Hedge funds Essay Example for Free

Hedge funds Essay In order to better understand how hedge funds played a role in the recent crisis affecting the financial market, it is important to first understand how hedge funds work. Hedge funds are similar to mutual funds in that money is pooled from investors and then invested in selected financial instruments in order to gain a positive return. Hedge funds however are not monitored by the Securities and Exchange Commission since the securities they issue are considered as private offerings. In order to get the maximum return for their investors, hedge funds often employ strategies like investing in ventures that have high risk. One way of doing this is through derivatives. Derivatives are financial instruments that gets if values from the value of a particular underlying asset like bonds, exchange rates and commercial real estate loans. Another way that hedge funds obtain good returns is by employing the strategy of arbitrage. This is actually just exploiting the pricing inefficiencies with respect to certain related assets. A hedge fund for example can buy shares of a company from one exchange and then sell them to another which ensures profit. Aside from the strategies it implements, hedge funds typically face large risks themselves. This is because hedge funds are highly leveraged. Hedge funds borrow money that is greater than what was originally invested. It is not unusual therefore for a hedge fund to borrow $20 for every $5 that it gets from an investor. So how does all this fit in the recent crisis faced by the financial market? In order to answer that, one has to look at how subprime lending works. The basic premise of subprime lending is to provide loans to people who are not qualified to obtain them in the first place. These borrowers did not qualify due to some factors like credit history and income level, to name a few. In the past, when banks loaned money, it was the one who faced the possibility of default termed as a credit risk. Current practices in the financial market however have allowed banks to sell these mortgage payments as well as the credit risk involved to investors. This method is known as securitization. As a result, instead of having to face the credit risk alone, banks are now able to â€Å"spread† these risks to a large number of investors. The problem arose when lenders, who had initially obtained loans on the idea that they would be able to refinance them on more favorable terms, were now faced with higher interest rates. Consequently, prices of real estate dropped which lead to foreclosures and defaults. As a result, banks and other financial institutions were faced with losses leading to the financial crisis. Now as the banks continued to distribute the credit risks, these investment were considered high risk and high yield. Which of course made them lucrative for hedge funds. Thus as the risks related to these securities increased, it made them more viable to be placed with investors that had high leverage. Hedge funds became a likely source of investors since being unregulated, they had no need for capital requirements. Thus when these funds were unable to sell the subprime mortagages, especially since they were hoping to only hold it for a short time, they went out of business which actually contributed to the crisis. To get a better picture, let us look at two strategies employed by hedge funds already mentioned earlier. First is derivatives, particularly credit default swaps. Credit default swaps, or CDS as they are often called, are insurance contracts that are used to protect bondholders in the likelihood of default. CDS are considered as two-party contracts since a company that incurs a loss will be able to gain a profit somewhere else ensuring that there is no actual loss. Recent market practices however have allowed CDS to be used either speculatively or even as insurance to a specific credit risk. The problem thus arose when there was uncertainty as to who would pay for these losses. Such was the case with Lehman Brothers. Hedge funds, which are highly leveraged to start with, put investments in Lehman. It is possible that due to these investments, Lehman was also able to invest in CDS. When Lehman was unable to sell its CDS, it was eventually forced to file for bankruptcy. Another practice of hedge funds that could have contributed to the crisis is securitization. The market practice of allowing securitization also allowed the banks to put the debt that is associated with these same securities into SIVs or structured investment vehicles. SIVs are considered as entities that are in off-balance sheets. Because of these status, the increase in risk meant and increase in yield. Hedge funds therefore were drawn to these since by not being in the books, the requirement for capital reserve was circumvented. Former Federal Reserve Chairman Alan Greenspan is even quoted to have said that it was the securitization and not the loan that was the cause of the crisis. While we can conclude that hedge funds contributed to the current financial crisis, they are not the sole factor and possibly not the originator. Hedge funds by themselves also have positive impacts on the market. Because of their strategy of having arbitrage, they are actually helping reduce or even eliminate the mispricing that is currently prevalent in the markets. Despite being highly leveraged, hedge funds can actually provide the needed liquidity for companies. This was seen when the hedge fund Cerberus bought the ailing Chrysler company allowing for jobs to be saved. The practice of hedge funds investing in high risk investment have become a good source of risk transfer as well as diversification. While the crisis may not signal the end of hedge funds, only time will tell if they are truly a help to the market or a mistake. References: U. S. Securities and Exchange Commission. Hedging Your Bets: A Heads Up on Hedge Funds and Funds of Hedge Funds. Retrieved November 8, 2008, from http://www. sec. gov/answers/hedge. htm Research RECAP. (2007, December 21). Role of Hedge Funds in Subprime Crisis Examined. Retrieved November 8, 2008, from http://www. researchrecap. com/index. php/2007/12/21/role-of-hedge-funds-in-subprime-crisis-examined/ Federal Reserve Bank of New York. (2004, November 17). Hedge Funds and Their Implications for the Financial System. Retrieved November 8, 2008, from http://www. ny. frb. org/newsevents/speeches/2004/gei041117. html/

Evaluating Life Cycle of Pavements

Evaluating Life Cycle of Pavements Case Study from Nevada Department of Transportations Perspective Nowadays increasing number of agencies and companies have started to shift to the principles of sustainability in conducting business and activities. These principles also make good business sense as we try to improve the environmental, social and economic value of a product. The transportation industry is no different and many Departments of Transportation (DOTs) have already shifted to this by incorporating Life Cycle Analysis of pavements. Life cycle analysis of pavements is a comprehensive approach where economic costs of different alternatives during the life of a pavement are evaluated and the best one is chosen to be implemented. It is a complex process and varies from one DOT to another but usually there are some guidelines laid down by the Federal Highway Administration that are followed. For our case study, we have selected the Nevada Department of Transportation, also known as NDOT. This report presents a brief overview of the various components and strategies used in pavement analysis, maintenance and rehabilitation are discussed in detail. NDOT has a defined Pavement Management System to collect data and the application of LCA for construction of pavements has already been started. The various parameters considered in LCA as well as the limitations are discussed in this report. Keywords: Pavement, Life Cycle Analysis, NDOT, Maintenance, Rehabilitation Pavements, like any other thing, have a definite life cycle. They are constructed by keeping a certain period of utility in mind. The continuous use of roadways often leads to their degradation in their serviceability. The rate of this deterioration is dependent on many factors both environmental and load related. Using appropriate maintenance and rehabilitation techniques at the right time also can impact the life of a pavement drastically. The life cycle of pavements can be very broadly described as Stage 1: New Pavement Newly constructed pavements fall into this category. They require almost no repairs while in use. Stage 2: Minor Repairs After some initial time, the utility of the roads begins to decrease. Some maintenance work is favored. Stage 3: Major Repairs After long time in service the roads become deficient structurally and continuous use of roads in this state is not recommended. Stage 4: Complete Reconstruction Roads in this state of disarray are not be used except under extreme circumstances and require a complete overhaul and construction of new pavements. However, some agencies have been lagging in their effort to properly preserve their roadways. This has led to one third of the roads in United States being in poor or weak condition. Annually an estimated of 70 billion dollars to maintain the highway network in USA. This considerable sum has led people to try and manage pavements more efficiently. Constant evaluation of pavements has been adopted by many state DOTs to try and limit pavement deterioration once it is in use. There are two major categories for repairs of pavements in general terms are Maintenance Rehabilitation Maintenance is the process of repair of roads is done on a small scale as the pavements contain only minor faults and are fixed relatively easily. Some common maintenance techniques include fog seals and crack sealing and mainly slow down the deterioration rate of the pavements [1]. Rehabilitation is the procedure where existing portions of damaged pavements are completely redone as the damage is of significance. Rehabilitation techniques include in-place recycling and overlays and reset the whole process of deterioration [1]. The cost of either maintenance or rehabilitation of pavement is substantive and continuous to rise even today. This has lead highway agencies to use tools that can help combine economics and operations research to achieve pavements that are both cost effective without compromising their long-term properties. The most common method in use is the Life Cycle Cost Analysis or the LCCA [2]. It is a process where the value of the total project is calculated using the initial cost and discounted future costs over the life of the pavement. The components of LCCA is defined by different DOTs independently. For this report the case of Nevada DOT is chosen and LCCA used by NDOT will be explained later. The Nevada DOT was founded in 1917 and has since built and maintained almost 5,400 miles of road. There is an additional of more than 46,000 miles of public road mostly maintained by local agencies. The roads maintained by NDOT account only for 20% of roads in Nevada but these roads account for 52% of all traffic and 82% of heavy truck traffic of the state [3]. In the fiscal years of 2013 and 2014, NDOT spend around 270 million dollars on maintenance rehabilitation repair works. As one can infer from the figures the process of maintaining the roadways is costly and therefore NDOT uses various tools that can help to minimize this cost in the long run. Some of these tools are discussed in this report. Connecting the empirical data collected from the field and theoretical data calculated by an engineer in the lab has been one of the most difficult task in pavement engineering. Long term pavement performance has gained importance as it is a major component of any cost analyses that is conducted on the pavements. Therefore, predicting long term performance of pavements with good accuracy can provide valuable data for pavement modeling. Field data collected from various sites can also be used to verify whether the materials possesses required qualities or the design was sufficient. This can in their turn help in altering future pavement designs to better perform in the field. This has led to the creation of a Pavement Management System by pavement engineers. Data collected from various sites in the field is collected in the PMS and stored for further analysis by engineers. This collected data can be utilized to develop and verify pavement performance models The PMS used by NDOT was established in 1980 and is accordance with ISTEA guidelines. It monitors various pavement characteristics with time on a mile-by-mile basis for the entire NDOT system. The data collected includes cracking, rut depth, patching, surface condition, and ride with data on traffic and accidents are collected for informational purposes only. Using the data collected from the field seven performance indicators are calculated to classify pavements into four repair categories. The performance indicators calculated are Ride Rut Depth Cracking Patching Bleeding Raveling Present Serviceability Index (PSI) The PSI used by NDOT is calculated by the following formula PSI = 5*e-0.0041*IRI 1.38RD2 0.01(C+P)0.5 Where IRI = International Roughness Index (in/mile) RD = Rut Depth (in) C = Cracking Area (ft2/1000 ft2) P = Patching Area (ft2/1000 ft2) For the considered pavement points are assigned for the severity and extent of each of the distress indicators. The total summation of the points is used to assign the pavement into one of four repair categories which are Do Nothing Maintenance Overlay Reconstruction For details refer to Development of Pavement Performance, Analyses and Procedures [4]. The PSI of pavements is kept in check by performing routine maintenance and rehabilitation activities. As explained maintenance as a process only slows down the rate of deterioration while on the other hand rehabilitation will show an initial change in PSI and may also change the rate of deterioration of pavement. Generally, one observes that the cost of maintenance of pavement tends to be lower than the cost of rehabilitation. Therefore, if one has to be cost effective there needs to be a balance between the maintenance and rehabilitation of pavements. That is using only one type of repair work will be more economically inefficient. NDOT has chosen specific repair activities to catalog in the state of Nevada based on availability of previous data. If a technique was chosen without sufficient performance data, then the model would be of limited use only. The techniques thus used by NDOT include Maintenance Techniques: Rehabilitation Techniques: Sand Seals, Chips Seals. Flexible Overlays, Roadbed Modification, Mill and Overlays Sand Seals Sand seal is the application of an asphalt emulsion being sprayed on with a layer of clean sand or fine aggregate being embedded in the emulsion either by spreading immediately or using a pneumatic tire roller. After application of the tire-roller excess particles are removed from the pavement. The sand seals are useful for improving the surface properties of pavements and can also help in filling up any fine cracks of pavement surface. In addition, the sand can also improve the skid resistant properties of the road while reducing the chances of raveling. [5]. Chip Seals Chip seals have become one of the most used surface treatment technique for roads with less traffic. Similar to a sand seal, a chip seal is the process of spraying asphalt and applying a layer of aggregate over it. The asphalt applied could be in form of hot asphalt cement, cutback or emulsified asphalt. After the application of any of the listed types of asphalt aggregate layer is administers onto the surface, before the asphalt either cools down or the emulsion breaks so as to maximize adhesion. The aggregates in the asphalt matrix are further seated and reoriented using a pneumatic roller. Afterwards the excess aggregates are removed from the surface by use of brooming. Chip seals are used as a protection from further raveling as well as seal any small cracks that are in the pavement. Sometimes use of lightweight aggregates is justified in chip seals in cases where heavier aggregates might become a cause for windshield cracking. LWA are manufactured mainly from light minerals like shale, slate or clay and are usually more expensive and less durable than normal aggregates but these are much lighter in weight. This light weight prevents these aggregates from being able to crack windshields in the case they become projectiles. The cracking of windshields can also be prevented by use of polymer modified emulsion [5]. Flexible Overlays Flexible overlay is a method of rehabilitation wherein on top of the old structure a new intermediate layer is constructed. The major purpose of this new layer is to both add an additional structure to the pavement and to prevent the proliferation of reflective cracks from the structure underneath. The old structure can still provide a uniform support. The design and planning of the overlay should be done keeping into consideration the expected traffic loading that the pavement will be under. As such this technique usually causes an increase in the highway profile. Care also has to be taken to prevent moisture from getting between the overlay and old structure. To prevent this the materials uses in the overlay should be tested for both moisture susceptibility and durability [6]. Roadbed Modification Asphalt roads are also reclaimed using roadbed modification. This technique is usually applied to pavements where the PSI has fallen way below desired level. Pulverization of existing pavement is done to a depth depending upon the structure of the old pavement. The pulverization process sometimes also includes base materials sometimes if the depth of pulverization is greater than the bituminous layer. On the other hand, if the depth is lower than that of existing structure then use of cold milling can be beneficial as this will lead to minimal disturbance to the materials underneath. The materials pulverized is then mixed with cement and water, where it acts basically as aggregates. This concrete is spread out and compacted according to the design intended. Pavements with very weak or uneven foundations can benefit from this technique [7]. Mill and Overlays The mill and overlay method is a method of rehabilitation where the top surface of the damaged pavement is removed, usually up to 2 inches. This removal is done by the use of a milling machine capable to perform the task. The removal of the top layer comprises of the milling portion of the method and usually takes around a couple of days. Afterwards a new layer of bituminous layer is constructed on top of the structure, in place of the removed surface. The surface of the milled pavement is coated with liquid asphalt that acts as a tack coat between the old structure and the new bituminous layer. The construction of the overlay can take around one to two days depending upon the width of pavement and the traffic. The asphalt overlay to be placed on pavement is usually embedded to a depth of 1ÂÂ ½ using a paver [8]. When developing NDOTs pavement performance model three categories of data were considered Structural, Environmental and PMS. A list of factors from these categories was created that could possibly affect pavement performance was compiled into standard data collection form. Analyzing all the standardized data the following data sets were finally used when developing the model- Materials data of activity being modeled: These data include the types and percentages of asphalt binder and aggregates used in the maintenance or rehabilitation activity for which the performance model is being developed. Materials data of existing pavement layers: These data include the types and percentages of asphalt binder and aggregates used in the layers underlaying the maintenance or rehabilitation activity for which the performance model is being developed. Structural data: These data include the thickness of the various layers in the pavement structure including the thickness of the maintenance or rehabilitation activity that is being modeled. The structural number (SN) as defined by the AASHTO design guide was used to normalize the structural data among all of the pavement section. Reference 3 describes the method used to convert the layer thicknesses into SN values. Pavement performance data: These data include the PSI, percent cracking, and average rut depth values as obtained from the NDOT PMS data base. Traffic data: The equivalent single axle load (ESAL) was used as the traffic element. The average daily ESAL figures were obtained from the PMS data base and used to obtain the cumulative ESALs over the life of the maintenance or rehabilitation activity. Environmental data: These data include maximum and minimum temperatures, number of freeze/thaw cycles, number of wet days, and annual precipitation. LCCA is a tool that is used by NDOT to evaluate the economic assessment of pavements when considering the entirety of its useful life. It takes into consideration the initial costs as well as maintenance and repair cost that the pavement is likely to undergo in its life. This tool can be used by pavement engineers to optimize their budget to improve the overall useful life of the pavement. Different alternatives for repairs are considered and the one with the most utility or least cost is chosen to be put forward for consideration. LCCA is made from the following steps- All initial treatment alternatives must be identified For each alternative, their analysis period as well as treatment scheme should be determined The price of annual and each alternatives maintenance should be computed The economic assessment calculated for each alternative should be compared The alternative with the best economic assessment should be selected based on LCCA When performing LCCA, NDOT uses the AASHTO prescribed Present Worth method. This method is highly recommended and frequently used by state highway agencies. In this method, any future expense is converted to present value of the dollar. The present value of future expenses is the amount of money which will need to be invested at a particular compound interest rate for the total sum to be equal to the value of the future expense. The formula used in calculation is PW = F(1/(1+i) n) Where F = The future expense after n years i = Discount rate n = Number of years Since the costs of production keeps on changing with time due to inflation and other economic factors, a discount rate is chosen to compare the cost across all time periods. LCCA is performed on the pavement for a specific analyses period. The length of this analyses period has been calculated for various types of roads keeping important factors into consideration. Highway Class Analysis Period (Years) High Volume Urban 30 50 High Volume Rural 20 50 Low Volume Paved 15 25 Low Volume Aggregate Surface 10 20 For newly constructed flexible pavements NDOT recommends an analysis period of 25-40 years while for rehabilitation they recommended a period of 20 years. This data is derived from two major conditions, (a) It represents a realistic life of asphalt mixtures and (b) one or two rehabilitation periods are included in the period. Pavements have a defined life cycle. Regular repair work must be done during the useful life of a pavement to maintain it to a serviceable level. NDOT uses PSI as an indicator to determine the serviceability level of pavement. PSI can range from 0 to 5.0 and repair is done on a pavement when the PSI drops below an unacceptable level. NDOT uses 2.5 as the terminal level of PSI with roads having average daily traffic of more than 750. NDOT also has placed some reality checks in place for calculating the pavement performance period. They are not considered in when in performance models because they can act as an empirical check to the values obtained from theoretical models. These checks include data such as traffic accidents, high maintenance costs, specific site failures, etc. LCAA also include cost factors that encompass all the expenditure that is incurred by the pavement from the design phase till the end of its useful life cycle. These costs have to be properly compared for different alternatives in LCCA to arrive at the most economic pavement. These costs can include First Costs: These include both the expenditure for the initial construction of the pavement and the cost for the operations that occurred to facilitate the construction like surveys, designs and analyses. Annual Maintenance Costs: These include the expenditure that is use to maintain an optimum PSI level of the pavement so as to provide a smooth ride to the drivers. Road User Costs: These are the costs that are associated with driving on the road and include things like increase in travel time, accidents, change in fuel consumption by vehicle etc. Salvage Value: This is the value of the road at the end of its life cycle. These casts can be either positive or negative depending on the condition of the road. 1. Pavement Interactive 2. Evaluation of pavement life cycle cost analysis: Review and analysis 3. State Highway Preservation Report 4. Development of Pavement Performance, Analyses and Procedures 5. https://www.fs.fed.us/eng/pubs/html/99771201/99771201.htm 6.http://onlinemanuals.txdot.gov/txdotmanuals/pdm/flexible_base_overlay_and_flexible_base_thickening.htm 7. https://www.nevadadot.com/uploadedFiles/NDOT/About_NDOT/NDOT_Divisions/Operations/Construction/CM%20Section%206%20-%20300.pdf 8. https://www.stpaul.gov/departments/public-works/street-maintenance/mill-overlay

Meaning Of Mobile Banking Information Technology Essay

Meaning Of Mobile Banking Information Technology Essay The internet and the mobile phone, the two technological advancements that have profoundly affected human behavior in the last decade have started to converge. Using a variety of platforms, services are being created to enable mobile devices to perform many activities of the traditional internet in a reduced format for mobile devices. One such area of activity is mobile banking. A cluster of dedicated and demanding mobile phone users (consumers) have multiplied tremendously over the years, who expect real-time information and access and high levels of service. This article looks at how and why banking customers have began to take advantage of mobile services for their banking requirements and why some of them are still hesitant to adopt mobile banking. Also this article throws light on some of the eminent challenges faced by the mobile banking service providers, which can be seen as opportunities for the financial institutions and the bankers. Introduction: Recently, the demands and requirements of banking consumers are altering quickly with the rise in the technological avenues made available in the banking world. Banking Customers have started demanding flawless, multi-channel service experiences. The result is forcing banks and financial institutions to facilitate them with the latest business models and banking solutions. With the increase in the customer demands and expectations, it has became necessary for the banks and Financial Institutions to update and transform their retail distribution channel for banking services from a branch banking-dominated model to a multi-channeled service model. Mobile banking is one such channel through which ample business is getting generated for Banks. Meaning of Mobile Banking In a laymans context, the term Mobile Banking means; Execution of Banking and Financial transactions using a Mobile phone or Availing banking services through a medium of cellular phone, without visiting the banks branch SMSs sent by bank on withdrawal and deposit transactions, credit card and ATM card usage notifications sent by bank, a call received from customer care department of the bank for critical transaction requests, Bill payments made from the bank balances through cell phone, transfer of money from one account to another using cell phone, etc. are all examples of Mobile Banking transactions. Also it is the primary responsibility of the Banks (Mobile banking facilitators) to ensure that all the Mobile banking transactions are secured and performed on a real time basis. Behavioral intentions of consumers for using mobile banking services Consumers will generally prefer using Mobile Banking over the traditional Branch banking for the following reasons: Mobile phone has already evolved as a familiar device in majority of middle class house holds Mobile Phone is always handy Sufficient guidance is available in using mobile phone for banking Mobile Phone enables fast and effortless banking transactions Service quality provided by banks, for Mobile Banking transactions is acceptable one Consumers are generally hesitant using Mobile Banking services for the following reasons: Mobile banking services cannot be used practically, due to expensive phone bills Data transmission rate is too slow while carrying out Mobile Banking transactions Mobile phone is found complicated in use due to Poor user interface Users have faced disappointment due to Malfunction of services and lack of operating instructions by Banks Challenges Faced by Banks and Financial institutions in facilitating Mobile Banking Transactions à ¢Ã¢â€š ¬Ã‚ ¢ Security of financial transactions, fraud and identity theft issues are getting increased importance, as the mobile banking users need to be safeguarded against such malpractices. à ¢Ã¢â€š ¬Ã‚ ¢ Compliance issues are now being examined by governmental agencies, which include anti-money laundering compliance issues for banks, because cell phones, particularly those using prepaid accounts, (having few checks on the identity of the user) are popularly used by money launderers to transfer funds quickly, inexpensively, and anonymously. à ¢Ã¢â€š ¬Ã‚ ¢ There are no common technology standards for mobile banking. Various kinds of Client-based and Server based technologies are used, so there are Interoperability issues. A mobile banking solution usually is client specific and cannot have connectivity with multiple banks and hence becomes inconvenient for a user with multiple accounts. Also there are different kinds of mobile phone devices and it is a big challenge for banks to offer mobile banking solution for a particular type of device. à ¢Ã¢â€š ¬Ã‚ ¢ The Service offerings range from simple complex transactions like checking account balances, bill payments, alerts, loan statements etc to complex transactions like electronic wallet, forex payments, mobile financial advisor etc. making it difficult for a technology solution provider to deliver on all parameters. à ¢Ã¢â€š ¬Ã‚ ¢ Again a same mobile solution may not work in every market, it should be market specific solution, and different markets should be understood properly. In developed markets, being an innovator is very likely to be a failure and also expensive. à ¢Ã¢â€š ¬Ã‚ ¢ Some consumers also have barriers in mobile banking adoption due to lack of awareness and understanding of the benefits provided by mobile banking. Therefore overcoming the perception of consumer risks and increasing the computer and technological skills literacy among the mobile phone user stands as a challenge for the banks Recommendation The usage of Mobile Devices for Financial and Banking transactions could be made more effective by controlling mobile banking transactions by voice instead of opting for long typed sentences on the mobile devices. Conclusion Mobile banking has already evolved as a powerful intermediate towards efficient and real-time banking service. The Banks and the mobile banking service providers are working their way towards increasing consumer acceptance with mobile devices to carry out their banking transactions. The mobile banking service providers are teaming up with mobile banking technology vendors for consistently improving technology solutions that focus on creating a better consumer friendly experience with mobile banking. These technology advances will further increase consumer acceptance and ease with mobile devices The principal value to consumers has always been time and location service fulfillment and this need will be further enriched enabled through the mobile channel. Mobile banking in the future will not be just about receiving SMS and transferring funds; but will evolve into a mobile wallet concept, thus opening up a gamut of opportunities for companies in the BFSI domain to tap potential customers. And this is how mobile banking is raging to improve the customer service relationships as Advancement towards Consumer Value Creation

Searching in Schools Essay examples -- Education Students Search Illeg

Searching in Schools The U.S. Supreme Court and state courts have very gently both bestowed and limited Fourth Amendment rights upon public school students in a series of cases over several decades. Recent cases may indicate that the delicate balance between student rights and school safety procedures is strongly leaning towards the rights of school authorities to actively isolate and reduce perceived causes of school violence. Starting in 1968 and culminating in 1984, the law of the land concerning the status of students compared to school authorities shifted to a more constitutional basis. Prior to that time, student rights in school were defined by the common law doctrine of in loco parentis, which for centuries posited that school officials were given the right, duty, and responsibility to act in the place of a parent. Their right to act included the power to search students for illegal items, or for items merely considered to be prohibited under state or local law or school district policies, withou t the warrant or probable cause conditions mandated for all other citizens under the Fourth Amendment. State laws, as upheld by their state courts, permitted such school action when, for example, student searches were deemed to be in the best educational interests of all the students. Any search based upon the much lower and non-constitutional standard of right problem was found to be in accord with the doctrine of in loco parentis; it was accepted by the courts as necessary and reasonable in light of public necessity to maintain school discipline and order and the longstanding social concept of the parental powers of school authorities. The searching of students produces a sense of security and safety in schools. Student ... ...ice-type school violence prevention strategies. Law-related education is a fresh approach to reducing the causes of school violence early and continually throughout a students education. It is a generic, interdisciplinary direction to education combining particular kinds of content related to rules, laws, and legal systems with active instruction, flexible to any grade level and intended to continue through all grade level. Its aim is strictly to instill non-aggressive social problem-solving abilities, while also helping students become good citizens. Its method is to integrate into all curricula illustrations of common, student-relevant issues in the context of legal rights and responsibilities. Bibliography: Brownfield, Currie, Margid, McKelvey, Norris, Wade. Rights & Privileges Opposing View Points Green haven Press Inc. San Diego, CA 1990

Analysis of The Complete English Tradesman :: Complete English Tradesman Essays

Analysis of The Complete English Tradesman Daniel Defoe's "The Complete English Tradesman", is a good example of his non-fiction writing. The content in the writing is thorough and well presented by Defoe. In the writing, Defoe explains what his opinions on what it means to be an English tradesman. Contrary to some experienced tradesmen, he believes that to be a good tradesman, one needs to acquaint himself with all business in general. According to Defoe, application is of more importance than diligence in business. "Without application nothing in this world goes forward as it should.." Tradesmen of Defoe's day said that there needs to be an aggressive passion in how one handles business, and anger and temper sometimes are necessary. Defoe also challenges this. He believes a "complete tradesman" should not show the least return, signal of disgust, no passions or fire in his temper. A complete tradesman should be soft and smooth, showing little emotion. Basically, Defoe explains how to be by his definition a complete tradesma n. "When a tradesman has thus conquered all his passion, and can stand before the storm of impertinence, he is said to be fitted up for the main article, namely, the inside of the counter." The content of the writing is very comprehensive, covering many aspects of being a tradesman. The content that has already been praised, is presented very well. Defoe organizes the information into letters to all tradesman of England. The writing is a collection of letters to English tradesman, each addressing a different issue. Defoe makes it clear that the information is based on opinion, so there are no false leads. For example, "It its the judgment of some experienced tradesman that no man ought to go form one business to another... I, myself will not enter that dispute here. I know some very encouraging..." Defoe also provides examples by making a story using a script format. "Lady. No I can't he'd use me. Cit. How does your ladship know? Lady. Why, I know...." Defoe uses different techniques and ideas to present the content well in this piece. In Daniel Defoe's "The Complete Tradesman", the description usage is adequate, but in a few cases it is a little too much. There is enough description to explain the whole situation, but it is not overdone to tire the reader.

Fool Chapter 12

TWELVE A KING'S ROAD Having set the course of events in motion, I wonder now if my training to be a nun, and my polished skills at telling jokes, juggling, and singing songs fully qualify me to start a war. I have so often been the instrument of the whims of others, not even a pawn at court, merely an accoutrement to the king or his daughters. An amusing ornament. A tiny reminder of conscience and humanity, tempered with enough humor so it can be dismissed, laughed off, ignored. Perhaps there is a reason that there is no fool piece on the chessboard. What action, a fool? What strategy, a fool? What use, a fool? Ah, but a fool resides in a deck of cards, a joker, sometimes two. Of no worth, of course. No real purpose. The appearance of a trump, but none of the power. Simply an instrument of chance. Only a dealer may give value to the joker. Make him wild, make him trump. Is the dealer Fate? God? The king? A ghost? Witches? The anchoress spoke of the cards in the tarot, forbidden and pagan as they were. We had no cards, but she would describe them for me, and I drew their images on the stones of the antechamber in charcoal. â€Å"The fool's number is zero,† she said, â€Å"but that's because he represents the infinite possibility of all things. He may become anything. See, he carries all of his possessions in a bundle on his back. He is ready for anything, to go anywhere, to become whatever he needs to be. Don't count out the fool, Pocket, simply because his number is zero.† Did she know where I was heading, or do her words only have meaning to me now, as I, the zero, the nothing, seek to move nations? War? I couldn't see the appeal. Drunk, and dire of mood one night, Lear mused of war when I suggested that what he needed to cast off his dark aspect was a good wenching. â€Å"Oh, Pocket, I am too old, and the joy of a fuck withers with my limbs. Only a good killing can still boil lust in my blood. And one will not do, either. Kill me a hundred, a thousand, ten thousand on my command – rivers of blood running through the fields – that's what pumps fire into a man's lance.† â€Å"Oh,† said I. â€Å"I was going to fetch Shanker Mary for you from the laundry, but ten thousand dead and rivers of blood might be a bit beyond her talents, majesty.† â€Å"No, thank you, good Pocket, I shall sit and slide slowly and sadly into oblivion.† â€Å"Or,† said I, â€Å"I could put a bucket on Drool's head and beat him with a sack of beets until the floor is splattered crimson while Shanker Mary gives you a proper tug to accentuate the gore.† â€Å"No, fool, there is no pretending to war.† â€Å"What's Wales doing, majesty? We could invade the Welsh, perpetrate enough slaughter to raise your spirits, and have you back for tea and toast.† â€Å"Wales is ours now, lad.† â€Å"Oh bugger. What's your feeling on attacking North Kensington, then?† â€Å"Kensington's not a mile away. Practically in our own bailey.† â€Å"Aye, nuncle, that's the beauty of it, they'd never see it coming. Like a hot blade through butter, we'd be. We could hear the widows and orphans wailing from the castle walls – like a horny lullaby for you.† â€Å"I should think not. I'm not attacking neighborhoods of London to amuse myself, Pocket. What kind of tyrant do you think me?† â€Å"Oh, above average, sire. Well above bloody average.† â€Å"I'll have you speak no more of war, fool. You've too sweet a nature for such dastardly pursuits.† Too sweet? Moi? Methinks the art of war was made for fools, and fools for war. Kensington trembled that night. On the road to Gloucester I let my anger wane and tried to comfort the old king as best I could by lending him a sympathetic ear and a gentle word when he needed it. â€Å"You simple, sniveling old toss-beast! What did you expect to happen when you put the care of your half-rotted carcass in the talons of that carrion bird of a daughter?† (I may have had some residual anger.) â€Å"But I gave her half my kingdom.† â€Å"And she gave you half the truth in return, when she told you she loved you all.† The old man hung his head and his white hair fell in his face. We sat on stones by the fire. A tent was set in the wood nearby for the king's comfort, as there was no manor house in this northern county for him to take refuge. The rest of us would sleep outside in the cold. â€Å"Wait, fool, until we are under the roof of my second daughter,† said Lear. â€Å"Regan was always the sweet one, she will not be so shabby in her gratitude.† I had no heart to chide the old man any more. Expecting kindness from Regan was hope sung in the key of madness. Always the sweet one? Regan? I think not. My second week in the castle I found young Regan and Goneril in one of the king's solars, teasing little Cordelia, passing a kitten the little one had taken a fancy to over her head, taunting her. â€Å"Oh, come get the kitty,† said Regan. â€Å"Be careful, lest it fly out the window.† Regan pretended she might throw the terrified little cat out the window, and as Cordelia ran, arms stretched out to grab the kitten, Regan reeled and tossed the kitten to Goneril, who swung the kitten toward another window. â€Å"Oh, look, Cordy, she'll be drowned in the moat, just like your traitor mother,† said Goneril. â€Å"Nooooooo!† wailed Cordelia. She was nearly breathless from running sister to sister after the kitten. I stood in the doorway, stunned at their cruelty. The chamberlain had told me that Cordelia's mother, Lear's third queen, had been accused of treason and banished three years before. No one knew exactly the circumstances of the crime, but there were rumors that she had been practicing the old religion, others that she had committed adultery. All the chamberlain knew for sure was that the queen had been taken from the tower in the dead of night, and from that time until my arrival at the castle, Cordelia had not uttered a coherent syllable. â€Å"Drowned as a witch, she was,† said Regan, snatching the kitten out of the air. But this time the little kitten's claws found royal flesh. â€Å"Ow! You little shit!† Regan tossed the kitten out the window. Cordelia loosed an ear-shattering scream. Without thinking I dived through the window after the cat and caught the braided cord with my feet as I flew through. I caught the kitten about five feet below the window as the cord burned between my ankles. Not having thought the move completely through, I hadn't counted on how to catch myself, kitten in hand, when the cord slammed me into the tower wall. The cord tightened around my right ankle. I took the impact on that shoulder and bounced while I watched my coxcomb flutter like a wounded bird to the moat below. I tucked the kitten into my doublet, then climbed back up the cord and in through the window. â€Å"Lovely day for a constitutional, don't you think, ladies?† The three of them all stood with their mouths hanging open, the older sisters had backed against the walls of the solar. â€Å"You lot look like you could use some air,† said I. I took the kitten from my doublet and held it out to Cordelia. â€Å"Kitty's had quite an adventure. Perhaps you should take her to her mum for a nap.† Cordelia took the kitten from me and ran out of the room. â€Å"We can have you beheaded, fool,† said Regan, shaking off her shock. â€Å"Anytime we want,† said Goneril, with less conviction than her sister. â€Å"Shall I send in a maid to tie back the tapestry, mum?† I asked, with a grand wave to the tapestry I'd loosed from the wall when I leapt. â€Å"Uh, yes, do that,† commanded Regan. â€Å"This instant!† â€Å"This instant,† barked Goneril. â€Å"Right away, mum.† And with a grin and a bow, I was gone from the room. I made my way down the spiral stairs clinging to the wall, lest my heart give out and send me tumbling. Cordelia stood at the bottom of the stairs, cradling the kitten, looking up at me as if I were Jesus, Zeus, and St. George all back from a smashing day of dragon slaying. Her eyes were unnaturally wide and she appeared to have stopped breathing. Bloody awe, I suppose. â€Å"Stop staring like that, lamb, it's disturbing. People will think you've a chicken bone caught in your throat.† â€Å"Thank you,† she said, with a great, shoulder-shaking sob. I patted her head. â€Å"You're welcome, love. Now run along, Pocket has to fish his hat from the moat and then go to the kitchen and drink until his hands stop shaking or he drowns in his own sick, whichever comes first.† She backed away to let me pass, never taking her eyes from mine. It had been thus since the night I arrived at the tower – when her mind first crept out from whatever dark place it had been living before my arrival – those wide, crystal-blue eyes looking at me with unblinking wonder. The child could be right creepy. â€Å"Do not make yourself a maid to surprise, nuncle,† said I. I held the reins of my and the king's horse as they drank from an ice-laced stream some hundred miles north of Gloucester. â€Å"Regan is a treasure to be sure, but she may have the same mind as her sister. Although they will deny it, it's often been the case.† â€Å"I cannot think it so,† said the king. â€Å"Regan will receive us with open arms.† There was a racket behind us and the king turned. â€Å"Ah, what is this?† A gaily painted wagon was coming out of the wood toward us. Several of the knights reached for swords or lances. Captain Curan waved for them to stand at ease. â€Å"Mummers, sire,† said the Captain. â€Å"Aye,† said Lear, â€Å"I forgot, the Yule is nearly on us. They'll be going to Gloucester as well, I'll wager, to play for the Yule feast. Pocket, go tell them that we grant them safe passage and they may follow our train under our protection.† The wagon creaked to a stop. Happening upon a train of fifty knights and attendants in the countryside would put any performer on guard. The man driving the wagon stood at the reins and waved. He wore a grand purple hat with a white plume in it. I leapt the narrow stream, and made my way up the road. When the driver saw my motley he smiled. I, too, smiled, in relief – this was not the cruel master from my own days as a mummer. â€Å"Hail, fool, what finds you so far from court and castle?† â€Å"I carry my court with me and my castle lies ahead, sirrah.† â€Å"Carry your court? Then that white-haired old man is – â€Å" â€Å"Aye, King Lear himself.† â€Å"Then you are the famous Black Fool.† â€Å"At your bloody service,† said I, with a bow. â€Å"You're smaller than in the stories,† said the big-hatted weasel. â€Å"Aye, and your hat is an ocean in which your wit wanders like a lost plague ship.† The mummer laughed. â€Å"You give me more than my due, sirrah. We trade not in wit like you, wily fool. We are thespians!† With that, three young men and a girl stepped out from behind the wagon and bowed gracefully and with far too much flourish than was called for. â€Å"Thesbians,† said they, in chorus. I tipped my coxcomb. â€Å"Well, I enjoy a lick of the lily from time to time myself,† said I, â€Å"but it's hardly something you want to paint on the side of a wagon.† â€Å"Not lesbians,† said the girl, â€Å"thesbians. We are actors.† â€Å"Oh,† said I. â€Å"That's different.† â€Å"Aye,† said big hat. â€Å"We've no need of wit – the play's the thing, you see. Not a word passes our lips that hasn't been chewed thrice and spat out by a scribe.† â€Å"Unburdened by originality are we,† said an actor in a red waistcoat. The girl said, â€Å"Although we do bear the cross of fabulously shiny hair – â€Å" â€Å"Blank slates, we are,† said another of the actors. â€Å"We are mere appendages of the pen, so to speak,† said big hat. â€Å"Yeah, you're a bloody appendage, all right,† I said under my breath. â€Å"Well, actors then. Smashing. The king has bade me tell you that he grants you safe passage to Gloucester and offers his protection.† â€Å"Oh my,† said big hat. â€Å"We are only going as far as Birmingham, but I suppose we could double back from Gloucester if his majesty wishes us to perform.† â€Å"No,† said I. â€Å"Please, do pass through and on to Birmingham. The king would never impede the progress of artists.† â€Å"You're certain?† said big hat. â€Å"We've been rehearsing a classic from antiquity, Green Eggs and Hamlet, the story of a young prince of Denmark who goes mad, drowns his girlfriend, and in his remorse, forces spoiled breakfast on all whom he meets. It was pieced together from fragments of an ancient Merican manuscript.† â€Å"No,† said I. â€Å"I think it will be too esoteric for the king. He is old and nods off during long performances.† â€Å"Shame,† said big hat. â€Å"A moving piece. Let me do a selection for you. ‘Green eggs, or not green eggs? That is the question. Whether 'tis nobler in the mind to eat them in a box, with a fox – ‘† â€Å"Stop!† said I. â€Å"Go now, and quickly. War has come to the land and rumor has it that as soon as they've finished with the lawyers, they're going to kill all the actors.† â€Å"Really?† â€Å"Aye,† I nodded most sincerely. â€Å"Quick, on to Birmingham, before you are slaughtered.† â€Å"Everyone jump on,† said big hat, and the actors did as directed. â€Å"Fare thee well, fool!† Then he snapped the reins and drove off, the wagon's wheels bouncing in the ruts of the road. Lear's train parted and watched as the team pulled the wagon by at a gallop. â€Å"What was that?† asked Lear when I returned. â€Å"Wagonload of knobs,† said I. â€Å"Why do they hurry, so?† â€Å"We commanded it so, nuncle. Half their troupe is ill with fever. We want them nowhere near your men.† â€Å"Oh, good show, then, lad. I thought you might be missing the life and were going to join their troupe.† I shuddered at the thought. It had been a cold December day like this when I'd first come to the White Tower with my mummer troupe. We were decidedly not thespians, but singers, jugglers, and acrobats, and I a special asset because I could do all three. Our master was a crooked Belgian named Belette, who bought me from Mother Basil for ten shillings and the promise to feed me. He spoke Dutch, French, and a very broken English, so I don't know how he managed to secure the White Tower for a performance that Christmas, but I was told later that the troupe that was supposed to have performed had suddenly taken ill with stomach cramps and I suspect that Belette poisoned them. I had been with Belette for months, and except for the beatings and cold nights sleeping under a wagon, I had received little but my daily bread, the occasional cup of wine, and the skills of knife-throwing and sleight of hand as it could be applied to purse cutting. We were led into the great hall at the tower, which was filled with nobles reveling and feasting on platters of food such as I had never seen. King Lear sat at the center of the main table, flanked by two beautiful girls about my age, who I would later find out were Regan and Goneril. Beside Regan sat Gloucester, his wife, and their son Edgar. The intrepid Kent sat on the other side next to Goneril. Under that table, at Lear's feet, a little girl was curled up, watching the celebration – wide-eyed, like a frightened animal, clinging to a rag doll. I must confess, I thought the child might be deaf or even simpleminded. We performed for perhaps two hours, singing songs of the saints during dinner, then moving on to bawdier fare as the wine flowed and the guests loosened their hold on propriety. By late in the evening everyone was laughing, the guests were dancing with the performers, and even the commoners who lived in the castle had joined the party, but the little girl remained under the table, making not a sound. Not a smile, not an eyebrow raised in delight. There was light there behind those crystal-blue eyes – this was not a simpleton – but she seemed to be staring out of them from afar. I crawled under the table and sat next to her. She barely acknowledged my presence. I leaned in close and nodded toward Belette, who stood by a column near the center of the hall, leering lecherously at the young girls who frolicked about him. I could see the little girl spied the scoundrel, too. Ever so softly, I sang a little song the anchoress had taught me, with the lyrics changed a bit to adapt to the situation. â€Å"Belette was a rat, was a rat, was a rat, was a rat, Belette was a rat, was a rat, was a rat, was a rat, Belette was a rat who ate his tail.† And the little girl pulled back and looked at me, as if to see if I had really sung such a thing. And I sang on: â€Å"Belette was a rat, was a rat, was a rat, Belette was a rat, was a rat, was a rat, Belette was a rat, who drowned in a pail.† And the little girl cackled – a broken, little-girl yodel of a laugh that rang of innocence and joy and delight. I sang on, and ever so softly, she sang with me, â€Å"Belette was a rat, was a rat, was a rat, Belette was a rat – â€Å" And we were no longer alone under the table. There was another pair of crystal-blue eyes, and behind them a white-haired king. The old king smiled and squeezed my biceps. And before the other guests noticed that the king was under the table, he sat back up on his throne, but he reached down and lay a hand across the little girl's shoulder and the other upon mine. It was a hand reached across a vast chasm of reality – from the highest position of ruler of the realm, to a lowborn orphan boy who slept in the mud under a wagon. I thought it must have been how a knight felt when the king's sword touched his shoulder, elevating him to nobility. â€Å"Was a rat, was a rat, was a rat,† we sang. When the party died down and noble guests hung drunk over the tables, the servants piled onto the floor before the fire, Belette began to move among the revelers and tap each of his performers, calling them to gather by the door. I had fallen asleep under the table, and the little girl against my arm. He pulled me up by my hair. â€Å"You did nothing all night. I watched.† I knew there was a beating in store for when we got back to the wagon, and I was prepared for it. At least I had eaten some supper at the feast. But as Belette turned to drag me away he stopped, abruptly. I looked up to see the master frozen in space, a sword-point pressed into his cheek just below his eye. He let go of my hair. â€Å"Good thought,† said Kent, the old bull, pulling his sword back, but holding it steadily aimed, a hand's breadth from Belette's eye. There was a sound of coin on the table and Belette couldn't help but look down, even at the peril of his life. A doeskin purse as big as a man's fist lay before him. The chamberlain, a tall, severe chap who looked perpetually down his nose, stood beside Kent. He said, â€Å"Your payment, plus ten pounds, which you shall accept as payment for this boy.† â€Å"But – † said Belette. â€Å"You are a word from your mortality, sirrah,† said Lear. â€Å"Do go on.† He sat straight and regal on his throne, one hand pressed to the cheek of the little girl, who had awakened and was clinging to his leg. Belette took the purse, bowed deeply, and backed across the hall. The other mummers of my troupe bowed and followed him out. â€Å"What is your name, boy?† asked Lear. â€Å"Pocket, your majesty.† â€Å"Well, then, Pocket, do you see this child?† â€Å"Yes, majesty.† â€Å"Her name is Cordelia. She is our youngest daughter, and henceforth shall be your mistress. You have one duty above all, Pocket. That is to make her happy.† â€Å"Yes, majesty.† â€Å"Take him to Bubble,† said the king. â€Å"Have her feed and bathe him, then find him new clothes.† Back on the road to Gloucester, Lear said, â€Å"So, what is your will, Pocket? Would you be a traveling mummer again – trade the comfort of the castle for the adventure of the road?† â€Å"Apparently, I have, nuncle,† said I. We camped at the stream, which froze over during the night. The old man sat shivering by the fire with his rich fur cloak wrapped around him; the garment so full and the man so slight that it appeared he was being consumed by a slow but well-groomed beast. Only his white beard and the hawk nose were visible outside the cloak – two stars of fire shone back in the cape creature, his eyes. Snow fell around us in great wet orgies of flakes, and my own woolen cloak, which I'd pulled over my head, was sodden. â€Å"Have I been so unfit as a father that my daughters would turn on me so?† asked Lear. Why, now, did he choose to stare into the dark barrel of his soul, when he'd been content all these years to simply scoop out his desires and let the consequences wash over whomever they may? Bloody inopportune time for introspection, after you've given away the roof over your head. But I did not say so. â€Å"What would I know of proper fathering, sire? I had no father nor mother. I was reared by the Church, and I'd not give a hot squirt of piss for the lot of them.† â€Å"Poor boy,† said the king. â€Å"As long as I live, you shall have father and family.† I would have pointed out that he had himself declared his crawl to the grave commenced, and that given his performance with his daughters, I might do better to go forth an orphan, but the old man had rescued me from the life of a slave and wanderer, and given me a home in the palace, with friends and, I suppose, family of a sort. So I said, â€Å"Thank you, majesty.† The old man sighed heavily and said, â€Å"None of my three queens ever loved me.† â€Å"Oh, for fuck's sake, Lear, I'm a jester, not a bloody wizard. If you're going to keep diving into the muck of your regrets then I'll just hold your sword for you and you can see if you can get your ancient ass moving enough to fall on the pointy part so we can both get some bloody peace.† Lear laughed then – twisted old oak that he was – and patted my shoulder. â€Å"I could ask nothing more of a son than he give me laughter in my despair. I'm off to bed. Sleep in my tent, tonight, Pocket, out of the cold.† â€Å"Aye, sire.† I was touched by the old man's kindness, I cannot deny it. The old man tottered over to his tent. One of the pages had been carrying hot stones into the tent for an hour and I felt the heat rush out as the king ducked inside. â€Å"I'll be in after I've had a wee,† said I. I walked to the edge of the fire's light and beside a great bare elm was relieving myself when a blue light shimmered in the forest before me. â€Å"Well, that's a woolly tuft of lamb wank,† said a woman's voice, just as the girl ghost stepped out from behind the tree upon which I was weeing. â€Å"God's balls, wisp, I've almost peed on you!† â€Å"Careful, fool,† said the ghost, looking frighteningly solid now – just a tad translucent – snowflakes were passing through her. But I was not frightened. â€Å"Warm thy grateful heart, In the king's family, But for his royal crimes, You'd not an orphan be.† â€Å"That's it?† I asked. â€Å"Rhymes and riddles? Still?† â€Å"All you need for now,† said the ghost. â€Å"I saw the witches,† said I. â€Å"They seemed to know you.† â€Å"Aye,† said the ghost. â€Å"There's dark deeds afoot at Gloucester, fool. Don't lose sight.† â€Å"Sight of what?† But she was gone, and I was standing in the woods, my willie in my hand, talking to a tree. On to Gloucester in the morning, and I'd see what I was not to lose sight of. Or some such nonsense. Cornwall's and Regan's flags flew over the battlements alongside Gloucester's, showing they had already arrived. Castle Gloucester was a bundle of towers surrounded by a lake on three sides and by a wide moat at the front – no outer curtain wall like the White Tower or Albany, no bailey, just a small front courtyard and a gatehouse that protected the entrance. The city wall, on the land side of the castle, provided the outer defenses for stables and barracks. As we approached, a trumpet sounded from the wall announcing us. Drool came running across the drawbridge, his arms held high. â€Å"Pocket, Pocket, where have you been? My friend! My friend!† I was greatly relieved to see him alive, but the great, simple bear pulled me from my horse and hugged me until I could barely breathe, dancing me in a circle, my feet flying in the air as if I was a doll. â€Å"Stop licking, Drool, you lout, you'll wear my hair off.† I clouted the oaf on the back with Jones and he yowled. â€Å"Ouch. Don't hit, Pocket.† He dropped me and crouched, hugging himself as if he were his own comforting mother, which he may have been, for all I know. I saw red-brown stains on his shirt back, and so lifted it to see the cause. â€Å"Oh, lad, what has happened to you?† My voice broke, tears tried to push out of my eyes, and I gasped. The muscular slab of Drool's back was nearly devoid of skin – his hide had been torn and scabbed over and torn again by a vicious lash. â€Å"I've missed you most awful,† said Drool. â€Å"Aye, me too, but how happened these stripes?† â€Å"Lord Edmund says I am an insult to nature and must be punished.† Edmund. Bastard.

Park and Sprague

The average American life expectancy is at 75 years, which reflects an increasing population of Senior citizens projected to reach around 80 million when year 2050 comes around. This is also true with countries as developed as the USA and that of Korea estimating to be at one for every five persons belonging to the senior category. What is also projected is the fact that also by 2050, more Americans will live at 85 and above at a 30 percent increase of the population.This implies a lot of things; mainly, the need for continuing care will be increased as facilities for such arrangements obviously have to be taken cared of or planned as well (Park and Sprague, 2007). Changing values in the family, the fact of urbanization and improved financial capabilities of those reaching their senior years account for this increased need for continuing care retirement institutions. The picture of current sophisticated nursing care for the elderly is no longer confined to the typical home for the ag ed.Today’s communities prepared for those in their retirement years take into consideration the sense of independence or autonomy of senior adults, the preservation of their dignity and especially the needed care of each unique individuals, making the residents feel that home becomes an integral ambience of their stay (Park and Sprague, 2007). Definitely, the challenges that are distinctive of the senior years include first and foremost the physical decline of the elderly.This alone cascades into several ramifications including the loss or diminished use of some sensory capacities such as loss of touch and impairment of hearing and visual capabilities (â€Å"Factors in the elder care decision. † 2005). Reduced strength becomes a source of daily struggle since motor reflexes become slow as energy levels are equally diminishing (Park and Sprague, 2007). With these changes, the decision to commit elderly to the care of professionals in institutions is usually made when al l the advantages and disadvantages have been considered.Advantages include having the facilities such as residential care social services where the physical needs are virtually taken cared of; senior community center where the social interactions are looked after to alleviate loneliness and sense of detachment from the family and the community; independent housing, and nursing home care where the health is maintained and diseases are reduced to a minimum; all the needs of the elderly have been thought of and designed basing on the continuum of care concept (â€Å"Factors in the elder care decision.† 2005). Bathing, meals, and medications are practically relieved from the care of the immediate relatives and provided for by trained personnel. In addition, the elderly who can hardly sustain themselves are provided with skilled nursing facilities; those who have become totally dependent such as the bedridden and myriad health problems (Park and Sprague, 2007). Disadvantages start with the rent or cost which is understandably high.Some residential areas may be lower in cost but the isolation may complicate or worsen the health conditions of those who become lonely for their loved ones and other vital connections. Other disadvantages are the risks of physical abuse and neglect which are not hundred percent guaranteed in some or many facilities despite the promise of administrative personnel to their clients. In addition, there may limitations as to the number of residents that a facility may take in; hence it may take a while to apply and be accepted in some of the excellent communities.Questions arise whether excellent care is actually given to the elderly, or whether the staffs that are hired are actually knowledgeable and skilled to take care of the individual clients (Park and Sprague, 2007). In conclusion, the relatives or loved ones of the elderly will eventually make their decision on affordability and sense of security that they feel concerning the pr ospective community that they will confine their elderly into (â€Å"Factors in the elder care decision.† 2005). Studies reveal that most elderly have maintained and/restored vitality when confined to the care of these trained professionals. On the other hand, it would probably be all important that decisions be made exhaustively, as residents may find their options are decisions they need to accept as lifetime (Krooks and Stoppel, 2007) as they will be leaving homes and loved ones, and in all probability will include the decision to sell their residential abodes. Reference:Krooks, Bernard and Kirsten Stoppel. 2000. Continuing Care Retirement Communities. Accessed February 18, 2008