Influence of Family Values, Violence and Media Upon...

Patterns of behavior and cycles of abuse affect childhood development. Traditions and morals give the foundation and support that children need to understand boundaries. Love, family time, and structure provide a cornerstone for children to thrive. At the same time, neglect, abuse and expose to violence create the child’s blueprint for life. To what extent does the â€Å"family† shape the values of children today? Parental involvement and discipline help mold the child’s decisions regarding violent actions. In today’s society compared to twenty five years ago, we can access news events that take place as it happens around the world by use of internet and cell phones. Parents of young children are interested in learning the cause and†¦show more content†¦Kids at a young age have a tougher time telling reality from fantasy so they think all problems can be solved by violence.† (c, Brad). Instead of taking responsibility it is easy to blame the companies that produce the violent media. It is a parents responsibility to use the tools such as the parental guidelines on their televisions, mediate and take the time to preview shows, movies and games their children may be into and manage the inï ¬â€šuence that media has on them. â€Å"If something you dont approve of appears on the screen, then use the opportunity to ask thought-provoking questions. If certain people or characters are mistreated or discriminated against, talk about why its important to treat everyone fairly, despite their differences. Use the information and news to explain confusing situations and express your feelings about difï ¬ cult topics such as sex, love, drugs, alcohol, smoking, work, behavior and family life.† (Mwema 6-7). Children should grow up understanding that there is violence in the world. With proper communication and education, parents and children can reach a middle ground. People have the ability to make their own choices based on what they know to be right and wrong. The answer is not to shelter children from everything that is believed to ï ¬â€šood their minds with things that will cause them to act upon what they see. Education and communication play an important role in creating awareness and understanding. It will also promoteShow MoreRelatedMedia Violence Essay1420 Words   |  6 PagesViolence in the Media and how it Affects Society The effect of media is profound and far-reaching. All over the world, the media influences our values and intrudes upon our deep-seated ideologies and beliefs. Indeed the media has been a powerful force in influencing people’s perceptions, and more importantly, their behavior as well. Business, politicians, and showbiz personalities pay huge sums of money to media firms in order create an image or change an existing one. Politics in particularRead MoreMedia Violence and Violence in Society1059 Words   |  4 Pagesprogramming contains some violence, there should be more and more violent crime after television is available† (Freedman). Many suggest the violence in media is causing violence in society but then how is it that violent crimes are actually decreasing in the United States. The violence that is occurring is actually due from the mentally ill, poor parenting, and the location of where one lives in society. Violence has actually decreased over the decades even though media has more violence than ever beforeRead MoreSocialization As A Function Of Media1561 Words   |  7 Pagesof Media Mass media, significantly through mediums that project news and information, greatly affect what and how we learn about the world around us. In particular, television has become the outlet with the greatest socialization impact in its influence on young viewers. The distribution of information has become a part of the process by which people learn about societal values and behaviors and come to understand cultural expectations. Through entertainment and news programming, mass media suchRead MoreCause-and-Effect Relationship between TV Violence and Actual Crimes1755 Words   |  7 Pagesestablishes a cause- and effect relationship between TV violence and actual crimes? The subject of violence and sexuality on television has remained of great concern for both liberals and conservatives, and there are advocates on both sides of the issue in each ideological camp. While some liberals bridle at any attempts to curtail speech, others are concerned about the impact that violent television viewing has upon impressionable viewers like children and are concerned about televisions possible roleRead MoreEssay about Censorship1703 Words   |  7 Pages Censorship of Violence Why does anyone care if our society is aggressive? Does the kid who decides to fire a gun into his school do so because he watched Natural Born Killers? Is violence in our communities really causing anyone any abnormal amount of heartache? To the victims, and the families and friends of the victims, surely it does. Perhaps there are still some individuals who care just for the sake of caring, not because they are grieving a loss. But what does it all mean, and what isRead MoreEssay on The Influence of Violence in Sports1553 Words   |  7 PagesThe Influence of Violence in Sports Sports are an important part of our world. Take a look at any newspaper, listen to any radio, or watch TV for any length of time and there will surely be some sports information that is being passed along. The fact that sports figures get paid salaries that teachers can only dream about lets us know where our priorities lie in this society. Sports consume a lot of our time and energy, and because of this, they have great influence in our culture. BecauseRead MoreDo Video Games Cause Bad Behavior Essay1395 Words   |  6 Pagesbeen researched for almost 30 years and there are still major opinion differences. Many psychologists say violent video games do cause bad behavior, and claim that games such as Manhunt, Grand Theft Auto, and Modern Warfare, desensitize people to violence, making it a norm in society. Others disagree, claiming that these games, although they can be very violent, can help people develop critical thinking skills. (Nonviolent video games are preferred for this though). The truth is, violent video gamesRead MoreEssay about The Harmful Effects of Pornography 1626 Words   |  7 Pagesacts of violence public? A big number of famous scholars, no matter men or women, have given their opinions. Each of them has their own view, but we can sort them into two groups, which are against to serious censorship and willing to convict and uproot pornography. Because of pornography, women’s status can never be eq ual to men’s. Recently, a revolution about the perception of moral values comes out in the world, which refers to how deep the changes of the method people think and act. Media haveRead More Censorship: Helpful Or Hindering? Essay821 Words   |  4 Pagesstations are becoming less restrictive about the content in their programs. More violence, profanity, and nudity than ever before now graces our television screens every night. Clearly, there are things that children should not be seeing on television. Therefor, the new v-chip legislation in process requires all television manufacturers to install an electronic device that allows parents to set the tolerance levels for violence, profanity and nudity. However, are children’s viewing habits the responsibilityRead MoreTaking a Closer Look at Gender1311 Words   |  5 Pagesfemininity and sets gender expectations through parental and societal influence. Analyzing the foundation of gender, how gender is reinforced and it s production of masculinity, feminism can be shown to break down gender stereotypes. Looking across various societies, significant differences between men and women are distinguishable but this is not because of people’s plumbing rather it results from societal gender expectations pressed upon individuals as â€Å"most gender differences [are] culturally induced

Essay on Culture - 1216 Words

It is interesting that Raymond Williams creates a division between high class culture and lower class culture, suggesting that culture is ordinary, shared and common. If this is the case why does he emphasise a division in light of this concept? And if we all share a common culture can there be a division? It is difficult to understand the term culture. What is culture? Is it a utopian dream, is it a shared group of interests that bring a community together, or is it just simply a way of life? There are so many questions surrounding culture and its meaning. Raymond Williams described culture as â€Å"maps of meaning through which the world is made intelligible†, whether we agree with this definition or not, he was right in saying that the†¦show more content†¦But before I discuss Internet culture it is imperative that I decipher the essence of mass culture and mass media. To understand the term â€Å"mass†, it is important to study Gustave Lebon. Although there have been many more recent theorists that have discussed the term â€Å"mass†; including Karl Max, John Stuart Mills and Mathew Arnold, Lebon’s theories on â€Å"mass† have pervaded disputes on the subject ever since. A quote specifically that is questioned today is his warning that à ¢â‚¬Å"the age we are about to enter will in truth be the era of crowds† ([1895] 1916, p. 3), at a time when working class parties were more present and when western societies were dealing with the growth of industrialisation and mass migration to popular cities. His book â€Å"La psychologie des foules† was cited for its treatise to crowds, however is much more about the advent of mass society in physiological terms. He discusses â€Å"contagion, loss of individuality, and regression to a more primitive mental state were his favourite terms†. The reason for the book being described as a treatise for the mass is his connotation of crowd behaviour within a larger mass. For example Lebon quotes, â€Å"thousands of isolated individuals may acquire at certain moments, and under the influence of certain violent emotions — such, for example, as a great national event — the characteristics of a psychological crowd†. However, the mere coming together of a crowd is not sufficient enough to cause the disappearance of the consciousShow MoreRelatedCulture, Culture And Culture Essay1321 Words   |  6 PagesCulture Many times we hear concepts like ’Oriental culture’, ‘Italian culture’ or ‘Gothic Culture’. So we can understand and verify that it is an important concept related to the idea of the society where we live in. Culture, in Sociology, is a concept developed during XVIII and XIX centuries that has had various definitions. One exhaustive definition is in Browne (2015, p. 31): â€Å"Culture refers to the language, beliefs, values and norms, customs, dress, diet, roles, knowledge and skills, and allRead MoreCulture, Culture And Non Material Culture1256 Words   |  6 Pages Culture refers to any kind of morals, habits, norms, practices, beliefs, laws or customs acquired by man in a particular society. Culture is the set of knowledge, skills, traditions, customs, unique to a human group, to a civilization. It is transmitted socially from generation to generation and not by genetic inheritance, and largely determines individual behavior. (Arendt) Culture encompasses a very broad aspect of social life: techniques, manners, morals, lifestyle, system of values, beliefsRead MoreThe Culture Of The Mexican Culture930 Words   |  4 PagesThe world around us is surrounded by many diverse cultural groups. Each culture is unique and systematically made different, and cultures have their own beliefs and ways of life. Many cultures have their own language, values, set their own rules, and mores. Each culture has a group of people with the same beliefs, and they join organizations and institutions. Each culture is distinguishable from one another because each has different customs and beliefs. Although I was born in Mexico and broughtRead MoreThe Culture Of The Mexican Culture1416 Words   |  6 Pages How many different types of cultures are there? Here’s the answer there are many cultures. My story starts like this; both of my parents are from Guadalajara well most of my family is from that part of Mà ©xico. Being part of the Mexican culture is very different from other cultures, but every culture is unique of its own way. Many Mexican people have preserved and still do many of their ancestors’ traditions. Tradition plays a big role in my family for example: theRead MoreCulture, Culture And Non Material Culture1585 Words   |  7 PagesCulture Culture refers to any kind of morals, habits, norms, practices, beliefs, laws or customs acquired by man in a particular society. Culture is the set of knowledge, skills, traditions, customs, unique to a human group, to a civilization. It is transmitted socially from generation to generation and not by genetic inheritance, and largely determines individual behavior. (Arendt) Culture encompasses a very broad aspect of social life: techniques, manners, morals, lifestyle, system of values, beliefsRead MoreTechnology, Culture, And Culture1119 Words   |  5 Pageswe may have deemed a hindrance or ailment. In the implementation of every new technology it embodies many factors such as cultural, political, economic and scientific parallels. In the insert written by Arnold Pacey titled Technology; Practice and Culture, Arnold Pacey conveys the significance of attending to the cultural and organization facets of technology in its design and application, but most importantly that technology i s a valued neutral implementation that is embedded with inadvertent culturalRead MoreTattoos : Culture And Culture1527 Words   |  7 PagesTattoos in Culture There are different aspects of every culture and the American culture is no different. One of the aspects of American culture is the tattoo. Tattoos have been around for centuries, they are also part of other cultures and appeal to a broad variety of people. Tattoos became part of American culture through cultural diffusion, which is where one culture shares its culture with another through direct contact. Recently tattoos have re-assimilated into American culture and societyRead MoreCulture And Its Influence On Culture987 Words   |  4 Pages(Hutchison, 2011) said â€Å"culture is one of the two or three most complicated words in the English language† (p. 247). When I thought of culture, I used to picture food, festivities, clothes and country. Just like the nurse, I thought that if learned about one culture, I understood everybody in that culture. But as I started expanding my knowledge the meaning of culture started becoming harder to define. Different subjects seemed to have different definitions of what culture is. The idea expanded untilRead MoreThe Culture Of The Western Culture Essay1368 Words   |  6 Pagesaffects the values and beliefs of a person compromising on their identity. The influence of the western culture (American) has been spreading at a fast rate especially to the ‘colored’ citizens of the country replacing their traditions with those of the whites. Most of the people especially those who move to foreign countries in such of greener pastures are forced to surrender or forsake their cultures to fit into the new society. While studies have indicated potential cultural extinction and loss ofRead MoreCulture : Culture And Anarchy1312 Words   |  6 PagesCulture is one hard concept to define because it encompasses a number of fields, such as anthropology, sociology, history, literature, philosophy, psychology and linguistics, that’s why it is difficult to find out one valid definition that covers all the aspec ts of culture. As exemplified in Arnolds’ Culture and Anarchy (1867), cited in Spencer-Oatey, (2012) the term culture refers to products that have artistic or literary value, which are particularly approved of by elites and the upper-middle

Enron Free Essays

The Enron scandal has far-reaching political and financial implications. In just 15 years, Enron grew from nowhere to be America’s seventh largest company, employing 21,000 staff in more than 40 countries. But the firm’s success turned out to have involved an elaborate scam. We will write a custom essay sample on Enron or any similar topic only for you Order Now Enron lied about its profits and stands accused of a range of shady dealings, including concealing debts so they didn’t show up in the company’s accounts. As the depth of the deception unfolded, investors and creditors retreated, forcing the firm into Chapter 11 bankruptcy in December. More than six months after a criminal inquiry was announced, the guilty parties have still not been brought to justice. Leaders Leadership is critical to the creation and maintenance of culture; there is a constant interplay between culture and leadership. Leaders create the mechanisms for cultural embedding and reinforcement. Cultural norms arise and change because of what leaders tend to focus their attention on, their reactions to crises, their role modeling, and their recruitment strategies. Referring to Enron, the major mistake made by leaders are as follows: Compensation Programs As in most other U. S. companies, Enron’s management was heavily compensated using stock options. Heavy use of stock option awards linked to short-term stock price may explain the focus of Enron’s management on creating expectations of rapid growth and its efforts to puff up reported earnings to meet Wall Street’s expectations. The stated intent of stock options is to align the interests of management with shareholders. But most programs award sizable option grants based on short-term accounting performance, and there are typically few requirements for managers to hold stock purchased through option programs for the long term. The experience of Enron, along with many other firms in the last few years, raises the possibility that stock compensation programs as currently designed can motivate managers to make decisions that pump up short-term stock performance, but fail to create medium- or long-term value (Hall and Knox, 2002). Dishonestly concealed debt and overstated earnings. Management t Enron Corp. admitted it overstated earnings for nearly five years. In an SEC filing, Enron said financial statements from 1997 through the third quarter of 2001 â€Å"should not be relied upon, and that outside businesses run by Enron officials during that period should have been included in the company’s earnings reports. As a result, Enron is reducing earnings for those years by $586 million, from $2. 89 billion to $2. 31 billion. The company also acknowledged that part of earnings came from deals with partnerships controlled by recently sacked CFO Andrew Fastow. These transactions are already being investigated by the Securities and Exchange Commission. Enron said these deals enabled Fastow to earn more than $30 million. Enron also conceded that three entities run by company officials should have been included in its financial statements, based on generally accepted accounting principles. In addition, the company revised its debt upward in each year from 1997 to 2000. As a result, Enron’s debt at the end of 2000 was $10. 86 billion, $628 million more than previously reported. Enron’s Performance Review System. PRC featured two basic motivational forces – fear and greed. Skilling wanted to keep only â€Å"the very best,† meaning those who produced their profit and volume target– so every six months one or two out of every ten employees were dismissed. In pitting employees against each other, the rank-and rank System acted to stress the imagined weaknesses of individuals and to obfuscate organizational problems. In sum, this led to an erosion of employee confidence in their own perceptions and, most crucially, to further compliance with the organization’s leaders in a way that strengthened conformist behavior. In practice, the PRC system worked to encourage â€Å"entourages† or â€Å"fiefdoms† (Dallas 2003) of loyal employees who gravitated towards powerful players for protection. The PRC was a powerful mechanism for preventing the emergence of subcultures running counter to the organizational tone set by Enron’s hierarchy. Members of the Risk Management and Assessment Group who reviewed the terms and conditions of deals (and who were largely inexperienced recent MBA graduates) as well as internal auditors, were fearful of retaliation in the PRC from persons whose deals they were reviewing (Chaffin and Fidler 2002; Dallas 2003). At best, control was compliance-based, seldom encouraging employees to follow either the letter or the intent of laws (Dallas 2003). This punitive environment brought the consequences of dissent sharply into focus. Enron’s culture has been characterized as â€Å"ruthless and reckless †¦ lavish rewards on those who played the game, while persecuting those who raised objections† (Chaffin and Fidler 2002, 4-5). Led by Skilling’s cavalier attitude to rules, top management conveyed the impression that all that mattered was for employees to book profits. In sum, this led to an erosion of employees’ confidence in their own perceptions and, most crucially, to further compliance with the organization’s leaders in a way that strengthened conformist behavior. Former employees have noted how â€Å"loyalty required a sort of group think† (Chaffin and Fidler 2002, 2) and â€Å"that you had to ‘keep drinking the Enron water’† (Stephens and Behr 2002, 2). A myth of smooth, flawless operations was perpetuated with problems â€Å"papered over† (McLean 2001, 58). The net effect of the rank-and-yank system was to decrease the likelihood that employees would raise objections to any illegal or unethical behavior of powerful players. The competitiveness the PRC created was exacerbated by Enron’s bonus regime. As one insider put it, â€Å"sure, the culture at Enron was treacherous, but that was the point† (Swartz and Watkins 2003, 56). Ultimately, the overestimation of profits and underestimation of costs was endemic to the organization. The cheat on debt and financial report lead to character erosion which destroys the image of this company and loss of business and social standing. The harsh policy alliance the relationship between managers and ordinary workers, make well-intentioned employees were inhibited from doing the right thing. Board Board of Directors in Enron’s collapse concluded that the firm had developed a pervasive culture of deception (Senate Subcommittee 2002). As such it was designed and operating at the level of connivance. CEO Lay used direct force to fire any possible successor with whom he disagreed and either he or other top Enron managers used indirect force to deceive and manipulate employees and other stakeholders for top executive advantage. Whatever standard operating procedures were developed at the level of conformance were honored only to the extent that they did not infringe upon executive perks or interfere with top executives exercising a type of feudal control over internal subjects. When external compliance threatened to restrict Enron corporate prerogatives, aggressive tactics to reduce or liminate regulatory standards were routinely employed. The extent and degree to which illegal non-compliance was the cultural norm at Enron will be determined in the courts. Enron did not reach the commitment level; it never democratized its power structures so that employee and community input could shape strategic direction or restrain executive perks. For all intents and purposes, the work culture of Enron was that of a moral jungle where abuse of power dominated principled economic democratic norms; it was a moral powder keg ready to explode. (1) Fiduciary Failure.  The Enron Board of Directors failed to safeguard Enron shareholders and contributed to the collapse of the seventh largest public company in the United States, by allowing Enron to engage in high risk accounting, inappropriate conflict of interest transactions, extensive undisclosed off-the-books activities, and excessive executive compensation. The Board witnessed numerous indications of questionable practices by Enron management over several years, but chose to ignore them to the detriment of Enron shareholders, employees and business associates. 2) High Risk Accounting. The Enron Board of Directors knowingly allowed Enron to engage in high risk accounting practices. (3) Inappropriate Conflicts of Interest. Despite clear conflicts of interest, the Enron Board of Directors approved an unprecedented arrangement allowing Enron’s Chief Financial Officer to establish and operate the LJM private equity funds which transacted business with Enron and profited at Enron’s expense.  The Board exercised inadequate oversight of LJM transaction and compensation controls and failed to protect Enron shareholders from unfair dealing. (4) Extensive Undisclosed Off-The-Books Activity. The Enron Board of Directors knowingly allowed Enron to conduct billions of dollars in off-the-books activity to make its financial condition appear better than it was and failed to ensure adequate public disclosure of material off-the-books liabilities that contributed to Enron’s collapse. (5) Excessive Compensation.  The Enron Board of Directors approved excessive compensation for company executives, failed to monitor the cumulative cash drain caused by Enron’s 2000 annual bonus and performance unit plans, and failed to monitor or halt abuse by Board Chairman and Chief Executive Officer Kenneth Lay of a company-financed, multi-million dollar, personal credit line. (6) Lack of Independence. The independence of the Enron Board of Directors was compromised by financial ties between the company and certain Board members. The Board also failed to ensure the independence of the company’s auditor, allowing Andersen to provide internal audit and consulting services while serving as Enron’s Outside Accountants/Auditors Andersen’s auditors were pressured by Enron’s management to defer recognizing the charges from the special purpose entities as their credit risks became clear. Since the entities would never return a profit, accounting guidelines required that Enron should take a write-off, where the value of the entity was removed from the balance sheet at a loss. To pressure Andersen into meeting Enron’s earnings expectations, Enron would occasionally allow accounting firms Ernst Young or PricewaterhouseCoopers to complete accounting tasks to create the illusion of hiring a new firm to replace Andersen. Although Andersen was equipped with internal controls to protect against conflicted incentives of local partners, they failed to prevent conflict of interest. Revelations concerning Andersen’s overall performance led to the break-up of the firm, and to the following assessment by the Powers Committee (appointed by Enron’s board to look into the firm’s accounting in October 2001): â€Å"The evidence available to us suggests that Andersen did not fulfill its professional responsibilities in connection with its audits of Enron’s financial statements, or its obligation to bring to the attention of Enron’s Board (or the Audit and Compliance Committee) concerns about Enron’s internal contracts over the related-party transactions†. Ethical Code/Process Enron senior management gets a failing grade on truth and disclosure. The purpose of ethics is to enable recognition of how a particular situation will be perceived. At a certain level, it hardly matters what the courts decide. Enron is bankrupt—which is what happened to the company and its officers before a single day in court. But no company engaging in similar practices can derive encouragement for any suits that might be terminated in Enron’s favor. The damage to company reputation through a negative perception of corporate ethics has already been done. Enron’s top managers chose stakeholder deception and short-term financial gains for themselves, which destroyed their personal, and business reputations and their social standing. They all risk criminal and civil prosecution that could lead to imprisonment and/or bankruptcy. Board members were similarly negligent by failing to provide sufficient oversight and restraint to top management excesses, thereby further harming investor and public interests (Senate Subcommittee 2002). Individual and institutional investors lost millions of dollars because they were misinformed about the firm’s financial performance reality through questionable accounting practices (Lorenzetti 2002). Employees were deceived about the firm’s actual financial condition and deprived of the freedom to diversify their retirement portfolios; they had to stand by helplessly while their retirement savings evaporated at the same time that top managers cashed in on their lucrative stock options (Jacobius and Anand 2001). The government was also harmed because America’s political tradition of chartering only corporations that serve the public good was violated by an utter lack of economic democratic protections from the massive public stakeholder harms caused by aristocratic abuses of power that benefited select wealthy elite. How to cite Enron, Essay examples

Work Health and Safety for Risk Management - myassignmenthelp

Question: Discuss about theWork Health and Safety for Risk Management. Answer: We as human beings need to blame others and the best way is to blame it on the system. This blaming culture is envisaged in us that stimulate the problems in the system. Earlier, the person-centred safety theories used to blame the humans or their actions and human traits, however it has shifted largely to system-centred theories. However, risk and safety management is still required and now people are being taught that accidents occur due to multiple factors like system elements, non-human and human factors. Risk management is important at workplace to ensure workers safety and healthy being. As workplaces have high rate of injuries, illness and fatalities, there is requirements of an enforcing and supporting environment working in compliance with the health and safety standards (Zhou, Goh and Li 2015). There should be better management of risk as the workplace fatalities to prevent the frontline workers mistakes and ensure worker safety through risk management. Therefore, the follo wing essay involves the risk management at workplaces, understanding of the occupational hazards, principles of good work design, response to risk and fatalities in frontline workers and recommendations for a safe working environment. The essay will also involve an insight into the reporting of the Royal Commission regarding the House Insulation Program (HIP) that led to the death of four workers that was preventable. Any kind of business regardless of its structure and size should have risk assessment and management to ensure work health and safety. Workplace hazards can cause injury or illness that might be physical or psychological. For example, in Australia, the risk management ensure to provide workplace health and safety that eliminates or minimize the risk for injury or harm that people might be exposed to at workplaces or work activities (Hopkins 2005). Firstly, the identification and inspection of the likely problem areas is done that might cause employee injuries. This can be conducted through a risk management analysis. Risk management involves the identification of the health and safety issues and ensure that responsibilities are clearly understood by the concerned authorities. Managing risk is a stepwise process is not guesswork or happens by chance. One should be aware of the consequences that might occur due to the occupational hazards and try to minimize or eliminate it. According to safe work Australia, Code of Practice, there is finding out of the hazards that might cause harm to the workers. There is also risk assessment that helps to understand the nature of harm that might be caused by the hazard. After that, there is implementation of effective control measures that can be reasonably used under the hazardous circumstances. Finally, there is reviewing of the control measures to ensure the safety plans are working or not (Cunningham, Sinclair and Schulte 2014). It is the legal duty of the employers to abide by the basic principles of risk assessment and management. The basic step include the identification of hazards, assessment of the risk of the harm and existing control measures, extra measures to be taken and reviewing whether the controls are working or not. In the report of the Royal Commission into the Home Insulation Program (HIP) by The Queensland State Coroner illustrated the death of the four frontline workers who were a part of the HIP scheme (Sunindijo 2015). The Prime Minister Tony Abbott stated that it a litany of failures and findings are grave. The victim Mathew Fuller died due to electrocution while working on a roof cavity in October 2009 in outer Brisbane. During the inquest into his death in Brisbane court, installation was not made 100% safe and power should have been disconnected from the main source. He also stated that the staples should have been put through the cables that would have avoided the death (Hanger 2014 ). Another victim who was the youngest among all was Rueben Barnes who died due to electrocution at a home in 2009 near Rockhamptom. The carpentry apprentice who was working for the installation company Arrow Maintenance had received no induction or insulation training. Moreover, the co-workers of Rueben were also untrained and had no idea regarding the electric shock first aid treatment. The third victim Marcus Wilson from New South Wales aged 19 died of heat exhaustion while working at the roof cavity installing insulation. After the inquest into his death, the Coroner stated that safety standards were not met and this scheme was just moneymaking process. The workers were not recruited based on the experience rather just to make money without caring about the workers. The last victim to die was Mitchell Sweeney who died of electrocution while he was using metal staples for the conductive insulation in Cairns in Queensland in February 2010. There were safety hazards, however, it was no t followed and that led to the death of the young boy. Titan insulations was sued as they provided no training and instructions before working and a strong action was taken against the company. This shows that the frontline workers; mistakes were preventable and would have saved the insulations workers life. This explains that workplace fatalities should be thoroughly understood to avoid hazards and work to design a good workplace (Asanka and Ranasinghe 2015). Workplace fatalities are common and many workers are killed every year on their job. Out of all fatalities, the maximum deaths occur due to falls at the construction sites 38.8 (364 out of 937 total deaths), struck by object 90 (9.6%), electrocutions 81 (8.6%) and caught in between was 67 (7.2%) in the year 2015 as reported by Occupational Safety and Health Administration (OSHA). In the calendar year 2015, out of 4,379 worker fatalities, 21.4% or 937 were under construction and consisted of one out of five deaths (Janicak 2014). The above statistics shows that the construction sites are mostly affected and prone to workplace hazards. There is lack of safety measures and risk management for the workers while working at the construction sites. Likewise, the HIP program depicted that there was lack of understanding of the risks and hazards that would take place at the construction sites and up taking of proper measures to prevent it (Sousa, Almeida and Dias 2014). The death of the victims in HIP clearly suggests that the death was preventable and saved their lives. It suggested that employers would have recognized that roof spacing in the dangerous working places was important to note and helped in managing the risk. However, the deaths that occurred were at different instances, the basic reason remains the same. It is the blame on the system and the management that despite of knowing the risk and hazards, they did not take any measure to look after the well-being of the workers and only wanted profit. The frontline workers (managers) knew that working at the construction sites is dangerous and experienced workers were required, however, they hired minors with no practical occupational experiences (Nadhim et al. 2016). Matthew Fuller, the victim, although had basic occupational and safety certificate, however had no training or experience in installing insulation. His employer gave no training with no supervision as he was not made aware of the stapling through the electrical cords and the death consequences associated with it. His training and supervision was inadequate and as a result, blame on the safety management system that contributed to his death. In a similar manner, Rueben had no occupational health and safety qualifications and received no training on the installation of insulation and risk management while working at the sites. The basic safe management system was required, however, it was not utilized at the job site that contributed to his death. These death instances clearly show that the management was deficient and provided no electrical safety for the workers (Bluff 2014). The death of the workers in HIP project also suggests that there was lack of safety management and good work design principles. It explains that an effective design should be able to protect the workers from risk or hazard that affect their health, welfare and safety. It should promote the health and well-being of the workers, also ensure productivity of the workers, and as a result, provide business success. According to Safe Work Australia, there are ten principles of good work design that prevents occupational injury and illness. It also helps to attain the highest-level protection that is practically possible. It also enhances the well-being and health of the workers and in turn, optimizes the worker function and their productivity. As a result, it enhances the productivity leading to success of the business. It also help to address the biomechanical, physical, psychosocial and cognitive work characteristics along with capabilities and needs of the involved people. This designing of good work design should be decided with the stakeholders and review that the decisions are acceptable or not (Reason 2000). The stakeholders involved in the protection and safety of the employees or workers are frontline workers like Managers, employers, Health and Safety Executives (HSEs), principal, supervisors, shareholders and other representatives like occupier, supplier and installer. They are the key personnel who have the responsibilities for the hazard identification at the workplaces. Communication is also important between the stakeholders in conveying the OHS information and motivates the employees to ensure continued safety in the organization. The leading cause of fatalities in frontline workers is at the construction sites excluding highway collisions that include falls, electrocution, struck by object, and caught in between objects. These are the major fatalities causes and responsible for the 64.2% of the total workplace fatalities. There is lack of training by the employers or qualifications in occupational health and safety. In the HIP project death, there were inadequacies in the system and management where there was lack of training, proper recruitment and supervision by an experienced tradesman. In some cases, where there was experience, there was lack of effective work safety system and active steps required to save the workers from on-site dangerous practices (Quinlan 2014). In the death of Marcus Wilson, although he had some training in insulation, he lacked experience and was not acclimatized to very hot working conditions. This shows that lack of training, supervision, experience and poor working conditions be cause of bad safety management system, frontline workers fatalities occur on a large scale and require change (Bal et al. 2013). The prevention of workplace fatalities is the prime goal of the safety management system where the employers lack leadership roles to prevent fatality and lead to inevitable death. According to Centres for Disease Control and Prevention (CDC) there should be well designing of the risk assessment tools to identify the specific workplace risks and most importantly, provide safety training to create awareness among the employers and ways to prevent it. A physical ability test is important before recruiting to make sure that the workers are physically capable to meet the demands of the job and existing workers are fit to handle the physical demands of the job. Proper supervision, training by the employers and effective recruitment can help to prevent the frontline workers fatalities and ensure safety at workplaces (trove.nla.gov.au 2010). Risk management is important at workplace to ensure workers safety and healthy being. For example, in Australia, the risk management ensure to provide workplace health and safety that eliminates or minimize the risk for injury or harm that people might be exposed to at workplaces or work activities. The basic step include the identification of hazards, assessment of the risk of the harm and existing control measures, extra measures to be taken and reviewing whether the controls are working or not. The death of the victims in HIP clearly suggests that employers would have recognized that roof spacing in the dangerous working places was important to note and helped in managing the risk. The prevention of workplace fatalities is the prime goal of the safety management system where the employers lack leadership roles to prevent fatality and lead to inevitable death. Proper supervision, training by the employers and effective recruitment can help to prevent the frontline workers fatalitie s and ensure safety at workplaces. References Asanka, W.A. and Ranasinghe, M., 2015. Study on the impact of accidents on construction projects. InProceedings of the 6th International Conference on Structural Engineering and Construction Management(pp. 58-67). Bal, M., Bryde, D., Fearon, D. and Ochieng, E., 2013. Stakeholder engagement: Achieving sustainability in the construction sector.Sustainability,5(2), pp.695-710. Bluff, E., 2014. Safety in machinery design and construction: Performance for substantive safety outcomes.Safety science,66, pp.27-35. Cunningham, T.R., Sinclair, R. and Schulte, P., 2014. Better understanding the small business construct to advance research on delivering workplace health and safety.Small Enterprise Research,21(2), pp.148-160. Hanger, I., 2014. Report of the Royal Commission into the home insulation program. Hopkins, A., 2005.Safety, culture and risk. CCH Australia Ltd. Janicak, C.A., 2014. OSHAs Enforcement of Asbestos Standards in the Construction Industry.Open Journal of Safety Science and Technology,4(04), p.157. Nadhim, E.A., Hon, C., Xia, B., Stewart, I. and Fang, D., 2016. Falls from height in the construction industry: a critical review of the scientific literature.International journal of environmental research and public health,13(7), p.638. Quinlan, M., 2014.Ten pathways to death and disaster: learning from fatal incidents in mines and other high hazard workplaces. Sydney: Federation Press. Reason, J., 2000. Human error: models and management.BMJ: British Medical Journal,320(7237), p.768. Smoleniec, L., McManus, P. and Duncan, E., 2017. Understanding the dynamics of sustainability transitions: the Home Insulation Program.Australian Geographer, pp.1-21. Sousa, V., Almeida, N.M. and Dias, L.A., 2014. Risk-based management of occupational safety and health in the construction industryPart 1: Background knowledge.Safety science,66, pp.75-86. Sunindijo, R.Y., 2015. Improving safety among small organisations in the construction industry: key barriers and improvement strategies.Procedia Engineering,125, pp.109-116. trove.nla.gov.au (2010).Managing occupational health and safety : a multidisciplinary approach / Philip Bohle and Michael Quinlan. [online] https://trove.nla.gov.au. Available at: https://Quinlan, M, Bohle, P Lamm, F 2010, Managing occupational health and safety, 3rd edn, Palgrave Macmillan, Melbourne. Chapter 2 esp. pp.90 102. [Accessed 14 Aug. 2017]. Zhou, Z., Goh, Y.M. and Li, Q., 2015. Overview and analysis of safety management studies in the construction industry.Safety science,72, pp.337-350.

The Color Purple Essays (1818 words) - Literature, Film, Fiction

The Color Purple Wilson, 1 Katie Wilson Ms. Allen English 11, 3 10 June 2000 The Color Purple Change over time was a theory that was first realized by the Greeks and, only thousands of years later, accepted as fact. As time goes by, things change. And this change is never more evident than in human growth and development. But what is it that causes human metamorphosis to occur? Oftentimes, the change comes from within, simply the innate desire to improve oneself. Other times, the transformation is directly the result of outside influences; such as a significant event or inspiration from respected individuals and role models. The latter is the case in Alice Walker's The Color Purple. In this novel, Walker uses the influence of other strong female characters to act as catalysts on Celie's journey of self-discovery. Inspired by Sophia, Celie is able to establish her independence from her abusive husband. Celie knows she is controlled by Mr.___ and acknowledges this when she think ?bout how every time (she) jump when Mr.___ call (her)? (Purple, 38). Celie's weakness is justified, considering that male domination is a constant in her life. Passed from one chauvinistic man to another, women in subordinate roles is all she knows and can relate to. As put by critic Donna Wilson, 2 Winchell, ?At first fighting back does not even seem an option, survival seems the best she can hope for, in this world at least? (86). However, witnessing the relationship between her son-in-law Harpo and his wife Sophia brings Celie to the realization that such abuse is not necessary and instills in her the desire to stand up for herself. This is evident in Celie's envy of Sophia's strength towards Harpo; ?I say it because I'm jealous of you. I say it because you do what I can't? (Purple, 42). Celie longs for the courage she finds in Sophia. Years of abuse has made her feel that she cannot assert her own independence, and that she is powerless against her husband's controlling ways. This desire to improve, coupled with the encouragement of Sophia, moves Celie to assert herself. Sophia persuades Celie to stand up for herself; ?You ought to bash Mr.___ head open, she say. Think about heaven later? (Purple, 44). She emphasizes to Celie that she needs to start caring about the life she is presently living. Sophia tries to make her realize that she doesn't have to put up with the way Mr.___ treats her. And, finally, Celie is able to find it within herself to leave Mr.___; ?You a lowdown dog is what is wrong, I say. It's time to leave you and enter creation. And your dead body is just the welcome mat I need? (Purple, 207). The opposition Celie exhibits is the first time she directly stands up for herself. Her defiance shows that she realizes that Mr.___'s treatment of her is inappropriate, and she is no longer willing to put up with such abuse. She finally Wilson, 3 finds the confidence and power to take the first step to break away from the restraints of her old life and start over on her own. Celie's ability eventually to stand up and leave Mr.___ is also due in part to her ?discovering a definition of God that is large enough to encompass even the poor, ugly black woman that she feels herself to be? (Winchell, 86). This growth is initiated by ?the arrival of Shug, (which) is the final turning point in Celie's search for identity? (Barret). Love is noticeably absent from much of Celie's life. The men in her life have never lost an opportunity to remind her that she is worthless; ?But what you got? You ugly. You skinny. You shape funny. You too scared to open your mouth to people?You not that good a cook either? (Purple, 89). This kind of verbal abuse, attacks, not only on her physical appearance but also on her person, is an everyday part of Celie's life, leaving her with a minimal sense of self-worth. In addition, the only people that Celie has ever loved, her sister Nettie and her two children, are taken away from her. She is left only with her husband, who she feels little for except fear. Sex, usually

Powell Surname Meaning and Family History

Powell Surname Meaning and Family History The Powell surname typically originated as a contraction of the Welsh Ap Howell, meaning son of Howell. The given name Howell is an anglicized form of Hywel, meaning eminent in Welsh. Due to the system of Welsh patronymics, many individuals living today who use the Powell surname originally descended down that line from a family that may have used a different surname. Surname Origin: Welsh Alternate Surname Spellings:  POWEL, POUEL, POWELLS, PAUWEL, PAUWELS, POWELS Famous People with the Powell  Surname Colin Powell - American diplomat and military leader;  the first African American appointed as the U.S. Secretary of StateWilliam Powell  -  William Powell was a baritone-voiced actor remembered for playing Nick Charles in The Thin Man films.Adam Clayton Powell Jr.  -  20th century clergyman and U.S. representative; civil rights activistJohn Wesley Powell - American scientist, soldier and explorer;  credited with leading the first group of white men down the Colorado River through the Grand CanyonEnoch Powell -  British politician, classical scholar, linguist, and poet Where Is the Powell Surname Most Common? The Powell surname, according to surname distribution information from Forebears, is the 1,441st most common surname in the world. It is most common today in Wales, where it ranks as the 23rd most frequent surname. It is also among the top 100 surnames in England (88th), the United States (91st) and Jamaica (32nd). Powell is a common last name throughout Wales, but especially in the southern regions such as around Glamorganshire, Brecknockshire and Radnorshire. WorldNames PublicProfiler indicates the Powell surname is especially frequent in Wales and western England, particularly Herefordshire and Monmouthshire. Genealogy Resources for the Surname Powell Powell Surname DNA ProjectOver 470 members have joined this Y-DNA project to work together to use DNA testing along with traditional genealogy research to help determine Powell origins and distinguish between various Powell lines. Powell  Family Crest - Its Not What You ThinkContrary to what you may hear, there is no such thing as a Powell  family crest or coat of arms for the Powell surname.  Coats of arms are granted to individuals, not families, and may rightfully be used only by the uninterrupted male line descendants of the person to whom the coat of arms was originally granted. Powell Family Genealogy ForumThis free message board is focused on descendants of Powell  ancestors around the world. Search the forum for posts about your Powell ancestors, or join the forum and post your own queries. Since Powell is an old Welsh surname, you may also wish to consider joining the Welsh Patronymics DNA Project. FamilySearch - Powell GenealogyExplore over 4 million  results from digitized  historical records and lineage-linked family trees related to the Powell surname on this free website hosted by the Church of Jesus Christ of Latter-day Saints. Powell Surname Mailing ListFree mailing list for researchers of the Powell  surname and its variations includes subscription details and a searchable archives of past messages. GeneaNet - Powell  RecordsGeneaNet includes archival records, family trees, and other resources for individuals with the Powell  surname, with a concentration on records and families from France and other European countries. The Powell  Genealogy and Family Tree PageBrowse genealogy records and links to genealogical and historical records for individuals with the Powell  surname from the website of Genealogy Today.- Source Cottle, Basil.  Penguin Dictionary of Surnames. Baltimore, MD: Penguin Books, 1967. Dorward, David.  Scottish Surnames. Collins Celtic (Pocket edition), 1998. Fucilla, Joseph.  Our Italian Surnames. Genealogical Publishing Company, 2003. Hanks, Patrick and Flavia Hodges.  A Dictionary of Surnames. Oxford University Press, 1989. Hanks, Patrick.  Dictionary of American Family Names. Oxford University Press, 2003. Reaney, P.H.  A Dictionary of English Surnames. Oxford University Press, 1997. Smith, Elsdon C.  American Surnames. Genealogical Publishing Company, 1997.

Sustainable approaches to animal behaviour and welfare research Essay

Sustainable approaches to animal behaviour and welfare research - Essay Example iotic relationship since time immemorial, the other side of the coin that animal too have feelings and superior intelligence have just started dawning on humankind. The nineteenth and the twentieth century saw animals being treated as commodities and exploited without remorse as beasts of burden, as a source of food and entertainment for man, and for biological research in order to search for the secrets of life and cures for debilitating diseases. Voices started being raised for animal welfare during the latter half of the twentieth century when people from some sections of society observed the cruelty being meted out to the poor creatures. Soon, volunteer and social organizations for animal welfare cropped up in all parts of the world and research activities were directed towards the investigation and formulation of better animal welfare policies and initiation of endeavours to stop cruelty on animals started being conceived. Animal welfare science has developed over the last few years as a specialist entity and has come to be recognised as an interdisciplinary effort (Lund et al, 2006). However, the authors feel that it has till now bean the mainstay of representatives of natural sciences only and needs to adopt a broader interdisciplinary perspective to increase its horizon of activity (Lund et al, 2006). The concerns for animal welfare are being addressed internationally by organizations such as the OIE (Office Internatio nal des Epizooties) which provides the international trade agreements for animal welfare and the control of diseases in domesticated farm animals (Lund et al, 2006). The authors feel that the time has arrived when the discipline of animal welfare should encompass a broader horizon by making it a trans-disciplinary subject, as so far it has stayed within the confines of natural sciences only. Animal psychology, ethics, politics and economics too need to be brought into the perspective of animal welfare science according to the authors (Lund et

Analysis Essay Example | Topics and Well Written Essays - 750 words

Analysis - Essay Example The primary difference between fiction and nonfiction is the genesis of the story. For nonfiction, the author creates a story that has its entire framework already exists. That is, the events of the story and the characters correspond to real events and individuals. The author may creatively fill in details, such as various minor events and minor aspects of character, but this does not make the work fiction. A writer of nonfiction is allowed to alter minor details in order to create a piece that is interesting to read. The majority of life is boring and to make a work of nonfiction interesting and purposeful minor alterations are often needed. In contrast, authors of fiction create a story that does not have an existing framework. The author must create events and characters entirely from his own mind. These events and characters might contain characteristics and details that originate in various situations and people in the author’s life, but this does not make the work nonfi ction. Fiction is the creation of a piece from the elements of the author’s mind. In short, nonfiction is altering true events and characters to create a purposeful piece of writing, and fiction is creating events and characters by rearranging parts of the author’s knowledge to create a purposeful piece of writing. Part II The narrator of â€Å"No Name Woman† by Maxine Hong Kingston is a woman who is lacking an identity. She is the daughter of a Chinese immigrant family, and as such, she has no identity in America. In order to create some semblance of a life, she focuses on understanding herself by understanding her cultural history. From this history, she selects her aunt who committed suicide due to pregnancy borne of adultery. This aunt was a ghost, a woman erased from the family’s past. In her aunt, the narrator finds a kindred soul, a woman with no identity. By creating an imagined life for this aunt, the narrator creates a life for herself. Each par t of the aunt’s life has a corollary in the character of the narrator. The narrator considers her aunt’s unknown lover as a means of understanding her own beliefs about love and belonging. The aunt’s lover is someone in the village, but she never reveals him, and he never reveals himself. When thinking about her aunt’s lover, the narrator considers what it means to be attractive in American culture. She wonders how she will attract Chinese boys without attracting everyone else. She is even unsure of whom she wishes to attract. She finds the pain she feels in trying to find someone to love in her new culture reflected in her aunt’s life. The village punishes the aunt for attempting to have a private life, and the narrator feels punished for having a private life as well. The aunt’s role as an outcast in her community mirrors the narrator’s view of herself as an outcast in American society. The narrator understands that her aunt was an outcast because the aunt was living with her parents when she should have been living with her husband’s parents. From this realization, the narrator reasons that the family would have forced the aunt to eat alone and separate from the family. This separation is what the narrator feels in America. She both takes part in the culture and is separated from it. Lastly, the aunt’s story creates a fear within the narrator that endures for twenty years. Because of the shame she has brought upon the family, the aunt is cast from the family home the night her baby is born. That

U.S. TRADES Essay Example | Topics and Well Written Essays - 750 words

U.S. TRADES - Essay Example The major export categories were Machinery, Mineral Fuel and Oil, Vehicles, and Plastic. NAFTA (North American Free Trade Agreement) has promoted this link by including wide-ranged, market-opening regulations in the agreement. It is also developed a more impartial set of trade policies so the trade barriers can be decreased and removed in Mexico (BesedeÃ… ¡, 2013). Since this agreement was signed, the trade has increased sharply among the nations who are parties to it; however, this increase of trade activity has caused increasing trade deficits for the US with both Canada as well as Mexico. Japan is the third largest partner of the US with around 300 billion USD in goods and private services trading during the year 2013. In 2010, the Economic Harmonization Initiative was launched between US and Japan to boost the economic growth of both countries by promoting collaboration to harmonize policies that facilitate trade. With the four percent (around 3.00 billion USD) drop as compared to 2012, the US goods trade deficit with Japan was 73 billion USD during 2013, and accounted for 11 percent of the entire US goods trade deficit. The Asia-Pacific region is of vital significance for the US as it is the rapidly developing region as well as a key driver of international economic development. In fact, the region already formed more or less 60 percent of international gross domestic product and around 50 percent of global trade, and is likely to grow by nine percent in 2014. During 2011, the Trans-Pacific Partnership (TPP) nations had the entire GDP of 18 trillion USD, of which more or less â€Å"85 percent comprised the US economy† (Williams, 2013, p. 98). United States exports to existing TPP affiliates were around 110 billion USD during 2011 and imports were 95 billion USD, indicating that the US had a trade surplus with existing TPP economies of approximately 14 billion USD. Benefits to the US from the trade

Intermediation Process and the Allocation of Resources

Intermediation Process and the Allocation of Resources The importance of the financial system in facilitating economic development cannot be overstated. Banks and other financial institutions have a key role in the efficient allocation of resources and as such, sound financial systems are systemically important to the economic viability of a country. The Asian Financial crisis of 1997-98 brought home the significance of financial sector soundness by highlighting the consequences of underlying weaknesses in the financial sector and the negative impact that weak financial sectors could have on stakeholders, particularly the depositors. Sound financial system is therefore not only important for the welfare of the financial entities themselves, but it is also of vital importance to the growth of individual economies. In allocating resources in an economy, financial institutions must assess competing demands for funds and prioritize the analysis of risk. Improper decisions about financing activities, that is, which activities to finance and which not to finance, (depending on which activities will bring the best risk-adjusted return), can have a crucial negative long-term impact on economic prospects. Sound investment decisions are vital ingredients in fostering economic growth and development. These decisions therefore should produce feasible outcomes not only for the financial intermediary but also for the economy. Investment should be for productive purposes and should be deployed for the common good. Financial intermediaries should also have a harmonious relationship with the macro-economic space within which they operate. For example, in the nineteenth century, Britain was seen as the most successful economy and was the home to the worlds most successful financial centre at the time. This was not only due to the fact that London had developed expertise in assessing risk and in allocating financial resources efficiently, but also to the fact that the macro economic environment was conducive to the operation of financial intermediaries operating in the financial centre. The assessment of risk also assists financial institutions to be individually more competitive with their peers. This results in a more efficient process of capital allocation in addition to engendering more prudent practices. Financial intermediaries that can assess risk and allocate resources efficiently will outperform those less skilled in this regard. Effective competition should reduce borrowing costs and help to diversify financial risk within the economy. However, to ensure that banks are performing as intended, an effective regulatory framework must exist. The importance of adequately capitalized financial institutions to underwrite appropriate risks in their portfolios cannot be over emphasised. If financial intermediaries undertake too little risk, then potentially efficient projects may be starved of capital and if they undertake too much risk, then less efficient projects may consume capital that could be used for more viable projects. The role of regulators in providing effective oversight for the sector and be able to respond appropriately to changes in the financial environment becomes even more important. William J McDonough (1998) postulates that a nation must be able to mobilize domestic savings and other sources of funds that are needed to finance investment and other productive expenditures[1]. This requires the development of an effective banking system that transfers surplus funds of households and businesses to borrowers and investors. He further argues that, fair and impartial allocation of credit accommodates the economic development that results in improved national living standards. According to McDonough: financial intermediation is particularly important in the context of most emerging market countries given the relative scarcity of savings, a relatively under-banked population, and large-scale investment needs. The banking sector in emerging market countries also tends to be more concentrated and represents a larger share of the domestic financial system. Consequently, issues in the banking sector have an amplified effect on the economy and on the fiscal costs associated with bank rescues. Importantly, current developments in western economies are anchored in a robust financial sector development.. Consequently, the relationship between economic growth and financial sector health are now more closely linked than ever before. Some of these linkages or interrelationships are further explored in this thesis from the perspective of risk relationships. The demands of the changing business environment emphasize the importance of effective risk management practices in banking institutions. Financial intermediaries continue to face tremendous unrelenting pressures regarding pricing decisions, increase in service expectations from customers, regulators and shareholders. There is also a demand for more sophisticated products and services, new regulatory requirements, improved capital standards, more capital injection and the introduction of new technologies and systems. Technology is important in supporting new and flexible risk relationship structures in the areas of credit, market, liquidity and operational risk management. Advanced technologies are often used by intermediaries to identify, quantify and monitor risks. The employment of these technologies also comes with their own attendant risk exposures and as such significant investments and focus have been placed (particularly in recent times) on operational risk management issues from both regulatory and financial intermediary perspectives. Risk management must be seen as an integrated process and as such managing existing relationships, developing new relationships and leveraging the value of all risks relationships are critical to the management of overall risk exposures. It is important therefore that the approach which institutions and regulators take in managing risk, be relational. Both the qualitative and quantitative aspects of risk management must find consensus within the same framework. No longer should institutions view risk as an isolated and individualized structure with separate and mutually exclusive elements but risk should be managed as a system, which is intricate, collaborative and bound by mutual responsibilities. Banking Supervision The identification, assessment, and promotion of sound risk-management practices have become central elements of good supervisory practice. Risk management has evolved as a discipline that is driven both by the private sector (made up of banking institutions and other market participants) and public sector (especially Regulatory Authorities and Banking Supervision). The relationship between the private sectors interest in economic capital and the public sectors interest in regulatory capital should be identified and managed in a framework that ensures optimization. With regard to the management of risks and risk relationships, several key innovations have been made by the private sector over the years. These are evident in the way financial intermediaries have ordered their balance sheets to respond to various risk stimuli and impulses both internally and externally. Additionally, the private sector has been the driving force behind the development of sophisticated tools used to identify, measure and manage risk relationships. The public sector on the other hand, has been at the forefront in the development of best practice standards and principles used to guide financial intermediaries. For years, the public sector has been playing a pivotal role in preventing the total collapse of the entire financial systems in their capacity of lender of last resort. The regulatory and supervisory arms of the public sector have taken the lead in identifying emerging issues through their approach to supervision of financial intermediaries. Several regulatory bodies routinely performs on-site inspections and examinations as well as off-site monitoring and surveillance of banks and other financial institutions to assess risks and provide feedback to the financial intermediaries board and management. These reviews include the assessment of policies and procedures in place to guide risk management; the assessment of governance and internal controls and the assessment of capital adequacy, asset quality, earnings and liquidity and sensitivities to risks. Reviews could also include comparisons of peer institutions coupled with the establishment of guidelines that codify evolving practices. Yellen (2005)[2] argued that although banks and bank supervisors have different motives, which certainly can lead to differing views about the appropriate levels of risks, they also have a common interest in having accurate measures of risk and in focusing on the processes and techniques for identifying and managing risks. According to Alan Greenspan (2004),[3] the growth in the size and complexity of the largest US and foreign banking organizations, in particular, has substantially affected financial markets and supervisory and regulatory practices. He further states that authorities are required to focus more than before on the internal processes and controls of these institutions and on their ability to manage risk. According to Greenspan, the regulatory authorities must provide the industry with proper incentives to invest in risk-management systems that are necessary to compete successfully in an increasingly competitive and efficient global market.[4] The Basel Frameworks Over the last two decades, the system of bank capital standards has been the Basel Capital Adequacy Standard, known as the Basel I framework, which was established internationally in 1988. The Basel I standard came out of the banking supervision sub-group of the Bank for International Settlement (BIS). The Banking subgroup is made up of supervisors from the G10 countries. This group has been charged with the responsibility for setting bank standards around the world, which it does predominantly through the development and implementation of the Basel Core Principles for Banking Supervision. The Basel I framework was particularly geared towards credit risks in banking institutions and resulted in higher capital levels, a more equitable international marketplace and the relating of regulatory capital requirements to risk appetite and risk profile. The Basel framework is a dynamic one to which bank as supervisors continue to make important adjustments from time to time. For example, the 1988 Capital Accord was amended subsequently to incorporate a market risk component. Bernanke (2005)[5] argues that advances in risk management and the increasing complexity of financial activities have prompted international supervisors to review the appropriateness of the regulatory capital standards under Basel I, particularly for the largest and most complex banking organizations. Bernanke states further that supervisors recognize that some of the largest and most complex banking organizations have already moved well beyond Basel I in the sophistication of their risk management and internal capital models. The gap between the determinants of minimum regulatory capital (under Basel I) and the levels of risks that financial institutions were taking on began to widen, as risk relationships continue to become more complex and risk-management practices continue to evolve. Several innovations have sought to collectively reinforce this gap and indeed the relationship (regulatory capital/risk appetite) between the public sector and the private sector has also being mutually reinforced. These innovations have predominantly being originated by bankers in the private sector and not by Supervisors. Bankers and Risk Managers had developed models that encompass their processes, procedures, and techniques, including statistical models for assessing risks in their portfolios. These innovations by the private sector were seen as state of the art risk management tools which the public sector could use and as such Regulators began to leverage the risk management techniques that banks were using to address shortfalls in Basel I. This phenomenon helped to push the Basel Committee back to the drawing board to create the new capital adequacy standards for internationally active banks, known as Basel II. Bernanke (2006)[6] argues that the new framework links the risk taking of large banking organizations to their regulatory capital in a more meaningful way than does Basel I and encourages further progress in risk management. It does this by building on the risk-measurement and risk-management practices of the most sophisticated banking organizations and providing incentives for further improvements. When this framework is applied consistently across internationally active banks, Supervisors can easily identify shortfalls in the relationship between banks capital and risk levels. Banking institutions with capital levels that are not commensurate with their risk profile and risk levels would be subjected to closer assessment and monitoring. Additionally, Basel II has provided the Supervisor with an added tool, under the supervisory review process (Pillar II) to assess risks in the banking system. The new capital accord, Basel II, with its three pillars, will hopefully enhance and strengthen the process of risk management in banking institutions. Internationally active banks, and other banks and investment businesses in jurisdictions in which regulatory authorities deem it prudent to bring these institutions in scope, should expect significant revisions and modifications in their internal policies used to identify, measure, manage and report on risks. Not only should improvements be seen in risk management policies, but the process and general procedural framework would also see improvements. In this regards, banks and other financial institutions should envisage changes in their system used to capture and report on risks. Under Pillar I, changes are expected I the risk weights assigned to the credit portfolios, particularly, residential mortgages and as such banks could see some reduction in charges as weights for some categories are reduced. The reporting of market risks and operational risks should also improve as banks garner more granular data on its expected losses and risk exposures. In preparation for the supervisory review process (Pillar II) to be conducted by the regulatory authorities, banks should see significant improvements in their risk management practices as they subject their internal capital adequacy models to greater levels of scrutiny to ensure that the capital cover is adequate for all the material risks identified, their risk appetite, and risk exposures. The use of stress testing on both the banks investment and credit portfolios under the pillar II process should also seek to strengthen the institutions approach to deal with adverse down turn and general deterioration in some macro economic variables in the economies in which the banks operate. This should push banks to increase capital levels to cushion expected losses. Pillar III implementation under the new capital accord should also foster greater improvements in the risk management, policies, processes, and procedures of banking institutions as banks become more transparent in their efforts to disclose more information on the profile of risks, risk exposures and capital levels to their stakeholders. The Sub-prime Mortgage Crisis The conditions that gave rise to the current sub-prime mortgage crisis provides ample evidence to support the pressing need for both private and public sector, financial institutions and supervisors, to understand the nature and nexus of risk relationships and regulatory capital. The crisis also provide an opportunity for financial institutions and regulators to explore the risk relationships and risk dynamics existing within and outside of financial intermediaries, as well as the impact that failure to properly identify and assess risk exposures in financial institutions can have on the global financial system and economic growth and development in a particular country. The ongoing economic problem resulting from the sub-prime mortgage crisis has manifested itself through liquidity issues in the global banking system. The credit crisis has its genesis in the bursting of the US housing bubble and the subsequent high default rates on sub-prime or other adjustable rate mortgages, made to borrowers with higher risk profile and lower income levels, instead of to borrowers who are considered prime borrowers with higher income and good credit history. Borrowers were encouraged to take up mortgages based on the attractive housing incentives that led them to believe that notwithstanding the long term trend of rising housing prices, they would be able to refinance these mortgages at more favourable terms in the future. During 2006 however, the prices of houses started to fall, albeit moderately and as such, the possibility of refinancing was becoming more remote. Consequently, the interest rates on the adjustable rate mortgages (ARM) that the sub-prime borrow ers were able to obtain began to reset at the higher rate resulting in a significant increase in defaults and foreclosures. In 2007, foreclosure activities increased by approximately 80 percent over the 2006 figures as nearly 1.3 million United States housing properties were subjected to foreclosure activities. Major banks and other financial institutions globally reported losses of approximately US $379 billion towards the end of the first half of 2008. The first set of financial institutions to be impacted was mortgage lenders that retained the risk of payment default (credit risk). Several third party investors were also affected, as mortgage lenders had passed on the credit default risks arising from the rights to the mortgage payments through mortgage backed securities (MBS) and collateralized debt obligations (CDO). Individuals, institutional investors and other corporate entities holding MBS or CDO were now faced with significant losses as the value of the underlying mortgage assets declined. The sub-prime mortgage crisis also exposed financial institutions to liquidity risks as lenders were forced to reduce lending activities or grant loans at higher interest rates. The higher interest rate loans restricted the ability of corporations to obtain funds through the issuance of commercial paper, thereby posing liquidity challenges for several institutions. As a result, central banks, in their role of lenders of last resort, were forced to take action to provide funds to the banking sector so as to stimulate the commercial paper market and to encourage the resumption of lending to borrowers with good credit profile. The rate at which economies grew was also impacted by the credit crisis as business investments and consumer spending were curtailed due to the general unavailability of loans or the high cost of loans in cases where it was available. The United States government responded by cutting the federal reserve interest rates as well as proposing its economic stimulus package which was passed by congress in February 2008. This was necessary to alter the risk exposure to the broader economy brought on by the credit crisis and the related downturn in the housing market. Research Problem and Hypothesis While the benefits of risk management and positive risk relationships have been increasingly recognized in financial sectors worldwide, this study postulates that (i) risk relationships have not been sufficiently explored in the region and current risk management practices in the Caribbean have not kept pace with international trends on financial risk management and (ii) levels of capital being held by financial intermediaries in the Caribbean could be deemed inadequate to mitigate risk exposures. It could also be argued that where there are high levels of risk exposures in financial intermediaries in the region, the impact of risk mitigating factors are low and risk management policies, processes and procedures are less than robust. Additionally, risk exposures and regulatory capital might vary according to core business activities, risk categories or geographic location. In recognition of the existence of these relational gaps and the need to bridge them, this study will introduce principles, procedures, approaches, models and concepts in risk management, and concentrate on those risks inherent in the financial intermediaries balance sheet or risks associated with various elements of financial activities and environment. The writer will analyse the risk profile of financial intermediaries and their exposure to credit risks, funding/liquidity risks, interest rate risks and operational risk. The study also seeks to develop benchmarks for measuring risks in the region as well as a risk management scoring model with particular emphasis on the risk profile of Caribbean financial intermediaries. Sub-problems The first sub-problem is to ascertain the risk profile and relationship evident in financial intermediaries in Jamaica, Trinidad and Barbados, as well as those which may evolve consequent to the new Basel Capital Accord, Basel II, which is scheduled to be fully implemented by 2015 across all jurisdictions. The intention is to assess the risk profile and relationship in operation as a dynamic process and the likely impact of the capital accord on relevant financial entities. The second sub-problem is, using both the relevant and existing literature concerning risks, risk relationships and risk management and observation of current techniques, to ascertain throughout the course of the study, types of risk relationships that exist in credit, liquidity, interest rate and operational risk management in financial intermediaries. The third sub-problem is to provide the financial sector with a set of sound testable ideas that are systemically desirable and consistent with the future development of risk assessment. This will be done by reviewing the analyses outlined in the first two sub-problems, generating relevant model/framework of risk assessment, comparing the model/framework with real situation, identifying systemically desirable changes and documenting the results for the benefit of relevant stakeholders who are capable of applying change to the banking sector in general. Hypothesis The first hypothesis is that risk exposures (credit, liquidity, interest rate and operational risks) in financial intermediaries in Jamaica are relatively high when compared with Trinidad and Tobago and Barbados and could exhibit parasitic tendencies. This could impair the financial intermediaries ability to identify, measure, mitigate and monitor risks due to the fact that the internal control framework could be seen as less than robust. The second hypothesis is that there will be shortfalls in capital requirements specifically as a result of the introduction of the new Basel Capital Accord and more generally after taking account of specific risks not previously considered by financial intermediaries. The third hypothesis is that the cycle of analysis, application and testing will result in the implementation of rigorously defined early warning system for modelling and scoring risks and that this system will be adaptable to change, both outside and within the environment, and extendable to additional use. Justification for the Research Sound risk management practices, which include appropriate tools and techniques and the employment of relevant steps to assess risk exposure are at the heart of effective financial intermediation. However, many institutions are exposed to high levels of risks in their operations and few have put in place the relevant infrastructure to appropriately capture their risk exposures. According to the Government of Jamaica, Ministry of Finance (1998)[7]: the financial distress experienced in the mid nineties was in several ways due to the fact that many domestic financial institutions did not have the necessary risk and financial management capabilities to carefully assess the risk. As a result, they were left holding real estate and other long-term assets that could not be easily disposed of to meet their short-term obligations. The Ministry highlighted the fact that: banks in Jamaica tended to invest in enterprises that were outside the scope of their core business which had the following implication: The banks entered sectors in which their management did not have the requisite skills or expertise. The banks, when lending to related parties or parties under common control either (i) made poor and biased credit decisions; or (ii) invested in companies on less than arms length terms resulting in poorly secured loans. The banks, in many instances had fund investments in non-core businesses with short-term borrowing instruments with guaranteed high interest rates. As a result, many non-core business had to contend with an unsustainable capital structure that relied heavily on high cost loans with relatively short maturities[8]. Many studies have highlighted the risk management practices, including techniques and tools used to identify, measure, mitigate and monitor risks in industrial countries. However, few studies (note the researcher is not aware of any at the time of preparing this thesis) have sought to understand and explain the risk exposures, risk relationships and risk management practices in financial intermediaries in the Caribbean, particularly Trinidad and Tobago, Jamaica and Barbados. The study utilizes a novel approach to analyse risk exposures and risk relationships, which has not been evidenced in the literature generally and definitely not seen in research on risk management in the Caribbean region. The risk profile of financial intermediaries are analysed using ratio analysis and statistical techniques including the standard deviation and arithmetic mean coupled with a five-point scale response to determine risk relationships based on a biological science description. This study will document over a ten-year period, sectoral differences in risk exposure reflected in the balance sheets and income statements of commercial banks, merchant banks, trust companies and building societies in three Caribbean countries. The results of the research will provide a sound set of ideas for the management of risks in these institutions in emerging markets. It will also provide an enduring account of risk relationships and the implications of sound risk management practices in general. Thesis Outline and Methodology The study examines the risk management framework in emerging markets in the Caribbean region. The focus will be limited to three jurisdictions in the Caribbean region. These are Jamaica, Trinidad Tobago and Barbados. This paper takes account of four types of deposit taking financial institutions Commercial Banks, Trust Merchant Banks, Finance Companies and Building Societies. There are 8 financial intermediaries across the three jurisdictions. Elite interviews were also conducted with senior management in sixteen (16) financial institutions in Trinidad and Barbados. Interviews were held with select senior management executives in the financial institutions. Among the executives interviewed were CEOs, Senior Vice Presidents, Risk Managers, Credit Managers, Operations Managers and Treasury Managers. In Jamaica, detailed surveillance were done of all the in scope financial institutions ie, commercial banks, trust and merchant banks and building societies. Reviews of annual reports and websites of all the financial intermediaries captured in the scope of the thesis were also done. The purpose of the review of the elite interviews and qualitative reviews of the websites, annual reports and other published data was to obtain information on four risk categories, particularly on the policies, procedures and processes in place to manage risk. Twenty risk proxies were used to calibrate risk exposure across four risk types in the financial intermediaries and the countries. These risk proxies were further reduced to eight based on their relative weights and significance as a risk-sensitive measure. Additionally, eight macro-economic variables were used to assess the economic environment within each country as well as to determine the extent to which these macro-economic variables were correlated with the risk proxies. Using a Likert-type index, correlation analysis and the results of the observation and interviews, the study developed risk benchmarks and risk scores, which were later used to determine risk relationships within financial intermediaries as well as within each country. The aim was to identify the risk relationships and to provide the managers of financial institutions and policy makers with an early warning system to calibrate and mitigate risks. The study analyzed the degree to which three major economies in the Caribbean region were exposed to credit, liquidity, interest rate and operational risks and the extent to which different countries are similar or different in light of these risk exposures. The paper sought to determine the level of risk exposures across four different financial intermediary types in three Caribbean jurisdictions. It expounded on differences and similarities in the risk profile of financial intermediaries and sought to determine which intermediaries are likely to have higher risk profiles. The paper also explored synergies and alliances between the four main categories of risk under study. These are credit, interest rate, liquidity and operational risk. It disaggregated proxies for risks based on risk types and highlighted risks drivers that are significant to different intermediary types or country. Lastly, the paper explored relationship between the critical elements and proposed a model for the scoring of risks. The relational perspective to risk management envisaged risk within three basic constructs namely, Symbiotic, Parasitic and Saprophytic as well as the nexus between these constructs and the internal control framework as measured by financial intermediaries policies, procedures and processes used to manage risks. The Saprophytic Construct At this level, risk is calibrated as being relatively low. Risks outcome are systemically pleasing and financial intermediaries are making meaningful contribution to the common good. Risks and reward can thrive within a conducive macro environment and the profile of institutions balance sheet and income statement contributes positively to the risk calibration outcome. A low level of risk exposure is usually attributed to a very robust internal control framework and more effective risk mitigation strategies. The Symbiotic Construct Within the Symbiotic construct, risk relationships are generally balanced. Risk is calibrated as moderate and the regulatory interest and the economic interest are neutral. Risk management is generally integrated and there is usually a connection between the process of risk identification, measurement, mitigation and monitoring. The profile of intermediaries balance sheets and income statements are viewed as risk-neutral relative to risk outcome and the internal control framework and risk mitigation strategies used by financial intermediaries are generally adequate. The Parasitic Construct Within this construct risks are calibrated as high or very high. There is usually adverse macro-economic condition in existence and there is disconnect between the regulatory interest and the economic interest. There is a general state of disharmony in the qualitative and quantitative approaches and disunity in the way that risk is generally managed. The risk profile of institutions balance sheets and income statements negatively impacts risk calibration outcomes. A hig

The Mafia As A Corporation Essay -- essays papers

The Mafia As A Corporation Violence, blackmail and corruption as business terms, one would doubtfully consider them commonplace, but in the Mafia, nothing is. Looking at the history surrounding the Mafia, and the motivations apparent for its unconventional practices will lead one to realize that it is much more a union aimed at entrepreneurial success than the more common notion that it is simply a malicious group of amoral villains, anxious to wreak havoc. For decades the Italian-American Mafia has employed violent to achieve success in a capitalistic sense. â€Å"The Mafia has changed a great deal since the days of the peasant uprisings in sun-baked Sicily. It has found a place within its ranks for business-school graduates, and it has adopted modern banking methods and invested in legitimate corporate ventures.† The Mafia, also known as La Cosa Nostra, is generally composed of Italians or Italian-Americans that work together as entrepreneurial criminals. La Cosa Nostra literally means â€Å"T he thing ours† but is loosely translated as â€Å"our thing.† The Mafia traces its roots back to Sicily, Italy in the 9th century AD when its purpose was to guard the feudal estates of wealthy landlords. When members of the Sicilian Mafia immigrated to the United States they initially excelled in extortion, but soon adopted gambling and prostitution as business ventures. In order to understand the role the Mafia has played in the United States, it is first necessary to study the formation and role of the Mafia in Italy. The Sicilian Mafia is said to have formed around the ninth century when Arabic tribes invaded Sicily. Native Italians were forced into hiding, taking to the hills and mountains in order to stay safe. The Sicilian Mafia formed to protect Italians from the invaders, and eventually rid the region of its unwelcome foreign foes. At this point, Mafiosi (individual members of the Mafia) essentially became middlemen for business transactions in their particular city or town. In his book The Sicilian Mafia, Diego Gambetta describes the process â€Å"When the butcher comes to me to buy an animal, he knows that I want to cheat him. But I know that he wants to cheat me. Thus we need, say, Peppe [that is, a third party] to make us agree. And we both pay Peppe a percentage of the deal.† This method has many implications. â€Å"Peppe† is trusted by both the con... ...expertise into other fields. With this expansion came the fame and fortune that has made the American Mafia famous in the United States. In time, the Mafia honed their skills, and aligned them with common legitimate businesses practices, which has separated them from common criminals, and allowed themselves to excel. Bibliography 1.)Firoentin, Gianluca and Peltzman, Sam. 1995. The Economics of Organised Crime. The Press Syndicate of the University of Cambridge 2.)Gage, Nicholas. 1971. The Mafia is not an Equal Opportunity Employer. Nicholas Gage 3.)Gambetta, Diego. 1993. The Sicilian Mafia. The president and Fellows of Harvard College. 4.)Mangione, Jerre and Morreale, Ben. 1992. â€Å"Who’s afraid of La Mano Nera, ‘The Black Hand?’† New York, Harper Collins. http://organizedcrime.about.com/gi/dynamic/offsite.htm?site=http%3A%2F%2Fwww.mindspring.com%2F%7Ehistoric-ny%2Fblackhand.htm 5.)Nelli, Humbert S. 1976. The Business of Crime: Italians and Syndicate Crime in the United States. Oxford University Press, Inc. 6.)Pitkin, Thomas M. and Cordasco, Francesco. 1977. The Black Hand: A Chapter in Ethnic Crime. Littlefield, Adams & Co. The Mafia As A Corporation Essay -- essays papers The Mafia As A Corporation Violence, blackmail and corruption as business terms, one would doubtfully consider them commonplace, but in the Mafia, nothing is. Looking at the history surrounding the Mafia, and the motivations apparent for its unconventional practices will lead one to realize that it is much more a union aimed at entrepreneurial success than the more common notion that it is simply a malicious group of amoral villains, anxious to wreak havoc. For decades the Italian-American Mafia has employed violent to achieve success in a capitalistic sense. â€Å"The Mafia has changed a great deal since the days of the peasant uprisings in sun-baked Sicily. It has found a place within its ranks for business-school graduates, and it has adopted modern banking methods and invested in legitimate corporate ventures.† The Mafia, also known as La Cosa Nostra, is generally composed of Italians or Italian-Americans that work together as entrepreneurial criminals. La Cosa Nostra literally means â€Å"T he thing ours† but is loosely translated as â€Å"our thing.† The Mafia traces its roots back to Sicily, Italy in the 9th century AD when its purpose was to guard the feudal estates of wealthy landlords. When members of the Sicilian Mafia immigrated to the United States they initially excelled in extortion, but soon adopted gambling and prostitution as business ventures. In order to understand the role the Mafia has played in the United States, it is first necessary to study the formation and role of the Mafia in Italy. The Sicilian Mafia is said to have formed around the ninth century when Arabic tribes invaded Sicily. Native Italians were forced into hiding, taking to the hills and mountains in order to stay safe. The Sicilian Mafia formed to protect Italians from the invaders, and eventually rid the region of its unwelcome foreign foes. At this point, Mafiosi (individual members of the Mafia) essentially became middlemen for business transactions in their particular city or town. In his book The Sicilian Mafia, Diego Gambetta describes the process â€Å"When the butcher comes to me to buy an animal, he knows that I want to cheat him. But I know that he wants to cheat me. Thus we need, say, Peppe [that is, a third party] to make us agree. And we both pay Peppe a percentage of the deal.† This method has many implications. â€Å"Peppe† is trusted by both the con... ...expertise into other fields. With this expansion came the fame and fortune that has made the American Mafia famous in the United States. In time, the Mafia honed their skills, and aligned them with common legitimate businesses practices, which has separated them from common criminals, and allowed themselves to excel. Bibliography 1.)Firoentin, Gianluca and Peltzman, Sam. 1995. The Economics of Organised Crime. The Press Syndicate of the University of Cambridge 2.)Gage, Nicholas. 1971. The Mafia is not an Equal Opportunity Employer. Nicholas Gage 3.)Gambetta, Diego. 1993. The Sicilian Mafia. The president and Fellows of Harvard College. 4.)Mangione, Jerre and Morreale, Ben. 1992. â€Å"Who’s afraid of La Mano Nera, ‘The Black Hand?’† New York, Harper Collins. http://organizedcrime.about.com/gi/dynamic/offsite.htm?site=http%3A%2F%2Fwww.mindspring.com%2F%7Ehistoric-ny%2Fblackhand.htm 5.)Nelli, Humbert S. 1976. The Business of Crime: Italians and Syndicate Crime in the United States. Oxford University Press, Inc. 6.)Pitkin, Thomas M. and Cordasco, Francesco. 1977. The Black Hand: A Chapter in Ethnic Crime. Littlefield, Adams & Co.