ACC 497 Case Study 1-49 free essay sample

An audit by the IRS was done on Mr. John Gemstone, a wealthy client. A few deductions were questioned, such as; $10,000 loss on beach rental, $20,000 charitable contribution, $15,000 loss for operation of cattle breeding ranch. There was a concern that the battle breeding ranch is not a legitimate business, which is more like a hobby. My supervisor was asked that I represent Mr. Gemstone in his discussions with the IRS. In order to get elaborate more on Mr. Gemstones deductions, we would need more specifics: †¢For the charitable contribution painting, we feel that the painting may be overvalued. Was there an expert that actually came out and viewed the painting to give a professional and honest value of $20,000? Where is the proof? Can we go based on your word? If I said, the Mona Lisa painting was $1; would you believe that in fact the painting is valued at $1? What record do you have to provide to us that the painting is valued at ,000? †¢Now, Mr. We will write a custom essay sample on ACC 497 Case Study 1-49 or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Gemstone claims that he has a business of cattle breeding. Are you registered as an individual to be breeding cattle? Where are you documents for your land that you are in fact breeding these cattle on your property? How are you keeping track of the money that you have invested and the revenue coming in from breeding these cattle? Do you have a permit showing that these cattle can be breed on your property? †¢In the loss deduction of the rental of your beach cottage? What happened with the beach cottage? What do you have to prove that this can be included in your tax return? Tax research is the search for the best defensibly correct solution to a problem involving either a completed transaction or a proposed transaction, according to Federal Taxation (2011). We must determine the following: †¢Determine the facts †¢Identify the issues †¢Identify and Analyze the tax law sources †¢Evaluate non-tax implications †¢Solve the problem †¢Then communicate the findings with the client. In Mr. Gemstones case, stated in Section 280A, a loss is not a deductible if the taxpayer used the residence, such as the beach house, for personal purposes for longer or greater of 14 days or 10% of the number of days the unit was rented at a fair rental value. Property is deemed to be used by the taxpayer for personal purposes on any days on which it is definition of family members. According to the IRS, an individual can deduct a charitable contribution made to, or for the use of, any of the following organizations that otherwise are qualified under section 170(c) of the IRS codes. However, there are limitations of deductions. The 50% limitations apply to all public charities, all private operating foundations (code POF), certain private foundations that distribute the contributions they receive to public charities and private operations foundations within 2 ? months following the year receipt and lastly to certain private foundations the contributions to which are pooled in a common fund and the income and corpus of which are paid to public charities.

Free Essays on Vicenente Aleixandre

like lips in, 1932, Pasà ­on de la Tierra which is Passion for the Earth in 1935 and La Destruccià ³n o el amor which is Destruction of Love, in 1935. However, it is with Aleixan... Free Essays on Vicenente Aleixandre Free Essays on Vicenente Aleixandre Vicente Aleixandre Spainish Poet Aleixandre is one of the most successful Spanish poets to both survive the Civil War and remain in Spain afterwards. A large part of this is due to the fact that his poems were non- political in nature. Aleixandre had a long-suffering struggle with tubercular nephritis, which kept him bed-ridden in a mountain retreat for much of the war. Aleixandre's significant contributions to modern poetry were recognized with the receipt of the Nobel Prize for Literature in 1977, He was 79 years old! Vicente Aleixandre was born in Seville, in 1898. He led a happy childhood. His father was an engineer, and the family was very close-knit. In fact, following their parents deaths, His moms in 1934 and his father in1940, both Vicente and his sister, Conchita, continued to live together in their parent's house. The family moved to Mlaga in 1902, and this scenic, coastal village proved to be a strong inspiration to Aleixandre's early poetry. He often evoked images of the sea and sun. However, he was late in developing as a poet. In college, Aleixandre studied business law and became a University law teacher in Madrid when he was only 22 years old. It was not until a close friend and poet, Dmaso Alonso, gave him a book of poetry by Rubà ©n Darà ­o, that he began writing in secret. Aleixandre did not devote himself to his hidden passion, until his illness forced him to leave his job at the age of 27. His early publications were well regarded and Vicente Aleixandre was rewarded Spain's National Prize for Literature in 1933 for his first four publications: mbito in english it is Ambit in Swords like lips in 1928, Espadas como labios which in english is Swords like lips in, 1932, Pasà ­on de la Tierra which is Passion for the Earth in 1935 and La Destruccià ³n o el amor which is Destruction of Love, in 1935. However, it is with Aleixan...

Identify Problems and Solutions Bulling in Schools Essay

Identify Problems and Solutions Bulling in Schools - Essay Example This essay approves that the effects of bullying can be both short and long-term, with some psychological scars often enduring for years (Lumsden, 2002). Pre-school children, not yet able to properly voice their concerns, will display symptoms that can be attributed as the effects of being bullied. These symptoms can include refusing to go to school, refusal to discuss how the day went and feigning illness. Crying for no apparent reason and reluctance to go certain places are also common effects. Between the ages of seven and sixteen years old, the symptoms and effects of bullying become easy to identify. While children this age are perfectly able to articulate themselves, sometimes they can decide to not to, because they are shamed, scared or fear further punishment. The huge fear and inner soreness that bullying causes can sporadically activate a violent and sudden outburst in sufferers when they get to their ‘hot point’ and just cannot take the agony any more. The suf ferer may get dejected, depressed, and suicidal or even murderous. This report makes a conclusion that research has also shown that students are reluctant to bring their concerns to the attention of teachers. In effort to combat this, a more organized approach needs to be taken among teachers when handling school bullying. If there is not a current approach to bullying existing in a school, teachers will continue to have varying responses to handling bullying situations, based on their self-efficacy, intent, and empathy toward the victim. Teacher assessments need be given, and programs need to be developed to enhance teacher self-efficacy and knowledge about bullying.

The Science of Nutrition Essay Example | Topics and Well Written Essays - 2250 words

The Science of Nutrition - Essay Example Describe the processes involved in cellular protein synthesis. How would synthesis be affected by intake of an otherwise adequate diet that is very low in glycine or low in tryptophan How would synthesis be affected by a diet that is low in energy Proteins are widely used in cells to provide different functions such as providing structural support for cells or to act as enzymes to catalyze certain reactions. Since the beginning of evolution, cells have developed the ability to synthesize proteins. To manufacture proteins, cells follow a very systematic procedure that first transcribes DNA into mRNA and then translates the mRNA into chains of amino acids. The amino acid chain then folds into specific proteins. [11] These two processes are 1. DNA Transcription Protein synthesis initiates in the cell's nucleus when the gene encoding a protein is copied into RNA. Genes, in the form of DNA, are rooted in the cell's chromosomes. The process of transferring the gene's DNA into RNA is called transcription. Transcription helps to increase the amount of DNA by creating many copies of RNA that can act as the template for protein synthesis. The RNA copy of the gene is called the mRNA. After transcription, the mRNA is transported out of the cell's nucleus through nuclear pores to go to the site of translation, the rough endoplasmic reticulum. [4] 2. RNA Translation After the mRNA has been taken to the rough endoplasmic reticulum, it is fed into the ribosomal translation machineries. Ribosomes begin to read the mRNA sequence to convert the mRNA into protein. The mRNA sequence is matched three nucleotides at a time to a complementary set of three nucleotides in the anticodon region of the corresponding tRNA molecule.... As the essay declares proteins are widely used in cells to provide different functions such as providing structural support for cells or to act as enzymes to catalyze certain reactions. Since the beginning of evolution, cells have developed the ability to synthesize proteins. To manufacture proteins, cells follow a very systematic procedure that first transcribes DNA into mRNA and then translates the mRNA into chains of amino acids. The amino acid chain then folds into specific proteins. According to the report findings protein synthesis initiates in the cell's nucleus when the gene encoding a protein is copied into RNA. Genes, in the form of DNA, are rooted in the cell's chromosomes. The process of transferring the gene's DNA into RNA is called transcription. Transcription helps to increase the amount of DNA by creating many copies of RNA that can act as the template for protein synthesis. The RNA copy of the gene is called the mRNA. After transcription, the mRNA is transported out of the cell's nucleus through nuclear pores to go to the site of translation, the rough endoplasmic reticulum. After the mRNA has been taken to the rough endoplasmic reticulum, it is fed into the ribosomal translation machineries. Ribosomes begin to read the mRNA sequence to convert the mRNA into protein. The mRNA sequence is matched three nucleotides at a time to a complementary set of three nucleotides in the anticodon region of the corresponding tRNA molecule.

Windows Server Deployment Proposal Rubric Paper Research

Windows Server Deployment Rubric Paper - Research Proposal Example The answer to this question is simple and straightforward. By creating VLAN it is possible to create smaller broadcast domains within layer 2 switched internetworks by assigning different ports on the switch to different sub networks. A VLAN is treated like its own subnet or broadcast domain, meaning that frames broadcast onto the network are only switched between the ports logically grouped within the same VLAN. A router is also needed in this network for inter-VLAN communication. VLAN Trunk Protocol (VTP) is also useful in updating the databases of the switch with the VLAN information and on how trunking is applicable sending information from all VLANs across one link. Thus VLAN helps in the network management in the following aspects Before the new network was established IDLEWILD had the Wide Area Network. The network of IDLEWILD is was put up with the WAN links to the new location in the Houston Region. IDLEWILD has 2 regions as San Francisco and Derver in the present meaning that the 2 regions were merged together. The merging of the 2 regions caused nightmare in managing the IP addresses of the 2 regions all together. This is due to the reason that managing the IP address statically results in IP conflict and broadcasting. This led to complications of slow network connection and the staff can hardly communicate. The main purpose of this project is to resolve broadcast by sub netting and using VLAN. Sub netting allows the creation of multiple logical networks that exist within a single like Class A, Class B and Class C. In this scenario of IDLWILD we are using Class B network which we will subnet to have network 172.16.0.0. The natural mask is 255.255.0.0 or 172.16.0.0/16. Extending the mask to anything beyond 255.255.0.0 means you are sub netting. When you subnet you will have the ability to create a lot more subnets than with the Class C network. Using five bits from the original host bits for subnets will allow, to have 32 subnets

Secret Recipe Business Plan

Secret Recipe Business Plan Secret Recipe, Dubai, UAE will be a franchise of catering company called Secret Recipe owned by ALAMERI Group. The business is in food services industry and has successfully established its brand name in Malaysia, Singapore, Indonesia, Thailand, China, Philippines, Pakistan, Brunei, and Australia by virtue of its fine quality cakes, fusion food and distinctive service. The purpose for this business plan is to provide a written guide for managing the franchise of Secret Recipe, Dubai, UAE and seek financing from relevant institution and investors by providing detailed funding business plan. This franchise of secret recipe will be owned by Taleb AlAmeri and will be primarily involved in the provision of variety fresh food products such as cheese, chocolate and fresh, cream cakes, health cakes and brownies. The business mission statement is to be solution oriented innovatively and the vision is to be one of the leading telecommunication companies in Africa. The objective of the company is to provide job opportunities youths, generate income for owners and to give 10% of the revenue back to the community. The fundamentals of this business success rest with the capacity to deliver value to the customer at competitive prices (Ajami, Cool Goddard, 2006).With the background knowledge of stiff competition in the food industry within Dubai, this franchise aims at attracting and retaining its customer through the provision of fine quality food products and distinctive service. In addition to the above, the fundamentals of this business will encapsulate best demonstration of ethical practice within both the internal and external environment. This is because of the backdrop knowledge of the stringent measures and legislations that govern the food industry. The food industry is expected to grow in the near and innovative approaches to food service and delivery will define success within this industry. Changing consumer demographics and increasingly complicated customers are pushing food service businesses to the drawing boards (Toyne Nigh, 1999). The success of this franchise will depend on the capacity to create a powerful market niche that cannot be broken. General Company Description What makes the business very unique is the realization that businesses and consumers are increasingly demanding more leading edge in service and product delivery in the most efficient, time saving and reliable way (Hill, 2008). The Secret Recipe situated at Dubai Mall, UAE a franchise of Secret Recipes will be primarily involved in the provision of fine quality cakes and fusion food. This will encompass the provision of more than 20 types of fusion food, 40 cake creations and pastries, with a flavorful range of ice cream and beverages. Mission statement: To provide world class food services to the customer. Vision: To become a leading provider in fine quality cakes and fusion food. The company will offer value addition services innovatively using the existing technology for reliability and efficiency. With a powerful website to be developed, the customers will be able to sample and purchase their preferred choice of quality fine cakes and fusion foods online. The website will be used to advertise and sell the products and services offered by the company. Company Goals and Objectives Goals To have the franchise operating exactly three months after receiving adequate funding. Obtain $ 200,000 of capital by 31st December 2010 to staff and launch the business towards achieving its long term goals. To attain the stated year goal of recruiting employees by the beginning of the year 2011. Objectives Achieve excellent levels of high ethical standards within the food industry. Have a healthy, successful company that is a leader in customer service and that has a loyal customer following. Achieve a sales target of $20,000 within the first three months of the operation. Business Philosophy: The most important aspect of this business is to provide value to the customer through distinctive service and in a manner that guarantees their return. The more than 20 types of fusion food, 40 cake creations and pastries, with a flavorful range of ice cream and beverages will be sold to all customers of different backgrounds in United Arabs Emirates. However, I envisage to draw the larger bulk of my customer base from the residents of Dubai City. Because of the increasing innovative marketing approaches, the marketing strategy will strive to reach customers of diverse backgrounds and will then be narrowed down to touch on the specific market niche. Food industry is a growth industry that has leaped from one phase to the other and is expected to record tremendous growth in the future. Changes that will arise in the future will mainly be in regard to changing demographics and the complexity in the demands of the customer. This will also include changes in technology that will define the operations and customer service delivery (Singh Delios, 2005). My company will stay in tandem with the changes in the food industry and at pace with technological advancement to reap the most out of the benefits presented by these two growth scenarios. My greatest strength and competency that will also be my competitive advantage is the unrivalled experience in the food industry and chain management. As the owner of this franchise, I plan to put in an aggressive and innovative marketing campaign within this industry that will immediately smoke away competition and enhance my entry and strong regional presence in Dubai. I strongly believe my competitors strength will be based on tears of operation that have made them acquire a deeper sense of understanding of the customer. In fact, after an intensive research on the competitors strengths and weaknesses, the company realized that the competitors strengths are based on the experience, location, advertisement, employee, technology, financial, political connection and goodwill. I plan to plough in my vast experience in management within the food industry to his business and ensure its survival. In addition to the above, my capacity to raise capital that will cover important business start-up areas will provide me a competitive advantage against my competitors who has struggling with waning confidence in small and medium sized entrepreneurs by banks. Furthermore, I expect to reap from the efforts of the main company in regards to brand and image building. This will be a sole proprietorship type of business. This is because I believe the inability to raise adequate capital forms the reason behind enlargement and partnerships. Capital is not a problem in my case. Furthermore, sole proprietorship offers the best and simplest environment in regard to decision making (Cherunilam, 2004). I plan to execute my decisions and discharge my duties within this business without any opposition and inhibition. Products and Services This will be an entirely food business that will only deal with the products of the mother company. I will sell the more than 20 types of fusion food, 40 cake creations and pastries, with a flavorful range of ice cream and beverages offered in allÂÂ  Secret RecipeÂÂ  outlets. After an intensive research on the competitors strengths and weaknesses, the company realized that the competitors strengths are based on the experience, location, advertisement, employee, technology, financial, political connection and goodwill. These will form the areas that will define my competitive disadvantages. As a new franchise, I plan to get into the market at a slightly reduced sales fee in comparison to my competitors. This will form the introductory offer of the business that is aimed at drawing the customer to the business. Marketing Plan My marketing ill revolve around the need to adapt my brands to meet local and regional culture because of the understanding that branding act as a means of linking items that are part of product line and emphasizes the individuality of product items. This emphasis can only be achieved in instances where products items fit into the local or regional culture of the target market. This is a food industry and therefore I expect very little conflict with the culture of the people in Dubai. In addition to the above, the adapting of these brands to fit into the local and regional culture of the target market is a competitive advantage that is commonly used by competing firms engaged in the sale of similar or substitute products. In essence, this means that a firm that outperforms the others in the primary goal of performance-profitability-has competitive advantage. A reference back to the branding generic model of firms can be made, where the question of whether firms are branding strategies is cost driven or value added arises. Value added competitive advantage arises in instances where competing firms attach strong cognizance to the understanding of local or regional culture before launching their product lines. Companies succeed in branding strategies that their rival because their products are positioned to capitalize on their unique characteristics of a local or regional group and which, in one or more aspects, their rivals find hard to emulate. This competitive adv antage gives it a basis for outperforming competitors because of the value that firms are able to present to the customer. These will define my marketing plan. Management and Organization As I have stated, the day to day management of the business will be my primary duty with the support of other individuals that will form part of employees in the company. The procedure of running the business will be through delegation as per the chain of current bellow DIRECTORS CEOs SENIOR MANAGER FINANCE MANAGER ASSISTANT AGENTS WATCHMEN HUMAN RESOURSE MANAGER The managers and the staff are very important for the company as they are the means through which goals are realized, duties are carried out and they provide the links between the organization and the clients. 5.2 Management team The initial management team consists of the founders who will be working jointly as shareholders. The founders of the company share a vision for the success of Secret Recipe Franchise situated in Dubai, UAE. Their duty will involve day to day running of the business which involves finance, logistics and human resource. In future the company will have a general manager, finance manager and human resource manager who must have a degree or diploma with the relevant course from a recognized University or College. 5.3 Other personnel Apart from the management team, the company is having three (3) supervisors at the head office and one (1) assistant supervisor in every department. The company is planning to employ watchmen, office messenger and more assistant agents as we will be expanding. These personnel have and will have minimum qualification of O level education and diverse knowledge in the food industry. 5.4 Recruitment The management team has been able to recruit other personnel through networking and train them within the already existing outlets before they are posted to the new outlets. The business will also consider advertising through posters, internal memo, friends and relatives, internet, electronic media like radio and printed media like newspapers. The recruitment process will involve short-listing of the applicants, interviewing of the shortlisted applicants, selection of the successful applicants and finally issuing the appointment letter. We will also recruit through confirmation of the interns and the volunteers. 5.5 Orientation, training and developing of staff Secret Recipe Franchise Company will carry out orientation, training and development of staff through induction, on the job training, contract training, refresher courses, internship and evaluation after training. The company is looking forward to become custodians of a very fragile yet integral good: customer trust, therefore the company will maintain refresher courses to ensure all our staffs are properly aligned when it comes to personal integrity. 5.6 Remuneration/incentives 5.6.1 Salaries/wages The company will offer to the personnel a very competitive basic salary according to the qualification, experience, position and expertise. The salary will also be based on what the competitors offer and the companys returns. There will be a commission for the sales personnel and prompt payment for wages. 5.6.2 Fringe benefits Incentive is also another factor that the company has put at the top of priorities. Incentives will enable, motivate or encourage a particular course of action which in turn will contribute to the company success. We will offer allowances in terms of overtime, leave, millage, hardship and many more as they may arise. There will be bonuses including awards in terms of value for money and certificates. Currently the company provides tea, soft drink and has installed a television system. The business will soon embark on taking our staff to the trips, have insurance cover for them and remit contributions on their behalf to their respective insurance companies. 5.7 Support services The company will require the following support services; financial advisor, legal advisor, banking system, security support services, infrastructure and insurance services. 9. FINANCIAL PLAN The company has at its disposal a sum total of $20,000 as a financial source from directors personal savings. We are therefore looking for funding from other investors and banks. The business finance will be used to for the facilities, equipments, materials, cash for operating expenses and salaries, fees and other costs. 9.1 Capitalization 9.1.1 Own contribution Capitalization based on the shareholders contributions is $20,000. 9.1.2 Proposed funds from borrowing sources For the business to operate as proposed, the start-up cost must be met. The company is therefore proposing funds from borrowing sources of $ 20, 000 9.1.3 Total investment Total investment is the sum of own contribution and the proposed funds from borrowing sources which is $40,000. The following sections lay out the details of the financial plan for rapid, but controlled growth for the next one year. The simple structure to be adopted by the company will provide a great deal of flexibility resulting in few coordination problems hence quick reaction to changes in the market. 9.7 Measurement of profitability 9.7.1 Operating profit margin Operating profit margin = (operating profit/Revenue) x100 First year: Operating profit margin = (1,400/101,500) x 100 = 1.38% Second year: Operating profit margin = (4,730/131,950) x 100 = 3.58% Third year: Operating profit margin = (22,009/171,530) x 100 = 12.83% 9.7.2 Current Ratio Current Ratio = Current assets/Current liabilities Projected Current Ratio by the end December 31, 2011 = 21,000/11,200 = 1.875 9.7.3 Return On Investment (ROI) Return On Investment (ROI) = Net Profit/Investment Return On Investment (ROI) for the ended December 31, 2010 = 1400/23,000 = 0.06

Management Economics Essay

Introduction. The business cycle or economic cycle refers to the ups and downs seen somewhat simultaneously in most parts of an economy. The cycle involves shifts over time between periods of relatively rapid growth of output (recovery and prosperity), alternating with periods of relative stagnation or decline (contraction or recession). These fluctuations are often measured using the real gross domestic product. To call those alternances â€Å"cycles† is rather misleading, as they don’t tend to repeat at fairly regular time intervals. Most observers find that their lengths (from peak to peak, or from trough to trough) vary, so that cycles are not mechanical in their regularity. Since no two cycles are alike in their details, some economists dispute the existence of cycles and use the word â€Å"fluctuations† instead. Others see enough similarities between cycles that the cycle is a valid basis of studying the state of the economy. A key question is whether or not there are similar mechanisms that generate recessions and/or booms that exist in capitalist economies so that the dynamics that appear as a cycle will be seen again and again. Just as there is no regularity in the timing of business cycles, there is no reason why cycles have to occur at all. The prevailing view among economists is that there is a level of economic activity, often referred to as full employment, at which the economy theoretically could stay forever. Full employment refers to a level of production at which all the inputs to the production process are being used, but not so intensively that they wear out, break down, or insist on higher wages and more vacations. If nothing disturbs the economy, the full-employment level of output, which naturally tends to grow as the population increases and new technologies are discovered, can be maintained forever. There is no reason why a time of full employment has to give way to either a full-fledged boom or a recession. Text. Business Cycle, term used in economics to designate changes in the economy.  Ever since the Industrial Revolution, the level of business activity in industrialized capitalist countries has veered from high to low, taking the economy with it. Characteristics of business cycle are: -A trade cycle is wave like movement. -Cyclical fluctuations are recurrent in nature. -Expansion and contraction in a trade cycle are cumulative in effect. -Trade cycles are all pervading in their impact. -It is characterized by the presence of crisis i.e. downward movement is more sudden and violent than the change from downward to 0upward. -Cycles differ in timing and amplitude they have a common pattern of phases, which are sequential in nature. Phases Of Business Cycles: The ups and downs in the economy are reflected by the fluctuations in aggregate economic activities such as production, investment, employment, prices, wages, bank credits etc. The various phases of the trade cycles are: Prosperity: Expansion And Peak. This phase begins with the rise in the national output, consumer and capital expenditure, level of employment and inventories. Debtors find it more convenient to pay off their debts. Bank rate increases so credit facilities, idle funds for investment in production since stock prices increases due to increase in profitability and dividend. Purchasing power continues to flow in and out of all kinds of economic activities. Expansion continues with the multiplier process. In earlier/ later stages additional workers can be obtained by giving higher wage than prevailing in the market. Input prices increases rapidly which leads to increase in cost of production. As a result price increases and cost of living increases which lower the consumption rate. The demand for new houses, cement, iron, labor tends to halt and same is for furniture, automobiles etc. This makes reaching the peak. To summarize we can say that: -It is a turning point in the business cycle – the end of expansion -Economy at or close to full employment -Capital and Labor Utilization at a high -Prices and cost rise at a moderate rates -Firms profit at high -Interest rates rise -Consumers and firms expectations favorable Turning Point And Recession. After reaching the peak, demand starts declining. Producer unaware of this fact continues to increase production and investment. But after sometime they realize that their inventories are pilling up and they have indulged in over-investment. Consequently further investment plans will be given up-order for new machinery, raw materials. Demand for labor ceases. Temporary and casual workers are removed. Producers of capital goods and raw materials cancel their order. This is the turning point and beginning of recession. Further the income of wage and interest earners also decreases. This causes demand recession. Producer lower down the prices to get rid of inventories  but consumer expects further decreases in price and hence postpones their purchase. Investments starts declining leading to decrease in income and consumption, bank credit shrink and prices decrease. At this stage the process of recession is complete and the economy enters the phase of depression. To summarize this: -Consumer spending falls -Investment spending falls -Inventories accumulate -Firms profit’s decline -Business Failure increase Depression And Trough. This is the phase of relativity low economic activity. It indicates fall in production, increased unemployment and a rapid fall in the general price index. Workers lose their job, debtors find it difficult to pay off their debts, and investment in stock becomes less profitable. At the depth of depression, all economic activities touch the bottom and phase of trough is reached. Weaker firms are eliminated from the industry. At this point, the process of depression is complete. Due to unemployment, labor starts working at lower wages. Consumer expects no further decline in price and start spending. Hence demand picks up. Stock prices fall during recession; the prices of raw material fall faster than the prices of the finished products. Therefore profitability tends to increase after the trough. Producers’ start replacing worth-out capital, investment picks up and employment gradually increases. Following this demand increases, bank credit becomes easily available at a lower rate. Due to increase in income and consumption, the multiplier effect increases the economic activities. The phase of depression comes to an end over time  depending on the speed of recovery. To summarize this: -The turning point in the cycle – the end of contraction -Characterized by high unemployment and low consumer demand relative to industry capacity -Greatest period of excess capacity over the cycle -Business profits are low or negative -Some prices are falling other unchanged -Consumers and firms expectations about future are bleak Recovery. It starts when prices further stop falling. Producers see no risk in undertaking production. Firms use idle capacity to increase production. This generates employment and income, which creates additional demand for consumer goods and services. Businessman when realize increase in profitability. Hence they speed up production machinery. Businessman starts increasing their inventories, consumer start buying more and more of durable goods and variety items. With this process catching up, the economy enters the phase of expansion and prosperity. The cycle is thus complete. To summarize this: -Employment, production, prices and wages begin to rise at roughly the same time -Expectations of consumers and firms optimistic or favorable -Investment spending increases -Consumer demand rises Causes of Cycles. Economists did not try to determine the causes of business cycles until the increasing severity of economic depressions became a major concern in the late 19th and early 20th centuries. Two external factors that have been suggested as possible causes are sunspots and psychological trends. The sunspot theory of the British economist William Jevons was once widely accepted. According to Jevons, sunspots affect meteorological conditions. That is, during periods of sunspots, weather conditions are often more severe. Jevons felt that sunspots affected the quantity and quality of harvested crops; thus, they affected the economy. A psychological theory of business cycles, formulated by the British economist Arthur Pigou, states that the optimism or pessimism of business leaders may influence an economic trend. Some politicians have clearly subscribed to this theory. During the early years of the Great Depression, for instance, President Herbert Hoover tried to appear publicly optimistic about the inherent vigor of the American economy, thus hoping to stimulate an upsurge. Several economic theories of the causes of business cycles have been developed. According to the under consumption theory, identified particularly with the British economist John Hobson, inequality of income causes economic declines. The market becomes glutted with goods because the poor cannot afford to buy, and the rich cannot consume all they can afford. Consequently, the rich accumulate savings that are not reinvested in production, because of insufficient demand for goods. This savings accumulation disrupts economic equilibrium and begins a cycle of production cutbacks. The Austrian-American economist Joseph Schumpeter, a proponent of the innovation theory, related upswings of the business cycle to new inventions, which stimulate investment in capital-goods industries. Because new inventions are developed unevenly, business conditions must alternately be  expansive and recessive. The Austrian-born economists Friedrich von Hayek and Ludwig von Mises subscribed to the overinvestment theory. They suggested that instability is the logical consequence of expanding production to the point where less efficient resources are drawn upon. Production costs then rise, and, if these costs cannot be passed on to the consumer, the producer cuts back production and lays off workers. A monetary theory of business cycles stresses the importance of the money supply in the economic system. Since many businesses must borrow money to operate or expand production, the availability and cost of money influence their decisions. Sir Ralph George Hawtrey suggested that changes in interest rates determine whether executives decrease or increase their capital investments, thus affecting the cycle. Regulating the Cycle Since the Great Depression, devices have been built into most economies to help prevent severe business declines. For instance, unemployment insurance provides most workers with some income when they are laid off. Social security and pensions paid by many organizations furnish some income to the increasing number of retired people. Although not as powerful as they once were, trade unions remain an obstacle against the cumulative wage drop that aggravated previous depressions. Schemes to support crop prices (such as the European Common Agricultural Policy) shield farmers from disastrous loss of income. The government can also attempt direct intervention to counter a recession. There are three major techniques available: monetary policy, fiscal policy, and incomes policy. Economists differ sharply in their choice of technique Some economists prefer monetary policy, including the American Milton Friedman and other advocates of monetarism, and is followed by most conservative governments. Monetary policy involves controlling, via the  central bank, the money supply and interest rates. These determine the availability and costs of loans to businesses. Tightening the money supply theoretically helps to counteract inflation; loosening the supply helps recovery from a recession. When inflation and recession occur simultaneously–a phenomenon often called stagflation–it is difficult to know which monetary policy to apply. Considered more effective by American economist John Kenneth Galbraith are fiscal measures, such as increased taxation of the wealthy, and an incomes policy, which seeks to hold wages and prices down to a level that reflects productivity growth. This latter policy has not had much success in the post-World War II period. Conclusion. Thus we can say that the central idea of business-cycle literature, that the economy has regular and periodic waves–a cycle–lasting for several years, has few adherents today. Perhaps such cycles never existed, or perhaps they once did but no longer do because the government now plays an active role in the economy. However, the business-cycle approach remains useful because it is an easy way to introduce a number of macroeconomic topics, including the adjustment process that remains central in macroeconomics.

Magical Urbanism

1.‘Magical Urbanism’ is the term that Mike Davis uses to describe the situation of the Latinos in urban America.   They have moved into the United States and immediately formed subgroups of their own within established cities, and yet unlike other minority ethnic groups their numbers are growing in size and they are developing the ability to seriously affect politics of not only their current country of residence but Mexico by way of California and New York.   Magical urbanism is the power of these minority groups to grow and become capable of such social influence while being comprised of poverty stricken citizens who as individuals have little influence over local or state affairs. 2.Immigrants tend to be poor because of the social factors that are inflicted on them at the time of arrival in their new country of residence.   Like in the case of Latinos in America, immigrants can find themselves without an established social support structure based on family and friends.   Networks like these are important to everyone, regardless of citizenship status.   You need a network of employer references, rental accommodation references, credit references, and failing all of those, close relatives and friends who can support you until you have achieved all of these things anew in a different nation. 3.Lack of Opportunity:   We are raised to believe that opportunity is everywhere around us; that all we need to do is reach out and grab it with both hands.   When it comes to immigrants, however, it isn’t so simple.   These people can come to the United States with very few resources from which to both identify and make use of the opportunities for success that are clear to those of us who have grown up here and understand the social system.   This factor can be identified as part of the ‘culture of poverty’, as it is inherent in virtually all immigrant groups everywhere. Hard Work:   Hard work; it’s what you expect to do to climb the ladder of social success in any city.   Money and quality of life does not come of idleness, and for people of minority status this is no secret.   The national spirit suggests that all you need to do is work hard, and you will be able to achieve your dreams – this is not exactly the case with the poor people of color in America, who may have several family members working long, hard hours and only bringing in minimum wages.   This is another factor in the culture of poverty. Institutional discrimination:   Established social systems can tend to work against immigrant groups.   In America there is a lot of employer legislation that requires university educated workers, American educated workers or a native grasp of English before anyone can be hired on.   Jobs that do not require these things will be the minimum wage occupations with very little room for growth or improvement.   Unless immigrants have the primary resources necessary to start a business or become educated after relocating, they will find themselves caught in the poverty trap.   This is purely a structural explanation of immigrant poverty, as Mike Davis explains it. Reference Davis, M (2001). Magical Urbanism: Latinos reinvent the US city. United States: Verso Press.   

Private Equity in Southeast Asia Region Essays

Private Equity in Southeast Asia Region Essays Private Equity in Southeast Asia Region Essay Private Equity in Southeast Asia Region Essay As many investors and finance people know, the United States has been the biggest laying field for PEE firms since 1980 as it is a developed market with mature structure and clear regulations. However, due to competition and limited resources in the United States, investors and PEE firms have a growing need for a new market to grow and expand their business. One of these new, emerging markets for PEE is the Southeast Asia region. This Southeast Asia region is characteristic of developing countries that are rich with natural resources. Most of the countries in this region of Southeast Asia have a lot in common including; they are developing countries, they re rich with natural resources and they all have a big market in terms of population. One of the exceptions in this region is Singapore as it is considered a developed country, especially in the finance sector. Southeast Asia is very lucrative in the sense that it offers a lot of opportunities for investors, including PEE investors and firms, however, in order to realize the revenues and returns of these opportunities these firms would need more knowledge on how to deal with the challenges in this new emerging market. Private Equity in Southeast Asia The emergence of Private Equity (PEE) markets outside the United States and Europe as significantly broadened the scope of portfolio diversification. Also, due to the growing importance of PEE in nontraditional markets, the need for investors to broaden their knowledge has increased significantly as knowledge is the key in regards to international investing as a whole. Hence, the purpose of this paper is to provide relevant information about PEE market in the Southeast Asia as well as provide recommendations on how to deal with the challenges. Market Typology With the exception of Singapore, most companies in the Southeast Asia region are developing countries and are therefore referred to as an emerging market. Table 1 describes the market typology of PEE market based on four market types. Table 1 Market Typology Mature Markets Non-traditional markets in advance economies Emerging markets Frontier markets Economic structure Sophisticated Sophisticated Relatively developed Early stage of economic/financial development Economic stability High High Track record is being establish Track record still short Size of the economy and growth Large/high level of prosperity Varies Varies with high growth prospect Small size, lower level growth Debt markets Highly liquid Liquid Emerging Still embryonic Exit markets Developed public equity markets with high market capitalization Developed public equity markets with significant market capitalization Relatively developed public equity markets with sufficient market capitalization Underdeveloped Global PEE firms Investing Investing Investing Very limited, if any investment Domestic PEE industry Developed Emerging Emerging Rudimentary PEE exits Considerable history Track record being established Visible exits already occurred Very limited Key markets United States, ELI-1 5, Switzerland Australia, Canada, Hong Kong, Japan, Singapore Brazil, China, India, Russia, South Korea, Slovenia, South Africa, Southeast Asia countries: Indonesia, Vietnam, Thailand, Malaysia, Philippines Bulgaria, Colombia, Pakistan, Astrakhan, Tunisia, Ukraine Source: Cornelius (2011). The term emerging markets has been widely adopted by international investors to refer to all developing countries. Specifically, Emerging PEE markets refers to those where an indigenous PEE industry is already developing and visible exits have begun to attract a growing amount of interest among international investors. Southeast Asian Private Equity market In general, PEE investment is growing in Asia entirely. According to Perrine, PEE funds share of investments in Asia has grown from a mere 2. 6% in 2006 to 10. 6% in 2012, due to PEE funds investing a total of SIS$27. 8 billion in Asia (Figure 1). Although some of this increase in share can be attributed to the decline in PEE investment in North America and Europe as a result of the financial crisis, the PEE investment in Asia continued to grow at an average annual rate of 8% from 2006 through 2012. In fact, trends show that Asia was the only region in which PEE investment grew over this timeshare. Figure 1 Global PEE Investments by Region (Left) and Trend in Asia for P Deals Source: Pretentiousness Asia has continued to become increasingly attractive as a P destination over the years. According to an investor survey conducted by Ernst Young that involved both general and limited partners, 36% of the respondents believe that PEE investment in Southeast Asia will in fact increase. The survey results from 2012 to 2014 (figure 2) shows an increase in PEE investors confidence level AIBO Southeast Asia Market in comparison to China. Figure 2 PEE Investors Survey: Which geography will see the most PEE activity in the next 12 months? Source: Ernst Young Based on Perrine data, the Southeast Asian PEE Investment reached the highest peak I terms of both investment value and number of deals in 2007, right before the financial crisis. There was a slowdown during the crisis but the markets start to bounce back in 2012. Figure 3 below shows the PEE Investments in major Southeast Asian countries. In Indonesia, Malaysia, and Thailand, the PEE Investments started to increase in 2012 after the financial crisis. While the PEE Investments in Singapore, Vietnam, and Philippines in 2012 started to recover after the crisis. Figure 3 PEE Investments in Southeast Asia Countries Source: Predisposed on Boston Consulting Groups (BCC) report, from 2005 through 2010, Southeast Asia accounted for about 18 percent, by value, of PEE deals in Asia. In 2010, the value of the regions deals was about one-fourth of Chinas and 30% of Indians. Deal sizes and volumes vary significantly by country: Singapore has historically led in the number and size of deals, while Thailand and Vietnam have small and relatively underdeveloped PEE markets and have therefore lagged. Indonesia is extremely active indeed, the largest PIP in the history of the Indonesian stock market was a private-to-public deal. On the other hand, trend shows that Malaysia has delivered mix results. Overall, with a host of new players entering the region, Southeast Saiss share of Saiss deal pool looks set to continue to increase. The growing interest from investors and the recovery of PEE markets in Southeast Asia from the crisis is as a result of several growth-driving factors including: Macroeconomics growth According to Pain Company data, the total GAP in Southeast Asia in 2011 was SIS$2 trillion, accounting for 4. 2 percent of the world total GAP and is expected to row at 4. To 7. 9 percent compound annual growth rate from 2011 to 2016. Natural resources The Southeast Asia region has lots of natural resources such as oil and gas, mineral, marine resources, fertile-land for plantations, palm oil, agro commodities, and many more. These natural resources can stimulate growth opportunities for companies who operate in the region that will lead to signifi cant returns in their investments. Demographic Southeast Asia was home to a mostly young and dynamic population of nearly 600 million in 2011 and this population is projected to grow at 10. Percent compound annual growth rate from 2011 through 2016. With this type of demographic, Southeast Asia offers a big market for consumption especially in its lower to middle class population. In addition to creating a large consumer market, Southeast Asia demographic also provides human resources for companies to support their business in this region with relatively lower costs compared to other regions or countries. Economic Liberalizing Economic reform has spread across the region with democracy in politics and law enforcement significantly improving. Restrictions on foreign investments and winnowers have been relaxed, and some governments are actively developing the PEE sector. At the same time, the connection between countries in Southeast Asia is strengthening to create rationalization and intraregional trades. Capital market Another driving factor is that the capital markets in Southeast Asia are generally underdeveloped and predominantly revolve around indirect finances. In other words, access to traditional capital markets is generally difficult however not for large companies and therefore PEE funds will emerge as a source of growth capital for rowing companies in need of financing. China and India Slowing Economic Growth This is an external factor that creates opportunity for Southeast Asia to grow the PEE markets. Many investors shift their focus to Southeast Asia due to economic slowdown in the two biggest markets in Asia, China and India. Besides economic slowdown, PEE firms reportedly encountered challenges in these two countries. The main challenge in both countries is difficulty exiting investment or selling the portfolio companies. Ipso in China and India are currently inhibited by the regulatory body and market environments. Beside PIP, the strategic selling also faces a problem because of the difficulty of negotiating attractive sales price with potential buyers, particularly in India in the wake of economic slowdown and currency depreciation. All the opportunities and driving factors create optimism for the investors including PEE investors. Result from a Joint survey conducted by Pain Company and the Singapore Venture Capital PEE Association (SVGA), showed clear signs of optimism about the regions prospects, which could have marked 2012 as the start of Southeast Saiss time to shine. Respondents looked for deal activity to increase substantially, especially in consumer, healthcare, and energy sectors. PEE firms that are active in the region reported that they would boost their investments in Southeast Asia, with some 40% of respondents planning to invest more than SIS$1 50 million in 2012, compared with Just 20% in 2011 (see figure 4). Figure 4 Survey Result Growing Optimism for PEE Markets in Southeast Asia One of the negative effects coming from those opportunities is the growing competition for PEE investments deals. Such competition has led to concerns about oaring valuations that make most of the acquisition prices in Southeast Asia rise since 2012. The main cause of this problem is the limited number of good portfolio companies. Most of the PEE firms focused their deals on consumer-related sectors such as food, beverages, healthcare, media and telecommunication, and energy. It is understandable since these sectors are the one that have the best growth and return opportunity due to consumer market growth (huge and young population) in Southeast Asia. Moreover, Southeast Asian countries still possess some classical robbers that can be considered as the major risks for PEE firms to invest in Southeast Asia. These risks include: Economic risk Economic conditions in most countries in South Asia, including Singapore are facing some macroeconomic risks, such as inflation, currency exchange fluctuation, and the dependency of foreign investment. All these risks can cause instability to the economic condition. According to Cornelius (201 1), between the time span of 1993 and 1999, many PEE firms failed to meet investors return expectation due to the currency exchange rate changes. Inflation is another big problem in Southeast Asia, inflation can suddenly spike because of the sharply higher commodity prices thus leading to a considerable increase in the general price level. According to Cornelius, in emerging markets, including Southeast Asia, average consumer inflation surged to 9. 2 percent in 2008 from 5. 6 percent in 2006. The inflation rates can have a big impact on real investment returns. Political risk Political instability has been identical with the Southeast Asia region for decades. Political instability causes investment uncertainty and could potentially result in a monumentally different investment regime. Governments in Southeast Asian countries still have a big role in business and economics. They control the business by imposing several regulations that can change from time to time creating uncertainty in business. Moreover, every time there is a change of government, the policy will be changed and can sometimes harm the investments that have already been made. Unanticipated changes in regulations have substantial return implications through their impact on production costs, market prices, and the repatriations of profits. Governance risk Except for Singapore, all the countries in Southeast Asia hold governance problem, especially corruption and law enforcement. Law enforcement is very important for investors in relation with the protection of investors rights in case of disputes. There is an absence of well-functioning and predictable legal institutions in most countries that can give a negative effect for business and legal assurance. Of all the risks we consider in this section, corruption perhaps the most evil one. Corruption has many dimensions, including tax bribery, procurement bribery, and Judiciary bribery. Corruption has flourished in previous years within the Southeast Asia region due to complex bureaucratic regimes. This risk can severely distort policy dimensions in all areas imposing huge macroeconomic costs. Conclusion and Recommendation 2014 will continue to be a competitive year for PEE investors in Southeast Asia. Pain ; Company stresses that with more PEE firms turning their focus to the region and cash rich corporate on the prowl for acquisitions, valuations in 2014 are expected to remain at lofty levels. Respondents polled by the research outfit pointed o a scarcity of high quality target companies as one of the most pressing challenges. Macroeconomics volatility, political instability, and corporate governance are still the major threats in Southeast Asia. But with all the opportunities going forward, Southeast Asia will become the deal making hotshots, drawing an influx of PEE firms from the United States and Europe. However to get all the benefits that Southeast Asia offered and to get the best investment returns, PEE firms should be able to overcome the risks and challenges that exist in the region. Some of the strategies and commendations are: Choose a focused Model An investing model focused on a specific industry sector or on Just one or two countries will maximize the chances of sourcing and converting the right deals. For example, targeting consumer sectors, since this sector offers a robust growth due to increases in middle-class populations and growing consumption. The biggest beneficiary country of consumption growth driven by growth in the middle class is Indonesia, the most populous country in Southeast Asia, with a population of over 240 million. Enhanced due diligence and deal-execution process Allow plenty of time for due diligence process, especially when creating market scenarios and mapping industry structures and value chains. PEE firms that excel in converting more acquisitions into winners and avoiding losers use probing due diligence process to dig deeper into a potential targets operations before they commit to an investment. Superior due diligence is very critical in Southeast Asia where information often less transparent and reliable sources of date are hard to find. A good due diligence can also reduce the negative effect from uncertainty in economic and political condition. Proprietary sourcing and smart partnership To find the best companies quickly and avoid overpaying, fund managers need to forge alliances and have people on the ground that can spot opportunities before competitors do. To be able to do that, PEE firms should reinforce local connections and consider partnerships with conglomerates or family groups seeking to institutionalize their investment capabilities. Other potential partners include local PEE funds as well as local banks, government-linked organizations, and state-owned wealth funds. They can facilitate access and help build up a steady deal flow. PEE firms should consider

#65279;Tchaikovsky

#65279;Tchaikovsky Peter Ilyich Tchaikovsky Peter Ilyick Tchaikovsky was born on May 7th, 1840 in Votkinsk, Russia. He was born second in a family of five sons. Tchaikovsky seemed to have a natural talent for music since he was young. At age five he started to take Piano lessons from his teacher Maria Markovna Palchikova and soon became better than her. As a pre-teenager, he attended school at St.Petersberg. His mother died in 1854 due to cholera. Peter again took piano lessons, this time with Rudolf Kundinger. In his youth, he continued to study law, attending the School of Jurisprudence although he found it quite boring and stopped. Tchaikovsky became rebellious to his family when he quit his job as a clerk for the Ministry of Justice, and began to study music at St. Petersberg Conservatory. Among his hobbies at the time were going to the Italian Operas (which were very popular in Russia at the time) and listening to Mozart.Saint Petersburg Conservatory, where Rimsky-Korsak...Due to his lack of educa tion though, at age 21, he could not tell how many symphonies Beethoven had composed.Tchaikovsky was first tutored by Zaremba, who taught him harmony and theory, although at the time Peter did not know if he wanted to be a musician or not. Anton Rubinstein was his next teacher, who taught him composition. There he composed the overture to "The Storm" and Overture in F (which he also conducted). In 1866 he moved to Moscow accepting a teaching job in a new conservatory along with Nicholas Rubinstein, Anton's brother. There he composed his first symphony, "Winter Dreams"(in G Minor). This symphony was significant because it was composed at night where he was having insomnia, along with headaches and hallucinations. This is why he was said to have never composed at night ever again.In 1874, Tchaikovsky composed the concerto in B flat Minor, which he was going to dedicate to his teacher Nicholas, but Nicholas criticized his work. He later composes symphony number 4 in F Minor. Tchaikovsk y was married to Anotonina Ivanovna Milyukov, but they later separated. Peter Tchaikovsky moved to a country house of at Maidanovo, and continued his Manfred, with help from Balakirev. At age 35, he produced what might me his most famous opera, Swan Lake in 1875.In 1888, Tchaikovsky made a highly successful international concert tour as conductor, meeting at Leipzig Brahms, Grieg and others, at Prague Dvorak, at Paris Gounod, Massenet, and Paderewski. Finishes his Fifth Symphony, in E Minor. Three years later, he Visits America, and conducts his own compositions at the ceremonies opening Carnegie Hall, New York. In 1890, he had the production of the opera Sleeping Beauty. In 1892, he has the first performance of the Nutcracker Suite.In the last years of his life, Peter returned to his country house at Klin in January of 1893, and begins his Symphony No.6, the "Pathetic." He later went to England in June to receive an honorary degree from Cambridge University, together with other fam ous composers like Boito, Bruch, Saint-Saens and Grieg. The Sixth Symphony performed under his direction at the St.Petersburg on Oct. 28, without marked success. In November 6, 1893 Tchaikovsky died. Reasons for his death are controversial. Some say that he developed cholera and dies in St.Petersburg others say that he committed suicide by taking poison to escape accusations of homosexuality.Operas Names Dates Composed The Voyevode 1867-68 Undine 1869 The Oprichnik 1870-72 Vakula the Smith 1874, 1875 Eugenen Onegin 1877-78 The Maid of Orleans 1878-79, 1882 Mazeppa 1881-83 Tcherevichky Oxana's Caprices 1885 Queen of Spades 1890 Iolanthe 1891 Ballets Names Dates Composed Swan Lake 1875-76 The Sleeping Beauty 1875-76 The Nutcracker 1891-92 Dmitri the Pretender introduction to Act 1 1870 Snow Maiden 1873 domovoy scene in The Voyevode 1886 Hamlet 1891

Pricing Strategies and Sales Analysis Essay Example | Topics and Well Written Essays - 750 words

Pricing Strategies and Sales Analysis - Essay Example The village flower company employs many pricing strategies in order to achieve desirable revenue, which is an essential variable in the expansion of the company. The strategies used by this company to boost sales include comprehensive marketing and online-selling of its flowers. This aspect enables the company to access many customers from diverse backgrounds of culture, race, and beliefs. Consequently, the company’s flowers get an international recognition and much revenue. For instance, the access to big data has enabled the company to gather crucial information with regard to pricing trends in the two flower companies. Reich asserts that new methods of flower differentiation and diversification have been learned after the acquisition of bid sets of data from a global platform. Moreover, the management in The Chicago Company has learned new management strategies through the recent access to large volumes of data. The big information has culminated in the restructuring of org anizational structure for efficiency and effectiveness in The Chicago Company operations. According to Reich, the big data has led to the realization of new ways of achieving global customer satisfaction, continuous improvement and total quality management within the company. These principles are essential in the thriving of The Chicago Company. In the case of transportation of the flowers, there is the use of sensors on trucks in order to streamline the delivery of flowers through shipping. This contains the problem of stock-out cost.

Porto Maghera Strike and Its Impact in Employment Relationship Essay

Porto Maghera Strike and Its Impact in Employment Relationship - Essay Example Based on this research the labor condition of the United States of America today will never be the same if not for the various battles and protests our countrymen fought for. Indeed, the labor history of America is extensive and extended episodes of human drama which are deemed important and necessary towards the emancipation of American workers. The established labor laws and rules were somehow abusive and clear violations to human rights. The power was centralized within the organization leaders and the laborers were controlled at all cost to institute fear, thus ensure compliance. However, with the continuous fights that the American laborers went through and the unceasing cause that they all stood up for, slowly the labor condition in the history of the United States changed dramatically in favor of the common people. True that these changes and improvements caused difficulties, struggles, and even lives. As America learned to unite and formed unions to battle against discriminat ion and prejudice, gain the right to representation, and utilize the collective bargaining process as the heart of their actions, the American workforce eventually found success in building a strong labor movement that brought the labor industry as to what it is today. Labor movements are products of intense yearning for equality and balanced control between the management and the employees. The unequal power that exists within a workplace and the institution that dominate an organization often lead to oppressed and exploited workers. In time, these workers will break out from these abusive power relations and institutionally prescribed rules to instigate changes in their roles as workers, thus labor unions or strike. As labor historian Jeremy Brecher said: â€Å"In periods of mass strike, workers act outside of institutionally prescribed roles. They reinvent themselves as historical actors and as part of a group making history together. When workers strike and otherwise withdraw t heir cooperation from existing institutions, they reveal that those institutions are not the fixed things they appear – that in reality they depend on the living human beings whose activity makes them up. Win or lose, mass strikes reveal the truth about social relations hidden in an alienated society.† (Brecher 1997, p. 275) In this paper, the subject of strike or labor union will be explored in terms of how it changes and improves the course of labor conditions, specifically when it comes to employee relations and roles of taken on by the management and the employees. This discussion, however, will not focus on the American labor history, but rather on the general impact that labor union brings to the society and working conditions of people. In order to successfully present the topic, the case of Porto Marghera workers will be examined through the documentary film Porto Marghera: The Last Firebrands (2004) to find out how the workers of Porto Marghera struggled for be tter working conditions and eventually improved employee relations. Porto Marghera: The Last Firebrands (2004) Porto Marghera: The Last Firebrands (2004) is a documentary film detailing the historical encounter of independent workers’ union in the industrial region of Venice, Italy during the late 60s and early 70s. This film features the real life experiences of the worker-activists at Porto Maghera petrochemical works and outlines the intricate and often on edge relations between employees and political militants and shifting class organization through crucial instances of fights. This documentary shows how radical formation of political unions and ideologies towards their liberation from abusive working environment led the workers at the plant to challenge the conventional labor power structure and capital and change the course of labor condition in their favor. In the film, the featured petrochemical workers