A Renaissance Timeline With Major Events

Evaluation Of A Qualitative Research Design Essay

CHAPTER THREE 3.0 METHODS AND MATERIALS 3.1. STUDY DESIGN A descriptive qualitative research design (Beck 2012)(Polit Denise F and Beck 2012) was used to explore postnatal mothers and nurse-midwives perceptions and experiences on birthing positions. The design enabled the researcher to gain a deep understanding of the women and midwives perceptions and experiences on birthing positions assumed by women during labour and delivery. It was an explorative using semi-structured interview which allowed the researcher to explore the in-depth, rich information. The design allowed the participants to describe their perceptions and experiences in depth (Beck 2012) (Polit Denise F, and Beck, 2012). 3.2. STUDY SETTING The study was conducted at Mugana Designated District Hospital, Missenyi District in Kagera Region. Mugana DDH is the referral hospital for Missenyi district apart from being referral district hospital it receives patients and clients from a nearby country like Uganda also nearby regions like Mwanza, Geita, and Shinyanga due to its quality services both in maternal and medical care. The hospital has various departments and it has a bed capacity of 140 beds. Labor ward has 7 delivery beds with a total of 120 deliveries per month. About 40 pregnant women attend an antenatal clinic for check-ups per month whereas about 65 mothers attend a postnatal clinic for postnatal checkups. Staffing level at maternity is 36. 30 midwife works at the maternity ward and 6 midwives at RCHShow MoreRelatedQuestions On Quantitative And Qualitative Research964 Words   |  4 PagesOther Approaches to Research In the 20th century researchers developed other research designs that draw on quantitative and qualitative elements. Mixed methods, action research, and program evaluation follow the research design process of quantitative and qualitative research. Action research and program evaluation however are not applied research designs. Mixed Methods As the name implies, mixed methods research combines both quantitative and qualitative components to add depth and breadthRead MoreAn Evaluation Of The Course Review828 Words   |  4 PagesAn evaluation of the course review reveals that there is an ethical ridge that many run along when attempting to conduct qualitative research. The IRB (Institutional Review Board) was ordained into federal law to maintain the sanctity and protection of research involving human research subjects. The rules prescribe that an evaluation must realize any potential, hazards, risks both physical and psychological that can occur during the study. The IRB review board (OHRP) *see references, must reviewRead MoreThe Overall Evaluation / Research Strategy Or Design?1543 Words   |  7 PagesSection 1: Action Research What is the overall evaluation/research strategy or design? The article that was selected is, â€Å"Assessing the impact of a year-long faculty development program on faculty approaches to teaching†, by Light, Calkins, Luna, Drane (2009). The design is action research. Why is this type of strategy or design selected for this study? This design was selected because action research is a process and the seven-step process was initiated in the development of the design selected. ThereRead MoreThe Role Of Qualitative Research On Sports And Physical Activity Among Rural Adolescent Girls Essay886 Words   |  4 Pagesone analyzes and judges achievements and adequacy, one is occupied with evaluation. At the point when this examination of viability is directed efficiently and observationally through cautious information gathering and keen investigation, one is occupied with evaluation research. The mission of understanding the information that is being evaluated and judged refers to qualitative research (Patton, 1990). Furthermore, qualitative study breaks down information from direct observation from the field,Read MoreUsing Qualitative And Qualitative Research1069 Words   |  5 PagesThe authors argue that mixed methods sampling with well-established qualitative and quantitative techniques can answer the research q uestion in health sciences posted by mixed methods research designs in a new way. And data collection procedures for the mixed methods designs should based on concurrent and sequential forms of data collection, in order to make sure that the qualitative results can explain and interpret the findings of a quantitative study, and meanwhile, mixed methods are used to overcomeRead MoreQualitative Research And Analysis : Research791 Words   |  4 PagesThe purpose of research is to add substance to a body of knowledge. The success of the research may be misleading at times or may only add a conclusion to some extent. Knowing the structure of the research will help the researcher as well as the reader discover meaning. The qualitative research sets itself in the midst of an individuals or groups of objects or â€Å"stuff† to capture an overview of logical or explicit rules by an understanding of isolated themes about the themes (Miles, HubermanRead MoreUsing Teacher Evaluatio n Tools For Teaching And Learning Essay1524 Words   |  7 Pages2013). Notably, in 2009, a report by the name The Widget Effect was released by The New Teacher Project (TNTP). The report exposed the prevailing teacher evaluations as both infrequent and largely subjective (Jerald, 2012). Similarly, the attention towards the effectiveness of teacher evaluation is fairly new after decades of using teacher evaluation tools that have been noted to provide little or no useful information regarding the technical core of teaching (Harris, Ingle and Rutledge, 2014). ConsequentlyRead MoreTeacher Assessment And Assessment913 Words   |  4 Pagesskills to manipulate data to answer questions of interested to them. Capacity issues did not only related to the technological capacity of educators and their ability to use computer software to run analyses but also to competences such as formulating research questions, isolation of relevant data outputs, interpreting results and effectively develo ping and using classroom assessments (Marsh and Ikemoto, 2006). Instructional leaders ought to know how to use data and evidence to inform decisions associatedRead MoreEvidence-Based Decision Making800 Words   |  4 Pagesmaking to create new practices, 6, the description of evaluated evidence-based decision making to create new practices suggest that information can be gathered from other sources, such as questionnaires, can be utilized to create new practices. Qualitative Data Collection – This assignment discussed how adult learners need to make a correlation between previous learning experiences with new learning experiences to be confident in their learning. This can be accomplished through evaluate evidenced-basedRead MoreResearch Methodology Used For Research1207 Words   |  5 PagesResearch Methodology Introduction This chapter discusses the methodology used for this research. Describing type of methodology in research study and define the chosen method and approach for this research. Then, the outline of research strategy used, framework this research conducted and data sources collected to obtain valid and reliable research as the objective determined. Review of Research of Methodology Broadly speaking, there are several purpose of research. It depends on the objective

Las Vegas Resort Project Free Essays

Project Final Lake Las Vegas Boardwalk Resort Tourism You are a member of a firm that specializes in the development of world-class resort hotels around various parts of the world. A client has hired your firm to create a report and recommendations for a new resort somewhere in the United States. Course Project Lake Las Vegas Boardwalk Resort Development planning A boardwalk signifies relaxation and ente rtainment. We will write a custom essay sample on Las Vegas Resort Project or any similar topic only for you Order Now What better place to build a fabulous boardwalk entertainment village than in the tourist capital of America beautiful Las Vegas, NV, to be more specific, Lake Las Vegas. This is a lush lakeside retreat located only 15 minutes east of the famous â€Å"Las Vegas Strip. † It is surrounded by natural red rocks and borders the Lake Mead Recreational Park. Several other hotels have already graced this manmade lake along with two award winning golf courses, and gourmet restaurants and exquisite shopping. Currently, there are two lakeside parcels remaining with great frontage and access to the shops and golf as well as many aquatic activities including sailing, fishing, canoeing, and small boating. Development of the structure would be made through a partnership with Lake Las Vegas LTD, the chief land owner within this region. We feel that with a strategic partnership with the land owner, in the form of a land lease, our overall build-out costs would be drastically reduced and would yield pleasant tax incentives for this form of business structuring. We aim to build a traditional boardwalk style entertainment center complete with amusement hub and retail shops to add to the atmosphere. We also are planning on building a freestanding roller coaster, Ferris wheel, and Merry-Go-Round to add in to the boardwalk theme. An artist rendering of our anticipated plans would look something like this. There were nearly 40 Million visitors to Las Vegas in 2012, bringing a total of $9. 5 Billion in gaming revenue to Clark County. These figures are poised to increase steadily through 2020 and this doesn’t even take into consideration the added revenues from hotels, restaurants, and retail shops. We can bring a little slice of a vacation retreat and truly make this a desert oasis. Environmental impact The Greater Las Vegas Valley is located in southern corner of Nevada. It lies bounded on the west by several mountain ranges and drains a 1,564-square-mile watershed southeastward through Las Vegas Wash into Lake Mead. Lake Mead, was created hen in the 1930’s the Hoover Dam, was built in a section of the Colorado River creating what is now the largest reservoir in the US. This reservoir receives water runoff from the Rocky Mountains throughout Wyoming, Colorado, and Utah. Lake Las Vegas is currently another manmade offshoot of Lake Mead and developed for the purpose of becoming a master planned community. The water used is diverted through piping upwards throughout the community for reasons such as usage in homes and business for drinking water as well as the reclaimed water is then used for landscaping golf courses as well as watering the additional plants and shrubbery n the region. As for the wildlife in the region, it has all been preserved as natural for the area. There is also an assortment of water fowl, which can be seen flying about the area due to the lush creation ot this oasis. Complete intrastructure nas already been developed and is awaiting further investment potential. The addition of our boardwalk entertainment complex would be a welcome fit to this existing lakeside resort town. Sociological impact Since its inception as a gambler’s paradise, close to the Mecca of Los Angeles, CA back in the mid 1940’s, Las Vegas has developed into more of a normal metropolis with a liberal attitude. The gambling, alcohol and partying has grown Las Vegas into a town with two sides; one with the entertainment â€Å"anything goes† attitude and the other where suburbia can flourish with schools, hospitals and regular employment. The Las Vegas Metro area now encompasses a population of nearly 2 million, and is still growing. IT has its economic downturns as the rest of the country also does, yet it seems to bounce back as much of the revenue coming through this area is transient from elsewhere. Las Vegas as of recently has developed into more of a family friendly location complete with Amusement theme parks, water parks and utdoor activities for children. It is this atmosphere we are tapping into, with our devotion to amusement and excitement with a boardwalk relaxing atmosphere. Economic feasibility and Market With the aforementioned nearly 40 million tourists last year bringing with them their 9. 5 Billion in gambling revenue, along with other spending capital it is only logical to use this location as a prime target location for our boardwalk concept. The tourism industry has recovered pleasantly from the most recent recession and Las Vegas has shot back into action with three additional planned themed resort casinos being built n or near the Las Vegas Strip within the next 5 years. The competition is booming and with it comes a necessity for action. The future expansion planning within the Las Vegas Area calls for additional development of highway roads, as well as further expansion of the current monorail system within the strip-downtown gambling corridor leaving more expansion available to the surrounding areas. Our Lakeside resort is begging for attention and we aim to Jump in first with our themed attraction. Management and maintenance Our boardwalk hotel is patterned after the popular Kemah Boardwalk Inn, located in Galveston TX. This regional attraction has been in operation since 1997 and is only growing in popularity with both Texas residents as well as visitors to the Galveston Bay. By comparison, the Kemah location has only 52 rooms and is more dependent upon seasonal tourist business, whereas our Lake Las Vegas location will be twice the size with over 115 rooms and the ability to remain busy with both tourists and locals alike all around the year. It is with this main difference as well as the addition ofa fully operational casino floor which will allow our operation to flourish and become prottable within the first 6-8 years. How to cite Las Vegas Resort Project, Papers Las Vegas Resort Project Free Essays Tourism You are a member of a firm that specializes in the development of world-class resort hotels around various parts of the world. A client has hired your firm to create a report and recommendations for a new resort somewhere in the United States. Course Project Lake Las Vegas Boardwalk Resort Development planning A boardwalk signifies relaxation and entertainment. We will write a custom essay sample on Las Vegas Resort Project or any similar topic only for you Order Now What better place to build a fabulous boardwalk entertainment village than in the tourist capital of America beautiful Las Vegas, NV, to be more specific, Lake Las Vegas. This is a lush lakeside retreat located only 15 minutes east of the famous â€Å"Las Vegas Strip.† It is surrounded by natural red rocks and borders the Lake Mead Recreational Park. Several other hotels have already graced this manmade lake along with two award winning golf courses, and gourmet restaurants and exquisite shopping. Currently, there are two lakeside parcels remaining with great frontage and access to the shops and golf as well as many aquatic activities including sailing, fishing, canoeing, and small boating. Development of the structure would be made through a partnership with Lake Las Vegas LTD, the chief land owner within this region. We feel that with a strategic partnership with the land owner, in the form of a land lease, our overall build-out costs would be drastically reduced and would yield pleasant tax incentives for this form of business structuring. We aim to build a traditional boardwalk style entertainment center complete with amusement hub and retail shops to add to the atmosphere. We also are planning on building a freestanding roller coaster, Ferris wheel, and Merry-Go-Round to add in to the boardwalk theme. An artist rendering of our anticipated plans would look something like this. There were nearly 40 Million visitors to Las Vegas in 2012, bringing a total of $9.5 Billion in gaming revenue to Clark County. These figures are poised to increase steadily through 2020 and this doesn’t even take into consideration the added revenues from hotels, restaurants, and retail shops. We can bring a little slice of a vacation retreat and truly make this a desert oasis. Environmental impact The Greater Las Vegas Valley is located in southern corner of Nevada. It lies bounded on the west by several mountain ranges and drains a 1,564-square-mile watershed southeastward through Las Vegas Wash into Lake Mead. Lake Mead, was created when in the 1930’s the Hoover Dam, was built in a section of the Colorado River creating what is now the largest reservoir in the US. This reservoir receives water runoff from the Rocky Mountains throughout Wyoming, Colorado, and Utah. Lake Las Vegas is currently another manmade offshoot of Lake Mead and developed for the purpose of becoming a master planned community. The water used is diverted through piping upwards throughout the community for reasons such as usage in homes and business for drinking water as well as the reclaimed water is then used for landscaping golf courses as well as watering the additional plants and shrubbery in the region. As for the wildlife in the region, it has all been preserved as natural for the area. There is also an assortment of water fowl, which can be seen flying about the area due to the lush creation of this oasis. Complete infrastructure has already been developed and is awaiting further investment potential. The addition of our boardwalk entertainment complex would be a welcome fit to this existing lakeside resort town. Sociological impact Since its inception as a gambler’s paradise, close to the Mecca of Los Angeles, CA back in the mid 1940’s, Las Vegas has developed into more of a normal metropolis with a liberal attitude. The gambling, alcohol and partying has grown Las Vegas into a town with two sides; one with the entertainment â€Å"anything goes† attitude and the other where suburbia can flourish with schools, hospitals and regular employment. The Las Vegas Metro area now encompasses a population of nearly 2 million, and is still growing. IT has its economic downturns as the rest of the country also does, yet it seems to bounce back as much of the revenue coming through this area is transient from elsewhere. Las Vegas as of recently has developed into more of a family friendly location complete with Amusement theme parks, water parks and outdoor activities for children. It is this atmosphere we are tapping into, with our devotion to amusement and excitement with a boardwalk relaxing atmosphere. Economic feasibility and Market With the aforementioned nearly 40 million tourists last year bringing with them their 9.5 Billion in gambling revenue, along with other spending capital it is only logical to use this location as a prime target location for our boardwalk concept. The tourism industry has recovered pleasantly from the most recent recession and Las Vegas has shot back into action with three additional planned themed resort casinos being built on or near the Las Vegas Strip within the next 5 years. The competition is booming and with it comes a necessity for action. The future expansion planning within the Las Vegas Area calls for additional development of highway roads, as well as further expansion of the current monorail system within the strip-downtown gambling corridor leaving more expansion available to the surrounding areas. Our Lakeside resort is begging for attention and we aim to jump in first with our themed attraction. Management and maintenance Our boardwalk hotel is patterned after the popular Kemah Boardwalk Inn, located in Galveston TX. This regional attraction has been in operation since 1997 and is only growing in popularity with both Texas residents as well as visitors to the Galveston Bay. By comparison, the Kemah location has only 52 rooms and is more dependent upon seasonal tourist business, whereas our Lake Las Vegas location will be twice the size with over 115 rooms and the ability to remain busy with both tourists and locals alike all around the year. It is with this main difference as well as the addition of a fully operational casino floor which will allow our operation to flourish and become profitable within the first 6-8 years. We are tentatively with contacts from regional Hotel management companies as well as casino managements for partnerships in our operations. We see the necessity to have this run like a four star hotel but with the relaxed nature of a holiday theme park with a casino. For our purposes of this project we are leaning toward Harrah’s Management Company. Harrah’s has the experience and technical know-how to handle all aspects of this venture and we would be pleased to have them as a strategic alliance. As for the financials we have developed a nice breakdown which will follow, but to begin, we are creating a budget for a hotel with 115 rooms to cost in the neighborhood of $22 million, additionally we will purchase a Roller Coaster, Ferris wheel and Merry-Go Round to cost an additional $3 million and the boardwalk construction build-out of approximately $5 million. This will all be financed with competitive commercial rates at 8.5% interest rate amortized over 30 years, with a balance due in 5 years. This is a standard financial package available through most commercial banks. We anticipate the retail shops and food establishments to be leased out with a competitive lease based upon the size, and location of the shop as well as with an additional gross revenue % additive. This is also standard for commercial leases in this arena. We hope to garner at least two separate nationally competitive restaurant chains leaving a final place for an independent to keep us fresh. As for the shops, these will all be leased as a first-come first-serve basis and will be contingent upon fitting in with the established atmosphere. As you can see based upon our pro-forma figures there will be plenty of room remaining for additional revenue generation as well as for advertising. We also plan to pay of the underlying note quicker than the banks anticipate. This will save us thousands in financing and interest charges. We do not currently have any interesting in additional properties as this property will undoubtedly require future planning and development to keep the theme fresh and popular with the tourists. Landscape architecture and structural architecture As for the design and layout of the building, an anticipated concept is located here. It will be a seaside structure with the balconies facing both the lake as well as the entertainment center. Every room will have a view of the activities below and the lake activities. The Roller Coaster and Ferris wheel will be placed directly adjacent to the boardwalk and the hotel as to not defray from the majestic view of the boardwalk. The first floor of the building however will be the shops and restaurants with patios jetting from them into the boardwalk for more of a seaside feel. The lower portion closer to the Lake will hold the Merry-Go- Round as well as additional seating for live entertainment, whether it be musical groups or live performing magicians and street performers. However from the top of the Ferris wheel, we are anticipating views clear out to the city lights of Las Vegas and to include the â€Å"Strip.† Interior design and decoration The interior and dà ©cor of the hotel will accompany that of the theme, it will be of a nautical feel with black and white portraits of classic carnival settings. Many of these carnival and boardwalk photos will be of the tourists home towns which will add to a sense of realism and personalization. Light blue or yellow and whitewash trim will be the main color scheme while allowing a sprinkle of color to pop where the exciting locations are to be showcased. The interior of the rooms will also be stylized to transport the guest to a seaside location where fun relaxation and entertainment will be abundant. We plan to have several aquariums located throughout the property where different sea creatures can complete the full package. Some of the fish we plan on bringing in would be from the west coast and much will be from the East Coast and Gulf of Mexico, we may even bring in some sharks to place in a tank behind the lobby bar. This will be simply to add to any realism of seaside adventure. How to cite Las Vegas Resort Project, Papers

Leadership Value of the Experience

Question: Discuss about theLeadershipfor Value of the Experience. Answer: Introduction Leadership refers to the process of guiding a group of people towards a particular direction for the purpose of achieving certain predetermined goals .Leaders are supposed to influence other peoples behavior in a certain direction .Leaders create a vision, motivate people towards that vision and offer training and coaching to their subordinates for the purpose of achieving the vision (Flynn, 2008). Value of the Experience The subject has had significant impact on me. It has introduced me to a wide range of skills and knowledge regarding the whole concept of leadership. Among the values of this experience is that I have been able to know the importance that leaders play in organizations. Without leadership employees are likely not to work optimally. I have learnt that Employees need leadership to offer them motivation for them to maintain high standards of performance. Leadership is also necessary to show employees direction and inspire them to do their best in order to achieve their personal as well as organizational goals (Pullan Archer, 2013). The experience has also enabled me to know that strong leadership in an organization is a recipe for organizational success. This means that organization that are based on strong leadership and which recognize its support, motivation and other roles to employees as well as their roles to other organizational units has high chances of being successful. Where there is effective leadership, all activities are carried out with guidance and support (Pitino Reynolds, 2009). The subject has also enabled me to know about the role of ensuring strong working relations at the work place. In particular leaders have a responsibility of ensuring that then groups that they lead have a strong bond between them .They are also responsible for ensuring that there is good relationship between the management and the employees by acting as the mediators in employee disputes with the organization .Thy are also responsible for ensuring that there exists a strong relationship between themselves and their organization (O'Reilly, 2015). This has enabled me to know that as a leader I need to be a role model to be emulated by other employees. It has also taught me that as a leader my work is not to dictate what needs to be done by employees but showing direction by being involved in the actual undertaking. It has also taught me that as a leader in need to act with impartiality on matters involving the employees and the management. This particular experience has developed my leadership skills further. The experience has been quite transformative on my thinking regarding my leadership ability. Before stepping into this class I was of the notion that leadership was a preserve for certain individuals within the society. The experience gained in class has however proven to me otherwise. It has played a great role in helping me to realize that even the greatest leaders in history were not born great but they achieved greatness through their repeated actions and determination. It has enabled me to realize that I can also be a great leader if i followed certain rules such as giving a listening ear to my subordinates. Here I am required to give them a chance to speak even if I dont like what they are saying. This is a good strategy for building and strengthening relationships which is an important aspect of leadership. Among other attributes that I have learnt for effective leadership is being a role model, being passionate about ones duties and responsibilities, making strong and firm de cisions for the organization among others. I think this is the case because since I began taking this subject my perception about leaders has greatly changed. In the few months I have been in this class my attitude towards leaders has greatly changed for the better. I have developed a strong desire to become an effective leader and the conviction has been instilled in me that I can be the best regardless of the perceptions I had about leaders as idle people who are there to cause trouble to employees by blaming them for everything that is not working right at the organization. I have also come to appreciate the roles played by leaders in training employees to enable them become more productive and offering them support at all times. The knowledge gained in class has also prompted me to go to interrogate a few successful leaders on what they do to ensure that they remain the best and actually I have come to learn that they all adopted rules like those discussed in class, to become better than they were before.Learning can prov ide a good platform for people to acquire new insights .However, learning alone is not enough. Besides learning, practicing is another step that can ensure what is learnt theoretically is translated into practical examples (Malan Smit, 2007).Everything will begin right from this stage. My first step will be having a self evaluation and interrogating myself on why i want to lead .This evaluation will enable me to have a clear picture of what I really want to achieve so that I can set goals towards the same. After this I will not wait until such a time when i am appointed as a leader in organizations so that I can start utilizing the leadership skills that I have acquired in the class room context. On the contrary I will start practicing them with my peers, my family and fellow students. Inculcation of these skills at an early age will give me an opportunity to internalize them and grow with them in me. I will show leaderships skills to my fellow students by supporting them and actin g in a way that befits a leader towards the people around me. Mentoring the People around me Great leaders are known to be great mentors. Mentorship is the process of offering guidance to less experienced persons intended to make them better or in order to encourage them to overcome certain challenges (Hayward, 2015). My first step will be first seeking to identify people that greatly need some form of mentorship in order to overcome certain pressures that they may be facing or generally people who need mentorship to become better persons. These will either be within the classroom context or outside. I will identify the students that need mentorship group them and meet them regularly to guide and support them .This will present a win-win situation for all of us. The students will win in that they will be able to get motivated to carry on irrespective of their current situations. I will do the same also for people outside school. Such an opportunity will help me to better myself as leader and acquire recognition for the same. Attending Trainings Attending trainings outside the class context will be another strategy that I will adopt. Trainings such as those organized by different organizations or government bodies provide real life situations and chances to interact and learn from great leaders on one on one basis. These platforms can present an opportunity to acquire first hand information from successful leaders. These can provide additional information to what is learnt in the classroom context and make a person acquire more insights regarding leadership. Such insights will be important for ensuring that i become an effective leader in future. Volunteering In will also look for organizations that I can offer my services to free of chance so that I can acquire a firsthand experience of a work place and what happens there. This will also present an opportunity for me to learn from top leaders on the skills and tactics that they employ in order to succeed. Equipped with all this knowledge and first hand experiences, I will therefore consider myself as adequately prepared to take on leadership roles in the future without any challenges. My Approach to Leadership After completing this subject, I have acquired a positive approach towards leadership. As a matter of fact I have realized the important roles that leaders play in organizations. It is not possible to succeed without appropriate forms of leadership in an organization. I have been able to see leaders as decision makes for their organizations. Decisions can be made either on daily, weekly, monthly basis or randomly. These decisions can be critical for the survival of organizations. I have come to appreciate that through the leadership offered by leaders in their organizations, organizations are able to grow and counter challenges that they could be facing. I have also been able to approach leadership as a vision centered undertaking. Basically leaders carry with them the vision of their organization. It is their responsibility to ensure that organizations activities remain geared towards the achievement of its overall objectives and vision (Hasegawa, 2010). References Charan, R., Drotter, S. J., Noel, J. L. (2011). The leadership pipeline: How to build the leadership powered company. San Francisco, Calif: Jossey-Bass. Crossan, M. M., Gandz, J., Seijts, G. H., Stephenson, C., Richard Ivey School of Business. (2010). Cross-enterprise leadership: Business leadership for the twenty-first century. Mississauga, Ont: Jossey-Bass. Flynn, G. (2008). Leadership and business ethics. Dordrecht: Springer. Gallos, J. V. (2008). Business leadership: A Jossey-Bass reader. San Francisco: Jossey-Bass. Gallo, F. T. (2011). Business leadership in China: How to blend best Western practice with Chinese wisdom. Singapore: Wiley. Hasegawa, Y. (2010). Rediscovering Japanese business leadership: 15 Japanese managers and the companies they're leading to new growth. Hoboken, N.J: Wiley Hayward, S. (2015). Connected Leadership. Pearson Education Limited In Hetfield, L. (2016). Juntures in women's leadership: Business. Malan, F., Smit, B. (2007). Ethics and leadership in business and politics. Lansdowne: Juta. O'Reilly, N. D. (2015). Leading women: 20 influential women share their secrets to leadership, business, and life. Pitino, R., Reynolds, B. (2009). Lead to succeed: 10 traits of great leadership in business and life. Pullan, P., Archer, J. (2013). Business analysis and leadership: Influencing change. London: Kogan Page Limited.

Gangs Are A Violent Reality That People Have To Deal With Essays

Gangs are a violent reality that people have to deal with in today's cities. What has made these groups come about? Why do kids feel that being in a gang is both an acceptable and prestigious way to live? The long range answer to these questions can only be speculated upon, but in the short term the answers are much easier to find. On the surface, gangs are a direct result of human beings' personal wants and peer pressure. To determine how to effectively end gang violence we must find the way that these morals are given to the individual. Unfortunately, these can only be hypothesized. However, by looking at the way humans are influenced in society, I believe there is good evidence to point the blame at several institutions. These include the forces of the media, the government, theatre, drugs and our economic system. On the surface, gangs are caused by peer pressure and greed. Many teens in gangs will pressure peers into becoming part of a gang by making it all sound glamorous. Money is also an crucial factor. A kid (a 6-10 year old, who is not yet a member) is shown that s/he could make $200 to $400 for small part time gang jobs. Although these are important factors they are not strong enough to make kids do things that are strongly against their morals. One of the ways that kids morals are bent so that gang violence becomes more acceptable is the influence of television and movies. The average child spends more time at a TV than she/he spends in a classroom. Since nobody can completely turn off their minds, kids must be learning something while watching the TV. Very few hours of television watched by children are educational, so other ideas are being absorbed during this period of time. Many shows on television today are extremely violent and are often shown this from a gang's perspective. A normal adult can see that this is showing how foully that gangs are living. However, to a child this portrays a violent gang existance as acceptable. 'The Ends Justifies the Means' mentality is also taught through many shows where the "goody guy" captures the "bad guy" through violence and is then being commended. A young child sees this a perfectly acceptable because he knows that the "bad guy" was wrong but has no idea of what acceptable apprehension techniques are. Gore in television also takes a big part in influencing young minds. Children see gory scenes and are fascinated by these things that they have not seen before. Older viewers see gore and are not concerned with the blood but rather with the pain the victim must feel. A younger mind doesn't make this connection. Thus a gore fascination is formed, and has been seen in several of my peers. Unfortunately kids raised with this sort of television end up growing up with a stronger propensity to becoming a violent gang member or 'violent- acceptant' person. "Gangs bring the delinquent norms of society into intimate contact with the individual."1, (Marshall B Clinard, 1963). So, as you can see if TV leads a child to believe that violence is the norm this will manifest itself in the actions of the child quite, often in a gang situation. This is especially the case when parents don't spend a lot of time with their kids at the TV explaining what is right and what is wrong. Quite often newer books and some types of music will enforce this type of thought and ideas. Once this mentality is installed in youngsters they become increasingly prone to being easily pushed into a gang situation by any problem at home or elsewhere. For instance, in poor families with many children or upper-middle class families where parents are always working, the children will often feel deprived of love. Parents can often feel that putting food on the table is enough love. Children of these families may often go to the gang firstly out of boredom and to belong somewhere. As time goes on, a form of love or kinship develops between the gang members and the child. It is then that the bond between the kid and the gang is completed because the gang has effectively taken the place of the family. The new anti social structure of cities also effects the ease in which a boy/girl can join a gang. " The formation of gangs in cities, and most recently in suburbs, is facilitated by the same lack of community among parents. The parents do not know what their children are doing for two reasons: First, much of the

African and Native American Slavery essays

African and Native American Slavery essays The 1500's, a time of discovery, was when the Europeans came to dominate most of the New World. The Europeans traveled to Africa and captured Africans to help develop their land and satisfy their need for power. I feel that the treatment of the Indians and Africans by the Europeans was completely unjustifiable. While the Indians and Africans were less technologically advanced and the Europeans were uneducated, in this particular field, nothing can compensate for the actions of the Europeans. As Europeans began to settle new lands they began their exploration of the foreign worlds. What they found was the opposite of what they expected. They found what they thought was a new breed of humans. In reality they were just Native Americans. These Indians were less technologically advanced than the Europeans. They also worshipped different and multiple gods and ate different foods. Europeans saw this as barbaric, so they treated them as In the beginning Native Americans hadn't the faintest idea of what the Europeans had in mind when they said trade. They figured that when the White Man came and showed all that hospitality they meant it. Of course, they didn't, the Europeans captured the Indians to be used as slaves. They were also slaughtered and raped because of resistance to leave their land. If any Indians refused to leave their land they would be killed. The women were raped for sick and disgusting reasons. Europeans didn't feel that the women, or men for that matter, were worth anything as humans so they were beat and raped without any thought about what they might be doing. As we watched the movie Roots, I noticed a part in the movie where they were on a ship and a man brings in a black woman, who was a slave. The man offered her to the ship's captain and referred to her as a belly warmer. That got me to thinking what could be going on in that man's head as he said that...

Katherine Philips and her Works Essay Example | Topics and Well Written Essays - 1000 words

Katherine Philips and her Works - Essay Example Philips detached herself from Presbyterian traditions and admired the king and his church policy. Katherine’s mother married a Welshman called Hector Philips after the death of his father John Fowler. When Katherine was sixteen years old, she married James Philips a Welsh parliamentarian in 1647. James Philips was said to be fifty-four years old. However, there was little conflict between Katherine and her husband on political issues in that Katherine was a royalist and James was a supporter of Oliver Cromwell. This division is recorded in her poetry works. Katherine spent most of her time in London through her husband continued to reside in Wales. Her husband encouraged her literary creativity. Katherine had two children a daughter a son. Katherine founded the society of friends, which originated from the cult in Neoplatonic love imported by Henrietta Maria in 1630 where members acquired pseudonyms from French romances of cavalier dramas. Katherine Philips borrowed these ideas and dramatized it in her society of friendship. The society of friendship existed between 1651 and 166. This society helped Katherine to establish a standard in literary skills for generations as she managed to establish herself as a model for female writers after her death. She was regarded as the apostle of female friendship and this attached great respect to her name. Katherine Philip’s home became the center of the group. Actually, she wrote one hundred and sixteen poems, completed five verse translations, and translated two plays by Pierre Corneille from the French between 1606 and 1684. Her plays were produced in public theaters in both London and Dublin becoming the first female dramatists to have her works produced in public. Phillips did not receive any payment for her work, unlike Alpha Behn who is the first woman to write for the English stage as a professional. Anne Owen was the most important female member of the circle of friendship. She was known as Lucasia in  Philips’s poems.

Organizational strategy Essay Example | Topics and Well Written Essays - 2750 words

Organizational strategy - Essay Example The assessment herein discusses three strategic aspects of GE with application of the academic valuation models. The areas discussed include: Core competencies and capabilities assessment Real options to improve business performance assessment Strategic Options Available For GE Each section will be developed including critical analysis of GE with respect to the assessment tools followed by conclusion. CORE COMPETENCY ASSESSMENT Assessment f business on road of success with competitive advantage from 1980s to 1990s has moved in from capability to empower business layers to developing, exploiting and strengthening core competency of business. De Saa?-Pe?rez and Garca-Falco?n, (2002) established that only resources and capabilities transformed into core competency can develop business competitive advantage (De Wit, & Meyer, 2004). Hence, in line with importance stated for core competency, the section develops assessment for the core competency of General Electric. CORE COMPETENCY Selzni ck (1957) first introduced the concept of core competency as competence with distinction for depicting corporate advantage in various activities (Barney, & Hesterly, 2008). The strategic perspective of core competency was put forward by Hamal and Prahalad (1990). ... xpertise with newer areas in a manner more interestingly than routine framework (Cravens, and Piercy, 2008) TESTS FOR CORE COMPETENCY Firms to retain their competitive advantage must possess distinctive competency that provides business separate positions as against competitors. The simplest test for competency to be core as well as distinctive one is core competency does not finish like physical assets (Grant, 2009). Instead core competencies increase their strength to bind the businesses together. Hamal and Prahalad (1990) core competence as competencies that must following three tests: Core competency must provide business capability to reach wide variety of markets. Competency must pass the litmus test to add value to the perceived benefits by customer through product. Organization to rely on the competency as core competency must enable business to retain their distinctive position in a way that cannot be imitated by competitors (Hamel, 1991; Prahalad, & Hamel, 1994). Resource b ased view also provide a litmus test for strategic capabilities to be regarded as core competency. Barney’s (1991)Â  VRIN model is also taken test for competency of an organization to be regarded as core competency (Gamble, and Thompson, 2010). VRIN model, an acronym, states that core competency must be Valuable, Rare, In-imitable, Non- Substitutability to benefit firm with competitive advantage over competitors (Fleischer, & Benoussan, 2003). GENERAL ELECTRIC’S CORE COMPETENCY General Electric (GE) under Jeff Immelt to position GE for stronger growth planned to reposition business with resources transferred to areas that have stronger growth prospects from business that have already undergone heavy juice extraction. To strengthen value based system, Jeff Immet defined Growth Platforms.

Sonia Sanchez Essay Example | Topics and Well Written Essays - 250 words

Sonia Sanchez - Essay Example She started with Homecoming in 1969 and with the passage of time, created a wonderful collection of child books, dramas and essays. In her sixties, Sanchez, together with her colleagues, actively participated in the black studies movement after black studies were banned in the San Francisco State College. She served as the head of the Afro-American Studies Program in the Amherst College. Sanchez did not ever try to be just an essayist or a dramatist or a poet. She has served as an excellent teacher in addition to these. She made several trips to China, Cuba and Scandinavia. Sanchez is known for a dazzling performative manner. Instead of reading her works like a slow-paced British professor, Sanchez would inculcate the African and African American cadence into the performance. In 1984, her volume, homegirls & handgrenades emerged (Gates, 2004). One year later, Sanchez’s literary skills were appreciated with the American Book Award. She has written 16 books in her lifetime (soni asanchez.net, n.d.). The topics of Sanchez’s poems originated in the societal worries and her articulate manner made them a fundamental source of instigation and tenderization of the Black Arts movement. References: AALBC.com (2011). When one reads Sonia Sanchez, one knows the state of black America. Retrieved from http://aalbc.com/authors/sonia.htm. Gates, H. (2004).

The scope and limitations of Reiss text typology

The scope and limitations of Reiss text typology Reiss translation-oriented text-typology provides a systematic approach to translation. More interestingly, it approaches translation at the text level. This essay will examine Reiss typology with focus on Parting the Waters, published in National Geographic, a monthly magazine that borders on science, geography, history and culture. REISS TEXT-TYPOLOGY Reiss sees translation as an act of communication whereby the translator acts as a medium (secondary sender). This presupposes that a message has to be passed across, from a primary source to a target receiver. The major media are the source language and the target language. The aim here is to produce a target language text that is functionally equivalent to the source language text (Reiss 2000:160). This means the source text should be the consultative point for the translator. In order to achieve this functional equivalence, Reiss proposes a functional approach of text-typology. This approach takes into account the major communicative function of a source text as a basis for translating into the target text. In other words, a target text that does not have the same function as the source text is not entirely a translation, but what Reiss calls transfer. Reiss text-typology includes a two-phase approach in translating a text: Phase of analysis and phase of reverbalization. The analy sis phase basically involves establishing the text type, genre and style (linguistic form).The phase of analysis is the most important as that is what would inform the translation method to employ. Text-type of Parting the Waters Reiss identifies three text-types according to their communicative function namely: the informative type (communication of content), the expressive type (communication of artistically organised content) and the operative type (communication of content with a persuasive character). There is another hyper-type which she calls the audio-medial text type. This is more of a super-ordinate term for the other three and does not concern the text in question since it is a written text. Parting the Waters can be seen chiefly as an informative text type; first given the context of the text: magazine and second because it gives factual information about a place: Korea, and the geographical events that take place there. The translation strategy recommended in this case by Reiss should thus focus on conveying content. Text variety of Parting the Waters This stage has to do with the conventions of structure and language adopted by the text. However, Reiss explains that they may differ according to different cultures. The importance of this is to be able to find a functionally equivalent convention in the target text culture. In this light, Parting the Waters is a kind of popular scientific text. This suggests also that it seeks a wider audience other than scientists. This leads to the final stage of analysis: style. Style in Parting the Waters The final stage of analysis has to do with detailed semantic, syntactic and pragmatic analysis of the language use (Reiss, 2000:166). Ordinarily, one would expect that when a text is an informative type, even the language used should be such that it is aimed only at giving facts. But that is often not the case, as Reiss herself admits, not in one single language do form and function show a 1:1 relation (2000:166). Hence, looking at the text, one would find a similar occurrence. The text has expressive language such as the internal rhymes: tides, divine, divide; of 15 feet. There is also an allusion to a biblical story: not divine interventions, an expression that answers the presupposition in the title itself Parting the Waters. Reiss thus considers this stage of analysis the most important, as the translator is faced with a decisive battle on what would inform the translation: the language or the function of the text. At this point, Reiss posits that if using an equivalent language style may weigh on the content of the text, then the translator should stick to the predominant function of the text. Translating Parting the Waters to Yorà ¹bà ¡: limitations Taking into consideration the content-focused function of the text, the translator is expected to employ a method that would achieve the same function as that of the target text by translating according to the sense and meaning (Reiss 2000:167). This suggests that the meaning conveyed by the target text should be equivalent to the meaning in the source text. Being a popular science text, and specifically about geography, Parting the Waters has terms such as peninsula, southwestern, mile, width, feet, and spring. While some of them might have some kind of equivalence (i.e. peninsula, mile width), a climatic description like spring poses a problem because Yorà ¹bà ¡ neither has a word nor group of words for it. This is basically due to the different weather conditions. The question is: what should the translator convey here? This is important because spring as used in the text plays a major role in the content; by telling us when an event takes place. The only alternative here would be to replace the word with the time of the year this season occurs in Korea. The problem with this is that it might change the meaning, as the sense of season is different from the calendar year. To solve this translation problem, the translator could adopt Nidas gloss translation of formal equivalence, that is, the use of footnotes in order to make the text fully comprehensible (Nida 2000:129). What this means is that Reiss method is not sufficient to solve this translation problem. The expression divine interventions in the text makes allusion to a biblical story about the Red Sea. This could be because the author had a target audience in mind and presumes they know about the story in the Bible. Although this can also be linked to the use of expressive language, it is however difficult to ignore the fact that this type of language use plays a role in the text- to maintain the interest of the reader. If the original audience for the source text were specialists, there is doubt as to whether expressive language would have been used at all, since all that would be needed are facts. The question is whether or not to include it in the translation. The answer to this is dependent on another question: who are the audience? Sacrificing the expressive form might change the text to an entirely scientific or historic one. This means a different readership, as it may not appeal to a common reader. The problem here is that Reiss method overlooks the fact there is an address ee for even an informative text type. She acknowledges this only in the text variety stage. However, communication itself is not complete without a receiver, in this case the readers. The title, Parting the Waters, also draws attention. It first makes the reader think of the biblical story of the Red Sea, and then makes a reader assume that is what the text is about. But this effect can only be achieved based on a shared knowledge between the author and the reader about the biblical story of the Red Sea. This assumption too must have been informed by the fact that the author had an audience in mind. However, the author quickly attends to this curiosity and possible misconception by the following opening sentence Tides, not divine interventions, divide Unfortunately, the target language (Yorà ¹bà ¡) audience is a mixture of different religions. In this text the title performs an expressive function, but that is not to say its predominant function is expressive. Since it is an informative text, one would expect again that the title would be informed by the major content being conveyed. But this is not the case. Moreover, attractive titles seem to be a common featu re of this genre. This is also a common feature of Yorà ¹bà ¡ magazines (Salawu 2004:100). The question here is: since content is the aim, should the target title be informed by the content alone and leave the use of expressive language? This of course is possible, as Reiss already advises on ignoring such language use especially if it will weigh on the content. Thus the translation can simply have à pa-Õnà   Ã’kun Korea which means The Path between Korean Waters. The consequence of this however is that it might not appeal to the wider audience except a few, specialists. This brings up again the question: who are the audience? Reiss considers this an appropriate factor only when the function of the target text is different from the source text (Reiss 2000:170). What her typology fails to recognise is that both source and target texts can have the same function (as in the case of Parting the Waters) but different addressees. CONCLUSION While Reiss translation-oriented text-typology provides a systematic method of approaching a translation task, it does not provide a complete solution to some problems in English to Yorà ¹bà ¡ translation of Parting the Waters. This suggests that it is not absolute that a text function will provide a translation strategy. Fawcett (1997: 107) makes this same point: There is simply no necessary link between text function and translation strategy. Just because we have identified a text functiondoes not mean that we are led inexorably to any logical or translation-scientific imperative to take this function as an overriding parameter to which we subordinate our translation decisions. (Fawcett 1997, p.107) This further suggests that other translation theories are valid and useful to the extent to which they proffer a solution to a translation problem.

Roman Women and Their Mythology :: Ancient Rome Roman History

Roman Women and Their Mythology Throughout the ages myths, legends and fairytales have been used to teach people basic moral and educational lessons. For example, mothers and fathers use the childhood story of "Goldilocks and the Three Bears" to teach their children that stealing and snooping is wrong. In the end, Goldilocks was either eaten or she ran away, depending on your bloodthirsty nature. By using this comparison between myths and reality the Romans were able to "control" their women, and to discourage them from vain, romantic and adulterous actions. Women themselves had a very low place in Roman society, and could be bought and sold like cattle or slaves. Despite their low legal status, women had immense power and influence over their fathers, brothers and husbands. These myths and legends were society's guidebook, which provided women with a manual about correct conduct. Despite being a guidebook for all women to use, the Romans couldn't simply say, "Look what happened to that mythical person. You shouldn't do what she did." This would have led to a very depressing and boring set of myths, so the Romans spruced them up a bit. They portrayed both good and bad pictures of women, including the Goddesses. Some of these stories were funny and some sad, but every single one had a lesson which could be learnt and acted upon. For example, the Amazons were a legendary race of warrior women who despised all men. They killed all the male babies that were born, and kept the female ones. In fact, it was said that the Amazons used the men from a nearby village as sex slaves, so that they wouldn't die out. One day, Hercules came along, and wanted to borrow the Queen's belt. Hippolyte, being a woman and all, fell madly in love with Hercules and readily agreed. But the other Amazons weren't impressed, and thinking that Hercules was trying to kill their Queen, charged towards him. Hercules seized Hippolyte and slew her, then ran away with the belt. Needless to say nothing much else was said about the Amazons. This story was used to teach the folly of women who thought they could survive without men. They were dependant on the nearby village, and weren't very well organized. They were much better off sticking to their own place in society. But as I said not all depictions were bad. Some were quite nice.

Critical Analysis of Delta Airline

Critical Analysis of Delta Air Lines, Inc. Financial Reporting and Disclosure Table of Contents Description of Delta Air Lines, Inc. Background, Industry, Market3 Financial Reporting Similarities and Differences4-5 Direction of Disclosure Three Year Comparison5-6 Disclosure Techniques7-8 Financial Derivatives8-9 Financial Statement Analysis Three Year Ratio Analysis10-13 Disclosure of Note Items Application of GAAP13-18 Conclusion Closing Comments18-19 Description of Delta Air Lines, Inc. Background and ProductsDelta Air Lines, Inc. was originally formed as Huff Daland Dusters, Inc. on May 30, 1924, in Macon, Georgia. This began as an aerial crop dusting operation until the company moved to Ouachita Parish in northeastern Louisiana, in 1925, and began acting as a passenger airline in late 1929. Collett E. Woolman purchased the company on September 13, 1928, and renamed it Delta Air Service, with headquarters in Monroe. In the ensuing decades, Delta grew through the addition of routes and the acquisition of other airlines.It transitioned from propeller planes to jets in the 1970s, and entered international competition to Europe in the 1970s and across the Pacific in the 1980s. Delta Air Lines, Inc. is currently a major airline based in the United States headquartered in Atlanta. Delta is the world's largest airline operating under a single certificate, operating flights on six continents across the globe. Delta operates an extensive domestic and international network, spanning North America, South America, Europe, Asia, Africa, the Middle East, the Caribbean and Australia.Delta and its subsidiary Delta Connection operate over 4,000 flights every day. Delta and the Delta Connection carriers fly to 348 destinations in 64 countries. Industry and Market Typically, airline companies and aircraft manufacturers are more prone to swings in revenue and equity market prices due to the release of economic indicators. Delta had an increase of 38% in domestic revenue since 2 008. This is due to increased cargo and baggage handling fees due to new policy implementation. Delta increased its international revenue by 26% since 2008.This is mostly due to an increased focus in the international arena due to the lower demand and higher competition from discount airliners in the U. S. The airline industry contains a variety of different airlines. Some of Delta’s biggest competitors are AirTran Holdings, Southwest Airlines Company, Continental Airlines, American Airlines, JetBlue Airways, United Airlines, and US Airway Group. All of these competitors are diversified in terms of the number of different things they offer, allowing companies in the industry to have access to a number of different profitable markets.Similarities and Differences in Financial Reporting Comparison of Annual Report, 10K and 10Q Delta Air Lines, Inc. uses a number of different elements to supply pertinent information to consumers, investors, creditors, employees, and anyone with a general interest in or curiosity about the company. This pertinent information comes in the form of reports that companies file with the Security and Exchange Commission or SEC, such as the company annual report, the 10K and the 10Q.The annual report is a comprehensive report on a company’s activities throughout the preceding year. Annual reports are intended to give shareholders and other interested persons information about the company’s activities and performance. The 10K is a summary report of a company’s performance that must be submitted annually to the SEC. The 10Q, on the other hand, is a report of a company’s performance submitted quarterly by all public firms to the Securities and Exchange Commission. In the 10Q, firms are required to disclose only newly relevant information egarding their financial position. We see that all three reports are very similar in general as to the information they provide, as well as their purpose. There are a numbe r of similarities and differences between the three reports. The annual report, unlike the 10K and the 10Q, is designed for the benefit of the stockholders and any potential investors. The annual report is published once a year, like the 10K, and usually provides information over a two or three year period to show growth or decline.The annual report is produced to be aesthetically appealing, with color, pictures, quality paper, and printing all for the benefit of current or potential stockholders. The annual report usually includes a company overview, a letter to shareowners, information on the company and its brands, products, and initiatives, its financial highlights, a list of the members of the board of directors, goals and opportunities, and then any important financial statements, information and notes, all of which is meant to promote investment and provide information.The 10K is also a form of an annual report but is only filed with the SEC. It is merely a financial snapshot of the company over the previous year and lacks any visually appealing elements. It too includes a company of the important financial statements, information and notes, but unlike the annual report, it gives much more detail and insight into the operations and cash flow functions of the company. The 10K includes detailed information regarding the business, risk factors, properties, legal proceedings, controls and procedures, transaction relationships, and much more.Like the annual report, the 10K provides information for the current year as well as for one or two years before the current. The 10K is not meant for the benefits of stockholders, but is produced for the sole use of being files with the SEC. The last report is the 10Q, which is a quarterly report filed exclusively with the SEC. This report gives a snapshot of the company’s financial situation in the last quarter, usually a three month period, and also supplies the information for the same quarter in the previous year. The 10Q sually contains information for the total year to date as well. The 10Q, unlike the 10K, is an unaudited version of the financial information and may contain a significant amount of estimation. The report contains sufficiently less information than the other two reports, and gives a general overview of the following topics: financial statements, operations, quantitative and qualitative disclosures, controls, and risk factors. Like the 10K, the 10Q lacks any visually appealing elements because its sole use is for that of the SEC and not for the stockholder’s or potential investors.While still being of importance, the 10Q is of less important than that of the annual report or 10K because of its unaudited and estimated nature, as well as the fact that it reports on a significantly shorter time period than that of the reports and therefore enables users of the report to draw fewer conclusions. Overall, the 10Q is not as useful as those interested in the financial in formation because it provides much less detail and gives a much smaller picture of the company’s financial outlook. Direction of Disclosure Three Year ComparisonOver the last three years, Delta Air Lines, Inc. has made few changes in regard to its direction of disclosure. Delta Air Lines, Inc. discloses its Notes to Financial Statements directly following its Financial Statements and Supplementary Data. In 2008 and 2009, Delta Air Lines, Inc. disclosed all of the same eighteen notes to financial statements in the same order. In 2010, the number of notes was increased to nineteen. The three added notes in 2010 consist of Note 8: JFK Development, Note 11: Bankruptcy Claims Resolution, and Note 19: Subsequent Events.In the 2008 10K, Note 17: Valuation and Qualifying Accounts was stated and kept in the 2009 10K as Note 17 as well. However, it was not included in the 2010 10K. All the Notes added in each year were due to issues that arose within the company. Delta Air Lines, Inc. Note 11: Bankruptcy Claims Resolution was added because In September  2005, we and substantially all of our subsidiaries filed voluntary petitions for reorganization under Chapter  11 of the U. S. Bankruptcy Code. On April  30, 2007, the Delta Debtors emerged from bankruptcy.Under the Delta Debtors’ Joint Plan of Reorganization, most holders of allowed general, unsecured claims against the Delta Debtors received or will receive Delta common stock in satisfaction of their claims. There will be no further material impact to our Consolidated Statements of Operations from the settlement of claims because the holders of such claims will receive under Delta’s and Northwest’s Plan of Reorganization, as the case may be, only their pro rata share of the distributions of common stock contemplated by the applicable Plan of Reorganization.Delta Air Lines, Inc. Note 8: JFK Redevelopment states the company’s annual rent, operation and maintenance payments for the use of terminal facilities at JFK were approximately $135  million in 2010, and estimate the future annual payments to be approximately $200 million after the project is complete in 2016. We will be responsible for the management and construction of the project and bear construction risk, including cost overruns. As construction progresses, the project will be recorded on our Consolidated Balance Sheet as a fixed asset as if we owned the asset.We will also record a related construction obligation on our Consolidated Balance Sheet. Future rental payments will reduce this construction obligation and result in the recording of interest expense on our Consolidated Statement of Operations. The last aspect of Delta Air Lines, Inc. direction of disclosure that has changed with the last three years is Note 19: Subsequent Events. In February 2011, the company completed a $100 million offering of Pass Through Certificates and a $135 million offering of Pass Through Certificates through two separate pass through trusts. This has a final maturity in January 2016.The company received $75 million in net proceeds from the 2010-2B EETC at the closing of the offering and the remaining $59 million is being held in escrow until they refinance other aircraft. Techniques of Disclosure Companies should disclose information as completely as possible in relation to financial condition, contingencies, methods of valuing assets and liabilities, and contracts and agreements. In order to do so, a company may use a number of different disclosure techniques, which include but are not limited to, parenthetical explanations, notes, cross references and contra tems, and supporting schedules. Delta Air Lines, Inc. uses a number of these techniques in the disclosure of their pertinent financial information. Delta Air Lines, Inc. uses parenthetical explanations in a number of different places throughout their financial reporting. Companies use parenthetical explanations to add clarity and com pleteness where it may be needed. This technique brings additional information into the body of the text or statement an afforded for less oversight by readers or users of the financial information. Delta Air Lines, Inc. uses parenthetical explanations in their financial reporting.For example, on the balance sheet under â€Å"Stockholders’ Equity†, Delta Air Lines, Inc. shows parenthetical explanation of the price per share when stating: Shares of common stock issued and compensation expense associated with equity awards (Treasury shares withheld for payment of taxes, $10. 73 per share). (This example is in the 2010 annual report). Notes are another important technique that companies use for disclosure purposes. Notes allow companies to supply additional information or explanations without writing lengthy or inconvenient parenthetical explanations.Notes are commonly used to disclose the existence and amount of any dividends in arrears, terms of or obligations concernin g purchase commitments, special financial arrangements, financial instruments, depreciation policies, changes in accounting principles or policies, and any contingencies. Companies who use notes are obligated to present all essential facts as completely and precisely as possible in an effort to relay the appropriate and accurate information to readers. Delta Air Lines, Inc. relies heavily on notes in their financial reporting and discloses them in a section called Notes to the Consolidated Financial Statements.Each of these notes adds or clarifies information already presented in the report. An example of such is Note 4: Goodwill and Other Intangible Assets. This note in the Notes to Consolidated Financial Statements section of the annual report describes that the company experienced a significant decline in market capitalization primarily from record high fuel prices and overall airline industry conditions. We determined that these factors combined with further increases in fuel pr ices were an indicator that a goodwill impairment test was required.As a result, we estimated fair value based on a discounted projection of future cash flows, supported with a market-based valuation. We determined that goodwill was impaired and recorded a non-cash charge of $6. 9  billion for the year ended December  31, 2008. This is just one of many notes disclosed by Delta Air Lines, Inc. in their financial reports (this example is in the 2010 annual report). Cross-references and contra items are another important techniques used to supplement the disclosure of financial information. Cross-referencing shows a direct relationship between an asset and a liability on the balance sheet.Cross-referencing is not a technique used by Delta Air Lines, Inc. in their disclosure. Along with cross-referencing, Delta Air Lines, Inc. does not disclose any contra or adjunct accounts in its financial reports. Delta Air Lines, Inc. reports its assets at net and does not quantitatively divulge any contra account information. Contra and adjunct accounts are listed on the balance sheet. Contra accounts either reduce an asset, liability, or owner’s equity account. Adjunct accounts increase an asset, liability, or owner’s equity account. Some examples of such accounts are accumulated depreciation and discount or premium on bonds payable.Delta Air Lines, Inc. does not list any of these accounts specifically in disclosing their financial information, but instead lists all their assets and liabilities at net. The last technique of disclosure to discuss is supporting schedules. Supporting schedules are used to present more detailed information about certain assets or liabilities. Typically, Delta Air Lines, Inc. does not use this technique in disclosure. Financial Derivatives Financial derivative instruments are products developed to manage the financial risks associated with constant change due to volatile markets, new technology, and deregulation.Derivative instr uments help to smooth out fluctuations caused by various types of risk. Companies, such as Delta Air Lines, Inc. use the fair values or cash flows of derivative instruments to offset changes in fair values or cash flows of any at-risk assets. Delta Air Lines, Inc. discloses information on their use of financial derivative products in their Notes under Consolidated Financial Statements. In Note 1: Background and Summary of Significant Policies, Delta Air Lines, Inc. discusses a change in accounting policy in regards to derivative instruments.In March of 2008, FASB issued â€Å"Disclosure about Derivative Instruments and Hedging Activities†. The standard requires enhanced disclosure about how and why entities use derivative instruments, how the instruments and related hedging items are accounted for and how the instruments affect an entity’s financial position, performance, and cash flows. This standard amends required disclosures about the fair value of financial instru ments in interim and annual financial statements. In Note 3: Risk Management and Financial Instruments, Delta Air Lines, Inc. discuss their disclosure of financial derivatives and how they are accounted for.Delta Air Lines, Inc. results of operations are materially impacted by changes in aircraft fuel prices. In an effort to manage exposure to this risk, the company periodically enters into derivative instruments generally comprised of crude oil, heating oil and jet fuel swap, collar and call option contracts to hedge a portion of our projected aircraft fuel requirements, including those of our Contract Carriers under capacity purchase agreements. All hedges are recorded at fair value, and gains and losses on hedges are recorded in other income (expense) at net.Within the Consolidated Statement of Cash Flows, settlements for fair value and cash flow hedges are classified as an operating activity, while all other derivatives are classified as a financing activity. Financial Statement Analysis Analysis: Three Year Ratio Comparison | 2010| 2009| 2008| Liquidity Ratios|   |   |   | Current Ratio: | 0. 64| 0. 79| 0. 81| current assets / current liabilities | | | | Quick or Acid Test Ratio:| 0. 61| 0. 76| 0. 77| current assets – inventories / current liabilities | | | | Current Cash Debt Coverage Ratio:| N/A| 0. 14| -0. 15| net cash from operating activities / average current liabilities| | | | | | | |Activity Ratios| | | | Receivables Turnover Ratio:| 21. 81| 20. 74| 15. 73| net sales / average (net) trade receivables | | | | Inventory Turnover Ratio:| N/A| N/A| N/A| cost of goods sold / average inventory | | | | Asset Turnover Ratio:| 0. 74| 0. 64| 0. 50| net sales / average total assets| | | | | | | | Profitability Ratios| | | | Profit Margin on Sales: | 0. 02%| -0. 04%| -0. 39%| net income / net sales | | | | Rate of Return on Assets:| 0. 01%| -0. 03%| -0. 20%| net income / average total assets| | | | Rate of Return on Common Stock Equity| 0. 73%| 0 . 31%| 1. 5%| net income – preferred dividends / average common stockholder’s equity| | | | Earnings Per Share| $0. 71| -$1. 50| -$19. 06| net income – preferred dividends / weighted shares outstanding| | | | Diluted Earnings Per Share| $0. 70| -$1. 50| -$19. 08| given in the financial statements | | | | Payout Ratio| N/A| N/A| N/A| cash dividends / net income| | | | | | | | Coverage Ratios| | | | Debt to Total Assets Ratio:| 33. 59%| 38. 06%| 35. 50%| debt / total assets| | | | Times Interest Earned:| -0. 61| 1. 74| 13. 20| income before interest and taxes / interest expense| | | | Cash Debt Coverage Ratio:| N/A| 0. 3| 0. 04| net cash from operating activities / average total liabilities| | | | Book Value Per Share: | $1. 08| $0. 30| $1. 87| common stockholder’s equity / outstanding shares | | |   | Explanation A financial analysis of Delta Air Lines, Inc. is best done through the calculation and interpretation of financial ratios. There are four categ ories of financial ratios: liquidity, activity, profitability, and coverage. Each ratio gives a piece of information about the financial stability of the company and collectively portrays the big picture in regards to finances.The first type of ratios, liquidity ratios, measures a company’s short-run ability to pay its maturing obligations. The first ratio, the current ratio, is mainly used to give an idea of the company’s ability to pay back its short-term debts with its short-term assets. The higher the current ratio, the more capable the company is of paying its obligations. Delta Air Lines, Inc. current ratio has decreased gradually in the past three current years, which means the company is becoming less capable of paying off their maturing obligations. In all three years Delta Air Lines, Inc. as remained with a current ratio under one. A ratio under one suggests that the company would be unable to pay off its obligations if they came due at that point. The next r atio, the quick/acid test ratio indicates whether a firm has enough short-term assets to cover its immediate liabilities without selling inventory. Like the current ratio, the higher the ratio, the better the financial outlook of the company. Delta Air Lines, Inc. acid test ratio has continued to decrease over the last few years, which is an indication that the company is becoming less liquid. Once again, Delta Air Lines, Inc. atio remained under one, implying that the company is not capable of paying off its maturing debts at this current point in time. The last liquidity ratio is the current cash debt coverage ratio which indicates whether a company can pay off its current liabilities from its operations in a given year. Delta Air Lines, Inc. current cash debt coverage ratio has increased from 2008 to 2009. The information needed to calculate 2010 was unavailable. The higher the current cash debt coverage ratio, the more capable the company is of paying off its current liabilities with the proceeds from its operations in a given year.Delta Air Lines, Inc. ratio was again below one in the two years calculated, meaning that the proceeds from their operations cannot support their current liabilities. The next type of financial ratios is the activity ratios, which measures how effectively the company is using the assets employed. The first ratio, the receivables turnover, measures the number of times on average a company collects receivables during the period. A low ratio implies that a company should re-assess its credit policies in order to ensure the timely collection of imparted credit that is not earning interest for the firm.Delta Air Lines, Inc. receivables turnover ratio increased over the last three years, meaning the company gradually started effectively using its employed assets. The inventory turnover ratio shows how many times a company’s inventory is sold and replaced over a period. This ratio should be compared against industry averages. A low turnover implies poor sales or ineffective buying. This ratio could not be calculated for all three years because the company does not have a cost of goods sold since they do not sell inventory.The last activity ratio, the asset turnover ratio, is useful to determine the amount of sales that are generated from each dollar of assets. Companies with low profit margins have a high asset turnover ratio, and those with high profit margins have a low asset turnover because of pricing strategies. Delta Air Lines, Inc. asset turnover ratio was increased over the last few years and was highest in 2010. This ratio indicates that over the last few years, the company has not been able to effectively use their assets to generate sales.A third type of financial ratios is the profitability ratios that measure the degree of success and failure of a company during a given period of time. The profit margin on sales measures how much out of every dollar of sales a company usually keeps as earnings . Delta Air Lines, Inc. profit margin on sales had increased gradually over the last few years. While this is a positive indication, the company generally has a lower profit margin than other companies in its industry. The rate of return on assets shows how profitable a company uses its assets during a period of time. Delta Air Lines, Inc. as a low rate of return indicating an inefficient use of assets to generate earnings. This company’s return on assets has increased over the last three years, indicating an increase in profitability. The rate of return on common stockholder’s equity measures a company’s profitability in terms of how much profit the company generates with the money shareholders have invested. Delta Air Lines, Inc. has a rather low rate of return on equity and has not shown consistent growth over the last few years. This indicates less profit per dollar invests, as well as a decrease in company profitability.The next ratios are the basic earning s per share and the diluted earnings per share. Basic earnings per share are the portion of a company’s profit allocated to each outstanding share of common stock. Diluted earnings per share expand on this idea by including any dilutive securities. Over the last three years, Delta Air Lines, Inc. basic and dilutive earnings per share have increased, indicating an increase in the company’s profitability. The last profitability ratio is the payout ratio, which is the percentage of earnings paid out as dividends to common stockholders. Delta Air Lines, Inc. ayout ratio cannot be calculated due to the fact that this company has no cash dividends. The last type of ratios used for financial analysis is the coverage ratios. Coverage ratios measure the degree of protection for long-term creditors and investors. The debt to total assets ratio shows the proportion of a company’s assets that are financed through debt. Companies with high debt to total asset ratios are said to be â€Å"highly leveraged†, and would be in danger if creditors start to demand repayment of debt. Delta Air Lines, Inc. ratio is on the low side and has been consistently low over the last three years.This could be an indication that many of the company’s assets are not financed through debt, which is good for the company. The times interest earned ratio or TIE is used to measure a company’s ability to meet its debt obligation. It is usually quoted as a ratio and indicates how many times a company can cover its interest charges on a pretax basis. Failing to meet these obligations could force a company into bankruptcy. The next ratio, the cash debt coverage ratio, indicated a company’s ability to repay its obligations from net cash provided by operating activities without having to liquidate the assets employed in its operations.Delta Air Lines, Inc. is very low which means that liquidation of assets would be required to repay current obligation. The last ratio we must analyze is the book value per share. Book value per share is the amount each share would receive if the company were to liquidate in the basis of amounts reported on the balance sheet. Delta Air Lines, Inc. book value per share has fluctuated significantly over the last few years but increased from 2009 to 2010, which is a good indication. Disclosure of Note Items Standard Applied and Application Delta Air Lines, Inc. ses Generally Accepted Accounting Principles (GAAP) for all of their financial reporting, disclosure, and statement analysis. Delta Air Lines, Inc. flies globally after its merge North West. The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the U. S. (GAAP). The company’s Consolidated Financial Statements include the accounts of Delta Air Lines, Inc. and their wholly-owned subsidiaries. As a result of the Merger, the accounts of Northwest are included for all pe riods subsequent to the Closing Date.Preparation of these find financial statements require estimates and assumptions affecting the reported amounts of assets and liabilities at the date of the consolidated financial statements, reported amounts of revenues and expenses during the reporting period and related disclosures of contingent assets and liabilities. Item 1: Equity Disclosure of stockholder’s equity requires a company to disclose changes in the separate accounts comprising stockholder’s equity in order to make financial statements sufficiently informative.These changes may be disclosed in separate statements or in the basic financial statements or notes. In October  2009, the Financial Accounting Standards Board issued â€Å"Revenue Arrangements with Multiple Deliverables. † The standard revises guidance on the determination of when individual deliverables may be treated as separate units of accounting and the allocation of consideration among separate ly identified deliverables. It also expands disclosure requirements regarding an entity’s multiple element revenue arrangements. Item 2: DebtIn terms of long-term debt, disclosure generally must indicate the nature of the liabilities, maturity dates, interest rates, call provisions, conversion privileges, restrictions imposed by creditors, and assets designed or pledged as securities. It is recommended that companies show any assets pledged as a security for the debt in the assets section of the balance sheet. The fair values for all long-term debt should be disclosed if a practical estimation can be made. Lastly, it is required that companies disclose future payments for sinking fund requirements and maturity amounts of long-term debt during each of the next five years.This type of disclosure allows users of financial statements to evaluate amounts and timing for future cash flows. Any off-balance sheet accounting that a company may do is required to be included in the notes in extensive detail. In Note 5, Delta Air Lines, Inc. acknowledges debt and gives specific details regarding its terms and conditions. For example, during 2010, the company recorded a $391  million loss on extinguishment of debt, of which $304  million related to a non-cash write-off of debt discounts that were recorded as part of purchase accounting.In the 2010 annual report, the company includes a table summarizing scheduled maturities of the company’s debt, including current. The nature of this disclosure aligns with the GAAP requirements. Item 3: Income Taxes Delta Air Lines, Inc. accounts for deferred income taxes under the liability method. They recognize deferred tax assets and liabilities based on the tax effects of temporary differences between the financial statement and tax bases of assets and liabilities, as measured by current enacted tax rates. A valuation allowance is recorded to reduce deferred tax assets when necessary.Deferred tax assets and liabilities are recorded net as current and noncurrent deferred income taxes on the Consolidated Balance Sheets. The income tax provisions are based on calculations and assumptions that are subject to examination by the Internal Revenue Service (the â€Å"IRS†) and other taxing authorities. Although the positions they have taken on previously filed tax returns are reasonable, they have established tax and interest reserves in recognition that taxing authorities may challenge these positions, which could result in additional liabilities for taxes and interest.This company reviews and adjusts the reserves as circumstances warrant and events occur, such as lapsing of applicable statutes of limitations, conclusion of tax audits, a change in exposure based on current calculations, identification of new issues, release of administrative guidance or the rendering of a court decision affecting a particular issue. They adjust the income tax provision in the period in which the facts that give ri se to the revision become known. Item 4: Earnings per ShareBasic earnings per share (EPS) are net income divided by the weighted average number of common shares outstanding during the period. Diluted EPS includes the incremental shares assumed to be issued upon exercise of stock options and the incremental shares assumed to be issued under performance shares and restricted stock unit arrangements. For the 2010, 2009, and 2008 EPS computations, 18 million, 26 million, and 12 million stock options were excluded from the calculation of weighted shares for diluted EPS because their affects were ant dilutive.Item 5: Accounts Receivables Accounts receivable primarily consist of amounts due from credit card companies from the sale of passenger airline tickets, customers of the company aircraft maintenance and cargo transportation services and other companies for the purchase of mileage credits under the company’s SkyMiles Program. Delta Air Lines, Inc. provides an allowance for unco llectible accounts equal to the estimated losses expected to be incurred based on historical chargeback’s, write-offs, bankruptcies and other specific analyses.Bad debt expense and write-offs were not material for the years ended December  31, 2010, 2009 and 2008. Item 6: Cash and Cash Equivalents Short-term, highly liquid investments with maturities of three months or less when purchased are classified as cash and cash equivalents on the Consolidated Balance Sheets and are recorded at cost, which approximates fair value. Restricted cash and cash equivalents on the Consolidated Balance Sheets are primarily held to meet certain projected self-insurance obligations and are recorded at cost, which approximates fair value.According to Note 2, at December  31, 2010 and 2009, the company recorded $407  million and $419  million, respectively, in restricted cash, cash equivalents and short-term investments and $33  million and $16  million, respectively, in other noncurr ent assets on the Consolidated Balance Sheets. Item 7: Short-Term Investments Investments with maturities of greater than three months, but not in excess of one year, when purchased are classified as short-term investments on the company’s Consolidated Balance Sheets.At December 31, 2010, the short-term investments are treasury bills recorded at cost, which approximates fair value. At December  31, 2009, the short-term investments were invested in a money market fund that was recorded at fair value and liquidated in an orderly manner in 2010. According to Note 2 in the 2010 Annual Report, at December  31, 2010, short-term investments on the Consolidated Balance Sheet consisted of treasury bills and were recorded at cost, which approximates fair value. During the year ended December  31, 2010, Delta Air Lines, Inc. eceived $77  million from an investment in a money market fund that was liquidated in an orderly manner, $71  million of which was recorded in short-term investments on the Consolidated Balance Sheet at December  31, 2009. This investment was classified in Level 3 of the three-tier fair value hierarchy due to uncertainty regarding the timing and expected amount of the distribution. Item 8: Revenue Recognition Delta Air Lines, Inc. recorded the sales of passenger tickets in air traffic liability on the Consolidated Balance Sheets.Passenger revenue is recognized when they provide transportation or when the ticket expires unused, reducing the related air traffic liability. The company periodically evaluates the estimated air traffic liability and records any adjustments in their Consolidated Statements of Operations. These adjustments relate primarily to refunds, exchanges, transactions with other airlines and other items for which final settlement occurs in periods subsequent to the sale of the related tickets at amounts other than the original sales price.This company is required to charge certain taxes and fees on passenger tickets , including U. S. federal transportation taxes, federal security charges, airport passenger facility charges and foreign arrival and departure taxes. These taxes and fees are legal assessments on the customer for which Delta Air Lines, Inc. acts as a collection agent. Because they are not entitled to retain these taxes and fees, they do not include such amounts in passenger revenue. The company records a liability when the amounts are collected and reduce the liability when payments are ade to the applicable government agency or operating carrier. Item 9: Goodwill and Other Intangible Assets Delta Air Lines, Inc. applies a fair value-based impairment test to the net book value of goodwill and indefinite-lived intangible assets on an annual basis and, if certain events or circumstances indicate that an impairment loss may have been incurred, on an interim basis. The annual impairment test date for goodwill and indefinite-lived intangible assets is October 1. They value goodwill and i dentified intangible assets primarily using the income approach valuation technique.These measurements include the following significant unobservable inputs: the projected revenues, expenses and cash flows, an estimated weighted average cost of capital, assumed discount rates depending on the asset and  a tax rate. These assumptions are consistent with those hypothetical market participants would use. Since the company is required to make estimates and assumptions when evaluating goodwill and indefinite-lived intangible assets for impairment, the actual amounts may differ materially from these estimates. Changes in assumptions or circumstances could result in impairment.Factors which could cause impairment include, but are not limited to, negative trends in our market capitalization, an increase in fuel prices, declining passenger mile yields, lower passenger demand as a result of the weakened U. S. and global economy,  interruption to the operations due to an employee strike, t errorist attack, or other reasons,  changes to the regulatory environment and  consolidation of competitors in the airline industry. According to Note 4, during 2008, Delta Air Lines, Inc. experienced a significant decline in market capitalization primarily from record high fuel prices and overall airline industry conditions.In addition, the announcement of their intention to merge with Northwest established a stock exchange ratio based on the relative valuation of Delta and Northwest It was determined that these factors combined with further increases in fuel prices were an indicator that a goodwill impairment test was required. As a result, they estimated fair value based on a discounted projection of future cash flows, supported with a market-based valuation. The company determined that goodwill was impaired and recorded a non-cash charge of $6. 9  billion for the year ended December  31, 2008.Item 10: Inventories Inventories of expendable parts related to flight equipmen t are carried at moving average cost and charged to operations as consumed. An allowance for obsolescence is provided over the remaining useful life of the related fleet for spare parts expected to be available at the date aircraft are retired from service. The company also provided allowances for parts identified as excess or obsolete to reduce the carrying costs to the lower of cost or net realizable value. These parts are assumed to have an estimated residual value of 5% of the original cost.Conclusion Closing Statements In summation, Delta Air Lines, Inc. is not a highly profitable company. Although it is currently a major airline in the United States and grew through the addition of routes and the acquisition of other airlines, they are not performing so well due to the economic recession. The current economic environment has taken a toll on the company, like most companies throughout the United States in the last few years. Delta Air Lines, Inc. is not as liquid as it would li ke to be, and the coverage ratios are being affected.Over the last few years, the company’s profitability has increased in all facets. If this trend continues, Delta Air Lines, Inc. will be on its way to becoming more liquid and therefore, more financially stable. Delta Air Lines, Inc. management seems to be trying to efficiently utilize all its resources but is falling short in placing this company in a promising financial position. If this company continues to conduct their business in the same manner and direction as they have thus far, then they will fall short of continuing to be a profitable and successful company for years to come.

Understanding Where Money Goes in the Stock Market

Understanding Where Money Goes in the Stock Market When a stock market price for a company suddenly takes a nosedive, a stakeholder may wonder where the money they invested went. Well, the answers not so simple as someone pocketed it. Money that enters the stock market through investment in a companys shares stays in the stock market, though that shares value does fluctuate based on a number of factors. The money invested initially in a share combined with the current market value of that share determine the net worth of shareholders and the company itself. It may be easier to understand this given a specific example such as three investors - Becky, Rachel, and Martin - entering the market to buy a share of Company X, wherein Company X is willing to sell one share of their company in order to increase capital and their net worth through investors. An Example Exchange in the Market In this scenario, Company X has no money but owns one share that it would like to sell the open exchange market while Becky has $1,000, Rachel has $500, and Martin has $200 to invest. If Company X has an Initial Public Offering (IPO) of $30 on the share and Martin buys it, Martin would then have $170 and one share while Company X has $30 and one less share. If the market booms and Company Xs stock price goes up to $80 per share, then Martin decides to sell his stake in the company to Rachel, Martin would then exit the market with no shares but up $50 from his original net worth to now total $250. At this point, Rachel has $420 left but also acquires that share of Company X, which remains unaffected by the exchange. Suddenly, the market crashed and Company X stock prices plummet to $15 a share. Rachel decides to opt out of the market before it goes any further down and sells her share to Becky; this places Rachel with no shares at $435, which is down $65 from her initial net worth, and Beck at $985 with Rachels stake in the company as part of her net worth, totaling $1,000. Where the Money Goes If weve done our calculations correctly, the total money lost has to equal the total money gained and the total number of stocks lost has to equal the total number of stocks gained. Martin, who gained $50, and Company X, who gained $30, have collectively gained $80, while Rachel, who lost $65, and Becky, who is sitting on a $15 investment, collectively lost $80, so no money has entered or left the system. Similarly, AOL’s one stock loss is equal to Becky’s one stock gained. To calculate the net value of these individuals, at this point, one would have to assume the current stock exchange rate for the stake, then add that to their capital in the bank if the individual owns stock while subtracting the rate from those who are down a share. Company X would, therefore, have a net value of $15, Marvin $250, Rachel $435, and Beck $1000. In this scenario, Rachels lost $65 has gone to Marvin, who gained $50, and to Company X, who has $15 of it. Further, if you change the value of the stock, the total net amount Company X and Becky are up will be equal to $15, so for every dollar the stock goes up, Becky will have a net gain of $1 and Company X will have a net loss of $1 - so no money will enter or leave the system when the price changes. Note that in this situation nobody put more money in the bank from the down market. Marvin was the big winner, but he made all his money before the market crashed. After he sold the stock to Rachel, hed have the same amount of money if the stock went to $15 or if it went to $150. Why Does Company Xs Value Increase When Stock Prices Fall? It is true that Company Xs net value does go up when the stock price goes down because when the price of the stock plunges, it becomes cheaper for Company X to repurchase the share they sold to Martin initially. If the stock price goes to $10 and they repurchase the share from Becky, they will be up to $20 as they initially sold the share for $30. However, if the stock price goes to $70 and they repurchase the share, they will be down $40. Note that unless they actually make this transaction Company X does not gain or lose any cash from changes in the share price. Lastly, consider Rachels situation. If Becky decides to sell her share to Company X, from Rachels perspective it doesn’t matter what price Becky charges Company X as Rachel will still be down $65 no matter what the price. But unless Company actually makes this transaction, theyre up to $30 and down one share, no matter what the market price of that share is. By constructing an example, we can see where the money went, and see that the guy making all the money made it just before the crash happened.