...LVMH: King of the Luxury Jungle SEPTEMBER 2009 Profit from temporary W&S woes to bag the stock at discount prices LVMH is the strongest player in the luxury goods industry, a giant in an industry where fixed costs make scale paramount; the only "two-legged" balanced player, leading with mega-brands in both Leather Goods and Wines & Spirits; enjoying stable group EBIT margins as a consequence Champagne consumer demand weakness, de-stocking and oversupply in 2010 are well understood; W&S concerns have depressed the stock close to 20-year trough multiples and in the same range of smaller and more volatile hard luxury players and other peers; an opportunity in our view On top of LVMH's unrivaled industry position, markets seem to under-appreciate cost-saving opportunities, brand-portfolio rationalization, higher FCF from lower W&S inventory investment, above-average mega-brands' results or support from first-mover EM inroads In a medium-term growth environment, LVMH has the chance to be a key consolidator in the luxury goods industry: a mega-merger with CFR would be a strategic master stroke, placing it ahead of any M&A counter move by competitors SEE DISCLOSURE APPENDIX OF THIS REPORT FOR IMPORTANT DISCLOSURES AND ANALYST CERTIFICATIONS LVMH: KING OF THE LUXURY JUNGLE 1 Portfolio Manager's Summary We have few doubts about the opportunity of investing in LVMH for the medium to long term. We expect "winners will continue to win" in the luxury industry...
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...Syntax AP English Language and Composition What is syntax? SYNTAX The term syntax refers not only to the structure of sentences, their types, their uses, their connection, and the variations authors choose, but also to smaller structures within sentences. Phrases (any group of words) and clauses (groups of words that contain a subject and a verb) are also syntactic elements that require a reader’s attention. Syntax affects the pace of a piece. • Short, clipped phrases, sentences and clauses tend to create a feeling of quickness, decisiveness, and speed to a piece. It is important to be aware of the content of a piece and look for connections to syntax. Pay attention to how pacing relates to the action and purpose of a particular piece. • Long, convoluted sentences, especially with subordinate clauses at the beginning tend to slow the pace of a piece. Often they are connected to a contemplative section, a heavy or serious subject and the writer wants to emphasize it. Sometimes, however, they are placed in a piece for the purpose of demonstrating the ramblings of a character, the ludicrousness of an idea, or the ridiculousness of a situation. Watch for occasional satire or irony in these long sentences. Key Questions: • How does syntax contribute to and enhance the meaning and effect of language? • How does syntax contribute to tone? 1. “Syntax” refers to the ways words and phrases are arranged to form sentences. The reader must identify...
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...www.it-ebooks.info Python Network Programming Cookbook Over 70 detailed recipes to develop practical solutions for a wide range of real-world network programming tasks Dr. M. O. Faruque Sarker BIRMINGHAM - MUMBAI www.it-ebooks.info Python Network Programming Cookbook Copyright © 2014 Packt Publishing All rights reserved. No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, without the prior written permission of the publisher, except in the case of brief quotations embedded in critical articles or reviews. Every effort has been made in the preparation of this book to ensure the accuracy of the information presented. However, the information contained in this book is sold without warranty, either express or implied. Neither the author, nor Packt Publishing, and its dealers and distributors will be held liable for any damages caused or alleged to be caused directly or indirectly by this book. Packt Publishing has endeavored to provide trademark information about all of the companies and products mentioned in this book by the appropriate use of capitals. However, Packt Publishing cannot guarantee the accuracy of this information. First published: March 2014 Production Reference: 1190314 Published by Packt Publishing Ltd. Livery Place 35 Livery Street Birmingham B3 2PB, UK. ISBN 978-1-84951-346-3 www.packtpub.com Cover Image by Gabrielay La Pintura (linaza100@hotmail...
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... and the two become friends. The pilot learns that the little prince comes from a small planet that the little prince calls Asteroid 325 but that people on Earth call Asteroid B-612. The little prince took great care of this planet, preventing any bad seeds from growing and making sure it was never overrun by baobab trees. One day, a mysterious rose sprouted on the planet and the little prince fell in love with it. But when he caught the rose in a lie one day, he decided that he could not trust her anymore. He grew lonely and decided to leave. Despite a last-minute reconciliation with the rose, the prince set out to explore other planets and cure his loneliness. While journeying, the narrator tells us, the little prince passes by neighboring asteroids and encounters for the first time the strange, narrow-minded world of grown-ups. On the first six planets the little prince visits, he meets a king, a vain man, a drunkard, a businessman, a lamplighter, and a geographer, all of whom live alone and are overly consumed by their chosen occupations. Such strange behavior both amuses and perturbs the little prince. He does not understand their need to order people around, to be admired, and to own everything. With the exception of the lamplighter, whose dogged faithfulness he admires, the little prince does not think much of the adults he visits, and he does not learn anything useful. However, he learns from the geographer that flowers do not last forever, and he begins to miss the rose...
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...Key Facts full title · The Little Prince (in French, Le Petit Prince) author · Antoine de Saint-Exupéry type of work · Children’s story, novella genre · Fable, allegory language · French time and place written · The summer and fall of 1942, while Saint-Exupéry was living in Long Island, New York date of first publication · First published in English translation in 1943. The first French edition did not appear until 1946. publisher · Reynal & Hitchcock, Harcourt Brace Jovanovich, Inc. (U.S. edition, both French and English); Gallimard (French edition) narrator · A pilot who crashes in the Sahara desert, where he meets the little prince. The narrator tells his story of the encounter six years after it happened. point of view · The narrator gives a first-person account, although he spends large portions of the story recounting the little prince’s own story of his travels. tone · When describing his surreal, poignant encounter with the little prince, the narrator’s tone is bittersweet. When describing the adult world, the narrator’s tone is matter-of-fact and often regretful. tense · Past settings (time) · “Six years ago,” although the current date is never specified settings (place) · The Sahara Desert and outer space protagonists · The little prince, the pilot major conflict · The childlike perspectives of the prince and, to some extent, those of the narrator are in conflict with the stifling beliefs of the adult world. rising action · After he...
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...version of BookRags' A Passage to India Premium Study Guide, including complete copyright information, please visit: http://www.bookrags.com/studyguide−passageindia/ Copyright Information ©2000−2007 BookRags, Inc. ALL RIGHTS RESERVED. The following sections of this BookRags Premium Study Guide is offprint from Gale's For Students Series: Presenting Analysis, Context, and Criticism on Commonly Studied Works: Introduction, Author Biography, Plot Summary, Characters, Themes, Style, Historical Context, Critical Overview, Criticism and Critical Essays, Media Adaptations, Topics for Further Study, Compare &Contrast, What Do I Read Next?, For Further Study, and Sources. ©1998−2002; ©2002 by Gale. Gale is an imprint of The Gale Group, Inc., a division of Thomson Learning, Inc. Gale and Design® and Thomson Learning are trademarks used herein under license. The following sections, if they exist, are offprint from Beacham's Encyclopedia of Popular Fiction: "Social Concerns", "Thematic Overview", "Techniques", "Literary Precedents", "Key Questions", "Related Titles", "Adaptations", "Related Web Sites". © 1994−2005, by Walton Beacham. The following sections, if they exist, are offprint from Beacham's Guide to Literature for Young Adults: "About the Author", "Overview", "Setting", "Literary Qualities", "Social Sensitivity", "Topics for Discussion", "Ideas for Reports and Papers". © 1994−2005, by Walton Beacham. All other sections in this Literature Study Guide are owned and copywritten by BookRags...
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...TPO TPO Applied Arts and Fine Arts..............................................................................................................2 Opportunists and Competitors......................................................................................................3 Lascaux Cave Paintings ...................................................................................................................4 Electricity from Wind......................................................................................................................5 Meteorite Impact and Dinosaur Extinction ..................................................................................6 Groundwater ...................................................................................................................................7 The Origins of Theater....................................................................................................................8 Timberline Vegetation on Mountains ...........................................................................................9 Architecture....................................................................................................................................10 The Origin of the Pacific Island People .......................................................................................17 The Geologic History of the Mediterranean ..............................................................................22 Ancient...
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...Journal of Postcolonial Writing ISSN: 1744-9855 (Print) 1744-9863 (Online) Journal homepage: http://www.tandfonline.com/loi/rjpw20 “He does not understand our customs”: Narrating orality and empire in Chinua Achebe’s Things Fall Apart Jarica Linn Watts To cite this article: Jarica Linn Watts (2010) “He does not understand our customs”: Narrating orality and empire in Chinua Achebe’s Things Fall Apart , Journal of Postcolonial Writing, 46:1, 65-75, DOI: 10.1080/17449850903478189 To link to this article: http://dx.doi.org/10.1080/17449850903478189 Published online: 27 Jan 2010. Submit your article to this journal Article views: 501 View related articles Full Terms & Conditions of access and use can be found at http://www.tandfonline.com/action/journalInformation?journalCode=rjpw20 Download by: [Indiana University Libraries] Date: 24 February 2016, At: 16:43 Journal of Postcolonial Writing Vol. 46, No. 1, February 2010, 65–75 “He does not understand our customs”: Narrating orality and empire in Chinua Achebe’s Things Fall Apart Jarica Linn Watts* University of Utah, Salt Lake City, USA Downloaded by [Indiana University Libraries] at 16:43 24 February 2016 jarica.watts@utah.edu Jarica 0 100000February 46 2010 &Article OriginalofFrancis 1744-9855 (print)/1744-9863 JournalandPostcolonial 10.1080/17449850903478189(online) RJPW_A_448194.sgm TaylorLinnWatts 2010 Writing Francis This article delineates different strains of...
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...Journal of Business Ethics (2007) 74:303–314 DOI 10.1007/s10551-007-9517-y Ó Springer 2007 Stakeholder Capitalism R. Edward Freeman Kirsten Martin Bidhan Parmar ABSTRACT. In this article, we will outline the principles of stakeholder capitalism and describe how this view rejects problematic assumptions in the current narratives of capitalism. Traditional narratives of capitalism rely upon the assumptions of competition, limited resources, and a winner-take-all mentality as fundamental to business and economic activity. These approaches leave little room for ethical analysis, have a simplistic view of human beings, and focus on value-capture rather than valuecreation. We argue these assumptions about capitalism are inadequate and leave four problems in their wake. We wish to reframe the narrative of capitalism around the reinforcing concepts of stakeholders coupled with value creation and trade. If we think about how a society can sustain a system of voluntary value creation and trade, then capitalism can once more become a useful concept. KEY WORDS: capitalism, stakeholder, ethics, economics, free market Introduction1 We live in the age of markets. While markets have been around for thousands of years, we are just beginning to understand their power for organizing society and creating value. In the last 200 years markets have unleashed a tremendous amount of innovation and progress in the West. The industrial revolution, the rise of consumerism, and the dawn...
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...story with more than 100,000 employees worldwide and global leadership in the manufacture and distribution of luxury goods. A global vision dedicated to serving the needs of every customer. The successful marriage of cultures grounded in tradition and elegance with the most advanced marketing, industrial organization and management techniques. A singular mix of talent, daring and thoroughness in the quest for excellence. A unique enterprise that stands out in its sector. Our philosophy can be summarized in two words: CREATIVE PASSION. 12 22 36 46 58 WINES & SPIRITS FASHION & LEATHER GOODS PERFUMES & COSMETICS WATCHES & JEWELRY SELECTIVE RETAILING — The values of LVMH Innovation and creativity Because our future success will come from the renewal of our product offering while respecting the roots of our Maisons. Excellence of products and service Because we embody what is most noble and accomplished in the artisan world. Brand image enhancement Because they represent an extraordinary asset, a source of dreams and ambitions. Entrepreneurship Because this guarantees our ability to react and our motivation to create and seize opportunities. Leadership – Be the best Because it is through continually excelling that we accomplish the best and achieve the best results. LVMH 2012 —...
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...story with more than 100,000 employees worldwide and global leadership in the manufacture and distribution of luxury goods. A global vision dedicated to serving the needs of every customer. The successful marriage of cultures grounded in tradition and elegance with the most advanced marketing, industrial organization and management techniques. A singular mix of talent, daring and thoroughness in the quest for excellence. A unique enterprise that stands out in its sector. Our philosophy can be summarized in two words: CREATIVE PASSION. 12 22 36 46 58 WINES & SPIRITS FASHION & LEATHER GOODS PERFUMES & COSMETICS WATCHES & JEWELRY SELECTIVE RETAILING — The values of LVMH Innovation and creativity Because our future success will come from the renewal of our product offering while respecting the roots of our Maisons. Excellence of products and service Because we embody what is most noble and accomplished in the artisan world. Brand image enhancement Because they represent an extraordinary asset, a source of dreams and ambitions. Entrepreneurship Because this guarantees our ability to react and our motivation to create and seize opportunities. Leadership – Be the best Because it is through continually excelling that we accomplish the best and achieve the best results. LVMH 2012 —...
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...2 Copyright This documentation is protected by law. All rights, especially the right to duplicate, circulate, and translate, are reserved. No part of this publication may be reproduced in the form of copies, microfilms or other processes, or transmitted into a language used for machines, especially data processing machines, without the express written consent of the publisher. All copyrights reserved. All other product names are trademarks of the corresponding manufacturers. Errors in and changes to the contents as well as program modifications reserved. Copyright © MAGIX Software GmbH, 1994 - 2012. All rights reserved. MAGIX and Music Maker are registered trademarks of MAGIX Software GmbH. VST and ASIO are registered trademarks of Steinberg Media Technologies GmbH. This product uses MAGIX patented technology (USP 6,518,492; USP 6,888,999) and MAGIX patent pending technology. Other named product names may be registered trademarks of their respective owners. www.magix.com Preface 3 Preface MAGIX Music Maker 2013 offers an easy start and the option to dive deeper into the world of music production. A giant, high-quality sound archive, an especially intuitive approach to creating original music, plus many useful functions result in an unbeatable complete package for making your own songs. The handling is especially easy and consistent. The included sound files can be combined with the software synthesizers easily. MP3 songs can be used with audio CD tracks, your...
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...The White Tiger Summary The entire novel is narrated through letters by Balram Halwai to the Premier of China, who will soon be visiting India. Balram is an Indian man from an impoverished background, born in the village of Laxmangarh. Early on, he describes his basic story: he transcended his humble beginnings to become a successful entrepreneur in Bangalore, largely through the murder Mr. Ashok, who had been his employer. Balram also makes clear that because of the murder, it is likely that his own family has been massacred in retribution. In Laxmangarh, Balram was raised in a large, poor family from the Halwai caste, a caste that indicates sweet-makers. The village is dominated and oppressed by the “Four Animals,” four landlords known as the Wild Boar, the Stork, the Buffalo, and the Raven. Balram's father is a struggling rickshaw driver, and his mother died when he is young. The alpha figure of his family was his pushy grandmother, Kusum. Balram was initially referred to simply as “Munna,” meaning “boy," since his family had not bothered to name him. He did not have another name until his schoolteacher dubbed him Balram. The boy proved himself intelligent and talented, and was praised one day as a rare “White Tiger” by a visiting school inspector. Unfortunately, Balram was removed from school after only a few years, to work in a tea shop with his brother, Kishan. There, he furthered his education by eavesdropping on the conversations of shop customers. Balram feels that...
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...communicate with your marker by employing your ‘authorial voice’.” - Dr Alastair Greig Head, School of Social Sciences The Australian National University Valli Rao Kate Chanock Lakshmi Krishnan “This is a great book ... clear, useful, beautifully conceived and produced ... an intriguing approach, one that will make sense to students and really assist their essay writing skills.” - Brigid Ballard & John Clanchy authors of the international best-seller Essay writing for students: a practical guide How effective structure supports reasoned argument in essays1 Discipline/field Topic Underlying question Introduce discipline/field/context and topic Roughly, 10–15% of essay length Why is this topic interesting from the perspective of the discipline/field? [also consider how interested you are in the topic] I N T R O D U C T I O N Focus As necessary, indicate relevant debate, previous research, problem, definitions, scope in time & place, etc Signpost structure of argument Tell the reader the sequence of your sections/ issues in the body of your essay Indicate thesis statement (your main line of argument)...
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...Information given within this Design Dissertation is true to the best knowledge of the student mentioned below. All possible efforts have been made by the author to acknowledge the secondary sources information. Right to further modification and/or publication of this Design Dissertation in any form belongs to its author. Contents within this Design Dissertation can be reproduced with due acknowledgment for academic purposes only without written consent from the author. Tabassum Ahmed 083163010 Dept. of Architecture North South University Dhaka 2012 2 Dedication To the Buddhist community of Ramu 3 ACKNOWLEDGEMENT I am thankful to Allah for giving me patience and strength to cope with the everyday hurdles in this whole journey of architecture. My deepest gratitude extends to my faculty, Dr. Shayer Ghafur for his constant guidance and support throughout this dissertation. I am thankful to Professor Haroon Ur Rashid for helping me to understand this project and Architect Ismat Hossain for encouraging me about this project from the very first stage. I would like to thank the temple restoration committee, especially Shreemad Satyapriya Mohathero who has been kind enough to give me information about the Buddhist community and share their history, even in such a distressed time. In addition, I am grateful to Mr. Dippen Barua and Mr. Rajesh...
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