History of Costa Rica :: Culture Cultural History Essays

History of Costa Rica Human residence can be followed back over 10,000 years yet it shows up Costa Rica was meagerly populated and a relative backwater in the pre-Columbian time. There is minimal indication of significant networks and none of the great stone engineering that portrayed the further developed human advancements of Mesoamerica toward the north and the Andes toward the south. At the point when Columbus showed up close Lim⠢â ¢n on September 18, 1502 on his third and last journey to the Americas, there were most likely close to 20,000 indigenous occupants They lived in a few self-governing clans, all with particular societies and customs. Costa Rica's just major archeological site is at Guayabo, 30 miles east of San Jos‚‚, where an old city, going back to 1000 B.C. what's more, however to have contained 10,000 individuals at its pinnacle, is as of now being unearthed. Many intriguing gold, jade and earthenware ancient rarities have been found all through the locale and are in pla in view in a few historical centers in San Jose. The Indians gave Columbus gold and he came back to Europe with reports of an abundant gracefully of the yellow metal. In any case, the travelers who showed up to trade out discovered just unfriendly Indians, marshes and infection for their difficulty. A few early endeavors to colonize the Atlantic coast fizzled for similar reasons and for practically 50 years Costa Rica was ignored while colonization accumulated pace in nations toward the north and south. In 1562, the Spanish principle's regulatory focus in Guatemala sent Juan Vasquez de Coronado to Costa Rica as representative and Cartago was built up as the capital the next year. With no Indian captives to work the land, the pioneers had to work the land themselves, fixing a pitiful means by plowing little plots. The ruined province developed gradually and was for all intents and purposes disregarded by the Spanish rulers in Guatemala. By the late eighteenth century, the settlements that would buela had been established and fares of wheat and tobacco were making financial conditions fairly better. Focal America picked up freedom from Spain on September 15, 1821. The news arrived at Costa Rica a month after the occasion. The subject of whether Costa Rica should join recently autonomous Mexico or join another confederation of Central American states brought about a severe fight between the pioneers of San Jose and their partners in Cartago and Heredia. A short considerate war in 1823 was won by San Jose and Costa Rica joined the confederation.

Bankruptcy Law – 1

One of the duties as a paralegal is to direct research. There is a rundown of fundamental and helpful assets for experts and law understudies to use in examining an insolvency. The essential sources are Statues, Rules and Cases. The auxiliary Sources are Bankruptcy Treatises, Internet Sources and Research Databases otherwise called Bankruptcy Reporter Systems. Every one of these assets are applicable to clarify the procedure in which each is expected to examine liquidation issues. A resolution is a codification of a law passed by assembly establishment and endorsed and marked into law by the official part of the administration. These sculptures fill in as hotspot for addressing all chapter 11 inquiries in the Bankruptcy Code itself by evidently finding the correct Code segment. The Bankruptcy Code characterizes the principles that gather and convey the resources for loan bosses in a chapter 11 continuing. The Code is all around recorded, to begin examining any liquidation issue. Cautious perusing, examination and translation are the most significant instruments to do a compelling exploration. Toward the finish of each code area, there is â€Å"Historical and Revision Notes† that are useful in clarifying the significance of a specific arrangement and furthermore an important auxiliary source to find answers to insolvency questions. The two essential sources in the law library for the U. S. Code in print are United States Code Annotated (USCA) which was distributed by Thomson West and United States Code Services (USCS) which was distributed by LexisNexis. Both the USCA and USCS give and incorporate explanations of cases and articles. The online Statues generally utilized are in the Cornell University Law School, Lll/Legal Information Institute. Rules of the court are rules made by the most elevated court that administer court procedures. Cornell University Law School, LII gives a connect to data about the Interim Rules and Official Forms for the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. These Rules of Practice and Procedure in insolvency normally known as the Federal Rules of Bankruptcy (Civil) Procedure and Federal Rules of Evidence explain the aggregate standards which are directing the assortment and dispersion of advantages for loan bosses in a chapter 11 continuing. For instance, guidelines on what structure is required, how and when a movement is recorded, how and when a case is documented, and the â€Å"how to† questions, etc. USCA and USCS found in the law center assortment have chapter 11 principles in volumes following the Title 11. Joined to the Federal Rules of Bankruptcy Procedures are structures called â€Å"Official and Procedural Bankruptcy Forms. † These structures present bearing with respect to the substance and presence of the archives. Furthermore every Bankruptcy court makes its own nearby guidelines and neighborhood frames as long as they are not conflicting with the Code or the Bankruptcy Rules. Nearby standards differ from area to region and can at times be the wellspring of noting a training or system question accordingly; every government District Court has its own Local Rules of Court, including United States Trustee Guidelines. Both The Federal Rules of Civil Procedure and the Federal Rules of Evidence apply in insolvency procedures however not every one of these principles apply to a chapter 11 case. Another essential hotspot for paralegals to perform investigate is case law which is the law built up by the result of previous cases. There are a few columnist frameworks that distribute just chapter 11 cases. We can discover cases online in LexisNexis Academic and Westlaw Patron Access. Collier additionally distributes a journalist framework called Collier Bankruptcy Cases (Law Core KF1524. C62 1979). The biggest correspondent framework is called West’s Bankruptcy Reporter (Law Core KF1510. A2 W47) and there’s additionally West’s Bankruptcy Digest (Law Core KF1510. 3 W47). All these journalist frameworks hold cases chose by Bankruptcy Courts, region courts, courts of offer, and the Supreme Court that identify with chapter 11 issues. Another framework which is adequate to refer to is called Bankruptcy Court Decisions (BCD). Also, the chapter 11 framework utilizes its own different treatises. A treatise is a composed broad exposition of realities and standards and ends. The most widely recognized asset utilized is Collier on Bankruptcy and they catch up with training structures and aides entitled the Collier Bankruptcy Practice Guide. They comprise of test arguing structures and extra practice devices. These essential wellsprings of looking into insolvency issues start from codes and follows right to columnist frameworks and on the web. The web by a wide margin has rearranged the hour of research completely. Most inquiries can be addressed effectively, capably, and rapidly on the off chance that you input the right Code area or Rule that is identified with the subject of the request and afterward restricted it down to a word or expression in the code segment. The American Bankruptcy Institute (www. abiworld. organization) is the most perceived site that gives every day news and report basic case and authoritative turns of events. The Federal Judiciary Home Page (www. uscourts. gov) can assist you with getting to your nearby court. Additionally, the virtual framework in the courts has bit by bit been joining the capacity to get notification of pleadings. Moreover, courts utilize the web to stay current with the official state middle family salary and different IRS cost norms that must be applied to figure the equation. The web likewise gives fast access to debtor’s current credit report facilitating the way toward standing by to get it via mail and it additionally shows a rundown of the board courses required to get to release singular insolvency cases. All things considered, as for chapter 11 paralegal inquire about, there are a lot of methods of dealing with a careful a brief research dependent on the copious gracefully of apparatuses and assets accessible. It is just a matter of getting the information and experience to precisely apply all the assets like code, sculptures, chapter 11 report frameworks joined with the web to have the best result. References: 1. Fundamental Bankruptcy Law for Paralegals, Custom Edition Published by Pearson Learning Solutions By David L. Buchbinder 2. www. law. asu. edu

How to Overcome the Bystander Effect

How to Overcome the Bystander Effect Theories Social Psychology Print How to Overcome the Bystander Effect By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Updated on December 13, 2019 sturti / Getty Images More in Theories Social Psychology Behavioral Psychology Cognitive Psychology Developmental Psychology Personality Psychology Biological Psychology Psychosocial Psychology Psychologists have long been interested in exactly why and when we help other people. There has also been a tremendous amount of interest in the reasons why we sometimes dont help others. The bystander effect is a social phenomenon that occurs when people fail to help those in need due to the presence of other people. In many cases, people feel that since there are other people around, surely someone else will leap into action. Factors That Can Help Overcome the Bystander Effect While the bystander effect can have a negative impact on prosocial behavior, altruism and heroism, researchers have identified a number of different factors that can help people overcome this tendency and increase the likelihood that they will engage in helping behaviors. Some of these include: Witnessing Helping Behavior Sometimes just seeing other people doing something kind or helpful makes us more willing to help others. Imagine that you are walking into a large department store. At the entrance is a bell ringer asking for donations to a charitable organization. You notice that many of the people who walk by are stopping to drop their change into the donation bucket. As a result, you might feel more inspired to stop and donate your own change. Researchers have found that when we observe other people engaging in prosocial behaviors, such as donating blood, we are more likely to do the same. Being Observant One of the key reasons people often fail to take action when help is needed is that they do not notice what is happening until it is too late. Ambiguous situations can also make it difficult to determine if help is truly needed. In one famous experiment, participants were less likely to respond when smoke began to fill a room when the other people in the room also failed to respond. Since no one else was taking action, people assumed that there must not be an emergency. Staying alert and attuned to your situation, rather than relying purely on the responses of those around you, can help you best decide how to react. Being Skilled and Knowledgeable When faced with an emergency situation, knowing what to do greatly increases the likelihood that a person will take action. How can you apply this to your own life? While you certainly cannot be prepared for every possible event that might transpire, taking first aid classes and receiving CPR training could help you feel more competent and prepared to deal with potential emergencies. Guilt Researchers have found that feelings of guilt can often spur on helping behaviors. So-called survivor guilt is just one example. Following the 9/11 terrorist attacks, some people who had survived the event felt driven to help others in the aftermath. Having a Personal Relationship Researchers have long known that we are more likely to help people that we know personally. In an emergency situation, people in trouble can help cultivate a more personalized response even in strangers by taking a few important steps. Simple behaviors such as making direct eye contact and engaging in small talk can increase the likelihood that  a person will come to your aid. If you are in trouble, single out an individual from the crowd, make eye contact, and directly ask for assistance instead of making a general plea to the group. Seeing Others as Deserving of Help People are also more likely to help others if they think that the person truly deserves it. In one classic study, participants were more likely to give money to a stranger if they believed that the individuals wallet had been stolen rather than that the person had simply spent all his money.   This might explain why some people are more willing to give money to the homeless while others are not. Those who believe that homeless people are in their situation due to laziness or unwillingness to work are less likely to give money while those who believe that these individuals are genuinely deserving of help are more likely to provide assistance. Feeling Good Researchers have also found that feeling good about ourselves can contribute to prosocial behaviors. People who feel happy or successful are more likely to lend assistance, and even relatively small events can trigger such feelings. Hearing your favorite song on the radio, enjoying a warm summer day, or successfully completing an important task at work can leave you feeling joyful and competent and more likely to help out another person in need. This is often referred to as the feel good, do good effect.

Major Depression A Huge Problem And It Is Growing Essay

MAJOR DEPRESSION is a huge problem and it is growing. By looking at the statistics we can clear up common misconceptions and make it easier to tackle major depression at its root. Major depression is the No.1 psychological disorder in the western world.(1) It is growing in all age groups, in virtually every community, and the growth is seen most in the young, especially teens. At the rate of increase, it will be the 2nd most disabling condition in the world by 2020, behind heart disease. The escalation in the problem, as well as the facts relating to recurring episodes of depression show that while the first line treatment of depression by antidepressants may sometimes control the symptoms, it usually does little to give sufferers depression-free lives. More than ever, we need to look at alternatives to drugs that will equip us to deal effectively with the triggers that allow depression to take hold again and again. This is where drug treatments fail. First and foremost, clinical or major depression is growing at an incredible rate. †¢ People of all ages, backgrounds, lifestyles, and nationalities suffer from major depression, with a few exceptions. †¢ Up to 20% of people experience symptoms of depression. †¢ 10 times more people suffer from major depression now than in 1945 (2) †¢ The average age of first onset of major depression is 25-29 A few key areas of society remain where major depression is not seen. Also, the huge increase in cases of major depression show that it canShow MoreRelatedIndustrial Capitalism And The Economic System1433 Words   |  6 Pagescapitalism has been created that continues to this day. The panic of 1873 is the first global depression that was occurred by new idea of industrial capitalism. The key to industrial capitalism is a boom and bust cycle. Boom and bust cycle is occurred by the process of economic expansion and contraction that occurs repeatedly. During that cycle, booming phase is when the economy is growing, jobs are growing and the market is brining high returns to the investors, which â€Å"booms† the economy. ConsequentlyRead MoreThe Effects Of Depression And Its Effects On Society Essay1497 Words   |  6 PagesDepression is much more than a word with a definition. It is a constant feeling of sadness, guilt, and worthlessness. All genders and ages can experience what it is like to be depressed; however, the earliest signs of depression begin with youngest of the human population. From the day a child is born, the environment, the people, and everything else around them, begins to influence their decisions and impact the way they will live their life. A child is the first naà ¯ve human being to be influencedRead MoreObesity And Its Effects On Obesity1637 Words   |  7 PagesMany people wonder how destructive can effects of obesity be. First of all what is an obesity? Obesity is an abnormal accumulation of body fat, usually 20% or more over an individual s ideal body weight. It is a very serious problem and is becoming very dangerous in today’s world. Obesity is now considered to be the second most preventable death in America, with tobacco being the first. As use of tobacco rates continues to decline, the obesity rates continue to rise. With that being said, deathRead MoreThe Great Depression By Franklin D. Roosevelt s New Deal Legisla tion1115 Words   |  5 PagesWhat do you think about when you hear The Great Depression? Some might say the worst economic time in the United States of America. The Great Depression was one of the longest and innermost economic downturn in the world of history between the years of 1929 and 1939. Also, The Great Depression led to the Federal Government having a more involved role in America s economy, this was done through the creation of Franklin D. Roosevelt s New Deal Legislation, which turned out to be effective becauseRead MoreObesity : A Major Problem Today Society Within The United States1548 Words   |  7 PagesObesity is a major problem in today’s society within the United States. To be more specific, childhood obesity. Childhood obesity is becoming worse, and the adults don’t realize the impact it has on the rest of the child s life. According to Americas Let’s Move initiative the definition of Obesity is, â€Å"excess body fat. Because body fat i s difficult to measure directly, obesity is often measured by body mass index (BMI), a common scientific way to screen for whether a person is underweight, normalRead MoreTeen Depression : Is It Really Doing What It Should?1332 Words   |  6 PagesDepression is a prodigious issue in today’s society and is especially prevalent in teens. According to teen depression statistics, around 20% of teens have or are currently experiencing depression symptoms. And that doesn’t include self- harm or suicide/attempted suicide. Because depression is becoming such a major issue, antidepressant prescription has skyrocketed; but is it really doing what it should? If antidepressant use is increasing, why are the numbers of depressed teens growing or remainingRead MoreThe Causes of Canadas Great Depression of 1929-1939 Essay1679 Words   |  7 Pagesto him heard. â€Å"It’s all gone.†# The term ‘Great Depression’ according to Kristin Brennan evokes black -and-white images of thin men in threadbare suits and worn-out shoes selling five-cent apples on city streets, of â€Å"grim-faced women lined up three deep to collect bread and milk at relief stations.†# The Great Depression of the 1930s was a devastating time toward many Canadians, where the collapse of the stock market was the beginning of the Depression, a period of severe economic and social hardshipRead MoreMajor Depression : A Disabling Illness1569 Words   |  7 PagesMajor Depression: a Disabling Illness or a Tool of Greatness Around one time in everyone’s life, they will suffer from depression, whether it’d be a short amount of time, or the complete opposite. Mentally the effect of depression are scarring, but when a depression victim finally sees the light of day from the withered dark forest, nothing could feel greater. Once the melancholy thoughts are overcome, a victim can grow as a person, appreciate the life they’ve been given, gain some maturity, andRead MoreWhy Is the â€Å"Era of Goof Feelings† a Misnomer? Essay859 Words   |  4 Pagesis partly fact. However, the perception of unity that this era defines is somewhat misleading. Throughout this period, there were various problems that contradicted the era’s name. Some of the serious issues that divided the nation were economic depression and sectionalism. The first major fracture in â€Å"Era of Good Feelings† was an economic panic and depression that is frequently known as â€Å"The Panic of 1819†. This disaster was largely caused by the Second Bank of the United States (BUS). In theirRead MoreSevere Economic Downfall During The Great Depression1360 Words   |  6 PagesThe severe economic downfall during the period from 1929 to 1941 is known as The Great Depression. The stock market crashed and millions of people lost their jobs and ended up homeless. It was one of the most terrifying eras in the US’ history. Industry and agriculture were both major causes of the Depression. Many things were replaced due to the fact of development of the technology. For example, railroads lose to automobiles and coal loses to hydro elective , natural gas, and oil. Also, fewer houses

Attention Deficit Hyperactive Disorder ( Adhd ) And The...

Attention Deficit Hyperactive Disorder (ADHD) and the Frontal Lobes Attention Deficit Disorder (ADD), Attention Deficit Hyperactive Disorder (ADHD) throughout history has been seen as a behavioral issue. The prevalence and attention given to ADD/ADHD as a disorder has not become apparent until more modern times. With the coming of Drugs, treatment seemed to become common and successful. There are many risk factors believed to contribute to developing ADD/ADHD. However, no correlates are indeed causal factors to people who develop ADD/ADHD. There has been genetic and hereditary evidence and a definite difference neurologically that proves to be the basis of the ADD/ADHD. Both dopamine and serotonin have a play in the ADD/ADHD. History of Attention Deficit Hyperactive Disorder (ADHD), Attention Deficit Disorder (ADD) Attention Deficit Hyperactive Disorder (ADHD), Attention Deficit Disorder (ADD) is a debatable topic when it comes to the discovery or history of the disorder. A Doctor Alexander Crichton in 1798 described children as having â€Å"mental restlessness†; when the child was without the ability to constantly attend to any one object. Another description was accounted in a children’s book by Doctor Heinrich Hoffman who was also a physician during 1845. In one of his books of poetry, Doctor Heinrich Hoffman writes about a Fidgety Philip, in which there is a description of a boy recognizable with, what is now ADD/ADHD. (History of ADD/ADHD, n.d.). A British DoctorShow MoreRelated add and ritalin Essay2465 Words   |  10 Pages ADD and Ritalin Attention Deficit Disorder (ADD) is a problem that affects 5% to 10% of all children. ADD affects more children than any other childhood problems except asthma. It is estimated to be the largest single cause for first referrals to child guidance clinics throughout the country, making up as many as 40% of those cases. Many ADD cases are not diagnosed because the problem most often does not show in the doctor’s office. Current estimates suggest that approximately 50 to 65% of theRead MoreAttention Deficit Disorder Essay1978 Words   |  8 PagesAttention Deficit Disorder Attention Deficit Disorder (ADD) is a problem that affects 5% to 10% of all children ADD affect more children than any other childhood problems except asthma. It is estimated to be the largest single cause for first referrals to child guidance clinics throughout the country, making up as many as 40% of those cases. Many ADD cases are not diagnosed because the problem most often does not prevail in the doctors office. Current estimates suggest that approximately 50Read More Attention Deficit Hyperactivity Disorder Essay1520 Words   |  7 PagesAttention Deficit Hyperactivity Disorder / Personality? For a typical person with Attention Deficit Hyperactivity Disorder (ADHD) sitting down to do a task such as homework can be agonizing, the physical act of staying in place, being as difficult as concentrating on the work. The person with ADHD may go on in life to have social problems because symptoms such as hyperactivity, inattention, and impulsivity, are mistaken as laziness or self-centeredness (14). The problems of ADHD often developRead MoreAttention Deficit Hyperactive Disorder Essay1011 Words   |  5 PagesAttention deficit hyperactivity disorder (ADHD) is one of the most common childhood disorders that develops in children and becomes apparent in the preschool, early school years and continue through adolescence and adulthood. It is one of the rising public health concerns which is characterized by inappropriate levels of inattention, hyperactivity and impulsivity. The world wide prevalence rate was estimated as 5.29 %. (Polanczyk 2007). Prevalent rates are higher at 12 y ears. It also affects schoolRead More Attention Deficit Disorder in American Children Essay1414 Words   |  6 PagesAttention Deficit Disorder in American Children Approximately 3-5% of all American children have Attention Deficit Disorder (ADD). ADD is a leading cause of school failure and under-achievement. ADD characteristics often arise in early childhood. As many as 50% of children with ADD are never diagnosed. Boys significantly outnumber girls, though girls are more likely to be undiagnosed with ADD. ADD is not an attention disorder, but a disorder of impulse control (Pfiffrer 184). CharacteristicsRead MoreChildhood Disorders Range From Attention Deficit / Hyperactive Disorder ( Adhd )909 Words   |  4 Pageswill have a childhood disorder† (U.S. Department of Human Health and Services, 2015). Childhood disorders range from attention-deficit/hyperactive disorder (ADHD), autism, however, these are only a couple well-known disorders. Be that as it may, some individuals are dysfunctional from the myelination, limited working memory or selective attention, all of which can contribute or be linked to ADHD and autism, hence the executive function of individuals are affected by these disorder. ApproximatelyRead More Attention Deficit Hyperactivity Disorder Essay1555 Words   |  7 PagesAttention Deficit Hyperactivity Disorder (ADHD) is a developmental disorder that displays as distracted, hyperactive, and unable to focus on tasks and activities. Also known as Hyperkinetic Impulse Disorder, Hyperkinesis, Hyperactive Syndrome, Minimal Brain Damage, Minimal Brain Dysfunction, and Undifferentiated Deficit Disorder, ADHD is the most commonly diagnosed neurological disorder in children. Although many children with ADHD are quite intelligent, their lack of focus can frequently lead toRead MoreAttention Deficit Hyperactivity Disorder - Essay1391 Words   |  6 PagesAttention Deficit Hyperactivity Disorder Abstract There have been major concerns about the different kinds of learning disorders and the Attention Deficit Hyperactivity Disorder is one. While there are different kinds of the learning disorders which affect the old and the young alike, researchers have not been able to find the cause of Attention Deficit Hyperactivity Disorder. This paper will begin by discussing the definition of the disorder, the recent statistics of childrenRead MoreAttention Deficit Hyperactive Disorder ( Adhd )1678 Words   |  7 Pagesâ€Å"ADHD is a neurological difference that affects learning and language, and every aspect of life† (Hardman). It has been argued that ADHD (Attention Deficit Hyperactive Disorder) is not a real disease, but it has been confirmed by neurological testing that ADHD is a real disease. It has been found that ADHD symptoms are caused by a child having less brain activity in their frontal lobes; this part of the brain controls the impulse control which will make it harder for the child to sit still. ThereRead MoreAttention Deficit Disorder ( Add ) Essay937 Words   |  4 PagesAttention Deficit Disorder (ADD) LeeAnn Larsen Community College of Aurora Attention Deficit Disorder Attention Deficit Disorder (ADD) is â€Å"a syndrome of disordered learning and disruptive behavior that is not caused by any serious underlying physical or mental disorder and that has several subtypes characterized primarily by symptoms of inattentiveness or primarily by symptoms of hyperactivity and impulsive behavior (as speaking out of turn) or by the significant expression of all

Original Writing Rumours over Rumours Free Essays

It happened on a usual Friday in the autumn. The weather was very terrible: masses of rain were falling down the sky as if the clouds were exploding. There was no sun visible in the sky. We will write a custom essay sample on Original Writing: Rumours over Rumours or any similar topic only for you Order Now The school bell rang and David put his stuff away and walked out of the classroom. He stood outside the school with his mates, waiting for their mums and dads to pick them up. Having to stay under the rain without any umbrella or a place where they could protect themselves from the rain. After 15 minutes standing and waiting outside in the cold David’s last friend was picked up by his mother. That was very unusual as normally David is the first one to be able to go home, but this day was completely different. David had to wait about half an hour until the red BMW with his dad sitting inside arrived, red-faced and in hurry. David sat down on the front passenger’s seat next to a normally unknown image. The car immediately made its way home. There was an uncommon silence inside the car. David sensed that something was definitely wrong, as normally he asks his son about how the day was. After a few minutes his Dad broke the silence: â€Å"David, how can you explain me the rumour that is there around our neighbourhood?† David just stared at the face of his Dad, thinking ‘What is he talking about? What is wrong with him?’ â€Å"Don’t look at me as if nothing had happened! You know exactly what I’m talking about. The rumour about you.† â€Å"What rumour!? I don’t know anything about it – seriously. What’s the rumour?† â€Å"The rumour is that one of my friend saw you in a bar smoking and drinking lots of vodka. He also saw you with another half nude girl. I can’t remember her name.† â€Å"What? Who started that damned rumour about me? David asked innocently. â€Å"David – Is it true or not?† asked his dad suspiciously. â€Å"No dad! Of course it isn’t true! I have never smoked or drunk any type of alcohol! You have to believe me dad! And I don’t even know that girl you are talking about and I haven’t been in that bar.† â€Å"Don’t tell me any excuses young boy. Your mum will deal with you when we arrive at home† David kept quiet for the rest of their journey. David’s dad only deposed David at home and drove away somewhere. David got much panicked because he knew that if his dad just went away without even speaking to his mum, it meant that trouble was waiting for David at home. Usually his mum does not get that angry with him and believes his son. But this time it was looking very differently because when he went into the house his mum was waiting for him on the couch. â€Å"You owe me an explanation young man!† she said in an unusual tone. â€Å"W-what is there to explain mum?† â€Å"Don’t try to take the piss out of me! You know what I mean. The rumour about you. Is it true?† David shook his head slowly, â€Å"No mum† His mum laughed doubtfully: â€Å"Oh, c’mon! You think I can really believe you? I know you very well and you know that as well as I do how your face looks like when you are telling a lie. Why are you not just telling me the truth?† Depressed David looked up from the floor and said it straight out to his mum: â€Å"Yes mum! Yes – You are damn right. I was there in that pub and drunk a lot of alcohol and smoked. But you have to believe me; I don’t know anything about that girl dad was telling me about. The bar is a clean bar and not a brothel.† â€Å"David, we never had any types of problems with your brother!† â€Å"Why don’t you just tell me that into my face? You hate me and only think about Robert! Robert here, Robert there, he did this and that good think†¦ I’ve got enough of your Robert!† â€Å"OK David. I see, you don’t want to be compared with your elder brother? I know the reason: It is because he is a good person and you are exactly the opposite of him. That’s why you don’t like him and don’t want to be compared to him!† David was crying and silently went to his room. He laid down on his bed and cried. After a while he fell asleep. The next day was a holiday and David woke up very early, at about 6 o’clock. He first washed his face, got dressed and got back into his bed. He didn’t have any breakfast because his mum was there and he didn’t want to see her again. David spent all his day in his room doing nothing else as sleeping or playing around with his mobile phone. His parents completely ignored him, and so did he to them. His parents and David did not communicate to each other properly for about 4 week. David never went into this bar again, drunk alcohol or smoked cigarettes during this time although he was very depressed and often wished to go there. He thought of the possible effect that could happen if he did that again and got caught. When he got back to school after the holidays his mum started speaking with him and David felt very happy about it because in this period of time he found out how important a mother is to a son, which he just experienced. Their relationship was built together again and it seemed to be nothing that could break them both apart. But one day when David was at school his mum got a text message from one of David’s mates that simply destroyed everything. This SMS was telling his mum that David went to a brothel and walked around with inadequately dressed girls. It was Jack, but he was lying. When David came back from school that day, her mother welcomed him with a slap. David got startled from that. He looked at his mother despairingly and didn’t know the reason for this slap. â€Å"What did I do now mum? I swear to God I didn’t go to that bar again or drunk alcohol!† he asked frightened. â€Å"You are a good actor David! I know that style of yours† â€Å"What!?† David asked without knowing anything. â€Å"I’ve had enough of you! D’you think I am that stupid? I just got a message from one of your friends telling me about Eva.† â€Å"I don’t know any Eva! Who are you talking about?† â€Å"Oh c’mon David! First flirting with her in a bar and then walking around with her while she was wearing nearly nothing!† â€Å"Mum I don’t have any girlfriend and neither I know anybody called Eva† â€Å"Why don’t you just admit that you know that girl and the past rumour was true? You can’t hide it forever!† â€Å"What should I admit? What am I hiding?† â€Å"You know what David? I don’t even believe a single word coming out of your mouth!† â€Å"Do you know why I love my dad more than you? It’s because you hate me! You only love Robert and don’t care about me at all! I hate you too!† After saying this David ran upstairs to his room crying. He again lied down on his bed and thought about what he said. He regretted what he just said to his mum, because it wasn’t true. He loved his mum a lot. It was just that they sometimes couldn’t agree and had different thoughts about things. After a while he again slept. In that night he had a dramatic nightmare: He was falling into a whole without any end with his brother. There was a pavement on a side with people holding their hands up in order to catch one of the persons from falling. He saw how his brother Robert was able to rescue himself and survived. David himself was falling further and further into the whole, having no end. Suddenly he then woke up. When he woke up David realised that he was sweating extremely. He got out of his bed and washed his face in the bathroom. In the bathroom he looked at himself in the mirror and thought â€Å"I am dead anyway inside†. He was feeling an uncertain pain that was killing him inside. He looked at the clock; it was 3 o’clock. After he went back to his room he decided to write a letter to his parents about that he is trying to suicide. Once he put the letter on his desk, he opened the window and went out to the balcony. From the ladder there he climbed down the wall. There was a lake he knew about 5 kilometres away from his house, where he wanted to go. After looking back to the bedroom window of his parents and said farewell to his parents inside. He started his way to this lake by running all the five kilometres. He ran as fast as he had never done before. At about 3.30 he arrived there on the lake. David’s biggest fear was a lake or sea as he could not swim. There were boats, which could be rented on the lake. As David didn’t have any money with him he just took one and paddled to the centre of the lake. 5 kilometres away from where David was, his mum woke up and had the funny feeling that something was wrong, having to do with David. She decided to go to David’s room to ensure that everything was alright. But in fact it wasn’t at all. When she opened his room, she saw the empty room with the window open and the farewell letter on David’s desk. She screamed a very ear-piercing scream when she read about David’s suicide. At the same time David was in the centre of the lake and about to suicide himself. David closed his eyes and though about his family, his brother, mum and dad. Then he jumped into the lake with ice cold water and allowed the lake to swallow him†¦ How to cite Original Writing: Rumours over Rumours, Papers

Supervalu Company Analysis free essay sample

One company that may provide investors such an opportunity is Supervalu, Inc. Supervalu is an Eden Prairie, Minnesota based retail supermarket chain that has experienced sharp drop in the value of their share over the past several years. The company has committed itself to a turn-around by replacing Wayne Sales with Sam Duncan as CEO. Duncan followed his appointment as CEO by shuffling the top management deck and bringing in a new president in charge of Save-A-Lot, the companies most important subsidiary. All this was done with the ultimate aim of speeding up the turnaround. The company is also trimming down with layoffs and selling some of its well known brand to investment group Cerberus Capital (Anderson, 2013). 2. Overview of Supervalu Supervalu is an American retail giant. It has been in business for more than a century. With over 130,000 employees, it is the third largest food retail company in the United States (after Kroger and Safeway), and ranks number seventy five on the 2012 Fortune 500 list of America’s largest companies (Forbes, 2012). We will write a custom essay sample on Supervalu Company Analysis or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page On June 2nd 2006, the company announced the purchase of Boise, Idaho based Albertsons, Inc and all of its 1,124 stores. The Supermarket News magazine’s ranking of â€Å"Top Wholesalers for 2008† put Supervalu at the very top of the list (Supermarket News, 2008). The company has been listed on the New York Stock Exchange since 1967. The company’s mission is served by operations consisting principally of grocery and pharmacy operations with a total of 2,432 stores with the firm also offering supply chain services for smaller retailers, serving over 4,300 retailers (Supervalu, 2012). The retail operations are supported by 22 distribution centers, and the wholesale distribution is supported by nine distribution centers, the latter of which also supply company owned stores. The company benefits from a solid level of diversification with a number of different brands targeting different markets, including Acme, Albertsons and Shop ‘n Save brands. The company owns 1,102 traditional food retail stores, as well as 397 hard discount stores trading under the Save-A-Lot brand name (Supervalu, 2012). In addition the company also licenses the Save-A-Lot brand to 935 independent operators. With what seems to be a successful operation, the company however still faces a number of uphill battles with the last three years reporting significant losses and extreme pressure from competitors. In 2012 CEO Craig Hackert in charge since 2009 was replaced by company chairman Wayne Sales. A move that saw a sharp drop in share prices was met eight months later with Sales’ own firing and replacement with newcomer Sam Duncan in January of this year with the aim of accelerating the company’s turnaround. There have been significant problems including massive losses and decline in revenue production. Measures are now being taken to limit losses, slash cost and regain sales, including the sale of non-profitable brands as well as a shakeup in top management as discussed earlier. However, issues such as high levels of debt, a low level of equity and difficult trading conditions may persist for some time. In order to assess the organization as a potential investment, it is necessary to look at the financial analysis. 3. Financial Analysis Companies produce annual reports designed with the shareholder as the primary audience. The annual reports which are published using the standard format present the performance of the organization in the preceding 12 month period. The annual reports the 10-K in the United States – are overseen by an auditor to ensure that they reflect a true and honest picture of the company and are compiled in line with the required account standards. It should however be noted that financial reports may sometimes be rife with misleading information as was the case in recent years with Enron and WorldCom. However, for the purpose of this project, it is assumed that there are no potential misstatements. 4. 1 Summary of Statements All figures presented will be in millions of US dollars when examining the different financial statements – unless otherwise specified with the exception of per-share numbers. All figures for Supervalu, Inc. , have been extracted from the 10-k for the financial year ending February 2011 and 2012. Where industry comparisons are made, these have been taken from relevant ratio pages on MSN Money. 4. 2. 1 Income Statement The income statement, which can be found in appendix 1 is also called the Consolidated Statement of Earnings and shows that the financial year which ended on February 25th 2012 (a 52-week year) saw net sales of $36,100. This represented a deep in revenues on the previous two years as the 2011 net sales was $37,534 and the 2010 net sales was $40,597. Since 2010 the company has seen an 11. 0 percentage point decline in revenues. Some downward movement in revenue was however expected as a result of the divestments that occurred in mid to late 2011. The gross profit for the year 2012 was $8,019 which is a gross profit margin of 22. 1%. However the company saw a loss in operating profit of $519, primarily the result of high cost on intangible assets. 2012’s operating profit was still a lower loss in operating profit compared to 2011 when it was $976 and a gain of $1,201 in 2010. Net earnings are shown on the income statement. For the sake of accounting, net earnings may be presente d before or after taxes. Since Supervalu is experiencing an adverse financial climate and took advantage of a negative tax payment in 2010 and 2011, this paper will utilize the definition of net earnings as being earnings after tax. After provisions for income taxes were factored in, the company showed a loss of $1,040 or -2. 88% in net earnings in 2012. It must however be noted that this number represents an improvement on the previous year when net earnings registered a -4. 02% loss at $1,510. In 2012 there was a loss of $43. 91 per share in net earnings. This number is however an improvement from 2011 when the net loss per share was $7. 13 . It should be noted that these changes are not influences by the weighted average of outstanding share which stood at 212 million (Supervalu, 2012). The income statement highlights a company in some serious difficulties; however the numbers show encouraging signs of a rebound to better times in 2010. 3. 1. 2Balance Sheet The balance sheet referenced in Appendix 2 defines the company’s position in terms of assets and liabilities. The company experienced a drop in the value of its assets in 2012, however there was also a decrease in total liabilities overall. Current assets generally calculated as having an economic shelf life of 12 months or less fell steadily from 2010 ($3,711) to 2011 ($3,420) and 2012 ($3,225). This decline can be seen across all asset categories. Long-term assets also declined to $12,053 representing a 12. 39% drop in value. Measures to cut cost and control debt are starting to take hold as the level of current liabilities has declined year to year since 2010. The long term liabilities of the companies on the other hand have seen an upward tick with total liabilities rising from $11,524 in 2011 to $12,032 in 2012. Important to investors is the decline in the level of equity within the organization. This has gone down from $2,887 in 2010 to $1,340 in 2011 and just $21 in 2012. The balance sheet continues to paint a picture of current gloom face the organization in the near term. 3. 1. 3 Cash Flow Statement The cash flow statement in Appendix 3 shows $157 in cash and cash equivalents in hand at the end of 2012. This represented a decline in the previous two years of $211 in 2010 and $172 in 2011. This represents a gradual but consistent drop in cash and cash equivalents of the company. Significant impacts are the losses carried over into cash flow which amounted to $1,040 for 2012 and $1,510 for 2011. The net effect is a reduction in the amount of cash provided for operating activities. It is important to make note of the fact that while the company has engaged in disposing of some assets, there have also been new investment resulting in overall net investing of $484 in 2012 and $227 in 2011. Cash flow from financing activities was also negative with $291 raised from the issuance of long-term debt, but this is counteracted with $798 payment of long-term debt and capital lease obligations. This results in net cash outflow from financing activities of $587. However, this is a decline on the previous year of $975. 3. 1. 4Statement of Owners Equity The consolidated statement of stockholders equity found in Appendix 4shows the balance of equity over a period of four years, 2009-2012. The statement shows that the position of common stock has not changed, with a total of $230. The capital in excess of par has only change very slightly from $2,853 in 2009 to $2,855 in 2012. The major factor of the equity level is a deficit which resulted in a negative balance of -$1,892 at the end of 2012. When added with other accumulated losses results in a total shareholder equity in the firm of $21. This is a notable change compared to 2009 when the total balance of equity was $2,581. . 1 Ratio Analysis Ratio analysis can be used here to explore the financial position of the firm and the way in which it is performing by analyzing internal performance as well as providing a benchmark for comparison with the industry. This section puts forward some ratio analysis calculations and makes comparisons with industry averages where available. 3. 2. 1 L iquidity Liquidity is an important measure companies facing hard times. It measures the firm’s ability to survive in the short term and meet its current financial obligations (Libby et al, 2010). The current ratio and the quick ratio are the two main measure of liquidity also known as the acid test. The current ratio measures the firm’s ability to use current assets to settle current liabilities. In the case of Supervalu, there are insufficient assets available to pay current liabilities. This is however not unusual as like in many industries with rapid cash flow, a relatively low current ratio may be acceptable based on expected cash flow. Supervalu is therefore not necessarily showing any signs of mounting distress with the current ratio at 0. 0 as shown in table 1. The industry average is slightly higher, however this difference may be indicative of better use of capital – although it could also indicate cash flow issues. Table [ 1 ]: Current ratio Current ratio| 2010| 2011| 2012| Industry Avg. | Current assets| 3,711| 3,420| 3,225|   | Current liabilities| 4,167| 3,786| 3,590|   | Current ratio| 0. 89| 0. 90| 0. 90| 1. 1| (Supervalu figures are extracted from Supervalu Inc. 10-K. Industry comparison figure from Microsoft Money, 2012). The quick ratio is another way to evaluate liquidity within a company. The idea behind this is that an organization may not be able to realize the full value of its inventory if they are required to liquidate inventory in order to pay current liabilities. Calculations for the quick ratio are similar to the current ratio minus inventory value which is deducted from the total current assets as can be seen in Table 2. Table 2: Quick ratio Quick ratio| 2010| 2011| 2012| Industry Avg. | Current assets| 3,711| 3,420| 3,225|   | Inventory| 2,342| 2,270| 2,150|   | Net current assets| 1,369| 1,150| 1,075|   | Current liabilities| 4,167| 3,786| 3,590|   | Quick ratio| 0. 3| 0. 30| 0. 30| 0. 7| (Supervalu figures are taken from Supervalu, Inc. 10K. Industry figures are taken from Microsoft Money, 2012) 3. 2. 2Asset Management The company’s ability to manage assets will be a key deciding factor in its return to profitability. Measures of asset management include return on assets and return on equity. For Supervalu, the return on assets shows a sligh t improvement in 2012 at -8. 06% compared to -10. 00% in 2011. Table [ 3 ]: Return on assets Return on Assets| 2010| 2011| 2012| Industry Avg. | Net income| 393| -1510| -1040|   | Total assets| 16436| 13758| 12053|   | Return on assets| 2. 31%| -10. 00%| -8. 06%| 6. 80%| (Supervalu figures taken from Supervalu Inc. 10-K, industry comparison figure from Microsoft Money, 2012) The return on equity is poor. While the actual loss has declined in 2012, the phenomenal change in the return on equity showing large losses is the results of adjustments that followed the steep decline in the level of equity. Table [ 4 ]: Return on equity Return on Equity| 2010| 2011| 2012| Industry Avg. | Net income| 393| -1,510| -1,040|   | Equity| 2,887| 1,340| 21|   | Return on equity| 13. 60%| -112. 69%| -4952. 38%| 15. 5%| (Supervalu figures taken from Supervalu Inc. 10-K, industry comparison figure from Microsoft Money, 2012) The return on equity may not be enough to make an assessment of management’s use of assets. An alternative measure will be asset turnover (Libby et al, 2010). This analyzes the way in which assets are used to generate revenue. It will show how many times assets have been turned over in a given year. Supervalu seems to be improving efficiency in terms of utilization. They turned over assets equivalent to 2. 8 times in 2012 which was an increase from the previous two years (2. 9 times in 2011 and 2. 39 times in 2010). Looking at this in terms of industry context where the average is 2. 4 times, Supervalu appears to be improving efficiency which is positive for recovery. 3. 2. 3Debt Management The company’s debt equity ratio seems to spell doom for the future. This ratio measures the proportion of debt to equity. Compared to the industry average of 1. 03 shown in table 5 Table 5: Return on equity Debt to equity ratio| 2010| 2011| 2012| Industry Avg. | Total debt|   | 11,524| 12,032|   | Total equity|   | 1,340| 21|   | Debt/Equity|   | 8. 6| 572. 95| 1. 03| Supervalu figures taken from Supervalu Inc. 10-K, industry comparison figure from Microsoft Money, 2012) Another measurement of debt management is the debt ratio. Supervalu’s debt ratio show s that it is in a delicate position with the majority of assets being funded by debt. Many companies have gone through similar issues due to losses in equity but have rebounded as was the case with auto maker General Motors. These numbers do not therefore signify an inability for Supervalu to rebound. 3. 2. 4 Profitability An important measure of viability is the profitability of the organization. There are various measures of profit, however in this report I shall focus on net profit margin. This is the level of profit that remains after all cost has been deducted. In this report, I shall utilize the measure after interest and taxes. As can be seen on table 6, the company is slowly digging itself out of a low point in 2011 when the net profit margin was negative 4. 02%. However in an industry where the average is 3. 24%, it is obvious the organization has a long way to go. Table 5: Return on equity Net profit margin| 2010| 2011| 2012| Industry Avg. | Revenue (Net sales)| 40,597| 37,534| 36,100|   | Net profit| 393| -1,510| -1,040|   | Net profit margin| 0. 96%| -4. 02%| -2. 88%| 3. 24%| (Supervalu figures taken from Supervalu Inc. 10-K, industry comparison figure from Microsoft Money, 2012) 3. 2. 5Market Value There are a number of different measures of market value, the most common of which is the price earnings ratio. This is a measure that assesses Harold company will take to earn is total capitalization. However, as Supervalu is making a loss this ratio is not relevant and cannot be calculated. To assess market value a measure which may be utilized are the earnings per share. The earnings per share are shown in table 10, and are a measure of the profit, or loss, the company makes attributed to each share outstanding. As expected, this is in line with the net profit margin in table 5, with the earnings per share being -$4. 91 in 2012 falling from -$7. 12 in 2011. Table 6: Return on equity Earnings per share| 2010| 2011| 2012| Net profit| 393| -1,510| -1,040| Average share out| 213| 212| 212| Net profit margin| 1. 84%| -7. 12%| -4. 91%| (Supervalu figures taken from Supervalu Inc. 10-K 3. Competitors Supervalu is widely considered the third largest supermarket chain in the country. Its main industry peers are  Safeway, Kroger, and  Whole Food Market. Supervalu generated a steady gross margin of 22. 21% in 2012 and 22. 41% in 2011. However, the company is a loss-maker and it produced negative earnings in the previous year. Safeway, Kroger and Whole Food Market generated operating margins of 2. 37%, 1. 61%, and 6. 36%, respectively. It is clear from these gross margin numbers that the grocery industry has very slim operating margins on sales. Table 7: Competitor Analysis Figure in Million| Net Income| Long term D/E| Operating Margin %| Supervalu| -1244| Very High| -2. 1| Kroger| 728| 1. 8| 1. 61| Whole Food Market| 465| 0. 001| 6. 36| Safeway| 523| 2. 3| 2. 37| (Competitor results taken from Finviz. com) It also seems that Supervalu continued to struggle with insufficient growth in its operating activities in the last quarter of 2012. The corporations operating income fell for fiscal 2012. Furthermore, Supervalu is susceptible to financial leverage as it took on a new $2. 5 billion of debt in the third quarter of 2012 (Boehme, 2012). Supervalu needs to continue to reduce its operational cost in order to record positive results. 4. Conclusion The shedding of 877 grocery stores in a $3. 3 billion dollar deal with Cerberus Management LP in the first quarter of this year seems to have been a sign of a new and positive beginning (Dezember, 2013). The company’s stock has been one of the top performers this year; contradictory for a company still drowning in debt and declining sales. However the market has a positive outlook on the company. Since January 1st this year, shared of the company have gained a solid 133%. Supervalu closed the first day of trading this year at $2. 60 and ended the last week trading at $5. 26. Thanks to these positive numbers, both Fitch and Moody’s have upgraded their ratings on the company from negative to stable which has been a boost to investor confidence. The reduction in non-performing assets is expected to continue to improve the stability of the company. With less exposure to market volatility, the company should be able to rebound and even thrive. Decreasing the debt level will boost the balance sheet and future net revenues. 5. Recommendation Although the bullish run of Supervalu which started early this year continues, the company still has a long way to go in its quest to recover. Therefore the subjective recommendation of this report will be to hold. Based on the company’s current trend, it is very likely that within the next year the company will show even more positive signs of improvement and therefore warrant a change to a buy recommendation. If the organization is able to make a recovery it will be in a very strong position in the market as the number three grocer that also benefits from a large wholesaler and supply chain management operation. References Anderson, Jake, (January 10th 2013), Supervalu to Sell 5 Chains in $3. 3B Deal, Replace CEO. Retrieved April 13th 2013 from http://tcbmag. om/News/Recent-News/2013/January/Supervalu-to-Sell-5-Chains-in-$3-3B-Deal,-Replace Patton, Leslie, (July 30th 2012), Supervalu Names Wayne Sales CEO Amid Strategic Review. Retrieved April 13th 2013 from http://www. bloomberg. com/news/2012-07-30/supervalu-names-sales-chief-executive-officer-to-replace-herkert. html Forbes Inc. (2012), Fortune 500 List of Best Companies (2012). Retrieved April 13th 2013 from http://money. cnn. com/magazines/fortune/fortune500/2012/full_list/ Supermarket News (2008, SN Top Wholesalers for 2008. Retrieved April 17th 2013 from http://supermarketnews. om/top-75-retailers-amp-wholesalers/sn-top-wholesalers-2008 Supervalu, (2012). About Supervalu. retrieved April 13th 2013 from http://www. supervalu. com/sv-webapp/about/about. jsp Boehme, Kate, (September 16th 2012), Can Supervalu Survive Its Debt? Retrieved April 18th 2013 from http://seekingalpha. com/article/869491-can-supervalu-survive-its-debt Dezember, Ryan and Hudson, Kris (January 10th 2012), Property Is Plum in Supervalu Deal. Retrieved April 18th 2013 from http://online. wsj. com/article/SB10001424127887324581504578233411904827872. html