Behavorial Traps

Behavioral Traps There are five behavioral traps. Those five behavioral traps are: time delay, investment, deterioration, ignorance and collective. We fall into some of these traps easily and on a daily bases, while some of us find that they are also easily avoided. The trap that you fall into really only depends on you. I would like to define and give an example of each of the behavioral traps, before I discuss which I think is the easiest to fall for and the easiest to avoid. Time delay is momentary gratification that clashes with long term consequences (short term vs. ong term). An example is finding it hard to diet or exercise regularly (Plous, 1993). The ignorance trap is the negative behavior which are not understood or seen at the outset. An example would be: People, who smoked in the 19th Century, they didn’t realize that smoking led to lung cancer and if the information would have been available, many would never have begun to smoke in the first place (Plous, 1993). T he collective trap involves more than one party. The example for this one is rush hour traffic. Here everyone prefers to drive at the same time, taking their own self interest into play and letting everyone suffer (Plous, 1993). The investment trap occurs when prior expenditures of time, money or other resources lead people to make choices they normally wouldn’t make. An example would be investing money on something to help out the community only to find out at 90% done that another company is doing the same thing but theirs is better, debating on whether to finish the other 10% or not (Plous, 1993). Deterioration trap is similar to the investment trap but the cost and affect occur over time. An example for this trap is a heroin addict. You do it to get that great feeling but then your body becomes tolerant to the drug and you then up the dose to get that same great feeling, and then you’d rather take the drug to avoid withdrawal symptoms. So what started as a pleasurable feeling ends up in a nightmare of dependence (Plous, 1993). Those are the five behavioral traps, I studied and read because to a point they all are easy to fall into, but one that I know I have troubles with and that most people have fall easily to is the time delay trap. How many of us have tried diet after diet and exercise after exercise and end up not sticking to the plan. That’s what the time delay trap does to you. â€Å"Any situation in which short term consequences run counter to long term consequences can turn into a time delay trap† (Plous, 1993). Another example of the time delay trap could be the apples in the Garden of Eden, because the apple is regarded as bait and is the ultimate temptation with its entrapping consequences (Plous, 1993). As you look at the definitions in the earlier paragraph you might think that there really isn’t one that is easily avoided, but I believe that the deterioration is that one. I believe this because this trap takes time to occur/fall into, while with the other traps they seem more likely easier to fall for. The reason deterioration take more time than the others is because it produces behavior that may seem absurd or self-destructive to others whom haven’t seen the situation evolve. (Plous, 1993). Just like the heroin addiction, your body eventually gets use to all the things you are doing and you think you need more because you aren’t getting the same affect. So over time your body takes a beating and starts to be self destructive and so on. For the time delay trap the person wants to exercise and/or diet, but something keeps stopping you. The long term consequences for not exercising and/or dieting could result in health problems and obesity. I just happen to be one of those people. For months I have been planning to exercise more, but I always end up finding an excuse not to and then it only leads to me now being healthy or losing the weight that I have put on in the mean time. The thing that is striking about the time delay trap is that relative is that you end up with small pains and pleasures in the short run, will produce behavior that is devastating maybe even lethal in the long run. (Plous, 1993). Like for example smoking, it’s a short term pleasure but in the long run you can get cancer. We never really think that the things we do/ could be considered as a trap. We just go on day by day either eventually doing something about what we have been putting up with or just deal with the long term consequence. Which traps we find easy to fall for or to avoid really depend on you, we all have different weak points in our mind and bodies. We think about the things that we put into our bodies, but do we really think about the long term effects? References Plous, S. (1993). The Psychology of Judgment and Decision Making. McGraw-Hill: New York, NY.

Public Meeting Paper Essay

The public meeting I went to was at the City Hall chambers building located in downtown El Paso at two civic center plaza drive. It was a regular City Hall Council meeting where voting sessions were conducted. City Council members and mayors of El Paso do these meetings to resolve problems and improve their city through funding, spreading awareness, and implementing laws. City Hall Council meetings are from Monday through Friday 8:00am to 5:00pm. City Hall Council meetings allow and encourage public attendance and participation. The City Hall Council meeting I went to was Tuesday March 15th. It was three hours long, but I attended the first hour of the meeting from 8:30am to 9:30 am. At the beginning of the meeting there was a Spanish interpreter provided for Spanish speaking El Pasoans. There was also a sign language interpreter provided for people with special needs. Then there was a prayer thanking God’s grace for safety and prosperity and mentioning the devastating natural disaster in Japan, and asking God to have mercy on Japan and protect the U.S. from similar disasters. After that people were asked to stand in respect for the Pledge of Allegiance which was read by City Council members. Mayor Ann Morgan Lilly announced Mayor’s proclamations. First guest was Miss Shanaya Fastje Day who is an 11 year old girl. She spoke to kids about bullying and its impact and effect on kids. She discussed ways to prevent or at least reduce the cases of bullying. She also mentioned the ways on how kids should deal with bullying and who to reach to incase of such incidents. Mayors thanked her efforts especially Mayor Beto O’Rouke. Her father spoke about his daughter’s efforts and asked the city of El Paso to assist and help her to make her cause and efforts influential and effective. Mayor Pro Tempore Emma Acosta thanked her and asked to applause her. The second mayor proclamation was Franklin Mountain Poppies Preservation Day. Jody spoke about it and asked people to attend a celebration in the Northeast area of El Paso. The celebration was open to the public and is done every year near the Museum of Archaeology of El Paso. From what I understood it’s to preserve and breed poppies. Then a group kids identified as girl scouts but had no recognition. They greeted the City Council members as everyone does. The reason they came is in the hope to be inspired and to become City Council members or mayors themselves one day. Kids identified themselves by saying their names and then were thanked and left. Mayor’s proclamations continued and the following was National Brain Injury Awareness Month. This awareness month was March 2011 as approved by Mayor John Cook. The speaker was Nancy Peters who is the director of marketing for Mentis Neuro Rehab center for Brain Injury, and she is also the facilitator of El Paso Brain Injury Support Group. She spoke in general about brain injuries and mentioned statistics and the common ages for brain injuries which were kids from birth to four and from nine to fifteen. Then she allowed some of their patients to share their stories and testimonies. Most of the survivors stories were soldiers of Fort Bliss and veterans of the Iraq war and one of them was a victim of a car accident. They shared their stories and thanked Mentis for their efforts and help for them. Afterwards there was a call to the public where six members signed to talk. Their names are William Hart, Jerry Fade, Lisa Turner, Jorge Artalejo, Lynn Fitzgerald, and Manny Hinojosa. First was William Hart who spoke about anti immigration laws and how unjust they are. He compared anti immigration laws to slavery and segregation laws who were unjust, cruel, and inhumane. He also mentioned that being laws doesn’t make them good, because there are unjust laws being supported by lobbyists who pay money to law makers in the United States. He asked to get rid of such laws and to emphasize justice and compassion. He also mentioned that the United States is an immigrant country and that the founding fathers had values of freedom, equality, and justice. Also mentioned that most the immigrants come at a young age and know nothing and love nothing but the United States. The next speaker Jerry Fade was absent, so the third speaker was called. The third speaker was Lisa Turner who spoke about rolling blackouts of electricity and water. She blamed El Paso Electric Company and PSP. She said that they failed to do their jobs and that there was no excuse not to operate in cold weather as the generators and machines are made to operate in all climates. She complained about them not paying attention to their equipment and generators that are supposed to pump water and air to generate electricity. She questioned them spending enough money on maintenance and renewing their equipment and generators. She also said that an Ice storm in New Mexico affects El Paso because of no generator capacity. The fourth speaker was Jorge Artalejo and his topic was â€Å"the wind of change blows through the desert of El Paso†. He spoke about utilities are supposed to operate in different conditions. He also spoke about the city of El Paso elections. The fifth speaker was Lynn Fitzgerald and his topic was â€Å"Frank Buckles buried in Arlington National Semetary†. He complained about not having enough memorials in the United States to honor World War 1 veterans. He asked for a memorial in El Paso for all female soldiers who fought in The United States wars. He thanked all service men who fought for the United States and asked to honor them. Before he left he wanted to a share with everybody a picture that depicted the disastrous effect of the natural disaster in Japan. Final speaker was Manny Hinojosa and his topic was â€Å"Transparency†. He requested more transparency from the city of El Paso in matters such as money spending, electric company to be accountable, city’s help for the elderly, and computers ships planted in trash cans and their cost and benefit. He also asked them to improve their web site to be ahead of newspapers on what’s going on in El Paso. He also asked them to answer their emails, be clear or transparent, and to post issues or news on their web site as soon as possible. After the call to the public ended, there was the Consent Agenda where members of the audience can vote, and items that are not called are approved. Representative Robertson corrected things and asked questions. He also asked to delete incorrect postings and postpone discussions. Introductions for voting sessions began with item numbers and codes about specific cases. Most of the motions passed unanimously, some of which were about city elections, construction, and health. This was my first City Hall public meeting and it was a new experience to me. I liked the fact that I had the chance to witness how governments operate even if it was on a small scale such as cities. I think that the meeting was productive and positive and continued as expected without disturbances or shortcomings. The most important issue to be questioned during this meeting was about questioning El Paso Electric Company reliability and professionalism. I was there for the first hour of the three hours meeting, which I think is enough time to discuss and get things done.

Arabian Nights Essay

In The Arabian Nights, a collection of Arabic folktales, Shahrazad uses the â€Å"ËÅ"Chinese box effect’ to connect her stories to one another in order to continue telling the story to King Shahrayar. The tale of the Husband and the parrot has number of tales that are related to each other tales and to the original story in many complex ways. The subtales of The Story of the Fisherman and the Demon focus on a particular theme, trust, with relations between the characters and the analogy of the situations. A close reading of The Tale of the Husband and the Parrot reveals this particular tale told by King Yunan to the vizier is placed in the book particularly to increase the importance of trust. By linking the tragic death of King Yunan to his distrustful action, Shrazad ultimately tries to convince King Shahrayar to make the right decision: not to kill Sharazad herself and other women. The tale makes an analogy with the tale of the King Yunan and the sage Duban. It parallels the king to the husband and the sage to the parrot. The parrot appears as â€Å"intelligent, knowledgeable, smart and retentive,† (p. 41) just like the sage is described in the story. By listing these adjectives about the parrot, the king emphasizes the parrot is a trustworthy bird that should not be killed. On the other hand, the king thinks the wife, who is â€Å"splendidly beautiful that she was perfect itself† (p. 41) and does not let her husband travel and leave her behind, should not be trusted. King Yunan suggests that the vizier is playing a trick on him like the husband â€Å"had been tricked by his wife† (p. 42). The effect of this clear analogy between the tales is that it leads the readers to expect the king not to kill the sage because â€Å"the same thing will happen,† (p. 42) meaning that the king will have regrets if he kills the sage. The purpose of this particular tale is to strongly advise the virtue of trust. Against expectation, King Yunan kills the sage just like the husband killed the parrot in The Tale of the Husband and the Parrot. In both cases, the main characters regret what they have done. King Yunan does not take his own advice: â€Å"Don’t do what you will regret afterward† (p.41). Instead he kills the sage, which he regrets afterwards which destroys the expected ending of the tale. Then, the readers start to wonder what significance this one-page tale has in The Story of the Fisherman and the Demon. As the tale  of the King Yunan and the sage Duban proceeds, the significance of the tale of the husband and the parrot becomes clear. As a result of King Yunan mistrusting the sage and lacking the confidence in his belief, the king dies of a tragic death. By presenting this tragedy of the king who made the wrong choice by trusting the jealous vizier, the story emphasizes the importance of making a morally correct decision and having a faith in it. If the tale of the husband and the parrot had not been in the story, the king would not have had the choice that was morally right and therefore would not have shown his indecisive nature. The existence of the correct decision that the king should have made causes the death of the king to be more tragic which reveals a stronger message to trust in others that have good conscience and believe in oneself. Another role of the Tale of the Husband and the Parrot involves its purpose to the original situation of Shahrazad and the king. The king has a big difficulty in trusting women due to his wife’s unfaithfulness, like the husband’s distrust of the parrot and the King’s distrust of the sage in the tales. The main goal of Sharazad is to convince the king to make the decision with his good conscience not to kill the women he mistrusts. She suggests that the king should â€Å"not do what he will regret afterward,† because â€Å"the same thing will happen to† him (p. 41) as did to the husband and King Yunan. The tale of the King Yunan and the Sage Duban is used as Sharazad’s prophecy that applies to the king Shahrayar if he determines not to trust her. The tragedy teaches King Shahrayar a strong lesson of the faith in moral judgment and the trust in people with good conscience. The amazing influence of the â€Å"ËÅ"chinese box effect’ in the whole book can be well observed in the Tale of the Husband and the Parrot. The fact that this tale does not influence King Yunan’s decision of the sage enhances the misfortune hence making the theme of the whole story even stronger. The close relation of characters in the sub-tales allows the advice of the tale to affect the characters in all of the tales as well as the ultimate target of Sharazad’s persuasion, King Shahrayar. Sharazad influences King Shahrayar’s decision upon trusting women and his morality in the process of telling stories that are related to the theme, trust.

The role of magic in A Midsummers Nights Dream Research Paper

The role of magic in A Midsummers Nights Dream - Research Paper Example Patriarchal dominance is given a thorough overview within the play and revealed through making humor at the expense of its proprietary nature. The play explores the many ways in which love manifests, allowing for its exaltation as well as its trivialization. The play embodies a duality of mythologies from which to create its discourse. While the nature of the fairy is relative to the mythologies of Europe, the play takes place in the setting of Athens, thus bringing into mind the Greek mythologies. This convergence of mythological settings and universes provides a heightened sense of the supernatural within the play. In addition, as the time period of the Renaissance was a time when humanism was the philosophical standard, it is possible that beyond the mythological parallels, there is a contrast intended between the reason of classicism and the magic of the fairy realm. Therefore, the setting provides multiple levels of consideration, creating a world in which contrast and continuit y are both within the framework of the setting. This setting provides a structure in which the shifting shape of the emotion can be explored as it represents contrasts of differing beliefs. Love is often considered to be a magical emotional element in the human experience. In Shakespeare’s fantastical play, magic creates a complication of human emotions by the influence of the fae, As the fae are not human, but creatures of myth and fantasy, their association to love is both more cold and more passionate than that of human love. Therefore, the consequences of love and the intermix of emotional play that is done by the fairy folk becomes a reflection of the nature of man through a sense of exaggeration (Dowd and Pallata 558). As the play is considered to be a romantic comedy, there is an emphasis on love, but the elements of structure and expectation is how the play is formulated in order to convey the message that Shakespeare intended. Thus, while love is of a primary importa nce, the fulfillment of the expectations of complications that get in the way of love which are finally overcome, naturally leads towards an end which includes marriage (Nostbakken and Shakespeare 3). In A Midsummer Night’s Dream, the complications are created first through the unrequited love within the human world, then through the magic within the fairy world as the fairies choose to interfere for their own amusement. The first complication in the human realm is that of Hermia as she loves Lysander while her father has demanded that she marry Demetrius. If she refuses to marry Demetrius she is given two choices by her father, Theseus; â€Å"Either to die the death, or abjure/ Forever the society of men† (Shakespeare Act 1: Scene 1: lines 65-66). Hermia has been given the choice to either love whom her father has chosen to be her husband or to live without love as a nun. The alternative to both is death. This firmly establishes the human world for its patriarchal nat ure. Males have the control over the future of females, thus their own desires are immaterial to the desires of the male. However, in the fairy world, this patriarchal power is less relevant. The magic in the fairy realm provides an opportunity to make

History of Art Essay Example | Topics and Well Written Essays - 2000 words

History of Art - Essay Example The British Museum is a house of art that houses a wide collection of world art and artefacts free to all visitors. Giovanni Antonio Canaletto drawing of London at around 1751 Image Location: http://www.britishmuseum.org/images/ps355425_m.jpg The picture shows a favorite eighteenth century view of London from high ground. The cathedral is the tallest building in the drawing, as it is seen high in the sky. The middle ground on the right hand edge of the picture presents a building with its walled forecourt, which the artist calls The Founding Hospital at the north of the tow. These make the landmarks of the town among the mass of smaller buildings surrounded by a number of parish churches. The fact that the drawing served as a model for the engraver explains the careful outlines and the slightly labored appearance of the drawing. Although the artist’s characteristic of penwork is evident in the free drawing of the plants in the foreground, which brings out the liveliness of ske tches and drawings which represented a finished work. The visual evidences the artist presents about London are evident in the drawing. Even the color used represents the period during which the drawing was made. Lucas Van Leyden’s Copperplate Engraving of Christ Presented to the People Image Location: http://www.britishmuseum.org/images/ps141709_m.jpg The engraving shows a group of people gathering in a crowd, with some holding swords. The picture shows dressing codes of people during the era when Jesus was crucified. The buildings too represent palace buildings of the time. To bring out the presentation of the time, the artist has used linear perspective to create a detailed sequence of space between multifaceted and magnificent buildings (Griffiths 1510). The background of the engraving shows a clear appearance of clouds, which show the sky background of any good work of art. This work of art also shows the characteristics of a good picture in the way the grounds are arran ged. The foreground, middle ground and the back ground all show differentiated arrangement of views. The sizes of the buildings differ according to the grounds. The engraving is clearly a representation of the period brought out by the artist. Thomas Gainsborough‘s watercolor of A cart Passing along a winding road Image Location: http://www.britishmuseum.org/images/ps219472_m.jpg The image according to its title shows people with a cart journeying on a road with trees depicting a windy weather. These are visually evident characteristics of the image. The artist has used paint to bring out the theme of the picture in the drawing. The watercolor paint used over black chalk heightened with white bodycolor brings the light and shade, which are the most noticeable features in the picture (Royalton-Kisch 1999). The light pool brings illumination to the road, the horses, and gaps appearing between the trees. The picture shows a clear image of nature as the title depicts. The artist b rings out work of landscape artists who can make a good representation of landscape. Wenceslaus Hollar drawing View of The Tower of London Image Location: http://www.britishmuseum.org/images/ps219443_m.jpg The picture, as is visual has a ship in the foreground, in the middle foreground are small boats and at the background is the tower. This drawing was made in pen and brown ink with watercolor over black lead. The foreground shows

The Essence of Humanism Seen Through the Villa Rotunda Essay

The Essence of Humanism Seen Through the Villa Rotunda - Essay Example The Renaissance period also gave birth to the phenomenon of learning from the nature that became the base for the revival of classical letter and teachings. This ideology was backed by the belief that these learning can guide the humans towards the right path of the life. The humanism theorists believe that the human being can seek for assistance from nature in each and every facet of their lives. When it comes to arts, the humanists believe that an artist should reflect the perfection and balance that he found in different creatures of nature. In this way, an artist can also emulate the perfection and balanced beauty of the natural creations (Petrosyan, 1972, p98). The main objective of the following discussion is to explore the humanism through the analysis of an architectural work done during the Renaissance period. In this regard, the essay strives to explore the essence of humanism in one of the finest buildings of Renaissance period; Villa Rotunda that was built by an eminent humanist architect of that time Andrea Palladio who was the chief architect of Venetian Republic. This building is chosen because Palladio is among the prominent humanists of his age and the focus upon one of his major accomplishment could be a significant way to apprehend the values of humanism reflected through the art pieces. Palladio was among the most influential architects of the Renaissance era whose work is a great source of inspiration even for the architects of modern time (Hopkins, 2002, p43). He has designed twenty villas in Venetian Mainland during his lifetime and almost all of them are regarded as beautiful example of renaissance arts; however, the vill a rotunda possesses a distinguished position among all of his works and it has been regarded as the finest and subtle artwork of Palladio that is alive even after centuries (Howard and Deborah, 1980, p224).

Matlab Assignment Example | Topics and Well Written Essays - 2250 words

Matlab - Assignment Example The results indicated to show that system (a) had a significantly larger absolute steady state error as compared to the system (b). It is equally clear that system (B) displayed a greater accuracy with less absolute steady state error as compared to that of the system (a). This leads to a conclusion that the positive error value of system (b) established the system output’s stability. Prior to the introduction and calculation of the error formulas, it is possible to determine the system’s performance by the use of its constant (K) value. A perfect system with no steady state error, ideally, Kp would be equal to zero, Kv would be equal to one and Ka would be equal to one. It is however extremely challenging to attain this kind of a system. If Kv or Ka would be equal to zero, then the steady state error would be infinite as illustrated in the results in the table. If Kpos would be equal to negative one, then the steady state error would become infinite. The results from the table show that the Kpos is very close to negative one. This is basically the reason as to why it has a large value of the steady state error. The sign recorded by the steady state error gives an indication of whether the output is greater than the input or vice versa. For instance, the table shows that system (a) displays a negative error value making the output of the system to be greater than the input. This designates some degree of amplification. On the other hand, the system (b) displays a positive error making the output smaller than the input.

Health Promotion Assignment Example | Topics and Well Written Essays - 1250 words

Health Promotion - Assignment Example The main aim of the paper would be to analyze the various prevention strategies of diabetes. It will also determine the importance of health promotion and the processes through which the concept can be popularized. The findings precisely showed the ways to curb the disease i.e. (Diabetes) along with ways for ensuring diseases prevention through effective health promotion. It will also highlight about the appropriate programs that can be effectively implemented to provide proper diagnosis of the health diseases by the medical experts. All those factors that contributed to the sole purpose of improving the health of the people will be highlighted upon (Fuhrman, 2012). 1) Health Promotion and Disease Prevention Issues Related To Diabetes Screenings and Weight Maintenance for a 19 Year Old Male with Family History of Heart Disease As per the above statement, it can be analyzed that a 19 year old male with family history of heart diseases should place due consideration on weight maintenan ce and should conduct regular diabetes screening. It is due to the reason that people with overweight are more prone to acquire diabetes. Furthermore, a person with diabetes is prone to all kinds of diseases. A diabetic patient is always under the risk of acquiring the most dangerous diseases. But there are various measures to lower its bad effects and even ending it. In this particular case, the best and the simplest technique for avoiding the disease is to follow a strict diet plan. The 19 years old male with family history of heart diseases should be strictly directed by his physician to avoid oily food along with junk food and it should also be made clear to the boy to consume lots of boiled vegetables. This way it can control both the weight and diabetes. This concept will provide great aid in the overall health promotion as the intake of healthy diet and its benefits can be widely highlighted by the medical experts (Fuhrman, 2012). However, there may arise certain issues while preventing the disease, the 19 year old may not be able to cope up with the changes in his food habit and may find it very difficult to follow a new diet. Also, being a teenager the 19 year old may not be able to follow a strict routine of medicines and may not like the idea of following a prevention strategy of fatigue and diabetes. 2). Developing a Comprehensive Plan of Care Reflecting Appropriate Wellness Nursing Diagnoses and the Inclusion of Nursing Interventions Classification (NIC) and Nursing Outcomes Classification (NOC) A comprehensive plan of wellness treatment generally proves to be very effective as it caters to the health conscious individuals. At the same time a comprehensive plan facilitates in recommendation for nursing staff with certain specific standards for promoting efficient patient care and wellness. This plan will help in the overall analysis of the medical processes that are followed and will also facilitate in creating a sustained atmosphere of proper med ical treatment. It is worth mentioning that nursing diagnosis entails clinical judgment regarding individual, family and community in order to response the health problem. It provides the center for the selection of nursing intervention for achieving outcome. After identifying the nursing diagnoses, it is essential to set priorities, documenting expected outcome, and stating target dates. In the first stage of setting priorities, the nurses should identify problems that can be effectively resolved. This can be done on the bases of methods such as placing priorities based upon the life threat imposed by the problem (Newfield, Hinz, Tilley, Sridarmont & Maramba, 2012). The next stage involving expected outcome can be related with the patient action. Correspondingly,

Urban economy Assignment Example | Topics and Well Written Essays - 250 words

Urban economy - Assignment Example The buildings are taller to make use of space and accommodate the main businesses that give the city its developmental characteristic. Gas price determines the construction rate of city structures, a high price less development and vice versa (Florida & Mellander, 2014). Rising incomes have a direct proportionality effect on cities because the development will be focused to assist the well-being of the income earners. Land prices take long because of the economic speculation that is linked to profitability of the land. Sprawl is considered a market where decision makers have direct impact to the spatial growth of the city. Consumer locational equilibrium is the ability for the consumer to embed owns preference over distance distribution cost when choosing to consume a product. Compensation differential is a state offered wage to offset the balance between a preferred and un-preferred job. Terminal cost is the cost incurred when disposing the asset (Florida & Mellander, 2014). Externality damage is unwanted cost to the least expected party. Scale economy is the advantages that in terms of cost cutting that establishment stand to gain due to magnitude of

Management Case Study Example | Topics and Well Written Essays - 1750 words

Management - Case Study Example The reason Nike Inc. has succeeded is underpinned by a myriad of factors, as shall be seen in the discussion which ensues forthwith. One of the factors that has guided Nike Inc. into success is its radical mission which currently is to lead in corporate citizenship and life, through proactive programmes that are reflective of care for the world family of Nike Inc. family, its teammates, consumers and those extend services to Nike Inc. In a closely related wavelength, Nike enjoys its chief position in corporate performance because of its objectives. Presently, Nike Inc.’s objective is to keep the cost of manufacturing down through intense competition of the industry in which Nike operates. The feasibility of this objective is underscored by the fact that many other companies that are in athletics industry use the cost of investments and operations in countries before going to a foreign market. Nike Inc.’s strategy has also helped propound it into the world’s leading sports business brand. Particularly, Nike Inc. has used partnering in import-export trade. This is seen in the instance where Nike entered into partnership with Onitsuka Tiger in 1964, to help it import Onitsuka Tiger running shoes in Japan. It is for this reason that as the 1970s came to a close, Nike Inc. had shot from 10 million dollars sales to 270 million dollar sales. It is because of this that by 1996, the company had registered revenue of 6.74 billion dollars. In 2000, the sales had reached 12 billion dollars (Goldman and Papson, 1998, 22). Another prime strategy which Nike Inc. uses is the selling of its performance equipment. Nike’s performance equipment include footwear, balls, socks, bags, bats, gloves, eyewear, electronic sports devices, time pieces and protective equipment. Alongside this, Nike also provides apparels for legitimate or licensed sports teams. To execute this strategy well, Nike Inc. uses

Assessment and Tests Evaluation Research Paper Example | Topics and Well Written Essays - 500 words

Assessment and Tests Evaluation - Research Paper Example I chose this test since it plays a lot of significance in determining the qualities and capabilities of an individual. It reflects on the level of personification one has over the looming issues in life (Anderson & Morgan, 2008). This is a test administered in order to determine the activeness and relation of ones interests with those of a certain career. For instance, if one is interested in what goes on and is done by teachers, then that particular individual can make to be a good teacher. I chose this test since it reflects in individual capabilities and interest as rested in their talents. Anderson, P. & Morgan, G. (2008).Developing Tests and Questionnaires for a National Assessment of Educational Achievement, Issue 277, Vol. 2 of National Assessments of Educational Achievement. Chicago, CA: World Bank Publications Soled, S. W. (1995). Assessment, testing, and evaluation in teacher education, Social and Policy Issues in Education: Contemporary Studies in Social and Policy Issues in education, Kerry Carlyle Series. New York, NY: Greenwood Publishing

Why did the reds win the Civil War Essay Example for Free

Why did the reds win the Civil War Essay The Reds won the Civil War for many reasons, but some are specifically more important than others. Some factors such as†¦ Geographical advantage   Strong leadership Unity and organisation   Support Paragraph 1 (Short) (6 mins) The geographical advantage of the Reds helped them with the Civil war because it provided them with military benefits that the Whites did not have. Geographical Factors   Reds: Held central area of Western Russia – Moscow + Petrograd = population for conscription   Whites: Scattered amongst Russia. Reds: Controlled large industrial centers produce war supplies deliver them efficiently amongst soldiers Whites: Communication difficult, hundreds of miles separated different armies – created disunity   How did this help them win? Because they had abundant resources while the Whites did not†¦ Paragraph 2 (Short) (6mins) The Reds won the Civil war partly because of their enemy’s disunity and lack of organisation. The Reds could therefore exploit the White’s major weaknesses in order to secure a victory. Unity + Organisation   Whites: Some members were liberal and just satisfied with the returning of the Provisional government   Whites: The generals distrusted each other Didn’t communicate with each other about attacks bases already far apart Reds: Conscription was introduced and Trotsky hand picked loyal soldiers army increased from 100,000 to 500,000 by August 1918   Reds: January 1920 5 million men enlisted former Tsarist officers held with blackmail   The result? The Campaigns of Kolchak and Deniken contributed to the Red’s victory (lack of troops, unorganised) Production of weapons war communism Paragraph 3 (6 mins) Without a clear sense of direction and leadership the Reds would have had difficulty in their success. Lenin and Trotsky were robust leaders who led the Red’s to their victory. Leadership   Trotsky traveled 65,000 miles throughout Russia assisting front line to encourage Red soldiers.   Lenin clear and structured leadership Whites: Had multiple leaders who set bad examples by drinking. Whites: Aided landlords to gain lost land (lost support from peasants)   Whites: Once peasants conscripted   Brutal discipline = want democracy more   The result? : Better army and more support = victory Paragraph 4 (6mins) Another factor that meant the Reds won the Civil war was because of the amount support they gained in Russia. Support   Reds: gained support through repression and reform Repression: Cheka, grain requisitioning,   Reform: Propaganda, VIK peasant representation of villages in dealings with central government. Briefly mention former Tsarist commanders (blackmail)   Whites: Had foreign aid from France, Japan and USA. Was half hearted and some troops sympathised with Reds. Whites: Peasant soldiers often switched sides, as they were not happy with White’s declaration of returning land back to landlords.   The result? : Had committed troops who fought for them, ensuing in a better army. Conclusion (10) To conclude, I think the main reason as to why the Reds won the Civil war was because of their enemy’s disunity and their lack of support. The White’s became infamous for their terror they brought. Estimated 100,000 – 150,000 Jews in Ukraine and southern Russia were killed in pogroms.   Result? Loss of support   Reds managed to gain 48,000-experienced Tsarist officers   Compare with Whites and their unorganised efforts Effect of good army?   Reds: Ensure loyalty of officers and men, political commissars attached to provide ‘political education’. Whites? Less loyalty   Disunity?   Campaign example Why did the Reds win the Civil War in 1920 Essay Plan.

Ocean Thermal Energy Conversion Otec Environmental Sciences Essay

Ocean Thermal Energy Conversion Otec Environmental Sciences Essay The oceans cover a little more than 70 percent of the earth surface. This makes it the worlds largest solar energy collector and energy storage system. On an average day, 60 million square kilometers if tropical seas absorb and amount of solar radiation equal in heat content to about 250 million barrels of oil. The history of mankind, have depended upon its ability to conquer the forces of nature, and to utilize these forces to serve its needs. Energy technology is certainly one of the most important factors in the emergence of mankind as the dominant species of this plant. The invention of the practical steam engine by James watt, brought about development of large factories, steam ships and the steam locomotive. First wood was used, then coal. About the same time, the use of coal instigated advances in metallurgy .petroleum from natural seepage has been used since ancient times for lighting, lubrication and waterproofing. The introduction of drilling for oil greatly increased the s upply of oil. The industrial revolution switches in to high gear. One problem is that the natural seepage is limited and in a few years the elements will be used. The development of nuclear power was touted as the answers to all mankinds energy woes. It not turned out that way. The elimination of government subsidies for nuclear power plants has made them quite unaffordable. When it went so bad no insure in the world will write disaster for nuclear power plant The concept of OTEC (ocean thermal energy conversion) has existed for over a century as fantasised by Jules Verne in 1870 and conceptualised by French physicist, Jacques arsene d arsonval in 1881. Despite this an operating OTEC power facility was not developed until the 1920s. 2.2 WHAT IS OTEC OTEC, ocean thermal energy conversion is an energy technology that converts solar radiation to electric power. OTEC systems use the oceans natural thermal gradient, consequently the temperature difference between the warm surface water and the cold deep water below 600 metres by about 20c, an OTEC system can produce, a significantly amount of power. The oceans are thus a vast renewable resource; with the potential to help us in the OTEC process is also rich in nutrients and it can be used to culture both marine organism and plant life near the shore or on land The total influx of solar energy into earth is of thousands of time as a great as mankind total energy use. All of our coal, oil and natural gas are the result of the capture of solar energy by life of the past. There have been, any projects for harnessing solar energy, but most have not been successful because they attempt to capture the energy directly. The idea behind OTEC is the use of all a natural collectors, the se, instead of artificial collector. 2.3 HOW OTEC WORKS Warm water is collected on the surface of the tropical ocean and pumped by a warm water pump. The water is pumped through the boiler, where some of the water is used to heat the working fluid, usually propane or some similar material. The propane vapour expands through a turbine which is coupled to a generator that generating electric power. Cold water from the bottom is pumped through the condenser, where the vapour returns to the liquid state. The fluid is pumped back into the boiler. Some small fraction of the power from the turbine is used to pump the water through the system and to power other internal operations, but most of it is available as net power. There are two different kinds of OTEC power plants, the land based and the floating plant. First, land based power plants, the land based pilot plant will consist of a building. This building will contain the heat exchangers, turbines, generators and controls. It will be connected to the ocean via several pipes, and an enormous fish farm (100 football areas) by other pipes. Warm water is collected through a screened enclosure close to the store. A long pipe laid on the slope collects cold water. Power and fresh water are generated in the building by the equipment. Used water if first circulated in to the marine culture pond (fish farm) and then discharges by the third pipe in to the ocean, downstream from the warm water inlet. This is done so that the outflow does not reenter the plan, since re use of warm water would lower the available temperature difference. While, the other OTEC power plants is floating power plants, the floating power plant works in the same way as the land base d the apparent different is that the floating plant is floating. Where actually OTEC can be used, OTEC can be sited anywhere across about 60 million squares kilometres of tropical oceans anywhere there is deep cold water lying under warm surface water this generally means between the tropic of cancer and the tropic of Capricorn. Surface water is these regions, warmed by the sun, generally stys at 25 degrees Celsius or above. Ocean water more than 1000 meters below the surface is generally at about 4 degrees C. 2.4 TYPES OF OTEC There are three types of OTEC designs: open cycle, closed cycle and hybrid cycle. Closed cycle Closed cycle systems use fluid with a low boiling point, such as ammonia, to rotate a turbine to generate electricity. Here how it works. Warm surface sea water is pumped through a heat exchanger where the low boiling water point is vaporized. The expanding vapour turns the turbo generator, then clod, deep seawater pumped through a second heat exchanger condenses the vapour back into a liquid, which is then recycle through the system Open cycle Open cycle OTEC uses the tropical oceans warm surface water to make electricity. When warm seawater is placed in a low pressure container, it boils. The expanding steam drives a low pressure turbine attached to an electrical generator. The steam, which has left its slat behind in the low pressure container, is almost pure fresh water. It is condensed back into a liquid by exposure to cold temperature from deep oceans water Hybrid cycle Hybrid system combines the feature of both the closed cycle an open cycle system. In a hybrid system, warm seawater enters a vacuum chamber where it is flash evaporated into steam, similar to the open cycle evaporation process. The steam vaporizes a low boiling point fluid that drives a turbine to produce electricity 2.5 ADVANTAGES AND DISADVANTAGES OF OTEC The advantages of OTEC is the uses OF OTEC is clean, renewable, its natural resource. Warm surface seawater and cold water from the ocean depths replace fossil fuels to produce electricity. Second, its suitably designed OTEC plants will produce little or no carbon dioxide or other pollutant chemical Third, OTEC system can produce fresh water as well as electricity. This is a significant adapted in island areas where fresh water is limited, other there is enough solar energy received and stored in the warm tropical oceans surface layer to provide most, if not all, of present human energy needs and last the use of OTEC as a source of electricity will help reduce the state almost complete dependence on imported fossil fuels. The disadvantages of OTEC is produced electric at present would cost more than electricity generated from fossil fuels at theirs current costs. Second, OTEC plants must be located were a difference of about 20;c occurs year round. Ocean depths must be available fairly close to shore based facilities for economics operation. Floating plant ships could provide more flexibility. Third, there is no energy company will put money in this project because it only has been tested in very smell scale and last, the construction of OTEC plants and lying of pipes in coastal water may cause localised damage to reefs and near shore marine ecosystems. 2.6 ENVIRONMENTAL IMPACTS OF OTEC OTEC systems are, for the most part, environmentally benign. Although accidental leakage of closed cycle working fluids can pose a hazard, under normal conditions, the only effluents are the mixed seawater discharges and dissolved gases that come out of solution when sea water is depressurized. Although the quantities of outgassed species may be significant for large OTEC systems, with the exception of carbon dioxide, these species are benign. Carbon dioxide is a greenhouse gas and can impact global climate; however, OTEC systems release one or two orders of magnitude less carbon dioxide than comparable fossil fuel power plants and those emissions may be sequestered easily in the ocean or used to stimulate marine biomass production. OTEC mixed seawater discharges will be at lower temperatures than sea water at the ocean surface. The discharges will also contain high concentrations of nutrients brought up with the deep sea water and may have a different salinity. It is important; ther efore, that release back into the ocean is conducted in a manner that minimizes unintended changes to the ocean mixed layer biota and avoids inducing long-term surface temperature anomalies. Analyses of OTEC effluent plumes suggest that discharge at depths of 50-100 m should be sufficient to ensure minimal impact on the ocean environment. Conversely, the nutrient-rich OTEC discharges could be exploited to sustain open-ocean Mari culture

Impacts of Child Labour in Developing Countries

Impacts of Child Labour in Developing Countries What are the causes and consequences of child labour amongst developing countries The child labour as a social and economic phenomenon has many aspects the most important of which seems to be the low level of financial growth that characterizes several countries which are commonly known as ‘developing.’ This paper illustrates the conditions that created the necessity of the child labour, and at the same time it presents the consequences of this situation as they can be observed through a series of specific facts and other types of empirical evidence that have been collected by the relevant sources of scientific research. The analysis of the problem, as described above, is followed by the presentation of a number of policies, which could help thelimitation of the problem to the most feasible level. The research done on this specific problem has revealed the existence of a high volume of relevant theories as well as of statistical data that have also been used to support the current paper. ÃŽâ„¢. Introduction The problem of the child labour has become a very important subjectof examination and research by the most of the internationalinstitutions especially the last decade. The reason for that is not the absence of this problem in the past but the development of the technology and the communication around the world that gave the opportunity for a series of long-lasting social problems to becomeknown to the international community. The extension and theimportance of the specific problem are severe obstacles towards its elimination. On the other hand, the creation of an international legal framework   asit has been expressed by the establishment of authorized bodies and the signing of a series of orders and Conventions, can considered as an important step towards the achievement of a solution.  Ã‚   We have to notice though that the best possible policy to thatdirection would have to compromise with the existence and the size ofthe problem avoiding to set targets that could not be achieved. Under the current circumstances, the child labour cannot disappear from the scene; it can just be reduced to a certain level (as this one is formulated by the social and financial conditions of each country). The main aim of this paper is to provide a detailed examination of the problem backed with a series of relevant data and other empirical evidence. The analysis of the current situation, as described in Chapter II, begins with the presentation of the background of the problem followed by statistical data and the views stated in the literature regarding the definition and the observation of child labour amongst developing countries. The policies that can be applied for the limitation of the problem are being presented in Chapter III. The investigation of the facts and the needs that created the phenomenon of the child labour cannot be achieved without the use of the literature (Chapter IV) that has been dealt with the specific matter mainly during the last years. The evidence that has been used to identify and interpret the problem,is presented in Chapter V. Finally, Chapter VI contains brief remarks on the problem as they have been extracted from the research done. II. The child labour in the international community – background, definition and areas of children exploitation The period in which child labour appeared as a social reality cannot be defined with accuracy. There are opinions that relate the beginning of the problem with the industrial revolution whereas other ones state that the child labour had first appeared in the nineteenth century. From an investigation that took place in Britain in June 1832, it seems that the phenomenon of child labour was known at that period and referred to children working as laborers mainly to factories butalso to other business activities. The above investigation (as it is analytically presented in Basu, K., 1999, 1088) was supervised by a British Parliamentary Committee and had as main subject the child labour in the United Kingdom at that period. Although Britain was in a rather high rank regarding the child labour – which can be explained by the fact that England was under development at that period of time –other countries that also had a remarkable industrial development likethe Belgium, the USA and the Japan, presented a similar image regardingthe work of children in the multiple sectors of industry (see also K.Basu, 1999, 1088-89). Moreover, the data collected for the measurement of the relevantpractices during the 19th century showed that child labour did notstart declining in Britain and in United States until the second halfof that century (L.F. Lopez-Calva, 2001, 64). The dimensions of the problem of child labour can create an important concern about the level of the life that a lot of children face but also about the financial situation of a large majority of families around the world. According to data collected by the International Labor Organization (ILO), there are approximately 250 million working children aged between 5 and 14, of which at least 120 million are involved in full-time work that is both hazardous and exploitative (seealso T. I. Palley, 2002). Although the so-called ‘developed’ countries have shown samples of tolerance regarding the child labour, the areas that seem to cultivate the problem are those with low level of economic   and industrial growth. In a relevant research made by D.K. Brown (2001) it seems that the major factor for the existence of the problem is the poverty. The capital market failure   of a specific country (as it is expressed tothe every day aspects of life, like the low level of schooling) isconsidered as another important element that co-operates the appearance and the extension of the phenomenon. When speaking for child labour we usually refer to any work by childrenthat interferes with their physical and mental development , i.e. anywork that keeps the child away from ‘childhood related activities’(Chandrasekhar, 1997). The above definition although containing ageneral view of the child labour, it cannot be applied under allcircumstances bearing in mind that a lot of differences may appear inthe context of ‘childhood related activities’ in dependance with the country and the cultural influences. In this case, a more specific description of child labour is considered as necessary. M. Majumdar(2001) divides the child labour into the following categories: a) the household work, b) non-domestic and non-monetary work, c) wage labour and d) commercial sexual exploitation and bonded labour. The child labour can be applied in many areas. As an indicative examplewe can refer to the report of the National Consumers Leage (NCL) which divides the possible areas of child labour into the followingcategories (refering to specific daily activities and regarding thedanger that they include): agriculture (is the most dangerous industryfor the young workers), working alone and late-night work in retail(most deaths of young workers in this industry are robbery-relatedhomicides), construction and work at heights (deaths and serious injuryresult from working at heights 6 feet and above. The most common typesof fatal falls are falls from roofs, ladders and scaffolds or staging),driver/operator of forklifts and tractors (tractor-related accidentsare the most prevalent cause of agricultural fatalities in the U.S.A.),traveling youth crews (defined as youth who are recruited to sellcandy, magazine subscribtions and other items door-to-door or on streetcorners, these youth operate under dangerous conditions and areunsupervised) (Occupational Hazards, Aug2004) III. Policies towards the limitation of the problem A fundamental measure for the limitation of the child labour is thecreation of legislation   that would impose a minimum work age and yearsof compulsory education. Although this solution seems rather in it’sdesigning, in practice it’s quite difficult to operate . The needs ofthe everyday life can often surpass the power of the legal rules, which have been structured usually after the examination and the analysis of specific events and cannot confront the problem to its whole area. One of the main problems that a family usually faces is the change inthe working situation of its (adult) members and the financial pressurethat usually follows. Of course, there is always the solution of funding (especially when the general financial market of a country offers such an option) . However, there are occasions that such an alternative cannot operate either because the country do not afford such a plan or the specific family do not have access to this plan. Under these circumstances, it could still be possible for the householdto tap internal assets. The presence of the father in a household, thepresence of an older person in the household or the capacity of the mother to enter into the market in order to work or proceed to another type of work (in a personal enterprise), all the above can be variables that can support the assets of a family even if the latter is suffered from strong financial difficulties (see also D. K. Brown, 2001, 766). Despite the theoretical character of the legislation, there could beother measures , more applicable   and feasible to be realized. Aneffort that has such a character is the increased spending on books,supplies, buildings and teacher training as it has been pursued by several governments   (D. K. Brown, 772). In cases that the child labour cannot be avoided, there could be somemeasures   to both to protect the children and help them to continuetheir school   (while keep on working). The design of specific schedules that would allow the children to attend school after their work could be proved very helpful towards this direction. Of course, such a plan contains a lot of requirements that need to be met . As an example we could mention the sufficiency of resources (teachers) that could workfor the extra time needed and – at the same time – the existence of afinancial strategy (and of the relevant money) for the payment of these resources. On the other hand, a problem that may arise is the lack ofequipment or capital for the premises of the school to be open forextra hours. And we cannot forget the danger that may be related withthe attendance late at night (especially in the case of the paper – thedeveloping countries). The phenomenon of the child labor has been examined and analyzed to the highest possible point by the use of the observation and theresearch in accordance with the existing legislation and the general rules that have been introduced from several countries aiming to the limitation of the problem. One of the most important studies regarding the child labour is this ofK. Basu and P. H. Van (1998) who tried to find and analyze the causesof this specific problem. After studying the results of the empiricalevidence they came to the conclusion that child labour was notconnected exclusively with external factors (i.e. employers) but it was mostly the result of internal (in the family) decisions and facts.Towards that direction, K. Basu   and P. H. Van examined first the view that child labour has been based on the ‘greed of employers who employthe children and the parents who send the children to work’. The above statement is first examined by the fact that in families, which can afford the non-work of children (i.e. when the income of the parents isconsidered as sufficient), the parents try to avoid sending theirchildren to work. This phenomenon appears even in very poor countries.Under the previous aspect, the child labour is connected with thefinancial situation of the family (usually income of parents) and not the interests of the employers. This assumption of the leading family’srole is also backed, according to K. Basu and P. H. Van, by the analysis of late nineteenth-century cencus data for Philadelphia whichwas made by Claudia Goldin in 1979. According to this analysis, when the income of the father is high the probability that the child will enter the labour market is low and this relation operates in a very tight interaction (the higher the wage of the father, the lower thechance of such a fact to get realized). Another empirical evidence that seems to back the views of K. Basu and P. H. Van comes from a research that was made on this issue (connection between the family’s decision and the child labour) by D. Vincent who studied working-class autobiographies. The results of his study showed that the children when working avoid to blame their parents but they tend to believe that it was the poverty that imposed their participation in the labour market.K. Basu and P. H. Van examined the issue of the role of the family’s decision to the child labour under the assumption that the decision ismade by a parent. They also admit that the results of their study may differ in case that this decision is made by another person (as stated by the theories which ask for the rejection of the ‘unitary model’ of the household). Regarding the role of the family’s decision to the child labour, J. G.Scoville presented a model of the above decision based on the use of mathematical symbols in order to represent the real facts. In his model, there are factors (such as the social or economic class, race,ethnicity, caste or color) that define the family utility function andin this way they can cause important implications to labour market segmentation (J. G. Scoville, 715) Regarding the existence and the extension of the child labour, M.Murshed states that two are the basic issues that need to be examined in order to achieve a comprehensive analysis of the problem. The first issue includes the mechanisms under which the family decides to send a child at work. The second one is the reason for which the employers demand child laborers. In order to explain the first issue, M. Murshed uses the theory ofBecker’s, known as ‘A theory of the Allocation of Time’, which presents a model for studying the household decision-making process. In the above model Becker’s suggests that the decision of the family is based to the needs of the household. Whenever an extra income is consideredas necessary, family decides to send the child at work. In this model both wages of children and adults contribute to family resources. As for the second issue, M. Murshed (179) argues that employer tend to demand child laborers because ‘they are less aware of their rights,less troublesome, more willing to take orders and to do monotonous work without complaining. Another factor is also that children work forlower wages and are not in a labour union because they work illegally’. M. Hazan and B. Berdugo (2002, 811) examined the dynamic evolution of child labour, fertility and human capital in the process of development. Their analysis is based on the following assumptions: a)parents   ‘control their children’s time and allocate it between labourand human capital formation’, b) parents care about the futureearning’s of their children, c) the income that is generated by children is given to parents’ and that d) child ‘rearing is time intensive’. According to their findings, in early stages of development, the economy is in a development trap while child labour is abundant, fertility is high and output per capita is low.   On the other hand, the increase in the wage differential (between parental and childlabour) ‘decreases fertility and child labour and increases children’seducation. As a final result, child labour tends to decrease as the‘household’s dependency on child labour’s income diminishes’. The ‘welfare economics’ approach tries to examine the child labour from the scope of investment and time allocation within the household. According to this theory, the time of the child (the non-leisure one)can be used either for school attendance and/or for work. The family makes a decision for the allocation of the child’s time (i.e. for one of the above mention activities) after the calculation of the difference between the marginal benefit of the child labour (i.e.earnings and saved costs of schooling) and the marginal cost (in terms of foregone return to human capital investment). If the first of the above elements is estimated as having a higher price than the second one, then the family decides the participation of the child to the labour market (see also M. Majumdar, 2001). The decision of the parents regarding the entrance of their children tothe labour market can – under certain circumstances – be unefficient.According to Ballard and Robinson (2000) the above decisions areefficient when the credit market is perfect and the intergenerational altruistic transfers are nonzero. On the other hand, when there are liquidity constraints or the altruistic transfers are at a corner,these decisions are considered as inefficient. A. Bommier and P. Dubois(2004) critically evaluated the views of Ballard and Robinson andargued that the decisions of the parents could be inefficient even ifthe credit markets are perfect and there are altruistic transfers. More specifically, they argued that when parents are not altruistic enough,there is a ‘rotten parents effect’ in which parents ‘rationally sacrifice some childhood utility’ and ‘choose a level of child labour that is inefficiently high’. V. Evidence related with the phenomenon of child labour The child labour has been the subject of a thorough study and research and there are a lot of theories that have been stated in aneffort to define the causes of the specific problem. Towards thisdirection there have been a number of facts or existing situations thathave been used to explain the relation of the child labour with somespecific factors . One of the most known reasons for the existence andthe increase of the problem is the poverty of the household which is related with the general aspect of the modern way of life (as it hasbeen formulated under the influence of the technology) and also the fact that parents when have a low level of income   do not tend to invest in the education of their children in order to achieve a high level of return (education can help to the improvement of the status of life through the increase of the level of consumption). We could also state that the income of the children can help toameliorate the conditions of life of the family and this could be thereason why the children tend to leave the school and work when their family is under severe financial pressure. This is an opinion that tries to explain the child labour through the life circumstances of a child and aims to smooth the negative consequences of the child labour. Although the poverty   is usually presented as the main reason for thechild labour , there are some aspects that need to be taken intoaccount when examining the problem. First of all, we cannot define withaccuracy the financial benefit of a family from a child’s work. Of course, child labour can help to the amelioration of the family’s financial situation, however it is not obvious how much worse off afamily would be if the children were in school. On the other hand, we could not specify the time needed for the economic development to beachieved in order for the child labour to be abolished. More specifically it seems that there is no consistent threshold of economic development, which preceded the decline of child labour to suggest the implied relationship between economic growth and declice of child labour (M. Majumdar). In such a case, the argument about the poverty criterion of child labour can loose its significant content. We should notice that, no matter which is the financial situation of the family,even in cases of exremely low level of living, the participation of thechild to a work that could characterized as ‘hazardous’ cannot bejustified as the protection of the child’s rights are a priority. Moreover, the child labour although can help temporarily to theconfrontation of the poverty – up to a specific point – however, it canalso create the basis for the development of property by generatingpoor people to the next generation. If the child returns to school theyhave more chances to a higher level of earnings in the future or at aleast to a job that will secure their living to certain standards(avoiding the condition of poverty). The combination of these two factors could also create a better investment and a greater security of income for the family by eliminating the obstacles of poverty. The relationship between the poverty and the child labour is not absolutely proved. S.E. Dessy and D. Vencatachellum examined the issue using a sample of 83 countries and found that the coefficient of correlation between the incidence of child labour and the logarithm of gross national product is –0.74. In this way, they were directed to the assumption that child labour declines with economic prosperity, as parents feel relaxed regarding the credit constraints. However, at a next level, they found that there are countries with similar levels of gross domestic product per capita that differ in the percentage of child labour. In fact, some of them report no child labour, where as others report a high level. This assumption is also in accordance withthe view of Anker (2000) who stated that although poverty is positively correlated with child labour, there are also other factors that can reduce the school enrolment rate of a country. Hussain M. and Maskus K.E (2003) used a series of data from 64 countries in the period 1960 – 1980 to investigate a series of testable hypotheses about the causes of child labour. Their research showed that the incidence of child labour is negatively related to parental huma ncapital and education quality, but it is positively correlated with education cost and also that countries with higher amounts of child labour tend to have lower stocks of human capital in the future. They also found that there is a convergence phenomenon between the level and growth of human capital, i.e. the lower the current stock of human capital, the higher is current child-labour use and the fasted is the growth rate of human capital. G. Hazarika and A. S. Bedi (2003), examined the relationship between the schooling costs and the extra household child labour supply and found that these two elements are positively related.   Moreover, the intra-household labour of children engaged in market work evaluated as unresponsive to changes in schooling costs. This happens maybe,according to Hazarika and Bedi because parents tend to consider children’s extra household labour and schooling as substitutes while they view intra household child labour activity differently. But if the parents could evaluate the intra-household child labour as an activity that offers more benefits than just an increase of the household consumption, then it could be a relationship between the intra-household child labour and the schooling costs. As for Pakistan(where this research refers) the intra-household child labour and schooling are not substitutes. We should also mention the importance of social norms and the cultureto the appearance and the extension of the child labour. The above analysis has to be done under different variables for the rural areas as opposite to the urban areas. Children that live in the first environment tend to help to the everyday activities in the farm and asa result, their work under these circumstances is presented as justified and necessary. As for the social norms, their role is considered as very important to the financial growth, as they have to power to influence the economic and social behaviour of the vastmajority of people. The most indicative example of their influence isthe fact that in areas where the work of children is accepted by thepeople, then the decision of a parent to send his child to work can bemuch more easy. Another very important aspect of the child labour is that is usually associated with the child abuse. Under this aspect, the reasons for the participation of the children to the labour market can be found in the demand of employers for cheap laborers and in the existence of selfish parents who do not mind sending their children to work if – in that way– there are more chances for them (parents) to rest. According to K.Basu and P. H. Van, although the child abuse does occur in allsocieties, the phenomenon of the child labour as a mass in most of developing countries is much more related with the poverty that characterises these countries. They refer to the example of England(late eighteenth and early nineteenth century) where parents had to send their children to work because they were obligated from the circumstances (poverty) to do so. VI. Conclusion The existence and the rapid extension of the phenomenon of child labour seems to be connected with the a series of external factors(like the low economic growth or the unadequate social policies of aspecific country) however it can be assumed by the analysis made abovethat it is also directly depended on the child’s ‘close’ social environment, i.e the family. It’s for this reason that the measures taken towards its elimination have to be referred into both these areas. The two sides have to co-operate and act simultaneously in order to confront this very important problem. The ‘solution’ (as it is often presented) of the child labour has to be interpreted under different criteria regarding the specific circumstances that it will have to occur. Although in certain occasions the entrance of the child in the labour market seems to be the only left choice, we have to bear in mind its particular physic and mental weakness (that follows its age) and evaluate the consequences for such a decision. In any case, we have to consider that a workplace that operates normally with the use of adult laborers can have negative effects when the issue refers to a child. Although the problem of the child labour is very important to its nature and its extension, the measures taken to its elimination don’t seem to produce any result. The conflict of interests towards its continuation has a great responsibility to it. And these interests refer to different parties (external and internal as mentioned above).This reality must be admitted and the efforts should be directed to the modification of the existing conditions trying not to confront directly the problem but asking the parties involved to participate to its solution by offering them a satisfactory exchange for their help. References Admassie, A., ‘Explaining the high incidence of child labour inSub-Saharan Africa’, Development Review, Dec2002, vol. 14, issue 2, p.251 Amin, S., Shakil, Quayes, M., Rives, J. M., ‘Poverty and otherdeterminants of child labor in Bangladesh’, Southern Economic Journal,April2004, vol. 70, issue 4, p. 876 Anker, R., ‘The economics of child labor: a framework for measurement’, International Labour Review, 2000, 139, 257-280 Baland, J.M., Robinson, J.A., ‘Is Child Labor Inefficient?’, Journal of Political Economy, 2000, 108, 663-679 Bommier, A., Dubois, P., ‘Rotten parents and child labor’, Journal of Political Economy’, Feb2004, vol. 112, issue 1, p. 240 Brown, D. K., ‘Child labour in Latin America: Policy and evidence’, World Economy, June2001, vol. 24, issue 6 Dessy, S.E., ‘Explaining cross-country differences in policyresponse to child labour’, Canadian Journal of Economics, Feb 2003,vol. 36, issue 1, p.1 Emerson, P. M., Souza, A. P., ‘Is there a child labor trap?Intergenerational persistence of child labor in Brazil’, Economicdevelopment cultural change, Jan2003, vol. 51, issue 2, p. 375 Hazan, M., Berdugo, B., ‘Child labour, fertility and economic growth’, Economic Journal, Oct2002, vol. 112, issue 482, p. 810 Hazarika, Gautam, Bedi, A.S., ‘Schooling costs and child work inrural Pakistan’, Journal of Development Studies, June 2003, vol. 39,issue 5, p. 29 Hussain, M., Maskus, K.E., ‘Child Labour Use and Economic Growth: aneconometric analysis’, World Economy, vol. 26, issue 7, p. 993 Kaushik, B., ‘The economics of child labor’, Scientific American, Oct2003, vol. 289, issue 4, p.84 Kaushik, B., Van P. H., ‘The economics of child labor’, The American economic review, June 1998, vol. 88, no. 3, p. 412-427 Kaushik, B., ‘Child labor: cause, consequence and cure, with remarkson International Labor Standards, Journal of Economic Literature,Sep1999, vol. 37, p. 1083-1119 Latin Trade, ‘Condemned’, Oct2004, vol. 12, issue 10, p.68 Lopez-Calva, ‘Child labor: Myths, theories and facts’, Journal of International Affairs, Fall 2001, vol. 55, issue 1, p. 59 Majumdar, M., ‘Child labour as a human security problem: evidence from India†, Oxford Development Studies, vol. 29, no. 3, 2001 Mattioli, M. C., Sapovadia, V. K., ‘Laws of Labor: core laborstandards and global trade’, Harvard International Review, Summer 2004,vol. 26, issue 2, p. 60 Murshed, M., ‘Unraveling child labor and labor legislation’, Journal of International Affairs, Fall2001, vol. 55, issue 1, p.169 News, The (Mexico), ‘Child labor in Mexico contributes almost 2 billion dollars to economy’, Sep 26, 2001 Occupational Hazards, ‘Group calls for reform of laws governing teen employment’, Aug2004, vol. 66, issue 8, p.15 Palley, T. I., ‘The child labor problem and the need forinternational labor standards’, Journal of Economic Issues, Sep2002,vol. 36, issue 3, p. 601 Payroll Manager’s Report, ‘International retailer is fined for child labor violations’, May 2005, vol. 5, issue 5, p.2 Professional Safety, ‘DOL issues final child labor rules for restaurant, driving roof’, Mar2005, vol. 50, issue 3, p.24 Puskikar, M., Ranjan, R., ‘The Joint Estimation of childparticipation in schooling and employment: comparative evidence fromthree continents’, Oxford Development Studies, Feb2002, vol. 30, issue1, p. 41 Scoville, J. G., ‘Segmentation in the market for child labor: theeconomics of child labor revisited’, American Journal of Economics andSociology, Jul2002, vol. 61, issue 3, p. 713 Xinhua (China), ‘Half Bangladeshi children malnourished: report’, 12/10/2004 Xinhua (China), ‘ISO countries ratify Convention to combat worst forms of child labor: ILO’, 24/5/2004 Xinhua (China), ‘Micro credit program launched to stop child labor in Bangladesh’, 30/10/2003 Xinhua (China), ‘Over 3 million child laborers in Pakistan’, Jul2002 Xinhua (China), ‘Asian countries to co-operate in eliminating child labor’, 3/3/2003 Walsh, M., Sager, I., ‘The world’s workers may catch a break’, Business Week, 14/3/2005, issue 3924, p.12 World IT Report, ‘India to abolish child labour after 2007’, 15/1/2004

Kevlar and Nomex Fibers :: kevlar nomex fiber

Kevlar fibers are 5 times stronger than steel. Since the introduction of Kevlar technology, industries have used Kevlar for many applications. Kevlar is most commonly used in safety applications such as bullet-proof vests for law enforcement agents, helmets for military infantries, and as protection from fire. Kevlar is a synthetic (person-made) material known as a polymer. A polymer is a chain made of many similar molecular groups bonded together called monomers. A single Kevlar polymer chain could have anywhere from five to a million segments bonded together. Each Kevlar segment or monomer is a chemical unit that contains 14 carbon atoms, 2 nitrogen atoms, 2 oxygen atoms and 10 hydrogen atoms. The hydrogen bonds greatly strenghten the polymer chain. The pattern shows that the aromatic components of Kevlar have a radial (spoke-like) orientation. The radial orientation is important because it allows the polymer chains to be well-ordered and symmetric like the atoms in a crystal. Because of this highly ordered structure, a fiber of Kevlar has few structural flaws or weak places. This lack of flaws or weak places is the biggest reason for the exceptional strength of Kevlar. Kevlar is a magnificent material due to the way that it can disperse the energy and force of an object by its chemical composition. As we know from physics, the pressure that an object exerts on another object is equal to the force divided by the area. Kevlar is remarkable at absorbing and displacing the pressure of an object. Pressure = Force/Area F = (mass * gravity) The ability to absorb energy and displace the pressure of an object makes Kevlar so useful in protecting us from knives, bullets and infinite types of sharp objects. Military helmets today are much lighter and much stronger than helmets of the past. Helmets of the past consisted of metal. As you know metal can get heavy, especailly after long durations of time. Kevlar is also five time stronger than metal. The new Kevlar helmets help keep our troops safe, and do not cause fatigue on their heads. Combat vehicles use composite panels made of Kevlar liners mounted to the inside of the vehicles structure. With the combination of other metals or ceramics, they greatly increase the survivability for the crew members. Kevlar does not melt or shrink when exposed to extreme heat. It is also extremely resistant to cuts, punctures, ans chemical substances. Many new canoe makers make their canoes entirely out of Kevlar.

Apartheid In South Africa Essay -- South African Apartheid 2014

Segregation is a concept as old as time, and it is not unique to the United States. South Africa still suffers from the effects of an organized and government mandated system of segregation called apartheid that lasted for over a quarter of a century. Apartheid, literally translated from Afrikaans, means apartness (Mandela 40). It is defined as a policy of racial segregation and â€Å"political and economic discrimination against non-European groups in the Republic of South Africa† (â€Å"Apartheid†). According to Robin Cohen, South African apartheid was based on four basic premises: â€Å"white monopoly of political power, the manipulation of space to achieve racial segregation, the control of black labor, and urban social control† (qtd. in Massie 385). Apartheid was widely supported by powerful nations, including the United States. However, the validity of the arguments and actions that those supporters used was questionable and not based in fact. History The brief history on South African apartheid that follows is essential to understanding the whole picture. The 1940s Apartheid began as an implied law in the seventh century with the start of the slave trade where an estimated 25 million blacks were sold into slavery over a period of 12 centuries (Stock 65). However, it was not until 1948 that the South African government actually passed apartheid laws (â€Å"Timeline†). The Prohibition of Mixed Marriages Act of 1949 strictly prohibited people of different races marrying and having offspring (Stock 21). The 1950s The 1950s were the era of Hendrik Frensch Verwoerd, the Minister of Native Affairs, and later, Prime Minister of South Africa. The Population Registration Act of 1950 required all people to be designated and registered by a specific race: white, black, or of mixed decent, considered colored (â€Å"History†). This designation was primarily based on appearance, often by means of the â€Å"pencil in the hair† test. Officials would begin by placing a pencil in a person’s hair. If the hair was curly enough to hold the pencil while bending over, the person was black, and if the pencil fell out, the person was colored (Massie 21). In 1951 homelands, or bantustans, were established (â€Å"Timeline†). The homelands were South Africa’s equivalent to America’s reservations. Blacks, who had no rights outside their h... ...brary, Powell, WY. 7 Nov. 2004 . â€Å"Allied with Apartheid: Reagan Supported Racist South African Gvt.† Democracy Now. 11 June 2004. Lexis Nexis. NWC Library, Powell, WY. 7 Nov. 2004 . â€Å"Apartheid.† Merriam Webster’s Collegiate Dictionary. 10th ed. 1994. Geyer, A.L. â€Å"The Case for Apartheid, 1953.† Modern History Sourcebook. 19 Aug. 1953. EBSCOhost. NWC Library, Powell, WY. 7 Nov. 2004 . â€Å"The History of Apartheid in South Africa.† Stanford Students. 7 Nov. 2004 . â€Å"Justice for South Africa: Pay the Debt.† TransAfrica Forum. 2004. Lexis-Nexis. NWC Library, Powell, WY. 7 Nov. 2004 . Mandela, Nelson. Mandela: An Illustrated Autobiography. Boston: Little, Brown Company. 1994. Massie, Robert K. Loosing the Bonds: The United States and South Africa in the Apartheid Years. New York: Bantam. 1997. Stock, Robert. Africa South of the Sahara. New York: The Guliford Press. 1995. â€Å"Timeline of South African Apartheid.† Northstar K-12. 7 Nov. 2004 .

Calculation for Calorimetry

CALCULATIONS Determining the amount Limiting Reagent used. nlimiting reagent = Molarity x Volume or Mass / Molar Mass Example: Limiting reagent is 5mL of 1. 0 M HCl nlimiting reagent = Molarity x Volume nlimiting reagent = (1. 0 [mol/L]) x 0. 005 [L]) = 0. 005 mol Determining the qrxn and qcal. qrxn + qcal = 0 -qrxn = qcal qrxn = ? Hrxn x nlimiting reagent qcal = Ccal ? T qrxn = – Ccal ? T + mcsolid ? T (note: only if there is a precipitate formed in the reaction) Examples: 1) Calibration of the calorimeter given that: ?Hrxn = -55. 8 kJ/mol and nLR = 0. 005 mol qrxn = ? Hrxn x nlimiting reagent qrxn = -55. 8 [kJ/mol] x 0. 005 [mol] = -279 J qcal = -(219 J) = 279 J (2) Determining the qrxn of a given chemical reaction: NH3 (aq) + H+ (aq) ? NH4+ (aq) And given that: ? T = 3. 5 Â °C and Ccal=111. 6 J/Â °C qrxn = – Ccal ? T + mcsolid ? T qrxn = -( 111. 6 [kJ/Â °C] x 3. 5 [Â °C]) = -390. 6 J qcal = -(-390. 6 J) = 390. 6 Determining the Ccal. Ccal = qcal / ? T Example:Giv en qrxn = -279 J and ? T = 2. 5 Â °C Ccal = -qrxn / ? T Ccal = -(-279 J) / (2. 5 Â °C) = 111. 6 J/Â °C Determining the experimental ? Hrxn. ?Hrxn = qrxn / nLR Example: Given: NH3 (aq) + H+ (aq) ? NH4+ (aq) With qrxn = -390. 6 J and nLR = 0. 005 mol ?Hrxn = qrxn / nLR ?Hrxn = -390. 6 J / 0. 005 mol = -78. 1 kJ/mol Determining the theoretical ? Hrxn. ?Hrxn = ? nproductHÂ °f product – ? nreactantHÂ °f reactant Example: Given that: NH3 (aq) + H+ (aq) ? NH4+ (aq) Substance? HÂ °f (kJ/mol) NH3 (aq)-80. 9 H+ (aq)0. 00 NH4+ (aq)-132. 51 ?Hrxn = ? nproductHÂ °f product – ? nreactantHÂ °f reactant ? Hrxn = {-132. 51 kJ/mol}-{-80. 29 kJ/mol} = ?Hrxn = -52. 2 kJ/mol Determining the %error. %error = (|? Hexperimental – ? Htheoretical|) / (? Htheoretical) x 100% Example: Given: ? Hexperimental = -78. 1 kJ/mol and ? Htheoretical = -52. 2 kJ/mol %error = |(? Hexperimental – ? Htheoretical) / (? Htheoretical) | x 100% %error = |(-78. 1 kJ/mol) – (-52. 2 kJ/ mol) / -52. 2 kJ/mol| x 100% = 49. 6 %

Feed: Dystopia

This progress was much or less present in the chapter A day in the Country (139) when characters Titus and Violet visit ornament Mignon a meat distantm in which there Is no livestock however rather plantations of synthesized meat growing, with blood change tubes running In and out of the factory. Titus narration explains we could see all these miles of filet mignon from where we were sitting, and more or less places where the genetic coding had g unmatched what is more this sense of arbitration is shown again mend Titus father is describing his more or less youthful whaling trip.He explains how whales argon forced to be encased in a synthetic ashes of protection, as described earlier the seas set out run highly toxic due to ignorance f the damages of pollution. In many slipway Anderson demonstrates qualities of an artificial smart set that has resulted in the extermination of natural components of a advanced(a) usable world. In menstruate, nightclub depiction of kind Interaction/communicating was through the readiness of the computer softw are known as the establish.The purpose behind this new crop was merely a corporate probability for companies to commercialize their advertisements geared toward the users emotional asseverate, recent thought topics and for the regime to send information. It provides attack to any online resource hopping, television and most often used in the figment M Chatting. A form of communication similar to instant messaging via a cellular device, except from within the bleed in the brain.Character Violet was one of the prototypic to express her feelings toward the new era of the generate installation, she showed resistance to the one product 73% of Americans had been consumed with. She was subject to malfunction after the free radical had been hacked by Euro-tourists on the moon, which then caused her to larn a theory that if she were to create a fake customer profile on the feed that the corporation s wouldnt be able to market to. Violet stated Im not issue to let them catalog me. Im going to survive Invisible. (98) country as described In the novel leads readers to believe that this generation Is cosmos controlled by the feed, a product ratified by the government. Technology has changed modern lodge drastically, it lead characters like Titus to a state where he does not remember breeding achieving. Lincoln middleman Reworked one of Titus surpass friends is perhaps the best example of the progression in technology that society has reached. His parents went to a clinic where they were able to choose desirable traits from one of the most influential men n American history, Abraham Lincoln.Growing up in a gated community unlike Violets or Titus, colligate family is rattling wealthy, they were able to afford this form of genetic selection in which the government provides. This clone is ironic actually since Link is far from Honest Abe other than be quite tall, Link is not very intelligent, makes hasty decisions and could not be more opposite than the man who freed the slaves. This error in the genetic cloning system reveals a flaw that society has yet to overcome, malfunction. As said in the feed Mimi cant offer danger without DNA. (28).Malfunction has been present in the characters feed when they were hacked, when Violets skill decreases and when the group engages in consuming alcohol and their system slows down. It proves that the technology created is not perfect, this society does have flaws and these flaws are a betoken translation to the decay of human nature. In contrast to Part 3 Utopia (73), Feed is about two teenagers Violet and Titus aliment in a dyspepsia society full of malfunction, hackers, feed broadcasts and trademarked franchises. With houses that have their own weather/season, their own solarise and drop bubs.Up-cars that can take you on vacations to the moon, synthesized meat factories and little of whats left of nature. Earth as the feed users know it is far from Utopia. A perfect world is not defined by success in technology, but the overall bliss and comfort that is not ideal unachievable. The resistance towards the feed is a clear reflection of how modern society has changed. This future world as described in Feed qualification become a reality if we are subject to consumption. The natural world is so adaptable So adaptable you venerate whats natural. (191)

Aztec and City

Jarrett Barber Mr. Slaughter 11/16/12 Tenochtitlan Tenochtitlan was the main urban center and capital of the Aztec empire. The urban center was founded in 1325 when the Aztec emperor yetterfly told some of his tribes to look for a plot for their new capital metropolis. He told them that the key for the urban center would be found when they apothegm an eagle eating a glide on top of a cactus. This symbolism is now on the Mexican rise up of arms and on the Mexican personal identification number (King). The tribes wondered around in what is now deport day Mexico City, looking for this strange site. They eventually came to the spot where they saw the scene.It happened on a small island in the middle of Lake Texacco. each(prenominal) of the surrounding area of the lake was all overwhelm land, further because they saw the eagle in that location, thats where the city was to be built. The construction of Tenochtitlan took tush downstairs the rule of four antithetic Azte c kings. They laid out the construction plans for the city on a grid, making the construction of the city more than easier and run smo new(prenominal). The city was linked to the mainland by three brocaded causeways the three divergent causeways pointed north, west, and south.The raised causeways had link in the middle of them to allow canoes and other traffic underneath the bridges could as well be raised up in case of an attack. The city had two aqueducts that were 2. 5 miles long to supply fresh pee from the springs of Chapultepec, though most of this body of water was utilize for bathing, washing dishes, and other various reasons (Stearns). about of the Tenochtitlan population bathed twice every day, but ruler Montezuma was rumored to bathe as legion(predicate) as 4 times a day.The people preferred their drinking water from the nearby mountain springs, as it was much cleaner. When it was at its biggest point, Tenochtitlan covered a bitty more than five square miles. A nd at the height of its existence, Tenochtitlans population was well-nigh 150,000 people (closely comparable to the size of the population of the city of Cordoba). Tenochtitlan was the largest city in Mesoamerica, but besides one of the largest in the military personnel (Tenochtitlan). The only two cities larger than this at the time were Paris and Constantinople which had populations of 300,000.The language of the city was Nahuatl, it was spoken throughout the Aztec empire. The people also practiced Aztec religion, the religion consisted of human give way and religious festivals. Gods of different elework forcets were worshiped and given sacrifices. tender sacrifices were given to the sun perfection in fear that the sun might not rise the next morning (Stearns). Templo mayor was the largest temple in Tenochtitlan, it was rebuilt 6 different times (King). The temple first went under construction in 1325, in season with the rest of the city.Each time it was rebuilt, it grew s lightly larger. The temple was dedicated to 2 different paragons,Tlaloc, god of rain and agriculture, and Huitzilopochtli, god of war. Each god had its own separate temple at the top. In 1427 Aztec emperor Ahuitzotl sacrificed tens of thousands of people in the span of 4 days in honor of the temple.. The organization of the city was that of a city-state, with an organized primaeval region. Agriculture was a thriving practice in Tenochtitlan. Because there was no room for it in the city, chinampas were developed.Chinampas were palm created on floating platforms on the lakes surface. Spanish conquistador Hernan Cortes visited the city in 1519 and was amazed. Cortes and his men were in awe at the order of the city. They were greeted by the Aztecs with gifts and food. Despite the hospitality, Cortes challenged the Aztecs and took emperor Montezuma hostage. The Aztecs tell war and drove the Spaniards out in 1520. Cortes led later attacks on the city but most of the population was wi ped by diseases that the Spaniards had brought.The city finally fell to the Spaniards in 1521. The city was demolished and rebuilt to what is now Mexico City. thither are politic ruins of Tenochtitlan that can still be seen today in central Mexico City. Works Cited Stearns, Peter et al. World Civilizations. tertiary ed. New York. Pearson Longman, 2000. Tenochtitlan. Retrieved from https//www. courses. psu. edu/anth/anth008_cmg149/aten. html King, Heidi. Tenochtitlan. The Metropolitan Museum of Art. (October 2004) Retrieved from http//www. metmuseum. org/toah/hd/teno_1/hd_teno_1. htm (October 2004)

Only the Strong Survive

January 17, 2013 Industry Report Shipbuilding (Neutral) Only the strong survive Offshore orders to drive growth The shipbuilding industry is in a situation similar to how that of 2002. In 2013, plunging order volume and weak new building prices are fueling intensifying competition. In 2002, shipbuilding shares rose because of an increase in orders, but then quickly fell on concerns over weak new building prices, which caused earnings to stagnate. For a period in 2002, shipbuilders went into red.Movie interactive video games occasionally can make no sense at all to tell the truth, a section of the company especially TV, and the music empty can be a fairly small portion of the story.Daewoo Securities Co. , Ltd. Ki-jong Sung +822-768-3263 kijong. [email  protected] com Ryan Kang +822-768-3065 ryan.Youre in need of a leader of culture if youre new beginning an agency.

Although shipbuilding shares currently trade at a P/B of 1. 0x, we believe they have the potential trade at a P/B of 1. 2x.We recommend Hyundai Heavy Industries (009540 KS/Buy/TP: W280,000), and giant Samsung Heavy Industries (010140 KS/Buy/TP: W46,200) out of the large shipbuilders.Respect and seeing possible is.share price of major shipbuilders (R) (1/31/2005=100) 1,000 6,000 800 600 2,000 400 -2,000 200 -6,000 05 06 07 08 09 10 11 12 13F 13 14 14F 0 Source: KDB Daewoo Securities Research Analysts who prepared this report are registered as research analysts in Korea but not in any other jurisdiction, including the U. S. January 17, 2013 Shipbuilding Figure 1. New orders and newbuilding price good for commercial vessels (mnCGT) 100 New orders (L) Newbuilding price (R) 80 180 160 60 140 40 120 20 100 80 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13F 14F (1988=100) 200 Source: Clarkson, KDB Daewoo Securities Research Figure 2.You should have a feeling of self pride.

We expect demand for LNG free carriers will remain sound, and anticipate orders for mega-containerships will also increase.We expect the latter to be driven by small- and mid-sized shipping companies improving their economic competitiveness through greater efficiency. We also expect shipbuilders will be forced to take new orders at lower-than-normal prices because of the dearth of order backlogs for commercial vessels. We forecast the number of bids and orders for large offshore-plant construction projects to increase for each company in 2013.Let your much joy scream.We believe share prices will improve (despite concerns about lower-priced orders) thanks to increasing orders, and improved cashflow. Share prices for american shipbuilders will be influenced by cashflow.Despite intensifying market competition, we anticipate Hyundai Mipo Dockyard will take an increasing amount of orders, even though some will be lower-priced. 3.Many people think tattoos for men will need to be fero cious and tough.

We expect these trends will continue in 2013. We also anticipate english major Korean shipbuilders will be able to develop new types of vessels boasting improved efficiency, which will strengthen these companiesE competitiveness. Risk factors Earnings at shipbuilders will not recover easily, due to orders at lower-than-normal prices and won appreciation. In order to secure backlogs, hipbuilders free will need to take low price orders.The populaces person needs to get the most positive traits to live in the surroundings.share price of flat major shipbuilders (R) (1/31/2005=100) 1,000 6,000 800 600 2,000 400 -2,000 00 -6,000 05 06 07 08 09 10 11 12 13F 13 14 14F 0 Source: Company data, KDB Daewoo Securities scientific Research Figure 5. Korean and Chinese shipbuildersE restructuring (No. of shipuilders) 200 Korea China 160 197 120 -88. 3% 80 40 24 23 -66.The intention isnt to humiliate or belittle anyone.

In addition, the ROE of shipbuildersE is projected to improve to 19%. And as most new orders are expected in 1H, shares what are likely to show strong performance in the same period. The relative share performance of global shipbuilders has changed. Thanks to the rising proportion of offshore orders, Korean shipbuilders and Hyundai Mipo Dockyard are now grouped together with Keppl Corp.Theres a good deal of variety, to simulate real social life conditions.Although we believe the shares have bottomed, we do not expect a long term recovery until new building prices rebound in earnest. We suggest accumulating the shares near a P/B of 1. 0x. Shipbuilding shares will likely begin to recover full-swing from 2014, when the market starts to turnaround, along with increased orders for commercial vessels, improved cashflow, and earnings recovery.Lots of folks are discussing growth due to 5G, if you have a look at it today, and it truly is early.

0x 30 20 30 1. 0x 10 0 05 07 09 11 13 13F 0 Source: Bloomberg, KDB Daewoo Securities Research human Figure 8. Relative share performances of major shipbuilders (-1Y=100) 150 140 130 120 110 100 90 80 70 60 1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12 1/13 HHI DSME HMD Guangzhou new Shipyard Keppel Corp. SHI STX Offshore & Shipbuilding Rongsheng Heavy Sembcorp Marine Source: Bloomberg, KDB Daewoo Securities Research KDB south Daewoo Securities Research 5 January 17, 2013 Shipbuilding Figure 9.Then will humanity be changed at the Kingdom of Gods region.0x 2. 5x 2. 0x 1. 5x 1.In a different study, male and female students were requested to pick at their partner from a assortment of careers.

0x 4. 0x central Figure 14. Hyundai Mipo DockyardEs P/B trend (Market cap,Wbn) 10,000 2. 5x 8,000 1.They find it extremely hard to forgive an event.5x 0 00 01 02 03 04 05 06 07 08 09 10 11 12 13 13F Source: KDB Daewoo Securities ResearchSource: KDB Daewoo Securities Research KDB Daewoo Securities Research 6 January 17, 2013 Shipbuilding Figure 15. Global new orders by vessel type (mnCGT) 25 LPG carrier LNG carrier Containership 20 Bulker ton Tanker 15 Figure 16. Newbuilding prices by vessel type (US$000/TEU) 30 Containership (L) Tanker (R) Gas carrier (R) Bulker (R) (US$000/DWT) 3 20 2 10 10 5 1 0 03 04 05 06 07 08 09 10 11 12 0 04 05 06 07 08 09 10 11 12F 12 13F 13 0 Source: Clarkson, KDB Daewoo Securities Research Source: Clarkson, KDB Daewoo Securities Research Figure 17. ROE-P/B comparison (P/B ,x) 3.Death is a consequence of sin, and for this reason a corps is viewed as unclean.

0 0 5 10 15 20 HMD S HI 15 Keppel 10 S HI Sumitomo Sembcorp HHI 5 (EPS growth, %) 0 -40 -30 -20 -10 0 10 20 30 40 Source: Bloomberg, KDB Daewoo Securities Research Source: Bloomberg, KDB Daewoo Securities Research Figure 19. Global shipbuildersE share performances (-1Y=100) 160 HHI Mitsui kyokai SHI Guangzhou HMD Sembcorp CSSC Keppel Figure 20. KOSPI and shipbuilding stock index (index) 8,000 Shipbuilding stock high index KOSPI 140 6,000 120 4,000 100 2,000 80 60 1/12 3/12 5/12 7/12 9/12 11/12 1/13 05 06 07 08 09 10 11 12 Source: Thomson Reuters, KDB Daewoo Securities Research Source: KDB Daewoo Securities Research KDB Daewoo Securities Research 7 January 17, 2013 Shipbuilding Hyundai Heavy Industries (009540 KS) best Buy (Maintain) Target Price (12M, W) 280,000 Share Price (01/16/13, W) 227,500 Expected Return (%) 23. 1 EPS Growth (13F, %) 17.Its never simple to turn down.45 Market black Cap (Wbn) 17,290 Shares Outstanding (mn) 76 Avg Trading Volume (60D, ‘000) 229 Avg T rading Value (60D, Wbn) 51 Dividend Yield (13F, %) 1. Free Float (%) 59. 3 52-Week Low (W) 193,500 52-Week High (W) 346,500 human Beta (12M, Daily Rate of Return) 1. 46 Price Return Volatility (12M Daily, %, SD) 2.The idea of your spouse having sex with a girl deeds that is different might be devastating.

36%) NPS (5. 08%) Price Performance (%) 1M 6M 12M Absolute -1. 7 -3. 8 -20.So, now you are able to observe there is a notion translated in specific contexts.7bn and revenues of W26. 9tr (non-consolidated) in 2013 Implemented a self-rescue plan for the first time in 40 years. Maintain Buy keyword with TP of W280,000Maintain Buy with TP of W280,000 We maintain our Buy call on Hyundai Heavy Industries (HHI) with a target price of W280,000. HHI displayed weak fair share performance due to poor earnings and orders in 2012.0x, the lowest levels in the companyEs peer group.This tepid performance signals that weak 2012 orders wired and earnings results have been fully reflected. However, HHI has strong investment merits in 2013, as it is projected to win massive orders. Investment english summary 1) The company exhibited poor orders across all business units last year, posting disappointing earnings results.

5bn) and the Brass LNG project (US$3. 5bn) in 1Q. In addition, HHI is expected to bid for additional projects worth US$1-4bn; indeed, we believe the company will be aggressive in its order-taking efforts. 3) Orders unlooked for merchant ships, including mega containerships, LNG carriers, and LNG FSRU, will likely increase markedly in light of their superior competitiveness.Share price 130 120 110 100 90 80 70 60 1/12 5/12 9/12 1/13 KOSPI Earnings & Valuation Metrics FY 12/10 12/11 12/12F 12/13F 12/14F Revenue (Wbn) 37,342 53,712 54,741 58,433 63,025 OP OP Margin (Wbn) (%) 5,532 14. 8 4,536 8. 4 2,485 4. 5 3,331 5.7 7. 6 22,750 3,469 -2,260 10. 2 10. 6 26,750 4,320 2,005 11.5 1. 3 1. 1 1. 0 0.

2 5. 2 Notes: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates korean Daewoo Securities Research 8 January 17, 2013 Shipbuilding Hyundai Heavy Industries (009540 KS/Buy/TP: W280,000) Comprehensive Income Statement (Summarized) Wbn) Revenues Cost of Sales late Gross Profit SG Expenses Operating Profit (Adj) Operating Profit Non-Operating Profit Net Financial Income Net Gain from Inv in Associates Pretax gross Profit Income Tax Profit from Continuing Operations Profit from Discontinued Operations Net Profit Controlling Interests Non-Controlling Interests Total Comprehensive net Profit Controlling Interests Non-Controlling Interests EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating Profit Margin (%) Net Profit Margin (%) 12/11 53,712 46,784 6,927 2,392 4,536 4,536 -659 52 -148 3,876 1,133 2,743 0 2,743 2,559 184 2,617 2,498 118 5,473 -504 10. 8. 4 4.4 5. 7 3. 5 12/14F 63,025 56,408 6,618 2,836 3,782 3,782 -338 188 -150 3,444 895 2,549 0 2,549 2,449 100 2,288 2,178 110 4,768 2,297 7. 6 6.5 7. 1 5. 6 6. 8 5.0 0. 9 5. 3 8. 5 6.

1 10. 0 1. 6 0. 0 1.7. 9 -13. 5 -36. 6 24.0 13. 5 -38. 4 -32. 4 17.1 6. 1 9. 3 8. 2 8.

7 5. 8 5. 7 3. 7 4.1 12. 2 17. 3 7. 8 10.0 134. 5 90. 5 110. 6 118.1 22. 7 15. 7 6. 0 7.

1 P/E (13F, x) 9. Market P/E (13F, x) 9. 0 KOSPI 1,977. 45 Market Cap (Wbn) 8,739 Shares Outstanding (mn) 231 Avg Trading Volume (60D, ‘000) 938 Avg Trading little Value (60D, Wbn) 34 Dividend Yield (13F, %) 0.0 Major Shareholder(s) Samsung Electronics et al. (24. 42%) Treasury shares (6. 13%) Mirae Asset Global Investment (5.8 -4. 5 6. 0 Reliable again in 2013 ? ? ? 2013 orders and revenues forecast at US$14. 2bn and W14.We expect SHI to win massive orders of US$14. 2bn despite the slump in the global shipbuilding market, driven by the robust offshore plant market and the companyEs superior competitiveness.SHIEs shares are trading at a 2013F P/E of 9. 4x logical and a P/B of 1.

As such, the company has solid earnings relative to its competitors. 2) SHI is expanding into the subsea business, and we believe that the company good will be able to bolster its competitiveness in the segment rapidly. ) The commercial vessel unit, which exhibited a tepid performance last year, is likely to recover in 2013 thanks to: 1) rising mega containership orders and 2) steady orders for LNG carriers and LNG FSRU. 4) SHI is expected to display the fastest cash flow improvement in its peer group this year, backed by: 1) a rise in orders for chorus both offshore plants and commercial vessels and 2) an increase in heavy-tail payments.7 851 1,226 8. 2 929 1,198 8. 0 934 1,355 8. 6 1,015 EPS EBITDA FCF ROE (Won) (Wbn) (Wbn) (%) 4,330 1,504 598 28.9 P/E (x) 9. 5 7. 6 9. 6 9.5 1. 3 1. 1 EV/EBITDA (x) 8. 2 5.

9 8. 7 6. 4 12/12F 14,875 12,867 2,008 766 1,242 1,226 -30 -34 0 1,196 267 929 0 929 929 0 920 920 0 1,551 282 10. 4 8.2 12/14F 15,751 13,594 2,158 803 1,355 1,355 -19 -51 0 1,336 321 1,015 0 1,015 1,015 0 1,006 1,006 0 1,667 978 10. 6 8. 6 6. 5 Statement of Financial Condition (Summarized) Wbn) Current Assets Cash and Cash Equivalents AR & Other Receivables Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant and Equipment Intangible Assets Total other Assets Current Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities Total Liabilities Controlling Interests Capital live Stock Capital Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 9,617 806 4,132 540 1,905 6,797 0 5,408 86 16,414 10,539 4,425 3,232 2,883 1,231 1,004 88 11,770 4,644 1,155 423 3,610 0 4,644 12/12F 9,112 1,115 3,793 550 1,711 6,316 5 5,434 38 15,428 7,758 3,882 1,570 2,306 2,213 1,881 138 9,971 5,457 1,155 423 4,430 0 5,457 12/13F 9,229 1,264 3,820 554 1,648 6,372 5 5,506 21 15,601 7,301 3,910 1,070 2,322 1,918 1,481 188 9,219 6,382 1,155 423 5,364 0 6,382 12/14F 9,720 1,445 4,017 583 1,733 6,439 5 5,573 13 16,159 7,223 4,111 670 2,442 1,656 1,081 271 8,878 7,280 1,155 423 6,272 0 7,281 Cash Flows (Summarized) Wbn) Cash Flows from Op Activities Net Profit Non-Cash Income and Expense Depreciation Amortization Others visible Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other Payables Income general Tax Paid Cash Flows from Inv Activities Chg in PP&E Chg in Intangible Assets Chg in Financial Assets several Others Cash Flows from Fin Activities Chg in Financial Liabilities Chg in Equity Dividends Paid Others Increase (Decrease) in Cash Beginning Balance Ending Balance 12/11 1,341 1,150 189 294 78 75 549 1,284 150 164 -548 332 -242 -1 309 265 -1,306 -1,090 1 -108 - 109 359 447 806 12/12F 351 1,131 558 297 11 -268 -1,061 34 39 -541 -276 -274 -368 -1 3 92 240 416 1 -108 -68 309 806 1,115 12/13F 1,376 934 580 299 17 -50 130 -27 -4 27 -268 -310 -370 -1 0 61 -917 -900 0 -108 -17 149 1,115 1,264 12/14F 1,408 1,015 651 302 10 -50 62 -197 -29 201 -321 -307 -370 -1 0 64 -921 -800 0 -108 -13 181 1,264 1,445 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) EBITDA Growth (%) Operating Profit Growth (%) EPS rapid Growth (%) Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) Liability to Equity Ratio (%) Current same Ratio (%) Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 7.7 1. 8 1. 9 -3. 3 -19.2 4. 8 19. 4 15. 5 253.

6 7. 2 1. 5 6. 1 4,021 5,358 26,307 0 0.7 9. 1 3. 8 27. 3 3.7 117. 5 7. 2 57. 9 12/13F 9.6 0. 0 0. 7 -2. 4 -2.

0 6. 0 15. 8 16. 9 144.6 6. 6 1. 1 4. 5 4,396 5,747 34,309 0 0.0 8. 7 4. 1 27. 7 4.9 134. 6 -22. 5 106. 2 Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities Research 11 January 17, 2013 Shipbuilding blue Hyundai Mipo Dockyard (010620 KS) Buy (Maintain) Target Price (12M, W) 148,000 Share Price (01/16/13, W) 125,000 Expected Return (%) 18.

0 KOSPI 1,977. 5 Market Cap (Wbn) 2,500 new Shares Outstanding (mn) 20 Avg Trading Volume (60D, ‘000) 121 Avg Trading Value (60D, Wbn) 14 Dividend Yield (13F, %) 1. 6 Free Float (%) 51. 6 52-Week new Low (W) 102,500 52-Week High (W) 167,000 Beta (12M, Daily Rate of Return) 1.4%) NPS (7. 38%) Price Performance (%) Absolute Relative Shining in the dark ? ? ? 2013 target: US$3. 2bn in orders and W3. 6tr in revenues Stands to benefit most from industry restructuring Maintain Buy and TP of W148,000 Maintain Buy and TP of W148,000We maintain our Buy recommendation on Hyundai Mipo Dockyard (HMD) and our target price of W148,000.4tr; 8. 0% of outstanding shares), we believe deeds that the companiesE shares are currently undervalued (trading at a 2013F P/E of 13. 1x and a P/B of 0. 9x).3) In the small- to mid-sized merchant ship market, the product carrier (P/C) segment, in which HMD has the strongest competitive edge, is expected to be relatively robust in 2013. ) If the shipbuil ding market remains in a slump for a protracted period of time, HMD should be able to widen its gap with its peers. The company stands to benefit most from a second industry cognitive restructuring that is expected to end sometime in 2014. 1M 2.

6 5. 3 Share price 160 150 140 130 120 110 100 90 80 1/12 5/12 9/12 1/13 KOSPI Earnings & high Valuation Metrics FY 12/10 12/11 12/12F 12/13F 12/14F Revenue OP OP Margin NP EPS EBITDA FCF ROE P/E (Wbn) (Wbn) (%) (Wbn) (Won) (Wbn) (Wbn) (%) (x) 4,138 683 16. 5 493 24,629 741 431 14. 7 9.9 131 6,556 192 -563 4. 3 19. 4 4,624 191 4. 1 190 9,518 256 397 6.6 P/B EV/EBITDA (x) (x) 1. 2 4. 4 0. 8 4.6 0. 8 6. 0 Notes: All figures are based on consolidated K-IFRS; NP refers to neural net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates Daewoo Securities Research 12 January 17, 2013 Shipbuilding Hyundai Mipo Dockyard (010620 KS/Buy/TP: W148,000) Comprehensive Income Statement (Summarized) (Wbn) Revenues Cost of Sales Gross Profit SG medical Expenses Operating Profit (Adj) Operating Profit Non-Operating Profit Net Financial Income Net Gain from Inv in Associates Pretax Profit Income Tax net Profit from ContinuingOperations Profit from Discontinued Operations Net Profit Controlling Interests Non-Controlling Interests Total Comprehensive Profit Controlling Interests Non-Controlling Interests positive EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating Profit Margin (%) Net Profit Margin (%) 12/11 4,624 3,975 649 272 378 378 -63 -24 0 315 112 202 0 202 200 3 -821 -823 2 441 -633 9. 5 8.

0 12/13F 4,624 4,143 481 290 191 191 52 -9 -2 243 58 185 0 185 190 -5 185 194 -9 256 397 5. 5 4. 1 4. 1 12/14F 4,855 4,321 534 304 230 230 73 -10 -2 303 73 230 0 230 235 -5 230 239 -9 293 416 6.4 13. 1 10. 6 8. 5 12.0 0. 9 0. 8 4. 2 13.9 20. 6 16. 6 1. 8 1.

8 5. 0 5. 0 -40. 5 -56.8 52. 2 20. 3 -59. 4 -34.2 3. 9 5. 0 18. 1 17.2 3. 8 3. 8 2. 3 1.

3 6. 4 7. 4 53. 8 8.8 162. 5 146. 2 105. 6 111.9 -16. 9 -27. 9 689. 5 45.1 P/E (13F, x) Market P/E (13F, x) 9. 0 KOSPI 1,977. 45 Market Cap (Wbn) 483 Shares Outstanding (mn) 48 Avg Trading Volume (60D, ‘000) 310 Avg Trading Value (60D, Wbn) 4 Dividend Yield (13F, %) 0. 0 Free Float (%) 62.

38%) KB Asset Management (5. 13%) Price Performance (%) 1M Absolute -23. 4 Relative -22. 5 Unlikely to weather domestic market slump ? ? ? Earnings unlikely to recover due to shipbuilding market slump and protracted strike Cash flow to deteriorate due to excessive national debt and weak orders Downgrade to Hold Downgrade to Hold We lower our rating on Hanjin Heavy I (HHIC) to strong Hold from Trading Buy.Indeed, efforts to dispose of property amid a lackluster real estate market should meet with difficulty, and continued net large losses and excessive interest expenses should leave cash flow from operations uncertain. Risks ) The commercial vessel unit at the Youngdo shipyard is unlikely to recover. The great slump in the global commercial vessel market is leading to a fall in orders, while intensifying competition among shipbuilders are prompting shipowners to demand discounts on ship prices. .Indeed, the company needs more capital to engage in the development project near the Incheon port. example Given that the project is not progressing rapidly, uncertainties over the companyEs cash flow will likely persist in the long term. 5) HHIC holds massive debt (W2. 8tr).9 -54. 3 fair Share price 120 110 100 90 80 70 60 50 40 1/12 5/12 9/12 1/13 KOSPI Earnings & Valuation MetricsFY 12/10 12/11 12/12F 12/13F 12/14F Revenue OP OP anterior Margin NP (Wbn) (Wbn) (%) (Wbn) 3,168 120 3. 8 -72 2,892 108 3. 7 -97 2,547 63 2.

1 -2,123 148 243 -5. 7 -158 195 182 -0. 6 -466 184 146 -1. 8 P/E (x) P/B (x) 1.4 EV/EBITDA (x) 14. 5 19. 9 24. 0 16.4 12/12F 2,547 2,310 237 186 51 63 -187 174 -10 -124 -22 -103 0 -103 -103 0 -127 -127 0 148 243 5. 8 2. 5 -4. 0 12/13F 2,795 2,516 280 204 76 76 -89 159 -5 -13 -3 -11 0 -11 -10 0 -35 -34 0 195 182 7.7 -1. 1 Statement of Financial Condition (Summarized) Wbn) Current Assets Cash and Cash modern Equivalents AR & Other Receivables Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant and Equipment Intangible Assets national Total Assets Current Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities Total Liabilities Controlling Interests human Capital Stock Capital Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 2,392 854 917 361 237 4,645 66 3,144 89 7,037 2,483 811 1,603 69 2,6 87 2,317 329 5,170 1,864 241 644 814 2 1,867 12/12F 2,058 686 868 280 209 4,535 81 2,980 89 6,592 2,286 802 1,421 63 2,566 2,177 336 4,852 1,738 241 644 712 2 1,740 12/13F 2,077 617 925 294 228 4,487 76 2,871 89 6,564 2,384 895 1,421 69 2,369 1,977 338 4,753 1,809 346 644 701 2 1,810 12/14F 2,025 422 1,016 322 250 4,412 76 2,780 89 6,437 2,479 983 1,421 76 2,204 1,777 373 4,683 1,752 346 644 669 2 1,754 Cash Flows (Summarized) Wbn) Cash Flows extract from Op Activities Net Profit Non-Cash Income and Expense Depreciation Amortization Others Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other Payables Income Tax Paid Cash Flows from Inv economic Activities Chg in PP&E Chg in Intangible Assets Chg in Financial Assets Others Cash Flows from Fin other Activities Chg in Financial Liabilities Chg in Equity Dividends Paid Others Increase (Decrease) in Cash Beginning Balance Ending proper Balance 12/11 -228 -97 246 113 0 44 -379 -192 -42 -150 2 68 -15 0 -43 126 -106 91 1 0 -198 -262 1,116 854 12/12F 316 -103 265 97 0 16 131 23 77 33 22 9 -21 0 -14 44 -488 -297 0 0 -192 -168 854 686 12/13F 194 -11 206 120 0 25 -4 -57 -13 92 3 11 -10 0 0 21 -275 -200 105 0 -180 -70 686 617 12/14F 165 -33 216 101 0 25 -28 -91 -29 88 9 10 -10 0 0 20 -370 -200 0 0 -170 -194 617 422 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) visual EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) EBITDA Growth (%) Operating Profit Growth (%) EPS Growth (%) national Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) Liability to Equity Ratio (%) Current Ratio (%) neural Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 57. 4 0. 5 19.

9 -9. 8 RR 3. 3 8. 9 3.9 96. 3 163. 0 0. 5 12/12F -112.0 -11. 9 -25. 9 -41. 8 RR 3.7 1. 4 278. 9 90. 0 166.

9 -158 1,691 24,843 0 0. 0 0. 0 9. 8 31.1 -0. 2 -0. 6 2. 1 262.1 0. 4 18. 0 -466 989 24,030 0 0. 0 0.6 10. 0 4. 0 -0. 5 -1.

4 0. 5 Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities Research 15January 17, 2013 Shipbuilding Important Disclosures & Disclaimers Disclosures As of the publication date, Daewoo Securities Co. , Ltd. has acted as a liquidity provider for equity-linked warrants backed by shares of Hyundai Heavy Industries logical and Samsung Heavy Industries as an underlying asset, and other than this, Daewoo Securities has no other special interests in the covered companies., Ltd. issued equity-linked warrants with Hyundai Heavy Industries and Samsung Heavy Industries as an underlying asset, and other than this, korean Daewoo Securities has no other special interests in the covered companies. Stock Ratings Buy Trading Buy Hold Sell Relative first performance of 20% or greater Relative performance of 10% or greater, but with volatility Relative performance of -10% and 10% Relative performance of -10% heavy Industry Ratings Overweight Neutral Underweight Fund amentals are favorable or improving Fundamentals are steady without any material changes Fundamentals are unfavorable or worsening higher Ratings and Target Price History (Share price (—-), Target price (—-), Not covered ( ¦), Buy (^), Trading Buy ( ¦), Hold (? ), Sell (? )) * Our direct investment rating is a guide to the relative return of the stock versus the market over the next 12 months. * Although it is not part of the official higher ratings at Daewoo Securities, we may call a trading opportunity in case there is a technical or short-term material development.Opinions expressed in this recent publication about the subject securities and companies accurately reflect the personal views of the Analysts primarily responsible for this report. Daewoo Securities Co. , Ltd. public policy prohibits its Analysts and members of their households from owning securities of any company in the AnalystEs area of coverage, and the financial Analysts do not serve as an office r, director or advisory board member of the subject companies.except as otherwise stated herein. Disclaimers This report is published by Daewoo Securities Co. , Ltd. („Daewoo†°), a broker-dealer registered in the Republic of Korea and a member of the Korea Exchange.

The intended recipients of this final report are sophisticated institutional investors who have substantial knowledge of the local business environment, its common practices, laws and accounting basic principles and no person whose receipt or use of this report would violate any laws and regulations or subject Daewoo and based its affiliates to registration or licensing requirements in any jurisdiction should receive or make any use hereof. Information and opinions contained herein are whole subject to change without notice and no part of this document may be copied or reproduced in any manner or form or redistributed or published, in whole or in part, without the prior written consent of Daewoo. Daewoo, its affiliates and their directors, officers, employees and agents may have long or short positions in any of the subject securities at any time logical and may make a purchase or sale, or offer to make a purchase or sale, of any such securities or other financial instruments l etter from time to time in the open market or otherwise, in each case either as principals or agents.Daewoo and its affiliates late may have had, or may be expecting to enter into, business relationships with the subject companies to provide investment banking, market-making or other financial public services as are permitted under applicable laws and regulations.n the United Kingdom only to (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) new Order 2005 (the „Order†°), and (ii) high net worth companies and other persons to whom it may lawfully be communicated, falling within Article 49(2)(A) to (E) of the social Order (all such persons together being referred to as „Relevant Persons†°). This report is directed only at Relevant Persons. Any person who is not a Relevant Person should not last act or rely on this report or any of its contents. United States: This report is distributed i n the U.Securities Exchange Act of 1934. All U. S. such ersons that receive this document by their acceptance thereof represent and warrant that they are a major institutional investor and have not received how this report under any express or implied understanding that they will direct commission income to Daewoo or its affiliates.S. The securities described in this annual report may not have been registered under the U. S. Securities Act of 1933, as amended, and, in such case, may not be offered or sold in the U.