Shakespeares Use of Subplots in King Lear Essay

Shakespeares Use of Subplots in King Lear - Essay Example The author has rightly presented that King Lear main plot revolves around Lear’s bad decision making that sees him disowning his own daughter Cordelia who is faithful to him and awarding his two treacherous daughters Goneril and Regan with a portion of his immense wealth. The subplot kicks in when Earl Gloucester and his two controversial sons get introduced into the story of the play, the illegitimate Edmund and Edgar the loyal one. A clear relationship is seen between the main plot and the subplot by two characters who assume the leadership and fatherly role, King Lear and Earl of Gloucester, they are both deceived by their children. Characters that constitute the subplot in Earl of Gloucester, Edmund and Edgar touch on the reflection on the major acts such as betrayal and madness hence highlight major themes. In William Shakespeare’s King Lear subplot development elaborated by Earl Gloucester, Edmund and Edgar's characters has been influential in giving a strong sens e of resonance, contradiction and complication to the major themes of father-child relationship, reconciliation and good versus evil hence strengthening the fact that subplot as a literature tool is an important asset in plays or stories plot development and helps to boldly portray the important message intended. Resonance as a subplot aspect in ‘King Lear’ resonates or binds the subplot and main plot and helps in bringing out the major theme the play was intended to portray. Father-child relationship is seen to be twisted in both positive and negative way.

Gambling on College Sports Essay Example for Free

Gambling on College Sports Essay Gambling on College Sports BY jawz03 Segment 3 Essay November 7, 2012 What Are the Effects of Legal vs. Illegal Gambling on College Sports? IVe been a sports fanatic since the day I was born. It didnt matter if I was playing or watching or cheering, I Just loved being around the game. I have always been very knowledgeable about it too, as I was well known and titled by extended family as the stat man. This of course referred to the often times erroneous and useless facts rattling around in my brain that I couldnt help but show off. Needless to say, this topic means a lot to me, especially being a college football player myself. I couldnt pass up this opportunity to dig deeper into a topic that has lingered in our country for years. The issues that pertain to gambling on college athletics have a vast range of opinions that stem from the questions; should gambling on college athletics be legal? What are the effects it has on the college athletes? Some argue that it will be detrimental to the game and some argue it has little to no effect, however most land somewhere in the middle. A common Justification against gambling brings up the numerous scandals of players taking illegal benefits or point shaving and in extreme ases these events leading to Jail or death. This side also argues that it allows players to get mixed up with the wrong crowd and put themselves in danger. Arguments for gambling site the economic reach it has in our country and the illegality will shrink the economy as well as not protect the players any more. Many people on this side think it will not be stopped so if gambling on college sports is illegalized, then every form of it will be illegal causing more trouble. My goal is to reveal those opinions and create a more complex understanding from various viewpoints, and hopefully bring a mall degree of clarification to others and myself. In the article, Even at Columbia, Gambling And College Athletics Collide found in the New York Times, Jack Curry and Adam Gershenson enlighten the readers about the gambling infractions that occurred in a Columbia University fraternity house. The authors begin by describing the situation and basic details of the gambling process. (They) would accept bets on sporting events from dozens of other students and then phone in the wagers typically from $40 to $200 each to a gambling ring based in Queens and operated by people with links to organized crime (Curry and Gershenson). They go on to unravel the situation further by stating that there were not only college athletes betting on the games, but even current and former players living in the house that was tirelessly on the phone collecting wagers. Curry and Gershens on then discuss the further investigations done by Columbia and the NCAA and the possible disciplinary action that the offenders can face. The authors then write about the numerous amounts of sports gambling incidents in the last decade and also how students and athletes looked upon the Columbia gambling scandal with lesser importance because of the lack of athletic excellence. The presence of a ambling operation with connections to organized crime at a school whose football team is best known tor a 44-game losing streak in the 1980s seemed incongruous (Curry and Gershenson). An athlete was also quoted saying, Its not like this is Arkansas or something. This is Columbia. Curry and Gershenson conclude their article by including a nationwide 1996 survey of college Division one athletes that reveals 25 percent gambled on other college sports and four percent admitted to gambling on games they had played in. I believe this is an article with good overall quality, even though it was written about 14 years ago in 1998. The time period constraint may lead to questions of relevance to readers in 2012. However, I think if you t ake all the dates and years out of the article, the purpose is still fulfilled and relays the same messages. The intent of the article was to inform about the events of the Columbia gambling ring, the reaction around campus, and the nationwide relevance. The authors Jack Curry and Adam Gershenson, are fairly unknown writers as far as I am concerned but that doesnt take away from the quality of the article because it was included in The New York Times, which only adds credibility. For this reason, there would be a nationwide udience because of the shear number of readers. Specifically, the audience would probably be more of the businessman or woman, who are the stereotypical readers of The New York Times. The exigence of this piece was the arrest of gambling ring participants at Columbia but also the fact that these types of gambling scandals had been becoming more and more common in that time period. This was a very eye-opening article for me to read and by far the longest and most in depth. Since it was written 14 years ago, it is a story that I was previously unaware of. It made me even more aware then I already was, of how long this problem has ingered in college sports. It mentioned, more then once, that there are bookies on every campus in America. This really made me think about how unbelievable the number of illegal bets being placed by college students and athletes must be. However, even though this article is depicting the illegal gambling as a bad thing, I think it unintentionally makes arguments for both sides of the issue. If gambling on college sports were acceptable, this would have been a legal act. Hypothetically if it were legal, it would cut down on crime like this, which is usually linked to people with other criminal activity going on. Disconnecting the link to other criminal activity would make it all around safer for bookies and bet placers and athletes, because frankly, I think that people will never stop gambling on sporting events. I had always just assumed that gambling on college sports should be illegal, but this article made me reconsider whether that would really be the smartest and safest resolution. In the article NCAA threatens to move events out of New Jersey from Sportslllustrated. com, the unnamed author introduces the proposed plan to legalize sports gambling in New Jersey as well as reaction from sports organizations ationwide. The writer kicks off the article by stating background information about New Jerseys push to legalize sports wagering. The article then goes on to describe the reaction from sports organizations, and goes in depth on the quotes from NCAA officials as well as their threats to move all playoff games out of New Jersey. It is also mentioned that The NCAA, NFL, NBA, NHL, and MLB have collectively sued to block New Jerseys sports betting law from taking effect. However, there is also information and quotes from parties that are for the sports betting law. Quotes from State senator Raymond Lesniak and rnor Chris Christie demonstrate their support tor the new law. The article is concluded with talk of several new gambling options New Jersey is seeking to offer (NCAA Threatens). The author writes that these other options include in-state Internet gambling and the use of hand-held mobile gambling devices at the casinos as well as at horse tracks. I thought this article was fairly credible and factual as well. It did not have an author to add to credibility but being a Sports Illustrated article maintained its effectiveness. I believe this piece was intended to inform the audience of residents of New Jersey as well as pretty involved sports fans. People who would read Sports Illustrated would obviously Just be in it for the sports because that is the only information it obtains. This also acts as a constraint. The article cannot reach as much of the population because not everyone is a sports fan. The event that triggered this response was the attempt to make sports gambling legal in the state of New Jersey. My understanding of gambling in college sports was drastically upgraded by reading this article. It was an informative piece, so there was very little, if any, bias in the writing. The inclusion of statistics and legality of the topic really helped me understand why the sports organizations are hoping that the law will not pass. The shear amounts of money changing hands can lead to a lot of trouble, however for the same reason, legalizing that money could really boost economic growth. These types of pros and cons exist on both sides, making it an even tougher issue to sort out. My next source comes from a script from the testimony of Danny Sheridan before the Senate Commerce Committee on April 26, 2001. The testimony was for a hearing for the Amateur Sports Integrity Act (S. 18), which would determine the legality of gambling on college athletics. The first part of the testimony consists of Sheridan validating why his testimony should be considered by sharing his credibility and involvement in athletics. My name is Danny Sheridan, and I have been involved with sports and the sportsopromotion business for more than 25 years. I have published college and pro footballomagazines, written about sports in a variety of national publications, and have been theohost of a number of sports TV and radio shows Sheridan proclaims. Sheridan goes on to explain how he is also a friend of many high rofile athletes and he knows first hand the dangers that athletic gambling has on athletes. Sheridan also includes many statistics in his argument. An estimated 40 million Americans currently wager $6 billion illegally every weekend during the entire 20-week college and pro football season alone (Sheridan). The testimony is concluded by Sheridan stating that he appreciates the good intentions of trying to legalize gambling, but it would instead, result in negative effects. The rhetor, Danny Sheridan, is a very well known sports industrial component, which gives his testimony (and therefore my source) credibility. He presented this to the Senate Commerce Committee in hopes to persuade them to vote against legalization of gambling on sports. The fact that this is a testimony, instead of a highly publicized article restricts the extent his message. I found the script on his website, however it isnt an often visited site by the common Internet user, so the audience is a big constraint for this text. I found this testimony to be a great source for this project. It was interesting to read a text that wasnt Just a traditional article. My understanding tor the anti gambling side grew significantly, because it was so biased. The speaker does a great ob making his argument come full circle. For that reason, I came away from reading it with a slight lean towards supporting keeping gambling on sports illegal. Another interesting aspect is that this testimony was given in 2001. My previous source, about the gambling law in New Jersey, is a current issue, and the arguments made by Sheridan could simply be restated now with the same effects. It is astounding to see how such little progress has been made through the years. In the article Study Provides New Data on the Extent of Gambling by College Athletes, from netfiles. edu, Welch Suggs dissects a study done to determine the facts bout college athletes that gamble on sports. Suggs begins by introducing the parameters of the University of Michigan study that was released by the athletic department. The study, based on a survey of 758 football and basketball players, found that 72 percent of college football and basketball players had bet money at least once since entering college (Suggs). The author goes on to give further statistics that the survey revealed. Welch Suggs concludes the article with opposing viewpoint quotes from NCAA employee William Saum, and former NFL player Lynn Swann. Suggs last statement included next shifting attention to basketball referees o gain information about their gambling experiences. This was a questionable source to say the least. It had some solid content but the article opened as a PDF and my research failed to try and find the original homepage of the website. Likewise, the author was a mystery man as well. This text was very brief, but I believe the purpose was to inform about the findings of the survey revealed by the University of Michigan athletic department. However, the audience is hard to determine because of the unknown author and questionable website. If I were to pick an audience though, I would say it was intended for the adult college ports athlete because of the language and the inclusion of quotes from Lynn Swann. This text also has massive constraints, mainly for the same reasons as stated before. The website is random and in an odd format, therefore finding Suggs piece would be difficult to come across. The audience is extremely limited because of this, and the credibility suffers as well. Also, it did not include dates it the article, so the exigence of the piece suffers because the provoking event of the writing cannot be identified. The facts that are stated in this article hold strong relevance for this topic. It is more of an anti gambling article based on the information it presents, but it also gives a quote of the opposite viewpoint. Numbers dont lie, and the numbers from the study are very eye opening and convincing. It makes me think about how much gambling affects the games we love, without us even knowing. Since all the surveys were anonymous, nothing will develop in terms of punishment or solutions to the problem. In this sense, the article does a great Job persuading the reader. However, nowhere in the article did it give a date of the information or of when the article was ritten, so it is hard to put it in context and determine the importance. This, along with the briefness of the article, made it more difficult to shape my thinking about the topic. After analyzing the four sources included in this essay, I have yet to come to a concrete conclusion. I began researching the topic with the idea that gambling on college sports should be illegal and that all the ettects ot illegal gambling are bad. However, my research has muddied my view a little bit, which is actually a good thing because now I am informed more then I even have been. Being informed in such a ay makes me understand how this predicament has been able to linger around in our society and in our legal system for so long.

Waxing A Snowboard :: essays research papers

How to wax a snowboard   Ã‚  Ã‚  Ã‚  Ã‚  There several ways to go about waxing a snowboard. Firs you have to determine what conditions you will be riding in. Then you will have to choose a wax. Say you are going to Vail and the snow condition are.... well lets just say the temp.. of the snow is about 20*. Well the thing you need to do is find a low temp. wax. The way you determine a low temp. wax from a high temp. wax is by the rating.. Low temp. waxes will be in a range from -20* to about 25*. A high temp. wax will be in a range from about 25* to 40*. There are waxes made for higher conditiond above 45* that are used in conditions that are referred to as, summer conditions. The wax that is used in summer conditions is a harder wax that will protect your board from sand, dust, and ice crystals.   Ã‚  Ã‚  Ã‚  Ã‚  If you are riding in low temp. conditions with a high temp wax your performance will not be that good. If the conditions are going to go back and forth in temp. you should wax your board with a low temp. wax or you can use a wax that can be used in all temps. WAXING INSTRUCTIONS FOR HOT WAXING   Ã‚  Ã‚  Ã‚  Ã‚  1. Select wax or waxes for correct snow temperature and condition.   Ã‚  Ã‚  Ã‚  Ã‚  2. Use in a well-ventilated area or with a respirator. (Only if you are hot waxing)   Ã‚  Ã‚  Ã‚  Ã‚  3. Heat iron below the 'smoking iron'; temperature.   Ã‚  Ã‚  Ã‚  Ã‚  4. Melt the smallest end of the wax on the iron and drip all over the snowboard.   Ã‚  Ã‚  Ã‚  Ã‚  5. Smooth out drips with iron.   Ã‚  Ã‚  Ã‚  Ã‚  6. Let wax completely dry then scrape with a plastic or metal scraper.   Ã‚  Ã‚  Ã‚  Ã‚  7. Buff wax with a buffing pad. IF YOU ARE DOING A RUB ON WAS YOU WILL NEED TO FALLOW THESE INSTRUCTIONS

Integrating Technology for Better School Security Essay -- essays pape

Integrating Technology for Better School Security Using new technology for better school security is not always easy because it is difficult to address the correct problem with the right equipment, there also exists economic issues, and mental unrest among staff and students. School safety is an issue that has been concerning this country for many years. With the populations of our schools growing, the crime rates with in them have been as well. The student to staff ratio has greatly increased and there are concerns on how to regulate student behavior as well as crime prevention among students. Along with regulating student behavior, more security issues need to be addressed in order to maintain a safe school. For example, more schools have now been upgraded with better computer systems for the staff and students. Students now have computers in every classroom and better equipment for their specific classes. This new equipment is very costly and it is a long process for the school district to obtain. School security measures need to be taken to avoid the theft or damage of these new, expensive technologies. More needs to be considered before resorting to extreme measures of security for schools. The issue that the specific school is facing must be addressed in the correct fashion. Meaning that an analysis of the school and every aspect of it must be taken. The schools budget must be looked at, as well as history of misconduct and/or crime. A school’s financial situation must be one of the most important issues looked at when considering new security equipment. Most of the county’s school districts are already in a money slump right now. The budget for school funding is low and is getting lower by ... ...ist (1995). Risks to students in schools. Washington D.C. Office of Technology Assessment. (2003). Datastrip’s ID Cards, Bar Codes Scanner Ensure Student Protection. THE Journal, 31, 27-30. Blackburn, M. (2001). Mikulski urges U.S. funds for special education: The Sun, Local, 3B. Lane, K. (1996). The School Safety Handbook, taking action for students and staff protection. Lancaster, PA: Technomic Publishing. Schneider, T. (2001). Newer Technologies for School Security. (ERIC Digest No. 145) Eugene, OR: ERIC Clearinghouse on Educational Management. (ERIC Document Reproductive Service No. ED449550.) Trump, K. (2004) School Security Equipment and Technology, National School Safety and Security Services, http://www.schoolsecurity.org/resources/security-equipment.html Watson, R. (1995). A Guide to Violence Prevention: Educational Leadership, 52, 57-60.

Critical Film Review on Blood Diamond Essay

A movie filled with shark and unforgettable moments truly gels the substance. It portrays different motives and goals and how each character changes his methodology and ways but the dream remains the same. Each follows his dream and then realizes it. It portrays the various reasons that make a person into a killer. Some do it for survival, some to protect their family, some to escape their life, some for greed, some to win freedom and some because they have been brainwashed. The movie begins with Soloman Vandy played by Djimon Hounson being captured by the Revolutionary United Front (RUF) rebels when they invade the small Sierra Leonian village of Shenge. He is separated from his family while his son Dia is brainwashed that turns him into a killer. The movie revolves around two African men, Archer and Vandy with two completely different histories and then their fates become joined in a combined quest to recover a pink diamond. Danny Archer (Leonardo DiCaprio), an Anglo ex-mercenary from Rhodesia gets caught while smuggling diamonds and an American journalist Maddy Bowen (Jennifer Connelly) who helps Soloman find his family and covers her entire journey and publishes the truth behind the diamond industry. The movie shot in South Africa and Mozambique is an adventurous, thriller movie with strong violence and social conscience, disturbing political and sociological insights. It shows a lot of bloodbath, atrocities, innocence of the farmers and the villagers and political unrest. It gives clear images of human cruelty and sufferings. I as an audience felt waves of different emotions, hope, pride, fear, mistrust, desperation and determination. I felt that each of the characters grew as the film progressed without being overly manipulative. The whole time it builds this tension if either of the two men will betray each other. The film is intended to be watched by all adults as it is an eye opener and gives us an opportunity to see the side of history we were not aware of. It covers the different social levels ranging from the big diamond tycoons to the poor farmers and villagers with journalist and diamond dealers in the middle. The movie brought an explosive impact on the diamond industry. Background knowledge The film puts a new spin to the diamond industry and the expensive, pricey stone that we wear around our neck and on our fingers. Set in the West African country of Sierra Leone during the 1990s, this movie is a historical-adventure-drama that covers a time when the country was in turmoil. Warlords, smugglers and the diamond association all play roles in killing and enslaving men to work on the diamond fields. The title ‘Blood Diamond’ refers to diamonds which are harvested, smuggled and traded to fund the purchase of weapons used in Civil War. Blood diamonds are stones that are increased the death toll and the violence in the region. The movie carefully conveys the message without really lecturing the audience. A right balance is maintained between a historical event and an action-drama entertainment. The movie shows Maddy Bowen publishing in her magazine the complete story of her journey which later led to a conference on blood diamonds that actually took place in 2000 in Kimberly, South Africa. The conference led to the Kimberly Process Certification Scheme that seeks to certify the origin of diamonds in order to curb the trade and smuggling of conflict diamonds. Conclusion A captivating plotline and an outstanding cast performance are few words that describe the movie. The movie captures the reality to a remarkable degree. I think it comes at par with other movies I have seen like Hotel Rwanda. There is a great deal of violence which is realistic and very fitting to what happened. Sierra Leone, one of the safest countries in the world gets involved in a civil war. I feel that the movie very accurately tells about the diamond conflict. I feel that Di Caprio did justice to his role, Connelly’s role was short but she was able to make the most of it and Housou truly deserves the Oscar. The ending was simply superb when Di Caprio dies in the mountains. It adds a realistic touch and is very sad as we see that he finally gets what he had dreamt of but he could not cherish it for long. The positive aspects of the movie far outweigh the negative bits. I felt the movie was a little outstretched and the length bogged it down a little instead of strengthening it. The conflict of diamonds, the conflict of Africa keeps you wondering if peace and harmony can ever be attained world wide. It left me with a thought of how violence can be put to an end and how these giant corporations be made to serve the third world, under developed countries and not vice versa. Reference http://www. moviehabit. com/reviews/blo_lg06. shtml http://review-online. blogspot. com/2007/03/blood-diamond. html

Environmental Analysis of Barclays Bank Plc Essay Example

Environmental Analysis of Barclays Bank Plc Essay Example Environmental Analysis of Barclays Bank Plc Paper Environmental Analysis of Barclays Bank Plc Paper They face increasingly well- informed and energetic customers, determined legislators, and electorates ho are becoming environmentally aware. They have to adapt to changing economic and market conditions, fast changing consumer needs and expectations. Their business is influenced by global economic, political, regulatory, technological and other unpredictable factors. Consequently, they have to device their strategies, policies and operations to adapt to these changes in order to meet stakeholder expectations and satisfy consumer needs. In this assignment, try to describe and evaluate changing business environment of Barclay Bank Pal over the last five years. INTRODUCTION About Barclay Bank Pal Barclay is a major global financial services provider engaged in retail banking, credit cards, corporate banking investment banking, wealth management and investment management services with an extensive international presence in Europe, the Americas, Africa and Asia. Barclay Group headquarters is at 1 Churchill Place in London, UK, but it has operations all over the world, with products and services to meet the needs of customers and clients in local markets. With over 300 years of history and expertise in banking, Barclay operates in over 50 countries and employs more than 144,000 people. Barclay moves, lends, invests and retests money for more than 48 million customers and clients worldwide. Organizational structure Barclay is made up of Clusters: Global Retail Banking, and Corporate and Investment Banking and Wealth Management, each of which has a number of Business Units. The third major area of the business is Group Centre, which comprises all our essential support functions. I-J Banking Industry Auks banking sector, following the IIS and Japan, is the worlds third largest and considered foremost in terms of: efficiency, dynamism and return on capital. In addition to having one of the largest commercial banking industries, the UK is also a major international centre for investment and private banking. The UK banking sectors strong international orientation is reflected in the substantial foreign presence and sizeable assets of foreign banks in London. It services 95% of the population with about 3. 5% of Auks workforce over a million workers. Banks and financial services contribute E ban to the Auks national output (6. 8% of GAP) and provide 25% Of total corporation tax (Been) to the UK Government. The main retail banks provide over mm accounts, clear ban transactions a year and facilitate 2. Ban cash tetrahedral per year from its network of over 30,000 free Atoms. Banks in the UK contribute well over El mm per year to charities and local community initiatives. UK banks are authorized and regulated by Financial Services Authority under the Financial Services and Markets Act 2000 (FSML). Financial Services Authority is an independent non-governmental body which exercises statutory powers under the FSML. The FSML requires the FSP to pursue four objectives: to maintain confidence in the UK financial system; to promote public understanding of the financial system; to secure an appropriate degree f protection for consumers whilst recognizing their own responsibilities; and to reduce the scope for financial crime. Banks of England is responsible for maintaining overall stability of the financial system a whole. The Bank sets interest rates of UK and is also responsible for identifying and limiting systemic financial risk. ANALYSIS Barclay bank operates almost all over the world and hence its actions are influenced by the global economic conditions. Have used PESTLE framework to describe and evaluate business environment of Barclay Bank pal. It categorizes environmental factors into six main types: political, economic, social, technological, environmental and legal. Lattice * Government stability * Taxation policy * Foreign trade regulations * Social welfare policies Economic factors * Business cycles * GNP trends * Interest rates * Money supply * Income distribution * Social mobility * Lifestyle changes * Attitudes to work and leisure * Consumerism * Levels of education Technological * Government spending on research * Government and industry focus on technological effort * New discoveries/dev elopment * Speed of technology transfer * Rates of obsolescence Environmental * Environmental protection laws * Waste disposal Energy consumption Legal * Monopolies legislation * Employment law * Health and safety * product safety The change in the business environment of Barclay bank The collapse of a global housing bubble, which peaked in the IS. S. In 2006, caused the values of securities tied to real estate pricing to plummet thereafter, damaging financial institutions globally. Questions regarding bank solvency, declines in credit availability, and damaged investor confidence had an impact on global stock markets, where securities suffered large losses during late 2008 and early 2009. Economy sees worldwide slowed during this erred as credit tightened and international trade declined. Governments and central banks responded with unprecedented fiscal stimulus, monetary policy expansion, and institutional bailouts. The subsequent emergence of a wider set of credit problems in mortgages and in corporate lending, and in particular in commercial real estate generated credit capacity constraints and economic slowdown. An initial focus on funding problems, with the failure of Northern Rock caused not by immediately evident solvency/credit quality problems, but by the drying up of the market for both securities credit assets and wholesale funding availability. Such funding issues were also critical to the problems of Bradford ; Bentley and HOBOS in September/October 2008. The UK economy was officially declared to be in recession on 6th May 2009. The Office of National Statistics said that Gross domestic product (GAP) fell by 1. 5% in the last three months of 2008, after a 0. 6% contraction in the previous quarter. Recession is generally defined as two quarters of successive contractions in GAP, which means the UK had been in recession since July 2008. Industrial production fell by a massive 3. 9 per cent over the quarter, while the dominant set-vices sector fell by one per cent. Unemployment had also risen to 2. 47 million in the three months to July 2009. It Was at its highest level in 14 years since May 1995. The KICK economy came out of recession in 2010, after figures showed it had grown by 0. % in the last three months of 2009. In the second week of January 201 0, UK unemployment fell for the first time in 18 month. The Auks production and service sectors each grew by 0. 1% during the quarter. The UK recession began in the April-to-June quarter of 2008, and was the longest I-J recession on record. During 18 months of re cession, public borrowing increased to an estimated El ban, while output slumped by 6%. Impact on Barclay Banks performance Barclay announced record profits of more than Ell billion for 2009 a 92% rise on the previous year. Its performance driven largely by a strong revival in its investment banking arm Barclay Capital. Profits were also boosted by sale of fund management business Barclay Global Investors, and the addition of the New York operations of failed investment bank Lehman Brothers at the end of 2008. The BIG sale added E. 3 billion to pre-tax profits. Barclay Capital contributed E. 5 billion of the banks underlying profit of E. 3 billion which was 13% down on sasss E billion. However, the banks profit was highly affected by the global economic slowdown and deteriorating economic conditions in the UK. Its UK Retail Banking profit before tax in 2009 decreased 55% (E mm) to Emma (2008: El mm), impacted by low interest rates resulting in margin compression on the deposit book and increased impairment charges which together more than offset well controlled costs and an improved assets margin. Impairment charges rose to Emma (2008: Emma), reflecting the impact of the economic recession across the business with continued pressure on corporate liquidity, rising default rates and lower set values. Barclay enforced strict criteria on new credit card applications, using a scoring system that takes over 400 variables into account when assessing an applicants likely ability to manage their credit. Around 50% of applications for credit cards are declined as a result. Strong income growth (2009) across the portfolio driven by increased lending, improved margins and foreign exchange gains, was offset by higher impairment charges, driven by the deterioration in the global economy. Impairment charges in the international businesses increased Emma, driven by higher delinquencies due to deteriorating economic conditions. UK portfolio charges were higher as a result of rising delinquencies due to the economic deterioration, especially in the loan portfolios, and the inclusion of Goldfish in UK Cards. The impairment charge in Global Retail and Commercial Banking increased by 85% (E,mm) to E,mm (2008: E,mm) as charges rose in all portfolios, reflecting deteriorating credit conditions across all regions. Impairment charges on loans and advances increased 50% (E,mm) to E,mm (2008: E,91 mm). The increase was primarily due to economic deterioration and portfolio maturation, currency movements and theology enhancements, partially offset by a contraction in loan balances. In Investment Banking and Investment Management, impairment was broadly unchanged at El ,mm (2008: El ,mm). The impairment charge against available for sale assets and reversed repurchase agreements increased by 41 % (Emma) to Emma (2008: Emma), driven by impairment against credit market exposures. Political During 2008, the UK government acted in the banking sector to recapitulate banks and guarantee toxic assets and deposits and new lending for essential infrastructure programmers. This was essential to shore up lending for nonusers and businesses and restore confidence in banks. Also it was vital to avoid the unprecedented banking crisis having even more wide reaching and catastrophic effects in the wider economy. This decision was not taken lightly and wasnt considered an easy ride for the banks. Banks wishing to participate in the Asset protection Scheme for example had to make additional lending to households and businesses. But the overarching priority in the banking sector was first to ensure the continuing supply of credit to the wider economy. This means returning the banks to solvency and profitability, ND maintaining financial stability. On 13th October 2008, the government nationalized the Royal Bank of Scotland (ORBS), taking up a 63 % stake in exchange for EWE billion of taxpayers money (now 84% owned by the government) on condition that no executive bonuses paid during 2008; no dividend until the governments Been of preference shares are repaid and the government appointed three directors; ORBS had to maintain mortgage lending at 2007 levels. On 31st October 2008, Business secretary Lord Mandelas waived competition law for takeover of Lloyd Tats takeover of Halifax Bank of Scotland creating the fourth biggest bank of Britain to calm uncertainty about the strength of HOBOS after a run on its shares. The combined bank accounts for a third of the mortgage market. Although the merged bank is smaller than Barclay, HASH and Royal Bank of Scotland, because it has less of an international profile than the Other banks, it is the market leader in terms Of savings by a huge margin. In order to shore up confidence in the banking system during 2008, the government injected money into Lloyd TTS Bank (E. Ban) and HOBOS (El 1 ban) and became owner of 43. % of the combined roof, directors were asked to receive sasss bonus in shares; no dividend until preference shares are repaid; government appointed two directors; Lloyd asked to maintain mortgage lending at 2007 levels for next three years. As the Financial Services Authority increased the capital ratio requirements for all UK banks, Barclay had been forced to raise E. 2 billion from Middle Eastern Investors on generous terms. A further El . Ban was being raised from institutional investors to strengthen its balance sheet. Chancellor Alistair Darling introduced a temporary one-off super-tax of 50% n bankers bonuses paid above E25000 between December 2009 and April 2010. Bankers still had to pay income tax on any bonus they receive as usual. The new tax was designed to discourage banks from awarding large bonuses to employees in the wake of the major taxpayer support they have received in the financial crisis. Consequently, Barclay paid IEEE million in windfall bonus tax for 2009. Sociological According to British Retail Consortium (BRB), more people are using cash to pay for their purchases amid growing consumer concerns about how much money they are spending. The global credit crunch is causing consumers to e more cautious with their money. Figures from the organization showed that cash was used for 60 per cent of all transactions during 2008, an increase of 54 per cent from 2007. Cash represented 34 per cent of all money spent in the retail sector during 2008, compared with 32 per cent in 2007. According to BRB, peoples enthusiasm for using cards is slipping as they are not only reluctant to borrow but also reluctant to use cards. A survey released on 22nd January 2009 by communications consultants Cohn ; Wolfe revealed the full scale of LIKE consumers anger with financial institutions. I-J consumers perceive their banks to be greedy and impersonal, according to the survey, which polled 852 consumers in January 2009. The study also revealed that 60% of consumers dont believe that their bank is looking after their best interests. When asked which words best describe the perception of their financial institution, consumers identified greedy (49%), impersonal (36%) and distant (34%). Positive and desired descriptions including ethical (2%), trustworthy (4%) and transparent (5%) were among the least common terms used by consumers to describe their financial institutions. Almost two thirds (64%) of respondents trust in financial institutions had weakened over the last 18 months. A lack of confidence in banks was further emphasized with 74% of consumers saying that they do not believe that their bank would help them recover any money they had lost in 2008. Respondents also identified the financial services they trusted most. Retail banks were comfortably (59%) the most trusted type of financial service. At the other end of the scale, investment broker (2%), insurance providers (5%), online financial service providers and supermarket retailers (both 6%) come off worst. Due to such negative attitude towards ban king industry and intense public interest and concern for banks and bankers pay, Barclay chief executive John Barley and president Bob Diamond both agreed to sacrifice bonuses for two years, 2008 and 2009. In late 2004, Chip ; PIN technology was introduced as a strategic response to tackle counterfeit and lost ; stolen card fraud in the face-to- face environment. Up until this point, UK consumers signed for their goods and services and only used their PIN for ATM withdrawals. During 2007, Barclay sent out PIN sentry machines to over half a million customers in an tempt to prevent online banking fraud. The PIN sentry reader is meant to be used once an online account holder has logged in to the banking site. After logging in, customers slot their bank debit card into the card reader, which generates a unique code which they must input before making a transaction. Also, retailers and banks are using more fraud screening detection tools and online fraud prevention tools, such as Mastered Secured and Verified by Visa, which make cards more secure when people are shopping online. This led to phone, internet and mail order fraud losses falling 19 percent from IEEE. Million in 2008 to IEEE. 4 million in 2009. Environmental Climate change has become the single biggest challenge the world faces at the beginning of the 21st century, and in response Barclay is focusing increasingly on its work on the environment, which includes both its direct and indirect impacts. Barclay remains committed to increasing its energy efficiency, and reducing its carbon footprint on an ongoing basis, as well as helping its supply chain reduces its emissions. In 2007, it invested in emissions trading capability, and moved into the consumer market with new lower-carbon products and services. An example is Barbarically Breathe, a new card that gives consumers incentives when they buy green products, and donates half its profits to environmental projects. In the wholesale market Barclay Capital has committed to the ELI emissions trading market to brings its full range of commodity trading and risk management expertise to bear to help clients manage their carbon risk. Since 2005 it has traded over 600 million tones of carbon credits, with a notional value of over $14 billion. Gal factors The global financial crisis resulted in a significant tightening of regulation and changes to regulatory structures globally. The changes in the legal framework, policies and banking r egulatory action, have an impact on Barclay businesses and earnings. The market for payment protection insurance (PIP) has been under scrutiny by the UK competition authorities and financial services regulators. In 2006, the FSP published the outcome of its broad industry thematic review of PIP sales practices in which it concluded that some firms fail to treat customers fairly and that the FSP would strengthen its actions against such firms. Barclay voluntarily complied with the Fags request to cease selling single premium PIP by the end of January 2009. On 21st February, the UK government introduced Banking Act 2009 which provides the Authorities with tools to deal with failing banks and building societies. The Banking Act provides a permanent and appropriate regime for the resolution of failing banks. It is a major step forward in the Governments programmer to strengthen stability and confidence in the UK banking system, in the wake Of the global instability experienced by financial markets. In order to discourage excessive risk taking by large banks, FSP published its new Remuneration Code of Practice in August 2009. The code states that firms should not encourage risk taking to generate short-term profit the focus should be on long term success. It required firms to give pay details to FSP so that it can monitor compliance. Barclay discretionary pay awards for 2009 were fully compliant with the FSP Remuneration Code which resulted in an increase in the deferred awards by approximately 70% and greater use of equity in deferral structures, particularly to senior staff. 100% of the discretionary pay awards for 2009 to its Executive Committee were deferred. RECOMMENDATION From previous chapters it becomes clear that Barclay bank operates in unpredictable and volatile business environment. In such circumstances, it is highly recommended that it should be clear about its strategic framework for the coming years and should maintain a sound financial and organizational footing that anticipates and adapts to the regulatory changes. It can achieve superior growth by diversifying its profit base by geography and by business line. It should focus intensely on cost reduction and risk management. It is required to create the internal framework, processes and culture to respond rapidly to new opportunities, threats and regulations. It is also required to re- establish trust and relationship with customers by fulfilling their needs with reduce innovation and customer centric approach. CONCLUSION The global economic slowdown and subsequent recession in UK and in many other countries of the world have changed the business environment in substantial way. Barclay Bank operates in a business environment which is highly influenced by political, economical, coloratura, technological, environmental and legal factors. In order to compete successfully, it has to adapt to changing business environment. Its performance in last five years shows that it has the ability to run the business profitably even in such deteriorating economic conditions where other players in the market trudged to survive. However, it needs to undertake a balanced set of strategic initiatives in such unpredictable and extreme volatile business environment which is beyond the organizational control.

Free Essays on Slaughterhous-Five

Slaughterhouse-Five by Kurt Vonnegut is an anti-war book, focusing on what happened to one man during World War II and even includes some of Mr. Vonnegut’s experiences in Dresden during the war. There is only one character in this book, Billy Pilgrim. Possibly one of the least likely of any anti-war heroes, Billy is an optometrist before the war. When the U.S. joins the war, Billy is drafted. A scrawny person to begin with, his comical appearance is accentuated when he is given a uniform that doesn’t fit. Thrust into combat, he is quickly captured by the Germans during the Battle of the Bulge. He quickly experiences one of many trips he takes in time, seeing his entire life at one time. Transported by car to a POW camp in Dresden, he is even more comically adorned in a purple cape and silver boots. The town is soon under attack, and the Allies drop bombs on the small city, quickly killing thousands. The few survivors lived by staying in an air tight meat locker. Returning home, he marries an optometrist’s daughter, sets up his own business, and lives a normal life, or so he thought. The night after his daughter’s wedding day, he is abducted by strange aliens from the planet Tralfamador, who kidnap him and explain their way of life. He is forced to mate with a film star in a museum. The aliens tell him that they see all of life at once on a fourth dimension, and know when everything begins and ends. Their view of life is different, as the know that death is just one moment for someone, the try to focus on the happy moments of that person’s life. When Billy returns to earth, he says nothing of his experiences. Instead, he goes on a plane to an optometry conference in Montreal. The plane crashes and everyone dies except him. As his wife drives frantically to the hospital, the exhaust pipe falls off and she dies from carbon monoxide poisoning. His daughter put him in a home, and he snuck off to New York, where he told ... Free Essays on Slaughterhous-Five Free Essays on Slaughterhous-Five Slaughterhouse-Five by Kurt Vonnegut is an anti-war book, focusing on what happened to one man during World War II and even includes some of Mr. Vonnegut’s experiences in Dresden during the war. There is only one character in this book, Billy Pilgrim. Possibly one of the least likely of any anti-war heroes, Billy is an optometrist before the war. When the U.S. joins the war, Billy is drafted. A scrawny person to begin with, his comical appearance is accentuated when he is given a uniform that doesn’t fit. Thrust into combat, he is quickly captured by the Germans during the Battle of the Bulge. He quickly experiences one of many trips he takes in time, seeing his entire life at one time. Transported by car to a POW camp in Dresden, he is even more comically adorned in a purple cape and silver boots. The town is soon under attack, and the Allies drop bombs on the small city, quickly killing thousands. The few survivors lived by staying in an air tight meat locker. Returning home, he marries an optometrist’s daughter, sets up his own business, and lives a normal life, or so he thought. The night after his daughter’s wedding day, he is abducted by strange aliens from the planet Tralfamador, who kidnap him and explain their way of life. He is forced to mate with a film star in a museum. The aliens tell him that they see all of life at once on a fourth dimension, and know when everything begins and ends. Their view of life is different, as the know that death is just one moment for someone, the try to focus on the happy moments of that person’s life. When Billy returns to earth, he says nothing of his experiences. Instead, he goes on a plane to an optometry conference in Montreal. The plane crashes and everyone dies except him. As his wife drives frantically to the hospital, the exhaust pipe falls off and she dies from carbon monoxide poisoning. His daughter put him in a home, and he snuck off to New York, where he told ...