Healthcare Delivery Systems

Chapter 1 – Health Care Delivery Systems There are many interesting and important points in this chapter. Some of them include: Pennsylvania Hospital founded by Ben Franklin was the 1st US hospital University of PA was the US first medical school The AMA was founded in Philadelphia in 1847. The Flexner Report was published in 1910 and impacted the status of medical school education. Hill-Burton Act of 1948 provided federal monies to update hospitals JCAH which is now JCAHO was created in 1951. JCAHO is an independent accreditation agency for health care facilities (all types).Medicare and Medicaid were enacted by Congress in 1965 Privacy Act of 1974 – protect the privacy of information systems in federal health care facilities HCFA (now called CMS) was created in 1977 TEFRA in 1982 established the first Medicare prospective payment system EMTALA of 1985 protected patients against â€Å"dumping† HIPAA was passed in 1996 with components on standardization, simplica tion, privacy, and security SCHIP was established in 1997 to provide health insurance to infants and children not covered under Medicaid Notice all of the abbreviations used in chapter 1!The use of abbreviations and acronyms is very prevalent in the health care and HIM field. Important Concepts in Chapter 1 Continuum of Care – primary care, secondary care, and tertiary care. Most of us are familiar with primary care, care sought by a patient with medical professionals for current problem or maintenance of a problem. Secondary care is seeing a specialist, dermatologist, neurologist, etc. for a problem, often referred by your primary care or family doctor. Tertiary care is often provided in specialty hospitals.This can include specialty radiograph (PET scan, MRI), burn treatment, cancer treatment centers, etc. Health care facility ownership, there are three kinds of facility ownership in general; government, for profit, and not-for-profit non government (Faith-based hospitals f or example). Hospitals are organized with a governing body at the top, sometimes referred to as a board of trustees. Within the hospital and most larger health care facilities (rehab, clinics) there will be an Health Information Management (HIM) or Medical Records Department.However, Medical Records is an older term. Typical functions of an HIM department include, coding, chart abstraction, record processing, record storage and retrieval, medical transcription, release of information (ROI), cancer registry, and index complying and retrieving. The size of the HIM department staff will vary and is usually based on the bed size of the facility and/or annual visits processed (discharged, ED, Outpatient surgery etc. ). One of the most visible components of a health care facility and an HIM department is the coding function.Coding is also seen in outpatient area for physician office and other types of non-hospital based healthcare. This is based partially on the fact the coding is tied to reimbursement and funding for the facility/provider. In the US there are two main coding systems used; ICD-9-CM and HCPCS. HCPCS contains CPT codes which are often thought of as a separate system but CPT is part of HCPCS. CPT codes are used to report physician services regardless of the place of service (hospital, office, ED, clinic, etc. ).ICD-9-CM classification contains diagnoses codes which are used by all providers for coding. ICD-9-CM volume 3 is only used to report inpatient or acute care hospital procedures. Note: CPT does not have any diagnoses codes in it. If a physician uses CPT to code/bill for procedures, ICD-9-CM must also be used. A complete picture must be captured with the procedure and the diagnosis(ies) of the patient for coding/billing to be correct! Licensure and accreditation – your textbook makes a distinction between these wo. Licensure is often governed by state and can be for an individual or a facility. Licensure is most often required for a health care provider or facility to operate in that specific state. Accreditation is for a facility and is most often voluntary. JCAHO is one accreditation body, others include; AAAHC, AOA, CARF, NCQA, NCCHC. New Developments: When the implementation of more digital technology in the area of health care and specifically in the HIM area.Electronic health records (EHR) are being discussed and used more and more in the US. With this type of record gathering and storage, methods of authentication have been updated for the digital age. These include electronic signature. Security measures have also been updated which include smart cards and biometrics. Your textbook also includes some excellent websites for concepts in this chapter. You may also want to refer to this list when you are looking for journal articles to complete lab assignment 2-5 which will be due next week.

Employment Selection and Training Development Essay

One would think that the employee selection process would be simple, but it is not. Two cases will demonstrate what is not, and what the correct way to approach a hiring situation is. There are specific ways to handle each situation that will minimize the risk to the company during the selection process. These alternative solutions will prevent the companies from ending up in court for discrimination in the hiring process. Speedy Delivery Service (SDC) The first case example chosen to demonstrate improper employment selection practices is Speedy Delivery Service. SDC would prefer not to hire women to perform deliveries for them. To discourage women from applying, SDC has decided to show extremely large, bulky, heavy packages to the women that are interested in the job. The prospective female applicants are lead to believe the job requires them to carry these object up multiple flights of steps without assistance, therefore discouraging them from applying for the job. Male applicants are not shown this same demonstration, therefore encouraging the male applicants (Moran, 2008. Ch. 2). The strategy that SDC is using in this case will increase the risks for the company to be charged with discriminatory hiring practices. This is a prime example of gender discrimination. Employers cannot overstate the physical requirements for a job. The misrepresentation of physical requirements goes against Title VII of the Civil Rights Act. It is fine for employers to test for prospective employees abilities to perform required activities, as long as the tests are the same for each individual. Whether the prospective employee is male, or female the test have to be identical. Once SDC has chosen potential new hires, they can have prospective employees demonstrate that they have the capability to meet the physical requirements to perform the deliveries. If a female prospect has the same potential as a male prospect, they should be given the opportunity to have the job. If the females are not chosen, SDC must be able to explain why the female was not chosen. Long and Short Long and Short is worried about hiring a prospective employee that has children. They are need of someone that can work a specific schedule and  are concerned that if they choose a parent, the hours will be limited. Long and Short chooses to ask the prospective employee if they have children. If Long and Short does not hire this individual, there is a possibility that they will assume it is because they have children. This opens the company up to a huge risk of discriminatory hiring practices (Moran, 2008. Ch. 2). When hiring for a specific shift, or if worried about whether a new hire can work the required schedule a company can clearly find out this information. Without making specific request referencing children, Long and Short could simply ask about restrictions on the days or hours that a prospective employee can work. If for example, the position is for an evening shift and the prospective employee states that they can only work dayshifts, then the company has every right not to hire this individual. As long as each prospective employee is asked the same exact questions referencing availability for shifts, there is no discrimination. In asking a generic question to each prospective employee, the risk to the company is reduced. Conclusion Proper employment selection processes can decrease the risk of a company being sued for discriminatory hiring practices. The primary practice is to ensure that all prospective employees are tested the exact same, and asked the exact same questions. You cannot make testing processes lean towards or against a specific race or gender. The hiring process requires each individual to have the same opportunity to obtain employment. If it is shown that the testing practices exceeds the need for the job, then this is a discriminatory practice and the company will be in a higher risk. Therefore, it is the job of the hiring team to ensure that proper hiring practices are followed. References Moran, J. (2008). Employment Law (4th ed.). Retrieved from The University of Phoenix eBook Collection.

Is Google and Verizon's Net Neutrality Proposal Socially Responsible Research Paper

Is Google and Verizon's Net Neutrality Proposal Socially Responsible - Research Paper Example (Patel, 2010) In this announcement, Google and Verizon listed three reasons behind their position: â€Å"to preserve the open Internet and the vibrant and innovative markets it supports† â€Å"to protect consumers† â€Å"to promote continued investment in broadband access† (Verizon-Google, 2010) Barbara Van Schewick of Stanford Law School has published a public law paper titled â€Å"Network Neutrality: What a Non-Discrimination Rule Should Look Like† (2010) defining network neutrality as relating to â€Å"the debate over whether governments should establish rules limiting the extent to which network providers can interfere with the applications and content on their networks.† (Van Schewick, 2010) She states that the European Union, the UK, France, Germany and the US are currently evaluating the implementation of net neutrality laws that would either prohibit or permit the carriers to discriminate between web traffic based on source, application, an d other criteria undefined, as well as whether preferred treatment for some web content represents a problem for broadband policy. (Van Schewick, 2010) As there is a generally accepted position validating government interest and regulation of the issue on claims of the â€Å"public good,† net neutrality in this essay will refer primarily to legislative attempts that prohibit content discrimination by carriers and internet service providers. This essay will further analyze the Google-Verizon â€Å"joint policy proposal† by using the standards established by Barbara Van Schewick in â€Å"Network Neutrality: What a Non-Discrimination Rule Should Look Like† (2010) as a reference for an ideal â€Å"public good† legislation, critically analyzing her reasoning and assumptions in the process. In summarizing the position taken by Google and Verizon vs. arguments for the public good, the essay will also consider popular media commentary including tech blogs such as CNET, TechCrunch, Endgadget, and Popular Science as examples of the broader public consensus and IT community viewpoint on these proposals. Finally, the position paper produced by the Electric Frontier Foundation (EFF) will be referenced as an example of the civil libertarian view. In this manner the corporate proposal as advocated by Google and Verizon will be analyzed in the context of mainstream tech community views, the â€Å"public good† legal standard advocated by Stanford Law School, and also from the civil libertarian perspective in constitutional law. This is necessary because the corporate viewpoint claims to be acting on behalf of the â€Å"public good† but may in fact be protecting or furthering the interests of company profit over other issues that are important to a pluralistic society. Consumer Protections: â€Å"A broadband Internet access service provider would be prohibited from preventing users of its broadband Internet access service from— (1) sending and receiving lawful content of their choice; (2) running lawful applications and using lawful services of their choice; and (3) connecting their choice of legal devices that do not harm the network or service, facilitate theft of service, or harm other users of the service.† (Verizon-Google, 2010) The use of the term â€Å"lawful† repeatedly in this first section highlights one of the main issues under contention, which is that Google, Verizon, and

Marketing case analysis Essay Example | Topics and Well Written Essays - 500 words - 3

Marketing case analysis - Essay Example Brand contribution is the margin that the company gains from the sale of its products. That means that the costs have to be relatively lower so that the company can achieve its desired margin. Brand equity refers to the positioning of the company products. Positioning is a critical part of marketing because it directly affects the sales volume of a company. The first issue that the director of marketing should deal with should be brand equity. Brand equity will include the positioning of the company’s products. That involves the advertising part of marketing. The company should carry out a marketing campaign that is aimed at targeting the customers of the company. The company should come up with the target market in which it should direct its marketing towards. That will ensure that the company does not waste its funds on unnecessary marketing. The company can also carry out a research that will enable it to know the distribution of its customers. For example, the company can come up with a questionnaire that will ask the customers where they reside and the convenient place that they would prefer to purchase the product from. That will enable the company to locate its products in retail stores in which most of its customers population reside in. that will increase the sales volume of the company and that will make the product mo re profitable (Ali 8). After the brand positioning has been established, the next part will be brand sales. Brand sales will involve the company increasing the sales volume. That will be made possible if the product positioning is done perfectly. That implies that the product should be within the reach of the target customers. The company can therefore carry out a marketing campaign that will be around the area where the customers are heavily populated. That will ensure that there are first purchases and repeat purchases. The first purchase can be done by the company carrying out a promotion

Exemption(s) for Certain Conveyances of Family Farms or Family Essay

Exemption(s) for Certain Conveyances of Family Farms or Family Business - Essay Example For exception of land transfer tax for conveyance of farmed land from individual (i.e. Father, Part 'A') to Family farm corporation (i.e. Son, Part 'B' (Owner of a Farm Corporation)) regulation 697 specifies the following requirements: First the transfer of land should me made between family members in which part 'B' is the owner of a farm corporation. Second requirement is that after transfer of farmed land the farm corporation will use the land for farming purpose only. No other use of the land is permitted. The first & second requirements of regulation 697 are similar to both individual to individual & individual to Family Farm Corporation. The Third requirement of regulation 697 is different in transferring the farmed land from individual to family farm corporation. In this all share holders of family farm corporation should be related to individual (Part A) who is transferring the land. Family Farm Corporation should have 95 % farming assets. During determination of farming asse ts the value of interest in the land being conveyed shall be included as an asset of the corporation. According to this regulation 697- there are some exemptions in land transfer tax that belongs to the same family it means if an individual transfer business land to its family member

Pinterest Research Paper Example | Topics and Well Written Essays - 500 words

Pinterest - Research Paper Example Pinterest Community is an archive site that articulates different forms of communication given the fact that the community takes into account the aspect of technology at hand. These forms of communication include; Email has turned into a standard manifestation of business correspondence, particularly for short messages that oblige movement. This sort of engineering based correspondence permits you to deal with a ton of clients, and also accomplices and different stakeholders without long discussions. Advanced programming of Pinterest permits one to send the same email to all invested individuals with the goal that you can keep the message, name, and items in the front line of their brains. Messaging has turned into the most individual manifestation of business correspondence the extent that Pinterest Community and their movement is considered. While you may give your email location to numerous individuals, your particular content number is saved for a couple of close cohorts. Your correspondences by content have a tendency to be more critical than email. In the event that Pinterest business is moving excessively gradually, this has been considered a channel to analyze whether there is message exploitation. Interpersonal organization destinations, for example, Facebook and Myspace has been a vital apparatus to contact of different society through offering of thoughts the extent that Pinterest group is of concern. The group has changed in accordance with these types of correspondence style to a more casual methodology. Rather than deals pitches, spot messages on these locales that sound like you have a great arrangement for your companions. The statement "website" is another way to say "web log." Amateurs frequently compose these destinations, however getting a blogger to survey an item or administration might be a great approach to spread the saying about your little

A Study of How Donations to Non-Profit Organizations Contribute to the Thesis

A Study of How Donations to Non-Profit Organizations Contribute to the Financing of Terrorism - Thesis Example Such people have scant regard for human life and property and are prepared to go to any extent including using themselves in order to achieve their purpose. ‘Terrorism’, is often attributed to modern outfits that have adopted a covert approach to attacking governments and the general public in the quest for an idealistic cause, which has often resulted them in being banned and pursued after. Over the past 2 decades, the world has witnessed the rise of religious fundamentalism, which showcased its brutality with the 9/11 attacks on the World Trade Center in New York. Terrorist organizations have sprung up all over the world, especially in the Islamic world. Governments all over the world have been grappling with terrorist attacks and have undertaken several initiatives across several fronts in order to contain and eliminate the menace of terrorism. One of the identified problems found to aid terrorists in their sustenance has been the issue of terror financing. Several pr ominent methods including Non-profit organizations, narcotics and stock markets have been identified as sources that have been exploited by terrorists to secure money for their activities. Among the known forms of funding, the issue of funding terrorism though charities has caused quite a storm, which generates an interest in identifying the ways in which terrorists have managed to exploit non-profit organizations for their purpose. The current paper is an attempt at highlighting the issue and explores the concept of such funding through charities from several perspectives. The world is gripped against the threat of terror and the recent years have seen a vast increase in the rise of terrorist organizations over many parts of the world. While some are based on religious faith, others have been formed as a result of armed struggle, territorial conflicts or otherwise. We live in an ear fueled by the

Corporate startegy Essay Example | Topics and Well Written Essays - 2500 words

Corporate startegy - Essay Example Later, on 31 March 1974, the merger of all the four companies resulted in the formation of the British Airways. The company started its expansion by acquiring British Caledonian in the year 1987 and Dan-Air in the year 1992. It has formed an alliance with the American Airlines, Qantas, Cathay Pacific and Canadian Airlines. This alliance is the third largest alliance after Star Alliance and the Sky Team. The parent company of British Airways, International Airlines Group, is a listed company in the FTSE 100 Index and the London Stock Exchange. The dedication of the volunteers along with the collection of arts and the loyalty and the generosity of the employees and the former colleagues has helped the company to achieve a successful position in the United Kingdom. As already mentioned above, the British Airways is a merger of the four companies BOAC, BEA, Cambrian Airways and the North East Airlines. The current alliance of the company along with the American Airlines, Qantas, Cathay Pacific and Canadian Airlines has made it the third largest alliance. The company is presently operating in 150 different destinations, six of which are located in the domestic land. British Airways is one of the top premium airlines in the world. It provides vital arteries for investment and trade, at the same time meeting the demands of the customers for the holiday trips and family reunion as well as the business travel. World Cargo which is the subsidiary of the British Airways is the twelfth largest cargo airline in the whole world in respect of tonne fright kilometres which is travelled. BA CityFlyer which is a fully owned subsidiary of British Airways operates and carries its customers to twenty different destinations in Europe. Although it focuses mainly on the financial markets, but it has extended its operations and recently achieved a successful position in the leisure market also. There are various

Technical and Vocational Education Essay Example for Free

Technical and Vocational Education Essay Technical and Vocational Education through open learning trends, developments and issues from a local perspective Technical and Vocational subject areas in many countries seem to be locked to a particular frame work The framework that postulates that TVET is a subject area taught to persons who are academically challenged. It is the notion of many parents and by extension the society that TVET means a plain supplier of skilled labour to the workforce and is unable to be on the same plateau as those persons pursuing medicine or law. With growing concerns about TVET and the need to share the vision, that it is through TVET that most great inventions are arrived at. A new way of teaching and learning has been adopted and introduced in New Zealand ,it is called open learning. The changing world of work TVET policymakers believe that the infusion of open learning and TVET is indeed the way to move forward. Open learning is said to be embracing a new era in our world, one that is moving from the industrial to the knowledge age. Knowledge is said to be changing and there is an immense need for re-skilling and retooling of persons. According to the article avoidance of embracing this new type of learning could mean that one might be left on the way side of technology. Trends in distance vocational and technical education and training New Zealand has seen a shift in the work patterns in that there is a decrease in many of the traditional trade –related areas, while there is an increase in the service sectors and the social sciences. The vocational market is characterized by the need of various skilled persons that will require current competencies; therefore individuals are encouraged to keep abreast with current trends. One of the ways in which New Zealand tries to confront these issue is by introducing the open learning. It has been over emphasized in the article that the world of work is rapidly changing , hence there is the need to upgrade and be reskilled.. Increased participation Open learning in New Zealand has played a vital role in making TVET more accessible. It requires low cost structure for high volume courses. Even though the government of New Zealand has cut back on expenditure in TVET, there are companies who are injecting capital in the program to make it a possibility. Address the skills gap Like many counties New Zealand has generic skills gap, and this is evident at all levels of the work place. The generic gap includes literacy, numeracy, communication and interpersonal skills. It is believed that these generic skills are prerequisites to any sector of the workforce. Surveys were done showing that graduates are more often hired for their learning skills than their specific knowledge. Another key issue is that while many persons are employed in small companies there is little scope for training. There are other problems such as when an institution starts a programs which it deems as a necessity and the program fails due to low student enrollment for that specific course. An example of such a course was developed jointly with a Canadian provider. The course had to be discontinued after three years due to lack of student enrollment. Qualification In regards to qualifications it was stated that TVET(through open learning) is now offering a wide variety of courses, but this is with some amount of drawback as some of these new courses have very little â€Å"shelf life†. Staff patterns have to be changed in that facilitators have to be more flexible and be willing to move with the technological era, also the facilitator have to be more focused on the needs of the learner. The facilitator of TVET areas have to be credible even in their own work as open learning faces seamless challenges. The facilitators should have significant and ongoing staff development. Some of the issues outlined in the document included shortening of life knowledge, technology, Quality assurance, Co-operation and competition and the roles and impact of government policies. Conclusion Open learning is an avenue that is presenting both teacher and learner a new flexible way of sending and receiving information. Although the union between open learning and TVET has challenges it is embracing the use of technology to present traditional vocational areas in a way that is now accepted by the government and other shareholders. One support for the open learning is the postal system which is very efficient. Open learning also boast its ability to provide quality output which was once limited to studying on traditional campuses. One of the greatest set back to the system is the role of the government in the whole process. Students have been facing undue pressure since the government has been a lot of cutbacks. Open learning is proving that it is the way to enter into the technological sphere. It is flexible, it reinforces , it fosters independent learning, while providing immediate transfer of skills.

Homosexuality Essay Example for Free

Homosexuality Essay In today’s society homosexuality is frequently discussed and the morality of being gay or not is questioned. Based on what culture, ethics, knowledge a person has acquired in their lifetime and how their parent, teacher, preacher, or other type of mentor views the issue, people will form their own beliefs about homosexuality. Each culture has their own values regarding the appropriateness of certain types f sexuality. In Michael Levin’s â€Å"Why Homosexuality is Abnormal,† he justifies that â€Å"homosexuality is abnormal and hence undesirable- not because it is immoral or sinful, or because it weakens society or hampers evolutionary development, but for a purely mechanical reason† (290). Michael justified that homosexuality is abnormal and then goes to state that the unhappiness of homosexuals is highly due to the misuse of bodily parts; therefore, they are bound to be unhappy. Levin’s thesis claims that the abnormality of the homosexuality does not make them to live a desirable way of life which, I completely disagree with. In disagreement with Levin, the use of bodily parts in a homosexual relationship is not a misuse, but an alteration of functions and the terminology of abnormal does not lead to unhappiness. Levin claims to state that the misuse of bodily parts in a homosexual relationship will lead to an undesirable and unhappy life. I will begin my argument with why the use of bodily parts in homosexual relationship is not misuse, but an altered function, can lead to a desirable and happy life. For instance, if one day LeBron James gets into a serve accident and becomes a paraplegic. His basketball career is terminated because he is paralyzed from the waist down, which means he is not capable of using his legs ever again. His ability to walk, run, jog, jump, swim, and etc. are now vanished; therefore, causing him to never play in the National Basketball Association. As time went by, he realized the inability to use his lower body parts in a common function was not going to stop him from playing basketball. LeBron decided he was going to play wheelchair basketball and continue his drive to play basketball because that is what makes him content. Through his altered body usage, LeBron learned how to maneuver and causing him to win multiple rewards in basketball. After winning multiple rewards, it made LeBron recognize that if one has the desire to be happy and shoot for their goals, than anything is possible. In the end, LeBron was just as successful using his altered body parts and the ability to function just fine like a normal human being. In respect to LeBron’s scenario, a homosexual’s body parts should not be judged just because the bodily parts are altered and used not in the way that Levin expects. Levin argues that the misuse of body parts causes unfullfillment, which than lead to unhappiness. He uses the terminology of â€Å"evolution† as a measurement to justify the idea that heterosexuals are normal human beings and homosexuals as abnormal because they are incapable of reproducing offspring. Levin argues â€Å"human beings have penises and vaginas because our ancestors who put their penises into vaginas (or put their vaginas around penises) tended to reproduce, passing along to have penises and vaginas and to use them in this way† (302). This is what genitalia are for is what Levin said and any other uses such as homosexuals are abnormal. So, basically what Levin is trying to say is that homosexuals can never be happy because they misuse their bodily parts, which causes them to never fulfill their desires and than leads to unhappiness. In a sense, â€Å"we are â€Å"programmed† through evolution to enjoy using our organs in evolutionarily adaptive (i. e. normal) ways† (302). My theory is that homosexuals can be happy. How is Levin to judge and say that it does not fulfill their desires and makes them unhappy? Why would people do things to make themselves emotionally hurt or unhappy? If homosexuals partake in homosexual activities, it is because that is what makes them emotionally happy from the inside, not because to partake in activities just for the hell of it. If that is what fulfills their personal desires than there should be nothing abnormal or wrong about it. Just because Levin does not have those personal desires does not mean he can criticize on others about it. Levin talks a lot about evolution and how our heterosexual ancestors who had penises and vaginas passing it down for the next ancestors; well, if one think’s about it homosexuals have also evolved over time too. Just because back then in society people did not talk about it and in present-day they do, does not mean homosexuals have not been around. The fact is that it has been around just not ever mentioned. For example, talking about sex was never mentioned in the old times, but present-day people talk about it in public. Overtime, society has gained more knowledge, hence making people acknowledge more about homosexuality. Since, homosexuality has been here throughout history and continues to evolve then, Levin’s statement about evolution implies the same for homosexuals making them normal human beings. Levin’s second argument is about using the terminology â€Å"abnormal† when misusing sexual organs. He never gives a clear definition on what is abnormal, but only for the fact what I have mentioned above. For Levin, an activity is abnormal in the relevant sense whenever it involves using an organ for purposes for which it was not intended (302). Implying that being abnormal is when one does not use the penis to penetrate through the vagina to fertilize eggs and reproduce offsprings. If this is how society should be and if is this how these organs should be used, then why is it that heterosexuals partake in activities such as oral sex and anal sex? â€Å"Levin argues that penises are for inserting into vaginas, not for inserting into mouths or other orifices; vaginas are for receiving penises, not for rubbing up against other vaginas† (302). This statement is being hypocritical because these are the same actions heterosexuals partake in also, making them â€Å"abnormal† as well. He misuses the word â€Å"abnormal. † The clear definition of abnormal means is extraordinary, uncommon, rare, or different. If Levin is calling homosexuals uncommon and rare, then what makes philosophy professors common? Being a philosophy professor is uncommon in a sense that only a small minority of people do it, but it is not â€Å"abnormal† in Levin’s sense. And since majority of the heterosexual population do partake in different activities using their genitalia for other purposes, this would make them common versus uncommon. Levin last argument is about the policy issues. He is trying to say society should protect their children because if the legislation provided rights to the homosexuals, then children will have the odds to become a homosexual. In his argument Levin even states, â€Å"If homosexuality is unnatural, legislation which raises the odds that a given child will become homosexual raised the odds that he will be unhappy† (295). Legalizing homosexuality means coming to the conclusion that it is acceptable to get married to the same gender and the government would have no objections against this action. If this occurred many religious practices would raise questions and make comparison to the Bible. If Levin were saying that homosexuals would cause harm to children if allowed by the government, then what would one say when children watch pornography or movies that show kissing the same gender or opposite gender? Present-day children are already watching TV shows that harm their knowledge. What difference would it make if a child found a gay couple holding hands or kissing? Also, how much knowledge can a little child retain, they can only have minimal understanding of what is going on. In society there are other issues such as violence, murders, terrorist attacks that are more harmful to children than homosexuals being together. Levin does not stop to evaluate that continuing to degrade homosexuals and define them as abnormal based on their desires will continue to divide up the society causing tension to build up and unhappiness. After all America gives the freedom to believe in one’s own practices without any judgments. In disagreement to Levin’s argument that the abnormality of homosexuality misusing their bodily parts causing unhappiness should also take into account of policy issues in Levin’s statement. Being unique and different than the majority of the norm does not mean they are harmful to the community. In America people have the right to worship in whatever they believe in; therefore, fulfilling one’s need by misusing bodily parts does not prove they are abnormal or can lead to unhappiness. In conclusion, determining the quality of one’s life is based on the fulfilling individual’s desires and a homosexual is clearly not destined to be unhappy with the abstract use of body parts. He or she can still live a happy life in altering their functions because that is what makes morally content and fulfill their personal desires.

Types of Gene Mutations

Types of Gene Mutations Gene A gene is a special strand of DNA that contains information about everything in our body. The genes make proteins to construct things in our body. Humans have about 25,000 genes. Homeotic Genes Description: A homeotic gene is any collection of genes that manage the development of early embryonic stage of organisms, these genes produce proteins that tell cells to create different parts of the body Mutation: If a mutation occurs in the homeotic gene an organism will not develop properly and may have displaced body parts, for example, a fly may grow a leg on its head instead of an antenna Leptin Receptor Description: The leptin receptor protein is produced by the LEPR gene, it manages energy balance and body weight. The leptin receptor protein is found on the exterior of cells in many organs and tissues of the body. The leptin receptor is activated by a hormone called leptin that connects to the receptor. Usually, the bodys fat cells release leptin in accordance to their size. As fat cells enlarge, they produce more leptin. This increase in leptin indicates that fat stores are increasing. The binding of leptin to its receptor send a series of chemical signals to the hypothalamus and give a sense of fullness. Mutation: If a mutation in the leptin receptor occurs it may lead to excessive hunger, obesity, and reduced production of sexual development hormones Retinoblastoma Description: The RB1 gene provides instructions for creating a protein called pRB. This protein regulates cell growth and keeps cells from irregular division. Under certain conditions, pRB stops other proteins from DNA replication. Since DNA replication must happen before a cell can divide, regulation of this process helps prevent tumor growth. pRB also interacts with other proteins to control cell survival, cell self-destruction, and the process by which cells grow to carry out special tasks. Mutation: If a mutation occurs in the RB1 gene a person may develop bladder cancer, retinoblastoma (an eye cancer that develops in the retina), lung cancer, breast cancer, osteosarcoma (a type of bone cancer), and melanoma (a type of skin cancer). Insulin Description: The INS gene provides commands for the production of the hormone insulin, insulin regulates glucose levels in the blood. Insulin is produced by the pancreas. Glucose is the primary source of energy for most cells in the body. Insulin is produced in a precursor form called proinsulin, which contains a single sequence of amino acids. The proinsulin sequence is cut to make individual pieces called the A and B chains, which are connected together by connections called disulfide bonds to form insulin. Mutation: Mutations in the INS gene have been linked to permanent neonatal diabetes mellitus. Babies with this disorder have a low birth weight and develop increased blood sugar levels within the first 6 months of life. An INS gene mutation can also cause type 1 diabetes and other disorders that involve insulin production and blood sugar control. Red Hair Colour Description: The MC1R gene provides instructions for making a protein called the melanocortin 1 receptor. The receptor is found on the surface of melanocytes (specialized cells that create melanin). Melanin provides colour to skin, hair,eyes and the retina. Melanocytes produce two different types of melanin, eumelanin and pheomelanin. The amounts of these two pigments help decide the color of a persons hair and skin. The more eumelanin a person has the darker their hair and skin is. People with more eumelanin have increased protection from damage caused by UV radiation. People with more pheomelanin usually have red or blond hair, freckles, and lighter skin that is prone to skin damage caused by UV radiation. Mutation: If a mutation occurs in this gene people develop oculocutaneous albinism type 2.   People who have this mutation have light-colored hair and eyes, pale white skin, and vision conditions. A mutation in this gene can also increase the risk of developing skin cancer. Boy in the Bubble Disease Description: The Boy in the Bubble Disease also known as SCID, is Severe Combined Immunodeficiency. Children that develop this disorder do not have a working immune system. Children affected by SCID can also become sick from viruses present in some vaccines. These vaccines (such as Measles, Polio etc.) dont harm children with a healthy immune system. However, children with SCID may develop severe, life-threatening infections from the vaccines. There are various forms of SCID. The most common type is linked to the X-chromosome, making this disorder exclusive to males. Symptoms: Babies with this disorder generally have infections occurring within the first few months of life, these infections are dangerous and may even be life-threatening, they may include pneumonia, meningitis etc. Other symptoms include failure to gain weight or grow normally, continuous mouth or throat infections, and a family history of immunodeficiency or infant deaths due to infections. Diagnosis: Early diagnosis of this disorder is usually uncommon since the disease is extremely rare. The average age babies are diagnosed with SCID is about six months, generally because of reoccurring infections and improper development. If the mutation leading to SCID in a family is known, a test can happen through sequencing DNA from the fetus. Since SCID is so rare prenatal testing of a baby with no family history of the disorder is not usually done since the test is so expensive. Prognosis: Without treatment most babies die within the first year of life. Treatment Options: The most effective treatment for SCID is a bone marrow stem cell transplant. A bone marrow transplant from a tissue-matched sibling offers the greatest chance for curing SCID. However, most patients do not have a matched sibling donor, so transplants from a relative or unrelated matched donor are often carried out. These types of transplants have a less chance of succeeding compared to transplants from a matched, related donor. Transplants that are done in the first three months of life have the highest success rate. SRY Gene The SRY gene gives instructions for producing the sex-determining region Y protein. This protein is involved in male sexual development. The X and Y chromosomes determine whether a fetus will become a male or female. Females usually have two X chromosomes (XX), while males usually have one X chromosome and one Y chromosome (XY).   The SRY gene is located on the Y chromosome. The sex-determining region Y protein produced from this gene attaches to specific regions of DNA and begins processes that cause a fetus to develop male gonads and stop the development of female reproductive organs.

Global Education and Local Communities :: Teaching Learning Schooling Papers

Global Education and Local Communities Let me begin with a summary of what I am going to say. Cyberspace is a new kind of reality, in some crucial respects less real, but in some respects more real, than the space of face-to-face encounters and of physical documents. Signs in cyberspace might be quite unconnected to any real-life states of affairs, they might be quite abstract, but often they are much less abstract than, say, signs in a printed book. As I will endeavour to show, communication in the world of printed books is, characteristically, the communication of abstract meanings among members of an abstract society, such as a modern nation. The communication of knowledge in an interactive audiovisual medium is less dependent on an extended process of education in some national - i.e. literary - language than was the communication of abstract, typographical knowledge in earlier ages. Successful navigation in cyberspace does however presuppose some specific training leading to appropriate combinations of technical skil ls and literary skills, the latter normally encompassing both a rudimentary English and one's mother tongue. Working out how in fact such a combination of skills can be taught and acquired, and exploring the ways in which local communities can form a suitable learning environment, are the goals of an ongoing research program in Hungary; I conclude by sketching some essentials of this program. The Ontology of Cyberspace In some crucial respects cyberspace is, obviously, less real than the space of face-to-face connections. One should recall here GÃ ©rard Raulet's profound study "The New Utopia", written in the 1980s, pointing to the spurious idea of "supplanting places by spaces", and to the gap separating symbolic "interactivity" from actual social interaction.[1] And one should recall the essentially consistent findings of an impressive array of empirical investigations showing that telecommunications, however dense and multidimensional the networks, do not have the effectiveness, let alone the emotional impact, of face-to-face encounters. Until the late seventies, such investigations focused, understandably, on the effects of the telephone. What they found was that although telephone contacts did of course make a difference when no other contacts were available, [2] the former, as contrasted with face-to-face contacts, had no great propensity to create new linkages. Telephone contacts are effect ive if they can rely on background information from earlier personal meetings, and if they are regularly reinforced by such.[3] The same pattern still holds when e-mail and teleconferencing enter.

History of Money Essay -- GCSE Business Marketing Coursework

History of Money Let us consider a problem. You catch fish for your food supply, but you're tired of eating it every day. Instead you want to eat some bread. Fortunately, a baker lives next door. Trading the baker some fish for bread is an example of barter, the direct exchange of one good for another. However, barter is difficult when you try to obtain a good from a producer that doesn't want what you have. For example, how do you get shoes if the shoemaker doesn't like fish? The series of trades required to obtain shoes could be complicated and time consuming. Early societies faced these problems. The solution was money. Money is an item, or commodity, that is agreed to be accepted in trade. Over the years, people have used a wide variety of items for money, such as seashells, beads, tea, fish hooks, fur, cattle and even tobacco. There are numerous myths about the origins of money. The concept of money is often confused with coinage. Coins are a relatively modern form of money. Their first appearance was probably among the Lydians, in Asia Minor in the 7th century BC. And whether these coins were used as money in the modern sense has also been questioned. To determine the earliest use of money, we need to define what we mean by money. The early Persians deposited their grain in state or church grainaries. The receipts of deposit were then used as methods of payment in the economies. Thus, banks were invented before coins. Ancient Egypt had a similar system...

Pop squad

SIRS Issues Researcher. Web. 07 Novo. 2013. Hospitals are facing numerous amounts pressure to change. Better care has to outweigh more care and until that happens the nation will continue to face care costs issues. Medicare can be added with more choices and protection for beneficiaries. Also reform a tax treatment of health insurance to limit the tax treatment over expensive insurance products.Emanuel, Ezekiel J. â€Å"Health-Care Exchanges Will Need the Young Invincible. † Wall street Journal. 07 May 2013: A. 17. SIRS Issues Researcher. Be. 07 NOVO. 2013. With this health care exchange a lot of Americans will be able to log online and choose their own health care coverage. Also many insurance companies are scared and they are already raising premiums to protect them losses. There will be fewer people purchasing insurance. â€Å"Prescription for Change. † Economist. 29 June. 2013: 61 . SIRS Issues Researcher.Web. 07 Novo. 2013. People are not receiving the proper care that they really should be getting. Doctors are charged a fee every time they gain a patient. It is going to expand Medicaid, more people with Insurance will cause more patients seeking the treatments they need. Many employers have greatly recommended their workers to pay out of pocket to the cost of their health care. Razors, Peter R. â€Å"How Health Care Can Save or Sink America. † Foreign Affairs. July/Gag 2011: 42. SIRS Issues Researcher.Web. 15 Par. 2014. Rising health-care costs are at the core of the United States' long-term fiscal Imbalance. Social Security costs, by comparison, are projected to Increase from five percent of GAP to six percent over the same period. It Is no exaggeration to say that the United States' standing In the world depends on Its success In constraining this health-care cost explosion; unless It does, he country will eventually face a severe fiscal crisis or a crippling Inability to Invest In other areas. Foreign Affairs In this article, Peter R. Razors, former director of the Congressional Budget Office, argues that â€Å"there Is no credible path to reducing the long-term fiscal Imbalance In the United States other than directly addressing high- cost cases In health care. † pop squad By Ill-Bri-Johnson street journal. 07 May 2013: A. 17. SIRS Issues Researcher. Web. 07 NOVO. 2013. With patient. It is going to expand Medicaid, more people with insurance will cause more the core of the United States' long-term fiscal imbalance.Social Security costs, by comparison, are projected to increase from five percent of GAP to six percent over the same period. It is no exaggeration to say that the United States' standing in the world depends on its success in constraining this health-care cost explosion; unless it does, the country will eventually face a severe fiscal crisis or a crippling inability to invest in Congressional Budget Office, argues that â€Å"there is no credible path to reducing the long-term fiscal imbala nce in the United States other than directly addressing high- cost cases in health care. â€Å"

Short History of Mass Comm

A Short History of Mass Communication Theory Paradigm results is a theory that summarizes and is consistent with all known facts and this often leads to a paradigm shift a fundamental, even radical, rethinking of what we believe to be true (Kuhn, 1970). Mass communication theory is a particulary open to such a paradigm shifts due to 3 factors : 1. Advances in technology or the introduction of new media. 2. Calls for control or regulatiin of these new technologies require. 3.As a country commited to protecting democracy and cultural pluralism. These factors produced 4 major eras of mass communication theory A. The era of mass society theory B. The era of scientific perspective C. The era of limited effects of theory D. The era of cultural theory A. THE ERA OF MASS SOCIETY THEORY During the second half of 19th century and the first decades of 20th century mass circulation newspaper and magazines, movies, talkies, and radio all came to prominence at this time.The country’s peacef ul rural nature was beginning to slip further into history, Industrialization and urbanization is spread. The media needed to be controlled to protect traditional values and to prevent similar abuses at home. The resulting paradigm was mass society theory, the idea that the media are corrupting influences that undermine the social order and that â€Å"average† people are defenseless against their influence. The fundamental assumption of this paradigm is expressed in the hypodermic needle theory or magic bullet theory.Mass society theory is an example of grand theory, one designed to describe and explain all aspects of a given phenomenon. Media did have effects, often good ones. B. THE ERA OF THE SCIENTIFIC PERSPECTIVE Scientist determined that different factors led some people to be influenced and others not (Lowery & DeFleur, 1995) The researcher had benefit of advances in survey research, polling, and other social scientific methods developed and championed by Austrian immi grant Paul Lazarsfeld.

Hero Honda Demerger

Table of Contents 1. ABSTRACT3 2. INTRODUCTION4 3. MATERIALS ANS METHODS5 4. ANALYSIS5 5. Conclusion14 6. References15 1. ABSTRACT THE JOINT VENTURE A joint venture between Hero Group and Honda Motor Company was established in 1984 as the Hero Honda Motors Limited at  Dharuhera Haryana. Hero  is the brand name used by the Munjal brothers for their flagship company Hero Cycles Ltd. Honda is world’s largest selling two wheeler company based in Japan. Munjal family and  Honda  group both own 26% stake in the joint venture Hero Honda motor Corporation.However the Hero Honda group was set for a split at the end of 2010. After the split Munjal family will buy Honda Motor’s 26% stake for around $1 billion, or a little less than half the current value of the stake in the stock market. The Japanese auto major will exit the JV through a series of off market transactions by giving the Munjal family an additional 26% share. Honda, which also has an independent fully owned t wo wheeler subsidiary (Honda Motorcycle and Scooter India (HMSI) will exit Hero Honda at a discount and get over $1 billion for its stake.The discount will be between 30% and 50% to the current value of Honda's stake as per the price of the stock. The Munjal family plans to compensate Honda through high royalty payouts, which could double to nearly 6% of net sales. However, key financial institutions have objected to this move, saying that the deal could favour the Munjals but be detrimental to other shareholders. Honda will continue to provide technology to Hero Honda motorbikes until 2014 for existing as well as future models. And after 2014 both companies Honda Motorcycle and Scooter India and Hero Motor corporation will compete with each other.Hero group will have full access of the overseas market as well and Honda group can compete full fledged in Indian market In this project report we have analyzed strategic motives behind the deal, differences which led to the fall of joint venture, legal and regulatory implications of the deal (through various disclosure requirements and new licensing agreements). WHY THIS PROJECT IS WRITTEN AND WHAT IS DISCOVERED Hero group is world’s largest selling bicycle company and Honda motor cop. Is world’s largest two wheeler company. This was India’s most successful joint venture.Merger of these two companies one Indian and one foreign company has to go with lots of legal regulations and strategic business implications. Demerger of these companies has to deal with many legal regulations and this merger has been taken based on changing business strategies and markets. Key concerns that this project has dealt with are. * How much successful the joint venture was? * Reasons of success of the JV. * What are the main clauses in MOU signed by the two companies? * What lead them to demerger? * What is the mode of exit from demerger? * Will open offer be required to make by hero group? Mode of funding by hero g roup to acquire 26% share of Honda group. * Does the investment by Investors in hero group require prior Government or FIPB approval? * What are the discloser requirements under proposed share transfer? 2. INTRODUCTION PROBLEM STATEMENT Analysing legal, financial and strategic issues in demerger of two companies involving an Indian and a foreign company. The demerger involves many key issues to deal with before it will go on demerger. The legal issues has some key components like * Open offer under takeover code. * Prior government approval or FIPB approval. Disclosure requirement by Hero group under takeover code and under SEB guidelines. * Mode of acquisition of shares. * Tax implications on Honda group Japan. Mode of financing by hero group to take 26% shares of Honda group is also a point of concern the key area of emphasis on it are * Bridge Financing * Funding from private equity investors Business strategies of both companies involved also came as lead to demerger the key iss ues in it are * India is a liberalised economy now. * Honda is third largest two Wheeler Company in India. * Vendor issue to supply parts. * Export market.Latest and successful technical capabilities of Honda motors and the reliability of Hero Group with pan India presence made an effective combination. Honda motors technical expertise provided better fuel efficient motorcycles and was easily sold through Hero Group‘s deep distribution network. Absence of any major competitor in the initial years helped the Company make the best of the growing market demand for motorcycles. With the decrease in price difference in comparison with scooters, that were the more popular choice earlier, the Company was able to successfully stabilize in the Indian market.Fallout of the joint venture all begin with personal interest coming into picture more than the joint venture. On December 26th 2010 when in a joint press conference both companies made public, selling of HM Japan‘s holding of 26% in the Company to Hero Group. Company also disclosed a Memorandum of Understanding signed between the Company, HM Japan and Hero Group pursuant to which the parties would enter into a new license agreement. This proposal was rolled out keeping with the plan and taking the first step in the phased process of the HM Japan‘s exit from the Company.This decision meant curtains for the 26 year old Indo-Japanese partnership. 3. MATERIALS AND METHODS The research methodology applied in this project has been of secondary research because most of the data required for analysis is easily available on internet. Since the objective of the project is to explore the strategic motivations behind the deal, various legal implications arising from the deal and how the legal issues were handled, the annual reports of Hero Honda Motor corp. and websites of various regulators who had a bearing on the deal was of great help.We have analyzed the annual reports of Hero Honda Motor comp for years 2010-11 and 2011-12 to get the facts of the demerger and the company’s opinion about the demerger. Because the pre-demerger company Hero Honda Motors Ltd. was also a listed entity the information regarding various MOUs signed between Hero Honda Motors Ltd. and Honda Motors Co. for transfer of technology or other assets is available on BSE website. The websites of regulators like RBI and SEBI also provides for regulations regarding permissible route of acquisition, foreign parties providing finance for the deal and legal ; regulatory aspects of the deal.For further complete and updated information on the demerger deal we have read the articles regarding the deal form leading newspapers like The Economic Times, The Times of India and Business Standard. The equity research reports of ICRA have also proved instrumental in providing long term implications of the transactions between Hero Honda Motors Ltd. and Honda Motors Co. Japan. Moneycontrol. com has also been useful to get im portant information for investors as a result of the deal. The information thus obtained from these sources has been classified into commercial information and legal ; regulatory information.Where the commercial information tracks the past record of the company, strategic motivations of demerger, splitting and transfer of assets, post demerger structure of the company and post merger asset sharing or asset transfer agreements. 4. ANALYSIS We have analyzed this demerger deal right from pre formation of joint venture stage to post termination of the joint venture. This covers the structure of the company before and after demerger, strategic aspects of the deal, and Legal ; Regulatory considerations of the deal and transition challenges for both the companies as a result of demerger.DEMERGER Hero Honda Demerger| Company (India)| Hero Honda Motors Ltd. | Seller (Japan)| Honda Motor Company Ltd. | Buyer (India)| Hero group through Hero Investments Private Ltd. | Proposed Transaction| Buy out of 26% stake of Hero Honda Motors Limited by HPIL as currently held by Honda Motor company Ltd. | Brief introduction of the companies’ party to the deal Hero Honda Motors Ltd: Company is a joint venture between the Hero Group of India (through Hero Investments Private Limited and Bahadur Chand Investments Private Limited) and Honda Motor Company Limited of Japan.The Company was incorporated on January 19, 1984 and is headquartered in New Delhi. Company is the world‘s largest two-wheeler company in terms of sales volumes, a position that it has been holding for the last 9 consecutive years. Company has 3 manufacturing facilities, located at Gurgaon (Haryana), Dharuhera (Haryana) and Haridwar (Uttarakhand) with an aggregate capacity to produce 5. 4 million vehicles per annum. It has an extensive sales and service network spanning around 4,500 customer touch points and ability to increase reach in new geographies and growth markets has proven to be very beneficial for the company.Honda Motor Company Limited (â€Å"HM Japan†): Established in 1948, Honda has remained on the leading edge by creating new value and providing products of the highest quality at a reasonable price, for worldwide customer satisfaction. In addition, the Company has conducted its activities with a commitment to protecting the environment and enhancing safety in a mobile society. The Company has grown to become the world's largest motorcycle manufacturer and one of the leading automakers.With a global network of 466* subsidiaries and affiliates accounted for under the equity method, Honda develops, manufactures and markets a wide variety of products, ranging from small general-purpose engines and scooters to specialty sports cars, to earn the Company an outstanding reputation from customers worldwide. Hero Group (â€Å"Hero Group†): Hero Group is a vast conglomerate of companies owned by the Munjal family, either in the form of collaborations, joint ventures or fully-owned subsidiaries with a turnover of more than INR 100 billion annually (app. USD 2. 2 billion). These companies have a presence largely in automobiles, automobile components, finance, bicycles, real estate and steel business. It began with the establishment of Hero Cycles Limited, based in Ludhiana, Punjab. The business was started by the four Munjal brothers establishing a bicycle spare parts business in Amritsar in the year 1944. By 1975, Hero Cycles Limited became the largest bicycle manufacturer in India. Over the years, they started moving into other fields, most notably the motorcycle sector and the Hero Group now consists of more than 18 companies.The Hero Group besides being the world‘s largest manufacturers of bicycles, motorcycles and chains to this date, has in recent year also diversified into newer segments like Information Technology, IT Enabled Services and Financial Services Hero Investments Private Limited (â€Å"HIPL†): HIPL is a non-banking f inancial company registered with Reserve Bank of India (NBFC) and is part of the Munjal-family owned Hero Group. Recently in July 2010, pursuant to a family arrangement, all of Hero Cycles Limited shares in the Company were transferred to HIPL, which is held by partnership firm Brij Mohan Lall Om Prakash.Along with Bahadur Chand Investments Private Limited, HIPL is one of the promoters of the Company. Bahadur Chand Investments Private Limited (â€Å"BCIPL†): Bahadur Chand Investments Private Limited is part of the Hero Group and is also one of the promoters of the Company. It is an investment company primarily involved in the promotion and assistance of the Hero Group of companies and also actively involved in investments in the Group companies. This company too is held by the partnership firm Brij Mohan Lall Om Prakash Pre termination ScenarioThis part would primarily deal with the formative years of the Company, the key commercials of the joint venture and the reasons for s plit between Hero Group and HM Japan. Shareholding pattern pre termination: Formation of Joint Venture 1. Market dynamics before the joint venture between Hero Group & HM Japan: Subsequent to independence and until the 1980s, foreign companies were not permitted to enter the Indian market. These restrictions were relaxed to a certain extent in the mid 1980s when foreign companies were allowed to enter the market through minority joint ventures.This period saw the setting up of numerous joint ventures along with foreign companies, and the Company was one such example. This joint venture provided HM Japan an entry route to Indian market and was incorporated in 1984. 2. Hero Group’s position before the joint venture: Prior to the joint venture, Hero Cycles Limited had established itself as one of the major manufacturers of bicycles in India and manufactured close to 16,000 bicycles a day. In the process, they had nurtured an excellent network of dealers and distributors to serve India‘s expansive markets.This would go on to be one of the critical factors for the Company‘s success in India and was something that most other companies had not achieved to that by that time. 3. HM Japan looks for a partner to enter into India: HM Japan was already renowned for its technological expertise in the automobile and motorcycle manufacturing sector and was looking for a suitable partner in India. Their initial plans called for an entry into the two-wheeler market as well as the electric generator market and accordingly Kinetic Engineering Limited was their first choice for partnership in India.They entered into a joint venture in 1984 but this was terminated in 1998. Hero Group was their next choice for their motorcycle venture 4. Why did HM Japan select Hero Group for the joint venture? The Hero Group through their company Hero Cycles Limited had made a mark for themselves in the Indian market. Hero was a well-known and respected brand name and an associat ion with Hero would make the entry into Indian market a lot easier for HM Japan. Hero Cycle Limited‘s engineering capabilities, their know-how, experience in handling large volume production and their extensive distribution networks were also attractive factors in their favour.Their tight focus on financials and raw material processes also made them a suitable partner for HM Japan 5. How was the joint venture formed? Hero Group first signed the technical agreement with HM Japan in June 1984. This agreement was renewed in 1994 and again in 2004. The joint venture was in the nature of HM Japan providing technical know-how, setting up manufacturing facilities and future research and developments assistance. In consideration for this technological support, HM Japan would receive a lump sum fee of USD 500,000 and 4% royalty on spare parts.At the beginning, both partners held a 26% stake in the equity of the Company. Another 26% was sold to the public and the rest was held with fina ncial institutions. An important restriction under the agreement prevented Hero Group from collaboration with any other foreign player or allowing the Company to export its products. Hence, right from the beginning, the target for the Company was only limited to the Indian market 6. Most successful joint venture of India: Over the year, Company has grown consistently, earning the title of the world‘s largest motorcycle manufacturer after having manufactured 1. million vehicles in 2001. They have retained this distinction till date and have an annual sales volume of over 2 million motorcycles, also owning Hero Honda ‘Splendor‘ which is the world‘s biggest motorcycle brand. They have successfully penetrated markets across the nation with over 5,000 outlets. In the last financial year 2009-2010, the company had total unit sales of 4,600,130 two-wheelers, a total net operating income of INR 158. 605 billion (app. USD 3. 52 billion) and a growth of 28. 1% 7. Reaso ns for the success of this venture:Sound and proven technical capabilities of HM Japan and the reliability of Hero Group made an effective combination. HM Japan‘s technical expertise provided better fuel efficient motorcycles and was easily sold through Hero Group‘s deep distribution network. The fact that there were no major competitors in the initial years helped the Company make the best of the growing market demand for motorcycles. With the decrease in price difference in comparison with scooters, that were the more popular choice earlier, the Company was able to successfully stabilize in the Indian market.Fall of Joint Venture It all began when the Company, Hero Group and HM Japan, in a joint press release dated on December 16, 2010, conveyed the decision to terminate the celebrated joint venture. The parties made public, the fact of selling of HM Japan‘s holding of 26% in the Company to Hero Group. Further, on the same date, Company also disclosed a Memorandu m of Understanding (MOU) signed between the Company, HM Japan and Hero Group pursuant to which the parties would enter into a new license agreement.This decision meant curtains for the 26 year old Indo-Japanese partnership. 1. Key clauses in the MOU signed between both the parties: In a meeting held on December 16, 2010, the board of directors of the Company approved the new licensing arrangement with HM Japan concurrent with the Hero Group‘s proposed acquisition of 26% stake held by HM Japan in the Company. 6 The highlights of this new arrangement (as per the press release from the Company) are given below7: All existing products of the Company to continueThe fresh licensing agreement with HM Japan to provide new models to the Company Company will have the freedom to export to new markets Company will have the independence to set-up its own research and development (R&D) and new product development capabilities and acquire technology No change in ongoing operations Process fo r smooth transition was finalized between the parties Name of the Company and the brand name to be changed over time Subsequently, vide a disclosure made on January 24, 2011, Company confirmed that HM Japan and the Company had executed the final binding licensing greements on January 22, 2011 with respect to existing products and new products following the MOU of December 16, 2010, which had been approved by their respective boards of directors. 2. What are the main reasons for the split? In spite of being the largest two-wheeler manufacturer in the world and riding on one of the most successful joint ventures, it seems like both the partners have had some misgivings. Key reasons that could have played a role in this historic descend are discussed here: i) Supply of components: HM Japan asked the Company to increase the supply of components ordered from HM Japan which led to disagreement between two parties for the first time. HM Japan wanted to increase its royalty from the sales o f components in the joint venture, but has been unable to do so because the bulk of the sales of almost 60%, are contributed by relatively older bikes â€Å"Splendor† and â€Å"Passion† for which the components are relatively standard and the profit margins are less (ii) Reluctance to share key technology: More stringent emission norms are set to kick in by 2015 for two-wheeler makers in India.The new Bharat Stage IV norms (BS-IV), to be imposed across India for two-wheelers by then, would be very different from the Bharat Stage III norms (BS-III) applicable today. Manufacturers are expected to make technical changes to their vehicles accordingly. Industry sources say that HM Japan and other global two-wheeler makers are investing heavily on upgrading technology to comply with new emission norms in different parts of the world. While the Indian two-wheeler market will move to BS-IV (corresponding to Euro-IV) in 2015, the European region will be upgraded to Euro-V in th e same period.HM Japan knows that better fuel injection systems are required to meet the next level of emission standards in India. HM Japan has invested heavily in making its products more fuel-efficient and it is aware that it does not stand to gain much by sharing this crucial technology with the Company. This seems to be one of the reasons why HM Japan opted to end its 26-year-old alliance with the Hero Group (iii) Brand confusion: Analysts feel that the expansion of Honda Motorcycle and Scooter India Private Limited (HMSI) and the overlaps between the two companies (i. e.HMSI and the Company) is hurting the Company. They also feel that this is leading to brand confusion because the products of both the companies are out in the market and they seem to believe that the consumer is getting confused as to which is the real ‘Honda‘ (iv) Distrust between the two companies: Certain board members also feel that there has been preferential treatment that has been given to HM SI when it comes to product and technology. They feel high-margin products seem to have found out their way into the HMSI stable whereas the low-margin products seem to have gone the way of the Company. v) Bar on exports hurt the long term growth of the Company: The board members also feel that the bar on exports for the Company is not an equitable arrangement. So far, the joint venture did not permit the Company to set foot overseas. An industry peer such as Bajaj Auto Limited exports about 30% of its motorcycles in a year. As a consequence, under the MOU and the new licensing agreement, Company won‘t have geographic constraints. (vi) Liberalization of FDI norms: The regulatory restrictions did not permit foreign investments in the 1980s.Joint ventures were a necessity at the time, done more from legal compulsions rather than commercial aspirations. Today, there are fewer restrictions. Global companies in most sectors, seeking to enter India, can make pure commercial decision s for themselves, if they want to set up a 100% subsidiary in India or enter through a joint venture. Companies with a strong network and international operating experience may like to come into India through a 100% stake and this is what HM Japan is aiming for. Post Termination of Joint VentureOffshore Japan 9. 75% 38. 04% 8. 67% 17. 33% + 26% .21% 26% INDIA Financial Institutions Individual Promoters BCIPL Hero Honda Motors Limited Bain Capital India Private Investors Lathe Investors Private Limited Honda Motor Company Limited HPIL Others 1. Mode of Exit: As mentioned further above, the parties initially made it clear that the termination of the joint venture will happen by way of the acquisition of the full 26% holding of the Company held by HM Japan by HIPL.On March 8, 2011, HIPL made a filing to the BSE and NSE as required under Regulation 3(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (Takeover Code) thereby disclosing that it proposes to acquire the entire 26% shareholding of the Company, currently held by HM Japan, on or about March 22, 2011. As a consequence of such an acquisition, the Hero Group, through its subsidiary HIPL, will consolidate its holding in the Company to 43. 33%. In combination with BCIPL, Hero Group will, thus, indirectly hold 52% in the Company. . Mode of Funding the Deal: Hero Group announced on March 8, 2011 that HIPL will be acquiring the 26% shareholding of the Company from HM Japan for a deal size of INR 38. 418 billion, which breaks into INR 739. 97 (app. USD 16. 44) per share of the Company. The announced purchase price is at a sharp discount than the market price of the shares of the Company. Interestingly, on the date of announcement of the deal size, the share price of the Company on the stock exchange in India is almost double than the acquisition price per share.HIPL has sourced the funds for the said acquisition of 26% stake of the Company in the following form: (i) Bridge Financi ng: HIPL has pledged its entire shareholding of 17. 33% in the Company in order to bridge finance its buyout of HM Japan‘s 26% stake in the joint venture. HIPL has pledged: (a) 10,741,798 shares representing 5. 379% of stake in the Company towards Axis Trustee Services Limited; (b) 11,935,331 shares representing 5. 977% of stake in the Company towards IL&FS Trust Company Limited; and (c) 11,935,331 shares representing 5. 977% of stake in the Company towards IDBI Trusteeship Services Limited.The above mentioned shares have been pledged by HIPL to issue short term debt, through non-convertible debentures expiring in 3 months, to fund the purchase of the shares of the Company from HM Japan. Insurance companies, Non-banking financial companies and mutual funds have bought the short-term bonds of the Company. (ii) Funding from private equity investors: Preceding the pledge of shares of the Company by HIPL, HIPL had made an application to the Foreign Investment Promotion Board (FIPB ) in respect to foreign investment in HIPL by certain private equity investors for the purpose of acquisition of the stake of the Company held by HM Japan.As the consideration involved is in excess of INR 12 billion (app. USD 266. 66 million), and the investment requires prior FIPB approval, the same needs to be approved by the Cabinet Committee on Economic Affairs (CCEA? ), in addition to the FIPB. Subsequent to the approval from the CCEA and FIPB, HIPL would repay the short term debt raised from the debenture holders from the funds invested by the Investors in HIPL. 3. Who are the offshore private equity investors investing in HIPL? : Dr. Brij Mohan Lall Munjal, Chairman of the Company, confirmed that HIPL has signed ? efinitive agreements? with private equity firms BC India Private Investors II, an affiliate of Bain Capital LLC, and Lathe Investment Private Limited, a wholly owned subsidiary of Government of Singapore Investment Corporation (Ventures). HIPL proposes to fund the a cquisition by issuing securities to the Investors worth INR 45 billion (app. USD 1 billion). BC India Private Investors II has agreed to pick up 70% of the investment and the balance 30% will be held by Lathe Investment Private Limited. 4. What is the speculation regarding payment of royalty under the new licensing arrangement? As was expected, HM Japan will end up selling its 26% stake to the Hero Group at a substantial discount to the market price. To offset this, there is a speculation that the Company would now have to pay higher royalty amounts till 2014 as an arrangement under the new licensing agreement entered between the parties on January 22, 2011. In addition, experts say the Japanese automaker's royalty from the Company will `most likely' be subject to corporate tax in Japan. Interestingly, on December 18, 2010, Japan's Nikkei daily reported that HM Japan would divest its stake to its Indian partner for INR 54 billion (app.USD 1. 2 billion) when the current market value of its holdings is nearly INR 99 billion (app. USD 2. 1 billion), that is, at a discount of nearly 45% to the market. However, as per a report, HM Japan's royalty from the Company is expected to jump three-fold, from the present 2. 6% of total sales to 8%. This will last 3 years till 2014 when the technology pact between the two partners expires. At present, this royalty outgo is around INR 4. 2 billion (app. USD 93. 33 million), which will triple to nearly INR 14 billion (app. USD 311. 11 million) per year, for the next 3 years.In the process, HM Japan will get over INR 40 billion (app. USD 888. 88 million), as pre-tax royalty. However, the Hero Group has denied any increment in rate of payment of royalty to HM Japan and the licensing agreement signed between the two groups on January 22, 2011 seeks to keep the royalty rate at around 2. 3 -3% 5. What are the consequences of HM Japan exiting the joint venture? How does it impact on the future of the Company? : Continuation of suppor t from HM Japan in the form of a licensing agreement related to technology transfer for new products is expected to provide the Company an adequate time to put in place ong term alternatives for technology support. On the business side, notwithstanding the cessation of joint venture agreement, the Company may be considered to have the ability to protect its market share and product franchise over the short to medium term benefitting from the Company‘s management‘s knowledge of the Indian consumers, Company‘s wide distribution network, an established supply chain besides strong relationship enjoyed by the Company with its dealers and vendors.The impact on the Company over the longer term would depend on the Company‘s ability to forge alternative technology tie-ups and sustain the confidence of all stakeholders. Overall, with the exit of HM Japan, the Company would need to scale up its product development initiatives, which may impact its return indicators goin g forward. Nevertheless, the Company could benefit from expanding its presence in overseas markets through exports and/or by establishing production facilities overseas, something it could not do earlier because of the restrictions under the joint venture agreement with HM Japan.Given the high competitive intensity in overseas markets on account of presence of many players from India, China, Japan etc, Company‘s ability to increase penetration in new geographies and at the same time maintain profitability would be tested in the coming years Legal and regulatory considerations: 1. Will HIPL be required to make an open offer under the Takeover Code?Under the Takeover Code, the open offer requirements are triggered in the following three situations: (i) 15% shares or voting rights: When an acquirer acquires shares or voting rights which entitles it to exercise 15% or more of the voting rights in a listed company. (ii) Creeping acquisition limit: When an acquirer, who holds 15% or more, but less than 55% shares or voting rights in a company, acquires, additional shares or voting rights entitling him to exercise more than 5% of the voting rights of a company, in a given financial year. iii) Voting Control: When an acquirer acquires control over the target company, irrespective of whether or not there has been any acquisition of shares or voting rights. However, Regulation 3 of the Takeover Code provides certain exemptions from the open offer requirements one such exception is inter se transfer of shares amongst â€Å"qualifying promoters†; provided that the transferor promoter as well as the transferee promoter has been holding shares in the target company for a period of at least 3 years prior to the proposed acquisition.Since, shares of the Company are proposed to be purchased by HIPL from HM Japan, and both HIPL and HM Japan have been named as promoters in the shareholding pattern disclosed to the stock exchanges for the past 3 years, the inter se t ransfer of shares amongst them should not trigger the open offer requirements under the Takeover Code. 2. Does the investment by Investors in HIPL require prior Government / FIPB approval? Regulation 4. 6. of the Consolidated Foreign Direct Investment Policy, released on October 1, 2010 (FDI Policy) provides the guidelines for foreign investment into investing companies. Regulation 4. 6. 4 (iii)(a) of the FDI Policy states that – foreign investment in ‘Investing Companies‘ will require the prior Government / FIPB approval, regardless of the amount or extent of foreign investment. Since, HIPL is holding the shares of the Company and is registered as a NBFC as per the list of non deposit accepting NBFCs on the RBI website, foreign investments in HIPL will require prior FIPB approval.Further, as per Regulation 4. 9. 1(ii) of the FDI Policy, the recommendations of FIPB on proposals with total foreign equity inflow of more than INR 12 billion (app. USD 266. 66 million) would be placed for consideration of CCEA. From the press release dated February 23, 2011 issued by the Government of India, Ministry of Finance, Department of Economic Affairs, (FIPB Unit) it is clear that HIPL had applied to FIPB for approval of induction of foreign equity upto INR 45 billion (app.USD 1 billion), and the matter has now been recommended for the consideration of CCEA. 3. Will the Investors be required to make an open offer under the Takeover Code? Since, acquisition of stake in HIPL by the Investors will only give it an indirect holding of less than 15% in the Company, and it does not seem that the Investors would be acquiring control of the Company, the Investors may not be required to make an open offer under the Takeover Code. . What will be the disclosure requirements in respect of the proposed transfer of shares of the Company? Disclosures by HIPL: (i) Under Takeover Code: Since, post the acquisition, the shareholding of HIPL would entitle it to more than 14% shares / voting rights in the Company, HIPL will need to make a disclosure under Regulation 7(1) of the Takeover Code to the Company and to the stock exchanges where shares of the Company are listed.Further, since the acquisitions will be under Regulation 3(1)(e), and the acquisition will be more than 5%, HIPL will be required to notify the stock exchanges where the shares of the company are listed, for information of the public, of the details of the proposed transactions at least 4 working days in advance of the date of the proposed acquisition. ii) Under SEBI (Insider Trading) Regulations, 1992: Since, HIPL is currently holding more than 5% shares in the Company, and pursuant to the Proposed Transaction it will acquire more than 2% of the total shareholding in the Company, HIPL will need to make a disclosure under Regulation 13(3) of the Insider Trading Regulations to the CompanyDisclosures by the Investors (i) Under Takeover Code: Since, post the acquisition, PE Investors, will get an indirect holding of close to 13% in the Company, the Investors will need to make a disclosure under Regulation 7(1) of the Takeover Code to the Company and to the stock exchanges where shares of the Company are listed. Disclosures by the Company i) Under Takeover Code: Since, Company‘s shares are acquired in a manner referred to in Regulation 7(1) as mentioned above, Company needs to disclose to all the stock exchanges on which the shares of the Company are listed, the aggregate number of shares held by each of such persons referred above, within 7 days of receipt of information under Regulation 7(1). (ii) Under Insider Trading Regulations: The Company shall within 2 working days of receipt of information under Regulation 13(3) from HIPL as mentioned above, disclose the same to all the stock exchanges on which the Company is listed. . What will be the mode of acquisition of shares of the Company by HIPL? From the shareholding pattern on the BSE website as on December, 2 010, it appears that the shares of the Company held by HM Japan are in physical form. If the transfer of shares takes place in physical form, a stamp duty of 0. 25% of the value of shares shall be applicable; however, no stamp duty shall be applicable, if the shares are transferred in dematerialized form. If the shares are in dematerialized form, the transfer may take place either off the floor of the stock exchange or on the floor of the stock exchange.As mentioned above, an off the floor of the stock exchange transfer may lead to higher tax implications compared to an on the floor of the stock exchange transfer. On the floor of the stock exchange, the transfer can take place in two ways, i. e. (i) by way of a block deal and (ii) by way of a bulk deal. Block deal: A block deal is execution of large trades through a single transaction. For this purpose, stock exchanges are permitted to provide a separate trading window.Block deal will be subject inter alia to the following condition s (a) The said trading window may be kept open for a limited period of 35 minutes from the beginning of trading hours i. e. the trading window shall remain open from 9. 15 am to 9. 50 am. (b) The orders may be placed in this window at a price not exceeding +1% from the ruling market price / previous day closing price, as applicable. (c) An order may be placed for a minimum quantity of 5,00,000 shares or minimum value of INR 50 million (app. USD 1. 11 million). (d) Every trade executed in this window must result in delivery and shall not be squared off or reversed. e) The stock exchanges shall disseminate the information on block deals such as the name of the scrip, name of the client, quantity of shares bought/sold, traded price, etc to the general public on the same day, after the market hours. Since, the proposed consideration price for the transfer of the shares of the Company is INR 739. 9735 (app. USD 16. 44) and the prevailing market price on March 10, 2011 is INR 1,537, it is unlikely that the condition (b) mentioned above would have been satisfied. 6. Why is HIPL issuing debentures of minimum maturity of 3 months and not less?From reports dated February 28, 2011, it appears that HIPL is raising short term debt through non-convertible debentures expiring in 3 months, for which it has pledged the shares of the Company as collateral. The group is raising debt because funds from private equity firms will take some time and HM Japan wants an early exit. But why is the term of the debentures for 3 months and not shorter? The RBI had issued directions (NCD Directions), to regulate the issuance of non-convertible debentures of original or initial maturity up to 1 year and issued by way of a private placement (NCDs) by corporate.The NCD Directions provides that the NCDs shall not be issued for maturities of less than 90 days from the date of issue. The exercise date of option (put/call), if any, attached to such NCDs, also shall not fall within the period of ni nety days from the date of issue. Therefore, in light of the NCD Directions, HIPL is prohibited from issuing NCDs of maturity less than 3 months. 7. What will be disclosure requirements in case of pledge of shares of the Company to raise loans by way of NCDs?By HIPL: HIPL, being a part of the promoter group of the Company, shall within 7 working days from the date of creation of pledge on shares of the Company held by it, inform the details of such pledge of shares to the Company under Regulation 8A(2) of the Takeover Code. By the Pledgees: Since, the term acquirer under Regulation 7(1) of the Takeover Code has been clarified to include a pledgee, other than a bank or a financial institution, therefore, the Pledgees in whose favour the shares of the Company are pledged, and the threshold of 5%, 10%, 14% etc. re crossed, shall make disclosure to the Company and to the relevant stock exchange within 2 days of creation of pledge. By the Company: Company shall disclose the information r eceived by it under Regulation 8A(4) of the Takeover Code to all the stock exchanges on which its shares are listed. 44 Further, the Company shall also disclose to all the stock exchanges on which the shares of the Company are listed, the aggregate number of shares held by each of such persons referred above within 7 days of receipt of information under Regulation 7(1) of the Takeover Code . Will the recently notified merger control regulations affect the Proposed Transaction? On March 4, 2011, the Government of India, Ministry of Corporate Affairs notified the much debated provisions of the Competition Act, 2002 (Competition Act) relating to combinations? namely Sections 5 and 6. Although notified as of March 4, 2011, these provisions are to take effect from June 1, 2011 (Effective Date) giving all those subject to the same, a period of 3 months to tie loose ends and complete unfinished transactions before getting entangled in the web of the Act.Since, the merger control provisions will come into force from the Effective Date, and the proposed acquisition of the shares of the Company is to take effect on March 22, 2010, the acquisition may not be subject to the filing / approval requirements under Sections 5 and 6 of the Competition Act. However, if the subscription of the shares of HIPL by the Investors does not take place before June 1, 2011, due to delay in approval by the CCEA or otherwise, it is likely that the Investors would be hit by the notifications regarding merger control provisions as mentioned above.However, vide its notification on March 4, 2011 the Government of India has exempted the acquisitions of small enterprises whose turnover is less than INR 7. 5 billion (approx USD 167 million) or whose assets value is less than INR 2. 5 billion (approx USD 56 million) from the definition of combination as defined under Section 5 of the Act. Therefore, if HIPL does not breach any of the exemption thresholds as mentioned above, the Investors will be ex empted from the approval requirements under the Competition Act, even if the Proposed Transaction closes post June 1, 2011. . Would HM Japan have required any prior approval while setting up its subsidiary HMSI in India? Press Note 18 (1998 Series) issued by the Department of Industrial Policy & Promotion provides that â€Å"automatic route for FDI and/or technology collaboration would not be available to those who have or had any previous joint venture or technology transfer/trade-mark agreement in the same or allied field in India†.?Since, both HMSI and the Company are in the same / allied fields, and HMSI was set up post 1998, it is likely that HM Japan may have obtained Government / FIPB approval prior to or at the time of setting up its subsidiary. 5. CONCLUSION Through our analysis we have seen that demergers are as complex as mergers or sometimes even more complex than mergers.The following were the key motivations and reasons behind the demerger: Lack of trust between the two companies whether it was related to supply of components or regarding the sharing of technology Honda motors can now successfully sell products branded solely with Honda marquee Hero will get to fulfil it unrealized dream of exploring lucrative export markets Liberalized FDI norms also favoured demerger because now Honda could setup wholly owned company The financing of the deal as in analysis part we saw was carefully structured to satisfy the legal and regulatory requirements which led HPIL to pledge its shares for short duration of three months, a period for getting approval for a foreign investment firm investing in an Indian investment firm. The major issues arise in the demerger are mainly regarding sharing o transfer of the assets of the pre demerger company. The following clauses were included in MOU to address those issues: All existing products of the Company to continueThe fresh licensing agreement with HM Japan to provide new models to the Company Company will h ave the freedom to export to new markets Company will have the independence to set-up its own research and development (R&D) and new product development capabilities and acquire technology No change in ongoing operations Process for smooth transition was finalized between the parties Name of the Company and the brand name to be changed over time The disclosure and compliance requirements under SEBI insider trading rule, Takeover code, RBI, BSE and FIPB are heavy because company (pre demerger) is a listed entity and is a joint venture between Indian and a foreign firm. The involvement of foreign PE investors further made the issue complex.But all the legal, strategic and regulatory requirements have been carefully taken care of and clearly complied by both the companies and a clear and dispute free framework has been adopted regarding sharing of assets like brand name and technology. 6. REFERENCES CLASS NOTES Of Managing the legal & Regulatory Environment of Indian Business ( june 12 th to august 24th of 2012 ) http://student. iimcal. ac. in/ww/cw (23. 08. 12 to 02. 09. 12) http://en. wikipedia. org/wiki/Hero_Honda_Split (01. 09. 12) http://www. heromotocorp. com/hero_admin/data_content/pdf/annual_report/Annual_Report_2010-11. pdf (01. 09. 12) http://www. icra. in/files/pdf/HHML-201012. pdf (23. 08. 12) http://world. honda. om/profile/overview/(23. 08. 12) http://world. honda. com/profile/overview/(01. 09. 12) http://www. bseindia. com/stockinfo/anndet. aspx? newsid=bfe25ca2-c4de-4f75-9217-a3c48f694d75¶m1=1 (23. 08. 12) http://www. bseindia. com/xml-data/corpfiling/AttachHis/Hero_Honda_Motors_Ltd_161210. pdf (23. 08. 12) http://www. bseindia. com/stockinfo/anndet. aspx? newsid=54d0d519-450a-47c8-9f37-2c7d8c61feec¶m1=1 (01. 09. 12) http://www. bsmotoring. com/news/emission-norms-triggered-honda-exit/2940/1(01. 09. 12) http://www. bseindia. com/xml-data/corpfiling/announcement/Hero_Honda_Motors_Ltd_080311_SAST. pdf (01. 09. 12) http://articles. timesofindi a. indiatimes. om/2011-03-09/india-business/28671937_1_private-investors-ii-lathe-investment-private-limited-hero-honda(23. 08. 12) http://articles. timesofindia. indiatimes. com/2011-03-09/india-business/28671621_1_pe-investment-hero-honda-munjals (01. 09. 12) http://www. blonnet. com/2010/12/05/stories/2010120552310100. htm (31. 09. 12) http://www. moneycontrol. com/news/business/hero-honda-execute-final-binding-license-agreement_515705. html (31. 09. 12) www. icra. in/files/pdf/HERO HONDA MOTORS LIMITED-201012. pdf (01. 09. 12) http://rbidocs. rbi. org. in/rdocs/content/pdfs/73342. pdf (31. 09. 12) http://www. business-standard. com/india/news/honda%5Cs-exit-gives-bain-gic-15-in-hero-honda/427844/(31. 09. 12)

“A Tale of Two Cities” by Charles Dickens

â€Å"A Tale of Two Cities† by Charles Dickens entails eternal themes of transformation and resurrection because nothing is permanent in the world and along with rapid run of life people are constantly changing to respond to emerging goods and evils.This eternal themes are of great value because in such a way the author shows that all people should be provided with a chance to change their lives for better, to strive for better living for themselves and their beloved people.Actually, resurrection of heroes promotes the idea of hope which never dies. Transformation and resurrection are two powerful themes which are seen throughout plot progression. Furthermore, resurrection and transformation are illustrated on both societal and personal levels. It is seen that many characters appear to be involved in themes of redemption, love, and good vs. evil. All these themes are brought together to portray the themes of transformation and resurrection.These themes can be applied to Dr. Ma nette who was taken away from his pregnant wife and unborn child. Dr. Manette was imprisoned for eighteen years and during them he experienced the worst conditions and he even forgot his real name. Dr. Manette is resurrected and his life is transformed for several times throughout the novel.In â€Å"Book the First† French government released him and bring to Monsieur Defarge to be cared. Thus, French government gave him hope for restoring his life, his past and future because Dr. Manette is suddenly â€Å"recalled to life†. (19) Nevertheless, his transformation wasn’t complete till he was reunited with his lost daughter Lucy. It was Lucy’s love that enabled Manette to resurrect spiritually and his daughter reinforced his notion of the rebirth.Then, in â€Å"The Golden Thread† the themes of resurrection and transformation are involved several times. For example, Charles Darnay was put on the trial because of treachery in England. He was considered a spy as he traveled forth and back between England and France. People were sure he had to be found guilty and, therefore, he had to be sentenced to death.However, Sydney Carton saved his live and Dr. Manette was â€Å"recalled to life† (35) for the second time. Nevertheless, then Dickens presents different perspectives on resurrection and transformation themes. For example, he illustrates resurrection with a parody. Jerry Cruncher was a body-snatcher and he considered his night activities as the honest trade. His son was also proud of father’s activities and he desired to follow him: â€Å"Oh, Father, I should so like to be a resurrection-man when I'm quite growed up!† (166)It is necessary to outline that Sydney Carton is one more character who involved the most in the themes of transformation and resurrection. Firstly he was presented as a man with lo self-esteem, though he was provided with tremendous amount of devotion, courage and self-sacrifice. It was Cart on who helped to resurrect Charles Darnay, though it was no the only time he saved human’s life.When he organized the switch, the author emphasized the inner purposes of his actions. Dickens argues that Carton has never achieved the desired outcomes in his life and now the chance is ensured. Carton realized he had to endanger his life as it was a way to redemption.Sydney understood his switch was successfully arranged and he had done a good job. When facing death Carton didn’t back away; instead he embraced it to resurrect later. Till death he was prophetic and peaceful and he even made friends with woman being unjustly sentenced to death. In the final moment before death, Carton was portrayed as a Messiah who was giving his life allowing others to enjoy theirs.Before he was beheaded, he uttered Jesus’ words: â€Å"I am the Resurrection and the life, saith the Lord: he that believeth in me, though he were dead, yet shall live: and whosoever liveth and believeth in me shall never die†. (366) In such a way the author tends to show that Carton lived till the end of the book when final resurrection took place.Summing up every theme in the book is provided with specific purpose. Eternal themes of redemption, love are included in the transformation and resurrection theme to unite the plot and to add to author’s style of writing.Works CitedDickens, Charles. A Tale of Two Cities. New York: Oxford University Press, 1976. A Tale of Two Cities by Charles Dickens The book is called A Tale of Two Cities by Charles Dickens published by Penguin books in New York first published in 1839. The book’s 449 pages talks mostly about the years leading up to the French Revolution and climaxes in the Reign of Terror perpetrated by the Jacobins.The story is about Charles Darnay, a French Aristocrat, and Sydney Carton, an English barrister. Both fall in love with the same woman, Lucie Manette. Eventually, Sydney is executed. The chapters are almost evenly divided between events in France and Events in England.II. AnalysisThe novel as per Dickens’ conception dealt heavily with themes of ressurection, guilt, hope, shame, redemption, social injustice and patriotism.The novel was a rare example of a Dickens’ novel having a historic theme because it talked about real world events that happened France and England during the years of revolution. His book teaches us about the futility of mob violence and the violence that occurs in relation to the French revolution most especially the excesses of the Jacobins. Finally, the book teaches us about the extreme social inequality that eventually led to the revolution.III. Appraisal.I liked the book because it applied Dickens’ impressive writing skills to the field of history. The normally bland topic is given amusing form and becomes something the youth can enjoy reading about. I would recommend it to other young people as an introduction to history and the social inequalities of Europe that led to the revolutions that swept the continent.