Financial Distress Essay Example | Topics and Well Written Essays - 500 words

Financial Distress - Essay Example The inevitable natures of factors which interplay and caused this financial turmoil on a global scale make business decisions difficult especially in areas of retrenchment. For a university which had been in operation for 164 years since its foundation in 1845, Cornell University is not exempt from the global financial crunch. As such, strategies and efforts are being evaluated to assess the possibility of retrenchment to ensure the very survival of the organization. It is in this regard that this essay is written to explain the circumstances of the financial distress and to outline an action plan where the principles of retrenchment would be implemented in order to restore equilibrium. In the year end statement written by the president of Cornell University, David J. Skorton on July 1, 2009, he identified the following effects of the global financial crisis in Cornell University, to wit: (1) a looming budget shortfall in one of its major colleges, Ithaca; (2) a 27% reduction in endowment (â€Å"reducing base budgets across the university; drawing down uncommitted fund balances; reducing endowment spending by 15 percent; implementing a construction pause, during which we reconsidered a number of proposed new projects, and decided not to pursue over $662 million in incremental capital expenditures; implementing an external hiring pause, which preserved opportunities for current Cornell employees who lost their jobs; and responsibly reducing our workforce†) and (3) a reduction in the cost of university administration in order to focus precious resources on core activities of teaching, learning, discovery, scholarship and outreach, among others. (Cornell Univer sity, University Statements, 2009) The university applies the following principles of retrenchment: (1) Selective Retrenchment Efforts where the university will use curtailment or reduction of selective activities, functions or

Security Assessment Check For Premier Commercial Bank Essay

Security Assessment Check For Premier Commercial Bank - Essay Example In relation to the study the company which has been selected is Premier commercial bank as one of the largest asset financed bank in the region that has a broad customer base across the region. The bank deals in so many transactions and they are as outlined; depository transactions, withdrawal transactions, credit advancement services, Personal and business loan services, mortgages among others. In line with the mission statement, Premier commercial bank seeks to maintain proper custody and care of the client’s money at all times. This is done through ensuring that proper handling and correct security measures are complied with so as no to contradict our goal. Within the Bank there are certain sections that may be prone to security violation and they include: Automated Teller Machines, Mobile banking services, Internet banking, Electronic money transfers, physical building security, safety of cash in transit, Strong money room and the banking hall. All these are areas whose se curity has to be properly counterchecked at all times. The outlined areas are vulnerable and susceptible to vandalism. Recently there was an anonymous withdrawal at the ATM machines by an unknown persona that involved loss of huge amounts of money. Again many cases of theft of cash in transit to the Central bank were reported. These were also followed by sequence of fraudulent transfers of money to offshore accounts by the bank personnel. This was after a recent bank robbery scare within the branch. As a senior security analyst would be obliged to give the following recommendations so as to minimize if not put to an end to all threats to Premier Bank’s state of security. There should be a web cam at the ATM machine to keep track of all those who come to withdraw money from it. Secondly there should be proper password protection and authorization so as to minimize theft by the bank personnel who deal with electronic transfers of money within and out of the region. Thirdly, the security guards who escort money on transit should have the right facilities so as to sustain security measures. This could involve provision of car trackers that may be monitored incase the vehicle is hijacked. In this view during the escort there should also be some law enforcement like police officers who’ll maintain and propel security measures. Security assessments refer to conducting vulnerability tests and assessments tests on business or any working environment in order to keep its networks protected. This may involve physical security such as guards and use of closed circuit camera systems. A security assessment may be performed by an IT or internal security expert or through the use of hiring security firms to check for any loopholes in the current security procedures. A vulnerability check is designed in a way that enables a firm to know its potential areas of weaknesses and the information obtained may be used to enhance security. The security assessment test of Premier Commercial Bank conducted by me and the help of Securex security firm is geared to produce a conclusive report of the bank’s state of security. Investigations were carried out in all areas of the bank operations through the use of

What is the Cold War (1917-1991) Discuss its cultural, economic, Essay

What is the Cold War (1917-1991) Discuss its cultural, economic, political, religious, and social dimensions - Essay Example between the two power blocs, which led to an international power struggle with both parties vying for control and dominance, exploiting every chance for expansion anywhere in the world. This supremacy battle led to the Cold War, which was a state of military and political tension after World War II between the Western bloc and the Eastern bloc. This paper discusses how the cold war shaped the socio-political and economic landscape of the U.S. As the cold war came to dominance, most of American policies toward the rest of the world, attitudes about immigration and immigration policies began to change. â€Å"The increasing prevalence of an internationalist ideology led to the passage and implementation of the Displaced Persons Acts of 1948 and 1950, which brought more than 400,000 European refugees into the US...†( McLaughlin & Mary, 15). By the early 1960s, calls to reform U.S immigration policy had increased, majorly because of the growing strength of the civil rights movement. The focus of civil rights movement was the importance of equal treatment regardless of nationality or race; this led many to view the quota system that was in place since 1920 as backward and discriminatory. The Congress debated and eventually passed the Immigration and Naturalization Act of 1965(McLaughlin & Mary, 76).This Act greatly changed the face of the American population. The US has been involved in many wars with different objectives and results. However, one thing stands out from the wars that the U.S has been involved in, that is, the wars have served as crusades of political instruments. The only war that was exception to these objectives was the Korean and Vietnam wars. The war was a cold war-era proxy war that started in November 1955 and lasted for 20 years. The war had far-reaching consequences for the US. Many lives were lost; â€Å"†¦.US lost more than 58,000 soldiers while more than 150,000 soldiers were wounded† (Hosch, 43). These harsh consequences led the Congress to

RIBA Essay Example | Topics and Well Written Essays - 5250 words

RIBA - Essay Example The RIBA plan of work is prepared by the Royal Institute of British Architects in conjunction with other stakeholders to provide a regulatory framework for practitioners in the building and construction industry (Cross, 2013). The RIBA plan of work is widely used in the UK as the official guideline and directive indicating the best practices in the industry (Farrelly, 2014). The plan of work has been extremely efficient such that it has been benchmarked by numerous countries worldwide, modeling their building and construction industry regulatory framework on RIBA’s. RIBA has continued to update its plan of work since 1963 as times and circumstances change (Hopkirk, 2014). The latest plan of work was prepared in 2013 and represented a paradigm shift from the previous one prepared in 2007. The stages of work have essentially remained the same only that they have been categorised and labeled differently (Architecture.com, 2014). Instead of the eleven stages that were explicated b y the tasks to be conducted, the new plan of work has eight stages and eight task bars under each stage indicating the tasks to be conducted.

Analyze the Stage 3-4 transition from the perspective of Kohlberg's Essay

Analyze the Stage 3-4 transition from the perspective of Kohlberg's and Gilligan's alternative perspectives - Essay Example When one is in this stage of moral development one learns to make deals, such as when one breaks the rules, one makes a deal with the rule keeper. This stage is a more important step in moral development than the previous stage. During this stage one learns about lying, and the affects of lying, and rule breaking. One learns that just because something seems wrong, does not necessarily make it wrong. During the third stage of moral development one will learn how to be considerate, and how to assist someone when someone is in need. During this stage of moral development one should not necessarily assist someone for gratification. More that someone should receive gratification in the mere act of assisting someone else who was in need. During this stage of moral development one learns how to be considerate of someone else’s feelings, and how to respect each other, and how to live, and work with one another. This stage of moral development is important, because if one does not lea rn to respect each other, and how to work, and live near one another, one cannot possibly have accomplished the first two stages of moral development. ... When one develops social cohesion, one develops more of a sense of being. This person is much better off than someone who has only developed the first three stages of moral development. Kohlberg thinks that if one does not develop social cohesion then one is only mindful, respectful, and considerate of only those in one’s clique. During the fifth stage of moral development on develops a sense of one’s social obligations, and individual rights. During this stage of moral development one learns what one need to do, what one’s place in society is. Everyone has a place in society, and everyone has obligations to make of society. Society expects certain things of certain people, and if one does not oblige by what society expects of them, one is considered to be abnormal. Abnormal citizens are considered to be amoral-citizen. Someone who acts only the way one expects one should act, and does not do as society expects one is considered amoral, to do only what one wants to do, not what is best to do. This may be the best for the person making this decision, however, it is not necessarily right for society. Gilligan challenged Kohlberg’s philosophies that stage four of moral development was not the most imperative stage of moral development. Gilligan used an all female sample, and conducted qualitative research on what women’s views were on abortion. Gilligan analyzed the qualitative research on abortion, and applied it to the four stages of moral development, developed by Kohlberg. In applying the five stages of Kohlberg’s moral development, Gilligan decided that stage four was not better than stage three in Kohlberg’s moral development stages. Gilligan’s research could not develop a clearer understanding of

What do we learn about international strategies for protecting human Essay

What do we learn about international strategies for protecting human rights from an examination of the record of the UN in action on Terrorism - Essay Example Without diminishing this obligation, it is also the duty of the UN to protect human rights in the course of pursuing counter-terrorist activities. For this reason, the United Nations Global Counter-Terrorism Strategy has been instituted. In the 2005 Madrid Summit, then UN Secretary-General echoed the unanimous observation of international rights experts, both within and outside the UN system, that counter-terrorism measures that have been adopted to that date have all infringed on human rights and fundamental freedoms in one way or another (Foot, 2007). It was therefore determined that in the course of pursuing the counter-terrorism effort, the protection of human rights must be assured. It is the official position of the UN and its member states that these twin pursuits – counter-terrorism and the protection of human rights – are deemed complementary and that they mutually reinforce each other’s goals. The UN has committed to pursue measures to halt the violation of human rights, and to adopt counter-terrorism measures which comply fully with the obligation to protect human rights (UNACT, 2013). ... The UN has committed to pursue measures to halt the violation of human rights, and to adopt counter-terrorism measures which comply fully with the obligation to protect human rights (UNACT, 2013). The commitments provide assurances that the anti-terrorism effort shall be coupled with the observance of human rights, at least in principle. However, the robustness of this observance in practice should be ascertained by an examination of the records pertaining to the records of the committees of the UN Security Council, which are tasked with the implementation of counter-terrorist measures. In order to abide by this commitment to ensure that human rights are respected even and especially during the course of combatting terrorism, the post of Special Rapporteur was created in 2005. The Special Rapporteur shall be concerned with the promotion and protection of human rights and fundamental freedoms while undertaking counter-terrorist activities (UN General Assembly, 4 June 2012). Despite as surances in treaties and the expression of agreement in human rights conventions, there is grave concern, from accounts of victims and investigative journalism reports, that human rights are consistently being violated in the interest of stemming the rise in terrorist activities worldwide. On the one hand, the undue curtailment of human rights is a violation of the UN conventions to which member States are signatories, and should therefore be sanctions. On the other hand, fear of a repetition of attacks such as that of the World Trade Centre appears to justify this resort to violation of the rights of a few to obtain information and prevent the deaths of many. This

Legal Aspects of Contract Adminitration (LAW) Coursework

Legal Aspects of Contract Adminitration (LAW) - Coursework Example The contract becomes valid only if it fulfilled all the legal requirements. Contract is the agreement enforceable by law so that agreement may be either for tender or for acceptance. The offer become valid only if it meets the entire requirement specified in the contract law in Australia. Those are as follows, There are normally six important ingredients essential for lawfully connecting the contract development. That are (1) agreement it consists of offer and acceptances made by the parties to the contract, (2) Offer must be made for the Consideration either in terms of money, property etc., (3) ability to enter lawful relationship between the parties to the contract it means the party to the contract must possess sound mind as well as majority of age, (4) Intention by the groups to enter into lawful affiliations, (5) must fulfill the requirement of the valid contract and (6) certainty. Contract may sometimes also turn into illegal contract if it fails to fulfill the requirements. The Australian lawful scheme is based on a basic faith in the rule of  law, fairness and the autonomy of the judiciary. An offer may be broken by revocation, rejection or drop. An acceptance is, usually conversation; a whole and ineffectual assent to the complete the circumstances that include an offer. Inten tions must be understandable and extremely a great deal evident previous to creation whichever contract. In this particular case Mr. A who thinks that he had concluded an agreement through Mr. B to buy a one third interest in D pvt. Limited from Mr. But at the same time Mr. B sold the same to Mr. C. On the other hand Mr. A notifies that he thinks an agreement among Mr. A and Mr. B to but the interest had previously been arrived at as the effect of two or three emails exchanged through Mr. B. In The first mail itself Mr. A sent Mr B a draft contract prepared through the lawyer on with no prejudice base. Second mail was sent by the Mr. B to Mr. A. In this