of population and vital events that were reasonably complete. These conditions began to be realized during the second half of the seventeenth century in Britain, where the Royal Society was founded in 1660 with two of the fathersRead MoreReceived Pronunciation: Historical Background and Application17580 Words   |  71 Pagesdescriptions have been published of this style, and endless material has been produced on its status, significance, and ongoing changes. Descriptions have almost exclusively been of the segmental order, and it’s debatable whether this does justice to any speech style. Traditionally, RP is a manufactured accent of English which was published as â€Å"the everyday speech of families of Southern English persons whose men folk have been educated at the great public boarding schools† (Daniel Jones 1965). The actualityRead MoreContemporary Issues in Management Accounting211377 Words   |  846 Pagesacademic spheres in accounting, I sense that the two worlds have less and less to do with one another. It is therefore ever more important to reflect on the contributions which Michael Bromwich has made. He played an important role in the diffusion of modern practices of capital investment appraisal in the United Kingdom. He has been constantly open to the insights which advances in economic theory can provide into the accounting art, in many areas pushing at the frontiers of international knowledge in

The Industrial Revolution through the Eyes of Charles Dickens

The Industrial Revolution generated the perception that applying solely logic to everyday activities could maximize productivity and efficiency. Charles Dickens explores the dangers of neglecting emotions and imagination in his novel Hard Times. Dickens separates Hard Times into three books: Sowing, Reaping and Garnering in order to reveal the negative consequences of industrialization and forsaking imagination for facts through the events, settings, and characters in the novel. In Book the First: Sowing, Dickens introduces the destructiveness of the wrong kind of education on innocent minds. The schoolmaster Mr. Gradgrind refuses to face reality by insisting on addressing Sissy Jupe by her formal name and changing Mr. Jupe’s occupation to one less involved with â€Å"fancy† (Dickens 7-8). The classroom, â€Å"a plain, bare, monotonous vault† and Mr. Gradgrind’s rigid, square, and dry appearance reflect the stringent, detached teachings of his philosophy (Dickens 6). The name Gradgrind epitomizes what his beliefs have made of him: a â€Å"fact machine,† a grinder of fact. In Chapter 2 â€Å"Murdering the Innocents†, Dickens compares Gradgrind to a loaded canon â€Å"prepared to blow [the children] clean out of the regions of childhood at one discharge† (Dickens 7). The metaphor reiterates the damage Gradgrind’s philosophy can cause, including slaughtering the imagination of children. Gradgrind’s ideology sickens his wife, a â€Å"little, thin, white, pink−eyed bundle of shawls, of surpassing feebleness,Show MoreRelatedAnalysis Of Charles Dickens s Oliver Twist 905 Words   |  4 Pagesquite certain that the earliest use of the word realism referred to the faith full representation of the real world in the literature beginning from the 1850 s. Charles dickens is one among the greatest well-known representatives of the 19th century English critical realism. In Victorian England realism is greeted by the work of Dickens. 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The population of England roseRead More Vivid Images of Character and Place in the Opening Chapter To Dickens Great Expectations1146 Words   |  5 PagesVivid Images of Character and Place in the Opening Chapter To Dickens Great Expectations The opening chapter to Great Expectations introduces Pip who is the main protagonist in the story. He is an orphan and lives with his sister Mrs Joe Gargery and her husband who is a blacksmith. The story is set in the graveyard in the time of the Industrial Revolution. In the opening chapter we also see Pip being introduced to a convict who is very poor but very rude to the child. TheRead MoreOliver Twist Characterization of the Criminal Mind In Charles Dickens novel, Oliver Twist,1600 Words   |  7 PagesTwist Characterization of the Criminal Mind In Charles Dickens novel, Oliver Twist, Dickens portrays the hardships of people in poverty during the Victorian era through Oliver and various characters throughout the novel. Oliver is born into a workhouse with no name where he is starved, beaten, and treated like a prisoner during the first ten years of his life. Dickens makes all his characters in the novel â€Å"†¦either a jailor or a prisoner, like Dickens himself both, the author and his turn key† (Lepore)Read MoreA Lack of Charity Essay example1718 Words   |  7 PagesIn Charles Dickens’s books, Oliver Twist and A Christmas Carol, the theme of lack of charity is pronounced. Throughout Oliver Twist, society turns a â€Å"cold shoulder† to those in need of help (Miller 30). The Victorian England society prohibits inhabitants of the lower social realms from moving up in society. Rarely do lower class members receive attention, and the attention they do receive is far from par (Reeves). Ebenezer Scro oge, the main character of A Christmas Carol, learns to be charitable

Constructed On Decisions Made Management †Myassignmenthelp.Com

Question: Discuss About The Constructed On Decisions Made Management? Answer: Introducation An organization is constructed on decisions made by its management. Therefore, the process of decision making is an important part of an entity, if in any way the decision is stated to be wrong then the output may not be appropriate and may result in a huge loss to the company in the form of revenue or reputation. Decision means to reach the conclusion of any scenario only after examining various fields of action and choosing the most suitable option. The main target of decision making is to keep up with its goals. Decision making requires constant focus as business environment is never static. As soon as one problem is eliminated, the second one comes up and this process continues (Berman, Knight and Case, n.d.).. The process of corporate decision-making in an entity takes place at different levels, whether above the bottom or below the top. The implementation of corporate decision-making is made to be done by its implementers because decisions are only effective when they are being carried out in the best possible manner (Bruner, Eades and Schill, 2017). Implementing large plans may be meaningless if no obligation will be presented by middle and lower management. Therefore, it is very important for the management to maintain a good and healthy relationship with its middle and lower level of management. Hence, corporate decisions are successful till the point it has the power to bond which helps the leaders to be encouraged and maintain stability, otherwise, the institution gets trapped in its own trick which leads to degradation of the competition in the market (TULSIAN, 2016). Capital Budgeting refers to the calculation of various expenses or investments, which are huge in nature. The invest ment and expenses which need to be calculated contain projects like marketing of new plant or long term investments. By capital budgeting, cash inflows and outflows for a lifetime are being formed so that it can be evaluated to know if the potential return is meeting the assigned target or benchmark. It is also known as 'investment appraisal'. For an enterprise, it facilitates the use of all opportunities and projects, but because of the limited availability of capital at a particular point of time, it forces the management to use capital budgeting to evaluate the maximum return on all available items at a particular time.Capital budgeting contains various methods like internal rate of return (IRR), discounted cash flow (DCF), net present value (NPV) and payback period. They may be defined in the following manner: DCF Analysis: This examination is similar to the NPV analysis because it takes into account the initial cash outflows which are needed to fund a project, cash inflows and other future outflows in the form of servicing and other expenses. Such costs have been discounted to the current date and thus the resulting number is called NPV (Clarke and Clarke, 1990). NPV: It is the distinction between the present value conditions of the cash inflow and the outflow is used by capital budgeting to determine the profitability of the project or long term investment.The positive NVP indicates the expected return after exceeds the cost, and the negative NPV indicates a financial loss of the firm (Fairhurst, 2015). As an example A and B are two different projects with different structures of cash flow and the rate of return required, and then the NVP of the cash will be as follows. Year A B 0 -80000 -80000 1 20000 - 2 24000 - 3 20000 - 4 27000 65000 5 30000 75000 Required rate of Return 12% NPV of Project A Year Cash Flow Present Value of Cash Flows 0 -80000 -80,000 1 20000 17,857 2 24000 19,133 3 20000 14,236 4 27000 17,159 5 30000 17,023 NPV 5,407 NPV of Project B Year Cash Flow Present Value of Cash Flows 0 -80000 -80000 1 - - 2 - - 3 - - 4 65000 41,309 5 75000 42,557 NPV 3,866 It is a form of capital budgeting method which specifies the time period of discontinuing the initial expense by discounting future cash flows and the time value of money.The rule states that the project will be taken with the discounted payback period offered against the target period (Taylor, 2008). IRR: IRR can be defined as the interest rate at which NVP of all the cash flows is zero for a given project or long term investment. This can be used to measure the attractiveness of the investments. The rule says that if the project issatisfactory, then the IRR of a new project will exceed the required rate of return fixed by the company (Galbraith, Downey and Kates, 2002). From the same example that is taken for NPV we are also calculating IRR: For Project A: For Calculation of IRR, Inflow=Outflow Let be IRR 14.50% then PV of Inflows Year Cash Flow Present Value of Cash Flows 1 20000 17,467 2 24000 18,306 3 20000 13,323 4 27000 15,709 5 30000 15,244 80,049 Therefore, at 14.50% Pv of Inflows = PV of Outflows (80,000). Hence IRR is 14.50% For Project B: For Calculation of IRR, Inflow=Outflow Let be IRR 13.15% then PV of Inflows Year Cash Flow Present Value of Cash Flows 1 - - 2 - - 3 - - 4 65000 39,655 5 75000 40,438 80,093 Therefore, at 13.15% Pv of Inflows = PV of Outflows (80,000). Hence IRR is 13.15% Capital budgeting techniques have the following importance: Evaluation of risk: Long-term investment or capital expenditure are costs that are identifiable and significant financial risks. Hence, capital budgeting is necessary for perfect planning. Choosing of the best course of action: It helps a company to select the perfect investment project, which will provide top possible returns based on examining each and every potential course of action. It concentrates on growing the stakeholder's wealth and also helps the company to gain an edge in the market (Shim and Siegel, 2008). Long run of the business: Besides reducing the costs, capital budgeting also helps in determining company's maximum profits. As it helps in determining the over or under investments, proper planning and analysis through capital budgeting help to stabilize business for long run activities Irreversible Investments: It requires huge investments even after the funds being limited. The firm does not have an option of recovering the fund or decision, so, it is advised to carefully make a decision on investment of money by analyzing and summarizing all the possible aspects which may create a problem in near future (Hassani, 2016).Various types of capital budgeting techniques are present. They are as follows: Sensitivity Analysis: It is a type of analysis for determining the results of a decision using a different range of variables. Analysts define variables in dependable variables due to the different values of separate variables that constitute certain constant conditions. This is also called as what if analysis. Any type of decision like family matter or corporate level decisions may require analysis for proper functioning. In simple words, it means determining the sensitivity in output because of change in one input keeping other inputs constant. The steps for conducting sensitivity analysis are as follows: There is a defined base case output; like NPV at some particular point has an input value (V1) for which sensitivity is to be measured keeping all other input values constant. A new value of input helps to find the value of output keeping other input values same. After that, the % change in output and input is calculated. Dividing the %change in output by the % change in input helps to calculate the sensitivity. All the above factors help to conclude by determining that higher the sensitivity figure is, the more sensitive output is to any change in that respective input and vice-versa. Scenario analysis: It is a process of determining the 'expected value' of an investment at a specific time after considering the specific changes in the factors such as fixed rate, interest rate, etc. As a strategy, this type of analysis needs an analyst to count different reinvestment rates for determining expected profit that is invested again and again in a specific period. This analysis, in general, determines the difference between the changes in the values of the portfolio in different situations and it also follows the rule of What If analysis. This assessment is used to determine the potential risk which consists within a given amount of investment as related to a different variety of potential events, which may have both high and low probabilities. By this analysis, an investor can determine the amount of risk he may undertake. There are many methods to determine it including one of the most common approaches called standard deviation of monthly or daily security returns an d then calculating the expected value of the portfolio if each savings generate income that are either two or three standard deviations below or above the average income. In this way, an analyst determines reasonable assurances about the change in the value of the portfolio in a particular time period (Holland and Torregrosa, 2008).It should be noted that the above two analysis are not the same. A better way to understand is to take an example. For example, an Equity Analyst wants to manage both sensitivity and scenario analysis to consider the impact of the Earning Per Share (EPS) impact on company's relative valuation using price to earnings (P / E) multiples. The valuation of Sensitivity analysis depends on the variables disturbing valuations, which may be shown by variables' value and EPS. With the help of this analysis, all the possible outcome ranges are being recorded. On a different note, scenario analysis is implemented by finding the outcomes based on a scenario (Khan and Jain, 2014). The analysts should try and set a specific scenario such as changing market conditions or industry regulations. Then he uses different variables of that same model that matches the scenario. If these things are gathered and combined, then there is a wide range of outcomes for the analyst to study with all the cases and different results that are used in different set of real-life perspectives. Break Even Analysis: The breakeven point of the company means a point where the company is making sufficient income to bear all the expenses taking place during that accounting period. By the definition, if a firms net revenue is zero, then there is no profit and no loss. It is important to mention that the company's debt settlement is not used to find breakeven points because the lending period is skeptical of the number of return periods for the initial investment, and the breakeven points are equivalent to revenue and expenses and total cost with zero net revenue (Saunders and Cornett, 2017). This analysis shows how much sales we need to pay off the cost of doing business. The following two points should be considered:Accounting breakeven analysis: An accounting breakeven total cost will be equal to the total revenue because of which the profit tends to be zero. This can be achieved by calculating the ratio of variable cost to sales. For example, the ratio is 0.65 so that means the contribution of every rupee of each unit sold is 0.35. Therefore the ratio of contribution margin is equal to 0.35. Hence, the breakeven point can be calculated using: BEP = (Fixed Cost + Depreciation) /Contribution Margin Ratio. If the depreciation is not added by us, the similar BEP is known as cash breakeven point. The project reached the solution of breakeven point and recognizes that there is zero return. So, only the invested value may be recovered. Financial breakeven analysis: An NPV breakeven takes place when the cash flow is equivalent to the initial investment which means NPV is zero (Palepu, Healy and Peek, 2016). So, to reach the breakeven point, analysts have made an analysis of reaching another level of sales, where the NPV of the project is zero. Simulation Analysis: The word 'simulation' implies imitation of a thing or some kind of action. Monte Carlo Simulation is a study of imitations of real materials or star of affairs or many different ways that represent the key feature of a random number using the system (Phillips, 2014). It basically adds up the level of dynamic analysis of the capital budget, because it is created in various different situations that are relevant to the analyst's key assumptions concerning risk. It considers the probability and interactions of variable variations of the data. The following steps need to be involved in this type of analysis: The variables need to be found out for both cash inflows and outflow (Reilly and Brown, 2012). The formula is referred to as associated with all variables and then, for each variable, a probability distribution will be needed to be determined.Now, a computer program will be developed so that one can randomly select a value from the probability distribution of each and every variable and defines the NPV of the project using this value.The outcome of this is not the result of single-value results, but a feasibility distribution of all potential returns. Simulation analysis is an effective tool that may be helpful to understand the depth of the capital budgeting so that the investment decisions can be improved. It is still unable to deal with the uncertainties (Saltelli, Chan and Scott, 2008). Also, such an analysis is not a remedy for all problems, such as significant inter-relationship scenarios in variables can lead to wrong consequences and misleading conclusions.Even capital budgeting is so important, still, it has certain limit ations in the corporate world. Some of them are as follows: Since it is a long-term perspective, it cannot be used for short-term effects. Also, if decisions made on the basis of capital budgeting are wrong, then the business may face adverse effects on the long-term basis of survival in the market. It leads to increase in operating costs. The inadequate and inaccurate investment makes the right budget and right capital formation difficult Such decisions usually include large amounts, and if decisions are taken, they need to be carefully crafted as it cannot be changed afterward. References Berman, K., Knight, J. and Case, J. (n.d.).Financial intelligence for HR professionals. Bruner, R., Eades, K. and Schill, M. (2017).Case studies in finance. Dubuque, IA: McGraw-Hill Education. Clarke, R. and Clarke, R. (1990). Strategic financial management. Homewood, Ill.: R.D. Irwin. Fairhurst, D. (2015).Using Excel for Business Analysis A Guide to Financial Modelling Fundamenta. John Wiley Sons. Galbraith, J., Downey, D. and Kates, A. (2002).Designing dynamic organizations. New York: AMACOM. Hassani, B. (2016).Scenario analysis in risk management. Cham: Springer International Publishing. Holland, J. and Torregrosa, D. (2008).Capital budgeting. [Washington, D.C.]: Congress of the U.S., Congressional Budget Office. Khan, M. and Jain, P. (2014).Financial management. New Delhi: McGraw Hill Education. Palepu, K., Healy, P. and Peek, E. (2016). Business analysis and valuation. Andover, Hampshire, United Kingdom: Cengage Learning EMEA. Phillips, J. (2014).Capm / pmp. New York: McGraw Hill. Reilly, F. and Brown, K. (2012).Investment analysis portfolio management. Mason, OH: South-Western Cengage Learning. Saltelli, A., Chan, K. and Scott, E. (2008).Sensitivity analysis. Chichester: John Wiley Sons, Ltd. Saunders, A. and Cornett, M. (2017).Financial institutions management. New York: McGraw-Hill Education. Shim, J. and Siegel, J. (2008).Financial management. Hauppauge, N.Y.: Barron's Educational Series. Taylor, S. (2008).Modelling financial time series. New Jersey: World Scientific. TULSIAN, B. (2016).TULSIAN'S FINANCIAL MANAGEMENT FOR CA-IPC (GROUP-I). [S.l.]: S CHAND CO LTD

What would the world be without women free essay sample

Kookai, a French fashion label founded in 1983 by Jean-Lou Tepper, Jacques Nataf and Philippe de Hesdin. In 2004 their Australian clothing line ran a campaign asking the question â€Å"What would the world be without women? † In one particular advertisement we see a average man dressed in women’s clothing and holding a baby, with the question â€Å"What would the word be without women? † However the Australian clothing may have had the best intentions at heart to empower women and to challenge culture. This ad is asking questions about the role of women and the role of men; Are men co-dependent of women? Could the world survive without them? They may have very well done the opposite by stereotyping women even more. By creating these advertisements it is suggesting that men are not equipped to me motherly. That without women children would grow up in a different world. This might be so, however it is defining women by their role of motherhood. We will write a custom essay sample on What would the world be without women? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This causes the way that women look at this advertisement to change, it turns the question to ‘How would children survive without their mothers? ’ This is stereotyping that a women’s most important role is to make sure how the next generation grows up. This is not the only image that the Kookai campaign used. They also ran advertisements where average men are wearing more revealing clothing, however they are no longer holding the baby in their arms. With this advertisement Kookai is defining women by their looks by suggesting that the most important thing that women contribute to the world is sexiness and that the world would miss looking at women before they would miss anything else about them if the world had no more women. Although Kookai had their best intensions at heart to empower women and show that women play just as an important role as men, they stereotypically defined women in their two most common roles in the media; motherhood and being ‘sexy’. These types of advertisements contribute to culturally biased views on women and reinforce the stereotypes of women.