Meralco Financial Analysis Essay Example

Meralco Financial Analysis Essay INTRODUCTION MERALCO is the Philippines’ largest electric power distribution company, with franchise service area covering 9,337 square kilometres. It provides power to 4. 8 million customers in 31 cities and 80 municipalities, which include the whole of Metro Manila, the provinces of Rizal, Cavite and Bulacan, and parts of Pampanga, Batangas, Laguna and Quezon. Business establishments in the franchise area account for almost 46% of the country’s Gross Domestic Product or GDP. Through Clark Electric Distribution Corporation or CEDC, a 65%-subsidiary, it holds the power distribution franchise for Clark Special Economic Zone in Clark, Pampanga. CEDC franchise area covers 32 square kilometres and 1,611 customers. The Company is organized into three major operating segments, namely, power distribution, real state and contracts, services and others. In 2010, MERALCO PowerGen Corporation or MPG (formerly Asian Center for Energy Management), a wholly owned subsidiary, was reorganized as the Company’s vehicle for potential entry into power generation. COMPANY PROFILE MERALCO marches on to its 108th year of service in 2011. Consistently in the list of the Philippines’ top five corporations and cited among Asia’s finest, MERALCO today serves over 4. 8 million residential, commercial and industrial customers. It is strategically located to serve the country’s center of commerce and industry and its hub of government services and infrastructures. It services about 30 manufacturing economic zones, which also compete in the global market. Likewise, the Company caters to providers of outsourced business process, both domestic and international. MERALCO’s 9,337 sq. km. ranchise area overs 31 cities and 80 municipalities including Metro Manila, the entire provinces of Bulacan, Rizal and Cavite; parts of the provinces of Laguna, Quezon, Batangas and Pampanga. Electrification level in the franchise area is 99%. MISSION to provide our customers the best value in energy, products and services. VISSION to be a world-class company an d the service provider of choice. OBJECTIVES: To protect and enhance the interest of its stakeholders by committing itself to the following principles. 1. The Customers are its reason for being, and therefore, they should always be treated with dignity. We will write a custom essay sample on Meralco Financial Analysis specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Meralco Financial Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Meralco Financial Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The Company must be fully responsive to their needs. The Company has the responsibility to: * Provide the customers with the highest quality products and services, consistent with their requirements and with international standards; * Treat the customers fairly, courteously and with integrity in all of its business transactions; * Act promptly on their immediate concerns and be receptive to their long-term needs and interest; and * Make every effort to ensure that the health, safety and general well-being of its customers are enhanced by its products and services. 2. The Employees are its most valued asset, and therefore, they should always be treated with dignity and with full consideration of their interest. The Company has the responsibility to: * Provide its employees with incentives and opportunities for professional growth and advancement; * Provide its employees with just and competitive compensation, and benefits that improve their living conditions and incentives * Guarantee fairness, equal treatment and opportunity and avoid discriminatory practices; and * Provide suitable and safe working conditions to protect employees from avoidable injury and illness in the workplace. . Its Investors are its principals, and therefore, the trust they have placed in the company must be honoured. The company has the responsibility to: * Apply professional and diligent management to ensure the financial viability of the company and maintain a fair and competitive return for its investors; and * Conserve and enhance its investors’ assets, and fulf il and safeguard their interest. 4. The Suppliers and Creditors are its business partners and, therefore, the relationship with them must be based on mutual respect and benefit. The company has the responsibility to: * Foster long-term stability, direct relation and continuous development with suppliers to attain quality, competitiveness, process efficiency and performance reliability; * Seek fairness, truthfulness, integrity and transparency in all of its business dealings with them; and * Seek encourage and prefer suppliers whose business practices respect human dignity and the environment. . The Competitors are its catalyst toward continuing service excellence and, therefore, the competition with them should be fair and honest, a basic requirement for national development in the distribution of products and services to the community. The Company has the responsibility to: * Promote behaviour that demonstrates mutual respect among competitors; and * Maintain the highest level of business ethics and integrity. . The Community is its business environment and the society it serves. The Company has the responsibility to: * Uphold and maintain at all times the highest standards of business ethics; * Fulfil with dedication and commitment its social responsibilities; * Undertake activities that support and contribute to the economic and social development of the country; 7. Employ proactive measures and cooperate with the government and non-government institutions in activities to serve society towards a collective benefit. * Help the government in its efforts and programs in its efforts and programs towards raising investor confidence, developing the capital market, and ensuring high sustained economic growth through good corporate governance. Observe and comply at all times with the orders, rules and regulations of the government, its agencies and instrumentalities, in the pursuit of its utility objectives and other corporate endeavors; * Institutionalize sound environmental practices in collaboration with the concerned government agencies and encourage other corporations/organizations to support all programs for an effective environmental management system. SUBSIDIARIES AND AFFILIATES * Meralco Powergen Corporation (MPG) * Clark Electric Distribution Corporation (CEDC) * Radius Telecoms, Inc. * Meralco Financial Services Corporation (FINSERVE) Lighth ouse Overseas Insurance Limited (LOIL) * Meralco Energy, Inc. (MEI) * Rockwell Land Corporation (ROCKWELL) * Republic Surety and Insurance Company, Inc. (RSIC) CONSOLIDATED FINANCIAL STATEMENTS MANILA ELECTRIC COMPANY AND SUBSIDIARIES| CONSOLIDATED STATEMENTS OF FINANCIAL POSITION| | | | | December 31 | | 2010 | 2009 | | (amounts in millions) | ASSETS| | | | | | Current Assets| | | Cash and Cash equivalents| Php 24,370. 00 | Php 17,068. 00 | Trade and other receivables net| 25,609. 00 | 21,600. 0 | Inventories at lower cost or net realizable value| 2,043. 00 | 1,857. 00 | Land and development costs at lower of cost or net realizable value| 1,708. 00 | 1,191. 00 | Other current assets| 2,027. 00 | 2,969. 00 | TOTAL CURRENT ASSETS| 55,757. 00 | 44,685. 00 | | | | Noncurrent Assets| | | Utility plant and others net| 101,009. 00 | 98,231. 0 | Construction in progress| 2,241. 00 | 3,627. 00 | Investments in associates and a joint venture| 321. 00 | 1,203. 00 | Investments properties net| 8,037. 00 | 8,021. 00 | Deferred pass through fuel costs| 1,222. 00 | 3,161. 00 | Deferred tax assets net| 42. 00 | 17. 00 | Other noncurrent assets net| 10,339. 0 | 13,184. 00 | TOTAL NONCURRENT ASSETS| 123,211. 00 | 127,444. 00 |   | Php 178,968. 00 | Php 172,129. 00 | | | | | | | LIABILITIES AND EQUITY| | | Current Liabilities| | | Notes Payable| Php 149. 00 | Php 513. 00 | Trade payables and accrued expenses| 31,138. 00 | 28,261. 00 | Income tax payable| 413. 00 | 133. 00 | Customers refund| 7,131. 0 | 9,147. 00 | Current portion of interest bearing long-term financial liabilities| 5,574. 00 | 4,069. 00 | TOTAL CURRENT LIABILITIES| 44,405. 00 | 42,123. 00 | | | | Noncurrent Liabilities| | | Interest-bearing long-term financial liabilities net of current portion| 15,498. 00 | 17,234. 00 | Customers deposits net of current portion| 23,761. 00 | 25,063. 0 | Deposits from pre-selling of condominium units| 741. 00 | 343. 00 | Deferred tax liabilities net| 3,322. 00 | 4 ,230. 00 | Long-term employee benefits| 9,547. 00 | 10,987. 00 | Provisions| 12,875. 00 | 7,492. 00 | Advances for construction net of current portion| 3,271. 00 | 2,989. 00 | Other noncurrent liabilities| 2,352. 0 | 522. 00 | TOTAL NONCURRENT LIABILITIES| 71,367. 00 | 68,860. 00 |   |   |   | TOTAL LIABILITIES| 115,772. 00 | 110,983. 00 | | | | Equity Attributable to Equity Holders of the Parent| | | Common Stock| 11,273. 00 | 11,273. 00 | Subscriptions receivable| (738. 00)| (960. 00)| Additional paid-in capital| 4,111. 0 | 4,112. 00 | Excess of Acquisition cost over carrying value of non-controlling interest acquired| (328. 00)| (328. 00)| Employee shared-based payment plan| 743. 00 | 569. 00 | Unrealized fair value gains on available-for-sale investments| 96. 00 | 71. 00 | Share in cumulative translation adjustment of a subsidiary and an associate| 12. 00 | 684. 0 | Retained earnings:| | | Appropriated| 6,000. 00 | 4,198. 00 | Unappropriated| 37,800. 00 | 37,750. 00 | Equ ity Attributable to Equity Holders of the Parent| 58,969. 00 | 57,369. 00 | | | | Non-controlling interests| 4,227. 00 | 3,777. 00 | TOTAL EQUITY| 63,196. 00 | 61,146. 00 | | | | | | | Php 178,968. 00 | Php 172,129. 00 | MANILA ELECTRIC COMPANY AND SUBSIDIARIES| CONSOLIDATED STATEMENTS OF INCOME| | | | | Years Ended December 31 | | 2010 | 2009 | | (amounts in millions, except per share data) | | | | REVENUES| | | Sale of electricity| 239,077. 00 | 178,686. 00 | Sale or real state| 3,375. 00 | 2,877. 00 | Sale of contracts, services and others| 3,009. 00 | 2,987. 00 |   | 245,461. 0 | 184,550. 00 | | | | | | | EXPENSES (INCOME)| | | Purchased power| 200,916. 00 | 150,928. 00 | Operations and maintenance| 15,711. 00 | 13,611. 00 | Depreciation and amortization| 6,219. 00 | 5,064. 00 | Provision for probable charges and expenses from claims| 5,750. 00 | 3,351. 00 | Cost of real estate sold| 2,640. 00 | 2,230. 0 | Interest and other financial income| (2,690. 00)| (4,246. 00)| Cost of services| 1,996. 00 | 1,803. 00 | Provision (reversal of provision) for probable losses from refund net| (1,632. 00)| (1,179. 00)| Interest and other financial charges | 493. 00 | 3,328. 00 | Equity in net earnings of associates and a joint venture| (283. 00)| (245. 0)| Accretion of present value impact on customers refund | 225. 00 | 555. 00 | Foreign exchange losses (gains) net| 51. 00 | (266. 00)| Taxes, fees and permits| 974. 00 | 421. 00 | Others| 654. 00 | 216. 00 |   | 231,024. 00 | 175,571. 00 | | | | INCOME BEFORE INCOME TAX| 14,437. 00 | ,979. 00 | | | | PROVISION FOR (BENEFIT FROM) INCOME TAX| | | Current| 5,233. 00 | 3,218. 00 | Deffered| (913. 00)| (595. 00)|   | 4,320. 00 | 2,623. 00 | | | | NET INCOME| Php 10,117. 00 | Php 6,356. 00 | MANILA ELECTRIC COMPANY AND SUBSIDIARIES| CONSOLIDATED STATEMENTS OF CASH FLOW| | | | | | | 2010| 2009| | | (Amounts in Millions)| CASH FLOW FROM OPERATING ACTIVITIES| Php 14,437. 0 | Php 8,979. 00 | Income before income tax| | | A djustments for:| | | | Depreciation and amortization| 6,219. 00 | 5,064. 00 | | Provision for probable charges and expenses from claims| 5,750. 00 | 3,351. 00 | | Interest and other financial income| (2,690. 00)| (4,246. 00)| | Interest and other financial charges| 493. 0 | 3,328. 00 | | Provision (reversal of provision) for probable losses from refund net| (1,632. 00)| (1,179. 00)| | Loss on disposal of utility plant and others net| 1,033. 00 | | | Provision for doubtful accounts, net of recoveries| 982. 00 | 886. 00 | | Cost of guaranteed service levels pay-out| 388. 00 | 216. 0 | | Loss from disposal of investment| | 46. 00 | | Equity in net earnings of associates and a joint venture| (283. 00)| (245. 00)| | Present value impact on customers refund| 225. 00 | 555. 00 | | Employee share-based payments| 174. 00 | 301. 00 | | Reversal of write-down of inventory to net realizable value| (3. 0)| (41. 00)| | Gain on disposal of investment property| (4. 00)| | | Donation of investm ent property| 2. 00 | |   | Foreign exchange loss (gain)| 51. 00 | (266. 00)| Operating income befor working capital changes| 25,412. 00 | 16,749. 00 | Decrease (increase) in:| | | | Trade and other receivables| (10. 0)| 15,601. 00 | | Inventories| (130. 00)| (168. 00)| | Land and development costs| (517. 00)| (531. 00)| | Deferred pass-through fuel costs| 1,939. 00 | 631. 00 | | Other current assets| 955. 00 | (1,854. 00)| Increase (decrease) in:| | | | Trade payables and accrued expenses| 41. 0 | 8,798. 00 | | Customers refund| (2,241. 00)| (2,889. 00)| | Customers deposits| 1,298. 00 | 2,913. 00 | | Deposits from pre-selling of condominium units| 398. 00 | 307. 00 | | Long-term employee benefits| (1,424. 00)| (1,555. 00)|   | Provisions| (140. 0)| (4,935. 00)| Net cash generated from operations| 25,311. 00 | 33,067. 00 | Income tax paid| (4,953. 00)| (3,797. 00)| Net cash flows generated from operating activities| 20,358. 00 | 29,270. 00 | CASH FLOW FROM INVESTING ACTIVITIE S| | | Additions to:| | | | Construction in progress| (5,769. 00)| (7,914. 0)| | Utility plant and others| (2,741. 00)| (187. 00)| | Intangibles| (300. 00)| (127. 00)| | Investments properties| (110. 00)| (662. 00)| Interest and other financial income received| 1,058. 00 | 1,332. 00 | Proceeds from:| | | | Return of investment| 752. 0 | | | Disposal of utility plant and others| 82. 00 | | | Disposal of investment property| 28. 00 | | | Settlement of deliverable currency forwards| 5. 00 | | Dividends received from associates| 96. 00 | 445. 00 | Dividends paid by subsidiaries attributable to non-controlling interests| (15. 00)| | Decrease (increase) in:| | | | Other noncurrent assets| 622. 0 | (1,657. 00)| | Other receivables| | | Net cash used in investing activities| (6,292. 00)| (8,770. 00)| CASH FLOW FROM FINANCING ACTIVITIES| | | Proceeds from:| | | | Interest-bearing long-term financial liabilities, net of issue costs| 10,528. 00 | 12,398. 00 | | Notes payable| 380. 00 | 2,93 6. 00 | | Collection of subscriptions receivable| 222. 0 | 445. 00 | Payments of:| | | | Interest-bearing long-term financial liabilities| (10,748. 00)| (8,295. 00)| | Dividends| (6,187. 00)| (2,820. 00)| | Interest and other financial charges| (2,044. 00)| (1,524. 00)| | Notes payable| (744. 00)| (12,251. 00)| | Stock transaction costs| (1. 0)| | Increase(decrease) in other noncurrent liabilities| 1,830. 00 | 277. 00 | Net cash flow used in financing activities| (6,764. 00)| (8,834. 00)| NET INCREASE IN CASH AND CASH EQUIVALENTS| 7,302. 00 | 11,666. 00 | CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR| 17,068. 00 | 5,402. 00 | CASH AND CASH EQUIVALENTS AT END OF YEAR| Php 24,370. 0 | Php 17,068. 00 | MANILA ELECTRIC COMPANY AND SUBSIDIARIES| RATIO ANALYSIS| | 2010| 2009| TEST OF LIQUIDITY| | | | | | A. Current Ratio =| Current Assets| | | Current Liabilities| | | | | =| 55757. 00 | 44685. 00 | | 44405. 00 | 17234. 00 | | | | =| 1. 26| 1. 06| | | | B. Acid-test Ratio =| Cash + Short -term investments +receivables (net)| | | Current Liabilities| | | | | =| 49979. 00 | 3048. 00 | | 44405. 00 | 17234. 00 | | | | =| 1. 13| 0. 18| | | | C. Receivables turnover =| Net credit sales| | | Average net receivables| | | | | =| 245461. 00 | 184550. 00 | | 36409. 00 | 36409. 00 | | | =| 6. 74| 5. 07| | | | Average Collection period =| 365 days| | | receivable turnover| | | | | =| 365 days| 365 days| | 6. 74| 5. 07| | | | =| 54. 15 days| 72. 01| | | | D. Inventory turnover =| COGS| | | Average inventory| | | | | =| 221263. 00 | 168572. 00 | | 2971. 50 | 2971. 50 | | | | =| 74. 46 times| 56. 73| TEST OF SOLVENCY| | | | | | A. Debt to total assets ratio =| total debt| | | total assets| | | | | =| 115772. 00 | 110,983. 00| | 178968. 00| 172,129. 00| | | | =| 0. 65| 0. 64| | | | B. Times interest earned =| Income before income taxes and interest expense| | | interest expense| | | | | =| 14,437. 0 | 8979. 00 | | 493. 00 | 3328. 00 | | | | =| 29. 28| 2. 70| | | | TEST OF PROFITABIL ITY| | | | | | A. Profit Margin =| Net income| | | Net sales| | | | | =| 10,117. 00 | 6356. 00 | | 245,461. 00| 184550. 00 | | | | =| 4%| 3%| | | | B. Asset Turnover =| Net Sales| | | Average assets| | | | | =| 245,461. 00 | | | 175,548. 50 | | | | | =| 1. 40| | | | | C. Return on assets =| Net Income| | | Average Assets| | | | | =| 10,117. 00 | | | 175,548. 50 | | | | | =| 6%| | | | | D. Return on common stockholders equity =| Net income| | | Average common stockholders equity| | | | =| 10,117. 00 | | | 11,273. 00 | | | | | =| 90%| | | | | E. Earnings per share =| Net Income| | | Weighted average common shares outstanding| | | | | =| 10,117. 00 | | | 1,127. 00 | | | | | =| 8. 98| | | | | F. Price-earnings ratio =| Market price per share of stock| | | earnings per share| | | | | =| 10| | | 8. 62| | | | | =| 1. 16| | | | | G. Pay-out Ratio =| Cash Dividends| | | Net income| | | | | =| 7,834. 00 | | | 10,117. 00 | | | | | =| 77. 43| | ANALYSIS HORIZONTAL AND VERTICAL ANALYSIS REVENUES For the year end December 31, 2010 MERALCO procured a Php245, 461 million revenues, 33. 0% higher than previous year revenues worth Php184, 550 million. Sales from the three major operating segments increased during the year 2010 with the power distribution as the top performing operating segments. Php178,686 million sales from electricity was a 96. 82% of Php184,550 million. EXPENSES Expenses for the year 2010 amounted to Php231,024 million was increased by Php55,453 million or 31. 58% due to higher purchased power that was increased by 33. 12%. In support to this, purchased power got 86. 97% of the total Php231,024 worth of expenses. NET INCOME Php10,117 million net worth of income of 2010 was 59. 7% higher than 2009 it’s because of the higher sales of electricity for the year 2010. Eventhough the net income for the year 2010 is just a 4. 12% of the total sales the company still achieved its higher net income compare to 2009. CURRENT ASSETS As of December 31, 2010, the Com pany’s consolidated cash and cash equivalents amounted to Php24,370 million, Php7,302 million or 42. 78% higher compared with the balance of Php17,068 million of December 31, 2009. In addition, cash and cash equivalents achieved 13. 62% of its Php178,968 million total assets. This is due to a higher average collection period from 29 days to 24 days. Other increase in current assets may be due to higher sales for the year 2010. CURRENT LIABILITIES Current liabilities had increased by 5. 42% or Php2,282 million by the year ended December 31, 2010 with trade payables and accrued expenses having the highest increase worth Php2,877 million, achieving 20. 52% of its total liabilities. Decreases in the current liabilities was due to payments of some payables and some customer’s refund. NONCURRENT ASSETS Most of the noncurrent assets had decreased by the year 2010, this is due completion of major electric projects and due to consumption of fuel gas. NONCURRENT LIABILITIES A total of Php4,789 million increase in noncurrent liabilities of the company may due to issuance of long term obligations that could result in an increase in working capital. This increase was due to pre-termination of some loan deposits received from units sold on instalment contracts. EQUITY The employee shared-based payment plan had increased by 31% as of December 31, 2010. This is due to recognition of the provisions of PFRS2, â€Å"Shared-based Payments† related to Employee Stock Puchase Plan. And a decrease of 98. 5% of the share in cumulative translation adjustment of a subsidiary and an associate was resulted from the return of capital related to the Company’s investment in FPPC. RATIO ANALYSIS CURRENT RATIO A total of Php55,757 million worth of current assets definitely means a capability of the Company to pay its current liabilities worth Php44,045. This means a 1. 26 current ratio is an indicator of a slightly strong financial position . ACID-TEST RATIO A 1. 13:1 acid-test ratio of the company simply portrays that its most liquid assets can settle its current liabilities. RECEIVABLE TURNOVER The Company can collect its receivables 6. 74 times in a year with an average of 54. 15 days or less than two months collection period. This situation is favourable to the company’s present position. INVENTORY TURNOVER As inventory is being concern, the company is efficient in managing its inventories. A 74. 46 times inventory turnover is a proof of the latter statement. It is not too high nor too low indicating a better liquidity. DEBT TO TOTAL ASSET RATIO More than half of the company’s assets are financed through the company’s debts. This is proven by a 0. 65 ratio of debt to total asset. TIMES INTEREST EARNED Since the earnings of the company, Php14,437, is higher than its total interest expense, Php493, the company has the capability to settle its debts. Getting a 30. 28 ratio means that the company is able to meet its interest obligations because its earnings is significantly greater than its annual interest obligations. PROFIT MARGIN Compare to 2009 profit margin of 3%, the company got 4% profit margin which indicates that the revenue earned, Php245, 461million by the company was effectively converted into actual profit, Php10,117 million, despite of Php231, 024 total expenses . ASSET TURNOVER The 1. 4 asset turnover ratio of 2010 is relatively higher than 2009 meaning despite of Php178,968 million total assets the company still gained a total revenue of Php245,461 million with a total net profit of Php10,117 million meaning the company is efficiently utilizing its assets to produce a favourable profit. RETURN ON ASSETS The company has a total 6% return on assets of 2010 which is 2% higher than 4% return on assets of 2009 indicates that the company can make an intelligent choice on how to spend its money on new assets. RETURN ON COMMON STOCKHOLDER’S EQUITY A 6% increase in return on common stockholder’s equity simply indicates that the company is generating profits on its common stock investment meaning it is generating an income for the benefit of common stockholders. EARNINGS PER SHARE With an 8. 62 earnings per share which is higher than the 2009 EPS, 5. 74, the company is getting a higher earnings, meaning a strong financial position. PRICE-EARNINGS RATIO The 1. 16 price-earnings mean that investors are ready to pay 10 times earnings. The company has a chance in getting numerous investors. PAY-OUT RATIO A 77. 3% of the total Php7834 can be paid back to shareholders. Investors will increase its confidence to the company. CONCLUSION MERALCO is the Philippines’ largest electric power distribution company, with franchise service area covering 9,337 square kilometers. It provides power to 4. 8 million customers in 31 cities and 80 municipalities, which include the whole of Metro Manila, the provinces of Rizal, Cavite and B ulacan, and parts of Pampanga, Batangas, Laguna and Quezon. Business establishments in the franchise area account for almost 46% of the country’s Gross Domestic Product or GDP. The Company registered consolidated revenues for the year ended December 31, 2010 amounted to P=245,461 million, 33% higher compared with the P=184,550 million for the same period last year. Sales from all operating segments increased during the year with the highest registered by power distribution. The increase in electricity spending is attributable to (i) increased number of customers across all customer classes, (ii) growth in various industries as restocking activities resume after the global economic crisis, (iii) unusually warmer temperature during the first half of the year and, (iv) election spendings. Sales from electricity amounted to P=239,077 million, an increase of P=60,391 million, or 34%, from P=178,686 million for the year ended December 31, 2009. Consolidated costs and expenses amounted to P=231,024 million for the year ended December 31,2010, P=55,453 million higher than the P=175,571 million last year, primarily due to higher purchased power costs, increased provision for doubtful accounts, accrual for compensation and employee benefits. The 2010 consolidated full year results reflect higher recurring net income compared with 2009 mainly as a result of increased volume of energy sold. Revenues generated from power distribution amounted to P=239,164 million for the year ended December 31, 2010, higher by 34% compared with P=178,752 million in 2009. Pass-through charges increased by P=48,442 million, or 33% to P=195,435 million compared with P=146,993 million in 2009, as a result of higher average generation charge during the year, partially offset by the decrease in the average recoverable system loss charge to P=11,567 million from P=16,108 million. Costs and expenses of the power distribution segment increased by P=55,211 million, or 32%, to P=225,905 million in 2010 compared with P=170,694 million in 2009. For the year ended December 31, 2010, purchased power costs amounted to P=200,916 million, an increase of 33% from P=150,928 million in 2009 brought about by the higher electricity consumption particularly from the industrial customers and increased in average purchased power cost per kWh. Operations and maintenance expense increased by P=2,100 million, or 15%, to P=15,711 million for the year ended December 31, 2010 compared with P=13,611 million for the year ended December 31, 2009 brought about by the increases in salaries and wages and provision for doubtful accounts. MERALCO’s liquidity increased as the current and quick ratio rose in 2010. On the other hand, the company’s collection of receivables had dropped down from 72 days of 2009 to 54 days of 2010. This means the company is having a good turnover when it comes to it receivables. in this connection, the company achieved the 74. 46 times of inventory turnover that resulted to a higher sales. 0. 65 debt to total asset ratio and 30. 28 times interest earned proved that the company is solvent and able to meet its interest obligations. Revenue earned was effectively converted into actual profit despite of a higher total cost of expenses still the company gained a 59% increase in net income. As far as asset is concern, the company is efficiently utilizing its asset that resulted to a favourable profit. And because of the increase, we can say that the company is profitable and this could gain the trust of shareholders and may attract investors. RECOMMENDATION MERALCO’s total performance could be the basis of prospective investors to invest and it could be the reason why present stockholders will continue to do business with the company. A favourable increase in sales as well as the increase in net income may not be an indicator of a total good performance of a company. The management should still preserve its good turnover on assets and inventories to preserve its stockholders and the legacy that MERALCO had started ever since. The company should sustain its good performance since it’s the number one electricity supplier here in the Philippines. The service should be enhanced and be improved as well. Customer’s refund should be minimized as well as the receivables. The company should think of a better way of reducing refunds and receivables without sacrificing it’s service and trust of the customers. Assets should continue to increase and be utilized in the right manner. Acquiring of assets should be done in the right time so that the company will not suffer in paying its unwanted debts. Continuous improvement and innovation when it comes to service is highly recommended for the company to hold its present position in the market. MERALCO should continue to give light and power to the entire archipelago.

Assimilation, Ethnic Pluralism, and Transnationalism

Assimilation, Ethnic Pluralism, and Transnationalism Human beings experience forces to conform when they migrate into new and culturally foreign atmospheres. Immigrants may adapt to the cultural and social practices of their host communities through assimilation, ethnic pluralism, or transnationalism. These forms of adaptation have a number of similarities and differences that make them appropriate in different conditions.Advertising We will write a custom essay sample on Assimilation, Ethnic Pluralism, and Transnationalism specifically for you for only $16.05 $11/page Learn More Assimilation involves the incorporation of the minority immigrant groups into the majority group. They adopt the culture of the majority community. Ethnic pluralism, on the other hand, does not involve full integration. The minority communities retain their cultural and social distinctions, as they dwell in foreign countries. Transnationalism is the next mechanism for conformation. It applies to migrants who do not stay in one country but continuously cross-national borders. Assimilation has negative psychological consequences. Leading researches say that migrants who culturally assimilate experience advanced levels of stress and metal problems. In addition, such immigrants live under fear if they conform due to external forces. This is because it is not possible for immigrants, particularly first and second generations, to assimilate completely. Usually, if immigrants do not experience social assimilation, they cannot experience cultural assimilation and identity assimilation. The latter is the perfect form of assimilation, yet is difficult to achieve. Unlike assimilation, the modern society widely accepts transnationalism. This form of adaptation helps individuals to maintain social connection across national borders. In so doing, immigrants increase positive relationships between receiving countries and home countries. This helps immigrants to have an economic impact in two countries simultaneously. Immigrant entrepreneurs bring capital from their home countries and invest in the foreign countries. In return, they repatriate some of their profits back home.Advertising Looking for essay on ethnicity studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More Transnational immigrants have the opportunity to influence politics in the host country. They can also influence politics back at home. However, in practice, only a few of them make use of the absentee ballot. Immigrants can develop transnational identities. They may identify with both their home countries and receiving countries. However, it is always not easy for them to identify fully with receiving countries. This is because immigrants, especially high-skilled immigrants, rarely have negative encounters in host countries. Therefore, they maintain national identity with home countries and endeavor to build national identity with host countries. This usually leads to rising of cosmopo litan individuals who have developed transnational identification with many nations. Many people also appreciate ethnic pluralism. It works when the majority communities and minority communities tolerate each other. In this case, each community learns from each other. In addition to transnationalism, assimilation and ethnic pluralism cause identity change. Immigrants experience an increase in levels of loyalty towards their home countries. Immigration, also, disrupts an individual occupational identify. Individuals who work as middle class employee in their home countries cannot find similar jobs a broad. They end up doing unskilled jobs. Their social position in the society also declines. When immigrating, people should be aware of their right to movement, expression, and association. The information is useful in choosing the right ways to conform to their host communities. Assimilation has a number of setbacks and, therefore, not fit for immigrants.Advertising We will writ e a custom essay sample on Assimilation, Ethnic Pluralism, and Transnationalism specifically for you for only $16.05 $11/page Learn More Individuals should embrace ethnic pluralism while permanently dwelling in foreign nations. However, immigrant who can take advantage of globalization should not embrace either assimilation or ethnic pluralism. Transnationalism offers many advantages to both the receiving and sending countries.

Cell phones and the dangers of them Essay Example | Topics and Well Written Essays - 1500 words

Cell phones and the dangers of them - Essay Example Cell phones should not be banned, but its' usage should be limited. Can you remember the last time you walked down the street, or sat in a caf, or engaged in any public activity and did not see a cellular phone In just about every public place a cell phone would be visible as would be ring tones of the latest sound track and in different languages. Cell phones have become so common that it is likely to see a group of friends hanging out together but each engaged in a conversation with someone else on their cell phone. The use of cell phones cannot be avoided, whether it's a business man calling to check on his appointments, or a mom calling to check on her kids, or just teenagers calling to talk with friends; whatever the reason might be, cell phones are being used by just about everyone. Who is using and why they are using cell phones are the obvious questions with simple answers. The main question to address then arises, is using a cell phone really dangerous and what can we do about it It is important to note that cellular phones are still considered a new invention and it is too soon to tell if serious health problems are really caused by using such devices. However, a lot of research has been conducted in the past few years and many of the researchers are having a controversial debate to the severity of the problems caused by cell phones. According to www.cancer.org, "some recent studies have suggested that long-term use of cell phones may increase the risk of acoustic neuroma, a rare tumor that develops in the nerves near the inner ears."1 Even though this study has not been hundred percent certified as of yet, it is still something serious to look into. Would you really like to continue using cell phones thinking there is a possible you might develop a "rare tumor" All of a sudden, the prospect of having long conversations about nothing in particular does not seem very appealing. There are many ways to deal with this problem though. Just because a suspicion tells us that there is a possibility of a health-risk does not necessarily mean we should all panic and throw out our phones. As indicated by the Food and Drug Administration Center for Devices and Radiological Health and the Federal Communications Commission, "If there is a risk from these products -- and at this point we do not know that there is -- it is probably very small." 1 For those users who are still not convinced and suspect that cell phone poses a great threat to their health, they are advised to limit their cell phone conversations. Another helpful way to prevent health issues is to wear a headset instead of putting the cellular to your ear, that way the cell phone itself has less direct contact to your head and cell tissues. 1 Yet, there are other sources that state the risk of health-related problems from cell phones is neither a suspicion nor a myth, but rather a fact. According to British physicist Dr. Gerald Hyland, "If mobile phones were a type of food, they simply would not be licensed."2 That is a very strong statement to make about an obvious safety question and concern. In another cancer related website, Dr. Gerald Hyland is quoted again and this website does not talk about mere suspicions but rather addresses the matter in a very serious manner. To focus on why cell phones are possibly considered unsafe, the website explains that the cell

International business Case Analysis - Wal-Mart Essay

International business Case Analysis - Wal-Mart - Essay Example Why was Wal-Mart unsuccessful in Germany, withdrawing in 2006, and relatively successful in the UK? 12 Reference 16 How attractive was the discount retailing industry in the USA when Wal-Mart first began operations in the 1950s. The US retail industry has considerably changed over the few decades due to two related trends, one being the discount retailing and second factor is the increasing prevalence of the large retail chains. The discounting retailing sector is controlled by chains. The concept is fairly new and the first discount store appeared in the 1950s. Discount retailing is one of the most dynamic sectors in the retail industry. Until 1990s two important retail chains were Wal-Mart and Kmart (Jia, 2007, p. 5). The retailing industry is known to be the second largest industry across the globe with respect to total number of establishment as well as total number of employees. The retail industry generates about $3.8trillion annually. The top five retail industry operating acr oss the world are Wal-Mart, Target, Home Depot, Costco and Kroger. Wal-Mart apart from being the largest retailer globally is also the largest company and generates approximately $256billion sales annually. In discount retailing industry the two main competitors are Wal-Mart and Target. ... With regards to Wal-Mart, suppliers who do not maintain or live up to the expectation of Wal-Mart point of system are thus replaced. Wal-Mart being a big brand and is powerful enough to make the suppliers recognise the fact and the situation when they do good business and thus can very conveniently switch suppliers at its convenience when they do not perform the work as expected. The suppliers also cannot afford to lose on the big brands, the key players and hence the supplier power tends to be low. As shown above the bargaining powers of customer are relative high as discount retail purchase can be substitutable and thus consumers has the power to go between the competitors depicting a high bargaining power. The switching cost involved in shifting from one competitor to another is also low and the consumers demand for high quality products at discount price. It is important to understand that consumer as individual does not have bargaining power with the retail stores but as a group consumers can demand a higher quality product at low price. Consumers are also price sensitive as a result the suppliers need to keep the price low to succeed indicating high customer power. Threat of new entrant is particularly low in the discount retailing industry as there exist a high barrier to enter the discounted retail industry with respect to investors, capital and competition. The huge capital required by a new entrant to compete with all the established retailers will take a longer time and establish them in the retail market. Although the switching cost is low for the consumers but brand loyalty towards a particular brand are relatively high and consumer would not like to shift towards a

CCNA Basic (Final Assignment) Essay Example | Topics and Well Written Essays - 1000 words

CCNA Basic (Final Assignment) - Essay Example 4. Define redistribution filters, if desired. 5. Enable redistribution, if you defined redistribution filters. 6. Modify default global and port parameters as required. 7. Modify OSPF standard compliance, if desired To enable OSPF enter enable ospf and respond to the prompts: OSPF Config>enable ospf Estimated # external routes[0] 200 Estimated # OSPF routers [0] 60 OSPF Config>set area Area number [0.0.0.0] 0.0.0.0 Authentication Type (0:NONE, 1:SIMPLE, 2:CRYPTOGRAPHIC) [0] 1 Is this a stub area [No]: OSPF Config>set interface Interface IP address [0.0.0.0] 172.16.100.030 Attaches to area [0.0.0.0] 0.0.0.0 Retransmission Interval (in seconds) [5] Transmission Delay (in seconds) [1] Router Priority [1] Hello Interval (in seconds) [10] Dead Router Interval (in seconds) [40] Type Of Service 0 cost [1] 5 Authentication Key Retype Auth. Key Message Digest Key ID [0] MD5 Key Retype MD5 Key Override the default OSPF interface-type [No]: y OSPF interface-type override (1=broadcast, 3=NBMA, 5=point-to-multipoint) [0] 3 Poll Interval [120] Forward multicast datagrams [Yes]: Forward as data-link unicasts [No]: OSPF Config>set virtual-link Virtual endpoint (Router ID) [0.0.0.0] 10.10.10.1 Link's transit area [0.0.0.1] Retransmission Interval (in seconds) [10] Transmission Delay (in seconds) [5] Hello Interval (in seconds) [30] Dead Router Interval (in seconds) [180] Authentication Key Message Digest Key ID [0] Message Digest Key Retype Message Digest Key (c) Configure manual summarization for 10.201.1.0/24, on serial 2, using EIGRP - using an example of one default route hostname branch1 ! interface Serial2 ip address 10.201.1.0 255.255.255.0 ... router eigrp 10 redistribute static metric 56 100 255 1 255 network 10.201.0.0 ! ip classless ip route 0.0.0.0 0.0.0.0...This will allow you to have 32 subnets (25). After using the five bits for subnetting, you are left with 11 bits for host addresses. Therefore, this will allow each subnet to have 2048 host addresses (211), 2046 of which could be assigned to devices. (d) Configure DHCP using a pool called 'ISP' containing 10.10.0.0/16. Include the default gateway of 10.10.0.01 and a DNS server at 10.10.0.5. Exclude the range of IP address from 10.10.0.1 to 10.10.0.15 Edit the /etc/dhcpd.conf file to configure DHCP service. In our setup, the server has IP address 10.0.0.1 and provides IP addresses up to 253 clients. Configure /etc/dhcpd.conf according to your environment:

The Concept Of Doubt Philosophy Essay

The Concept Of Doubt Philosophy Essay About 4th century BC when the anti-vedic Movements like Buddhism etc has started, The exponents of the vedic Philosophy and religion keenly felt the need of showing greater accommodation to rationalistic modes of thought. The rationalistic sources available for vedics religion and philosophy has to be pooled together and kept fit for defensive and offensive use. And Hence the Nyaya with epistemological exegesis and the Physics and logic of the anti- vedic vaishesika were put together. The doctrines of these two schools were systematised and redacted. Hence it was the time when the Nyaya-vasishesika had merged together, now all we are studying in nyaya is the Physics of vaishesika and Logic and epistemology of Nyaya. Though there are some differences in respect to Physical laws of in Nyaya and Vaishesika they have so many common points, hence they were merged together. The Vasihesika and Nyaya are not restricted to their scope and aim to logic in a narrow sense, With the material of the Vaishesika and its Physics along with Nyaya forms a complete system of epistemology and logic combined to some extent with psychology, Physics, ethics, ontology, religion. Such a mixed composition of Indian philosophical system is due not to any lack of appreciation of differences of value in different things, but rather to cultural outlook of India, Which is dominated by an intense desire to synthesize all the departments of knowledge in a scheme of progressive realization of truths and the universe we live in. The scheme of Nyayas external relation, its dialectic machinery, its theory of truth and error, its creationistic view of causation, its thought measuring devices and precise formulas form its ever-spread never fading foliage. Its chief boast is its Logical dialectic machinery, which the believers and the heretics, The astikas and the nastikas alike, cannot do without. In Indian Philospohy it is said that whoever knows the Nyaya, knows the pramana,is a pramanavith, i.e a philosopher in a strict sense Nyaya signifying logic is etymologically identical with Avyaya the five membered syllogisms. Nyaya defined in many ways like the Hetu-Vidya or Hetu-sastra means the science of causes, Anvikishiki The science of inquiry, Pramana sastra the science of valid knowledge, Tattva-sastra the science of categories , Tarka sastra the science of reasoning , Vaddahrta the science of discussion and Phkkika sastra the science of sophism. Nyaya is chiefly concerned with Valid Knowledge and its source.The Nyayas Realism and the Vaishesika Atomistic Pluralism when put together is called the theory of everything. Hence Nyaya combined with Vaishesika can be called as The theory of everything in one word. Beginning from the vast universe to the atoms in the matter every thing was clearly explained by two great scientist of the ancient India, They are Kannada and Gautama. These people should be identified as scientist rather than sages. These two scientists and explained the major concepts regarding man, nature, society and science.. Their works are undoubtedly greatest contributions to the Mankind. Even when I entered the field of nyaya, I was amazed to see that how, these ancient scientists has coined the definition of Gravitation and Sound. It was mentioned that sound travels in the form of waves. Not only these the famous Newton 3rd law That every action has an equal and opposite reaction and the Einsteins concept of matter,I.e matter can neither be created nor destroyed was clearly explained. The name Kannada itself suggests that Atom -eater,He had done extensive research on the atoms and had a very scientific approach towards the universe. When I came through these concepts,I was really amazed, that how these people can formulate these postulates some 2600years ago. At the same time there are many lapses and misconceptions too, we do not know whether these were in the original texts or induced in between. Here I would like to mention one quote of the Famous economist of the ancient India- Pradipaha sarva vidyanam Upayaha sarva karmanam Asrayaha sarva dharmanam anvikishiko Matha!! This is the Quote of Kautilya the Great Philosopher who proposed theory on economy famously called artha sastra This means- Nyaya has ever been esteemed as lamp of all sciences, the resource for all the actions and the shelter of all virtues Of all the Nations in the world the Indians and Greeks appear to to have developed Logic and epistemology to large extent, Independently. except the Five membered Syllogism. Indian Logic is dated back to 6th century BC and the Greek logic originated in the fourth century BC though its germs can be traced a little earlier in the controversies of the sophist and Socrates . The Aristotle can be called the Gautama of Greece. The five membered syllogism is a gift from India to the Greeks.it is written in the history that the Indians meeting some foreign person at sweetadweepa had taught this syllogism to the Greeks.( controversies are there regarding this) Although the word Logic is being used as a synonym to Nyaya, but it is not Identical with it. Logic only covers some of the subjects of Nyaya. The Indian Logic and epistemologys development can be divided into three periods namely Ancient (650BC-100AD) Medieval (100AD-1200AD) Modern (From 1200 AD) Nyaya originated in the ancient period i.e before 650BC and there are many commentaries on the Nyaya and, some thousands of commentaries are there are on the Nyaya-Sutras of Gautama and at the same time there are many commentaries which actually misinterprets the Concepts of Nyaya. During the medieval period Navya-Nyaya had came into existence which had misinterpreted the many concepts of the Nyaya Philosophy and during the modern period there were many commentaries written on the Navya Nyaya, Thus totally ignoring the original Nyaya sutras(Tenets). But the Nyaya is unapproachable to the English speaking world as the texts are in Sanskrit Language and most of the translated texts are covering only the first part of the Nyaya and even those translations arent totally based on the concepts of manuscripts. The nyaya sutra contains five Adhyayas (books); each Adhyaya consists of Anhikas (chapters); each Anhika has a number of sutras (aphorisms). According to the standard method mentioned above Gautama has discussed his categories and subcategories in different parts of his work. The commentators follow his treatment. Generally this discussion involved refutation of contrary views. Since the commentators refer not only to such views as are mentioned by Gautama but also not only development the exposition tends to become complicated. In order to highlight the basic doctrines and arguments of the Naiyayakas(people who follow Nyaya) and opponents I have classified the themes of the nyaya sutra under the following main heads: central theme Theory of Cognition Concept of proof It is well known fact that the authors of Nyaya and vasihesika are Gautama and Kannada, it is difficult to say that whether the systems started separately or and being allied in general attitude and view point became mixed up in later ages or an original fund of floating Ideas. The word Nyaya popularly signifies right or justice,Hence the Nyaya sastra is the science of Right judgment or reasoning, the Chinese can-li and the Tibetans rigs-bstan-bcos as equivalents of the Sanskrit Nyaya-sastra, expresses exact the same meaning. In fact the Nyaya(Logic) was in course of time deservedly held in very high esteem. If it were allowed to follow its original course unimpeded by religious dogmas, it would have risen to the very height of perfection, Nevertheless the principles of Nyaya entering into the different systems of Philosophy gave them each its proper compactness and cogency just as Bacons Inductive method shaped the sciences and philosophies of a later age in a different country.it is however to be regretted that during the last five hundred years the Nyaya has been mixed up with Law(Smrirti,Rheotric(alanakara),Vedanta,etc) and thereby has hampered the growth of those branches of knowledge upon which it has grown up as a sort of parasite. But the subject is an never aging queen. The Concept Of Doubt in The Great Indian Philospohy Introduction Every school of philosophy in India has attempted a theory of knowledge on which its metaphysical and axiological structures are based. The ultimate goal of philosophizing, and for that matter of all human enterprises, is to realize perfection or fullest all round efflorescence of ones potentialities (moksha or nihsreyasa) as the summum bonum of life and existence. For this realization knowledge of reality (Tattvajnana) is essential and necessary prerequisite. So, a theory of knowledge is regarded as propaedeutic to a theory of reality because before knowing the reality one has to know knowledge itself. This requirement is grounded in the fact that to philosophize is to reflect on the nature of reality given in experience. Every experience is caused by and pertains to an object. This reference to an object can be cognitive or non-cognitive like emotive, volitional etc. A cognitive reference consists in revelation of an object (pakasa) or in making a cognizer aware of it. Though every cognitive reference reveals an object, there is always a possibility of going astray in this reference and there is no guarantee that it will adequately and faithfully reveals its objects. This possibility of error and doubt in cognitive reference necessitates an enquiry in to is veracity. The entire epistemological pursuit begins and centers round this task. So along with consideration of objects of knowledge (prameya) and modes of knowing (pramana) there has to be awareness abut error and doubt as well so that they can be eliminated. Need for evidencing knowledge:- A cognitive reference is cognition of an object in terms of its existence, nature, characteristics, relations and functions etc. It may reveal its objects as it is (yathartha) or different from what it is (ayathartha) or there may be lack of determination of this (samsaya). That cognition is knowledge which reveals its objects as it is, i.e. which is non-discordant (avisamvadaka) with its object. Such cognition is technically known as Valid cognition prama (pramana in some schools where no distinction is drawn between prama and pramana). All other varieties of cognition are treated as different from knowledge. In other words, only that cognition can claim the status of knowledge the non-discordances or truth of which is well established through adequate evidences. There has to be assuredness/indubitability (asamdigdhatva) with regard to the truth of that cognition. The truth of knowledge is to be established on the basis of cogent and convincing evidence known as pramana. Indian thinkers point out three essential components of knowledge. They are cognitive reference to an object (arthavisayakatva), exactitude of reference (yatharthatva) and indubitability (asamdigdhatva) about exactitude. The object must be real and not fictitious. The exactitude of reference means true apprehension of the object and indubitability means adducing adequate and sufficient evidence (s) for its truth. In this essay an attempt will be made to analyze the phenomenon of doubt in its diverse forms and facets and with different perspectives. The treatment is not confined to any one system of thought as the chief feature of Indian thought is {bahuuidhavada and the mode of philosophizing is Vade vade jayate tattvabodhab} Importance of doubt Doubting is very important in human life to avoid credulous nature leading to blind faith and dogmatic belief. That is why Lord Buddha used to advise pariksya madvacah grahyah'(Accept what I say only after proper inquiry). This is what Pyrroh said in respect of Stoics in ancient Greece. Vatsyayana, the commentator on the Nyayasutras, opines that inquiry or logical investigation begins only in respect of samsayite arthe (doubtful object of cognition), thought of course Jayanata, another Nyaya thinker, states that samsayamantarenapi inquiry can begin apart from doubt as well. The other factor can be jijnasa (inquisitiveness), sisadhayisa (will to prove), or pariprccha (questioning attitude). That is why in Indian epistemological thinking we find different approaches to paksa'(Subject) mainly discussed in the context of anumana(Inference). Need to eliminate doubt Though doubting is useful, persistent doubting is detrimental, as Yajnavalkya rightly says about persistent questioning in the Brhadaranyakopanisad. Doubting can be a starting point for rise of knowledge or for verification of knowledge. This is what the Bhagwadgita advised (Tadviddhi pranipatenapariprasnenesavaya) or Lord Buddha advised as stated earlier. But persistent doubt is harmful to mental peace (anistanivarana prasanga). That is why the Bhagvadgita says, Samsayatma Vinasyati$. In order to have unwavering acivity (niskampapravrtti) also resolution or elimination of doubt is necessary. So doubt should be initial and not final. Here a distinction can be drawn between cessation of doubt and elimination of doubt. Cessation of doubt is psychological and elimination of doubt is logical. Psychological satisfaction may lead to cessation but doubt may crop up again. Only logically there can be final elimination. This distinction becomes significant in context of the controversy between Udayana and Sriharsa and Sriharsa and Gangesa and we shall revert to it later on. A deeper analysis of this issue is really enlightening and outstanding contribution to epistemology. Some conceptual distinctions The theorizing about doubt is known as samsayavada in Sanskrit. Samsayavada (Skepticism) is to be distinguished from Ucchedavada (Nihilism). In Ucchedavada doubting leads to denial of possibility of acquiring knowledge. It can be brought under Vitanda{Cavil}. The Tattvoplavasinha of Jayarasi Bhatta belongs to this category. Likewise, skepticism is to be distinguished from Agyeyavada (Agnositism). The Neti Neti statement of the Upanisads can be subsumed under this. In Lokayata/Carvaka philosophers and in Bhrtrhari, the author of Vakyapadyi (II.32-35), we find Limited Skepticism. In Nagarjuna (Vigrahavyavartini and Madhyamikakarika) and Sriharsa (Khandanakhandakadya) we have Methodogical Skepticism. In the western thought we find several other verities of Samsayavada like Epistemological Skepticism of Descartes and Psychological Skepticism of Hume. One can find their parallels also in Indian thought referred to in the Pali Tripitakas. It has to be noted that the Lokayata Skepticism has provided tremendous impetus for the development of Nyaya and Buddhist epistemology. Likewise Sriharsas contribution can not be minimized in respect of Gangesas philosophy. It is not the objective of this essay to go into details of these multiple approaches and their inputs. Hence landing on the point Nature of doubt Gautama in the Nyayasutras has given a very precise and comprehensive definition of samsaya which needs cognizance and analysis. He defines it is follows: Samanekadharmapapatteuipattervipatterupaladhyanupalabdhyavyauyauasthtasca visheshapekhso vimarsah samsayah. It can be split as follows: Samanadharma Anekadharma Tayorupapatti Vipratipatti Upalabdhi Anupalabhi Auyauashasca Visheashapeksah Vimarsah The above definition can be explained as below: Doubt arises due to having conflicting notions about one and the same object. Here mind oscillates (dolayate) between two or more alternative characterizations of that object arising from the cognition of common qualities of two or more objects and non-cognition of specific qualities of that object. Due to intervention of memory (Prasastapada rightly brings in the role of memory) mutually incompatible notions are suggested simultaneously and there is no fixity on any one notion resulting in absence of firm-assuredness in any one. Here there is no assertion or denial of any one and hence there is no definite judgment. It is absence of assured cognition and oscillation between conflicting notions. Symbolically it can be put as It may be this or that or It may be this or that or none or something else. Now let us Know the difference between the Nyayas philosophical terms like Prama,Viparyaya,samsaya and anadhyvasaya Difference among prama, viparyaya, samsaya and anadhyvasaya: It may be useful to draw brief distinctions among some cognate epistemic terms stated above. Prama stands for a true cognition which carries certitude in its truth. It is uni-judgmental and well-evidenced. Viparyaya means a false judgment which was earlier taken to be true and later on its falsity is exposed on valid grounds and assuredness in its truth is withdrawn. It is also uni-judgmental. Samsaya is multi-judgmental and here there is no fixity on one single judgment. It is indecisive (anavadharanaka) Anadhyavasaya is incipient cognition. It is vague sensation. It is unripe cognition and non-judgmental. We may not call it as cognition at all. That is way in the Nyaya system it is not given cognizance. It is also different from pre-judgmental cognition known as nirvikalpaka pratyaksa in sanskrit. Samsaya is also to be distinguished from Iha accepted in the Jain tradition. {Likewise Pt. Badarinath Shukla in his Hindi Commentary on the Tarkabhasa of Kesavamisra has differentiated samsaya from samuccaya. But he regards sambhauana (probability) as a variety of samsaya. } Typology of doubt On different grounds there can be different classifications of doubt. One classification can be as follows: About the existence or absence of an object, e.g. whether a tumor is cancerous or not, or whether God exists or not etc. About properties of a substantive e.g, sound is eternal or not, or whether light traverses in the form of waves or corpuscles. About the presence of this or that object, e.g. whether it post or human. Here the alternatives can be two or more. The alternatives may all be false and this may necessitate further investigation. The alternatives may all be true in different contexts or from different perspectives. Or, only one alternative may be true and the rest false. It will be an interesting as well as rewarding exercise to work this out. The other typology is on the basis of type of pramana(valid knowledge. For example in the Nyaya system four types of pramanas are accepted and hence there can be four types of doubt pertaining to perceptual, inferential, testimonial and analogy-based identificational cognitions. Generating conditions of doubt Doubt may be generated by any defect in the causal collocation (karana samagri) of knowledge as follows Defective functioning of cognitive senses due to various reasons. Epistemological thinkers have discussed these factors in great depth. Doubt may be generated due to faulty intervention of memory Mental delusion or disturbance may cause doubt And finally absence of conclusive evidence may result in doubt. Role of Tarka in removal of doubt. We may now revent to the problem of elimination of doubt. Just as doubting is helpful in arriving at truth, removal of doubt is also equally needed. Doubt arises due to presentation of conflicting alternatives (kotis) which may be contrary or contradictory each one claiming truth. This leads to oscillation and indecision in mind. So doubt has to be overcome to remove the deadlock and unless this is done, knowledge cannot be arrived at. In the case of different pramanas there are different modus operandi. For example , in the case of perceptual and analogical cognitions repeated observation, controlled experiment, crucial evidence (vinigamaka) etc. are helpful. In testimonial cognition conscience may be helpful but it cannot provide logical elimination. The Purva Mimamsa system accept Codana for this purpose which is regarded as infallible. But this problem of elimination of doubt has been discussed threadbare in the context of anumana(Inference) and this needs some analysis. The Carvaka/Lokayata thinkers raised serious objection for accepting validity of anumana(inference). Bhartrhari gave a classical formulation to their objections. This was extended by Nagarjuna and Sriharsa in their own way. Though Udayana in Nyayakusumanjali (Chapter III) and Santaraksita in Tattvasamgraha (1481-3) try their best to answer Carvaka/Lokayata objections, their replies have not been logically satisfactory. Any recourse to tarka or kalpana does not satisfy logical requirements. Udayanas arguments have been responded be Sriharsa and Gangesas replies to Sriharsa have been infirm. One may even refer to Raghunathas commentary on Khandanakhadyakhadya for this . Tarka rests on contradiction and contradiction itself rests on tarka. This involves the fallacy of pititio principi. In fact no human experience is immune from doubt and Sahara, the Purva Mimamsa thinkers, are right in this. For empirical purposes epistemology works well ultimately it falls down. That is why Adi Samkara has put all pramanavyavahara under avidya following the Upanisads. The point is that only on psychological grounds doubt can be resolved and there can not be logical elimination of doubt. The devil of doubt will always haunt human cognitive enterprises and we have to put up with that. But this is not pessimism but a warning to be vigilant. We do need epistemological inquiries but we have to be cautious and on the guard.

The Theme of Power in Yellow Wallpaper and Bartleby -- The Yellow Wallp

The Theme of Power in Yellow Wallpaper and Bartleby   Ã‚  Ã‚   Many texts written in the nineteenth century have a very apparent theme of power. Authority can be seen very differently depending on the view of the transcript the audience is presented with. By looking at different transcripts within the text the reader has more realistic exposure to the resistance of power in that text. This paper will prove that transcripts of differing views allow for different interpretations of the power struggle itself. Using James C. Scott this paper will examine the transcripts of both Charlotte Perkins Gilman's, "The Yellow Wallpaper" and Herman Melville's "Bartleby." These two texts are opposite in many ways, which make them fascinating to study through Scotts eyes, because together they extensively cover the four situations he focuses on. The first transcript which Scott discusses is that of the public's view. He describes that "the public transcript is to put it crudely, the self-portrait of dominant elites as they would have themselves seen"(18). Since the narrator of "Bartleby" is a member of the "dominant elite" this text is a great example of how the public transcript is used to show resistance and power. Text written from this point of view, focus on trying to make the elite seem good, just, and noble. The narrator of this text did a wonderful job at doing just that. At one point while talking about Bartleby he told the audience "Not only did there seem to lurk in it a certain calm disdain, but his perverseness seemed ungrateful, considering the undeniable good usage and indulgence he had received from me"(Melville 18). The narrator was basically saying, I was so good to Bartleby, how dare he not appreciate all my kindness. It is... ...isplay, how within texts there could be many different forms of resistance and views of authority, depending on the transcripts used to understand them. Each text read in this class, on the surface value, provides an entertaining story, however the same text through deeper reading are able to decode much more complex plots. On the surface Bartleby is just a very strange employee, and the narrator of Gilman's story is just an insane woman, but by digging further this paper was able to display much more intensity to them both. Works Cited Gilman, Charlotte Perkins. "The Yellow Wallpaper" and other Stories. Mineola, NY: Dover Publications, Inc., 1997. Melville, Herman. Bartleby and Benito Cereno. 3rd ed. NY: Dover Publications, Inc., 1990. Scott, James C. Domination and the Arts of Resistance: Hidden Transcripts. New Haven: Yale University Press, 1990.

“Baby Love” and “Mothership Down” Compare and Contrast Essay Essay

Often conflict between parents and their children are used within young adult fiction stories in order to develop the plot in the specific way. Conflict between parents and their children is an everyday struggle that all families must face, it often leads to a life lesson in which both the parents and children learn something new. Within the short stories â€Å"Mothership Down† by Marty Chan and â€Å"Baby Love† by Kathy Stinson this is precisely what has happened. In both pieces the conflict within the family (main character and parent) has resulted in a very negative way, as where the main character realizes hisher own mistakes and tries to own up to and resolve the situation and what it has become. In â€Å"Baby Love† by Kathy Stinson the main character happens to have a second chance to clean up the mess that she has created, unlike the main character in the story â€Å"Mothership Down† by Marty Chan. The main character in this text loses his chance to patch things up with his father, and he will never get the chance to. A similarity between â€Å"Baby Love† by Kathy Stinson and â€Å"Mothership Down† by Marty Chan is both characters have trouble communicating with their parents, this is why the plot developed the way it did and where the main conflict started. In the text it says â€Å"And she wished her mom was there. She should have said yes when her mom called earlier and offered to come home.† The narrator said this when Chelsea (the main character) realized that she needed the help that her mother persistently offered, but Chelsea was dead set against needing the help of her mother. In Chelsea’s mind her mother wasn’t trying to help, she was trying to take over the role of Abigail’s (Chelsea’s baby) mother. A similar event happens in the story â€Å"Mothership Down† by Marty Chan. It has been 3 long years since the main character in this text has spoken to his father all over a silly little miscommunication. The main character decides to call home and check in on his family specifically his father, this is when he learns the news of his father’s terminal cancer. In the text it says â€Å"I wanted to tell him I was sorry, but I decided to leave it for another time.† This turns out to be a fatal decision. Both â€Å"Baby Love† by Kathy Stinson and â€Å" Mothership Down† by Marty Chan the main characters both unknowingly make bad decisions by holding off  on doing something that turns out to change the plot drastically. Another similarity between â€Å"Baby Love† by Kathy Stinson and â€Å"Mothership Down† by Marty Chan and how the conflict between parent and child develops the plot is both of the texts end in regretting something. In â€Å"Baby Love† by Kathy Stinson Chelsea wanted to care for her baby on her own, when she realized that she could care for her baby all alone she experience a mental break down and screamed at her baby. Chelsea regrets not accepted the help that was offered to her by her mother. Evidence from the text that was found is â€Å"But a mom was supposed to know what to do when her baby cried. And she didn’t.† Chelsea feels as though she failed as a mother and she could have seriously injured her own baby. Maybe if she would have just accepted her mother’s help she wouldn’t have had the break down that she did. She never would have yelled at her baby or experience the hatred towards herself and the baby as she did. Chelsea regretted the feelings that her baby made her feel if only she would have accepted the help that her mother offered to provide. Meanwhile in the story â€Å"Mothership Down† by Marty Chan the main character regretted not apologising to his father while his father was still alive and while the main character had the chance. In the text it states â€Å"dad died on a Thursday morning. I never got the chance to tell him.† Also it says â€Å"I realized that one person can make a difference if that person chooses to do nothing at all.† The main character regrets not apologizing because he made a difference in a negative way, he now needs to live with the guilt of having too much pride as to apologise to his dying father, for not talking about how hurt he was that his father never stood up for him over his new old car to his friends. The two selections â€Å"Baby Love† by Kathy Stinson and â€Å"Mothership Down† by Marty Chan tie together in developing the plot with the conflict between the man character and their parents because both main characters should have sucked up their pride and gave in to the fact that they were wrong. A main difference between â€Å"Baby Love† y Kathy Stinson and â€Å"Mothership down† by Marty Chan is the parenting style chosen by the parent in both of the selections. The mother in the story â€Å"Baby Love† is suffocating her daughter (Chelsea) and her granddaughter (Abigail) with love so to speak. The mother  continuously offers her help to Chelsea in the aid of raising her baby Abigail. An example of this is when the mother tried to bottle feed Abigail rather than Chelsea breast feed all the time. The mother also offered to stay home from work to help Chelsea care for her baby Abigail again. In the text it says â€Å"You wouldn’t be so tired if you’d let me give her a bottle once in a while.† And â€Å"But Lorraine said shed fill in for me till the end of the month.† The mother is very persistent in trying to help Chelsea with Abigail. In the other story â€Å"Mothership Down† by Marty Chan the father of the main character doesn’t offer to help his son when he is looking for his father’s help. The main character’s friends are talking trash about his old new car that he bought and picked out by himself, and he wanted his father to stand up for his car but he never. This came directly from the text â€Å"I looked right at Dad, expecting him to say something. To help me out.† It also says â€Å"You know what he said instead? Beggars can’t be choosers.† This very clearly made the main character furious. Towards the end of the story we find out in â€Å"Baby Love† by Kathy Stinson the mother tried helping out her daughter because she knows how hard it is to raise a baby, much like the story â€Å"Mothership Down† by Marty Chan we find out the father only done this to help his son out, the father thought his son could stand up for himself. These simple misunderstandings is how the plot was developed. â€Å"Baby Love† by Kathy Stinson and â€Å"Mothership Down† by Marty Chan have many similarities and differences. Both contain parent/child conflict which develops the plot in the end of each story, both make you realize that in the long run both parents only wanted the best for their children even if it wasn’t clear to the children in the beginning.

Free Essays on The Tragic Hero Of Antigone

The Tragic Hero of Antigone Sophocles’ Antigone is the story of the battle between Antigone and Creon and their different views on laws placed by man and those placed by gods. Antigone is the classic tragic hero in the Greek tragedy. She has good intentions throughout the entire play; her one downfall is her tragic flaw of pride and being driven by emotions. Antigone is the daughter of Oedipus, the king, and she truly belongs in the high position of princess in the royal family of Thebes. Antigone has good morals and intentions throughout the play. She wants to see justice served even if she has to disregard the laws of man. â€Å"I never thought your mortal edicts had such force that they nullified the laws of heaven† (Antigone 210). She knows that without a proper burial, which is demanded by the gods, the gods in heaven will not accept Polyneices. Although Antigone is disobeying her king, she is very loyal to her family and the ones she loves. When Creon orders for Antigone and Ismene to be executed Antigone takes all the blame to save her sister. â€Å"She and her sister will not now escape the utmost penalty† (Antigone 211). â€Å"I did it too† says Ismene, but Antigone retorts with â€Å"That is not true you do not share with me, nor did I grant you partnership† (Antigone 214). Antigone is very prideful and she is also driven by her deep emotions, this is her tragic flaw. We see her pride when she does not let Ismene claim any responsibility of the burial and when she tells Ismene that she does not want her help. â€Å"I would not want you as a partner even if you asked† (Antigone 194). Antigone also has problems thinking straight because she reacts based solely on what her emotions tell her to do, instead of taking a well thought out course of action. When she hears of Creon’s creed to deny Polyneices burial she immediately goes against Creon. A better plan of action would have been for Antigone to address Creon... Free Essays on The Tragic Hero Of Antigone Free Essays on The Tragic Hero Of Antigone The Tragic Hero of Antigone Sophocles’ Antigone is the story of the battle between Antigone and Creon and their different views on laws placed by man and those placed by gods. Antigone is the classic tragic hero in the Greek tragedy. She has good intentions throughout the entire play; her one downfall is her tragic flaw of pride and being driven by emotions. Antigone is the daughter of Oedipus, the king, and she truly belongs in the high position of princess in the royal family of Thebes. Antigone has good morals and intentions throughout the play. She wants to see justice served even if she has to disregard the laws of man. â€Å"I never thought your mortal edicts had such force that they nullified the laws of heaven† (Antigone 210). She knows that without a proper burial, which is demanded by the gods, the gods in heaven will not accept Polyneices. Although Antigone is disobeying her king, she is very loyal to her family and the ones she loves. When Creon orders for Antigone and Ismene to be executed Antigone takes all the blame to save her sister. â€Å"She and her sister will not now escape the utmost penalty† (Antigone 211). â€Å"I did it too† says Ismene, but Antigone retorts with â€Å"That is not true you do not share with me, nor did I grant you partnership† (Antigone 214). Antigone is very prideful and she is also driven by her deep emotions, this is her tragic flaw. We see her pride when she does not let Ismene claim any responsibility of the burial and when she tells Ismene that she does not want her help. â€Å"I would not want you as a partner even if you asked† (Antigone 194). Antigone also has problems thinking straight because she reacts based solely on what her emotions tell her to do, instead of taking a well thought out course of action. When she hears of Creon’s creed to deny Polyneices burial she immediately goes against Creon. A better plan of action would have been for Antigone to address Creon...

Chances Fat and Slim

Chances Fat and Slim Chances Fat and Slim Chances Fat and Slim By Maeve Maddox A reader wonders about two expressions: For many years I’ve wondered about Fat Chance and Slim Chance – both meaning â€Å"little chance,† but where’d they come from? The Ngram Viewer indicates that â€Å"slim chance† came along about eighty years earlier than â€Å"fat chance† and that â€Å"slim chance† is far more common in print than â€Å"fat chance.† A Google search shows the expressions in about equal use on the Web. One meaning of slim is â€Å"thin† or â€Å"slender,† but its meaning in â€Å"slim chance† is â€Å"meager, scanty, sparse.† I’d guess that the expression â€Å"fat chance† originated as a play on words. Both expressions are popular in titles for books and articles that have something to do with obesity or fitness. Slim Chance, Fat Hope: Societys Obsession With Thinness Slim Chance in a Fat World Fat Chance! The Weight Loss Workbook â€Å"Obese People Have Slim Chance of Obtaining Normal Body Weight† â€Å"Critics say mesotherapy offers slim chance† â€Å"Why dieters have fat chance of losing weight† Although many speakers share the reader’s idea that both expressions mean the same thing, the two have different meanings. If there’s a â€Å"slim chance† that something will happen, then there is a possibility, albeit a small one. That’s the meaning in this headline about the current movement of migrants: How much for a spot on a rubber raft and a slim chance at a better life?† â€Å"Fat chance† is an ironic way of saying there’s no chance at all, as in this exchange between a woman and a former boyfriend: I was just wondering - † â€Å" - if Id  come back to you  now?  Fat chance. Forget it.†    Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Expressions category, check our popular posts, or choose a related post below:45 Synonyms for â€Å"Food†50 Latin Phrases You Should KnowDrama vs. Melodrama

UK Employers and Human Resource Management Essay

UK Employers and Human Resource Management - Essay Example According to the discussion  manpower cannot be totally replaced by machines. Despite the technological advances, the globalization swamping businesses worldwide has necessitated an ever more strategic approach to human resource management. Therefore, it is important that managers are able to decipher trends that may impact their companies. Still, it is also equally important to note that in manpower management, the people are a very crucial consideration as this plays out strongly in the company’s image. Empowerment has been very crucial to enhancing the productivity of these workers. However, to empower workers means that there must be a certain degree of participation on the part of these employees.From this paper it is clear that  the respective unions of employees have been very crucial in helping the labourers of a company to voice out their concerns. However, through the last three decades, there has been a weakening of these social structures which has enabled UK e mployers to have a firmer grasp on their employees to the detriment of their Labour force. The gradual weakening of the system has significantly weakened the once formidable unions of the country paving the way for companies to further flex their influences over their employees. This weakening eventually resulted in a gradual shift of human resources strategies to favour a more unitarist approach to human resource management.... Howell (2005) laments about the weakening and eventual demise of the once mighty Labour movement which bannered a significant victory for politicians against the various unions in the state. It seems that there has been a potent combination of various judicial and legislative actions as well as various forms of administrative measures coupled with various crises to forge a new way of relating to the Labour force. The gradual weakening of the system has significantly weakened the once formidable unions of the country paving the way for companies to further flex their influences over their employees. This weakening eventually resulted in a gradual shift of human resources strategies to favour a more unitarist approach to human resource management. Indeed, according to Howell (2005) the state has played a very pivotal role in this development. As mentioned. The various legislations and even the crisis of 1979 have been instrumental in the decade’s long transformation of the emplo yment conditions of the UK. Slowly but surely, the balance of power gradually tilted sharply towards the employers. As the hold of the employers strengthened, they are able to impose additional regulations and procedures with little or even no dialogues with their employees. Bennet (1997) stresses that this can be detrimental to the firm as it is tantamount to forcing the will of the organization to the employees. In so doing, important suggestions and signals may be lost wherein the employees are just made to follow the orders of the company. Unfortunately, these tend to be detrimental since they are able to foster resentments rather than conflict resolutions when the employees are by passed by these procedures.

Service marketing Essay Example | Topics and Well Written Essays - 3000 words

Service marketing - Essay Example One-third of revenues is from advertising, one-third from companies distributing products through gift packs, and one-third from sales of consumer information. Spin-off publication â€Å"One Step Ahead† is likewise successful. The firm upgraded by changing its name to CD Marketing Services, while maintaining â€Å"Circular Distributions† for the existing door-to-door distribution. Under CD Marketing , Lifestyle Marketing brand concentrated on the sale of marketing information, and invested heavily in new technological capacity; ?400,000 of investment reaped additional ?33 million in sales and ?2.4 million in profits. Two new publications are Emma’s Diary Pre-School Guide and Married Life†¦The Small Print, which both attracted higher than average response rate and additional revenue through advertising and sample packs. More importantly, the new publications aimed to collect new data and build a database about its consumers. CD publications enjoyed a high res ponse rate. Services offered by Lifecycle Marketing were availed of most especially by financial services and home shopping businesses. These services include: Segmented lists of consumers that organizations can rent for one-off use Licenses by which other organizations may incorporate CD’s data in their own databases Inclusion by client-companies of specific questions in its publications; the data generated shall be for the contracting client’s exclusive use Later, the firm embarked on systematically supplying information to companies as a regular activity. In the meantime, the traditional fmcg business was still strong, and the company is ways by which it can be improved. New clients were attracted by the door-to-door service include Internet Service Providers which distributed free CD ROMS to targeted households. The Analysis for New Service Development strategy During its early days, Circular Distributors distributed generic products in a homogeneous market, for tr ial purposes that, it was hoped, would encourage future purchases. The company eventually developed the B2B consumer information service by which data it has gathered from its consumers are organized, packaged and sold to companies. Somewhere in between the company has been able to successfully create four publications, the latter two of which are used to gather data from consumers who are constantly expanding due to lifestyle changes. All three types of services – door-to-door distribution, publications, and information databasing and sales – are growing significantly, but while information sales is highly competitive because of the number of players already established in the industry, door-to-door distribution and publications have a huge following but few competitors. These three classes of services shall be analysed in the following discussion. Marketing Analysis Size – The market size for the door-to-door delivery service is substantial, but due to the phy sical nature of the service reliance on manpower limits the extent of the service and the geographical scope is limited. Publications would have a wider reach, as far as GPs (for obstetrics and paediatrics), vicars (for weddings), registrars (for births) and similar channels of survey questionnaire