Why the Military Should Not Be Deployed on U.S.

There is also a high risk hat the troops themselves can get infected and a high possibility of the disease spreading even more. Lastly there is just not enough funding to send troops out onto our own soil. According to the Tim Make from the deathliest. Com American Soldiers preparing for deployment to West Africa are given just four hours of Bola- related training before leaving to combat the epidemic. Four hours of training is simply not enough time to learn about and understand the disease itself. A team of two can train as many as 50 personnel over that four-hour time frame, SEMIARID told The Daily Beast.If a single school teacher can barley each a class about a subject in math over a time period of a couple weeks how do we expect a team of two to fully teach and help a group of 50 troops to grasp the full concept of the risks of Bola and in that matter any other contagious disease. On The Common Sense Show, Dave Doges explains how President Beam's misguided decision to send 3,00 troops to Liberia to combat Bola virus may have put them all at risk for contracting the deadly disease. If the military were to assist with a pandemic outbreak here on CA. S soil, troops and their families would be at risk at contracting the disease.By doing this the military is no longer solving the problem they are just adding to the problem making the total number of infected people greater. In 191 8 the Spanish flu killed an estimated number of 675,000 Americans and about 20 million worldwide. According to the U. S Department of Health, the reason the death toll was so high in America was because of how many American troops contracted the disease while trying to combat it. Because history repeats itself, we should nit send out U. S troops to assist with an outbreak. Sending troops out would be very costly and would put us in more debt.Just sending out 3,00 troops to West Africa would cost the U. S over 750 million dollars, this is according to the Washington Post. The U. S is a lready 18 trillion dollars in debt and by sending troops out this would put us even further in the whole, something we will never be able to come out from. Money for the military is already being with held and spending money to combat something that will always exist is worthless. By spending money to deploy troops, we are taking away the possibility of buying new and up to date equipment needed to protect against both domestic and foreign invasions.U. S troops should not be given the responsibility of dealing with disease. They are not doctors, nor are they scientists and even with proper training and equipment there will always be a possibility of contracting the disease, which means further contamination of the American population. The military's purpose is to solve domestic and foreign issues that can potentially cause a threat to U. S citizens, not to combat disease. If we deploy troops onto our own soil then troops would be putting Americans lives in danger, which is a contrad iction to their soul purpose.

National V State Curriculum Essay

The issue of state vs. National curriculum has been raging for many years now with the Australian national government trying to force a national curriculum on all states and territories. However for this work all states and territories must agree on the curriculum and with so many different ways of teaching and how students have been taught in the past it was always going to be a difficult assignment. New South Wales, the leaders is assessments and with what they believe is a superior curriculum, have been the main fighters of the curriculum. New South Wales believe a national curriculum could work based around parts of their own curriculum as well as improvements in teaching development, management and mentoring. The implementation of an Australian national curriculum will mean huge changes to not only the New South Wales educational system but the educational systems of all states and territories. This will also mean a change in the New South Wales syllabus in order to make it fit with the national curriculum. As well as this it will not only will this impact on the education systems within Australia but will also mean a new requirement for teachers to teach at the level required to allow a national curriculum to work. New South Wales believe that the federal government is trying to lower the standard of education across the state in order to fit with the national curriculum. The New South Wales has long fought for the curriculum to be upgraded to fit with their syllabus so that when the nation does get brought to a certain level that level it is brought to is a high level of education giving everyone an opportunity at a better future as a whole. Not all the education departments agree or want the changes that will be brought in by a national curriculum. The New South Wales educational department are the main fighters of the implementation of the national curriculum. New South Wales believe the state curriculum they have in place alongside the HSC is more than adequate enough to suffice as a national curriculum for all states and territories. The development of the new national curriculum will mean changes to the New South Wales syllabus. This includes the introduction of mechanics back into the syllabus as well as the introduction of plants into the reproductive part of the syllabus. The latest version of the national curriculum from the Australian curriculum website shows step by step how the national curriculum looks to improve the standard of scientific knowledge taught across the country. It goes in depth to show how from year 1 right through to year 10 they will be building on skills learnt from previous years of science education. The latest version of the curriculum then goes on to tell of the more in depth science will be taught from years 7-10. This curriculum is able to show how the nation will be brought to the same standard of science knowledge through primary and secondary education. As well as this the Department of Education in the draft national curriculum for science (ACARA 2009) argue that although there will be new areas of study the curriculum will be more flexible for teachers allowing them to better teach the science curriculum. The draft curriculum also outlines 8 forms of considerations that will hopefully close the gap between indigenous, foreign and disadvantaged students. These considerations include Equity and Opportunity, Connections to other learning areas, Clarity of the curriculum, Breadth and depth of study, The role of digital technologies, The nature of the leaner (K-12), General capabilities and Cross-curriculum perspectives. The Department of Education are hoping that this will bring all students, schools and teachers up to a certain standard that this national curriculum will hopefully bring in. Bringing the students, schools and teachers up to a national standard will also hopefully make it easier for teachers to educate the students on topics and allow a bit more flexibility for the teachers in the classroom. The Australian national curriculum will also impact on the science pedagogy. Aubusson (Australian Journal of Education, 2011) believes that the curriculum will force one of two pedagogical situations. Aubusson believes the pedagogy will change to a standardising pedagogy or a pedagogy that will allow teachers to interpret the curriculum and teach it to their students in a way they will understand best. The standardising pedagogy could potentially lead to teachers being unable to form a connection with their students which could in turn cause students to become uninterested in the topics. This could potentially lead to a large amount of students failing the course. However a pedagogy which allows teachers to interpret the curriculum so they know which way will be the best to teach their students will allow connections to be formed, students to remain interested and engaged in their education and will lead to an increase in examination marks. This brings me to the teacher development issue with the national curriculum. Many teachers and education professionals in New South Wales oppose the change is due to the drastic development teachers will need to go through to allow the national changes to work. As sourced from the article ‘Mentors Reporting on Their Own Mentoring Practices’ (P. Hudson 2010) Hudson refers to his own personal experience of the failure of the last national curriculum. Hudson was a New South Wales school principal at the time tells of how he believes the failure can be partly blamed on the lack of development training offered to the teachers to allow them to teach the nation curriculum. New South Wales teachers and other teaching professionals believe that all Australian teachers need to go through development so that they are able to recognise the ways in which their students learn the best, this will enhance the students learning environment and allow them to work better as individuals and as a group. Teachers across Australia need to be able to understand and recognise the VARK learning system. The VARK learning system basically just asks the question of how students learn best. Whether they are, V – visual learners, A – auditory learners, R – reading and writing learners, or K – kinaesthetic learners. As well as being able to recognise this VARK concept and implement it in the classroom teachers will also need to be able to recognise when things aren’t going to plan so they can improve their own teaching skills and the learning environment of the student. This will require constant reflection on the teachers on behalf, they must regularly reflect on how the lessons have gone. Doing this will not only help the teacher improve of their work and how they teach the curriculum but it will also help their students better understand the knowledge put before them. This means that teacher development is a must for the national curriculum to succeed for a long period of time. New South Wales are leading the way with teacher development, understanding and practices for the national curriculum rollout. The Minister for Education Mr Piccoli has stated in the past the NSW government is allowing their schools time to adjust to the changes the new curriculum will bring is. The government for NSW is delaying the implementation of the curriculum to give NSW schools and teachers time to prepare for these changes as well as time to implement the preparations. On August 9, 2011 Mr Piccoli stated that the national curriculum will not be rolled out across NSW schools until 2014 with the preparation and planning for the national curriculum to commence around 2013. Management is a key actor in the success of the national curriculum. For the curriculum to work steps must be put in place to manage the introduction of the curriculum as well as the up keep of the curriculum changes. Early teacher or Preservice teachers will be benefitted by the fact that most of them will be starting their full time jobs around the same time the curriculum is rolled out allowing them to focus on the new curriculum and what needs to be done. However the older teachers might struggle at times to recognise where change is needed from the old curriculum to new, this is where the management side of things comes into play. As cited from the mentors report (Hudson, 2010) teachers must help and mentor each other. There will be this area of overlap where the preservice teachers will be able to help the older teachers understand the changes from the old to new curriculum whilst the older teachers are able to help the preservice teachers in understanding the way in which the classroom works and how to better understand how their students work. This management and mentoring role comes from within the staffroom of the school and head teachers and principals must work together to achieve this mentoring and management role. Another key way for this mentoring idea to work is for teachers to give feedback on each other to help them improve. Hudson believes a method of understanding personal attributes, system requirements, pedagogical knowledge and modelling are all helpful in giving and/or receiving feedback. If colleagues are able to give and receive positive and critical feedback well the standard of teaching will only improve. With the standard of teaching improving the curriculum will get taught better to students which will in turn mean an increase in examination marks causing the national curriculum to work and to stick. With a new curriculum coming into place new resources will be needed for teachers to educate their students whilst still keeping them engaged in the lesson. Not only will some new resources be needed but some of the older teacher’s resources could be irrelevant. This is where that teacher development will come into play again; teachers will need to recognise where new resources are needed, where older resources aren’t needed and where some are still relevant. Again this will require all the teachers to come together and help one and other with this dilemma and help share resources in order to give each student the same learning experience. However new sources will be readily available to teachers with many websites out there having new up to date information to show the children. There are also many sites out there with activities the teacher can do online with the class to keep them engage, there are also videos out there that contain the information required for the national curriculum to show the students as well. So although new resources will be needed there are still many places teachers can find resources to keep their students engaged. As a first year university student studying teaching in the New South Wales education system I believe a national curriculum is vital for the future education of our next generation. However I do believe New South Wales were right to fight for the curriculum to be brought up to their standard because if we are going to have every student at the same level of education it should be at the highest level possible to give every student the best opportunity possible to have a successful life after school. The national curriculum will work throughout the country as long as teacher development is put in place as well. Teachers need time to develop and adjust their own teaching techniques so they can best teach this new curriculum to their students. Teachers in all schools will need to work together for this national curriculum to succeed in our schools to give the next generation of young Australians the best chance at success.

Russians As the Others in 1920s and Early 1930s Hollywood Essay

Russians As the Others in 1920s and Early 1930s Hollywood - Essay Example The movie can be used as a symbol of the fate of Russians in Hollywood. It must first be understood that Russians had very limited success in Hollywood with the possible exception of Kirk Douglas whose parents were Russian Jewish immigrants. But this was because Douglas had no accent issues as he was trained at American Academy. However the rest of the actors of Russian descent had marginalized success in Hollywood as their accent forever sealed their fate and they were limited to either smaller side roles or at best character actors. They couldn't make it to the mainstream roles. Freaks (1932) is a sign of that fate. The movie is symbolic of what happened to those Russians who tried to enter the Hollywood. In this movie, the only Russian born actress, is the leading female character of Cleopatra played by immensely beautiful Olga Baclanova. Baclanova had arrived in USA with Moscow Theatre group. Her first love was stage and that is what she was doing when a role in Freaks was offered.

Business path way Essay Example | Topics and Well Written Essays - 1500 words

Business path way - Essay Example Income inequality may either benefit an economy or derail the economic growth. The extent to which income inequality negatively affects the economic growth is debatable. This essay provides an elaborate argument about the degree in which income inequality may affect the economy. Overview This essay provides an overview of some of the ways in which income inequality may influence an economy. It contains several ideas regarding the degree in which income inequality may affect growth of an economy. It provides thorough analysis of possible positive effects of income inequality and the negative effects of income inequality on an economy. This essay covers an elaborate debate which clearly points out at risks that may be imposed on an economy due to income inequality. 2.0 Main Body: Effects Analysis Income inequality is instigated by supply and demand for labor caused by imperfect competition and uneven distribution of information. Income inequality may have different effects on economy. It may either drag or catapult growth of economy. The central theme of this analysis is to make an evaluation about the degree in which income inequality may negatively affect economic growth. 2.1 Positive Effects on Economic Growth High income inequality may be vital for economic growth. ... Excessive money in circulation may have extremely negative effect on the growth an economy due to inflation. Foreign trade may be very expensive especially when a country tries to import raw materials. Moreover, low income earners may tend to borrow money from financial institutions and this can be used as a tool for controlling money circulation (Castello-Climent 2010, 293-315). Additionally, there income inequality may result into wide gap between the rich and the poor. Wider gap between the rich and the poor can be very helpful in promoting competition and innovativeness. There is a high level of social stratification which prompts competition for status thus spurring growth of the economy due to hard work (Judis 2013, n.p). Also high income inequality may decrease efficiency because of low incentive to work. Because of income inequality, the rich will always get richer and save money for investment (Allen 1999, 143-150). Furthermore, high income earners may enjoy all the faciliti es such as the recreational facilities present in the country thus increasing revenue earned from these facilities. Happiness which is associated with high income contributes a lot in predicting the future behaviors such as productivity in the labor market and happier people also tend to be healthier and live longer (Shin 2012, 2049-2056). 2.2 Negative Effects on Economic Growth Nevertheless, income inequality has an adverse effect on the growth of an economy. Equal income inequality reduces the gap between the rich and the poor thus leading to distributive efficiency within a country. Distributive efficiency reduces marginal utility of resources and further lowers personal utility. An extra dollar consumed by a low income earner is automatically directed to necessities which are

Cesar Chavez's Plan Delano Essay Example | Topics and Well Written Essays - 750 words

Cesar Chavez's Plan Delano - Essay Example "The Plan of Delano" is the Proclamation issued by La Causa when the National Farm Workers' Association voted to join the Filipino grape pickers' strike in 1965. It spells out the platform of Cesar Chavez' peaceful yet forceful demand for farm workers' welfare and labor reforms to end the injustice that has been oppressing them. He calls it a pilgrimage, a journey that moves towards a hopeful end. This journey is bathed in the blood and sweat of their forefathers in the last one hundred years. He says that they are not afraid to suffer for the sake of attaining their goals of a better life and development. The Plan is a six-point proposition that entails the following: 1. It is going to be a peaceful rally seeking for their basic human rights, quoting Benito Jurez: "El respeto al derecho ajeno es la paz" (Respect for the rights of others is the way to peace); 2. It calls for the "support of political groups and protection of the government," for in the past they have been ignored and less favored; 3. It is also a call for support from the Church of all denominations believing that "God shall not abandon" them; 4. It further calls for endurance amidst the suffering; 5. It also calls for unity, for there is strength in being united; and 6. Finally, it calls for unarmed revolution. This Proclamation has not only been limited to the area where Chavez and his followers belong but it has been a window to the heart and soul of the Mexicans all over the world. For instance, Lorena Oropeza, in "Raza S! Guerra No!: Chicano Protest and Patriotism during the Viet Nam War Era, valorizes the Chicano patriotism and protest as she refers to the "Plan de Delano" as "a ringing plea for dignity and equality for all farmworkers" (72). In addition, the Postmodern Political Communication: The Fringe Challenges the Center edited by Andrew King mentions that the "Plan of Delano" was Top of Form "inspired by [Emiliano] Zapata" (88) and is a "reflection of the ideas of a Chicano prophet, Cesar Chavez" (93). Further, the book states that "His (Chavez) Plan of Delano, like all his rhetoric, focuses on this moral view of the world" (94) as it "presents a powerful call for unity among Mexican-Americans" (96). Looking into the text, one can glean the admirable and ideal characteristics of this action for a cause. Unlike the present strikes and rallies all over the world, particularly in Third World countries, Chavez' group exemplifies one that is peaceful, impartial, spiritual, enduring, united and unarmed as spelled out in the six-point plan. Works Cited The Plan of Delano. (18 April 2008). This site contains the full text of the platform of Chavez's call for a peaceful strike that demands for reforms regarding the social injustices that the farm workers are subjected to. Csar E. Chvez. Social Justice and Civil Rights. California Department of Education. (18 April 2008). This site contains a comprehensive collection of materials and articles pertaining to Cesar Chavez and his

Success of Hollywood Films despite Restrictive Conditions Essay

Success of Hollywood Films despite Restrictive Conditions - Essay Example In response, Motion Picture Producers and Distributors Association drafted a production movie code that censors material viewed as morally unfit. Despite this censorship, restrictions of the Production code (1930-1968) and HUAC political pressures, highly artistic and regarded films such as On the Waterfront, Citizen, and Scarface were produced. Films formulated in accordance with specific genres were produced at the height of Hollywood studio system’s commercial and artistic success. The success of these films is not an anomaly. The restrictive production code created a platform for creativity and art that prospered films of this era to success (Rosenbaum, 1998). The gangster genre established itself in the beginning of the 1930’s. Howard Hawks’s Scarface (1932) was far more powerful than many others. The popularity of gangster and horror pictures was a reason for concern for the Motion-Picture Producers and Distributors Association and the Catholic Legion of De cency. Therefore, a Production Code was formulated forbidding excessive cinematic violence and sex scenes. The most crucial film of the decade was Citizen Kane. It success was due to its stylized lighting, deep-focus photography, and overlapping dialogue among other valuable techniques. It is one of America’s most significant contributions to the development of the movie industry. Despite several restrictions by the Production Code, the movie was one of the best in the period (Rosenbaum, 1998). Films such as Scarface presented antagonists in a favorable light; making heroes out of everyday villains. The Production Code reinforced and redefined the American cinema in the 1930’s. The basis was that every form of art should have it laws, and if the laws are surpassed, the art is recognized as something different. The Code introduced strict rules for film producers to abide by. This highly affected the manner in which Hollywood narratives were structured, and it is evidenc ed by films which were re-released in order to abide by the Production Code. Scarface provided the first significant test of the new Production Code. It attracted the attention of Will Hays, the chief censor of the time. It was a typical gangster film that focused on the gangster life of Tony, and his rise and fall. The original film portrayed Tony in a favorable light throughout the film; thus there were concerns that the film glorified the gangster culture. The code demanded the unsympathetic portrayal of Tony and minimal detail be shown of the brutal crimes. In accordance with the general principles of plot laid down, Scarface violated the principle that no plot theme should openly side with evil and be against good. It also went against the principle that suggests that, in a plot, evil should not be presented alluringly (Code, 1934). In order to show how concerning and serious the gangster culture was, the Code demanded that certain scenes be eliminated. The title was altered, a nd a prologue added that suggests to the audience that Scarface is against the gangster culture. An entirely new scene was also incorporated into Scarface to address the Code’s concerns over people confronting the newspaper publisher, angered by the publicity gangsters received from the press. A technique that ensured the success of films at this time is the idea of the audience being active readers. In Scarface, scenes that hinted at Tony’

BUS 101 Essay Example | Topics and Well Written Essays - 500 words

BUS 101 - Essay Example When the central bank is "tightening", it slows the process of private bank issue by selling securities on the open market and pulling money (that could be loaned) out of the private banking sector. It reduces or increases the supply of short term government debt, and inversely increases or reduces the supply of lending funds and thereby the ability of private banks to issue new money through debt. The operative notion of easy money is that the central bank creates new bank reserves (in the US known as "federal funds"), which let the banks lend out more money. These loans get spent, and the proceeds get deposited at other banks. Whatever is not required to be held as reserves is then lent out again, and through the magic of the "money multiplier", loans and bank deposits go up by many times the initial injection of reserves. (Wilkepedia.org.) Accounts Payable: This is the most important source of short-term financing for many firms. Beware that increased use of Accounts payables (such as by not paying off when you should) can be expensive as most firms offer favorable terms for prompt payment and delaying payments can also upset your suppliers. Commercial Paper-IOUs.

English Assignment Example | Topics and Well Written Essays - 750 words

English - Assignment Example My motivation to study English law as my major evolves from different factors. First, as a lawyer, I would manage to assist other people attain justice within the English law system, and have the opportunity to do my best since I love working under lots of pressure. For a long time, most of the court cases require superb track of record in successfully handled cases, and despite my little experience, I believe that such records are attained by lawyers who engage in intense research and lots of accuracy and attention to detail. I also trusted my confidence and strong communication skills since most situations that had to deal with always demonstrated a material difference. For instance, I contributed immensely to the success of a mock local campaign that involved verbal and written evidence in a situation that required compensation of Australian Aboriginals for the oppressions received from white colonialists. A good boss must contribute to social change, be influential, and sensitive to and flexible in the ever changing business environment. Being influential means getting their followers to not only accept, but also respond to their persuasion through wanting to do what should needs to be done. Good leaders are thus great communicators using visionary ideas that impact a strong imprint of ideology on their followers. Sensitivity to changing business environments facilitates the identification of new trends, develop strategies to improve, and flexibly develop fresh knowledge and systems to handle arising changes. Such bosses also encourage others to adopt rules, roles, and norms that propel responsiveness to change through strong decision and problem-solving strategies. Good bosses also promote social change by ensuring that their employees assist each other to attain a common mission and goal. In most instances, the poor in the society who end up in court cases with wealthy people tend to lose. However, the as a defense lawyer in such cases, know

The Twelfth-Century Renaissance Essay Example | Topics and Well Written Essays - 1000 words

The Twelfth-Century Renaissance - Essay Example According to Sreedharan, Henry Plantagenet is claimed to promote Arthurian romance, which formed the fundamentals of the English imperialism. It involved having access to written material of the Roman policy such as the Tacitus histories. Celtic romance stories had a significant influence too which depicted the revival of classical learning. A group that had learned and studied the classical literature with time transformed the society from the twelfth century way of life where survival seemed to involve less thoughtful and bloody fights. Latin classics were never wholly lost and were masked during the Iron Age and their emergence in the twelfth century brought in the renaissance. Innovation and inspiration in this time are the revivals that were enhanced by chivalric literature, which was also inspired by Arthurian legends. These developments in conventions of vernacular poetry resulted to key textual sources that notable poets of the time were influential then and still to the hist orians of the modern world. During this time, philosophy and science were not separable with certainty and so science and knowledge happened to fall under philosophy as a branch. Similar methods were used between them as philosophical issues, and arguments were reached and proved by means of scientific reasoning. This led to the encouragement of the educated class not just to memorize and pass the knowledge to others but also to keep widening the range of knowledge.7 The presence of incomplete philosophies allowed for disagreement and contradictions that the integration of these pieces with twelfth century level of understanding tolerated the expansion of original philosophies.8 During this time, Gothic architecture whose thought intention was shortening the distance between heaven and earth, and university were born in Paris.9 These resulted from the need to manage the knowledge in a systematic manner. There were also crusades that promoted trade and new ideas, therefore, making towns attract those seeking opp ortunities from the learned society.10 Beginning from early eleventh century, â€Å"the towns in Europe, so long stagnant or semi-deserted, began a strong revival.†11 The urban complexities demanded the revival of literacy and every form of learning that was possible and so there was the emergence of Cathedral schools and universities to accommodate the learning masses.12 During this time, Rome’s influence was not restricted to only literature and language but also their law survived beyond the Roman population. Their law was revitalized and expanded to the population of Northern Europe and later through colonization to other parts of the world. The law stimulated neglected texts as well as jurisprudence. In the early twelfth century, Roman law revival is linked with Bologna to whom it resulted to Bologna’s law school foundation and legal science renewal. Rome, Ravenna and Pavia were legal study centers before Bologna.13 The need to support Christianity during t he twelfth century resulted from the Ottoman’s Empire threats as well as the desire to create self awareness and reforms. â€Å"In the tenth century, Otto, the Great, secured stability again, and in the eleventh, the leaven of new thinking and distinct emergence of historical consciousness could be detected.†14 Hamilton Louis and Riccioni Stefano argued that,

Case study Example | Topics and Well Written Essays - 1000 words - 32

Case Study Example Printed catalog is the major focus area of IKEA marketing strategy. In fact the company spends most of its marketing budget on this area every year. Catalog entailing 300 to 400 pages is produced in 30 languages in 59 editions. Around 200 million catalog copies were circulated in 2012. In 2013 IKEA catalog incorporated new characteristics of special symbols that could be read by IKEA Android and iPhone apps. When the symbols are scanned, customers are fascinated by the presentation of detailed information about IKEA products. These apps also offer 3D product models and videos explaining ‘how to’ (Copeland and Hartline, 495). Similar real experience applies in the internet as attested by (Copeland and Hartline, 495). Customers are allowed to download programs that guide them in redesigning kitchens, bathroom and bedrooms. Customers can also view products online. Data entailing local events of every store, product and service specials as well as promotions, is also available in the website. This expands customer knowledge of products, services, motivation, events among other concerned business information. However, the drawback with regard to the website is that it does not entirely allow customers to purchase items online. Consumers have to visit the stores to access and purchase products. About 30 percent of the product line is allowed for purchase online. Moreover, in order to reach its target customers, IKEA catalog employs the use of radio, television and communication via the internet. The fact that IKEA lets its consumers to experience shopping experience by themselves, motivates customers towards purchasing items at IKEA stores. The materials that IKEA provides for its customers make it easier to shop. The showrooms in the floor display furniture of the company with several accessories that will make the style noticeable for consumers. This frees the customers from salespersons working on commission, according to Copeland and Hartline, (497). This

Improvements in Transportation Essay Example for Free

Improvements in Transportation Essay The growth of the Industrial Revolution depended on the ability to transport raw materials and finished goods over long distances. There were three main types of transportation that increased during the Industrial Revolution: waterways, roads, and railroads. Transportation was important because many people began living in the west and farther away from their homes. Prior to 1750, villagers either had to walk everywhere they went or travel by horse and carriage. The roads were in poor condition and in wet weather they became very muddy with the carriages often becoming bogged down. The villagers spent most of their time trying to repair the roads without receiving any pay for their work, but as turnpikes were created this was no longer a problem. A turnpike is a road that has a smooth layer of crushed rocks, with large rocks underneath. This allows the water to drain properly. Before the steamboat ships had to use the power of the wind in order to move from place to place, and so the speed of travel was limited and slow. Then steamboat emerged, Robert Fulton made the first steam-powered engine to power a steamboat, and in 1807 he demonstrated its use by going from New York City to Albany via the Hudson River. His steamboat was able to carry raw materials across the Atlantic Ocean by the mid 1800s. This was a great advancement for transporting materials. At the turn of the 19th century the steam engine was invented. Even though iron rails were being used in the coal mines, there were no self-propelled locomotives to run on them. James Watt was able to make steam engines faster and more efficient, later when he joined up with a businessman who helped him keep improving it. This eventually led to the first train.

Public and Private Companies in Malaysia

Public and Private Companies in Malaysia The number of private going to public listed company is the common ways to practice in Malaysia. In contrary, public listed companies going private has increased sharply in recent years like the mushroom after raining release onto the business world. This adjustment is formed by the Stock Exchange of Malaysia, Bursa Malaysia. In the beginning of 2007, there has offer a series of privatisation of public listed companies on our local bourse, Bursa Malaysia. The trend of privatisation of public listed companies in the Bursa Malaysia has raised more than 20 privatisations since 2007 (source: Announcements from Bursa Malaysia). The establishment of the Stock Exchange of Malaysia in 1964 had given a new perspective in the Malaysian economic landscape. This institute will help in quick expansion of its longer term capital growth and enhancing global competitive. Since its formation, the Stock Exchange of Malaysia, Bursa Malaysia, has over 1,000 listed companies provide a wide range opportunity of investment choices to local and foreign investors include retail and institutional level, merchant banks and unit trust companies. Bursa Malaysia (formerly known as Kuala Lumpur Stock Exchange, KLSE) has currently more than 982 public listed companies (as at 17 September 2008) with a total market capitalization in excess of RM930 billion. It is one of the largest Stock Exchange in South East Asia, No. 1 in terms of listed companies, and No. 2 in terms of market capitalization after Singapore. The privatisation continued through 2008 with 21 privatisation proposals on the Bursa Malaysia. According to OSK Research Head Chris Eng comments that the wind of privatisation was expected to be strong next year in view of the low valuation of stocks, although earnings may contract but price-to-earnings ratio is still low. This demonstrates that the privatization will carried out efficiency in the view of the researcher excluded the global financial crisis. Jupiter Securities head of research Pong Teng Siew said the privatisation trend was unlikely to insist during the global financial crisis. The privatisation issue will outcome in the view of global credit crunch. The global credit crunch can reduce funds available to local and foreign investor. An example for proposed plan to privatise in AirAsia had illustrates core issue to privatisation, which is the funding source. However, this will cause the AirAsia stay at the security position. AirAsias major shareholder Tune Air Sdn Bhd, leadership by the groups chief executive Datuk Seri Tony Fernandes, had announce to put on hold its plan to privatise and delist the counter from the local stock exchange due to the difficulties in securing funding. The privatise position will affect their funds and share easily acquirer by outsider owned sufficient capital. Other factors that may fuel privatization include businesses that were fairly stable where there was no need to raise cash via equity, which in turn made the requirements of a listing such as the need to hold AGMs and issue annual reports. Such requirements on listed companies had leave the companies with little breathing space, less liberty and make it difficult for companies to make major the decisions such as expanding overseas, acquiring new businesses or obtaining new shareholders without losing precious time in these pursuits. By going private, the companys major shareholders are able to focus on taking bigger strategic risks in order to enjoy long-term profits without facing intense scrutiny of public shareholders and being constrained by the need to consider how a proposed transaction might influence the quarterly earnings or the volatility of the share price of the company. Kenanga Investment Bank Head of Corporate Finance Debbie Leong agrees. She said other than cheap valuation; other motivating factors included the cost of maintaining the listing status. She said the same goes for companies too that were not bring benefit from having a listing status, such as the inability to tap the capital market for funds due to lack of visibility to investors, low analyst coverage, or the mere fact that the companies were too small to gain attention from institutional shareholders. In the view of point, Analysts from anonymous said privatisation also played a significant role in continuous bringing stock prices closer to their intrinsic values (actual cost of the company). Privatisations are likely to involve small to mid-cap companies going forward, as the quantum involves in completing the privatisation would be smaller (less than RM100 million) and thus more manageable when it comes to funding in view of the current global credit crunch. OSK Research head Chris Eng said it believe that there is an increasing privatisation trend among small, family-owned public-listed companies especially identified where cash per share is higher than the share price. Bursa Malaysiaà ¢Ã¢â€š ¬Ã… ¸s Kuala Lumpur Composite Index had tumbled to 876.40 points on December 19, 2008, a 73% drop from its peak of 1,516.22 on January 2008. It is worth noting that the price-to-earnings ratio of the Kuala Lumpur Composite Index had also dipped to 10.10 times as of the week ended December 19, 2008 from a high of 16.84 times as of the week ended January 11, 2008. Its lowest price-earnings-ratio for the year was 9.31 times for the week ended October 24, 2008. There are more than a total 86 new listings for the past 3 years from the year of 2006 until 2008, whereby there were 40 new listings in the year of 2006, 28 new listings in the year of 2007 and 18 new listings in the year of 2008 (as at 17 September 2008) on the Bursa Malaysia. Total money raised from the public listing exercise and other corporate exercise was RM 4.1 billon in 2006 and RM 16.8 billion in the year of 2007 (source: from Bursa Malaysiaà ¢Ã¢â€š ¬Ã… ¸s 2007 Annual Report). Some RM46.29 billion has been wiped out from Bursa Malaysiaà ¢Ã¢â€š ¬Ã… ¸s market capitalisation in the first half of the year of 2007, as 17 companies were taken private, a stock exchange official said. In contrast, the stock market added RM3.74 billion in market capitalisation from the listing of 16 companies in the same period. Global leveraged buyout volume for the first six months of the year 2007 was estimated at US$450 billion (RM1.56 trillion), more than double the whole of last year of 2006. The privatization of these companies signals a very mature and robust financial market, with a favourable credit market. The cycle of privatisation will turn when interest rate goes up and companies find it more expensive to raise funds from the credit market. Selvarany Rasiah, Chief Regulatory Officer of Bursa Malaysia (Business Times Malaysia 20 June 2007). (Source: Business Times 22 September 2008) Privatisations are common done with reasons; the owner is motivated to do so when the share price does not reflect its fundamental value. Expectations are high that the rate of privatisation may pick up by the third quarter of 2009, once the global credit situation has eased and there is more clarity. Interestingly, PricewaterhouseCoopers Advisory Sdn Bhd, Senior Executive Director Tan Siow Ming says private equity firms may feature more prominently as an alternative source of financing for the privatisation exercises. Three factors, he says, may whet the appetite of private equity players in the public to private deals. Firstly, they have a considerable amount of investible funds in their coffers; secondly they are able to leverage at reasonable cost given the current credit crunch; and thirdly, it may fit strategically with their overall investment strategy. The economy report made by shahriman johari, rupa damodaran ,chong pooi koon had said Malaysias economy growth is expected to increase between 2 per cent and 3 per cent in 2010 which supported by private investment and consumption. (Source: Business Times Saturday OCT 24, 2009) THE government plans to privatise selected government agencies and give customised incentives to attract fresh investments from the private sector. This forms part of the governments plan to develop a new economic model based on high income, which will be the focus in the 10th Malaysia Plan (10MP). It did not select which agencies will be privatised, but this will recognized as the second wave of privatisation. The government has work out their effort to improve the financial sector to facilitate efficient intermediation. Then, it can measure to enhance access, cut transaction costs and promote stock broking and fundraising activities. Small and medium enterprises (SMEs) wont be left out. There are incentives to help them modernize and sustain their operations. In addition, the numerous grants and loan schemes will be rationalised to improve access and effectiveness (Source: Business Times Saturday OCT 24, 2009). Obviously, the privatisation exist MA transactions in Malaysia. The main regulations governing MA transactions in Malaysia include the Companies Act 1965, the Capital Market Services Act 2007 (à ¢Ã¢â€š ¬Ã… ¾CMSAà ¢Ã¢â€š ¬Ã… ¸), the Guidelines provided for the Acquisition of Assets, the Malaysian Code on Takeovers and Mergers 1998 (à ¢Ã¢â€š ¬Ã… ¾Take-over Codeà ¢Ã¢â€š ¬Ã… ¸), Mergers and Takeovers issued by the Foreign Investment Committee (à ¢Ã¢â€š ¬Ã… ¾FIC Guidelinesà ¢Ã¢â€š ¬Ã… ¸) and the Listing Requirements of the Bursa Malaysia Securities Berhad (à ¢Ã¢â€š ¬Ã… ¾Bursa Malaysiaà ¢Ã¢â€š ¬Ã… ¸) for public listed companies. Section 216 of the CMSA and the Companies Act 1965 govern MA transactions that involve the sale or purchase of substantial assets by a public company while Section 217 of the CMSA and the Take-over Code regulate MA transactions that involves the acquisition of voting shares which results in a change of control in a company. These regulations are put in pla ce to protect the interests of shareholders and to ensure that all take-overs and mergers take place in a competitive, informed and efficient market. Also, the laws and regulations are to ensure all shareholders of a company involved in a take-over and merger situation receive fair and equal treatment. Public listed companies in the Bursa Malaysia are adjustment become private encourage whole acquisition offer to the shareholders of the public listed company. The conduct of the take-over schemes are regulated by the Securities Commission and are subject to the Malaysian Code on Take-Overs and Mergers 1998. The general offer trigger is 33% where: (i) In order to an acquisition of 33% of voting shares by a person in addition with persons acting in concert with them (acquirer), or when (ii) The acquirer had already holds more than 33% but less than 50%, hold 2% within a period of 6 (six) months from the date of acquisition would require that such a mandatory offer be made. Once the level of acceptance has achieved 50% of more, the offer becomes unconditional. Some acquirer exposure in a condition for a takeover of other property such that it must have at least 50% of the shares in a voluntary takeover scheme, failing which the acceptance will be the rate of return to shareholders. Once the acceptance of the takeover breaches the 75% level, the listed company breaches the public shareholding spread requirement under the Listing Requirements of the Bursa Malaysia. The public listed company which drop short of the 25% spread requirement may request for an extension of time from Bursa Malaysia to rectify the situation. The company could be suspended or delisted unless the listed company finds means of increasing the public spread to at least 25% again if no extension of time is granted by Bursa Malaysia (Source: Bursa Malaysia Listing Requirements and Securities Commission Malaysian Code on Take-Overs 1988). The most common methods of privatization observed on our Bursa Malaysia are as follows:- 1. Direct offer A voluntary general offer can be made for the rest of the shares not owned by the owner or related parties acting in concert. 2. Via a new company or special purpose vehicle company The owner can use a new company or incorporate a special purpose vehicle company to acquire all his shares and the rest of shares owned by the other shareholders. 3. Acquire the business In order to avoid rejection by some minority shareholders, more and more owners are using this method, i.e. seeking shareholdersà ¢Ã¢â€š ¬Ã… ¸ approval to sell the entire business and thereafter distribute the cash proceeds back to shareholders. The end effect is the same as cash offer for the shares. 1.2 Objectives of the Study Based on the gains sharing issue highlighted above, this study carries out an analysis on the numbers of publicly traded companies in Malaysia that had participated in going private transactions in 2007. Moreover, there have been myriads studies concerned on the motive and/or reasons for mergers and acquisitions mostly in the United States, United Kingdom and Europe, but very few motives and/or reasons have been addressed for public listed companies going private. The number of public listed companies going private has increased sharply in recent years like the mushroom after raining especially in Malaysia, as part of widespread corporate restructuring. Privatisation is the reverse of a public listing exercise. However, little evidence has been provided to prove for similar applications in the Malaysian capital market. This paper aims to fill the gap and contribute to existing literature. The objective of this study is to determine the following:- 1. What is the motive for a public listed company to go private? 2. How is the price earnings ratio and price to book valuation of a public listed company in relation to companies being taken private? 3. How emphasis is given to the offer price that has been offered by these companies to their public shareholders and with this the study strives to achieve the objectives? The following objectives below are; i) To measure the fairness of the offer price offered to the minority shareholders by comparing the share price derived by the discounted cash flow valuation with the offer price offered by the companies when the transaction took place; and ii) To assess whether the gain sharing proposition established in previous literatures can be generalized in Malaysia financial market as what observed in the in the country such as the U.S., the UK and other European countries. 1.3 Scope of the Study This study will cover all public listed companies listed on the Bursa Malaysia which is being taken private in 2007. It will examine the motives and/or reasons for public listed companies in Malaysia going private. Recognizing the need to protect the minority shareholders interest in Malaysia, especially in the exercises that are undertaken by the publicly held company that have a significant impact on public shareholders, this study aims to contribute to this effort by focusing on going private transactions. 1.4 Purpose and Significance of the Study There have been numerous studies concerned the motive and/or reasons for mergers and acquisitions, but very few motives and/or reasons have been addresses for public listed companies going private. The number of public listed companies going private has increased sharply in recent years especially in Malaysia, as part of widespread corporate restructuring and/or mergers and acquisitions. Furthermore, this study will cover and overview all public listed companies listed on the Bursa Malaysia which is being taken private in 2007 which is recognize as privatisation that reverse from public listing exercise. The objective of this study is to examine why this new trend emerges and what causes it to happen. 1.5 Limitations of the Study The privatisation of Malaysiaà ¢Ã¢â€š ¬Ã… ¸s public listed companies was relatively new phenomena that started in 2006 and implement in 2007 throughout 2008, a relatively short period of study as compared to studies of privatisation of public listed companies in UK from 1997 to 2003 by (Renneboog, Simons and Wright 2005). Thus, the scope of the study is limited to Malaysiaà ¢Ã¢â€š ¬Ã… ¸s public listed companies in the Bursa Malaysia going private in the year of 2007. There is lack of information for Malaysia due to the new trend or phenomena. 1.6 Organization of the Study The paper is divided into five (5) chapters. The first chapter of this research describes the driving factors that led to this study. It highlights the background, objectives, scope of the study as well as the significance of the study. Chapter two (2) of this study will cover the literature review and to provide evidence which found from the previous studies on various reasons behind public listed companies going private. It will be used to support discussion and findings from the data analysis. Development of hypotheses, selection of measures, sampling design, data collection procedure and analysis are outlined in Chapter three (3). Chapter four (4) draws some research result of this study and conclusion and recommendations will be presented in Chapter five (5). CHAPTER 2 LITERATURE REVIEW Before us deeply into the public listed companies to go private. Understanding that why did the companies decided to become a public listed company is very imperative. Roell (1996) documents five reasons why owners of firms decided to go public.

The Concept Of Sell Then Build

The Concept Of Sell Then Build Housing market play an important role in economy of Malaysia. The demand on housing market increasing year by year since the population of Malaysia is increasing. Undoubtedly, buyers nowadays buy a house is not only for living use, but also for investment use. This criterion causes the housing market become larger than before. In addition, home-buyers who have ability nowadays also require a quality house for their living place. To support the large market, the developers act as a key role to supply the large number of housing needed and high quality houses. Therefore, housing delivery system plays an important role to supply the houses to home-buyers. Currently, there are two important housing delivery system adopted in Malaysia that is STB system and BTS system. The developers in Malaysia had implemented the conventional STB system for many decades, and with this system, developers successful to meet the housing market needed. However, there is no system can be implemented perfectly without any flaws. According to the housing provision performance in five years of Malaysian plan, it shows that the public and private sectors have over-supplying the houses needed by using STB system. Furthermore, the badly performance of supplying the housing have risen during the economic downturn and the abandoned projects occurred in 1980s and early 1990s had make the home-buyers disappointed with this situation. Thus, government had first time introduced build-then-sell (BTS) system to be implemented in 1990 to solve the abandoned housing problem. However, some of the developers claim that BTS system still not feasible to implement in Malaysia housing sector. From developers viewpoint, many considerations need to be considered such as the approval of planning process, financial supports, firm characteristic and others in implementation of a suitable housing delivery system. The Concept of Sell-Then-Build (STB) System In Malaysia, most of the developers prefer to adopt STB system as the housing delivery system in their development. With STB system, the developer is allowed to collect money from potential home-buyers before the houses being constructed. The money collected from home-buyers can use as part of the finances for the development. Therefore, the developers can reduce the bridging finance borrowed from bank or financial institution. Under STB system, house-buyers considered as one of the financiers to a development project since they part-finance the construction cost of the project via individual end-financing obtained from a financial institution (end-financier). On the other hand, the developer may obtain a bridging finance from financial institution (bridge-financier) to bridge-finance the construction costs paid out pending receipt of progressive payment from the end-financiers. There are two main purposes for a pre-sale condition. First, a pre-sale demonstrates a certain level of saleability for the development. With the STB concept, the developers can sell the houses first before they construct the housing projects. Therefore, the developers can estimates the number of houses needed to construct in a housing project. Second, with the pre-sale, it can minimise the bridging finance required to fund the cost of completion in case the developers fails to achieve further sales after the disbursement of the bridging finance(The Association of Banks in Malaysia, 2009). With the STB concept, the developer can minimise the possibility to sustain loss. The Problems Faced by Conventional Sell-Then-Build System STB system had been implemented for four decades in Malaysia and had met the target needed in housing market. However, the implementation of STB system has bring some housing problems which caused by human-being. These problems have caused many home-buyers disappointed with the housing market. Under STB system, the home-buyers face with numerous problems such as defect problems, late delivery, difficulties in getting Certificate Fitness for Occupation (CFO) and land titles approval, and abandoned projects. The latest few years, many home-buyers have complained that the poor quality of houses built by developers. There are many houses built under STB system faced with the bad defects such as walls and floors cracking, foundation sinking, roof leaking, retaining walls collapsing, septic tank not working and pipes blocking (Property Times, 2005). This situation may occur since the money had been collected from home-buyers by developers during construction period. The unethical developers will try to jerry-build the houses to gain more profit. Their irresponsibility behaviour make the bad defects occurred and they escape from the responsibility after they have collect all money. As we know that, under STB system, the un-built houses are sold to potential home-buyers by showing with a model house. However, there is a risk raised since the workmanship and design of actual house unit built by developers may be different with the model house. Additionally, the problem of late delivery of houses is always happened under STB system. Although the developers had promised to complete the houses on the specific date stated in Sales and Purchase (SP) Agreement, but the completion of the houses is always delayed from the date promised (Ng, 2007). This problem is keep occurred and make the home-buyers puzzled. Again, the difficulty to get CFO and land titles approval have make the home-buyers disappointed with the insufficient supply of housing units. The worse housing problem under STB system is the abandoned project. Since the developers can legally sold the un-built houses to home-buyers and collect money from them before construction finish, there is a risk that the developers run away with the money before the houses were completed. National Housing Buyers Association Malaysia (2006) revealed that, the developers abandon their projects when they have sold almost all the houses. The table below had been shown the abandoned project occurred from 1990 until 31st May 2009. From the table 2.1, we can know that, there are 5,484 home-buyers became the victims of abandoned projects. From developers viewpoint, the abandoned projects are only a small number from total housing development projects and not a serious problem. However, the home-buyers as victims need to bear a heavy of money loss and disappointed with the housing market in Malaysia. Over the years, there is insufficient supply of housing units which have affected most home-buyers. Therefore, the government is trying to find a solution to solve these problems. As a result, government had proposed to implement BTS system in Malaysia to avoid these problems raised again and again. The Concept of Build-Then-Sell System The concept of BTS system is definitely different with the concept of STB system. STB system allows the developers to sell the house units before they built and obtain the money from home-buyers to fund construction or secure bridge financing through joint venture arrangements with banks (Nor Aini Yusof, 2009). This may give chance to some developers managed to get away from completing their projects with few financial consequences at the expense of unsuspecting home-buyers. Under STB system, many home-buyers complaints about shoddy workmanship, late delivery of houses and abandoned projects, therefore, the government introduced four initiatives, which include the establishment of a new One Stop Centre (OSC) at local authorities, the Issuance of Certificate of Completion and Compliance (CCC) by professionals is introduced to replace the CFO and BTS system (INTAN, 2007). The concept of BTS system is the developers must complete a housing project before they can sell it to the home-buyers (The Star, 2007). Therefore, the developers cannot collect the money from home-buyers before they complete the housing project under BTS system. The risks of housing development are shared between developers and their lending banks only. Therefore, fewer developers adopt BTS system compared to STB system since only developers with strong financial support are able to implement it. The housing projects that are built and marketed by using BTS system need not comply with the statutory standard SP agreements. As difference with STB system, the BTS system allows the developer does not receive progressive payment from end-financiers as STB system. In order for the development project to work successful, the developer need borrow higher financing from the bridge-financier to finance the project. Hence, the bank has to play an important role by providing bridging finance for the construction costs and this will increase the risk exposure of the financial institution. Generally, the banks prefer to lend loan to individual purchasers in many smaller parcels instead of lending it all to the developer in one parcel. Therefore, it is difficult for the new started companies which do not have necessary track record to convince the bank to provide them with the financing to do it in the new BTS system. It is believed that the new concept will give some impacts on the current financing practices involving the type of financial resources such as end finance and bridge finance, and the parties involved in development project are developers and bankers. It is also believed that the BTS system will leave a great impact on the developers and the whole property industry since there is only the bridging finance to fund the construction activities. In Malaysia, BTS system is not a totally alien system since a few financially strong developers with developments in prime locations have implement the complement BTS system. There are two main types of BTS system, which include complete BTS and partial BTS. The complete BTS is the developer builds the house and sells when completed CCC or CFO, there is no prior agreement as STB system, therefore, the developer entitle to sell at market price at the time of completion. On the other hand, the partial BTS is a housing delivery system which combined both BTS and STB. For partial BTS, the SP agreement is signed before the construction start and developer can collects a certain percentage as initial payment during the SP agreement being signed. The balance of the houses price will be paid after completion with CCC or CFO. The partial BTS can be 10:90, 20:80 or 30:70, the percentage of partial BTS is depend on the developer. The government is more concern to 10:90 BTS compare to other partial BTS. In fact, 10:90 system is still a Sell first then Build model since the houses are still not yet to be build at the time signing of SP agreement. However, if the developer fails to complete the project and cause the abandoned project for whatever reasons, the buyers are protected from any disastrous fallout. This option is introduced by Ministry of Housing and Local Government (MHLG) in which the 10% deposit is paid to the lawyers as down payment upon signing the SP agreement and the sale is locked-in while the balance is payable after the completion of CCC or CFO. The Stakeholders in Build-Then Sell System The word of Stakeholder means that the individuals or groups who are involved or affected either directly or indirectly by a system or program (Atkinson et al, 1997). Hence, the stakeholders of BTS system include individuals or groups whose interests or quality of life affected by the decision to apply BTS. This impacts received by those people either positively or negatively. The stakeholders in BTS system include housing developers, home-buyers, financial institutions, government, professional bodies and social activists. The details of those stakeholders are shown as Table 2.2. Stakeholders Descriptions Developer Developer is an entrepreneur. They can identify the need for a particular property product and is willing to take risk to produce it for a profit. Background of developer may be in building, estate agency, engineering, finance, law, architecture or business management. They are involved in the real process of development. Some of the developers have total responsibility for the management of every stage of a development. Whereas others are given a large amount of responsibility to a project manager, retaining a more strategic policy role. Financial institutions Developers seek a number of funds to secure the full measure of equity return from development projects. Therefore, the financial institution plays an important role to finance the projects. Such financial institutions become active developers in their own right are largely a function of the prevailing general investment climate and the particular performance of the property market. According to Datuk Seri Ong Ka Ting, under BTS system, banks need to make some commitment towards providing suitable funding to projects. Professional bodies Architect The architect plays a role to critical to the development process. Architect will translate the concept or idea of developer into a workable and attractive solution. Several major elements in the development process such as the acquisition of planning approval, the design of the building and the control of the building contract are fully concerned by the architect. To conform the developers do not run away with the bridge finance, architect need to prepare a report of development stage by stage to bank for bank to release money. Engineers There are several engineer involve in the construction process of the development project. They working closely with the architect and combine to ensure that the plans are structurally and that the mechanical systems will service the building effectively. The engineers involved in a development projects include structural engineer, geotechnical engineer, mechanical and electrical engineer or building services engineer and environmental engineer. Quantity surveyor The quantity surveyor is in charge with the task of cost analysis and cost control. Quantity surveyor included in the initial design deliberations and financial appraisal. Solicitor The services of a solicitor in the property development process include acquisition through the various stages of planning approval, contracts for construction, to eventual sale or leasing Table 2.2 Stakeholders in Build-Then-Sell System The Issues of Build-Then-Sell System in Malaysia Since there are a large number of abandoned projects caused by the economic downturn and developers financial inadequacy, the government introduced the implementation of BTS system. BTS system has been studied over past two decades. In early 1981, the implementation of the BTS system proposed by the Federation of Malaysian Consumer Association (Zulkilfli Abdul Ghani, 2004). A decade later, Dr. Ting Chew Peh, the then-Minister of Housing and Local Government, called for implementation of BTS in 1991. There are a lot of benefits to implement BTS system compare to STB system. First, when the developer adopts BTS system, the home-buyers have the chance to see built housing units. The home-buyers also can spot the weaknesses of the houses built and the interest of the home-buyers are protected. Home-buyer prefers to gauge quality of the house rather than simply betting on such issues based on a coloured brochure. Since the home-buyers can see the houses first before they decide to buy it, so the quality of the houses built is guaranteed. The government endorsed BTS in 1996 which reflected in the 7th Malaysian Plan in Dewan Rakyat by previous-Prime Minister Dr. Mahathir Mohamad (New Strait Times, 1999). However, this is only a small portion of developers adopt the BTS system. Hence, the government offered incentives to the developers who apply either BTS or 10:90 system. The incentives include the fast-track approval for BTS projects, a waiver of the RM 200,000 deposit for a housing developers license and an exemption from the low-cost house construction quota. There are some affords have been done by government to support BTS system. First, the government has expanding the role of the current OSC. With the existing of OSC, the development applications process become simultaneously and systematically via a committee headed by council presidents and made up of other technical department officers. In addition, the other impetuses include replacing the CFO with professionally issued CCC, drafting of a Building and Common Property Act 2007 to ensure a better maintenance and management of stratified properties and waiving of the license deposit for developers who opt for the BTS system. The incentives offered to developers include the reduction of up to four months for the processing of development proposals and the option for developers to replace the quota to build low-cost homes with medium-cost homes. According to Previous Prime Minister Tun Abdullah Badawi (2007), the approvals for selected projects such as BTS, high impact projects, government and foreign investors would be shorter than other projects. The time taken to approve projects for those selected projects will be slashed from five years to six months. In addition, CCC will replace CFO to avoid delays. However, under the CCC system, certified professionals like architects and engineers are authorized to approve buildings for vacant possession. Although professional will managed the issuance of CCC, the local authorities will continue to monitor the construction to ensure it is done according to regulations. In 2007, the government announced that the implementation of BTS and STB can be adopted parallel at the same time. Since the developer can choose whether to adopt the new BTS concept or the STB concept, therefore only a few developers have taken the governments offered incentives to implement BTS system. The developer prefer STB system rather than BTS system because developers are more familiar with STB system which has been practiced for over 50 years in Malaysia and developers did not want to take risk on the new system. Additionally, most of the developers are still unclear with the application of incentives offered by government. Under the STB system, some professional misconduct was believed to contribute to the housing industrys problems. For instance, a dishonest architect will approve project progress although the specifications do not achieved by developers. Again, many lawyers prepare their documents during the pre-construction stage and will simply walk away if the project has been abandoned. To avoid these problems occurred, most of the professional bodies believed that the BTS or 10:90 system would minimize the industrys problems and help boost the housing industry. Although the BTS concept can protects home-buyers from being stuck in case a development project is abandoned, but it cannot avoid a development project from being abandoned in the first place. The risks of property development would still exist with or without the BTS system. This is because the risks associated with property development may cause by other factors such as increases in project costs, main contractors capacity and regulatory issues which can affect whether the project can be completed or not. According to Datuk Eddy Chen (2007), the immediate past president of REHDA, there is no need to change the BTS system or its 10:90 variant since the abandoned projects are only a small portion of the millions of housing units which successfully built. However, the abandoned houses are no small matter for those home-buyers who need to pay off loans for units they will not see. From a home-buyers viewpoint, they are willing to pay a slightly price for a house as long as they are assured a high-quality house. Many people will be satisfied if they are given the chance to see and examine the completed house before deciding to buy it. Therefore, the home-buyers can accept either the BTS or 10:90 system which can reduce their risk when buying a house. According to Datuk seri Kong Cho Ha (2009), the Housing and Local Government Minister, the full BTS system would not be feasible adopted in Malaysia unless the projects are held in a hot area such as Bandar Utama. In our country, only a small amount of developers have the financial capacity to take the high risk of adopting the BTS system and the few financial institutions willing to finance a BTS project because it is risky. Therefore, it is quite hard to let all stakeholders accept the full BTS system since nobody can promise the sales of the completed houses and the return of projects. Most of the developers and financial institutions are not dare to take the risk especially in this economy downturn period. The Comparison of Planning Approval Process of Build-Then-Sell System and Sell-Then-Build System Nowadays, the approval for application of planning is preceded through OSC which will be more effective and efficient than before. To encourage the developers to implement BTS system, the approval of application of planning will be approve through the fast lane within 4 months. The planning approval will be prior given to the developer who adopts BTS system. If the development located within the location that has local planning, the approval of planning will be obtained within 67 days (2 months and 7 days). Besides, the developer who adopts STB system will obtain the approval of application of planning within 6 months. The time used in the planning approval is differs for BTS and STB system. The flowchart of application for proposal development for BTS system and STB system are shown in Figure 2.1 and Figure 2.2. Figure 2.1 Flowchart of Concurrent Application for Proposal Development within 4 Months (Source: Guidebook Improving the Delivery System Procedure and Process of Development Proposal and Implementation of One-Stop Centre (Second Edition), MHLG) Figure 2.2 Flowchart of Concurrent Application for Proposal Development within 6 Months (Source: Guidebook Improving the Delivery System Procedure and Process of Development Proposal and Implementation of One-Stop Centre (Second Edition), MHLG) A new set of Standard SP Agreements needs to be set up for the 10:90 system. In fact, 10:90 system is a combination of STB system and BTS system. There are no much different from STB system in the development process and the SP Agreements. To a better understanding of the various existing sale transaction and the payment systems for the different types of purchase, Table 2.3 is shown the comparison on the delivery systems. Details Completed Properties Sell-Then-Build System Build-Then-Sell System 10:90 Payment System On the signing of Sale Purchase Agreement Pay 10% of purchase price Pay 10% of Purchase Price None Pay 10% of Purchase Price Waiting period for Completion of Construction Notice of Delivery of Vacant Possession None Within 24 or 36 months or more upon Architects Certification of Completion Within 24 or 36 months or more upon Architects Certification of Completion *Within 24 or 36 months or more upon Architects Certification of Completion Buyer to complete payments 3 months from SPA Date (in normal situation) Progressive payment system in percentage (3rd Schedule) (from first 10% payment or SPA Date) while waiting for completion of construction Full payment of Purchase Price at 24 or 36 months from SPA Date depending on the regulated contract of sale 90% of Purchase Price at 24 or 36 months from SPA Date depending on the regulated contract of sale Waiting period for actual occupation with Certificate of Fitness for Occupation (CFO) None Within 14 days from Vacant Possession or longer depending on Developers architect to procure the issuance of CFO Proposed Vacant Possession with CFO *Proposed Vacant Possession with CFO Waiting period for transfer of individual/strata titles Varies on whether titles have been issued at the time of signing of SPA Varies from developer to developer Proposed Vacant Possession with issuance of titles *Proposed Vacant Possession with issuance of titles Table 2.3 Comparison on the housing delivery system (Source: National Housing Buyers Association) The Advantages of Adoption of Build-Then Sell System To encourage developers adopt BTS system as their housing delivery system, government has offered many incentives for the developers who adopt BTS system. Hence, the developers can enjoy the advantages while adopt the BTS system. In the process of planning approval, the departments involved will give priority to the developers who adopt BTS system. Therefore, the developers that implement BTS system will obtain approval of development faster than the developers who adopt STB system. They can obtain the approval through fast track of four months while the other will obtain the approval in six months. The other incentives offered include option to build medium-low cost or medium cost houses to replace the low cost houses, exemption from RM200,000 of license fee and SPA enable developer to obtain financing. In housing development, the developers are required to build low cost houses which the requirements are differ from state to state. However, the developers who adopt BTS system can replace the low cost houses by medium-low cost houses or medium cost houses. This offer allow the developer earn more money compare with the development which need to build low cost houses. Additionally, the developers are exempted from RM200,000 for license fee if they implement BTS system. Therefore, the developers save RM200,000 and use it to finance the housing project. Most of the developers claim that they are unable to support BTS system because it is hard to borrow money from bank. Therefore, the government introduces 10:90 system which the SP Agreement can be signed before construction stage. With the SP Agreement, the developer can obtain 10% deposits from home-buyers for their development. In fact, the BTS system has bring a lot of advantages to home-buyers. With the implementation of BTS system, the home-buyers can view the complete houses first before they paid the entire payment. Therefore, home-buyers no need to worry the developers run away with the money before complete the houses. Again, the home-buyers are allow to pay the houses price after the houses completed, it is less financial burden to the home-buyers during the construction stage. In BTS development, the SP Agreement gives the legal protection to the home-buyers on price guarantee. Since the developers need to complete the houses before sell to home-buyers, the quality and workmanship of the development will be enhanced. If the quality of houses is bad, the complete houses cannot sell out and the developers will sustain the loss of bad quality houses. In the past, the developers adopt STB system as their housing delivery system and there are many houses had a lot of defects and poor workmanship. Some of the developers are dishonest and use low quality materials to build the houses to earn more money. Under BTS system, if a developer builds a low quality house, the home-buyer can decide do not buy it without sustain any loss. Therefore, the quality of houses will be enhanced under BTS system. In addition, developers are required to be more professional and responsible. Under the implementation of BTS system, only the genuine developers will involve in the development field. Since the developers need to sustain most of the development cost during construction stage under BTS system, therefore incapable developers not dare to adopt BTS system. Hence, only developers who has ability and strong in financial will adopt BTS system to build quality houses for home-buyers. This can make the home-buyers increase their confidence in development sector and the market of property can be increased. The implementation of BTS system can reduce the abandoned projects in Malaysia. The main reason that BTS system can reduce abandoned house is unable developers will not involve in development which adopt BTS system as housing delivery system. In the past, some of the developers are unable to continue the development during construction stage. This situation cause the abandoned houses exist especially during economic downturn period. Moreover, the developers who have no intention of completing their housing projects will be ridded from the housing development which adopt BTS system. The developers only can obtain financial support from financial institution during the construction stage, they have no chance to run away with the payment made by home-buyers. If the developers have no intention to complete the projects, they will lose capital spent in the housing project. The home-buyers no need to worry when they buy a house under BTS system. This is because the developers will build good quality houses and build according to the specifications in the brochure. Additionally, the certificate of fitness is obtained before home-buyers make the payment for the house, therefore they no need to worry about being cheated by developer when they buy the houses under BTS system. Therefore, the BTS system should be implemented without any further delay to protect home-buyers interests and active property market. The Problems Faced in The Implementation of Build-Then-Sell System The BTS system is a new concept in housing delivery system for stakeholders in Malaysia, so there are less implement mechanisms and policies in Malaysia to expedite the implementation of BTS system (Nor Aini Yusof, 2009). Majority of the developers feel that the government is also not very clear with the concept of BTS system because the government has simply introduce the idea of BTS system without prepare a proper mechanisms for implementation of BTS system. For an example, MLHG prepared the guidelines for 10:90 model only, but did not prepare the guidelines for other model. The stakeholders have argued that the government should prepare proper procedures and guidelines for all BTS variants but not only for 10:90 system. Again, the policy makers include the central government, state government and local authorities should cooperate to promote BTS implementation and address administrative and procedural issues to smooth the functioning of BTS system. Moreover, the government offer the incentives for developers who implement full BTS system or 10:90 system only. These incentives will not help to encourage developers to adopt other BTS model and the developers will prefer to adopt STB system under this scenario. Although the government offer the incentives to motivate developers to implement BTS system, however there is negative response to the incentives. The incentives are not attractive enough to influence developers in adopting BTS because the unclear procedures and uncertainty of application process make the developers feel that the incentives were not worth for them to apply. Therefore, the government should address the procedures and application process clearly and offer the incentives to those developers who implement other BTS variant. Another problem faced by developers who adopt BTS system is a proper monitoring system does not exist in Malaysia. Many parties claim th

Carl Friedrich Gauss Essay -- essays research papers fc

Carl Friedrich Gauss Gauss, Carl Friedrich (1777-1855). The German scientist and mathematician Gauss is frequently he was called the founder of modern mathematics. His work is astronomy and physics is nearly as significant as that in mathematics. Gauss was born on April 30, 1777 in Brunswick (now it is Western Germany). Many biographists think that he got his good health from his father. Gauss said about himself that, he could count before he can talk. When Gauss was 7 years old he went to school. In the third grade students came when they were 10-15 years old, so teacher should work with students of different ages. Because of it he gave to half of students long problems to count, so he in that time could teach other half. One day he gave half of students, Gauss was in this half, to add all natural numbers from 1 to 100. 10 year old Gauss put his paper with answer on the teacher's desk first and he was the only who has got the right answer. From that day Gauss was popular in the whole school. On October 15, 1795, Gauss was admitted to Georgia Augusta as "matheseos cult."; that is to say, as a mathematics student. But it is often pointed out that at first Gauss was undecided whether he should become a mathematician or a philologist. The reason for this indecision was probably that humanists at that time had a better economic future than scientists. Gauss first became completely certain of his choice of studies when he discovered the construction of the regular 17-sided polygon with ruler and compass; that is to say, after his first year at the university. There are several reasons to support the assertion that Gauss hesitated in his choice of a career. But his matriculation as a student of mathematics does not point toward philology, and probably Gauss had already made his decision when he arrived at Gottingen. He wrote in 1808 that it was noteworthy how number theory arouses a special passion among everyone who has seriously studied it at some time, and, as we have seen, he had found new results in this and other areas of mathematics while he was still at Collegium Carolinum. Gauss made great discoveries in many fields of math. He gave the... ...ics, astronomy, geodesy, and physics. He must have been as strong as a bear in order not to have broken under such a burden. He distrusted all doctors and did not pay much attention to Olbers' warnings. During the winters of 1852 and 1853 the symptoms are thought to have become more serious, and in January of 1854 Gauss underwent a careful examination by his colleague Wilhelm Baum, professor of surgery. The last days were difficult, but between heart attacks Gauss read a great deal, half lying in an easy chair. Sartorius visited him the middle of January and observed that his clear blue eyes had not lost their gleam. The end came about a month later. In the morning of February 23, 1855 Gauss died peacefully in his sleep. He was seventy-seven years old. BIBLIOGRAPHY Gindikin, S.G., Stories about physicists and mathematicians, Russia, Moscow, "Nauka", 1982 (in Russian). Hall, T., Carl Friedrich Gauss, The Massachusetts Institute of Technology, 1970. Muir, Jane, Of Men and Numbers: The Story of Great Mathematicians. Dodd, Mead, and Co, New York, 1961.

Whitman and Neruda as Grassroots Poets Essay -- Poet Poetry Poem Paper

Whitman and Neruda as Grassroots Poets â€Å"The familial bond between the two poets [Walt Whitman and Pablo Neruda] points not only to a much-needed reckoning of the affinity between the two hemispheres, but to a deeper need to establish a basis for an American identity: ‘roots,’ as Neruda referred to his fundamental link with Whitman† (Nolan 33). Both Walt Whitman and Pablo Neruda have been referred to as poets of the people, although it is argued that Neruda with his city and country house, his extensive travels, and his political connections, was never really â€Å"one† of the mass. Nonetheless, his work and energies went into supporting the common working man, and not the elite. By the late 1940’s Neruda had openly defined himself as a communist, looking for the equal treatment of all citizens of Peru. Whitman, though not overtly political like Neruda, did emphasize the equality between all in his writing. The appellation, â€Å"poet of the people,† is used to indicate their sympathies towards a commonality in humans, if not the â€Å"common man†. As the term â€Å"commoner† carries various connotations and needs much explaining, I prefer to discuss the two authors as grassroots poets. â€Å"Poets of the people† and â€Å"grassroots poets† have many similarities, but b y using the term grassroots I draw on grassroots theater studies which illuminate certain artistic purposes and themes. Thinking of Whitman and Neruda as grassroots poets can deepen our understanding of their personas and their work, and especially indicate a similarity of purpose between the two poets who employed different structural styles of writing. First and foremost, the term â€Å"grassroots† hinges on a sense of community. It implies a political motivation from the bo... ...nity theatre is to create a dialectic between the present state and future possibilities of particular communities, moderated by a knowledge of, and an identification with, those communities† (Kershaw, 61). With this basic understanding of â€Å"grassroots† with in the context of community theater, let us proceed to a comparative study of grassroots sentiments in excerpts from Neruda’s The Heights of Macchu Picchu, and Walt Whitman’s Song of Myself. Go to analysis Works Cited: Kershaw, Baz. The Politics of Performance. Radical Theatre as Cultural Intervention. New York: Routledge, 1992. Nolan, James. Poet-Chief. The Native American Poetics of Walt Whitman and Pablo Neruda. Albuquerque: University of New Mexico Press, 1994. Whitman, Walt. Leaves of Grass (1855). in Walt Whitman Poetry and Prose. New York: The Library of America, 1996.

Importance of Slavery to the Caribbean Essay -- History Slave Slavery

Importance of Slavery to the Caribbean The significance of the role played by slaves in the history of the Caribbean cannot be overemphasized. Nearly everything that defines the Caribbean today can be traced back to the advent of Africans to the sugar plantations several centuries ago. For this reason it is impossible to ignore the issue of slavery when studying the history of the Caribbean, as we are doing in this class. Through our numerous readings on the status of slaves and their treatment by the societies in which they lived, we have learned much about the sufferings and ordeals of these people. The following is an attempt to organize my own particular feelings and reactions, which I have previously posted on-line throughout the course of the semester, to the readings on this subject and to the reactions of other students as well. Imperialism, Plantation Slavery and the Slave Trade: 16th-18th Centuries It is interesting to note the ever-increasing reliance on slaves as the transition to sugar plantations not only occurred but also proceeded to become the main form of economic activity in the Caribbean in the seventeenth and eighteenth centuries. When the main crop out of the Caribbean was tobacco products in the sixteenth and early seventeenth centuries, the slave trade was non-existent. But when this crop failed, in addition to ginger, coffee and others, the inhabitants began to try sugar. This, of course, took off immediately, and the need for slaves became imperative. Thus began the true slave trade from Africa, which would forever alter the demography of the Americas. Also interesting to see are the two forms of non-exploitation society that thrived (contrary to European desire) in the Caribbean: the Maroons ... ...e, no present-day obstacle could stand in their way. The religion, skin color, music and culture of the Caribbean are all based on the difficult past of its people. Despite the rampant poverty that still plagues the region today, many of the people seem strangely content and remain optimistic. This alone speaks volumes about the strength of character these people project. It is a lesson for the rest of the world to learn from. Happiness is far more important than any material goods or trivial pursuits that we will ever pursue. It is certainly something that I will take away from this class, and I hope others do as well. Sources Beckles, Hilary and Shepherd, Verene. Caribbean Slave Society and Economy; The New Press (New York, 1991). Knight, Franklin W. The Caribbean: The Genesis of a Fragmented Nationalism (2nd ed.); Oxford University Press (New York, 1990).

Pip’s family Essay

In chapter one of the story we discover that Pip’s family is deceased, well apart from his sister. They all died from common diseases like flu and measles and other illnesses which some were treatable but, medicine was not affordable for the poor. The social conditions in the nineteenth century were unfortunate. There wasn’t much medicine and there were no cure for common diseases and there was a lot of poverty, poor people had to work which includes children working in factories, there wasn’t in the least of education for the poor. This all tells us that life was hard to live in Britain in the nineteenth century if you were poor. Today in Britain it is greatly different, there is less poverty, more education, affordable prices for medicine, children don’t need to work to support there family, also there is the NHS health service and there is child benefit along with income support. Pip encounters an escaped convict when he goes to see his mother’s grave. Pip was petrified when he saw this convict; he was an enormous man and was chained up to his legs. In those days all convicts were known as murders so when Pip met him he was horrified. Then the convict forces Pip to bring food to eat and a filer to break lose from the chains on his hands and legs. In Pip’s village the standard of education was important but the poor often couldn’t afford it. Only the rich and wealthy families were able to afford education. Poor people weren’t expected to get educated in Pip’s village. Pip was expected to work and support his family when he was older. Pip wanted to become a black smith like Joe. Charles Dickens wants to create a miserable impression about education among the working classes. He wants to show how unfortunate children were in the working classes as they can not get any education and had to support there families. The children of wealthier families received different standard of education from the poorer families. They weren’t amongst the working classes, they didn’t need to work to support there families they could afford education as well as medicine, which means that life wasn’t bad for rich and wealthy families. Joe and Pip are extraordinarily good friends Because Joe is a fully grown man and Pip is a youngster and there relationship is very secure and close, they can talk to each other in confidence, can keep secrets from each other and support each other in any way. Joe had an extremely dreadful childhood he suffered from a lot of violence from his dad as he gave a great deal of pain to Joe and his mother by beating them. Joe’s dad was constantly drunk also, they were suffering from poverty. Joe explains his father and childhood to Pip. He tells him about the violence he suffered from his father this makes Pip feel uncomfortable and sorry about Joe. â€Å"†¦I was not at all at my ease†¦Ã¢â‚¬  this is how Pip felt, he felt anxious and confused when the time was up to go to Miss Havisham’s house for the arrangement. At the gates of the Satis house Pip met Estella. Estella treated Pip awfully bad. She kept on calling him â€Å"†¦boy†¦Ã¢â‚¬  at the end of her every sentence, this was very impolite and rude. By Estella’s words and actions it made Pip feel like someone not to be complimented at even for this Pip had feelings for Estella. Estella knows that pip comes from a poor social background. She feels that he is someone that has no education and manners so she speaks to him very rudely by calling him not by his name but by â€Å"†¦boy†¦Ã¢â‚¬  at the end of every sentence. When Pip left the Satis house he felt like a â€Å"†¦common labouring-boy†¦Ã¢â‚¬  and felt more ignorant because he cried in front of Estella at the gates of the Satis. Pip was very irritated by the way Joe was dressed, which it was in his Sunday clothes and he also was irritated when Joe’s behaviour was very embarrassing during their meeting with Miss Havisham. Joe was trying to act smart and act like a gentleman but he made things worse by tying to say big words like â€Å"Astonishing† but he said it all wrong he said it like â€Å"†¦as-TON-ishing†¦Ã¢â‚¬  this made Pip feel more irritated and Nervous. When Joe was speaking to Miss Havisham he was addressing to Pip, Pip was trying to give him a clue to stop Joe from looking at him and to look at Miss Havisham when speaking to her but Joe was to dense to notice. This all is showing us that Pip’s attitude changes towards Joe; he starts feeling ashamed about Joe because he showed out Pip’s social and financial life at the meeting with Miss Havisham by the way he speaks and dresses. I don’t think Pip should have felt this way because Joe is his close friend and he should not change his feelings and actions towards Joe just because he gets irritated at him. Now we can see that Pip’s social life and poverty is affecting his own character.

Essay on Multinational Companies Essay

Multinational companies are giant firms with their origin in one country, but their operations extending beyond the boundaries of that nation. For reasons of marketing, financial and technological superiority, these multinationals are generally considered as a sine qua non of the modernisation of an economy. They have been responsible for the rapid economic liberalisation in India in 1991, the question of the entry of multinational corporations (MNCs) has assumed significance. Multinationals corporations, mostly from the United States, Japan and other industrialised nations of the world, have en ­tered our life in a big way. Foreign investment proposals and commercial alliance have been signed on an unprecedented scale, thus giving rise to the controversy whether these multinational corporations are our saviours or saboteurs. This is so because of the vital difference between the economies of developed and developing nations. This requires that the entry of multinational corporations in India be examined from this angle. According to A.K. Cairn cross, â€Å"It is not possible to buy development so cheaply. The provision of foreign capital may yield a more adequate infrastructure, but rarely by itself generates rapid development unless there are already large investment opportunities going a begging That is why the intervention of multinational corporations is imperative in the context of the economic growth and modernisation of developing economies where ample investment avenues lie open and yet due to lack of capital and technical know-how, these potentials remain unexploited. Multinational corporations help in reorganising the economic infrastructure in collaboration with the domestic sector through financial and technical help. If we consider the case of our country immediately after Independence, ours was an agrarian economy with a weak industrial base and low level of savings. â€Å"Though the public sector was supposed to cure these ills, with problems like paucity of funds, lack of technical know-how and other amenities, it seemed an impossible proposition. Hence, the help of multinational corporation was sought in terms of fi ­nance and technology. As a consequence of the public sector multinational corporation nexus, from a miniature one, the Indian industrial economy assumed colossal dimensions and India is considered one of the most industrialised nations of the world today. However, there is another school of thought, which de ­nounces multinationals as an extension of imperialist power and potency source of exploitation of the Least Developed Countries (LDCs) by the developed economies of the world. According to them, MNCs are an expensive bargain for a developing economy from the foreign exchange point of view. These days when developing countries are struggling with massive foreign debts and their development plans are held up due â€Å"to paucity of funds† .this may be considered a serious drawback. Second, multinationals evade paying taxes in most countries by concealing profits. Government agencies entrusted with the task of collecting the taxes and scrutinising their accounts are often bluffed by them as they do not know enough about the industries they are asked to deal with. Third, multinationals often provide inappropriate technol ­ogy to the developing nations. The technology provided by them is very often too sophisticated to adopt or too absolute by international standards. Further, transfer to technology in accordance with resource endowment of LDCs involves high cost and this may prevent MNCs from transferring appropriate technology to these countries. Fourth, some of the evils of the multinationals emanate out of their  oligopolistic character. Collision is the main determinant of its price policy, which ensures profit at the cost of high level of consumption at a lower price. Even the impact of high productivity brought about by them through the technology-cal advancement is not conducive to the working class because of pre-determined level of profit under oligopolistic criterion. Fifth, concentration of economic power is the main charge against MNCs.This economic power is often used to distort national politics and international relations by multinationals. These enterprises build up a power entity of their own. They never hesitate in exploiting the social and political weakness and economic backwardness of the LDCs to their own benefit. A multinational corporation is neither a saviour as its pro ­tagonists claim, nor a saboteur as its detractors make it out to be. It is a mix of virtues and vices, boons and banes. Charges levelled against multinationals are serious, yet it also remains a fact that, despite all these disastrous consequences of their working, multinationals have emerged as the most dominant institutions of the late twentieth century. As such, third world countries in general, and India, in particular, will have to deal with multinationals despite their ugly designs. The Government must, therefore, have an optimally bal ­anced policy towards MNCs after weighting the various pros and cons of the issue. It would not go for foreign collaboration in areas where adequate Indian skills and capital are available. Whenever the need for foreign collaboration is felt in areas of high priority, emphasis should be on purchasing outright technical know-how, technological skills and machinery. But only if this is not possible, should MNCs be allowed to operate in India? Once these safeguards are taken, multinational corpora ­tions will give an uplift to national economy by bringing in quality goods and services to the country. They will reward enterprise and talent; the inefficient would, of course, have no place in the new scheme of things. Hence, the hue and cry by interested party, who, dub MNCs as saboteurs. Multinational corporations will demand efficiency, punctuality and dedication things which are deadly lacking in national life today. They will demand a certain work culture from the employees as well as the employers besides offering the best of goods and services to their clientele. They should, therefore, be viewed as saviours of national economy rather than saboteurs because we have seen where our previous policies, have landed us right at the bottom of the list of industrialised nations. The economy has steadily picked up since the liberalisation measures were introduced. This must ‘continue if we are to emerge as a global economic power in the next century. And multinational corporations are the only answer.