Orientation to Counseling Theory

Having extensively learnt about counseling theories, I have already decided on the theory that would fit my desired line of work. My desire is to work with the chemically dependent because I believe that there is hope for them and that through cognitive behavior therapy it is possible to help them stop their unhealthy way of life. I know I will be met with client resistance and that cognitive behavioral theory has its own limitations but I will handle these. The most important thing is that I will try to use this theory to help the chemically dependent. Cognitive behavioral theory proposes that cognition is important for behavior change.According to the theory, the thoughts an individual has affects their behaviors and if an individual has negative thoughts, it would be very difficult for the individual to positively change their behavior (Perkinson, 2002). In counseling, this theory is applied to help clients through cognitive behavior interventions where both behavior and cognitive strategies are employed to help solve their psychological and behavioral problems (Perkinson, 2002). The theory explains that by altering an individual’s thinking processes, an individual can clearly think about the choices that they make as well as the behaviors they engage in.The theory views behaviors such as chemical dependence as learned behaviors which are acquired through life experiences (Perkinson, 2002). The cognitive behavioral theory is a combination of two theories which are the behavioral theory and the cognitive theory. This theory fits both my personal beliefs and my value system. Personally I strongly believe in guarding what I let dominate my mind. I believe that if I let my mind dwell on negative aspects of life, my behavior will follow suit. I also believe that if I find myself having negative thoughts, the ability to alter my thinking and start thinking positively is in my hands.I also do not see substance abuse as having any positive effect whether on a person or on the society. In fact, to me substance dependence is a major source of problems in the society one of which is marriage breakups. This theory fits these beliefs and values in that the theory explains that by altering the thinking processes one can alter their behavior. This theory fits the chemically dependent perfectly. This is because in counseling them my main objective would be to change their behavior. To change their behavior I would need to help them recognize that they have a problem and then work towards changing their behavior.Chemical dependence is a learned behavior that is usually acquired following continued use of a given substance (Kadden, 2002). In most cases these substances are used to achieve certain results in the absence of other means. For example having realized that alcohol enables one to temporarily forget their problems, one would repeatedly drink in an attempt to forget his or her problems and at long last the individual would become addicted . Using this theory it is possible to help the addicted individuals learn about the triggers of their behavior which could be either the environment or certain people (Kadden, 2002).The individuals can then be helped to respond differently to these triggers using healthy means. This way the addicted individuals would stop being chemically dependent by changing their way of thinking and thus the way they respond to the triggers. To help my clients I would have to formulate treatment goals. To help my clients using the cognitive behavioral theory, together with the client we would try to identify the particular needs that the substances are being used to meet (Kadden, 2002). This would be one of my goals.To do this I would talk with the client and ask them several questions such as when they are most likely to drink in order to find the trigger. After identifying the trigger, as a counselor my second treatment goal would be to help the client develop skills that would provide the clie nt with alternative ways of meeting the needs that the substance is being used to meet (Kadden, 2002). This way I would help the client to change their behavior and thus stop being dependent on drugs. In order to achieve positive results using the cognitive behavioral theory, both the client and I as a counselor have roles to play.To begin with, the client must be willing to change his or her negative thoughts and replace them with positive thoughts-the client needs to actively participate in the therapy. The client has the responsibility of providing as much information as possible to me as a counselor, this way I would know which is the best therapeutic approach to the client’s problem. As a counselor my work is to listen to the client carefully and prod for questions to gather as much information as I can to be in a position to help the client. Another role is to provide coping-skills training to the client to enable the client respond alternatively to triggers.I also shou ld encourage the client. Resistance from clients cannot be ignored. I understand that the clients will not happily play their role and that they may find it difficult to expose themselves to me. However, I will try to deal with this resistance in a way that is consistent with cognitive behavioral theory. As a counselor I will need to know what the client hoped to gain from substance abuse in different circumstances and I expect some of the clients to be hesitant. This could be due to embarrassment such as when use of substance is the only way a client can feel comfortable in social situations.As a counselor I would handle this resistance with understanding and assure the client that what they were trying to get from substance abuse is not unreasonable. I would explain to the client that the desire to blend during social occasions is common to many people. This way I would have helped the client in cognition. In dealing with chemically dependent individuals using cognitive behavioral theory I would apply several therapeutic techniques. One of this is the coping skills training method. I would choose this method depending on the information given to me by the client.Using this method I would help the client choose or develop an alternative healthy way of meeting a need as an alternative to taking the addictive substances (Kadden, 2002). This is because development of coping skills is a major step towards recovery from chemical dependence. Another therapeutic method that I would apply would be the relapse prevention technique. I would choose this method depending on whether a client is at high risk of relapse. Using this method I would help the client stop being dependent on chemicals by helping them avoid high risk situations (Kadden, 2002).Cognitive behavioral theory though good for helping the chemically dependent, it has its own limitations. One of these is that it does not fit everyone which means that not everyone will get off drugs following treatment usin g cognitive behavioral therapy (Perkinson, 2002). This also applies to other populations and not only to the chemically dependent. Another thing is that it calls for active participation from the client and in case the client is not active, the therapy may be ineffective. Active participation comes in the form of assignments which can be very challenging (Perkinson, 2002).Another limitation is that the method uses a confrontational approach where clients are supposed to face their shortcomings head on (Perkinson, 2002). Many clients may find this very uncomfortable and this may lead to resistance. Another thing is that since the work of counselors in cognitive behavioral therapy is to make the clients face their faulty beliefs, there is risk of therapists misusing their position to push clients to adopt the therapist’s beliefs which would compromise the neutrality of therapy (Perkinson, 2002).Cognitive behavioral theory as an approach to helping the chemically dependent limit s the clients I can deal with as well as the kind of settings I can encounter. This is despite the fact that the approach is very successful both with adult and adolescent clients and can be used in a wide variety of settings which range from inpatient to outpatient settings (Wanberg & Milkman, 1998). Groups of clients to whom my expertise as a cognitive behavior therapist would be limited include the clients with DSM-IV personality disorders and clients who are medically unstable (Wanberg & Milkman, 1998).In addition, I cannot work with unmotivated clients since they would not actively participate in the therapy and this would make the therapy unsuccessful (Wanberg & Milkman, 1998). Other forms of challenges are related to limited time and costs. Due to cost containment, some of the clients are usually unable to complete their sessions as some of the managed care organizations are unwilling to cover all the required sessions (Kadden, 2002).The recommended sessions for one who is un dergoing cognitive behavior therapy are 24 sessions but most of the managed care organizations are only willing to cover 6 sessions (Kadden, 2002). This leaves the clients afraid that they have not had enough treatment and this poses a challenge to the therapist who should work towards boosting the client’s confidence by assuring the client that they can overcome their addiction by employing the skills already learnt (Kadden, 2002). Following my extensive research and study on the cognitive behavioral theory, I have learnt a lot.To begin with I have learnt that this therapeutic approach cannot be used on all the clients who are chemically dependent. I have learnt that there are groups of clients to whom this therapy has limited effectiveness. I have also learnt that I would need additional training if I were to change people’s lives by practicing this theory. The most relevant course that I would wish to pursue would be a course in substance abuse counseling. By doing such a course, I would gain in-depth knowledge on the issue of drug abuse and how to help the addicts.References Kadden, R. M. (2002). Cognitive-behavior therapy for substance dependence: Coping skills training. Retrieved 19 August, 2010 from http://www. bhrm. org/guidelines/CBT-Kadden. pdf Perkinson, R. R. (2002). Chemical dependency counseling: A practical guide. California: Sage Publications. Wanberg, K. W. & Milkman, H. B. (1998). Criminal conduct and substance abuse treatment: Strategies for self-improvement and change; a provider’s guide. California: Sage Publications.

Immune System and Blood Platelets A.

Which of the following are concerned with the prevention of bacterial Infections In different parts of the human body? Alimentary canal Respiratory tract Blood A. Digestive enzymes hair white blood cells B. Mucus cilia red blood cells acid blood platelets D. Bile salts Directions: Questions 48 and 49 refer to the graph below which shows the changes In the concentration of antibodies In the blood of a person with time: 48. The increase in the antibody concentration on day 7 might be caused by A. Excessive bleeding B. The entry of bacteria C. Recovery from a disease D. The intake of a large amount of antibiotics 49. The antibody concentration increased rapidly on day 21 because the person A. Developed a fever. B. Received a vaccination. C. Was Infected by the same type of antigen. D. Produced a large number of phagocytes. 32. Which of the following components of the blood can destroy bacteria that have entered the body? (1) antibodies (2) phagocytes (3) blood platelets A. (1) and (2) o nly B. (1) and (3) only C. (2) and (3) onlyD. (2) and (3) 46. Which of the following are examples of artificial immunity? (1) Injection of vaccine into the body (2) Injection of antibodies into the body (3) Injection of antibiotics into the body A. (1) only B. (1) and (2) only 34. In the alimentary canal, bacteria in food are mainly killed by A. Saliva. B. Mucus. C. Gastric Juice D. Pancreatic Juice Directions: Questions 49 and 50 refer to the graphs below, which show the changes in the antibody level in the blood as a result of two methods of inducing immunity in humans: 49.Substance P can be (1) bacteria. (2) antigens. (3) antibodies. B. (3) only C. (1) and (2) only D. (2) and (3) only 50. What is the advantage of method 2 over method 1 in inducing immunity? A. The B. The immunity can develop faster. C. It can stimulate the white blood cells to produce more antibodies. D. The body can become immune against a wider range of diseases. 01 18. Which of the following statements about a ntibodies is correct? A. They act on specific antigens. B. They are produced by phagocytes. C. They develop a memory for antigensD. They can replicate rapidly during infection. 60. Which of the following structures produce secretions that can protect the body from infection? (1) skin (2) stomach (3) trachea 02 42. A person was infected by the same kind of pathogen twice within a month. Assuming the quantity of pathogen for both infections was the same, which of the following graphs correctly shows the change in the pathogen level in the person's blood?

Belgacom Case Study

Belgacom Case Question 1 a) Why did the share price of Belgacom increase following the announcement of the acquisition? b) Why did the ratings of Belgacom drop (S&P) or put on negative watch (Moody’s)? a) As Belgacom secured the purchase of the remaining 25% share of Proximus it did not own yet, the share price of the Belgian company increased by 0. 92 % the same day and 9. 8% over the following month. An announcement can lead to pre-event abnormal returns as markets react to this information to get a premium.Investors will try to assess the increase in expected earnings and dividends. The impact of this assessment will depend on how the merger is done, how the transaction is paid, the sector it concerns, etc. However, according to market efficiency theories, overreaction on stock prices tend to disappear in the long-run and the price reflects the present value of expected returns. (FAMA, 1998) That being said, several reasons may explain this jump.First, we can underline the fact that this operation enables Belgacom to collect all the benefits of Proximus. Before the purchase, 25% of the earnings of Proximus were placed in minority interests, these were payable to Vodafone. After the operation, Belgacom owns 100% of the shares and can enter all the cash of its subsidiary in its accounts. It represents an increase of the future cash flow not only for the firm but also for its current shareholders, which will be comforted to receive more in the future or that their shares represent more cash.This is due to the decision of Belgacom to finance its acquisition by debt which doesn’t give ownership rights to the bond owners. Fig. 1: Evolution of Belgacom Share Price (2005-2008) Second, Belgacom was familiar with Proximus business as Belgacom (75%) founded the company with Airtouch (25%) in 1994, creating by this way the first mobile phone operator in Belgium. b) Unlike the market, rating agencies did not welcome positively this transaction: Moodyâ€℠¢s changed its outlook to negative and Standard&Poors downgraded Belgacom rating to A from A+. Moody’s xplained that it keeps Belgacom’s rating unchanged because according its methodology designed for GRI (Government-Related Issues), there is no change in Belgacom solvability. Moody’s GRI methodology use three inputs: the rating and the outlook of Belgium, the low level of default dependence and the medium level of support from the Belgian government. While there is no change in those inputs, there should be no change in Belgacom rating. That being said, several indicators lead the agency to wonder about the ability of the Belgian company to deal with its creditors.First, Belgacom announced a bunch of outflows for the months to come: just at the same time, Belgacom decided to sell its 5,8% stake in Neuf Cegestel to SFR: the outcome of the operation was EUR 187 million plus a share buyback (maximum 200 million) and a dividend in 2006 for EUR 100 million. Futhermo re, Belgacom decision to use its current financial stability and therefore weaken its debt ratios. As for Standard&Poors, the agency decided to downgrade the rating of the Belgian firm from A+ to A.S&P said this decision lies on the fact that the Belgacom debt will rise of about EUR 2 billion, making notably increase the debt/Ebitda ratio from 0,8 to 1,9. Moreover, its business in a competitive and liberalized market, as well as the decline of fixed lines market make fear for future results of the company. However, the outlook remains stable, that can be explained by the strong position of the company on the Belgian telecom market and its huge ability to generate cash. Question 2 a) Why was the acquisition financed by a bridge loan? ) What were the alternative financing sources? a) Bridge loans are short-term financial instruments usually used to lock-in a settled price( (frequent in Real Estate Market). This practice buys time for the deal maker to sort things out and to better str ucture its financing scheme. This seems to be the main rationale for Belgacom in this case. The management wanted to lock-in the price agreed on with Vodafone and as the deal was subordinated to the Belgian Authorities approval, it was more cautious to make it happen right away.Yet there is another way to see a bridge loan as a temporary expensive loan serving the purpose of being an intermediate financing mean for the company that benefits from it (Fabozzi, 1991). Later on, this bridge loan is reimbursed with more advantageous types of loans. was in fact a syndicated loan underwritten in order to finance an acquisition. As a matter of facts, the loan was made by several lending institutions called the mandated lead arrangers i. In the case of Belgacom, the company took a bridge loan for several reasons that are detailed below.The bridge loan e. BNP Paribas, Citi, Fortis, ING and JP Morgan. For the investment banks that underwrite the syndicated loan, the main interest resides in th e fact that they gain a fee. In this specific case, the bridge loan was arranged as a revolving credit instrument type. This meant Belgacom had to pay a fee plus interest expenses and can draw-repay-redraw as many times as needed. As said before, a first valid reason would be that the cash was needed quickly (maybe) and bridge loans are arranged more quickly.In any case it is in the best interest of the company (Belgacom here) to reimburse the bridge loan as quickly as possible because it is very expensive and the interest rate generally increases with the maturity. Moreover issuing corporate bonds takes time. In fact, there are four main steps to issue a bond in the bond market. First, there is the pre-mandate phase which aims to determine the funding needs or whether it is the right time to tap the bond market. Additionally, the currency has to be determined, the market as well plus the targeted investors.After that, comes the book building process which is one of the most importa nt tasks that consists of taking the orders from the investors. Then, a range for the coupon rate has to be determined and the amounts have to be allocated to the investors. Those steps could typically take weeks. Helping companies with short term funding is thus a major need for the client. Another reason may be that it gives Belgacom time to wait for more favourable economic conditions for issuing the bonds. Depending on investor’s appetite, timing is in fact crucial in such deals.Now, from the investment bank’s perspective, there is possibly a conflict of interest as the investment bank is at the same time creditor (through the bridge loan) and the entity that prices the securities that will be used to reimburse this loan. One could argue the investment bank could lack objectivity (Glazer, 1989). However, this constitutes an additional incentive for the book runners to successfully carry the deal to its end. Additionally, four of the five banks that granted the brid ge loan became the joint book runners. To that extent, there are clearly business interests which are involved.This can be interesting for the investment bank in order to get closer to the client. Moreover, this form of short term financing is more expensive for the company because it bears higher risks. Alternatively, it means that it is more lucrative for the investment bank as well. To sum up, bridge loans seem to be a lucrative source of profits for investment banks. First, they place themselves in a comfortable position to issue bonds for the company later on. Second, they can diversify their revenues and be a good candidate for the bond issuance.As a matter of facts, four of the five banks providing the bridge loan took care of bond issuance. b) Alternatives to bridge loans were traditionally letters of comfort written by the investment bank stating that the bank was ‘highly confident’ that the additional financing needed by the company could be obtained. This imp lies no bridge funding at all. Hence the alternative would be to wait for the bonds to be issued. The risk here however would consist of being too late for acquiring the target. Another alternative would be to use your own capital to fund the acquisition in the short run.This depends, of course, on the ability of Belgacom to generate such a large amount of cash. Yet another option would have been to raise more capital by issuing shares with the agreement of its existing shareholders. However, this option could have been detrimental to existing shareholders: the Belgian state which had a major stake in Belgacom with 50. 1% of the shares. Here is a summary of all the plausible alternatives: * Pay with retained cash: Belgacom could put 2Bnâ‚ ¬ on the table for Vodafone’s stake (assuming that the amount was available at the time).Although, this is known as the worst case scenario for current shareholders. Putting the cash in an acquisition would also have constrained Belgacom to lower (even cancel) its expansion investments. * Go straight to the Market: Belgacom could issue the bonds without taking the bridge loan but since the company had no prior bonds outstanding in the secondary market, the pricing would have been necessary anyway and it takes time and money to process it. The risk in that case is the agreement with Vodafone; other players could profit from the info and buy the stake in order to sell it back to Belgacom at a premium.Question 3 Assuming the 5-year swap rate was 3. 922% and the 10-year swap rate was 3. 977% at the time of pricing the deal (primary market), could you calculate: a) The yield for investors The yield is composed of the risk-free interest rate and the risk premium. The risk-free rate is usually defined as the rate of a government bond or the interbank rates (ex: Euribor) for the same maturity. However, the swap rate is used for maturities beyond 12 months. Here, the explanatory statement assumes that the 5-year and the 10-y ear swap rate were respectively 3,922% and 3,977%.The credit spread or risk premium depends on the maturity and the quality of the issuer. After comparing the coupon offered by companies with the same risk profile from the telecom peer group in the secondary market, the explanatory note explains banks’ position which suggested to issue the 5Y bond and the 10 Y bond with a spread guidance of respectively 30-35 bp and 60-65 bp. Bonds 5 and 10 years| Years to| 2006| | | Maturity| 5 years| 10 years| | | Swap Rate (rf)| 3,92%| 3,98%| | | | Min| Max| Min| Max| | | Risk Premium| 0,30%| 0,35%| 0,60%| 0,65%| | |Face Value| â‚ ¬ -100,00| â‚ ¬ -100,00| â‚ ¬ -100,00| â‚ ¬ -100,00| | | Yield to Maturity| 4,222%| 4,272%| 4,577%| 4,627%| | | Coupon Rate| 4,125%| 4,250%| 4,500%| 4,625%| | | Price â‚ ¬| â‚ ¬ 99,57| â‚ ¬ 99,90| â‚ ¬ 99,39| â‚ ¬ 99,98| | | Price %| 99,57%| 99,90%| 99,39%| 99,98%| | | Fees| 0,15%| 0,15%| 0,25%| 0,25%| | | Proceeds| 99,42%| 99,75%| 99,1 4%| 99,73%| | | Cost %| 4,256%| 4,306%| 4,609%| 4,659%| | | Table 1: Results for the Bond Issuance Thus, the yield for investors should be the sum of the risk-free and the risk premium rate: * Min. 4,222% and max. 4,272% for the 5-year bond * Min. 4,577% and max. 4,627% for the 10-year bond ) The coupon rate The coupon rate is the amount of interest payable on the bond. It is important to keep in mind that the market practices want the yield to vary by steps of 0,125%. Therefore, according to table 1, the yield for the investor varies between 4,125 and 4,250 for a 5-year maturity bond and 4,5% and 4,625% for a 10-year maturity bond. c) The issue price The issue price is the price at which investors buy the bonds in the primary market. The bond issue price is the present value of the bond’s cash flow. To obtain this price, we have to use the coupon rate, the face value and the yield for investor as described in this formula:Issue Price = Coupon 1(1+y)+ Coupon 2(1+y)? +†¦ +Coupon n1+yn+ Face value1+yn At issuance, the subscriber will pay: * Min. 99,57%, Max 99,90% for a maturity of 5-year * Min. 99,39%, Max 99,98% for a maturity of 10-year d) The cost for Belgacom The cost to maturity for the issuer y is defined as: Issue Price – Fees of the bookrunners = Coupon 1(1+y)+ Coupon 2(1+y)? +†¦ +Coupon n1+yn+ Face value1+yn The rate y solving (cost to maturity) this equation is: * Min. 4,256%, Max 4,306% for a maturity of 5-year * Min. 4,609%, Max 4,659% for a maturity of 10-year e) Cash Flows Here are the cash flows for the issuer. For a maturity of 5 years: At inception (time 0), the issuer receives (99,57%-0,15%)=99,42% multiplied by the total face value. Every year for 5 years, the issuer pays the coupons of 4,125% * face value of the bonds At maturity, the issuer has to repay the whole face value plus the last coupon. | | | | | | | | | | | | Cash Flows as % of Face Value| 5y-Bond| 0| 1| 2| 3| 4| 5| | | | | | Bottom| 99,42| -4,125| -4,125| -4,125| -4,125| -104,125| | | | | | Up| 99,75| -4,25| -4,25| -4,25| -4,25| -104,25| | | | | | | | | | | | | | | | | | 10y-Bond| 0| 1| 2| 3| 4| 5| 6| 7| 8| 9| 10|Bottom| 99,14| -4,50| -4,50| -4,50| -4,50| -4,50| -4,50| -4,50| -4,50| -4,50| -104,50| Up| 99,73| -4,63| -4,63| -4,63| -4,63| -4,63| -4,63| -4,63| -4,63| -4,63| -104,63| | | | | | | | | | | | | Question 4 Consider an outstanding corporate bond in the secondary market (issued a few months ago). All else being equal, the market suddenly perceives a more important credit risk associated with the considered issuer. What impact should it have on: a) The credit spread The credit risk is the risk that the issuer may default and not pay back the full amount he owes to bondholders (the total face value of the bonds).The credit spread translates the uncertainty about potential future stock price movements†. (Berk, 2011) If the market suddenly perceives more important credit risk associated with the issuer, the credit spread will widen as the market is perceived has being relatively safer. The payoff associated to extra credit risk is a higher yield. Therefore, the credit spread represents a bonus for investors when supporting extra risks. Fig 2: Yield curves Source: CFA b) The yield There are two components in the yield: the risk free rate and the credit spread. All else being equal, if the credit spread widens, the yield increases. ) The price Investors want to pay less for a risky bond having the same pay-offs as a risk-free bond. By taking more risk, the final amount the investor expects to receive may be less than what he will get as there is a credit default risk. (Berk et al. , 2011) The variable on which the market has a direct influence on in order to adjust for a higher yield is the market price. Due to the negative relation between the yield and the price and if the coupon payments and the principal repayment remain unchanged, the price must decrease in order to translate the surge in the yield.T his is particularly relevant when the issuer is the target of a leveraged buyout, which, in most cases, is leveraged by the issuance of new bonds. The increased debt used in order to make such financial actions often decrease the totality of the bonds of the issuer to a status of  «Ã‚  junk bonds  Ã‚ ». Question 5 How would you assess Belgacom’s position with regard to the qualitative factors enumerated to assess the pricing ? * Issue premia for recent transaction First of all, this is the first bond offering issued by Belgacom.Therefore, it cannot be referred to a previous premium offered in its own recent transactions. Therefore, the reference will be the telecom peer group having the same risk profile. * After market performance of recently launched deals The issue premia have widened for two main reasons. First, a trend towards more acquisition in the Telecom sector since 2005. Second, the Telecom sector suffers from the fact its services are more and more commoditize d which in turn may hurt the profitability of a Telecom company. At the time it was expected the bond could be split in three types.A floating rate note and two fixed rate notes. It was expected the 3-year FRN had a spread of 15bp to 20bp whereas the fixed 5-year note would have a 30bp to 35bp spread. Finally the 10-year note would have had a spread of 60bp to 65bp. With regards to recent transactions, Deutsche Telekom was offered a spread of 20bp for a 3-year floating note. 15-20bp is thus potentially better for Belgacom. As far as the fixed notes are concerned, Belgacom seems to benefit for a slightly better spread for 10-year notes but not for the 5-year ones as the one of Deutsche Telekom was only of 17bp in April 2006. Date| Swap 5-y| Swap 10-y| Coupon| Spread(bp)| Currency| Amount| Deutsche T| April 2006| 3. 83%| | 4%| 17| EUR| 750m| Deutsche T| May 2006| | 4. 13%| 4. 75%| 62| EUR| 500m| Telefonica| Feb 2006| 3. 42%| | 3. 75%| 33| EUR| 2250m| Telefonica| Feb 2006| | 3. 68%| 4. 37%| 69| EUR| 1750m| Vodafone| Jun 2006| | 4. 07%| 4. 75%| 68| EUR| 300m| * Are investors liquid? (hedge funds) However, according to the case, investor’s appetite remained high at that time. In fact, bond issuances remained low because corporates generated increasingly more cash flows and made use of cheaper ways of funding. Market sentiment? (world, Belgium, politics) There has been a lot of deleveraging followed by acquisitions in the past years. Moody’s says the economy of Belgium is only weakly correlated with Belgacom’s credit quality. However, for companies that are partly owned by the state, the credit quality of the Sovereign may play a greater role. At that time however, there was no political complications in Belgium yet. In 2006, the subprime crisis had not begun yet either. Hence one could argue the political setting was relatively clear.Moreover, there were strong liberalization policies pushed by the EC and investors were afraid that the Belgian state would disinvest in Belgacom after the following elections. The Belgian state had already to divest, keeping 50,1% of the share. Therefore, investors wanted an insurance against a change of control in case the Belgian State sold his participations but also to cover the risk against an LBO. As Belgacom could not introduce a step-up language, it could have had an impact on the credit spread by increasing it. * Credit Spread volatility Credit spread rose significantly more for telecom companies in 2005-2006.This was due to the fact the telecom companies ventured more in acquisition activities during that period. 5-year and 10-year credit spread for A-rated telecom companies respectively rose 10bp and 20bp during that period. * Saturation effect in investors portfolio? Are investors sick of telecom bond issuances? In principle, investors were not sick of telecom bond issuances as the one of Belgacom would add diversification to their portfolio. What is more, Belgacom was seen as a safe and relatively liquid company as they were previously weakly leveraged. * Amount raised in the pastAs far as Belgacom is concerned, the company has never issued any bond. Hence this was a premiere for the company. If we look at the issue amount of comparable transactions in the peer group of the same year, telecom issuers have issued in 2006 from three to 5 times with an issue amount from 500 million. For example, Telefonica issued in 2006 a total of 11. 750 million â‚ ¬ * Credit quality of issuer and peers In terms of credit quality, Belgacom is better than most competitors. This is mostly due to the fact that Belgacom was weakly leveraged before the issuance.For instance, EBITDA/Interest expenses of France Telecom, Telecom Italia and KPN was between 2. 4x and 7. 2% while Belgacom’s was 93x. However, Belgacom wasn’t the best according to credit rating agencies. The considered peer group is made of France Telecom, Telecom Italia, KPN and Belgacom. Moreover, Moo dy’s seems to give to Belgacom a better rating that Fitch. Therefore, we may suppose that Belgacom’s cost of issuance may be slightly lower than those of his peer group. Question 6 What is a change of control put provision? How would it have protected investors?Why did some investors think the step-up language would not be useful? Looking at the step-up language, what would be the coupon rate if the rating of Belgacom was downgraded a) to BBB- (S&P)/Ba1 (Moody's)? b) to BB+ (S;P)/Ba1 (Moody's)? A change of control put provision is an option given to the bondholder to get its bond repaid before maturity at par or above, in the event of change of control followed by a rating downgrade (e. g. after an LBO). Companies may be reluctant to issue bonds including this clause, because it can place more constraints on their finances as investors have the power to control repayments.Besides, it protects investors so they can have the opportunity to change their investment decisio n strategy if the issuer would happen to change its ownership. In case of a LBO, for example, the ownership of the company is transferred by using debt relying on the future cash flows of the company. According to (Rosenbaum et al. , 2007), â€Å"a target only represents an attractive LBO opportunity if it can be purchased at a price and utilizing a financing structure that provides sufficient returns with a viable exit strategy. In such a case, a former bondholder would see the credit risk he faces considerably increase, given the amount of additional debt supported by the company. This clause should then enable a bond investor to exit his position without bearing that increased risk because firstly, the change of control was likely, since the Belgian government was seeking to sell its stake in Belgacom and secondly because some argued that the inclusion of a step-up language taking the form of a +50bp in interest payment per downgrade below investment grade would be far from comp ensating the additional risk they would be bearing.In the case of Belgacom, there were some concerns about this possible withdrawal of Belgian state from its majority stake, intensified by the fact that the company could also be the target of a potential LBO operation as explained above. In order to reassure prospective investors and consequently lower interest rates for long term bonds (10 years), it has been considered to include such a clause in the deal. Therefore, Belgacom finally decided to add a step-up language despite the concerns emitted by some investors.The main benefit of the step-up language is that investors will usually get the initial coupon above the market and will also know what is to expect from their bond(s) over a longer-term period. However, bonds including a step-up language present the disadvantage of being callable by the issuer in order to issue it at lower rate to reduce their cost of borrowing which is the reason why some investors were reluctant concer ning the step-up. In the case of Belgacom, a downgrade in the rating would have had the following impact on the coupon rate: ) If the rating of Belgacom would have been downgraded to BBB- (S&P) / Ba1 (Moody's) and if the lowest rating is taken into account which is Ba1 (one grade below investment grade), the interest paid (coupon rate) would have increased by +50bp. b) In this scenario, both rating agencies consider a one notch downgrade below investment grade leading therefore to a +50bp increase in the interest rate paid. Bibliography BERK J. , DeMARZO P. (2011) â€Å"Corporate Finance – Global edition† Second edition, Pearson edition, pp. 001 FABOZZI F. (1991) â€Å"The handbook of Fixed Income Securities†, Mc Graw-Hill edition, Third edition, p. 224 FAMA E. (1998) â€Å"Market efficiency, long-term returns, and behavioral finance† Journal of Financial Economics, 49, pp. 283-306 GLAZER A. (1989) â€Å"Acquisition bridge financing by investment banks à ¢â‚¬â€œ bridge financing, as source of revenue for investment bankers, poses risk and conflict of interest† Business Horizons magazine, Sep-Oc 1989, Website: http://findarticles. om/p/articles/mi_m1038/is_n5_v32/ai_8120675/ (Seen in April 2012) ROSENBAUM J. , PEARL J. (2009)  «Ã‚  Investment Banking  : Valuation, Leveraged Buyouts and Mergers ; Acquisitions  Ã‚ » Wiley finance Vodafone Non Official Website  : www. vodafonews. com/belgique. html (Seen in April 2012) ——————————————– [ 1 ]. www. vodafonews. com/belgique. html [ 2 ]. Exhibit 13

Spanish Golden Age Painting Essay Example | Topics and Well Written Essays - 5000 words

Spanish Golden Age Painting - Essay Example From a political point of view the Spanish Golden Age lasted from the mid fifteenth till the late sixteenth centuries, but paradoxically reached a cultural and artistic climax when the country was in a state of political and economic decline, between the late sixteenth and seventeenth centuries. In a time as significant as the Spanish Golden Age from a religious and historical point of view, the surrounding influences of class, gender, and religion, including issues of patronage, are extremely important. In order to understand the circumstances surrounding and influencing the artists discussed, attention will be given to the surrounding historical circumstances, while biographical details will be used to connect the work of art with the surrounding historical factors. At the same time, the unpredictability with which artistic genius reacts to its surrounding circumstances will be respected at all times. Research QuestionDiscuss Power and Control in Spanish Golden Age painting , focussing on the visual image as a representation of the social order in Spain's Golden Age (15th-17th centuries) and the influence on the Catholic Counter Reformation in Spain. An overview will be given of the historic and religious circumstances surrounding the following Spanish artists from the golden age: Sofonisba Anguissola (1532- 1625) El Greco (born as Domenikos Theotokopolos (1541-1614), Francisco de Zurbaran, (1598-1664) and Diego Velsquez (1599-1660).The study also intends to show how these historical and religious factors have influenced each individual artist and his or her work, depending on his or her class or race. The works that will be discussed are a self portrait by Anguissola, a self-portrait of the Zurbaran as "St Luke Painting the Crucifixion", a portrait by El Greco of "The Great Inquisitor Don Fernando Nino de Guevara" and Velsquez's famous "Portrait of "Pope Innocent X" and "Las Meninas."In the case of the female Anguissola it will be shown how her class as a noble woman and her piety in a Spain after Isabella, when the Virgin cult was flourishing, helped her to be recognized in court circles at a time when female artists were almost non-existent, and on the other hand, how she was restricted by her gender.In the case of El Greco the fact that he was a foreigner in Toledo at a time when the Counter Reformation was combined with a xenophobic hatred for Jews and Muslims, his rejection by King Phillip II and his patronage by clerics with whom he was surrounded had an influence on a creativity which nevertheless remained enigmatic.In the case of Francisco de Zurbaran the influence of his religious patrons on his work and life are more obvious: combining naturalism with religious sensibility, " conf orming to the guidelines, for counter reformation artists outlined by the Council of Trent." (Mans, 1) History of Spain Spain

Scenario Essay Example | Topics and Well Written Essays - 1000 words

Scenario - Essay Example Before people commit crimes they have weighed the benefits and consequences of the act and since the teenage boy cannot find other better ways of satisfying his wants, so chooses burglary. Some of the components of the theory are free will which means that the offender (the teenage boy in our case) commits a crime willingly (Akers & Sellers 20). Expected utility principle implies that human beings tend to act, in a way, increases their benefits and satisfies their wants. This theory suitably explains the act of the teenage boy. He chooses burglary at his own will, and the purpose of the acts was to satisfy his want of getting a nice car and clothes so that he may get a girl. He had the option of finishing high schooling and getting a job but instead he, at his own will, choose to commit the crimes instead. The rational choice theory suggests that a crime is committed after the offender has carefully weighed the cost and benefits of the act (Akers & Sellers 30). As an explanation to criminal acts, this theory is valid because, for one, the offender commits a crime to achieve a certain personal goal like satisfying a human want and, therefore, before breaking the law he has to weigh and see if the goal is worth the consequences in case he is caught. Secondly, the theory states that offenders are self-interested, and they freely choose their behavior. This is true because being rational; a person cannot be forced to do something he thinks is not right. According to this theory, potential offenders can be persuaded to desist from committing a crime by increasing the fear of punishment. Since the crime is based on rational decisions made after analyzing the pros and cons of the act, increase the level of consequence can deter many offenders from committing crimes because the consequences will overweigh the benefits. In addition, this theory suggests that’s

The Preference of Music and its relationship to Culture, Personality, Annotated Bibliography

The Preference of Music and its relationship to Culture, Personality, and Mental Health - Annotated Bibliography Example The study indicates that there is a difference in the preference of culture, and the more one is familiar with the music you tend to like it. Furthermore, someone’s peer might affect the preference of music but it depends on his or her age. This source is important because it analyses the same subject that I want to write about. The author is writing detailed information about his research, with supporting tables and statistic numbers. The source is considered long but with credible information that is gathered from highly accurate measure called Continuous Response Digital Interface (CRDI). The paragraphs are organized with subtitles and celerity stating the facts and evidences. The objective of this study is to investigate if the preferred music can affect listener’s behaviors, self-harm, and drug use. It surveys and discusses the relevant literature on music preference and audience music listening behaviors, and their links ones mental health. It states that different genres of music have a different impact of antisocial and drug use in listeners, and it provides example regarding each genre. Also, it studies the link between music preference and suicide; it shows that music can indicate emotional tendencies to suicide but not a cause to it. Moreover, it describes listeners personalities depending on which music they prefer. For instance, it gives an established relationship between rap music and antisocial behaviors, vulnerability to suicide and drug use. The author uses events that have happened in the past to bring out the relationship existing between rap music for example and drug abuse for example, teens instigating a school shooting. This article is helpful in my work since it looks at the effects of the behaviors that might arise from lyrics incorporated in the music and how it is transforming our culture. The article talks about how we react to music and how it affects our

Paul Samuelson, Abba Lerner and John Kenneth Galbraith in relation to Assignment

Paul Samuelson, Abba Lerner and John Kenneth Galbraith in relation to the idea of human flourishing - Assignment Example In one of his principles he stated that a government should maintain a reasonable level of demand at all times (Samuelson & Puttaswamaiah, 2002). In this consideration, he also added that in case of too little spending in the society; the government should reduce taxes or increase its own spending to correct the situation that also leads to unemployment. The other principle stated that by borrowing money when there is need to raise the interest rate and through lending money when there is need to reduce the rate of interest, the administration should be able to uphold the rate of interest that encourages the best amount of investment (Samuelson & Puttaswamaiah, 2002). All the two finance principles were summarized in his principles with the limiting the national debt principle so that all the needs of the people in the society are taken into consideration. John Kenneth Galbraith also had principles that argued and was based on understanding the trouble that exist currently within economics and economic policies. The works that were created by him were partly rooted to Marshall’s theory of the firm most of his principles were followed after the post war economy was dominated by bureaucratic corporations with more demand of consumers and also financiers. The principles he developed believed on expenditure as a factor that would be used to satisfy the needs of the consumer. The policies that are developed by the government are those focusing on consumer satisfaction.

Visual Arts and Film Studies Essay Example | Topics and Well Written Essays - 2250 words

Visual Arts and Film Studies - Essay Example Discussion of Greek architecture and the various stages of development that it went through and the impact of those developments on their art and artifacts is the focal point of this paper. To attain the objective and to compare the variation in art pertaining to two different periods of the same civilization, pottery has been decided to be focused upon. Tabular Comparison Part II Visual Analysis The above figure is a front view comparison of the two pieces of pottery selected for this paper. In the above figure the two pieces of art are distinguished and deconstructed into 4 major and prominent factions from the front view. Tabular comparison covers the differences between the two pieces of art in detail; however a frontal view comparison is as follows. The two pieces of art can be distinguished into A= Neck, B= Handle, C= Belly and D= Base. In figure A it can be observed that the neck of the vase is slimmer and compliments the imagery that is present drawn on the body of the vase w hereas in figure B the neck is wider and once again provides a balance symmetry with the overall orientation of the amphora (Scott, 2004). The handles in both the pieces of art are different in their structure, shape and inclination and perhaps purpose as well. In figure A we can see that the handles are an extension of the vase and are not an additional inclusion in the structure of the pot. The handles are part of the design of the vase. In comparison to Fig A, handles in figure B are not highlighted in the frontal view. From the front view only edges of the handles are observable while in figure A frontal view clearly shows the features of the handles (Scott, 2004). Part C in both the pots is the Belly. In Figure A, belly is circular in its shape and is once again utilized by the artist to compliment the image that has been drawn on the body. On the other hand in Fig B the belly is elongated and is oval in its shape. Belly comprise the main proportion of the entire structure in b oth the pots but Figure A has a more radial shape of the belly in contrast to Fig B that is slender in its orientation. Part D in both the pots, as highlighted above is the base of the figure. There are similarities in the base of both the pieces of art as can be observed. The base appears to be solid and flat in both the pieces of art. Another aspect to be observed from a technical view point is the width of the base in both the figures is in accordance with the shape and size of the entire art work. In figure A the base is wider than that in Figure B and this variation in width can be associated to the fact that bellies in both the figures occupy a different volume and thus they require different widths of bases to form a balanced art structure (Scott, 2004). In the above table the two art works are deconstructed into various observable components. The differences in the orientation shape and design of the two art works clearly depicts the transformation that the art work and civi lization has come across over the passage of time (Lynch, 2005). Figura Activa refers to the active image that can be observed prominently in a piece of art. For figure A figura activa is identified to be an octopus. While in Figure B no prominent character can be identified however circular lines along the horizontal axis are the only notable existence in the art work. Mesomorph is referred to as the overall expansion of the shape of an art

In this age of globalisation, while it is absolutely necessary for Essay

In this age of globalisation, while it is absolutely necessary for large listed companies in different countries to prepare fina - Essay Example It focuses on effective use of the resources in a dynamic and competitive environment. Therefore, management accounting is concerned with resource management for facilitating decision making in an organization in tune with the changes continuously taking place due to various factors which may be internal or external to the business. International Financial Reporting Standards have not been developed with a view to report management decision making or management control. However, changes in the technology sphere, especially information technology enabled development of Management Accounting Software involving complex analysis of the business situations for the purpose of making strategic management decisions. Globalization and liberalization of the economies calls for uniformity and standardization in various fields for easy dissemination of information. Therefore, the need for uniformity in management policies, procedures and methods of applications of management techniques will even tually lead to incorporation of management accounting in IFRS over a period of time. Evolution of standards The developments taking place in the businesses are accepted slowly and shaped up by the conventions followed in the society or country in the early stages. These principles undergo various judicial tests in the evolutionary process before passing through the legislature. Therefore translation of the management accounting concepts into International Financial Reporting Standards will take time, since management accounting is relatively new compared to financial accounting which has been followed by the business for many centuries. There are differences in its adoption even in the developed countries. For instance, â€Å"there are many major differences between IFRSs and the standards issued by FASB (USA), although efforts are underway to remove them to ensure convergence† (Banerjee, 2010, p. 685). For example, the practical considerations such as adoption of current val ue for the purpose of valuation of say, land or properties will be relevant in decision making process, whereas under GAAP it is required to be stated at historical cost in the financial reports. The transitional process from GAAP to IFRS in US is expected to begin in 2014. The adoption of Management accounting in developing countries is still restricted only to the larger companies. Therefore, accounting bodies of these countries are not in a hurry to push forward the cause of management accounting at this stage. The adoption of management accounting practices by an organization is a prerequisite for management accounting reports, and it will happen only when the benefits are appreciated at the company level and the cost of operating a suitable system in respect of collection and analysis of data is reasonable and consistent with the benefits derived. Impact of IAS and IFRS on Management Accounting Prochazka and Ilinitchi (n.d.) state â€Å"The implementation of IFRS into Czech le gislation has brought new quality to financial reporting. Due to their usefulness, IFRS infiltrate into management accounting systems. In fact, in many companies IFRS carry out (satisfy, meet) the function of internal management accounting (with some modification allowing better internal performance evaluation).† However, it is restricted to certain disclosures where information available from the financial accounts is not adequate. The level of integration of financial and management accoun

Argument For and Against Banning Smoking in Public Places Essay

Argument For and Against Banning Smoking in Public Places - Essay Example As the essay highlights there is no one who is against someone being allowed to smoke. However, there is an issue that affects those around the smoker. Arguments are cited in favor of banning smoking in public places as can be seen forthwith.This paper discusses that the first reason is that the resulting secondhand smoking is harmful to the health of people. The first argument has used examples which may not be necessarily accurate. This is use of fallacy to support an argument. It has assumed use of citation from reliable sources. The second reason is that secondhand smoking is more harmful to the health of children. The fallacy prominent example is a petition to authority that is unknown. There is no source of argument in the examples. There should be a valid and reliable assumption. The other reason is that in spite of having a smoking area, smoke spreads all over other places. In this reason, there is the use of analogy that is strange- the example of food coloring. The fallacy applied is the assumption in an analogy that is not correct. The other reason factors other negative effects like the smell of the smoke. There is the fallacy of quick generalization at this point. This is in the example of the clothes holding bad smell. It is assumed that when going out to several places smoke is the only thing not accepted by individuals. Smoking in public places exposes the environment into a dangerous situation. There is the fallacy of begging the question and assumption that fire can result from cigarette butts.

MANAGEMENT OF INFORMATION SYSTEM CHANGE Essay Example | Topics and Well Written Essays - 2000 words

MANAGEMENT OF INFORMATION SYSTEM CHANGE - Essay Example The advantage is in terms of faster communication and effective information processing, which all becomes possible when firms have diversified information management systems (Dupouet 2013, pp. 6-15). Theoretical View According to modern business theorists, modernisation has brought volatile environments for businesses. Such environments are trendy and hence demand change in the organisation systems. The ability to adjust to the change has become prerequisite (Nowduri 2010). Without modification the firms cannot progress or even survive in the globalised business order. According to Bate’s study in 1994, there are two levels of organisation change: incremental and transformational (Macredie et al. 2005). The incremental change is stage-wise and is based on minor modifications just as change of an information system, processes or structure. Transformational change is radical and depends on the level of incremental change achieved within the organisation system (Marco 2012, pp. 2 20-229). Changing the information setup is a part of the organisation change process and to implement it, there are several issues that organisations have to address (Clarke 2012, pp. 79-81). This report will bring insight into theMIS change process in terms of two organisational setups including NHS (National Health Service) and Amazon. This is to bring a clear viewpoint on information system change by having a practical example of organisations presently operating. Information System Change in Amazon DATA Amazon is a leader in electronic sales and retail works on electronic data and information (Matthews 2012). The company has acquired electronic modules to manage customer based data. The nature of data is electronic, for which Amazon administrators utilise the excessive content management process (Soderstrom 2012). The reliance is highly on e-commerce and electronic management systems where information is spread to appear for international customers and the market. Amazon being a true market seller has brought diversified data management systems (K Laundon & J Laundon 2012, pp. 4-20). To manage online service activities, the enterprise has deployed advanced communication networks. These activities include site management, communication, interaction, flexible merchandising and transaction processing, which all have become possible by Amazon’s online information management system (Gorman 2012). The enterprise works on self-deployed information systems, and also has acquired commercial licensed systems for extensive information processing. This is all to ensure effective data management and communication, which are essential features of Amazon as an international business organisation (Gorman 2012). The real and most apparent change brought by Amazon was its transition from a small business enterprise into a large data holding corporation. It was all because of modifications made on the information side and in the World Wide Web business. Keeping data o f million customers at one time were not possible if Amazon had not planned its e-commerce activity. To organise the e-commerce operation, Amazon deployed an international data management mechanism (Pratt & Adamski 2011, pp. 1-30). This managed data of millions of customers at one time of operation and at a single time of retrieval. All of this was done in short time and with a maximum coverage of benefits. The design

Experimental and Quasi-Experimental Research Designs Essay Example for Free

Experimental and Quasi-Experimental Research Designs Essay The experimental research design is one of the most reliable quantitative designs available. Basically, it requires that the researcher conduct an actual experiment in order to prove the research hypothesis. Similar yet fundamentally different from the experimental design is the quasi-experimental design. his paper discusses the procedure in conducting an experimental design research and differentiates it from a quasi-experimental research design. Examples of each are given to facilitate further comparison and contrast. The first step in conducting an experimental research design is to identify the independent and dependent variables. According to Random House’s dictionary of statistical terminologies, â€Å"the dependent variable is the event studied and expected to change when the independent variable is changed. † (Random House, 2001, p. 534). In Butler and Lijinsky (2005) which is an example of experimental research, the independent variable was the type of rat while the dependent variable was the toxicity level. This meant that the research seeks to verify whether different types of rats would have different acute toxicity levels. After the identification of the independent and dependent variables, the next step is to randomly select a sample for the experiment. To randomly select a sample means to make sure that all of the members of the population have an equal chance of being selected (Corder Foreman, 2009). For example, when seeking to study a school population as is the case in of Stevens Slavin (1995), random sampling is conducted by placing all of the possible respondents in a list and selecting from that list randomly. In this way, each student has an equal opportunity to be selected for the study. Lastly, once the experiment is conducted, a secure atmosphere is generated wherein the effect of other factors are minimized (Mertens, 1998). Going back to Butler and Lijinsky (1995), the experiment was conducted in a secure atmosphere where the only variables were the type of rat and the toxins induced to them. All other factors such as the food they were given, the space of their cages and so on were kept the same for the different types of rat. In a quasi-experimental approach, an experiment is also conducted and dependent and independent variables are also selected. Measures to keep all other variables constant are also taken. However, the defining difference between the tow is that quasi-experimental designs do not conduct random sampling (Mertens, 1998). For example, the quasi-experimental research conducted by Dutton (1986) simply a sample from those that were available. This is not random sampling and therefore the design cannot be considered as experimental but it does fit the quasi-experimental description. In conclusion, it is clear that while experimental and quasi-experimental research designs are similar, they do have an essential difference. References Butler, A, and Lijinsky, W. (2005). â€Å"Acute toxicity of aflatoxin G1 to the rat† Journal of Pathology, 102 (4), 209-212. Corder, G. , Foreman, G. (2009). Nonparametric Statistics for Non-Statisticians: A Step-by-Step Approach. Wiley. Dutton, D. (1986). â€Å"The Outcome of Court-Mandated Treatment for Wife Assault: A Quasi-Experimental Evaluation. † Violence and Victims, 1(3) 163-175 Mertens, D. (1998). Research methods in education and psychology: Integrating diversity with quantitative qualitative. Sage. Random House. (2001). Random House Websters Unabridged Dictionary. Random House, Inc. Stevens, R. , and Slavin, R. (1995). Effects of a Cooperative Learning Approach in Reading and Writing on Academically Handicapped and Nonhandicapped Students. The University of Chicago Press.

Corrosion Resistance of Electrodeposited Coating

Corrosion Resistance of Electrodeposited Coating Qiongyu Zhoua,b, Yadong Zhanga, Xiaofen Wanga, Hebing Wanga, Ping Oua* aSchool of Materials Science and Engineering, Jiangxi University of Science and Technology, Ganzhou 341000, PR China bInstitute of Applied Physics, Jiangxi Academy of Sciences, Shangfang Road 108, Nanchang, Jiangxi Province 330029, PR China Keywords: Ni-W alloy; Composite coating; Cr2O3nano-particles; Microhardness; Corrosion resistance 1. Introduction Mild steel is a most widely-used metal materials in engineering and industrial applications due to its low price and acceptable properties [1]. However, mild steel could not be suitable served in the harsh environment because of its highly susceptible to corrosion and mediocre mechanical strengths [2]. Failures (such as corrosion or wear) often occur on the surfaces of mild steel devices [3]. Therefore, preparation of an protective coating is one of the best known methods for broadening the application fields of mild steel [4, 5]. In recent years, electrodeposition technology has been widely used because it is really a convenient, practical and inexpensive method for engineering application [6]. Numbers of metal or alloy (such as Ni [7], Zn [8], Cr [9], Ni-W [10, 11], Ni-Co [12], Zn-Ni [13] et al.) have been  electrodeposited as the protective coating on the surface of mild steel. Among these coatings, Ni-W alloy coating has drawn lots of interests as a candidate to replace hard ch romium, because of its low toxicity for aquatic species [10]. In general, the purpose of researches on electroplated Ni-W alloy coating is how to enhance their hardness and corrosion resistance. Particularly, incorporation a second ceramic particles into the growing metal or alloy matrix during the electroplating process is a effective method. The composite coatings always exhibited enhanced mechanical and corrosion properties [14-17]. For this reason, a large amount of researches have been drawn on Ni-W nanocomposite coatings (Ni-W-Al2O3[18], Ni-W-SiO2 [19],Ni-W-TiO2[20], Ni-W-diamond [21] and Ni-W-SiC[22], et. al). The ceramic particles used as the second-phase in the composite coatings, more or less, would promote the corrosion resistance, hardness or wear-resistance [23-25]. Although nano-Cr2O3 particles  have been certified as a favorable and considerable incorporated ceramic particles in Ni or Co coating [26, 27], there is no report about nano Cr2O3 particles employed in electrodeposition of Ni-W nanocomposite coatings so far. In this p aper, in order to improve the performance of Ni-W alloy coating which is know as a environment friendly protective coating with excellent for mild steel, Ni-W-Cr2O3 nanocomposite coating was electrodepositied in the sulfate-citric bath containing various of Cr2O3 nanoparticles for improving both its hardness and corrosion resistance. Mild steel (1-1 cm2, Q235, Baosteel Co., Ltd. in Shanghai, China) was used as cathode and a platinum plate (1-1 cm2, Xianren instrument Co., Ltd. in Shanghai, China) was employed as the anode. The mild steel was mechanically polished by 800, 1200 and 2000 grit emery-paper and then ultrasonically cleaned in acetone for 600 s. The cleaned mild steel was activated in 10% (w/v) HCl solution for 30 s and then washed with distilled water. The base consist of electrolyte solution is as follows: 26.3 g/L NiSO4 ·6H2O, 98.95 g/L Na2WO4 ·2H2O, 147.05 g/L Na3C6H5O7 ·2H2O, 26.75 g/L NH4Cl, 0.3 g/L NaBr. Before electrodeposition, nano-Cr2O3 particles was added into the electrodeposition bath and then dispersed by ultrasonic concussion (3600 s) to break up agglomerates. The electroplating current density and time were 4 A/dm2 and 1800 s. 2.2. Coatings characterization The surface morphology was studied using a scanning electron microscope (SEM, JEOL JSM-6700F), supplied with an EDS spectrometer (Oxford Instruments, UK) for determining the chemical compositions of the coatings. The phase compositions of electrodeposited coatings were characterised by X-ray diffraction (XRD, D/max-2200) with Cu KÃŽ ± radiation, operating at 40 kV and 40 mA, scanning from 20 ° to 100 ° with the step of 0.02 °. The surface microhardness ofNi-W-Cr2O3 nanocomposite coatings were measured using a microhardness tester (VH-3) at an applied load of 9.8 N for 15 s, each sample was tesetd five times for averaging. The corrosion behavior of the obtained coating was evaluated in 3.5 wt.% NaCl solution by using an electrochemical workstation (CHI660E). All experiments were conducted in a conventional three-electrode cell (consisting of the electro-deposied coating as a working electrode, Pt sheet as a counter electrode and SCE as a reference electrode). The potentiodynamic polarization test (Tafel) of electro-deposied coating was tested from -800 mV to -400 mV with a scan rate of 1 mV, while mild steel was tested from -900 mV to -600 mV. Electrochemical impedance spectroscopy (EIS) was conducted at Ecorr, with voltage perturbation amplitude of 10 mV in the frequency range from 105 Hz to 10-2Hz. All electrochemical tests are carried out at room temperature (25 oC). 3.1 Characterization of nano-Cr2O3particles The characterization of nano-Cr2O3particles was carried out by using TEM and XRD analysis, the results are displayed in Fig. 1. It is showed that the particles are free of secondary phases except Cr2O3, which is consists of polyhedral structure with the mean diameter of about 40 nm. Inevitably, there are  some degree of agglomeration between the nano-particles. The composition of electroplated W alloy coatings can be analysed by EDS as the previous studies [28]. The W content and Cr2O3 in the electroplated coatings as a function of Cr2O3 addition in the electroplating bath are displayed in Fig. 2. The Cr2O3 content is corresponding to detected Cr element ratio in Ni-W-Cr2O3 nanocomposite coatings. As shown in Fig. 2, with the increase of Cr2O3 concentration in electroplating bath, the Cr2O3 particles incorporated in the coating increase rapidly when the Cr2O3 concentration is low (≠¤5 g/L). While it increases gradually when the Cr2O3 concentration is in range of 10-20 g/L. A deviation from the Langmuir adsorption behavior in the high Cr2O3 concentration solution is observed, which is caused by some particles would sedimentate by gravity in hydrodynamic conditions of without agitated. In addition, the results reveal that W content corresponding decreases with the increase of Cr2O3 addition in electroplating bath. This is because that th e sufficiently high overpotentials is in favour of deposition of W atom[29]. Once the Cr2O3 nano-particles adsorbed on cathode surface, it could form as nucleation sites and accordingly reduce the overpotentials. As a result, the deposition of W atom is inhibited, while Ni itself can also be deposited from its complex with citrate[30]. Fig. 3 shows the XRD patterns of the coatings electrodeposited in the bath with and without Cr2O3 nano-particles. In the bath without Cr2O3 nano-particles (shown in Fig.3a), the pattern of obtained coating consists of a broad peak from 41 ° to 47 °, indicating the amorphous nature of the Ni-W alloy coating. The amorphous structure should be electrodeposited under the pretense of the deposition rate is high compared to the exchange rate, which implies that all metal atoms are immediately discharged once they get to cathode surface. Thus, high content of W in the alloy must be observed, which is confirmed by the EDS result (45.8 wt.%, shown in Fig 2). What more, the amorphous characteristic also can be demonstrated by the SEM micrograph of Ni-W alloy coating (Fig.4a). As the results reported in the literatures by O. Younes [30] and T. Yamasaki [31], the electrodeposited Ni-W alloy coatings presented as an amorphous state when tungsten composition ranged from 20 to 40 at.%. While th e structure of deposited would transform once the Cr2O3 nano-particles existed in the bath, Ni-W-Cr2O3 nanocomposite coatings exhibit crystalline fcc structure of Ni-W alloy and Cr2O3 phases. The reason for this phenomenon is that the reduced overpotentials caused by the adsorbed Cr2O3 nano-particles on cathode surface would lead to deposition of crystalline phase, which is thermodynamically more stable than the amorphous phase [30]. Simultaneously, an unidentified peak at 2ÃŽ ¸Ã¢â€°Ë†41.4 is presented in the patterns of the Ni-W-Cr2O3 composite coatings. Similar peak have been observed by I. Mizushima et. al [32] and R. JuÃ… ¡k-nas et. al [33]. The former proposed that it is the codeposition of nanocrystalline Ni(-W) and Ni-W-C phases [32]. While R. JuÃ… ¡k-nas et. al claimed this peak corresponded to NiWO4[33]. However, so far this anomalous peak remains unidentified. As the increasing of Cr2O3 nano-particles addition in solution, the intensity for diffraction peak of Ni-W (111) i ncreases and unidentified line profile decreases, indicating that grain sizes of the Ni-W crystallites increase and the unidentified phase in the composite coatings gradual reduce. Fig. 4 shows the surface morphology of the coatings electrodeposited in baths containing different amount of Cr2O3 nano-particles. In all cases, the coatings are compact, uniform and crack-free, which can provide a barrier to protect substrate material. In comparison of Ni-W coating which shows a typical amorphous characteristic which is absence of grain boundaries, Ni-W-Cr2O3 composite coatings is consisted of irregular crystal structures, uniform distributed ultrafine Cr2O3 particles and some arresting big nodules, which is caused by Cr2O3 agglomerates codeposited with Ni-W as metal electrocrystallized. With the increase of Cr2O3addition in the solution, the Cr2O3 particles corresponding increase and the nodules trend to be unobvious. The reason may be that Cr2O3agglomerates become much more serious in the high concentration solution and then precipitate by settlement. Thus, the possibility for agglomerates absorbed on the vertically cathode surface and formation of nodules reduce during the electrodeposition process. Generally, homogeneous distribution of incorporated ceramic particles in composite coating would be benefit to enhance its properties [18]. 3.3. Microhardness The microhardnesses of Ni-W and Ni-W-Cr2O3 composite coatings are showed in Fig. 5. Compared with Ni-W coating (687 HV0.1), Ni-W-Cr2O3 composite coatings exhibite a considerable increase in microhardness (717~764 HV0.1). And the harness increase with the increase of Cr2O3concentration in the bath. Similar trend is usual observed in previous publication [18, 19]. The nano-particles incorporated in alloy coatings would positively contribute on the hardness by impeding the fast dislocation movement the grain boundary sliding of the matrix [19]. As a result, the hardness is direct relate to the incorporated Cr2O3particles in the coating, which increased with the Cr2O3 concentration in the bath ( as shown in Fig. 1). It is noted that the increase in hardness of the Ni-W-Cr2O3 composite coating are limited when the Cr2O3 concentration in the bath increase from 10 g/L to 20 g/L. As the research published previously, both W content and incorporated nano-particles would contribute to the hard ness of W alloy coating [11, 20]. With the increase of Cr2O3 concentration in bath, the increase of Cr2O3 in electrodeposited coating would result in increased hardness, However, the promotion of hardness performance would be limited by the contrary effects of decrease of W content in electrodeposited coating. 3.4 Corrosion resistance properties The corrosion resistance of electrodeposited coating was evaluated by polarization curves and EIS, the result displayed in Fig. 6 and Fig. 7, respectively. The corrosion parameters (Ecorr , icorr) extracted form polarization curves in Fig. 6 are listed in Table 1. It is revealed that both amorphous Ni-W coating and crystalline Ni-W-Cr2O3 nanocomposite coatings show noble Ecorrcombine with low icorr compared with mild steel substrate. This means, the compact electrodeposited coatings can provide an effective protection for mild steel substrate. A passivation region (-0.55V~-0.45V) is observed in the anode area of polarization curves for Ni-W coating. Passive layer is often formed on the surface of amorphous alloy and provide protective effect for prevent further corrosion [34]. Meanwhile, the Ni-W coating show a lowest icorr in all electroplated coatings, indicating a most excellent corrosion resistance. In addition, with the increase of Cr2O3 concentration in electroplating bath, the corrosion resistance of obtainedNi-W-Cr2O3 nanocomposite coating became better in view of a gradual increase of icorr. When the Cr2O3 concentration in the bath increased to 20 g/L, Ni-W-Cr2O3 nanocomposite coating show a fairly approximate icorr compare with that of Ni-W coating. The corrosion reaction and products at the electrode/electrolyte interface can be analysed by EIS measurements in conjunction with impedance fitting. Fig. 7 show Nyquist plots of mild steel and electrodeposited coatings obtained in baths with different amount of Cr2O3 nano-particles. The plots for electrodeposited coating and mild steel substrate are consist of a continuous circle arcs, meaning that aggressive ions (Cl) can not across the compact coating and only one primary interfacial reactions occured between the coating surface (or mild steel sample) and electrolyte. To model this corrosion behavior, suitable equivalent circuits showed in Fig. 8 was employed [35]. In this equivalent circuit, Rs is solution resistance, Cdl is double-layer capacitance formed in the substrate/electrolyte interface, CPE is a constant phase element for revealing the non-ideal dielectric properties of the coatings, and Rct is the charge transfer resistance of the coating (or substrate) interface, which relate to the intrinsic corrosion reaction of materials. The fitted values are listed in Table 2. As shown, Rct value of Ni-W-Cr2O3 nanocomposite coating electrodeposited in the bath containing 2 g/L Cr2O3is much smaller than that of Ni-W coating. This is because passive layer formed on Ni-W coating surface would prevent corrosion reaction, while no passive behavior have been observed for the crystalline Ni-W-Cr2O3 nanocomposite coating. What more, the Rct values of Ni-W-Cr2O3 nanocomposite coating increase with the increase of Cr2O3concentration in the bath, and the Rct value of Ni-W-Cr2O3 nanocomposite coating electrodeposited in the bath containing 2 g/L Cr2O3is quite close to the Rct value of the Ni-W coating, meaning that this Ni-W-Cr2O3 nanocomposite coating have an excellent corrosion resistance as amorphous Ni-W coating. Compact Ni-W-Cr2O3 nanocomposite coatings were electrodeposited on mild steel from sulfate-citrate bath containing Cr2O3nano-particles. Compared with Ni-W coating (687 HV0.1), Ni-W-Cr2O3 composite coatings exhibite a considerable increase in microhardness value (717~764 HV0.1). In addition, incorporation of little Cr2O3nano-particles into amorphous Ni-W coating would transform its structure to crystalline, which resulted in no passive behavior occurred on the coating surface and decrease of corrosion resistance. However, the corrosion resistance of Ni-W-Cr2O3 coating could be improved with the increase of Cr2O3concentration in the bath. Finally, a excellent Ni-W-Cr2O3 nanocomposite coating with approximate corrosion resistance and much higher hardness compared with Ni-W coating can be obtained in the bath containing 20 g/L Cr2O3nano-particles. This Ni-W-Cr2O3 nanocomposite coating can be considered as an ideal protective coating to broaden the application of mild steel.

Water Pollution In Rural Areas Environmental Sciences Essay

Water Pollution In Rural Areas Environmental Sciences Essay Water is a vital commodity and is essential to the natural environment. We not only rely on it for drinking but also for its use in industrial processes, cooking, cleaning and the growing of our food. There are many sources of water pollution the major sources of water pollution being; runoff, agricultural pollution, urban stormwater, organic matter, toxic waste, and thermal pollution (The Environment Agency 2010). These types of pollution tend to be area specific (for example agricultural runoff will on the whole come from rural areas as thats were most farms are situated) although this is not always the case, any type of water pollution could occur in any area rural or urban. Rural and urban areas both have many contrasting sources of pollution, all of which will have varying affects on the surrounding environment and its habitants. Although the environment which makes up Urban and rural areas can be vastly different they can at the same time be affected by the same environmental problems relating to water pollution. One example of this is eutrophication of waterways both rural and urban. Eutrophication is a situation when foreign bodies such as fertilizers of sewage enter a river or stream and act as a nutrient for algae causing rapid growth and algal blooms (May Sivakumar 2009). These algae grow out of control and thus the water becomes depleted in oxygen. The water becomes depleted in oxygen because dead algae sink to the river bed the retrieve the oxygen so it can decompose. This can then lead to further problems if too much algae decomposes it may use all the oxygen. This will mean all the oxygen has gone and because the water near the surface of the water is warmer its oxygen doesnt mix with water from the bottom as its colder and has a higher density .This eutrophication of a water body can occur in both rural and urban areas. In an urban area this problem arises primarily from sewage treatment works, if a works has an increased amount of sewage to treat then there may be some secondary or direct discharge that may enter the water supply thus causing Eutrophication (Neal et al, .2010). A similar problem can occur when leaks of phosphorus from septic tanks discharges into a local river system (Neal et al,.2010) although this isnt tied down to either rural or urban areas .This is also very likely to occur in rural areas where agriculture is more prominent and the uses of fertilizers are increased. Particularly in the following practices of cereal production, maize, potato and dairy production where fertilizers are heavily used or large amount of manure needs to be recycled. (Jarvie et.al 2009) One of the biggest problems which can lead to the pollution of urban waterways is runoff. Runoff is also a major cause for concern in more rural areas and areas of intense agriculture. The problem of runoff in urban areas however is contrasting to rural agricultural runoff. In the sense that runoff in urban areas arises from garden fertilizers, pesticides, anti-icing chemicals, vehicle emissions and pet waste. These pollutants are both organic and inorganic and can also be perversely complex, this leads to little knowledge of how these pollutants will interact once they combine and enter a water body. Due to the little knowledge of these interactions it makes it increasingly difficult for an amount allowable discharged concentration to be devised (Kuhl et.al 2010). These pollutants runoff into any local water system via tarmac or pavement areas and because of the increase in tarmac and concrete roads and driveways it makes this pollution easier to reach the water. This non permeable surface which is found more so in urban areas not only makes it easier for any pollutants to travel into water systems , but it also increases the risk of flooding and the risk of storm water moving sewage into freshwater. In rural areas this isnt such a prevalent problem as most rural areas are permeable. Although because of this it makes the control and identification of runoff in rural areas much more difficult to locate. Runoff in rural areas is usually linked to agricultural runoff. This is categorized as nonpoint-source pollution because the pollutants involved originate over larger areas and the entry of this pollution into waterways cannot be pin pointed precisely (which is not the case for some sources of urban pollution). As this rural agricultural runoff is nonpoint-source it means any treatment of pollutants entering any water system is almost impossible, although agricultural runoff can be supervised in other ways such as farmers minimizing fertilizer use and the correc t disposal of animal waste and fertrilizers. However there is another type of pollution Point source which is where pollution will enter a water system in a specific point (such as a sewage pipe). These point sources of pollution are more often found in urban areas where there may be a sewage treatment plants are normally located. This type of point source pollution makes any control or treatment of pollution much easier as it is located in one area and not spread over larger areas as agricultural runoff sometimes can be. Urban stormwater is a major source of pollution to any water bodies. It arises from when rainwater washes over any impermeable urban area picking up with it toxic chemicals, vehicle emissions, sewage, household waste etc. The problem of urban storm water becomes exacerbated when extremely heavy rainfall occurs and the flushing water can erode stream banks and streambeds. This stormwater will then be moved downstream along with any eroded soil into any waterbodys, this sediment will then sink to the bottom of a water body. This can do damage to aquatic environment and can even destroy fish eggs. Excessive sediment in a water body can damage aquatic life in other ways. It can increase risk of disease, damage fish gills and also because of thick layer of sediment will cause darker conditions it may block enough light to limit growth of aquatic plants which is essential along with oxygen to aquatic life. As well as sediment from eroded soil urban stormwater can also pick up metals from t he urban environment, the main source of which is from vehicle emissions in urban environments. Some examples of the types of metals usually found in urban stormwater are Lead, cadmium, zinc, mercury, iron, nickel and copper. All of which have differing affects including damage to fish gills and death of aquatic organisms. These metals will accumulate on roadways and then be washed off in rainwater into the water bodies. In smaller amounts metals can derive from other sources such as metal roof tops which are pelted from heavy rain, some weed killers contain zinc and also scrap yards which keep metal outside. Unlike most sources of urban water pollution rural sources normally come in the form of diffuse pollution. One of the mains sources of which is agriculture as previously mentioned, the main pollutants involved in diffuse water pollution in agriculture are nitrogen and phosphorus. Phosphorus and nitrogen are both essential in term of animal and plant growth. Phosphorus and nitrogen are found in a variety of different sources. Animal waste as found in areas of agriculture, also the use of phosphorus and nitrogen in fertilizers contributes to water pollution. The adding of fertilizers to crops also returns the essential phosphorus back to the soil, which gets taken from the soil to help grow the crops to start with. Phosphorus can also be found in soils in both the organic and inorganic form. In terms of organic phosphorus it exists in plant residues, organic soil and microbes. Phosphorus can also be in an insoluble form within soil meaning that plants cannot take in this phosphorus. Wh en fertilizers are applied that contain phosphorus as soluble compounds most of the phosphorus will be absorbed into the soil which can then be washed on directly into a body of water, leading to eutrophication. This introduction of nitrogen can seriously affect the balance of the natural nitrogen cycle. Nitrogen is essential nutrient for plant growth and part of a natural cycle that occurs which if perturbed can have serious effects on organisms that rely on the cycle. As shows in figure 1 the addition of extra nitrogen from farming practices and the use of fertilizers will lead to the potential eutrophication of water bodies. This is due to the when the balance of the nitrogen cycle is interrupted with the addition of nitrogen from fertilizers. As a result of this the natural nitrogen cycle expels the surplus nitrogen which can be washed away into a water body. Figure 1 Nitrogen cycle diagram (source:http://www.physicalgeography.net/fundamentals/9s.html) Although not a major source of water pollution Mining still can influence water bodies. Mines are normally found in more rural areas although they can be found in urban areas, as in earlier time small towns would have been built around these sources of coal and iron ore .Minings primary source of water pollution comes from acid drainage in mine systems. This happens when the contents of a mine (coal or metal ore) oxidise on contact with air to create sulphuric acid. This problem of mine drainage is more of a problem generally in closed mines. This is because water which may have previously been blocked or stopped somehow from entering can now enter washing the acidic solution with it. As well as containing sulphuric acid the washout from the mines may also contain high concentrations of sulphur, heavy metals and iron. When this mine drainage enters a water body the change in pH from acid to a more neutral pH causes the iron to precipitate as ferric hydroxide. This will settle to the bottom of a water body which will deplete the water of oxygen thus seriously harming aquatic life. Mining can be mainly described as a rural source of water pollution whereas one source can be described as the opposite. Land fills sites are growing and growing in the United Kingdom and many land fills are situated in urban areas as they tend to bill filled with waste from nearby towns and citys. Land fills are a potentials source of water pollution as when it rains when waste is being deposited the rainwater will pass through the waste picking up along the way all the pollutants such as heavy metals, ammonia and oxygen depleting pollutants which if they reached the water bodies could seriously harm any aquatic life. Also the waste itself in whatever from this may come in as will contain water and as the waste degrades in the landfill this water will be released which will also carry the pollutants into the soil, which may eventually end up in a water body. These problems will all be more prevalent with older land will sites as new land fills have measure in place to reduce the ris k of water pollution from these sites. In conclusion both rural and urban areas have a number of different sources of water pollution. Although there are some very different sources such as mine drainage in rural areas which causes acids and heavy metals to enter water body whereas in urban areas land fill sites can cause pollutants such as ammonia to enter water systems. One common source that both rural and urban areas share is runoff. Although both share this source of pollution they do both differ slightly. Rural areas will tend to have agricultural runoff where nitrogen and phosphorus are the common pollutants which as a result cause eutrophication. Whereas urban areas also encounter the pollution problem of runoff but in term of the pollutants involved it varies significantly to rural runoff. Urban stormwater which is the urban runoff differs to agricultural runoff because it can pick up many more types of pollutants such as heavy metals, oils and other vehicle related emissions, sewage, household waste and like rur al runoff it also can pick up fertilizers from gardens. This urban stormwater can be considerably worse in terms of the impacts on aquatic organisms than agricultural runoff because of types of pollutant that are involved. It is also important to remember that because agricultural pollution is diffuse or non-point source pollution as previously mentioned this makes the treatment or control or agricultural runoff much more difficult than the control or treatment of point sources of pollution such as urban sewage leaks.

Psychodynamic Model Essay -- Psychology, Freud

RAD is one of the least researched disorders in DSM and it difficult to diagnose accurately (Chaffin et al, 2006). There is also difficulty in distinguishing between consequences of maltreatment, disorganized attachment and attachment disorder (Prior & Glaser, 2006). In the United Kingdom, according to British Association for Adoption and Fostering (BAAF), only psychiatrists can diagnose RAD and any assessment regarding RAD must include a comprehensive evaluation of child’s family history and individual history (BAAF, 2006). There are other disorders that share many symptoms with RAD and they are often co-morbid or confused by RAD, such as anxiety disorder, Post Traumatic Syndrome Disorder (PTSD), social phobia and conduct disorder (Sadock, 2004). The developmental psychopathology models which are going to be evaluated in this essay are: psychodynamic model and the family systemic model. Psychodynamic Model Psychodynamic model was developed by Sigmund Freud to describe the process of mind as flows of libido (psychological energy) in brain (Bowlby, 1999). In Psychology, Psychodynamics is the study of the inter-relationship between several areas of the mind, personality, or psyche, as they relate to mental, emotional or motivational focuses, emphasising on the dynamism of unconsciousness (Freud, 1923; Hall, 1954). Psychodynamics, basically, focuses on the formation of psychic energy (Hall, 1954) and its distribution over the human system and development by the virtue of interaction among ‘id’, ‘ego’ and ‘superego’ (Freud, 1923). Some of the key believes of psychodynamic are discussed here. Firstly, Freud believed that the mind is like an iceberg (Freud, 1953) , mostly hidden, and that free association would ultimately ... ...of this point of view the member of family could understand the patient’s situation and they can help them to be treated properly, and the patient have the support of the family. On the other hand, stressing too much on the family and not seeing other issues around the patient could be a weakness. The disorder may be caused by a medical issue or genetic and the approach could be criticising to be reductionist from this aspect. Conclusion In conclusion, from my point of view family systemic model seems to be better to justify and explain the attachment disorder. As attachment disorder is directly grounded in the family and the child’s relationship to caregiver (Bowlby, 1980), investigating on the family system to improve and treat the disorder can be seen more logically better and also the patient can have the family support around and rebuild the relationship.

Free Market Essays -- Capitalism, Bill Gates

Free-market Capitalism means that businesses are able to sell their product at whatever price they feel the market can sustain, allowing customers to buy products at a price they are willing to accept. The key to this market is price fluctuation; where pricing goes up or down to reflect supply and demand. The healthiest markets are those in which there are many producers competing for business and many consumers competing for the available products. This type of market minimizes the involvement of government, lessening regulations, unions, and trade barriers, allowing the businesses and the customers to decide which business will be successful. This in turn creates more jobs and competition (TheFreeDictionary, 2009). Creative capitalism is centered around companies’ spending money on projects that are seen as socially desirable. To Bill Gates (2008), it is "market-based social change [that adds up to] doing work that eases the world's inequities â€Å"(Gates, 2008). This constitutes companies supporting causes that are important to the customers in their neighborhoods. Many companies are jumping on aboard what some are calling the RED campaign, which started as a fight to end AIDS in Africa but has now expanded to a worldwide fight to end AIDS and to have an AIDS free generation. While this is just one of many community campaigns, the result of the community work done by companies has some economic advantages to the business. Some corporations have identified brand-new markets among the poor. The use of tier pricing has allowed them to provide life-changing technologies at cost, while increasing the cost to those who can afford to pay more. For example, Vodafone bought a stake in Kenyan Cell Phone Company, thinking that the m... ...eally is a positive force for change, and as such it becomes beneficial to engage in these positive activities to increase employee dedication and loyalty. Ultimately, it is easier to hire and retain employees when they feel invested in the company’s goals (Gates, 2008). It is on this note that it would be wise to consider what the implications are for companies that engage in such Creative capitalism with regards to their performance, employees, and profitability. Not all employees are equally dedication to company goals and this is a positive way to gain their support. Profitability can be gained through the use of creative capitalism, finding a niche and exploring it to the benefit of all involved. The increase of performance and exposure does not necessarily obviate the need to advertise and build the brand, it would be a tool to use during these campaigns.

Vergil as the Greatest of all Latin Poets

Vergil is generally acknowledged as the greatest of all Latin poets. He was famous in his own lifetime and was the first poet in the history of Latin literature to be the subject of lectures given by a contemporary teacher. There seemed to be a great deal of interest in him and on his rare appearances in Rome he was pointed out in the streets as if he were a celebrity. However, in his private life he was know to be very shy and preferred the quiet countryside to the pandemonium of Rome. He was born as Publius Vergilius Maro in Andes, a small village, near Mantua (Mantova), Italy on October 15, 70 BC. He had two brothers; Silo, who died in his childhood, and Flaccus, who lived to be a young man. Vergil's father, a potter and cattle farmer, worked hard to provide his son with an Aristocratic education. After he completed his studies in Cremona and Milan, Vergil went to Rome to study law and rhetoric at Epidius' academy. It was in Rome that he met Gaius Maecenas, a Roman statesman and patron of the arts, who saw Vergil's promise of greatness and sponsored his education. In addition he developed a friendship with Octavian, who later became Emperor Augustus. While in Rome, he studied alongside many prominent poets including Gaius Cornelius Gallus, Horace, and Lucius Varius Rufus. After leaving Rome, Vergil went to Naples to study under Siro. Here, he studied philosophy and also became a member of a group of Epicurean thinkers outside Naples. This group gathered in Campania, at a retreat known as â€Å"the Garden†, under the leadership of Siro, Vergil's teacher and friend. Originally, Vergil wanted to study law but he gave up after pleading only one court case and devoted himself to philosophy and literature. He spent most of his life in the countryside of Campania, but kept a house on the Esquiline Hill in Rome, which was given to him by his friend and patron Maecenas. He wrote three major works in his lifetime. Early in his career he wrote the Ecologues, a book of 10 pastoral poems. This was followed by the Georgics, a didactic poem on farm life. His last and greatest work was the Aeneid, a mythological epic poem describing the seven-year wanderings of the hero Aeneas. Vergil's first major work was composed between 42 and 37 BC. This was a ten book pastoral poem know as the Eclogues or Bucolic. It was modeled on the Idylls of Theocritus, an Alexandrian poet. Vergil's emphasis is on graceful rhymes and the description of a romantic setting in northern Italy, but he also added many realistic details such as, his father's eviction from his farm due to political seizure. The most famous of The Ecolouges, The fourth celebrates the birth of a child who is destined to usher in a new Golden Age of peace and goodwill. Critics have made definite connections between Vergil's fictional characters and real people. Some have suggested that the divine birth refers to Mark Anthony, or possibly Vergil's friend Octavian, who became Augustus, Rome's first emperor. Still others see this divine birth as a reference to the birth of Christ. His next major work was the Georgics, or Art of Husbandry, which was written from 36 to 29 BC. It is a four-book poem that described the life of a farmer. Its inspiration is said to come from the Greek poet Hesiod's Works and Days. Vergil's position as the leading poet of the age was confirmed with the Georgics publication. The poem deals with planting, caring for orchards and vineyards, stock management, and beekeeping. However, the main emphasis is on the values of Roman life, particularly the work ethic. The poem was designed to be universal in scope with the topics of war, peace, death and resurrection concluding each book. Vergil devoted his last ten years to the composition of the Aeneid. This is his last and, by far, best known work. It was written between the years of 30 to 19 BC in twelve books. Modeled after Homer's epics, the Iliad and the Odessey, the Aeneid is a mythological epic describing the seven-year wanderings of the Roman hero Aeneas, from the fall of Troy to his military victory in Italy. Aeneas, while central to the story, is more symbolic than realistic. His character exists to tell the story of the founding of Rome and to personify the Roman values of duty and responsibility. In the story, Aeneas escaped from Troy carrying his father on his shoulders and leading his young son Ascanius by the hand. He brought together a fleet of Trojans and sailed the eastern Mediterranean Sea to Thrace, Crete, Epirus, and Sicily before being shipwrecked on the coast of Africa. Here Dido, the queen of Carthage, fell in love with Aeneas. The two began to live together as husband and wife and Aeneas intended to make Carthage his home. Jupiter, king of the gods, warned Aeneas that he must leave Dido in order to continue on his destined mission to found Rome. In despair, Dido killed herself when Aeneas departed for Italy. After landing at the mouth of the Tiber River in Italy, Aeneas killed Turnus, the king of the Rutulians, in a war for the hand of Lavinia, who was the princess of Latium. According to Vergil, the Romans were direct descendents of Ascanius, the founder of Alba Longa, the mother city of Rome. The Aeneid is usually considered the first great literary epic, unlike the Iliad, which in essence is a work of oral poetry. The Aeneid was written as a deliberate attempt to glorify Rome at the request of Augustus Ceasar. The historical elements are especially prominent in books five through eight, the central portion of the poem. The Aeneid became a classic in its own day. All of Rome, particularly the royal family, followed the progress of the epic. Vergil would read aloud from rough drafts of the Aeneid to Augustus, his sister, Octavia, and Maecenas. As he refined his work during his later years, the poet led a comfortable life, devoting himself to historical research. In 19 BC, Vergil set out on a trip to Greece and Asia with the intention of revising his masterpiece. In Athens, he met Augustus and unfortunately became very ill during his stay in Greece. Augustus escorted his friend back to Brundisium, Italy, where he died before his epic could be revised to his satisfaction. To prevent the Aeneid from being read in rough form, Vergil left instructions that it be destroyed. Augustus, realizing the value of this work, intervened before this request could be carried out and assigned two of Vergil's poet friends, Varius Rufus and Plotius Tucca, to edit the manuscript for publication. The work was completed near the end of 18 BC. It achieved immediate acceptance throughout the Mediterranean as the definitive Roman epic. On his deathbed, Vergil immortalized himself with a short epitaph, which his friends inscribed above his grave. It ends with this line: â€Å"I sang of pastures, farms and rulers†. This became a touching summary of his three great works.