Investigating World Financial Markets Essay

The stock markets in consideration, the Dow Jones Industrial Average (DJIA), the Shanghai Stock Exchange Composite Index (SSE), and the Australian All Ordinaries (ASX-All Ords) are among the major stock markets in the world. The value of these stock markets often gauge the local economy and is considered as the benchmark of economic health within their regions (Kaeppel, 2009). For instance, DJIA is the primary indicator of US economic health. Along with the S&P 500 and NASDAQ, the Dow is a collection of the top 30 industrial and commercial companies in the United States. The dominant industries in the DJIA range from Banking, Oil and Mining, Heavy Industries, and Food Manufacturing among others. According to Yahoo! Finance for the past couple of years during the global economic recession, the composition of the Dow has changed as it did for the past decades. Particularly, banking giants Citigroup and AIG were replaced in mid-2009 by The Travel Company and Kraft Foods, respectively due to the former’s poor stock performance on the onset of the global recession. One particular similarity of the stock markets mentioned in this paper is how other markets (SSE & ASX All Ords) were affected by the crisis that started in the United States. The Shanghai Stock Exchange Composite Index was at its all-time high (6000-level) in 2007 but suddenly cascaded downwards to the 4000 level during the global recession. The SSE in recent years has become a significant stock market indicator in Asia along with the Nikkei 225 of Japan and the Hang Seng in Hong Kong. The Shanghai bourse is divided into 2: Shanghai-A for foreigners and Shanghai-B for the local Chinese. Dominant industries in the SSE are mining and commercial banking. For instance, one of the largest IPOs in the world happened in 2007 during the listing of the Industrial and Commercial Bank of China (ICBC). Another is the Australian All Ordinaries which is on a league of its own. It is considered to be the primary bourse of the Australian market and is usually classified together with the Asian markets due to proximity. The ASX has been known for in the past due to its mining and rubber industries. The ASX of today however is dominated mostly by food manufacturers and commercial banking while mining industries still contribute significant amounts of trade volumes. On the other hand, this paper will also look into the bonds market through the JP Morgan Global Bond Market-All Maturities which are government issued IOUs which a government usually guarantees to pay on a specified amount of time. Usually issued as 5-10 year bonds, the bonds market are resistant to bankruptcy and default since the government guarantees it in a long period of time. Cross-Market Comparisons The performance of the stock markets around the world has suffered a lot for the past two years due to the global economic crisis. Several banks and industries filed for Chapter 11 bankruptcy and sought for their governments to intervene (Selden, 2010). On Figure 1 below, the US market in general was already on a downward direction even before the worse of the global crisis. This was due to the fact that defaults on the US Housing market was heavily affecting investor sentiments and the uncertainty of the then incoming US presidential elections was leading the markets down. With the DJIA as one of the benchmark indices for other markets in Europe and Asia-Pacific, the SSE and the ASX also were on a minor down shift. This worsened when the American company Lehman Brothers which is a century-old company in the US filed for bankruptcy on September 2008 prompting panic on Wall Street and around the world. News stories of companies with large defaulting accounts sent shockwaves in other markets causing bear markets around the world as reflected on the graph. A slight recovery was seen on March of 2009 when newly sworn US President Barrack Obama agreed to bail out Wall St and provided Bailout packages to Citigroup and the US Auto Industry. On Australia, the market also reacted positively over the acquisition of BHP Billiton of Rio Tinto in late 2009 ending a series of sour negotiations in the previous year. China was also able to prove that it was resistant to the worse of the financial crisis and was still able to compensate for its 11% inflation for 2008. The local Chinese economy was also saved by the revenues from the 2008 Beijing Olympics as well as other industries who are still eager to invest in China all the more in order to reduce costs.

Criminal Justice Ethics Essay

Lon L. Fuller, former Carter Professor of Jurisprudence at Harvard Law School, observed in The Morality of Law, â€Å"Even if a man is answerable only to his conscience, he will answer more responsibly if he is compelled to articulate principles on which he acts. † To me this means that you have to answer to your own self and that you judge yourself on your thinking and possible actions. You have to weigh the outcomes and ask yourself what you can you live with doing? It’s what your moral thinking is and how it is applied. Scenario 1 – Drugs at a Friend’s House There is a moral dilemma for this situation. I am an off duty police officer and observe several other people at a friend’s party using the recreational drug, cocaine. The friend of mine is outside with others and I don’t know if she knows that illegal activities are being done in her home. I would ask myself, do I call my supervisor and make them aware even though I’m off duty? Or do I ask my friend if she knows anything about the activities being done in her home and if she does, do I call it in and make arrests for what I observed and learned or let it slide with a warning because she’s a friend? My instincts are to go question my friend. I would still call it in, but depending on whether or not she knows about the activities, would mean if I would make an arrest on her with the others or not. Cocaine is an illegal drug and I have seen what it can do to people. I might lose a friend over it, but arresting them would not only get the drugs off the street, but it will also possibly help those being caught using the substance. There are rehabilitation programs out there to help them. If I chose to let it slide, it could be a slippery slope and lead to me letting it slide more often and letting criminals and possible addicts go. It would play on my conscience to know someone actually partaking in such activities and me not try to help them recover. Yes, I might feel bad for losing a friend, but I’d rather not lose my job and put my children at risk of being homeless. I think it would be for the greater good to call it in versus letting it go. Scenario 2 – Accepting a Gift There is a moral problem in this situation. I am a community police officer and the day before Christmas, an owner of a small marker that has been sociable towards me calls me behind the counter and hands me a fruit basket for my family, and a Christmas card with $30 gift certificate. The moral question is whether or not I accept the gifts. If policy allowed gratuity for officers, I would accept the kind gesture as professional discretion. After all, the owner has participated consistently in community crime-prevention meetings. If policy didn’t allow it, I would have to decline and explain it’s against policy to do so and thank him for his gesture. I strive daily to do the right thing. If it’s against policy to accept a gift given as appreciation for my friendship and service as an officer, then sadly, I would have to decline. If I didn’t, that could lead to a slippery slope. You never know what a person does behind closed doors. He could be the prominent community member he portrays or he could be hosting illegal activities. Scenario 3 – Homosexual Partner You are a supervisor on a medium-size police department. Office Ted Jones is an excellent officer and has been on the force for 16 years. He is also a homosexual and hangs out at a known gay bar in his off time. You have two person patrols and Jones was recently teamed with Officer James Davis. Officer Davis comes to you and asks to be assigned to another partner because Jones is a homosexual. Is there a moral problem presented in the scenario? If so, what is it? I don’t believe there is a moral problem for me personally regarding this situation. I’m a supervisor of a police department. An officer approaches me to ask to be assigned to another partner because the current partner is homosexual. Personally, I don’t care about a person’s sexuality. The homosexual office, Officer Jones, is an excellent officer and has been here for 16 years. I would ask the officer requesting reassignment with a different partner, Officer Davis, whether or not Officer Jones harassed him, and if he didn’t, I would tell him deal with it. If he did, I’d pull in Officer Jones for disciplinary action. There isn’t a policy that stops a homosexual person from having a partner. It’s discriminatory. Officer Davis may hate me after that, but unless Officer Jones harasses him or assaults him, it’s out of my hands. Consciously, I’d be okay letting Jones and Davis stay partners.

Case study tale of two culture Example | Topics and Well Written Essays - 500 words

Tale of two culture - Case Study Example There are surely other factors that could account for increasing incidences of divorce, crime, drug abuse, etc. Immediately pointing the finger at globalization shows a lack of understanding of the issues involved. Globalization has given poorer countries many great things, but at the same time there have been some negative influences. I just dont think that people can pin the blame on globalization for all of these things. Because Western culture is more confrontational, the only thing that globalization has done is open peoples eyes to the fact that the social issues are occur. Previously they were just swept under the carpet and everyone would pretend that they did not exist. Globalization is a good thing because it forces people to see their society for what it really is. 3. Broadly defined, Asia comprises more than 60 percent of the worlds population—a population that practices Buddhism, Confucianism, Hinduism, Islam, and numerous other religions. Thus, do you think it is possible to carry on a valid discussion of "Asian" values? Why or why not? I think it is possible to carry on a valid discussion of "Asian" values. The reason is that culture is always changing and yet it never changes in some regards. People who view culture as something that is static are outdated because they do not realize the globalized world that we live in today. It is possible to conform to "Asian" values yet also be open to Western ideas too. In this way, a hybrid culture is almost created whereby it attempts to take the best aspects from two very different cultures and create a new culture. Indian call center workers might have to change their lives drastically, such as speaking with an American accent, wearing American clothes, and dating boyfriends, but the fact remains that they are still Indian despite all of this. It is possible to "have a hand" in both

Articls Essay Example | Topics and Well Written Essays - 250 words

Articls - Essay Example The expectancy levels have also been questioned on their validity on assessing the quality of healthcare. The piece wraps up by arguing that it is not warranted to argue that the US healthcare system is not quality (Docteur & Berenson, 10). Dickson’s article indicates that the Medicare Payment Advisory Commission’s move to ensure that the congress narrows the variations in the payments made to the service providers in relation to the services provided (Dickson 1). MedPAC also advocated that the cover also caters for hospice services for its clients. If these recommendations were to be adhered to Dickson argues that the expenses incurred by Medicare would indeed reduce, and the services offered to the clients would improve to a great extent (1). Dent’s article indicates that cultural competency has been defined in various contexts (1). The article emphasizes that quality healthcare cannot be alienated from cultural competency. When the heath service providers are able to relate to the cultural background of their patients, quality service can be achieved (Dent 1). The policies made in regard to healthcare must relate to cross-cultural contexts. Dent, Lowanda. â€Å"The Role of Cultural Competency in Eliminating Health Disparities†. Minority Nurse, MN 2005 Winter. Web. 23 Mar. 2014. http://www.minoritynurse.com/article/role-cultural-competency-eliminating-health-disparities Docteur, Elizabeth & Berenson, Robert A. How Does the Quality of U.S. Health Care Compare Internationally? Timely Analysis of Immediate Health Policy Issues August 2009. Web. 23 Mar. 2014.

Memo on Earthquake Essay Example | Topics and Well Written Essays - 750 words

Memo on Earthquake - Essay Example Option #1 is to report it as an extraordinary loss separate from operations. And Option #2 is to report the loss in a continuing operation but treat it as a separate part in the income statement. These two options would require proper disclosure in our footnotes of the event. The reporting of extraordinary items (losses) has an advantage, that is, they are not included under normal operating income which will be construed by stakeholders and creditors as items that will not happen in the foreseeable future. Hence, the event’s effects on net income are not in any way reflects the true status of the business operation since it is not a recurring event. According to Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 225-20-45-2 â€Å"extraordinary items are events and transactions that are distinguished by their unusual and by infrequency of their occurrence. Thus, both of the following criteria should be met to classify an event or transaction a s an extraordinary item†. CHHS has to decide whether the earthquake meets both criteria. Per FASB ASC 225-20-55-2 â€Å"An event or transaction of a type that occurs frequently in the environment in which the entity operates cannot, by definition, be considered as extraordinary, regardless of its financial effect.† On the other hand per FASB ASC 225-20-55-1 stated that â€Å"unusual nature is not established by the fact that an event or transaction is beyond the control of management†. Statistics gathered from Northern California Earthquake Data Center (NCEDC) showed that since 1969, there were about 99 earthquakes that shook the Bay Area with magnitudes of 5 or greater but only 3 have so far been recorded more than 6.7. With these statistics, it may be difficult to validate that earthquakes are infrequent and of a kind that would not be projected to happen in the foreseeable future. Should we were to report the damage as an extraordinary item; it will appear und er continuing operations as the net-of-tax of $16.5 million. Per FASB ASC 225-20-50-3 states that â€Å"The nature and financial effects of each event or transaction that is unusual in nature or occurs infrequently, but not both, shall be disclosed on the face of the income statement or, alternatively, in notes to the financial statements.† We can use this statement as our basis â€Å"to report losses under continuing operations but as separate component† according to Accounting Principles Board (APB) Opinion 30 paragraph 26. Under this reporting method, stakeholders and creditors are prone to analyze that there is still a risk that an earthquake will happen again, but the chance is little. Should we report the damage under this option, we would include the full $27.5 million loss as a separate component in continuing operations. Stakeholders and creditors rely on the income statement very much, their decision is dependent on the report we will submit. I am therefore r ecommending Option #2, that is, to report the earthquake damages under continuing operations but as a separate income statement component. Our stores are conspicuously located in the Pacific Ring of Fire, an earthquake-prone area, thus should not be included as extraordinary items. By reporting the earthquake damages as a separate component under continuing operations, we will be following the guidelines prescribed by FASB

Case study analysis Essay Example | Topics and Well Written Essays - 1000 words - 2

Case study analysis - Essay Example As Shaw (2010) notes, the verdict of the Supreme Court in June 2012, that declared the Obamacare as constitutional,  supports the ethical principle of justice approach health care, and provides the roadmap for states, insurance companies, employers, and beneficiaries to effective implementation of the plan. The piecemeal implementation of Act is expected to climax in 2014, when major changes will take effect. Provisions in the legislation are intended to have more people under insurance cover, trim soaring medical costs, and prevent illnesses among vulnerable populations (Almgren, 2012). The Act targets adults aged between 19 and 64, since health care has been beyond their reach since the 21st Century began. Those who do not have insurance cover are given priority of health care under the law. Some of the major reforms in Obamacare include; pushing insurers to cover persons with pre-existing health conditions, lowering the bar for Medicaid applicants and beneficiaries, standardizin g insurance premiums, and giving business organizations incentives to provide medical cover for their employees (Almgren, 2012). The Act’s utilitarian spirit means insurers will have to absorb as many people as possible when major provisions of the Act become effective in 2014. The legislation is expected to better health services across all societal segments at affordable cost. The program is expected to boost life expectancy among American citizens by saving thousands from treatable illnesses. This is evident in the outcomes a recent research in the Act has been reputed for saving the lives of more than 5% of Americans in three states that extended affordable medical to low-income earners (Almgren, 2012). The end result was one adult life saved for every 176 people insured under the reformed Medicaid (Almgren, 2012). Conversely, despite these positive outcomes envisaged in the Act and the vote of confidence by the Supreme Court, some still feel that the pitfalls in Obamacar e outweigh the benefits. For example, allowing people with pre-existing conditions to benefit from insurance cover contravenes fairness to insurers, since they will have no option but to spend more in care provision than is reasonable and some may collapse. Impacts of Obamacare on society As Shaw (2010) has suggested, American citizens are in consensus on the four important goals that the health care system should achieve. Firstly, there is a need to access high quality services that can keep the highest number of Americans healthy in the long-term. Secondly, an effective health care law should be one that allows Americans to exercise their freedom to choose the right health care for them; when to adopt a particular care, and where to get services from. Thirdly, Americans expect a favorable health care system that a majority can afford. Lastly, there is need to share medical costs and gains of health care fairly. Despite the consensus, it beats logic to be divided in thought on Obam acare. Perhaps the point of departure on health care is that priorities of care vary across people, groups and business organizations. Social injustice and fairness should therefore be the guiding principle in the system, since the values advocate for the treatment of all parties with fairness, more so when the health care plan brings together the rich and poor, for-profit organizations and non-profit organizati

Cross cultural management Essay Example | Topics and Well Written Essays - 1750 words - 1

Cross cultural management - Essay Example Australian government has provided huge assistance in helping those migrated Sudanese to settle in Australia. Sudan was considered to be the top sourced country for the Humanitarian Migration Program. A large number of Sudanese are now staying in Australia as indicated by the Census 2006. The record shows that in Victoria 6205 Sudanese were born which was 32.2% of the total Sudanese population staying in Australia (MIGRANT INFORMATION CENTRE, 2012). This suggests that more and more Sudanese population were joining the education and workforce in Australia. Living The first and foremost problem that the Sudanese faced was socialization. Socialization requires adaptation of the family members to the legal, cultural and social structure of Australia. There were many cultural gaps identified between Australian community and the Sudanese that included understanding the cultural context. Another problem was difficulty in speaking English. The people coming from Sudan were originally from di verse ethnicities and spoke different language. According to Census data of 2006, 25.1% of the Sudanese people spoke Dinka, 46.6% spoke Arabic and 9.1% spoke Neur (MIGRANT INFORMATION CENTRE, 2012). Hence these three languages are recognized to be most important. It is very confronting and difficult to stay in a new country, learn their language, adopt to their culture and at the same time feel not respected and accepted by the society (Licina and Dharmalingam, n.d.). Working Employment becomes the most vital part of an individual life. To sustain its livelihood it becomes important for an individual to fetch employment. This was a huge problem for Sudanese. This would also provide them with the ability to settle more aptly and nicely in the new environment. Employment also leads to many psychological effects on an individual. Getting employed not only provides a stable income but also removes the anxiety of financial problems and feels getting respected and accepted in the society (DIAC, 2012). By getting employed they would also gain gradual understanding regarding the culture and system of the new place. But the Sudanese had been struggling hard for the employment. Difficulty in gaining employment was mainly due to the racial discrimination and lack of skill and experience. English speaking problem was also a major reason for their unemployment. Studying Education is another important aspect from which the Sudanese were deprived of. However since they were not well acquainted with the English language and did not have adequate educational background from their previous country so they faced difficulty in understanding the education system of Australia. AMEP provides a free training on English of 510 hours to the new arrival, who arrived as refugees. But this was considered as an unrealistic educational support. The Sudanese never used the language English earlier, in such a situation it was difficult for them to learn a foreign language which they have neve r used. Moreover learning is a process that individual need separate time to adopt; so this measure was of no help to them. Thus this problem still remains there. Moreover the quality of school education available at Sudan is quite poor. Leaving some of the vocational training the opportunity of education in Sudan is quite limited (Commonwealth of Australia, 2007). Discussion There were several issues that made the livelihood