Romeo and Juliet For a different audience Essay Example

Romeo and Juliet For an alternate crowd Paper William Shakespeares story of bound sweethearts, Romeo and Juliet is a story for all ages. The introduction of the story relies upon how the crowd will respond to it. For example, the crowd from Shakespeares time ran from rich highbrow snots to tanked groundlings. In my comic book variant of his story, I utilized progressively present day words to support my crowd; the individuals of today comprehend the story better. I adjusted Shakespeares unique to fit todays crowd by modernizing the jargon, taking out a couple of the less energizing components and by demonstrating the feelings of the characters through outlines. The first form of Romeo and Juliet is just unique in relation to my own adaptation in one perspective; the introduction. In William Shakespeares time, society was a ton not quite the same as the general public we know today. The crowd Shakespeare needed to compose for was exceptionally requesting. The crowd comprised of two significant gatherings; the high society and the lower class. The privileged was a gathering of cultivated individuals who were engaged insofar as the narrative of the play was charming. The lower class was more diligently to manage however. These residents were frequently self-important alcoholics who might shout and toss things in front of an audience in the event that they were not satisfied by the play. We will compose a custom paper test on Romeo and Juliet For an alternate crowd explicitly for you for just $16.38 $13.9/page Request now We will compose a custom article test on Romeo and Juliet For an alternate crowd explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer We will compose a custom exposition test on Romeo and Juliet For an alternate crowd explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer These groundlings encompassed the phase on three sides in area where there were no seats, which made them not so much agreeable but rather more threatening to the play. To control these crowd individuals, Shakespeare needed to satisfy them. He did this by including battle scenes and a touch of unrefined funniness. For whatever length of time that the groundlings were engaged, Shakespeare could run his play without interference. William Shakespeare composed his play, Romeo and Juliet breathtakingly to engage both upper and lower class residents. In my rendition of Romeo and Juliet, a comic book form, I misrepresented the activity scenes and decreased the less energizing scenes of verse. I did this since comic book perusers don't peruse funnies to appreciate verse. Rather they are engaged by acceptable representations of activity just as great discourse to go with them. Consequently, rather than utilizing elaborate wording like Shakespeare had done to communicate feeling in each characters discourse, I indicated theyre outward appearances in all around drawn delineations. I likewise utilized delineations to show the setting of the play obviously, rather than utilizing long portrayals of each setting like in Shakespeares adaptation. I could depict these significant components through nitty gritty fine art, without words. The representations are a significant component in deciding the nature of a comic book. Consequently, it was significant that I recounted to the story through pictures just as discourse, and not simply through writing. In my form of Romeo and Juliet, I demonstrated the intensity of words, yet workmanship also. To adjust Shakespeares unique perfect work of art Romeo and Juliet to all the more likely suit my crowd, I changed over numerous thoughts from the story into fine art. The work of art of a comic is the thing that decides the nature of the book. I accept that in comic books, the wording utilized in the exchange isn't close to as significant as the fine art it obliges. I utilized craftsmanship to depict further or more outrageous feelings instead of utilizing very detailed words as Shakespeare had done in his rendition. By demonstrating feelings alongside view through representations, I can be certain that perusers have a picture of the story in their brains. Another adjustment I used to all the more likely suit the focused on crowd was the changing of Old English words into progressively justifiable Modern English words. A few sections in Romeo and Juliet are difficult to comprehend by the youthful perusers of today. In this manner, I modernized the wording and stressed each scene through representation, as opposed to confounding writing. I trust I have adjusted the tale of Romeo and Juliet successfully to suit my crowd well overall. My form of Romeo and Juliet follows the first form composed by William Shakespeare notwithstanding the numerous distinctions in language and style of introduction. I adjusted the introduction of Romeo and Juliet to all the more successfully recount to the story to perusers of todays ages. In spite of the fact that the story is 400 years of age, it isn't and never will be an obsolete story. For whatever length of time that adoration exists, the account of Romeo and Juliet will be a story for all ages to appreciate.

VaR Models in Predicting Equity Market Risk

VaR Models in Predicting Equity Market Risk Part 3 Research Design This part speaks to how to apply proposed VaR models in anticipating value showcase hazard. Essentially, the proposal first blueprints the gathered observational information. We next spotlight on confirming suppositions typically occupied with the VaR models and afterward distinguishing whether the information attributes are in accordance with these presumptions through looking at the watched information. Different VaR models are in this way talked about, starting with the non-parametric methodology (the chronicled reenactment model) and followed by the parametric methodologies under various distributional suppositions of profits and deliberately with the mix of the Cornish-Fisher Expansion strategy. At long last, backtesting methods are utilized to esteem the presentation of the recommended VaR models. 3.1. Information The information utilized in the examination are money related time arrangement that mirror the day by day recorded value changes for two single value list resources, including the FTSE 100 file of the UK advertise and the SP 500 of the US showcase. Scientifically, rather than utilizing the number juggling return, the paper utilizes the every day log-returns. The full time frame, which the computations depend on, extends from 05/06/2002 to 22/06/2009 for each single record. All the more definitely, to execute the experimental test, the period will be isolated independently into two sub-periods: the principal arrangement of observational information, which are utilized to make the parameter estimation, ranges from 05/06/2002 to 31/07/2007. The remainder of the information, which is between 01/08/2007 and 22/06/2009, is utilized for anticipating VaR figures and backtesting. Do note here is that the last stage is actually the current worldwide monetary emergency period which started from the August of 2007, drastically topped in the closure a very long time of 2008 and signally decreased essentially in the center of 2009. Thus, the examination will deliberately look at the exactness of the VaR models inside the unpredictable time. 3.1.1. FTSE 100 record The FTSE 100 Index is an offer record of the 100 most profoundly promoted UK organizations recorded on the London Stock Exchange, started on third January 1984. FTSE 100 organizations speak to about 81% of the market capitalisation of the entire London Stock Exchange and become the most broadly utilized UK securities exchange pointer. In the thesis, the full information utilized for the exact examination comprises of 1782 perceptions (1782 working days) of the UK FTSE 100 record covering the period from 05/06/2002 to 22/06/2009. 3.1.2. SP 500 file The SP 500 is a worth weighted file distributed since 1957 of the costs of 500 huge top basic stocks effectively exchanged the United States. The stocks recorded on the SP 500 are those of enormous openly held organizations that exchange on both of the two biggest American securities exchange organizations, the NYSE Euronext and NASDAQ OMX. After the Dow Jones Industrial Average, the SP 500 is the most generally followed record of huge top American stocks. The SP 500 alludes not exclusively to the file, yet additionally to the 500 organizations that have their basic stock remembered for the record and subsequently considered as a bellwether for the US economy. Like the FTSE 100, the information for the SP 500 is additionally seen during a similar period with 1775 perceptions (1775 working days). 3.2. Information Analysis For the VaR models, one of the most significant angles is suspicions identifying with estimating VaR. This segment initially talks about a few VaR suppositions and afterward looks at the gathered experimental information qualities. 3.2.1. Presumptions 3.2.1.1. Ordinariness suspicion Ordinary dispersion As referenced in the part 2, most VaR models expect that arrival appropriation is regularly dispersed with mean of 0 and standard deviation of 1 (see figure 3.1). Regardless, the part 2 likewise shows that the real return in the vast majority of past experimental examinations doesn't totally adhere to the standard dispersion. Figure 3.1: Standard Normal Distribution Skewness The skewness is a proportion of asymmetry of the appropriation of the money related time arrangement around its mean. Regularly information is thought to be evenly dispersed with skewness of 0. A dataset with either a positive or negative slant veers off from the typical appropriation presumptions (see figure 3.2). This can cause parametric methodologies, for example, the Riskmetrics and the symmetric typical GARCH(1,1) model under the suspicion of standard dispersed returns, to be less compelling if resource returns are vigorously slanted. The outcome can be an overestimation or underestimation of the VaR esteem contingent upon the slant of the basic resource returns. Figure 3.2: Plot of a positive or negative slant Kurtosis The kurtosis measures the peakedness or levelness of the appropriation of an information test and portrays how thought the profits are around their mean. A high estimation of kurtosis implies that a greater amount of data’s difference originates from outrageous deviations. As it were, a high kurtosis implies that the advantages returns comprise of more extraordinary qualities than displayed by the ordinary conveyance. This positive abundance kurtosis is, as indicated by Lee and Lee (2000) called leptokurtic and a negative overabundance kurtosis is called platykurtic. The information which is typically conveyed has kurtosis of 3. Figure 3.3: General types of Kurtosis Jarque-Bera Statistic In measurements, Jarque-Bera (JB) is a test measurement for testing whether the arrangement is ordinarily appropriated. As such, the Jarque-Bera test is a decency of-fit proportion of takeoff from typicality, in view of the example kurtosis and skewness. The test measurement JB is characterized as: where n is the quantity of perceptions, S is the example skewness, K is the example kurtosis. For huge example measures, the test measurement has a Chi-square dispersion with two degrees of opportunity. Increased Dickeyâ€Fuller Statistic Increased Dickeyâ€Fuller test (ADF) is a test for a unit root in a period arrangement test. It is an expanded rendition of the Dickeyâ€Fuller test for a bigger and increasingly convoluted arrangement of time arrangement models. The ADF measurement utilized in the test is a negative number. The more negative it is, the more grounded the dismissal of the speculation that there is a unit root at some degree of certainty. ADF basic qualities: (1%) â€3.4334, (5%) â€2.8627, (10%) â€2.5674. 3.2.1.2. Homoscedasticity presumption Homoscedasticity alludes to the supposition that the needy variable shows comparable measures of change over the scope of qualities for an autonomous variable. Figure 3.4: Plot of Homoscedasticity Lamentably, the part 2, in light of the past exact investigations affirmed that the monetary markets ordinarily experience unforeseen occasions, vulnerabilities in costs (and returns) and show non-steady fluctuation (Heteroskedasticity). In fact, the unpredictability of monetary resource returns changes after some time, with periods when instability is particularly high sprinkled with periods when unpredictability is abnormally low, to be specific unpredictability grouping. It is one of the generally stylised realities (stylised factual properties of benefit returns) which are normal to a typical arrangement of money related resources. The unpredictability grouping mirrors that high-instability occasions will in general bunch in time. 3.2.1.3. Stationarity presumption As indicated by Cont (2001), the most fundamental essential of any measurable investigation of market information is the presence of some factual properties of the information under examination which stay consistent after some time, if not it is inane to attempt to remember them. One of the speculations identifying with the invariance of factual properties of the arrival procedure in time is the stationarity. This speculation expect that for any arrangement of time moments ,†¦, and whenever interim the joint conveyance of the profits ,†¦, is equivalent to the joint circulation of profits ,†¦,. The Augmented Dickey-Fuller test, thusly, will likewise be utilized to test whether time-arrangement models are precisely to look at the fixed of measurable properties of the arrival. 3.2.1.4. Sequential autonomy presumption There are countless trial of haphazardness of the example information. Autocorrelation plots are one basic technique test for arbitrariness. Autocorrelation is the relationship between's the profits at the various focuses in time. It is equivalent to computing the connection between's two distinctive time arrangement, then again, actually a similar time arrangement is utilized twice once in its unique structure and once slacked at least one timespans. The outcomes can go fromâ +1 to - 1. An autocorrelation ofâ +1 speaks to consummate positive connection (for example an expansion found in one time arrangement will prompt a proportionate increment in the other time arrangement), while an estimation of - 1 speaks to consummate negative connection (for example an expansion found in one time arrangement brings about a proportionate diminishing in the other time arrangement). As far as econometrics, the autocorrelation plot will be inspected dependent on the Ljung-Box Q measurement test. Be that as it may, rather than testing irregularity at each unmistakable slack, it tests the general haphazardness dependent on various slacks. The Ljung-Box test can be characterized as: where n is the example size,is the example autocorrelation at slack j, and h is the quantity of slacks being tried. The theory of arbitrariness is dismissed if whereis the percent point capacity of the Chi-square dispersion and the ÃŽ ± is the quantile of the Chi-square circulation with h degrees of opportunity. 3.2.2. Information Characteristics Table 3.1 gives the engaging insights for the FTSE 100 and the SP 500 day by day financial exchange costs and returns. Day by day returns are registered as logarithmic value family members: Rt = ln(Pt/pt-1), where Pt is the end day by day cost at time t. Figures 3.5a and 3.5b, 3.6a and 3.6b present the plots of profits and value record after some time. In addition, Figures 3.7a and 3.7b, 3.8a and 3.8b represent the mix between the recurrence dissemination of the FTSE 100 and the SP 500 day by day return information and an ordinary circulation bend forced, sp

Masquerading as a Liberal Arts Student

Masquerading as a Liberal Arts Student Every time I check my email (incredibly, only once every few days) I am reminded that I am not at MIT. I am away from the buzz that defines the campus surrounding 77 Mass Ave, but instead immersed in the organized chaos that is Hanoi, Vietnam, the last stop on my semester long comparative urban studies study abroad program. When the semester began, I came to the realization that I had undertaken more than just an international study abroad program, but that I also dove head first into a liberal arts ‘immersion’ program. As someone used to equations, numbers and problem sets, a semester spent reflecting about how an experience made you feel, and debriefing and debating academic concepts is quite a change. My semester abroad has been more than an international experience but has also given me a glimpse into the life of a liberal arts student, a life very different from those we live at MIT. Without the constant stream of problem sets and equations, I sometimes forget that I am actually on an academic program. While I have been throwing numbers into my classes when I can (I counted traffic today!), for the most part our studies are focused on three main areas and the concepts that surround them: urban planning, political science and anthropology. I have learned new ways to look at the world and observe my surroundings, not just from the new cultures we have visited, but also from my fellow classmates, liberal arts students from around the country. Although I have taken and enjoyed many humanities classes at MIT, this semester has given me a much greater appreciation for what it means to study the humanities. I have often heard from classmates at MIT that they wish the HASS requirements would just disappear, but the lesson I have learned this semester is that they are vital to understanding how the world works. Nothing can be done without consideration for politics, for society, for the environment. Behind every robot is an underlying purpose and need. While the liberal arts environment on IHP involves some kitch, lots of skits and picture drawing for my taste, I have learned an incredible amount that never would have been possible in a traditional academic environment and it has been immensely beneficial for me to understand the ‘other side’ of academia. I am assured that not all Liberal Arts Colleges use quite the same number of skits, they do encompass many of the same concepts. I think we all know someone at an LAC and I am sure that at one point, you realized that your college experience is very different from theirs. This post has been several months in the making, as I navigate limited internet, lots of exploring and lots of host family interaction. My experience abroad has been incredible so far, not just because of the experiences I have had in Brazil, South Africa and now Vietnam, but also because I have encountered a type of person and a way of learning different than I have encountered at MIT. Basically what I want to say is that every MIT student should study abroad because it is an enriching experience and exposes you to a wide range of types of people and cultures (and not just ones from other countries; brochure answer, I know). Lots of people at MIT say they don’t want to study abroad because they only have four years at MIT, but the experiences you can have abroad are also once-in-a-lifetime experiences. It will help put your five-year plan (which I am sure lots of you have) into perspective and help you define what you want to do in an ever increasing global context. The program I am currently abroad with is called International Honors Program: Cities in the 21st Century. It is a comparative urban studies program focused on experiential learning. It is by no means a traditional study abroad program, but the constant travel has helped fulfill my wanderlust. While it is great to do MISTI for a summer (they just added Chile!), but study abroad is its own unique experience. So go talk to the GECD. To try and entice you a different way, I will leave you with some pictures as a last thought… One of the few calm places in Hanoi The view from our classroom window in Hanoi Table Mountain juxtaposed with a street art project in Woodstock, Cape Town, South Africa Sao Paulo, Brazil The Heidelburg Project, Detroit

Masquerading as a Liberal Arts Student

Masquerading as a Liberal Arts Student Every time I check my email (incredibly, only once every few days) I am reminded that I am not at MIT. I am away from the buzz that defines the campus surrounding 77 Mass Ave, but instead immersed in the organized chaos that is Hanoi, Vietnam, the last stop on my semester long comparative urban studies study abroad program. When the semester began, I came to the realization that I had undertaken more than just an international study abroad program, but that I also dove head first into a liberal arts ‘immersion’ program. As someone used to equations, numbers and problem sets, a semester spent reflecting about how an experience made you feel, and debriefing and debating academic concepts is quite a change. My semester abroad has been more than an international experience but has also given me a glimpse into the life of a liberal arts student, a life very different from those we live at MIT. Without the constant stream of problem sets and equations, I sometimes forget that I am actually on an academic program. While I have been throwing numbers into my classes when I can (I counted traffic today!), for the most part our studies are focused on three main areas and the concepts that surround them: urban planning, political science and anthropology. I have learned new ways to look at the world and observe my surroundings, not just from the new cultures we have visited, but also from my fellow classmates, liberal arts students from around the country. Although I have taken and enjoyed many humanities classes at MIT, this semester has given me a much greater appreciation for what it means to study the humanities. I have often heard from classmates at MIT that they wish the HASS requirements would just disappear, but the lesson I have learned this semester is that they are vital to understanding how the world works. Nothing can be done without consideration for politics, for society, for the environment. Behind every robot is an underlying purpose and need. While the liberal arts environment on IHP involves some kitch, lots of skits and picture drawing for my taste, I have learned an incredible amount that never would have been possible in a traditional academic environment and it has been immensely beneficial for me to understand the ‘other side’ of academia. I am assured that not all Liberal Arts Colleges use quite the same number of skits, they do encompass many of the same concepts. I think we all know someone at an LAC and I am sure that at one point, you realized that your college experience is very different from theirs. This post has been several months in the making, as I navigate limited internet, lots of exploring and lots of host family interaction. My experience abroad has been incredible so far, not just because of the experiences I have had in Brazil, South Africa and now Vietnam, but also because I have encountered a type of person and a way of learning different than I have encountered at MIT. Basically what I want to say is that every MIT student should study abroad because it is an enriching experience and exposes you to a wide range of types of people and cultures (and not just ones from other countries; brochure answer, I know). Lots of people at MIT say they don’t want to study abroad because they only have four years at MIT, but the experiences you can have abroad are also once-in-a-lifetime experiences. It will help put your five-year plan (which I am sure lots of you have) into perspective and help you define what you want to do in an ever increasing global context. The program I am currently abroad with is called International Honors Program: Cities in the 21st Century. It is a comparative urban studies program focused on experiential learning. It is by no means a traditional study abroad program, but the constant travel has helped fulfill my wanderlust. While it is great to do MISTI for a summer (they just added Chile!), but study abroad is its own unique experience. So go talk to the GECD. To try and entice you a different way, I will leave you with some pictures as a last thought… One of the few calm places in Hanoi The view from our classroom window in Hanoi Table Mountain juxtaposed with a street art project in Woodstock, Cape Town, South Africa Sao Paulo, Brazil The Heidelburg Project, Detroit

Thomas Jefferson And Abraham Lincoln - 1323 Words

Self-respect is a difficult topic to define. It is often addressed and illustrated throughout fiction and history, yet the majority of people find it difficult to define in a way that isn’t shallow. Some might argue that self-respect is irrelevant and should not play a hand in the choices a person makes. Despite what others may say, it is an undeniable fact that individuals should always work to protect their personal pride. A person should always make decisions in an effort to maintain self-respect because it helps him to make good decisions in the future, preserve his own personal identity, and earn respect from those around him. History is flooded with important leaders and figures. Some of the best leader’s America has ever seen are Thomas Jefferson and Abraham Lincoln. Jefferson played an incredibly important role in the foundation of America. In his two terms he managed to cut the national debt and military in half, and expand the country itself by more than half with the Louisiana purchase. Jefferson was able to do these things because he had such a strong head on his shoulders - he had firm beliefs and refused to back down from them. While it may be argued that Jefferson did go against his word most of the time, his pride allowed him to act against what he preached because he knew his actions would be successful. President Lincoln is best known for the addition of the 13th amendment to the constitution and the emancipation proclamation, ending all slavery inShow MoreRelatedComparison Of Thomas Jefferson And Abraham Lincoln759 Words   |  4 Pagesabout some of our forefathers. Included in those powerful people, are Thomas Jefferson and Abraham Lincoln. Jefferson did his part and then some for creating a nation on the path to greatness. Obviously, one of the big ideas that he had, was the Bill of Rights. Jefferson made sure that the citizens of this soon to be wonderful nation would have the freedoms and abilities to express their ideas and identities. Not only did Jefferson create 10 rights that he would ensure that Americans would have, heRead MoreAnalysis Of George Washington, Abraham Lincoln, Thomas Jefferson, And Mother952 Words   |  4 Pagesdinner with any person, living or dead, who would it be and why?† This question is most commonly asked at an event filled with a large group of strangers, as an icebreaker. Many would typically answer, George Washington, Ben Franklin, Abraham Lincoln, Thomas Jefferson, and maybe if someone wants variety they could say someone like Marie Curie. All of these answers are superficial and simply the first historical person that someone could think of. In fact, I know I would have answered with George WashingtonRead MoreVisionary Leader And Ethical Leader1559 Words   |  7 Pagescreated equal† (Lincoln 1863). Most Americans recognize the Gettysburg address and our minds recall Abraham Lincoln, a master of diction and a stellar leader. Who could have been such a visionary leader to inspire Lincoln to say those words? Why did Lincoln have to say those words while standing at a Pennsylvania battlefield cemetery during one of our nation’s bloodiest wars? In this paper I will answer both of those questions because I won’t be talking about Abraham Lincoln, I will be discussingRead MoreGettysburg Address Versus Declaration of Independence Essay1472 Words   |  6 PagesDeclaration of Independence, the document of secession written by Thomas Jefferson in 1776, called for the complete independence of the states from the British Empire. The Gettysburg Address was a document on the theory of union that stressed the need for one united country and expressed the importance of doing whatever necessary to complete the task of keeping the states united as one. It was written and delivered by Abraham Lincoln in Gettysburg, Pennsylvania at a cemetery dedication for soldiersRead MoreThe War Between The North And The South993 Words   |  4 PagesAmerica or the (Rebels), led by President Jefferson Davis. The North was still referred to as the United States of America or the (Union), led by President Abraham Lincoln. Jefferson Davis was hero in the Mexican War, senator in Mississippi, President of the Confederate States of America during the American Civil War. Jefferson Davis did not want the secession, when Mississippi separated Jefferson Davis resigned from the United States Senate. Then Jefferson Davis became the President in FebruaryRead MoreDeclaration Of Independence And The Gettysburg Address1089 Words   |  5 Pagesaffiliated with congress, congress is our national legislative body of our country which proves major credibility. For instance, the Declaration of independence was written by five individuals who was very important and knowledgeable. These names were Thomas Jefferson, John Adams, Benjamin Franklin, Robert Livingston, and Roger Sherman. In the Declaration of independence it demonstrates fairness on many occasions. In the passage it states that â€Å"all men are created equal † (Capital BAC 186) which means thatRead MorePresident Lincoln As A Visionary Leader1197 Wo rds   |  5 PagesAbraham Lincoln Imagine how the state of the world will be today without the leadership of the United States of America to police the world. Think about Iraq during Saddam Hussein’s regime, Libya during Arafat’s regime and the behaviors like Islamic State of Iraq and Syria (ISIS). Had it not been the vision of Abraham Lincoln to preserve the Union, there would not have been a strong unified United States today. President Abraham Lincoln was a visionary leader and an ethical leader when leadingRead MoreAbrahan Lincoln and the American Civil War782 Words   |  3 PagesPresident Abraham Lincoln was known for leading the bloodiest conflict in United States history during the Civil War. Lincoln successfully protected the slaves and the South from seceding. Lincoln’s career included the following influential positions: lawyer, senator, and eventually the President of the United States of America. The experiences of his personal life, career as a political man, and his ultimate co ntributions to America make him an important man in American history. On February 12Read MoreBlack Men And The Civil War927 Words   |  4 Pagestime women were one of the most important roles in the white house. Abraham freed slaves also makes no sense during the civil war period he said that slaves under his control were freed but the north didn’t support slaves and the south didn’t see Abraham as a president so he freed no one. Jefferson did many things that make no sense but one of them was when he purchased Louisiana from France he bought it with no permission and Jefferson was the one who was all against breaking the rules. One of theRead MoreSeeking a Just Judiciary839 Words   |  4 Pagesin 1820, Thomas Jefferson became one of the first persons to mention the danger posed by judicial overreach. In a letter to William Jarvis, he said that â€Å"You seem†¦to consider the judges as the ultimate arbiters of all constitutional questions; a very dangerous doctrine indeed, and one which would place us under the despotism of an oligarchy. Our judges are as honest as other men, and not more so† (Jefferson). His sentiments were later echoed by another famous president, Abraham Lincoln. Under the

Samuel OReilly Invented the Tattoo Machine

More and more people are getting tattoos today, and they do not carry the same social stigma that they used to. But we didnt always use the tattoo machines that you see in your standard parlor. History and Patenting The electric tattooing machine was officially patented on Dec. 8th, 1891 by  a New York tattoo artist named Samuel OReilly. But even O’Reilly would be the first to admit that his invention was really an adaptation of a machine invented by Thomas Edison—the Autographic Printing Pen. O’Reilly witnessed a demonstration of the electric pen, a sort of writing drill that Edison had built to allow documents to be etched into stencils and then copied. The electric pen was a failure. The tattooing machine was an unqualified, worldwide smash. How it Works O’Reilly’s tattoo machine worked by using a hollow needle filled with permanent ink. An electric motor powered the needle in and out of the skin at a rate of up to 50 punctures per second. The tattoo needle inserted a small drop of ink below the surface of the skin each time. The original machine patent allowed for different sized needles deliver varying amounts of ink, a very design-focused consideration. Before O’Reilly’s innovation, tattoos—the word comes from the Tahitian word â€Å"tatu† which means to mark something—were much harder to make. Tattoo artists worked by hand, perforating the skin perhaps three times a second as they installed their designs. O’Reilly’s machine with its 50 perforations per second was an enormous improvement in efficiency. Further enhancements and refinements to the tattoo machine have been made and the modern tattooing device is now capable of delivering 3,000 punctures per minute.

The Ardhakathanaka ( Half A Life ) - 992 Words

In the 17th century, Jainism was among the few religions that existed in India. One of the few principles that Jains followed strictly is to be a non-violent human. Thus, their jobs also reflected this principle. Men whose occupations is a merchant, he was obligated to travel to many cities to sell his goods to support himself and his family. Merchants were often away from their family and thus the friends and acquaintances that they meet during their travels became prominent encounters. Some aspects of friendships that are often encountered include, brotherhood, companionship and selflessness. These three elements were all greatly exemplified throughout the autobiography The Ardhakathanaka (Half a Life). In the autobiography, Half a life, friendship is depicted as a very special and timid relationship that people encounter on a daily basis. The different levels of human kinship become very obvious as the Jains encounter friends and acquaintances during their travels because every in teraction that the people had are depicted very organically. The autobiography begins the story with the narrator (known as Banarasidas) introducing his family members who are part of the merchant and goods industry. Banarasidas first encounters positive friendship at a very young age when his father, Kharagsen, and the family needed to flee to a nearby city. Kharagsen and his family had no shelter after arriving at a new city and he was filled with despair. A man, by the name of Karamchand

Pacific Lumber Essay Example For Students

Pacific Lumber Essay Pacific Lumber started its long history as an environmentally respectful company, however it has not continued that into this decade. The millions of acres of Redwoods that once densely covered the western land have been taken away for financial reward. Before selling, the company way was sustainability, now it is profitability. Because of the efforts of essentially one man, the business has over-harvested the supposed protected Redwood. It is not a simple answer as to why this has happened, nor is any explanation of environmental destruction. What people want often overrides the needs of the land, creating our society of selfishness and greed. As Hardin points out in his article, people were not always so fast to put the needs of themselves in front of the land. Years ago, people depended on the land for survival, but in a more direct way then today. In The Tragedy of the Commons, it is explained that maximizing for the greatest good is what we are striving for. Maximize the population, maximize growth and maximize growth. Industrialization brought with it the belief that more is better, money is power, and status is how much you own. We do not live with the land and respect it as we should, we live off it, and it dies off us. To create the greatest wealth is what we are striving for as a whole, regardless of the impact to our land. To live with the land would mean less economic growth, less income, fewer cars, fewer mahogany desks and tables, basically, living with less. Pacific Lumber once practiced sustainability with the Redwoods. Before one man allowed greed to get in the way of morality and values. The company only harvested as fast as the trees could grow back. They were in harmony with nature. One tree goes to the mill, one grows so it can be used some time in the future. They did not, as a company, focus on continual growth, expansion or profit. The company focused on its employees and the health and condition of the forest. With the sale of the company, everything the company was respected for was lost. The new way of doing business meant cutting the trees faster and more efficiently to ensure the highest profit. Without regulation, Redwoods are still being cut that should have been protected many years ago. There have been attempts at regulation, but is that the way to stop environmental damage? Hardin points out: Prohibition is easy to legislate; (though not necessarily easy to enforce)? The same is true with the forests, how do we effectively enforce regulations? Politics play too big a role for most of us to know these answers. Lobbying in political venues by lumber and paper companies and financial tradeoffs create turmoil and corruption in trying to stop or even slow down the clearing of forests. A picture was taken of Bill Clinton and Hurwitz together in Houston, raising serious doubts about government and their role with businesss such as Pacific Lumber. Regulation must start with our greatest problem, the population explosion. Without some control over what is an exponentially increasing epidemic, how can we slow the demand for any product, including Redwoods? Taxing is another step, by using the money raised by taxes on Redwood products, the government could invest in saving the forests. Appealing to a manufacturer to make an alternative out of more renewable resources is an immediate short-term change that could save trees other then Redwoods. With government help, an existing or new manufacturer could develop a product close to the properties of Redwood and sell it at a cheaper price. .u4aba254d1244e7a85fd3e94d470c7e9a , .u4aba254d1244e7a85fd3e94d470c7e9a .postImageUrl , .u4aba254d1244e7a85fd3e94d470c7e9a .centered-text-area { min-height: 80px; position: relative; } .u4aba254d1244e7a85fd3e94d470c7e9a , .u4aba254d1244e7a85fd3e94d470c7e9a:hover , .u4aba254d1244e7a85fd3e94d470c7e9a:visited , .u4aba254d1244e7a85fd3e94d470c7e9a:active { border:0!important; } .u4aba254d1244e7a85fd3e94d470c7e9a .clearfix:after { content: ""; display: table; clear: both; } .u4aba254d1244e7a85fd3e94d470c7e9a { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u4aba254d1244e7a85fd3e94d470c7e9a:active , .u4aba254d1244e7a85fd3e94d470c7e9a:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u4aba254d1244e7a85fd3e94d470c7e9a .centered-text-area { width: 100%; position: relative ; } .u4aba254d1244e7a85fd3e94d470c7e9a .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u4aba254d1244e7a85fd3e94d470c7e9a .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u4aba254d1244e7a85fd3e94d470c7e9a .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u4aba254d1244e7a85fd3e94d470c7e9a:hover .ctaButton { background-color: #34495E!important; } .u4aba254d1244e7a85fd3e94d470c7e9a .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u4aba254d1244e7a85fd3e94d470c7e9a .u4aba254d1244e7a85fd3e94d470c7e9a-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u4aba254d1244e7a85fd3e94d470c7e9a:after { content: ""; display: block; clear: both; } READ: Hamlet's Delay with Revenge EssayStopping the cutting of Redwoods will take more then simple regulation by government, a group that may or may not be ready to extend a hand to the environment. It will take extremists like the girl who is currently in the news because she is protesting by sit-in; sitting in a tree that is. On the NBC News, the young women said, in her own words, doing all she knows how to make a difference and save some of this beautiful forest. The loggers continue to cut all around her, putting her life in danger. The viscous cycle goes on, no matter that a fellow (apparently sane) human being is sitting in a tree in a desperate attempt to stop the cuttin g. The loggers must earn money, to make the company money, to make government money, and the cycle goes on. The Land Ethic, according to Aldo Leopold, includes in the community: soils, waters, land, plants and animals. Today, if a person on the street were asked to define community, he or she would most likely answer: a group of individuals or families residing in an area of a few blocks or miles. Nothing to be said about the land, animals, trees or water that is so obviously a part of a community. We are in the eyes of many, conqueror of the land, therefore we are allowed to treat it as we choose.Pacific Lumber in no way considers Redwoods to be part of their community. They can tell us, the outsiders, they only selectively cut around endangered animals and precious streams. If they really cared, they would not be cutting any of the last remaining natural wonders of our community. They seem to care about having a nice community for the employees to enjoy, but what about the animals and their community? We fail to consider living, breathing animals as part of our community. What if we chan ged the name of the Redwoods to Old Growth Humans? Surely, there would be some hesitation to cutting down 300 year-old humans! Why have humans placed themselves at such a high level that not even the very land we live on is important enough to us to love and respect it? We would rather see one human being prosper then an entire forest of great diversity survive. Humans would rather see other humans make a dollar then make an environmental difference. Political leaders would sooner spend billions on defense then millions on the environment. The question remains, why did we evolve into mass-consuming, money hungry, greedy idiots?The answer may be partially a result of our culture, childhood and education. Growing up I was taught by my elders, as I am sure many others were, that the most important thing is this world is to make money, no matter the expense to the environment. When I asked my father in younger years about the lake on the news or the business polluting a river in Maine, he would say: Oh one company or one person wont make a difference, its no big deal. That is precisely the ignorance that has brought this world to an all time high in environmental damage, including the cutting and clearing away of Redwoods. To illustrate the mindset of our community, consider the American Dream. We are taught indirectly that the dream is what we all should strive for in the U.S.- make as much money as possible, have 2 or 3 children and pollute and destroy the environment how you see fit. Watching the news a week ago I learned about the girl in the Redwoods, giving us hope that something will be done as a result of her extreme actions. That hope quickly vanished when Hurwitz was interviewed about the girl and the company in general. When asked about his position on the role of the company and the girl, he replied: We will be careful to appreciate the interests of the girl and others like her, but business must go on and we are doing very well, despite her actions?we will continue to grow and expand, you know, its kind of the American Dream. I could not believe my ears hearing this powerful man saying this childhood thought on national news. It is scary to think how many people believe strongly, in the same manner as the owner of Redwood destruction are us, in the American Dream. Economic growth is what we care most about, second is human well being, and last on the list is the environment. A community or commons is not considered by most to include humans and the land. Humans are controllers of the land, we can do to it whatever we desire, no matter the impact to life other then ours. The only way to change this attitude is to educate starting at a very young age. Along with the basics of math, science and english, environmental classes should be included. The children will go home and tell their parents what they learned about the environment in class, encouraging the adults to change their ways as well. This approach is one of the ways we ca n guard against the clearing of forests, polluting streams, endangering animals and other environmental impacts; and in the process, creating people like Hurwitz.

Uncle Dan Essay Example For Students

Uncle Dan Essay The odd superstitions touched upon were all prevalent among children and slavesin the West at the period of this story that is to say, thirty or fortyyears ago. Mark Twain Hartford, 1876 Dealing with the role of magic in HF,Daniel Hoffman claims a subtle emotional complex binds togethersuperstition: slaves: boyhood freedom in Mark Twains mind.1We know howTwain felt about boyhood freedom his nostalgia for it lead him to some of hisfinest writing, and it lends its charm to his most enduring works, TheAdventures of Tom Sawyer and The Adventures of Huckleberry Finn. How Twain felttoward slaves is more ambiguous. In his autobiography Twain wrote of UncleDanl, the man on whom the character Jim was based, that hissympathies were wide and warm and that his heart was honestand simple and knew no guile (Autob., 2.) To the time spent on his unclesfarm in Florida, Missouri Twain credited his strong liking for his race andappreciation of certain of its fine qualities (Autob.,3.) To the late-tw entieth-century reader, of course, Twains treatment of blacksis extremely problematic. Jims character presents many difficulties are weto think of Jim as the man who longs for his family even as he valiantly runsaway from them or the fool who gains celebrity among the slaves for a story heinvents and believes? How could Twain allow Jim to assert his human dignity onthe raft, then subject him to a series of gross humiliations at the Phelps farm?Definitive answers to these questions are impossible. However they and the factthat they must remain unresolved affect all conclusions we draw about Twain andhis black characters. In considering superstition, the third part of thistriangular relationship, we are again left with questions about Twainsfeelings. In Form and Fable in American Fiction, Daniel Hoffman writes thatTwains usual assumption is that white persons of any status higher thantrash like Pap have little knowledge of, and no belief in, superstition 2Superstition is mainly for s laves and boys. It is important to note that withinthe framework of Huck Finn, dissociating a thing from white culture is by nomeans casting it in poor light. In fact when put under the scrutiny of Huckshonest narration, white culture suffers badly. Miss Watson, thoughgood, is harsh and unkind. The King and Duke think nothing oftricking the Wilks girls out of their inheritance; even the Grangerfords, whoare quality, partake in a vicious and deadly feud. The brutalitiesthat Huck witnesses Bucks killing, Boggs murder are committed by whites. We will write a custom essay on Uncle Dan specifically for you for only $16.38 $13.9/page Order now Although Pap has superstitions, folk beliefs in the story belong to Huck andJim, the characters we most trust. While incidents like Jim begging mercy fromthe ghost Huck and Nat and the witch pie are clearly intended tomake the reader laugh at the ignorance of the believers, are we not somehow leftin the end with the idea that the zealous followers of superstition are somehowsafer than their Christian counterparts? In The Adventures of Tom Sawyer aboy of German parentage memorizes eight or ten thousand bible verses butgoes mad from the effort. In Huck Finn the Shepherdsons and Grangerfords go tochurch with their guns. On the other side, the slaves come from allaround to see the five cent piece which they and Jim believe was given tohim by the devil. We as readers know that the slaves have been duped by theirown superstition and by Toms mischief, but are we convinced that they are worseoff than the people at the camp meeting who donate a total of $87.75 to thatscoundrel, the King, for his mission in the Indian Ocean?Bibliography1. Daniel G. Hoffman, Jims Magic: Black or White?. AmericanLiterature XXXII March 1960, pp. 47-54. back to text 2. Daniel G. Hoffman, Formand Fable in American Fiction. Oxford University Press. New York, 1965.

Hypothesis or Theory (Tips on Scientific Language) - Get Proofed!

Hypothesis or Theory (Tips on Scientific Language) - Get Proofed! Tips on Scientific Language Science can be a dangerous thing in the wrong hands. According to one song, it can even cause blindness. And as a result, we need to be careful with science and scientific language. (And Thomas Dolby.) Were not sure of Dolbys scientific qualifications, though. (Photo: Arthur Mouratidis/wikipedia) The main problem (for us) is that scientists often use familiar terms in unfamiliar ways. And if you don’t know the scientific use of these words, it’s easy to make an error. So, to help out, we’re taking a closer look at three terms: â€Å"hypothesis,† â€Å"theory,† and â€Å"significant.† Hypothesis (A Testable Idea) In everyday language, we sometimes use â€Å"hypothesis† to refer to an educated guess. This is fairly close to how it’s used in the sciences, but it also has some specific requirements. A hypothesis should be: An attempt to explain something that can be observed Phrased in a way that means we can test it Once a hypothesis has been tested, it can then be accepted or rejected depending on the results. Theory (A Well-Tested Concept) A theory is a proposed explanation of something. But when people say that something is â€Å"just a theory,† they mean that it hasn’t been proven. This is because one sense of â€Å"theory† is â€Å"speculation.† However, in scientific writing, it means the complete opposite of this. A scientific theory is actually something that has been tested repeatedly and that is widely accepted as true. This makes it much stronger than a hypothesis and much, much stronger than pure speculation! This doesn’t mean that a theory can’t be disproved, but you would need to show evidence that it’s untrue or suggest a better theory. A scientific theory is never â€Å"just† a theory. Its just a theory supported by 160 years of research. Significant (Unlikely to Have Happened by Chance) To be â€Å"significant† is usually to be important or noteworthy. The opposite is to be â€Å"insignificant.† In the sciences, though, â€Å"significant† typically refers to statistical significance. The results of a test are statistically significant if we can show that they’re unlikely to be due to chance alone. The opposite of this is â€Å"non-significant,† which means that the results could have been influenced by randomness. In addition, keep in mind that something can be statistically significant without being noteworthy. There’s a statistically significant relationship between breaking eggs and making an omelet, for example, but this isn’t a hugely â€Å"significant† discovery in terms of being interesting or important. Its a scientific breakthrough! Other Scientific Language The terms above are significant (in the everyday sense) because they’re common in many scientific fields. As such, anyone reading or writing about science needs to know how they’re used. However, there are plenty of other examples. If a physicist is discussing a â€Å"flavor of quark,† for instance, they could be talking about either subatomic particles or dairy products. This is why we need to be careful with scientific language. And if you come across a familiar word being used in an unusual way, always double check its scientific meaning.

The cold War and Masculinity Essay Example | Topics and Well Written Essays - 1750 words

The cold War and Masculinity - Essay Example The Cuban missile crisis had been the most glaring example of a possible nuclear war. While the possibility still remains valid today, the menace appeared more eminent in cold war era. The cold war can actually be compared to a chauvinist conflict, whereupon both nations involved tried to use their supposed technological supremacy as a tool to undermine the influence of other nation. This notion is quite obvious in Stanley Kubrick's movie "Dr Strangelove: or How I learned to stop worrying and love the bomb", as well in the text authored by Nobel Peace Prize laureate Joseph Rotblat, "A war-free world". Though the cold war no longer exists but the situation in Iran, Iraq and the role of International Atomic Energy Agency (IAEA) has again compelled this world to think of a very different approach towards nuclear deterrence. Mohamed ElBaradei, the eminent scientist who is heading IAEA while giving a lecture at Stanford, called for a new commitment from the peace loving world to go for nu clear disarmament rather than nuclear deterrence. The human urge to use things of mass destruction in satisfying their hatred and paranoia has been the main theme of the movie Dr. Strangelove. Right at the start of the movie,

Gender ideology Essay Example | Topics and Well Written Essays - 500 words

Gender ideology - Essay Example G. Bissinger are no exception to what is stated above. Traditional masculinity is evident in the story of 1988 Permian â€Å"Mojo† Panthers football season. A superficial role is given to the Pepettes, who are senior high school girls. Hysteria prevails amongst the football fans during the entire season, and each tournament is a do-or-die act for the members of the team. The Odessa community has a social structure that intensely favors the male. The football players are treated like the royal princes. How does the football tournament begin? Bissinger provides a graphic picture of the opening ceremony related to the match. He writes, â€Å" Behind the rows of stools stood the stars of the show, the members of the 1988 Permian Panther high school football team. Dressed in their black game jerseys, they laughed and teased one another like privileged children of royalty. Directly in-front of them, dressed in white jerseys and forming a little protective phalanx, were the Pepettes, a select group of senior girls who made up the school spirit squad. The Pepettes supported all teams, but it was the football team they supported most. The number on the jersey each girl wore corresponded to that of the player she had been assigned for the football season. With that assignment came various time honored responsibilities.†(p.45) The mention of time honored responsibilities, indicates the subservient role of the female gender as per the societal norms. The girls had no part in the football game, and not one among them was directly connected to the game, except that they played the role of cheering the players. This is nothing but a subtle form of exploitation and assertion of superiority of masculinity. The exploitation in another form was also prevalent and the players were entitled to some special entitlement, at the cost of Pepette. Bissinger further writes, â€Å" As a part of the tradition, each Pepette brought some type of sweet for her player every week before

Construction sector of India is an integral part of the economy

Construction sector of India is an integral part of the economy Introduction Construction sector of India is an integral part of the economy and is progressing on account of urbanization, industrialization, economic development and peoples soaring expectations for improved quality of living. Between 2004-05 and 2008-09 average real growth has been an impressive 12.28% year-on-year (y-o-y), which reflects the countrys immense need for continued investment in transport infrastructure, electricity generating capacity and housing, as well as the build-up of industrial capacity (BMI, 2010). Segmentation of Construction Industry The Indian Construction Industry can be divided into residential segment generating 85.8% of the total revenues and the non-residential building segment that generates 14.2% of the industrys value (Data Monitor, May 2009). (APPENDIX 1) Real Estate à ¢Ã¢â€š ¬Ã‚ ¢ Corporate à ¢Ã¢â€š ¬Ã‚ ¢ Industrial à ¢Ã¢â€š ¬Ã‚ ¢ Residential à ¢Ã¢â€š ¬Ã‚ ¢ Commercial (APPENDIX 2) Infrastructure à ¢Ã¢â€š ¬Ã‚ ¢ Roads à ¢Ã¢â€š ¬Ã‚ ¢ Urban infrastructure à ¢Ã¢â€š ¬Ã‚ ¢ Railways à ¢Ã¢â€š ¬Ã‚ ¢ Airport Porters Five Forces Threat of New Entrants Bargaining Power of Suppliers Bargaining Power of Customers Competitive Rivalry within the Industry Threat of Substitutes Bargaining Power of Suppliers Indian construction industry consists of two categories of suppliers, those providing construction materials and those who provide constructional services like electrical installation In India there are many small players in the construction material manufacturing industry, which weakens the supplier power (Data Monitor, May 2009). The subcontractors who provide constructional services are in a weak position due to the existence of many small operators. Overall, supplier power in this industry is moderate. Bargaining Power of Buyers Buyers in this industry are few and large such as government agencies or other major organizations, rather than individuals. The presence of low costs along with the strong price sensitivity of demand strengthens buyer power in the industry. Also the buyers are rarely capable of integrating backwards and take over the practicalities of the project themselves thereby proving that the buyer power in this industry is moderate (IICCI, 2008). Threat to New Entrants The governments recent liberalization of the rules governing foreign companies entering the Indian industry has boosted the entry of new players. Since a very small amount of capital is adequate to enter this industry and the contractors can reduce their costs by renting rather than buying equipment, the labor market is extremely elastic. Overall, the threat of new entrants to the industry is strong. Threat of Substitutes The threat of substitutes in this industry is very weak as it is unlikely that any alternative expenditure would be satisfactory for a buyer even if he has the requisite funds for a new construction project. Even if buyers have the option of renovating an existing structure rather than investing in a new construction, players in the construction and engineering industry remain likely to be involved. Competitive Rivalry within the Industry The atmosphere of a secure growth within the Indian construction industry eases rivalry by creating space for expansion. The low capital cost of market entry translates into low sunk costs reducing the exit barriers. Thus the rivalry is considered to be moderate (Data Monitor, May 2009). Key Players in Construction Industry Larsen Toubro Limited (LT) is one of the largest and most respected technology, engineering, construction and manufacturing companies of India. Jaiprakash Associates Jaiprakash Associates Limited principally provides civil engineering and construction services primarily in India. They earned a revenue of about 65000 US $ in the year 2010. (Business Wire, November 2006) Hindustan Construction Company HCC is one of the leading construction companies of India having built several landmark projects in Indias Hydro Power and water resources sector (Sandeep Sawant, Sept. 2007). Gammon India It is the only Indian Construction Company to have been accredited with ISO 9001 certification for all fields of Civil Engineering Works. Gammon employs expertise who has proved their innovative skills in India and abroad PESTLE Analysis of Construction Industry Source: http://www.whatmakesagoodleader.com/macro-environment-analysis.html Political Factors SEZ Act Special Economic Zone is the new target for real estate investors. As of date there are 105 approved SEZs in India (General Knowledge Today, Feb 2010). Laws governing these zones are more liberal in nature than the centralized laws and enhance a countrys technology growth, infrastructure and economic development. FDI Liberalisation The government of India has permitted a Foreign Direct Investment of 100 % for development of townships in India. India is now 2nd most preferred country for FDI after China. Opening of FDI in construction and allowing developers to raise capital in international markets has led to development of larger projects (Mohit Saraf, July 2009). Impact of REITs The introduction of Real Estate Mutual fund (REMF) and Real Estate Investment Trust (REIT) has boosted real estate investments from the small investors aspect. Economic Factors Gross Domestic Product (GDP) Growth India is witnessing tremendous growth and expansion of construction activities and construction is the largest component of GDP. It has been growing at a rate over 10 % in the past few years when GDP was around 8% (Farook Azam, 2010). (APPENDIX 3) Source: IHS Global Insight Change in Demand Changes in the demand due to factors like changes in disposable income of perspective buyers and inflation may affect the construction industry. With the easy availability of housing loans and tax redemption on loans the demand for houses is increasing and thus construction is gaining weight. Fluctuations in Prices of Inputs Many builders tend to stop work when the prices of inputs like cement, iron etc go up and wait till the prices come down. This leads to unnecessary delay in the work and the cost of wasting time would actually be more than the increase in price (Arghadeep Laskar and C. V. R. Murty, 2003). Social Factors Goodwill of the Company Brand name of a builder or the company plays an important role in convincing the buyer to buy the house and be sure of the quality of construction work done. A low credibility or image can lead to poor financial performance. Green Buildings A green building is one which uses less water, optimises energy efficiency, conserves natural resources, generates less waste and provides healthier spaces for occupants, as compared to conventional building (India Today, Vol. 34, Issues 1-8). The estimated market potential for green building was about $ 400 million in 2010 and is increasing continuously. Technological Factors Upgrading of Technology Use of low grade technology in the construction sector leads to low value addition and low productivity apart from sub standard quality of construction and time over runs in projects. Due to lack of technology, construction can suffer in terms of quality and design. Source: managingthedragon.com Ready Mix Concrete The business of ready mix concrete in India is in its infancy. Indian ready mix concrete business uses only 2% of the total cement production. The increasing use of ready mix saves time and allows better quality too. Legal Factors The National Housing Policy NHP (1998) was formulated to address the issue of sustainable development of infrastructure. The Government helps to provide fiscal concession to carry out legal and regulatory reforms and create and enabling environment for the construction industry (P.R. Swarup, Director General, Construction Industry Development Council, India). Environmental Factors Uncertain Calamities Uncertain environmental hazards like earthquakes, floods etc. have a disastrous impact on the construction industry and can delay construction as well. This has been witnessed during the construction of the Metro line in the capital of India, New Delhi where one of the railway lines being constructed collapsed due to heavy rainfall and delayed the total completion time of metro. Structural Drivers of Change Globalization After the policy of globalization being introduced in 1990s, the private companies started being more aware about construction products and there was inflow of construction based knowledge and technology from other countries to ours changing thinking towards the whole construction scenario. Import and export procedures, customs and excise laws and ease in operations of foreign accounts minimized controls on industry and rapid growth took place. Due to simplified single window clearance import export procedures became easier thereby allowing Indian construction Industry to compete in overseas market (Accommodation Times, 2009). Technological Developments A key driver of transformation for the Indian construction industry is technological change. Global telephony, satellite communications and video links are now widely available (Shakantu, 2000). Information and communication technology (ICT) is significantly influencing technological change (CIRIA, DTER, 1999). Simulations of entire construction processes and systems can be developed to determine the optimal approach to achieving desired performance (Shakantu, 2000; Fisher, 1993; Coyle, 1996). Changes in Government Policy The government policies helped in boosting the real estate sector by substantial cutting interest rates and facilitating greater ease in credit. Recent excise duty cuts on cement and steel also reduced the construction costs. These recent government initiatives increased liquidity in the market and brought down the interest rates to a more realistic level. Life Cycle of Construction Industry The Indian construction industry is in its growth stage growing at over 20% over the past 5 years. It has witnessed a revolution, driven by the booming economy, favorable demographics and liberalized foreign direct investment (FDI) regime (World Market Intelligence, March 2010). We can say that the sector has been performing quite well over the past decade. Despite the depressing global scenario, the Indian market was protected from the effects, as the economy as was more robust than its counterparts. The pace of private construction slowed down but remained positive. With the growing capital inflow within India and from abroad the demand for infrastructure is likely to increase. The Indian government has been a major investor in this sector in order to stimulate the development of construction industry to the requisite level required to achieve the next growth target. (K.V.S.S., Narayana Rao, 2009). Although steady progress through the construction industry is not inevitable, the life cycle concept does none the less remind construction companies that conditions will change over time. ( Johnson, Scholes Whittington, 2008) (APPENDIX 4) In 2013, the Indian construction and engineering industry is forecast to have a value of $55.3 billion, an increase of 44% since 2008. Future Scenarios for Construction Industry Scenario 1 New Equipment, Technology and Materials Involvement of Indian consultants in international projects has led to blend of new materials, equipment and technologies in the construction practices of India. Very soon the growing demand for such advanced equipment will force the builders to manufacture these as well. The government has also taken some remarkable initiatives to ensure that its basic infrastructural structure is more efficient and world-class. Therefore billions were spent on constructing bridges, roads, railway transportation, power infrastructure etc. Construction equipments especially earth moving equipment sector has benefited the most from these developments and is poised to grow at double digit CAGR by FY 2014 (Free Press Release, 2010). It is expected that during 2007-2015, the potential investment for new equipments and materials will be around US$ 750 Billion. Scenario 2 Employment Opportunities India with its high potential untapped market attributes has become a favourite destination for global construction equipments companies. There will be demand for over 24.3 million new dwellings for self-living in urban India alone by 2015 (Housing Skyline of India 2007-08) Considering governments projects lined up for the Eleventh Plan period, the demand for construction is expected to grow by at least 8-9%, and 2.5 million employment opportunities per annum are expected to be generated ( BMI, 2011).Thus those who are looking for opportunities in this sector would be rewarded with accelerated learning and fast progress. Construction Industry has created a need for the full spectrum of employees varying from professionals like civil and mechanical engineers and architects to daily basis wage construction workers and industrial workers such as steel and cement manufacturers to highway toll booth operators. Thus it is advisable to join a leading Indian Construction Company, or a multi-national present in India even from a beginners level as there is large scope for training and rapid upward movement through the ranks for talented individuals. Scenario 3 Changing Indian Economy The changing economy is placing increasing pressure on Indias physical infrastructure, not only from population growth and developing economic activities, but also structural changes in the economy. Indias economy now clearly reflects a steady decline of primary sectors, such as agriculture, forestry, and fishing, giving more importance to the non primary sectors such as service and manufacturing industry. But it is predicted that growth in construction spending in the longer term is likely to be enormous, driven by a rising population and a growing middle class. Since 100% foreign direct investment (FDI) is now allowed in construction, it now allows significant inflows of capital to meet growing demand from the increasing middle class. Indias population growth rates remain well above replacement level and the number of people living in urban areas is likely to grow significantly (BMI, 2011). ( APPENDIX 5) Conclusion Though all these scenarios are linked together and their inter relationships can produce long and complex results, growing population is the key driver of success of the construction industry. (Johnson , Scholes Whittington, 2008) According to me the second scenario is the most influencing scenario as it is directly linked to Indias growing population which is an unstable factor growing at a fast rate and directly linked with the success of the construction industry. Bibliography India Netzone, (2008), Nature of Construction Industry, Available at: http://construction.indianetzone.com/1/nature_construction.htm. [Accessed 15 March 11] Indo Italian Chamber of Commerce Industry (2008), Overview of the Construction Industry in India , Opportunities, Available at: http://www.centroesteroveneto.com/pdf/Osservatorio%20Mercati/India/Ricerche%20di%20Mercato/2009/Construction%20Sector.pdf, [Accessed 15 March 11] Info Shine (2008),  Construction Real Estate Available at:  http://info.shine.com/Industry-Information/Construction-and-Real-Estate/855.aspx, [Accessed 15 March 11] Research Markets (2006), Indian Construction Industry: An Analysis., Description, Available at: http://www.researchandmarkets.com/reportinfo.asp?report_id =335655t =dcat _id=,[Accessed 15 March 11] Credit Analysis Research, (2010), Indian Construction Industry, Available at: http://www.careratings.com/content/ResourceCenter/reports/Synopsis_for_Construction_Industry.pdf, [Accessed 15 March 11]. Farook Azam (2010), Institute of Industrial Engineers, The Construction Industry in India , Available at http://www.iienet.org/Details.aspx?id=20432 , [Accessed 15 March 11]. CBS Interactive Business Network (2006), The Indian Construction Industry, Available at: http://findarticles.com/p/articles/mi_m0EIN/is_2006_Nov_20/ai_n16851629/?tag= content; col1, [Accessed 15 March 11] Law is Greek, (2010), An Overview: Special Economic Zones (SEZs) in India, Available at: http://www.lawisgreek.com/an-overview-special-economic-zones-sez-in-india/, [Accessed 15 March 11] Johnson, Scholes Whittington (2008), Industry Life Cycle, Exploring Corporate Strategy, 8th Edition, Pg 68-69 [Accessed 16 March 11] Accommodation Times, (2009),  Globalization of Construction Industry Available at: http://www.accommodationtimes.com/property-rates/globalisation-of-construction-industry/, [Accessed 16 March 11]. World Market Intelligence, (2010) , Future of Construction In India, Available at: http://www.docstoc.com/docs/25943727/The-Future-of-Construction-in-India, [Accessed 16 March 11] Moht Saraf (2009), Real Estate, Indias Real Estate Sector: An Overvie, Available at: http://www.whoswholegal.com/news/features/article/18426/indias-real-estate-sector-overview/ [Accessed 16 March 11] K.V.S.S., Narayana Rao, (2009) Industry Analysis Valuation, Infrastructure INDIA Version 14, Available from: http://knol.google.com/k/narayana-rao-k-v-s-s/industry-analysis-and-valuation/2utb2lsm2k7a/950, [Accessed 16 March 11] Hindustan Construction Company India (2007), HCC: About HCC, Available at: http://www.hccindia.com/hcc_admin/data_content/pdf_files/HCC_bags_Rs._693_.61_crore_Euro_1_.457_crore_order_from_Delh_.pdf, [Accessed 16 March 11] Arghadeep Laskar and C. V. R. Murty (2005), Challenges before Construction Industry in India, New Materials, Equipments Technologies, Available at: http://www.iitk.ac.in/nicee/RP/2004_Challenges_Construction_Industry_Proceedings.pdf, [Accessed 16 March 11] Free Press Release (2010), Indian Earth Moving Equipments Industry to Boom in Near Future Available at: http://www.free-press-release.com/news-indian-earth-moving-equipments-industry-to-boom-in-near-future-1287567300.html, [Accessed 16 March 11] Business Monitor International (2011), Industry Forecast Scenario, Available at: http://www.businessmonitor.com.libproxy.nlb.gov.sg/cgibin/request.pl?SessionID=393511974808887view=articleviewerarticle=446198service=22iso=INmetaid=190, [Accessed 16 March 11] APPENDIX Appendix 1 Source: IHS Global Insight Appendix 2 Source: IHS Global Insight Appendix 3 Source: IHS Global Insight Appendix 4 Indian Construction Industry Value Forecast Source: Data Monitor

Symbols and Symbolism in The Wraith of the Rose :: Wraith of the Rose Essays

Symbolism in The Wraith of the Rose "The Wraith of the Rose" is poem that seems to suggest the dual nature of love and relationships. There is the love and joy that is represented by the natural beauty of the flower, which is accompanied by the bitterness of a love that was lost and the pain that remains. The idea that love sours is not new, but in this poem there is the wraith, which is a ghost, that represents the pain that love can bring. One of the most interesting sections of the poem that goes from line 13 to 23 and starts with "I wish" in groupings of three reflects the desires of a lover looking back on a past relationship and the longing to go back to the happier days of the relationship. This longing is just as evident in the rest of the poem and is solidified with the symbolism of the wraith. The first groupings of "I wish" start with a genuine sentiment by the author to again be in the place where "the chain was still unbroken" and to have " kept that last fond token". This entire group suggests that the author keeps fond memories of the relationship. In the next groupings of "I wish" the author starts to point the finger at the other person in the relationship by using the line "I wish you were not all deceit". This is the first instance where the author expresses anger about the break-up the relationship and does not recall memories with fondness. Although the author does address her own faults by saying, "And I so fickle-hearted", she stills holds contempt for her past lover. I am somewhat surprised that it took this long for the author to place blame on the other person because of the fact that most people and selfish and assume that the reason for a relationship not working is always the fault of the other person, not their own. The third groupings of "I wish" further implicates the other person as the cause for the failure of the relationship and the reason why they are not together now. She writes "I wish you could reclasp the chain" and "I wish- you hadn't drunk champagne". These lines have an honesty about them and ring true to the feelings of a normal person dealing with the loss of a relationship.

Economic Effects on Easyjet

Coursework Two: Written report evaluating and commenting on the recent developments in monetary, fiscal and exchange rate policy in the UK and abroad and how these impact on easyJet With the new coalition Government of the Conservatives and Liberal Democrats gaining power in 2010, and almost immediately calling an emergency budget, as the Conservatives promised, declaring their primary objective is to reduce the deficit there have been many changes in fiscal policy and reversal of plans by the Labour Government, there has also been changes in the exchange rate which will have considerable impacts all over the world.Additionally the Bank of England has looked to make use of monetary policy. All of the changes in the UK, and in Europe will have an impact on easyJet (as easyJet only flies in Europe). The objective is to identify the changes in macroeconomic policies in the UK and abroad, using data and information from The Bank of England, the European Central Bank, the Institute for Fi scal Studies, the Budget, the easyJet corporate report and other various economic sources.The Main Objectives of Government macroeconomic policy are; sustainable economic growth, stable low inflation, low level of unemployment, and a good position on the balance of payments. It is that final policy that the coalition Government has declared most important.With the deficit growing year on year, with little sight of changing, and as such they have used fiscal policy drastically recently as, especially the Conservatives in the coalition Government, have looked to reduce the budget deficit with across the board cuts (totalling six billion Pounds) in Government spending, this coupled with the various tax rises are extreme measures which seem necessitated by the extreme economic times we are in. Many believe these actions will lead to a double dip recession, one which it could take the UK many years to recover.The Government also increased VAT on the 1st of January from 17. 5% to 20% (the highest it has ever been). Although George Osborne (speaking to the BBC on the 4th of January) thinks â€Å"targeting VAT is more progressive than increasing income tax or National Insurance† many still believe VAT is a very regressive tax, meaning it is more of a burden on those households with lower income. This graph (compiled by the Institute for Fiscal Studies) shows how the poorest 10% will be hit much harder than the other 90%, seeing a percentage loss of net income more than double that of the richest 10%.This is because VAT is on goods including necessities, which means a rise in VAT will not deter people from purchases of said goods, so VAT will have a large impact on their percentage net income. Although overall a rise in VAT will have cost the richest 10% more, as their net income is considerably larger they have to capacity to cope better with the rise, and will cause a smaller decrease in their net income. Another rise is in fuel tax, â€Å"Given that each pen ny increase in fuel duty raises an extra ? 00 million for the Exchequer, it is easy to see why the chancellor is tempted to hike rates,† said the foundation's director, Professor Stephen Glaister. The Government have increased fuel duty by 0. 76p on petrol and diesel, and the rise in VAT will mean another price increase. The AA estimates that â€Å"these increases combined will add approximately 3. 5p to the cost of a litre of both petrol and diesel. † According to HM Tresuary budget report 2010 â€Å"The most urgent task facing this country is to implement an accelerated plan to reduce the deficit.Reducing the deficit is a necessary precondition for sustained economic growth. † As such another part of the recent fiscal policy changes in the UK was announced in The Budget, that public sector net borrowing would remain at 4 per cent of GDP in five years time, the structural deficit would be 2. 8 per cent of GDP by 2014-15, while the structural current deficit woul d be 1. 6 per cent. They also set that public sector pay would see a two year freeze, apart for those earning less than ? 1,000 a year, this is an attempt to stop the rise in wages for the thousands working in the public sector, which will save the Government paying more and more each year and thereby help to reduce the deficit. Yet public sector employees will be hit hard by this policy, as inflation rises – their wages will not, meaning inflation will have a devastating impact on their net income as real prices rise, and taxes are increased. This will lead to public sector employees to purchase less, and thus provide less chance of growth which is one of the main macroeconomic objectives.However corporation tax will be reduced from 28 per cent to 24 per cent, a reduction that will be spread over the next four years from April 2011. This may encourage businesses to expand as they are paying less tax, which could lead to a decrease in unemployment (one of the primary macroeco nomic objectives) The budget also released a plan to â€Å"reduce the main and special rate of capital allowances to 18 and 8 per cent respectively in April 2012. Also capital gains tax will be increased to 28 per cent for higher and additional rate taxpayers† (The Budget), so the higher income households will have to pay a higher than ever before tax.The Government also intends to freeze council tax for 2011-12 by working with the local authorities, this potentional freeze on council tax will help the poorer level income earners, and could help them to escape the poverty trap. An increase in tax for the higher level income earners will not only provide more money for the Government – in an attempt to reduce the deficit – it will also improve the image of the main party in power; the Conservatives whereby they are seen as more favourable to the higher level income earners in the UK.Another policy instated is, what the Treasury call, â€Å"a reversal of the most damaging part of the planned increase in National Insurance Contributions† by instead of reducing it as Labour had planned, they are raising the threshold by ? 21 a week in April 2011. This will also lessen the burden on the poor, and thus with more available incomes they will spend more, which will be an injection into the circular flow (where the flow of payments in an economy is a circular flow, with injections and leakages, the injections being Government spending, investment etc, and the leakages primarily being saving).Europe was also been impacted by the recession over recent years, and their fiscal policy must try to combat its negative effects. Before the Recession, many countries in the EU had a large structural deficit. There was an inability to meet fiscal targets, for example the political pressure against tax increases and spending cuts. One country which has particularly been affected is Greece, with the EU average debt as a % of GDP at an already staggering 78 . 2%, Greece’s is at 122%. They have been hampered by powerful unions which gained considerable public sector wage increases without corresponding increases in productivity.Greece has also struggled to raise taxes and decrease Government spending. The depth of the recession has worsened the Government fiscal position much more quickly than expected; tax receipts have fallen while spending on unemployment benefits has increased dramatically. In Ireland they plan to tighten fiscal policy by more than 4% of GDP next year. However economists (Simon Tilford, Centre for European Reform, November 2010) debate whether a tightening of around 1. 5% in 2011 will derail the UK's economic recovery.Governments usually run a deficit in bad times, and a surplus in good times, yet in these times of recession Germany is running a budget surplus, by making necessary wage adjustments and increases in taxes as they are performing much more strongly than expected. Although The Bank of England was nationalized in 1997 by the then Chancellor of the Exchequer, Gordon Brown, meaning the Government no longer had control over the Bank of England, fiscal policy will have a large impact on the economy and how monetary policy is conducted.The primary tool of monetary policy is the use of interest rates. However in the UK the base rate was  left unchanged at 0. 50%  in the January meeting, the 22nd month in a row. The news of an economic slump, the UK economy contracted 0. 5% in the final three months of 2010,  has reignited fears of a double-dip  recession  and has reduced the likelihood of an early rate rise. Yet two  of the 9 MPC  members voted for a rise in the base rate at the January meeting, a rare split decision. However due to an inflation rise in December the CPI rapidly rose from 3. % to 3. 7%, chances of an early rate increase to control price pressures has raised. The Bank of England predicted in February 2010 that inflation would be at 1. 5% by the end of 2 010, which is far of the actual rate of 3. 7%. The MPC must now hope that price pressures will ease so it can stick with low rates and avoid stagflation. However it may be out of their control; global commodity prices have been, and still are, rising fast and Source tradingeconomics. com are now pushing up the cost of UK exports.The idea of increasing the base rate will encourage saving (a leakage from the circular flow) which will help to decrease spending and therefore inflation. However this could be met with a reduction in growth, or even the economy shrinking. Failing to raise the base rate would seem counter intuitive as the Government CPI target is 2% and inflation it at 3. 7%, well above the 1% band. The Bank of England decided to employ quantative easing by pumping ? 200bn into the system in an attempt to kick-start the UK’s economy.But the GDP shrunk by 0. 5% in the last quarter of 2010, so this policy does not seem to be helping growth. The MPC predicts inflation w ill continue to rise past 4% in the coming months which will encourage higher pay demands and could start up a wage/price spiral, the rising expectations of inflation means people/workers expect prices to continue to rise, so they are unlikely to accept pay rises less than the expected inflation rate because they want to protect the real purchasing power of their incomes, and this pattern continues.Monetary policy is greatly restricted in Europe due to the Euro, being a member of the Euro means that individual countries face limitations such as an inability to employ quantative easing or alter the base rate to affect the economy (this is one major factor in why the UK has not joined the Euro, and that the Coalition Government has stated that while they are in term they will not join the Euro). As such the European Central Bank (ECB) has power over setting the base rate, which since 5/7/2009 has been 1%, almost as long as the UK has been at 0. 5%.The ECB states â€Å"maintaining pri ce stability is the primary objective of the Eurosystem and of the single monetary policy for which it is responsible. † This is laid down in the Treaty on the Functioning of the European Union, Article 127 (1). Yet prices in the Eurozone have been very unstable in the past years. However Germany has seen strong signs of improvement, but t this could actually hamper the rest of Europe’s growth. The CPI measure of inflation is rising at an annual rate of 2. 2%. That's not as high as the UK, but it's above the European Central Bank's (ECB) target for the first time in two years.As Germany is the most important and influential economy in the Eurozone when it comes to setting monetary policy, it means the ECB will have heavy pressure to raise the base rate this year, regardless of how the rest of the region is performing. Which is ironic as when the euro was introduced the base rate was set to a level to suit Germany’s sclerotic (rigid and unresponsive) economy that was still dealing with reunification. But the cheap money turned the strongly-expanding countries, such as Ireland and Greece, into smaller and floundering economies.The UK has operated a free floating exchange rate since September 1992, meaning The Bank of England has not intervened in the markets to influence the Pound’s value. This means that the Exchange rate is purely market determined which leads to many fluctuations, just in the period from August to January displayed in the graph below. A floating rate can be a tool of macroeconomic adjustment – for example a depreciation in the Pound should increase the net export demand and therey stimulate growth.However the BoE would hope the gains from a lower exchange rate are not dissolved in the inevitable higher wage demands or export prices. The countries inside the Euro Zone are hoping for a more competitive exchange rate to create an injection of demand into their struggling economies. Floating exchange rates offer a degree of adjustment, so as is the situation now a large trade deficit puts downward pressure on the exchange rate which will help the export sector and control the demand for Euro’s to Pound Sterling imports as they become relatively expensive.Having no exchange rate target means that short term interest rates can be set to meet domestic macroeconomic objectives such as growth or low inflation. However with a floating exchange rate there is less currency stability which can discourage Date (2010-11) Source x-rates, composed on excel trade and investment, this is one of the reasons why currencies were locked within the Euro Zone for the Euro. Any changes in the prices of imported goods and services will have a  direct effect  on inflation. The Euro is also a floating exchange rate, meaning it’s fluctuations in relation to the UK have considerable affects.An appreciation of the exchange rate (as there has been in January against the Euro) reduces the sterling pric e of imported consumer goods and durables, raw materials and capital goods. The effect of a changing currency on the prices of imported products will vary by type of import and also the  price elasticity of demand  which is affected by the degree of competition within specific markets. All companies will be affected by these policies, both UK and abroad, and easyJet is no exception. The current price of jet fuel is â€Å"$897 a metric tonne compared with $681 a metric tonne a year ago†, easyJet stated in January 2011.This increase in fuel tax and price will cost easyJet ? 1. 17 extra per than in 2010, and is expected to double the losses of the company to approximately ? 140 million, as it will for all companies in the airline market. As for the VAT rise, easyJet have announced they may be able to save millions of Pounds in VAT by registering its new budget holiday company outside Britain, with Lowcost Travel, expected to be in Switzerland. This means they will avoid VAT under the Tour Operator’s Margin Scheme. This could save easyJet ? 0 million in VAT for the next three years. Most European markets saw losses or declines in January with concerns that China will raise interest rates again to slow down economic growth in Europe, and easyJet suffered alike with a fall of 16. 19 percent in the FTSE250 after they predicted heavy losses in the first half of 2011. easyJet announced in January 2011 that it, as all other airlines, was hit by the severe weather in Europe in December 2010 and strike action by French air traffic controllers, coupled together this cost easyJet ? 31 million,. asyJet is also set to close its cut services at Luton Airport by a fifth (which sees 5 million passengers each year) with a view to transferring them to profitable bases in continental Europe. The airline also initially price flights from European destinations in Euros, but customers can choose an alternative price in sterling. However, the price in sterling is set at a lower rate, this is because easyJet decided not to use the Mastercard or Visa rates that the most retailers use, and instead set the interest rate themselves – at a much lower level.Generally the difference between the actual exchange rate and what easyJet offer can be anywhere between 2% and 6%. This generates a lot more income for easyJet by exploiting the exchange rate at the right time, yet it can been seen as a hidden cost, which would not impress easyJet’s customers, and in the long run could actually lose them customers. Elasticity of demand measures how a change of the quantity demanded is affected by an income or price of another good change.As the airline market demand is elastic businesses must be careful with changing prices and must be sure that by decreasing their prices they are still able to increase their market share. easyJet have achieved this, by coming in with very low prices and gaining market share. Another problem facing easyJet is that pas senger duty tax increased from ? 10 to ? 11 in November 2010, which again cost easyJet millions. However, despite these setbacks, the airline said revenue in the final three months of 2010 â€Å"was up 7. 5% to ? 54 million compared with the same period a year ago†. easyJet announced in November 2010 that profits have been â€Å"boosted by a rise in passenger volumes and the group said it will pay its first ever dividend in 2012†, the airline’s chief executive, Carolyn McCall, said â€Å"We therefore intend to commence the payment of an annual dividend based on a dividend cover of five times. † The airline said passenger numbers grew 8% in the full-year to the end of September to 49 million, while profits totalled ? 154 million in the period – against ? 55 million a year earlier. asyJet’s have continued to strengthen with â€Å"market share gains across Europe particularly London Gatwick, Paris Orly (easyJet grew capacity by 22% in France i n 2010) and CDG and Geneva† (easyJet corporate reports, January 2011). Additionally in response to growth in Germany, easyJet carried on refocusing its offering, and increased capacity on key business routes out of Berlin. The total fleet plan over the period to 30 September 2013 is as follows: | easyJet A320 family| Boeing 737-700| GB Airways A320 family5| Total aircraft5| At 30 September 2010| 182| 8| 6| 196| At 30 September 2011| 202| 2| –| 204|At 30 September 2012| 214| –| –| 214| At 30 September 2013| 218| –| 2| 220| Note 5: Four ex-GB Airways A321 aircraft exited the fleet in November 2010. Source: easyJet corporate reports, Jan 2011 By eliminating the Boeing and ex-GB Airways sub-fleets it will reduce costs by simplify operations. easyJet plan to complete this by 2012 and they project cost savings of around ? 30 million each year. They are also set to work with the EU on consumer rules to make sure that they have the right balance between the benefits that low costs brings to consumers over its costs to the industry.The air traffic control strike in 2010 was caused by the economic pressures facing Europe and union concerns about the Single European Sky programme, and easyJet â€Å"expect disruption to continue in 2011† and â€Å"will press for measures to be put in place that alleviate the impact of these strikes and push for faster reform. † (easyJet corporate reports). There has recently been a saturation in the European and UK airline market. Competitors have mimicked easyJet’s strategy and have introduced competitive brands with similar price strategies that have increased competition, and decreased market share.The airline market is best classified as having a monopolistic competition market structure, whereby there are many firms will similar, yet differentiated services. Some companies have contrasting services; easyJet and British Airways for example, one with a strategy to keep costs as low as possible by stripping out almost all non-essentials of air travel (ranges in class etc) and one, BA which offers a higher level of service with a higher cost. It also has many business with similar plans and ideas; easyJet and Ryanair for example.The Herfindahl Hirschman Index (HHI), which measures the degree of competition in one market for the airline market, and is 0. 070210776 (see attached excel document for details). This means that the market is unconcentrated; this indicates that the market is unlikely to have adverse competitive effects, as no companies have a monopoly power. In conclusion, the fiscal policy employed by the coalition Government will have long reaching affects across the economy, including the airline market.It will also have drastic affects on the population, with many tax rises; VAT and fuel in particular, which will reduce the level of net income for all households. However the rise in the National Insurance threshold will be very positive for the low er income households. As for businesses, the reduction in corporation tax over the next four years will be a welcome policy, yet almost all companies will be affected by the rise in fuel tax, particularly the transport market – easyJet.The Bank of England will soon have to look further into raising the base rate, the historically low level of 0. 5% will not help any savers (although it helps those with large mortgages, loans etc. ), and when they decide to raise the rate it can help combat the continually increasing level of inflation. The exchange rate is left as a free-floating, which it will be for the foreseeable future. This is like almost all countries, so the market controls currencies, which will periodically rise and fall, and deal with the level of imports and exports and their competitiveness. asyJet will undoubtedly suffer great losses due to the fuel rises, which are expected to continue to rise as oil becomes a more scarce resource the supply falls – whic h will increase the price. They have plans to deal with VAT, and are looking to cut any unnecessary costs across the board to cope with these rises. The further strikes planned by the ATC for 2011 will again cost easyJet millions, but they believe they will be better equipped to deal with these problems.Any unpredictable, or problems outside their control, snowfall of December and the Icelandic volcanic ash clouds will also cause considerable losses, yet there competitors (and imitators) will see similar losses so it will be highly unlikely that easyJet become less competitive as the airline market continues to combat numerous problems. References Financemarkets. com HM Treasury Budget The European Central Bank website The Bank of England website The easyJet annual, and corporate reports Tutor2u The Institute for Fiscal Studies tradingeconomics. com x-rates. com The Economist