Sports And Drugs Essays (369 words) - Drug Control Law,

Sports And Drugs "The Sports World Should be Drug Free" This article was derived on the question: Why the sports world should be drug free? Barry McCaffrey's answer to this question is based on a simple assumption that drug usage in sports has a direct impact on children which will ultimately lead to downfall of sports. The essay takes on the belief that all or most kids look up to athletes. And if these athletes do drugs then kids will do drugs. It is directed to the athletes themselves, coaches, and the parents of all children. McCaffrey states that after the death of athlete Len Bias, youth cocaine use suddenly dropped (page 1). It seems that this is a safe assumption because after a death of a famous athlete, people as well as children learn the disastrous effect of drug use. He also believes that when athletes use drugs and are rewarded for their athleticism kids get the misimpression that drugs are not dangerous to their well being, dreams and aspirations (page 1). This essay is compelling and also logical. We as a culture know that children look up to all athletes. They are pictured on cereal boxes, sneaker ads, cartoons, etc.... The author makes the natural assumption that if these athletes use drugs that kids will get the picture that it is alright for them to use them as well. His argument is very convincing especially for a parent. He gives evidence that professional organizations are know getting involved to take a stand against drug usage. McCaffrey states, " Eighteen Major League Baseball teams are showing anti-drug public service announcements in their stadiums at home games. Major league soccer is sending strong anti-drug messages to its young fans. On October 23rd , as part of the Office of Drug Policy's athletic initiative, the first ever "National Coachathon Against Drugs" will see coaches across the nation?from pee wee to the big leagues?starting practices with messages against drugs" (page 2). The only thing about McCaffrey's argument is that he didn't consider the other side's point of view. He must of thought they did not have a relevant case to even consider their view. He did a good job researching and making a firm strong point. Bibliography McCaffrey, Barry R. "The Sports World Should Be Drug Free" St. Petersburg Times. September 9, 1998. p. 12A

Jetblue Ipo Essay Example

Jetblue Ipo Essay Example Jetblue Ipo Paper Jetblue Ipo Paper JetBlue Airlines, a low-fare commercial airline, has planned to go public towards the end of 2001. During the process the firm had restructured their initial price from $22- 24 per share to $26 – 28 per share. Advantages / Disadvantages of the IPO Decision There are considerable advantages with obtaining equity through the IPO process. There are, however, some drawbacks that also need to be taken into consideration. Some of the advantages and disadvantages are: Advantages| Disadvantages| Equity value is established for the firm * Current shareholders can diversify personal portfolios| * SEC requires public disclosure of financial information (transparency) * IPO expenses| * Liquidity of stock increases| * Owner restricted to immediate cash-out| * Easier to raise capital in the future| * Sharing of future earnings with outsiders| | * Legal liability| Exhibit A in the appendix outlines some additional key advantages and disadvantages of going public through the IPO process. IPO Valuation Techniques Deriving a value for an IPO is the critical part of the process. In both fixed price and book building offers some form of initial price must be determined by the investment bank. Key methods are used to determine the value of a company and thus the initial IPO price includes: * Discounting Methods: based on a firms intrinsic value (future cash flows) * Comparable Multiples Method: value based on similar publicly traded companies Using information from the case we perceived the IPO pricing of $24-26 was determined by using the comparable multiples approach. Therefore, we will use the discounted cash flows method to determine an introductory price and evaluate whether it is in-line with the current proposed price. Exhibit B provides a description of each method. Discounted Cash Flow Recommendation It is our recommendation for the firm to set the price range for the IPO at the adjusted rate of $26 to 28. Although more value is achievable through a higher price, the lower range will meet the needs of the firm, maintain interest in the share, and possibly give large returns to the investors right away. Advantages and Disadvantages of Going Public through the IPO Process Advantages The partners can obtain a true value of the shares they possess in the company * Partners can remove their signatures from the lines of credit and thus, are no longer personally liable to the creditors * The overall financial condition of a company is improved as it brings in non-refundable money * A broader capital base gives the company more access to credit whi ch gives the company an option to venture into new business opportunities * Capital raised in an IPO can be used to pay off debt and thus reduce the interest costs and enhance the company’s debt to equity ratio * The value of the stock may see an upward trend thus increasing the initial investor’s financial wealth * When a company goes public, it attracts the attention of the media and financial community thus providing free publicity and helps in creating a better corporate image * By going public and listing on a stock exchange it can directly foster public reputation in general Disadvantages The market is extremely unpredictable and an unsuccessful IPO can result in a great loss of time as well as money for the company * The ownership of the partners is dissolved and they become mere employees who are responsible to the shareholders and Board of Directors * Continuous dealing with shareholders and the press is a time-consuming process * Shareholders judge the perfor mance of the company on the basis of the profits and stock price and may cause managers to overlook the long-term strategic objectives * The company needs to make nation-wide presentations about its performance to the interested shareholders, brokers and the investment bankers * The company’s continued success may bring a lot of close scrutiny by the public * Large amounts of fees and expenses are associated with a public company on a continual basis commissions, advertising costs, securities exchange fees etc. Exhibit B: IPO Valuation Techniques Discounting Methods Theoretically, the price of a share is derived by discounting all future cash flows that accrue to shareholders. These techniques are used throughout industry; however, they do suffer in practical application due to the risk associated with forecasting both revenue and expenses (Draho, 2004). The two most frequently used discounting methods include the discounted free cash flows (DCF) and a residual income model (RIM). * Discounted Free Cash Flows Free cash flows are defined as the cash flows from operations after investment in working capital and any capital expenditures. These cash flows are considered more appropriate than accounting earnings which include non cash items such as depreciation that cannot be used to pay shareholders. Cash flows are used to pay dividends and thus capture true value for the investor. These cash flows are then discounted using a risk adjusted rate. The rate is estimated either by using the capital asset pricing model (CAPM) for a 100% equity company or by calculating the weighted average cost of capital of the firm’s debt and equity (Geddes, 2003). * Residual Income Model The DCF model requires accounting earnings to be converted to cash flows. This is considered inappropriate as accounting values do not take into consideration the time value of money and may be subject to manipulation by way of accounting methods. The RIM is similar to the DCF method in that both methods use a risk adjusted discount rate. The RIM model, however, utilizes the difference between the realized earnings and the expected earnings, where the expected earnings is the cost of equity multiplied by the start of period equity book value (Draho, 2004). Comparable Multiples This is the most common method used by investment banks to value IPO’s. Its fundamental approach is the comparison of ratios of companies that operate in similar businesses that possess the same characteristics of risk, current and future profitability and growth prospects. There are number of ratios that can be used under this method, the most common being: * Price/Earnings multiples * Price/EBIT Market value/Book value * Price/sales The successful application of this method lies in choosing an appropriate comparison company. One method used by practitioners is to select up to 10 company’s operating within the same industry and to use the group’s median multiple to value the issuer. The second and most common method is to select 3-4 companies that are direct competitors within the particular industry to the issuer. The third method is to use multiples of firms that have recently gone public assuming all issuers share common valuation multiples. The comparable multiples method is a popular method to value an IPO due to its simplicity and accuracy. With the use of multiples there is no need to estimate the cost of capital, neither is there a need to depend on forecasted earnings and assumptions of valuation models. The use of multiples is supported by the assumption that relevant ratios capture the markets estimate of risk and growth. References Bruner, R. F. , Eades, K. M. , Schill, M. J. (2010). Case Studies in Finance: Managing for Corporate Value Creation. New York, NY: The McGraw-Hill Companies. Damodaran, Aswath. Damodaran Online: Home Page for Aswath Damodaran. Welcome to Pages at the Stern School of Business, New York University. Web. 1 July 2010. http://pages. stern. nyu. edu/~adamodar/. Draho, J. (2004). â€Å"The IPO Decision: Why and How Companies Go Public†. Cheltenham, UK: Edward Elgar Publishing.

Difference between NIetzche's and Hegel's views on education (bildung) Essay

Difference between NIetzche's and Hegel's views on education (bildung) - Essay Example There is a difference between Hegel’s view that education (Bildung) is for everyone, and that everyone can be educated. Hegel emphasized that Bildung in the Civil Society refers to the education of the conscience to learn how to link the specific and the universal. The author reiterates that the Bildung includes giving credibility to the universal. The author goes further by stating that the Bildung education incorporates the theory that the individual members of society are private persons having their own diverse interests, wants, and needs as their objective. Since the objective goes through mediation passing through the universal, the individuals interpret the objective as the means. The individuals can attain their objective only if they determine their own diverse knowledge, volition, and action in a universal way in order to make themselves connections in the continuum chain. The above quote clearly shows that education, during Hegel’s time and during our present generation, is intertwined with many significant factors. For example, the students study engineering with the hope that they will be landing an engineering job, after graduation. The management students spend lots of time mastering their management concepts with the hope they will become future managers in the work place. In turn, the engineering companies are willing to accept new employees if they have the necessary skills, capabilities, and other relevant experiences needed to ensure the company’s goals are achieved on time and with quality. Hegel explains this process by stating that the uneducated person starts out from a perspective in which the specific interest is the objective and the universal is the means. This is the reverse of the proper relationship, in accordance with the universal is the objective and the specific is the means. Hegel explains that Bildung education is the dynamic relationship between the subjective aspects as well as the objective aspects of CRIC. To develop the subjective aspect, the full capability for holding on to the specific and universal in one firm bind, with thee objective presence of such institutions and objective precedence relations between them already in place. In addition, the subjective sense of CRIC sustains and aids the objective order. This can be explained as follows. The form of universality to where the specific had worked its way up and cultivated [heraufgebildet] itself, the comprehension [verstandigkeit], makes it happen that at the same time the specific [Besonderheit] is metamorphosed to the genuine being for itself of the individuality [Enizelheit]. Likewise, since the specific that universality accepts both the content which fills it and its infinite self-determination, specialty is itself cropping up in ethical life as free subjectivity which has infinite being for itself. The individual reaches universality. The universal reaches its content and infinite self-determination from the inter est as well as actions of the individuals. In short, Hegel’s Bildung education places importance on learning through action activities, as opposed to learning through book reading activities1. Further, Hegel theorizes in his valedictory address, on its graduating 1788 class, that the Turkish State had neglected its major responsibility to educate its citizens. Hegel states that education is a great influence on Turkey’s and any other average state’s government affairs. Bildung is pegged as the foundation of the political body. Manners, the state’s primary responsibility to further the citizen’s education and learning, sciences focus on the societal elements, and the arts2. In addition, there are many loyalists to the

Modern pricing models Essay Example | Topics and Well Written Essays - 500 words

Modern pricing models - Essay Example A geometric Brownian motion (GBM), or an exponential Brownian motion, refers to a stochastic process that runs continuously over time in which case the logarithm of the randomly varying quantity follows a Wiener process, or the Brownian motion with a drift. According to Vose (2008), the Brownian motion is a significant example of the stochastic processes that satisfy a stochastic differential equation (SDE). Most applications of Brownian motion incorporate, in particular, mathematical finance, especially in consideration of the model stock prices, such as is the case with Black-Scholes model. As such, the geometric Brownian motion is a core building block of modern finance. This is particularly in the case of the Black Scholes model whereby the underlying stock price is assumedly in line with the principles and expectations of the GBM dynamics (Vose 2008, p.37). When an investor wants to make an investment in the binary options, the most important element that he or she should account for is the fluctuation in the price that a particular commodity or good is likely to experience over a specific period of the trading process. As such, once an investor is able to track the volatility of the price changes with some degree of accuracy, they get to a better elevated position to determine the right the price of an option at the point when it expires, thereby increasing significantly his or her chances of being in the money at the right time. Therefore, such an investor will be in a better position to collect the highest level of return on his or her investment (Vose 2008, p.115). According to Benth (2004), it is quite fortunate that top economists conducted a great deal of research in the field of Wiener motion, such as Fischer Black and Myron Scholes who came up with the infamous Black-Scholes formula instrumental in predicting the market volatility of a stock. The geometric Brownian motion forms an important element of this formula, and

Events Management_Evaluate the current level of understanding of Essay

Events Management_Evaluate the current level of understanding of Events Impact and Events Stakeholder Management and how it int - Essay Example Conversely, changing circumstances in each of the phases may require the events coordinator to re-visit previously completed duties. Stakeholders The complicated business environment compels event organisers to create relations with numerous stakeholders. These stakeholders each have their own desires, positions, and expectations, and businesses are confronted with stakeholder reputation risk if these requirements and expectations are not adequately addressed. Stakeholders can bring threats as well as opportunities for businesses. For example, if an organisation is well respected, stakeholders may give it more latitude to function. Conversely, a bad or lacklustre reputation can cause stakeholders to pass rules that make it harder for the organisation to carry out basic functions. Knowledge, reflection, and a basic comprehension of the desires of the organisation’s stakeholders and the reputation management procedures will profit any institution, in spite of its size or stature . There is no company that does not have stakeholders. The term ‘stakeholder’ refers to any individual or group that can somehow influence or is influenced by an institution’s actions, behaviour and performance. ... It is such reactions that are important. The positive reaction of consumers is crucial as it allows the institution to be able to depend on the consumers when it requires some financial assistance. The word ‘stakeholder management’ defines the execution and development of organisational strategies, along with practices that take into account the objectives of the institution’s stakeholders. Stakeholder Management also includes discussion, process generation, and relationship formation that occur between a business and its numerous stakeholders. Any of the stakeholders can negatively or positively affect a business’s reputation, and therefore require varied strategies to balance the situation. Research studies in the past have proven that there is much that institutions can do to constructively cater to the needs of stakeholders (McKercher, 2006). The supervision of, and relations with stakeholders require careful attention if a firm wishes to make the most of its chances, while diminishing any existing threats when handling their stakeholders. Research studies have shown that when a business initiates relationships with important stakeholders, it actually saves on future expenses by eliminating litigation costs, boycotts, pressure campaigns, or even lost income as a result of bad relationships. Good relations with workers also increase the probability that they will be contented with the business as well as their jobs (Jones, 2005). This makes them more likely endorse organisational practices while avoiding interferences in company policies. The assessment of relationships includes a two-way communication procedure with the outcome, whether positive or negative, affecting both

Amylase Activity In Germinating Seeds

Amylase Activity In Germinating Seeds Amylase is an enzyme found in the germinating seeds. Imbibition process causes the release of growth plant (gibberelin) which stimulates the synthesis of amylase. Amylase activity is affected by many factors such as temperature, pH, enzyme concentration, substrate concentration, and the presence of any inhibitors or activators.  [1]  Amylase enzyme in the green bean seeds works best at specific range of temperature. The cotyledons store food for the use of embryo in the form of starch. Amylase enzyme breaks down starch into maltose, a chain of two glucose molecules Maltose then breaks down into glucose. Glucose is used for the growth of plumule and radicle. When this process happens, the seeds are said to undergo germination process. The emergence of plumule and radicle indicate that the seeds have germinated. In germinated seeds, the blue colour of the Benedicts solution change to brick-red precipitate indicating the presence of glucose while maintaining the yellowish-brown colo ur of the iodine solution indicating the absence of starch. However, in non-germinated seeds, the yellowish-brown colour of the iodine solution change to blue black indicating the presence of starch while maintaining the blue colour of the Benedicts solution indicating the absence of glucose. AIM : To investigate the amylase activity during seed germination RESEARCH QUESTION: How does amylase activity affect the rate of seed germination? HYPOTHESIS: The higher the amylase activity, the higher the rate of seed germination which is indicated by the higher changes in length of plumule and radicle. Hence, the area of starch agar that represents the absence of starch is bigger and the concentration of brick-red precipitate is lower indicating the presence of small amount glucose. VARIABLES: Units Range Independent Variable Different condition of the seeds Vary the conditions of the green bean seeds by boiling, soaking and drying Dependent Variable Change in length of radicle and plumule Measure the change in length of radicle and plumule by using the ruler cm Table 1 : The independent and dependent variable of the experiment and method to control. Control variables Units Range The temperature of the incubator Set the temperature of the incubator at 25 °C throughout the experiment  °C -10 110 The time taken for each plate to be left in the incubator Left each plate for 1 week The type of seed used Use the same type of seed which is green been seeds for each sterile starch agar plate The number of seed placed in each plate Place 5 green bean seeds in each of the sterile starch agar plate Table 2: The control variables of the experiment and method to control. MATERIALS AND APPARATUS : APPARATUS Apparatus Quantity Test tube 2 Beaker 2 Ruler 1 Microwave oven 1 Marker 1 Razor blade 1 Incubator 1 Pestle and mortar 1 set Table 3: The list of apparatus. MATERIAL Material Quantity Benedicts solution Some Iodine solution Some Disinfectant Some Distilled water 50 ml Green bean seeds 15 Sterile starch agar plate 3 Table 4: The list of material. PROCEDURE : A. PREPARING DIFFERENT CONDITIONS OF GREEN BEAN SEEDS. Soak 5 green bean seeds in distilled water for 24 hours. Heat 5 green bean seeds in the microwave oven at 35 °C for about 30 minutes. Boil 5 green bean seeds. B. INVESTIGATING THE AMYLASE ACTIVITY OF GREEN BEAN SEEDS. Label 3 sterile starch agar plates with A (boiled green bean seeds), B (soaked green bean seeds) and C (dried green bean seeds) Cut each seeds of different conditions into half to split the cotyledon by using the razor blade. Soak the split seeds into disinfectant solution for 10 minutes for sterilization and then rinse twice using the distilled water. Place 5 boiled green bean seeds in plate A, 5 soaked green bean seeds in B and 5 dried green bean seeds in C by using the forceps. Place all the labeled plates in the incubator at temperature of 25 °C for 1 week. After 1 week, retrieve all the plates. Take out the seeds from plate A and cut the radicle and plumule by using the razor blade. Measure and record the length of radicle and plumule by using the ruler. Pour iodine solution into sterile starch agar plate until it covers the whole agar for 3 minutes and observe the size of the area represents the absence of starch. Transfer the seeds including the plumule and radicle into the mortar. Put a spoonful of sand and 10 ml of distilled water into the mortar. Grind the mixture using the pestle until it becomes watery mixture. Pour some of the watery mixture obtained into a test tube and add 2 drops of Benedicts solution to test for the presence of glucose. Note the colour changes and record the data obtained. Record all the measurement and observation in a table. Repeat steps 7-14 for plate B and C. DATA COLLECTION : QUALITATIVE DATA Plate Condition of the seeds Observation A Boiled green bean seeds B Soaked green bean seeds C Dried green beans seeds Table 5: Observation on the change in the colour of iodine solution and Benedicts solution. QUANTITATIVE DATA Plate A (boiled green bean seeds) Plate B (soaked green bean seeds) Plate C (dried green beans seeds) Change in length of the radicle, cm ( ± 0.05) 1 2 3 4 5 6 7 8 9 10 Change in length of the plumule, cm ( ± 0.05) 1 2 3 4 5 6 7 8 9 10 Table 6: The change in length of the radicle and plumule.

Guillain-Barre Syndrome Essay -- Medical Science Scientific Medicine E

Guillain-Barre Syndrome Guillain-Barre Syndrome, or acute inflammatory demyelinating polyneuropathy, is a self-limiting disease characterized by areflexia and acute progressive motor weakness of at least one limb. Other symptoms include motor weakness of the extremities and face, loss or reduction of deep tendon reflexes, decreased sensation throughout the body,ophthalmoplegia, and ataxia. In severe cases respiratory failure and autonomic dysfunction may occur. Respiratory failure results from the demyelination of the phrenic and intercostal nerves. Consequently, the person loses the ability to inhale and exhale. Autonomic dysfunction resulting from the demyelination of the sympathetic and vagus nerves can lead to cardiac arrhythmias, tachycardia, postural hypotension, and hypertension. Analysis of the cerebral spinal fluid (CSF) shows increased protein concentration with few cells. Other tests reveal a decreased nerve conduction velocity resulting from segmental demyelination with mononuclear cell infiltra tion. In 70% of the afflicted individuals, the symptoms of Guillain-Barre Syndrome (GBS) occur within two weeks following infection. Clinical diagnosis is based on the presence of albumino-cytological dissociation in the CSF. Following the onset, motor weakness progressively deteriorates for four weeks and may lead to respiratory failure and cardiac instability. If either respiratory failure or cardiac abnormalities occur, the patient will be placed in the intensive care unit and closely monitored. Eventually the person's condition will cease to deteriorate, and he/she will enter a plateau period of two to four weeks during which little or no change will occur. Following the plateau stage, the patient will gradually rec... ...Guillain Barre syndrome following immunisation with Haemophilusinfluenzae type b conjugate vaccine. Europ. J. Pediatrics, July 1993, 152(7): 613-614. Hartung, H. P. Immune-mediated demyelination. Ann. Neurology, June 1993, 33(6): 563-567. Hund, E. F., Borel, C. O., Cornblath, D. R., Hanley, D. F. & McKhann, G. M. Intensive management and treatment of severe Guillain-Barre syndrome. Crit. Care Medicine, March 1993,21(3): 433-446. Rostami, A. M. Pathogenesis of immune-mediated neuropathies. Pediatrics Res., January 1993, 33(1 Suppl): S90-94. Sharief, M. K., McLean, B. & Thompson, E. J. Elevated serum levels of tumor necrosis factor-alpha in Guillain-Barre syndrome. Ann. Neurology, June 1993, 33(6): 591-596. Willison, H. J. & Kennedy, P. G. Gangliosides and bacterialtoxins in Guillain-Barre syndrome. J. Neuroimmunology, July 1993, 46(1-2): 105-112.