...In the novel Ship Breaker by Paolo Bagulucipi, Nailer is a strong young man who has no education because of his lifelong job of ship breaking. In Nailer’s job of ship breaking he scavenge ships for items like copper wire to earn money to survive. Nailer and his dad does not have a strong relationship. Nailor is taking more care of his dad then his dad does for him like buying him beer and providing for the family. Nailor’s loyalty changed over time because of his dad behavior and crew members even though he is more loyal to his four crew members than he is to his father. Nailer’s loyalties relies more with his crew members than it does with his own father. Richard and his crew take Nailers crew hostage. Nailer sees that Nita is out of luck so he has to think fast to save her. Nailer begins attacking blue eyes and Sadna started to help him. He tries to help Sadna and kills blue eyes in the process. He betrayed blood blue eyes for one of his crew members but Nailer wouldn’t have never had to do this if Richard never betrayed him....
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...transportation. Sailing has also now become a sport and hobby that many people enjoy. Both the Industrial Revolution and early civilizations caused the design, safety, and function of sailboats to evolve. Sailboats have been in use as far back as the early Egyptians. A sailboat works by using a sail to catch the wind and have the wind propel the boat over the water. “Early Phoenicians and Egyptians would sail using a cloth sail attached to a single log,” (Sailboat History Timeline). Since then, the sailboat has evolved into many different types of ships, such as the caravel. The caravel was used in the 15th century by Europeans because it is very fast and sturdy (History of Boats and Ships). These people used the sailboat to travel throughout their territories. Many people today have sailboats that they use for...
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...Feb. 19, 2013 A Formal Analysis of John Constable’s Seascape with Sailing Vessels on the Horizon John Constable is one of the first Romantic artists to view landscapes for their own beauty. He painted during the Industrial Revolution and as a result viewed industrialization as the degradation of the natural environment. Constable’s dystopic view of the Industrial Revolution is evident in his paintings in which he juxtaposes elements of the natural world and industrial world to convey a certain message. In his painting Seascape with Sailing Vessels on the Horizon, Constable contrasts the pollution of the sea with the serene, vast sky to depict the grandeur of nature and its tenacity even in the face of industrialization. Constable noticeably uses color to describe the contaminated and tumultuous waves of the sea in opposition to the glowing and still sky. The viewer’s eyes first jump to the tide hitting the beach and creating a splash of water at the forefront of the painting. The colors used at this location are navy, mustard yellow, brown, grey, and creamy-white. These colors in the sea connote to filthy, muddled water. Furthermore, there are a couple of distinct dashes of deep, dark grey colors at the splash site that add to the effect of making the water seem dirty. The colors in the sea are most intense at this splash site but the viewer also notices specks of burgundy through out the sea that confirm the pollution and impure composition of the sea. In contrast...
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...February 18, 2016 Research File Memorandum Prepared by: Certified Public Accountants Client: Smooth Sailing Subject: Fair Value Accounting – Asset Impairment Background: Smooth Sailing is a privately-held cruise operator. The company operates a sole cruise ship that was purchased using non-recourse debt from a bank. Nonrecourse debt is secured by the collateral. In the event of default, the lender can only seize the collateral and no further action can be taken against smooth sailing. Smooth Sailing believes their ship is independent of all of their other asset groups. The ship generates its own cash flows. In the current operating year, pirates have entered the area where the cruise ship operates. As a result of this incursion, the ship experienced thirty percent lower cash flows of $1.0 million in the current year. The company does not anticipate this will change in the near-term. This change may require the company to consider an impairment loss on the asset since the fair value (future cash flows) does not exceed the carrying cost of the boat. The boat currently carrying value is $4.6 million while the initial estimate of the fair value is $3.0 million. The debt also carries a value of $4.0 million. This initial estimate leads me to believe that this asset needs to be tested for impairment. The future cash flows should be used from the probability table (Exhibit A) in order to determine the value of the asset. Statement of research problem or question: ...
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...A mistake is a false assumption made by one or both parties in the formation of a contract and may be used as grounds to invalidate the agreement. There are three types of mistake in the law of contract. These are common mistake, mutual mistake and unilateral mistake. A common mistake is where both parties hold the same mistaken beliefs of the facts. A common mistake ca only void a contract if the mistake of the subject matter was sufficiently fundamental to render its identity different from what was contracted, making the performance of the contract impossible. There are two situations of common mistake. These are the case of res extincta and the case of res sua. In the case of res extincta, there is a common mistake asto the existence of the subject matter of the contract. For example, if A agrees to sell his car to B and unknown to both persons, the car had at the time of sale been destroyed by fire, the contract will be void because A has innocently undertaken an obligation which he cannot possibly fulfill. The following case is an application of res extincta. In the case of Couturier v Hastie, Hastie dispatched a cargo of corn from Salonica and sent the chaterparty a bill of lading to their London agents so that the corn might be sold. The London agents employed Couturier to sell the corn and a person named Callander bought it. Unknown to the parties the cargo had become overheated and had been landed at the nearest port and sold, so that when the contract was...
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...If ever there was a company that didn’t care how its merchandise was being used it was the shipbuilder John Laird, Sons and Company of Birkenhead, England. Whether it ships were being used to push and protect the East India company’s lucrative opium trade in China, or were being used to put down liberal rebellions in Mexico, the warships they produced could get your dirty deeds done dirt cheap.1 One of the company’s most controversial customers was none other than the Confederate States of America. Having seceded from the Union of the United States in April of 1861 the rebellious pariah state lacked any real industry and was in dire need of ships that could break the Union Blockade’s strangle hold on its port cities. Operating in England, Confederate...
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...and Disclosures (ASC 820) ASC 820, Fair Value Measurements and Disclosures, applies to U.S. GAAP that require or permit fair value measurements or disclosures and provides a single framework for measuring fair value and requires disclosures about fair value measurement. The Topic defines fair value on the basis of an "exit price" notion and uses a "fair value hierarchy," which results in a market-based — rather than entity-specific — measurement. IAS 36, Impairment of Assets (IAS 36) To ensure that assets are carried at no more than their recoverable amount, and to define how recoverable amount is determined. Discussion 1 — Impairment Assessment for a Long-Lived Asset How should Smooth Sailings’ management perform the recoverability test for the cruise ship as of December 31, 2010? In addressing this question, consider: •What assets and liabilities should be included in the “asset group” as defined by ASC 360-10 for purposes of performing the recoverability test? •How should the multiple operating scenarios impact the recoverability test? •What impact should the potential foreclosure and extinguishment of debt have on the undiscounted cash flows used to perform the recoverability...
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...Primal Cry All humans are connected whether or not they do see the connection; for example, when one person is mad and he or she takes their madness out on another person and that person gets effected and the domino effect occurs where the whole community is effected just by that person’s mood. Humans are also connected to their ancestors due to their physical and mental characteristics, such as one guy is naturally strong because one of his ancestors needed the strength for his or her survival. Joseph Conrad goes into explicit detail about how all humans are in touch to their ancestors in the sense of mental reactions. In Heart of Darkness, Joseph Conrad uses Marlow’s instincts in the jungle to demonstrate how even today humans are in touch with their primal senses. In the beginning of Heart of Darkness part 2, Marlow and the crew of his ship are sailing along the Congo River at night and then their senses change from exploring the Congo to heading back to some “home.” “ The prehistoric man was cursing us, praying to us, welcoming us - who could tell ? We were cut off from the comprehension of our surroundings ; we glided past like phantoms, wondering and secretly appalled, as sane men would be before an enthusiastic outbreak in a madhouse. We could not understand because we were too far and could not remember, because we were traveling in the night of first ages, of those ages that are gone, leaving hardly a sign — and no memories.”(Conrad...
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...automatically according to the operators' choice. RADAR Plotting - Modern radar now-a-days are equipped with an electronic plotting feature known as ARPA this feature makes plotting directly on the radar display very convenient and replaced the need for the reflection plotter or plotting sheet. “Principal ARPA System” • Computer based radar system have been used on board naval vessels since the 1950’s but not until the end of the 1960’s did systems for merchant maritime use come onto the market • These systems were well received because of new, more economical technology and good business conditions for shipping. • It is not by chance that the transition from conventional radar to ARPA has been compared to the pre- and post-radar era onboard ships. We can expect some of the same problem as in that first transition if proper and thorough training is not received. • When it works properly, ARPA is a fantastic tool in the hands of a qualified navigator with proper training. In the hands of untrained personnel, it is a dangerous tool, which can add to the cause of collision. • One main requirement for all users of ARPA is to have good knowledge of the principles of manual plotting in order to understand the information given by the instrument. On the same principles, it is necessary to obtain maximum usage of the equipment in a safe and responsible manner. • Since the first computerized radar system was introduced up to this present time many different ways of presenting the information...
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...TrueBlood Case – Rough Waters Ahead 1. How should Smooth Sailings’ management perform the recoverability test for the cruise ship as of December 31, 2010? In addressing this question, consider: The following are the required steps to identify, recognize and measure the impairment of a long-lived asset (group) to be held and used: Step 1: Indicators of impairment — FASB ASC 360-10-35-21 “A long-lived asset (asset group) shall be tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable.” * In this case, there is a possibility of impairment because of an increased presence of pirates in the area in which Smooth Sailing cruises, the cruise ship’s operating performance has significantly declined, which has directly contributed to a decline in its overall fair value. Step 2: Test for recoverability “If indicators are present, perform a recoverability test by comparing the sum of the estimated undiscounted future cash flows attributable to the asset (group) in question to their carrying amounts “ * In this case, $2.3million < $4.0million Step 3: Measurement of an impairment “If the undiscounted cash flows used in the test for recoverability are less than the long-lived asset’s (group’s) carrying amount, determine the fair value of the long-lived asset (group) and recognize an impairment loss if the carrying amount of the long-lived asset (group) exceeds its fair value.” •...
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...The causes and effects of European Exploration were many and varied. Europeans did many things and reached many different places. Since Gold and Glory was on of the things all European Explorers wanted, the strived to find big and bold things. They wanted to settle in the new lands and find far away places that nobody had discovered before. The explorers wanted to find a way to Asia for riches. They also wanted fame and to get silk and spices. Some of the spices they wanted to find were Ginger, Nutmeg, Cloves, Cinnamon, Pepper, and many others. Some luxury items they wanted were gold, silver, porcelains, and tea. Because of religion people were forced to go to what they call “The Americas.” Explorers wanted to escape from England because of...
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...man will do his duty". Now that the British navy was in formation and sailing right at the combined fleet it was time for the battle to begin. Nelson led the windward column in the Victory while the leeward column was led by Vice Admiral Cuthbert Collingwood, 1st Baron Collingwood (1748 – 1810) in the HMS Royal Sovereign. It would be the Royal Sovereign that would be the first British ship to enter range of the combined fleet and it would be the French ship Fougueux that would fire the first shots of the battle. At noon the Royal Sovereign cut the combined fleets line and opened up with a double shot broadside that tore...
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...Irregular Warfare in Somalia Introduction Irregular warfare can be defined as a violent struggle among state and non-state actors for legitimacy and influence over the relevant populations. Irregular military in this case refers to a substandard form of military recruitment that does not comply with national and international military guidelines. This means that the people recruited in the army are not qualified in terms of age and education. Some of them are children who are trained in hostile environments and taught to adopt and become terrorists. This is the case for Somalia. Somalia is an eastern African country that borders Kenya to the west, Ethiopia to the north and the Indian Ocean to the east. For the past few decades, the country has gained international attention due to the challenges of warfare facing the country. It has become a breeding zone for the Al-Shabaab community that is responsible for a number of attacks in neighboring and overseas countries (Le Sage, 2010). Being opposed to the leadership of the government, this group is responsible for perpetrating a variety of irregular warfare activities including terrorism and pirating. Irregular Warfare Activities As identified above, the major threats of the Al-Shabaab military group include terrorism and pirating. Despite advancement in technology of the west, this group has been in the forefront in impacting the world with a sense of fear and horror. Whenever an attack occurs, people are anxious to know the...
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...Introduction Irregular warfare can be defined as a form of warfare in which one of the combatants is composed of irregular military (Morgan, 2008). Irregular military in this case refers to a substandard form of military recruitment that does not comply with national and international military guidelines. This means that the people recruited in the army are not qualified in terms of age and education. Some of them are children who are trained in hostile environments and taught to adopt and become terrorists. This is the case for Somalia. Somalia is an eastern African country that borders Kenya to the west, Ethiopia to the north and the Indian Ocean to the east. For the past few decades, the country has gained international attention due to the challenges of warfare facing the country. It has become a breeding zone for the Al-Shabaab community that is responsible for a number of attacks in neighboring and overseas countries (Le Sage, 2010). Being opposed to the leadership of the government, this group is responsible for perpetrating a variety of irregular warfare activities including terrorism and pirating. Irregular Warfare Activities As identified above, the major threats of the Al-Shabaab military group include terrorism and pirating. Despite advancement in technology of the west, this group has been in the forefront in impacting the world with a sense of fear and horror. Whenever an attack occurs, people are anxious to know the group responsible for the attack. The Al-Shabaab...
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...“They’ll never get our gold! Not an ounce of it will they touch! Of that I am determined.” (Snow Treasure p. 10) Bravery, loyalty, and just the right touch of stubbornness is what’s needed to keep your enemies from getting what they want. Snow Treasure by Marie McSwigan is full of bravery and loyalty, emphasizing that even in the most dangerous times you can still be brave and loyal to your country. Snow Treasure is about people in the town of Riswyk, Norway during WWII. Their bank has thirteen tons of gold bullion (gold not yet made into money). Thirteen tons of bullion would be the equivalent of forty million kroner or nine million dollars of USA money. The Germans are coming and a man, Uncle Victor, comes up with the idea of sailing...
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