The Roman Empire, Political And Social Strife - 927 Words

During the early days of the Roman empire, political and social strife was the bread and butter of Roman citizens, a daily struggle that on one hand the Roman aristocracy, or the Patricians, pretended wasn’t occurring. Whereas on the other hand the lower class, or the Plebeians, had no voice that could be heard on the matter, effectively rendering the social injustices overseen and untouched for a very long time. It was only after an intolerable tyrannic government under the rule of Tarquinius Superbus that the the entire populace decided enough was enough. Patricians vs Plebeians The Roman aristocracy was known as patricians, these was the affluent portion of the population, which controlled everything in the Roman state, including economy, government, law, the election of new rulers as well as these ones’ successors. The Roman poorest was known as plebeians, these class was forced to respond and support the call to arms when military conflict knocked on the doors of Rome. Plebeians were the portion of the population that was responsible for obeying the Patricians’ mandates, as well as constantly enduring the worst kinds of abuses by their rich citizen opposing counterparts. The law of debt Having answered the call to arms by the Roman state, plebeians were forced to leave their home and properties behind while fighting on the front lines. Unfortunately, unlike the patricians, plebeians’ homes were not inside the fortified walls of the city, instead they were out in theShow MoreRelatedRoman Empire1506 Words   |  7 Pages  The Roman Empire was the post-Republican period of the ancient Roman civilization, characterized by government headed by emperors, and large territorial holdings around the Mediterranean Sea in Europe, Africa, and Asia. The 500 year old republic which preceded it was severely destabilized in a series of civil wars and political conflict, during which Julius Caesar was appointed as perpetual dictator and then assassinated in 44 BC. Civil wars and executions continued, culminating in the victoryRead MoreA Comparison of the Decline of Han China and the Roman Empire917 Words   |  4 Pagesthe Roman Empire The decline of China and Rome both shared similar economic strife in that they were both subject to barbarian and nomadic invasions, therefore having to spend large amounts of money on frontier defense; however, they differed in that the Han Empire collapsed in part due to the high taxes imposed on the peasant class resulting in a large peasant rebellion, such as the Yellow Turbans, while in Rome tax collections was in danger of abandonment as residents of the empire wereRead MoreThe Decay Of Ancient Civilization And Mohammed And Charlemagne1686 Words   |  7 PagesIntroduction There have been several, non- definitive reasons attributed to the decline/ fall/ end of antiquity i.e. the Greco- Roman world. The purpose of this essay is to outline the several reasons that led to the decline. The essay attends to two essays, namely The Decay of Ancient Civilization and Mohammed and Charlemagne by Michael Rostovtzeff and Henri Pirenne, respectively to reason the end of antiquity and the beginning of middle ages. The essay is divided into two sections and discussesRead MoreThe Augustan Reformation : Responsive Or Ideological?1281 Words   |  6 PagesAugustus became the first official Roman Emperor. Augustus reigned over Rome, determined to resolve the social disorder that was present at the time. Leading with such strength, he began a 200-year period of peace, now known as the Pax Romana. His many laws that were enforced represented a concrete response to the chaos that was present in Ancient Rome. Roman morality had dwindled as the Republic went into a state of decline. Augustus believed that the political turmoil and many civil wars thatRead MoreThe Differences Of The Roman Empire And The Byzantine Empire1436 Words   |  6 PagesThe Byzantine Empire was a vast powerful empire dating from 330-1453. The capital was Constantinople (modern-day Istanbul), first known as Byzantium. To begin with, the Roman Empire was split up into two halves by Emperor Diocletian in A.D. 285. The empire was divided into the Western Roman Empire and the Eastern Roman Empire (The Byzantine Empire). The Eastern Roman Empire was similar to the Western Roman Empire but had some prime differences. These differences included language, acceptance of ChristianityRead MoreByzantium and Sassanid Empire1999 Words   |  8 Pagesstart of the post-classical era two empires existed that were among the first wave of post-classical empires. They were the Byzantine Empire and the Persian Sassanid Empire. They Byzantine Empire was known to be a continuation of the Roman Empire that lasted for one-thousand years. Although this sounds like an achievement the one-thousand year Byzantine Empire was not as great as it is expected to be. The Sassanid Empire that lied just east of the Byzantine Empire, or in present day Iran was alsoRead MoreAncient Athens: The Prototype for Western Democracy Essays1264 Words   |  6 Pagessomething unique in the ancient world. The Athenian love of physical activity culminated in the Olympics, an event that though ended by the Roman Empire, inspired the Olympics of the modern era. Though Athens was later conquered by the Roman Empire, it still served as the center of culture until its ultimate collapse in the 6th century AD via the Eastern Roman Empire. Ultimately, Western Society owes a debt to ancient Athens as this small city-state provided the backdrop for the West to develop and growRead MoreOctavian and Marc Antony- The Duel of Words and Deeds1805 Word s   |  7 Pageshis identification with Dionysus capitalized on the popular Dionysiac cult, which could be found in the East as well as in Italy. By linking oneself with Dionysus, Antony portrayed himself as a divine triumvir, looking to conquer the Orient. This political move was based on popular belief that Dionysus was the god of world conquest, and the blessings of Dionysus included civilization itself. To the people of the East, this connection provided justification why Antony should be revered and followedRead MoreThe Embracing of Christianity in Roman Society924 Words   |  4 PagesChristianity being embraced to the Roman society was not a small feat. During this time Christians were heavily persecuted and often put to death. Christianity was considered prohibited cult and following this religion was a capital offence. The polytheistic Romans were extremely tolerant of other religions They allowed the worship of native gods and goddesses throughout their provinces and even adopted some of the deities. (Duiker) As long as the religious practices did not affect the orderRead MoreCaesar Essay761 Words   |  4 Pageslife began and ended with Rome beset by internal strife and the threat of civil war, he did more than anyone to consolidate the power of Rome and facilitate the rise of the Roman empire. It is true that the political and social climate of Rome had been changing rapidly for two hundred years before Caesar, but it is a moot point whether Rome would have proceeded towards monarchy without Caesar. The important thing is that he did live and reshape the Roman world; the life of Caesar was the catalyst for

The City in the Sea by Edgar Allan Poe - 622 Words

Edgar Allan Poe would often unite elements of dreadfulness, love, and imagined aspects in his poems settings to help produce a Gothic atmosphere within his pieces. As illustrated by Poe in †The City in the Sea the setting takes place in an isolated city in the distant west that has no clear origins or particular placement in reality, therefore contributing a dreamy but dreary with a hint of gloomy feeling to the poem. Alternatively, The Raven uses the setting of a monotonous room at night, whereas the shadowy corridor outside the room and the rustling of curtains suggest the presence of a paranormal or supernatural entity in the chamber. Poe establishes the scenery as a mood that is receptive to the tensions of horror and fear within his works. â€Å"The City in the Sea† Poe expresses his views about a city in the west that is ran by Death. For instance Poe states â€Å"While from a proud tower in the town, Death looks gigantically down.†(28, 29).This tells the reader that death is ruling the city. In this piece by Poe the poem depicts death and presents it in an unorthodox way. It is viewed as a god that watches over a magnificent, peaceful city in the far west. The city is massive and godly as Poe states â€Å"Domes and spires and kingly halls, and fanes and Babylon like walls.† (17, 18). Poe says the city is in the west because sun sets in the west, this has traditionally been associated with death. At the conclusion of the poem Poe suggest that something isn’t right as he speaks ofShow MoreRelatedAn Analysis Of Edgar Allan Poe s The City Of The Sea Essay952 Words   |  4 Pagesone will discover the similarities of form or meaning. When comparing Edgar Allan Poe and William Cullen Bryant, a reader can find similarities that range from the topic of death, though with a different outlook to the use of personification. Their difference can be found in the blank verse used by Bryant compared to the rhymed verse used by Poe along with the difference in iambic meter. Edgar Allan Poe’s â€Å"The City in the Sea† takes its’ readers to a realm of gloom where Death is personified as aRead MoreDeath as an Indisputable Ruler in The City in the Sea by Edgar Allan Poe1013 Words   |  5 PagesEdgar Allan Poe is best known for his short stories in a genre of Gothic fiction or Gothic horror. Poe is considered to be an interpreter of the genre as he managed to change and to renovate it by focusing on the psychology of his characters rather than on the traditional Gothic fiction elements. The theme of death is cross-cutting throughout the works of Edgar Allan Poe. His poem The City in the Sea is no exception to that rule. A well known critic T. Frederick Keefer claimed: â€Å"Edgar Allan PoesRead MoreEdgar Allan Poe1245 Words   |  5 Pagesbe discussing about my poet Edgar Allan Poe. Poe had written numerous of poems and stories but the one I chose was â€Å"Annabel Lee†. This poem was written in 1849 which was a long time ag o. Even though this poem is centuries old, it is still a well known poem. This whole project includes a biography, literary movement, and a explication about the poem. The biography includes where Poe grew up and how his lifestyle were. Through research and sources, I found out that Poe lived a hard life. He was inRead MoreAnalysis Of Edgar Allan Poe s The Cask Of Amontillado Essay1267 Words   |  6 Pagessignificance of Edgar Allan Poe s style of writing, which commands the use of both death and love most frequently throughout his works, are what really made his literary works become so well known. The nature of death and on questions about the afterlife is usually Poe’s main focus in most of his literary works. A woman who has died at the height of her youth and beauty, leaving a lover behind to mourn. Death and Love, these two main themes are discussed throughout Edgar Allan Poe s literary workRead MoreEdgar Allan Poe : The Mystery Of Mystery And The Macabre1078 Words   |  5 Pages  Edgar Allan Poe was an American writer, editor, and literary critic. Poe is best known for his poetry and short stories, particularly his tales of mystery and the macabre. Widely regarded as a central figure of Romanticism in the United States and American literature as a whole, he was one of the country s earliest practitioners of the short story. Poe is generally considered the inventor of the detective fiction genre and is further credited with contributing to the emerging genre of scienceRead MoreEssay about The Work and Life of Edgar Allan Poe1994 Words   |  8 PagesA bit of Edgar Allan Poes life had been molded into each piece of his work. This provided his readers and critics with a better understanding of Poes life. Poe displayed his greatest lifes achievements and his worst disappointments in a series of stories and poems created throughout his whole life. It is the goal of this research paper to reveal symbolic facts about Poe?s life and define these hidden parallels in some of his most famous works.   Ã‚  Ã‚  Ã‚  Ã‚  Edgar Allan Poe was born on January 19, 1809Read More Edgar Allan Poe1 Essay2429 Words   |  10 PagesEdgar Allan Poe1 In every story conceived from the mind of Edgar Allan Poe, a scent of his essence had been molded into each to leave the reader with a better understanding of Poe’s life. Poe displayed his greatest life’s achievements and his worst disappointments in a series of stories created throughout his whole life. It is the goal of this research paper to reveal symbolic facts about his life and define these hidden maxims in a way that is easy to understand and beneficial to the readerRead Moreâ€Å"Because I could not stop for Death† and â€Å"Annabel Lee†: Similarities, Differences, and Their Authors1494 Words   |  6 PagesIn literature, themes shape and characterize an author’s writing making each work unique as different points of view are expressed within a writing’s words and sentences. This is the case, for example, of Edgar Allan Poe’s poem â€Å"Annabel Lee† and Emily Dickinson’s poem â€Å"Because I could not stop f or Death.† Both poems focus on the same theme of death, but while Poe’s poem reflects that death is an atrocious event because of the suffering and struggle that it provokes, Dickinson’s poem reflects thatRead MoreEssay Biography of Edgar Allan Poe2810 Words   |  12 PagesBiography of Edgar Allan Poe Many authors literary works are often influenced by their own personal life experiences. Among these authors is Edgar Allan Poe, one of the most inventive writers of prose and poetry in the nineteenth century. The juxtaposition of Poes life and work is most evident in the morbid personalities and melancholy themes of his literary compositions, similar to those of his life. Edgar Allan Poe was born in Boston, Massachusetts on January 19, 1809. His motherRead MoreA Brief Biography on Edgar Allan Poe Essay882 Words   |  4 PagesEdgar Allan Poe was born in Massachusetts, U.S. on January 19, 1809. Poe`s parents were Elizabeth Arnold Poe and David Poe Jr. Poe was named after a character in William`s Shakespeare King Lear. Poe was baptized at Episcopal Church in 1812.His mom was an actress and his dad was an actor. Poe`s dad abandoned the family in 1810. Poe had 2 siblings. His brother was named William Henry Leonard he was a writer, sailor, and poet. He was born in Boston on Jan 30, 1807. Poe`s brother died August 1, 1831

Economics and International Business Law †MyAssignmenthelp.com

Question: Discuss about the Economics and International Business Law. Answer: Introduction The report is prepared to explain the various pros and cons to the Managing director of ABC Incorporated about the legal aspects of commercial strategic planning.ABC Incorporated is a company based in United Kingdom and which wants to expand its operation in the Far East. In order to expand their business operation, it is important to initially analyze the legal, the social and economic factors which are related to the expansion of their business. Thus this report will serve as legal aspects and give information which will help the Managing director to take various decisions related to business expansion (Amici et al. 2013 Background ABC Incorporated is a company which is based in United Kingdom; it has plans to expand its operation in the region of Far East. There are many ways by which the Company can enter into a strategic alliance which includes agency, distributor and the joint venture and many other methods which help in the business expansion (Beamish 2013.). Discussion The company ABC Inc is engaged in the business expansion. The company is planning to enter the market of China, Indonesia and Malaysia. They are planning to trade in the business related to mineral oil. The several considerations which are to be taken while taking decision on the various modes of strategic alliance are as follows: Joint Venture: A joint venture is usually formed for the purpose of completing a single goal for business project. The agreement helps in the power to obligate each other and each may be liable for the actions on the project. In order to set up a joint venture upon the agreement between the parties, it is important to know the durability of the joint venture. Many issues related to the capital structure, the control and the continuation and the durability is taken into consideration. There are many advantages of entering into a joint venture (De Visscher 2016). There are two types of joint venture agreement that can be entered firstly the equity joint venture and secondly the contractual joint venture. In case of equity joint venture, a separate company is created by which two parties enter into a agreement. Both the parties contribute in the capital of the legal entity; thereby the parties become the owner of equity share. Both the parties entering into the agreement share in the profit and also in matters such as the management, operation and duration. Thus the parties to the agreement have a right in the legal entity (Grnig and Morschett 2017). In case of contractual agreement the advantage is that there is no need to form separate legal entity. In this type of agreement both the parties enter into agreement where the project is for a shorter duration, this type of joint venture agreement serve as an advantage where the laws of the Country do not give permission for ownership of a company (Hennart, Sheng and Pimenta 2015). The control in this type of option is much higher. There are many legal methods to be followed while entering into a joint venture agreement, thus the clause such as the licensing agreement, knowhow agreement, franchise agreement and the technical agreement should also be covered as annexure while drafting a joint venture agreement. The advantages of joint venture are as follows: In case of joint venture the partners are able to learn from each other and this helps in the achievement in the proprietary goals through the venture (Hollensen and Ulrich 2014). In case of joint venture both the partners are able to utilize from each other and they can take maximum advantage thereby helping in maximizing the competitive goals. This helps in the development of shared resources and thereby helps in the protection of the resources and helps in the development of the Company (Lindsay, Rod and Ashill 2017). The disadvantages are as follows: One of the disadvantages of joint venture is the cross cultural issues that the parties face due to expansion of their business globally. In case of joint venture there is a constant pressure from both the parties to cooperate with each other and to compete in the global market (Hong 2017). In case of joint venture there is sometimes a conflict in case of a new investment There is sometimes mistrust in between the parties over their proprietary knowledge In case of joint venture there is lack of the support if the parent company. Agency: This is the initial stage when the company wants to expands their business globally. This is a procedure of International marketing. Agents are appointed by the Company on behalf of the organization and they market the goods in that particular Country. In this case they are not considered as the owners of the goods and the products (Mowla et al. 2014). They only represent the organization and sell the products on behalf of the organization, for which they get commission. It is a cheaper mode of entry than the joint venture agreement. A joint venture is a larger form of business expansion than the agency form of market entry. The control over the agent is much less in the agency contract. Distributor: This is also a type of option for market entry where the distributor has the ownership of the goods and the products which they are selling on behalf of the Company. The distributor of the product has an advantage that they can gain a market incentive on the products and thereby earn profit by selling the products on behalf of the Company (Rashid 2016). The advantages of distributorship are as follows: They have a control over the global market and choice of products for the company They have a good hold over the target market therefore it helps the company to sell through them since they have good contacts with the buyers. They are able to protect the brand value, trademark or the goodwill of the intangible property This helps in the increase of the sales of the company whose products are sold through distributor (Zhang et al. 2016). The disadvantages are as follows: It involves a high cost and thus it is posed to high risk The option of distributorship imposes higher investment cost, time and also the resources since it involves organizational changes. It requires a longer span of time since distributorship needs to have a good hold over the particular target market and this takes a longer time to be form a good contact with the buyers (Reid et al. 2015). Negotiation of Joint Venture agreement Important terms of Joint Venture Agreement to protect the interest of the organization The agreement shall provide for the type of share capital and the mode of payment for acquiring of shares The clear definition of all the technical terms shall be mentioned in the agreement In case of joint venture agreement the mode for declaration and distribution of dividend shall also be specified The area for the marketing of the products There is sometimes restriction in the ownership ratio and the agreement for technical knowhow (arapovas, Huettinger and Ri?kus 2016). To specify that the products shall be manufactured on the exclusive as well as non exclusive basis The terms and clauses related to the technical knowhow and the documents related to the specification of the products There shall be provision for making available all the skilled workers and the engineers which helps in the payment of the expenses The details of the project and the specification on the quality of the products shall be manufactured and shall be also given (Schlegelmilch 2016). The clause on the quality control and the brand or trademark shall also be specified Responsibility of the partner in case of joint venture shall also be mentioned The rate of royalty and the mode if payment and calculation or provision for taxes and cess shall also be mentioned The information on the industrial property shall be provided in the document A clause for force majeure should also be mentioned in the agreement (Ulrich, Hollensen and Boyd 2014). There shall be a clause for training and the terms and condition for the training and fees paid The clause for arbitration The constitution of the Board of directors and the number of directors and their powers and functions of the directors (Shi et al. 2014). who will run the management of the company pre emption of the right on the shares of the company The Managing Director has entered into a Joint Venture Agreement with XYZ Incorporation so that they can expand their mineral oil business in the Far East. The terms and condition entered by the parties through joint venture agreement is crucial for the promotion of the business globally by the entrepreneur (Tian 2016). The Joint Venture is an agreement which shall be entered on by legal formalities. The company will be able to exploit the advantages from each other once they enter into joint venture agreement. In case of any conflict they will be able to resort it through the arbitration mentioned in the agreement. The relevance of the above terms in the agreement entered by the company is that the terms or the clause helps both the parties to negotiate the agreement and to reach at cooperation between both the parties. The training of the employees is also important and shall also form as a term or clause in the agreement .A company who wants to expand its business operation and wants to move the business globally shall expand the operation through the way of market entry option (Ulrich and Hollensen 2014). Strategic Plan on Joint Venture Agreement The above terms and conditions of the agreement will be helpful for the company in the following ways: It will help to take the decision more rapidly and to take the opportunities from the business operation It will help to take the decision much quickly It will help to be much flexible in taking or adapting any changes It will help both the companies to improve their area of expertise and to be competitive in their field of business (Yan and Luo 2016). It will thereby help in removing the internal weakness of both the companies It will help both the companies to jump the market barriers. This will help both the companies to compete to develop and market or export the product mineral oil (van der Meer-Kooistra and Kamminga 2015). The strategic goals converge in case of joint venture to achieve the competitive goals Recommendation The most common way of expansion of business globally is through the joint venture mode which helps for the partners to exploit and take competitive advantage of each other so as benefit from the business. The management shall take decision regarding the need and whom they want to start a joint venture, therefore both the partners shall combine their strengths and they will decide how the venture will be structured and be managed. In order to legally have the permission to start a business it is important that both the companies shall abide by the laws and regulation of both the Countries pertaining to the joint venture. In order to further initiate the plan and negotiate the agreement, it is essential that they draft a joint venture agreement and abide by the mentioned clause in the agreement. The terms and conditions mentioned in the agreement are very vital throughout the running of the business. These terms are compulsory and it is included in the employers strategic plan of entering into a joint venture to expand the business operation References Amici, A., Fiordelisi, F., Masala, F., Ricci, O. and Sist, F., 2013. Value creation in banking through strategic alliances and joint ventures.Journal of Banking Finance,37(5), pp.1386-1396. Beamish, P., 2013.Multinational joint ventures in developing countries (RLE International Business). Routledge. De Visscher, F.M., 2016.Financing transitions: Managing capital and liquidity in the family business. Springer. Grnig, R. and Morschett, D., 2017. Determining the Market Entry Modes. InDeveloping International Strategies(pp. 105-123). Springer Berlin Heidelberg. Hennart, J.F., Sheng, H.H. and Pimenta, G., 2015. Local complementary inputs as drivers of entry mode choices: The case of US investments in Brazil.International Business Review,24(3), pp.466-475. Hohenthal, J., Johanson, J. and Johanson, M., 2014. Network knowledge and business-relationship value in the foreign market.International Business Review,23(1), pp.4-19. Hollensen, S. and Ulrich, A.M.D., 2014. The Incubator concept as an entry mode option for Danish SMEs.Transnational Marketing Journal,2(1), pp.1-19. Hong, F., 2017. Chinese Companies Set Sights on Asia-Pacific Oil Assets.,24(1), pp.61-66. Lindsay, V., Rod, M. and Ashill, N., 2017. Institutional and resource configurations associated with different SME foreign market entry modes.Industrial Marketing Management,66, pp.130-144. Mowla, M.M., Hoque, N., Mamun, A. and Uddin, M.R., 2014. Entry Mode Selection, Location Choice and the Sequence of Internationalization: A Case Study on Ranbaxy Laboratories Ltd.Asian Social Science,10(6), p.145. Rashid, M.D., 2016.Corporate culture and Internationalization A case study of Aon(Doctoral dissertation, University of East London). Reid, L.C., Carcello, J.V., Li, C. and Neal, T.L., 2015. Are auditor and audit committee report changes useful to investors? Evidence from the United Kingdom. arapovas, T., Huettinger, M. and Ri?kus, D., 2016. THE IMPACT OF MARKET-RELATED FACTORS ON THE CHOICE OF FOREIGN MARKET ENTRY MODE BY SERVICE FIRMS.Organizations Markets in Emerging Economies,7(1). Schlegelmilch, B.B., 2016. Entering Global Markets. InGlobal Marketing Strategy(pp. 43-61). Springer International Publishing. Shi, W.S., Sun, S.L., Pinkham, B.C. and Peng, M.W., 2014. Domestic alliance network to attract foreign partners: Evidence from international joint ventures in China.Journal of International Business Studies,45(3), pp.338-362. Tian, X., 2016.Managing international business in China. Cambridge University Press. Ulrich, A.M.D. and Hollensen, S., 2014. The Incubator Concept as an Entry Mode option for SMEs.Transnational Marketing Journal,2(1), pp.1-19. Ulrich, A.M.D., Hollensen, S. and Boyd, B., 2014. Entry mode strategies into the Brazil, Russia, India and China (BRIC) markets.Global Business Review,15(3), pp.423-445. van der Meer-Kooistra, J. and Kamminga, P.E., 2015. Joint venture dynamics: The effects of decisions made within a parent company and the role of joint venture management control.Management Accounting Research,26, pp.23-39. Yan, A. and Luo, Y., 2016.International joint ventures: Theory and practice. Routledge. Zhang, X., Ma, X., Wang, Y., Li, X. and Huo, D., 2016. What drives the internationalization of Chinese SMEs? The joint effects of international entrepreneurship characteristics, network ties, and firm ownership.International Business Review,25(2), pp.522-534.

Volleyball Essays (220 words) - Ball Games, Volleyball Variations

Volleyball Volleyball Volleyball is an interesting sport. There are nine people on the court that make three lines. The person in the back row, farthest to the left, serves the ball. It is usually served overhand by hitting it with the heel of your hand over the net to the opposite team If you serve the ball and the opposing team can not return it, you get a point. If they do return it you play until someone misses. Each team gets three hits per side. If the team serving misses the ball after the opposing team hits it back over, the opposing team gets the ball but they do not get the point. You have to serve and win the volley to get the point. The matches are played and won by whoever wind two out of three games. They are usually played up to 15 or 21 points. You have to win by at least two points or else you go until you are ahead by two points. You can play the ball if it hits the net but can never catch the ball or use your feet. The object of the game is to never let the ball hit the ground and get i t over the net. The game seems easy but it really is not! Sports and Games

Again with the Erosion of Income

Again with the Erosion of Income Tired of hearing about how writers are not getting paid? I imagine the writers needing to eat from that income arent. I had a quick unsubscribe of 19 readers within 30 minutes of releasing last Fridays newsletter. Some people do not want to hear that writing on the cheap is not a good thing, because its all they know how to do. People, listen. When pricing is the only factor, you will likely not have a long term relationship with someone. That means editor or reader. When people want to buy you cheap, thats their driving force. There is no LIKE in the factor. Dont make cheap a habit or that becomes your brand. Here are comments from readers that showed they understood the severity of this issue: I agree wholeheartedly that as writers we need to support one anothers efforts If more writers ignored these requests (**from editor for free writing), those markets would either have to find the funding to pay writers properly or realize that if they cant, then maybe they need to look closer at how well they run their businesses. When you give away your work or go for the easier low pay ones you subconsciously tell yourself that you are not good enough to get paid. Worse, getting into the poor or non-paying markets offers a false sense of success. The result of all of this is that you dont have any reason to improve your skills, which would get you into better paying markets. So, I was feeling a little under the weather, and gave my doctor a call. I asked him if he wouldnt mind seeing me for free, since it wouldnt really take much time and he was just fitting me in last minute anyway. Can you believe he turned me down? Claimed hed spent eight years in school, worked his ass off as an intern, was still paying off med school bills, yada yada yada. Well, Ive got options. I go down to the corner drugstore and ask my buddy the manager to give me some free meds. And he starts this whole rant about costs and staffing and insurance and he wouldnt give them to me. I figure, what the hell, Ill just suck it up and get to work. I call up one of my authors and tell him hes booked for a signing, and I promised twenty copies at authors price to the group. Told him I wont be paying him royalties on those. I mean, I cant work for nothing, right? Thank you for this! Ive turned down fabulous projects because of ridiculously low pay and said no to fabulous money because of ridiculous contract clauses. I would never treat anyone that poorly. Its up to each of us to do the right thing and say no. Were saying no for ourselves and for all writers. When we all say no, the low pay and egregious contract clauses would disappear overnight. Good smackdown, Hope. Im with you. If you give your work away, thats what your work is worth. In a race to the bottom, everyone drowns. I was reading an online article from The Guardian this morning on the widening gap between top earners in our industry and the rest of us (theguardian.com/books/2016/jan/15/earnings-soar-for-uks-bestselling-authors-as-wealth-gap-widens-in-books-industry). It was interesting, but much more interesting were the comments, which appear to have been from readers rather than writers. Not only do they not care, but they also think writers are in the wrong in complaining about how much (or rather, how little) they get paid. Definitely an issue for us to resolve in private rather than in public, Philip Pullmans recent action notwithstanding. (NOTE: Regarding that last comment, in case you didnt know, Philip Pullman, author of The Golden Compass, stepped down as patron from the Oxford Literary Festival because they were not paying writers to make appearances. Good man.) A festival organizer asked an acquaintance of mine for names as presenters. She gave them mine. But without me saying anything, she told me she understood my stance about being compensated, and shed let me have that conversation with them. Like I was the exception, but Ill take that reputation all day long. Wouldnt you like to be known as a decent writer who expects payment for their services, or rather someone who gives it away and can be easily had for free?

NHS

NHS Most juniors and seniors aim for graduating with a diploma. Obtaining a high school diploma may be important for a graduates future education, perpetuate job as well as his/ her income for living.Colleges require a diploma in order to enroll into the school. Specific colleges required higher diplomas. For instance, a person plans on attending the University of Virginia or Harvard Law School, which requires an advance diploma as well as a spectacular grade point average. Attending college will control the out come of ones future. The area one majors in depends on the college they enroll their self into.A satisfying job requires a high education from college. The importance of a person's job leads toward their future. Which corresponds to what he/she does for a living. Providing money for them to survive off of. Without a good job, they have a low possibility of them being capable of supporting his/her self and maybe even their family.Photograph of front facade, Austin Hall, Harvard L. ..A person would probably be bereft later in life. Compare a doctor's salary and education opposed to a cash registers salary and education. Obviously the doctor has a better job and is more opulent because of the higher salary and a higher education. A person jeopardizes his/her future without an education. So don't start off your life unkempt!When you graduate from high school you definitely want a diploma. Why go through all those years without getting a purpose out? Just the sensation of accomplishing all four years of high school! Majority of parents muse and want their kids to graduate high school with a diploma. Just the extraordinary sensibility of walking down the aisle as they call out your name. Throwing your hat in the air at the same time as your fellow classmates. Wouldn't you want to...

The Role of the Student in Higher Education Essay

The Role of the Student in Higher Education - Essay Example The Gibbs reflection model seeks to understand the feelings that were experienced, and also allows for the evaluation of an incident in terms of what was bad or good about it (Wilding 2008). The Gibbs model also includes an analysis of the critical nursing situation and then the suggestion of an action plan that will deal with the issue if it should arise again (Curzon 2003). According to (Hinchiff 2004), reflection is particularly important for student nurses because they work in environments in which they have to perform numerous tasks almost without thinking about them previously. Being compelled to work swiftly among emotionally and physically wounded people can affect the student nurses. Engaging in reflective practices allow for the student nurses to be able to deal with the reality of being exposed to human anxieties and needs on a daily basis (Watson 2008). This is important because nurses will not be able to function well if they are stressed from being forced to deal with p eople when they are most vulnerable. Reflection allows for student nurses to be able to develop self-awareness among other interpersonal skills that make them more effective in their nursing duties (NMC 2011). Reflection also helps student nurses to be able to understand ways in which they can better improve their services to their patients (Stuart 2007). For student nurses, reflection thus changes a situation which previously may have been filled with doubt, anxiety, and conflict into being one which is manageable (Price 2004). Description: In considering the situation that he or she is in, the student nurse is able to consider the ways in which she can approach her patients or even plan on studying patterns. Feelings: The student nurse is able to reflect on positive or negative feelings that he or she may be experiencing in regards to the studying practices that he or she has adopted or even regards to patients assigned. The student nurse can then make decisions based on that asse ssment in order to rectify the situation or at least make it manageable (Johns and Freshwater 2005). Evaluation: once the student nurse understands the feelings that he or she has in regards to definite situations, he or she will be in a better position to make decisions on how to solve or amend the situation so that it is more manageable. Analysis: After making an evaluation and deciding about the best way in which to progress, the student nurse is then able to make the decision about the existing situation(s). Different student nurses use Gibb’s reflective model in different ways to ease their studies as well as responsibilities within medical facilities (Johns and Freshwater 2005). Many student nurses make use of journals in which they make entries detailing the situations they are working with and how they feel and plan to manage them. This also helps the student nurses in their learning experiences. For example, if a student nurse comes across a new medical procedure or fairly rare disease, she can record her own feelings about the first time that she saw it and her gut reactions about what caused it. She will then, after writing about her own first feelings about it, can add what she discovered about it on consulting a textbook.

Romantic music in Renaissance painting Essay Example | Topics and Well Written Essays - 1000 words

Romantic music in Renaissance painting - Essay Example Another purpose of Romantic music was that it had non-musical influences. Changes and events that occur in the society such as discoveries, ideas, inventions, attitudes and historical events which will affect the music at all the time. For instance, by early 19th century the industrial revolution was in fully effective and it had a great effect on music. One effect was that there were great improvements in the mechanical valves. This meant that due to the innovative instruments music could be played with more simplicity and easiness. Also the instruments became more reliable. Development in music was also caused by increase of middle class. Composers previously lived on the benefaction of the aristocracy. The audience was small most of the times and the music was only composed by people who had music knowledge and the upper class ones. On the other hand romantic composers wrote mainly for public festivals and concerts, they had large audiences. Nationalism was another theme during Ro mantic era. For instance, Jean Sibelius is mainly read to represent the Finland nation which was rising during that period and which was expecting to gain freedom one day from the Russians. Another example of musical nationalism which is well seen in the productivity of the romantic ages is where Joseph Machlis states that`` Poland’s struggle for freedom from tsarist rule aroused the national poet in Poland.† The development of Renaissance painting is an odd age in the history. It is not only that the time.

Discuss at least one conceptual idea, model or theory in respect of Coursework

Discuss at least one conceptual idea, model or theory in respect of your topic area and evaluate it using case study material - Coursework Example This report has been organised into eight parts, and it has been appropriately numbered throughout the document. The methodology that was used is reviewing of secondary sources. Unexpected and rapid change has become a modern society norm. However, the world has become a steadily volatile place with water shortages, health epidemics, terrorism, changing consumption patterns, economic crises, increasing fuel prices, food and global warming confronting most countries (Sterman, 2012). The impact combination of such factors has reignited focusing of sustainable development as a continuing problem for governments and businesses in general, and for tourism specifically. It has been argued that the tourism sector is required to be prepared to address current and forthcoming problems in order to maintain the viability of the industry and the resources upon that it is depending; and therefore, there is a need for proactive strategic planning and decision-making by governments, businesses and any other stakeholders to increase opportunities, reduce adverse impacts as well as maintaining competitive merits. Furthermore, Sharpley (2000) argued that the sustainable tourism principles are accepted in general, but the function of tourism remains justified by the economic development objectives. Recently, Sharpley (2009) stressed that the discourse of sustainable tourism has been all going around in circles without a breakthrough and little use in the sector, suggesting a need to go beyond sustainable tourism so that tourism development can progress. However, it is still apparent that the rising focus on the climate change, environment, and sustainable development has led to wider planning perspectives for tourism worldwide, overcoming previous fixations with marketing growth and economic strategies (Kozak & Baloglu, 2010). Such a shift toward a sustainable development platform is representing a major step forward for the tourism

Concepts of Marriage: Reflective Essay

Concepts of Marriage: Reflective Essay What is marriage? To many marriage is a milestone accomplished over the course of their life, and once achieved, giving them the feeling of being complete. To others, marriage is what makes their relationship official in a way and is what keeps them monogamous to one another. Where a big party, wedding cake, and wedding bands are what make a couple no longer available to anyone else but their spouse. In better terms, the definition of marriage is a legal or formal recognized union of a man and a women or even same sex- as partners in a solid relationship. It seems that the entire concept of marriage has always been here, there, and everywhere. After reviewing videos and material written about marriage, it is clear to see that there are many stand points on the topic. Though many people advocate marriage and preach all that it stands for. Others on the other hand are fighting and argue to get rid of marriage altogether. On one of the videos that was shared in class called, Cancel Marriage consisted of a lengthy video where Merav Michaeli went deep into defining marriage and the true meaning behind husband and wife. Husband ultimately turned out to origin from the word householder or owner, while wife is derived from the terms shame and vulva. It makes you question why from the beginning of marriage, a married couple who have children were only able to carry the fathers name. To go further in to detail and really have a better understanding behind marriage in todays society, as a class we were all to collaborate amongst ourselves to put together a survey in which we could use as an instrument to interview five couples- ten individuals. The task was limited and the questionnaire added up to twenty-four unique and bold questions that the individuals asked could either answer or refuse to answer. Each question consisted of either short answer responses and even long ones. We were instructed not to write any names down and keep all answers given to us confidential and anonymous. Once each of us had the opportunity to put our final survey questionnaire to use, we counted the answers to each question and brought the total to class. Some of the questions involved in the questionnaire where, Do you respect your spouse?, Do you ever think about divorce?, and What is your secret for sustaining your marriage? Explain. No doubt that the result received from the final survey questionnaire were intriguing but the lessons learned from the responses and the event altogether was what we all walked away with. Some lessons about the survey method that even though we all had our own questions in mind to contribute, it took a while for the survey to be put together and finalized. The lesson behind this struggle taught us to think outside the box and be open to other peoples viewpoints. The lesson learned the topic stood out to us because marriage is something that has crossed our minds at least once before and we learned that even though you may not relate to a topic because you are not married, does not mean you cant connect to the topic and work together to find answers. Of course, many of us were able to take away important factors that contribute to a strong research process. If asked what lesson I learned from the research part of this assignment, was simply the interviewing part to it. I was incredulous on how to go about approaching ten individuals and ask about their married life. Though in class we were instructed to approach everyone and introduce ourselves as students and ask the subject to help with our assignment. This seemed harder said than done. Lesson learned here was that even though you may have done excellent and extensive research on the topic sometime the actual act of getting answers may be hardest part. With all this said, a lesson that I learned about myself are a couple. Firstly, I learned that it is fine to not always know how to approach a hard topic that you cant relate with because it doesnt pertain to you, but this could be turned into an even better reason to tackle it on anyway just to be more self-aware on the matter. Another lesson I learned about myself came from the subjects that I interacted with and how everyone you encounter knows something that you do not know. At the end of each questionnaire I was able to have a fulfilling sense of accomplishment because I was holding information about people who I either knew or didnt know, and with this task done I was able to have a different perspective on the topic of marriage and people.ÂÂ   I learned that I have a way with speaking to people and despite being convinced that approaching others is not my strong suit, I did very well for my first time. The lesson I took away about myself was to give myself more credit whe n faced in these situations and never stop searching for answers no matter what my inner voice may negatively say to myself. All things considered, the total of answers put together as a class was not at all to shocking. Marriage seemed to be divided into an act that genuinely rooted from love and the other half seemed to have happened in order to benefit from what we know as The Marriage Premium which included happiness, health, and economic security. Though overall, there was much satisfaction from the marriages we surveyed, I still stand with my personal views on the matter. Marriage was an institution made up in a time where women had absolutely no status before the law and were merrily property. Why is that today in 2016, where we live in a modernized world with modern women and men, that we still have such an institution as this that still exists. When this institution was created, its sole purpose was for a woman to make a living and be able to stand up on her own, therefore, a woman could not afford not to get married. After all, marriage to me is an understanding that in order to move up in life I must become a wife and be wed to a man. I dont buy into this whatsoever when we live in a world where women are continuing to fight for equal pay and rights. This to me is proof that marriage is a myth in order to keep women from rising to power and ultimately their true potential. Marriage to me equals control, and if Ive learned anything about the government system in the U.S; it is that control means a lot to those who obtain it and that is why the government practically pushes the population to marry in order to keep the control. This can easily be proved by the fact that governments give money and visas based on marriage. Marriage is a default option that must be taken down. To sum up, marriage is one of the many institutions pushed among us that must be teared down in order to build something new. If times are changing so must our ideas and the ways we approach things that will benefit everyone not just certain individuals who agree to take part of an institution that does not cover everyone. References Seccombe, Karen. Exploring marriages and families. Boston, MA: Allyn Bacon, 2012. Print.

Deviant Behavior/Tattoos Essay

Beginning from a child we begin to experience different situations and interactions with others. We start getting taught the difference between right and wrong, what may be considered good and what is considered bad, and also taught the things we should and should not do. As we grow older we try to refrain from behavior of which society may disapprove of. Society see’s certain types of behavior as being deviant. First let’s begin by explaining what is a deviant behavior? Deviant behavior can be any behavior that does not conform to what people may consider normal, a behavior that does not meet with many expectations in society. Societies are both social structure and culture. Robert K Merton developed structural strain theory which is a perspective on what is deviance (Crossman, (n. d. )). There are many variations or meanings of what can be considered a deviant behavior. Merton has five categories in which he classified as conformists, ritualists, innovators, retreatists and rebels. Everyone at some time in their life has done a deviant act, some may have continued on with that behavior. Rebels stands up to their own opinions and disregard what is norm or others opinions. Rebels can be considered deviant because of their choices in life. Tattooed people are considered rebels because they decided to mark the skin with art. For instance are tattoos considered a deviant behavior? There was a study done at the Texas Tech University which its findings stated that the number of tattoos that a person has then the more â€Å"deviance† they are involved in (Beck, (n. . )). Their findings were based off of people who may have one tattoo versus those with four or more tattoos. Some would say that people with tattoos are rebels and deviant. Tattooed people considered risk-takers and non-conforming (Arndt, A. , Glassman, M. , 2012). Today tattoos have started to become more accepted from work environments to everyday life. Some view tattoos as a form of art. Tattoos h ave become increasingly common among the current generations. Tattoos have become somewhat of a fashion statement. Tattoos are stigmatized as aggressive and deviant because it was once commonly known among â€Å"out group†, outlaws, criminals, bikers, prisoners, and etc. , (Heywood,Patrick, Smith, Pitts, Richters, Shelley, (n. d)). People who obtain tattoos are more perceived negatively towards tattooed figures than that of non-tattooed adults. Women with tattoos are more negatively looked upon than men. There is a type of control over people with tattoos and employment. Many employers try not to hire people with tattoos especially as sales representatives. Studies have showed that people with tattoos that are interested in what is sold would gravitate more towards a sales representative with tattoos. As a female with tattoos, I can say that I have personally seen the difference in the way that people may treat me because of my body modifications. Even with body modifications studies may show that the more tattoos and piercings the more deviant the person. I cannot truly agree with this. Tattoos in the tattoo wearer’s eyes are more of a creative freedom or an art form.

I Am Mirror: A Historical Critique Essay

Claribel Alegr? a in Nicaragua in 1924 and a year later her family was exiled to El Salvador because of her father’s support of Nicaraguan guerrilla leader Augusto Cesar Sandino, Alegria’s family was forced into exile by Anastasio Somoza, a Nicaraguan politician who later became commander-in-chief of the Nicaraguan army and eventually the nation’s president. Her poem I am Mirror was translated in 1978. And is the topic for this critique. In 1978 Alegr? a would be in the United States she left El Salvador in 1943 to study at George Washington University. From 1924 to her departure to the United States there was much violence in her home country in 1932 there was a massacre in which over a period of eight days thirty thousand peasants were estimated to be slaughtered by the vastly superiorly armed El Salvador army. The country also has vast disparity of wealth with one half to one percent controlling ninety percent of the nation’s wealth. The poem states: Water sparkles on my skin and I don’t feel it water streams down my back I don’t feel it I rub myself with a towel  I pinch myself in the arm I don’t feel frightened I look at myself in the mirror she also pricks herself I begin to get dressed This is identifying that wealthy portion of the population that controls 90 percent of the country’s wealth. It is describing their lack of humanity to allow the rest of the population to suffer in great poverty. The author uses this lack of feeling to question if their humanity has been lost. Given that Claribel was able to afford an American education like many of the wealthy amilies did it stands to wonder how much she associated herself with the wealthy. Perhaps it’s contributed by her support for non-violence and the poor given that she did come from some resemblance of wealth herself. In the following stanza it gives evidence that the character of the poem was wealthy: I wander through the streets: children with dirty faces ask me for charity The children could be desperate enough to be asking anyone but the character given that they were doing better than most at the time. But then again it does say paint a pretty desperate picture with â€Å"child prostitution† and â€Å"shouts like lightning bolts† Military enforced oppression was the times. The use of a mirror as a metaphor could also be alluding to the killing of one and wounding of five students protesting the government spending of one million dollars to bring the Miss Universe pageant to El Salvador. Of course during the program all that was shown were the beautiful sandy beaches and failed to show the massive poverty or military security around the contest. This is a portion from the poem: â€Å"I am a blank mirror that nothing penetrates my surface is hard is brilliant is polished I became a mirror and I am fleshless scarcely preserving a vague memory of pain. † This demonstrates how the government oppression and the atrocities resulting from the oppressive military rule were covered up by the government. Going back to the massacre of 1932 the government swiftly removed all accounts of the event from the libraries and replaced them with more favorable accounts. It was the way of life in El Salvador. The poor see much of the same everywhere they go poor. While rich control so much of the wealth they can afford to shield themselves from it. And the atrocities they never happened because the government says they didn’t. As it says in the poem: I simply reflect what happens at my side the tanks are not tanks nor are the shouts shouts The above demonstrates the denial that the people have even goes as far to describe them as â€Å"phantoms† with how they do nothing to change. Which leads me to one of my favorite lines â€Å"I hurt, therefore I exist† which is likely an adaptation of Descartes’s â€Å"I think therefore I am. † In this situation she is saying that the lack of humanity of those who are the oppressors have stripped them from their existence. Furthermore as you read the poem it seems as if the character is coming to an epiphany but then recedes back right after the stanza â€Å"I think, therefore I exist. † This is probably used to show how permanent the stories last in the media how quickly something like the killing of the student protester outside of the Mrs.  Universe can become a national headline and then slip from the attention of any news outlet. The symbolism of a mirror is also further represented with how a mirror project a current image but does not contain any of its past. In 1979 a year after this poem was translated and Alegr? a was awarded the Casa de las Americas poetry prize for Sobrevivo. It is also the same year that the National Liberation overthrew the Somoza government. She continues to write about El Salvador and Nicaragua politics and resides in El Salvador, Spain and Nicaragua.

Why Im Writing The Book On 10x Marketing - CoSchedule Blog

Why Im Writing The Book On 10x Marketing Blog Many of you have asked when  (not if) I’d write a book. Answer: Now! So for those of you who are already totally on board with getting the book on marketing from your friends at †¦ †¦subscribe to this exclusive email list to get the first chapter for FREE right now. You’ll also stay up to speed on its progress and get early access for pre-ordering. And youll get access to the 10x Marketing LinkedIn Group to bounce ideas off other 10x marketers (including your friends at ). Do it now! Now: If the fact that so many marketers have asked me to write this book isn’t enough reasoning behind its creation†¦ read on (or watch) to learn why  Ive decided to write the  book on The 10x Marketing Formula. Yet Another  Marketing Book? The world doesn’t need another â€Å"copycat† marketing book. In fact, the world doesn’t need any more â€Å"copycat† content whatsoever. So†¦ what sets this  book apart? And more importantly†¦ why do marketers like you need this  book? Why Im Writing The Book On 10x MarketingContent Marketing Isn’t Living Up To Its Promises For the past several years, content marketing has been all the rage. There are current success stories seemingly everywhere. But even though content marketing has been a successfully established tactic for more than a century, lately†¦ it’s not living up to the hype. The thing is, you’ve already petitioned your boss to try this. You have the software. You have the processes. But actual results? Crickets. As marketers, we’re struggling more than ever before to prove that what we’re doing is really working. And even with all of the promises of content marketing†¦ we’re hitting what Gartner calls the trough of disillusionment. Gartner has discovered a pattern in technology adoption for business use they call the â€Å"Hype Cycle†. Essentially, it looks like this: Something new emerges (new channels, tactics, technology, etc.). Early adopters embrace the new. Expectations soar due to a few success stories. Way more people jump on board expecting the same success. Then†¦ crushing defeat. Does that sound like your  content marketing? ^^^ It was feeling that way to us at . That is†¦ until we embraced The 10x Marketing Formula. Heres why @embraced the 10X marketing formula.The Solution To Actually  Generate Results = The 10x Marketing Formula Like I imagine so many of you have experienced, we adopted content marketing with high hopes here at . When we started up, we needed the traffic†¦ we needed the success story to be our  story†¦ but we weren’t getting it. Instead, we found quality + consistent content wasn’t- and couldn’t- be the promised driver of ROI. It just wasn’t enough. What we discovered was the need to develop and refine the content marketing process. All of that with the goal of driving real growth, measurable return, and 10x results. Since then, we’ve honed The 10x Marketing Formula to grow from zero customers to 9,000+, zero email subscribers to 250,000+, and pageviews from zero to 1.5 million every single month. And we did it all in less than four years. This book gives away everything we’ve learned along the way. It’s the secret to unlocking results, getting your boss off your back, and justifying better resources. When we started, we looked for books like this. They just didn’t exist. But we needed this  book- this  10x Marketing Formula- to get our own marketing team out of content marketing’s trough of disillusionment. That’s why Im writing it now. This book shares the growth levers we’ve discovered as we matured. We’ve reached some major growth numbers. And this book teaches you how to blow up your numbers, too. Because in the end†¦ it’s not publish or die. It’s results or die.

Environment-behaviour relationships have been systematically studied by psychologists The WritePass Journal

Environment-behaviour relationships have been systematically studied by psychologists References Environment-behaviour relationships have been systematically studied by psychologists Introduction Some Important Issues in Previous Studies A concept of the store environmentThe Mehrabian-Russell environmental psychology model The Relationship between Emotions and Shopping Behaviours PleasureArousalDominance Discussion of Other Previous FindingsMultiple effects of store environment Moderating role of consumer characteristics MethodologyReferencesRelated Introduction Environment-behavior relationships have been systematically studied by psychologists and a discipline was produced which known as ‘environmental psychology’, however, rarely attention was directed to the retail store environment. Meanwhile, there was a growing appeal to explain the variation in buyer behaviour by situational influences due to limitations in the ability of consumer characteristics. Thus, the purpose of this thesis is to analyse and understand the effect of store environment on shopping behaviour. First, some important issues applied in this area should be clarified. One is related to the description of store environment. The other is about the Mehrabian-Russell model, which played a vital role in the study of store atmosphere. Then the paper proceeds by summarizing and comparing some findings related to the relationship between three emotional states aroused by the environment and shopping behaviours. In the next chapter, it is concerned other previous fi ndings, such as multiple effects of store environment and the moderated role of consumer characteristics in this relationship. The final part of the essay will give rise to thinking of the methodology authors used and the statistical validity of those findings. Some Important Issues in Previous Studies A concept of the store environment An adequate concept of the store environment is the premise of the study of situational influence in consumer behaviour. Although there is not a complete definition of environment, it is widely accepted that environment is an extended concept which at least includes situations and behavioural settings. A situation comprised a point in time and space was proposed by Belk (1975a) and according to Barker (1968), a behaviour setting is not only bounded in time, also by a complete sequence of behaviour or an action pattern. Additionally, Mehrabian and Russell (1974) also attempted to develop three comprehensive situational descriptors (pleasure, arousal and dominance) in their model; however, none of them depicts a satisfying array of situational dimensions. On the basis of Belk’s (1975b) definition which comprises five groups of situational characteristics, the store environment could contain the physical and social surroundings of a store, the temporal dimension (ranging from tim e of day to season of the year), task definition features (an intent or requirement for a general or specific purchase) and antecedent states (momentary moods and conditions). The Mehrabian-Russell environmental psychology model A leading environmental psychology approach, the Mehrabian-Russell (M-R) model, was firstly introduced by Donovan and Rossiter (1982) in the retail context. It has become the basis of most research about the impact of environmental factors on shopping behaviour since that time. This model is based on the Stimulus-Organism-Response (S-O-R) paradigm, relating features of the environment (S) to approach-avoidance behaviours (R) within the environment, mediated by the individual’s emotional states (O) aroused by the environment; but this model mainly focuses on the O-R aspects and proposes a general measure of S. Mehrabian and Russell (1974) also proposed three basic emotional states (pleasure, arousal and dominance, acronym PAD) which mediated approach-avoidance behaviours in the environment and were adopted in majority of studies in emotional respond. The Relationship between Emotions and Shopping Behaviours There are some debates in the study of the relationship between emotions induced by a particular environment and shopping behaviours in this environment. The rest of the chapter will respectively exam the related findings based on three emotional states proposed in the M-R model. Pleasure Donovan and Rossiter (1982) concluded that store-induced pleasure was a powerful determinant of approach-avoidance behaviours within the store and also showed moderate relationships with specific within-store behavioural intentions: time (Coefficient=.51) and spend (Coefficient =.40). Afterwards, Donovan et al. (1994) extended that study and demonstrated shoppers’ emotional states within the store can predict actual purchase behaviour, not only just attitudes or intentions. That is, pleasure is significantly related to extra time and unplanned spending in pleasant environment. What the foregoing suggests is that pleasantness has a consistently positive effect on shopping behaviour in the literature. Arousal Arousal dimension, refers to store-induced feelings of alertness and excitement, was found not consistent with the two studies between Donovan and Rossiter (1982) and Donovan et al. (1994). In Donovan and Rossiter’s (1982) study which involved different types of retail stores, arousal was not significantly related to approach-avoidance behaviours, but according to the M-R model, arousal should be hypothesized to interact conditionally with pleasure. After given a pleasant store environment, arousal emerged as a significant predictor of approach intentions for time (Coefficient=.40) and the regression coefficient for spend (Coefficient=.18) was also in the right direction but did not reach significant. In other words, inducement of arousal amplifies approach behaviour in pleasant store environment and enlarges avoidance behaviour in unpleasant store environment. Hence, emotional states sometimes can be presented by some combination of two major dimensions: pleasure and arousal. However, Donovan et al. (1994) failed to confirm this relationship in the study conducted only in discount stores. First, arousal was not significant in pleasant environment. Second, arousal approached significance for unplanned spending, but in the negative direction. From Kaltcheva and Weitz’s (2006) point of view, this inconsistent finding implied arousal effects might be moderated by a previously unidentified situational variable, namely, the consumers’ motivational orientation. They have conducted two experiments using ANOVA on those three elements, motivational orientation, arousal and pleasantness to confirm the interactive effect. Finally, it was concluded that arousal and motivational orientation had an interactive effect which was mediated by pleasantness on shopping behaviour. Specifically, high arousal environments, which create rich shopping experiences, have a positive effect on pleasantness for recreation-oriented motivational consumers. Conversely, aro usal had no significant effect on shopping behaviour intentions with regard to task-oriented consumers. Dominance The dominance factor is usually been deleted when using the M-R model. Although Donovan and Rossiter (1982) retained the initial tridimensional (PAD) classification, the analysis indicated that the dominance dimension was not significantly related to any of the approach-avoidance measures apart from the general regression results. Furthermore, a slight negative relationship between dominance and spend was shown, but that result was very tentative because it was based on two of the weakest measure (Coefficient Alpha .7). In contrast to regarding the role of dominance as unimportant, several authors supported that future theory development should include it as a vital emotion influencing shopping behaviour. One reason for that is a new relationship between dominance and shopper behaviour has found in certain types of consumers. As Babin and Darden (1995) stated, feelings of dominance could significantly alter shopping behaviour among those in self-regulation and it only affected state -oriented shoppers who possessed a cognitive structure guided more by social and emotional elements of some internal or external state. The other reason attributes to the poor scope of consumer settings was employed which leaded to the disappointing results for dominance (Foxall and Greenley, 1999). After employing Mehrabian-Russell’s approach to environmental psychology based on a systematic theory of consumer situations, namely the Behavioural Perspective Model (BPM), the relationships between dominance and approach (positive) and dominance and avoidance (negative) appeared. Therefore, those results support the adoption of the BPM model in environmental consumer research, which makes a contribution to the selection of a range of consumer situations and the distinction between open and closed consumer behaviour settings. To summarize, two generally recognized findings were drawn in the study of the relationship between emotions induced by a particular environment and shopping behaviours. First, shoppers’ emotions can be largely represented by the pleasure and arousal factors (Donovan and Rossiter, 1982; Donovan et al., 1994) and the dominance dimension seems to be important for certain types of shoppers and retail settings (Babin and Darden, 1995; Foxall and Greenley, 1999). Second, those three emotional states, mainly pleasure and arousal dimensions, affect a variety of shopping behaviours and outcomes, including extra time spent and actual unplanned spending (Donovan and Rossiter, 1982; Donovan et al., 1994). Discussion of Other Previous Findings Apart from some important findings discussed in the previous chapter, issues of multiple effects of store environment and moderating role of consumer characteristics were also considered in the previous research. Meanwhile, several propositions for future research will be suggested. Multiple effects of store environment The effects of store environment elements could be complex and they could influence shoppers’ behaviours through their impacts on emotion (PAD), cognition (attention, evaluations, information search, etc.) and physiological state (Lam, 2001). With the exception of Donovan et al. (1994), all studies discussed in this thesis are only focus on the emotional effects of store environment on behaviours. In Donovan et al.’s (1994) research, they investigated the multiple effects (emotional factors and cognitive factors) of store environment simultaneously. By adding the emotional variables to the cognitive variables to predict the change in extra time, the variance accounted for increased from (a non-significant) 5% (F=1.72) to (a significant) 21% (F=3.62), and to the prediction of unplanned spending, went up from 18% (F=4.34) to 35% (F=6.40) (both significant). Hence, those results explain that the effects of the emotional factors of pleasure and arousal can be additional to cognitive factors such as quality, variety, specialing and value for money.   It was displayed that some environmental elements may have multiple impacts on shoppers’ behaviours. Therefore, it is worth studying the single and hybrid effects and analysing which is the primary effect in a particular environment. Moderating role of consumer characteristics Due to the fact that researchers used the environment of different stores as manipulations in their analysis, many considerable works about store-based emotions’ consequences were addressed (Lam, 2001). Though Donovan and Rossiter (1982) suggested that the impact of individual differences should also be pursued especially in the same physical environment, relatively little attention been given to the effect of personal characteristics on the relationship between shoppers’ emotions and behaviours in the environment. Donovan et al. (1994) only considered that effect at the stage of collecting the data. They selected shoppers who were relatively unfamiliar with the store as their sample to minimize self-selection effects on their findings. In addition, Babin and Darden (1995) regarded this topic by concerning the role of individual differences and ultimately examined consumer self-regulation as a partial explanation for the variance in consumer behaviour and postshopping e valuations. In sum, the moderated role of consumer characteristics has extended the knowledge concerning the effects of retail environment on behaviour. However, consumer self-regulation is just one of the factors of consumer characteristics, so many other elements could be developed in future research, for example, consumer shopping experiences with the store. Variable reactions in the same environment may be performed between new consumers and regular consumers. New customers may more rely on some tangible cues and merchandise because of their little knowledge or experience about other attributes of the store environment. Methodology It is widely known that the correlation between explanatory variables and the experimental design will has an influence on the power of hypothesis testing and validity of the conclusion. In terms of the data analysis, although all the journal articles reviewed here used quantitative methodology, qualitative methodology was also adopted by others (Lam, 2001); for example, using the method of in-depth interview with shoppers or participant observations to record their responses to the environment. With regard to sample selection and situational manipulation, methods applied in earlier studies were limited in three aspects. Firstly, the sample was confined to student (Donovan and Rossiter, 1982; Kaltcheva and Weitz’s, 2006). Second, verbal descriptions of situations were employed or a simulated store environment was created rather than exposing respondents to actual consumer environments (Babin and Darden, 1995; Foxall and Greenley, 1999; Kaltcheva and Weitz’s, 2006). Third, the study is lack of theoretical coherence, relying on invented situations rather than conceptually linked environments. However, some authors have made some improvements in their researches. For example, Donovan et al. (1994) impressively overcame two of these limitations by using actual consumers (60 female shoppers) in real consumer settings (at two discount department stores), but the generality of their findings was lower because it was only conducted in one type of store environment. Lik ewise, Kaltcheva and Weitz (2006) improved two limitations by employing 142 actual consumers who responded to and selecting a range of consumer situations based systematically on the BPM framework. Although the coefficients of the test were small, all results of three emotional dimensions were significant and in the predicted direction, however, their research did not overcome all those three limitations. In order to increase the external validity, future research could incorporate actual consumer settings to the range of BMP-generated environment instead of simulated environments because verbal descriptions can be value-laden (Baker et al., 1992). Moreover, Belk (1975b) suggested that the best means of manipulation is to ‘combine written descriptions of features with visual and auditory input of physical and social surroundings. References Babin, B. J. and Darden, W. R. (1995), ‘Consumer Self-Regulation in a Retail Environment.’ Journal of Retailing, Vol. 71 (1), pp. 47-70. Baker, J., Levy, M. and Grewal, D. (1992), ‘An Experimental Approach to Making Retail Store Environmental Decisions,’ Journal of Retailing, Vol. 68 (4), pp. 445-60. Belk, R. W. (1975a), ‘The Objective Situation as a Determinant of Consumer Behaviour,’ in Mary Jane Schlinger (ed.), Advances in Consumer Research, Vol. 2, Chicago: Association for Consumer Research. Belk, R. W. (1975b), ‘Situational Variables and Consumer Behaviour.’ Journal of Consumer Research, Vol. 2 (December), pp. 157-164. Donovan, R. J. and Rossiter, J. R. (1982), ‘Store Atmosphere: An Environmental Psychology Approach.’ Journal of Retailing, Vol. 58 (1), pp. 34-57. Donovan, R. J., Rossiter, J. R., Marcoolyn, G. and Nesdale, A. (1994), ‘Store Atmosphere and Purchasing Behaviour.’ Journal of Retailing, Vol. 70 (3), pp. 283-294. Foxall, G. R. and Greenley, G. E. (1999), ‘Consumers Emotional Responses to Service Environments.’ Journal of Business Research, Vol. 46, pp. 149-158. Kaltcheva, V. D. and Weitz, B. A. (2006), ‘When Should a Retailer Create an Exciting Store Environment?’ Journal of Marketing, Vol. 70 (January), pp. 107-118. Lam, S. Y. (2001), ‘The Effects of Store Environment on Shopping Behaviours: A Critical Review.’ Advances in Consumer Research, Vol. 28, pp. 190-196.

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State budget cuts influence on students - Research Paper Example of education, factors that influence college choice, factors that contribute to college dropouts and students opinions on the effects of cuts in the state budget to education. -Many of the respondents surveyed were in their third year of study (60%), while a significant 24% were in their third year of study with the remaining proportion covering freshmen students and second year students. -The email response from the questionnaires indicated that the average cost of education, including tuition, room and board added up to $16,000 at least for all public state colleges while that of private colleges added up to $37,000 -Nearly 10 out of the 15 students interviewed responded relying on loans to assist them with college financing costs. Equally, a third of the respondents relied on part time jobs to help cater for college costs, that was often complemented by parent’s support with 11 out of 15 getting regular support from their parents. A similar number also relies on college scholarship and financial aid to clear their college bills. -13 out 15 of all the participants interviewed reported being always concerned about having enough financial resources to utilize while still in college in providing for daily expenditures. Economizing was reported as a tradition employed for the college years, occasioned by tough economic times in the real world. -In the age bracket of 18-25 sampled for this survey, many of the participants, 76% cited difficulties associated with money as the driving force for college drop out. Other issues as bad grades and peer influence also emerged as strong reasons for college drop out. -Many of the college students surveyed reported feeling uncomfortable with borrowing to finance their education. This they say becomes unbearable as they are unable to pay the money borrowed within the appropriate period and as such loans accrue to longer periods of time attracting higher fines and interest rates that accrue. -Despite high costs associated

Investing in Low Income Housing Tax Credits Essay Example for Free

Investing in Low Income Housing Tax Credits Essay Overview of the LIHTC The Low Income Housing Tax Credit (LIHTC) provides incentives for corporations and individuals to invest in the acquisition, development and rehabilitation of affordable housing. The program offers federal tax credits to private equity investors that work with profit or non-profit developers in constructing or renovating rental properties for low-income tenants, those who earn 60 percent or less of the median family income for their county. As of 2010, the program has sparked the construction of over 1.7 million housing units throughout the country. The IRS allocates federal tax credits to Housing Credit Agencies (HCAs) in each state based on its population. HCAs award credits to housing developers based on their Qualified Allocation Plan (QAP), a rigorous and competitive application used to determine which developers will receive the credits. Once credits are acquired, equity investors purchase an interest in the business entity generating the tax credits, namely a limited partnership or limited liability company. The equity generated from the investor’s purchase is used to fund the property development. The tax credits are redeemed annually by investors over a ten-year period following the date that the property becomes operational, or â€Å"placed in service.† The number of tax credits, and subsequently the amount of equity raised, is calculated by computing the eligible basis, or the dollar amount of all depreciable costs of the project (which excludes the cost of land acquisition and operating reserves) minus ineligible sources of funding like grants or federal subsidies. The eligible basis is then multiplied by the percentage of eligible tax credit units in the project (at least 20 percent and up to 100 percent of all units in the building) to calculate the â€Å"qualified basis.† The investor may later claim either 9 percent or 4 percent of the qualified basis amount in tax credits per year, depending on whether the project is a new construction or rehabilitation of an existing structure.. As of March 2012, the average price for a credit is around $.94. Price fluctuates depending on the geography of the deal, the size of the project, the perceived risk of failure, and whether the project is a new construction or rehabilitation. In order to redeem the credits, the property must rent either 20 percent or more of the units to tenants whose incomes are at or below 50 percent or less of the area median gross income, or 40 percent or more of the units to tenants whose incomes are at or below 60 percent or less of the area median gross income. The property must fulfill these and other operational requirements for a 15-year compliance period. Failure to meet these requirements during the compliance period results in an IRS recapture of tax credits plus interest and penalties. Many states offer their own affordable housing tax credits to provide further incentives by increasing potential returns. Projects in certain areas (Difficult Development Areas) receive a 30 percent increase in qualified basis as well. Options for Investment in LIHTC LIHTC transactions are structured such that the developer manages the day-to-day operation of the property while the investor takes a passive role in management and collects virtually all the tax credits. The parties create a limited partnership or limited liability company where the investor is typically a 99.99% limited partner or non-managing member and the developer is a 0.01% general partner or managing member. This method shields investors from liability beyond their capital contributions and allows the developer to maintain control over management affairs. There are two methods of investing in LIHTCs. The first is a direct investment or private placement, where the investor purchases the rights to future tax credits from a single developer in return for an equity contribution. The developer and investor form a limited partnership where the investor retains a 99.99% ownership interest and claims use of 99.99% of the tax credits and other benefits. Large banks and blue-chip corporations are the typical direct investors, mainly because they possess vast amounts of financial and administrative resources. Private placements are adequate namely for single entities that manage their own investment affairs and desire complete transparency throughout the project. These investors generate more net equity since they save costs otherwise incurred by hiring syndicated funds to choose and underwrite the affordable housing development project. Another avenue through which to invest in tax credits is with a syndicator, a financial intermediary that raises funding from many investors, usually on an annual basis, and makes equity capital contributions to multiple affordable housing projects. Indirect Investment through syndicated funds provides a means by which individual investors, small community banks, and small corporations without the resources of large banks can invest in LIHTCs. A syndicator will attract investors and form a limited partnership agreement where the syndicator typically holds a .01% interest as general partner and various investors will comprise the other 99.99% ownership interest as limited partners. This limited partnership syndicate fund will then become the 99.99% limited partner in several LIHTC projects to allow tax credits to pass through to investors. The syndicator investigates the market for affordable housing development and chooses a number of projects in which to invest. The syndicator then directs private equity capital from the limited partners of the syndicate fund to multiple affordable housing developments and returns tax credits back to each investor in proportion to their capital contribution. A few syndicate funds have missions that are aligned with non-profit developers. A syndicator’s experience with affordable housing development is invaluable to investors as it minimizes risk and increases investor confidence. The syndicator does all due diligence and underwriting for the project, so investors can take a passive role. Syndicate funds are ideal for investors that cannot afford to hire relationship managers, compliance specialists, and underwriters to oversee development. A Worthwhile Investment Alternative A tax credit provides a dollar-for-dollar reduction in tax liability, unlike deductions that simply reduce the amount of taxable income for a particular taxable year. Even though investors contribute capital based on the amount paid per tax credit, other tax benefits are transferred to the investor in the form of passive losses and deductions available to any holder of rental real estate property. These include property depreciation deductions, interest expenses, business and maintenance costs, and others. Savings from tax-deductible expenses may not have the financial impact of a tax credit, but it provides a quantifiable saving to the investor that helps add measurable value to tax credits beyond the amount of proportional tax liability they reduce. A qualifying tax credit investment results in a decrease of tax liability. The economic return on the investment, therefore, is not subject to state or federal taxation, unlike dividends or interest income from stocks or bonds. A dollar amount of taxable income is thus inherently less valuable than an identical amount of tax credits. Certain passive loss restrictions and the Alternative Minimum Tax render tax credits less useful for the large majority of individual investors. Nonetheless, LIHTC projects were giving investors returns as high as 25%-30% during the early stages of the program. After growing competition increased pricing in the market for tax credits, yields have consistently shown 4%+ annual returns in recent years. LIHTC projects provide excellent returns for the risk involved, considering other investment alternatives available. While the stock market has historically given investors long-term returns of approximately 10% per year on average, there are sharp fluctuations from year to year. The stock market is also considered a more risky investment in comparison to U.S. treasury bonds or other corporate notes. The yields on these safer bonds are much less than that of the stock market. Investments in tax credits provide an interesting combination of risk mitigation potential and impressive earning yields. Unfortunately, the average investor has no control over the valuation of a certain corporate security, much less the performance of a mutual or index fund. However, private placement investors and syndicate fund managers can and do provide for stringent oversight requirements through contractual obligations imposed on the developer, which in turn helps mitigate risk of project failure. A rise in the valuation of a corporate security usually requires an indicator of increased earnings in the future, whether it is the introduction of a more efficient manufacturing technique, the release or upgrade of a new or existing product, or a similar corporate action. Any increase in the value of a security may be short-lived. An investor only realizes gain after a sale; that gain is taxed. LIHTC projects, on the other hand, do not require entire securities markets to move in order to obtain a profit. Aside from rigorous paperwork and professional fees, the tax credits will eventually fall in the hands of the investors so long as the developer does not fail to meet the various compliance requirements for the specified period. With continuous oversight, investors and fund managers can establish timelines for performance that may readily identify any setbacks or obstacles to completion. This may afford time to expedite construction or development and perhaps cure any potential defects in the plan. On the downside, securities markets provide instant liquidity; LIHTC projects require at least 11 years to harvest all profits. Timelines provide further protection when equity contributions are made in response to the developer meeting certain milestones that render project completion more likely. By disbursing equity in stages, investors exert more control over the project’s development and may elect to alter the course of the project. For instance, the investor may attempt to remove the developer if confidence is undermined. The 15-year compliance period provides an identifiable date of exit, after which all profits (in the form of tax credit use) have been harvested. If investors decide to exit the venture, a secondary market has emerged where an investor may be able to sell the credits to third parties. Legislation passed in 2008 allows limited partners to sell their ownership interests in affordable housing properties without facing recapture so long as the properties continue to operate as affordable housing. This allows a shortened holding period of up to 11 years as long as the property meets the 15-year compliance requirements. These advantages are largely unavailable to stock market investors and make tax credits a safe, viable and profitable investment alternative. These benefits apply uniformly to any tax credit investor. Large Banks, Larger Benefits Large banks and financial institutions are provided with a number of benefits that are generally inapplicable to individual and corporate investors, which in turn make credits more valuable and increases their market price. Banks subject to the Community Reinvestment Act (CRA) are required to engage in certain activities that improve community development. Direct investments and loans made to LIHTC projects, or syndicated funds that invest therein, are considered qualified activities under the CRA. Banks receive positive CRA consideration not only for these loans and investments to community projects, but also when equity is transferred to LIHTC projects that serve broader statewide or regional areas that include a particular bank’s assessment area. An unsatisfactory CRA rating can cause banks to be denied or delayed in undertaking certain business activities like mergers, acquisitions, or the expansion of services. Thus, banks have strong incentives to invest in affordable housing development. LIHTCs are often a top choice for banks, who are obliged to make community development contributions, because not all CRA qualified activities provide similar returns. Financial institutions also benefit from establishing banking relationships with real estate developers. This allows banks to expand their revenues by providing new services to the project like pre-development loans, construction loans, mortgage financing, and credit lines. Bridge loans are especially enticing, where banks loan large amounts of capital to syndicated funds or other Private Placement investors without the cash reserves to make the up-front equity contributions required by developers before any tax credits can be redeemed. Moreover, banks have the financial capacity to create long-lasting resources to assist in affordable housing investment. The underwriting and due diligence for a LIHTC project requires a number of services and incurs various costs. While syndicated funds spread these costs over a number of investors, banks are in a position to pay for these costs themselves. By establishing separate departments to oversee tax credit financing, banks make a one-time investment in an oversight apparatus that will operate over an indefinite number of LIHTC projects. These in-house professionals will increase in value as their experience expands and efficiency improves. Any bank with the capacity to conduct private placement investing in LIHTCs probably does so. Syndicated Funds: Investment Mechanisms for the Unsophisticated Tax Credit Investor A multi-investor syndicated fund provides a number of additional benefits to potential tax credit investors. It is helpful to analogize syndicated funds to mutual funds for the purpose of identifying their advantages. Just like mutual funds, where fund managers collect funding from many investors and create a diversified portfolio that is professionally managed, syndicated funds act in a similar fashion. Syndicated funds invest in multiple affordable housing developments, often in various geographic regions and with different housing developers. This allows investors to spread risk amongst different LIHTC projects so that if one project fails, their entire equity commitment is not lost. Investing with multiple investors allocates risk of loss more evenly and makes LIHTC investments a safe investment alternative. Furthermore, reputable syndicated funds are professionally managed by experienced, sophisticated tax credit professionals that probably have more knowledge about tax credit investing than any prospective investor. Few institutions and entities have enough capital reserves to fund an entire project single-handedly; syndicated funds combine investor contributions, allowing small entities like community banks and mid-size companies to have the flexibility of choosing how much capital to contribute to tax credit investment. The end result is an excellent mechanism through which unconventional tax credit investors can participate in the competitive market for tax credits. Even though funds collect a percentage fee, diversified portfolios will likely contain projects in DDAs to provide marginal increases in tax benefits. Corporations and Tax Credits: A Good[will] Investment. LIHTC are beneficial to corporations because annual tax credits have a positive impact on earnings per share, since credits reduce tax liability without diluting earnings. Tax credits are usually a profitable investment because most companies sustain consistent tax liability for years on end. Tax credit investment declined during the 2008 market downturn, but has steadily increased with general economic improvement. Companies like Google, Verizon, Liberty Mutual, and others have invested in affordable housing developments across the country. An additional and measurable economic benefit to corporations is the increased value of a trademark or goodwill associated with a company that invests in community development. This type of investment may also attract positive publicity and media coverage, which in turn may increase corporate securities valuation. Large corporations are also in a coveted position to undertake direct investment and avoid paying fees to syndicated funds. Safe, but Not That Safe. While LIHTC investments may be safer than comparable investment with similar yields, the risks must be identified for informed decision-making. Potential tax credit recapture and loss is the greatest risk—the project must maintain specific requirements over a period of 15 years and strict deadlines must be met. The investor must assume the risk of any impediment to completion of construction, no matter how farfetched, and recapture liability remains with the initial investor even if the credits are sold on the secondary market. Risk of failure extends for a prolonged period of 15 years where strict operational requirements must be met. Due to the speculation involved in predicting construction costs, securing subsequent financing, and meeting compliance deadlines in light of potentially unforeseen adverse events, a project must be very precisely calculated to increase the chance of success. Entities and individuals that invest in syndicated funds are in a better position to identify risks due to stringent government-imposed requirements for prospectuses and offering memoranda to be distributed to all potential investors. Inexperienced syndicators might overlook a key responsibility that can cause the project to fail. Repurchase obligations arguably provide a false sense of security to investors because most developers have small balance sheets and cannot afford to match the investor’s contributions. The risks involved in LIHTC investment can be mitigated with proper planning, continuous oversight, and an experienced syndicator. Banks with in-house asset management units can oversee property maintenance. Although investors cede lien priority to the primary mortgage holder, foreclosure rates are relatively low and occupancy rates relatively high. Tax credit projects are viable investment alternatives. [ 1 ]. Catherine Such, Low Income Housing Tax Credits. Federal Reserve Bank of San Francisco Community Investments (Mar. 2002), http://www.frbsf.org/community/investments/lihtc.html. [ 2 ]. Michael J. Novogradac, Investing in Low-Income Housing Tax Credits, OCC Community Developments. (Mar. 2010), http://www.occ.gov/static/community-affairs/community-developments-investments/spring06/ investinginlowincome.htm. [ 3 ]. Id., See Understanding Low Income Housing Tax Credits: How to Secure Equity Investments and Evaluate Syndication Options. Corporation for Supportive Housing (Mar. 2006), http://documents.csh.org/documents/ ResourceCenter/DevOpsToolkit/UnderstandingLIHTCspdf.pdf. [ 4 ]. Sherrie L. Rhine, Low-Income Housing Tax Credits: Affordable Housing Investment Opportunities for Banks. Community Affairs Development (Feb. 2008), Found in Real Estate Law Clinic Course Reader, at p. 75. [ 5 ]. Lance Bocarsly, Real Estate Law Clinic Lecture. (Thursday September 6, 2012, 4:30pm.) [ 6 ]. Understanding Low Income Housing Tax Credits: How to Secure Equity Investments and Evaluate Syndication Options, supra, Corporation for Supportive Housing (Mar. 2006.) [ 7 ]. In actuality, the percentage of qualified basis that determines the amount of tax credits is not exactly 9 or 4 percent. The rate for the 4 percent credit floats in accordance with the Applicable Federal Rate and may fluctuate above or below 4 percent. The 9 percent credit will float beginning in 2013, although current legislation has been proposed to extend the 9 percent credit floor. House of Representatives Bill 3661 is making its way through Congress. See Mark Anderson, Tax Credit at Risk for Low Income Housing. Finance and Commerce (April 26, 2012, 4:35 pm). Available at http://finance-commerce.com/2012/04/tax-credit-at-risk-for-low-income-housing/. [ 8 ]. Low-Income Housing Tax Credit: Facts Figures, Novogradac Affordable Housing Resource Center. http://www.novoco.com/low_income_housing/facts_figures/index.php. [ 9 ]. Tim Iglesias and Rochelle E. Lento, The Legal Guide to Affordable Housing Development. Found in Real Estate Law Clinic Course Reader, at p. 28. [ 10 ]. Rhine, supra, Low-Income Housing Tax Credits: Affordable Housing Investment Opportunities for Banks.† Found in Real Estate Law Clinic Course Reader, at p. 87. [ 11 ]. Understanding Low Income Housing Tax Credits: How to Secure Equity Investments and Evaluate Syndication Options, supra, at p. 4. [ 12 ]. Id. [ 13 ]. Id. [ 14 ]. Novogradac, supra, Investing in Low-Income Housing Tax Credits. [ 15 ]. James L. Logue III, How LIHTC Funds Can Help Banks Invest in Affordable Housing. OCC: Community Developments (Spring 2006). http://www.occ.gov/static/community-affairs/community-developments-investments/ spring06/howlihtcfunds.htm. [ 16 ]. Id.