Analysis Of Booker T. Washington - 1766 Words

One of the most influential leaders in American education in the late nineteenth and early twentieth centuries was Booker T. Washington. Washington excelled in the areas of teaching, writing and public speaking. It was through these avenues that he influenced countless numbers of people. During his lifetime, he was a national leader for the betterment of African-Americans in the post-Reconstruction South. In Washington’s book, Up from Slavery, he chronologically tells his life and how he rose from a slave to become accomplished in the areas of education and public speaking. In a very straightforward yet strong voice, he details the many obstacles he overcame throughout his life and how they contributed to his success. Washington’s†¦show more content†¦When Freedom came, neither the slaves nor the masters were equipped to handle the new life (Washington, 1995). While the African Americans were free, they didn’t have any resources, home or education an d were not use to the responsibilities. Many made deals to work for their old masters. Most of their masters were not use to manual labor, hadn’t specialized in a specific industry and didn’t know how to cook, sew, or care for a house. However, Washington’s family made a long and difficult trip to Malden, West Virginia to live with his stepfather. His surroundings were even bleaker than when he was enslaved and he was forced to work in the salt mines. He was determined to learn though and taught himself out of a book at home. He also made arrangements with a teacher for at night after his work was done. He was even permitted to attend school during the day for a short period, until he was needed to devote all his time to work. Washington (1995) stated, â€Å"There was never a time in my youth, no matter how dark and discouraging the days might be, when one resolve did not continually remain with me, and that was a determination to secure an education a t any cost.† (p. 18). Washington heard of a great school for his race, the Hampton Normal and Agricultural Institute, where poor students could work off their room and board and be taught a trade or industry (Washington, 1995). Washington thought it must be â€Å"the greatest place

To What Extent Do Democracies Affect A Nation s Poverty

To what extent do democracies affect a nation’s poverty? My question was inspired by the article â€Å" The Life of the Peasants†. This article informs readers how bad the conditions were for peasants and the detrimental impacts that occurred on the peasants. Poverty is a serious topic that needs to be re-evaluated and analyzed some more. â€Å"Globally, about 21,000 people die every day of hunger or hunger-related causes†, according to the United Nations. This is one person every four seconds and unfortunately, it is children who die most often. The reason for these deaths is poverty, which has always been around and affects many people every year. In the article, â€Å" The life of the Peasants† the writer believes that poverty has improved and has†¦show more content†¦This means that these democracies ,such as the United States, are taking steps to reduce poverty, while having new technology to calculate the poverty rate globally. This is imperative to note because poverty rates have increased every year an d with these new technologies, developing democratic countries could look at the United States as a future example on how to decrease poverty. Such ways to decrease poverty includes economic growth, which allows for more job opportunities. These job opportunities will boost the overall economy in all structures of government, which will later decrease the poverty rates within the host country. Both informal and formal job opportunities are presented in these democratic countries. It is proven that, in Latin America, informal jobs was the primary generator of jobs in the 1990s with 60 per cent of new jobs created by micro-enterprises, own-account workers and domestic services. In africa, if rural and agricultural sectors are included, the figure is closer to 90 per cent. This is a vast number because Africa is a very diverse country, so there are many different areas of work. One area of Africa is rural, while another area is industrialized and

A Book Report on Poe’s “The Tell Tale Heart” Free Essays

The Tell-Tale Heart, by Edgar Allan Poe, is written in the first person. This is proven because â€Å"I† is used to tell the story. This story told is by a participating narrator. We will write a custom essay sample on A Book Report on Poe’s â€Å"The Tell Tale Heart† or any similar topic only for you Order Now The narrator is also the main character. The point of view used in this story is the unreliable narrator; this is a point of view according to Literature by X. J. Kennedy and Dana Gioia. This view was chosen because the narrator was very deceptive, deluded and deranged. For example, â€Å"I cut off the head and the arms and the legs†. (pg. 36). I find this to be extremely deranged. The narrator was also very deceptive by playing a trick on the older man in bed every night. The deluded madman would spy on the old man at midnight every night for seven days straight. By the eighth day he had this deranged plan to kill him. So, at midnight the madman came into the room quietly, or so he tried, and suffocated the old man. In the meantime the old man was scared when he heard some noises but probably thought that it was only a mouse or something. Because the man did not get up and check on the noises, it cost him his life. The old man was tricked on thinking it was just a noise an old house makes. Therefore, The point of view used in the story was that of an unreliable narrator in the first person. Raymond Carver had many influences in his life that contributed to his short stories and poems. But his main influence was his family. With two kids and married at the age of 19, he definitely had his hands full. He would try and write stories to support his children while engaging in other labor jobs during the day. Everyday life is an inspiration on everyone. People might not realize it but what happens everyday has an affect or influence on the way they approach life. For example, Carver†s day at the laundry mat. He realized that life isn†t what it is cracked out to be and he noticed this just by being frustrated because he couldn†t get any driers. Also, Carver†s professor at Chico State University, John Gardner, was a great influence at the time. Gardner helped Carver with some of his short stories. He would help Carver by being really patient and helping understand what he needs to do better. Education is a great influence on life. It introduces new perspectives to life and opens many new doors of opportunity. Without education or his family Raymond Carver might not have been as successful as he has. How to cite A Book Report on Poe’s â€Å"The Tell Tale Heart†, Papers A Book Report on Poe’s â€Å"The Tell Tale Heart† Free Essays The Tell-Tale Heart, by Edgar Allan Poe, is written in the first person. This is proven because â€Å"I† is used to tell the story. This story told is by a participating narrator. We will write a custom essay sample on A Book Report on Poe’s â€Å"The Tell Tale Heart† or any similar topic only for you Order Now The narrator is also the main character. The point of view used in this story is the unreliable narrator; this is a point of view according to Literature by X. J. Kennedy and Dana Gioia. This view was chosen because the narrator was very deceptive, deluded and deranged. For example, â€Å"I cut off the head and the arms and the legs†. (pg. 36). I find this to be extremely deranged. The narrator was also very deceptive by playing a trick on the older man in bed every night. The deluded madman would spy on the old man at midnight every night for seven days straight. By the eighth day he had this deranged plan to kill him. So, at midnight the madman came into the room quietly, or so he tried, and suffocated the old man. In the meantime the old man was scared when he heard some noises but probably thought that it was only a mouse or something. Because the man did not get up and check on the noises, it cost him his life. The old man was tricked on thinking it was just a noise an old house makes. Therefore, The point of view used in the story was that of an unreliable narrator in the first person. Raymond Carver had many influences in his life that contributed to his short stories and poems. But his main influence was his family. With two kids and married at the age of 19, he definitely had his hands full. He would try and write stories to support his children while engaging in other labor jobs during the day. Everyday life is an inspiration on everyone. People might not realize it but what happens everyday has an affect or influence on the way they approach life. For example, Carver†s day at the laundry mat. He realized that life isn†t what it is cracked out to be and he noticed this just by being frustrated because he couldn†t get any driers. Also, Carver†s professor at Chico State University, John Gardner, was a great influence at the time. Gardner helped Carver with some of his short stories. He would help Carver by being really patient and helping understand what he needs to do better. Education is a great influence on life. It introduces new perspectives to life and opens many new doors of opportunity. Without education or his family Raymond Carver might not have been as successful as he has. How to cite A Book Report on Poe’s â€Å"The Tell Tale Heart†, Papers

Stock of Apollo Tourism and Leisure Ltd †MyAssignmenthelp.com

Question: Discuss about the Stock of Apollo Tourism and Leisure Ltd. Answer: Introduction: Apollo Tourism and Leisure Ltd is used for this question. Apollo is the Australian based company and since 1985, the company has come into operations but in November 2016 the company has become listed in ASX (ASX: ATL). The main business activities of the company are to do producing, wholesaling, leasing, retailing and issuing the wide varieties of leisure activities such as motorhomes management, campervans and caravans. The other business locations of Apollo around the world are US, Canada, North America and New Zealand. The central agenda of Apollo is to fulfil the potentials of the clients (Prospectus, 2017). Debts are the outstandings in order to fulfil the financial necessities. Debts have 2 types of nature: Short-term and Long-term. Short-term Debt are the money owed and the duration of repayment is 1 year and it is shown under the Current Liabilities in the balance sheet. For this case, Trade payables and borrowings - current are taken as Short-term Debt. Long-term Debt are the money owed and the duration of repayment is 1 year and it is shown under the Non-Current Liabilities in the balance sheet. For this case, borrowings non-current are taken as Long-term Debt (MorningStar, 2017). Particulars 2017 2016 Change in % SHORT-TERM DEBT Trade Payables $ 110,64,000.00 $ 72,03,000.00 53.60% Borrowings - Current $ 1118,94,000.00 $ 422,81,000.00 164.64% TOTAL $ 1229,58,000.00 $ 494,84,000.00 148.48% LONG-TERM DEBT Borrowings - Non-Current $ 567,87,000.00 $ 606,99,000.00 -6.44% TOTAL $ 567,87,000.00 $ 606,99,000.00 -6.44% (Source: Annual Report, 2017). Particulars 2017 2016 Equity $ 1014,16,000.00 $ 315,50,000.00 Total debt $ 1797,45,000.00 $ 1101,83,000.00 Debt/Equity 1.77 3.49 Industry Average 1.66 1.66 (Source: Annual Report, 2017). Consider the above slab, it has been observed that Apollo Tourism and Leisure Ltd performance is regular with the industry ratio in 2017. Industry average is 1.66 in both years whereas the Apollos figure is 1.77 in 2017 and 3.49 in 2016 (Investing. com, 2017). Particulars 2017 2016 Change in % Industry % Short-term Debt $ 1229,58,000.00 $ 494,84,000.00 148.48% 166.33% Long-term Debt $ 567,87,000.00 $ 606,99,000.00 -6.44% 55.99% Total Debt $ 1797,45,000.00 $ 1101,83,000.00 Consider the above slab, it has been observed that long-term and short-term debt of the Apollo Tourism and Leisure Ltd is not aligned with the industry figure. Therefore, the short-term debt shown is 148.48% while the average of industry is 166.33% which indicates the negative influence for the company. For long-term debt, there is also the negative influence because the Apollo average is -6.44% while the average of industry is 55.99% (Investing. com, 2017). Particulars 2017 2016 Interest Expenses $ 77,53,000.00 $ 72,92,000.00 Total Debt $ 1797,45,000.00 $ 1101,83,000.00 Cost of Debt [Interest expenses/Total Debt] 4.31% 6.62% (Source: Annual Report, 2017). Particulars 2017 2016 Retained Earnings $ 388,38,000.00 $ 309,18,000.00 Net income $ 86,46,000.00 $ 48,34,000.00 Dividend Payout ratio [100-retained earnings/Net income] 95.5 93.6 Total Equity $ 1014,16,000.00 $ 315,50,000.00 ROE [Net income/Total Equity] 8.53% 15.32% Growth Rate [(1-payout ratio)*Return on Equity 0.38% 0.98% Dividend per share 2 0 Current share price 1.62 0 Cost of Equity 1.61% 0.98% Particulars 2017 2016 Comparable Approaches Price to free cash flow Share price $ 1.62 $ - Free cash flow Operating cash flow $ 661,57,000.00 $ 372,81,000.00 Capital expenditures $ 110,16,000.00 $ 21,21,000.00 Free cash flow $ 551,41,000.00 $ 351,60,000.00 Price to free cash flow 2.93792E-08 0 Enterprise value to sales Enterprise value Market capitalization $ 1014,16,000.00 $ 315,50,000.00 Debt $ 1797,45,000.00 $ 1101,83,000.00 cash and cash equivalent $ 485,99,000.00 $ 55,35,000.00 Enterprise value $ 2325,62,000.00 $ 1361,98,000.00 Annual sales $ 1770,01,000.00 $ 979,29,000.00 Enterprise value to sales 1.31 1.39 Enterprise Multiple Enterprise Value $ 2325,62,000.00 $ 1361,98,000.00 EBITDA $ 157,58,000.00 $ 135,56,000.00 Enterprise Multiple 14.76 10.05 (Source: Annual Report, 2017). Stock of Apollo Tourism and Leisure Ltd is given AUD $ 1.62 in 2017 which says that the performance of the company is sound because the net income of the Apollo has increased tremendously in 2017 from 2016 by 78.86% which signifies that the graph is upward sloping which is a positive sign for the company. In this case, the company is listed in November 2016, thus the share price of the company in 2017 is AUD $ 1.62 and there is no share price in 2016. The share price of the company might get rise in future because the company has issued share capital of $ 75679000 in 2017 after it get listed in ASX and also the company has earned good amount of profits in 2017 in comparison to year 2016. Rate of interest also helps in assessing the performance of the entity by taken into consideration all the factors which helps in improving the enactment of the company. An organisation needs to control the interest rates which directly exaggerated the consumer base of the industry in the wide environment. Role of Tax rate in calculation of WACC In computation of weighted average cost of capital, tax rate plays the key role of Apollo Tourism and Leisure Ltd. The effect of tax rate is shown in the preparation of statement of income and the statutory rate of tax is 30% which ultimately reduces the net income which are distributed to the shareholders of the entity. Due to tax rate, WACC ultimately gets reduces. Cost of Equity Cost of Debt 1. Interest are not paid in Cost of Equity. 1. Cost of debt simply means the interest paid by the company on its borrowings. 2. Cost of Equity is calculated as: Rf + Beta(Rm-Rf). 2. It is calculated as: Interest/total debt * (1 tax rate) 3. It is the return for the shareholders. 3. It is the return for the bondholders. Inclusion of Current liabilities in capital calculation and its pros and cons. Short-term debts are included in current liabilities and its exclusion will make the overall debt structure incomplete because the total debts of the entity is the combination of both Short-term debt and long-term debt and thus the current liabilities automatically included in the capital formation. Benefits The overall capacity of the firm is ascertained by the inclusion of the actual debt incurred. Limitations Interest commitments gets increased charged on total debt management. WACC importance in the decision making After the completion of overall evaluation of both the costs of capital that is cost of equity and cost of debt, an organisation can take significant judgements about the investments. Net present value is computed and it helps in decision making processes by seeking the project or business which has generated higher or positive returns. The project or the business is considered to be the best same as the projects which are assessed on the basis of costs incurred by the business units. WACC indicates the capacity of an entity in paying off all of its debts in a particular time. An investor will determine the entity capability for the purpose of generating maximum profits to validate the investments by the owners of the entity. The basic thing after the incorporation of an entity is to form the capital structure that indicates the business operations of an entity. There are vast sources of finance that are included in the firm having different weights of equity and debt. There is need to form the adequate capital structure by the entity after the external opportunities and the expectations have been analysed. Particulars 2017 % 2016 % Short-term Debt $ 1229,58,000.00 43.73% $ 494,84,000.00 34.91% Long-term Debt $ 567,87,000.00 20.20% $ 606,99,000.00 42.83% Total Debt $ 1797,45,000.00 63.93% $ 1101,83,000.00 77.74% Total Equity $ 1014,16,000.00 36.07% $ 315,50,000.00 22.26% TOTAL $ 2811,61,000.00 100.00% $ 1417,33,000.00 100.00% (Source: Annual Report, 2017). From the above table it is seen that Debt proportion of the company has increased in 2016 in comparison to 2015 whereas the Equity proportion has decreased in 2016 in 2015. Optimal capital structure The meaning of optimal capital structure is that the equity component has more that the debt component in order to overcome the costs of finance charged on the debts. In this case, the debt proportion is higher than the equity proportion because the company has listed its shares in 2016. After the computation of WACC, it has been observed that financial position of the Apollo Tourism and leisure Ltd is sound because the company has earned profits in the year ended June 2017 and in 2016. The hike in the profit from 2016 to 2017 was 78.86% which is tremendous and thus the financial stability of the entity is satisfactory (Annual Report, 2017). The financial analysis of the Apollo tourism and leisure ltd is conducted and it has been said that in both the years company has generated profits and the owners got the maximum returns of the earnings in the form of dividend. Thus the investors must invest in the Apollo tourism and leisure ltd (Apollo, 2017). The other important element which needs to be highlighted is that the cash flow positon of the company has increased from year 2016 which was AUD $ 66157000 to AUD $ 37281000 in the year 2017 that is 77.45% increment has taken place in the company (Annual Report, 2017). References Prospectus, 2017, Apollo Tourism and Leisure Ltd, viewed on 20 October 2017 from https://www.morgans.com.au/morgans-assets/PDFs/Apollo-prospectus.pdf. Apollo, 2017, About Us, viewed on 20 October 2017 from https://apollotourism.com/about-us/. Annual Report, 2017, Apollo Tourism and Leisure Ltd, 2017, viewed on 20 October 2017 from https://atl.irmau.com/site/PDF/1100_0/AnnualReporttoshareholders. Investing.com, 2017, Apollo Tourism and Leisure Ltd (ATL), viewed on 20 October 2017 from https://ca.investing.com/equities/apollo-tourism-leisure-ltd-ratios. Financial Times, 2017, Apollo Tourism and Leisure Ltd, viewed on 20 October 2017 from https://markets.ft.com/data/equities/tearsheet/charts?s=ATL:ASX. MorningStar, 2017, Apollo Tourism and Leisure Ltd (ATL), viewed on 20 October 2017 from https://performance.morningstar.com/stock/performancereturn.action?t=ATLregion=ausculture=en-US.