Georgia Atlantic Company Essay

During the depression of the 1930s, Ben Jenkins, Sr., a wealthy, expansion-oriented poundman whose family had been in the pound up business in the southeastern United States for several generations, began to acquire small, gloomy sawmills and wholesale timbre companies. These businesses prospered during World War II. After the war, Jenkins anticipated that the entreat for lumber would surge, so he aggressively sought new timbrelands to add together his sawmills. In 1954, all of Jenkinss companies were consoli dated, a broad with some other single-handed lumber and milling companies, into a single corporation, the gallium Atlantic Company.By the quit of 1992, atomic number 31 Atlantic was a major force in the lumber industry, though not one of the giants. Still, it possessed more timber and timberlands in relation to its use of timber than any other lumber troupe. Worldwide demand for lumber was strong in spite of a soft world economy, and its timber supply should support p ut atomic number 31 Atlantic in a good spatial relation. With its assured supply of pulpwood, the phoner could run its mills at a steady charge per unit and, consequently, at a low per-unit production cost. However, the fraternity does not acquire adequate manufacturing capacity to fully utilize its timber supplies so it has been forced to divvy up raw timber to other lumber companies to generate cash flow, losing authorisation profits in the process.Georgia Atlantic has enjoyed rapid growth in both sales and additions. This rapid growth has, however, caused some pecuniary problems as indicated in Table 1. The condensed balance sheets sh give in the table reveal that Georgia Atlantics financial leverage has increased substantially in the populate 10 years, while the wets liquidity position markedly deteriorated over the said(prenominal) period. Remember, though, that the balance sheet figures reflect diachronic costs, and that the market values of the assets could be mu ch higher than the values shown on the balance sheet.For example, Georgia Atlantic purchased 10,000 acres of cut timberland in southern Georgia in 1961 for $10 per acre, then planted trees which be now mature. The value ofthis acreage and its timber is estimated at $2,750 per acre, even though it is shown on the wholes balance sheet at $230 per acre, the pilot program $10 plus capitalized planting costs. Note alike that this particular asset and others like it have produced zero account income indeed, expenses associated with this acreage have produced accounting losses.When Georgia Atlantic was originally organized, most of the outstanding burgeon forth was owned by the senior Jenkins and members of his family. Over time, however, the familys ownership position has stepwise declined due to the sale of new common blood line to fund expansion. In 1987, Ben Jenkins, Sr. died the presidency of the firm was passed to his son, Ben Jenkins, Jr., who was 61 at the time. By the end of 1992, the Jenkins family held only active 35 percent of Georgia Atlantics common stock, and this represented essentially their entire net worth.The family has sought to pay the firms growth with internally generated funds to the greatest purpose possible. Hence, Georgia Atlantic has never declared a cash dividend, nor has it had a stock dividend or a stock split. Due to the plowback of earnings, the stock presently nark dos for almost $2,000 per share. The family has stated a strong belief that investors prefer low-payout stocks because of their revenue advantages, and they overly think that stock dividends and stock splits serve no utilitarian purposethey merely create more pieces of paper but no incremental value for share stand firmers.Finally, the family feels that higher- wrongd stocks are more attractive to investors because the percentage brokerage commissions on small purchases of higher-priced stocks are lower than on vast purchases of lower-priced shares. They honorable mention the example of Berkshire-Hathaway, whose stock price has risen phenomenally even though it now sells for over $15,000 per share and pays no dividends. (The family does acknowledge, though, that Warren Buffett, Berkshires chairman, has through a superb job of managing the companys assets, and that the rise of its stock price reflects that factor as considerably as Buffetts financial policies.)As the date for Georgia Atlantics annual stockh disuseders coming together approached, Mary Goalshen, the corporate secretary, informed Ben Jenkins, Jr., who is commonly called junior at the company, that an unusually low number of shareholders had sent in their proxies. Goalshen felt that this might be due to rising discontent over the firms dividend constitution. During the last two years, the average payout for firms in the paper and forest products industry has been about 35 percent yet for the 58th straight year, Georgia Atlantics board, under the Jenkins familys do minance, chose not to pay a dividend in 1992.The Jenkins family was in any case aware that several reports in the financial press in young months indicated that Georgia Atlantic was a possible target of a putsch attempt. Since the family did not fatality to lose control of the company, they were anxious to keep the firms stockholders as happy as possible. Accordingly, third-year announced that the directors would hold a special come across immediately after the annual meeting to get whether the firms dividend policy should be changed.Junior instructed Abe Markowitz, Georgia Atlantics financial vice president, to identify and then gauge alternative dividend policies in preparation for the special board meeting. He asked Markowitz to consider cash dividends, stock dividends, and stock splits. Markowitz then identified six proposals that he thought deserved further consideration(1) No Cash Dividends, No Stock Dividend or Split. This was the position Markowitz was certain that Ju nior and the family would support, both for the reasons devoted above and also because he thought the company, as evidenced by the balance sheet, was in no position to pay cash dividends.(2) flying Cash Dividend, but No Stock Dividend or Split. This was simply the verso of the no dividend policy. If a cash dividend policy were instituted, its size would still be an issue.(3) Immediate Cash Dividend plus a humongous Stock Split. The stock split would be designed to lower the price of the firms stock from its current price of almost $2,000 per share to somewhere in the average price range of other large forest products stocks, or from $20 to $40 per share.(4) Immediate Cash Dividend plus a Large Stock Dividend. The reasoning underlying this policy would be essentially the same as that of Alternative 3.(5) Cash Dividend, Stock Split, and Periodic Stock Dividends. This policy would require the company to declare an immediate cash dividend and, simultaneously, to announce a sizable s tock split. This policy would go further than Alternatives 3 and 4 in that, after the cash dividend and stock split or large stock dividend, the company would periodically declare smaller stock dividends cope with in value to the earnings retained during the period. In effect, if the firm acquire $3 per share in any given period-quarter, semi-annual period, and so onand retained $1.50 per share, the company would also declare a stock dividend of a percentage amount equal to $1.50 divided by the market price of the stock. Thus, if the firms shares were selling for $30 when the cash dividend was paid, a 5 percent stock dividend would be declared.(6) Share Repurchase Plan. This plan is base on the premise that investors in the aggregate would like to see the company distribute some cash, but that some stockholders would not want to gather up cash dividends because they want to minimize their assesses. Under the repurchase plan, individual stockholders could find out for themselve s whether or not to sell some or all of their hares and thus to realize some cash and some capital gains, depending on their own situations.To begin his evaluation, Markowitz collected the data shown in Tables 2 and 3. As he was looking over these figures, Markowitz wondered what effect, if any, Georgia Atlantics dividend policy had on the companys stock price as compared to the prices of other stocks. Markowitz is also aware of one other issue, but it is one that neither he nor anyone else has had the nerve to bring up. Junior is now 66 years old, which is simply ancient but he is in poor health, and in late years he has been almost obsessed with the idea of avoiding taxes.Further, the federal terra firma tax rate is currently 60 percent, and additional state kingdom taxes would be due so well over half of Juniors net worth as of the date of his death leave behind have to be paid out in realm taxes. Since estate taxes are based on the value of the estate on the date of death, to minimize his estates taxes, Junior might not want the value of the company to be maximized until after his death. Markowitz does not know Juniors view of this, but he does know that his tax advisors have thought it through and have explained it to him.Finally, Markowitz knows that several Wall Street firms have been analyzing Georgia Atlantics dissipation value, or the value of the company if it were broken up and sold in pieces. He has heard breakup value estimates as high as $3,500 per share, primarily because other lumber companies, including Japanese and European companies, are eager to buy prime properties such as those owned by Georgia Atlantic. Of course, Georgia Atlantic could sell assets on its own, but Markowitz does not expect that to happen as long as Junior is in control.Now assume that you are an out of doors consultant and have been hired by Abe Markowitz to help him with the analysis and train a presentation to the executive committee. First, Abe is not sure whether an announced dividend policy is a good idea. He believes an announced policy could cause the firm to feel forced to take actions that otherwise would be undesirable. He has also expressed concern about signaling and clientele effects. As old man Jenkins used to say, If it aint broke, dont fix it.Thus, analyze the firms present dividend policy to determine how well the company has performed compared to other firms in the industry before discussing the implications of the alternative dividend policies and fashioning a recommendation. Markowitz also wants you to discuss whether the firms historical rate of return on investment has been affected by its dividend policy, the estate tax issue, and the takeover issue.Junior is famous for asking tough questions and then crucifying the soulfulness being questioned if he or she has trouble responding. That is probably why Markowitz wants you to make the presentation. So be sure that you thoroughly understand the issues and your answ ers so that you stomach handle any follow-up questions that you might receive.

American and French Revolutions

A watershed event in new-fang take-made European history, the french diversity began in 1789 and ended in the late 1790s with the ascent of cat sleep Bona articulatione. During this period, french citizens razed and redesigned their countrys political layscape, uprooting centuries-old institutions such as absolute monarch just nowterflyy and the feudal system. Like the American transformation before it, the french vicissitude was influenced by Enlightenment ideals, particularly the apprehensions of popular s e actu every(prenominal)yplaceeignty and nontransferable rights.Although it failed to achieve all of its goals and at times degenerated into a chaotic bloodbath, the impetus played a critical role in shaping modern nations by showing the world the force-out inherent in the pull up stakes of the plenty. Prelude to the cut change Monarchy in Crisis As the 18th vitamin C drew to a close, Frances costly involvement in theAmerican conversionand extravagant spendi ng by KingLouis XVI(1754-1793) and his trumpeter had left the country on the brink of bankruptcy.Not only were the majestic c arrive aters depleted, solely both decades of scummy cereal harvests, drought, cattle disease and skyrocketing bread prices had ignited unrest among peasants and the urban poor. Mevery expressed their desperation and resentment toward a regime that imposed heavy taxes yet failed to provide relief by rioting, looting and striking. In the fall of 1786, Louis XVIs controller prevalent, Charles Alexandre de Calonne (1734-1802), proposed a financial reform package that included a universal land tax from which the privileged carve upes would no longer be relinquish.To garner get for these measures and forestall a growing aristocratic revolt, the king summoned the Estates-General (les etats generaux)an assembly re playing Frances clergy, nobility and middle classfor the number one time since 1614. The worthying was plan for May 5, 1789 in the meantime, de legates of the three estates from each locality would compile lists of grievances (cahiers de doleances) to present to the king. The French rotation at Versailles Rise of the Third Estate Frances population had changed considerably since 1614.The non-aristocratic members of the Third Estate now represented 98 percent of the people but could still be turn outvoted by the different twain bodies. In the lead-up to the May 5 meeting, the Third Estate began to rebound support for equal representation and the abolishment of the noble vetoin other(a) words, they wanted voting by head and non by status. While all of the orders shared a common desire for financial and judicial reform as easily as a much representative form of government, the nobles in particular were loath to give up the privileges they enjoyed under the tralatitious system.By the time the Estates-General convened at Versailles, the highly public reason over its voting process had erupted into hostility in the m idst of the three orders, eclipsing the captain purpose of the meeting and the authority of the man who had convened it. On June 17, with talks over procedure stalled, the Third Estate met alone and formally adopted the denomination of case Assembly three days ulterior, they met in a near indoor tennis court and took the so-called Tennis Court condemnation (serment du jeu de paume), vowing non to disperse until constitutional reform had been achieved.Within a week, most of the clerical deputies and 47 liberal nobles had joined them, and on June 27 Louis XVI grudgingly absorbed all three orders into the new assembly. The French Revolution Hits the Streets The Bastille and the big Fear On June 12, as the case Assembly (kn give birth as the national Constituent Assembly during its work on a constitution) continued to meet at Versailles, fear and abandon consumed the capital. Though enthusiastic about the modern breakdown of royal violence, genus Parisians grew panicked as rumors of an impending military coup began to circulate.A popular insurgency culminated on July 14 when rioters stormed the Bastille fortress in an move to secure gunpowder and weapons many consider this event, now commemorated in France as a national holiday, as the start of the French Revolution. The wave of rotatory fervor and widespread hysteria quickly swept the countryside. Revolting against geezerhood of exploitation, peasants looted and burned the homes of tax collectors, landlords and the seigniorial elite.Known as the Great Fear (la Grande peur), the agrarian insurrection hastened the growing exodus of nobles from the country and godly the National Constituent Assembly to abolish feudalism on August 4, 1789, signing what the historian Georges Lefebvre later called the death certificate of the old order. The French Revolution Turns Radical Terror and Revolt In April 1792, the newly elected legislative Assembly declared war on Austria and Prussia, where it believed t hat French emigres were building counter transmutationist alliances it as well hoped to spread its revolutionary deals across Europe through warfare. On the domestic front, meanwhile, the political crisis took a radical turn when a crowd of insurgents led by the extremist Jacobins attacked the royal residence in Paris and arrested the king on August 10, 1792. The following month, amid a wave of violence in which Parisian insurrectionists massacred hundreds of accused counterrevolutionaries, the Legislative Assembly was replaced by the National Convention, which proclaim the abolition of the monarchy and the establishment of the French republic.On January 21, 1793, it sent King Louis XVI, condemned to death for high treason and umbrages against the state, to the guillotine his wifeMarie-Antoinette(1755-1793) suffered the same fate ix months later. Following the kings execution, war with various European powers and needlelike divisions within the National Convention ushered the French Revolution into its most uncivilised and turbulent phase. In June 1793, the Jacobins seized control of the National Convention from the much mute Girondins and instituted a series of radical measures, including the establishment of a new calendar and the eradication of Christianity.They in like manner unleashed the bloody sway of Terror (la Terreur), a 10-month period in which suspected enemies of the revolution were guillotined by the thousands. Many of the killings were carried out under orders from Robespierre, who dominated the draconian Committee of Public Safety until his own execution on July 28, 1794. His death marked the beginning of the Thermidorian Reaction, a keep phase in which the French people revolted against the Reign of Terrors excesses. The French Revolution Ends Napoleons RiseOn August 22, 1795, the National Convention, composed largely of Girondins who had survived the Reign of Terror, approved a new constitution that created Frances first two-cham bered legislature. Executive power would lie in the hands of a five-member Directory (Directoire) ordained by parliament. Royalists and Jacobins protested the new regime but were swiftly silenced by the army, now led by a young and successful command named Napoleon Bonaparte (1769-1821). The Directorys four years in power were riddled with financial crises, popular discontent, inefficiency and, above all, political corruption.By the late 1790s, the directors relied some entirely on the military to maintain their authority and had ceded much of their power to the generals in the field. On November 9, 1799, as frustration with their leadership reached a fever pitch, Bonaparte staged a coup detat, abolishing the Directory and appointing himself Frances first consul. The event marked the end of the French Revolution and the beginning of the Napoleonic era, in which France would come to dominate much of continental Europe. Similarities America France rotatory Twins?The American an d French Revolutions were fought several years and an ocean apart. However, they rollick enough similarities that some people initially consider them mirror struggles. afterward all, there are some easy comparisons both revolutions occurred in the later eighteenth century. twain subverted an existing, monarchical government. Finally, both created ripe conditions for constitutionalism and deep patriotism. that dig more deeply, and youll find that this same revolution, different continent concept is not as tidy as it initially appears.Further similarities between the two revolutions are just different enough to produce profound distinctions between the two revolutions. Although most scholars believe that the two revolutions influenced one another (as well as had profound worldwide impact), each revolution is a very distinct and singular struggle for immunity, identity, and an improved way of life. Indeed, scholars have construct entire careers on this subject, and rich debate a nd information is available online or at your local library. However, here are a few extreme elements shared by the revolutions, with intricate but consequential differences highlighted CausesBoth the American Revolution and the French Revolution were borne of dire economic conditions. Economic challenges definitely contributed to the bum for both revolutions. However, each nations money-related woes were quite unique. The American Revolution had roots in the financial pressure that Britain placed on the raw(a) World because Britain was economically dependent on the colonies, it kept taxing them. However, the colonists didnt oppose the taxation itself. They were more vexed by the lack of a reasonable stern for the taxation, feeling that they received little or no benefit from their unds that were be spent back in the old country. This phenomenon commonly known as taxation without representationinfuriated the colonies, building the basis for their revolt. Classic images of hun gry, poverty-stricken French peasants are still familiar. Indeed, the pre-revolution French prudence was dismal and had been for decades. As a second-tier trading nation, France was unable to pay off national debts using the scant amount of money it received on the taxes for traded goods. To make up for this deficit, the King imposed further taxes, especially on the peasants.Paradoxically, the wealthiest nobles were not obligated to pay taxes. This allowed the King to successfully sell titles, pull the two affable classes further apart. So although the British tax-related woes were also tied(p) to royal greed and exploitative control, they were relatively common to any new colonist establishment. Frances case, while certainly tax-related, was more deeply grow in a historic division of social class. Although the rich and poor had long been separated, the Kings selling of titles completely isolated the two groups.This resulted in famine and extreme poverty for the lower classes, and left them no choice but to revolt. Goals Both revolutions were undertaken with the goal of independence in mind. The American Revolution was not initially or even primarily fought for independence. independency almost became a by-product of the colonists initial attempt to remove partial taxes levied on them by British Parliament. On the other hand, Frances decades of class division and its burgeoning interest in thinkers like Rousseau (who emphasized the importance of gentleman rights) sparked a popular interest in a more breakaway way of life.The influence of speeches, articles, and pamphlets from gifted writers and orators like revolution leaders Jacques-Pierre Brissot and Maximillien Robespierre also fueled this desire for freedom. Finally, the success of the American Revolution (and the colonists resulting independence from British rule) arguably acted as an incentive for revolt. American-French Relationships Both revolutions spurred a strong response from the other nat ion. Before 1789, most people (excluding the Americans of the new United States) lived with the general form of government their ancestors had known for centuries, sually hereditary monarchy. After the French Revolution began in 1789, no form of government could be accepted as legitimate without justification. The revolutionaries established a republic in 1792, and henceforth republicans some the world would challenge monarchists. Overall, the French Revolution offered the world something totally overbold an ideology that allowed and encouraged the questioning of historic power structures. This ideology borne of the French Revolution laid the groundwork for other ideologies, including nationalism, socialism, and eventually communism.In fact, archaean communistic leaders Karl Marx and Friedrich Engels both commented extensively on the French Revolution, hoping to find important lessons for building and governing communities. North Americans showed special interest in the French R evolution, believing the events of 1789 drew heavily on their own experience with Britain. The French closure of the Rights of Man and Citizen seemed to borrow strikingly from the states bill of rights. Even more direct influence took place when American Thomas Jefferson, resident in France at this time, passed along specific ideas to the legislators through the marquis de Lafayette.Although the French Revolution took a far different path than the North American variety, this fundamental interaction was close, so it is not surprising that the initial U. S. reaction to the French Revolution was positive. Not all Americans approved of the Frances methods. For example, bum Adams declared his early and ongoing dis sycophancy, and the Federalist societys support began to waver toward the Revolutions end. The Reign of Terror also did little to create American approval and drew criticism from some prominent American statesmen.However, the Jefferson-led Republican Party remained largely supportive throughout most of the revolutionary decade. Famous Documents Both revolutions produced similar and seminal political documents. The Declaration of the Rights of Man and of the Citizen was adopted in France in August 1789 by the National Constituent Assembly. Drafted by the Marquis de Lafayette, it was intended as part of a transition from an absolute to a constitutional monarchy, and presented the ideas of popular sovereignty and equal opportunity.This document, which defined a jell of universal individual and collective rights, was to be considered valid in all times, in all places, for all people. This novel way of thinking totally contradicted the traditional French idea of people being born into a nobility or into another favored class. It also eliminated the concept of people enjoying or being denied special rights based on family lineage of status, which all the way dismantled centuries of French ruling structure. The principles outlined in the Declaration spru ng from the theories of philosopher Jean-Jacques Rousseau and other Enlightenment thinkers.However, the French Declaration is at least partly inspired by the declaration of Human Rights contained in the U. S. Declaration of Independence, adopted on July 4, 1776, and on the Virginia Declaration of Rights, developed by American George Mason in June 1776, which was itself based on the English 1689 Bill of Rights. The Declaration of the Rights of Man also showed similarities to the United States Constitution (1787) and the United States Bill of Rights, which was adopted in 1789, at approximately the same time as the Declaration of the Rights of Man.Like the U. S. Constitution, The French Declaration provided for a national defense, and emphasized equality before taxation (which was distinctly different from traditional France, in which the Catholic Church and the nobility were exempt from most taxes). Like these American documents, Frances Declaration prohibits ex speckle facto applic ation of criminal law and proclaims the presumption of innocence to a crime suspect. Finally, the Declaration of the Rights of Man and the Citizen provides for freedom of speech and of the press, and addresses freedom of religion.The Declaration departs from seminal American documents in some important ways. Its vital to strain that the Declaration is largely individualistic. It focuses less on the rights of a political or religious group and more on the singular citizen, thus drift from Americas we the people stance. The Declaration also fails to address the freedom of assembly, liberty of association, or the right to strike, which were important American tenets. Differences Self-Identification and Independence * France was a well-established nation long before the French revolution. It was not facing any acute external dangers in the late 1780s.In contrast, the American revolution was a struggle for self-identification and independence from another nation. In France, the essenti al motive of the revolution was a stratification transformation of the society because the third estate proverb the clergy and the nobles as social parasites. Attitudes Toward Monarchy * The Americans were not anti-monarchists from the very start. They considered their rights as the British subjects were being violated, and their main complaints were aimed against the British Parliament. In France, the revolution was very much against the monarch and his power.Revolutionists saw the monarch as a traitor and acted aggressively toward the royal family. That led them to accuse the monarch of conspiracies against the French people, which in turn led to the execution of the royal family. Social Stratification * Social equality was not the main concern of the American revolution. Slavery was abolished in the Northern states, but it did not drastically influence the social stratification of American society. In France, the whole social structure was made up of three traditional estates cl ergy, nobles and others. The revolution transformed all of them.Elimination of the traditional privileges based on the social origin was the main goal of the French revolution. Revolution and Religion * The American patriots did want to break with the Church of England, but the American revolution was not driven by a religious goal. The French revolution was, and it pure(a) most of those goals. It eliminated the privileges of the clergy. Monasteries and churches were closed, the monks and nuns were encouraged to return to the private life. Many priests were killed. The Cult of power emerged during the revolution as part of the new Frances plan to de-Christianize the country.It stressed heaven and rationalism over the believe of a deity. Revolutionary Values and Mottos * John Locke formulated three basic values which were adopted by the American patriots life, liberty and property. They fought for the idea that governments were obliged to preserve these values. The French revoluti on proclaimed three values too liberty, equality and brotherhood, or death. The last part was adopted during the period of terror in 1793-1794. Thus, the common value shared by both revolutions was the pursuit of liberty.

Family Law

Family Law Essay Introduction * As societies become more diverse and complex the law needs to resound these changing accessible determine in order to remain further. * invoke something relating to given question. * State thesis Thus, family law is very effective/ hardly effective to an extent in * This is due to the success of law reforms that efficaciously address * However, this effectiveness is hindered by the limited falsifys made to include aforementioned(prenominal)-sex mating within contemporary legislation. Effective Divorce Divorce is the legal dissolution of a wedding party. The Australian family law placement has implemented significant law reforms that set the matter of fall apart in accordance to changing societal values. * preliminary to 1974, decouples applied under the Matrimonial Causes make out 1959 were on the ground of fault, which included 14 grounds such(prenominal) as infidelity, cruelty and renunciation whereby one or both spouses had to a dmit to their wrongdoing that undermined their divorce. Such submissions for divorce were perceived as genially immoral and thus those who took these actions were negatively judged by the community of interests.* However, in 1975, a major reform to family law occurred whereby the Family Law Act 1975 (Cth) was passed and introduced no fault divorce, where the only ground was irretrievable breakdown, which allowed couples to divorce after separation. * This idea of a 12 month separation closure with the intention to divorce was established in the Tye v Tye case. Ultimately, the reform change magnitude the accessibility of divorce and reduced the stigma attached with it. This fundamental change to divorce law was clearly a reaction to changing social values, where guild has accepted that people should not be left confine in an unhappy marriage, reinforcing the basic right to live in freedom. Effective domestic violence Domestic violence has been recognised as an ongoing social is sue and community-wide problem, rather than just a private matter. wherefore legislative reforms have effectively reflected these changing attitudes in he community through introducing further protection for victims of domestic violence as a means of improving previous legislation. * In the 1800s, domestic violence against women was satisfying as they were under ownership of men.* Over time the legal system has overcome these injustices in order to reflect the importance of individuals rights, through the introduction of the Crimes (Domestic and Personal Violence) Act 2007 (NSW) which amended the Crimes Act 1900 (NSW) as it provided extensive protection children and adults victims of domestic violence. Such protection predominately include understand Domestic Violence Orders (ADVOs) which are an effective means in lessen the incidence of domestic violence as they are a quick, sixpenny and accessible form of protection which is admited by full heaviness of the criminal law if breached. * The effectiveness of ADVOs is highlighted in the article, Girl died of starvation, neglect fasten (21/05/09, SMH) as this legal instrument had protected the lives of two children from suffering the same neglect as their deceased sister, at the hands of their parents. Ineffective Recognition of same-sex relationshipsAs society diversifies, there is an increasing acceptance of same-sex relationships which, however is not accurately reflected within the family legislation. * Initially, there have been progressive improvements to family law including the introduction of the Property (Relationships) formula Amendment Act in 1999 which changed the definition of de facto relationships to non-gender specific and the Same-sex Relationships (Equal Treatment in state of matter Laws General Law reform) Act 2008 removed discrimination in areas such as tax, superannuation, child support and social security. However, in 2004, the Commonwealth authorities reaffirmed the traditional concept of marriage in the Marriage Act 1961 (Cth) as the union of man and woman, which automatically forces same-sex marriage to be void in Australia.* The exclusion of same-sex marriage within family law demonstrates that there are fluid changes needed to be made in order to meet the injustices of current law. This demand for change is evident in the media article Gay marriage advocates rally around nation (12/05/12, AAP) which reports thousands of peaceful protestors across Australia rallied in support of same-sex marriage. From this article, it shows the family laws lack of improvements from previous laws that similarly failed to meet the values of society as communities are force to take extreme measures just to voice their basic right. Therefore, the exclusion of same-sex marriages in family law deems it as super ineffective in improving previous laws as it indicates the lack of gap made to meet changing social values.

Anh Van

So tourism is considered smokeless industry is more profitable. In addition, traveling solve a part of unemployment. According to World Tourism and Travel Council, in Vietnam. Employees directly involved in the tourism sector Is 1. 397 million pack, about 3% of the total national labor. Thus one large labor is non unemployed, save some pressure for the government. Finally, traveling contributed to introduce the surface area and people of Vietnam. When more people travel to Vietnam, they go out realize that Vietnam Is a country with many beautiful sign and safety.Then, theyll introduce Vietnam to their friend, their relatives. , and the more people give travel to Vietnam. In short, solving a part of unemployment, increasing scotch profit and contributing to Introduce the country and people of Vietnam are troika reason of the impact of traveling. So we should invest more for traveling to encourage economy. Topic what are some factor causing stress and how to spot with stress. Today, society is growing, and more and more workload. And human usually face stress. in that respect are many causes of stress such(prenominal) as continual working, environmental illusion. O we should take measures to cope with stress as regular exercise, embark In one of the recreation activities. Continuous working Is a major cause of stress. Works which have the specific characteristics require employees to work ceaselessly as nurses, soldiers, police . In addition, a number of people lessen to make more money so they should work continuously such as teachers, information technology, business. So, unintentional, we create stress for ourselves. Besides, environmental pollution to a fault contribute to our stress. Many of our very t OffSo that coping with stress, firstly we subscribe to exercise regularly. This helps us to relax after work, and help us calm down when we encounter difficult situations. Furthermore, we should participate in one of the diversion activities such as playing computer game, watching TV Sometimes, we hindquarters go out or go drinking with friends. In short, continuous working and environmental pollution are major cause of stress, so we should regular exercise or participate in one of the entertainment activities which can help us to cope with stress. Naturally, in each case, we will have suitable measure.

Advance Directives

What ar advance directives? Advance directives are extremely important. It is meaty that everyone make some sort of arrangement before an unfortunate detail happens to them where these decisions will need to be made. An advance directive is basically a living will or a written statement in which people state the type and amount of consider they offer to cod during a terminal illness and as death approaches.Medical Law and morality stated that Advance directives limit the type and amount of medical care and treatment that patients will receive if they should become incompetent and have a poor prognosis. It is important that directives are placed in writing it is non sufficient for a mortal to just tell someone what his or her wishes for treatment are. The courts typically enforce written advance directives. (pg 313) There are four types of advance directives.They are a living will, durable cater of attorney for health care, uniform anatomical gift act, and a do non resusc itate order. The living will is a archive that a person drafts before becoming incompetent or unable to make healthcare decisions. The durable power of attorney for healthcare is A legal document that empowers a nonher person (proxy) to make healthcare decisions for healthcare for an incompetent patient.It goes into effectuate after the person becomes incompetent and only pertains to healthcare decisions. The uniform anatomical gift act is a law that allows persons 18 years or older and of sound mind to make a gift of every part of their body for purposes of medical research or transplantation. The do not resuscitate order is an order placed into a persons medical chart or medical record. It indicates that the person does not wish to be resuscitated if breathing stops. (pg 103)

Romeo and Juliet : the Deaths of Mercutio and Tybalt

Romeo and Juliet symbolize 3, Scene 2 The deaths of Mercutio and Tybalt In the sterling(prenominal) play of all time The Tragedy of Romeo and Juliet by William Shakespeargon, tells the story of dickens star-crossed lovers who take their own lives. In Act 3, scene 1 spell Mercutio and Benvolio are joking around they are interrupted by around Capulets including Tybalt, who is looking for Romeo. When Romeo arrives he tries to make peace with Tybalt, but Mercutio feeling his booster shot has been insulted challenges Tybalt to fight. Romeo tries to stop the fight between the two men and Mercutio is wounded.As he dies, Mercutio curses some(prenominal)(prenominal) houses. Romeo furious by his friends death turns and attacks Tybalt killing him. When the prince arrives, Benvolio tells everything that had happen. As a penalisation for the death of his dear cousin the prince banishes Romeo, saying that he result be killed within the hour if he is found in Verona. The people who are th e most to blame for the deaths of Tybalt and Mercutio are the Capulets and the Montagues. two houses, The Montagues and The Capulets are to blame for the deaths.For pattern in the prologue of act 1 scene ,line 3 it states From Ancient resentment break to new mutiny A families old hatred will still affect lives today. This inverted comma proves that both houses dont same(p) each other and over the years hate has been construct up affecting others lives. Another example would be found in Act 3, Scene 1, and Line 100, A plague on both of your houses They befool made worms meat of me. I pee it, and soundly too. Your houses this quote says that Mercutio blames both houses for his death saying you have made worms meat out of me.This quote shows that everyone blames both families for anything that has happen to them. In conclusion both the Montagues and the Capulets are to blame. Both houses are responsible for the deaths of Tybalt and Mercutio. With all of their constant fighting and hate building up on top of hate they are bound to be doomed. If the Capulets and the Montagues dont make up now later on the will have to pay a huge price. They may have thought the Princes declaration was worse they would just have to confine on acting like a bunch of children and their actions would soon recognise back to haunt them.

Novartis Pharmaceutical Gender Discrimination Class Action Lawsuit

Amy Velez, et al. , v. Novartis Pharmaceuticals Corp. is oneness of the largest gender favouritism causal agencys ever to go to trial. The class action lawsuit claimed Novartis Pharmaceuticals (NPC) practiced sex discrimination against womanish employees under Title heptad of the Civil Rights Act of 1964 (Wilson 2010). The plaintiffs are nineteen women presently or formerly employed by NPC in sales related positions. They claimed the NPC discriminated against them in motley ways, including compensation, promotion and promotional opportunities, personnel evaluations and by adverse treatment of women who take out maternity leave.They seek injunctive relief, back pay and front pay, and compensatory and punitive remedy (US District Court Document). The class action lawsuit later grew to imply 6,200 women employed by NPC. The time period of the discrimination was from 2002-2007 Amy Velez, who had twins in 2001 claimed she was repeatedly passed over for promotions by men who had i nferior sales numbers. She also claims to wear overheard a manager asking recruiters prospective employees were married or had children. Wilson 2010). Another woman claims she was told by a manager that he prefers not to hire younger women saying First comes Love, then comes marriage, then comes wriggle time and a baby carriage. (Wilson 2010). In addition, the plaintiffs claim that men in the same positions earned more money than women in the save positions. The lowest approval of the settlement was November 19, 2010. The settlement, which totaled $175 meg, included $152. million in back wages, benefits, and adjusted wages, service payments to named plaintiffs who helped litigate the case, and attorneys fees and costs, plus $22. 5 million in nonmonetary relief representing Novartiss commitments to revise its employment policies to eliminate sex discrimination (McGowan 2010).In response to the decision, according to NPCs web page As mathematical function of its commitment to f ostering a diverse and inclusive workforce, NPC is implementing comprehensive programs intentional to ensure that all members of its sales force are treated fairly. NPC unruffled denies these claims but admits some of its employees may have not followed company policy. NPC exit also substantially revising its human resources policies, revamping its personnel management systems, and fortify its commitment to ensuring gender equality in the work fundament These practices by NPC took place over a five year period between 2002-2007. The bitterness of the claims shows an escalating conflict. There were repeated offences. First here was awareness of differences a distich female employees knew they were being passed over for promotions. This continued to annoyance more female employees learned they were being continually passed over for promotions. Later to frustration when the female employees learned that certain managers were not hiring younger women or women with children. Next at that place was anger when sexist comments were made by management. This conflict finally escalated to hatred and war (war being the lawsuit).NPC could have avoided this class action lawsuit by making sure all their branches were following proper anti-discrimination procedures. Inappropriate comments by management should have been taken seriously by upper management. every(prenominal) employees should have been required to go to diversity training. Upper management should have looked more closely at the male/female promotion ratio. If wholly NPCs upper management would have been more in logical argument with their subordinates this costly lawsuit might have been avoided.