Jesus of Montreal free essay sample

Arcand, director of the film stated â€Å"Consumerism may be the legacy of the eighties but there has got to be more to life than that. Jesus of Montreal is about a yearning for something else, a search for a sort of meaning. † The film shows the effects of Hollywood on Canadian culture. This can be seen in a scene when a lawyer/agent tempts Daniel to risk his artistic strength in order to â€Å"possess the city,† and uses Ronald Reagan, as an example of Daniel’s prospects. The commercialization of culture is something that is seen as overtaking the human spirit, something that will lead to the destruction of society. In one of the final scenes, after Daniel has been wounded in an accident on set, he stumbles out of the hospital and begins to speak of the destruction of the city of Montreal, quoting from the Olivet Discourse. I think what he meant was that society is destroyed by humanity itself, in its desire for instant gratification, consumerism. We will write a custom essay sample on Jesus of Montreal or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This search for truth, for something beyond what the commercial culture says is all that is left. The meaning of Daniel’s death confirms the truth Daniel had to resist; that we cant survive in a world dominated by institutions, media, and consumption. We learn who â€Å"Jesus really was† as Daniel really starts to overlap with the role he’s playing. While we are told about Jesus’ origins, Daniel’s background is a compete mystery. We know less about his background than most characters. 2 The film tracks the life of Christ in several ways. The actor at the eginning, praised for his performance, turns and says that Daniel is a much better actor. This is a reference to John the Baptist as the herald of Christ. A woman producer says she wants the same actors head for her magazine, a reference to Herodias wanting John the Baptist dead. His head then appears in a poster ad in a subway where Daniel dies. Daniel overturns the equipment at the commercial shoo t, a reference to Christs cleansing of the temple. He is arrested and the indecisive judge cannot find anything wrong with him, a reference to Pilates judgment. A lawyer plans great things for Daniel and shows him the world from a skyscraper, a reference to the temptation in the desert. Finally, Daniel gives life to at least three people after his death when his organs are transplanted into a heart and eye patient, a reference to Christ as the redeemer. However, I concluded that the movie made us think that Jesus was just a product of his times. And I thought the main just of the film mainly gave us commentary on contemporary society; that we are on a path of self-consumption, and that the world â€Å"began without man and will end the same way. †

Essay about Bosnia

Essay about Bosnia Essay about Bosnia Essay about Bosnia: Topic Ideas If you need essay about Bosnia, you will find this article useful. We are online 24/7 to help you with writing any essay on any topic and within any deadline. If you are looking for help with writing college essay online or need professional custom writing service, do not hesitate to place an order at our site and get your paper written by professional and experienced essay writers! Here are some tips you may find useful for writing your essay about Bosnia. Introduction is the place to present your topic, formulate the purpose of writing, and state the scope of research Discussion section of your essay about Bosnia may include the historical roots of enmity of the Bosnian people. Analyze origin of crisis in Bosnia and Herzegovina. You can describe disintegration of Socialist Federal Republic Yugoslavia. You may show in your essay about Bosnia the first stage of peacemaking (August, 1991 - 1993): Z. Kutilero's plan. S. Vznsa's plan, D. Ouena's plan, etc. Give the reasons of failure of the first stage of peace-making initiates. Consider the second stage of peace-making process - the so-called plan of Contact group. Take into account the Dayton peace agreement: substantive provisions, agreement estimation, etc. Writing essay about Bosnia, review a role of the USA and NATO in the course of conflict settlement. You may need a guide to essay writing:. Essay about Bosnia: Sources of Data The sources which can be used in your essay about Bosnia can be classified as follows: - Official documents of the international organizations, such as the United Nations Organization, the International Tribunal across the former Yugoslavia; - Diplomatic documents, the internal political certificates including the departmental documentation, parliamentary reports, correspondence of officials; - Materials of statistical and auxiliary character; Essay about Bosnia: Custom Writing If you have neither time nor desire to write essay about Bosnia, you have an opportunity to take advantage of our custom college essay help. Our essay writers are experienced; our prices are affordable; and our services are 100% legit. We pay peculiar attention to the smallest details of your instruction and double-check essay about Bosnia for plagiarism. When you buy essay about Bosnia writing service at our site, you can be sure to get a custom written essay which meets all instruction points, is originally and properly referenced! You may also read great article on how to write favorite season essays and review academic tips on persuasive essay writing. Interesting posts: Custom Beowulf Essay Composition Essay Autobiographical Essays Synthesis Writing Steps How to Write a Book Report

European Community Business Law Essay Example | Topics and Well Written Essays - 2750 words

European Community Business Law - Essay Example The characteristics are unique and as such, the European foods with specific characteristics are only approved for production by producers who adhere fully to the traditional methods of production within a given demographic area. Essentially, the notion of PDO delineates that certain food names are protected based on geographic origin or the recipe utilized. Inherent in this notion are clear guidelines for naming the food products.1 First and foremost, PDO was instituted in 1993 as a direct result of legislation of the European Union. Under this legislation, there were clear and concise guidelines for the systematic naming of foods based on a protocol as defined by the European Union. Utilizing this systematic naming protocol, EU certifies regional and traditional foods whereby these foods are guaranteed to be authentic and to have originated from the alleged region. Under this system, foods or beverages registered through the EU are given legal protection against imitation along with the right to litigate to protect those rights2 In order for a product to be registered and the producers offered the rights that accompany registration, there must be a formal application made to the Department of environment, food and rural affairs (Defra). The application must be accompanied by supporting documentation which indicates that the food product is produced, processed and prepared within a geographic area and by virtue of this, the product has inherent characteristics that derive from the geographic area. The application is then examined by the staff of Defra and any pertinent questions may be raised and correspondence incited between the applicant and the Defra officials. If the application proves to have some merit after the Defra investigation, it is then passed on to the European Commission for further investigation. When the application reaches the European Commission, the Commission is afforded up to six months to determine the validity of the claim. In so doing, the Commission is free to seek the assistance o f the Scientific Committee which is established solely for this purpose. In offering assistance, the Scientific Committee can conduct tests and offer expert opinion with regards to the geographic origin of the product. If after consulting with the Scientific Committee, the Commission is satisfied that the product warrants PDO registration, a summary sheet of the product is published in the Official Journal of the European Community. At this point, the registration is open for objections for the next six months. If no objections are made, then the product is officially registered with the European Union and offered the status of PDO.3 This status affords the producers the following benefits: Legal protection throughout the European Union. This protection prevents the imitation of a PDO product and in cases where there is imitation, it offers litigious assistance. Increased awareness of the existence of the product and the potential to promote it both locally and throughout the European Union. Increased funding potential through the lure of public funds. Strategic product positioning at the high-end of the market. A larger customer base.4 Currently, there are twelve products which have attained the PDO designation. These products are Buxton Blue cheese, White stilton cheese - Blue stilton cheese and Dovedale cheese all of which are associated with the

Disease or Diseases that affect the Rabbit Case Study

Disease or Diseases that affect the Rabbit - Case Study Example In addition, by the time rabbits show signs of illnesses, their condition begins to deteriorate rapidly making it difficult for any intervention method. Therefore, for the majority of illnesses, many vets have stated that vaccination is one of the most ideal approaches. One of the most common diseases affecting rabbits are bacterial infections which lead to the formation of an abscess. This is usually an accumulation of pus with in a cavity that is located in the jaw area. However, it is not limited to this location and can be found on many different parts of the body. This disease is easily avoidable by reducing the fighting between rabbits and ensuring that they are not exposed to injury from sharp septic objects. Since prevention is not always possible the treatment may be required and this disease is easier to detect as it is visible on the rabbit. The abscess is lacerated and the wound is disinfected with peroxide (Meridith, 2003). Rabbits At times also suffer from caked milk production, which occurs when a rabbit has too much milk for the number of kittens. Therefore, this milk is not utilized and leads to this pathology as the ratio of breastfeeds does not correlate with that of milk production. The disease is often mistaken for mastitis as it has a fairly similar presentation. The rabbit’s mamillary glands will become hard, swollen and extremely painful. The disease can be prevented by reducing the amount of food tat is rationed daily which in turn reduces the amount of milk that is produced. This process has shown to yield excellent results within 7 days. There are also some other methods which are used for treatment and these include relieving of congestion by partially milking the rabbit and also massaging anti-inflammatory ointment around the affected breast area. This in turn will reduce the pain that is felt

Child Labor is a form of abuse Essay Example | Topics and Well Written Essays - 500 words

Child Labor is a form of abuse - Essay Example o hazardous circumstances, prevents them from furthering their intellectual growth, and burdens them with responsibilities which are supposed to be undertaken by their parents. Child labor is a form of abuse as it exposes an individual into hazardous circumstances where his or her health and even entire life is at stake. Whenever we hear of child labor, what comes to mind is a picture is a thin and dirty child working long-hours in the factory. However, it has been found out that the agriculture sector employs the highest percentage of children who actively participates in activities like weeding, plowing, and taking care of farm animals. Both work places, whether in the manufacturing or agricultural industry, threaten the physical condition of the employed child. In a research conducted by Ashagrie in 1997, 9% of children in the manufacturing sector reports injury due to their lack of capacity in operating equipments. In the same study, the agricultural sector records a higher 12%. Edmonds and Pavcnik (2005: 208) identifies the hazards in agricultural work: â€Å"Agriculture can be hazardous to for children because of exposure to dangerous chemicals such as herbicides and insecticides, exposure to heat or weather, repetitive work injuries and threats posed by animals, reptiles, insects, parasites and some plants.† Child labor hampers children from furthering their intellectual growth by robbing them of time spend inside the classrooms to be educated. Childhood is a very significant period in the intellectual development in an individual. However, being tied in different chores hinders children from getting proper schooling. Even if it is argued that child labor equips children with some skills, empirical evidences emphasize that it significantly robs children the opportunity to be educated. Children who spend more time in work activities have less time to spare to attend their classes. Furthermore, â€Å"time spent working takes away from study, play, and sleep and

Stock Options With Fixed Exercise Prices

Stock Options With Fixed Exercise Prices Table of Contents (Jump to) 1 Introduction 2 Fixed Price Options versus Indexed Options 3 Case for Indexed Options 3.1 Compensation for Relative rather than Absolute Performance 3.2 Protection of Managers during Market Downswings 3.3 Reduced Expected Costs 4 Case against Indexed Options 4.1 Unpredictability 4.2 Difficulty in Controlling Compensations 4.3 Larger Deadweight Costs. 4.4 Tax Treatment 4.5 Reluctance of Managers 5 Reasons for Choosing Alternatives of Indexed Options 5.1 Requirements of Firms 5.2 Sensitivity of Payoff 6 Empirical Evidence 7 Conclusion 8 References 1 Introduction The principal-agent problem has long been a matter of discussion within organisational institutions. As a matter of fact, the owners of a limited company normally elect a Board of Directors to control the business’s resources on their behalf. However, conflict arises among these managers and shareholders due to their different objectives. As owners, shareholders would want to maximise profits while managers may want to maximise sales, build empire buildings and enjoy perks. To align the interests of both stakeholders therefore, compensation of managers should be linked with the firm’s performance. One way to do this is the introduction of options: fixed price options and indexed options. Basically, an option is a financial derivative representing a contract that gives the buyer the right, but not the obligation, to buy or sell an underlying asset at a specific price on or before a certain date. An option, just like a stock or bond, is a security. Fixed price options and indexed options differ significantly from each other. For the purpose of this assignment, we will discuss how indexed options provide a better case compared to fixed price options. 2 Fixed Price Options versus Indexed Options Fixed price options whose exercise price is already agreed upon and will remain the same until expiration date. The option exercise price is usually set equal to the stock price at grant. When an executive is given a fixed price option as a means compensation, two situations can arise. If the share price rises above the exercise price, the executive gains. On the other hand, the executive receive absolutely nothing if there is a decrease in share price In contrast, an indexed option is a stock option whose exercise price is connected to a benchmark index, which may be a specific sector index or a broad market index. Indexed price options have unknown selling price when contract is being made, and the final price of the option depends on market status on the expiration date. A change in the absolute value of the share will have no effect unless thecompanyoutperformssomestatedindex suchastheSP500 or a group of peers. Then only, the optionwillbeexercised. 3 Case for Indexed Options 3.1 Compensation for Relative rather than Absolute Performance Fixed price options reward performance in absolute terms. If the share price increases, the executives are rewarded in spite of rising market trends being unconnected to managers’ performance. Executives are still rewarded if competitors’ or the market have performed better. Similarly, when the share price falls, no rewards are given even if the firm did better than its peers. On the other hand indexed options reward relative rather than absolute performance. Hence, executives do not enjoy windfall gains by luck in rising markets, but by their performance instead. Only if the company performs better than the market or its peers that the executives can cash in. The executives have therefore further incentives to deliver good performance. The example below gives a better idea of how indexed options actually reward relative performance. XYZ ltd.’s equity stock is currently selling for $100 per share when the market (benchmark) index is at a level of 1000. XYZ limited grants an option to its CEO which enables him to purchase an option consisting of 100000 shares at an exercise price of $100, but the same will move in line with the market in future. Taking a specific case, the CEO is given indexed options. The value of the option granted to the CEO under 4 various scenarios is shown in the table below. Value of Indexed Option under Indexed Options SHAREPRICE INDEX Rises Falls Outperforms the index Index: 1150 (by 15%) Exercise price: $115 (by 15%) Stock price: $120 (by 20%) Value of option: $500,000 Index:850 Exercise price: $85 (by 15%) Stock price: $90 (by 10%) Value of option: $500,000 Underperforms the index Index: 1150 (by 15%) Exercise price: $115 (by 15%) Stock price: $110 (by 10%) Value of option: $0 Index: 850 (by 15%) Exercise price: $85 (by 15%) Stock price: $80 (by 20%) Value of option: $0 Table 1 From Table1, indexed options only reward the CEO when the companies’ stock outperforms the market, even if indexes have increased or decreased. They have a fair way of rewarding CEOs; they do not reward under-performingexecutives nor do they penalize superior performers whenever the market index has increased or decreased in respective cases. This is a convenient way of keeping CEOs motivated and thus encourage them perform well in their duties of decision making for a company’s investment. In general, indexed options reward superior performance under all market conditions. However, if the same example is taken in the case of fixed price option, and that there is a 5% change in the share price, the scenarios will differ as follows: Value of Option under Fixed Price Options SHAREPRICE RISES Exercise price: $100 Share price: $105 (by 5%) Value of option : $500,000 EXERCISE OPTION FALLS Exercise price: $100 Share price: $95 (by 5%) Value of option: $0 NOT EXERCISE OPTION Table 2 As shown in Table 2, when the share price increases from $100 to $105, the option is exercised to the benefit of the manager. The latter receives a compensation of $ 500,000. In the reverse case, when the share price falls to $95, the shareholders gets no compensation. 3.2 Protection of Managers during Market Downswings In the case of fixed price options, executives are not rewarded when the market is declining because share prices are below the exercise price. However, indexed options can well reward managers in bearish markets as long as the decline in the company’s stock price is less steep than that of his peers. Indexed options reward better performers. 3.3 Reduced Expected Costs Traditional options plans reward employees as long as the share price is higher than the grant price. However, indexed options eliminates the possibility that managers can be compensated for share price movements that are unrelated to what they might have done. Thus it helps a firm to remove or lower undeserved compensations. A study by J. Angel and D. McCabe values that the expense of providing conventional options to executives at the 100 largest NYSE-listed companies is 41 percent more than the expense of providing options that take out market outcomes. The lower expected costs against future earnings of indexed options compared to fixed priced options can only be to the advantage of companies. 4 Case against Indexed Options The advantages of indexed options over fixed price options are flagrant in light of the above. However, the application of indexed options is still rare. They lag behind fixed price options in many ways. 4.1 Unpredictability Unlike indexed options, fixed price options brings predictability and certainty to a transaction due to the fixed exercise price. Through the characteristic of ‘all or nothing’, the manager will exercise, and therefore make money, if and only if the firm’s stock price is above the exercise price. 4.2 Difficulty in Controlling Compensations Budgeting and forecasting business costs are made easier using fixed value plans. They allow for firms to plan and control how much compensation to offer to employees. Retention risk, in particular concerning non- executive staff members, can be largely minimised when compensations are close to that offered by rival companies. Indexed options, on the other hand, can cause large discrepancies in compensations and the loss of key employees. 4.3 Larger Deadweight Costs An indexed option plan has a greater deadweight loss compared to a traditional option plan. This is because, with agency problems, where the interests of owners and managers do not always line up, there is the need to expose the managers to firm-specific risk to encourage a specific type of behaviour. However, this means that they are unable to diversify their portfolios to their full potential, exposing them to both systematic and unsystematic risks while compensating them only for the systematic portion of risk. Consequently, managers will always value their equity-based compensation at less than its market value. 4.4 Tax Treatment So as to obtain favourable tax treatments, a company can grant incentive stock options. However, according to the 1994 US Code, this entails that the option price should be less than the fair market value of the stock at the time such an option is granted. In this case, it implies that the option price be fixed on the grant date. 4.5 Reluctance of Managers Managers are unwilling to accept a compensation plan based on relative performance. This is because in the case of fixed price options, when the stock market performs well, they reap high rewards for stock price performance unrelated to their own efforts. Managers are reluctant to forego the potentially huge rewards conferred by the bull market, especially when they estimate that a downturn is less likely to occur in the stock market. 5 Reasons for Choosing Alternatives of Indexed Options Besides, it should be noted that indexed options are not suitable in all cases. Some reasons are illustrated below and the corresponding alternatives are also suggested. 5.1 Requirements of Firms Compensation systems have the following functions: to compensate managers for completed work, to reduce principal-agent costs by more closely aligning managers interests with those of shareholders, and to retain the manager. Compensation that accomplishes one of these functions successfully may not carry out the other functions of a compensation system as effectively. Stock options, for instance, serve to align incentives. However, a firm where incentive alignment is not that important, would not be keen to use stock or stock options to compensate its managers. It would rather use cash compensation Cash avoids the deadweight costs that accompany any equity-based compensation plan. 5.2 Sensitivity of Payoff Indexed options do not work as expected in practice. Instead, their payoff tends to be highly sensitive to market price movements. As the market increases, the value of the variable-exercise-price option increases too. For example, Lisa Meulbroek of Harvard Business School shows that the estimated value of an option indexed to the SP 500 rises by 15% if that stock index rises by 15%. Clearly, indexing does not even achieve its aim; separating the general market movements from the movements in the value of the option. An alternative design that rewards managers only for performance and not for that is due to overall gains in the market or industry can be considered. Instead of using the firm’s stock as an underlying asset, an alternative design employs a performance benchmarked portfolio. Under this proposed structure, the value of the portfolio changes to reflect the firm’s performance, net of market and industry effects, while the exercise price remains fixed. (Meulbroek, 2001). 6 Empirical Evidence A brief empirical review will determine whether relative performance is compensated in practice. We also explore if indexed options are indeed better than fixed price options. According to Gibbons and Murphy (1990), chief executive officers are compensated upon relative performance. It was found that there is a positive and significant relationship between the remunerations of CEOs and the firm performance, but an inverse and significant one with the industry and market performance. On the contrary, Bertrand and Mullainathan (1999) report that CEOs are remunerated for market-wide and industry movements that they perceive as luck. However firms that are better managed reward their CEOs less for such market movements compared to other firms. Sloan (1993)’s also found that CEO compensation depends on earnings so as to help separate market movements from the reward. With regard to the effectiveness of indexed options, in their works titled â€Å"Indexing Executive Compensation Contracts† in 2013, Ingolf Dittmann, Ernst Maug and Oliver G. Spalt gave empirical evidence that indexed options provide incentives at a higher cost than conventional options. 7 Conclusion In light of the above, it is observed that stock options with fixed exercise prices do not properly link managers’ performance to compensation since they relate to absolute and not relative performance reward. Indexed options have higher incentive advantages over the fixed price option since it takes into account the skills of the executives. It is also highlighted that indexed options result in a lower compensation costs than equivalent fixed price options. Nevertheless, the drawbacks and suitability of indexed options should not be ignored either. As a result, a firm is well advised to properly weigh the costs and benefits of indexed options before applying them. 8 References Angel, J. and McCabe, D. (2002). Market-adjusted options for executive compensation. Global Business and Economics Review, 4(1), pp.123. Bebchuk, L. and Fried, J. (2004). Pay without Performance, The Unfulfilled Promise of Executive Compensation, Part III: The Decoupling of Pay from Performance. 1st ed. [ebook] Harvard University Press, p.24. Available at: http://www.law.harvard.edu/faculty/bebchuk/pdfs/Performance-Part3.pdf [Accessed 25 Sep. 2014]. Bertrand, Marianne, and Sendhil Mullainathan, (1999), Are CEOs Rewarded for Luck? A Test of Performance Filtering, (Princeton University, Mimeograph). Chandra, P. (2007). FINANCIAL MANAGEMENT. 1st ed. New Delhi: Tata McGraw-Hill, pp.947- 949. Dittmann, I., Maug, E. and Spalt, O. (2013). Indexing executive compensation contracts. Review of Financial Studies, 26(12), pp.31823224. Gibbons, R. and Murphy, K. (1990). Relative performance evaluation for chief executive officers, Industrial and Labor Relations Review 43, 30-51 Meulbroek, L. (2000). Executive Compensation Using Relative-Performance-Based Options: Evaluating the Structure and Costs of Indexed Options. SSRN Journal, [online] 01-021. Available at: http://dx.doi.org/10.2139/ssrn.281028 [Accessed 21 Sep. 2014]. Mueller, D. (2012). The Oxford handbook of capitalism. 1st ed. Oxford: Oxford University Press, p.386. Schnusenberg, O. and McDaniel, W. (2000). HOW TO VALUE INDEXED EXECUTIVE STOCK OPTIONS. Journal of Financial and Strategic Decisions. Sloan, R. (1993). Accounting earnings and top executive compensation. Journal of accounting and Economics, 16(1), pp.55100. Stapledon, G. (2004). THE PAY FOR PERFORMANCE DILEMMA. 1st ed. [ebook] U of Melbourne Legal Studies Research Paper No. 83, p.6. Available at: http://www.pay-without-performance.com/Stapledon-Pay-for-Performance-Dilemma .pdf [Accessed 25 Sep. 2014]. Symes, S. (2014). Advantages Disadvantages of a Fixed-Price Contract. [online] Small Business Chron.com. Available at: http://smallbusiness.chron.com/advantages-disadvantages-fixedprice-contract-21066.html [Accessed 23 Sep. 2014].

Languages of Love

Love is something that you give away and it comes right back to you. Good evening everyone! Old or young, rich or poor, we all have a God-given yearning to love and be loved. However, due to the fallen world we live in, a lot of people nowadays would have a hard time at expressing their love to others. As a result, poor relationships are developed. But thankfully, all Is not lost! Have you heard of the â€Å"Five Languages of Love†? They are the means through which we can express or receive love.A proper understanding of these will greatly enhance our relationships. Today, allow me to share the top three love languages in my life. These are Gift-giving, Words of affirmation and Quality time. The first love language I learned, Gift-giving, was introduced by my parents while I was growing up. This, however, does not merely focus on the material value of the gift, but rather, on Its sentimental value to the giver. As much as I enjoy the tangible language of love, I also desire th e intangible ones: Words of affirmation and Quality mime.Some people may say that actions speak louder than words. But I for one believe that words do matter too. That Is the reason why Words of affirmation speaks to my heart as well. As I was brought up In a positive linguistic environment, It's easy for me to speak kind and encouraging words to others. Lastly, my most cherished of all the love languages is Quality time. This involves giving each other an undivided attention while performing any activity, or by simply Ewing at each other's side.What I love most about it is that, it provides a vessel for the memories of love in the years to come. To sum It up, understanding what kind of love language one speaks, Is the key to developing meaningful relationships. Be it with your family, friends, or special someone. Take note that aside from these three, the other two are Acts of service and Physical touch. Now that I know what my primary love languages are, don't you think it's about time you discovered yours?