Do Family Friendly Policies Hurt Men?

But as companies add these benefits, some male employees ( and some childless women as well) have complained that the company Is spending money on benefits that flow to some workers at the expense ( at least theoretically) of others. Some men have even complained that fathers don't get assistance with child care or an opportunity to bring their babies to work. In fact, In the united States, companies do have to extend the same benefits to fathers as to mothers (except, of course, that if a mother is disabled after childbirth, she is the one who gets the usability benefit).But men note that it is women who are more likely to use these benefits, even though studies show that men are experiencing more work- life conflict than male workers did a few decades ago. And as more pregnant women stay on the job, the disparity is as obvious as the bulging bellies.The best way to distribute the cost and benefits of flexibility is to offer to every employee that may need it. Also the ones who It d on't need the benefit of flexibility, give them a longer break for lunch or give rewards to keep the employees up to speed. 2. Do employee benefits have to be used equally In order for them to be fair or ethical? Why or why not? If you were In the HER department of a company where some employees were unhappy about this Issue, how would you recommend that the many address It?Now if I understand this right, I believe that if the benefits were equally given to all employees and not just women with children, I believe this would be fair and ethical. Instead of being equally used, I believe all the employees should have access to all the benefits of the company. If I was in the HER department, I would say that all the TTS snow a De offer to can employee. ASK around Ana get ten employees involved and see what is most needed. Finally, find ways that would benefit both men and women.

Critical Thinking Question Essay

1. Explain the differences between bacterial meningitis, aseptic meningitis, fungal meningitis, and tubercular meningitis. Bacterial meningitis is a primary infection of the pia mater, arachnoid and subarachnoid space, ventricular system and the CSF of the brain. The subarachnoid space is accessed either by a systemic, bloodstream or direct extension infection. Common causes of bacterial meningitis after the neonatal period are Meningococcus (Neisseria meningitidis) and pneumococcus (Streptococcus pneumonia). For neonates, pneumococcus and gram-negative enteric bacilli are common agents. Aseptic meningitis (viral meningitis, nonpurulent meningitis, lymphocytic meningitis) is an inflammation which is thought to be localized to the meninges. The population at risk depends of the virus. A variety of symptoms are caused by a plethora of viruses such as enteroviral (most common), mumps, herpes simplex types 1 and 2,, St. Lus encephalitis virus, West Nile virus, California encephalitis virus, Venezuelan equine encephalitis, Colorado tick fever, lymphocytic choriomeningitis virus, Epstein-Barr virus, and influenza virus types A and B. Fungal meningitis is a chronic, much less common condition than bacterial or viral meningitis. It most frequently occurs in persons with impaired immune systems or those with altered normal flora. Development is insidious and usually occurs over days to weeks. Also associated with chronic meningitis are syphilis, tuberculosis and Lyme disease. Tubercular meningitis is the most common and most serious form of CNS tuberculosis, and is found mostly in those with acquired immunodeficiency syndrome (AIDS). Miliary tubercules form in the brain and meninges, later eroding in the pia mater with mycobacteria entering in the CSF producing a hypersensitivity reaction which causes purulent exudate to the basal meninges, cerebrum and spinal nerves. Vasculitis occurs causing cerebral ischemia and infarction. Symptoms include headache, low-grade fever, stiff neck, nausea and vomiting, irritability, difficulty sleeping and fatigue. These signs and symptoms lead to increase to confusion, stiff neck, significant behavioral changes, and seizures. Additionally, hydrocephalus and cranial nerve palsies or cerebral infarcts may occur. Early diagnosis and treatment with proper antituberculosis may cause a 90% recovery rate. 2. A neonate has a harsh, loud, systolic murmur shortly after birth. This is best heard at the left lower sternal border. The neonate is acyanotic and has no other symptoms. What type of congenital heart disorder does this infant have? Explain why the neonate is not cyanotic. When could the infant become cyanotic? These symptoms describe a ventricular septal defect (VSD). This type of defect is a left to right shunt of blood flow through the septum of the heart and symptoms depend on the size of the shunt. Because of the increase in blood from the right ventricle (RV) into the pulmonary artery (PA), the PA, left atrium (LA) and left ventricle (LV) become enlarged. A large VSD causes a large amount of pulmonary volume. Over time, the smooth muscle layer of the arteriolar wall thickens and a decrease in diameter of the pulmonary vessels occurs which causes resistance to the new blood flow. An increase in pulmonary vascular resistance causes a reverse shunting through the VSD causing cyanosis from deoxygenated blood flowing through systemic circulation. This phenomenon is termed Eisenmenger syndrome. 3. How does defective gastric secretion of intrinsic factor (IF) cause anemia? What is this type of anemia called, and how does a person get it? Intrinsic factor (IF) is a mucoprotein that is produced by the parietal cells. It is responsible for absorption of vitamin B12 in the ileum. Decreased amounts of IF causes a lack of absorption of B12 resulting in pernicious anemia. IF deficiency may be congenital or from adult onset gastric mucosal atrophy and parietal cell destruction. In older adults, failure to absorb IF is the cause of almost all vitamin B12 deficiencies. Congenital IF disorder is caused by an autosomal recessive inheritance pattern which is a genetic disorder. Gastric atrophy may be autoimmune and occurs along with type A chronic gastritis. 4. Discuss the pathophysiologic relationship between cirrhosis and portal hypertension. Cirrhosis is an inflammatory disease of the liver that disrupts its structure and function. Fibrous bands are formed causing nodular regeneration giving the liver a bumpy appearance. The liver is smaller or larger than normal and is hard when palpated. Parenchyma of the liver becomes distorted and the biliary channels become obstructed causing jaundice. Shunting is formed in new vascular channels bypassing blood from the liver. Obstruction in the portal veins also causes abnormal high blood pressure in the system from resistance of the blood flow from the obstruction. This is termed portal hypertension. Cirrhosis of the liver is the most common cause of portal hypertension.

Deeveloping a Comprehensive Marketing Plan for Emirates Airlines Term Paper

Deeveloping a Comprehensive Marketing Plan for Emirates Airlines - Term Paper Example A marketing-mix to support the alternative strategy for the airline has been provided. Implementation of marketing plan and its importance during emergency have well been described in the report. Table of Content Emirates Airline 6 Emirates Current Marketing Strategy 6 SWOT Analysis 7 Strength 7 Weakness 8 Opportunity 8 Threat 8 Competitive Environment Assessment 9 Porter’s Five Forces Model 9 1.Threat of segment rivalry 9 2.Threat of new entrant 10 3.Threat of substitutes 10 4.Bargaining power of Suppliers 10 5.Bargaining power of consumers 11 Marketing Issues and Alternative Strategy 11 Rationale for the alternative choice 12 Marketing-mix Strategy to support the alternative 13 a)Product: 14 b)Price: 14 c)Promotion 15 d)Place: 15 Marketing Plan 16 Reference 18 Bibliography 20 Emirates Airline Emirates Airline was founded in the year 1985. It started its first flight from Dubai which is also the Headquarter for the Airline Company. The main objective and goal of the Airline h as been delivering service with world class quality and it has succeeded doing so in its journey of more than 25 years. Emirates Airline has emerged as a global Airline with its presence across 6 continents and above 60 countries and 120 destinations. The Airline has over  170 aircrafts in its fleet. Emirates have carried more than 30 million passengers and over 1 million tons of cargo (as per 2010-11) (Emirates, 2012). Emirates Current Marketing Strategy Emirates Airline current marketing strategy is largely based on its positioning itself as a global player with high quality service. Starting as a small airline company Emirates today has become the global leader and is reckoned as the best airline company in the world. Emirates have become innovative, customer-oriented and a modern airline company which provides world class service. Emirates Airlines strategy is based on leadership attribute that makes it a true global player serving the consumers across different continents. Em irates focus have always been customers and their travel experience have made Emirates the winner. The airline has made the travel more affordable and comfortable. The importance of customers is well understood by Emirates and this very reason the company strives hard to provide them value for their travel experience. Sponsorship has played a pivotal role as part of the company’s marketing strategy to establish itself as a global player. Every time Emirates explores new route it promotes itself through various media. Emirates Airline opts for sponsorship events which draws worldwide attraction. Emirates sponsorship features events in football, rugby, cricket, horse racing, etc. The biggest highlight of Emirates sponsorship deal includes the Arsenal Football Club, FIFA World Cup, Rugby World Cup, etc. SWOT Analysis Strength Emirates Airlines offer booking facilities over internet with numerous choice and other value added services. Emirates have been the first airline to offer such facilities to its customers. Apart from this it also offers facilities like self-check at the airports. Emirates are also amongst the airlines which offer long-haul flights to destinations such as Houston, San Francisco, Dallas and Los Angeles. Emirates Airline is amongst the airlines having youngest fleet of aircrafts. Weakness Emirates Airline is known for its luxury which is the reason for middle class families not being a part of the company. High invest in purchasing new aircrafts has increased the

Anonymity and Abuse on the Internet Essay Example | Topics and Well Written Essays - 1500 words

Anonymity and Abuse on the Internet - Essay Example The issue of anonymity is one that has posed a number of concerns for the people who use the Internet because there are so many individuals who hide their identities and therefore pose as imposters (Saco 2002). Similarly abuse is another aspect that has come to the fore with the passage of time. Abuse means that the users of the Internet are being blamed and cursed for no mistake of theirs. It also means that the individuals who are using the Internet are being treated in an unfair manner. This is an important tangent that needs to be resolved in a proactive fashion and should be taken care of in a quantifiable capacity. Anonymity and abuse over the Internet are some of the most pressing issues that need to be analyzed and understood in a proper way. This is because the repercussions for the same are immense and the magnanimity of these could be estimated with the passage of time. The different software and programs that are used over the Internet have been effective at outlining the issues and problems which have come to the fore (Mclean 2002). One should believe that anonymity and abuse over the Internet remains a problematic area that must be understood within the proper contexts (Cowan 2004). If this is not done in the most righteous way, there could be serious consequences for the people who matter the most within the related settings. These could include the users who are browsing over the Internet, the ones who frequent social networking websites, blogs and so on and so forth.

No chosen yet (sociology) Essay Example | Topics and Well Written Essays - 750 words

No chosen yet (sociology) - Essay Example Oneida community is a religious commune founded in 1848 by John Humphrey Noyes. This organization practices communalism where the members practice communal labor in which men and women have to work together and become an engaging community. Not only labor did members come together but in almost any occasions. Members likewise participate in enjoyment and self improvement thus they are not left in solitude. How the community worked and lived together in a â€Å"Mansion House† painted an unusual picture of a rich and happy community. Complex marriage is also practiced where in men are married to every women and women are married to every men. Other practices of the community include mutual criticism and ascending Fellowship. After many years of existence, the community later transformed into a capitalist enterprise known as the Oneida community, Ltd. (Olin, 1). Today, Oneida’s â€Å"Mansion House† serves as a tourist attraction. The Church of Scientology is another organization founded by Lon Hubbard with the goal to promote scientology. Under the organization are several separate incorporations with their own local boards, executives and directors responsible for the activities of each corporate and ecclesiastical. Members are taught that people are immortal spiritual being who have forgotten their own nature. In addition to this teaching, the organization believes that the experience of man could be extended beyond a single lifetime with unlimited capabilities. Thus they believe that events in the past affect the present limitations. Furthermore, they consider that man is good who seek to survive. However, his survival depends on him, his fellows, and his attainment of brotherhood in the universe. They also practice giving study materials and auditing course but with a corresponding donations. Just like Oneida, the Church of Scientology has its own controversy. Many believed that it operates as a cult and as a commercial enterprise. The Mor mons is founded by Joseph Smith in 1820. The name Mormons refer to the followers and their religion Mormonism. This cultural group is a form of Christian primitivism where other small independent denominations were based. The movement seeks maintain doctrines that supports the practice of polygamy. The members share a common belief with the Latter day Saint movement where they adopt teachings from the Bible especially the old testament, other religious texts, Books of Mormons, doctrines and covenants. The movement also accepts the Pearl of Great Price as part of their canon. Mormons believe in the Living Christ and the importance of eternal marriage. The Jehovah witness is founded by Charles Taze Russell in 1870’s with members that is over 18 millions. Jehovah base their teachings solely from the Bible however they have they own translation that they prefer to use. They believe in the destruction of the earth which they refer to as Armageddon. They claim that the only solutio n to all problems of human kind would be the establishment of the Kingdom of God. Jehovah witnesses are known for several activities. They are the religious group distributing The Watchtower and Awake magazines. They are known for their door to door teaching of their translated Bible, the New World translation of the Holy Scriptures, and are known not to accept military services and blood donation and transfusion. These religious organizations become a sociological interest because some of their practices are considered bizarre by

What will happen to Iraq if the US leaves Essay

What will happen to Iraq if the US leaves - Essay Example One of the most important events in the current world affairs is the invasion of Iraq by the US and there have been several essential voices arguing that it is high time for the US to leave the region to set the Iraqis free to pursue their political and economic destiny. Critics who regard the invasion of Iraq by the US as a serious offence against the freedom of that nation argue that America needs to establish normalcy in the region before they leave the land. "No one can say with confidence what will happen in Iraq if the United States leaves precipitously and without making a continuing effort to compensate for its mistakes and failures. It is easy to talk about intensive civil war, 'blood baths', and an international resurgence of al-Qaida. Such worst cases are possible, but the most likely result is less violent sectarian and ethnic cleansing, and the de facto division of much of the country." (Cordesman and Davies, 2008, p 737). Therefore, the most essential question in the pr esent context is not whether the US invasion of Iraq is justifiable or not, but what happens if the US leaves Iraq all on a sudden. In this paper a careful and reflective analysis of this essential question concerning Iraq's future if the US leaves the region is conducted and the discussion in this regard not only is vital to an understanding of the political system in the US but also to an understanding of some of the most important world affairs as well as affairs in the Iraqi region. In a careful analysis of the current situation in Iraq, it is essential to comprehend that there are several benefits if the US army stay longer in the region. People, who consider that going into Iraq was a big mistake committed by the US, are greatly concerned about what will happen when USA leaves Iraq. To most of them, it will be foolish to consider that the Iraqis are able to defend themselves against all the issues in the country and the region. First of all, there will be great chaos in the nation and the region if the US leaves immediately. Although there are people who argue for the rapid withdrawal of the US troops from the region, on the basis of the unfortunate developments precipitated by the US invasion of Iraq, it is not logical for the army to leave the region before the Iraqi security forces are self-sufficient. Such a rapid withdrawal of the US troops will inflict long term damage on US credibility and ability to deter enemies and would facilitate the objectives of the al-Qaeda. "In Iraq, the United States has demonstrated that it will stand and fight in the face of adversity when it believes that its core interests are at stake. US determination in Iraq has done much to counter previous jihadists' perceptions of the United States as a 'paper tiger' If the United States leaves prematurely, these gains will be lost and Iraq will join Vietnam, Beirut, Aden, and Somalia in the jihadi mantra regarding US weakness." (Forest, 2007, p 47). Apart from these, it is also argued that some of the powerful leaders from within Iraq can emerge in the nation, take over the government and eventually result in another dictatorship. Also there is a possibility that Iran will invade Iraq and take over it if the US leaves the region all on a sudden. There is a serious argument that "Iraq will become a terrorist haven if the United States leaves." (Preble and Logan, 2005). Reports from the Baghdad confirms that the US withdrawal from the region can affect the norma lization process of the country and "Iraq's foreign minister warned that a quick American military withdrawal from the country could lead to a full-scale civil war, the collapse of the government and

Designing Clinical Research Assignment Example | Topics and Well Written Essays - 8500 words

Designing Clinical Research - Assignment Example As it is indicated these journal entries are records of ongoing events, and in as far as my journal is concerned, this will not only reflect the account of my activities, these will also include my emotions and beliefs, records of my personal interactions, my interpretations of information and academic reading, and I hope my beliefs on these topics will be reflected in these journal entries. Conceptually, if there would have been no problems or questions, there would have been no need for research. This means for every research there would be an inquiry, which is an attempt to confirm existing knowledge or seek new knowledge grounded on the old one. Seeking knowledge in different forms is human nature. Of course there will always be some people who will accept any information without question. However, some will ask questions to express disbelief, show discontent, corroborate information, or to seek new knowledge. This is only possible if people question the existing, not satisfied with the existing. Polit and Beck (2007) referred research to be a systematic inquiry. This means if one desires to question something systematically, he has also responsibility to frame a disciplined method to corroborate or refute information or findings. If existing knowledge on any subject is found to be inadequate or inaccurate, then a properly designed research question is the only way to access, derive, develop, refine, expand, or establish new knowledge (Polit and Beck 2007). It has been stated that this question would hint to the research problem, and in this way research questions actually sets the stage of the research. Thus the specific questions regarding unexplored area of study is important in that these designate the areas that a researcher plans to systematically investigate further through a disciplined process and method. This indicates research questions are notations of inquiry to explore the research problem. Research questions would also specify the purpose of the study addressing the problem further. These statements conform to the reading from the first chapter of our text and relevant discussions on how to conceive a research problem. In fact while reflecting on this, I found that actually conceptualizing research questions can give us directions of research. In that sense, the scientific, healthcare, or medical research that I had come across can lead to many new research questions, since all research articles I came across have limitations, and there are many unanswered questions in all studies. Although many studies come to an acceptable conclusion, I think almost all studies indicate further research based on the remaining research questions or new questions based on that research. Thus I feel all research accounts despite adding new dimensions of knowledge pose new research questions which can be the beginning of a new research and hence now avenues of advancing knowledge, and this may in itself, be quite exciting. Hulley et al (2007) recognize precisely this distinction between the "anatomy" and the "physiology" of research. The anatomical part of research (for the authors) includes all of the technical aspects of research that are

Graffiti Identification Essay Example | Topics and Well Written Essays - 1500 words

Graffiti Identification - Essay Example Graffiti have been an issue of concern to the members of different communities because of their impacts. There are positive impacts but the negative impacts have been found to override the positive impacts. Graffiti can be traced back to Ancient Greece and the Roman Empire. Today, most of those who do graffiti do it on the subways and walls of big cities and vehicles among other areas. Most of the sharp instruments like pencils, marker pens and even knives serve as mediums of creating graffiti. Many people have had the mentality that areas with graffiti are unsafe. According to Morgan and Louis (2009), the term graffiti refers to informal marks, scratching, carvings, drawings or even paintings made on people’s property without their authorization. Graffiti is of different kinds and each kind has its particular characteristics. For example, Hip hop graffiti has a characteristic of mural paintings and ‘tagging’. Graffiti has often been criticized as causing negating impacts to the community, and it is very difficult to convince some of the people otherwise. However, what should be understood is that there are positively motivated graffiti. The following are some of the positive impacts of graffiti: 1. Promotes young talent: Most of the time, graffiti have been seen as causing a lot of damage to the community. However, it is one way of promoting the talents of young people. Graffiti has been seen as inspiring to young artists since they get the opportunity to show case their creative sides. For example, South Ayrshire’s community safety partnership has helped young people from the town of Wallacetoun on a graffiti project (South Ayrshire Council, 2013). 2. Conveying a message: Some kinds of graffiti have been used to convey messages, especially to the authorities when people are not happy with their administration. Graffiti is used as a peaceful way of demonstrating. It has been seen to provide people with a platform to participate in pu blic conversation or debate (Morgan & Louis, 2009). They can also be used to communicate messages of road safety and show the commitment of people involved in the art. 3. Improvement of abandoned buildings in the community: Unused buildings and underpasses tend to improve when graffiti are drawn on them. This is achieved when good quality and non-offensive graffiti is used to brighten areas that have not undergone renovation for a long time, thus improving the environment around them (Campbell, 2008). Negative Impacts The following are the negative impacts that have resulted from graffiti: 1. It is expensive: It has proven very difficult to estimate the cost of graffiti in general; however, there are different ways that show that graffiti is expensive to the community. The cost that comes in with cleaning graffiti from the walls is very high (Morgan & Louis, 2009). Thus the community might spend a lot of money that would have been channeled to better projects, in

The study of physics has had Essay Example for Free

The study of physics has had Essay Introduction The study of physics has had a large impact on the development of road safety. The study of Newtons Laws, impulse and momentum help to reduce initial momentum or decrease impulse (rate of change of momentum) to protect passengers. Technological advances and studies of vehicle crashes increase the automobile industrys understanding of the forces involved and ways of reducing effects of collisions. Within vehicles, many car safety devices are installed, such as seat belts, air bags, crumple zones and head rests. Modern road design reduces the initial or rate of change of momentum and consequently the impact of collision through crash barriers, speed zones and speed humps. Car safety devices Seatbelts Seatbelts are designed so that passengers are restrained instead of continuing to move forward at the cars speed when the brakes of a moving vehicle are applied. In this situation, there is a tendency for a body to resist changes to its motion, called inertia. (Newtons first law) The stopping force is applied to the more durable parts of the body such as hips, chest and shoulder. This is instead of the human head crashing into windshield if no seat belt is worn. Inertia reel seatbelts Inertia reel seatbelts have a cylinder that stores extra belt material on a spool. The spool turns freely normally for movement. In the event of a sudden change in velocity, a pendulum in the reel plunges forward to lock and restrain the occupant. It is named inertia reel due to the inertia of the pendulum to cause belt locking. Different types of seatbelt The lap seatbelt is tightened over the pelvis and absorbs force over a sizeable area. However they do not prevent the head and upper body from lurching forward in response to deceleration and are inadequate especially for front passengers, who risk hitting the windscreen. The lap sash seatbelt combines a lap seatbelt over the pelvis as well as over one shoulder across the chest. This greatly limits movement of the upper body and head as well as spreading the stopping force over a larger area. Shoulder harnesses restrain upper torso movement even further. Two are belts fall over the shoulders and an optional strap lies over the sternum. It is effective in the way force is spread over both shoulders compared to one shoulder in lap sash. Shoulder harnesses are usually used in child restraint systems and racing cars. The nylon webbing material in seatbelts is slightly flexible so that the stop is not as abrupt. Airbags Airbags provide an extra degree of protection in a collision by cushioning passengers in a collision, greatly limiting fatalities and serious injury. They are designed to increase the time interval during which the drivers momentum decreases in a collision to decrease the net force of the driver. They inflate when crash sensors detect large deceleration. Sensors then ignite the sodium azide, producing sodium compounds and nitrogen gas for a reactive explosion. The airbags inflate rapidly to cushion the impact of the passenger against the steering wheel, dashboard or windshield. Airbags are to be used with seatbelts, not as a replacement. A disadvantage of airbags is they provide no protection against side-on hits, only frontal collisions. More expensive cars are developing side airbags to combat this. Head rests Padded headrests provide protection in rear end collisions. When a car is rear-ended, a large net force pushes the car and it accelerates forward. The inertia, based on Newtons first law, pushes the passenger into the seat. Without a head rest for support, the head remains at rest until the spine pulls it forward. This sudden, sharp acceleration for the head causes it to fling back and results in hyperextension and whiplash injuries. Crumple Zones Many cars are designed to crumple at the front and rear. Crumple zones increase the time interval during which the momentum of the car changes during a collision, thus lessening the forces. Newtons second law (f=ma) can be applied, as increased ? time will result in a decreasing rate of deceleration a and consequently reduce force. Crumple zones are built using the integration of steel and fiberglass in the front and rear end assemblies of the automobile. Rigid structures between crumple zones protect the passenger compartment. In a collision, the crumple zones deform to slow the actual impact. The car doesnt regain all its original kinetic energy, as some of this is converted to heat and sound energy to reduce damage to passenger area through smaller forces. As crumple zones are placed in strategic locations, the collapse is controlled and energy from impact is directed away from passenger area. Road design Speed humps and low speed zones. Local councils introduced Speed Humps to reduce the overall speed of cars. Evidence shows that slower moving cars cause less damage to occupants if a crash results. It has been estimated that risk of death or serious brain damage doubles with every 16km/h over 80km/h. Speed humps restrict drivers from speeding as hitting the hump too fast can cause car damage. Low speed zones also reduce the speed of cars. A reduction of speed will reduce the chance of an accident as drivers have more time to react as well as decreasing the change in momentum and associated inertial forces in collisions. The police enforces speed signs and limit zones and speeding is monitored by speed cameras. In NSW, the general urban limit is 60 km/h for roads in built up areas where there are pedestrians. Crash Barriers Crash barriers are road design features that absorb the impact of collisions. They are constructed out of steel, concrete or wire. Some types of rigid crash barriers cannot absorb much of the kinetic energy of the vehicle, but keep the vehicle on the road and prevent crashing into more dangerous roadside hazards or cars from opposite direction. Crash barriers should be relatively weak with energy absorbing structures so that they can deform easily and transfer large amounts of kinetic energy to them in collisions. For barriers shielding against hazards such as trees, they need to be a fair distance away, as space is needed for it to deform. When a vehicle collides, the barriers deform and stop the vehicle through a plowing action, keeping the reaction forces relatively low. The impulse (change in momentum) is reduced, as the vehicle takes longer to slow down. The disadvantage of crash barriers is they may cause vehicle damage (crumpling) and rigid ones may deflect a car into the opposite lane. The advance of road safety The development of vehicles with greater size, power and momentum has resulted in the need for improvements in car safety devices and modern road design. The study of physics has allowed safety features in both the interior and exterior of cars to prevent large forces acting on passengers in collisions. This is why researchers and engineers are continually turning to laws of physics for advice. Road design features reduce initial velocity to reduce the risk of accidents as well as its impact on the passenger. Automotive safety companies are continuing to develop devices to improve vehicle safety, including inflatable seatbelts, 4-point seatbelts and knee airbags to name a few. With the large percentage of the population driving forces, momentum, impulse and energy are all factors that must be controlled as our lives depend on it.

The current financial and economic situation Essay Example for Free

The current financial and economic situation Essay During my analysis of the current financial and economic situation, I uncovered how the effects of the situation are still being revealed. It is imperative to recognize that the situation is complex in nature and that is why we must comprehend how this dire situation came to be. We must also comprehend why we are seeing the consequences unfold, the various impacts of the financial bailout, and lastly how we might fix the situation. My research paper shall discuss in depth the effects of our ‘financial crunch’ on financial markets, such as on banks, credit unions, the stock market, the mortgage industry, and retail sectors. Because these key aspects of our culture have been negatively affected by the credit crunch, the middle class is feeling doubts about their capability to overcome this new harsh financial sphere that now exists. This paper shall carefully examine how the financial crunch has affected these individuals and thus the retail and sales industry. It shall also look at some top financial companies which require the bailout money in order to survive; for instance, Lehman Brothers, Bears Stearns, and AIG. Furthermore, we shall correlate how individuals unwittingly began to rely on credit as a means to obtain more expensive items that might otherwise be outside of their price range. In fact, we shall see that people began living beyond their means due to relying on credit versus cash purchases and this has lead to the financial mess that we are in today (http://www. economist. com/opinion/displayStory. cfm? source=hptextfeaturestory_id=11885697). In addition, I shall pin point key aspects of the financial bailout that were proposed to aid individuals in returning to their safe spending habits and thus aiding the financial retail markets. Our government is seeking to rectify the situation via the financial bailout and such governmental driven policies might in fact be essential for the development of new successful businesses and our infrastructure. The paper will need to distinguish if such policies and procedures can positively or adversely impact the financial and credit crunch situation that we find ourselves in. Towards the conclusion of the research paper, I will attempt to suggest how perhaps in hindsight we could have warded off this recession at an earlier time. My suggestions will holistically analyze how vital it is to see the â€Å"big picture† as a long term development and not simply focus on the short-term details of our dilemma. My in-depth analysis includes ‘re-valuing’ the American dollar, holding our politicians responsible for how they are spending or investing our tax dollars, absolutely educating people in how to stop relying on their credit cards for purchases, considering organic produce, and how â€Å"turning green† in the long run will be beneficial for everyone. Look more: problem and solution essay Our failure to tackle the beginning signs of the recession has indeed played a negative role in where our financial perspective lies today. Hopefully, the federal financial bailout that we find ourselves in having to come to terms will can help us learn from this experience and prevent it from occurring once again in the future. For these reasons the bailout became a pressing necessity (http://www. usnews. com/blogs/the-home-front/2008/10/3/5-reasons-the-house-passed-the-bailout-bill. html) What led to Our Current Financial Problems? The bottom line: It was the misuse of our money, risky endeavors of the mortgage and banking industry, and individuals turning to credit for the chance to procure non-essentials without paying upfront. Honestly, the true origins of this financial problem were due to being more careless with other people’s money than we are with our own money. This predicament was entirely supported by credit card companies and the mortgage industry seeking to make an easy buck. These entities were satisfied in granting high credit lines to individuals who they knew via trend and marketing analysis would be unable to pay their bills on time. This led to those corporations receiving millions based upon late fee charges and finance charges. As our public began to depend more and more on credit cards, they found themselves unable to surmount the incredible amount of debt that they had created (Velshi 16-18). Now with this situation, these individuals began to declare bankruptcy because they were unable to pay their bills and wanted the collection agencies to stop badgering them. This act was not something the credit card companies, banking industry, or mortgage companies had the foresight on how to handle. http://www. economist. com/finance/displayStory. cfm? source=hptextfeaturestory_id=11 885272 We saw that as prices rose, including oil prices, people were under pressure to meet their basic necessity payments, and began to make minimum payments on their credit debts. The fallout reflected in their credit ratings and scores dropping due to outstanding debts and responsibilities. This financial distress was seen early on by economists who were ignored businesses such as banking giants and mortgage entrepreneurs were busy making bucket loads of money. This was also shown in the economic bubble perspective, that consumer spending was slowing down because they were seeing their home values decreasing. The public had become used to the real estate market booming and decided to refinance their homes to lower their monthly mortgage payments. By doing this, they drew the equity out of their homes at the same time and spent this money in the retail industry. The retail industry saw such actions becoming common place and developed more lines of credit opportunities to compel people to get further and further into debt. The retail industry focused on charging late charges and finance charges to draw money out of people in this vicious cycle. The subprime mortgage industry and banking industries were similarly practicing unethical procedures. They used lax lending standards so they could make the most money as the home valued at higher levels and their return customers spent more to refinance to lower rates. When the introductory interest rates reverted back to the regular interest rates, individuals were faced with the impasse of either making their higher mortgage payments or trying to refinance on a home which they now owned more than it was worth. Such individuals were also weighed down with other debts, such as student loans, car loans, rising oil prices, increased costs in the retail sector, and the increase in the cost of living in 2001, which made it difficult to make timely payments. In the United States, we saw that home sales and prices fell sharply in March of 2007. Americans were also seeing high unemployment and the foreclosures began on homes. Overwhelming debt led to this severe economic situation and the recession that people were seeing. The stimulus and bailout is expected to help people face these problems. (http://money. cnn. com/2009/02/17/news/economy/obama_stimulus_meas_success/index. htm) For people overextended in their vicious debts, they now faced financial pitfalls as they had to select between making payments to debt collection agencies versus providing food for their families (http://news. bbc. co. uk/1/hi/business/7523234. stm). The Aug 7, 2008 article, â€Å"Home Truths: A housing slump helped cause the credit crisis. But its effect on spending may have been exaggerated† the Economist illustrates that when the housing bubble burst, new homeowners were suddenly faced with the opportunity to purchase homes at much lower prices. This made it more affordable for young Americans to obtain homes at lower prices if they could qualify through the banks. This article shows that for current homeowners and landlords, this difficult economic situation leads to them cutting back on their spending in order to overcome this â€Å"loss of wealth. † (http://www. economist. com/finance/displayStory. cfm? source=hptextfeaturestory_id=11885272) As this housing and mortgage bubble has burst it has also cracked the illusion that debt was the answer to obtaining more material items. We arrived at this recession because of lax loaning practices and standards. We can see that the financial sector cared about making money versus the right decisions about who to lend money to or even how much money should be lent. This is why the financial bailout has arrived. Historically we have seen that past causes of a recession can be either external or internal in nature. For instance, internal causes include high interest rates, high taxes, high spending, mistakes by the fed to curtail financial concerns, corporate fraud, and investor reluctance to invest. On an external front, some past causes of a recession include global stock market falls such as in Asia or Europe, wars, and other such financial mayhem in the world. Overall, opinions are often divided as economists tend to disagree about when and if we are in a recession but currently they all agree that our economy is in bad shape and it has been for some time. While they hesitate to say what has toppled our economy and caused stagnation, they are certain that a variety of facts has led to our current financial predicament. Both the internal as well as external causes have resulted in a global domino affect around the globes financial and retail spectrum. The best reference we have for this situation is the Great Depression were economists saw a sharp decline in international trade . During the Great Depression large businesses were unstable and the governement via the New Deal was charged with the task of limiting how much power businesses had and giving more power to labor unions. Regulations were put into place which increased the amount of taxes paid by large corporates which generated revenue for the government and helped the government lower trade tariffs which had caused international markets to sell less. As people decided to save more in the face of those economic hardships they wound up actually saving less because businesses saw retail expenditures drop. They then decided to balance out there budgets they needed to layoff workers. As the article, â€Å"Causes of the Great Depression Political Perspectves on Causes and Cures†, states, â€Å" The increased savings (reduced spending) †¦. contributed to price deflation, perpetuating the Great Depression†¦. Businesses, cut back on investment spending because they were pessimistic about the future†¦. (led to) less investment, fewer jobs, less consumption and even less reason for business to invest. † http://www. experiencefestival. com/a/Causes_of_the_Great_Depression_-_Political_Perspectves_on_Causes_and_Cures/id/4905687 Role of the Financial Bailout for Lehman Brothers, Bears Stearns, and AIG Lehman Brothers: The nation’s 4th largest investment bank, Lehman Brothers, made poor investment decisions in its real estate holdings. Lehman Brothers, was one of the first investment banks granted the rights to borrow emergency money from Fed as a loan like commercial banks are allowed to. The true issue that arose with Lehman Brothers was that it was a insolvency risk (http://www. moneyweek. com/investments/stock-markets/what-went-wrong-at-lehman-brothers-03809. aspx). They had a large number of loans related to real estate and because such assets depreciated in value with the real estate market bubble burst, the face value of such properties was marked as a financial loss (Muolo 42-43, 143-144). When the company attempted to sell itself to Bank of America and Barclays, they were faced with their potential bidders requesting government support because they didn’t know the true scope of Lehman Brother’s financial losses. The Treasury department refused to grant this support, and both banks walked away from negotiations. After this occurred, Lehman was forced into filing for bankruptcy. (http://cbs5. com/business/lehman. brothers. crisis. 2. 816615. html) http://cbs5. com/national/lehman. brothers. shares. 2. 814040. html http://www. moneyweek. com/investments/stock-markets/what-went-wrong-at-lehman-brothers-03809. aspx Bears Stearns: Unlike Lehman Brothers, Bears Stearns was unable to get banks to lend money to them. As investors lacked confidence that the company could repay the prior loans granted to it, the reputation of this 5th largest investment bank faltered. The final element that led to its demise was that investors believed that the bank would be unable to adhere to the prior complex agreements that it had with the many other financial institutions that it did business with. Because such financial relationships with other banks was precarious and if the bank failed, those relationships could send a ripple effect through the economy the Federal Reserve was forced to agree to support JPMorgan Chase’s decision to purchase Lehman Brothers (http://www. usatoday. com/money/industries/banking/2008-03-17-bear-stearns-bailout_N. htm). The Federal Reserve agreed to â€Å" fund $30 billion of Bear Stearns assets that would be difficult to sell quickly, raising the possibility that taxpayers could be on the hook for part of the bailout†¦. As far as Wall Street securities houses go, Bear Stearns wasnt too big to fail, says Steve East, chief economist for FBR Capital Markets. (FBMC) It was too interconnected to fail. This collapse was the direct result of the bursting housing bubble. Society saw that home prices rose and fewer people could afford to purchase, so lending banks created new types of mortgages to qualify people who would not have qualified otherwise for the traditional 30 year fixed mortgage. These subprime mortgages allowed banks and brokers to charge fees for the closings which gave them substantial profits but no risk once the loans were sold to Wall Street. Investors, such as Bears Stearns, purchased these bulk complex securities packages and remained profitable on the interest generated from these packages. But when the housing market started to crash, borrowers became unable to refinance and select to default on their mortgages. With more defaults piling up, companies like Bears Stears were left with assets which were reflecting as devaluation. AIG The situation with AIG (American International Group) is a precarious one. As of Sept 16, 2008 this globally based company underwent a liquidity crisis due to its credit rating being downgraded; thus, AIG was forced to post collateral promises with its trading counter parties. When the company sold its CDS to meet collateralized debt obligations it endured a sharp decline in their value. The Federal Reserve was then forced to financially prop up the company so it did not collapse; which would have caused financial ruin for the global economy as other companies would have also collapsed. The Fed then created $85 billion in a secured credit facility for AIG, and took over 80% of AIG equity stake (Velshi 18). This bailout was by far the largest U. S. government bailout of a private company, but it was smaller than the bailout of Fannie Mae and Freddie Mac which occurred earlier in Sept 2008. After this occurred, the share prices of AIG fell more than 95% in value to $1. 25 from its prior $70. 13 per share. Investors found that AIG valued the types of securities that it held at Alt-A and its sub-prime mortgage backed securities at 1. 7 to 2 times more than the rates used by Lehman Brothers, the largest bankruptcy in U. S. history. The following month on Oct 9, 2008 the company forced to borrow an additional $37. 8 billion as a second secured asset credit facility initialized by the Federal Reserve (http://money. cnn. com/2008/09/17/news/companies/aig_explainer/index. htm? postversion=2008091715). The defaults for the next months were increasing steadily which shows that the company itself was facing a big collapse. Then on Nov 10, 2008 the U. S. Treasury heralded that it would be acquiring $40 billion in newly issued AIG senior preferred stock, under the power of the Emergency Economic Stabilization Acts Troubled Asset Relief Program. Federal officials indicated that its $40 billion investment in AIG would enable the government to decrease the total risk exposure to AIG to $112 billion from $152 billion (http://news. yahoo. com/s/ap/20090302/ap_on_bi_ge/aig_rescue). During this financial bailout mayhem, the public learned that AIG executives squandered bailout money at an exquisite California resort. This â€Å"vacation† using bailout money cost $444,000 and included spa activities, festivities, and golf retreats. In addition, these executives also used $86,000 on a hunting trip to England; this with the Fed giving them additional loans of $37. 8 billion! They also used $343,000 on trip to Phoenix Arizona for an exotic resort there. So when does this bailout money end! Attempting to sell their assets, AIG has been unsuccessful in paying off its government loans. With the global economy taking hits in insurance businesses, AIG is being protected by the Fed from falling into bankruptcy. This financial support by the government has lead to the Fed writing off some of its loans as losses and further devaluing the U. S. dollar. Recently as of March 2, 2009 AIG reported a 4th quarter loss of $61. 7 billion dollars for the last three months of 2008. This loss impacted Europe and Asian trading markets as well. Financial Problems and How the Financial Bailout is Hoping to Address Each Point: Effects Both Here at Home and Abroad †¢ Problem: increase in unemployment as companies downsize Bailout Solution: $39 billion will be spent on health insurance for the unemployed who can use this money to pay for cobra coverage or Medicaid. In addition $43 billion will be spent to enable them to increase their unemployment benefits and receive job training for new positions. †¢ Problem: credit tightening and lending standards inflexible Bailout Solution: rescinding the requirement that a $7,500 first-time homebuyer tax credit be paid back over time, and giving loans to companies and new procedures to ensure that lending continues so that student loans, car loans, etc†¦would be easier to obtain (http://www. washingtonpost. com/wp-dyn/content/graphic/2009/02/01/GR2009020100154. html). In addition, changes to how mortgages were granted occurred http://useconomy. about. com/od/criticalssues/a/govt_bailout. htm) †¢ Problem: retail industries closing as public demand decreases, and infrastructure concerns Bailout Solution: $31 billion: Construction and repair of federal buildings and other public infrastructure along with water projects and mass transit projects. For retail industries and small businesses the government will double the amount they can write off for capital investments and vital business related purchase. (http://www. glennbeck. com/content/articles/article/198/20639/) †¢ Problem: decrease in global expansion efforts and trade between countries which affects emerging economies which depend upon the U. S. and U. K. for big and small purchases and exports in order to continue growth and expansion Bailout Solution: n/a. If the U. S. economy can get back on track this would coincide with other countries being less impacted by our poor financial situation. †¢ Problem: failure of the mortgage and real estate industries due to being unable to aid individuals with in refinancing or making new purchases because banks are refusing to lend money Bailout Solution: aid to struggling home owners, but not listed in bailout bill †¢ Problem: growth projections declining from 4. 9% in 2007 to 4. 0% in 2008 Bailout Solution: $275 billion in tax relief ($1,000 tax cut for families, $500 tax cut for individuals through SS payroll deductions) along with $20 billion spent to increase the food stamp benefit over 13% so as to help ease the rising food costs. †¢ Problem: inflation increases in oil, commodities, and food prices and energy issues Bailout Solution: $32 billion is destined for funding a smart electricity grid in order to reduce waste, and $16 billion is geared for research and development on energy related work, energy tax cuts, and credits (http://www. washingtonpost. com/wp-dyn/content/graphic/2009/02/01/GR2009020100154. html). †¢ Problem: individuals recognizing that the federal and state governments are over extended in war funding and not tending to our financial crisis in a timely or appropriate manner Bailout Solution: efforts to bring troops home, but not listed in bailout situation †¢ Problem: value of the American dollar and reputation has turned drastically negative Bailout Solution: n/a. Efforts to fix our tarnished reputation but the American dollar is devaluing even more due to the bailout. †¢ Problem: Freddie Mac, Fannie Mae, Bear Stearns, and IndyBank also being key examples of financial companies which all required immediate aid from the federal government in order to collapse (http://www. imf. org/external/np/speeches/2008/032108. htm) Bailout solution: Continued support of such institutions to ensure that they do not fail How Should We Fix the Regulation? As voting citizens, we must should insist that the government account for its spending habits and they must be made responsible for spending more than it can obtain via revenue. For companies like AIG which receive bailout money and spent it frivolously on expensive resorts they must be held responsible and the board of directors held accountable or given jail time. The cost of war has also been unaccounted for, so our new regulations need to decrease the amount of spending on that front. As the bailout takes our hard earned money it needs to be used on improving transportation, education, medical requirements, and even social security. Poor lending standards and practices must be better regulated for those seeking to get good refinance rates or purchase new homes, cars, or even student loans. As we are seeing a sharp rise in unemployment and off-shoring of jobs, it is improper that businesses which hire individuals in the United States are forced to pay unemployment taxes; whereas, companies which elect to outsource their labor force are not required to pay these same taxes. This means such companies have more money in revenue due to the fact that they are paying their employees less overseas and adding to the unemployment that we see here at home. This action is counterproductive because from a financial perspective organizations might save more money by outsourcing and not having to pay the additional taxes, but it also means that unemployment will continue to rise in the face of such activity. A fair technique would be to increase the taxes on companies with large profits, and grant a fair marginal credit to companies which employ workers in the United States. This activity would put money back in the hands of American workers who can then turn around and use their paychecks in the economy and ease the financial crunch. This would also allow them to learn how to manage debt more practically and not take the equity out of their homes to pay debt off. I suggest that we better educate ourselves in managing our finances and saving versus running ourselves into the ground in insurmountable debt. References: Amadeo, Kimberly (2009). What Exactly is the Bank Bailout Bill. 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