Analysis of Africas Economy

Analysis of Africas Economy Several economists around the world are wondering whether the majority of Africans are benefiting from investment and profits originating from the continent. African leaders have been in the media claiming that Africa is experiencing one of the highest economic growth rates in the recent past. However, a growing gap between the rich and the poor, increase in cost of living and cost of consumer goods has disproportionate effects on working people as well as the poor. Countries such as Nigeria and Ghana that have reported to be undergoing economic growth are experiencing internal crisis linked to a rising cost of living and need to increase government expenditure on infrastructural development (Ndulu 5). Despite the fact that Nigeria was named as the largest economy in Africa, its women, youth, farmers and workers are increasing their demand for access to quality life, resources and wealth. Furthermore, several alarming reports indicate that the economic growths in various parts of Africa are more complicated than the leaders’ indicate. As result, a research was conducted to unearth the issues behind the economic problems, how African governments and leaders can address them (Ndulu 37). The major problem investigated is the interconnection between economy, social and political leadership with the current economic situation across Africa. It was crucial to analyze case studies and literature reviews containing information on African Economy. They analyzed relevant trade publications, annual economic reports, newspapers, magazines and on-line databases. Because of the time factors, the researchers relied mostly on web for data because it is faster and economical. Volunteers from public and private sectors, African economists, workers, International Monetary Fund, World Bank and African Development Bank provided necessary literature through the publications. The large pool of participants allowed the researchers to obtain wide range of data that was then crosschecked against other data to ascertain its validity. It was necessary to analyze data from various African countries such as Nigeria, Ghana, Kenya, Democratic Republic of Congo and South Africa. Nigeria was preferred because it is the economic powerhouse of Africa while Ghana is on the right path to democracy in Africa. Kenya seems to growing both democratically and economically while Democratic Republic of Congo was considered because it has vast natural resources. It was also necessary to compared the economies of such countries, analyze the various natural resources found in those countries, evaluate various sources of income. Finally, analysis of the relationship between democracy and economic growth, natural resources and economic growth and the relationship between economic growth and living standards of individuals was crucial (Ndulu 179). The research process indicates that African economy is likely to grow up to 4.7% during this year and accelerate to 5% in 2015. However, the growth in economy does not translate to infrastructure development, job creation, improved standards of living as well as reduction of high poverty level as well reducing inequality in Africa (African Development Bank 1). West African countries like Nigeria and Ghana continue to experience highest levels of economic levels ranging between 6.7% 7% and are likely to increase further by 2015. The economic growth is due to investment in minerals and oil, democratic governments and good leadership. East Africa is equally experiencing economic growth that has increased up to 6% from last year (Economic Commission for Africa 39). Kenya’s economy has grown due to increased consumer spending; Tanzanians economy has grown due to higher consumption and investment in natural gas. Lastly, Uganda economy is being enhanced by development in telecommuni cations, transport, construction as well as construction of burgeoning oil industry. In the southern region of the continent, the growth is likely to go up from 3.6% to 4.2% due to increased investments and rising mineral mining in South Africa. Economic growth in Africa will be weakest in North Africa due to political instability in the regions and fleeing of investors (Ndulu 193). The research notes that Africa economy is driven by exports, mineral exploitation and commodity production, but the rate is not yet optimal. This is because job creation is weak and the growth has not addressed poverty issues, poor living standards and rising inequality(Westenholz-Bless Achola 97).. The informal sector is still very large yet opportunities remain limited for those seeking employment. This is evident by high rates of youth unemployment as well as wide gender disparities in employment and earnings. Furthermore, increased pressure on labor markets due to increase in population pressure means no any sufficient impact can be felt by the majority citizens. The researchers established that weak job creation is brought about by overreliance on agriculture and mining as source of employment. Overreliance on farming leaves various countries susceptible to weather-related shocks. In addition to this, civil wars continue to pose a huge threat to economic activities in countries like the Democratic Republic of Congo, Central African Republic, South Sudan and Somalia (Ndulu 200). Though Nigeria is believed to be the economic powerhouse of Africa, the country has serious unresolved problems linked to distribution of wealth and living conditions of the majority Nigerians. According to the graph below, most Nigerians are unsatisfied with their government because the rates of poverty and unemployment are highest in Nigeria compared to other African countries despite the fact that it is the economic power house of Africa (see figure 01). Furthermore, the rate of employment seems to be increasing yearly. Unequal distribution of resources in the country has led to an internal conflict in northern part of the country. The conflict was associated with the majority northerners, who are poor, led to stagnated economic growth in the region. There has been other instances of bombing and abduction of schoolchildren in Nigeria as way of protesting against unequal distribution of resources and declining job opportunities. This has compelled most youths to engage in criminal activities to obtain money to cater for their expenses. Source: University of Twente. Nigeria Energy Study Report, Enabling Urban Poor Livelihood Policy Making: Understanding the Role of Energy Services. May 2014, Figure 01. Africans must rise up and determine their own destiny without any fear. From the results of the findings, there is a clear relationship between a peaceful democratic country and economic growth. Countries like Ghana and South Africa have experienced economic development due to peaceful elections and responsible leaders who encourage investors to invest in the countries. Rwanda that was on brink of self-destruction due to civil war in 1994 is now experiencing high rates of economic growth due to good leadership. This is a clear indication that security of a country is directly related to economic growth. Security ensures everyone gets an opportunity to go to work, students go to school and other economic activities take place. In addition to this, it gives the country a humble time of producing quality goods to sell abroad. As result, the country obtains revenue from the economic activities that lead to economic growth (Hughes, Mills Street, 01). Africans must also avoid overreliance on minerals and farming as the main source of livelihood. Countries like Uganda and Kenya have created job opportunities in sectors like road construction, trade activities, and telecommunication sector and transportation industry. The situation shows various job opportunities that can be created outside the traditional ones. In order to avoid uncertainties that come with climatic changes, Africans should utilize their rivers and lakes to create irrigation schemes. They should borrow irrigation technology from Israel that is a desert country yet it produces more food than it can consume. Lastly, Africans should observe family planning methods. The report indicated that most parents give birth to more children than they can take care of. This increases pressure on the limited resources in the continent (Hughes, Mills Street 1). Works Cited African Development Bank. Nigeria Economic Outlook. 2014. Web. 15 May 2014. Economic Commission for Africa. Economic Report on Africa 2008: Africa and the Monterrey Consensus: Tracking Performance and Progress: Overview. Addis Ababa: Economic Commission for Africa, 2008. Print Hughes, Ian. Mills, Greg. Street, Michael. â€Å"The solution to Africas woes lies with Africans, not the west.† The Observer mag. 10 March 2013. Web. 12 May 2014. Ndulu, B J.The Political Economy of Economic Growth in Africa, 1960-2000. Cambridge: Cambridge University Press, 2008. Print. University of Twente. Nigeria Energy Study Report 2005, Enabling Urban Poor Livelihood Policy Making: Understanding the Role of Energy Services. 2005. Web. 12 May 2014. Westenholz-Bless, Claire. Paul P. W. Achola.Fundamentals of Social Research Methods: An African Perspective. Cape Town, South Africa: Juta Legal and Academic Publishers, 2007. Print.

General Motors - Financial Ratio Analysis Essay -- Business Finance Ac

General Motors - Financial Ratio Analysis I. General Motors History Highlights In its early years the automobile industry consisted of hundreds of firms, each producing a few models. William Durant, who bought and reorganized a failing Buick Motors in 1904, determined that if several automobile makers would unite, it would increase the protection for the group. He formed the General Motors Company in Flint, Michigan, in 1908. Durant had bought 17 companies (including Oldsmobile, Cadillac, and Pontiac) by 1910, the year a bankers' syndicate forced him to step down. In a 1915 stock swap, he regained control through Chevrolet, a company he had formed with race car driver Louis Chevrolet. GM created the GM Acceptance Corporation (auto financing) and acquired a number of businesses, including Fisher Body, Frigidaire (sold in 1979), and a small bearing company, Hyatt Roller Bearing. With the Hyatt acquisition came Alfred Sloan, an administrative genius who would build GM into a corporate colossus. Sloan, president from 1923 to 1937, implemented a decentralized management system, now emulated worldwide. The auto maker competed by offering models ranging from luxury to economy, colors besides black, and yearly style modifications. By 1927 it had become the industry leader. GM introduced a line of front-wheel-drive compacts in 1979. Under Roger Smith, CEO from 1981 to 1990, GM laid off thousands of workers as part of a massive companywide restructuring and cost cutting program. In 1984 GM formed NUMMI with Toyota as an experiment to see if Toyota's manufacturing techniques would work in the US. The joint venture's first car was the Chevy Nova. GM bought Ross Perot's Electronic Data Systems (1984) and Hughes Aircraft (1986). In 1989 the company bought 50% of Saab Automobile. In 1990 GM launched Saturn, its first new nameplate since 1926, reflecting a new companywide emphasis on quality. Two years later it made the largest stock offering in US history, raising $2.2 billion. Culminating a period of boardroom coups (relating to the company's lagging effort to reduce costs) in the early 1990s, John Smith replaced Robert Stempel as CEO. NBC apologized in 1993 for improprieties in its expose alleging that GM pickups equipped with "sidesaddle" gas tanks tended to explode upon side impact. The government nonetheless asked the ... ...improved.   Ã‚  Ã‚  Ã‚  Ã‚  The stock holders equity has increased dramatically indicating the better management of the companies equity.   Ã‚  Ã‚  Ã‚  Ã‚  The EBIT has improved for the last two year mainly because the level of interest paid has decreased due to the reduction of liabilities. Profitability   Ã‚  Ã‚  Ã‚  Ã‚  The Gross Profit Margin has increased from 1993 to 1994 as the cost of goods sold did not increase at the same level that the sales increased. The Operating Profit Margin ratio was stable in 1995 when compared to 1994 and the Net Profit Margin has also been improving for the last two years.   Ã‚  Ã‚  Ã‚  Ã‚  The Return on Total Assets has increased due the increase in the companies profitability, while Return on Equity has decreased on the last two years as the stockholders equity increased Overall   Ã‚  Ã‚  Ã‚  Ã‚  It is clear that the profitability of the company has been increasing for the last 2 years, mainly due to the decrease in liabilities, improvement in accounts receivable and better management of the company debt..   Ã‚  Ã‚  Ã‚  Ã‚  The company also demonstrates that the profitability can be improved even further by having better inventory management and productivity maximization on their fixed assets.

“The Lady or the Tiger”: What Really Happened?

Dustin Powers Mr. Lamon AP Language 3 December 2012 â€Å"The Lady or the Tiger†: What really happened? The Lady or the Tiger, a captivating short story of love and loss, teases your imagination by integrating the rising action at the end of the story only to leave you to make your own interpretation of how the falling action concludes. The author uses a third person omniscient narrator so to make it seem as though the he doesn’t even know how the story truly ends. The finale to the short story has been conversation of much debate.What is behind door he opens? Does he die on the princess’s accord? What happens, no one essentially knows, but him dying is the only logical ending that could subsist. The tale starts out with a fascinating introduction by classifying the king as â€Å"semi barbaric† â€Å"florid† and â€Å"untrammeled,† but on the contrary the narrator begins to describe him as â€Å"†¦somewhat polished and sharpened by the progressiveness of distant Latin neighbors†¦Ã¢â‚¬  Although it is not directly stated where the tale takes place, one can pin point the story to Medieval Europe c. 00-400 AD, a very tumultuous time. Influenced greatly by the Roman Empire, as they were a prominent society at the time, the European continent was at a crossroads between the liberalism of the Latin culture, and the less enlightened methodologies that were prerequisite to the changes at the time. This setting is what the root of the king’s brutality and the passing of these traits develop. The fictional account tells of the king’s daughter being â€Å"†¦as blooming as his most florid fancies, and with a soul as fervent and imperious as his own. As unlikely as it seems the princess seems to create a bond with a young man that is of â€Å"lower station† than she. This short lived relationship of a few months was cut to an abrupt end by the Barbaric King. Never once does the story mention th e princess make any attempt of arguing the innocence of her lover. This abandonment can only be explained by her savage nature. It says that she could have possibly never loved him in the first place, and that maybe she was just using him to fill a void her over protecting father created by sheltering her from finding a ompanion. With the slightest possibility that the arrogant and haughty princess had come to truly love this man then she would know for a fact that he would be safe of this cruel justice, because as the decision was left up to fate then there would be no question of what was coming out of the door. If she truly had any admiration for her lover, and trust of his innocence in his love then she would allow him to make his choice uncompromised by her instruction. She would allow him to open the door to the chamber with the â€Å"fair maiden†. But she did not.With a slight notion to her right she indicates which door needed to be opened. Turning to face his fate th e young man opened the door to his right leaving his destiny in the hands of the demented princess. Possibly scared of his innocence and fate’s compassion, considering the true love he possessed for her, she directed him to door with the lion. This is just a sadistic favor of disposing this inconvenience for her father. Once again if the princess did actually truly have feelings for him then she had proven to be very jealous of the lady behind the door.While if she had not had those impulses toward him the animosity she had toward the damsel was strictly out of the hatred of the young girls lust over one of her possessions. Either way it was not left unknown that she had much discontent with her by saying, â€Å"Often had she seen, or imagined that she had seen, this fair creature throwing glances of admiration upon the person of her lover, and sometimes she thought these glances were perceived, and even returned. With the princess in possession of the knowledge of the locat ion of the tiger she had the power to control the future of both the young man and the young woman. The real or unreal passing of glances between the two would be the end of him, because the jealousy she had towards the maiden would cause an â€Å"If I can’t have you no one can† mentality. The princess couldn’t bear the thought of them being happy together so she sends him to the tiger.

Process Analysis in Richard Selzers Essay The Knife

Process Analysis in Richard Selzers Essay The Knife An accomplished surgeon and a professor of surgery, Richard Selzer is also one of Americas most celebrated essayists. When I put down the scalpel and picked up a pen, he once wrote, I reveled in letting go. The following paragraphs from The Knife, an essay in Selzers first collection, Mortal Lessons: Notes on the Art of Surgery  (1976), vividly describe the process of the laying open of the body of a human being. Selzer calls the pen the distant cousin of the knife. He once said to author and artist Peter Josyph, Blood and ink, at least in my hands, have a certain similarity. When you use a scalpel, blood is shed; when you use a pen, ink is spilled. Something is let in each of these acts (Letters to a Best Friend  by Richard Selzer, 2009). from "The Knife"* by Richard Selzer A stillness settles in my heart and is carried to my hand. It is the quietude of resolve layered over fear. And it is this resolve that lowers us, my knife and me, deeper and deeper into the person beneath. It is an entry into the body that is nothing like a caress; still, it is among the gentlest of acts. Then stroke and stroke again, and we are joined by other instruments, hemostats and forceps, until the wound blooms with strange flowers whose looped handles fall to the sides in steely array. There is sound, the tight click of clamps fixing teeth into severed blood vessels, the snuffle and gargle of the suction machine clearing the field of blood for the next stroke, the litany of monosyllables with which one prays his way down and in: clamp, sponge, suture, tie, cut. And there is color. The green of the cloth, the white of the sponges, the red and yellow of the body. Beneath the fat lies the fascia, the tough fibrous sheet encasing the muscles. It must be sliced and the red beef of the muscles separated. Now there are retractors to hold apart the wound. Hands move together, part, weave. We are fully engaged, like children absorbed in a game or the craftsmen of some place like Damascus. Deeper still. The peritoneum, pink and gleaming and membranous, bulges into the wound. It is grasped with forceps, and opened. For the first time we can see into the cavity of the abdomen. Such a primitive place. One expects to find drawings of buffalo on the walls. The sense of trespassing is keener now, heightened by the worlds light illuminating the organs, their secret colors revealedmaroon and salmon and yellow. The vista is sweetly vulnerable at this moment, a kind of welcoming. An arc of the liver shines high and on the right, like a dark sun. It laps over the pink sweep of the stomach, from whose lower border the gauzy omentum is draped, and through which veil one sees, sinuous, slow as just-fed snakes, the indolent coils of the intestine. You turn aside to wash your gloves. It is a ritual cleansing. One enters this temple doubly washed. Here is man as microcosm, representing in all his parts the earth, perhaps the universe.    * The Knife, by Richard Selzer, appears in the essay collection Mortal Lessons: Notes on the Art of Surgery, originally published by Simon Schuster in 1976, reprinted by Harcourt in 1996.

Critical Record of a Shipmasters Duties The WritePass Journal

Critical Record of a Shipmasters Duties Introduction Critical Record of a Shipmasters Duties IntroductionSalvageGeneral AverageHM Insurance PI InsuranceBibliography:Related Introduction As per the scenario, I am the master of a 30,000 tonne general cargo ship under the voyage charter sailing from UK, bound for Korea after loading a cargo of steel pipes of high grade. After a visual inspection found that some of the steel pipes appeared rusty, also no shore side surveyors were appointed by the parties concerned. During the voyage my vessel collides with a fully loaded container ship which is under a time carter bound for Antwerp. The container ship suffered minor hull damage forward part and consequently several containers were lost overboard. Also the container ship had to jettison some of the containers in order to maintain stability after water ingress. Due to collision own vessel suffered severe damage to no. 1 port hold which resulted partial flooding. After the collision for emergency dry dock repairs both the vessels were towed to the port of refuge. The container ship organises a daily hire agreement and the own vessel was towed under Lloyds open form due to the fact that vessel taking in water. Own vessel had sailed with a faulty radar equipment and this was found out in a later investigation carried out by hull and machinery surveyors. The records shows that the container ship was seaworthy and a day before the collision the second officer was medically evacuated due to a severe injury and other deck officers were working shorthanded. The master has the responsibility to do whatever is necessary to preserve his vessel and cargo from any loss or damage. In order to consider a vessel seaworthy the vessel must have all statutory certificates valid, cargo should be properly stowed and secured, Radio and navigational equipment in good working order. There should be sufficient fuel and stores on board. Appropriate number of officers and crew as per manning certificate with properly qualified officers and crew. Ensuring that fully corrected and latest edition of navigation charts and publication available onboard at all time. Vessels sailing in a seaworthy condition will only be covered by the insurance.   It is always the duty of the owner of the vessl to ensure the seaworthiness of ship and if ships sail in a seaworthy condition she will be under insurance cover. â€Å"The obligation of the owner to exercise due diligence to ensure that the ship is seaworthy before the commencement of voyage.(ie taking all precaution to ensure that the vessel is fit for the voyage)† As per the hague-visby rule the liability and the responsibility of the carrier will be bound at the beginning of the voyage and also prior beginning of the voyage to exercise due diligence to prepare the vessel seaworthy and properly manned and equipped and supply the ship. To make the cargo spaces and other parts of the ship where goods are carried fit for the reception and carriage of cargo and preservation. â€Å"Article IV of rules states that neither the carrier nor the ship is liable for any loss or damage which arise or result from un-seaworthiness unless caused by want of due diligence on the part of the carrier to make the vessel seaworthy in all respect mentioned above conforming with the conditions given in the article three of the rule† â€Å"If any damage or loss resulted due to the un-seaworthiness of the vessel the responsibility of proving the exercise of due diligence will be on the carrier or other person claiming under this article† As per the scenario the carrier has failed to make the vessel seaworthy and failed in carrier’s responsibility and liability and hence there was a breach contractual terms and therefore the vessel will be responsible for the damage of cargo under the hagevisby rule. In the scenario the master accepts a letter of indemnity and signed a clean bill of lading. The BOL without any endorsement made by the ship master is called a clean BOL which describes the goods and states cargo quantity and their condition. The issuing and accepting a clean BOL states that the cargo has believed to be loaded correct quantity and in good condition. The vessel cargo found rusty and ship sailed in a unseaworthy condition. Also there was no surveyors were appointed and also the master accepted letter of indemnity and signed a BOL without any remarks on it. The letter of indemnity which is offered by the shipper in an inducement towards signing a clean BOL, which officially can absolve from blame or relieve the master from the obligation of liability for signing the BOL and the master should not have accepted letter of indemnity without consultation or clear instruction from the owners and should have made his own bill and presented to the shipper. Now with the clear BO L the shipper can pursue a claim against the ship owner for the cargo damage as the shipper has BOL as an evidence that the cargo stowed and loaded in good condition. The master should have immediately informed the owners about cargo condition and his negligence will result restrictions to the owners in protesting against the claims.   The master should also have requested the owners for appointing an independent surveyor and surveyed the vessel and this would have saved the owners from any legal claims and any delays caused. The master should also have mentioned the surveyors finding in the BOL as the steel cargo was rusted and for evidence he should have taken some photographs/video etc. And it is also very important of collecting/keeping all evidences such as long book entries and witness statements which will help the owners to claim protection the carriage of good act. The vessel sailed from UK with a defective radar equipment and this was very well known to the master and the ship owner. This is the violation as per the rules HRV, the owner is liable to provide his ship in a seaworthy condition prior sailing from the port and this could result the shipper to argue that the ship was unseaworthy at the commencement of the voyage. The decision of the owners and the master to sail without a working radar may have resulted in collision with the container ship. The unseaworthy ship prevents the owner of the general average contribution from the cargo owners. And the expenses incurred during salvage operation will also be settled by the owners as they cannot claim for salvage coverage due to unseaworthy ship. For the general average claims there will be an intentional/sacrificial act and the loss and damage of goods will be claimed from the cargo insurers. The loss or damage of cargo due to collision will be covered under particular average and not in General average. The hull damage caused due to collision between vessel will be under the HM cover and it is not an intentional act and so will come under particular average. The master of the vessel should ensure safety of his ship and take all precautions necessary which will surely mitigate the losses caused to any ship owners. The Maters duty to send a distress signal – if the vessel or person is in imminent danger Master sends distress signal requesting immediate assistance. This distress signal will be revoked as soon as the master is satisfied that assistance is no longer required. On receipt of distress signal, the masters need to proceed with full speed for the assistance of the vessel in distress. On failure to comply with this will attract penalties. Due to the collision between two ships, it will be the duty of the masters of each ship without endangering to his own ship and crew to render assistance to the other ships master and crew to save them from the danger caused by the collision. Also need to stay by the other ship until they need no further assistance. The master gives to the other ship, the name of his own ship and also the names of last port and next port. If master fails without reasonable excuse to comply with will result penalties. 2) Salvage â€Å"The Salvage operation means that any act or activities undertaken in order to assist a vessel or any other property in danger in navigable waters or in any other waters thus entitling a reward to the provide† The master of the ship has authority and power to accept the salvage offered consulting with the owner. There are two basis on which the salver agrees on the terms and conditions to save the ship or property according to circumstances. 1) daily or time contract – fixed hire rate. 2) Lloyd’s Open Form/LOF – no cure no pay basis† and the settlement will be done on the basis of the value of property saved. â€Å"The advantage of having LOF is that, it is a no cure no pay agreement and not likely disputed if any disputes which will be referred to arbitration of English law will apply to claims. There is no need to have a copy onboard and the agreement will be done over radio or other telecom methods and the form does not require signature until the salvage operations have been successfully completed. The salver will get an interim award and any excessive claims by salvers are avoided and the disadvantages of LOF is costly†Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   General Average â€Å"There is a general average act when and only when any extra ordinary sacrifice or expenditure is intentionally and reasonably made or incurred for the common safety for the purpose of preserving from peril the property involved in a common maritime adventure† Number of maritime countries laid down York Antwerp rules in order to get an uniform approach towards the settlement of general average claims. These rules are internationally recognised and are not incorporated into the national law. In the given scenario the damage caused to hull will come under particular average and which will be covered by the Hull Machinery insurance. The container ship had sailed in a seaworthy condition and later the second officer was medically evacuated and hence the vessel became unseaworthy. Now the container ship does not comply with SLOAS requirement and the other deck officers were short handed and the collision may have occurred due to fatigue caused. If the own ship has exercised due diligence then the payment for the loss will be borne by the shippers cargo insurers. The container ship had jettisoned some of the containers for safety reasons or to prevent water ingress and this sacrifice was to protect the property hence eligible for general averag e. For general average act, the shipowner appoints an average adjuster and usually declares general average HM Insurance PI Insurance There are three types of marine insurance ie Hull and Machinery, Cargo Liability – PI â€Å"HM Insurance covers hull and machinery of the insured ship against certain perils which includes peril of the sea, fire and explosion, jettison of cargo, piracy, contact with land conveyance/dock or harbour equip, accident during loading loading/discharging/shifting fuel or cargo, Earthquake, boiler bursting, breakage of drive shaft, defects of machinery barratry of master, officer and crew Etc† â€Å"P I   club are those clubs   which is a joint venture between shipping companies. It offers the ship owners the coverage against the risks which are not covered by hull and machinery insurance Hull insurance is actually the protection against the loss and damage to the vessel arising out of marine peril together with protection against the attendant liabilities of 3/4RDC, salvage and general average† â€Å"Protection and indemnity insurance is insurance protection against third party, death, injury and property claims caused by the ship together with the  ¼ collision liability not covered in the RDC clause in the hull policy† Own ship was towed to port of refuge under LOF and it is the right decision which would have saved time and money. If the salvage operation has delayed further then the condition would have worsened as the vessel is taking in water and eventually the vessel will sink resulting loss of life, property and damage to the marine environment and in situations like this there would not be time for negotiations. In the case of container ship, she suffered only minor hull damage and was not in imminent danger and thereby she will have time for negotiation among them before deciding any agreement and decision of having a daily hire agreement was good, which is cheaper and beneficial too. The owner can choose cheaper salvage operations but cases involving loss of cargo, loss of life and risk of sinking there would not much time for negotiation between various parties offering salvage operations. So the decision has to be taken at the right time. Now both vessels have been towed to port of refuge, essential formalities for an unscheduled arrival clearance should be followed. Which includes an appointment of an agent and advise him of ships ETA and requirement on arrival, request for free pratigue, inform PI club, keep all required documentations ready and the agent will do the other required formalities for inward clearance. Also all the evidence collected should be kept ready and make the vessel ready for PSC and classification society inspection. After the repairs have been completed, need to arrange class and other surveys and after the survey an interim certificate will be issued. Bibliography: 1)   College Notes 2)  Ã‚   Business and law for the shipmasters (F.N.Hopkins) 3)   Shipping Law (Chlorey Giles)

Phonics Practice Essay Example | Topics and Well Written Essays - 1500 words

Phonics Practice - Essay Example They are learning to solve and decode the mystery of stringed words. Learning phonics is the key to learning to read print. "Research directly points to the direct relationship between phonic instruction and success in acquiring the skill to read print. In short, evidence on the importance of phonics is incontrovertible." (Savage, ). The practice of phonics everyday is the key to mastery in reading fluently. This should be practiced with music, where songs based on phonics can be reinforced. A video approach is even more effective, as it stimulates the auditory as well as the visual concept. And it is easy for the child to remember and decode information both using their auditory and visual stimulus. Flashcards can also be used for further practice. "The English writing system is based on alphabetic principle: that is the individual speech sounds (called phonemes) are represented in writing by individual alphabet sounds (called graphemes). Children need to understand the alphabetic principle as they learn to read. Mastering these sound symbol relationships is what phonics is all about." (Savage, ). Phonemic awareness - the ability to recognize and manipulate sounds in spoken words is crucial to success in beginning reading. It is in-fact a better predictor of learning to read than listening ability, IQ and several other factors. Lack of phonemic awareness puts children at risk of failure to learning to read. Phonics should begin with rhyme recognition and rhyme production and continue with segmentation, isolation, deletion, substitution and blending of phonemes throughout the learning program. Emphasis should be on the five essential elements phonological awareness, phonics, fluency, comprehension and vocabulary. . (Savage ). Motivation should also be the key factor in reinforcing the concepts. Children should be exposed to a variety of folk tales, fairy tales, rhymes and stories from diverse cultures which can encourage them at their level of learning to code and decode the symbols and decipher the hidden meaning. This journey of exploration of literature should be rewarded by more challenging books, materials and rewards. (Savage ). Although phonics remains an essential factor in the word recognition, other strategies should also be taught in helping children identify words and unlock the meaning of words they encounter in print. Children use multiple clues in identifying words, including sight recognition, and context clues all these need to be integrated with the study of phonics to nurture a fluent reader. This lesson should begin from home before Kindergarten years and should be fully mastered by third grade. The appropriate level of challenge should be maintained throughout. These skills should be taught to help children become productive and fluent readers. "Through critical attention to relevant research and careful observation of children in the reading-writing process, we teachers can intelligently decide how to teach phonics. . . . I prefer to teach phonics strategically, in the meaningful context of the predictable stories children read and write every day. In the context of written language, phonics instruction facilitates meaning making and independence."-Regie Routman, 1991(Weaver, 1996) Comparative and naturalistic research indicates that encouraging children in phonics not through drill but integrated natural approach is more effective.

Accounting Cash Flow Coursework Example | Topics and Well Written Essays - 750 words

Accounting Cash Flow - Coursework Example The more cash associated with Pepsi’s depreciation means that the company had deducted from more from their assets. Further, for both 2011 and 2012, Coca Cola did not have any changes in liabilities, inventories or cash receivables, while Pepsi had all of the above. This affected Pepsi’s cash flow used in its business’ operation as compared to Coca Cola’s. Further, Coca Cola experienced more cash flows provided by adjustments in income as compared to Pepsi, which used more in the adjustment of its net income. Pepsi used 88000 (2012) and 250,000 (2011) in changes in accounts receivables while Coca Cola did not spend or received from this variable. For Pepsi the cash spent reduces from 2011 to 2012, implying that the company collected more revenues as compared to the cash collected. Further, Pepsi also experienced a decrease of the cash provided by changes in inventories from 144,000 to 4000 (2011 to 2012 respectively). This indicates more revenue as compare to cash collected by the company. For Coca Cola, there was no change recognized in its inventories and account receivables meaning the company did not experience any changes in their current assets. There could be no comparison of revenue and cash collected, which equates to management of working capital. Indifference to Pepsi, which makes use of account receivables and inventories, this implies that Coca Cola relied on other operating activities to manage its working capital. c. Analyse and explain the Financing Activities of each company in the two consecutive operating periods. State with reasons which of the two companies faces lower risk for their long-term funding policy in the most recent year. Both of the two companies witnessed the same trend throughout the two operating periods, for the cash flows used in financing activities, except for the other cash flows. For pepsi there was an increase in the money used for payment