Thursday, September 3, 2020
The Flea: Rhetoric and Poetry Mingling In John DonneÃ¢â¬â¢s sonnet, Ã¢â¬Å"The FleaÃ¢â¬ , Donne utilizes the pride of the insect to differentiate the immaterial size of the bug and the fantastically huge illustration connected to the bug. The speaker of the sonnet is conversing with a lady, attempting to persuade her into having intercourse with him outside of marriage. This sonnet can be broken into three refrains, of nine lines each, uses the picture of the bug to pass on three primary thoughts: the first as a vessel where their embodiment blends, second as the organization of marriage, lastly as an irrelevant portrayal of respect which would have no impact on them. DonneÃ¢â¬â¢s hyperbolic utilization of the bug reaches out through the sonnet as a mystical arrogance to pass on a coherent contention out of something apparently inconsequential to the current circumstance. The speaker begins his contention by first referencing that the lady has denied the speaker something. Be that as it may, it is at first hazy what was denied, all that is known is that by observing Ã¢â¬Å"Ã¢â¬ ¦this bug, and imprint in this,/How little that which [she] deniest [him] isÃ¢â¬ ¦Ã¢â¬ , accordingly resembling how the bug, much the same as whatever she denies him, is insignificant (Donne lines 1-2). This thought of irrelevant things meaning significantly more all in all turns into a fundamental string, which is sewn all through the sonnet. The speaker at that point takes note of how Ã¢â¬Å"Ã¢â¬ ¦in this bug [their] two bloods blended beÃ¢â¬ ¦Ã¢â¬ , suggesting a sensual blending of their blood (Donne line 4). This represents the very embodiment of these two entwining and getting one out of a solitary vessel. The bug is a vessel that represents association, for this situation the physical relationship between the speaker and the lady through sex and the trading of natural liquids. It is impo... ... make no difference at long last. Basically his contention comes down to demonstrating that sex with the speaker would not be disgraceful or corrupt, and that every one of her feelings of dread are unwarranted. Donne utilizes the insect all through his sonnet as a fundamental connection between sexual success and association. The bug rises above its underlying presence as an aggravating bug and become a presence fundamental to their association. It is through this portrayal of the insect, which permits Donne to bring the peruser into a contention of animalistic want besting appropriateness. The insect is fundamental to this contention, without which there is nothing establishing the conspicuous jumps of rationale made by the speaker and Donne. The arrogance is a well known scholarly gadget Donne utilizes in his verse, and in this specific case he utilizes it magnificently all through the whole sonnet to make an affection sonnet that rides the line among verse and way of talking.
Posted by Landon Harvey at 9:50 AM
Saturday, August 22, 2020
The motivation behind this investigation is to apply the business examination models presented in section four. The two models are PESTEL and - Essay Example Basis behind picking the Retail Sector The examination has chosen retail area under NAICS with code 44-45 (NAICS, 2013b). The retail part is a significant division which covers a wide territory of the business in todayÃ¢â¬â¢s world. The retail exchange showcase represents practically 12.4 percent of the all out business foundations in United States. The single store organizations are said to represent just about 95 percent of the whole United States retailers. A portion of the huge retailing organizations incorporate Wal-Mart, Zara, Target Corporation, Benetton Group and so forth. Notwithstanding, this examination would concentrate on the retail exchange industry Canada. The investigation has chosen this division as it covers a wide portion of the business world with tremendous development possibilities. NAICS Industry Profile: Retail Trade Industry Retail exchange is the offer of items and administrations by the people or the organizations to the end clients. The retailers incorpo rate a piece of the coordinated framework known as the flexibly chain. The retailer purchases items or products from the makers in huge amounts either legitimately or through entire deal and afterward offers them in little amounts to the clients so as to increase great benefit. This industry covers an immense segment of the organizations where retailing should be possible in fixed areas by methods for stores and showcases, or can be conveyed to the clients legitimately. The term retailer is material for the specialist organizations also. These specialist co-ops offer types of assistance like electric force, open utility and such for some people. The business contains independent venture shops. These shops might be situated in the private avenues, distinctive shopping boulevards or in the shopping centers. Internet retailing being one sort of electronic trade which is used in the business to purchaser exchanges for example B2C incorporate non-shop retailing. The retailing business ca n be supposed to be one of the most powerful ventures on the planet. It is considered as the one of the regularly developing organizations providing food items and administrations to the changing needs and requests of the clients. The organizations having a place with this specific industry offer the stocks or items to its shoppers from a clear area. Retail industry is the second greatest industry in whole United States as far as both number of representatives and foundations (Research and Markets, 2013). It creates a retail offer of $ 3.8 trillion yearly. It likewise incorporates the biggest area around the world. The following piece of the task would lead the large scale natural examination of the retail exchange industry by methods for PESTEL Analysis and PorterÃ¢â¬â¢s Five Forces Analysis. PESTEL Analysis The PESTEL Analysis helps in portraying a basic structure of various large scale ecological components which are utilized in the natural examining of a specific association ( Pettigrew, Whittington and Thomas, 2006; Lorat, 2009). Political/Legal Canada is an equitable nation with one parliamentary government. It comprises of three principle parts: a) Federal, b) Provisional and c) Municipal (Parliament of Canada, 2012). The legislature gives tremendous degree to the retail business. It encourages the development in the business. The arrangements on the economy and exchanging understandings as determined by NAFTA are basic to be trailed by the organizations working in this industry (Foreign Affairs, Trade and Development Canada, 2013). The expanded confinements in the
Posted by Landon Harvey at 6:59 PM
Friday, August 21, 2020
A Short Guide to Capitalization A capital letter is the type of an in sequential order letter, (for example, A, B, C) used to start aÃ¢ proper nounÃ¢ or the main word in a sentence. A capital letter is a capitalized letter rather than lower case. Action word: underwrite. Additionally known asÃ¢ majuscule, capitalized, capitalized, square letter, and tops. In old style Greek and Latin composition, just capital letters (additionally called majuscules) were utilized. Models and Observations By the 6th and seventh hundreds of years the different letter structures we currently use had been designed . . .. From the ninth century on all writing in the Latin letters in order, in whatever style or hand, utilized capital and little letter matches as we do now.(Thomas A. Sebeok, Current Trends in Linguistics, 1974)A capital is constantly utilized for the main letter of a sentence. It is an all inclusive standard. Be that as it may, the equivalent can't be said for the upper casing of names or formal people, places or things. Style differs fiercely betweenand even withinpublications, for example, national papers and magazines. Apply judicious principles. All names of individuals and placesPeter Cook, Paraguay, Piccadilly Circustake capitals. All titles of explicit works of artCitizen Kane, the Mona Lisa, Beethovens Fifth Symphony, Anna Kareninatake a capital. Dialects and nationalitiesEnglish, the Frenchtake capitals. Institutionsthe Houses of Parliament, the White House, the An glican Churchtake capitals. Days, months and officially characterized times of historyMonday, February, the Middle Agestake capitals. . . .Words getting from appropriate names normally take a capitalas Christian from Christ and Marxist from Marx. Be that as it may, whatever words, known as eponyms, have come into ordinary use and no longer take a capital.(Ned Halley, Dictionary of Modern English Grammar. Wordsworth, 2005) She laid the collapsed paper on the counter among us, and my eye got the words DISASTER, FAILURE and CRASH.(Eva Figes, Nellys Version. Secker Warburg, 1977) Patterns in Capitalization I am a writer: I doubt whatever begins with a capital letter and finishes with a full stop (Antjie Krog)Times have changed since the times of medieval original copies with expound hand-enlightened capital letters, or Victorian reports in which appropriate names, however for all intents and purposes all things, were given beginning tops (a Tradition valiantly kept up right up 'til the present time by Estate Agents). A glance through paper chronicles would show more noteworthy utilization of capitals the further back you went. The propensity towards lowercase, which to a limited extent mirrors a less formal, less respectful society, has been quickened by the web: some web organizations, and many email clients, have abstained from capitals altogether.(David Marsh and Amelia Hodsdon, Guardian Style, third ed. Watchman Books, 2010)If in question utilize lower case except if it looks absurd.(The Economist Style Guide. Profile Books, 2005) The Lighter Side of Capital Letters He had confidence in an entryway. He should find that entryway. The entryway was the best approach to . . . to . . .The Door was The Way.Good.Capital letters were consistently the most ideal method of managing things you didnt have a clever response to.(Douglas Adams, Dirk Gentlys Holistic Detective Agency. Wallets, 1987) Hymn Fisher: This is Scott ffolliott. Newspaperman, same as you. London journalist. Mr. Haverstock, Mr. ffolliott.Scott ffolliott: With a twofold f.Johnny Jones: How would you do?Scott ffolliott: How would you do?Johnny Jones: I dont get the twofold f.Scott ffolliott: Theyre toward the start, old kid. Both little fs.Johnny Jones: They cannot be at the beginning.Scott ffolliott: One of my precursors had his head slashed off by Henry VIII, and his better half dropped the capital letter to remember the event. There it is.Johnny Jones: How would you say it, similar to a stutter?Scott ffolliott: No, simply straight fuh.(Laraine Day, George Sanders, and Joel McCrea in Foreign Correspondent, 1940)
Posted by Landon Harvey at 4:41 PM
Friday, June 12, 2020
Taxation Of Junk Food: Should Junk Food Should Be Taxed? (Essay Sample) Content: InstructorCourse TitleStudents nameDateImportance of taxing sugary beverages/junk foodIntroductionThe government of a state is responsible for initiating taxes on goods whether they are consumables or not. The taxation is a good source of income for a country. The government of the day determines what to tax and what not to tax. Despite being a source of income to a country, taxation may be used to discourage the consumption of certain goods especially when it is fixed at a high rate. For instance, the taxation of tampons may not be encouraged, but the consumption of a sugary food may be highly recommended. Goods defer with the intention in which they are used. A good taxation scheme as well should differ with the type of goods. This study evaluates why the taxation of sugary food is highly recommendable, and the consequent role this taxation will play in the consumption of such foods.There has been increased consumption of the sugary food over the last years. The tre nd of consuming these goods is on the increase thus warranting a good policy to curb it. This is because there have been reported several cases of health risks that come as a result of consuming such foods and beverages. The junk food is a potential cause of diabetes, obesity, and other metabolic disorders. (Marron, Gearing Iselin 1). The need to control these consumptions is unquestionable. The introduction of the high tax rate is a powerful way of limiting the consumption (Block and Willet 1). When junk food and sugary beverages are consumed, they have the tendency of bringing dangerous diseases. The increased taxation will mean that the consumption will be decline. This is because the tax increases the price of these commodities. Thus, their demand will decrease. The low demand means that people will have little attention to such goods. The purchase and consumption will consequently be limited. Taxation, therefore, is a good means of limiting the consumption of junk food and sug ary beverages (Brownell and Frieden 1806). The failure to tax such foods will mean that the consumption will increase and people will be more prone to health risks. Most of these health conditions brought by the junk food have limited successful medications. For instance, the diabetes is a dangerous health disorder that is hardly treated especially if it has developed into the chronic stages. The taxation will ensure that only a few individuals get access to such foods since the highest population of people in many countries is made up of middle-income earners. This is an advisable strategy that will preserve the health conditions of individuals and ensure that the future generations will be secure.The need to tax the sugary beverages and junk food could be attributed to the increasing consumption of such foods which happens to be dangerous to humans health. In the US, its consumption has been increasing over time making it the main source of calories in the human body. The soft dri nks in the US have been the major source of the calories over the last twenty-five years. The intake has been regular, and this has led to several health implications, like the increased weight and diabetes (Block et al. 1427). It is thus clear that the increasing consumption will lead to more health disorders. Many people will suffer health conditions, and this effect will be felt in the entire economy of the country and world at large. The affected people will fail to remain productive in their workplace, and thus the production of the economy will consequently reduce. All these challenges can be controlled by instituting a proper taxation scheme on such foods. The high taxing rate will ensure the pricing of these commodities is increased, and this will serve to lower their demand. People will less contract the associated health disorders hence the productivity of an economy will remain unaffected. It is clear that most of the consumers use commodities which are in demand. Everyon e seeks to remain in fashion, and this means that they will consume what most people desire. However, the taxation of such goods will affect the pricing, and the demand will be lowered. Consequently, those people who consume as a result of the demand will be eliminated. It is indisputable that such people are the majority in the purchase. The extravagant class of people is always low across the economy.The consumption of junk food and sugary beverages means that some of the nutritious food will be forgone thus supporting the wrong and unhealthy food when the right food remains unused. This has adverse effects on the companies producing the healthy food. The junk food companies will take over the market for consumables when such foods are taxed lowly or have the same level of taxation with over foods. The sugary beverages are mostly used because of their gravitating taste but not because of their nutritional value. When such food companies are allowed to take over the market, the cou ntry will suffer. This is because of their associated health conditions. According to the study conducted, children and young adults prefer these type of foods, and they are happy to consume them regularly (Veerman et al. 2). The consumption of junk food and sugary beverage by the young people is an indisputable way of ruining the prosperity of the future generation. This is because such people will develop the health disorders early and thus their working lifesp...
Posted by Landon Harvey at 7:26 AM
Sunday, May 17, 2020
Critique on Leadership: A Communication Perspective Summary Ã¢â¬Å"Effective leadership is the product of the creation and delivery of inspiring and compelling messages.Ã¢â¬ (Hackman Johnson, 2009, p. 336). This book is a comprehensive review of historical insights, current theories and recent research on leadership theories and leadership issues, with an emphasis upon how effective leaders communicate. Leadership: A Communication Perspective is based on the current and somewhat American idea that leadership can be learned and anyone can be a leader. Leadership is viewed as an interaction between leaders and followers, in which shared goals are discovered. Humans are unique in their use of symbols. As leaders, this ability to createÃ¢â¬ ¦show more contentÃ¢â¬ ¦Hackman and Johnson (2009) provide the needed communication techniques, characteristics and goals to become effective in each of these areas. They also practically provide insight into ineffective techniques, the styles and characteristics that need to change for an individ ual to effectively lead. After a comprehensive review of historical and current theories, the authors discuss practical implementations of leadership in such areas as diversity, crisis management, and leadership development. Personal Response Leadership: A Communication Perspective was clear, comprehensive and easy to read. The use of examples of successful leaders who had implemented each theory was inspirational and helped to further explain each theoryÃ¢â¬â¢s implementation. The use of case studies, self assessments, and application exercises kept the focus on how the reader can change and become a more effective leader. The use of Ã¢â¬Å"Spotlight on TechnologyÃ¢â¬ and Ã¢â¬Å"Leadership on the Big ScreenÃ¢â¬ , kept it interesting and made it more personally applicable. This writer is interested in other cultures and especially enjoyed the sections on Ã¢â¬Å"Cultural ConnectionsÃ¢â¬ with its emphasis upon how cultural values impact the effectiveness of many theories or strategies. By emphasizing the spiritual and ethical dimensions of leadership the book demonstrates that leadership is more than behavior. Stephen CoveyÃ¢â¬â¢s Ã¢â¬Å"The 7 Habits of Highly EffectiveShow MoreRelatedThe Timeless Quality of the Foundations of Excellent Leadership1177 Words Ã |Ã 5 PagesFoundations of Excellent Leadership Are Timeless Introduction It is often said that a manager is what one does and leader is who one is. This is especially the case during times of turbulent economic, social and political change. In the debate of whether the effectiveness of a leaders communication skills is dependent on their age or generation, one must take into account one of the most critical skills in any leaders skill set, and that is emotional intelligence (EI) (Avolio, Yammarino, 2002)Read MoreApplication For Successful Electronic Health Records947 Words Ã |Ã 4 PagesReflection Paper Introduction As per Fenton, Giannangelo, Stanfill (2006), Workflow, project management, personnel, training, support, communication, motivation, vision, leadership and evaluation, are essential considerations for successful electronic health records (EHR) implementations. HI 5329 Assessment and Evaluation course utilized a team work practical approach that covers explicitly or implicitly the majority of those considerations. The first six modules within this course focused mainlyRead MoreCritique of MeindleÃ¢â¬â¢s Management and Leadership Styles1177 Words Ã |Ã 5 PagesCase Analysis: Zelte USA By Kimberley Coleman Strayer University BUS 520 Critique MeindleÃ¢â¬â¢s management and leadership styles. MeindleÃ¢â¬â¢s approach to management resembles a hierarchal structure, with orders coming down from the top with very little upward communication. He didnÃ¢â¬â¢t pay much attention to individual personalities. Maintaining tight control over all company operations was the way Meindle managed Zelte. He refused to allow other sales representatives to contact the companyÃ¢â¬â¢sRead MorePractices of Leadership Contribute to Managing Communication in the Post Bureaucratic Era1415 Words Ã |Ã 6 PagesIn this essay, I am going to discuss how practices of leadership contribute to managing communication in the post bureaucratic era. This essay shall discuss the effectiveness of leadership approaches in the post bureaucratic era in managing communication in organizations. In section 1, I shall discuss leadership in terms of communication by drawing upon the article by Barry B. (2007). In addition, I shall also discuss the use of communication in running an organization in a le aderÃ¢â¬â¢s desired way (JackRead MoreThe Hidden Curriculum, And The Way That Social Classes Work Within The School System1512 Words Ã |Ã 7 Pagessocial classes of schools and the impact of the curriculum being effected by the class of the institution. In class, weÃ¢â¬â¢ve yet to touch strongly on the topic of Special Education, and this field is one that intrigues me as the styles and types of communication that are used are different than what I personally have experience with. A lengthy text at 55 pages, the document walks through the different resources that are used for students with Special Education Needs in regards to conflict resolution andRead MorePersonal Statement : Pursue School Counseling914 Words Ã |Ã 4 Pagesas a school counselor. I am currently a communication major and human services minor. Though communication may not be the prerequisite field of choice, as say psychology, I feel that it has equipped me with a unique perspective on people. For four years now I have learned what healthy, effective communication looks like and how to apply it. I have taken courses in interpersonal, gendered, business, non-verbal, and leadership communication. My leadership classes have been particularly helpful inRead MoreSch ool Wide Change Management Requires An Effective Process1587 Words Ã |Ã 7 Pagesprocess involves a clear vision, collaboration, communication, accountability, and thorough evaluation. Inspiration leadership requires leaders to be visionaries that can guide people toward a clear, detailed vision of the future with a firm hand. Goleman refers to this type of leadership as Ã¢â¬ËVisionaryÃ¢â¬â¢ leadership (Goleman, 2002, p. 58). In order to create effective change, one must know the direction the school needs to take. This requires the leadership to be transparent regarding the data and causeRead MoreI Am Experiencing Through Self Assessment1674 Words Ã |Ã 7 Pagesgoals and plans into a cohesive whole. When a team is successful, it funnels the energy of team members for the overall good of the organization. Aligning my strength of team building with effective communication skills Critical factor in team success is Effective Communication skills- Communication supports each of a managerÃ¢â¬â¢s P-O-L-C functions. The ability to effectively communicate is a necessary condition for successfully planning, organizing, leading and controlling. It is how we coordinatesRead MoreDpt Essay Examples726 Words Ã |Ã 3 Pagesprofessionals to help serve the diverse patient populations in any future setting. Being able to critique my fellow students as well as being critiqued myself would further enhance my ability to learn. As a student-athlete balancing both academics and athletics, I have learned the importance of working alongside others towards a common goal and have gained valuable work ethic skills. I have also learned how leadership plays an essential role in reaching that goal. Additionally, working as a Certified NursingRead MoreThe Transformational Leadership Model Of A Business Environment1426 Words Ã |Ã 6 PagesThere are several different theories that can be applied to leadership. Hence, there are no right or wrong theories, purely just diverse perceptions. The trait theory of leadership believes that leaders are born and not made. This theory claims that leadership is inherited, and great leaders are born with natural leadership traits. Zaccaro, S. J. (2007) defines this as a Ã¢â¬Å"unique property of extraordinary individuals whose decisions are capable of sometimes radically changing the streams of historyÃ¢â¬ [Pg6]
Posted by Landon Harvey at 5:41 PM
Wednesday, May 6, 2020
Essays on Return On Capital employed (McBride plc) Essay Introduction Critical study of capital structure attempt to show the growth in capital employed and also explains the mixture of securities as well as other capital sources use by corporation and individuals to finance any real investment. Most of the research on capital structure focuses on the proportions of equity to debt ratio observed on the companyÃ¢â¬â¢s balance sheet statement. Considering the first landmark work of Millar and Modigliani (1963), a number of theories would be used to predict and explain the company leverage behavior as one of the key cornerstone for determining the worthiness of a sound investment. Therefore this research will provide a more insight into empirical determent of the target capital structure of McBride Plc so as to evaluate the return on capital employed which is the main component is assessing the money value realized by any investor in the shares of this companies that are listed in the UK stock exchange. Return on capital employed is conside red to be the most appropriate and the best measure of profitability of any company in order to assess and determine the overall performance. It shows how well management has used the investment made by the creditors and owners into the business. For any investor who would like to make an appropriate and a profitable investment decision, then, determination of return on capital employed would be one of the key indicators of firmÃ¢â¬â¢s worthiness as well as financial soundness. Findings McBride is one of the largest suppliers of private personal care and labeled household product in its major markets in the United Kingdom and increasingly to Poland. It works so closely with the stake holder who has a significant influence on the ongoing success of the business. The group customers are the most leading retailers across Europe which has been achieved by maintaining and developing an excellent customer service relation. The UK market private Label House sales grows by 4 % in an overall market that grew by 1%, where as personal care also grew by 4%, this shows that group operates in a highly competitive and dynamic market characterized by increasing customer concentration, the growth of discount retailers, numerous private label as well as branded competitors evolving customer product preferences and the selling pressure. This positive and stable trend has given McBride an advantage over other rival companies, therefore guaranteeing all the investors a higher return of the capital employed while investing in this company. The capital structure of McBride shows a constant common stock of 18.1M for all the three year and a huge additional capital. This clearly indicates that the company is anticipating to improving the financial position in future. Analysis To determine the growth of McBride Company, there is need to screen the companies year to year as well as three year growth in the overall sales and earnings which is preferable 20% 0r above for any financially sound company. Where as, the return on capital (ROC) should be at least 10% so as to find some potential competitive advantage over investors. According to the findings above, there is more capital employed in to business so as to finance the company operation rather than over relying on debt as a source of capital. In determining the capital employed the following formulas is used; Return on capital employed=fixed assets+ investment+ Current assets Net capital employed= Fixed assets+ investment+ working Capital Where working capital =current assets-current liabilities Comparing the three consecutive years 2009, 2010 and 2011, based on the balance sheet statement provided in the appendix 1, the following results would be used to evaluate the progress to the company in order for the investor to make a health investment decision. In the year 2009, ROCE=227.5+1+203.6=432.1 NCE=227.5+1+ (203.6-220.4) =211.7 In the year 2010, ROCE=220+1+218.1=439.1 NCE=220+1+ (218.1-229.3) =209.8 In the year 2011, ROCE=265.9+1+252.1=519 NCE=256.9+1 + (252.1-278.9) =231.8 % growth in = (231-209)/209*100=22% The result shows that the overall return on capital employed is increasing from the year 2009 to 2011, which shows a positive growth of 22% as seen in the current period computation. This is attributable as a result or more sale made by the company which intern increases the amount of revenue collected. A growth of investment strategy can be combined with the value investing concept so as to give a performance a lift and limit the downside risk exposure. One has to remember buying growth companies stock when the prices are cheap i.e. growth at a reasonable price (GARP) and later sale when the prices are high so as to realize more returns. Conclusions The investment strategy adopted by the client is referred to as growth investing strategy which involves investing in accompany that grows very fast. Any stock with superb growth prospect, financial health, steady growing stock price and expanding profitability tend to attract more investors, fund managers and bankers who are the key movers of the market. Considering the calculation in determining the overall return expected for investing in McBride plc, then it is worthy for the client to invest his pound one million in this companies. This amount will considerably be realized in future as the market condition of UK is guaranteed as well as the company performance is anticipated to perform better. Appendix 1: McBride Plc Balance sheet statements for the three years (2009, 2010, 2011) Ã 2011 2010 2009 Period End Date 06/30/2011 06/30/2010 06/30/2009 Assets Ã Ã Ã Cash and Short Term Investments 9.6 5.0 2.8 Total Receivables, Net 149.1 133.8 128.8 Total Inventory 81.6 69.9 68.0 Prepaid Expenses 5.5 3.6 4.0 Other Current Assets, Total 6.3 6.3 0.0 Total Current Assets 252.1 218.6 203.6 Ã Ã Ã Ã Property/Plant/Equipment, Total - Net 190.9 179.9 189.2 Goodwill, Net 34.9 32.9 29.7 Intangibles, Net 3.7 5.4 5.7 Long Term Investments 0.0 0.0 0.0 Note Receivable - Long Term 0.0 0.0 0.0 Other Long Term Assets, Total 3.1 3.5 3.1 Other Assets, Total 0.0 0.0 0.0 Total Assets 484.7 440.3 431.3 Liabilities and Shareholders Equity Ã Ã Ã Accounts Payable 169.5 141.4 133.3 Payable/Accrued 0.0 0.0 0.0 Accrued Expenses 35.6 39.5 38.8 Notes Payable/Short Term Debt 46.5 15.0 25.7 Current Port. of LT Debt/Capital Leases 0.8 0.4 0.8 Other Current Liabilities, Total 26.5 33.0 21.8 Total Current Liabilities 278.9 229.3 220.4 Total Long Term Debt 46.0 49.6 58.7 Deferred Income Tax 11.4 11.4 14.3 Minority Interest 0.6 0.6 0.0 Other Liabilities, Total 23.0 25.3 19.4 Total Liabilities 359.9 316.2 312.8 Redeemable Preferred Stock 0.0 0.0 0.0 Preferred Stock - Non Redeemable, Net 0.0 0.0 0.0 Common Stock 18.1 18.1 18.0 Additional Paid-In Capital 139.9 143.5 143.5 Retained Earnings (Accumulated Deficit) -33.2 -37.5 -43.9 Other Equity, Total 0.0 0.0 0.9 Total Equity 124.8 124.1 118.5 Ã Ã Ã Ã Total Liabilities ShareholdersÃ¢â¬â¢ Equity 484.7 440.3 431.3 Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Bibliography; Rajang, R, G, Zing ales, L, 1977, what do we know about capital structure choice? Some evidence from international data, Journal of Finance, 50(5), 14212-60 Ro, B, T, 1999, the disclosure of capital information and stock prices, Journal of accounting research, 16(2), 315-340 Beattie, V, Edwards, K, 2003, Issue concerning Business reporting: an analysis of the views of interested parties, British Accounting Review, 35(2), 155-187 Bevan, A, A Dan bold, J, 2002, Capital structure and its determination in the UK, applied financial economics, 12(3), 159-170 Hertz, R, H, 2003, a year of change and change for the FASB, accounting horizon, 17 (3), 247- 255 http://moneycentral.msn.com/investor/invsub/results/statemnt.aspx?lstStatement=Balancestmt View=Ann symbol=GB%3AMCB Joshi, L, P, Ramadan, S, 2002, adoption of international accounting standards by small and closely held companies: evidence from Bah ran, journal of accounting, 37(4) 429-440
Posted by Landon Harvey at 7:36 PM
The lies of the multi-year fraud have been revealed and exposed, accusing Mr. Schushy by the Securities Exchange Commission (SEC) in falsely exaggerating HealthSouth earnings. In this paper, I will analyze organizational culture of that Richard Scrushy has created, and the consequences of the financial fraud that has occurred at HealthSouth. ScrushyÃ¢â¬â¢s background ScrushyÃ¢â¬â¢s story of climbing the ladder is quite impressive. Richard Scrushy was a High school dropout. He got married at a young age to his first wife with whom he had two hildren. Scrushy was a diligent provider in the family. While residing in the trailer park and working hard, Scurshy got very frustrated and dissatisfied with his life. Therefore, he chose to obtain a certification through college as a respiratory technician. Eventually, Scrushy became an instructor of Respiratory Therapy at the University of Birmingham. After serving years as an instructor, he was able to become a director of the respiratory unit at a Birmingham hospital. We will write a custom essay sample on The Scrushy Way or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Then, in 1979, Scrushy transitioned into Life-mark Corporation, a company that managed hospitals. Once again, Scrushy was able to rise up the ladder in the company. He held several positions at Life-mark, and eventually became a corporate director. There he was, at the age of twenty-eight, a successful young man, who has made himself. (Matulich, 2007). Jennings(2012) described the start of HealthSouth in steps. Frist, Life-mark was acquired in 1983. Scrushy had many brilliant ideas; one of them consisted of incorporating a rehabilitation services for patients at a lower cost. This new line of service would make an organization a Ã¢â¬Å"one stop shopÃ¢â¬ , providing patients with surgery, rehabilitation, and much quicker ecovery. Scrushy was able to put his idea into practice, forming HealthSouth (Jennings, 2007). Scrushy in the public eye It is interesting to study Mr. Scrushy and his business practice. He was a person, who was comfortable at living a double life. On one side, he was a charismatic, kind, generous, and very likable individual. Scrushy was loved by most celebriti es, and he was, indeed, a celebrity. He had that lifestyle: a jet, several homes, multiple cars, and a lot of money. Scrushy was an influential figure; his name stood behind many growing businesses, endorsements, and promotional materials. He lived a life, where money could buy everything. As a business man he was a dynamic risk taker, excellent goal setter and achiever. Scrushy as a CEO Unfortunately, Scrushy had another personality as a CEO that only his employees knew about. Helyar (2003) wrote about ScrushyÃ¢â¬â¢s ways of getting things accomplished. Helyar described Scrushy as a terror CEO, who created a very intimidating, controlling, based on fear and pressure corporate culture. His meetings were torture and pure harassment; many employees have reported that they were humiliated, made fun of, and treated with disrespect. As the company grew, Richard Scrushy was becoming more and more paranoid. He hired bodyguards, made special entrance ways to the buildings for himself, and spied on his employees. (Helyar, 2003). HealthSouth during the good times The company was performing extremely well in through the mid- 1990s. HealthSouth was the largest Healthcare organization in America, fortune 500 company on the list, with winning stock market record. Scrushy in public was viewed as the most loved, admired, and high paid CEO in the Healthcare industry. From the outside, HealthSouth was doing unbelievably well. As Jeanine Ibrahim (2013) described, Scrushy lived high, putting Ã¢â¬Å"charismatic exterior on the showÃ¢â¬ . Therefore, on the outside, there were no external flags raised, but on the inside, the organization was boiling. Collapse of HealthSouth In 2002, Scrushy started to have a bad feeling about the organization. He sold a lot of his shares, and was determined to divide the company in half and separate the finances. He was on the way out, when all fiasco has started in the accounting department. The financial problem that originated in the 1996, instead of being revealed, got covered with fake numbers, and the umbers grew year after year. After the former CFO, Weston, blew the whistle, the process of the investigation has begun. The audits were performed and the findings were announced. According to Bergeniv,Magath, and Weld (2004), a very through audit conducted by PricewaterhouseCoopers noted that HealthSouth Corporations cumulative earnings were exaggerated by anywhere from $3. 8 billion to $4. 6 billion. HealthSouth agreed to the forensic audit discovery of at least another $1. 3 billion dollars in suspect financial reporting in addition to the previously estimated $2. 5 billion. The very last report found additional fraud of $500 million, and secured at least $800 million of improper money usage for high bonuses, third party transactions, and accounting reserves. These very findings have put an end to the long term fraud activity at HealthSouth. Fifteen employees, mostly executives and accountants came forward with, claiming their guilty involvement in the financial fraud. The CEO of the company, Scrushy, denied any knowledge of the ongoing fraud in the organization. Impact on Stakeholders The fraud at HealthSouth had a very negative effect on the stakeholders. There was a lot of pension money invested by many people. Employees, customers, and patients also had money invested in HealthSouth stock market. In 2003, it became obvious that the fraud situation at HealthSouth has caused investors a serious damage and loss. Outcome and Fairness of Punishment It is interesting to see that Scrushy got lucky even in the trial. The jury did not find him guilty. While his employees went to prison for the fraud they conducted, Scrushy was safe. Though there is plenty of evidence that he orchestrated the fraud, the court found him not guilty. The federal government was shocked and disappointed. However, ScrushyÃ¢â¬â¢s freedom was only short lived, due to the next trial, based on the political bribery charges, that put him in jail for 82 months (Pavlo, 2012). Besides his jail time, Scrushy was also made to pay back $36 million fine and give away his assets. Conclusion I believe, to this day, there are people who struggle to answer the question of who Richard Scrushy really was in the business arena. Some continue to think of him as a business genius, but maybe, the facts speak for themselves. Though he denied any involvement in the fraud occurrence, the evidence was established to confirm that he was aware of many ongoing fraudulent activities in the finance department at HealthSouth. As a CEO, his job was to know and approve the budgets and check all the balances. Perhaps, he was both: a self-made, hardworking, and unbelievably smart person, who lacked business ethics and allowed his personal interests to be present in the core of every decision that was made. According to Werner (2003), it really did not matter in 2003, because everybody lost back then. Unfortunately, not just he reputation of Richard Scrushy suffered; the government, stakeholders, and the whole society, in general, have failed and suffered as well. The government failed to control the auditing from the very start of this organization, therefore, the stakeholders lost their money, resulting in the negative influence on the American society and economy. Based on this story of HealthSouth and many others throughout the course, it is discouraging to see the effects of the money and power on the human being. A chance, that an individual will do the right thing appears very slim when big money and power are involved.
Posted by Landon Harvey at 1:37 AM