Saturday, January 25, 2020

Thesis Statement On Illegal Immigrants Politics Essay

Thesis Statement On Illegal Immigrants Politics Essay The illegal immigrant (unauthorized alien) population in the United States is a controversial and key immigration issue. Competing political views in recent years to address the illegal aliens has proven to be a core hindrance to the enactment of comprehensive reform legislation regarding immigration. This paper hopes to highlight the political issues that are connected to illegal immigration in American. The relative cheapness and increased ease of travel compounded by the improvements in information have spurred to a large extent the international illegal immigration around the globe in recent decades. Most countries that are developed experience illegal flows, but the United States has an inflow that is high in comparison to other developed countries, originating mainly from Mexico (Edmonston 50) The problem of immigration is a long standing one in the United States. Francis Walker, the then director of Census, in the 1890s, cited data of census in support of a debate that the country was at the time being overrun by immigrants who were less desirable. At this timer, this were mainly immigrants from eastern and southern Europe who were described as being beaten men who originated from a race that was beaten, he implied that the newer immigrants comprised a stock that was poorer as compared to those who had come earlier. The new immigrants did not have enough resources to leave the cities in the east so as to help the progression of the country west. As such the undesirable immigrants started to be viewed as a burden to the country. The arguments put forth by Walker contributed to an intellectual foundation development for enactments of quotas on national origins that came later. As such, even in the early studies on immigration, immigration data, examined by social, ethnicity and economic characteristics was used to support restrictions on immigration and the realignment of national origins of immigration (Bean, Edmonston, and Passel 13). Politics and illegal immigration By October 1996, The United States Department of Justice, Immigration and Naturalization Services estimated roughly 5 million illegal immigrants that were residing in the country at that time. This figure represented an annual average rate increment of quarter million between 1992 and 1996. Illegal immigration into the United States has been a contested issue since the midcentury. A consequence of this debate was the passage of the first United States legislation which was designed to curb this illegal immigration. The Immigration Control and Reform Act was passed into law in 1986. This number was up to 7 million in 2000 and roughly 10 million in 2004. Illegal Immigration reform and Immigrant Responsibility act was passed by Congress ten years later. They were both passed with the intention of curbing illegal migration (Portes and Rumbaut 138). The origin of illegal immigration id the united states place half of those that are undocumented as originating from Mexico wit 15% form central America. Some of the motivation includes political turmoil in their countries as well as civil war which reflected the long term economical and political involvement by the United States (Johnson 2). The past two decades have witnessed very little meaningful legislation on the issue of immigration despite President Bushs attempt in his second term for comprehensive reform and also president Obamas promises in his campaign to address the issue. Pointing at the economic recession is convenient as is the health care proposal by Obama as a roadblock to reforms in immigration, but these reasons barely scratch the surface. Politicians have always shied away from asking questions that are relevant when it comes to immigration. The policy makers must shift their focus from boarder security to the more relevant underlying economic implications if proper reforms are to be made on the issue. They must As well evaluate the impact that undocumented workers have on the job market. Issues concerning illegal immigration continue languishing in political limbo because politicians do not adopt concrete strategies when it comes to addressing the issue (Johnson 7). Throughout history, politicians have addressed illegal immigration by emphasizing on border security. They have consistently stated that the reason why there are so many illegal immigrants is because the countrys borders are porous. This approach has continuously obscured the main issue that underlies this problem. The political balance on the issue has been between border security and employer sanctions. The government has been largely unsuccessful in the employer sanctions and as such the politicians find it easier to talk about enforcing border crackdowns. This approach, security focused, is not adequate to address the flow of illegal aliens across the Mexican border. These are complex movements that are based on seasonal changes and economic conditions. The border fence is thought of having the paradoxical effect of making those already in the country illegally more determined not to go back as it will be had to get back in. Policy makers in order to make reforms on immigration s tick have therefore to focus more on economic incentives that primarily bring into the country illegal aliens (Bean, Edmonston, and Passel 14). The main concern for congress and states that have a large population of illegal immigrants raise concerns about their impact financially on the programs by the government, their participation in criminal activities and generally the effect that they have in economies of the local community they reside in. the main political claim is that the illegal immigration result in an influx of undocumented workers into the market who take away most of the jobs that belong to the Americans. The jobs done by this immigrant stands roughly at 8 million. However research tends to disregard this fact as the illegal immigrants occupy job markets that are fundamentally different. The illegal immigrants perform the cheap labor such as picking tomatoes and cherries in the Californian desert (Edmonston 51). Another political concern with regard to illegal immigration is that the illegal aliens would and do in fact retain most of their original language as well as develop political issues that are foreign to those found in the United States. As such many people who are passionate about this issue have called for the punishment of illegal immigration by deportation via proceedings of removal. Others believe that the illegal aliens will overtime overpopulate the country as well as damage, culture economy and environment. Still, some believe that the illegal immigrants are criminal as their illegal presence justifies. The political outcry that tool place as a result of the influx in illegal immigration that claimed a loss of control over the border also saw Congress approve measures that would be the fist reform that is comprehensive on matters of immigration laws for more than two decades (Hanson 10). Illegal aliens in the united states once found in violation of the countrys immigration laws may be through a formal process removed from the country or may be given a chance to depart through their own voluntary action. The formal process included penalties such as imprisonment, fines of the prohibition from entering the country in future. The number of people who were legally removed in 2004 was approximately 203,000 people and about another million departed voluntarily. 42000 of the 203,000 of the formal removal were removals that were expedited. This process was designed to speed up the aliens removal that were or wanted to enter the country illegally. Despite these measures, imprisonment, deportations and sealing of borders, the rate of illegal aliens continues to rise (Bischoff 182). It is important to note that the political influence of illegal immigrants in the United States is far reaching than anticipated. Illegal aliens affect the way seats are distributed in the House of Representatives. This is because the appointment is based on the total population of each state; this includes non-citizens as well as illegal alien, relative to other states in the country. This impact is derived from estimates in the Immigration and Naturalization Service (INS), which indicated that almost 7 million illegal immigrants were counted in the census, 2000. The same report showed that the states with low-immigration rates and which might seek to be unaffected by issues of immigration have in fact had a significant erosion of influence politically in Washington (Poston Jr., Camarota and Baumle 1). Among the findings in this report include: the presence of illegal immigrants in other states caused the states of Michigan, Indiana and Mississippi to lose a seat respectively in the House in 2000 while the state of Montana failed to gain a seta it would have had otherwise; Illegal immigration redistributes seats in the House as well as the presidential election as a result of the electoral college which is based of the congressional delegation size; non-citizen present in the census redistributed in total nine seats. Non-citizens include legal immigrants, illegal aliens, temporary visitors, mainly guest workers and foreign students. In addition the four states that each lost a seat due to illegal immigrants, Pennsylvania, Oklahoma, Kentucky, Wisconsin and Utah each had one less seat than they could have had; non of the states that lost a seat because of immigrant has a population on the decline, all recorded population growths of more than a million in the 1990s; the reappointment that is immigrant-induced is not similar to reappointment that is caused when natives in a state relocate to another; Immigration takes away from the state the representation that is composed entirely of citizens and results in a creation of state districts that have large numbers of non-citizens; the states with illegal immigrants gained the most seats with California where e immigrant population is 43%gaining 10 of these seats; the political stakes to be found in low-immigration states are enormous. The illegal immigration has the ability to redistribute these sears because of the large number of illegal aliens as well as their high concentration density, two out of every three live in just three states (Poston Jr., Camarota and Baumle 1). In order to counteract the immigration problems, the United States has often responded in a number. For example, California passed an initiative in1994 that was labeled Proposition 187. This came to pass as a draconian proposal which aimers at cutting off education as well as other social services accept for emergency health care for illegal immigrants. The proposition required in addition to what is mentioned above that doctors and teachers were required to turn in such illegal aliens to the appropriate authorities. The passage of this proposal marked the return of a perennial divisive political issue in the country: who to keep in and who to keep out of a country that Native Americans are finding difficult to define as theirs (Bischoff 184). Most of the immigrants who are in the country and have stayed here for a lifetime hope that they will eventually be legalized. The county offers a unique place for this aliens as it has policy that generate legions that oversee illegal aliens almost daily but also in the process also provides them with a home where the can be legalized. The process of legalizing although controversial is an initial step that can help reduce the illegal aliens numbers. However there is no single solution to the above problem in the countrys legislative history, social and political climate and practical experience that can deal with the matter. The country has some form of organized, planned and even institutionalized action that are in place to deal with the illegal immigrants. There is also the practical and the ideologically fundamental necessity to deal with the issue. Primarily, it is to save the image of American democracy which is currently perceived as positive. Secondly, is the need to avoid lawlessness and chaos and to keep the harmonious relationship between those who have lived in the country for generations and those who have managed to acquire homes in the dreamland as a result of their illegal action. Legalization offers a significant step in the provision of hope and the pursuit of happiness for immigrants in the country illegally even though it presents practical and fundamental issues (Hanson 11). The political unpopularity of the United States policy on immigration lays on the obtrusiveness that exist in current efforts that are aimed at enforcing the united states interior accounts that would ensure the expulsion of illegal immigrants or their legalization. The political opening to the issue of illegal immigration in the country lies with the consensus that is building that emphasizes that the immigration policies are broken. This is further highlighted by the fact that despite it being a major issue, the candidates for the 2004 presidential campaign only vaguely addressed how best the reforms would be implemented even though they invoked the issues as important and deserving attention. This implies the political interest in the topic of illegal immigration in the United States (Hanson and Institute for International Economics 10). Conclusion The contentiousness that surrounds immigration often deters politicians from tackling issues on illegal aliens. If changes are implemented on Policies governing the issue, these will mainly specific groups of employers, workers and taxpayers with the aggregate effects on the economy appearing to be minimal. By revising entry and admission restrictions, the government might be in a better position to regulate illegal immigration into the country. In the discussion we see that political issues in this topic arise in different areas, from country of origin, mode of immigration and to the illegal residence in the country which presents political consequences in itself. Reforms in the immigration policy are the only way of addressing this issue adequately.

Friday, January 17, 2020

Mmc 4200 Exam 2

MMC 4200-Spring 2012 Review Sheet for Second Exam Copyright ©2012 Prof. Sandra Chance Chapter 5- Privacy 1. Where did the right to privacy come from?Development of the 20th century and often traced back to an 1890 article in the Harvard Law Review written by Samuel Warren and Louis Brandeis who argued that advances in technology and the voyeurism of urban newspapers necessitated new legal protections for privacy.The right to privacy is protected by the U. S. Constitution. (The right to be let alone and free from unwarranted governmental intrusion.because â€Å"gossip had become a business,† argues that it was rooted in the individual's dignity in the law of copyright and trespassRight to privacy isn't in the Constitution, new added on expressed right2. What are the four torts of privacy?Private factsIntrusion: a physical or technological invasion of a person's privacyFalse light: public portrayal of someone in a distorted or fictionalized †¢ Appropriation: unauthorized commercial exploitation of someone's identity3. What are the elements for a private fact case?Publication o f a private matter that is: (1) highly offensive to a reasonable person, AND (2)is not of legitimate concern to the public. -TRUTH is not a defense. -Must be widely published. -publication of information that is â€Å"so intimate† and the publication of which is â€Å"so unwarranted† as to shock or â€Å"outrage the community's notions of decency†4. What are the defenses to a private fact case?†¢ First Amendment – Protects most truthful information lawfully acquired IF not highly offensive to a reasonable person and of legitimate concern to the public.†¢ Newsworthiness Public Records and Occurrences – Strange and Unusual? – Newsworthiness over Time†¢ Consent5. What are the elements of intrusion? – Reasonable expectation to privacy – Intentional invasion of a person's physical seclusion or private affairs – Highly offensive to a reasonable person – Physical, electronically or mechanical – Does not require publication, only information gathering a single person can be sued6. What is the general rule about filming, photographing and recording? – If it is in public there is am implied consent, if not in a public place consent is needed.Media personnel can photograph, film, and record what they easily see/hear in public places provided they do not harass, trespass or otherwise intrude – Public: street, parks – Quasi-public: prison, restaurant or a mall7. When is intrusive behavior typically found not to be highly offensive? – Expectation of privacy that you are in, in a place with high -more likely to be offensive (bedroom or hospital), lower- not typically highly offensive- applies to public figures as well – Obama's bedroom is as private as mine 8. What are the rules about secret recording (hidden cameras)?See Dietemann v. Time, Inc. – Hidden devices are indispensable tools of newsgathering (newsgathering) – In Florida it is unlawful to record without other parties, you have to obtain permission – Cannot audiotape without consent if they have a reasonable expectation of privacy in Florida9. What are the elements of a trespass? – Physical invasion of someone's property without the consent of the owner (physical) – Only defense is consent – Ex: Food Lion, went past where public is let in, weird meats being sold sued for the act of trespass but not the information required10.What is the defense of custom and usage? See Florida Publishing Co. v. Fletcher. -Custom and Usage, Florida one of the few. It is a defense for intrusion and trespass, public officials gave you implied consent – Firefighter letting photographer follow him11. What are the elements of a false light tort? See Cantrell v. Forest City Publishing Co. – Person Not identified – Portrayed in a false light – Harmed – Distortion: deleting elements, fictionalization: adding new elemen ts12. When must a plaintiff prove â€Å"actual malice† in a false light case? See Time, Inc. v. Hill. – Involved in a newsworthy13.What are the defenses for a false light case? What’s happening in Florida? Remember the Anderson case from our class discussion. – Truth, individual was not identified, privileged source, actual malice proof required by plaintiff, consent, not offensive to a reasonable person – Florida does not recognize false light only defamation14. What are the elements of appropriation? What’s happening in Florida? One who appropriates to his/her own use or benefit the name or likeness of another is subject to liability to the other for invasion of privacy.Unauthorized commercial use of another's name or likeness.Protects a person’s property rightRight of publicity – Advertisements – Look Alikes and Sound AlikesDefenses – Newsworthiness? Zacchini v. Scripps? Howard Broadcasting Co. – Consent In Florida:Lawsuit over â€Å"Perfect Storm† filed by family members of William Tyne, captain of the Andrea Gail.Florida Supreme Court rules in favor of Warner Brothers.Florida Statute 540. 08 prevents the use of a person’s name or likeness to directly promote a product or service. Does not apply to publications, including motion pictures, which do not promote a product or service.15.What are your defenses if you get sued for appropriation? See Zacchini v. Scripps-Howard – Newsworthiness – Consent – Individual not identified – The First Amendment16. What are the elements for an emotional distress lawsuit? †¢ [pic]Conduct that atrocious and utterly intolerable in civilized community, outrageous conduct by the media is thought to cause extreme anxiety (usually unsuccessful)17. What’s the difference between private figures and public official/figures suing for intentional infliction of emotional distress? See Hustler Magazine v. Fa lwell – Public figures have to prove actual malice18. What is participant monitoring? What is the law in Florida? How is this different from the federal law? – law permits one party to a conversation to record or transmit a conversation without telling the other party, law is less tolerant of third party members recording conversations than – must have consent – federal law and most states permit participant monitoring if not conducted for criminal purposes 19. Do reporters trespass when they misrepresent themselves to acquire information from public businesses? – FL no because of custom and usage, other states might be different20. When is the media responsible for physical harm, which results from incitement, negligence or lack of duty not to publish material due to foreseeable harm? – Only held liable for foreseeable harm and incitement (when programs or stories appear to cause physical harm- Bradenburg v. Ohio-Hitman Manual Chapter 7 â⠂¬â€œ Political Speech21. How do the speech rights of corporations differ from individuals? Do corporations have First Amendment rights to free speech? When can these rights be limited or restricted? See First National Bank of Boston v. Belotti and Pacific Gas & Electric v. Public Utilities Comm. – Corporations can be required to testify against themselves and have no right of privacy – Provide commercial information to consumers – Allowed to lobby government – Not required to carry messages they oppose22. What are the rules about corporations/individuals contributing to political campaigns? How did these change after Citizens United v. FEC? – Corporations can give unregulated expenditures to promote a candidate. They cannot give contributions because it is direct to the campaign.23. Are governmental regulations on corporate speech constitutional? See Buckley v. Valeo. Yes24. What is the Bipartisan Campaign Reform Act? The Bipartisan Campaign Refor m Act of 2002 (BCRA) includes several provisions designed to end the use of nonfederal, or â€Å"soft money† (money raised outside the limits and prohibitions of federal campaign finance law) for activity affecting federal elections. These include: †¢ Prohibiting national parties from raising or spending nonfederal funds †¢ Requiring state, district and local party committees to fund certain â€Å"federal election activities† with federal funds (i. e. ard money) and, in some cases, with money raised according to new limitations, prohibitions, and reporting requirements (i. e. Levin funds), or with a combination of such funds. †¢ Limiting fundraising by federal and nonfederal candidates and officeholders on behalf of party committees, other candidates, and nonprofit organizations. Campaign reform act 1974 defined what corporate expenditures were and placed limitations on them. Bipartisan Campaign Reform Act put even more limiations on corporate expenditur es and when they could use money to pay for ads and limited whther they25.What is a PAC? -Political Action Committee26. What are the differences between expenditures and contributions, and why are these distinctions significant? – Contributions are gifts of money or services given directly to a candidate or campaign committee. The Supreme Court in Buckley, felt that limiting contributions helps prevent quid pro quo – Expenditures is money spent independently of candidates to advocate a company's position. This speech is considered â€Å"pure speech† and therefore is not restricted and limits on them are a direct restraint on political speech27. What are â€Å"electioneering† communications?28. What is express advocacy? – Express advocacy is directly promoting a candidate by using buzz words such as â€Å"Vote for__† or â€Å"Elect __†29. What provisions of the BCRA were upheld as constitutional by the U. S. Supreme Court in its Citize ns United v. FEC decision? – Preventing corporate and federal campaigns from making contributions directly to candidates was upheld as constitutional 10. What are the concerns raised by the Citizens United holding? What are the benefits of this decision? Concerns include â€Å"quid pro quo† or the idea that donating or supporting a candidate will require that candidate to help the supporter in the future. Dollars in exchange for votes – Instead of giving money to candidate, spending money on candidate Chapter 8 – Commercial Speech 1. How did the First Amendment protections for commercial speech evolve? See Valentine v. Chrestensen and New York Times v. Sullivan. – In Valentine v. Chrestensen, the supreme court ruled that commercial speech/advertisement feel outside of first amendment protected speech.The Valentine ruling was known as the â€Å"Commercial Speech Doctrine† In NYT v. Sullivan, the Supreme court said political advertisements, ev en if purchased, were still protected speech 2. What is the extent of First Amendment protection for commercial speech? Virginia State Board of Pharmacy v. Virginia Citizens Consumer Council. The First Amendment protects 3. What â€Å"test† does a judge use in determining whether a regulation of advertising is an unconstitutional regulation because it violates the First Amendment? – The Four Part Test was created by Hudson Gas v.Public Service Commission – Is the speech commercial expression eligible for first amendment protection – Does the government have a substantial interest in regulating the expression – Does the regulation directly advance the governmental interest – Is the regulation narrow 4. Does the First Amendment protect false advertising? No 5. When are regulations (also known as â€Å"prior restraint†) permissible when it comes to advertising? What are some other differences between commercial and political speech? 6. W hat is the Central Hudson test and when is it used? The central Hudson test is the narrowly tailored requirement of the Four Part test. It is used to ensure that regulations on speech are the least restrictive possible. 7. What is the FTC? What does it regulate? Where does its authority come from? What powers does it have? – The Federal Trade Commission which operates and receives authority from the Federal Trade Commision Act of 1914. Its primary mission is to protect consumers from unfair or deceptive market practices and to promote competition. It has the power to hold investigations, require advertisers to verify the accuracy of advertising claims. 8. What is an unfair practice? Unfair practice, as described by Congress, is one that causes or is likely to cause substantial injury to consumers which is not reasonably avoidable by consumers themselves and not outweighed by countervailing benefits to consumers or competition. This is more likely to occur in customer treatmen t than advertisements 9. What is a deceptive ad – The FTC defines deceptive as one that is likely to mislead a reasonable consumer with a material statement or omission. Advertisements don’t necessarily have to deceive someone to be deceptive, they just must have a â€Å"tendency† â€Å"capacity† or be â€Å"likely† to mislead 0. What are express and implied falsehoods? – Express falsehoods are ones that that make a direct representation using the direct meanings of words. They directly state something that is untrue, such as â€Å"caffeine free† coffee that contains caffeine. Implied falsehoods are statements of omission in advertisements that create a false impression 11. What authorities can regulate advertising? – States can enact legislation that prohibits unfair acts or deceptive advertising. Federal government can regulate advertising 12. What is the FTC’s complaint process? Citizens or competitors can make compla ints.Citizens cannot sue through federal courts. Can only complain to FTC and hope the FTC takes action. 13. What is the Lanham Act and when is it used? – The Lanaham Act prevents people from advertising false or misleading information 14. What is RICO and when is it useful to stop misleading or deceptive advertising? – RICO is the Racketeering Influenced and Corrupt Organizations Act which curbed organized crime's infiltration of businesses, preventing uses of interstate enterprise, and fraudulent use of telephones or mail to promote illegal practices 15. What’s happening with personal data collection?Websites, businesses, social media, like Facebook? – Personal data is being used for idenity theft 15. When are corporations required to report financial information? See SEC v. Texas Gulf Sulphur Co. 16. What is the SEC? Where does it get its authority? What does it have authority over? – The SEC is the Securities and Exchanges Commision and it has authority over publicly traded corporations in the New York Stock Exchange, and the availability to the public of its information 17. What is Rule 10(b)? What does it prohibit? How does it define fraud? See SEC v. Texas Gulf Sulphur Co. Rule 10b-5 prevents insider trading, or making decisions to sell or buy stock based on information that is not available to the public 18. What is â€Å"insider trading† and what are the penalties for insider trading? See SEC v. Texas Gulf Sulphur Co. – Insider training is buying or selling securities based on nonpublic corporate information 19. What does â€Å"tipping,† â€Å"tipper† and â€Å"tippee† mean? See SEC v. Texas Gulf Sulphur Co. – Tipping- passing non public material onto friends or brokers so they can trade – Tipper- A person who passes on the nonpublic material Tippee: a person who receives an insider tip and makes a securities trade based on the information Important Cases: Chap. 5-Priv acy Cox Broadcasting Corp. v. Cohn Court established nearly complete First Amendment protection for the media to report information from official records available in open court when a Georgia father couldn't bring a privacy suit against a TV station for naming his daughter violating a Georgia statute (broadcast of a rape victim a misdemeanor) Supreme Court said â€Å"the First Amendment does not permit a privacy suit against the media for disseminating private information contained in public records† Florida Star v.BJF. Court said the First Amendment protects publication of lawfully acquired truthful information about a matter of public importance unless prohibiting publication will further a state interest â€Å"of highest order† -weighed individually, after Court reversed a judgment of Jacksonville newspaper publishing the full name of BJF rape victim, Florida Star acquired it from a gov. news release. S. Court reversed because it was a violent crime of paramount im portance Florida v.Globe Communications, Inc. Florida law was unconstitutional â€Å"that it was unconstitutional to publish the name of a victim of a sexual offense† because it was overly broad Cape Publishing, Inc. v. Bridges public exposure in an event involving a suicide, threatened murder, and police was of legitimate public interest, the court said, just as other crimes, arrests, police raids, accidents, and fires are of public interest Dietemann v. Time, Inc.US Court of Appeals ruled Dietman, a quack doctor, could collect damages from Time, Inc. for invasion of his privacy by two Life magazine employees who secretly photographed the doctor at his house as he waved a wand over bottles of body tissue and rubbed what he said was the cancerous breast of the other journalist, transmitter in journalist's purse went to a police car, awarded Dietman because it was in a private place Hustler Magazine v. FalwellFalwell sued for libel, invasion of privacy, and intentional inflict ion of emotional distress. Supreme Court reversed because an outrageous standard of liability is constitutional because it is too subjective and would punish the publishers’ motives, ad did not contain actual facts, or actual events therefore it was so outrageous it could be true, lost defamation, won emotional distress in court of appeals, then supreme court reversed it. Zacchini v. Scripps Howard Broadcasting Co.Supreme Court ruled that the First Amendment did not bar a human cannonball from pursuing a publicity suit under Ohio law against a television station that broadcast his entire act during a news program, Supreme Court called it â€Å"professional property† media lost Cantrell v. Forest City Publishing Co. Margret Cantrell sued for invasion of privacy because she was in false light due to a story by a reporter's deliberate falsifications that implied she was interviewed, claiming he had an interview with her, Supreme Court ruled there was NYT actual malice whe n the reporter falsified the information Fla. Publishing Co. v. Fletcher tate supreme court ruled that a Florida Times Union photographer didn't trespass when he accompanied firefighters into a private home after a major fire that killed a 17-yr old, Cindy Fletcher and published a picture of her body outline, but Court said the photographer was invited in by fire officials so there was an implied consent—legal influence is limited to Florida cases involving catastrophes Time, Inc. v. Hill family sued saying they had been portrayed in false light during a play that was recreated of their hostage situation, won lower court, Supreme Court said if it's a newsworthy issue must prove actual malice Anderson v.Pensacola News Journal (class discussion) Anderson was a political figure, him and wife going through divorce and went on a hunting trip, accidentally killed her. Portrayed in false light by the newspaper made him look like murder, won in lower courts, Florida supreme court doe s not recognize false light â€Å"it duplicates existing torts without the attendant protections of the first amendment, instead they do defamation† can't claim false light in Florida. Braun v.Soldier of Fortune Soldier of Fortune negligently published an advertisement that resulted in the death of Richard Braun, killer hired after he placed an ad â€Å"Gun for Hire† Court ruled that Fortune violated a public duty not to publish a clearly identifiable unreasonable risk of harm, ruling did not violate first amendment because publisher did not check danger and legality of advertisement-foreseeable harms? media responsible Chap. 7 – Political Speech Buckley v.Valeo Court said the concept that government may restrict the speech of some elements of our society in order to enhance the relative voice of others is wholly foreign to the First Amendment† upheld the federal law that sets limits on campaign contributions but ruled that spending money to influence elec tions is a form of constitutionally protected free speech, made distinction on contribution limits from expenditure limits, BUT part of the law was struck down.First National Bank of Boston v. Belotti bank wanted to buy ads opposing an income tax, law said that they couldn't publish it because it hadn't nothing to with the bank's business, Supreme Court created an almost unlimited First Amendment freedom for non-media corporations to spend money to support social issues—founded on the right of citizens to receive political speech by corporations Pacific Gas & Electric v. Public Utilities Comm.Supreme Court ruled that Pacific Gas could not be forced to include a newsletter from a consumer group in the company's billing envelope, unconstitutional for the commission to force them to publish messages they don't agree with Citizens United v. FEC overturned 100 years of laws and regulations, rejected quid pro quo (corruption) the distortion (level playing field-wealthy skewing mark etplace of ideas) case based on Hilary movie made by non-profit Citizens United, filed an injunction to stop Election Committee from applying BCRA, injuction denied, Supreme Court overturned sayingChap. 8 – Commercial Speech Valentine v. Chrestensen passing out handbills, statute in NY prohibiting passing out handbills , city arrested him, Supreme Court ruled NY could stop distribution because it was purely commercial advertising that fell outside first amendment protection, 1976 Virginia Pharmacy established protection for purely commercial advertisers Virginia State Board of Pharmacy v.Virginia Citizens Consumer Council law against publishing prices, citizens have first amendment right to receive and publish information Central Hudson Gas & Electric v. Public Service Court upheld utility's right to promote the use of electricity Kasky v. Nike Nike accused of sweatshops, sent out a press release, sued, Nike lost because they sent out misleading information not protected by t he First Amendment SEC v. Texas Gulf Sulphur Co. ompany issued press release to damper fears about large copper deposits, 12 days later hit huge deposit, insiders bought and sold stock Exam Review Know implied falsehood vs expressed falsehood. Expressed-written or said Implied-the ad itself implies that the product can do something it really can’t do. When can RICO be applied? When there is overwhelming corruption. People are being swindled In Florida no false lighthood because it’s so similar to defamation. False light DOES NOT exist.

Thursday, January 9, 2020

An Overview of Graphic Memoirs and Graphic Nonfiction

Although the term â€Å"graphic novel† is broadly used, the term â€Å"graphic memoir† is relatively new and has not had wide usage. Hearing the phrase â€Å"graphic memoir† is partially self-explanatory in that a memoir is an author’s account of personal experiences.   However, when you consider the word â€Å"graphic,† you may not think of â€Å"graphic novel,† -- your mind may think instead in terms of those movie ratings that warn of  Ã¢â‚¬Å"graphic violence or â€Å"graphic sex scenes.†Ã‚  Ã‚  It may be confusing to understand how a â€Å"graphic memoir† could be for children. What Graphic Memoir Means However, there are other definitions for â€Å"graphic,† including â€Å"of or relating to the pictorial arts† (pictorial: â€Å"having or using pictures†)  that better describe what the term â€Å"graphic† means in the context of â€Å"graphic memoir.†Ã‚   If you are familiar with graphic novels and comic books, you know they use panels of sequential art with the text generally embedded as dialogue or just under the panel as a description.  One of the easiest ways to describe a graphic memoir is to say it is a memoir written and illustrated using the same general format found in a graphic novel. In short, both the words and the pictures are crucial to telling the story. Another term that publishers are using more frequently  to describe nonfiction books that use a graphic novel format is â€Å"graphic nonfiction.† A graphic memoir would be considered a subcategory of graphic nonfiction. Good Examples of Graphic Memoirs There are much more graphic novels, such as Rapunzel’s Revenge, for kids than there are graphic memoirs.  One excellent graphic memoir for middle-grade readers (ages 9 to 12) is Little White Duck: A Childhood in China, written by Na Liu and illustrated by Andres’ Vera Martinez. The combination of words and pictures tends to make graphic memoirs appealing to even reluctant readers and this book is particularly well done. To learn more, read the book review of Little White Duck: A Childhood in China.   One of the most well-known graphic memoirs is Persepolis: The Story of a Childhood by Mariane Satrapi. It is on YALSA’s Ultimate Teen Bookshelf, which is a list of â€Å"must-have† teen materials for libraries and includes 50 books. Persepolis tends to be recommended for teens and adults. Another graphic memoir that has received a great deal of positive press and a number of starred reviews is March (Book One) by Congressman John Lewis, Andrew Aydin, and Nate Powell. The publisher, Top Shelf Productions, describes Lewiss memoir as a graphic novel memoir. No Standard Terms Yet Since there is, as of the beginning of 2014, no widely accepted term to describe nonfiction that combines words and pictures like graphic novels do, and even fewer memoirs that do so, it can be quite confusing. Some sites still refer to such books as â€Å"nonfiction graphic novels,† which is an oxymoron since a novel is fictional. Tween City, a site for librarians, has an excellent list of graphic nonfiction for tweens under the heading â€Å"Nonfiction Graphic Novels.†Ã‚  So, what does this mean for readers? At least for now, if you are looking for graphic nonfiction or graphic memoirs, you may need to use a variety of search terms, but it is becoming easier to find titles within the genre. Sources: Merriam-Webster, dictionary.com

Wednesday, January 1, 2020

Business Enterprise And Its Internal Environment - 2248 Words

Individual Assignment Title: Know a Leading Business Enterprise and its internal Environment Company: Deere Company Section C Shruti Chaudhari Roll Number: PGP30129 Declaration: â€Å"I, Shruti Chaudhari do hereby declare that the report is my individual effort and that no part of the report is copied from published/unpublished sources without proper citation†. Table of Contents Executive Summary 3 About the company: Deere Company 4 I. Vision and Mission 4 II. Value System 5 Policies Code of Ethics III. Management Structure and nature 6 Division Structure Advantage Disadvantage Global Operating model: Platform Services Organization Structure Quality of Board members†¦show more content†¦It has a division organization structure in each industry that it operates viz. agriculture, construction, forestry, turf care, parts, power system, and financial services. Due to its expansion policy, it follows a global operating model wherein it has a global platform service organization structure at the broad level. This report discusses the advantages and disadvantages of the management structure, quality of the board members and the shareholder pattern followed by the organization. The human resource, which is the key element in the fast paced progress of the organization, suggest care and nurture of all the stakeholder viz. employees, suppliers, dealers, and business partners. The Company has a long standing in the industry and hence has a strong brand recognition that suggests reliability, approachability and efficiency in its products and services. The report analyses its value chain and uses Michael Porters five forces to understand its standing in the farm economy as well as in other heavy machinery industry. Finally, the Company has performed well even during recession in the past and current declining farm economy. Although it shows a fall in its net revenue, there has been considerable investment in the past year. Overall, it has impacted the farm economy and aided in the industrialization of many developing countries world over. About the company: Deere Company Deere and

Tuesday, December 24, 2019

The Adolescent Crisis of The Catcher in the Rye Essays

The Adolescent Crisis of The Catcher in the Rye Salinger’s The Catcher in the Rye is valid, realistic, representation of the adolescent world. The book is about adolescent crisis. The main character, Holden, runs away from his expensive school because he is an academic failure and finds intolerable the company of so many phoneys. Holden is a rangy sixteen year old who has grown too fast. Girls are on his mind. Whenever girls do something pretty, even if theyre ugly or stupid, you fall half in love with them. Sex is something I really dont understand too hot. You never know where the hell you are. I keep making up these sex rules for myself, and then I break them right away. Last year I made up a rule that I was†¦show more content†¦Yet, Holdens own sex drive is very much alive; it is part of the irresistible thrust toward adulthood. He does not want to deny it; in this respect he wants to be grown up. The action of the novel is centered around the athlete Stradlater, who is a very sexy bastard, and who has borrowed Holdens jacket and girl. When he returns from the date Holden provokes him into a fight. Get your dirty stinking moron knees off my chest, says Caulfield to Stradlater. Youre a stupid dirty sonuvabitch of a moron. After the fight he goes next door to Ackleys room for companionship. That guy had everything wrong with him; sinus trouble, pimples, lousy teeth, halitosis, crumby fingernails. You had to feel a little sorry for the crazy sonuvabitch. But he can find no comfort or solace in the room which stinks of dirty socks. I felt so lonesome, all of a sudden, I almost wished I was dead.4 It is, however, the imminently dangerous quality of sex that is frightening. When Holden asks his roommate if he had sex, Thats a professional secret, buddy. When Holden recalls for this sexy bastard how he had met Jane and goes on to say that he used to play checkers with her. Stradlaters contemptuous comment is Checkers, for Chrissake! This girl, who had had a lousy childhood with a booze hound for a stepfather running around the goddamn house naked, always kept her kings in the back row.5 The symbolism of thisShow MoreRelatedAn Analysis of J.D. Salinger’s The Catcher in the Rye1223 Words   |  5 PagesIn J.D. Salinger’s The Catcher in the Rye, Holden Caulfield is portrayed as a young, troubled individual. He tells us his story from the mental institution where he is currently residing. Holden is a 16 year old going through many different adolescent changes. He is expelled from his prep school for flunking too many subjects. He drinks, smokes, sees a prostitute, is punched by her pimp, goes on dates, spends a great deal of time in the park, and really does not do a great deal else. HoldenRead MoreThe Importance of Censoring in The Catcher in the Rye by J.D. 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The paper seeks to take issue with the wider dimensions attached to the ‘incapacitation and debilitation’Read MoreThe Catcher in the Rye: Holden Caulfields Mental Breakdown1384 Words   |  6 PagesJ.D. Salinger s The Catcher in the Rye portrays a troubled teen in New York City. Over the few days the novel depicts, the boy displays his critical and unhealthy mindset. Eventually he has a mental breakdown. Through psychoanalysis of Holden Caulfield, one may suggest that Allie s death, social development, and an identity crisis are large contributing factors in Holden s mental breakdown. Allie Caulfield is an important person to Holden and his death affects him greatly. In response to hisRead More Catcher in the Rye Essay: Themes of Society and Growing Up1366 Words   |  6 PagesThemes of Society and Growing Up in The Catcher in the Rye      Ã‚   In reading J.D. Salingers novel, The Catcher in the Rye, one is compelled to have a very strong reaction to the contents of the book.   Whether that reaction is negative or positive, it is unquestionable that the reader will give the novel a second thought after reading it.   There could be many reasons why this novel has such an impact on the readers.   It may be the use of Salingers catchy slang phrases, bitingly sarcastic andRead MoreGrief: The Reason Behind Personal Fable and Imaginary Audience988 Words   |  4 Pagestheir life is so bad, that nobody out there in the world could possibly be going through the same pain as they are. They feel watched and judged. These people believe they are unique and rare. Holden Caulfield, a character from the novel, The Catcher in the Rye, and Lindsay Weir, a character from the TV Show, Freaks and Geeks, share similarities with dealing with grief through personal fables and imaginary audience. The definition of personal fable is where someone believes that they are unique inRead MoreThe Catcher in the Rye by JD Salinger: A Review1887 Words   |  8 Pagesï » ¿The Catcher in the Rye Introduction The Catcher in the Rye, a novel by J. D. Salinger, was first published in 1951. The novel deals with the themes of identity, belonging, connection, and alienation. The protagonist, Holden Caulfield, is a cynical sixteen year-old with prematurely gray hair that makes him appear older than his age. Holden is caught at the awkward age between adolescence and adulthood as he searches for his identity. Set in the 1940s, the story begins with Holden recoveringRead MoreThe Catcher Of The Rye, By F. D. Salinger1795 Words   |  8 Pagesunderwent a tremendous change in structure as well as philosophy. J. D. Salinger’s book The Catcher in the Rye helped contribute to this revolution by highlighting new philosophies in literature. 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Erikson believed that identity emerges from an identity crisis, which is the phase when one attempts to develop a self-image as a unique person by using knowledge from childhood. Based off of Erikson’s work, James Marcia formed the four identity statuses of identity development: identity diffusion, identity foreclosure, identity moratorium, and identity achievement (Oswalt). In J. D. Salinger’s The Catcher in the Rye, the protagonist Holden Caulfield struggles as he attempts to find his

Monday, December 16, 2019

The Quality Gurus Free Essays

The Quality Gurus The six Quality Gurus I have chosen to write about are Dr. Joseph Juran, Dr. W. We will write a custom essay sample on The Quality Gurus or any similar topic only for you Order Now Edwards Deming, Philip Crosby, Dr. Shigeo Shingo, Dr. Genichi Taguchi and Dr. Kaora Ishikawa. All of these people have made significant contributions to improving businesses, healthcare organizations, governments and countless other organizations. A guru is a good, wise person and a teacher above all else. This is coupled with these people with an approach to quality in business and life that has made a major and lasting effect on the way people of all types of businesses run their organizations. Dr. Joseph Juran Joseph Juran was born in Romania in 1904 but he moved to America when he was 8 years old. From the beginning of his career Juran worked in the quality profession. In 1951 he published his most recognised book â€Å"Juran’s Quality Control Handbook†. In 1952 he was invited to Japan to give some top level executive seminars which had a powerful and long lasting effect on Japanese businesses. Juran specialised in managing for quality. One of Juran’s main philosophies was his famous â€Å"Quality Trilogy†. This trilogy is composed of three managerial processes; planning, control and improvement. Quality planning is composed of establishing quality goals, identifying the customer, determining the customer’s needs, developing processes that are able to produce products that respond to customer’s needs, establishing process controls and transferring them to the operating forces. Quality control consists of evaluating actual quality performance, comparing this to performance goals, and trying to resolve the differences. Quality improvement encompasses establishing the infrastructure needed quality improvement, identifying the improvement projects, establishing a project team and providing the team with the resources training and motivation needed to implement the improvements. Joseph Juran came up with the ten steps to quality improvement 1)Build awareness of the need to improve 2)Set goals for that improvement 3)Create plans to reach the goals 4)Provide training 5)Conduct projects to solve problems )Report on progress 7)Give recognition for success 8)Communicate results 9)Keep score 10)Maintain momentum Juran has a practical approach to quality. His goal is to reduce the cost of quality. He identifies four costs associated with quality. These are internal costs (defects found before shipping), external costs (defects found after shipping), appraisal costs (inspection, compliance auditing and investigations) and prevention costs (stopping defects occurring in the first place). Juran believes that management should reduce these internal and external defect costs to the point where costs incurred from extra appraisal and prevention measurses would not be covered by the savings from reduced defects. Juran believes that this will reduce the cost of quality to the minimum without imposing unrealistic goals of zero defects. Dr. W. Edwards Deming W. Edwards Deming was born in America in 1900. He is best remembered for his work in Japan where he taught statistical methods to Japanese management to help them to improve the quality of their products. He is widely regarded as the person who played a major part in revolutionising Japanese quality systems. Deming worked closely with Ford in Japan and his systematic approach to quality brought such huge improvements in quality that soon Fords that were produced in Japan were in much higher demand than US built Fords, even though they were producing identical products. Deming later went on to be an industry consult throughout the word until his death at the age of 93. Deming believed that management were responsible for over 90% of quality problems and so he placed great importance on management. He came up with the 7 deadly diseases which he believed significantly contributed to a lack of quality. These â€Å"diseases† were short term planning promoting fear in the workplace, overly focusing on profits and figures, and excessive costs. To counter act these 7 diseases Deming developed the 14 points for managing which has since been studied and followed the world over. 1)To create a consistency of purpose towards improvement. 2)Learn and adopt the new philosophy. 3)Design and build in quality so as to cease dependence on inspection. 4)Minimise costs through better quality. )Continuously improve production systems through management. 6)More on the training for employees will decrease defects. 7)Show management and supervisors to be leaders. 8)Reduce levels of fear amongst employees so that everyone can contribute effectively. 9)Encourage cooperation and communication between different ares. 10)Eliminate slogans that are based solely at the workforce and targets that ask for unrealistic levels of defects and productivity. 11)Increase supervisors focus to quality rather than quantity. Foster greater employee pride in their work. 2)Get rid of barriers that don’t foster management pride in the workplace. 13)Bring in programmes for self improvement. 14)Get everybody in the organisation to work from top to bottom to accomplish the transformation. Deming developed the Deming Cycle or the PDCA(plan, do, check, act,) cycle. This is a systematic approach to problem solving with the idea being to constantly improve. The cycle is about learning what works and what doesn’t work and then repeating the cycle all over again. This also encourages improvements in small increments which gives employees time in accept it and support it. Demings approach to quality was very customer focused. Anything that does not add value for the customer is not a quality feature. Deming sees everyone involved in building the product as a supplier, a process and a customer. Perhaps his greatest contribution was to show the importance of culture and employee attitudes when trying to create a quality based organisation. Dr. Shigeo Shingo Shigeo Shingo was born in Japan in 1909. He qualified as an industrial engineer and went on to become one the leading experts on improving manufacturing processes. He is best known for his work with Toyota where he developed his just- in- time (JIT) manufacturing methods. He was the inventor of the single minute exchange of die (SMED) system which drastically reduced set up times. He is perhaps best known for inventing the Poka-Yoke system (Mistake proofing system). In poka-yoke Shingo makes the distinction between errors and defects. Poka-yoke tries to stop errors becoming defects. In poka-yoke process are stopped as soon as errors occur. The source of the error is then identified and steps are put in place so that the error does not happen again. With this mistake proofing system Shingo strives to reach zero quality control where mistakes are eliminated completely. Poka-yoke also introduces check lists as Shingo believes that it is inevitable that humans will forget things and make mistakes. Shingo’s single minute exchange of die is a process that allows quick changeover between products. This allows a huge reduction in set up times which allows for production of small batches of products with very little disruption. Shingo’s JIT production keeps companies inventory levels low by only producing what the customer wants when they want it. This greatly helped companies to reduce costs associated with inventories. In my workplace in a medical device company there are signs of Shigeo Shingo’s influence everywhere. Shingo’s poka-yoke system is used on the manufacturing line to prevent errors from reoccurring. Defects are examined at the point of the defect and the source of the defect is determined. Preventative action is then put in place if possible to prevent this same defect occurring again. Check lists are put in place at every point of work to prevent mistakes from occurring. SMED systems are also used widely in my work. Materials, machines and process are kept as similar as possible so as to reduce set up times so that we can produce big or small batches with minimal disruption. Philip Crosby Philip Crosby was born in Florida in 1926. He was the quality control manager at the Martin Company, Florida which is where he initiated his zero defects program. Crosby had an aim to change the attitude of top level management about quality. He made quality more measurable as a cost and in doing so he could show the true expense of doing things wrong. Crosby’s most famous concepts were his â€Å"zero defects† and â€Å"quality is free† concepts. These theories were backed up by Crosby’s Four Absolutes of Quality Management. 1)Quality means conformance to requirements 2)Prevention, rather than appraisal should be the system for achieving quality 3)Zero defects should be the standard of conformance 4)Quality should be measured by the cost of non conformance. These Four Absolutes of Quality Management are supported by Crosby’s 14 steps of quality improvement. These steps are there to show that management is committed to quality. There should be quality improvement teams put in place to determine where problems lie. The cost of quality should be evaluated and awareness of quality should be heightened. Corrective action should be put in place and the situation should be monitored. Encourage individual improvement and get employees more involved in quality feedback. People who actively participate in quality improvement should be recognised. These steps should be continuously enforced to show that quality is never ending. Crosby introduced the â€Å"Crosby Vaccine † as a preventative measure for poor quality for management. It is split into 5 sections which covers TQM. These sections are Integrity, Systems, Communication, Operations and Pride. In my work in the medical device industry I can see the influence of Philip Crosby. The four absolutes of quality management are enforced every day. Conformance to requirements is of the foremost importance on the production line. Steps are enforced to prevent mistakes from happening reather than dealing with them when they happen. There is a policy of zero defects which the company tries to communicate to the employees. As we as all this I can see that the company makes huge efforts to get all employees involved in making suggestions to improve quality throughout the company by introducing schemes such as the â€Å"My Ideas† scheme. Here, employees can submit ideas on how to improve quality and they can be rewarded and acknowledged for their efforts. Dr. Genichi Taguchi Genichi Taguchi was born in Japan in 1924. Taguchi used statistics to improve the quality of manufactured goods. Taguchi emphasises putting the quality back into the design of products before they are manufactured. He believes that products should be robust. Taguchi breaks down design into three phases, system design, parameter design and tolerance design. This allows designers to find the optimum settings to produce a product that can survive manufacturing every time and produce products that always conform to specification. The system design is basically the idea of the design, deciding what you want it to be able to do. The parameter design is where nominal values are defined for parameters so as to minimise variation in manufacturing. The tolerance design shows the effect that the parameters have on the products performance. Taguchi also introduced many different methods for analysing results of experiments such as â€Å"analyses of variance† and â€Å"minute analyses†. Although some of Taguchi’s statistical methods are disputed, he has been very influential in improving manufacturing quality worldwide. Dr. Kaora Ishikawa Kaoru Ishikawa was born in Japan in 1915. He is best known for the cause and effect diagram that is used in the analyses of industrial processes. Ishikawa believes that all employees have a greater role to play and without this we are limiting the potential for improvement. Ishikawa introduced â€Å"quality circles† and had a big emphasis on the †internal customer. † References: http://0-web. ebscohost. com. library. itsligo. ie – A Framework for Comparison, Ghobadian, Abby, Speller, Simon http://www. businessballs. com/dtiresources/quality_management_gurus_theories. pdf -The Original Quality Gurus, DTI. gov. uk http://www. enotes. com/management-encyclopedia/quality-gurus -Encyclopedia of Management, Mildred Golden Pryor http://www. qualitygurus. com http://www. skymark. com -W. Edwards Deming – The Father of Quality Evolution How to cite The Quality Gurus, Papers

Sunday, December 8, 2019

Fashion Capital Companies Bond Management

Question: Describe about the Facts and Report for Fashion Capital Companies Bond Management. Answer: Value of bonds of Capital Fashion Ltd. Value of a bond = C*(1-(1/ (1+i) ^n))/I + F/ (1+i) ^n Where: C = Interest paid on bonds I = required rate of return N = number of years to maturity F = face value Where C = 87.5, I = 6%, N = 12 years, F = $1000 Value of bond = 87.5* (1-(1/(1.06)^12))/0.06 + 1000/ (1.06) ^12 = $1230.5 Value of Preference shares of Agri Credit Ltd. Value of preference share = dividend at end of year 1 / required rate of return = 2.5 / 7% = $35.71 Value of Equity of Southern Cross Electricals Ltd. Value of equity for constant growth = expected dividend / (required rate of return growth rate) Growth rate for Southern Cross Electricals Ltd = (present dividend/past dividend) ^1/n 1 Assuming dividends grow at the same rate as the earnings of the company, we substitute earnings per share for dividend per share Growth rate = (3.06/1.49)^1/5 1 = 15.4% Dividend at end of year 1 = current dividend * growth rate = 1.32 * 1.154 = $1.52 Value of equity = 1.52 / (0.15 0.154) = -$380.8 The values of all investments and their market price are presented below: Investment Market price Value Overvalued/undervalued Bonds $1314 $1230.56 $-83.44 (overvalued) Preference shares $25.5 $35.71 $10.21 (undervalued) Equity shares $36.75 $-380.82 $-417.57 (overvalued) The bonds are selling at a price higher than their intrinsic value. Returns from bonds are in the form of coupon payments and the face value of bond redeemed at maturity. If the bond is selling at a value higher than its value, the bond holder will receive less than the purchase price of the bond and therefore his returns will be low. The bond is overvalued in this case and it is expected that the price of the bond will fall in the future as the market corrects itself. Preference shares have their intrinsic value more than the market price making the shares undervalued. The price of the shares is expected to increase in the future as the market will correct itself. The equity shares have a negative value because the growth rate of the earnings of the company is higher than the required rate of return by the shareholders. Since the value of shares is less than the market price, the shares are overvalued and the price is expected to fall in the future. Based on the above, it is advised that the investor should invest in preference shares as they are undervalued and the price of the share is expected to increase in the future providing higher returns to the investor in the form of capital gains. Trends and prospects of the three industries. Apparel Retail Industry The industry is expected to grow at the rate of 3.3% in the next five years. (IBIS world, 2016). The industry saw slowdown in the previous years due to poor economic conditions which led to decrease in demand, also immense competition in the industry reduced profit margins for the players. However, now with the increasing trend of online selling and improved economic conditions, the demand for retail good is increasing. Also, domestic players are facing competition from international players which has forced them to increase their establishments and product offerings. (Euromonitor, 2016) Financial Services Industry The financial services industry is the highest contributor of income in Australia. The industry is highly regulated and developed. Funds management and superannuation are the major products being offered by the industry and is the most reputed around the world. (FSC, 2014). The industry is expected to grow at a fast rate as a result of many technological innovations prevailing in the industry. Increase in the use of online services for carrying out trading transactions has made the industry quite accessible and easy to operate. (treasury.gov.au, 2016). Australia even exports the financial services and exports contribute to the growth of the industry. (austrade.gov.au, 2016) Electrical Appliance Industry The electrical appliance industry is very competitive. There is huge demand for the appliances in Australia as a result of busy lives of the people. The customers are ready to pay premium prices for highly designed appliances which can make their everyday tasks easy. The industry is expected to continuously grow in the future due to increasing need of appliances and the ease of their availability through online selling. The suppliers are in a constant effort to improve the efficiency of the appliances as the water and electricity rates are on a rise. These highly designed appliances will be in great demand in the future. (Euromonitor, 2016) With a decrease in the growth rate by 3%, the resulting growth rate of Southern Cross Electrical Ltd. will be 12.4%. Dividend at the end of year 1 = 1.32 * 1.124 = $1.48 Value of equity share = 1.48 / (0.15 0.124) = $57.06 Investment Price Value Difference Bond $1314 $1230.56 $-83.44 (overvalued) Preference share $25.5 $35.71 $10.21 (undervalued) Equity share $36.75 $57.06 $20.31(undervalued) We see that both preference shares and equity shares are undervalued. However, the equity shares are more undervalued as compared to preference shares and hence it would be recommended to invest in equity shares rather than preference shares. Required rates of return at which the market price and the value of the investment would be equal, the investor will be indifferent to all the three options. This required rate of return is calculated below: Bond = (C + (F P)/n) / (F+P)/2 = 87.5 + (1000-1314)/12) / (1000+1314)/2 = 5.3% Preference shares = D0 / P0 = 2.5 / 25.5 = 9.8% Equity = D1 / (P + g) = 1.52 / 36.75 + 15.4% = 19.6% At the above required rates of return, the value of investment is equal to its market price and the market is said to be efficient. According to efficient market hypothesis, there are no losers or gainers as investors are equally informed and as such the investments are priced correctly. References IBIS World, (2016), Clothing Retailing in Australia: Market Research Report, retrieved from https://www.ibisworld.com.au/industry/default.aspx?indid=407 Austrade.gov.in, (2016), Financial Services: A Sophisticated Hub for the Asia- Pacific, retrieved from https://www.austrade.gov.au/International/Buy/Australian-industry-capabilities/financial-services Euromonitor, (2016), Apparel and Footwear in Australia, retrieved from, https://www.euromonitor.com/apparel-and-footwear-in-australia/report Euromonitor, (2016), Consumer Appliances in Australia, retrieved from, https://www.euromonitor.com/consumer-appliances-in-australia/report FSC, (2014), Financial Services is Now Australias Largest Industry, Media Release, Sydney, Financial Services Council Treasury.gov.au, (2016), The Strength of Australias Financial Sector, retrieved from, https://fintech.treasury.gov.au/the-strength-of-australias-financial-sector/