...English 1520 16 May 2013 American Education In the article “American the Illiterate” by Chris Hedges he argues about the growing concern on the American people. In the argument he states that Americans everyday are less and less dependent on their ability to read and write. He explains how society over all is more dependent on image based information. In his first couple of paragraphs he describes this growing epidemic. How literacy affects us as a country and as a nation over all. He brings evidence and proof about his argument from various different creditable sources. He explains that illiteracy is such a minor priority to most Americans that doing things like their taxes or electing a new president doesn’t require them to be experts in illiteracy. Bringing in emotional story and a good slogan with words like pro-life, hope, maverick, war on terror. The American people are easily manipulated and are reeled in to the fight between truth and lies. He explains that America is so blind when it comes to signing a contract, policy agreement, or a legal document. Most if not all the time they barley even start reading. It’s hard to admit but at the end even I agree with Hedges logic. Every time I download a new software or log into my bank account never have I set there and read the agreement start to end. Just the other day I was reading the fine print in my insurance contract and I was amazed at some of the things that we assume are covered like roadside assistance. I always...
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...After watching the assigned video, I found Mr. Hedges to be very thought provoking in his deliverance that the well sought after American dream is ending. Chris Hedges’ stance is that our county has transformed into a corporate America and governs its own citizens through a prominent illusion. Although his point of views came across as negative, his predictions are likely inevitable. In the beginning of Allan Gregg’s interview, Hedges uses television and wrestling as an example of how the storylines serve as reflections on the outlook of our society, and exposes how it feeds our fascination for spectacle. We crave the shallow and materialistic aspects of these types of tv programs. Perhaps the most vulnerable are the youths of today. For example, I have younger siblings who are practically glued to the television screen every time these programs are on, enticed in the drama and action with no realization that they are often scripted. Reality television is also another example of how badly our culture is detached from “reality”. These shows have been around for quite some time but only seem to be popular in the recent years. Our generation has come to believe that fame is the ultimate achievement that one can accomplish. Instead of living their lives people are more concerned with the every day drama of another person. With shows like the ‘Bachelor’, we can watch clingy women sob their way off the show, after being rejected by a guy they’ve not even spent an hour with. As a...
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...If given the choice to be yourself and never succeed in life or to be a made up persona in order to succeed, many would choose success over genuinity. Some of the most politically accomplished men and women can be appropriately accused of such choice. Chris Hedges, author of the Empire of Illusion, sites “The most essential skill in political theater and a consumer culture is artifice. Political leaders, who use the tools of mass propaganda to create a sense of faux intimacy with citizens, no longer need to be competent, sincere or honest. They only need to appear to have these qualities. ” I agree with Chris Hedges’ claims . When reflecting on past presidential candidates of America’s election, Bill Clinton, Donald Trump, and Hillary Clinton...
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...Imitation: His placement in that seat is so constant that it is clear to us he is addicted to it. He must leave the dining room. He must shut down his computer. He must connect with those around him. It is only interaction with his us, his roommates, that will save him. It is only us that socialize with him whenever. And it is us that will sustain him through conversation as college and job interviews increasingly dominate his future. I knew quickly that I was going to choose from this reading for my imitation because of the strong language, ideas, and examples that the author uses throughout the article. The author, Chris Hedges, quickly escalates from NASCAR to Nazi Germany in a few short pages. More specifically, in the passage that...
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...Chris Hedges. “The Future of Global Capitalism”. The Munk Debates. May 22, 2015. In this interview, Chris Hedges is discussing the future for global capitalism, as he sees it. As he sees it, global capitalism is failing to engage the imaginations of the poor, and working class people because it continues to fail at helping them. The ideas of trickledown economics are just so contrary to the reality, that a small group of elites has been able to concentrate huge amounts of wealth, that people have had enough. Movements like Occupy Wall Street and Black Lives Matter are a response to this. As the state moves further away from the social welfare, people are pushed to take radical stances. Hedges predicts that if corporate power continues to dominate political institutions, and continues to...
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...mary: A Metaphor for America is a report on the downward spiral of Scranton, Pennsylvania; a post industrial American city. The author, Chris Hedges uses Scranton as a metaphor for the destruction that will happen to the American economy, government, and people. What was once a booming industrial city, that employed over a thousand people in its Lace company is now a bankrupt. Since management would much rather pay a factory in Bangladesh 25 cents and hour compare to the $20 it paid the Scranton residents. In turn this broke up the stable social structure that the city had once set up, including labour unions, and other social programs that allowed the citizens of the city to lead a comfortable life. Instead they are living paycheck to paycheck...
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...* Posted on: Wednesday, March 13, 2013 Apache Questions 1. What risks does Apache face? Do they differ by country of property type? Do the risks of the major integrated oil companies differ from those faced by Apache or other independents? How does Apache’s operating strategy affect its risk exposures? 2. What is Apache doing now to manage risk? What risks are they attempting to hedge? What are its competitors doing? 3. What are the potential hazards Apache faces if it manages risk? 4. As a member of Apache’s board, how would you recommend they proceed? If they decide to manage risk, what steps should they take? Which risks should they shed? Which risks should they retain/keep? Should they manage some types of risks but not others? Some types of investment decisions but not others? How should FAS 133 affect their strategy? Case Study Questions Each team is required to address the four questions posted above. You should view your case report as a report to senior management or the board of directors. It is to provide the decision makers with all relevant information of a particular case and your policy recommendation, using the assigned questions as a guide. There is no formal size limit for a case report, but you should keep in mind that conciseness and clarity make reports more convincing and will be rewarded accordingly. In particular, a summary of the facts from the case should not include the facts that are not relevant to your analysis...
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...other derivative instruments allow speculators to take positions in an asset with much less capital than would be required to achieve the same position in the cash market. Speculators add liquidity to the derivatives markets. Hedgers want to eliminate or reduce an exposure to movements in the price of an asset. Forward contracts, say, allow hedgers to reduce their exposure or eliminate it without an initial payment. Hedging using forwards or futures makes the outcome more certain but does not necessarily make it better relative to the unhedged position. Option strategies allow hedgers to insure (upside benefits only — for a premium) their positions against adverse market movements for the payment of an up-front premium. Hedger: A hedge is a position taken in order to offset the risk associated with some other position. A hedger is someone who faces risk associated with price movement of an asset and who uses derivatives as a means of reducing that risk. A hedger is a trader who enters the futures market to reduce a pre-existing risk. Speculators: While hedgers are interested in reducing or eliminating risk, speculators buy and sell derivatives to make profit and not to reduce risk. Speculators willingly take increased risks. Speculators wish to take a position in the market by betting on the future price movements of an asset. Futures and options contracts can increase both the potential gains and losses in a speculative venture. Speculators are important to derivatives...
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...1.) Explain how futures contracts could be used to hedge a bond portfolio against the risk of rising interest rates. Then explain how futures could be used by exporters and by importers to hedge against their foreign-exchange exposures. Someone with a large bond oprtfolio may want to hedge against future interest rate movements. When interest rates rise, bond prices decline. The use of futures can be used to hedge against the likelihood of rising interest rates. When the hedging is balanced, the gains/losses in the cash holdings will be offset by gains/losses in futures account. Hedging bond portfolios with futures contracts, will be done by holding short positions. Futures could be used to establish an offsetting currency position so that whatever is lost or gained on the original currency exposure is exactly offset corresponding foreign exchange gain or loss on the currency hedge. Regardless of what happens to the future exchange rate, therefore, hedging locks in a dollar value for the currency exposure. In this way, hedging can protect a firm from foreign exchange risk, which is the risk of valuation changes resulting from unforeseen currency movements. 2.) Explain how the manager of a bond portfolio could use options to hedge against the risk of rising interest rates. Then explain how exporters and importers could use options to hedge against their foreign-exchange exposures. 3.) Assume that Baker Adhesives, sold 2.6 million Brazilian reals of adhesives to...
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...JetBlue and Westjet: A Tale of Two IS Projects Week 8 Checkpoint Case Study Questions By: Cicely Sawin 3/21/2014 IT/205 Catherine Williams Over the past years, customers have been heavily relying on airline reservation systems to book their tickets, reserve seats, pay for the tickets and also check-in online. For customers, this has been a very convenient method and they are able to easily plan their trips. For the Airline companies, these systems have the whole flight inventory managed. They have all the flight information stored and records are maintained. It also provides a platform for communication between other airline companies for their “code-sharing plans” and agents or other ticketing offices can see real time information about the bookings and availability of seats. Since both parties rely on these systems they are of big importance to airline companies. For example, we see in the case of WestJet, the amount of chaos created after a delay of switch to another version of the system. Airline reservation systems have impacted operational activities and decision making. They have made it easier to maintain accounts with other airlines and internal processes between departments are more efficient since the “minus, plus” is done online. There has also been growth in faster service times which leads to increased customer satisfaction since customers can plan, book and pay online. Airline companies are able to make good strategic...
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...Industry Analysis of the Airline Industry S.no | Features | Rating | 1. | Threat of new entrant | Medium | 2. | Rivalry among existing firms | High | 3. | Bargaining power of buyer/distributors | Low | 4. | Bargaining power of suppliers | Low | 5. | Relative power of other stakeholders | High | The Airline success completely depends on the ability of the customers who are willing to spend more on last airfares to purchase extra amenities. It is famous because it focuses on time performance. It provides extra comfort from one coast to another and provides inflight Wi-Fi, ARINC satellite telephone and power outlets. It provides an international premium cabin dining facility with beverage selection and special ordered meals. Passengers can use portable devices on board. They only accept credit and debit cards for purchases of tickets and offer inflight shopping facility also. A strong employee- oriented culture is being followed by the company. The mission of the company focuses on this statement only. They have loyal employees that work hard to achieve the goal of the company. A strong leadership is built by the culture which the company is following a relaxed management style. The aim of the industries management and the employees is to fly large number of customers and being cost-effective. They are famous for their non-stop flights. The industry is experiencing strong growth in the market and is earning at a very profitable position (David, 2005)...
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...Donivan Tan Part A - Cash Flow Hedge of Foreign Currency Receivable 11/1/Y1 Accounts receivable (Pesos) [400,000 x $0.23] $92,000 Sales $92,000 No journal entry for the forward contract. Memo entry. 12/31/Y1 Foreign exchange loss $12,000 Accounts receivable (pesos) [400,000 x ($0.23-$0.20)] $12,000 Forward contract [400,000 x ($0.22-$0.18)] x .9610 $15,376 AOCI $15,376 AOCI $12,000 Gain on forward contract $12,000 Premium Expense [($0.22-$0.23) x 400,000]/3 $1,333.33 AOCI $1,333.33 Impact on Year 1 income: Foreign exchange loss (12,000.00) Gain on forward contract 12,000.00 Premium Expense (1,333.33) Impact on net income (1,333.33) 4/30/Y2 Cash – Foreign currency (pesos) (400,000 x $0.19) $76,000 Foreign exchange currency loss $4,000 Accounts receivable (pesos) [20,000 x ($1.12-$1.05)] $80,000 AOCI [400,000 x ($0.22-$0.19) = $12,000 – $15,376] $3,376 Forward contract $3,376 AOCI $4,000 Gain on forward contract $4,000 Premium Expense [($0.22-$0.23) x 400,000] x 2/3 $2,666.67 AOCI $2,666.67 Cash USD [400,000 x $0.22] $88,000 Forward contract $12,000 Cash - Foreign currency (pesos) $76,000 The impact on net income for Year 2 is: Foreign Exchange Loss $(4,000.00) Gain on Forward Contract $ 4,000.00 Premium Expense (2,666.67) Impact on net income (2,666.67) Notes: ...
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...“N” Day Breakout Model on Commodity Market: An Empirical Investigation Zhenyi Yang 12/12/2012 1. Introduction There are various strategies to make profits on the commodity markets. The “N” day breakout model is one of the easiest model. However, it is a very effective model and used by many traders. The article uses the “N” day breakout model, combined with the “fixed fractional” risk management scheme, to study the return of the commodity market. The article also compares the different outcomes with different data manipulation method and the potential reasons behind the difference. 2. The “N” Day Break Out Model The N day break out model utilizes the method that the futures are longed at N day high and shorted at M day low. The rational explanation of the method is that the futures usually continue to rise after a breakout its long-term high. Also, the futures continue to fall after it breaks its short-term low. To simplify the problem, in this article, it chooses the 100 day high as the buying point and the 10 day low as the selling point. The period of study ranges from Dec 2002 to Dec 2012. Moreover, the article also studies the maximum profit one million account balance would make with this strategy with each commodity does not exceed 1% risk. 3. Data Manipulation Because the commodity future expires after one or two years, for a longer period time, the charts of different futures contracts needs to be connected. Some methods are continuous, which...
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...What is the difference between forward and futures contracts? Fundamentally, forward and futures contracts have the same function: both types of contracts allow people to buy or sell a specific type of asset at a specific time at a given price. However, it is in the specific details that these contracts differ. First of all, futures contracts are exchangetraded and, therefore, are standardized contracts. Forward contracts, on the other hand, are private agreements between two parties and are not as rigid in their stated terms and conditions. Because forward contracts are private agreements, there is always a chance that a party may default on its side of the agreement. Futures contracts have clearing houses that guarantee the transactions, which drastically lowers the probability of default to almost never. Secondly, the specific details concerning settlement and delivery are quite distinct. For forward contracts, settlement of the contract occurs at the end of the contract. Futures contracts are marked-to-market daily, which means that daily changes are settled day by day until the end of the contract. Furthermore, settlement for futures contracts can occur over a range of dates. Forward contracts, on the other hand, only possess one settlement date. Lastly, because futures contracts are quite frequently employed by speculators, who bet on the direction in which an asset's price will move, they are usually closed out prior to maturity and delivery usually never happens. On the...
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...680% D. Assume the firm actually takes 80 days to pay its bills and would continue to do so in the future if it did not take the cash discount. Should it take the cash discount? 1.5% / 98.5% * 360 / 70 1.52% * 5.14 = 7.813% E. Because the interest rate on the loans is floating, it can go up as interest rates go up. Assume that the prime rate goes up by 2 percent and the quoted rate on the loan goes up the same amount. What would then be the effective rate on the loan with compensating balances? Convert the interest to dollars as the first step in your calculation. $500,000 * 10.25% = $51,250 Interest Effective rate is $51,250 / 400,000 = 12.813% F. In order to hedge against the possible rate increase described in part e,Midland decides to hedge its position in the futures market. Assume...
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