Albert Einstein Speech - 1071 Words

Albert Einstein By Paul Nguyen Introduction The person I chose was Albert Einstein, who was born in, Germany March 14, 1879 and died in, New Jersey, April 18th, 1955. The reason why I picked him is because he made a huge impact on the world by changing the world’s thinking about how to determine the speed of light and all his quote. The thing he was well known for was making the theory E=MC2. A quote he said was, â€Å"Imagination is more important than knowledge.† What I could learn from him is how to determine the speed of light. Five words that describe him is, Determined because he was determined to find the theory to determine the speed of light, smart†¦show more content†¦Talmud tutored him and which at that time he introduced him to a children’s science textbook which started his dream about the nature of light. The book is written by Aaron Bernstein in 1867-1868. When his parents business failed a really important contract(also other deals), he had to go to the boarding house where he w as supposed to finish his education by himself. Then when he was 16 he ran away from the boarding house because he was miserable and had repelled military duty and when he went to a door he surprisingly found out that it turned Ï‹Ï‹Ï‹Ï‹Ï‹Ï‹out to be his parents house which his parents were really surprised. The good part was, he could apply directly to college even though he dropped out but when he took the entrance test he failed French, Chemistry, and Biology but was accepted in because his mathematics scores were really high so he was then allowed in with the exception of he had to finish his schooling. He went to a special High School in Switzerland which was runned by Jost Winteler. Albert became really good friends with the Winteler family and his first love was Winteler’s daughter. ZÏ‹rich ( which was the school’s name) was a really good time for Einstein because that is where he made his true friends/trustworthy friends a nd that is where he first met his future wife. After he graduated in 1900, he started studied on his own skipping classes.Then when he asked one of his professor named,Show MoreRelatedAlbert Einstein Speech Essay998 Words   |  4 PagesGentlemen. My name is Joshua Rowland, and what might your names be? Max, Well, my name is Max Von Planck. Albert, And my name is Albert Einstein. Joshua, What has you on this train today? Max, We are both going to a Science Symposium in Hamburg. We are Theoretical Physicists. Joshua, Wow! Just what is a theoretical physicist? Max, Albert, do you want to tackle that one? Albert, Ok Max. If science is the queen of intellectual disciplines, Physics is the king of science. It is theRead MoreThe Contributions Of Albert Einstein1197 Words   |  5 PagesNovember 6, 2016 2nd Period Mrs. Watson Albert Einstein Research Paper There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle. (Einstein). Through Albert Einstein s eyes, everything that exists in the world is a miracle. Einstein s discoveries have proved the science world that the elements which make up the earth are indeed miracles. Albert Einstein is one of the most accomplished mathematicians and scientistsRead MoreEssay about Informative Speech Scientists Einstein and Heisenberg1715 Words   |  7 PagesInformative Speech Scientists Einstein and Heisenberg A. Introduction My Speech is about the scientists who had the main influence on our current time and have shaped our contemporary view of the world (Also called in Theology the Zeitgeist). I have chosen two of them who were in many ways just opposites. One is extremely famous and the other is almost unknown except to specialists. The most famous is of course Albert Einstein. He has significantly altered our view of the world with his TheoryRead MoreAlbert Einstein was born on March 14, 1879. He was born in the city of Ulm, Wurtemberg, Germany. He800 Words   |  4 Pages Albert Einstein was born on March 14, 1879. He was born in the city of Ulm, Wurtemberg, Germany. He was raised in a secular, middle class he was part of a Jewish family. His father was Hermann Einstein. His father was a salesman and engineer with his bother founded a company that made electrical equipment that was in Munich, Germany. The company was called Elektrotechnische is he Fabrik J. Einstein and Cie. Albert Einstein’s mother was Pauline Einstein, she ran the family household. Albert EinsteinRead MoreAlbert Einstien: The Smartest Man in History Essay898 Words   |  4 PagesEinstein helped create the scientific world we all know today. He is one of the worlds most famous scientists. Not only that, you may know Albert Einstein as the man with crazy hair or the man on the bicycle. Whatever you remember of him, he will always go down as one of the smartest men in history. Albert Einstein has forever changed American history. In this essay, you will read about Alberts early life, family and marriage, his miracle year, his scientific career and theory of relativity, USRead MoreThe Contributions Of Albert Einstein1647 Words   |  7 PagesAlbert Einstein: Theoretical Physicist, Scientist Biography by Matthew Ling Though known today as the most influential physicist of the twentieth century, he was not always regarded as such. Seen as a â€Å"retarded† school dropout and an army draft dodger in his youth, Albert Einstein was never expected to be successful at all, and definitely not the accomplished physicist he is today. With his deep inquisitiveness and inquiry, he overcame the challenges of the society around him and gave great contributionsRead More Albert Einstein Essay540 Words   |  3 Pages Albert Einstein   Ã‚  Ã‚  Ã‚  Ã‚  Albert Einstein was an important person who changed the world of science. People referred to him as a genius, and as one of the smartest people in the world. Einstein devoted himself to solving the mysteries of the world, and he changed the way science is looked at today.   Ã‚  Ã‚  Ã‚  Ã‚  Albert Einstein was born on March 14, 1879, in Ulm, Germany. Alberts speech was late in development; he didnt start talking until he was about three. Since he started talking late, his parentsRead MoreEssay on albert einstein718 Words   |  3 Pages ALBERT EINSTEIN Albert Einstein was born March 14, 1879 in Germany. His family owned a small business that manufactured electric machinery. The business failed and they left Germany. Albert was fifteen years old and he dropped out of school. When Albert was five when he received his first compass and he began to investigate the world. Little did he know that that compass would make him famous. By the age of ten he becomes so fascinated by the world of science he self-educates himself to learnRead MoreAlbert Einstein As A Role Model To The World1169 Words   |  5 Pagesknowledge of physics as much as Albert Einstein has. Einstein is a role model to many and it can be seen by his various accomplishments that he has done a tremendous amount to contribute to the scientific field as we know it today. Einstein may not have anticipated how much impact he would make on the world, especially during his early years as a patent clerk, but his scientific contributions will live on and be known for generations to come (nobelprize.org). Albert Einstein was born in a southern GermanRead MoreBiography of Albert Einstein Essay795 Words   |  4 PagesAlbert Einstein was born on March 14, 1879 in Ulm, Germany. He was a German-born theoretical physicist, which is a part of physics that employs a system using mathematical concepts and languages. He developed the General theory of relativity, which is a part of mathematics that is devoted to finitely generated groups of gravitation and is the current description of gravitation in modern physics. He is well known for his mass-energy equivalence formula E=mc2. His Notable awards are the Nobel Prize

Corporate Finance - 1635 Words

Case 1 – New Heritage Doll Company 1. Set forth and compare the business cases for each of the two projections under consideration by Emily Harris. Which do you regard as more compelling? Productions was New Heritage ´s largest division as measured by total assets, and easily its most asset-Intensive. Approximately 75 % of the division ´s sales were made to the company ´s retailing division, with the remaining 25% comprising private label goods manufactured for other firms. The division revenue figures include approximately $95 million of internal sales within divisions which are eliminated when considering consolidated revenue for the company. We must look closer on the financial projections and the operating details for the two†¦show more content†¦In both cases the NPV is greater than zero but NPV of project 2 is greater than NPV of project 1, therefore project number 2 should be selected. | | | | | | | | | | | | NPV calculations for Design Your Own Doll | | | | | | | | | | | | | | | | | | | | | | | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | EBIT | -1201,00 | 0,00 | 550,00 | 1794,00 | 2724,00 | 2779,00 | 2946,00 | 3123,00 | 3310,00 | 3509,00 | 3719,00 | Tax @ 40% | -480,40 | 0,00 | 220,00 | 717,60 | 1089,60 | 1111,60 | 1178,40 | 1249,20 | 1324,00 | 1403,60 | 1487,60 | | | | | | | | | | | | | Net Income | -720,60 | 0,00 | 330,00 | 1076,40 | 1634,40 | 1667,40 | 1767,60 | 1873,80 | 1986,00 | 2105,40 | 2231,40 | plus: depreciation | 0,00 | 0,00 | 310,00 | 310,00 | 310,00 | 436,00 | 462,00 | 490,00 | 520,00 | 551,00 | 584,00 | less: ΆNWC | 0,00 | 1000,00 | 24,00 | 1386,00 | 942,00 | 202,00 | 213,00 | 226,00 | 240,00 | 254,00 | 269,00 | less: capital expenditures | 4610,00 | 0,00 | 310,00 | 310,00 | 2192,00 | 826,00 | 875,00 | 928,00 | 983,00 | 1043,00 | 1105,00 | | | | | | | | | | | | | Free Cash Flow (FCF) | -5330,60 | -1000,00 | 306,00 | -309,60 | -1189,60 | 1075,40 | 1141,60 | 1209,80 | 1283,00 | 1359,40 | 1441,40 | terminal value | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 27486,00 | FCFShow MoreRelatedCorporate Finance Notes1881 Words   |  8 PagesStudy notes By Zhipeng Yan Corporate Finance Stephen A. Ross, Randolph W. Westerfield, Jeffrey Jaffe Chapter 1 Introduction to Corporate Finance ..................................................................... 2 Chapter 2 Accounting Statements and Cash Flow.............................................................. 3 Chapter 3 Financial Markets and NPV: First Principles of Finance................................... 6 Chapter 4 Net Present Value....................................Read MoreNotes for Corporate Finance2082 Words   |  9 PagesCorporate Finance Notes * Chapter One: Introduce to Corporate Finance 1. Three Questions: A. What Long-term asset should be invested? Capital Budgeting B. How to raise cash for capital expenditures? Capital Structure C. How to manage short-term cash flow? Net Working Capital 2. Capital Structure: Marketing Value of Firm = MV of Debt + MV of Equity 3. Finance perspect and Accountant perspect: Finance: Cash Flow ! Accountant: A/R means profit ! 4. Sole proprietorshipRead MoreCorporate Finance69408 Words   |  278 PagesCorporate finance P. Frantz, R. Payne, J. Favilukis FN3092, 2790092 2011 Undergraduate study in Economics, Management, Finance and the Social Sciences This subject guide is for a Level 3 course (also known as a ‘300 course’) offered as part of the University of London International Programmes in Economics, Management, Finance and the Social Sciences. This is equivalent to Level 6 within the Framework for Higher Education Qualifications in England, Wales and Northern Ireland (FHEQ). For moreRead MoreCorporate Finance4881 Words   |  20 PagesTrends of Leverage 7 2.3 Comparison of capital structure with similar companies 9 2.4 Capital expenditures and its financing 10 2.5 Important factors influencing the use of debt financing 10 2.5.1 Tax Advantage 10 2.5.2 Corporate Tax Rate 11 2.5.3 Credit rating 11 2.5.4 Interest rate 11 2.5.5 Company’s Industry 12 2.5.6 Company’s growth rate 12 2.5.7 Some other arguments about Harvey Norman 12 2.6 Evidence of financial distress 13 Read MoreCorporate Finance1421 Words   |  6 Pagesoperating earnings of the firm. The capitalization is to be made at a rate appropriate to the risk class of the firm. Growth Plans, are involved in capital structural theories in which a certain amount will be allocated for the growth plans. A finance manager should draw a plan according for the dividend policy. For Example: The firm has $10 million as equity capital and $6 million as debt capital and the firm made a profit (after tax) of $2 million, and the fund allocated to the growth plan wasRead MoreCorporate Finance - Concept Questions12247 Words   |  49 Pagesquestions of corporate finance? a. Investment decision (capital budgeting): What long-term investment strategy should a firm adopt? b. Financing decision (capital structure): How much cash must be raised for the required investments? c. Short-term finance decision (working capital): How much short-term cash flow does company need to pay its bills. ( Describe capital structure. Capital structure is the mix of different securities used to finance a firms investmentsRead MoreFundamentals of Corporate Finance 9e82683 Words   |  331 Pageshttp://helpyoustudy.info Chapter 01 - Introduction to Corporate Finance Chapter 01 Introduction to Corporate Finance Answer Key Multiple Choice Questions 1. Which one of the following terms is defined as the management of a firm s long-term investments? A. working capital management B. financial allocation C. agency cost analysis D. capital budgeting E. capital structure Refer to section 1.1 AACSB: N/A Difficulty: Basic Learning Objective: 1-1 Section: 1.1 Topic: Capital budgeting Read MoreCorporate Business Finance 7343 Words   |  30 PagesCorporate Business Finance Seminar 5 Project Finance Lauren Leigh Essaram 207507339 Ruvimbo Mukorera 206525531 27 September 2010 Submitted in partial fulfilment of the duly performed requirement of International Business Finance, School of Economics and Finance, University of KwaZulu-Natal Abstract Non-recourse financing has grown in popularity, especially in developing countries. It has done so more specifically in the basic infrastructure, natural resources and also in the energyRead MoreAdvanced Corporate Finance4303 Words   |  18 PagesUniversity of Puget Sound School of Business and Leadership BUS 434 Advanced Corporate Finance Professor Alva Wright Butcher Tues-Thurs 11:00-12:20 McIntyre 107 Spring Semester 2012 Office: McIntyre 111 I Phone: 253-879-3349 FAX: 253-879-3156 Office Hours: T-Th: 1:00-1:50 Wed: 9:30-10:30 And by appointment Note that I am always willing to schedule additional office hours by appointment. I check email frequently, so that is also a goodRead MoreEssay Corporate Finance1613 Words   |  7 Pages Why is corporate finance important to all managers? Corporate finance is a specific area of finance dealing with the financial decisions corporations make and the tools as well as analyses used to make these decisions. The primary goal of corporate finance is to enhance corporate value, without taking excessive financial risks. A corporations managements primary responsibility is to maximize the shareholders wealth which translates to stock price maximization. Corporate finance provides

Dental Fillings A Threat to Your Health or Harmless Free Essays

According to the American Dental Association, dentists have been using amalgam fillings for over a century. â€Å"It’s the least expensive type of filling, used in roughly a third of procedures to replace tooth decay† (Southall 1). The amalgam fillings often called â€Å"silver† fillings consist of a mixture of metals: Fifty percent liquid mercury and a fifty percent mixture of silver, tin, and copper (Magner 1). We will write a custom essay sample on Dental Fillings: A Threat to Your Health or Harmless? or any similar topic only for you Order Now In the 1970’s some of the first claims were made that the mercury in amalgam fillings could be responsible for many health problems (Magner 1). Since then, scientific studies and research on amalgam fillings have unveiled a wide range of health problems that come from mercury exposure, and groups are urging the F. D. A. to ban these so called â€Å"silver† fillings. However, the F. D. A. stills deems amalgam fillings safe for adults and children over six, leaving the general public with the question, â€Å"Do amalgam fillings pose a significant threat to human health? † Since the F. D. A. eemed amalgam fillings safe for the public, many people hold the view that the mercury used in dental fillings is safe and poses no threat to human health. The F. D. A. has based its decision, to allow dentists to use amalgam fillings, on scientific evidence that proved there were no harmful effects from amalgam fillings. In Sharon Begley’s informative article â€Å"Mercury Tooth Fillings: F. D. A. Does an About Face,† she states in 2006 the Journal of the American Medical Association had come to a conclusion on the threats of amalgam fillings. The conclusion: after following just over 1,000 kids for five years in one study and seven years in the other, the scientists found no evidence of harmful effects† (1). In Begley’s article one of the science teams stated that, â€Å"No statistically significant differences were found between children in the amalgam and composite groups. In I. Q. , in memory abilities, in visuomotor. In all, there were no statistically significant differences in adverse neuropsychological†¦effects observed† (1). Begley’s article offered strong cientific evidence supporting the FDA’s decision to uphold the use of amalgam fillings in America. Ashley Southall put forth an article in 2009 noting mercury levels safe in fillings. Southall mentions that the F. D. A. had stated, â€Å"while elemental mercury has been associated with adverse health effects at high exposures, the levels released by dental amalgam fillings are not high enough to cause harm in patients† (1). Although Southall did use some statements from the F. D. A. , she failed to use specific scientific studies to support the F. D. A. s claim of amalgam fillings being s afe which made her article weak. Not only is there scientific evidence that amalgam fillings aren’t dangerous, there is also â€Å"the basic fact of chemistry: The mercury in dental amalgam chemically binds to other elements; the result is a substance that is hard, stable, and safe† (Magner 5). People who hold the view that the mercury used in dental fillings poses no threat are supporting their views with more scientific studies. According to Lois Magner some of the most compelling data has come from studies on dentists. Magner states, â€Å"studies have shown that dentists do tend to have higher levels of mercury in the urine than does the general population. Yet dentists still have no greater risk of illness or death. In other words, even dentists’ above-average mercury levels do not seem to be high enough to cause harm† (5). Magner fears that even though the risk posed by the mercury in amalgam fillings is minimal to none and even though it is cost effective, it can still be banned on unfounded fears (7). On the contrary, many hold the viewpoint that the mercury in amalgam fillings is dangerous and has adverse health effects. Supporters of this view may have based their decision of scientific evidence as well. In an article put forth by the Physicians for Social Responsibility it stated, â€Å"autopsy results have shown that methylmercury causes nerve cell death and scarring in selected areas of the brain† (2). Not only is the brain affected from methlymercury so is the cardiovascular system. There have been links between methlymercury and high blood pressure, heart-rate abnormalities, and heart disease (Physicians 2). The Physiciams also noted that â€Å"while several organ systems in the body can be affected by methylmercury, the major target system is the central nervous system, and the most vulnerable life stage is fetal† (1). There was also a study put forth by the Centers for Disease Control that found nearly 8% of women of childbearing ages had mercury levels to high to be considered safe for a fetus (Physicians 3). This could mean millions of children and women are at risk for adverse health effects associated with mercury poisoning. The article â€Å"Mercury Contamination Poses a Serious Health Threat†, offers strong scientific evidence supporting the claim of adverse health effects from mercury exposure, and could definitely change ones mind on the decision to keep or remove their amalgam fillings. I have come to the conclusion that amalgam fillings may be dangerous in large quantities. If I had the means to remove my amalgam fillings safely I would. I have watched many peoples’ testimonies on youtube. om supporting the claim that their amalgam fillings were the cause of several adverse health effects, and that once the fillings were removed many cancers and disease left the body. Many of these people were taking a holistic approach to health and had had their amalgam fillings removed in conjunction with a lifestyle freeing the body of intoxicants. Although I have found much evi dence supporting the claim that amalgam fillings aren’t a threat to my health, I still fear they may be. A judge accused the FDA of dragging its feet when it came to the regulations of amalgam fillings (Begley 1), and the F. D. A. as classified amalgam fillings as a Class II or â€Å"moderate risk,† medical device (Southall 1). Still more research and scientific evidence in America needs to be put forth in order for the F. D. A. to put strict regulations on the use of mercury in fillings. I have also found in my research that working in the dental field may also be dangerous because of the high levels of mercury. Unfortunately these are not from credible sources. In this great country of Amercia we have the Freedom of the Press and it just sickens me that conglomerates have control of about two-thirds of our newspapers and can control what is printed (Burns 2). In order to get the truth on whether or not amalgam fillings can cause adverse health effects, one must evaluate why the F. D. A. is motivated to deem amalgam fillings safe, when so many individuals have come forth proving the contrary. Who pays the F. D. A. after all? Is a question I still need to answer myself. As for now the American Dental Association isn’t going to get rid of an affordable practical solution to tooth decay just because some individuals think their health issues were related to their amalgam fillings. How to cite Dental Fillings: A Threat to Your Health or Harmless?, Papers

Case Study Solution about the Music Analysis Strangers on a Train

Question: Describe about the Music Analysis: Strangers on a Train? Answer: Introduction Strangers on a train is a thriller film of America that had been released in the year 1951. The movie had been directed and produced by Alfred Hitchcock and was on the basis of the novel written by Patricia Highsmith. However, the screenplay of the film had been rewritten by Raymond Chandler. The music had been composed by Dimitri Tiomkin (Beach 2002, pp. 6). In context with this film, this paper will be analysing the music of this film with the main focus on a specific scene. The opening scene has been chosen for being described and this paper will justify the appropriateness of the scene in context with the entire film. A short biography of the music composer will be provided as well. Biography of the Music Composer The music in Strangers on a Train had been composed by Dimitri Zinovievich Tiomkin, who was a film score conductor and composer of Hollywood, born in Russia. Tiomkin had been born on 10th March, 1984 in Ukraine and died on 11th November, 1979. He had availed his musical training in Russia and is best known and remembered for his western scores that include The Alamo, High Noon, Duel in the Sun and Strangers on a Train. The composer had been the first choice of Jack Warner for scoring the movie, Strangers on a Train, as he was a man with experience and skills in composition of music (Bruce 2008, pp. 75). In this particular film as well, the musical themes of Tiomkin have been contrasted continuously in the entire film that delineates two different characters, having completely different personalities. Majority of the scores by Tiomking had been for Hollywood films, and is best recognised for this work. Duel in the Sun had been his first Western score that was directed by King Vidor. Tiomkin had been nominated in the Oscar for the music composition in The Alamo and Giant (Chandler 2006, pp. 87). Even though influenced by the music traditions of Eastern Europe, he had availed self- training as a composer of film and scored a number of films from a number of different genres from military drama to thriller. Brief Synopsis Strangers on a train is crime psychological thriller film of America, and had been released in 1951 by Warner Bros. The story focuses on two main characters who accidently meet on a train and get involved in an intense conversation. Guy Haines is one of the character who is amateur tennis player star that is played by Farley Granger. He is showing willingness for divorcing his promiscuous and vulgar wife Miriam, played by Laura Elliott, for marrying another elegant lady, Anne Morton, played by Ruth Roman. The other main character if Bruno Anthony, played by Robert Walker (Crowther 1951, pp. 97). On recognizing Guy, Bruno starts a conversation that intensifies with the passage of time. Bruno starts exchanging his idea about the perfect murder plot for Guy. The plot is set that Guy will be killing father of Bruno, in exchange of which Bruno will approach murdering Miriam. According to Bruno, no motive could be identified for conducting the murder, and hence, no one will be able to suspect the crime. Guy leaves in a hurried way, but Bruno considers this as an agreement (Dellolio 2004, pp. 75). This contributes in bringing the key theme based on which the film had been produced that is theme of double crossing. However, the plot does not seem to move in accordance with what had been set as Guy had not made an agreement regarding it. Description of the Scene: Opening Scene The opening scene of the movie, Strangers on a Train can be considered as being extremely gripping and in fact, a very unusual scene to a start a film of thriller genre. Hitchcock is known for his different types of shots that connote aspects in the genre of thriller. The scene begins with focus of camera over two different taxis that pull over at a station of trains (Ebert 2006, pp. 65). Focus of the camera is consistently over the feet of two men who get out of the taxis separately, and the scene keeps switching from the feet of one person to the other. In a significant manner, shoes of both the personalities can be distinguished. The first personality walking out of the taxi has shoes that look expensive and depicts that he has more authority and money in comparison with the other one. The second personality is wearing plainer, however, it can be stated that the shoes are smart. The scene focuses on their shoes for a while that creates a suspense as to who these characters are that grips the audience in a significant manner (Ford 2015, pp. 89). For closing the scene of shoes, shot of railway track is used for following the movement of both the characters as they walk along and enter the train. Both the characters are then exposed as their feet clash with each other, while they sit face to face accidently. This particular scene fits appropriately in the movie as it creates suspense right from the very beginning in a significant manner. Music Analysis for Opening Scene The music that is being played in the entire scene is non- diegetic, and with the shot closed up on the shoes of two men, the music ends up becoming more upbeat and the instrument of flute is added appropriately in the scene (Hare 2008, pp. 23). For focusing on a medium shot of expensive shoes, diegetic sounds of synchronization are used as the shoes touch the ground for blending in the music that is non- diegetic for creating a beat of percussion in the music of background. Non- diegetic music on the background has been utilized for continuing the scene by a bridge of sound, however, by this point of the scene, instruments of brass have been added for creating an idea that the arrival of this person is a great significant news and the character can be considered as a celebrity (Highsmith 2001, pp. 10). Considering the music in the scene of normal shoes, with an opening of the cab door, non- diegetic music in the background contributes in adding a harp sound of chiming. While showing the shoes of both the personalities alongside with each other, synchronized diegetic sounds are used of both the shoes again for creating a beat in the song as they walk along the pavement (Kauffman 2012, pp. 9). With the close up being maintained on both the shoes, a shot of track is used for following the movement of the shoes as the music continues to be involving instruments in high pitch and non- diegetic music. These are added to the scene with more strings and brass that depicts higher tempo. A bridge of sound is continuous as close up is created on the normal shoes as the walking continues and the non- diegetic music contributes to build suspense by utilizing the instruments of string. Again a cutaway is utilized for showing the expensive shoes, and the actions are noticeable because of the diegetic sounds of another man saying the dialogue of all aboard (McGilligan 2004, pp. 9). This shows the audience that the present location is a station of trains. In order to cut the focus on the shoes, fast pace is maintained of the non- diegetic music as the bridge of sound continues by both the scenes of cross cutting. The scene is faded as focus is created on the railway tracks and dolls shot that shows the tracks of train, camera following the tracks and coming across the platform (Sullivan 2006, pp. 10). This scene involves non- diegetic music that has added instruments of percussion for the creation of climax and drama as the sequence opens up. The sequence is opened up with the continuation in brass and string that results in the creation of fast pace with suspense and tension amongst the audience. As the camera continuously focuses on following the railway tracks, there is involvement of ambient sounds as the train moves over the tracks. This is used for showing that there a long journey is being embarked by the train (Truffaut 1967, pp. 7). For cutting away from the scene of two men walking out of the taxi and entering the train, both the pairs of shoes are showed under the same table sitting together as the two feet clash with each other. Hence, in the entire scene, it can be stated that no n- diegetic music is utilized for showing the intensity of the scene. Conclusion The music in Strangers on a Train had been composed by Dimitri Zinovievich Tiomkin. The music that is being played in the entire scene is non- diegetic, and with the shot closed up on the shoes of two men, the music ends up becoming more upbeat and the instrument of flute is added appropriately in the scene. The opening scene of the movie, Strangers on a Train can be considered as being extremely gripping and in fact, a very unusual scene to a start a film of thriller genre (Wood 1965, pp. 8). Hitchcock is known for his different types of shots that connote aspects in the genre of thriller. This plot had been extremely thrilling and entertaining for the audience as it contributes in reflecting the negative results that can be involved by double crossing. References Beach, C., 2002. Class, Language and American Film Thriller, New York: Cambridge University Press. Bruce, K., 2008. A short history of the movies, 10th ed., New York: Pearson Education Inc. Chandler, C., 2006. It's Only a Movie: Alfred Hitchcock, A Personal Biography. New York: Applause Books. Crowther, B., 1951. The Screen: In Review. The New York Times. Dellolio, P., 2004. Hitchcock and Kafka: Expressionist Themes in Strangers on a Train.Midwest Quarterly, 45(3), pp. 240255. Ebert, R., 2006. The Great Movies II. New York: Broadway Press. Ford, R., 2015. David Fincher, Ben Affleck, Gillian Flynn Reuniting for 'Strangers on a Train' Remake. Hollywood Reporter. Hare, B., 2008. Strangers on a Train: Hitchcock's Rich Imagery Reigning Supreme. Noir of the Week. Highsmith, P., 2001. Strangers on a Train. New York: W.W. Norton and Co. Kauffman, J., 2012. Strangers on a Train Blu-ray Review. Blu-ray.com. Retrieved October 8, 2012. McGilligan, P., 2004. Alfred Hitchcock: A Life in Darkness and Light. New York: Harper Perennial. Sullivan, J., 2006. Hitchcock's Music. New Haven: Yale University Press. Truffaut, F., 1967. Hitcock By Truffaut. New York: Simon and Schuster. Wood, R., 1965. A Hitchcock Reader: Hoboken, New Jersey: Wiley-Blackwell.

Case Study on Kodak Essay Example

Case Study on Kodak Essay Porter’s Competitive model – Calvin iv. Kodak’s Strategy Tiffany v. Internal strengths and Internal weakness – Yvette b. Coordinator for written report i. Jessica c. Coordinator for presentation i. Calvin d. Audio-visual aids for presentation i. Powerpoint KODAK Kodak, founded by George Eastman, was officially established by 1889. The name Kodak came from Eastmans interest in the letter K. He wanted the company name to begin and end with the letter K. 1 Eastmans vision became reality. â€Å"Thanks to Eastman’s inventive genius, anyone could now take pictures with a handheld camera simply by pressing a button. He made photographers of us all. 2 Today, Kodak is an American icon. However, the company has been struggling due to financial difficulties and new innovations in the photography market. Our research includes the company background, current status, SWOT analysis, Porter’s Model, and competitive strategies. Kodak’s History The story of the Kodak began in 1879. George Eastman, the founder of Kodak, received a patent for his plate-coating machine in London, England and in the United States a year later. 3 His successful venture in manufacturing dry plates caught the eye of Henry A. We will write a custom essay sample on Case Study on Kodak specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Case Study on Kodak specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Case Study on Kodak specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Strong. Strong decided to invest during the infancy stage of the company. A partnership between Eastman and Strong was formed in 1881. 4 They named their investment the Eastman Dry Plate Company. In 1883, Eastman introduced film in rolls with a universal roll holder that would fit nearly every plate camera available at the time. 5 In 1888, the world’s first Kodak camera was born. The company name was changed to the Eastman Dry Plate Film Company in 1884, and changed again to the Eastman Company in 1889. The formation of the Eastman Kodak Company of New York in 1892 led to the firm’s final name change in 1901, the Eastman Kodak Company of New Jersey. 6 George Eastman’s vision was to make photography easy to use and accessible to everyone. The slogan, â€Å"You press the button, we do the rest† came to be. 7 Eastman’s very first Kodak camera was handheld and came pre-loaded with 100 exposures of film. It cost $25. 8 Once the exposures were used, the entire camera was sent to Rochester, New York for film developing. Then, prints were made and the camera was loaded with new film. This service cost $10. 9 This was the beginning of Kodak’s growth stage. Eastman had built his company using four basic business principles: mass production at low cost, international distribution, extensive advertising, and focus on the customer. 10 In addition, Eastman had three policies: foster growth and development through continuing research, treat employees fairly and with respect, and reinvest profits to build and extend the business. 11 By 1884, the company had 14 shareholders. 12 Today, Kodak is in its maturation stage. In 2001, Kodak launched a new line of cameras under the slogan, â€Å"Share moments. Share life. †13 Kodak EasyShare digital cameras were introduced to the world. Digital cameras are film-less. Instead, they are equipped with a sensor that converts light into electrical charges. The electrical charges, or electrons, are then converted into a digital value by an analog-digital converter. 14 The resolution of a camera refers to the amount of detail that can be captured in a picture. Resolution is measured in pixels. The more pixels a camera has, the less grainy its images will appear. Digital images can be stored in a number of ways including both primary and secondary storage units. Some cameras come equipped with built-in memory. Others use memory cards to store the images. Images can be viewed from the LCD screen located on the camera, or on your computer via the USB cable. Once on a computer, the images can be stored on the hard drive or secondary storage like a floppy disk or CD. Images can also be sent or posted on the Internet. The very first digital camera was out on the market in 1991. The Dycam digital camera had a 176240 pixel resolution in a gray scale. 15 Digital cameras have come a long way since then. Today, cameras with very high resolutions of 16001200 pixels are available, which is about 2 million total pixels. 16 Some cameras have even more than 10 million total pixels. Current Status of Kodak Comparing Kodaks financial highlights for the last two years reveal trends both good and bad. Kodak had an increase in net sales from $12,835 million in 2002 to $13,317 million in 2003. Although they experienced a $482 million increase in net sales, they also had a decrease in net earnings. In 2002, Kodaks net earnings were $770 million. In 2003, this decreased to a net loss of $265 million. Three main contributors to the major decrease in net earnings were the $557 million in reconstruction charges, $32 million in earnings from discontinued operations related to environmental and tax reserve reversals, and $31 million in RD. Kodak had an after-tax impact of $17 million in 2002, but had an impact of $396 million in 2003. There were also more shareholders at the end of 2002 compared to 2003. In 2002, Kodak had 89,988 million shareholders, but only 85,712 million in 2003. This was a decrease of 4,276 million shareholders. Currently, Kodak is selling their stock at a rate of $25. 35 per share. The stock price has raised $0. 40 from the previous close. (See Figure 1, Stock Price) Figure 1 Stock Price Source: Yahoo Finance 17 Apr. 2004 (http://finance. yahoo. com/q/co? s=EK) In terms of competitors, Kodak remains very busy. Many other companies have entered the market and compete for space to sell digital cameras and printers that put pixel onto paper. The following chart shows the market share of the leading competitors in still digital cameras and single-use cameras. It also shows where the products are sold in the United States. (See Figure 2, Digital Still Cameras in 2002 and 2003). MARKET SHARE FOR: DIGITAL STILL CAMERAS (2002) DIGITAL STILL CAMERAS (2003) Figure 2, Digital Still Cameras in 2002 and 2003 Source: Julie Xiong 17 Apr. 2004 and Ben Gottesman,. Reader Survey: Digital Cameras. PC Magazine 2 Sept. 2003 Kodak’s market share has dropped 7% in the digital still camera market. Canon had the biggest jump in market share for digital still cameras leaping from a mere 13% to a whopping 20%. This was a total increase of 7%. However, Kodak dominated the single-use camera market. In 2001, Kodak had 51% of the market, which attracted many shareholders. Nevertheless, Kodak has been plummeting in terms of net earnings. SINGLE-USE CAMERAS (2001) Figure 3, Single-Use Cameras in 2001 Source: Julie Xiong 17 Apr. 2004 and Claudia H. Deutsch Kodaks Competitors. New York Times 23 Apr. 2001 Page. C-12 Currently, Kodak can be found all over the world. They have international service locations in the Americas, Asia, Europe, the Middle East and Africa. In addition, Kodak is located in all of the major cities within these regions. In the United States, Kodak has most of their service operations located in New York, Florida, and Texas. Kodak provides services for these cities as well as many other areas upon request. Four headquarters operations are located in Windsor, Colorado, Atlanta, Georgia, Oakdale, Michigan and Toronto, Ontario. Kodak offers many company positions. They promote diversity in their staff and a challenging occupation. Employment positions vary depending on functional area. Within each category there are numerous subcategories. Kodak also offers internship, on-call conditional, and regular employee positions. Kodak even offers positions in the fields of aviation, engineering, and public relations. Kodak has 26 suppliers from all over the world. These suppliers provide Kodak with â€Å"keykode equipment and software. Kodaks main suppliers are located here in the United States. Abel Cine Tech Inc. s located in Burbank, California and Bremson Data Systems, Inc. is in Lenexa, Kansas. Kodak purchases many other materials such as imaging material manufacturing, equipment manufacturing, and non-manufacturing goods and services. Imaging material manufacturing includes items like chemicals, packaging supply, and fuel and energy. Equipment manufacturing includes circuit boards, plastics, and electric co mponents. Lastly, non-manufacturing goods and services include advertising, IT-services, and travel or fleet. Kodak’s IT department is booming with technological advancements. They are striving to make operations easier and more useful. Like their slogan â€Å"You press the button, we do the rest,† Kodak is trying to make access to their database just as easy. There is a demo on the company website which explains to customers how easy their â€Å"reference archive system works with your enterprise database, core IT technology, and your network to deliver archived documents quickly to anyone who needs them. 17 If a user needs to retrieve a document, the Kodak i7300 Scanner, 2400 DSV, or 3000 DSV digital scanner/printer sends it to him or her immediately. The document is â€Å"visually accurate. † Even if IT is offline, it is able to search the enterprise, request pass over the network, and retrieve the document. In addition, Kodak is enlarging its IT field and reducing cost by buying directly from IBM. The company is â€Å"standardizing all of Kodak’s hardware and installing a set of preinstalled software on all PCs. 18 Now, Kodak doesn’t need to go on-site to fix a customer’s problem. Their help desk is exceeding in customer service and saving money at the same time. Today, Kodak saves nearly $200 per customer. Strengths Kodak has many strengths. The first tangible strength is their website. The Kodak website is customer friendly. One valuable aspect the website offers is the number of ways available to find information about Kodak products. The information is very detailed and includes features showing what the product has to offer. This allows consumers to compare and analyze features with other products. Consumers no longer need to buy the product to see if it fits their needs. Thus, the Kodak website is very cost effective for customers. Another internal strength is the variety of products offered. For example, dentists and doctors can purchase imaging equipment. Also, professional photographers and hobbyists can choose from numerous types of cameras to find one suitable for their needs. This wide product offering allows Kodak to occupy multiple markets at one time. The ability to enter new markets shows Kodak is pushing the envelope. 19 They are willing to new things and are innovative. Like other major image-product companies, Kodak has been keeping up with the latest in digital technology. They have been busy perfecting their digital product offering to maintain their competitiveness in the market. Keeping their products technically in tune and up to date will prove to be a major advantage for Kodak. Not all of Kodaks strengths are tangible. The Kodak name alone is a tremendous asset to this company. Everyone knows the Kodak name and their company slogan, â€Å"You press the button, we do the rest†. The brand recognition for Kodak has reached global proportions. Kodak has manufacturing plants in the Americas, Europe, and the Pacific Rim. Being a global manufacturing company allows Kodak to keep its brand recognition worldwide. Lastly, Kodak strives to maintain is its image. The company is environmentally and socially conscious. Kodak also contributes to the reduction of greenhouse gases and emissions. Over the years, their efforts have been recognized and awarded by many environmental organizations and agencies. In March of 2004, they were recently named â€Å"Energy Star Partner of the Year† by the Environmental Protection Agency. 20 In addition, Kodak contributes to numerous communities and social organizations. Consumers can feel good about purchasing Kodak products because they know Kodak gives back to the community. Weaknesses However, where there are strengths, there are weaknesses. For example, there is no virtual store. Users are unable to purchase directly from the website. Kodak should consider incorporating e-commerce into their businesses plan. Since Kodak offers plenty of information regarding their products on their website, it would make sense for visitors to be able to make purchases. Consumers would appreciate the convenience of a one-stop shop. Also, the website is a bit cluttered. This may be overwhelming and confusing for users. However, this isnt a major concern and can be easily redesigned. Another weakness is Kodaks customer service. There are many reviews stating their customer service was unsatisfactory. For example, if a customer experienced a problem with their purchased product, they found customer service was not helpful. Most complaints were regarding timeliness and warranties. Kodak should consider providing better customer service to maintain customer loyalty. Finally, Kodak may need to focus its efforts on to fewer areas. They have expanded from consumer photography to professional photography, lab equipment, cinematography, medical and dental imagining, and business and government products. Despite entering these markets, Kodak has not seen an increase in profits. Recently, Kodak’s market share has fallen to Canon, Sony, and Fujitsu. 1 Are they creating value through acquisitions or merely pursuing growth without profitability? Kodak’s External Opportunities and Threats Kodak is taking advantage of existing opportunities by spreading its brand name in to other markets such as camera phones, cinema, digital technologies, health care, and infoimaging. Kodak is en tering the camera phone industry through partnerships with Cingular Wireless and Nokia. Kodak will soon equip 24,000 Kodak Picture Maker kiosks in the United States with Bluethooth and infrared technology. This will enable camera phone users to send pictures from their phones to the kiosks for printing. The kiosk service will be available to camera phone users for a monthly fee of $2. 99. Cingular and Nokia subscribers can use the kiosk service for free for 90 days. After the trial period, they will be charged on their monthly wireless bill. 22 The health care industry takes numerous x-ray photographs and digital images of their patients on a regular basis. Thus, Kodak wants to expand its current position in this industry by providing its products to the large hospitals, small clinics, and other professions that require special films, imaging systems, or imaging programs. Also, Kodak will provide customers with the networking and integration capability to make the products work together. 23 The cinema industry in India is poor compared to international standards. â€Å"We see India as an opportunity for Kodak to invest in multiplexes and raise the quality bar of cinema in the country by creating state-of-the-art cinemas and taking further the long-term partnership between Kodak and the movie industry. † By investing in India’s cinema, Kodak’s may be able to penetrate the entertainment industry. 24 To conquer the digital world, Kodak is reducing its $1. 80 annual dividend to $0. 50 per share. This strategy will boost digital investments up to $3 billion over a three-year period. Kodak acknowledges the movement from chemical based film to digital technology. Thus, the company expects to loose a fair share of the chemical based film market and expects to gain from the digital industry. 25 Another opportunity for Kodak is multicultural marketing. According to the Census Bureau, ethnic populations in the United States will increase greatly over the next 50 years. The Asian American population will more than triple, the Hispanic American population will almost triple, and the African American population will increase by 62 %. Multicultural marketing is a huge opportunity for Kodak†¦the values associated with the Kodak brand family, quality, trust are exactly those cherished by ethnic communities. † If proper research and development is done, Kodak will stabilize a role as a leader in the film industry. 26 A major threat to Kodak was the replacement of traditional chemical-based film by digital technology. At its peek, the chemical-based film brought in 70% of the company’s revenue. However, Kodak predicted chemical-based film would bring in no more than 30% of total revenue by 2006. Therefore, there will be a decrease of 40%. To fight this decrease in revenue, Kodak will be forced to down size. Numerous employees will loose their jobs to outsourcing. â€Å"Workers in the film finishing operation at Kodak Park were told the majority of their division would be dismantled and moved to Mexico. †27 The growing digital industry brought in new competitors to the photography market. SanDisk, a 15-year-old digital memory company, took off at an alarming rate. They posted net income of $41 million in the second quarter, which was a 357% increase from the previous year. Other companies also increased their sales. OmniVision and Zoran, both sensor producers, are up 220% and 70%. Concord Camera increased 40% in total revenue from digital cameras selling lenses. 28 Current threats can jeopardize the Kodaks future, unless the company seizes every opportunity available. Porter’s Model Kodak can be placed in both fragmented and consolidated industries because of the wide variety of products and services it offers. A handful of industry giants dictate prices of digital cameras and accessories, which makes digital camera manufacturing a consolidated industry. 29 On the other hand, there are more than 400 establishments manufacturing traditional photography equipment and suppliers, which make it a fragmented industry. 0 For decades Kodak has been the market leader in traditional film photography. Since the advent of digital cameras and photo-processing equipment, traditional film photography has seen a global decline with demand falling sharply in recent years. This forced companies in the imaging industry to switch their focus from traditional film to digita l photography. Moreover, it expanded the boundaries of the photo imaging industry and allowed companies from the consumer electronics sector, such as Sony and Hewlett-Packard, to join the race. This gave rise to essentially two strategic groups within the industry: companies that primarily focus on manufacturing digital imaging equipment, such as cameras and storage media, and those that focus on manufacturing digital imaging equipment, as well as photo processing services and equipment. Kodak currently focuses on manufacturing digital imaging equipment, and photo processing services and equipment. Since the shift in paradigm from traditional to digital imaging, they have spent billions of dollars funding research and development toward digital photo capturing along with processing equipment and services. Until recently, Agfa, Konica, and Fujitsu were their main competitors. However Agfa and Konica, informally signaled they are pulling out of consumer businesses. Thus, Fujitsu is left as Kodak’s front line competitor in all three segments. 31 While they continue to compete neck-and-neck in the global market, Kodak has a clear lead in the U. S. market. Kodak has an advantage in photo processing over Fujitsu due to â€Å"complementors† such as Ofoto and Shutterfly endorsing the online photo-processing segment. Also, Kodak has already laid out strategic plans to ride the digitization wave. The imaging industry is very dynamic. Kiosks, scanning systems, digital media for image storage, and transmitting networks, are replacing film and traditional photography equipment. Kodak is shifting its outlook towards advanced amateur photographers and the entertainment industry through acquisitions and research and development. This movement is necessary in order to beat out competitors like Ansco, Agfa, Canon, Seneca, and Conley. However, this has not taken Kodak’s focus completely away from traditional photography equipment. Single-use camera sales, for example, have doubled in number since 1998. Convenience and lower prices still have consumers opting for single use cameras over traditional ones. Both Kodak and number one competitor Fuji Film look to markets such as China to support the single-use camera sector of business. Adding to industry novelty is the launch of Kodak’s self-service kiosk, which is able to convert a roll of 35 mm film into prints within seven minutes. The Picture Maker Station is a response to the decline in traditional film sales. The 150+ new patents on this device will make it difficult for competition to contend with Kodak, at least temporarily. However, there are many barriers for entry into the photo-imaging industry for new companies. As reflected by the market share in photography equipment sales, consumers trust brand names like Sony, Kodak, Olympus, Fuji, and Hewlett-Packard. These established companies have absolute advantages through knowledge gained via research and development and years of experience. 32 These companies also have an advantage of economies of scale. There are approximately 2500 companies that supply products and services to Kodak. 3 It is evident established companies have access to a large volume of suppliers, which allows them to fish for better prices. Traditional cameras do not have a high customer switching cost, but digital cameras do. Once a consumer purchases memory cards and other accessories for a certain digital camera and installs their photo downloading software, they may find it costly and time consuming to switch to a new camera. There is a high level of industry demand for digital im aging equipment and services. InfoTrends Research Group predicts that global sales of low-end digital cameras (priced less than $1,000) will reach $11. billion in 2007. 34 Growing demand tends to reduce rivalry because companies can sell more without taking market share away from competitors. 35 Therefore, most established companies are continually improving their products to win over the market and become the industry leader. In contrast, traditional photography equipment is losing demand. This gives rise to fierce competition among companies. In terms of buyers bargaining power, consumers generally have more room to bargain for lower prices. On the other hand, digital photography is still a rapidly evolving technology and customers tend to trust the well-known brand names. Fewer choices of high quality products make consumers more vulnerable to paying high prices. As mentioned before, Kodak does business with over 2,500 suppliers. This places suppliers on the losing end of bargaining for higher prices for components they supply to Kodak. There are relatively few substitute products in Kodak’s industry. Although they are a minimal threat, traditional cameras and single-use cameras can be considered substitute products for digital cameras. Kodak and the photography industry face many changes in the macro environment that both benefit and hinder business in the short and long run. There are various economic forces, technological forces, and demographic forces that continue to alter the photography industry and Kodak. Kodak’s Strategy Kodak has used many different competitive strategies throughout its existence. It has used a combination of three competitive strategies to maintain its competitive position. These strategies include: cost leadership, growth, and differentiation. When Kodak was first established, it used a cost leadership strategy. In the very early years of the company, Eastman was devoted to the idea of supplying the tools of photography at the lowest possible price to the greatest number of people. 36 Kodak found ways to produce its products and services at a low cost giving the company a cost advantage over its competitors. This cost leadership strategy helped Kodak reach a large number of people making it a successful business endeavor. Today, Kodak continues to use the cost leadership strategy. For the past few years, the company has been working towards providing its products and services at a lower cost while being competitive in its traditional film and digital markets. Although the cost leadership strategy has been a success, Kodak has found other ways to stay competitive within its industry. Another competitive strategy Kodak has tried is differentiation strategy. Kodak found ways to differentiate itself from its competitors through new technologies like infoimaging. Infoimaging has given Kodak an advantage in image science and information technology. Infoimaging is composed of three divisions: devices, infrastructure, and services and media. Each of these divisions has provided Kodak with a tool specifically used for developing new and unique products, services, and systems. Information technology has been a large part of the differentiation strategy. Information technology makes up infoimaging. Infoimaging uses images and technology to improve communication and commerce, creating significant new revenue and market opportunities for businesses around the world. 37 Through infoimaging’s $385 billion industry and information technology, Kodak has been able to grow and stay competitive. Kodak has also used the differentiation strategy to expand its products and serv ices into several industries. These industries are composed of photography, health, entertainment, printing and publishing, document imaging, space exploration, and the consumer and professional industry. Expansion into these multiple industries has made Kodak a diverse primary manufacturer and provider of products and services. It has also made Kodak more competitive because it has opened up a range of markets for them to dominate. Continuous investment in Kodak’s research and development department is another part of the company’s differentiation strategy. Research and development allows Kodak to be original, creative, and innovative with the products and services they introduce to the market. The research and development team is responsible for product development, technology research, and imaging research. The company website mentions their commitment and dedication to the expert research and development team that helps the â€Å"company constantly seek and find new ideas and better solutions. †38 Though research and development, technology, and information systems, Kodak can continue to meet the customer and market demand. Their main competitive strategy is the growth strategy. In 2003, Kodak introduced a new strategy of growth aimed at switching from a traditional film business to a digital imaging and technology one. Kodaks growth strategy, also known as its digital strategy, will help make them more competitive in other markets like health care, consumer photography, and commercial-printing. The new strategy was incorporated to increase profits in digital imaging and expand growth into new markets. In order to expand, Kodak acquired well-known, leading companies to reach a larger segment of the market. The new digital strategy enabled them to compete in innovative ways. This strategy is comprised of two objectives: earnings growth and acquisition and planned investment. The earnings growth portion allowed Kodak to cut costs and dividends, increase productivity, price aggressively, and generate cash. Kodak’s earnings growth objective hasn’t been as successful as its acquisition objective. Acquisition allowed the company to expand its growth and enter into new markets. Kodak outlined a $2-3 billion acquisition strategy to grow its existing businesses. 39 They have acquired companies that have been leaders within their industries. Kodak acquired ENCAD Inc. , one of the leading producers of printing technology and inkjet printers. This acquisition made Kodak one of the top three sellers of wide-format inkjet products. 40 Kodak also acquired Scitex Digital Printing, NexPress, Heidelberg Digital, PracticeWorks, Algotec Systems and a few other leading companies as part of its digital growth strategy. Each of these companies was a leader in printing systems, technology, communication systems, digital printing, or digital technology. Kodak†™s investment in these companies has made it very competitive within several industries. Information technology and information systems have been significant in helping Kodak to maintain and improve its competitive strategy. Information technology has played a major role in Kodaks differentiation strategy through its contributions to infoimaging and research and development. Kodaks information systems have made contributions to the healthcare division through healthcare information systems and radiology information systems. These systems, in conjunction with research and development, are used to help develop new products and technology. Information systems have also provided Kodak with assistance in determining market and consumer demand, acquisitions, and investment. They also help Kodak to maintain its cost leadership and growth strategies. Kodak dominated half of the single-use camera market. However, when many consumers shifted to digital cameras in 2003, Kodak had to change their strategy. This change resulted in grasping about 14. 4% of the digital camera market. Kodak has changed strategies from being a price leader to a growth strategy. This resulted in abandoning the 35mm camera market and entering into a new market. Kodak introduced a single-use digital camera. Their main strength is being an American icon. Likewise, their main weakness is entering new markets with no sign of being profitable because of initial costs.

What is the Purpose of Environmental Law Essays

What is the Purpose of Environmental Law Essays What is the Purpose of Environmental Law Paper What is the Purpose of Environmental Law Paper Significant developments in environmental law can be traced back to the 1800s; and dealt largely with public health concerns initially. [1]Only since the 1970s however, has ‘environmental law’ as a separate concept formed to tackle the objective of ‘sustainable development’. [2]Common law too has played an equally vital part in between these developments. [3]Indeed, the purpose of environmental laws from 1800s to present has shifted. [4]This shift in purpose shall be discussed, but firstly, taking into considerations the definitions of ‘purpose’,[5] ‘environment’,[6] and‘law’[7] ; the question shall be interpreted to ask – what the intention of the values are in law and policy,concerning the air, land, and water. Victorianenvironmental law reflected very muchthe concerns of ‘nuisances’[8] to public health. Industrialisation only accentuated these concerns within popular values and provisions were taken to intentionally rid the people of such ‘nuisance’. An early example of this creeping concern is the Factories Act 1833. [9]Victorians had mere appreciation of‘nuisance’. What would be considered as pollution in modern perspective was seen as an indicator of prosperity in Victorian Britain. [10] Nevertheless, public health concerns materialised in environmental ‘nuisance’ law. To illustrate, the Smoke Abatement (Metropolitan) Act 1853[11]provided for the control of the nuisances from smokes and vapours in the air – dangerous to human health. Similarly, the Alkali Act 1863[12] intended to place regulation on the condensing of corrosive Muriatic Acid in Alkali Factories – dangerous to public health; so as to limit its ‘nuisance’ to the public. Therefore, Victorian environmental law, despite being slow to recognise environmental significance, intended to limit the damage of these ‘nuisances’; more to the public that to the environment per se. Later, in common law, ‘mere nuisance’ transformed to actual concern for the environment itself. There was a change of opinion from tackling pollution that was already present, to trying to prevent the emergence of any new sources in the first place. As an example,the English Law, House of Lords case Rylands v Fletcher[13]will be examined. In this case it was established that if a man’s nuisances spread to another’s land, he would be strictly liable for the damage caused to the others land. Thus, these preventative measures established precedent to control citizens from creating new pollution through fear of civil action. In addition to this,the later House of Lords case of Hunter v Canary Wharf Limited[14] followed the ‘Rylands rule’ in that ‘nuisance’ (or pollution) would have legal causation to land damage only. Apparently so, this controlling intention in common law protected the environment from damage but was perhaps somewhat unfair to the private citizen in some cases. To illustrate this, if a man had suffered loss as a result of harm caused by another nuisance he would be unlikely to receive damages for example his property as in Canadian High Court case of Bottoni v Henderson. [15]Later, statutory reform wouldbe needed to proportionate and protect both environmental, as well as private interest. [16] Therefore, the purpose of environmental law developed to protective the environment more than the public as it once did in the past; despite perhaps being disproportionate in some circumstances. In post-war Britain this intention to protect the environmentcontinues[17]but, particularly after 1972 toward the principle of ‘sustainable development’;as defined by the Bruntland Report of 1987. [18] It is arguably the main purpose of environmental law today. [19]Perhaps an unsubstantiated claim, it has been argued that the principle in fact ‘†¦plac[es] human†¦ interests above†¦ environmental protection’;[20]overlooking that it intends tolimit the impact of human population on world ecosystems. [21] The Brundtland report has been criticised to say that its breadth is difficult to be incorporated into policy. [22]This is apparent in the UK up until around the mid 1990s. [23] Despite this, there has been significant intention to incorporate sustainable development; the Climate Change (Scotland) Act 2009 has done particularly well at this. [24] However, it should be asked how effective our sustainability policy really is. The Sustainable Development Commission – the policy advisor for the UK and Scottish Government is to be shut down. [25]Furthermore, this closure has been openly criticised by its commissioners. [26] The intention therefore of environmental law in modern Britain is to pursue sustainable development; all be it not realised yet in policy. In conclusion, the purpose of environmental law was once public protection, manifested by popular concern, gradually achieved through statue. In addition, later common law provided a good effort to purpose pollution prevention. Now, from international cooperation it now pursues sustainable development, if somewhat ineffective at doing so.

The Westwood High School Essay Example | Topics and Well Written Essays - 750 words

The Westwood High School - Essay Example The institution was found to suffer from several happenings in a continual manner like losing in the state basketball tournament, death of a teacher due to accident, and suspension of students owing to issues like plagiarism. However of late it is found that the sudden emergence of some scintillating incidents inside the school premises has in total disturbed the educational atmosphere of the institution. The region of Winterhaven was considered as a peace loving locality whose people worked to restore the both the aesthetics and quality of life in the region. In the current scenario however it is observed that the region is increasingly becoming the haven of drug takers and other anti-social people. This rise in criminal activity in the region has also gained roots in the campus of Westwood School where large amount of weaponry was recovered in recent times. This rise in the level of criminal activity in the school campus gained impetus because of the prevalence of an open campus fo r which miscreants from outside gained the chance of penetrating inside during the recess hours. An incident of firing in which a student of the school got injured by the act of an outsider and also the rise in the taking of drugs inside the campus disturbed the school’s atmosphere to a very high extent. ... The rise in the number of anti-socials is found to gain a huge spur in the Chicago region like that happening in the region of Winterhaven in Washington who targets intruding the educational premises in an enhanced manner (Associated Press). Alternative Suggestions for the Identified Problem The problem been specifically identified in the above case large number of potential suggestions can be rendered to the high school administration committee to help take care of the young students. Several alternative solutions like putting barbed wire for proper fencing of the school premises can be done to reduce the level of intrusions of the miscreants. Again the frequency of conducting security checks can be increased inside the school premises wherein the bags and lockers of the students can be checked by members of the school community. This activity is considered would deter the students from carrying harmful weapons and drugs provided by the outsiders. However in addition to these kind o f physical activities the school authorities and the governing body can also take the help of technical elements like putting of hidden cameras and videos across the school campus to gain live footages of student activities in a spontaneous manner. Metal detectors can also be rendered in the hands of the security guards who can do checking of the school bags of the students at the time of entry. Vehicles parked in the parking lots of the school preemies must be frequently checked to avoid the rise of such criminal activities. Moreover the school authorities are also required to encourage the support from civilian armies like police and other investigating teams who would help in tracking down

CSR - corporate social responsibility Assignment

CSR - corporate social responsibility - Assignment Example While critics indicate that CSR is mostly a self-interest and PR practice with no benefits to the society (Margolis and Walsh, 2003), supporters of the concept believe that it provides value for businesses, societies and ecosystems (Porter and Crammer, 2006). According to Haigh and Jones (2006), CSR has great potential as a strategy for value addition both business and the environment if two important conditions are achieved. The first condition is that CSR has to be integrated in the company’s core strategy while the second condition is that the company should be able to monitor the additional values resulting from the CSR. Manufacturing companies, like all other businesses, have embraced the concept of CSR for its benefits. CSR is particularly important for manufacturing firms because of the impact of their activities on the environment which have been associated with pollution and climate change. Over the past two decades, CSR strategy for environmental sustainability has been made a legal requirement for manufacturing companies in most countries (Smith, 2010). One of the companies that have been affected by this is Nokia Siemens Corporation. The company has had to come up with CSR strategies both for meeting legal requirements and for its own benefits, this paper examines the CSR strategy of Nokia Siemens Corporation, benefits of the strategy, one environmental concern it has to cope with and strategies for dealing with it. Nokia Siemens Corporation has one of the most detailed and globally recognized CSR strategies for the environment which basically touches on two important areas, products and services. Every year, the company continues to search for various possibilities for reduction of the environmental impact of its devices ad operations at each and every stage of their product life cycles (Nokia Siemens Corporation, 2012). The company largely focuses on material usage, energy efficiency, manufacturing processes, and recycling. According

Evaluation of Product; Apple's Macbook Pro Essay

Evaluation of Product; Apple's Macbook Pro - Essay Example On the other hand, outside the manufacturer environment, MacBook Pro is a fast moving product in the market. Consumer Reports ranks MacBook Pro as one of the best laptop computers in the market and a quickly moving product by consumer choice (Rawson). The evaluation of this product in terms of market and consumer setting involves three factors: the users of the product, the environment within which the product is found, and the product itself in terms of satisfying consumer tastes and preferences. The manufacturer-consumer factors and interactions give critical insights into the product in question. The product is designed to suit the end user without difficulty. Although Apple utilizes sophisticated technologies in designing and manufacturing unique and high quality for the market, end user strategies are also implemented. Simplicity in terms of usability and sophistication in terms of manufacturer and functionality are the drives of MacBook Pro. The pricing of the product takes into account the cost of production and the fact that Apple operates on a profit motive. However, due to the utilization of strategic resources and high-tech production processes, the product has affordable prices when it reaches the market (Stanton 147). Locally, regionally, and internationally, the environment within which the product is offered is a competitive one. For this reason, competition becomes vital for successful operations and market performance. The marketing strategies employed by Apple for MacBook Pro seek to address consumer needs. What makes this process different from many other rival firms is the follow-up and consumer feedback programs that Apple runs. The company designs and manufactures products with integrated consumer-based features. The product itself is crucial in the entire evaluation process. MacBook Pro’s ranking against other substitutable products is crucial in accounting for the realized product trends in the various markets where the

Law Principles in Business Company Formation

Law Principles in Business Company Formation Introduction In a modern capitalist market economy, companies are a familiar part of everyday life. Companies own supermarkets, supply gas, foods, drinks, electricity and products we are depending on. As we all know in Malaysia there are different types of business entities. Local or foreign investors are coming to Malaysia to start a business. Besides, company has been defined as three formal business entities for profit which may be a corporation, a partnership, association or sole proprietorship. However, usually are people thinking the term of company means the business is incorporated, but that is not true. In fact, a corporation usually must use some. In order to incorporate a company, there are two stages that we have to go through, which are, pre-incorporation and post incorporation. In the pre incorporation stage, the promoter is responsible to bring the company into the legal existence and ensure its successful running, and in order to accomplish the obligation he or she may enter into some contract on behalf of prospective company. Promoters are the persons involved in formation of a company. They will undertake the initiative to prepare necessary documents and do other significant works in order to register the company. The principles of law relating to the formation of a company There are various forms of business organizations operating in any given economy. The business structure in use can be defined by the legal framework under which it operates. Therefore, the rules applied to these entities are different. Some of the types of business forms include Partnerships, Sole Proprietorships, and Corporations. Other forms may include entities set up not to make a profit but sometimes for the benefit of the community. Incorporation is when a business decision is made to form a new legal entity which is recognized by law to either undertake a not for profit business or for profit business. The process of forming of a company can be divided into four distinct stages such as promotion, registration or incorporation, capital subscription and commencement of business. Usually, promotion is the first stage in the formation of a company. It refers to the entire process by which a company is brought into existence. It starts with the conceptualization of the birth a company and determination of the purpose for which it is to be formed. A private company as its name implies cannot offer its shares to the general public. The next form of incorporation is a Private Company limited by guarantee. This form of incorporation will have no share capital. Under the Companies Act, a company cannot be limited by guarantee if it has a share capital. This form of incorporation is also limited by shares. It may be referred to as the opposite of a private company limited by shares. This is because it has a share capital and limits the liability of its members to the amount unpaid on their shares. The shares held in such companies can be traded in the capital market in line with listing rules. SEPARATE LEGAL PERSONALITY The principle of separate corporate personality has been firmly established in the common law since the decision in the case of Salomon v Salomon Co Ltd, whereby a corporation has a separate legal personality, rights and obligations totally distinct from those of its shareholders. Corporate personality is a common law principle that grants a company a legal identity, separate from the members who comprise it. On the other hand, it follows that the property of a company belongs to that company, debts of the company must be satisfied from the assets of that company, and the company has perpetual succession until wound up. When a company receives a certificate of incorporation it automatically be a separate legal personality. In law when the company becomes a legal person it means its own right. This essentially means that if one commences business as a limited liability company, then the corporation or company is a legal entity with distinct legal personality separate to that of the owners, members, or shareholders. This is known as the concept of legal personality. The veil of incorporation can be described as being the separation between a company and its members. Due to the separate legal status of a company from its members this is usually very strictly maintained. However, there are certain circumstances when the courts will deny the people who run the company the advantage of hiding behind the corporate veil. In these instances the veil of incorporation is said to be lifted, the barrier between a company and its members is removed so there is no legal separation between them. There instances are however, difficult to predict as the reasons depend on the judges interpretation of fairness or policy or of how a particular statute should be interpreted. In the leading case of Salomon v Salomon Co Ltd, Salomon incorporated his boot and shoe repair business, transferring it to a company. Based on the cases of Mr. Salomon is when he was ran a boot manufacturing business as a sole trader. He and his family were shareholders and then he sold the business to the company. However, the company paid part of the purchase price to Salomon and agreed to pay the remainder over time. To secure its obligation to pay, the company gave Salomon security over its assets in the form of company charge. Effect of the charge, the company’s assets had to be used to pay out Salomon in full before they could applied to pay out the company’s other unsecured as MD. Unfortunately, the company’s business failed, the value of assets was insufficient to pay both Salomon and the company’s other creditors. However, the creditor argued that Salomon should not receive the benefits of charge, because the degree if control exercised over the company meant it should be treated as being his agent or trustee for Salomon in the conduct of the business. Lastly, the charge given by the company to Salomon was valid and he was entitled to be paid his debt even though other creditors would not be paid because of insufficient assets. This is because Salomon was not personally liable and the company was treated as operating the business in its own right which is separate from its controller. Conclusion The law as it is under the English company law will rather impute the principle of separate legal personality to a limited liability company as was the case in the case of Salomon v Salomon than apply the doctrine of lifting the veil. However the law will be ready to go after a person who takes advantage of the principle of the case in Salomon v Salomon to act in a fraudulent or unspeakable manner. It is the intent of the law is to create justice and fairness as it evidenced in both statutory provision and judicial decisions. However the principle of separate legal personality comes with it some vagueness especially when one looks at the exceptions which come with the principle. It is therefore necessary that something is done to reduce if possible eliminate such vagueness.

Free Essays - All Quiet on the Western Front :: All Quiet on the Western Front Essays

Paul Bäumer, the narrator and protagonist in All Quiet on the Western Front, is a character who develops extensively within the course of the novel. As a young man, he is persuaded to join the German Army during World War I. This three year ordeal is marked by Paul's short, but tragic trek into adulthood as he learns to cope with the trials and tribulations of war. In the wake of a struggle which claims millions, Paul loses his precious innocence as he is further isolated from society and engulfed by bloodshed. Paul's evolution throughout the novel is a result of his having to adapt in order to survive. Paul's experiences in combat shatter his former misconceptions of war; consequently, he gains the ability to reflect on events with his own accord. His naive ideas are severely challenged when he first witnesses the ugly truth of war. "The first bombardment showed us our mistake, and under it the world as they had taught it to us broke in pieces"(13). Paul's first engagement in combat reveals that everything he was taught as a young recruit are lies; consequently, he can now form his own conclusions. Through the ongoing course of the war, Paul comes to grips with the reality of the situation. "They are strong and our desire is strong-but they are unattainable, and we know it"(121). Paul realizes that the soldiers former lives are all but distant memories. His maturing personality gives him the insight to see past the facade of war and expose it for what it truly is. Paul loses his innocence and childhood during the war; as a result, he becomes a man. When Paul and his companions encounter some French women, they exchange food for sexual intercourse. "We unwrap our parcels and hand them over to the women. Their eyes shine, it is obvious they are hungry"(148). Through this transaction, Paul uses the women as an outlet for his sexual urges. Shortly after this rendezvous, Paul receives a leave of absence; however, he finds it difficult to leave the war behind. "Speak to me - take me up - take me, Life of my Youth - you who are care-free, beautiful - receive me again - "(172). Paul can no longer conjure up the feelings of happiness which accompanied his youth, in essence his childhood is lost. The war has stripped Paul of his innocence and taken away everything that he treasured.

Globalization & new trend Essay

Globalization is the hip and new trend when the discussion focuses on certain social aspects like technology, economy, business, commerce, media, entertainment, sports and communication. This is owed generally to the impact of globalization to the way individuals live in the modern day, 21st century world. Globalization is the idea that individuals can reach each other despite geographical and other boundaries that made globalization impossible before and kept life strictly local or regionalized. With the entry of the trend of globalization, the world has embraced a new concept of the world which is now closely interlinked, countries acting like small communities that houses citizens that can freely interact with citizens of another countries in real time despite the thousand miles of separation and the difference in time zones. Many believed that globalization is generally a good idea – viewers in China can watch the National Basketball Association Finals game real time, while students in Pakistan, Australia and Greenland can talk with each other simultaneously via the use of the Internet. Banking became flexible and ceased to be country-centric, and trade and commerce saw a bigger opened door that pitted international and local businessmen in a toe-to-toe battle since globalization in trade and commerce commenced. But not all of the effects of the globalization is viewed as a very positive spin on things. Everyone has caught the globalization bug, and to make sure that they do not get left behind, the street gangs of the United States of America has also stepped up and made important restructuring steps to ensure that the operation of their specific gangs transcends localized action. The street gangs of the US has gone global, and why not? As much as it is a peer group that grows because of the fulfilment of what street gangs promises to provide its members, affiliates and partners in a personal level (affinity, protection, a sense of belonging and brotherhood, etc), these same street gangs of US are also thriving because of their role in local (and now, global) albeit sometimes illegal economy. What does it mean to have a US street gang globalized? It does not directly mean that these gangs establish branches outside of US territory, say for example, Crips-China or Bloods-South Korea: this idea is at worst preposterous since the very core idea of the formation of street gangs is the creation of a self imposed fiefdom over a particular neighbourhood which they consider as their turf, the seat of their power. The creation of branches or extensions in other places or other countries will make these loosely structured gangs akin to the rigid structuring of legitimate fraternities, which they are from. While it is not far fetched that the idea of branching out happened to any of the street gangs in the US sooner or later, the globalization of these gangs is not merely defined or limited using this particular precept: they become globalized once their ‘operation’ ceases to be limited to localized action, distribution and supply pipeline construction; they become globalized when they maximize and utilize any and all available technology so that they connect with other gangs and similar entities across the globe; they become globalized when their existence becomes a part of pop culture or socially shared common knowledge even in places they haven’t even been before, due mainly to the role of mass media and how gangs are always included in entertainment materials beamed and telecast in different parts of the world, introducing them to this kind of social strata; they become globalized when their status improves to that of global prestige and renown. Klein (2001) supports the thinking of the natural course of pattern of growth of local US street gangs going outward, saying that â€Å"we have exported our American street gang culture abroad† and adding that â€Å"there are Crips in the Netherlands† and that â€Å"the particular forms of European gangs seem similar to those to be found in the United States† (pg 237). These copycat street gangs followed the same US street gang roles in their own countries, doing their part in their part of the world while US street gangs did theirs in America. Schaeffer (2002) said that â€Å"foreign mafias were based close to drug supplies but far from US government prosecutors. This meant they were better placed to obtain drugs and evade the law, particularly since government authority was weak in their host countries. There were also able to establish connections with young, aggressive street gangs based in US immigrant communities† (pg 356). The Triggers of Globalization – Like all of the other aspects of life affected by the entry of globalization, these street gangs did not just go global by itself; instead there were external triggers that acted as catalyst towards the change that these gangs experienced from being local entities to global participants. The triggers prompted the change; they allowed the gang members to see the potential and possibility of going global, in effect selling the idea of globalisation to these groups and enforcing the compulsory change at the same time. Some of these triggers include internet, telecommunications infrastructure, music, written media and movies. More and more people are becoming more cognizant of these gangs and how they work, and many impressionable kids who want to emulate the characteristics of the gang members utilize the internet for information. Even the amount of related literature available about US street gangs is voluminous, owing to the fact that street gangs and their lives and actions has been intensively chronicled by news as well as academic studies resulting to written works published both via the Internet and traditionally. Even in popular movies, music videos and television shows, US street gangs have already earned a niche as a particular group present in the modern day setting. These allowed the US street gangs to earn international notoriety and fame, and at the same time advertise themselves to the worldwide audience. At some point, these tools blew the US street gangs out of the proportion – they were overrated but criminal organizations put them inside their operations, and the resulting globalized popularity made law enforcement efforts versus street gangs in the country more stringent and strict. Conclusion – Globalization is a freight train that bumps off anyone that stands in the way, and street gangs in the US will not be exempted from the impact of globalization. Not that these gangs considers this as a bad thing to happen to them; its just that globalization imposed itself upon these gangs and not the other way around, globalization dictating the terms to which street gangs made itself amenable too, in exchange for effects that made US street gangs see more than one reason to thank globalization. Something happened to US street gangs, and that is globalization, and like any other social aspect affected by globalization, the US street gangs are changing and metamorphosing – for one, they are far from the ethos of old-school street gangs which exist solely to establish and maintain their fiefdom and establish a social status quo to their liking, particularly those under the blanket of underground and subculture worlds where sin and city merges. Now, street gangs are more business minded; they make themselves effective business entities not by power dressing nor by publicity campaign, but by the use of the only remnant of the old street gang type, a feature still found in the new and globalized street gang – violence, raw power and intimidation. The neighbourhood is now not merely a place they fight for group pride and bragging rights; it has become more important to them because it is an important section of the global pipeline to which their operation and existence depend, may it be drugs, counterfeit money, small arms, black market technology, intelligence, prostitutes, automobiles, gambling etc. Looking at the history of street gangs, it is quite predictable that such international networks would be developed sooner or later, and it is found in the very nature of the creation of street gangs. Going back to the time when the US is still starting to become a new place in the world where people can live, many different individuals with varying ethnicities and cultural background flocked the country. Naturally, there will be groups that will be dominant over the other, and there will be minority groups whose members will soon try to assimilate with those of their own ‘kind’. These are a fairly tribal instinct. Soon, the disharmony that exists between the ruling majority and the minority will become intolerable that a new group will try (and will either succeed or fail) in usurping the former majority group. This will be the cycle inside the society, and those who will grow up will find these affiliations necessary for self preservation. This is the formula that created all African-American street gangs, all Latino street gangs, all Chinese-American street gangs, all Japanese-American street gangs, etc. Soon, these groups with lineage in other countries beside America will be reconnected with their home country, and being American-Japanese, American-Chinese, and American-Mexican allows for the creation of a connection between these two countries. What the street gangs do in the US will be offered in the country where they have an affiliation to (i. e. the Latin Kings participating in drugs, guns and prostitution operations undertaken by Mexican or even Colombian crime lords, the street gangs acting as pawns and small, localized lords representing big, transnational criminal organizations). Even the transformation is natural; street gangs is as much a separate and independent type of social group as it is an integral part in the growth and regression phases of criminal groups that were once street gangs that become powerful criminal organizations and regressed back to becoming small, street gangs. Huff (1996) comments, â€Å"For decades, very few gangs have evolved from adolescent street gangs into adult criminal organizations† (pg 74), while for Repetto (2006), these groups have the tendency sooner or later to experience â€Å"regressing from sophisticated criminal cartels back to street gangs† (pg 9). References: Reppetto, Thomas. (2006). Bringing Down the Mob: The War Against the American Mafia. Henry Holt & Company, Incorporated. Ronald, Huff C. (1996). Gangs in America. University of Michigan. Sage Publications. Ronald , Huff C. (November 2001). Gangs in America III. SAGE Publications. Schaeffer, Robert K. (January 2002). Understanding Globalization: The Social Consequences of Political, Economic, and Environmental Change. Rowman & Littlefield Publishers, Inc.

Probate Code Essay

There is significance in property being classified as probate or nonprobate property in terms of the need for probate, creditors’ claims and payment of federal estate and state estate and inheritance taxes is that. If property is classified as probate then that means that it is the decedent’s property that is subject to estate administration by the personal representative. It also means that the probate property is subject to creditors’ claims and federal and state death taxes. Nonprobate property is not subject to probate because it cannot be transferred by will or inheritance. The nonprobate property goes straight to the named beneficiary or to the surviving joint tenant(s) or partners. Nonprobate property is part of the decedent’s gross estate for federal and state death tax purposes; it is subject to federal and state estate taxes and state inheritance tax. 27. Joint tenancy is different from both tenancy in common and a tenancy by the entirety. Joint tenancy is different from tenancy in common because joint tenancy is the ownership of real or personal property by two or more persons with the right of survivorship; whereas, tenancy in common is the ownership of an undivided interest of real or personal property by two or more persons without the right of survivorship. In a tenancy in common, each person has the right to hold or occupy the whole property in common with the other co-tenants, and each is entitled to share in the profits derived from the property. Unlike a joint tenancy, when a tenancy in common dies, the decedent’s interest goes to an heir or as directed in a will. Joint tenancy is unlike tenancy by the entirety. Tenancy by the entirety is a form of joint tenancy with the right of survivorship available only to a husband and wife. It cannot be terminated by one joint tenant’s inter vivos conveyance of his or her interest. Neither one of the tenants by the entirety can transfer the property or sever the tenancy by the entirety without the consent of the other spouse. 28. There are four unities required for the creation of a joint tenancy. Those unities are: unity of interest, unity of title, unity of time, and unity of possession. For unity of interest to exist, each tenant must have an interest in the property identical with that of the other tenants; the interests must be of the same quantity and duration. For unity of title to exist, the tenancy must be created and the tenants must receive their title from a single source, e.g., the same will or deed. For unity of time to exist, joint tenant owners must receive or take their interests in the property together, i.e., at the same time. Finally, for unity of possession to occur, each joint tenant must own and hold the same undivided possession of the whole property held in joint tenancy. 29. An ancillary administration is necessary if at death the decedent-testator owns any real property in a state other than his domiciliary state, and any tangible personal property in another state. The purpose of ancillary administration is to dispose of and distribute that portion of the decedent’s estate located in a state other than the decedent’s domiciliary state. 30. Community property is all property, other than property received by gift, will, or inheritance, acquired by either spouse during marriage that is considered to belong to both spouses equal in the nine community property states and Alaska if community property is elected. Things that would not be community property includes property received by gift, will or inheritance that are acquired by either spouse during marriage, property individually owned by the husband or wife before their marriage, property that is currently separate property and is traded, replaced, or sold for other property and becomes â€Å"new† separate property, and lastly, social security, railroad retirement, and veteran’s benefits.