Behavioural Finance Limits Of Arbitrage Essay Example Pdf - Free Essay Example

Sample details Pages: 6 Words: 1859 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Behavioural Finance does not negate the arbitrage mechanism per se and its price correcting ability. However, it argues that not every deviation from fundamental value created by actions of irrational traders will be an attractive investment opportunity for rational arbitrageurs (Szyszka, ). Even when an asset is highly mispriced, many arbitrage strategies which are designed to correct and eliminate the fundamental mispricing, are ultimately risky and costly for the arbitrageur. Therefore many strategies are perceived to be unattractive which results in the mispricing remaining unchallenged for a comparatively long period of time. The theory of arbitrage can be traced back to Friedman (1953), he stated that rational traders will quickly undo any mispricing caused by irrational traders. An example to illustrate this argument is cited in Baberis and Thaler (2002) Suppose that the fundamental value of a share of Ford is $20. Imagine that a group of irrational t raders becomes excessively pessimistic about Fords future prospects and through its selling, pushes the price to $15. Defenders of the EMH argue that rational traders, sensing an attractive opportunity, will buy the security at its bargain price and at the same time, hedge their bet by shorting a substitute security, such as General Motors, that has similar cash flows to Ford in future states of the world. The buying pressure on Fords shares will then bring their price back to fundamental value. Friedmans argument is based on two underlying assumptions. Firstly, as soon as an asset deviates from its fundamental value, an attractive investment opportunity will arise from this mispricing. Secondly, rational traders will immediately react to the situation by purchasing the asset, thereby correcting the mispricing. Behavioural Finance doesnt dispute the fact that an attractive investment opportunity will be exploited, it argues that arbitrage strategies that are developed to correct the mispricing can be both risky and costly, resulting in the mispricing remaining unchallenged. Fundamental Risk When an arbitrageur observes a mispriced asset on the market, they need to find a similar asset which is priced correctly on another market, to enable them to correct this mispricing. Thus, taking an opposite arbitrage position. If the trader is unable to take up this position they face fundamental risk. That is, the risk that new information comes to the market and changes the fundamental value of the asset in the wrong direction. Referring back to the example of Ford and General Motors cited Baberis and Thaler (2002), if the trader buys Fords stock at $15, but then there is bad news in the market which causes the stock to fall below the initial purchase value, this will result in losses for the trader. Even if the arbitrageur has a short substitute security such as General Motors, the problem is, substitute securities are rarely perfect and often highly imperf ect, making it almost impossible for the trader to remove all the fundamental risk. Therefore, by shorting Generla Motors, it protects the arbitrageur against adverse news about the car industry as a whole, however, it still leaves them exposed to bad new that is specific to Ford. Even when arbitrageurs are able to hedge the fundamental risk that they face and take a long position in the asset where it is cheaper and a short position in the same asset on another market where it is more expensive, the trader is still exposed to Noise Trader Risk. Noise Trader Risk Noise trader risk can be defined as, the risk that irrationality on the market may become stronger and may drive mispricing to an even grater extent (Shleifer Vishny (1997). As the mispricing increases, the gap between long and short positions increases which in turn goes against the belief of rational arbitrageurs. If this trend continues, an arbitrageur whose investment horizon is usually relatively short and wh o often borrows money to fund their trades, may be forced to close their positions before the mispricing is corrected, ultimately resulting in them suffering significant losses. Shleifer (2000), has argued that noise trader risk, the risk from traders who are attempting to buy into rising markets and sell into declining markets, limits the extent to which one should expect arbitrage to bring prices quickly back to rational values, even in the presence of an apparent bubble. Even the most rational arbitrageurs will regret selling a share short which may collect a greater price in the future, even if that price is unreasonably high. Noise traders can be defined as those whose investment decisions rely more on psychological factors than on sound investment management principles (Friedman, 1953). According to the EMH, an irrational investors trading cannot be effective in the long run as efficient rational arbitrageurs will counteract their trades eliminating them from the market. Fu rthermore, noise traders buy and sell shares in an uncorrelated random manner and in turn their trades cancel each other out, leaving asset prices unaffected. However, the evidence of persistent anomalies in the stock market dictates that noise traders can most definitely affect equilibrium prices even in the long run. According to De Long et al (1990), this is because rational arbitrage in reality is not only limited but can also create by itself price inefficiency under certain circumstances. The understanding behind the ability of noise traders to alter the fundamental value of a stock lies in the limitations faced by rational arbitrageurs. The two main limitations are short investment horizons and risk aversion. Rational arbitrageurs cannot entirely eliminate the effects of noise traders on the market if the size and the ability of the former group to trade are very limited (Camerer, 1989). Consequently, a single arbitrageur who notices a mispricing in the market faces not only the noise trader risk, but also the risk of synchronization of actions of other rational traders (Abreu Brunnermeier (2002). Typically a single arbitrageur does not have the momentum to correct the mispricing on their own. The individual needs other arbitrageurs who will follow his strategy. However, the individual does not know if and how quickly other rational traders will react to the same arbitrage opportunity and take up a similar positions. Also, the risk aversion of arbitrageurs by itself limits their ability to cancel noise traders, even if arbitrageurs have infinite buy-and-hold horizons (Shiller, 1984). As stated by Black (1986), if noise traders undervalue or overvalue stocks for a long period of time, the short horizon under which arbitrageurs performance is evaluated limits their ability to force asset prices back to their fundamental values. As a result, due to the limitations of arbitrage noise traders are able to force asset prices away form their equilibrium value for extended periods of time. Rational arbitrageurs also have to realise that noise trader strategies may become even more extreme and unpredictable, resulting in increased risk for the arbitrageur. This additional risk can be referred to as noise investor risk. Noise investor risk is systematic and non-diversifiable which in turn creates additional volatility on the stock markets. Rational arbitrageurs would not bear this risk unless compensated with higher expected returns (De Long et al., 1990). This once again limits the successfulness of rational arbitrageurs. Implementation Barriers Arbitrage can become a costly activity for a number of reasons. Firstly, transaction costs which include bid-ask spreads, commissions and price impact can limit the arbitrageur in exploiting an obvious mispricing. Secondly, the fees charged for borrowing stocks to take a short position can often be off-putting. As cited by Baberis and Thaler (2002), DAvolie (2002) finds That for most stocks, they range between ten and fifteen basis points but they can be much larger; in some cases, arbitrageurs may not be able to find shares to borrow at any price. A further barrier they may face is legal constraints. For example, in many large pension funds short-selling is prohibited altogether. Finally, the vast amount of research and learning required to exploit a mispricing in a further deterrent. Shiller (1984) found that even if noise trader demand causes a persistent mispricing it ay not be detectable for arbitrageurs without large amounts of time and resources. Evidence Limits of arbitrage have been confirmed empirically by cases of evident mispricing that remain unchallenged in the market for long periods of time. An example of this is the case of twin shares. In 1907, Royal Dutch and Shell merged their interests on a 60:40 basis while both remaining separate entities. The stocks of Royal Dutch traded mostly on the US and Dutch Stock Exchange and were to claim 60 percent of the total cash flow, while shares in Shell which traded in the UK were to claim 40 percent of the total cash flow of the two firms. Theoretically, the market value of Royal Dutch equity should always be 1.5 times greater than the market value of Shell. Empirical evidence shows that Royal Dutch was sometimes 35 percent underpriced relative to Shell and at times they were 15 percent overpriced. It took until 2001 for the shares to finally sell at their correct values. This is a key example where two shares that are perfect substitutes to each other would allow the opportunity of easy arbitrage profits. The main risk in this situation is noise trader risk, there is the fear that the share will become even more undervalued in the near future. A further example of the limits of arbitrage comes form carve-outs. This involves transactions when a publicly listed mother company sells a majority stake in its daughter company in the Initial Public Offer (IPO). Baberis and Thaler (2002) give an empirical example of this. In March 2000, 3Com sold 5 percent of its wholly owned subsidiary Palm inc. in an IPO, retaining the remaining 95 percent. After the initial offer, a shareholder in 3Com indirectly owned 1.5 shares of Palm Inc. At close of business on the first day after the offering, Palm Inc. shares were valued at $95, putting a theoretical value of 3Com at $142 per share. What actually happened was 3Coms trading price was $81 per share, implying a market valuation of 3Coms business out side of Palm Inc. at around minus $60 per share. In this extreme case the market value of stocks offered by the IPO was higher than the valuation of the whole mother company holding a majority stake in the daughter company. This mispricing occurred for several weeks. Baberis and Thaler (2002) analyse this case and argue that implementation costs prevented arbitrageurs profiting from this mispricing. Yet another example comes from the inclusion of a new stock on the SP 500. Schleifer (1986) discovered that when a stock is added to the index, on average, the price jumps by 3.5 percent and much of this increase remains. A prime example of this is when Yahoo was added to the index, its share price rocketed 24 percent in a single day. Arbitrage is limited in this case due to the fundamental risk and noise trader risk faced by traders. They may find it is very difficult to find a substitute stock and also there is the risk that the price will continue to rise in the short run. In the case of yahoo, its share price was $115 before its addition in the index and it had risen to $214 a month later. In all of these above examples, rational arbitrageurs face risks, costs and problems with their fundamental strategies which makes arbitrage unappealing for the trader.. Don’t waste time! Our writers will create an original "Behavioural Finance Limits Of Arbitrage Essay Example Pdf" essay for you Create order

Strategies for Transitioning Preschool with Autism...

This is an article review of Anthony M. Denkyirah and Wilson K. Agbeke 2010, which investigated the Strategies for Transitioning Preschool with Autism Spectrum Disorder to Kindergarten. The article was published in Early Childhood Education Journal. Research (Rice and O’Brien (1990), Rule et al. (1990), and Wittmer et al. (1996) found that an Autism Spectrum Disorder (ASD) children who sustained suitable services in their preschool years, they are able to face academic challenges and try to continue developing their cognitive, living and social skills. How the children with ASD adopt the transition to kindergarten it’s depend partly on how the teachers control, manage and develop strategies when working with their family. This research†¦show more content†¦Parents and teachers need to identify factors strengthening them like giving cookies or other, in addition to the praise given. Two major types experience by ASD children are vertical and horizontal transition. Where vertical transition is like preschool program to kindergarten, while horizontal transition for the development and predictable scope. Parents and teachers can also use social reinforcement to ensure that they show good behavior and keep learning. It is important to maintain a regular schedule is followed, making the environment as something to be expected by the child. When the need to make changes, guardian or teacher must be prepared for children with autism will become uncomfortable and show resisting behavior. While in communication, the increase can be done using the appropriate movement and gestures. DISCUSSION OF IMPLICATION Based on the study, only teachers with special education qualification were credential to participate in this case. Of course the one who had taught or were teaching preschool with Autism Spectrum Disorder children are selected for this survey. For private school like mine, it is very difficult to deal with ASD children because we don’t have qualification towards that. The parents supposed send their children to special school but they don’t. Some of them denied or cannot accept that their children have this kind of problem. As parents they want the

The Influence of Technology in Human Resource Management Free Essays

Information technology, also known as IT, has drastically changed the workplaces of the world in the past 50 years. The field of human resources has historically been limited to a clerical or administrative role in the business arena, dealing mainly with tasks like payroll or attendance. In the modern market, new core HR responsibilities include recruitment and training, oversight of legal and regulatory compliance, benefits administration and the safeguarding of confidential employee information, along with many more. We will write a custom essay sample on The Influence of Technology in Human Resource Management or any similar topic only for you Order Now These tasks cannot be carried out effectively without the use of high-tech tools. Advances in technology have not only made the handling of basic administrative tasks more efficient, they have expanded the role of HR and created new disciplines within the field. Database management systems are a prime example of how technology has facilitated the growth and expansion of the HR field. Using a DBMS streamlines the management of employee information. Data entry and tracking, analysis of employee information, benefits administration and applicant tracking are all made easier and less time consuming, with the information available and organized with the punch of a key (Laudon and Laudon, 165). Human resource outsourcing is a rapidly growing field all on its own. Many businesses, small and large alike, are turning to HR specialization firms such as Aon Human Capital Services, Hewitt Associates, and Affiliated Computer Services. The Braun Consulting Group reported that while saving money is the reason for outsourcing for about half of the companies surveyed, gaining outside expertise, improving service quality, and being able to focus on their core business were also cited as key motivators. These companies characteristically offer services in four principal areas of HR functionalities: payroll, time and labor management, benefits administration, and HR management. Some of the most widely used software applications are payroll and compensation management software. Payroll software is designed to automate payroll tasks, including managing payroll tax issues like federal and state calculations. Additionally, payroll software assists in creating paychecks, filing tax forms, and creating employee tax records. Compensation management oftware automates salary reviews, plans, and budgeting to name a few. This software may be hosted in-house by the operating organization, or may be web-based. Web based providers include Oasis Outsourcing, Intuit, and Amycheck. These service providers have assisted small businesses and large corporations alike in streamlining payroll and benefits management. Employee recruitment and training are widely considered to be two of the most important t asks in human resource management. Attracting and retaining competent, reliable employees is necessary for success in any business. The advent of the Internet has drastically altered the way organizations search for candidates, and vice versa. The Internet allows businesses to reach a much greater pool of candidates with a greater range of knowledge, skills, and abilities, which in turn increases the odds of finding a good match for the position(s). Larger organizations often employ their HRIS departments in developing in-depth company websites with detailed job descriptions and requirements, as well as the organization’s mission statement and corporate culture, in an effort to attract employees that fit with the attitude and values of the company. Smaller organizations cannot afford to create and maintain a large and often expensive website like this, but there are many options for outsourcing online recruitment. In addition to outsourced companies, large job posting websites such as Monster. com are popular sites for people searching for jobs to post resumes and search for a wide range of openings. Technology has also been implemented in training employees. E-learning is a widely used tool in employee training and development. The term â€Å"E-learning† includes any form of training done with electronic support. This includes online training and development, tele-class training, chat room training, and video training. The advantages of these forms of training include convenience and the ability to control the pace of the instruction. The use of this medium, however, should mainly be limited to teaching the basic concepts and skills needed for the job, with more in-depth classic training for more specific skills or needs (Smith and Mazin 69). â€Å"Communication is the key to any change† (Rudnick, 45). In any business, ffective communication between employees, managers, and customers is not just a nice perquisite, it is vital to the success (or failure) of the organization. The era of paper memos, faxes, and â€Å"regular† mail is on its way out the door. Email has rapidly become the most widely used form of communication in the business world. Instant messaging, internal databases, and bulletin boards are also well used to communicate with suppliers, employees, and customers al ike (Laudon and Laudon, 191). The explosion of cellular phone and smartphone usage has also transformed the way organizations do business. Many organizations are allowing employees to work more hours from home, conducting business over the internet and phone. Hours are more flexible, and it is no longer necessary for a physical presence in the office for a large portion of the work. Communications with customers are also altered. The Internet has opened a vast new market to many businesses. A webpage has the potential to introduce the company to millions of new customers, and also allows for easier payments, shopping, and ordering, all from home. Businesses also have an increased opportunity for improving customer relations, thanks to the Internet. Feedback is available almost instantly via email, online discussion forums, and social media. The speed of the feedback allows organizations more time to troubleshoot problems and build relationships with satisfied, returning customers. In HR, this growth in the means of communication has opened new paths to employee relations as well. Many times, employees have avoided complaining about valid concerns due to fear of retaliation. The ability to send emails provides a relative anonymity that allows for more freedom of communication between the human resources department and a company’s workers. This also allows more ready access to information such as disciplinary guidelines and employee handbooks; keeping employees informed helps to improve the overall attitude of the workplace. One of the newest trends is social networking sites. Millions of people are registered with such sites as Facebook, MySpace, or LinkedIn. A TUC briefing on social media and HR lists some of the larger issues surrounding the use of these sites. Usage of these sites by employees certainly could be trouble for human resource managers. There is the worry that accessing these sites during work hours, on work stations, will interfere with productivity. Also, the conduct of employee’s on these websites has become a potential concern. Posts dealing with breaches of commercial confidentiality or undermining a company’s reputation could potentially require disciplinary action. These issues are still controversial at this point. Many advances in technology pertain to assisting disabled people in performing everyday tasks that they would otherwise be unable to do. As Don Dalton says, these solutions â€Å"remove the â€Å"dis† from various disabilities† and make their transition into the workforce much easier. This allows companies to hire a more diverse staff and keeps them compliant with EEOC. For people with physical impairments, Dalton lists a wide variety of available technology that can assist in using a computer, for example. The most cost effective is voice recognition software, but there are also many different types of keyboards as well as a head-mounted mouse controller that can be obtained for use in the workplace. Blind people also have options available. Speech synthesizers, document readers, and screen review packages give the blind the ability to access computer documents as easily as those who can see. These technologies and more allow companies to be compliant with the Americans with Disabilities Act of 1990. With this explosion of connectivity and technology in the workplace, security is also a huge concern. Hacker, theft, fraud and vandalism have been a classic worry of a business’s databases (Laudon and Laudon, 232). With the growing computer literacy of the workforce, and the growing use of computers at work for personal reasons, organizations are becoming more worried about threats from online sources to their networks. Malware became the leading threat to business’s online security in 2007 (Dumitru, 2). While these problems may seem to be a problem for the IT department, the human resources department should also keep up to date on computer security as well. The information in employee files is sensitive, and every precaution should be taken to insure it stays private, including tough security policies as well as strong firewalls. â€Å"The greatest tragedy in America is not the destruction of our natural resources, though that tragedy is great. The truly great tragedy is the destruction of our human resources by our failure to fully utilize our abilities, which means that most men and women go to their graves with their music still in them. Oliver Wendell Holmes said it best. The abilities, knowledge, and talents of an organization’s workforce are the biggest assets. Without qualified, motivated workers, any business great or small is doomed to failure. The past fifty years have been a remarkable tale of technological advances, however it should always be remembered that th e technology is here to assist and uplift men in their endeavors, not replace them. These advances have transformed the field of human resource management from a minor departmental position to playing a key role in the development and growth of any organization. How to cite The Influence of Technology in Human Resource Management, Essays

Traditional Classroom Learning and Online Learning- myassignmenthelp

Question: Discuss about theTraditional Classroom Learning and Online Learning. Answer: Introduction As people seek and institutions seek to improve the learning experience major shifts have been experienced in the education field especially the adoption of technology in learning. This paper aims at analyzing the similarities and differences between Classroom and online learning Similarities Assignments One of the basic similarities between online and traditional classroom learning is the fact that in both modes of learning the concept of class assignments is a reality. Whether one chooses to attend a classroom in a traditional setting, or in an online setting, they will be required to do course-related assignments from time to time (Hallam,2015). Class discussions and collaborations Discussions and collaborations are an important aspect of the learning process. In both traditional based and online class formats .team work, and discussions are practiced. While under the traditional class setting students have a chance to ask questions and offer ideas in lecture halls. Online, learning gives an opportunity for students to engage in an online discussion with fellow students and lectures. Apart from group assignments in the traditional classroom context, online learners are also given group assignments in which they communicate through mobiles phones and emails (Brosche Feavel,2011). Use of textbooks and online resources Both online learning and traditional class set up involve the use of textbooks and online resources for studying and undertaking assignments. Texts books used by both Online and traditional classroom learners studying similar courses are similar which eliminates any discrepancies in the learning process. While traditional classroom learners may be in possession of hardcopy books. Online learners may be provided with electronic books, but the content is similar (Hallam,2015). Differences Classroom setting There is a major difference in the setting of the traditional classroom and online learning. In the traditional classroom learning, several people gather together in specific classes or lecture halls at specified times to learn in a teacher driven style. The learning process may also involve Students learning through face to face discussions with their peers. In contrast, Online learning allows the learner to have a flexible learning schedule where they can choose their most convenient time and at the place of their choice. Online learning is, therefore, more user-driven in which students have control over their learning times and paces(O'Neil,et al,2009) Learning styles Both the learning styles used in traditional and online classroom setup vary. In traditional classroom setup, collaborative learning approaches which involve face to face interactions within an outside the classroom are mostly used as. This approach is quite useful for students who require academic support from time to time. Online learning, on the other hand, is based more on an independent style of learning where learners have the sole responsibility of balancing between their school and personal lives. Online programs also have a high reliance on technology as compared to the traditional classroom context (O'Neil,et al,2009) In-depth Feedback Feedback is an important component of the learning process. While feedback is used by instructors in both traditional and online learning, its levels differ in the two methods. For online courses, the level of feedback given by Instructors is higher as compared that given in a normal classroom setup. Instructors may go to the extent of providing online learners with detailed written or visual critiques of assignments. Perhaps the lack of detailed feedback in traditional classes is because the frequency of feedback in such setups is high (Information Resources Management Association,2010). Conclusion In conclusion, both similarities and differences exist between online and traditional classroom learning. The most notable similarities are assignments in the learning process, use of discussions and collaborations and use of online resources and textbooks. Major differences have to do with the type of feedback, classroom setup, and learning styles. Reference List Brosche, T. A. M., Feavel, M. (2011). Successful online learning: Managing the online learning environment efficiently and effectively. Sudbury, Mass: Jones and Bartlett. Hallam, J. (2015). Blended Online Learning versus Traditional Classroom Learning: A Comparison of Mathematics Content Mastery for High School Students of Homeowners and Non-Homeowners. Information Resources Management Association. (2010). Web-based education: Concepts, methodologies, tools and applications. Hershey, Penn: Information Science Reference. O'Neil, C. A., Fisher, C. A., Newbold, S. K., Newbold, S. K. (2009). Developing online learning environments in nursing education. New York: Springer.

Producers(Career Paper) Essays - Music Production, Record Producer

Producers(Career Paper) Introduction I believe by researching this career, I will learn more about what its like to be a producer. I also believe that my research will help me choose what occupation Id like to have when I finish school. I chose this profession as the topic of my career paper because I want to learn more about it because I may be interested in going into this career. Job Description Producers have financial and administrative control over the making of movies, plays, and TV shows. Producers hire directors, principal members of the cast, and negotiate contracts with artistic personnel, often in accordance with collective bargaining agreement (Actors, Directors, and Producers 180). Together with the director, the producer also hires other members of the staff. A large staff includes several production assistants, associate producers, or assistant producers who are in charge of various parts of the production. These assistants help producers perform their task. During production, the producer is in charge of all the people involved in the movie, television, or theater project, including actors, directors, and production workers (CIC 154). Kaci Wall Anyone with enough money can produce a play or movie. A person successful in business who has contacts in the theater may raise the money to produce a play. Someone experienced in films, such as a director, may raise enough money to produce a film. Producers are entrepreneurs. They select plays or scripts, arrange financing, and decide on the size of the production and its budget. (CIC 154). Movie producers may be employed by film studios or may work independently. Producers who work for large film companies usually have experience both in films and business. The job of producer can be approached from either field. A lot of money goes into these productions, and the producers job is to raise the money needed and see that its spent wisely. Its the producers responsibility for ultimately turning a profit for the investors. A good producer would recognize a successful show or movie while its still in planning stages. A smart producer spots a bad idea, more often than not, before too much money is wasted on it (CIC 154). Kaci Wall Education Required There are no standard educational or training requirements for the position of producer (CIC 154). Most producers have studied film, video production, or drama at the college level. Many have also trained as actors in dramatic arts schools. People who may be accepted need at least a bachelors degree or two years of on-set experience and also must pass written tests. Courses in acting and communications can be helpful. College drama courses in liberal arts, stage speech and movement, directing, playwriting, history of drama, and design and play production can be helpful also. (GIS 1). Talent and experience are very important to getting a job in this field. Producers need good business sense to handle finances. Movie and play producers need to have enough personal contacts to be able to raise money, hire staff, and find distributors (GIS 1). Expected Earnings In general, the pay for producers is good. Producer salaries range from $25,000-$70,000. Executive producers make even higher salaries, sometimes up to $200,000. A producer can earn a few thousand dollars, or a Kaci Wall few hundred thousand dollars for a production. Those with larger budgets earn much more than other producers (GIS 1). Job Outlook The number of producers is small. Few new producers are hired each year by the large TV and film companies (CIC 155). Employment of producers is expected to grow faster than the average for all occupations through 2008. In addition, an even greater number of job openings are expected to arise from the need to replace workers who leave the field. Nevertheless, competition for these jobs will be stiff, as the glamour of actor, director, and producer jobs, coupled with the lack of formal entry requirements will attract many people to these occupations. As in the past, only the most talented will find regular employment (OOH). Contribution Entertainment is very important to society today, which is why I think this occupation is important. Most people like to watch television, movies, or plays, and without this option, many people would be very disappointed. Without producers, television programs, movies, and plays would not be possible. They are

Constructing the Empire State Building

Constructing the Empire State Building Ever since it was built, the Empire State Building has captured the attention of young and old alike.  Every year, millions of tourists flock to the Empire State Building to get a glimpse from its 86th and 102nd-floor observatories. The image of the Empire State Building has appeared in hundreds of ads and movies. Who can forget King Kongs climb to the top or the romantic meeting in An Affair to Remember and Sleepless in Seattle?  Countless toys, models, postcards, ashtrays, and thimbles bear the image if not the shape of the towering Art Deco building. Why does the Empire State Building appeal to so many? When the Empire State Building opened on May 1, 1931, it was the tallest building in the world - standing at 1,250 feet tall. This building not only became an icon of New York City, but it also became a symbol of twentieth-century mans attempts to achieve the impossible. The Race to the Sky When the Eiffel Tower (984 feet) was built in 1889 in Paris,  it  taunted American architects to build something taller. By the early twentieth century, a skyscraper race was on. By 1909 the Metropolitan Life Tower rose 700 feet (50 stories), quickly followed by the Woolworth Building in 1913 at 792 feet (57 stories), and soon surpassed by the Bank of Manhattan Building in 1929 at 927 feet (71 stories). When John Jakob Raskob (previously a vice president of General Motors) decided to join in the skyscraper race, Walter Chrysler (founder of the Chrysler Corporation) was constructing a monumental building, the height of which he was keeping secret until the buildings completion. Not knowing exactly what height he had to beat, Raskob started construction on his own building. In 1929, Raskob and his partners bought a parcel of property at 34th Street and Fifth Avenue for their new skyscraper. On this property sat the glamorous Waldorf-Astoria Hotel. Since the property on which the hotel was located had become extremely valuable, the owners of the Waldorf-Astoria Hotel decided to sell the property and build a new hotel on Park Avenue (between 49th and 50th Streets). Raskob was able to purchase the site for approximately $16 million. The Plan to Build the Empire State Building After deciding on and obtaining a site for the skyscraper, Raskob needed a plan. Raskob hired Shreve, Lamb Harmon to be the architects for his new building. It is said that Raskob pulled a thick pencil out of a drawer and held it up to William Lamb and asked, Bill, how high can you make it so that it wont fall down?1 Lamb got started planning right away. Soon, he had a plan: The logic of the plan is very simple. A certain amount of space in the center, arranged as compactly as possible, contains the vertical circulation, mail chutes, toilets, shafts and corridors. Surrounding this is a perimeter of office space 28 feet deep. The sizes of the floors diminish as the elevators decrease in number. In essence, there is a pyramid of non-rentable space surrounded by a greater pyramid of rentable space. 2 But was the plan high enough to make the Empire State Building the tallest in the world? Hamilton Weber, the original rental manager, describes the worry: We thought we would be the tallest at 80 stories. Then the Chrysler went higher, so we lifted the Empire State to 85 stories, but only four feet taller than the Chrysler. Raskob was worried that Walter Chrysler would pull a trick - like hiding a rod in the spire and then sticking it up at the last minute. 3 The race was getting very competitive. With the thought of wanting to make the Empire State Building higher, Raskob himself came up with the solution. After examining a scale model of the proposed building, Raskob said, It needs a hat!4 Looking toward the future, Raskob decided that the hat would be used as a docking station for dirigibles. The new design for the Empire State Building, including the dirigible mooring mast, would make the building 1,250 tall (the Chrysler Building was completed at 1,046 feet with 77 stories). Who Was Going to Build It Planning the tallest building in the world was only half the battle; they still had to build the towering structure and the quicker the better. For the sooner the building was completed, the sooner it could bring in income. As part of their bid to get the job, builders Starrett Bros. Eken told Raskob that they could get the job done in eighteen months. When asked during the interview how much equipment they had on hand, Paul Starrett replied, Not a blankety-blank [sic] thing. Not even a pick and shovel. Starrett was sure that other builders trying to get the job had assured Raskob and his partners that they had plenty of equipment and what they didnt have they would rent. Yet Starrett explained his statement: Gentlemen, this building of yours is going to represent unusual problems. Ordinary building equipment wont be worth a damn on it. Well buy new stuff, fitted for the job, and at the end sell it and credit you with the difference. Thats what we do on every big project. It costs less than renting secondhand stuff, and its more efficient.5 Their honesty, quality, and swiftness won them the bid. With such an extremely tight schedule, Starrett Bros. Eken started planning immediately. Over sixty different trades would need to be hired, supplies would need to be ordered (much of it to specifications because it was such a large job), and time needed to be minutely planned. The companies they hired had to be dependable and be able to follow through with quality work within the allotted timetable. The supplies had to be made at the plants with as little work as possible needed at the site. Time was scheduled so that each section of the building process overlapped - timing was essential. Not a minute, an hour, or a day was to be wasted. Demolishing Glamor The first section of the construction timetable was the demolition of the Waldorf-Astoria Hotel. When the public heard that the hotel was to be torn down, thousands of people sent requests for mementos from the building. One man from Iowa wrote asking for the Fifth Avenue side iron railing fence. A couple requested the key to the room they had occupied on their honeymoon. Others wanted the flagpole, the stained-glass windows, the fireplaces, light fixtures, bricks, etc. Hotel management held an auction for many items they thought might be wanted.6 The rest of the hotel was torn down, piece by piece. Though some of the materials were sold for reuse  and  others were given  away for kindling, the bulk of the debris was hauled to a dock, loaded onto barges, and then dumped fifteen miles into the Atlantic Ocean. Even before the demolition of the Waldorf-Astoria was complete, excavation for the new building was begun. Two shifts of 300 men worked day and night to dig through the hard rock in order to make a foundation. Raising the Steel Skeleton of the Empire State Building The steel skeleton was built next, with work beginning on March 17, 1930. Two-hundred and ten steel columns made up the vertical frame. Twelve of these ran the entire height of the building (not including the mooring mast). Other sections ranged from six to eight stories in length. The steel girders could not be raised more than 30 stories at a time, so several large cranes (derricks) were used to pass the girders up to the higher floors. Passersby would stop to gaze upward at the workers as they placed the girders together. Often, crowds formed to watch the work. Harold Butcher, a correspondent for Londons  Daily Herald  described the workers as right there in the flesh, outwardly prosaic, incredibly nonchalant, crawling, climbing, walking, swinging, swooping on gigantic steel frames.7 The riveters were just as fascinating to watch, if not more so. They worked in teams of four: the heater (passer), the catcher, the bucker-up, and the gunman. The heater placed about ten rivets into the fiery forge. Then once they were red-hot, he would use a pair of three-foot tongs to take out a rivet and toss it - often 50 to 75 feet - to the catcher. The catcher used an old paint can (some had started to use a new  catching  can  made  specifically for the purpose) to catch the still red-hot rivet. With the catchers other hand, he would use tongs to remove the rivet from the can, knock it against a beam to remove any cinders, then place the rivet into one of the holes in a beam. The bucker-up would support the rivet while the gunman would hit the head of the rivet with a riveting hammer (powered by compressed air),  shoving  the rivet into the girder where it would fuse together. These men worked all the way from the bottom floor to the 102nd floor, over a thousand fe et up. When the workers finished placing the steel, a massive cheer rose up with hats  waiving  and a flag raised. The very last rivet was ceremoniously placed - it was solid gold. Lots  of Coordination The construction of the rest of the Empire State Building was a model of efficiency. A railway was built at the construction site to move materials quickly. Since each railway car (a cart pushed by people) held eight times more than a wheelbarrow, the materials were moved with less effort. The builders innovated in ways that saved time, money, and manpower. Instead of having the ten million bricks needed for construction dumped in the street as was usual for construction, Starrett had trucks dump the bricks down a chute which led to a hopper in the basement. When needed, the bricks would be released from the hopper, thus dropped into carts which were hoisted up to the appropriate floor. This process eliminated the need to close down streets for brick storage as well as eliminated much back-breaking labor of moving the bricks from the pile to the bricklayer via wheelbarrows.9 While the outside of the building was being constructed, electricians and plumbers began installing the internal necessities of the building.  The timing  for each trade to start working was finely tuned. As Richmond Shreve described: When we were in full swing going up the main tower, things clicked with such precision that once we erected fourteen and a half floors in ten working days - steel, concrete, stone and all. We always thought of it as a parade in which each marcher kept pace and the parade marched out of the top of the building, still in perfect step. Sometimes we thought of it as a great assembly line - only the assembly line did the moving; the finished product stayed in place.10 The Empire State Building Elevators Have you ever stood  waiting  in a ten - or even a six-story building for an elevator  that seemed to take forever? Or have you ever gotten into an elevator and it took forever to get to your floor because the elevator had to stop at every floor to let someone on or off? The Empire State Building was going to have 102 floors and expected to have 15,000 people in the building. How would people get to the top floors without waiting hours for the elevator or climbing the stairs? To help with this problem, the architects created seven banks of elevators, with each servicing a portion of the floors. For instance, Bank A serviced the third through seventh floors while Bank B serviced the seventh through 18th floors. This way, if you needed to get to the 65th floor, for example, you could take an elevator from Bank F and only have possible stops from the 55th floor to the 67th floor, rather than from the first floor to the 102nd. Making the elevators  faster was another solution. The Otis Elevator Company installed 58 passenger elevators and eight service elevators in the Empire State Building. Though these elevators could travel up to 1,200 feet per minute, the building code restricted the speed to only 700 feet per minute based on older models of elevators. The builders took a chance, installed the faster (and more expensive) elevators (running them at the slower speed) and hoped that the building code would soon change. A month after the Empire State Building was opened, the building code was changed to 1,200 feet per minute and the elevators in the Empire State Building were sped up. The Empire State Building Is Finished! The entire Empire State Building was constructed in just one year and 45 days - an amazing feat! The Empire State Building came in on time and under budget. Because the  Great Depression  significantly lowered labor costs, the cost of the building was only $40,948,900 (below the $50 million expected price tag). The Empire State Building officially opened on May 1,  1931, to a lot of fanfare. A ribbon was cut, Mayor Jimmy Walker gave a speech, and President  Herbert Hoover  lit up the tower with a push of a button. The Empire State Building had become the tallest building in the world and would keep that record until the completion of the World Trade Center in New York City in 1972. Notes Jonathan Goldman,  The Empire State Building Book  (New York: St. Martins Press, 1980) 30.William Lamb as quoted in Goldman,  Book  31 and John Tauranac,  The Empire State Building: The Making of a Landmark  (New York: Scribner, 1995) 156.Hamilton Weber as quoted in Goldman,  Book  31-32.Goldman,  Book  32.Tauranac,  Landmark  176.Tauranac,  Landmark  201.Tauranac,  Landmark  208-209.Tauranac,  Landmark  213.Tauranac,  Landmark  215-216.Richmond Shreve as quoted in Tauranac,  Landmark  204. Bibliography Goldman, Jonathan.  The Empire State Building Book. New York: St. Martins Press, 1980.Tauranac, John.  The Empire State Building: The Making of a Landmark. New York: Scribner, 1995.

Business Plan Essay Example | Topics and Well Written Essays - 3000 words - 2

Business Plan - Essay Example The restaurant will specialize in a combination of fast cold or hot sandwiches and salads. It will also have specific recipes for the Dubai locals. The FWD’s unique menu, excellent location and repeat business are the main keys to the restaurants success. The restaurant will basically be a sole proprietorship owned by Ursula. The initial capital investment will be $30000. An additional of capital of $20000 will be raised in short term loan. The company will however overcome these challenges due to its excellent location. Further, it intends to draw into its main target market segment (business professionals) by providing a suitably upscale environment. For the restaurant to achieve the highest sales volume especially during its peak hours, it will seek to provide the customers with quality food and maximum number of services. It has planned charge a slightly higher price on its product and services that the competitors to justify for its upscale establishment and also cover for the operating costs that are expected to be higher because of the expanded and differentiated menu. First World Delicacies (FWD) is a new era restaurant that focuses on fast, nutritious and, healthy food to the local downtown area in Dubai. The restaurant will specialize in a combination of fast cold or hot sandwiches and salads. It will also have specific recipes for the Dubai locals. The distinct menu offered by the FWD allows it to follow a differentiation strategy which will allow it to provide hard to find or unique choices to its customers. All these will enable the restaurant to charge a slightly higher price that the customers thereby returning a significant profit. FWD is basically a restaurant which has both lunch and dinner menus. It also treats customers who come for dinner with a theme show. First World Delicacies (FWD) is a new era restaurant that

The Cuban Missile Crisis Research Paper Example | Topics and Well Written Essays - 500 words

The Cuban Missile Crisis - Research Paper Example Then, the Civil War was fought in order to determine that America was established for the freedom of all regardless of race. The biggest and largest scale engagements that the United States was involved in were World War I and World War II. After the end of these worlds, very few superpowers existed to maintain the world order. Europe had taken the hammer the hardest and suffered the most. The two superpowers that were still standing was the democratic United States and the communist run Soviet Union. Because of the advent of nuclear technology and the development of nuclear warheads, each country was hardening itself trying to take hold of superiority. Many of the small fires which flared up were fought based on the policy of containment that the United States upheld to as well as fighting a war based on proxy. The single most defining event in United States history, in my opinion, was the Cuban Missile Crisis. It was an event in which the whole world was watching waiting for armage ddon to occur. Mutual assured destruction (MAD) seemed inevitable. The historical setting was that Cuba was and still is a communist controlled country. The United States had tried to intervene by supporting a particular communist government in which would be friendly and cooperate with the United States (Batista Dictatorship).

Soldiers Home written by Ernest Hemingway Essay Example | Topics and Well Written Essays - 750 words

Soldiers Home written by Ernest Hemingway - Essay Example Hemingway depicts a conflict revealing how society is demanding conformity from such struggling souls who fail to fit in the mold of that culture. The story takes a unique form as Hemingway sets it out for Harold Krebs who returns from World War I having lost all his possessions. It is his hometown which receives him with an odd expression, the community wondering why he returned so late. This dark picture of the society demanding and expecting Krebs to return to normal life reflects the cruelty and uncompassionate attitude towards the soldier. People expect him to glorify the experience of war, something that he did not even come close enough to experience. His familiarity with the war was as gruesome as for the other soldiers but, unfortunately, the community had already heard so many such stories that they refused to listen to his part. On his return home, Krebs already feared the stagnant life of his small hometown in America. Apparently, his father drove the same car but the onl y difference he could see was in the grown up and modern girls. Caught between the wishes of his pious mother and materialistic father, he induced self paralysis in him, an act he could not avoid because he could not adjust himself with the people around him. He wished for a simple life. But he has even gone in doubt about his relationship with God. When his mother asks him to look for a job for himself and says â€Å"There can be no idle hands in His Kingdom†, Krebs replies, â€Å"I’m not in His Kingdom† (Hemingway 351). According to Hemingway, Krebs is now just an observer and not the participant of his life. He does not feel the need to conform to the rules of the town such as courting a girl and settling down. He has no feelings for women. This depicts the negative connotations Hemingway hints at in the style of the story in which it is written. Surprisingly, Hemingway does not state whether it is good for Krebs or bad that he remains indifferent to the soci ety’s needs but ultimately gives in. Its demand for him not to change but remain who he was is very pressurizing for any human being leave alone an affected soldier who wishes to narrate his war experience to the people. When he does not get the right kind of attention he deserves, he is compelled to read books about war in which he had participated. He tries to comprehend his own experience by reading about the war. He has lost his natural experience which he did encounter during the wartimes as Hemingway states, â€Å"The times so long back when he had done the one thing, the only thing for a man to do, easily and naturally, when he might have done something else, now lost their cool, valuable quality and then were lost themselves† (Hemingway 348). When all is lost in a soldier’s life, there is nothing to give back but one’s own significant self. Krebs’ life is not destructive but people’s behavior has made it look like he will have to sec lude himself from the society if he resists the change they demand from him. His mother’s prayers for him and love for him signify a mother’s natural instinct; she is helpless in the hands of her husband and the people that surround them. She has become a typical woman of the era who would ask her son to do what the other boys his age are doing. He realizes

Ethical Issues of Clinical Ethics in the Developing World

Ethical Issues of Clinical Ethics in the Developing World Ethical Issues of Clinical Ethics And Research Ethics In The Developing World And Pakistan: Is There Any Solution? Zoheb Rafique Abstract: Health research plays an important role in addressing the inequities in human development and health, but in order to achieve these objectives, research should be based on ethical principles and sound scientific knowledge. Although it is accepted fact that bioethics play a pivotal role in health related research in the developing countries, much of recent debate has focused on the controversies surrounding internationally sponsored research and it has taken place largely without the adequate participation of developing countries. The relationship between the ethical guidelines and regulations, and also indigenously/locally sponsored and public health research is not adequately explored and so needs further exploration. Discussion Globally, there are wide inequalities in the economic development, in health outcomes, in burden of diseases and it is certain that the accelerating course towards globalization, without requisite safeguards and the protection of human rights, will only worsen the health inequalities. The funding of research in the developing countries has been the subject and debate of much attention recently. The forum for global health research has indicated that less than 10 % of the world’s research resources are earmarked for 90 % of the health problems. Recently, there was considerable debate regarding ethical conduct and the reviewing of health related research, but this debate has mostly taken place among the bioethicists and researchers in the industrialized countries. The view points of public health researchers and practitioners from the developing countries have been underrepresented. Research needs to respond to the community needs and also national priorities, and development of a national research agenda in the developing countries must be firmly grounded in the process of priority setting. However a more difficult challenge is to involve communities themselves in the research questions and to link their research to their development. Pakistan, being a poor country, has very limited health care resources. Treatment options for individual patients and between patients for free and subsidized treatments are common ethical dilemmas. Thus, prioritizing illnesses and people is an enormous ethical challenge and a very common part of every day medical practice in Pakistan. A review of published discourse on ethics in Pakistan reveals several general trends. These include a focus on ‘medicine’ as defined by formal western medical practice, delivered by physicians only. There is no pursuit of ethics as a focus of the work of other health professionals. The physician-authors of papers, the types of journals where papers have been published, and the phy sician dominant mode of health care, especially curative health care, in Pakistan make this understandable. Research ethics have not been captured in the published papers in Pakistan. This is an area of great importance that has escaped notice of the national thinkers and policy-makers. The conduct of appropriate and ethical research in international settings has been the focus of recent international reports. Ethical review committees, institutional review boards, and other national mechanisms to protect human subjects need to be discussed and put into place in Pakistan, as may be the case in other developing countries. Additional work is required to explore this important area within the context of the developing world. (1). The vital links between clinical and research ethics and human rights are perhaps of even greater significance in developing countries, where human rights are frequently ignored and violated. Conducting research in hierarchical, traditional countries such as P akistan adds yet another dimension to the difficulties in assuring that it is done in an ethical manner; an â€Å"indigenous† layer of cultural norms makes it even more of an uphill task, but it is a task that we are morally bound to shoulder. The historical and social construct of the Pakistan culture, the socioeconomic realities (with similarities to other countries in this region) and some of the deeply rooted values and customs pose challenges that are specific to this part of the world. We who live here know them, and only we can address them. Perhaps the most important factor that places human subjects at risk in this part of the world is the magnification of â€Å"power differentials† inherent in hierarchical societies such as Pakistan. This difference is particularly pronounced in the interactions between physicians and scientists and those they take care of or enroll in research projects. In Pakistan, scientists and physicians constitute the â€Å"elite† section of society. They are by and large the â€Å"English-Speaking†, affluent, highly educated minority in a society where the majority of those they deal with in their professional lives are â€Å"Urdu-Speaking†, poor, generally illiterate or misinformed and disadvantaged in many other ways. (2). Local researchers trained within the country have no concept of research ethics. There is a growing awareness that research cannot progress without better research ethics systems in developing countries. At the close of the last century several of the international agencies involved in funding health research, including WHO, tried to seriously examine the role of health research as an important contributor to sustainable human development. They also attempted to assess how governance of research at national, regional and global levels be made more effective and efficient. Ethical practice in health care and research is not only needed to ensure equity in health care and r esearch, but also to project individuals and communities from unnecessary risks and harm. (3).We can make clinical research more ethical in Pakistan by following all the International guidelines regarding clinical research ethics. Health research can play a crucial role in improving national and global health by developing and evaluating interventions and by exploring strategies that can empower individuals to alter unhealthy behaviors. However, health research involves human subjects and such individuals might be harmed by their participation in research. Accordingly, a strong system of ethical review is needed to enhance the protections of the rights and welfare of human subjects. Also, to enhance the public trust in research activities, investigators need to subscribe to a strict code of ethics that equals the highest standard of respect for human rights. This framework thus places ethics at the very core of a country’s programs for health and development. (4). There are f ive key ethical principles of ethical research that appear across the ethical codes of research institutions and associations. These are a) informed and voluntary consent; b) confidentiality of information shared; c) anonymity of research participants; d) beneficence or no harm to participants; and e) reciprocity. Researchers are expected to obtain informed consent from all those who are directly involved in research or in the vicinity of research. This principle adheres to a larger issue of respect to the participants so that they are not coerced into participation and have access to relevant information prior to the consent. Usually consent is obtained through written consent forms, and necessary elements of consent are identified by the review committees. These usually include prior information on key elements of research such as purpose, procedures, time period, risks, benefits, and a clause stipulating that participation is voluntary and the participants have the right to withd raw from the study. The principles of confidentiality of information shared and Anonymity of Research participants is also concerned with offering respect and protection to research participants through assurance of confidentiality of information shared and anonymity by not revealing the identity of the individuals and institutions involved. Typically anonymity is provided through the use of pseudonyms. The principles of Nonmaleficence, Beneficence and Reciprocity bounds the researchers to provide the participants with an outline of the risks and benefits involved to the participants in the study. The principle of reciprocity requires that the researchers consider actively ways through which participants could be compensated for their time and effort. Typically information about risks and benefits are expected to be provided in summary in the consent form and/or in a brief write up attached with the consent form. These principles and procedures of an ethical engagement with a resear ch study are laid out with the best of intentions to protect participants from malpractices and breach of ethics. However, the approach is taken from a mainly clinical medical research perspective with a concomitant view of epistemology and ontology. Hence, it is assumed that there is a well stated hypothesis which is to be tested, the relationship between the researcher and researched is clearly divided and bounded, and it is possible to outline the potential risks and benefits in some detail prior to the study. (5).The two salient concerns of public-health ethics in our Pakistan case are social justice as a background motivation and accountability as the primary operational objective. The formation of Pakistan’s NBC resulted from PMRC’s active involvement in documenting the under-distribution of global health research benefits to populations in LMICs (low and middle income countries). While this disparity might be seen as a failure of social justice on a global scale , redressing the 10/90 gap is in part a matter of domestic social justice, i-e, of how the benefits and burdens of social cooperation are distributed within each Sovereign State. Closing the gap would require governments of LMICs, such as Pakistan, to participate in dramatically increasing the amount of health research undertaken for the benefit of their own populations. Ensuring accountability for the conduct of this research with human subjects requires that protocols undergo independent ethical review. (6). A systems perspective will enable research stakeholders to improve their understanding and implementation of a national health research system (HRS) in order to improve health outcomes and health equity. Knowledge produced by health research, if disseminated widely, is a global public good. Knowledge contributes to the policies, activities, and performance of health systems, and to the improvement of individual’s and population’s health. The process of conducting research ethics and utilizing knowledge is a highly complex one. One glaring symptom of the current weakness of HRS across countries is that the research process and the policy process tend to exist in different worlds, with the result that research often has a limited impact on policy. Researchers and decision-makers tend to interact only around the â€Å"products† of their processes-for example, the results of a study for the researchers and a set of priorities for the decision-maker. Clearly, more attention needs to be given to establishing and maintaining ongoing links between the two words and, as noted previously, taking stock of the non-linearity of the research-policy-practice processes. (7). Bleak and confusing as the field may be, the last few years have been a watershed in international bioethics and the heightened debate has pushed ethical issues surrounding health research in developing countries into the limelight. The challenge is to develop sound plan for exp anding this ethics debate to larger issues of the global justice and equity, and to make the process as participatory and democratic as possible. The main goal in all these activities should be reduction of the global inequalities in health. Most of public health related problems in South Asia and their immediate causes are related to distal factors such as illiteracy, poverty, societal and gender inequities. The underlying issues must be understood to develop meaningful and sustainable solutions. (8).This will take time, but this is the only way to bring about true change in ethics of international health research. References Adnan A. Hyder and Sarah Nadeem. Health Ethics in Pakistan: A Literature Review of Its Present State. J Health Popul Nutr. 2001, 19(1): 6-11. Farhat Moazam. Research and developing countries: hopes and hypes. East Mediterranean Health Journal. 2006, Vol. 12 (Supplement no. 1): 30-36. Mohammad Afzal. Health research in the World Health Organization Regional Office for the Eastern Mediterranean. East Mediterranean Health Journal. Vol. 14: 67-73. Mohammad Abdur Rab Et Al. Ethical Practices for Health Research in the Eastern Mediterranean Region of the World Health Organization: A Retrospective Data Analysis. Plos one. 2008, Vol. 3(5); e2094. Anjum Halai. Ethics in Qualitative Research: Issue and Challenges. Edqual Working Paper. 2006, Quality no. 5: 1-13. Adnan A. Hyder Et Al. Integrating ethics, health policy and health systems in low-and middle–income countries: case studies from Malaysia and Pakistan. Bulletin of the World Health Organization. 2008, 86(8): 606-611. Tikki Pang Et Al. Knowledge for better health-a conceptual framework and foundation for health research systems. Bulletin of the World Health Organization. 2003, 81(11): 815-820. Zulfiqar Ahmed Bhutta. Globalization, Structural Adjustments and Public Health in South Asia: What does it mean for International Networking in Health Research and Researcher Training? 2001, 1-23.

Analysis of I dont kiss strangers :: essays research papers

The analysis of I Don’t Kiss Strangers In the short story, I Don’t Kiss Strangers there is a man versus man conflict regarding a couple who may never see each other again. In the beginning of the story there is little indication of foreshadowing of what will happen in the end. Therefore the reader is completely unaware of the outcome of the story. Written in the first person, the story takes place at a loud party with many intoxicated adults. A boyfriend has been drafted into the army and the love struck couple faces the chance of him not coming back.   Ã‚  Ã‚  Ã‚  Ã‚  The author of the story, Shirley Jackson sets the mood with a sense of disbelief and shock as the story progresses and gets more in depth. The story gives clues of foreshadowing when someone tells him he cannot just go up to a girl and blatantly say â€Å"come on outside into the air, we gotta say goodbye somehow.† That statement kind of gives the reader clues that he wants to go somewhere else and spend his last night with her. Throughout the story, the protagonist tries to persuade his girlfriend to go to a different place other than a party to say Good-bye. However, she acts stubbornly and refuses to leave the party in fear that the liquor would be too far away. Using the liquor as a comfort zone so she does not have to face reality. In my opinion, she is trying to make it easier on her self by trying to avoid the fact that he is leaving and all she will have is memories. She talks about how long of a time it will be by saying that she want even know how the next guy will sound to her or that the next time she runs out of cigarettes she want have him to go get them. In my opinion, she says he will be different because over the year both of them will mature and the war will change him. The antagonist feels sorry for her self and goes on to say that if he does come back that neither he nor she will ever be the same again.   Ã‚  Ã‚  Ã‚  Ã‚  The climax occurs when the couple is located in the bathroom discussing their dilemma. This is where the hints of foreshadowing in the beginning of the story start to really stand out. She really puts things blatant about not wanting to go somewhere else to talk.