Seylan Problem in Sri Lanka

Seylan Bank Problem in Sri Lanka | NowPublic News Coverage Search Home Local Stories Stories Go Sign In Join NowPublic Truemors Sports Strange Internet Layoffs Google Help World Newsroom Culture Apple Forum Member Ranking Tech & Biz Health Drupal Tools Style Gadgets Environment Featured Tags: Automakers Tech & Biz Seylan Bank Problem in Sri Lanka Online FX Trading World's best user friendly software Join Our Newsletter for Offers www. sevenstarfx. com by Sri Lanka Army news | December 29, 2008 at 11:26 am Share: Get Published! Tell me how to get publishedSri Lanka Army news Colombo, Western, Sri Lanka 9633 views | 6 Recommendations | 47 comments Author 47 See Sri Lanka Army news' recent stories Photos There is no danger in dealing with the regulated financial sector and Central Bank have taken several steps to build confidence in Seylan Bank by bringing it under Bank of said. Ceylon, Central Bank Governor Ajith Cabraal NowPublic on Facebook Login He further said â€Å"We assure you that they can continue transactions without any danger. † According to the CSE Seylan Share Prices NowPublic on FacebookLike Confirm You like Page  · In You like Page  · In increased by 33%. Normal share prices was 20. 50 Rs and now it is 27. 00 Rs. Sri Lanka's stock market (CSE) investors have already given a shares surged LBO said yesterday. NowPublic The rain will have already washed the chalk away. Friday at 5:24pm ArtWalk Riot: Police vs Protesters over Sidewalk Chalk (Video) | NowPublic News Coverage 5,914 people like NowPublic. 5,913 people like NowPublic. thumbs-up to the regulatory action, and Seylan Yesterday 30th Decmber 2008 Central Bank appointed Mr.E Narangoda as the new Gunawardene as the new Board of Directors. Chairman of the Seylan Bank and Mr. Nihal Jayamanna,Mr. Lalith Vithana and Mr. Niyomal Seylan Bank PLC is a privately owned commercial bank in Sri Lanka brought under Bank of Ceylon (BOC) control since Yesterday 29th December 2008 by order of Central Bank Monetary board. This was taken place under Section 30(1) of the Monetary Law Act No. 58 placing it among the top 500 Banks in Asia for the past 08 consecutive years. The Bank over Central Bank of Sri Lanka. of 1949.Seylan Bank is the Sri Lanka's 2nd largest private commercial bank with Asiaweek saddled with bad debt that threatened to destabilize Sri Lanka's financial system was taken Facebook social plugin Meanwhile The Monetary Board of the Central Bank wishes to inform the public that they should continue with their normal financial transactions with Seylan Bank PLC and that the Monetary Board assures the public of the safety of deposits and the stability of the financial system. What is NowPublic? NowPublic lets people work together to cover news events around the world. ttp://www. nowpublic. com/tech-biz/seylan-bank-problem-sri-lanka[7/16/2012 6:21:38 PM] Seylan Bank Problem in Sri Lanka | NowPublic News Coverage The Central Bank appointed the government-owned Bank of Cey lon to continue business operations at the troubled Seylan Bank and removed its board of directors. The decision Central Bank said. was made because of increased deposit withdrawals and suspected liquidity problems, the Find out more â€Å"The difficulties of Seylan Bank PLC presented a potential danger to the stability of the financial system,† the statement said.Deshamanya Lalith Kotelawala, chairman of Ceylinco Group said last week he would sell his shares to repay investors in failed Golden Key Credit Card Company. Both Seylan Bank and would divest or what amount he is expecting to raise from selling his shares. Golden Key are subsidiaries of Ceylinco Group. Kotalawela did not say how much shares he Recommend this story Most Recommended Comment Comment on this story I think the media has made this a big issue .. All i can say is our Bank is†¦ Crowd Power An Employee (not verified) But the bank's CEO Ajitha Pasqual was quoted in a newspaper saying â€Å"it could be 2 3-25 percent or even more. Seylan Bank trouble started as Golden Key Credit Card Company, an unregulated firm in the Ceylinco group got into trouble as the Golden Key Credit Card Company was unable to repay its customers due to its financial instability. People who were dealing with the bank worried about the financial status of the Seylan bank following the problem with some of the financial institutions in Ceylinco group. The Central Bank said it was â€Å"discontinuing the services† of the board of Seylan Bank but retaining the current chief executive officer and employees.First Flagged at 10:46 PM, Dec 29, 2008 by Sanjay Jha These members have powered this story: Sri Lanka Army news Colombo, Western, Sri Lanka In its press release on the latest development the Seylan Bank said, â€Å"what is intended for sale are not the assets of the Seylan Bank, investments made by the bank or any shares owned by Seylan Bank. Further we wish to inform that Seylan Bank will not use the depositors’ funds to meet the obligations to Golden Key Credit card holders. † Related Stories What have the LTTE's NGO/INGO friends being doing in Sri Lanka?†¦ y chanaka The collapse of the Golden Key Company and the Problem of Seylan Bank was the first sign of international financial woes hitting the economy and Financial System in Sri Lanka. Earlier Monetary Board of the Central Bank of Sri Lanka named 6 Person carrying on finance business without authority including Sakvithi Ranasinghe(Sakvithi House Constructions (Pvt) Ltd )and Piyadasa Ratnayake (Danduwam Mudalali). Becasuse of these things Depositors trustworthy towards Financial Institutions has been diminishing and it will lead to a big crisis.Tamil Nadu sleeps while deadly serpants breed under the pillows -†¦ by chanaka Defence Website Blasts â€Å"Bbc Sinhala Service† by chanaka Deshamanya Dr. Lalith Kotalawala is the Chairman of Ceylinco Group which includes more than 100 companies was born to a rich family and his uncle Sir John Kotalawala the third prime minister of Sri Lanka. Deshamanya Dr Lalith Kotelawala stepped into The Finance Company's Chief Executiveship in the 1960's, and its dynamic transformation under his stewardship, established his credentials as one of the country's leading businessmen.His thirst for greater challenges spurred him on to diversifying into a variety of other businesses. He was Sri Lankan only businessman who had long vision about Sri Lanan Poverty crisis. Ceylinco Gramine Credit Company for the upliftment of families from the bottom up, the poorest of the poor also floated Ceylinco Agricultural Credit Company for agricultural sector assistance. He started even a banking institution to liberate poors from poverty, started a scheme to give seed capital to unemployed graduates who have no access to capital and who have no security to start own businesses.When Tsunami hit Sri Lanka Ceylinco Group helped in many ways for Tsunami victims to st art a new life also all insurance claims although none of them were covered for Tsunami could gain claims. Ceylinco Group is the leading contributor to the society and meet social responsibilities than any other throughout past 60 years. The gender gap in the world today. by gerrypopplestone Luang Prabang – A Place where Heaven meets Earth by forextrade Recommendations (6) Most recently recommended by: sathyajith Germany Hiranya Malwatta Moratuwa, Western, Sri Lanka Anonymous users (2)Seylan Bank PLC is a privately owned commercial bank in Sri Lanka, which is owned by the of Sri Lanka. Seylan Bank was incorporated in 28th August 1987 as a Public Limited Liability Company. corporate giant Ceylinco Consolidated. It has branches both in urban as well as rural areas Track this Story email story to a friend Seylan Bank established its first subsidiary, Seylan Merchant Bank Limited, in 1992. A second subsidiary, Ceylinco Seylan Developments Limited, was also established in 1992, ht tp://www. nowpublic. com/tech-biz/seylan-bank-problem-sri-lanka[7/16/2012 6:21:38 PM]Seylan Bank Problem in Sri Lanka | NowPublic News Coverage primarily for the purpose of constructing the Bank's head office building, Ceylinco Seylan Towers. Seylan bank had 114 banking centres island wide with 3900 staff members in 2007. Special Thanks :The Associated Press LankaeNews and TNS Cyber. Alwis Reporting from Colombo Related Topics Bank of America Checking Account Free Checking CD Rates Bill Pay Certificate of Deposit Advertisement 5 0 See all footage | View Slideshow Share: email story | add to any | | facebook | stumbleuponSanjay Jha flagged this story as Eyewitness Report at 22:46 on December 29th, 2008 This is an eyewitness report from the NowPublic member Sri Lanka Army news who is in Sri Lanka reporting about this story from the on the ground. Comments (47) recommend Most Recent Most Recommended This comment thread is now closed 3 3 An Employee (not verified) at 22:25 on December 2 9th, 2008 I think the media has made this a big issue .. All i can say is our Bank is stable . But if the media keep on saying things like this definitly the customers will widthdrw their deposits . nd coz of that the bank will collapse .. We love our bank ! Long Live Seylan !! http://www. nowpublic. com/tech-biz/seylan-bank-problem-sri-lanka[7/16/2012 6:21:38 PM] Seylan Bank Problem in Sri Lanka | NowPublic News Coverage 1 1 Parakrama (not verified) at 07:43 on December 31st, 2008 An illegal detention camp that Ceylinco boss Lalith Kotalawala allegedly ran under a cover of a children`s home is now under investigation. According to the Sinhala weekly Lanka the Wattala Magistrate last week ordered that eight children in this camp be handed back to their relatives.This follows a probe that the Child Protection Authority conducted on a in this camp without in any legal basis. CPA police officer Wijesinghe Vithana conducted the inquiries. Two weeks ago, unknown persons had thrown excrem ent into Lalith interview where he praised the LTTE as genuine freedom fighters. complaint made by the Venerable Elle Gunawansa. The CPA which raided this detention camp found that tsunami orphans from the South were kept Kotalawala`s Ceylinco Insurance (Kantalay Branch) following his Gulf News Demonstrations were held in several areas against his statements on the Tigers.Ceylinco Group employees have found themselves in an embarrassing situation as a result. The company`s top executives say that this could adversely affect its business 2 2 47 Sri Lanka Army news at 23:18 on December 29th, 2008 No I think Deshamanya Lalith Kothalawala's Statement and CEO Ajitha Pasqual Statement regarding Golden Key Issue was the reason for increased deposit withdrawals from Seylan Bank. Finally Central Bank decided there may be some liquidity problems and potential danger to the stability of the financial system in Sri Lanka. 1 1 47 Sri Lanka Army news t 01:21 on December 30th, 2008 Money withdrawa ls from Seylan Bank Counters is today increased than Earlier Days. Zaviniya Dain (not verified) Dear Viewers, Our chairman Deshamanya Lalith Kotalawela is not a person like Sakvithi. Do not compare Sakvithi with Mr. Kotalawela. Seylan Bank is a bank with a heart and not allow any customer of our s to fall off. Wrongly, communicated via media gives wrong info to people and our bank customers too are withdrawing. but have Dearly loved Mr. Kotalawela any day said will not give or hidden himself for the people to be scared.As well why withdraw Central bank has given a brief statement and give the assurance to our Seylan Customers. And Mr. Kotalawela is a person who helped the needy at all times definitely seylan or his employees will not fall off. we are confident of ourself as well with our dearly loved Chairman Mr. Kothalawela So we will trouble shoot any issues which come across and build up Seylan plse do not produce bocus info dear media plzee 1 1 at 01:46 on December 30th, 2008 ht tp://www. nowpublic. com/tech-biz/seylan-bank-problem-sri-lanka[7/16/2012 6:21:38 PM]Seylan Bank Problem in Sri Lanka | NowPublic News Coverage 1 1 Parakrama (not verified) Hi, Dear Lady, at 05:31 on January 1st, 2009 I red your letter about your Boss (Dr)I am not surprising to read that when guess what has happen with my experience and I have mentioned in my you have been well fed by working for him. I can not say any thing about Golden Key subject because I do not know what has happen really. But I can letter in another place of this column. I am sure one thing He is a â€Å"Heartless Chairman in a Bank with a Heart† He has defaulted me sum of Rs 750,000. 0 by the purchase of â€Å"Ruskin Island† and your The Finance Co. Ltd (which under his conglomerate) tried to default our legitimate commission from the sale of Property situated near Uyanwatta Lake, at Kotalawala, Piliyandala and subsiquently paid the 3% commission, Leagle Interest for three and half years, Court Charges and attorney's charges in the District Court, Colombo. If you like you can check on this and come to a final conclution about your Boss. God may Bless you! AND ONE THING THIS IS THE FIRST STEP OF THE FALL OF COGLOMARATE AND YOU WILL SEE WHAT IS GOING TO HAPPEN IN NEAR FUTURE! 1 Audrey Barber (not verified) at 01:52 on March 18th, 2009 Dear Zaviniya, Og dear child, you too been brain washed by the â€Å"Great Deshamanya† Too bad girl for you, please grow up and get out of that cocoon you are in. Try to to face the facts, so if these people to whom you seem to have a great crush on and sing hossana's too, where is Deshamanya charming wife. Oh dear don't tell she abandoned † Lion Heart† himself and ran away why? I am a depositor at Seylan Bank and i work overseas, and should my funds be stolen Beleive me lady â€Å"All hell will break lose†.I will certainly go on a rampage. Go tell your great Deshamanya to start repaying every stolen penny to each and every person he owes. Then you can start singing praises about him. Go tell you Golden Hearted Deshamany to start selling his assets and rectify the damage he has caused, and kinly ask him it is no use that he plays innocent.. No one beleives that crap which is actually bullshit. All businessmen are total knaving educated crooks give them a chance and they go berserk. Saminda Kodithuwakku–Employee from theDevelopement Bank (not verified) at 03:30 on December 30th, 2008 1 1Dear People, You all are getting this scene too badly. I know the situtation as a banker. No any customer will be affected by this situation becuase Dr. Kotelawala ,in this moment,has taken to compensate the depositors in Golden Key by selling his shares, not selling properties & others' shares. This is a good lession to other companies. I wish you-Seylan Bank, it will be the best bank of year 2009. Do not abosorb rumors, please search do things http://www. nowpublic. com/tech-biz/seylan-bank-problem-sri-lan ka[7/16/2012 6:21:38 PM] Seylan Bank Problem in Sri Lanka | NowPublic News Coverage 1 K. D Uditha pushpakumara (not verified) at 05:25 on December 30th, 2008 Dearly Mr. Lalith Kotalawala. the Bank.. I wish to the Seylan Bank and We are expecting a good news from Your†s fathfull Custormer uditha. Lankan Abroad (not verified) 1 1 at 04:06 on December 31st, 2008 Did Laith K and his clan run a â€Å"PONSI SCHEAME†? Did Lalith K and his clan do a Sri Lankan â€Å"Berny Madoff(MADE-OFF)†? Should'nt Lalith K as Chairman of th Board of Directors of Golden Key be held responsible for this Scam? Is Lalith K stupid and ignorant to go public and pass the buck on to a sacrificial lamb in Khavan P?Is Lalith K again stupid and ignorant of not knowing what assets were their in Golden Key books to support the massive LKR 26 Billion deposit liability? Is Lalith K, who has a mile long list of qualifications after his name, yet again stupid and ignorant to go public and state he was not aware of what was happening at Golden Key? Is this not cheating? Why do we have legislature in Sri Lanka to prosecute persons for criminal breach of trust? Should'nt the entire Board of Directors of Golden Key be held responsible fo this heinous crime and prosecuted for criminal breach of trust?Can some sane Sri Lankan please provide answers to this question. Another Lankan abroad (not verified) at 01:57 on March 18th, 2009 1 1 I agree with your statement 100%, however, I am a bit scared as I do have an account with Seylan. I am working overseas. I do understand that BOC has now stepped in, but still could there be any possibility that Seylan will collapse any leakage with another rotten egg planted inside to swindle the poor mans funds, from beneath the BOC administration. Sugath C. (not verified) 1 1 at 13:54 on December 31st, 2008As to my knowledge any individual or group of companies can own only15 percent of total shares of licenced commercial bank. How can Ceylinco group bypass that legislation? According to the SL press they own around 48percent of Seylan bank shares. How was it possible Parakrama (not verified) 1 1 at 05:14 on January 1st, 2009 Normal 0 false false false MicrosoftInternetExplorer4 st1:*{behavior:url(#ieooui) } /* Style Definitions */ table. MsoNormalTable {mso-style-name:†Table Normal†; http://www. nowpublic. com/tech-biz/seylan-bank-problem-sri-lanka[7/16/2012 6:21:38 PM] Seylan Bank Problem in Sri Lanka | NowPublic News Coverage so-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-para-margin-bottom:. 0001pt; mso-pagination:widow-orphan; fontsize:10. 0pt; font-family:†Times New Roman†; mso-ansi-language:#0400; msofareast-language:#0400; mso-bidi-language:#0400;} A Philanthropist, one of the richest man in the Country, and a patriot of the a goat skin. mso-style-parent:†Ã¢â‚¬ ; mso-padding-alt:0in 5. 4pt 0in 5. 4pt; mso-para-margin:0in; country, Saviour of the nation! But v ery few people know he is a wolf covered with This is to reveal himself, who he is, to the people who do not know the truth.The two incidences explain his indecency, and ungrateful attitude to the poor people. Me, the writer of this article has been played out by so called â€Å"DESHAMANYA† in two different times. I am the Real Estate Broker who promote the selling of property â€Å"Ruskin Island at Bolgoda Lake, Moratuwa. One fine day I met â€Å"DESHAMANYA† at his office at Fort (in front of Hotel Continental) 3rd floor after a greatest difficulty and waiting in the list for one full month. And I submit the necessary site plan of â€Å"Ruskin Island† and other relevant details to consider of purchase.And we had a nice chat and he was kind enough to receive me in his office for a period of 15 minutes. One month after he sent me a letter saying that he has consulted in Managers and this island is suitable for a Hotel Project and therefore he is not interested i n purchasing this property, which price has marked as one million Dollars (Equal to Rs 50 Million according to the foreign exchange rate at that time) After some times I heard the â€Å"Ruskin Island† has been sold and I made my investigation and found Our â€Å"DESHAMANYA† has bought for Rs. 25 Million from the seller.Normally it is not in practice in Sri Lanka to provide a whole list of customers who have been introduces any property. Specially someone issue a letter and mentioned that he is not interested and we would not submit his name or an identity to the owners of the respective property. Knowing all the factors I wrote a letter to So called â€Å"DESHAMANYA† and pleaded to looking to this matter and asked him to compensate my legitimate commission 3% which I could not claim from the seller’s due to the hidden transaction initiated by â€Å"DESHAMANY â€Å" and the seller.Now â€Å"so called â€Å"DESHAMANYA† should have inform me in tim e since I was the respective introducer to claim the commission which he never did it. When I inform him, his inability of informing me that I have to incurred a loss of Rs. 750,000. 00 and emphasize the his negligence of ethics of business, he sent me a reply saying that he has conclude the transaction with the sellers directly and since my name has not come up during the transaction and discussions he could not do any thing and he denied to pay anything or stated that he has finished the transaction and nothing can be done for this.Normally when his company buy a property they pay 1% of the total value. He didn’t let me receive my legitimate commission from the seller or even 1% which his company pays once they buy a property. And he was not kind enough to identify my efforts of selling the property and he left me on the lurch by transacting secretly. When I demand money his Attorney has send me a threatening letter saying that they will go to the law of court against me if I bother â€Å"DESHAMANYA† any more. That is how he conducts real estate business with brokers. Second incident was a Court Case.I was working with a friend of mine called Mr. Adhikari from Athurugiriya and one of my clients wanted a property in a water front location around Cololmbo. One day there was an advertisement in the news paper and state a availability of property facing â€Å"Uyanwaththa Lake† @ Kotalawala Piliyandala. I spoke to the http://www. nowpublic. com/tech-biz/seylan-bank-problem-sri-lanka[7/16/2012 6:21:38 PM] Seylan Bank Problem in Sri Lanka | NowPublic News Coverage advertiser (The Finance Co. , Ltd) and found the location went there and discussed about the terms & conditions.They promised us and to pay 3% of the total sale value and we offered My client Mr. Ishara Nanayakkara and he liked the place and wanted to purchase. The Company gave me a promising letter to pay 3% and I introduced Mr. Nanayakkara as purchaser. After that negotiations were going on and all over suddenly the transaction concluded secretly and sold it for Rs. 21 pay 3% commission , Interest for 3 ? years, Court charges and Attorney’s three and half years to get a verdict and we won the case and Company had to Million and neglected to pay our commission and we went to courts. And it took charges respectively in District Court.NOW YOU WILL REALISE WHO IS SO CALLED DESHAMANYA AND HIS CONGLOMARATE AND HOW THEY MINTING MONY BY DEFAULTING POOR PEOPLE. THIS IS ONLY TWO INCIDENTS AND THRERE ARE KEEP IT UNDISCLOSE! INVAIN POOR PEOPLE!! Ramani Viswanath (not verified) at 06:53 on January 1st, 2009 THOUSANDS DEFAULTS WHICH HAS NOT COME FORWARD AND MOST OF VICTIMS 1 1 First of all, the Finance Director of Golden Key Group to be punished. He is running a collage (Vidhura Collage) and his friends and relatives running independent companies under Golden Key Group (Udaya Dharshana Rajapakse Chief Operating Officer – Golden Key Consumer Products Ltd, Mr.Bi mal Mudalige – Ceylinco Consumer Electronics). Obviously, finance for all these companies were diverted from investor funds of Golden Key Credit Card. Government should immediately attach properties of Mr. Saradha Sumanasekara, the Finance Director of Golden Key and put him behind bar for fraud. Manohar Arasu (not verified) at 08:06 on January 1st, 2009 1 1 There were lot of depositors funds diverted to several companies run by Finance Director. These companies were incorporated just to give employment to Finance Directors friends and relatives.Executives of these companies travel overseas extensively only to claim US$250 per day. Some of the employees (with â€Å"O† level education) visit China,Singapore,Bangladesh and Australia to claim overseas allowances. Absolutely, there were no control of mis-use of money in Golden Key. My close relative is employed with Golden Key and these inside information is available since very long. The government should immediately attac h properties of all the Directors of Golden Key and the business run by them. It is also known to everybody that Finance Director of Golden Key is running a collage called Vidura Collage. enganath (not verified) 1 1 at 03:09 on January 26th, 2009 you are the one who was thrown out of GK, due to fraud, so no point talking 1 1 Ajith Gunawardena (not verified) at 06:31 on January 2nd, 2009 The Finance Director of Golden Key is reachable at the below address for any information with regard to position of depositors money. Mr. Saradha Sumanasekara-Group Financial Director, Home Adderss:924/15A,Udawththa Road, Malabe. Mobile: 072-2251504 Office Address: The Golden Key Credit Card Company Limited Ceylinco Centre, 2 R. A. De Mel Mawatha, Colombo – 04. Sri Lanka.Tel : +94 74 523700 / +94 1 2591748 Fax : +94 1 2502424 / +94 74 519721 E-mail: [email  protected] co. uk [email  protected] com He is alsos contactable at ; http://www. nowpublic. com/tech-biz/seylan-bank-problem-sri-lank a[7/16/2012 6:21:38 PM] Seylan Bank Problem in Sri Lanka | NowPublic News Coverage 22, Kirimandala Mawatha, Nawala, Rajagiriya. Sri Lanka. 011 2 866 238 Telephone 011 4 404 260 Fax 011 2 871 861 1 1 Manohar Arasu (not verified) at 12:11 on January 2nd, 2009 Why not government attach properties of Mr. Khavan Perera and Saradha Sumanasekara, the main culprits in the scam ?These two high flying executives must have diverted funds to their friends and relatives. It is appeard in print government should put them behind bar without bail. Nobert Appuhami (not verified) at 19:08 on January 2nd, 2009 media couple of days back 150 Million rupee is credited to one of the female staff of Golden Key working under the Finance Director ! This is the high time 1 1 There is talk going on within Golden Key that Group Finance Director of Golden Key invested heavily in real estate and purchased an independent villa in Italy where his sister is living. He also own Vidura College and overnment should inv estigte where all the investor funds has gone. Kumar Wickramasinghe (not verified) at 20:50 on January 2nd, 2009 1 1 Ceylinco Consumer Electronics and Golden Key Consumer Products are companies under Golden Key Group headed by close friends of Golden Key Group Finance Director. It is an open truth that the Group Finance Director mis-used investor funds and even running a college (Vidura College). Ano (not verified) 1 1 at 01:43 on January 4th, 2009 Please be kind enough to pay atleast some kind of amount to large depositers too . since they have deposit all their money trusting you Mr.Kothalawala. I sold my house and depositted all my money in your company. Please help us to live†¦. 007 bond (not verified) 1 1 at 05:33 on January 8th, 2009 if you have invested with seylan think twice before you make a decision. What we have heard is that Mr Kotalawala has pumped out a huge sum of public funds in the recent past mainly to singapore and also to fund group companies. Also he has a pproved massive loans to group companies from the bank. If the repayment of those loans fall into arrears , god knows what will happen to the depositors. piyadasa boy (not verified) 1 1 at 05:45 on January 8th, 2009 hamunge salli thamunta watinawanam karunakara deparak hithanne nethuwa fitch ratings top Commercial hari HNB hari bank ekakata ikmanatama maaru karaganna. Pramadaya pasutheweemat mulaki. Keeping your funds @ Seylan Bank @ this moment is like eating Curd with a Razor blade !! Truly kalinga silva (not verified) 1 1 at 17:53 on January 8th, 2009 you are right piyadasa boy. I will withdraw all my funds today. Also i will update my friends as well. Thanks for the information. http://www. nowpublic. com/tech-biz/seylan-bank-problem-sri-lanka[7/16/2012 6:21:38 PM] Seylan Bank Problem in Sri Lanka | NowPublic News Coverage 1 Mrs weerakoon (not verified) at 18:02 on January 8th, 2009 when i went to seylan bank to withdraw my deposits, the lady who was handling deposits asked me à ¢â‚¬Ëœ ai salli ganne ? Bankuwa weten ne ! Bayadha bankuwa wetei words might work. But rather than worrying about a bank i have other work to attend. Its my money after all i have the power to do what ever i want from it. Who knows whether Seylan would end up like Golden key ? PQR (not verified) kiyala ? Central bank eka kiyala thiyanawane weten ne kiyala ! Well for some these 1 1 at 01:06 on January 11th, 2009 May God help all those who are been affected !!!! a s sampath (not verified) 1 1 at 23:46 on January 15th, 2009 tha was a big problem in srilanka 2 2 47 Sri Lanka Army news at 01:45 on January 16th, 2009 Ceylinco Chairman Lalith Kotelawala and the Golden Key Credit card company board members were today named â€Å"suspects† by the Mount Lavinia Magistrate courts in the credit card scam and ordered to give statements to the CID on January 20. 2 2 Appuhamy (not verified) at 21:51 on January 21st, 2009 I understand that majority of Golden Key depositor funds are shared be tween Khavan Perera and Saradha Sumanasekara (Golden Key Finance Director).It is learnt that lot of money has already taken out of Sri Lanka. Government should atleast now attach the properties of these people including Vidura College where Saradha put several million rupeese and he is the finance director so that the poor investors will not suffer. 007 Bond (not verified) 1 1 at 00:01 on January 23rd, 2009 Seylan bank has to spend millions for month to maintain their top management ( Gm,Sdgms, Agms ) even BOC or PB does not have this much of top managers. At this juncture i suggest to minimize any unwanted wastage bank funds since it too will effect banks current position. 2 next †º last  » This story was created over 3 months ago, the comment thread is now closed. in Sri Lanka, Tech & Biz, quot Sri lanka Colombo, seylan_bank_trouble, seylan_bank_problem, central_bank_sri_lanka, bank_of_ceylon_and_seylan Contact Blog FAQ Media Inquiries Examiner. com Copyright Privacy Terms of Use Code of Conduct Jobs http://www. nowpublic. com/tech-biz/seylan-bank-problem-sri-lanka[7/16/2012 6:21:38 PM] Seylan Bank Problem in Sri Lanka | NowPublic News Coverage http://www. nowpublic. com/tech-biz/seylan-bank-problem-sri-lanka[7/16/2012 6:21:38 PM]

Herd Behavior in Financial Market Essay

Definition of herding On Friday 14 September 2007, when Northern Rock in the UK opened it branches, many customers wanted to withdraw their savings and à ¯Ã‚ ¿Ã‚ ½1 billion, about 5% of the total bank deposits were withdrawn that day. And on Monday 17 September, a similar situation happened in front of Northern Rock branches in the UK. Even though every customer does not have the same amount of information, they all decided to behave in the same way and some were following the others on the following days without any clear plan. People thought that they were going to lose their bank deposits and that type of bank customers’ behavior caused liquidity problem and made the situation even worse. However, none of the clients who kept their deposits lost due to the fact the British Government and the Bank of England would guarantee the safety of the deposits. How can we explain that kind of behavior? Originally Herding is a term meaning animal flocking behavior. And according to the definition of Wikipedia Herding is the act of bringing individual animals together into a group (herd), maintaining the group and moving the group from place to place-or any combination of those. Apart from this bank run case, Herd behavior describes how individuals in a group can act together without planned direction. POSSIBLE EXPLICATION AND MECHANISM OF HERD BEHAVIOR Animals’ Herd Behavior According to evolutionary biologist W. D. Hamilton’s theory animals are forming a group to reduce the danger of being hunted by predictors. As a unit, they are moving together to the same direction. Animals are behaving in the same way to minimize the risk on the behalf of self-protection. Maybe this kind of behavior sounds rational if the result is always optimistic but copying your neighbor can be the worst decision sometimes. When something goes wrong and someone leads the group to the wrong direction, the whole group is going to be in danger. Human Herd Behavior However, human herd behavior is much more complicated than animals’ one and several scholars tried to explain it. Friedrich Nietzsche referred it as â€Å"herd morality† and the â€Å"herd instinct† which explain the phenomena when a lot of people are behaving in the same way at the same time. And according to Thorstein Veblen’s theory, some people imitate the other people with higher status. Human beings are continuously competing with others in order to survive or surpass others, and they try to move faster in order to take advantage of the others. As the proverbs says the early bird catches the worm, they think the faster they make the decision or do whatever they can, the better it is. However, this does not always lead to success. Those decisions are based on the sources they have and the sources are Sanctions upon deviants – dictators put their rivals in the prison (opposition is not allowed) Preference interactions – some people are wearing Burberry coats just because the majority is wearing it while others prefer to wear coats with the colors they like Direct communication – someone from your reference group or someone with credibility says that s/he likes certain products Observational influence – you observe the consequences of others’ actions Based on such sources, people make decision whether to herd or disperse, but people are herding for different reasons and their behavior is classified into several models. Herding Models Payoff Externalities Models (also called Network Externalities) – If more people are using facebook, it will attract more people to use facebook. In this case, people feel like they have to participate in the same situation so that they can have the same benefits. Information Cascade Models – When you have a flood of information coming in, it is much more difficult to make a rational decision. Nowadays there are too many sources to consider and you can barely judge if information is true or false. In this kind of situation, people are getting irrational and they tend to make decision based on the decision of the majorities, and this situation is called information cascade which occurs when people observe the actions of others and then make the same choice that the others have made, independently of their own private information signals. They are seen in groups under immediate stress from external forces, such as herd behaviour. A cascade arises naturally when people usually see what others do but not what they know. Because it is usually sensible to do what other people are doing, even this can be against what the individual believes to be true. This behavior is independent from their own private information or opinion. Concept of information cascade is based on observational and social learning. People learn from their environment. Generally, people are oriented to avoid negative consequences of their decisions or behaviors. They wish to have positive results or effects. That’s why their behavior is related to social and observational learning. People subconsciously have the idea of ‘It is more likely that I am wrong than that all those other people are wrong. Therefore, I will do as they do’. Examples of Herding Behavior Bank runs: depositors running on banks when they observe other depositors doing so. More specifically, First; investors can observe in long run when others are running on banks. Second, forcing long-term projects to liquidate early possibly leads to shortfall of funds. From the payoff externalities model’s view, people are withdrawing their deposits because they feel like they are losing their money if they keep their money on the bank account. And from informational cascade model’s view, some people may think they are not going to lose their money on their bank account but they are following the others because they think they are not wise enough and others are withdrawing their money. In real case, Argentina experienced such a run in the last two days of November 2001, with total deposits in the banking system falling by more than 2 billion (US) dollars, or nearly 3 percent, on the second day of the run alone.1 Such runs were a common occurrence in the United States in the late nineteenth and early twentieth centuries and have also occurred in recent times in several developing countries, including Brazil in 1990 and Ecuador in 1999. Asian crisis of 97-98, herding and speculation infection The Asian crisis of 1997-98 that led to a regional economic fall in East Asia can be traced to overexpansion and under-regulation. The center of the Asian crisis was Thailand’s careless macroeconomic management that featured a fraudulent financial sector. The Asian expansion of the crisis was a due to the existing global financial integration (and similar export dependencies), current account inequities and attached exchange rates all mixed with the damaging effect of speculation and herding spreading all over the region. Resulting structural reforms and adjustments in Thailand and other damaged Asian nations came from the International Monetary Fund. A major result was a balanced exchange rate regime now prevalent in much of East Asia. Facts: During 1995 a number of experts started to wonder if the countries of Southeast Asia might be vulnerable to a macroeconomic crisis do to the poor administration of its financial procedures and to the volatility of their related economies. The main indicator was the rise of very large current account deficits among several Asian countries. Closer examination also revealed that several of the countries had developed some financial weaknesses: heavy investment in highly speculative real estate ventures, financed by borrowing from badly informed foreign sources or by credit from non regulated domestic financial institutions. It’s now known that during 1996 officials from the IMF and World Bank actually began warning the governments of Thailand, Malaysia, and other countries of the existing risks by their financial situation, and asked them to apply corrective policies. However, those governments rejected the warnings. On July 2 1997, after months of declaring that it would not happen, the government of Thailand abandoned its efforts to maintain a fixed exchange rate for its currency, the baht. The currency was quickly depreciated by more than 20 percent so within a few days most neighboring countries fell like Thailand. What forced Thailand to devalue its currency was the massive speculation against the baht, assumptions that over a few months had consumed most of what initially seemed as a large war of foreign exchange. And why were speculators betting against Thailand? Because they expected the baht to be devalued, of course. This kind of circular logic – in which investors escape a currency because they expect it to be devalued, and much of the pressure on the currency comes precisely because of this investor shortage of confidence – is the defining actor of a currency crisis and is known as Bank Run theory. In the context of a currency crisis, such behavior could mean that a wave of selling, whatever its initial cause, could be magnified through complete imitation and turn, into a rush out of the currency. Bank run in Thai currency devaluation can be viewed in two main behaviors. First; investors run when other investors are running the bank; a magnified opinion of a certain group starts to be spread in some others by just herding or imitation. Second, when banks that were investing in long-term projects were forced to liquidate early (because of the invertors running away), there was a potential lost of funds. Consequently, the last depositors to withdraw were left empty-handed (first-come, first-served limitation). BUBBLES Bubbles are sort of mass errors caused by the nature of herd. Even though there is a convincing evidence of bubbles, people are still overly convinced by their belief that market is efficient and rational. Therefore people are optimistic of their investment and they take part in the bubble. Some people may doubt the situation and find some evidence of bubbles but they still invest their capital in the market because others are doing it which is a sort of informational cascade. However, the bubble collapses and that sort of herding behavior makes the impact of the collapse much significant. The Dot-com Bubble The dot-com bubble (also referred to as the Internet bubble) was a speculative which had its climax on March 10, 2000, with the NASDAQ hitting up to 5132.52 but closing at 5048.62 in the same day. During the dot-com bubble period mostly the developed countries experienced the growth in the Internet sector and related fields. Companies such as Cisco Systems, Dell, Intel, and Microsoft were the dominant player of NASDAQ. And related to the Internet business a group of new Internet-based companies commonly referred to as dot-coms were founded. Just because of the fact that Companies had a name with an â€Å"e-† prefix to their name and a â€Å".com† the stock price was going up. Investors were overly confident of their future profits due to the advancement of technology and individual speculation while they overlooked traditional stock market value until the bubble was collapsed. Conclusion As we can see massive herding behavior turned out to be a cause of crisis at the end, and herd behavior is seen as something very negative to the market. As we have seen bank runs, bubbles, and several forms of crises. However, we cannot prevent from herding because it is a sort of instinct and it is closely related to psychological factors. Partially, individuals can make profit of their herding behavior as they are following famous investors such as Warren Buffet but the fact is that no investor can really avoid bubbles and forecast the coming crises. What we have to remember is the financial market is a complex of rational and irrational behavior and we can barely categorize them before the disaster happens. We have to be prepared of the consequence the herd behavior and be rational when the irrationality happens. Works Cited BIKHCHANDANI, S., 1998, Learning from the behavior of others: conformity, fads, and informational cascades BIKHCHANDANI, S., D. HIRSHLEIFER and I. WELCH, 2001. Informational Cascades and Rational Herding: An Annotated Devenow, Andrea and Ivo Welch, 1996, Rational Herding in Financial Economics, European Economic Review 40, 603-615 Ennis, Huberto M. and Todd Keister, 2009, Bank Runs and Institutions: The Perils of Intervention. Hirshleifer, David and Teoh, Siew Hong, 2011, Herd Behavior and Cascading in Capital Markets: A Review and Synthesis, MPRA Paper No. 5186

Contracts forming Case Study Example | Topics and Well Written Essays - 1000 words

Contracts forming - Case Study Example X agrees to sell a particular horse to Y on expiry of 8 days.The horse was delivered on the trail for 8 days.However the particular horse died on the third day without any fault of either seller or buyer.The agreement becomes void . X agrees to sell 10 tonnes of potatoes to Y.X sowed sufficient land to grow morethan 10 potatoes.But any fault of X a disease attacked the crop and only about 8 tonnes of potatoes could be given. The agreement becomes void. In this case, the contracted good ie 5 cans of paint is already perished before it is passed to Mr.Brennen without the fault of either parties.So this case falls under sec 11 of SGA.Hence Mr.Brennen can not seek damages from Arkwreight. Sometimes it may happen that the employer or superior will be responsible for the acts of their subordinates or in broader sense the responsibility of the third party that had the right,abilityor duty to control the activates of the violator.ie, employers are vicariously liable for negligent acts of their employees in the course of the employment.But it is to be remembered that for an act to be considered within the course of the employm... Howell vs Coupland** X agrees to sell 10 tonnes of potatoes to Y.X sowed sufficient land to grow morethan 10 potatoes.But any fault of X a disease attacked the crop and only about 8 tonnes of potatoes could be given. The agreement becomes void.In this case, the contracted good ie 5 cans of paint is already perished before it is passed to Mr.Brennen without the fault of either parties.So this case falls under sec 11 of SGA.Hence Mr.Brennen can not seek damages from Arkwreight. B. whether Freda is entittiled to get damagesBefore proceeding to discuss whether Arkwreight is liable to pay off the damages to Freda, we will explore the concept of 'vicarious liability','negligence', and 'duty of care' under Tort Law. Sometimes it may happen that the employer or superior will be responsible for the acts of their subordinates or in broader sense the responsibility of the third party that had the right,abilityor duty to control the activates of the violator.ie, employers are vicariously liable for negligent acts of their employees in the course of the employment.But it is to be *Eplick vs Barness 15.11,Buisiness Law,Tulsian,P,C ** Howell vs Coupland 15.12,BuisinessLaw,Tulsian P.C -3- remembered that for an act to be considered within the course of the employment ,it must either be authorized or be so connected with an authorized act and that it can be considered a mode,of performing it.*** Whenever we discusss the vicarious liability of an

Manufacturing Overhead Assignment Example | Topics and Well Written Essays - 500 words

Manufacturing Overhead - Assignment Example They are used to apply overhead cost throughout the production period. The main reasons why a company would develop predetermined overhead rates would be that; the manager would like to know the accounting system’s valuation of completed jobs before the end of the accounting period. Predetermined overhead rates simplify the organizations record keeping by just simple circulations. Even though an increase in overhead rates leads to lower profits, the introduction of automated QA system replaces the QC inspectors which represent the direct labor. Overhead increases and the direct labor decreases. This leads to an increase in the predetermined overhead rate mainly if it is based on direct labor. Activity Based Costing (ABC) is a powerful decision making tool which is generally used for understanding products, customer costs and profitability based production process. ABC was started in the year 1980s due to the increasing relevance of the traditional cost accounting method. This methodology of ABC if deployed in Borealis Company it will enable the manager to identify the organizations activity with resources to all products and services according to their actual consumption. It assigns more indirect costs to direct costs compared to the convectional costing methods. Borealis organization will have the benefit of more accurate decision making techniques. The manager will be able to decisively estimate the cost elements of all the organization’s products and services and eliminating those products and services that are less profitable and lower the price of those products that are overpriced. Good production strategies can easily evaluated in calculations. The use of t he QC system in the organization can easily be analyzed and the manager will have a strong base on deciding if QC system was the right idea in the production process compared to the 10 QC inspectors. The company will not

Global Warming speech by Marcus Gibson Essay Example | Topics and Well Written Essays - 500 words

Global Warming speech by Marcus Gibson - Essay Example The speech has been delivered where it tends to be more convenient to pass the message and the audience is encouraging.Furthermore, it encourages everyone to be walking shorter distances rather than using vehicles which pollute the environment. The speech has not ignored the negative challenges but has acknowledged all the aspects. It has tried to lead the audience in understanding the speech being delivered. Compelling the audience in practicing the safety measures against preventing global warming has been emphasized. This is by encouraging them to do the very simple thing like walking for short distances rather than using their vehicles. Furthermore, the speech is more obliged and focuses on achieving the best from the audience. On delivering the speech, the person engaged the audience by using eye contact and movements. This is with the fact that they the audience may provide visual support and encouragement during the delivery of the speech as they are considered to be the focal point. In addition, the speech on Global warming has been delivered in the manner that at that time every person has been willing to fight and prevent it. The writer focused on using rhetoric questions in delivering the speech. For instance, â€Å"If we don’t prevent global warming by ourselves, who will?†This made the audience to be livelier and contribute by providing good listening skills. Moreover, the speech being delivered focused on the key issues making it be precise thus delivering the intended message to the audience. The persuasive attempt in delivering the speech was more effective.

Death of Stalin and Soviet Succession Essay Example | Topics and Well Written Essays - 750 words

Death of Stalin and Soviet Succession - Essay Example Malenkov emphasized on consumer goods production that saw the reduction of the tax payments by the peasants as well as the collective farm policy. Nikita thought also of an agricultural policy and this led him to develop the virgin lands. Nikita forged alliances with other parties to strengthen his position and he forced Malenkov to resign since he was party less. Nikita achieved as the successor of Stalin where he revived the party apparatus and reasserted control over the military, state security, and the state ministers. Kim Donggil account is that the Soviets took way North Korean properties such as food and factories left by the Japanese and the issue led to the Korean War. According to the author, Stalin did not like the presence of China or America in Korea since he had interests in the country. Stalin approved Kim II Sung attack on the Republic of Korea to guarantee Soviet political and economic interests in Korea while avoiding a direct clash with America in the region. Stalin actions were to advance Soviet interests in the sphere of influence to demand postwar strategic plan while avoiding the precipitation of Third World War. Stalin abandoned the pursuit of cooperation while he acted to tighten Soviet control in Eastern Europe. Shen Zhihua declares that Moscow need to know the American military apparatus, weapon stockpiles, troop dispositions, and atomic armaments. Moscow dispatched a Soviet doctor to spy on Mao Tse-tung while treating the Chinese red boss.2 The Soviet planned to collaborate with Korean once they realized that American troops had under strength and poor equipments in the country. Moscow assumed that United States had no chance of sending reinforcements in Korea. To guide a Soviet-Korean operation, Moscow dispatched 10,000 Russian officers and military supplies at Manchuria so that they can observe United States tactics to enable them plan on the enemy combative

Two questions related to Public Budget and Finance Essay

Two questions related to Public Budget and Finance - Essay Example Public budgeting is targeted towards the wellness of citizens. A little wrong prioritization, misallocation of resources, and financial negligence in this process can pose certain challenges for the government regarding implementation of public wellness programs and other public policies. Public budgeting holds a critical place in decision making processes because it is directly associated with the well-being of citizens. It is one of the main responsibilities of any government to allocate resources among competing public sector needs in such a way that none of the sectors faces shortage of funds in any particular stage. Public budgeting includes analysis of the needs of all public sectors and allocation of financial resources in accordance with the analysis report. It is obvious that if one program is overfunded, some other public service program will definitely bear the costs. It is the job the government to decide which sector should be given more space in the public budget and wh ich sector should be at stake. Given the nature of the public budgeting process, governments usually encounter difficulty in making decisions regarding starting of new programs and eliminating existing programs. They have to decide on these issue based on financial analysis of the current economic position of the country. In America, it is the responsibility of executives, legislators, as well as judiciary to maintain a check and balance on the public budgeting process. In the Federal government system, the congress enacts the budgets, whereas the president is held responsible for providing the guidelines for the preparation and submission of the budget. Public budgeting provides government officials the information about current financial position of the economy by detailing the capital in hand, as well as predicted future expenditures related to current and ongoing business processes. Proper financial analysis also helps governments cut off the extra costs and utilize the availabl e capital for other public service activities. Governments need to plan business and public wellness activities according to their financial budgets. If a government does not pay attention towards managing financial activities, problems can occur which may delay the planned activities (Lynch, 1991). Therefore, from public budgeting perspective, it is imperative to develop a perfect budget plan that should help the government in achieving the desired goals and objectives while maintaining the financial equilibrium. Having discussed the public budgeting system in detail, let us also talk about information, justification, and examination that play an important role in the development of a public budget. Budgeting is primarily based on information. Budgeting systems are all about gathering reliable and accurate information of both technical and political nature and using that information in making resource allocation decisions. Justification refers to process of deciding whether a publi c service program should be funded or not based on proper justifications. Examination, on the other hand, is all about analyzing the way organization’s resources have been used in the past and developing a course of action for future programs. Answer No. 2 Budget Process As Morgan (2006) states, â€Å"the success of a business depends on the capital budgeting decisions taken by the management† (p. 1). Budgets are prepared to set and accomplish organizational goals and objectives. These budgets help the organizations in preparing a

How Do Groups React to Unexpected Threats Crisis Management in Research Paper

How Do Groups React to Unexpected Threats Crisis Management in Organizational Teams - Research Paper Example Contextually, when assessing the current scenario of the global business world, particularly due to the continuous globalization effects and the consequent alterations taking place in the socio-economic conditions, managing such obstacle have emerged as one of the most significant concerns of contemporary business organizations. A crisis management is thus essentially required to be devised with the intention of minimizing the impacts of unpredictable occurrences which may seriously hamper the performances of an organization either in its short-run or in its long-run performances2. In this regard, various literature studies have been conducted which emphasized on addressing the various dimensions of crisis management. However, in the article titled as ‘How do Groups React to Unexpected Threats? Crisis Management in Organizational Teams’, the authors Jin Nam Choi, Sun Young Sung, and Myung Un Kim proclaimed that comprehensive researches are available in limited numbers wh ich were focused on learning the behavior of organizational teams when responding to crisis situations and crisis management strategies. Correspondingly, in this article, qualitative as well as quantitative methods have been used with the intention to satisfy the literature gap existing in relation to the study of organizational team responses to crisis management3. The paper will intend to discuss the concepts which can be acquired from the article further describing the applicability of such findings in the organizational level crisis management practices. Moreover, references will also be considered from the book named ‘Organization Theory & Design’ written by Richard L. Daft when assessing the article. The Concepts Acquired from the Article The article depicts that organizational teams are commonly observed to behave as dependent on the persisting ‘interdependent relationships’ within the work culture being subjected to their external activities when im plementing crisis management strategies. The findings of this article also reveal that environment of an organization is complex as well as uncertain which results in many crises situations. It has been fundamentally due to these reasons that crises within organizational teams are observed to be rising immensely since the past few years. In this regard, management of an organization is required to effectively forecast the time as well as the procedure through which the crisis event is most likely to occur. In most instances, organizational teams focus on determining the reasons and likewise sort out the type of crises being witnessed or probable to be witnessed in order to initiate better effective crisis management strategies. The article also stated that irrespective of such practices apparent in the organizational teams of the corporate sector, only insignificant number of studies were conducted in order to sort the various types of crises witnessed by contemporary businesses and the strategies which are devised as well as implemented accordingly3. Furthermore, the article also aims at demonstrating the importance of organizational teams’ performances at times of uncertain situations. In this respect, organizational teams performing in groups are observed to

Data Acquisition and 3D Modelling Essay Example | Topics and Well Written Essays - 1500 words

Data Acquisition and 3D Modelling - Essay Example The triangulation method is used to infer the surface and their 3D nature in this method. It is known as stereoscopy because it uses two cameras. This is a computationally complex task but now a days it is carried out very successfully with the most modern and sophisticated equipments. This technique is good for apparent physical object reconstruction. The active form of stereoscopic methods use strong source of light to acquire 3D data of a physical object. Laser light source are used typically. It can only be employed for industrial usage with a provision of controlled environment. 3D or three dimensional modeling refers to the making of a real world object by making use of the actual geographical coordinates of the model. 3D modeling usually refers to the execution of 3D computer graphics by using 3D software. This specialized software functions by creating a set of points in 3Dimensional space. These points are connected together by various geometric shapes. These shapes may merely be a line, a dot, a triangle or a curved surface. There are four important methods upon which 3Dimensional models are created. Polygonal modeling. Three Dimensional models are often created as polygonal models that are textured. In Polygonal Modeling a 3D model is created by connected the points in a 3D space with a line segment. These dots or points are generally referred to as vertices when talked about with reference to space. An avid benefit of this modeling technique is that it can be structured and adapted very conveniently by a computer system. This is owing to the fact that Polygonal models are very flexible. A slight disadvantage that is associated with Polygonal modeling is that it cannot be sued to perfectly structure curves. Primitive modeling. By far, the simplest method of modeling a 3D object is 3D Modeling. This method makes use of pre-defined mathematical/geometric shapes such as cylinder, sphere, cube, cone etc. Using these basic geometrical

The Cover-up Most Important Facts Case Study Example | Topics and Well Written Essays - 1000 words - 24

The Cover-up Most Important Facts - Case Study Example As that paper outlines, following the formal procedure for purchase of equipments whose costs are more than $ 50000 could have taken time and deprived the department of the short term returns and also the advantage of low cost of the equipment. Failure to ensure technical support however undermines the potential benefits. Another important fact to the case is Colin’s failure to disclose the decision and action that Jeff and he took and this identifies an ethical dilemma. Rose has been supportive to Colin and is good at offering advice. He is also Colin’s senior and Colin fears that possible disclosure would lead to his sacking even before arrival of corporate representatives. Continued concealment of their decision however means that he continues hiding costs until the corporate department knows about the issue. Another important fact to the case is Colin’s reaction to other people. He demonstrates harshness on his child and his wife complains of his over-commitment to work. Other people such as workmates could also be victims of Colin’s hyperactivity and this is an ethical issue as he could be subjecting people to unnecessary psychological harm . The reporte stresses that "in the situation, I would approach Rose and discuss the situation with him, expressing my sincere remorse. I would explain to him reasons for my failure to disclose cost of acquisition and expenses on the machine, contrary to reporting standards by IFRS 7 and identify morality of my action. According to utilitarian ethics, an act is only immoral if it leads to greater harm to a greater percentage of involved stakeholders and even though the purchased equipment has not been used in the organization, its use could benefit all involved stakeholders to identify morality of the decision."

Tools That Monitor Truck Drivers Essay Example for Free

Tools That Monitor Truck Drivers Essay How to Monitor Truck Drivers Trucks and drivers represent a considerable cost for firms, therefore, a firm should use tools to monitor the behavior of its truck driver to ensure that 1- Drivers are following regulations to minimize risks and cost. 2- Reduces or eliminates fatigue-related injuries and fatalities. 3- Reduces accidents and equipment damage. Copilot A low cost driver drowsy driver monitor, Copilot, is one of such tools mentioned early. The Copilot consists of a digital camera integrated with a low-cost digital signal processor (DSP). The Copilot is a functionally enhanced version of a previous monitor that has been successfully used in a variety of research projects in simulators and in over-the-road vehicles (). The Copilot measures slow eyelid closures as represented by PERCLOS (Percent Eyelid Closure). PERCLOS is defined as the proportion of time that a subjects eyes are closed over a specified period. PERCLOS has been separately validated in two independent laboratories as an accurate predictor of performance degradation in sleep- deprived subjects. The current driver interface is based on recent experimental results that drowsiness feedback can reduce drowsiness and improve driver performance for sleep deprived truck drivers operating a truck simulator. DSS System ÂÆ'The DSS system works most of the time for most operators ÂÆ' Provides â€Å"virtual† driving buddy for the operator ÂÆ' Can provide site supervision near real-time notice of potential fatigued operators ÂÆ'Highly effective if used with supervisor intervention procedure ÂÆ'The communications plan about the technology and how it will be used is critical ÂÆ' Complete management support and ownership of the process (from the mine manager to front-line supervisor) ÂÆ' Consequences are clearly defined; do what you say you are going to do ÂÆ' Listen to complaints and fix issues/problems early ÂÆ' Site champions required Accelerometers and pressure transducers, mounted in suspension components, can be used to monitor the ride of haulage trucks. Presently, it is difficult to tell what caused a jolt to the truck using either pressure or acceleration data alone. When information from a global positioning system (GPS) is recorded at the same time as shock pressures or acceleration data, the exact location of an event can be determined. Mine management can then determine what caused the jolt to the truck. † NIOSH (National Institute for Occupational Safety and Health) is investigating how the work environment of haulage truck drivers can be improved. The US Mine Safety and Health Administration (MSHA) notes that, between 1986 and 1995, 60% of the back injuries were to haulage truck drivers in metal/non-metal surface mining. Personnel from Phelps Dodge suggested that combining acceleration data with information obtained from a GPS could generate results with a variety of uses. Therefore, researchers at the Spokane Research Laboratory (SRL) began investigating how to tie acceleration and GPS data together. It was originally thought that this tool would be used primarily for road and truck maintenance. However, as research progressed, it became apparent that it would also be useful in providing feedback about equipment operations and identifying unusual causes of jolting. A data collection system that ties acceleration and GPS location data has been successfully demonstrated at a cooperating mine. A variety of applications are possible. Using plotting software, the person reviewing the data produced can see the acceleration history of the truck, much like an infrared camera can display the thermal signature of a moving object. Sophisticated hardware and software monitors very low-level accelerations and increases functionality. Severe jolts can be monitored by using inexpensive hardware and software. GPS-based location intelligence technology deliver exception control and visibility over entire truck GPS fleet, eliminating out of route miles, reducing fuel consumption, automating compliance and improving your bottom line. These truck GPS combined capabilities resolve a rogue’s gallery of fleetwide problems: excessive fuel costs, unnecessary timecard disputes, error-prone manual HOS reporting, and inefficient fuel tax accounting and compliance paperwork. GPS users report an average 15% to 30% lower fuel consumption, 15% less overtime, 12% less unauthorized vehicle use and 12% higher productivity. Driver monitoring tool detects driver workload and stress levels It’s a Tool which monitors driver’s state with camera and seat sensor and alarms if the driver becomes too distracted. Key benefits: Operator vigilance – supervise the machine operator sleepiness and distraction level Traffic safety – advice a driver to adapt his/her driving style to avoid safety risks Green driving – assist a driver to save fuel and reduce carbon dioxide emissions

Letter to a friend regarding interesting experience in Management Class Essay Example for Free

Letter to a friend regarding interesting experience in Management Class Essay Hope all is well at your end. It has been a long time since I last heard from you. I guess you have a busy and hectic university schedule like mine which does not allow you much time apart from your course work. I don’t blame you at all because I know what a roller coaster ride this business studies really is. I am on my summer vacations now so I finally got some time to correspond with you. I would like to update you with my experience so far with my courses. I would specially like to brief you on my enthralling and interesting experience in my Management class. Business studies have an array of different courses to offer. All these courses have their application in real life, if not fully, then at least to some extent. The most common term which is associated with business people is ‘managers’ which brings us to the most basic and necessary course of Management. Management is the basic requirement of any organization and is the foundation of running a business. Without it business would be nil and there would be total chaos and catastrophe. Management has tons of practical application and offers concepts which have vast dimensions and scope. This course has been the most interesting and enthralling learning experience so far in my studies. Of course I can not give you account of the entire course but I would like to mention one very exciting and challenging activity which was conducted in the management class. This activity was regarding teamwork. You must also have learnt a lot in your engineering studies how there are different teams of engineers that take up huge scale projects. Same goes here in our business studies as well. There are various different kinds of teams such as self managed teams, cross functional teams, special purpose teams and so on. The activity which we did was regarding the most famous kind of team; problem solving team. As you must have got the idea from the name, problem solving teams or also famously known as task forces are teams that are formed especially for a problem to be solved which can not be catered to and solved by the existing organizational structure. This team brings in members varying according to the nature of the problem from different departments of the organization. This shows that problem solving teams are cross functional. (Reference for Business, 2010) The activity was conducted in such a manner that our Management course instructor first explained to us all the different types of teams which involved problem solving team as well. Then to demonstrate how the problem solving team really works in the real world he divided our class into different groups. Each group comprised of 8 members each and each group was handed a business related problem which needed to be solved. We were given a time frame of 50 minutes in which we had to come up with a plan of action to solve the problem and then we were required to present it. This was a really challenging and exciting activity. The problem which was handed to my group was that we were required to suppose a business organization that dealt in supplying of different beverages in 48 out of 50 states of U.S.   There were complaints from three major states which were Arizona, Kansas and Colorado. The major complaints were of similar nature that the supply of the beverages was not on schedule, the stock that reached to retailers was not in good condition and that the beverages supplied were not in accordance with the demand of the people. We were required to discover the reasons that why were these problems occurring in only 3 of the 48 states and what erroneous actions were responsible for these three major complaints. We approached this problem in a very professional way. We first decided upon who will lead the group and fortunately the group members general consensus was for me as a team leader. As a team leader I was the one who had to approve the final plan of action with the input suggestions and research of the different members. We decided upon that our team had members from various departments of Finance, Marketing, Sales, Research and Development and Distribution Management. We formulated our problem solving report in such a manner that first we gave a brief introduction of the problems. Then we assumed different logical reasons which could have been behind these complaints. The reasons and findings that we listed in our report were that our suppliers were categorized into 16 different teams. Each team was given 3 states for which they were responsible of supplying the beverage. One particular team was given the states of Arizona, Kansas and Colorado as they are geographically situated close to each other. As the complaints were regarding these three states hence we found that the supplier team was performing some erroneous actions due to which these complaints arose. On further imaginary research we found out the findings for each of the complaints. First we found that this team was complaint about in past as well by number of retailers regarding their lethargic attitude and poor display of punctuality. So it was found out that the team comprised of members who were irresponsible and did not meet the time restrictions of the schedule which resulted in late supply of the stock of beverages. Second complaint was due to the same reason as first. The reckless attitude of the particular team showed that they mishandled the stocks. Beverages are objects held in fragile coverings and bottles and need to be handled with care which this particular team did not display. The third complain was that of the supply not in accordance with the demand which again was due to the poor performance and reckless and untrained staff of this team. They did not record and process the orders properly which resulted in the wrong supply frequently that bothered numerous retailers. So after we had our findings we were now in position to develop a plan of action based on these findings. The plan of action was formed with collaboration with the different departments of the organization. The action decided upon to be taken was that this particular team was to be fired. Other teams would be also appraised on performance to see whether they were a source of complaints in their states or not and whether they are up to the mark or not. All those members that won’t be up to the mark would either be trained or fired. The empty vacancies would be filled by renewed hiring of the staff which would take special care that highly trained and responsible staff is hired. For the entire plan of action to carry out special assistance would be required from Human Resource Department. This concluded our entire report for the solution of problem. We then presented the whole scenario, our findings and proposed solution in front of the entire class. As Group leader I took the responsibility of presenting. It was really good experience to present in front of the entire class. The teacher appreciated our approach to the problem and gave us a few helpful additional suggestions which would give edge to our report. The class also applauded our presentation and our presentation was ranked the best in all the presentations.   All this was due to combined team effort. This was the experience I wanted to share with you. It was not just a moment of pride for me because of the best presentation, but the activity itself was so exciting and fruitful to provide us with concepts that I could not resist but share with you. I am sure you have experienced such exciting activities at your university as well. I am really looking forward to hear from you your eventful time at university. I hope you are having a good time and enjoying the studies because I think you can not learn until you enjoy you studies. Hope to hear from you very soon. I am looking forward to your reply and account of the activities at university. Hope to see you soon. Take care. Reference: Reference for Business. (2010). Teams and Team work. Retrieved May 15, 2010, from,

The Effects of Early Childhood Intervention

The Effects of Early Childhood Intervention When children and young peoples development is monitored and assessed, it enables practitioners and professionals to notice when children and young people are not progressing as expected. Therefore, if necessary checks can be made to see why children are not developing as expected may be due to impairment. When practitioners and professionals intervene in early years of the children, they will able to get appropriate support they need and their development and their welfare is promoted. Children and young peoples overall outcomes will be promoted significantly when professionals carry out early intervention. There are several methods of monitoring childrens development explained below:- Assessments frameworks Practitioners are required to carry out on going assessments through observations on a diary basis as its integral part of development and learning. Any learning and development needs of children and young people must be addressed by the practitioners with the parent/ carer and relevant professionals. Parents/ carers should be updated regularly with their childrens progress and development. Progress check at two: Practitioners should carry out a progress check when the child is aged between two and three. It should be carried out in the setting where the children spend more time and discuss how childrens learning is supported using the summary of development at home. It is a written summary of the childs development in the prime areas. The practitioner must discuss with the parents and / carers on how to support childrens learning at home using the summary of development. It must reflect on going, regular observation of childrens development. The progress check at two enables practitioners and any other professionals to identify development needs early on in the childs life in order he/she gets the additional support needed. Assessment at the end of the EYFS the Early Years Foundation Stage Profile (EYFSP). EYFSP must be completed for each child in the final term when he/she turns five years old and should be before the 30th of June in that term. School must share profile results with the parents / carers and relevant professionals. The profile provides details of the childs abilities and understanding, knowledge, their progress against expected levels and how ready they are for year 1. Observations. In settings, practitioners watch children play and watch how they are behaving. Some observations do not need the practitioner to interact with the children while in others it may be more appropriate for the practitioner to be involved in order to support learning and development. Observations play a very important part in assessing the childrens development. When practitioners carry out observations, they are able to get information about the childs development, interests and their interactions with friends and adults as well their level of concentrations. Standard measurements Different professionals use various standardized measurements to monitor and assess the childrens development. Growth / healthy assessments. These are used to measure and assess the childrens height, weight and head circumference. Auditory assessments. These assessments are used to monitor and assess the childrens levels of response. Reasoning assessments. These assessments are used to monitor and assess the childrens reasoning and they are carried out by educational psychologists. Cognitive aptitude assessments. These assessments are used to monitor and assess the childrens intelligence and they are widely carried out in schools. All the above tests help professionals to see how a child is performing compared to the large group/ population of other children in the same age group. Information from parents/ carers, colleagues and others. Practitioners should collect as much information as possible from parents/ carers when monitoring and assessing childrens development as the parents/ carers spend more time and are more attune with their children. They see the child in a variety of different situations hence have a lot to contribute and they are aware of their learning and behaviour outside the setting. They always have a different perspective. It is very important to also involve the child whenever possible. Although key workers are the ones mainly responsible to monitor and assess their key children, all practitioners working with them should but consulted as they may have different in put towards the childrens development. CYP 3.1: 3.2 EXPLAIN THE REASONS WHY CHILDREN AND YOUNG PEOPLES DEVELOPMENT MAY NOT FOLLOW THE EXPECTED PATTERN. Children encounter issues in their lives that have a positive or negative influence on their life and hinder them from following the expected pattern of development. As practitioners, we have the duty of care towards the children and young people to ensure that we improve their life chances by following the Every Child Matter outcomes, which are be healthy, stay safe, enjoy and achieve, make a positive contribution and achieve economic well-being. Physical factors The childrens/ young peoples genetics affects their development, which includes their physical growth and physical strength. Sometimes professionals may be unable to identify why a child is not following the usual development pattern even after thorough investigations on the influences of development. This may possibly be to the fact that it in the genetic makeup of the child to have a slow start or delayed learning. The social, economic and cultural factors Personal choice Families may decide to live in a different way example travelling families. The children/ young peoples education may be affected if their families travel a lot and they may not settle in. This may stop children from following their expected development pattern. Some families bring up their children differently and some bring up boys differently from girls and this can affect the childrens development. Poverty Families live in poverty mostly due to unemployment and low income. Due to lack of money, families may fail to provide enough food to eat, clothes to wears, educational resources outside school and heat for winter for their children, which may affect their health and that of the parent. This might hinder the children/ young people to reach their full potential Housing and Community Children and young peoples development is greatly affected negatively if they live in poor housing conditions like living in a damp condition may cause health problems to the children that may affect their learning. Children and young people living in neighbourhood with anti-social behaviour may be affected negatively as they may be isolated or they may decide to join in and their development will be affected. Poor parental supervision/ neglect Children need guidance to learn how to behave well. If they do not get the guidance from their parent, they will misbehave at school because they do not understand the boundaries. Lack of boundaries may result in the children and young people being involved in crime and anti-social behaviour. Educational Environment If the setting does not reach the statutory requirement, this will affect the children and young peoples development and they will not achieve their full potential therefore they might be un able to follow the expected development pattern. Health status and Disability Children and young people with existing health condition or with disability may find it hard to fit in and if they are discriminated against, this will have a negative impact on their lives. Learning needs. Children and young people with learning difficulties and those with specific learning needs may not follow the expected development pattern as they may need a range of additional support with their learning and development, for example with writing , reading or maths. Children with Dyslexia they need support with their learning and development. Bereavement and loss Losing a loved one or pet can have a great impact on emotional and physical health. Children/ young people may find it hard to cope with the grief and this may affect their well-being. Religious beliefs and customs Children may be excluded from setting to attend specific settings due to their religious beliefs and customs therefore the children may miss out on some activities and this might have a negative impact on their live. Ethnic beliefs Children might feel isolated and discriminated against due to their ethnic belief and this will have a negative impact on their lives. Communication skills. Children and young people who have trouble with their communication, their learning and development will be impacted on and this leads to the children not following their expected development pattern. Communication development is linked closely to social, emotional and behaviour and intellectual/cognitive development. 3.3 EXPLANATION OF HOW DISABILITY MAY AFFECT DEVELOPMENT Practitioner should have a good knowledge of particular impairments and understand that the same impairment can affect each child differently. Therefore, practitioners must understand the children they are working with, how the impairment is affecting them in order to meet their needs appropriately. Practitioners should look for ways of increasing learning and development opportunities for children with disabilities. Social model of disability When society is not set up to meet the needs of people experiencing impairment, this implies that impairments give rise to disability. The society disables them, rather than enabling them (Walker 2011 p.285). There is consideration in the social model of disability that people with disabilities have rights and choices and the change has to be made by the society. Children with learning difficulties and impairment that affect their social and emotional development may find it had to interact with others and they will be unable to make friends and positive relationships. Society should change to give the children with disability an opportunity to participate in society and ensure that it meets the children and young peoples needs so as to achieve positive outcome. Medical model of disability In this model of disability people without a disability, they see the impairment of disabled people as a problem that needs solved or cured whereas some impairments have no cure. Medical model limits the opportunities for children and young people and this impact negatively on their learning and development. The children with long term medical conditions or physical disabilities may not achieve their full potential as they may miss educational opportunities due to their health, having to stay in hospitals and attending medical appointments. Low expectations When people/ societies have low expectations for children and young people with disability, they will be denied the opportunities they need to achieve their full potential. If children and young people with disability have low expectation of themselves they may not want to get involved and they will feel isolated and unable to fit in. Stereotyping. Children with disabilities may develop low self-confidence and self-esteem due to the stereotyping, discrimination and if the family members see them as a burden or have negative attitudes due to their lack of ability to cope with their disability. Cultural differences Children and young people may miss out on the chance to learn, play and work due to discrimination because of their disability as well as their background, hence unable to achieve a positive outcome. People from different cultures should be more understanding, accepting and encouraging to children and young people with disabilities. Due to lack of funds and resources, can hinder the children with disability having opportunities to experiences activities and achieve their full potential as meeting the needs of a child with disability can be very expensive and funded services vary from one local area to another. The benefits of positive attitudes to disability. Positive attitudes to disability helps children with disability develop a positive attitude towards themselves and they will have high expectations for their life. The children and young people will have increased self-esteem and self-confidence, gain their independence and have a purpose in life. They will be able to achieve a positive outcome with their learning and development. Positive attitude to disability will help children/young people with disability be more resilience and handle the negative attitudes towards them from others like discrimination and stereotyping. 3.4 AN EXPLANATION OF HOW DIFFERENT TYPES OF INTERVENATIONS CAN PROMOTE POSITIVE OUTCOMES FOR CHILDREN AND YOUNG PEOPLE WHERE DEVELOPMENT IS NOT FOLLOWING THE EXPECTED PATTERN A number of professional agencies may become involved when children are identified as not following the expected developmental pattern. The professionals will all work together to support children and their families to ensure that children and younger people achieve their full potential. Children and young peoples outcomes can be improved when multi-agency approach is involved and this includes the children and young peoples development. Below are the professionals involved in the interventions with children. Professional/Agency Main area of responsibility Impact Types of intervention Behavioural Support Service (BEST) They work in partnership with provisions within the framework to include everyone. They promote good behaviour and provide support to children and young people, parents and settings. Behaviour impact the childrens and young people achievements. When children have positive behaviour they achieve at school. Recognising and managing their emotions and learn about relations. Improved educational outcome. Training of staff Advice on how to develop and review behaviour policies. Speech and language therapists. They are employed by the local Primary Health Trust. They assess and treat speech, language and communication problem to allow children to communicate to the best of their ability. Children being able to communicate with others. Meeting their individual development needs. Improved language skills. Settling better in settings and will to learn. Improved education outcome. They are referred from the GP or concern from the setting. Therapy Educating parents and staff. Promoting speech and language development through songs and rhymes involving children and parents. Physiotherapists. They help children who have problems as a result of injuries to rehabilitate and increase their movement and coordination, illness or for medical reasons. When the children and young people are rehabilitated. Improved movement. Treatment Range of motion exercise Electrical stimulation Strengthening exercise Soft tissue movement. Psychologists They help and support children with social, emotional problem or learning difficulties. They offer advice and giving counseling to children and parents. Being able to enhance the childs learning and enabling practitioners to be more aware of the social factors affecting childrens learning. Improved education outcome. Counselling Training Health Visitors. They are health professionals who help, support and educate parents on the way of preventing diseases through immunizations, good child nutrition, minor illness and behavior issues. They advice parents on health and child development. They do home visits and sometimes, they can be found in the local medical centre at least once a week. They support parents to ensure that children are protected from illness and they achieve their developmental milestones. Improve education and life outcome for children and young people. Identifying mothers suffering from depression. Reduced post-natal depression. Medical advice Training Home visits Parental training Social workers They are employed by social services. They provide assistance and advice to children, young people and families with health need, housing issues, and poverty. They support young people living care and those facing difficulties of any kind. Keep families together by giving them support. Children from care fulfil their full potential. Families getting the help they need. Crisis intervention Anger management Stress management Relaxation training Mid wives They offer health support to parents expecting a child/ children. Parent has a successful pregnancy and birth. Reduce the number of women smoking during pregnancy. Increased breast feeding. Increased parental confidence. Training Antenatal care. Pre- and post natal care. Birth plans Training Breast feeding training. Play specialist They are employed by the local Primary Health Trust. They make observations and assessments through play with children in hospitals to identify their needs and fears while in hospital. The children get full recover and play freely without any problems. Assessments Introduction of play Voluntary agencies and services These include local and national services like NSPCC. They support and give advice to children, young people and their families experiencing threatening situations. The families feel safe, secure and protected. They have a peace of mind knowing that they can get support and advice if they experience ant threatening behaviour. Training Support and advice Special Educational Needs Coordinator (SENCO). Works in the setting They have the responsibility to organise identification and support for children with special education needs Being able identify that a child has special education needs and the child being able to get the help they need early on in time. Referrals to respective professionals Support Psychiatrist They are doctors trained medically. They specialise in mental health. They diagnose and support children and young people with mental health problems. When the child and young person get all the support and treatment the y need. When they are able to lead a normal life afterwards. Counselling Training Awareness Nurse specialist They give advice and support to children, young people and their families on how to manage chronic conditions. They also measure and assess childrens development. When families are able to handle and manage chronic conditions. When families are able to get help in time if there are any underlining problems with their childrens development. Training Raising awareness Measurements and assessment of children development. Young justice teams. They work with children and young people with anti social behaviour in the community. They work hand in hand with the social workers. When the children and young people get the support they need to be model citizens. Recognising and managing their emotions and learn about relationships. Improved social and emotional skills, attitudes, behaviour and academic performance. Target offending behaviour Thorough assessments of children and young peoples individual needs. Offer structured programmes. Offer programmes that can work that meet the families needs. Additional learning support teams They help children with specific educational needs within early years provisions, schools and out of school. Children get the support and education to achieve their development goals. Improved learning outcomes. Training Awareness Support Assistive technology Children and young peoples development can be supported by using a range of technology. A voice activated computer programme will assist children and young people with delayed fine motor skills with writing. Children and young people with difficulties walking may use the latest wheelchairs so as they are able to achieve their development goal and be more independent. Physiotherapists, speech and language therapists and sensory impairment support professionals have the responsibility to choose the right type of assistive technology for children and young people. http://www.ehow.co.uk/socialworkers (16.02.2013) http://www.physiotherapy.notes.com (16.02.2013) http;//www.surreycc.gov.uk/social-careand health (17.02.2013) http://www.nfer.ac.uk/nfer/publications (17.02.2013). Tassoni, P., Beith, K., Bulman, K., Griffin, S. (2010) Children and Young Peoples Workforce. Early Learning and childcare. Level 3 Diploma. Essex: Heinemann. Walker, M. (2011) Children and Young Peoples Workforce. Early Learning and Childcare. Level 3 Diploma. Cheltenham: Nelson Thornes.

A Comparison of the Magic in The Rocking-Horse Winner and A Very Old Man With Enormous Wings :: Rocking Horse Enormous Wings Essays

A Comparison of the Magic in "The Rocking-Horse Winner" and "A Very Old Man With Enormous Wings"   Ã‚  Ã‚  Ã‚  Ã‚  Magic arises out of the two main characters of D.H. Lawrence's "The Rocking-Horse Winner" and Gabriel Garcia Marquez. Paul, in the first story, pulls out higher forces to help him decide who the winner of the next horse race will be. In the Marquez story, a nameless and elderly angel lands on earth to experience first hand the human behavior he strives to correct. The magic in the air gives these stories a feeling of suspense. They are horrifying, if not in the Stephen King horror genre. These tales encompass an undeniable amount of magic, faith, greed, vindication and misunderstanding.   Ã‚  Ã‚  Ã‚  Ã‚  Pelayo and Elisenda, in the Garcia Marquez yarn, find the soul retriever on his way to take their child to heaven, or so it is thought. The magical angel's identity had to be discovered by a neighbor of the couple because they didn't think that an angel could wind up on their land. Who would think of an angel landing? Meanwhile, Paul doesn't show when he discovers the magical power of the rocking horse he received as a gift one year. He does ride it often as Lawrence describes. The stories are bound by the fact that the magical things they discover are unbelievable at best. They often criticize Paul for his affection for a horse he should have outgrown long ago. No one would believe that the rocking-horse essentially talked to him. Although the characters in "A Very Old Man with Enormous Wings" believe that an angel is in their presence, they have no idea what to do with him. No one had ever dealt with a spirit on this level before.   Ã‚  Ã‚  Ã‚  Ã‚  As he rocked back and forth on his rocking horse, Paul had faith in finding the winner of the next horse race. For some reason they could not explain, Paul's uncle and Bassett had faith in him to pick it. They kept making money on the young boy with faith. The boy, whose parents had no luck, also had the faith that they did not have. Sadly, his faith killed him. He wanted so much to rid the house of the voices he heard that he drove himself to death from the intense pressure he placed upon himself. When he died, he killed the voices as the spiritual world claimed the only member of the family with luck.   Ã‚  Ã‚  Ã‚  Ã‚  "A Very Old Man with Enormous Wings" shows that the people in this small fan can have some level of faith without directly showing it.

Business Essay -- Sociology, Culture, Melting Pot

In the past, the world was parts of continents and continents parts of countries which represent their culture separately. In addition, the communication between different cultures and communities slightly difficult or need so much time. Nowadays, we could imagine something different from the past which we hear terms of new world features like melting pot, globalization, culture, and global perspective. Al-Balabki (1995:570) concludes that, melting pot is a place where immigrants of different ethnicities, cultures or countries come to live together with variety of ideas and races. According to J. Jary (1991) that,†culture is defined as the unique ideas, customs, skills, arts, behavior, appearances and communication of a group of people†. To quote Wikipedia (n.d), â€Å"globalization refers to increasing global connectivity, integration and interdependence in the economic, social, technological, cultural, political and ecological spheres†. Moreover, there are many examples for global culture which make all cultures around the world effective. However, I am going to write about internet, English as a global language and business in this essay. Internet is the largest sources of information in these days. It can provide a wide variety of information which anyone needs it. Internet revolution has made a huge change in many aspects in our lives. It becomes a method to know more and more about many different things. It helps the whole world to be small village. Now anyone could speak with another person in minutes or less than that. Moreover, you can communicate with people from different country, culture, lifestyle and geography. It is really amazing system which enriches the global development in most fields. Co... ...Birkat Almouz store. However, business ethics and management structure dive me real experience to deal with managers or customers to reach work performance and customer satisfaction in any work place around the world. In conclusion, globalization has its effects in different fields business, internet, and English language in the whole world. They are important examples which have influential causes and reasons. In my opinion, sometimes they are being positive and sometime being negative. For instance, some examples of global culture being useful just for the first world countries and in the same case being harmful for third world countries. However, globalization solve so much points like wasting time, make the distances between different counties are too small and easier. As a result, every country should modify each globalization example to be fitness.