U.S Response to Terrorism Research Paper Example | Topics and Well Written Essays - 1500 words

U.S Response to Terrorism - Research Paper Example In addition, doing a research about this subject will give me a chance to expand my knowledge and be up to date of the current events in the global environment. By working on this paper, my primary goal is to find better ways of defining and dealing with terrorism. This research report provides useful information about Terrorism where it discusses different ways of handling terrorist events, such as Boston booming. The research report consists of three major subtitles, created to engage the audiences and give a general idea of the content of each body paragraph. In the introduction, there will be a gnarl description and history of terrorism followed by the threats of domestic and international terrorism. Last but not least, I will provide some facts about U.S policy response to any terrorist threats followed by how I think they should response to these threats. My only hope after completing this report, the audience would have a better understanding of terrorism and realize how the w orld would be more peaceful if we used different strategies in dealing with terrorist threats. Sincerely, Aziz Almughyirah Aziz Almughyirah Table of Contents Table of Figures iv Abstract v INTRODUCTION 1 Description and History 1 Statement of Purpose 2 Target Audience 2 THE THREAT OF TERRORISM 2 Domestic vs. International 2 U.S. POLICY RESPONSE 3 Boston Booming 3 International Relations 3 DIFFERENT POINT OF VIEW 4 CONCLUSION 5 WORKS CITED Abstract Terrorism is a terminology that has being around since the existence of our kind. We as humans created terrorism from our shameful historical events where we failed to live in peace and decided to play the dominance role over each other. We sow the seed of fear in our souls, which became a barrier against our desire of peace. Our fears and doubts of others intents created an aggressive reaction against any threat or belief that could challenge our countries or its interests. Then, we apply direct or indirect pressure on the source of threa t, which create a fertile environment for many terrorist acts in lieu of eliminating the threat. These terrorist acts usually associated with four vectors of action, which are political, psychological, violent and deliberate. The main aspect of most terrorist acts is concentrated on political goals. When a society experiences some form of injustice for a long period of time where all efforts to bring justice are demolished, some form of violence starts to cut its way through in this oppressed society. If the concerned party does not take immediate action for the quest of reform, the violence could escalate to reach the political authority. The escalation of the situation can be extremely dangerous where it becomes out of control and terrorist acts trying to take the lead. Here is where the situation takes the opposite direction and different tactics. At that time, the terrorist groups work hardly to harness all the circumstances to their benefit where they support the insurgency and pave the way for guerrilla warfare. These terrorists would apply whatever it takes from offensive strategies, defensive measures and terrorist threats, which can have a severe psychological impact over that society or the region as whole for the purpose of achieving terrorism objectives. INTRODUCTION Description and History The idea of terrorism has been around since the creation of our kind where nations used to terrorize each

Students are required to produce a report on information systems Assignment

Students are required to produce a report on information systems - Assignment Example There are various categories of information systems and each category contains particular kinds of information systems for instance management information systems and decision support systems. At the present, the success of an organization completely depends on the effectiveness of an information system. This report discusses the role of information systems in today’s ever-increasing competitive business environment. The basic purpose of this research is to show what role information systems play in the success of an organization and what the future of information systems is. Without a doubt, this era is considered as the era of information technology (IT), where only those business organizations get the success that make use of information technology more effectively than their competitors. Additionally, in order to survive in this ever-increasing competitive business world designing and implementing information systems those produce accurate data and information on the subject of marketplace understanding, customers and competitive capacity. The basic objectives that business organizations want to achieve through the development and implementation of these modern technology based information systems include the overall corporate performance and effective and efficient handling of business data (Turban et al., 2005; Laudon & Laudon, 2005). This report will discuss how information systems are playing a significant role in the successful execution of business operations. This report will also discuss some of the successful examples of information systemsà ¢â‚¬â„¢ success. In their book (Turban et al., 2005, p.18) define an information system as a system which collects, processes, stores, evaluates, and distributes information in order to carry out a specific task. Additionally, the nature of tasks varies from department to department. For

Braswell v. United States, 487 U.S. 99 (1988) Essay

Braswell v. United States, 487 U.S. 99 (1988) - Essay Example The courts however use the doctrine to deviate from the limited liability concepts in corporate organization to hold people responsible for action that target selfish interests. The doctrine of piercing the corporate veil is a corollary to the alter ego doctrine and involves breaching of the separate legal entity of a corporation to hold shareholders liable for actions that identify abuse of responsibility. In pronouncing personal liability of a shareholder, a court is said to have pierced the veil (Weil, Lentz, & Hoffman, 2012). The alter ego doctrine and the doctrine of piercing corporate veil are therefore concepts for equitable remedy that seek to protect innocent victims from unethical practices by shareholders, employees, or directors of corporate organizations, for personal gain. The alter ego doctrine establishes deviation from the limited liability concept of corporate organizations and the doctrine of piercing corporate veil is an implementation of the alter

The Causes Of The Spanish Civil War History Essay

The Causes Of The Spanish Civil War History Essay The Spanish civil war is frequently remembered as a crucial and important moment in the history of Spanish people. To be possible to understand how thousands of persons were killed during this war, it must be ask why the Spanish civil war broke out in first place. In fact, there are five main reasons or causes (fig.1) which almost simultaneously led to the civil war in Spain in 1936. Before the Spanish civil war Spain was ruled by the king but due the great depression that drove the country into an economic collapse and massive unemployment in Spain and as a result the king was forced to abdicate on 14 April 1931 and Spain becomes a republic. The new republic emerges and immediately faced a number of major problems due the current circumstances: Two important regions in Spain wanted independence Catalonia and the Basque region. Had their requests been successful, it would have lead to the breakup of Spain. The Roman Catholic Church was hostile to the republic and the republic was hostile to the highly influential Roman Catholic Church. The government believed that the army had too much say in politics and determined to reduce its influence. Spain was primarily an agricultural nation and the 1930s depression had hit prices for crops. Prime exports such as olive oil and wine fell in value and previously used agricultural land fell into disuse. The little industry that Spain had was also hit by the Depression. Iron and steel were especially hit as no one had the money to pay for the products. Iron production fell by 33% and steel by 50%. Unemployment in both agriculture and industry rose and those in work had to put up with a cut in wages as the economy struggled to survive the Depression. The Republic faced losing the support of those whose support it desperately needed the working class. (http://www.historylearningsite.co.uk/causes_spanish_civil_war.htm) There are several versions or way to tell about the Spanish civil war however this essay will focus only in the causes of the Spanish civil war and how theses causes had led to the Spanish civil war. Figure1: The main five causes of the Spanish civil war (http://www.scribd.com/doc/2530517/Causes-of-the-Spanish-Civil-War-Conclusion) The main causes for the beginning of the Spanish Civil War and why these causes had lead Spain into the Spanish civil war The Political Situation in Spain (1931 to 1936). Disparate most of the other countries of Western Europe at that time, the Spain have never completed its revolution. Significant economic and social sectors of the country remained under the control of the feudal classes. In other hand the weak and vacillating bourgeoisie was unsuccessful in take effective measures to insure social and economical progress while the economic and political privileges of the dominant classes were left intact. As a result of this the progress and development of some sectors were suppressed during the 19th century until the situation of 1931. On April 13 of 1931 unsolvable contradictions between the financial, landowning and the popular forces reached the point of rupture and the king was forced to abdicate giving place to the Second Republic. Throughout the year 1932 the working class was divided into social democracy and anarchist tendencies. The communist Party was not sufficiently strong to assert its leadership of the labour movement. (http://www.mltranslations.org/Spain/civilwar.htm) In 1933, in response to the actual situation, during two years, the government unleashed a severe campaign of repression and terror known as the Bienio Negro. Furthermore, in October 1934 the formation of the Popular Front was begun with an extensive popular uprising against the government, especially in Asturias, Madrid and Barcelona (see fig. 2). The formation of the Popular Front had strong Communist support and participation. On 15th January 1936, Manuel Azaà ±a helped to establish a coalition of parties on the political left to fight the national elections taking place on following month. This included the Socialist Party (PSOE), Communist Party (PCE) and the Republican Union Party. The Popular Front, as the coalition became known, advocated the restoration of Catalan autonomy, amnesty for political prisoners, agrarian reform, an end to political blacklists and the payment of damages for property owners who suffered during the revolt of 1934. The Anarchists refused to support the coalition and instead urged people not to vote. (http://www.spartacus.schoolnet.co.uk/SPelections.htm) In the elections of 1936, the forces of reaction suffered a devastating defeat mainly because its management was weak and vacillating. However, its fatal mistake was to ignore the repeated warnings of the Communist Party in honour the election agreement, the reaction to defeat was not taken quietly. Therefore when Franco attacked on July 18 of 1936, the country was completely unprepared for the attack and the civil war begun. Regional situation (1936 -1939) The regional situation begun much before 1936 however the situation stars to intensify violently in 1921when an army was sent to Spanish Morocco to bring down a rebellion, critics said that was a massacre and that just emphasise how incompetent Spains government was. In the following years, Spain people experienced a new regime when King Alfonso agreed that General Primo de Rivera should take control of Spain. He ruled as a military dictator until 1930. Riveras approach to leadership was fully supported by Alfonso. However, Rivera did not display the classic features of a dictator. He introduced public works schemes building roads and irrigating the land. Industrial production increased by three times from 1923 to1930. Rivera also ended the rebellion in Morocco in 1925. (http://www.lacolumna.org.uk/article_asturian%20uprising.htm) Just after the morocco incident, in 1934the northern province of Asturias arose (Popular Front), not against progress, but for it and against the newly elected right wing government. The Asturias revolt was of enormous significance to the Spanish people. In the first place, it showed the capitalists and land holders that the people were not going to wait further but were going to divide the land and control their jobs. In the second place the Asturias revolt taught the people that to win they would have to expel the government and perform their own laws and traditions. In the third place combating the government make the workers and toilers understand the value of unity in action and the meaning of revolution also gave them great experiences in the art of civil war. The defeat of the workers forced the revolutionary identities to take to parliamentary activity in the next election. Anyway, Asturias was at the time a region with great potential for progress. In fact, Asturias was among the most industrialised areas of Spain in the 1930s just like Catalonia and Basque (see fig.2) which wanted their independence because of the diversity of employment in Asturias, the traditional competitive unions (CNT National Confederation of Labour and the UGT General Union of Employers), represented members in the industries, agriculture and service sectors. They were prepared when the crisis came. Hence, the present government could not allow the country to split out by giving them the independence, these provinces were actually essential for the country progress and development as a whole taking into consideration its industrialization and geographic location, see map below . http://www.lacolumna.org.uk/article_asturian%20uprising.htm In summary such regions were more advanced organizationally and industrially comparing with the rest of the country therefore they wanted the independence not just because of its socio-economic advantage but also to keep their traditions such as benefits (reform), language and habits. Later, the traditional language was prohibited in those acts involving the public administration or the mass media, being only tolerated at some folkloric or clerical activities but in other hand the most important reason was that the people in these regions wanted make themselves free of the oppression and incompetency of the present government and this in fact contributed considerably for the Spanish civil war broke out in 1936. Figure 2: The Spanish map showing the locations of Asturias, Catalonia, and Basque just before the war in 1936 (Frances Lannon, Page 10) Socio-economic situation Not hindering the fact that Spain were already in the middle of political and regional crisis when the World Wide Recession reached Spain the country was upside down, World Wide Recession had led to a dramatic cut in the demand for coal and to reduce costs the mine owners have reduced the wages and employees. Simultaneously, the National Federation of Farm Workers was cut in the agrarian reform and as result became involved in a bloody strike in June 1934. The Civil Guard had been called in to deal with strikes in industrial areas in May and September of the same year. On 1st September an attack on a Socialist Womens meeting by the Civil Guard saw 6 people killed. All this was boiling away and by October the region was ready for revolt. The election of a right wing government and their hostility in relation to reforms was the final straw. (http://www.lacolumna.org.uk/article_asturian%20uprising.htm) The liberal-left alliance which has ruled the first Republican government collapsed. This let in a right wing coalition which included ministers from the extreme CEDA (Confederatià ³n Espanola de Derechas Autà ³nomas) party. On the 3rd October, CEDAs assumption of the Agriculture, Labour and Justice Ministries seemed to point in Fascism by legal means, as elections had done in Germany and Austria. Across Spain attempts at a General Strike faltered and failed. http://www.lacolumna.org.uk/article_asturian%20uprising.htm The historic privileges of the Roman Catholic Church were reduced and Priests are now paid by the Roman Catholic Churchs chest. The government and the Roman Catholic Church were made two separate entities which should be like that since the beginning. Religious education in schools was stopped. Many army officers were made to retire early, the wages of those who worked in industry were increased but they were to be paid by the owners of those industries not by the government. Industries had to deal with the lack of energy resources and the weakness of the domestic Spanish market. They were helped out by protectionist policies, which reduced the competition from foreign products. As in so much of Europe, the popular classes were moulded into an industrial proletariat, living and working in inhuman conditions. (http://www.mltranslations.org/Spain/civilwar.htm) Due to all this circumstances the socio-economic situation could be highlighted as one of the main factors that contribute for beginning of the Spanish civil war, the lack of jobs, the poverty, the political regime and the governments abuse of power let the people more susceptive to create a revolt. Religious situation Accià ³n Nacional traced its ideological lineage to the social Catholic movements initiated in the late nineteenth century by Pope Leo XIII. Originally conceptualized in the Rerum Novarum of 1891, social Catholicism presented itself as an alternative to Socialism, arguing for the peaceful coexistence of capital and labour. It argued in favour of social reforms but rejected class struggle and collectivization in favour of social justice and the extension of property ownership, explaining that cooperation more effectively sustained workers rights. The Catholic political intervention make the social Catholicism became the basis for Catholic movements throughout Europe, most notably in France, Germany, Belgium, and Italy, (Leo XIII, Rerum Novarum, 1891). Azaà ±a believed that the Catholic Church was responsible for Spains backwardness. He defended the elimination of special privileges for the Church on the grounds that Spain had ceased to be Catholic. Azaà ±a was criticized by the Catholic Church for not doing more to stop the burning of religious buildings in May 1931. He controversially remarked that burning of all the convents in Spain was not worth the life of a single Republican. The establishment of the Second Republic 1931 several reforms suggested the loss of wealth and privilege for the wealthy, the church and the army. Example: Agrarian Law 1932 allowed the distribution of all unworked estates over 56 acres to the peasantry; The church and the State was separated, the Jesuit order was expelled (and its assets expropriated), divorce was legalized etc.à ¢Ã¢â€š ¬Ã‚ ¦; In the Army 40% of the officer corps was retired, republican officers were appointed and soldiers were now liable to civil law (not as before only military law!). The progressive alliance of Republicans and Socialists were in power 1931 until 1933 when they were replaced by a more conservative government. CEDA (Confederatià ³n Espanola de Derechas Autonomas). CEDA had been established as a reaction to the Republican policies this was the united right. The governments between 1933 and February 1936 tried to slow down and erode the advances that been made the previous years Military situation The victory of fascism in Spain has for the present time blocked the march to socialism. In making this critique, however, we do not mean to demean its great accomplishments. For after all is said and done, the Communist Party of Spain was the soul of the war, the most heroic and self-sacrificing of all the political parties involved. Without its leadership and support the people of Spain would have been crushed in a few weeks and would not have been able to inflict such heavy losses on the fascists. Mao Tsetung has shown that the fact that objective conditions are right does not automatically insure victory. What is needed in addition is the conscious activity of man that is, how the war is directed and carried out. Our national war against fascism was by nature a just war. The Popular Front enjoyed the overwhelming support of the popular masses. Although the international situation was difficult, never has there been such a display of solidarity with any cause. And yet the war was not won. Hence, the logical conclusion is that the conscious activity of the Party was misdirected; that it did not know the proper way to carry on the war. The government tried to attack those it deemed as having too many privileges in society. But by doing this it angered all those sectors in society that had the potential to fight back the military, industrialists, land owners and the Roman Catholic Church. These four (potentially very powerful bodies) were unwilling to support the republican government in Madrid. They were also aware that there were countries in Europe that would be willing to give support to their plight as many nations in Europe were scared of communism and Stalins Russia. Fascist Italy under Mussolini would be an obvious ally as would Germany once Hitler had got power in January 1933. In January 1932, a number of army officers tried to overthrow the government lead by Manuel Azana, the prime minister. The attempt was unsuccessful as the army, for now, was loyal to the government after all, it had won the elections fairly and, therefore, had legitimacy. However, a new political party was formed called the Ceda. This was a right wing party dedicated to protecting the authority of the Roman Catholic Church and landlords. The government of Azana, having lost support from the right, also lost support from the left. Two powerful left wing political parties, the anarchists and syndicalists (powerful trade union groups), felt that Azanas government was too middle of the road. Both wanted a more communistic state and the overthrow of capitalism. Above all, Azana was despised for forming a political union with the middle ground in Spains political life. He was deemed to have betrayed the working class. The extreme left organised strikes and riots in an effort to destabilise the government of Azana. Matters came to a head when in January 1933, 25 people were killed by government troops who were attempting to catch some anarchists near Cadiz. This lost the government a great deal of support among the working class and the socialists withdrew their support from the government. Azana resigned as prime minister and elections were called for November 1933. In this election, the right wing won a majority of support and the largest party in the parliament (known as the Cortes), was the Ceda lead by Gil Robles. The new right wing government immediately over-turned all of the changes brought in by the Azana government. This angered many but especially the Catalans who had their privileges withdrawn. This was a serious error of judgement as the Catalans and Basques had supported the government in the elections. The way ahead for Robles became clear to many an attack on the left wing parties of Spain. It forced the many parties of the left to come together to form the Popular Front. They organised strikes, riots and took part in acts of violence such as derailing main line trains. In 1934 there was a general strike. Coal miners in the Asturias went on strike but were ruthlessly put down by the army lead by General Franco. Spain appeared to be heading for all out chaos. In a last minute attempt to avoid serious trouble, a general election was called for February 1936. In this election, the Popular Front won and Azana, once again became prime minister. However, the government of the Popular Front was a farce after the socialists withdrew their support from it; more and more public disturbances occurred and the government had clearly lost control of Spain. In July 1936, a leading right wing politician, Sotelo, was murdered and the right wing politicians and their supporters believed that they were now in serious danger. They wanted to put their faith in a military dictatorship. The military had, in fact, already made preparations for a takeover of Spain. General Franco assumed control of the military. He took control of Spanish Morocco after overthrowing the civilian government there. His next target was to invade mainland Spain, establish a military government there and rid the country of all those involved in left wing politics. The left would have to fight for survival. The civil war started in July 1936. http://www.historylearningsite.co.uk/causes_spanish_civil_war.htm The emergence and ideological characteristics of Basque and Catalan nationalism in late nineteenth- and early twentieth-century Spain are a dramatic expression of conflict between modernity and tradition in the ethnically heterogeneous Spanish state. Confirming Nairs theory of peripheral nationalism, uneven development in Spain during the nineteenth century overlapped with spatially delimited ethnic communities, Catalans and Basques, thus enhancing their ethnic identity and facilitating the expression of class conflict in nationalist terms. However, the social bases and the ideologies of peripheral nationalism in each region eventually came to reflect the different patterns of development that they experienced and the relative economic power of their capitalist à ©lites. These structural factors shaped the Basque and Catalan nationalist movements through their influence on class conflict and class alliances within the Basque Country and Catalonia, as well as conflict and alliances b etween these classes and the Spanish state. Of course, differences between Basque and Catalan nationalism cannot be explained in purely structural terms. The developmental factors I have outlined in this article helped to reproduce longer-term cultural and economic processes, which had progressively defined the cultural identity of the upper classes in Catalonia and the Basque Country. Describing and explaining this process, however, exceeds the objectives set for this article. This comparison of Basque and Catalan nationalism shows that overdevelopment does not necessarily lead to bourgeois or other pro industrialization nationalistic ideologies. In particular he Basque case illustrates that, as long as the leading classes of overdeveloped regions are able to influence state political and economic decisions, they will refrain from the formulation of nationalist programs. Moreover, the Basque case shows that in the analysis of peripheral nationalism, scholars should focus simultaneously on the relationships established between the different social classes in the peripheral community and the central state and on those established between classes within the peripheral community. In 1936, the main part of the Christian democrat PNV sided with the Second Spanish Republic in the Spanish Civil War. The promise of autonomy was valued over the ideological differences, especially on the religious matter, and PNV decided to support the republican legal government, including member of the Popular Front. Autonomy was granted in October 1936. A republican autonomous Basque government was created, with Josà © Antonio Agirre (PNV) as Lehendakari (president) and ministers from the PNV and other republican parties (mainly leftist Spanish parties). conclusion The Spanish Civil War contributed to bringing about the Second World War most historians argue that the Spanish Civil War was the prelude to the Second World War. Though A.J.P. Taylor, a famous revisionist, has a different opinion (in his classic book The Origins of the Second World War) he argues that the Spanish Civil War was without significant effect in causing the Second World War. He also criticizes the Anglo-French appeasement policy British and French policy, or lack of it, not the policy of Hitler and Mussolini, decided the outcome of the Spanish civil war. The republic had greater recourses, greater popular backing. It could win if it received the correct treatment to which it was entitled by international law: foreign arms for the legitimate government, none for the rebels. It could even win if both sides received foreign aid, or if both were denied it.

Role of Visions and Hallucinations in Macbeth Essay examples -- Macbet

In Shakespeare’s Macbeth, Macbeth’s visions and hallucinations play a significant role and contribute to the development of his character. In the play Macbeth, a man is driven to murder his king and his companions after receiving a fairly ambiguous prophecy told by three witches. Although the witches triggered the series of events that later aid Macbeth’s descent into complete insanity, Macbeth is portrayed from the very beginning as a fierce and violent soldier. As the play goes on, several internal conflicts inside of Macbeth become clear. After he performs several bloody tasks, the madness inside of Macbeth is unmistakably visible to everyone around him. As a result of this insanity, he sees visions and hallucinations. Each time Macbeth hallucinates, he plunges further into insanity that is essentially caused by misguided ambition, dread and guilt. Macbeth has three key hallucinations that play a considerably important role in the development of his character: a dagger, the ghost of Banquo, and four apparitions while visiting the prophesying witches. Macbeth’s first hallucination and sign of madness comes directly before his wife and he murder King Duncan. After hearing from the witches that he will become the king and conversing with his wife about this, the two of them decide they must kill Duncan. From the beginning of the play, we see Macbeth is a loyal warrior, albeit a vicious one with no trouble killing. It is in the first scene that Macbeth’s brutality is illustrated. An army captain reported: â€Å"For brave Macbeth (well he deserves that name), Disdaining Fortune, with his brandished steel, Which smoked with bloody execution, Like valor’s minion, carved out his passage Till he faced the slave; Which ne’er sh... .... His insanity was a result of ambition taken much too far, ambition mutated and converted into evil by internal as well as social conflict; Macbeth’s wife did nothing to prevent Macbeth’s sickness and actually helped the problem develop. From his ambition came actions that filled his mind with conflict, dread, suspicion and guilt. It could be said that Macbeth was insane from the beginning, from the moment that the witches appeared to him in the third scene of the play or even from when he carved out his bloody passage in battle. Whether Macbeth was insane his whole life or just from the moment he first saw the imaginary dagger, it is indisputable that his visions and hallucinations only helped to supplement his lunacy. Works Cited Shakespeare, William. The Tragedy of Macbeth. Boston: D.C. Heath and Company, 1915. Google Books. Web. 3 Sept. 2015.

Ocean Carriers Case Study Solution Essay

Executive Summary Given the current and expected market conditions, the financial department of the Ocean Carriers Group is to evaluate the potential revenues and expenses of commissioning a new capsize ship for cargo transportation in order to meet a received demand for lease. A recommended approach would consist in analyzing the expectations for the world economy, trends in world trade and potential contracts; however, an estimated time of service should be assigned in order to predict future cash flows. Summary of facts In January 2001, Mary Linn, vice president of Finance for Ocean Carriers, had to decide whether to accept an offered leasing contract for the duration of three years. In the event of acceptance of the above-mentioned contract, the profits of the company would depend on the agreed hire rates, operating costs, ship depreciation and inflation. After the closure of the contract, further income would be evaluated based on expected market daily hire rates. The conditions for the proposed lease are shown in exhibit 1. Statement of problem The duration of the leasing contract is quite short so the company has to analyze whether the investment as a whole will prove to be profitable even after the closure of the contract. In order to do so, they will have to take into account the fluctuations of the daily spot rates in the short and long terms, as well as existing differences in taxation policies within its offices in Hong Kong and in the United States. Last but not least, the company has to question the tenability of its 15-year policy. Analysis Spot hire rates Daily spot hire rates are predicted to fall in 2001 and 2002 due to an  increase in the fleet size (63 new vessels are scheduled for delivery) and expected stagnation in iron ore and coal shipments. Iron ore and coal imports are very important for the company because they are about 85% of the cargo it carries every year. Therefore, due to this future stagnation the company will face a weak market position, resulting in lower daily spot hire rates. Overall investment Despite negative market conditions in the upcoming 2 years, long-term prospects look much more promising. Iron ore vessel shipments are going to increase due to new players joining the iron ore industry: India and Australia. As a consequence, in this new global market, daily charter rates and spot daily charter rates will probably rise producing additional demand for shipments. Company’s 15-year policy The company used to scrap or sell ships just before their 15th year of navigation to avoid paying for maintenance expenses related to the 3rd special survey. According to our calculations presented in the Exhibit 2, scrapping the vessel before the 15th year is not recommended. Results show that the NPV of a ship after 15 years is higher than the scrap value of 5 million dollars. Thus, we advise the company to keep the ship longer than 15-year period, since operating the vessel over a longer period will earn additional profit and the ship can be scrapped some time later, granting the same million dollars. However, there are few factors that signal why company might be willing to get rid of the vessel. Firstly, if the company’s priority is to keep a young fleet of cargo ships, operating ships older than 15 years may not be the optimal choice. In fact, older ships are riskier and are less efficient. Secondly, due to low demand for older ships, leasing the same vessel in future might be an ineffective venture. Investment decision We computed two separate calculations for given two assumptions in Exhibit 2.  According to assumption A the company operates in United States, thus has to pay 35% of taxes, whilst according to assumption B, company operates in Hong Kong, and it’s exempt of taxes. Our calculations show that NPV in the first scenario is negative in both 2017 (-6,350,239) and 2027 (- 4,285,462) due to very high taxes, while in the second scenario the NPV is positive in both 2017 (1,719,018) and 2027 (4,025,600). It’s important to understand why we presented two columns for 2017. First column shows the numbers in the case of operating a vessel for 15 years, whilst second column shows the values in case ship was to be operated for a longer period. Another important fact to consider is that in the first scenario, when the company operates ship only for 15 years, we excluded the capital expenditure for 2017 related to the survey, Whilst, in the second scenario, while operating the ship for more than 15 years, we added the yearly capital expenditure back. We made an important assumption; we did not include capital expenditures linked to the last special survey, because we assumed that the company is scrapping the ship just before the special survey is conducted. Recommendations In conclusion, keeping in mind what we demonstrated before, the company should invest in the production of the new vessel only in Hong Kong and should not scrap it after 15 years, because its NPV will still be positive.

Balance Sheet and Following Account Balances

Retained earnings 109,oho 712,000 712. 000 b. Actual sales for December and budgeted sales for the next four months are as follow s: – December (actual) 2800 units It is expected that sales will increase by 40% in the month of January and by a further 50% in the next month. The following month sales would drop by 50% an d then will will ream remain in cons Tanta for for the next next 2 moon months this – The management will not alter the selling price, which is currently $100 – Management wants finished goods inventory to be 20% of the following month's sales – One units of finished goods require 2 kilos of raw materials. –The price of materials is currently $10 per kilo and is expected to increase by 50% in February hereafter it will remain constant for the next four months. – The management wants raw materials inventory to be 10% of the following month's p reduction needs – Each unit of product requires 2 hours of direct materials fo r completion. – The laborers are expected to work for a total of 4000 hours per month at a wage rat e Of $6 per hour. Any additional work requires an overtime payment of time and a half. – Manufacturing overhead: variable: $5 per labor hours worked; fixed $17000 per MO nth. – Sales are 20% for cash and 80% on credit.Half of the credit sales are collected in the month following sale while the remaining half is collected in second month after the sales. The accounts receivable at December 31 are a result of December credit sales. – Monthly expenses are budgeted as follows: salaries and wages, $10,000 per month: a advertising, $70,000 per month; shipping, 5% of sales; other expenses, 3% of sales. Depreciation, I including depreciation on new assets acquired during the quarter, will be $42,000 for the quart err. – One- half of a month's raw materials purchases is paid for in the month of purchase; the to her half is paid in the following month.Shipping expenses are paid in the month following the shipment. , while advertising I s paid in one month's advance. During February, the company will purchase a new copy machine for $1,700 cash. Du ring March, other equipment will be purchased for cash at a cost of $84,500. – During January, the company will declare and pay $45,000 in cash dividends. – Management wants to maintain a minimum cash balance of $30,000. The company h as an agreement with a local bank that allows the company to borrow in increments of $1,0 00 at the beginning of each month. The interest rate on these loans is 1% per month and for is