Inside Job Movie Review Essay

â€Å"Earth provides enough to satisfy every man’s needs, but not every man’s greed,† said Mahatma Gandhi and this is somewhat the crux of this movie. Inside Job is directed by Charles Ferguson, and it highlights the reasons and the consequences of the global financial crisis of 2008. This movie is basically related to recession that was caused by the inefficiency of the industry and the unfavourable banking practices. The director has conducted several interviews and has exposed some hidden realities. The movie clearly shows that this crisis was not accidental, and that there were many people, including regulators, politicians, businessmen, who were actively involved in this destruction. These people and large financial institutions knew what they were doing was not right, but everyone’s focus was on self-interests as, at the end of the day, it’s all about making money. This documentary is divided into five parts. These include how we got here, the bubble, the crisis, accountability, and where we are now. Being a student, I would focus on the first three parts in my review. According to this movie, a few financial institutions have a direct link with the crisis. These include investment banks, insurance companies, rating agencies, etc. Main investment banks were Goldman Sachs, Morgan Stanley, Lehman Brothers, Merrill Lynch, and Bear Stearns. The important insurance companies included AIG, MBIA, and AMBAC. Moody’s, Standards & Poor’s, and Fitch were the rating agencies. Other financial institutions that played an important role were Citigroup, and JP Morgan. The main problem started when the deregulation period began which lead to saving & loan crisis, ultimately resulting in a few ‘big firms’ who all together disturbed the whole financial system. The housing industry was at its peak when this all started. The standard of living, environment, the overall economy and everything else in well-established and developed countries was running smooth but this financial crisis destabilized even these nations. Deregulation began and many banks were privatized and given freehand, which affected the economy. As a result, in countries like Iceland, small banks operating locally borrowed excessive amounts of money, that were even more than Iceland’s entire economy. First deregulation was related to savings & loans, allowing risky investments that ultimately failed and cost people their savings. This deregulation continued with changing administrations and the large firms kept on growing. A few mergers took place that promoted the concept of investing consumers’ savings in risky investments. Next, there was a massive increase in internet stocks creating a huge bubble. Along with this, corruption in Wall Street was increasing and money laundering was becoming common. Money laundering is basically hiding the illegal means of earning money. With new technology and hi-tech businesses, use of derivatives was increasing which made markets unstable. These were traded in unregulated markets that are in OTC (Over the Counter) markets. The regulators and other concerned parties did not take the threats of these financial innovations seriously. A new concept of Securitization Food Chain had emerged which linked loans and investors all over the world. The old phenomenon only involved mortgages between the home buyers and the lenders. But in new system lenders further sell the mortgages to investment banks. These banks combine different mortgages to create derivatives and then these derivatives are converted into Collateralized Debt Obligations and sold to investors. These CDOs are bought as they have high interest rates and they are just a piece of paper. So if the home buyer defaults, the bank that currently holds CDO will face a loss. Another problem was Sub-prime mortgages. Everyone was given a loan without considering its repayment that whether the person is capable of repaying or not. The focus was on commission and profits. The more CDOs they sell the more profit or bonus they receive. As there was no regulatory intermediary so no one cared that this practice was wrong and can be dangerous. Every person asking for loan was treated equally and was given the loan. So basically these were the riskiest loans and investments made. Along with this the rating agencies were paid heavy amounts by investment banks in order to get the CDOs highly rated and this was the main problem actually. Everyone was satisfied that it is highly rated so it is safe. Other banks kept on purchasing these CDOs due to this reason. All this lead to huge mortgages all around and therefore housing prices increased dramatically creating a bubble. According to experts this was not real money it was just being created by the system. Leverage ratios were increasing. It is the ratio of bank’s borrowed money and its own money. As borrowings were far more than their own money that is why leverage ratios were high and asset base was decreasing dramatically. AIG, an insurance company was selling huge amounts of derivatives for CDO owners. It was an insurance policy that if CDO goes wrong AIG will pay the loss to the investors. AIG did this because it was so sure that nothing can go wrong as almost all CDOs are rated AAA and along with this it will get premium from the investors. But AIG’s anticipation was wrong, when all CDOs went bad it faced losses. AIG also involved speculators which resulted in even large losses. People were unable to pay back their loans and therefore the whole system collapsed and so did AIG. Many banks went bankrupted and the entire financial system failed. The main reason was that more and more profits were being earned, at first, with very less risk. All this could never have happened if the rating agencies were honest and transparent. Several warnings were given but no actions were taken. Securitization food chain had imploded and lenders could no longer sell their loans to investment banks. Markets for CDOs collapsed leaving banks with huge loans. Banks and many other large firms were facing bankruptcy and investment industry was sinking fast. Some banks were acquired by other large and stable banks. As there was a financial crisis so taxes were increased. On the other hand, unemployment increased dramatically as recession accelerated globally. Chinese manufacturers saw huge decrease in sales and over ten million people lose their jobs in China. The poorer had to pay the most. Companies went for downsizing, standards of living decreased and poverty increased. This is how the problems arose and lead to a global financial crisis of 2000s. A group of companies that should have been working in peoples’ interest filled their own pockets instead and consequently lead the world to disasters.

Unknown Paper

The objective of these â€Å"unknown† experiments was to take a mixed culture, which contains two unknown species, and identify those species through a series of tests. The group was informed that one species of bacteria would be a gram-negative bacillus and the other would be a gram positive coccus. The tests to be conducted ranged from streak plate isolation to biochemical tests. Each test to be conducted was discussed and agreed upon by all group members. The results of each test were analyzed by the group and led to selection of the next test that would further narrow the possible identity of the unknown species.On September 16, 2010, our group was given a mixed culture in which we were to identify two organisms within the mixture, by running several biochemical tests. On this day our objective was to prepare the specimen of the mixed culture into discrete colonies. Each member of our group then conducted a streak plate and we would later pick the best plate of isolated co lonies. To perform a streak plate, aseptic technique was required. We had our mixed culture in the form of a broth therefore our inoculating instrument would be a loop.We also needed our agar plates each marked into four quadrants and a Bunsen burner. We then proceeded to transfer the mixed culture to the plates aseptically. In preparation for the transfer of the mix culture to a plate we placed the tube of broth in our non-dominant hand. The loop was sterilized by placing it into the fire of the Bunsen burner until the entire wire became red hot, â€Å"red is dead†. The tube was uncapped facing the cap downward along with the inoculated loop in the dominant hand.We then passed the tube through the flame of the Bunsen burner briefly to burn off any contaminates that may be present at the opening of the tube. The inoculated loop was then inserted into the broth of the mixed culture to obtain the organisms to be transferred to the plate. The tube was then passed though the Buns en burner again, capped, and put aside. With the sterilized loop containing the organism we proceeded to transfer the organism to the plate of quadrant I in a zigzag movement. We then re-flamed the loop till red and cooled the instrument to the side of quadrant II.Then from quadrant I we made four lines crossing into quadrant II. We re-flamed the loop till red and then cooled the instrument again to the side of quadrant III. From quadrant II we made four lines crossing into quadrant III. From quadrant III we continued making four more lines crossing into quadrant IV. We inoculated our loop once more, freeing the instrument of any organism by re-flaming till red. Once we each completed a streak plate, the plates where taped and marked with the date, initials, and group number. On September 23, 2010, we obtained our plates made from September 16.We identified discrete colonies into two organisms that we named yellow and beige. The yellow organism was an obvious yellow pigmentation, mo derate in size, entire, circular, raised colony and the beige was an off-white pigmentation, small, entire, circular, umbonate colony. We next chose the best representative colony of each organism to be transfer to a nutrient agar slant. Again we aseptically transferred the organisms, yellow and beige, into individual agar slants. Our instrument that we used was a loop along with two slant tubes and a Bunsen burner.With our selected plate ready and available, the slant in the least dominated hand, we inoculated the loop till red, uncapped the tube, flamed the tubes, obtained the yellow organism from the plate, and transferred it to the slant in a zigzag motion. We then re-flamed the tube, capped the test tube, and flamed the loop. Then we proceeded with the same procedures for the beige organism. The purpose of transferring the organisms was to evaluate the abundance of growth, pigmentation, optical characteristics, form (not applied due to the use of a zigzag rather then a straight line), and consistency.On October 7, 2010 our third day of our Unknown’s project we conducted a Gram stain procedure. From last week’s test, we achieved pure cultural characteristics from the two slants we made. The growth we saw on the agar slant that contained the yellow specimen was a soft, smooth, yellow growth. The growth we saw on the beige specimen was a thin, even, beige growth. Both cultural characteristics were achieved in the appropriate categories. The categories we were looking for contained abundance of growth, pigmentation, optical characteristics, and consistency.Today we will be preparing two bacterial smears from each specimen and Gram staining them. The reason we are conducting this test is to differentiate between two principle groups, gram positive and gram negative and to further know if a pure culture from both organisms was achieved. This is important for classification and differentiation of microorganisms. The Gram stain reaction will help us tell the difference of the chemical composition of bacterial cell walls. The Gram stain procedure uses four different reagents such as crystal violet, gram’s iodine, ethyl alcohol, and safranin.Before the Gram stain is performed we must make two bacterial smears of the two specimens. We placed one loop of distilled water on a clean slide aseptically. He transferred the specimen from the agar slant that contained the yellow growth and placed it on the slide with the water and gently mixed it together in a circular motion approximately the size of a nickel. He let the smear air dry for one minute and gently heat fixed it by quickly passing the slide through the flame 3-5 times with a clothes pin. The same aseptic transfer and Gram stain procedure was performed on the agar slant that contained the beige specimen.After we successfully performed the bacterial smear, we started the Gram Stain procedure. The first step in the Gram stain procedure is flooding the bacterial smear wit h crystal violet and letting it sit for one minute. After the crystal violet has set we rinsed the reagent off with distilled water. Next, we flooded the bacterial smear with Gram’s Iodine for one minute. After we let the Gram’s Iodine set we rinsed the Gram’s Iodine off of the slide gently with distilled water. The next step in the Gram stain procedure contained 95% Ethyl alcohol.Drop by drop we let the alcohol run onto the stain until the color of the stain was almost clear. After this step we rinsed off the alcohol with distilled water once again. The next step in finalizing the Gram stain procedure is counterstaining the smear with safranin for 45 seconds. Once the counterstain has set we rinsed the stain gently one last time with distilled water and used bibulous paper to blot dry the stain. After we completed the Gram stain procedure we looked at both Gram stain’s under a light microscope at 100X with immersion oil. The steps in preparing the light microscope are very simple.First we plugged in the microscope and turned it on, second we made sure the light intensity has been adjusted and the stage is all the way down. Then we placed the slide on the stage and clipped it into place and raised the stage all the way up with the course adjustment knob. We made sure the objective lens is started at 4X also known as the scanning objective. While we were looking through the oculars we slowly lowered the stage until we could see our specimen. It was not clear so with the fine adjustment knob we turned the knob away from us and fine focused the specimen until we could see it much clearer.Then we change the objective lens to 10X and again turned the fine adjustment knob away from us until the specimen became clearer. We remembered to not touch the course adjustment knob once we have moved away from the scanning objective lens or we would lose our specimen. After we saw our specimen clear under 10X, we turned the objective lens to 40X an d turned the fine adjustment knob until we once again saw a clear specimen through the oculars. Once we saw the specimen under 40X we turned the objective lens between 40X and 100X, this is where we used immersion oil only.We did not lower the stage to put oil immersion on the stage or our specimen would be gone. The reason we used oil immersion is so there was way for light to escape through the slide, and the 100X objective lens. It is used as a piece of glass that does not let the light bend and refract, so the image of our specimen is seen even clearer than before. We place two drops of immersion oil on the slide and turned the objective lens all the way to 100X and slid the objective back and forth a couple of times through the oil that way it is covered completely and there were no air bubbles.Using the fine adjustment knob we found our specimen once again and it was clearer than ever. We have found your specimen. Under the microscope the yellow specimen we stained was a purpl e gram positive stain with a tetrad arrangement. The beige organism we Gram stained was a pink gram negative stain with no arrangement. Once we were done with this part of the experiment we decided as a group that the next test we needed to run was the Carbohydrate Fermentation test. The reason for choosing this test was so we would be able to determine if the organism is able to degrade and ferment carbohydrates with the production of acid and gas.After finding our specimens we lowered the stage and took the slide off of the stage a cleaned the 100X oil objective lens with Kym wipes. We turned the objective lens back to 4X, the scanning objective, and turned the microscope off. On October 21, 2010 the Lactose Carbohydrate Fermentation test was previously selected and prepared for the week prior in order to reduce the probability of our organisms. We performed aseptic technique when transferring our unknown organisms which consisted of performing these previously perfected steps to ensure that our tests be inoculated properly.When performing aseptic technique you need to have all the proper materials necessary to ensure the highest level of sterility while maintaining safety. In sequential order these are the steps that we used to perform the sub culturing for our unknowns assignment. In preparation for the transfer, the stock tube and the tube to be inoculated both had caps loosened and properly placed in the non-dominant hand in a V formation separated by the third digit. An inoculating loop was apprehended and sterilized by placing it to the fire until the entire wire became red hot (â€Å"red is dead†).We uncapped the tubes simultaneously with the inoculating loop still in the dominant hand and immediately passed the two tubes through the flame of the Bunsen burner briefly. The inoculating loop then was inserted into the subculture tube and the inoculum was obtained and transferred to the tube that needed to be inoculated. Following the proper inocu lation and removal of the loop from the tube, the necks of both tubes were then again passed through the Bunsen burner, and then the caps were replaced on the proper tube. Lastly the inoculating loop was again flamed to destroy the remaining organisms on the instrument.After successfully transferring the broth culture with the organism to phenol red test tubes with Durham tubes in each, we reviewed our possible results to ensure we understood what was expected. â€Å"Anaerobic use of sugars produces pyruvic acid from glycolysis, and eventually lactic acid or lactic acid and carbon dioxide through the fermentation pathways. † Results after incubation should show negative or positive results. A negative result for sugar fermentation is shown as no color change and no gas in Durham tube. A positive result for carbohydrate fermentation is shown as color changed to yellow indicating acid production.Gas bubble in Durham tube indicates carbon dioxide production. Preparation for Nitr ate reduction test was performed and it consisted of us maintaining our initial broth of our G -unknown. The reason we did the Nitrate reduction test on our Gram – specimen was because according to our chart getting a positive or negative result would eliminate several organisms and would bring us closer to finding out which specimen we had. Some organisms have the ability to reduce NO3- to Nitrite NO2- or N2 or ammonia. ***Javance can you type out the procedure that was done for the Nitrate reduction test right here where this note is.We only did this test in our Gram negative organism. I found out where I made that mistake in my notes. So I fixed it for you. Just type out our transfer from our original broth to the tryptic nitrate broth step by step like you did for our carbohydrate fermentation test*** We added 5 drops of Nitrate A and 5 drops of Nitrate B to our Nitrate broth which contained our G- specimen and also had a Durham tube in it and incubated for one week. On O ctober 28, 2010, after a week has passed of incubation, we reviewed our results from our two previous tests; the Carbohydrate Fermentation and Nitrate reduction test.Carbohydrate fermentation test results were for the yellow G+, no gas bubble was present and the color did not change, it remained red which shows negative fermentation. For beige G-, no gas bubble or color change was seen so it also showed negative fermentation. According to our charts, our G+ specimen was the only one in our chart that had G+ cocci and negative fermentation so our result indicated our first specimen was M. Luteus. Our Nitrate reduction test result was our G- organism turned red which indicated a positive nitrate reduction to nitrite. We then prepared our Gram-negative organism for a Hydrogen Sulfide Test (H2S).We chose the H2S test because we found that it would illuminate our organism into a possibility of either two positive results or three negative results. In the H2S test we used a SIM agar deep test tube as our medium and aseptically transferred our Gram-negative organism from a broth using a needle to stab into the test tube. ***Veda can you type step by step right here the procedure done for the H2S test into the SIM agar deep, not just that we stabbed it***This medium contains peptone and sodium thiosulfate as the sulfur substrate; ferrous sulfate behaves as a H2S indicator and enhances anaerobic respiration.Since Hydrogen sulfide is a colorless and invisible gas, the ferrous ammonium sulfate in the medium combines with the gas producing FeS, which produces a black precipitate. After a week of incubation On November 4, 2010, we observed black precipitate leading to a positive result for H2S gas production, if there was no color change, then that would have indicated a negative result for H2S gas production. With a positive result of our findings, our Gram negative organism concluded a possibility of two organisms of Salmonella typhimurium or Proteus vulgaris.After we an alyzed our findings, we figured the next test that would reveal our organism would be through the Indole Production Test. An Indole Production test also uses a SIM agar deep medium and with the Kovac’s reagent we would get immediate results by adding ten drops of Kovac’s reagent. By adding the Kovac’s regent, a negative result for indole production by giving off a yellow or brown color. A positive result would show if there was a red pigmentation in the reagent layer.With gloves on we added 10 drops of Kovac’s reagent to our specimen and immediately observe a yellow/brown reagent layer, concluding a negative result. We finally discover that our Gram-Negative organism is Salmonella typhimurium. Based on the results of our biochemical tests, our two species of Unknown bacteria were found to be Micrococcus luteus and Salmonella typhumurium. M. Luteus was determined to be our Gram positive organism after a negative result on the Lactose fermentation test.This test ruled out L. lactis and S. aureus. To determine that Salmonella typhimurium was our Gram negative organism we needed to conduct a few more tests. The lactose test yielded a negative result which led us to conduct a Nitrate Reduction test that yielded a positive result. At that point we conducted a Hydrogen Sulfide test and it yielded a positive result and that allowed our group to conduct an Indole test. This finalized our identity for the Gram negative organism Salmonella typhimurium.

Ops 571 Statistical Process Control

Chase, Jacobs and Aquilano pose questions such as, â€Å"How many paint defects are there in the finish of a car? [and] Have we improved our painting process by installing a new sprayer? † These questions are meant to investigate and apply different techniques that we can use to improve the quality of life. Quality control not only applies to manufacturing techniques, it can also be applied to everyday life. This discussion will focus on a specific method of quality control called statistical process control that will ensure my morning process is effective.One method of quality control can be pursued through process control procedures like statistical process control or SPC. SPC â€Å"involves testing a random sample of output from a process to determine whether the process is producing items within a preselected range†. (Chase, Jacobs & Aquilano, 354) SPC is a method that can be applied to a process in order to monitor or control that process. In week one, I described a personal process of waking up in the morning through to going to work.In addition to my process, I presented several bottlenecks that can slow my process down including the ability of my alarm clock working, weather impact on travel time, and availability of gym equipment. In the examples below, I will focus on how alarm failures have affected my morning process. SPC has shown how statistical data can be charted in order to see how my morning process is affected by my bottlenecks and whether or not it is a positive. Goods or services are observed not as variables but as attributes. Attributes are quality characteristics that are classified as either conforming or not conforming to specification. † (Chase, Jacobs & Anquilano, 354) In example one, a sample was taken 10 times over a 30 day period in which alarm failures were observed. In order to create a visual representation of the statistics, we must combine the data from the sample. Once the data is gathered, we can provide a solution to create a control chart. Control charts are used as a â€Å"component of total quality [in order to] monitor processes†. Green, Toms, Stinson, 37) First, we calculate the fraction of defective alarms from the sample in order to gain a total and a centerline for our graph. p = Total number of defects from all samples/Number of samples ? Sample size p = 25/ 10 ? 30 = . 08333 Next, we can calculate the standard deviation. Sp = vp (1 – p)/ n Sp = v . 08333 (1 – . 08333) / 30 = . 05050 Example 1Sample| Number of Days| Days Alarm Failed to Work| Fraction Defective| 1| 30| 2| . 06667| 2| 30| 2| . 06667| 3| 30| 3| . 10000| 4| 30| 3| . 10000| 5| 30| 2| . 06667| 6| 30| 4| . 13333| 7| 30| 3| . 10000| 8| 30| 2| . 06667| 9| 30| 2| . 6667| 10| 30| 2| . 06667| Total| 300| 25| . 08333| Sample Standard Deviation| . 05050| | | Finally, the control limits are used to measure attributes with a single decision of yes or no, good or bad, and positive or negative. This s imple decision can be translated into a graph with upper and lower control limits. If the sample is plotted and stays in between the limits, then the sample is considered good or working properly. â€Å"Should a sample mean or proportion fall outside the control limits or a series of mean or proportions exhibit a non-random pattern the process is deemed out-of-control. (Green, Toms, Stinson, 37) In order to turn the chart into a graph, we will need to calculate the upper control limits (UCL), the lower control limits (LCL) and z. â€Å"†¦z is the number of standard deviations for a specific confidence†. In this example, we will use the †z-value of 3 in order to represent a 99. 7% confidence† (Chase, Jacobs, & Anquilano, 356). This means that when that the confidence interval â€Å"falls outside the control limits, there is a 99. 7% chance that there is something wrong with the process that must be corrected†. Green, Toms, Stinson, 37) Though not perfe ct, a confidence of 99. 7% is useful. The SPC must also take into consideration the number of data points as well. The more data that is available the stronger your confidence intervals are. UCL = p + z Sp UCL = p + 3Sp UCL = . 08333 + 3(. 05050) = . 23483 LCL = p – z Sp LCL = p – 3Sp LCL = . 08333 ? 3(. 05050) = -. 06817 In the control chart, the data from the sample stays in between the controls. This means that my process in the morning is working properly and is effective.Now, it is important to look to the future trends in order to predict seasonal factors. â€Å"A seasonal factor is the amount of correction needed in a time series to adjust for the season of the year. † (Chase, Jacobs & Anquilano, 533) Seasonal factors may affect the samples by taking into consideration factor based on seasons or time periods. The alarm clock that is used to wake me up in the morning is not dependent on any factors of time or season. Statistical process control is one way to control quality and make sure goals are attained.Statistical methods show that the samples taken can create visual representations that conclude my alarm clock is an effective method to starting my morning process. This ensures that it is operating at its fullest potential. REFERENCES Chase, R. B. , Jacobs, F. R. , Aquilano, N. J. Operations management for competitive advantage (11th ed). New York: McGraw Hill/Irwin. Green Jr. K, Toms L, Stinson T. STATISTICAL PROCESS CONTROL APPLIED WITHIN AN EDUCATION SERVICES ENVIRONMENT. Academy Of Educational Leadership Journal [serial online]. June 2012;16 (2):33-46.

Sift cupcake and dessert bar Essay Example | Topics and Well Written Essays - 2250 words

Sift cupcake and dessert bar - Essay Example Since its inception, a few members of staff have been on board and they include Corey Fanfa who joined the Sift team after quitting her career. She spent most of her childhood with Andrea, the baking business was not new to her either, and she quite enjoyed it. Sift has been enlisted on several Food networks including the cupcake wars where Andrea and Corey entered. This gave Sift the much edge that they needed and helped improve the skills of the business and learn what they needed to do to make the better cup cakes. For Sift, the business is just not a business but a passion for them as they are engaged in an activity that they love and are a passionate about. Sift has a wide market being in a college town and ensuring that the customer is satisfied with the product has seen the business grow in leaps and bounds to where it is today. Evaluation and Strategy Andrea, Her Husband, Jeff and Corey are the managers of the business and the key decision makers and they feel that is about t ime that the business expanded and became the premier cupcake business of choice in the Bay area of San Francisco. Cupcakes are an extremely popular product in the United States base on the fact that they are cheap and also very sweet and yummy. They are also easily accessible and when well made, they give the client a satisfying feel. The product was made popular by the movie Sex and the City and has since then grown to the extent of having a food channel Cup Cake Wars, which Sift occasionally, display their product offerings. The main problem facing the goal that Sift wants to achieve is their line of Credit. They needed to hire more staff that will help the business to rapidly expand and become the premier cup cake shop. The current line of credit that they have in the bank cannot be used as it will hamper the efforts that they have of seeking the small business loans which they badly need to ensure that they become the premier cupcake shop in san Francisco. To be able to achieve these goals, Sift needs to clearly map its goals and objectives as well as know what it wants to achieve as of now. What is important to them as of now is to acquire the capital through the loan and hence expand to become the premier cup cake shop. However, their efforts can be hampered by the lack of expertise as the three of them cannot quite manage to handle the bigger business and they will require more skills and competencies to be able to meander through it. The business has several factors working for them against those working against them. Firstly, there is a huge demand for cupcakes in the market. This means that in spite of the harsh times, there will always be demand for the cakes. The cost is relatively cheap which means the consumers can afford the product. The size of the cupcakes is small and hence not a big indulgence especially with everyone being weary of their health. The product is viewed as a snack for getting the much needed sugar fix as people watch what the y are eating. The other success factor for the business is a market niche, which is already established. The business has a huge customer base in women who are high-income earners and are sure of what product they are looking for and what product they want. There is also a presence of a huge market online for the business. Sift has been able to grow to a large business since its

Money judgment Assignment Example | Topics and Well Written Essays - 1000 words

Money judgment - Assignment Example Unless you make a will, your favourite persons may fall in problem when you will be no more in the world because the laws of intestacy suggests that your estate will not automat-you to realize easily what's the result of not making a will. Before making a will you need to be sure of the total sum of the property you have and you would like to distribute. Furthermore, you also have to know the fact among whom persons you can distribute the property by making a will. I think it's better for you to make a reciprocal will so that you and Jennifer can mirror each other in that case when one of you will die the property will go to the survivor and then to your children. There are certain elements what make a will legal. -"You should never attach anything to your Will by way of a paper clip, pin or otherwise or in any way leave any mark on it. Such marks can cause great difficulty when it comes to prove your Will in the probate registry. -You should have an idea about the tax liability on your death as many married people are quite unaware of the potential tax bill they leave to their family on the death of the second partner" (Life Insurance.com.uk., n.d.). In spite of achieving cherished effect it contains mentionable draw back from inheritance tax system, because the liability goes to inheritance tax that's why in the time of next death of the survivor, this tax will go to your join property. It has been decided in the tax year of 2006/2007 inheritance tax is not necessary to pay between the spouse. "Transfer between spouses is generally free of inheritance tax. If an individual simply leaves all their estate to their surviving spouse then the nil-rate band is effectively wasted" (Deloitte, 2007). When (Mr. Hoames) you will die having made no chargeable transfers when your survivors will not be benefited by this nil-rate band. If you leave your enter estate to Mrs Jennifer and she will set 312000 of nil rate band against her inheritance tax estate. However, this tax liability may go to the others (such as your relatives) if the total value of the property exceeds 285,00 (2006-2007). And excess value above the nil rate band up to 312000 (2008-2009) is liable to inheritance tax at 40%. This figure is called "nil rate band" HM revenue and customs: rates and allowances (HMRC (HM Revenue & Customs). (n.d.). "Alternatively, it may be possible to pass on some of the assets on first death but enable your spouse to still have financial security after your death by using your will trust" (Money Minder, 2005). You can use the nil rate band by making an effective will and in this way you can save 114,000 and control your own inheritance tax planning. I hope, you

Aristotle,nz Essay Example | Topics and Well Written Essays - 1000 words

Aristotle,nz - Essay Example The procedure of realizing excellence of character calls for individuals to develop a steadiness of character by adopting virtuous pursuits and shunning vice. Aristotle stressed the ethical as well as normative effect of virtuous regulations would contribute towards assisting or directing human beings in the pursuit of good. Thesis Statement: From Aristotle’s treatise, all human beings have the capability of acquiring the excellence of character and thought through the constant practice of constructive behaviors such as temperance and duty. Aristotle also wrote about the excellence of thought- or intellectual excellence. He specified that common sense as well as practical wisdom could also be considered as being a kind of excellence of thought. From his writings, it is evident that Aristotle believed that the combination of these two types of excellences is what would be the redeeming factor of the human race. The concepts on the excellence of thought and character tie into Aristotle’s ideas on temperance and intemperance. According to Aristotle, the acquisition of temperance is important because it brings a balance between the excesses that are easily embraced by the untamed human soul and the insensibility that characterizes extreme asceticism. This is directly related to the portrayal of temperance in any challenging situation. For instance, an individual who was practicing temperance would find a balance in the expression of his or her emotions. In a situation where there was a significant threat, the temperate individual’s expressions of fear would not be more or less that the situation called for. However, an intemperate person would either express extreme stoicism or extreme fear that did not correspond to the danger of existing threat. Essentially, the possession of temperance in a human being is what will keep the soul’s need to yearn for different things in harmony with common sense

Measures a Business Takes During a Disaster Assignment

Measures a Business Takes During a Disaster - Assignment Example Federal assistance from the fire department and police department came to assist after being contacted together with the locals’ and nearby hospital personnel. A series of actionable items on the plant was given to know the way forward and the business continuity plan that would make certain that the business gets back on its fit once the emergency plans prove to be successful. As the Safety Operations Director, the recommendation I would make to the Chief Executive Officer of the manufacturing plant and warehouse is to appoint a temporary disaster management executive committee which will be involved with the safety of the employees and the company’s data stored in computers as these are the company’s priorities. The steps to be taken when beginning recovery efforts by this committee include (1) ensuring the safety of employees by taking a roll call to account for everyone so that none is left unattended, (2) ensuring the safety of the company’s data in computers by backing them in external hard disks and sending them to personal emails, (3) contacting the families of the injured ones to inform them of the situation, (4) assessing the damaged assets, the ones at risk and the resources left, (5) relocating company tracks and employees to safe locations (6) reducing financial loss and (7) rushing the injured to nearby hospitals for treat ment. All these steps are to be conducted by the disaster management executive committee, chairpersons, coordinators and departments/ branch leaders, drawn from the institution’s available personnel resources that are to provide effective leadership and administration of the institution’s recovery effort, making decisions and giving directions. It is the duty of these people to restore the entire organization’s ability to operate and re-open its components testing and revising the process upon results, resuming and replacing damaged equipment, saving lives, contacting the family of the workers and maintaining law and order for possible looting.  Ã‚