Is India too soft to become a global power free essay sample

A global power can be defined as one which has the capability to influence global governance and is necessary to ensure a world order. United States, Russia, U.K., China and some others may rightly be called as global powers for their strategic and politico-economic leverage. Historical evidence suggests that these powers have not been soft at all in their course to power struggle. Softness may be defined as the opposite of assertiveness and activeness in this power struggle. It is a term often used to define Indian foreign policy. But, such a simplistic and overarching labelling does not take into account the historical perspective; the geo-political and economic imperatives. Though softness may be valid in the global sense, it can not be so regionally – where India is a regional power in South and South-East Asia. To determine whether India can become a global power in owing to its softness: a historical evaluation of India’s regional rise; the inherent paradoxes; its position on the international political landscape coupled with a contemporary global evaluation would be necessary. We will write a custom essay sample on Is India too soft to become a global power? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Regional Analysis The numerous wars fought by India with its neighbours Pakistan and China speak for itself. India has actively defended its territorial integrity while maintaining a regional order. The 1971 war to liberate Bangladesh from Pakistan is a testament to this fact. India’s continous intervention in Maldives’ and Nepal’s polity to check the autocratic and monarchic elements is another testament. It has strived to secure and safeguard the rights of minorities in Sri Lanka through political and military intervention, But, simultaneously, its passivity in the Afghanistan war in the late 1970s may well be noted. It is clear that India has a regional strategy and it is well placed in South Asia. But, its position has not been solely established based on political and military clout; economic clout also had a major role to play. Its softness or toughness in the geo-politics has little relevance today. For, its relations with neighbours has often suffered and soured. In fact, economic engagements are guiding and shaping the power relationships. Globally, however, the Indian strategy was different and so has been the outcome. Global Analysis India’s leadership amid cold war owing to its policy of Non- Alignment (NAM) has been commendable and is respected globally.But, non-alignment did not mean neutrality or isolation. India has intervened to safeguard peace and stop wars between cold war rival factions belonging to U.S. and U.S.S.R.. The intensive engagements with then newly de-colonized nations was conceived to promote an equitable world order. The idea of the New International Economic Order(NIEO) was one such endeavour. Though, it did not succeed but left a powerful impression on the global strategic discourse. Interestingly, India also tested Nuclear weapons in the 1970s and faced the wrath of the West by way of economic sanctions.. It did not sign, among very few nations, the Non-Proliferation Treaty(NPT) owing to its biases. These placed it as strategically independent and respected for its principled stand on issues. But, on many occasions India remained soft or passive. The military interventions in Yugoslavia, Iraq, the Iran wars and the growing U.S. hegemony were not opposed or challenged by India. In fact, it is often alleged that India subdued its NAM policy and sided with the U.S. on occasions. Reasonably, neither was India then capable enough nor was it beneficial to oppose the U.S. International politics has changed considerably since then and economic clout often defines the share in global power- not softness or toughness. Even though India has not been very active or persuasive on major contemporary issues relating to Syria, Iran and Egypt – it has taken a categorical stand on each of them. Its growing influence in international politics is discernible by the following. It has emerged as a major destination for global investment. Its rise has saved the world from  plunging into a deep economic crisis by spectacular economic growth- as evident in Europe and the West. Its membership of BRICS, housing 40% of world’s GDP and 60% of world’s population, gives it immense political voice. The global South( economic rise of southern nations and their growing cooperation) is one of the defining partnerships giving much-needed leverage to India. Thus, major global powers have supported India’s permanent membership in key insitutions as UNSC, Missile Technology Control Regime(MTCR), Shanghai Cooperation Organisation(SCO) and Asia-Pacific Economic Council(APEC). Moreover, India’s resolve to make the global economic and internet governance more democratic is backed by all developing nations. This cover reforms in economic bodies like IMF, World Bank, UNCTAD and WTO. Indeed, India fulfills major criteria such as demography(population), geo-strategic location and economic strength to undertake or lead such reform processes. Overall Strategic Analysis Thus, there can be little doubt that presently India is well placed in the global political and economic landscape. Its non-intervention in major contemporary issues or softness should be seen in the light of domestic imperatives and its foreign policy. India is grappling with several internal socio-economic challenges. Resolving them is its first priority, even though they are linked in some way to its international position. The diplomatic energy of India is often channelized to resolve these issues and thus little attention can be devoted to other global phenomena. Indian leadership at best attempts to shield India from such phenomena. For instance, the deposing of the democratically elected former President of Egypt Mr. Morsy, was not opposed vociferously by India, only condemned. But, the issues emanating there from such as political instability leading to potential oil price hikes has been taken care of by making alternative arrangements. Moreover, the leadership is well aware of non-softness in jeopardizing health  relations with nations, e.g. Sri Lanka and Pakistan. It is also well informed of the high-handedness of the U.S. in resolving global issues and its consequences. The U.S. often bears the reactive brunt of its actions without solving the problems it acted for. Afghanistan, Iraq, Iran and the recent potential strike in Syria exemplify this. These exacerbated the reputation and credibility of and trust in the U.S., especially in the case of Syria and Iraq. On the other hand, the balanced Russian diplomacy led the way for potentially resolving the conflict. It marks the win of sensible diplomacy. Conclusion It is well understood today in international circles that diplomatic and economic influence matter the most and not high-handedness or toughness. Experience shows that soft and tough/hard diplomacy are very subjective words with a temporal connotation. What is soft in the short-run may become the most robust stand in the long-run. Its opposite is also true that what is tough may not augur well. India’s foreign policy has thus been calibrated well with changing times, both regionally and globally. It must not be forgotten that not much time has elapsed since India’s independence. And, India’s position in just 66 years is satisfactory. It only needs to focus, as it has been doing, on domestic socio-economic imperatives and balancing them wittingly with global challenges and opportunities – just as China also did. This strategy has the potential to put India in the global circles of power- where soft in not always weak.

Famous Writerss Quotes About New Years Day

Famous Writerss Quotes About New Years Day The New Years holiday is all about reflecting on the year thats ending and planning for the year ahead. We gather with new and old friends alike, and make resolutions that may or may not last through January. One great way mankind has found to commemorate New Years Eve is by writing about the annual holiday, producing quotes like the ones listed below. As Sir Walter Scott puts it, Each age has deemed the new-born year // The fittest time for festal cheer, so celebrate your New Years by reading these  quotes from famous authors  like John Burroughs and Mark Twain, which explore everything from the time-honored tradition of making temporary resolutions to the importance of beginning each year - and indeed day - with a fresh outlook on life. Like T.S. Eliot says in Little Gidding: For last years words belong to last years language / And next years words await another voice. / And to make an end is to make a beginning. Quotes About New Years Resolutions The most popular tradition of New Years in the United States is that of making resolutions for the year ahead, promising oneself to eat fewer desserts or exercise regularly, only to break that promise a few months later as famously expressed by Helen Fielding in Bridget Joness Diary: I do think New Years resolutions cant technically be expected to begin on New Years Day, dont you? Since, because its an extension of New Years Eve, smokers are already on a smoking roll and cannot be expected to stop abruptly on the stroke of midnight with so much nicotine in the system. Also dieting on New Years Day isnt a good idea as you cant eat rationally but really need to be free to consume whatever is necessary, moment by moment, in order to ease your hangover. I think it would be much more sensible if resolutions began generally on January the second. Some, like Andre Gide, also address the idea of resolutions with humor: But can one still make resolutions when one is over forty? I live according to twenty-year-old habits. Others like Ellen Goodman approach it with a quiet optimism for real change: We spend January 1 walking through our lives, room by room, drawing up a list of work to be done, cracks to be patched. Maybe this year, to balance the list, we ought to walk through the rooms of our lives... not looking for flaws, but for potential. Mark Twain described these resolutions with an air of contempt multiple times throughout his writing and public speaking career. He once famously wrote, New Years is a harmless annual institution, of no particular use to anybody save as a scapegoat for promiscuous drunks, and friendly calls and humbug resolutions. Another time, Twain wrote:  Yesterday, everybody smoked his last cigar, took his last drink and swore his last oath. Today, we are a pious and exemplary community. Thirty days from now, we shall have cast our reformation to the winds and gone to cutting our ancient shortcomings considerably shorter than ever. Oscar Wilde, on the other hand, took the concept with a grain of salt and wrote about it with humor, Good  resolutions  are simply checks that men draw on a bank where they have no account. Quotes About Fresh Starts and New Beginnings Other writers believe in the tradition of New Years Day being one for a fresh start or a clean slate - in writers terms, a fresh piece of paper or a blank page - and as G.K. Chesterton puts it: The object of a New Year is not that we should have a new year. It is that we should have a new soul and a new nose; new feet, a new backbone, new ears, and new eyes. Unless a particular man made New Year resolutions, he would make no resolutions. Unless a man starts afresh about things, he will certainly do nothing effective. Other writers find the fresh start a little easier that Chesterton, like John Burroughs who once said One resolution I have made, and try always to keep, is this: To rise above the little things, or Benjamin Franklin who once wrote Be always at war with your vices, at peace with your neighbors, and let each new year find you a better man. Anaà ¯n Nin takes it one step further, saying every day is a resolution: I made no resolutions for the New Year. The habit of making plans, of criticizing, sanctioning and molding my life, is too much of a daily event for me. On the Passage of Time Some writers focus directly on the idea of time passing in their musing on the traditions of celebrating the New Years holiday. Charles Lamb once wrote, for instance, Of all sounds of all bells... most solemn and touching is the peal which rings out the Old Year. Venetian writer  Thomas Mann  also appreciated the solemness of the passage of time and the meaninglessness of humans bells and whistles for celebrating the changing of one second to the next, which time cares nothing for: Time has no divisions to mark its passage, there is never a thunder-storm or blare of trumpets to announce the beginning of a new month or year. Even when a new century begins it is only we mortals who ring bells and fire off pistols. Two Short Poems About New Years Day Edith Lovejoy Pierce poetically described the first of the year as such: We will open the book. Its pages are blank. We are going to put words on them ourselves. The book is called Opportunity and its  first chapter  is New Years Day. Edgar Guest and Thomas Hood, on the other hand, both wrote entire short poems dedicated to the passing of the old year into the new: A happy New Year! Grant that IMay bring no tear to any eyeWhen this New Year in time shall endLet it be said Ive played the friend,Have lived and loved and labored here,And made of it a happy year.- Edgar Guest And ye, who have met with Adversitys blast,And been bowd to the earth by its fury;To whom the Twelve Months, that have recently passdWere as harsh as a prejudiced jury- Still, fill to the Future! and join in our chime,The regrets of remembrance to cozen,And having obtained a New Trial of Time,Shout in hopes of a kindlier dozen.- Thomas Hood

B minor Mass Essay Example | Topics and Well Written Essays - 2000 words

B minor Mass - Essay Example His positive position in the society had offered him opportunities to improve with his craft, including Mass in B-Minor. The composition is greatly influenced by the composer’s religious views, his personal connections and traditions of his time. About Mass in B-Minor The Mass in B minor was composed by Bach for the Roman Catholic Church. Although it is quite peculiar to think why a devout Lutheran would compose a song for the Catholics, Bach’s relationship with the rest of the society and his roles on it could justify this contrasting idea. The work is consisted of 27 sections divided into four major sections, and six of them are distinctively unchanging and all of which were written in different periods of Bach’s life. Therefore, it is logical to assume that the work is basically â€Å"an anthology† of music written by Bach in the late years of his life (Towe, 1991: 46). The major sections, â€Å"Kyrie,† â€Å"Gloria,† â€Å"Symbolum Nicen um or the Credo,† and â€Å"Sanctus, Hosanna, Benedictus, and Agnus Dei† were written for different purposes in different times; although all of which have a lot to do with the religious proceedings of the Catholic Mass. As how Spitta (n.d.) reviewed the composition, the work is â€Å"the ideal and ‘concentrated presentiment’ of the development of Christianity from Sin (Kyrie), through Atonement with Christ (Gloria), to the Church proceeding from him (Credo) and the memorial supper - the culmination of the doctrine (Sanctus...)† (as cited in Jenkins, 2001); while a lay-man observation would notice the pattern of life Christ followed: birth, death, and resurrection. Kyrie and Gloria Initially, the Kyrie and Gloria were written separately; it was not until 1733 that the two collections were put into one and played in a single setting and became the â€Å"two fifths of the entire work† (â€Å"History,† 2007). Kyrie and Gloria served as a à ¢â‚¬Å"presentation piece to the Elector of Saxony and King of Poland† with whom Bach had indulgence of being the Court Composer (Towe, 1991: 46). The Kyrie is presented to have charming duets of sopranos and interplay or strings and organ (Aylesbury Choral Society, 2004), of which Bach first gained his fame. It started out with a group of choral sopranos, where the ambiance can be best described as an act of awaiting for a predestined suffering; an event where Jesus Christ is particularly famed for. Talbeck (n.d.) noted that the second part of the Kyrie has â€Å"fugal style weaves all voice parts beautifully around the text, portraying a community grounded in hope.† The major sections were divided into several cantatas, which probably were composed also at different times. Most notably, his â€Å"Gloria,† as how the Aylesbury Choral Society (2004) predicts, â€Å"was probably reworked from a now lost instrumental movement.† The cantatas have duets of teno rs, sopranos, a combination of both, and an exploration of other voice ranges to suit the purpose. Symbolum Nicenum The introduction of the â€Å"Symbolum Nicenum† has a slower tempo, where the strings were audibly significant, compared to that of â€Å"Gloria† and denotes ascendance to the throne. The original text is in Latin, but if translated into English, it is known to be the Apostle’s Creed (e.g. Credo in unum Deum, Patrem omnipotentem as I believe in one God, Father Almighty in English). Thus, the Symbolum Nicenum is also known as the â€Å"

To what extent are resource conflicts over oil and over water Essay

To what extent are resource conflicts over oil and over water comparable or dissimilar Aim to develop both domestic and interna - Essay Example The main feature of this disparity has been that developed world is marked by â€Å"overconsumption† of resources, including water (Young, Dooge and Rodda, 1994, p.2). 3.1. History of Water Wars In contradiction to the over-consumption of resources by developed nations, it is revealed, â€Å"one billion people in low- and middle-income countries lack access to safe water for drinking† (Mullerat, 2009, p.197). It is also a fact that â€Å"80% of all diseases and over one third of deaths in developing countries are caused by the consumption of contaminated water† (Young, Dooge and Rodda, 1994, p.11). To put this whole scenario in simple words, developed countries have less water (because of urbanization) but they over-consume, while the developing countries have more water but it is contaminated or inaccessible to the low- and middle-income groups. Another important point to note is that water is not just a resource that is necessary for humans to exist, but also i s a resource that has become â€Å"the basis for development† (Young, Dooge and Rodda, 1994, p.11). Now, if we look into the major water wars that have raged in the past and the present, the Palestine-Israel conflict, The Indo-Pak Siachen Glacier conflict, the Iraq-Syria standoff of 1975, the Turkey-Syria impasse of 1989, conflicts among the â€Å"ten riparian states of the Nile river†, and the Texas-Mexico conflict of 1992 come to the fore (Starr, 1991; Nolan, 1994, p.465; Johnson and Turner, 2009, p.459; Wolf, 1998, p.251). All these disputes had erupted based on the water needs and developmental aspirations of the involved nations. No direct corporate involvement was visible in any of these conflicts. But now the picture is slightly changing as local water conflicts have been... The US Scene At intra-state level, the conflicts are worsening as is seen in the United States itself. The supply of drinking water to the people by the government was started in the US as early as in the beginning of 20th century (Ridgeway, 2004, p.1). This was implemented by taking over the rights over water sources from private entities (Ridgeway, 2004, p.1). But the contradiction of history has been that once again, the water sources of US have come under the control of private corporate companies. And even the municipality water supplies that remain are getting polluted by industrial waste, produced by corporate houses (Ridgeway, 2004, p.2). On the other hand, community level conflicts have been emerging in US for the rights over water. For example, the Native Americans have raised their voices to assert their rights over water (Weinberg, 1997, p.8). There are also conflicts existing â€Å"between agricultural, urban, environmental and tribal uses of water† in the US (Weinberg, 1997, p.8). California’s central valley that is host to mega water projects has become an environmental hotpot caused by draught and water scarcity (Weinberg, 1997, p.9). Diversion of water into urban use from agrarian use has become a matter of dispute (Ridgeway, 2004, p.9). Another water conflict erupted in the Pacific Northwest â€Å"over how to manage the flow of the Columbia and the Snake rivers† (Weinberg, 1997, p.9). There is also water dispute existing between upper river basin and lower river basin of Colorado River (Weinberg, 1997, p.10). All these conflicts have been between the communities and the corporate or gove rnment level managers of water.

Portfolio of work completed with supporting narrative paper Essay

Portfolio of work completed with supporting narrative paper - Essay Example Over the more than 20 years it has been in operation in the industry, it has gained super advantages in terms of the logistics, the production technology and dissemination of information to the market in terms of its sales and marketing ability (SDITC). The company has a history of production of only quality products and does not reciprocate on quality in the market. This goes hand in hand with promotion of excellence in the market that it operates in. some of the products that the company produces are; ceramic tiles, carpet tiles, floor tiles, mosaic marble and many different types of tile products. With an employee total range of 100-500 at any one time in its operation, the company has developed to become a high stake in the industry and with the slightly over 20 years of operation, it has developed a very strong manufacturing in technology based production. Its sales and marketing to the market is also a very efficient strategy in that the company has good customer relations whic h have made it dominate the Chinese market for a good length of time. Therefore, undertaking internship at such a company exposes the subject to very objective experience in the respective field of study. With its technology applications, the company introduces the learner to the most current methods of sales and marketing. Description of Work Experiences A typical day week was comprised of a range of activities that were carried periodically either on day to day basis or weekly basis. There are those activities that were based on appointments and had to be referred to on a weekly basis. As a sales assistant at the company, there was a vast range of activities that were relevant to the course which was being done. One of the duties was that of an assistant sales staff work at the company. In this capacity, the work involved constituted helping potential customers to access purchases at the company. Tracking customers was another sales activity that was involved in at the company. Th is was tracking the orders that the company was to implement. When a company was having a pool of activities involving the use of orders, there was need to get a follow up activity that was used to make the customers be able to create continuous sales activities in the company. Tracking of the orders is used to make a follow up on the orders made to customers so that there is no single lost market for the company. Communication is very important in marketing. This marketing and sales is based on the fact that one is able to communicate and convince the customers to be able to purchase and be able to purchase again when another chance like that presents itself. Sound communication was therefore important in tracking the customers in their whereabouts and then initializing the programs that would make a positive transaction between the company and the customer. Once some of the business activities had been initialized, it was necessary creating a link through the available communicati on channels at the company to make sure that new sales opportunities are created to new customers. This was created through enough business networking through the internet and all the technological sources available. Development of new customers is a very strong progressive step towards the development of the company sales. In creation of new customers, there is always need to create a safe and

Role of Carotenoids on the Immune Response

Role of Carotenoids on the Immune Response There is growing evidence from in vitro and in vivo laboratory animal studies that ÃŽ ²-carotene can protect phagocytic cells from autoxidative damage, enhance T and B lymphocyte proliferative responses, stimulate effector T cell functions and enhance macrophage, cytotoxic T cell and natural killer cell tumoricidal capacities, as well as increase the production of certain interleukins. Because of their molecular composition, specifically their highly conjugated double-bond structure carotenoids such as beta-carotene and lutein serve as effective scavenger of the harmful unpaired electrons (eg. singlet oxygen, free radicals) produced by normal metabolic processes that damage body tissues (eg. via lipid peroxidation, Krinsky 1992).The cells of the immune system are particularly sensitive to oxidative stress and may benefit substantially from the free radical trapping ability of carotenoids, as the immune response itself produces reactive oxygen species that disrupt the intercellular si gnals sent via lipid-rich, membrane- bound receptors (Chew 1993). An enormous body of literature has accumulated over the past 20 year demonstrating the potency of carotenoids as immuno stimulants in humans and other mammals(reviewed in Hughes 2001, Krisnsky 2001). However, within the last decade, it has also been suggested that these carotenoid derived sexual colours may signal the health and condition of males of birds and fish of the specific antioxidant and immune stimulatory activity of carotenoids obtained from the diet and transported through the body before they are incorporated into the integument (Lozano 1994, von Schantz et.al; 1999; Moller et.al 2000). This issue continues to be debated on theoretical grounds (Hill 1999a ; Lozano2001), fueld by the idea that colorful birds and fishes obtain far more carotenoids in the diet than carotenoid deprived mammals, thus individuals may not be limited in the extent to which they can use carotenoids to boost their immune response. Early studies demonstrating the ability of dietary carotenoids to prevent infections have left open the possibility that the action of these carotenoids may be through their prior conversion to vitamin A. Subsequent studies to demonstrare the specific action of dietary carotenoids have used carotenoids without provitamin A activity such as lutein, canthaxanthin, lycopene and astaxanthin. In fact, these non provitamin A carotenoids were as active, and at times more mediated and humoral immune response in animals and humans. Results have similarly shown immuno enhancement by non provitamin A carotenoids, based either on the relative activity or on the type of immune response affected compared to ÃŽ ²-carotene Studies on the role of carotenoids on immune response have generally used several key immune function assays. These include Ig production,lymphoblastogenesis, lymphocyte cytotoxic activity, cytokine production, delayed type hypersensitivity. In the 1930s, Green and Mellanby found that infections of the ear, bladder, kidney and gut of vitamin A-deficient rats were prevented when the rats were fed with ÃŽ ²-carotene. The level of carotene needed to prevent these infections was higher than the amount required to stimulate growth. Clauson observed that in young children with severe ear infections, improvement was seen following an increased intake of dietary carotene. These two early reports suggest that the anti-infective effect of ÃŽ ²-carotene may be due to its pro-vitamin A activity. ÃŽ ²-carotene may also have an independent effects on immune responses, separate from its provitamin A activity. ÃŽ ²-carotene and other carotenoids with nine or more conjugated double bonds may enhance immune function by quenching singlet oxygen and other reactive oxygen species, including free radicals. ÃŽ ²-carotene and canthaxanthin together inhibited the loss of macrophage receptors following exposure to reactive oxygen intermediate (Gruner et. al., 1986). T helper cells are involved in helping B cells secrete specific antibodies in response to an antigenic challenge. Experiments were performed , in which laboratory animals were either fed ÃŽ ²-carotene or canthaxanthin to determine a carotenoid effect, separate from a provitamin A effect on T and B lymphocyte functions. Canthaxanthin has the same ability to quench singlet oxygen and free radicals as ÃŽ ²-carotene but cannot be converted to vitamin A in mammals. Specific immune responses of laboratory animals were similarly enhanced with diets containing canthaxanthin as with diets containing ÃŽ ²-carotene (Benedict and Shapiro 1986). Some new investigations indicate that carotenoid can play a very important role in enhancing immune responses, which can lead to the reduction of tumor growth. The immune system has three cell types capable of killing tumor cells. In a preliminary report, it was shown that human natural killer cells killed significantly more tumor cells when incubated with ÃŽ ²-carotene than human cells not exposed to ÃŽ ²-carotene. ÃŽ ±-carotene also enhanced tumor killing (Leslie and Dubey, 1982). Carotenoids, besides acting through the various mechanisms described earlier, can also influence immune function through their ability to regulate membrane fluidity, and gap junctional communication. All these actions are most likely interrelated in their modulation of an immune response. Carotenoids help to maintain the membrane receptors that are essential for immune function, and they may also be found to be important in the release of immune modulatory lipid molecules such as leukotrienes. Carotenoids may increase the tumoricidal activity of the cytotoxic T cells, macrophages and or natural killer cells by any of these mechanism of action. Carotenoid enhances many aspects of immune function which include T and B lymphocyte proliferation, induction of specific effector cells capable of killing tumor cells, and the secretion of factors required for the communication between immunologically competent cells. The action of carotenoids on immune response hangs in a delicate balance with the intra-and extra cellular milieu, the outcome of which depends not only on the type and concentration of the carotenoid but also on the cell type and animal species involved. Even though studies to date have provided evidence for a specific action of carotenoids much has yet to be done to truly understand their molecular action. CAROTENOID AS PRO-VITAMIN A SOURCE Biosynthesis or conversion of carotendoids into vitamin A: Conversion of carotenoids into vitamin A becomes complicated in fishes and aquatic animals, due to the presence of vitamin A2, which frequently predominated over vitamin A in animals living or spawning in freshwater.The presence of an unsubstituted ÃŽ ²-ionone ring in the caroteniod molecule supports for vitamin A activity. Both vitamin A1, and A2 can be formed in some fishes from common precurors, such as ÃŽ ²-carotene (Morton and Creed, 1939). Carotenoids containing at least one unsubstituted 3, 4 dehydro ÃŽ ²-ionone ring have been shown to act as specific provitamins A2 in chicks (Budowski, et.al 1963) and mice (Budowski and Gross, 1965).According to (Budoswki, et. al 1963) the dehydration of lutein to anhydrolutein (3,4- dehydro-3-hydroxy ÃŽ ²-carotene), a provitamin A2 might be of possible biological significance in this respect. There are two pathways for the conversion of carotenoids to vitamin A in mammals, central cleavage and eccentric cleavage. In 1960, Glover thoughtfully discussed various pathways by which carotenoids might be converted into vitamin A. He indicated that two primary oxidative reaction might occur, one at the central 15, 15’ double bond and the other at one or more of the other double bonds. The product of the central cleavage of ÃŽ ²-carotene would be two molecules of retinal, where as that of eccentric cleavage would be one long and one short ÃŽ ²-apo-carotenal e.g. cyclocitral and ÃŽ ²-apo-8’-carotenal, by the rupture of the 7’:8’ double bond. The enzyme, ÃŽ ²-carotenoid-15, 15’-dioxygenase which converts ÃŽ ²-carotene into two molecules of retinal requires molecular oxygen and is inhibited by sulfhydryl-binding and iron –binding reagents. Most pro vitamin A carotenoids,including the ÃŽ ² apo-carotenals,are cleaved to retinal by this enzyme. Thus, carotenoid dioxygenase with eccentric bond specificity has been indentified in mammals, the yield of ÃŽ ²Ã¢â‚¬â€œapo-carotenals from ÃŽ ²-carotene in vivo and in vitro is very low, and ÃŽ ²-apo-carotenals are formed nonbiologically from ÃŽ ²-carotene. Cyclic carotenes may be oxidized to hydroxylated and epoxide derivatives, converted to allenic and less saturated derivatives, or cleaved oxidatively to shorter products. Central Cleavage: In 1965, the cytosolic enzyme preparations of the intestine and liver converted ÃŽ ²-carotene to retinal were shown by two independent groups (Goodwin, et.al and Olson et. al 1965 ). The enzyme required molecular oxygen, yielded retinal as the sole identified product, was inhibited by ferrous-ion chelating agents and by sulfhydryl binding reagents (Olson, 1983). The main yield of retinal formed from the ÃŽ ²-carotene was 40-60%( Goodman and Huang, 1965) and (Olson, 1969). Since ÃŽ ²-carotene is unstable during isolation by TLC some losses occurred as a result of both biological as well as non biological oxidation during incubation, retinal was the major, if not the sole, biological product of the reaction. The retinal formed was satisfactorily characterized by several chemical and physio-chemical procedures. The enzyme, termed ÃŽ ²-carotenoid 15, 15’- dioxygenase was subsequently purified 20 to 70 fold from the intestines of several species and upon purification it became unstable. ÃŽ ²-carotenoid- 15,15’-dioxygenase cleaves many carotenoids, including several ÃŽ ²-apo-carotenals.There may be some quantative differences but the relative rates of cleavage are similar(Singh and Cama 1974). In general, relative to the aldehyde form, the ÃŽ ²-apo-carotenals are better substrates and the ÃŽ ²-apo-carotenic acids are poorer substrates for the enzyme. Retinal has clearly been identified as one product of the reaction. Eccentric Cleavage. ÃŽ ²-apo-carotenals are intermediate between carotenoids and vitamin A. In conversion of ÃŽ ²-carotene to vitamin A, an important observation was made in a recent study that individual ÃŽ ²-apo-carotenals are formed in small but significant amounts by incubating ÃŽ ²-carotene aerobically in the dark with shaking for an hour in the absence of an enzyme preparation. When compared, the reported rate of enzyme-catalyzed retinal formation is much higher.Despite these low yields, ÃŽ ²-apo-carotenals might still be formed biologically from B-carotene in mammals. But in future studies, the non-biological formation of oxidation products of carotenoids must be carefully assessed and the rate of the eccentric cleavage reaction, both in vivo and in vitro, must be related to the rate of formation of retinal by central cleavage. The metabolism of the ÃŽ ²-apo-carotenals has been addressed primarily in terms of their conversion to vitamin A and their oxidation to ÃŽ ²-apo-carotenoic acids. As analogous of retinal, however, they are expected to be metabolized in a similar way. Thus a significant part of them may well be reduced to ÃŽ ²-apo-carotenols (Glover, 1960) and (Sharma et .al 1977) and subsequently esterified to ÃŽ ²-apo carotenyl esters. Such compounds like retinyl ester and esterified lipids, should be transported primarily in the Chylomicra. Fish are much more versatile than mammals in meeting their needs for vitamin A (Olson, 1983). Fish are able to convert astaxanthin (3,3’-dihydroxy, 4,4’-diketo-ÃŽ ²-carotene), canthaxanthin (4,4 diketo-ÃŽ ²-Carotene) and isozeaxanthin (4,4’-dihydroxy ÃŽ ²-carotene) to ÃŽ ² carotene. They can also convert anhydrolutein derived from lutein, to dehydroretinol (Goswami ;1987). The oxidative metabolites of carotenoids work as essential molecules in a wide variety of living organisms. Carotenoids are converted to biologically active products such as abscisic acid, trisporic acid and retinoic acid in plants, fungi and animals respectively. Their formation is mediated by enzymes that catalyze cleavage reactions against specific double bonds of cartenoids. Moreover, carotenoids vulnerable to oxidation have the potential to be converted to biologically active compounds by chemical transformation. In mammals, ÃŽ ²-carotene 15,15’-dioxygenase catalyzes conversion of ÃŽ ²-carotene to retinal (Olson and Hayaishi, 1965) and (Goodman and Huang 1965). Although the cleavage enzyme plays a crucial role in vitamin A formation, its properties have not yet been fully revealed. The regulatory mechanism of the dioxygenase in particular remains to be clarified in terms of the nutrition of pro-vitamin A carotenoids. Dietary ÃŽ ²-carotene solubilized in mixed micelles wit h bile components and hydrolyzates of dietary lipids is absorbed in intestinal cells. Retinal formed from ÃŽ ²-carotene is further converted to retinyl ester by retinal reductase and lecithin retinol acyltransferase with the aid of cellular retinol binding protien type-II (CRBP-II), and then incorporated into chylomicron (Ong,1993). Thus, the cleavage of ÃŽ ²-carotene in intestinal cells is closely linked to lipid and retinoid metabolism, and the regulation of the cleavage enzyme activity should be considered in this context. Moreover, the cleavage enzyme is located in the intestinal cells, which are directly exposed to various food components. Action of dietary phytochemicals on the dioxygenase activity might affect the bioavailability of provitamin A carotenoid derived from fruits and vegetables. Carotenoids can be oxidized to a number of compounds by chemical transformation, in contrast to the specific cleavage of certain carotenoids by the enzyme, because of the high reactivity of conjugated double bonds to active oxygen species. The enzymatic conversion of ÃŽ ²-carotene to vitamin A, the non-enzymatic cleavage of lycopene, and the biological actions of the oxidation products of lycopene are described in Akihiko Nagao†s paper.

Decibel Portfolio Essay -- essays research papers

The intensity I of a sound wave is measured in watts per metre squared ( ). The lowest intensity that the average human ear can detect, i.e. the threshold of hearing, is denoted by , where . The loudness of sound, i.e. its intensity level , is measured in decibels (dB), where . From this function a specific relationship between and can be drawn that holds true for any increase in intensity. By knowing the value of beta ( ), the value of can be found via manipulation of the logarithmic function, and by knowing the value of beta can by found by just taking the log of and multiplying it by ten. The intensity level of ordinary conversation is 65 dB. In order to find the intensity of normal conversation on must set beta to 65 dB and to . Afterwards, via using the division property of equality one joins like terms. Once the logarithm is alone, one can apply the properties of logarithms and separate the logarithm into two logarithms. The quotient rule for logarithms is applied to this equation, , where and . By the definition of the logarithmic function, if and only if , one knows that in order to cancel out the logarithm one must exponentiate the log to ten. When one does this one must also keep in mind that equality must be kept on both sides of the equation, so the -5.5 becomes the exponent of ten. After doing this, one knows that . dB . If one wanted to find the intensity of the sound inside and automobile travelling at that has an intensity level of 75 dB one would follow the same procedure mentioned previously to find intensity. In addition to this method one can use a graphing calculator in order to make the finding of I simpler. By following the procedure one can use a Ti-82 graphing calculator to find the intensity I of a sound by knowing the intensity level b. The function used is just all the steps followed above summarized into one function.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Enter   Ã‚  Ã‚  Ã‚  Ã‚  ENTER By the use of the calculator, one finds the correct response in a quicker fashion than by working the problem out. However, in order to prove that the answer provided by the calculator is correct one should always work out the problem by hand. dB  Ã‚  Ã‚  Ã‚  Ã‚   Source of Sound  Ã‚  Ã‚  Ã‚  Ã‚  Intensity Level (dB)  ... ...even though the has changed, if the intensity level increases by ten units, then the intensity increases ten times. When me and my dog cross a busy street the noise does not seem equally loud to both of us. This because the dog has a higher threshold of hearing than me. This is explained best by the fact that the graph for the intensity level in terms of intensity for dogs is translated ten units up from the one for humans. The vertical translation signifies that for any given intensity, the intensity level is ten dB more for dogs than for humans. Knowing the relationship between intensity I and the intensity level b is very important to understanding how all beings hear. By understand the relationship, we know that the threshold of something’s hearing is what affects loudness with which it hears the sound. Furthermore, by understanding the relationship we know that the curve for the relationship will always have the same shape, but the only difference will be that for different thresholds, it will be translated along the Y-axis. Throughout this project, it was researched how to use properties of logarithms in order to assist one in finding intensity by knowing intensity level,

A Game of Thrones Chapter Sixty-two

Tyrion On a hill overlooking the kingsroad, a long trestle table of rough-hewn pine had been erected beneath an elm tree and covered with a golden cloth. There, beside his pavilion, Lord Tywin took his evening meal with his chief knights and lords bannermen, his great crimson-and-gold standard waving overhead from a lofty pike. Tyrion arrived late, saddlesore, and sour, all too vividly aware of how amusing he must look as he waddled up the slope to his father. The day's march had been long and tiring. He thought he might get quite drunk tonight. It was twilight, and the air was alive with drifting fireflies. The cooks were serving the meat course: five suckling pigs, skin seared and crackling, a different fruit in every mouth. The smell made his mouth water. â€Å"My pardons,† he began, taking his place on the bench beside his uncle. â€Å"Perhaps I'd best charge you with burying our dead, Tyrion,† Lord Tywin said. â€Å"If you are as late to battle as you are to table, the fighting will all be done by the time you arrive.† â€Å"Oh, surely you can save me a peasant or two, Father,† Tyrion replied. â€Å"Not too many, I wouldn't want to be greedy.† He filled his wine cup and watched a serving man carve into the pig. The crisp skin crackled under his knife, and hot juice ran from the meat. It was the loveliest sight Tyrion had seen in ages. â€Å"Ser Addam's outriders say the Stark host has moved south from the Twins,† his father reported as his trencher was filled with slices of pork. â€Å"Lord Frey's levies have joined them. They are likely no more than a day's march north of us.† â€Å"Please, Father,† Tyrion said. â€Å"I'm about to eat.† â€Å"Does the thought of facing the Stark boy unman you, Tyrion? Your brother Jaime would be eager to come to grips with him.† â€Å"I'd sooner come to grips with that pig. Robb Stark is not half so tender, and he never smelled as good.† Lord Lefford, the sour bird who had charge of their stores and supplies, leaned forward. â€Å"I hope your savages do not share your reluctance, else we've wasted our good steel on them.† â€Å"My savages will put your steel to excellent use, my lord,† Tyrion replied. When he had told Lefford he needed arms and armor to equip the three hundred men Ulf had fetched down out of the foothills, you would have thought he'd asked the man to turn his virgin daughters over to their pleasure. Lord Lefford frowned. â€Å"I saw that great hairy one today, the one who insisted that he must have two battle-axes, the heavy black steel ones with twin crescent blades.† â€Å"Shagga likes to kill with either hand,† Tyrion said as a trencher of steaming pork was laid in front of him. â€Å"He still had that wood-axe of his strapped to his back.† â€Å"Shagga is of the opinion that three axes are even better than two.† Tyrion reached a thumb and forefinger into the salt dish, and sprinkled a healthy pinch over his meat. Ser Kevan leaned forward. â€Å"We had a thought to put you and your wildlings in the vanguard when we come to battle.† Ser Kevan seldom â€Å"had a thought† that Lord Tywin had not had first. Tyrion had skewered a chunk of meat on the point of his dagger and brought it to his mouth. Now he lowered it. â€Å"The vanguard?† he repeated dubiously. Either his lord father had a new respect for Tyrion's abilities, or he'd decided to rid himself of his embarrassing get for good. Tyrion had the gloomy feeling he knew which. â€Å"They seem ferocious enough,† Ser Kevan said. â€Å"Ferocious?† Tyrion realized he was echoing his uncle like a trained bird. His father watched, judging him, weighing every word. â€Å"Let me tell you how ferocious they are. Last night, a Moon Brother stabbed a Stone Crow over a sausage. So today as we made camp three Stone Crows seized the man and opened his throat for him. Perhaps they were hoping to get the sausage back, I couldn't say. Bronn managed to keep Shagga from chopping off the dead man's cock, which was fortunate, but even so Ulf is demanding blood money, which Conn and Shagga refuse to pay.† â€Å"When soldiers lack discipline, the fault lies with their lord commander,† his father said. His brother Jaime had always been able to make men follow him eagerly, and die for him if need be. Tyrion lacked that gift. He bought loyalty with gold, and compelled obedience with his name. â€Å"A bigger man would be able to put the fear in them, is that what you're saying, my lord?† Lord Tywin Lannister turned to his brother. â€Å"If my son's men will not obey his commands, perhaps the vanguard is not the place for him. No doubt he would be more comfortable in the rear, guarding our baggage train.† â€Å"Do me no kindnesses, Father,† he said angrily. â€Å"If you have no other command to offer me, I'll lead your van.† Lord Tywin studied his dwarf son. â€Å"I said nothing about command. You will serve under Ser Gregor.† Tyrion took one bite of pork, chewed a moment, and spit it out angrily. â€Å"I find I am not hungry after all,† he said, climbing awkwardly off the bench. â€Å"Pray excuse me, my lords.† Lord Tywin inclined his head, dismissing him. Tyrion turned and walked away. He was conscious of their eyes on his back as he waddled down the hill. A great gust of laughter went up from behind him, but he did not look back. He hoped they all choked on their suckling pigs. Dusk had settled, turning all the banners black. The Lannister camp sprawled for miles between the river and the kingsroad. In amongst the men and the horses and the trees, it was easy to get lost, and Tyrion did. He passed a dozen great pavilions and a hundred cookfires. Fireflies drifted amongst the tents like wandering stars. He caught the scent of garlic sausage, spiced and savory, so tempting it made his empty stomach growl. Away in the distance, he heard voices raised in some bawdy song. A giggling woman raced past him, naked beneath a dark cloak, her drunken pursuer stumbling over tree roots. Farther on, two spearmen faced each other across a little trickle of a stream, practicing their thrust-and-parry in the fading light, their chests bare and slick with sweat. No one looked at him. No one spoke to him. No one paid him any mind. He was surrounded by men sworn to House Lannister, a vast host twenty thousand strong, and yet he was alone. When he heard the deep rumble of Shagga's laughter booming through the dark, he followed it to the Stone Crows in their small corner of the night. Conn son of Coratt waved a tankard of ale. â€Å"Tyrion Halfman! Come, sit by our fire, share meat with the Stone Crows. We have an ox.† â€Å"I can see that, Conn son of Coratt.† The huge red carcass was suspended over a roaring fire, skewered on a spit the size of a small tree. No doubt it was a small tree. Blood and grease dripped down into the flames as two Stone Crows turned the meat. â€Å"I thank you. Send for me when the ox is cooked.† From the look of it, that might even be before the battle. He walked on. Each clan had its own cookfire; Black Ears did not eat with Stone Crows, Stone Crows did not eat with Moon Brothers, and no one ate with Burned Men. The modest tent he had coaxed out of Lord Lefford's stores had been erected in the center of the four fires. Tyrion found Bronn sharing a skin of wine with the new servants. Lord Tywin had sent him a groom and a body servant to see to his needs, and even insisted he take a squire. They were seated around the embers of a small cookfire. A girl was with them; slim, dark-haired, no more than eighteen by the look of her. Tyrion studied her face for a moment, before he spied fishbones in the ashes. â€Å"What did you eat?† â€Å"Trout, m'lord,† said his groom. â€Å"Bronn caught them.† Trout, he thought. Suckling pig. Damn my father. He stared mournfully at the bones, his belly rumbling. His squire, a boy with the unfortunate name of Podrick Payne, swallowed whatever he had been about to say. The lad was a distant cousin to Ser Ilyn Payne, the king's headsman . . . and almost as quiet, although not for want of a tongue. Tyrion had made him stick it out once, just to be certain. â€Å"Definitely a tongue,† he had said. â€Å"Someday you must learn to use it.† At the moment, he did not have the patience to try and coax a thought out of the lad, whom he suspected had been inflicted on him as a cruel jape. Tyrion turned his attention back to the girl. â€Å"Is this her?† he asked Bronn. She rose gracefully and looked down at him from the lofty height of five feet or more. â€Å"It is, m'lord, and she can speak for herself, if it please you.† He cocked his head to one side. â€Å"I am Tyrion, of House Lannister. Men call me the Imp.† â€Å"My mother named me Shae. Men call me . . . often.† Bronn laughed, and Tyrion had to smile. â€Å"Into the tent, Shae, if you would be so kind.† He lifted the flap and held it for her. Inside, he knelt to light a candle. The life of a soldier was not without certain compensations. Wherever you have a camp, you are certain to have camp followers. At the end of the day's march, Tyrion had sent Bronn back to find him a likely whore. â€Å"I would prefer one who is reasonably young, with as pretty a face as you can find,† he had said. â€Å"If she has washed sometime this year, I shall be glad. If she hasn't, wash her. Be certain that you tell her who I am, and warn her of what I am.† Jyck had not always troubled to do that. There was a look the girls got in their eyes sometimes when they first beheld the lordling they'd been hired to pleasure . . . a took that Tyrion Lannister did not ever care to see again. He lifted the candle and looked her over. Bronn had done well enough; she was doe-eyed and slim, with small firm breasts and a smile that was by turns shy, insolent, and wicked. He liked that. â€Å"Shall I take my gown off, m'lord?† she asked. â€Å"In good time. Are you a maiden, Shae?† â€Å"If it please you, m'lord,† she said demurely. â€Å"What would please me would be the truth of you, girl.† â€Å"Aye, but that will cost you double.† Tyrion decided they would get along splendidly. â€Å"I am a Lannister. Gold I have in plenty, and you'll find me generous . . . but I'll want more from you than what you've got between your legs, though I'll want that too. You'll share my tent, pour my wine, laugh at my jests, rub the ache from my legs after each day's ride . . . and whether I keep you a day or a year, for so long as we are together you will take no other men into your bed.† â€Å"Fair enough.† She reached down to the hem of her thin roughspun gown and pulled it up over her head in one smooth motion, tossing it aside. There was nothing underneath but Shae. â€Å"If he don't put down that candle, m'lord will burn his fingers.† Tyrion put down the candle, took her hand in his, and pulled her gently to him. She bent to kiss him. Her mouth tasted of honey and cloves, and her fingers were deft and practiced as they found the fastenings of his clothes. When he entered her, she welcomed him with whispered endearments and small, shuddering gasps of pleasure. Tyrion suspected her delight was feigned, but she did it so well that it did not matter. That much truth he did not crave. He had needed her, Tyrion realized afterward, as she lay quietly in his arms. Her or someone like her. It had been nigh on a year since he'd lain with a woman, since before he had set out for Winterfell in company with his brother and King Robert. He could well die on the morrow or the day after, and if he did, he would sooner go to his grave thinking of Shae than of his lord father, Lysa Arryn, or the Lady Catelyn Stark. He could feel the softness of her breasts pressed against his arm as she lay beside him. That was a good feeling. A song filled his head. Softly, quietly, he began to whistle. â€Å"What's that, m'lord?† Shae murmured against him. â€Å"Nothing,† he told her. â€Å"A song I learned as a boy, that's all. Go to sleep, sweetling.† When her eyes were closed and her breathing deep and steady, Tyrion slid out from beneath her, gently, so as not to disturb her sleep. Naked, he crawled outside, stepped over his squire, and walked around behind his tent to make water. Bronn was seated cross-legged under a chestnut tree, near where they'd tied the horses. He was honing the edge of his sword, wide awake; the sellsword did not seem to sleep like other men. â€Å"Where did you find her?† Tyrion asked him as he pissed. â€Å"I took her from a knight. The man was loath to give her up, but your name changed his thinking somewhat . . . that, and my dirk at his throat.† â€Å"Splendid,† Tyrion said dryly, shaking off the last drops. â€Å"I seem to recall saying find me a whore, not make me an enemy.† â€Å"The pretty ones were all claimed,† Bronn said. â€Å"I'll be pleased to take her back if you'd prefer a toothless drab.† Tyrion limped closer to where he sat. â€Å"My lord father would call that insolence, and send you to the mines for impertinence.† â€Å"Good for me you're not your father,† Bronn replied. â€Å"I saw one with boils all over her nose. Would you like her?† â€Å"What, and break your heart?† Tyrion shot back. â€Å"I shall keep Shae. Did you perchance note the name of this knight you took her from? I'd rather not have him beside me in the battle.† Bronn rose, cat-quick and cat-graceful, turning his sword in his hand. â€Å"You'll have me beside you in the battle, dwarf.† Tyrion nodded. The night air was warm on his bare skin. â€Å"See that I survive this battle, and you can name your reward.† Bronn tossed the longsword from his right hand to his left, and tried a cut. â€Å"Who'd want to kill the likes of you?† â€Å"My lord father, for one. He's put me in the van.† â€Å"I'd do the same. A small man with a big shield. You'll give the archers fits.† â€Å"I find you oddly cheering,† Tyrion said. â€Å"I must be mad.† Bronn sheathed his sword. â€Å"Beyond a doubt.† When Tyrion returned to his tent, Shae rolled onto her elbow and murmured sleepily, â€Å"I woke and m'lord was gone.† â€Å"M'lord is back now.† He slid in beside her. Her hand went between his stunted legs, and found him hard. â€Å"Yes he is,† she whispered, stroking him. He asked her about the man Bronn had taken her from, and she named the minor retainer of an insignificant lordling. â€Å"You need not fear his like, m'lord,† the girl said, her fingers busy at his cock. â€Å"He is a small man.† â€Å"And what am I, pray?† Tyrion asked her. â€Å"A giant?† â€Å"Oh, yes,† she purred, â€Å"my giant of Lannister.† She mounted him then, and for a time, she almost made him believe it. Tyrion went to sleep smiling . . . . . . and woke in darkness to the blare of trumpets. Shae was shaking him by the shoulder. â€Å"M'lord,† she whispered. â€Å"Wake up, m'lord. I'm frightened.† Groggy, he sat up and threw back the blanket. The horns called through the night, wild and urgent, a cry that said hurry hurry hurry. He heard shouts, the clatter of spears, the whicker of horses, though nothing yet that spoke to him of fighting. â€Å"My lord father's trumpets,† he said. â€Å"Battle assembly. I thought Stark was yet a day's march away.† Shae shook her head, lost. Her eyes were wide and white. Groaning, Tyrion lurched to his feet and pushed his way outside, shouting for his squire. Wisps of pale fog drifted through the night, long white fingers off the river. Men and horses blundered through the predawn chill; saddles were being cinched, wagons loaded, fires extinguished. The trumpets blew again: hurry hurry hurry. Knights vaulted onto snorting coursers while men-at-arms buckled their sword belts as they ran. When he found Pod, the boy was snoring softly. Tyrion gave him a sharp poke in the ribs with his toe. â€Å"My armor,† he said, â€Å"and be quick about it.† Bronn came trotting out of the mists, already armored and ahorse, wearing his battered halfhelm. â€Å"Do you know what's happened?† Tyrion asked him. â€Å"The Stark boy stole a march on us,† Bronn said. â€Å"He crept down the kingsroad in the night, and now his host is less than a mile north of here, forming up in battle array.† Hurry, the trumpets called, hurry hurry hurry. â€Å"See that the clansmen are ready to ride.† Tyrion ducked back inside his tent. â€Å"Where are my clothes?† he barked at Shae. â€Å"There. No, the leather, damn it. Yes. Bring me my boots.† By the time he was dressed, his squire had laid out his armor, such that it was. Tyrion owned a fine suit of heavy plate, expertly crafted to fit his misshapen body. Alas, it was safe at Casterly Rock, and he was not. He had to make do with oddments assembled from Lord Lefford's wagons: mail hauberk and coif, a dead knight's gorget, lobstered greaves and gauntlets and pointed steel boots. Some of it was ornate, some plain; not a bit of it matched, or fit as it should. His breastplate was meant for a bigger man; for his oversize head, they found a huge bucket-shaped greathelm topped with a foot-long triangular spike. Shae helped Pod with the buckles and clasps. â€Å"If I die, weep for me,† Tyrion told the whore. â€Å"How will you know? You'll be dead.† â€Å"I'll know.† â€Å"I believe you would.† Shae lowered the greathelm down over his head, and Pod fastened it to his gorget. Tyrion buckled on his belt, heavy with the weight of shortsword and dirk. By then his groom had brought up his mount, a formidable brown courser armored as heavily as he was. He needed help to mount; he felt as though he weighed a thousand stone. Pod handed him up his shield, a massive slab of heavy ironwood banded with steel. Lastly they gave him his battle-axe. Shae stepped back and looked him over. â€Å"M'lord looks fearsome.† â€Å"M'lord looks a dwarf in mismatched armor,† Tyrion answered sourly, â€Å"but I thank you for the kindness. Podrick, should the battle go against us, see the lady safely home.† He saluted her with his axe, wheeled his horse about, and trotted off. His stomach was a hard knot, so tight it pained him. Behind, his servants hurriedly began to strike his tent. Pale crimson fingers fanned out to the east as the first rays of the sun broke over the horizon. The western sky was a deep purple, speckled with stars. Tyrion wondered whether this was the last sunrise he would ever see . . . and whether wondering was a mark of cowardice. Did his brother Jaime ever contemplate death before a battle? A warhorn sounded in the far distance, a deep mournful note that chilled the soul. The clansmen climbed onto their scrawny mountain horses, shouting curses and rude jokes. Several appeared to be drunk. The rising sun was burning off the drifting tendrils of fog as Tyrion led them off. What grass the horses had left was heavy with dew, as if some passing god had scattered a bag of diamonds over the earth. The mountain men fell in behind him, each clan arrayed behind its own leaders. In the dawn light, the army of Lord Tywin Lannister unfolded like an iron rose, thorns gleaming. His uncle would lead the center. Ser Kevan had raised his standards above the kingsroad. Quivers hanging from their belts, the foot archers arrayed themselves into three long lines, to east and west of the road, and stood calmly stringing their bows. Between them, pikemen formed squares; behind were rank on rank of men-at-arms with spear and sword and axe. Three hundred heavy horse surrounded Ser Kevan and the lords bannermen Lefford, Lydden, and Serrett with all their sworn retainers. The right wing was all cavalry, some four thousand men, heavy with the weight of their armor. More than three quarters of the knights were there, massed together like a great steel fist. Ser Addam Marbrand had the command. Tyrion saw his banner unfurl as his standardbearer shook it out; a burning tree, orange and smoke. Behind him flew Ser Flement's purple unicorn, the brindled boar of Crakehall, the bantam rooster of Swyft, and more. His lord father took his place on the hill where he had slept. Around him, the reserve assembled; a huge force, half mounted and half foot, five thousand strong. Lord Tywin almost always chose to command the reserve; he would take the high ground and watch the battle unfold below him, committing his forces when and where they were needed most. Even from afar, his lord father was resplendent. Tywin Lannister's battle armor put his son Jaime's gilded suit to shame. His greatcloak was sewn from countless layers of cloth-of-gold, so heavy that it barely stirred even when he charged, so large that its drape covered most of his stallion's hindquarters when he took the saddle. No ordinary clasp would suffice for such a weight, so the greatcloak was held in place by a matched pair of miniature lionesses crouching on his shoulders, as if poised to spring. Their mate, a male with a magnificent mane, reclined atop Lord Tywin's greathelm, one paw raking the air as he roared. All three lions were wrought in gold, with ruby eyes. His armor was heavy steel plate, enameled in a dark crimson, greaves and gauntlets inlaid with ornate gold scrollwork. His rondels were golden sunbursts, all his fastenings were gilded, and the red steel was burnished to such a high sheen that it shone like fire in the light of the rising sun. Tyrion could hear the rumble of the foemen's drums now. He remembered Robb Stark as he had last seen him, in his father's high seat in the Great Hall of Winterfell, a sword naked and shining in his hands. He remembered how the direwolves had come at him out of the shadows, and suddenly he could see them again, snarling and snapping, teeth bared in his face. Would the boy bring his wolves to war with him? The thought made him uneasy. The northerners would be exhausted after their long sleepless march. Tyrion wondered what the boy had been thinking. Did he think to take them unawares while they slept? Small chance of that; whatever else might be said of him, Tywin Lannister was no man's fool. The van was massing on the left. He saw the standard first, three black dogs on a yellow field. Ser Gregor sat beneath it, mounted on the biggest horse Tyrion had ever seen. Bronn took one look at him and grinned. â€Å"Always follow a big man into battle.† Tyrion threw him a hard look. â€Å"And why is that?† â€Å"They make such splendid targets. That one, he'll draw the eyes of every bowman on the field.† Laughing, Tyrion regarded the Mountain with fresh eyes. â€Å"I confess, I had not considered it in that light.† Clegane had no splendor about him; his armor was steel plate, dull grey, scarred by hard use and showing neither sigil nor ornament. He was pointing men into position with his blade, a two-handed greatsword that Ser Gregor waved about with one hand as a lesser man might wave a dagger. â€Å"Any man runs, I'll cut him down myself,† he was roaring when he caught sight of Tyrion. â€Å"Imp! Take the left. Hold the river. If you can.† The left of the left. To turn their flank, the Starks would need horses that could run on water. Tyrion led his men toward the riverbank. â€Å"Look,† he shouted, pointing with his axe. â€Å"The river.† A blanket of pale mist still clung to the surface of the water, the murky green current swirling past underneath. The shallows were muddy and choked with reeds. â€Å"That river is ours. Whatever happens, keep close to the water. Never lose sight of it. Let no enemy come between us and our river. If they dirty our waters, hack off their cocks and feed them to the fishes.† Shagga had an axe in either hand. He smashed them together and made them ring. â€Å"Halfman!† he shouted. Other Stone Crows picked up the cry, and the Black Ears and Moon Brothers as well. The Burned Men did not shout, but they rattled their swords and spears. â€Å"Halfman! Halfman! Halfman!† Tyrion turned his courser in a circle to look over the field. The ground was rolling and uneven here; soft and muddy near the river, rising in a gentle slope toward the kingsroad, stony and broken beyond it, to the cast. A few trees spotted the hillsides, but most of the land had been cleared and planted. His heart pounded in his chest in time to the drums, and under his layers of leather and steel his brow was cold with sweat. He watched Ser Gregor as the Mountain rode up and down the line, shouting and gesticulating. This wing too was all cavalry, but where the right was a mailed fist of knights and heavy lancers, the vanguard was made up of the sweepings of the west: mounted archers in leather jerkins, a swarming mass of undisciplined freeriders and sellswords, fieldhands on plow horses armed with scythes and their fathers' rusted swords, half-trained boys from the stews of Lannisport . . . and Tyrion and his mountain clansmen. â€Å"Crow food,† Bronn muttered beside him, giving voice to what Tyrion had left unsaid. He could only nod. Had his lord father taken leave of his senses? No pikes, too few bowmen, a bare handful of knights, the ill-armed and unarmored, commanded by an unthinking brute who led with his rage . . . how could his father expect this travesty of a battle to hold his left? He had no time to think about it. The drums were so near that the beat crept under his skin and set his hands to twitching. Bronn drew his longsword, and suddenly the enemy was there before them, boiling over the tops of the hills, advancing with measured tread behind a wall of shields and pikes. Gods be damned, look at them all, Tyrion thought, though he knew his father had more men on the field. Their captains led them on armored warhorses, standard-bearers riding alongside with their banners. He glimpsed the bull moose of the Hornwoods, the Karstark sunburst, Lord Cerwyn's battle-axe, and the mailed fist of the Glovers . . . and the twin towers of Frey, blue on grey. So much for his father's certainty that Lord Walder would not bestir himself. The white of House Stark was seen everywhere, the grey direwolves seeming to run and leap as the banners swirled and streamed from the high staffs. Where is the boy? Tyrion wondered. A warhorn blew. Haroooooooooooooooooooooooo, it cried, its voice as long and low and chilling as a cold wind from the north. The Lannister trumpets answered, da-DA da-DA da-DAAAAAAAAA, brazen and defiant, yet it seemed to Tyrion that they sounded somehow smaller, more anxious. He could feel a fluttering in his bowels, a queasy liquid feeling; he hoped he was not going to die sick. As the horns died away, a hissing filled the air; a vast flight of arrows arched up from his right, where the archers stood flanking the road. The northerners broke into a run, shouting as they came, but the Lannister arrows fell on them like hail, hundreds of arrows, thousands, and shouts turned to screams as men stumbled and went down. By then a second flight was in the air, and the archers were fitting a third arrow to their bowstrings. The trumpets blared again, da-DAAA da-DAAA da-DA da-DA da-DAAAAAAA. Ser Gregor waved his huge sword and bellowed a command, and a thousand other voices screamed back at him. Tyrion put his spurs to his horse and added one more voice to the cacophony, and the van surged forward. â€Å"The river!† he shouted at his clansmen as they rode. â€Å"Remember, hew to the river.† He was still leading when they broke a canter, until Chella gave a bloodcurdling shriek and galloped past him, and Shagga howled and followed. The clansmen charged after them, leaving Tyrion in their dust. A crescent of enemy spearmen had formed ahead, a double hedgehog bristling with steel, waiting behind tall oaken shields marked with the sunburst of Karstark. Gregor Clegane was the first to reach them, leading a wedge of armored veterans. Half the horses shied at the last second, breaking their charge before the row of spears. The others died, sharp steel points ripping through their chests. Tyrion saw a dozen men go down. The Mountain's stallion reared, lashing out with iron-shod hooves as a barbed spearhead raked across his neck. Maddened, the beast lunged into the ranks. Spears thrust at him from every side, but the shield wall broke beneath his weight. The northerners stumbled away from the animal's death throes. As his horse fell, snorting blood and biting with his last red breath, the Mountain rose untouched, laying about him with his two-handed greatsword. Shagga went bursting through the gap before the shields could close, other Stone Crows hard behind him. Tyrion shouted, â€Å"Burned Men! Moon Brothers! After me!† but most of them were ahead of him. He glimpsed Timett son of Timett vault free as his mount died under him in full stride, saw a Moon Brother impaled on a Karstark spear, watched Conn's horse shatter a man's ribs with a kick. A flight of arrows descended on them; where they came from he could not say, but they fell on Stark and Lannister alike, rattling off armor or finding flesh. Tyrion lifted his shield and hid beneath it. The hedgehog was crumbling, the northerners reeling back under the impact of the mounted assault. Tyrion saw Shagga catch a spearman full in the chest as the fool came on at a run, saw his axe shear through mail and leather and muscle and lungs. The man was dead on his feet, the axehead lodged in his breast, yet Shagga rode on, cleaving a shield in two with his left-hand battle-axe while the corpse was bouncing and stumbling bonelessly along on his right. Finally the dead man slid off. Shagga smashed the two axes together and roared. By then the enemy was on him, and Tyrion's battle shrunk to the few feet of ground around his horse. A man-at-arms thrust at his chest and his axe lashed out, knocking the spear aside. The man danced back for another try, but Tyrion spurred his horse and rode right over him. Bronn was surrounded by three foes, but he lopped the head off the first spear that came at him, and raked his blade across a second man's face on his backslash. A thrown spear came hurtling at Tyrion from the left and lodged in his shield with a woody chunk. He wheeled and raced after the thrower, but the man raised his own shield over his head. Tyrion circled around him, raining axe blows down on the wood. Chips of oak went flying, until the northerner lost his feet and slipped, failing flat on his back with his shield on top of him. He was below the reach of Tyrion's axe and it was too much bother to dismount, so he left him there and rode after another man, taking him from behind with a sweeping downcut that sent a jolt of impact up his arm. That won him a moment's respite. Reining up, he looked for the river. There it was, off to the right. Somehow he had gotten turned around. A Burned Man rode past, slumped against his horse. A spear had entered his belly and come out through his back. He was past any help, but when Tyrion saw one of the northerners run up and make a grab for his reins, he charged. His quarry met him sword in hand. He was tall and spare, wearing a long chainmail hauberk and gauntlets of lobstered steel, but he'd lost his helm and blood ran down into his eyes from a gash across his forehead. Tyrion aimed a swipe at his face, but the tall man slammed it aside. â€Å"Dwarf,† he screamed. â€Å"Die.† He turned in a circle as Tyrion rode around him, hacking at his head and shoulders. Steel rang on steel, and Tyrion soon realized that the tall man was quicker and stronger than he was. Where in the seven hells was Bronn? â€Å"Die,† the man grunted, chopping at him savagely. Tyrion barely got his shield up in time, and the wood seemed to explode inward under the force of the blow. The shattered pieces fell away from his arm. â€Å"Die!† the swordsman bellowed, shoving in close and whanging Tyrion across the temple so hard his head rang. The blade made a hideous scraping sound as he drew it back over the steel. The tall man grinned . . . unt il Tyrion's destrier bit, quick as a snake, laying his cheek bare to the bone. Then he screamed. Tyrion buried his axe in his head. â€Å"You die,† he told him, and he did. As he wrenched the blade free, he heard a shout. ‘Eddard!† a voice rang out. â€Å"For Eddard and Winterfell!† The knight came thundering down on him, swinging the spiked ball of a morningstar around his head. Their warhorses slammed together before Tyrion could so much as open his mouth to shout for Bronn. His right elbow exploded with pain as the spikes punched through the thin metal around the joint. His axe was gone, as fast as that. He clawed for his sword, but the morningstar was circling again, coming at his face. A sickening crunch, and he was falling. He did not recall hitting the ground, but when he looked up there was only sky above him. He rolled onto his side and tried to find his feet, but pain shuddered through him and the world throbbed. The knight who had felled him drew up above him. â€Å"Tyrion the Imp,† he boomed down. â€Å"You are mine. Do you yield, Lannister?† Yes, Tyrion thought, but the word caught in his throat. He made a croaking sound and fought his way to his knees, fumbling for a weapon. His sword, his dirk, anything . . . â€Å"Do you yield?† The knight loomed overhead on his armored warhorse. Man and horse both seemed immense. The spiked ball swung in a lazy circle. Tyrion's hands were numb, his vision blurred, his scabbard empty. â€Å"Yield or die,† the knight declared, his flail whirling faster and faster. Tyrion lurched to his feet, driving his head into the horse's belly. The animal gave a hideous scream and reared. It tried to twist away from the agony, a shower of blood and viscera poured down over Tyrion's face, and the horse fell like an avalanche. The next he knew, his visor was packed with mud and something was crushing his foot. He wriggled free, his throat so tight he could scarce talk. † . . . yield . . . † he managed to croak faintly. â€Å"Yes,† a voice moaned, thick with pain. Tyrion scraped the mud off his helm so he could see again. The horse had fallen away from him, onto its rider. The knight's leg was trapped, the arm he'd used to break his fall twisted at a grotesque angle. â€Å"Yield,† he repeated. Fumbling at his belt with his good hand, he drew a sword and flung it at Tyrion's feet. â€Å"I yield, my lord.† Dazed, the dwarf knelt and lifted the blade. Pain hammered through his elbow when he moved his arm. The battle seemed to have moved beyond him. No one remained on his part of the field save a large number of corpses. Ravens were already circling and landing to feed. He saw that Ser Kevan had brought up his center in support of the van; his huge mass of pikemen had pushed the northerners back against the hills. They were struggling on the slopes, pikes thrusting against another wall of shields, these oval and reinforced with iron studs. As he watched, the air filled with arrows again, and the men behind the oak wall crumbled beneath the murderous fire. â€Å"I believe you are losing, ser,† he told the knight under the horse. The man made no reply. The sound of hooves coming up behind him made him whirl, though he could scarcely lift the sword he held for the agony in his elbow. Brorm reined up and looked down on him. â€Å"Small use you turned out to be,† Tyrion told him. â€Å"It would seem you did well enough on your own,† Bronn answered. â€Å"You've lost the spike off your helm, though.† Tyrion groped at the top of the greathelm. The spike had snapped off clean. â€Å"I haven't lost it. I know just where it is. Do you see my horse?† By the time they found it, the trumpets had sounded again and Lord Tywin's reserve came sweeping up along the river. Tyrion watched his father fly past, the crimson-and-gold banner of Lannister rippling over his head as he thundered across the field. Five hundred knights surrounded him, sunlight flashing off the points of their lances. The remnants of the Stark lines shattered like glass beneath the hammer of their charge. With his elbow swollen and throbbing inside his armor, Tyrion made no attempt to join the slaughter. He and Bronn went looking for his men. Many he found among the dead. Ulf son of Umar lay in a pool of congealing blood, his arm gone at the elbow, a dozen of his Moon Brothers sprawled around him. Shagga was slumped beneath a tree, riddled with arrows, Conn's head in his lap. Tyrion thought they were both dead, but as he dismounted, Shagga opened his eyes and said, â€Å"They have killed Conn son of Coratt.† Handsome Conn had no mark but for the red stain over his breast, where the spear thrust had killed him. When Bronn pulled Shagga to his feet, the big man seemed to notice the arrows for the first time. He plucked them out one by one, cursing the holes they had made in his layers of mail and leather, and yowling like a babe at the few that had buried themselves in his flesh. Chella daughter of Cheyk rode up as they were yanking arrows out of Shagga, and showed them four ears she had taken. Timett they discovered looting the bodies of the slain with his Burned Men. Of the three hundred clansmen who had ridden to battle behind Tyrion Lannister, perhaps half had survived. He left the living to look after the dead, sent Bronn to take charge of his captive knight, and went alone in search of his father. Lord Tywin was seated by the river, sipping wine from a jeweled cup as his squire undid the fastenings on his breastplate. â€Å"A fine victory,† Ser Kevan said when he saw Tyrion. â€Å"Your wild men fought well.† His father's eyes were on him, pale green flecked with gold, so cool they gave Tyrion a chill. â€Å"Did that surprise you, Father?† he asked. â€Å"Did it upset your plans? We were supposed to be butchered, were we not?† Lord Tywin drained his cup, his face expressionless. â€Å"I put the least disciplined men on the left, yes. I anticipated that they would break. Robb Stark is a green boy, more like to be brave than wise. I'd hoped that if he saw our left collapse, he might plunge into the gap, eager for a rout. Once he was fully committed, Ser Kevan's pikes would wheel and take him in the flank, driving him into the river while I brought up the reserve.† â€Å"And you thought it best to place me in the midst of this carnage, yet keep me ignorant of your plans.† â€Å"A feigned rout is less convincing,† his father said, â€Å"and I am not inclined to trust my plans to a man who consorts with sellswords and savages.† â€Å"A pity my savages ruined your dance.† Tyrion pulled off his steel gauntlet and let it fall to the ground, wincing at the pain that stabbed up his arm. â€Å"The Stark boy proved more cautious than I expected for one of his years,† Lord Tywin admitted, â€Å"but a victory is a victory. You appear to be wounded.† Tyrion's right arm was soaked with blood. â€Å"Good of you to notice, Father,† he said through clenched teeth. â€Å"Might I trouble you to send for your maesters? Unless you relish the notion of having a one-armed dwarf for a son . . . â€Å" An urgent shout of â€Å"Lord Tywin!† turned his father's head before he could reply. Tywin Lannister rose to his feet as Ser Addam Marbrand leapt down off his courser. The horse was lathered and bleeding from the mouth. Ser Addam dropped to one knee, a rangy man with dark copper hair that fell to his shoulders, armored in burnished bronzed steel with the fiery tree of his House etched black on his breastplate. â€Å"My liege, we have taken some of their commanders. Lord Cerwyn, Ser Wylis Manderly, Harrion Karstark, four Freys. Lord Hornwood is dead, and I fear Roose Bolton has escaped us.† â€Å"And the boy?† Lord Tywin asked. Ser Addam hesitated. â€Å"The Stark boy was not with them, my lord. They say he crossed at the Twins with the great part of his horse, riding hard for Riverrun.† A green boy, Tyrion remembered, more like to be brave than wise. He would have laughed, if he hadn't hurt so much.

Dupont Analysis Essay

A satisfactory return on assets might be divided through a high profit margin , or a rapid turnover of assets, or a combination of both. The Du Pont system causes the analyst to examine the sources of a company’s profitability. Since the profit margin is an income statement ratio, a high profit margin indicates good cost control, whereas a high asset turnover ratio demonstrates efficient use of the assets on the balance sheet. Different industries have different operating and financial structures. For example, in the heavy capital goods industry the emphasis is on a high profit margin with a low asset turnover—whereas in food processing, the profit margin is low and the key to satisfactory returns on total assets is a rapid turnover of assets. Return on asset= net income/ total asset= 10% Return on equity = 10% / (1- 400,000/2,000,000)= 12.5% There are many advantages of Dupont analysis; the Dupont method allows an investor to see which particular components of the business are profitable or efficient, as well as those that are not. The Dupont ratio equation also allows the analyst to see the overall strategy for a company. For example, a company with a high asset turnover and a low profit margin is a company whose strategy depends upon the bulk selling of cheaper products.

Earthquake in Chile Essays

Earthquake in Chile Essays Earthquake in Chile Essay Earthquake in Chile Essay Earthquakes The motion of the Earth s tectonic home bases causes temblors. Earthquakes occur where home bases meet along home base boundaries. F.e when two home bases move towards each other, one home base can be pushed down beneath the other home base, into the mantle: this is a subduction zone. If this home base gets stuck under the other one, it causes a batch of force per unit area on the environing stones. When this force per unit area will be released it will bring forth daze moving ridges. These daze moving ridges are called seismal moving ridges. This is what we call an temblor. Plate boundaries The topographic point where two or more home bases meet, is known as a home base boundary. There are four types of home base boundaries: constructive, destructive, conservative and hit home base boundaries. About all temblors occur near to plate boundaries. Earthquake in Chile The temblor in Chile was caused by subduction. At the west seashore of Chile, three tectonic home bases meet: Antarctic home base, South American home base and the Nazca home base. Chile is located at a convergent home base boundary ( a destructive home base boundary ) . The Peru-Chile trench is caused by the subduction of the pelagic Nazca home base under the Continental South American Plate. This motion causes seismicity and volcanism in Chile, bring forthing astonishing temblors. This is a typical illustration of a continental-oceanic subduction zone. This temblor was the biggest 1 that hit Chile in over 50 old ages. Measuring temblors The magnitude of an temblor is measured with a seismometer. This machine measures motions in the surface of the Earth. The Richter graduated table steps earthquakes on a logarithmic graduated table. This means that an temblor of 5 is ten times more powerful than one of 6 on the graduated table of Richter. Most people express the magnitude with this graduated table. The 2010 Haiti temblor had a ruinous magnitude of 7.0.The Chile temblor was measured 8.8, this means there is about a widespread devastation. It was one of the strongest temblors that were of all time recorded. If we must believe Chilean governments, over 300 people have been killed. Richter Scale: Magnitude Damage 4 This magnitude temblor is widely felt and is strong plenty to check plaster. 5 A strong quiver shakes the Earth, damaging chimneys and weak edifices. 6 This temblor is strong plenty to severely damage mean edifices. 7 This temblor is strong plenty to destruct even good built constructions. 8 Even particular, earthquake-resistant edifices will be severely damaged. 9 There is widespread devastation. History of temblors Chile is a really active home base boundary, so it s a perfect topographic point for temblors. Chile is located in the alleged Ring of fire, an country in the Pacific where there are a batch of temblors and volcanic eruptions. The names of the home bases are in white. You can see the Nazca home base is doing subduction ( bluish line with trigons ) , because it goes under the South American home base ( Am A ; eacute ; rique du Sud ) . Tsunami Yes, there is a opportunity on a tsunami The temblor happened near a home base boundary. Because of home base tectonics, one home base can drop deeper, so there becomes a difference in sea degree. Bibliography hypertext transfer protocol: //andrevandelft.files.wordpress.com/2008/11/earthquake_depth.png hypertext transfer protocol: //news.bbc.co.uk/2/hi/8540289.stm hypertext transfer protocol: //en.wikipedia.org/wiki/List_of_earthquakes_in_Chile ttp: //s.ngeo.com/wpf/media-live/photologue/photos/2010/03/02/cache/23047_600x450-cb1267561459.jpg hypertext transfer protocol: //www.stratfor.com/files/mmf/1/2/12b92bbe141fcccef515d7d9f927de8434bf3a50.jpg hypertext transfer protocol: //english.ruvr.ru/2010/03/02/4961912.html hypertext transfer protocol: //www.telegraph.co.uk/news/worldnews/southamerica/chile/7331231/Chile-earthquake-tsunami-warnings-trigger-evacuations-across-Pacific.html

Macroeconomics Essay Example | Topics and Well Written Essays - 250 words - 5

Macroeconomics - Essay Example While this was unfavourable for many investors who had invested in treasury bills, it provided an opportunity for investment banks to borrow money at this low interest rate and invest in real estate industry where they would get good returns. In this case, the bank would turn the borrowed money into securities which it would sell to home owners and get regular payments from all those mortgages. Initially, this turned out to be a highly profitable venture for both the lenders and the banks with up to 10% return on investment. However, with time most people who could afford a mortgage had taken one and this caused a reduction in the number of new mortgage applicants. This compelled the banks to open up the mortgages to other potential home owners by removing all restrictions on securities. This encouraged many home owners to take up mortgages. Unfortunately, many could not afford to repay the mortgages. This led to a high number of defaulters and higher-than-expected home foreclosure rates. Suddenly, there were too many homes up for sale in the market which exceeded the demand thereby resulting in a decline in the home value. The financial market had a major role to play in the 2007 great recession. First, the low interest rates offered by the central bank in response to the 9/11 tragedy fuelled the already rising housing bubble by the sub-prime mortgages and the related derivatives. In addition, the absence of regulation of the financial institutions involved in the sub-prime mortgage lending led to unprecedented growth of the real estate market and so did fraud. The bursting of the housing bubble led to meltdown of the three principal derivative securities that had guarded the industry, namely Collateralized Debt Obligation (CDO), Mortgage Backed Securities (MBS) and Credit Default Swap (CDS) which eventually paralyzed the very supple and resilient financial market with its spill over into the entire

Securities Analysis and Portfolio Management Essay

Securities Analysis and Portfolio Management - Essay Example Louis is no longer working as a stock broker and Simon is now using the services of Cheryl who has strong views about Simon’s portfolio. Cheryl, a graduate in finance from York University, believes that markets are essentially efficient and admires the work of Harry Markowitz and Fama and French. She believes that the important thing is to have a good portfolio rather than good individual investments. Cheryl tells Simon that she doesn’t feel that he even has the best companies now even if they had been when the portfolio had been set up. Cheryl goes on to say that that a good portfolio needs to include exposure to overseas companies and smaller companies thus reducing the â€Å"beta† and improving the â€Å"alpha† of the portfolio. Cheryl also argued that it is vital to watch the â€Å"momentum† and have stop-losses on all the holdings in order to protect against primary downside movements. Simon is very concerned about his share holdings after talk ing to Cheryl and has approached you for advice. You ascertain that Simon, who doesn’t work, is 65 years old and is receiving a more than adequate income from his existing portfolio. Simon rents a flat in a seaside resort and does not wish to buy property. Simon is not willing to take on any additional risk. In addition to the shares discussed above Simon has ?14,000 in a bank account and ?300,000 in medium dated conventional gilts. Simon has two children from his short lived marriage to Susan who both have well paid jobs. Simon does not wish to transfer assets to his children as he would prefer to support any future grandchildren he has through their education. Simon’s ten equity holdings are: Company PE Ratio Dividend Yield Dividend Cover Equity Market Capitalisation (?m) BAE Systems 7.9 4.96% 2.5 11,003 BP 7.2 8.84% 1.6 77,353 British American Tobacco 15.4 4.2% 1.5 47,264 BT Group 7.6 4.89% 2.7 10,956 Diageo 14.8 3.47% 1.9 66,234 GlaxoSmithKline 10.5 4.78% 2.0 66,23 4 HSBC 29.9 3.34% 1.0 116,479 Marks and Spencer 10.9 4.16% 2.2 5,705 Rolls Royce 14.7 2.56% 2.6 10,847 Unilever 16.1 2.31% 3.2 23,281 Required: (a) With relevant statistics, discuss the strengths and weaknesses of Simon’s existing portfolio above (make reference to eps/dps growth; betas; price performance; and sector spread of the ten shareholdings). (35 marks) Simon’s stock portfolio has been constructed according to the established views of modern portfolio theory, which seeks â€Å"alpha† by selecting stock holdings in companies that will outperform the return of the general stock indices or interest rates over time. Modern portfolio theory is based in the tenets of risk management, which analyze security investments according to â€Å"beta† or the volatility of stock pricing due to company specific business activities, market factors, macroeconomic changes, natural disasters, wars, etc. Investors have different expectations, personal, and professional motivations in building their investments and with this also comes varying appetites or tolerances for risk. Modern portfolio theory was developed largely before ETF vehicles existed to track index performance through large, distributed