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The Role Of Trade Union History Essay

Trade unions are unique organisations whose role is variously interpreted and understood by different interest groups in the society. Traditionally trade unions role has been to protect jobs and real earnings, secure better conditions of work and life and fight against exploitation and arbitrariness to ensure fairness and equity in employment contexts. In the wake of a long history of union movement and accumulated benefits under collective agreements, a plethora of legislations and industrial jurisprudence, growing literacy and awareness among the employees and the spread of a variety of social institutions including consumer and public interest groups the protective role must have undergone, a qualitative change. It can be said that the protective role of trade unions remains in form, but varies in substance. There is a considerable debate on the purposes and role of trade unions. The predominant view, however, is that the concerns of trade unions extend beyond ‘bread and butter’ issues. Trade unions through industrial action (such as protests and strikes) and political action (influencing Government policy) establish minimum economic and legal conditions and restrain abuse of labour wherever the labour is organised. Trade unions are also seen as moral institutions, which will uplift the weak and downtrodden and render them the place, the dignity and justice they deserve. The State of Trade Unions in the World. Public opinion is hostile to trade unions in most countries. The public is not against unionism in principle. It is against the way unions and union leaders function. The public image of union leaders is that they are autocratic, corrupt and indifferent to the public interest ‘Too much power, too little morality’ sums up the publics’ assessment of unions There have been many opinion surveys especially in the United States, which bring out the poor public image of trade unions. In surveys which rank the confidence of the American public in fourteen institutions (as for example the army, church, supreme court, stock market, legal profession, industrialists, newspapers etc.) trade unions have been consistently placed at the bottom of the list. There is a serious decline in union membership in most industrialized nations. There are two possible ways of looking at union membership figures. The first method is to simply add up all union members in a factory, office or country. This gives overall membership position. In the second method, the density of membership is calculated. Density is the percentage of union members in relation to total employment, for example, if unions have 50 members in a factory employing 100, the density is 50 percent. When the reference is to entire country, density is measured by comparing union members against total employment in all sectors. Density is generally accepted as a better indicator because it shows not only how many are members but also how many are not. Membership has dropped sharply in many European countries. In France, which is the worst hit, the density of union membership is now estimated to be a miserable 10 percent. In Holland, which is also badly affected, density is estimated at around 25 percent. In England the density of union membership is 44 percent. The picture is not very different outside Europe. In the United States, density has dropped to 16 percent. In Japan, it has dropped to 25 percent. In India, union density has been of a very low order i.e., 10 percent. There are, however, some exceptions to this depressing trend. Trade union density in Sweden, the highest in the world, stands at an extremely impressive 91 percent the working population. Trade unions in Sweden are most respected. They seek social, political and economic democracy. They participate at all levels of decision-making, national and local, and share in the administration of laws. The density in Denmark is 82 percent, and in Norway 63 percent, both very high by world standards. Trade Unions in India The trade union movement in India is over a century old. It is useful to take stock to see whether the trade unions in India are at the centre stage or in periphery. In order to do that, one may peruse the following relevant, though selective, statistics. The Indian workforce 31.479 Crore (314.79 million) constitutes 37.3 percent of the total population. Of the total workforce, 91.5 percent is accounted for by the informal sector, while the formal sector accounts for 8.5 percent. Further, only abut 3 Crore (30 million) (i.e. 9.5 percent of the workforce) are employed on permanent basis, implying 90.5 percent being employed on casual basis. It has also been reported that by December 1991, the claimed membership of the Indian trade union movement was 3.05 Crore (30.5 million) (i.e. 9.68 percent of the workforce) with 82.24 percent of the trade union membership being accounted for by the organised sector. Thus the unorganised sector is meagrely represented. The World Labour Report summarises the trade union situation in India “Indian unions are too very fragmented. In many work places several trade unions compete for the loyalty of the same body of workers and their rivalry is usually bitter and sometimes violent. It is difficult to say how many trade unions operate at the national level since many are not affiliated to any all- India federation. The early splits in Indian trade unionism tended to be on ideological grounds each linked to a particular political party. Much of the recent fragmentation, however, has centered on personalities and occasionally on caste or regional considerations.” Apart from the low membership coverage and fragmentation of the trade unions, several studies point to a decline in membership, growing alienation between trade unions and membership particularly due to changing characteristics of the new workforce and waning influence of national federations over the enterprise unions. New pattern of unionisation points to a shift from organising workers in a region or industry to the emergence of independent unions at the enterprise level whose obsession is with enterprise level concerns with no forum to link them with national federations that could secure for them a voice at national policy making levels. Several studies also point to a shift in employment from the organised to the unorganised sector through subcontracting and emergence of a typical employment practice where those work for the organisation do not have employment relationship, but a contractual relationship. Unfortunately trade unionism in India suffers from a variety of problems such as politicisation of the unions, multiplicity of unions, inter-union rivalry, uneconomic size, financial debility and dependence on outside leadership. Bharatiya Mazdoor Sangh The Bharatiya Mazdoor Sangh (BMS) is the largest Central Trade Union Organisation. The learned economist and visionary, Mananiya Dattopantji Thengdi who has dedicated his life to the service of the society, along with some like minded nationalists, founded it on auspicious Lokmanya Tilak Jayanti 23 July 1955. Starting from zero in 1955, BMS is now a well-knit organisation in all the states and in private and public sector undertakings. Several organisations of the State and Central government employees are also affiliated to the BMS. The Sangh also enjoys the premier position in several industries. At present it has over 5,680 affiliated unions with a membership of more than 76.39 lakhs (7.639 million). Although not affiliated to any International Trade Union Confederation, BMS has relations with Central Labour Organisations of other countries. BMS representatives are taking part in the ILO sessions at Geneva for the past 25 years. Objectives Bharatiya Culture forms the ideological basis of Bharatiya Mazdoor Sangh. Approach of culture is essentially subjective. The character of its contribution to the peace, progress and prosperity of humanity is, therefore, basic and fundamental. It fulfils its mission through various individuals and institutions arising in different times and climes. BMS is one of the instruments of Culture fighting against the mutually hostile but equally anti-human Capitalism and Marxism, with the ultimate goal of establishing Bharatiya Social Order based upon the tenets of Ekatma Manavavad (Integral Humanism). It would be wrong to presume that labour problems are related to one section of population only. Such an exclusive view would be very unrealistic. Deterioration of working and living conditions of labour cannot be a sectional problem of labour alone; it is a malady adversely affecting the health of the entire social organism. Labour has always been regarded as the very foundation of the Bharatiya social structure. It is an integral and vital part of society. The character of its problems, therefore, is not sectional but national. To protect and promote its interests-which are by the very nature of things, not only compatible but invariably identical with those of the nation as a whole-is, therefore, the natural responsibility of the entire nation. BMS is pledged to fulfil this fundamental national duty towards labour. With a view to achieving national prosperity and eradicating poverty, BMS is pledged to ‘Maximum Production and Equitable Distribution’. This spirit is reflected in the ancient Bharatiya idea: Shata Hasta Samahar, Sahsra Hasta Sankir’ (with a hundred hands produce; with a thousand hands, distribute.) Prosperity is not possible without increased Production. But we must also ensure equitable distribution so that all people have the urge to produce and share the fruits of prosperity. BMS declared its belief in the concept of God as the sole moral proprietor of all wealth. GROWTH OF TRADE UNION MOVEMENT IN INDIA The First Strike The origin of the movement can be traced to sporadic labour unrest dating back to 1877 when the workers at the Empress mills at Nagpur struck following a wage cut. In 1884, 5000 Bombay Textile Workers submitted a petition demanding regular payment of wages, a weekly holiday, and a mid-day recess of thirty minutes. It is estimated that there were 25 strikes between 1882 and 1890. These strikes were poorly organised and short lived and inevitably ended in failure. The oppression by employers was so severe that workers preferred to quit their jobs rather than go on strike. Ironically, it was to promote the interests of British industry that the conditions of workers were improved. Concerned about low labour costs, which gave an unfair advantage to Indian factory made goods, the Lancashire and Manchester Chambers of Commerce agitated for an inquiry into the conditions of Indian Workers. The First Factories Act In 1875, the first committee appointed to inquire into the conditions of factory work favoured legal restriction in the form of factory laws. The first Factories Act was adopted in 1881. The Factory Commission was appointed in 1885. The researcher takes only one instance, the statement of a witness to the same commission on the ginning and processing factories of Khandesh: “The same set of hands, men and women, worked continuously day and night for eight consecutive days. Those who went away for the night returned at three in the morning to make sure of being in time when the doors opened at 4 a.m., and for 18 hours’ work, from 4 a.m. to 10 p.m., three or four annas was the wage. When the hands are absolutely tired out new hands are entertained. Those working these excessive hours frequently died.” There was another Factories Act in 1891, and a Royal Commission on Labour was appointed in 1892. Restrictions on hours of work and on the employment of women were the chief gains of these investigations and legislation. The First Workers’ Organisation in India Quite a large amount of pioneering work was done with remarkable perseverance by some eminent individuals notably by Narayan Lokhande who can be treated as the Father, of India’s Modern Trade Union Movement.4 The Bombay Millhands’ Association formed in 1890 under the leadership of Narayan Lokhande was the first workers’ organisation in India. Essentially a welfare organisation to advance workers’ interests, the Association had no members, rules and regulations or funds. Soon a number of other organisations of a similar nature came up, the chief among them being the Kamgar Hitvardhak Sabha and Social Service League. Organisations, which may more properly be called trade unions, came into existence at the turn of the century, notable among them being the Amalgamated Society of Railway Servants of India and Burma, Unions of Printers in Calcutta. The first systematic attempt to form a trade union on permanent basis was done in 1906 in the Postal Offices at Bombay and Calcutta.5 By the early years of the 20th century, strikes had become quite common in all major industries. Even at this time. There were visible links between nationalist politics and labour movement. In 1908, mill workers in Bombay went on strike for a week to protest against the conviction of the nationalist leader Bal Gangadhar Tilak on charges of sedition. There was also an outcry against the indenture system by which labour was recruited for the plantations, leading to the abolition of the system in 1922. Madras Labour Union The Madras Labour Union was founded in 1918. Although it was primarily, an association of textile workers in the European owned Buckingham and Carnatic Mills, it also included workers in many other trades. Thiru Vi. Ka. and B. P. Wadia the nationalist leaders founded the Union. The monthly membership fee of the union was one anna. The major grievances of workers at this time were the harsh treatment meted out to Indian labour by the British supervisors, and the unduly short mid-day recess. The union managed to obtain an extension of the recess from thirty p forty minutes. It also opened a cheap grain shop and library for its members and started some welfare activities. There was a major confrontation between the union and the management over the demand for a wage increase, which eventually led to a strike and lockout. The management filed a civil suit in the Madras High Court claiming that Wadia pay damages for inciting workers to breach their contract. As there was no legislation at this time to protect the trade union, the court ruled that the Madras Labour Union was an illegal conspiracy to hurt trading interests. An injunction was granted restraining the activities of the union. The suit was ultimately withdrawn as a result of a compromise whereby all victimised workers, with the exception of thirteen strike leaders, were reinstated and Wadia and other outside leaders severed their link with the union.6 Against this background N.M. Joshi introduced a bill for the rights of a Trade Union. But the then member for Industries, Commerce and Labour himself promised to bring legislation in the matter and the Trade Union Act of 1926 was enacted. By this time many active trade union leaders notably N. M. Joshi, Zabwalla, Solicitor Jinwalla, S. C. Joshi, V. G. Dalvi and Dr. Baptista, came on the scene and strong unions were organised specially in Port Trust, Dock staff, Bank employees (especially Imperial Bank and currency office), Customs, Income-Tax, Ministerial staff etc. Textile Labour Association About the same time as the Madras Labour Union was being organised, Anusuyaben Sarabhai had begun doing social work among mill workers in Ahmedabad, an activity which was eventually to lead to the founding of the famous Mazdoor Mahajan -Textile Labour Association, in 1920. Gandhi declared that the Textile Labour Association, Ahmedabad, was his laboratory for experimenting with his ideas on industrial relations and a model labour union. He was duly satisfied with the success of the experiment and advised other trade unions to emulate it.7 There were a number of reasons for the spurt in unions in the twenties. Prices had soared following World War I, and wages had not kept pace with inflation. The other major factor was the growth of the nationalist Home Rule Movement following the war, which nurtured the labour movement as part of its nationalist effort. At this time the workers had no conception of a trade union and needed the guidance of outside leaders. The outsiders were of many kinds. Some were philanthropists and social workers (who were politicians). They saw in labour a potential base for their political organisation. The politicians were of many persuasions including socialists, Gandhians who emphasized social work and the voluntary settlement of disputes, and communists. Formation of AITUC The year 1920 also marked the formation of the All India Trade Union Congress (AITUC). The main body of labour legislation and paradoxically enough even the formation of the AITUC owes virtually to the activities of the International Labour Organization (ILO). It was considered that the origin of the First World War was in the disparities between the developed and undeveloped countries. As a result the treaty of Versailles established two bodies to cure this ill viz., the League of Nations and the ILO. India was recognized as a founder member of the latter. This is a tripartite body on which each member state nominates its representatives. For the foundational conference of ILO held in 1919 the Government of India nominated N. M. Joshi as the labour member in consultation with the Social Service League, which was then making the greatest contribution for the cause of workers. The ILO has a very exercising machinery to see that various Governments take some actions on its conventions and recommendations. All labour legislations in India owe a debt to these conventions and recommendations of ILO. The formation of India’s first Central Labour Organisation was also wholly with a view to satisfy the credentials committee of ILO. It required that the labour member nominated by Government be in consultation with the most representative organisation of country’s labour. The AITUC came into existence in 1920 with the principal reason to decide the labour representative for lLO’s first annual conference. Thus the real fillip to the Trade union movement in India both in matters of legislation and formation of Central Labour Organisation came from an international body, viz., ILO and the Government’s commitment to that body. Dependence on international political institution has thus been a birth malady of Indian Trade Union Movement and unfortunately it is not yet free from these defects. The AITUC claimed 64 affiliated unions with a membership of 1,40,854 in 1920 Lala Lajpat Rai, the president of the Indian National Congress became the first president of AITUC. In 1924 there were 167 Trade unions with a quarter million members in India. The Indian factories Act of 1922 enforced a ten-hour day. Trade Unions Act The Indian Trade Unions Act 1926 made it legal for any seven workers to combine in a Trade Union. It also removed the pursuit of legitimate trade union activity from the purview of civil and criminal proceedings. This is still the basic law governing trade unions in the country. Ideological Dissension Ideological dissension in the labour movement began within few years of the AITUC coming into being. There were three distinct ideological groups in the trade union organisation: communists led by Shri M. N. Roy and Shri Shripad Amrut Dange, nationalists led by Shri Gandhiji and Pandit Nehru, and moderates led by Shri N. M. Joshi and Shri V. V. Giri. There were serious differences between these three groups on such major issues as affiliation to international bodies, the attitude to be adopted towards British rule and the nature of the relationship between trade unions and the broader political movement. The communists wanted to affiliate the AITUC to such leftist international organisations as the League against Imperialism and the Pan-Pacific Trade Union Secretariat. The moderates wanted affiliation with the BLO and the International Federation of Trade Unions based in Amsterdam, The nationalists argued that affiliation with the latter organisations would amount 10 the acceptance of perpetual dominion status for the country under British hegemony. Similarly, the three groups saw the purpose of the labour movement from entirely different points of view. The party ideology was supreme to the communists, who saw the unions only as instruments for furthering this ideology. For the nationalists, independence was the ultimate goal and they expected the trade unions to make this their priority as well. The moderates, unlike the first two, were trade unionists at heart. They wanted to pursue trade unionism in its own right and not subjugate it completely to broader political aims and interests. Formation of NTUF From the mid-twenties of the present century onwards the communists launched a major offensive to capture the AITUC. A part of their strategy was to start rival unions in opposition to those dominated by the nationalists. By 1928 they had become powerful enough to sponsor their own candidate for election to the office of the President of the AITUC in opposition to the nationalist candidate Nehru. Nehru managed to win the election by a narrow margin. In the 1929 session of the AITUC chaired by Nehru the communists mustered enough support to carry a resolution affiliating the federation to international communist forum. This resolution sparked the first split in the labour movement. The moderates, who were deeply opposed to the affiliation of the AITUC with the League against Imperialism and the Pan – Pacific Secretariat, walked out of the federation and eventually formed the National Trade Union Federation (NTUF). Within two years of this event the movement suffered a further split. On finding themselves a minority in the AITUC, the communists walked out of it in 1931 to form the Red Trade Union Congress. The dissociation of the communists from the AITUC was, however, short-lived. They returned to the AITUC the moment the British banned the Red Trade Union Congress. The British were the most favourably disposed toward the moderate NTUF. N.M. Joshi, the moderate leader, was appointed a member of the Royal Commission. The splintering away of the NTUF had cost the AITUC thirty affiliated unions with close on a hundred thousand members. However, the departure of the communists had not made much difference. In any case, the Red Trade Union Congress quickly fell apart, and the communists returned to the AITUC. During the next few years, there was reconciliation between the AITUC and NTUF as well. The realisation dawned that the split had occurred on issues such as affiliation with international organisations, which were of no concern to the ordinary worker. By 1940 the NTUF had dissolved itself completely and merged with the AITUC. It was agreed that the AITUC would not affiliate itself with any international organisation, and further, that political questions would be decided only on the basis of a two-thirds majority. On the whole the thirties were a depressing period for Indian labour. There were widespread attempts to introduce rationalisation schemes and to effect wage cuts. The wartime inflation also took its toll. While the militant elements on the labour movement fought for the redressal of workers grievances, the movement itself was steeped in political dissent. The popular governments voted to power in the 1937 elections did not measure up to the workers’ expectations although prominent labour leaders such as Shri Nanda and Shri Giri had taken over as labour ministers. They did pass some useful legislations, however a major piece of legislation was the Bombay Industrial Disputes Act of 1938, which attempted to eliminate inter union rivalries by introducing a system recognising the dominant union. Formation of Indian Federation of Labour In 1939, when the British unilaterally involved India in World War II, there was another wave of schisms in the labour movement. Congress governments voted to power in the 1937 elections resigned in protest against the country’s involvement in an alien war, and the nationalists in the AITUC were naturally opposed to the war effort. But Roy and his supporters stood by the British. They founded a rival labour movement in 1941 called the Indian Federation of Labour (IFL). Initially the communists opposed the war effort and British had in fact jailed most of their leaders. But there was a dramatic volt face in their position in 1942 when Soviet Russia joined the Allies. In the same year the nationalists launched the Quit India movement under Gandhis leadership. The British reacted to these developments by emptying the jails of communists and filling them up with nationalists. With the nationalists in jail, the AITUC was ripe for capture by the communists, and they made the most of the opportunity. By the end of the war there were four distinct groups of trade unionists, two in jail and two out of it Among the nationalists who were in jail there had existed/for some time a pressure group called the congress socialists. The two groups outside jail were the Roy faction and communists who had in common their support for the British war effort, but had maintained their separate identities. The stage was set for a formal division of the labour movement, which would reflect the ideological differences. At this juncture, the Government of India became quite active on the labour front and Dr. B. R. Ambedkar, the then Labour Member of the Executive Council to Viceroy with the assistance of S.C. Joshi was engaged and exercised to take action on all the recommendations of the Royal Commission on Labour. At their instance a fact-finding committee was appointed to study the then existing situation. During the period 1945-47 most of the present labour legislations were drafted and the conciliation and other machinery were also well conceived. In 1947 when the National Government was formed Shri S. C. Joshi. The then Chief Labour Commissioner, was entrusted with the work of implementing the various provisions of labour law. The whole of the present set up owes a debt to the work that was done by him and Shri V. V. Giri, the former president of India. Formation of INTUC, HMS and UTUC With the formation of National Government Sardar Vallbhbhai Patel advocated very strongly the cause of forming a new central organisation of labour. It was his view that the National Government must have the support of organised labour and for this purpose the AITUC cannot be relied upon since it was thriving on foreign support and used to change its colours according to the will of its foreign masters So, on 3rd may 1947, the Indian National Trade Union Congress (INTUC) was formed. The number of unions represented in the inaugural meet was around 200 with a total membership of over 5,75,000.n There was now no doubt that the AITUC was the labour organisation of the communists, and the INTUC the labour organisation of the congress This was further confirmed when the congress socialists, who had stayed behind in the AITUC, decided to walk out in 1948 and form the Hind Mazdoor Panchayat (HMP). The socialists hoped to draw into their fold all non-congress and non-communist trade unionists. This hope was partly realised when the Roy faction IFL merged with the HMP to form the Hind Mazdoor Sabha (HMS). However, the inaugural session of the HMS witnessed yet another split in the labour movement. Revolutionary socialists and other non-communist Marxist groups from West Bengal under the leadership of Shri Mrinal Kanti Bose alleged that the HMS was dominated by socialists and decided to form the United Trade Union Congress (UTUC). The UTUC is formally committed to the pursuit of a classless society and non-political unionism. In practice, however, many of its members are supporters of the Revolutionary Socialist Party. By the fifties the fragmentation of the labour movement on political lines had become a permanent fact. Disunity was costing the labour movement dearly. There were periodic attempts at unity, but nothing much came of them. The INTUC was firmly opposed to any alliance with the communists. The HMS was willing to consider a broad-based unity that would include all groups, but not for any arrangement with the AITUC alone. The major stumbling block to unity was the bitter experience to other groups had with the communists in the thirties. Even in specific industries such as railways where a merger between rival groups did take place, unity was short-lived All that could be achieved between rival trade unions were purely local ad-hoc arrangements. Formation of BMS Before the rise of Bharatiya Mazdoor Sangh the labour field was dominated by political unionism. The recognised Central Labour Organisations were the wings of different political parties or groups. This often made workers the pawns in the power-game of different parties. The conscientious workers were awaiting the advent of a national cadre, based upon genuine trade unionism, i.e. an Organisation of the workers/ for the workers, and by the workers. They were equally opposed to political unionism as well as sheer economism i.e. “bread butter unionism”. They were votaries of Rashtraneetee or Lokaneetee. They sought protection and promotion of workers’ interests within the framework of national interests, since they were convinced that there was no incompatibility between the two. They considered society as the third-and more important-party to all industrial relations, and the consumers’ interest as the nearest economic equivalent to national interest. Some of them met at Bhopal on 23 July 1955 (the Tilak Jayanti Day) and announced the formation of a new NATIONAL TRADE UNION CENTER, BHARATIYA MAZDOOR SANGH. During the All India Conference at Dhanbad in 1994, BMS has given the clarion call to all its Karyakartas to be prepared to face the THIRD WORLD WAR AND SECOND WAR OF ECONOMIC INDEPENDENCE unleashed by the developed countries against the developing countries. The emissaries of the developed countries are the multinational companies who look up to India as a ideal market to sell their outdated consumer products

FIN 307 Grantham University Principles of finance Essay

FIN 307 Grantham University Principles of finance Essay.

The first five questions refer to the following scenario regarding Ken Allen at Bally Gears.
Ken Allen, capital budgeting analyst for Bally Gears, Inc., has been asked to evaluate a proposal. The manager of the automotive division believes that replacing the robotics used on the heavy truck gear line will produce total benefits of $560,000 (in today’s dollars) over the next 5 years. The existing robotics would produce benefits of $400,000 (also in today’s dollars) over that same time period. An initial cash investment of $220,000 would be required to install the new equipment. The manager estimates that the existing robotics can be sold for $70,000.
Show how Ken will apply marginal cost-benefit analysis techniques to determine the following:
1.The marginal (added) benefits of the proposed new robotics is $______________
2.The marginal (added) cost of the proposed new robotics is $__________________
3.The net benefit of the proposed new robotics is $______________________
4.Ken Allen should recommend that the company: (Select the best answer below) not replace the existing robotics because the net profit is positive
b.replace the existing robotics because the net profit is positive
5.Other factors that should be considered before the final decision is made are: (Choose all that apply)
a.What will the energy consumption of the new robotics.
b.Make sure sunk costs are included.
c.Whether even better robotics may be available in a short while
d.Whether there will be additional training necessary with the new robotics
6.ESSAY QUESTION:  What does it mean to say that managers should maximize shareholder wealth “subject to ethical constraints”? What ethical considerations might enter into decisions that result in cash flow and stock price effects that are less than they might otherwise have been?
7.ESSAY QUESTION:  The Securities Exchange Act of 1934 limits, but does not prohibit, corporate insiders from trading in their own firm’s shares. What ethical issues might arise when a corporate insider wants to buy or sell shares in the firm where he or she works?
8.ESSAY QUESTION: Do some reading in periodicals and/or on the Internet to find out more about the Sarbanes-Oxley Act’s provisions for companies. Select one of those provisions, and indicate why you think financial statements will be more trust-worthy if company financial executives implement this provision of SOX.
9.ESSAY QUESTION: The SEC is trying to get companies to notify the investment community more quickly when a “material change” will affect their forthcoming financial results. In what sense might a financial manager be seen as “more ethical” if he or she follows this directive and issues a press release indicating that sales will not be as high as previously anticipated?
10.ESSAY QUESTION: A manager at a “Check Into Cash” business (see Focus on Ethics box on page 192) defends his business practice as simply “charging what the market will bear.” “After all,” says the manager, “we don’t force people to come in the door.” How would you respond to this ethical defense of the payday-advance business?
11.ESSAY QUESTION: Bond rating agencies have invested significant sums of money in an effort to determine which quantitative and nonquantitative factors best predict bond defaults. Furthermore, some of the raters invest time and money to meet privately with corporate personnel to get nonpublic information that is used in assigning the issue’s bond rating. To recoup those costs, some bond rating agencies have tied their ratings to the purchase of additional services. Do you believe that this is an acceptable practice? Defend your position.
The next three questions refer to this news item:
Satellite-radio firm Sirius XM posted earnings and showed some signs of improvement over last year. The company expanded its subscriber base following recession driven subscriber losses in the past year. Revenues were up to a record $629.6 million and losses narrowed to $181.9 million from $217 million the previous year.
Investors perceived the news to be positive and pushed stock prices up by about five percent to 64 cents a share. Analysts believe the company’s growth will slow significantly in the future but for the moment is driven by the sales of new cars that come equipped with satellite-radio service. The general consensus is that Sirius will have to become more efficient and slash costs to become profitable. In the meantime, the company continues to pursue subscribers via channels like the new Apple iPhone application released last week.
Source: Kharif, Olga, “Sirius XM: The Good and Bad Earnings News,” Business Week,,, posted 11/05/2009.
12.What should be the primary goal of Sirius XM management?
a.generate efficiency.
b.maximize profits.
c.minimize costs.
d.maximize stock price.
13.Stock prices responding instantly to the release of new information illustrate which of the following concepts?
a.investor acumen.
b.profitability. efficiency.
d.none of the above.
14.Which of the following is not a form of the efficient markets hypothesis
a.semi-strong form.
b.weak form.
c.super-strong form.
d.strong form. 
FIN 307 Grantham University Principles of finance Essay

Red Wine and its Atherosclerotic-Lowering Potential Essay

essay writing help Introduction According to AHA report in 2007, Diseases of the Heart is not equivalent to Total Cardiovascular Disease, the latter term is to be used to describe the leading causes of death. Data from the 2003 Health Survey for England suggest the prevalence of coronary heart disease (CHD) in England was 7.4% in men and 4.5% in. Combined data from prevalence studies on myocardial infarction suggest that overall about 4% of men and 2% of women in the UK have had a heart attack. Studies on the prevalence of angina in the UK showed that the rate appears to be higher in Scotland than in England. Figures from the 2003 Health Survey for England suggest that about 8% of men and 5% of women aged 55 to 64 and about 17% of men and 8% of women aged 65 to 74 have or have had. The Heart of England Screening study on heart failure, selected patients by systematic random sampling of all men and women aged over 45 years registered at GP practices in the West Midlands. Over 2% of patients (3% of men and 1.7% of women) screened had definite heart failure. Probable heart failure was seen in around a further 1% of patients, which suggests that more than 3% of people aged 45 and over in the UK have definite or probable heart failure. Heart and circulatory disease is the UK’s biggest killer. In 2002, cardiovascular disease (CVD) caused 39% of deaths in the UK [Retrieved from British Heart Association Statistics web page]. In 1819, an Irish physician named Samuel Black reported, that the French suffer relatively low incidence of coronary heart disease, despite having a diet rich in saturated fat; he called this phenomenon The French Paradox (Ferrieres 2004). It has been suggested that France’s high red wine consumption is a primary factor in the French paradox (Law; Wald 1999). Atherosclerosis is a type of arteriosclerosis. The name comes from the Greek words athero (meaning gruel or paste) and sclerosis (hardness). It’s the term for the process of fatty substances, cholesterol, cellular waste products, calcium and fibrin (a clotting material in the blood) building up in the inner lining of an artery. The buildup that results is called plaque (AHA 2007). Pathophysiology of atherosclerosis Mechanisms contributing to atherogenesis are multiple and complex. A number of theories including the role of dyslipidemia, hypercoagulability, oxidative stress, endothelial dysfunction, and inflammation and infection by certain pathogens, have been propounded from time to time explain this complex phenomenon. Recently it has been suggested that atherosclerosis is a multifactorial, multistep disease that involves chronic inflammation at every step, from initiation to progression, and that all the risk factors contribute to pathogenesis by aggravating the underlying inflammatory process (Mallika, Goswami and Rajappa, 2007). The possible role of red wine in lowering the potential of atherosclerosis is better understood in the lights of pathophysiological changes that characterize the disorder. The findings of Boudi and others 2006 indicate that the critical cellular elements of atherosclerotic lesions are endothelial cells, smooth muscle cells, platelets, and leucocytes. They also stated that vasomotor function, the thrombogenicity of the blood vessel wall, the state of activation of the coagulation cascade, the fibrinolytic system, smooth muscle cell migration and proliferation, and cellular inflammation are complex and interrelated biological processes that contribute to atherogenesis and the clinical manifestations of atherosclerosis. Get your 100% original paper on any topic done in as little as 3 hours Learn More Mechanisms of vascular stiffness Zieman and others 2005 stated that: Vascular stiffening develops from a complex interaction between stable and dynamic changes involving structural and cellular elements of the vessel wall. Their findings also indicated that these vascular alterations are influenced by haemodynamic forces as well as by “extrinsic factors” such as hormones, salt, and glucose regulation. The role of lipids Crowther 2005 explained that: The lipid hypothesis of atherogenesis has been dramatically modified over the last 20 years. In his lecture he added: “Once viewed as the initiating agent of atherothrombosis, it is now recognized that localization and accumulation of lipid occurs in response to earlier changes in the vascular endothelium. Accumulation of lipid is, however, required for the development of the definitive plaque. Lipid deposition likely starts with the movement of LDL from the blood into the vessel wall. Once within the media three fates can befall the LDL: it may move back into the bloodstream (a hallmark of lesional regression and a process that may be facilitated by some lipid lowering strategies), it may become oxidized (through action of free radicals or direct activity of leukocytes) or it may be taken up by monocyte/macrophages which ultimately become foam cells. Oxidized LDL is particularly atherogenic and is chemotactic for monocyte-macrophages”. He explained the role played by macrophages as they “bind intra-intimal LDL via a family of novel receptors known as scavenger receptors, which recognize LDL only after it has been oxidized. Uptake of oxidized LDL renders the macrophages less mobile, thereby promoting the accumulation of these lipid-laden cells in the intima. The foam cells retain their metabolic activity and secrete a variety of cytokines and inflammatory mediators. Outcomes of their activation include recruitment and proliferation of smooth muscle cells (which in turn elaborate additional locally active cytokines), further LDL oxidation, recruitment of additional monocyte/foam cells and additional impairment of endothelial function”. Nitric oxide and nitric oxide synynthase In the endothelium, nitric oxide (NO) is constitutively generated from the conversion of L-arginine to L-citrullin by the enzymatic action of endothelial NO synthase (eNOS). An impairment of endothelium-dependent relaxation (EDR) is present in atherosclerotic vessels even before vascular structural changes occur, and represents the reduced eNOS-derived NO activity. Because of its multiple biological actions, NO from eNOS is believed to act as an anti-atherogenic molecule. The presence of dysfunctional eNOS may not only impair EDR but also accelerate lesion formation in atherosclerotic vessels (Kawashima 2004). Pattern of occurrence of atherosclerotic lesions Zieman and others 2005 showed that stiffness is not uniformly disseminated throughout the vascular tree but is often patchy occurring in central and conduit vessels while sparing more peripheral arteries. Common diseases, such as hypertension and diabetes mellitus, or simply aging itself, amplify the vascular changes that result in artery stiffening and can do so in different, yet synergistic, ways. Evolution of the atherosclerotic plaque Crowther 2005 stated that; Evolution of the atherosclerotic plaque is characterized by gradual enlargement over time due to the accumulation of foam cells. He differentiated between slowly growing plaques and rapidly growing ones, “Slowly growing plaques gradually accumulate lipid within foam cells; proliferation of smooth muscle cells and elaboration of intracellular matrix produce the definitive fibrous plaque. We will write a custom Essay on Red Wine and its Atherosclerotic-Lowering Potential specifically for you! Get your first paper with 15% OFF Learn More In general, such plaques tend to have adherent endothelial layers that are not prone to sudden disruption with associated activation of coagulation. Some plaques grow at a much greater rate than would be predicted by simple lipid accumulation and expansion of the components of the fibrous plaque. Cholesterol accumulation within such plaques is due to both “passive” transfer of LDL from the circulation and scavenging of red blood cell membranes deposited during intraplaque hemorrhage. Angiogenic signaling and proliferation of microvessels within the plaque is only now beginning to be understood; however, plaque hemorrhage is likely attributable to bleeding from fragile microvessels that proliferate within the plaque itself”. Does red wine affect cardiovascular diease: Epidemiological evidence Drinking red wine has been portrayed by the media as a means of combating heart disease. Do these claims have any real medical basis? The main health benefit of moderate alcohol use appears to be related to its effect on the development of atherosclerosis or the accumulation of fatty plaques in the blood vessels, particularly the coronary arteries that supply the heart. Data from 51 epidemiological studies were studied by Szmitko and Verma, 2005 (a), they showed that the risk of coronary heart disease decreased by approximately 20% when 0 to 2 alcoholic drinks were consumed per day. The question of is red wine advantageous to other alcoholic beverages was attended by the Copenhagen City Heart Study (after Szmitko and Verma 2005 a), in which 13,285 men and women were observed for 12 years suggested that patients who are used to moderate intake of wine had half the risk of dying from cardiovascular and coronary heart disease or stroke as those who never drank wine. The same study showed that those who drank beer and spirits did not experience this advantage. The additional benefit of red wine is supported further by an analysis of 13 studies involving 209,418 participants. This analysis showed a 32% risk reduction of atherosclerotic disease with red wine intake, which was greater than the 22% risk reduction for beer consumption. Other studies and reviews have failed to show a beneficial effect for red wine, however, and hence it could be concluded that other lifestyle factors such as diet, exercise, socioeconomic status, or pattern of alcohol consumption may have played a role in giving wine drinkers an advantage in lowered rates of atherosclerosis. The chemical composition of red wine may contribute to its apparent benefit. A series of scientific studies (Szmitko and Verma, 2005-a) suggests that the polyphenolic compounds in red wine such as flavonoids and resveratrol, may play important role in limiting the start and progression of atherosclerosis. How red wine affects atherosclerosis Grapes contain a wide variety of polyphenols including resveratrol (stilbene), catechins, flavonoids and its derivatives, flavons, flavonols, and anthocyanins. These compounds present in the red wine possess a number of biological effects that might participate in vascular protection, including anti-aggregatory, antioxidant and free radical scavenging properties. Another therapeutically relevant effect of flavonoids may be their ability to interact with the generation of NO from vascular endothelium, which leads not only to vasodilatation, but also to the expression of genes that protect the cardiovascular system Polyphenols also contribute to the preservation of the integrity of cells belonging to the vascular wall, mainly those in the endothelium, by acting on the signalling cascades implicated in endothelial apoptosis. Due to their antioxidant properties, diets supplemented with foods containing flavonoids, might also protect different tissues against ischemic damage. Flavonoids reduce oxidative and nitrosative stress leading to cellular death. All these effects of flavonoids might interfere with atherosclerotic plaque development and stability, vascular thrombosis and occlusion and they might therefore explain their vascular protective. Recently, the possible advantage of a moderate wine consumption in patients with chronic renal failure was hypothesized. Therefore, it is expected that the naturally occurring nutritional sources of antioxidants, such as fruits, vegetables, tea or wine, would also attenuate the renal damage caused by oxidative challenges (Pechanova et al 2006). Promotion of endothelial function Endothelial dysfunction is an early pathophysiological feature and independent predictor of poor prognosis in most forms of cardiovascular diseases. Epidemiological studies report an inverse association between dietary flavonoid consumption and mortality from cardiovascular diseases. Perez-Vizcaino, et al 2006, reviewed the effects of flavonoids, especially quercetin and wine polyphenols, on endothelial function and dysfunction and its potential protective role in hypertension, ischemic heart disease and stroke. In vitro studies showed that flavonoids may exert multiple actions on the NO-guanylyl cyclase pathway, endothelium-derived hyperpolarizing factor(s) and endothelin-1 and protect endothelial cells against apoptosis. In vivo, flavonoids prevent endothelial dysfunction and reduce blood pressure, oxidative stress and end-organ damage in hypertensive animals. Moreover, some clinical studies have shown that flavonoid-rich foods can improve endothelial function in patients with hypertension and ischemic heart disease. Altogether, the available evidence indicates that quercetin and wine polyphenols might be of therapeutic benefit in cardiovascular diseases even though prospective controlled clinical studies are still lacking. Not sure if you can write a paper on Red Wine and its Atherosclerotic-Lowering Potential by yourself? We can help you for only $16.05 $11/page Learn More Oxidative modification in atherosclerosis There is now a consensus that atherosclerosis represents a state of heightened oxidative stress characterized by lipid and protein oxidation in the vascular wall. The oxidative modification hypothesis of atherosclerosis predicts that low-density lipoprotein (LDL) oxidation is an early event in atherosclerosis and that oxidized LDL contributes to atherogenesis. In support of this hypothesis, oxidized LDL can support foam cell formation in vitro, the lipid in human lesions is substantially oxidized, there is evidence for the presence of oxidized LDL in vivo, oxidized LDL has a number of potentially proatherogenic activities, and several structurally unrelated antioxidants inhibit atherosclerosis in animals. An emerging consensus also underscores the importance in vascular disease of oxidative events in addition to LDL oxidation. These include the production of reactive oxygen and nitrogen species by vascular cells, as well as oxidative modifications contributing to important clinical manifestations of coronary artery disease such as endothelial dysfunction and plaque disruption. Despite these abundant data however, fundamental problems remain with implicating oxidative modification as a (requisite) pathophysiologically important cause for atherosclerosis. These include the poor performance of antioxidant strategies in limiting either atherosclerosis or cardiovascular events from atherosclerosis, and observations in animals that suggest dissociation between atherosclerosis and lipoprotein oxidation. Indeed, it remains to be established that oxidative events are a cause rather than an injurious response to atherogenesis. In this context, inflammation needs to be considered as a primary process of atherosclerosis, and oxidative stress as a secondary event. To address this issue, we have proposed an “oxidative response to inflammation” model as a means of reconciling the response-to-injury and oxidative modification hypotheses of atherosclerosis (Stocker and Keaney 2004). Red wine and nitric oxide (NO) Szmitko and Verma 2005 (b) in their review article stated that nitric oxide (NO) is the key endothelium-derived relaxing factor that plays a pivotal role in the regulation of vascular tone and vasomotor function, also NO protects against vascular injury, inhibits leukocyte adhesion to the endothelium, and limits platelet aggregation. Szmitko and Verma 2005(b) reviewed in vitro studies and showed that while ethanol appears to increase the expression of endothelial NO synthase and NO production in aortic endothelial cells, red wine polyphenols, in particular resveratrol, appear to further enhance endothelial NO synthase expression and activity and subsequent NO release from endothelial cells. Red wine, and not white or rose´ wines, inhibits endothelin-1 synthesis, a potent vasoconstrictor that is seen as a key factor in the development of vascular disease and atherosclerosis (Szmitko and Verma 2005-b). Red wine and Low Density Lipoproteins (LDL) The oxidation of LDL cholesterol increases its uptake by macrophages resulting in foam cell formation as well as decreasing intracellular concentration of nitric oxide to cause endothelial activation (Szmitko and Verma 2005-b). Thus, if LDL oxidation is reduced, atherosclerotic plaque formation may be decreased (Szmitko and Verma 2005-b). The phenolic substances in red wine have potent antioxidant properties that inhibit the formation of oxLDL in vitro, as well as macrophage-mediated LDL oxidation (Szmitko and Verma 2005-b). Human studies reviewed by Szmitko and Verma 2005 (b) suggest that the consumption of red wine or alcohol-free red wine leads to a significant increase in serum antioxidant activity, which may reduce the susceptibility of LDL to oxidation in vivo, limiting the extent of atheroma formation. Red wine effects on inflammatory biomarkers in atherosclerosis Inflammatory activation of the endothelium is marked by the increased expression of inflammatory biomarkers (Szmitko and Verma 2005-b). Estruch et al, 2004 showed that after either gin or wine consumption, plasma fibrinogen decreased by 5 and 9%, respectively, and cytokine IL-1α by 23 and 21%. The expression of LFA-1 [Lymphocyte function-associated antigen-1] (−27%), Mac-1 [Macrophage -1 Antigen] (−27%), VLA-4 [(Very Late Antigen-4] (−32%) and MCP-1 [monocyte chemotactic protein] (−46%) decreased significantly after wine, but not after gin. Wine reduced the serum concentrations of CRP [C-reactive protein] (−21%), VCAM-1 [vascular cell adhesion molecule] (−17%) and ICAM-1 [Intercellular Adhesion Molecule] (−9%). Effect of red wine on plaque destabilization, rupture, and thrombosis Disruption of a vulnerable atherosclerotic plaque when exposed to haemodynamic stresses because of slow blood stream can initiate intravascular thrombosis with both the alcohol and polyphenolic compounds in red wine appear to have antithrombotic action (Szmitko and Verma 2005-b). “Erosion of the plaque surface, characterized by areas of endothelial cell desquamation, exposes a prothrombotic surface, making subendothelial collagen, tissue factor, and von Willebrand factor accessible to components in the circulation, resulting in coagulation and thrombin formation” (Szmitko and Verma 2005-b). Light to moderate alcohol consumers have lower levels of fibrinogen, von Willebrand factor, and factor VII, with wine drinkers additionally having lower plasminogen activator inhibitor antigen-1 suggesting a reduction in haemostasis (Szmitko and Verma 2005-b). Furthermore, any form of alcohol consumption also increases antithrombin-III activity (after Szmitko and Verma 2005-b), and based on results from the Physicians’ Health Study is associated with increased tissue plasminogen activator concentrations (after Szmitko and Verma 2005-b). In vitro, alcohol induced the expression of tissue-type plasminogen activator in human endothelial cells, resulting in enhanced fibrinolytic activity (Szmitko and Verma 2005-b). Resveratrol and other polyphenolic compounds decrease platelet aggregation, possibly by interfering with prostaglandin synthesis and ADP-mediated aggregation” (Szmitko and Verma 2005-b). Conclusion Prudent use of alcohol may be acceptable in the prevention, and even management, of CV disease. It is reasonable to inform patients that beneficial effects occur if they exercise moderation in consumption. Only with great caution should patients who do not drink alcohol begin to imbibe because of the risk of alcohol abuse. It is possible that in the future, genetic testing may identify those at high risk for developing alcohol dependence. References Statistical Update, 2007, the American Heart Association (AHA), British Heart Association Statistics web page. Web. Ferrieres, J, 2004, The French Paradox: Lessons for other countries. Heart, 90: 107-111 [Electronic version]. Law, M, Wald, N, 1999, why heart disease mortality is low in France: The time lag explanation BMJ, 318:1471-148. Szmitko, P, and Verma, S, 2005, Red wine and your heart. Circulation (electronic version) 111:e10-e11. Mallika, V, Goswami, B and Rajappa, M, 2007, Atherosclerosis pathophysiology and the role of novel risk factors: A clinico-biochemical perspective. Angiology, 58: 513. Boudi, F, Ahsan, C, Orford, J, and Selwyn, A, 2006, Atherosclerosis. eMedicine specialitiesCardiology (electronic version). Zieman, S. Melenovsky, V. and Kass, D 2005, Mechanisms, pathophysiology and therapy of vascular stiffness, Arterioscler. Thromb. Vasc. Biol. 25: 932-943 Downloaded from on December 21, 2007. Crowther, M. 2005, Pathogenesis of atherosclerosis, The American Society of Hematology (Hematotology Education Book). Web. Kawashima, S. 2004, Two faces of endothelial nitric oxide synthase in the pathophysiology of atherosclerosis, Endothelium 11(2): 99-107. Kolodgie, F, Gold, H, Burke, A, et al. 2003, Intraplaque haemorrhage and progression of coronary atheroma, N Engl. J Med. 349(24):2316-25. Sited in Boudi, F, Ahsan, C, Orford, J, and Selwyn, A, 2006, Atherosclerosis. eMedicine specialitiesCardiology (electronic version). Pechanova, O. Rezzani, R., Babal, P., Bernatova, I. and Andriansitohaina, I. 2006, Minireview: Beneficial effects of Provinols™: Cardiovascular System and Kidney. Physiol. Res, 55 (Suppl. 1): S17-S30. Web. Perez-Vizcaino, F. Durate, J. and Andariantsitohaina, R. 2006, Endothelial function and cardiovascular disease: Effects of quercetin and wine polyphenols, Free radic. Res. 40 (10): 1054-1065. Stocker, R. and Keaney, J. 2004, Role of oxidative modifications in atherosclerosis, Physiol. Rev. 84: 1381-1478. Szmitko, P and Verma, S. 2005, Antiatherogenic potential of red wine: Clinician update, Am J Physiol Heart Circ Physiol 288 (5): H2023–H2030. Estruch, R. Sacanella, E. Badia, E. Antúnez, E. Rubin, E. et al, 2004, Different effects of red wine and gin consumption on inflammatory biomarkers of atherosclerosis: a prospective randomized crossover trial Effects of wine on inflammatory markers. Atherosclerosis, 175 (1): 117-123.

Michigan Education Rehabilitation for Prisoners Rehabilitation Program Paper

Michigan Education Rehabilitation for Prisoners Rehabilitation Program Paper.

REHABILITATION PROGRAM PAPER SPECIFICATIONS:I. Rehabilitation Program SpecificationsEach student is required to develop a rehabilitation program that could be implemented by prisons, jails, and/or community-based correctional agencies. This should be the development of your own unique program, NOT a summation of an already existing rehabilitation program! The proposal is worth 200 semester points. Points will be awarded based on 1) level of creativity; 2) application of rehabilitative theory, concepts and practices; 3) incorporation of supporting literature and research (must utilize at a minimum seven scholarly sources); 4) the degree to which the outline below is followed; 5) the degree to which the program is clearly connected to the problem/issue it has been developed to address; 5) comprehensiveness; 6) clarity; 7) the accurate citation of sources in the proposal and in a separate reference page; and 8) professional appearance (i.e. free of spelling & grammatical errors).The proposal should include at a “minimum” the following:1. Introduction (20 points): Introduce the reader to your proposed program in a general way—i.e. What is the title of your program?; What types of clients will your program target (i.e. all inmates, drug offenders, armed robbers, etc.)?; What is the basic premise of your program?; In what type of setting will you implement your program?; Why is the program needed?2. Program Description (130 points)a. Identify the name of your program (5 points)b. Write a mission statement for your program (i.e. The mission of our program is…) (5 points)c. Identify the target population of the program (i.e. type of client/offender). Provide rationale for why your program will work with this population. (5 points)d. Delineate and describe the stages/phases that a participant must go through in completing the program (be as detailed as possible in your description of each phase) (25 points)e. Identify the specific rehabilitative strategies and/or therapeutic techniques that will be employed with your chosen offender population (your book covers a number of different treatment approaches, but you can research and use other approaches as well).Explain why that premise or strategy will work with the type of offenders you have chosen to treat. (25 points)f. Identify short-term, mid-range, and long-range goals of your program (15 points)g. Identify and describe successful goals/outcome(s) of your program. (be specific: i.e. if you want to reduce recidivism, state by how much—10% in one year, 25% in two years and 50% in three years– as an example). Provide rationale for your outcomes. (15 points)h. Identify the instruments that will be used and the process by which the goals/outcomes will be measured. Be as specific as possible. In essence, how will you determine your program is working effectively/efficiently? (5 points)i. Identify all of the personnel that will be needed to run the program. Briefly explain each participant’s role in the program and their qualifications needed to be hired. (5 points)j. Identify where the program will be implemented. Explain. (5 points)k. Identify other major resources that will be necessary to effectively carry out the program (i.e. buildings, equipment, etc.). (5 points)l. Provide an estimate of the start-up costs and annual costs of your program (provide a breakdown of your basic costs—major items: i.e. salaries of personnel; building costs; equipment needed; etc.) (10 points)m. Identify challenges/obstacles that you would anticipate to affect the implementation and/or success of your program. Identify strategies you would undertake to attempt prevent or overcome them. (5 points)3. Program Foundation (30 points)a. Identify the reasons why you feel your program will be successful. Identify any theories or scholarly research that might provide evidence to support the premise and anticipated success of your program.****MORE INFORMATION ON SECOND PAGE***4. Summary (10 Points): Provide a basic summary of your program-who it targets, its goals, and then defend why you feel it is a necessary program to implement5. Citations (10 points): In APA or MLA format, cite any sources that you utilize in the development of your proposal. Make sure to reference sources within the body of the proposal itself and provide a full citation of resources used in a bibliography.
Michigan Education Rehabilitation for Prisoners Rehabilitation Program Paper

Los Angeles Pierce College Monopoly Owners of Sports Franchises Discussion

Los Angeles Pierce College Monopoly Owners of Sports Franchises Discussion.

In many large U.S. cities, monopoly owners of sports franchises have been lobbying local governments for new publicly financed sports stadiums. Is this a form of rent seeking?Go to Heartland Institute’s Web site (Links to an external site.), conduct a search for sports stadiums, and look at one of the documents collected there.- Is there convincing evidence of rent seeking?What Is Rent-Seeking?”Rent-seeking happens when a person or business uses their position or resources to get some additional benefit from the government. The most common occurrence is when a company or industry lobbies the government to receive special subsidies, grants, and tariff protection. The term “rent” in economics means receiving a payment that is over the costs involved in the production of the item or keeping the item in service. These actions do not produce any benefit for the community-at-large but only redistribute taxpayer’s resources” – from Investopedia to help with assignment.- If so, how does that relate to the welfare cost of monopoly?10 Sentences minimum. No replies needed. Provide link to at least one article you looked at.

Los Angeles Pierce College Monopoly Owners of Sports Franchises Discussion

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