Mother Tongue

Rhetorical Analysis of â€Å"Mother Tongue† written by Amy Tan â€Å"So easy to read†(p. 4). Amy Tan ends her essay, â€Å"Mother Tongue† with this short and even grammatically wrong sentence. She tells us this mother’s brief review is a proof of success of her writing. Why does she think that easiness is an essence of her writing? She suggests answers to this question by her essay. In her essay, Amy Tan effectively convinces her readers that â€Å"broken English† is not an inferior language, but just a different style of English that has values in it by depicting her personal experiences and strong appeal to pathos.She makes her readers to have sympathetic emotions for her mother and hostile emotion for people who was rude to her by presenting vividly depicted personal anecdote. Also, she does not end her essay with her personal stories but broadens the topic to a social level. Amy Tan is a well known Chinese American writer who is famous for her m ajor work, The Joy luck club. She usually writes about the mother and daughter relationship. The essay â€Å"Mother Tongue† was originally published in The Threepenny Review in 1990 and also included in The Best American Short Stories 1991, edited by Joyce Carol Oates.In this essay, Tan is likely to reach out to immigrant families that went through similar hardships on communication that she and her mother experienced. In the beginning if her essay, Tan realizes that she uses different kind of English according to the situation. Then, she suggests reasons of the change in her own speaking. She presents personal anecdotes relative to her mother. She shows the way her mother speaks English imperfectly and how her mother was treated rudely by various people because of her language.In tan’s childhood, she thought her mother’s imperfect English is shameful. She thought her mother’s ability to think is also limited, as she uses imperfect English. Her motherâ₠¬â„¢s distinctive English influenced Tan’s English skills. She could get good grades on math and science, while she struggled with English achievement tests. In spite of the influence of her mother’s English and discouraging comments about her writing from others, she rebelled against them and became a successful writer.Now, she thinks all languages she uses including her mother’s tongue should be used in her writing. She decided to â€Å"[seek] to preserve the essence†, her mother’s â€Å"intent, her passion, her imagery, the rhythms of her speech and the nature of her thoughts† in her essay. (p. 3-4) The most powerful rhetorical strategy of her essay is personal anecdote. Her personal anecdotes not only support her argument but also appeal to pathos. Her essay can be seen as a just collection of anecdotes, but she definitely has an argument in her essay.By presenting personal anecdotes of Tan and her mother, she maintains that people who u se â€Å"broken English† are often treated disrespectfully even though their thought are not limited. Also, she lets her readers to compare her stories to their own and make them to think thoroughly about their own languages. Her mother’s utterances are not just from the Tan’s memory, but videotaped and then transcribed by Tan. Also, Tan does not simply explain the way her mother talks, but presents her utterance line by line showing distinctive features like lack of grammaticality of her language.This procedure makes her anecdotes more authentic and vivid that makes readers feel like they are actually listening to the utterances. She also repeatedly compares her mother’s utterance with her revised standard English version. In the story that happened to her and her mother in the bank, first she presents her mother’s utterance â€Å"Why he don’t send me check, already two weeks late. †, and then she presents her utterance â€Å"You ha d agreed to send me the check two weeks ago, but it hasn’t arrived. †(P. 2) that is said in perfect English.This comparison shows the clear differences between English and its variation, and makes readers to easily figure out what her mother’s language actually is. Although her mother’s tongue is imperfect, Tan says that her mother’s thought is not inferior at all. She rather tells that â€Å"my mother's English is perfectly clear, perfectly natural. It's my mother tongue. Her language, as I hear it, is vivid, direct, full of observation and imagery. That was the language that helped shape the way I saw things, expressed things, made sense of the world† (P. 1).This part clearly shows Tan’s affection to her mother and mother’s language. Tan’s admiration to her mother helps readers to understand Tan’s mother and to be more attached to her. After she shows the way that her mother talks, she tells us two stories about her mother that she received unfair treatment in bank and hospital because of her language. Especially, anecdote regarding the CAT scan effectively appeals to pathos by arousing reader’s sympathy for her mother. Her mother went to hospital to hear a result of her brain CAT scan, but the hospital lost her CAT scan.However, they did not apologize to her mother, and they wanted her have another appointment to get a diagnosis. Surprisingly, after Tan’s phone conversation with the doctor, they could get a sincere apologize and promise of the original CAT scan. This personal experience clearly shows that there is discrimination toward the people who cannot speak English fluently. Tan evoke hostility in the reader toward people shows disrespectful behaviors to people who use variation of English. She does not end her essay by listing her personal experiences.She raises her topic to a social level to make people discuss the following issue. She says that she has been asked, â €Å"why there are not more Asian Americans represented in American literature† (P. 3). While she tries to answer this question, she broadens the subject of the essay from her and her mother to Asian American society. She maintains that Asian American students could be steered away from writing by the teachers who assume that they are good at math and science, not English writing.Once more, she comes back to her personal experience the she overcame the social stereotype of Asian American, and succeeded to be a writer. Also, she suggests her firm decision she made before that she is going to use â€Å"all the Englishes that she grew up with†, including her mother’s English regarded as limited and broken (P. 3). She maintains that all languages have their own values and mingled language is the essence of her writing. By helping her readers to relate themselves with her hardships and also her success as a writer, she inspires them to challenge the negative assumptio n on them.Tan repeatedly claims that her mother tongue is not an inferior language, but it has its own value like standard English. She maintains that regarding variation of English as an inferior one should be rejected and revised. She also encourages her aimed readers to challenge the stereotype on them. She delivers her message by telling us detailed and lively portrayed anecdotes. Tan successfully makes her readers emotionally attached to her personal stories and makes them to find values in the variation of English. Mother Tongue Rhetorical Analysis of â€Å"Mother Tongue† written by Amy Tan â€Å"So easy to read†(p. 4). Amy Tan ends her essay, â€Å"Mother Tongue† with this short and even grammatically wrong sentence. She tells us this mother’s brief review is a proof of success of her writing. Why does she think that easiness is an essence of her writing? She suggests answers to this question by her essay. In her essay, Amy Tan effectively convinces her readers that â€Å"broken English† is not an inferior language, but just a different style of English that has values in it by depicting her personal experiences and strong appeal to pathos.She makes her readers to have sympathetic emotions for her mother and hostile emotion for people who was rude to her by presenting vividly depicted personal anecdote. Also, she does not end her essay with her personal stories but broadens the topic to a social level. Amy Tan is a well known Chinese American writer who is famous for her m ajor work, The Joy luck club. She usually writes about the mother and daughter relationship. The essay â€Å"Mother Tongue† was originally published in The Threepenny Review in 1990 and also included in The Best American Short Stories 1991, edited by Joyce Carol Oates.In this essay, Tan is likely to reach out to immigrant families that went through similar hardships on communication that she and her mother experienced. In the beginning if her essay, Tan realizes that she uses different kind of English according to the situation. Then, she suggests reasons of the change in her own speaking. She presents personal anecdotes relative to her mother. She shows the way her mother speaks English imperfectly and how her mother was treated rudely by various people because of her language.In tan’s childhood, she thought her mother’s imperfect English is shameful. She thought her mother’s ability to think is also limited, as she uses imperfect English. Her motherâ₠¬â„¢s distinctive English influenced Tan’s English skills. She could get good grades on math and science, while she struggled with English achievement tests. In spite of the influence of her mother’s English and discouraging comments about her writing from others, she rebelled against them and became a successful writer.Now, she thinks all languages she uses including her mother’s tongue should be used in her writing. She decided to â€Å"[seek] to preserve the essence†, her mother’s â€Å"intent, her passion, her imagery, the rhythms of her speech and the nature of her thoughts† in her essay. (p. 3-4) The most powerful rhetorical strategy of her essay is personal anecdote. Her personal anecdotes not only support her argument but also appeal to pathos. Her essay can be seen as a just collection of anecdotes, but she definitely has an argument in her essay.By presenting personal anecdotes of Tan and her mother, she maintains that people who u se â€Å"broken English† are often treated disrespectfully even though their thought are not limited. Also, she lets her readers to compare her stories to their own and make them to think thoroughly about their own languages. Her mother’s utterances are not just from the Tan’s memory, but videotaped and then transcribed by Tan. Also, Tan does not simply explain the way her mother talks, but presents her utterance line by line showing distinctive features like lack of grammaticality of her language.This procedure makes her anecdotes more authentic and vivid that makes readers feel like they are actually listening to the utterances. She also repeatedly compares her mother’s utterance with her revised standard English version. In the story that happened to her and her mother in the bank, first she presents her mother’s utterance â€Å"Why he don’t send me check, already two weeks late. †, and then she presents her utterance â€Å"You ha d agreed to send me the check two weeks ago, but it hasn’t arrived. †(P. 2) that is said in perfect English.This comparison shows the clear differences between English and its variation, and makes readers to easily figure out what her mother’s language actually is. Although her mother’s tongue is imperfect, Tan says that her mother’s thought is not inferior at all. She rather tells that â€Å"my mother's English is perfectly clear, perfectly natural. It's my mother tongue. Her language, as I hear it, is vivid, direct, full of observation and imagery. That was the language that helped shape the way I saw things, expressed things, made sense of the world† (P. 1).This part clearly shows Tan’s affection to her mother and mother’s language. Tan’s admiration to her mother helps readers to understand Tan’s mother and to be more attached to her. After she shows the way that her mother talks, she tells us two stories about her mother that she received unfair treatment in bank and hospital because of her language. Especially, anecdote regarding the CAT scan effectively appeals to pathos by arousing reader’s sympathy for her mother. Her mother went to hospital to hear a result of her brain CAT scan, but the hospital lost her CAT scan.However, they did not apologize to her mother, and they wanted her have another appointment to get a diagnosis. Surprisingly, after Tan’s phone conversation with the doctor, they could get a sincere apologize and promise of the original CAT scan. This personal experience clearly shows that there is discrimination toward the people who cannot speak English fluently. Tan evoke hostility in the reader toward people shows disrespectful behaviors to people who use variation of English. She does not end her essay by listing her personal experiences.She raises her topic to a social level to make people discuss the following issue. She says that she has been asked, â €Å"why there are not more Asian Americans represented in American literature† (P. 3). While she tries to answer this question, she broadens the subject of the essay from her and her mother to Asian American society. She maintains that Asian American students could be steered away from writing by the teachers who assume that they are good at math and science, not English writing.Once more, she comes back to her personal experience the she overcame the social stereotype of Asian American, and succeeded to be a writer. Also, she suggests her firm decision she made before that she is going to use â€Å"all the Englishes that she grew up with†, including her mother’s English regarded as limited and broken (P. 3). She maintains that all languages have their own values and mingled language is the essence of her writing. By helping her readers to relate themselves with her hardships and also her success as a writer, she inspires them to challenge the negative assumptio n on them.Tan repeatedly claims that her mother tongue is not an inferior language, but it has its own value like standard English. She maintains that regarding variation of English as an inferior one should be rejected and revised. She also encourages her aimed readers to challenge the stereotype on them. She delivers her message by telling us detailed and lively portrayed anecdotes. Tan successfully makes her readers emotionally attached to her personal stories and makes them to find values in the variation of English. Mother Tongue Rhetorical Analysis of â€Å"Mother Tongue† written by Amy Tan â€Å"So easy to read†(p. 4). Amy Tan ends her essay, â€Å"Mother Tongue† with this short and even grammatically wrong sentence. She tells us this mother’s brief review is a proof of success of her writing. Why does she think that easiness is an essence of her writing? She suggests answers to this question by her essay. In her essay, Amy Tan effectively convinces her readers that â€Å"broken English† is not an inferior language, but just a different style of English that has values in it by depicting her personal experiences and strong appeal to pathos.She makes her readers to have sympathetic emotions for her mother and hostile emotion for people who was rude to her by presenting vividly depicted personal anecdote. Also, she does not end her essay with her personal stories but broadens the topic to a social level. Amy Tan is a well known Chinese American writer who is famous for her m ajor work, The Joy luck club. She usually writes about the mother and daughter relationship. The essay â€Å"Mother Tongue† was originally published in The Threepenny Review in 1990 and also included in The Best American Short Stories 1991, edited by Joyce Carol Oates.In this essay, Tan is likely to reach out to immigrant families that went through similar hardships on communication that she and her mother experienced. In the beginning if her essay, Tan realizes that she uses different kind of English according to the situation. Then, she suggests reasons of the change in her own speaking. She presents personal anecdotes relative to her mother. She shows the way her mother speaks English imperfectly and how her mother was treated rudely by various people because of her language.In tan’s childhood, she thought her mother’s imperfect English is shameful. She thought her mother’s ability to think is also limited, as she uses imperfect English. Her motherâ₠¬â„¢s distinctive English influenced Tan’s English skills. She could get good grades on math and science, while she struggled with English achievement tests. In spite of the influence of her mother’s English and discouraging comments about her writing from others, she rebelled against them and became a successful writer.Now, she thinks all languages she uses including her mother’s tongue should be used in her writing. She decided to â€Å"[seek] to preserve the essence†, her mother’s â€Å"intent, her passion, her imagery, the rhythms of her speech and the nature of her thoughts† in her essay. (p. 3-4) The most powerful rhetorical strategy of her essay is personal anecdote. Her personal anecdotes not only support her argument but also appeal to pathos. Her essay can be seen as a just collection of anecdotes, but she definitely has an argument in her essay.By presenting personal anecdotes of Tan and her mother, she maintains that people who u se â€Å"broken English† are often treated disrespectfully even though their thought are not limited. Also, she lets her readers to compare her stories to their own and make them to think thoroughly about their own languages. Her mother’s utterances are not just from the Tan’s memory, but videotaped and then transcribed by Tan. Also, Tan does not simply explain the way her mother talks, but presents her utterance line by line showing distinctive features like lack of grammaticality of her language.This procedure makes her anecdotes more authentic and vivid that makes readers feel like they are actually listening to the utterances. She also repeatedly compares her mother’s utterance with her revised standard English version. In the story that happened to her and her mother in the bank, first she presents her mother’s utterance â€Å"Why he don’t send me check, already two weeks late. †, and then she presents her utterance â€Å"You ha d agreed to send me the check two weeks ago, but it hasn’t arrived. †(P. 2) that is said in perfect English.This comparison shows the clear differences between English and its variation, and makes readers to easily figure out what her mother’s language actually is. Although her mother’s tongue is imperfect, Tan says that her mother’s thought is not inferior at all. She rather tells that â€Å"my mother's English is perfectly clear, perfectly natural. It's my mother tongue. Her language, as I hear it, is vivid, direct, full of observation and imagery. That was the language that helped shape the way I saw things, expressed things, made sense of the world† (P. 1).This part clearly shows Tan’s affection to her mother and mother’s language. Tan’s admiration to her mother helps readers to understand Tan’s mother and to be more attached to her. After she shows the way that her mother talks, she tells us two stories about her mother that she received unfair treatment in bank and hospital because of her language. Especially, anecdote regarding the CAT scan effectively appeals to pathos by arousing reader’s sympathy for her mother. Her mother went to hospital to hear a result of her brain CAT scan, but the hospital lost her CAT scan.However, they did not apologize to her mother, and they wanted her have another appointment to get a diagnosis. Surprisingly, after Tan’s phone conversation with the doctor, they could get a sincere apologize and promise of the original CAT scan. This personal experience clearly shows that there is discrimination toward the people who cannot speak English fluently. Tan evoke hostility in the reader toward people shows disrespectful behaviors to people who use variation of English. She does not end her essay by listing her personal experiences.She raises her topic to a social level to make people discuss the following issue. She says that she has been asked, â €Å"why there are not more Asian Americans represented in American literature† (P. 3). While she tries to answer this question, she broadens the subject of the essay from her and her mother to Asian American society. She maintains that Asian American students could be steered away from writing by the teachers who assume that they are good at math and science, not English writing.Once more, she comes back to her personal experience the she overcame the social stereotype of Asian American, and succeeded to be a writer. Also, she suggests her firm decision she made before that she is going to use â€Å"all the Englishes that she grew up with†, including her mother’s English regarded as limited and broken (P. 3). She maintains that all languages have their own values and mingled language is the essence of her writing. By helping her readers to relate themselves with her hardships and also her success as a writer, she inspires them to challenge the negative assumptio n on them.Tan repeatedly claims that her mother tongue is not an inferior language, but it has its own value like standard English. She maintains that regarding variation of English as an inferior one should be rejected and revised. She also encourages her aimed readers to challenge the stereotype on them. She delivers her message by telling us detailed and lively portrayed anecdotes. Tan successfully makes her readers emotionally attached to her personal stories and makes them to find values in the variation of English.

Fraud Case

THE NATION’S NEWSPAPER BS2003-01b Collegiate Case Study Adelphia founder, 2 sons, 2 others arrested in fraud By David Lieberman and Greg Farrell www. usatodaycollege. com Accounting fraud Part II: The results â€Å"Creative accounting† is not a new technique, but it can certainly be a costly one. Businesses feel the pressure to appear profitable in order to attract investors and resources, but deceptive or fraudulent accounting practices often lead to drastic consequences. Are these so-called creative practices always illegal or can they ever be justified? This case study will present examples of companies who have used inappropriate accounting practices, the results of their deceptions and the government's plan to avoid future incidents. WorldCom scandal brings subpoenas, condmnation By Andrew Backover and Thor Vladmanis Andersen’s partners chart firm’s future today By Greg Farrell Client-starved Arthur Andersen cuts 7,000 jobs By Greg Farrell Dominoes hit WorldCom partners, clients By Michelle Kessler Adelphia plans to file Chapter 11 Cable firm expected to seek bankruptcy protection today NEW YORK — The waiting should be over today. Adelphia Communications plans to file for bankruptcy protection, nearly three months after the onceproud No. 6 cable operator first disclosed dealings with the family of founder John Rigas that turned it into a symbol of corporate scandal. The company is expected to announce that it has raised as much as $1. 5 billion from banks led by J. P. Morgan Chase and Citigroup to keep operating while a bankruptcy judge decides how creditors will be paid. A Chapter 11 filing — the biggest in cable history — could help efforts to find a buyer for some, or all, of Adelphia's systems, which serve 5. 7 million subscribers. The court can protect an acquirer from unexpected liabilities, including those stemming from several shareholder lawsuits and investigations into Adelphia's finances by two grand juries and the Securities and Exchange Commission. The company could pay off its estimated $19 billion in debt if it can sell systems for $3,500 per subscriber, roughly the industr y norm. But stockholders could lose their entire investments. Adelphia shares closed Friday at 15 cents in over-the-counter trading. Case Study Expert: John D. Martin, Ph. D. Professor of Finance, Baylor University USA TODAY Snapshots ® Politicians role in monitoring business Opinion leaders1 say government should be more involved in oversight and regulation of private enterprise2: 52% 45% Agree Disagree Source: Edelman Public Relations Worldwide/ StrategyOne Research survey of 400 respondents. 1 – College educated 35- to 64-year-olds with household incomes of more than $100,000 2 – Does not add up to 100% due to rounding By Darryl Haralson Marcy E. E. Mullins, USA TODAY By Darryl Haralson andand Marcy Mullins, USA TODAY Reprinted with permission. All rights reser ved. AS SEEN IN USA TODAY MONEY SECTION, MONDAY, JUNE 24, 2002 And a sale may devastate Coudersport, Pa. , where Adelphia is headquartered. It's by far the largest employer in the rural, mountain town of 3,000. Meanwhile, Adelphia will tr y to reassure its subscribers. â€Å"Adelphia is committed to reversing its admittedly difficult present financial situation,† it wrote last week to 3,500 franchise officials. â€Å"Most importantly, there should be no change in service to Adelphia customers as a result of these developments. † Adelphia's downfall began on March 27, when it disclosed that a Rigas family partnership had borrowed $2. billion using company assets as collateral. The amount has since been raised to $3. 1 billion. That stunned analysts, who believed that the operator was already too deeply in debt. Barraged with questions, Adelphia put off release of its 2001 annual report. More questions were raised when it was confirmed that the SEC was investigating. As the stock plummeted, Nasdaq weighed delisting Adelphia shares. T hat took effect on June 3. After acknowledging that it would have to restate its earnings, Adelphia put several cable systems on the block. The company defaulted on bank loans and failed to make interest payments on bonds. And Rigas and sons Timothy, Michael and James were forced to relinquish their jobs and board seats. Then new interim CEO Erland Kailbourne stunned company watchers by disclosing a series of cases where the Rigas family allegedly used Adelphia for private gain. Among other things, the company paid for their apartments in New York, built a golf course on Rigas-owned land, helped the purchase of the Buffalo Sabres hockey team, created a Rigas-run investment firm and subsidized a documentary film. Cover story Adelphia founder, 2 sons, 2 others arrested in fraud Investigators say company was ‘personal piggy bank' By David Lieberman and Greg Farrell USA TODAY NEW YORK — For 50 years, John Rigas lived the American Dream. Half a century ago, the son of Greek immigrants left a job making TV picture tubes at Sylvania. The World War II veteran bought a small movie house and a newfangled business — a cable TV company — in the remote town of Coudersport, Pa. , and was on his way to making a fortune. But his oversized ambitions led him this week into an American Nightmare. Wednesday, Manhattan U. S. Attorney James Comey accused 77-year-old Rigas and two sons — Timothy and Michael — with â€Å"one of the largest and most egregious frauds ever perpetrated on investors and creditors. † Rigas attorneys were unavailable for comment. With TV cameras capturing the humiliating moment, the founder of Adelphia Communications, the No. 6 U. S. cable company, was led away in handcuffs here. He became the first CEO arrested in the latest wave of corporate accounting scandals and the most vivid symbol of whitecollar crime since Michael Milken and Ivan Boesky in the 1980s. Two other former Adelphia executives, James Brown and Michael Mulcahey, were picked up in Coudersport. Later in the day, Adelphia itself — which filed for bankruptcy-court protection last month — charged Rigas and his family with violating the Racketeer Influenced and Corrupt Organizations (RICO) Act, in a filing in Federal Reprinted with permission. All rights reser ved. Page 2 AS SEEN IN USA TODAY MONEY SECTION, THURSDAY, JULY 25, 2002 Bankruptcy Court in New York. The Rigases could be forced to pay three times any damages the court finds. The lawsuit alleges about $1 billion in damages. Behind their â€Å"small-town facade,† the Adelphia lawsuit says, the Rigases â€Å"used their domination and control of Adelphia, and their isolation from the scrutiny of the outside world, to engage in one of the largest schemes of selfdealing and financial wrongdoing in American corporate history. † The Justice Department and the U. S. Postal Inspection Service charged the five executives with securities, wire and bank fraud, saying they â€Å"looted Adelphia on a massive scale† and used it as a â€Å"personal piggy bank. Rigas private funds sloshed with Adelphia's in the same cashmanagement system. A U. S. judge set bail for the Rigases at $10 million apiece, secured by cash and property. Allegations against the Rigases range from big schemes to hide financial problems at the cable company to relatively small-scale thievery. For example, Timothy was accused of using a company jet for an African safari vacation in 2000. Adelphia's lawsuit adds that John's daughter, Ellen, used company planes to bring guests to her wedding to Peter Venetis, who became an Adelphia board member. The couple's cozy position enabled them to save $150,000 since 1998: They lived rent-free in two Adelphia-owned apartments on Manhattan's swank Upper East Side, the lawsuit says. In less than four years, the Rigases â€Å"stole hundreds of millions of dollars, and through their fraud (and) caused losses to investors of more than $60 billion,† Deputy Attorney General Larry Thompson says. The defendants could face jail time in the criminal case. By filing a complaint instead of a full-fledged indictment, the grand juries weighing evidence in the case can remain empaneled to approve charges against others. They have 10 days to indict those arrested, and 20 days to charge others. Also Wednesday, the Securities and Exchange Commission filed a civil lawsuit in U. S. District Court that's similar to the criminal complaint, and includes a third Rigas son, James. The SEC would bar the defendants from serving any publicly owned company. It also wants them and Adelphia to pay restitution and fines. Adelphia said in a statement that the claim against it would â€Å"only have the effect of further penalizing the company's stakeholders who were the victims of the Rigas' improper conduct. The Adelphia cases are low-hanging fruit for prosecutors eager to show that they're getting tough on white-collar criminals. â€Å"This is an old fashioned hand-in-the-till case that's easier to prosecute than an esoteric fraud like Enron,† says Jack Coffee, who teaches securities law at Columbia University. â€Å"To prosecute Enron, you're going to have to teach the jury an intermediate college course i n accounting. † Jacob Frenkel of Smith Gambrell and Russell agrees. â€Å"This could be sexiest of all the cases,† he says. â€Å"Here, you're talking about corporate looting. Every guilty disposition arising out of this indictment should become a show-andtell in all business schools as the antithesis of public company management and stewardship. † Talking tough, getting tough The arrests came as House and Senate negotiators agreed on tough measures, including jail time, for executives convicted of fraud. And Wall Street was impressed after weeks of growing fearfulness about a possible tsunami of corporate scandals. The Dow Jones industrial average soared 489 points Wednesday. That's the second biggest one-day point gain ever. That contrasts with the 179-point drop on July 9, when President Bush called for a new era of corporate responsibility. The arrests aren't â€Å"about Democrats and Republicans,† says Lynn Turner, former chief accountant of the SEC under President Clinton. â€Å"This is about investors, and they like what they're seeing now. † Even people who aren't obsessed with stocks seem to like the idea of big shots getting a comeuppance. â€Å"We are angry, and we have every right to be angry,† says futurist and consumer expert Marian Salzman of Euro RSCG Worldwide. There's a feeling that we need to kick out the evil-doers in the industry. † But some might recoil at the image of a dignified old man being led before the cameras in handcuffs. â€Å"They're actually going to look sympathetic,† says Robin Cohn, author of The PR Crisis Bible. â€Å"Why would you Reprinted with permission. All rights reser ved. Page 3 AS SEEN IN USA TODAY MONEY SECTION, THURSDAY, JU LY 25, 2002 handcuff an old man? He's not a murderer and a rapist. That's not to say they aren't crooks. But I think the public would rather see somebody they know in handcuffs — like (former Enron CEO) Ken Lay. And the incident could make the government look somewhat silly, she says. â€Å"I can't imagine Saturday Night Live not doing anything with this. † Corporate crime is in the spotlight these days. Last month, federal prosecutors arrested former ImClone CEO Sam Waksal on charges of illegal trading on inside information and obstruction of justice. Their investigation has expanded to include friends and family of Waksal, who also might have illegally traded on inside information about ImClone last December. Investigators are trying to determine whether any inside information was passed to Waksal's friend Martha Stewart, who sold her ImClone stock just before a Food and Drug Administration announcement, denying an application to market a cancer-fighting drug, drove the stock price down. In coming months, the Justice Department is expected to charge top executives of Enron and WorldCom with fraud. The department's Enron Task Force won one court battle last month when a Houston jury found auditor Arthur Andersen criminally guilty of obstruction of justice. It appears, though, that officials wanted to start off with a bang as they arrested the Rigases. â€Å"What's unusual here is the level of detail included in the criminal complaint, and the number of defendants arrested simultaneously,† says former prosecutor Robert Mintz, now at McCarter & English. â€Å"Usually, the government builds a case slowly, with eventual defections among defendants. Here, it has leveled a wide range of allegations against upper management. That suggests that the government believes it has strong case and that they expect a rush to the prosecutor's door by defendants who will vie to strike deals. The cases build on information that began to come out in late March. Adelphia disclosed then that the Rigases had used assets of the already debt-heavy company to secure loans to private, family-run partnerships. That borrowing is now put at $3. 1 billion. Independent directors forced the Rigases out of their executive positions and board seats, installing f ormer banker Erland Kailbourne as interim CEO. When they investigated the company's condition, they found and disclosed case after case in which the Rigases made no distinction between their personal funds and businesses and Adelphia's. Bad news gets worse But Adelphia was already in a tailspin. Investors lost confidence. Auditors refused to certify the company's financial reports. And lenders cut it off, leading the company to miss interest and dividend payments. Among the charges leading to the Rigases' arrest: u That the family began using Adelphia as collateral for private loans in 1996, even though the company â€Å"was one of the largest junk bond issuers in the United States. † Investors weren't told. u That the Rigases secretly inflated Adelphia's cable TV subscription numbers to make investors think it was still growing at a healthy pace. In 2000 they began to count subscribers from systems in Brazil and Venezuela, where Adelphia owns a minority stake. In 2001, Adelphia began adding customers who just ordered high-speed Internet services from the Rigases' non-Adelphia systems. And earlier this year, they folded in people who ordered home security services from Adelphia. u That they used accounting legerdemain to disguise Adelphia's actual expenses for digital decoder boxes. In 2001 the company claimed that it sold 525,000 boxes for $101 million to an unaudited Rigas-owned company that has no cable systems. That, starting in 2000, Adelphia spent $13 million to build a golf club on land mostly owned by John Rigas. u That in 1999, they told analysts that Adelphia could provide two-way communications to 50% of its customers. The real number was 35%. u And that the Rigases took more than $252 million from Adelphia to pay for margin calls on their purchases as the company's stock price fell. Contributing: Michael McCarthy R eprinted with permission. All rights reser ved. Page 4 AS SEEN IN USA TODAY NEWS SECTION, FRIDAY, JUNE 28, 2002 WorldCom scandal brings subpoenas, condemnation Accounting rumors rattle Wall Street By Andrew Backover and Thor Valdmanis USA TODAY The accounting scandal that enveloped WorldCom reverberated through Wall Street and Washington on Thursday. u Congress subpoenaed top WorldCom executives. u President Bush and Treasury Secretary Paul O'Neill separately railed at corporate wrongdoers. u Unfounded rumors of accounting problems hit stocks of other companies. WorldCom on Tuesday revealed what could be one of the biggest accounting frauds ever. Company officials said $3. billion in expenses had been hidden in financial statements, inflating profits in 2001 and the first quarter of 2002. The Securities and Exchange Commission has since charged WorldCom with fraud. Bush, at an economic summit in Canada, said he is concerned about the economic impact from â€Å"some corporate leaders who have not upheld their responsibility. † O'Neill, a former chief executive of Alcoa, said in an interv iew on ABC's Good Morning America that the people responsible should be prosecuted to the full extent of the law. WorldCom has raised fears and rumors about more business accounting scandals. Trading was halted for General Motors stock Thursday afternoon because of rumors of accounting irregularities. GM said they were untrue. Broadcast giant Clear Channel Communications denied it is under an SEC investigation, yet its stock fell almost 13%. The House Financial Services Committee set a July 8 hearing into the WorldCom case. Subpoenas went to: u Current WorldCom CEO John Sidgmore. u Former chief financial officer Scott Sullivan, who was fired this week. * Former WorldCom chief executive Bernie Ebbers, who was ousted in April and who owes WorldCom $408 million for personal loans. Salomon Smith Barney telecom analyst Jack Grubman. Once one of WorldCom's most bullish supporters on Wall Street, he has been criticized for possible conflicts of interest. His firm collected millions of dollars in fees as a WorldCom financial adviser. WorldCom spokesman Brad Burns declined comment on whether Sidgmore would invoke his Fifth Amendment right not to testify. Ebbers and Sullivan couldn 't be reached. Salomon says Grubman â€Å"will fully cooperate. † And there could be more investigations. The House Energy and Commerce Committee told WorldCom to turn over financial records by July 11. WorldCom, strained by $30 billion in debt, will cut 17,000 jobs, or 21% of its workers, starting today. Workers will get severance pay, Burns says. Reprinted with permission. All rights reser ved. Page 5 AS SEEN IN USA TODAY MONEY SECTION, THURSDAY, MARCH 28, 2002 Andersen's partners chart firm's future today By Greg Farrell USA TODAY NEW YORK — Arthur Andersen's U. S. partners will huddle in a nationwide teleconference today to determine the firm's immediate future. At issue: who should lead the firm's U. S. operations on an interim basis, and what steps Andersen should take to remain in business. According to senior partners briefed on the meeting's agenda, Andersen's 1,700 U. S. par tners will decide whether to ask Paul Volcker to assume control of Andersen's domestic operations. In February, Andersen CEO Joseph Berardino asked the former Federal Reserve chairman to head an oversight board dedicated to fixing the firm. A month later, a federal grand jur y indicted Andersen on a charge of obstruction of justice for its role in shredding Enron documents last October. Friday, in a last-ditch effort to stanch client depar tures and restore confidence in Andersen, Volcker offered to lead Andersen if its top par tners asked him. On Tuesday, Berardino resigned. Managing partner C. E. Andrews will meet with Volcker today to discuss his takeover plan. While many obser vers think Volcker's arrival could persuade the J ustice Depar tment to drop the indictment, some Andersen partners are wary of being the subject of an idealistic experiment in transforming the accounting industry. The partners will also discuss, and probably adopt, a â€Å"Renaissance† program aimed at returning Andersen to its roots as a highly regarded auditing firm. This proposal, supported by Andrews, has gained support among older partners who want to stay and rebuild the firm. In other developments: u At federal cour t in Houston, Contributing: Thor Valdmanis J ustice Depar tment lawyers will respond to Andersen's motion to halt further grand jury testimony prior to a May 6 trial. If Judge Melinda Harmon sides with Andersen, it will make the government's obstruction of justice case against Andersen more difficult to win. u Andersen's top global partners will meet Tuesday in London to pick an interim CEO. Andersen's global operations continue to fragment. Its Japanese affiliate, Asahi & Co. , announced plans to merge this fall with rival KPMG. Andersen has also discussed selling affiliates to Deloitte Touche Tohmatsu. Wednesday night, Deloitte spokesman Matthew Batters suggested the firm was only interested in hiring individual Andersen partners and picking up clients leaving the firm. Reprinted with permission. All rights reser ved. Page 6 AS SEEN IN USA TODAY MONEY SECTION, TUESDAY, APRIL 9, 2002 Client-starved Arthur Andersen cuts 7,000 jobs Long expected, layoffs offer first tangible sign of firm's distress By Greg Farrell USA TODAY WorldCom has engaged in what could be one of the bArthur Andersen fired one partner in January for his role in shredding Enron documents. On Monday, the auditing firm announced it will lay off 7,000 of its 26,000 U. S. employees because of the consequences of that shredding. The job cuts at Andersen have been expected for weeks, ever since the Justice Department unsealed an indictment against the firm for its role in destroying its paperwork just as a Securities and Exchange Commission inquiry into Enron was about to begin. Since the indictment, unsealed on March 14, scores of clients have deserted Andersen. As Andersen partners leave the firm for opportunities at other Big Five rivals, more clients are expected to migrate. So far, Andersen has weathered the crisis without filing for bankruptcy protection. But the layoffs, announced Monday, are the first tangible sign of financial distress at the firm. Of the 7,000 employees being let go, the vast majority are auditing staffers and managers, as well as administrative personnel. A small number of Andersen's 1,700 U. S. partners are also being let go. According to managing partner Grover Wray, most partners are still needed to serve Andersen's remaining clients. Rather than hand out severance checks to laid-off employees, Wray says Andersen is implementing a program called â€Å"salary continuation. † nder this plan, laid-off workers will continue to be paid for a certain number of weeks, depending on how long they've been with the firm. During that period, these employees will keep their benefits and be free to use their office space to search for new jobs. We are trying to treat our people with a level of dignity,† Wray says. In addition to client defections, Andersen also faces major liabilities for the role it played in Enron's collapse into bankruptcy last fall. Plaintiffs lawyer Bill Lerach filed an expanded complaint Monday against Andersen and former Enron managers in federal court in Houston. But the expanded lawsuit, on behalf of a major Enron shareholder — the Unive rsity of California system — adds nine Wall Street investment banks and two law firms to the list of defendants. Representatives from the banks — JP Morgan Chase, Citigroup, CS First Boston, Canadian Imperial Bank of Commerce, Bank of America, Merrill Lynch, Deutsche Bank, Barclays and Lehman Bros. — either declined comment on Monday or denied the complaint's allegations of complicity in Enron's collapse. Notably, Lerach's complaint leaves out two key players in Enron's demise — Michael Kopper, who headed some of the special purpose entities that kept Enron liabilities off the company's balance sheet, and Ben Glisan, the former Enron treasurer accused of facilitating some of Enron's dubious accounting practices. Glisan is now believed to be cooperating with the Justice Department probe of Enron's activities. Lerach would not comment on whether the pair supplied his investigators with information. But Larry Finder, a former U. S. Attorney now in private practice in Houston, doubts either is helping Lerach. Finder says that if either of them is providing information, it would be to the Justice Department first, where they face criminal liability. And the Justice Department wouldn't necessarily welcome a decision by a witness to cooperate in civil litigation. Reprinted with permission. All rights reser ved. Page 7 AS SEEN IN USA TODAY MONEY SECTION, TUESDAY, JULY 9, 2002 Dominoes hit WorldCom partners, clients Unpleasant ripple effect also spreads to vendors, charities, sponsored events By Michelle Kessler USA TODAY The WB television network, PGA Tour and Texas Parks and Wildlife service aren't in telecom, but they've already been hurt by the WorldCom scandal. That's because they all did business with WorldCom, as did thousands of other companies. Now they're all trying to figure out where they stand with the struggling giant — and coming up with backup plans. This is not going to be pleasant for a lot of companies,† says Kerry Adler, CEO of WorldCom customer Webhelp. Among those affected: u V e n d o r s . WorldCom repor ted that its capital expenditures dropped 42% to about $1. 3 billion in the first quarter from a year ago, yet it remained a big customer for many telecom equipment makers. While it's unclear how accurate WorldCom's numbers are becaus e of the accounting scandal, what is clear is that its spending has slowed. The hardest hit is Juniper Networks, says Banc of America Securities analyst Christopher Crespi. WorldCom provided about 10% of Juniper's annual revenue, including â€Å"less than $7 million† this quarter, Juniper says. If WorldCom stops buying, that could dampen Juniper's forecast for the year. â€Å"It could easily subtract $50 million or $60 million off their top line,† says Soundview Technology analyst Ryan Molloy. Customers Cisco Systems, Nortel Networks and Redback Networks could also get stung, but WorldCom accounts for just a small percentage of total sales, says U. S. Bancorp Piper Jaffray analyst Edward Jackson. All telecom equipment makers could be affected in coming months, even if they didn't do business directly with WorldCom, analysts say. WorldCom was known for buying the latest, most high-tech equipment, forcing competitors to do the same if they wanted to keep up. With WorldCom out of the picture, spending could lag. u Contractors. In 1999, when consulting firm EDS signed an 11-year, $6. 4 billion contract to provide technology services to WorldCom, telecom was a growing industry. EDS is stuck with the deal and a related pledge to buy $6 billion worth of telecom services during that period. Now, EDS says it no longer wants to spend that much with WorldCom. It's in talks to work out a deal. RMH Teleservices has a five-year contract to provide customer service for WorldCom's MCI division. That accounted for 19. 5% of RMH's revenue from October to March. â€Å"While we cannot predict the future . . . we expect to continue to provide these services for MCI,† RMH leader John Fellows said in a statement. u Business partners. Last year, WorldCom pledged to buy millions of dollars in advertising from AOL Time Warner over several years. The exact terms were not disclosed. Now, that deal could be off, meaning fewer ads for Time magazine, cable's TBS and the WB television network. WorldCom also provides service to the company's AOL Internet division. AOL says it has backup providers in case WorldCom service is disrupted. Satellite cable provider DirecTV is holding meetings to determine how to handle its 4-month-old partnership with WorldCom. WorldCom was to provide the underlying network for part of DirecTV's high-speed Internet access service. Similar questions are being asked at Internet Security Systems, a software company that agreed in May to provide security services to WorldCom customers. The value of the two deals was not disclosed. * Sponsored events. Last week's Fourth of July fireworks Reprinted with permission. All rights reser ved. Page 8 AS SEEN IN USA TODAY MONEY SECTION, TUESDAY, JULY 9, 2002 celebration on the Mall in Washington was supposed to be paid for by WorldCom, which has sponsored part of the festivities for five years. But the company pulled out. The National Parks Foundation scrambled to find new funding from AT. Also in Washington, the MCI Center arena might soon be looking for a new sponsor and name. The WorldCom Classic, an annual PGA Tour stop in Hilton Head, S. C. , is in the same situation. u Charities. Each month, about 10,000 teachers receive free training in math, science and the arts from the MarcoPolo project, which is sponsored by WorldCom's charity arm. Now, program administrators and partners — including the National Geographic Society, American Association for the Advancement of Science and The Kennedy Center — are tr ying to make the proj ect independent of the struggling company. Last week, they pulled WorldCom's logos from the MarcoPolo Web site. They're applying to make it a â€Å"public charity,† says Caleb Schutz, president of WorldCom Foundation. There's a lot to lose if the company . . . pulled the plug. † For now, WorldCom still funds MarcoPolo. u Customers. The Texas Parks and Wildlife department spent last week printing temporary fishing and hunting licenses as a quick contingency plan. The department relies on a WorldCom computer network to transmit license information to 2,500 vendors. †Å"We certainly have to consider what might happen to our contract,† says Suzy Whittenton, a wildlife director. Webhelp, which outsources customer service for companies such as Microsoft, uses WorldCom to connect its overseas technology specialists with help-seekers in the USA. Because of a contract, Webhelp can't switch providers but was forced to get a backup provider in case WorldCom fails. That means twice the bills. â€Å"It's expensive, and at the end of the day, our clients pay for that,† says CEO Adler. Reprinted with permission. All rights reser ved. Page 9 Behind the Story: A Reporter’s Notebook The collapse of Enron and WorldCom, precipitated by revelations that both companies had misrepresented how profitable they were, threatens the health of the the nation’s stock markets. If investors can’t believe earnings numbers issued by the biggest companies in the USA, they won’t put their money into the market. And when investors take their money out of the market, as they’ve been doing for more than two years, businesses suffer. They can’t invest, they can’t grow as quickly and they can’t afford to hire more people. Greg Farrell Money reporter USA TODAY As the Enron and WorldCom examples demonstrate, there’s no room in a public marketplace for â€Å"creative accounting. † Once a few cheaters are revealed, the integrity of the entire marketplace is open to question. Greg Farrell is a reporter in USA TODAY’s Money section. He writes about fraud and white collar crime. In the past year, he has been reporting on Enron, Arthur Andersen, Martha Stewart and the Securities and Exchange Commission. Page 10 For discussion ADELPHIA PLANS TO FILE CHAPTER 11; ADELPHIA FOUNDER, 2 SONS, 2 OTHERS ARRESTED IN FRAUD (LIEBERMAN AND FARRELL) 1. Adelphia Corporation was the sixth largest cable company at the time of its collapse. The company was accused of a number of fraudulent activities including the manipulation of its financial reports. Specifically, the firm was accused of misreporting its cable subscription numbers in order to give the impression that the firm was growing faster than it was. For example, they counted subscribers from systems in Brazil and Venezuela where the company owns a minority stake in the company’s total subscribers. They also counted customers who ordered high-speed Internet services from companies owned by the Rigas family and clients that ordered home security services from Adelphia. Why would Adelphia’s management engage in what appears to be blatant misrepresentation of their number of subscribers? 2. When CEO John Regas of Adelphia was led away in handcuffs on racketeering charges, some complained that the justice department was making too public a display of its tough stance on white-collar crime. This type of treatment is normally associated with murderers and rapists. How do you feel about the importance of making a public spectacle of white-collar criminals? 3. The Adelphia lawsuit stated that the Rigases â€Å"used their domination and control of Adelphia, and their isolation from the scrutiny of the outside world, to engage in one of the largest schemes of self-dealing and financial wrong doing in American corporate history. Financial economists refer to this type of behavior as an agency cost since corporate executives are the agents of the firm’s owners or principals. How can stockholders protect themselves from the potential for self-dealing by corporate executives? ANDERSEN’S PARTNERS CHART FIRM’S FUTURE TODAY (FARRELL) 1. Arthur Andersen was once the premier public accounting firm but a string of high profile financial reporting disasters that culminated with the failure of Enron caused the demise of the once proud firm. Andersen’s failure highlights the fact that the principal asset of a public accounting firm is the firm’s reputation. Once the firm’s â€Å"credibility† is challenged its clients are no longer willing to pay for its auditing services. What is it that a public accounting firm does that requires it to have a sterling reputation for honesty? 2. Anderson’s initial lay off was 7,000 of its 26,000 employees before the firm completely collapsed and all employees lost their jobs. However, all of Andersen’s clients still needed auditing services so in many instances the employees continued to audit the same firms they had audited for Andersen, just for another auditing firm. If the employees just moved from one firm to another, was there really a layoff? Did Andersen employees really suffer from the demise of Arthur Andersen? Isn’t this also true of the Adelphia, Enron, and WorldCom employees? For more information, log on to http://www. usatodaycollege. com Page 11 Future implications WORLDCOM SCANDAL BRINGS SUBPOENAS, CONDEMNATION (BACKOVER AND VALDMANIS); DOMINOS HIT WORLDCOM PARTNERS, CLIENTS (KESSLER) The financial press coverage of the failures of Adelphia, Enron, and WorldCom have focused principally on stockholders who have lost everything they invested and creditors who stand to lose a portion of what they have loaned the company. However, other important consequences of these high profile failures are often overlooked including: (1) the financial and emotional losses suffered by employees who lose their jobs and face the prospect of a lengthy period of unemployment and possibly the dislocation costs of moving to another community to find work, (2) the local community public services and school systems who lose valuable tax revenues, and (3) the budget crises created for local charities and the arts that depend on corporate contributions for their continued survival. Bankruptcy courts focus on the contractual obligations of the firm to creditors and suppliers. It has been argued that the corporation is a â€Å"guest† of the society and as such has obligations to the entire web of stakeholders that have a financial stake in the firm’s survival. Should the claims of these â€Å"silent stakeholders† also be considered when a firm fails? About The Expert John D. Martin,Ph. D. Professor of Finance Carr P. Collins Chair Hankamer School of Business Baylor University From 1980 until 1998 John Martin taught at the University of Texas at Austin where he was the Margaret and Eugene McDermott Centennial Professor of Finance. Currently holding the Carr P. Collins Chair in Finance at Baylor University in Waco, Dr. Martin teaches corporate finance and financial modeling. His research interests are in corporate governance, the evaluation of firm performance, and the design of incentive compensation programs. Dr. Martin publishes widely in both academic and professional journals. Included among his academic publications are papers in the Journal of Financial Economics, Journal of Finance, Journal of Monetary Economics, Journal of Financial and Quantitative Analysis, Financial Management, and Management Science. Professional publications include papers in Directors and Boards, Financial Analysts' Journal, Journal of Portfolio Management, and Bank of America Journal of Applied Corporate Finance. u Dr. Martin co-authors several books including the following: u Financial Management, 9th edition (Prentice Hall Publishing Company) u Foundations of Finance, 4th Edition (Prentice Hall Publishing Company) u Financial Analysis (McGraw Hill Publishing Company) u The Theory of Finance (Dryden Press) Dr. Martin consults with a number of firms including Citgo, Hewlett Packard, Shell Chemical, Shell E, Texas Instruments and The Associates. Additional resources Working Paper Series — Financial Engineering, Corporate Governance, and the Collapse of Enron http://www. be. udel. edu/ccg/research_files/CCGWP2002-1. pdf For more information, log on to http://www. usatodaycollege. com Page 12

The effect of the London 2012 olympic games

As part of the London 2012 Olympic Games the Great British Government presented a legacy that they hoped would aid them to win the bid to host the games. This included what they hoped would become beneficial long-term effects socially and economically for Great Britain. One of the claims made the government was: ‘Harnessing the United Kingdom's passion for sport to increase grass roots participation, particularly by young people – and to encourage the whole population to be more physically active'. Department for Culture, Media and Sport, 2010) Meaning that hosting the games would change the nation's attitude towards physical ctivity, contributing to a hopeful increase in participation in sport. This investigation explores the link between hosting the Olympic Games and sports participation in the host country, in particular around the host city of London. The study focuses on measuring the legacy effects a year after the games began. This research is being created to gai n a greater understanding about how the 2012 Olympic games has affected the nation – London in particular.With this information we also would like to make the results more specific and find out: how the Olympic legacy has inspired people and how distance of residency from the Olympic stadium ill affect their perceived perception of the games and finally what economic and social barriers may stand in the way of individuals becoming involved post- Olympic Games. METHODS DESIGN Data generation was carried out from the Opening Ceremony (27th July 2012) to exactly one year after the Opening Ceremony (27th July 2013). The approach taken was twofold, firstly a questionnaire was conducted.The first method of this study uses a self-completion questionnaire to determine a link between the London 2012 Olympic Games and the perceived impact on sports participation across England. This allows participants to self-evaluate the impact of this event, and thus provides a subjective evaluation , but still shows an important social indicator. The questionnaire includes close-ended questions for easier completion and so respondents do not tire, and therefore a larger response is more likely making the data more representative.The Likert scale will be used; respondent's attitudes will be obtained by asking them to respond to a series of statements, in terms of the extent to which they agree with them, where 1 was ‘Strongly Disagree' and 5 was ‘Strongly Agree'. The number of uestionnaire. Examples of positive statements are: ‘grassroots participation would be boosted. An already sports-mad nation would get fitter and healthier. ‘ (Department for Culture, Media and Sport, 2010). And, ‘These champions and potential champions provide an important inspiration forothers to ‘have a gd. McKay, 1991). Examples of negative statements for use in the questionnaire are: sports organisations need to ensure that marketing is sensitive to consumer resista nce arising from an awareness of how difficult it is to emulate our sporting heroes and heroines. ‘ (Hindson et al. 1994).And, ‘It's no good having a great Olympics in 2012 and inspiring many young people to take up sport if we don't have the facilities, coaching and infrastructure to get them involved and keep them in sport. ‘ (Draper, 2003). Research conducted by Hindson et al. (1994) concluded that the Olympics had a positive effect on club membership. Conversely, Edcoms (2007) found no clear correlation between hosting the Olympic Games and sport participation as a long-term affect, however, may lead to short-term gains. The second part of the process involved another questionnaire. This part of the study involved obtaining socio-demographic information including age, gender and distance of residency from the Olympic Park, all of which could affect a residents perspective of the event.Previous research has indicated that reactions could be based on these key fa ctors (Twynam & Johnston, 2004). Research has indicated that in ethnic minorities, such as East London, barriers exist such as unaffordable facilities and unavailable childcare, high crime rates, fear for personal safety and culturally inappropriate activities are of primary importance and may influence willingness to articipate (Seefeldt et al. , 2002). The chosen technique to distribute the questionnaires was the ‘drop and collect' method.This involves the hand delivery and collection of the questionnaires, providing a cost effective, reliable and very fast method to complete this research. Respondents are able to complete the questionnaire at their own pace therefore are more likely to complete it. The technique avoids interviewer bias and control over the selection process.

Summary Module 4 Essay Example | Topics and Well Written Essays - 500 words

Summary Module 4 - Essay Example In particular, the council rejected the idea that the newborn children should not be baptized because they have no sin. The Council defended the idea that the fall of Adam and Eve led to the fact that even newborn children are sinful because they belong to the human race. For this reason, the baptism of children is considered as a mandatory procedure, which allows the child to cleanse the soul from sin. Overall, the emphasis was placed on the idea that man is a sinful creature and the one who denies this idea cannot be considered a Christian. Even the righteous person living in compliance with Gods commandments must realize that only God has no sin. In turn, in the chapter entitled Of Predestination (the book Summa Theologiae), Thomas Aquinas considers predestination. By analyzing the various arguments on this issue, the theologian comes to several conclusions that are extremely important in the framework of the Christian

Compulsory Purchase and Compensation Literature review

Compulsory Purchase and Compensation - Literature review Example There were statutory warnings and objections that were received during this period. In a 10-year period, there was lower than 25% of confirmed CPOs who went to public inquiry (Shaw, 2011). There were many local projects that have got promotions in the last five years. But the compulsory purchase was routed through different channels. The best examples for this were two: one was the Borders and Stirling-Alloa-Kincardine land acquisition, which was for a major railways project. And the other one was the authorization of the Edinburgh trams through private legislation (Shaw, 2011). This was put in force by the Scottish Parliament instead of a CPO (DETR, 2000). In the current scenario, there are some glaring examples which show the decline of CPO usage. First of all, the number of current compulsory purchase is limited. Second, the local authorities have limited rights for decision making and also acquiring the land. The compulsory purchase deployment will probably be increased in the future also (Shaw, 2011). What’s more, the general expertise of the local authorities requires getting a boost so that they can work effectively and efficiently (DETR, 2000). There is separate procedure legislation for crofting that is put into the Act in Scotland (Rowan & Farquharson, 2009) The various bodies are said to assess the claims for compensation which are related to the matters of crofts (Cuthbertson, 2007). When the acquisition is done through an agreement, then the adjudication is done through the Land Court of Scotland while if the claims arise from any of the compulsory purchases, then they are done through the Land Tribunal for Scotland (Barclay, 2010). If someone is seeking for an agricultural or any business property, then the authority is required to pay special attention to the issues that are related to business and farming. When someone is looking to acquire any

Military Crash and Rescue Research Paper Example | Topics and Well Written Essays - 1750 words

Military Crash and Rescue - Research Paper Example How do they coordinate efforts with firefighters and local law enforcement? The key purpose of an emergency rescue mission is securing human life and mitigating the damage. This requires proper coordination of efforts. A review of federal requirements on emergency air response indicates that there is a requirement under Title 14 Code of Federal Regulations that obliges all Part 139 certified airports to put in place a functioning airport emergency plan to help in hazard mitigation. Air Emergency Given the potential severity of an air disaster, the state of the emergency response in terms of disaster preparedness is of paramount importance. For any kind of air emergency situation, there are designated procedures that guide how the team ought to act. In cases of fire, for instance, there are procedures for evacuating people from the hazard area. In hostage situations, as well, there is a set of designated procedures on securing safety and retrieval of hostages. The State of Florida has put in place a comprehensive air emergency response regime. Florida’s Aviation Emergency Response Guidebook serves as an informational tool for guiding the response team in the event of an emergency (Lenahan, 1998). Sources retrieved from the annals of United States emergency response incidents such as September 11, 2001 indicate that the FAA is the key agency that deals with air emergencies as long as such emergency situations meet the criteria stipulated under 49 CFR 830 Notification and Reporting of Aircraft Accidents or Incidents and Overdue Aircraft, and Preservation of Aircraft Wreckage, Mail, Cargo, and Records. Further research illustrates that there is a round-the-clock aviation safety hotline - (800) 255?1111 - for reporting air emergencies (Barber, 2012). A review of federal requirements on emergence air response indicates that there is a requirement under Title 14 Code of Federal Regulations that obliges all Part 139 certified airports to put in place a functioni ng airport emergency plan. Having a responsive emergency plan helps in hazard mitigation since aviation emergencies involve mass casualties. Speed and responsiveness is the most significant measure of suitability in air emergency plans. The goal is to minimize casualties and secure the aircraft (Gabriel, 1985). Mayday Mayday is the commonly accepted international code of distress for aviators and marines. Once an aircraft or passenger plane encounters a technical issue, the pilot notifies airport authorities by placing a call. The designated procedure requires the issuer of the distress to utter the word three times â€Å"Mayday! Mayday! Mayday!† (Thompson, 2011) to specify it is a distress call. The federal emergency code stipulates the procedure through which a civilian aircrafts relaying a mayday call in the United States airspace ought to follow. The designated protocol is â€Å"Mayday, Mayday, Mayday!† followed by the name of station addressed, aircraft type and c all-sign, nature of the distress, present position (in case the aircraft is lost, the last known physical position and time could be useful) weather situation, pilot’s request, flight level/ altitude, remaining amount of fuel remaining, and number of passengers on the plane (Thompson, 2011). The communicator may also add any other useful information to assist in the rescue operation. While this is the designated prot

History and Imagination in Daniel's Richter's Facing East from Italian Essay

History and Imagination in Daniel's Richter's Facing East from Italian Country - Essay Example The book surpasses the narrow confinements of the academic study and depicts the Eastern and Western perspective of historical developments in early Native America from an instrumentalist point of view. Richter’s study also centres on the creation of histories and their construction as part of a transcontinental discourse. In the words of the author, the main purpose of the book is to â€Å"hear Native voices when they emerge from the surviving documents, to capture something about how the past might have been if we could observe it from Indian country† (9). In the following chapters, Richter achieves his purpose. History is personified and imagined through the accounts of the Native Americans. Organized in six chapters, the study reveals the evolution of the relations between the settlers and the Native Americans. The structure successfully captures the psychology behind this evolution and chronologically depicts its stages. Initially the image of the settlers is imagi ned by the Native people, as a distant, non-tangible world. Richter describes the materialization of this world and the gradual establishment of social dynamics, which Indians and settlers shared. The natives started to make use of the new tools and guns in order to improve their crafts, and as a result commerce began to prosper. Also, the redistribution of economic resources is a result of the innovation brought by the settlers (52-80). What makes Richter’s method interesting and authentic is its ‘double’ (his)tory-telling. He accounts for the perspective of the Westerners, as well as the perspective of the Native people, whose historical articulation of the same occurrences has been different. A good example is the story of Pokahontas in Chapter 3, where the opposing interpretations of the Natives and the settlers are discussed (Richter 69-110). In the final chapters Richter observes the tensions between the Natives and the settlers, which have been accumulated in two separate historic creations – the world of the Indians and the world of the settlers. The most challenging concepts of the book are presented probably in the last chapter, which describes the clash between the Indian and the White ethnic identities. The Indian identity exists as an oppositional element in a world, already dominated by the settlers. In this sense Richter’s observation offers a historically sensitive and instrumentalist reading of one of the most disputed passages in American history. Perhaps his greatest contribution in this study is his ability to make the reader visualize historical events, and to question their depiction in conventional academic literature and fiction. Part II Seeing history from different perspectives is more than a projection of the past – it is a condition for understanding why the present looks the way it does. In this sense, retelling American history through the eyes of the Native people is important for understa nding it not only as a mixture of flat events, but as part of a broader historical tendency. By seeing history through the prism of the Native people, we gain a different perspective on their attempts to adapt their system of beliefs, social traditions and customs to the growing patterns of dominance, which were being established by the settlers. Richter raises this peculiar topic of adjustability in his observation

Hinduism Essay Example | Topics and Well Written Essays - 2500 words - 1

Hinduism - Essay Example This paper will discuss Hinduism as a religion and a way of life. As earlier stated, Hinduism is considered by most people as a way of life rather than a religion (Flood 21). This is due to the fact that those who practice it have diverse beliefs, some of which appear to be unique to some communities for example in the rural areas and others for those living in urban areas. As it will be discussed later in the paper, these people have different gods whom they pray to. That not withstanding, they have various common beliefs that make them united under one umbrella of Hinduism. Apart from the belief that the term Hinduism was derived from Indus River, there are other theories which try to explain its meaning. For example, some people believe that the name was an invention of British people in the era of colonization while others believe that it was a term that was used by Persians to refer to India. However, Hinduism is believed to be one of the most ancient religions as several reports indicate that it was already in existence as early as 10000 B.C (Flood 29). One major aspect of Hinduism that has continued to attract criticism especially in the modern world of freedom and democracy is the caste system. This refers to the categorization of people into groups and sub groups on the basis of their family lineage as well as their occupation (Hawley 14). One of the major drawbacks of this system is that it marginalizes people of certain castes such that they cannot be allowed to socialize or intermarry with those of higher castes, who are accorded more privileges and respect in the society. The highest level in the Hindu caste system comprises of the Brahmins, who are considered to be the intermediaries between the gods and humans. In fact, the Hindu tradition defines Brahmins as the most excellent among all humans (Hawley 19). Due to this, they are entrusted with the responsibility of conducting religious rituals in

Law Essay Example | Topics and Well Written Essays - 2250 words - 2

Law - Essay Example Bright when he moved in to the house. Mr. Bright brought the property through Devon Aspects, an estate agent, upon the advice of his solicitors KPG Solicitors who in turn hired Reliable Surveys to do the structural survey of the property. Reliable Surveys assigned the actual task of surveying to Miss Norris, a newly-licensed surveyor. The issue in this case is whether or not Mr. Bright is compensable for his loss in the event he sells his Devon property at its present market value. If he is, the subsequent underlying issue is from whom he shall recover and what kind of action shall he bring before the court. At this stage however, recovery is a purely hypothetical matter since Mr. Bright has not yet sold his property and hence, has not yet actually incurred a loss. After a careful perusal and analysis of the problem, taking into account the participation of each and every person and entity involved, the Reliable Surveys stands as the most viable party from whom a civil action for recovery of compensation under the case Hedley Byrne v. Heller will be most successful in the event of the actuality of such loss. In the case at bar, Miss Norris, the neophyte surveyor of Reliable Surveys is the raison d’etre of Mr. Bright’s present predicament. Her haphazard and lackadaisical examination of the Devon property caused her to miss the crack on the back wall of the aforesaid house and the evident defect in the elevation from the back angle as well as the dilapidating gutter. Neither did the management of Reliable Surveys subject Miss Norris’ findings to a review and the basis of her findings which described the property as â€Å"good and sound† in her report signed on behalf of the former. There is a characteristic negligence on the part of both Miss Norris and her employer in the performance of their obligation. It is only reasonable to consider filing

Symbolism in Hardys Essay Example for Free

Symbolism in Hardys Essay Symbolism in Hardys Far from the madding crowd Hardy uses striking symbolism in the novel Far from the madding crowd to serve his purposes and attain the desired effects on the reader. The memorable descriptions of the great barn, the sword play and the storm-are all enriched with eloquent symbolism. It makes the events vivid before us and broadens the scope of the novel. In the opening chapters, Gabriel spies on Bathsheba ridiculously from behind a hedge, commenting on her vanity. He beholds Bathsheba though a hole, tending her aunts cows, in a birds eye view. From the loopholes of his hut, he watches her engaging in tomboyish antics on her horse. All these symbolize Gabriels limited view point and his candid nature. In chapter 2 ,, Hardy presents a magnificent description of Norcombe hill. The stately progress of the earth is contrasted to oaks special power of quiet energy. The innocent and helpless stirrings of the new-born lamb and the movements of the stars and the earth are contrasted to symbolize the frailty of human existence. In chapter 5, The landscape of Norcombe Hill seems symbolize Gabriels utter despair. The moon takes the form of an attenuated skeleton and the pool shimmers like ahead mans eye-nature seems to intertwine with Gabriels despair. Against the colorless background of the river and the wall. Fanny is contrasted as a mere shade upon the earth. This symbolizes her nullity and despair. Hardy also uses the framing device to symbolize Fannys weakness. She gazes up to converse with Troy framed in a window of his barracks . The white color of the snow mixing with the sky symbolizes the obsession of Boldwoods passion . The queer preternatural inversion of light and shade reflects the absurdity of his intense emotional state. The sheep-shearing scene at the barn abounds in rich symbolism. The shearing operations that have not been mutilated for long years are contrasted to the adapted to changes coming to the lives of the main characters of the novel. The detailed descriptions of the activities done in the great barn for each sheep symbolizes the declining prospects of Oak, the rising hopes of Boldwoods mind and the comments made by the rustics -all basing on the same lady. There is also sexual symbolism in this same chapter. The appalled ewe is subdued by Oak and Bathsheba regards the ewes sheared pink skin resembles a lady who blushes at the insult . the ewe emerging from the its fleece is compared to the Goddess of love which symbolizes the sexual intensity of Oaks violent passion. Gabriel, piqued by Bathshebas growing intimacy with Boldwood, injures a sheep in the groin-the entire scene symbolizes Oaks harmful sexual impulses toward Bathsheba. Troys spur entangles with Bathshebas dress-it symbolizes the trap of flattery which would be prepared by Troy for her. The spur is the symbol of sex and the dress of Bathsheba is a symbol of femininity -the male aggressive masculinity has trapped femininity. However, the scene of the sword play contains the greatest symbolism in the novel. The hollow in which the sword play is performed evokes the sexual potential of the relationship between Troy and Bathsheba. The setting is described with rich feminine imagery that sets up the erotic tone of the entire tone of the entire scene while Bathsheba herself is passionately excited . Time and place are made clear at once and so is Bathshebas desire for male domination . The sword is used here as a symbol of male virility . At different points ,Hardy uses striking imagery to link man and sword -Troy raises the sword amid the fading sunlight , which gleamed a sort of greeting, like a living thing Troy is methodical and controlled ,the whole atmosphere is turned meteoric and charged . Troy demonstrates the murderous and blood-thirsty cuts of which the sword is capable . Then he splits a caterpillar upon her bosom which glisten towards her bosom and ,seemingly entered it . Troy wins and Bathsheba is quite overcome having her passions spent . Troy takes off her lock of hair as a trophy. Troy departs in a flash , like a brand . The simile symbolizes the harmful nature of the passion he has aroused. The storm scene in chapter 36-38 contain rich symbolism. The flashes symbolize the blinding truth of Bathshebas predicament and her womanish folly. But the relation between her and Oak strengthens as the thatch begins to conceals the Ricks. And when the storm comes, it is described with extended imagery ,the mailed army of lightning springs like a serpent , with the shout of a fiend . Hardy uses such imagery to convey the forces of nature hostile to human beings . The scene of chapter 44 is significant as it indicates Bathshebas return to the same hollow where sword-play was performed by Troy. The aforesaid hollow is now turned into a malignant swamp. The swamp is the symbol of utter despair into which Bathsheba has fallen . The symbolism goes far deeper as Bathsheba had seen the place before when she was captivated by Troy at the sword play. At that time , the ferns were soft , feathery arms caressing her feet but now they are withering fast and the hollow is a nursery of pestilences . The two different states of the hollow reflects the two opposing states of mind and suggests the outcome of marriage with Troy . Now she has understood the implications of her marriage and she herself and Nature are fused as the leaves rush away in the breeze. This symbolizes Nature as a stark force and implies that the parallel between Nature and human mood should not be pursued by man.

Cadbury Company An Analysis of Financial Statements

Cadbury Company An Analysis of Financial Statements This analysis is to examine the performance of Cadbury in 2007 and 2008 from their financial statements which are shown below. There is a significant improvement in Cadburys confection revenues which increased 15% to  £5.4bn. Cadbury increased their price in their selling in 2008 for balancing the rise of their input cost and besides increased the price of their product, Cadbury also sleek their cost base, by decreasing in sales, to save their cost from labours, raw materials, and electricity, also Cadbury reduced their general and administration cost and in central overhead. Because of this movement, from the table of income statement and balance sheet, there is a significant change in their operating margin which is 278 million pounds in 2007 and it increased to 388 million pounds in 2008. There is also a big increase in discontinued operation from 2007 to 2008, which Cadbury made profit 258 million pounds in 2007 but loss 4 million pounds in 2008, this was happened because in 2008, Cadbury got a transaction cost of separation of the Americas Beverages business, in this year, Cadbury completed the demerger of its American Beverages business and sell the Australia Beverages business. From the table data that we had from Cadbury website, here are calculations to know about performance of Cadbury that each calculation has its own purpose. Mainly ratios have three important functions which are: From ratios, it is easier for us to make a conclusion than from a financial statement itself, because sometimes financial statement is very complex, and it is hard for us to draw a conclusion from that. Ratios provide a good benchmark that makes us easier to compare from one company to another. Here are some ratios about performance of Cadbury which all calculation is in million pounds. From this ratio, we compare 3 years financial statements and the ratios are: Profitability Efficiency Investment ratios PROFITABILITY Return on ordinary shareholders funds (ROSF) In 2007 Average shareholders fund = (3696+4173):2 = 3934.5 ROSF = (407 : 3934.5) x 100 = 10.344% In 2008 Average shareholders fund = (4173+3534):2= 3853.5 ROSF = (366 : 3853.5 ) x 100 = 9.5% Return on Capital employed (ROCE) In 2007 Average total assets less current liabilities = ( 6855 + 6724 ) : 2 = 6789.5 ROCE = (278 : 6789.5) x 100 = 4.095% In 2008 Average total assets less current liabilities = (6724 + 5507) : 2 = 6115.5 ROCE = (388 : 6115.5) x 100 = 6.345% Operating Profit Margin In 2007 Operating profit = 278 Operating profit margin = 278 : 4699 x 100 = 5.92% In 2008 Operating profit = 388 Operating profit margin = 388 : 5384 x 100 = 7.21% Gross Profit Margin In 2007 Gross profit margin = (2195 : 4669) x 100 = 47.01% In 2008 Gross profit margin = (2514 : 5384) x 100 = 46.69% EFFICIENCY Inventory days In 2007 Ratio = (821 : 2504) x 365 = 119.67 days (120 days) In 2008 Ratio = (767 : 2870) x 365 = 97.54 days (98 days) Total asset turnover In 2007 2006 = Fixed assets + current asset = 7815 + 2396 + 22 = 10233 2007 = Fixed assets + current asset = 8667 + 2600 + 71 = 11338 Average = (10233 + 11338) : 2 = 10785.5 Ratio = 4699 : 10785.5 = 0.448 In 2008 2007 = Fixed assets + current asset = 8667 + 2600 + 71 = 11338 2008 = Fixed assets + current asset = 5990 + 2635 + 270 = 8895 Average = (11338 + 8895) : 2 = 10116.5 Ratio = 5384 : 10116.5 = 0.532 Net asset turnover In 2007 Average total assets less current liabilities = ( 6855 + 6724 ) : 2 = 6789.5 Ratio = 4699 : 6789.5 = 0.688 In 2008 Average total assets less current liabilities = (6724 + 5507) : 2 = 6115.5 Ratio = 5384 : 6115.5 = 0.88 INVESTMENT RATIOS Dividend cover In 2007 Profit available for dividend = 149 + 258 = 407 Ratio = 407 : 311 = 1.31 In 2008 Profit available for dividend = 370 + (-4) = 366 Ratio = (366 : 295) = 1.24 Dividend Payment Ratio In 2007 Profit available for dividend = 149 + 258 = 407 Ratio = (311 : 407) x 100% = 76% In 2008 Profit available for dividend = 370 + (-4) = 366 Ratio = (295 : 366) x 100% = 81% Summary Based on calculation above, we can summarise a few things. There is a relation between profitability and efficiency, which is ROCE = operating profit margin x asset turnover In 2007 ( 278 : 6789.5 ) = ( 278 : 4699 ) x ( 4699 : 6789.5 ) In 2008 ( 388 : 6115.5 ) = ( 388 : 5384 ) x ( 5384 : 6115.5 ) It means that to improve ROCE, Cadbury has to improve their operating margins, from this Cadbury has increased their sales (increase their price of their product and reduce their cost), this method is effective, that we can see from their turn over which had increased from 4.7 billion pounds to 5.4 billion pounds in 2008. Return on ordinary shareholders funds (ROSF) ROSF means to compares the profit that available for shareholders with their investment in business. ROSF uses average investment in the business, from the calculation of ROSF, we can see that the profit for shareholders had decreased from 2007 to 2008 which was 10.344% in 2007 and 9.5% in 2008, this was happened because in 2008 there was loss because discontinued operation which has explained from above. Gross Profit Margin and Operating Profit Margin Gross profit margin calculates about the difference between cost of manufacturing and the selling price, from that we have calculated on above, there is a slightly decrease from 2007 to 2008 which was 47.01% in 2007 and it was decreased to 46.69%. for operating margin, it calculates about operating profit that Cadbury received in every 100 pounds of sales, in Cadburys financial statement, we can see that there is an increase from 5.92 in 2007 to 7.21 in 2008, which means that in 2007 Cadbury received 5.92% as operating profit and 94.08% going in cost, and also in 2008. Inventory days From this calculation, it calculated about planning how much inventory level that can cover for the sales, it means to calculate how many days that left before you run out your inventory and there will be nothing for your customers to buy. from the calculation, we can see that there was a decrease from 2007 to 2008 in inventory days, which was 120 days in 2007 and 98 days in 2008, it means that Cadbury in 2007 Cadbury had 120 days left to cover their selling so in that time if Cadbury did not produce their product, then they had 120 days to cover before they run out, and it had decreased in 2008 to 98 days. Total asset turnover and Net asset turnover Total asset turnover of Cadbury PLC in 2007 and 2008 were 0.448 and 0.532, whereas their net asset turnover in 2007 and 2008 were 0.688 and 0.88. Total asset turnover is based on total assets while net asset turnover is based on total assets less current liabilities. According to data in 2008, it showed that Cadbury got  £ 0.532 for every  £ 1 of their assets and got  £ 0.88 for every  £ 1 of their net assets. This situation indicated that Cadbury had loss  £ 0.468 per  £ 1 of their assets and had loss  £ 0.12 per  £ 1 of their net assets. Dividend cover and Dividend payment ratio Both of those ratios have same purpose which is to know how much money that the shareholders received from the profit of the company. In 2007, the dividend cover and dividend payment ratio were 1.31 and 76% while the dividend cover and dividend payment ratio in 2008 were 1.24 and 81%. It expressed that Cadbury got some profit which is  £ 1.31 per  £ 1 that Cadbury paid out as dividend in 2007 and they got  £ 1.24 in 2008. Those percentages expressed the amount of profit that is allocated to pay the shareholders as dividend, so 76% and 81% of their profit has been paid out as dividend. The Analysis of Financial Statements of Cadbury Competitor Cadbury has several competitors in confectionary business which are Nestle, Mars, etc. In this case, we would like to compare Cadbury with Nestle because Nestle is the largest food and beverage company in the world. Nestle also produces chocolate, gum, and candy same as Cadbury. The tables of financial statements of Nestle are shown below. According to table that is shown above, we can analyze the financial statements of Nestle. There are several ratios that we can calculate which are: Profitability Return on ordinary shareholders funds (ROSF) In 2007 = 20.79% In 2008 = 37.92% Return on capital employed (ROCE) In 2007 = 20.08% In 2008 = 34.58% Operating profit margin In 2007 = 13.42% In 2008 = 20.91% Gross profit margin In 2007 = 58.13% In 2008 = 56.93% Efficiency Inventory days In 2007 = 75.14 days In 2008 = 72.03 days Total assets turnover In 2007 = 0.98 In 2008 = 1.09 Net assets turnover In 2007 = 1.50 In 2008 = 1.65 Efficiency Acid test ratio In 2007 = 0.61 In 2008 = 0.71 Investment ratios Dividend cover In 2007 = 2.49 times In 2008 = 3.72 times In 2008, turnover of Cadbury and Nestle were  £ 5,384 millions and  £ 55,174.6988 millions, whereas the net profit of Cadbury and Nestle were  £366 millions and  £ 9,563.75502 millions. From those data, we can compare both of their performance in 2008. Cadbury = = 0.068 = 6.8% Nestle = = 0.173 = 17.3% Based on those results, it looks Nestle has a better performance than Cadbury. Nestle has a lot of variety of products that they have sold and Nestle company is also has wider market than Cadbury. The categories of Nestle products are baby foods, breakfast cereals, chocolate and confectionery, beverages, bottled water, dairy products, ice cream, prepared foods, foodservice, and pet care. (ANSWERS.COM http://www.answers.com/topic/nestl-sa). That reason is the one of many reasons that is causing Nestle performance is better than Cadbury. However, if we observe in one category such as chocolate and confectionary, Cadbury has a good market rather than Nestle. Cadbury is the second largest candy factory in the world after Mars and the second largest gum factory in the world after Wrigley.