1. Why will a weather derivative be useful for PNW Essays - Economy

1. Why will a weather derivative be useful for PNW Essays - Economy 1. Why will a weather derivative be useful for PNW? 2. What does Enron stand to gain by selling a weather derivative? 3. Should PNW purchase a weather derivative? Why or why not? Earnings per share (EPS) is the portion of a company's profit allocated to each outstanding share ofcommon stock.Earningsper share serves as an indicator of a company's profitability. Capital intensive refers to a business process or an industry that requires large amounts of money and other financial resources to produce a good or service.In finance, thecost of equityis the return (often expressed as a rate of return) a firm theoretically pays to itsequityinvestors, i.e., shareholders, to compensate for the risk they undertake by investing their capital. Ahedgeis an investment position intended to offset potential losses or gains that may be incurred by a companion investment. In simple language, a hedge is used to reduce any substantial losses or gains suffered by an individual or an organization. Cost of debtis the interest a company pays on its borrowings. : Mary Watts , the chief financial officer of Pacific Northwest Electric. Why will a weather derivative be useful for PNW? 1, weather derivative targets at power producers that was exposed to volume risk as a result of changes in weather. Volume related revenue - the deviation of actual acumulative degree days from an established threshold Weather is biggest independent variable in power business Watts analysis - seasonal demand is highly correlated with cumulative HDD 2000-01 is expected to be an unseasonably warm weather- less consumers (use of electricity) - huge impact on earning (devastating) 2, public utility - regulations permit them to pass along costs to consumers Capital intensive firm But there are already a variety of producers on the power grid where consumers can purchase power from. If they pass along costs to consumers , it would result in a loss market. Weather derivative can be an alternative way to compensate the loss in income associated with lost demand instead of increasing prices. What does Enron stand to gain by selling a weather derivative? 1, Enron corporation is the world's leading integrated natural gas and electricity company Discover a method for hedging its own weather risk - help other power producers to manage their own weather risk (customerized products) not just price risk but also volume related risk 2,Better meet customer demands(compared to two other options insurance and capital and commodities markets) exchange traded contracts need to be marked to market frequently - the hedge was pegged to a market index. Should PNW purchase a weather derivative? Why or why not? Yes Gross margin per HDD is 40.30 ? Contract Limit : 20,000 * 400HDD= 8000,000

When to Use Palate, Palette, and Pallet

When to Use Palate, Palette, and Pallet The nouns palate, palette, and pallet are homophones: they are pronounced similarly but have different meanings. The noun palate refers to the roof of the mouth or the sense of taste.The noun palette refers to an artists paint board or a range of colors.The noun pallet is a straw-filled mattress or a hard bed. Examples Egypts senior archaeologist recently discovered that King Tutankhamen was born with a cleft palate and a clubfoot.Walt Disneys Pinocchio paraded the studios early perfection of the cartoon form: subtle character delineation, a rich color palette, and an inside knowledge of boyhood traumas.In one of the more lurid fairy tales, ogres chop off the legs and arms of a woman to make her body fit a pallet.Percy Painter, a promising but penniless portraitist, might possibly profit were he to pick up, perhaps procure, (1) a plentiful patron with a palate for portraiture, (2) a palette with pigments properly primed, and (3) a pretty person pleasingly prepared to pose pleasantly on his paltry pallet. (Robert Oliver Shipman, A Pun My Word: A Humorously Enlightened Path to English Usage. Rowman Littlefield, 1991)

JP Morgan Chase Proposal Analysis Essay Example | Topics and Well Written Essays - 1750 words

JP Morgan Chase Proposal Analysis - Essay Example The essay "JP Morgan Chase Proposal Analysis" talks about the in-house software development process to solve one of JP Morgan Chase challenges in cyber security. Through research and development, the technology team at JP Morgan Chase will come up with a system that will use in protecting the intrusion of hackers. The process of developing software to deal with the problem of cyber security is as important as the outcome. Through the development of the system from scratch, the information and technology team will have a greater understanding of the functionalities. In designing the system, for instance, the description of the data flows help the development team to identify any potential weak point in the system. Through charts and diagrammatical explanations, other members of the organization can also easily understand the underlying processes in the system. In most organization, the introduction of new ideas and ways of doing business is often met with a degree of resistance. The r esistance will stem from the fact that the members of the organization have little or no understanding of the system. As such, implementing the change brings with it a high level of challenge. Through this process, JP Morgan Chase staff involved in the change to the new system will receive an in depth understanding that is crucial for the system’s successful implementation. As a direct result of the comprehensive understanding of the system, the employees involved in the development process can also easily troubleshoot the system.

2 questions about Baroque and Rococo style Essay

2 questions about Baroque and Rococo style - Essay Example Baroque style also made the pictorial space extend infinitely, similar, and cosmologic concept that gained popularity in seventeenth century. Baroque style created satisfying relationship between depth and height as well as creating transition from dark to light. Baroque style widely used exaggerated and direct emotional involvement to produce drama that was encouraged by the Roman Catholic Church. The artists portrayed Christians as people from lower classes and down to earth approach to offend most viewers who believed that religious figures should be portrayed as idealized to signify their holiness. Linear style which was mostly used in Baroque was considered the best model in the modern painting. Classical landscape and the desire to appeal to the emotional states by appealing to the senses were also embraced. The following artwork shows the examples of Baroque style. Rocco art style is believed to have originated from France and was mainly used for interior design where painting and decoration characterized b lightness, delicacy and elaborate ornamentation was involved. Although its exact origin is obscure, the style corresponds roughly to the reign of King Louis XV of France and began with the French designer Pierre Lepautre who introduced arabesques and curves into the interior architecture of the royal residence to break with the heroic Louis XIV style. This style was as a representation of higher domestic life in the superior class individuals in the society. Rococo style included elegant dressings.

Family run business Wyncraft Essay Example for Free

Family run business Wyncraft Essay As a Family run business Wyncraft produces high quality decorative home wear, ranging from mainly wooden products as well as high quality pottery, decorative metals and table decorations. Wyncraft will produce these quality products by using wood from only sustainable Norwegian Forests to maintain the future of the business and the environment from which the products naturally and originally derive from. Objectives: Staff levels of Wyncraft Wyncraft operates with different levels including: Technical the practical job roles involved with production of goods, staff perform tasks set out by manager and supervisors etc. Workforce are usually without authority and controlled by managerial and community level staff. Staff at this level- * Jack in addition to one full-time and one part-time member of staff in the sanding and varnishing department * Fred, Albert (Tub) and JR (John Roberts) are hands on in the cutting department and 8 full-time production staff, * Despatch employees 3 full time staff and one driver Graham * Part-timers and home workers assembly assistance * Assistant/secretary Jean Hudson, * Yvonne human resources role, * Harry sales, personnel as well as the books Managerial the technical level interrelates with the managerial level, which is concerned with the co-ordination and integration of work at the technical level. Generally supervisors/managers, the main role is to outline the specific requirements to the technical level form the community level. Other roles include dealing with customers, clients and suppliers. Staff at this level * Harry manages and oversees all operations of the company providing him with high responsibility and authority. * Jack manages the sanding/varnishing department * JR oversees the production department Community the board of directors, this level makes decisions of how the company is to be run by the other interrelated levels. They are responsible for the operation of the organisation as a whole they have authority to provide regulations/requirements in which the rest of the organisation must comply with. In addition this level interrelates with the managerial level to inform of such procedures. Staff at this level * Harry * Jack * Albert * Fred All the brothers above are the owners/directors of Wyncraft where as Harry has more of a managing director role. Although the brothers are at the community level they do operate in the technical level and most operate in the managerial level too. The three levels community, technical and managerial can be represented in a diagram to show the interdependence and authority levels. The diagram highlights the fact that each level could not survive without the other levels. Wyncraft Memorandum To: Harry Roberts From: Ryan Johnson Date: 5/12/04 Re: The importance of good organisational structure Although there are many factors and constraints, which can affect a company structure there is a need to establish a framework of order and system of command by which the work to be undertaken is accomplished successfully. This implies that attention be given to the design and implementation of the company structure. Structure can make or break an organisations (Mullins 2002 p.536) Organisations are groups of people brought together for a specific purpose, for this to be achieved successfully people need to be organised within the best possible structure. (Mullins 2002) In relation to Wyncraft it is necessary to organise and formalise the company into a structure in order to expand successfully and attract and recruit new staff. Good organisational structure can be a means of dividing responsibilities and tasks equally and fairly amongst executives to ensure a simple, effective and functional process for Wyncraft. At present it would appear that Harry Roberts has a higher responsibility level than his co-owners, it can cause pressure for one person to have the majority share in responsibility. It is not good for the company or Harry to oversee all departments and company functions, the role should be shared to ensure that quality is being produced within Wyncraft. If there were shared roles in high responsibility tasks then this could guarantee service and production are of an acceptable standard for Wyncraft. Furthermore specialist staff within managerial department roles could provide Wyncraft with higher standards and production leaving the executives more time to concentrate on further selling and expansion. Wyncraft Proposed Organisation Chart There are many possible structures for organisations to use when considering producing an organisational chart, function, area, process, product and customer. * Function most common structure used, involving the company being split up into departments or specialisations. * Area used by large national or multinational businesses, the concept being that co-ordination is implemented from Head Office to ensure that efforts are not duplicated when different locations carry out similar activities. * Process this is used when requirements for different skills are needed, for example when product is manufactured it passes through several stages requiring different skills for the stages of the process. * Product This is used in large organisations or for companies that have wide product ranges. * Customer this is used when a business has different types of customers who need different and specialised treatment or modified service or products. Most organisations will structure themselves in a way that a variety of structure options are used, different departments could be structured using a different format. In relation to Wyncraft it is appropriate to consider using chart structures that are relevant to its production and process. Although all options should be considered I propose that Process and Function are more practical in terms of Wyncraft. Looking at the above descriptions of structure options Product, customer and area can be ruled out, this is due to the size of the company being relatively small in comparison to large multinational companies and the product range generally quite limited. It is important to remember the main function of the company: production of environmentally friendly quality home wear, which leads on to the need for clear process and function management. Read more:Â  Family Run Business Proposed Process chart for Wyncraft: How Wyncrafts product is manufactured requires different departments/functions with different skills etc. The diagram above illustrates the process in which the product is made which highlights the need for a clear functional process. With a sufficient functional chart or structure then the process above can be implemented. Departments such as personnel are necessary to be part of the company but are not necessarily part of the process involved in the production of the product. Therefore although personnel and marketing etc. need to be considered a separate structure chart is not necessary at this stage. Proposed function chart for Wyncraft: Organisation Functions An organisation consists of departments they usually take the following format: * Personnel the function of Personnel is typically to control recruitment, provide staff training, promote legal and safety requirements and create policies and procedures. In relation to Wyncraft personnel Yvonne manages issues and although she does not work full time for the company she takes a leading role in this department. Harry oversees this department and manages this role if necessary to cover any period of time Yvonne is not present. Being a company that only employs 48 people many of the typical functions of a Personnel department are not carried out. The kind of issues Yvonne would deal with within Wyncraft would be the less formal and personal aspects of Personnel for example staff absence etc. * Production typically the function of the production department includes manufacturing the product, establishes priority order for consumer demand, works within standards and budgets and maintains flow of production. In relation to Wyncraft the main focus for the company is production, the list above does reflect the function of this department in Wyncraft well. The production department is responsible for cutting; shaping, drilling and preparing all the wood used in the production of their home wear products. They are heavily reliant on machinery and control machinery maintenance and must adhere to safe practice as well as storing and controlling materials. * Sales typically this department sells the product and continually looks to expand and increase sales for the company. In relation to Wyncraft Harry mostly undertakes this role and concentrates on targeting major department stores and smaller (high quality) independent china/gift stores. Sales for Wyncraft is different to most organisations as selling direct to customers would actually most likely loose custom for the company. Sales for Wyncraft are expanding overseas due to the success of their web page; the main function of this department now is to concentrate on expansion overseas to supplying to the major department stores. * Marketing generally consists of establishing consumer demand, promotes the product, examines the market and conducts market research. In relation to Wyncraft it seems apparent that there is no actual department for this function. Harry oversees this role and perhaps as part of his sales he also implements some form of marketing, however as Wyncraft is a small company it is realistic that there is no specific marketing department. Strong client relationships with major department stores could provide Harry with enough knowledge on consumer demand and market research etc. * Finance this department deals with all monetary aspects of the company. Typical roles include, balancing accounts, planning and expenditure, wage and salary administration and account management. In relation to Wyncraft Yvonne is responsible for wages and accounts Harry takes control of the company accounts, all companies no matter what size need to manage their accounts and obviously pay their staff. Wyncraft does not have a specific finance department due to the small size of the company. * Purchasing this department would generally be in charge of buying in materials required for production. In relation to Wyncraft all wood is bought from sustainable Norwegian Forests and quantities are provided from the production department, the product range for Wyncraft is small and therefore no specific department is required to buy repeat materials. * Research and Development this department usually provides improvement for production methods and processes through research, identifies new technology and researches new products. In relation to Wyncraft there is no research and development department although progress has been made on the technological aspect with the implementation of the successful web page. Interdependence between these departments can vary between companies in the case of Wyncraft where not many specific departments exist then it could be assumed that the dependence occurs without recognition. The finance department will provide obvious constraints to all departments because without funding they cannot function. The main function of Wyncraft is obviously production and without this the other functions would have no purpose. Sales department is reliant upon production and vice versa because without demand production is pointless and without production sales are not attainable. Relationships within Wyncraft: = Line relationship = Functional relationship = Staff relationship = Lateral relationship Staff can operate with more than one relationship an example of this is Harry who operates in a staff relationship with his secretary, a line relationship with JR and Jack Roberts and also a lateral relationship with many of the other members of staff.

How the Characters in Much Ado About Nothing Learn to Love Essay

How the Characters in Much Ado About Nothing Learn to Love  Ã‚        Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The title of Shakespeare’s Much Ado About Nothing has sparked scholarly debates about its meaning for centuries.   Some say it is a play on the term â€Å"noting†, revolving around the theme of all sorts of deceptions by all sorts of appearances (Rossiter 163).   Others claim it has more to do with everyone making a fuss about things that turn out to be false, therefore, nothing (Vaughn 102).   Regardless of these speculations, there is something rather profound going on in the play that is worth making a big deal about: four characters in the play learn about love, and eventually, how to love.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The four characters that learn the art of love are Beatrice, Benedick, Claudio and Hero.   From the first viewing/reading of the play, Claudio and Hero seem to be the main focus.   However, looking deeper into the entire play, and/or if you read any scholarship on Much Ado About Nothing, the true fascinating plotline involves Beatrice and Benedick. The main difference between these two couples involves how they learn the art of love.   At the beginning of the play, Claudio is the first one out of all the lovers to express his affections for someone else; however, he seems to have the weakest grasp on the concept of love compared to everyone else.   Claudio hints of his growing feelings for Hero when he asks Benedick what he thinks of her (I.i.161).   Benedick, who has a disdain for marriage, is not very helpful to Claudio.   However, he does manage to draw out of Claudio the reason for his inquiry: â€Å"In mine eye, she is the sweetest lady that ever I look’d on† (I.i.188). This first glimpse into Claudio’s heart reveals mostly shallowness.   His first words... ...ial Identity and Masculinity in Much Ado About Nothing† Upstart Crow 16, (1996): 31-47.    Much Ado About Nothing.   Directed by Kenneth Branagh.   Samuel Goldwyn Company and Renaissance Films, 1993.    Much Ado About Nothing.   The Riverside Shakespeare, 2nd ed.   Boston: Houghton Mifflin Co., 1997.   366-398.    Prouty, Charles A.   The Sources of Much Ado About Nothing. New York: Books for Libraries Press/Yale University Press, 1950.    Ranald, Margaret Loftus.   â€Å" 'As Marriage Binds, and Blood Breaks': English Marriage and Shakespeare† Shakespeare Quarterly 30, (1979): 68-81.    Rossiter, A.P. â€Å"Much Ado About Nothing.†   William Shakespeare Comedies & Romances. Ed. Harold Bloom. New York: Chelsea House Publishers, 1986.    Vaughn, Jack A. Shakespeare’s Comedies.   New York: Frederick Ungar Publishing Company, 1980      

Literature of the Western World Essay

The hallmarks of the epic hero represent different traits like possessing super-human or superior, being courageous and intellectual, and being responsible and strong leader. The epic hero undergoes phases of struggle in the journey of self-discovery against the constraints in the societal changes. In the poem Odyssey, the main character Odyssey struggles on the way to self-discovery until he overcomes the obstacles and in his venture to fend off the suitors of his wife Penelope. Odyssey has all the qualities of an epic hero for he is brave, courageous, superior strength, and intelligence wins him back his wife (Wilkie & Hurt, 1998, p 19). In the poem Iliad by Homer, the epic hero, Achilles although in some aspects is different epic hero; he has pride and arrogance that characterize the epic heroes (132). In the Aeneid by Virgil hero is more of improvised and imitated than it is the case of epic hero. The Aeneid is derivative for it borrows from Homer and contextualizes it in Roman and Virgilian. The individualistic view is portrayed in Iliad depicting the characters from his own judgment at his time but not according to the canonical standards (273). In the epic of Gilgamesh, the main character Gilgamesh has all the qualities of an epic hero because he goes out of his way to serve his people and show respect to those who reciprocate his actions to them. Pride is his tragic flaw; Gilgamesh learns his lessons after losing his arrogance. He has great hero’s attributes because he is great leader, ready to sacrifice his life for his people and thus he fits in the Heroic Code (973). The Sophocles play Oedipus Rex is the greatest tragedies the Elizabethan era has ever produced. The plot revolves around Oedipus and the prophesy of the oracle. In the play after prophesy is fulfilled, plague affects Thebes and King Oedipus is committed unravel the cause. When he consults the oracle, it is like a person going through a process of gradual self discovery where he is told of the murder of King Laius. Oblivious of his own destruction, Oedipus follows each hint to the discovery from which he promises to punish the culprit. When Oedipus accuses Tiresias of blindness, it is Oedipus who is blind because he does not consider himself as the person who might have committed the murder crime. He lacks vision and he is like a dog trying to bite its tail. The image of blindness is effective in the play because those who are blind like Tiresias who is the prophet have vision and insights to matters that those with sight like Oedipus cannot see. Oedipus is ignorantly blind although he has eyes to see. Though physically blind, Tiresias can ultimately see what Oedipus is ignorant of (741). In the epic poem Paradise Lost by Milton, the persona expresses the frustrations of the fact that he cannot see and therefore not able to sufficiently serve God. Wilkie and Hurt (1998) points out that just like play where Oedipus learns of Tiresias vision; the persona of the poem grasps the fact that he can use positively his physical impairness as part of God’s work (2099). There are different forms of poems raging from odes, elegies, sonnets, and pastorals. Ode is a lyrical poem that is a moderate piece dealing with serious subject matter. Romanticism poets utilized odes to explore problems of general and personal matter. An example of ode poem is Ode to a Nightingale by Keats that praises the famous Nightingale for the servitude to others. An elegy is a classical poem which is made up of couplets where the poem is about lamentation for loss of something or a person. The poem revolves around reflection of things that were shared in life and nostalgic remembrance of the vanished past. The main theme explored is death. An example of elegy; A memory of a sister by Thomas Hardy where the speaker nostalgically remembers his dead sister. Pastoral poem explore on leisure and some of the example is Milton’s Lycidas (842). Pastoral poem is viewed as sub-group of elegies for focus is on the subject of mourning and of love. The distinguishing factor is that they dwell on the idealized rather than focusing on the realistic aspects of life. Sonnet on the other hand is a poem that consists of fourteen lines and is of two kinds; the Petrarchan and the Elizabethan sonnets. The Petrarchan sonnet is composed of two parts; one with eight lines and the other with six while the Elizabethan sonnet entails three segments of four lines and the concluding two lines called a couplet. A Farewell to Arms by Hemingway is an example of an Elizabethan sonnet (879). In analyzing the nature and effect of the â€Å"framework tale† in the Canterbury Tales, The 1001 Nights, and the Decameron, the social life from the classical period is explored. The Canterbury Tales explores the pilgrims’ journey to gain forgiveness and blessings in travel that represents a section of the society in England then. In the epic journey, Chaucer explores the Elizabethan society infusing it with romantic scenes. Martyrs, miracles, and curses are ultimately explored in death where the journey is all about discovery among the travelers where societal virtues and morals which are imparted upon generations while vices are despised via the symbolic journey (1670). In The 1001 Nights by Al-Jahshiyari is Arabic literary works that has had influence in European literary works. Just like the Canterbury Tales, The 1001 Nights explores on religious journey of the Arabs in their quest to find more about spiritual fulfillment. Its oriental function is important for it is equated to the Elizabethan society’s journey through the classical portrayal in self-discovery (1572). The Decameron explores on the mediaeval era society where philosophical aspects emerge in the society and ultimately employs divine comedy. Literal aspects in society form part of the message explored while allegorical stories touch on Christianity. Like in classical literature where characters are literary involved in the journey of discovery, these plays have background on the journey via which the characters have to undertake learning important lessons in life (1878). The worldview is literary depicted in the Divine Comedy by Dante where by the society of the Middle Ages was explored on the theological perspective and the Renaissance’s philosophical expanse. The comedy uses the humanistic approach via which the theme of self discovery; the journey in the society towards the affirmation and redemption of the characters in the light of God. The comedy is structured in an epic poem where Christ’s life of resurrecting from death after he had suffered. Analyzing the Divine Comedy, it is paramount to not that it is not about a mythologized hero but reflection on contemporary person. Dante uses humble language in contextualizing the Christ’s message for the reader access. The poetic ingenuity is great because Dante employs his wit through the verse where meditation, dialogue, theological musing, and cosmology are explored carrying the reader through his or her reading. The comedy fits in the concept of contrapasso in the sense that it reflects on the speaker’s suffering in lack of the knowledge of redemption to eternal light. The suffering in Hell is brought out in the medieval belief and the society has to undergo the divine justice for eternal redemption of the sinners who form the society (1405). Reference Wilkie, B & Hurt, J. (1998). Literature of the Western World: The Ancient World through the Renaissance (5th Ed.). Upper Saddle River, New Jersey: Prentice-Hall Inc.