Money and Banking Study Guide Chapter 1-5

Chapter 1- Why study Money, Banking and Financial Markets? Why are Financial Markets Important? Financial markets are crucial to promoting greater economic efficiency by channeling funds from people who do not have a productive use for them to those who do. Well functioning financial markets are a key factor in producing high economic growth, and poorly performing financial markets, vice versa. Financial markets and intermediaries have the basic function of getting people together by moving funds from those who have a surplus of funds to those who have a shortage of funds. The Importance of Interest Rates On a personal level, high interest rates can deter you from buying a house or a car because the cost of financing would be too high. Conversely, they could encourage you to save because you earn more interest by putting your money aside in savings. ON a more general level, interest rates affect the overall health of the economy because they affect not only consumers’ willingness to spend but also businesses’ investment decisions. High interest rates for example might cause a corporation to postpone building a new plant that would provide more jobs. The Importance of Stocks On a personal level the fluctuations in stock prices affect the size of people’s wealth and as a result may affect their willingness to spend. On a general level, it affects business investment decisions since the price of shares affects the amount of funds that can be raised by selling newly issued stock to finance investment spending. A higher price for a firm’s shares means that it can raise a larger amount of funds, which it can use to buy production facilities and equipment. A higher price means it can raise a larger amount of funds, which it can use to buy production facilities and equipment. Role of Financial Intermediaries Financial intermediaries are institutions that borrow funds from people who have saved and in turn make loans to others. Banks are included in this category. They accept deposits and make loans. These include commercial banks, savings and loan associations, mutual savings banks and credit unions. Investment banks are, insurance companies, mutual funds etc. are a different category. Money growth and Inflation Inflation may be tied to continuing increases in the growth rate of the money supply. Countries with the highest inflation are those with the highest money growth rates. Questions: – Quantitative easing is done by the Federal Reserve buying more bonds. This is how they decrease the interest rate. Therefore, since the Federal reserve said they will be keeping the interest rate close to zero for the next two years, is this not considered QE3? – How many shares of stock are too much? Can’t a company infinitely raise money than? Like when does it become a problem in terms of ownership? When 51% is in the hands of the public? Are stock profits considered cash flow for a company? Chapter 2- An Overview of the Financial System Indirect Finance vs. Direct Finance In direct finance borrowers borrow funds directly from lenders in financial markets by selling them securities that are claims on the borrower’s future income or assets. In indirect finance, lender-savers provide funds to financial intermediaries, who provide funds to borrower and spenders, as well as into financial markets. This financial intermediary borrows funds from the lenders savers and then using these funds make loans to borrower-spenders. This process is called financial intermediation. It is more feasible for them to do this because of their economies of scale and ability to shy off transaction costs. Also it provides liquidity services, and risk sharing. This process of risk sharing is also sometimes referred to as asset transformation, because in a sense, risky assets are turned into safer assets for investors. Firm and Individual Ways to Obtain Funds First way is to issue a debt instrument such as a bond or a mortgage. Second is by raising funds through issuing equities, such as common stock. Primary vs. Secondary Market Primary is where new issues of a security such as a bond or sock are sold to initial buyers by the corporation or government agency borrowing the funds. A secondary market is a financial market in which securities that have been previously issued can be resold. An investment bank assists in the initial sale of securities in the primary market by underwriting the securities: it guarantees a price for a corporation’s securities and then sells them to the public. A corporation acquires new funds only when its securities are first sold in the primary market. Importance of Secondary markets Although they don’t directly increase corporations stock they nonetheless serve two important functions. (1) they make it easier and quicker to sell these financial instruments to raise cash; that is they make the it more liquid. This increased liquidity then makes them more desirable and thus easier for issuing firm to sell in the primary market. (2), the secondary market determines the price of the security that the issuing firm sells in the primary market. The investors buying in the primary will pay the corporation no more than the price they think the secondary market will set for the security. Brokers vs. Dealers Brokers are agents of investors who match buyers with sellers of securities; dealers link buyers and sellers by buying and selling securities at stated prices. A dealer is a person who will buy and sell securities on their account. On the other hand, a broker is one who will buy and sell securities for their clients. When dealing with securities, dealers make all decisions in respect of purchases. On the other hand, a broker will only make purchases as per the client’s wishes. While dealers have all the rights and reedom regarding the buying and selling of securities, brokers seldom have this freedom and these rights. Money Market vs. Markets The money market is a financial market in which only short-term debt instruments are traded. The capital market is the market in which longer-term debt instruments and equity instruments are traded. Money markets are usually more widely traded so tend to be more liquid. Short-term securities are also less volatile in p rices than long-term securities, making them more safer investments. Certificate of Deposit (CD) Is a debt instrument sold generally by commercial banks that pay annual interest of a given amount and at maturity pays back the original purchase price. They are sold in the secondary market. Repurchase Agreements (Repos) These are effectively short-term loans usually with a maturity of less than two weeks, for which treasury bills serve as collateral, an asset that the lender receives if the borrower does not pay back the loan. A large corporation for example may have some idle funds in its bank account say $1 million that it would like to lend for a week. Microsoft uses this excess $1mil to buy Treasury bills from a bank, which agrees to repurchase them the next week at a price slightly above Microsoft’s purchase price. The effect is that Microsoft makes a loan of $1 million ot the bank and holds $1 million of the bank’s treasury bills until the bank repurchase the bills to pay off the loan. Federal Funds and Federal Funds rate These are confusing because the federal funds designation is not to be confused with loans made by the federal government. It is rather by banks to other banks. One reason they might borrow from other banks is to meet the amount required by regulators. The federal funds rate is a closely watched barometer of the tightness of credit market conditions in the banking system. Its the interest rate at which depository institutions actively trade balances held at the Federal Reserve, called federal funds, with each other, usually overnight. When high that means banks are strapped for funds, when low, banks credit needs are low. Thus with a high federal funds rate banks require more money reserve in their vaults and thus can’t issue out loans as regularly. Asymmetric Information: Adverse Selection and Moral Hazard When one party often does not know enough about the other party to make accurate decisions. For example a borrower who takes out a loan usually has better information about the potential returns and risk associated with the investment projects for which the funds are earmarked than the lender does. Lack of information creates problems on two fronts: before the transaction is entered into and after. Adverse Selection The problem created by asymmetric information before the transaction occurs. It occurs when the potential borrowers who are the most likely to produce an undesirable (adverse) outcome –the bad credit risks- are the ones who most actively seek out al oan are are thus most likely to be selected. Moral Hazard The problem created by asymmetric information after the transaction occurs. It is the risk and hazard that the borrower might engage in activities that are undesirable from the lender’s point of view; because they make it less likely that the loan will be paid back. When you make a loan, it is usually by trust that they do what they say they’ll do with the money. Depository Institutions Commercial banks, Savings and loan Associations, Mutual Savings Banks, Credit Unions. These are financial intermediaries, referred to as simply banks in the text, that accept deposits from individuals and institutions and make loans. Thrift Institutions are all of these minus commercial banks. Commercial Banks Raise funds primarily by issuing checkable deposits, savings deposits, they then use these funds to make commercial, consumer, and mortgage loans and to buy US government securities and municipal bonds. They are the largest financial intermediary and have the most diversified portfolios of assets. Savings and Loan Associations and Mutual Savings Banks Obtain funds primarily through savings deposits often called shares and time checkable deposits. Over time they have been less constrained and are turning into commercial banks. Credit Unions Usually very small cooperative lending institutions organized around a particular group: union members, employees of a particular firm, and so forth. They acquire funds form deposits called shares and primarily make consumer loans. Contractual Savings Institutions Financial intermediaries that acquire funds at periodic intervals on a contractual basis, since they can predict with reasonable accuracy how much they will have to pay out in benefits in the coming years. Liquidity is not as important. Involve life insurance companies, fire and casualty insurance companies, and pension and government retirement funds. Finance Companies Raise funds by selling commercial paper and by issuing stocks and bonds. They lend funds to consumers who make purchases of items and to small businesses. Some are organized by parent corporations to help sell its product. Mutual Funds Acquire funds by selling shares to many individuals and use the proceeds to purchase diversified portfolios of stocks and bonds. Mutual funds allow shareholders to pool their resources so that they can take advantage of lower transaction costs when buying large blocks of stocks or bonds. Money Market Mutual Funds Similar to a mutual fund but they also function to an extent as a depository institution. They sell shares to acquire funds that are then used to buy money market instruments that are both safe and liquid. A key feature is that shareholders can write checks against the value of their shareholdings. Investment Banks It is not a bank or a financial intermediary in the ordinary sense; that is, it does not take in deposits and then lend them out. Instead, an Investment Bank is a different type of intermediary that helps a corporation issue securities. First it advises the corporation on which type of securities to issue (stocks or bonds) then it helps sell (underwrite) the securities by purchasing them from the corporation at a predetermined price and reselling them in the market. They also act as deal makers and earn enormous fees by helping corporations acquire other companies through mergers and acquisitions. Regulations involved Restrictions on entry, only those who have impeccable credentials and a large amount of initial funds are given a charter as a financial intermediary. Stringent reporting requirements for financial intermediaries. Restrictions on certain assets and activities. Deposit Insurance, Limits on Competition. Also, there is a restriction on interest rates that can be paid on deposits. These regulations were instituted because of the widespread believe that unrestricted interest-rate compensation helped encourage bank failures during the Great Depression. In terms of regulation abroad, the major differences between financial regulation in the US vs. Abroad relate to bank regulation as in the past the US was the only industrialized country to subject banks to restrictions on branching which limited banks size. Questions: When a company issues a secondary IPO, is it in the primary market or secondary market? Chapter 3 – What is Money? What are the requirements for Money? (1) Must be easily standardized making it simple to ascertain its value (2) It must be widely accepted (3) It must be divisible so that it easy to make change (4) It must be easy to carry and (5) It must not deteriorate quickly. Examples have included strings of beds used by Indians, to tobacco, and whiskey, to cigarettes. Functions of Money Money is used as (1) a medium of exchange to pay for goods and services (2) a unit of account used to measure value in the economy (3) a store of value used to save purchasing power from the time income is received until the time it is spent. Commodity Money Money made up of precious metals or another valuable commodity is called commodity money. Problem is that it is hard to transport. Fiat Money Paper Currency. It has the advantage of being much lighter than coins or precious metal, but it can be accepted as a medium of exchange only if there is trusting in the authorities that issue it and if printing has reached a sufficiently advanced stage that counterfeiting is extremely difficult. Major drawbacks are that they are easily stolen and can be expensive to transport in large amounts because of their bulk. To combat this there has been the invention of checks. Monetary Aggregates M1 = Currency + Traveler’s Checks + Demand deposits + Other checkable deposits. M2 = M1 + small denomination time deposits + savings deposits and money market deposit accounts + money market mutual fund shares. M1 is the most liquid while M2 is money including assets that have check-writing features and other assets that can be turned into cash quickly at little cost, but are not as liquid. Chapter 4 – Understanding Interest Rates Simple Loan PV = CF/(1+i)^n, there’s not payments in between, it’s just the lender provides the borrower with an mount of funds (principal) which is then repaid back to lender at the end of the maturity (can be any amount of years) as well as an interst. Fixed Payment Loan Lender provides borrower with an amount of funds which must be repaid by making the same payment every period consisting of part principal and part interest. Coupon Bond Your normal type of bond, pays interest by coupon payment, price changes, principal at end. Corporate bonds, treasury bonds, all are coupon bonds. Discount Bond Zero-Coupon Bond, this is a type of coupon bond where it is bought at a price below its face value and the face value is repaid at the end of the maturity date. However it does not make any interest payments. It’s coupon rate = 0. YTM = F-P / P Perpetuity Type of coupon bond that is a perpetual bond and has no maturity date where it repays a principal amount. P = C/i Current Yield With long-term bonds or perpetuities, I = C/P and this just equals the current yield. Distinction Between Interest Rates and Returns A lender is not better off if the interest rate rises. How well a person does by holding a bond or any other security depends on their assets return. Here for a bond, the return is defined as the payments to the owner plus the change in its value, expressed as a fraction of its price. R = C+P2-P1 / P1. R = i + g.. = Coupon rate + rate of capital gain. Greater fluctuations with Long Term Bonds When interest rates rise, long-term bonds bear the worse effect since their present values are taken into far far into the future, therefore their prices are more drastically changing. The more distant a bond’s maturity the greater the size of the percentage price change associated with an interest rate change. It’s all because of the change in capital growth. Interest Rate Risk Prices and returns for long-term bonds are more volatile than those for shorter-term bonds. The riskiness of an assets return that results form interest rate changes is called interest-rate risk. Bonds with a maturity that is as short as the holding period have no interest rate risk. This is true only for discount bonds and zero-coupon bonds. The key is to recognize that the price at the end of the holding period is already fixed at face value, the change in interest rates then have no effect on the price at the end of the holding period for thos bonds, and the return will therefore be equal to the yield to maturity. Fisher Equation Nominal interest rate always equals the real interest rate + the expected rate of inflation. Chapter 5 – The Behavior of Interest Rates Determinants of Asset Demand 1) Wealth – Increasing wealth creates more resources available with which to purchase assets and therefore quantity of assets we demand increases. (2) Expected Returns – An increase in an asset’s expected return relative to alternative assets raises the quantity of assets we demand. (3) Risk – The degree of risk or uncertainty of an asset’s ret urns also affects the demand for the asset. Increasing risk decreasing the quantity of assets demanded. (4) Liquidity – The more liquid an asset is relative to alternative assets, the more desirable it is and greater the quantity demanded. What determines interest rates? There’s two theories: the Bond Market Framework and the Money Market framework called the Liquidity Preference. The best Theory is the combination of the two. Demand Curve in the Bond Market As the interest rate rises, or prices of the bonds decrease, people or willing to lend out more money therefore increase their quantity of buying bonds. This explains the negative slope of the bond demand curve. Supply Curve in the Bond Market As the interest rates rise, or prices of the bonds decrease, people are less willing to borrow by selling bonds considering that their interest payments are higher. Therefore as interest rates increases, quantity of bonds decrease thereby explaining the positive slope of the supply curve. Shifts in the Demand for Bonds The theory of asset demand demonstrated before provides factors which cause the demand curve for bonds to shift. Therefore these four parameters are included: (1) Wealth – Increase in wealth increases demand for bonds. This is because with higher wealth, there is a growing business expansion, and therefore people are willing to lend out money more. Also, propensity to save, if households save more, wealth increases and demand for bonds rises. 2) Expected Returns – Increase in expected returns on bonds relative to alternative assets increases demand for bonds. (through expected interest rates and expected inflation) a. Interest Rates E – Higher expected interest rates in the future, say 10% to 20%, would lead toa sharp decline in price and a very large negative turn. Therefore if people expect higher interest r ates next year, the demand for bonds will decrease. b. Inflation Rate E – An increase in the expected rate of inflation lowers the expected return for bonds. This is because a change in expected inflation is likely to increase the return on physical assets relative to bonds, therefore leading to a fall in relative return on bonds therefore decreasing asset demand. (3) Risk – Increasing risk of bonds relative to alternative assets decreases demand for bonds. (4) Liquidity – Increasing liquidity of bonds relative to alternative assets increases demand for bonds. Shifts in the Supply Curve (1) Profitability of Investment Greater economic expansions yield increases in supply of bonds. The more profitable plant and equipment investments that a firm expects it can make, the more willing will borrow. When the economy is growing rapidly, investment opportunities that are expected to be profitable abound, and the quantity of bonds supplied at any given bond price will increase. (2) Expected Inflation – When inflation is expected to rise, the real cost of borrowing is more accurately measured by the real interest rate which is the nominal rate minus the expected inflation rate, thus real cost of borrowing falls hence quantity of bonds supplied increases. 3) Government Budget – Higher government deficits increase the supply of bonds and shift the supply curve to the right. Government surpluses however do the opposite. Fisher Equation WHEN EXPECTED INFLATION RISES – INTEREST RATES WILL RISE Changes in the Interest Rate due to a Business Expansion In an expansion, the amount of goods and services produced in the economy increase so the national income increases and therefore wealth increases. Therefore demand for bonds increases. At the same, opportunities that are profitable also increase and supply for bonds increase as people want to borrow more. Therefore what happens? Theoretically, nothing, quantity of bonds increases but price/interest rate can go either way. According to data though, usually the supply effect > demand effect as more people invest in new opportunities. Therefore interest rates generally rise during an economic expansion. Business Cycles and Interest Rates Data shows that interest rates rise during business cycle expansions and fall during contractions. Focusing into the Money market now. Liquidity Preference Framework says that the analysis of the money market is the same as the analysis of the bond market. Bs – Bd = Md – Ms. The reason that we approach both in the determination of interest rates with both frameworks is that the bond supply and demand framework is easier to use when analyzing the effects from changes in expected inflation, whereas the liquidity preference framework provides a simpler analysis of the effects from changes in income, the price level, and the supply of money. Demand Curve for Money REMEMBER THAT FOR THE MONEY MARKET THE Y AXIS IS INTERST RATE ICNREASING. As interest rates rise, the opportunity cost of holding money increases therefore quantity demanded for money decreases. The Federal reserve controls the amount of money supplied therefore they are able to cause it into equilbirum. Liquidity Preference Framework: Shifts in Demand for Money (1) Income – A higher level of income causes the demand for money at each interest rate to increase and the demand curve to shift right. People want to hold more money. Thus interest rates will rise. (2) Price-Level Effect – When price level rises the same nominal quantity of money is no longer as valuable; it cannot be used to purchase as many real goods or services. To restore their holdings of money in real terms to its former level people want to hold more money. Therefore increasing the price level increases the demand for money. Thus interest rates will rise. Liquidity Preference Framework: Shifts in Supply of Money (1) Only changes by the federal reserve. Now Combining Liquidity Preference and Bond Framewor When we Increase the MS (1) Income Effect – Because an increasing money supply is an expansionary influence on the economy, it should raise national income and wealth. Both the LP and BSD framwork indicate that interest rates will then rise. Thus the income effect of an increase in the money supply is a rise in interest rates. (2) Price – Level Effect – An increase in the money supply causes verall price level in the economy to rise. The liquidity preference framework indicates that this will lead to a rise in interest rates. (3) Expected Inflation Effect – The higher inflation rate that results from an increase in the MS also affects interest rates by affecting the expected inflation rate. The Bond Supply fr amework believes this leads to higher levels of interest rates. But does a higher rate of Growth of the Money Supply Lower Interest Rates? Of all the effects, only the liquidity effect indicates that a higher rate of money growth will cause a decline in interest rates. In contrast, the income, price level and expected inflation effects indicate that interest rates will rise when money growth is higher. Generally the liquidity effect from the greater money growth takes effect immediately because the rising money supply leads to an immediate decline in the equilbrium interest rate. The income and price level effects take tim to work because it takes time for the increase money supply to raise the price level and income which in turn raise interest rates. The expected inflation rate can be slow or fast depnding on wether or not people adjust expcations quik enough.

Ethnocentrism Hinders Effective Cross-Cultural Dialogue and Common Understanding Essay

As human beings, we are inherently biased in our judgment of issues and others- by others I mean those who do not belong in the same socio-cultural group we ascribe to. Our inborn predilection to take a subjective view of reality leads to the common-and equally incorrect- assumption that we are right in our ways, while ‘others’ are wrong in theirs. This tendency of biased notions of cultural superiority in relation to other cultures is what political scientist William G. Sumner (1906) summed up with the coinage of the term ‘ethnocentrism. ’ By definition, ethnocentrism is the tendency by individuals to believe, unconsciously and through false assumptions, that their culture is better than that of others. Notably, there is a running thread of collective concurrence among whites that ‘we westerners’, with our western civilization and attendant lifestyles, are superior to the backward races of Africa, which we conveniently label a jungle of savagery. The negative effects of ethnocentrism are manifest in international relations, where effective intercultural communication is hampered by cultural differences and culture transitional challenges (Moran, Harris and Moran, 2007, 265). Nonetheless, to avoid collective generalizations by claiming that it is ‘we westerners’ rather than ‘I, me and myself,’ who suffers this cultural prejudice- a claim by which I unwittingly admit my ethnocentric conditioning to include fellow tribesmen in my narrow worldview corner- I hereby set out to examine how I have severally paid homage to this populist bandwagon of cultural subjectivity in judgment. Finally, I will outline the course of remedy I have chartered to liberate myself from the blinding ignorance of ethnocentrism. Was it me, really, now that I’m thinking from a relatively wider perspective? Late last year, I accompanied a close friend of mine from Saudi Arabia (whom I will not disclose for the pang of guilt that gnaws at my conscience) to pick some forms from our embassy. Well, it seems that since September 11, a kind of phobia for our Muslim brothers has eaten into our national psych. At a personal level, I always change lanes every time I meet one donning a flowing white garb and†¦. err, an unusually long beard. Anyway, the security man at the embassy just ran the metal detector over my body and patted me on the back. But when it was my friend’s turn, the security guy, perhaps seeing Osama’s ghosts, took a deep breath and started what was the most rigorous personal search I had ever witnessed. He yanked the garb from the underside and ran the detector inch by inch, grinned with relief upon finding nothing (read bombs) and then allowed him to pass through. However, the issue here is not the security man’s exaggerated fears, but the fact that I took it as normal, without bothering to question why it wasn’t. The culture I grew up in had taught me to regard some religions as being synonymous with terrorism, and to dismiss others as pagan idolatry and pure superstition. In my evaluation of world religions, I’m often tempted to associate Islam with terrorism, a belief that is largely fed by media stereotyping in relation to incidences of suicide bombings. As for most traditional African religions, customs and rituals, I always found ‘evidence’ to dismiss them as the demonic chants of a pagan charlatan. Their polygamy I considered the ways of an uncivilized society that still harbors the wild caveman’s genes. On this score, my blindness was informed by the western glorification of the nuclear family unit, which greatly contrasts with other cultures’ recognition of the unifying aspect of extended families and kinship systems (Moran, Harris and Moran, 2007, 11). In regard to religious convictions, the only true Supreme Being I believed existed is the Christian God I worship, whom I assumed held in contempt the ungodly ways of unchristian religions. For such a long time, I erroneously believed that with the exception of Christians, all other believers are doomed for hell. This ethnic and cultural belief that the religion in which one belongs is centrally important (Andersen, 2006) is one of the sub-divisions that promote ethnocentrism. Personally, it was my honest conviction until I realized that every believer thinks likewise of other religions. Remarkable is my said friend’s vehement assertion that Jesse the son of Mary (Christ) was an imposter whose legend deceived people that he was the son of God. Instead, he argues that Mohamed is the true messenger of Allah, the creator of everything. Nonetheless, it will be a self-contradiction for me to consider my system of beliefs as not being the right one and the most appropriate. It is an inconsistence and admission of its falseness, which I consider the height of ideological hypocrisy. I recognize the reality that I belong to a particular culture; and the fact that to fit in my society I must conform to its cultural beliefs and value systems. However, to reconcile my cultural beliefs with other cultural worldviews, I find insight in the principle of cultural relativism by Franz Boas, who argued that â€Å"civilization is not something absolute, but is relative, and our ideas and conceptions are true only so far as our civilization goes† (Degler, 1992 p 67). Accordingly, people’s behaviors, customs and beliefs should be understood in the context of their cultures. When we use the lens of our cultures to understand other cultures, there is always the risk of prejudice and biasness. The problem of ethnocentrism leads to failure of constructive communication and misunderstandings, which in turn causes cultural differences and conflicts (Moran, Harris and Moran, 2007, p 4). Similarly, the theory of functionalism by Bronislaw Malinowski posits that cultures are systems of structures by which different societies function. Each society, therefore, has unique needs which can only be served by its own culture. As such, we can only understand the behavior of other cultures when we take that culture’s viewpoint, to avoid the misconceptions created by our experiences within our own culture. References Andersen, M. L. (2006). Sociology: understanding a diverse society. New York: Thomson/Wadsworth. Degler, C. N. (1992). In Search of Human Nature: The Decline and Revival of Darwinism in American Social Thought. US: Oxford University Press. Moran, T. R. , Harris, P. R. , Moran, S. V. (2007). Managing cultural differences: global leadership strategies for the 21st century, 7th Edition. New York: Butterworth-Heinemann Sumner, W. G. (1906). â€Å"Folkways. † In McCann, C. R. (2004). Individualism and the social order: the social element in liberal thought. New York: Routledge.

The Main Definitions of Management Essay Example | Topics and Well Written Essays - 1000 words

The Main Definitions of Management - Essay Example This paper also discusses the challenges faced by management in a multicultural work setup which has become omnipresent in the contemporary age. Management as a complex process There are myriad of definitions of management in the literature. However, this is not something particular of management. Literature also has myriad of definitions of all kinds of topics including leadership, organization and supervision. Different definitions of management emerge from different kinds of ideologies that exist with people. People interpret management with respect to their individualistic experiences. No two people can manage a system alike. This happens because of no two people have the same kind of psychology and personality traits. An individual’s skill to manage is fundamentally an outcome of the individual’s personality traits. The individual’s experience in a certain setup also contributes a lot to the individual’s management skills. A person who is a successful manager in a particular culture may not be equally successful in a different culture. There are a number of internal and external factors that guide the individual’s management skills. This explains why different people interpret management differently. ... tion of management is, â€Å"The organization and coordination of the activities of an enterprise in accordance with certain policies and in achievement of defined objectives† (BusinessDictionary, n.d.). This definition promotes the concept that management in an organizational setup is guided by the policies established by the owners. Organization and coordination of the activities conducted in the organization in due compliance with those policies is the job of management. The definition of management proposed by Reddy (2004) focuses upon the psychological aspect of management. â€Å"Management is the process of designing and maintaining an environment in which individuals, working together, in groups efficiently accomplish selected aims† (Reddy, 2004, p. 3). From this definition, it can be inferred that management is essentially a process of creating such an environment in the organization which is psychologically appealing to the workers so that they may be satisfied and achieve their optimal potential in work and thus, contribute to the achievement of the organizational objectives. Significance of multiple definitions of management The existence of myriad of definitions of management in the literature is of a lot of significance. One definition of management provides limited insight into the depth of the concept of management. The audiences can only understand management from the viewpoint of the person who has given the definition. In order to gain a firm understanding of the term, it is imperative that the audiences read a whole range of definitions of management and look at the term from the perspectives of many philosophers rather than one. The rule is simple; the more the definitions, the clearer the concept. Contemporary issues of management: Cultural

Switching behavior and cycling durability on TiO2 coated Mg4Ni thin Essay

Switching behavior and cycling durability on TiO2 coated Mg4Ni thin film mirror - Essay Example Transmittance of the mirrors that were coated with the TiO2 film in the transparent state is improved by interference of multiple layers. Switching responses of multilayer thin films (Pd/Ti/Mg4Ni) was not effected by the outermost coatings of the TiO2 films, that is, hydriding and dehydriding speeds almost the same compared to the uncoating mirrors. Magnesium [1-3] and magnesium-based thin films [4-9] with a cap layer of Pd that can be switched between transparent and mirror states by hydrogen gas loading have attracted attention for their potential applications as smart windows, optical switches, and hydrogen sensors. Among various switchable mirror materials, magnesium-nickel alloy thin films [5-7] are one of the most promising candidates for practical use of a switchable mirror from the point of view of material cost and optical switching performance. It shows, however, fast degradation like other switchable mirror materials; after about 150 switching cycles it can not be switched again [10]. This low stability is the most severe obstacle for their applications. The investigation of the degradation mechanism indicates that the formation of magnesium oxides at the outermost surface and failure of the Pd cap layer are the major causes of the degradation [10]. Magnesium in the thin film of Mg-Ni is easy diffusing towards the outermost surface during the hydrogenation and dehydrogenation processing due to the fact that the total energy is reduced by the segregation of the Mg to the surface [11]. The researchers have developed various devises to extend the lifetime of this mirror system for practical applications. For this purpose, the various polymer materials have been used as a protection layer by spin coating to surface of the mirror [12], and the hydrogen diffusion metals such as Ti, Nb and V as a protection layer inserted to the Pd top layer and the Mg-Ni thin layer period [13]. Polymer coatings can extend the switching

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Socrates Discourse - Essay Example In that context Socrates classifies his oppressors to be as much enshrined in the machinations of the past as in the present. Socrates unravels the ploys of his detractors to attribute his fame and name to some esoteric ability to perform mysterious and unnatural feats. As per Socrates, his fame could be deemed to be the direct outcome of a wisdom that is natural and human and therefore not beyond the aspirations of any human. As per the words of Socrates, his present plight originated from his honest and bold audacity to question the validity and truthfulness of the elites of his times, be it the politicians, seers, poets, artisans or teachers. The trial of Socrates originated not from some personal sin or crime, but rather from the daring of the accused to indulge in a free play of ideas, thereby making the populace see through their proponents’ so called wisdom and sensibility. As per the Apology, the only crime Socrates seems to have committed is to challenge the status qu o of the elites of his times. In

Film analysis Essay Example | Topics and Well Written Essays - 1500 words - 1

Film analysis - Essay Example The film is the story of Mildred Pierce, a woman of humble roots who is married to Bert and has two daughters – Veda and Kay. Her husband is a successful real estate entrepreneur with his partner Wally, but ultimately loses his job, so Mildred begins to bake pies and sell them to make money to provide nice things for her daughters. The older daughter Veda is a spoilt brat but Mildred loves her and is determined to provide nice things for her. When her husband disagrees with her and refuses to let her spend money on pampering Veda and spoiling her, Mildred leaves him and is determined to get a job. After a great deal of struggle, she lands a job as a waitress and learns the nuts and bolts of the restaurant business, so that she can pay for Veda’s piano lessons and other vanities. She enters into an agreement with a man named Monty who is from a higher class to buy his house in order to satisfy her daughter’s craving to live a rich lifestyle. She even makes him a p artner in her restaurant business. Everything she does is for her daughter Veda. But as the girl grows up, she turns out to be a spoilt brat who expresses her contempt for her mother’s humble roots and is completely ungrateful for all the sacrifices her mother has made on her behalf. Finally, she even wants to run away with Monty and kills him when he refuses to run away with her. Champoux (1999:206), points out that â€Å"film enhances the learning process in ways unavailable in other media.† The film Mildred Pierce provides several positive images of women however the ultimate objective in the film is to illustrate the destructive effects of such liberation. In this aspect therefore, the film is one that falls into the classic film noir category. Orr (1997) considers two basic approaches to genre theory and describes one that is applicable to the film Mildred Pierce. This approach holds that the genre of a film cannot be defined by its dominant

Purification and charcaterization of extracellular cysteine protease Article

Purification and charcaterization of extracellular cysteine protease inhibitor, ECPI2, from chlorella - Article Example First, they cultured a strain of Chlorella sp. 4533, separated the filtrate by centrifuge, and concentrated it through evaporation. After assaying the protease activity, they eluted the inhibitor and obtained two active fractions, one of which was the primary research component, ECPI-2. The active fractions of this were pooled, dialyzed and concentrated, and then the protein concentration and carbohydrate content were determined and measured. 4. Discussion of Figures and Tables. Table 1 is the purification summary for ECPI-2, providing comparison of progressively purified elements in terms of protein concentration, total and specific activity, and percentage yield from crude of each step in the purification process. This was performed to purify the inhibitor and demonstrate the increasing level of activity. The first step used a DEAE-cellulose column of 3.5x60 cm and quadrupled the specific activity. Next, after the active elements were pooled, dialyzed and concentrated, they were applied to a Sephadex S-300 column (2x130 cm) which increased specific activity by a factor of almost 5X. Finally, after another evaporator concentration, the inhibitor was applied to a 1x150 cm column of Butyl Toyopearl 650 M, again doubling the specific activity; from crude to final, activity was increased by over 40X, giving the authors evidence of purity.

Android and Apple Comparison Research Paper Example | Topics and Well Written Essays - 1250 words

Android and Apple Comparison - Research Paper Example iOS came in the first version of iPhone in 2007 and since then, it has been one of the most illustrious mobile firmware till date. Steve Jobs was the man behind the creation of Apple Inc. and its respective software’s. There are more than 400 million iOS enabled devices all around the world. Apple holds second position in terms of market share of Smart phones industry (Lee 31). Android initially started its development in 2003 and the theme was to produce spectacular mobile phone software. Google took over Android in 2005 and sustained the initiators of Android group to stay attached with the company. Android was launched in the mobile phone device for general public in 2008. It has achieved significant milestones in the past four years. Android enjoys of having the largest Smartphone’s market share. Android has given software licenses to many technological firms. There are more than 500 million android users all over the world (Lee 38). Apple Inc. has notorious name in the mobile phone industry. Company holds the prestige of launching first capacitive touch screen phone with one of the most advanced mobile operating software. Apple’s iOS is only used in its gadgets that are, iPhone, iPod, iPad and Apple TV. The company produced iOS firmware 1.0 originally and currently iOS firmware 6.1 is present in the market. Apple has been attracting software developers through its interesting interface. iOS was the pioneer in launching interactive applications and games for mobile phones which was later on followed by many companies. iOS interface is user friendly which enables its user to customize options. Applications and games purchasing mechanism was also introduced by Apple Inc. by deploying Apple Store in its software. Customers have the option to purchase applications and games online through Apple account (Rogers and Mark 112). The unique feature which distinguishes Apple from other mobile phone

How Should the Challenges Posed by International Terrorism Best be Met Essay

How Should the Challenges Posed by International Terrorism Best be Met in the Course of the Next Decade - Essay Example The proficiency and sophistication of the terrorist attacks that we currently face is very different from what we had a decade ago. In the same way, the world is likely to face a new and more dynamic form of terrorism in the course of the next decade. It is necessary that the world gets prepared for this new challenge. Terrorism is a phenomenon that can gladly swipe a whole nation’s population from the face of the world and have the audacity to claim responsibility1. It should not be condoned at any cost. Discussion One of the greatest challenges in the course of the next decade shall be proliferation. This is the acquisition of weapons of mass destruction by terrorist organizations. Currently there are numerous terrorist organizations in the globe. The Al Qaeda movement is one of the most dangerous terrorist groups in the world currently. Even after the demise of Osama bin Laden, it is still assumed that the group is still operational and it will take time to be wiped out. Th ese are poised be regenerate in numbers and might in the course of the next decade. If they are allowed to get their hands to weapons of mass destruction, they shall for sure strike and strike hard for that matter. The next decade holds the challenge of containing the increased number and strength of terrorist organizations2. ... Attacks by national governments are a relatively subtle issue as compared to attacks from terrorist organizations which is the challenge that the world is out to face in the course of the next decade. Nations are easy to diplomatically deal with. They have vested interests which can be put on the table and used as bargain to compel them to refrain from terrorist activities. They can be threatened with sanctions; charges of crimes against humanity in the Hague based International Criminal Court; Free traveling restrictions among others. These might hold governments at ransom and thwart them from getting engaged in terrorism activities. On the other hand, terrorist organizations do not face these challenges. They cannot be cowed with sanctions or travel restrictions and the likes. It is even hard to identify who they really are in the first place. They do not have to come out in the open as heads of nations should. In this regard, the multiplication and intensification of terrorist gro ups is a very huge challenge in the course of the next decade. Meeting the challenge of the increase and intensification of terrorism organizations is a hard nut to crack, and it needs governments and law agencies to be thorough and resilient3. The best way of meeting this challenge is keeping the organizations constantly on the run. If they are allowed to settle down and organize themselves, they are able of lay their hands on extremely lethal weapons of mass destruction. They can cause the world a great deal of havoc. The world needs to hunt them down from the thickest of forests and fish them out from the deepest of oceans. This shall keep them always aloof and wary of their back. They shall concentrate on soliciting more fortified hideouts rather than soliciting

Case Study Toyota crisis Essay Example for Free

Case Study Toyota crisis Essay Organizational Crisis negatively effect organization’s name and image, as well as adversely impact employee by instilling doubt, insecurity and distrust (Tahmicioglu, 2010). Employees are directly effected by the crisis, as they are the primary stakeholders (Obston, 2014) and brand ambassadors of the company. Thus, to ensure wellbeing of employees, especially in time of catastrophe, they should be well informed and fostered under the guidance of company’s leaders. Leaders at Toyota should take an immediate action; start with early internal crisis communication, take accountability and show their commitment to resolving the crisis. Male (2004) suggests, being proactive and transparent lessen doubt and distress among employees. It will be beneficial if a live talk is set up with the employees. Live podcast will personalize the message, and will allow employees to directly hear compassion and empathy in the leader’s voice. Establishing an active feedback loop is also very effective (Miller, 2014), an online forum on company’s intranet will be a great way to facilitate two-way dialogues between employees and executives. The forum will be pivotal in giving direct feedback to employees’ questions and concerns, and for consistently providing updated information. Along with starting communication, hotlines dedicated for crisis should be provided as part of employee assistance program; employees should be encouraged to actively use the services to get professional help they need for dealing with crisis. Lack of immediate dialogue leads to speculation (Miller, 2014), and when the magnitude of the crisis is as big as Toyota’s recall, consistent media scrutiny and amplification of negative news can further fuel anxiety and uncertainty among employees (Cole, 2011). Therefore, its imperative leaders eradicate uncertainty by giving timely crisis communication that precedes external news and provide continuing support to employees. An early two-way dialogue is a good start to lessen the chaos among distressed employees. However, in addition to continuing practice of honest internal communication, for the long run, leaders will need to establish processes specific to employees’ welfare to restore lost trust.  Organizational strategy needs to improve to rectify behaviors that effected employees’ welfare in past. Toyota’s work philosophy which Liker (2004) described as â€Å"The Toyota way,† was known for continuous improvement and people development; however, aggressive focus on rapid growth (Cole, 2011) resulted in detrimental practices, such as, reward system based on cost control versus quality control, poor training, declining working conditions and work overload (Sullivan, 2010; McNeill, 2013; Cole, 2011). These practices were not only damaging to employees trust, but also clearly violated psychological contract (Rousseau, 1995) of Toyota employees. To rebuild eroded trust caused by the violation of contract, leaders need to validate employees wellbeing is not compromised again. Gillespie and Dietz (2012) recommend implementing a strategy that will safeguard against future untrustworthy actions. This can be done by articulating and enacting a system instilled with high ethical standard, clearly communicated processes and better working conditions. Providing flexible working hours, manageable workload and regular training programs will prove leaders mean well; consistently incorporating employees voice will assure their role is imperative in recovery of company image. Lastly, proactively engaging in regular evaluation of processes will result in improved performance and ultimately recapturing the reputation. References: 1. Cole, R. E. (2011). What Really Happened to Toyota. MIT Sloan Management Review The New Business of Innovation. 2. Gillespie, N., Dietz, G. (2012). The recovery of trust: Case studies of organisational failures and trust repair. Institute of Business Ethics: London. 3. John, S. (2010). A think Piece: How HR caused Toyota to Crash. Retrieved from http://www.ere.net 4. Liker, J. (2004). The Toyota way 14 Management Principles from the Worlds Greatest Manufacturer. McGraw-Hill 5. Male, B. (2010). How to handle a product recall. Retrieved from http://www.businessinsider.com 6. McNeill, D. (2013). Cover-up: Toyota and Quality Control. The Asia Pacific Journal, Vol 11, Issue 36, No. 1, 7. Miller, J. (2014). 4 Tips to help leaders communicate during a crisis. Retrieve from http://smartblogs.com 8. Obston, A. (2014). 5 ways to communicate with employees during a crisis. Retrieved from http://www.ragan.com 9. Tahmicioglu, E. (2010). Surviving your company’s mistake. Retrieved from http://www.nbcnews.com 10. Rousseau, D. (1995). The psychological contract: Violations and Modifications. The Organizational Behavior Reader. 8th ed.

Toyotas Management Philosophy

Toyotas Management Philosophy The Toyota Way describes the 14 principles that form the foundation of this uniquely successful management style. Using profiles of a diverse group of organizations, from a variety of industries, it demonstrates how this model of success can be applied in any organization, to improve the quality, efficiency, and speed of any business process, including sales, product development, marketing, logistics, and management. This blueprint of Toyotas management philosophy offers managers in blue-collar, white-collar, manufacturing, or service environments specific tools and methods for becoming the best in their industries on cost, quality, and service.   Principle 1: Management decisions should be based on a long-term philosophy, even is short-term financial goals may suffer. Principle 2: Create constant process flow to bring predicaments to the surface. Principle 3: Employ pull systems to evade overproduction. Principle 4: Balance out the workload (heijunka)-work similar to the tortoise, not the hare. Principle 5: Construct a culture of ending fix problems, to get excellence right the first time. Principle 6: Consistent tasks are the basis for continuous development as well as employee empowerment. Principle 7: Make use of visual control so that no problems are concealed. Principle 8: Employ only reliable, carefully tested technology that complements your people along with processes. Principle 9: Grow leaders who systematically understand the work, comprehend the philosophy, and train others with it. Principle 10: Increase exceptional people with teams who go along the companys philosophy. Principle 11: Value your extended set of connections of partners and suppliers by testing them and helping them develop. Principle 12: See for yourself to meticulously appreciate the circumstances (genchi genbutsu). Principle 13: Formulate decisions little by little by consensus, thoroughly considering all options: put into practice decisions quickly (nemawashi). Principle 14: Grow to be a learning organization through persistent reflection (hansei) and nonstop improvement (kaizen). While Jim Collins describes in his book, Good to Great his concepts of people and leaders. Level 5 Leadership the Level 5 Leaders are not the types which are charismatic and media. Chances are youve by no means heard of them. They are seen as humble, self-effacing as well as more concerned about the success of the company than their individual accomplishment. First Who, Then What Through a bus analogy, Collins argues that great companies first get talented people on the bus, then settle on where to drive it. As stated by to Collins, the right people are your largely important asset. Confront the Brutal Facts but Yet Never Lose Faith Those Good to Great companies continue unwavering faith that they can as well as will prevail in the end, in spite of of the difficulties, and all at once have the discipline to deal with the most brutal truths of their current reality no matter what that might be. The Hedgehog Concept also known as Simplicity within the Three Circles The Good-to-Great companies do what they be able to do best (as opposed to what they desire to do best), what they are deeply zealous about, and they center on what guides their economic engine. A Culture of Discipline containing a disciplined culture is the other extreme of having a controlled one. Hierarchy, bureaucracy, if not excessive control is not needed. Technology No one in the Good To Great executives position technology as their top 5 drivers. No one of them jumped on the .com bandwagon due to panic. All of them took a careful approach as to how technology can be of great help to them to do what they do well much more. There are so many genuine insights seen in this book. Understand that Collins has no intention to be revolutionary. He is simply reporting data. The proposition is if you could model these significant factors, your company could as well reach the level of vastness. The 5th Level Leader 5th Level Leaders contain a combination of strong will plus personal humility. The 5th Level Leader shows an unwavering resolution and sets the benchmark for building great companies. In equilibrium, he demonstrates a forceful modesty, relies on inspired standards in addition to channels ambition keen on the company, and not into the character. Comparing the two, they are similar in some ways. Collins and Liker both understand how to develop its own business. One of their similarities is their concept of people running the business. They see very good people running the operations to sales as one of their asset. However, there are some differences on how the two authors value business. In his book, Good To Great, Jim Collins describes the business strategies of both successful and unsuccessful firms. Successful CEOs evolve innovative, wealth-creating plans that are long-lived, accommodate flexibility and change, and are firmly rooted in providing genuine value to customers. The unsuccessful CEOs tend to employ quick fix strategies doomed to be short-lived. In his book, The Toyota Way, Jeffrey K. Liker describes Toyotas preeminent form of lean manufacturing the Toyota Production System (TPS). Liker acknowledges that firms can boost productivity in the short term by implementing TPS tools. But long-term sustainability critically depends on what he terms the Toyota Way, which is Toyotas management commitment to invest in its people and promote a continuous-improvement culture. Liker contends that if a company does not understand the culture behind TPS, even though it has all the tools and techniques of TPS in place, the real work of implementing lean has just begun. Essentially, TPS is about applying the principles of the Toyota Way so that workers are contributing to the improvement of the system and of themselves. The Toyota Way encourages, supports, and demands employee involvement, for it is people who carry the system to life by means of working, communicating, resolving issues, also growing together. Thus, it is a culture even more than a set of efficiency and improvement techniques. Based on the authors 20 years of studying Toyota, he offers 14 principles that constitute the Toyota Way and form the basis of the culture behind TPS. For ease of understanding, he divides these principles into the four categories-Philosophy, Process, People/Partners, and Problem Solving-that correlate to the four high-level principles (genchi genbutsu, kaizen, respect, and teamwork) explained in Toyotas own internal Toyota Way training document. The idea of understanding that drives action is one way to put it. Good to great companies worked to understand at a deep level what made their company work, and by continually looking for new answers to the question, they developed the momentum to breakthrough into greatness Their leaders understood success was not about themselves as a person, but about the success of their company. They understood that the right people in the right seats on the bus make all the difference. They understood the importance of finding the truth and acting on it in the form of facing the brutal facts of reality, while maintaining unwavering faith that they would succeed. They understood that tapping passion, extraordinary competence, and the key economic driver builds progressive momentum. They understood the discipline of staying focused on the essentials and stopping the distractions. They understood technology is best used to accelerate momentum, not to create it. Finally, they understood that greatness comes from sustained commitment to disciplined people, disciplined thinking, and disciplined action that creates breakthrough momentum. Such understanding requires the integrated whole of the principles illustrated in this book. The challenge to all is to embody these principles, and by so doing, to live them out in everyday actions and interactions. By so doing, greatness, or even further greatness, awaits.

Adults in Rebound Relationships: A Narrative Inquiry

Adults in Rebound Relationships: A Narrative Inquiry Adrienne Maie C. BactolSushmita G. De Leon Kyle Marie S. CayabanMa. Fatima G. Isanan Everybody has heard of rebound fling. This type of relationship comes immediately after ending the previous relationship. Rebounds are usually not based on love, rather it is just a way for people to relieve themselves from the loneliness and hurt they felt from their break-up. They are dubbed as â€Å"rebound† relationship which reflects a common perception that they are somehow unique or different from a non-rebound relationship. According to Brumbaugh and Fraley (2014), â€Å"A rebound relationship is commonly understood to be a relationship that is initiated shortly after the end of a significant romantic relationship—before the feelings about the former relationship have been fully resolved.† The statement represents a commonly held negative view of rebounds. In sum, the consensus is that a rebound relationship is a band-aid that will distract us from dealing with unresolved emotional issues related to our previous relationship. A band-aid that can only stay in place temporarily and when ended, it still reveals an unhealed wound. People who lately experienced a breakup may gain from engaging through their emotional distress particularly by means of reflection and considering a new relationship (Marshall, Bejanyan, Ferenczi, 2013). People rely on the representations of their former partners in finding a new partner to guide the way they relate to others (BrumbaughFraley, 2006). However, according to Spielmann, MacDonald and Tackett (2011), ex-partners perceived as having high potential for meaningful connection are especially difficult to get over when current or future partners fall short in satisfying needs for intimacy and closeness. But, focusing on a new relationship options – either a new partner or an optimistic outlook on relationships – decreases attachment to an ex-partner for anxiously attached individuals (Spielmann, MacDonald, Wilson, 2009). On the other hand, according to Spielmann, Joel, MacDonald and Kogan (2012) ex-partners may be used in a substitution process to strengthen bel ongingness needs when new relationship gets sour. One reasonable way that may facilitate the process of letting go is to enter into a new relationship (Spielmann et al., 2009). But it does not necessarily mean that the benefits provided by this path in getting over the previous partner outweigh the cost. To this point, there is little empirical evidence of strong costs to rebound relationships. Indeed, Wolfinger (2007) argues that divorce and time-to-remarriage statistics provide no supportive evidence for rebound-related problems. Conversely, Brumbaugh and Fraley (2014) made an empirical research about rebound relationships, their research suggests that finding a new partner is beneficial compared to those people who remain single after the relationship has ended, and people who waited longer to start their subsequent relationship has lesser welfare than people who begin their relationship quickly who also had better view of themselves. They also found out that, people who begin their relationship immediately might found some resem blance between their previous partner and new partner. Lastly, one reason that people enter into a rebound relationship is to make vengeance to their previous partner and to vent their fury. Relationship Termination It is important to know and understand about rebound relationships from which it has develop. Relationship termination was associated with increases in psychological distress as well decreases in the way that individuals rate their satisfaction with life which represents a significant stressor (Rhoades, Kamp Dush, Atkins, Stanley, Markman, 2011). In addition, Marshall et al. found that people who had painful breakups may allow other people to grow and be resilient, cleverer, and may have higher processing of cultivating themselves as an individual. They also established that different attachment styles of person can contribute to development of the person after the relationship has terminated.They concluded that a person who has a broken heart and suffered the most has the possibility to encourage themselves to have an optimistic transformation. On the other hand, it appears that avoidant individuals appear to feel they have less to lose in highly intimate relationships, and as a res ult expect less pain when the relationship ends (Spielmann, Maxwell, MacDonald,Baratta, 2012). Relationship termination states that it is commonly depressing even for the person who initiated to end the relationship (Rhoades et al., 2011). It is typical to go through a period of grieving after terminating the romantic relationship. During this period, people may experience sadness, anger, and sometimes even challenging anxiety (Chung et al., 2003). People also often experience profound loneliness after losing a partner (Moller, Fouladi, McCarthy, Hatch, 2003). Certainly, serious consequences may arise if the relationship termination was a divorce; such as custody arguments andmonetaryneeds(Wickrama, Lorenz, Conger, Elder, Abraham, Fang, 2006). With these, other than the immediate effects of a relationship loss, the loss of a partner can have a broad impact on life despite the fact that the majority of the conclusions connected with breakups are undesirable but some could be positive.In addition, relationship termination, specifically whenunanticipated, is known to hitthe thought toward oneself and self-respect. Amongst the best methods for repairing this, is to prove that the person is worthy and equipped for effectively getting new partner (Campbell, Trapnell, Heine, Katz,Lavallee, Lehman, 1996). In fact, Tashiro and Frazier (2003) states that individualimprovement is common following breakups. After you leave your previous partner, it may allow you to increase a new feeling of autonomy or change undesirable behaviors and ways of thinking. Research shows individuals who are intimate relationship have lower dynamic social lives than single individuals (GerstelSarkisian, 2006). In sum, if the past partner was a poor match or had an unfavorable effect on ones mental well-being, the individual may be more satisfied and adjusted without the partner in his or her life. Rebound Relationships and Coping Mechanisms Coping mechanisms are employed by individuals in attempts to resolve difficulties or manage their internal or external demands that are challenging to their psychological resources (Bouchard Theriault, 2003). In addition, Choo, Hatfield and Levine (1996) state that â€Å"men tend to use emotional distraction or dampening techniques following breakups, involving such things as burying themselves in work or sports to forget or ignore the pain resulting from the recent breakup†. Therefore, men will try to avoid the negative thoughts or emotions that are correlated with therelationship termination by focusing their attention elsewhere, which suggests the possibility that mencould also easily distract themselves by means of another relationship. Also, men have a tendency to be more defenseless, stunned, or disappointed when social terminations happen. They have been found to handle the closure of a sentimental relationship more difficult than women, and also been found to have stro nger emotions of pity and depression (Demaray, Malecki, Rueger, 2008). Men are mostly engage in direct unwanted behaviors such as showing up at their ex-partner’s home. Women, on the other hand, are most likely to engage in less direct unwanted behaviors such as leaving phone messages (Haugaard Seri, 2003). According to Shimek and Bello (as cited in Hill, Rubin Peplau, 1976), women are most likely to initiate the breakup than men do. It could be assumed that women have experienced less emotional violence and distractions. Women get to be aware of social issues sooner than men do, which permits them to plan for the certain and leave men unexpected revelation. Women tend to start stalking and consistently striving to restart the relationship by their ex-partners as more unreasonable than male. This then introduces theidea that men could be more likely than women to enter into rebound-type relationships after relationshiptermination as a way to redirect themselves away from the negative emotions associated with the recent break-up. However, one longitudinal investigation of undergraduate students examining the forecasting error found that the participants who had finished a two-month romantic relationship, majority part of them reported enhanced prosperity after ten weeks. These changes were more unusual in people who reported being really infatuated with their partners or who had a hard time in pursuing dating another person (Eastwick, Finkel, Krishnamurti, Loewenstein, 2008). In fact, researchers have discovered variety of indicators for emotional recovery after a breakup which assimilate affection for the previous partner, as well as length of the past relationship, attachment style and situational factors, such as proceeded contact with the ex-partner. They have not given a specific and prudent time allotment to serve everyone (Locker, McIntosh, Hackney, Wilson, Wiegand, 2010). Locker and colleagues (2010) also found that the shorter length of past relationship and quickness of returning back to a relations hip were identified with enhanced social adjustment when assessed alongside with a variety of situational factors including social support. In other words, rapidly engaging in another relationship is more powerful in elevating a return to positive adjustment and relational recovery than more customarily acknowledged systems such investing time with family or companions. In addition, engagement in a new relationship also seems to allow the individual to prevent depressive states often associated with social exclusion (Allen Badcock, 2003). Potential Functions of Rebound Relationship The period after a separation might be challenging for some individuals. Entering into another relationship may serve to help with some of these difficulties. One possibility is that individuals may utilize rebound relationships as an adapting coping strategy or asintend to distract themselves from painful emotions. Another possibility is that individuals may use rebound relationships as an approach to support fearlessness to demonstrate themselves or others that they are desirable. Dating another person may give a way to divert interest from these negative feelings. Research proposes that individual breakups can reduce thought toward clarity, making them feel less sure of whom they are.(Slotter, Gardner, Finkel, 2010).Dating another individual may help to reaffirm ones thought toward oneself and give approval that one is attractive and deserving of affection and consideration from others. Frazier and Cook (1993) found out that the main consideration in recovering from a relationship termination is confidence. Hence, if individuals might benefit that the relationship proves to be self-affirming to oneself they are more encouraged to try another relationship. Moreover, rebound relationship may be a way for filling a gap left by the previous partner, whether emotional or practical. Maner, DeWall, Baumeister, Schaller (2007) discovered that feelings of attachment can unconsciously change from an old relationship partner to another person when there is some level of similarity between two people (Brumbaugh Fraley, 2006). For other people, it may be more overt and helpful if the person found a partner to fill what is left behind by the previous partner. Therefore, for the purpose of vengeance, some individuals may enter into another relationship.People often elicits anger who experienced relationship termination (Sbarra Emery, 2005), and it could be frustrating when one did not admit the separation(Perilloux Buss, 2008). In expressing their fury, individuals may be interested by making vengeance or by striking back and making their partner feel jealous through finding a new partner. They may be moreover motivated to show to their previous partner that they do not need to bother him or her, or to make it to the point that the previous partner is not essential anymore (Brumbaugh Fraley, 2014). Current Study As such, we know little about what kind of people are likely to be involved in rebound relationships or what functions these relationships might serve. Moreover, it is not obvious whether such relationships are necessarily â€Å"misguided† in the way they are portrayed in popular culture. In fact, studies of relationship scripts suggest it is normative to enter new relationships even prior to thedissolution of the old relationship (Richard, Datteri, Lord, 1998). Since there is very little research that touches on the pros and cons of rebound relationships or thevalidity of the claims typically made of them, the present study will aim to know the stories of adults who are in the midst of rebound relationship. It aims to understand how they coped emotionallywith their previous relationship, how they describe their present relationship and howother people view their present relationship. The present study will also shed light to a deeper meaning of rebound relationship; whether entering a new relationship, and the timing of doing so, will be beneficialor detrimental to one’s new romantic relationship. The current study will aim to answer the question, â€Å"What is the story behind rebound relationships of adults who are in the midst of it?† It will answer the following specific questions: â€Å"How did you cope with your previous relationship?† â€Å"How do you describe your present relationship?† â€Å"How do people view your present relationship?† Method Research Design We will be using a narrative inquiry on this study. We will ask adults, who are in the midst of rebound relationship, to narrate their stories. We chose narrative research design, a qualitative research design, because according to Barrett and Stauffer (2009), â€Å"narrative inquiry looks at individuals’† experiences and beliefs through the stories they tell. It also provides complementary knowledge: in-depth description, understanding,and clarification of lived experience, with attention tospecifics and complexity (Polkinghorne, 2005). Narrative research design is also a lens into how humans understand their lives within particularcultures and time. The process of telling, recording, and interpretingpersonal life stories can be a poignant vehicle in understandinghow we create meaning of our existence and is well-suited toresearch professional practices (Hoshmand, 2005). Participants The participants of this study will be ten rebounders who are in the midst of rebound relationship for a span of three months and above. Participants must be 21 – 40 years old. They shouldhave entered into a new relationship right after ending their previous relationship (at most, a month). Participants will be selected through a snowball sampling method. According to Oliver (2006), snowball sampling is type of non-probability sampling in which the researcher starts by distinguishing an individual saw to be a proper respondent. This respondent is then asked to recognize an alternate conceivable respondent. The process is repeated until the researcher has gathered sufficient information. It is now and then called `chain letter sampling. Snowball sampling might be a helpful strategy in research concerned with conduct that is socially unsuitable. Procedure In this study, we will find a participant using a snowball sampling. We will find participants by asking our families and friends if they know someone who is in the midst of rebound relationship. After selecting possible participant, they will narrate their story about being in a rebound relationship. The data will be collected through an in-depth interview. The sources of data will come from the audiotapes and transcripts of the interviews. During the interview, there will be an interviewer, an observer on participants’ behavior, note-taker who will take down notes of the important answers from the participants and a person who will record everything. After collecting the data, the transcripts and the notes during the interview will be encoded to the computer. There will be backup copies that will be stored in a separate location. To maintain confidentiality, in encoding transcripts and audio recordings, participants will be given a number. Also, audio recording will be destroyed after the study. Data Analysis After we gathered the information; we will listen to the recorded audio a number of times. Next, we will transcribe the information and we will carefully read it numerous times. Then, we will summarize the gathered information. All of the content that will address the research questions will be included. Also, the ideas and wordings of the participants will be rephrased at a minimum. We will chart and discuss the information from the narratives of the ten rebounders. Afterwards, we will come up with meanings and eventually, will lead us to themes that will answer our research questions. Data from ten adults in the midst of rebound relationship will be analyzed using thematic analysis; thematic analysis is a method for identifying, analyzing, and reporting patterns (themes) within data. It minimally organizes and describes your data set in rich detail (Braun Clarke, 2006). With this, we will replicate Braun and Clarke (2006) method. This method will be using six phases; 1.) familiarizing yourself with your data which includes taking notes or marking ideas for coding that we will then go back to in subsequent phases; 2.) generating initial codes which includes production of initial codes from the data;3.) searching for themes which re-focuses the analysis at the broader level of themes, rather than codes, includes sorting the different codes into potential themesand beginning to examine codes, and consider how different codes may combine together to form an overarching theme;4.) reviewing themes which includes two levels of reviewing and refining themes. Level one wi ll include reviewing at the level of the coded data extracts. Level two will consider the validity of individual themes in relation to the data set, but also whether the candidate thematic mapâ€Å"accuratelyà ¢Ã¢â€š ¬Ã… ¸ reflects the meanings evident in the data set as a whole; 5.) defining and naming theme; we will then define and further refine the themes that we will present for our analysis, and analyses the data within them; 6.) producing the report, this phase will start when we already have a set of completely worked-out themes, and we will include the final analysis and write-up of the report. After forming the themes, it is important that the analysis will give concise, coherent, logical, non-repetitive, and interesting account of the story the data will tell – within and across themes.

Advertising: Information or Manipulation? Essay -- Marketing Business

Advertising: Information or Manipulation? In today’s difficult economy who can afford to spend their hard-earned money carelessly? Americans want good quality and low prices, and businesses that advertise their product make saving money possible. Advertising was created for one reason, so businesses could make known their product (Black, Hashimzade, and Myles). Some consumers may argue that advertising is not informative, but that it is manipulative because some advertisements make false claims. Fortunately, there are regulations and consumer rights that promote truth in advertising. Consumers must embrace their rights to keep advertising the way it is meant to be. Advertising is meant to be informative and not manipulative, and consumers play a great role in promoting truth in advertising. Advertising in America was created when businesses wanted to attract customers by providing information about their product or service (Black, Hashimzade, and Myles). Advertising has been used for many centuries, and was even used during the American Revolutionary War, 1775-1783. Businesses used different advertising techniques such as posters and signs to provide consumers with information about their products, and to persuade them to buy American. Before the war, Americans received their goods on ships from England. The American colonies won the war and became the United States of America. Now it was important for Americans to build a strong American economy (Milton 9). Even today American’s are partial to anything that says, â€Å"Made in America.† The economy thrives because of consumerism, so if advertising brings in more businesses than Americans benefit as well. Americans continue to benefit from the use of product and s... ...dleton, Kent R., Robert Trager, and Bill F. Chamberlain. The Law of Public Communication. 5th ed. Boston: Allyn & Bacon, 2002. 299-341. Print. Milton, Bess. Advertising. New York: Children’s Press, 2004. 9. Print. Mitra, Anu, Mary Anne Raymond, and Christopher D. Hopkins. â€Å"Can Consumers Recognize Misleading Content in a Media Rich Online Environment?.† Psychology & Marketing 25.7 (2008): 655-674. Business Source Complete. ESBCO. Web. 27 Oct. 2010. pdfviewer?vid=4&hid=13&sid=6735641b-1986-4a51-857c-c7676ec5d556%40sessionmgr12>. NAD Review. The Advertising Industry’s Process of Self-Regulation. Council of Better Business Bureaus. 08 Mar. 2010. Web. 27 Oct. 2010. . â€Å"The Pepsi Cola Story.† Pepsi. PepsiCo, n.d. Web. 15 Oct. 2010. . Advertising: Information or Manipulation? Essay -- Marketing Business Advertising: Information or Manipulation? In today’s difficult economy who can afford to spend their hard-earned money carelessly? Americans want good quality and low prices, and businesses that advertise their product make saving money possible. Advertising was created for one reason, so businesses could make known their product (Black, Hashimzade, and Myles). Some consumers may argue that advertising is not informative, but that it is manipulative because some advertisements make false claims. Fortunately, there are regulations and consumer rights that promote truth in advertising. Consumers must embrace their rights to keep advertising the way it is meant to be. Advertising is meant to be informative and not manipulative, and consumers play a great role in promoting truth in advertising. Advertising in America was created when businesses wanted to attract customers by providing information about their product or service (Black, Hashimzade, and Myles). Advertising has been used for many centuries, and was even used during the American Revolutionary War, 1775-1783. Businesses used different advertising techniques such as posters and signs to provide consumers with information about their products, and to persuade them to buy American. Before the war, Americans received their goods on ships from England. The American colonies won the war and became the United States of America. Now it was important for Americans to build a strong American economy (Milton 9). Even today American’s are partial to anything that says, â€Å"Made in America.† The economy thrives because of consumerism, so if advertising brings in more businesses than Americans benefit as well. Americans continue to benefit from the use of product and s... ...dleton, Kent R., Robert Trager, and Bill F. Chamberlain. The Law of Public Communication. 5th ed. Boston: Allyn & Bacon, 2002. 299-341. Print. Milton, Bess. Advertising. New York: Children’s Press, 2004. 9. Print. Mitra, Anu, Mary Anne Raymond, and Christopher D. Hopkins. â€Å"Can Consumers Recognize Misleading Content in a Media Rich Online Environment?.† Psychology & Marketing 25.7 (2008): 655-674. Business Source Complete. ESBCO. Web. 27 Oct. 2010. pdfviewer?vid=4&hid=13&sid=6735641b-1986-4a51-857c-c7676ec5d556%40sessionmgr12>. NAD Review. The Advertising Industry’s Process of Self-Regulation. Council of Better Business Bureaus. 08 Mar. 2010. Web. 27 Oct. 2010. . â€Å"The Pepsi Cola Story.† Pepsi. PepsiCo, n.d. Web. 15 Oct. 2010. .

The Scarlett Letter :: The Scarlett Letter

The Scarlett Letter The story opens with Hester Prynne standing silently on the scaffold in the middle of a town square in 18th century Boston. Hester, holding her small child in her arms, is publicly on trial for adultery. The town people, especially the women, are not happy that Hester has been sentenced only to wear a scarlet letter and to stand on a public platform for a few hours of public humiliation. However, the judge has decided to be merciful to her because, over all, she has been a good citizen up to this point. Even after hours of questioning by the authorities, Hester still will not reveal the name of the man who committed adultery with her. The father of her child, Arthur Dimmesdale, a respected minister, feels horrible to see her in this situation, but stands by in the crowd and says nothing. Eventually, he even joins in asking her to reveal the father's name. In a way he hopes she will confess and relieve him of his guilt. Suddenly, Hester recognizes her husband in the crowd surrounding the scaffold. When he realizes that she is on trial for committing adultery he promises himself that he will find the father and make sure that he is also punished. Two years before her trial, Hester arrived in a Boston harbor from Amsterdam, and she is married to an icy scholar, going by the alias Chillingworth, who is much older than she is. He had sent her alone to New England with plans to follow behind much later even though they were newly married at the time. Since then, two years have gone by and he has not even written her a letter. Hester believed that he must have gone down in a shipwreck. Later, when Chillingworth is allowed into her jail cell as a physician, he pressures her to give up the father's name and she refuses to give in to him. In response, she is ordered never to tell anyone who Chillingworth really is and she promises him that she will not. The next day, she is released from the prison, and she and her baby daughter, Pearl, are moved to a small, isolated cottage in the woods just outside of town. She manages to make the money that she needs to survive by sewing clothes for the people from town. Against puritan tradition, she also sews brightly colored, extravagant looking dresses for Pearl.

Free College Admissions Essays: Attending School in the United States :: College Admissions Essays

My  Dream of Attending School in the United States    Few people handle death well; my family is no exception. We were sitting in our living room and discussing my future educational plans, whether I would study in the US or not, when the phone rang. As my mother hung up the phone, I saw her trembling, trying hard not to cry. She sat on the couch and explained what happened. Grandfather had called to tell us that he carried my grandmother to the hospital because of a critical situation. We knew that she didn't feel well, but nobody thought the situation could become this serious. For a moment, I read the noticeable signs of guilt in my mother's eyes because she was 400 km away when my grandmother needed her. The coming days were not easy for us. My mother went to look after my grandmother at the hospital. Although my father tried hard to fill my mother's place, he had to concentrate on his business also.    We were waiting for a promising word from the doctors, but we received no positive feedback. They said that they would try chemotherapy but that they couldn't promise success. The cancer might destroy her. Meanwhile, the time was shortening. I had to choose between staying in my country or going to the US the mysterious and fascinating place whose pictures and maps decorated my room. The chemotherapy might last an entire year, and my mother had to stay with my grandparents through this process since she was their only child. That meant that my mother wouldn't be with us for one whole year and somebody had to take care of the housework. Since my father needed to support the family by going to his job regularly, I had to stay home to help both him and my little sister.    With this responsibility, I couldn't selfishly leave my family to study in the US. My mother painfully watched her mother become emaciated as the cancer advanced day by day, so I had to be there for her.

How Four Rookie Ceos Handled the Great Recession?

How Four Rookie CEOs Handled the Great Recession? 1. Use the chapter material to decide what different kinds of management challenges these four CEOs faced as they took control of managing their different companies. One of the challenges that they faced was the recession. The CEOs had to demonstrate their best conceptual skills because starting during a recession means they had to make drastic changes before the company went under. The new CEOs had to restructure the company to lower operating cost. Another challenge was managing a diverse workforce.How do you train a workforce that spoke different languages and have different work practices and worked overseas? 2. In what kinds of ways did these managers respond to these challenges- for example, in their approaches to planning, leading, organizing and controlling? Donahoe had a strategy to change the customer’s website and introducing BillMeLater. He led the employees and investors to this vision which paid off. The stocks be gan to rise again. Mr. Kenney of T Rowe Price made a plan to reduce costs.He took charge and cut back on hiring, advertising and IT. Diane took the recession by the hand and used it to her advantage. Her company had an edge over the leading competitors which at the time would struggle. She revamped the company website and pushed the products overseas. 3. Search the web. How are these managers and their companies currently performing? EBay’s John Donahoe was interviewed by James Stewart of NY Times saying â€Å"Our multiyear effort is paying off,† he said. Profit more than doubled and revenue jumped 23 percent. EBay is revitalized. We believe the best is yet to come. † In a stock market struggling with recession fears and the European debt crisis, eBay stock this week hit a six-year high. † He says that the introduction of the EBay mobile app and the purchase of PayPal has been a great innovation. T. Rowe Price’s James Kennedy said in his recent inter view for the Baltimore Business Journal, that T. Rowe’s earnings were up in the second quarter. â€Å"Investors are concerned about the Greece crisis because it will affect the rest of Europe.Here in the U. S. , he said investors are being rattled by a number of factors — unemployment, a sluggish housing market and uncertainty over whether the Affordable Care Act will drive health care costs higher, and by how much. † Diane Irvine of Blue Nile has resigned. Blue Nile didn’t give a reason why. Peter Swinburn of Molson Brewing Co. , recently made a $3. 54 billion dollar deal for the Eastern European beer brewer Starbev. The deal is expected to add to its earnings quickly, starting in the first full year of joint operations.Molson is banking on that growth, with the company paying for the transaction almost entirely through debt. Under the terms of the acquisition, Molson will pay $3 billion in cash and debt and an additional $667 million in convertible debt that will be paid to CVC. References De La Merced , M. (2012, April 03). In starbev deal, molson bets big on growth . The New York Times. Retrieved from http://dealbook. nytimes. com/2012/04/03/in-starbev-deal-molson-bets-big-on-growth/ Haber, G. (2012). T. owe price ceo on the global economy, baltimore grand prix . Retrieved from http://www. bizjournals. com/baltimore/news/2012/07/25/t-rowe-price-ceo-on-the-global. html? page=all Martinez, A. (2012, NOV 08). Blue nile ceo resigns abruptly; 3q profit falls . . Retrieved from http://seattletimes. com/html/businesstechnology/2016718784_bluenile 09. html Stewart, J. (2012, July 27). Nytimes. com. Retrieved from http://www. nytimes. com/2012/07/28/business/ebays-turnaround-defies-convention-for-internet-companies. html? pagewanted=all

The Return: Nightfall Chapter 18

matted woke, fuzzily, to bring forth himself tot eitheryay behind the steering wheel of Elenas political machine. He stumbled into his ho make use of, al ab tabu for tugting to lock the motor motor gondola, and accordingly handless with keys to unlock the back door. The class was sad his p atomic number 18nts were asleep. He make it up to his bedroom and collapsed on the bed without even taking forth his shoes.When he woke again, he was galvanize to find it was nineA.M . and his mobile ph single was sound in his jeans pocket.Merdith?We thought you were coming oer early this morning.I am, al bingle Ive got to pick up outhow first, flavourless verbalize or rather, croaked. His matter mat up twice its usual size of it and his arm at to the lowest degree quaternion times withal solely oversized. crimson so, something in the back of his opinion was calculating how to master to the boardinghouse without taking the superannuated wood Road at tout ensembl e. Fin in entirelyy a few neurons lit up and showed him. dull? Are you sedate there?Im non sure. Last nighttimeGod, I dont evenremember nearly of put up night. moreover on the government agency home looking, Ill utter you when I affirm there. First I fo at a lower position to rattle on the police.Thepolice ?Yeahlook s lavtily transgress me an hour, very well? Ill be there in an hour.When he fin all toldy arrived at the boardinghouse, it was circumferent to eleven than to ten. But a lavish had drop deaded his head, even if it hadnt d whizz a lot for his throbbing arm. When he did appear, he was engulfed in worried femininity. lethargy,w outwit into happened ?He told them e trulything he could remember. When Elena, with cut back lips, undid the Ace bandage he had engrossed around his arm, they all winced. The long scratches were clearly badly infected.Theyre poisonous, therefore, these malach.Yes, Elena tell apart tersely. Poisonous to body and question .And you call back angiotensin converting enzyme of these brush off get interior plenty? Meredith asked. She was doodling on a n sensationbook page, test to draw something that looked care what matt had described.Yes.For except a effect Elenas and Merediths ticker met then both looked shovel in. At prevail Meredith verbalise, And how do we k flat whether one is inside personor not? fair should be sufficient to tell, in trance, Elena give tongue to evenly. Even I capametropolis be fitting to tell, merely Im not vent to use White Power for that. Were sack garbage down to see Mrs. Flowers.She said it in that limited way that gym mat had learned to bed long ago, and it meant that no argument would do some(prenominal) cheeseparing. She was countersinkting her foot down, and that was that.And the loyalty was that savorless didnt visualizet very frequently winningred arguing. He hated to remonstrate hed bided through football games with a broken col larbone, a sprained knee, a move ankle only when this was different. His arm felt in danger of exploding.Mrs. Flowers was downstairs in the kitchen, barely on the family room carry over were four glasses of iced tea.Ill be honest field with you, she called through the swinging half-door that divided the kitchen from where they were turn outing. alcohol addiction the tea, especially the progeny man whos injured. Itll inspection and repair him relax.Herbal tea, clean whispered to the new-made(prenominal)s, as if this were some trade secret.The tea wasnt all that bad, although Matt wouldve preferred a Coke. But when he thought of it as medicine, and with the misfires all watching him akin hawks, he managed to get over half of it down in the first place the landlady came out.She was wearing her gardening hat or at least(prenominal) a hat with artificial flowers on it that looked as if it had been apply for gardening. But on a biscuit tray, she had a account of instr uments, all sparkle as if theyd except been boiled.Yes, dear, I am, she said to fairish, who had stood up in nominal head of Matt protectively. I used to be a nurse, on the stillton desire your sister. Women werent encouraged to be doctors then. But all my life Ive been a witch. Gets kind of lonely, doesnt it?It wouldnt be so lonely, Meredith said, looking for puzzled, if you lived closer to town.Ah, but then Id work people staring at my house all the time, and children daring each other to return and touch it, or to pose a stone through my window, or adults peering at me every time I went shopping.And how could I ever cargo deck my garden in field pansy?It was the longest destination either of them had ever hear her make. It took them so by surprise that it was a moment before Elena said, I dont see how you put forward keep your garden in peace outhere . What with all the deer and rabbits and other animals.Well, most of it isfor the animals, you see. Mrs.Flowers smi led beatifically and her face seemed to light up from within. They certainly enjoy it. But they dont enjoy the herbs I grow for putting on scrapes and cuts and sprains and such. And possibly they k in a flash Im a witch, too, since they continuously cast off me a bit of the garden for myself and perchance a guest or two.why are you telling me all of this now? Elena demanded. Why, thereve been times when I was looking for you, or for Stefan, when I thought well, never mind what I thought. But I wasnt always sure you were our friend.The truth is that Ive gotten solitary and antisocial in my old age. But now youve lost your young man, havent you? I wishing I had gotten up a bitty earlier this morning. Then I king have been able to say to him. He left the money for a years lease of the room on the kitchen table. Ive always had a soft spot for him, and thats the truth.Elenas lips were trembling. Matt hurriedly and heroically lifted his wounded arm. discount you sponsor at all with this? he asked, peeling the Ace bandage past again.Oh, my, my. And what sort of critter gave you these? Mrs. Flowers said, examining the scratches while the three girls winced.We think it was a malach, Elena said quietly. Do you make out anything somewhat those?Ive heard the word, yes, but I dont kip down anything specific. How long ago did you get them? she asked Matt. They look more deal tooth countenance than claw marks.They are, Matt said grimly, and he described the malach to her as vanquish he could. It was partly to keep himself distracted, because Mrs. Flowers had picked up one of the gleaming instruments from the cookie tray and was starting to do things to his red and swollen arm.Hold as still as you can on this towel, she said. These have al supple scabbed over, but they fate to be opened and drained and cleaned out properly. Its going to have. Why dont one of you young women hold his hand to help keep his arm steady?Elena started to stand but comely b eat her to it, almost bouncing over Meredith to take Matts hand in both of her own.The draining and cleaning were painful, but Matt managed to bear it without making a sound, even giving Bonnie a sort of sickly grin as blood and pus trickled out of his arm. The lancing hurt at first, but the release of drive felt good, and when the wounds were drained and clean and then packed with a cold herbal compress, they felt blessedly cool and ready to heal properly.It was while he was try to thank the old woman that he noticed Bonnie staring at him. In particular, at his neck. Suddenly she giggled.What? Whats louche?The bug, she said. It gave you a hickey. Unless you did something else withstand night that you didnt tell us close.Matt could feel himself tear down as he pulled his collar up higher. I did tell you roughly it, and it was the malach. It had a sort of tentacle with suckers around my neck. It was assay to exit meI remember now, Bonnie said meekly. Im sorry.Mrs. Flowers even had an herbal ointment for the mark the sucker tentacle had left and one for Matts scraped knuckles. aft(prenominal) shed applied them, Matt felt so good that he was able to look sheepishly at Bonnie, who was watching him with big brown look.I know, it does look like a hickey, he said. I axiom it this morning in the mirror. And Ive got other one lower down, but at least my collar covers that one. He snorted and reached into his shirt to apply more ointment. The girls laughed a release of the emphasis that theyd all been feeling.Meredith had started back up the destine stairway to what everyone still thought of as Stefans room, and Matt automatically followed her. He didnt assure that Elena and Bonnie were hanging back until he was halfway up the stairs, and then Meredith motioned him onward.Theyre scarce conferring, Meredith said, in her quiet, no-nonsense vowelize.Aboutme ? Matt swallowed. Its close to that thing Elena adage inside Damon, even out? The invisible m alach. And whether or not Ive got one inside me rightfield now.Meredith, never one to soft-pedal anything, merely nodded. But she put a hand briefly on his shoulder as they entered the dim, high-ceilinged bedroom.in short after, Elena and Bonnie came up, and Matt could tell at once by their faces that the finish off-case scenario wasnt true. Elena saw his grimace and immediately went to him and haleged him. Bonnie followed, more shyly. relish okay? Elena said, and Matt nodded.I feel fine, he said. Like wrestling alligators, he thought. no.hing was nicer than hugging soft, soft girls.Well, the consensus is that you dont have anything inside you that doesnt belong there. Your aura seems clear and strong now that youre not in pain.Thank God, Matt said, and he meant it.It was at that moment that his mobile phone rang. He frowned, puzzled at the fig displayed, but he declarationed it.Matthew Honeycutt?Yes.Hold, please.A new sound came on Mr. Honeycutt?Uh, yeah, but This is Ri ch Mossberg of the Fells church Sheriffs Department. You called this morning to state a move shoe manoeuver midway down Old Wood Road?Yes, I Mr. Honeycutt, we dont like prank calls of this sort. We frown upon them, in event. It takes up the valuable time of our officers, and besides, it happens to be a crime to make a fictive report to the police. If I cherished to, Mr. Honeycutt, I could charge you with this crime and make you dissolve to a judge. I dont see provided what you find so amusing about it.I wasnt I dont findanything amusing about it Look, last night Matts voice trailed off. What was he going to say?Last night I was waylaid by a tree and a monster bug? A small voice inside him added that the Fells perform Sheriffs officers seemed to spend most of their valuable time hanging around the Dunkin Donuts in the city square, but the next speech he heard shut it up.In fact, Mr. Honeycutt, under the authority of Virginia State Code, Section 18.2-461, making a false police report is punishable as a clique 1 misdemeanor. You could be looking at a year in incarcerate or a twenty-five- constant of gravitation-dollar fine. Do you findthat amusing, Mr. Honeycutt?Look, I Do you, in fact,have twenty-five thousand dollars, Mr. Honeycutt?No, I I Matt waited to be cut off and then he realized that he wasnt going to be. He was sailing off the edge of the single-valued function into some unknown region. What to say?The malach took the tree onward or maybe it travel by itself ? Ludicrous. Finally, in a delinquent voice he managed, Im sorry they didnt find the tree. Maybesomeways it got moved.Maybe somehow it got moved, the sheriff repeated expressionlessly. In fact maybe somehow it moved itself the way that all those occlusion signs and yield signs keep woful themselves away from intersections. Does that ring a bell, Mr. Honeycutt?No Matt felt himself flush deeply. I would never move any kind of street sign. By now the girls were clustered aro und him, as if they could somehow help by appearing as a group. Bonnie was gesturing vigorously, and her indignant expression made it clear that she wanted to tell the sheriff off personally.In fact, Mr. Honeycutt, Sheriff Mossberg cut in, we called your home number first, since thats the phone you used to place the report. And your render said that she hadnt seen you at all last night.Matt ignored the bitty voice that wanted to snap,Is that a crime? That was because I got held up By a self-propelled tree, Mr. Honeycutt? In fact we had already had another call about your house last night. A member of Neighborhood gain reported a suspicious car roughly in front of your house. correspond to your mother, you recently totaled your own car, isnt that right, Mr. Honeycutt?Matt could see where this was going and he didnt like it. Yes, he heard himself say, while his mind worked desperately for a plausible ex fancyation. I was trying to avoid running over a fox. And Yet there was a re port of a brand new Jaguar lingering in front of your house, precisely far enough away from the streetlight to be inconspicuous. A car so new that it had no liberty plates. Was that, in fact, your car, Mr. Honeycutt?Mr. Honeycutts my father Matt said desperately. Im Matt. And it was my friends car And your friends name is?Matt stared at Elena. She was making wait gestures, obviously trying to think. To sayElena gigabit would be suicidal. The police, of all people, knew that Elena Gilbert was dead. like a shot Elena was pointing around the room and mouthing words at him.Matt shut his eyes and said the words, Stefan Salvatore. But he gave the car to his girlfriend? He knew he was death his sentence so that it sounded like a question, but he could hardly study Elenas coaching.Now the sheriff was beginning to sound drop and exasperated. Areyou askingme , Matt? So you were driving the immaculate car of your friends girlfriend. And her name is? in that respect was a brief moment when the girls seemed to disagree and Matt hung in limbo. But then Bonnie threw her arms up and Meredith moved forward, pointing to herself.Meredith Sulez, Matt said weakly. He heard the disinclination in his own voice and he repeated, huskily but with more conviction, Meredith Sulez.Now Elena was whispering rapidly in Merediths ear.And the car was purchased where? Mr. Honeycutt?Yes, Matt said. Just a turn He put the phone into Merediths outstretched hand.This is Meredith Sulez, Meredith said smoothly, in the polished, relaxed tones of a virtuous music disk jockey.Miss Sulez, youve heard the conversation so far?Ms.Sulez, please, Sergeant. I have.Did you, in fact, lend your car to Mr. Honeycutt?I did.And where is Mr. there was a shuffling of motif Stefan Salvatore, the original owner of the car?Hes not asking her where they bought it, Matt thought. He moldiness know.My boyfriend is away from town right now, Meredith said, still in the same refined, imperturbable voice. I dont know when hell be back. When he is, shall I have him call you?That might be wise, Sheriff Mossberg said dryly. These days very few cars are bought with cash on the line, especially brand-new Jaguars. Id like your drivers permit number, also. And, in fact, Id very much like to speak to Mr. Salvatore when he returns.That may be very soon, Meredith said, a bit slowly, but following Elenas coaching. Then she recited her drivers license number from memory.Thank you, Sheriff Mossberg said briefly. That allow be all for May I just say one thing? Matt Honeycutt would never, ever remove preventive signs or yield signs. Hes a very painstaking driver and was a leader in his high school class. You can speak to any of Robert E. Lee High Schools teachers or even the principal if shes not on vacation. Any one of them will tell you the same thing.The sheriff didnt seem to be impressed. You can tell him from me that Ill be safekeeping an eye on him in the future. In fact it might be a good idea if he stopped in the Sheriffs Department now or tomorrow, he said, and then the phone went dead.Matt let out out, Stefans girlfriend? You, Meredith? What if the car dealer says the girl was a blond? How are we going to work that out?We arent, Elena said simply from behind Meredith. Damon is. each(prenominal) we have to do is to find him. Im sure he can take care of Sheriff Mossberg with a little mind control if the price is right. And dont care about me, she added gently. Youre frowning, but everything is going to be fine.You believe that?Im sure of it. Elena gave him another hug and a kiss on the cheek.Im suppose to stop by the Sheriffs Department right away or tomorrow, though.But not simply Bonnie said, and her eyes were sparkling with indignation. And when Damon goes with you, Sheriff Mooseburger will end up being your best friend.All right, Meredith said. So what are we doing today?The problem, Elena returned, tapping an index finger against her upper lip, is that weve got too many problems at once and I dont want anybody and I mean anybody going out alone. Its clear that there are malach in the Old Wood, and that theyre trying to do unfriendly-type things to us. Kill us, for one.Matt basked in the fast relief of being believed. The conversation with Sheriff Mossberg had shaken him more than he wanted to show.So we make up task forces, Meredith said, and we infract the jobs between them. What problems do we need to plan for?Elena ticked off the problems with her fingers. One problem is Carolean. I really think soulfulness should try to see her, at the very least to try and find out if she has one of thosethings inside her. Another problem is Tami and who knows who else? If Caroline iscontagious somehow, she might have outflank it to some other girl or guy.Okay, Meredith said, and what else?Someone needs to contact Damon. interpret to find out from him anything he knows about Stefan leaving, and also try to get him to go in to headquarte rs with us to specify Sheriff Mossberg.Well, youd better be on that last team, since youre the only one Damons likely to prate to, said Meredith. And Bonnie should be on it, so she can keep No. No Calling today, Bonnie pleaded. Im so sorry, Elena, but I just cant, not without a day of rest between. And besides, if Damon wants to call down to you, all you need to do is to manner of walking notinto the forest, butnear it and call to him yourself. He knows everything thats going on. Hell know youre there.Then I should go with Elena, Matt reasoned. Since that sheriff is my problem. Id like to go by the place where I saw the tree At once there was a disagree from all three girls.I said Idlike to, Matt said. Not that we should plan for it. Thats one spot we know is too dangerous.All right, Elena said. So Bonnie and Meredith will visit Caroline, and you and I will go Damon hunting, all right? Id rather go Stefan hunting, but we just dont have enough breeding yet.Right, but before you go, maybe stop by Jim Bryces house. Matt has an excuse to stop by anytime he knows Jim. And you can contain on Tamis progress as well, Meredith suggested.Sounds like plans A, B, and C, Elena said, and then, spontaneously, they all laughed.It was a clear day, with a hot sun shining overhead.In the sunlight, despite the minor annoyance of Sheriff Mossbergs call, they all felt strong and capable.None of them had any idea that they were about to walk into the worst nightmare of their lives.Bonnie stood back as Meredith knocked at the front door of the Forbes home. afterward a while of no answer and silence inside, Meredith knocked again.This time Bonnie could hear whisperings and Mrs. Forbes hissing something, and Carolines distant laughter.Finally, just as Meredith was about to ring the bell the tip of discourtesy between neighbor and neighbor in Fells Church the door opened. Bonnie neatly slipped a foot in, keeping it from being shut again.Hi, Mrs. Forbes. We just Meredith f altered. We just wanted to see if Caroline was any better, she finished in a tinny-sounding voice. Mrs. Forbes looked as if shed seen a ghost and shed spent all night running from it.No, shes not. Not better. Shes still sick. The womans voice was hollow and distant and her eyes scanned the ground just over Bonnies right shoulder. Bonnie felt fine hairs on her arms and the back of her neck stand up.Okay, Mrs. Forbes. Even Meredith sounded false and hollow.Then someone said suddenly, Areyou all right? and Bonnie realized it was her own voice.Carolineisnt well. Shesnot seeing anyone, whispered the woman.An iceberg seemed to playground slide down Bonnies spine. She wanted to turn and run from this house and its aura of malevolence. But at that moment Mrs. Forbes suddenly slumped. Meredith was barely able to break her fall.Shes fainted, Meredith said tersely.Bonnie wanted to say,Well, put her on the rug inside and run But they could hardly do that.Weve got to take her inside, Meredith said flatly. Bonnie, are you okay to go?No, Bonnie said just as flatly, but what choice do we have?Mrs. Forbes, small as she was, was heavy. Bonnie held her feet and followed Meredith, step by reluctant step, into the house.Well just put her on her bed, Meredith said. Her voice was shaky. There was something about the house that was terribly unsettling as if waves of pressure kept bearing down on them.And then Bonnie saw it. Just a glimpse as they stepped into the living room. It was down the hallway, and it could have been the play of light and shadow there, but it looked for all the world like a person. A person scuttling like a lounge lizard but not on the floor. On the ceiling.