Bonchon Analysis Essay Example for Free

Bonchon Analysis Essay Banchan (pronounced bonchon) refers to the assorted sides served alongside a main course in Korean cuisine. About a half dozen banchan are served at any meal; the best known are kimchi — pickled dishes, made of either fermented cabbage (baechu), daikon radish (mu), or other vegetables like scallions (pa) — although they might also include japchae (glass noodles), marinated tofu, or even American potato salad. Typically served in small portions that are meant to be finished (and replenished if necessary) at every meal, banchan are shared amongst everyone at the table. My favorite banchan is ggakdugi, or kak tu gi, the spicy diced radish kimchi. BonChon is a Korean word meaning â€Å"original village†. Just as people yearn for their hometown, we hope that our customers will seek our amazingly crispy, juicy, and flavorful chicken wherever they are. As we grow and expand, we will make sure that he who seeks BonChon shall always find it. BonChon’s mission is to bring the most gratifying eating experience to people around the globe, and to be a company which cares for and grows with our franchisees and customers. Through a culture of hard work and loyalty, we aspire to be a reliable and constant source of quality food and service, dedicating ourselves to encouraging joy and positive energy in all those who encounter us.

Literature Review on Volatility

Literature Review on Volatility Literature Review What is Volatility? Volatility is defined as the spread of all likely outcomes of an uncertain variable (Poon, 2005). Statistically, it is often measured as the sample standard deviation (as seen below), but can also be measured by variance. Where rt = return on day t, and ÃŽÂ ¼ = average return over the T-day period. The common misconception is to equate volatility to risk. However, whilst volatility is related to risk, it is not the same. Risk represents an undesirable outcome, whilst volatility is a measure for uncertainty that could arise from a positive outcome. Furthermore, volatility as a measure for the spread of a distribution contains no information on the shape, this represents another reason for volatility being an imperfect measure for risk. The sole exception to this being a normal distribution or lognormal distribution where mean and standard deviation are appropriate statistics for the whole distribution (Poon, 2005). In dealing with volatility as a subject matter in financial markets, the focus is on the spread of asset returns. High volatility is generally undesirable as it indicates security values are unreliable and capital markets arent functioning efficiently (Poon, 2005; Figlewski, 1997). Financial market volatility has been the subject of much research and the number of studies continues to rise since Poon and Granger (2003)s original survey first identified 93 papers in the field. A whole host of drivers for volatility have been explored (including political events, macroeconomic factors and investors behavior) in an attempt to better capture volatility and decrease risk (Poon, 2005). This study will add to that list, hoping to contribute something novel to the field by scrutinizing the appropriateness of different volatility models for different country indexes. The Importance of Volatility Forecasting Investment strategies, Portfolio Optimization and Asset Valuation Volatility when taken as uncertainty transforms into an important component in a wide range of financial applications including Investment strategies for trading or hedging, Portfolio optimization and Asset price valuation. The Markowitz mean-variance portfolio theory (Markowitz, 1952), Capital Asset Pricing Model (Sharpe, 1964) and Sharpe ratio (Sharpe 1966) signify three cornerstones for optimal decision-making and measurement of performance, advocating a focus on the risk-return interrelationship with volatility taken as a risk proxy. With Investors and portfolio managers having limits as to the risk they can bear, accurate forecasts of the volatility of asset prices for long-term horizons is necessary to reliably assess investment risk. Such forecasts allow investors to be better informed and hold stocks for longer rather than constantly reallocating their portfolio in reaction to movements in prices; an often expensive exercise in general (Poon and Granger, 2003). In terms of st ock price valuation French, et al. (1987) analyse NYSE common stocks for the period of 1928-1984 and find expected market risk premium to be positively related to the predictable volatility of stock returns, which is further strengthened by the indirect relationship between stock market returns and the unexpected change in the volatility of stock returns. Derivatives pricing Volatility is a key element in Modern option pricing theory that enables estimation of the fair value of options and other derivative instruments. According to Poon and Granger (2003) the trading volume of derivative securities had quadrupled in the recent years leading up to their research and since then this growth has accelerated with the global derivatives market now estimated to be around $544 Trillion excluding credit default swaps and commodity contracts (BIS, 2017). As one of five input variables (including Stock Price, Strike price, time to maturity and risk-free interest rate), expected volatility over the options life in the Black-Scholes model theorized by Black and Scholes (1973) is crucially also the only variable that is not directly observable and must be forecast (Figlewski, 1997). Implied volatility and realized volatility can be computed by referencing observed market prices for options and historical data. Whilst the former is attractive for requiring little input data and delivering excellent results when analysed in some empirical studies compared to time series models utilizing just historical information, it is deficient by not having a firm statistical basis and different strike prices yielding different implied volatilities creating confusion over which implied volatility to use (Tse, 1991; Poon, 2005). Lengthening maturities of derivative instruments also weakens the assumption that volatility realized in the recent past can be used as a fairly reliable proxy for volatility in the near future. (Figlewski, 1997). With recent developments, derivatives written on volatility can now also be purchased whereby volatility represents the underlying asset, thus further necessitating volatility forecasting practices (Poon and Granger, 2003). Financial Risk Management Volatility forecasting plays a significant role in Financial Risk Management of the finance and banking industries. The practice aids in estimation of value-at-risk (VaR), a measure introduced by the Basel Committee in 1996 through an amendment to the Basel Accords (an international standard for minimum capital requirement among international banks to safeguard against various risks). Whilst many risks are examined within, volatility forecasting is most relevant for Market risk and VaR. However, calculating VaR is necessary only if banks choose to adopt its own internal proprietary model for calculating market risk related capital requirement. By choosing to do so, there is greater flexibility for banks in specifying model parameters but with an attached condition of regular backtesting of the internal model. Apart from banks, other financial institutions may also use VaR voluntarily for internal risk management purposes. (Poon and Granger 2003; Poon 2005) Christoffersen and Diebold (2000) do however contend the limits of relevance of Volatility Forecasting for Financial Risk Management, arguing that for reliable forecastablity much depends on whether the horizon of interest is of a short term or long-term nature (taken to be more than 10 or 20 days) with the practice deemed more relevant for the former than the latter due to the limitations in forecastability. Policymaking Financial market volatility can have wide-reaching consequences on economies. As an example, large recessions create ambiguity and hinder public confidence. To counter such negative impacts and disruptions, policy makers utilize market estimates of volatility as a means for identifying the vulnerability of financial markets, equipping them with more reliable and complete information with which to respond with appropriate policies. (Poon and Granger, 2003) The Federal Reserve of the United States is one such entity that incorporates volatility of various financial instruments into its monetary policy decision-making (Nasar, 1991). Bernanke and Gertler (2000) explore the degree to which implications of asset price volatility impact monetary policy decision-making. A side-by-side comparison of U.S. and Japanese monetary policy is the basis of the study. The researchers find that inflation-targeting is desirable, however, monetary policy decisions based on changes in asset prices should only be made to the extent that such changes help to forecast inflationary or deflationary pressures. Meanwhile, Bomfim (2003) investigates the relationship between monetary policy and stock market volatility from the other perspective. Interest rate policy decisions that carry an element of surprise appear to increase short run, stock market volatility significantly with positive surprises also having a greater effect than negative surprises. Empirical stylized facts of asset returns and volatility Any attempt to model volatility appropriately must be done with an understanding of the common, recurring set of properties identified from numerous empirical studies carried out across financial instruments, markets and time periods. Contrary to the event-based theory in which it is hypothesized different assets respond differently to different economic and political events, empirical studies show that different assets do in fact share some generalizable, qualitative statistical properties. Volatility models should thus seek to capture these features of asset returns and volatility so as to enhance the forecasting process; herein lays the challenge. (Cont, 2001; Bollerslev et al 1994) Presented are some of these stylized facts, along with their corresponding empirical studies that have contributed to the evolving literature aimed at improving volatility-forecasting practices and which this study will also look to capture. Return Distributions Stock Market returns are not normally distributed and it is therefore an unsuitable distribution for modeling returns according to Mandelbrot (1963) and Fama (1965). Returns are approximately symmetrical but can display negative skewness and significantly have leptokurtic features (excess kurtosis with heavier tails and taller, narrower peaks than found in a normal distribution) that see large moves occur with greater frequency than under normal distributions (Sinclair, 2013). Cont (2001) asserts that these large moves in the form of gains and losses are asymmetric by nature with the scale of downward movements in stock index values dwarfing upward movements. He further argues that the introduction of GARCH-type models to counter the effects of volatility clustering can reduce the heaviness of tails in the residual time series to some small extent. However, as GARCH models can at times struggle to fully incorporate heavy-tail features of returns, this has necessitated the use of alte rnative distributions such as the students t-distribution employed in Bollerslev (1987). Alberg et al (2008) employ a skewed version of this distribution to various models with the EGARCH model delivering the best performance in forecasting the volatility of Tel Aviv stock indices. Cont (2001) does however also highlight an important consideration with the notion of aggregational gaussianity that as one increases time scale (t) for calculation of returns, the distribution of returns seems more normally distributed in appearance. Leverage effect/Asymmetric volatility In most markets, volatility and returns are negatively correlated (Cont, 2001). First elucidated by Black (1976) and particularly prevalent for stock indices, Volatility will tend to increase when stock price declines. The justification for this is because a decline in equity stock price will increase a companys debt-to-equity ratio and consequently its risk and volatility (Figlewski and Wang, 2000; Engle and Patton, 2001). Importantly, this relationship is asymmetric, with negative returns having a more marked effect on volatility than positive returns as documented by Christie (1982) and Schwert, (1989). However they also argue that the leverage effect is not enough on its own to explain all of the change in volatility with Christie (1982) incorporating interest rate as another element that has a partial effect. Hence, whilst, ARCH (Engle, 1982) and GARCH (Bollerslev, 1986) models do well to account for volatility clustering and leptokurtosis, their symmetric distribution fails to account for the leverage effect. In response to this, various asymmetric modifications of GARCH have been developed, the most significant of these being Exponential GARCH (EGARCH; Nelson, 1991) and GJR (Glosten et al, 1993). Other models like GARCH-in-Mean have also endeavored to capture the leverage effect along with the risk premium effect, another concept that has been theorized to contribute to volatility asymmetry by studies such as Schwert (1989) (Engle and Patton, 2001). Volatility Distribution The distribution of volatility is taken to be approximately log-normal. Various studies such as Andersen et al (2001) have postulated this. More significantly than the actual distribution is the high positive skewness indicating volatility spends longer in lower states than higher states. (Sinclair, 2013) Volatility-Volume correlation All measures of volatility and trading volume are highly positively correlated (Cont, 2001). Lee and Rui (2002) show this relationship to be foundationally robust, however what is more complex is determining the causality between the two. Strong arguments can be made either way. As an example, Brooks (1998) utilizes linear and non-linear Granger causality tests and finds the relationship to be stronger from volatility to volume than the converse. He concludes by highlighting that for forecasting accuracy, predicting volume using volatility is more productive than forecasting stock index volume and using such forecasts in trading. According to Gallant et al (1992) this relationship is also closely linked with the leverage effect and incorporating lagged volume weakens the effect considerably. Non-Constant Volatility Volatility is not constant. The changing nature of volatility occurs in a particular manner; Merton (1980) was critical of researchers who failed to incorporate this feature in their models. Firstly volatility is mean reverting. Indeed LeBaron (1992) found a strong negative relationship between volatility and autocorrelation for stock indices in the United States. Secondly, Volatility clusters. This is a phenomenon first noted by Mandelbrot (1963) that allows a good estimation of future volatility based on current volatility. Other studies such as Chou (1988) have also empirically shown the existence of clustering. Mandelbrot (1963) wrote, large changes tend to be followed by large changes of either sign, and small changes tend to be followed by small changes. In other words, a turbulent day of trading usually comes after another turbulent trading day, whilst a calm period will usually be followed by another calm period. Importantly, the phenomenon is not exclusive to the underlying product and can be seen in stock indices, commodities and currencies. It also tends to be more pronounced in developed than emerging markets. (Taylor, 2008; Sinclair, 2013) Engle and Patton (2001) argue that volatility clustering indicates volatility goes through phases whereby periods of high volatility eventually give way to more normal volatility with the contrary also holding. Engles (1982) landmark paper incorporated these features of volatility persistence using his ARCH model, whereby time varying, non-constant volatility that persists in high or low states is taken account of.

Planning and Compulsory Act 2004 | Evaluation

Planning and Compulsory Act 2004 | Evaluation The Planning and Compulsory Act 2004 was enacted  as a response to criticism of the Compulsory Purchase system in England and Wales. Identify the key issues  of statute and analyse the likely reaction to the legislation. Introduction The Planning and Compulsory Act 2004 represents the first new Planning Act in over a decade and took in excess of eighteen months for the negotiation of its passage in the Palace of Westminster as well as special dispensation to enable the Act to be carried from one session of Parliament to the next. The Compulsory Purchase system that was in force in England and Wales that it overhauls is in keeping with reforms under the United Kingdom’s Sustainable Communities programme which was enacted to reverse the tide of empty and abandoned properties throughout the region as a result of the mass migration of the middle and upper middle class to suburban communities (Office of the Deputy Prime Minister, 2005). In essence, the Compulsory Purchase system is what is termed in the United States as the law of eminent domain, compulsory acquisition in Australia, or expropriation in Canada as well as South Africa and represents the government’s authority to appropriate property, priva tely held, for its utilization in keeping with programs or reasons that represent the good of the general public (European Convention on Human Rights, 1950). As part of the United Kingdom’s far reaching ‘Sustainable Communities’ programme, which was launched by the Deputy Prime Minister on 5 February 2003, the Planning and Compulsory Act 2004 has been enacted to introduce more efficiency as well as speed and simplicity into local, regional and the U.K. government’s ability to work under as well as with the interlocking communities plans that include these three levels government cooperation and interaction (Office of the Deputy Prime Minister, 2005). The legal term ‘compulsory purchase’ is an adaptation of ‘eminent domain’ which was derived from a legal treatise that was written by Huo Grotius in 1625 (Chen, 2003) and represents the means via which government can acquire real property that is required for the completion of a public project that is seen as beneficial for the public in general and where the owner of said property has been or is unwilling to negotiate the terms for the sal e. It is important to understand that the power of ‘compulsory purchase’ under English law is derived from real property. The truth is that private property ownership is not absolute but rather that a governmental authority grants what is termed a ‘fee simple’, which is an allodial title that is reserved for government. Under this, the landowner assumes the right to own property within that government’s borders as a result of the payment of taxation and the powers of compulsory purchase, police power and escheat (thepaperadvantage.com. 2005). The preceding is part of the feudal system whereby the holder of the land, termed ‘estate’, could not sell said land but rather was entitled to grant subordinate ‘fee simple’ estate rights to other parties in a system that was known as subinfueddation. Blackstone (Cousin, 1910) explains that in the instance of land under English law, fee simple conveys that it, land, can be transferred and held, owned, by whomever the original holder so pleases. The present system of property ownership evolved from this foundation and thus the government’s power to re-acquire land under compulsory purchase, or eminent domain, has thus been and is an established facet of law. The Compulsory Purchase system that existed in England and Wales operated under a structure whereby local authorities, without a linkage to regional or national planning forums, made the planning policies for their areas and as such a broader and more encompassing system for the integration of these plans into a coherent regional and national policy did not exist. The new Planning and Compulsory Act 2004 has been designed to streamline the planning process through a system that is more centralized thus replacing the local development plans and the corresponding delays and red tape which developers and landowners faced (Brand, 1968). The aforementioned flight of the middle and upper middle class to suburban developments has created a crisis throughout England and Wales whereby older communities now lack the middle and upper income tax base that was sustaining community services. In addition, a real housing shortage has and does exist throughout the country. It is estimated that there are approximately 220,000 to 230,000 new households entering the economy on a yearly basis (English House Condition Survey, 2003) and that there are just 170,000, estimated, new homes being built. The resulting high demand and low supply has created an imbalance in the housing market and driven the cost of home ownership out of the range of young adults thus creating an economic situation whereby older home owners of limited income find that their properties no longer have equity value as a result of the deteriorated neighborhoods caused by suburban flight. This imbalance has created a serious lack of affordable housing, thus resulti ng in the United Kingdom’s sweeping Sustainable Communities plan (Office of the Deputy Prime Minister, 2005). The developers state that the imbalance has been and is a result of the red tape involved in obtaining planning approvals from local authorities, which is countered by claims from consumer groups such as the Campaign for the Protection of Rural England that state developers and landowners have been hoarding land in an effort to drive up prices. The overall affect of the preceding, regardless of final blame, has been a severe economic condition that has crippled the UK’s housing market, driven down house prices in older neighborhoods and created an abandoned house situation whereby the mortgage costs of older homes exceeds their market value. This is the economic climate that has fostered the development of the Planning and Compulsory Act 2004, and the ramification of it with respect to the Compulsory Purchase system it replaces shall be examined herein from the context of criticisms leveled at the latter. The preceding summary of the economic and governmental aspects which prompted the adoption of the Planning and Compulsory Act 2004 have been undertaken to provide the background information necessary by which to understand the underlying developments which led to the enactment and passage of the Act. The Act seeks to eliminate the delay bottlenecks and red tape encountered through a redesign of the structure of the planning system from the local level onto the national level as called for under the Sustainable Communities initiative (Office of the Deputy Prime Minister, 2005). It replaces the planning policies made by local authorities with one that considers the ramifications and effects of varied building and development programs on a national basis. Under the old structure County Councils implement the preparation of planning policies as contained in structure plans, and these are further refined at the District Council level which forms the plans for the are development (planning sanity.com). The Act abolishes the Regional Planning Guidance and Structure Plans and replaces them with Regional Spatial Strategies that thus forms the basis for new plan development (Brand, 1968). The Regional Spatial Strategies under the new system will be prepared via appointed Regional Planning Bodies and will have some assistance from the existing County Councils. As the proceeding has raised concerns over accountability, a process of public consultation with respect to the Regional Spatial Councils shall be provided at examinations (uk-legislation, 2004). The new framework also eliminates local plans which now will fall under the auspices of Local Development Documents that are overseen and prepared by District Councils. Given the massive restructuring involved, the Act has a period of three years in which these transitions will be made. The preceding broad summary of the overall process contains the following improvements, modifications and changes that the Act introduces: Broad Scale Act Overview The Act has been designed to create a more flexible as well as responsive system for the planning of building programs in England and Wales, as is summarized as follows (uk-legislation, 2004): Provides for a streamlined, simpler and more flexible system at the local and regional level; provides for increased community involvement at the local and regional levels and includes the provision for financial assistance with respect to Planning Aid; Introduces powers for application forms that thus improve control over the developmental process as well as new provisions changing the length of time it takes for planning permissions. It also permits local planning authorities to bring up development rights in the local development orders; Introduces speed to the administrative handling of large infrastructure projects through the process of concurrent rather than consecutive hearings; Removes the immunity that the English Crown had in the planning process; Proves a system whereby the compulsory purchase plan is fairer, faster and easier to understand and work within on regeneration as well as major infrastructure projects. Part 1 and 2 of the Act Under these provisions of the Act a change in the way developmental plan making is conducted in the United Kingdom abolishes the cumbersome Compulsory Purchase system in the following manner(s) (uk-legislation, 2004): Under the new Act each region will have its own spatial strategy. In those instances where it is feasible as well as relevant, the existing regional planning guidance agency shall become the new regional spatial strategy unit. The regional spatial strategy units will be kept under review by the Regional Planning Bodies to monitor their implementation and as an oversight contingency. The Regional Planning Bodies must prepare a written draft of the revised Regional Spatial Strategy when such is expedient or required. The important manner of housing numbers and allocations will be arrived at in the foregoing level and where appropriate in sub-regional plans. The Regional Planning Bodies will take advice from county councils as well as other bodies that have expertise on strategic planning to aid in the planning of revisions of plans and drafts of the Regional Spatial Strategy agencies. The foregoing brings local and specialized expertise into the planning structure and provides monitoring of actions to ensure that the developed plans are in the best interests of all concerned. And most importantly, the public will be involved in the preparation of Regional Spatial Strategies. These changes from the Compulsory Purchase system spread out the planning expertise in a manner whereby there are cross checks and balances in the new system as well as expedient processing that is responsible to a higher level thus ensuring compliance. The multi faceted nature of the preceding has been streamlined into a system that processes planning rather than bogs it down and as a result removes the incidence of special interests steam rolling plans through given the public involvement as well as review by the Regional Planning Bodies. The Act does call for some changes in England that are not a part of the Wales plan with regard to the local plan regime below the Regional Spatial Strategy level. The following summarizes these modifications and changes (uk-legislation, 2004): The Local Planning Authorities will now prepare the Local Development Documents which will now replace all local plans, as well as unitary development and structure plans The Local Planning Authorities will now prepare as well as be responsible to maintain the local development scheme, and win the absence of a District Council, the County Councils shall prepare as well as maintain the mineral and waste development plans. The County Councils under this new arrangement will lose structure plans however they do participate in the preparation of the Local development Documents as well as related aspects other than comprising mineral or waste as a result of being part of a joint committee under the Local Planning Authorities. The Local Development Plans will be in conformity with the Regional Spatial Strategy, or with the RSS for London. Part 3 of the Act (uk-legislation, 2004) Under this provision, the definition of the development plan is updated and takes account of the modification and changes that are made to the planning system as a result of the Act. The foregoing includes the requirement whereby it is the duty of plan makers to perform their functions in consort with the overall objective of adding to the attainment and achievement of sustainable development. Part 4 of the Act This segment of the Act provides for a series of developmental control measures, one of which permits the Local Planning Authorities to introduce permitted development rights on a local level through local development orders. Development orders as well as regulations will be made by the Secretary of State through detailing the procedures entailed in making applications with respect to permission and consents. In addition, the Secretary of State will have the power to determine fees and charges along with the setting of timetables for what are termed ‘call-ins’ as well as ‘recovered appeals’. Part 4 also contains new provisions entailing the simplification of planning zones (uk-legislation, 2004). Part 5 of the Act This segment of the Act permits the Secretary of State as well as planning inspectors to make corrections concerning errors found in decision letters as well as in decision documents (uk-legislation, 2004). Part 6 of the Act Part 6 makes reforms to the Welsh development system plan (uk-legislation, 2004). Part 7 of the Act This part of the Act ends the Crown Immunity with respect to the planning system and contains a special provision concerning specific planning applications made by as well as on behalf of the Crown (uk-legislation, 2004). Part 8 of the Act The reform of the existing regime is contained in this part of the Act whereby it details the new plan to make it easier for Local Planning Authorities, the National Park authorities and joint planning boards to submit a case for Cop’s in terms of an economic, environmental or social benefit to the area in question. This segment of the Act also broadens the categories regarding individuals with an interest in the land who can bring forward objections. And finally, this part of the Act covers compensation and ownership issues (uk-legislation, 2004). Part 9 of the Act The last segment of the Act contains general issues. Given the sweeping nature of the Act, it is impossible to gauge the potential reaction to what still is in some aspects a work in progress. The preceding statement is made as a result of the amendment of some measures which occurred during the process of approving the original Act. These changes included retaining of the planning permissions as the development industry was not pleased with losing that aspect of control as well as the dropping of the Statements of Development Principles. The modifications also included strengthening the segments regarding sustainable development as a result of the view that saw the Act leaning too strongly in favor of landowners and developers. In addition, other changes included the amendment of provision concerning major infrastructure provisions whereby it is required to submit an economic impact report. The other major change was to allow for the inclusion of temporary stop notices and the provision to provide for appeals with respect to second no tices (uk-legislation, 2004). Conclusion The new legislation provides for more influence on the part of County Councils as a result of modifications contained in Part 4 as well as the regional public participation segment. The broader inclusion of the public in the process is likely to be received positively this segment, however since the Act was designed with developers and landowners in mind the question of whether the new system will effectively see to the broad mandates of the Deputy Prime Minister’s Sustainable Communities plan must be first put to the test of time. There is no question that a streamlined as well as modernized system was needed as well as required to overhaul the process that had been in place. The overall housing shortage situation has become a national priority and the Deputy Prime Minister’s Sustainable Communities plan is a long term legislation aimed at correcting the procedural as well as economic conditions which have led to the high prices housing segment and deterioration of inn er cities. There will undoubtedly be other modifications and changes to the Act as practical use uncovers minor shortcomings whereby certain aspects were unforeseen or accounted for. There already has been what can be termed reaction to the new legislation as evidenced by the preceding and the fact that the system is now more flexible as well as responsive helps to minimize potential dissatisfaction of any provisions as they can be amended when warranted. The inclusion of the foregoing minimizes the potential for any long term negative reaction as each segment with a stake in the process has a means to see modifications or potential modifications are heard. Bibliography Brand, Clive, M. 1968. Encyclopaedia of Compulsory Purchase and Compensation. Sweet Maxwell. ISBN: 0421007508 Chen, Wei. 2003. On the Law of War and Peace (De Jure Belli ac Pacis, Translation of the Latin works of Hugo Grotius. http://www.geocities.com/Athens/Thebes/8098/ Cousion, John. 1910. A Short Biographical Dictionary of English Literature. J.M. Dent Sons, London, The United Kingdom English House Condition Survey. 2003. English House Condition Survey: Review of Survey Design. National Center for Social Research. London, The United Kingdom European Convention on Human Rights. 1950. Convention for the Protection of Human Rights and Fundamental Freedoms, as amended by Protocol No. 11. http://conventions.coe.int/treaty/en/Treaties/Html/005.htm Office of the Deputy Prime Minister. 2005. The Communities Plan. http://www.odpm.gov.uk/index.asp?id=1139868 Office of the Deputy Prime Minister. 2005. Sustainable Communities. http://www.odpm.gov.uk/index.asp?id=1139865 Plannngsanity.com. 2003. Compulsory Purchase Forum. http://www.planningsanity.co.uk/forums/cp/compurch.htm Thepaperadvantage.com.2005 Allodial Title. http://www.paperadvantage.org/allodial.html Uklegislation.com. 2004. Planning and Compulsory Purchase Act 2004. http://www.uk-legislation.hmso.gov.uk/acts/acts2004/20040005.htm

Margret Rey :: Essays Papers

Margret Rey Margret Elizabeth Rey was born May 16, 1906 in Hamburg, Germany. Her father, Felix Waldstein, was a well-known member of the German parliament and Margret was use to a lot of activities in the large house that was home to five children, four servants, and a dog, as well as her father's political colleagues, who were frequent visitors. Margret Rey received formal art training at the Bauhaus in 1927. She studied at the Dusseldorf Academy of Art from 1928 to 1929 at which time she held one-woman art shows of her watercolors in Berlin in the early thirties. After working as a professional photographer in Berlin and London, Margret went to Rio de Janiero in 1935. There she became reacquainted with H. A. Rey, whom she had first known in Hamburg when he was dating her older sister. The two worked together to create a very small advertising agency. They were married in Rio de Janiero in 1935, and took their honeymoon in Europe in 1936. Hans sold bathtubs up and down the Amazon River to make extra money for the couple to live on while trying to get their work published in Europe. They then stayed in Paris for four years. In 1939, their lives in Paris were cut short by the Nazi invasion. It was at this time that they had already begun their work on the manuscript of Curious George. They had to pack what they could and flee Paris. Taking the Curious George manuscript with them, the Reys fled on bicycles and eventually completed the book in the south of France. They arrived in New York in October of 1940, and Houghton Mifflin published Curiou s George in 1941. Margret Rey :: Essays Papers Margret Rey Margret Elizabeth Rey was born May 16, 1906 in Hamburg, Germany. Her father, Felix Waldstein, was a well-known member of the German parliament and Margret was use to a lot of activities in the large house that was home to five children, four servants, and a dog, as well as her father's political colleagues, who were frequent visitors. Margret Rey received formal art training at the Bauhaus in 1927. She studied at the Dusseldorf Academy of Art from 1928 to 1929 at which time she held one-woman art shows of her watercolors in Berlin in the early thirties. After working as a professional photographer in Berlin and London, Margret went to Rio de Janiero in 1935. There she became reacquainted with H. A. Rey, whom she had first known in Hamburg when he was dating her older sister. The two worked together to create a very small advertising agency. They were married in Rio de Janiero in 1935, and took their honeymoon in Europe in 1936. Hans sold bathtubs up and down the Amazon River to make extra money for the couple to live on while trying to get their work published in Europe. They then stayed in Paris for four years. In 1939, their lives in Paris were cut short by the Nazi invasion. It was at this time that they had already begun their work on the manuscript of Curious George. They had to pack what they could and flee Paris. Taking the Curious George manuscript with them, the Reys fled on bicycles and eventually completed the book in the south of France. They arrived in New York in October of 1940, and Houghton Mifflin published Curiou s George in 1941.

Is College an Activity or a Lifestyle? :: Personal Narrative School Essays

Is College an Activity or a Lifestyle? Nikaurys and I became fast friends in the kindergarten Sunday school class at our Mennonite church. We used to beg our parents to let us spend Sunday afternoons together so we could play all the games we dreamed up. Our Sunday friendship continued throughout junior high and high school. Today I am sitting in a dorm room in northern Indiana, looking at walls covered with pictures of Nikaurys and I playing house under the coconut palms in her yard, the two of us at church camp, and our fifteenth birthdays. I have not seen Nikaurys since I went home for Christmas break last year. As time goes by, I feel like I am becoming more distanced from her because now that we are both in college, our experiences are very different. Yet I know that when I see her again, we will be able to talk about the common aspects of our college experiences, regardless of culture. My college experience in the United States is very different than Nikaurys'. When I go to dinner, the food service attendant greets me by saying "good evening, Elisabeth," as she reads my name off the I.D. card that she is scanning the value of another meal from. I smile, and politely ignore the fact that no one calls me Elisabeth. The Marriott cafeteria is busy with the 5:30 p.m. rush, so I wait in line behind at least twenty other people. Dinner tonight is a choice of soup and sandwich, mashed potatoes and gravy, or a salad. I load my antiseptic-looking plastic tray with chili and a grilled cheese sandwich and casually scan the crowd at the tables while I fill my glass with root beer. When I spot my roommate and a few of my friends talking animatedly at a table by the window, I carry my tray over to join them. The table is already full, but people stack their trays together so I can fit in. As I bite into my sandwich, the topic of conversation turns to whether we have set a record for the number of people around a table at the Marriott or not. Someone claims that the record number is thirteen, but after several minutes of loud arguments, we decide that it would be impossible to fit that many people in. At her home in Santo Domingo, my friend Nikaurys' dinner is much quieter affair.

Look Back in Anger

Alienation and Loneliness Jimmy Porter spoke for a large segment of the British population in 1956 when he ranted about his alienation from a society in which he was denied any meaningful role. Although he was educated at a â€Å"white-tile† university, a reference to the newest and least prestigious universities in the United Kingdom, the real power and opportunities were reserved for the children of the Establishment, those born to privilege, family connections, and entree to the â€Å"right† schools. Part of the â€Å"code† of the Establishment was the â€Å"stiff upper lip,† that reticence to show or even to feel strong emotions. Jimmy's alienation from Alison comes precisely because he cannot break through her â€Å"cool,† her unwillingness to feel deeply even during sexual intercourse with her husband. He berates her in a coarse attempt to get her to strike out at him, to stop â€Å"sitting on the fence† and make a full commitment to her real emotions; he wants to force her to feel and to have vital life. He calls her â€Å"Lady Pusillanimous† because he sees her as too cowardly to commit to anything. Jimmy is anxious to give a great deal and is deeply angry because no one seems interested enough to take from him, including his wife. He says, â€Å"My heart is so full, I feel ill – and she wants peace!† Anger and Hatred Jimmy Porter operates out of a deep well of anger. His anger is directed at those he loves because they refuse to have strong feelings, at a society that did not fulfill promises of opportunity, and at those who smugly assume their places in the social and power structure and who do not care for others. He lashes out in anger because of his deeply felt helplessness. When he was ten years old he watched his idealist father dying for a year from wounds received fighting for democracy in the Spanish Civil War, his father talking for hours, â€Å"pouring out all that was left of his life to one bewildered little boy.† He says, â€Å"You see, I learnt at an early age what it was to be angry – angry and helpless. And I can never forget it.† Related reading: My Problem With Her Anger Apathy and Passivity Although Alison is the direct target of Jimmy's invective, her apathy and passivity are merely the immediate representation of the attitudes that Jimmy sees as undermining the whole of society. It is the complacent blandness of society that infuriates Jimmy. When speaking of Alison's brother Nigel, he says, â€Å"You've never heard so many well-bred commonplaces coming from beneath the same bowler hat.† The Church, too, comes under attack in part because it has lost relevance to contemporary life. For Helena it spells a safe habit, one that defines right and wrong for her – although she seems perfectly willing to ignore its strictures against adultery when it suits her. Jimmy sees the Church as providing an easy escape from facing the pain of living in the here and now – and thus precluding any real redemption. Of course, Jimmy has also slipped into a world of sameness as illustrated by the three Sunday evenings spent reading the newspapers and even the direct re placement of Alison at the ironing board with Helena. Deadly habit is portrayed as insidious. Class Conflict Jimmy comes from the working class and although some of his mother's relatives are â€Å"pretty posh,† Cliff tells Alison that Jimmy hates them as much as he hates her family. It is the class system, with its built-in preferential treatment for those at the top and exclusion from all power for those at the bottom, that makes Jimmy's existence seem so meaningless. He has a university degree, but it is not from the â€Å"right† university. It is Nigel, the â€Å"straight-backed, chinless wonder† who went to Sandhurst, who is stupid and insensitive to the needs of others, who has no beliefs of his own, who is already a Member of Parliament, who will â€Å"make it to the top.† Alison's father, Colonel Redfern, is not shown unsympathetically, but her mother is portrayed as a class-conscious monster who used every tactic she could to prevent Alison from marrying Jimmy. The only person for whom Jimmy's love is apparent is Hugh's working-class mother. Jimmy likes Cliff because, as Cliff himself says, â€Å"I'm common.† Identity Crisis While Jimmy harangues everyone around him to open themselves to honest feeling, he is trapped in his own problems of social identity. He doesn't seem to fit in anywhere. As Colonel Redfern points out, operating a sweet-stall seems an odd occupation for an educated young man. Jimmy sees suffering the pain of life as the only way to find, or â€Å"earn,† one's true identity. Alison does finally suffer the immeasurable loss of her unborn child and comes back to Jimmy, who seems to embrace her. Helena discovers that she can be happy only if she lives according to her perceived principles of right and wrong. Colonel Redfern is caught out of his time. The England he left as a young army officer no longer exists. Jimmy calls him â€Å"just one of those sturdy old plants left over from the Edwardian Wilderness that can't understand why the sun isn't shining anymore,† and the Colonel agrees. Cliff does seem to have a strong sense of who he is, accepts that, and will move on with his life. Sexism A contemporary reading of Look Back in Anger contains inherent assumptions of sexism. Jimmy Porter seems to many to be a misogamist and Alison a mere cipher struggling to view the world through Jimmy's eyes. Note: There are comments associated with this question. 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Recognise the impact of prejudice Essay

Three of the examples of prejudice or stereotyping in Task 9 and describe what strategies/methods as a community interpreter would use to influence/educate agencies in overcoming these barriers. Write about what systems agencies already have in place to overcome these particular barriers. Example 1: The Iranian Interpreter, how would you deal with this situation in a professional manner? Strategy: Get to know a person on an individual basis before you decide if you don’t like them. You’re not going to like everyone, but you do need to respect them as an individual and spend time with them before you make a judgment. You need to realize that your way isn’t the only way. Example 2: People who came from an Arab background and who attended mosques were looked at differently. This means that people you passed every day on the street were given a discrimination.This is not fair treatment Strategy: Learn about different cultures and people to understand differences between yourself and others. As you learn more, you can relate to other people better even when differences exist. You need to go where you are in the minority and experience what it is like to be in that situation. Example 3:Many people have the view of a person with mental illness as someone who is violence-prone. Strategy: Be respectful of differences. You need to be able to agree to disagree. Even if you don’t have eye contact with each other, you will feel and know that their attitudes and behavior.