Budget Proposal Assignment Example | Topics and Well Written Essays - 1000 words

Budget Proposal - Assignment Example Though the economy has witnessed decrease in unemployment, there is still a large proportion who has failed to find full time jobs. Corporate profits have risen dramatically, but the wage rate and income level has failed to witness the same growth. It should focus more on adding value to the rising middle class and create a hub for jobs. It should work for many and not for few. US should try to attract more high tech jobs for its middle class. A growing middle class is a key indicator of a growing economy. Bringing jobs will not solve the problem, but its people should be educated, trained and better equipped to meet the requirement of the jobs. This will not only improve the per capita income of US, but will also create high revenue for the government through large base of tax payers (Mankiw, 2008). They key areas that should be the main focus towards a balanced budget would include sectors like, infrastructure and development, education, clean energy, small business, manufacturing, health and defense. These are the critical areas of government expenditure that are to be increased while the other sectors should be decreased. The other sectors include justice, transportation, SSA, Science foundation, treasury, interior, veteran affairs, agriculture, etc. From the revenue the budgeted tax collection should be increased. The sources include income tax, corporate tax, social security tax, excise and customs. Estate and gift tax to be reduced. The specific target areas include the sectors that will help augment the revenue for the government and significantly reduce the budget deficit. Though it is totally not possible to eliminate the deficit in the short run, but it can be reduced to a sustainable level. All the sectors are critical to the growth of the economy, yet there are cert ain sectors as mentioned above that needs government aid to complement the vision of developing the middle class and creating jobs. Health and

Fulfilment of Obligations for a Contract

Fulfilment of Obligations for a Contract Jack’s purchase of â€Å"the machine† from Jim of Agricultural Supplies Ltd is one for a specific purpose. The contract with ASDA will no doubt reap substantial reward. The machine is a fundamental part of that agreement, as Jack cannot fulfill his obligations without it. The importance of the machine being able to produce vegetables that comply with the terms of the contract with ASDA was brought to the attention of Jim at the time the contract was entered into. The question of whether Jack can recover anything beyond the price of the machine after it fails to deliver will initially depend upon the interpretation of the exclusion clause. The contract specifically excludes liability for any consequential loss whatsoever. This would include the loss of profit to be suffered by Jack as a result of ASDA summarily terminating their agreement. Such terms are however subject to the Unfair Contract Terms Act 1977, and more specifically s. 3[1], and the test of reasonableness contained within s. 11. There is a standard requirement that the term is â€Å"fair and reasonable[2]† but what amounts to this will be a question of fact in each case. Not only will it look at the extent of what the clause is attempting to exclude, but also the bargaining position of the parties. As both are essentially acting â€Å"in the course of a business† there is a suggestion that there is an equal footing and the greater the equality, the more likely that an exclusion clause will be considered reasonable[3]. What is fair to infer from the facts of this case, is that Jack is not an experienced businessman with an understanding as to the operation of a clause that would exclude liability. He may well have noticed its presence, but requires firm clarification as to what he can actually recover in the event of a breach. It is Jim’s response that leads to the exclusion clause probably becoming unenforceable. The clause is attempting to limit the liability of Agricultural Supplies Ltd but Jim, a company Director contradicts this position and assures Jack that any consequential losses will be covered in the event of a breach. S 11(1) UCTA 1977 states that the term may be considered reasonable having regard to the circumstances known to, or in the contemplation of the parties when the contract was made. It would be harsh in this case to deny Jack the ability to rely upon Jim’s assurances. Certainly there is a strong argument that Jim’s statement will become a term of the con tract, overriding the earlier exclusion clause. It was the parties’ true intention and to allow the exclusion clause to stand would not only be unreasonable, but an inaccurate reflection of that intention[4]. Assuming therefore that the exclusion clause itself does not prevent a claim in principle for losses beyond the defective machine, we can consider the issue of lost profit arising from the agreement with ASDA. It has traditionally been the accepted practice of assessment of damages in the area of contract, that lost profit following a breach are subject to tests of causation and mitigation. While the general rule in contract law is to put the claimant in the same position as if those terms had been fulfilled[5], it is still necessary for the Court to assess such damages in monetary terms. In Jack’s situation he has an expectation interest which is defined as â€Å"the benefit [the claimant] expected to receive from the completion of the promised performance of the other party’s obligation, but which were in the event prevented by the breach of contract committed by [the defendant][6]†. The difficulty here is that while there is a definable loss i.e. the profit from the contract with ASDA, there is no knowing how long that contract would continue for or how much Jack would receive per annum. Where significant loss has been sustained, the Courts will look to the availabl e evidence to assess quantum[7]. But whether this alone would suffice is debatable. The difficulty is causation; to what extent was this breach of contract the effective or dominant cause of the loss[8]? The case of Headley v. Baxendale (1854)[9] laid down the rule regarding recovery of losses that were allegedly too remote. In modern terms it is stated to be: â€Å"A type or kind of loss is not too remote a consequence of a breach of contract is, at the time of contracting (and on the assumption that the parties actually foresaw the breach in question) it was within their reasonable contemplation as a not unlikely result of that breach[10]†. It would certainly appear therefore that such contemplation was well within the mind of both Jack and Jim at the time of entering into the contract. Indeed, Jack showed Jim a copy of the agreement with ASDA and his statement that Agricultural Supplies Ltd would â€Å"see to it that Jack is compensated for any loss he incurs† certainly seems to suggest an acceptance of the types of loss i.e. future profit, which Jack would now seek to recover. The recent judgment of the House of Lords in Transfield Shipping Inc v. Mercator Shipping Inc (The Achilleas) (2008)[11] has however thrown such assumptions wide open. This case concerned the hire of a ship for a certain period. The defendant failed to return the ship on time and as a result, the claimant lost a contract with a third party. While the defendant accepted that â€Å"in the trade† compensation would have to be paid, the disputed that they were liable for the loss of profit under the second contract. The arbitrators at first instance and the Court of Appeal[12] found for the claimant. The House of Lords however reversed that decision finding for the defendant. The issue of â€Å"assumption of responsibility† was at the forefront of the Lords’ considerations in this matter. While the defendant’s accepted that some losses would be sustained for which they may be liable, the Court felt that the particular kind of loss was not reasonably contemplated. As Lord Hope of Craighead stated[13]; â€Å"a party cannot be expected to assume responsibility for something that he cannot control and, because he does not know anything about it, cannot quantify. It is not enough for him to know in general and on open-ended terms that there is likely to be a follow-on [contract]† What has been established by the case is a second limb to the test in Headley v. Baxendale. A claimant will not necessarily recover losses that were not unlikely to occur in the usual course of things, if the defendant cannot reasonably be regarded as having assumed responsibility for losses of the particular kind suffered[14]. No longer can it be said that such losses were likely, probable or foreseeable alone, the particular type of loss must have been contemplated by the defendant and he nevertheless accepted the risk in the event of a breach. While this issue of a certain type of loss is not a new phenomenon[15], the combination with the test in Headley v. Baxendale has redressed the scope of recovery in contract cases and particularly the issue of remoteness of damage. Baroness Hale[16] has referred to this extension as â€Å"adding a novel dimension to the way in which the question of remoteness of damage in contract is to be answered†. What this case has done is establi sh a negligence type assessment for causation in contract. While the issue of remoteness, and whether the kind of loss was â€Å"not unlikely† to occur remains a question of fact, the issue of whether it was reasonable to assume the defendant accepted responsibility for that particular type of risk is a question in law[17]. Whether this will assist Jack is not clear. It has been suggested that the effect of The Achilleas upon Sale of Goods Act 1979 claims (as is Jack’s) may have relevance. S. 52(2) of the SGA 1979 states that; â€Å"The measure of damages is the estimated loss directly and naturally resulting, in the ordinary course of events, from the seller’s breach of contract†. If such loss of profit from the agreement with ASDA is to be â€Å"not unlikely† to occur, then Jack may have to establish that Jim assumed responsibility for that particular type of loss. In Chitty on Contracts[18] it is submitted that the House of Lords see their decision as a separate rule when applicable to sale of goods contracts. It should be noted that the facts of The Achilleas related to shipping contracts and the House noted that lack of case law considering this specific issue. While not limited to this area of law, the decision as opposed to other areas i.e. sale of goods, needs to be watched with trepidation. Ultimately there are reasonable prospects for Jack to secure damages beyond the cost of the machine. It can certainly be argued that Jim accepted the risk of the particular type when he was referred to the contract with ASDA. The loss of profit resulting from the termination of that agreement is not the only possible pecuniary disadvantage Jack could suffer i.e. damages claimed by ASDA, returned goods through poor quality etc. This coupled with the uncertainty as to the duration and net value of the contract makes quantum an almost impossible task. It should be noted that such losses have been recovered in Victoria Laundry (Windsor) v. Newman Industries (1949)[19], and more specifically for lost profit arising out of defective equipment under a contract of sale in H Parsons (Livestock) Ltd v. Uttley Ingham Co Ltd (1978)[20]. However the particular circumstances of Jack’s contract are quite unique, and the possible extension of the remoteness rule will not appear to be a help. BIBLIOGRAPHY Chitty on Contracts; Thirteenth Edition 2008, Sweet Maxwell Publishing Peel, E.; â€Å"Remoteness Revisited†, L.Q.R. 2009, 125(Jan), 6-12 Poole, J.; â€Å"Casebook on Contract Law†, Ninth Edition 2008, Oxford University Press McKendrick, E.; â€Å"Contract Law: Text Cases and Materials† Third Edition 2008, Oxford University Press Tamblyn, N; â€Å"Damages Under String Contracts for Sale of Goods†, J.B.L. 2009, 1, 1-14 Rose, F.; â€Å"Blackstone’s Statutes on Contract, Tort Restitution 2008-2009†, Nineteenth Edition 2008, Blackstone Press www.westlaw.co.uk – as accessed on 22nd December 2008 1 Footnotes [1] UCTA 1977 s. 3(1) â€Å"This section applies as between contracting parties where one of them deals†¦on the other’s written standard terms of business†; Chester Grosvenor Hotel Co Ltd v. Alfred McApline Management Ltd [1991] 56 Build LR 115 [2] UCTA 1977 s. 11(1) [3] Watford Electronics Ltd v. Sanderson CFL Ltd [2001] All ER (D) 290 CA [4] This section can be expanded upon to include additional cases on exclusion clauses in any text book. There is also an argument for rectification by mistake i.e. Joscelyne v. Nissen [1970] 2 QB 86 (CA) [5] Golden Strait Corp v. Nippon Yusen Kubishika Kaisha [2007] UKHL 12 [6] Chitty on Contracts: Thirteenth Edition, Volume I, at para 26-002 [7] Tai Hing Cotton Mill Ltd v. Kamsing Knitting Factory [1979] A.C. 91, 106. [8] Ibid fn 6 at para 26-032 [9] [1854] 9 Ex. 341 [10] Ibid fn 6 at para 26-054; see also Koufos v. C. Czarnikow Ltd (The Heron II) [1969] 1 A.C. 350 [11] [2008] UKHL 48 [12] [2007] Lloyd’s Rep 555 [13] Ibid fn 11 at para 36 [14] Ibid fn 6 at para 26-100A [15] Victoria Laundry (Windsor) v. Newman Industries [1949] 2 K.B. 528 [16] Ibid fn 11 at para 93 [17] Ibid at para 22 per Lord Hoffman [18] Ibid fn 6 at para 26-100G [19] Ibid fn 15 [20] [1978] Q.B. 791

Laertes and Polonius as Foils to Hamlet Essay -- GCSE Coursework Shake

Laertes and Polonius as Foils to Hamlet  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚        Ã‚  Ã‚   Foils are the minor characters in a play that aid in developing the more important characters. By using the similarities and differences between two characters, the audience can get a better understanding of that major character. In Hamlet, Shakespeare uses many foils to develop the major characters of his play. Two foils that Shakespeare used to develop Hamlet's character were Laertes and Polonius.      Ã‚  Ã‚  Ã‚  Ã‚   One of the foils important to the play is Laertes.   Although Laertes does not appear   often in the play, he brings much to the plot and to Hamlet's character. These two are similar in many ways. They both seem to be about the same age, are well educated, and gentleman. One main thing that they have in common is they both are seeking revenge for their father's deaths. Both of their fathers were unnecessarily killed. Hamlet's father was killed by his father's brother for the crown and his wife, and Hamlet killed Laertes' father over mistaken identity. It was the revenge of these two that made up the plot of the story. Because of Laertes, the two could finally fulfill their revenge in the battle at the end that killed both Hamlet and the new king. If Laertes had not challenged Hamlet, the king would have died by some other way; however, the king died by poisoning just as he had killed his brother.        Ã‚  Ã‚  Ã‚  Ã‚   Another similarity in the play is the fact that both Laertes and Hamlet died by the poisoned tip of the same sword. Laertes and Hamlet were the last two to die. This completed the circle of everyone that had been directly involved in the disgraceful scandal had died. [SS] The poison killed the King, Queen, Hamlet, and Laertes, Polonius was killed by Ha... ...of the foils Shakespeare used to develop Hamlet's character. The one that did the best in accomplishing this task was Laertes, though. Laertes and Hamlet had a common goal, and if it hadn't been for him[,] the story would have taken a totally different route. Polonius was a good foil in that he convinced everyone that Ophelia was the cause of Hamlet's madness. If he hadn't been Ophelia's father, this part of the story may not have been as effective.    Works Cited Bloom, Harold. Modern Critical Interpretations Of Hamlet. New York, NY: Chelsea House Publishers, 1986. Charney, Maurice. All of Shakespeare. New York, NY. Columbia University Press. 1993. Magill, Frank N. Masterplots. Englewood Cliffs, NJ, 1995. Shakespeare, William. Hamlet, Prince of Denmark. The Riverside Shakespeare. ED. G. Blakemore Evans. Boston: Haughton Mifflin Company, 1974.

Power of social norms

In our day of age, technology has influenced many aspects of our everyday lives. There is not a day where we cannot go without our phones, computers or television sets. If all of that were to be taken from us, most likely we would be in an uproar. Being exposed to such technological devices, we have become consumed with social media. Social media has definitely shaped the way we communicate, get Information and the way we Interpret things. For example, Just recently Mile Cyrus released a music video called Wrecking Ball. Mile Cyrus is known for her innocent Disney role,Hannah Montana, a young teen who is trying to live a normal life as she Juggles being a high school teen and her secret blonde wigged pop star career as Hannah Montana. However, when the music video Wrecking Ball came out, Mile traded her innocent, parent-friendly Image for a pixie-cut, red lipped and cropped attire. The video consisted of a naked Mile riding a steel giant ball destroying cement walls and licking a sle dge hammer. When the video was released, many were shocked to see this coming from the former Disney starlet. Some were disgusted by the nudity.Others loved the singer's video and thought It was a great Interpretation of the song. Either way, the video shattered the Vivo record for most watched music video and caused many to correctly. Mile Cyrus did something that many here In America are not so exposed to, she broke a personal appearance norm. In America, we are not exposed to such nudity; and if so, the content is usually censored. But we also, have to include the gender roles. If a male is nude, it mostly likely considered as funny, but if a female is nude, it is most likely considered taboo and gets labeled a slut.Once, Mile appeared fully due riding a giant steel ball; many labeled it as inappropriate and calling her names, such as slut. However, if you were to show this to people in Europe, they would not be bothered by it. In Europe, they are exposed to nudity; many would co nsider It as an art form. So why are people concerned with the imagery of the video rather than the meaning behind the song? It all has to with our culture and environment we are exposed to. Culture consists of language, the behavior and any aspects that surround you In that moment.It Influences the way you see and accept at things in society. Every culture has a norms and sanctions that are considered acceptable. Norms are appropriate behaviors based on specific values and sanctions are prizes or punishment you receive when you go against the norm (Carl 54). Once you go against the norm, you are deviant and going against the social order. â€Å"Winners are the good and the normal; Losers are the sick, the crazy, the evil†¦ † (Introduction to the Sociology of Deviance) Social Norms cover almost every aspect of the way we live.However, with standards and guidelines of behavior, it does lead to some pressure to conform (Social Norms, Sociology Norms, Basic Concepts of Soci ology Guide). We see people conform every day because they fear society will shun them. Conformity and social norms In society all have to do with past generations culturally transmitting their values to us and the social Institutions teaching us hidden curriculum (Carl 50, 94) For Instance, In school whenever we see the American flag, we Immediately put our right hand over our heart and say the pledge of allegiance.If we don't do it, the America. By not placing our right hand over our heart, we would be considered deviant towards America. (Introduction to the Sociology of Deviance) Growing up, cheers and parents teach us to be proud of your culture and nation. As you can see, both the nature and nurture aspects come into play when we react towards a norm either being â€Å"broken† or â€Å"obeyed†. To get a better understanding of breaking a norm, I had to experience what it was like to break a norm.My task was simple; I am to only speak Toga, a native Filipino langua ge. But the problem was who, where and when am I going to break my norm. Luckily, my friend Alyssa, who I have known for three years, wanted to meet with me for a day of catching up as we shop at varies malls, local boutiques and stores in the San Diego area. I only speak English to Alyssa. So I thought this would be the perfect time for me to break my norm. However, to really comprehend the power of norms in society, I decided to perform the task on strangers too.Now with my mission already planned out, all I had to do was put into action; I had to only speak in Toga to my friend, Alyssa and strangers I encounter during my one-day visit to San Diego. My experience in my norm breaking experiment, I realized the norm of speaking a language other than English, people react and look at you as if you were an alien. To be honest, I did expect people to react in this manner. However, I was blind sighted by the incident in the Anthropologist store. For me, growing up in a different country and traveling exposed me to the norms of different cultures.I find myself learning something new; that does not mean I conform to the behavior or lifestyle. But I accept norms that I am not familiar with and have an open mind. But not everyone is accepting of different cultures or lifestyles, they are not familiar with. A huge percent of people in any society would feel uncomfortable and try to steer clear to those that are different from what they are used to. Society tends to Judge and criticize things because it's to something they are used to or exposed to.We have all experienced or witnessed something that was different from the way we live or behave, so we feel uncomfortable in the situation. We can change that, every society should look with culturally relativistic perspective. We don't have to accept their behavior, but that does not mean, we should Judge the way someone acts or behaves in life. We have to be open-minded and make an effort, rather than be in an ethnocentric perspective (Carl 54). This world consist of diverse cultures and lifestyles, we all could learn from one another. Man has the ability to expand his knowledge.

Cameron Auto Parts Essay

Cameron Auto Parts was founded in 1965 in Canada by the Cameron family to seize opportunities created by the Auto Pact (APTA) of 1965 between the United States and Canada. The APTA allowed for tariff-free trade between the Big Three American automakers and parts suppliers and factories in both countries. The one caveat in the APTA to qualify for the zero-tariff trade was that companies must maintain assembly facilities on both sides of the border. Cameron Auto Parts specifically manufactured original equipment parts (OEM) such as small engine parts and accessories based upon design specs created by the Auto manufacturers and then sold these parts to the auto makers. Alex Cameron took the reins in 2001 and was immediately faced with a financial crisis. Sales in 2000 had dropped to $48 million and were only $18 million for the first six months of 2001. Cameron lost $2.5 million in 2000 and the same amount in the first six months of 2001. This decline was primarily due to declining auto sales of American cars and trucks and the increased presence of Japanese automakers. Market forces were driving the American firms to find ways to cut costs and modernize plants. Cameron used $10 million of its $12 million credit line to reinvest back into the firm by modernizing equipment and computer-assisted design and manufacturing systems. However, Cameron did not have its own design engineering team and relied on specs from the Big Three automakers for its products. This left Alex Cameron with an uneasy feeling that expansion into product design was essential for the long-term survival of the firm. In mid-2001, Cameron took the steps necessary to design and develop its own parts line. Cameron hired four design engineers and, by 2003, came up with a flexible coupling idea that would entice international buyers and not just the Big Three automakers. Cameron was then faced with the dilemma of how to market and sell the product. Projected sales of the new product in 2004 were between $35 and $40 million which was terrific but they weren’t sure they had the capacity to handle the production. They needed to decide if it was better to expand  current facilities, buy/ build a new facility, or license the fabrication of the product to outside companies. While on a vacation trip to Scotland, Alex went to check in on a local customer, McTaggart Supplies, Ltd, who convinced him that the flexible coupling product was in high demand in the U.K. and that more production was necessary to keep up with the demand. Alex decided at that meeting that Cameron would exclusively license the production of the flexible coupling to McTaggart in order to gain a stronger foothold in the U.K. for relatively little up-front investment. 1. Should Cameron have licensed McTaggart or continued to export? Cameron Auto Parts should license to McTaggart in the UK. It was one of Cameron’s key goals to penetrate foreign markets and the licensing agreement with McTaggart would be a swift way to begin executing this business strategy. McTaggart was in a superior position to penetrate the U.K. market due to a good cultural understanding and close proximity to potential clients. Once this business arrangement was proven successful, Cameron Auto Parts would be able to form similar agreements with other companies and expand to other foreign markets. McTaggart is an excellent licensee, as they are a reputable company in the U.K. with excellent credit, cost saving manufacturing practices, good market contacts, and 130 years of service in the business. They are also assuming most of the financial risk by paying Cameron Auto Parts the startup costs as well as a percentage of sales. Embarking on a licensing strategy would also eliminate the prohibitive cost of developing and maintaining a sales force in a foreign country that likely wouldn’t perform as well as a local company like McTaggart since customers had cultural ties and existing relationships with them. Additionally, orders can be filled more quickly as the product would be made locally reducing shipping costs and travel time. It was also a good decision for administrative and economic distance reasons. Since the product would be produced in the UK, it would not be subjected to excess cost of import duty, freight, insurance, or the value added tax. This would allow for the product to be sold at a more attractive price. Lastly, the value of the dollar fell during the original five year contract and the percentage of sales in pounds produced a higher dollar income for Cameron without changing the price of the products sold. The disadvantages of continuing to export are loss of  profits due to shipping costs, currency values, taxes and tariffs. The five year contract allows Cameron to evaluate the effectiveness of the licensing strategy and determine whether this is a profitable venture for the company. 2. Was Mc Taggart a good choice for licensee? Yes, McTaggart was a good choice as a licensee. They have all the tools necessary to successfully produce and sell the flexible couplings. †¢ McTaggart was already familiar with the product and had bought over U.S. $4,000 in the first four months in 2004. They had been able to sell the product as fast as it could be shipped and built a solid working relationship with Cameron as well as good credit. †¢ McTaggart has production experience that Cameron may benefit from and substantial room to increase production capacity. †¢ They have a solid reputation with great financial standing, excellent credit, and a capable sales staff to market and sell the product. †¢ They have manufacturing capacity and are willing to invest and develop the manufacturing capability to efficiently produce the flexible couplings. In addition, they have established a client base. 3. Was the royalty rate reasonable? A royalty rate is the money that must be paid to the owner of products (â€Å"the licensor†) from a buyer (â€Å"the licensee†). The amount of royalty fee is considered the fee for acquiring a patent or a copyright. In most businesses, a royalty fee applies when two or more companies have licensing agreements or sell the products in foreign countries. [i] In U.K., the normal rate of the royalty for licensing is around one and a half cent on each sale. However, Cameron Auto Parts was asking three per cent of sales from McTaggart. Although it was dropped down to 2 percent with a 5 year contract after negotiations, it is still higher than the normal rate. This seems reasonable as Mc Taggart will save a considerable amount of importation expense and will be able to sell the products at a lower rate than they can by importing. Cameron will have established an ongoing royalty income without incurring the overhead cost of production and sales expense. Cameron Auto Parts asks a higher royalty rate than normal rate because the company helps McTaggart choose equipment and provides training of operation  and production. Although McTaggart would like to pay these services separately, Cameron Auto Parts points out the benefits of getting services to keep higher royalty rate. With this five-year agreement, the royalty rate of two per cent is ensured in the first five years, but it will be down to one and a half per cent when the techniques of choosing equipment and operation have been acquired by McTaggart after five years. In conclusion, the royalty rate is reasonable for both parties involved. Cameron Auto Parts was able to enter the U.K. market expeditiously through McTaggart’s sales force, cut down on lead-times, save on duties, freight, and insurance and not be subject to currency fluctuations. McTaggart was able to sell a product already in demand, obtain training, focus on increasing sales and gain valuable insight into Cameron’s manufacturing process. Both companies would benefit from the shared knowledge they could provide each other, thus make the licensing agreement valuable for everyone involved. 4. What about the alternatives to licensing? The alternative to licensing would be to continue production and sell directly to McTaggart and other customers. This would involve dedicating a certain amount of production floor space to a market that is culturally and geographically distant and unpredictable. There is risk involved as the production space ties up cash flow and is not certain to produce profit. Travel expense would be incurred as company representatives would have to travel often to the U.K. in order to resolve issues or sell products. The sales side expense would be higher as well. More sales people would have to be employed to serve that region. They would either have to travel often or be based there and paid in pounds, which are currently stronger than the dollar. Instead of receiving a check from one contact that represents all sales for the whole area, Cameron would have to maintain relationships with various customers, which requires personalized attention to each and exposes him to having to perform collections and write off bad debt. Since unit production costs were estimated to decline 20% as annual sales climbed from $20 million to $100 million and Andy felt that the $20 million  mark was easily obtainable in the coming year, the continued value of exporting to Europe would have grown along with the European market. Looking at the pricing index, we can see that importing to Europe results in a cost of 113 to the importer. Since Cameron Auto Parts sell the flexible couplings at the same price to domestic and foreign distributors, licensing is an effective strategy to penetrate the European market while eliminating import and other logistical costs. Cameron Auto Parts would benefit most from a licensing agreement with McTaggart Supplies Ltd. Other options exist besides exporting or licensing such as a joint venture / wholly-owned subsidiary, selling through an agent, or selling through a distributor. Benefits to these strategies include reduced manufacturing cost, higher sales volume, and better market penetration and in some cases shared risk. The drawbacks to these methods include loss of price control, unpredictable sales volume, and loss of profits. [ii] Case Update Cameron Auto Parts enjoyed rapid growth during the 2004-2005. In 2004, the company undertook a major plant expansion for $10 million, adding 200,000 square feet to the company’s production capacity. Royalties from McTaggart during the first year of the licensing agreement were  £20,000; this grew to and  £100,000 the following year. High overall profitability left Cameron in a strong financial position in 2006. In 2006, Cameron was presented with an opportunity to purchase a 40 percent interest in Michelard & Cie., a family-owned distributor organization in France, which would allow Cameron to break into the continental European countries. Cameron agreed to the deal for $4 million and a royalty of 4 percent on sales of all flexible couplings. The deal enraged McTaggart, who had been selling flexible couplings in Europe and would now be competing with Michelard. Partly to appease McTaggart, Cameron agreed to a proposed joint venture in Australia. McTaggart would own 60 percent of the plant and be responsible for managing the venture.  According to McTaggart, local assembly in Australia could triple volume of current sales to around  £10 million. An investment of  £2 million could make around  £400,000 a year after Australian taxes while avoiding tariffs imposed on shipping finished products. This agreement would also position the firms to benefit from Australia’s free trade agreement with New Zealand. [iii] Cameron Auto Parts is very likely a pseudonym for Fernco, Inc., a flexible coupling manufacturer based outside of Detroit with a very similar history to that of Cameron Auto Parts. Fernco, Inc. is lead by Chris Cooper who, like Alex Cameron, took over the company from his father after graduating from Michigan business school. In addition to manufacturing facilities in Canada, the U.K., Australia and Germany, Fernco has expanded distribution to the E.U, New Zealand, Mexico, Puerto Rico, and China. [iv] ———————– [i] â€Å"Valuation Resource†Royalty Rates and License Fees.† Retrieved June 29, 2011 from < http://www.crucial-systems.com/dmbr/Mechanical_Royalties> â€Å"Mechanical Royalties.† Time. 05 December 2004. Retrieved June 29, 2011 from < http://www.crucial-systems.com/dmbr/Mechanical_Royalties> [ii] â€Å"Use These Top Five Strategies for Selling in International Markets.† Retrieved July 1, 2011 from [iii] Beamish, Paul and Crookell, Harold. â€Å"Cameron Auto Parts (B) – Revised.† Richard Ivey School of Business. University of Western Ontario. Jan 10, 2006. [iv] Ferno Company Website. Retrieved July 1, 2011 from . ———————– It is best NOT to start with a recommendation. I would first discuss the pros and cons of the issue on hand Cameron can simply do what it has been doing: Exporting. It is important that you should show licensing would be superior to exporting in order to advocate licensing These are good points. You realize the resources and capabilities of Cameron are limited. That is also a good point but that point supports the â€Å"exporting† option. There are other options as well: Joint Venture (JV) and foreign direct investment (FDI) are others to be considered. Take a look at the posted answers, especially, slide # 5 where a table lists pros and cons of each option in terms of various resource based factors. I must indicate my preference for such tabular presentations. They are simple, neat and to the point. All of your points are good. But they are one-sided. I am ALWAYS interested in a â€Å"balanced† analysis detailing not only points that support your perspective but also counter perspective. Please see the posted answers for such a perspective There is NO precise way of determining the royalty rate. Please see the posted answers for some guidance Not sure I understand this last point. Cameron is an Exporter. Why would they worry about import costs? Please take a look at the posted slides for this question. Good update. There are 2 things I suggest to improve your analysis: 1. Provide a balanced perspective. Nothing in this class is a clear pro or con. Every issue has both pros and cons. Both need to be studied carefully. 2. Incorporate other assigned readings into your analysis to provide evidence of learning. Some of the assigned readings could have easily been cited to support your viewpoint.

Essay on Modernity and the Spaces of Femininity

Essay on Modernity and the Spaces of Femininity Essay on Modernity and the Spaces of Femininity Essay on Modernity and the Spaces of Femininity  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In the article Modernity and the Spaces of Femininity written by Griselda Pollock, there is much important information on the role of women in the construction of modernism. According to the author, â€Å"modernity is presented as a far more than a sense of being â€Å"up to date.†1 The spaces of femininity take a special place in the representation of modernism in art. Modernity deals both with male and female sexuality, but there is a close relationship between modernism, modernity and sexuality. Griselda Pollock is focused on the analysis of the art pieces, which reflect the use of different spaces to place females for the proper art analysis. There are several important arguments made by the author of the article in relation to the role of the spaces of femininity in modernism and modernity.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   First, the author states that â€Å"sexuality, modernism or modernity cannot function as given categories to which we add women.†2 From the masculine point of view, women are presented as the other because of social difference that plays an important role in gender relations. Artists use different dimensions of space. For example, they use â€Å"dining rooms, drawing rooms, bedrooms, balconies/verandas, private gardens.†3  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Second, the author states that â€Å"femininity is not the natural condition of female persons.† 4 Women are represented as a sign or a confection of fantasies. Artists use female images to highlight the role of female identity in the assessment of male superiority.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Third, Griselda Pollock argues that â€Å"femininity in its class-specific forms is maintained by the polarity virgin/whore which is mystifying representation of the economic exchanges in the patriarchal kinship system.†5 This argument means that the money and property influence human relations, especially marriage relations. As a result, it is necessary to assess femininity as the ideology of female sexuality.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Fourth, the author states that the spaces of femininity have a strong impact on women’s lives as they reflect the roles of women, their status and the effects of their sexuality.In addition, the author uses various types of evidence to support his arguments. He refers not only to the works of art, such as paintings of famous artists, but also to literary pieces, such as publications, essays and poems. For example, the author uses a wide range of art pieces, including The Loge by Renoir, The First Outing by Renoir, At the Opera by Mary Cassatt, A Bar at the Folies-Bergere by Manet, Women Bathing by Cassatt, and many other art pieces. In addition, he uses Baudelaire’s essay â€Å"Women and Prostitutes† to describe femininity as the natural cond ition of women. The author pays due attention to the descriptions of urban spaces, which help to better understand the notion of women in modernity. In addition, the author believes that Baudelaire represents Paris as â€Å"the city of women.†6 The author also refers to the poem â€Å"A Une Passante† by Baudelaire to support his arguments about femininity and sexuality of women. Moreover, the author uses Mary Kelly’s article â€Å"Desiring Images/Imaging Desire† to address the issue of the spaces of femininity.Moreover, the arguments are constructed based on the use of evidence in the article. The author supports his arguments using long discussions which help the reader to better understand the key message. In other words, the arguments are constructed by the author based on his own experiences and feelings, which he shares with the reader. Griselda Pollock adds his own attitudes toward the issues discussed in his article. In general, the article is wort h reading and analyzing.

Neo-liberalism and Keynesianism essays

Neo-liberalism and Keynesianism essays It is often quipped that economists base many of their theories on assumptions. The old joke is that should an economist be stranded on a desert island, he will merely assume that a boat is available and quickly depart from the island. Indeed, whilst analytically comparing Keynesian and neo-liberal economics, it seems that economists assume that every person that peruses their journal articles has an extensive and exhaustive knowledge of macroeconomics. Thus, the danger for an enquiry such as this to degenerate into a fruitless analysis of finer points in economic theory can become apparent. For that reason, these two economic theories will be examined and analysed in the broadest possible terms. The work of the British economist, John Maynard Keynes, provides the basis for the Keynesian system. During the early 1920s and 1930s, there was widespread unemployment in Britain, the causes of which were extensively debated and analysed . Having attended the Paris Conference at the end of World War I as the principal representative of the British Treasury and deputy for the chancellor of the Exchequer on the Supreme Economic Council, Keynes was a prominent figure in this debate . Following the Great Depression in 1929, unemployment levels across the globe rocketed, with US unemployment reaching 26% in 1932 . In his book, The General Theory of Employment, Interest and Money, Keynes postulated his theory regarding the relationship between high unemployment and the deficiency in aggregate demand . Aggregate demand is the total demand for all goods and services by all buying sectors within an economy . Essentially, Keynes argued that the unemployment apparent in the United States and Britain arose as a result of a deficiency in aggregate demand, which was low because of inadequate demand for investment . In order to remedy this situation, Keynes suggested that government spending was the answer . The logic behind this is reasonably simpl...