Gene Cloning And Bacterial Transformation - 1118 Words

Introduction: In this lab, gene cloning and bacterial transformation was conducted. Bacteria are single celled microorganisms. They are simple in structure and have no nucleus with linear chromosomes. Bacteria are essential to life, and reproduction of other bacteria which helps play a role in decomposition of organic matter and the cycling of elements such as nitrogen and carbon, which are elements necessary to live. Due to this, plants and animals can use nitrogen to create nucleic acids along with amino acids, which are the essential building blocks of DNA. They also help break down food in the digestive system, which allows us to obtain the nutrients we need, and bacteria helps develop our immune system to fight other illnesses that†¦show more content†¦The bacterium being observed was E. coli, which codes for green fluorescent protein. E. coli is a bacterium that normally lives in the intestines of humans and animals alike, and can cause infection. One hopes to observe a glow from a green fluorescent protein (GFP) which is typically made by a jellyfish. This will be made possible by the additional presence of arabinose, which acts as the inducing agent. The inducing agent influences the transcription of the GFP and activates the transcriptional promoters. A promoter allows a foreign gene to fall into place much easier resulting in gene expression. It is expected that the combination of the plasmid, with the Lysogeny Broth (LB) and the arabinose (ARB) will transform the bacteria, and allow for growth of the bacteria in the presence of the antibiotic ampicillin (AMP) along with an observable glow under ultraviolet (UV) light. Hypothesis: †¢ The Agar plate with the LB/AMP/ARB in the +pGLO will be the only plate to display growth and a glow when compared to the other agar plates. Materials: †¢ Water bath set at 42 degrees Celsius †¢ Pipette tips †¢ Micropipetter (P20) †¢ 50 mM CaCl2 solution †¢ pGLO plasmid †¢ Sterile loop †¢ Competent E. coli HB101 †¢ 37-degree incubator †¢ Sterile LB agar plates (LB, LB/amp, and LB/amp/ara) †¢ Sterile transfer pipette Methods: 1. After labeling each of the tubes, 250 mL of CaCl2 was added to all the tubes andShow MoreRelatedAbstract. Taq Polymerase Is Essential In Polymerase Chain1446 Words   |  6 Pagesamplification of an unknown gene. The unknown gene is then ligated into a vector plasmid, which is placed in a bacterium Escherichia Coli to transform and multiply. Ultimately, identification and characterization of the unknown gene is done using electrophoreses and gel imaging. Cloning techniques such as the one performed have been used for many years to isolate genes from a variety of species. Isolation of unknown genes serves many purposes. Nucleic acid sequence of the unknown gene can be derived whichRead MoreEssay On Mutation1657 Words   |  7 Pagesthey often produce stop codons. These stop codons generate shorten, non-functioning proteins (Text 208). With these mutations in mind how would the insertion of three nucleotide sequences in a gene compare to the insertion of a single nucleotide? The insertion of a single nucleotide can affect a gene sequence in a more deleterious fashion, his is because it generates frameshifts mutations in the reading frame. These mutations are ones that often produce stop codons, putting a halt to the creationRead MoreThe Community of Microorganisms that Reside in the Epithelia of Humans1034 Words   |  5 PagesThere is a large number of species of microbes found on the human body. This bacterial organism are found in the skin, mouth, or nose. This lab consisted of the collection of skin bacterial organisms and amplification of the 16s rRNA to construct a small molecular phylogeny of the human body microbiome, or the community of microorganisms that reside in the epithelia of humans. This information could only be acquired through processes such as DNA extraction, amplification of specific genetic targetRead MoreGene Regulation For Safety Assessment946 Words   |  4 PagesGene Regulation for Safety Assessment: In addition to the mph gene, few gene regulations are implemented as safety assessment for the product. In the recombination process of making this product, Ecoli plasmid has been used as a vector to insert mph gene into host bacteria. We use a plasmid vector from E.coli that has conserved sequence for Plac promoter and gef suicide gene. Plac promoter is positioned upstream of mph gene to regulate its expression. Later, Plac promoter will be activated by inductionRead MoreThe Use Of Transformation As Becoming Increasingly Popular Used By Genetic Engineers1027 Words   |  5 PagesIntroduction The use of transformation is becoming increasingly popular in use by genetic engineers to bring new genetic material into a wide range of life forms. In bacterial transformation, DNA (whether plasmid or chromosomal) is taken from a contributor cell to a beneficiary cell as a section of exposed DNA. The giver cells should first be lysed to allow the release of the DNA. After discharge from the contributor cell, huge chromosomal DNA is effectively separated into smaller parts of exposedRead MoreThe Creation of Synthetic Life Forms1216 Words   |  5 Pagesthe production of an artificial autonomous self-replicating organism under in-vitro conditions from biochemicals. Synthetic life experiments and creation of synthetic cells gives us an unparalleled insight into the origin of life, the fundamental genes and essential genetic functions required for life and may someday allow the manipulation of the roles of cells and organisms to benefit humanity and the environment. Advancements into synthetic life remain a controversial topic among today’s leadersRead MoreThe General Properties Of Restriction Enzymes Essay1758 Words   |  8 Pagessingle-stranded ends called a blunt cut, example by Eco RV, as shown below. Any DNA molecule, from viral to human, contains restriction-enzyme target sites purely by chance and therefore may be cut into defined fragments of a size suitable for cloning. Thus, if two different DNA molecules are cut with the same restriction enzyme, both will produce fragments with the same complementary sticky ends. The single-stranded overhang from one fragment can be joined with any other fragment of DNA, includingRead MoreSubcloning Of Fungal CDNA From PBK Lab1878 Words   |  27 PagespUC19 using fungal gene CIH    Introduction A plasmid is a circular, double stranded DNA molecule that replicates independently of the chromosome DNA within a cell.pUC19 is one of the most commonly plasmid cloning vector used due to its high copy replication number (approx. 100 copies per cell), ampR (ampicillin resistance gene) andterminal fragment of ÃŽ ² -galactosidase (lac Z). It is circular double stranded and it has 2686 base pair length from which 54 are multiple cloning sites polylinker thatRead MoreLab Partners : Sage Gibson And Vanessa Song1491 Words   |  6 PagesUndergrad TA: Haley linnet burdge Bio 118-A60 November 10, 2015 Genetic Transformation Introduction There were two parts of this lab and part 1 was; Transforming E. coli with the pGreen plasmid and Part 2; PCR and Electrophoresis. For this lab, a genetic transformation procedure was performed to introduce a plasmid to another cell and when the cell reproduces it will make a new copy of the plasmid. And genetic transformation is a process whereby genetic materials that are carried by individual cellsRead MoreMolecular Genetics 16s Lab Report Essay2106 Words   |  9 PagesMolecular Genetics 16s Lab Report Abstract A highly conserved gene will be used to identify a prokaryotic species isolated from the body. Fundamental lab techniques will be also explored and utilized, such as amplifying using PCR, cloning, and transforming the gene into a host cell. DNA electrophoresis and specific substrate plating will serve as analysis check points. The final product will be sequenced and compared to similar species to observe phylogenetic relationships. Intro

Old Testament Of The Christian Faith - 1160 Words

Raymond Tarango Old testament reflection This Old Testament coarse has given me new insight on the origins of the Christian faith. It has given further explanation on stories I only knew vaguely of. I have a clearer view on the stories of the Old Testament. From god flooding the world to the adversity of the Hebrew people. The Old Testament coarse has given me new insight on the way I see the Christian faith. In the Old Testament there are many occurrences when god does the bizarre to get his point across. For instance, The flood that obliterated all life from earth except for one family: â€Å"Behold, I am bringing the flood of water upon the earth, to destroy all flesh in which is the breath of life, from under heaven; everything†¦show more content†¦And Rahab was saved and accepted by the Israelites why couldn’t the other women and children change and accept god also? I know we don’t have all the answers but its difficult to comprehend god takes harsh actions sometimes. The story of the Hebrew people is pretty amazing they fail over and over again to fulfill god’s wishes but even though they fail got protects them and keeps his promise. The study of the Hebrew people in Old Testament clearly reveals that God has a special place for the people. One verse from Paul from the New Testament now that I have read and studied the old testament is more clear on describing the blessing of the Hebrew people by god and why they are so important , â€Å"Theirs is the adoption as sons; theirs the divine glory, the covenants, the receiving of the law, the temple worship and the promises. Theirs are the patriarchs, and from them is traced the human ancestry of Christ, who is God over all, forever praised! Amen† (rom 9:4:5). The summary explains the promises and events that were given to the Jews by god. The Jews were unique people who were created by God to be the waterway of divine revelation to the world. From them would come the prophets, the writers of the Old Testament and Jesus Christ. The Jews were given the Law of Moses,

Feudalism Essay Example For Students

Feudalism Essay Feudalism, contractual system of political and military relationships existing among members of the nobility in Western Europe during the High Middle Ages. (It had nothing to do with blood feuds; the two words came to be spelled alike in the 17th century, but have no etymological relationship.) Feudalism was characterized by the granting of fiefs, chiefly in the form of land and labor, in return for political and military servicesa contract sealed by oaths of homage and fealty (fidelity). The grantor was lord of the grantee, his vassal, but both were free men and social peers, and feudalism must not be confused with seignorialism, the system of relations between the lords and their peasants in the same period. Feudalism joined political and military service with landholding to preserve medieval Europe from disintegrating into myriad independent seigneuries after the fall of the Carolingian Empire. When the German invaders conquered the western Roman Empire in the 5th century, they destroyed the professional Roman army and substituted their own armies, made up of warriors who served their chieftains for honor and booty. The warriors fought on foot and lived off the countryside. As long as they fought one another, they needed no cavalry. But when the Muslims, the Vikings, and the Magyars invaded Europe in the 8th, 9th, and 10th centuries, the Germans found themselves unable to deal with these rapid-moving armies. First, Charles Martel in Gaul, then King Alfred in England, and finally Henry the Fowler of Germany provided horses for some of their soldiers to repel the raids into their lands. It is not certain that these troops fought on horseback, but they could pursue their enemies faster mounted than on foot, and as stirrups were then coming into use, it is probable that cavalry actions began to take place in this same period. They were certainly occurring in the 11th century. W ords/ Pages : 312 / 24

Wordsworth Reveals a Personal Affinity free essay sample

Throughout Wordsworth poems, â€Å"my heart leaps for joy and† I wandered as lonely as a cloud† he displays a very deep, spiritual and emotional connection with nature. The poems are focused on the natural beauty of the ‘rainbow’ and ‘daffodils’. In both poems he reveals a personal affinity with nature. This is evident through the interplay of poetic techniques throughout both poems. Living most of his life in rural England, Wordsworth was very much against the Industrialisation and the French Revolution. These two events had a significant impact on his poetry because of its corrosive effect on the individual, the community and the landscape. He strived to immortalise the lost rural landscape in his poetry and does this through his two poems â€Å"my heart leaps up† and â€Å"I wandered as lonely as a cloud†. ‘I wandered as lonely as a cloud’ reflects the inherit connections between man and nature. Wordsworth uses a variety of figurative language to communicate this idea. We will write a custom essay sample on Wordsworth Reveals a Personal Affinity or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Hyperbole, visual imagery and personification are important techniques used as they indicate Wordsworth’s love for nature. In the first line of the poem he uses personification in representing himself figuratively as a cloud. Wordsworth then proceeds to personify the daffodils as humans, describing the daffodils as ‘fluttering and dancing in the breeze’ He also personifies the daffodils as a ‘jocund company’, suggesting the flowers have feelings just as humans do. Again, there is the suggestion of unity between man and nature when Wordsworth describes that ‘a poet cannot be gay, in such a jocund company’.

Water Table essays

Water Table essays Many people assume that water is an unlimited natural resource. Is this true? Although water appears abundant, recent circumstances indicate that it is seriously vulnerable to pollution and depletion. Throughout this essay we will examine what ground water is, how it is important in the water cycle, how its contamination can affect us, and what we can do to protect our ground water from contamination. Ground water is the water found in spaces between soil particles and rocks, within cracks of the bedrock. Ground water constitutes approximately 4% of all water in the hydrologic cycle. (Averett, McKnight, 1986) Some ground water can be found beneath the land surface in most of the United States. Because of its availability and general good quality, ground water is widely used for household needs and other purposes. Water can be found beneath the ground almost everywhere. About 97% of the worlds fresh liquid water is ground water. The quality and amount of ground water that is available varies from place to place. Major reservoirs of ground water are referred to as aquifers. Aquifers in some of the provinces extended underground far beyond the areas where they are mapped at or near the land surface. (http://capp.water.usgs.gov/gwa/ch_1/L-text1.html) These aquifers occur in two types of geologic formations. Consolidated formations are those composed of solid rock with ground water found in the cracks. Unconsolidated formations are composed of sand and gravel, cobblestones, or loose earth or soil material. The amount of ground water in an unconsolidated formation varies depending on how closely packed the solid materials are and how fine-grained they are. Sand and gravel, and cobblestone formations are generally high-yield aquifers, whereas, finer-grained earth materials may have low yie lds. Aquifers and aquifer systems can be grouped into three categories, depending on the degree o...

Does your resume pass this key checklist

Does your resume pass this key checklist Life is better with checklists: Highly Organized, Bilingual Administrative AssistantSummary:  This is a short list (or brief paragraph) of the key bullet points that make you most qualified for this particular job. This is a place where you can really tailor the content to the job description, to grab the attention of the reader (or robot reader seeking keywords). You can also use it to highlight your most relevant skills. A summary works best for job seekers who have deep experience or skills in their field.Objective:  This is a short statement letting the reader know your goal(s), coupled with your top-level qualifications. It’s basically a formula: Strong traits + The role you want to fill + Good fit for the company = Objective. The objective works best for people without a lot of experience, or experience in a different field (changing careers).This section sets the tone for the rest of your resume, and can help make the difference between someone reading through the r est of the resume or tossing it aside.The Meat-and-Potatoes Section (Skills and Experience)This is the heart of your resume, so it’s extra important to make sure you’re not leaving anything out. You should include:Your Skills:  Whether you put these before or after your experience (depending on which you want to emphasize for the reader), it’s important to include a standalone section of bullet points describing your relevant skills. Be sure you’re only including the most relevant ones. Your abiding love and talent for playing the tuba may be a huge part of your life, but if it’s not directly relevant to the job for which you’re applying, leave it out.This section should include any applicable hard skills (specific job-related technology or certifications) and soft skills that can be directly applied to the job at hand.Work Experience:  These are separate listings for your most relevant jobs, working backwards through your career. Each w ork experience section should include:Job titleCompany nameDates worked4-6 bullet points outlining your most relevant duties there. As much as possible, describe achievements over simple tasks or responsibilities. You should also be choosy about which jobs you include. If you’ve already held two or three full-time jobs in your career, you can start leaving out part-time jobs or internships that you held in the past. If you need to include a job so it doesn’t look like you have large gaps, you can do that, but you don’t have to include too much information about your job unless it’s relevant to the one for which you’re currently applying. You can use those instead to highlight particular skills you used/developed.The Education Certifications SectionEducation is one of your best assets in a job search, and you should sing it loud and proud on your resume. Just make sure you’re including the most relevant education information, moving back in reverse order. If applicable, you should include:Professional training programs:  If you’ve completed a non-degree course or training program related to your field, include it here.Professional certifications:  If you have a license or certification in your field, include it here.College, university, or professional training program:  Unless you’re in high school, or you’re specifically asked about it, there’s no need to include information about your high school education here. You also don’t need to include graduation dates if you don’t want to do so- employers are forbidden from asking you about your age, so if you feel like this would be offering too much info, you can just include the school name and the degree you received.The Nice-to-HavesIf you have room after including everything outlined above, then there are some other pieces of info you can include on your resume, if they’re applicable to the job.Volunteer experience :  Are the skills or experience from this volunteer position relevant to the job you’re seeking? If so, include. If not, leave it out.Hobbies:  Again, make sure these are relevant to the job for which you’re applying.The Style ChecklistOnce you’ve got all your core info included in your resume, it’s time to take another pass and see how you’ve done, writing-wise. Is your resume:Saved as a standard document format?  Is your resume saved as an uncommon file extension, or one that most computers will readily recognize (like .doc or .pdf)?A short read?  Brevity is key here. We’ve all heard the â€Å"one page† rule, but if you simply have too much experience for one small page, make sure you haven’t gone overboard, length-wise.Organized in a clear and readable way?  The resume should be laid out in a clear, relatively uncrowded outline, so that the reader can easily follow what’s going on. If you’re seeing ma ssive chunks of narrative text, go back and revise it into more manageable bullets. Margins should be no less than 1 inch all around, for readability. Your font should also be consistent all the way through, easy to read, black, and between 10-12 points.Full of action verbs?  Strong verbs can not only grab interest, they can help you cut down on your overall word count by getting straight to the heart of what you want to say.Customized for the job?  Generic resumes are not fun to read, and a one-size-fits-all behemoth may not get you the interview opportunity you want. Take the time to make sure that your skills and experience especially are directly relevant to the job/company for which you’re applying.Proofread?  This one is non-negotiable. No matter how eagle-eyed you may be, we all miss small mistakes in our own writing occasionally. Find a trusted friend or family member to check your resume for mistakes.Taking the time to check these elements help ensure that your final product ends up looking just as smooth and professional as you are.The Un-ChecklistIf you have any of these things on your resume, time to take them out. You should not include:Pictures or visual elements:  Unless you’re doing a portfolio or a visual resume, don’t illustrate your basic resume. And you definitely don’t need to include a picture of yourself.Lies:  Just don’t do it! If anyone questions you or catches you in a falsehood, I don’t think you need me to tell you that it would not be good for your hiring prospects for this job.References:  If the hiring process gets to the point where you need to provide references, you’ll be asked for them. There’s no need to include them upfront and take up valuable space on your resume.References to age, gender, or family status  This information really isn’t necessary, and could introduce potential discriminatory elements, even though employers are forbidden from aski ng you about them.So†¦there you have it, your checklist for building a full and successful resume. Does your resume check all the right boxes?

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

Science - Essay Example This burning of the wick and gaseous wax is an example of a chemical change. Thus, a chemical change (or chemical reaction) is a change in which one kind of matter is changed into a different type of matter. Some other examples of chemical changes include the rusting of your car, setting your shoe on fire or digesting food. All of these materials combine chemically with another material , and cannot be separated by any physical means. A physical change is a change in the form of matter but not in its identity. The dissolving of one thing into another thing is an illustrative. For instance, dissolving sugar into water. The water and the sugar retain their chemical identities and can be separated by physical means. One more example - ice melting to water. Ice and water are both H20. The identity of the matter is not changed, just the state that it is in. Remember: a physical change is when no new chemical substance is formed. As it has already been mentioned, a chemical reaction occurs when two or more chemical substances are mixed together and change into new substances. For this to happen, the bonds between atoms and molecules must break up and then re-form in different ways. Because the bonds can be strong, energy (usually in the form of heat), is often needed to start a reaction. The new substances (products) have different properties from those of the original substances (reactants). Remember: when a new chemical substance is produced, the change is known as a chemical change. This does not mean that new elements have been made. In order to make new elements, the nuclear contents must change, but there are magnitudes of difference in the amounts of energy in ordinary chemical reactions compared to nuclear reactions. The alchemists, in their efforts to change less expensive metals to gold, did not have the fundamental understanding of what they were attempting to do to appreciate the difference. What happens to matter when it undergoes chemical changes According to the law of conservation of mass, atoms are neither created, nor destroyed, during any chemical reaction. Thus, the same collection of atoms is present after a reaction as before the reaction. The changes that occur during a reaction just involve the rearrangement of atoms (Chemtutor, 2003; Gallagher, 2001). Chemical reactions are represented on paper by chemical equations. For example, hydrogen gas (H2) can react (burn) with oxygen gas (O2) to form water (H20). The chemical equation for this reaction is written as: The '+' is read as 'reacts with' and the arrow means 'produces'. The chemical formulas on the left represent the starting substances, called reactants. The substances produced by the reaction are shown on the right, and are called products. The numbers in front of the formulas are called coefficients (the number '1' is usually omitted). Because atoms are neither created nor destroyed in a reaction, a chemical equation must have an equal number of atoms of each element on each side of the arrow (i.e. the equation is said to be 'balanced'). Here are some more examples of chemical reactions with the corresponding chemical equations: a silver spoon tarnishes. The silver reacts with sulfur in the air to make silver sulfide, the black material we call tarnish: 2

Ethical leadership that relates to the book three cup of tea Essay

Ethical leadership that relates to the book three cup of tea - Essay Example Tens of thousands of children in Afghanistan and Pakistan have seen the light of the day through his organization. Educate a child, you have educated a generation. Educate a generation, you have educated a country! Revolution through the pen is mightier than the revolution through the gun. The former will come to stay and enrich the society. The later, in the ultimate analysis, will destroy the humanity. Many failed revolutions, bear testimony to this fact and pages of history are daubed in the resultant bloodshed on account of such mindless revolutions. Mortenson was out to conquer K2, the world’s second tallest mountain. That failed, was a personal disaster, he was rather terminally ill caught in a very difficult situation. Residents of a small village in Pakistan, Korphe came to his rescue. He recouped his health with a determination that resulted in a precedent-shattering silent revolution in the field of education. One man’s determination and will had fructified to benefit countless impoverished children. A small project has since grown up into the Central Asia Institute that has demanded attention of all right thinking people across the world. He achieved the impossible in an impossible region. Mortenson recalls his initial experience in the land of so-called Muslim extremists. â€Å"Mortenson was unsure how the mullah felt about having an infidel in the village, an infidel who proposed to educate Korphe’s girls. Sher Takhi smiled at Mortenson and led him to a prayer mat.†(p.142) Humanity had triumphed over religious bigotry! I entirely agree with the viewpoint of Mortenson that America or any other country for that matter must fight Islamic fundamentalism, through collaborative efforts by fighting poverty and providing access to education, including educating the girl-child. This is the only option to permanent peace and to terminate mindless military adventures. I find a very interesting observation about the mind-set and cul ture of the people in the backward mountain area where Mortenson was operating. â€Å"If you want to thrive in Baltistan, you must respect our ways,† Haji Ali said, blowing on his bowl. â€Å"The first time you share tea with a Balti, you are a stranger. The second time, you are an honored guest. The third time you become family.†(p.150) This is the significance of Three Cups, which is a great cultural decoction, that blends people of diverse origin, diverse beliefs and diverse religious affiliations, together. Philosophy and spirituality are not about the scriptures and lengthy text books alone. That which is not practical cannot be spiritual either! Every spiritual idea must stand the test of practicability. To speak about good ideas is good; but to go good work is the best option for humanity. Oratory is not experiencing. Mortenson has shown to the world that a school in a village is more beneficial to the humankind than, lengthy research papers on education read in the air-conditioned auditoriums. The best revolution is silent. The first chapter of the book titled â€Å"Failure† is the foundation stone for the â€Å"educational empire† that Mortenson was to build during the next twelve years, in the region that perhaps gave him his second life. He was spearheading his campaign of education in a region where the literacy rate was 3%. Children wrote on dirt with sticks. The very interesting part of the book is, according to me is the transformation of Mortenson to a

How Do Maya Angelou and Grace Nichols Communicate What It Means to Be a Black Woman in Todays Society Essay Example for Free

How Do Maya Angelou and Grace Nichols Communicate What It Means to Be a Black Woman in Todays Society Essay How do Maya Angelou and Grace Nichols communicate what it means to be a black woman in today’s society? In this essay I will compare two poems. The two poems I will compare is Maya Angelou’s ‘Still I rise’ to Grace Nichols’ ‘Of course when they ask for poems about the ‘realities’ of Black women’. I think Maya Angelou’s ‘Still in rise’ has a rather different message to Grace Nichols’ poem. I think they are interesting to compare because Maya Angelo is lively and spirited about writing a poem about how strong black women are and how it is to be a black woman in today’s society. Whereas, Grace Nichols is more disgruntled and irritated about writing her poem. The first poem I will scrutinize is Maya Angelo’s ‘Still I rise’. The title ‘Still I rise’ shows strength and optimism as it is a short but strong meaning title. It means that Maya Angelou will always defend herself. It makes you feel no matter what you do to Maya Angelou she will just get back up again. This makes you believe that Maya Angelou is a strong person. In the first verse, Maya Angelou starts off using an accusatory tone when she says ‘you may write me down in history with you bitter, twisted lies’. This gives the impression that she is talking to white people when she says this. I think this means she doesn’t like what white people have wrote in their history books about black people’s past as it is over exaggerated and a lot of lies. Near the end of the first verse, she uses the simile ‘but still like dust, I’ll rise’. This is once again reinforcing the idea that she is a strong black woman. By using this simile she is also comparing herself and her race to dust and this suggests that you can’t get rid of black people and that they are everywhere you go, as dust is hard to get rid of and it is everywhere as you can’t control or capture it. In the second verse, Maya Angelou is more lively and spirited when she says ‘Does my sassiness upset you? ’ This suggests that she is getting more confident as she progresses through the poem. She also uses two rhetorical questions to grip the reader’s attention ‘why are you beset with gloom? Also, in the second verse she shows more confidence when she uses the phrase ‘‘cause I walk like I’ve got oil wells pumping in my living room. ’ The use of informal language ‘cause’ shows this. This phrase also makes me think that she feels powerful, rich and important. In the third stanza, she uses a lot of similes such as ‘Just like moons and like suns’ I think she has put this simile in because it is natural imagery and she wants black people to be described as this because it is not only a part of nature but the sun and moon are beautiful; vital to the world. In the next line she continues with the natural imagery by saying ‘With certainty of tides’. This is also natural imagery as she is comparing the black race with tides. I think she chose to use the natural imagery of tides here because not only is it once again vital to the world but it also creates a sense of power as tides and waves are incontrollable, powerful and constant and waves always come back so I think maybe she was also trying to reinforce the idea that she and her race are strong. However in the fourth verse, she stops using natural imagery and changes into an interrogative mode when she says ‘did you want to see me broken? Bowed head and lowered eyes? ’ Here she uses negative lexis such as ‘broken’ to create an image of a typical slave to the reader. I think she does this here as she wants to show people that herself and her race are not slaves and that you should not dwell on their past and think of them as slaves. In the fifth stanza, it’s more about her culture when she uses the simile ‘cause I laugh like I’ve got gold mines’ I think she is implying here that she is not rich in wealth but she is rich in culture and in spirit. I think this changes the atmosphere to a more relaxed mood as she is embracing her culture. Also, when she says ‘diggin in my own back yard’ it gives you a sense of black soulful language and reinforces the fact that she embraces her culture and language. However, in stanza six, it is a more harsh verse as she uses an accusatory tone once again. She creates an atmosphere of fury and annoyance by using onomatopoeia and harsh sounds such as ‘cut’ and ‘kill’. I think this was put in so people would remember the way white people treated slaves and how violent they were towards them. I think she is trying to give an insight of how it must have felt to be a slave and make people feel guilty for treating them so unfairly. At the end of this verse, she repeats herself ‘But still, like air, I’ll rise’. I think she does this to not only make people believe she is a strong, black woman, but to also make the poem memorable for the reader and make it stand out. Also, when she uses the simile ‘like air’ it makes you think that you can’t hurt her because she is ‘like air’ and you can’t cut or hurt air. I think air was a good simile to use here because air rises and I think Angelou was implying that she will rise above all expectations people have for her, black women and black men. Also, by using the word air Maya Angelou is trying to indicate that herself and the black race are now free as black people are now free from slavery. In the seventh stanza, the atmosphere changes and you can see Angelou’s pride in her culture and race. I think Maya Angelou is trying to create a different image for black women as she says ‘does my sexiness up set you? . This suggests that she is trying to make a new image for black women that is sexy and more elegant because before they were seen as only slaves. In the third and fourth line of this verse, she says ‘that I dance like I’ve got diamonds, at the meeting of my thighs’. By using the word diamond she is implying that black women are rare, precious and tough as those are the main characteristics of a diamond. I t hink she is suggesting black women should be treasured and kept safe as they are too precious to lose. In the last stanza, Angelou breaks free from the previous set structure of the quatrains and it’s a more symbolic structure; it does not have a pattern to it. I think this is because it is supposed to imitate the slaves breaking free. Also, it has a random lay out and I think this is reinforcing the idea that you can’t capture black people like slaves anymore and that black people shouldn’t be treated unfairly anymore. The last verse also has more energy to it as it speeds up more. I think this is because when black people broke free from slavery they were lively and more spirited and had more pride in their culture and race. Also, in the last verse, Angelou uses metaphors instead of similes now such as ‘I’m a black ocean, leaping and wide’. I think she changes from similes to metaphors in this verse because she has gained more confidence and pride. It has also become a more happier, lively verse again as she uses more positive lexis such as ‘daybreak’ and ‘wondrously clear’. This is because she is happy and proud of being black and wants black women and men to be perceived as happy and lively. She has not only broken free from the quatrains in this last verse, but she has also broken free from the AB rhyming sentences and is now using rhyming couplets as well as repetition of the words ‘I rise, I rise, I rise’ to show confidence, power and pride of what it means to be a black woman. Overall, throughout the whole of the poem, I believe that Maya Angelou was trying to change the perception of black women and make black women feel as confident and as proud as Angelou does of being black. Throughout the poem Angelou’s tone differs. As in the beginning, although she started with an accusatory tone, she went on and used positive lexis such as ‘hopes springing high’ this then changed from a interrogative mood to a more lively and spirited atmosphere. However, as the poem continues she starts to use negative lexis again and the interrogative mode re-appears making the poem seem more harsh to the reader, although, when you read on the poem ends in a more lively and happier tone as she uses more absolute phrases and starts to use metaphors rather than similes now; ‘I’m a black ocean, leaping and wide’. Angelou’s use of sound imagery is interesting as she makes the reader imagine not only pretty, natural images, but harsh, cruel images as well. For instance, ‘Just like moons and like suns’ and ‘Shoulders falling down like teardrops’. I think she does this so we all can see what she wants black people to be perceived as and also what black people used to be perceived as. Overall, I think Maya Angelou wrote this poem to change the perception of black women in today’s society. The second poem I will analyse is Grace Nichols ‘Of course when they ask for poems about the ‘realities’ of black women’. This is a poem with a slightly different message. Whereas, Maya Angelou’s poem was overall lively and spirited, Grace Nichols poem takes on a more sarcastic side of what it’s like to be a black woman, compared to a white woman, in today’s society and how she feels about being asked to write a poem on what it’s like to be a black woman. The heading of Grace Nichols poem’ Of course when they ask for poems about the ‘realities’ of black women’ shows a sarcastic side as she has put realities in inverted commas. This gives you the impression that she doesn’t want to write this poem as black women are no different from white women or any other race. The first verse of the poem starts with ‘what they really want at times is a specimen whose heart is in the dust’. When she uses the word they in the beginning I think she is talking about white people, racists and those that misunderstand her race. Also, when she says the word specimen it makes you think of a different species; something that needs to be studied. I think this is what she feels racists think of the black race. When she refers to ‘whose heart is in the dust’ this makes the reader believe she thinks people pity her race. When she says ‘a mother-of-sufferer’ she is referring to ancestors of slaves and this then links to ‘trampled/oppressed’ which is the typical slave image. She’s is saying here that ‘they’, meaning white people or people that misunderstand her race, want a slave to write a poem about how it is to be a black person living in today’s society. Grace Nichols then moves on and says ‘they want a little black blood undressed and validation for the abused stereotype already in their heads’. This means that racists want a black, vulnerable person to be proof for the typical slave image, that’s a black stereotype, in their minds. When she says ‘black blood’ she is implying that black people are completely different to any other race and even have different blood, even though black people are no different from white people. She is also implying, when she says ‘For the abused stereotype already in their head’, that the stereotype has been put into people’s heads by white, biased history books. When she says, in the next verse, ‘a perfect song’ she is referring to someone that is proud of their race and would like to write a poem about being black, for example Maya Angelou. Within the next few lines, Grace Nichols talks more about how not all black women are the same and how they can’t be categorised. When she says’ I say I can write no poem big enough to hold the essence’. This means she can’t write one poem for black people or any other race as there are too many personalities and individuals to put them all into one category. When she says ‘of a black woman or a white woman or a green woman’ she is then showing her sarcasm again when she says ‘green woman’ as you can’t have green women and what she is trying to say is that we are all equal . ‘And there are Black women and Black women’ this is once again reinforcing the idea that there is not just ‘the’ black woman. There are different types of black women and they are not all the same and are individuals. In the next line she uses a very good simile when she says ‘like a contrasting sky of rainbow spectrum’. I love this simile as she is saying that there isn’t only one colour black and that when you put all the different colours together it makes something beautiful, such as a rainbow. She is also using natural imagery here and it makes you think of how special black people are to this world. As you go on in the poem, she uses the well known phrase ‘don’t judge a book by its cover’ very well as she says ‘touch a black woman you mistake for a rock and feel her melting down to fudge’. I think this is implying the phrase ‘don’t judge a book by its cover’ as it is saying if you insult a black woman when you think she has ‘thick skin’ she could really be vulnerable inside. In her poem, she does not only talk about different types of people and race, but she also introduces the fact of the different types of language. ‘If need be we’ll trade a piece-a-pussy’. Here she uses her own language of Creole and mixes Caribbean English with English to create a sense of her own Caribbean culture and how proud she is to be black and have her own, unique culture. Also, during her poem, Grace Nichols refers to some famous black women as she says ‘and there are black women so dangerous in South Africa they prison them away’. Here she is talking about Winnie Mandela, Nelson Mandela’s wife. She also refers to Maya Angelou throughout her poem as she says’ and there are black women strong and eloquent and focused’. Here she talks about Maya Angelou and how proud she is of her race. However, at the end of the poem, she ends on a positive note as she says’ the twisted self-negating history we’ve inherited’. I think this means even though they see their history as twisted and cruel, she wants black people to focus on the present and make their history better than that of the ancestors that were slaves. She also says ‘crushing out with each dancing step’. This shows me that she wants to crush out their past history and therefore ends on a positive note. Overall, throughout the poem, I think Grace Nichols was trying to make black women proud of their culture and race and that they are no more different than white people or any other race. I think Grace Nichols didn’t have a set structure for the poem as it is sporadic and a random layout. I think she did this because there is not a set pattern for black women and that the layout represents this. Also, the layout is random and unique and that’s what she wants black women to be perceived as instead as being in a set pattern and categorised. Grace Nichols repeats several thing throughout her poem. ‘of a black woman or a white woman or a green woman’ is repeated a lot to emphasize the point that all races are equal and it doesn’t depend on colour for how we are treated. She also repeats the phrase ‘crushing out with each dancing step’ to make her point that you shouldn’t judge people by their past and that you should forget about you and your ancestors history and create new history. I think Grace Nichols used Creole to emphasize how she is proud of her culture and that black women should be proud as well and celebrate their own culture. I think these poems differ in messages and tones as Maya Angelou’s poem ‘still I rise’ her message is that black women should be proud about their culture and to be black and that Maya Angelou wants to change the perception of black women so that it is not the typical lave image but it is more sexy and elegant. Also, I think Maya Angelou was lively and spirited throughout most of her poem, although she had some accusatory tone and interrogative mode. However, Grace Nichols’s message was different from Maya Angelou’s as Grace Nichols wanted black women to be treated fairly and equally as any other race are and that she doesn’t think its right to define black women all in one category. Also, she didn’t think it was right to be asked to write a poem about how black women feel living in today’s society as it is no different from any other race woman. Grace Nichols’s tone throughout was mainly accusatory and angry. In some ways the two poems are similar as they both feel that their race should not be treated as slave just because some of their ancestors were in captivity as slaves in past history. Also, they both feel that their race should now think about the present and not focus on the past and believe you should forget about slavery and the past. They both also want black people to celebrate their culture. I think Grace Nichols’s poem portrays the black race better as Maya Angelou categorises the black race even though they are all individuals and can’t be put into just one category. Whereas, Grace Nichols says all the way through her poem that black people are individuals and all unique and you can’t categorise them. Also, I think Grace Nichols write not just about the good things about being a black woman, but she also write about the bad things, whereas, Maya Angelou doesn’t.

The Two Faces of Man Exposed in The Lord of the Flies Essay -- Lord of

The Two Faces of Man Exposed in The Lord of the Flies  Ã‚  Ã‚  Ã‚         William Golding was inspired by his experiences in the Royal Navy during World War II when he wrote Lord of the Flies (Beetz 2514). Golding has said this about his book: The theme is an attempt to trace the defeats of society back to the defects of human nature. The moral is that the shape of society must depend on the ethical nature of the individual and not on any political system however apparently logical or respectable. The whole book is symbolic in nature except the rescue in the end where adult life appears, dignified and capable, but in reality enmeshed in the same evil as the symbolic life of the children on the island. (Epstein 204)    In the novel he displays the two different personalities that mankind possesses, one civilized, the other primitive. Golding uses the setting, characters, and symbolism in Lord of the Flies to give the reader a detailed description of these two faces of man.    The story's setting is essential for the evolution of both sides of man. When an airplane carrying a bunch of school boys crashes on an island, only the children survive. The island the children find themselves on is roughly boat-shaped (Golding 29; ch. 1). It is ironic that the children are stuck on an island shaped like the thing that could save them (a boat). Despite this irony, they are trapped. They are surrounded by ocean and no one knows where they are. The boys, isolated from society, must now create their own.    The children soon realize that there are, "No grownups!" (Golding 8; ch. 1) This means that the boys must fend for themselves until they are rescued. There are no parents or adults to give the boys rules or punish them i... ...etz, Kirk H., ed. Beacham's Encyclopedia of Popular Fiction. Vol. 5. Osprey: n.p., 1996. 5 vols. Epstein, E. L. Afterword. Lord of the Flies. By William Golding. New York: Berkley, 1954. Gunton, Sharon R., ed. Contemporary Literary Criticism. Vol. 17. Detroit: Gale, 1981. 68 vols. Magill, Frank N., ed. Masterplots. Vol. 2. Englewood Cliffs: n.p., 1949. 3 vols. Matuz, Roger., ed. Contemporary Literary Criticism. Vol. 58. Detroit: Gale, 1990. 68 vols. Michel-Michot, Paulette. "The Myth of Innocence,". Matuz 175-7. Rosenfield, Claire. "Å’Men of a Smaller Growth': A Psychological Analysis of William Golding's Lord of the Flies." Matuz 172-5. Spitz, David. "Power and Authority: An Interpretation of Golding's Lord of the Flies,". Gunton 172-3. Taylor, Harry H. "The Case against William Golding's Simon-Piggy." Gunton 170-1.      

Labyrinth of Suffering

â€Å"How will we ever get out of this labyrinth of suffering? † I believe suffering is something ones self is born with. When we give our first steps in this world we soon realize there is struggle and the struggle is ever lasting in ones life. Alaska Young was brought down with the suffering in her life. The labyrinth of her life dragged her down and the question of escaping the labryitnh would not leave her mind. She broke. Alaska got out of her labyrinth â€Å"straight and fast. † Maybe getting out of the labyrinth of suffering is forgiveness just like pudge believes.If one holds on to hatred and pain then it grows and it eats away your every whim. Pudge needed to answer this question not only for his class assement but he needed to answer it for himself. He knows as well as I do that Alaska is gone forever and he may never know why or how she died. Pudge knows that to get out of his labyrinth of suffereing he needs to forgive Alaska. He needs to forgive her to be a ble to continue mazing through the labrynth of his life. Pudge needs to forgive her to get to happiness.The answer to this question lingers in my mind,will I get out of this labryith of suffering? I am not sure at all. I know there is always a smile in darkness, and I can forgive and forget just as Pudge forgives Alaska. Maybe even after death there will still be the labryitnh of suffering. Or maybe after death the suffering ends. The first steps we give in death are probably not a struggle at all. Unlike Alaska I don’t want to find the answer just yet. I rather linger on it and learn or wonder. I will not find a way out â€Å"straight and fast. At some point in life â€Å"Everyone†¦gets dragged out to sea by the undertow†¦we are all going. † In other words, at some point in time we know we are going to die/suffer or someone we love and care for is going to die, how do we deal with this knowledge? Right now Miles’ answer is to believe in an afterlife, however Miles becomes enlightened and he changes his outlook on surviving the Labyrinth. Something similar to a parable/riddle is then introduced in the novel after Miles makes his inital decision about surviving the Labyrinth.The parable is: Banzan â€Å"Was walking through the market one day when he overheard someone ask a butcher for his best piece of meat. The butcher answered, â€Å"Everything in my shop is the best. You cannot find a piece of meat that is not the best. † Upon hearing this, Banzan realized that there is no best and no worst, that those judgments have no real meaning because there is only what is, and poof he reached enlightenment. † How does this relate to the central question of surviving the labyrinth of suffering?Well Alaska spent her life after her mom’s death thinking about the best and worst times in her life constantly. This parable is directly related to when Alaska suggested that they play the â€Å"Best Day/Worst Day† game when out camping with her friends. There she shares the worst day of her life that has overshadowed everything she did thereafter. The world religions teacher then introduces a zen belief that â€Å"Everything that comes together falls apart. † In other words death will happen†¦Ã¢â‚¬ we are all going†Ã¢â‚¬ ¦it is inevitable†¦therefore suffering will only cease when we stopped wishing things would not fall apart.Alaska could not do this and so she did not survive. She could not survive. The problem is not life but how much emphasis we put on disappointment, pain, and laying blame while trying to hold ourselves together; creating a sense of hopelessness. Miles then becomes truly enlightened when he realizes that the only way to survive the labyrinth of suffering is to forgive. When Alaska’s mother died she blamed and could not forgive herself for something that was out of her control and this is what caused her to self-destruct.Similarly, Miles blamed h imself for the death of Alaska as he felt he should have stopped her from getting in her car drunk†¦if only he had stopped her! This thought haunted him but then he realized: â€Å"She forgave us, and that we had to forgive to survive in the labyrinth. There were so many of us who would have to live with things done and things left undone that day. Things that did not go right, things that seemed okay at the time because we could not see the future. If only we could see the endless string of consequences that result from our smallest actions.But we can’t know better until knowing better is useless. † So I ask again: What is the best way to go about being a person? What are the rules of this game, and how might we best play it? How do we survive as oppsed to escape the labyrinth of suffering? According to Miles it is to forgive. Stop beating yourself up for elements of your life that are outside of your control such as death. Forgive yourself and others for the unf ortunate things that happen in life and accept what is.

Financial Analysis of Two Company

07. 7. 2012 Bilal Elarslan 2007432031| Dokuz Eylul University Faculty of Business Business Administration ManagerialFinance| Financial Analysis of Ulker &P? nar Sut| List of Contents Introduction 3 1. Ulker 4 1. 1 History of Ulker 4 1. 2 About Ulker5 1. 3 Shareholder Structure 6 1. 4 Subsidaries6 1. 5 Wacc of Ulker7 1. 6 Leverage8 1. 7 Operating and financial leverage of Ulker8 1. 8 Beta Analysis9 1. 9 Ulker’s Beta Coefficent†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦9 1. 10 Additional financial Information & key ratios†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦10 2. P? nar Sut†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 12 2. History Of P? nar Sut†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 12 2. 2 General Overview of Company†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦. 13 2. 3 Shareholder Structure†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 15 2. 4 Wacc of P? nar Sut†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦16 2. 5 Leverage†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 17 2. 6 P? nar Sut’s Beta coefficent†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦18 2. 7 Additional informations & key ratios†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦19 Appendix†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦20 References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦22Introduction In this research paper I prepared the financial ana? ysis of Ulker & P? nar Sut. While preparing this report firstly I have to choose two company Which are; * Ulker * P? nar sut While preparing this report I really mentioned about what we learned during manegerial finance lessons. As a result; with this aim, I prepared my term project by combining both acconting methods and my knowledge about finance. 1. ULKER 2. 1 History of Ulker 1944- Ulker Biskuvi was established in the Eminonu district of Istanbul. It started out as a small bakery with just three workers, producing 200 kg of biscuits per day.A few years later, the Company relocated to the Topkap? district of Istanbul. 1948- Producing a total of 75 tons of biscuits in 1944, Ulker Biscuits tripled its capacity at its Topkap? factory, built in 1948 specifically in order to increase the production volume. 1955- Ulker Biscuits decided to distribute its products throughout Turkey at factory prices and achieved a huge production increase with this innovation. 1970- In line with the growth strategy, Anadolu G? da Sanayii A. S. was founded in Ankara as a multiple-shareholder company and the production capacity of Ulker Biscuits was doubled. 974- The first biscuit export was made after choosing the Middle East as the target market. Opportunities for international competition were increased with the constitution of the R&D department in the same year. 1979- Ulker products began to be packed in cellophane-based packaging. 2003- Ulker Biskuvi merged under its own title with Anadolu G? da, whose shares have been quo ted on Istanbul Stock Exchange since 1996. 2008- Within the scope of Corporate Governance, the Articles of Association were amended and Corporate Governance and Audit Committees were set up.At the beginning of 2008, Ulker Biskuvi took part in the acquisition of the premium chocolatier brand, Godiva, with a 25. 23% share. 2. 2 About Ulker As the first company established within Y? ld? z Holding, operating its core business for 64 years, Ulker Biscuits serves as the flagship of the Holding both in terms of sales turnover and profitability. According to the Istanbul Chamber of Industry (ICI) in 2009 list of Turkey’s Top 500 Industrial Enterprises, Ulker Biscuits was ranked 104th. Ulker Biscuits produces biscuits, crackers, chocolate covered biscuits and wafers at its factories in Istanbul/Topkap? and Ankara.As the indisputable leader in the Turkish biscuit industry, Ulker Biscuits also takes its place among the giant food producers of the world, with its 280 assorted biscuit and cracker products that are supplied to both the local and international markets. In 1996, Ulker Biscuits received the ISO 9002 certification for quality standards in production; and in 2001, it was awarded the HACCP certification for quality standards in food safety. In 2002, it won the top mark of â€Å"High Level† in an analysis made by the Europe-based quality certification firm BRC, which further secured its successful position in the field of quality control.Ulker Biscuits develops new products in its independent laboratories, employing an experienced and innovative R&D staff, always keeping its quality-focused approach. Introducing an average of 60 new products per year to the market, Ulker Biscuits has continued to excel in innovation, thus making Ulker one of the top food brands. Ulker Biscuits products are exported mainly to the Middle East, Russia and Central Asian Republics, as well as to Europe, Africa and the United States. Ulker Biscuits not only contributes to Turkey’s economy through its exports, but it also successfully represents Turkey’s approach to quality on a global scale.Ulker Biscuits has an effective quality control system that injects synergy into the entire process from production through consumption; and it continues its investments based on its strategy that is focused on sustainable and profitable growth. Ulker Biscuits is a consumer-focused company that satisfies its consumers’ needs and expectations at the maximum level, and it has formed a harmonious and lasting relationship with its target group. Surveys conducted in recent years attest to the high levels of loyalty to the Ulker brand.In the â€Å"Brands 2008† survey by AC Nielsen, Ulker was ranked first in the biscuit category, and second and third in the categories of â€Å"top-of-the-mind† brands and those that consumers feel closest to, respectively. Local distribution of biscuits and chocolate covered products produced by Ulker Bi scuits and its subsidiaries is undertaken by its subsidiary, Atlas G? da Pazarlama, and other marketing companies of Y? ld? z Holding, Esas Pazarlama, Merkez G? da Pazarlama and Rekor Pazarlama. 2. 3 Shareholder Structure Shareholders of Ulker company dated 31/12/2010 is as follows.Shareholders Share(TRY) (%) Y? ld? z Holding A. S. 106. 999. 435 39,84 Others 161. 600. 565 60,16 Capital 268. 600. 000 100 1. 4 Subsideries Ulker Biscuits, the flagship of Y? ld? z Holding, associated with a number of companies within the Holding, It has developed a strong portfolio synergistic structure with both vertical and horizontal integration. Under this mutually beneficial structure, Ulker Biscuits and other companies within Y? ld? Holding, each occupy a leading position in their sectors. In addition to various biscuit facilities in cities in Anatolia, Ulker Biscuits has developed a dynamic production process that reaches into all branches of the food industry, including high quality flour, butte r and packaging facilities. 1. 5 Weighted Average Cost of Capital Corporations create value for shareholders by earning a return on the invested capital that is above the cost of capital. WACC is an expression of this cost and is used to see if certain intended investments or strategies or projects or purchases are worthwhile to undertake.WACC is expressed as a percentage, like interest. WACC of Ulker Company is %12,1. This means that investments should be made that give return higher than the WACC of %12,1. WACC= (Wi x ri) + ( Wp x rp) + ( Ws x rn) Tax rate: 20% 1. 6 Leverage Leverage refers to the effects that fixed costs have on the returns that shareholders earn. By â€Å"fixed costs† we mean costs that do not rise and fall with changes in a firm’s sales. Firms have to pay these fixed costs whether business conditions are good or bad.A firm with more leverage may earn higher returns on average than a firm with less leverage, but the returns on the more leveraged fi rm will also be more volatile. Managers can influence leverage in their decisions about how the company raises money to operate. The amount of leverage in the firm’s capital structure the mix of long-term debt and equity maintained by the firm can significantly affect its value by affecting return and risk. The more debt a firm issues, the higher are its debt repayment costs, and those costs must be paid regardless of how the firm’s products are selling.Because leverage can have such a large impact on a firm, the financial manager must understand how to measure and evaluate leverage, particularly when making capital structure decisions. Operating leverage is concerned with the relationship between the firm’s sales revenue and its earnings before interest and taxes (EBIT) or operating profits. When costs of operations (such as cost of goods sold and operating expenses) are largely fixed, small changes in revenue will lead to much larger changes in EBIT. Financial leverage is concerned with the relationship between the firm’s EBIT and its common stock earnings per share (EPS).On the income statement, you can see that the deductions taken from EBIT to get to EPS include interest, taxes, and preferred dividends. Taxes are clearly variable, rising and falling with the firm’s profits, but interest expense and preferred dividends are usually fixed. When these fixed items are large (that is, when the firm has a lot of financial leverage), small changes in EBIT produce larger changes in EPS. Total leverage is the combined effect of operating and financial leverage. It is concerned with the relationship between the firm’s sales revenue and EPS. 1. Operating and Financial Leverage of Ulker in 2011 Sales Revenue 10. 445. 022. 950 Less: COGS (9. 243. 511. 780) Operating Leverage Gross Profit1. 201. 511. 170 Less: Operating Expenses(46. 450. 461) EBIT1. 155. 060. 709 Total Less: Interest18. 799. 809 Leverage Net profit before tax1. 136. 260. 900 Financial Leverage Less: Taxes 137. 983. 993 Net profit after taxes 998. 276. 907 Less: Preferred stock dividends (518. 995. 890)Earnings available for common (EAC) 479. 281. 017 1. 8 Beta Analysis Systematic risk beta coefficient is a measure of a security. In other words, it is the relationship the performance of securities market with the average performance. It is coefficient of the change in response to a unit change in securities market. The market beta coefficient is accepted to be 1 for every time. In theory, all forms of securities in the market can be said that the beta coefficient equal to 1 in the totals. We can make 3 different beta coefficient is interpretation. 1- Beta coefficient of 1, – Beta coefficient is higher than 1, 3- Beta coefficient is lower than 1. 1. 9 Ulker’s Beta Coefficient Ulker beta coefficient is higher than 1 that is 1,02. So it represents the market price of securities will rise or fall more than the market. Beta coeffi cient that is higher than 1 is more risky than less than 1. Hence the beta coefficient of securities is less than 1 also reduces the risk of the portfolio. Therefore, in emerging markets (bull market), while beta coefficient higher than 1 which is providing higher returns than stock market, in falling market (bear market) makes a higher damage.For this reason, the falling stock markets prefers beta coefficient less than 1. ? >1 the share movement is faster than the index (high risk and high volatility). And volatility is average price of a security or market fluctuation feature that is shown in a short time interval. Volatility of a high-speed change in the price of securities and properties of extreme volatility are seen. The higher the beta coefficient causes increasing in volatility of securities. Ford coefficient is high and its volatility is increasing of securities. ParameterParameter | Coefficient| Standard Error | T- value| A| 0. 42 | 0. 54| 0. 77| Beta| 1. 02 | 1. 027 | 0. 99| F=92. 616472228 r2=0. 614915957 STD error=0. 155688307 1. 10 Additional Information on financial Instruments a) Capital risk management The Group controls its capital with the liability / total capital ratio. Net liability is divided by total capital in this ratio. Cash and cash equivalents are substracted from total loans to calculate the net liability. The shareholder’s equity is added to net liabilties to calculate the total capital. ) Liquidity risk management The Group manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities by continuously monitoring forecast and actual cash flows and matching the maturity profiles of financial assets and liabilities. The funding risk of the current and prospective debt demands is managed by maintaining the availability of lenders with high quality and in sufficient number The following table presents the maturity of Group’s non-derivative financial liabilities. The table in cludes both interest and principal cash flows. . PINAR SUT 3. 4 History of P? nar Sut 1975 – P? nar Sut is established in Izmir as the Middle East’s biggest dairy processing complex and Turkey's first UHT (ultra-high temperature processed) milk and packaged dairy products manufacturing plant. 1976 – The company begins producing Turkey’s first processed cheese and chocolate milk. 1978 – P? nar sliced kashkaval cheese and P? nar spreadable cheese are introduced to consumers. 1980 – A Kraft-P? nar joint venture is launched. P? nar Sut introduces its Deram, Raglet, Maribo, and Cheddar cheese varieties. 982 – The company begins exporting milk, cheese, butter, yoghurt, and strawberry milk to Central Europe, Cyprus, and the Middle East. 1983 – P? nar Yem is set up to provide high quality feeds to the P? nar Sut’s raw milk suppliers. P? nar Mayonnaise, Turkey’s first domestically-manufactured mayonnaise goes on sale. P? n ar Beyaz, Turkey’s first spreadable cheese, and P? nar Whipped Topping, a powdered whipped topping both go into production. 1984 – P? nar Sut begins exporting its labaneh, milk, yoghurt drink, butter, yoghurt, cheese, whipped topping, and mayonnaise products to Kuwait, Cyprus, and Germany. 985 – Labaneh is launched in the Turkish market under the name â€Å"P? nar Labaneh†. 1992 – P? nar Sut is awarded the Turkish Standards Institute’s (TSE) â€Å"Golden Packaging† award for the introduction of the first foil-sealed yoghurt container. Form Milk, Turkey’s first low-fat milk, and Cikolasut, chocolate milk made with real, natural chocolate, go on sale. 1993 – P? nar Sut becomes the first company in its sector to be awarded TS ISO 9002 Quality Management System certification. 1994 – P? nar Sut receives another TSEâ€Å"Golden Packaging† award for its 10-liter bag-in-box pack design.Having successfully demonstra ted its compliance with European standards in terms of production, sales, and after-sales services, P? nar Sut becomes the first dairy products company to receive TS ISO 9001 Quality Management System certification. 1995 – P? nar â€Å"long-life† fruit yoghurts and prepared desserts go into production. Turkish consumers are introduced to P? nar light (low-fat) and extra light yoghurts and to low-fat, triangular cheese. 1997 – P? nar Sut opens its Eskisehir plant. 1999 – P? nar Sut introduces its â€Å"Denge† line of lactose-free, high-calcium, and vitaminenhanced milks. 000 – As a result of investments at the Eskisehir plant, P? nar Sut launches the world’s first continuous-process production of cream-top yoghurt. 2001 – UHT milk supplied in plastic bottles goes into production. 2003 – Under an agreement with Sodima, P? nar Sut launches production of fruit yoghurts in Turkey. 2004 – P? nar introduces its Kafela, K aramela, and Cikolasut line of products in packaging specially designed to appeal to young people. P? nar Sut is awarded TS 13001 HACCP Food Safety System certification. 2005 – Turkey’s first organic milk and first prebiotic and probiotic dairy products are introduced to the market. 007 – P? nar’s YOPI line of calcium-, protein-,and vitamin-enhanced dairy products for children goes into production. 2008 – P? nar Sut becomes the first company in Turkey’s dairy industry to undertake a Lean 6 Sigma operational excellence and productivity project. P? nar Milk for Kids, a milk specially designed for child nutrition, is introduced to the market. 2009 – P? nar lemonade and tropical fruit drink are introduced to the market. 2010 – P? nar Kido with Biscuit, Honey Flavored P? nar Kid's Milk, and P? nar Breakfast Cream Cheese products go on sale. 3. 5 General Overview of P? ar Sut The pioneer of many firsts in its sector since the day it was founded, P? nar Sut makes use of the most modern technology available to produce and supply consumers with the milk and dairy products that are essential to good nutrition. The first to introduce the concept of healthy milk and dairy products in Turkey When it was originally founded in Izmir in 1975, P? nar Sut was the most advanced dairy processing complex in Europe and the Middle East. P? nar Sut was the first brand to introduce and entrench the concept of wellness, standardized milk and dairy products in Turkey. The P? ar brand, earning a deserved reputation as â€Å"Source of Dynamism, Health, Pleasure and Life†, became the preferred choice of Turkish consumers while also making huge contributions both to the growth and development of the Turkish Animal husbandry stock raising and food industries and also to the well-being of new generations of children. P? nar Sut’s principal business activity is the production and sale of dairy products (milk, yoghurt, yoghur t drink, traditional and modern cheeses, butter, cream) as well as of fruit juices, mayonnaise, ketchups, puddings, honey, sauces, jams and jellies, desserts, and powdered products.A leading role in increased dairy production in Turkey P? nar Sut introduced the first â€Å"long-life† UHT milk packaged in aseptic containers in Turkey in 1975. Operating from plants located in Izmir and Eskisehir, the company has remained the leading brand in Turkey’s dairy products industry ever since. Making use of the most modern technology available, P? nar Sut produces and supplies consumers with the milk and dairy products while also playing a leading role in increased dairy production through its year-round support for more than 35,000 suppliers of raw milk.P? nar Sut procures its superior-quality raw milk under agreements with more than 200 of Turkey’s biggest dairy farms, which are contractually obligated to produce to EU norms. By serving as these farms’ biggest cu stomer, P? nar Sut fosters its own â€Å"total quality† concepts among them as well. From the moment that it is harvested, raw milk is registered by means of a computerized system that keeps regular track of herd and animal health data throughout all production stages. To ensure its freshness and quality, P? ar Sut picks up its suppliers’ raw milk twice a day (morning and evening) from more than 300 milk collection and chilling centers and it takes it immediately to its processing plant. Individual dairy producers are subject to strict monitoring and controls by local laboratories while all milk must be controlled by the advanced technology equipped laboratories at the company’sIzmir and Eskisehir plants before being accepted. A regional force P? nar Sut is moving rapidly towards becoming a regional force in its hinterland by exporting milk and dairy products to many countries around the world.P? nar Sut’s raw milk collection and chilling centers are insp ected every year for the conformity with the EU standards by an EU commission. The company provides its suppliers with continuous support on the matter of developing and maintaining farms that are free of all diseases, which is a prime requisite for exporting milk and dairy products to EU countries. Through projects conducted jointly with government agricultural agencies in Turkey, an ongoing effort is made to ensure that raw milk production satisfies EU norms.According to the third-quarter 2009 sectoral results of the Turkish Customer Satisfaction Index survey, P? nar Sut ranked first in its sector with the highest (82%) level of customer satisfaction in the milk and dairy products category. This survey, which is conducted regularly by KalDer (Turkish Quality Association) and which also analyzes competition in Turkey, is the second most comprehensive poll of its kind after those conducted in the United States. 3. 6 Shareholder Structure The issued capital of the Company is 44. 951. 051,25 Turkish Lira. Each share of this capital is amounting to 1 Cent, 1. 28. 000 A group registered shares, 1. 260. 000 B group registered shares and 4. 494. 806,325 C group bearer shares 4. 495. 105. 125 shares. The Company does not have any privileges regarding distribution of profit. The Company has privileges regarding voting power in the establishment of board members. The business and administration of the Company is managed by the Board of Directors consisting of 5 or 9 members to be elected within the frame of the provisions of the Turkish Trade Code by the General Assembly among the partners or from outside of the Company.In case the Board of Directors consists of 5 people, 3 members shall be elected from the candidates, which A-Group shareholders shall nominate and 1 candidate which the B-group shareholders shall nominate and 1 candidate, which C-Group shareholders shall nominate. If the Board of Directors consists of 7 people, 4 members shall be elected from the candid ates, which A-Group shareholders shall nominate and 2 candidate which the B-group shareholders shall nominate and 1 candidate, which C-Group shareholders shall nominate.If the Board of Directors consists of 9 people, 5 members shall be elected from the candidates, which A-Group shareholders shall nominate and 3 candidate which the B-group shareholders shall nominate and 1 candidate, which C-Group shareholders shall nominate. If resolved by the Board of Directors, an Executive Director can be assigned. The President of the Board of Directors and the Executive Director is elected among the members representing A-Group shares. THE CAPITAL AND SHAREHOLDER STATUS OF PINAR SUT MAMULLERI SANAYI A. S. SHAREHOLDERS | SHARE RATE (%)| STOCKS AMOUNT (TL)| YASAR HOLDING A. S. 61,18 | 27. 503. 257. 789. 000| 3rd PARTY| 38,82| 17. 447. 793. 461. 000| TOTAL| 100,00| 44. 951. 051. 250. 000| | 3. 7 Weighted Avarege Cost of Capital Corporations create value for shareholders by earning a return on the invested capital that is above the cost of capital. WACC is an expression of this cost and is used to see if certain intended investments or strategies or projects or purchases are worthwhile to undertake. WACC is expressed as a percentage, like interest. WACC of P? nar Sut Company is %12,1. This means that investments should be made that give return higher than the WACC of %11. 6.WACC= (Wi x ri) + ( Wp x rp) + ( Ws x rn) Tax rate: 20% 3. 8 Leverage of P? nar sut Financial leverage is concerned with the relationship between the firm’s EBIT and its common stock earnings per share (EPS). On the income statement, you can see that the deductions taken from EBIT to get to EPS include interest, taxes, and preferred dividends. Taxes are clearly variable, rising and falling with the firm’s profits, but interest expense and preferred dividends are usually fixed. When these fixed items are large (that is, when the firm has a lot of financial leverage), small changes in EBIT prod uce larger changes in EPS.Total leverage is the combined effect of operating and financial leverage. It is concerned with the relationship between the firm’s sales revenue and EPS. 3. 9 Beta Analysis of P? nar Sut 3. 10 Additional Information on financial Instruments a) Financial highlights: (TL million)| 2011| 2010| % change| Total assets| 532. 6| 479. 0| 11. 2| Shareholders’ equity| 384. 8| 350. 2| 9. 9| Financial liabilities| 15. 0| 20. 0| -25. 0| Sales revenues| 577. 1| 480. 7| 20. 1| Profit before taxation on income| 71. 4| 71. 2| 0. 3| Net period profit| 60. 1| 57. 8| 4. 0|Earnings per share (TL)| 1. 3365| 1. 2863| 3. 9| b) Financial ratios | 2011| 2010| Total liabilities/Total assets (%)| 27. 75| 26. 88| Total liabilities/Shareholders’ equity (%)| 38. 41| 36. 77| Return on sales (%)| 10. 41| 12. 03| Current assets/Current liabilities| 1. 92| 2. 17| Equity turnover ratio| 1. 50| 1. 37| Net financing costs/Net sales (%)| 0. 67| 0. 94| Net financing costs/Sh areholders’ equity (%)| 1. 00| 1. 29| c) Revenue & Net Income The tables gives us a brief information related to revenue and net income of P? nar Sut. Appendix i) ii) ReferencesFood Industry Report 2011 GITMAN Lawrence, ZUTTER Chad, Principles of Managerial Finance http://seekingalpha. com/article/427611-ulker-remains-one-of-our-best-ideas http://uk. reuters. com/business/quotes/financialHighlights? symbol=. IS http://www. valuebasedmanagement. net/methods_wacc. html http://www. ulker. com. tr/en/financial-statements. htm http://www. 4-traders. com/PINAR-SUT-MAMULLERI-SANAY-6495545/financials/ http://markets. ft. com/Research/Markets/Tearsheets/Financials? s=PNSUT:IST http://www. pinar. com. tr/ Ulker 2011 Annual Report P? nar Sut 2011 Annual Report

Definition and Examples of Bowdlerisms

Definition and Examples of Bowdlerisms Definition Bowdlerism is the practice of of removing or restating any material in a text that might be considered offensive to some readers. Verb: bowdlerize. The term bowdlerism is an eponym derived from Dr. Thomas Bowdler (1754-1825), who in 1807 published an expurgated edition of William Shakespeares playsa version in which words and expressions are omitted which cannot with propriety be read aloud in a family. Examples and Observations Long before the British physician Thomas W. Bowdler (1754-1825) and his sister, Henrietta Bowdler (1754-1830), took it upon themselves to make the plays of William Shakespeare safe for innocent eyes, the wholesale editing of another authors writing so that it might be more palatable to prudish tastes was known as castration to some, winnowing by others. But with the publication of the first edition of the Family Shakespeare in 1807, the world of letters got a new verbbowdlerizeto identify the process of literary expurgation. . . . Immensely popular in their time, these sanitized versions of the plays were the principal text by which Englands national poet reached thousands of impressionable readers for close to a century, the dialogue discreetly pruned of any reference to God or Jesus, with every hint of sexual pleasure or misconduct snipped out. . . .Some discriminating readers were outraged, to be sure. A writer for the British Critic railed that the Bowdlers had purged and castrat ed Shakespeare, tattooed and beplaistered him, and cauterized and phlebotomized him. But bowdlerism was far from being abandoned, and was adopted by numerous successors, Noah Webster and his heavily expurgated American dictionaries and William Michael Rossettis watered-down British edition of Walt Whitmans Leaves of Grass among the more egregious examples.(Nicholas A. Basbanes, Every Book Its Reader: The Power of the Printed Word to Stir the World. HarperCollins, 2005) Perhaps there is no greater tribute to the supposed power of literacy and no greater literary testament to unresolved infantile conflicts than 19th-century bowdlerism.More than words were changed. Double entendres and sexual allusions of various sorts were cut out or restated. In King Lear, the Fools codpiece song was eliminated, as was Gonerils lament about the knights brothel activities. Pepyss faithful and literate recording of his sexual experiences, and fanciful pictures, such as the voyeuristic Lilliputian army that subdued Gulliver or Swifts classically nonerotic detailing of the Brobdignagian breast, fared no better.(Richard S. Randall, Freedom and Taboo: Pornography and the Politics of a Self Divided. University of California Press, 1989)Before and After the Bowdlers[T]he practice of bowdlerism was already well established before the Bowdler family started to wield the blue pencil. Charles Wesley in 1744 published his Collection of Moral and Sacred Poems, From the Most Celeb rated Authors, in which about 100 poems have lines missing or substituted. Subsequent decades saw pruned or purged collections of poets as diverse as the Earl of Rochester, Abraham Cowley, and Matthew Prior. . . .Although bowdlerism is regarded as something of a joke from a contemporary liberated viewpoint, it has proved far more tenacious and widespread than is generally realized. Many works lacking any tincture of obscenity, some at the heart of the English literary tradition, are bowdlerized. It is only fairly recently that school editions of Shakespeare have become unexpurgated. An American study by James Lynch and Bertrand Evans, High School English Textbooks: A Critical Examination (1963) showed that all of the eleven prescribed editions of Macbeth were bowdlerized. Most editions of Gullivers Travels still excise the grosser physical details. In the United States hardly a year passes without some protest over prescribed school texts regarded as blasphemous or profane in some w ay.(Geoffrey Hughes, An Encyclopedia of Swearing: The Social History of Oaths, Profanity, Foul Language, and Ethnic Slurs in the English-Speaking World. M.E. Sharpe, 2006) Bowdlerism and CensorshipIn Dr. Bowdlers Legacy: A History of Expurgated Books in England and America (1992), Noel Perrin distinguishes between censorship and what he calls bowdlerism. While the former is generally done by governments for political reasons, bowdlerism is done by individuals for moral ones. While censorship is usually imposed on books before they are published, and leads to their being withdrawn, bowdlerism comes afterwards, and is a form of editing. The book in question still appears, but in a form judged suitable to what is seen as an audience needing protection.(Philip Thody, Dont Do It!: A Dictionary of the Forbidden. St. Martins Press, 1997)Contemporary Bowdlerism . . . and FoodBowdlerism targeted profanity and sexual explicitness and [Thomas] Bowdlers activities led to the progressive sanitising (or bowdlerising) of a range of workseven the Bible was a targeted text. Clearly, these days the definition of dirt has shifted considerably and the goals of modern-day bowdlerites are very different. Texts are now likely to be cleansed of references to things like race, ethnicity, and religion.The US has seen a lot of these kinds of cleaning-up activities in recent years. They might even extend to the food superstitions of todaycalories, carbohydrates, cholesterol, sugar, caffeine, and salt. Apparently, US publishers are now expected to omit references to, and illustrations of, foods that are high in these shocking substances. . . . In her account of the rampant sanitizing of textbooks and state education testing services in the US, Diane Ravitch includes a substantial hit list of foods . . ..The banned substances include things like bacon, butter, margarine, cakes, sweets, coffee, condiments, corn chips, cream, cream cheese, doughnuts, French fries, fruit punches, gravy, honey, jam, jelly, preserves, ketchup, juice drinks, pickles, pies, potato chips, pretzels, salad dressings, mayonnaise, salad oil, shortening, salt, fizzy drinks, sour cream, su gar (of all kinds), tea, whipped cream. The list goes on.(Kate Burridge, Gift of the Gob: Morsels of English Language History. HarperCollins Australia, 2011) Pronunciation: BODE-ler-iz-em

Definition and examples of Alphabet

Definition and examples of Alphabet An alphabet is made up of the letters of a language, arranged in the order fixed by custom. Adjective: alphabetic. The basic principle of alphabetic writing is to represent a single sound (or phoneme) of a spoken language by a single letter. But as Johanna Drucker notes in The Alphabetic Labyrinth (1995), This phonetic writing system is at best an approximation. The orthography of English, for instance, is notoriously plagued by inconsistencies and peculiarities. The First Alphabet In about 1500 B.C., the worlds first alphabet appeared among the Semites in Canaan. It featured a limited number of abstract symbols (at one point thirty-two, later reduced to twenty-two) out of which most of the sounds of speech could be represented. The Old Testament was written in a version of this alphabet. All the worlds alphabets descend from it. After the Phoenicians (or early Canaanites) brought the Semitic alphabet to Greece, an addition was made that allowed the sounds of speech to be represented less ambiguously: vowels. The oldest surviving example of the Greek alphabet dates from about 750 B.C. This is, via Latin and give or take a few letters or accents, the alphabet in which this book is written. It has never been improved upon. (Mitchell Stephens, The Rise of the Image, the Fall of the Word. Oxford University Press, 1998) The Greek Alphabet [T]he Greek alphabet was the first whose letters recorded every significant sound element in a spoken language in a one-to-one correspondence, give or take a few diphthongs. In ancient Greece, if you knew how to pronounce a word, you knew how to spell it, and you could sound out almost any word you saw, even if youd never heard it before. Children learned to read and write Greek in about three years, somewhat faster than modern children learn English, whose alphabet is more ambiguous. (Caleb Crain, Twilight of the Books. The New Yorker, Dec. 24 31, 2007)The Greek alphabet ... is a piece of explosive technology, revolutionary in its effects on human culture, in a way not precisely shared by any other invention. (Eric Havelock, The Literate Revolution in Greece and Its Cultural Consequences. Princeton University Press, 1981) While the alphabet is phonetic in nature, this is not true of all other written languages. Writing systems ... may also be logographic, in which case the written sign represents a single word, or ideographic, in which ideas or concepts are represented directly in the form of glyphs or characters. (Johanna Drucker, The Alphabetic Labyrinth. Thames, 1995) Two Alphabets English has had two different alphabets. Prior to the Christianization of England, the little writing that was done in English was in an alphabet called the futhore or runic alphabet. The futhore was originally developed by Germanic tribes on the Continent and probably was based on Etruscan or early Italic versions of the Greek alphabet. Its association with magic is suggested by its name, the runic alphabet, and the term used to designate a character or letter, rune. In Old English, the word run meant not only runic character, but also mystery, secret.As a by-product of the Christianization of England in the sixth and seventh centuries, the English received the Latin alphabet. (C.M. Millward, A Biography of the English Language, 2nd ed. Harcourt Brace, 1996) The Dual Alphabet The dual alphabetthe combination of capital letters and small letters in a single systemis first found in a form of writing named after Emperor Charlemagne (742-814), Carolingian minuscule. It was widely acclaimed for its clarity and attractiveness, and exercised great influence on subsequent handwriting styles throughout Europe. (David Crystal, How Language Works. Overlook, 2005) The Alphabet in an Early English Dictionary If thou be desirous (gentle Reader) rightly and readily to understand, and to profit by this Table, and such like, then thou must learne the Alphabet, to wit, the order of the Letters as they stand, perfectly without book, and where every Letter standeth: as b near the beginning, n about the middest, and t toward the end. (Robert Cawdrey, A Table Alphabetical, 1604) The Lighter Side of the Alphabet Educational television ... can only lead to unreasonable disappointment when your child discovers that the letters of the alphabet do not leap up out of books and dance around with royal-blue chickens. (Fran Lebowitz) Writers spend three years rearranging 26 letters of the alphabet. Its enough to make you lose your mind day by day. (attributed to Richard Price)Dr. Bob Niedorf: Name as many mammals as you can in 60 seconds. Ready? Go.George Malley: Hmm. 60 seconds. Well, how would you like that? How about alphabetical? Aardvark, baboon, caribou, dolphin, eohippus, fox, gorilla, hyena, ibex, jackal, kangaroo, lion, marmoset, Newfoundland, ocelot, panda, rat, sloth, tiger, unicorn, varmint, whale, yak, zebra. Now varmint is a stretch; so is Newfoundland (thats a dog breed); unicorn is mythical; eohippus is prehistoric. But you werent being very specific, now, were you, Bob?Dr. Bob Niedorf: Well! Ahh, Ill, uhIll try to be more specific.(Brent Spiner and John Travolta, Phenomenon, 1996) EtymologyFrom the Greek,  alpha  Ã‚  beta Pronunciation: AL-fa-BET

Business law 1 Essay Example | Topics and Well Written Essays - 750 words - 1

Business law 1 - Essay Example Black hackers could penetrate company websites and steal information that would be fundamental to them. This trend has led companies to hire hackers whose primary function is to counter the work of the black hackers. The skyrocketing use of social media has created a cyber threat. Apart from individuals, businesses are getting into social media which has substantially increased the threat of attack. Companies have taken a step beyond policies and procedures and developed tactics to combat these attacks. File log systems, data leakage prevention and enhanced monitoring of the network are among the advanced technologies developed to curb cyber attacks on companies. Research has advised that large firms should look into developing specialist policing and forensic computer resources for easy detecting and mitigation of cyberspace strikes. Law enforcement agencies are targeting social media sites are they are the easy places to find data. The unwarranted use of social media is giving a rise in cyber harassment, identity theft, and cyber stalking. Users are being tracked, and their data stolen, and illegally used on other platforms. The biggest challenge to social media legislator is mitigating the risks to the users and providing appropriate remedies to the victims. Corporations have come up with the e-signature technology where individuals can sign documents online and deliver them with embedded sign on the owner. It has the same impact legally as the hardcopy signature and enables identification. However, with knowledge asymmetry in the internet usage, ill-intentioned users can hack and impersonate others for selfish reasons. It can also amount to identity theft. Trespass as a cyber tort may include sending spam emails and spyware that if negligently handled, may gather data from one computer and send back to the source of the email. The other emerging trend is the need for the

Company law Essay Example | Topics and Well Written Essays - 3000 words

Company law - Essay Example In Salomon’s case, Lord Halsberury stated that â€Å"once the company is incorporated it must be treated like any other independent person with rights and liabilities appropriate to itself†. This means that the company as independent person has rights and obligations which are not the same as the rights and obligations of its member. This the fundamental attribute of corporate personality. Incorporation has both economical and social consequences on a company after being registered. For instance, the company has a perpetual life existence as its life does not depend on the life of its members. The company’s membership changes in a definite order prescribed by the company’s article and subject to changes indefinite period of time until the company’s liquidation. The membership is transferable from one member to another as long as the entity is a going concern. Corporate corporata also means that the member’s liabilities are limited by shares or liability. The liability of members is either limited to the amount that has remained unpaid, if any, on the shares held by then or to the amount the members have undertaken to contribute on the assets of the company incase its wound up or liquidated. This means that the debts of the company are not the debts of the shareholders as illustrated by the facts of and decision in Salomon v Salomon & co. ltd in which it was held that Salomon as a member was not under an obligation to pay the company’s debts. Thus the company’s creditors cannot institute legal proceedings against a member in order to recover the amount owed to them by the company. The member does not become his debtor merely because the company is his debtor, as in the case of unincorporated entities. A registered company has also the legal capacity to sue and be sued in its own name, which act as its seal. That is the company is the proper plaintiff and neither the directors nor shareholders can sue on its behalf to redress a wrong done to the company. This is illustrated by the facts of and the decision in, Foss v Harbottle. A limited company has also the capacity and the ability to buy, own or sale property in its own name, thus the company’s property does not belong to the members as per the case of Macaura v Northern Assurance Company. Thus, if the directors or the shareholders take the company’s money to purchase personal effect or discharge personal liability will be liable to the company for conversion. This is explained in the case of A L Underwood Ltd v Bank of Liverpool. The directors only hold the money in trust on behalf of the company due to fiduciary relationship. Thus incorporation renders a company a distinct and separate legal entity unlike unincorporated entities such as sole proprietorship or partnership. This principle is what is referred to as, in common parlan ce, as corporate shield or veil of incorporation between the company and its members. Unveiling the corporate veil is the identification of the company with its members to hold individual members liable to their own acts for assistance of the authority or court to compel corporate legal entity to look unto real beneficial owners. The court may lift and/ or unveil where its essential to secure justice where deemed necessary but the rule of separate legal entity still remains the general principal except in exceptional cases. There are some instances under statutory provision or