Use And Abuse Of Drugs In Sports Essay Example | Topics and Well Written Essays - 750 words

Use And Abuse Of Drugs In Sports - Essay Example Many professional athletes, especially football and baseball players, have used cocaine during the playing season, and sometimes amphetamines during the games themselves. Some of these players turned in brilliant performances, suggesting that the consumption of cocaine, like amphetamines, may be beneficial for speed and strength, at least in the short run. In a sports "scandal," the Commissioner of the National Football League suspended four players for four games of the 1983 season because of their involvement with drugs. One of the four, defensive endsRoss Browner, had set a Super Bowl record of 10 unassisted tackles. Another, running back Pete Johnson, was the all-time leading rusher for the Cincinnati Bengals. A third, a rookie, finished third in team tackles. It seems doubtful that cocaine hurt their playing. (Howe, 125-126) Drug abuse, one of the most sensitively charged and important issues facing athletics and society in general today, defies easy solutions. The problem of drug abuse has grown at all levels of athletic competition over the past two decades at a frightening speed, from the interscholastic to the Olympic and intercollegiate levels of competition. In the United States, the increase of drug abuse in athletics reflects a like increase and, to a degree, acceptance of drugs among the general populace. It is a serious issue that includes health considerations, law enforcement problems, and moral/ethical questions for athletes, coaches, and athletic administrators. The growing awareness of the presence of drug use in the world of athletics has produced drug and alcohol awareness programs. In an increasing number of sports, from boxing to hockey and from athletics to basketball, there has been a striking rise in the detrimental usage of drugs to enhance players' performance, not only by professional sports men but also by amateurs. In reply to global alarm over the occurrence of healthiness and other societal harms associated with the usage of illegal or prohibited drugs in competition of sports worldwide, World Health Organisation initiated an international programme to facilitate nations of the world to build up and carry out drugs abusage deterrence activities in 1992. (Massimino, 44) In present state world where only some glower on a cup of coffee to benefit in the morning, and where money plays such an vital and essential role in sports, it is difficult to influence sports men not to take performance improving illegal drugs. In different corners of world even though prototypes of' drug usage are different varied; some shape of drug usage subsist in approximately all sports and across nearly every age group. The latent injurious and detrimental usage of drugs took many forms, including over usage of unproven food supplements and vitamins, negative dependence on therapeutic drag to treat wounds and injuries, and the taking of huge amount of anabolic steroids. The harmful drugs usage among sports men of the world is an element of an active and exceptionally complex procedure associated with physiological, social, psychological, economic and political variables. No simple pattern of drugs usage materialized, apart from that an outsized number of nations and several different sports are affected. The efforts to standardize and manage the usage of drugs in sports have alerted on creating modern processes of checking and testing programmes. Checking and testing

Racial discrimination Essay Example for Free

Racial discrimination Essay The era of Jim Crow segregation will forever be linked with racial discrimination and the push for civil rights following Reconstruction.   The two most influential black men of the time, Booker T. Washington and W.E.B. DuBois, were also two of the most polarizing forces within the black community.   Both men strived for racial equality in the eyes of the law, but they employed contrasting strategies in order to combat the dire political and economic situation African Americans found themselves trying to escape. With his leadership skills and political cache, Booker T. Washington was the most famous African American leading the black charge into the 20th Century.   His power increased with his economic and political ties through the Tuskegee Institute and his relations with Presidents Roosevelt and Taft, both of whom were racially prejudiced.   Mr. Washington believed that blacks should accept their subjugated citizenship for the time being instead of agitating the white population.   In his mind, if blacks could earn a dollar through industrial education they would be much better off than fighting the latent power of white society. On the other end of the spectrum, Harvard educated W.E.B. DuBois took the intellectual path to the racial struggle.   His theory held that blacks should never accept a lower position in society just because that was the way things were.   Through his writings and organizing tactics, DuBois rallied the intelligentsia, The Talented 10th, in order to raise black consciousness above the perceived blind acceptance of Booker T. Washington.   DuBois was severely opposed to racial segregation in both politics and economics whereas Washington supported an agenda based on the separation of the races.

Should College Students Be Tested For Acquired Immune Deficiency Syndrome? :: essays research papers fc

Should College Students Be Tested For Acquired Immune Deficiency Syndrome? Today, Acquired Immune Deficiency Syndrome is a horrifying epidemic that is grasping our younger adults. If more college students knew more about the exact effect of AIDS, then it wouldn’t be a huge epidemic as is now. College students need to be tested for AIDS so that they can inform other people of the opposite sex of the sexual background so that they don’t pass the deadly disease to them. Today with many of the college students being sexually active with people that they barely know, it is encouraged that students get tested for AIDS at least every 3 months for virus. Catching AIDS is not a joke and no one wants to be the unlucky soul to have it. Once acquiring AIDS, there is no turning back because Acquired Immune Deficiency Syndrome is non-curable. I believe that a lack of knowledge of their mates background is the reason why students contract AIDS. If a person is HIV positive, I believe that it is everyone’s right to know so that they can be safe from cold-hearted people who don’t want to reveal having it. Luckily a female student at Si Tanka-Huron University in Huron, South Dakota didn’t contract the disease, from her boyfriend who did not inform her that he was HIV positive, before the two of them proceeded in unprotected sexual intercourse. His name is Nikko Briteramos and he was sentenced for having sex with his girlfriend without revealing that he had HIV. Their was justice this time with the girl being HIV negative but the next time someone unprotected sex with someone that they do not fully understand their sexual background might not be so fortunate (Anonymous 39). It is instances like this one why I believe that there should be some type of tattoo or something to let people know that someone is HIV positive so that there will not be any suspicions of a mate lying about not having HIV. The tattoo ca n be permanent or temporary(for those diseases that are curable). Knowledge of the background of a mate sexual background is a key factor of college students staying aware and safe from Acquired Immune Deficiency Syndrome. Doctors and scientists say that knowledge is an enabling factor with regard to students’ comfort levels in asking their partner’s sexual histories, and in requesting that partners take an AIDS test just as the girl should of did her boyfriend Nikko Briteramos.

Financial Market

International Journal of Islamic and Middle Eastern Finance and Management Emerald Article: Financial market risk and gold investment in an emerging market: the case of Malaysia Mansor H. Ibrahim Article information: To cite this document: Mansor H. Ibrahim, (2012),†Financial market risk and gold investment in an emerging market: the case of Malaysia†, International Journal of Islamic and Middle Eastern Finance and Management, Vol. 5 Iss: 1 pp. 25 – 34 Permanent link to this document: http://dx. doi. org/10. 1108/17538391211216802 Downloaded on: 26-09-2012References: This document contains references to 13 other documents To copy this document: [email  protected] com This document has been downloaded 335 times since 2012. * Users who downloaded this Article also downloaded: * Mohamed Hisham Yahya, Junaina Muhammad, Abdul Razak Abdul Hadi, (2012),†A comparative study on the level of efficiency between Islamic and conventional banking systems in Malaysia†, International Journal of Islamic and Middle Eastern Finance and Management, Vol. 5 Iss: 1 pp. 48 – 62 http://dx. doi. org/10. 1108/17538391211216820Muhamad Abduh, Mohd Azmi Omar, (2012),†Islamic banking and economic growth: the Indonesian experience†, International Journal of Islamic and Middle Eastern Finance and Management, Vol. 5 Iss: 1 pp. 35 – 47 http://dx. doi. org/10. 1108/17538391211216811 Samy Nathan Garas, (2012),†The control of the Shari'a Supervisory Board in the Islamic financial institutions†, International Journal of Islamic and Middle Eastern Finance and Management, Vol. 5 Iss: 1 pp. 8 – 24 http://dx. doi. org/10. 1108/17538391211216794 Access to this document was granted through an Emerald subscription provided y ASSUMPTION UNIVERSITY OF THAILAND For Authors: If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service. Information about how to choose which pub lication to write for and submission guidelines are available for all. Please visit www. emeraldinsight. com/authors for more information. About Emerald www. emeraldinsight. com With over forty years' experience, Emerald Group Publishing is a leading independent publisher of global research with impact in business, society, public policy and education.In total, Emerald publishes over 275 journals and more than 130 book series, as well as an extensive range of online products and services. Emerald is both COUNTER 3 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. *Related content and download information correct at time of download. The current issue and full text archive of this journal is available at www. emeraldinsight. com/1753-8394. htm Financial market risk and gold investment in an emerging market: the case of MalaysiaMansor H. Ibrahim Mar ket risk and gold investment 25 Department of Economics, Universiti Putra Malaysia, Serdang, Malaysia Abstract Purpose – The purpose of this paper is to examine the relation between gold return and stock market return and whether its relation changes in times of consecutive negative market returns for an emerging market, Malaysia. Design/methodology/approach – The paper applies the autoregressive distributed model to link gold returns to stock returns with TGARCH/EGARCH error speci? cation using daily data from August 1, 2001 to March 31, 2010, a total of 2,261 observations.Findings – A signi? cant positive but low correlation is found between gold and once-lagged stock returns. Moreover, consecutive negative market returns do not seem to intensify the co-movement between the gold and stock markets as normally documented among national stock markets in times of ? nancial turbulences. Indeed, there is some evidence that the gold market surges when faced with cons ecutive market declines. Practical implications – Based on these results, there are potential bene? ts of gold investment during periods of stock market slumps. The ? ndings should prove useful for designing ? ancial investment portfolios. Originality/value – The paper evaluates the role of gold from a domestic perspective, which should be more relevant to domestic investors in guarding against recurring heightened stock market risk. Keywords Malaysia, Emerging markets, Gold, Returns, Investments, Stock markets, Gold investment, Market return, Correlations, Market risk Paper type Research paper Introduction Over the past decades, the global ? nancial markets have witnessed a string of ? nancial crises, among them include the Mexican peso crisis in 1994, the Asian ? nancial ? in 1997/1998, the Russian crisis in 1998, the Brazilian crisis in 1999, the Argentine ? nancial crisis in 2001/2002 and most recently the US subprime crisis in 2007 and the Greece ? nancial crisis in 2009. Mentioning of these crises is likely to conjure up in the mind of many the images of excessive risk in stock market investment and to bring back interest in gold as an alternative investment asset. This interest is well-placed as gold used to be a standard of value, is still considered as a store of value and is universally accepted. Moreover, there seems to be a trong belief that gold can provide protection, as a hedge or a safe haven, against this heightened risk in the ? nancial markets. As noted by Baur and McDermott (2010), gold differs from other assets in that it reacts positively to adverse market shocks. As they mention, real gold value reached its historic high roughly in 1980 when the global economy faced the threat of stag? ation due to oil crises in 1970s. Likewise, at the time the US subprime crisis intensi? ed in September 2008, gold has responded with a surge in its value (Baur and McDermott, 2010). International Journal of Islamic and Middle Eastern Finance andManagement Vol. 5 No. 1, 2012 pp. 25-34 q Emerald Group Publishing Limited 1753-8394 DOI 10. 1108/17538391211216802 IMEFM 5,1 26 Against a backdrop of recurring ? nancial crises and contagion as well as emerging interest in gold, several studies have attempted empirical investigation of gold hedging property. Notable among these studies are recent works by Capie et al. (2005), Hillier et al. (2006), Baur and Lucey (2010) and Baur and McDermott (2010). Capie et al. (2005) investigate an exchange rate hedge of gold using weekly data of gold price and sterling-dollar and yen-dollar exchange rates from January 1971 to February 2004.They ? nd supportive evidence for exchange rate hedging property of gold, although the strength of hedging tends to vary over time. Hillier et al. (2006) assesses the investment role of precious metals, namely gold, platinum and silver for the US market. They note low correlations between these three metals and stock market returns, which suggests diversi ? cation bene? ts of gold investment. Baur and Lucey (2010) examines whether gold is a safe haven, i. e. maintaining its value in times of market stress or turmoil, for the US, UK and German markets.They document evidence suggesting the ability of gold to hedge against ? nancial risks and to serve as a safe haven in extreme market conditions for these markets. Most recently, Baur and McDermott (2010) extend the work of Baur and Lucey (2010) to a larger number of markets, which include both major developed and emerging markets. They analyze the relations between gold return and returns of world and emerging market indexes, various regional market indexes, and 13 individual market indexes. Their results demonstrate the ability of gold to provide a hedge and a strong safe haven for European and US markets.Thus, for developed markets, gold provides protection against losses during extreme market conditions. As they explain, investors in these markets sell stocks and buy gold when faced with heightened ? nancial risk. By contrast, the emerging markets seem to lack these properties indicating that investors tend to react differently to adverse shocks in emerging markets. Namely, they shift the composition of their portfolios by selling shares of emerging markets and seeking shelter in the developed markets, which are viewed to be relatively safe.In the present paper, we take lead from these studies and examine the investment role of gold for an emerging Asian market, Malaysia. We attempt to contribute to this line of inquiry in several aspects. First, in Baur and McDermott (2010), the investment role of gold for emerging markets is examined by looking at the relation between gold return and emerging market index return and individual market returns of four largest emerging markets, i. e. Brazil, Russia, India and China. We add to their study by looking at a smaller emerging market.Second, while the present study looks at gold investment from an international perspec tive, we look at the issue from a domestic perspective. All aforementioned studies employ gold price in US dollar in their analysis. Instead of using the dollar-denominated gold price and converting it into domestic currency unit as in Baur and Lucey (2010), we use domestic gold price instead. While we acknowledge that the Malaysian gold price may have depended on the global gold price, the use of gold price quoted domestically in ringgit screens out potential confounding effect of exchange rate movement and currency onversion. Finally, we bring out a new empirical perspective in evaluating the investment role of gold. Namely, we examine whether gold maintains its value or its relation with market returns when faced with consecutive negative daily returns. We focus on Malaysia due to deep interest in gold shown by Malaysian policymakers and academics in the face of 1997/1998 Asian ? nancial crisis. Tun Mahathir Mohamad, the then Prime Minister of Malaysia, voiced interest in this un iversally accepted asset and proposed the use of gold particularly in international trade settlement The News Strait Times, 2001). A series of international conferences have been organized on the subject of gold and gold Dinar[1], among them include International Conference on Stable and Just Monetary System and International Conference on the Gold Dinar in Multilateral Trade in 2002, International Conference on Gold in International Trade in 2003 and International Conference on Gold Dinar Economy in 2007. In July 2001, Malaysia became the 12th country in the world to have its own gold bullion coins through the launching of the gold bullion coins known as Kijang Emas by the Royal Mint Malaysia.This is followed by the issuance of Royal Mint gold Dinar in 2003 and Kelantan State gold Dinar in 2006. While the introduction of these gold coins is to serve primarily as a store of value or an alternative ? nancial asset for investment, the gold investment performance for the case of Malays ia has hardly received any empirical attention. The availability of daily domestic gold bullion price since 2001 provides us an opportunity to examine the investment role of gold from a domestic market perspective and, at the same time, widens the literature on emerging markets. The rest of the paper is structured as follows.In the next section, we provides the empirical framework used in the analysis. Then, we describes the data and present estimation results. Finally, we conclude with the main ? ndings and some concluding remarks. Empirical framework We specify our empirical model using an autoregressive distributed lag model along the line of Capie et al. (2005). Thus, we have: RG;t ? a ? rRG;t21 ? b1 RS;t ? b2 RS;t21 ? 1t ?1? where RG is the daily return of gold investment and RS is the corresponding return of stock investment. The lagged dependent is included to allow for autocorrelation structure in gold return.Meanwhile, the incorporation of once-lagged stock return is based on our presumption that, in emerging markets, the transmission of information among markets may take time. That is, the changes in stock return may be impounded into the gold return with lag. The total sensitivity of gold return to stock market ? uctuations is based on the sum of stock market coef? cients, i. e. b1 ? b2. If this sum is signi? cantly positive and is far from unity or the model explanatory is close to zero, we may conclude that gold serves as a diversi? cation asset (Hillier et al. , 2006).Meanwhile, if it is not signi? cant or is signi? cantly negative, then gold investment can provide a hedge against ? nancial market risk (Baur and Lucey, 2010; Baur and McDermott, 2010). We refer to equation (1) as our basic model. Based on equation (1), we ask further whether gold return dynamics remain similar under conditions of consecutive negative market returns. To this end, we adapt the framework used by Nam et al. (2005) in their analysis of stock return asymmetry by modifyi ng equation (1) as: RG;t ? a0 ? a1 Nmt ? rRG;t21 ? ?b10 ? b11 Nmt ? ? RS;t ? ?b20 ? b21 Nmt ? ? RS;t21 ? 1t ?2? here Nmt is a dummy variable representing consecutive negative market returns. Five alternative dummies corresponding to days of consecutive negative returns are considered and they are de? ned as: Market risk and gold investment 27 IMEFM 5,1 N0 ? 28 † N1 ? N4 ? † † 1 if RS;t , 0 0 otherwise 1 if RS;t , 0; RS;t21 , 0 0 otherwise ?3? ?4? . . . 1 if RS;t , 0; 0 otherwise RS;t21 , 0; :::; RS;t24 , 0 ?5? Note that we include Nm as both intercept and interactive dummies. The intercept dummy is intended to capture the level effect of m ? 1 consecutive negative market returns, current return and the returns of last m days, on gold return.Meanwhile, the interactive dummy is to capture the changing relations between stock return and gold return under conditions of consecutive negative market returns, the main interest of the paper. In the paper, we denote these mo dels with alternative de? nition of dummies, respectively, as model N0, N1, N2, N3 and N4. In equation (2), the sum b10 ? b20 captures the relation between the two markets under normal market conditions while b10 ? b20 ? b11 ? b21 measures their relation when the stock market experiences m ? 1 days of consecutive negative returns. Accordingly, the signi? cance of b11 and b21 re? cts the changing relations between gold return and market return in times of market downturns. If they are signi? cantly positive, then the gold return tends to move in closer tandem to stock market movement, weakening gold investment role as a diversi? cation asset. However, if they are signi? cantly negative, then gold investment is said to provide at least a hedge against ? nancial losses during market downturns. Finally, if they are insigni? cantly different from 0, the dynamics of gold return tends to resist the slumps in stock prices and preserves its relation to the stock market regardless of the mark et conditions.We believe that this perspective that we bring provides a nice complementary empirical exercise to the works of Baur and Lucey (2010) and Baur and McDermott (2010) that look at the relations between the two during extreme market conditions. In the implementation of equations (1) and (2), we take note of ample evidence that high-frequency asset returns tend to exhibit leptokurtic property or volatility clustering, the so-called autoregressive conditional heteroskedasticity (ARCH) effect. In ? nance literature, various error distributions have been assumed and variance equation speci? cations have been suggested.The error distribution is assumed to be distributed according to either the normal distribution (N), t-distribution (T), or generalized error distribution (G). Among the time-varying variance speci? cations include the generalized autoregressive conditional heteroskedasticity (GARCH), threshold ARCH (TARCH), and exponentional GARCH (EGARCH). The latter two allow for asymmetric responses of volatility to positive and negative shocks. To avoid arbitrary model selection, we follow Capie et al. (2005) by basing on the maximum of log likelihood as a selection criterion. We ? nd asymmetric volatility speci? cation (TARCH or EGARCH) to best ? the gold return dynamics and generalized error distribution to best describe the error distribution. The suitability of asymmetric volatility modeling for gold return is in conformity with the behavior of other asset returns (Lobo, 2000; Koutmos and Martin, 2003). Data We employ 2,261 daily observations spanning from August 1, 2001 to March 31, 2010. The beginning date is dictated by data availability of gold bullion price. The selling prices of one troy ounce domestic gold bullion are used to represent domestic gold prices while the Kuala Lumpur composite index is used to represent aggregate prices of stock market investment.The data on the two prices are sourced, respectively, from Malaysia’s central bank, Bank Negara Malaysia, and Data Stream International. We compute gold and stock market returns as the ? rst difference of the natural log of respective series. Table I provides descriptive statistics of the two returns. We also plot these series in level and ? rst-differenced forms in Figure 1. Both gold and stock prices experience an upward trend over the sample period. While the daily average gold return is relatively higher than the daily average stock market return (i. e. 0. 6 percent against 0. 03 percent), it is more volatile than the market return as re? ected their respective standard deviations. This is accounted by the more extreme positive values of gold return (0. 1246) than the stock market return (0. 0426). Meanwhile, the extreme negative value of stock market return (2 0. 9997) is only slightly higher than the corresponding value of gold return (2 0. 0782). From the plots, we also note marked reduction of stock market prices around years of the Argentine ? nanci al crisis in 2001/2002 and of the US subprime crisis in 2007/2008.While the gold return is positively skewed, the market return demonstrates a negative skewness. Both return series are characterized by excess peakness having kurtosis statistics to be substantially higher than 3. This suggests volatility clustering in the return series, which is apparent in the graphical plots. The Jarge-Bera statistics reported at the bottom of Table I soundly rejects the null of normality for both returns. These characteristics in the data seem to justify the use of GARCH-type models for model speci? cation. As a preliminary analysis, we report the cross-correlations between RG,t and RS,t for up to ? e lags. With the standard error in the order of 0. 021 in absolute value, the correlation of roughly 0. 042 and higher suggests signi? cance correlation between the two returns. We note very low and mostly positive correlations between gold return and contemporaneous and lagged stock returns. Among the se correlations, only the DG Mean Median Maximum Minimum SD Skewness Kurtosis Jarque-Bera Probability Observations 0. 000305 8. 72 ? 102 5 0. 042587 2 0. 099785 0. 008518 2 0. 999659 15. 06466 14,082. 94 0. 000000 2,260 29 DS 0. 000561 0. 000000 0. 124645 2 0. 078182 0. 011909 0. 092587 12. 8588 8,656. 123 0. 000000 2,260 Market risk and gold investment Table I. Descriptive statistics IMEFM 5,1 8. 4 0. 15 0. 10 8. 0 0. 05 30 7. 6 0. 00 7. 2 6. 8 –0. 05 02 03 04 05 06 07 08 09 –0. 10 02 03 04 05 06 07 08 09 08 09 (b) Gold Return (a) Natural Log of Gold Price 7. 4 0. 08 7. 2 0. 04 7. 0 0. 00 6. 8 –0. 04 6. 6 Figure 1. Graphical plots of gold and stock prices and returns –0. 08 6. 4 6. 2 02 03 04 05 06 07 08 09 –0. 12 (c) Natural Log of Kuala Lumpur Composite Index 02 03 04 05 06 07 (d) Stock Market Return correlation between gold return and once-lagged stock return is signi? ant. Its correlation is positive, suggesting that the gold market tends to f ollow the stock market with one-day lag. The cross-correlations between gold return and lead stock returns indicate the absence of signi? cation correlations. Accordingly, the gold market does not lead the stock market. This preliminary analysis seems to provide a basis for our one-equation empirical approach with no feedback from gold return to stock return and with the inclusion of once-lagged stock return in the mean equation of gold return. As regards to our main interest, it indicates at best the diversi? ation property of gold investment since its noted positive correlation is far from unity. However, this ? nding is only suggestive and must be subject to a formal analysis, which we turn next (Table II). Estimation results This section conducts a formal analysis of gold return and its relation to stock market return as speci? ed in equations (1) and (2) using GARCH-type models. We experiment with various error distribution assumption and variance speci? cation and choose the o ne that maximizes the log likelihood. The values of log likelihood functions for alternative models are given in Table III.This log likelihood criterion unequivocally suggests the generalized error distribution of error terms. It also suggests either TARCH or EGARCH speci? cation to best describe variance speci? cation. TARCH speci? cation is chosen for basic model, model N0 and model N1 while EGARCH speci? cation for other models. Note that the differences in the log likelihood values between the two speci? cations are marginal. Estimation of the TARCH (1, 1) model for the basic mean equation yields the following results (numbers in parentheses are p-values): RG;t ? ht ? 0:0004 20:0344RG;t21 20:0111RS;t ?0:016? ?0:046? 0:582? 0:0000014 ?0:008? ?0:07721221 t 31 ?0:0502RS;t21 ?0:014? 20:05351221 I t21 t ?0:000? Market risk and gold investment ?0:003? ?0:9413ht21 ?0:000? N ? 2; 259; GED Parameter ? 1:7025 ? 0:000? ; Log Likelihood ? 7; 168:42 where It ? 1 if 1t , 0 and 0 otherwise. Th e use of TARCH model implies that previous shocks have asymmetric effects on volatility. Since the coef? cient of 1221 I t21 is negative, t bad news (1t , 0) tends to dampen market volatility. In other words, once-lagged positive news (1t2 1 . 0) exerts a greater impact on gold return volatility than negative news does, which conforms to the ? ding of Capie et al. (2005). Moreover, gold return volatility tends to be highly persistent as suggested by large coef? cient of lagged volatility. Turning to our main theme, we note the signi? cance of only once-lagged stock return. This conforms to the correlation structure observed in the previous section. However, its coef? cient is small, in the order of 0. 05. Thus, a 10 percentage point k RG,t, RS,t-k RG,t, RS,t? k 0 1 2 3 4 5 0. 0032 0. 0579 2 0. 0224 0. 0127 2 0. 0085 0. 0173 0. 0032 0. 0240 0. 0151 0. 0254 0. 0258 2 0. 0167 GARCH Speci? cation Basic N0 N1 N2 N3 N4GARCH-N GARCH-T GARCH-G TGARCH-N TGARCH-T TGARCH-G EGARCH-N EGARCH-T EG ARCH-G 7,035. 569 7,146. 246 7,163. 378 7,046. 186 7,153. 767 7,168. 421 7,026. 377 7,158. 247 7,168. 083 7,035. 893 7,146. 520 7,165. 204 7,046. 458 7,154. 348 7,170. 701 7,026. 710 7,158. 82 7,170. 554 7,036. 291 7,146. 26 7,163. 645 7,046. 785 7,153. 782 7,168. 730 7,027. 169 7,158. 361 7,168. 641 7,034. 568 7,142. 140 7,159. 647 7,045. 231 7,149. 472 7,164. 399 7,031. 521 7,154. 147 7,164. 628 7,031. 221 7,138. 171 7,156. 706 7,043. 397 7,146. 017 7,162. 170 7,030. 436 7,151. 064 7,163. 104 7,030. 379 ,134. 302 7,152. 533 7,042. 447 7,141. 644 7,157. 886 7,031. 285 7,146. 542 7,159. 008 Table II. Estimated cross-correlations Model Table III. Log likelihood of alternative GARCH speci? cations IMEFM 5,1 32 reduction in stock returns is associated the decrease in stock return by 0. 50 percentage point on average and likewise for the stock market increase. Note that the coef? cient of lagged gold return is negative. This suggests that the gold return tends to exhibit a reversal patt ern and that the long run impact on gold return of stock market variations is even smaller.In order to evaluate the dynamics of gold return during times of consecutive negative market returns, we estimate the chosen GARCH models (Table III) for the consecutive negative returns ranging from one to ? ve days (equation (2)). Results of the estimation are provided in Table IV. Note from the table that there are no changes in the results for the variance equation. Gold return volatility depends mostly on its past volatility and positive shocks tend to propel higher volatility. In the mean equation, we generally observe no level effect of consecutive negative market returns on gold return except for model 3.Similar to the basic model, we note signi? cant positive coef? cient of lagged stock return in all models except one, i. e. model N0. More importantly, there seems to be no changes in the relations between gold and stock returns in times of consecutive negative market returns. The coef ? cients of interactive dummies are all indistinguishable from 0 except one, i. e. the N3 model. In the case of N3 model, the investment role of gold is further enhanced. In responses to four consecutive Estimated coef? cients Mean equation a0 a1 r b10 b11 b20 b21 Variance equation u0 u1 u2 u3 N0 (TARCH) 0. 0000 2 0. 0007 2 0. 315 * 0. 0465 2 0. 0602 0. 0352 0. 0254 N1 (TARCH) 0. 0003 2 0. 0004 2 0. 0320 * 2 0. 0054 0. 0263 0. 0545 * * 2 0. 0114 Model N2 (EGARCH) N3 (EGARCH) N4 (EGARCH) 0. 0004 * * 0. 0001 2 0. 0341 * * 2 0. 0093 0. 0110 0. 0474 * * 0. 0150 0. 0004 * * 2 0. 0025 * * 2 0. 0265 2 0. 0034 2 0. 0979 0. 0549 * 2 0. 2243 * * 0. 0004 * * 2 0. 0008 2 0. 0284 * 2 0. 0036 2 0. 0146 0. 0507 * * 2 0. 2640 0. 000001 * * * 0. 000001 * * * 2 0. 1156 * * * 2 0. 1064 * * * 2 0. 1261 * * * 0. 0809 * * * 0. 0776 * * * 0. 0858 * * * 0. 0830 * * * 0. 0923 * * * 2 0. 0575 * * * 2 0. 0539 * * * 0. 0595 * * * 0. 0603 * * * 0. 0592 * * * . 9402 * * * 0. 9410 * * * 0. 9942 * * * 0. 9950 * * * 0. 9936 * * * Notes: Signi? cant at: *10, * *5 and * * *1 percent, respectively; the estimated models are: Mean equation: RG;t ? a0 ? a1 Nmt ? rRG;t21 ? ?b10 ? b11 Nmt ? ? RS;t ? ?b20 ? b21 Nmt ? ? RS;t21 ? 1t Variance equations: TARCH: Table IV. Estimation results of extended models ht ? u0 ? u1 1221 ? u2 1221 ? I t21 ? u3 ht21 t t GARCH: p log ht ? u0 ? u1 j1t21 = ht21 j ? u2 1t21 =ht21 ? u3 log ht21 negative market returns, current and last three-day returns, the gold market tends to move in the opposite direction of stock market slumps.The coef? cient of interactive dummy-lagged stock return in the N3 model is signi? cantly negative and its magnitude (in absolute term) is substantially higher than the coef? cient of lagged stock return. Thus, there seems to be a movement of the gold market away from downward trend in the stock market. The evidence that we uncover, thus, supports strong resistance of the gold market to stock market downturns. This is in sharp contrast to the we ll-documented ? nding that national stock markets tend to have strong co-movements during times of market decline and turmoil, which limit potential diversi? cation bene? across national stock markets. The heightened reaction of domestic stock markets to downturns in other markets have been documented by Pagan and Soydemir (2001) and Bahng and Shin (2003) for several emerging markets. Moreover, the ? nancial crises are noted to propagate shocks more strongly through the contagion or domino effect (Dornbusch et al. , 2000; Hasman and Samartin, 2008; Markwat et al. , 2009). Thus, a ? ight to other markets for shelter during times of ? nancial crises may not help. In the case of gold investment, its diversi? cation bene? ts are not restrained in times of market downturns.Indeed, there is some evidence that the stock market may surge in value when the stock market posts a negative trend. Conclusion A series of ? nancial crises that erupted in different parts of the world and their accom panying excessive risk have raised serious concern over investment in stock markets and are likely to bring back interest in gold as an alternative investment asset. In light of this, we examine the relation between gold and stock returns and investigate whether it changes during times of consecutive negative market returns for an emerging market, Malaysia.Applying GARCH-type models to daily gold and stock returns over the period August 2001-March 2010, we uncover evidence indicating signi? cant positive relation between gold return and once-lagged stock return. However, the coef? cient of the once-lagged stock return in gold return equation is small and far from unity. We further note that, their relation has not strengthened during times of consecutive days of market declines. To the contrary, we ? nd some evidence that gold return tends to break from its positive relation with stock market return following four consecutive stock market returns. These ? dings are in sharp contrast to the observed strong co-movements among national stock markets in periods of market downturns, which are attributed to contagion or domino effect. Based on these results, we incline to suggest the favorable property of gold as an investment asset for the Malaysian emerging market. At least, gold provides a diversi? cation bene? t to investors in the Malaysian market. The domestic Malaysian gold market tends to have resistance to heightened risk in the stock market as its preserve its low positive relation with stock market variations regardless of the market conditions.At best, with evidence pointing to the negative relation between gold return and stock market return after four consecutive negative market returns, gold tends to possess a hedging property in times of market declines. In short, our results seem to support the initiative by Malaysia in introducing various gold coins, namely Kijang Emas, Royal Mint gold Dinar and Kelantan State gold Dinar, as a vehicle for preservin g wealth in the midst of recurring ? nancial turbulences during the present time. Market risk and gold investment 33 IMEFM 5,1 34 Note 1. Dinar refers to the name of gold coin used in Islamic history.The interest in gold Dinar during the Asian ? nancial crisis is not only limited to its store of value role and its use in international trade settlement but also to the adoption of gold as a payment standard. References Bahng, J. S. and Shin, S. -M. (2003), â€Å"Do stock price indices respond asymmetrically? Evidence from China, Japan, and South Korea†, Journal of Asian Economics, Vol. 14 No. 4, pp. 541-63. Baur, D. G. and Lucey, B. M (2010), â€Å"Is gold a hedge or a safe haven? An analysis of stocks, bonds, and gold†, The Financial Review, Vol. 45 No. 2, pp. 217-29. Baur, D. G. and McDermott, T. K. (2010), â€Å"Is gold a safe haven?International evidence†, Journal of Banking & Finance, Vol. 34 No. 8, pp. 1886-98. Capie, F. , Mills, T. C. and Wood, G. (2005), à ¢â‚¬Å"Gold as a hedge against the dollar†, Journal of International Financial Markets, Institutions and Money, Vol. 15 No. 4, pp. 343-52. Dornbusch, R. , Park, Y. and Claessens, S. (2000), â€Å"Contagion: how it spreads and how it can be stopped†, World Bank Research Observer, Vol. 15 No. 2, pp. 177-97. Hasman, A. and Samartin, M. (2008), â€Å"Information acquisition and ? nancial contagion†, Journal of Banking & Finance, Vol. 32 No. 10, pp. 2136-47. Hillier, D. , Draper, P. and Faff, R. 2006), â€Å"Do precious metals shine? An investment perspective†, Financial Analysts Journal, Vol. 62 No. 2, pp. 98-106. Koutmos, G. and Martin, A. D. (2003), â€Å"Asymmetric exchange rate exposure: theory and evidence†, International Journal of Money and Finance, Vol. 22 No. 3, pp. 365-83. Lobo, B. J. (2000), â€Å"Asymmetric effects of interest rate changes on stock prices†, The Financial Review, Vol. 35 No. 3, pp. 125-44. Markwat, T. , Kole, E. and van Dijk, D. (2009), â€Å"Contagion as a dom? no effect in global stock markets†, Journal of Banking & Finance, Vol. 33 No. 11, pp. 996-2012. Nam, K. , Washer, K. M. and Chu, Q. C. 2005), â€Å"Asymmetric return dynamics and technical trading strategies†, Journal of Banking & Finance, Vol. 29 No. 2, pp. 391-418. (The) News Strait Times (2001), â€Å"Practices in Islamic banking†, News Strait Times, June, p. 26. Pagan, J. A. and Soydemir, G. A. (2001), â€Å"Response asymmetries in the Latin American equity markets†, International Review of Financial Analysis, Vol. 10 No. 2, pp. 175-85. Corresponding author Mansor H. Ibrahim can be contacted at: [email  protected] com To purchase reprints of this article please e-mail: [email  protected] com Or visit our web site for further details: www. emeraldinsight. com/reprints

Pros and Cons of Self-Study Essay

It has recently come up as a controversial issue whether students should study alone or not. Some people stand for the idea that self-study helps them become more independent. Others point out that this way of learning put them in certain difficulties. This essay will give us a chance to discuss the advantages and disadvantages of the issue in more details. On the bright side, the supporters of self-study have a thought that studying alone benefits students in terms of becoming more concentrative as well as more independent. To begin with, it has been proven to be true that self-study helps students find essential silence to get high concentration. As the master of fact, when students study independently, there is no one can disturb them so that they usually focus on their lessons. For example, anyone who study alone at home doesn’t meet friends to talk about irrelevant matters such as an upcoming performance of a rock star that might make students tend to lose their attention. In addition, it is also evident that learners who are self-study, are more independent than others. As far as I am concerned, when nobody can help, it has better to do it myself. For instance, in the face of not understanding their lesson, students learning alone manage to achieve knowledge by themselves through finding source of books in the library or looking up information on the internet. This proves that they are more active in their studying. On the dark side, the opponents of this issue come up with an argument that students are more likely to encounter certain disadvantages when they study independently. These students are not only short of ideas to cope with a big assignment but also find it a bit hard to master their presentation skills without group support. First of all, one’s mind could not think many ideas because of their limited imagination. This causes they always find it difficult to getting on their assignment. To illustrate, if one student could find out three ideas, a group with ten students would increase this figure to thirty. Another point is that learners studying by themselves will probably be lack of presentation skill. Hardly can anybody deny the fact that when learning alone, students cannot practice to present effectively. For example, they do not have anyone who comment or give them advice for their performance. They will not figure out where the problem is to fix it and they have to do everything on their own. In brief, I absolutely agree with the saying: â€Å"every coin has both sides†. Self-study also has its pros and cons. Students should use their way of learning alone as a foundation to launch their group study.

Define and Explain Revolution in Astronomy

Define and Explain Revolution in Astronomy Revolution is an important concept to understand when youre studying the stars. It refers to the movement of a planet around the Sun. All of the planets in our solar system revolve around the sun. The path of the earth around the sun which is one complete cycle of an orbit is approximately 365.2425 days in length. Planetary revolution can sometimes be confused with planetary rotation but they are two separate things. Difference Between Revolution and Rotation While revolution and rotation are similar concepts each is used to describe two different things. Planets, like Earth, revolve or travel around the sun. But the Earth is also spinning on what is called an axis, this rotation is what gives us our night and day cycle. If the Earth didnt spin then only one side of it would face the sun during its revolution. This would make the other side of the Earth very cold as we need the sun for light and heat. This ability to spin on an axis is called rotation. What Is a Terrestrial Year? A full revolution of the Earth around the Sun is known as a terrestrial, or earth year. It takes roughly 365 days for the Earth to complete this revolution. This is what our calendar year is based on.  The Gregorian Calendar is based on the revolution of the earth around the sun to be 365.2425 days in length. The inclusion of a leap year, one where we have an extra day happens every four years to account for the .2425. As Earths orbit changes the length of our years changes as well. These types of changes usually happen over millions of years. Does the Moon Revolve Around Earth? The moon orbits, or revolves, around the Earth. Each planet affects the other one. The moon has some interesting effects on the Earth. Its gravitational pull is responsible for the rise and fall of the tides. Some people believe that the full moon, a stage in the moons revolution, causes humans to act strangely. However, there is no scientific proof to back up the claim that strange things happen during the full moon. Does the Moon Rotate? The moon does not rotate because it is gravitationally locked with the Earth. The moon has synched up with the Earth in such a way that the same side of the moon is always facing the earth. This is why the Moon always looks the same. Its known that at one point the moon did rotate on its own axis. As our gravitational pull on the  moon got stronger the moon stopped rotating. What Is a Galactic Year? The time it takes for the solar system to orbit the center of the Milky Way Galaxy is referred to as a galactic year. Its also known as a cosmic year. There are 225 to 250 Million terrestrial (earth) years in one galactic year. Thats a long trip!

Essay Example on The Oldest Surviving Books in the World

Essay Example on The Oldest Surviving Books in the World Books have been around a long time. They are ways to collect and present information, spread ideas, and to entertain. Despite printers appearing rather recently in our history, books have been made as early as 600 BC. The oldest surviving books are: the Etruscan Gold Book, the Pyrgi Gold Tablets, the Nag Hammadi Library, the St. Cuthbert Gospel, and the Book of Kells. Etruscan Gold Book The oldest surviving book is the Etruscan Gold Book. According to Wigan Lane Books, â€Å"Thought to be the oldest multi-page book in the world, dating to about 660 BC, the Etruscan Gold Book was discovered 70 years ago whilst digging a canal off the Strouma river in Bulgaria. The book is made from 6 sheets of 24 carat gold, bound together with rings. The plates are written in Etruscan characters, and also depicted is a horse, horseman, a Siren, a lyre, and soldiers† (â€Å"10 Of the Oldest Known Surviving Books in the World†). However, with the Etruscan language being obsolete, the exact meaning of its contents cannot be fully deciphered. Pyrgi Gold Tablets The second-oldest surviving book is the Pyrgi Gold Tablets. As stated by AncientPages.com, â€Å"Dating back to 500 B.C., the Pyrgi gold tablets were discovered in 1964 in an excavation of a sanctuary in ancient Pyrgi, the port of the southern Etruscan town of Caere in Italy. What makes the tablets so special is that they are bilingual. Two of the tablets are inscribed in the Etruscan language, [and] the third in Phoenician and are today regarded as the oldest historical source of pre-Roman Italy among the known inscriptions† (â€Å"Pyrgi Gold Tablets: A Rare Ancient Bilingual Treasure†). It provides a dedication to the god Ishtar by King Thefarie Velianas. Nag Hammadi Library Moving on to the third-oldest surviving book, we have the Nag Hammadi Library, which is rather a collection of tomes. According to Wigan Lane Books,†13 leather bound papyrus codices were discovered in 1945 buried inside a sealed jar, by a local man in the town of Nag Hammadi in Upper Egypt. The books, containing Gnostic texts, are dated from around the first half of the 4th century AD. Written in the Coptic language, the codices are thought to have been copied from Greek† (â€Å"10 Of the Oldest Known Surviving Books in the World†). As of now, you can see these books in Cairo, Egypt in the Coptic Museum. The St. Cuthbert Gospel Next we travel to Britain for the fourth-oldest surviving book, known as the St. Cuthbert’s Gospel. As detailed by the British Library, â€Å"A manuscript copy of the Gospel of St John, the St Cuthbert Gospel was produced in the North East of England in the late 7th century and was placed in St Cuthbert’s coffin on Lindisfarne, apparently in 698. The Gospel was found in the saint’s coffin at Durham Cathedral in 1104† (â€Å"British Library Acquires the St Cuthbert Gospel the Earliest Intact European Book†). Surprisingly, it is in excellent condition and very neatly written. Book of Kells Lastly, the fifth-oldest surviving book is the Book of Kells. According to Wigan Lane Books, â€Å"The Book of Kells is kept in the Trinity College Library in Dublin, Ireland, and is thought to have been created by Celtic monks around 800 AD. The book is an incredibly ornate illuminated manuscript Gospel book, written in Latin, containing the four Gospels of the New Testament† (â€Å"10 Of the Oldest Known Surviving Books in the World†). It is considered as Ireland’s finest national treasure. Though many ancient books are now only referred to and are not around anymore, there are some volumes that have survived that are older than Jesus Christ. The oldest available book is Etruscan Gold Book, written around 600 BC. Many of these incredible ancient books are ornate and are religious in nature. Other books that are famed for their age are the Pyrgi Gold Tablets, the Nag Hammadi Library, the St. Cuthbert Gospel, and the Book of Kells. â€Å"10 Of the Oldest Known Surviving Books in the World.† Wigan Lane Books, 21 Apr. 2019, wiganlanebooks.co.uk/blog/interesting/10-of-the-oldest-known-surviving-books-in-the-world/. â€Å"British Library Acquires the St Cuthbert Gospel the Earliest Intact European Book.† The British Library, The British Library, 1 Jan. 1AD, www.bl.uk/press-releases/2012/april/british-library-acquires-the-st-cuthbert-gospelthe-earliest-intact-european-book. â€Å"Pyrgi Gold Tablets: A Rare Ancient Bilingual Treasure.† Ancient Pages, 23 Nov. 2018, www.ancientpages.com/2018/11/23/pyrgi-gold-tablets-a-rare-ancient-bilingual-treasure/.

The Lucky Dragon and the Bikini Atoll Nuclear Test

The Lucky Dragon and the Bikini Atoll Nuclear Test On March 1, 1954, the United States Atomic Energy Commission (AEC) set off a thermonuclear bomb on the Bikini Atoll, part of the Marshall Islands in the equatorial Pacific. The test, called Castle Bravo, was the first of a hydrogen bomb and proved the largest nuclear explosion ever initiated by the United States. In fact, it was much more powerful than American nuclear scientists had predicted. They expected a four- to six-megaton explosion, but it had an actual yield equivalent to more than 15 megatons of TNT. As a result, the effects were much more widespread than predicted. Castle Bravo blew an enormous crater into the Bikini Atoll, still clearly visible in the northwest corner of the atoll on satellite images. It also sprayed radioactive contamination across an enormous area of the Marshall Islands and the Pacific Ocean downwind from the detonation site, as the  fallout map indicated. The AEC had created an exclusion perimeter of 30 nautical miles for U.S. Navy vessels, but the radioactive fallout was dangerously high as far out as 200 miles. The AEC had not warned vessels from other nations to stay out of the exclusion area. Even if it had, that would not have helped the Japanese tuna fishing boat Daigo Fukuryu Maru, or Lucky Dragon 5, which was 90 miles from Bikini at the time of the test. It was the Lucky Dragons very bad fortune on that day to be directly downwind from Castle Bravo. Fallout on the Lucky Dragon At 6:45 a.m. on March 1, the 23 men aboard the Lucky Dragon had their nets deployed and were fishing for tuna. Suddenly, the western sky lit up as a fireball seven kilometers (4.5 miles) in diameter shot up from Bikini Atoll. At 6:53 a.m., the roar of the thermonuclear explosion rocked the Lucky Dragon. Unsure what was happening, the crew from Japan decided to continue fishing. Around 10 a.m., highly radioactive particles of pulverized coral dust began to rain down on the boat. Realizing their peril, the fishermen began to pull in the nets, a process that took several hours. By the time they were ready to leave the area, the Lucky Dragons deck was covered with a thick layer of fallout, which the men cleared away with their bare hands. The Lucky Dragon quickly set off for its home port of Yaizu, Japan. Almost immediately, the crew began to suffer from nausea, headaches, bleeding gums, and eye pain, symptoms of acute radiation poisoning. The fishermen, their catch of tuna, and the Lucky Dragon 5 herself were all severely contaminated. When the crew reached Japan, two top hospitals in Tokyo quickly admitted them for treatment. Japans government contacted the AEC for more information about the test and the fallout, to help with treatment of the poisoned fishermen, but the AEC stonewalled them. In fact, the U.S. government initially denied that the crew had radiation poisoning - a very insulting response to Japans doctors, who knew better than anyone on Earth how radiation poisoning presented in patients, following their experiences with the Hiroshima and Nagasaki atomic bombings less than a decade earlier. On September 23, 1954, after six months of agonizing illness, the Lucky Dragons radio operator Aikichi Kuboyama died at the age of 40. The U.S. government would later pay his widow approximately $2,500 in restitution. Political Fallout The Lucky Dragon Incident, coupled with the atomic bombings of Japans cities in the closing days of World War II, led to a powerful anti-nuclear movement in Japan. Citizens opposed the weapons not only for their capacity to destroy cities  but also for smaller dangers such as the threat of radioactively contaminated fish entering the food market. In the decades since, Japan has been a world leader in calls for disarmament and nuclear non-proliferation, and Japanese citizens turn out in large numbers for memorials and rallies against nuclear weapons to this day. The 2011 ​Fukushima Daiichi nuclear power plant meltdown has re-energized the movement  and helped expand anti-nuclear sentiment against peacetime applications as well as weaponry.

European Sovereign-debt Crisis Research Paper Example | Topics and Well Written Essays - 1500 words

European Sovereign-debt Crisis - Research Paper Example Attempts by international monetary fund (IMF) to avail 750 billion Euros to financially support countries with high debt situation did not mitigate the situation. The paper will, therefore, explore on the causes and evolution of the debt crisis, its impact on the US market, and some interventions undertaken by the US to mitigate the impact. Causes of the Crisis Many factors can be attributed to the crisis that has seen the credit ratings of countries decline and caused shock in the global financial markets. The European Union has been accused of failing to take timely actions and of lingering until the situation ran out of hand. The crisis resulted from a mixture of several complex factors like the globalization of finance, international imbalances in trade, housing bubbles, ease credit conditions between 2002 and 2008 that resulted into high risk lending, and the slow economic growth in the year 2008 (Frangakis, 2006). The factors are elaborated below. a) Increased debt level EU mem bers signed a Maastricht treaty in 1992 where members promised to limit their deficit spending and debt amounts. However, the member countries like Greece and Italy failed to adhere to the agreements of the treaty and instead used complex currency and credit derivatives to increase their debt levels. From the data, the debt levels rose because of the large bailout given to financial sector in the late 2000s and the 2008 economic recession. In 2007, the percentage of fiscal deficit was 0.6 before it rose to 7% during the crisis (Frangakis, 2006). The government debt simultaneously rose to 84% from 66% of the GDP. The crisis can thus be attributed to the inappropriate fiscal policy choices and the actions by the governments to bail out troubled banks. The variations in how different countries used borrowed funds resulted in different effects. Ireland banks, for example, increased their lending to property developers, which later led to the housing bubble. Greece, on the other hand, in creased its pledge to the government workers of salary increment and pension rise. These actions increased the government level of debt, which later made it difficult for the states to meet their obligations as they became due. b) Trade imbalances The crisis grew because of the increasing trade imbalances. An increase in the amounts of trade deficits increases the levels of debt hence increasing the debt crisis. Before the commencement of the debt crisis, the trade deficit of Italy, France, and Greece increased, while that of Germany recorded trade surplus. However, Greece position has improved because of the decline in the imports and increment for exports. c) Loss of confidence Immediately after the crisis developed, it became clear that the bonds of weaker economies like Greece were risky. Because of this loss of confidence, sovereign CDS prices rose to match the market expectation of the increased debt. Investors also doubted the ability of the countries to contain the crisis be cause EU countries have few monetary policy choices. d) Monetary Policy Inflexibility Monetary policy inflexibility of all member states of EU established a common monetary policy and used one currency. Countries were, therefore, unable to print money in order to devalue their currency to stimulate exports and reduce the debt level through trade surpluses. Greece and other member states, therefore, lacked

Creative Writing Assignment Essay Example | Topics and Well Written Essays - 500 words - 1

Creative Writing Assignment - Essay Example Just with any other marriage, his was approved by the committee and certified by the Party. He knew very little about his wife Susan when they got married after Edmond has just turned 25 and she was 22. They seem fit to be wed and that was enough reason to do so. The committee seemed to agree by affirming their union. But what ensued after the marriage was something they did not expect. All their conception about marriage and the relationship between two people does not seem adequate to describe what they have. They have nurtured a trusting acceptance of each other and where sex is deplorable at first, they have grown to enjoy it as much as the company of each other. It was beyond companionship. Susan’s first pregnancy proved difficult which led them to decide to stay at her mother’s house before her due up until the first month after giving birth. Lucy and Edmond knew nothing about childcare. Lucy, Susan’s mother, lives in an old beaten-up yet warm house with a spacious yard. The house is right next to a shop owned by a certain Mr. Charrington. She is a typical matriarch up and about in her house incessantly cooking, washing and sweeping. She takes care of two other grandchildren. She had been a complete delight except for a few stories that she tells about life before the Revolution that even she can’t reconcile. Lucy at times mentions the change in Mr. Charrington since his wife’s death and how his entire business has turned shady. She even told him how she has seen a man peering outside one of the windows. Edmond dismissed all of these with a smile and a few neutral comments he figured could not hurt an old lady. Hi figured his sporadic conversations which at times tend to be subversive is enough trouble for both of them. Lucy constantly cared for them and could not be more pleased to a new addition to the household squeals. He knew he was capable of doublethink and has proved to be a difficult albeit useful

Facebook's IPO Fallout Research Paper Example | Topics and Well Written Essays - 2500 words

Facebook's IPO Fallout - Research Paper Example Even though Google like companies tried to stop Facebook’s progress with the help of Google plus like social networks, such efforts impacted only moderately upon Facebook. â€Å"Between 2009 and 2010, the company's revenue nearly tripled. In the first quarter of this year, revenue climbed 44 percent. In the second quarter, Facebook Inc.'s revenue increased 32 percent to $1.18 billion from $895 million a year earlier† (â€Å"Quarter earnings: Facebook stock crashes†, n.p.) Even though Facebook’s’ progress was untroubled until recent times, some of the most recent reports show that Facebook is facing some severe problems at present. The interests of people in Facebook shares have been diminishing slowly even though the company management is working hard to bring the company back on track. Facebook investor’s concern is about the slow revenue growth of the company in recent times. Even though recession like economic problems was almost over, Fac ebook still shows no signs of revival. Analysts expect lower revenue of $1.16 billion in the fourth quarter of 2012 for Facebook (â€Å"Quarter earnings: Facebook stock crashes†, n.p.). The decline of share value of Facebook has surprised many people. Even though such a decline was expected, nobody thought that it may take place in near future itself. Plenty of reasons were cited for the unexpected and sharp decline of share value of Facebook. This paper analyses some of the major reasons of the decline of the share value of Facebook.... They do believe that the company has cheated them. In short, the reputations of the company are getting damaged as time goes on. Some analysts believe that the macroeconomic conditions in Europe are the reason for the dip in the value of Facebook shares. It is a fact that Europe is currently undergoing through a bad patch. Some of the prominent members of the EU such as Greece, Spain, Italy and Portugal are facing severe economic problems at present. Therefore, the popularity of Facebook like social networks is declining in Europe. However, there is no logic behind blaming Europe alone for the problems facing by Facebook now. In fact Facebook failed change their business strategies based on the changes in the modern world. The most important reason cited by many people for the decline of Facebook share is its failure in concentrating more on mobile advertising. It should be noted that the popularity of smartphones and tablets is growing day by day and many people have already shifted their attention from laptops and desktops to tablets and smartphones for their computing needs. In fact the number of people who access social networks through smartphones and tablets are more or less same with the number of people accessing the same with computers. Facebook failed to forecast this changing trend properly. As a result of that they failed to develop a proper mobile platform for exploiting the possibilities and opportunities. More consumers are using smartphones instead of computers to access Facebook, and the company hasn’t figured out the best way to make money from mobile ads. The result has been a slowdown in the growth rate of advertising revenue: revenue expanded by 36% last quarter, compared with 69% in 2011.New attempts to tap the mobile market are

Computers Essay Example | Topics and Well Written Essays - 250 words - 3

Computers - Essay Example Today, schools, companies, hospitals and factories rely on computers for the various occupational practices. Computers are very essential for scientific research. They open access to many research opportunities. Students can computers to access online journals and books, making it easy to access the information needed. Additionally, the online tutorials and study websites offer explanations on what students and researchers require. On the same note, computers have made it easy for the instructors and the learner to exchange information constantly. Computers have also helped in the communications sector. People use the computers to relay information. Through the internet, people can connect with one another through the computers. The information passes through a very short time. Computers have enhanced efficiency in the information and communication sector, hence reduced time wastage due to immediate feedback. On the opposing side, overdependence on computers has its negative effects which include making people lazy and eliminates the rate at which people think. Additionally, computers pose safety hazards to the users, especially when mishandled. Children use computers to play games, chat and watch movies: this can change their attitudes, reduce reading time and make them intolerant to instructions. They also make people less interactive with others, since they spend several hours on their computers without getting involved in outdoor activities, hence becoming

Reading reflection Assignment Example | Topics and Well Written Essays - 500 words

Reading reflection - Assignment Example Inner speech however may not be an excellent way of learning since the mind might be distracted. As a result of instances of inner speech, the learner shifts the focus from the subject being shared to him hence the learner may not benefit from the inner speech adequately. In reflection No. 2, it is interesting to find out that it is not every question asked that can engage the students in an active way while in class. It is surprising to note that from research, three questions out of five which are asked in class require students to recall learnt data. In addition, out of five questions, the other is a managerial question and only one requires students to think on high levels in their thought processes (Borich, 2013). The statistics are shocking since they punch holes in the other assertions from the book that the thought process is a critical part of the learning process. During such an instance, the students do not learn effectively from the class lessons offered. However, such knowledge provides a chance for teachers to learn and adopt new ways of asking questions the right way to benefit the students. Therefore, whenever asking questions, the teachers should structure them in a way that generates an answer that has been well thought about. The p ractice will lead to actively engaging the thoughts of the students in such a manner that they benefit in the learning process. The use of the correct word choice, tonal variation and emphasis on specific words captivates the mind of the student keeping the mind alert. The main goal of carrying out a dialogue in class in a self-directed learning is to allow students participate in the learning process so as to enable them to understand complex class work content. A teacher achieves the learning objective when the students show gain of knowledge, skills and even develop a

Summaries Essay Example | Topics and Well Written Essays - 500 words - 1

Summaries - Essay Example Among these sources of threats include malicious codes, industrial espionage, malicious hackers, loss of some physical and infrastructural support, incidences of employee sabotage, fraud and theft, errors and omissions, and threats to personal privacy. A computer virus is a code segment that is capable of replicating by possibly attaching copies of it to existing executable files, implying that viruses can exist in a computer without infecting the system; not unless one opens or runs the malicious program. It is majorly spread by sharing of infected files through emails and removable disks. A worm, on the other hand, is a self-replicating program or algorithm which has the capability of creating copies of it and thereafter executing without the requirement of a host program or user interventions. Just like in the case of viruses, worms exploit the use of network services to propagate itself to other hosts systems within the network topology. A Trojan horse is a program which performs a desired task, however, which also includes the unexpected functions. After installation or running of the Trojan horse, it gets activated and starts to alter the desktops by adding ridiculous active desktop icons; deleting files and destroying other information on the systems; and creating backdoor on the computer systems to offer malicious users the easy lee-ways into the system. Its unique feature that explicitly distinguishes it from worms and viruses are that it does not actually replicate/ reproduce by infecting other files. A Blended threat is rather more sophisticated in the sense that it bundles the worst known features or viruses, worms, Trojan horse and malicious codes. For its aided transmission, it can exploit the server and the linked internet vulnerabilities to initiate, and thereafter transmit by spreading its attacks to other various systems interlinked within the network structure. Blended threats are characterized by

Reading reflection Assignment Example | Topics and Well Written Essays - 500 words

Reading reflection - Assignment Example Inner speech however may not be an excellent way of learning since the mind might be distracted. As a result of instances of inner speech, the learner shifts the focus from the subject being shared to him hence the learner may not benefit from the inner speech adequately. In reflection No. 2, it is interesting to find out that it is not every question asked that can engage the students in an active way while in class. It is surprising to note that from research, three questions out of five which are asked in class require students to recall learnt data. In addition, out of five questions, the other is a managerial question and only one requires students to think on high levels in their thought processes (Borich, 2013). The statistics are shocking since they punch holes in the other assertions from the book that the thought process is a critical part of the learning process. During such an instance, the students do not learn effectively from the class lessons offered. However, such knowledge provides a chance for teachers to learn and adopt new ways of asking questions the right way to benefit the students. Therefore, whenever asking questions, the teachers should structure them in a way that generates an answer that has been well thought about. The p ractice will lead to actively engaging the thoughts of the students in such a manner that they benefit in the learning process. The use of the correct word choice, tonal variation and emphasis on specific words captivates the mind of the student keeping the mind alert. The main goal of carrying out a dialogue in class in a self-directed learning is to allow students participate in the learning process so as to enable them to understand complex class work content. A teacher achieves the learning objective when the students show gain of knowledge, skills and even develop a

Positioning and Differentiation Paper - Health Care Marketing Research

Positioning and Differentiation - Health Care Marketing - Research Paper Example The main objective of the paper is to identify the positioning and differentiation strategies of two healthcare organizations i.e. Cascade Valley Hospital & Clinics and Overlake Hospital Medical Center. The study will also endeavor at finding similarities and differentiating aspects between the two healthcare organizations. Differentiation and Positioning Strategies of Overlake Hospital Medical Center Overlake Hospital Medical Center is a nonprofit regional medical centre that provides its patients with highly developed medical related services. The organization is monitored by a Board of Directors. The company has nearly 2500 employees and has nearly 1000 active as well as courtesy physicians as the workforce (Overlake Hospital, 2012). It can be mentioned that innumerable strategies are employed by the healthcare organizations in order to keep themselves competitive. Overlake Hospital Medical Center situated at Belluvue has commenced a cardiac blog. Through this cardiac blog, the or ganization aims at educating the patients regarding the methods through which heart diseases can be prevented (Overlake Hospital, 2012). ... s been created in order to attract, retain and thus ensure that all the parties involved are satisfied with the policies and the strategies of the company. The company has positioned itself as a liaison between nursing, administration along with human resources, foundation and community in order to collectively influence the resources, associations and policies so that Overlake Hospital can be placed as one of the most preferred hospitals/employers in the domestic market as well as abroad. Health Grades have offered Overlake Hospital with five-star designation on numerous grounds. Overlake Hospital offers high quality of care and support to the patients who are suffering from cancer as well as other emergencies. The integrated cancer care team of the hospital generally has one objective which is to offer the patients suffering from cancer with expert care that has been customized to the unique requirements of each of the patients. The trademark of quality care is compassion, skilled care as well as speed at Overlake’s new Emergency & Trauma Center. The unit is considered to be the only Level III trauma centre on the Eastside (KMPG, 2011). It has been observed that the hospital offers care without charge and at reduced rates to the patients who are capable of qualifying for charity care as per the rules and the regulations of the hospital. During the year 2010 and 2011, the cost of charity was nearly US$5561000 and US$4507000 respectively (KMPG, 2011). Overlake Hospital as a part of its differentiation strategy offers care to the Medicaid patients at a price which is quite below the cost of offering the services. The hospital is also involved in numerous other activities in order to maintain competitive advantage. It has been apparent that the company is involved in

Introduction to Business Assignment Essay Example for Free

Introduction to Business Assignment Essay AIM: I have been requested by Peter Eskesen to look at two contrasting business organisations and one of who must operate in the secondary/manufacturing industry and the other corporation must be a service provider from the tertiary sector. I must then look at the activities that each of them fulfil and look at the effectiveness of them within each organisation. I have decided to look at the activities of G. E lighting which is an American company and a direct division of the biggest company in the world G. E and the second company of which I have decided to look at is Sainsburys who is amongst some of the most dominant market leading companies operating in the U. K in the supermarket sector. Both of the companies that I have decided to look at are both owned by shareholders which means that people have bought shares into them. However having said that, as G. E lighting is an American company it means that it will not be listed on the London Stock Exchange but will alternatively be listed upon the New York stock exchange market. If a person wanted to buy shares in GE lighting then they would have to contact a broker. Furthermore, Sainsburys is also a Public Limited Company because it is like before, listed upon the London Stock Exchange. Today General Electric is made up of many departments/divisions. For example G. E Lighting in Enfield is part of a Global Business, which operates in over 100 worldwide countries and also holds work for over 300,000 people worldwide too. Television programming, Plastics and G. E Aircraft Engines for example, is the biggest engine maker and supplier in the world with operations in over 40 different countries. 1 On the next page you will find GEs product portfolio. Sainsburys supermarkets employ over 145,000 people (including Savacentre). Of these 145,000 people, 60% are part time based workers and 40% are full time workers. 62% of the labour forces are women which show that since the 19th Century equal opportunities have shifted and women have the same rights as men to be able to work. Furthermore, Sainsburys Supermarkets serves well over 11 million customers a week and as from May 2003, had 535 stores open throughout the UK. Nearly 60% of their stores are located upon town centres and others built on the edge of centre locations in the greenbelt areas where land is cheaper and have better connections. Like GE, Sainsburys also have sub divisions or Subsidiary companies that they own. For example the other activities that they operate or run besides Groceries, include a chain of Sainsburys Banks, Shaws, JS Development and Sainsburys Property Development. Shaws Supermarkets Inc. has been a completely owned Subsidiary of J Sainsburys plc since 1987 and partly owned since 1983. Shaws serves over four million customers a week, and as at May 2003 had 193 stores open in New England, USA. In June 1999, J Sainsburys plc acquired the entire share capital of Star Markets for a total consideration of $497 million dollars which is the equivalent to i 313 million British pounds. Star Markets operates in the Metropolitan Boston area, Washington DC. The acquisition took Shaws Supermarkets to the number 2 position in New England and as the dominant market leader in Houston, Massachusetts. Like Sainsburys Supermarkets, the US operations place an emphasis on high quality food at value for money prices, and are persistently recuperating and improving their range of fresh foods. The corporation offers approximately 50,000 different lines, up to 35,000 per store at any one time. Some 5,000 popular brand products account for 40 per cent sales and as at June 2003, Shaws employs some 28,400 associates.

Comparing Virginia Woolfs Mrs. Dalloway and Emily Brontes Wuthering H

Comparing Virginia Woolf's Mrs. Dalloway and Emily Bronte's Wuthering Heights Virginia Woolf’s Mrs. Dalloway and Emily Bronte’s Wuthering Heights share similarities in many aspects, perhaps most plainly seen in the plots: just as Clarissa marries Richard rather than Peter Walsh in order to secure a comfortable life for herself, Catherine chooses Edgar Linton over Heathcliff in an attempt to wrest both herself and Heathcliff from the squalid lifestyle of Wuthering Heights. However, these two novels also overlap in thematic elements in that both are concerned with the opposing forces of civilization or order and chaos or madness. The recurring image of the house is an important symbol used to illustrate both authors’ order versus chaos themes. Though Woolf and Bronte use the house as a symbol in very different ways, the existing similarities create striking resonances between the two novels at certain critical scenes. In Mrs. Dalloway, Clarissa Dalloway undergoes an internal struggle between her love for society and life and a combined affinity for and fear of death. Her practical marriage to Richard serves its purpose of providing her with an involved social life of gatherings and parties that others may find frivolous but Clarissa sees as â€Å"an offering† to the life she loves so well. Throughout the novel she grapples with the prospect of growing old and approaching death, which after the joys of her life seems â€Å"unbelievable†¦ that it must end; and no one in the whole world would know how she had loved it all; how, every instant†¦Ã¢â‚¬  At the same time, she is drawn to the very idea of dying, a theme which is most obviously exposed through her reaction to the news of Septimus Smith’s suicide. However, this crucial scene r... ...ng the juxtaposition of order and chaos. The roles that the houses of both stories play in this theme bring to light interesting similarities between the characters and thematic elements as well as revealing differences. Both Woolf and Bronte use the open window as a symbol for the opportunity to see beyond the physical, the ordered, into something less controllable by civilization. However, Catherine seems to be trapped in an unnatural and dangerous cycle of passion and madness that only dissipates after Heathcliff’s death, whereas Clarissa continues with life in society despite her attraction to death and to Septimus. The resonances between the window scenes of these two novels, though simultaneously similar and disparate, shed light on the nature of Clarissa’s and Catherine’s characters as well as on the two authors’ use of the civilization versus wildness theme.

United States Involvement in Haiti :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  We begin our story on December 29th in the year 2000. United States President Bill Clinton sends a letter to Haitian President Jean-Bertrand Aristide, urging him to restore democracy in his country as he had promised before. Clinton has written statements from Aristide assuring that Haiti will take part in a democratic reform in the interest of human rights. In the letter that Bill Clinton sends, he reminds Aristide of the United States’ role in his being brought back into power in 1994. Many republicans thought that President Clinton’s letter was far too polite for the situation at hand.   Ã‚  Ã‚  Ã‚  Ã‚  Aristide had a lot of promises left to be fulfilled. Domestic and foreign policy reforms were yet to be seen. No members of the opposition could be found in his government. His police force and judiciary remained unprofessional. He failed to cooperate with the United States in a campaign against drug trafficking, as he was to allow the Coast Guard to patrol Haitian waters.   Ã‚  Ã‚  Ã‚  Ã‚  Back in Washington, Senator Jesse Helms and Representative Porter J. Goss issued a joint statement: â€Å"Narco traffickers, criminals, and other anti-democratic elements who surround Aristide should feel the full weight of United States law enforcement.† It was of the opinion of the Republicans in America that we end all direct support for the Haitian government. With President Clinton out the door soon in the last few weeks of his term, the Republican Party members were anxious to see the differences the Bush administration would make in this situation.   Ã‚  Ã‚  Ã‚  Ã‚  Fast-forwarding to November of 2003, President George W. Bush gave Aristide a warning. He needed to keep his word and begin some move on reforms. His country was crumbling. Not just in the sense that there was a strong division between Aristide’s government and the opposition leading to violent terrorism throughout Haiti, but more and more of Haiti’s eight million citizens were becoming impoverished, going hungry. Not only that, but the land was physically crumbling – roads were unusable and there was terrible telephone service. There is an indirect relationship between Haitian relations and demonstrations against its government. With less support, there are more attacks, and the Bush administration was not about to step in and help Haiti unless Aristide showed us some results. United States ambassador to Haiti James Foley said, â€Å"If Haiti falls into its historical path of authoritarian government, misrule, and abuse of human rights, its future will be as somber as its past.

7 Proven Pieces of Entrepreneurship Advice for Students

7 Proven Pieces of Entrepreneurship Advice For Students and Interns Right now there are millions of college students sitting in a college class or a dorm room. They are not even realizing that the cost of the school they are at is going to eat away at their budget for years to come. As the student debt and tuition continue to mount, students also have a great deal of benefits that many others didn’t, and therefore these Millennials may be the world’s next biggest entrepreneurs. That’s where the following 7 pieces of entrepreneurship advice come into play. In a world where money makes the world go round, the reason why they are ripe for jumping into these grounds is that they end up working for or interning at tech companies. Many are interested in high tech jobs, but even larger numbers want to do something on their own, and be independent. Not everyone in college today wants that 9 to 5 job after they graduate. These millennials have some incredible ideas, that only get bigger as they go through their college life and gain experience thru internships. There is a lot of advice out there for the Millennials, but honestly, only a few things resonate with some proving grounds. Here are the 7 proven elements that students may want to learn right now which would help them with their entrepreneurship career.Meet New People and Network School is a proving ground where you can meet other people. Don’t let yourself stay in one place and not meet others. Network, talk to others, befriend people and get a mentor. You may find that the people you meet in college are going to stay with you for years, and could help you succeed down the line. The more you can communicate and stay in touch, the better your chances are for getting success after you graduate, as the real world is full of people that â€Å"know someone†, etc.The Opportunity Or The DegreeTake a note from big time basketball players, jump at the chances of a lifetime, don’t stay in school. This may not make your parents happy, but it’s something that you have to think about in the long term. Yes, you could fail in the big leagues, but what if you don’t? You can use your financial status to go back to school and get that degree later. You have an option to get a degree in your lifetime, but you don’t always have a chance at the majors, in tech, or in sports. If you get a once in a lifetime opportunity, take it, don’t sit in school. Degrees don’t mean success, they only prove to an employer that you can learn a particular subject and therefore, it helps, but you can get them when the time is right. Just remember that as entrepreneurship Advice.Eat With Others When You Can Building relationships is tough when you are not around people. Just like the tip above, take time to sit with others including your supervisor and talk to people. If you see someone sitting alone, go talk to them. Ask to sit with them, and just spark a conversation. This is going to be uncomfortable at first glance, but if you keep doing this, you’ll eventually talk to more and more people and you’ll build relationships and network far easier over time just like big companies.Don’t Fear FailureYou’re going to need to take a few risks in your life. That includes college etc. You don’t necessarily need to skip school and risk your life, but there are times when a questionable option could lead you down some great experiences. You may find that if you push the limits a little, you may very well see a great option moving forward for your career path.Look Around and Explore Your AreaDo not stay in one place. Travel as much as you can. If you don’t have a lot of money, that’s ok, travel around your campus, see every part of it, explore and keep going forward. Do not let yourself be isolated and stuck in one area. Learn to walk, learn to talk, and start to explore every nook and cranny of the buildings and offices that are around you. Your actions and attitude including nonverbal communication can have a great influence over your social environment, so be mindful. Also, be aware of your learning style, you will find that this can help you with dating, and networking alike. You will also find niches and hidden areas that you would otherwise not see.Ask Many QuestionsThe biggest thing that entrepreneurs do that others don’t is that they ask questions. You need to ask questions all the time. Whether you’re in class, or you’re in a meeting, if there is an option to ask questions ask them. Even if you know the answer, ask. This helps in two ways. The first is simple, you are going to be remembered. When your professor and those lecturing know your name, they are going to show you favor and will help you out more often than not. The second thing is that you’re going to be able to get clarification and even explore new avenues that others won’t. The more questions you ask, the better you are going to do in school, and in life. Ask questions that others don’t, and you’re going to find that you’ll get valuable answers, every single time.Become The Most Valuable Person (MVP)Whether you’re in an office setting, working with a team, or just trying to get through another class, become helpful. To become an entrepreneur means is to become a servant and understand how to cope with cultural challenges, for example understand British vs. US culture, if you are an international student. As an Entrepreneurship advice, look for ways to help your teacher, students, and even your school. The more you can help, the more you are going to be thought about, and that could lead to offers that others don’t get. Some individuals, for instance, may get called back from an internship to work full time. Others may get work study programs, or offered premium housing because they are helping with certain events, cleaning, and so much more. Your goal is to always be a valuable asset to anyone that is around you, so start in college and you’ll garner a great deal of attention down the line. As you can see, there are 7 major things that you can do as an intern or a student. These will help you gain the upper hand in whatever it is you want to pursue, and will help you succeed in life. Just don’t be stagnant, that’s the worst thing you can end up being whether you’re a student or chasing a career. Are you an entrepreneur at heart and need some inspiration, go ahead and read our site story? If you are worried that you need to survive the University, head over to our site and let our expert writers help you write a top class essay, on time and to the highest possible quality.

Final Team Paper

Business Research Method I Timothy Trautman, Kawaun White, Guillermo Lecca, and Germaine Washington QNT/561 January 15, 2013 Dr. Anthony Matias Abstract The research statement and motivation that will be analyzed is how to recycle at Starbucks in the most cost effective and efficient method. The company is facing multiple challenges but barriers from municipalities and training employees are two of its most difficult challenges. The methodology and research is based on the action research design and will detail how we get our results.The result of our research indicates that recycling will be successful depending on the belief of the employee and customers. The conclusion of the analysis will show that recycling may be a personal preference but if the company can produce data that verifies it’s environmental and financial benefits people may support the idea. Starbucks – Business Research Method I The objective of this analysis is to research a question that applies to a chosen organization.The research will include an explanation of the operational definitions, dependent variables, independent variables, and characteristics specifics to our research. In addition, the analysis will also identify, analyze and research these objectives while conveying how they relate to real life applications. Starbucks will be the focus of the research and the operational dilemma will be recycling and how to implement it as effectively as possible. Organizational Dilemma Research Question Starbucks is a company that believes in the importance of recycling.Although, the process seems to possess a straight forward initiative in reference to recycling, there is a vast amount of material wasted that have some employees disgusted with Starbucks as an organization. â€Å"But while recycling seems like a simple, straightforward initiative, it’s actually extremely challenging. Not only are there municipal barriers to successful recycling in many cities, but it take s significant changes in behavior to get it right. One wrong item in a recycle bin can render the entire can unrecyclable to the hauler. (Starbucks 2012) Research Design In performing research for Starbuck’s recycling efforts, staff members will study a variety of methods that will incorporate information to ensure that the appropriate cycling is performed. The action research design would best describe the type of research to perform for this case study. This type of research design follow a characteristic cycle whereby initially an exploratory stance is adopted, where an understanding of a problem is developed and plans are made for some form of interventionary strategy.Then the intervention is carried out (the action in Action Research) during which time, pertinent observations are collected in various forms (Types of Research Design, 2013). This research will help the staff understand why and how the recycling method for Starbucks could be a good benefit for the company a nd the customers. Characteristics 1. Use for work or community situations. 2. Look to find a solution rather than testing out the main subject of the possible problem. 3.This will show how recycling is well known to use whether on a personal or business level in order to reserve and gain. 4. The researcher will not leave out any information whether bias or not. The type of research utilized allowed the staff of Starbucks will to show customers how recycling is very important to the company and the environment. Expressing the honest beliefs to recycling will let the public see how each cup sold should be recycled and in return the concerns of high pricing for Starbucks items would have the advantage to have a reduction. Dependent variableThe concern of making certain that the correct technique of recycling is taking place, this will involve each person. The research will show dependent variables because every customer will have the initiative to take part in a life-changing event. Ev en if Starbucks makes recycling a requirement to customers, in place of service, the customer still has the right to want to participate. When the process of recycling is in process the location that takes up the bins at that time will have the opportunity to make sure that each item is put into the correct place.Operational definition The data to collect from those customers recycling versus the customers who are not choosing to recycle will lead to a strong belief to Starbuck’s company that those customers who are passionate about the environment may not care to recycle. While there will be the data to collect from the customers that do not have the understanding of how recycling will help high prices for the cup of coffee purchased every morning. Conclusion The researcher for Starbucks should always take into consideration that every customer has his or her own opinion.Whether he or she wants to take a part of making sure that every recyclable item is done properly Starbuc ks is wasting the effort of what the company is doing for the environment. He or she will have to show customers and give more feedback as to why the customer and the company can continue to profit from recycling. References Starbucks (2012). Recycling and reducing waist. Retrieved form: http://www. starbucks. com/responsibility/environment/recycling Types of Research Design. (2013). Retrieved from http://libguides. usc. edu/content. php? pid=83009&sid=818072

The Da Vinci Code Chapter 63-67

CHAPTER 63 Lieutenant Collet stood alone at the foot of Leigh Teabing's driveway and gazed up at the massive house. Isolated.Dark.Good ground cover.Collet watched his half-dozen agents spreading silently out along the length of the fence. They could be over it and have the house surrounded in a matter of minutes. Langdon could not have chosen a more ideal spot for Collet's men to make a surprise assault. Collet was about to call Fache himself when at last his phone rang. Fache sounded not nearly as pleased with the developments as Collet would have imagined. â€Å"Why didn't someone tell me we had a lead on Langdon?† â€Å"You were on a phone call and – â€Å" â€Å"Where exactly are you, Lieutenant Collet?† Collet gave him the address. â€Å"The estate belongs to a British national named Teabing. Langdon drove a fair distance to get here, and the vehicle is inside the security gate, with no signs of forced entry, so chances are good that Langdon knows the occupant.† â€Å"I'm coming out,† Fache said. â€Å"Don't make a move. I'll handle this personally.† Collet's jaw dropped. â€Å"But Captain, you're twenty minutes away! We should act immediately. I have him staked out. I'm with eight men total. Four of us have field rifles and the others have side arms.† â€Å"Wait for me.† â€Å"Captain, what if Langdon has a hostage in there? What if he sees us and decides to leave on foot? We need to move now! My men are in position and ready to go.† â€Å"Lieutenant Collet, you will wait for me to arrive before taking action. That is an order.† Fache hung up. Stunned, Lieutenant Collet switched off his phone. Why the hell is Fache asking me to wait? Collet knew the answer. Fache, though famous for his instinct, was notorious for his pride. Fache wants credit for the arrest.After putting the American's face all over the television, Fache wanted to be sure his own face got equal time. Collet's job was simply to hold down the fort until the boss showed up to save the day. As he stood there, Collet flashed on a second possible explanation for this delay. Damage control. In law enforcement, hesitating to arrest a fugitive only occurred when uncertainty had arisen regarding the suspect's guilt. Is Fache having second thoughts that Langdon is the right man? The thought was frightening. Captain Fache had gone out on a limb tonight to arrest Robert Langdon – surveillance cachee, Interpol, and now television. Not even the great Bezu Fache would survive the political fallout if he had mistakenly splashed a prominent American's face all over French television, claiming he was a murderer. If Fache now realized he'd made a mistake, then it made perfect sense that he would tell Collet not to make a move. The last thing Fache needed was for Collet to storm an innocent Brit's private estate and take Langdon at gunpoint. Moreover, Collet realized, if Langdon were innocent, it explained one of this case's strangest paradoxes: Why had Sophie Neveu, the granddaughter of the victim, helped the alleged killer escape? Unless Sophie knew Langdon was falsely charged. Fache had posited all kinds of explanations tonight to explain Sophie's odd behavior, including that Sophie, as Sauniere's sole heir, had persuaded her secret lover Robert Langdon to kill off Sauniere for the inheritance money. Sauniere, if he had suspected this, might have left the police the message P. S.Find RobertLangdon.Collet was fairly certain something else was going on here. Sophie Neveu seemed far too solid of character to be mixed up in something that sordid. â€Å"Lieutenant?† One of the field agents came running over. â€Å"We found a car.† Collet followed the agent about fifty yards past the driveway. The agent pointed to a wide shoulder on the opposite side of the road. There, parked in the brush, almost out of sight, was a black Audi. It had rental plates. Collet felt the hood. Still warm. Hot even. â€Å"That must be how Langdon got here,† Collet said. â€Å"Call the rental company. Find out if it's stolen.† â€Å"Yes, sir.† Another agent waved Collet back over in the direction of the fence. â€Å"Lieutenant, have a look at this.† He handed Collet a pair of night vision binoculars. â€Å"The grove of trees near the top of the driveway.† Collet aimed the binoculars up the hill and adjusted the image intensifier dials. Slowly, the greenish shapes came into focus. He located the curve of the driveway and slowly followed it up, reaching the grove of trees. All he could do was stare. There, shrouded in the greenery, was an armored truck. A truck identical to the one Collet had permitted to leave the Depository Bank of Zurich earlier tonight. He prayed this was some kind of bizarre coincidence, but he knew it could not be. â€Å"It seems obvious,† the agent said,† that this truck is how Langdon and Neveu got away from the bank.† Collet was speechless. He thought of the armored truck driver he had stopped at the roadblock. The Rolex. His impatience to leave. I never checked the cargo hold. Incredulous, Collet realized that someone in the bank had actually lied to DCPJ about Langdon and Sophie's whereabouts and then helped them escape. But who? And why? Collet wondered if maybe this were the reason Fache had told him not to take action yet. Maybe Fache realized there were more people involved tonight than just Langdon and Sophie. And if Langdon and Neveu arrived inthe armored truck, then who drove the Audi? Hundreds of miles to the south, a chartered Beechcraft Baron 58 raced northward over the Tyrrhenian Sea. Despite calm skies, Bishop Aringarosa clutched an airsickness bag, certain he could be ill at any moment. His conversation with Paris had not at all been what he had imagined. Alone in the small cabin, Aringarosa twisted the gold ring on his finger and tried to ease his overwhelming sense of fear and desperation. Everything in Paris has gone terribly wrong.Closing his eyes, Aringarosa said a prayer that Bezu Fache would have the means to fix it. CHAPTER 64 Teabing sat on the divan, cradling the wooden box on his lap and admiring the lid's intricate inlaid Rose. Tonight has become the strangest and most magical night of my life. â€Å"Lift the lid,† Sophie whispered, standing over him, beside Langdon. Teabing smiled. Do not rush me.Having spent over a decade searching for this keystone, he wanted to savor every millisecond of this moment. He ran a palm across the wooden lid, feeling the texture of the inlaid flower. â€Å"The Rose,† he whispered. The Rose is Magdalene is the Holy Grail.The Rose is the compass that guides the way.Teabing felt foolish. For years he had traveled to cathedrals and churches all over France, paying for special access, examining hundreds of archways beneath rose windows, searching for an encrypted keystone. La clef de voute – a stone key beneath the sign of the Rose. Teabing slowly unlatched the lid and raised it. As his eyes finally gazed upon the contents, he knew in an instant it could only be the keystone. He was staring at a stone cylinder, crafted of interconnecting lettered dials. The device seemed surprisingly familiar to him. â€Å"Designed from Da Vinci's diaries,† Sophie said. â€Å"My grandfather made them as a hobby.† Of course, Teabing realized. He had seen the sketches and blueprints. The key to finding the Holy Grail lies inside this stone.Teabing lifted the heavy cryptex from the box, holding it gently. Although he had no idea how to open the cylinder, he sensed his own destiny lay inside. In moments of failure, Teabing had questioned whether his life's quest would ever be rewarded. Now those doubts were gone forever. He could hear the ancient words†¦ the foundation of the Grail legend: Vous ne trouvez pas le Saint-Graal, c'est le Saint-Graal qui vous trouve. You do not find the Grail, the Grail finds you. And tonight, incredibly, the key to finding the Holy Grail had walked right through his front door. While Sophie and Teabing sat with the cryptex and talked about the vinegar, the dials, and what the password might be, Langdon carried the rosewood box across the room to a well-lit table to get a better look at it. Something Teabing had just said was now running through Langdon's mind. The key to the Grail is hidden beneath the sign of the Rose. Langdon held the wooden box up to the light and examined the inlaid symbol of the Rose. Although his familiarity with art did not include woodworking or inlaid furniture, he had just recalled the famous tiled ceiling of the Spanish monastery outside of Madrid, where, three centuries after its construction, the ceiling tiles began to fall out, revealing sacred texts scrawled by monks on the plaster beneath. Langdon looked again at the Rose. Beneath the Rose. Sub Rosa. Secret. A bump in the hallway behind him made Langdon turn. He saw nothing but shadows. Teabing's manservant most likely had passed through. Langdon turned back to the box. He ran his finger over the smooth edge of the inlay, wondering if he could pry the Rose out, but the craftsmanship was perfect. He doubted even a razor blade could fit in between the inlaid Rose and the carefully carved depression into which it was seated. Opening the box, he examined the inside of the lid. It was smooth. As he shifted its position, though, the light caught what appeared to be a small hole on the underside of the lid, positioned in the exact center. Langdon closed the lid and examined the inlaid symbol from the top. No hole. It doesn't pass through. Setting the box on the table, he looked around the room and spied a stack of papers with a paper clip on it. Borrowing the clip, he returned to the box, opened it, and studied the hole again. Carefully, he unbent the paper clip and inserted one end into the hole. He gave a gentle push. It took almost no effort. He heard something clatter quietly onto the table. Langdon closed the lid to look. It was a small piece of wood, like a puzzle piece. The wooden Rose had popped out of the lid and fallen onto the desk. Speechless, Langdon stared at the bare spot on the lid where the Rose had been. There, engraved in the wood, written in an immaculate hand, were four lines of text in a language he had never seen. The characters look vaguely Semitic, Langdon thought to himself, and yet I don't recognize the language! A sudden movement behind him caught his attention. Out of nowhere, a crushing blow to the head knocked Langdon to his knees. As he fell, he thought for a moment he saw a pale ghost hovering over him, clutching a gun. Then everything went black. CHAPTER 65 Sophie Neveu, despite working in law enforcement, had never found herself at gunpoint until tonight. Almost inconceivably, the gun into which she was now staring was clutched in the pale hand of an enormous albino with long white hair. He looked at her with red eyes that radiated a frightening, disembodied quality. Dressed in a wool robe with a rope tie, he resembled a medieval cleric. Sophie could not imagine who he was, and yet she was feeling a sudden newfound respect for Teabing's suspicions that the Church was behind this. â€Å"You know what I have come for,† the monk said, his voice hollow. Sophie and Teabing were seated on the divan, arms raised as their attacker had commanded. Langdon lay groaning on the floor. The monk's eyes fell immediately to the keystone on Teabing's lap. Teabing's tone was defiant. â€Å"You will not be able to open it.† â€Å"My Teacher is very wise,† the monk replied, inching closer, the gun shifting between Teabing and Sophie. Sophie wondered where Teabing's manservant was. Didn't he hear Robert fall? â€Å"Who is your teacher?† Teabing asked. â€Å"Perhaps we can make a financial arrangement.† â€Å"The Grail is priceless.† He moved closer.† You're bleeding,† Teabing noted calmly, nodding to the monk's right ankle where a trickle of blood had run down his leg. â€Å"And you're limping.† â€Å"As do you,† the monk replied, motioning to the metal crutches propped beside Teabing. â€Å"Now, hand me the keystone.† â€Å"You know of the keystone?† Teabing said, sounding surprised. â€Å"Never mind what I know. Stand up slowly, and give it to me.† â€Å"Standing is difficult for me.† â€Å"Precisely. I would prefer nobody attempt any quick moves.† Teabing slipped his right hand through one of his crutches and grasped the keystone in his left. Lurching to his feet, he stood erect, palming the heavy cylinder in his left hand, and leaning unsteadily on his crutch with his right. The monk closed to within a few feet, keeping the gun aimed directly at Teabing's head. Sophie watched, feeling helpless as the monk reached out to take the cylinder. â€Å"You will not succeed,† Teabing said. â€Å"Only the worthy can unlock this stone.† God alone judges the worthy, Silas thought. â€Å"It's quite heavy,† the man on crutches said, his arm wavering now. â€Å"If you don't take it soon, I'm afraid I shall drop it!† He swayed perilously. Silas stepped quickly forward to take the stone, and as he did, the man on crutches lost his balance. The crutch slid out from under him, and he began to topple sideways to his right. No! Silas lunged to save the stone, lowering his weapon in the process. But the keystone was moving away from him now. As the man fell to his right, his left hand swung backward, and the cylinder tumbled from his palm onto the couch. At the same instant, the metal crutch that had been sliding out from under the man seemed to accelerate, cutting a wide arc through the air toward Silas's leg. Splinters of pain tore up Silas's body as the crutch made perfect contact with his cilice, crushing the barbs into his already raw flesh. Buckling, Silas crumpled to his knees, causing the belt to cut deeper still. The pistol discharged with a deafening roar, the bullet burying itself harmlessly in the floorboards as Silas fell. Before he could raise the gun and fire again, the woman's foot caught him square beneath the jaw. At the bottom of the driveway, Collet heard the gunshot. The muffled pop sent panic through his veins. With Fache on the way, Collet had already relinquished any hopes of claiming personal credit for finding Langdon tonight. But Collet would be damned if Fache's ego landed him in front of a Ministerial Review Board for negligent police procedure. A weapon was discharged inside a private home! And you waited at the bottom of the driveway? Collet knew the opportunity for a stealth approach had long since passed. He also knew if he stood idly by for another second, his entire career would be history by morning. Eyeing the estate's iron gate, he made his decision. â€Å"Tie on, and pull it down.† In the distant recesses of his groggy mind, Robert Langdon had heard the gunshot. He'd also heard a scream of pain. His own? A jackhammer was boring a hole into the back of his cranium. Somewhere nearby, people were talking. â€Å"Where the devil were you?† Teabing was yelling. The manservant hurried in. â€Å"What happened? Oh my God! Who is that? I'll call the police!† â€Å"Bloody hell! Don't call the police. Make yourself useful and get us something with which to restrain this monster.† â€Å"And some ice!† Sophie called after him. Langdon drifted out again. More voices. Movement. Now he was seated on the divan. Sophie was holding an ice pack to his head. His skull ached. As Langdon's vision finally began to clear, he found himself staring at a body on the floor. Am I hallucinating? The massive body of an albino monk lay bound and gagged with duct tape. His chin was split open, and the robe over his right thigh was soaked with blood. He too appeared to be just now coming to. Langdon turned to Sophie. â€Å"Who is that? What†¦ happened?† Teabing hobbled over. â€Å"You were rescued by a knight brandishing an Excalibur made by Acme Orthopedic.† Huh? Langdon tried to sit up. Sophie's touch was shaken but tender. â€Å"Just give yourself a minute, Robert.† â€Å"I fear,† Teabing said,† that I've just demonstrated for your lady friend the unfortunate benefit of my condition. It seems everyone underestimates you.† From his seat on the divan, Langdon gazed down at the monk and tried to imagine what had happened. â€Å"He was wearing a cilice,†Teabing explained. â€Å"A what?† Teabing pointed to a bloody strip of barbed leather that lay on the floor. â€Å"A Discipline belt. He wore it on his thigh. I took careful aim.† Langdon rubbed his head. He knew of Discipline belts. â€Å"But how†¦ did you know?† Teabing grinned. â€Å"Christianity is my field of study, Robert, and there are certain sects who wear their hearts on their sleeves.† He pointed his crutch at the blood soaking through the monk's cloak. â€Å"As it were.† â€Å"Opus Dei,† Langdon whispered, recalling recent media coverage of several prominent Boston businessmen who were members of Opus Dei. Apprehensive coworkers had falsely and publicly accused the men of wearing Discipline belts beneath their three-piece suits. In fact, the three men did no such thing. Like many members of Opus Dei, these businessmen were at the† supernumerary† stage and practiced no corporal mortification at all. They were devout Catholics, caring fathers to their children, and deeply dedicated members of the community. Not surprisingly, the media spotlighted their spiritual commitment only briefly before moving on to the shock value of the sect's more stringent† numerary† members†¦ members like the monk now lying on the floor before Langdon. Teabing was looking closely at the bloody belt. â€Å"But why would Opus Dei be trying to find the Holy Grail?† Langdon was too groggy to consider it. â€Å"Robert,† Sophie said, walking to the wooden box. â€Å"What's this?† She was holding the small Rose inlay he had removed from the lid.† It covered an engraving on the box. I think the text might tell us how to open the keystone.† Before Sophie and Teabing could respond, a sea of blue police lights and sirens erupted at thebottom of the hill and began snaking up the half-mile driveway. Teabing frowned. â€Å"My friends, it seems we have a decision to make. And we'd better make it fast.† CHAPTER 66 Collet and his agents burst through the front door of Sir Leigh Teabing's estate with their guns drawn. Fanning out, they began searching all the rooms on the first level. They found a bullet hole in the drawing room floor, signs of a struggle, a small amount of blood, a strange, barbed leather belt, and a partially used roll of duct tape. The entire level seemed deserted. Just as Collet was about to divide his men to search the basement and grounds behind the house, he heard voices on the level above them. â€Å"They're upstairs!† Rushing up the wide staircase, Collet and his men moved room by room through the huge home, securing darkened bedrooms and hallways as they closed in on the sounds of voices. The sound seemed to be coming from the last bedroom on an exceptionally long hallway. The agents inched down the corridor, sealing off alternate exits. As they neared the final bedroom, Collet could see the door was wide open. The voices had stopped suddenly, and had been replaced by an odd rumbling, like an engine. Sidearm raised, Collet gave the signal. Reaching silently around the door frame, he found the light switch and flicked it on. Spinning into the room with men pouring in after him, Collet shouted and aimed his weapon at†¦ nothing. An empty guest bedroom. Pristine. The rumbling sounds of an automobile engine poured from a black electronic panel on the wall beside the bed. Collet had seen these elsewhere in the house. Some kind of intercom system. He raced over. The panel had about a dozen labeled buttons: STUDY†¦ KITCHEN†¦ LAUNDRY†¦ CELLAR†¦ So where the hell do I hear a car? MASTER BEDROOM†¦ SUN ROOM†¦ BARN†¦ LIBRARY†¦ Barn! Collet was downstairs in seconds, running toward the back door, grabbing one of his agents on the way. The men crossed the rear lawn and arrived breathless at the front of a weathered gray barn. Even before they entered, Collet could hear the fading sounds of a car engine. He drew his weapon, rushed in, and flicked on the lights. The right side of the barn was a rudimentary workshop – lawn-mowers, automotive tools, gardening supplies. A familiar intercom panel hung on the wall nearby. One of its buttons was flipped down, transmitting. GUEST BEDROOM II. Collet wheeled, anger brimming. They lured us upstairs with the intercom! Searching the other side of the barn, he found a long line of horse stalls. No horses. Apparently the owner preferred a different kind of horsepower; the stalls had been converted into an impressive automotive parking facility. The collection was astonishing – a black Ferrari, a pristine Rolls-Royce, an antique Astin Martin sports coupe, a vintage Porsche 356. The last stall was empty. Collet ran over and saw oil stains on the stall floor. They can't get off the compound.The driveway and gate were barricaded with two patrol cars to prevent this very situation. â€Å"Sir?† The agent pointed down the length of the stalls. The barn's rear slider was wide open, giving way to a dark, muddy slope of rugged fields that stretched out into the night behind the barn. Collet ran to the door, trying to see out into the darkness. All he could make out was the faint shadow of a forest in the distance. No headlights. This wooded valley was probably crisscrossed by dozens of unmapped fire roads and hunting trails, but Collet was confident his quarry would never make the woods. â€Å"Get some men spread out down there. They're probably already stuck somewhere nearby. These fancy sports cars can't handle terrain.† â€Å"Um, sir?† The agent pointed to a nearby pegboard on which hung several sets of keys. The labels above the keys bore familiar names. DAIMLER†¦ ROLLS-ROYCE†¦ ASTIN MARTIN†¦ PORSCHE†¦ The last peg was empty. When Collet read the label above the empty peg, he knew he was in trouble. CHAPTER 67 The Range Rover was Java Black Pearl, four-wheel drive, standard transmission, with high- strength polypropylene lamps, rear light cluster fittings, and the steering wheel on the right. Langdon was pleased he was not driving. Teabing's manservant Remy, on orders from his master, was doing an impressive job of maneuvering the vehicle across the moonlit fields behind Chateau Villette. With no headlights, he had crossed an open knoll and was now descending a long slope, moving farther away from the estate. He seemed to be heading toward a jagged silhouette of wooded land in the distance. Langdon, cradling the keystone, turned in the passenger seat and eyed Teabing and Sophie in the back seat. â€Å"How's your head, Robert?† Sophie asked, sounding concerned. Langdon forced a pained smile. â€Å"Better, thanks.† It was killing him. Beside her, Teabing glanced over his shoulder at the bound and gagged monk lying in the cramped luggage area behind the back seat. Teabing had the monk's gun on his lap and looked like an old photo of a British safari chap posing over his kill. â€Å"So glad you popped in this evening, Robert,† Teabing said, grinning as if he were having fun for the first time in years. â€Å"Sorry to get you involved in this, Leigh.† â€Å"Oh, please, I've waited my entire life to be involved.† Teabing looked past Langdon out the windshield at the shadow of a long hedgerow. He tapped Remy on the shoulder from behind.† Remember, no brake lights. Use the emergency brake if you need it. I want to get into the woods a bit. No reason to risk them seeing us from the house.† Remy coasted to a crawl and guided the Range Rover through an opening in the hedge. As the vehicle lurched onto an overgrown pathway, almost immediately the trees overhead blotted out the moonlight. I can't see a thing, Langdon thought, straining to distinguish any shapes at all in front of them. It was pitch black. Branches rubbed against the left side of the vehicle, and Remy corrected in the other direction. Keeping the wheel more or less straight now, he inched ahead about thirty yards. â€Å"You're doing beautifully, Remy,† Teabing said. â€Å"That should be far enough. Robert, if you could press that little blue button just below the vent there. See it?† Langdon found the button and pressed it. A muted yellow glow fanned out across the path in front of them, revealing thick underbrush on either side of the pathway. Fog lights, Langdon realized. They gave off just enough light to keep them on the path, and yet they were deep enough into the woods now that the lights would not give them away. â€Å"Well, Remy,† Teabing chimed happily. â€Å"The lights are on. Our lives are in your hands.† â€Å"Where are we going?† Sophie asked.† This trail continues about three kilometers into the forest,† Teabing said. â€Å"Cutting across the estate and then arching north. Provided we don't hit any standing water or fallen trees, we shall emerge unscathed on the shoulder of highway five.† Unscathed.Langdon's head begged to differ. He turned his eyes down to his own lap, where the keystone was safely stowed in its wooden box. The inlaid Rose on the lid was back in place, and although his head felt muddled, Langdon was eager to remove the inlay again and examine the engraving beneath more closely. He unlatched the lid and began to raise it when Teabing laid a hand on his shoulder from behind. â€Å"Patience, Robert,† Teabing said. â€Å"It's bumpy and dark. God save us if we break anything. If you didn't recognize the language in the light, you won't do any better in the dark. Let's focus on getting away in one piece, shall we? There will be time for that very soon.† Langdon knew Teabing was right. With a nod, he relatched the box. The monk in back was moaning now, struggling against his trusses. Suddenly, he began kicking wildly. Teabing spun around and aimed the pistol over the seat. â€Å"I can't imagine your complaint, sir. You trespassed in my home and planted a nasty welt on the skull of a dear friend. I would be well within my rights to shoot you right now and leave you to rot in the woods.† The monk fell silent.† Are you sure we should have brought him?† Langdon asked. â€Å"Bloody well positive!† Teabing exclaimed. â€Å"You're wanted for murder, Robert. This scoundrel is your ticket to freedom. The police apparently want you badly enough to have tailed you to my home.† â€Å"My fault,† Sophie said. â€Å"The armored car probably had a transmitter.† â€Å"Not the point,† Teabing said. â€Å"I'm not surprised the police found you, but I am surprised that this Opus Dei character found you. From all you've told me, I can't imagine how this man could have tailed you to my home unless he had a contact either within the Judicial Police or within the Zurich Depository.† Langdon considered it. Bezu Fache certainly seemed intent on finding a scapegoat for tonight's murders. And Vernet had turned on them rather suddenly, although considering Langdon was being charged with four murders, the banker's change of heart seemed understandable. â€Å"This monk is not working alone, Robert,† Teabing said,† and until you learn who is behind all this, you both are in danger. The good news, my friend, is that you are now in the position of power. This monster behind me holds that information, and whoever is pulling his strings has got to be quite nervous right now.† Remy was picking up speed, getting comfortable with the trail. They splashed through some water, climbed a small rise, and began descending again. â€Å"Robert, could you be so kind as to hand me that phone?† Teabing pointed to the car phone on the dash. Langdon handed it back, and Teabing dialed a number. He waited for a very long time before someone answered. â€Å"Richard? Did I wake you? Of course, I did. Silly question. I'm sorry. I have a small problem. I'm feeling a bit off. Remy and I need to pop up to the Isles for my treatments. Well, right away, actually. Sorry for the short notice. Can you have Elizabeth ready in about twenty minutes? I know, do the best you can. See you shortly.† He hung up. â€Å"Elizabeth?† Langdon said. â€Å"My plane. She cost me a Queen's ransom.† Langdon turned full around and looked at him.† What?† Teabing demanded. â€Å"You two can't expect to stay in France with the entire Judicial Police after you. London will be much safer.† Sophie had turned to Teabing as well. â€Å"You think we should leave the country?† â€Å"My friends, I am far more influential in the civilized world than here in France. Furthermore, the Grail is believed to be in Great Britain. If we unlock the keystone, I am certain we will discover a map that indicates we have moved in the proper direction.† â€Å"You're running a big risk,† Sophie said,† by helping us. You won't make any friends with the French police.† Teabing gave a wave of disgust. â€Å"I am finished with France. I moved here to find the keystone. That work is now done. I shan't care if I ever again see Chateau Villette.† Sophie sounded uncertain. â€Å"How will we get through airport security?† Teabing chuckled. â€Å"I fly from Le Bourget – an executive airfield not far from here. French doctors make me nervous, so every fortnight, I fly north to take my treatments in England. I pay for certain special privileges at both ends. Once we're airborne, you can make a decision as to whether or not you'd like someone from the U. S. Embassy to meet us.† Langdon suddenly didn't want anything to do with the embassy. All he could think of was the keystone, the inscription, and whether it would all lead to the Grail. He wondered if Teabing was right about Britain. Admittedly most modern legends placed the Grail somewhere in the United Kingdom. Even King Arthur's mythical, Grail-rich Isle of Avalon was now believed to be none other than Glastonbury, England. Wherever the Grail lay, Langdon never imagined he would actually be looking for it. The Sangreal documents.The true history of Jesus Christ.The tomb of Mary Magdalene.He suddenly felt as if he were living in some kind of limbo tonight†¦ a bubble where the real world could not reach him. â€Å"Sir?† Remy said. â€Å"Are you truly thinking of returning to England for good?† â€Å"Remy, you needn't worry,† Teabing assured. â€Å"Just because I am returning to the Queen's realm does not mean I intend to subject my palate to bangers and mash for the rest of my days. I expect you will join me there permanently. I'm planning to buy a splendid villa in Devonshire, and we'll have all your things shipped up immediately. An adventure, Remy. I say, an adventure!† Langdon had to smile. As Teabing railed on about his plans for a triumphant return to Britain, Langdon felt himself caught up in the man's infectious enthusiasm. Gazing absently out the window, Langdon watched the woods passing by, ghostly pale in the yellow blush of the fog lights. The side mirror was tipped inward, brushed askew by branches, and Langdon saw the reflection of Sophie sitting quietly in the back seat. He watched her for a long while and felt an unexpected upwelling of contentment. Despite his troubles tonight, Langdon was thankful to have landed in such good company. After several minutes, as if suddenly sensing his eyes on her, Sophie leaned forward and put her hands on his shoulders, giving him a quick rub. â€Å"You okay?† â€Å"Yeah,† Langdon said. â€Å"Somehow.† Sophie sat back in her seat, and Langdon saw a quiet smile cross her lips. He realized that he too was now grinning. Wedged in the back of the Range Rover, Silas could barely breathe. His arms were wrenched backward and heavily lashed to his ankles with kitchen twine and duct tape. Every bump in the road sent pain shooting through his twisted shoulders. At least his captors had removed the cilice. Unable to inhale through the strip of tape over his mouth, he could only breathe through his nostrils, which were slowly clogging up due to the dusty rear cargo area into which he had been crammed. He began coughing. â€Å"I think he's choking,† the French driver said, sounding concerned. The British man who had struck Silas with his crutch now turned and peered over the seat, frowning coldly at Silas. â€Å"Fortunately for you, we British judge man's civility not by his compassion for his friends, but by his compassion for his enemies.† The Brit reached down and grabbed the duct tape on Silas's mouth. In one fast motion, he tore it off. Silas felt as if his lips had just caught fire, but the air pouring into his lungs was sent from God. â€Å"Whom do you work for?† the British man demanded.† I do the work of God,† Silas spat back through the pain in his jaw where the woman had kicked him. â€Å"You belong to Opus Dei,† the man said. It was not a question. â€Å"You know nothing of who I am.† â€Å"Why does Opus Dei want the keystone?† Silas had no intention of answering. The keystone was the link to the Holy Grail, and the Holy Grail was the key to protecting the faith. I do the work of God. The Way is in peril. Now, in the Range Rover, struggling against his bonds, Silas feared he had failed the Teacher and the bishop forever. He had no way even to contact them and tell them the terrible turn of events. My captors have the keystone! They will reach the Grail before we do! In the stifling darkness, Silas prayed. He let the pain of his body fuel his supplications. A miracle, Lord.I need a miracle.Silas had no way of knowing that hours from now, he would get one. â€Å"Robert?† Sophie was still watching him. â€Å"A funny look just crossed your face.† Langdon glanced back at her, realizing his jaw was firmly set and his heart was racing. An incredible notion had just occurred to him. Could it really be that simple an explanation?† I need to use your cell phone, Sophie.† â€Å"Now?† â€Å"I think I just figured something out.† â€Å"What?† â€Å"I'll tell you in a minute. I need your phone.† Sophie looked wary. â€Å"I doubt Fache is tracing, but keep it under a minute just in case.† She gave him her phone. â€Å"How do I dial the States?† â€Å"You need to reverse the charges. My service doesn't cover transatlantic.† Langdon dialed zero, knowing that the next sixty seconds might answer a question that had been puzzling him all night.