Development of Indias Banking System

Development of Indias Banking System Introduction With a population of over 1 billion, India is one of the most important countries with accelerating economic growth. According to the World Bank (2009), the annual GDP growth of India has been more than 7% over the past ten years. The financial crises in 1997 and 2008 have revealed the importance of robust banking system towards economic development. Indian Government liberalized the banking system through Indian Banking Sector Reform in 1991. From the first bank in India in 1786, the development of Indian Banking System has three distinct phases. Early Phase (1786 1969) There were 1100 small banks in India. The Government implemented the Banking Companies Act 1949 to facilitate the functioning of commercial banks. Reserve Bank of India (RBI) was authorized to supervise the Indian banking sector and became the Central Banking Authority. Post Nationalization Period (1969 1991) State Bank of India was formed to act as a principal agent of RBI and handle banking transactions in India. Fourteen major commercial banks were nationalized as there was a decline in public confidence during the early phase. Nationalization guaranteed the sustainability of banking industry and aroused public confidence. Post-Liberalization Period (1991 now) Liberalization of banking practices occurred. Foreign banks, ATMs, phone banking, net banking were introduced to make the banking system more convenient and efficient. The development of banking system is transiting. Public-Sector Banks contributes to 78% of total banking industry asset. Private-Sector Banks, on the other hand, are experiencing great progress in internet banking, ATMs and other technology advancements. They are likely to expand in India. Central Bank Reserve Bank of India It was established in 1935 and was nationalized in 1949. It has 8 functions explained as follows: Note Issuance: It has the sole right to issue bank notes of all denominations as an agent of the Government. Government Banker: It acts as Government banker, agent and adviser. It controls the banking system through licensing, inspection and calling for information. It also supervises and controls commercial and cooperative banks. Maintenance of Minimum Reserve Ratio: RBI set the cash reserve ratio is 5% and repo rate is 4.75 % in 2009. Lender of Last Resort: It acts as the lender of last resort by providing rediscount facilities to scheduled banks. Credit Controller: It controls the credit operations of banks quantitatively and qualitatively like open market operations, discount policies and reserve requirements. Settlement of Clearing Functions: RBI facilitates the inter-bank clearing of current accounts in 1050 clearing houses in India. Custodian of Foreign Reserves: RBI sets a limit on money transfer in and out of India under Foreign Exchange Management Act. It examines Indias reserve of international currencies and maintains the official rate of exchange with all member countries of International Monetary Fund. Promotional Functions: RBI is responsible to extend banking facilities to rural and semi-urban areas, and establish and promote new specialized financing agencies. Banking System Banks in India The Reserve Bank of India heads the Indian commercial banks. Banks in India can be categorized into three tiers scheduled commercial banks; regional rural banks which operate in rural areas not covered by scheduled banks; and cooperative and special purpose rural banks. There are approximately 98 scheduled commercial banks, both Indian and foreign, almost 200 regional rural banks, more than 350 central cooperative banks, 20 land development banks, and a number of agricultural credit societies. Commercial Banks Commercial banking is dominated by 28 state-owned banks controlling 69.9% of assets in the sector in 2007/08. Private domestic held 21.7% and foreign banks had the remaining 8.4%. Commercial banks can be categorized into domestic banks and foreign banks. Domestic Banks They include public-sector banks, private-sector banks and savings, mortgage and co-operative banks. The biggest domestic bank is a public-sector bank, State Bank of India with market share 16.83%. The second biggest domestic bank is a private-sector bank, ICICI Bank with market share 9.11%. Public-Sector Banks They have a country wide networks and each has its own geographic stronghold. They provide a full range of banking services and are an important source of short-term funds. State Bank of India is the largest bank providing 16.83$ of loan advances in 2007/08. In 2008, SBI merged its subsidiary, State Bank of Saurashtra, and is increasing its international presence. The introduction of stringent capital-adequacy, income-recognition and asset-classification norms in economic reform promoted public-sector banks to reveal true positions in financial statements. The gap between strong and weak banks is thus widened. Private-Sector Banks There were 41 private-sector banks and 18 of them were listed on the stock exchange as of 2009. They usually have strong regional client bases and upgrade their technology and services. ICICI, the largest private-sector bank, merged with Bank of Madura in 2001 and Shangli Bank in 2007. Life Insurance Corporation of India raised its stake in Corporation Bank to 27% from 12.32% in 2001. It is expected that more mergers and acquisitions will be found in the coming decade. Savings, mortgages and co-operative banks They are small and contribute slightly to the source of funds for most companies. They tend to finance rural and small sectors and have geographically-restricted operations. New RBI regulations have imposed restrictions on them in 2001 as some urban cooperative banks were discovered to have a high exposure to the stock market. Foreign Banks The biggest foreign bank is Citibank with market share 1.55%. Standard Chartered Bank ranked the second. Citibank, Standard Chartered Bank, HSBC and ABN Amro Bank dominate the sector in the diagram shown below. Comparing the advances of foreign banks and that of commercial banks, it is shown that foreign banks play a small role in banking industry. They accounted for 8.4% of total commercial-bank assets in 2007/08. But the rising net profits of the banks to Rs66.12bn in 2007/08 from Rs45.85bn in 2006/07 suggested the increasing importance of this sector. Foreign banks offer borrowing terms similar to local banks, but their benchmark prime lending rates are 1 to 3 percentage points higher. Foreign banks usually form part of a lending consortium. Foreign banks without a branch presence can conduct business through representative offices. These banks concentrate on providing offshore currency loans and related foreign-exchange products, rather than retail banking or local-currency lending. Investment Banks and Brokerages Investment banks and brokerages rely on advisory business. They have a limited involvement in risk capital. They can weather the downturn without the risk of going out of business. However, if the downturn continues in 2010, some banks may leave the small Indian market. Citi(US) and JM Financial Group have the greatest market share in this sector with their contribution of more than half deal value. Given the growth of Indian market, major foreign investment banks have reworked their partnerships with investment banks to help them to capture a greater market share. Development Banks Public-sector development banks were traditionally the principle source of long-term capital. Development banks provide medium and long-term rupee and foreign-currency financing, underwrite and subscribe to stocks and debentures. Due to the financial sector reform, they offer new services and products, set up organizations to provide a variety of financial services. Some countrywide development banks are Industrial Finance Corp of India and Industrial Investment Bank of India. The Post Office Saving Bank It has the largest retail-bank network, with over 155,000 branches. A growing number of post offices are also connected electronically. Given its large distribution network, India Post now leverages its presence to become a general financial-services distributor. It provides various mutual funds and bonds. It also offers an inward international money-transfer service. Offshore Banks Banks are allowed to set up overseas banking units within the countrys special economic zones functioning as overseas branches of domestic banks. Six domestic banks set up overseas banking units: Bank of Baroda, Canara Bank, ICICI Bank, Punjab National Bank, State Bank of India and Union Bank. Domestic banks can enjoy a tax deduction on the income from OBUs and advantages of global presence. Banks Deposit Composition The deposits of national banks dominate the banking industry because they are backed up by the government and the public thus have confidence in nationalized banks. However, regional rural banks have a small share of deposits. It is mainly due to the lower income level in rural areas. Although foreign banks have a second smallest share of deposits, liberalization of the banking industry will allow them to expand their business. Competitive Situation More aggressive merger and acquisition are stemming in India. One advantages stemming from merger is the ability to cross-sell a slew of retail products including housing loans, car loans, personal finance and credit cards. Further, merged entity will be able to compete with threats from global players, for instance, HSBC and Citibank. However, challenges of merger are the integration of financial and human resources, as well as satisfying statutory requirements. Also some FIs faced the problem of relying on an increasing cagey market to raise capital. As FIs were funding long-term projects with money rose short term, there was a critical asset-liability disparity. RBI then proposed to convert financial institutions into universal banks recently. A reverse merger with their own subsidiary banks will now give FIs access to low-cost funds. The trend of mergers and acquisitions will prevail in the coming years. Economic Conditions Indian banks balance sheets are not directly exposed to sub-prime mortgage leading in US. The GDP and GDP per capital are expected to grow in the coming decade. The global financial crisis does not undermine the banking industry in India in a great extent. The assessment of the banking sector risk is rather low compared to that in Asia and Australasia in 2009. The expansion of consumer credit does not pose a high risk to the banking industry as the level of debts per customer remains low. In contrast, RBI moved the focus of its policy from boosting economic growth to containing inflation. Interest rates are expected to rise and tighter monetary policy are expected to be implemented. Conclusions The liberalization of banking system has (1) strengthen the banking sector (2) provide more operational flexibility to banks (3) enhance the competitive efficiency of banks (4) strengthen the legal framework governing bank operations. This well-developed banking system is favourable when it comes to expansion in India. However, a keen competition is found in India. Each sector has various existing banks with strong customer loyalty. Numerous state-owned banks and FIs are the dominant players in India. Despite the stable Indian economy and the steady and slow movement towards liberalization of banking system, the Government will probably strengthen the financial regulatory system sufficiently before a complete liberalization. Therefore, it is concluded that India is not suitable for expansion. References World Bank (2009). Word Bank in India. Retrieved November 25, 2009, from http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/SOUTHASIAEXT/0,,contentMDK:22398481~menuPK:2246552~pagePK:2865106~piPK:2865128~theSitePK:223547,00.html India Finance Investment Guide (2009). Introduction. Retrieved November 25, 2009, from http://finance.indiamart.com/investment_in_india/banking_india.html Maps of India (2008). Banks in India. Retrieved November 25, 2009, from http://business.mapsofindia.com/banks-in-india/ Kamath, G.B. (2009). Emerald. The Intellectual Capital Performance of Indian Banking Sector, pp.4. Retrieved from, http://www.emeraldinsight.com.eproxy1.lib.hku.hk/Insight/viewPDF.jsp?contentType=ArticleFilename=html/Output/Published/EmeraldFullTextArticle/Pdf/2500080104.pdf Bank of India (2009). Main Functions. Retrieved November 25, 2009, from http://www.rbi.org.in/scripts/AboutusDisplay.aspx#MF OneIndia News (2009, July 28). RBI Keeps All Key Rates Unchanged. Retrieved November 25, 2009, from http://news.oneindia.in/2009/07/28/rbi-keeps-all-key-rates-unchanged.html Hubbard, R.G. OBrien (2006). How the Fed Reserves Manages the Money Supply. In Macroeconomics (2nd Ed.), Money, Banks, and the Federal Reserve System (pp. 451-452). United States: Pearson International Edition. NK Infobase (2009). Reserve Bank of India. Retrieved November 30, 2009, from http://money-transfer.in/reservebankofindia.html Economist Intelligence Unit (2009, July). Country Finance, India. Domestic Banks, pp. 14. Retrieved from http://www.eiu.com.eproxy1.lib.hku.hk/report_dl.asp?issue_id=1784732363mode=pdf Economist Intelligence Unit (2009, July). Country Finance, India. Foreign Banks, pp. 14. Retrieved from http://www.eiu.com.eproxy1.lib.hku.hk/report_dl.asp?issue_id=1784732363mode=pdf Economist Intelligence Unit (2009, July). Country Finance, India. Investment Banks and Brokerages, pp. 16. Retrieved from http://www.eiu.com.eproxy1.lib.hku.hk/report_dl.asp?issue_id=1784732363mode=pdf Economist Intelligence Unit (2009, July). Country Finance, India. Development and Postal Banks, pp. 18. Retrieved from http://www.eiu.com.eproxy1.lib.hku.hk/report_dl.asp?issue_id=1784732363mode=pdf Economist Intelligence Unit (2009, July). Country Finance, India. Offshore Banks, pp. 20. Retrieved from http://www.eiu.com.eproxy1.lib.hku.hk/report_dl.asp?issue_id=1784732363mode=pdf Subhash, D.V. (2002, February). Birth of a Universal Bank. Retrieved 2 December, 2009. from http://search.ebscohost.com.eproxy1.lib.hku.hk/login.aspx?direct=truedb=bthAN=7210765site=ehost-live Economist Intelligence Unit (2009, October). India: Banking Sector Risk. Retrieved 28 November 2009, from http://www.eiu.com.eproxy1.lib.hku.hk/index.asp?layout=displayIssueArticleissue_id=1514868936article_id=1664868951 Scribd (2009). A Report on Non-Performing Assets Challenge to the Public Sector Banks, pp. 10. Retrieved December 2, 2009, from http://www.scribd.com/doc/8817767/A-REPORT-ON-NPA-IN-BANKING

Ray Kroc Essay -- Food Industry Fast Food Restaurants Essays

Ray Kroc They are everywhere! From downtown Chicago to a rural town in Nebraska, fast-food restaurants have become a trademark of how Americans live today. Hurrying to make time for an afternoon appointment, a woman decides to make a short stop for lunch. Pulling her sports utility vehicle up to the window, she quickly grabs a delicious meal for a small price. But where did the idea come from? In the small town of San Bernadino, California, during the fifties, a young man named Ray Kroc had an idea that would drastically revolutionize the food industry with the efficient use of a multimixer, new ideas, and incredible entrepreneurship, the McDonalds corporation began a remarkable empire in the American and worldwide fast-food industry. Ray Kroc began his working career the same as most others do by finding a solid job with a steady cash flow, and hope of promotion. Determined to find work for his future wife's hand in marriage, Ray quickly became a salesmen for a Lily cup industry. Unfortunately for Ray, it didn't start off in the way that he thought it would. Struggling to support his wife and newborn baby under low pay, Ray would also play piano part time to earn extra money. While working for the chance of a promotion, he worked hard in his job going from place to place selling papercup products. It was in these early business days that Ray first showed a sign of his talent in economic ideas. He had an idea to modify a paper cup in that it could be formed in a way which kept the cup more durable. The cup's name was rightfully called the "One in a Million," and the introduction of this new product took off like a barn fire and boosted sales dramatically in a stagnant industry. The intelligent business decisio ns made by Ray were incredible. He advised the head of the company to raise the price of the new cup by two cents. Instead of selling at ten cents, the cup sold at twelve which made the boss an extra one hundred thousand dollars. With this invention by Ray Kroc, new ideas were stimulated and more inventions were created. The invention of the multimixer, by Earl Prince, was a five spindled milkshake machine that Ray believed had tremendous potential. When Earl Prince found out about Ray Kroc's business and selling tactics, he instantly proposed that Ray leave the Lily Tulip company and go into business with him. Ray would sell the... ... the demands of a changing society. Ray commented on all his success by saying, "Everything seems to be coming up roses. I'll be able to tell you more Manana...Manana..."(Kroc 207). At age fifty-two, Ray Kroc took an idea of the McDonalds brothers, and opened his first franchise. Within a decade he became a millionaire and his journey is a classic success story. Sadly, after thirty years of working for his own company, Ray died of heart failure on January 14, 1984. During 1983, the system wide sales of over four thousand restaurants accumulated almost nine billion dollars in sales. And in December of that year Ray was saluted as one of fifty individuals who had made the greatest contribution to the American way of life in the twentieth century. The West Coast Reviews of books writes, "Few entrepreneurs can claim to have actually changed the way we live, but Ray Kroc is one of them. His revolutions in food service automation, franchising, shared national training, and advertis ing have earned him a place beside the men who founded not merely businesses but entire new industries." Ray Kroc's influential life not only provided work for millions, but changed the life of billions.

Claudius the Machiavelli Essay

There are many kinds of people in the world. Some people are kind, generous, caring, etc. But there are the kinds of people who are selfish deceiving and very cruel to those around them and only puts themselves before other people, these are characteristics of a Machiavellian character. In the story of Shakespeare, Hamlet, shows a great example of a Machiavellian character Claudius. Claudius is the type of man who is willing to go to the extremes in order to keep high position of power. He doesn’t care for the well being of others and only cares about himself. In Hamlet Claudius faces many threats to his position of power that has brought out his Machiavellian characteristics. Some of which are his willingness to kill and end the lives of other people, being very deceitful and trickery to those around him and manipulates and uses other people without thinking about the negative consequences it might have on the people he is using, all for his high position of power. One of the characteristics that make Claudius a Machiavellian character is his willingness to end other people’s life for his own gain whether it is directly or indirectly. In the beginning of the play the previous king hamlet is bit by a snake and dies, as the people were told. The truth is Claudius, the previous king Hamlet’s brother murdered him married his wife and gained the title of the new king. Claudius admits to his murder in the play in a form of a soliloquy, â€Å"Thanks, my dear lord/ O my offence is rank, smells to heaven./ It hath the primal eldest curse upon it,/ a brother’s murder. Pray can i not./†¦Can serve my turn? ‘ forgive me my foul murder’?/ That cannot be since I am still possessed/ Of those effects for which I did the murder/ May one be pardoned and retain the offence?/†¦ Be soft as sinews of the newborn babe!/ all may be well.† (Shakespeare III. III 38-75). In this scene Claudius admits to the audience through a soliloquy that he had murdered the previous king Hamlet and has gained a lot of things through the murder and he is not sorry for what he has done in order to gain his new title as the king. This shows the Machiavellian side of Claudius because he selfishly made the decision of killing someone just for his own selfish gain. There has been more than one time where Claudius shows his Machiavellian trait of trying to end someone’s life in order to keep his high position and power. In the play Claudius sees Hamlet as a threat to his life and safety. So Claudius arranges an execution for Hamlet in England. â€Å"†¦ And, England, if my love thou holdest aught-/ As my great power thereof may give thee sense/ Since yet thy cicatrice looks raw and red/ After the Danish sword, and thy free awe/ Pays homage to us- thou mayest not coldly set/ Our sovereign process, which imports at full,/ By letters congruing to that effect, / The present death of Hamlet. Do it England,/ For like hectic in my blood he rages/ And thou must cure me. Till i know ‘tis done,/ However my haps, my joys were never begun.† (Shakespeare IV. III 64-74). The previous quote is said by Claudius. Claudius shows his Machiavellian side through this quote, in this quote Claudius shows his true intentions of why he is sending Hamlet to England which is to get him executed. The reason why is because he feels threatened about Hamlet’s existence and is in the way of his plan in keeping his seat as the king of Denmark. Claudius has many more characteristics that label him as a Machiavelli. Besides killing people directly/ indirectly he also deceives and betrays those around him in order to cover up his true intentions. In the play, Hamlet, Hamlet accidentally kills Polonius who was hiding behind the curtain in the queen’s room, thinking it was Claudius. Hamlet finds out it wasn’t polonius and soon people in the palace found out what recently took place and Claudius feeling threatened plans on sending Hamlet to England. Claudius tells Hamlet â€Å"Hamlet, this deed, for thine especial safety,/ which we do tender, as we dear ly grieve/ for thou hast done – must send thee hence/ with fiery quickness. Therefore prepare thyself/ the bark is ready, and the wind at help , thy associates tend, and everything is bent for England.† (Shakespeare IV. III 43-49) in this scene of the play Claudius tells Hamlet he is sending Hamlet to England in order to reflect upon himself and his actions, but his true intention is being hidden which is Hamlet’s execution in England. This proves that Claudius is a Machiavelli because he is very deceitful to and disloyal to Hamlet by lying to Hamlet telling him that he is getting a sometime away from the kingdom in England for his own benefit but is actually being sent off to get executed just so Claudius can keep his position of power and his life. There is more than one time Claudius has shown his Machiavellian traits through trickery, betrayal and lies. One part in the play Claudius says to Laertes: â€Å"To thine own peace. If he be now returned,/ As checking at his voyage, and that he means/ No more to undertake it, I will work him/ To an exploit, now ripe in my device,/ Under the which he shall not choose but fall./ And for his death no wind no wind of blame shall breathe,/ But even his mother shall uncharge the practice/ And call it an accident.† ( Shakespeare IV VII 66-73). During this quote the story has progressed to which Claudius’ first plan to get hamlet killed has failed and Hamlet has come back from England. In these lines Claudius reveals that he is going to trick Hamlet to which will bring hamlet to his certain death to Laertes. Later on in the scene Claudius plans to trick Hamlet to drink a poisoned drink and to sabotage the fight between Laertes and Hamlet by poisoning the tip of Laertes’ blade. These actions that Claudius is making proves that he is a Machiavellian because Claudius is using tricks and deceit in order to get what he wants, which is Hamlet’s death. Other than using deceit, direct and indirect murder Claudius also shows his Machiavellian characteristics through manipulation and tricking other people to do things in order to cover up his true intentions and to keep him out of harms way and he doesn’t think of the negative consequences it might have on other people. Claudius shows a perfect example of this through the use of Laertes in order to kill Hamlet. â€Å"Not that I think you did not love your father/ But that I know love is begun by time,/ And that I see, in passages of proof,/ Time qualifies the spark and fire of it./ There lives within the very flame of love/ A kind of wick or snuff that will abate it./ And nothing is at a like goodness still./ For goodness, growing to a pleurisy,/ Dies in his own too-much. That we would do,/ We should do when we would, for this â€Å"would† changes/ And hath abatements and delays as many/ As there are tongues, are hands, are accidents./ And then this â€Å"should† is like a spendthrift sigh/ That hurts by easing.—But to the quick of th’ ulcer:/ Hamlet comes back. What would you undertake/ To show yourself in deed your father’s son/ More than in words?/ (Shakespeare IV VII 122-138). In this line Claudius tricks Laertes into falling into his hands allowing him to be manipulated. Claudius tricks Laertes to fight Hamlet with a poisoned sword not thinking about the negative consequences it might have. In the end of the play hamlet gets slain by the sword but Laertes ends up dying with his own sword as well. This is proof that Claudius is a Machiavelli because of using his cunning mind in order to trick people into doing his dirty deeds for him. Another point in the play where Claudius uses the art of manipulation for his benefit is when he uses Rosencrantz and Guildenstern to accompany Hamlet to England for hamlets execution. â€Å"Follow him at foot.tempt him with speed aboard,/ delay it not. Ill have him hence to night/ away for everything is sealed and done/ that else leans on the affair. Pray you make haste†¦/† (Shakespeare IV. III 60-63) In the previous quote Claudius is ordering Rosencrantz and Guildenstern to follow Hamlet to England not knowing the letter they were carrying for England’ king decided their fate. Claudius thinking that Hamlet might not read the letter for his execution, actually did read it but then rewrote the letter and changed it so that Guildenstern and Rosencrantz will be executed in his place. Throughout the whole play Claudius has constantly used Guildenstern and Rosencrantz as his spies for Hamlet. Hamlet realizing this lost all trust and faith towards Rosencrantz and Guildenstern leading them to their downfall. Knowing this Claudius still pursued in using Guildenstern and Rosencrantz for his own benefit without realizing the negative consequences it might have on them. Claudius is a Machiavellian who uses deceit and trickery, murder, and manipulation all for his own benefit. He shows these through the murder of his brother numerous attempts to kill hamlet by using other people and manipulating the people around him to keep his title as the King of Denmark. By doing things that will cause others pain and suffering for your own benefit may help you gain what you want in a short while but for the long run it will bring you to your downfall for no good deed goes unpunished.

Birkenau Essays - Auschwitz Concentration Camp, Bayer AG

Birkenau Essays - Auschwitz Concentration Camp, Bayer AG Birkenau Birkenau I did reasearch on Birkenau, a concentration camp used in the Holocaust also know as Auschwitz. I chose this particular topic because, I thought it would be interesting to learn about the concentration camps used in the Holocaust. The two sources i used for my presentation is an internet site and the encarta encloypedia. The Nazis established Auschwitz in April 1940 under the direction of Heinrich Himmler, chief of two Nazi organizations the Nazi guards known as the Schutzstaffel , and the secret police known as the Gestapo. The camp at Auschwitz originally housed political prisoners from occupied Poland and from concentration camps within Germany. Construction of nearby Birkenau (Brzenzinka), also known as Auschwitz II, began in October 1941 and included a women's section after August 1942. Birkenau had four gas chambers, designed to resemble showers, and four crematoria, used to incinerate bodies. Approximately 40 more satellite camps were established around Auschwitz. These were forced labor camps and were known collectively as Auschwitz III. The first one was built at Monowitz and held Poles who had been forcibly evacuated from their hometowns by the Nazis. Prisoners were transported from all over Nazi-occupied Europe by rail, arriving at Auschwitz in daily convoys. Arrivals at the complex were separated into three groups. One group went to the gas chambers within a few hours; these people were sent to the Birkenau camp, where more than 20,000 people could be gassed and cremated each day. At Birkenau, the Nazis used a cyanide gas called Zyklon-B, which was manufactured by a pest-control company. A second group of prisoners were used as slave labor at industrial factories for such companies as I. G. Farben and Krupp. At the Auschwitz complex 405,000 prisoners were recorded as laborers between 1940 and 1945. Of these about 340,000 perished through executions, beatings, starvation, and sickness. Some prisoners survived through the help of German industrialist Oskar Schindler, who saved about 1000 Polish Jews by diverting them from Auschwitz to work for him, first in his factory near Krakw and later at a factory in what is now the Czech Republic. A third group, mostly twins and dwarfs, underwent medical experiments at the hands of doctors such as Josef Mengele, who was also known as the Angel of Death. The camp was staffed partly by prisoners, some of whom were selected to be kapos (orderlies) and sonderkommandos (workers at the crematoria). Members of these groups were killed periodically. The kapos and sonderkommandos were supervised by members of the SS; altogether 6000 SS members worked at Auschwitz. By 1943 resistance organizations had developed in the camp. These organizations helped a few prisoners escape; these escapees took with them news of exterminations, such as the killing of hundreds of thousands of Jews transported from Hungary between May and July 1944. In October 1944 a group of sonderkommandos destroyed one of the gas chambers at Birkenau. They and their accomplices, a group of women from the Monowitz labor camp, were all put to death. When the Soviet army marched into Auschwitz to liberate the camp on January 27, 1945, they found about 7600 survivors abandoned there. More than 58,000 prisoners had already been evacuated by the Nazis and sent on a final death march to Germany. In 1946 Poland founded a museum at the site of the Auschwitz concentration camp in remembrance of its victims. By 1994, about 22 million visitors 700,000 annually had passed through the iron gates that bear the motto Arbeit macht frei (work makes one free). What i found most interesting about Birkenau was how many prisoners they had in these concentration camps.

10 mejores y 10 peores estados para hacer negocios

10 mejores y 10 peores estados para hacer negocios Para los  hispanos  que residimos en Estados Unidos es importante conocer cules son los mejores y los peores estados para hacer negocio por una razà ³n muy simple: somos el grupo con el porcentaje ms alto de emprendedores. Y es que 11 de cada 100 tienen un negocio, siendo la presencia latina especialmente notable en  empresas de limpieza, jardinerà ­a, reformas de viviendas, eventos y negocios que requieren licencias profesionales. Muchos de los negocios son pequeà ±os y en realidad son una forma de autoempleo, particularmente entre los migrantes mexicanos y entre los mexicano-americanos que son dueà ±os de aproximadamente 800 mil negocios de este tipo. Est claro que los negocios son importantes para la comunidad latina, tanto para la ya asentada como para la recià ©n llegada y eligen esa opcià ³n como los que no tienen otro remedio porque llegan con una  visa E-2  que debe ser renovada perià ³dicamente  o una  green card por inversià ³n. Por esta razà ³n conviene conocer en cules de los 50 estados de Estados Unidos existe una regulacià ³n y un clima econà ³mico y empresarial que favorece la creacià ³n y el crecimiento de los negocios. Por ello este artà ­culo comprende: Lista general de los 10 mejores estados para hacer negociosLista general sobre los 10 estados en los que es ms complicado y dificultoso sacar adelante un negocioY lista de los 5 estados que los empresarios latinos prefieren para desarrollar su idea de negocio, que no siempre coincide con el listado general. Son muchas las listas que se hacen anualmente sobre los mejores y peores estados para hacer negocio. Aquà ­ seguimos la de Forbes, por su amplitud y metodologà ­a, pero en general puede decirse que hay pocas variaciones entre los diferentes listados. Se han valorado factores como: potencial econà ³mico para el futuro, regulacià ³n sanitaria y de contratacià ³n, disponibilidad de trabajadores, calidad de vida, clima econà ³mico y costo para hacer negocios. Los 10 mejores estados para emprender Utah, destacando en potencial de crecimiento (poblacià ³n: 2,963,000)Carolina del Norte, que sobresale en regulacià ³n favorable para los negocios (poblacià ³n: 9,992,000)Nebraska, tambià ©n con un excelente clima regulatorio (poblacià ³n: 1,877,600)Dakota del Norte, con un buen clima econà ³mico, influenciado por los hidrocarburos (poblacià ³n: 744,600)Colorado, el estado nà ºmero 1 en normas laborales (poblacià ³n: 5,397,200)Texas, el estado con el mejor clima econà ³mico (poblacià ³n: 27,187,700)Virginia, el mejor estado desde el punto de vista regulatorio (poblacià ³n: 8,355,200)Indiana, el mejor despuà ©s de Virginia en regulacià ³n (poblacià ³n: 6,608,900)Dakota del Sur. el estado con menor costo para hacer negocios (poblacià ³n: 856,200)Washington, un estado con excelentes perspectivas de crecimiento (poblacià ³n: 7,108,400) Los 10 peores estados para hacer negocios En esta lista se empieza con el menos malo de los top 10 para acabar con el que califica como el peor, es decir, Virginia Occidental. Nueva Jersey, sà ³lo en un estado es ms caro hacer negocio (poblacià ³n: 8,947,700)Vermont, es caro hacer negocios y mucha regulacià ³n (poblacià ³n: 626,500)Hawaii, un estado para vivir pero no para hacer negocios (poblacià ³n: 1,424,900)Alaska, un estado muy caro (poblacià ³n: 738,000)Rhode Island, sà ³lo califica bien en calidad de vida (poblacià ³n: 1,056,900)Nuevo Mà ©xico, el estado con mayor porcentaje de hispanos (poblacià ³n:2,085,300)Maine, destaca por su lado positivo, la calidad de vida (poblacià ³n: 1,331,600)Mississippi (poblacià ³n: 2,995,700)Virginia Occidental, el estado que peor califica en oferta de trabajadores y regulacià ³n (poblacià ³n: 1,844,900). Los mejores y los peores para los emprendedores latinos Los empresarios hispanos en Estados Unidos destacan en la creacià ³n de pequeà ±as empresas e incluso en las que su objetivo es el autoempleo y tienen un à ºnico empleado: el propio emprendedor. Por ello, prefieren estados donde las regulaciones laborales, de salud y de seguridad le sean favorables para sacar adelante su pequeà ±o negocio. Por estas razones, en las encuestas estos son los cinco estados preferidos por los empresarios latinos para hacer negocio: TennesseeOregà ³nUtahPennsylvaniaTexas Curiosamente, tres de los estados con una amplia presencia latina como son California, Nueva York y Florida, no aparecen en ninguna lista entre los mejores para hacer negocios. A tener en cuenta antes de fundar un negocio Los ciudadanos americanos y los residentes permanentes legales podrà ­an tener acceso a subvenciones para negocios, tanto de carcter federal como estatal o incluso local. Es importante informarse sobre posibles ayudas para prà ©stamos, subvenciones, asistencia local y condiciones para calificar para contratar con el gobierno en la pgina oficial del Small Business Administration, que tiene una versià ³n en espaà ±ol. Adems, todos los empresarios en potencia debe tener en cuenta que es importante familiarizarse sobre las formas jurà ­dicas que se le puede dar al negocio para crear una empresa. Puede haber diferencias importantes a la hora de pagar impuestos o de proteccià ³n ante la ley.   Asimismo, considerar familiarizarse con el sistema de franquicias si les gustarà ­a lanzarse al mundo del emprendimiento pero no se sienten seguros porque no conocen bien las regulaciones. Y, finalmente, antes de empezar a hacer gastos, conviene realizar si es posible un buen plan de negocios y contabilizar todos los gastos que puedan surgir, tales como abogado, contable, licencias, alquileres, seguros mà ©dicos, impuestos, derechos de los empleados, salarios mà ­nimos, etc.

Mormon Church Essay Example | Topics and Well Written Essays - 1250 words

Mormon Church - Essay Example In the 1800’s a man named Joseph Smith was told to dig up these records and to translate them. That is where the Book of Mormon comes from. The Mormon Church is becoming a powerful church all over the world. They actively try to get people to visit their church and to join. There are missionaries all over the world doing this right now. Mitt Romney is trying to get elected as the President of the United States. This has raised interest in the Mormon Church because Mitt Romney is a Mormon. Attending two services of the Mormon Church seemed like the best way to learn about this culture and to understand how Mormons think and view the world. Setting Both of my meetings were held on a Sunday morning. The meetings were actually arranged into a three-hour block of time. The first meeting is referred to as Sacrament Meeting, the second hour is devoted to Sunday School, and the third meeting for men is called Priesthood Meeting while women attend Relief Society. The Chapel was a large , spacious building that was clean and tidy. There was very little ornamentation in the chapel. Typical symbols of Christianity such as a crucifix or statues of Jesus were conspicuously absent from the sanctuary. The building had a very utilitarian feel to it. The sanctuary was no more ornate than the simple classrooms that lined the halls. There were nicely framed paintings on the walls. I was unfamiliar with most of the themes and There was a children’s area and a space referred to as the Cultural Hall that included a basketball court and a stage. The meetings began at 9:00 AM and ended at 12:00 PM. There was a 5-10 minute break that appeared to exist mainly for socializing between each class period. Everything about the setting suggested order and efficiency, from the way the building was constructed and designed, to the way the various meetings were conducted. Participants The people in the congregation were mainly Caucasians. There were a few individuals that appeared to be of Latino descent and only one African American. There were approximately 220 participants in the Sacrament Meeting portion of the worship service. The group that seemed to most dominate the demographics of the congregation was families with children. There were many families with at least three small children and several that appeared to have more than five. Families appeared to sit together for most of the Sacrament Meeting time. There were some elderly women, but only one elderly man was in the congregation. Ethnically and demographically, the congregation was very homogenous. Sacrament Meeting The first meeting of the block each week is Sacrament Meeting. This is the most sacred service for Mormons because they pass bread and water to remember that Jesus died for their sins by giving his body and his blood. The blood is represented by water. The body is represented by bread. The meeting begins with a greeting by a man with the title of Bishop. He is the local leader of the c ongregation. He started the meeting by announcing changes in the Ward staffing assignments. A Ward is a geographic references to the area assigned to a particular congregation. In the Mormon Church, you are encouraged to attend the Ward that your town or community has been assigned to. Church staffing is all voluntary. The Bishop, the teachers and other participants receive no money for their time and efforts so there is no paid clergy in the Mormon Church. The Bishop

Research into Recent Developments in Gold Prices Paper

Into Recent Developments in Gold Prices - Research Paper Example Relating the context of recession to the price changes of gold in the international market, it can be stated that the revitalization of demand for the commodity in the recovery period of 2010-2011 led to the sustained and rapid rise in gold price. With gradually stabilizing demand along with the Customer Price Index (CPI) in major economies including US and UK, the purchase rate of gold also increased which further augmented gold prices to maintain balances in its supply and demand ratios. With reference to the above presented chart, it can be apparently noted that gold price augmented rapidly during the month of August, 2011. For instance, the average gold price was recorded as USD 1572.81 per OZ for the month of July 2011 which increased to USD 1755.81 per OZ in the month of August 2011. It is in this context that gold suppliers intended to foster the reserves of the commodity encouraging production as well as recycling following the recovery of the financial market. Although, a 7% increase in the mine production was witnessed, the recycling activity made negative contribution of 3% in comparison to the previous year. On the similar context, the demand for gold was also rising steeply in the previous quarters of the year, i.e. 971.70 tons in Q1 and 919.80 tons in Q2. Therefore, in order to maintain the balance in the supply of gold having lesser growth rate than the demand, the price of the commodity increased rapidly during the month of August 2011.