...THE FORD PINTO CASE: THE VALUATION OF LIFE AS IT APPLIES TO THE NEGLIGENCE-EFFICIENCY ARGUMENT Christopher Leggett Law & Valuation Professor Palmiter Spring, 1999 Abstract Text of Paper Abstract The cases involving the explosion of Ford Pinto's due to a defective fuel system design led to the debate of many issues, most centering around the use by Ford of a cost-benefit analysis and the ethics surrounding its decision not to upgrade the fuel system based on this analysis. ISSUE Should a risk/benefit analysis be used in situations where a defect in design or manufacturing could lead to death or seriously bodily harm, such as in the Ford Pinto situation? RULE There are arguments both for and against such an analysis. It is an economically efficient method which has been accepted by courts for numerous years, however, juries may not always agree, so companies should take this into account. ANALYSIS Although Ford had access to a new design which would decrease the possibility of the Ford Pinto from exploding, the company chose not to implement the design, which would have cost $11 per car, even though it had done an analysis showing that the new design would result in 180 less deaths. The company defended itself on the grounds that it used the accepted risk/benefit analysis to determine if the monetary costs of making the change were greater than the societal benefit. Based on the numbers Ford used, the cost would have been $137 million versus the $49.5 million...
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...Optional Question 1: Scenario (Facts of the case) You are employed as a legal executive in a firm of solicitors. A client (Mr Ben) has come and seeking advice on several claims and legal issues, which have recently arisen. You are required to write a legal report for the following claims: Alan is a qualified accountant and his father Ben, who owns a small business, a bookshop which specialises in acquiring and selling rare books. He recently saw an advertisement in a specialist book magazine for a first edition copy of the only book written by Bruce. The advertisement, which had been placed by Chris, stated that it was ‘on offer for $1,000. Ben phoned Chris stating that he would buy the book for $750. Chris replied that he would sell it for $900. Ben then said he would need time to think about buying the book at that price. Chris agreed not to sell the book to anyone else until Ben phoned him back in three days time with his final decision. On the same day, Dan came into Ben’s shop and asked if he had any first edition copies of the Bruce book and told him that he was willing to pay $1,500 for one. Ben agreed to sell a Bruce first edition to Dan and immediately phoned Chris to say that he would accept his original asking price of $1,000. However, Chris informed him that he had already sold the book to Eve for $1,250. Subsequently, Ben wrote to Eve offering her another rare book for $1,000. Eve replied to Ben by return of post stating that she agreed to buy...
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...10 $ including GST the driver’s handbook In this book: • your road safety responsibilities • the road rules • drivers and licensing • vehicles and registration • fitness to drive self assessment. The information contained within this handbook has been prepared to help you become better informed about road safety, road rules, drivers and licensing and vehicle registration. It should not be taken as a precise interpretation of the law. It does not set out to be complete or a substitute for the legislation made by Parliament. Recent changes in laws may not be reflected in this publication. The Driver’s Handbook can be downloaded from mylicence.sa.gov.au If you require further information, please call 13 10 84 between 8am and 6pm Monday to Friday. Information on the relevant South Australian legislation may be obtained from the following web site: www.legislation.sa.gov.au references • The Driving Companion (for Learner Drivers) • Australian Road Rules • Road Traffic Act (1961) and Regulations • Motor Vehicles Act (1959) and Regulations Department for Transport, Energy and Infrastructure. This work is copyright. No part may be reproduced by any process without prior written permission from the Department. First published in Australia 2000. MR200 September 2010. W E L C O M E Welcome to the Driver’s Handbook which is designed to support all road users and contains essential information and useful tips. ...
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...Crime, Corruption and Cover-ups in the Chicago Police Department Anti-Corruption Report Number 7 January 17, 2013 Authored by: John Hagedorn Bart Kmiecik Dick Simpson Thomas J. Gradel Melissa Mouritsen Zmuda David Sterrett With Ivana Savic Justin Escamilla Magdalena Waluszko Dalibor Jurisic Tricia Chebat Published by University of Illinois at Chicago Department of Political Science 1 The Chicago Police Department has a legacy of both heroism and corruption. On the one hand, the department’s officers risk their lives on a daily basis to enforce the law, protect the public and preserve the peace. On the other hand, Chicago has a checkered history of police scandals and an embarrassingly long list of police officers who have crossed the line to engage in brutality, corruption and criminal activity. An analysis of five decades of news reports reveals that since 1960, a total of 295 Chicago Police officers have been convicted of serious crimes, such as drug dealing, beatings of civilians, destroying evidence, protecting mobsters, theft and murder. Moreover, the listing of police convicted of crimes undoubtedly underestimates the problem of corruption in the Chicago Police Department (CPD). The list does not include undetected and unreported illegal activity, serious misconduct resulting in internal disciplinary action, and officers who retire rather than face charges. Our analysis of police corruption in Chicago yields four major findings. First, corruption has long persisted...
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...California Law Review Volume 57 | Issue 1 Article 1 January 1969 The Legal Roles of Shareholders and Management in Modern Corporate Decisionmaking Melvin Aaron Eisenberg Follow this and additional works at: http://scholarship.law.berkeley.edu/californialawreview Recommended Citation Melvin Aaron Eisenberg, The Legal Roles of Shareholders and Management in Modern Corporate Decisionmaking, 57 Cal. L. Rev. 1 (1969). Available at: http://scholarship.law.berkeley.edu/californialawreview/vol57/iss1/1 This Article is brought to you for free and open access by the California Law Review at Berkeley Law Scholarship Repository. It has been accepted for inclusion in California Law Review by an authorized administrator of Berkeley Law Scholarship Repository. For more information, please contact jcera@law.berkeley.edu. California Law Review VOL. 57 JANUARY 1969 Copyright © 1969 by California Law Review, Inc. No. 1 The Legal Roles of Shareholders and Management in Modern Corporate Decisionmaking Melvin Aron Lisenberg* TABLE OF CONTENTS I A GENERAL THEORY ...... A. ... ............... 4 A NORMATIVE MODEL OF'VOTING RIGHTS IN PRIVATELY HELD CORPORATIONS ....... ................ A NORMATIVE MODEL OF VOTING RIGHTS IN PUBLICLY HELD ................ CORPORATIONS ....... 7 15 B. . ........ 1. Considerations of Public Policy .. (a) "Shareholder democracy ". . .. ........ ... . ......... (b) Client-group participation .. (c) Managerialism .......
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...Strategic Analysis Report Flux Consulting – Airline Division Queensland University of Technology MGB309 – Strategic Management Pei San Chew – 0 8000492 Tutor: Christophe Garonne (Tutorial 8) Word Count: 2160 1.0 Executive Summary The air transportation industry within Australia is highly competitive. However, there is solid evidence and a strong indication that Virgin Australia can seize power over the current market and outrun its competitors for its long-term survival. Virgin Australia should optimise opportunities and remain competitive by either strengthening its alliance with SIA or outsourcing to a specialist company in ground handling. The key challenge for the company is to create strategies that ensures effectiveness. The strategies will draw upon previous internal and external analysis conducted and focus on developing strategic alliances and strategic outsourcing. This report analyses the benefits and limitations of these potential strategies and provides practical recommendations to ensure long-term strategic sustainability. The results of the evaluation between the two strategies illustrate that the first strategy is more appropriate for Virgin to be sustainable in the long-term. There are several advantages that Virgin possesses which includes its strategic alliance’s strong position in the Asian market, and its ability to integrate newly planned flight routes. This means that Virgin is able to benefit from the strengths of its alliance. Moreover...
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...regulations of the U.S. Copyright Office. TITLE OF REPORT IDENTIFICATION OF POSSIBLE HUMAN ERRORS THAT CAN RESULT IN FIRES/EXPLOSIONS DURING TANKERS' CARGO LOADING/UNLOADING OPERATIONS AT THE XYZ MARINE PETROLEUM TERMINAL SIGNATURE __________________________________DATE ________ PERMANENT ADDRESS 2721 Harvey Dr. Apartment #1. Menomonie, WI 54751, USA TELEPHONE # 715-235-4730 (This section to be completed by the graduate School) This final research report was submitted in partial fulfillment of the requirements for the above stated degree on this date, and has been accepted by the Graduate School and is now ready for transmittal to the Library Learning Center for placement on microform or other storage media. (Coordinator for Graduate Studies) (Date) (This form must accompany the research paper turned in to the Graduate School) IDENTIFICATION OF POSSIBLE HUMAN ERRORS THAT CAN RESULT IN FIRES/EXPLOSIONS DURING TANKERS' CARGO LOADING/UNLOADING OPERATIONS AT THE XYZ MARINE PETROLEUM TERMINAL. by Guillermo A. Triana Cedeno A Research Paper Submitted in Partial Fulfillment of...
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...Assignment Title: Plan and Co-ordinate Vehicle Maintenance Unit Number: 5 Date: 01-05-2015 Hand in Date: 27-02-2015 Course Title Edexcel BTEC Level 4 HNC Diploma in Automotive Diagnostics and Management Principles (QCF) Student Name: Joshua Belk Student Number: 08007062 Index LO1 1.1 Page 3 LO1 1.2 Page 4 LO1 1.3 Page 5 LO2 2.1 Page 5 - 6 LO2 2.2 Page 6 LO3 3.1 Page 7 LO3 3.2 Page 8 LO4 4.1,4.2&4.3 Page 9 - 10 Appendix Page 11 – 12 Bibliography Page 13 I have been offered the chance to start up my own lease company, this company will be leasing vehicles to both large and small businesses....
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...impact of new structures and roles on the HR function, on the implications for skills and development of HR staff, and on the relationships with line managers. We will also look at how HR has measured its performance against this background. The result of this exercise will be to throw up a number of unanswered questions that will form the basis for the next phases of research. Phase one For this segment of the project we have undertaken two main pieces of work: we have explored the literature around the shape, structure and activity of the function, and we have spoken to a number of key practitioners and academics: • Chris Brewster, Professor of International HR, The CIPD research The CIPD has commissioned a major two-year research study, the main objective of which is to explore how HR functions and professionals can best be organised to make the most of high performance within...
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...Illinois is a leader in highway safety. Over the last decade, this state has produced Illinois Rules of the Road 2013 some of the toughest highway safety laws in the nation. As the leading traffic safety advocate for the state, my office has led the charge against drunk and distracted drivers. Illinois also has adopted some of the toughest driver’s license standards for teen drivers. My office has also adopted policies that have allowed the driving public to more easily access Secretary of State services. Hundreds of thousands of drivers and registered vehicle owners have utilized services on my office’s website at www.cyberdriveillinois.com to renew their driver’s license and license plates, register their information in the Emergency Contact Database or to join the Organ/ Tissue Donor Registry. As Secretary of State, I continue to maintain the highest standards when it comes to traffic safety and public service in Illinois. Jesse White Secretary of State Table of Contents Chapter 1: Illinois Driver’s License ................................................................................2 Chapter 2: Driver’s License Exams ..............................................................................11 Chapter 3: Drivers Under Age 21 (GDL) ......................................................................14 Chapter 4: Traffic Laws................................................................................................19 Chapter 5: Sharing the Road...
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...DEPARTMENT OF INSURANCE & ACTUARIAL SCIENCE STRATEGIC MANAGEMENT: AN INDISPENSABLE APPARATUS TO CREATE SUSTAINABLE COMPETITIVE ADVANTAGE IN THE VOLATILE ZIMBABWEAN SHORT-TERM INSURANCE MARKET? By HENSLEY MADAMOMBE N010 7541D SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENTS OF THE B.COM (HONOURS) DEGREE IN RISK MANAGEMENT AND INSURANCE SUPERVISOR: MR A. NYANHETE MAY 2014 Dedication To my family You have been my source of inspiration and hard work. You sacrificed everything that you had for the sake of my education. From you, I have learnt that: ‘it is only through a disciplined mind that success can only be achieved’. I will always love and cherish you. And, to the late Mr Paul Malaba (Former Chairman of the Insurance and Actuarial Science Department at NUST) You have gone too soon dear Sir, but your immense contributions to the academic fraternity will forever be cherished. You were an inspiration and a father-figure to all of us. The Q.A.B courses at NUST will never be the same without you. i Acknowledgements First and foremost, I would like to give honor, praise and glory to the almighty lord for his unending mercy, protection and unconditional love: “I will praise thee, O Lord my God, with all my heart; and I will glorify thy name for evermore” (Psalms 86:12, King James Version). I would also like to thank my parents, Mr. and Mrs. Madamombe, for their parental advice, financial support, guidance and endless love. Dear father and mother: ‘you are my fountain of...
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...Shareholder Derivative Litigation Franklin A. Gevurtz* TABLE OF CONTENTS I. INTRODUCTION .................................................................................................. II. CITIGROUP AS A CASE STUDY IN EXCESSIVE RISK-TAKING .............................. III. TOOLS FOR CURBING EXCESSIVE RISK-TAKING AND THE ROLE OF CORPORATE LAW ............................................................................................... A. The Tools for Curbing Excessive Risk-taking ............................................. 1. Regulation of Business Activities .......................................................... 2. Capital Requirements ........................................................................... 3. Compensation Rules ............................................................................. 4. Liability for Unreasonable Risks .......................................................... 5. Selection of Management (Rules of Corporate Governance) ............... B. Dividing the Tools Between Banking and Corporate Law .......................... IV. WHY IT MATTERS: CITIGROUP AS AN ILLUSTRATION OF THE LIMITATIONS OF STATE CORPORATE LAW ........................................................ A. Citigroup As a Case Study In Weak Corporate Law................................... 1. Overview ............................................................................................... 2. The Standard....................................
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...Fishing Community The fisheries sector plays an important role in food consumption, nutrition, employment and export. The sector contributes more than 5% of Bangladesh's GDP and 9% of its export earnings and it employs 1.4 million people. From time immemorial, a large number of Bengali people have depended for their livelihood on fishing and related occupations. Fishermen in rural Bangladesh usually live a community life in neighbourhoods or villages around the water bodies. They cooperate closely with one another not only in fishing, or in the cooperative utilisation of fishing grounds, but also in economic activities, such as marketing and purchasing, and in social life and family affairs. They have lived communally for many generations, creating in the process their own history, distinct traditions, and patterns of daily life. Traditionally, fishermen have been Hindus. After analysing the report on the CENSUS of 1872, WW HUNTER had concluded that Muslims clung closer to the land and did not follow any trade in sowing or harvesting seasons to supplement their income. But like Hindus, they worked as fishermen, boatmen, or house builders during seasons when their labour in the field was not required. For Hindus, fishing has a traditional link with the caste system and is hereditary. Hindu fishermen believe their occupation to be sacred, although in the cast hierarchy, the fishermen are ranked the lowest of all occupational groups. But fishing is hardly a hereditary or a sacred...
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...Identifying and Analysing Underlying Problems of Shipbuilding Industries in Bangladesh 147 IDENTIFYING AND ANALYSING UNDERLYING PROBLEMS OF SHIPBUILDING INDUSTRIES IN BANGLADESH K. Shahriar Iqbal*, N. M. Golam Zakaria and Kh. Akhter Hossain Department of Naval Architecture and Marine Engineering, Bangladesh University of Engineering and Technology, Dhaka-100, Bangladesh *Corresponding email: iqbal.shahriar@gmail.com Abstract: Shipbuilding is considered to be a thrust sector in the economy of Bangladesh. But various problems are there to obstruct the development of this sector. This paper is aimed to identify the underlying problems and then analyze the nature of the problems to make it helpful overcoming the obstacles. A brief history and prospect of the shipbuilding industries in Bangladesh in the perspective of global scenario is also discussed. Key Words: Problem identification, shipbuilding industry, Shipyards. INTRODUCTION Bangladesh is a maritime nation with 1,66,000 sq. km area of sea, abundance with living and nonliving resources1. There are more than 200 rivers all around the country, with a total length of about 22,155 km, which occupy about 11% of total area of the country. Here rivers and water transports play a vital role for economical and commercial activities in Bangladesh. Major export and import of Bangladesh (about 85%) is also traveled by sea2. At present more than 5,000 inland/coastal ships have been plying all over the country, which carry more than...
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...Identifying and Analysing Underlying Problems of Shipbuilding Industries in Bangladesh Journal of Mechanical Engineering, Vol. ME 41, No. 2, December 2010 Transaction of the Mech. Eng. Div., The Institution of Engineers, Bangladesh 147 IDENTIFYING AND ANALYSING UNDERLYING PROBLEMS OF SHIPBUILDING INDUSTRIES IN BANGLADESH K. Shahriar Iqbal*, N. M. Golam Zakaria and Kh. Akhter Hossain Department of Naval Architecture and Marine Engineering, Bangladesh University of Engineering and Technology, Dhaka-100, Bangladesh *Corresponding email: iqbal.shahriar@gmail.com Abstract: Shipbuilding is considered to be a thrust sector in the economy of Bangladesh. But various problems are there to obstruct the development of this sector. This paper is aimed to identify the underlying problems and then analyze the nature of the problems to make it helpful overcoming the obstacles. A brief history and prospect of the shipbuilding industries in Bangladesh in the perspective of global scenario is also discussed. Key Words: Problem identification, shipbuilding industry, Shipyards. INTRODUCTION Bangladesh is a maritime nation with 1,66,000 sq. km area of sea, abundance with living and nonliving resources1. There are more than 200 rivers all around the country, with a total length of about 22,155 km, which occupy about 11% of total area of the country. Here rivers and water transports play a vital role for economical and commercial activities in Bangladesh. Major export and import...
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