Saturday, August 31, 2019

Joseph Heller’s Catch 22 and Joan Littlewood’s Oh! What a Lovely War Essay

Compare the ways in which figures of authority are portrayed in Joseph Heller’s Catch 22 and Joan Littlewood’s Oh! What a Lovely War. Both Catch 22 and Oh! What a Lovely War are satirical comedies looking at the absurdity and tragedy of war. Being satires, they serve to expose the flaws in wartime situations and in doing so often develop criticisms of authoritative figures. Both texts approach the portrayal of authority in slightly different ways; being a play, Oh! What a Lovely War has a lot more scope for portraying its characters visually and aurally, whereas Catch 22 must work within its boundaries as a novel. Both texts employ humour to portray characters of authority; whereas Littlewood’s play is more focused on dark humour, Heller uses his own brand of absurd irony throughout the novel – this humour is central to most techniques used in both pieces of literature. Both texts were written in the 1960’s, (Catch 22 was published in 1961 whilst Littlewood’s play was performed two years later) an era synonymous with the development of youth culture and radical change. Although Catch 22 was initially snubbed by many of its critics, the novel found its readership amongst the emerging generation of men and women who were fiercely opposed to the Vietnam war. Littlewood did not face the same hostility in 1963 when Oh! What a Lovely War was first shown to the public. Performed by the Theatre Workshop – a company she had co-created – the play was warmly received by the audience and critics alike. Despite their different reactions, both texts were on the cutting edge of anti-war sentiment and continue to be modern classics. Although the texts focus on different wars and different perspectives (Littlewood’s play explores World War One from a primarily British perspective and Heller’s novel is an American outlook on World War Two) their main themes are similar. Both texts are exploring the tragedy of war, the utter absurdity of it, the thirst for power and money war brings, and the ignorance of authoritative organisations. Figures of authority are numerous in both pieces, and do not only include the upper ranks (such as Generals, Field Marshalls and Colonels) but also the representations of business and religious organisations, for they too can be viewed as having ‘authoritative’ roles in society, especially in wartime. One technique used by both authors is a demonstration of the lack of communication between commanding powers. Littlewood’s portrayal of the allied army leaders is very effective in signalling how inefficient they are at communicating with one another. The French General Lanzerac and British Field Marshall ‘French’ do not even speak the same language, and French’s unwillingness to do so reveals the total futility and worthlessness of their meeting: Aide: Do you think I ought to organise an †¦ interpreter? French: Don’t be ridiculous Wilson; the essential problem at the moment is †¦ the utmost secrecy.(p21) In this scene the obsession with secrecy over commonsense negotiations shows us how inefficient the allied army authorities are, and the analogy of the different languages spoken serves to demonstrate the complete lack of communication amongst authoritative powers that hold the fate of thousands in their hands. In the same way, Catch 22 looks at the problem of communication within the upper ranks. The call General Peckam receives from Ex P.C Wintergreen – the sole words being ‘T.S. Elliot'(sic) – has no hidden meaning but is interpreted in an absurd way; â€Å"Perhaps it’s a new code or something, like the colors of the day. Why don’t you check with Communications and see if it’s a new code or something or the colors of the day?† (p45). This sentence also shows us some insight into General Peckam’s intellect, which doesn’t seem to be substantial – demonstrated by the repetition and imprecision of speech. Another example of these communicative difficulties is the case of Major Major who receives documents to sign, which have his signature already. The squabbling within the upper ranks is evident in both texts and serves to show us the pettiness and idiocy of figures of authority. There are many instances in Catch 22 where the Generals are engaged in sneaky tricks against one another. General Dreedle’s hatred of his son-in-law Colonel Moodus for example, inspires him to keep a beautiful nurse just to torment him with, and the ‘Great Loyalty Oath Crusade’1 is started by Captain Black in an attempt to avenge himself on Major Major (who gained the promotion Captain Black was waiting for). Similarly in Oh! What a Lovely War, the Belgian, British and French army officials are at odds with one another. The Belgian army are in a sorry state, the French are angry at the British, and the British refuse to believe they have any responsibility in the war; ‘We’re not here under any obligation’ French persists in telling Lanzerac. The heated discussion only ends when Lanzerac is offered a medal on behalf of the King of England. This gesture pleases the General, who ‘kisses French on both cheeks’ and leaves, suggesting that the upper ranks of the army are only interested in recognition and promotion. This is a very powerful notion in Catch 22, in which key characters such as Colonel Korn and Colonel Cathcart will do everything in their power to be promoted. Cathcart says of his ambition: â€Å"What else have we got to do? Everyone teaches us to aspire to higher things. A general is higher than a colonel and a colonel is higher than a lieutenant colonel. So we’re both aspiring† (p450). One of the most important aspects of both texts is how different the experience of war is for the upper ranks and the ordinary men. The inability of authoritative figures to understand the realities of war and their cruel, seemingly deliberate ignorance in many situations is demonstrated in a number of key scenes. An important example of this in Oh! What a Lovely War is on pages 50/51 where a commanding officer reveals his detachment from ordinary trench life, and his unawareness of the death that surrounds the men every day; â€Å"Ye Gods! What’s that?† he asks the Lieutenant upon encountering a German limb that holds up the parapet, immediately telling the men to get rid of it as soon as possible. The Sergeant’s response reveals how clueless those in authority are to the brutalities of war: â€Å"Heads, trunks, blood all over the place, and all he’s worried about is a damned leg†. This warped, uninformed sense of priority and general detachment is evident in Catch 22, especially within Colonel Cathcart’s storyline. Heller’s novel is jumbled chronologically, but one dependable indication of time is the number of missions the men are forced to fly under Cathcart’s orders, which steadily increases as the story progresses. What is simply a number for the colonel is a very real death threat to the men of his squadron, many of whom reach the target just as the missions increase. Cathcart raises them for purely selfish reasons – he hopes to gain recognition for his squadron’s record and receive a promotion. The Colonel’s constant cry of â€Å"Doesn’t he know there’s a war going on† when Yossarian refuses to fly further missions is one of Heller’s brilliant lines of absurd irony, as it relates directly to the figures of authority in the novel. They seem to be playing an insane game, unaware of how t heir actions affect the men – they themselves don’t realise they’re fighting a war. Other instances of differences between upper and lower rank men can be found in both texts. The final scene of Oh! What a Lovely War portrays the men as lambs to the slaughter at the order of their glory-obsessed officer, and we find them shouting â€Å"Baaa – baaa – baaa †¦Ã¢â‚¬ (p86) as they advance towards the guns. In Catch 22 the Colonels are amazed that the ordinary men worship the same God as them, and after the revelation from the Chaplain refuse to believe it saying â€Å"What nonsense!† â€Å"Does he expect us to believe that?† and â€Å"Chaplain, aren’t you stretching things a bit far now?†(p407). A noticeable aspect of both texts is the portrayal of other key figures of authority – primarily those of big business and religion. Where Littlewood is severely critical of both, Heller holds some sympathy for his character the Chaplain (a representation of religion). Common to both writers is a disgust toward capitalists who exploit war for their own commercial gain. The munitions manufacturers in Oh! What a Lovely War are introduced on stage as members of a shooting party, an ironic analogy highlighting the part they play in the destruction of so many young men. They discuss the ‘peace scares’ that threaten their income, and congratulate one another for their inhuman schemes in money making: Britain: German chappies were caught on their own barbed wire?†¦.Dashed clever. (p46) In the same way, the character Milo Minderbinder in Catch 22 exposes the lack of morals and boundaries capitalism creates in wartime. His collaboration with the enemy goes unnoticed due to his profit-making, and he even ends up bombing his own men and planes as part of a German contract; ‘If I can persuade the Germans to pay me a thousand dollars for every plane I shoot down, why shouldn’t I?'(p273) he tells Yossarian. The forces of religious belief in Littlewood’s play are greeted with hostility as tools for the war propaganda machine, who support the war effort rather than fighting for the rights of the soldiers; Chaplain: †¦ it is no longer a sin to labour for war on the Sabbath†¦the Chief Rabbi has absolved your Jewish brethren from abstaining from pork in the trenches. (p77) Religion is portrayed in a slightly more sympathetic light in Heller’s novel. The Chaplain is the only character who really connects with Yossarian, and his efforts to help dissuade the Generals from raising the number of missions proves a real commitment and solidarity to the squadron. He is rejected from the Officer’s Hall and treated disrespectfully by the Colonels, showing us that even Christianity is powerless in the face of such frighteningly stubborn authority. Another key theme of both texts is the portrayal of war as a game, or as something frivolous and light-hearted by those in authority. The very form of Oh! What a Lovely War is as a musical show, with song and dance. Key song titles include ‘I’ll make a man out of you’ and the grand finale track ‘Oh it’s a lovely war’ which paints the text as a Broadway extravaganza rather than a harrowing look at battle. This technique is very effective in creating a bitter and attacking tone towards authoritative powers – especially considering the nature of the opening scene. In a circus like frenzy the MC brings on the players of the ‘war game’; France, Germany, Austria, Ireland, Great Britain and Russia. This structural difference between the play and Catch 22 means that Oh! What a Lovely War parodies authority more consistently. Littlewood constructed the play as a ‘show’, so the ability of characters in power to undermine the seriousness of war is endless. ‘The War Game’ is a classic example of this, as is the ‘grouse-shooting party’ which consists of munitions manufacturers from the key nations involved in war. Other techniques were available to Littlewood – lyrically bitter songs and the use of slides as an accompaniment to the speech, which both served as attacking forces against the power of authority in the play. Examples of this can be found in song titles such as ‘If the sergeant steals your rum’ and ironic lyrics like ‘with our old commander, safely in the rear’ in the hymn ‘Onward Christian Soldiers’. The use of slides and the ‘newspanel’ is used on many occasions as a reinforcement of the ignorance seen in authoritative men such as Haig: Newspanel: BY NOV 1916 †¦ TWO AND A HALF MILLION MEN KILLED ON WESTERN FRONT Haig: I thank you, God; the attack is a great success. (p78) They are also used comically to outline the stupidity of the Generals: British Admiral: †¦ Have you got a plan? British General: Of course. Slide 5: A blank British Admiral: Yes, I thought so. (p6) In a structural sense, the techniques available to Heller with which to parody authority are much more limited. In a novel, all character representations are formed with literary descriptions and cannot rely on visual or aural aids like a play. His technique of storytelling is not as varied or spectacular as Littlewoods, but the effects of his bizarre plots are as successful in criticising authoritative powers as the use of slides and song in Oh! What a Lovely War. Colonel Cathcart’s ‘bombing pattern’ is a sufficient example of this and bears comparison with the ‘War Game’ approach by Littlewood. Disregarding the fact that men are risking their lives on the insane bombardier missions they are forced to fly, Cathcart’s sole concern is whether their bombs create an aesthetically pleasing pattern from the air – ‘We didn’t get the bridge’ he tells Milo whilst recalling a previous mission, ‘but we did have a beautifu l bomb pattern. I remember General Peckam commenting on it’. (p†¦ The episodic form of both texts may disrupt the sense of progression, but it is noticeable that the tone of both pieces of literature changes as they near completion. The bitterness towards authority increases, and humour is more often interspersed with moments of seriousness and tragedy. In Act Two of Littlewood’s play, a moment of chaos reaches a serious climax with the juxtaposition of Haig and the British General’s telephone conversations against a background of men singing ‘They were only playing leapfrog’. The two men speak simultaneously in broken sentences until Haig’s final comment ‘No, you must reserve the artillery; we are using too many shells’ is uttered at the same time as the General’s last words, ‘Night has fallen. The clouds are gathering. The men are lost somewhere in no man’s land.’ This uncharacteristically sombre moment is shocking and serves to signpost the ignorance and inhumanity of Haig in times of crisis. In a similar way the absurd force of bureaucracy in Heller’s novel borders on seriousness when Don Daneeka is recorded as killed and remains dead due to the power of paperwork. His presence in the novel is a tragic reminder of the madness of war, and his character becomes a living ghost, ‘the sacks under his eyes turned hollow and black, and he padded through the shadows fruitlessly like an ubiquitous spook†¦then, only then, did he realize that, to all intents and purposes, he really was dead.’ (p366) The endings of both texts leave the reader with a slightly different outlook of authority and war. Whereas Oh! What a Lovely War finishes as it started, with a grand song in the traditional musical style, Catch 22 is much more subdued and understated. Both endings tell us something about the intention of the author, and of their opinion on the subject of war and authority. Littlewood wants to leave the audience feeling embittered and slightly outraged at the notion of the Great War as a show, in order to demonstrate the atrocities committed by those in authority against the ordinary men. The final songs ‘Chanson de Craonne’, ‘ I don’t want to be a Soldier’, ‘And when they ask us’, and ‘Oh it’s a lovely war’ express both comic elements (‘I’d rather stay at home †¦ and live off the earnings of a lady typist’) and the tragic undertones that run throughout the play (‘I don’t want a bayonet in my belly’). Although these final songs are more preoccupied with the tragedy and futility of warfare, their tone is still bitter towards commanding powers – such as the King and the Generals – who promised them a ‘lovely war’, and described the life of a soldier as the ‘cushiest job’ they would ever have. The cause of this great tragedy is clearly explained in Littlewood’s play as a direct result of the ignorance and greed of commanding powers, in particular the European Empires and Haig, along with his circle of title-seeking aristocrats. Within the play there are other specific objects of blame; firstly the British Generals, Field Marshall French, and the British Aristocracy. Other possible areas of criticism lie in the portrayal of religion, and of the capitalists who profited from the war. Oh! What a Lovely War is a text very much favouring the ordinary soldiers, all of whom are represented as decent, kind-hearted, and spirited young men. These soldiers are the victims of authoritative powers, they are the lambs going to slaughter, and the grouse at the shooting party. Littlewood is not vague or subtle in her attack of the commanding men, and portrays them as idiots, fat cats and cowards. She intends to show us that they were the main cause of madness in wartime, and that t hese men of authority should be held to blame for the destruction of a generation. The conclusion of Catch 22 is quite different, and ends with the spontaneous attempt by Yossarian to run away from the military base. Heller’s ending is a very interesting final act of defiance for his character, against the powers of authority in the novel. Despite having an easy route out of the air force – a simple but dishonest deal with Colonel Cathcart and Colonel Korn – Yossarian chooses to reject it. The presence of Nately’s whore at the very end of the novel, who unsuccessfully tries to stab him, is perhaps an indicator that Yossarian is making the right choice in escaping from the madness and corruption of ‘bureaucracy’ (the main authoritative force in Catch 22). The specific targeting of key characters is evident in Heller’s novel as it was in Oh! What a Lovely War, with the Colonels and Generals (Cathcart, Korn, Dreedle and Peckam among others) being the main hosts for criticism. However, I believe there is a difference between both texts regarding the role authoritative figures play in war. Whereas Littlewood shows us that the commanding men create the chaos due to their own callous stupidity, in Catch 22 the madness of war seems to be a character unto itself. Although the commanding officers are idiotic and dangerously selfish, this insane wartime logic affects most of the ordinary men – except for Yossarian and the Chaplain. A good example of this is near the end of the novel when Aarfy – one of the men in the squadron – rapes and kills a young girl. wYossarian’s utter horror when he discovers the scene is elevated further with the arrival of the police, who arrest him for being in Rome without a pass, completely ignoring the dead body on the pavement. Aarfy’s explanation ‘I hardly think they’re going to make too much of a fuss over one poor Italian servant girl, when so many thousands of lives are being lost every day’ seems to bear a lot of truth. The infuriating authority figures in this novel and the foolish stunts they are engaged in appear to be more a product of war madness than a cause of it. Therefore, although both texts portray figures of authority in similar ways, their intentions are fundamentally different. Littlewood blames the commanding individuals and glorifies the men who were sacrificed under ridiculous orders. Heller looks beyond these small but powerful characters to a greater evil – the madness of war and the insane chaos it creates in all; Colonels, Generals, Capitalists and even ordinary soldiers. 1 The Great Loyalty Oath Crusade was created to divert attention towards Captain Black and thus gain him a promotion – the men must swear an oath of allegiance ‘to get their pay from the finance officer†¦to have their hair cut by the barbers.’ (p125)

What is Substance Abuse Counseling

I am just starting to learn about the dynamics of substance abuse counseling. At this point, early on in my learning, I understand it to be a practice of advocacy to assist those persons with various levels of addiction in relation to drugs, alcohol and chemical dependency to a road of recovery. Substance abuse counseling identifies he source of the addiction through assessments and screening tools and offers solutions to the client.A substance abuse counselor's duty is to offer autonomy by giving advice and resources that will assist in getting clean, not to convince or to persuade them on which route to take in the road to recovery. Substance abuse counseling offers many levels of resources for recovery, in relations to addictions and illnesses that derive from or caused by the addiction, analyzing psycho and mental health, and referring them to appropriate professionals that can assist them tit the recovery process and helping them to understand how to get better.WHEN: Substance a buse counseling would be appropriate when a client indicates a need to recover from an addition or dependency. The counselor determines what course of action to take through a series of assessments and screening instruments. Counseling would be ideal as well for persons that are court-ordered to attend counseling. At this point, the courts have determined there Is an addiction or dependency issue that was derived from satellites that took place with the client prior to appointing this treatment.Counseling Is needed when a client asks for resources In relation to addiction recovery and other crawls that derive from addiction or dependency, such as family Issues, health Issues and challenges that affect the client's quality of life that were directly or Indirectly stemmed from the challenges of their addiction or dependency. A counselor would counsel because they have a desire to assist a client to recover from their addiction. My interest in assisting those with challenges of addicti on drives me to work hard to find solutions that will aid the client in recovery.Counseling is used as a tool of advocacy for clients that are in the recovery process. It has been a very effective avenue of treatment and is used because it helps to not only identify the source of the problem, but also how to recover from the problem, also to address the various areas that are connected to the root problem which is addiction. Counseling is beneficial, because of its wide scope that targets all areas of the clients problems. The referral service that counselors provide not only helps the problem, but also the other problems that derive from the core reason the client s there, which is the addiction or dependency.I'm sure there are things in this essay that may not be 100% correct when it comes down to the dynamics of counseling and â€Å"What it is†, â€Å"When we counsel† and â€Å"Why we counsel†. I believe I only have the minimal understanding of what substance abuse counseling is, but I am very determined to learn more and become fluent in its language, its debt of resources and how to effectively counsel someone. My goal is to be that bridge for someone that is addicted or dependent to a person that is completely recovered.I have high interest in this field because I have a desire to make a difference. I understand that I must continuously educate myself with knowledge in the field so that I can be the most effective resource for the client. I am learning that Counselors use a lot of tests, assessments and screening tools to determine the best course of action for the client. I think the most challenging portion of learning how to counsel is remembering what tool applies to what situation. I am sure as time progresses and I learn more about counseling and the dynamics of counseling, it will become more familiar.

Friday, August 30, 2019

Freaks and Geeks Paragraph

Lights, Camera, Music, Action A filmmaker needs to work extremely hard to create a piece with a strong story line, characterization, twists and a stupendous ending. How are these elements portrayed? Through the elements of media of course. In the pilot episode of â€Å"Freaks and Geeks,† it is undeniable that the use of lighting, music and camera manipulation are utilized to create pathos between the characters and the audience. Music evidently plays a grand part of setting the tone and emotion in a scene whether it is to heighten suspense, set a romantic mood or pick up the pace for an action scene.Prior to the ambush of the school bully Alan in the episode of â€Å"Freaks and Geeks,† the music slowed into a dramatic melody with heroic lyrics and an altogether â€Å"we are going into battle,† feel. This use of music is highly effective in relaying the sense of finality to the viewers, the geeks are finally going to stand up to the bully. It gives everything a ba ttle-ready atmosphere which is perfect for the before-the-fight mood.Furthermore, the use of different camera angles and distances plays a large part in creating sympathy or empathy between the viewer and character as seen when Sam struggles to ask his crush, Cindy out for the Homecoming Dance. The close-up on his face is used to allow viewers to clearly see the hesitancy in his gaze, the nervous way he bites his lip and the internal struggle to find courage and pursue his dream. Without being able to truly see his emotions, viewers would likely be less empathetic towards his cause and not root for him as strongly had the camera been so far as to not being able to see his face.Lastly, another important aspect of media elements that was used frequently throughout the episode is lighting. During the scene where Lindsay’s in Nick’s garage, the lights are dim and soft and the romantic, deep atmosphere is created. It was during this scene where Nick tells Lindsay about his dreams and his passion for drumming, the lighting creates a sense of endearment from the viewers because the lighting, plus the music, plus the camera shots all combine together to create this peaceful, cute moment that makes the viewers really want something romantic to happen.Therefore, lighting, music and camera manipulation are all used extensively throughout the episode to heighten emotion and create pathos between the characters and the viewers. Works Cited Paul Feig, S. W. (Writer), & Jake Kasdan, I. R. (Director). (1999). Pilot [Television series episode]. In Judd Apatow(Producer), Freaks and Geeks. California, USA: National Broadcasting Company.

Thursday, August 29, 2019

Case analysis Assignment Example | Topics and Well Written Essays - 500 words

Case analysis - Assignment Example The problems at the company started when Don Smith took over the firm. The biggest mistake that was made by the Mr. Smith when he acquired the company was that he did so through a highly leveraged transaction that drastically increased the long term debt of the company. A company that had a policy under the leadership of Blake of not mortgaging the opening of any new store became burdened by debt. A second issue at Friendly was conflicts of interest between TRC, Smith, and Friendly. Smith was both owners of TRC and Friendly. He approved a lot of dubious contracts including two shared costs programs of an Illinois office, where the company had no presence, and leasing agreement of a jet with TRC. There were also conflicts of interest in the board of directors which had some members that were dual board of directors of both companies. A third major issue at the firm was that its chairman was misusing company funds for personal expenses such as using the private jet for personal reasons . A fourth major issue at the firm was the lackluster financial performance of the company. The company lost over $30 million between 2005 and 2006. In 2007 the company achieved profits, but its net margin was a very thin at 0.9%. The net margin ratio measures the absolute profitability of a company (Peavler). A potential solution for the shareholders of the company is to sell off the shares of the company all at once. The problem with this solution is that a selling frenzy might further erode the price of the stocks driving it to become a penny stock. A second solution for the firm is to force the resignation of Don Smith. The problem with this solution is that his resignation would have to be forced by the board of directors and Smith has them on his pocket. A third solution is for the shareholders of the company to unite in the efforts of Sadar Biglari to turn around the company by getting two seats in

Wednesday, August 28, 2019

Politics - public policy Outline Example | Topics and Well Written Essays - 3000 words

Politics - public policy - Outline Example The third stage is characterized by the solving the problem is demanding both in terms of finance and in sacrificing our comfort. In some cases, the issue can be solved by advances in technology without sacrificing our comfort but in other cases, especially in social problem, such sacrifices may be necessary and this form part of the third stage. Realizing the cost of the solution to the problem leads to a gradual decline in public interest in solving the problem. This gradual decline which result from some member of the public feeling threatened by the cost of the solution, other becoming discouraged and yet others overcome by boredom, constitute the fourth stage in the cycle. The final stage in the cycle is characterized by lesser attention or occasional interest in the problem by the problem. For a social problem to pass through these five stages it must have three characteristics. In the first place, relatively only a numerical minority suffers from the problem. Second, a majorit y or powerful minority benefit from the existence of the problem. Third, the problem is intrinsically unexciting.

Tuesday, August 27, 2019

CORPORATE FINANCE Essay Example | Topics and Well Written Essays - 1500 words

CORPORATE FINANCE - Essay Example It had been generally assumed that there is an optimal mixture of debt and equity in a firm's capital structure that results in a shallow, U-shaped average cost-of-capital curve. That is to say, the market value of the firm will rise to a point with an increase in the debt ratio. Beyond that point, any increase in the debt ratio will cause the market value of the firm to decline. (Ariff and Lau, p. 391-410) Precisely, the traditional view states that capital structure may impact the cost of capital and in that way influence the value of a firm. It holds that the reasonable or rational use of leverage will decrease the total cost of capital primarily and therefore also add to value. When leverage turns out to be excessively high, beyond an optimal point, the cost of capital will begin to increase and hence the value will decline. There is no specific recognition of how to measure either a moderate or reasonable or optimal capital structure (Ariff and Hassan, p. 11). Some have accepted a moving average of historical capital structure; others have accepted an industry ratio. This concept is depicted through Figure 1 below: Although the traditional view appears to be substantially correct in relation to recognized real world behavior of capital structure, it suffers from lack of rigorous proof. ... b) The Independence Hypothesis: Modigliani and Miller (1958) Modigliani and miller 1were the first to develop a modern theory of capital structure supported by rigorous mathematical proof. The M&M (1958) theory is based on several simplifying assumptions: i. Perfect and frictionless capital markets with investors that behave rationally; ii. Individuals can borrow and lend at the same interest rate regardless the amounts; iii. No corporate or personal income taxes' iv. The firm's cost of equity depends upon its business risk class; v. Firms issue only risk-free debt and risk equity, and thus there are no bankruptcy costs; vi. Operating earnings of the firm are not expected to grow. The original M&M theory holds that the average cost of capital is independent of the firm's capital structure and equal to the capitalization rate of an unlevered stream of earnings at the capitalization rate appropriate to its risk class. As a result, the total market value of the firm is independent of its capital structure. Figure 2: Adopted from figure 5 Maugham, 2000, p.1 The original M&M result was obtained assuming perfect capital markets. Subsequent literature has relaxed the underlying assumptions of M&M's 1958 model. Stiglitz (1969) proved, using a state preference framework that the M&M result (1958) holds with risky debt, so long as there are no bankruptcy costs. Hamada (1969), using the CAMP, showed that the M&M result (1958) holds in a world where assets are allowed to have different risk classes. Mossin (1969), using a modified version of Sharpe's single-period asset valuation model, showed that in tax less, frictionless markets where there is no possibility that the firm will go bankrupt, changes in its debt-equity ratio will not alter the total market value of

Monday, August 26, 2019

Shange Essay Example | Topics and Well Written Essays - 750 words

Shange - Essay Example This is why Shan’ge was originally associated with agricultural work. The folk songs were always sung when people were working in the fields. This gave them morale to work harder (Titon 372). More importantly, the older societies like the jiu shehui sung the folk songs all through multifamily labor exchanges. This was principally during, hoeing, as well as, weeding corn, and a time they were sung while transplanting the rice shoots. The songs provided comfort for the workers. Additionally, the songs provided rhythm for the work, since some of the songs had counting off aspects which enable the farmers to have a certain rhythm while working. In history, the folksongs have also served a great deal in politics. This is especially in the 1910s and 1920s since they instilled solidarity and also helped in disseminating messages. This is because, by using familiar tunes, they were able to convey new words to the local people. Today, Shan’ge provides a window on historical experience and interaction of the people with the outside world. Despite the fact they are not as common as they were in ancient China, they play a huge role in enhancing heritage. Film music has impacted Chinese popular music in many ways. It is evident that the Chinese music provides the audience with utmost precedence to its melody (Titon 408). China is a country with a strong respect towards its forebears and ancestry and the film industry has enabled the people to uphold these aspects. It is therefore probable to find the film music of this kind of time still popular and known. For instance, the dragon dance and music is extremely familiar in the movie industry until today. There is an eminent root of film music in China. This is different from all other countries where the film music has no existing motifs or excerpts in the traditional aspects. This was not the case with China because the original music compositions emerging in films are growing till today. Popular music has grown intensively in china. Popular music started in the shidaiqu field and it was founded by Li Jinhui in China mainland. This popular music was highly influenced by Western jazz m usicians such as Buck Clayton. This was immediately after the implementation of the Communist Party. The popular music flourished greatly in Baak Doi, China where a record company was established. Cantopop was also influenced and this was in Hong Kong. Pop music in mainland China had been banned because it promoted unethical values which were against the communism values. However, the genre was revived in mainland China immediately after Deng Xiao Ping’s marketing reform. This is has influenced China's music diversity pop music combined with classical music. This is just like majority modern nations in the present day. Consequently China has grown to be one of the biggest producers of diverse music types while maintaining their traditional values (Titon 407-409). This is a traditional Chinese type of music and it utilizes the following instruments: daluo, bangu, tonngu, dabo and suona among others. Additionally, it is characterized by the following qualities. The music is sun g without reference to the notation by the musicians transferring it to the ensemble’s double-reed instrument. The melody is converted to vocal melody using grace notes. The music also has syllables that are compressed to feature into the percussion patterns (Titon 592). Beiguan musicians strive to consider each other as well as being inclusive in their performance activities. This is because of the fact that they usually see themselves as members of the same community association. The male members call each other

Sunday, August 25, 2019

Uk Company Law Directors Duties Essay Example | Topics and Well Written Essays - 2500 words

Uk Company Law Directors Duties - Essay Example Directors should primarily implement their duties in an ethical manner towards profit maximization, balanced against the requirement for corporate survival and to have consideration for the broader stakeholders of the company. In Re D Jan of London Ltd , it was observed that the duty of care which is to be demonstrated by a director of a company under common law is now enshrined in s.214 (4) of the Insolvency Act 2006. Under s.212 of the Insolvency Act 1986, the liquidator sued the erstwhile director D’ Jan for breach and negligence of duty. In this case , the director D’ Jan signed an insurance policy as the task of filling up and checking up the application had been entrusted with an insurance broker. The fact that D’ Jan had been a director in a company which went to liquidation earlier had not been disclosed in the application and due to which , the fire claim made by the company was rejected by the insurance company. In this case , Hoffmann L J found D’ Jan in breach of his duty of care as he failed to go through the filled-in form and hence , he acted negligently . In Bairstow v Queens Moat House Plc , Nelson J found the four erstwhile directors of the defendant company liable for over  £26 million as regards to earlier dividends authorised by them. Nelson J observed the following in this case; A director who had given his permission for the defrayment of illegal dividend in violation of his duty and as a quasi trustee , he would be accountable to return such unlawful dividends paid back to the company as he knew that the dividends so paid were not legally authorised whether or not that authentic knowledge tantamount to fraud; If he is already aware of the information about the improperness of such dividend payments despite the fact that he was not aware that such improperness made the payment illegal. If he ought to have taken in all the background to have familiarity to the whole of the background which made the payments not legal; If he ought to have been well-known, as diligent and logically capable director that dividend payments were not legal6. In Overend and Gurney Co v Gibb and Gibb7, in exercise of the power authorised under the company’s Memorandum and Articles of Association of the company, the directors decided to purchase a money dealing and bill broki ng business. Later, this investment was found to be disastrous for the company. House of Lords were of the opinion though the directors

Saturday, August 24, 2019

Promotion and Place Essay Example | Topics and Well Written Essays - 500 words

Promotion and Place - Essay Example the new outfit that’s all the rage, a purchase that will satisfy our safety needs by providing adequate clothing as well as our belonging needs by identifying us as belonging to a certain group and our esteem needs by providing us with a symbol of our current status in society. Using this theory, advertisers have learned how to capitalize on these needs to maximize their own sales. Examples of these ideas can best be illustrated by taking a look at two purchases made recently and the motivations for selecting the items and brands that were bought. The purchase of a computer might be considered by some to be a luxury purchase because it does not directly address any of Maslow’s needs. It does not feed us, clothe us, provide us with additional security or indicate we belong to any specific group. However, if I wanted to succeed in school, I needed to have a computer on which to do my homework and to help me study. This first purchase was a major purchase because it required me to spend a great deal of my savings on one item and therefore threatened my ability to meet some of my other needs, for instance, whether I would have enough money left over for groceries for the rest of the semester. That a computer was required for the successful completion of my academic career was, in part, the fulfillment of my safety needs because it will eventually provide me with the degree I need to obtain better employment and a secure future. The decision to buy an Apple computer was based on a series of television commercials that led m e to believe the Apple was a better purchase than a PC. These commercials feature two men representing each type of computer, each demonstrating different ways in which the Apple is better than the PC. By indicating that the Apple is less susceptible to spyware and computer breakdowns, these commercials appealed to my safety needs by indicating that my personal information would remain private and that my work would probably not get lost

Friday, August 23, 2019

Globalization and Canada. Globalization and free trade Essay

Globalization and Canada. Globalization and free trade - Essay Example Globalization of business and economies has changed societies in all countries and Canada is no exception. In fact, the term "global village" to denote the effect of globalization was coined by a Canadian journalist, Marshall MacLuhan at the dawn of the 21th century. Free flow of capital in and out of Canada, free trade and the existence of multinational companies have together linked Canada to the rest of the world's economies. In addition, Canada has become a part of continental integration through the North American Free Trade Agreement (NAFTA) that has already exposed the trading and business community of Canada to the United States. As a result of the interaction of a global business environment and a multicultural population, the Canadian society is undergoing a change that needs to be explored further. Besides, globalization has had an impact on the sovereignty and democracy of the country as Canada's economy as well as its culture has got integrated with that of the United St ates. In this paper, I will discuss the economic, social and cultural effects of globalization on Canada and propose a methodology for further questions.Inter-linkages between economies across different geographies have existed for centuries but it is only recently that the world has become truly integrated into a 'global village' rather than in a state of one group of countries exploiting the other. Capitalism and the Industrial Revolution had its roots in technological innovations like the power looms and railroads in Britain in the middle 19th century but it soon spread across Europe and North America, allowing for growth in commerce (Chirot, 2000). The modernization of the European and North American economies was aided to a large extent on the availability of raw materials (cotton from India in the case of Britain) and labor (African slaves for North America) from the colonies. By the advent of the 20th century, however, the limits of the capitalist development had been reached , leading to the Great Depression of the 1920s in North America and Europe (Giddens, 1986). The two World Wars changed the global economic power balance, with most of the colonies gaining independence over the period and Soviet Russia becoming more powerful and dissociated from the western powers. Post war reconstruction, growing urbanization and technology improvements revived the North American and European economies while Soviet Russia too developed technological capabilities. However, the world got bifurcated between the capitalist (mainly North America and Europe) and the socialist (mainly the USSR) camps while the Third World countries (the developing or underdeveloped nations, most typically erstwhile colonies of European powers) aligned themselves to either of the two camps. The 1950s saw a boom in the United States economy, much as a result of Fordist automation of industries and growth of consumerism, and US multinational companies endeavored to invest in other countries, the nearest neighbor, Canada, being the most convenient. However, in the 1960s and 1970s, even the capitalist economies, Canada being an important example, largely believed in economic sovereignty and foreign ownership was not seen as favorable (Smythe, 2001). The global economic order has significantly changed since the end of the Cold War in the late 1980s. As the divergence of the world between the two superpowers and their respective beneficiaries in the so-called Third World disappeared, the world has now become a 'global village' that is increasingly inter-linked for mutual benefits. The processes of production and consumption have undergone significant globalization, aided be the nearly free flow of capital and technology across political barriers. Over the years, multinational companies (MNCs) have ruled world business and governments have had limited roles to play. A survey by Institute for Policy Studies in 2000 found that the world's top 200