Characters’ Transformation Essay

Pride and Prejudice is one of the most popular novels written by Jane Austen which was foremost published in 1813. It is more than a narrative of love which revolves around the lives of the Bennett household and the affluent male visitants of Hertfordshire. The broad assortment of personalities in the narrative contributed to the novel’s attractive and compelling characteristics to day of the month. However. the novel seemingly portrayed several transmutations in relation to the chief characters. Elizabeth Bennet and Fitzwilliam Darcy were clearly different sorts of people who subsequently proved themselves to be the ideal lucifer for each other. Clearly. the transmutation of Elizabeth and Darcy’s characters were made possible by their ain pride and biass against each other. This fact. hence. illustrates the thought that the character transmutation would most probably non happen without the defects and headlong judgements of the two chief characters of the Jane Austen’s celebrated novel. Character Transformation Thoroughly reexamining the whole context of the narrative. the diverse personalities of the characters are what made it possible to get in a certain character transmutation. Each character is provided a characteristic that is distinguishable to other characters. Elizabeth Bennett. an interesting character so. possesses traits which are really much different from her sisters. Here is one of her statements to Darcy included in Chapter 19 where she rejects him the first clip he proposed to get married her and considered to be one of the polar bends in the narrative which caused the alteration in both Elizabeth and Darcy’s character: I do assure you. Sir. that I have no pretense whatever to that sort of elegance which consists in torturing a respectable adult male. I would instead be paid the compliment of being believed sincere. I thank you once more and once more for the award you have done me in your proposals. but to accept them is perfectly impossible. My feelings in every regard forbid it. Can I talk plainer? Do non see me now as an elegant female. meaning to blight you. but as a rational animal. talking the truth from her bosom ( Austen 97 ) . Elizabeth Bennett’s character speaks much of a strong personality which is highly opinionative and bold. Unlike her younger sisters. she does non let societal position and wealth to interfere with her criterions for love. However. in her statement. biass toward Darcy are apparent for she has already judged him without cognizing him good foremost. However. at the terminal of the narrative. she regrets holding misjudged the adult male upon cognizing the existent Fitzwilliam Darcy. On the other manus. Darcy’s character besides reveals pride and bias on his first feeling towards Elizabeth. His statement where she declared Elizabeth as tolerable but non beautiful plenty to involvement him because of her hapless societal position discloses how proud he was to avoid being acquainted with such a adult female ( Austen 9 ) . Similarly. he took back his word when he found out how interesting and intelligent Elizabeth was which led him to squeal his feelings and offer a matrimony proposal. Unfortunately. his first proposal was rejected. Upon the terminal of the novel. it is sensible to reason that Elizabeth Bennett and Fitzwilliam Darcy really have similar features which can be considered dry. Both are intelligent. witty. opinionated. and proud. There are besides cases when they have exposed Acts of the Apostless of biass towards some characters in the narrative. chiefly themselves. Elizabeth deemed Darcy to be an highly chesty and proud adult male when she by chance heard him state that he was non interested in her due to her hapless position in the society. She thought him to be a spoilt affluent adult male who is unsociable and selfish. In return. Darcy besides showed his biass towards her by thought that she was non right for him because she belonged to the lower category portion of the society. Hence. the state of affairs indicates how their unprompted and superficial judgements of each other led them to take back their words and eliminate their pride and biass towards each other. They bit by bit transformed into low existences who were capable of acknowledging and accepting their defects. Harmonizing to Christopher Booker. writer of The Seven Basic Plots: What we see here is a narrative wholly shaped by the implicit in signifier of Comedy. but in a new sort of intervention where the conventions about misinterpretations. camouflages. failure to acknowledge individuality and ‘dark’ figures acquiring caught out are no longer presented in the footings of the old phase devices. but instead more subtly. in footings of the gradual disclosure of people’s true character from behind first misguided feelings. and the find of true feelings. in a manner which corresponds more to our experience of life ( Booker 134 ) . Therefore. two people. even with similar features may non hold similar end products and can still be regarded contradictory in footings of beliefs. Like the characters in the narrative. all have distinct personalities which enabled them to make up one's mind the manner they did. If Elizabeth did non hurriedly judged Darcy in the first topographic point which led her into rejecting his first matrimony proposal. Darcy would non hold humbled himself into farther prosecuting Elizabeth despite her initial rejection. He would non hold rescued her household from societal shame and uncover his true nature. Simply put. Elizabeth would non hold alteration her sentiment about Darcy and most likely reject him still. She would non hold fallen in love with him and alter her ways of being filled with biass. The undermentioned scenarios created a immense impact in the adulthood and development of the characters in the narrative which proves that the transmutation is so dependent on the characters’ actions and determinations. Harmonizing to Nhu Le’s on-line article entitled. The Individualization of Elizabeth Bennet. she points out that: Although Elizabeth comes to hold that Darcy’s old actions were so justified. . . this transmutation â€Å"disables† Elizabeth’s capacity to get at. and act upon. her ain judgements. On the contrary. Darcy’s missive strengthens Elizabeth’s independency of head. By accepting the fact that she has misjudged Darcy. Wickham. Jane. and Bingley. Elizabeth sharpens her ability to spot character. In bend. she develops a solidly based assurance ( Le ) . As one critic puts it. â€Å"Both Elizabeth Bennet and Darcy develop an consciousness of their topographic point in the community and a acknowledgment of the effects of their ain speech† ( Colebrook 158 ) . Conclusion Clearly. the statements stated above place the construct that Elizabeth and Darcy’s character transmutation would non hold been possible without their errors and initial false feelings of each other. This validates the fact that their development as persons is extremely rooted from their determinations and headlong judgments—or instead their ain pride and biass. Works Cited Austen. Jane. Pride and Prejudice: A Novel. London: R. Bentley. 1853. Booker. Christopher. The Seven Basic Plots: Why We Tell Stories. New York: Continuum International Publishing Group. 2005. Colebrook. Claire. Irony. London: Routledge. 2004. Le. Nhu. The Individualization of Elizabeth Bennet. 16 December 2008. & lt ; hypertext transfer protocol: //www. Colorado. edu/pwr/occasions/articles/lizbennet. hypertext markup language & gt ;

Assess the reasons why the 2nd Republic was so short lived Essay

In 1848, agitation arose surrounding Louis Philippe, which led to his abdication later that year and the setting up of a republic in his departure. The ‘Second Republic’ was fated for failure and only reigned for an ineffective four years- between 1848 and 1852- before Louis Napoleon destroyed the republic in order to declare himself Emperor. I am going to discuss the combination of factors which contributed to the collapse of this flawed republic. In early 1848, under the government of Louis Philippe agricultural and industrial problems resulted in rioting, unrest and unemployment. Louis’ legitimacy as king was beginning to be challenged and the middle class, eager for reforms caught hold of a revolutionary spirit performing in demonstrations including that of the 23rd February, where nearly 50 people were killed. Louis, feeble in the face of a revolution, abdicated and fled to Britain on the 24th of February 1848. The abdication of Louis-Philippe left a vacuum or power and authority. The legislative authority which was in session at the time would willingly have declared regency for the ex-King’s mother until his son was of sufficient age to rule, had not the Republicans inside and outside the Assembly acted so swiftly. The middle class became worried as they were in the minority compared to the working class and feared them. The middle class were accepting of the decision of regency but the ‘Paris mob’, the working class, were furious at the prospect of their uprisings being ignored. They wanted a total change, not another monarch. A part of the armed mob which had in fact caused Louis’ abdication, successfully burst into the Chamber of Deputies as the arrangements for the succession were being discussed and to prevent any conclusion being decided. It was clear to those deputies who dared remain, that a republic was not in order because most of the people wanted it, but that only a republic would calm the mob down. A primary reason for the failure of the republic was that it was only set up in response and placation of the working class, or the ‘Paris mob’. The Paris mob was not the majority of the population therefore; support for the republic was thin from the beginning. Sufficient resistance was not raised opposing its creation however, because the monarchists were far too divided to unite. For example, even if the Orleanists and Legitimists did unite to overthrow the republic, there would then be a state of anarchy as they both wanted such different ideals for France. A provisional government was set up with 4 Socialists and 7 Republicans. Controversy arose, thus hindering the success of the republic, as both the Republicans and Socialists wanted a republic but entirely different ones. The Socialists were unlucky in the majority of the government being Republican as it meant they were ousted on most occasions. For example, it was decided to set the election date on Easter Sunday; a set-back for the Socialists. This was because the Catholic Church disliked the Socialists and a majority of their supporters, the urban working class, would attend mass, hear a biased sermon (in those days the church was permitted to interfere politically) and thus vote against the Socialists. The election results for the now ‘Executive Committee’ reflected this, with 5 moderate Republicans, and no Socialists. The situation was not dissimilar to that in the period Louis Philippe and much of the constituent in the Assembly were lawyers, professionals and landowners. In fact, 165 of the 900 of them had been in the July monarchy under Louis Philippe. This enraged the Socialists who were desperate for reformation. They attempted an uprising but were quickly crushed and their leaders imprisoned. The first reformation made by government was concerning unemployment and they gave money, buildings and tools in hope people would create jobs for themselves and become self sufficient. The revolution however, increased unemployment and the government themselves developed economic problems. They needed to either cut spending or raise taxes, which would be a danger for their popularity. The Committee was emboldened by the settled state of Paris brought around by the payment of the ‘dole’ by National workshops and with their conservative nature of the moderate Republicans it was decided it was time to put the ‘masses’ back in their proper place and assert dominance once more. Thus, the ending of National Workshops came around as they had cost the country a great deal of money and attracted the poorest of society from everywhere in Paris in efforts to receive handouts. Men were instructed either to join military service or go to Algeria to work. The Republicans motives were clear; they felt threatened by the large number of able-bodied poor in Paris and feared the only way to prevent a potentially revolutionary group was to disperse them into the army or to do work in various provinces, forcing them to comply if they objected. Their reaction was predictably infuriated at the audacity of the Republicans and 20,000 armed rioters took to the street in a resistance known as the ‘June days’ which was regarded as more commanding than the one that forced Louis-Philippe into abdication. The government was prepared to use any force that was required in order to crush the revolt. General Cavaignac, with calculated and cold-hearted efficiency brought upon his troops and begun the task of quiet literally ‘clearing away’ the barricades street by street. Troops roamed the quarters in which the barricades had been and killed anybody whom they thought had been involved in the fighting against them. Ironically, thousands of the protestors were imprisoned or deported to Algeria in the end anyway. The June days were a landmark of the republic, four days of brutal fighting clearly revealed to all the violent nature of the republic. The Republicans felt they now had power over the Socialists and decided to crush them once and for all. Newspapers and clubs run by the Socialists were closed. The working-class became anti-Republican as they saw them now as oppressive and manipulative, both to the Socialists and also to themselves. The Republicans were doomed. They were upholding a flawed government with diminutive support. In November discussions of the Constituent Assembly finished and it was decided there would be a president elected for four year periods and of universal male suffrage. In December 1848 the elections were held for presidency. It was an impossible task to appeal to any more than a small minority of the electorate as a candidate due to the obvious lack of media facilities. Louis Napoleon Bonaparte spent most of his personal fortune however, in one of the first attempts at a national scale campaign. Local newspapers, badges, pictures and Napoleonic mementos were widely distributed. Napoleon had come to claim what he believed, by birth, to be his right. Used to Lamartine’s dreamy romantic idealism, France needed someone new and decisive which was a windfall for Napoleon. Many had believed the election to be a foregone conclusion and that the presidency would certainly go to Cavaignac. However, he had made enemies whereas Napoleon’s reputation remained untarnished. Despite lacking in charisma and being a poor public speaker, the leading politicians appeared fond of him and in a bid for power thought that they would be able to manipulate him as a puppet. His policies were of a strong government inside a democratic framework, his strong self image and his uncle’s Napoleonic legend appealed to all and most importantly, he had no association with the June days. He allured the masses in differing ways; The Royalists wanted him as a temporary monarch until the Legitimists and Orleanists resolved their differences; the clergy and army men thought he would uphold their privileges; the working class were enthusiastic on his ideas of social reform; the Frenchman thought he would reverse the Vienna settlement and the peasants wanted protection from the Republicans who were associated with violence. Napoleon becoming president was of no advantage to the republic and it could not last long under his power. Once president, Napoleon became greedy in his desire for power and decided his position was not authoritative enough. He wanted to remain in presidency longer than the four year stint and also demanded an increased wage. On the 2nd December 1851, after his demands were not met, Napoleon staged a coup to gain support and brought in troops to quash the opposition. An overwhelming ‘yes’ vote secured Napoleon with a ten year rule and another for France to become an Empire with Napoleon as emperor. On the 2nd December 1852 Napoleon declared himself Emperor and therefore dissolved the Second Republic of France. After less than 5 years the Second Republic had been brought to an end. The republican form of government had such revolutionary overtones inducing political, economic and social turmoil that it is not surprising that the men of property and power throughout Europe regarded Republicanism as a danger. The Second Republic had been established through public acclaim in Paris although had there not been a split of the Orleanists and the Legitimists and the Constituent Assembly a Republican constitution, then a Republic would never have emerged. Thus the republic had such few positive adherents that it was unlikely to survive any determined and well-organised attempt to overthrow it. The Second Republic failed to survive once a suitable solution had been found, in the Emperor of Napoleon. However, we should not credit Napoleon’s rise to Emperor as all due to the situation; he had made skilful and determined use of all that had been handed to him. I believe the failure of the Second Republic to be one of inevitability as it was too diverse in comparison to the previous reign of the monarch, to be wholly accepted. A plethora of hindrances faced the success of the Second Republic but I believe it to be mainly due to 4 factors; the sparse support for the republic in the first place (only the Paris mob), the Republicans destroyal of their own reformation, the workshops, the French people’s need for stability and Louis Napoleon’s overriding determination for power, which was the ‘final nail in the coffin’; of the Republic.

A Dirty Job Chapter 10

PART TWO SECONDHAND SOULS Do not seek death. Death will find you. But seek the road which makes death a fulfillment. – Dag Hammarskjà ¶ld 10 DEATH TAKES A WALK Mornings, Charlie walked. At six, after an early breakfast, he would turn the care of Sophie over to Mrs. Korjev or Mrs. Ling (whoever's turn it was) for the workday and walk – stroll really, pacing out the city with the sword-cane, which had become part of his daily regalia, wearing soft, black-leather walking shoes and an expensive, secondhand suit that had been retailored at his cleaner's in Chinatown. Although he pretended to have a purpose, Charlie walked to give himself time to think, to try on the size of being Death, and to look at all the people out and about in the morning. He wondered if the girl at the flower stand, from whom he often bought a carnation for his lapel, had a soul, or would give hers up while he watched her die. He watched the guy in North Beach make cappuccinos with faces and fern leaves drawn in the foam, and wondered if a guy like that could actually function without a soul, or was his soul collecting dust in Charlie's back room? There were a lot of people to see, and a lot of thinking to be done. Being out among the people of the city, when they were just starting to move, greeting the day, making ready, he started to feel not just the responsibility of his new role, but the power, and finally, the specialness. It didn't matter that he had no idea what he was doing, or that he might have lost the love of his life for it to happen; he had been chosen. And realizing that, one day as he walked down California Street, down Nob Hill into the financial district, where he'd always felt inferior and out of touch with the world, as the brokers and bankers quickstepped around him, barking into their cell phones to Hong Kong or London or New York and never making eye contact, he started to not so much stroll, as strut. That day Charlie Asher climbed onto the California Street cable car for the first time since he was a kid, and hung off the bar, out over the street, holding out the sword-cane as if charging, with Hondas and Mercedes zooming along the street beside him, passing under his armpit just inches away. He got off at the end of the line, bought a Wall Street Journal from a machine, then walked to the nearest storm drain, spread out the Journal to protect his trousers against oil stains, then got down on his hands and knees and screamed into the drain grate, â€Å"I have been chosen, so don't fuck with me!† When he stood up again, a dozen people were standing there, waiting for the light to change. Looking at him. â€Å"Had to be done,† Charlie said, not apologizing, just explaining. The bankers and the brokers, the executive assistants and the human-resource people and the woman on her way to serve up clam chowder in a sourdough bowl at the Boudin Bakery, all nodded, not sure exactly why, except that they worked in the financial district, and they all understood being fucked with, and in their souls if not in their minds, they knew that Charlie had been yelling in the right direction. He folded his paper, tucked it under his arm, then turned and crossed the street with them when the light changed. Sometimes Charlie walked whole blocks when he thought only of Rachel, and would become so engrossed in the memory of her eyes, her smile, her touch, that he ran straight into people. Other times people would bump into him, and not even lift his wallet or say â€Å"excuse me,† which might be a matter of course in New York, but in San Francisco meant that he was close to a soul vessel that needed to be retrieved. He found one, a bronze fireplace poker, set out by the curb with the trash on Russian Hill. Another time, he spotted a glowing vase displayed in the bay window of a Victorian in North Beach. He screwed up his courage and knocked on the door, and when a young woman answered, and came out on the porch to look for her visitor, and was bewildered because she didn't see anyone there, Charlie slipped past her, grabbed the vase, and was out the side door before she came back in, his heart pounding like a war drum, adrenaline sizzling through his veins like a hormonal tilt-a-wh irl. As he headed back to the shop that particular morning, he realized, with no little sense of irony, that until he became Death, he'd never felt so alive. Every morning, Charlie tried to walk in a different direction. On Mondays he liked to go up into Chinatown just after dawn, when all the deliveries were being made – crates of produce, carrots, lettuce, broccoli, cauliflower, melons, and a dozen varieties of cabbage, tended by Latinos in the Central Valley and consumed by Chinese in Chinatown, having passed through Anglo hands just long enough to extract the nourishing money. On Mondays the fishing companies delivered their fresh catches – usually strong Italian men whose families had been in the business for five generations, handing off their catch to inscrutable Chinese merchants whose ancestors had bought fish from the Italians off horse-drawn wagons a hundred years before. All sorts of live and recently live fish were moved across the sidewalk: snapper and halibut and mackerel, sea bass and ling cod and yellowtail, clawless Pacific lobster, Dungeness crab, ghastly monkfish, with their long saberlike teeth and a sin gle spine that jutted from their head, bracing a luminous lure they used to draw in prey, so deep in the ocean that the sun never shone. Charlie was fascinated by the creatures from the very deep sea, the big-eyed squid, cuttlefish, the blind sharks that located prey with electromagnetic impulses – creatures who never saw light. They made him think of what might be facing him from the Underworld, because even as he fell into a rhythm of finding names at his bedside, and soul vessels in all manner of places, and the appearance of the ravens and the shades subsided, he could feel them under the street whenever he passed a storm sewer. Sometimes he could hear them whispering to one another, hushing quickly in the rare moments when the street went quiet. To walk through Chinatown at dawn was to become part of a dangerous dance, because there were no back doors or alleys for loading, and all the wares went across the sidewalk, and although Charlie had enjoyed neither danger nor dancing up till now, he enjoyed playing dance partner to the thousand tiny Chinese grandmothers in black slippers or jelly-colored plastic shoes who scampered from merchant to merchant, squeezing and smelling and thumping, looking for the freshest and the best for their families, twanging orders and questions to the merchants in Mandarin, all the while just a second or a slip away from being run over by sides of beef, great racks of fresh duck, or hand trucks stacked high with crates of live turtles. Charlie was yet to retrieve a soul vessel on one of his Chinatown walks, but he stayed ready, because the swirl of time and motion forecast that one foggy morning someone's granny was going to get knocked out of her moo shoes. One Monday, just for sport, Charlie grabbed an eggplant that a spectacularly wizened granny was going for, but instead of twisting it out of his hand with some mystic kung fu move as he expected, she looked him in the eye and shook her head – just a jog, barely perceptible really – it might have been a tic, but it was the most eloquent of gestures. Charlie read it as saying: O White Devil, you do not want to purloin that purple fruit, for I have four thousand years of ancestors and civilization on you; my grandparents built the railroads and dug the silver mines, and my parents survived the earthquake, the fire, and a society that outlawed even being Chinese; I am mother to a dozen, grandmother to a hundred, and great-grandmother to a legion; I have birthed babies and washed the dead; I am history and suffering and wisdom; I am a Buddha and a dragon; so get your fucking hand off my eggplant before you lose it. And Charlie let go. And she grinned, just a little. Three teeth. And he wondered if it ever did fall to him to retrieve the soul vessel of one of these crones of Chronos, if he'd even be able to lift it. And he grinned back. And asked for her phone number, which he gave to Ray. â€Å"She seemed nice,† Charlie told him. â€Å"Mature.† Sometimes Charlie's walks took him through Japantown, where he passed the most enigmatic shop in the city, Invisible Shoe Repair. He really intended to stop in one day, but he was still coming to terms with giant ravens, adversaries from the Underworld, and being a Merchant of Death, and he wasn't sure he was ready for invisible shoes, let alone invisible shoes that needed repair! He often tried to look past the Japanese characters into the shop window as he passed, but saw nothing, which, of course, didn't mean a thing. He just wasn't ready. But there was a pet shop in Japantown (House of Pleasant Fish and Gerbil), where he had originally gone to buy Sophie's fish, and where he returned to replace the TV attorneys with six TV detectives, who also simultaneously took the big Ambien a week later. Charlie had been distraught to find his baby daughter drooling away in front of a bowl floating more dead detectives than a film noir festival, and after flushing all six at once and having t o use the plunger to dislodge Magnum and Mannix, he vowed that next time he would find more resilient pals for his little girl. He was coming out of House of PF&G one afternoon, with a Habitrail pod containing a pair of sturdy hamsters, when he ran into Lily, who was making her way to a coffeehouse up on Van Ness, where she was planning to meet her friend Abby for some latte-fueled speed brooding. â€Å"Hey, Lily, how are you doing?† Charlie was trying to appear matter-of-fact, but he found that the awkwardness between him and Lily over the last few months was not mitigated by her seeing him on the street carrying a plastic box full of rodents. â€Å"Nice gerbils,† Lily said. She wore a Catholic schoolgirl's plaid skirt over black tights and Doc Martens, with a tight black PVC bustier that was squishing pale Lily-bits out the top, like a can of biscuit dough that's been smacked on the edge of the counter. The hair color du jour was fuchsia, over violet eye shadow, which matched her violet, elbow-length lace gloves. She looked up and down the street and, when she didn't see anyone she knew, fell into step next to Charlie. â€Å"They're not gerbils, they're hamsters,† Charlie said. â€Å"Asher, do you have something you've been keeping from me?† She tilted her head a little, but didn't look at him when she asked, just kept her eyes forward, scanning the street for someone who might recognize her walking next to Charlie, thus forcing her to commit seppuku. â€Å"Jeez, Lily, these are for Sophie!† Charlie said. â€Å"Her fish died, so I'm bringing her some new pets. Besides, that whole gerbil thing is an urban myth – â€Å" â€Å"I meant that you're Death,† Lily said. Charlie nearly dropped his hamsters. â€Å"Huh?† â€Å"It's so wrong – † Lily continued, walking on after Charlie had stopped in his tracks, so now he had to scurry to catch up to her. â€Å"Just so wrong, that you would be chosen. Of all of life's many disappointments, I'd have to say that this is the crowning disappointment.† â€Å"You're sixteen,† Charlie said, still stumbling a little at the matter-of-fact way she was discussing this. â€Å"Oh, throw that in my face, Asher. I'm only sixteen for two more months, then what? In the blink of an eye my beauty becomes but a feast for worms, and I, a forgotten sigh in a sea of nothingness.† â€Å"Your birthday is in two months? Well, we'll have to get you a nice cake,† Charlie said. â€Å"Don't change the subject, Asher. I know all about you, and your Death persona.† Charlie stopped again and turned to look at her. This time, she stopped as well. â€Å"Lily, I know I've been acting a little strangely since Rachel died, and I'm sorry you got in trouble at school because of me, but it's just been trying to deal with it all, with the baby, with the business. The stress of it all has – â€Å" â€Å"I have The Great Big Book of Death,† Lily said. She steadied Charlie's hamsters when he lost his grip. â€Å"I know about the soul vessels, about the dark forces rising if you fuck up, all that stuff – all of it. I've known longer than you have, I think.† Charlie didn't know what to say. He was feeling panic and relief at the same time – panic because Lily knew, but relief because at least someone knew, and believed it, and had actually seen the book. The book! â€Å"Lily, do you still have the book?† â€Å"It's in the store. I hid it in the back of the glass cabinet where you keep the valuable stuff that no one will ever buy.† â€Å"No one ever looks in that cabinet.† â€Å"No kidding? I thought if you ever found it, I'd say it had always been there.† â€Å"I have to go.† He turned and started walking the other direction, but then realized that they had already been heading toward his neighborhood and turned around again. â€Å"Where are you going?† â€Å"To get some coffee.† â€Å"I'll walk with you.† â€Å"You will not.† Lily looked around again, wary that someone might see them. â€Å"But, Lily, I'm Death. That should at least have given me some level of cool.† â€Å"Yeah, you'd think, but it turns out that you have managed to suck the cool out of being Death.† â€Å"Wow, that's harsh.† â€Å"Welcome to my world, Asher.† â€Å"You can't tell anyone about this, you know that?† â€Å"Like anyone cares what you do with your gerbils.† â€Å"Hamsters! That's not – â€Å" â€Å"Chill, Asher.† Lily giggled. â€Å"I know what you mean. I'm not going to tell anyone – except Abby knows – but she doesn't care. She says she's met some guy who's her dark lord. She's in that stage where she thinks a dick is some kind of mystical magic wand.† Charlie adjusted his hamster box uncomfortably. â€Å"Girls go through a stage like that?† Why was he just hearing about this now? Even the hamsters looked uncomfortable. Lily turned on a heel and started up the street. â€Å"I'm not having this conversation with you.† Charlie stood there, watching her go, balancing the hamsters and his completely useless sword-cane while trying to dig his cell phone out of his jacket pocket. He needed to see that book, and he needed to see it sooner than the hour it would take him to get home. â€Å"Lily, wait!† he called. â€Å"I'm calling a cab, I'll give you a ride.† She waved him off without looking and kept walking. As he was waiting for the cab company to answer, he heard it, the voice, and he realized that he was standing right over a storm drain. It had been over a month since he'd heard them, and he thought maybe they'd gone. â€Å"We'll have her, too, Meat. She's ours now.† He felt the fear rise in his throat like bile. He snapped the phone shut and ran after Lily, cane rattling and hamsters bouncing as he went. â€Å"Lily, wait! Wait!† She spun around quickly and her fuchsia wig only did the quarter turn instead of the half, so her face was covered with hair when she said, â€Å"One of those ice-cream cakes from Thirty-one Flavors, okay? After that, despair and nothingness.† â€Å"We'll put that on the cake,† Charlie said.

Software Engineering for multi-Agent systems Essay

Software Engineering for multi-Agent systems - Essay Example It is also possible that the customers brought in new requirements after the specifications were frozen and these change requests were impossible to accommodate and hence the project failed. When the requirements analysis or requirements gathering is not correct, then there are very little chances that the project would succeed. So important and fundamental is the process of requirements engineering that is often the first step in the software development cycle (Browne, 2002). This paper would perform a critical study and review of the requirements engineering step and explore various concepts and ideas behind this step. When large and complex software applications are to be created, it must be first understood that there would perhaps hundreds of users and stakeholders who would want to have a say in how the system works. It would not be possible to meet the needs and demands of each and every person. However, the software should be designed in such a manner that it should help all personnel to complete their tasks and work, as desired by the organisation. As an example, a software that is used for billing in the checkout counter of a store would have different menus that allows the clerk to quickly scan the bar code on an item and then the software will immediately calculate the items price, check out the discount or premium if applicable, and then calculate the total payment due after adding all the taxes. The checkout clerk wants software that would be fast, not make mistakes and that requires the least human intervention. The backend team wants the software to allow them to create product items such as chips by Pringles, assign a unique item code and then add the price. As a further automation, stores such as Wal-Mart do not enter such details manually but these details are picked up automatically from the bar code. At any time if the

Market Myths Essay Example | Topics and Well Written Essays - 4500 words

Market Myths - Essay Example Myth Number One is that some people equate investing in the stock market to gambling with their money. As a result of this fallacy, a significant number of individuals avoid the stock market. An understanding of the reasoning behind purchasing stocks needs to be well-known in order for an individual to understand how investing in them is different from gambling. It is important to remember that a share of stock represents partial ownership in a company, and it gives the person who owns the stock some of the profits that the company makes and allows that individual to share assets (Investopedia, 2008, pg. 1). "Too often, investors think of shares as simply a trading vehicle, and they forget that stock represents the ownership of a company. In the stock market, investors are constantly trying to assess the profit that will be left over for shareholders. This is why stock prices fluctuate. The outlook for business conditions is always changing, and so are the future earnings of a company" (Investopedia, 2008, pg. 1). It is a rather daunting task to determine the value of a company at any given point. The Random Walk Theory applies, and this theory states that "there are so many variables involved that the short-term price movements appear to be random (Investopedia, 2008, pg. 1). ... 1) Also according to the article by Investopedia (2008, pg. 2), "Gambling, on the contrary, is a zero-sum game. It merely takes money from a loser and gives it to a winner. No value is ever created. By investing, we increase the overall wealth of an economy. As companies compete, they increase productivity and develop products thatcan make our lives better. Don't confuse investing and creating wealth with gambling's zero-sum game." Myth Number Two is that the stock market is some type of fancy, executive club reserved for the wealthy and for brokers and that the average person cannot play, or at least cannot play very well. The fact is that brokers do not hold all of the secrets anymore. Thanks to advances in technology and the advent of the Internet, all of the forecasting a research tools that brokers use are available to the general public as well, and they are really easy to get at pretty much any retail store that sells books and electronics (Investopedia, 2008). "Actually, individuals have an advantage over institutional investors becauseindividuals can afford to be long-term oriented. The big money managers are under extreme pressure to get high returns every quarter. Their performance is often so scrutinized that they can't invest in opportunities that take some time to develop. Individuals have the ability to look beyond temporary downturns in favor of a long-term outlook" (Investopedia, 2008, pg. 3). The third market myth is that stocks that have risen high and fallen will rise again. This is not necessarily true. Investopedia (2008, pg. 3) offers the following example: "Suppose you are looking at two stocks: XYZ made an all time high last year around $50 but

Explain what it means to be a learning orgaization Essay

Explain what it means to be a learning orgaization - Essay Example The need for creating work systems that keep changing in line with market demands often mean that businesses have to keep learning how to develop effective strategies for developing and consolidating their competitive advantages. This development has led to the growth of learning organisations, which aim at ensuring their staff is always abreast of the changing market conditions. This paper examines the different operations that happen in learning organisations and how it helps to build their competitive advantages. According to Wyse (2013), a learning organisation can be described as the company or business organisation that creates and facilitates learning opportunities for its staff and constantly transforms itself. In most instances, learning organisations often emerge because of the many pressures that face modern organisations, enabling them to remain being competitive in the dynamic business environment. Wise (2013) explains that by keeping to continuous learning, these organisations create competitive advantages that are sometimes unmatched by their rivals. According to Fairclough (2008), the increasing competition in most industries prompts the need to have learning organisations. In this regard, many businesses going global have been allocating huge budgets towards research and development, which have been thought as being essential in enabling these business organisations to learn some different approaches towards creating and enhancing their competitive advantages (Fairclough 2008). Market research is an important activity that enables businesses to keep changing their marketing operations so that they can keep increasing their market share. The need for learning organisation in modern times cannot be underestimated. This is because; technological advancements have been influencing most business practices. However, while technology is being advocated for most business operations, the need to know and develop the right technologies for

Banking system Essay Example | Topics and Well Written Essays - 500 words

Banking system - Essay Example These activities include selling various insurance products, forming societies, and investment platforms for their customers. This is called ‘buy and sell’ in banking. Banks are literally buying and selling products to consumers as a vender would do. Profit maximization is one of the major core objectives of shareholders for establishing businesses. Therefore, as businesses, banks are out to make profits. Leverage refers to a process by which banks acquire assets using borrowed money and uses these assets to make more money hence enabling them to buy more assets than they previously had. This money is a profit to the bank and shareholders who have invested their funds in form capital in the bank. However, this process involves many risks and in some cases the assets acquired fail to generate more money than the initially anticipated hence resulting into the bank making losses. Either shareholders invest in banks expecting to get returns on their on their investment. However, banks also need this money to keep growing in order to increase their profits margins. Because of this, they are force to acquire more assets from other sources to enable them maximize shareholder profits. This process of leverage is therefore only effective if profits are made. Banks request for securities when they are making loan advancements to their borrowers. The bank then holds this asset during the period covered by the loan for the purpose of security in case the borrower defaults in payment. If a customer defaults in paying back the loan and the accumulated interest, then it can dispose the security to recover the loan and interest. Therefore, securitization is the mechanism through which banks and other financial institutions pool together different types of debts owed to them, then repackage them, and finally sell them as securities like bonds and CMOs to different investors maximize their gains These institutions engage in these

Reggae Essay Example | Topics and Well Written Essays - 1000 words

Reggae - Essay Example Reggae is a musical style which traces its roots to the small island nation of Jamaica. It is synonymous with the former British colonial territory, the recreational use of â€Å"ganja†, the rise of Rastafarianism around the world and a man commonly known as â€Å"the first Third World superstar† (Pawka). When Reggae first emerged from the Caribbean in the early 1960’s, the United States and United Kingdom’s musical scenes were enthralled with the latest craze of rock n’ roll and R&B. But during this era of musical explosion in the slums of Kingston, â€Å"pan-Africanism merged with American R&B and Caribbean music in (the) back alleys to forever change global music† (John). And as the Jamaican record and radio industries began to gain more independence, more music began to flood out from the region. First, new musical genres emerged from the Jamaican R&B flooding the island, which shaped the sound of reggae music. â€Å"†¦around 1960, Jamaican drummers began hitting the second and fourth beats in unison with the piano and guitar, while the bass played walking quarter-notes.

Economic Effects of Birth Control Technology in China Essay

Economic Effects of Birth Control Technology in China - Essay Example This essay discusses the topic of population explosion that has been one of the main concerns in developing countries, such as China and India. Traditional values, ignorance of birth control technology, and labor intensive farming all play a role in population explosion. After the realization that the continued population growth will have a drastic impact on economic and social systems, many developing countries have adopted population control policies. Today, China is a country with the largest population in the world. Though China has a huge population, it has a weak economic foundation with inadequate per-capita resources. In fact, China is facing many contradictions and problems of economic and social development that are closely associated with the issue of population. The researcher discusses several initiatives taken by Chinese governmen to control population. In conclusion, the researcher mentiones that this is not only good for accelerating rural economic development, increa sing peasants' income, and improving their living standard, but it can also make them realize from their immediate interests the benefit of having less children, gradually changing their attitudes towards fertility, increasing their awareness and enthusiasm for carrying out family planning. An abundant labour supply, combined with relatively small shares of younger and older dependents, not only helped to make China become the world’s factory in the 21st century, but also contributed to increasing the standard of living.

The analysis of teaching service Essay Example | Topics and Well Written Essays - 1750 words

The analysis of teaching service - Essay Example but it actually begins with requirement gathering, analysis, design, coding, testing and acceptance (basically what we have also in Agile methodology as well today). I was more involved in requirement gathering and later on testing part of the process. Therefore I can say I was also involved with such project. Before I use one of the projects as an example and describe about the Work System that was used and the elements of it, I wanted to share some of experiences I’ve had with Systems Analysis and Design. First of all I should I figured out that no matter how much a system is a large or small, the theory will always work if we pay attention to them. The standards would work if you know yours system at first and also if you know what the theory is talking about; although all of these need experience as well. Having said that I believe Systems Analysis and Design is one of the most important aspects of any development project. The better the analysis the easier the development and market new products as well as identify and enter new markets with existing and new products. There are a number of considerations I have related to system analysis and design. From an overarching perspective I recognize that the systems process occurs in nearly all environments. In this way I recognize that even psychology and family relationships have been considered in terms of systems elements. Bronfenbrenner (1979, p. 34) established Ecological Systems theory as a pervading mode of examining human relationships in the home and work environment. In these regards I recognize that not only the structure of work environments, but also the individuals interacting within these environments fall within the domain of systems elements. Another major recognition I have had related to system analysis and design is the relation of systematic inputs and their workplace functionality. Indeed, Alter (2006, p. 1) indicated that one of the primary challenges of system analysis and design i s ineffective design of inputs within the system. Dick & Carey (2009) indicated that the single most important factor of whether a systematic training input will be incorporated into the workplace environment is the context of that workplace. Many times in my past experience I have received training in an element that was later not directly relevant or supported in the workplace environment. Upon entering the workplace environment this systematic component was then disregarded because of ineffective structures. Ultimately, then I recognize that one of the most essential elements of systems and systematic design is ensuring that each of the components operate together in a functional and mechanistic way. Part III. For a nonprofit project I was involved in our specific work system was a high school teacher working in public education. Customers While there are not customers in the traditional sense, there are similar components. In this way there are students achieving and receiving t he learning. There are parents interested in their children’s education. There are administrators and state education board members interested in ensuring the education provided reflects well on their professional competency. Finally, there are business organizations concerned with ensuring that there is an educated workforce to choose from. Products and Services The products and service are course specific. In terms of a mathematics classroom it is important that students learn algebraic functions, geometry, and potentially calculus. Additionally, they gain critical thinking and problem solving abilities. In this way the products and services are the education that is provided for the students. This

Honduras Essay Example for Free

Honduras Essay The Republic of Honduras is located in the north-central part of Central America, and has two coastlines, one being the Pacific, and the other being the Caribbean. Honduras is the second largest county in Central America. Honduras is almost as big as Tennessee, and contains many mountains, river valleys, narrow coastal plains, and fertile plateaus. Nicaragua is located to the east of Honduras, while Guatemala is to the west, and El Salvador is to the south. Honduras follows a Democratic constitutional republic government. Honduras was territory of the Mayan civilization during the first millennium. In 1821, Honduras declared its independence from Spain, to for m a federation of Central American states with four other nations. One year later, Honduras left the federation. Politics got Honduras riled up in the early 1900s, causing U. S. Marines to hop in and calm the ascending situation. We all know how important football is to other countries. El Salvador invaded Honduras after the deportation of thousands of Salvadorans. In 1969, this was called â€Å"the football war† because it started in a soccer game, and around five thousand people lost their lives in this war. Thankfully, the Organization of American States forced El Salvador to drop out, ending the war. For Culture, some of Honduras’ national holidays include there day of independence on the 15th of September, and Children’s Day on the 10th of September. Children’s Day is celebrated in homes, schools, and churches, and on that day, children receive presents and parties, closely relation to our Christmas. For Honduras Independence Day, it starts early in the morning with festivities and marching bands wearing unique colors and accessories. Ironically, Fiesta Catracha is celebrated on the same day. During the Fiesta Catracha, food is served throughout the day, including beans, tamales, baledas, cassava with chicharron, and tortillas. When Christmas Eve comes around, the people of Honduras reunite with their respected families and close friends, to have dinner, and hand out presents at midnight. Sometimes, fireworks are set off at midnight. Finally, birthdays consist of the famous Pinata, which is filled with candy and surprises for the children. The Coat of Arms for Honduras is a equilateral triangle, with a volcano at the base, between three castles, with a rainbow and sun over it.

Many Of The Characters In Of Mice And Men Have Dreams Essay Example for Free

Many Of The Characters In Of Mice And Men Have Dreams Essay John Steinbeck wrote the novel Of Mice and Men in 1937. The settings were personally related to the author himself. The Novel is set were he originally came from, around Salinas, California. It was written during the great depression which not only effected America, but Europe as well; however the novel only focuses on America. Steinbeck had his reasons for writing about it. He wanted to show the reality of the great depression as it struck everyone in different ways. He used realistic characters that represented the main groups of people living in America and what effects took place according to their status. One of the biggest problems was that twenty-five percent of the whole population was unemployed, leaving a mass of civilians to roam the streets, desperate to survive by any means. Others were forced to become itinerant workers. George and Lennie, the main characters, are two ranch workers. They are prime examples or itinerant workers due to the economic disaster they faced. They had slight difficulties maintaining a job as Lennie has a mental and almost physical disability. His child-like mind didnt allow him to correspond well with his beastly physicality. This means he is unaware of how brutal and uncivilized his actions may be. Its what always got him in trouble and George was the one always defending him. All they had was each other. As Itinerant workers they travelled far in search of work as did many others who were desperate to earn enough money to survive or perhaps support their family. They pretty much had no choice if they wanted to live. Work on a ranch didt always pay well ; however, the workers were provided with the necessities which had already cover a lot of costs such as a roof over their head, cooked meals, bathing facilities, so they were grateful. All those small things are the things that are taken for granted, but to those times they were valued and appreciated. Whatever salaries they received at the end of each month they would send home to their families or spend it all on a cat house (prostitute house) and start all over again. George and Lennie had other plans which differentiated them from the rest. George and Lennie both shared a dream. Besides the fact that their relationship status was quite rare, the dream made it that little bit more special. Most people travelled alone and just had their minds set on surviving. George and Lennie had their hearts set on bigger things. We could live off the fatta the lan, a quote used constantly by both George and Lennie. They are implying that they want to buy land in which they can live off everything they grow so they wont have to rely on any one to survive. Its a big change from working for someone to working for yourself; its more satisfying knowing they can do what they want for themselves. Well have a big vegetable patch and a rabbit-hutch and chickens. And when it rains in the winter, well just say the hell with going to work! Their dream gets deeper with endless wants; to them its almost like an obsessive fantasy. However, their dreams are still realistic compared to a modern day dream which tends to be more selfish and greedy. A sense of freedom is what they are after which is highly understandable and admirable. Lennie also has an obsession with tending rabbits. Again his child-likeliness is getting the better of him; then again all children look forward to particular things they enjoy. Their dream is like a private sanctuary in their minds, an escape from reality, the one thing that no one can take from them. Its their goal, the one thing that keeps them motivated to carry on. Come on, George. Tell Me. Please, George. Like you done before. George tells their dream like a story out of a fairytale to satisfy Lennies childish behavior. Lennie also repeats his sentences as a sign of enthusiasm. The dialect used gives quite a clear impression of what they sound like and helps to visualize their words and actions. What is said is written quite different from how we would write and speak today, so it emphasizes on how long ago this took place. The Ranch consists of more than just workers and one dream. George and Lennie werentt alone; there were others with different occupations and completely different dreams. George and Lennies dream later developed into a larger dream including one other member. Candy, a former worker, who had lost his hand on the ranch so he wasnt much use. He was aware that it wouldntt be long until he would have no were to go, he was only getting benefits for his loss on the ranch, and no one wants a useless worker hanging about. When Candy over hears George going into story mode, he was overwhelmed knowing that there was some hope. You know wheres a place like that? and How much they want for a place like that? showed Candy was deeply interested by asking questions. Candy was interested by all of this because his life was slowly passing by and he was still not doing anything about it. So this dream of having a ranch and not working for somebody was a big eye-one for candy and seemed very interested in the dream. He stated obviously that hes interested by saying, Spose I went in with you guys and shows us how desperate he is by offering three hundred an fifty bucks which was more than half of the overall payment required. Just to sweeten up the deal even more he adds, I could cook and tend the chickens and hoe the garden some. And Id make a will an leave my share to you guys in case I kick off, Candy chose his words carefully letting George know it will benefit everyone rather than it being a selfish gesture. Just to make sure they kept him in he used a very short but never the less a very effective emotional line, When they can me here I wisht somebodys shoot me. Automatically they feel sympathetic towards him because he lost his hand and his best friend, the dog. It was after that conversation that Candy gained hope after all. However, a serious incident occurred which lead George to kill Lennie for the good and safety of others. He gave up on the dream and decided to become a part of what everyone else already was. then its all off? Candy asked sulkily. Without George, Candy couldntt stand a chance making the dream come true alone and there was no persuading George to reconsider. Candy was vexed at Curleys wife as she laid dead, Everbody knowed youd mess things up. He knew that if she didnt disturb Lennie they would all be able to leave the ranch and have a good life together. Now that she had caused all these problems he had no respect for her at all and insulted her by using harsh names such as lousy tart and bitch. Women to those times werent seen as equals, they done what they were told and werent much use. Curleys wife is a good example of a typical woman to those times. She is referred to as Curleys wife and nothing else to show her lack of importance. She craves attention as no one pays her no mind, so she resorts to Lennie who listens too her dream. Her dream was to make something of her self by becoming an actress. Coulda been in the movies, an had nice clothes all of them nice clothes they wear. An I coulda sat in them big hotels, an had pitchers took of me. she reminisces on the past were she had a chance of fulfilling her dream and all the materialistic things she would have had. She sounded ungrateful when she said, I wouldnt be livin like this, you bet as if to say what Curley had to offer wasnt good enough when thats what nearly all women wish they could have. Her marriage to Curley was an escape from loneliness which seemed to have failed. As she was an attention seeker she used her sexuality to her advantage to lure in other men, even if they were at the bottom of the social hierarchy. Although the other men were aware of the sly schemes, Lennie was mesmerized by her beauty and was generally vulnerable. She even admitted that she was lonely to make Lennie feel sorry for her by saying, Why cant I talk to you? I never get to talk to nobody. I get awful lonely. She did this to make him feel sorry for her and give in to her cunning ways. She had finally found someone dumb enough to listen to her pitiful life story without passing a judgment on her and it all started from, Maybe I will yet. Then with such passion she let lose what she had bottled up inside for a while. She couldnt care about what Lennie had to say when he included his own dream in the conversation, she went on with her story quickly, before she could be interrupted. For someone desperate to talk to someone she seemed awfully ungrateful and selfish. She was fully aware of what he was capable of yet she still took the risk of getting to close. She took Lennies hand and put it on her head she told him to Feel right aroun this was the biggest mistake she could have ever possibly made. From the slightest jerk he began to panic. His child and animalistic side began to collide again. Like a child he held on and panicked, however, he didnt realize he was hurting her and she wasnt strong enough to struggle free. She died young and still could have made something of herself but she could never get another chance after that. This quote is taken after Curleys wife died, her dreams like the others but hers different of wanting to be famous were shattered. Crooks is just the isolated nigger at the bottom of the social hierarchy on the ranch who constantly got degraded by everyone. His status is even lower than any womans. Any black person to those times would have the most selfless dream, to be treated as an equal and to have freedom. George and Lennie were the only ones that communicated with Crooks so it probably made him feel somewhat wanted. Crooks also developed a desire to join the dream. Crooks constantly had to take everything thrown at him verbally by Curleys wife as he had no status as a busted-back nigger. She constantly abused him and when he finally decided to stand up for him self he got knocked back down again. Keep your place then, Nigger. I could get you strung up on a tree so easy it aint even funny. This shows that if Crooks did anything out of the ordinary it will be reported and he will be dealt with in harsh ways. It made him realise that he couldnt take part in the dream, all hope had been lost thanks too the threat Curleys wife made. Every character mentioned above presented their dreams in the form of a story to another character. Each of the dreams were different yet similar in many ways. All of the dreams resorted to freedom from somewhere or someone, and not to suffer from financial problems. They all wanted to be able to support themselves and survive from what they owned. The only difference being that some were unrealistic and they had different views of the dreams they wished too accomplish. In the past Curleys wife was close to being an actress twice. Only thing that stopped her was her mother, who didnt let this dream continue knowing what the consequences would be later on in life. George, Lennie and Candy were less than a month away from completing their task of obtaining the land. In the end Lennie accidentally ruined everything and didnt even know what he had caused. Crooks wasnt as close, he only had hopes of becoming apart of the dream, but nothing had been established officially. I think the situation on the whole affected George the most as it was originally his aim to work towards it and without it he felt like there was nothing left for him. He lost faith in his dream and his fellow companion. I believe Steinbeck looked at how the Great Depression affected the different people in America and sympathized on their behalf. All the characters represent all types of people in America; the elderly, disabled, women and the ethnic minorities. They all played important parts as they helped to show how major the issue was.

Freedom is an illusion

Freedom is an illusion Brief 106213 ‘Freedom is an illusion.’ Discuss. Roger Scruton once remarked that there are ‘two sources of the metaphysical conundrum of human existence: one is consciousness, the other one is freedom.’ (Scruton: 227). Philosophers have long been perplexed by questions of freedom and necessity in human life. This essay will focus on Enlightenment philosophy which has given a formidable response to those who maintained that freedom in the social domain is a chimera. Amongst Enlightenment philosophers Immanuel Kant has probably formulated the most consistent and compelling argument for the existence of human freedom and it is his notion of the intricate connection between liberty and autonomy that will receive most attention in this essay. Philosophers have often approached the issue of human freedom from two different angles. First, they often conceptualised freedom under the rubrics of the absence or presence of constraints in the social sphere. Political philosophers have mainly engaged in this version of theorising freedom. The question they asked is most poignantly captured by Rousseau who notes that the real mystery of freedom is how we can be in chains and still regard ourselves as free (Rousseau: 181). While Thomas Hobbes considered freedom a matter of external impediments to an intended action, Rousseau extended this notion of impediment by querying whether social practices and laws should consequently be perceived as constraints and how we could possibly justify the existence of such laws and rules. Rousseau accepted that rules may facilitate the varied co-operative schemes amongst strangers. Yet, he argued any laws of society clearly required some justification, one that was rooted not in tradition but in reason. He writes: ‘the problem is to find a form of association†¦ in which each [individual], while uniting himself with all, may still obey himself alone, and remain as free as before.’ (Rousseau: 191) The second, and arguably more philosophical perspective which philosophers formulated however takes a more fundamental view of human life. It does not concentrate on the various external constraints which may act as obstacles in our multifarious pursuits of life, but whether we have the capacity to act freely at all. David Hume framed this viewpoint when he explored the relationship between reason, passion and action in his work A Treatise of Human Nature. In an insightful passage he notes that reason may be instrumental in identifying the connections between causes and effects, but must inevitably fail to contribute to the objects of our will. He thereby sets the tone of the argument which Immanuel Kant took up only decades later with such analytic precision. Hume notes: ‘Nothing can oppose or retard the impulse of passion, but a contrary impulse†¦We speak not strictly and philosophically when we talk of the combat of passion and of reason. Reason is, and ought only to be the slave of the passions, and can never pretend to any other office than to serve and obey them.’ (Hume: 415) And in a famous sentence, Hume draws the radical conclusion: ‘Tis not contrary to reason to prefer the destruction of the whole world to the scratching of my finger.’ (Hume: 416) But if Hume’s radical scepticism as to the influence of reason on individual volition was correct, are we condemned to go wherever our passions and impulses take us? Kant was at pains to point out that human life possesses an ethical quality which cannot be grounded in the manifold desires and urges that individuals happen to find themselves in. Any viable notion of moral conduct must presuppose a capacity to reason and, critically, assumes a notion of freedom that we cannot deny anybody else. Freedom is a prerequisite of ethical behaviour. Kant thought that Hume had overlooked an essential dimension of the relationship between passions and human action. Although he granted that desires and impulses that are contingent upon circumstances may generate the goals of human conduct whether or not we pursue a once identified object of desire or a certain course of action crucially depends on its compatibility with the most fundamental moral law, the categorical imperative, which is ‘†¦ the principle to act on no other maxim than that which can also have as an object itself as a universal law.’ (Kant: 63) This leads Kant to conclude that freedom is the most fundamental category of social existence for those that are capable of rationality. As Scruton notes, for Kant ‘freedom is the presupposition for the applicability of the moral law’ (Scruton: 234). However, if this was all there is to Kant’s argument he would only have presented us with another reason why we ought to assume that individuals act freely when they behave morally. First of all, Kant reminds us that as humans we are at once part of the world of nature and of the world of reason. As to our impulses and desires that we happen to have, we are part of the animal world. We understand them in terms of necessity, generated by physical circumstances. No moral standards apply. It matters little whether we approve of being hungry or sleepy; ethical maxims cannot alter our state of affairs in any remarkable way. As such, human beings are subject to the natural laws that govern the domain of nature. We cannot suspend these laws even if we disapprove of them. On the other hand, however, man is a creature that is capable of rational thought and as such he has given himself laws to live by. These laws are often arbitrary, but Kant intends to show that there is at least one law that regulates human life which possesses universal applicability. The issue Kant has to confront is one that echoes Rousseau’s dilemma of how to reconcile laws and freedom. For Kant, his question is under which conditions individual agency can impose norms and rules onto itself while still remaining to be unfettered by extraneous circumstances. For Rousseau it was the question of identifying those laws of society that would accommodate individual (external) freedom with legal constraints. Kant challenges us first of all to consider under which conditions we can speak of a free will. He argues that human volition must be self-determined to be plausibly considered as free. If the will is subject to extraneous circumstances or influences if ceases to express itself freely in our actions. In this scheme of things, freedom can only be preserved if the moral laws that individuals endorse and accept as their guidance are such that they can accept them voluntarily (Kant: 57-58). Kant notes that man may come to approve of various rules of social co-operation for a variety of reasons, some of them ethically more obscure than others. What may appear to be actions done out of benevolence may turn out to be done with a personal benefit in mind. Kant is adamant that we cannot accept any rules for spurious or ethically nebulous reasons. Accepting a maxim out of selfishness does not produce a good, but a morally flawed norm. Equally, adopting a morally hazy rule even with best intentions cannot lay the foundations of a just society. In a brilliant analytical sequence Kant guides us to the solution of this problem: The only truly good entity, he argues, is a good will (Kant: 14-15). It is only determined by itself and so accepts no other authority than itself. In fact, it produces true authenticity of human conduct. Now, any inherently good will must recognise that there is only one maxim that reflects accurately the notion of an ethical norm; Kant writes: ‘Act only on that maxim whereby thou canst at the same time will that it should become a universal law.’ (Kant: 38) Kant’s argument provides us with a formidable justification for assuming that freedom is the necessary and indispensable condition of human existence given that man has the capacity to act upon the commands of reason: that is the categorical imperative. He writes: ‘Now I affirm that we must attribute to every rational being which has a will that it has also the idea of freedom and acts entirely under this idea. †¦ (The individual) must regard itself as the author of its principles independent on foreign influences. Consequently, [any individual] must regard itself as free.’ (Kant: 65) For Kant, being human is tantamount to being free. Only freedom guarantees that we can plausibly speak about moral responsibility. And although Kant’s argument in favour of the categorical imperative has attracted much criticism, his idea of freedom and individual autonomy still offers us a remarkable benchmark in normative ethical theory. David Hume (1989). A Treatise of Human Nature. [1739]. Edited by L.A. Selby-Bigge. Oxford: Clarendon. Immanuel Kant (1949). Fundamental Principles of the Metaphysics of Morals. [1785]. Indianapolis New York: Liberal Arts Press. Jean-Jacques Rousseau (1973). The Social Contract and Discourses. [1762] Translated and introduced by G.D.H. Cole. London: Everyman. Roger Scruton (1997). Modern Philosophy. A Survey. London: Arrow.

Push Technology Essay -- Technology

Five thousand years ago, with the invention of writing, the human species took its first jump towards a technological civilization. The second one came only in the last half of the XV century, with the invention of press, by Gutenberg. The possibility of reproducing thousands of identical copies of the same document has taken to the creation of the first magazines and journals, a revolutionary concept. But this occurred in a slow and grad way: the first scientific journal pressed, for example, was released just in 1665, 200 years after. Although, until today this is the basis of a huge system of divulgation in science and technology, counting more than 300 thousand journals around the world, and that has changed little during the three last centuries. Nowadays, this scenario is about to change radically, with the development of global computer networks, like Internet, mainly after the explosion of the WWW (World Wide Web), that allows for high quality electronic publishing, with texts, images, videos, etc. Together, these two technologies have a revolutionary potential many times superior than the invention of press. WWW is based in an active model of search for information, this is, in traditional Internet navigation, denominated "pull" technology, the user obtains information from different WWW sites, searching for topics of his interest. The huge volume of documents and sites available make the information obtention possible only after a refined search procedure, made with one of the mechanisms existent for this purpose, making the process difficult. Besides that, the continuous growth of available information and the necessity of individually visiting the sites is, slowly, making access infeasible, both from the user's... ...t with the certainty that the information is delivered to the correct user and according do a desired profile. In the near future, the integration of "push" technology with traditional media like television, cinema and radio will be possible, changing radically not only the mass media, but also business and marketing strategies involved. Finally, the use of information technologies based in Artificial Intelligence will be used to improve information filters both in client and server side, in a manner that software robots and other autonomous agents will send the subscriber's computer only news and articles that satisfy highly specific interests criteries. Electronic references PointCast Corporation: http://www.pointcast.com Marimba Corporation: http://www.marimba.com Microsoft Corporation: http://www.microsoft.com Push Council: http://www.aitek.com/PUSH/

The Untraditional Life of William Faulkner :: Biography Biographies Essays

The Untraditional Life of William Faulkner The South is tradition, in every aspect of the word: family, profession, and lifestyle. The staple to each tradition in the south, and ultimately masculinity, is to be a southern gentleman. William Faulkner, a man with the most southern of blood running through his veins, was everything but a southern gentleman. A southern gentleman is to support his family, to be the sole provider. To support something such as a family is a great responsibility, and it is expected of a southern gentleman to be able to handle that responsibility. Faulkner did not have a secure job or income. He wrote poetry and attempted novels, but had not found success as a writer. He did not aspire to find a different occupation that could bring stability to his financial situation. Though it was not certain that William could support a family, he did have a child with his wife and supported the daughter from his wife’s first marriage. It was not a happy family, as most southern families have been portrayed. Faulkner drank and continued to internalize himself from the rest of the family, as he had always internalized himself from society. The drinking was not and everyday thing, but his family said that it would happen for long periods at a time. He would drink for a few weeks until he wanted to sober himself up. A southern gentleman is to be the father figure in his family, to teach his children right from wrong, but William seemed to be concerned with only himself. When he drank, he was not there for his family. When his daughter asked him not to start drinking because her birthday was coming up, Faulkner said to her â€Å"no one remembers Shakespeare’s daughter.† Tradition in the southern family did encompass â€Å"tough love†, but a southern gentleman is to be an example to his children, with characteristics embodying responsibility and honor. William Faulkner was neither responsible nor honorable. As WWI began, William, who had always been interested in flying, was eager to volunteer in the Royal Canadian Air Force. To protect and defend one’s country is a duty of a southern gentleman, one of the most masculine aspects of the south. Though he did not see any battle first hand, he came back to Mississippi, walking with a limp caused by a supposed metal plate in his head, and elaborate stories of plane crashes and battle.

The Earth is surrounded by a covering of air which we call the atmosphe

The Atmosphere The Earth is surrounded by a covering of air which we call the atmosphere. It reaches over 384 miles from the surface of the earth, so we can only see what occurs in the troposphere and the tropopause. Nitrogen – 78% Oxygen – 21% Argon – 1% Carbon Dioxide – 0.035% Other – 0.00253% The above information highlights what the atmosphere is composed of. It is clearly visible that Nitrogen is the dominant gas as over three quarters of the atmosphere is made up of this. It is very fortunate that Nitrogen is not a very reactive gas because if it were not, that atmosphere would be far less stable and extremely dangerous. The pie chart refers to the atmosphere today but it was not always made up of these percentages. It seems that carbon dioxide levels have raised a lot and these rises may be down to many causes such as the industrial revolution and constant deforestation. Natural functions of the atmosphere The atmosphere is vital for life and acts as a life support system to al...

The Relationship Between the Roman Authorities and the Early Church

When early Christians began to read the Bible and follow The Way, they begun to walk the path and carved which was uniquely Christian history. Eusebius was a bishop, an overseer in the tradition of the apostle Paul and John among others. It is amazing that his detailed account during those days were not only preserved for posterity, but that he had the tenacity, the determination and the strength to identify and record people and events he was facing during his day. These were people who were being murdered or whose bodies were mutilated.We read of characters and personalities – different people – from all walks of life who had a common experience. They became disciples of Jesus the Christ and almost all of them faced the same fate which is martyrdom. The Roman government was more than a backdrop for the setting of the story that Eusebius had written. It was an empire whose rule was not to be underestimated for its intelligence and its equally determined goal to subdue all who seemed and were planning to defy that rule. Yet for some observers today, the Rome seemed tolerant for the practice of any religion.The question then remains: why did Rome persecute the Christians? And why do we look back to this period to call it as the era of the martyrs? Looking back at Rome’s policy we see the Imperial authorities as remarkably lenient over the religions of those they have power over with. If the national religions of those territories would include homage to the emperor among their other ceremonies or rites, Rome almost never get in the way. As long as the Roman authorities think that the Christians were just a sect of the Jews, followers of Jesus enjoyed immunity much like the rest of them.But upon realizing that this supposed Jewish sect were up to more than being very fanatical about their monotheistic beliefs and that this â€Å"sect† not just incessantly talked about Jesus but intended to make Christians out of the entire population o f the empire and that this was spreading like wildfire, Rome changed its stance and started to view the Christians as threats. From time to time, the Christians felt the wrath of the Roman authorities as well as its very own people. The experiences of every named disciple or follower were more than horrific.These Christians suffered torture of every kind invented by fellow human being. The main cause of the loathing and revulsion that the early Christians felt from within the Roman society lies in the former’s distinctive life-style. The real Christian is a person who is essentially unlike the rest. Problem is that men always view with suspicion people who are different. Then and now, conformity not distinctiveness, is the way to a trouble-free life. So the more early Christians took their faith seriously the more they were in danger of crowd reaction.Thus, simply by having a lifestyle in accordance with the teachings of Jesus, the Christian was a constant unspoken condemnati on of the pagan way of life. As Eusebius in his time was observing and reacting to the events that took place, it was not that the Christians went about all or any forms of censure to disparage the government and those who were not with â€Å"The Way,† nor were they consciously self-righteous and a cut above all others. It was clear then that the Christian ethic was a criticism of the pagan way of life.Fundamental to Christianity and primary cause of continual hostilities was the Christian’s rejection of the pagan gods. The Romans expectedly had deities for every facet of living- be it for harvest (sowing and reaping), or perhaps something to do with the weather. The Christians denial of them marked the Jesus’ followers as enemies of the state. There were also social events which were of themselves reasons that Christians object because they were inherently wrong like the gladiatorial combats which were intolerably inhuman.The picture is clear that it was hard f or Roman society to co-exist with a totally distinct and seemingly opposing lifestyle that to annihilate or hurt to discourage these Christians was the order of the day. This widespread hatred for early Christians helps explain the persecution in the Roman hands. There were outbursts of bloodshed which became common. Another obvious and related reason why Christians were persecuted was the slanders disseminated against them. This was both implied and detailed in the reports made to Eusebius from named persons. Once these defaming stories started they could never be stopped.The secrecy with which Christian gatherings were held aroused suspicions and bred distrust. Charges include sex orgies, cannibalism and even ridiculously, atheism. But the more serious supposed crime the early disciples of Jesus committed surfaced from the tradition of emperor worship. This practice sprang from the merits of Roman rule; what was popularly called Pax Romana or the Roman peace. The resulting peace w as a deep and heartfelt gratitude to the spirit of Rome. This was an easy step from the spirit of Rome to become the goddess of Roma and eventually evolved into one final symbol of Roman spirit which was the emperor.Any allegiance other than to that of the Roman emperor slowly spelled intimidation or threat to their governance. No other sect or group posed this threat during these times than the â€Å"fanatical† Christians who were loyal to their â€Å"Lord. † In one sense, Rome was right because there was a real conflict of loyalties. The Christians never compromised by saying â€Å"Caesar is Lord. † From then on, Roman authorities branded them as a band of potential revolutionaries threatening the existence of the Roman Empire and were then deserving of expulsion or death.

SegmentationTargetMarketpaper

Nordstrom core roof of shoppers, and those which the Nordstrom brand identify strongly with is the high-end luxury shopper. Nordstrom offers a high-quality lineup of designer apparel, shoes, accessories, and cosmetics for the discerning shopper (Explainer. 2013). The second group of shopper Nordstrom caters to is the Nordstrom Rack shopper or those with more modest budgets and spending habits (Explainer. 2013). Regardless of budget, both groups of shoppers desire the high-quality design of Nordstrom product offerings and the perception of that quality that the company creates in its brands Explainer. 013). The average shopper profile is married female, age 25-55. Nordstrom product lines cater to various sub-sets of shoppers. Top Shop and Brass Plum departments appeal to the single female shopper aged between 16-35 while The Rail and Men's departments cater to both single and married males in the age range of 16- 70. Nordstrom Point of View/Narrative and Studio 121 department appeal t o both married and single professional women aged 25-65 where as Savvy and TAB departments cater to the single or married females age 20- 40. Nordstrom designer departments;Individualist, Via C and Collectors, appeal to the high-end luxury shopper ranging in age of 25-65. Numerous other departments make up Nordstrom product offering and appeal to all shopper with its array of products including children's, shoes, cosmetics and home offerings. Cryptographic The Cryptographic make-up of Nordstrom shoppers are as diverse as its products lines. One common core true of all shopper is the desire for quality products and responsive, personalized customer service. Nordstrom shoppers lead active lifestyles; engage in physical and social activities.Nordstrom shoppers are often involved in various civic and social groups, have a wide array of personal and professional interests and family oriented. From the pediatric customer to the geriatric, Nordstrom shoppers have full schedules leaving lit tle time for wasted shopping. A shopping trip to Nordstrom for many is as much a social event as a functional one. Nordstrom recognizes this and has thus put into place its Cafe, a full-service restaurant offering a fine dining experience including alcoholic beverages.The design of the cafe allows shoppers to reconvene with family and friends while providing spite from the task of shopping. Nordstrom clients are fashion forward, discerning and demanding when it comes to quality products thus, the higher than average price point of Nordstrom product offerings is readily accepted. Geographic Nordstrom currently has 225 stores located in the IIS and recently, Canada. (Van Regimens. 2013). Nordstrom began its journey in Seattle, Washington and cornered the market in the western region.Nordstrom has since Opened locations in Minnesota Mall of America, Chicago and most recently, Manhattan in New York, and Canada, gaining more prominence on the East Coast. Strategic placement of Nordstrom stores capitalizes on cities with residents of greater spending power and affluence, maintaining continuity of the brand's identity of high-end luxury and service. Behavioral Characteristics Nordstrom shoppers desire a shopping experience that gives them a sense of importance, status and luxury.Due to their hectic and active lifestyles, the average Nordstrom shopper desires a hassle free quality shopping experience. Quality driven and willing to pay the extra few dollars to feel a sense of esteem and gratification, Nordstrom capitalizes on these behavioral heartsickness by encore raging salespeople to cultivate relationships with their clients thus providing shoppers a sense of trust and loyalty to the brand. Through the provision of personal shoppers, personal stylists and the ability to make an appointment for shopping needs, these behavioral needs are satisfied.The Nordstrom approach is ingenious as it also provides the ability to monitor and track the customers spending habits a nd trends allowing Nordstrom to base its products offerings and service with little margin of error or loss of profits. In addition to being fashion forward, the average Nordstrom shopper is tech savvy. In doing so, Nordstrom has cultivated a strong sense of community among shoppers thus creating a network effect that drives repeat sales (Explainer. 2013). According to Van Regimens (2013), â€Å"Nordstrom objective is to create the finest customer engagement both online and in the traditional store space.

Humour

Humour comes from a tool that was constructed with a two boards so when one comedian hit another with it, the boards slapped. One of the most popular comics in this category was Charlie Chaplin. The most characteristic feature of physical humour is that comedians rarely use words to provoke laughter. Mimes use the motion of their bodies to narrate a humorous story. The origins of mime date back to the ancient Greece, but then the performances were not necessarily silent, because sometimes the performers sang or delivered recitations. In medieval times the art of mimes developed and in the nineteenth century the mime became recognizable by his speechless posture and the white mask. Clowning is, in a way, a connection between slapstick comedy and mime, as it uses both methods to produce laughter in the addressee. Contemporarily, the clown is a figure identified by various costumes, distinctive makeup, a red nose, and colourful wigs, but clowning has its roots in ancient times, where clowns were mainly bald, with bizarre hats and plaid uniforms. The earliest clowns performed buffoonery, practical jokes, juggling, or parody and these things have not changed much throughout the ages. Harlequin and Pierrot are two of the most popular types of clowns, who owe their existence to commedia dell'arte. Notably, their characteristics originates in sixteenth and seventeenth century European culture. 1.4. Commedia dell'arte Commedia dell'arte as one of the oldest forms of professional theatre flourished in the 16th century through to the 18th century, in Italy. The performances were mainly improvised, and the actors were professionals. They used costumes and masks that illustrated their character. Their comical models were identified by their appearance or behaviour. Initially, they were supposed to represent inhabitants of a specific part of Italy and even included the dialect of a distinct area. Additionally, the relations between characters onstage were similar to these between actors in their lives and because of this fact, the plays were more credible.

Loans & Advances of Dhaka Bank

Home  » Business  » Economics  » Report on Procudure for Distributing Loans and Advance at Dhaka Bank Report on Procudure for Distributing Loans and Advance at Dhaka Bank on March 20, 2013 in Economics [pic][pic]1. a. Introduction Internship program is a pre-requisite for acquiring M. B. A. degree. Before completion of the degree, a student must, undergo the Internship program. As the classroom discussion alone cannot make a student perfect in handling the real business situation, therefore, it is an opportunity for the students to know about the real life situation through this program.The program consists of three phases: 1. The orientation of the Intern with the organization, its function and performance. 2. The project work pertaining to a particular problem or problems matching with the Intern’s area of specialization and organizational requirement. 3. The report writing to summarize the Intern’s analysis, findings and achievements in the proceeding of the fo llowings. 1. b. Objectives of the Report: The report has two objectives: 1. General Objective 2. Specific Objective 1) General objectives of the report: The general objective of the report is to complete the internship.As per requirement of MBA program of Chittagong University, a student need to work in a business organization for two months to acquire practical knowledge about real business operations of a company. 2) Specific objective of the report: The specific objective of this report is to find and analyze the Credit facilities (its outstanding, recovery, classified loans etc), approval and monitoring process of Dhaka Bank Limited, Local office. It will also include gathering an idea about the securities behind the loan facilities and issuing different bank guarantees.The detail objectives of my study are as follows- †¢   To access the credit structure of banks in practice. †¢   To measure the effectiveness of the selected banks in utilization of their available deposit and resources. †¢   To identify the relationship with their customers. †¢   To identify the loan recovery performances of the selected banks. †¢   To find out the deposit utilization problems. †¢   To find out the implementation of credit risk management policy of the selected banks. †¢   To find out the implementation of the credit risk grading manual of Bangladesh bank by the selected banks. To find out the unsound credit according to the credit risk management policy. 1. c. Methodology Methodology of the study: This report is mainly prepared by the secondary sources of information & some few primary sources of information like – O Direct observation. O Information discussion with professionals. O Questioning the concerned persons. The secondary sources of my information – O Annual reports of DBL. O Credit rating report of DBL by credit rating information & services limited. O Desk report of the related department. O Credit manual information. O Different reference books of the library.O Some of my course elements as related to this report. 1. d . Scope of the study: This report will cover an organizational overview of Dhaka bank. It will give a wide view of the different stages of credit appraisal system of Dhaka bank, starting from the loan application to Loan disbursement and the comparison between standard and existing credit appraisal system of a Bank. The study is organized as follows: †¢   Credit profile of the selected banks. †¢   Loan recovery. †¢   The nature of default. †¢   Credit management and guidelines. †¢   Analysis of the findings and recommendation. 1. e.Limitations There are some limitations I had to face while preparing this report. It is very difficult to collect some of the important data and information. There is some information very secret and the Bank didn’t want to provide this information. But this information may help to build a go od report. Another limitation is availability of the data. The bank doesn’t have sufficient documents of the interest amount they collect from different loans. For this there is no specific profit calculation of the credit department. So, These kinds of limitations I faced while preparing the report. . a. Dhaka Bank Limited DHAKA BANK LIMITED was incorporated as a public limited Company on 6th April 1995 under the company act. 1994 and started it’s commercial operation on June 05, 1995 as a private sector bank. The bank started its journey with an authorized capital of Tk. 1,000. 00 million and paid up capital of Tk. 100. 00 million. The strength of a bank depends on its management team. The Employer in Dhaka Bank is proud to have a team of highly motivated, well-educated and experienced executives who have been contributing substantially in the continued progress of the bank.The marketing activities at the Dhaka Bank are very implicit and vast comparing to that of oth er bank in the country today. The Philosophy of the bank is â€Å"EXCELENCE IN BANKING†. Dhaka Bank is always willing to offer new product features to the client. Besides the applications of these products or services are prepared in a very modern way so that the service can be provided in least time required. The Credit facilities approved by Dhaka Bank are increasing day by day because of its well-organized and trained management and also well-equipped facilities.In recent time banking sector becomes very competitive and without giving good and attractive facilities and service no bank can survive in this time. Dhaka Bank is also trying to provide good service to keep going with this competition. 2. b. Mission Statement: To be the premier financial institution in the country providing high quality products & services backed by latest technology and a team of highly motivated personnel to deliver Excellence in Banking. 2. c. Vision Statement: At Dhaka Bank, we draw our inspi ration from the distant stars.Our term is committed to assure a standard that6 makes every banking transaction a pleasurable experience. Our endeavor is to offer you razor sharp sparkle through accuracy, reliability, timely delivery, cutting edge technology, and tailored solution for business needs, global reach in trade and commerce and high yield on your investments. Our people, products and processes are aligned to meet the demand of our discerning customers. Our goal is to achieve a distinction like the luminaries in the sky. Our prime objective is to deliver a quality that demonstrates a true reflection of our vision- Excellence in Banking. . d. Slogan: Excellence in Banking. 2. e. Company Philosophy The motto or the philosophy of the Bank is â€Å"Excellence in Banking†. Whether in Personal, Corporate, Treasury or Trade transactions of Dhaka Bank Limited is committed to provide the best. Meeting the demand of the bank’s discerning customers is not the sole object ive. The Bank endeavor to deliver a quality that makes every transaction a pleasurable experience. Dhaka Bank feels that, if they can meet maximum clientele requirements in less time with efficiency, then they will be able to accomplish a successful business in the world of banking.Their main objective is – they want to provide every single customer service available in today’s banking procedure for their clientele. Thus they can guarantee the excellence in banking to their valuable customers. 2. f. Company Activities and Performances Paid up Capital The paid up capital of Dhaka Bank Limited amounted to Tk. 1,547 million as on December 31, 2008 which was Tk. 100 million when the Bank started its operation. The total equity (capital and reserves) of the Bank as on December 31, 2008 stood at Tk. 3125 million. Deposits A strong deposit base is critical for success of a bank.During the years the Bank has mobilized a substantial amount in deposits in transactional and savin gs account. The deposit base of the bank continued to register a steady growth and stood at Tk. 48,731 million excluding call as of 31 December 2008 compared to Tk. 41,554 million of the previous year registered a 17% growth. Investment Dhaka Bank has diversified its investment portfolio through Lease Financing, Hire Purchase, and Capital Market Operations besides the investment in treasury bills and Prize Bonds. The emphasis on high quality investment has ensured the bank to maximize its profit.Dhaka Bank Limited is a member of the Dhaka Stock Exchange and Chittagong Stock Exchange. A specialized unit of the Bank, the Investment Division manages the Bank’s portfolio and actively participates in the screen-based on-line trading of both the Stock Exchanges. Profit Dhaka Bank Limited registered an operating profit of Tk. 2,010 million in 2008 compared to Tk. 1,183 million in 2007 making a growth of 70%. After all provisions including general provisions on unclassified loans, pr ofit before tax stood at Tk. 1,531 million. Provision for tax for the year 2008 amounted to Tk. 27 million. The net profit of the bank as on 31 December 2008 stood at Tk. 704 million compared to previous year’s Tk. 580 million making growth of 21%. Earning per share (EPS) was Tk. 46. 06 in 2007 compared to Tk. 45. 17 in 2007. Loans and Advances The Bank implemented the system of credit risk assessment and lending procedures by stricter separation of responsibilities between risk assessment, lending decisions and monitoring functions to improve the quality and soundness of loan portfolio. The Bank recorded a 17 % growth in advances with a local loans and advances portfolio of Tk. 9,972 million at the end of December 2008 compared to Tk. 34049 million at the end of December 2007. As of 31 December 2008, 96. 85 % of the total Bank’s loan portfolio was regular while only 3. 15 % of the total portfolio was non-performing as compared to 1. 64 % of 2007. Bank made required pr ovision as on 31 December against performing loans as per rate and classification norm provided by Bangladesh Bank (se note-2c). The volume of non-performing loans stood at Tk. 1,258 million in 2008 from Tk. 554 million in 2007. Of the total loan provision of Tk. 04 million, Tk. 465 million was general provision, which was 51 % of total provision. The rest Tk. 439 million was against the classified accounts. 1. Non-performing loan 2. Regular Loan A wide range of business industries and sectors constitutes the Bank’s advance portfolio. Major sectors where the Bank extended credit include steel and engineering, ship breaking, edible oil, sugar, housing and construction, pharmaceuticals, chemicals, electronic and automobiles, energy and power, service industries, trade finance, personal or consumer credit, leasing etc.The Bank continued to support Small and Medium Enterprises (SME) and expended credit facilities to them through its SME Cell. Sector wise allocation of advances re veals a well-diversified portfolio of the Bank with balance exposure in different sectors. High concentration sectors are textile and garment industries with outstanding of Tk. 7,524 million, housing and construction with Tk. 4,093 million, food and allied industries with Tk. 2,949 million and engineering and metal including ship braking with Tk. 1,903 million as at 31 December 2008. Customer ServiceCustomer is in the core of everything a service-oriented company does. Accuracy, reliability, and timely delivery are the key elements of the Dhaka Bank’s service. Well-qualified and experienced officials always prepared to provide efficient, personalized and quality service man Dhaka Bank Limited. The banks prime objective is to provide high quality product and services to the customers. The bank also performs according to the needs of its corporate clients and provides a comprehensive range of financial services to national and multinational companies. International Trade & Fore ign ExchangeInternational trade constituted the major business activity conducted by the bank. Dhaka Bank offer a full range of trade finance services, namely, Issue, Advising and Confirmation of documentary Credits; arranging forward Exchange cover; Pre-shipment and post- shipment finance; Negotiation and purchase of Export bill; Discounting of bills of Exchange, Collection of bills etc. In the year 2008, Dhaka Bank Limited was active in extending services to their valued clients related with import business. As of 31st December 2008 the import volume was Tk. 49,496 million compared to the volume of 2006 for Tk. 6,277 million marking as increase of 7% from the last year. Dhaka Bank Limited experienced sound growth of export business in 2007 from 2006. The volume of export business rose to Tk. 31,081 million from Tk. 23,269 million in 2007 showing an increase of 34%. Branches Dhaka Bank has opened already 41 branches in different Cities, Places and areas in Dhaka and also in Chittag ong, Sylhet, Narayangonj, Norshingdi and Savar. This shows the banks commitment to provide services to their valued customers through an extensive branch network at all commercially important places across the country.They also have planned to open more branches in the sort coming year. These branches are well decorated and well secured with the new technologies. Human Resources and Training The driving force behind Dhaka Bank has always its employees. The bank recognizes that professional development of its people is vital to establishing workers as a provider of quality service. In this regard, the bank have expanded its training facilities and set up a full-fledged training institute at SaraTower, Motijheel, Dhaka. Environmental Management ProgramThe Bank’s Environmental Management Program stipulates adherence with environmental, health and safety regulations and guidelines, refraining from business that impairs the ability of future generations to meet their own needs, as sessing an mitigating risks concerning environment, health and safety issues that the bank undertake. Community Service The Bank extends assistance to socio-cultural and community development programs. During the years under review, the Bank had provided support to a number of community welfare programs. At present Dhaka Bank assist the National Hokey Federation. Technologies, Products and ServicesDhaka Bank’s products and services are regularly upgraded and realigned to fulfil customer expectation. Their delivery standards are constantly monitored and improved to assure the highest satisfaction. The bank specially emphasizes on the service base on technologies. Because the life became very fast and people want take service within sort time. The consumer-banking sector of the Bank deals with number of tasks related to various services. The products that are recently being offered by the bank are as follows –   Accounts: Dhaka Bank provides the Savings Account; Curren t Account; Short Term Deposit; Fixed Deposit Receipt etc. or the customers. ATM (Automated Teller Machine): Dhaka Bank ATM Cards enable their valued customers to carry out a variety of banking transactions 24 hours a day. Credit Cards: Dhaka Bank Credit Card has earned wide acceptability and reputation within a very short time. The Bank has developed the process such that it can deliver the Credit Card within only 7 days against security; for unsecured cards it takes only 10 days. Phone banking: Dhaka Bank phone banking service allows customers to conduct a variety of transactions by simply making a phone from anywhere.Customers can inquire about the balance in their account, check transaction details or request for account statement by fax or e-mail. Locker: By this facility customers can put their valuable things such as jewelry items, valuable papers etc. for the safety reason. Consumer Credit: Dhaka Bank also provides consumer credit facilities with very attractive terms and con ditions. Industrial Loan: Loans issued for purchasing equipment, inventories, plants, payrolls etc. Any Branch Banking: By this customers can transact from any branch insight the country.Utility Bill Payment: Customers can pay different utility bill such as phone bill, credit card bill etc. 3. a. Bank: Banks are among the most important financial institutions in the economy. They are the principle source of credit (loanable fund) for millions of households (individuals and families) and for most local units of government. Moreover, for small businesses ranging from grocery stores to automobile dealers, banks are often the major source of credit to stock the shelves with merchandise or to fill a dealer’s showroom with new goods.When the business and consumers need financial information and financial planning, it is the bankers to whom they turn most frequently for advice and council. 3. b. Types of Bank Loans: The banks make a wide variety of loans to a wide variety of custome rs for many different purposes-from purchasing automobiles and buying new furniture, taking dream vacations and pursuing college education to constructing homes and office buildings. Bank loans may be divided into the following broad categories of loans, delineated by their purpose:   1.Real Estate Loans, which are secured by real property-land, buildings, and other structures- and include short-term loans for construction and land development and longer-term loans to finance the purchase of farmland, residential, and commercial structures etc. 2. Financial institution Loans, including credit to banks, insurance companies, finance companies, and other financial institutions. 3. Agricultural Loans, extended to farm and ranch operations to assist in planting and harvesting crops and to support the feeding and care of livestock. 4.Commercial and Industrial Loans, granted to business to cover such expenses as purchasing inventories, plant, and equipment, paying taxes, and meeting payr olls and other operating expenses. 5. Loans to Individuals, including credit to finance the purchase of automobiles, homes, appliances and other retail goods to repair and modernize homes, cover the cost of medical care and other personal expenses, either extended directly to individuals or indirectly through retail dealers. 6. Lease Financing Receivables, where the bank buys equipment or vehicles and leases them to its customers.Among the categories, the largest volume is in the real estate loans. The next largest category is commercial and industrial loans. 7. Asset-based Loans, loans secured by a business firm’s assets, particularly accounts receivable and inventory. Installment Loans, credits that is repayable in two or more consecutive payments, usually on a monthly or quarterly basis. 9. Letter of credits, a legal notice in which a bank or other institution guarantees the credit of one of its customers who is borrowing from another institution. 0. Retail Credit, smaller -denomination loans extended to individuals and families as well as to small business. 11. Term loans, credit extended for longer than one year and designed to fund longer-term business investments, such as the purchase of equipment or the construction of new physical facility. Term Loans are designed to fund long-and medium-term business investments, such as the purchase of equipment or the construction of physical facilities, covering a period longer than one year.Usually the borrowing firm applies for a lump-sum loan based on the budgeted cost of its proposed project and then pledges to repay the loan in a series of installment. 12. Working Capital loan, provide businesses with short-run credit, lasting from a few days to about one year. Working Capital Loans are most often used to fund the purchase of inventories in order to put goods on shelves or to purchase raw materials; thus, they come closest to the traditional self-liquidating loan described above.Frequently the Working C apital Loan is designed to cover seasonal peaks in the business customer’s production levels and credit needs. 3. c. Credit Analysis: The division of the bank responsible for analyzing and making recommendations on the fate of most loan applications is the credit department. This department must satisfactorily answer three major questions regarding each loan applicat 1. Is the Borrower Creditworthy and how know that? The question must be dealt with before any other is whether or not the customer can service the loan- that is, pay out the credit when due, with a comfortable margin for error.This usually involves a detailed study of six aspects of the loan application: – Character   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   🙠 well defined purpose for loan request and a serious intention to repay), Capacity   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   🙠 proper authority to request for the loan and legal standing to sign a loan agreement), Cash   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   🙠 ability to generate enough cash, in the form of cash flow), Collateral   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   🙠 enough quality assets to provide adequate support for the loan), Conditions   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   🙠 aware borrower’s line of work and also economic conditions), and Control   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   : All must be satisfactory for the loan to be a good ne from the lender’s point of view. 2. Can the loan agreement be properly structured and documented so that the bank and depositors are adequately protected and the customer has a high probability of being able to service the loan without excessive strain? The loan officer is responsible to both the customer and the Bank’s depositors and stockholders must seek to satisfy the demands off all. This requires, first, the drafting of a loan agreement that meets the borrower’s need for funds with a comfortable repayment schedule.The borrower must be able to comfortably handle any required loan payments, because the bank’s success depends fundamentally on the success of its customers. If a major borrower gets into trouble because it is unable to service a loan, the bank may find itself in serious trouble as well. So, the bank’s loan officer must be a financial counselor to customers as well as a conduit for their loan applicants. 3. Can the bank perfect its claim against the assets or earnings of the customer so that, in the event of default, bank funds can be recovered rapidly at low cost and with low risk?While large corporations and other borrowers with impeccable credit ratings often borrow unsecured, with no specific collateral pledged behind their loans except their reputation and ability to generate earnings, most borrowers at one time or another will be asked to pledge some their assets or to personally guarantee th e repayment of their loans. Getting a pledge of certain borrower assets as collateral behind a loan really serves two purposes for a lender.If the borrower cannot pay, the pledge of collateral gives the lender the right to seize and sell those assets designated as loan collateral, using the proceeds of the sale to cover what the borrower did not pay back. Secondly, collateralization of a loan gives the lender a psychological advantage over the borrower. Because specific assets may be at the stake a borrower feels more obligated to work hard to repay his or her loan and avoid losing valuable assets. The most popular assets pledged as collateral for bank loans are- Accounts Receivable, Factoring, Inventory, Real Property, Personal Property, Personal Guarantee etc. . d. Loan Review: Banks today use a variety of different loan review procedures; nearly all banks follow a few general principles. These include: 1)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Carrying out reviews of all typ es of loans on a periodic basis- for example, every 30, 60, or 90 days the largest loans outstanding may be routinely examined, along with a random sample of smaller loans. 2)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Structuring the loan review process carefully to make sure the most important features of each loan are checked. )  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Reviewing most frequently the largest loans, because default in these credit agreements could seriously affect the bank’s own financial conditions. 4)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Conducting more frequent reviews of troubled loans, with the frequency of review increasing as the problems surrounding any particular loan increase. 5)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Accelerating the loan review schedule if the economy slows down or if the industries in which the bank has made a substantial portion of its loans develop significant problems. 3. e. Handling Problem Loans:Inevitably, d espite the safeguards most banks build in their lending programs, some loans on a bank’s books will become problem loans. Usually this means the borrower has missed one or more promised payments or the collateral pledged behind a loan has declined significantly in value. The process of recovering the bank’s funds from a problem loan situation- suggests the following key steps: 1)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Always keeps the goal of loan workouts firmly in mind: to maximize the bank’s chances for the full recovery of its funds. )  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The rapid detection and reporting of any problems with a loan are essential: delay often worsens a problem loan situation. 3)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Keep the loan workout responsibility separate from the lending function to avoid possible conflicts of interest for the loan offers. 4)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Estimate what resources are ava ilable to collect the troubled loan. 5)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Loan workout personnel should conduct a tax and litigation search to see if the borrower has other unpaid obligations and many other processes. CREDIT MANAGEMENT: POLICY & PROCEDURESIntroduction: In general, a banking system aggregates a high number of low value deposits to fund enterprises with a smaller number of high value loans. This intermediation through a well functioning bank helps to achieve some economic benefits for the depositors, the borrowers and above all — the economy in the following ways: The depositors: †¢ Higher return †¢ Lower risk †¢ Greater liquidity The borrowers: †¢ Availability of fund for all credit worthy borrowers †¢ Thus allows to enterprises grow and expand The economy Economic growth is maximized as the banks channels the country’s scare financial resources into those financial opportunities with maximum return †¢ Thus profit able enterprises receive funding, grow and expand. †¢ Loss making enterprises are refused funding and allowed to go out of the business – thus saving the economy from drainage of resources. The bank must allocate loans effectively for achieving these broad objectives of the economy and the pre-requisites are: †¢ Banks are able to identify reliably those enterprises that can repay their loans. Banks allows loans to those enterprises likely to yield high return and deny loan to those likely to yield low or negative returns. While identifying profitable enterprises, the bank – in fact – identifies risks of the borrower and business in order to allow loan in the context of its risk – return profile. Credit risk management (CRM) is a dynamic process, which enables banks to proactively manage loan portfolios. Four major areas of CRM are: †¢ Policy – lending guidelines †¢ Procedure – evaluating viability and associate risks of b usiness enterprises. Organizational structure – segregation of risk taking and risk approving authority †¢ Responsibility – decision making and accountability A clear understanding of the four areas are crucial for maximizing bank’s earning by carefully evaluating credit risks and attempting to minimize those risks. 4. a. Policy objectives: 1) Maximize Bank’s earning from loan portfolio 2) Improve quality of loan portfolio to maximize earnings by: a) To keep non-performing assets below 10% b) Arresting new loans to become classified. ) Utmost emphasis on loan sanctioning is to be given in order to improve quality of the loan portfolio. Credit facilities are to be considered solely on viability of business / enterprises / project / undertaking having adequate cash flows to adjust the loans, and management capacity of the borrower to run the business profitably. 4) Evaluate credit risks before sanctioning, which may hamper generation of the projected c ash flows of the borrower and might delay or hinder repayment of bank’s loan. ) Monitoring continuously performances of the financed projects / business / enterprises will be bank’s main trust for ensuring repayment of the loan, and receiving early warning (EL) for taking timely corrective measures. 6) Price the loans on the basis of loan pricing module of the bank focusing on risk rating of the borrower. 7) Strict adherence to Bangladesh Bank’s policy guidelines 4. b. Lending guidelines As the very purpose bank’s credit strategy is to determine the risk appetite of the bank, so bank’s focus should be to maintain a credit portfolio to keeping in mind of our risk absorbing capacity.Thus its strategy will be invigoration loan processing steps including identifying, measuring, containing risks as well as maintaining a balance portfolio through minimizing loan concentration, encouraging loan diversification, expanding product range, streamlining securi ty, insurance etc. as buffer against unexpected cash flow. Types of credit facilities Bank will go for: †¢ Term financing for new project and BRME of existing projects (Large, Medium, SE) †¢ Working capital for industries, trading, services and others (Large, Medium, SE) †¢ Import and export Finance Lease Finance †¢ Consumer Finance †¢ Fee Business †¢ Islamic mode of finance Single borrower/ Group limits / Large Loans / Syndication The limit for single client / group under one obligor concept will be as under: 1. The total credit facilities by a bank to any single person or enterprise or organization of a group shall not any point of time exceed 35% of the bank’s total capital subject to the condition that the maximum outstanding against fund based financing facilities (fund facilities) shall not exceed 15% of the total capital. 2. Non-funded credit facilities, e. g. etter of credit, guarantee etc. can be extended to a single large borrower. But under no circumstances, the total amount of the funded and non-funded credit facilities shall exceed 35% of bank’s total capital 3. However, in case of export sector, single borrower limit shall be 50% of the bank’s total capital. But funded facilities in the form of export credit shall not 15% of the total capital   Large loan 1. Loan sanctioned to any individual or enterprise or any organization of a group amounting to 10% or more of bank’s total capital shall be considered as large loan. 2.The bank shall be able to sanction large loans as per the following limits set against their respective classified loans: |Rate of net classified loans |The highest rate fixed for large loans against bank’s total | | |loans & advances | |Up to 5% |56% | |More than 5% but up to 10% |52% | |More than 10% but up to 15% |48% | |More than 15% but up to 20% |44% | |More than 20% |40% | 3. In order to determine the above maximum ceiling for large loans, all on-fund ed credit facilities e. g. letter of credit, guarantee etc. shall also be considered to arrive 50% credit equivalent. However the entire amount of non-funded credit facilities shall be included while determining the total credit facilities provided to an individual or an enterprise or an organization or a group. 4. A Public Limited Company, which has 50% or more public share holdings, shall not be considered as an enterprise / organization of any group. 5. In case of credit facilities provided against government guarantees, the aforementioned restrictions shall not apply 6. In the case of loans backed by cash and excusable securities (e. g.FDR), the actual lending facilities shall be determined by deducting the amount of such securities from the outstanding balance of the loans. 7. Banks shall collect the information to the borrowers from Credit Information Bureau (CIB) of Bangladesh Bank before sanctioning, renewing or rescheduling loans to ensure that credit facilities are not pro vided to defaulters. 8. Banks shall perform Lending Risk Analysis (LRA) before sanctioning or renewing large loans. If the rating of an LRA turns to be â€Å"marginal†, a bank shall not sanction large loan, but it can consider renewal of an existing large loan taking into account other favorable conditions and factors. However, if the result of an LRA is unsatisfactory, neither sanction nor renewal of large loans shall be considered. 9.While sanctioning or renewing large loan, a bank shall assess borrower’s overall debt repayment capacity taking into consideration the borrower’s liabilities with other banks and financial institutions. 10. A bank shall examine its borrower’s Cash flow Statement, Audited Balance Sheet, income Statement and other financial statement to make sure that the borrower has the ability to repay the loan. Term Financing and Syndication Like large volume of loan, long term financing is one of the riskiest areas of the bank because of long duration of repayment. Long duration casts uncertainties on repayment as variable with which financial and other projections are made very widely in a dynamic global economic scenario.Thus utmost care is to be exercised while considering long term financing †¢ Long term relationship with the borrower is prerequisite for considering term financing †¢ Due diligence is to be exercised for accessing viability of the projects in terms of Management ability, Market gap, Technical suitability, Financial viability. †¢ Information on projects should be adequate and reliable †¢ Minimum information for project viability analysis is to be given. Syndication Syndication means joint financing by more than one bank to the same clients against a common security basically, to spread the risk. It also provides a scope for an independent evaluation of risk and focused monitoring by the agent / lead bank.In syndication financing banks also enter into an agreement that one of t he lenders may act as Lead Bank, who has to co-ordinate the activities at various stages of handling the proposal i. e. appraisal, sanction, documentation sharing of the security, disbursement, inspection, follow – up, recovery etc. it may also call meetings of syndication members, whenever necessary to finalize any decision Discouraged business types In the context of present economic situation vis-a-vis government policy as well as market scenario, the following industries and lending activities are considered as discouraged †¢ Military Equipment / Weapon Finance †¢ Highly leveraged Transactions †¢ Finance of speculative business Logging, Mineral Extraction/ Mining or other activity that is ethically or environmentally sensitive †¢ Lending to companies listed on CIB black list or known defaulters †¢ Counter parties in countries subject to UN sanctions †¢ Share lending †¢ Taking an equity stake in borrowers †¢ Lending to holding compan ies †¢ Bridge loans relying on equity / debt issuance as a source of repayment Loan facility parameters Size: Funded: maximum 15% of Bank’s total capital : Funded + Non Funded: 1)  Ã‚  Ã‚  Ã‚  Ã‚   Shall not exceed 35% of bank’s total capital 2)  Ã‚  Ã‚  Ã‚  Ã‚   Maximum 50% of Bank’s total capital for export sector. (Funded facility shall also not exceed 15% of bank’s total capital). Tenor: Short term: Maximum 12 months Medium Term: Maximum 5 years   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Long Term: Maximum 15 yearsMargin: To be determined by Banker Customer relationship and nature of business. Security: Return of Banks funding to any business is ensured primarily on the cash flow of the business. A smooth flow of cash in the business requires efficient management competence in conducting the business in a given market. However as the market never remains stable owing to various uncontrollable factors, the continuity of well- managed business cash flow is difficult to visualize in the long run. As such to ensure realization of Banks finance in case of any eventuality, other adequate security coverage deemed necessary with a view to protects interest of the bank. General Covenants Bank shall not extend any credit facility to any defaulter as defined in the bank company act 1991(clean CIB report required. ) †¢ The borrower shall have valid Trade license, †¢ In case of partnership firm there must be a partnership deed duly notarized / registered. †¢ Limited Company must be registered with the Registrar of Joint Stock Company. †¢   Directors and other loans will be subordinated to Dhaka Banks loan. Directors loan (if any) will be interest free and no dividend will be declared/paid before full adjustment of Term Loan of Dhaka Bank. †¢ The borrower shall submit annual audited/un-audited/projected financial statements regularly where applicable. †¢ The borrower shall maintain cur rent ratio of not less than 1. 5 times.. The borrower shall obtain and maintain in full force and effect all Government of Bangladesh (GOB) authorizations, licenses and permits required to implement and operate Borrowers business. †¢ The borrower shall maintain all insurance as detailed in Loan Documents. †¢ The borrower shall maintain satisfactory swing/turnover of the limit in case of continuous loans/advance. †¢ The borrower shall pay all fees , duties , taxes etc, that are due to the Government of Bangladesh (except where waivers or deferrals have been granted by Government of Bangladesh) when due. †¢ The borrower shall not create any charge, mortgage or any encumbrances of any other security interest over any of its assets without the prior written consent of the Bank. The borrower shall not avail any credit facility from other source without the prior written consent of the bank. †¢ The borrower shall not make any amendment/alteration in the Companyâ⠂¬â„¢s Memorandum & Articles of Association without obtaining prior approval of Dhaka Bank Ltd in writing. †¢ The borrower shall not furnish any corporate guarantee to other firm/company without Banks permission. Events of Default Bank will have the right to call back the Loan/Advance in the event of default under the following circumstances: †¢ Failure to repay †¢ Breach of Covenants of the loan agreement. †¢ Bankruptcy or liquidation or insolvency event affecting the Borrower. †¢ Occurrence of a material adverse change in the financial position of the Borrower. Any change in GOB directives, which in the opinion of the Lenders would prejudice the Borrowers ability to meet the financial obligations in respect of this facility, †¢ Any security interest over any asset of the Borrower becomes enforceable or any execution or distress is levied against or any person is entitled to or does take possession of the whole or any part of the assets or undertakings . Facility Wise Charge Documents %3 |L/C |LTR |BG |TL |CC Hypo/CC Pledge (Key Stock to | | | | | |Bank) | |1. Promissory Note|1. Promissory Note |1. Promissory Note |1. Promissory Note |1. Promissory Note | |2. Letter of |2. Letter of Undertaking |2. Letter of Undertaking |2. Letter of Undertaking |2.Letter of Undertaking | |Undertaking | | | | | |3. A/C Balance |3. A/C Balance confirmation |3. A/C Balance confirmation |3. A/C Balance confirmation |3. A/C Balance confirmation Slip | |confirmation Slip |Slip |Slip |Slip | | |4. Letter of |4. Letter of Continuity |4. Letter of Continuity |4. Letter of Continuity |4. Letter of Continuity | |Continuity | | | | |