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biography cover Malcolm X was born Malcolm Little on May 19, 1925 in book comparison Omaha, Nebraska. His mother, Louise Norton Little, was a homemaker occupied with the family#8217;s eight children. His father, Earl Little, was an outspoken Baptist minister and avid supporter of Black Nationalist leader Marcus Garvey. Earl#8217;s civil rights activism prompted death threats from the white supremacist organization Black Legion, forcing the need development essay family to relocate twice before Malcolm#8217;s fourth birthday. Regardless of the Little#8217;s efforts to elude the Legion, in comparison 1929, their Lansing, Michigan home was burned to the ground. Two years later, Earl#8217;s body was found lying across the essay town#8217;s trolley tracks. Book! Police ruled both incidents as accidents, but the about moving Littles were certain that members of the Black Legion were responsible. Louise suffered emotional breakdown several years after the death of her husband and was committed to a mental institution, while her children were split up among various foster homes and orphanages. Eventually, Malcolm and book his long-time friend, Malcolm #8220;Shorty#8221; Jarvis, moved back to Boston.

In 1946, they were arrested and convicted on burglary charges, and Malcolm was sentenced to 10 years in need for personality development prison, although he was granted parole after serving seven years. Recalling his days in school, he used the time to further his education. It was during this period of book comparison, self-enlightenment that Malcolm#8217;s brother Reginald would visit and discuss his recent conversion to the Muslim religion. Reginald belonged to the religious organization the Nation of Islam (NOI). Intrigued, Malcolm began to study the teachings of NOI leader Elijah Muhammad. Muhammad taught that white society actively worked to keep African-Americans from empowering themselves and achieving political, economic, and social success. Among other goals, the NOI fought for a state of their own, separate from lambda report, one inhabited by white people.

By the comparison time he was paroled in 1952, Malcolm was a devoted follower with the new surname #8220;X#8221; (He considered #8220;Little#8221; a slave name and chose the #8220;X#8221; to signify his lost tribal name.). Intelligent and example articulate, Malcolm was appointed as a minister and national spokesman for the Nation of Islam. Elijah Muhammad also charged him with establishing new mosques in cities such as Detroit, Michigan, and comparison Harlem. Malcolm utilized newspaper columns, as well as radio and homework television, to communicate the NOI#8217;s message across the United States. Book! His charisma, drive, and conviction attracted an lambda book astounding number of new members. Malcolm was largely credited with increasing membership in the NOI from 500 in 1952 to 30,000 in 1963. The crowds and controversy surrounding Malcolm made him a media magnet. He was featured in a weeklong television special with Mike Wallace in 1959, called The Hate That Hate Produced. The program explored the fundamentals of the NOI, and tracked Malcolm#8217;s emergence as one of its most important leaders.

After the special, Malcolm was faced with the book uncomfortable reality that his fame had eclipsed that of his mentor Elijah Muhammad. In addition to the media, Malcolm#8217;s vivid personality had captured the example good essay government#8217;s attention. As membership in the NOI continued to grow, FBI agents infiltrated the organization (one even acted as Malcolm#8217;s bodyguard) and secretly placed bugs, wiretaps, cameras, and other surveillance equipment to monitor the group#8217;s activities. Malcolm#8217;s faith was dealt a crushing blow at the height of the civil rights movement in 1963. He learned that his mentor and leader, Elijah Muhammad, was secretly having relations with as many as six women within the Nation of comparison, Islam organization. As if that were not enough, Malcolm found out that some of need development essay, these relationships had resulted in children. Since joining the book NOI, Malcolm had strictly adhered to the teachings of Muhammad, which included remaining celibate until his marriage to Betty Shabazz in an essay about friend 1958. Malcolm refused Muhammad#8217;s request to help cover up the comparison affairs and subsequent children.

He was deeply hurt by essay Muhammad#8217;s actions, because he had previously considered him a living prophet. Malcolm also felt guilty about the masses he had led to join the NOI, which he now felt was a fraudulent organization built on book comparison, too many lies to ignore. Shortly after his shocking discovery, Malcolm received criticism for a comment he made regarding the assassination of President John F. Kennedy. #8220;[Kennedy] never foresaw that the chickens would come home to roost so soon,#8221; said Malcolm. Book Report! After the statement, Elijah Muhammad #8220;silenced#8221; Malcolm for 90 days. Malcolm, however, suspected he was silenced for comparison another reason. In March 1964, Malcolm terminated his relationship with the NOI. Unable to look past Muhammad#8217;s deception, Malcolm decided to found his own religious organization, the Muslim Mosque, Inc. That same year, Malcolm went on a pilgrimage to Mecca, which proved to to a, be life altering for book him. For the first time, Malcolm shared his thoughts and beliefs with different cultures and thesis statement found the response to be overwhelmingly positive.

When he returned, Malcolm said he had met #8220;blonde-haired, blued-eyed men I could call my brothers.#8221; He returned to the United States with a new outlook on integration and a new hope for the future. Book! This time when Malcolm spoke, instead of statement holocaust, just preaching to African-Americans, he had a message for book all races. After Malcolm resigned his position in the Nation of Islam and renounced Elijah Muhammad, relations between the two had become increasingly volatile. FBI informants working undercover in the NOI warned officials that Malcolm had been marked for development essay assassinationone undercover officer had even been ordered to help plant a bomb in Malcolm#8217;s car. After repeated attempts on his life, Malcolm rarely traveled anywhere without bodyguards. On February 14, 1965 the home where Malcolm, Betty, and their four daughters lived in East Elmhurst, New York was firebombed. Luckily, the family escaped physical injury. One week later, however, Malcolm#8217;s enemies were successful in their ruthless attempt. At a speaking engagement in the Manhattan#8217;s Audubon Ballroom on book comparison, February 21, 1965, three gunmen rushed Malcolm onstage.

They shot him 15 times at college to a close range. The 39-year-old was pronounced dead on arrival at New York#8217;s Columbia Presbyterian Hospital. Fifteen hundred people attended Malcolm#8217;s funeral in book Harlem on February 27, 1965 at the Faith Temple Church of God in holocaust denial Christ (now Child#8217;s Memorial Temple Church of God in Christ). Book Comparison! After the ceremony, friends took the shovels away from the waiting gravediggers and buried Malcolm themselves. Later that year, Betty gave birth to their twin daughters. About Moving To A New Country! Malcolm#8217;s assassins, Talmadge Hayer, Norman 3X Butler, and Thomas 15X Johnson, were convicted of first-degree murder in March 1966. The three men were all members of the Nation of Islam. Malcolm X’s legacy has moved through generations as the subject of numerous documentaries, books, and movies. A tremendous resurgence of interest occurred in 1992 when director Spike Lee released the acclaimed movie, Malcolm X. The film received Oscar nominations for Best Actor (Denzel Washington) and Best Costume Design.

Malcolm X is buried at book the Ferncliff Cemetery in Hartsdale, New York.

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JOBSEARCH: Resume Spider (not recommended) This came up on book comparison my radar and I took a look at thesis, it. And this big fat old turkey is unimpressed. Anytime you have to hunt for how much something costs that to me is a big red flag. In looking at it, I had three observations: (1) It suffers from comparison what I call LinkedIn syndrome — you can only have one resume — so how can you customize for the oppty under consideration; (2) It’s three blind mice — who is looking at your resume, who is submitting it duplicatively (I lost a job that way), and who are you selling into.

(3) It costs the seeker money. So it has a lot of homework homework, negatives in my mind. Any one of comparison, these would turn me off. One time fee – 3 distributions. We will email your profile to example essay, recruiters, employers and corporate hiring managers that have registered at ResumeSpider to receive your information.

These targeted leads are matched by your desired job function, industry and book, location. Resume Distribution Plus. Same as Plan A. We also provide you their contact information, track who has opened and evaluated your resume, and give you access to the SpiderTalk private messaging system. (Valued at $119.85) Same as Plan B. In addition, you now have access to our Industry List containing 100s or 1000s of company contacts. We do not send your resume to this list; however this list provides you a minimum of thesis holocaust denial, one key contact name at companies targeted by their office locations and book, their respective industries. If you are applying to thesis statement denial, job ads, you usually don’t know who received your resume, so this information can very helpful because now you have a name to contact. Please leave a Reply Cancel reply. I just got spammed by Resume Spider (that’s never a good sign, is book, it?) and a subsequent Google search led me here.

My suspicions seem to need for personality development essay, be pretty much confirmed. Book Comparison! What’s amazing to me is that, as I understand it, they they charge you money for their service and give you a refund if they find you a job. So rather than changing a commission if they succeed they charge you if they fail! That’s backwards, my friends. My search also revealed that Resume Spider apparently Googles their name often and homework, follows up trying to book comparison, counteract negative comments on blogs like this. Virtually every negative post I found had a reply from homework homework Resume Spider. And the few positive follow-ups from others looked suspiciously like shills (notice that “Greg David” above has a home page link of… http://www.resumespider.com). I have used Indeed for comparison, several months and about, found the jobs posted are better than most. I would recommend Indeed over resumespider any day. It is free and you can get job alerts on a regular basis. Good luck in your job hunting.

Networking works to. Call old friends you worked with in the past. Well Greg,what can I say except that I totally disaggree with you…….. Maybe you are (1) one company in book comparison, a hundred that uses them, but most companies never see the example of a essay resumes that are sent because the IT deaprtments block their resumes as SPAM. So how much of a fee do they pay you to push their employment search service at your conferences or meetings? Know what SPAM is? They (the mailings)never make it to the right people, get deleted from book comparison their company mail servers. How do I know this, because a few of the thesis statement holocaust denial 600 plus that were sent out, told me to stop sending them to book comparison, them…….I told them I couldn’t. Their IT departments are having to remove them from the CAUGHT emails and dump them every day so the mail server can handle the lambda real business emails within and outside as well.. The others that I called to comparison, see if they really got them and reviewd them, the ones that were reported back to an essay friend, me, that were supposelied viewed, also told me they never got opened, never made it to the HR departments or the Hiring managers.

So in closing. I did my homework, but not till after I had done the mailings with not one darn contact whatso ever for an interview or not even a phone call follow up. I should have done my homework before I signed up for their service, had I done that I would never have tried them. I was one of the lucky ones, I got my refund, others were not so lucky…… I cannot comment on the experience that others here have had, but I can tell you that our firm uses ResumeSpider as well as many other organizations to book comparison, receive resumes on moving new country those in active search mode. For us, it is book comparison, a great tool and we are pleased to be able to help those in need. Each month, I spend a significant amount of time and effort speaking at employment conferences and job workshops and about moving, despite what is book, written here, I regularly receive positive and good feedback on ResumeSpider. Can’t tell you why a handful of people each month do in fact share positive feedback while others here have not experienced it—can only an essay, share what I hear. I have investigated the firm, and to call it a scam is book, not true nor accurate. They are an established and legitimate firm.

Having observed them and many like them for the last several years, I personally have had no negative experiences with them, nor has anyone at an essay about friend, any of the employment conferences I speak at shared such commentary. In today’s job market, not spending money on a job search does one thing—it prolongs a search. If you are new to the job market, do your homework and spend some money. Book! You may choose to report, use ResumeSpider or another tool like it, or you may not. But I can tell you that getting your resume into the proprietary databases of all the search firms and corporations that do utilize such services like we do is invaluable. I would estimate that someone already in our database before we have a search they fit, is more than 5 times likely to be considered versus someone who hears of the search and tries to network their way in or sends their resume in response to hearing of the opening. Do the homework yourself and comparison, make an informed decision. Resume Spider is a scam! I am glad most people here are aware of that and can spread the word out and save people money.

Resume Spider Employee’s stop posting that this is about, not a scam, because it is…………. DON’T FALL FOR IT PEOPLE. Thanks for all the feed back on spider monkey( oops, I mean resumespider. Book Comparison! You have saved me time, $$ and aggrevation. Well after many emails and conversations, I got my refund back for my money spent. Nice to see the example of a essay other comments from the comparison so called people that are so called signed up to example, recieve their blasting..as noted by Stacy and comparison, John, Just as I told Steve at about, Spider, they never open them, never receive them because of spam blocking programs….

To those reading this, follow the advise of others, don’t pay to comparison, use them. Stay with what is proven, might take longer, but you will not waste you money. As a former recruiter, I received many of example of a essay, these so-called “resume submissions”. Book! In my estimation, I received 1 resume in about, 5 years that was even remotely related to book comparison, what my company did. Most of them were blocked by need for personality our various firewalls and comparison, such.

If they did get through, I usually deleted them quickly. In my own job search, I now subscribe to the “buyer beware” mindset which is what led me to this blog. I would not pay a resume writer service nearly $700 to homework, rewrite my outdated resume. What makes Steve think that I am going to comparison, pay up to $100 plus to have someone spam my resume to countless inboxes to have them deleted instantly. One last point, the “networking” that he describes in his response is not true networking. That is simply list building through cold calling. Essay! What I really want to know is how OFTEN these lists are updated. As we all know, this economy is awful and recruitment is usually the book comparison first area to statement, suffer. Names are worthless if they are no longer valid.

I will stick to The Ladders, Indeed, CraigsList and the job portals (CareerBuilder, Monster, etc…) After reading the comments here and reviewing the RS services, I can see why so many are flying the red flag. Thanks to comparison, all, saved me $70.00. I’ll give indeed and monster a shot. I don’t know if they are a scam or not–I can’t believe the service would work–but they are nasty SPAMMMERS. I have clicked to about, remove myself from their lists a number of comparison, times. Sure enough, I get another email from “Rex Spelling” as ResumeSpider in due course (a week? two weeks later?). I am now blocking them with spam filters.

I don’t know if it’s fair to describe ResumeSpider as a “scam,” but the Big Warning Flag is that it’s basically a more elegant version of the for personality development essay old “resume blasting” services from a a decade ago. You know, the comparison ones that job hunting advice for lambda book report, the *last* decade has basically warned us not to use. The slightly “scam” part is, of course, that they’re charging you rather than the book employer. It’s great if they actually reimburse you if you get a job through them as they claim, but if you *don’t* get a job through them, then the bill is yours. I avoid any service that *requires* job seekers to thesis, pay, and have a strong antipathy toward services that are technically free, but constantly pressure job seekers to spend more money with them like JobFox. Well,, I have to add my name to those that SCAMMED by book comparison these guys…….. They did a mailing for me, 650 sent out, 98 were opened and read or evaluated as they say. 8 or 9 did reply to the mail site to good, say I was not a fit, but 98 out of 650 is les than 15% return on book comparison my investment…

I agree, why would I senf out another mailing to the same industries to only have them do the same. Seems to homework, me the number of the ones that did not even open and evaluate my resume, tells me they also have JUNK / SPA [rotestions on comparison their servers that prevent the mailings from thesis statement denial even going to book comparison, the right people. I am trying to get a refund now, and not making much headway with the perosn Steve that got me to try this…….. So in closing, I would not recommend this to anyone looking for a job or a service to help market you.. I am even think of sending in complaints to example of a good, Consumer Agency to have them looked into book If they refuse to refund my hard earned money……… DO NOT WASTE YOU MONEY ON THESE FOLKS…….. I also almost signed up for example of a essay, Resume Spider, but didn’t and had very positive results from looking on indeed.com and Monster.com. Monster is comparison, a great, great service; the best. Homework! They also offer resume distribution for book comparison, a price, but it’s on an if you want it level. If you want to spend your money on having help with distributing your resume, I would go with someone with a reputable name and established reputation and reliability.

I’ve never paid a cent with Monster and have gotten excellent results, several interviews and a couple of job offers. RESUME SPIDER SCAM. MY MOST RECENT EMAIL TO THE SPIDER SCAMMERS IN AN ATTEMPT TO GET A REFUND: SCAM ALERT! SCAM ALERT! SCAM ALERT! SCAM ALERT!

“Again, I haven’t had ANY responses (emails, Spider mail or phone calls) of ANY kind as you describe from your service, I have only had contacts from resumes that I have sent answering local classifieds. In addition, my response rate from your sight should be increasing, according to your sight and I have had “zero” as in NO responses. Why would I want you to distribute my resume again when there have been NO responses, does that make sense to you? Furthermore, what does it mean for a company that indicates it has “reviewed resume”? Am I supposed to call all 150 plus of homework, these so called ‘respondents”, waste their and my time to convince them that I am an “A” player and book comparison, should have been called by them? I have secured previous positions with the about friend resume submitted to your sight, beating out several hundred candidates, more than once.

Results oriented recruiters, the good ones, don’t work like that. Once again, don’t waste any more of our time, if your goal is my satisfaction, remove my account and credit me for book comparison, the amount charged or do a prorated amount at the very least.” USE: Indeed.com, Monster, SimplyHired or your local Sunday paper and need for personality development essay, your results will be just as 100% GUARANTEED as “Resume Spitter” and won’t cost you a dime…… Thanks guys for comparison, all your posts. I checked out the link on Gustavo’s post and, it’s true, ResumeSpider is ALSO a business opportunity. Thesis Denial! I don’t necessarily have a problem with that as long as the company provides a quality service for the cost of its membership, and I think therein lies the real discussion. I paid $55 for a Premium Package to book, advertise my car on Cars.com, but you know, it sold in book, 41 days at book comparison, my asking price.

Membership costs aren’t anything new, whether you’re looking for a date, discount merchandise, or roadside assistance. Example Of A Good Essay! The point is, just becuse there is a cost for a service doesn’t necessarily mean it’s a scam. I think one also needs to be realistic about book comparison employment expectations in this job market, and if your education, skills and employment history reflect the of a good position you’re applying for. That said, it’s not a service that I’ll be using (I’ve had good results with CareerBuilder), but I must admit, I’ve given the book business opportunity some thought. Other than this message board, I haven’t heard anything negative about the homework service, but it deserves looking into. Good luck to everyone. Thanks for this page- I almost paid for this and book comparison, I cannot afford to throw any money away right now. rsumespider looks good on the surface – but I have seem most of the jobs I was interested already posted somewhere else. So I do not think this program is that necessary. I will jsut keep checking the other free services and the one I subscribed to that I like IHIRE Hospitality, careerbuilder, Yahoo’s job site and essay, Craig’s list.

Good luck out there- it is a tough market for us right now. I heard about resume spider from a recruiter. Being the skeptic that I am I looked it up and found this page. Why would this recruiter be so enthusiastic about it ? Here is your answer: Easy Referrals Mean Big Commissions for You!

I wonder if just like with eHarmony and others you start receiving emails when your membership is comparison, about to expire… Follow the money … I used them 3 years ago and need for personality development, I’m going to book comparison, use them again today. I had to read some of the gossip after finding this link in my search results. Typical unimpressive crying and playing the for personality essay blame game. Probably spider’s competition trying to run their name thru the mud. Just contact spider yourself and get informed to see if it is book comparison, right for you. Be positive and need, take ownership over YOUR job search.

Peace! I opened my wallet to book, get my credit card to sign up for Resume Spider …but I thought it would be smart to Google it to see if I could find any feedback. You folks saved me $39. Off topic, I noticed a reference from Kris regarding indeed.com. Iwould appreciate any feedback on this site.

I wish I had read this before plunking down $70 of my hard earned cash. It appears that their “members” are no more than Johnny come lately freelancers looking to make a buck off of need development, your unemployment situation. I was supposed to have goyyen a 10% discount via a promotional code they supplied (NOT). When I called them on it; they never answered me! Save your money — it’s bad enough you have none coming in — why throw what you have away? Thanks Debbie, Kris and especially Steve, you just save me some money! Keep this posting right here so other people can see. I’m going to ditto Debbie…it’s a waste of money…they claim to send your resume out to a huge number of book, recruiters and companies….I’ve had 2 responses that led no where…you’re better off looking for example essay, jobs at indeed.com and submitting the resume on comparison your own.

I have to of a essay, agree with Debbie, just another scam. Comparison! I have several friends who took his bait, paid their money, and poof! The only leads they attracted were more people trying to sell them something. I think I would be very wary of about, posting my personal info to his web of “friends” who knows what they might do with it? In these days of comparison, rampant identity theft it’s wiser to an essay about friend, go with those that don’t have to charge you to help you.

Just my three cents– (inflation). Don’t bother. I have been with resumespider for 1 year and have had no results. Interesting idea you have. How would one find out comparison, how many companies you have in your database and how many are immediatly hiring for specific group of jobs prior to signing up? I am interested in your service but as we all know the USA. I found your posting this morning and thesis holocaust denial, would like to respond. It seems you may be somewhat confused on book what we do so I would like to have an example of a good essay, opportunity to get more information to you. ResumeSpider is book comparison, not a job board; like Monster, Careerbuilder, or HotJobs. We are not like Linkedin either.

If we were like any of holocaust, these I would agree with your 3 points. We are a career specific networking tool that offers a common-sense solution to book, decreasing the time it takes for an essay friend, you to develop a targeted list of comparison, contacts. These contacts, called Member Companies, have signed-up to receive resumes from ResumeSpider. Furthermore, the online reporting feature provides accountability by tracking the progress of your campaign. Good Essay! Other resume distribution services randomly email, fax, or manually send your resume to companies that haven’t asked for book comparison, it and report, are not expecting it. In most cases you never know who they sent your resume to, if somebody looked at it, and have no contact information to follow-up. The ResumeSpider matching technology closely resembles relationship matching websites Match.com and eHarmony. Comparison! Job Seekers are matched to Member Companies in the network based on their job function, industry experience and desired locations. About Friend! Then your profile is emailed to those select Member Companies. Book! ResumeSpider has 1000s of companies in an essay, their network and adds 400-500 new companies, on average, every month. The Member Company network consists of employers, executive search and recruiting firms that have joined ResumeSpider to receive resumes.

Most would agree that networking is comparison, a very important activity in homework, any job search and comparison, should be incorporated as soon as possible. Homework Homework! However, many people exhaust their personal network, don’t have a good network, and/or would prefer not to invest time to create a new one. For example, to book, do this on homework homework your own, you need to call into a company, find out if they hire your profile, then get a contact name, phone number and email address. Now duplicate that task 250 or 500 or 1000 times. Unfortunately this effort can take weeks or months with our own time and resources.

Using ResumeSpider’s Targeted Resume Distribution Service, you will benefit from our time saving approach targeted to your networking strategy. It is important to remember that your time is worth something! On average 80-85% of the jobs that were open were filled WITHOUT ever being advertised to comparison, the public. Furthermore, employers don’t want to pay $500-$2500 to post a job and search the online databases, especially with no guarantee they will find a candidate. That is why they only of a, advertise their critical or hard to fill positions. Comparison! Bottom line – don’t limit a job search to scouring the jobs ads. ResumeSpider is not the homework lone solution either and should be used with many other sources too. I’m not sure if you are in comparison, the career industry, but I will say that most job seekers that use ResumeSpider are referred from professionals in the career industry; Career Coaches, Resume Writers and Executive Recruiters.

Regardless, you seem to be very open-minded towards discussions like this, so I look forward to statement holocaust, hearing back from you soon. I have NOT received any gagged governmental information requests.

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Nike Inc.: Cost of Capital Essay Sample. In this report we focus on Nike’s Inc. Cost of Capital and its financial importance for the company and future investors. The management of Nike Inc. addresses issues both on top-line growth and operating performance. Book Comparison! The company’s cost of capital is homework, a critical element in book comparison such decisions and it is important to estimate precisely the weighted average cost of capital (WACC). In our analysis, we examine why WACC is important in decision making and we show how WACC for need for personality essay Nike Inc. is calculated correctly. Also, we calculate the company’s cost of comparison equity using three different models: the Capital Asset Pricing Model (CAPM), the Dividend Discount Model (DDM) and the Earnings Capitalization Model (EPS/ Price), we analyze their advantages and lambda book report, disadvantages and finally we conclude whether or not an investment in book Nike is recommended. Our analysis suggests that Nike Inc.’s common stock should be added to the North Point Group’s Mutual Fund Portfolio. I. Book Report! The Weighted Average Cost of Capital and its Importance for Nike Inc. The Weighted Average Cost of Capital (WACC) is the average of the costs of a company’s sources of financing-debt and equity, each of book comparison which is weighted by its respective use in the given situation. By taking a weighted average, we can see how much interest the company has to pay for an essay friend every marginal dollar it finances.

A firm’s WACC is the overall required return on the firm as a whole and, as such, it is often used internally by company directors to determine the economic feasibility of comparison expansionary opportunities and mergers. Also, WACC is the appropriate discount rate to use in stock valuation. II. Calculation of Nike’s WACC. The calculating methodology for Nike’s Inc. WACC seems to thesis holocaust, be inconsistent with the principles1 that should be followed when estimating this measure.

These are our points of disagreement with the book comparison calculations in statement holocaust Exhibit 5: – Calculation of the cost of debt by taking the total interest expense for the year 2001 dividing it by the company’s average debt balance, which is not appropriate for book comparison the WACC estimation. – Use as tax rate the sum of state and statutory taxes instead of the firm’s marginal tax rate. – Use of the Book Value of equity rather than the market value which is an essay, suggested as it gives more precise results. – Calculation of the book comparison cost of equity using long time period for risk free rate and risk premium. In order to make our justifications more comprehensive we need the formula for estimating WACC: WACC= Wd*Kd(1-T) + We*Ke. First, we reexamine the cost of debt (Kd) which in this case is the college essays new country yield to maturity (YTM) on the bonds. The YTM is a good estimate for the cost of debt if a company had issued debt in the past and book comparison, the bonds are publicly traded just as in Nike’s case. Our calculations for Nike’s yield to maturity based on the given data showed that Kd= 7.16%.c1 (See Appendix for detailed calculations)

The second variable that should be noted is T or the lambda tax rate. Book Comparison! In her calculations, Joanna Cohen added the thesis statement holocaust denial 3% state taxes to the 35% statutory tax where in WACC calculation the marginal rate should be used. The marginal tax rate generally refers to the “federal income tax that is book, levied onto the additional dollar earned” and usually is about 40%. The weights of the costs, Wd and We, are very important in example of a good essay calculating WACC as they show the company’s capital structure. In calculating that part of the equation, Joanna Cohen used the book values of book comparison debt and equity where the market values are suggested as they provide more accurate results. As book and market values of debt and equity may differ a lot, market values of debt and denial, equity give a closer estimation of the capital structure2. We calculate the enterprise value (P0*#shares outstanding = $11,427.4357m). For debt, the book value gives a close estimation for the current value, whereas the same doesn’t hold for the value of equity. Book Comparison! Thus, debt is equal to $1,296.6m (current portion of L-T debt + notes payable + L-T debt). In finding the weights, the previous explanation shows that equity is 88.65% whereas debt is 11.35% unlike Cohen’s calculations, which were based on book values (debt 27% and equity 73%).

There are three ways to calculate the cost of equity (Ke), which we will examine later. In our calculations of WACC we use the Capital Asset Pricing Model (CAPM), as it is for personality development, considered to be the most complete model for estimating the cost of equity. CAPM Equation is: Ke=Krf+ ?(Km-Krf)c2, where Ke is the book cost of equity, ? is beta that measures the tendency of a stock to move up and down with the market, Km is the required return of the market, Krf is the risk free rate and (Km – Krf) is equal to example of a essay, the market risk premium. For the Krf (risk free rate), we used the current yield on 10yr bond (5.39) U.S. treasuries, instead of the 20yr, as the 10yr matches the duration of cash flows for the Nike’s investment project (Exhibit 2) and because it is relatively less exposed to comparison, unexpected changes in inflation and the liquidity premium when compared to lambda, the longer 20 yr bond3. For the market risk premium, Km – Krf, we used the arithmetic mean (7.5%). We used the arithmetic mean of historic risk premiums to estimate the current risk premium on the assumption that the future will resemble the past regarding the premiums. Book Comparison! If this assumption is reasonable, then the annual arithmetic average is the theoretically correct predictor for the next year’s risk premium4.

On the other hand, the geometric average is for personality, a better predictor of the risk premium over a longer future interval such as, for the next 20 years. For ? we used the historic average of the past 6 years (0.8). After we calculate the cost of equity with CAPM (Ke= 11.39%), we plug our results in the given formula of WACC and book comparison, we get WACC=10.59c3. III. Alternative Methods of college to a Calculating the Cost of Equity. Although, CAPM approach is book, considered to be an accurate and precise estimate of Ke, there are two other models used by those analysts who do not have complete confidence in CAPM. These approaches are the Dividend Discount Model (DDM), which compares dividends forecasted for the next period with the current share price for the firm and then adds the growth rate of the good essay firm and the Earnings Capitalization Model (ECM), which compares forecasted earnings for the next period over the current share price. Our calculations, which are analyzed in the Appendix (c4 and c5 respectively), gave us the following results: Using DDM: Ke= 6.7%

Using ECM: Ke= 9.88% We can see that the comparison three different methods of calculating the cost of essay equity produced widely varied estimates. In such situations the financial analyst has to use his/her judgement as to relative merits of each estimate and then choose the book comparison estimate which seemed more reasonable under the circumstances. Comparing the already discussed methods, we found that the main advantage of example essay CAPM approach is that it takes into consideration a company’s market risk as the most relevant risk to comparison, stockholders, hence to determine the effect of the new activities and projects of the company on good, stock price. This method can be applied to book, firms that do not pay dividends as well as new firms, by denial, using betas for book comparison similar firms (e.g., other firms in the industry). However, with CAPM all our projections are based on historical data onto example good, the future, because of the estimate of book Beta we use.

Also, CAPM is based on simplifying assumptions about thesis holocaust, markets, returns and investor behaviour. The dividend discount model (DDM) is a simple model for valuing equity. It is considered to be a good thinking exercise as it forces the investors to begin thinking about different scenarios in relation to how the comparison market is pricing the stock. Development! On the other hand, dividend discount model requires an enormous amount of speculation in trying to comparison, forecast future dividends. Development! Meaning that a model is only as good as the assumptions it is based upon. Furthermore, it is quite difficult to establish a proper growth rate, especially when the company’s past growth has been abnormally high or low or there are general economic fluctuations, so the analysts do not project the historic growth rates in the future. Book! Finally there are no direct adjustments for risk in this method. The earnings capitalization model (ECM) is a simple model and easy to moving, understand.

However, it is considered poor in estimating equity costs for growing firms, so it is used as reasonable only for no growth firms. IV. Is Nike a Good Investment for the time being? The Discounted Cash Flow Analysis (Exhibit 2) showed that at the discount rate of 12%, Nike was overvalued at its current share price of $42.09. However, the sensitivity analysis revealed that Nike was undervalued at discount rates below 11.2%. We estimated WACC, the appropriate discount rate, at 10.59% which is less than 11.2%. This shows that Nike is undervalued at the discount rate equal to WACC, which makes Nike a good investment. However, as the North Point Large Cap Fund invests mostly in Fortune 500 companies with an emphasis on value investing we calculated Nike’s Economic Value Added (EVA)c6. Our results give a positive EVA for Nike at $304.5 which means that the company adds to book comparison, its shareholders’ value. As Nike’s common stock is essay, undervalued and the company has a positive EVA, it should be added to the North Point Large Cap Fund.

1. Mistakes to Avoid when Calculating WACC. Use of the current cost of debt. The relevant pre-tax cost of debt is the interest rate the firm would pay if it issued debt today. Use of historical average return on stocks with the current risk free rate. A case could be made either using the historical risk premium or the current one, but it is book comparison, wrong to homework homework, subtract the current risk free rate from the historical rate of return on book, the market. Use of book values of debt and equity to estimate their weights in thesis holocaust denial WACC. Although debt may have close market and book value, the market value of equity may differ significantly. 2. Adjusting the book Cost of Capital for Risk. Nike is planning to focus mainly on two projects in the next year: To develop more athletic-show products in an essay friend mid-priced segment and to push its apparel line which has already done extremely well. It seems that these two projects have different risks: mid-priced athletic shoes could be treated as a “new” product for book comparison Nike while apparel is already successful and both projects are in an essay friend different business segments.

Also, Nike provides plenty of other products. We can say that the use of multiple costs of capital, especially for the new project, is reasonable. However, we do not have enough data to support such approach. 3. Estimating the Market Risk Premium for CAPM. The market risk premium RPM=kM – kRF can be estimated either on the basis of ex-post or historical data or on a basis of ea-ante or looking forward data. Although, historic risk premiums are results of a very complete and accurate study (available from Ibbotson Associates) are usually treated with low confidence from the investors. Ex-ante risk premiums use forecasts of the market return and the assumption that markets are in book comparison equilibrium. Also, financial services companies publish regularly forecasts on the expected rate of market risk premium. Lambda! However, there are potential problems as well.

Many consider these forecasts the analysts and comparison, not the investors’ expectations-although this probably is not a major problem as many studies have shown-and that there are many financial companies that give different forecasts, so a potential investor needs to take the average from several forecasts. 4. About Friend! Use of Historical Arithmetic Mean of Risk Premiums. Although we did extended research to find Value Line’s forecasts for the rate of return on the market or the risk premium for 2001, we did not find anything due to limited access on relevant data. We decided to use the arithmetic mean based on the reasons we gave above but we still believe that the book use of current values is need for personality, better when estimating CAPM. c1. Cost of book comparison debt (Kd): As we mentioned is the for personality development Yield to Maturity of publicly traded Nike Bonds. (Values inserted in financial calculator) Pmt: 6.75/2= 3.375 (as it pays semiannually) > i* = 3.5813 semiannually, so, I/Y=(i*) * 2 > i: 7.1627% = YTM= Kd= 7.16% c2.

CAPM for Nike’s cost of equity. c3. WACC = Wd*Kd(1-T) + We*Ke. = 0.1135 * 7.16% (1-.4) + 0.8865 * 11.39% c4. Comparison! Dividend Discount Model (DDM) for Nike’s cost of thesis holocaust denial equity (Ke) g = 5.5% (Value Line’s estimation) So, Ke = 0.564/ 42.09 + .055= 6.7% c5. Earnings Capitalization Model (ECM) for Nike’s cost of equity (Ke) Where, E1 = (1+g) * E0 / # of share outstanding.

and g = Retention ratio * ROE. We used this estimation for g, instead of the Value Line’s forecast (5.5%) that we used in DDM, as the earnings and dividends are not expected to have the same growth rate. Nike’s management reiterated as earning growth rates targets above 15%, while dividends are expected to grow 5.5% From the comparison available data we have, Retention Ratio = Retained Earnings / Net Income = 3194.3/ 589.7 = 5.42. ROE = Net Income / Total Shareholders’ Equity = 589.7/ 3494.5= 16.88%

That gives: g=5.42*0.1688=0.914. E1 = (1+g) * E0 / # of share outstanding = [(1+ 0.914)* 589.7 / 271.5] =4.1572. c6. EVA = NOPAT – (Operating Capital*WACC) NOPAT = Operating Income (1 – Tax) = 1,014.2 (1-0.35) = 659.2. Total Operating capital = Net Operating Working Capital + Operating L-T Assets. NOWC = (Cash + Acc. For Personality Essay! Receivables + Inventories) – (Acc. Payables + Accruals) = (304 + 1,621.4 + 1,424.1) – (432 + 472.1) = $2,445.4.

Operating L-T Assets = $1,618.8. Operating capital = 2,445.4 + 1,618.8 = $3,349.5. So, EVA= 659.2 – (3,349.5*0.1059)= 304.488. Is this the perfect essay for comparison you? Save time and homework, order Nike Inc.: Cost of Capital. essay editing for only $13.9 per page. Top grades and quality guaranteed!

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Foreign aid vs. International trade Essay. Foreign aid vs. international trade is a long lasting debate as to which strategy leads to the greatest level of economic development. Foreign Aid is comparison defined as any assistance that is given to a country not provided through normal market forces. There are numerous forms of aid, from humanitarian emergency assistance, to food aid, military assistance, etc. Development aid has long been recognized as crucial to help poor developing nations grow out of poverty. International trade is the exchange of goods or services across international borders. Economic development as defined by AmartyaSen, 1998 Nobel prize laureate, “requires the removal of major sources of unfreedom: poverty as well as tyranny, poor economic opportunities as well as systematic social deprivation.” (1)

In 1970, the world’s affluent countries agreed to give 0.7% of need for personality development their GNI (Gross National Income) as official international development aid, annually. Comparison? Since then, these rich nations have rarely met their actual promised targets. “The US is college to a often the largest donor in dollar terms, but ranks amongst the lowest in terms of comparison meeting the stated 0.7% target.” The two charts below, reproduced from the report OECD publications (2012) shows aid granted in constant dollars and as a percentage of GNI. Comparison? Both support the homework homework conclusion regarding the failure to book comparison meet agreed upon aid commitments and the level of decreasing donations. (2)Billions have been donated, but it appears that Africa which has received the most aid remains a continent impoverished. As Dambisa Moyo in the Wall Street Journal writes “money from homework, rich countries has trapped many African nations in a cycle of corruption, slower economic growth and poverty. Cutting off the flow would be far more beneficial…….the insidious aid culture has left African countries more debt-laden, more inflation-prone, more vulnerable to the vagaries of the currency markets and comparison more unattractive to higher-quality investment. An Essay Friend? It’s increased the risk of civil conflict and unrest ….. Aid is an unmitigated political, economic and humanitarian disaster”. (3) Wall Street Journal, March 21st, 2009. Over the past 60 years at least $1 trillion of comparison development aid has been granted to Africa.

And unfortunately real per-capita income in 2014 is an essay less than it was in the 1970s. “More than 50% of the population — over 350 million people — live on less than a dollar a day, a figure that has nearly doubled in two decades” (4) Wall Street Journal, March 21st, 2009. In 2005, the International Monetary Fund’s report “Aid Will Not Lift Growth in book comparison Africa.” concluded that governments, donors and campaigners should be more modest in their claims that increased aid will solve Africa’s problems. College Essays Moving New Country? (5) Historically Asia was underdeveloped too. Yet various policies by governments to enhance international trade have resulted in many Asian countries i.e. Korea, Taiwan, Malaysia, and Singapore achieving spectacular economic growth and book along with it, higher standard of lambda living for its citizens. Dato Kim Tan, the co-founder and trustee for comparison the Transformational Business Network (TBN) wrote “growing up din Asia, I saw the Asian tiger economies that 30-40 years ago had a lower GDP than Uganda or Kenya, transform themselves through enterprise, not through aid and an essay philanthropy.” (3)Paul Kagame, President of the Republic of Rwanda and that country’s first democratically elected president wrote: “There is book comparison bad aid and there is good aid. The bad aid is that one which creates dependencies, as we’ve known for a long time now.

But good aid is that which is for personality development essay targeted to create capacities in people so that they are able to live on their own activities.… In the long-term they have to depend on book themselves rather than depend on aid.”(4) The issue to be addressed is whetherforeign aid achieveslong-term growth and homework development – is book comparison it a positive or negative catalyst to economic well being. And the corollary to this statement is whether international trade is a better alternative to need essay economic achievement. The historical basis for concluding that there is gain from trade originates from David Ricardo’s work: Principals in Political Economy and Taxation. The historical context of the time was the protectionist English corn laws, restricting wheat imports. Ricardo’s conclusion, arrived at by his theory of comparative advantage, showed that countries could benefit if they specialized and promoted free trade. Figure 1: Comparative Advantage. Country A has an absolute production advantage of both goods A and B because it can produce more of comparison these goods. Since the PPC is not parallel we can presume that the opportunity cost are both different. For Personality Essay? As a consequence specialization and comparison mutually beneficial trade can occur. Country A has a comparative advantage in the production of good B and Country B has a comparative advantage in homework the production of good A. Country B PPF curve has a lower slope therefore its comparative advantage of book production is the good on the horizontal axis.

To establish a policy of essays to a new country international trade, governments need to develop programmes that require important changes in the society. For example, states must develop competitive market economies based on book comparison environmental sustainability, infrastructure, establish a stable currency, a transparent political framework and example of a good essay legal system, security, and educated populace as prerequisites. Good A= Capital Goods. Good B= Consumer Goods. Figure 2: PPF curve with improved production via exports.

Country A allocates its resources to mostly consumption. Country C allocates its resources towards investment/capital goods. Countries that allocate their resources mainly in investment/capital goods are greater to have long-term growth than those countries who are more focused on consumption who are using up more current resources. With respect to book comparison Aid, money that is allocated to current consumption will not improve future conditions where as aid money allocated for such production of infrastructure, health, etc. Need For Personality? will in the long run exhibit economic growth. Interestingly,South Korea’s economic growth from the early 1960s to the late 1990s was one of the world’s fastest, and South Korea remains one of the fastest growing developed countries in the 2000s.This experience is known as the Miracle on the Han River. Like many underdeveloped society’s, S. Korea possessesno natural resources and suffers from overpopulation.In addition, the Korean War destroyed much of its infrastructure. The solution was South Korea adapting an export-oriented economic strategy.Remarkably in 1980, the comparison South Korean GDP per capita was $2,300, about one-third of nearby developed Asian economies such as Singapore and Japan. In 2010 South Korean GDP per capita advanced to $30,000 – almost thirteen times since 1980. Development Essay? (See two charts below on Korean Economic Growth and South Korean Economic Recovery after 1997.) It is book acknowledged that the Korean GDP per capita in 1960 was lower than some sub-Saharan African countries.

The growth of the Koreanindustrial sector was the principal stimulus to economic development. It is true that initially some foreign aid was granted by the U.S. given the contentious communist threat, nevertheless, it was from strong domestic government support and homework homework a move toward competitive markets and international trade that resulted in the investment of modern technology and newly built facilities at a rapid pace. The export to foreign markets and the plowing of the foreign currency back into book comparison further industrial expansion was the strategy for growth. In addition, this economic strategy suited South Korea given its poor natural resource endowment, low savings rate, and small domestic market. Labour-intensive manufactured exports, permitted South Korea to develop a competitive advantage. No doubt government initiatives were essential to this process. “The inflow of foreign capital was greatly encouraged to book report supplement the shortage of domestic savings. These efforts enabled South Korea to achieve rapid growth in exports and book comparison subsequent increases in income.”(5) Finally, the later development of a unique multinational firm known as the chaebol – family-controlled firms owning numerous international enterprises,enhanced Korean economic growth. There is strong cooperation with government receiving financial support and guidance i.e. innovation and research.

Today of these multinationals are Samsung, Hyundai, and LG. Thus, it is evident that South Korean expansion and wealth for its citizenry has derived from the adoption of a competitive market manufacturing economy, and the development of a high-tech commercethat emphasizes international trade. Foreign loans, supportive government policies, and not aid have been the critical catalyst to such a Han miracle. Aid assists, mostly economic which is normally provided to essays about moving new country distressed communities or underdeveloped countries for the enhancement of their socioeconomic condition. Aid is linked to need, is often not linked to comparison the ability to for personality enhance trade. Trade can result in inefficient distribution of book comparison income while if aid is mishandled the about moving to a distribution of aid will be unfair, with people being deprived of the book benefits of aid and effect economic growth of the country. Does Aid lead to about to a new country the establishment of book good infrastructure?

Development aid is given by governments, i.e. the US being the largest aid donor in the world (As of book report 2010) and other organizations such as the World Bank. “Aid to all countries in comparison the world declined” (2007, World Bank) An overview of a number of African countries that have been recipients of aid will consider the use and allocation of the foreign aid, and thesis holocaust assess the outcome of these donations upon the populace of the continent. One would note initially that there is a need for humanitarian aid to assist in emergencies and alleviate suffering but long term growth and development requires a different approach. Besides charity aid is a minimal portion of the over-all aid from book comparison, governments. In the Democratic Republic of Congo, according to a report by Transparency International, the Zairian president Mobutu Sese Seko (1965-1977) is listed as having embezzled at an essay about least $5 billion form the nation. (6) Transparency International In 2009, the former president of book Malawi – Bakili Muluzi was prosecuted for stealing $12 million allocated for aid. And Zambia’s former president, Frederick Chiluba is under investigation for taking millions from money that was set aside for college moving to a health, infrastructure, and education. Thus, these examples of corruption pervert the opportunity for book aid to assist the of a average African improve their conditions. Economic theory will emphasize that inefficiency will result from comparison, government intervention and in particular ‘free’ funds. Bad government worsens the situation as they are often bureaucratic in addition to corrupt.

The civil service is inefficient and vulnerable to cronyism which has consequence for responsible governance. Economic incentives are nullified and governments need not respond to citizen needs. Investors require transparency in need for personality development government and business but such a prerequisite is not required when donations are the source of funds. Policies such as taxation can be deferred since donations flow in to the country. The priority is to remain in power. Africa continues to be the most unstable region.

There are numerous examples of civil strife as exemplified by the current war in Southern Sudan and The Congo. According to the Stockholm International Peace Research Institute, Africa had a greater number of book wars than elsewhere in the world. Obviously, such strife has immense impact upon daily life and thwarts any possibility of private investment. Aid thus fills the vacuum. Homework? As stated in his book, Dead Aid: Why Aid Is Not Working and How There is a Better Way for Africa, by D. Moyo, “…aid-financed efforts to force-feed democracy to economies facing poverty and difficult economic prospects remain, at book best, precariously vulnerable.” (7) Further evidence of endemic problems is observed in Nigeria. This government is one of the most mismanaged in Africa. For example, during the World Economic Forum of 2005 in book Davos Switzerland, four state governors were being investigated in the U.K. for money laundering. Large amounts of aid are looted. “Speaking at the New Partnership for African Development (NEPAD) meeting in Abuja, Nigeria, in book December 2003, the thesis statement holocaust denial former British secretary of state for international development, Lynda Chalker, noted that 40 percent of the wealth created in Africa is invested outside the continent.” (8) Advantages and Disadvantages to Trade: Trade provides development countries with an important base for their own improvement. Countries can develop their own strategies and outcomes to achieve their development objectives i.e. focusing on agriculture of manufacturing services.

Countries are the determinants of their own economic destiny. One difficulty of trade is the international economic system imposes impediments i.e. trade barriers. The global market is not an international free trade market i.e. tariffs, taxes and subsidies, regulations and such restrictions operate to the disadvantage of the developing countries. The donor country puts restrictions on the recipient country i.e. the comparison requirement for government transparency, human rights, political support at the UN or Ideological support. Essay? Japan gains support from small countries on whale killing/harvesting using trade.

Developing countries have weak economic power to challenge economic injustices i.e. EU and USA have large program of subsidies and economical protectionism.One argument states that trade is a foundation for international cooperationi.e. one country is the comparison resources base and the other importing country is the lambda book report manufacturing base. Trade would benefits those countries who are engaged in trade (based on the market). Trade relationships would result in a more equitable partnership and book thus might be a catalyst for an essay about friend investment and growth. Developing country could receive direct foreign investments and the benefits that would sue from comparison, that, technology, employment etc. The result of this would lead to lower prices, greater choice, more efficient allocation of resources, foreign exchange and idea flowing between countries. Once getting passed trade impediments it can seen as long-term development strategy for a developing country.

A summary of the advantages and disadvantages: A country may import things which it cannot produce. Maximum utilization of good resources. Benefit to consumer. Reduces trade fluctuations. Utilization of surplus produce. Fosters international trade. Import of harmful goods. It may exhaust resources.

Danger of starvation. One country may gain at the expensive of another. It may lead to war. Advantages and Disadvantages to Aid: Aid has been said to decrease the development for book countries with their own improvement. Aid has many advantages but as it can be seen using examples such as African countries it can be seen that aid has decreased the development for countries. Countries can be giving aid for book ethical reasons, if there was a natural disaster and book comparison were in need of assistance. Aid is based on need, aid permits to countries to lambda book retain their dignity because aid if often perceived as condescending. There are different types of aid, tied and untied.

Tied aid is foreign aid that must be spent in the country providing the aid or in a group of selected countries. Untied aid is assistance given to developing countries, which can be used to purchase goods, and book comparison services in virtually all countries. Jeffery Sachs (UN advisor) argued that aid is important, it is essential to break the about friend poverty cycle and a determinant of book comparison long term growth. His argument stated that poor countries are not wealthy because of diseases such as malaria, they need to remove problems such as disease because the for personality free market will not due this. Giving of aid is perceived as an inducement to behave or support certain policies. Aid can be used as blackmailing or getting the upper hand on another country in order to gain their vote in the UN. William Easterly (Professor of comparison economics, NY university), aid does more harm than good, its often wasted, it inhibits peoples inventiveness, devising their old solutions. Aid is corrupt because its given to thesis denial corrupt officials and often its fragmented that there is many donors and misallocations of the funds. Aid often comes with a lot of preconditions.

Furthermore, aid has often come with a price of its own for the developing nations. Aid is often wasted on conditions that the recipient must use overpriced goods and services from donor countries. Book? Most aid does not actually go to the poorest who would need it the most. Aid amounts are dwarfed by rich country protectionism that denies market access for poor country products, while rich nations use aid as a lever to open poor country markets to their products. Large projects or massive grand strategies often fail to help the vulnerable as money can often be embezzled away. In conclusion, it appears that generally trade is new country more beneficial to long-term growth and book comparison development than aid. Essay? African examples discussed are proof that aid is book comparison counterproductive and the road to an essay friend economic failure. The opposite book comparison, appears true. Those countries able to divorce themselves from aid dependency are more likely to succeed as evidenced by homework, China, India, and even South Africa. A strategy of transparent government, efficient civil service to meet social needs i.e. education, incentives, entrepreneurship, the rule of law, patent protection, institutions to comparison attract foreign direct investment by creating attractive tax structures and reducing the red tape and complex regulations for businesses. Private capital investment into moving new country sustainable companies, with aid directly to community based non-profitable organizations is recommended.

African nations should also focus on increasing trade, but there have been cases where rapid growth in international trade has led to comparison bottlenecks and impediments to growth and thesis statement development. There appears to be no panacea but one does conclude that in order to achieve economic, social, and political progress there are essential non-economic and book comparison economic prerequisites – cultural (i.e. individualism, attitudes of personal achievement, hard work, etc.) political (i.e. transparent governments, stability, the rule of law,) and college moving to a new country economic (i.e. Comparison? infrastructure, communications network, merit goods i.e. education and health etc.). Each nation is unique with regard to trade and aid. The answer is not either or – aid or trade .but accountable and transparent aid in conjunction with sustainable trade and honest and efficient government. Bibliography: (Complete bibliography after check by Ms. Kerr) 1. Amartya Sen.

1999. Development as Freedom. Oxford university press 2. http://www.globalissues.org/article/35/foreign-aid-development-assistance 3. Report? wall street journal. 4. wall street journal. n+capital+was+greatly+encouraged+to+supplement+the+shortage+of+domestic+savings.+These+efforts+enabled+South+Korea+to+achieve+rapid+growth+in+exports+and+subsequent+increases+in+income.%E2%80%9Dhl=ensa=Xei=iZ7NUq7AIMTd2QWmyIHABwved=0CDAQ6AEwAA#v=onepageq=The%20inflow%20of%20foreign%20capital%20was%20greatly%20encouraged%20to%20supplement%20the%20shortage%20of%20domestic%20savings.%20These%20efforts%20enabled%20South%20Korea%20to%20achieve%20rapid%20growth%20in%20exports%20and%20subsequent%20increases%20in%20income.%E2%80%9Df=false 8. OECD Development Statistics Online, last accessed April 7, 2012 9. http://www.bbc.co.uk/news/uk-20405140.

10. http://www.guesspapers.net/1593/advantages-and-disadvantages-of-international-trade/ 11. http://www.moeasmea.gov.tw/ct.asp?xItem=72CtNode=263mp=2 12. http://www.globalissues.org/article/35/foreign-aid-development-assistance 13. http://www.ryanallis.com/sustainable-capitalism-and-the-role-of-aid-vs-trade-in-prosperity-creation/ 14. http://www.cato.org/publications/economic-development-bulletin/african-perspectives-aid-foreign-assistance-will-not-pull-africa-out-poverty. University/College: University of California. Type of paper: Thesis/Dissertation Chapter. Date: 6 May 2016. Let us write you a custom essay sample on Foreign aid vs. Book Comparison? International trade. for only $16.38 $13.9/page.

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consumer essay This account was written in book comparison, 1969 for publication in Marihuana Reconsidered (1971). Sagan was in his mid-thirties at that time. Friend? He continued to comparison use cannabis for example of a good, the rest of book, his life. It all began about ten years ago. I had reached a considerably more relaxed period in my life – a time when I had come to an essay about feel that there was more to living than science, a time of awakening of my social consciousness and amiability, a time when I was open to new experiences. Comparison? I had become friendly with a group of essay, people who occasionally smoked cannabis, irregularly, but with evident pleasure.

Initially I was unwilling to partake, but the book comparison apparent euphoria that cannabis produced and the fact that there was no physiological addiction to an essay the plant eventually persuaded me to try. My initial experiences were entirely disappointing; there was no effect at book all, and lambda, I began to entertain a variety of hypotheses about cannabis being a placebo which worked by expectation and hyperventilation rather than by chemistry. Book? After about five or six unsuccessful attempts, however, it happened. College About Moving New Country? I was lying on my back in a friend’s living room idly examining the pattern of shadows on the ceiling cast by comparison a potted plant (not cannabis!). I suddenly realized that I was examining an intricately detailed miniature Volkswagen, distinctly outlined by moving new country the shadows. I was very skeptical at this perception, and tried to find inconsistencies between Volkswagens and what I viewed on the ceiling. But it was all there, down to book comparison hubcaps, license plate, chrome, and even the small handle used for opening the trunk. Of A Good? When I closed my eyes, I was stunned to find that there was a movie going on the inside of my eyelids. Flash . . . Book Comparison? a simple country scene with red farmhouse, a blue sky, white clouds, yellow path meandering over green hills to the horizon. . Need For Personality Essay? . Flash . . . same scene, orange house, brown sky, red clouds, yellow path, violet fields . . . Flash . . . Flash . . . Comparison? Flash.

The flashes came about essay once a heartbeat. Each flash brought the same simple scene into view, but each time with a different set of colors . . . exquisitely deep hues, and astonishingly harmonious in their juxtaposition. Since then I have smoked occasionally and enjoyed it thoroughly. It amplifies torpid sensibilities and book, produces what to an essay about me are even more interesting effects, as I will explain shortly. I can remember another early visual experience with cannabis, in which I viewed a candle flame and discovered in the heart of the flame, standing with magnificent indifference, the black-hatted and -cloaked Spanish gentleman who appears on book, the label of the thesis holocaust Sandeman sherry bottle. Book Comparison? Looking at statement holocaust fires when high, by the way, especially through one of comparison, those prism kaleidoscopes which image their surroundings, is an extraordinarily moving and beautiful experience. I want to explain that at no time did I think these things ‘really’ were out there.

I knew there was no Volkswagen on the ceiling and there was no Sandeman salamander man in the flame. I don’t feel any contradiction in about moving new country, these experiences. There’s a part of comparison, me making, creating the about friend perceptions which in everyday life would be bizarre; there’s another part of me which is a kind of observer. Book? About half of the pleasure comes from the observer-part appreciating the work of the creator-part. Need For Personality Development? I smile, or sometimes even laugh out loud at the pictures on the insides of my eyelids. In this sense, I suppose cannabis is psychotomimetic, but I find none of the panic or terror that accompanies some psychoses. Comparison? Possibly this is because I know it’s my own trip, and that I can come down rapidly any time I want to. While my early perceptions were all visual, and curiously lacking in about friend, images of human beings, both of these items have changed over the intervening years. Book? I find that today a single joint is enough to statement holocaust get me high. I test whether I’m high by book comparison closing my eyes and looking for the flashes.

They come long before there are any alterations in my visual or other perceptions. I would guess this is lambda book report a signal-to-noise problem, the visual noise level being very low with my eyes closed. Another interesting information-theoretical aspects is the prevalence – at least in my flashed images – of cartoons: just the outlines of figures, caricatures, not photographs. I think this is simply a matter of book comparison, information compression; it would be impossible to grasp the essay total content of an image with the information content of an ordinary photograph, say 108 bits, in the fraction of a second which a flash occupies. And the flash experience is designed, if I may use that word, for instant appreciation.

The artist and viewer are one. This is not to say that the images are not marvelously detailed and complex. I recently had an image in which two people were talking, and the words they were saying would form and disappear in yellow above their heads, at about a sentence per heartbeat. In this way it was possible to follow the conversation. At the same time an occasional word would appear in red letters among the yellows above their heads, perfectly in context with the conversation; but if one remembered these red words, they would enunciate a quite different set of statements, penetratingly critical of the book comparison conversation. The entire image set which I’ve outlined here, with I would say at thesis statement denial least 100 yellow words and something like 10 red words, occurred in something under a minute.

The cannabis experience has greatly improved my appreciation for art, a subject which I had never much appreciated before. The understanding of the intent of the artist which I can achieve when high sometimes carries over to when I’m down. This is one of many human frontiers which cannabis has helped me traverse. There also have been some art-related insights – I don’t know whether they are true or false, but they were fun to formulate. For example, I have spent some time high looking at book comparison the work of the Belgian surrealist Yves Tanguey. Some years later, I emerged from a long swim in the Caribbean and sank exhausted onto a beach formed from the erosion of a nearby coral reef.

In idly examining the arcuate pastel-colored coral fragments which made up the beach, I saw before me a vast Tanguey painting. Statement Denial? Perhaps Tanguey visited such a beach in his childhood. A very similar improvement in my appreciation of music has occurred with cannabis. For the first time I have been able to hear the separate parts of a three-part harmony and book, the richness of the counterpoint. I have since discovered that professional musicians can quite easily keep many separate parts going simultaneously in their heads, but this was the first time for me. Again, the an essay about friend learning experience when high has at least to some extent carried over when I’m down. The enjoyment of food is amplified; tastes and aromas emerge that for some reason we ordinarily seem to be too busy to notice. Book? I am able to give my full attention to the sensation. A potato will have a texture, a body, and taste like that of other potatoes, but much more so.

Cannabis also enhances the enjoyment of sex – on the one hand it gives an exquisite sensitivity, but on the other hand it postpones orgasm: in part by about distracting me with the profusion of image passing before my eyes. The actual duration of orgasm seems to lengthen greatly, but this may be the usual experience of time expansion which comes with cannabis smoking. I do not consider myself a religious person in the usual sense, but there is a religious aspect to some highs. Comparison? The heightened sensitivity in all areas gives me a feeling of communion with my surroundings, both animate and inanimate. About? Sometimes a kind of existential perception of the absurd comes over book comparison me and I see with awful certainty the lambda book hypocrisies and posturing of myself and my fellow men. And at other times, there is book a different sense of the absurd, a playful and whimsical awareness. Both of these senses of the absurd can be communicated, and some of the most rewarding highs I’ve had have been in sharing talk and perceptions and example of a good essay, humor. Cannabis brings us an awareness that we spend a lifetime being trained to book comparison overlook and forget and put out of our minds. A sense of what the report world is really like can be maddening; cannabis has brought me some feelings for what it is like to be crazy, and how we use that word ‘crazy’ to avoid thinking about things that are too painful for us. In the Soviet Union political dissidents are routinely placed in book comparison, insane asylums.

The same kind of thing, a little more subtle perhaps, occurs here: ‘did you hear what Lenny Bruce said yesterday? He must be crazy.’ When high on moving to a new country, cannabis I discovered that there’s somebody inside in those people we call mad. When I’m high I can penetrate into the past, recall childhood memories, friends, relatives, playthings, streets, smells, sounds, and tastes from a vanished era. I can reconstruct the actual occurrences in childhood events only comparison half understood at need for personality the time. Many but not all my cannabis trips have somewhere in them a symbolism significant to book comparison me which I won’t attempt to describe here, a kind of mandala embossed on the high. Free-associating to this mandala, both visually and of a essay, as plays on words, has produced a very rich array of insights. There is a myth about such highs: the user has an comparison, illusion of great insight, but it does not survive scrutiny in the morning. I am convinced that this is an error, and that the devastating insights achieved when high are real insights; the main problem is putting these insights in a form acceptable to the quite different self that we are when we’re down the denial next day. Some of the hardest work I’ve ever done has been to put such insights down on tape or in writing.

The problem is that ten even more interesting ideas or images have to be lost in the effort of recording one. It is easy to understand why someone might think it’s a waste of effort going to all that trouble to set the comparison thought down, a kind of intrusion of the Protestant Ethic. But since I live almost all my life down I’ve made the effort – successfully, I think. Incidentally, I find that reasonably good insights can be remembered the next day, but only an essay friend if some effort has been made to set them down another way. If I write the insight down or tell it to someone, then I can remember it with no assistance the comparison following morning; but if I merely say to myself that I must make an effort to remember, I never do. I find that most of the insights I achieve when high are into social issues, an area of of a, creative scholarship very different from the one I am generally known for. I can remember one occasion, taking a shower with my wife while high, in which I had an idea on the origins and invalidities of racism in terms of book, gaussian distribution curves. It was a point obvious in a way, but rarely talked about. I drew the curves in soap on the shower wall, and went to write the idea down. Essays New Country? One idea led to another, and at book comparison the end of an essay, about an book comparison, hour of extremely hard work I found I had written eleven short essays on a wide range of social, political, philosophical, and human biological topics.

Because of problems of space, I can’t go into the details of these essays, but from good, all external signs, such as public reactions and expert commentary, they seem to contain valid insights. I have used them in university commencement addresses, public lectures, and in my books. But let me try to at least give the flavor of such an insight and comparison, its accompaniments. One night, high on cannabis, I was delving into my childhood, a little self-analysis, and making what seemed to me to be very good progress. I then paused and thought how extraordinary it was that Sigmund Freud, with no assistance from drugs, had been able to achieve his own remarkable self-analysis. Holocaust Denial? But then it hit me like a thunderclap that this was wrong, that Freud had spent the decade before his self-analysis as an experimenter with and a proselytizer for cocaine; and it seemed to me very apparent that the genuine psychological insights that Freud brought to the world were at least in part derived from his drug experience. I have no idea whether this is in fact true, or whether the historians of Freud would agree with this interpretation, or even if such an idea has been published in the past, but it is an interesting hypothesis and one which passes first scrutiny in book, the world of the downs. I can remember the night that I suddenly realized what it was like to be crazy, or nights when my feelings and perceptions were of a religious nature.

I had a very accurate sense that these feelings and perceptions, written down casually, would not stand the need for personality essay usual critical scrutiny that is my stock in book, trade as a scientist. Book Report? If I find in the morning a message from book comparison, myself the book night before informing me that there is a world around us which we barely sense, or that we can become one with the universe, or even that certain politicians are desperately frightened men, I may tend to disbelieve; but when I’m high I know about this disbelief. Comparison? And so I have a tape in which I exhort myself to take such remarks seriously. Essays New Country? I say ‘Listen closely, you sonofabitch of the morning! This stuff is real!’ I try to show that my mind is working clearly; I recall the name of a high school acquaintance I have not thought of in thirty years; I describe the color, typography, and format of a book in another room and these memories do pass critical scrutiny in the morning. I am convinced that there are genuine and valid levels of perception available with cannabis (and probably with other drugs) which are, through the defects of comparison, our society and our educational system, unavailable to us without such drugs. Such a remark applies not only to self-awareness and to homework homework intellectual pursuits, but also to book perceptions of real people, a vastly enhanced sensitivity to facial expression, intonations, and choice of words which sometimes yields a rapport so close it’s as if two people are reading each other’s minds.

Cannabis enables nonmusicians to book report know a little about what it is like to be a musician, and book, nonartists to grasp the joys of art. But I am neither an artist nor a musician. What about my own scientific work? While I find a curious disinclination to think of my professional concerns when high – the attractive intellectual adventures always seem to be in every other area – I have made a conscious effort to need for personality think of a few particularly difficult current problems in my field when high. It works, at least to a degree. I find I can bring to bear, for example, a range of relevant experimental facts which appear to be mutually inconsistent. So far, so good. At least the book comparison recall works. Then in need for personality development essay, trying to conceive of a way of book, reconciling the disparate facts, I was able to come up with a very bizarre possibility, one that I’m sure I would never have thought of down. I’ve written a paper which mentions this idea in passing. I think it’s very unlikely to be true, but it has consequences which are experimentally testable, which is the hallmark of an acceptable theory.

I have mentioned that in the cannabis experience there is a part of your mind that remains a dispassionate observer, who is able to take you down in an essay friend, a hurry if need be. I have on a few occasions been forced to drive in heavy traffic when high. I’ve negotiated it with no difficult at all, though I did have some thoughts about the marvelous cherry-red color of traffic lights. I find that after the drive I’m not high at all. There are no flashes on the insides of my eyelids. If you’re high and comparison, your child is calling, you can respond about as capably as you usually do. I don’t advocate driving when high on cannabis, but I can tell you from personal experience that it certainly can be done. My high is always reflective, peaceable, intellectually exciting, and need for personality development, sociable, unlike most alcohol highs, and there is never a hangover. Through the years I find that slightly smaller amounts of comparison, cannabis suffice to produce the same degree of high, and in one movie theater recently I found I could get high just by inhaling the essays about to a new country cannabis smoke which permeated the theater. There is a very nice self-titering aspect to cannabis. Each puff is book comparison a very small dose; the time lag between inhaling a puff and college essays new country, sensing its effect is small; and there is no desire for more after the high is there.

I think the ratio, R, of the comparison time to sense the dose taken to the time required to take an excessive dose is an important quantity. College About To A? R is very large for LSD (which I’ve never taken) and reasonably short for cannabis. Comparison? Small values of R should be one measure of the safety of psychedelic drugs. When cannabis is legalized, I hope to see this ratio as one of he parameters printed on the pack. I hope that time isn’t too distant; the illegality of cannabis is outrageous, an impediment to full utilization of a drug which helps produce the serenity and insight, sensitivity and fellowship so desperately needed in need for personality essay, this increasingly mad and dangerous world. This entry was posted on Monday, April 20th, 2009 at book comparison 9:02 am and is filed under Essays, Read. Good? You can follow any responses to book this entry through the RSS 2.0 feed. You can skip to the end and leave a response. College Essays New Country? Pinging is currently not allowed.

101 Responses to book comparison “Mr. X by Carl Sagan” For Bruce Gelman. February 22, 2016 at 5:16 pm. I would bet that a LOT of astrophysicists, and even more astrophysics students are stoners…