Comment on the dramatic techniques of Alan Bennett in A Cream Cracker Under the Settee Essay Example

Comment on the dramatic techniques of Alan Bennett in A Cream Cracker Under the Settee Essay A Cream Cracker Under the Settee is a monologue, which is a play with a single character. The character is Doris, a seventy five year old widow, who lives on her own. She has home help that visits once a week. In this monologue form, information is gradually revealed by the one character Doris. We find out shes had an unhappy life; eventually we find out why. Doris looks back nostalgically on her childhood and early marriage, the times in her life when she was truly happy. Something changed her life. At first the reader is unaware and even misled by Bennett. Doris describes Wilfred as dad, and thus he misleads the viewer into thinking there was a baby. We later find there was a baby, but it was a stillbirth. Doris didnt like the midwifes attitude when she wrapped the baby in newspaper then put it in a shoebox. Doris felt she was treating it like dirt. She says, He wasnt dirty, little thing. This could have been the start of Doriss hygiene obsession. Also, Wilfred did not help her much. Her husband wanted to get a dog instead. Her marriage wasnt great, Wilfred was a dreamer and frustrated Doris. We will write a custom essay sample on Comment on the dramatic techniques of Alan Bennett in A Cream Cracker Under the Settee specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Comment on the dramatic techniques of Alan Bennett in A Cream Cracker Under the Settee specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Comment on the dramatic techniques of Alan Bennett in A Cream Cracker Under the Settee specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Wilfred started little projects like an allotment, but never did anything with them, and then he moved onto something else. Doris still misses him though. We know this because she talks to the wedding photo, which also shows she is lonely. We know Doris has had an unhappy past: she is also having an unhappy present. There is an immediate problem. Doris has been dusting and had an accident, she hurt her leg and its getting worse. Part of Doriss unhappiness is her loneliness, she has no family and no friends: we were always on our own. Me and Wilfred. We werent gregarious. This is exacerbated because Doris hasnt moved with the times; she doesnt like change and new social patterns. Doriss main cause of unhappiness is her home-helper Zulema. She patronises Doris and keeps threatening her with Stafford House. Doris feels she is a prisoner, referring to the Zulema regime. All the information I have considered is gradually revealed to the audience using a number of dramatic techniques. Doris uses non-standard English, like thems her leaves. She also has a local dialect and uses words like squatting instead of placing. This establishes her character: she is probably working class but when she uses words like surreptitious and gregarious Bennett suggests she is quite clever. Bennett emphasises things about Doris by using recurrent themes. Doris has a hygiene obsession. She talks about cleanliness a lot and is prejudiced against people in Stafford House because she thinks they are unclean. She talks about her husband Wilfred frequently and speaks to the photo of him. Another technique Bennett uses is reported speech: this brings in other characters so the monologue is more interesting. An example of this is Zulema we form our impression of the character from what Doris tells us she says: youre on trial here. Sometimes Doris has an imagined conversation where she plans what shell say to Zulema: dont Stafford House me. Doris does this because she would like to say it, but really she wouldnt dare. Bennett also uses direct address where she speaks to the audience. She says, Would you credit it? This is to get more involvement from the viewers. A cream cracker under the settee was written for television, so it uses a number of dramatic techniques to do with performance. These include, set, costume, lighting and music. The set gives the audience important information at the start of the monologue about the character and the plot. The set is old fashioned. The carpet is brown and beige and patterned, the room is dull with few ornaments, and this could mean she is poor. Right away you can tell something has happened: there is a buffet on its side and a cracked photo on the hearth, and Doris has a duster in her hand. The costume used is old fashioned which reflects Doris. She has a blue floral frock which she says shes had for years. She wears a pink knitted cardigan, horned rimmed glasses and tights. All these are very practical clothes. Another technique used in the performance is the lighting. In the morning Doris is sitting in front of the window and she is backlit. When she is against the sideboard she is away from the window so it is less bright. Doris later moves to the door where it is darker still. In the evening she is sat by the sofa and the room is orange due to the streetlights. There are two dramatic functions of the lighting. One of them is to indicate the passage of time. Doris does not tell the viewer what time it is. The second is as a metaphor: the last stage direction is light fades, and this could indicate Doriss death. The last two dramatic techniques of the performance are the use of music and the camera. At the start the music sounds sad and lonely this sets the mood straight away as it is depressing. The instruments are piano and brass, solo instruments that are alone, like Doris. There is a single camera which is linked to the music, zooming in to emphasise emotional moments. The camera does not move around Doris so any movement is effective.

Was Mao Zedong Correct to Argue Political Power Grows out of the Barrel of a Gun

Was Mao Zedong Correct to Argue Political Power Grows out of the Barrel of a Gun Introduction â€Å"Ideology is the most elusive concept in the whole of social science†, this quote captures the difficulty in defining an ideology (McLellan 1995). We can identify ideologies based on the words used to describe them. People subscribed to the capitalism ideology will use words that express freedom of commerce and market price determination among other aspects of the ideology (Sargent 2009).Advertising We will write a custom essay sample on Was Mao Zedong Correct to Argue â€Å"Political Power Grows out of the Barrel of a Gun†? specifically for you for only $16.05 $11/page Learn More According to Glebov, Mao Zedong referred to the forceful nature in which leaders have to impose their ideologies on populations when he said, â€Å"political power grows out of the barrel of a gun† (1979). Mao Zedong was the leader of the Chinese Communist Party that assumed power after an arms struggle. According to Mao, the only way to gain power is to prove you are stronger and defeat the opponent in war (Glebov 1979). Mao Zedong, the Little Red Book and Cultural Revolution Mao Zedong was born in 1893 to peasant parents in China and served in the revolutionary army of china in 1911 (Spartacus Educational n.d.). Mao was a poet and political leader besides being the founder of the Peoples republic of China based on his ideologies of flexible pragmatism and visions viewed as utopian. Mao wrote extensively speeches, essays and poems and published 40 poems (Liukkonen 2008). His sayings and attributions are captured in an anthology called the Little Red Book that became the main text of the Cultural Revolution. The Little Red Book is also referred to as the Chinese Bible or Mao Bible (Sachsenmaier n.d.). Mao Zedong launched the Cultural Revolution in 1996 while serving his last decade as the Chinese People’s Party leader. He wanted to shift the Chinese ideology development to take a more communist approach. His main aim was to make all social systems in China less elitist, an end he pursued through mobilization and staging of revolutions using urban youths (Fortunecity.com n.d.). He also set up a coalition of loyal leaders to work besides him. The cultural revolution demonstrated the forceful nature needed to change ideological systems in place; however, the cultural revolution brought bureaucratic timidity in the government, as policy makers knew a system change outplaces all previously done work and personnel. During the revolution, in fighting within the Chinese Peoples party led by Mao factions and his successor Lins factions caused the return of normalcy in the Chinese society to delay further (Fortunecity.com n.d.). The attempt by Lin to hijack the leadership of the ideological transformation of the Chinese society from Mao was thwarted after Lin died in 1971 he aborted his plot to assassinate Mao. Shortly after Lins death, his loyal military command was destroyed. The death of Lin as the front crusader of the Mao ideology left the Chinese people feeling used in the political power game.Advertising Looking for essay on political sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Mao was interested in preserving his ideology through a suitably groomed successor to fill the gap left by Lin. During the period after Lins death and before Maos death, political backing shifted back and forth from Jiang Qing and the Zhou-Deng group. The two factions had separate ideologies of xenophobia and a pragmatic foreign policy respectively (Fortunecity.com n.d.). During the 2-year period before Maos death in 1976, the radicals favoring Jiang Qing staged chaotic campaigns to criticize the ideologies and policies of Zhou and managed to convince Mao that such policies would eventually topple him out of power. In order to safeguard his political power and ideology embodied in the Cultural Revolution, Mao sanctioned a formal propa ganda using posters to discredit the Zhou-Deng group and later succeeded in purging the group in April 1976. The Mao ideologies were defeated after his death in September 1976 when a combination of military leaders, police and political leaders purged Maos leading followers (Fortunecity.com n.d.). How political ideologies work Political parties form political ideologies; however, they become autonomous after formulation. Once formed, other political groups are free to adopt the political ideologies. While political ideology reflects specific elements in a political party, it also forms a notable variable that adds to the growth and operations of a political system. Political ideologies allow power to be legit and make it an authority. This happens when a community adopts them. What constitute ideologies are myths and symbols. Therefore, ideologies are modifiable (Cohen 1969). Today, forceful assumption of power by political group is not common as it was in the 1960s. Most developed and developing countries of the world have adopted a democratic system of government that bases its politics on either democratic capitalism or democratic socialism. The rise of democratic government systems has meant that political groupings have to participate in an election process and win in order to assume power of ruling a country. This fact might imply to the reader that there is no longer a need for a forceful takeover of political power as was in the case during Mao Zedong’s political party takeover as the new government of China. Although literally the fact is true, there are hidden aspects of forceful realization of political power. It would be an understatement to say that current use of the gun to get political power is not as fierce as it was when Mao Zedong wrote the little red book (Gearon 2006).Advertising We will write a custom essay sample on Was Mao Zedong Correct to Argue â€Å"Political Power Grows out of the Barrel of a Gun†? specifically for you for only $16.05 $11/page Learn More It is a mistake to equate democratic elections with a change of ideology. Democratic elections allow participation by parties that subscribe to the democratic ideology; therefore, the elections only serve as rotational changes on the people in power. Different political parties hold different elements of the same democratic ideology. Therefore conflicts or oppositions arise that result to varied opinions and support during elections (Cohen 1969). The formation of a political system that governs everything in a nation is what Mao Zedong referred to as power. A political system does not change after an election as noted in the previous paragraph. In addition, there are no defined ways of changing a political system. Such a system exists because of political ideologies and followers of a specific ideology feel that there exists no other ideology true as theirs. One cannot therefore expect to approach an established system a nd change it without facing resistance. Since political systems allow individuals to rule over others, and that those holding the political ideology in place will not take lightly any thought of replacing their political system. The adversity that arises out of the firmness of the existing political system, to maintain status quo, warrants only one last option of a political system change, violent force (Glebov 1979). Ideologies are mere belief and powerless unless they are mass accepted. They become respectable and worthy of considering when already there are a number of people subscribed to the ideology. Without political power, ideologies appear to be utopian thoughts. Proponents of political ideologies without political power describe their ideologies in terms of an ideal time when the ideologies will come into place and govern everyone’s way of living. Before the communist party seized power in China, it embodied ideal communist ideologies. Its leader, Mao Zedong, appear ed as an idealist. This was simply because the party envisioned a time when everyone was equal and all resources shared equally for the good of all citizens. Such an ideal environment based on the communist principles has never materialized (Sargent 2009). In the current world, democratic ideologies are shaping up most political systems. The idea of a rule by the majority has won favor across the world. Previously, purely communist systems are allowing democratic ideas to infiltrate their base ideologies. As a result, former communist systems are now showing characteristics of a social democratic system. The rule of the majority whether actualized or implied might have won over other ideologies because of the might held in the majority. It is plainly evident in any society that when the majorities are in favor, the minority out of favor have little they can do other than join the majority (Sargent 2009).Advertising Looking for essay on political sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More How Political Ideologies Retain their Power The democratic ideology operates as a dictatorship of a few over the majority. Even though democratic system claims to be a rule of the majority, closer look at the system reveals that once elected into power, political parties and politicians run the country in the best way that will ensure they win the next election. The policies and strategies they adopt when running the country ideally should assist to boost the economy in such a way that living standards improve. Citizens are in favor with the party when the economy is doing well. However, other than the economy, other social welfare factors dictate the favorability of a political party among the citizens of a country. These include other non-political ideologies such as religious ideologies and economic ideologies. In order for a political party to stay in favor with the majority of the citizens, it has to ensure that none of the unfavorable ideologies grows among its citizenry (Mill er 1981). To achieve the ideal setting where there is no ideological opposition, political parties campaign for and come up with laws that ban or restrict the ideologies identified as enemies of maintaining the status quo in the political system. Other than outright bans, and in an effort to remain democratic, such restrictions pass through the provided systems of changing laws. In most democratic systems, these are parliament, and the state. Judiciary forms a dispute resolution mechanism in the case where citizens feel aggrieved by the actions of the government. However, the extent to which the citizenry can disown laws through the judiciary is limited to confinement with the country’s constitution (Miller 1981). The countries constitution forms the principle pillar that holds the political system together. The constitution governs all that is lawful and unlawful in the country. Amendment of a constitution only happens when the majority is in favor in democratic systems. In other systems like communism, and monarchies the rulers have the power to change their countries constitutions. Since monarchies and communist political systems already infer power to their rulers to change constitutions as it suits them, it has never occurred that a ruler has changed the overall political system from one ideology to another. In most cases, rulers only include changes that strengthen their rule as well as expand their territories. On the democratic constitution change issue, prohibition of differing ideologies ensures that amending the constitution to come up with laws biased against the existing political ideology is impossible (Miller 1981). In all social institutions, the ruling class enjoys better living standards than the non-ruling class. Such a disparity arises out of the human need to satisfy their basic wants before they consider that of others. The satisfaction of needs and wants of the ruling class blinds them to the plight of the poor non-ruling class. T his happens because the ruling class does not face the daily challenges that the non-ruling class go through. In most cases, the rulers separate their residents from the rest. As societies advance, more social class stratification emerges. New social tensions appear out of class differences. The poor view that the rich are wealthy because of exploiting them, while the rich feel that their political power rests on their ability to be rich and therefore see the poor as a threat. When the poor are not the majority in such a system, a status quo may exist for a defined period until the poor become the majority (Gearon 2006). When the poor are the majority, they possess enough mass will power to inverse the social class setting of resource allocation. In such societies, where the poor majority want the power to have a say in wealth creation while the rich minority do not want to let go their political power that comes with the wealth, tensions erupt in to violent struggles. The emergence of a leader among the revolvers is a mere consequence of populations to being organized under one leadership and does not infer that the leader is the originator of the new ideology fought for by the population. For example, Mao Zedong led the 1949 war of china that led to the China Communist Party claim to power; however, he was not the originator of the communist ideology. Mao followed the ideas expressed by Lenin who fought a similar war leading the poor majority to capture power in Russia (Glebov 1979). As previously noted the barrel of the gun in current world political setting is money. Ruling political parties are able to maintain the political system by having a tight control of what their citizenry access to in terms of ideology. While the majority touts democracy as freedom for all, in actual practice it is a mass obedience of a political ideology that makes any differing belief questionable and in some cases punishable. Democratic systems allow indirect forcing of belief s upon their electorate. Such forceful ways used by the ruling class ensure that there is little or no opposition to their regime (Miller 1981). Conclusions To sum up, political ideologies form the basis of forming political systems. Political systems offer the rulers power over their citizenry. A considerable large population has to subscribe to an ideology for it to have a meaningful influence. The nature of belief is that its believers view each as the truth; therefore, the only way to replace political ideologies is to overthrow the regimes holding on to that ideology. Such an accomplishment is only possible through use of violent force. Mao Zedong was right arguing, â€Å"Power grows out of the barrel of a gun† (Glebov 1979). Reference List Cohen, A 1969, Custom politics in urban Africa: a study of Hausa migrants in Yoruba towns, University of California press, Berkeley, LA. Gearon, L 2006, Freedom of expression and human rights: historical, literal and political contex ts, Sussex Academic Press, Portland, OR. Glebov, V 1979, Maoism, words and deeds, Sterling, New Delhi. Fortunecity.com, n.d., The Cultural Revolution. Web. Liukkonen, P 2008, Mao Zedong (1893-1976). Web. McLellan, D 1995, Ideology, 2nd edn, University of Minnesota Press, Minneapolis. MN. Miller, A S 1981, Democratic dictatorship: the emergent constitution control, Greenwood Press, Santa Clara, CA. Sachsenmaier, D n.d., The Little Red Book. Web. Sargent, L T 2009, Contemporary political ideologies; a comparative analysis, Wadsworth, Belmont, CA. Spartacus Educational, n.d. Mao Zedong. Web.

My experience in the English 105 class Essay Example | Topics and Well Written Essays - 500 words

My experience in the English 105 class - Essay Example Discovering what I like writing about has significantly influenced my attitude towards writing. I now engage in the skill as an enjoyable activity instead of viewing it as a task. A major part of writing that has contributed to my progress is research. Studying my environment and researching on previous works have been the main tools of my writing processes. A good example of my experience with my environment is the study of how the manufacturing community functions and how each individual is a participant in the manufacturing community. I discovered that all people have a role to play in the community growth. I recognize that, to become a better writer, I must be able to consult with establish authors as mentors and for inspiration. Consulting with my tutor and instructor is also a significant part of my progress. The process has led me to recognize the various areas where my writing skills are lacking and to make appropriate revision. Due to these consultation sessions, I have lear nt to ask the appropriate questions in writing, to critically analyze ideas while integrating them with the ideas of others as well as how to make logical and strong arguments of my own. The use of various references in my all my written composition depicts my use of existing ideas to develop my own arguments. These three main aspects of writing have evolved through my interactions with my tutor, thus making me more dependent on my own ideas than on already existing ideas. Furthermore, my writing has become more critical and analytical. I am no longer simply writing stories but integrating ideas to formulate a composition that contributes to a certain field of knowledge. My writing has also changed my use of language through the continuous revision of my previous works. My grammar and proper use of vocabulary has improved and my use of language varies depending on the intended reader.

Refrigerator, how does it work Research Paper Example | Topics and Well Written Essays - 750 words

Refrigerator, how does it work - Research Paper Example This paper keenly discusses how refrigerator works as well as its history and associated design processes. Before the invention of the modern refrigerator, individuals used ice or snow to cool their food. One of the most known pioneers of the modern refrigerator was William Cullen. In 1748, Cullen invented the first refrigeration at the Glasgow University. Similarly, Oliver Evans, a renowned American inventor also contributed in the development of the refrigeration by inventing the vapor-compression refrigeration that was mostly used in 1805. The aim of this machine was to remove heat from substances by the process of recycling vaporized refrigerant. Another contributor in the early development of refrigerator was Jacob Evans. Through the use of vapor-compression, Evans invented the first refrigerator after making various improvements on Oliver designs. As the demand for the refrigeration increased, various scientists and doctors introduced other aspects that were focused at improvin g the refrigeration process. In 1913, Fred Wolf, introduced the refrigerators that were used in homes. This was followed by the introduction of a refrigeration unit in 1914 by Nathaniel, a well known engineer who was based in Michigan. In 1927, a refrigerator by the name Monitor-Top was introduced. Based on its improved design and effectiveness in storing food, Monitor-Top attracted high demand especially in US market. The technical improvements that occurred in refrigeration after the World War II led to the development of more efficient refrigerators in 1960s and 1970s. As the technology improves, modern refrigerators that stores food for a longer time have been introduced in the market. Another definition of refrigeration is cooling an item to a particular temperature that is usually lower that the room temperature where the refrigerator is situated. Apart from making the stored items cooler, refrigerator helps in halting the process of decaying that may take process due to chemi cal process (Balmer, 2011). In the modern societies, refrigerators are used in various ways. One of the most significant uses of refrigerators is storage. As mentioned earlier, before the invention of refrigeration food was stored under water. Even though this was effective method of storage, the lifespan of the food was not for a long time. After the invention of the refrigerator, it was possible to lower the temperatures such that food could be stored for a longer time. Another use of refrigerator is to think ahead. For example, in the modern times cooks and manufacturers can prepare food and store for later consumption. In the early times, food storage was a notable problem. Family meals can now be prepared when the prices of raw materials are low thus reducing the costs of preparing the food. Refrigerators are also used in transportation. Before the introduction of refrigerators, it was difficult to transport perishable products from one location to another. It was after the int roduction of the refrigerators that food could be stored in a cool place during the transit. Improved quality is another merit that was experienced after the invention of refrigerators. It is imperative to note that before the introduction of the refrigerators, quality food was produced only during specific times of the year for example when the temperatures were low. In

Introduction to Underwriting

Introduction to Underwriting INTRODUCTION TO UNDERWRITING Underwriting is an agreement, entered into by a company with a financial agency, in order to ensure that the public will subscribe for the entire issue of shares or debentures made by the company. The financial agency is known as the underwriter and it agrees to buy that part of the company issues which are not subscribed to by the public in consideration of a specified underwriting commission. The underwriting agreement, among others, must provide for the period during which the agreement is in force, the amount of underwriting obligations, the period within which the underwriter has to subscribe to the issue after being intimated by the issuer, the amount of commission and details of arrangements, if any, made by the underwriter for fulfilling the underwriting obligations. The underwriting commission may not exceed 5 percent on shares and 2.5 percent in case of debentures. Underwriting has become very important in recent years with the growth of the corporate sector. It provides several BENEFITS to a company:- It relieves the company of the risk and uncertainty of marketing the securities. Underwriters have an intimate and specialized knowledge of the capital market. They offer valuable advice to the issuing company in the preparation of the prospectus, time of floatation and the price of securities, etc. They also provide publicity service to the companies which have entered into underwriting agreements with them. It helps in financing of new enterprises and in the expansion of the existing projects. It builds up investors confidence in the issue of securities. The issuing company is assured of the availability of funds. Important projects are not delayed for want of funds. It facilitates the geographical dispersal of securities because generally, the underwriters maintain contacts with investors throughout the country. TYPES OF UNDERWRITING Syndicate Underwriting: is one in which, two or more agencies or underwriters jointly underwrite an issue of securities. Such an arrangement is entered into when the total issue is beyond the resources of one underwriter or when he does not want to block up large amount of funds in one issue. Sub-Underwriting:- is one in which an underwriter gets a part of the issue further underwritten by another agency. This is done to diffuse the risk involved in underwriting. Firm Underwriting: is one in which the underwriters applyfor a block of securities. Under it, the underwriters agree to take up and pay for this block of securities as ordinary subscribers in addition to their commitment as underwriters. UNDERWRITERS To act as an underwriter, a certificate of registration must be obtained fromSecurities and Exchange Board of India (SEBI). The certificate is granted by SEBI under the Securities and Exchanges Board of India (Underwriters) Regulations, 1993. These regulations deal primarily with issues such as registration, capital adequacy, obligation and responsibilities of the underwriters. Under it, an underwriter is required to enter into a valid agreement with the issuer entity and the said agreement among other things should define the allocation of duties and responsibilities between him and the issuer entity. These regulations have been further amended by theSecurities and Exchange Board of India (Underwriters) (Amendment) Regulations, 2006. ROLE OF UNDERWRITERS The primary role of the underwriter is to purchase securities from the issuer and resell them to investors. Underwriters act as intermediaries between issuers and investors, providing for an efficient of capital. The underwriters take the risk that it will be able to resell the securities at a profit. Perhaps the most visible and familiar element of the initial public offering process is the underwriter. The underwriter is the organization that is actually responsible for pricing, selling, and organizing the issue, and it may or may not provide additional services. With direct public offerings, there is no need for an underwriter. Selection of a good underwriter is of the utmost importance, but its important to understand that many underwriters are equally selective of their clients. Because an underwriters reputation depends on successful issues, few firms will be willing to stake their reputation on questionable companies. When selecting an underwriter, its important to seek out an established company with a good reputation and quality research coverage in your field. The decision may also depend on the kind of agreement the underwriter is willing to make regarding the sale of shares. For profitable and established private companies, it shouldnt be difficult to locate an underwriter willing to make a firm commitment arrangement. Under such an agreement, the underwriter agrees to buy all issues shares, regardless of ability to sell them at a particular price. For riskier or less established companies, an underwriter may offer best efforts arrangement for the initial public offering. A best efforts contract requires the underwriter to buy only enough shares to fill investor demand. Under this arrangement, the underwriter accepts no responsibility for unsold shares. Aside from fees and sales arrangements, most underwriters are fairly similar in their roles. An underwriter will assist in the preparation and submission of all appropriate SEC filings, helping potential investors make informed decisions about your offering. All underwriters are required to exercise due diligence in verifying the information they submit, so a certain amount of investigation should be expected from any responsible underwriter. In addition to SEC registration filings, the underwriter will create a preliminary prospectus that will become a major part of the issues marketing campaign. This document is also referred to as the red herring, after a small red passage in the document that states that the company is not attempting to sell shares prior to SEC approval. Once SEC approval is obtained, the underwriter and the corporation will embark on a road show to gauge and attract interest from investors. While the road show does not involve getting binding commitments from investors, it helps the underwriter determine the best strategies for pricing and issuance. After the initial public offering, the underwriter continues to provide services for the newly public corporation. For months or even years after the offering, the underwriter may continue to make a market for the stock, ensuring liquidity for investors and making the shares more desirable. Twenty-five days after the issue, the underwriter is also permitted to make statements or projections regarding the company and its prospects. ANALYSIS OF RESEARCH ARTICLES ARTICLE 1 ROLE OF UNDERWRITER IN INITIAL PUBLIC OFFERING (IPO) When a company wants to raise funds throughinitial public offering (IPO)it appoints aninvestment bank for underwritingthe issue. AnInvestment bankis also called asmerchant bank. There is no regulatory restriction to use the services of amerchant bankfor IPO. Since in an IPO a company participates for the first time, it doesnt have complete understanding of the rules and documentation, required to be submitted, to get a clearance from the regulator. Famous merchant bankers world over are Goldman Sachs, Credit Suisse and Morgan Stanley. Banks like Deutsche, Citi, UBS etc have investment banking wings. Underwriters assess and analyze firms current performance, firms future earnings potential, industry scenario, competition in the same sector, current local and global market situations etc. to decidethe issueprice/price band. They also work on the activities like completion of the mandatory documentation as required by the regulatory body. Underwriters charge a fee for this activity, which is generally a percentage ofthe issuesize. If the issue size is very large a syndicate of merchant banks takes up the task of underwritingthe issue. However onemerchant bankleads the other. MERCHANT BANKERS The merchant bankers are those financial intermediaries involved with the activity of transferring capital funds to those borrowers who interested in borrowing. They guarantee the success of issues by underwriting them. Merchant banks are popularly known as issuing and accepting houses. Unlike in the past, their activities are now primarily non-fund based (fee based). They offer a package of financial services. The basic function of merchant banks is marketing corporate and other services that are guaranteeing sales and distribution of securities and also other activities such as management of customer services, portfolio management of customer services, portfolio management, credit syndication, acceptance credit, counseling, insurance, etc. As per SEBI (Merchant bankers) Rules, 1992: Merchant bankers means any person who is engaged in the business of issue management either by making arrangements regarding selling, buying or subscribing to securities or acting as manager, consultant, advise or rendering corporate advisory service in relation to such issue management. MERCHANT BANKING Merchant banking activity was formally initiated into the Indian capital markets when grind lays bank received the license from reserve bank in 1967.grindlays started with management of capital issues ,recognized the needs of emerging class of entrepreneurs for diverse financial services ranging from production planning and system design to market research .even it provides management consulting services to meet the requirements of small and medium sector rather than large sector. Citibank setup its merchant banking division in1970.the various tasks performed by this divisions namely assisting new entrepreneur ,evaluating new projects ,raising funds through borrowing and issuing equity. Indians banks started banking services as a part multiple services they offer to their clients from 1972.state bank of India started the merchant banking division in 1972.in the initial years the SBIS objective was to render corporate advice and assistance to small and medium entrepreneurs. REGISTRATION OF MERCHANT BANKERS WITH SEBI It is mandatory for a merchant banker to register with the sebi. Without holding a certificate of registration granted by the securities and exchange board of India, no person can act as a merchant banker in India. Only a body corporate other then a non-banking financial company shall be eligible to get registration as merchant banker. The applicant should not carry on any business other than those connected with the securities market. All applicants for merchant bankers should have qualifications in finance, law or business management. The applicant should have infrastructure like office space, equipment, manpower etc. The applicant must have at least two employees with prior experience in merchant banking. MERCHANT BANKERS IN INDIA There are 135 merchant bankers who are registered with sebi now in India. There are public sector, private sector and foreign players registered with sebi. The below are the examples of few of the merchant bankers in each of the public, private and foreign players. PUBLIC SECTOR MERCHANT BANKERS SEBI CAPITAL MERKETS LTD. PUNJAB NATIONAL BANK. IFCI FINANCIAL SERVICES LTD. KARUR VYSYA BANK LTD. STATE BANK OF BIKANER AND JAIPUR. PRIVATE SECTORS MERCHANT BANKERS: ICICI SECURITIES LTD. AXIS BANK LTD(FORMERLY UTI BANK LTD.) BAJAJ CAPITAL MARKETS LTD TATA CAPITAL MARKETS LTD. ICICI BANK LTD. RELIANCE SECURITIES LIMITED. KOTA MAHINDRA CAPITAL COMPANY LTD. YES BANK LTD. FOREGN PLAYERS IN MERCHNT BANKING. GOLDMAN SACHS(INDIA)SECURITIES PVT.LTD. BARCLAYS SECURITIES(INDIA)PVT.LTD. BANK OF AMERICA.N.A. DEUTSCHE BANK. DEUTCHE EQUITIES INDIA PRIVATE LIMITED. SERVICES OF MERCHANT BANKS PROJECT COUNSELLING: Project counseling includes preparation of project reports,deciding upon the financing pattern to finance the cost of the project and appraising the project report with the financial institutions or banks.it also includes filling up of application forms with relevant information for obtaining funds from financial institutions and obtaining government approval. MANAGEMENT OF DEBT AND EQUITY OFFERINGS This forms the main function of the merchant banker.he assists the companies in raising funds from the market.the main areas of work in this regard include: instrument designing, pricing the issue, registration of the offer document, underwriting support and marketing of the issue, allotment and refund, listing on stock exchanges. ISSUE MANAGEMENT Management of issue involves marketing of corporate securities viz. equity shares, preference shares and debentures or bonds by offering them to public. Merchant banks act as per SEBI guidelines, the merchant banker arranges a meeting with company representatives and advertising agents to finalize arrangements relating to date of opening and closing of issue, registration of prospectus, launching publicity campaign and fixing date of board meeting to approve and sign prospectus and pass the necessary resolutions. Pricing of issues is done by the companies in consultant with the merchant bankers. MANAGERS, CONSULTANATS AND ADVISERS OF THE ISSUE: The managers of the issue assist in the drafting of prospectus, application forms and completion of formalities under the companies act, appointment of registrar for dealing with share applications and transfer and listing of shares of the company on the stock exchange. Companies can appoint one or more agencies as managers to the issue. UNDERWRITING OF PUBLIC ISSUE: Underwriting is a guarantee given by the underwriter that in the event of under subscription, the amount underwritten would be subscribed by him. Merchant banking subsidiaries cannot underwrite more than 15% of any issue. PORTFOLIO MANAGEMENT: Portfolio refers to investment in different kinds of securities such as shares, debentures or bonds issued by different companies and government securities. Portfolio management refers to maintaining proper combinations of securities in a manner that they give maximum return with minimum risk. RESTRUCTURING STRATEGIES: AA merger is a combination of two companies into a single company where one survives and other losses its corporate existence. A takeover is the purchase by one company acquiring controlling interest in the share capital of another existing company. Merchant bankers are the middlemen in setting negotiation between the companies. Merchant bankers assist the management of the client company to successfully restructure various activities, which include mergers and acquisitions, management buyouts, joint ventures among others. OFFSHORE FINANCE: The merchant bankers help their clients in the following areas involving foreign currency: Long term foreign currency loans Joint ventures abroad Financing exports and imports Foreign collaboration arrangements ROLE OF MERCHANT BANKER IN A PRIMARY MARKET ISSUE MANAGEMENT: Merchant banker is the intermediary appointed by companies in the primary market issue. It has to look at the entire issue management and work as the manager to the public issue. References: http://lastbull.com/iporole-of-underwriter/

Second Continental Congress Essay -- Essays Papers

Second Continental Congress â€Å"Give me liberty or give me death† were the famous words spoken by Patrick Henry in the struggle for independence (Burnett 62). He addressed the first continental congress in 1774 and started the process of American political revolt. This revolt eventually climaxed in the rebelling of Britain's American colonies and the establishment of what would become the United States of America. The Second Continental Congress accomplished independence through organization, rebellion, and finally declaring independence. This was the beginning of the American Revolution. Britain established a series of acts to control the colonies and this became the main cause of the revolution. These acts enabled Britain to increase the colony's taxes and pay for the costs of the seven years war. In addition, Britain angered the colonies by maintaining a large army in North America after peace was restored in 1773. The British also enforced a Stamp Act, which placed taxes on commercial and legal products. To further add to the frustration, the British controlled the shipping of goods and re-routed shipments to avoid going through London middlemen, who sold to independent merchants in the colonies. The final cause of the American Revolution was the addition of the Coercive Acts, which closed the port of Boston and cut back the local elections and town meetings. Thomas Paine summarized the colony's emotions towards the British and published a pamphlet, â€Å"Common Sense.† In this pamphlet he mocks Great Britain, a small island thousands of miles a way, that controls a large country that should have independence. In September 1774, the first Continental Congress met in Philadelphia where they agreed upo... ...of Independence listed the tyrannical acts committed by George III, proclaiming the natural rights of man, and sovereignty of the American States. The Second Continental Congress was the backbone to the Revolution as well as being the key to freedom. It proved that, â€Å"All men are created equal† and possess the freedom of rights. Works Cited - Buckler, McKay H. The History of Western Society. Boston: Houghton Mifflin Company, 1995. - Burnett, Edmond C. The Continental Congress. New York: The Macmillan Company, 1941. - Fiske, John. The American Revolution. New York: Houghton Mifflin Company, 1891. - Schlesinger, Arthur M. The Colonial Merchants and the American Revolution. New York: Frederick Ungar Publishing Company, 1957. - Trevelyan, George O. The American Revolution. New York: Longmans, Green and Company, 1928.

Silent Night

The night was silent. The half moon gazed down benevolently on the city, alone in a starless stretch of black sky. The streets were empty, and all that reached out into the shadowy darkness were the street lamps, placed so methodically and evenly it made them seem more significant than they really were. Near one of these lamps, on a bench, was an ancient man, his hair grey, his face was warped with deep wrinkles, a pair of round rimmed spectacles perched on his nose. His dull eyes, seeming to be staring into nothingness, peered sadly through the lenses.He slowly unlatched the case on his lap and reverently lifted the saxophone from its place, and is it opened, the weak yet mystifying golden glow emerged from it, only visible from the slight glimmer of the street lamps. The man pressed the mouth piece to his lips, and in a moment, music filled the night. The smooth, deep resonating tones of the saxophone echoed through the stillness. Its strong voice sang a melancholic requiem. The in strument was singing of times long past, of memories half forgotten, love once had, life at its peak and decline.The sounds resonated through the empty streets, reaching out in vain. The man stood as the song reached the climax, and as he did, the emotions that were resonating so beautifully seemed only to be amplified, this was pure expression from the soul; unprepared, and unrestrained. The man closed his eyes and arched backwards as the saxophone bellowed its elegy. Untainted emotions, pure and true, resounded from the notes, a defiant dirge amidst the sadness and grief of loss and solitude. Then the night was silent again.His performance was applauded by the silence and the dark, and it was deafening. The elderly man breathed heavily, perspiration dampening his dull grey hair. He fell back on the bench and before long, began absently polishing the saxophone. His audience, the darkness, seemed to evaporate into the night, and he was left more alone than before. He heaved a sigh a nd reached for the case. Suddenly, sound had blessed the night. The rich sound of a saxophone reverberated from the darkness. The man started and rose from the bench, the rich melody wafting towards him like an old friend.He twisted and swivelled, his eyes brightened as he searched for the player. By a street lamp, was a silhouette of a person with a saxophone, the musician sitting by the lamp, not close enough to be illuminated and not far enough to be hidden, but there was no reason for the mysterious figure to be identified. The man immediately recognised the musician’s skill, but there was a sense of incompletion in the tune, and although the tune itself sounded familiar, but he couldn’t recognise it. Read also  Summary : Love Is Never SilentIt was when the piece reached the first chorus that he finally did, and understood. He smiled warmly, his eyes glittered, and he raised his mouthpiece to his lips again. He accepted the invitation, and the music was complete. It was a song of fulfilment, contentment, of joy and harmony, the instruments’ eulogy of shared emotion and elation. The man revelled in the performance, and he knew silence would not meet him at the end of this one. The rich voices of the saxophones intertwined and coalesced. It was a glorious anthem that purged the night of silence.