Monday, December 30, 2019

A Relationship Based On Paternalism And Condescension...

What was once a relationship based on paternalism and condescension between Ashkenazi and Mizrahi Jews has gradually transformed into a more leveled socioeconomic platform between the two ethnic groups. The Jews of Ashkenazi descent, mainly from Eastern European countries and Britain, arrived in the decades before the creation of the State of Israel and were able to rapidly create a new society. Shortly after Israel’s independence, massive waves of Jewish immigrants flooded the country, of which a large part were Mizrahim Jews from North Africa and the Middle East fleeing discrimination in Arab lands. The dominant Ashkenazim viewed the incoming Mizrahi Jews as backwards and burdensome to the newly-founded country’s cultural and economic image and took measures to make them conform to their customs. This process of conditioning ultimately led to a wide socioeconomic gap between the two groups that prompted political clashes and riots. Recent trends and changes in the cou ntry’s political structure have narrowed the gap and point toward equal opportunities between Mizrahi Jews and Ashkenazi Jews. Originating in Europe, Zionism was embedded with Western-leaning principles that aimed at coalescing the Jews of the Diaspora into one unified and modernized Jewish identity within Israel. When it was introduced to the old Yishuv, it reflected the Ashkenazim political and cultural values, including â€Å"liberal democracy and national self-determination† and therefore assured their success

Sunday, December 22, 2019

Analyze the ethical violations of the company you...

Analyze the ethical violations of the company you researched. I’m trying to briefly analyze the ethical violation that happened more than a decade ago with company called Enron. It was first established as an interstate pipeline company. In the following 2 decades, Enron grew with high rates and soon became one of the biggest energy traders in the world. Enron won many titles for the short period of time being a leader in electricity, natural gas and communications. Now, let’s switch to negative part of the Enron and see what led this company to ethical violations. Because of an increased tough competition Enron started using international investments and diversification in order to keep its position. Some faulty decisions in management†¦show more content†¦As we researched the consequences were bankruptcy and losing jobs for many employees, not talking about the investors who lost billions. That moment senior management had to take quick specific ways to improve the situation. Firm was already dead by the time SEC started the investigation against top managers who screwed by making fake papers with revenue overstatements. The result of this ethical issue with Enron required the senior management a balanced effort in a way that it could minimize the loss and harm as a consequence from decisions that had been taken by previous management. According to this treatment, when management makes decisions, it has to consider interests of all involved parties who are affected by that changes and choose the actions which can maximize profit and all benefits along with it. They have to do the most good that they can. It is a big ethical dilemma—defending company’s own interest with a predicted damage to all the investors, or simply taking care of most of stakeholder’s benefits and leaving their own short term interest. According to the Utilitarian Theory, the answer is obvious. 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Saturday, December 14, 2019

The Problems of Lima City Free Essays

The problems of Lima city Lima city is full of charm and scenic beauty, so visitors from around the world come to enjoy its typical dishes, museums,countless beaches and scenic wonders. Although Lima seems like a paradise,Not all what we find there is as as good as we think. Believe it or not, but Lima has several serious problems such as the poor public transportation,crime-violence and the bad infrastructure due to the lots of suburbs and places that have lack of lots of services. We will write a custom essay sample on The Problems of Lima City or any similar topic only for you Order Now The first and most important problem in lima is its inadequate public transportation system. Thousand of residents rely on the city’s buses and minibuses to travel throughout this large city, however the bus routes are poorly planned wich cause rush hours and traffic. For example: a person who should take the bus at 7:45 am may not take it until eight o’clock or even later. Sometimes three or more buses or minibuses arrive in bunches at time that people are waiting, but they can’t the buses because they are full. That’s why, passengers frequently become unhappy become this problem causes them to be late for work or to miss important appointments. THE TRANSPORTATION,2010 ISABEL GUERRA The second serious problem that Lima faces is crime and violence. The security in Lima has declined in the last years because police corruption have increased in line with rising level of poverty. Besides the profileration of low-income settlements wich are known as â€Å"barriadas† that have as members young people that steal.. Nowadays, we can see lots of people who are complaining about the security in this city. According to some city polls, 82% of people who live in Lima say that they were robbed at least once while they were walking around the streets of this â€Å"insecure† city. Not only that, but people are also concerned about leaving home alone. To illustrate it, more than 50% houses were robbed during the last holydays. So to wrap out this, people are not secure neigher on the streets nor at home. BULLETIN OF LATIN AMERICAN RESEARCH VOL. 27, NO. 2 The final problem is the lack of good infrastructure of housing and services in Lima. This is an interesting city that offers a good lifestyle for young, ambitious business and professional people. Also, immigrants are attracted to this city because is has tourist attractions and offers variety of typical dishes. All of these tourists or immigrants would need rental units that are in good conditions like apartments, flats and single family houses. But, unfortunately, Lima’s rental units have an old infrastructure. That’s why most of the buildings of Lima downtown are declarated in danger. Even though this, we insist on living in those old buildings. That is not secure for all the people who live, work or go to those places at all. â€Å"LIMA:BIG CITY AND BIG PROBLEM†, 2000 GILBERT A. In conclusion, Lima city must improve its public transit system for avoiding the traffic, develop a project to become places safe and housing in good conditions. In others words, Lima city must improve its image, or it will soon become just mediocre city due to the lack of administrative responsability to solve these problems. . How to cite The Problems of Lima City, Papers

Thursday, December 5, 2019

Principles of Corporate Finance Market Price Bond

Question: Describe about the Principles of Corporate Finance for Market Price Bond. Answer: 1. Face value of the bonds = $ 1000 Coupon payment = 15% of 1000 = $ 150 paid semi-annually Time remaining to maturity = 4 years Current market price of the bond = $890 Hence, YTM would be the discount rate at which the present value of the expected payments from the bond would be equal to $ 890 (Damodaran, 2008). This comes out as 20.27% pa from the calculation shown below. Half Year Cash inflow PV of cash flows 1 75 68.10 2 75 61.83 3 75 56.14 4 75 50.97 5 75 46.28 6 75 42.02 7 75 38.15 8 1075 496.51 Total 860.00 Thus, YTM = 20.27%pa. 2. As per Fischer effect equation, (1+Real Interest Rate)*(1+Inflation rate) = (1+Nominal Interest Rate) Hence, (1+Real Interest Rate)*(1.03) = 1.14 Thus, 1+Real Interest Rate = 1.1068 Solving the above, Real interest rate = 10.68% pa 3. Let the price today be $ X Thus, Return on Stock = [(Next year price - Current Price + Dividend)/Current Price]*100 Here, next year price = $ 78, Dividend = $ 6, Return on stock = 10% Hence, 0.1 = (78-X+6)/X Solving the above, we get X = $ 76.36 4. As per the information given, EMI = $ 220, Principal = $ 5,000, Interest rate per month= 2% We use the formula for EMI which is stated below EMI = P*R*(1+R)N/((1+R)N -1) Here N is the time period in months which is unknown Hence, 220 = 5000*0.02*(1.02)N/[(1.02)N-1] Solving the above we get, N = 30.59 months or 31 months Nominal Annual Interest Rate = Monthly rate * 12 = 2* 12 = 24% pa Annual Effective Rate = [(1+0.02)12 -1] = 26.82% pa 5. As per the question, money to the tune of $ 4,000 would be deposited at the end of 2nd, 3rd and 4th year. Starting amount in the account at the beginning of the 1st year = $ 7,000 Interest rate = 8% pa Hence, amount at the end of the three years = 7000(1.08)3 + 4000(1.08) + 4000 = $ 17,138 Amount at the end of the four years = 7000(1.08)4 + 4000(1.08)2 + 4000(1.08)+ 4000 = $ 22,509 6. Expected Sales = $ 600,000 Hence, current assets = 0.65*600000 = $ 390,000 Fixed assets = $ 1,600,000 Thus, total assets = 1,600,000 + 390,000 = $ 1,990,000 EBIT = 0.18*600000 = $ 108,000 Non-current liabilities = 0.45*Fixed Assets = 0.45*1,600,000 = $ 720,000 Hence, interest expense = 0.07*720000 = $50,400 Hence, PBT (Profit before tax) = EBIT interest = 108000 50400 = $ 57,600 Since no tax is applicable for the company, hence PBT and PAT are equal. ROA = (Net profit or PAT/Total Assets)*100 = (57600/1990000)*100 = 2.89% 7. The relevant model to be used is Gordon Dividend Growth Model. As per this model, Intrinsic market price = Next year dividend /(Required return Dividend Growth Rate) Next year dividend = 1.8*1.04 = $ 1.872 Price of share = 1.872/(0.16-0.04) = $ 15.6 8. The various benefits of a just in time inventory system are highlighted below (Brealey, Myers Allen, 2008). The inventory holding costs are minimised since the inventory stock held is minimal. There is high inventory turnover and hence minimal inventory obsolescence. The cash investment in terms of inventory is lower which provides additional liquidity to the company. The mistakes in the production are easier to spot which saves time and fixing costs. The various costs of a just in time inventory system are highlighted below (Parrino Kidwell, 2011). Significant delays if the supplier cannot supply the inventory on time An elaborate end to end IT infrastructure is required for the integration of the client and supplier so that orders are automatically placed based on the orders received. Any unexpected increase in demand in product may have adverse consequences since the availability of inventory cannot be increased at short notices specially where there is little in way of idle capacity. 9. The nominal value of the investment does not consider the impact of time value of money and hence is equal to the sum of all cash inflows = 10000 + 15000 + 11000 + 20000 = $ 56,000 The appropriate amount that B should pay for this investment is equal to the present value of these investments. The expected returns on the investment is given as 6% pa Appropriate amount = 10000/1.065 + 15000/1.066 + 11000/1.067 + 20000/1.068 = $ 37,910.9 Assuming that the opportunity cost of money or time value of money is zero, hence maximum amount payable is equal to the nominal value or $ 56,000 (Petty et. al., 2015). References Brealey, R, Myers, S Allen, F 2008, Principles of Corporate Finance (Global edition), 10th edn, McGraw Hill Publications, New York Damodaran, A 2008, Corporate Finance, 2nd edn, Wiley Publications, London Parrino, R Kidwell, D 2011, Fundamentals of Corporate Finance, 3rd edn, Wiley Publications, London Petty, JW, Titman, S, Keown, AJ, Martin, P, Martin JD Burrow, M 2015, Financial Management: Principles and Applications,6th edn, Pearson Australia, Sydney