...teléfono: Nick: Salimos para Costa Rica en tres días. ¿Tenemos todo listo? Genniy: Yo compré los boletos y busqué mi pasaporte. Cathy: Yo hice las reservaciones para el hotel en Costa Rica. Ryan: ¡Bueno! Nos vemos en tres días en el aeropuerto. Segunda escena – En el aeropuerto: Nick: Hola amigos. ¡No puedo creer que hoy vamos a viajar a Costa Rica! Cathy: ¿Tienen Uds. los pasaportes y los boletos? Genniy: Sí, los tenemos, y las maletas también. Ryan: ¿Por qué no hacemos cola para facturar el equipaje? Nick: Buena idea. Lo facturamos y le preguntamos al agente a qué hora sale el vuelo. Genniy: O podemos mirar la pantalla para saber la hora de salida. Ryan: El vuelo sale de la puerta veintiocho a las ocho y media. Cathy: Ya son las ocho. ¡Vamos! Tercera escena – En el aeropuerto de Costa Rica: Nick: Yo estoy muy cansado. Nosotros necesitamos pasar por la aduana. Cathy: Yo también, no dormí en el avión. Ryan: ¿Dónde está el reclamo de equipaje? Genniy: Está allí, vamos a buscar nuestras maletas. (Llegan al reclamo de equipaje) Nick: ¿Dónde están mis maletas? Cathy: Yo no sé, pero mis maletas están aquí. Ryan: Nuestras maletas están aquí, vamos al hotel. Genniy: Necesitamos tomar un taxi. Cuarta escena – En el hotel: Nick: El hotel es grande, ¿dónde está la recepción? Cathy: La recepción está allí, vamos a recibir la llave. (Se aleja) Ryan: Vamos a las habitación por tomar el ascensor. Genniy: La habitación está en el segundo piso. Nick: ¡Estamos...
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...I’m sitting in an ice cave shivering, wondering how best to explain the awkward situation I’m in. I tried to explain earlier this morning while the demons wracked my camp that I was not in fact a relative of the Marquise of the Crystal Crown. She had recently inherited her late father’s title (a none too suspicious death, if you ask me). Those who were her potential successors began to disappear. Perhaps she thought that her relatives with a better moral compass would try to usurp her throne, ending her malicious reign before it began. Her relation and practice with Glacier Fiends was no secret, after all. This is where I come in. I recently changed my appearance with a glamour, my hair to a luminescent silver, my eyes a brilliant sapphire. Making me look far too similar to the Marquise’s younger cousin, who probably disappeared herself after learning about the fate of the rest of her family. The guards didn’t notice that my hair and eyes changed back to their natural colour when I entered the cell, the bars being layered with an anti-magic binding. I’ve been here for about an hour and have done nothing but think of multiple escape plans – not from this room, of course. I realized upon passing the bars that any escape attempt from here would be fruitless. Making concrete plans is difficult when I do not know where I’ll be taken when they let me out. And I figure they’ll let me out eventually because won’t they want information on “my” relatives that are still alive? I’m hoping...
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...Indian Camp The Horror of Life from Birth to Death During the Modernist Movement, existentialist writers wrote about the meaninglessness of life. Existentialists believe that life is a struggle against the nothingness of the world. They believe there is no higher meaning to the existence of man, and they deny the existence of God. Ernest Hemingway portrays three different ways of coping with the meaninglessness of life in his short story “Indian Camp.” The three characters that portray the three different outlooks are Nick’s father, Uncle George, and the Indian father. Ernest Hemingway uses the environment in his short story “Indian Camp” to develop the thematic vision that there are different ways people can cope with the horror of life from the moment of birth and until death. In the short story, Hemmingway portrays a microcosm of life by including a baby’s birth and a man’s suicide in the short period of the story. The pregnant Indian woman struggles in labor for two days without any medical attention until Nick’s father’s arrival. Nick’s father describes to Uncle George after the procedure, “Doing a Caesarian with a jack-knife and sewing it up with nine-foot, tapered gut leaders” (18). The description of Ernest Hemingway INDIAN CAMP I guess the beginning of the story is quite usual and perhaps even banal. The son wants to watch his father brings new life into the world. He is a young boy who helps his father. But on the other hand, despite the fact that there is only...
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...ARUCAN, PEARLNETTE GAY JUNE V. MANAGEMENT ADVISORY SERVICES MWF 1:30-3:30 ROBERT KIYOSAKI Who is Robert Kiyosaki? A fourth-generation Japanese American, Kiyosaki was born and raised in Hilo, Hawaii. After graduating from Hilo High School, he attended the U.S. Merchant Marine Academy in New York, graduating with the class of 1969 as a deck officer. He is an investor, businessman, self-help author, motivational speaker, financial literacy activist, and occasional financial commentator. Kiyosaki is perhaps best known for his Rich Dad Poor Dad series of motivational books. As a devout global financial literacy advocate, Kiyosaki has been a staunch proponent ofentrepreneurship, business education, investing, and that comprehensive financial literacyconcepts should be taught in schools around the world. Why did he filed for bankruptcy? Robert Kiyosaki filed for corporate bankruptcy through one of his companies, Rich Global LLC. Rich Global LLC filed for Chapter 7 bankruptcy protection on Aug. 20 in a Wyoming bankruptcy court. Kiyosaki and his bankruptcy attorney did not immediately respond to requests for comment. The company had been weighed down by a lawsuit filed by Learning Annex, one of Kiyosaki's earliest backers who had helped arrange his public speaking events earlier on. Bill Zanker, the founder and president of Learning Annex, sued Kiyosaki after he allegedly failed to pay a percentage of profits from his speaking engagements. A district judge in New York...
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...Nick Adams’ Journey to Recovery In the story “Big Two-Hearted River” by Ernest Hemingway, Nick Adams is a young man recovering from traumatic experiences he suffered during his past wartime experiences. Nick seems to be an outdoorsman and throughout the story, his mental recovery progresses and he begins to leave behind some tragic experiences from his past by escaping civilization and completely immersing himself in what he knows- nature. Nick’s escape from civilization into nature is not only a physical journey but a journey of healing and self renewal from his traumatic experiences. His journey allows him to first retreat into physical activity in order to clear his mind, begin to process and accept his traumas, and eventually return to himself and civilization. At the beginning of Nick’s excursion, the narrator describes, in detail, Nick’s actions as he goes about his trip. In doing so, the narrator focuses on Nick’s physical actions rather than focusing on Nick’s thoughts and feelings. He allows the readers to see that Nick is avoiding his emotions and is allowing himself to be absorbed in his physical activity as a form of therapy. By returning to nature and activities he is familiar with, Nick can just go through the motions without letting his thoughts and feelings surface: “He felt he left everything behind, the need for thinking, the need to write, other needs. It was all back of him.” (210) Here the narrator shows Nick attempting to escape from civilization and...
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...Nick Vujicic Imagine getting through your busy day without hands or feet. Picture your life without the ability to walk, care for your basic needs, or even embrace those you love. Meet Nicholas Vujicic (pronounced VOO-yee-cheech). Without any medical explanation or warning, Nick was born in 1982 in Melbourne, Australia, without arms and legs. Three sonograms failed to reveal complications. And yet, the Vujicic family was destined to cope with both the challenge and blessing of raising a son who refused to allow his physical condition to limit his lifestyle. The early days were difficult. Throughout his childhood, Nick not only dealt with the typical challenges of school and adolescence, but he also struggled with depression and loneliness. Nick constantly wondered why he was different than all the other kids. He questioned the purpose of life, or if he even had a purpose. According to Nick, the victory over his struggles, as well as his strength and passion for life today, can be credited to his faith in God. His family, friends and the many people he has encountered along the journey have inspired him to carry on, as well. Since his first speaking engagement at age 19, Nick has traveled around the world, sharing his story with millions, sometimes in stadiums filled to capacity, speaking to a range of diverse groups such as students, teachers, young people, business professionals and church congregations of all sizes. Today this dynamic young evangelist has accomplished more...
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...The world is characterized by the presence of a wide range of music genres. Music plays various and different roles in the lives of individuals. In the book “High Fidelity”, Nick Hornby, the author, examines how music can be used to examine the various aspects of everyday life. In the book “High Fidelity”, Rob, the main character sets out to associate various events in his life with his forever-changing tastes in music. The main character in “High Fidelity” uses music to put things into perspective and re-examine some important aspects of his life. On the other hand, Alan Ruisbridger is of the view that music can change people’s lives for the better. In his book “Play it Again”, Ruisbridger tells the story of how the main character learnt to play the piano and ended up becoming a better person in the course of his lessons. Both Hornby and Ruisbridger are giving testaments of how music can play an important role in an individual’s life. In addition, both authors focus on the positive influences that music can have on people’s lives. Music has a hidden element and it is not easy to understand. Furthermore, it is true that music has the power to impact positive changes on an individual’s life. This essay explores the different ways in which music can improve our lives and change them for the better. Ruisbrigder is of the opinion that music can help us to learn ‘new tricks’ even at an advanced age. Using music as a learning tool is not a new concept because this strategy has previously...
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...Topic: The biggest scams in the banking history Course: Banking Students: Nino Vepkhvadze, Gohar Trchunyan, Giorgi Menteshashvili & Giorgi Paksashvili Date: 04.06.2012 A fraud, by definition, is the act of deliberate deception of people to secure an unlawful gain. These are mainly for the purpose of defrauding money as well as prestige rather than immediate financial gain. A study by BBC has revealed that the average woman lies twice a day while a man tells three lies a day. However, the lies they tell differ from each other a lot, both in essence and the results yielded. This is why we decided that the frauds and scams of the banking industry as well as their influence on other financial institutions would be quite interesting and intriguing. Let us together investigate how far a human mind can go to earn as much money and glory as we desire. Jerome Kerviel’s case-Societe Generale on the edge In January 2008, A French court sentenced former Société Générale trader Jérôme Kerviel to three years in prison for his role in one of the world's biggest-ever trading scandals and ordered him to repay his former employer €4.9 billion—a sum it would take him 180,000 years to pay at his current salary. In convicting Mr. Kerviel of breach of trust, forgery, and unauthorized computer use, the judge also handed Mr. Kerviel a lifetime trading ban. The prison sentence handed to Mr Kerviel is for five years, of which two years were suspended. Throughout the trial, Mr. Kerviel and...
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...corporate social responsibility influences a company. Through the related CSR problems in Baring bank and trying to find what matters that the organization lack of. In addition to know more about how CSR effect the global business environment, depends on the Sarbanes-Oxley Act, the report talk about the five acts can possibly prevented Leeson to destroy the company. And also discuss why the SOX act is not effective which lead to the Madoff investment scandal and could not prevent the 2008-2009 financial melt down using the ethical decision making process. \ Introduction Barings Bank was the oldest merchant bank in London until its collapse in 1995 after one of the bank's employees, Nick Leeson, lost £827 million ($1.3 billion) due to speculative...
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...1. What was the case about? (Summary of the Case) The case was about how one man single-handedly brought down one of the world’s most historic banks. The man was Nick Leeson and it happened from 1992 to 1995. He did it while holding the position of general manager to Barings Securities in Singapore. As general manager he oversaw both trading and back office needs, something uncommon in the industry due to the fact that it eliminated necessary checks and balances that would prevent such fraud from occurring. He had authority to deal in futures and options order for clients or other firms within Barings and arbitraging price differences between Nikkei futures traded on the SIMEX and Osaka exchange, it was a low risk strategy meant to make small profits. Where Leeson went astray was when he began unauthorized speculation in futures on Nikkei 225 stock index and Japanese government bonds. These trades where highly risky due to the fact that they involved a highly leveraged strategy and depended solely on the markets movement upwards. This strategy is a double edged sword because even though it provided devastating results for Leeson it could of also provided incredible gains if the market would have gone up. Leeson essentially bet that the Nikkei was going to rise. Once the loses started coming in Leeson opened up a secret trading account, account 88888. The account was initially set up to cover a mistake done by one Leeson’s traders in which she mistakenly submitted a purchase...
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...Overview This article looks into the details with regards to the collapse of one of world’s oldest (~233 years old) and most respectable bank in London, Barings Bank on 26 Feb 1995 due to uncontrolled and well-concealed derivatives trading arising from ethical improprieties of a person called Nick Leeson in their Singapore office. End result is ~$1.4 billion in losses. On the surface, we may be tempted to conclude that the blame rests solely on him but an in-depth & analytical mind would ask the simple question on “how is it possible that this one man was able to cripple a financial giant?” Further possible questions which would pop up would be “What was the senior management’s role in this situation and did they contribute to the demise? How effective were the internal control systems and was the Singapore operations managed effectively? etc” In short, for this incident to happen, it involved more than one factor and similarly for this to be avoided, it also involved more than one lapse or system to be further reinforced and closed. As such, let’s take a deeper look into these aspects in the subsequent paragraphs. Factors behind the collapse of Barings Bank Nick Leeson started well as a star trader and was tasked as SIMEX floor manager by Barings to manage the Singapore trading operations to profit from low risk arbitrage opportunities with derivatives contracts between SIMEX and Japan’s Osaka Exchange. Arbitrage involves going long in one market and short in the other...
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...Part 1 After watching the “Rogue Trader”, we can say that the main reason for the collapse of Baring Banks is the lack and inadequate internal controls under COSO combine with Nick’s fraudulent activities. The biggest deviation arises from the control activities, particularly the segregation of duties. When Nick Leeson got the job opportunity in Singapore, he was hired as the general manager of the trading floor and also was the person responsible for the settlement which means that he was making the trading transactions and at the same time recording and reporting them into the accounting system. It is a big problem because the positions assumed by Nick are related to generating revenue and doing the record keeping which are 2 areas that can create a conflict of interest, in retrospect those functions should have been held by two different persons and the communications process between them should be monitor to reduce the possibility of collusion or fraud. Another lack in control activities was the total absence of an authorization system. As we saw in the movie, when BeauMarchais asked him to buy 4000 contracts, even though the market average trade was 20000, he did not need any authorization nor anybody review the transaction to be sure that it was in accordance with the company objective. In another instance, he was able to transfer 7.8 billion yen between accounts. To avoid questionable situations and be able to make people accountable for their actions, they could...
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...Rogue Trader: postmortem You recently graduated and just started employment at the New York office of one of the Big Four accounting firms. Your first week at the firm included presentations on the organization of the firm, as well as firm policies and procedures. Tomorrow morning, you begin a two-week training program on internal controls and you have a whole binder of information that you must read in preparation for the exercises and role-playing that are included in the training. You recognize most of the materials in the binder because you studied them in your ACC 409/609 class: The Committee of Sponsoring Organizations Report, Internal Control—Integrated Framework. You also notice that there are several cases addressing internal control issues. One case is the Barings Bank collapse and there is a video of this case that you and the other staff auditors will view as part of the training. You want to be prepared for the discussions during the training sessions, so you conduct some research on these topics, especially Barings Bank, because you are not familiar with that case. The COSO Framework You search the COSO website and find the 2013 Internal Control—Integrated Framework that outlines five essential components of any internal control system: (1) control environment, (2) risk assessment, (3) control activities, (4) information and communication, and (5) monitoring. This updated version of the Framework introduces 17 principles associated with the five...
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...The first major problem the bank faced was in 1890 wherein the bank was almost declared insolvent due to excessive risk-taking on poor investments in Argentina. But it was nothing compared to what happened in the year 1995 when a rouge trader single-handedly led the oldest merchant bank to its end. In 1992, Nicholas “Nick” Leeson, an ambitious young back office banker who had joined three years earlier from Morgan Stanley, was put in charge of Barings Futures Singapore (BFS). The unit’s job was simply to trade futures contracts for clients. Leeson was put in charge of both the trading floor and transaction settlement operations. A year later, BFS began to trade using its own account, attempting to take advantage of the difference between futures on the Japanese and Singaporean exchanges to make a profit. Such arbitrage, referred to inside Barings as “switching”, was seen as “essentially risk-free and very profitable” by management in London, including its chairman Peter Baring. Table from slideshare.net Leeson, however, set up a secret account, number 88888, which he used to invest in the Japanese stocks, specifically in the Nikkei 225. Luck was not on Leeson’s side because by the end of 1994, account 88888 had lost about £200 million, but Barings’ London management were not aware. Leeson, as head of both front and back offices of the company, was able to disguise his losses as debts owed by Barings clients. However, on the morning of January 17, 1995, the devastating...
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...Coalition Government Policy in many ways. For example, Nick Clegg’s party has influenced the presence of gay marriage to be legal, prevented Michael Gove from introducing a two-tier exam to replace GCSEs, resisted Conservatives’ proposals to completely reform the NHS, cutting out the lowest paid earners of tax, and scrapping the Conservatives’ idea of a ‘Snooper Charter’. Firstly, the Liberal Democrats supported the Conservatives’ idea that those with the lowest personal incomes are to be cut out of income tax, which totals to over 880,000 individuals. This would allow low-earners to be able to live off more, increasing their personal allowance to £10,600, which was a joint effort from both parties, not just the Liberal Democrats. However, the Liberal Democrats have delivered a new 7% stamp duty on homes sold exceeding £2 million, also known as “Mansion tax”. In terms of the healthcare, Nick Clegg’s party has been resistant and successful in delaying the Conservatives proposals to completely restructure the NHS, which would have ended up being privatized, leading to people having to pay to be treated. Home Secretary Theresa May proposed that security services should be given the power to have access to everyone’s phone and email records, social media and internet activity, which would damage civil liberties. The proposal stated that the records should be stored for 12 months. Theresa May expected the law to be passed in 2014. Nick Clegg however, withdrew his support for the bill...
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