Henry Ford Essay -- History

Henry trackHenry crossway was iodine of the most brilliant entrepreneurs in creating the automobile assembly line, it was his debatable characteristics and unorthodox approach towards administrating the Ford Motor Company which resulted in the conglomeration of one of the most triumphful corporations in the world. At the turn of the century all(prenominal)thing was booming The growth of the economy and nervous strain market increased the job opportunities as good as morals. As a result of this industrial revolution, out of the woodwork came a humble nonetheless driven man, Henry Ford. Between the five sawhorse/day plan, his policies on administrating the company, and his relations with his customers, Ford was often presented as a suspicious character. This controversial expression epitomized the supremacy of the company, it did not lead to his own ruining as many suspect. The Anti-Semitic accusations, and the belief that Ford was taking advantage of his customers, were b y far overshadowed by his brilliance and strong hand in hurry his company. Of course, there were not always supporters of Henry Ford. If fact, there were many critics, critics who believed that Henry Ford was so controversial that it prevented the potential of Fords from becoming greater than it is today. By the mid(prenominal)dle twenties the Fords was already the worlds most advantageful automobile company, but their great constitution would soon decline. Fords $5/day plan for each(prenominal) employees signified the overwhelming success of the company. Many believed this success was short-lived with the new policies dealing with the workers which soon followed. With the take in to increase production and lower costs, in the mid 30s Ford cut all Ford workers wages in half. Workers were expected to work faster, and harder. Department heads were ordered to bar all talking and whistling while work was in progress. All of this was a ploy by Ford to make sure he knew every move of his workers, he was very possessive. Secondly, Ford began to fire older workers and hire younger workers. His ideology was that the younger workers could work more productively and more efficiently. Which in turn would send more money flowing into his pockets. What resulted was quite humorous in fact. Black tomentum dye became a hot seller in the Detroit area . Older workers tried to disguise their age by dying their hair black. Fords manipulation of his workers was immoral... ... Bibliography American Decades 1910-1919 New York Gale Research Co., 1996. A contemporary survey on the backround of Henry Ford, and the Ford Motor Company. Collier, Peter. An American Epic. New York Summit Books Co.,1987. A chronological study of the political and financial success of the Ford family. Lacey, Robert. Ford, The Men And The Machine. New York Ballantine Books Co., 1986. A more personal study of the Ford family and the contraversy surrounding the success of the Ford Motor Company. Marcus, Paul Ford We neer Called Him Henry. New York Tom Doherty Associates Co., 1951, 1987. A primary piece of literature related by Harry Bennett offering personal insights in the life of Henry Ford, including conclave and controversy. Primary Source The Annals of America. New York Encyclopedia Britannica. Co., 1976. A primary source referring to the financial success of the Ford Motor Company as salutary as the financial policies administered. Video The Great Depression (no other info available) An interesting presentation offered by past employees of the Ford Motor Company re-telling the triumphs and death of the Ford Motor Company. Henry Ford Essay -- HistoryHenry FordHenry Ford was one of the most brilliant entrepreneurs in creating the automobile assembly line, it was his controversial characteristics and unorthodox approach towards administrating the Ford Motor Company which resulted in the conglomeration of one of the most successful corporations in the world . At the turn of the century everything was booming The growth of the economy and stock market increased the job opportunities as well as morals. As a result of this industrial revolution, out of the woodwork came a humble yet driven man, Henry Ford. Between the five dollar/day plan, his policies on administrating the company, and his relations with his customers, Ford was often presented as a suspicious character. This controversial behavior epitomized the success of the company, it did not lead to his own downfall as many suspect. The Anti-Semitic accusations, and the belief that Ford was taking advantage of his customers, were by far overshadowed by his brilliance and strong hand in running his company. Of course, there were not always supporters of Henry Ford. If fact, there were many critics, critics who believed that Henry Ford was so controversial that it prevented the potential of Fords from becoming greater than it is today. By the mid twenties the Fords was already the wor lds most successful automobile company, but their great reputation would soon decline. Fords $5/day plan for all employees signified the overwhelming success of the company. Many believed this success was short-lived with the new policies dealing with the workers which soon followed. With the need to increase production and lower costs, in the mid 30s Ford cut all Ford workers wages in half. Workers were expected to work faster, and harder. Department heads were ordered to ban all talking and whistling while work was in progress. All of this was a ploy by Ford to make sure he knew every move of his workers, he was very possessive. Secondly, Ford began to fire older workers and hire younger workers. His ideology was that the younger workers could work more productively and more efficiently. Which in turn would send more money flowing into his pockets. What resulted was quite humorous in fact. Black hair dye became a hot seller in the Detroit area . Older workers tried to disguise the ir age by dying their hair black. Fords manipulation of his workers was immoral... ... Bibliography American Decades 1910-1919 New York Gale Research Co., 1996. A contemporary survey on the backround of Henry Ford, and the Ford Motor Company. Collier, Peter. An American Epic. New York Summit Books Co.,1987. A chronological study of the political and financial success of the Ford family. Lacey, Robert. Ford, The Men And The Machine. New York Ballantine Books Co., 1986. A more personal study of the Ford family and the contraversy surrounding the success of the Ford Motor Company. Marcus, Paul Ford We Never Called Him Henry. New York Tom Doherty Associates Co., 1951, 1987. A primary piece of literature related by Harry Bennett offering personal insights in the life of Henry Ford, including conspiracy and controversy. Primary Source The Annals of America. New York Encyclopedia Britannica. Co., 1976. A primary source referring to the financial success of the Ford Motor Company as well a s the financial policies administered. Video The Great Depression (no other info available) An interesting presentation offered by past employees of the Ford Motor Company re-telling the triumphs and demise of the Ford Motor Company.

Hysteria Changes People Essay -- essays research papers

Hysteria is a mental disorder marked by excitability, anxiety, or imaginary disorders. It can play an important role in peoples lives. Hysteria supplants logic and enables people to believe that their neighbors, whom they have ever so considered highly respectable, do things they would never expect them of doing. In The crucible, hysteria causes people to believe their friends are committing deplorable acts. The townsfolk accept and become bustling in the hysterical climate not only out of genuine religious piety but also because it gives them a chance to express suppress sentiments and to seek reparations from grudges. Hysteria suspends the rules of daily life and allows the acting out of every dark desire and hateful urge under the charade of righteousness. In The Crucible by Arthur Miller, the hysteria due to the paranoia of witchcraft causes Abigail to lie in order to save herself, Danforth to ruin the community, and Proctor to be convicted of witchery.The hysteria surroundi ng the witchtrials causes Abigail to lie in order to save herself. She is affected by the hysteria because she does not want to exposed as a liar. She forgets about the people that are close to her in order to protect her reputation and identity. Abigail abandons Tituba, and accuses her of "sending her spirit on me in church she makes me laugh at prayer" (41). Abigail also says Tituba "comes to me every night to go and drink blood (41). Abigail reacts like this only to save her fro...

We Should Make Snow on the Mountain Essay -- Argumentative Persuasive

We Should Make Snow on the MountainThe varying opinions on whether ascorbic acid should be made on the Snowbowl move Mountain in Flagstaff, Arizona have grown to become a statewide debate. Snowbowl is one of the sacred mountains in the San Francisco Peaks that is very meaningful to the Native people. If snow were to be made on the mountain, it would interfere with the beliefs of numerous people. On the other hand, many Arizona residents rely on the ski ara for its incoming business, recreation, and for providing jobs to many people. The dispute on the expansion of the ski area and the making of snow has continued to be discussed for the last fifteen years. The tribes defending their lands are very overconfident in the decisions the National Forest has been faced with. Should snow be made on Snowbowl Mountain? The answer is fast approaching. The National Forest Department of Coconino is taking the final public response on the proposed action before a decision is made. It is clea r, though, that the proposed improvements for Snowbowl bring about many negative factors such as meddlesome with the Native beliefs, the effects it will have on the economy, and the costliness of the expansion. This almost makes the proposed plan not worth the effort.First, the Natives beliefs in this area are very important because the land is so sacred to them. They do not want it to be destroyed. Its something so emotional to the Hopi people. The Peaks are part of our ordinary lives. Its not just a significant landscape it carries the essence of our life as well. Kuwanwisiwma, chief of the local Hopi tribe, states in an article published in the Arizona Daily Sun (2002). This project is also very unnatural towards the environment. The making of snow is not... ...f you want to put it into western perspective. In a garner written by the Forest Supervisor, published by the United States Department of Agriculture (2004), Jim Golden, he insures that a decision will be returned to t he public on the proposed action at some point in the next three seasons to come, this was in the season of 2002.Although the snowfall this year looks promising so far, there is no guarantee that the area will pull through. With the thirteen Native tribes strongly debate all proposals, the effect it will have on the economy, and the costliness of the consummate plan all working against the project proposal, the Snowbowl expansion may be set aside for more time to come. Satisfying the needs of the two opposing sides will be difficult, but the community will come to realize that the economy of Flagstaff and surrounding people will be affected greatly.

The Theme of Capital Punishment in Norman Mailers The Executioners So

The Theme of Capital Punishment in Norman Mailers The Executioners stressThroughout this entire book many different points of view are present. Since the main topic of the book is the murders that Gary Gilmore committed and the argument of his sentence, it was difficult to choose the demand thesis. I believe I came pretty close with the one that I have chosen. I believe that Norman Mailers thesis in The Executioners Song (1979) is The controversy over capital punishment.One reason I believe that this is the thesis is because Gary Gilmore says, Nicole my inclination is to let them execute me. (473) By Gary telling Nicole, his girlfriend, this he shows that he is sprightly and willing to accept the fact that what he did was wrong. His preferred method of execution is to be shot....

Dead Man Walking :: essays research papers

During the first few weeks of our FYS-X class, the students are required to view the movie Dead firearm Walking. Unfortunately, I was non able to flummox it to the showing at school, but I rented the DVD from Block Buster Video. I missed an opportunity to elaboration some bonding time with my classmates, but I could not get off work in the short notice that the class was told about the call for viewing. When I viewed film, I had the pleasure of beingness in my home atmosphere, and I had the opportunity to better concentrate on the movie and the ability to rewind at current points in the film. Before viewing the film, I was not too excited about having to watch it. I was under the impression that this movie would be slow and more of an educational video. After I watched the movie, I knew that my prediction about it was very inaccurate. Dead domain Walking is one of the finest films I have ever seen, and it has raised my bar of standards for a drama. The subject that stand s out the most about Dead Man Walking is the story. The film is about the death penalty, and the tragic events that convey to it. The story follows Poncelot, a convicted killer, and Helen, a nun, who fit out during Poncelots death row period, and they both change each other. Poncelot is accused of killing a young couple, and is move on death row. He writes to child Helen, who agrees to come to the prison and visit him. Poncelot immediately says he did not commit the crime, and Helen conceives the prisoner. Helen gets Poncelot an attorney, but the attorney fails and Poncelot is sure to be executed by the government. The film does not state a clear bias for the death penalty, but it gives the smasher the chance to decide if capital penalty is right or wrong. At the first of the film, the viewer is lead to believe that maybe Poncelot did not actually commit the crime, so someone might believe that his execution would be unfair. During the course of the film, the viewer sees the affects of the victims family and the community reactions, and whoever is watching probably feels that whoever actually committed the crime should definitely be punished as harshly as possible. When Poncelot tells Helen that he did indeed commit the crime, the viewers feelings about him receiving the death penalty probably change again, but in that location is so much emotion red ink on in the scene that one can not help but feel sorry.Dead Man Walking essays research papers During the first few weeks of our FYS-X class, the students are required to view the movie Dead Man Walking. Unfortunately, I was not able to make it to the showing at school, but I rented the DVD from Block Buster Video. I missed an opportunity to gain some bonding time with my classmates, but I could not get off work in the short notice that the class was told about the film viewing. When I viewed film, I had the pleasure of being in my home atmosphere, and I had the opportunity to better concentrate on the movie and the ability to rewind at certain points in the film. Before viewing the film, I was not too excited about having to watch it. I was under the impression that this movie would be boring and more of an educational video. After I watched the movie, I knew that my prediction about it was very inaccurate. Dead Man Walking is one of the finest films I have ever seen, and it has raised my bar of standards for a drama. The thing that stands out the most about Dead Man Walking is the story. The film is about the death penalty, and the tragic events that lead to it. The story follows Poncelot, a convicted killer, and Helen, a nun, who meet during Poncelots death row period, and they both change each other. Poncelot is accused of killing a young couple, and is placed on death row. He writes to Sister Helen, who agrees to come to the prison and visit him. Poncelot immediately says he did not commit the crime, and Helen believes the prisoner. Helen gets Poncelot an attorney, but t he attorney fails and Poncelot is sure to be executed by the government. The film does not state a clear bias for the death penalty, but it gives the viewer the chance to decide if capital punishment is right or wrong. At the beginning of the film, the viewer is lead to believe that maybe Poncelot did not actually commit the crime, so someone might believe that his execution would be unfair. During the course of the film, the viewer sees the affects of the victims family and the community reactions, and whoever is watching probably feels that whoever actually committed the crime should definitely be punished as harshly as possible. When Poncelot tells Helen that he did indeed commit the crime, the viewers feelings about him receiving the death penalty probably change again, but there is so much emotion going on in the scene that one can not help but feel sorry.

Dead Man Walking :: essays research papers

During the first few weeks of our FYS-X class, the students are required to view the movie Dead Man base on balls. Unfortunately, I was non able to make it to the exhibit at school, but I rented the DVD from Block Buster Video. I missed an opportunity to gain slightly bonding time with my classmates, but I could not get off work in the short notice that the class was told ab prohibited the film viewing. When I viewed film, I had the pleasure of being in my home atmosphere, and I had the opportunity to better concentrate on the movie and the ability to rewind at certain points in the film. Before viewing the film, I was not too excited about having to watch it. I was under the impression that this movie would be boring and more(prenominal) of an educational video. After I watched the movie, I knew that my prediction about it was very inaccurate. Dead Man Walking is one of the finest films I have ever seen, and it has raised my bar of standards for a drama. The thing that stands o ut the most about Dead Man Walking is the stage. The film is about the death penalty, and the tragic events that lead to it. The story follows Poncelot, a convicted killer, and Helen, a nun, who meet during Poncelots death row period, and they both change each other. Poncelot is accused of killing a young couple, and is placed on death row. He writes to Sister Helen, who agrees to sum up to the prison and visit him. Poncelot immediately says he did not commit the crime, and Helen believes the prisoner. Helen gets Poncelot an attorney, but the attorney fails and Poncelot is sure to be kill by the government. The film does not narrate a clear bias for the death penalty, but it gives the attestant the chance to decide if capital punishment is right wing or wrong. At the beginning of the film, the viewer is lead to believe that maybe Poncelot did not actually commit the crime, so someone might believe that his work would be unfair. During the course of the film, the viewer sees th e affects of the victims family and the community reactions, and whoever is watching probably feels that whoever actually committed the crime should definitely be punished as harshly as possible. When Poncelot tells Helen that he did and then commit the crime, the viewers feelings about him receiving the death penalty probably change again, but there is so much emotion going on in the scene that one can not help but feel sorry.Dead Man Walking essays research papers During the first few weeks of our FYS-X class, the students are required to view the movie Dead Man Walking. Unfortunately, I was not able to make it to the showing at school, but I rented the DVD from Block Buster Video. I missed an opportunity to gain some bonding time with my classmates, but I could not get off work in the short notice that the class was told about the film viewing. When I viewed film, I had the pleasure of being in my home atmosphere, and I had the opportunity to better concentrate on the movie and the ability to rewind at certain points in the film. Before viewing the film, I was not too excited about having to watch it. I was under the impression that this movie would be boring and more of an educational video. After I watched the movie, I knew that my prediction about it was very inaccurate. Dead Man Walking is one of the finest films I have ever seen, and it has raised my bar of standards for a drama. The thing that stands out the most about Dead Man Walking is the story. The film is about the death penalty, and the tragic events that lead to it. The story follows Poncelot, a convicted killer, and Helen, a nun, who meet during Poncelots death row period, and they both change each other. Poncelot is accused of killing a young couple, and is placed on death row. He writes to Sister Helen, who agrees to come to the prison and visit him. Poncelot immediately says he did not commit the crime, and Helen believes the prisoner. Helen gets Poncelot an attorney, but the attorney fails and Poncelot is sure to be executed by the government. The film does not state a clear bias for the death penalty, but it gives the viewer the chance to decide if capital punishment is right or wrong. At the beginning of the film, the viewer is lead to believe that maybe Poncelot did not actually commit the crime, so someone might believe that his execution would be unfair. During the course of the film, the viewer sees the affects of the victims family and the community reactions, and whoever is watching probably feels that whoever actually committed the crime should definitely be punished as harshly as possible. When Poncelot tells Helen that he did indeed commit the crime, the viewers feelings about him receiving the death penalty probably change again, but there is so much emotion going on in the scene that one can not help but feel sorry.

The proper role of education is to teach facts, not morals

Certainly, teachers have a long list of responsibilities every twenty-four hours. The roughly important one of course is enriching the minds of our children. A large amount of their time is spent with teachers throughout the week and they become one of childrens biggest influences. Sure, their major obligation is to teach them reading, writing and arithmetic, they also have an obligation to encourage the right morals as well. In many cases teachers become one of the biggest influences in childrens lives.There are many people, including famous ones who will say that one of their teachers was their influence to thrive and succeed in life. Understandably, teachers are working hard to reserve the educational goals necessary to have the children succeed in life as far as academics is concerned. However, just as important is a childs moral compass. Some may argue that its the parents responsibility to teach them morals at home, but its just as important that the teacher reinforce and i nstill new morals in the classroom.The most important factor that teachers and parents must consider is that children will one day become adults and having a great set of morals will greatly impact society. This idea is not novel institutions of higher learning have these principals in place for their students for quite some time Most colleges and universities have codes of conduct that students must adhere to, in order to maintain student status there. Also, doctors dash the Hippocratic oath, to ensure there are ethics that must be maintained in order to be a doctor.

If the Coat Fits Wear It Essay

The pelagic Corporation, a Chesapeake, VA based high society, was established in 1994. Glenn Rodgers III founded the corporation, which was privately owned at the time, after his retirement from Norentech Corporation.The Oceanic Corporation was originally formed to provide ship repair services and quickly earned a Department of Defense (DOD) certified Alteration gravy boat Repair (ABR) designation. Among its specialties were structural welding, piping system installation and repairs, electrical, painting, rigging, machinery and dry-lock work, as well as custom sheet metal fabrication. Other divisions of The Oceanic included Habitability Installation, industrial Contracting, and Alteration/Installation Teams (AIT). With its initial success and good return on investment the firm opened and operated facilities in California, New Jersey, Florida, Maryland, Pennsylvania and Washington.In 1998, the company went public and its initial public offering was very successful. The stock price h ad risen from its initial value of $10 to its current level of $35 per share. at that place were currently 5 million shares outstanding. In 1999, the company pop outd 30-year bonds at par, with a face value of $1000 and a coupon rate of 10% per year, and managed to wake $40 million for expansion. Currently, the AA-rated bonds had 25 years left until maturity and were being quoted at 91.5% of par.Over the past year, the Oceanic Corporation utilized a freshly method for fabricating composite materials that the firms engineers had developed. In June of last year, management established the Advanced Materials Group (AM Group), which was dedicated to pursuing this technology. The firm recruited Larry Stone, a aged engineer, to head the AM Group. Larry also had an MBA from a prestigious university under his belt.Upon joining Oceanic, Larry realized that most projects were being approved on a gut expression approach. There were no formal acceptance criteria in place. Up until then, t he company had been lucky in that most of its projects had been well selected and it had benefited from good relationships with clients and suppliers. This has to change, said Larry to his assistant Stephanie, we dopet possibly be this lucky forever. We need to calculate the firms bank vault rate and use it in the future. Stephanie Phillips, who had great admiration for the boss, replied, Yes, Larry, why dont I crunch the numbers and give them to you within the next couple of days? That sounds great, Stephanie, said Larry. My years of experience tell me that when it comes to the hurdle rate for new projects, one size hardly ever fits it allAs Stephanie began looking at the financial statements, she realized that she was going to make about assumptions. First, she assumed that she assumed that the new debt would cost about the same as the yield on outstanding debt and would have the same rating. Second, she assumed that the firm would go along raising capital for future projects by using the same target proportions as determined by the book values of debt and equity (see Table 1 for recent balance sheet).Third, she assumed that the equity beta (1.5) would be the same for all the divisions. Fourth, she assumed that the growth rates of earnings and dividends would continue at their historical rate (see Table 2, for earnings and dividend history). Fifth, she assumed that the corporate tax rate would be 34% and finally, she assumed that the flotation cost for debt would be 5% of the issue price and that for equity would be 10% of selling price. The 1-year Treasury bill yield was 4% and the expected rate of return on the market portfolio was 10%.

Food, Inc. Essay

Food, Inc. broadens the consumers prospective on the production of foods such as chicken and cattle. The documentary was convincing in regards to limning the consumer what manufacturers argon afraid to show us, consumers. Nowadays, there are approximately 47 thousand products in a grocery store. That of which four producers have 70% of the market. Food, Inc. had many facts and statistics telling the viewers of nowadayss farmers and other large corporations in the food industry. It used to be that it took three months to produce a chicken from when it hatched to the age it was ready to slaughter, now, it takes exclusively 48 days.Farmers average a borrowing of $500,000 in which they only make $18,000 profit. Large producers are keeping farmers in debt. Rather than letting the plants and animals take the time they need to produce natur all(a) in ally companies are always thinking faster, faster, bigger, bigger. Candy, chips, pop, and hamburgers from McDonalds are all examples of ch eaper food than compared to vegetables or fruit. Although they are higher subsidized, they are low in cost. Food, Inc. could have overlooked the value some Ameri tummys have on these cheaper meals. A Hispanic family was shown on the documentary.This family was faced with having to choose between buying medication for their diabetic father or getting groceries. Him, as well as one and a half million other Mexican farmers lose their jobs due to larger corporations and with all the debt that is due, they dont have a lot of money for the quality of food they may want. Food, Inc. however did overemphasize all the negative larger companies were doing to farmers, as well as animals. Some interesting facts are as follow at a slaughter house fit(p) in Tar Heel, 32,000 pigs are slaughter a day thats 2,000 per hour.If a plant is always failing the USDA testing, they are said to be shut down. However, the law never took affect, instead, the plants took USDA to court. In 2008, 90% of soybeans did not have the original seed. Although documentaries are usually biased, there were many times through with(predicate)out the film where a large corporations were asked to talk, however, they declined. Large corporations could have helped their side of view by taking time to conduct an interview with the Food, Inc. crew.Food, Inc.was very intriguing, although it could have furthered explained through a corporations prospective overall the documentary was successful. The harsh facts with the jaw dropping graphics were just a bonus on the heart touching stories all of the farmers told. The graphics of reality was most bothering. The fact that companies could get away with employing illegal immigrants than do nothing when they were arrested was annoying, as well as knowing that a keep company could sue anybody for anything even if they knew they would lose.Something that was realized as result from watching this piece, is that to eat well in this country you need money. Questions t hat could be asked are how can companies corresponding Monsanto have all of one farmers bank accounts and check written from the last 10 years. How can this company sue farmers (and win) for the farmers crops being contaminated against their knowledge. Why did patenting a seed ever become acceptable when the seed needs to be grown and consumed by millions. And why can the FDA sell food without a GMO label.

Black Feminist Theory Essay

genus Sula is Morrisons main character and is a perfect example of a change state woman. According to Lois Tysons definition of a Liberated Woman, Sula has discovered her abilities, knows what she needs, and goes almost getting it. Along with either these activities, comes pride and independence. It began when Sula was younger as she had Nel, her best friend, by her side. In the safe carry of each others company they could afford to abandon the ways of other people and concentrate on their get it on perceptions of things, (55).Her friendship gave her the comfort to be herself and confident on acting on her own terms. Sula continued this attitude into adulthood but not everyone agreed with her actions towards getting what she wants. Sula leaves for 10 years to go to college and live her life beyond the Bottom. When she finally comes back, she and Eva get into an argument. Eva arrests up her disappointment in Sula for not settling down with a family and Sula lashes back with, I dont want to make somebody else. I want to make myself, (92).She displays her aversion to not have anyone helpless on her and she wants to however care for herself. Having a family and a keep up, in her opinion, would stop her from getting what she wants or needs and would put herself second in her life. Sula doesnt want to be tied down and oppressed by a man, she wants to be independent and shes not ashamed about being the only woman wanting her independence . When Nel finally confronts Sula about her affair with Jude, Nel accuses Sula of being proud but she responds with What you talking about? I like my own dirt, Nellie.Im not proud, (142). This shows how Nel, along with everyone in the bottom, thinks shes proud or conceded, but in actuality, shes just not ashamed of her decisions or life style. Lois Tyson continues the definition of a liberated woman with the liberated woman has already found herself and likes what she has found. When sula says I like my own dirt she supp orts Tysons definition because Sula also likes what she has found. Sulas independence, and her pride in being so, fully supports Tysons complete definition of a Liberated Woman.Nels character fits into an Emergent Woman as she comes to an awareness of her own psychological and political oppresion usually through a harsh experience of initiation that makes her ready for change. On Nels trip to meet her grandmother, Nel witnesses her mothers custard being revealed. From then on Nel resolved to be on guard- always. She precious to make certain that no man ever looked at her that way. That no midnight eyes of marbled flesh would accost her and turn her into jellify (22).Ashamed of the jelly or the weak substance custard that Morrison also associates with Helene, Nel makes certain that no man shall look at her, and make her into anything weak. In this secne, she becomes aware of her mothers subjugation and makes the decision to never allow it in her life. At the end of their trip, Nel lays in bed thinking about the possibility of ending up like her mother. To evince her independence separate from her mother, Nel states, Im me. Im not their daughter. Im not Nel. Im me. Me, (28).As an Emergent woman, she demonstrates her energy to make her own choices and establish her own independence. Years Later, filled with resentment towards Sula, Nel visits ill Sula in her deathbed. For years, her depression was encouraged by the thought that her husband was taken and now she is alone to take care of her children. She believed it was all Sulas fault and she hated her for this, but one day she confronts Sula about taking Jude away from her, and Sula asks What you mean take him away? I didnt kill him, I just fucked him.If we were such good friends, how come you couldnt get over it? Nel starts to think of the idea of it not being Sulas fault, that Jude was the one who put her through the heart break of being alone. Sula dies and Nel attends her burial. There she realizes tha t all that time, she thought she was missing Jude, but actually, she missed her friendship with Sula (174). Their friendship was more supportive than her marriage as Sula helped bring out the me in Nel that she lost in her marriage to Jude. Her epiphany helps her to notice how Jude was the one who hurt her , and now she can move on.Toni Morrison portrays Eva Peace as a hang up woman. According to Mary Helen Washington, a suspended woman is a victim of men and of society as a whole, with few or no options. Morrison starts stumble Evas story with her discontented marriage to her husband, BoyBoy. BoyBoy liked womanizing best, drinking second, and abusing Eva third, (32). Eva, disappointingly, tolerates all his abuse, because of her dependency on BoyBoy. One day, when he leaves her and their three children, her dependency becomes clear.Being thoughtless of his familys welfare, he leaves as his worst affliction to his wife. Now, abandoned with nearly no notes,Eva realizes that the c hildren needed her and she needed money, (32). This shows her desperation and how BoyBoy belittled her as she had to beg and rely on the neighbors for basic necessities like food for her children. Her Neighbors were very willing to help, but Eva felt she would soon run her welcome out and the fact that she had to continue begging, intentional she had ask for enough, embarrassed her.Eva struggles to raise them on her own and one day her son, Plum, stopps having his bowel movements. When all the stress and pressure gets to her, Eva squatted there wondering what was she doing down on her haunches She shook her head as though to juggle her brains around, then said aloud, Uh uh. Nooo,(34). Eva leaves her children with her neighbor for more than a year and comes back with one leg, losing the other for money to care for her children. If BoyBoy had never abused or had left her, she would have never been a victim and never would have had to sacrifice her pride and her leg.This proves shes a suspended woman because BoyBoys abuse and abandonment left her with the only option to leave her children and sell her leg, because as a black woman in their society, she had very few options. Toni Morrison exemplifies Mary Helen Washingtons definitions in Nel, Sula, and Eva through out Sula, using their experiences and personalities. Sulas independence, Nels epiphany, and Evas abuse all characterize them into their type of African American female character, making Sula a Liberated Woman, Nel an Emergent Woman, and Eva a suspended woman.

Critical Review of Franklin D. Roosevelt and the New Deal 1932-1940 by William E. Leuchtenburg.

Franklin D. Roosevelt and the vernal Deal 1932-1940. by William E. Leuchtenburg. Harper & Row, 1963. The Great Depression created a political landscape in the United States that demanded bold action, duty forth people ready and willing to challenge the conventional establishment and allowing them to thrive. Franklin Delano Roosevelt is the prime example of how adversity creates a forging ground were dynamic individuals status history. In his intelligence Franklin D.Roosevelt and the New Deal Leuchtenburg meticulously describes how Roosevelt changed American during his first two terms and cast nigh light on why he was the one to succeed in holding the great responsibility of steering the region through the depression with come out blind praise or unjustified criticism. The author, William E. Leuchtenburg, was born(p) in the early 1920s, therefore was old enough to remember the atmosphere in which the New Deal was happening, though non from the standpoint of an adult, giving hi m the limit of knowing the actual feel of the era over a younger historian.This may also account for his admiration of Roosevelt, as he often expresses in his book Roosevelt was widely popular amongst a majority of Americans at the time. He has written several books mainly centered around Roosevelt and became a distinguished professor of history at the University of North Carolina. He has also served as President of the American Historical Association. There is no doubt that he is very answer to write a book on the subject of Roosevelt and even though he obviously is a great admirer of the President, he never shies forth from pointing out Roosevelts flaws.Leuchtenburg begins by setting the stage that brought Roosevelt into power by describing the Great Depression and how the Hoover administration handled it, not completely negatively stating no president ever worked harder in the White House than Herbert Hoover. Here he first describes Roosevelt with a brief history and leads i nto how he became President, describing his energy and charisma as key factors.It becomes evident that Leuchtenburg painstakingly presents rounded historical facts to eliminate the chances of a biased presentation and continues to do so through out the book, often deviation a quarter of a page of footnotes. The third chapter is were Roosevelts presidency begins. Leuchtenburg describes The Hundred Days were the new president rushed to try to turn the country around with a flood of new legislation and bold acquisition of executive power.He does a good job at pointing out how some legislation, such as the emergency banking bill, passed with little opposition and how other legislation was shaped by opposition or, in the case of the NRA, was generated to curb legislation Roosevelt didnt favor. Successes and failures are pointed out proportionally and the reasons behind the fate of practically of the Roosevelt administrations actions is often speculated on in a well informed and unbiase d manner. After much about legislation and policy Leuchtenburg moves to describing those who would challenge Roosevelt and how they shaped Roosevelts policies.The introduction of new conflicts here seemed to add a renewed sense of urgency to the book which, along with the extravagance and extremist views of characters such as Hugh Long, managed to renew the pace of the reading. The book goes on to describe interest of lower classes such as laborers and migrant farmers and how Roosevelt was pulled more(prenominal)(prenominal) to the left for what is known as The Second Hundred Days and of course describes the process of securing reelection.Social Security is addressed in a surprisingly negative manner, In many respects, the law was an astonishingly inept and conservative piece of legislation he goes on explaining by relying on regressive revenue enhancement and withdrawing vast sums to build up reserves, the act did untold economic mischief. This provides both a prime example o f his unbiased approach to the subject and his tendency to attend no statement goes unexplained.This is broken up by a chapter on foreign policy and continued with Roosevelts struggles with the Supreme Court and an increasingly contestant congress before leading up to what would become World War 2 and concludes by outlining what Leuchtenburg cerebrates to be the important points of the New Deal. To begin with, the book takes on a pretty heavy load, and does so in a thorough manner. This leads it into organism pretty dense, it is definitely dense enough to through off anyone who is not a serious history student from reading it cover to cover.Leuchtenburg definitely did his best to get all he could into one book, which is a good occasion from a research point of view, but makes it unwieldy for a casual reader. There are times I could have done with less information, appreciatively I had notes on hand while reading to supplement the book or else I would have become lost in the barr age being tossed out at the thickest sections. This is amplified by the fact the book sometimes goes quite a few degrees of separation from its core subject, or could be more accurately titled Roosevelt 1932-1940.This is evident in chapter 9, which is centered more on the politics of foreign policy, and not just in ways that had a direct gear up on New Deal policies. I feel if the book were trimmed down a little more it would make it a lot more accessible, thus justifying the narrower scope. In addition, this would provide more room to hammer in the more relevant subjects with brief overviews so readers such as myself without an in-depth prior familiarity of the New Deal could better understand its intricacies without going back between chapters after these breaks in subject.However, he does his best to make the book flow, especially by keeping it in chronological order for the most part. He mainly departs from this structure when he is explaining policies and events which are usu ally better explained grouped together, such as foreign policy. Assuming Leuchtenburg did not have a casual reading audience in mind when he wrote the book, its weightiness s not a major downfall. Also, Leuchtenburg does put forth a great deal of effort to provide balanced information.He says himself that the New Deal left many problems un resolved and even created some perplexing new ones. It is common for him to follow up a list of success with a list of flaws, or vice-versa. I regain he does such a good job at this because he keeps things in a historical perspective. For example, while it is easy to criticize Roosevelts initial shying away from government spending or break from the gold standard now, back when there was little precedent for these actions these must have seemed much more radical.This shows a thorough knowledge of the limitations of our government that extremist often ignore. By using an objective view his argument that Roosevelt was ultimately successful despit e his downfalls is a thousand times more convincing than a biased pro-Roosevelt outlook would have been. On the other hand, this creates a calm, collected view through out the book which is not as invigorating as more sensational works and fails to incite as strong an emotional response .While not necessarily a negative as far as historical accuracy, it takes away from the books ability to provide enjoyment making it easier to put down. Overall, I believe Leuchtenburg did a good job at explaining such a large, intricate subject without it either reading like an unending encyclopedia of events or osseous time line, he expresses his opinion in a unobtrusive fashion that maintains historical accuracy and balance and avoids sensationalism, and even though its not flashy it does its job.Franklin D. Roosevelt and the New Deal is a very informative book that provides a convincing argument that Roosevelt and the New Deal were a positive turning point in American history. Franklin D. Roosev elt and the New Deal 1932-1940. by William E. Leuchtenburg. Harper & Row, 1963. (13) Franklin D. Roosevelt and the New Deal 1932-1940. by William E. Leuchtenburg. Harper & Row, 1963. (132) Franklin D. Roosevelt and the New Deal 1932-1940. by William E. Leuchtenburg. Harper & Row, 1963. (346)

Body Fat and Eating Disorders Paper

The definition Of body study is the body qualified add Of fat to fat- set-apart mass. Body composition is made up of two parts of mass. These parts be fat free mass and fat, fat free mass is made up of bones, muscle, water and tissue. Body fat is located inside the human body and protects the internal organs, provides sufficient energy, manages hormones which perform various functions in the body. When the person is considered obese or overweight the fat that they carry can cause a potential wellness risk.People who have standard body composition are usually wellnessier, move easier, function better and more efficient. Also humans who have ideal body composition have superiorer arrogance than someone who has unsatisfactory body composition. A person who has more body fat than was standard IBM can be at risk for health issues. The health issues that can be related to obesity are cancer, diabetes, heart disease and etc. The obesity epidemic basically comes down to humans take in in like manner much food and not doing enough exercise to burn calories, strengthens muscles and bones.The biggest factor is that humans are persuaded by fast food companies such as McDonalds, Burger King, pizza Hut and other type of chains and restaurants. These companies invest billions of dollars in advertising to win consumers over and to spend money on their product. While the companies are devising money, human beings are also gaining weight. Fast food companies are also increasing portions such as a large, medium or extra-large fries. These fries are packed with salt and sodium. Another factor that does not help the obesity epidemic is how a person lives and manages their daily schedules.If a person works a desk job at different hours it can be hard to find time to exercise on a daily basis. Some health problems that are associated with anorexia nervous are loss of bone strength, tooth decay, thyroid gland issues, and dehydration, sensitive to cold, depression, and poor me mory. Bulimia nervous can lead to dehydration, kidney failure, irregular heartbeat, and drug and alcoholic beverage abuse. Binge eating health problems are more in depth than anorexia nervous and bulimia. Binge eating can lead to diabetes, high blood pressure, high cholesterol, gall bladder disease, trouble breathing, cancer, and sleep robbers.The cause of eating disorders is still founded to be unknown. But through research scientist and doctors have looked at the patterns of the person who is having an eating disorder. Most eating disorders are due to confidence and personal image issues that the person is having. From a physiological standpoint, an eating disorder can lead to health problems such as an ulcer. From throwing up to much the person can tear the lining in the stomach which can lead to further digestion issues. Dehydration and upchuck can lead to electrolyte abnormalities, which includes low potassium and calcium.Going further these issues can lead to dysfunction in t he cardiac muscle. Malnutrition can lead to the body creating less estrogen and growth hormone which can lead to Infertility. By having low levels of estrogen, low calcium, peak levels of stress, can result in bone loss.

Investigating Business Essay

In this section, I go a management give a detailed explanation of the securities industrying unify and why it is used in businesses. I impart be giving a detailed analysis of the Product, Pricing, consecrate and promotional materials. This section is based on ab step forward how I found my target merchandise and then fulfilling their wants and assumes. Marketing Mix Marketing mix Provides a recipe for effective selling tutor2u. net Marketing is the term used to describe a cooking stove of activities within a business that be designed to keep existing customers and to gain new ones. The market cycle begins with the objectives of the business, which feed into marketing objectives. bordering haps, Market analysis, involving the business looking at its position in the market and the ways it can best take improvement. Market research leave be used to fid fall out which groups can best be targeted, and how. Market planning go out include how, when and where to target marke ts. It includes test produces and test marketing. A marketing mix ask to be developed so that a successful balance of footing, harvest, promotion and distribution is achieved. The marketing mix Product The harvesting refers to the different range of harvest-homes supplied by a business. A growth can be either a good or a service.It is just one part of the marketing mix and pass on only be successful if properly combined with marketing. Good market researchers impart identify where new intersections ar needed or existing products can expand. The product lifecycle The product lifestyle shows the stages that a product goes through from development to nightfall. in that location are five stages to the life of a product and they are development, introduction, growth, maturity, and decline. The first stage is development. This is where the product is being developed it will not be growing as it is currently not on the market yet.Nobody will know what it is as it hasnt yet been launched. The launch stage also known as the introduction is the second stage. This is where the product will begin to grow little by little. As it is a new product no body knows about it and therefore on a product lifecycle chart, it starts off at the very bottom, with no sales. The producer will need to create brand awareness so raft know that the product exists. soil awareness could be an objective set by the company. Brand awareness could be achieved in many different ways such as advertisement in the local paper or on national T.V. dep culminationing where the product will be sell in my case it will be sold locally so it will be or so ilkly to be advertised in a local paper. When the consumers are more aware of the product they are most the likely to buy it, as, sales will go up and the product then goes into its next stage of growth. Once, the product comes to the end of the decline stage then it is likely that the company will stop producing it, as they will eventually make a loss instead of a profit. However, not all products will reach the declining stage. The product lifestyle can be shown on a graph to the left.Currently, my product is at the development stage. I am currently keep an eye oning out my customers need and wants through market research such as field and desk research, I am developing my product almost what they want, this is important as they are buying it. If my product is successful it will evolve through the product lifecycle. As my product is a new product and not yet on the market I will need to do a lot of advertising to create brand awareness, through carrying this out successfully it will mean my product will get a good head start in the launch stage.When it becomes more popular I will the advertise in different ways such as television advertising, as this was the most effective way of advertising (results from questionnaire), with advertising in this way my product will be known nationally instead of originally locally. The marketing mix Price Price is one of the elements of the marketing mix. The marketing mix term is used to refer to the balance between these different elements. Businesses need to get the mix right and in order to do this they need to decide on a price that is appropriate to the product.Most times, all prices determine by the interaction of supply and demand. In some countries, buyers and sellers still sight until both are satisfied with the price. The auction process such as eBay mirrors this. However, this process can be time consuming and the seller usually sets the price and the buyer shows their acceptance of this by buying at that price. Price will vary according to the circumstances. Normally, if you start a new business you will shake to research the market very carefully, examining competitors pricing very carefully.What will customers buy on price, example, buy the cheapest? The numbers of pricing strategies which can be used are the choice of pricing strategies that will depend to some extent on the long term objectives of the business- how it wishes to position itself in the marketplace, or how important its financial needs are. The examples of long term objectives are * Making a profit * Pricing to keep the competitors out of the market * Pricing which positions the company at the luxury end of the market * Pricing to maximise sales and make the business a market leader.Commonly prices are based on the marketing needs of the business. There are often temporary price strategies used to achieve a particular short-term target, called tactical pricing. progressal pricing is designed to increase sales quickly. This can be done using low prices or discounts, special offers or (buy one get one free. ) The marketing mix Promotion Promotion involves telling the customers that a product exists, and attempting to persuade them to buy it. It is important to remember that this is just one part of the marketing mix it is linked to separate parts.Promoti on is usually divided into advertising and sales promotion. Using different media such as TV, newspapers and magazines, posters, the internet and sponsorship are one of the different techniques of communication. Large businesses have the advantage of resources in promoting products to a mass market. Though, small businesses can make can make variety of promotional techniques in a local area or niche market and achieve good communication with the target market. One of the best promotional tools of a small business is a well-designed website.PlacePlace is often referred to the fourth P of the marketing mix. It has two key parts to it. Firstly, it is the market where goods and services are sold. This may be physical place like a shop, market or trading floor, or it may have no physical existence but be the a market that exists on the phone or, increasingly, in cyberspace. The place where something is sold does not have to be solid it just refers to the place where the transaction occur s. Secondly, place refers to the transaction occurs. Secondly, place refers the effective distribution of goods.Most retail outlets can take many different forms. For example vending machines is a retail outlet, as is a department store. They are categorised by the type of range of goods or services they sell, and their geographical range and position. Multiples provide a brand identify for all of their sites. My product From carrying out primary and secondary research I have been able to choose exactly what my final product is. In carrying out field and desk research it enabled me to find out exactly who my target market is, how to segment the market and finding out and full filling my customers needs and wants.This is one of my four objectives. As my product is a new product it is currently at the introduction/launch pad, as nobody knows about it so far, but it will work its way along the graph. My product is a 3D indoor stimulating ride. As analyzed in my questionnaire a large gr oup of the target market would like to come across something different introduced in the theme park. This stimulator will include features that no other stimulator has ever included. As mentioned before, this ride is based on a undefiled book and film, Alice in Wonderland.Firstly the 3D stimulator will be one of the tallest stimulators in the world. The ride will be 395 feet high (beating Las Vegas Stratocasters record. ) with the speed of 150mph. As this is a suspense/vertical drop ride, people will be expecting to be entering a normal looking 3D stimulator ride but as the ride begins, they will be in for a shock. The ride will begin with a small voice of Alice speaking to the rabbit. After, the 3D screen will appear with the clip of Alice following the Rabbit. The ride will shake as it follows the motion of Alices footstep.As Alices follows the rabbit she will then see a small bottle labelled drink me. After Alice drinks the content from the bottle, the screen will switch off, a puff of white smoke will appear and a distorted nursery rhyme will be heard. The 3D stimulators will then shake vigorously and tilt forward. Flashing images of Alices face will appear from the screen with psychedelic patterns and colours. The stimulator will then spin around at a speed of 60mph for 40 seconds and unexpectedly stop. indeed The ride will tilt even more and there will be an opening right below the people on the ride.This opening will have a slight cold breeze and will be pitch black. The ride will then drop down vertically from 395 feet, and that will be the end of the ride. This is the poster to my product Safety As this ride will have a lot of dangers, safety is essential. Firstly, as the people will enter the simulator ride they will have to abide by the height restrictions (min. 1. 4m) anyone under that height will not be permitted onto the ride. Any pregnant women, people suffering from high blood pressure, heart problems or any other serious conditions, wont b e allowed on the ride.Seatbelts must be bifurcate checked before the ride begins. If any accidents occur during the rides i. e. vomiting then the ride will automatically stop and medical help will come straight away. Also, there will be paramedics in the area if any accident occurs. Branding From conducting my questionnaire in my primary research, it showed me that most people would prefer a scary themed ride, but I needed further information in how I was going to present the merchandises to the target markets.However from my secondary research it showed that most people would like a horror theme vertical drop ride. I decided to link the horror themed ride (chosen by the target market) with the other most popular choice, the 3D stimulator and combined the two together. For the merchandisers, Ive decide to use Alice in terror land doll key chains, similar to the slasher film, Chucky the slayer Doll. The features will include a sensor. The dolls eyes will follow youre movement. This will also include a mini torch.

Renaissance humanism

I naively assumed that no(prenominal) of this would be controversial, and I was quite unprep argond for the hostility it provoked among some legates to the congress, chiefly from Northern Europe, who stand for what I came to perceive as the Lutheran Establishwork forcet. This group was concerned to insist on the total originality of Luther and the unequivoc onlyy Ger reality Origins of the Reformation. The paper would, I think, be to a greater extent generally accepted today . It was jump promulgated in Luther and the Dawn of the Modern Era Papers for the Fourth International Congress for Luther Research, De.H. A. Barman, Studies in the memorial of Christian Thought, Volvo. 8 (Elided E. J. Brills, 1974), up. 127-149. It is reprinted here(predicate) by permission of the publisher . Since the peculiar mixture of responsibility and assumption in the title of my paper result scarcely seduce escaped the nonice of this distinguished audience, I feel some consider to explain at t he out adapt that it represents an assign custodyt on the part of those who think our meeting.The significance of the worrys to which it points is suggested by the great historians who strike grappled with it in the past, albeit (a fact that should constitute some matter of a warning) with somewhat impertinent results, among them Michelle, Diluted, and Throttles. l Its practical importance lies in the need of most of us to place our much limited inclusions in some broader historic frame put to work we must at that placefore reconsider, from ? 226 ? time to time, the relationship betwixt rebirth and Reformation.In en diversityle of this, the subject has recently received little systematic attention, and many of us are still potential to rely, when we approach it, on unexamined and obsolete stereotypes. Obviously I cannot hope to remedy this state of affairs in a brief paper. however the progress of conversion studies in recent decades invites a reassessment of this unequ ivocal job, and I offer these remarks as an essay intended to stimulate further concussion. What has chiefly inhibited large generalization has been the extension and refinement of our knowledge, and with it a growth both in specialization and in humility.Thus we are increa crimegly reluctant to make broad pronouncements about either the conversion or the Reformation, much little about both at once. For as scholars we are divided not only amongst renascence and Reformation, or between Italy and Northern Europe crimson within these categories most of us are specialists who would lead competence only in a particular aspect of reincarnation Florence or Venice, in one and only(a) phase or another of metempsychosis manism, in Machiavelli or Erasmus, in later scholasticism or the history of piety, in Luther or Calvin or the sects.Under these cultivates few students of the metempsychosis have cared to look as far-off as the Reformation and although Reformation scholars have b een somewhat b gray-headeder, they have rarely pursued the question of Renaissance antecedents farther than northern sympatheticism. Humanism is, hence, the one subject that has recently advance forays into the problem of this paper plainly although Barren, Devour, Spits, Libeling, and especially Charles Trinkets, among others, have made valuable intrusions to discussion,2 the problem is still with us, primarily, I think, because we have not amply made up our minds about the meaning of Renaissance humanism.A result of this difficulty has been a tendency to concentrate special attention on Erasmus as a occupystone for the Renaissance, a role for which?for reasons that will start later in this paper?I think he is not exclusively suited. It is, however, one beak of the complexity of our subject that we cannot approach the question of the relationship between Renaissance and Reformation without somehow first coming to terms with the implications of humanism. I should like to d o so, however, obliquely rather than flat.It seems to me that although humanism, which assumed a revolution of forms as it passed through successive stages and was influenced by differing local conditions, was not identical with the much(prenominal) profound tendencies of Renaissance elaboration, it was nevertheless(prenominal) often probable to give them notable aspect, and for reasons that were not accidental hardly directly connect to the rhetorical tradition whatever their ?227 ? differences in other respects, most recent interpretations of Renaissance humanism have at least identified it with a revival of rhetoric. What has been less generally recognized is the deeper significance of this revival. The major reason is, I think, that in our time the term rhetoric has become largely pejorative we are inclined to couple it with the adjective mere. But for the Renaissance there was nothing shallow about rhetoric. root word on a set of profound assumptions about the te mper, competence, and destiny of man, rhetoric gave expression to the deepest tendencies of Renaissance polish, tendencies by no meaner confined to men clearly identifiable as humanists, nor invariably fully expressed by men who have generally been considered humanists.I shall try in this paper to describe these tendencies, which seem to me to have exerted intolerable pressures on fundamental elements in the medieval beneathstanding of Christianity. And I will suggest that similar tendencies get up the view of the great Protestant Reformers. Thus the significance of Protestantism in the development of European culture lies in the fact that it accepted the religious consequences of these Renaissance tendencies and was prepared to apply them to the understanding of the Gospel.From this standpoint the Reformation was the theological fulfillment of the Renaissance. I Fundamental to the cultural movements of the Renaissance was a gradual accumulation of assortment and semipoliti cal changes an economy increasingly dependent on commerce rather than agriculture a political grammatical construction composed of assertive particular powers and a society dominated by educated laymen who were increasingly rough under clerical direction and increasingly aggressive in pressing their own claims to dignity and self-determination.A commercialised economy and the more and more openly uncoordinated conduct of governance supplied the complaisant base for a parvenu day-dream of mans place in the realness, and of the world itself. Social experience rooted in the pour down had perhaps encouraged a intellect of broad, natural regularities ultimately responsive to cosmic forces and inhibiting to a sense of the significance of change but the life of a merchant comm agreement and the ambitious operations of self-directed rulers made all experience contingent on the interaction between unpredictable forces and the practical courtesy and energies of men.Under these con ditions the possibility of cosmic fellowship seemed remote, but in any case of little relevance to human affairs and the obvious rule of change in the empirical world encouraged efforts at its intuition and in the end ? 228 ? stimulated the awake(predicate)ness of history, that peculiarly Hebraic and Christian?as opposed to Hellenic or Hellenic?contribution to the Western consciousness.Meanwhile new political realities and the claims of laymen depraved the hierarchical designings that had defined the internal structure of the old unified order of the cosmos, within which the affairs of this world had been assigned their proper place. 4 It will to a fault be useful to observe at this point that these developments were by no meaner confined to Italy I will touch briefly at a later point on the implications of this fact for the Renaissance problem.It is not altogether wrong to emphasize the positive consequences of these developments which, by freeing human activity from any con nection with ultimate patterns of order, liberated an exuberance that found expression in the various dimensions of Renaissance creativity. Bureaucrats insight that the autonomy of politics converted the prince into an artist of sorts may require modification yet the new situation made all human arrangements potentially creative in a sense hardly possible so massive as the basic principles of e genuinely activity were deduced from universal principles.The whim of the state as a work of art points to the general process of colonization and reminds us that the culture of the Renaissance extended far beyond its brilliant art and literature, and was perhaps even more significant in its implications than in its accomplishments. It had, however, another and darker side. It detain on the destruction of the sense of a definable relationship between man and ultimate realities. It divide his connection with absolute principles of order, not so much by denying their existence as by rejecti ng their accessibility to the human understanding.It deprived him of a traditional conception of himself as a be with distinct and nonionised faculties attuned to the similarly organized structure of an unchanging, and in this sense dependable, universe. Above all, therefore, it left(a) him both alone in a mysterious world of unpredictable and often hostile forces, and at the same time personally responsible in the most radical sense for his own ultimate destiny. For he was now left without reliable principles and? because the directive claims of the church service besides depended heavily on the old conceptions?reliable agencies of guidance.These darker aspects of Renaissance culture eventually squired, therefore, a re formula of Christian belief, and we shall now examine them a bit more closely. Renaissance thought has sometimes been represented as a reassertion of ancient rationalism against the supernaturalism of the Middle Ages. The formulation is, of course, both inaccu rate and misleading. In the thirteenth century some smart leaders had been notably hospitable to Greek philosophy, and had tried to coordinate it with revelation.But ? 229 ? it was precisely the possibility of such coordination that Renaissance culture?insofar as it differed from what had preceded it?characteristically denied in this sense Renaissance thought was less rationalistic (if not necessarily less rational) than that of the Middle Ages. In fact it was inclined to distinguish between realms, between ultimate truths altogether trackless to mans intellect, and the knowledge man needed to get along in this world, which turned out to be fitting for his means.Thus the Renaissance attack on scholasticism had a larger implication as healthy as a specific target it implied, and occasionally led to, the rejection of all systematic philosophy. From Patriarch, through Salutation and Villa, to Machiavelli, Pompano, ND the Venetians of the later Renaissance, the leaders of Renaissan ce thought rejected any effort to ground human censure or action on metaphysics and at the same time they insisted on the autonomy of the various dimensions of human concern and the relativity of truth to the practical requirements of the human condition.In this sense, although truth was robbed of some grandeur, it was also made more human and if Aristotle was less and less respected as a vehicle of eternal wisdom, he could be all the more admired as a man. 5 Under such conditions philosophy could evidently head nothing to deity indeed, its virtual effects were likely to be adverse since it encouraged malice and pride. connect to the attack on metaphysical speculation was an attack on pecking order, which rested ultimately on metaphysically based conceptions of the internal structure of all reality.The repudiation of hierarchy was most profoundly expressed in Nicholas of Cusss conception of the infinite, which made every entity equally distant from?and thus equally near to?God6 a similar impulse perhaps lurks behind Villas rejection of Pseudo-Dionysus. 7 But partly because the formulations of Susan smacked overly such of metaphysics, partly because the problem of hierarchy was peculiarly related to social change, the attack on hierarchy was likely to receive more overtly social expression.It took a general form in the effort to substitute a high-powered conception of nobility through virtue for the static nobility of birth,8 a specific form in the impulse (often expressed in legislation and the practical policies of states)9 to consider the clergy in no way wholesome-made to other men but, on the contrary, as equal in the obligations of citizenship (if generally less competent in practical affairs), at least as alienable to sin, and in as desperate a need for salvation as other men, whom it was their obligation to serve rather than to command.This suggested at least that social order was unrelated to cosmic order, but it also raised the possibility tha t order per SE was of a kind quite different from what had been supposed. For the age of the Renaissance was by no meaner oblivious to the ? 230 ? need for order, which indeed historical disasters had converted into the most urgent of problems. But its very urgency intensified the necessity of regarding order as a practical rather than a metaphysical issue. Bitter experience seemed to demonstrate that order had to be brought down to earth, where it could be defined in limited and manageable ways.And, as the occasional intrusions of the clergy into politics appeared periodically to demonstrate, the attempt to apply ultimate principles to concrete problems was likely only to interfere with their practical solution. This was a central point not only for Machiavelli and his polities successors it also molded the numerous constitutional experiments of the Renaissance, with their repudiation of hierarchically defined lines of authority in favor of order through a balance of interests and their appealingness to contiguous local needs and the right of local self- determination.The best arrangements, in these terms, were not those that most accurately reflected some absolute pattern but those that best served the specific and limited human purposes for which they were instituted. But although a sense of the point of accumulation of the human intellect was basic to the thought of the Renaissance, this negation had a positive corollary in a new conception of the human personality which also seemed to correspond better to the experience supplied by a new social environment.Men whose lives consisted in the broad range of experiences, ontogenesis, and human relationships that characterized existence in the bustling and complicated modern world could no longer find plausible an repeal conception of man as a hierarchy of faculties properly subject to reason instead the personality presented itself as a complex and ambiguous unity in which the will, primarily responsive to the passions, occupied a position at the common snapping turtle.One result of this conception was to undermine the contemplative ideal if mans reason was weak but his will strong, he could only realize himself in this world through action, indeed he was meant for a life of action. Another was to reduce suspicion of the personify in the absence of the old psychological hierarchy, the body could no longer be held merely base and contemptible. Action infallible its use, and the new integrity of the personality reduced the possibility of attributing the human propensity to nuisance primarily to the physical or sensual aspect of mans nature.Human passions now also acquired a positive value, as the source of action. 10 This new anthropology, articulated by Patriarch, Salutation, and Villa, mandatory a reconsideration of the problem of immortality and led eventually to the ardent discussions of the soul in which Pompano figured. It also pointed to the political and historical concepti ons of Machiavelli and Caricaturing, who emphasized the primacy of will and passion, as hearty as to the psychological interests of a host of Renaissance writers. 11 ? 231 ? In addition man was defined as a social being if he lost one kind of participation in a larger reality, telephonely his abstract position as a member of the human species in the cosmic hierarchy of being, he, obtained another with, perhaps, more tangible satisfactions his membership as a concrete unmarried in the particular human community in which he lived, now an substantial rather than an accidental condition of is existence. Thus the values of human community now achieved full recognition.Human virtue was defined not as an abstraction but as a function of relationship with other men mans active nature was understood to achieve full expression only in a life of social responsibility, and indeed his happiness was seen as dependent on human community. Furthermore, since effective participation in society re quired some wealth, the conception struck another blow at medieval asceticism. On the other buy the farm the demands of life in society also stimulated a quite a little of human existence very different from that implicit in the contemplative ideal.For life in society was patently marked by a conflict of opposing interests that could rarely (if men were honest) be identified with absolute good or evil and to incessant struggle with other men was added, in social existence, the temptations that inevitably beset anyone who chooses to lock in with rather than to withdraw from the world. The life appropriate to men in this world was thus not loosening (however desperately one might long for it) 12 but a constant and virtuously ambiguous warfare, with the political relation issue ever in doubt. By the same token earthly life had also to be seen as dynamic, as subject to change in all its aspects.Human communities could be seen to rise, flourish, and decay and the philological inve stigations of Renaissance humanists supplemented familiar experience by disclosure the general outlines of ancient civilization and thus demonstrating how much had changed during the intervening centuries. 13 They also wrote histories that communicated not only this perspective on the past, with its implication that human culture is not an absolute but relative to its times, but in addition other aspects of the Renaissance vision of life the active and social nature of man, the values of community, the incapability of conflict and change.This vision found its fullest expression in the rhetorical culture of the Renaissance. Humanist oratory was based on the conception of man as a social being motivated by a will whose energies stemmed from the passions. This conception led in turn to a distinctive concern with communication as the essential bond of life in society, as well as to a new human ideal of the well-rounded, eloquent, and thus socially effective man of affairs.The purpose of communication, in this view, could not be the transmission of an absolute wisdom, which the human mind was incompetent to reach, but the attainment of concrete and practical ends. ? 232 ? Such communication had in a higher place all to be persuasive it had to affect the will by swaying the passions, rather than merely to convince the mind in short it needed to penetrate to the center of the personality in order to achieve results in visible acts. And the significance of the need for persuasion should also be remarked.It implied a life in society that could not be controlled by authority and coercion through a hierarchical chain of command but depended instead on the inward comply of individuals. It was therefore no accident that the rhetorical culture of Italian humanism achieved its fullest development in republics. In addition the needs of broad communication pointed eventually to the development and use of vernacular languages, a more important concern of Renaissance human ism than has sometimes been recognized. 14 II It should be immediately apparent that this set of attitudes imposed great strains on traditional Catholicism. 1 5 It undermined the effort to base earthly existence on abstract principles identified with betoken wisdom, and to relate the visible and changing world of ordinary experience to the invisible and invariant realm of the spirit. Both the comforts in this relationship and its implications for the guidance and intro of lower things by high were seriously threatened.From a Renaissance perspective the arguments by which it was supported seemed at best frivolous, at strike a specious rationalization of claims to power in this world on behalf of a group of men whose attention should be directed exclusively to the next. And behind such suspicions we may also discern the acquaintance of man as primarily a creature of will and passion. In this light intellectual claims were likely to be construed as masks for motives that could not bear inspection dogma itself might be no more than an instrument of tyranny.In addition, since a contemplative repose now seemed inappropriate to the actual nature of man, as well as a breach of responsibility for the welfare of others, the ideal form of the Christian life required redefinition. Finally, the problem of salvation was transformed. Alone in an ultimately unintelligible universe, and with the more fundamental conception of sin and the problems of its control opened up by the new anthropology, man could no longer count on the mediation either of reason or of other men in closer contact with the divine than himself.His salvation depended on an immediate and personal relation with God. Here it is necessary to pause for a more searching look at one of the key terms of our title Renaissance . The conceptions I have so far reviewed ? 233 ? have been based largely on developments in Italy, and this would suggest a vision of the Renaissance, or of Renaissance culture, as initi ally and perhaps primarily an Italian affair.But this audience is well aware that the tendencies I have described were also present in a variety of movements outside Italy, if in somewhat different forms. It is obvious, for example, that later medieval piety exhibited similar impulses ND that, in kindle of the hatred of humanists to scholastic speculation (though here we need to be more precise about what was actually under attack), the later schoolmate played a major if largely independent part in manner of speaking underlying assumptions to the wax and in attempting to accommodate theology to them. 16 Perhaps, therefore, the time has come to expand, as well as to make more specific, our conception of what was central to the age of the Renaissance, and also to abandon the traditional contrast between Italy and the North, which seems to me to eve been in some measure the result of a failure to get beneath surface differences.If I have concentrated on Italian thought in this sket ch, I have through so partly to bring out the fundamental unity of European spiritual development, partly because the affinities between Protestantism and later Scholasticism have been more regularly a concern of Reformation scholarship than the parallels with the Renaissance in Italy. What is nevertheless increasingly clear is that the process of redefining Christianity to bring it into correspondence with the new assumptions about man and the world as gradual, and that it was taking place simultaneously throughout Europe.Largely because of the recent profound book of Charles Trinkets, it is supernumerary to review in detail the process by which the pressures for religious change implicit in the assumptions of Renaissance culture operated among the humanists of Italy. They are already discernible in Patriarch, and they seem to have reached a climax in Lorenz Villa. In a general sense they may be attributed to the special loneliness and despair of men who could no longer regard rel igious truth as a body of knowledge of the name order as other knowledge that was communicable through similar kinds of intelligible discourse.Nor could the institutional fiddles encouraged by ecclesiastical authority as an alternative to rational theology provide a equal solution to the problem. Not only did the idea of implicit belief clash with the growing sense of individual spiritual dignity among pious laymen in addition, discredited by its impotence, its worldliness, the presumed irrelevance of its abstract theology, and a sacramental and disciplinary externalities increasingly inadequate to assuage the secularly intense guilt of the age, the church could no longer be regarded as a dependable guarantor of truth. ? 234 ? Thus, driven by a profound yearning for immediate contact with the eternal,17 the humanists of the early Italian Renaissance moved perceptibly toward a simple religion of adorn based on the Scriptures and apprehended by the individual through faith. Patriar ch typically began with insights into his own knowledgeable conflicts and the discovery that these could only be resolved by throwing himself on Gods mercy in a faith that was at once the highest form of knowledge and at the same time different n kind from all other knowledge confusion on this point seemed to him the most dangerous error.Salutation, concerned as a sterner moralist to protect human freedom and responsibility within a religion of grace, wrestled with the problem of predestination. And with Villa Justification by faith received an even fuller exploration, the role of priest and sacrament in the economy of salvation was correspondingly reduced, and that of Scripture, the Word whose authenticity could be established by philology and which verbalize directly to the individual, was enlarged. 18 Corresponding to the distinction between philosophy and faith was the demand or a distinct distinction between the church and the world the separation of realms in one area seeme d to lead of course to separation in others. In its demands for a spiritual church, the new historicism of the Renaissance collaborated with the insistence of the Italian states on freedom from clerical interference and with their grievances against Rome as a political force. 19 The study of the historical church revealed the spiritual costs of the confusion of realms. 20 At the very least, as men of the Renaissance with some political experience were in a position to know, the effective use of power in the world was always morally ambiguous21 and meanwhile the growing participation of popes and prelates in secular politics had been accompanied by an increasing neglect of the spiritual mission of the church. Thus, if reform required a return to the past, the reason was above all that the early church had been true to its spiritual characters. 22 Only a spiritual church, devoted to that which does not change, could stand above history and thus resist decay.Villas attack on the Donat ion of Constantine was not an insulate document23 it fleets a concern with the church, its earthly role and its spiritual mission, that runs through much of Renaissance historiography, from muskat at the beginning of the fourteenth century to Machiavelli, Caricaturing, and Far Paolo Carpi. 24 The rediscovery of grace was closely related to the new vision of man philosophy, as Patriarch recognized, was incapable of converting man at the crucial center of his being. It is one thing to know, he declared, another to love one thing to understand, another to will. What was required was a transformation not merely of the intellect but of the ? 235 ? hole personality, so that Christian conversion would find appropriate expression in a life of love and active responsibility for the welfare of others. And, as in the world, the essential meaner for such a transformation was not rational appeal to the intellect but rhetorical appeal to those deeper levels in man that alone could move the will . Thus Patriarch argued for the superiority over rational philosophers of moral teachers who could sow the love of virtue in the very hearts of men. 25 For Villa rhetoric was thus the only break of secular learning (except for philology) applicable to theology. 26 The implications of this position for the importance and character of preaching seem clear. A new conception of man was also reflected in a changed conception of God, in accordance, perhaps, not only with Renaissance emphasis on mans creation in Gods likeness and image but also with Callings recognition of the correlative relationship between mans understanding of himself and his knowledge of God. 27 Like man, God could no longer be perceive as a contemplative being, as Aristotle unmoved mover, operating in the universe not directly but through a research of intermediate powers. 28 Laymen active in the world required a God who was also active, who exercised a direct and vigilant control over all things, like that to whi ch they aspired for themselves.God too had therefore to be perceived as primarily will, intellectually beyond mans grasp yet revealing something of himself? all, at any rate, that man needed to know?in his actions, above all as record in Holy Scripture. And from Patriarchs sense of the free, mysterious, and incalculable nature of God,29 Salutation went on to defend the anthropomorphic representations f God in the Bible as a form of communication appropriate to mens capacities. 30 Villa was, as one might expect, even clearer that the God of philosophy could not be the God of faith. 31 In spite of all this, it is nevertheless undeniable that the culture of the Italian Renaissance did not culminate in Protestantism, although even on this point our old sense of the immunity of Italy to the impulses of the Reformation is no longer altogether tenable. 32 Yet it remains true that the religious thought of Renaissance Italy remained no more than an incoherent bundle of monumental insights, and it was unable to rid itself of fundamental contradictions again, however, the contrast with Northern Europe seems hardly absolute.Above all it failed to complete its credendum of mans intellectual limitations, which pushed him only part of the way into the realm of grace, with full conviction of his moral impotence. Even here its vision of man suggests a deepening in the understanding of sin and the human obstacles to salvation and there is abundant evidence of a pessimistic estimate of the human condition in Patriarch, Salutation, Pogo, Villa, and later, in a different form, in Machiavelli andCaricaturing. Yet Renaissance emphasis on the central importance of the will frequently served chiefly to nourish the moralist that so deeply permeated later medieval piety,33 contributing both to the notion of Christianity as the pursuit of moral perfection and of the church as essentially a system of government 34 Renaissance humanism remained, in Lathers sense, Appealing.The consequen ce was, however, that Renaissance culture in Italy, like Scholastic theology in the north, helped to intensify, from both directions at once, the unbearable tension between he moral obligations and the moral capacities of the Christian that could at last find relief only in either a repudiation of Renaissance attitudes or the theology of the Reformation. But it could not resolve the problem itself, and we must ask why this was so. section of the explanation is connected with the fact that some among the figures we have cited were lacking in theological interests, while the rest were amateurs whose major activity lay elsewhere.The result was an inability to develop the full implications of their assumptions, which was supplemented by prejudice against intellectual labor too closely resembling the Scholasticism they despised. In addition, closely attached to particular societies in which, traditionally, no distinction was made between Christianity and citizenship, they were unable to ach

Economic Value Added

EVA is a way of measuring a firms profitability. EVA is NOPAT minus a scoot for whole expectant invested in the profession (Byrne 1). A more intuitive way to think of EVA is as the difference between a firms NOPAT and its total cost of capital (Kramer & Pushner 40). backside Staurts numerical definition of EVA is careful for any year by multiplying a firms economic book value of capital at the inauguration of the year by the spread between its sideboard on capital and its cost of capital (K) EVA=(Rt-Kt)*Ct-1 (Kramer &Pushner 41). EVA is a notion of residual income (Ehrbar Xi).Investors demand a rate of return proportional to the amount of risk incurred. operating(a) profits determine residual income by plotting them against the necessary rate of return, a product of both debt and loveliness. EVA takes into flyer all capital invested. Peter Druker says in his Harvard Business Review article, EVA is based on something we have cognize for a long time What we call profits, the money left to service equity, is not profit at all. Until a business returns a profit that is greater than its cost of capital, it operates at a loss. Never heed that it pays taxes if it had a genuine profit.The enterprise still returns less to the economy than it devours in resources. Until then it does not wee-wee wealth only destroys it (Ehrbar 2). EVA is a measure of wealth creation or destruction after all costs are capitalized. Companies use EVA as a measure of unified surgical process, as an incentive remains and as a link between shareholder and management/employee goals. Stock price indicates investors certainty concerning topical and future honorarium potential. EVA is a static measure of corporate performance MVA is a dynamic, forward looking for mart performance measure.MVA is a market generated number calculated by subtracting the Capital invested in a firm from the sum (V) of the total market value of the firms equity and book value of debt MVA=Vt-Ct (Kra mer & Pushner 42). Al Ehrbar describes MVA as exactly equivalent to the stock markets estimate of the NPV of a company. In 1998 CSX Corperation introduced EVA criteria to the fast growing only impression margin CSX Intermodal business, where trains deliver freight to waiting trucks or cargo ships. Large amounts of capital are required to causality a mammoth fleet of locomotive, containers and railcars.Figuring in capital costs, CSX Intermodal disjointed $70 gazillion in 1988. The CEO issued an ultimatum, et EVA up or be sold (Fortune, 39). CSX Intermodal freight volume increased by 25%, yet they dramatically reduced their capital cost by reducing the number of container and trailers by 22%, reducing their locomotive fleet by 33%, and reducing fuel costs. EVA in 1992 was $10 million dollars, and was expected to triple the following year. Wall Street responded CSX stock price rose from $28 before EVA to a 1993 price of $75.CSX concluded that investors care more about their net ca sh return on capital than accounting figures such as EPS, ROE and ROA. Companies that adopt EVA as a performance measure found tie-in compensation plans very useful in aligning management behaviour and shareholder needs. Typical plans consist of deuce familiar parts, a bonus and stock incentives, applied in new ways (Fortune 50). Bonus tails are established by a percent increase in EVA and recalculated each year by averaging the prior years goal and the prior years result.Bonus have no limits, but the manager incurs operating risk because some of the bonus is put in a bank, say, for five years. If everywhere the next five years management performs poorly, and EVA drops, the bank account is depleted. Management incurs the risks and benefits just as owners do. Joel Stern notes that in cases without an EVA incentive plan, employees suffer from a common problem. On average their fixed pay, salaries and pension, are too high, and their variable pay, profit sharing and share options, are to low (Ehbar XIX).Stern adds that size, not value, drives employees in normal incentive programs because size is positively correlated with increases in fixed pay and closely thereafter, variable pay, up to now if it destroys shareholder wealth. EVA protects shareholder disports by depositing variable pay into a deferred account that can be lost if value is eroded. EVA, as a corporate measure and a predictive tool, generates mixed reviews in the business and academic worlds. AT&Ts Jim Meen says, The correlation between MVA and EVA is very high.So when your brainish your business toward EVA, your really driving the correlation with market value (Kramer & Pushner, 43). Stern Stewart finds an R squared value of 60% based on 20 groupings of firms (Kramer & Pushner, 41). Contenders site statistical evidence to the contrary. BCG-Holt calculates an R square, after removing 21 outliers, of 27%. Dodd and Chen cogitation that EVA accounts for only 20. 2% of the variation in stock re turns for a sample of 500 companies, while ROA explains 24. 5% of market returns (Kramer & Pushner, 43).In their paper An Empirical Analysis of Economic Value Added as a deputy for Market Value Added, Kramer and Pushner examination the hypothesis that EVA is highly correlated with MVA. Simple regression analysis is use to test this hypothesis and other market determinants of market value such as NOPAT. First Kramer and Pushner test the relationship between the take aim of MVA and the level of EVA using the SS1000. In all cases the level of MVA positively relates to both NOPAT and EVA in the comparable and prior periods. However, in all cases, NOPAT explains more of the total variation in MVA than EVA (OByrne & Stewart 44).This suggests that the level of NOPAT is not only a founder proxy but alike a better soothsayer of corporate performance than the level of EVA. Results for weighted least squares, change in MVA and variations are described diagrammatically in appendix 1. Kr amer and Pushner conclude that there is no clear evidence that EVA is the best measure of corporate success in adding value to shareholder investments (Kramer and Pushner, 47). Stephen F. OByrne and Stern Stewart and Co. tested a similar hypothesis. Their objective is to order of battle that EVA provides a theoretical and practical measure of operating performance.OByrne and Stewart substantiate the explanatory power of EVA relative to net profit because, unlike previous studies, they recognize two important characteristics Multiples of positive EVA are significantly higher than multiples of ostracise EVA, which implies that companies with negative EVAs have values that are higher than what would be expected if the market valued EVA at the same multiple. Multiples of capital tend to decline with company size, which suggest that the market assigns higher multiples to a give level of EVA for smaller companies. Stewart, 117).OByrne and Stewart suggest at first glance that earnings and EVA have about the same level of success in explaining market value. The variance explained ranges around 32%. Taking into account the two characteristics listed above, the explanatory power of their model increases to 42%. Five-year changes in EVA explain 55% of the variation in market value, and ten-year changes in EVA explain 74% of the variation in ten-year changes. The NOPAT model has 15%-20% less explanatory power. The results of OByrne and Stewart question appear in appendix 2.They conclude that because EVA is systematically linked to market value, it proves to be a better predictor of market value than other performance measures. Proponents of EVA also argue that GAAP standards distort full-strength economic reality, produce unreliable corporate standards and serve as an unproductive compensation system. Harvard business shallow professor Baruch Lev states that Overall, the fragile association between accounting data and capital markets values suggest that improvemen t of financial reports is rather limited (Ehrbar, 161).Some differences in GAAP and economic reality stem from a bias toward conservative estimates, compounded by SEC requirements driving conservative financial policies. The principal deviation is GAAPs treatment of equity. The cost of equity should be capitalized. The cost of borrowed capital shows up in a companies interest expenditure. But the cost of equity capital, which the shareholders have contributed, typically appears nowhere in any financial statement-and equity is extraordinarily expensive (Fortune, 38).Ehrbar contends that GAAP distorts economic reality in areas such as R&D, strategical management, expense recognition, depreciation, restructuring charges, taxes and balance sheet try-ons (64). R&D under GAAP standards require Corporations to immediately expense R&D in the period in which they occur, where as managers and investors see R&D as an investment. GAAPs treatment of R&D reduces book value by writing down the asset to $0 EVA would capitalize R&D and amortize it over a period of time.Lastly, GAAP incentives can be ineffective motivators. For example, a retiring officers pension plan is linked to earnings. During their last year they might work on R&D to boost earnings because their pension plan is tied to performance. Operating earnings often serve as the benchmark for management compensation. Management has the incentive to negotiate a target that is easy to beat. Managers aim low, insuring their bonus. Trade loading is a second example of how GAAP can incite management decisions concerning bonuses and owner interests.EVA as a measure of financial performance is positively related MVA, but depending on the methodology, the result vary. Kramer and Pushner used truthful univariate regressions to compare EVA with other measures explaining EVA. Their results were mixed, NOPATs explanatory power in so-so(predicate) Least Squares Regressions outperformed EVA by 9%, however when weighted, EVAs explanatory power was higher overall and surpassed NOPAT by 6%. Kramer and Pushner note that the market focuses on profits rather than EVA.Investors rely on earnings estimates that are systematically calculated within the industry. This is not the case for FCF or EVA. Lastly, Kramer and Pushner observe, investors certainly need to be aware of capital structure, they should already by familiar with the opportunity cost of their investment and may not need to take this into the measure of performance (Kramer and Pushner 47). Investors may be familiar with the opportunity cost of their investments, although EVA analysis can earn problems, such as those created by GAAP accounting, that may not be recognized otherwise.Stephen OByrne and Stern Stewarts computer science required the recognition of two important characteristics that drastically changed the explanatory power of EVA. They note that simple a simple regression model, similar to the one used by Kramer and Pushner, depre sses the predictive power of EVA and inflates the predictive power of earnings (Stewart 120). EVA with industry coefficients explains and impressive 56% of the variation in actual market/capital ratios (Stewart 121). It also produces notable results for changes in EVA and market value over time. Far better results than NOPAT.My results using a simple linear regression model parallels Kramer and Pushners results. EVA in 1997 has the highest R square factor, at 33%, but is farthest from the results calculated by Stewart. EVAs R squared increased dramatically since 1992. This is consistent with the economic trend of the 90s, so the increase may not necessarily reflect an increase in EVA due to internal factors, but an external factor, such as the greatest economic expansion in recorded history. All quad factors consistently increase from 1992 to 1997. EVA could be a valuable tool if it is tailored to the company and industry.This requires an understanding and adjustment for different EVA multiples for positive and negative EVA and different capital multiples for different size companies. This requires complex calculations, a on a regular basis cited problem. However, in this context EVA lives up to its reputation as a great measure of corporate performance. other functions, such as aligning employee and shareholder goals, the basis for an incentive system and a more virtual(prenominal) picture of economic reality, makes EVA more attractive. I would recommend using Stern Stewart model to calculate EVA.