Prepaid Wireless Industry

Technology has totally revolutionalized the manner in which we carry our day-to-day activities. The communication industry seems to be one of the greatest beneficiaries of the advanced technology since there are so many changes that have taken place.Advertising We will write a custom research paper sample on Prepaid Wireless Industry specifically for you for only $16.05 $11/page Learn More Life has become easier and simpler with the technological advancements. The prepaid wireless industry is one of the industries that has emerged as a result of advancement in technology. This industry is highly competitive and this has seen many companies come up and stiff competition that is characteristic of this industry and has ensured that customers benefit greatly due to the high quality services being offered. The focus of this discussion will be on some of the key players in this dynamic and highly competitive industry. The companies in focus are epay worldwide. com. Emida.net and eurekarevenue.com. This discussion will also look at some of the advantages that each of these services has and which of the companies is stronger. Epay. Com is an international company whose main business is the distribution of payments solutions electronically. These services are instrumental in helping providers of various services reap maximally from the sales of their services as well as products. With more than half a million selling points in various countries of the world like Spain, Ireland, Italy, India and Germany, epay.com has continued to deliver highly innovative and specific tailored services as far as making of payment by electronic means in concerned (Epay 3). The advantage of the prepaid services provided by epay.com is that customers are able to access an array of gift cards which are branded. With this concept of prepaid, retailers are able to come up with categories and destinations that are fully supported by experts from epay. Retailers also have the advantage of being able to distribute their services throughout the network. Emida.net on the other hand is a company that operates globally whose main services include the making prepayments globally as well as value transfer market. This company operates in more than 30 counties in the whole American region and part of the African and Caribbean region.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The retail points supported by Emida.com are estimated to be about 46,000 with annual payment of the dollar being estimated to stand at $1.4 billion with estimates of transaction transacted by the company being estimated to stand at 180 million. Some of the advantages that emida.com has included allowing international as well as domestic distribution of various products which are prepaid in nature and services that involve payments. Retailers, ISOs, service providers and car riers using emida.net also have the advantage of getting robust revenues. Currently, emida.net is said to be leading as far as proving prepaid services is concerned. One issue that distinguishes emida.net from other companies is the fact Eureka has partnered with most of the well established carriers throughout the world and this has enabled eureka to a great extent to create a reliable network which has proven helpful to clients throughout the world. This company also caters for long distance prepaid services and this has brought about convenience and customers are able to get value and the revenue goes up. Any retailer or service provider who has subscribed with emida will also be in a position to offer all their customers, cost effective, convenient and safe options that they can implement to ensure that their financial needs are well managed. Under the financial services provided by emida, your clients will comfortably be able to purchase stored value cards as well as prepaid de bit and also foot their bills. Through these services, it will also be possible for them to make transfers of money to family and friends in convenient hassle free manner. The kind of services that you will receive from Emida will ensure that the portfolio of your products is well built (Emida 2). It is common knowledge especially in the world today that payment of bills especially if they are hefty can prove to be very risky.Advertising We will write a custom research paper sample on Prepaid Wireless Industry specifically for you for only $16.05 $11/page Learn More Besides the risk, the hassle involves is nothing to write home about. Having paid full recognition to the challenges that consumers experience in payment of bills Emida has come up with a way of making it easy for clients to foot their bills which is not only easier but also more reliable and convenient. The payment solution provided by Emida ensures that you gain access to numerous billers from telecommunication to providers of utilities, insurance among others. With this pay bill solution, all one needs to do is to make payments at a local shop and this helps eliminate the risk factor as well as one is saved the hassle of making the payments and also one is able to save time that would have been wasted in making queues. For those customers who have subscribed to AT T services, you can also make it easy for them through emida.com. Just like the bills, these customers subscribed to AT T can also make payments through the local shops. Eurekarevenue.com though it has been in the market for a fewer years compared to its competitors, it has managed to create a niche itself. This company is dedicated to making life easier for those who prefer the option of truncating using cash as opposed to using credit cards and cheques. The platform created by Eurekarevenue has made it simple for customers the world over to enjoy prepaid services through electronic means and with a wel l established and robust network. The company has managed to partner with different well established and this has ensured that clients get convenient services within their reach. Eureka revenue has various products that they offer which include the ERI web and the ERI terminal. The terminal is an effective simplifies of selling airtime of prepaid wireless. These terminals are used as they are provided by the company without the need to buy additional equipments (Eureka 1).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The only requirement is a telephone line and you will be good to go. The ERI web on the other hand works pretty similar with the ERI terminal just that in this case, one will require a computer with internet connectivity to enjoy this service Comparing epay.com and emida. Net, it is clear that emida is stronger than its counterpart. This is not only in terms of the number of years that this company has been in existence but also the robust network that it has managed to establish ad the numerous reliable partners that this company has. In addition, this company has managed to penetrate in more markets than epay thus making emida stronger in terms of popularity and client base. Prepaid wireless industry has without a doubt grown tremendously the world over. Works Cited Emida. Prepaid Wireless. 2011. Web. https://www.emida.net/en/home/ Epay. Welcome to Epay. 2011. Web. http://epayworldwide.com/en-US/ Eureka. ERI helps retail stores increase their revenue and foot traffic through prepa idwireless solutions. 2011. Web. This research paper on Prepaid Wireless Industry was written and submitted by user Rylee Sears to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

The Effect of Different Substances on the Freezing Point of Water Ess

The Effect of Different Substances on the Freezing Point of Water Ess The Effect of Different Substances on the Freezing Point of Water Period 4 January 19, 2012 The Effect of Different Substances on the Freezing Point of Water Introduction Water is essential for all life on Earth and covers 70% of the Earth surface. Water is a chemical substance composed of two hydrogen atoms bonded to one oxygen atom. Its chemical formula is H2O. Pure water is transparent, colorless and odorless. Water is mostly seen as liquid. However water can be found in all three states of liquid, solid, and gas depending on the temperature. At room temperature, water is a liquid. But it becomes solid (ice) when the temperature drops to 0oC or it turns into gas when the temperature rises to 100oC. The reason water changes its state is molecules have energy. Water molecules in a liquid form have more energy than in a solid form. They move around quickly. When the liquid cools down, water molecules slow down their movement and the energy is reduced. When the water temperature reaches around 0oC, the molecules almost do not move and stick together to form a solid ice (Manahan, 2010). When water and ice are in contact with each other, two things happen that (1) ice molecules escape into the water (melting) and (2) water molecules are captured on the ice surface (freezing). When the rate of freezing is the same as the rate of melting, the amount of water and the amount of ice do not change. The ice and water are said to be in dynamic equilibrium. The balance point between freezing and melting of the two states of water is at 0oC (Wolf, 2010). But this balance between freezing and melting can easily be disrupt when either water or ice changes conditions. Baking soda, better known to chemists as bicarbonate of soda, sodium bicarbonate, sodium hydrogen carbonate, or sodium acid carbonate, is a chemical compound with a chemical formula of NaHCO3. Baking soda is a white solid and often appears as a fine powder with crystalline grains. Baking soda can form naturally. However, most baking soda sold in stores are man-made by combining carbon dioxide (an odorless gas) and soda ash (extract from sources like a mineral called trona and ashes of certain plants). As baking soda is formed by combining an acid (carbonic) and sodium hydroxide, it reacts with other chemicals as a mild alkali. Therefore, when it is mixed with acid, baking soda neutralizes the acid, breaks down proteins, and gives off carbon dioxide gas (commonly seen as bubbles) (Zukowski, 2009). Because of its chemical and physical properties, baking soda is used for a wide range of applications such as baking, cleaning, deodorizing, buffering, and fire extinguishing. Salt is a mineral composed primarily of sodium chloride (NaCl), a chemical compound belonging to the larger class of ionic salts. Salt is in a crystalline form but varies in color from colorless when it is pure to white, gray or brownish due to other natural mineral elements within the crystal. Salt is formed naturally and can be found everywhere in the world like underground and sea. There are many different types of salts. Salt is not only essential for human and animal lives but also often used to assist in various manufacturing and productions like textile dyeing, soap making and pottery production (Roman et al, 2011). When a substance like baking soda or salt is put into water, it is dissolved in the water. This is because the polarity of water molecules can attract the polar ionic compounds and separate the molecules of other substances. In this process, scientists term the substance to be dissolved as a solute and refer the water as the solvent the one that does the dissolving. The formed mixture is called a solution (Amora and Chu, 2010). Research has found that the freezing point of a solution is lower than 0oC, the freezing point of the pure water. This is because the added solute disrupts the equilibrium of the water states of liquid and solid. There are fewer water molecules in the solution as some of the water has been replaced by the solute (Senese, 2010). This means that the number of water molecules able to be captured by

Cover Letter Sample Applying for Editorial Assistant Job

Cover Letter Sample Applying for Editorial Assistant Job SAT / ACT Prep Online Guides and Tips Not everyone applying for a job has years of professional experience behind them. This next sample cover letter's geared toward an entry-level position in the publishing industry. The applicant has had a relevant internship, plus a summer jobat her local bookstore. In lieu of more extensiveexperience, she makes sure her enthusiasm for the position and company shines through. Read on to see how the writer shows her passion for publishing, and then check out theanalysis below of what this cover letter does well. Cover Letter Sample: Editorial Assistant MaryEntel E. 15th St.New York, NY 230 May 1, 2016 Rita BookmanEditor-in-ChiefCooper Books Publishing House74 Reading StreetNew York, New York 10020 Dear Ms. Bookman, I was pleased to find your posting for an Editorial Assistant with Coffeehouse Books on MediaBistro.com. As an English literature major with a passion for the written word, I am committed to working in the publishing industry following graduation. I’m especially excited about your publishing company because you represent two of my favorite authors, Tim Smith and Anne Lee. I'm confident that I have the skills and experiences to add substantial contributions to Coffeehouse Books. Last fall, I gained practical experience in the publishing industry as an intern at Dharma Publishing House. I collaborated with members of the editorial staff on projects that included reading and reporting on manuscript submissions, editing promotional materials, and completing fact checks. In particular, I edited three social science works to publication-ready state using Chicago Manual of Style guidelines. My knowledge of grammar and style would allow me to step right into editorial work as an Editorial Assistant with your company. Beyond my editorial experience, I would also bring a rich knowledge of literature. I studied English at NYU, maintaining a 3.8 GPA, and worked at my local bookstore during the summers. At the bookstore, I helped customers discover contemporary works - The Orphan Master’s Son and Swamplandia are two favorites - and organized events for speakers and book signings. Between my studies and work, I immersed myself in the world of fiction and nonfiction. My passion for reading underlies my commitment to this work, and I have the organizational and communication skills, along with the attention to detail, to excel in every aspect of the Editorial Assistant role. My life has been shaped by the written word, and I would be thrilled to contribute to Coffeehouse Books in the role of Editorial Assistant. I would welcome the opportunity to interview and can be reachedanytime at (555) 555-5555 or mary.entel@gmail.com. Thank you very much for your consideration. Sincerely, Mary Entel MaryEntel While Mary hasn't worked in publishing before, she's spent a lot of time around books working in her local bookstore. Editorial Assistant Cover Letter: The Breakdown In hercover letter for the position of Editorial Assistant, Maryexpresses herenthusiasm for the position. She shows that she has the skills - editorial, organization, communication - to do well in the role, and infuses herentire letter with a sense of excitement about working in the publishing industry. In herintroduction, Maryshows that she has some familiary with Coffeehouse Books, stating that the companyrepresents two of herfavorite authors. She describes herexperiences as an editorial intern, as well as herknowledge of literature as an English major and summer employee of herlocal bookstore. Maryends by restating her excitement about the position withCoffeehouse Books. After reading herletter, hopefully Editor-in-Chief Rita Bookman will be happy to engage with Mary in conversation about the Editorial Assistant position. In addition to the content of Mary's letter, let's take a closer look at its overall presentation. A Note on Format As you can see in the letter above, Maryformats her cover letter in a traditional way. She includes her name and address at the top, followed by the date and name and information of the hiring manager. This is a great approach if you're sending your cover letter by hard copy or as a Word attachment. For a lot of jobs, though, it's fine or even preferred to send your cover letter right in the body of an email. Still other jobs use their own application portal and want you to paste your information into a text box. In the latter two cases (body of the email and text box), it's usually fine to leave out all these headers. You can just start right in by addressing the hiring manager. Make sure you understand how to send your application materials and format your cover letter accordingly! What's Next? On to the next cover letter! Check out this cover letter sample for the position of Assistant Restaurant Manager. Care to read more samples? Head over to our full cover letter guide with six sample letters and tips for how to write a great one. Are you writing your own cover letter for a job application? Check out our great cover template to help you through the writing process, step by step.

Direct Marketing Communications Campaign in Easy Jet Case Study

Direct Marketing Communications Campaign in Easy Jet - Case Study Example Internal communication in an organization is the stepping stone that enables a cordial communication between the company and the outsiders. (Littlejohn, 2002, P. 30) A communication campaign is a well defined communication strategy that helps an organization to communicate with the customers. It is a strategy for internal and external communication within the organization. A communication campaign represents well arranged interacted strategies which are aimed at delivering a certain message to the customers and which is important for effective relationship in an organization. (Werner 1998, P. 72) There are various communication campaigns that are used in the market by different organization. An organization can use one specific communication campaign or it can integrate number of campaigns with an aim of delivering its core message home to the target audience. The kind of communication campaign that is used by a company depends on the target audience and the kind of message that an organization wants to deliver. (Dempsey 1997, P. 7) In this paper we will be reviewing how easyJet, which is one of the prosperous low cost airline in the UK has been using internet tools as direct marketing communication campaign in the market. We will review what the company has achieved and review the areas that it needs to improve. The company was founded by Sir Stelios Haji-loa... The Airline is based at Hangar 89 which is a bright orange building next to the taxiway at Luton airport. This represent the simplicity way that the company has been using for its operation which is not only reflected in it headquarter but also in the pricing strategies that that company has adopted. Since it was started the company has been keeping the policy of low cost operation and has been eliminating unnecessary cost and frills which has been characterizing the traditional airlines. This has been achieved through a number of ways. One of those ways has been the maximization in the utilization of the substantial assets which has reduced the unit cost of the airline. It has also taken the policy of not providing free lunch on the airport. It has kept to the efficient use of the airports. But its main source of success in keeping the cost of operation low has been the policies that the company has taken towards the use of internet and paperless operations which have been enabled by the direct marketing campaign through the use of internet tool. (easyJet.com, 2008b) Use of internet communication campaign in EasyJet Easy jet was one of the first airlines in the UK to embrace the use of the internet when sold the seat online in 1998. Since then the company has not looked backward in its internet campaign and currently online marketing accounts for more than 95% of all its sales. This makes the company to the one of the leading internet retailers in the Europe. EasyJet has become one of the leading airlines in Europe which have banked on the use of the internet for their success. The company has adopted an e-commerce strategy which has been the main tool of communication with the consumers. In this regard the internet has become the main

Criminal Law - newspaper articles Assignment Example | Topics and Well Written Essays - 2000 words

Criminal Law - newspaper articles - Assignment Example The overall purpose is to reach a conclusion on the accuracy of press reports that touch on legal matters while pointing out various reasons for inaccuracies that occur. Under the UK rules, fraud by false representation refers to a situation where a person makes a false representation either by intent or being dishonest in the process for personal gains. A representation is defined as being false if the person making it knows that it is true and misleading. In other case, fraud may be by a person failing to disclose information by intent through dishonest means for personal gains. The other part is fraud by abuse of position in which the person involved misuses his position for his personal gain. In the article, James Stevenson has pleaded guilty of an account of fraud in the IT firm where he worked by adding nectar points to his card which he later used to purchase things and access services. The judge also refers to him as having used his office to represent himself falsely. In the case that is presented in the article, James Stevens is guilty of one account of fraud namely fraud by abuse of position. Stevens used his position where he had access to all the activities that involve the use of cards, which was run by a third party, to benefit from services that were being offered by use of the card. This is evidenced by the amount of items that he purchased using the card despite his denial of the figures that have been presented in court. The reporting was not accurately done because in the article, an impression is created that Stevens was sent to jail because of having just added the amount of nectar points to his card. This scenario points out the inaccuracies in the reporting of legal affairs. PC Jamie Hillman who stole over  £70,000 from banks in loans to fund an extra marital affair walked out of court freely as the judge declared him of being emotionally fragile. The Bristol court

Interpersonal Essay Example for Free

Interpersonal Essay In this new school year, I come to the HKBU College of international education for studying. I find my first new friend in here, a girl who called Evelyn. And my topic of this reflective paper is about the relationship between my new friend Evelyn and me. I met Evelyn on 17th September, my first school day in CIE. I remembered that was Evelyn says hi to me first and she sit next to me. This situation really applies the self-fulfilling prophecy I learnt in my IPC lesson. It is because I have asked Evelyn that why she would chose to say hi to me but not the others. She answers that it is because she predicts me is friendly at first. Then she acted as if I was a friendly person. As she acts toward me, I become comfortable and friendly. At the end, she observes my friendliness, and this reinforces her belief that I am in fact friendly. In the result, we really become friend. Also, I think our relationship is dyadic consciousness. It means that we are two persons think of ourselves as pair. Our relationship becomes more involved, individuals sacrifice our own desires for the well-being of the relationship. For example, Evelyn can give up her time to help me do the photocopy and she is willing to share her notes with me. Our relationship really not developed on the benefit or goal. This new relationship between Evelyn and me can also apply the Johari Window Model. In these past few months, I found that my open self which is known to Evelyn become larger and larger. At the very beginning, she only knows what my name is and where I live, or how many family members I have. And now, Evelyn already knows that which my favourite music group is. Also know that I hate chocolate but love mango. Moreover, she knows that I am good at Chinese Dance and I am a rowing club member. Evelyn can also find the blind self of me. It is I am really good at giving comfort to my friends and I will tell many principle of life to friends. Besides of the above, Evelyn and I have really different personalities. She always tell me that my acting really like a mother or elder sister. It is because I will help her solve the problems, remind her which things she need to do. Therefore, I think it can apply the parent self on me and apply the child self on Evelyn. I always give the direct responses to Evelyn and sometimes I will be critical. However, we can have a complementary transaction through our communication. Evelyn will seek help from me, and then I will help her solve it or give some suggestions. Both of us are satisfied. In our every conversation, the nonverbal communication is always applied on it. We will use the emblems such as the sign. And the S-O-F-T-E-N formula is always applied in our communication too. I will come to school with Evelyn every Tuesday, Wednesday and Thursday. We set the meeting place at Tai Wai Station. Every time when Evelyn saw me, she gave me a big smile first. Then I will see her run to me from far away. When we start our topic, Evelyn always show her interest to listen and she always look at my eyes. And sometimes she will nod her head. It really makes me feel that she is listening to me and it will not make her feel bored. To me, Evelyn is a really good listener. All the thing she will do is listening but not hearing. We will use the Whatspp or phone call to communicate when we are not staying together. If she has something want to tell me, she will give me a feedforward message first. Most of the time she will send a message to me like â€Å"Kata, I have some interesting thing want to tell you. I will tell you on the train at tomorrow.† Actually the things she wants to tell me are not really important or serious. Maybe she will just tell me that she saw a handsome guy on the street yesterday, she always love to give a feedforward message to me first. During the communication, we can both get the feedback from the others and we will share our opinions. However, the interpersonal communication concept I can mostly applied in our communication is the Gender Communication. It is because our range of talking topic is really large. I remembered that there is a day I go shopping with Evelyn and a friend who is a boy. The topics we talked are jumping and jumping. We discuss at the clothes first, and then when I saw the yogurt, we change the topic to food suddenly. If I have a phone call, I still can listen to Evelyn then catch up the conversation after I finished the call. It really shows that women are multitrack, we can talk about several subjects at the same time. But our boy friend becomes confused from our conversation. Therefore, he will let us keep our talking continue. If he has any question from our conversation, he will ask us. Up to now, I think the relationship between Evelyn and me is developed quite well. Everything is good, at least we still not yet have conflict. And I will find some method to prevent the conflict happen in the future. I will have both empathic, objective and active listening from every conversation with Evelyn. Keep using the S-O-F-T-E-N formula with my friend every day. Also, I will try my best to apply more Adult self but not the Parent self. I will keep my Parent and Child under control. It is because we are symmetrical relationship. I wish we can be more factual, gather information, analytical and reasoning, objective and look for practical solutions. We should have more thinking and behave calm. Therefore, our relationship can be better and keep longer.

The Catcher In The Rye :: essays research papers

The Catcher in the Rye By J.D. Salinger The Catcher in the Rye was an interesting and controversial book. I chose to read the book because of the negative status it has with parents, teachers, and school. I wanted to discover what the roots of this controversy are.   Ã‚  Ã‚  Ã‚  Ã‚  The main character who narrates throughout the book, Holden Caulfield, tells about his life before and after he is kicked from Pencey Prep. At Pencey, the only subject he got a decent grade in was English, all others he failed and didn’t show up to regularly. The meat of the book consists mainly of what Holden does and thinks after he leaves Pencey. His internal conflict after leaving is what his parents will think when they find out he had been kicked from another college. The title of the book portrays the best idea of what Holden wants to do with his life. He imagines a group of children playing in a rye field that’s adjacent to a cliff. He described himself to his sister as the person that would catch the kids if they ever got near the edge.   Ã‚  Ã‚  Ã‚  Ã‚  This book was truly enjoyable to read, to see Holden’s strange and peculiar outlook on life. He had very distinct things that he hated and liked. For example, the only kind of books he enjoyed were books written by his brother, who wrote short stories. In many parts of the book, he is remembering a girl he once went out with or liked at one time. In one instance he called a girl he had the number of in the middle of the night from a drab hotel room. I think he did this solely to hear a girl’s voice.   Ã‚  Ã‚  Ã‚  Ã‚  The controversy that has arisen from this book also became clear after reading it. Holden has an overall negative attitude about everything and the way he lives his life. Also, his being kicked from colleges numerous times doesn’t set a good example either.   Ã‚  Ã‚  Ã‚  Ã‚  This novel by J.D. Salinger about a troubled teen is one that’s controversial and fun to read at the same time.

Persuasive Essay: Should public schools implement a school uniforms Essay

The issue of implementing a school uniforms is a controversial and lingering subject facing many of the school systems in the United States. Many people see that numerous problems exists within the public school system and they think that school uniform would be a good solution these problems. School uniform is a positive concept in public school because of many advantages such as, a cost savings by eliminating name brand clothing, student security, school spirit and simpler daily school preparation. First of all, uniforms can remove the distraction of symbols that reflect students social status, provide relief from competition for fashion and peer pressure and create equality between more and less wealthy students. In schools without uniforms students always worry about their appearance; those without expensive designer clothes may become outcasts. Many students feel that they are judges by other students, teachers and administrators according to what they wear. Additionally, parents usually support uniform because of its cost. The use of school uniforms is more affordable to families because there is not as much pressure to buy expensive, trendy clothing. Some people say a school uniform is expensive, especially the one in a good quality. But buying different clothes for everyday and season in a long run will be more expensive that buying a uniform which can last longer and, in some cases, can be worn throughout the year. For these reasons, school administrators and parents support this type of dressing code in schools. Moreover, studies have shown that in certain public schools 80% of girls and 62% of boys actually liked the uniforms. Furthermore, school uniforms can significantly reduce violence and discipline problems while motivating students to learn. In many cases, students clothes have been linked to the causes of violence. For example, in Detroit, an 18 year old was shot and killed for his parka and Nike sneakers worth $70 and in a six month period, four Chicago youths were killed for warm-up jackets valued between $900 and $200. In 1995, the school in Long Beach, CA made it mandatory for students to wear uniforms. In 1999, the statistics from these schools have shown that the crime rate dropped by 91%, school suspensions dropped by 90%, sex offenses were reduced by 96% and incidents of vandalism went down by 69%. Also, nine years after implementing school uniforms in one  of the schools in Maryland, the schools principal said that attendance and test scores have increased, suspensions and fights have decreased and students were more focused. Students who wear school uniforms behave more appropriately in the school environment more likely to follow school rules. As the research in school has shown, the mandatory use of standardized dress reduces violence within the school. Every morning, the teenager wakes up and starts thinking about which clothes to wear. School uniforms would save students as well as parents time. Kids in the morning would not have to make up their minds on what to wear. There is less distraction due to uniforms. They set a more serious tone in the classroom that is favorable for learning and can improve student performance. Also, by getting rid of the extra time choosing clothes, students are able to sleep and study more. As a result, students grades will rise. Some say that a child in a school uniform is more likely to take school seriously. Putting on the school uniform signals he or she is going to school just like dad dresses up to go to work. Schools report that when students dress in â€Å"work clothes† rather than â€Å"play clothes† they take a more serious approach to their studies. Even though some people might say that school uniforms interfere with the students right for self-expression, dont prevent violence and place additional economical burden on parents, the pros still outweigh cons. The studies and reports from various schools in the country proved that uniforms can improve discipline and promote the students interest in learning. Uniforms provide students with school uniqueness. Students will stand out in field trips and other school activities feeling a sense of belonging and team unity. The agreement between students will elevate their morale and self-esteem. Students that are together lead to a school that is united. â€Æ'Works Cited Manual on School Uniforms. US Department of Education 29 Feb. 1996. 16 Nov. 2008 . Pro School Uniforms Speech. Onpapers.com 04 Nov. 2008. 16 Nov. 2008 . Public School Uniform Debate. Education Bug 16 Nov. 2008 . Public School Uniform Statistics. Education Bug 16 Nov. 2008 . Reasons to Support School Uniforms. Onpapers.com 25 Jul. 2008. 16 Nov. 2008 . School Uniform. International Debate Education Association 01 Nov. 2000. 12 Nov. 2008 .

Jp Morgan& Chase Annual Report

JPMorgan and Chase 2011 Financial Analysis Abbiton Mumba , Bomboma Douti, Thuy Doan, Tracy Nguyen [Type the company address] General Information: JPMorgan Chase (NYSE: JPM) is one of the oldest financial institutions in the United States with a history dating back over 200 years. JPMorgan and Chase is basically included Chase- the U. S. consumer and commercial banking businesses serve customers under the Chase brand. The consumer businesses include: Branch, ATM, telephone and  online banking, Credit cards, Small business, Home finance and  home equity loans, Auto finance, Education finance, Retirement & Investing, Retail Checking.The commercial banking businesses include: Middle Market, Corporate Client Banking, Commercial Real Estate, Business Credit, Equipment Finance, Commercial Term Lending, Community Development. – and JPMorgan which is J. P. Morgan clients include the world's most prominent corporations, governments, wealthy individuals and institutional investors. T hese businesses use the  J. P. Morgan brand: Investment Bank, Asset Management, Treasury Services, Worldwide Securities Services, Private Banking, Private Client Services, One Equity Partners.The corporate headquarters are in  270 Park Avenue,  Midtown,  Manhattan, New York City, New York, and the  retail  and  commercial bank  is headquartered in  Chase Tower,  Chicago Loop,  Chicago, Illinois, United States. The biggest event recently that JPMorgan anticipating in is acquisition of Washington Mutual in 2008. JPMorgan Chase raised $10  billion in a stock sale to cover write-downs and losses after taking on deposits and branches of Washington Mutual  Through the acquisition, JPMorgan now owns the former accounts of  Providian Financial, a credit card issuer Washington Mutual acquired in 2005.The company announced plans to complete the rebranding of Washington Mutual branches to Chase by late 2009. JPMorgan and Chase has the fiscal year end Dec 31. Interne t Information: The internet address of the corporation is www. jpmorgan. com. The website provides broad information. The most important section is the â€Å"Investor relation† section. We can find Financial Information including annual report/ proxy statements, SEC filing, earning release, credit releases, Investor presentations , shareholder information including stock price history.The purpose of website is describe the corporation, provide customer service information, promote the industry the corporate in, provide employment information, publicize corporate citizenship. The annual reports and other different reports can be found in the government website www. sec. gov. The primary Standard Classification (SIC) is 6021 6029 6712 and the Central Index Key (CIK) number assigned to corporations that file with the SEC is 19617. The latest form 10-K is dated February, 29th, 2012. Basically, JPMorgan and Chase have a moderate change in the price of the common stock over the las t two years.The biggest downward slope is between September 2011 to December 2011 and then it continues to be upward sloping. This fall price considers a narrow price range. Income Statement Compared to last year, Revenue growth decreased by -5. 3168%. A decreased of $5,460,000,000. The decline in net revenue from 2010 was driven by lower net interest income, securities gains, mortgage fees related income, and principal transactions revenue, partially offset by higher asset management, administration and commission revenue and higher other income.The increase in noninterest expense was driven largely by higher compensation expense, reflecting increased headcount. Despite the fact that the revenue lost than last year, over the last 5 year the company experienced the increased revenue due to net inflows to products with higher margins, higher deposit and loan balances, and the effect of higher average market levels. Growth in Revenue decreases than last year but Growth in profit incre ases by 9. 2458%. Although the Net Revenue of the current year is less than last year but Pre-provision profit on 2010 decreases from $16,639,000,000 to $7,574,000,000.That reason makes Growth in profit during the current year increased by 9. 2458%. Common-size Analysis: | Current Year| Previous Year| Revenue| 100%| 100%| Non-interest Expense| 64. 70%| 59. 59%| Interest Expense| 13. 99%| 12. 45%| Income Tax Expense| 7. 99%| 7. 29%| Income from continuing operations| 27. 51%| 24. 21%| Net Income| 19. 52%| 16. 91%| In general chase’s total non-interest expenses in 2011 rose 5. 11% higher than the total non-interest expense in 2010. The net income in 2010 seems lower than 2011 due to less operating and investment activities in 2010.Apart the item labeled other expenses and amortization of intangibles; all the other expenses were slightly higher. The increase in non-interest expense was driven largely by higher compensation expense reflecting headcount. The operating cost as part of the non-interest expense was definitely higher compared to 2010. The higher headcount visibly explains this increase. The provision for credit lost was 8. 41% lower than the 2010 provision. This was due to the amelioration of collection from customers. Consumer business modestly improved and mortgage net charge-offs and delinquencies improved.It is probably included in the item â€Å"other expenses† which were lower than 2010 but 6. 38% higher than 2009. Tax Burden: The total revenue in 2011 was 5. 62% lower than the revenue in 2011 but the bottom line was a lot higher than the previous year (2. 61%). The tax burden became consequently higher than the previous year; actually about 0. 7%. The increase in the tax burden due to the higher income in 2011 was definitely the result of the lower provision in credit loss in 2011. The provision in 2010 was about twice the provision in 2011, because of the lower interest revenue.Profitability in 2011 was better than the one in 2010 . As a percentage of total revenue, net income was 2. 61% higher than the one in 2010. Net income in 2011 was by itself 9. 2 % higher than the one in 2010. This was again the result of the lower provision for credit losses. The consumer portfolio also improved. The decline in 2010 was driven by lower net interest income, security gains, mortgage fees and related income. The other-than-temporary impairment losses are included in securities gains for the periods presented was $27million in 2011 and $94 million in 2010. Balance sheet JPMorgan Chase ; Co. s one of the oldest, largest and best-known financial institutions in the world. The firm's legacy dates back to 1799 and operates in more than 50 countries. JPMorgan and Chase is proved to be a mature firm with higher capital and liquidity. The Total Assets on the balance sheet grew $148,187 million, year ending Dec 31, 2011 from previous year ending Dec 31 2010 representing a percentage of 0. 07. The change in Assets were partly due to the acquisition of RBS Sempra on July 1, 2010 and the transaction in 2011 of RBS Sempra which is a commodities’ global oil, global metals and European power and gas businesses.This acquisition almost doubled the number of clients the firm’s commodities’ business can serve and has enabled the firm to offer clients more products in more regions of the world. J. P Morgan Chase completed purchase of the remaining interest in High bridge, which resulted in $228 million Capital surplus. Missing Common size analysis Cash Flow Statement: The cash flows resulting from operation activities in 2010 and 2011 were -$3752 million and $95,932 million. The cash flow resulting from investing activities in 2010 and 2011 was $54,002 million and -$170,752.The cash flow resulting from financing activities in 2010 and 2011was -$49,217 million and $107,706 million. There was a significant increasing in cash $ 32,035 in 2011 and a little $1,361 million in 2010. The beginning in cash balance was $27,567 million and $26,206 million respectively in 2011 and 2010. The ending cash balance in 2011 and 2010 were $59,602 million and $27,567 million. There were three significant sources of cash which were from a hug number of net change in deposit, proceeds from long-term borrowings and trust preferred capital debt securities and from net earnings and sell securities.The three most significant uses of cash were taken from acquisition of businesses or dispositions, purchase securities and loans out and proceed from sales, securitizations and pay downs of loans held-for-sale and net change in trading assets. Based on a comparison of the income statement to the statement of the cash flows, depreciation and amortization in intangible was add back to statement of cash flow and other-than-temporary impairment losses are included in securities gains for the periods presented, caused the greatest differences net income ( loss) and the cash flow from operation. Statement of cha nges in Stockholders’ Equity:The number of common shares outstanding has decreased over 3 years. On March 18, 2011, the Board of Directors approved a $15. 0 billion common equity (i. e. , common stock and warrants) repurchase program, of which $8. 95 billion was authorized for repurchase in 2011. The $15. 0 billion repurchase program superseded a $10. 0 billion repurchase program approved in 2007. During 2011 and 2010, the Firm repurchased (on a trade-date basis) an aggregate of 240 million and 78 million shares of common stock and warrants, for $8. 95 billion and $3. 0 billion, at an average price per unit of $37. 35 and $38. 9, respectively. The Firm did not repurchase any of the warrants during 2010, and did not repurchase any shares of its common stock or warrants during 2009. As of December  31, 2011, approximately 408 million unissued shares of common stock were reserved for issuance under various employee incentive, compensation, option and stock purchase plans, dire ctor compensation plans, and the warrants sold by the U. S. Treasury. Retained Earnings: fixed Dec 31 2011 Dec 31 2010 Beginning Retained earnings (2008) $54,013,000,000 Net Income $944. 00, 000 $1,001,000,000 Ending Retained Earnings $88,315,000,000 $73,998,000,000 From the number above we can conclude that Retained earnings increased in 2008 to $88,315,000,000 from $73,998,000,000 in 2010. Notes and supporting schedules to the financial statements. Cash and cash equivalents: the corporation define their cash equivalents by fund invested in US, T-bills, money market account, demand deposits or small-denomination time deposit and other investment with a maturity of 3 months or less when purchase.Account receivable: The corporation has the gross Account Receivable of $89,087 million current year and $102,413 million in 2010 reflects to 30. 9% and 31. 5% percentage of uncollectible. The lower the ratio the better, JPMorgan and Chase’s percentage uncollectible for 2011 is slight ly better than 2010. The results of the receivable turnover in 2011 and 2010 were 1. 48 times and 2. 69 times respectively. The higher the turnover is the better. However, the current year 2011 is lower than the previous year 2010.This is the result of the higher revenue in 2010. Inventories: N/A Property and Depreciation: The Corporation classified its property, plant and equipment into five categories: land, buildings, leasehold improvements, furniture and fixtures, hardware and software. JPMorgan Chase computes depreciation using the straight-line method over the estimated useful life of an asset. For leasehold improvements, the Firm uses the straight-line method computed over the lesser of the remaining term of the leased facility or the estimated useful life of the leased asset.None of the assets were recognized as impaired during the current year. The Accumulated Depreciation increased from $13,355,000,000 of last year to $14,041,000,000 of current year. Despite the land or co nstruction in progress, percentage of Fixed Asset Depreciation was approximately 23. 17% last year and 23. 26 % this year. For the percentage of fixed asset depreciation do not included land and construction in progress, there is slightly increased from last year to this year. The increase in premise and equipment was predominantly due to renovation of J.P Morgan Chase’s headquarters in New York City, the purchase of a building in London, retail branch expansion in the US, and investment in technology hardware and software, as well as other equipment. The increase was particularly offset by depreciation and amortization. This implies that in the future the company will spend more money on replacing the old equipment and that means it impacts on the capital expenditure on their financial statement. However, the company applies on the fixed asset turnover to generate revenue. The ratios are 7. 50 times last year and 7. 0 this year Operating and Capitalized leases: JP Morgan Cha se hasn’t declared any capitalized leases in the 2011 10K. We do have a section devoted to operating leases. Obligation associated with operating leases in 2011was $2,228 million, and expense associated with operating leases in the current year is $1,825 million. Payment for operating leases next year is $1,753 million. Long term debt: JPMorgan Chase issues long-term debt denominated in various currencies, although predominantly U. S. dollars, with both fixed and variable interest rates.Included in senior and subordinated debt below are various equity-linked or other indexed instruments, which the Firm has elected to measure at fair value. Changes in fair value are recorded in principal transactions revenue in the Consolidated Statements of Income. The following table is a summary of long-term debt carrying values (including unamortized original issue discount, valuation adjustments and fair value adjustments, where applicable) by remaining contractual maturity as of December 31, 2011. Most debts were JPMorgan Chase Capital.The five largest debt were JPMorgan Chase Capital X $1,016 million in amount with the rate of 7%, JPMorgan Chase Capital XXV $2,292 million in amount with the rate of 6. 8% rate, JPMorgan Chase Capitals XXVI $1,815 million in amount with the rate of 8. 0% , JPMorgan Chase Capitals XXVIII $1,500 million in amount with the rate of 7. 2%, JPMorgan Chase Capitals XXIX $1,500 million in amount with the rate of 6. 7%. Those debts aren’t due until next 30 years. JPMorgan and Chase don’t have any significant debt payment outstanding.Pension Plans: JPMorgan and Chase recognize in its statement of financial position the funded status of a benefit plan; measure defined benefit plan assets and obligations as of the end of the employer’s fiscal year (with limited exceptions) and recognize as a component of other comprehensive income, net of tax, the gains or losses and prior service costs or credits that arise but are not rec ognized as components of net periodic benefit costs pursuant to prior existing guidance. JPMorgan and Chase don’t have Defined Contribution Pension expense but Defined Benefit Pension with the expense of 11,808 billion.Defined benefit obligation in the current year: $13461 millions for U. S and Non U. S plans. Fair value of the retirement plan assets at the end of the current year: At December 31, 2011 defined benefit pension plan amounts not measured at fair value included $50 million. At the end of December 2011, the accumulated defined benefit pension obligation had a balance of ($9,008) million, but in my opinion, the plan is well funded. At December 2011, the plan was said to have 2. 6 billion balance overfunded. It is clearly stated in the notes that by December 31st 2011, the U. K plan was $33 million unfunded.Amount recognized on the balance sheet related to pension: $ 1,429 million funded in the U. S, and a non-U. S balance of 160 million. The amount contributed to t he defined benefit pension plan in 2011 was 37 million for the U. S and 169 million for the Non-US. $540 million were paid to retirees in the U. S whereas 93million were paid to non U. S in 2011. Investments in the defined benefit pension fund are the Firm’s U. S. defined benefit pension plan assets are held in trust and are invested in a well-diversified portfolio of equity and fixed income securities, real estate, cash and cash equivalents, and alternative investments (e. . , hedge funds, private equity, real estate and real assets). Non-U. S. defined benefit pension plan assets are held in various trusts and are also invested in well-diversified portfolios of equity, fixed income and other securities. Assets of the Firm’s COLI policies, which are used to partially fund the U. S. OPEB plan, are held in separate accounts with an insurance company and are invested in equity and fixed income index funds. The investment policy for the Firm’s U. S. efined benefit p ension plan assets is to optimize the risk-return relationship as appropriate to the needs and goals using a global portfolio of various asset classes diversified by market segment, economic sector, and issuer. Assets are managed by a combination of internal and external investment managers. Periodically the Firm performs a comprehensive analysis on the U. S. defined benefit pension plan asset allocations, incorporating projected asset and liability data, which focuses on the short-and long-term impact of the asset allocation on cumulative pension expense, economic cost, present value of contributions and funded status.Postretirement Benefits other than Pensions: there is no expense associated with non-pension post-retirement benefit. Benefits obligation for the non-pension post-retirement benefit plan was $999 million in 2011. Fair market value of assets held for non-pension post-retirement benefits plan was 1,435 million in 2011. The plan is adequately funded. The fair market valu e of the post-retirement benefit plan has enough resources to operate. Amount recognized on the balance sheet related to the non-pension post-retirement plan was $436 million.Amount contributed to non-pension post retirement benefits during the current year is $2 million, and amount of non-pension post retirement benefits paid to retirees during the current year is $26 million. Income Taxes: The income tax expense for the current year in the income statement is $7,773 million and $1,693 million of the current year’s income tax expense has been deferred to future periods. The effective tax rate for current year is 29. 1%. There are two types of Income taxes disclosed on the notes: Gross deferred tax asset is $27,632 million and Gross deferred tax liability is $12,856 million.As the results, the Net deferred tax amount is $14,776 million. The significant activities resulted in recognition of deferred tax liabilities that are not yet due to a tax authority are depreciation and a mortization, leasing transactions, non-US transaction and others. On other hand, the significant activities led to the recognition of deferred tax assets will be utilized in the future are allowance for loan losses, employee benefits, accrued expenses and others, non-US operations, tax attribute carry forwards. Stock-Based Compensation: MISSING Segmental and Geographic Information: JPMorgan Chase & Co. JPMorgan Chase) is a financial holding company. The Company is a global financial services firm and a banking institution in the United States, with global operations. The Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management and private equity. JPMorgan Chase’s principal bank subsidiaries are JPMorgan Chase Bank, National Association, a national bank with the United States branches in 23 states, and Chase Bank USA, National Association, a national bank that is the Company’s credit card-issuing bank.The bank and non-bank subsidiaries of JPMorgan Chase operate nationally, as well as through overseas branches and subsidiaries, representative offices and subsidiary foreign banks. One of the Company’s principal operating subsidiaries in the United Kingdom is J. P. Morgan Securities Ltd. , a subsidiary of JPMorgan Chase Bank; N. A. JPMorgan Chase’s activities are organized into six business segments, as well as Corporate/Private Equity. JPMorgan Chase’s activities are organized into six business segments, as well as Corporate/Private Equity.The Company’s wholesale businesses comprise the Investment Bank (IB), Commercial Banking (CB), Treasury & Securities Services (TSS) and Asset Management (AM) segments. The Company’s consumer businesses comprise the Retail Financial Services (RFS) and Card Services & Auto (Card) segments. Contingencies: NEED TO FIX Probable Litigation: The Firm has established reserves fo r several hundred of its currently outstanding legal proceedings. The Firm accrues for potential liability arising from such proceedings when it is probable that such liability has been incurred and the amount of the loss can be reasonably estimated.The Firm evaluates its outstanding legal proceedings each quarter to assess its litigation reserves, and makes adjustments in such reserves, upwards or downwards, as appropriate, based on management’s best judgment after consultation with counsel. During the years ended December 31, 2011, 2010 and 2009, the Firm incurred $4. 9 billion, $7. 4 billion and $161 million, respectively, of litigation expense. There is no assurance that the Firm’s litigation reserves will not need to be adjusted in the future.Mortgage Foreclosure Investigations and litigation: JPMorgan Chase and four other firms have agreed to a settlement in principle (the â€Å"global settlement†) with a number of federal and state government agencies, in cluding the U. S. Department of Justice, the U. S. Department of Housing and Urban Development, the Consumer Financial Protection Bureau and the State Attorneys General, relating to the servicing and origination of mortgages. The global settlement, which is subject to the execution of a definitive agreement and court approval, calls for the Firm to, among other things: (i) make cash payments of approximately $1. billion (a portion of which will be set aside for payments to borrowers); (ii) provide approximately $500 million of refinancing relief to certain â€Å"underwater† borrowers whose loans are owned by the Firm; and (iii) provide approximately $3. 7 billion of additional relief for certain borrowers, including reductions of principal on first and second liens, payments to assist with short sales, deficiency balance waivers on past foreclosures and short sales, and forbearance assistance for unemployed homeowners. If the Firm does not meet certain targets for provision o f the refinancing or other borrower relief within certain prescribed time periods, the Firm will instead make cash payments. ) In addition, under the global settlement the Firm will be required to adhere to certain enhanced mortgage servicing standards. Overdraft Fee/Debit Posting Order Litigation: JPMorgan Chase Bank, N. A. has been named as a defendant in several purported class actions relating to its practices in posting debit card transactions to customers’ deposit accounts.Plaintiffs allege that the Firm improperly re-ordered debit card transactions from the highest amount to the lowest amount before processing these transactions in order to generate unwarranted overdraft fees. Plaintiffs contend that the Firm should have processed such transactions in the chronological order they were authorized. Plaintiffs seek the disgorgement of all overdraft fees paid to the Firm by plaintiffs since approximately 2003 as a result of the re-ordering of debit card transactions.The cl aims against the Firm have been consolidated with numerous complaints against other national banks in multi-District litigation pending in the United States District Court for the Southern District of Florida. The Firm’s motion to compel arbitration of certain plaintiffs’ claims was initially denied by the District Court. On appeal, the United States Court of Appeals for the Eleventh Circuit vacated the District Court’s order and remanded the case for reconsideration in light of a recent ruling by the United States Supreme Court in an unrelated case addressing the enforcement of an arbitration provision in a consumer product agreement.The Firm has reached an agreement in principle to settle this matter in exchange for the Firm paying $110 million and agreeing to change certain overdraft fee practices. The settlement is subject to documentation and court approval. Service Members Civil Relief Act and Housing and Economic recovery Act Investigations and litigation : multiple government officials have conducted inquiries into the Firm’s procedures related to the Service Members Civil Relief Act (â€Å"SCRA†) and the Housing and Economic Recovery Act of 2008 (â€Å"HERA†).These inquiries were prompted by the Firm’s public statements about its SCRA and HERA compliance and actions to remedy certain instances in which the Firm mistakenly charged active or recently-active military personnel mortgage interest and fees in excess of that permitted by SCRA and HERA, and in a number of instances, foreclosed on borrowers protected by SCRA and HERA. The Firm has implemented a number of procedural enhancements and controls to strengthen its SCRA and HERA compliance.In addition, an individual borrower filed a nationwide class action in United States District Court for South Carolina against the Firm alleging violations of the SCRA related to home loans. The Firm agreed to pay $27 million plus attorneys’ fees, in addition t o reimbursements previously paid by the Firm, to settle the class action. Additional borrowers were subsequently added to the class, and the Firm agreed to pay an additional $8 million into the settlement fund. The court entered a final order approving the settlement in January 2012. Reasonable Possible:The Firm believes the estimate of the aggregate range of reasonably possible losses, in excess of reserves established, for its legal proceedings is from $0 to approximately $5. 1 billion at December 31, 2011. This estimated aggregate range of reasonably possible losses is based upon currently available information for those proceedings in which the Firm is involved, taking into account the Firm’s best estimate of such losses for those cases for which such estimate can be made. For certain cases, the Firm does not believe that an estimate can currently be made.The Firm’s estimate involves significant judgment, given the varying stages of the proceedings (including the f act that many are currently in preliminary stages), the existence in many such proceedings of multiple defendants (including the Firm) whose share of liability has yet to be determined, the numerous yet-unresolved issues in many of the proceedings (including issues regarding class certification and the scope of many of the claims) and the attendant uncertainty of the various potential outcomes of such proceedings.Accordingly, the Firm’s estimate will change from time to time, and actual losses may be more than the current estimate. Auction Rate Securities Investigations and Litigation: Beginning in March 2008, several regulatory authorities initiated investigations of a number of industry participants, including the Firm, concerning possible state and federal securities law violations in connection with the sale of auction-rate securities.The market for many such securities had frozen and a significant number of auctions for those securities began to fail in February 2008. Th e Firm also faces a number of civil actions relating to the Firm’s sales of auction-rate securities, including a putative securities class action in the United States District Court for the Southern District of New York that seeks unspecified damages, and individual arbitrations and lawsuits in various forums brought by institutional and individual investors that, together, seek damages totaling approximately $50 million.The actions generally allege that the Firm and other firms manipulated the market for auction-rate securities by placing bids at auctions that affected these securities’ clearing rates or otherwise supported the auctions without properly disclosing these activities. Some actions also allege that the Firm misrepresented that auction-rate securities were short-term instruments. The lawsuits are being coordinated before the federal District Court in New York.Additionally, the Firm was named in two putative antitrust class actions. The actions allege that the Firm, along with numerous other financial institution defendants, colluded to maintain and stabilize the auction-rate securities market and then to withdraw their support for the auction-rate securities market. In January 2010, the District Court dismissed both actions. An appeal is pending in the United States Court of Appeals for the Second Circuit.Interim (Quarterly Reporting: During the current year 2011, the company’s revenue for 1st quarter is $25,221 million, 2nd quarter is $26,779 million, 3rd quarter is $23,763 million and 4th quarter is $21,471 million. There is a significant fluctuation in quarterly data because It experienced a decrease in revenues during the current year from 1st quarter to 4th quarter. Report of independent Auditors: Auditor is PricewaterhouseCoopers LLP located at 300 Madison Avenue New York, NY 10017. The auditor believes that the financial statements were presented fairly.Their opinion is stated as follow: In our opinion, the accompanying consolidated balance sheets and the related consolidated statements of income, changes in stockholders' equity and comprehensive income and cash flows present fairly, in all material respects, the financial position of JPMorgan Chase ; Co. and its subsidiaries (the â€Å"Firm†) at December 31, 2011 and 2010, and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2011, in conformity with accounting principles generally accepted in the United States of America.Also in our opinion, the Firm maintained, in all material respects, effective internal control over financial reporting as of December 31, 2011, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Report of Internal control: Management of JPMorgan Chase ; Co. (â€Å"JPMorgan Chase â€Å"or the â€Å"Firm†) is responsible for establishing and maintaining adequate internal control over financial reporting. The same authority, Management of JPMorgan Chase ; Co. â€Å"JPMorgan Chase â€Å"or the â€Å"Firm†) is responsible for maintaining adequate internal control over financial reporting. The auditor does believe that the corporation maintained adequate internal control over financial reporting. Here is their opinion: â€Å"in our opinion, the Firm maintained, in all material respects, effective internal control over financial reporting as of December 31, 2011, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Ratio Analysis Analysis of profitability: The profit margins were 16. 1% and 19. 52 % to the following 2010 and 2011 year end. The increase in profit margin due to the advantage of the allowance for losses, noninterest revenue and interest expense. Interest income and interest expense is recorded in the Consolidated Statements of Income and classified based on the nature of the underlying asset or liability. Interest income and interest expense includes the current-period interest accruals for financial instruments measured at fair value, except for financial instruments containing embedded derivatives that would be separately accounted for in accordance with U.S. GAAP absent the fair value option election; for those instruments, all changes in fair value including any interest elements, are reported in principal transactions revenue. For financial instruments that are not measured at fair value, the related interest is included within interest income or interest expense, as applicable. The corporation has the return on assets of 0. 86% in 2011 and 0. 79% in 2010. The returns on assets were significant low compare to return on stockholder’s equity of 10. 5% in 2011 and 9. 66% in 2010. In general, JPMorgan and Chase is a big corporation, but they had a tight controlled and managed very well. Therefore, their earning is improved and very stable in recent year although the economy looks doom. Earnings per share (â€Å"EPS†) is calculated under the two-class method under which all earnings (distributed and undistributed) are allocated to each class of common stock and participating securities based on their respective rights to receive dividends.JPMorgan Chase grants restricted stock and RSUs to certain employees under its stock-based compensation programs, which entitle recipients to receive non-forfeitable dividends during the vesting period on a basis equivalent to the dividends paid to holders of common stock; these unvested awards meet the definition of participating securities. Options issued under employee benefit plans that have an anti-dilutive effect are excluded from the computation of diluted EPS. EPS in 2011 was $4. 50 compare to 2010 of $ 3. 98. This increase is the result of increasing in net income in 2011 due to bet ter management.The corporation does disclose the diluted EPS with $4. 48 in 2011 and $3. 96 in 2010. Cash dividend per share in 2011 was $ 0. 94 dollar per share and $0. 36 dollar per share in 2010. Dividend payout ratio for 2010 was 16% and 35% in 2011. Price/ Earning ratio also improves between 2010 with 9. 26 times and 2011 with 9. 62 times. In the past decade, the average P/E ratio for Major Corporation has ranged from 14 to 25. JPMorgan and Chase’s P/E was below the range about 5 points. However, we can’t say that JPMorgan and Chase is no t growing.JPMorgan Corporation is huge plus with the gloomy economy right now, but this corporation still generates profitability while other corporation in the same industry is struggling. This tell us that JPMorgan is a stable for a long run. Analysis of Liquidity: JPMorgan and Chase had the current (working capital) ratio in 2011 of 1. 55:1 and 1. 71:1 in 2010. Net working capital was $964,168 million in 2011 and $932,220 in 2 010. Quick (Acid –Test) ratios were 0. 28:1 in 2011 and 0. 31:1 in 2010. The liquidity position of the corporation weakened a little in 2011.Although there was an increase in cash and receivables in 2011, there was less account receivable compared to 2010. There was also a large increase in current liabilities in 2011, because of the increase in deposit. Based on this, JP Morgan Chase should be able to meet its current obligation even though the ratio was a little down compare to the previous year of 2010. Since it is a big and sustainable corporation in the financial industry, there is rarely a change for them to have a problem with the working capital. Analysis of Solvency: Debt to total Assets in 2011 was 91. 8% and 91. 6% in 2010.There is not much difference between the debt to assets ratio showing the amount of leverage JP Morgan Chase used to finance its operations between the year 2011 and the year 2010.. The rule of thumb is to make sure that the bottom which is the a ssets is larger than the top which is the liabilities. The ratio of 91. 8% percent for the year 2011 and 91. 6% for the year 2010 at first glance would give an impression of a company which is over leveraged. This is not the case, JPMorgan Chase Debt to Assets ratio is very consistent with the banking industry standards especially banks of JPMorgan Chase size.Banks make money by lending other peoples money. It never hurts however, to bring the ratio a little lower as it would give the bank more space to maneuver should there be a financial melting in the general economy like the one experienced in 2008. Potential lenders would prefer the ratio to be as lower as much as possible because that would show that the company has more Assets than Liabilities which can help the company pay its debt when it’s due or assets that can be liquidated to pay its lenders should the company end up in liquidation. Missing Time Interest Earned Ratio Industry Competitor Comparison:A close competi tor of JPMorgan Chase is Bank of America Corporation. The difference between these large banks is that Bank of America is primarily a bank operating in other financial services while J. P. Morgan is an investment firm also operating as a bank. It has offices in more than 60 countries of the world. Both companies have relatively similar gross profit percentages; but percentages changed if we go down to income from continuing operations of both companies. As we see on the table 3, we know that the Net income from continuing operations of JP Morgan Chase is greater than Bank of America Corporation.This shows that Chase is good at managing costs on other income and expenses besides selling general and administrative and others. On the balance sheets, we both see the similar common-size on total assets of both companies. Another difference between two of them is the profitability. As we see on Table 3, profit margin of Chase bank is higher due to net income (gain) while Bank of America e xperiences a net loss. Return on asset for both companies are pretty low on last year. Return on equity for Chase bank is higher that means the shareholders earn a sufficient return on their equity investment.The major different on Profitability ratio between two companies is the dividend payout ratio which is the Bank of America is way too high. It indicates the company pays high dividends whose stock price is temporary not good. Moreover, a high dividend payout ratio can also point to a mature company with few growth opportunities. On other hand, Chase bank has low dividend payout ratio that we know Chase is a fast-growing company whose shareholders willingly forego cash dividends, because the company uses the extra money to generate higher returns and, in turn, a high stock price.As a conclusion, JP Morgan Chase is more profitable than Bank of America Corporation. Compared on the liquidity ratios, both companies meet their requirements on pay their liabilities on time. If we take down to Acid test, we easily understand Bank of America has more liquid assets available to pay its current debts. On the debt ratio, both companies’ ratios are over 0. 5 which means both companies’ assets are finances through debts. On the Time interest earned ratio, JP Morgan Chase is little bit higher which is better since Bank of America Corporation Company has more debts.Last but not least, Operational ratios are very similar and they both efficiently know how to use the assets on sales. As the whole comparison between too biggest bank firms, I think they are overall doing very well on managing their companies. Taking on to the details, JP Morgan Chase has more probability on sales. Bank of America is still doing fine but if I prefer invest on JP Morgan Chase’ stock. |   JP Morgan ;Chase |   | Bank of America Corp. |   | Income Statement Common-Size Data|   |   |   |   | Gross Profit/Sales| 92. 0%|   | 95. 6%|   | Income from Continuing O perations/Sales| 19. 5%|   | 7. %|   | Balance Sheet Common-Size Data|   |   |   |   | Current Assets/Total Assets| 19. 5%|   | 42. 5%|   | Current Liabilities/Total Assets| 71. 4%|   | 74. 1%|   | Liabilities/Total Assets| 91. 9%|   | 89. 2%|   | Equity/Total Assets| 8. 1%|   | 10. 8%|   | Profitabilty Ratios|   |   |   |   | Profit Margin| 19. 5%|   | 1. 3%|   | Return on Assets| 0. 9%|   | 0. 1%|   | Return on Equity| 10. 6%|   | 0. 7%|   | Dividend Payout Ratio| 18. 0%|   | 400. 0%|   | Liquidity Ratios|   |   |   |   | Current Ratio| 0. 62 :1|   | 0. 64:1|   | Quick Ratio| 0. 27 :1|   | 0. 2:1|   | Solvency Ratios|   |   |   |   | Debt/Total Assets| 0. 92|   | 0. 89|   | Times Interest Earned (Accrual)| 3. 00|   | 1. 12|   | Operational Ratios|   |   |   |   | Receivable Turnover| 1. 5|   | 1. 5|   | Inventory Turnover| N/A|   | N/A|   |  © 2008 William R. Pasewark|   |   |   |   | | | | | | Making Decision based on annual report Total net revenue for 2011 was $97. 2 billion, a decrease of $5. 5 billion, or 5%, from 2010. Results for 2011 were driven by lower net interest income in several businesses, lower securities gains in Corporate/Private Equity, ower mortgage fees and related income in RFS, and lower principal transactions revenue in Corporate/Private Equity. These declines were partially offset by higher asset management fees, largely in AM. Investment banking fees decreased from 2010, predominantly due to declines in equity and debt underwriting fees. The impact from lower industry-wide volumes in the second half of 2011 more than offset the Firm's record level of debt underwriting fees in the first six months of the year. Advisory fees increased for the year, reflecting higher industry-wide completed M&A volumes relative to the 2010 level. Management discussion and analysis) Revenues increased from 2009 to 2010 by 2. 25 %. The increase c ame in part from noninterest income, securities and principal transactions. The economy will be the most important factor on the banking industry in the next year. The mortgage industry is still hurting even if it shows some signs of improvement. JP Morgan showed a net profit of at 5 billion this first quarter of the year, but it is hard to predict if the total revenue at the end of the year would match the previous year’s revenues.Next year’s revenue is probably going to be in the 100-103 billion range. JP Morgan Chase’s income comes from diverse business units. The total revenues increased 2. 25% from 2009 to 2010. The increase came from asset management, the noninterest revenue, the security gains and the item marked other income. Also the reduction in the allowances for credit losses for mortgages and credit cards as a result of improved delinquency trends and lower estimated losses reflected the net revenue increase. Principal transactions revenue increased compared with 2009.This was driven by the Private Equity business, which had significant private equity gains in 2010, compared with a small loss in 2009, reflecting improvements in market conditions. Net income next year could be in the 19 to 20 billion range. In my opinion, JP Morgan chase’s assets will have a stable growth in the next few years. Despite the visible improvement in the economy, the banking industry is not likely to record rapid growth in the next few years. The recovery is still weak; investments are still lagging and so directly affecting the books of the banks. I expect the total Assets to increase a little more next year based on the mprovement in the broad United States and World economy. My belief is based on the fact that JPMorgan performed better than the average bank in 2010 and 2010 arguably the west years for any business in recent history due to the subprime mortgage melt down of the financial markets. The last few years so a high number of unemp loyment hitting 10% before starting drop later part of 2011 and the highest number of mortgage foreclosure. The mortgage industry as bottomed and the market is already healing and banks like Wellfargo are already posting stronger than expected results due to their mortgage based assets performing better than expected.JPMorgan Chase’s balance sheet looks relatively strong and do not show that it will need additional financing next few years. It has deposits in excess of $85,279,000,000 and it is sitting on cash of $59,602,000,000. JPMorgan Chase should not have a problem raising funds from the Capital market should they need additional financing based on the strength and growth of its balance sheet. The strength that JPMorgan chase has is the relative ability and strength of deposits which Chase can use to fund its business.This is one advantage banks like Lehman brothers that went under during the financial crisis may not have had. The three areas we see as the strongest aspe ct of JPMorgan Chase is high balance of deposits with the bank in the amount of 85,279,000,000 which shows the relative confidence the market in JPMorgan. Cash deposits are particularly important to banks because they use this morning to lend out for interest and other related fees. The 2011 balance show retained earnings in the amount $88,315,000,000 and retained earning $73,998,000,000 on the 2010 balance sheets respectively.This is important because it shows that JPMorgan Chase have enough resources to fund it operations and enough left over to reinvest into the business for future growth. The Debt to Total Asset ratio was 91. 8% 2011 and 91. 6% 2010 respectively showing that JPMorgan Chase has more Assets than Liabilities which should help the firm raise financing from the markets . should there be a need. This always a good indication to the investors that there investment is covered should the company goes into liquidation.One of the biggest weaknesses we identified was the re lative number of law suits and the amount funds that is being spent on settling law suits. Though the Debt income ratio is way better than most of the banks in its industry, we believe it would be helpful to bring the amount of leverage down to somewhere around . 075 % to better absorb economic shocks in the larger economy. We are very optimistic for the future of JPMorgan Chase especially as the mortgage industry bottom out and American economy continues creating jobs;we will see banks start do declare above average profits. The firm’s Stock price at 43. 4 is performing relatively better than it competitors like Bank of America at 8. 8 and Citi group at 34 indicating that investors still have confidence in the company. We would not invest in the stock of JPMorgan Chase stock at the moment even if we had money available to invest because we strongly feel that JPM Morgan already a very mature company and does not offer much potential for growth. We would instead invest in comp etitors such Capital One Corp. which is a relatively small and growing company with enough potential for growth. There stock price also now at 53 has performed better than JPMorgan Chase over the past year.

Google IPO

Google IPO Initial Public Offering for Google Inc.A start-up corporation may have its inception through privately invested funds or through procuring funds through a venture capital firm or a composite of both funding sources. Venture capital is defined as "money invested to finance a new firm" (Brealey, Myers, and Marcus, 2004, p. 368). Venture capitalists often hold seats on the company's board of directors and provide input in the composition of the senior management team that leads the company (Brealey et al., 2004, p. 369). In the chronological development of a successful company, likely there will come a time when growth opportunities and expansion plans call for more capital than can reasonably be obtained through continued investment by venture capitalists. How does a company raise the capital it needs to continue its development? One option is to sell shares in the company to the public, which is an "initial public offering (IPO)" (Brealey et al.,India Inc book launch2004, p. 370).On A pril 29, 2004, the internet search engine company Google filed a Form S-1 or registration statement with the Securities and Exchange Commission (SEC) under its chartered name of Google Inc. As news of the pending IPO spread, speculation ran rampant about the potential earnings that Google might anticipate. CNN Money reported that, "Wall Street has been eagerly anticipating a filing from Google so investors could finally get a glimpse into the company's finances (LaMonica, 2004, p. 1). In addition, the already intense competition between Google, Yahoo, and Microsoft's MSN was projected to escalate substantially as a result of Google's intent to move into the public domain.Registration, Disclosure, and Compliance IssuesA business moving toward an IPO has a number of requirements that it must meet in order to satisfy the SEC standards for issuing common stock. In order to achieve its...

A Struggle for Identity in Shutter Island by Dennis Lehane

At the beginning of Clipper Island, Dennis Lehane, Teddy Daniels considered him himself Marshal of the United States, and was sent to Shutter Island with his partner Chuck. Island) Rachel Solando, a fugitive incident. Rachel Solando is said to be a very dangerous patient who murdered her three children. She escaped her cell somewhere on the psychiatric ward and the island somehow. If Teddy and Chuck jump into the desolated island with a ferry, they will be welcomed by indifference and doubt. Mental disorders may be associated with dangerous and harmful side effects. In Dennis Lane's Shutter Island, the effects of many mental illnesses are harmful to individuals. However, there are three more harmful and long-term effects. First of all, many people with poor sleep tend to feel difficulty due to mental state. In addition, psychosis often reacts individuals violently to emotional conditions. Most importantly, flashback and distorted memory are common when people's mental state is compro mised. Shutter Island is a thriller based on a novel written by Dennis Lehane. The story took place in the 1960s on a Shos island where a mental hospital called Ashecliff was used to imprison the most horrible criminal madman. Two policemen went to the island to investigate the missing prisoners in Word B. This movie focuses on the moral value of the perspective of various people. This movie is full of suspense shots and conversations. The audience may think that two police officers are trapped in the island, but the director has created more traces for the police. Dennis Lehane 's novel Shutter Island was first selected as Columbia Pictures in 2003. The company in Colombia did not take action on that option, but sold it to Lehane, Lehane sold it to Phoenix Pictures. Phoenix hired Laeta Kalogridis. Director Martin Scorsese and actor Leonardo DiCaprio were both fascinated by this project. Production began on March 6, 2008. Shutter Island was mainly filmed in Massachusetts State, Taun ton was the place of flashback scene of World War II. The old industrial building in the Wittennton Mills Complex in Taunton is a reproduction of Dachau concentration camp. Old Medfield State Hospital in Medfield, Massachusetts is also an important place. Cory's office is on the second floor of the evening church. Light shines from the window, it looks like sunlight. The staff painted the hospital brick wall as a plywood

The Causes and Impact of the Mfecane in South Africa Essay

The Causes and Impact of the Mfecane in South Africa - Essay Example It is evidently clear from the discussion that Mfecane took place as a result of nation-building that was aggressively done by the Zulu lead by Shaka and the Ndebele of Mzilikazi. Mfecane is sometimes referred to as the war of wondering and it accompanied the rise of the Zulu people. The war was highly concentrated at Drakensberg Mountains, along the river Limpopo, and between the Kalahari Desert. This paper illustrates that there were geographical barriers that made people unable to expand towards the west-eastern part, contributing to a rise in population hence people engaged in war in order to secure land. Indian Ocean waters and the Drakensberg Mountains were the key geographical features that complicated the lives of people living in this region. Mfecane was caused by the war between the tribes of Mthethwa and Ndwandwe who were expanding their territories at the expenses of their neighbors who were weak. These led to warfare that became frequent and severe as people fought for l and. The increased inequality that was witnessed between communities and environmental crisis led to competition for natural resources and trade on South Africa leading to violent struggles for survival. There was a shortage of land and many people at that time migrated to that area because it was fertile and convenient for farming activities. The high population growth caused a lot of population pressure lead to various tribal expansions, which led to the emergence of unity amongst the Bantus that occupied that place. During the 18th century, there was the presence of the Portuguese at the east coast of Delagoa who participated in long-distance trade. There was a rise in the desire to control the trade amongst people who were in the region and as a result, the Nguni tribe launched attacks to other communities with an aim of controlling the trade. The Portuguese, on the other hand, wanted to carry out the trade with groups that were organized and had powerful leaders. The creation o f Zulu state displaced hundreds of people who fled in different directions in order to establish themselves. The Zulu nation was rapidly rising during that time, and its effect was the presence of the intensification of Mfecane war by the Shaka even though Mfecane war began way before Shaka was officially inaugurated as the chief of the Zulu. Shaka’s leadership later intensified the war because of his zealous interest in wars, and he was able to defeat other tribes. The idea of having a growing domain of terror was touted by speculators who wanted imperial military backing in order to secure future land. Cape Whites were expanded at the end of the 1st century because the whites wanted more land at the eastern side, and their expansion created a shortage of land while the population was increasing hence worsening the land issue. The three powerful groups that emerged and rose up at that time fighting each other; Zwide group was responsible for sparking the war with its rivals Sobhuza, and later Ndwandwe joined the war. Most communities had at that time spread at the countryside and moved across the frontier, dividing themselves to settle in concentrated places. Americans introduced corn through the Portuguese in Mozambique, and this significantly contributed to the communities’ settlement in the region. This is because corn ensured there was plenty of food as compared to indigenous grasses thus it was able to sustain a larger population. At the end of 18th century, the possibility of people moving from the region became limited, and the shortage of land was experienced.  Most Bantu farmers in the region had reached the margins of arable land that was at the edge of Kalahari Desert; it was also difficult to access water from this region.