Method of finance used by Chow Tai Fook and roles played by HSBC Assignment

Method of finance used by Chow Tai Fook and roles played by HSBC - Assignment Example Gold loans amounted to HK$ 2060.8 million, HK$ 2189.2 million and HK$ 3931.6 million for the financial years 2009, 2010 2011 respectively. Loans or advances from related parties which are due amounted to HK$ 4726.8 million, HK$ 4639.8 million and HK$ 7833.3 million for financial years 2009, 2010 and 2011 respectively. The unsecured bank borrowings of CTF primarily serve the purpose of financing working capital, purchase of materials, etc. CTFE guarantees some of these Honk Kong unsecured bank borrowings. Secured bank borrowings of CTF are totally guaranteed by CTFE and certain assets owned by related companies are held as security of these loans. The bank borrowings carry a variable interest rates ranging from 0.30 % to 1.25% per annum over HIBOR or 90-110 % of the PBOC lending rate benchmark per annum. The figures show that there was a significant increase in bank borrowings in the FY2011, primarily due to increase in inventory because of the expansion efforts of the company. Gold l oans include both secured and unsecured short term gold related facilities provided by major financial institutions of the world. The interest rates of gold loans are quite low ranging from 1.25% to 3.5% per annum. There was a significant increase in gold loans in the FY2011 attributed to the fact of increase in gold inventories and business expansion. Regarding advances from related parties, they are unsecured; carrying no interest charges and is repayable on demand. The related parties include the CTFE group and close family members of a director of the Company and an entity having common director of the Company. Until recently, CTF have made a global offering of 1,050,000,000 shares to raise its... This study will begin with the presentation of Chow Tai Fook Jewellery Group Limited. Chow Tai Fook is a leading brand worldwide engaged in different types of business which include property development, transportation, hotel, casino, jewelry, etc. It is an enterprise based in Hong Kong based. The brand name ‘Chow Tai Fook’ is most common Chinese speaking people. Since its foundation, Chow Tai Fook or CTF is a leader in its market segment and enjoys the top position in market share of PRC, as well as Hong Kong and Macau. CTF possess a very wide range of jewellery products with its main focus on producing high-end luxury jewellery items along with gem-set jewellery, platinum jewellery, watches, etc. The retail network of CTF is quite extensive with its points of sale (POS) of jewellery and watches spread all across PRC, Hong Kong and Macau, thus maximizing its exposure and taking sales to new heights every year. Authenticity and trustworthiness are the two main key aspect s on which the brand of CTF is recognized. CTF uses a vertically integrated model which is quite effective in having a good control over the entire business process. Hong Kong Shanghai Banking Corporation Limited or HSBC is one of the largest banks in the world and provide financial services globally across the world. HSBC is primarily involved in four global businesses. They are: a. Retail Banking and Wealth Management b. Commercial Banking c. Investment Banking and d. Global Private Banking.

Stages Of Purchase Decision Making Process Marketing Essay

Stages Of Purchase Decision Making Process Marketing Essay Introduction Market research helps the organization to bring the data which make sense of the organizational performance. Moreover, the successful marketer has focused on the market research to bring the information which is applied in the marketing activities. Therefore, the organization become becomes stable when the marketing activities are successful (Kumar, 2010).. However, the competitive advantage is increased due to the successful inauguration of the marketing plan. For an example, the Proctor Gamble is operating huge market research to strengthen the marketing activities which brought the larger market share. Through this paper the key concepts of marketing research will be merged with the different marketing activities. 1. Requirement One 1.1 Stages of Purchase Decision Making Process Here the purchase decision making process is directly concerned with the final consumer purchase decision making process and the consumer purchase decision is differs in the particular products to products. For example, the buying behavior of toothpaste is different from i-pod. However, the purchase decision process has five stages which are reflected in the following figure one. http://www.seo.com/wp-content/uploads/2012/01/Consumer-Research-Process1.png Figure One: Purchase Decision Stage, Source: Jeannet and Hennessey, (2011) This figure is suggesting that, consumers go through all of the stages when they need to purchase (Jeannet and Hennessey, 2011). For an example, when a customer need to purchase a Mobile phone, he/she needs to have need awareness, then move to the information search in the mobile market, then make evaluation between alternatives, then make purchase, finally he/she express the post purchase behavior which reflect the positive or negative feedback. 1.2 Theories of Buyer Behavior in Terms of Individual and Market The buying behavior of the consumers differs in the different market and for that reason exper developed different theories of consumer buying behavior. According to Czinkota and Ronkainen, (2012), there are four theories of the buying behavior which is listed in the following. Complex Buying Behavior: In this situation, consumers have higher involvement in the expensive, risky, purchased infrequently, and highly self-expressive product. Dissonance Reducing Buying Behavior: Highly involvement but seeks little difference between brands. Habitual Buying Behavior: Low involvement of consumers but little brand differences. Variety-Seeking Buying Behavior: Have low consumer involvement but brand difference is significance. 1.3 Factors Affecting Buyer Behavior In the modern market, consumers need to make different buying decision in different condition which is affected by the different factors. However, consumer purchase decision is affected by the culture, society, personality, and psychology. This is listed in the following figure. https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjulLooAtGr7DpFkh1sy0tRu2pqhN1yh8VpOyOoSpdlguiyfy023GUrEXDtao7xexyLMYRcOp_KdRDnaj8qoOAho6LW0HRI6LkNvJ76j3rPQFIdRiBww8zJdwwWw7f2fSCCL81pmKfF2Ac/s1600/chart+1.jpg Figure Two: Factors affecting consumer buying behavior. Source: Craig and Douglas, (2009) Cultural: Human behavior is controlled by the culture that is followed by the people and this culture affects purchasing decision. Social: The social structure influences the purchasing behavior of the consumers. Personal: The personal characteristics influence the purchasing decision of the consumers. Psychological: The psychological factors influence the purchasing behavior of consumer like motivation toward purchasing. 1.4 Relationship among Brand Loyalty, Corporate Image, and Repeat Purchasing The brand loyalty, corporate image, and repeat purchasing have strong impact on the competitive advantage of a firm in the highly competitive market. The brand loyalty creates customer loyalty which is resulted the repeat purchasing of the customer Douglas and Craig, (2009). However, the brand loyalty, corporate image, service, price and service quality leads to increase the loyal customer and those loyal customer is the asset of a firm who enhance the brand loyalty and corporate image. The brand loyalty will authentic when the customers have true attitude to make the repeat purchasing. For example, the Pepsi is considered as the true brand loyalties which have the corporate image in the competitive market. 2. Requirement Two 2.1 Types of Market Research Techniques Generally, the market research or the marketing research is designed to collect information to implement in the marketing activities of the firm. Normally, the market research has the two techniques which are listed in the following. Primary Research: The primary research has two ways which is Qualitative and Quantitative research. In qualitative research the research can be designed through the open-ended question and focus groups. However this research technique is used to gather the descriptive information (Dodd, 2008). On the other hand, the quantitative research gathers numerical information to analyze the marketing techniques. The quantitative techniques are done through the surveys. Secondary Research: The secondary research gathers information on the topic which is already published. The secondary research information is gathered from the different institution like trade associations, chamber of commerce, universities, media like newspaper, magazines etc (Dodd, 2008).. 2.2 Source of Secondary Data The secondary data is collected from the different sources which are already published. The secondary research information is already exists. For that reason, the primary data collection is not needed and the secondary information can be gathered from the libraries, public information centre, books, business publication, magazines, newspapers, trade associations, NGOs, banks, real states, insurance companies, wholesalers, manufacturer, regional organsiation, media representatives and many others (Dodd, 2008).. 2.3 Validity and Reliability of Market Research Findings Every research does not require the high level elaboration of study. But, the marketing research needs to conduct the minimum level of study which makes the actual result of the study. The small and informal research background may bring the irrelevant or wrong result (Craig and Douglas, 2009). However, the research validity comes from the data gathering techniques, ethical consideration, and the claims that are done through during the preparation of the research. The research validity may influence greater techniques which mentioned the similarities of other research and opinions. Most of the cases the samples are too small which leads to the poor reliability of the research findings. 2.4 Preparing Marketing Research Plan The marketing research plan is designed to bring the information to implement the current marketing activities. For an example, the market research plan for the Proctor Gamble (PG) has developed to bring out the information of 4.2 billions of customer perception. However, PG has developed the marketing research to justify the brand equity in the market to provide the competitive advantage (Ahmed et al., 2010). For that reason, the company started to cater the consumer to find out the appropriate result and the company has spent tremendous amount of money, effort to bring the innovation. PG knows that, the consumers know about the products which are delivered for the development of the marketing research techniques. PG has successfully handled the market research which brought the appropriate result to determine the marketing result. Now, PG believes that was the only reason why the company is placed in the worlds top one of the brands. 3. Requirement Three 3.1 Market Size Trends within the Market The market size is calculated by the total volume or value of sales in the market and the total volume is calculated through the number of units sold and the amount spent by the customer to have the costs of goods sold. To illustrate this an example of UK book market can be considered, the UK book market is healthy and dynamic market which saw that the market size is upward. In this market, the consumers are the main driver and the publishers need to promote the new writers books rather the old writers (Ahmed et al., 2010). Because, the old writer already captured the market and new writers can expand the market which increase the market size. However, the book market size is also expanding due to non-fiction growth of the products and services which helps to expand the market size. 3.2 Competitor Analysis of Tesco Tesco is the biggest supermarket chain in the UK. The most significant issue is that, the UK supermarket and food retail market is considered as heavily consolidated. In the supermarket chain, the top five supermarket chain has the major market share which is minimum more than five and these companies are Tesco, Asda, Sainsburys, Wm. Morrison, and Somerfield. These five companies have more than 80 percent of the total market share in the UK. However, the competition between these companies is intense and dynamic (Henry, 2011). However, the competition is begins with plan which is set to position in the market, Tesco considers Asda and Wm Morrison low price group who has the strong market influence in the market and Asda is the second largest UKs supermarket chain. Whereas, the Sainsburys and Somerfield are considered as the smaller competitors, which have focus on the higher price. Tesco is the largest supermarket chain and consider all the competitors to set the marketing activities in the market to increase the sales of the product. In the UK supermarket chain, Tesco is holding the 30 percent market share and Asda and Sainsburys has the second and third position which belongs 16 and 17 percent market share respectably (Bagozzi Foxall, 2009). However, the Morrison holding the fourth position which has the 11 percent market shares with the acquisition of the Safeway. The competitor Somerfield has the 6 percent market share for the fifth position. 3.3 Opportunities and Threats for Asda Asda is a second largest supermarket of UKs supermarket chain, which have currently booming position in the supermarket chain. However, the company was taken over by the USAs biggest brand Wal-Mart. Though, it has been taken over by the Wal-Mart, the brand name didnt change and the old brand name successfully promoted by the Wal-Mart which is completely efficient strategic decision (Bagozzi Foxall, 2009). This strategy has brought some opportunities for Asda, as well as threats. This is relevant in all business practice that, the threats is existed in line with the opportunities. So the opportunities and threats need to identify to attempt for the best alternative action in the market. In the following the opportunities and threats is identified (Lewis and Slack, 2003). Opportunities Threats Sufficient Shareholder More brands but lower selling of high brand products. Currently second largest supermarket chain in UK Asda cannot be compared with TESCO(first biggest supermarket chain) Provides best value rather money to the retailer Focus on selling of Asdas product rather the big brand like Nestle, Cadbury, Proctor and Gamble, Unilever. Having high profit margin Less stores compared to the competitors Efficient procurement system Focus on great profit Table: Opportunities and Threats of Asda. 4. Requirement Four 4.1 Techniques to Assess Customer Response The assessment of the customer response is fully depends on the activities of the firms performance in the firms activity sector. Moreover, the techniques of the customer response are highly developed on the assessment and measurement of the financial planning in which the customer survey is considered as the best way to assess the customer response Doyle, P. (2008). Besides, the customer survey, an organization can assess the different yardsticks which are described in the following part of the paper. Productive Performance Indicator: The productivity of the organization will be increased when the customer response is developed. Because, the sales of the product is increased and the demand for the product also increased in line with the sales. Then, a company try to increase the productivity is increased. Then the organization can easily trace the customer responses. Financial Performance: when the customer response is positive the financial performance is upward. Because, the increased sales contribute to increase the profit margin which make the company profitable. The positive performance brings the customer response. Quality Performance: if the organization offers the better products in the market the customer try to take the full responsibility which increases the product sales. The quality performance is able when the continuous selling is running. Response Cycle Time: The customer who intends to response with the product quality then the repeat purchase increase. The sales volume represent whether the customer making the repeat purchase. This indicates the customer response of the organization. 4.2 Customer Satisfaction Survey To assess the customer satisfaction the direct survey is continued which has logical collaboration of the abandon item. But, most of the cases the survey questions do not matched with the customer satisfaction level and the perceived customer value are highly merged with customer experience (Catherine, 2011). Here, the questionnaire for customer survey is as follows. What is your gender? Which range indicates your age? How long the products are used? Which product and services is preferred by the organization to serve you. How frequent the purchasing of the products needs. The rating of the overall satisfaction level to customer level. Will you recommend to your friend and family to buy from this product. The brand attributes need to be argued or not? Rating the companys product. Which logo customer beliefs to make brand relation? How satisfied you overall with the products attributes? Is the firm is able to support your problems? If the product dont be able how the staff are offer to serve recent problems? How efficient the customer service system of the organization. This question is designed with the options which have the logical structure of the satisfied, strongly satisfied, not satisfied, and neutral. This survey result will help to find out the actual result of the survey. 4.3 Review of the Survey The survey questionnaire brings the data of specific problems and weaknesses of the organization. The term customer satisfaction will be measured when the result of the survey report will be submitted. Moreover, the actual results will carry the recent information which is carried by the research objectives (Catherine, 2011). Customer satisfaction will be brought when the result of the survey will be positive. However, the results may positive or negative both is expected. When the result will be positive the company will try to maximize the service components and features. On the other hand, if the result is negative the organization may take action to make the product development with the special feature comparing the competitors. The customer service provides the special features of the recommendation which develop the marketing activities. Training Plan The training session for the 10 mid level manage will be focused on the key procedures of the market research techniques. The market research techniques is designed to develop the authentic collaboration with the different techniques of research, how to bring the actual result, how to response with the negative result. This system will be enhanced when the research is designed to develop the specific actions of the research techniques. The ten midlevel manager will able to carry out the research of the organization. Conclusion In brief, the high level of value adds the high level of the organizations performance. The customer service is designed to provide the actual results which are demonstrated the individual customers (Bagozzi Foxall, 2009). However, the firms need to focus on the after sale service to bring the customer response which bring the brand equity in line with the corporate image. So, the research and development is the necessary part to know whether the customer is satisfied or not. Finally, the satisfied customer bring the huge benefit for the organization in long run with profitability and growth.

Plato and Lockes Views on an Innate Idea Essay -- Philosophy essays

Plato and Locke's Views on an Innate Idea      Ã‚  Ã‚  Ã‚   What is an innate idea?   This can be defined as some idea or mental representation that is produced by outside perception or created anew by our imagination. It exists in the mind in virtue of the nature of the human mind.   According to Plato most if not all of our knowledge is innate. However, John Locke feels that we do not have any innate ideas.   Then the question arises of who is right or are they both wrong.   In this paper I will attempt to examine the conflicting views of Plato and Locke.    The problem that I will be dealing with involves the different views of Locke and Plato.   The main focus of the paper will be to deal with both sides of the view on innate ideas and determine which is plausible. I will be looking particularly at Plato's treatment of the concepts in the Meno and Locke's treatment in certain parts of the essay on human understanding.    It is very hard to determine what if anything the mind possesses.   It could possess everything we will ever know, as Plato seems to think, or the mind could possess nothing.   Both of these views will be discussed in the following paper. Plato's view on knowledge stems from Socrates and his teachings.   Socrates claimed to not know what virtues were or if they existed.   However, he develops a peculiar view of ideas and knowledge acquisition. [Meno 70-100b].   First, I will begin by setting up the background of the Meno.   Socrates has been on a quest to find if anyone knows what virtues are and who has the virtues.   While in the process of this Socrates makes many enemies.   At the beginning of the d... ...the experience at hand.   When we learn from this experience it is engraved on our minds or slates. Locke is a model empiricist.   But I also feel he should compromise on the issue of innate capacities.   This would allow for all the knowledge we gain from experience to be filtered and classified to further our learning.   Therefore, we would have no innate ideas but we would gain our knowledge from experiences.   However, we would have the innate capacities to filter our knowledge. Works Cited Brown, M. (1971). Plato's Meno. New York: The Bobbs-Merrill Company, Inc Chappell, V. (1994). The Cambridge Companion to Locke. New York: Cambridge University Press. Chappell, V. (1998). Locke. New York: Oxford University Press. Cooper, J.M.,(1997). Plato: Complete Works. Indianapolis, IN : Hackett Publishing Company.

Fast Food Restaurants Essay

The blame for obesity is almost always placed on fast food restaurants alone. However, the rise in obesity is contributed by several factors – a change in lifestyle, less exercise, bigger food portions and targeted marketing. To be fair, the presence of fast food industry is fueled by a major change in the lifestyle of today’s generation. The advancement of technology and modern appliances has changed the way we live, harming us in some ways. We drive to work or school instead of walking or cycling. We sit in front of the computer or television for long hours instead of running at the neighborhood with friends. The same goes with our choice in diet. Rather than preparing meals in the kitchen, we would opt for a convenient and time-saving meal at the fast food restaurant (Nutracheck. co. uk, n. d. , para. 9). Eating at fast food restaurants eventually becomes an acceptable trend in the current society even though most people are well aware that fast food is bad for them (Whatscookingamerica. net, 2002, On the Other Hand section, para. 2). This comes down to a matter of choice and individual’s responsibility. For our part, we decide on what we eat and we are responsible for our choice (Nutracheck. co. k, n. d. , para. 10). We are responsible for the choice we made, not the company that provides the food (Whatscookingamerica. net, 2002, On the Other Hand section, para. 2). In a typical family setting, one would discover that both husband and wife are working. Otherwise, they would not be able to afford to buy a house or even fund their children’s higher education. With more women joining the workforce, they no longer have the luxury of shopping for fresh grocery at the local market and preparing healthy meals for the family (Whatscookingamerica. net, 2004, How We Got So Fat section, para. ). In order to feed their families, these women have not much choice left but to opt for buying fast food. This is the easiest, most convenient and most affordable option for most families. The children from these families grew up eating processed food and this would have influenced their eating choices as they become adults. Furthermore, most people are just not getting enough exercise to burn off the extra calories ingested daily (Whatscookingamerica. net, 2004, How We Got So Fat section, para. 7). Thirty minutes of daily vigorous activity is good enough to w ard off heart diseases. However, at least one hour of physical exercise is necessary to burn off the extra calories gained daily (Protraineronline. com, 2011, para. 10). Insufficient exercise coupled with a less physical lifestyle and high-calories diet would only mean that the population grows fatter each day. On the individual level, we are responsible on the amount of calories ingested and burned on a daily basis (Protraineronline. com, 2011, para. 18). If we willingly choose to consume high-caloric fast food yet we do not bother to burn off the extra calories, then we can only have ourselves to blame if we become obese. Having said all that, fast food restaurants deserve to take in a huge part of the blame for obesity. They made unhealthy food so cheaply and readily available to the population (Nutracheck. co. uk, n. d. , para. 3) and yet most of them do not bother to warn their customers of the unhealthy food served (Whatscookingamerica. net, 2002, On One Hand section, para. 3). Most consumers do not know what is being served to them – they are ignorant of the hazardously high sodium, sugar and fat content in the food served. To make matters worse, fast food restaurants are also serving bigger portions compared to a decade ago. The fast food industry is facing a stiff competition. Since it costs just a little bit more to serve a large portion compared to a medium portion, â€Å"supersizing† became a common practice especially for fast food chains like McDonalds, Burger King and Wendy’s (Whatscookingamerica. net, 2004, How We Got So Fat section, para. 5). The burgers served are oversized, fries come in extra-large servings and the soda drinks are bottomless (Whatscookingamerica. net, 2002, para. 2). Then again, even if fast food restaurants offer â€Å"super-size† portions, customers are not forced to double their potion (Nutracheck. o. uk, n. d. , para. 8). They can still opt for the normal size serving. Fast food restaurants are also to be blamed for disseminating wrong messages about diet and nutrition in television advertisement targeted towards children (Nutracheck. co. uk, n. d. , para. 7). In these television advertisements, children are convinced to eat processed food that is really bad for them. Fast food restaurants take advantage of the fact that children are more susceptible to marketing campaigns and they cannot decide on what is best for them to eat since they are not as well informed as adult consumers (Nutracheck. o. uk, n. d. , para. 7). Hence, the fast food industry is clearly the culprit of the growing obesity problem among children. In conclusion, the responsibility of choosing healthy food and getting daily exercises lies in every individual to tackle the obesity problem. Meanwhile, fast food restaurants have to bear the blame of serving unhealthy food to their customers, â€Å"super-sizing† portions to retain loyal customers and making children the target of their sinister television advertisement.

A result Air Asia has to develop

The current business environment is characterized by a considerable level of competitive rivalry and as a result businesses have to constantly reengineer their internal processes in order to develop a sustainable competitive advantage.This is the situation in the airline industry and as a result Air Asia has to develop a sustainable competitive advantage. It is believed that the installation of the e-commerce application will facilitate the implementation of the most important strategy: maximizing access to information.This is one of the most important strengths for the company not only because the company will be in a position to collect more information about its customers, but also because the customers will be able to get more information as well. As a result, this will serve as an advertising tool for the company. In this respect, the company will not be facing any problem because the strategy is being implemented through a joint venture with Microsoft.The airline industry is ch aracterized by a high level of competitive intensity and therefore Air Asia has to constantly reengineer its internal operations in order to build and maintain a competitive edge. In this respect, the strategic focus of the company is cost minimization. According to Michael Porter’s framework for strategy formulation, a business organization has three strategies at its disposal in order to build and maintain a competitive advantage.These are differentiation, cost minimization and focus (cited in Fred, 2006). Although Air Asia might be said to be implementing all three strategies, its focus is on minimizing costs. The company is implementing the strategy of focus by targeting underserved markets while it is implementing the strategy of differentiation by adding value-added services to its repertoire.However the reasoning behind choosing to adopt these strategies has been to locate opportunities for ensuring customer satisfaction through focusing on areas of the market which ha ve not been targeted by competitors. As a result, Air Asia manages to charge lower prices than many of its competitors while maintaining comparable standards of quality.Mobile commerce is an extension of e-commerce according to which computer systems can be accessed through the internet on mobile devices such as PDA, smartphone or a cell phone (cited in Hitt, 2007).Mobil commerce has greater flexibility than e-commerce because it has satellite connectivity. As a result, devices which do not have internet connectivity but which have satellite connectivity can conduct transactions via m-commerce.In this respect, it must be mentioned that m-commerce can conduct video and audio conferencing. Therefore the application of m-commerce leads to greater scope for business-to-business and business-to consumer exchanges. This has become the crucial business model in the current business environment which is characterized by a high level of competitive rivalry.This means that businesses must foc us on the process of cost minimization. This is facilitated through both e-commerce and m-commerce applications as they facilitate the development of B2B and B2C frameworks. However m-commerce is more convenient because of its greater accessibility.Air Asia’s application of Windows Vista can be extended to m-commerce because Microsoft has already developed operating systems for mobile phones. Therefore Microsoft will be in a position to create interoperability between e-commerce and m-commerce through the Air Asia gadget. Although m-commerce is wirelessly connected, it has the flexibility of being connected through e-commerce as well.This means that any solutions developed for e-commerce can be accessible through m-commerce. This will benefit the consumers because they will not have to be connected to the internet once the Windows Vista application is made compatible in the m-commerce platform. In this respect, the costs of conducting e-commerce applications are higher than m -commerce applications.E-commerce requires connectivity via a personal computer. With m-commerce the same amount of information can be processed through a cell phone.Evolution of e-commerce and m-commerceM-commerce is conducted through small hand-held devices. These devices have small screens which might make it difficult for the customers to read the information. At the same time however, these devices are easily carried.Therefore, through m-commerce, the customers can be in greater contact with the source of information. Another great advantage of m-commerce is that they use wireless application protocols. Therefore they do not have connected through wires. This enhances the portability of m-commerce applications. However the problem is that the technology involved in the wireless application protocol has still room for improvement so that connectivity is still limited.This enhances the cost of conducting transactions because the more time that the customer waits for the informati on to arrive, the more costly it is. Therefore money-wise it is still more feasible to use an e-commerce application. However there is no doubt that the issues of user-friendly computing are better addressed through m-commerce.In the case of e-commerce, there is a considerable level of concern with security. These issues are less relevant in m-commerce because of its wireless connectivity.However even satellite services which serve as the platform for m-commerce can be vulnerable to online hackers and therefore mobile phone companies are now investing in this area. However there is no doubt that in m-commerce there is less potential for security issues and as a result this is a more attractive proposition for the customers.The problem is that without additional advancements in e-commerce, m-commerce will not become viable. This is a critical issue to consider because different services such as airlines must focus their resources more on m-commerce than on e-commerce because mobile p hones are more widely used than computers.Therefore any promotional campaigns targeting online business services will gain greater exposure through m-commerce than through e-commerce. The most important contributing factor is that even those consumers who are not comfortable with using computers in conducting online transactions will have used mobile phones for communications purposes.

The Korea Question essays

The Korea Question essays What is national identity? This question may seem to be to simple to even bother answering. The easy answer is that national history is the events in a nations past that, when put together, unify all aspects of life in that nation. From this rough definition it would make sense that all of the nations in the world have a national identity. However, this question is not as black and white as it may seem. Some people believe that a nation whose history is nothing more than occupation by other countries should not be considered an independent nation. This can be seen very well in the case of Korea, which ahs had a history filled with Chinese, Japanese, and western influence. However, though Korea has strong ties to all of these imperialistic powers; it still shows aspects that are uniquely Korean. Korea has a history that includes dominance, subservience, and reemergence. The people of the Korean peninsula have had a very colorful history. Through the period of the Later Bronze Age the Korean peninsula experienced significant political development. Perhaps the most important of these developments was the creation of the walled-town states. The six walled-town states of the Korean peninsula are seen in Chinese records. The most advanced of these states was Chao-hsien. The early leaders of Chao-hsien called themselves tangun wanguom to signify both their descent from the divine creator and their monarchial status . The leaders of Choa-hsien soon realized that in order to maintain power over the peninsula they would need to join with other walled-town states to ward off invaders. By the fourth century BCE the confederated kingdom was created and served as an extended political unit of substantial military power . Shortly after the confederated kingdom was created it was challenged by the powerful Yen faction, a powerful contender from northern China. The Yen people asserted that Chao-hsien was arro...

Barometer Definition and Function (Science)

Barometer Definition and Function (Science) The barometer, thermometer, and anemometer are important meteorology instruments. Learn about the invention of the barometer, how it works, and how its used to forecast weather. Barometer Definition A barometer is a device that measures atmospheric pressure. The word barometer comes from the Greek words for weight and measure. Changes in atmospheric pressure recorded by barometers are most often used in meteorology for forecasting weather. Invention of the Barometer Usually youll see  Evangelista Torricelli credited with inventing the barometer in 1643,  French scientist Renà © Descartes described an experiment to measure atmospheric pressure in 1631 and Italian scientist  Gasparo Berti constructed a water barometer between 1640 and 1643. Bertis barometer consisted of a long tube filled with water and plugged at both ends. He placed the tube upright in a container of water and removed the bottom plug. Water flowed from the tube into the basin, but the tube did not completely empty. While there may be disagreement over who invented the first water barometer, Torricelli is certainly the inventor of the first mercury barometer. Types of Barometers There are several types of mechanical barometer, plus now there are numerous digital barometers. Barometers include: water-based barometers - most often consists of a sealed glass ball that is half-filled with water. The body of the ball connects below the water level to a narrow spout, which rises above the water level and is open to the air. The water level of the spout rises when atmospheric pressure is lower than it was when the glass ball was sealed and drops when air pressure exceeds the pressure when the ball was sealed. While not particularly precise, this is a simple type of barometer easily constructed at home or in a lab.mercury barometers - uses a glass tube that is closed at one end, standing in a mercury-filled reservoir that is open to air. A mercury barometer works on the same principle as the water barometer, but is much easier to read and more sensitive than a water barometer.vacuum pump oil barometers - liquid barometer that uses vacuum pump oil, which has an extremely low vapor pressureaneroid barometers - type of barometer which does not use liquid to measure pressure, instead relying on expansion or contraction of a flexible metal capsule barographs - uses an aneroid barometer to move a pen or needle to make a graph of pressure changesmicroelectromechanical systems (MEMS) barometersstorm glasses  or Goethe barometersmartphone barometers How Barometric Pressure Relates To Weather Barometric pressure is a measure of the weight of the atmosphere pressing down on the Earths surface. High atmospheric pressure means there is a downward force, pressure air down. As air moves down, it warms up, inhibiting the formation of clouds and storms. High pressure typically signifies fair weather, particularly if the barometer registers a lasting high pressure reading. When barometric pressure drops, this means air can rise. As it rises, it cools and is less able to hold moisture. Cloud formation and precipitation becomes favorable. Thus, when a barometer registers a drop in pressure, clear weather may be giving way to clouds. How To Use a Barometer While a single barometric pressure reading wont tell you too much, you can use a barometer to forecast changes in the weather by tracking readings throughout the day and over the course of several days. If the pressure holds steady, weather changes are unlikely. Dramatic changes in pressure are associated with changes in the atmosphere. If pressure suddenly drops, expect storms or precipitation. If pressure rises and stabilizes, youre more likely to see fair weather. Keep a record of barometric pressure and also wind speed and direction to make the most accurate forecasts. In the modern era, few people own storm glasses or large barometers. However, most smart phones are able to record barometric pressure. A variety of free apps are available, if one doesnt come with the device. You can use the app to relate atmospheric pressure to weather or you can track the changes in pressure yourself to practice home forecasting. References Strangeways, Ian.  Measuring the Natural Environment. Cambridge University Press, 2000, p. 92.The Invention of the Barometer, Weather Doctors Weather People and History, retrieved October 6, 2015.

Physical Descriptions Put Readers in Your Place

Physical Descriptions Put Readers in Your Place Physical Descriptions Put Readers in Your Place Physical Descriptions Put Readers in Your Place By Mark Nichol Writers deliver their stories fiction and nonfiction alike to readers more effectively when they use appearances of people, places, and things to help drive the narrative and illuminate personalities. Consider these ideas: People Some writers omit or minimize description of physical characteristics, considering them peripheral details, but revealing details about a person’s appearance can be a valuable narrative tool, especially when the description up-ends expectations. Helping readers picture a diminutive authority figure or a sturdy, six-foot-plus word nerd, for that matter lets them know that the tale isn’t going to be trite. Practice by jotting down notes about people you know or have seen in person or in images, but take care not to write as if you’re filling out a police report. Instead of describing someone as extremely tall, note how they have to duck their head to walk through a doorway. Rather than using a pedestrian word like huge or petite, use formidable or bantam. In describing hair or eye color, avoid â€Å"lustrous raven locks† and â€Å"limpid azure pools of light† phraseology (unless you’re penning a romance novel), and reach for unusual imagery like â€Å"hair like a tangle of copper filaments† or â€Å"milky-green eyes open wide in an attitude of perpetual astonishment.† Places For locations, employ the same strategy: Rehearse your writing by explaining the feel of a room, a street, or a park. Is it expansive, or economical? Friendly, or foreboding? Clean, or chaotic? What do your other senses tell you? What is the noise level? How does it smell? What are the textures like? Is it easy to walk through or along, or to otherwise navigate, or do obstacles interfere? If your story takes place in a natural landscape, describe the terrain and what associations it has based on whether it conjures a sense of grace, harmony, and peace or whether it is full of bleak, harsh, jagged features. How does the presence of vegetation, or bodies of water, contribute to the feel of the terrain? What effect does the weather produce? Place your characters in the context of their locations by showing, without telling, whether they are at home in their setting or whether the environment is alien to them, and how they respond to their feelings. Things Objects may seem devoid of interest, but even everyday devices can resonate and can be integral to a story. The way belongings are displayed and arrayed can say much about the personality of their owner, as can whether they were bought at a dollar store or from an upscale online catalog. Things can exude an aura, or can be imbued with qualitative or quantitative value. The ubiquity of an electronic device can convey how essential it is to its user, or how integral it is to that person’s self-perception because it (to their mind, at least) awards status. A possession can foreshadow an event or otherwise be key to a plot: A tech-dependent person, one who smugly employs a GPS but can’t read a map, is lost in the wilderness without either. An adored stuffed animal conceals a weapon or a treasure. An innocuous object regarded off-handedly but often ultimately becomes the linchpin (or is a MacGuffin). Even in nonfiction, descriptions of objects can be used to great effect. An account of an interview with a powerful person who fidgets with tchotchkes, for example, can reveal them as nervous or insecure without saying so in so many words. 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 Fiction Writing category, check our popular posts, or choose a related post below:20 Types and Forms of HumorThe Parts of a WordWood vs. Wooden

Research Paper about expensive college tuition Example | Topics and Well Written Essays - 750 words

About expensive college tuition - Research Paper Example Recent studies indicate that there are impacts of high tuition fees on enrollment of students to higher education. The most affected students are from the low- and middle-income families. Studies indicate that almost 60 percent of students from low-income families in United States are less likely to enroll in colleges than those from affluent families. Studies carried out in California and Los Angeles established that every increment of tuition fees by $1000 results to a 16% decline in student enrolment (Jackson & Weathersby 631). Therefore, an increase in tuition fees and decrease in student enrolment forms the basis of this paper. This paper will target colleges and students as the primary audiences. In this regard, this paper will discover the relationship between tuition fees and student enrolment in United States by answering the question â€Å"is student enrolment responsive to increment in tuition fees?† An examination of studies carried out in the past five years indicates that the effects of tuition fees increment have been a contagious issue among scholars. Evidence to support the responsiveness of students towards tuition fee prices will be supported through a review of three studies by Jackson and Weathersby (623-652), Heller (624-659) and Leslie and Brinkman (50-65). These studies will be used to support this research because of their broad range of research methodologies, broad student sample and their time variations. Given these distinctions, these articles replicate numerous accepted tenets. These studies hold that higher education is similar to other goods and services in the market and, therefore, the law of demand applies. This implies that an increase in its price will result to a decrease in its demand and thus low student enrolment. Additionally, these studies hold that the tuition price changes have distinct effects on students. For instance, a $2000 increment in tuition fees probably has distinct effects on different

Diet Pills versus Exercise Research Paper Example | Topics and Well Written Essays - 2250 words

Diet Pills versus Exercise - Research Paper Example ResearchDietPills.com (2012) listed the top three diet pills to be # 1 Apidexin, # 2 Phenphedrine, and # 3 7-DFBX. The criteria for ranking was based on safety, effectiveness as fat burner, effectiveness as appetite suppressant, overall effectiveness, value, availability of guarantee, success rate, and the price. Apidexin was reported to be effective because it actually brought about weight loss by increasing the body’s metabolism or the ability to burn calories. It contains an ingredient known as African Mango. The scientific name is Irvingia Gabonensis. Natives of Africa actually used it as medicine before a university discovered its ability to raise metabolism and eventually result in weight loss. Apidexin also contains Cissus Quadrangularis, a substance from one of the grape family members. To help the person using that diet pill, its role is to lower down the level of stress while metabolism is raised. Such an ingredient is also capable of healing broken bones and tissues damaged. Without it, high stress level can trigger the natural storage of excess energy as fat. Another substance found in Apidexin is an herb that will suppress appetite while it also stimulates metabolism. Finally, there is caffeine anhydrous added to facilitate the absorption of multiple ingredients. One testimony (Donna) said that Apidexin can quickly lower the weight by 9 lbs. in 4 days. Another (Linzee) claimed to have lost 25 lbs. in 2 months. A third (Darleen) reported her use of Apidexin for 7 months and lost 58 lbs..These testimonies are available in the website of apidexin.com. Phenphedrine, as the # 2 diet pill, boasts of having the strength of 10,000 chocolate bars. It contains caffeine and malic acid which increase energy level and mental alertness. Chocamine was added. This comes from a Colombian coco plant and serves as antioxidants. Then it also contains Razberri-K, an ingredient meant to prevent the retention of fat. It also prevents weight gain as a result. Ginge r root was likewise included for the protection and even improvement of the heart and gallbladder. Yohimbine, which is an aphrodisiac or stimulant, comes from the so called Indian Snakeroot. So far, all the foregoing ingredients are from natural sources. But chemical components were added as well. These are: Phenylethylamine, known as a love drug, is for the purpose of giving a feeling of satisfaction, contentment, or even pleasure. Evodiamine was included because studies proved that it does burn fat and regulates the temperature of the body. Sclareolide supports the effect of Evodiamine by breaking down body fat. HOPS, the NPY (neuropeptide-Y) inhibitor acts on the brain to relax the body, to relieve pain and stress, and to lower the feeling of anxiety. Because the chemicals are derived from natural sources, advertisements say that Phenphedrine is 100% natural. Only 18 year old people are allowed to take Phenphedrine. Those sensitive to caffeine or stimulants should not take the dr ug. In the list of top 3, this diet pill was least safe and rated only 77% safe while Apidexin has been rated 99% safe. The producers of this drug claim that a person will lose 14 lbs. in 7 days. Their confidence is backed by a money back guarantee if that much weight loss is not attained. What makes it work? First of all, 7-DFBX contains 100% natural antioxidants. There are 35 ingredients on the label of that diet pill product. Its

Option Pricing Essay Example | Topics and Well Written Essays - 3250 words

Option Pricing - Essay Example Options are used by holders for leverage or for protection. The leverage function helps the holder to control the shares bought for a portion what they would have cost. On the other hand, protection measures are adopted when the holder wants to guard against price fluctuations. He enters into a contract with the rights to acquire the stock for a fixed period and specific price. The contracts, in either case, should be highly observed and monitored for efficient outcomes. The methods used in pricing options have been applied for years and can only be effective if the worth of the option is achieved. This is determined by the probability that on the expiration, the option price will be on a substantial amount of money. Any holder of an option expects a gain on his underlying asset to attain the worth of holding for the time given. The Black Scholes and the Binomial method are the elaborated on below in determining the true worth of an option. The Black Scholes Model: This model dates b ack in the twentieth century in its application. It was developed by Fisher Black and Myles Scholes in 1973 hence the name Black Scholes (Marion, 2003, 16). It is still in use today. This model uses the theoretical call price whereby the dividends amounting during the life of the option is not included in the computation.   Theoretically, the price of an option (OP) has been determined by the formulae given below: In this case: (Simon & Benjamin, 2000, 255; Brajendra, 2011, 372) The variables in the above formulae are expressed as shown below: S is the stock price X is the strike price t is the time remaining until the expiration, denoted as percent of a year r is the compounded risk-free interest rate predominant in the current market v is the annual volatility of stock price.   ln is the natural logarithm N(x) is the standard normal cumulative distribution function e is the exponential function Below are the necessary requirements for validating this model: Dividends are not p aid during the stock period. Variance and interest rate does not change in the course of the option contract. There is no discontinuity in the stock price i.e. a shift from one price to another like the case of tenders. This model applies volatility and normal distribution to determine the movement of options. The Excel add-in format can be used to calculate the normal distribution. Volatility, on the other hand, can be implied or historical. The implied volatility of an option allows market traders to observe the current prices of options to determine how volatile they are. This is done by calculating the standard deviation i.e. v2, and in this case, all other variables have to be known. Nevertheless, historical analysis is not left out. The traders have to observe the performance of the option over past years to assess volatility.  

Stamp Act Term Paper Example | Topics and Well Written Essays - 2500 words

Stamp Act - Term Paper Example Today, Americans may have forgotten this important period on their journey to freedom, but the fact remains that without Stamp Act, the American Sons of Liberty and other freedom-fighters may not have gotten an opportunity to launch attacks against their colonist. The British claimed victory in the Seven Years’ War (1756-1763) that was fought against the European powers of those days. It was a typical polarizing war that pitted Great Britain, Prussia and a group of German states (small in size) against nations like Austria, France, Russia, Sweden, and Saxony that formed a staunch military alliance during that period (Morgan et al. 1995, 20-28). However, Britain has spent a lot on this war which seemed to have taken a huge toll on the colonist’s finances. Reportedly, British national debts had doubled by the time the war was concluded (Morgan et al.1995, 21). Apart from this issue, Britain also worried about how to source finances to keep so many soldiers that had fought in the war, many of whom have political links to the parliament. The fears of not wishing to see the soldiers become jobless and not knowing how to fund their continued engagement had forced Britain to come up with a strange method of financial The British Parliament, in 1765 eventually came up with the Stamp Act to source funds to finance the continued existence of its military contingent in North America by imposing taxes on printed materials, which include but not limited to newspapers, legal documents, magazines, and several other papers used in the colonies (Morgan et al. 1995, 80-95). The general acceptance given to this Act by British two arms of Parliament (House of Lords and House of Commons) revealed that Great Britain had seen this Act as the solution to its crippling financial situation at that time (Murrin et al. 2007, 187). The Parliament did not perceive anything wrong in this approach as it deemed it the appropriate way to find the money to solve its

The mechanistic basis of acupuncture Article Example | Topics and Well Written Essays - 2000 words

The mechanistic basis of acupuncture - Article Example It originated in China more than 3,000 years ago. It is commonly practiced as a routine treatment in China, Japan, Korea, and Taiwan. Since 1970s, its popularity has spread world wide (Ernst â€Å"desktop guide†). The procedures in acupuncture involve stimulation of anatomical points called ‘acupuncture points’ on the body with thin needles by a variety of techniques which range from manipulation by hands to electrical stimulation. Acupuncture is effective for relieving dental pain, chronic pain in joints (osteoarthritis), chronic back pain, and recurrent headache. It  reduces nausea and vomiting after surgical procedures and chemotherapy. Cancer patients on chemotherapy and radiotherapy treatment, who develop intolerable pain and nausea, may get relief from acupuncture. It also reduces nausea associated with pregnancy (Kaptchuk 374-383). The puzzle that is hunting the researchers is that how an unmedicated needle, inserted at a site remote from its desired appl ication can produce desired results. A point on the lower leg produces desired effects on the gastric function and a point on the hand cures headache. It is not fully known as to what is the mechanism of action behind these effects. Various theories have been put forward by researchers. The term acupuncture is used to describe a variety of treatments that differ in many important aspects, both theoretical and technical and hence there is difficulty in drawing conclusion from existing literature (Langevin 167-75). According to this theory, both wellness and illness result from an imbalance of yin and yang. ‘Yin’ refers to the feminine aspect of life. It is nourishing, lower, cool, deficient, inside, receptive, protective, soft and yielding. ‘Yang’ refers to the masculine aspect of life. It is considered to be upper, hot, hard, dominant, energetic, dynamic, excessive, outside and creative. Wellness is a result of

An Effective Interpersonal Communication Essay Example | Topics and Well Written Essays - 2250 words

An Effective Interpersonal Communication - Essay Example Another thing which is important in the mean of communication is that the person who is communicating does note carefully if the listener or the person who is being referred to understand the theme of the message. This can be achieved by a two-way process. By two way process here it is meant that the communicator should ask for replies from the person who is being referred to with the message. This would help to assure the communicator that his message is being interpreted properly by the listener. Similarly, if this is not done the message would be misinterpreted and other problems may arise because of this miscommunication (Michael 1988 & Kelly 1979). In a personal relationship, it should be noted that some expressions like nodding, smiling and movement of eyes etc. help as a tool for answering and creating the two-way process of communication. Similarly verbal messages like OK, I understand, true, indeed etc. also support the two-way process of communication. Positivism is one imp ortant aspect of the communication process. By positivism here it is meant that both the negative and positive aspects of the message should be kept in balance so that the person to whom the message is being referred to does not get a wrong concept. If this happens and the negative aspect is given more weigh the person who is being referred to may take it wrong and get discouraged by the other person’s response or assertions (Michael 1988 & Kelly 1979). Communication process has several barriers when dealing with the spouses.... Thus it is necessary that the communicator does not drag his message up to critical levels where the other listener gets confused by the message. This confusion can therefore lead to several other problems in the relationships (Kelly 1979 & Taylor 2001). Dear Sara and Tim, my advice to you for a successful relationship is to maintain a level of understanding and frankness which allows you to speak out ‘clearly’ your innermost feelings and communicate your expectation without hesitation. The expectations from the other partner to understand the unspoken or ambiguously communicated wishes may end up weakening the relationship. The communicator should make it a point that he is direct when communicating. The communicator should not involve irrelevant messages while he communicates as these irrelevant messages can lead to errors in understanding the basic idea or expectation of the other partner.. The misconception about reaching the point in communication is that the commun icator usually thinks that adding up other points may give him an advantage but this rather creates an absurd image in which one can miss out the main points of the original message. So it can be concluded that in communication it is necessary that the main point is laid out firstly so that it is not missed out later on (Michael 1988 & Kelly 1979). It is also necessary for the communicator to make up his speech in such a way that it does not sound cold or harsh. This is because the message would put down the listeners or the person to whom the message is referred to. And this would create other errors at the workplace as well as in the personal relationships. Thus it is necessary for

The mechanistic basis of acupuncture Article Example | Topics and Well Written Essays - 2000 words

The mechanistic basis of acupuncture - Article Example It originated in China more than 3,000 years ago. It is commonly practiced as a routine treatment in China, Japan, Korea, and Taiwan. Since 1970s, its popularity has spread world wide (Ernst â€Å"desktop guide†). The procedures in acupuncture involve stimulation of anatomical points called ‘acupuncture points’ on the body with thin needles by a variety of techniques which range from manipulation by hands to electrical stimulation. Acupuncture is effective for relieving dental pain, chronic pain in joints (osteoarthritis), chronic back pain, and recurrent headache. It  reduces nausea and vomiting after surgical procedures and chemotherapy. Cancer patients on chemotherapy and radiotherapy treatment, who develop intolerable pain and nausea, may get relief from acupuncture. It also reduces nausea associated with pregnancy (Kaptchuk 374-383). The puzzle that is hunting the researchers is that how an unmedicated needle, inserted at a site remote from its desired appl ication can produce desired results. A point on the lower leg produces desired effects on the gastric function and a point on the hand cures headache. It is not fully known as to what is the mechanism of action behind these effects. Various theories have been put forward by researchers. The term acupuncture is used to describe a variety of treatments that differ in many important aspects, both theoretical and technical and hence there is difficulty in drawing conclusion from existing literature (Langevin 167-75). According to this theory, both wellness and illness result from an imbalance of yin and yang. ‘Yin’ refers to the feminine aspect of life. It is nourishing, lower, cool, deficient, inside, receptive, protective, soft and yielding. ‘Yang’ refers to the masculine aspect of life. It is considered to be upper, hot, hard, dominant, energetic, dynamic, excessive, outside and creative. Wellness is a result of

Advanced Corporate Finance Coursework Example | Topics and Well Written Essays - 1000 words

Advanced Corporate Finance - Coursework Example Differential tax treatments are the causes for less than one dividend drop ratios (DDR). Thus, through their research on the relationship between taxes and a firm’s decisions, they articulate that in a rational market, the ex-dividend cutoff should reflect the value of capital gains and dividends to a marginal shareholder. However, when tax enters into the investors’ decisions, the fall in share price in the ex-dividend should show the price of the post value capital gains relative to the post value of dividends. Therefore, because of the influence of tax differential rates, on the capital gains and dividends, the DDR will be less than one because of the fall dividend values due to higher taxation as a result of the effect of personal taxes (Elton, Gruber, & Blake, 2005). Therefore, this impact will influence the firm’s decision in terms of contributions to capital gains and dividends. There are other factors that like tax influences the decisions of a firm to ei ther pay dividends or capital gains. The availability of growth opportunities for investment requires that firms plow back their profits to invest in projects with positive NPVs as illustrated by the signaling hypothesis lieu of paying or increasing their dividend payout, which sends a negative signal to the investors. The stability of earnings is another factor. Firms that have constant earnings are likely to pay out dividends unlike firms with lower or unstable earnings whose dividend payout is likely to result in the decline of growth of their earnings.

Organismic Valuing Process

Organismic Valuing Process One of the most prominent concepts within psychoanalytic therapy is that of transference, as developed by Freud (1912), it is a process whereby the client unconsciously redirects their feelings and attitudes about a person in their past on to the therapist. Freud (1912) understood that these feelings can come in two forms either by the means of positive transferences, in which the therapist is seen in a very positive light or through negative transferences where hostile feelings are portrayed onto the therapist. Freud put much of his emphasis on positive transferences suggesting that it is this transference which is helpful in forming the basis for a useful working alliance, thus signifying that the therapist who is viewed in the most positive light has much more power to cure there client. (Falchi,2009) Freud viewed transference as a defence mechanism he called repetition compulsion, he believed that people will repeat past events or behaviour which was distressing in earlier life i n the here and now, this he believed was how transference is so critical to understanding the repetition compulsion. It is inevitable that developments within psychoanalytic theory have lead to alterations in the meaning and usage of the term transference. Melanie Klein (1952) diverged from Freud and introduced her own psychoanalytic technique, in which she enriched and expanded upon the concept of transference, postulating that the presence of transference within the therapy room was representative of the fears, feelings, and fantasies, associated with former experiences which are reconstructed for the present relationship. (Daniels 2003) Furthermore Klein (1952) proposed that these feelings and attitudes where not necessarily an accurate representation of previous relationships, but only the mixture of actual experiences and unconscious phantasys which the client holds in there inner world, which are constantly processed via projection, re-introjections, and re-projection. For example the father that the person views in there inner world may be very different from the actual father of there past. Transference is now viewed as a process which manifests itself in all relationships whether it be therapeutic, personal or professional, unresolved past issues are defended from reaching consciousness by the process of transference as these feelings are projected into current relationships. The process of transference has been criticised by those such as Jones (2003) as lacking empirical validation and verifiability, nonetheless analysis of the Transference is still viewed as being a fundamental and potent aspect psychoanalytic therapy, which allows the client to experience and express in a very vivid way those unresolved feelings, thoughts and object relations which may have been deeply repressed, by exploring the clients typical interactions using a here and now approach to patient therapy. It allows the therapist into the clients inner world in order to gather understanding of there unconscious processes. Through acknowledging and implementing the process of transference it allows analysts to support there patients in understanding how past events may have shaped there current world as well as disconnecting from issues in their past in order to accept their past as part of their identity without it overshadowing their life and creating problems in the unconscious. As emphasised by Klein (1952), the process of transference is a fundamental aspect within psychoanalytic therapy, because of what it reveals about the clients internal-object world as well as providing opportunities for therapeutic modifications bu modifying the harshness of internalized objects and inner persecutors.. For instance, the client may experience the analyst as the bad object of their past. In such a case it is important that new modes of interpersonal relating are learned, via the analysts ability to provide the client with the necessary counterbalance to the bad objects during the transference, in these conditions early anxieties can be alleviated so therapeutic change can occur. (Daniels, 2003) Providing the correct environment is established, the process of transference can become a very useful analytical tool. For instance, in situations where a child has been neglected or even severely abused by their parents, providing a safe setting for this individual may allow them to project their negative feelings towards their parents onto the therapist. By the therapist being neither abusive nor neglectful in response to the client, and instead providing the client with a stable and accepting relationship in which they are viewed very importantly, it allows the client to come to terms with and express there true feelings towards their parents, which were far to dangerous to articulate in there previous setting. Once these have been expressed the patient is likely to feel much more relieved. It is clear that the concept of transference have significantly contributed to the process of psychoanalysis, if a strong transference relationship is produced which is safe for exploration, then transference becomes an essential analytical tool to discovering the unconscious. Outline Melanie Kleins concept of the paranoid schizoid and depressive position in infant psychic development. To what extent does Kleins theory differ from that of Freud? Psychoanalytic theory has been constantly developed since the times of Freud, One key psychoanalyst who diverged away from Freud was Melanie Klein. (1965). by focusing on human relationships as the principal motivational force in life she deviated from the traditional psychoanalytic focus on pleasure seeking behaviour and aggression as the key drives to successful development. Klein (1952) postulated that it is the development during the very primitive months and years of life which is vital in providing the foundation for the character which will continue throughout. Furthermore Klein (1946) proposes that the earliest stage of infantile psychic development is comprised of the successful completion of two distinctive developmental positions, the paranoid-schizoid and the depressive positions. The paranoid schizoid position was postulated by Klein (1946) as occurring at the earliest phase of development. Klein believed at this primitive stage in development, objects can only be perceived as being all good or all bad, which she believed to be a defence mechanism, known as splitting. It is understood that this mechanism is implemented as a part of the infants inherited predisposition to reduce and to cope with any anxiety that they experience, due to the unpredictable nature of the world around them. Klein focused very much on the mothers breast when introducing the idea of splitting. She suggested that at this stage in development the breast can only be seen as two separate objects wither all good or all bad for the infant. Thus the breast can be introjected into the babies world in two ways either as satisfying its immediate needs this would be viewed as the good breast on the other hand the child is also likely to introject breast as being a bad object if it has an unsati sfying feed. The child can not understand that the breast belongs to a whole object and is not separate. If the ego is developed sufficiently then over time good and bad can be integrated by the infant and ambivalence and conflict can be tolerated. This is a sign of the development into the depressive position. This is the stage where the infant begins to recognise that it is not omnipotent and that the mother is a whole object. As the child realises that it is possible to tolerate ambivalence and thus to recognize whole objects that contain both good and bad aspects, it begins to feel depressed in that there is no longer any all good objects but it also feels guilt about the fantasies of destroying the bad object which they now realise is not separate. The depressive position is never fully resolved, and psychological life is a continuing pursuit of compensation for the harm done. Klein is renowned for her divergence from the traditional psychoanalytic ideas introduced by Freud. One of the main differences is apparent when exploring views on development within the first year of life, especially the development of the ego and the superego. Klein differed from Freud in this respect; she did agree that the psychic contained the ID, ego and the superego. However she argued that all components can to some degree be noted from birth suggesting that the superego is in operation much before the end of the Oedipus complex rather than following it as suggested by Freud (1923). Klein also saw the superego as being quite harsh and cruel within the paranoid schizoid position of development before developing into a more forgiving and helpful one in the depressive position. Freud was highly criticised by Jung as well as other psychoanalysts for his huge emphasis on pleasure and sexual drives in the development of infants this is where Klein diverged from Freuds ideas that humans as purely pleasure seeking individuals and instead focuses on, relationships as central to what it is to be human, as well as key to psychotherapy, especially the relationship with the therapist. Klein seems to shift the focus from biologically predetermined stages of development and instead introduces the role that early phantasys play in the formation of interpersonal relations and the understanding of the world. In Kleins usage, unconscious phantasys underlie all thought and activity, whether that is creative or destructive, phantasys are vital to the expression of internal object relations in the analytic situation. Although Freud did recognize the existence of phantasys within development he did not see them as key to development tending to focus much of his attention inste ad on the unconscious. Describe Rogerss concept of the Organismic Valuing Process (OVP). Evaluate the strengths and weaknesses of this aspect of Person Centred theory. One of the fundamental concepts within humanistic psychology is that of the organismic valuing process (OVP). Rogers (1952) refers to this as the innate tendency to automatically select, pursue and seek those situations which fit into our inherent aspirations, in order to lead a fulfilling life. It is a subconscious and biologically driven process which guides people in evaluating new experiences to maintain or enhance their growth potential and eventually reach actualization. In order for this to be achieved it is important that their values are not fixed, but instead experiences are evaluated in terms of the satisfactions which are innately experienced this process is called the organismic valuing process. From birth, children innately respond to their sensory experiences, they will repeat and value those experiences which generate good feelings for them. However it seems as though it is at this stage where difficulties and incongruences are likely to develop. It is very common at this stage, that judgemental and critical messages can be portrayed towards the infant, this is usually through there parents attempt to implement rules of behaviour, consequently this leads to feelings of incongruence between what the infant is experiencing as good, their organismic valuing process, and how this is viewed by others., This can lead to the child internalising the values and beliefs portrayed by others, a process called conditions of worth, this will shape an individual into someone who is cut off from their own sense of worth and value this can become a vicious cycle as they begin to behave in ways which they feel is expected of them and not to there true organismic feelings, this is believed to prevent all personal growth for the individual. As the individual grows older this valuing process is essential if they are to achieve self actualization, under favourable circumstances it allows the development of an optimum self-esteem and an accurate sense of who the person really is as well as who they would ideally like to become. This gives the individual clear goals which they can work towards in order to reach self actualization. It is inevitably that life is never this simple and everyone faces high demands and responsibilities within there everyday life which can alter what they choose to do, as they feel responsibility for certain jobs and situation which can shift the person away from their organismic valuing process. At first glance the idea of an organismic valuing process, where individuals can rely freely on the evidence of their own senses to make value judgments, seems to be a very appealing and positive outlook. However it is also viewed by those such as Cofer Appley (1964) as a very naÃÆ' ¯ve and overly optimistic interpretation of human nature. It is very questionable that all humans have an innate drive to do good. A lot of criticism towards Rogers approach has centered around its failure to provide insight into the evil side of human nature such as criminals and violent people who do not seem to be functioning in this innately positive way, On the other hand it has been suggested by those such as Myers (2000) that there may in fact be such a skill as an organismic valuing process, when analysing self reports on peoples views of their lives, most people reported feeling happy and very satisfied with their lives, this research suggests that although it may seem, overly optimistic to t hink that people strive for good it also seems as though people are very good at reaching and striving towards a stage where they are very satisfied with there lives. A further criticism of the organismic value processing is that there is inadequate empirical research to support its premises. It is very difficult to define and measure such a subjective concept scientifically, therefore the concept lacks empirical evidence, therefore the theory has to be criticized for not providing substantial evidence for its assumptions. Although it is heavily criticized for its lack of empirical evidence there have been attempts to investigate the organismic valuing process such as by Sheldon et al (2003) by investigating the way in which people change their goal choices over time, to investigate if people tend to change their goals, they found that people tend to move away from those goals which are extrinsic in nature and move towards intrinsic goals suggesting that there is such a thing as OVP. They concluded that people may have a positive bias toward changing their minds in directions most likely to be SWB enhancing List three behavioural interventions that might be used in cognitive-behavioural therapy, explain the theoretical rationale for using these techniques and explain how they might operate to facilitate client change Cognitive behavioural therapy is a key treatment in overcoming, anxieties, addictions and phobias. It is increasingly used by clinicians as an empirically valid way to treat clients, by focusing on the problem in the here and now. Instead of investigating the past as a cause of these problems rather it looks for ways to improve your state of mind now, for this reason it is becoming more popular in the therapeutic world. Furthermore behavioural interventions are seen as core aspects of CBT and are seen as vital to assist the client in reducing the frequency as well as eliminating any unwanted or maladaptive behaviours. There are various forms of behavioural intervention and the one used will depend on the circumstances of the client. One key behavioural intervention is, Systematic Desensitisation which was introduced by Wople (1958) this is a therapeutic intervention which focuses its attention on the process of relaxation in overcoming phobias and anxiety disorders. It aims to reduce the link between the distressing situation/object and the subsequent feeling of anxiety which can be inhibiting to the clients ability to function and manage there everyday life. The process involves substituting the previous response to a feared stimulus for example public speaking with a contradictory message, such as relaxation which is introduced by the therapist step by step. Over time this will lead to the positive reactions to the situation therefore diminishing or hopefully eradicating the negative responses all together This behavior modification technique of systematic desensitization, which is founded on the principles of classical conditioning, can be used to facilitate client change in some of the most common fears such as public speaking. In this situation the therapist can facilitate change by introducing the client to three key techniques. The initial process will involve progressive relaxation training , a technique initially perfected by Edmund Jacobson during the 1930s. The next stage would involve the client ordering anxiety provoking situations into a hierarchy ranging from very anxiety provoking i.e performing in a theatre, to low anxiety provoking i.e performing to one person. The client can thus move through the hierachy by pairing the activity with the relaxation techniques learned previously. Thus, a gradual desensitization occurs, with relaxation replacing alarm. Another behavioral intervention which is implemented by therapists as well as teachers and trainers is social skills training (SST) used to help those who have difficulties relating to other people. This is a key process in improving peoples well being, a person who lacks these essential social skills can have great difficulty when communicating in everyday life this can lead to social isolation. It is in these situations when Social skills training can become an essential behavioral intervention. The therapist begins by dismantling these complex social behaviors into manageable chunks. In order of difficulty, and then to gradually introduce them to the patients, so they can learn in a manageable way the social skills required to become more integrated into society. How the specific behaviour  intervention you describe e.g. a behavioural experiment, systematic desensitisation  would be seen by a behaviourist therapist as helpful in bringing about a change in  the clients behaviour i.e. what are the processes and mechanisms thought to be  involved? Social skills training is a process which focuses on teaching the patients ways to avoid those social situation which may affect there behavior in a negative way for example for an alcoholic it is important to establish the behavior for drinking at parties where alcohol is served, or when they find themselves in other situations in which others may pressure them to drink. The SST would view the This can be very influential as part of the process of preventing the alcoholic from continuing with such behavior. A key behavioral intervention involves Reinforcement techniques focusing on operant conditioning It is theorized therefore that human behaviour is both learned and governed by its antecedents and its consequences. Simply put, children are more likely to learn and retain behaviours for which they receive positive reinforcement (reward) and are less likely to learn The first process in being able to facilitate client change is to carry out a functional analysis in order to understand which conditions are responsible for maintaining the behaviour, why and when the behaviour occurs This is a process in which the therapist is required to carry out a detailed assessment which can identify the complex patterns of behaviour which are involved in the behaviour which needs to be solved Functional assessments are used to identify the most powerful reinforcement, after these have been established the therapist can then intervenes to assist client in changing these conditions Interventions are designed to achieve long term, generalised behaviour change in target and related skill areas (McGahan, 2001). The aim is to modify reinforcement schedules to increase the desired behaviour and decrease the undesired behaviour These behavioural interventions are useful ways to prevent the persistence of negative behaviours within cognitive behavioural therapy in an ethical way unlike those interventions such as aversion therapy.

Art of Psychotherapy Essay -- therapeutic relationship

I believe that the art of psychotherapy is more important than empirically validated treatments (EVT). I feel that the art of psychotherapy lies in the common factors, which include the therapeutic relationship, client and therapist factors (e.g., personality), helping clients deal with problems, and hope or expectancy factors (Reisner, 2005). Although I do believe that empirically validated treatments may enhance the therapeutic process, the treatments themselves are by no means the most important or fundamental aspects of therapy. There appears, at least to me, to be much more of an art involved in developing the relationship with the client and understanding the client’s perspective. It takes art and skill of a therapist to examine, explore, or understand the self and another person. I agree with the idea presented by Allen (2008) that scientific knowledge is important, but it is not sufficient for the successful outcomes in psychotherapy. If a therapist cannot develop a re lationship and understand the client, then it is unlikely that individualized techniques could be successfully applied. Psychotherapy could easily exist as an art form if it were not for managed care. Managed care has not completely eradicated the art of psychotherapy at this point in time; however, as more research reveals EVT are applicable to more disorders, then the art of psychotherapy will likely decline in existence. This would occur due to managed care’s preferences for the use of EVT, since there is evidence that they work and likely work quickly, saving time and money. In order to receive reimbursement and compete with psychopharmacology there is a growing necessity for the reliance on empirically validated therapy (Reisner, 2005). Psychotherapy... ...ong with any necessary treatment measures (Scaturo, 2001). All types of therapy approaches are getting at the same problems of the client in an effort to alleviate them. The only real difference is they â€Å"process† that is that is involved. A discrepancy in treatment and the outcome is created if clinical expertise alone, research findings (EVTs) alone, or patient preference alone determines the treatments that the client gets (Reisner, 2005). Therapy involves both science (empirically validated treatments) and art by combining the relationship, knowledge of the client’s needs with the proper treatment techniques. Overall, I do not feel that manualized treatments will ever completely replace the art of psychotherapy; however, it is likely that the combination of manualized treatments and the art of psychotherapy will lead to more successful therapeutic outcomes. Art of Psychotherapy Essay -- therapeutic relationship I believe that the art of psychotherapy is more important than empirically validated treatments (EVT). I feel that the art of psychotherapy lies in the common factors, which include the therapeutic relationship, client and therapist factors (e.g., personality), helping clients deal with problems, and hope or expectancy factors (Reisner, 2005). Although I do believe that empirically validated treatments may enhance the therapeutic process, the treatments themselves are by no means the most important or fundamental aspects of therapy. There appears, at least to me, to be much more of an art involved in developing the relationship with the client and understanding the client’s perspective. It takes art and skill of a therapist to examine, explore, or understand the self and another person. I agree with the idea presented by Allen (2008) that scientific knowledge is important, but it is not sufficient for the successful outcomes in psychotherapy. If a therapist cannot develop a re lationship and understand the client, then it is unlikely that individualized techniques could be successfully applied. Psychotherapy could easily exist as an art form if it were not for managed care. Managed care has not completely eradicated the art of psychotherapy at this point in time; however, as more research reveals EVT are applicable to more disorders, then the art of psychotherapy will likely decline in existence. This would occur due to managed care’s preferences for the use of EVT, since there is evidence that they work and likely work quickly, saving time and money. In order to receive reimbursement and compete with psychopharmacology there is a growing necessity for the reliance on empirically validated therapy (Reisner, 2005). Psychotherapy... ...ong with any necessary treatment measures (Scaturo, 2001). All types of therapy approaches are getting at the same problems of the client in an effort to alleviate them. The only real difference is they â€Å"process† that is that is involved. A discrepancy in treatment and the outcome is created if clinical expertise alone, research findings (EVTs) alone, or patient preference alone determines the treatments that the client gets (Reisner, 2005). Therapy involves both science (empirically validated treatments) and art by combining the relationship, knowledge of the client’s needs with the proper treatment techniques. Overall, I do not feel that manualized treatments will ever completely replace the art of psychotherapy; however, it is likely that the combination of manualized treatments and the art of psychotherapy will lead to more successful therapeutic outcomes.

Marilyn Monroe :: essays research papers

Marilyn Monroe's career as an actress lasted 16 years. She made many films films, 24 in the first 8 years of her career. Born as Norma Jeane Mortenson on June 1, 1926 in Los Angeles General Hospital, her mother, Gladys, listed the fathers address as unknown. Marilyn would never know the true identity of her father. Due to her mother's mental instability and the fact that she was unmarried at the time, Norma Jeane was placed in the foster home of Albert and Ida Bolender. It was here she lived the first 7 years of her life. In 1933, Norma Jeane lived briefly with her mother. Gladys begin to show signs of mental depression and in 1934 was admitted to a rest home in Santa Monica. Grace McKee, a close friend of her mother took over the care of Norma Jeane. "Grace loved and adored her", recalled one of her co-workers. Grace, telling her..."Don't worry, Norma Jeane. You're going to be a beautiful girl when you get big...an important woman, a movie star." Grace was captivated by Jean Harlow, a superstar of the twenties, and Marilyn would later say:"and so Jean Harlow was my idol." Grace was to marry in 1935 and due to financial difficulties, Norma Jeane was placed in an orphanage from September 1935 to June 1937. Grace frequently visited her, taking her to the movies, buying clothes and teaching her how to apply makeup at her young age. Norma Jeane was to later live with several of Grace's relatives. In September 1941 Norma Jeane was again living with Grace when she met Jim Dougherty, 5 years her senior. Grace encouraged the relationship and on learning that she and her husband would be moving to the East Coast, set in motion plans for Norma Jeane to marry Dougherty on June 19, 1942. Dougherty joined the Merchant Marines in 1943 and in 1944 was sent overseas. Norma Jeane, while working in a factory inspecting parachutes in 1944, was photographed by the Army as a promotion to show women on the

Calculation and Report of Wacc of Microsoft

Bonds Microsoft’s long-term debt is composed of eight long-term bonds. It also has two short-term bonds that mature this year and early next year. These bonds were neglected in this report. In this report the required return was calculated by using the coupon rates, market values, time until maturity, and tax rate. These values were all found on Microsoft’s 2012 financial statement. The weighted average cost of debt was then found through the multiplication of each bond’s required return and their corresponding bond weights.These bond weights were found through the multiplication of the quantity of bonds at each interest rate and the market value of each bond; this calculated value was then divided by the total amount of long-term debt, which gives the weights as a percent of the total debt. Microsoft’s total debt was calculated to be lkasdfjl;kasjdf, and the after-tax cost of debt was calculated to be asdfkl;safd. These are logical calculations, since the majority of Microsoft’s bonds do, in fact, have interest rates around 4%.Note, the interest on Microsoft’s bonds is incurred on a semi-annual basis and was calculated in this report on the same basis. Therefore, the semi-annual cost of debt would be half this value: 2%. Some other notes to consider in bond calculations are given below: Do we have any other notes to consider guys? Feel free to message me, and I’ll add them, or add them yourselves if you think there is anything else to include.

The Return: Shadow Souls Chapter 10

The next morning Elena got up and dressed quietly in the motel room, grateful for the extra space. Damon was gone, but she had expected that. He usually got his breakfast early while they were on the road, preying on waitresses at all-night truck stops or early-morning diners. She was going to discuss that with him someday, she thought as she put the packet of ground coffee in the little two-cup percolator the motel provided. It smelled good. But more urgently, she needed to talk to someone about what had happened last night. Stefan was her first choice, of course, but she'd found that out of body experiences weren't just to be had for the asking. What she needed to do was call Bonnie and Meredith. She had to talk to them – it was her right – but now, of all times, she couldn't. Intuitively, she felt that any contact between her and Fell's Church might be bad. And Matt had never checked in. Not once. She had no idea where he was on the road, but he had better be in Sedona on time, that was all. He had deliberately cut off all communication between them. Fine. As long as he showed up when he had promised. But†¦Elena still needed to talk. To express herself. Of course! She was an idiot! She still had her faithful companion that never said a word, and never kept her waiting. Pouring herself a cup of scalding black coffee on the way, Elena dug her diary out of the bottom of her duffel bag and opened it to a fresh, clean page. There was nothing like a fresh page and an ink pen that ran smoothly to start her writing. Fifteen minutes later there was a rattle at one window and a minute later Damon was stepping through. He had several paper bags with him and Elena felt unaccountably pleased and homey. She had provided coffee, which was rather good even if it came with dried cream substitute, and Damon had supplied†¦ â€Å"Gasoline,† he said triumphantly, raising his eyebrows significantly at her as he set the bags on the table. â€Å"Just in case they try to use plants against us. No, thanks,† he added, seeing she was standing with a full cup of coffee held in his direction. â€Å"I had a garage mechanic while I was buying this. I'll just go wash my hands.† And he disappeared, walking right past Elena. Walking right past her, without a glance, even though she was wearing her only clean pair of clothes left: jeans and a subtly colored top that looked white at first glance and only in the brightest light revealed that it was ethereally rainbow-shaded. Without a single look, Elena thought, feeling a strange sensation that somehow her life had just lapped itself. She started to throw the coffee away but then decided she needed it herself and drank it in a few scalding gulps. Then she went and stood by her diary, reading over the last two or three pages. â€Å"Are you ready to go?† Damon was shouting over the sound of running water in the bathroom. â€Å"Yes – in just a minute.† Elena read the diary pages from the previous entry, and began skimming the one before that. â€Å"We might as well go straight west from here,† Damon shouted. â€Å"We can make it in one day. They'll think it's a feint for one particular gate and search all the small ones. Meanwhile we'll go on heading for the Kimon Gate and be days ahead of anyone tracking us. It's perfect.† â€Å"Uh-huh,† Elena said, reading. â€Å"We ought to be able to meet Mutt tomorrow – maybe even this evening, depending on what kind of trouble they cause.† â€Å"Uh-huh.† â€Å"But first I wanted to ask you: do you think it's a coincidence that our window is broken? Because I always put wards on them at night and I'm sure – † He passed a hand over his forehead. â€Å"I'm sure that I must have done that last night, as well. But something got through and broke the window and got away without a trace. That was why I bought all the the gasoline. If they try something with trees, I'll blast them all back to Stonehenge.† And half the innocent residents of the state, Elena thought grimly. But she was in a state of such shock that not much could make an impression on top of it. â€Å"What are you doing now?† Damon was clearly ready to get up and going. â€Å"Getting rid of something I don't need,† Elena said, and flushed the toilet, watching the torn-up bits of her diary swirl round and round before disappearing. â€Å"I wouldn't worry about the window, though,† she said, coming back into the bedroom and slipping her shoes on. â€Å"And don't get up for a minute, Damon. I've got to talk to you about something.† â€Å"Oh, come on. It can wait until we're on the road, can't it?† â€Å"No, it can't, because we've got to pay for that window. You broke it last night, Damon. But you don't remember doing it, do you?† Damon stared at her. She could tell that his first temptation was to laugh. His second temptation, to which he gave in, was to think that she was nuts. â€Å"I'm serious,† she said, once he had gotten up and started to pace toward the window with a distinct look of wanting to be a crow flying out of it. â€Å"Don't you dare go anywhere, Damon, because there's more.† â€Å"More stuff I did that I don't remember?† Damon lounged against the wall in one of his old, arrogant poses. â€Å"Maybe I smashed a few guitars, kept the radio on until four A.M.?† â€Å"No. Not necessarily things from – last night,† Elena said, looking away. She couldn't look at him. â€Å"Other things, from other days – â€Å" â€Å"Like maybe I've been trying to sabotage this trip all along,† he said, his voice laconic. He eyed the ceiling and sighed heavily. â€Å"Maybe I've done it just to be alone with you – â€Å" â€Å"Shut up, Damon!† Where had that come from? Well, she knew that, of course. From her feelings about last night. The problem was that she also had to get some other things settled – seriously, if he would take them. Come to think of it, that might be a better way to go about this. â€Å"Do you think that your feelings about Stefan – well, have changed at all recently?† Elena asked. â€Å"What?† â€Å"Do you think† – oh, this was so difficult looking into black eyes the color of endless space. Especially when last night they had been full of myriads of stars – â€Å"do you think that you've come to think of him differently? To honor his wishes more than you used to do?† Now Damon was openly examining her, just as she was examining him. â€Å"Are you serious?† he said. â€Å"Completely,† she said, and, with a supreme effort, she sent her tears back where they were supposed to go. â€Å"Something did happen last night,† he said. He was looking intently at her face. â€Å"Didn't it?† â€Å"Something happened, yes,† Elena said. â€Å"It was – it was more of a – † She had to let out her breath, and with that almost everything went. â€Å"Shinichi! Shinichi, che bastardo! Imbroglione! That thief! I'm going to kill him slowly!† Suddenly Damon was everywhere. He was beside her, his hands on her shoulders; the next minute he was shouting imprecations out the window, then he was back, holding both her hands. But only one word mattered to Elena. Shinichi. The kitsune with his black, scarlet-tipped hair, who had made them give up so much just for the location of Stefan's cell. â€Å"Mascalzone! Maleducato – † Elena lost track of Damon's cursing again. So it was true. Last night had been completely stolen from Damon, taken from his mind as simply and completely as the interval when she had used Wings of Redemption and Wings of Purification on him. The latter he had agreed to. But last night – and what other things had the fox been taking? To cut out an entire evening and night – and this evening and night in particular, implied that†¦ â€Å"He never shut down the connection between my mind and his. He still can reach inside me any time he chooses.† Damon had finally stopped swearing, and stopped moving. He was sitting on the couch opposite the bed with his hands drooping between his knees. He looked singularly forlorn. â€Å"Elena, you have to tell me. What did he take from me last night? Please!† Damon looked as if he might fall on his knees in front of her, without melodrama. â€Å"If – if – it was what I think – â€Å" Elena smiled, although tears were still running down her face. â€Å"It wasn't – what anyone would think, exactly, I suppose,† she said. â€Å"But – !† â€Å"Let's just say that this time – was mine,† Elena said. â€Å"If he's stolen anything else from you, or if he tries to do it in the future, then he's fair game. But this†¦will be my secret.† Until maybe someday you break into your huge boulder of secrets, she thought. â€Å"Until I tear it out of him, along with his tongue and his tail!† snarled Damon, and it was truly the snarl of an animal. Elena was glad it wasn't directed at her. â€Å"Don't worry,† Damon added in a voice so chilling that it was almost more frightening than the animal fury. â€Å"I will find him, no matter where he tries to hide. And I will take it from him. I might just take his entire little furry hide off with it. I'll make you a pair of mittens out of it, how's that?† Elena tried to smile and did a pretty good job. She was just coming to terms with what had happened herself, although she didn't believe for a minute that Damon would really leave her alone on the subject until he forced the memory back out of Shinichi. She realized that on some level she was punishing Damon for what Shinichi had done, and that was wrong. I promise no one will know about last night, she told herself. Not until Damon does. I won't even tell Bonnie and Meredith. This made things a lot harder on her, and therefore probably more equitable. As they were cleaning up the debris from Damon's most recent fit of fury, he suddenly reached up to brush a stray tear from Elena's cheek. â€Å"Thank you – † Elena began. Then she stopped. Damon was touching his fingers to his lips. He looked at her, startled and a little disappointed. Then he shrugged. â€Å"Still unicorn bait,† he said. â€Å"Did I say that last night?† Elena hesitated, then decided that his words didn't fall within the crucial time limits of secrecy. â€Å"Yes, you did. But – you won't give me away, will you?† she added, suddenly anxious. â€Å"I've promised my friends not to say anything.† Damon was staring at her. â€Å"Why should I say anything about anybody? Unless you're talking about the little redheaded one?† â€Å"I told you; I'm not saying anything. Except that obviously Caroline isn't a virgin. Well, with all the ruckus about her being pregnant – â€Å" â€Å"But you remember,† Damon interjected, â€Å"I came to Fell's Church before Stefan did; I just lurked in the shadows longer. The way you talked – â€Å" â€Å"Oh, I know. We liked boys and boys liked us, and we already had reputations. So we just talked any way we felt like talking. Some of it may have been true, but a lot of it you could take two ways – and then of course you know how boys talk – â€Å" Damon knew. He nodded. â€Å"Well and so pretty soon everyone was talking about us as if we'd done everything with everyone. They even wrote stuff about it in the paper and the yearbook and on the bathroom walls. But we had a little poem, too, and sometimes we even wrote it with our signatures on it. How did it go?† Elena cast her mind back a year, two years, more. Then she recited: â€Å"Just because you heard it, doesn't make it true. Just because you read it, doesn't make it so. The next time that you hear it, it may be about you. Don't think that you can change their minds, just 'cause you know – you know!† As Elena finished, she looked at Damon, suddenly feeling the urgent need to get to Stefan. â€Å"We're almost there,† she said. â€Å"Let's hurry.†