The Companies Ordinance Essay Example for Free

The Companies Ordinance Essay II. REGISTERED OFFICE: The registered office of the company will be situated be situated in the province of Sindh III. OBJECT CLAUSE: The objects for which the Company is established are: 1. To manufacture, treat, produce, process, prepare, pack, bottle, can import, export, buy, Sell, market, distribute or otherwise deal in any or all types of foods including without limitation all kinds of raw, processed and prepared food and food products including without limitation dairy products, meat, fish, vegetables, poultry, fruit and fruit Juices, powders and syrups; 2. To advertise all or any of the business and goods of the Company in any way that may be thought advisable; 3. To open and operate accounts, overdraft cash, credit and loan accounts and to keep fixed and other deposits with banks, firms, corporations and institutions, loan offices and other concerns; 4. To do all or any of the above things in any part of the world either as principals, agents, Contractors or otherwise and either alone or in conjunction with others, but not to act as a managing agent 5. To expend money in experimenting on and testing and improving or seeking to improve any patents, rights, invention, discoveries, processes or information of the Company or which the Company may acquire or propose to acquire; IV. LIABILITY CLAUSE: The liability of the members is limited V. AUTHORIZED CAPITAL: The authorized share capital of the Company is Rs. 8,500,000,000 (Rupees Eight Billion Five Hundred Million) divided into 850,000,000 (Eight Hundred Fifty Million) ordinary shares of the nominal value of Rs.10.00 (Rupees ten) each with the rights, privileges, and conditions attached. Here to as are provided for the time being, with power to increase and reduce the capital of the Company and to divide the shares in the capital for the time being, into several classes.

Report on the Strategic Approaches of BNP Paribas

Report on the Strategic Approaches of BNP Paribas The objective of this report is to critically evaluate and analyze the strategic approaches in the operation of a financial institution of our choice. The chosen institution of study is BNP Paribas. This report will include a PESTEL analysis, an evaluation of the Singapore environment examining the political, economical, social-cultural, technological, environmental and legislative aspects of the environment and an application of the theory to BNP Paribas. In addition, we will look at the organizations products, target market, strategies and critical changes, the application of Porters five forces model, and conduct a SWOT analysis looking at the strengths, weaknesses, opportunities and threats presented to the organization. This will be followed by a STP analysis, looking at the segmentation, targeting and positioning of the organization, as well as a financial statements analysis and recommendations for future development strategies for the organization. Introduction of the Company BNP Paribas has been at the forefront of the banking sector with a 10 year history and deep-rooted traditions in innovation banking which has led them to the success they are today. They have earned the title of being Frances premier bank and are known for their strong market positions and robust risk management. They have risen to become a global leader in the provision of financial services and its brand is the companys major asset, ranking 6th most valuable banking brand according to Brand Finances 2010 rankings (Brand Finance, 2010  [i]  ). This ranking is largely due to the Groups financial strength and part due to its success brought about by Michel Pà ©bereau former CEO who led BNP to merger opportunities that transitioned the company (SP, 2010  [ii]  ). With such noted growth and success, the company truly lives up to its motto the bank for a changing world, incessantly evolving and adapting successfully to the ever-changing environment, seizing opportunities that come along with a strong focus on achieving its goals, carefully planning and managing its business activities and ensuring effective cost-cutting measures. Nature of the business BNP Paribas is a universal bank providing a diverse range of banking services predominantly offering and specialising in three core business areas: corporate and investment banking services, investment solutions services and retail banking which includes services for personal finances and equipment solutions. Its financial services are offered to a variety of customers both individuals, corporate businesses and other financial institutions (BNP Paribas, 2010  [iii]  ). Present situation On 23rd July 2010, Fortune Magazine had presented its annual global rankings of Americas largest corporations. Achieving a modest improvement from 2009, BNP Paribas placed 18th in this years rankings and 7th largest Banking Corporation in the banking sector based on revenues and sales (CNN, 2010  [iv]  ). Such positive results achieved by the Group can be attributed to its strong Board of Directors who possesses the skills, leadership, performance and experience required to lead the way into the future. BNP Paribas success also stems from the effectiveness of their diversified and integrated business model and their committed focus on investment strategy and innovation. Mission BNP Paribass mission is to achieve its goal to become the bank for a changing world. In order to achieve this, they plan to provide diversity, creativity and efficiency that generate performance gains and to value differences among people in various countries.  Respecting and promoting differences among employees are major assets when it comes to the bank for a changing world (BNP Paribas, 2010  [v]  ). See Appendix 1 for its core values. Vision BNP Paribas is determined to be a benchmark banking group with focus placed on customer satisfaction and the active pursuit for improvements in its earning capacity. BNP has adopted the motto of bank of the changing world from its core values and it is their core values which motivate and direct them towards their vision (BNP Paribas, 2010). Goals Technological development, globalisation, environmental issues are challenges that face both businesses and individuals today. BNP Paribas is committed to assisting its customers to confront these rapid changing issues. Therefore, the Groups goal is to constantly seek out new sources of progress by developing innovative ideas and initiatives (BNP Paribas, 2010). An Application of PESTEL to Singapores environment BNP Paribas Singapore A PESTEL analysis is essential in every organization as certain factors within the macro-environment will have significant impact on the organization and the decisions it makes. There are various political, economical, social and cultural, technological, environmental and legislative factors that need to be taken into consideration (Kotler, P Armstrong, G, 1999  [vi]  ). Each will be discussed further below in context of Singapore and its impact on BNP Paribas. P- Political The Peoples Action Party (PAP) dominated the political scene since 1959 (Janus Corporate Solutions, 2010  [vii]  ). The partys choices of action, ideas, policy-making and planning proposals are well supported by the community and the integrity and effective leadership demonstrated by the PAP secured economic growth and political stability. With the adoption of a collective leadership style with its corrupt free-government image, Singapores government has maintained a strong sturdy political framework. It is Singapores political stability and corrupt-free environment that banks like BNP Paribas see Singapore as an opportunity to venture into the Asian markets. Their success in Singapore was led by Singapores aim to liberalize the banking sector which they followed in 1999. This move was rewarded as they became one of the pioneering foreign banks. E- Economical  [viii]   The hustle and bustle economic scene of Singapore is part due to its geographical location. Its strategic location which houses an industrious population though it lacks physical resources and has a relatively small domestic market has given the country an economic importance in Southeast Asia. Singapore carried out an economic strategy to overcome its problems and achieved an average of 7.8% growth from 1965 to 2009 (US Bureau of Public Affairs, 2010  [ix]  ). Though its economy has suffered setbacks due to pandemic outbreaks, the economy bounced back each time. See in Appendix 2 on GDP and Government Debts. BNP Paribas must firstly identify the relevant economic factors that would influence their company. Singapores tourism scene is an opportunity to target those tourists needs financially. In addition, economic growth is tied with profits made as such it is another motivating factor to operate in Singapore. S-Social Cultural Social factors are the demographic and cultural aspects of the environment such as age and gender distribution, religion and employability rates, which can impact the demand for a firms products and the availability and motivation/willingness to work. See Appendix 4 on analysis of GDP and employment rates. BNP Paribas has contributed much to the employability in Asia. According to an article in Forbes Magazine titled; BNP Paribas Wealth plans Singapore hiring spree (2010), BNP plans to increase its employees count in Singapore from 300 as of 2008 to 500 employees, while other banks like DBS and Deutsche Bank plans job cuts. This increase in employees is a result of BNPs involvement in the wealth management business and their aim to be the largest most profitable and attractive for its clients and their assets as explained by Serge Forti (BNP Chief Executive for Asia Pacific Wealth Management) (Forbes, 2010  [x]  ). T-Technological Singapore has sophisticated state-of-the-art Telecommunications and Internet facilities which cater to the needs of its users, providing them with high quality communications accessible worldwide. Innovation is a strong differentiating factor in the banking sector. It is a core tenet of the BNP Groups strategy. Innovation will enable them to adapt quickly to the ever-changing environment and to deliver the best quality products and services to its clients. An example of innovation demonstrated by BNP Paribas is in its photovoltaic loan  [1]  (BNP Fortis Bank, 2010  [xi]  ). E- Environment The leading researcher on Global Warming, an American government scientist Hansen (2007) believes that the speed of the natural changes is dwarfed by the changes that humans make to the atmosphere and surface (Hansen 2007)  [xii]  . This scientific evidence has created greater environmental awareness among individuals and businesses. Since then, there has been a growing desire to protect the environment. Singapores Government environment commitment extends to the ecological footprint of business organizations and could accelerate the potential environmental leadership role that transnational corporations can play. The greatest challenge in the climate change action is to make people aware of the consequences of our actions. As such, BNP Paribas has launched programs to raise their awareness of the impacts of Climate Change. L-Legislative According to Singapore Academy of Law (2006)  [xiii]  , there are specific laws that banks are required to abide to. As such BNP Paribas must follow the common laws and principles as stated in relevant Acts passed by Parliament  [xiv]  . The Monetary Authority of Singapore (MAS) who publishes and administers Acts and Subsidiary legislation governs legislation in the financial industry. Changes in legislation can affect a firms cost for adaptation and demand of goods and services. Singapores economic policy is to promote wealth through sustained and stable economic growth, guided by the free market economic system which allows market forces to determine the pattern of trade (ADB, 2010  [xv]  ). In addition, Singapore does not have any sector-specific policies; this freedom within the policies could provide BNP Paribas with an advantageous opportunity to manipulate this area. Financial Analysis A financial analysis uses financial performance indicators to judge the performance of the company. It looks at 5 categories of ratios which are; Profitability, Liquidity, Efficiency, Investor and Financing. The tables below are the summarized results for BNP Paribas from Year 2005 to 2009 (5-year performance analysis); Profitability Ratios Ratios Year 2005 Year 2006 Year 2007 Year 2008 Year 2009 Gross Profit 100% 100% 100% 100% Gross Profit à ¢Ã¢â‚¬Å¡Ã‚ ¬27,648miilion à ¢Ã¢â‚¬Å¡Ã‚ ¬29,823miilion à ¢Ã¢â‚¬Å¡Ã‚ ¬22,105 million à ¢Ã¢â‚¬Å¡Ã‚ ¬31,909 million Revenue/Sales à ¢Ã¢â‚¬Å¡Ã‚ ¬27,648miilion à ¢Ã¢â‚¬Å¡Ã‚ ¬29,823miilion à ¢Ã¢â‚¬Å¡Ã‚ ¬22,105 million à ¢Ã¢â‚¬Å¡Ã‚ ¬31,909 million Net Profit 26% 26% 14% 18% Net Profit à ¢Ã¢â‚¬Å¡Ã‚ ¬7308 million à ¢Ã¢â‚¬Å¡Ã‚ ¬7822million à ¢Ã¢â‚¬Å¡Ã‚ ¬3021million à ¢Ã¢â‚¬Å¡Ã‚ ¬5832million Revenue/Sales à ¢Ã¢â‚¬Å¡Ã‚ ¬27,648 million à ¢Ã¢â‚¬Å¡Ã‚ ¬29,823miilion à ¢Ã¢â‚¬Å¡Ã‚ ¬22,105 million à ¢Ã¢â‚¬Å¡Ã‚ ¬31,909 million Return on Capital Employed (ROCE) 15.8% 5.7% 9.5% Profit before Interest Tax à ¢Ã¢â‚¬Å¡Ã‚ ¬7308 million à ¢Ã¢â‚¬Å¡Ã‚ ¬7822million à ¢Ã¢â‚¬Å¡Ã‚ ¬3021million à ¢Ã¢â‚¬Å¡Ã‚ ¬5832million Average Capital Employed à ¢Ã¢â‚¬Å¡Ã‚ ¬45,065+53,799/2 million à ¢Ã¢â‚¬Å¡Ã‚ ¬53,228+53,799/2 million à ¢Ã¢â‚¬Å¡Ã‚ ¬53,228+69,501/2 million Return on Assets (ROA) 0.51% 0.46% 0.15% 0.28% Net Income à ¢Ã¢â‚¬Å¡Ã‚ ¬7308 million à ¢Ã¢â‚¬Å¡Ã‚ ¬7822million à ¢Ã¢â‚¬Å¡Ã‚ ¬3021million à ¢Ã¢â‚¬Å¡Ã‚ ¬5832million Total Assets à ¢Ã¢â‚¬Å¡Ã‚ ¬1,440,343 million à ¢Ã¢â‚¬Å¡Ã‚ ¬1,694,454 million à ¢Ã¢â‚¬Å¡Ã‚ ¬2,075,551 million à ¢Ã¢â‚¬Å¡Ã‚ ¬2,057,698 million (Source: Created for the purpose of this assignment) The table above shows that for every sales dollar, the same amount will be available to cover its expenses and profits. This is relatively bad for the company if there were any fixed expenses that require payment after the gross profit has been calculated. The return on assets (ROA) tells the efficiency of the company in using its assets to generate profits. The table above shows that ROA has a decreasing trend reaching as low as 0.28%. The net profit is a result of deducting all expenses from gross revenue. In this case, the net profit over the 4 year period has decreased to 18%. Therefore this suggests that the companys widely known success does not match with its actual financial performance. Liquidity Ratios Ratios Year 2005 Year 2006 Year 2007 Year 2008 Year 2009 Current Ratio 87c 73c 81c 53c (Source: Created for the purpose of this assignment) Current ratio gives an indication of the companys ability to pay its short term liabilities and debts with its short term assets. A low ratio below 1 suggests that the company will have trouble paying its debts and liabilities. This shows the companys efficiency in its operating cycle in turning its product into cash is weak. As such, the company is financially unhealthy and they would need to develop strategies to go about providing more financing for the company or they may run into liquidity issues. Efficiency Ratios (Source: Created for the purpose of this assignment) Ratios Year 2005 Year 2006 Year 2007 Year 2008 Year 2009 Debtors Collection Period 276 days 282 days 431 days 313 days Trade Receivables à ¢Ã¢â‚¬Å¡Ã‚ ¬20,919 million à ¢Ã¢â‚¬Å¡Ã‚ ¬23,008 million à ¢Ã¢â‚¬Å¡Ã‚ ¬26,079 million à ¢Ã¢â‚¬Å¡Ã‚ ¬27,379 Revenue/Sales à ¢Ã¢â‚¬Å¡Ã‚ ¬27,648 million à ¢Ã¢â‚¬Å¡Ã‚ ¬29,823miilion à ¢Ã¢â‚¬Å¡Ã‚ ¬22,105 million à ¢Ã¢â‚¬Å¡Ã‚ ¬31,909 million The debtors collection period ratio is an indicator of the period of time taken for money to be collected from debtors. The figures above suggest that the debtors collection is relatively slow, especially in 2008. This could have been caused by the Global Financial Crisis which caused worldwide panic and market fluctuations. By 2009, BNP Paribas was able to reduce its debtors collection period by 313 days. Although this figure is an improvement to 2008, it is still considered to be slow for debt collection. This will have an impact on the liquidity issues faced by the company. If the company can reduce its debtors collection time, it will have the necessary funds to resolve its liquidity issues and raise its current ratio above à ¢Ã¢â‚¬Å¡Ã‚ ¬1 or even à ¢Ã¢â‚¬Å¡Ã‚ ¬2 which suggests the company has more than enough assets to cover its liabilities. Investor Ratios Ratios Year 2005 Year 2006 Year 2007 Year 2008 Year 2009 Earnings per Share (EPS) 6.77 7.81 8.25 5.20 2.99 Dividend Cover 2.68 2.59 2.53 5.36 2 EPS à ¢Ã¢â‚¬Å¡Ã‚ ¬6.77 à ¢Ã¢â‚¬Å¡Ã‚ ¬7.81 à ¢Ã¢â‚¬Å¡Ã‚ ¬8.25 à ¢Ã¢â‚¬Å¡Ã‚ ¬5.20 à ¢Ã¢â‚¬Å¡Ã‚ ¬2.99 Dividend per Ordinary Share 2.53 3.01 3.26 0.97 1.50 Price/Earning Ratio (P/E Ratio) 8.50 9.24 8.12 5.52 18.13 Current Share Price per share à ¢Ã¢â‚¬Å¡Ã‚ ¬57.56 à ¢Ã¢â‚¬Å¡Ã‚ ¬72.13 à ¢Ã¢â‚¬Å¡Ã‚ ¬66.97 à ¢Ã¢â‚¬Å¡Ã‚ ¬28.71 à ¢Ã¢â‚¬Å¡Ã‚ ¬54.20 EPS à ¢Ã¢â‚¬Å¡Ã‚ ¬6.77 à ¢Ã¢â‚¬Å¡Ã‚ ¬7.81 à ¢Ã¢â‚¬Å¡Ã‚ ¬8.25 à ¢Ã¢â‚¬Å¡Ã‚ ¬5.20 à ¢Ã¢â‚¬Å¡Ã‚ ¬2.99 (Source: Created for the purpose of this assignment) The EPS is the core tenet in determining a shares price. It shows the companys ability to generate income which is allocated to each outstanding share of common stock. A positive increase in EPS suggests that the company is finding more ways to earn profits. However, it does not seem to be the case in 2008 and 2009 where EPS fell sharply. There is no stability in the EPS pattern. BNP Paribass dividend cover fell sharply in 2009. However, a low dividend cover may be acceptable if a companys profits are at a stable level, while a company with fluctuating profits indicates dividends are at risk. The difference in the market price and earnings movement will cause the price earning ratio to fluctuate. BNP Paribass P/E ratio in 2009 shows that there is a disconnection between the market price and the profits as such, it has caused the P/E ratio to rise. A low P/E ratio is potentially good for investors as there is a chance for making profits. Financing Ratios Ratios Year 2005 Year 2006 Year 2007 Year 2008 Year 2009 Debt to Equity Ratio 7.83 8.80 11.98 8.29 Total Debt à ¢Ã¢â‚¬Å¡Ã‚ ¬352,918 million à ¢Ã¢â‚¬Å¡Ã‚ ¬473,504 million à ¢Ã¢â‚¬Å¡Ã‚ ¬637,592 million à ¢Ã¢â‚¬Å¡Ã‚ ¬568,130 million Total Equity à ¢Ã¢â‚¬Å¡Ã‚ ¬45,065 million à ¢Ã¢â‚¬Å¡Ã‚ ¬53,799 million à ¢Ã¢â‚¬Å¡Ã‚ ¬53,228 million à ¢Ã¢â‚¬Å¡Ã‚ ¬69,501 million Debt Ratio 0.31 0.28 0.26 0.28 Total Debt à ¢Ã¢â‚¬Å¡Ã‚ ¬352,918 million à ¢Ã¢â‚¬Å¡Ã‚ ¬473,504 million à ¢Ã¢â‚¬Å¡Ã‚ ¬637,592 million à ¢Ã¢â‚¬Å¡Ã‚ ¬568,130 million Total Assets à ¢Ã¢â‚¬Å¡Ã‚ ¬1,440,343 million à ¢Ã¢â‚¬Å¡Ã‚ ¬1,694,454 million à ¢Ã¢â‚¬Å¡Ã‚ ¬2,075,551 million à ¢Ã¢â‚¬Å¡Ã‚ ¬2,057,698 million (Source: Created for the purpose of this assignment) A high debt equity ratio is a result of high debt usage in financing operations. This is particularly true for Year 2008 with a debt/equity ratio of 11.98. However, each year from 2006 show a high debt/equity ratio. This shows BNP could potentially generate more profit without outside financing. If this were to increase earnings by a greater amount than debt cost, then the shareholders of BNP Paribas would benefit from receiving more earnings. However, there are greater costs involved which may outweigh the return the company generates on debt through investment and its operations. BNP Paribass debt ratio from Year 2006 to 2009 is below 1 as such, this indicates that the financial institution has more assets than debt as evident in the Statement of Financial Position. Corporate Social Responsibility (CSR) BNP Paribass corporate social responsibility plays a major role in its environment and forms an integral part of its business ethics and embedded in its core values. They have taken charge of leading companies in implementing environmental friendly practices by signing up to the United Nations Global Compact in 2003 and in its financial sector initiatives, BNP has encouraged companies to include climate change issues in their investment decisions and have brought together companies to promote responsible behaviour by companies within the community. BNP has also signed up for Principles for Responsible Investment (PRI) which provides assistance to companies in incorporating environmental, social, and corporate governance concerns into their mainstream investment decision making practices (BNP Paribas Annual Report, 2009, p.118  [xvi]  ). See Appendix 5 on CSR as a management duty. Porters Five Forces Model Analysis Diagram 3: Porters Five Forces Model Source: Porter, M 2008 Threats of New Entrants (Strong) Singapore is relatively lenient when it comes to foreign businesses operations set up in Singapore since the country has a pro-business environment with rich cultural diversity and stable politics. We can also suggest the threats of new entrants may be strong because financial institutions are becoming universal, providing a diverse range of financial services and not just restricted to banking services. The new entrants are exploring innovative banking as such BNP Paribas adopts innovation as a key driver to outshine its competitors. Bargaining Power of Suppliers (Weak) The power of suppliers in influencing BNP Paribas is considered to be weak. The customers being the depositors do not have control of the interest rates set by the bank or on any internal operations, whereas for corporate clients, the bank still holds a greater power in the offering of services and package deals to its larger clients. The Credit Market provides the source of raw materials and liquid assets which is unmeasurable. Lastly, the Central Bank being MAS is responsible for the issuance of currency, supervision of financial services and stability surveillance and who is of last resort and provider of liquidity in the markets. Therefore, the Central Bank who controls the liquidity in the markets has some power in its influence on BNP Paribas as a whole than in day to day operations (Ackerman, J 2008  [xvii]  ). Bargaining Power of Buyers (Medium) The buyers of BNP Paribass products are the customers themselves; the depositors whom have some power in deciding which bank they would settle for. However, for the corporate clients, it is difficult to determine the differences in the services provided/offered by each bank as there is no specific service offer to each bank. Threats of substitute products or services (Strong) There are a variety of financial services being offered from various banks in Singapore who specialises in different business lines and have various experiences and successes. BNP Paribas Singapore faces greater threats towards its Corporate Investment Banking as well as Asset Management services. However, though various banks offer similar services to them, like its threats from new entrants, innovation is their key to compete with substitute products, to set themselves apart from its competitors (Bernet Partner, 2008  [xviii]  ). Rivalry among existing firms (Strong) There is intense rivalry among the financial industry. BNP Paribas competes with money centre banks, super regional banks and institutional asset management providers and financial planners. In Singapore, there are 113 competitive commercial banks, 49 merchant banks and 3 finance companies and three local banks; DBS, UOB and OCBC , the three largest banks in Southeast Asia (MAS, 2009  [xix]  ). BNP Paribas faces strong competition from in the area of asset management as Singapore is the premier asset management locations in Asia (MICA, 2009). A central location for the provision of risk management, insurance broking and offshore insurance services in which BNP is engaged in. It is BNPs innovative strategic plans and its prime financial attention to serving customers needs which sets them apart from its competitors.

Childhood Memories of Dad :: Personal Narrative

A memento is a reminder of the past, a keepsake. They come in many shapes and sizes. People save objects for many diverse reasons. In my case, I will forever keep and pass on my keepsake to my children because of the many good and bad memories it evokes from my childhood and about my father. It is a lime green 1976 KX250 dirt bike that my father had given to me as a child to restore and was exactly the same as the one he had bought as a teen. It is all black with a lime green gas tank that says Kawasaki and has two large knobby tires. It is one of the first race models that was produced for use on motocross dirt tracks and also the same as the first bike I would ever ride. The bike that would bring my father and I close together, and the bike that would make me love riding off road vehicles forever. I was only knee-high to a grasshopper when I first felt the wail of a two stroke engine underneath me. The noise that bike made was like a mother’s soft voice to a crying baby. I would usually just be sitting inside my grandparent’s house playing video games when I would here the loud purr of the motorcycle’s engine. I would light up with total excitement and usually run to the door to see if my Dad was going to take me for a ride. Most of the time I would end up in sheer joy, but occasionally, I would just get a feeling of disappointment. It’s the good times that I remember the best. I would put my worst clothes on because I knew I was going to get dirty. Then I would run outside to see my Dad putting his helmet on and revving the lime green bike up, while light blue smoke seeped from the exhaust pipe, which ran underneath the black engine. After I was done putting on the shiny new helmet and goggles that my Dad had bought me, he would pick me up and place me right in front of him, between him and the gas tank, so I could hold on to the crossbar on the handlebars. Then as he let the aluminum clutch lever out easy and gradually twisted the throttle, we would speed off around the gate and down the dirt road behind the house. Childhood Memories of Dad :: Personal Narrative A memento is a reminder of the past, a keepsake. They come in many shapes and sizes. People save objects for many diverse reasons. In my case, I will forever keep and pass on my keepsake to my children because of the many good and bad memories it evokes from my childhood and about my father. It is a lime green 1976 KX250 dirt bike that my father had given to me as a child to restore and was exactly the same as the one he had bought as a teen. It is all black with a lime green gas tank that says Kawasaki and has two large knobby tires. It is one of the first race models that was produced for use on motocross dirt tracks and also the same as the first bike I would ever ride. The bike that would bring my father and I close together, and the bike that would make me love riding off road vehicles forever. I was only knee-high to a grasshopper when I first felt the wail of a two stroke engine underneath me. The noise that bike made was like a mother’s soft voice to a crying baby. I would usually just be sitting inside my grandparent’s house playing video games when I would here the loud purr of the motorcycle’s engine. I would light up with total excitement and usually run to the door to see if my Dad was going to take me for a ride. Most of the time I would end up in sheer joy, but occasionally, I would just get a feeling of disappointment. It’s the good times that I remember the best. I would put my worst clothes on because I knew I was going to get dirty. Then I would run outside to see my Dad putting his helmet on and revving the lime green bike up, while light blue smoke seeped from the exhaust pipe, which ran underneath the black engine. After I was done putting on the shiny new helmet and goggles that my Dad had bought me, he would pick me up and place me right in front of him, between him and the gas tank, so I could hold on to the crossbar on the handlebars. Then as he let the aluminum clutch lever out easy and gradually twisted the throttle, we would speed off around the gate and down the dirt road behind the house.

The Moral Issues of Freenet and Online File Sharing :: Internet Technology Computers Essays

The Moral Issues of Freenet and Online File Sharing The internet today is a vast network that contains nearly limitless amounts of information and media. With this immense amount of data at our fingertips, the line between right and wrong has begun to blur. The illegal downloading of copyrighted material has exploded in recent years, but a larger issue looms over the current copyrighting frenzy. It is that of the preservation of free speech in cyberspace. Should the government be allowed to limit our access to "unsuitable content"? And to what degree? These are not easy questions to answer, nor should they be. Similar questions have been raised throughout history. Freenet is a program that has been developed to provide an answer to the aforementioned question with a definite no. The following essay will explain what Freenet is and how it fits into the free speech debate and future of the internet. In this essay I will discuss the following: †¢A quick history of free speech on the Internet †¢An explanation of Freenet †¢How Freenet functions †¢Freenet's role in the future progression of the digital age †¢The illegal usage of Freenet Free Speech and the Internet The first amendment to the constitution reads: "Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances." (Constitution) We as Americans have the right to speak our minds. We are able to criticize the government and voice our opinions in the form of voting and political debate. This is not only a right, it is vital for the survival of our country. The internet is no stranger to free speech debates. In early 1996 the Communications Decency Act was passed. This act prevented "indecent" and "patently offensive" content which included profanity and many works of classic literature that contained such material. No less than 6 months later, the CDA was ruled unconstitutional by the Supreme Court. In 1997 the Supreme Court granted the Internet full protection under the 1" amendm ent entitling it the same freedoms of print media. Two sides are now battling on a new front: the abuse of 1" amendment in cyber space through the exchange of illegal material. I will discuss this issue in more detail later.

Rhetorical Analysis of JFKs Inauguration Speech -- John Fitzgerald Ke

John Fitzgerald Kennedy delivered one of the most important American speeches after being sworn in as president on January 20, 1961. His inauguration speech was so influential that it seized the nation’s attention, and quotes from it are still clearly remembered by people today. It is considered one of the best speeches ever written and ever delivered. It presents a strong appeal to pathos, ethos, and logos and accomplishes what any speaker strives for – it speaks straight to the heart of the audience and inspires people. John F Kennedy was the 35th president of the United States and at 43 years old he was the youngest president to take office. Because of his youth, he stumbled upon much skepticism from his opposition and even a little from his supporters. Kennedy’s inauguration speech was so vital because he needed to make a quick and powerful first impression to America and to the entire world. The address was written to encourage American citizens to get involved with their country and with the issues of the time. This speech reassured the voters that they made the correct choice and informed the country that changes were on there way. The inaugural speech was arranged so that it flowed easily from start to finish. The first paragraph contains many uses of comparison and contrast. For example, â€Å"We observe today not a victory of a party but a celebration of freedom—symbolizing an end as well as a beginning—signifying a renewal as well as change†(Kennedy par 1). There are also examples of cause and effect in the speech. I believe that this is to be expected because of all the deliberations over war. Kennedy used these techniques to make it sound like it was our moral responsibility we should go to war. These are the two basic s... ...commitments and his plan. By reiterating common knowledge, Kennedy has his audience reflect on known fact in order to drive his message home. In conclusion, this speech was structured beautifully. Its use of figurative and expressive language makes it an unforgettable speech. Kennedy does a great job of using pathos, ethos, and logos to reiterate his commitment to the American public as well as discuss expected changes. Given the state of the world at the time of his inauguration, the decision to rely so heavily on pathos and ethos was a wise one which got the job done. His use of the rhetoric triangle effectively conveys Kennedy’s plan for America to not only her citizens, but to the world. Works Cited Kennedy, John F. â€Å"Inaugural Address.† Reading Literature And Writing Argument. Ed. Leah Jewell. Upper Saddle River, NJ: Pearson Education Inc, 2005. 622- 625.

How Has King Lear Held Its Appeal for a Modern Audience?

How does Shakespeare’s King Lear hold its appeal to a modern audience? King Lear, a play by William Shakespeare has held its appeal for modern audiences as it explores the universal ideas and timeless themes of Power and Loyalty communicated through characterisation, language techniques and representations that parallel the context of the time in which they are produced. In the opening scene of the ‘love test’ Lear is offering his kingdom to his daughters Goneril, Regan and Cordelia.Much havoc and arguing occurs, leaving Cordelia banished and Goneril and Regan in full control of the kingdom. The concept of power is present as Shakespeare examines the importance of relationships where a hierarchy is in order. After withdrawing himself as king, Lear’s eldest two daughters Goneril and Regan strip him of his supremacy and force him to reduce the number of knights in his service, demonstrating his loss of authority as a King and a man. Shakespeare uses the simil e comparison of Lear to animals to clearly depict his fading worth and power. O, reason not the need! Our basest beggars are in the poorest thing superfluous. Allow not nature more than nature needs, man’s life as cheap as beast’s†¦Ã¢â‚¬  The underlying theme of power is consistent throughout ‘King Lear’ and is also present in today’s society. Goneril and Regan believe that by possessing Lear’s kingdom they have power over everything, paralleling that of modern day society – materialism is power. The theme of loyalty is apparent in the ‘Storm scene’. Lear is demonstrated as a flawed individual whose arrogance has caused him to make mistakes.This scene acts as a catalyst, a turning point, as Shakespeare symbolises a ‘cleansing period’ for Lear. His diminishing sanity is represented through the personification of the storm â€Å"rumble thy bellyful; spit, fire, spout, rain! † Despite the harsh storm , Lear’s Fool stands with him in his period of despair and rage demonstrating his loyalty towards his king. This scene is the first time in which Lear reveals his true emotions, ones which Elizabethan and contemporary audiences can relate to.Shakespeare has presented the consequences of disloyalty, and the betrayal of fathers and siblings is an underlying theme. However, the loyalty of Cordelia to her father is maintained, if not strengthened throughout the entire play. â€Å"O my dear father, restoration hang thy medicine on my lips, and let this kiss repair those violent harms that my two sisters have in they reverence made. † The love that Cordelia holds for her father is symbolised through the gentle nature of her tone and language.The ‘reconciliation’ scene of Cordelia and Lear expresses the devotion felt by both father and daughter, as well as the connection they share when united emphasises the faith and unconditional love between them, despite prev ious disagreements. This element of the play is relevant to all audiences. Lear undergoes rapid character development and by the end of the play is able to recognise the more important, intangible aspects of life; a loving daughter and loyal friends.This is comparable to the lives of modern audiences as the important things in life are often taken for granted. Shakespeare’s King Lear offers timeless and universal themes of Power and Loyalty that are portrayed through differing literary and dramatic techniques. The character development of Lear also allows for the audience to connect and better understand the play as the transformation of a man unfolds, whose life is not dissimilar to one in contemporary society. These aspects of the play have allowed for King Lear to hold its appeal for audiences of the present and future.

Dead Man’s Path by Chinua Achebe Essay

Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The story is generally depicting the theme which is said to be modernity versus old. The old is characterized by the villagers which still continues doing their rituals and also it is characterized by the pathway (Nerdicity).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The new or modernity is characterized and depicted by the institution and the new headmasters who aimed for renewing almost all of the old staffs at the school (Nerdicity).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The institution, as depicted in the story as the explanation for the theme, tends the humanity of that generation to be liberated with regard to newer and or modern things (Nerdicity). They are also trying to liberate the villagers that the villager’s old beliefs and practices are wrong which includes the practice of their belief about the pathway (Nerdicity). Theme explanation   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The theme in the story is about Modern versus Old. It is said that Chinua Achebe came up to this theme based on how the new Nigerian thinks. The new Nigerian’s way of thinking explains their ideologies on beautifying gardens (Nerdicity).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In this theme as explained in the story, Michael Oli wanted a development at the institution abut the problem is; the villagers are a source of hindrance to his development plan for the school.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The theme is explaining how certain people wanted a more liberated and modernized society for a better living but still there are some who does not want to go with this modernization issue. They are contented following their old practices. The theme also explains how extinction of old practices including tradition and cultures because of the rapid development and its being imposed to the people.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The theme also explained that imposing new ideas to people who believes and appreciates old practices is a hard thing to do that will need your patience and understanding.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Imposing new is better for it will benefit a lot of aspects in life but it will be better if instead of making all things new, people can combine new and old instead that will be more effective for everyone as it won’t be a source for any conflict.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Example of new versus old is the modernity versus traditional.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It conveys the lesson which states that traditions should not be changed into new ones and it should also be not ignored.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The theme is said to be effective for people to realize that old beliefs are said to be influential and important so it should not be disregarded. Traditions are somehow an alternatives in teaching morals, it is said to be much more influential because there are lessons that people can learn through this (Cindy). About the theme   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The author created the theme because he wanted people to be informed and to realize that endorsing such modernity over traditional matter in a bad approach will create a negative consequence (LLC).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Chinua Achebe wanted to impose that when a certain person intends and tries to block a certain essential aspect of that person’s existence, the act could create or lead into a negative reaction and consequences (LLC). This is depicted when Michael Obi blocked the path where it is part of the villager’s important ritual in respect for their ancestors whenever someone dies.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The theme was generally made for people to see the negative impact of modernity to traditional activities. The impact in the story depicted through the theme is explaining that in order to convince people to accept certain ideologies, the one who imposes should also possess the characteristics that others would respect (LLC). This characteristic is important in order for other existence to accept the ideologies that a certain person imposes (LLC). Universal truth   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Indeed, the story expresses universal truth because people can’t deny the fact that there are really some people at any part of the world that endorses betterment in certain people but does it in a negative approach. People would be insulted through this kind of approach that provokes them to start a misunderstanding and conflict to each other.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   An example of this is when a certain person preaches something according to his views and beliefs. If a certain person imposed his ideologies and forced people to believe by threatening their lives or their own beliefs, the act will cause into major conflicts.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This statement is an example situation based on the theme of the story by Chinua Achebe.   Symbols used in the story   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In the story, there are a lot of instances that symbolizes the given theme. One of this is when Michael imposed the modernity by renewing almost all of the old professors in the school and changing them into new and younger ones (Classroom).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Michael could have imposed his aim of modernity through adding new teachers hence still allowing the old ones to perform their teaching in the school but he did the other way. Michael aimed to remove the villager’s right to practice their important rituals instead of respecting it (Classroom).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Michel did not respect the rituals and beliefs of the villagers hence he also disregarded what the priest advised him. Michael blocked the pathway to avoid the villagers from walking though it and he did it to prevent them from ruining the property (Classroom).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   By doing the certain act, Michael is said to have insulted the villager’s beliefs and ritual practice. He could have just let the villagers take that certain part and took another part to accomplish his project due to beautifying the school. Lastly is when Michael ignored what the villagers asked of him to be able to resolve the arising conflict. The villagers asked him to do a heavy sacrifice in order to conciliate his fault from the villager’s ancestors (Classroom).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This is implying the disrespect to someone’s beliefs. Instead of following what they asked of him, he ignored the idea and continued on imposing what he wanted. Symbols   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The school ground as the pathway, this symbolizes the tradition and beliefs of the villagers. It is explained in the story that it is a part of the villager’s ritual to take that certain path whenever someone dies.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The blocking of the pathway; this symbolizes the unacceptance and disrespect of Michael as the main character. He disrespected the villager’s practices which they’ve done always. Conclusion   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The author came up to the theme by implying his view on respecting one’s beliefs and traditions. If a certain person wants his ideologies to be accepted, he should impose it in a kind manner.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   If a certain person wants to succeed imposing his ideas, he then should also respect other’s ideologies to prevent things from leading into conflicts and negative reactions.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Author of the story in my opinion is aware that tradition might be forgotten because of the developments and liberations that the society imposes.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Achebe showed through his story about his respect to certain people’s beliefs even if it is not evidently true, thus it is everyone’s right to practice their cultural and traditional beliefs as long as it wont be a reason for other people’s oppression (Cindy).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This is what the theme implies through the story Dead Man’s Path by Chinua Achebe. Works Cited Cindy. â€Å"Dead Man’s Path.† 2007. Classroom, The Global. â€Å"Dead Men’s Path Chinua Achebe â€Å", 2006. LLC, Mega Essays. â€Å"Chinua Achebe, Dead Man’s Path.† 2007. Nerdicity. â€Å"Dead Man’s Path.† 2006.