The History of Antigua

The history of Antigua Antigua is an island where people wake up early to go to work or to school but most of the people who live there go to the market on Market Street. The name of Antigua and Barbuda’s capital is St. Johns. The language that is spoken in Antigua and Barbuda is English. The date that this country came into existence was November 1, 1981. The notable people who live in Antigua are Eric Clapton who is a guitar player, Giorgio Armani, and Ken Follett.The major landforms that are in Antigua and Barbuda are the Boom Point, the Devils Bridge and Mount Obama. There are also some major cities in Antigua such as Cedar Grove, Old Road, and Boland. The culture around Antigua is incredible. The clothes that the citizens wear have a condition to the tropical living. There are a lot of Holidays in Antigua that New Jersey doesn’t have like Good Friday, Carnival Monday, National Heroes day, and Whit.Antigua sells a lot of different kinds of foods at the market as cor n, chilies, guava, and mangos. The music in Antigua is a dabble of everything from reggae, to soca to zouk; styles are easily appreciated whether at a barbeque or playing online bingo. The kinds of religions that are in Antigua are Christians, Muslims, Hindus, and Jews. The government uses the Parliamentary System. Antigua’s population is at 89,612 and counting.The native animals that live in Antigua are the Antiguan Racer, Redonda Anole, Antiguan Ground Lizard, and the Barbuda Warbler. The name of the flag is Antigua and Barbuda. If you ever visit Antigua here are some travel tips. First, the taxes are the same as in the United States. There is 10-15% depending on the service. Second, the electricity, part of the island is 110 volts and the remainder is 220 volts. Most of the hotels have both voltages available. This has been the research of Antigua and Barbuda. Research Paper

Children Getting Parents in Trouble

Although children are a parents responsibility, parents are not constantly with their children to keep them from doing irresponsible acts. Parents can only control what their children are doing if they are in their sight. Children will often blame their parents for their actions when in reality the child is either pressured by a friend, curious, or wanting to live the â€Å"life of a teenager† and have fun. It is argued that parents should know where their children are but, children are not stupid and have many ways of working around that. They could tell their parents that they are going to go to their friends house and spend the night. The parents can only trust that their child is actually there. Then, there is a problem with parents who do not care at all about what their children do. If a child (child 1) was to spend the night at a friends house (child 2) and the parents of child 2 did not care at all about what the kids did and the kids went out to a party and got really drunk causing them to make some bad decisions, probably drunk driving, arsine, or murder. Than the parent that should have been watching the children is at partial fault. But they are not always the ones who get charged for the crime and it’s the other parents who get the blame. Parents can not help the curiosity that their children have. Children know right from wrong and know that what they are doing is not appropriate. They need to be punished for what they have done, if every child got away with crime and their parents were charged, than the child would never learn from their mistakes and think that they will be able to get away with anything and continue to commit crimes.

Analysis of selected passages from Othello by William Shakespeare Essay

When William Shakespeare made use of the stylist devices he thus tried to paint a multi-dimensional image of his perceptions that he extended in his characters till the limits of reality and belief. And to design variety in this frame of multi-dimensionality Shakespeare not only expressed through the words in the lines which the characters uttered rather the formation of the words and the lines also revealed certain patterns that could be decoded to detect even more subtle reasons and justification behind those expressions. Such flow and expertise of expressing the conceptions cannot be taught easily through the science of writing rather it required the unschooled instinctive ability like Shakespeare’s to play with the words with a unique skill of potency that can metamorphosed the words to survive as the animated version of Shakespeare’s intellect and vision even after being uttered by the characters in the play. In the following excerpts from the play ‘Othello’, there is a variety of Shakespeare’s usage of stylistic devices to arrange words in order to express the difference of thoughts, moods, intensions and beliefs of the protagonist (Othello) and also how the use of such words in a specific style cater in constructing the plot and developing the characters. Theres magic in the web of it. A sybil that had numbered in the world The sun to course two hundred compasses, In her prophetic fury sewed the work; the worms were hallowed that did break the silk, And it was dyed in mummy which the skillful Conserved the maidens hearts. These lines are from the IV scene of the Third Act of the play, and they are uttered on the grounds of misunderstanding that is set by Iago in the mind of Othello. If we observe closely these lines summarize the truth that Othello is ignorant about and the words reveal the irony that Othello has become a victim of. The use of the words like â€Å"magic† and â€Å"web† are justifiable elements of the speech of a contaminated brain and the word â€Å"magic† can be the symbol of Iago’s spell of poisoning Othello’s mind with suspicion and â€Å"web† can be the symbol for the perplexed state of Othello’s mind, which lost the ability to think and trust his own reasons. And the two hundred years old â€Å"sibyl† can be a metaphor for the evil master minded Iago, whose â€Å"prophetic fury† fabricated the whole chaos to take his revenge. The â€Å"silk† can be speculated as a metaphor for the love of Desdemona that came out of her â€Å"hallowed† trust and faith. And the word â€Å"dyed† can be taken as a pun (when analyzing these lines from symbolic references), as the faithful and sacred love of Desdemona ‘dyed’ or â€Å"died† within her â€Å"maiden heart†. The worth and value purposely exaggerated by Othello is a fine example of hyperbolic fantasies that Shakespeare is capable of designing. And thus the handkerchief becomes the symbol of the thin threaded relationship of Othello and Desdemona that was based on superficial beliefs and yet sought the possibility of sustenance of their love. It is the cause, it is the cause, my soul, Let me no name it to you, you chaste stars It is the cause, Yet Ill not shed her blood, Nor scar that whiter skin of hers than snow, And smooth as monumental alabaster, The above mentioned lines are from the Act V Scene II and anaphoric beginning of this passage is Othello’s expression for his exalted emotional dichotomy of disbelief and love for Desdemona. The repetition of the phrase â€Å"it is the cause† are the words that come out of Othello’s weeping brain that has been so badly eclipsed by the poisoning suspicion injected by Iago that it had totally become impotent of thinking on its own. As these lines are uttered during the climax of the play thus it is quite typical of Shakespeare that he lends his protagonist with an ample energy to utter dramatic and highly emotional phrases which let them have catharsis. The desperate utterance of â€Å"my soul† by Othello shows that perhaps the only salvage left for his consolation is to confide in to his soul. Or â€Å"my soul† can also be taken as Othello’s address to Desdemona as it can be observed that Othello still loves her in these lines. And from the ironic aspect the first line also conveys the meaning that it is the â€Å"soul† of Othello that can be taken as the â€Å"cause† of the whole tragedy, because if Othello had really loved Desdemona from his soul he would have had a complete trust in her love and honesty but since he believed more what he listened to and less what was known to him thus he became the victim of suspicion that proved fatal for him and his love. In the proceeding line the address to the â€Å"stars† is made by Othello to mock at Desdemona’s infidelity. â€Å"Stars† have been used as a metaphor for their heavenly status for chastity. It can also be a reference to the Greek tradition of naming the stars by the names of their gods and goddesses. Thus as Othello has completely lost his trust in his wife thus he consider her reference to be an insult for the stars. These lines depict the imbalance of Othello’s power to reason and think and express in coherence with his flow of emotions. In the later lines he reveals his intension to kill Desdemona, but unlike his valiance as a general, he prefers to strangle her because her physical beauty still absorbs his feelings in love and compassion for her. And being a black man himself he admired her fair skin and he refers to her with two different categories of symbols. The use of â€Å"snow† as a simile conveys the softness and coldness of her fair physique which Othello never wanted to distort by killing with a weapon and the metaphor of â€Å"monumental alabaster† can be referred to the stiff and lifeless beauty of Desdemona that laid with no worth for Othello anymore. I have seen the day That with this little arm and this good sword I have made my way through more impediments Than twenty times your stop. But O vain boast! Who can control his fate? Tis not so now. Be not afraid, though you do see me weaponed. Here is my journeys end, here is my butt, And very seamark of my utmost sail. These lines are uttered in the Act V Scene II which is almost the resolution of the play and it is one of Shakespeare’s special characteristics that his tragic heroes lose the intensity and the energy of their rhetoric in the last scenes of the play. It is because of the reason that Shakespeare develops his tragic heroes to attain the status of being larger than life and thus speech loses its value when the characters become paranormal. In the above lines the most important aspect that one can notice is the tone of submission and retreat which is conveyed by the choice and arrangement of words like â€Å"little arm† â€Å"But O vain Boast!† and â€Å"Who can control this fate?† by Othello who was a valiant and unbeatable general but in these lines appears to be the defeated and subjugated one in the hands of fate. These lines though do not consist of any special rhyme scheme that would help in bringing an effective poetic impact whilst delivering these lines on the stage but the second line does show some signs of alliteration as the words â€Å"made my way through more impediments† as well as in the third line where the words â€Å"twenty times† are stressed and can be delivered with some high pitched voice by the character. But after these lines the tone changes as the desperation and despondency appear in the words. The last three lines are symbolically referred by Othello to his death. And despite he is â€Å"weaponed† yet he is incapable to fight as he desires death due to his lamenting guilt and in vain repentance. In the last line the use of the metaphor â€Å"seamark† is an appropriate expression for Othello’s choice of vocabulary as it adequately represents his experiences and knowledge as a sailor and warrior.

Use of simulated learning in Radiology. Current state of affair Article

Use of simulated learning in Radiology. Current state of affair - Article Example Simulator models are effective in environments that are risk-free in training skills. The models also help to improve the safety of the patients in radiology training. The Board of surgery in America has made it mandatory for surgeon trainees to undergo a simulation test before taking the summative examination. It will become an essential tool for medical practitioners just as it is for pilots (Levine, 2013: Collins, & Stern, 2008). Researchers are looking for ways of integrating technology and knowledge from areas like surgery and anesthesia to the field of radiology. Paige argues that many programmes of teaching prefer having residents to learn with simulators for time maximization with patients. Simulation aids residents in developing confidence when it comes to dealing with infrequent events that are critical. Simulation can be well merged with interventional radiology (IR) given that IR is procedural (Pasler, 1992: Patel & Joseph, 2012: Bessemer & Myers, 1998). After internalizing basic skills like tying knots, residents can advance to use of virtual reality machines which stimulate procedures like selective arterial catheterization. Embolism is one of the events that can arise and it can be dealt with through simulation. Training by simulation has performed a major role in reliability and performance improvement in radiology and medical organizations by reduction of human factors. Simulation focuses on decision making, training of clinical teams, safety of patients and management of errors. The training of teams is viewed in a multi-disciplinary way. It should be able to respond to the changing radiology environment. Advancements in teamwork have resulted to high job satisfaction, high efficiency, increased productivity and safer ways of patient care. Simulation, when integrated in radiology programmes helps to train and acts as a remedy to limited

Reading Summary Article Example | Topics and Well Written Essays - 250 words - 3

Reading Summary - Article Example More also, it also consolidates changes to how the United States economy is measured together with additional source data. The GDP and the national records evaluations focus on economic census information in a general sense and any other data that is accessible just once in every five years. Secondly, the difficulty lies in creating a system and strategies that make use of these financial census data. In addition, it consolidates them using a mosaic of month to month, quarterly, and yearly monetary markers to create quarterly and annual GDP estimates. Appraisals of GDP start with a complete revision assessment, also known as a "best-level" gauge, which is produced once in every five years with the reference year typically a few years ago. In the event that the actual yield surpasses its potential level, then demands on capacity start to bind, limiting further development and leading to inflationary pressure. In the case that yield falls beneath potential, then assets are lying dormant, and inflation might fall. Discharging of Genuine GDP data occurs monthly and is reports of quarterly movement. A month after the quarter ends, the first one is removed. As more information come in, the second report is issued toward the end of the second month from quarters end, as a "last" report arriving at the final point of the quarter. (Landefeld, Seskin, & Fraumeni, 2008) The fundamental difficulties outlined in the article incorporate the absence of sufficient data measuring in the services and administrations sector. The second set of difficulties identifies with the advancement of better estimation strategies for parts that are, by their characteristics, difficult to value. The pressure for giving data to national profits more rapidly will just build up. All in all, it is worth to express that Measuring GDP for the United States economy is dependable working for the advancement. Since Bureau

Discuss victimization of Children that are exposed to domestic Essay

Discuss victimization of Children that are exposed to domestic violence and the long term impact - Essay Example Individuals who are directly targeted in domestic violence are not only suffering its adverse effects; others, especially children, are even experiencing the negative effects of this sort of violent behavior. Children are being exposed to this sort of violence in their everyday life in different forms; exposure might be in form of hearing, seeing, experiencing and being informed about such assaults. According to the US Census Bureau, during 2001 a total of 15.5 million children were living in households where domestic violence was taking place (McDonald, 2007). Children who are violated in cases of domestic violence are not only the ones being negatively impacted; even children who live in households where domestically violent activities are taking place are being negatively impacted. The degree of impact may vary according to factors such as age, sex, frequency, and whether the child has been directly abused or has experienced indirect abuse. The negative effects domestic violence on children are said to be short as well as long term in nature. Short term negative effects associated with domestic violence include: increase in anxiousness, depressing state of mind, and depreciated level of performance in academic life and self-esteem. The long-term negative effects associated with domestic violence are those concerning the way domestically violated children exhibit as they grow up. College going students that have been violated indirectly reported the various issues stated in the short term negative effects of this kind of violence as compared to those college students that do not experience intimate partner violence (Stark, 2009). Studies even report that individuals who have been abused sexually and emotionally in childhood have even reported the same kinds of abuse in their adulthood (Stark, 2009). The social learning theory states that if children observe

Movie review Example | Topics and Well Written Essays - 250 words - 6

Movie Review Example It was considered to be the biggest spill in the history of the United States. Despite of its devastating effects, the media had paid little attention to it and many do not know about the tragedy. The movie caught the attention of the reviewer because of its disturbing content. It was really dangerous to have millions of gallons of water to contain uranium which is an active element. Once exposed to it, mutations and illnesses come upon the organisms and some even die quickly. If it would happen again in other parts of the world, the people in that locality may not be prepared so it is very important to actually have the movie to be disseminated to inform people about the dangers of nuclear energy and its possible leakage. Having documentary films like The River that Harms is necessary to increase the awareness of the public about the importance of safety and environment. After all, once such kind of danger occurs, many will be

Electronic Healthcare Record Research Paper Example | Topics and Well Written Essays - 3000 words

Electronic Healthcare Record - Research Paper Example As such, the current standards that exist are focussed on ensuring that the EHR are interoperable and they allow the practice to showcase meaningful use. The Office of the National Coordinator for Health Information Technology’s (ONC) is on the forefront to seek ways that will propagate interoperability in vendor’s EHR systems. As such, they have backed up the Clinical Document Architecture (CLA) Continuity of Care Document (CCD) of Health Level 7 International (HL7) (EHR Intelligence, 2013). Other standard’s initiatives include: the standardization of healthcare vocabularies; transport through email protocols that are secure; services through transparent and accessible application programming interfaces (API’s); privacy and security through the implementation of standards set out by the National Institute of Standards and Technology (NIST). It is recommended that EHR systems should be implemented by hospitals and clinics so as to improve on the quality of care. As such, below is the step by step guide while implementing EHR systems (USDHHS, 2013). This step involves: conducting an assessment of the EHR system need; outlining the goals and objectives to be achieved when the EHR system has been implemented and determining the financial capability to implement the EHR system. The second step involves planning how the EHR will be implemented successfully. Moreover, the goals and objectives mentioned in step one should be reviewed so as to ensure that the plan is efficient and effective. Other factors that need to be reviewed include: the information security policy template; EHR workflow process mapping and implementation and the workflow redesign templates. The third step involves selecting the best EHR that suits the practice processes and operations. It is important for the practice to implement an EHR system that has been certified so as to avoid

Experiential Exercise Case Study Example | Topics and Well Written Essays - 500 words

Experiential Exercise - Case Study Example This happened due to several reasons. The most important reason behind this was the switch of female employees to other organizations. When Metropolitan Hospital founded Task Force on Retention and Advancement of Female Executive Positions, it identified three main causes for leaving by female workers: Answer: Duncan Green (2014) has highlighted many benefits of addressing the underlying problems of organizational diversity issues. The changes addressed the underlying problems in a very effective and professional way. Among the three main causes for leaving of Metropolitan Hospital by female workers, the first two were so much important for Metropolitan Hospital and these problems were directly linked with the operations of Metropolitan Hospital. So they ran a retooling program to address these top two concerns. They provided proper guidance, attention and growth prospects to both males and females. In addition to addressing the first two problems, Metropolitan Hospital also tried to solve the third problem that was more linked with the personal lives of the women rather than the professional lives. Metropolitan Hospital offered flexible work time, reduced workloads, and flexible work arrangements to address the family issues and engagements of women. All these restructuring of di versity program delivered good results after some time. Answer: There are certain attributes and functions that are required by managers to successfully implement a diversity program. Department of the Interior Diversity and Inclusion Strategic Plan (2012) highlights the following priorities and actions required by managers to successfully implement a diversity program: Mangers should run a competitive recruitment process comprising on qualified and experienced group of potential candidates. This principle is important to get high performing workforce drawn from all segments of society Cultivate the seed of an organizational culture in which

The Baboons Essay Example for Free

The Baboons Essay The Baboon which belong to ‘Cercopithecidae† from the Old World monkey family. Baboons are found in Africa, south of the Sahara and in the Saudi Arabia desert. Baboons have five subspecies including the hamadryas, the Guinea, the yellow, the chacma, and the olive baboons. ( S.C. Strum. 1987). Baboons are the most widespread primate in Africa. Recognized for their ability to adapt, baboons can be found in a variety of habitats. For example, some have been found semi-desert to rainforest, and from coastal areas to mountains. Their adaptableness also extends to their feeding habits, baboons will eat just about anything. Baboons diet includes a wide variety of plants, which they eat every part: the leaves, the fruit, the buds, the flowers, the roots, the bulbs, the tubers, the seeds, the shoots, the bark and even the sap. As for meat, these resourceful monkeys will eat insects, shellfish, small reptiles and amphibians, rodents, birds, fish, eggs and even young antelope or livestock. Several kinds of baboons live in Africa and southwestern Arabia. These include the Hamadryas baboon, which lives on plains and rocky hills of Saudi Arabia, Yemen, and eastern Africa near the Red Sea, and the Chacma baboon, which dwells on rocky regions and open woodlands in southern Africa. Olive baboons inhabit the Kekopey cattle ranch located near the town of Gilgil, Kenya. The central part of the ranch consists of open grassland studded with occasional patches of bushy shrub, scattered thorn bush, and small groves of giant fever trees. (S.C. Strum. 1987)They eat a wide variety of foods including insects, flowers, leaves, fruits of bushes and herbs, and most significant of all, the grass itself. Baboons eat the green blades of grass during the rainy seasons and dig for corms (the underground storage organ of sedge grasses) when the ranch is dry. They can carry food in pouches inside their cheeks. Some of the most vicious predators that the baboon have are the large carnivores such as cheetahs and leopards. The Baboon live mostly on the ground but sleep in such places as trees or cliffs (S.C. Strum. 1987). Throughout Africa baboons achieve some protection from nocturnal predators by sleeping in tall trees or on cliffs. Usually each troop sleeps on a different cliff, but occasionally two troops will share a single sleeping site. In addition to the predators previously mentioned, baboons share their range with antelope as well as other large mammals including zebra, warthog, jackals, and African buffalo (S.C. Strum, D. Lindburg, and D. Hamburg 1999). Primates have a number of characteristic physical features, but not every primate has each of these features. Nearly all kinds of primates, including baboons can grasp objects with their hands and feet. They have nails, rather than claws, on at least some of their fingers and toes. Vision is probably a primates most important sense. Most primates have well-developed eyesight and stereoscopic vision (the ability to judge depth). The eyes are on the front rather than the sides of the head. Other primate features include similar skeletal and dental structures(S.C. Strum, D. Lindburg, and D. Hamburg 1999).The physical features of primates are basically suited for a tree-dwelling life. For example, the ability to grasp objects helps in climbing and traveling through trees. â€Å"Just about all baboons have cheek pouches, enabling them to eat and run. Baboon ears and faces are naked. A baboon has a large head and long, sharp canine teeth, and a muzzle much like that of a dog. A baboons arms are about as long as its legs. Some baboons have short, stumpy tails, but others have tails more than 2 feet long. Male baboons are much larger than the females and have longer canine teeth. Some female baboons weigh as little as 24 pounds. A male baboon may weigh 90 pounds. Body lengths range between 50-60cm. and heavier, with the olive and yellow being the largest†. (Cheney L, Dorothy. Seyearth M, Robert. 2007) Baboons fur is dense and their coloring slightly varies, though most coats contain gray or brown. Olive baboons have a greenish olive coat; yellow baboons are yellowish brown; guinea baboons are reddish brown; chacmas range from yellowish gray to almost black (S.C. Strum. 1987). Baboons are sexually dimorphic in size and appearance, with males being larger, often twice as large, and having a more distinctive appearance. Males often have manes and capes of hair around their shoulders. This is especially pronounced in the hamadryads subspecies. This added coat enhances the males’ appearance, making them seem even larger (S.C. Strum. 1987). Baboons can adapt their behavior to many different kinds of environment without having to change much of their basic anatomy. (Stewart, Melissa, 2002) Olive baboons live in medium to large groups with multiple males and females. The group functions as a cohesive unit organized around a core of related females. Females usually remain in their natal groups throughout their lives, while males transfer to other groups at around the time of sexual maturity. (Stewart, Melissa, 2002) Females maintain close bonds with maternal relatives. Adult females form linear dominance hierarchies, which remain relatively stable for considerable lengths of time. Relationships among males are usually more aggressive than those among females, perhaps because most males in a group are unrelated and because male reproductive success is largely determined by competition for females. (Stewart, Melissa, 2002) The outcome of male competition is a dominance hierarchy, determined by fighting ability, age and size. Humans made a major impact on the environment of the baboons of the Kekopey cattle ranch. In 1978, the ranch was sold to an agricultural cooperative and humans started planting crops. From the baboons point of view, the newly planted maize and beans were simply additional food resources for them to exploit in their traditional home. We knew that crop raiding was a new behavior for baboons. The baboons didnt need the crops to survive. The crops represent a very large and very high-quality food compared to grass blades, roots of herbs, small berries and other items in a baboons natural diet. Farmers tried to put up fences to keep the baboons away from the crops. The farmers quickly realize that the fences were no barrier to animals that can jump, climb, dig and pull apart; even electric fences can be outsmarted.

A Ticket Booking System For Theatre

A Ticket Booking System For Theatre The purpose of the online ticket booking system is to provide another way for purchasing cinema tickets in advance. It is an automatic system. This paper presents a formal use of the Object Oriented analysis and Design, we will illustrate our system by providing Use Case Diagrams with Specifications, Activity Diagrams, Class Diagrams, Sequence Diagrams, State Machines and Communication Diagrams on the functionalities of the system, also we will provide some process description and data dictionary. The goals of our system are: Record performance details Record customer details Record tickets sold Print tickets Print address labels for telephone booking Task 1: Functional Modelling Identification of Actors Use Cases Analyzing the existing system we figured out that, there are two main scopes to be covered in the system. The scopes are Performance Planning and Ticket Booking. We used the below table to identify the Actors and the Use Cases for the system. User Role Use Case Theatre Manager Performance planning Define the type of the performance and name it. Performance scheduling Define date and time of the performance. Artist booking Book an artist for the performance. Ticket pricing Determine a price for the ticket. Clerk Check schedule Check the performance schedule for a particular show on a date. Check seat availability Checks for available seats Capture customer information Record customer details Check ticket price Check for ticket price for particular show. Sell ticket Record tickets sold. Print ticket Print ticket for the customer. Print address label Print address label for telephone booking. Use Case Diagram Following diagram shows the overall view of the Ticket Booking System for Theatre. Figure 1: Use Case Diagram (Performance Planning Ticket Booking) Use Case Specification Table 1: Use Case of Performance Planning Number: UC01 Req. Doc Ref: Name: Performance Planning Status: Actors: Theatre Manager Pre-requisites: User should be logged in the system. Goal: Defining the performance type and naming it. Use Case Relationships: Extend:UC02, UC03 Include: Association: Generalization: Description: Index Actor Event 1 User enters the name of the performance. 2 User enters the type of the performance. 3 System checks for all required data entry. 4 System connects to the database. 5 System writes data into the database. 6 System shows a confirmation message after successful database writes. Alternatives: Index Actor Event A 3.1 Enter required information. A 4.1 Check network connectivity A 4.2 Check database connectivity A 4.3 Check database user role A 5.1 Theatre manager gets notification of unsuccessful operation. Table 2: Use Case of Performance Scheduling Number: UC02 Req. Doc Ref: Name: Performance Scheduling Status: Actors: Theatre Manager Pre-requisites: User should be logged in the system. Performance planning (UC01) should be inserted into the system. Goal: Define date and time of the performance. Use Case Relationships: Extend: Include: Association: Generalization: Description: Index Actor Event 1 User selects the desired performance from the system. 2 User enters the date of the performance. 3 User enters the time of the performance. 4 System checks for all required data entry. 5 System connects to the database. 6 System writes data into the database. 7 System shows a confirmation message after successful database writes. Alternatives: Index Actor Event A 3.1 Enter required information. A 5.1 Check network connectivity A 5.2 Check database connectivity A 5.3 Check database user role A 6.1 Theatre manager gets notification of unsuccessful operation. Table 3: Use Case of Artist Booking Number: UC03 Req. Doc Ref: Name: Artist Booking Status: Actors: Theatre Manager Pre-requisites: User should be logged in the system. Performance planning (UC01) should be inserted into the system. Goal: Book an artist for the performance. Use Case Relationships: Extend: Include: Association: Generalization: Description: Index Actor Event 1 User selects the desired performance from the system. 2 User enters the name of the desired artist. 3 System checks for all required data entry. 4 System connects to the database. 5 System writes data into the database. 6 System shows a confirmation message after successful database writes. Alternatives: Index Actor Event A 3.1 Enter required information. A 4.1 Check network connectivity A 4.2 Check database connectivity A 4.3 Check database user role A 5.1 Theatre manager gets notification of unsuccessful operation. Table 5: Use Case of Schedule Checking Number: UC04 Req. Doc Ref: Name: Schedule Checking Status: Actors: Clerk Pre-requisites: User should be logged in the system. Performance scheduling (UC02) should be inserted into the system. Goal: Check the performance schedule for a particular show on a date. Use Case Relationships: Extend: UC01 Include: Association: Generalization: Description: Index Actor Event 1 User selects a desired performance and a date. 2 System shows a confirmation message for the availability of the performance. 3 System allows the user to perform the next event (UC06). Alternatives: Index Actor Event A 1.1 System notifies the user that the performance is unavailable on the desired date. Table 6: Use Case of Check Seat Availability Number: UC05 Req. Doc Ref: Name: Check Seat Availability Status: Actors: Clerk Pre-requisites: User should be logged in the system. Schedule checking (UC05) should be performed by the user. Goal: Checks for available seats. Use Case Relationships: Extend: Include: Association: Generalization: Description: Index Actor Event 1 User selects a desired performance and a date. 2 System shows a confirmation message for the availability of the seat. 3 System allows the user to perform the next event (UC07). Alternatives: Index Actor Event A 1.1 System notifies the user that the seat is unavailable for the desired performance. Table 7: Use Case of Capturing Customer Information Number: UC06 Req. Doc Ref: Name: Capture Customer Information Status: Actors: Clerk Pre-requisites: User should be logged in the system. Seat checking (UC06) should be performed by the user. Goal: Record customer details. Use Case Relationships: Extend: Include: Association: Generalization: Description: Index Actor Event 1 User enters the name, address and telephone number of the customer. 2 System checks for all required data entry. 3 System connects to the database. 4 System writes data into the database. 5 System shows a confirmation message after successful database writes. Alternatives: Index Actor Event A 2.1 Enter required information. A 3.1 Check network connectivity A 3.2 Check database connectivity A 3.3 Check database user role A 4.1 User gets notification of unsuccessful operation. Table 8: Use Case of Checking Ticket Price Number: UC07 Req. Doc Ref: Name: Check Ticket Price Status: Actors: Clerk Pre-requisites: User should be logged in the system. Ticket pricing information (UC04) should be entered into the system. Goal: Check for ticket price for particular show Use Case Relationships: Extend: UC01 Include: Association: Generalization: Description: Index Actor Event 1 User selects a desired performance form the system. 2 System shows the defined pricing for the ticket. Alternatives: Index Actor Event A 2.1 Price not found is notified to the user. Table 9: Use Case of Selling Ticket Number: UC08 Req. Doc Ref: Name: Selling Ticket Status: Actors: Clerk Pre-requisites: User should be logged in the system. Check ticket price (UC08) should be performed by the user. Goal: Record tickets sold. Use Case Relationships: Extend: Include: Association: Generalization: Description: Index Actor Event 1 User selects the desired performance from the system. 2 User enters ticket selling date and the ticket price for the desired performance. 3 System checks for all required data entry. 4 System connects to the database. 5 System writes data into the database. 6 System shows a confirmation message after successful database writes. Alternatives: Index Actor Event A 3.1 Enter required information. A 4.1 Check network connectivity A 4.2 Check database connectivity A 4.3 Check database user role A 5.1 Theatre manager gets notification of unsuccessful operation. Table 10: Use Case of Printing Ticket Number: UC09 Req. Doc Ref: Name: Printing Ticket Status: Actors: Clerk Pre-requisites: User should be logged in the system. Check ticket price (UC08) should be performed by the user. Goal: Print ticket for the customer Use Case Relationships: Extend: Include: Association: Generalization: Description: Index Actor Event 1 User triggers the print command for the sold ticket. Alternatives: Index Actor Event A 1.1 Printer not found notification will be given to the user. Table 11: Use Case of Checking Ticket Booking Type Number: UC10 Req. Doc Ref: Name: Check Ticket Booking Type Status: Actors: Clerk Pre-requisites: User should be logged in the system. Print ticket (UC10) should be performed by the user. Goal: Determine the ticket booking type. Use Case Relationships: Extend: Include: Association: Generalization: Description: Index Actor Event 1 User selects the booking type to identify whether the ticket was booked over phone. Alternatives: Index Actor Event Table 12: Use Case of Printing Address Label Number: UC11 Req. Doc Ref: Name: Print Address Label Status: Actors: Clerk Pre-requisites: User should be logged in the system. Ticket booking type (UC11) should be performed by the user. Goal: Print address label for telephone booking Use Case Relationships: Extend: UC11 Include: Association: Generalization: Description: Index Actor Event 1 User triggers the print command to print the address label. Alternatives: Index Actor Event Activity Diagram Based on the system observation, a high level activity diagram is drawn modelling the process of ticket booking for theatre. The activity diagram will bring everybody on a common ground for understanding the system functionalities. Figure 2: Activity Diagram (Performance Planning Ticket Booking) Task 2: Structural Modelling Class Diagram (attributes operations) The following diagram depicts the relationships between the classes for Ticket Booking System along with the attributes and the operations. Figure 3: Class Diagram (Performance Planning Ticket Booking) Task 3: Behavioural Modelling Sequence Diagram The following diagram is a sequence diagram for buying ticket. There are few things I want to state, that this is just one of the sequences of buying ticket. There could be more alternative sequence for buying ticket. For example, we can choice a performance before buying ticket. But the overall structures of all buying ticket sequence are similar, so, others sequence will not be shown. Figure 4: Sequence Diagram (Performance Planning Ticket Booking) State Machine Diagram Below diagram is used to give an abstract description of the behaviour of the ticket booking system. This behaviour is analyzed and represented in series of events that could occur in one or more possible states. Hereby each diagram usually represents objects of a single class and tracks the different states of its objects through the system. Figure 5: State Machine Diagram (Performance Planning Ticket Booking) Communication Diagram Communication diagram is similar to sequence diagrams, but it provides an overview of the relationships between objects, rather than focusing on the order of messages between objects, as the software executes. Figure 6: Communication Diagram (Performance Planning Ticket Booking) Task 4: Data Protection Law Introduction In Bangladesh Cyber Acts are in a process to be implemented. The Government of Bangladesh has formed National Council for Science and Technology (NCST). The Executive Committee for NCST has also been formed to implement policies formulated by the Council. Currently NCST is working with the general boundaries to protect the ICT industry and specific laws are yet to be decided. For our application we can follow the acts and regulations from UK. Laws, Regulations and Best Practices The Data Protection Act gives individuals the right to know what information is held about them. It provides a framework to ensure that personal information is handled properly. The Act works in two ways. Firstly, it states that anyone who processes personal information must comply with eight principles, which make sure that personal information is: Fairly and lawfully processed Processed for limited purposes Adequate, relevant and not excessive Accurate and up to date Not kept for longer than is necessary Processed in line with your rights Secure Not transferred to other countries without adequate protection The second area covered by the Act provides individuals with important rights, including the right to find out what personal information is held on computer and most paper records. Data protection laws should be adequate enough to maintain the below options at a minimum- How to access information This allows one to find out what information is held about him/her on a computer and within some manual records, such as medical records, files held by public bodies and financial information held by credit reference agencies. Correcting information This allows one to apply to a court to order a data controller to correct, block, remove or destroy personal details if they are inaccurate or contain expressions of opinion based on inaccurate information. Preventing processing of information This means one can ask a data controller not to process information about him/her that causes substantial unwarranted damage or distress. The data controller is not always bound to act on the request. Preventing unsolicited marketing This means a data controller is required not to process information about one for direct marketing purposes if he/she asks them not to. Preventing automated decision making This means one can object to decisions made only by automatic means. For example, where there is no human involvement. Claiming compensation This allows one to claim compensation through the courts from a data controller for damage, and in some cases distress, caused by any breach of the act. Exempt information This allows one to ask the information commissioner to investigate and assess whether the data controller has breached the act. There should be a committee (in our case NCTS could be the choice) that will have legal powers to ensure that organizations comply with the requirements of the data protection laws. It is notable here that these powers are focused on ensuring that organizations meet the obligations of the act. To promote best practices the regulation- The committee should carry out consensual audits with data controllers to assess their processing of personal information. The committee should see auditing as a constructive process with real benefits for data controllers. The committee should adopt, wherever possible, a participative approach including working closely with the data controller to agree the timing and scope of the audit. Comply with Data Protection Law A short checklist can help us to comply with the data protection laws in our system. Maintaining all the items in the checklist does guarantee compliance but it should mean that we are heading in the right direction. We should store only the related information about the customer and the personnelà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s involved with the system. And we need to make sure that we know what we are going to do with the information. The person should know, what are the information we are holding. He/she should understand what it will be used for. Information should be held securely whether ità ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s on the paper or on computer. The system should prevent any unwanted access of its resources. The information should be deleted as soon as there is no need for it. Access control list should be created with a strict need to know to prevent data access from all kind of users of the system. We should train the stuff in their duties and responsibilities under the act that we are putting them in to practice. Recommendations Being a strategic regulator means that, in so far as we have a choice, we have to be selective with our interventions. We will therefore apply our limited resources in ways that deliver the maximum return in terms of a sustained reduction in data protection risk. That is the risk of harm through improper use of personal information. There are priorities we have to set. We need to focus most attention on situations where there is a real likelihood of serious harm. We also need to focus on situations where our intervention is most likely to make a long term as well as a short term difference. When we intervene we must do so in a way that gives us the best possible return and remember that we will often be at our most effective when working closely with others. We are entitled to have legitimate expectations of those who are in a position to influence data protection risk. Our effectiveness depends on them seeking and welcoming our reasonable interventions. Furthermore we have an important international role. Data protection risk in the Bangladesh is increasingly influenced by events worldwide. Our risk-based approach is in line with good regulatory practice. It does not mean that we seek to remove all data protection risk. We do what we can to moderate the most serious risks and protect those who are most vulnerable to improper use of their information. But we will not try to take away freedom of choice and will remember that individuals themselves ought to be best placed to make decisions about their own interests. Part of our job is to equip individuals with the knowledge and tools to enable them to make their own well-informed decisions about the use and disclosure of their personal information. Being a strategic regulator also means extending our approach beyond simply improving (through guidance, persuasion and regulatory action) the behaviour of organisations that handle personal information. We also have a legitimate role in informing and influencing the market or political environment in which they operate. Thus we will seek to have long term influence over government and the legislature at Westminster and in the devolved administrations as well as over representative bodies and other stakeholders, to ensure privacy friendly outcomes. We will also seek to influence the legal framework that governs our own work to ensure that data protection requirements are simple, meaningful and proportionate and that we have the flexibility and tools to regulate effectively. Building public confidence in data protection is the key in our approach. We protect people, not just information. This means we need to engage with the public and explain what we do in a way that they can easily understand and relate to. This commitment is at the heart of how we approach our job as data protection regulator and will inform all our data protection tasks including complaints handling and the provision of advice. Task 5: Ticket Printing Produce Tickets To protect the tickets from being forged or copied we can use a barcode on each ticket. Weà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ll print a unique 10-digit number as a barcode on the tickets, which will be checked at the entrance with the software and a simple barcode scanner. As each barcode can only be used once to enter, copied or forged tickets are rejected and the revenues are protected. By default, the tickets will be labeled with random numbers with 10 digits, which will serve as copy protection. Figure 7: Sample barcode to print on tickets Seat Allocation Tickets will be printed with seat numbers, with serial numbers. Section names can be in different colours to facilitate orientation. For sections with an aisle a seat description can be added to the seat number (e.g. left, right), which helps the visitor to find the seat. Figure 8: Sample barcode to print on ticket with seat no. Hardware for printing tickets There are numerous tickets available in the market but I found D-Link printers suitable for our system. Below are the details of the hardware- Description: With the DSA-3100 and the DSA-3100P Ticket Printer, businesses and organizations can provide free or fee-based broadband Internet access to their customers or members. No complex billing system is required, guaranteeing a quick and convenient Internet experience for operators and their hot spot users. The DSA-3100P is hassle-free hot spot ticket printer that communicates with the DSA-3100 Public/Private Gateway to generate and print log-in usernames and passwords for the hot spot customers. Patented for easy loading, the DSA-3100P is connected to the DSA-3100 gateway via its RS-232 serial communication. With the DSA-3100P, the DSA-3100 gateway can manage and store up to 2,000 user accounts in its internal database and support up to 50 logged-in users at any time. Features: Printing Method: Thermal Dot Line Printing Print Speed: 80 mm/Second Connectivity: RS-232 Serial Compatibility: D-Link DSA-3100 Public/Private Gateway Specification: Manufacturer D-Link Manufacturer Part # DSA-3100P Device Type Thermal Line Label Printer Media Handling Media Type Receipt Paper Max Media Size 2.2 Max Printing Width 1.9 Roll Maximum Outer Diameter 3.3 Total Capacity 1 Roll Connectivity Interfaces 1 x RS-232 Serial Included Cables 1 x Serial Cable Power Requirements Power Supply External, 3.5 V DC Dimensions(H X W X D) Unit 4.6 x 3.8 x 6.3 Weight Unit 0.9 lbs Price: $375 Figure 9: D-Link DSA-3100P Ticket Printer Task 6: Database Design Database Design Figure 10: Database Design (Performance Planning Ticket Booking) Data Dictionary Table: Artist Attribute Data Type Length Primary Key Ref. Table ArtistID Integer Yes ArtistName Varchar 100 Table: Performance Attribute Data Type Length Primary Key Ref. Table PerformanceID Integer Yes PerformanceName Varchar 100 TicketPriceID Integer TicketPrice ArtistID Integer Artist Table: TicketPrice Attribute Data Type Length Primary Key Ref. Table TicketPriceID Integer Yes PerformanceID Integer Performance TicketPrice Numeric (18,2) Table: PerformanceSchedule Attribute Data Type Length Primary Key Ref. Table ScheduleID Integer Yes PerformanceID Integer Performance PerformanceDate Date Table: Customer Attribute Data Type Length Primary Key Ref. Table CustomerID Integer Yes Name Varchar 100 Address Varchar 250 Telephone Varchar 20 Table: Sales Attribute Data Type Length Primary Key Ref. Table SalesID Integer Yes PerformanceID Integer Performance ScheduleID Integer PerformanceSchedule TicketPriceID Integer TicketPrice CustomerID Integer Customer BookingType Boolean Table: SeatAllocation Attribute Data Type Length Primary Key Ref. Table SeatID Integer Yes SalesID Integer Sales SeatNoFrom Integer SeatNoTo Integer Task 7: Object-Orient Approaches vs. Standard Approaches Standard Approaches Standard approach includes many variations based on techniques used to develop information system with structured and modular programming. Standard analysis and design techniques are a software engineering methodology for describing systems as a hierarchy of functions. Below are the characteristics of Standard Approaches. Approach for structured analysis consists of the following objects: Data Flow Diagrams (DFD) Shows processes and flow of data in and out of these processes. Does not show control structures (loops) Contains 5 graphic symbols (shown later) Uses layers to decompose complex systems Can be used to show logical and physical Is a quantum leap forward to other techniques at the time, I.e. monolithic descriptions with globs of text. Context Diagram

Changing Health Risk Behaviours: Benefits and Strategies

Changing Health Risk Behaviours: Benefits and Strategies Jose L. Rivera Changing Health Risk behaviors so People can Live Healthy and Productive Lives Human behavior plays a vital role in the preservation of health as well as the prevention of disease. In order to reduce or decreased the significant morbidity and mortality linked with health-related behavior, health care professionals have looked into models of behavior change to steer the development of strategies that promote the person protective action, decrease behaviors that amplify health risk, and make possible helpful adaptation to the development coping strategies with illness. According to Ragin (2011), a number of different theories and models in psychology have been developed to explain human behavior. Some of them particularly designed to identify factors that explain certain health behaviors while others were intended to explain general behaviors. Growing evidence advocates that efficient programs to change individual health behavior involves a versatile approach to helping people adopt, change, and maintain behavior. There are some models or theories employed by hea lth psychologist help explain a range of health behaviors. The National Prevention Strategy (NPS) of the United States Department of Health and Health Services focuses on four Strategic Directions to facilitate health behavior changes. These Strategic Directions are the foundation for a more developed, conscientious and prevention oriented culture. The strategies have been developed to direct actions towards improve health and to support Americans in leading longer and healthier lives (National Prevention Council, 2011). The following is a brief overview of the strategies promoted in the NPS: Healthy and Safe Community Environments: Support communities that promote health and wellness through prevention as it is believed that many elements can affect health directly and also influence individuals’ health-related choices. A healthy community environment can help make healthy choices easy and affordable (National Prevention Council, 2011). Clinical and Community Preventive Services: Make certain that prevention-focused health care and community prevention efforts are available and supported. Providing clinical and community preventive services is the key component to improving and enhancing physical and mental health. With the Affordable Care Act people will be able to receive many clinical preventive services (National Prevention Council, 2011). Empowered People: To support people in making healthier choices. While there are many policies and programs in which people can make healthy options, they still need to be able to make healthy choices. In order to do that, people need to have access to more reasonable and accessible information and resources (National Prevention Council, 2011). Elimination of Health Disparities: Eliminate disparities, improving the quality of life for all Americans. All Americans should have the opportunity to live a healthy and productive lives not matter what. In United States, health differences are often closely linked with social, economic, or environmental disadvantage but this differences can be eliminated at the same time the system tries to improve the health of all Americans (National Prevention Council, 2011). These strategies seem to follow some of the five behavior health change models and theories. The strategy Healthy and Safe Community Environments stated that many elements affects and influence people’s health related choices. Therefore, a healthy community environment can help individuals make healthy choices (National Prevention Council, 2011). This seems to follows the Theory of Reason Action (TRA) in which the individual’s behaviors are determined by his or her intentions which are predisposed by two factors, attitude about the behaviors and subjective norms. The intention is based on a conviction regarding the likely outcome of the behavior. Theory of Reason Action suggests that some people’s behaviors are shaped by the opinions of those closer to them. However there are times in which individuals engage in behaviors that are inconsistent with the beliefs or values of those around them. Intentions correspond to a person’s motivation that develops into a conscious plan to exercise some kind of effort and perform the preferred behavior. Intentions are inclined by attitudes towards performing a particular behavior and social norms (Ragin, 2011). According to Gibbons et al., (2009), for a number of young people, health related behaviors, together with risky behaviors, such as casual sex or binge drinking are mostly intentional. However, for others these behaviors are often not intentional or planned or yet anticipated. Instead, they are a response to circumstances, usually social, that were neither sought nor necessarily expected. If the young individual does not have an intention to not engage, then he or she is in danger for the many consequences that come with lack of preparation such as unplanned pregnancy, STIs, and even accidents. The NPS strategy of Clinical and Community Preventive Services highlight the importance of preventive services and that the integration of those activities are vital to improving and enhancing physical and mental health. This seems to follow the Transtheoretical Model (TTM) of Behavioral Change in which explains the individual changes as a process and not an event. Changes take place of time and as this strategy indicates, certain clinical preventive services have proven to be effective through decades of practice and research (National Prevention Council, 2011). According to Ragin (2011), people move forward through five stages in order to attain successful behavioral change: 1) Pre-contemplative -There is a lack or no intention to change behavior, 2) Contemplative The individual has started to consider change at some unclear time in the next months 3) Preparation for action The person is considering or planning to make changes in the immediate future; 4) Action The individual engages in behavior change 5) Maintenance In where a steady state of behavior change is achieved The advantage of the Transtheoretical Model (TTM) is that has general propositions for a number of areas of intervention development and implementation. This model of behavioral change is a suitable model for the enrollment of a specific population because it makes a supposition about the promptness for change of a range of individuals. Therefore, the individual should be incorporated in an intervention group based on his/ her belonging to one of the Transtheoretical Model stages. The people in this model find themselves in different stages and interventions need to be modified to meet their specific needs. In addition, conventional interventions frequently have high volume of dropout because the program does not match their particular needs (Ragin, 2011). So the benefit of applying this model is that TTM based interventions are intended to accommodate the needs of a specific group, this more likely guarantees a smaller volume of dropouts. The NPS strategy of Empowered People emphasize that people should have access to information and resources so they are empowered to make healthier choices (National Prevention Council, 2011). This seems to follow the Theory of Planned Behavior (TPB) which suggests people belief that they have the resources and the opportunities required to act upon a behavior is directly connected to their perceived control over their behavior. The essential postulation of TPB is the fact that beliefs are the essential reason of any behavior and consequently, risk behavior can be easily altered or changed by modifying the underlying beliefs. TPB also suggests that social norms, attitudes, and perceived behavioral control persuade intention that correspond to the proximal determinant of behavior (Ragin, 2011). Andrews, et al.,(2010) noted that childhood obesity problem in the United States has considerably increased, with the proportion of children identified as overweight or at risk of becoming overweight more than doubling over the last 25 years. Given the extent of the predicament, a great number of intervention efforts and campaigns have been implemented, with a good number successful programs finding parental involvement to be influential in decreasing childhood obesity rates. For the effectiveness of parental involvement to be maximized in available interventions, formative research needs to be performed on how parents view the predicament of adolescent obesity and their role in making possible a healthy lifestyle for their children. The benefit of applying this model is that TPB has been extensively used since it offers a comprehensible theoretical account of the associations between intentions, attitudes, and behavior. In addition, it states how these constructs must be operationalized, which can make the design of behavior change interventions easier. Successful behavior change can be achieved when intentions are changed thorough either subjective norms, attitudes, or perceived behavioral control (Ragin, 2011). The NPS strategy of Elimination of Health Disparities stipulates that all Americans should have the opportunity to live a healthy life not matter their ethnicity, religion and social status. It also indicates that health disparities are usually connected to social, economic, and/ or environmental disadvantages (National Prevention Council, 2011). This seems to follow many or a combination of Models of Behavioral Change. Starting with Health Belief Model which works on understanding why and under what conditions a person seeks preventive health services (Ragin, 2011). According to Downing-Matibag and Geisinger (2009), the Health Belief Model presumes that the probability of an individual engaging in a definite health behavior is a function of a number of beliefs: the degree to which the individual believes is predisposed to a particular illness; the individual’s opinion of the severity of the illness consequences; the alleged costs or barriers of assuming a health behavior; as well as the perceived benefits of assuming the desired health behavior. These cognitive issues decide beliefs in personal health threat as well as the efficiency of a health behavior. Furthermore, the model proposes that certain prompts to action can set off health behavior when the appropriate health beliefs are held. One predicament with the Health Belief Model is that it does not identify how the different beliefs influence one another as well as how the clarifying issues are united to influence the individual’s behavior. This ended in different studies util izing different ways of analyzing variables such as multiplying vulnerability and taking away barriers from benefits. Another dilemma is that the authors presented no operational definition of the variables and this guided researchers to apply a different methodology in their studies. Based on NPS strategies, wellness and health are influenced by the environment or places, in which citizens learn, live, play and work. Existing proof for prevention is strong, and the needs of more effective strategies are important for improvement in the public’s health. It is recommended that most effective types of strategies, policies, communications and media, should be implemented. Future evaluation and research together with well designed trials for many alternative and complementary medicine treatments will be significant to deal with unmet prevention and wellness needs in order to improve health. Neighborhoods, including schools, homes, public areas, and work locations, need to be more aware that they can be changed to support well being and furthermore, make healthy choices easy and affordable. The marketing plan recommended at this time is to develop a framework to put together in line prevention efforts, along with agencies collaboration, and keep up impetus at the state and local levels via media and commercials. Nevertheless, in order for the services to be more applicable to diverse group considerable cultural conversions, as well as infrastructure changes inside and across all agencies, should take effect to make certain a healthier future for all. References Andrews, K. R., Silk, K. S., Eneli, I. U. (2010). Parents as Health Promoters: A Theory of Planned Behavior Perspective on the Prevention of Childhood Obesity.Journal Of Health Communication,15(1), 95-107. doi:10.1080/10810730903460567 Downing-Matibag, T. M., Geisinger, B. (2009). Hooking up and sexual risk taking among college students: a health belief model perspective.Qualitative Health Research,19(9), 1196-1209. doi:10.1177/1049732309344206Rueda, A., Schmitter-Edgecombe, M. (2009). Time estimation abilities in mild cognitive impairment and Alzheimers disease. Neuropsychology, 23(2), 178-188. doi:10.1037/a0014289. Gibbons, F. X., Houlihan, A. E., Gerrard, M. (2009). Reason and reaction: The utility of a dual-focus, dual-processing perspective on promotion and prevention of adolescent health risk behaviour. British Journal Of Health Psychology,14(2), 231-248. National Prevention Council, (2011). National Prevention Strategy, Washington, DC: U.S. Department of Health and Human Services, Office of the Surgeon General. Ragin,D.(2011). Health Psychology: An interdisciplinary approach to health. Upper Saddle River, N.J.:Pearson Education. Radecki Breitkopf, C., Asiedu, G., Egginton, J., Sinicrope, P., Opyrchal, S., Howell, L., Boardman, L. (2014). An investigation of the colorectal cancer experience and receptivity to family-based cancer prevention programs.Supportive Care In Cancer,22(9), 2517-2525. doi:10.1007/s00520-014-2245-9

e-books Essay -- Library Science, Myilibrary, Netlibrary

The library and information centres have undertaken collection management of printed books and now challenges in developing collection of electronic resources (e-resources) are waiting. Electronic books (e-books) consist of printed books being digitized or born digitally, the starting rise of new electronic formats. The increase number of e-books especially in UK also brings challenges to the publishers and aggregators, the importance in managing and promoting â€Å"e-books as the new electronic medium† (Armstrong and Lonsdale 2005). This essay will look at issues being addressed surrounding the management and promoting the e-books. One of the issues to be addressed in managing e-books is the selection and acquisition e-books. Librarians especially the academic librarians need to concern on selecting and acquisition new e-books, e-textbooks and titles associated to the students’ fields and demands. The librarians should train in considering the demands of e-books for distance learning, placements students and selecting printed books as back up to e-books’ (Armstrong and Lonsdale 2009). Acquiring the e-books from publishers and aggregators become issues in managing the e-books. The pricing and business model through subscription provides easy methods and ‘aggregators would be more attractive option than through publishers’ (Armstrong, Edwards and Lonsdale 2002). For the writer, e-book aggregators such as NetLibrary and Credo Reference give more advance access and tools for library, user of groups, relevance information and formats of e-book availability in pdf or web. However, subscript ions of e-books can be difficult. Libraries want to have ‘fewer complexes models and fair pricing structures’ (Ball 2009) and Edwards (2001) summari... ...ons. It is recommended stakeholders and JISC e-BOOK Working Group (Armstrong and Lonsdale 2005) are working together for effectively promoting strategies for e-books to all libraries. The e-book collections are no longer close entities but open widely to users. The libraries especially the academic libraries should concern on selecting e-books references for students and researchers. Issues concerned including the consideration giving effective ways on access and promotion need to be accounted. However, ‘Usage and licensing conditions vary widely and are not always library-friendly’ (Ball 2009). Licensing and bibliographical access still the crucial challenges for collection managements especially in relates to cost and legal legislate deposits. All the issues discussed above come up with literatures and approaches to issues of managing e-book collections.

A Case Of Needing: Serious Revisions :: essays research papers

A Case of Needing: Serious Revisions   Ã‚  Ã‚  Ã‚  Ã‚  Michael Crichton has penned some of the most engaging, timely, and thoroughly accessible tales to be published in the last twenty-five years. What his novels lack in literary merit and distinctive style they make up for in crisp plotting and edge-of-your-seat suspense. From alien viruses to regenerated dinosaurs, from evil Japanese monoliths to the insidious maneuverings of the modern corporation, Crichton latches onto the scientific and political controversies of the day, and squeezes out of them every last ounce of shock value. At least, that's usually what he does.   Ã‚  Ã‚  Ã‚  Ã‚  A Case Of Need could have used quite a bit more shock value. The problem is largely a matter of timing; when the book came out in 1969, the moral dilemma surrounding illegal abortions was still a hot enough topic to seem ripped from the headlines. Though abortion certainly remains a hot-button issue, the debate has shifted. For the time being, at least, the argument centers on whether or not the act should be legal, not on whether or not doctors are currently breaking the law by performing them.   Ã‚  Ã‚  Ã‚  Ã‚  The antiquated plot line is not the story's main flaw. The biggest drawback here is a one-two punch of highly technical prose employed to relate a thoroughly dull story. Karen Randall, the daughter of an eminent physician, dies as the result of a botched abortion. Art Lee, a Chinese obstetrician, is accused of performing the D & C that has resulted in her death. Though Lee is known to be an abortionist, he vehemently denies any involvement in the case. Lee calls upon his friend, forensic pathologist John Berry, to clear his name.   Ã‚  Ã‚  Ã‚  Ã‚  John Berry careens back and forth from one Boston hospital to another, trying to figure out who actually performed Randall's abortion, and why it killed her. The investigation is complicated by the fact that Randall was not even pregnant. Slowly, a picture emerges of Randall as a freewheeling, loose woman with several abortions in her past, and connections to some shadowy underworld characters. Berry ultimately discovers that a drug-dealing musician was actually at fault for Randall's death.   Ã‚  Ã‚  Ã‚  Ã‚  Why did Michael Crichton write this book? The answer seems fairly obvious. Still fairly immersed in his medical school learnings, Crichton must have seen it as a chance to demonstrate just how much knowledge he had gained during his time at Harvard. Numerous medical procedures are described in detail, supplemented by footnotes and appendices for readers not in the know.   Ã‚  Ã‚  Ã‚  Ã‚  All of this technical gobbledygook turns out to be almost totally superfluous. Berry clears Lee's name largely through old-fashioned detective

Role of Finance Companies

Role of Finance Companies Traditional role of Finance Companies The finance companies are much smaller in scale compared with commercial banks, and they are also saddled with more restrictions which will be discussed later in the report. Traditionally, they relied on their personalized and flexible services to attract clients. This is because there are always consumers who are rejected by the commercial banks because adding these consumers to their portfolios would be uneconomical for these commercial banks as their economies of scale cannot offset the transactional costs these clients would bring because of the small margins these smaller consumers bring. These mainly include people or companies who do not have the capital to meet the relatively higher capital requirements of the commercial banks compared to finance companies. One example would be the current business account for companies. The major banks such as DBS and OCBC also offer low startup requirements, but charge a monthly management fee if their balances fall below $10,000 , not a big amount for businesses but possibly a stretch on new and small scale businesses. Hence, finance companies plug that gap with much lower balance requirements that would be more attractive to these business owners. Another example would be home loans by which finance companies offer a wider range of interest rates for a different range of financing needs compared to commercial banks who offer more generic rates on a whole. Emerging opportunities for Finance Companies Financial companies are however, now exploring new opportunities that they have not been able to capitalize on before. For example, Hong Leong has recently been awarding underwriting rights by the MAS, a traditional stronghold of commercial banks. This has redefined the boundaries that a traditional finance company in Singapore held due to regulations under the finance companies’ act. Wealth management, a relatively fast growing new segment in Singapore, has seen Hong Leong also wrestling in with a slice of the pie that many expected the commercial and investment banks monopolize. Industry Performance Finance companies form a small and unique portion of the financial services sector here in Singapore. A large part of their income comes in the form of interest income from loans and also commission fees for services that they offer. By focusing on domestic opportunities, they have managed to avoid exposure to the credit crisis that many others in the sector have been affected by. This has thus helped all 3 firms in the sector to post stellar results over the past year. As shown below, Singapore’s GDP growth YoY was 7. 7%, a slight moderation from the 8. % in 2006. This represents opportunities as the need for financial services increase as people in Singapore gain affluence. Growth of profit for Finance Companies Growth on EBIT ranged from a low of 38. 7% to a high of 65. 2% riding on increased receivables for all 3 finance companies. This is exceptional considering the cloud that has shrouded the financial sector in recent times. In dollar terms, their p rofits grew by SGD$43million to a total of over SGD$150million. Also, operational efficiency was a strong driver of the profit growth. Revenues remained rather stable and it was the decreased operating costs that led to higher profits according to the financial reports released. This could be due to reasons such as improved technical systems or improved employee proficiencies. Growth of property & construction revenue segment There is a strong focus on the â€Å"heartland† consumers and increased demand for housing, particularly in HDB flats, has led to opportunities that finance companies have leveraged on to cement their stake in this niche market. Although commercial banks also offer housing loans, finance companies are able to adapt each individual loan to consumer’s requirements because they enjoy greater flexibility especially for smaller loans that larger financial institutions do not want to accommodate to enjoy the relatively small returns. Looking at the breakdown of loans and advances of Finance Companies, we can see a large part is driven by the building and construction sector in Singapore, which was booming last yea. The building sector was driven by the construction of the 2 integrated resorts and a booming property market last year. A key driver of the industry, construction growth, which represents a large portion of finance companies’ interest income, grew at a rate of 20. 3% in 2007, compared to 3. 6% in 2006. The bull run in the property market, as mentioned, has also contributed to the sector’s good performance. Property agents have described in particular, the HDB resale market as the kingpin of the real estate sector. Projected unit sales are estimated to be at 30,000 by industry players. Average prices rose 17% for 2007. This, coinciding with a new government initiative to encourage singles to live with their parents by providing a grant of up to $9000, has led to a boom for the property market domestically in recent times. The government’s policy to target an eventually population size of 6million citizens would lead to an increased demand for housing as more and more immigrants look to plant their roots here. Thus, we can expect housing loans to continue to be a strong driver of performance for finance companies into the foreseeable future. Increase in SME initiatives The government’s initiative to increase SME competitiveness and promote entrepreneurship has also facilitated the expansion of this revenue segment for financial companies. The founding of organizations such as SPRING help to spur and stimulate the growth of target sectors for these financial companies. Initiatives such as the Micro Loan Programme under SPRING create direct market share for these finance companies for those who are rejected by the commercial banks for loans. A look through the Hong Leong Finance website shows at least 11 initiatives directed at SMEs alone. This shows the importance of this particular revenue segment to finance companies. Therefore, the future of this key driver of finance companies’ success looks to be rosy given the support that SMEs receive domestically from the government. It is also important to note that finance companies give incentives by positioning themselves as service providers for smaller enterprises who require greater flexibility in terms of financing requirements. As mentioned earlier in the report, this is due to the fact that it is uneconomical for commercial banks to process some enquiries and loans because they are uneconomical given the scale of operations. Summing up, the performances of finance companies have been exceptional with impressive growth figures. However, as the recession worries and full effects of the sub-prime issues slowly uncover, finance companies may yet be exposed to underlying issues that may influence performances in the near future. Next, we shall examine some of the trends in the finance company sector and try to identify key issues that may offer insights into what we can expect from these finance companies in the future given what we have already discussed. We would also examine a key player to try and gain insights into how these finance companies operate. TRENDS AND ISSUES IN THE FINANCE COMPANIES SECTOR: SINGAPORE 1. Consolidation within industry One of the most pervasive trends identified in the last decade in the finance companies sector is the consolidation of the industry. This is evident from the number of finance companies that have ceased operations. Some of these companies were forced out of the industry due to regulatory changes, while others, like OCBC Finance, simply merged with their principal companies. Since 1996, 19 finance companies have surrendered their finance companies’ license, with only 3 main finance companies remaining by the end of 2007. Accordingly, the assets and liabilities of finance companies as a whole have declined dramatically over the past decade, before stabilizing and increasing steadily over the past 3 years to around 10 billion dollars. Finance companies’ assets decreasing before stabilizing and recovering, and consolidation. 1. 1 Regulatory changes One of the catalysts for this consolidation is no doubt the regulatory changes that MAS has put into effect. Since December 1994, the Finance Companies Act was revised to raise the minimum capital requirement for finance companies from $0. to $50 million, and existing finance companies were given until 2003 to gather the required amount. This effectively meant that finance companies which did not have the required capital had to either merge with other players in the industry including banks, or raise the required capital. Hong Leong Singapore Finance, the finance company in Singapore today, is the result of such a merger between Hong Leong and Singapo re Finance. Examples of mergers with their parent banks include Maybank Finance, and Overseas Union Trust, which of course was subsequently absorbed into UOB. It could be argued that even without regulatory changes, mergers and acquisitions are inevitable for the smaller companies to survive. Regardless, the changes put into place by MAS has forced the industry to evolve into one with lesser, but stronger players. 1. 2 Increasing competition In 1998, then DPM Lee Hsien Loong remarked in a parliamentary session that the rationale behind these regulatory changes was to â€Å"enable finance companies to have the resources to compete more effectively and increase public confidence in them. Hence, another major reason for the consolidation in the industry can be attributed to the increasingly intense competition from commercial banks and other financial institutions which provide similar services. Loans and other services catered to SMEs, which the full banks typically deemed unprofitable, were traditionally the strong suit of finance companies. From data gathered on the 3 existing finance companies, loans and services to SMEs forms over 40% o f their portfolios. However, in the past decade, many commercial banks have started divisions to tap into the SME market made popular by finance companies. Finance companies thus now have to contend not only with each other, but commercial banks as well. This means that badly run finance companies simply could not contend with the competition and were targets for other finance companies’ acquisitions to boost their own ability to compete. 1. 3Niche markets Finance companies are usually able to compete with commercial banks because they offer services to niche markets (usually SMEs) which then form a large part of their portfolio. In today’s financial markets, Hong Leong Singapore Finance is known to target clients within the SME, consumer housing and the silver industry. Sing Investments and Finance has loans in the construction and property development sectors amounting to 68% of their loans portfolio. However, the population of such niche markets are usually much smaller than mainstream financial markets, and companies need to be able to capture a larger market share within the niches to be able to offer products with a competitive edge over commercial banks. Under the basic tenets of economics, this means that a only a small number of firms are needed to satisfy demand in such niche markets. Hence, there is necessarily a trend towards consolidation of similar firms within the separate niche markets in a ‘survival of the fittest’-style competition, which is the situation being faced with today. 1. 4 Global mergers and acquisition trends Mergers and acquisitions have been widespread and plentiful in recent times, and although this directly impacts the trend of mergers within the finance companies sector, there are also indirect effects to be discussed. One must consider that the increasing prevalence of large, merger companies necessarily means that the pool of smaller companies, of which finance companies cater to, is steadily decreasing. Such large merger companies usually go to commercial banks for the more sophisticated and diverse range of credit options which finance companies are simply unable to provide, either because of regulatory restrictions from the Finance Companies Act, or because they do not have the resources to do so. Again, this results in a net effect of finance companies having to merge themselves to operate effectively and efficiently to capture this diminishing pool of available business. TRENDS AND ISSUES IN THE FINANCE COMPANIES SECTOR: INTERNATIONAL International finance companies Unlike in Singapore, a legal definition of ‘finance company’ exists, there is no clear definition on what constitutes a finance company in the overseas financial markets. However, there is a general consensus that finance companies provide mainly lending services to consumers and small businesses. As with finance companies in Singapore, international finance companies typically target these clients that the major banks overlook, or have specializations in specific industries that make them more attractive to customers seeking credit services within these industries. Unlike Singapore, where only 3 such companies now operate, there are literally thousands of such companies overseas catering to different industries and customer bases, and it will be definitely be out of the scope of this report to discuss each one in detail. Also, the nature of the finance companies sector is such that they are more influenced by regulations and performances of industries within the countries in which they operate, and less affected by global financial trends. A simple example of this is in Singapore, where finance companies have been fairly shielded from the turmoil in overseas financial markets led by the subprime crisis in the US. Instead, they have been doing well, largely owing to the boom in the local property, auto and SME markets. It is thus more appropriate to examine the issues and trends of nternational finance companies in the context of the local markets which they serve, rather than to identify and global trends that affect all financial markets. Hence, we have decided to focus our attention on finance companies operating within 3 countries where financial markets are relatively mature and established, and whose activities are more transparent and in the limelight. These are Australia, Japan and USA. 2. Fin ance companies in Australia The finance companies scene in Australia is thriving, and has witness continued growth in the last 3 years. Another good year was recorded in 2006/2007 with both business and personal lending continuing to grow. Finance companies in Australia have long been a significant sector in the Australian financial services market, offering a wide range of products including business leasing, fleet leasing and personal lending. Such companies provide an alternative source of borrowing to the banks, building societies and credit unions. The two largest finance companies operating in Australia are Esanda and Capital Finance, which collectively represents almost 40% of the sector’s operating profits after tax. Some of the key issues which have impacted profits in the last 2 years include: ? asset growth of 7. 1% leading to an increase in interest income ? increased competition leading to reduced margins and fee income ? increased bad debts expenses ?reduced profits on motor vehicle lending 2. 1 Australia – Reliance on Auto Industry and Industry Trends The auto industry is a major driver of performance of the finance companies sector in Australia, no doubt because the majority of the finance companies are exposed to the sector. This may be in the form of lending to consumers and businesses to purchase their motor vehicles, financing auto dealers’ purchase inventories, or providing fleet management businesses. The growth of finance companies coincides with the auto industry’s boom in the past 5 years, with 4 consecutive years of record sales up to 2005. Provision of loans to purchase large cars dropped 18 percent largely due to the change in consumer purchasing habits from the price hikes in oil. Instead, smaller car sales were up 21 percent, contributing to increased revenues for finance companies. However, the increased affordability of new cars in the last 5 years has created difficulties for finance companies which provide fleet management services, such as BMW Finance and ORIX, since such companies suffer reduced profits on the sale of cars at the end of their lease. In recent times, the focus of many of the larger finance companies have shifted to diversification of services. This is similar to Hong Leong Singapore Finance’s strategy in Singapore, which is to take on the major banks at their own game, such as providing property and construction facilities. GE Money’s expansion into credit cards, mortgages and on-line savings provide another example of Australian finance companies’ diversification. Just as the finance companies are expanding their services to include services provided by major finance players such as banks, so are the majors entering into sectors traditionally dominated by finance companies. This includes areas such as lending secured on receivables, consumer and low-doc lending. This has increased competition among Australian finance companies, which is further crowded by new entrants such as Aussie Home Loans’ plans to target car and personal lending markets. . 2 Australia – Growth in Assets, Personal and Business lending Total assets of the finance companies surveyed increased 7. 1 percent to $37. 5 billion, slightly down from 8. 1 percent growth in the previous year, but this still represents a strong rate of growth. This trend has been observed for the past 4 years, and can largely be at tributed to lending growth in the business and personal sectors. Even though finance companies in Australia only accounts for 5 percent of total Australian loans and advances, their market share is considerably higher in traditionally key markets of business lending and personal lending. This is estimated to be around 10 and 15 percent approximately. Since finance companies in Australia are typically not exposed to the housing mortgage market, they are not affected much by the decline in the housing market that is being experienced in global markets. However, the quality of the assets seem to be an issue for finance companies. Total bad and doubtful debt expense increased 32 percent from 2006. Even when viewed in context in the growth of receivables, the ratio of bad debts to average receivables increased. Hence, unlike in Singapore, it does seem that Australian finance companies suffers somewhat from increase in credit losses. However, this is to be expected since finance companies typically engage in less secure lending to less credit worthy customers in exchange for a higher margin. It must also be said that the amount of credit losses increases pales in comparison with the subprime losses that major international banks have faced even with supposed tighter credit checks. 3. Finance companies in Japan In early 2007, the consumer finance industry of Japan was valued at a total of ? 0 trillion with annual growth of 4%. The key factor influencing this previous growth in the industry might be traced to the equity and real estate bubble burst in the early 1990’s which lowered the collateral of several consumers. This provided a large market segment seeking uncollaterized loans, which were only provided by the consumer finance companies. At the same time, consumer finance companies had an advantage over the banks as they had a wider network of loan offices and had a reputation for quicker loan approval. 3. Japan – Regulatory elimination of ‘grey zone’ lending Significant change is expected in the consumer finance sector of Japan, as new regulations affecting consumer finance companies were passed in December 2006, and are to be withheld by the year 2009. The main crux of the new regulation would be that it lowers that maximum allowed interest rate chargeable on uncollaterized consumers. While the interest rate cap on consumer loans were capped at 20% by the Interest Rate Restriction law, the Capital Subscription law stated that a rate of 29. 9% could be charged, in the event that a written consent to the charges was provided by the consumer. Due to this law, several consumer finance companies in Japan have been providing loans to poor credit clients, at interest rates charged within the ‘grey zone’ (20%-29. 9%). What this new legislation entails would be that these consumer finance companies will need to adapt and reinvent themselves, as they can no longer depend on the ‘grey zone for survival’. What can be expected would be shakeout of the smaller consumer finance companies, consolidation as well as diversification of products. 3. 2 Japan – Regulatory Changes The Japanese Diet revised legislation regarding the Money Lending Business (MLB) law. A previous ceiling of 29. % for consumer loan interest rates set by the Capital Subscription law was repealed and reduced to 20%. This coincides with the ceiling set by the Interest Rates Restriction law, which has an interest rate cap of 20% per annum for such loans. Even then, this cap is only applicable for loans of up to ? 100,000 and below. Fo r loans with principal amounts ranging between ? 100,000 and ? 1,000,000, the cap is only 18% per annum. Loans with principal amounts over ? 1,000,000 are charged a maximum interest rate of 15% per annum. At the same time, the Bank of Japan has in recent years opted to abandon their zero-interest rate policy. At the moment, their interest rates have been set at 0. 5%. It is yet to be seen if there will be any increase in this rate, as it will probably depend on the performance of the Japanese economy as it adapts to this change, as well as the USA downturn. But essentially, with the bottom line raised and the top lines lowered, consumer finance companies are seeing their margins diminishing. The amendment also includes tighter entry restrictions for consumer finance companies, return of excess interest payments made to consumers, as well as restricts the maximum debt a consumer may hold to only one-third of his annual income. At the same time, the lid has been left open for more restrictions to be implemented between now and 2009, during which enforcement for the new regulation is going to be implemented. 3. 3 Japan – Effects on Performance In response to the new legislation, the industry has been suffering since. An estimated loss for the combined consumer loan sector for the fiscal year of 2006 has been made at ? 3 trillion. This can be directly attributed to the diminished market segment as well as several requests for refunds of excess loans from existing consumers. With stock prices of the 4 major players in the industry tumbling even before the announcement of the December 2006 ruling, mostly as a pre-emptive reaction, the situation is dire. This has left the consumer finance companies with the option of either leaving the market, or restructuring themselves to suit the new environment. The two main strategies for remaining in the sector would be expansion and diversification. 3. 4 Japan – Expansion At moment, there is estimated total of 10,000 registered money-lenders in Japan. Of these, there are only 4 major players (Aiful Corp. , Acom Co. , Promise Co. Takefuji Corp. ) that are currently listed on the Japanese stock exchange, whilst the rest are all individually casting small shadows. However, considering the increased requirements for operations as well as the diminished margins, it is now harder to maintain operations as a small player. More sophisticated risk management and cost-cutting are all necessary aspects that need impleme ntation for survival. It is expected that a large proportion of these smaller companies will eventually consolidate to be able to mount a substantial fight for survival or be forced to cease operations. Current estimates are that the eventually, Japan will only be left with 3,000 consumer finance companies. Already, that trend is starting to take shape. The current estimate of 10,000 registered money lenders have already dwindled from a previous figure of 14,000 as of February 2007. Two of the larger players, Acom and Promise have also taken a step further than anyone else in the industry, by negotiating partnerships with major banks, Mitsubishi UFJ Financial group and Sumitomo Mitsui Financial Group respectively. This strengthens their competitiveness, as these consumer finance companies will be able to provide the bank with their expertise in handling smaller and riskier consumer loans, whilst the banks will be able to support these companies as they transcend into a more developed state. 3. 5 Japan – Diversification of Products Traditionally, the Japanese consumer finance companies could be classified into two main group; those dealing in consumer loans; and those providing credit card services. While the former group has been hit hard directly by the new regulation, the latter has been relatively unscathed. The main reason would be that interest rates for credit cards were already below the 20% limitation. Consumer finance companies are now finding that there is an unexplored market that they can now explore, to make up for their losses in the consumer loan segment. To compound incentives for this strategy, the credit market has yet to truly blossom in Japan yet, due to a prior preference for cash instead. For example, credit card shopping only accounts for 10% of consumption in Japan, and this is relative to the 25% figure for the United States. 3Finance companies in USA There are many companies in the USA which provide consumer and business finance services in all sectors of the financial markets. Being the world’s largest financial market, USA has a very diverse group of finance companies that cater to auto, personal, small enterprise, insurance, and mortgage lending, among others. Citi Financial, HSBC Finance, GE Money, Prudential Finance, Zurich Financial, and Capital One are just a few examples of such finance companies. Just as in Singapore and other nations, these finance companies typically serve clients who are either too small or have poor credit ratings to obtain loans from the larger banks. The consumer finance industry in the USA is too large to be discussed in full detail in this report. Hence we will only be discussing a particular type of finance company which in the past year has come under scrutiny from all corners of the financial markets – subprime mortgage lenders. While major commercial and investment banks have all taken in losses amounting to USD 170b from writing down Colleteralized Debt Obligations and Mortgage Backed Securities, mortgage finance companies in the USA have mostly been responsible for the origination of such losses. 3. 1 USA – Subprime mortgage lending by finance companies Subprime mortgage lending by finance companies enabled consumers in the USA with poor credit histories to obtain loans to purchase homes with higher interest rates than that charged by banks. These consumers were previously unable to obtain such loans from the major banks and lenders due to their poor credit histories. To entice consumers to accept such higher interest rates, these finance companies typically include ‘teaser rates’ during the initial periods of the loan where the interest rates were lower, and the rates were then subsequently increased significantly after the introductory period. Because many consumers could no longer afford the high interest payments after the introductory period, many were forced to refinance their subprime loans with another subprime loan. This was acceptable pre-2005 since housing prices were on the rise, and this meant that home owners were building equity which enabled them to refinance loans easily. However, after 2005, home prices started to decline and fell below the value of the loan, and thus could not be used as collateral for refinancing. A steep rise in defaults and foreclosures caused more than 100 finance companies in the US to file for bankruptcy beginning late 2006. Even New Century Financial Corporation, then the nation’s second largest mortgage lender, was not spared. Excessive risk taking and making loans to subprime customers meant that such finance companies were exposing themselves to moral hazard excessively. 3. 2 USA – Securitization of subprime loans Many a subprime finance company did not actually hold on to the subprime loans as assets after making them. Instead they securitized, or sold off the loans to issuers and special purpose vehicles. These financial vehicles bought these loans and other investment grade instruments and repackaged them into the CDOs and MBSes that were to blame for the credit problems in financial markets today. These instruments were subsequently bought up by investment and commercial banks, and hedge funds, due to the impression that the risk from the subprime loans have been adequately spread out. However, this was not the case, since once defaults and foreclosures started to hit the issuers, the values of the CDOs were compromised, resulting in huge write downs by banks. What followed was a large credit crunch in financial markets, the effects of which are still unresolved today. Hence, what was supposed to be a mortgage finance sector problem has been spread to all areas of the financial markets through loans securitization, which was started by finance companies in the US. Regulatory Issues The Finance Companies Act (Cap. 108) was established in 1967 to regulate the growing finance companies sector. Listed in the Act are several restrictions that limit the activities of the finance companies. The purpose of these limitations is to protect investors, by controlling the exposure of the company to riskier asset classes and transactions, since finance companies are less able to diversify such risks away than the major banks. These limitations may include capital structure requirements, restrictions on dealings, necessary approval for expansion and others as well. In essence, the provisions within the Finance Companies Act require that finance companies seek MAS for approval to engage in activities other than the most basic lending and depositing services. Since the major banks have a similar set of banking rules and regulations to adhere to, we will be focusing our discussion on a few key regulatory provisions which are specific to the Finance Companies Act. One regulation of particular interest has already been briefly mentioned in the previous sections of this report. In s7 of the Finance Company Act, there are strict capital requirements in place for finance companies. S7 provides that a registered finance company will need a minimum of $50 million in issued and paid up capital. What this requirement does is to limit the industry to only the stronger players. This requirement, as put in place since January 1995, might be responsible for the running out of the several smaller finance companies, and serves as well as a substantially high barrier to entry. S23 of the Finance Companies Act lists out some of the prohibitions of dealings by finance companies. In particular, s23(1)(e) and (f) aims to limit the amount of risk which the finance companies are able to take. This is done by restricting the issuance of substantial loans which exceed 50% of their total credit facilities, and also by prohibiting unsecured loans and advances exceeding S$5,000. It can be seen from these regulations that MAS understands the higher risk nature of the customers served by finance companies, and tries to protect both the customers and the companies from over-exposure to such risks. While s23(1)(b) prevents investments in foreign currency, gold and other precious metals, and s23(1)(c) prevents any acquisition of shares, stock, debt and other convertible securities in foreign denominations, exemption from these restrictions might be granted as stated under s23(2)(a)&(b). S23(2)(a)&(b) states would be that concessions in these aspects might be granted depending on the ruling of MAS. Furthermore, s53 gives room for the authorities to exempt a finance company for some or all of the provisions in the Act. We feel that this shows that MAS recognizes that not all finance companies are ready to take on such dealings yet, but that they are not shutting the door on such transactions in the future. Prospects & Future developments of Finance Companies Effects of the credit crunch In the short run, we would expect that finance companies would experience a udden growth in their revenue segments due to commercial banks tightening credit. The sub-prime meltdown in the United States has severe implications for all industries. However, rather than affecting the finance companies negatively, we foresee that there is a possibility that they might profit from it instead. With several banks being hit severely, we are currently observing the beginnings of a credit crunch as banks start to tighten their credit and adopting a more conservative stance in negotiating loans. This would even be true in Singapore, as we uncover the extent of Asian banks exposure to collateralized debt obligations. DBS Bank has already booked S$200 million worth of write-downs while UOB has S$45 million worth of write-down. These commercial banks have reportedly tightened credit measures with more reluctance to take on risky debts. What this might imply would be that more consumers will have their loan applications rejected from banks, and will therefore look to finance companies for their capital needs instead. At the same time, the market for loans is expected to grow by 13% in 2008. While this is lower than the 20% growth recorded in 2007, it represents that the market is still expanding despite the tightening of credit by major lenders. At the moment, the total loans made by finance companies are sitting at S$8,389 million. The total loans made by commercial banks, however, stands at S$201,424 million. The above figures indicate that if banks were to lose even a small percentage of their market share in loans to finance companies, this would translate to a potentially significant percentage of loans growth for these finance companies. Hence, if finance companies are able to take advantage of the loss in confidence of the banks, and the tightening of credit by said banks to capture the market left behind by the banks in the wake of the sub-prime crisis, there will be room for growth. Consolidation of the segment In the long run however, we adopt a more pessimistic stance towards the development of finance companies. One of the trends that we mentioned was that of consolidation of the finance companies in the past decade. Three such finance companies remain and have performed relatively well over the past few years or so. However, commercial banks are encroaching into traditional strongholds of these finance companies, such as SMEs and smaller personal loans which were once considered unprofitable to service. This is as commercial banks now want to profit from the higher yielding consumer base that these finance companies rely on as they continue to look into other profitable segments that they have neglected in the past. DBS, OCBC and UOB have in the past decade started moving towards these opportunities that they had forgone in the past. There is also increased competition from new entrants such as GE Money and SingPost who now offer consumers more consumer finance choices instead of the remaining 3 finance companies. This increased competition may reduce revenues in the future, especially for Singapura Finance and Sing Investments, since Hong Leong is far and away the major player in this sector and may be able to better cope with these changes. These 2 smaller firms might find it more difficult to continue to perform as well when banks use their financial muscle and influence to try and break into this market. Thus, we foresee a real possibility of further consolidation and perhaps a change in the structure of the future finance company here in Singapore. Hong Leong Finance is special, in the sense that it is much bigger than the other finance companies in the scene. To brand it as a finance company in the same breath as the other 2 does not do Hong Leong’s reputation justice. However, when compared to the commercial banks, they still do not measure up as significant competition. The other 2 finance companies seem to stand little chance should the commercial banks and corporations start infringing on this niche segment that they have survived on. The implications of these is the sign that the finance companies are in a sunset industry and with the exception of Hong Leong, finance companies might struggle to eke out an existence once competition gets more intense. It may revert to a situation where the smaller firms have to merge or be acquired by a larger finance company, in this case, Hong Leong, or risk not being able to survive in the segment. Hong Leong, as mentioned, is unique in the sense that it is such a dominant force in the finance company sector, but yet unable to make the step up to be on the same level as even the smaller commercial banks. In the near future, we could see Hong Leong forming an entire classification on its own, as the alternative to the commercial banks. Following the entry of commercial banks and other competitors into its traditional revenue segments, Hong Leong has been actively looking for other opportunities to diversify its revenue generating segments. We have mentioned some of these earlier in the report. Recently, Hong Leong was commissioned to take up underwriting duties which provides it with a new area of development where they could vary their income sources. It has also established a wealth management arm in light of the growing sector in Asia as a whole.