The Business Activities Study Free Essays

string(151) " manager Troy Dexter who is responsible for the investment decisions of his fund and who chooses between the above asset classes \(asset allocation\)\." This case study is related to the business activities of a hedge fund which performs a macro investment strategy. Its investment manager Troy Dexter seeks for profits which arise from shifts in the real economy. As he considers an end of the Australian housing market boom as likely, he anticipates that Australia’s overall economic growth will slow down, whereas the prices for energy will go up. We will write a custom essay sample on The Business Activities Study or any similar topic only for you Order Now In reaction to those expectations he decides to purchase treasury bonds and stocks of energy companies Against this background Case Study 1 is aimed at classifying Troy Dexter’s two investment decisions as either direct or indirect investments. Such a classification provides different results depending on the party from whose perspective it is assessed. Thus, it is the purpose of the following section of this work to distinguish between the terms direct and indirect investment based on the corresponding point of view using practical illustrations whenever possible. This is to be done after clarifying key terms associated therewith first. Term definition A hedge fund is an alternative investment vehicle which excessively uses financial instruments such as derivatives and leverage and in which an aggressive management strategy is usually applied (Fung Hsieh, 2004). As Capocci and Hà ¼bner (2004) state, a hedge fund’s major purpose is to generate active return (called alpha) for its typically wealthy investor base. As hedge funds are less exposed to capital market regulation than other fund types, they are able to generate – on average – higher returns, but associated with higher levels of risk as well (Lederman, 2012). Troy’s decision to purchase energy stocks is related to his expectation of rising oil prices. Given his expectation turns out to be correct, the share price of oil producing companies will increase. The term â€Å"energy stock market†, however, comprises not only oil producing companies, but all other kinds of energy producing firms, as well as energy infrastructure and energy service providers, too (Henriques Sadorsky, 2008). As Henriques and Sadorsky (2008) note, a rise in the oil price will not only increase the share price of oil and gas producers, but also the market value of those firms which offer substitutes (e.g. solar and wind energy) will increase. This holds as their products become more competitive in such an environment and their turnover is likely to increase. Stockholders who have purchased such stocks directly for their own stock portfolio before a rise in the oil price has taken place, will profit. Their profits, on the one hand, consist of the 4 chan ce to sell those shares at a higher price at the stock market and, on the other hand, of (increased) dividend payments (Bodie, 2013). Treasury bonds purchased in the debt market are usually characterized by less risk than any kind of stock market investment (Sharpe et al., 1999). Given Troy’s expectation about the future economic environment of Australia, his decision to purchase such long-term fixed interest debt instruments is reasonable. This holds as they are issued by the Australian government which is very unlikely to default (Chaudhuri ; Smiles, 2004). On the contrary, as the Australian government has several tools at hand which allows it to make interest payments as promised (e.g. increase taxes), a treasury bond is considered as one of the safest investment forms available in the market (Hull et al., 2005). Investors who have decided to hold treasury bonds in their stock portfolio (direct security investment) can expect a fixed interest on their investment. The historic development of the Australian 10-year treasury bond is illustrated below.   Source: Reserve Bank of Australia, 2017. From this graph it can be derived that the long term trend of Australian treasury bonds is downward sloping. Starting from a level of more than 10.0% in 1995, the interest rate went down to about 3.0% in 2013. Interest rates in the short run are stagnating on a relatively low level of about 3.0%. Based on the fact that Troy Dexter has founded the hedge fund in 2009, it can be stated that his decision was right in the short run: Interest rates, indeed, went up from 4.0% to 6.0% between January 2009 and January 2010. However, it has to be noted that in the subsequent years his expectation turned out to be incorrect: Starting from January 2011, interest rates on the Australian 10-year treasury bond went down to about 3.0% in January 2013. This implies for Troy Dexter as the fund manager that his hedge fund may have generated losses from 2011 onwards as the interest rate of Australian treasury bonds have lacked his expectations. The figure adds value to the topic of this work as it illustrates that the fund manager’s decision to invest in treasury bonds could not have been a smart decision in the long run: Fund investors are indirectly suffering from this decision as they have decided to provide Troy Dexter with parts of their funds which are now invested in a non-optimal security. 1. Direct vs. indirect securities – Northwest Capital Management perspective In order to classify Northwest Capital Management’s investments in treasury bonds and energy stocks from the firm’s perspective, one has to understand the business concept of capital management firms first. Firms such as Troy Dexter’s hedge fund business aim at professionally managing private investor’s funds. They do so by investing customers’ money in a broad range of asset classes, restricted by particular investment goals (Fung ; Hsieh, 2001). However, as Brav et al. (2010) notice, the service such firms provide is not just related to the optimum asset allocation, but financial statement analysis as well as the monitoring of existing investments plays an important role, too. Hedge funds – in contrast to more conservative capital management firms – invest a relatively high percentage of its assets in risky asset classes such as the stock market of even emerging market economies (Jansen et al., 1998). The portfolio composition of an exemplary hedge fund is illustrated in the graph below. Source: Blair, 2001. The figure above already reveals that it is the hedge fund manager Troy Dexter who is responsible for the investment decisions of his fund and who chooses between the above asset classes (asset allocation). You read "The Business Activities Study" in category "Papers" It is important to understand that the private investor is not involved in the daily investment process of the hedge fund, but hands over any responsibility for the invested amount of money to Troy Dexter. 0.50% 0.50% 31% 19% 15% 14% 7% 6% 3% 2% 2% Strategy composition of a hedge fund Short selling Other Equity long/short Macro Relative value arbitrage Event driven Fixed income Convertible arbitrage Distressed securities/high yield Equity markets neutral Emerging markets 6 Derived from this line of reasoning it can be stated that Troy Dexter’s intended purchase of treasury bonds and energy stocks can be considered as a direct securities investment from the firm’s point of view. This holds, because there is no third party involved in Troy’s securities acquisition process (Bodie, 2013). In contrast, it is likely to be assumed that Troy himself owns a trading platform which he can use to exercise any stock market transactions personally and immediately. Even if Troy does not own such a trading platform, the consultation of a stock broker can still be considered as a direct securities investment from Northwest Capital Management’s point of view. This holds because a stock broker can simply be considered as an entity which executes buy and sell orders on behalf of someone else for a particular fee or commission (Pollock et al., 2004). As Pollock et al. (2014) note, brokers are not allowed to alter the order, but execute the transaction only. 2. Direct vs. indirect securities – Investor perspective Taking the viewpoint of an investor in Troy Dexter’s hedge fund, Troy’s investment decisions can clearly be considered as indirect investments. As stated above, the fund manager decides about the allocation across available asset classes. The investor knows about the financial risks tied to Troy’s investment decisions from the prospectus and may have expectations about a desired return, but cannot alter Troy’s daily sell and buy orders. However, this would be a vitally important characteristic of a direct securities investment. As soon as customers have decided to invest in the fund, they have to sign a declaration of consent in which they transfer the responsibility for managing their funds to the portfolio management team (in our case to Troy Dexter) (Philpot ; Jonson, 2007). Not the investors themselves engage a broker who carries out financial market transactions, but Troy Dexter does that on behalf of them using his financial market knowledge. In this context it is important to note that – although restrictions are less strict in a hedge fund – fund managers have to stick to the proposed fund objective and are not allowed to invest in anything which is not related to the praised goal of the fund, although it may be a lucrative investment (Philpot ; Jonson, 2007). This assignment of any kind of right to alter the investment decision related to maximizing investors’ own monetary wealth underpins the indirect nature of a fund investment from an investor’s point of view. The incentives for customers of Northwest Capital Management to provide Troy Dexter with the rights to manage their savings on behalf of them (indirect investment) is related to Troy Dexter’s expertise about financial markets (Capon et al., 1996). Additionally, as Capon et al. (1996) state, the pooling of large amounts of money in the hedge fund provides customers with a lot more market power than they would have when investing on their own. This shows that although private investors cannot actively decide about each investment decision on their own, the indirect securities investment through Troy Dexter’s Northwest Capital Management is utterly worthwhile for its investor base. It can be summarized that investing in a hedge fund implies no direct securities investment from the private investors’ perspective. This is compounded by the fact that private investors of a hedge fund do not own any securities themselves (Droms Walker, 1996). Instead, those securities are entirely controlled by the fund managers who either own a trading platform themselves or contact brokers to carry out deals which are likely to benefit the fund’s investor base. Shareholders are not able to access the fund’s existing investments on a daily basis, but have to rely on the fund managers’ expertise (Droms ; Walker, 1996). This trust, however, may be the basis for higher returns compared to investing individually on any kind of capital market. 7 Furthermore, the indirect securities investment from the investor’s point of view implies that each single investor gains or loses proportionally to his or her investment in Troy Dexter’s hedge fund. This fact stands in sharp contrast to a direct securities investment in which an investor is on his own and has a claim on any gains and losses related to this investment (Bodie, 2013). Instead of having the chance to convert profits right away in a direct securities investment, an indirect investment via a fund prohibits an investor from this right and makes him dependent on the decisions of the fund manager. Recommendations: A common way of how to classify securities is to divide them into either direct or indirect securities. In this context it is of particular importance to distinguish between either an investment manager’s or a private investor’s perspective (Davis, 2004). Conclusion: The statements above have shown that the classification of any kind of investment as being either direct or indirect depends on the party from whose perspective such a classification is made. In the case of a hedge fund one can categorize an investment as an indirect one from the investor perspective and as a direct one from the fund manager’s perspective. This holds as it is not the investor who makes any kind of investment decision, but the fund manager on his behalf. The investor puts trust in the fund manager’s capital market expertise when deciding to invest in a fund and – at the same time – cedes any kind of rights to alter the fund manager’s perspective on the future development of the capital market. In contrast, the fund manager, on a daily basis, has to directly â€Å"step† in the capital market and has to sell or buy certain types of investments. References Blair, F. (2001): Managing the equity portfolio: South-Western College Publishing. Bodie, Z. (2013): Investments: McGraw-Hill. Brav, A.; Jiang, W.; Kim, H. (2010): Hedge fund activism. A review. In: Foundations and Trends in Finance 4(3), p. 185–246. Capocci, D.; Hà ¼bner, G. (2004): Analysis of hedge fund performance. In: Journal of Empirical Finance 11(1), p. 55–89. Capon, N.; Fitzsimons, G. J.; Prince, R. A. (1996): An individual level analysis of the mutual fund investment decision. In: Journal of Financial Services Research 10(1), p. 59–82. Chaudhuri, K.; Smiles, S. (2004): Stock market and aggregate economic activity. Evidence from Australia. In: Applied Financial Economics 14(2), p. 121–129. 8 Cristodoulou, A. (2016): The internal rate of return problems and manners of solution. In: Prospettive e Proposte Mediterranee-Rivista di Economia, Agricoltura e Ambiente. Online available at http://www.iamb.it/share/img_new_medit_articoli/802_32cristodoulou.pdf. Davis, E. P. (2004): Institutional investors. In: MIT press. Droms, W. G.; Walker, D. A. (1996): Mutual fund investment performance. In: The Quarterly Review of Economics and Finance 36(3), p. 347–363. Fung, W.; Hsieh, D. A. (2001): The risk in hedge fund strategies. Theory and evidence from trend followers. In: Review of Financial Studies 14(2), p. 313–341. Fung, W.; Hsieh, D. A. (2004): Hedge fund benchmarks. A risk-based approach. In: Financial Analysts Journal 60(5), p. 65–80. Hasan M. (2013): Capital budgeting Techniques used by small manufacturing companies. In: Journal of Service Science and Management. Henriques, I.; Sadorsky, P. (2008): Oil prices and the stock prices of alternative energy companies. In: Energy Economics 30(3), p. 998–1010. Hull, J. C.; Preduescu, M.; White, A. (2005): Bond prices, default probabilities and risk premiums. In: Working paper. Jansen, A.; Mathieson, M. D. J.; Eichengreen, M. B. J.; Kodres, M. L. E.; Chadha, M. B.; Sharma, M. S. (1998): Hedge funds and financial market dynamics 166. Jung, K.; Yong-Cheol, K.; Stulz, R. M. (1996): Timing, investment opportunities, managerial discretion, and the security issue decision. In: Journal of Financial Economics 42(2), p. 159-186. Layton, A., Robinson, T., Tucker, I. (2015): Economics for today (5th ed.). Thomson, South Melbourne, Australia. Lederman, S. J. (2012): Hedge fund regulation. Philpot, J.; Jonson, D. T. (2007): Mutual fund performance and fund prospectus clarity. In: Journal of Financial Services Marketing 11(3), p. 211–216. Pollock, T. G.; Porac, J. F.; Wade, J. B. (2004): Constructing deal networks. Brokers as network architects in the US IPO market and other examples. In: Academy of Management Review 29(1), p. 50–72. Reserve Bank of Australia (2017). Online available at http://www.rba.gov.au/statistics/historicaldata.html. Rudolph, S. (2008): Net Present Value Rule in comparison to the payback and internal rate of return methods. In: Working Paper. Sharpe, W. F.; Alexander, G. J.; Bailey, J. V. (1999): Investments: Upper Saddle River, NJ: Prentice-Hall 6. Titman, Sheridan (2015): Financial Management. Principles and Applications. (7th ed.). Frenchs Forest, NSW: Pearson. How to cite The Business Activities Study, Papers

Kraft Dinner in Canada-Free-Samples for Students-Myassignmenthelp

Question: Discuss about the Canadian cuisine foodways and national identity. Answer: The food product known as Kraft Dinner in Canada is a nonperishable, packaged dry macaroni and cheese product. The produced first came into the market in the year 1937 and is known for the innovation brought about in making the product. The present paper evaluates whether Kraft Dinner is emblematic of Canadian cuisine. It highlights the global and Canadian commodity chain that brings this product in an economical and easy to prepare fashion. The paper further highlights the industry, technologies and marketing strategies that enable this product to be constructed as a convenience food. Lastly, the social relations that the product enables or disables is brought into focus. Kraft Dinner was first introduced by James Lewis Kraft under the same name in both US and Canada while it has now developed into different other formulations. The product had the original idea of combining the nonperishable dried macaroni noodles with a processed cheese powder for so that he dish could be made by preparing the pasta and adding the milk, butter and cheese powder. The product is a major brand of Kraft and Heinz merger after Kraft Foods Group Inc. merged with the H.J. Heinz Company. Kraft Foods Group Inc. has its core business in cheese, dairy, beverage and convenience food sector. The timing of the launch of the product had significance in relation to the World War II as rationing of dairy products and enhanced dependence on meatless products created a captive market for Kraft Dinner (Chapman 2012). Kraft Dinner is designated as K.D. in Canada and has a different name in other markets. Thus, the Canadian advertising and marketing platform is a made-in-Canada initiative. Kraft Dinner has been known to be the de facto national dish of Canada. Records indicate that Canadians are responsible for buying almost 1.7 million of the 7 million boxes of the product sold each week on a global scale. The meal has been denoted to be the most popular grocery item in Canada where it is an iconic status, becoming a generic trademark for cheese and macaroni. The product was marketed at the initial stage with the slogan "a meal for four in nine minutes for an everyday price of 19 cents. The product is promoted strongly towards children and teenagers on television. Kraft has advertising programs that intend to make the food product tempting to newly arrived immigrant groups in Canada. Newman (2017: 32-33) pointed out that Canada is a large wheat producer, with high production of wheat used for the various food products developed through innovation. Further, the country has a significant dairy sector contributing to the large production of milk and cheese in the country. Canadians have a love for their local food and embrace the culture brought about through food. Kraft Dinner has taken this opportunity to explore the scope of creating a large market for food products made chiefly from these two ingredients. The modern food industry focuses on the common mantle of humble servings that make life convenient for the individuals, irrespective of whether he is an aristocrat or a common person. The food industrys main focus for its products is a convenience, better explained as We do it all for you. Reflecting on this idea, it can be stated that the success of Kraft Dinner lies in the fact that it has been profoundly viewed as a convenience food that targets a large section of the population. Cheese plays a large dietary role in the lives of Canadians, and when it comes in a form that is easily available and digestible, it builds an intense and intimate relationship with the citizens, like Kraft Dinner. Canadians are divided into two categories; food secure Canadians and food insecure Canadians. While the former might associate Kraft Dinner with comfort, the latter might associate the same with discomfort. These differences arise from the fact that Kraft Dinner consumption by food secure Canad ians is voluntary (Belasco 2008: 60). Most people in Canada are referring to considering changes in how they are loyal towards a certain food product and focusing on bringing alterations in them. The change is more than cosmetic as it signals challenge that old food product companies might grapple with their best products in the coming years (Penfold 2008: 62). This key insight might hold implications for Kraft Dinner as well since the companys research indicates that its relevance among younger citizens might plummet. For a brand that is mostly dependent on the affection of its consumers, it might lead to decrease in the sales over the years. In conclusion, Kraft Dinner can be stated as emblematic of Canadian cuisine. The product is undergoing a transformation in the manner in which it makes an impact on the lives of its consumers. Ignorance among a section of the population might be accountable for a dominant response towards the product in future. References Belasco, Warren. 2008. Convenience: the global food chain. Pp. 55-78 in Food: the key concepts. Bloomsbury Publishing. Chapman, Sasha. 2012. Manufacturing Taste The Walrus. Retrieved February 14, 2018 (https://thewalrus.ca/manufacturing-taste/) Newman, Lenore. 2017. The language of cuisine. Pp. 20-35 in Speaking in cod tongues: a Canadian culinary journey. Regina SK: University of Regina Press. Penfold, Steven. 2002. Eddie Shack was no Tim Horton. Pp. 48-66 in The Donut: A Canadian history.

Comparing the Ideologies of Karl Marx, Emile Durkheim, and Max Weber Essay Example

Comparing the Ideologies of Karl Marx, Emile Durkheim, and Max Weber Paper Comparing the Ideologies of Karl Marx, Emile Durkheim, and Max Weber Karl Marx, Emile Durkheim, and Max Weber were three historical sociologists. Their views have become world renown and have shaped many ways of interpreting the social structure of many modern societies. This essay will take a glimpse into the three sociologists’ ideals and expose the similarities and differences they may have. Karl Marx’s view of society was based around the economy. All other social structures according to Marx, such as religion, family values, and politics stem from the base, the economy. Religion played no part at all in Marx’s sociological views. He is known as an atheist. He believed that religion was nothing more than a burden on society. â€Å"The economy that forms from the means of production results in the division of labor and forms property† (Simon 1). Division of labor can be described as the way in which tasks are divided in a society. Certain people are assigned certain tasks which help to make sure that the social structure progresses smoothly. As society becomes more advanced, the division of labor becomes more advanced, because more tasks become necessary for society to stably exist. We will write a custom essay sample on Comparing the Ideologies of Karl Marx, Emile Durkheim, and Max Weber specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Comparing the Ideologies of Karl Marx, Emile Durkheim, and Max Weber specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Comparing the Ideologies of Karl Marx, Emile Durkheim, and Max Weber specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Therefore, in Marx’s opinion, the economy grows and advances society which fuels the division of labor that is necessary for harmonious living. Marx believed that social struggle was the main cause of social evolution. In a society there is always a group that is in some way oppressed. If we look back just a few hundred years we see this in slavery, and before that serfdom. So how does oppression promote social change? â€Å"It is the ruling economic class that determines the dominant ideology in a society†¦ And it is class interest that the proletariat must oppose with revolution. †(Simon 2). The upper class in society rules over all the lower classes. When the oppression becomes an unbearable horror for the lower class, they must revolt, according to Marx. We saw this with both given examples. Serfs often fled from their lords, and slaves sought refuge in non-slave states and sometimes even killed their owners. In the case of slavery, there was a complete societal split between the north and the south in America. The main dispute between the two sides was the subject of slavery. But if not for the slaves revolting and feeing, maybe no action would have been taken. This is Marx’s view of social evolution at its finest. The lower class fought for social freedom, and American society was forever changed. So basically, Marx’s cycle of social change is simply Oppression, revolution, uprising, and then the cycle repeats itself as another lower class becomes oppressed. Durkheim believed that social order is obtained through social integration, which is the extent to which the members of a society are held together. â€Å"Durkheim advances his theory of social transition where he argues that social order is maintained through social integration and regulations in a social equilibrium. All nations develop normative behavior patterns and belief systems in the evolutionary change process. During the transitional period the diffusion of new norms and values disrupts the equilibrium of traditional societies. †(Zhao 2). Durkheim believed that society is held together by social integration, but when society is evolving, chaos takes over until new social norms are set. After these social norms are integrated into the new society, social equilibrium is once again achieved; that is until the next social evolution. This in between stage of chaotic change is fueled by what Durkheim called anomie. Anomie is described as a breakdown of social norms regulating individual behavior and social interaction. †(Zhao 4). Durkheim claimed that is human nature to act in a chaotic manner and to seek evolution. The only way he believed that order was possible was through social integration. Religion was a factor in the sociological views of Durkheim. â€Å"Religion, in this ma nner, contributes to the constitution and protection of social order by supplying a moral order. That is to say that ‘since society will always require periodic reaffirmation, religion is an indispensable, permanent social fixture. †(Mazman 10). Durkheim does not hint whether he himself is religious or not, he simply states that religion is necessary to have social integration. He claims that a moral order is necessary in society. It is a set list of rights and wrongs for people to live by. This order is never changed or even questioned by the members of society in times of peace. This moral order cannot simply be insisted by a ruler of some sort, it is much more complex than that. The moral order must come from an unquestionable source. This is why religion is necessary. With religion ruling people, they are threatened not with a punishment in this life, but with eternal damnation. People fear what they do not understand; therefore religion is the only thing that can provide absolute social order. A higher being that no person can see or hear cannot be questioned. The fear of eternal punishment will force a large majority of members of society to submit to the moral and social order. Durkheim insists that religion is one of the greatest ways to prevent anomie which leads to the inevitable society revolutionizing chaos. Max Weber greatly opposed Karl Marx’s views on religion and economy. Weber believed that the economy was certainly not even close to the center of society. â€Å"Economies result from communities, which are arranged in such a way that goods, tangible and intangible, symbolic and material, are distributed. Such a distribution is always unequal and necessarily involves power. †(Simon 8). So in Weber’s opinion material possessions are the root of inequality. Nothing is distributed equally and therefore, leads to social injustice and in some cases oppression. Weber believed that religion was responsible for change in society. â€Å"For Weber, religion, because it calls forth a type of personality through beliefs in ethical values, affects social life and interactions. These ethical values and religious ideas, in turn, are affected by social, economic and political conditions in a given society. †(Mazman 13). Weber’s view on religion is similar to that of Durkheim. Weber believed that religion gave society a set moral order. Weber also claimed that as society advanced the religious views advanced to somewhat modernize the social order. Weber’s work is therefore an invitation to see the history of political institutions, the history of religions or the history of morals as guided by a diffuse program aiming at defining institutions, rules, etc. which will most efficiently respect the dignity and vital interests of all. †(Boudon 6) Weber also dug even deeper. He claimed that certain religions prospered more than ot hers. He actually did prove this. Weber showed that Protestants had the best religion, not in the sense of religious views, but socially and economically. Protestantism provided modern individuals with coherent, meaningful, ethical conduct in terms of seeking salvation and God’s blessing in their worldly activities. †(Mazman 13). The Protestants believed in vocation. They believed that whatever occupation they had in life was not simply by chance, but they were called to it. They were what most would call ‘workaholics’ who dedicated every free second of their time to work. This made the Protestants statistically the most financially well-off group in most societies. This goes back to Weber’s view of the social structure. The Protestants were the wealthiest so they would be the leaders of society. So as I have shown, these three sociologists, Karl Marx, Emile Durkheim, and Max Weber, had world renowned views of society. They all had points that were unquestionable yet others that were flaky at best. We often saw views of each man overlapping. One cannot help but to ponder what if another sociologist came along and took the best parts of their works and put the pieces together. Would the perfect sociological view be formed? Only time can tell. ?

Chlorine From Periodic Table of the Elements

Chlorine From Periodic Table of the Elements Atomic Number: 17 Symbol: Cl Atomic Weight: 35.4527 Discovery: Carl Wilhelm Scheele 1774 (Sweden) Electron Configuration: [Ne] 3s2 3p5 Word Origin: Greek: khloros: greenish-yellow Properties: Chlorine has a melting point of -100.98Â °C, boiling point of -34.6Â °C, density of 3.214 g/l, specific gravity of 1.56 (-33.6Â °C), with a valence of 1, 3, 5, or 7. Chlorine is a member of the halogen group of elements and directly combines with almost all of the other elements. Chlorine gas is a greenish yellow. Chlorine figures prominently in many organic chemistry reactions, particularly in substitutions with hydrogen. The gas acts as an irritant for respiratory and other mucous membranes. The liquid form will burn the skin. Humans can smell as low an amount as 3.5 ppm. A few breaths at a concentration of 1000 ppm is usually fatal. Uses: Chlorine is used in many everyday products. It is used for disinfecting drinking water. Chlorine is used in the production of textiles, paper products, dyes, petroleum products, medicines, insecticides, disinfectants, foods, solvents, plastics, paints, and many other products. The element is used to manufacture chlorates, carbon tetrachloride, chloroform, and in the extraction of bromine. Chlorine has been used as a chemical warfare agent. Sources: In nature, chlorine is only found in the combined state, most commonly with sodium as NaCl and in carnallite (KMgCl36H2O) and sylvite (KCl). The element is obtained from chlorides by electrolysis or via the action of oxidizing agents. Element Classification: Halogen Chlorine Physical Data Density (g/cc): 1.56 ( -33.6 Â °C) Melting Point (K): 172.2 Boiling Point (K): 238.6 Appearance: greenish-yellow, irritating gas. At high pressure or low temperature: red to clear. Isotopes: 16 known isotopes with atomic masses ranging from 31 to 46 amu. Cl-35 and Cl-37 are both stable isotopes with Cl-35 as the most abundant form (75.8%).Atomic Volume (cc/mol): 18.7 Covalent Radius (pm): 99 Ionic Radius: 27 (7e) 181 (-1e) Specific Heat (20Â °C J/g mol): 0.477 (Cl-Cl) Fusion Heat (kJ/mol): 6.41 (Cl-Cl) Evaporation Heat (kJ/mol): 20.41 (Cl-Cl) Pauling Negativity Number: 3.16 First Ionizing Energy (kJ/mol): 1254.9 Oxidation States: 7, 5, 3, 1, -1 Lattice Structure: Orthorhombic Lattice Constant (Ã…): 6.240 CAS Registry Number: 7782-50-5 Interesting Trivia: Chlorine leaks in containers are detected using ammonia. Ammonia will react with the chlorine and form a white mist above the leak.The most common natural chlorine compound on Earth is sodium chloride or table salt.Chlorine is the 21st most abundant element in the Earths crustChlorine is the third most abundant element in the Earths oceansChlorine gas was used as a chemical weapon during World War I. Chlorine is heavier than air and would form a deadly layer in low-lying foxholes and trenches. References: Los Alamos National Laboratory (2001), Crescent Chemical Company (2001), Langes Handbook of Chemistry (1952), CRC Handbook of Chemistry Physics (18th Ed.)

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

LAW - Essay Example Therefore, Grapes & Vines Winery could have delivered the wine anytime before May 1, as the contract did not limit their duty to perform only on May 1. However, they chose to do it in the last possible day – May 1. The fact that the delivery van was involved in an accident does not constitute an objective impediment to performing the contract (destruction of the subject matter of the contract cannot be used as an excuse in this case), as the winery most certainly had in stock enough bottles of wine to deliver them later that day to Elin. This is a certain fact, as the bottles were delivered in the afternoon of May 2. Moreover, immediately after the accident, the company should have called Elin and ask her if she would agree to a delivery of the bottles later that day or maybe on May 2. This would have solved the problem and avoid the unpleasant situation. Therefore, the Court should discharge the contract due to its material alteration and failure to substantially perform on b ehalf of the plaintiff (Grapes & Vines Winery). In this case, Elin’s contractual obligations would be also discharged and her not accepting the plaintiff’s tender later than the due date should not be considered as breach of contract. 2. I believe that in this case, time is not of the essence of the contract.

JAPANESE CIVILIZATION PowerPoint Presentation Example | Topics and Well Written Essays - 250 words

JAPANESE CIVILIZATION - PowerPoint Presentation Example According to the historical background of the Kamakura, religion was their center of governance and all their decisions were also to run in accordance with their religious rules. Hover much they tried to keep and safeguard their religious beliefs and policies, they still faced some challenges that almost messed up their religion (Kimura 206). The monks were to give directions as they follow but due to the high rate of women seduction, they could not make it as the monks fell into women trap hence leading to direction loss. As per my perception, the development of the Kamakura was mainly based on the stability of Buddhism as a religion. This is so because they had strong belief in their religion hence giving all the powers to their religious leaders. It can therefore be assumed that at one time, the Kamakura faced a lot of difficulties in relation to governance after the parting of some monks. The adulterous also lead to religion break up and this further in turn led to group split out. The Kamakura was therefore separated into different groups based on their beliefs and trust hence leading to the formation or re-establishment of religious beliefs and policies that were to be maintained at all

A literature review of Genetically Modified crops Dissertation

A literature review of Genetically Modified crops - Dissertation Example In 2008, GM crops were planted on almost 9% of the available farming land in different parts of the world (James 2008). According to The World Health Organization or WHO, genetically modi?ed organisms are â€Å"derived from organisms whose genetic material (DNA) has been modified in a way that does not occur naturally, e.g. through the introduction of a gene from a different organism. Currently available GM foods stem mostly from plants, but in the future foods derived from GM microorganisms or GM animals are likely to be introduced on the market. Most existing genetically modified crops have been developed to improve yield, through the introduction of resistance to plant diseases or of increased tolerance of herbicides† (WHO 2013). The technology used for creating GM organisms allows selective genes to be relocated from one organism into another of the same species, and between species that are non-related. Such processes are used for creating genetically modi?ed plants, whic h in turn produce GM food crops. The crop characteristics marked as desired for GM crops and aimed by genetic engineering are from those that are targeted by processes followed during conventional breeding. However, genetic engineering gives scope for direct transfer of genetic codes across different species owing to which characters that were earlier difficult to breed through natural processes, is now created easily under controlled conditions. Currently there are three types of traits clearly distinguished in GM crops. These comprise of the first-generation GM crops displaying vast improvements in agronomic characters, as for example, better resistance to diseases and parasites. Second-generation GM crops tend to show improved quality characteristics, as for example, increased levels of nutrient contents in the resulting food products. Third-generation crops tend to show characters with special productivity aimed at industrial or medicinal purposes (von Braun 2007). The potential benefits of GM crops are diverse. In the current context, that shows decreasing natural resources, it is important to maintain an increase in productivity values within worldwide agriculture for ensuring enough food availability and raw materials for a persistently increasing population (von Braun 2007). Various environmental benefits are also associated with GM crops. Besides these, technologies associated with the new seed technology have played significant role for increasing rural income and alleviating poverty levels in developing countries (Fan et al. 2005). Furthermore, GM crops that have greater nutritional values would help in the improvement of overall consumer health (Unnevehr et al. 2007). Despite these potential benefits, the creation and use of GM crops have raised strong opposition, especially in parts of Europe, while also spreading over to other countries through media messages, trade regulations, and activism by the various antibiotech groups (Paarlberg 2008). The primary issues concern potential health and environmental hazards, while reservations are also expressed on the possible negative social ramifications (Altieri 2001). As for example, many of the activists feel that rampant use of GM technology in the developing nations could result in undermining the traditional agricultural practice that is based on knowledge setups. With rising privatization in the arena of researches related to crop improvement and