What An Interesting Mustache, Mr. Trump - 984 Words

 ¨What an Interesting Mustache, Mr. Trump ¨ When Americans think of Muslims, most of us think of 9/11, the Paris attacks, and the war in the Middle East. Most of our generation has grown up with the War on Terrorism. We don t remember a time before  ¨Can Mr. Ahmed Come to the Security Office? ¨ and  ¨ISIS has killed another 400 People in an Attack Today†¦.† To us, the distrust and dislike of Muslims isn’t just normal, it’s commonplace. Americans took the 9/11 attacks personally while Muslims took the hit, with hate crimes still five times higher than pre-9/11 some fifteen years later (Washingtonpost.com). Islamophobia is so common that presidential candidates not only win supporters, but whole states with their racism and islamophobia. The†¦show more content†¦The United States Holocaust Memorial Museum believes that two out of every three Jews in Germany would be dead by the end of the Holocaust. As Americans, it’s easy for us to look at what happened in Germany and tell ourselves that it would never fly here and now. Americans also like to forget about slavery and Japanese internment camps, so it s not unprecedented that we are ignoring what we’re doing to Muslims now. Post 9/11, America started a war against Muslims for the actions of a few radical people. Since then, as previously stated, hate crime rates against Muslims are five times as high as they were pre-9/11. In a similarly frightening pattern, studies have found that hate crime rates go up after other radical Muslim attacks, like those seen in Paris or the San Bernardino (NBCNews.com). Using these attacks to justify islamophobia is unfortunately similar to the Germans using propaganda to spread the hate of Jewish people by playing off stereotypes. Every attack is another drop in the bucket of â€Å"Muslims are violent† while innocent people suffer for it. To people against Islam, every hijab is a cage, every mosque a tomb, and every attack a point proven. It’s easy to say that while the attacks and anti-Muslim mindset are awful, they will eventually blow over. People will stop thinking about it so much without a proper catalyst. For a good catalyst, we would need both an enemy, in this case the Islamic State, and a figurehead for the â€Å"good guys†.

The Adventures of Tom Sawyer by Mark Twain Essay - 659 Words

The Adventures of Tom Sawyer By Mark Twain Mark Twains, The Adventures Of Tom Sawyer, is a story told from the eyes of the young Tom Sawyer. The story takes place in the small rustic town of St. Petersburg Missouri. Tom Sawyer is the main character of the book. Tom is an imaginative young man who always seems to be getting into trouble. Tom is very adventurous, he never passes up a chance to play pirates, robbers, or soldiers. This book has multiple themes but the most important is knowing when its right to talk and tell the truth and when its better to be quiet or lie. At the beginning of the story Tom is introduced by climbing in his window after a long night of cavorting with his friends. Soon after the start of the†¦show more content†¦Becky and Tom soon become friends again after Tom takes Beckys punishment at school for being careless with the teachers things. Becky finds Tom to be very noble. Summer is coming near. Injun Joe is still at large and Tom and Huck are searching for treasure. While searching near an old ghost house one night the two boys over hear Injun Joe talking about some loot that he hid. The boys are determined to find it . As an end of the year celebration, Toms whole class goes on a picnic and on a cave exploration near the wood outside of town. While in the caves Tom and Becky get lost. The whole town searches for them but they are not found. also in the caves Tom sees Injun Joe snooping around. This inspires him to find a way out, which he does. After Tom and Becky are home the caves are sealed, leaving Injun Joe and his treasure locked inside. Injun Joe dies of starvation at the gated entrance of the cave and his treasure is discovered buy Tom and Huck who had found a secret way into the cave. The boys become the richest men in town. Huck decides to break away from the outcast life and moves in with a respectable widow in town. Tom and Huck are happy and rich and they promise to always stay together. The main character of the book is Tom Sawyer. Tom is an imaginative young man. Whenever Tom plays he pretends to be a pirate or Robin Hood and his friends would be his merry men. JustShow MoreRelatedThe Adventures Of Tom Sawyer By Mark Twain1558 Words   |  7 PagesThe Adventures of Tom Sawyer In 1876, a novel about a young boy growing up along the Mississippi River was written. Set in the fictional town of St. Petersburg, Mark Twain, the author of this fictional piece, based ‘The Adventures of Tom Sawyer’, largely on his personal memories of growing up in Hannibal, Missouri in the 1840s. Through ‘The Adventures of Tom Sawyer’, by Mark Twain we are able to not just appreciate an amazing piece of literature, but also be able to explore through the fiveRead MoreThe Adventures of Tom Sawyer by Mark Twain734 Words   |  3 PagesThe Adventures of Tom Sawyer â€Å"Then he (Injun Joe) put the fatal knife in Potters open right hand, and sat down on the dismantled coffin. Three -- four -- five minutes passed, and then Potter began to stir and moan. His hand closed upon the knife; he raised it, glanced at it, and let it fall, with a shudder. Then he sat up, pushing the body from him, and gazed at it, and then around him, confusedly. His eyes met Joes.† (9.53). In this Quotation from the novel– The Adventure of Tom Sawyer, MarkRead MoreThe Adventures Of Tom Sawyer By Mark Twain1258 Words   |  6 Pages In the novel The Adventures of Tom Sawyer by Mark Twain, the society in which the main character (Tom) lives in revolves around the culture of the community. There are morals for correct behavior, which distinguish insiders and outsiders of the community. Tom has behaviors for both sides and is regarded as an in between. There are additional characters such as Huck and Injun Joe that are specifically outsiders. Correct behavior is prevalent in the community. Throughout the story, the reader canRead MoreMark Twain s Adventures Of Tom Sawyer1586 Words   |  7 Pagesof The Adventures of Tom Sawyer are closely related to Mark Twain’s own life experiences. The fictional town of St. Petersburg very closely resembles Twain’s childhood home in a small town in Missouri, because of the Mississippi River (Stanley 1). He remembers both the ups and downs of his childhood and conveys these in the novel (Higgins). Many of his memories of living by the Mississippi river are displayed in this novel as Tom has several encounters with rivers (â€Å"Mark Twain†). Twain also interpretsRead MoreThe End Of The Adventures Of Tom Sawyer, By Mark Twain1409 Words   |  6 Pagesto their situations. ByAt the end of The Adventures of Tom Sawyer, by Mark Twain, the main character, Tom, has had several dangerous and amusing experiences that show that although he is not completely mature, Tom Sawyer is more emotionally, mentally, and morally mature than when the story began; therefore proving that Tom Sawyer has come-of-age in the novel. Tom’s emotional maturity definitely grows throughout the story. At the beginning of the story, Tom acts selfishly when he thinks that he isRead MoreEssay on Tom and Huck in The Adventures of Tom Sawyer by Mark Twain1752 Words   |  8 PagesThe Adventures Of Tom Sawyer In the Adventures of Tom Sawyer by Mark Twain, the friendship between the two friends Huck Finn and Tom Sawyer is strong enough to get them through some life changing adventures. The story takes place in the mid 1800s, in a Missouri town called St. Petersburg. Tom Sawyer is a very mischievous, adventurous kid, living with his Aunt Polly and her daughter, Mary, and his brother Sid. In the very beginning of the book Tom shows how mischievous he is when he tricks a coupleRead MoreThe American Life in The Adventures of Tom Sawyer by Mark Twain539 Words   |  3 Pages In the â€Å"The adventures of Tom Sawyer† a novel by Mark Twain, portrays a small-town American life. The town is pictured as idyllic due to its overall simplicity with the life of the inhabitants of the town St. Petersburg. The town also depicts what on average is life in the area and brings senses of distinct nostalgia to the reader of their childhood or of their parents. Some might view this story and not agr ee with the subject due to not finding it idyllic or just plain out thinking it’s a grossRead MoreAnalysis Of Mark Twain s Adventures Of Tom Sawyer1273 Words   |  6 PagesMark Twain’s Adventures of Tom Sawyer addresses the fear of the citizens of the newly reborn nation after the war between the states and what changes await for them, in correlation to the children as the fearful citizens and their exposure to society or the adult world as the reborn nation. Children fear of what lies ahead in the adult world as the citizens of the reborn nation fear what exists in a united nation. Twain’s sepulchral imagery conjures up the spine-chilling mood of a child when facedRead MoreMark Twain s The Adventures Of Huckleberry Finn And The Adventures Of Tom Sawyer1654 Words   |  7 Pagesliterature, Mark Twain claims the title. He is a paragon of the ideals that are ascribed to what a(n) (American) writer should be; his humor, his fluid and flexible writing, his abilit y to portray emotion and passion via ink on dead slices of trees is a mirror image of the- alleged- freedom that America purports. Even in death, his penname is renown- his autobiography a jumbled, yet appealing mess that was released 100 years after his expiration. Out of the numerous writers in America, Mark Twain is theRead MoreAnalysis Of Mark Twain s The Adventures Of Tom Sawyer As Well1350 Words   |  6 Pages Mark Twain is one of the foremost satire writers, and he is well-known for uses his sense of humor to criticize the 19th society in America’s and propagate his ideal world through The Adventures of Tom Sawyer. People commented Twain as â€Å"Twain does not confine himself to telling a simple children s story. He is, as always, the satirist and commentator on the foibles of human nature†(Roberts), Twain does use his sense of satire in the classical America book: The Adventures of Tom Sawyer as well.

The Benefits of Government-Supported Embryonic Stem Cell...

Millions of people die every year from diseases, accidents, and defects, one only needs to turn on the nightly news to hear of the devastating effects of cancer or of horrific accidents that have left people disfigured or paralyzed. Stem cell research is a part of biomedical science that has the potential to cure diseases and defects, create organs for patients needing transplants, regenerate axons in spinal cord injuries, and create new treatments, drugs, and immunizations. However, federal funding is limited and does not cover embryonic stem cell research to an extent that would make a difference in medicine. The United States should support embryonic stem cell research by increasing federal funding, opening new stem cell lines for†¦show more content†¦1-2). Embryonic stem cells (hESC) are pluripotent. They are obtained from the inner mass of a 5-6 day old human blastocyst that consists of approximately 100 cells (Bongso Lee, 2005, p. 3). The way that hESCs are obtained has given rise to political and religious controversy, which has hindered the progression of all stem cell research and has left potential social benefits for our society undiscovered. Federal funding of hESC research might allow for more stem cell lines to be allocated and could provide enough money to fill the gap of state and private funding. Social benefits, such as easing the suffering of those afflicted with defects, organ failures, and accident victims, combined with a reduction of hospital costs associated with these afflictions, would increase the standard of living and place more money back into the pockets of Americans. However, until compromises can be made between supporters and opponents of this research, no headway will be made. Many opponents argue that life begins at the moment of fertilization. They believe that embryos have the potential to become humans, and to use them in research is killing an unborn child. On the other hand, there are numerous people who are unsure as to what state of development constitutes life. They believe that since these embryos would be destroyed eventually and because they have the potential to save millions of lives, embryonicShow MoreRelatedEssay Government Funding of Stem Cell Research775 Words   |  4 Pagesfacing voters was the battle over embryonic stem cell research. In the weeks leading up to the election, polls were indicating that 47 percent of Bush supporters agreed that the destruction of embryo cells is unethical; however, 53 percent of Bush voters supported stem cell research. The overwhelming majority of Kerry backers also supported stem cell research, indicating that the majority of American voters support stem cell research. Embryonic stem cell resear ch, while still in its infancy, hasRead MoreEssay about Pros and Cons of Embryonic Stem Cell Research1261 Words   |  6 Pagesagainst Embryonic Stem Cell research mainly because they consider it unethical to use aborted fetuses for research. The two main issues concerning the research are the ethics (Cons) and the benefits (Pros). In any scientific case, ethics must always be considered. But the use of fetuses is something that is of the utmost importance. The costs are generally measured based off of people’s feelings, morals, and knowledge about the subject up for debate. The use of aborted fetuses for stem cell researchRead MoreShould Cloning Be Researched?1135 Words   |  5 Pagesfew decades, the main topic debated by scientists was whether or not cloning should be researched. When anyone even mentions the word â€Å"cloning†, they think of all the benefits and cures that the media has portrayed the research for cloning will bring. Although, this belief is nowh ere near the reality of the situation. The research for cloning not only pushes the ethical boundaries, but they also threaten the circle of life by trying to be god. Before even considering whether or not cloning shouldRead MoreStem Cell Research: The Political Front Essay1814 Words   |  8 PagesStem cells have the capability of forming any body tissue or even an entire organism, they are â€Å"master cells that can grow into virtually any sort of cell in the human body† (Edwards, Wattenberg Lineberry, 2009, p. 605). Stem cells are also repair cells, they work to maintain and regenerate cells in organs and tissues that are lost through damage, disease or normal wear and tear. Stem cell research began in the 1950s when researchers â€Å"discovered that the bone marrow contains at least two kindsRead MoreThe Heated Debate Concerning Stem Cell Research Essay2353 Words   |  10 PagesThe Moral Debate over Stem Cell Research President George W. Bush looked stern and confident as he addressed the American people on August 9th, 2001. It was an historic day for the 43rd president, as he explained the debate surrounding embryonic stem cell research, including its possible benefits for science but also its problems surrounding morals and ethics. â€Å"The issue is debated within the church, with people of different faiths, even many of the same faith coming to different conclusionsRead MoreResearch On Stem Cell Research Essay2087 Words   |  9 Pagespluripotent embryonic stem cell research funds in the United States and ways to regulate the research process. Kirk examines the use of pluripotent stem cells for research to be coordinated correctly by the National Institute of Health Guidelines. Kirk explains how the proposed guidelines affect the way embryonic stem cell research is done in the United States. â€Å"Finally, researchers must follow standard NIH research procedures as well as undergo review by an NIH working committee on stem cell research† (412)Read MoreEssay on Stem Cell Research: An Ethical Interpretation1946 Words   |  8 Pagessolution to these sicknesses was inside the very people they torment. Stem cell research is undeniably a heated topic in today’s world. Supporters claim it is savi ng lives, however, from the opposition, it is viewed as murderous. Both sides present a strong argument and have respectable pros and cons. Despite the opposing side’s argument, it is in the United States’ best interest to invest tax money into stem cell research because it has already proved successful in advancing out nation scientificallyRead MoreThe Government Should Fund Embryonic Stem Cell Research Essay2396 Words   |  10 Pagesdisfigured or paralyzed. Embryonic stem cell research is a part of biomedical science and has the potential to ease the suffering of sick people by curing diseases and defects, creating organs and tissue for patients needing transplants or skin grafts, regenerating axons in spinal cord injuries, and creating new treatments, drugs, and immunizations. However, America’s government does not support this research to an extent that would make a difference in medicine; only a few stem cell lines are authorizedRead MoreStem Cell Rese arch, Ethics And Policy Essay2393 Words   |  10 PagesIntroduction Stem cell research and engineering is a widely disputed topic that often divides people in science, ethics, and religion. In order to fully understand the controversy surrounding this area of scientific research and discovery, one must be informed as to what stem cells are. In the article, â€Å"Human Embryonic Stem Cells: Research, Ethics and Policy†, stem cells are described as â€Å"primitive cells with the capacity to divide and give rise to more identical stem cells or to specialize andRead MoreEssay on Benefits of Stem Cell Research2506 Words   |  11 Pagesbiomedical research wasn’t getting done, instead it’s being deliberated, tarnished and thrown to the way side by American politics and scorned in the court of public opinion due to a misinterpretation. This very research is the something we hear all over the news and in politics; considered by some politicians to be one of the key pieces in their journey to political stardom and their election, the research of stem cells, especially now that techniques are being developed to create stem cells from an

A Study On Lyme Disease - 1118 Words

Lyme disease is most commonly transmitted to humans by black legged deer ticks that carry a spirochete called Borrelia burgdorferi (Kruger, p. 23, 2010). Spirochete are a type of bacteria which have surrounding filaments attached to their cell walls that help propel it through aqueous environments (Porth, p.302, 2015). Deer ticks can only pass it on if they have fed from an infected host such as small mammals, like mice and squirrels, however, when the tick matures into adult, it prefers the white tailed deer as a host (Kruger, p.23, 2010). The deer themselves do not carry the disease, however they play an important role in the spread of this spirochete. The deer tick only infects it’s host with the Borrelia burgdorferi at the end of a†¦show more content†¦(Moore, p.65, 2015). There is variability in the course of the disease in this stage. Approximately 50% of infected patients will also develop flu-like symptoms (Nichols Windermuth, 2013). Twenty percent of infecte d patients will present with repeated erythema migrans, forty percent will present with multiple rashes and in one-third of fortunate patients, the disease will not continue to progress (Kruger, p.24, 2010). The early disseminated stage marks when Lyme disease becomes systemic and effects the musculoskeletal, cardiac and neurological systems. It can occur weeks to months after the bite when the spirochete travels to organs via hematologic or lymphatic channels (Nichols Windermuth p.363, 2013). Infected patients may present with a long list of secondary diagnoses such as lymphadenopathy, meningtitis, Bell’s palsy, cranial neuritis, radiculoneuritis, arterioventricular block as well as joint and muscle pain. (Nichols Windemuth, p363, 2013). The late disseminated stage occurs with patients who did not receive adequate treatment during earlier stages and occurs months to years following the initial infection (Moore, p66, 2015). These individuals often present with rheumatoid ar thritis and neuropathies. Approximately 60% will have arthritis in their knees, and 5% will develop paresthesia, and cognitive issues such as short term memory loss (Moore, p66, 2015). The literature is controversial

European Colonialism And The Middle East - 846 Words

Europe is a sick civilization! According to Aimà © Cesaire that is, but what are the characteristics of a â€Å"sick civilization† ? European colonialism is the main culprit when looking at the heinous crimes committed by the colonizer against the colonized in places Congo, America and the Middle East. The refugee crisis in Europe is a direct effect of colonialism on countries such as Sudan, Libya, Afghanistan, Iraq and Syria. Following the migration of thousands of middle eastern natives to Europe, we start to see many policies implemented to stop refuges from entering European countries. Although some European countries has begun to take measures to help refugees, not nearly enough countries have the same view. The natives of Congo, America, and the Middle East are just who had and still have to endure the atrocities of European colonialism. Colonialism, by definition is â€Å"the control or governing influence of a nation over a dependent country, territory, or people, but colonialism is much more sinister than simply influencing a â€Å"dependent country, territory, or people† as the above definition would have us believe. If we were to form our own definition of colonialism based on the current refugee crisis in Europe or the horrors that took place in Africa and America in the past, we can say that colonialism is the exploitation of a territory’s natural resources, taking full political control by force over a territory, and the forcing of these people to assimilate to their beliefsShow MoreRelatedThe Middle East And European Colonialism1700 Words   |  7 PagesIn the Middle East, European colonialism obliterated Arab sovereignty through its political and economic takeover. After gaining independence, the epicenter of perceived encroachment of Arab autonomy by the West was found in the Jewish state of Israel. Furthermore, the United States’ military support of Israel was also seen as an extension of colonialism. The colonial legacy of the British and the French occupations in the Middle East led to the belief that Israel was another imperial force thatRead MoreThe Colonization Of The Middle East1642 Words   |  7 PagesMany of the problems in the Middle East today are a direct result of actions undertaken in the region s colonial past. I will argue that both imperialist ineptitude, deliberate meddling and outright deceit by colonial powers have sown seeds of distrust that linger in the Middle East today towards the West. I will claim that artificial boundaries, government structures and societal schisms created in colonial times have entrenched animosities and created internal structural instabilities in the areaRead MoreThe Literary Theory Known as Post-Colonialism1061 Words   |  4 PagesThe literary theory known as Post-Colonialism is easily defined in content bu t not in its beginning or end. Ashcroft, Griffins, and Tiffin state that the term â€Å"covers all the culture affected by the imperial process from the moment of colonization to the present day† (2). They focus on the territories colonized by Britain in Empire Writes Back but state that the analysis can apply to the former empires of France, Spain, and Portugal. This view falls in line with the issue brought up by Childs andRead MoreEssay about European Colonialism and Imperialism992 Words   |  4 PagesHow were the Europeans able to conquer and control large areas of the globe? What gave them a great advantage over other groups? The proximate cause of this advantage was their possession of guns, germs, and steel. But how is it that they possessed these things and others did not? Ultimate causes of the Europeans possession of these guns, germs, and steel could be â€Å"Divine Providence.† People at the time thought that God favored the Europeans over other groups. Another ultimate cause could have beenRead MoreRise Of Islam Essay519 Words   |  3 PagesIslamic rule spread over major areas of Africa, the Middle East, South, Southeast and Central Asia, Spain, and Southern Italy. Many Christians saw Islam as a religion of the sword. They have been very violent throughout their history. Arabian armies engaged in attacking the remnants of the Byzantine Empire. The First Crusade was launched in order to stop the Arabian invaders. The Islamic worldview was greatly influenced by the Christian and Jewish worldviews. In the Qur’an it states that thereRead MoreThe Scramble for Africa Essay1032 Words   |  5 Pagesprocess of colonialism in world history. The European colonial powers managed to conquer and control almost the entire continent of Africa in a short, twenty-five year period from about 1875 to 1900. Some of the European states involved were already well-established global powers; the others were up and coming nations that desired to emulate and compete with the dominant imperial states. Various factors allowed for and contributed to the conquering of the whole of Africa by European states. TheRead MoreThe Decline Of The Ottoman Empire1240 Words   |  5 PagesThe Ottoman empire was competed over by the Europeans and wanted to gain more control. They had sign treaties and wage wars with the Ottoman which were slowly losing land to the Europeans. Unlike in India and Africa, the Europeans jus t forcefully colonized with their tents not realizing whose land they are in and just cared for their benefits and profits from land enriched resources. 2. Using the perspective of a British officer in the British East India Company, explain the rebellion in theirRead MoreNegative Effects Of Colonialism1253 Words   |  6 PagesThe Effects of Colonialism â€Å"During the phase of colonial settlement, European countries sent settlers to inhabit and control large areas of land. They took complete control of new areas by force and imposed European laws. These settlers often excluded indigenous inhabitants from their society or killed many of them in violent wars or through disease† (Stewart 1). Colonialism is a conceptual idea that has forever damaged our first-world society. Tribes and nations from every crevice of the earth haveRead MoreCulture, Education, And Power Of South East Asia1594 Words   |  7 Pagesthe 1800’s there came a rise in colonialism, which led to an increase in global mobility and the introduction of western dominance in all parts of the world. This issue as shown in Pramoedya Ananta Toer’s This Earth of Mankind eventually led to a social structure and class which claimed precedence over knowledge, talent, and experience. This novel depicts the Dutch and other colonists of European descent to be dominant in the culture, education, and power of South East Asia. Colonial control was feltRead MoreThe Aftermath Of World War II1562 Words   |  7 Pagesprimary creators of deep rooted turmoil in the Middle East region, the effects of the Cold War and the United States often over-zealous battle against communism is just as much a contributor if not more. The Arab world and the Middle East region were clearly going through quite an extraordinary period throughout World War II and its conclusion, primarily with the creation of most of the states we recognize today and struggling with the continuation of colonialism. These factors set the stage for the emergence

Principals of Financial Markets Group

Question: Discuss about the Principals of Financial Markets Group. Answer: Introduction Businesses have to check their financial standing regularly in order to ensure they are aware of challenges to their financial positions or to track losses in productivity and efficiency etc. The purpose of financial analysis hence is to examine a business from multiple viewpoints which would enable the business proprietor and related stakeholders to understand its financial situation. Multiple viewpoints are necessary, as the business will not just suffer from impact of its internal situations, but also from macro-environmental external situations as well. So a financial analysis will have to be done across both perspectives. Given this background context, the purpose of this research is to choose the food manufacturing industry for analysis. Tow companies chosen in research here are Bega Cheese and Warrnambool Cheese and Butter Factory. The analysis proceeds in two steps. Primarily, the external economic environmental analysis is done and secondly, a fundamental bottom up analysis of the company, its financial growth, its history and more is analyzed. Bega Cheese: Bega Cheese manufacturing company (ASX Code: BGA) situated in New South Wales and Victoria deals with the manufacturing of different varieties of cheese and has been in production for the past 100 years. While cheese is the main product sold, whey powder manufactory is also done here. Typically, one of its production units manufactures around 14,000 mt of cheddar and 7,000 mt of demineralised whey powder in a financial year. In addition to the production of wholesale selling products such as Tatura Milk, Bega cheese also attempts to educate the society with respect to chees and its heritage or cultural associations with the place (Bega, 2016). The mission of the company as observed from its site to be a strong part of the heritage connections with food products and the company aims to provide high quality products to its consumers. Warrnambool Cheese and Butter Factory: The Warrnambool Cheese and Butter (ASX Code: WCB) is a butter and cheese factory. It is an Australian based enterprise but with majority shareholdings by Saputo Inc which is a Canadian company and holds around 87.92 per cent of the WCB shares (Smith, 2015). Warrnambool works with the mission to provide everyday ranges of cheese and butter at really low prices. It manufactures and sells different varieties of dairy products such as cheese, butter, cream and more. The company sells nearly a half of its products to foreign nations. Some of its more local brands are that of Coon cheese, the Cracker Barrel, Warrnambool cheddar cheese and more. The company is older than Bega Cheese and was established as a business in Allansford, Victoria, in 1888. Top-down Analysis The purpose of the top down analysis is to understand the economic environment in which the company operations and also how it finances and sales could be affected by it. Now the macro economic environment can be considered from two ends, the countrys economic environment and the global economy and impact. The Global economic growth has picked up in the last few years following the economic recessions of the decade. This is a positive point for all industries globally speaking. The economic growth was 3.4 percent in 2014 and this was an improvement compared to the 2013 growth which was recorded at 3.3 percent only. While GDP growth rates are diversified, such as China having faster GDP growth, and other nations such as India, Japan and the United States following second, an overall GDP increase has been observed and this is a good trend for industrial growth in general and companies in specific. The Gross domestic product (GDP) of the country is calculated on annual basis or quarterly basis and is considered as the monetary value of all the finished goods and services produced in a country per annum or quarter. The GDP is used to calculate the countrys economic health and as such is usually even considered as the size of the economy. In understanding the countrys economic growth, a comparison with the previous years GDP is usually drawn. GDP is usually calculated by measurement of adding up every employed persons earning in a year within the country or could also be calculated by adding what everybody spent in a year. In a logical sense, both income approach and the expenditure approach must tally at the same amount. In Australia, the Gross domestic product calculated for 2015 was 1339.54 billion US dollars. Now this value is almost 2.16 percent of the entire world economy. An all-time high in GDP was reached in 2015. The GDP value of Australia represents 2.16 percent of the world economy. GDP in Australia averaged 386.58 USD Billion from 1960 until 2015 and the all-time high in GDP was represented in the year 2013. Now although 2015 records as a growth area, the rate of growth has declined leading to a new normal growth rate. The growth with respect to income per capita has decreased as well. It can hence be said Australia has moved aware from its high investment resources phase. Now if that is the context of the economic environment within the country as understood based on GDP, then the businesses also have to be careful in investments as such. Source: Australian Government, 2015 Companies which involve in a high amount of trading with outside nations suffered from the issues of economic recessions. There are flux domestic conditions seen in countries such as China even as of 2016 and China is one of the major trading partner of Australia. China had a high value of economic growth in the past, but in current times as of 2015 Chinas economic growth is slowing down. It is moderating down and eased down to below 7 percent in annual growth, and in more current times could slow down more as total debt to savings in terms of GDP has increased two fold as of 2014 (Australian Government, 2015). It was 100 percent of GDP in 200 and not it around 200 percent of GDP. High debt hence challenges the economic growth of the country to a certain extent leading to market volatility. This would have an impact on its export and import trades. Now since companies such as Warrnambool Cheese is seen to be selling more than 50 percent of its products in such flux conditions, the co mpany has to be careful in its foreign dealings. Australias real and nominal, trade weighted exchange rate is on the decline. Exchange rate or the foreign exchange rate as defined in finance and transactions between two countries. It is the rate at which one countrys currency can be exchanged for another. Yet another way to consider it is to regard it as one countrys currency value defined in relation to another. The nominal trade weighted exchange rate is defined as a weighted geometric average. It is calculated as the average value of Australian currency in relations to the currencies of the trading partners of the country. On the other hand, the real trade-weighted exchange rate is defined as the same average value that has been adjusted for the relative price levels. From 2014-2015 it has been observed that there is a decline in both these values (Australian Government, 2015). What this decline means is that most of the exporting industries would now be able to consider new export sources given that the pressure is off them now . Since the Australian dollar is low, export competitiveness can be increased as exports could be sold for adjusted prices in foreign nations or companies can find newer export partners. A lower Australian dollar improves export competitiveness by allowing exports to be sold for less in foreign currencies. Companies such as Warrnambool Cheese which is heavily invested in exporting (exporting to around 50 percent of its goods) will benefit from this low Australian dollar environment. The Food, beverage and tobacco industry of which, the companies Bega Cheese and Warrnambool Cheese and Butter Factory are part of, is considered as a strong sector within Australia. It accounts for around 25.5 percent share of the entire GDP of the country and has a value of around $25.4 billion. It plays a major role in the Australian economy as it supports around 22.9 percent of the manufacturing labor force in the country and to this extent it also has much political and policy based support (Australian Government, 2015). There are Government backed up support for this industry as a result of this. Government backed institutions and production process facilitations are present for the industry. The Government support has led to an increase in productivity gain of around two percent. In addition to the direct support, the food and beverage industry is also provided support in the form of research. Australias food and beverage industry has a number of education and training faciliti es in its midst. Cutting edge research on food manufacturing is done here and most of the people working in the sector are highly trained or have some amount of exposure. International food companies hence draw on these strengths. Some of the institutions that are hence helpful for improving economic productivity of Bega Cheese and Warrnambool Cheese and Butter Factory are that of the Food Science Australia Research and Development Institution and the Dairy Cooperative Research Centre. Bottom-up Analysis Some of the key internal elements that can be used in the bottom up analysis are that of accounting rations and profitability rations. Accounting Ratios The accounting ratio can be calculated for the companies, it is also called as the financial ratio and plays a proper role in financial analysis of a company. Usually accounting ratio works by relating a financial statement to another. Bega Cheese Accounting ratios Financials 2012-06 2013-06 2014-06 2015-06 2016-06 RevenueAUD Mil 927 1,010 1,069 1,113 1,196 Gross Margin % 12.4 13.4 11.1 10.9 12.8 Operating IncomeAUD Mil 27 35 24 12 36 Operating Margin % 2.9 3.5 2.2 1.1 3 Net IncomeAUD Mil 18 25 66 12 29 Earnings Per ShareAUD 0.13 0.17 0.43 0.08 0.19 DividendsAUD 0.04 0.1 0.11 0.12 0.13 Payout Ratio % 65.6 58 34.7 89.3 SharesMil 137 153 153 153 153 Book Value Per ShareAUD 1.62 1.7 2.09 2.04 2.1 Operating Cash FlowAUD Mil -11 62 40 -17 59 Cap SpendingAUD Mil -28 -28 -28 -19 -40 Free Cash FlowAUD Mil -38 34 13 -36 19 Free Cash Flow Per ShareAUD 0.03 0.2 -0.22 0.08 Working CapitalAUD Mil 99 115 109 149 137 Table: 1 Financial Ratios for Bega Cheese for last 5 years (Source: finance.yahoo.co.au) Warrnambool Cheese and Butter Factory Co Holdings Ltd Accounting Ratios Financials 2006 2007 2008 2009 2010 2011 2012 2013 2014 2016 Revenue AUD Mil 349 365 510 461 417 499 493 497 610 642 Gross Margin % 17.9 19.9 14.7 14.2 23.4 21 18.3 24 23.7 22.5 Operating Income AUD Mil 6 10 8 -13 16 15 -2 14 28 -2 Operating Margin % 1.7 2.8 1.5 -2.9 3.9 3 -0.5 2.8 4.6 -0.4 Net Income AUD Mil 8 10 25 -20 9 18 15 7 21 4 Earnings Per Share AUD 0.14 0.17 0.44 -0.45 0.2 0.36 0.26 0.13 0.36 0.07 Dividends AUD 0.1 0.08 0.13 0.29 0.03 0.16 0.2 0.15 0.15 Payout Ratio % * 142.6 28.8 13 43.3 231.6 37.5 Shares Mil 55 56 56 44 44 51 58 59 59 60 Book Value Per Share * AUD 1.87 2.21 2.18 2.3 2.65 3.09 2.92 3.17 Operating Cash Flow AUD Mil 19 18 6 -22 8 47 -7 1 46 -12 Cap Spending AUD Mil -14 -9 -10 -19 -6 -8 -15 -23 -23 -19 Free Cash Flow AUD Mil 4 9 -4 -41 2 39 -22 -22 23 -31 Free Cash Flow Per Share * AUD 0.14 -0.07 -0.93 0.05 0.76 0.18 -0.8 0.15 Working Capital AUD Mil 28 31 47 2 11 57 61 50 52 147 Table: 2 Financial Ratios for Warrnambool Cheese and Butter Factory Co Holdings Ltd (Source: finance.yahoo.co.au) Profitability Ratios The companys return on investment is given by its profitability rations. The profitability ratios are used to understand the capability of the company to generate profits from its operations and hence a more futuristic planning is possible from the financial analysis. ROI in inventory and other assets can also be understood for the company. Bega Cheese profitability ratios Margins % of Sales 2012-06 2013-06 2014-06 2015-06 2016-06 Revenue 100 100 100 100 100 COGS 87.55 86.62 88.94 89.12 87.18 Gross Margin 12.45 13.38 11.06 10.88 12.82 SGA 19.58 19.03 18.07 19.14 6.26 RD Other -10.06 -9.13 -9.23 -9.36 3.53 Operating Margin 2.93 3.48 2.21 1.1 3.03 Net Int Inc Other -0.01 0.02 6.54 0.38 0.3 EBT Margin 2.92 3.5 8.75 1.48 3.34 Profitability 2012-06 2013-06 2014-06 2015-06 2016-06 Tax Rate % 24.56 28.02 29.41 24.5 27.87 Net Margin % 1.89 2.52 6.18 1.12 2.41 Asset Turnover (Average) 1.8 1.89 1.94 2.02 2.1 Return on Assets % 3.4 4.77 12.01 2.25 5.05 Financial Leverage (Average) 2.09 2.11 1.75 1.77 1.79 Return on Equity % 7.11 10.01 22.92 3.96 8.99 Return on Invested Capital % 6.69 8.53 19.87 4.16 8.13 Interest Coverage 3.94 5.18 15.64 5.51 11.4 Table: 3 Bega Cheese profitability ratio (Source: finance.yahoo.co.au) Warrnambool Cheese and Butter Factory profitability ratio Key Ratios - Profitability Margins % of Sales 2006 2007 2008 2009 2010 2011 2012 2013 2014 2016 Revenue 100 100 100 100 100 100 100 100 100 100 COGS 82.07 80.09 85.28 85.79 76.63 78.96 81.72 76.04 76.31 77.47 Gross Margin 17.93 19.91 14.72 14.21 23.37 21.04 18.28 23.96 23.69 22.53 SGA 8.31 8.12 6.49 8.36 9.69 8.6 9.25 10.11 10.58 12.41 RD 0.7 0.49 0.18 Other 7.92 8.96 6.76 8.74 9.79 9.44 9.52 10.31 7.98 10.29 Operating Margin 1.7 2.83 1.47 -2.89 3.89 3 -0.49 2.83 4.63 -0.35 Net Int Inc Other 1.47 0.97 5.01 -3.63 -1.56 1.96 4.49 -0.9 0.1 0.8 EBT Margin 3.17 3.8 6.48 -6.52 2.33 4.97 3.99 1.93 4.73 0.45 Profitability Tax Rate % 31.49 30.69 25.95 9.13 25.43 22.86 21.91 26.29 Net Margin % 2.17 2.64 4.8 -4.33 2.11 3.7 3.08 1.51 3.49 0.66 Asset Turnover (Average) 1.99 2.01 2.39 1.94 1.74 2.01 1.88 1.71 1.97 1.16 Return on Assets % 4.33 5.3 11.48 -8.39 3.67 7.44 5.78 2.58 6.89 0.76 Financial Leverage (Average) 1.87 1.81 1.94 2.42 2.41 1.66 1.71 1.89 1.69 2.39 Return on Equity % 8.07 9.74 21.62 -18.05 8.86 14.59 9.72 4.64 12.31 1.82 Return on Invested Capital % 7.15 8.7 17.39 -8.72 7.58 11.71 8.84 4.69 9.92 2.15 Interest Coverage 4.58 5.55 9.92 -4.47 2.35 5.29 7.31 3.32 8.89 1.49 Table: 4 profitability Ratios for Warrnambool Cheese and Butter Factory Co Holdings Ltd (Source: finance.yahoo.co.au) Bega Cheese Bottom Level Analysis Based on the companys financials and profitability ratios, it can be understood that the companys revenue increased by 8% in comparison to last year and gross margin increase by 19%, operating income increased by 3X, earning per share increased by 2X, working capital reduced by 10%, operating margin increased by 3X as compared to last year. This indicate that the companys financial performance has increased historically. On other side, turnover ratio increased but the return over asset decreased a lot. The financial leverage ratio increased means the company has gone for more debt in recent years. The overall financial strength of the company is growing and is expected to sustainable in coming years. Warrnambool Cheese and Butter Factory Bottom Level Analysis Warrnambool Cheese and Butter factory has demonstrated high growth from the beginning of the establishment. The revenue of the company increased by 5% with gross margin of 22.25% and increase in operative income by 2X. The companys turnover ratio and return on asset increased but financial leverage ratio decreased that indicates the company is doing pretty well and leading toward self-sustainability. Overall, the company is growing with 2X on an average. Recommendations Based on a top level and bottom level financial analysis it is possible to make recommendations for Bega Cheese and Warrnambool Cheese and Butter Factory. Now in terms of the top level analysis, the overall negative impact of the economic recessions is over for the food, beverage and tobacco industry. There are good opportunities for export, although a certain amount of flux in economic is seen in countries such as China, so Warrnambool Cheese and Butter Factory which sells more than 50 percent of its product to foreign countries must strategize its export partners better. It should have more diversified markets. Bega Cheese and Warrnambool Cheese and Butter Factory are both in an industry that is well supported by the Government and also educational research facilities. Therefore, it has a very supportive macro-economic environment. References Australian Government. (2015). Australian Industry Report, Retrieved Sep 22, 2016 at: https://www.industry.gov.au/Office-of-the-Chief-Economist/Publications/Documents/AIR2015.pdf Smith, S. 2015. Warrnambool Cheese and Butter to buy Lions everyday cheese business, Retrieved Sep 22, 2016 at: https://www.weeklytimesnow.com.au/agribusiness/dairy/warrnambool-cheese-and-butter-to-buy-lions-everyday-cheese-business/news-story/8e947a0902dbe496d2faa455c3664f31 Bega Cheese, Retrieved Sep 22, 2016 at: https://www.begacheese.com.au/

Breakbeat Science Exercise Four free essay sample

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