Rage in Baldwins Stranger in the Village Essay - 578 Words

Rage in Baldwins Stranger in the Village The rage of the disesteemed is personally fruitless, but it is also absolutely inevitable; this rage, so generally discounted, so little understood even among the people whose daily bread it is, is one of the things that makes history. -- James Baldwin, ?Stranger in the Village? (130) In his essay Stranger in the Village (1955), many of James Baldwin?s innermost feelings are exposed to the reader. One of the emotions I believe Baldwin feels most strongly is rage. He is angry at the fact that only whites are looked upon as humans, while the black man is looked upon as chattel. Baldwin mentions the word rage several times in his essay and discusses the reasons why he is filled†¦show more content†¦The past brings out strong emotions in Baldwin leading him to express his feelings by writing. In paragraph 10, Baldwin describes the feeling of rage explicitly. He explains that ?rage? is unavoidable and that one cannot ignore it. The rage of people caught in situations, as Baldwin puts it in the epigraph that frames this essay, causes ?rage? on an everyday basis but still cannot be fully comprehended. The rage of the American Negro can only partially be rationalized by the white people with complications and ?never entirely? subdued by the American Negro. This powerful anger cannot be concealed or disguised because it would become deceitful and invigorate ?rage? and add to its unpleasantness (130-131). Additionally, rage is by far the strongest emotion one can experience, especially if repressed. For instance, Baldwin had a lot of anger and hostility built inside of him because of his troubled past and agitated feelings. These feelings grow inside of Baldwin because he cannot fit into a society that accepts him as an ?exotic rarity? (131), not a human being. In paragraphs 7 and 8, Baldwin alludes to his hostility towards white people. Baldwin supposes that there is an immense distinction between being the first white person to be seen by black people and to be the first black person to be seen by white people. Baldwin asserts that it is not fair that a white man can come to a newShow MoreRelated James Baldwins Stranger in the Village Essays896 Words   |  4 PagesJames Baldwins Stranger in the Village In paragraph three of James Baldwins Stranger in the Village (1955), he alludes to emotions that are significant, dealing with conflicts that arise in the Swiss village. Of these emotions are two, astonishment and outrage, which represent the relevant feelings of Baldwin, an American black man. These two emotions, for Baldwins ancestors, create arguments about the Negro and their rights to be considered human beings (Baldwin 131). Baldwin,Read More`` Strangers `` By Toni Morrison And James Baldwin1400 Words   |  6 Pagessame opinions. Everyone carries a different opinion of a stranger in his/her mind depending upon there past encounters with strangers. This is evident in the works of Toni Morrison and James Baldwin. We encounter too many people everyday and it’s impossible to get to know them all. We observe and gauge them based on appearances, just like we do with â€Å" Books based on their cover † says Edwin Rolfe in â€Å"Murder in the Glass room†. In â€Å"Strangers† by Morrison, she meets a fisherwoman at her neighbor’sRead MoreAnalysis Of George Orwell s The Shooting An Elephant Essay1946 Words   |  8 Pagesthe motives behind the action of â€Å"avoid looking like a fool† is to maintain his white dignity arose from â€Å"the principle of white supremacy† (Mandela 186). In â€Å"Stranger in the Village†, James Baldwin notes there is a â€Å"great difference† between the whites and blacks as he imagines â€Å"white men arriving for the first time in an African village†: The white man takes the astonishment as tribute, for he arrives to conquer and to convert the natives, whose inferiority in relation to himself is not even to

The Wall Street Is An Useful Tool For The American Economy

Pros of Wall Street Wall Street is an extremely useful tool for the American economy. It helps those who are in the lower part of the social ladder by giving them a chance to climb the ladder of economic opportunity. Wall Street also helps boost other industries within America, thereby making it vital for the American economy. As Wall Street is one of the most important financial institutions in the world and provides more positive aspects for the economy than negative ones. Wall Street is extremely important for the American economy. Jeff Madrick, the editor of Challenge: The Magazine of Economic Affairs, in his piece â€Å"Does America need Wall Street†, cites historian Alfred Chandler, who argued that the majority of the money put into America during industrialization came from corporate profits (Madrick).Those profits were able to make technological advances for all Americans. Daniel Indiviglio, former associate editor of the Atlantic, states that Wall Street is also important to the economy because it helps banks create capital (Indiviglio). That bank capital helps create jobs in the economy by causing more money to be available to be put into the economy. Wall Street plays an important part in the economy, and without it, America would face financial hardships. Wall Street also helps the American economy by providing the opportunity to be able to move up the financial ladder. Adam Davidson, a journalist who focuses on business and economic issues for National PublicShow MoreRelatedThe Importance Of Online News839 Words   |  4 PagesOn the front page of today’s online business section of the Wall Street Journal, two headlines were presented side by side. While one referenced the â€Å"Uncommonly Strong U.S. Economic Picture,† buoyed by strong job growth, the other, written a week later, lamented the â€Å"Sluggish U.S. Economy† that has consistently posted lackluster growth figures (). Both articles, written by respected economic corresponden ts at the Journal—itself a reputable paper—reference official, credible figures; yet, despiteRead MoreTheu.s. Dodd Frank Wall Street Reform And Consumer Protection Act930 Words   |  4 PagesThe pros and cons of many macroeconomic policies are frequently debated. In particular, the Dodd-Frank Wall Street Reform and Consumer Protection Act that was signed into law in July of 2010 sparked bitter controversy. 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All of the NASDAQ stocks are also traded on the NASDAQ exchange, while the majority of Dow stocks are traded on the NYSE. TheRead MoreIncome Inequality Of The United States2013 Words   |  9 PagesA deafening and persistent roar reverberates against the glass walls, around the stone columns and through the rows of American flags, which billow above the financial hub of the United States. A sea of tens of thousands of American citizens begins below the iconic black a nd white sign that reads â€Å"Wall St†, and extends beyond the end of the block, filling each and every square inch of space in-between. 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Corporate Objectives And Approaches To Marketing †Free Samples

Question: Discuss about the Corporate Objectives And Approaches To Marketing. Answer: Corporate objectives Corporate objectives can be considered as the coremarketing decision that can help a particular company to boost up their inner performances ("Target finds innovative ways to further CSR objectives", 2016). It can be said that a proper corporate marketing strategy can develop the business and can take the business to a different level of success. The corporate strategy actually anticipates the time frame and it also increases the performance and the flow of the business so that the targets can be reached within the given time period. In this case Marks Spencer is a famous retail business organization that has earned its reputation by making some famous strategic corporate objectives. It is basically a UK based company but the company is spread all over the world. Marketing orientation concept Marketing orientation concept can be classified in the mentioned ways, Product Concept The products should be like the way the customers demand. It can be said that the organization must have the products ready according to the daily needs of the customers and the products must at least carry the minimum quality so that the customers get the proper satisfaction. In this case, MS has maintained a good quality of products from the very first stage of the business. The prices of the products are also very versatile and it almost covers the entire stages of the society(Lemmerer Menrad, 2015). The high class people as well as the middle class people are satisfied with the servitude of the company. Production concept The production concept is totally based on the products those are demanded by the customers (Pooth, 2010). It is obvious that the company will target to produce those products more which have more demand. That is where the production concept lies. Selling concept The selling concept is totally depended on the concept of marketing. People will start to buy more products if the company is able to sell them in a proper mannerism. Proper marketing and proper selling concept can increase the business flow indeed. Marketing concept This is the most vital concept based on which the products of MS will be sold to its target customers. If the company wants to increase its sell then the concept of marketing must be taken very seriously and the authority of the company must try to bring out different marketing concepts(Schmitt, 2010). Societal Marketing concept This marketing concept actually focuses the different aspects of the society while attempting to make marketing of the products. MS should consider its competitors also in the field of this marketing concept and they must come up with new ideas. Core marketing strategy of the organization The marketing strategy of any particular organization is always effective in the field of business. In this case MS have been successfully adapted to all the best strategies those are available in the market. It can be segmented to into few categories, Strength Growth Strategies Growth is mainly based on some ideas based on which the company actually tries to expand the business venture. It can be said that the growth strategy starts from the very initial stage of introducing the product and it continues as the business goes on(Europe 2020, 2014). Innovation Strategies It is one of the most effective strategies where the company focuses to target the customers by producing innovative products. It can also be considered as the innovative strategies which mainly differentiates the company from its rivalry. Weakness Generic Strategies This strategy actually defines the core strategy that company must take while expanding the business area. It can be said that a particular business must put all its focus on the competitors and the situation of the market. That is the only way to build up the correct marketing strategies. The above mentioned strategies are more or less effective for MS but among three strategies, Innovation strategy holds the most advantageous position in the market (Chen Jaiprakash, 2017). Generic strategy is the most basic and amateur strategy so it is not as much effective as the other two strategies. References Chen, L., Jaiprakash, P. (2017). An Insurance Market Simulation With Both Adverse and Advantageous Selection.Risk Management And Insurance Review,20(1), 133-146. https://dx.doi.org/10.1111/rmir.12070 Europe 2020. (2014). Luxembourg. Lemmerer, A., Menrad, K. (2015). Customers use of prices and internal reference prices to evaluate new food products.British Food Journal,117(4), 1411-1424. https://dx.doi.org/10.1108/bfj-07-2014-0270 Pooth, O. (2010).The CMS silicon strip tracker. Wiesbaden: Vieweg+Teubner Verlag. Schmitt, B. (2010). Experience Marketing: Concepts, Frameworks and Consumer Insights.Foundations And Trends In Marketing,5(2), 55-112. https://dx.doi.org/10.1561/1700000027 Target finds innovative ways to further CSR objectives. (2016).Corporate Philanthropy Report,31(9), 1-12. https://dx.doi.org/10.1002/cprt.30102

Nike Case Essay Example

Nike Case Paper What is the WACC and why is it important to estimate a firm’s cost of capital? Do you agree with Joanna Cohen’s WACC calculation? Why or why not? WACC is the weighted average cost of capital. It can be calculated as: WACC = (Weight of funding source 1) x (Cost of funding source 1) + †¦ + (Weight of funding source n) x (Cost of funding source n) Usually this will be simply: WACC = (Percentage of debt) x (Cost of debt) + (Percentage of equity) x (Cost of equity) It is important to estimate a firm’s cost of capital for the appraisal of new projects; a project should only be undertaken if the return from it is greater than that of the capital required to fund it unless there are other compelling (strategic) reasons. A firm should also be aware of it’s own cost of capital and try to minimise this. We do not agree with Joann’s WACC calculation: ? Her funding source weightings are wrong ? There is an argument that all debt (including accounts payable etc) or net debt and a blended return on this should be used The debt figure will only ever be an estimate as the balance sheet is one day in the year ? Her analysis assumes Nike debt is trading at par – it is not ? Equity should be based on market value, not book value ? Hence total will be based on market cap. , not balance sheet ? Her debt cost is wrong ? She should use the current or projected cost rather than a historic one ? i. e. use a Bloomberg terminal (other term inals are available) to research yields on debt of the same credit rating as Nike ? It is unlikely Nike has a cost of debt lower than T bills Raising debt in a foreign currency (Jap Yen) either carries an associated hedging cost or exposes the borrower to FX risk, hence the coupon rate on the notes is not the actual cost of the debt ? Her assumed tax rate is probably wrong, if a firm is paying anywhere near the statutory tax rate they are not doing their job properly. We would expect their actual tax rate to be much lower, even though the case does not show this ? Her equity cost is only an estimate and she has not used all of the tools available to her ? The CAPM only provides an estimate. Her inputs are based on assumptions: We do not know whether 20 year T bills are the most appropriate measure of the risk free rate. If NorthPoint is planning a 20 year investment they might be but we need more information. Any proxy for the RFR will only ever be an estimate ? The market risk prem ium is even harder to estimate. Although the geometric mean is the better measure she has used numbers based very old data. Markets may well have changed since 1926 and hence a more recent or even anticipated premium should be used ? Nike’s Beta appears to be on a downward trend so an average might not be the best estimate. We will write a custom essay sample on Nike Case specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Nike Case specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Nike Case specifically for you FOR ONLY $16.38 $13.9/page Hire Writer A forward looking Beta based on the outlook and expectations for the business would be better ? Because equity markets are forward looking (12 to 18 months) the current Beta is probably the best estimate ? Nike has been very volatile compared to the SP 500 so the historic Betas smooth reality ? By only considering the CAPM she ignores other methods for calculating the cost of equity and potentially makes a mistake ? A better approach would be to calculate the cost of equity using all available methods then make an estimate based on a larger range of data If you do not agree with Cohen’s analysis, calculate your own WACC for Nike and justify your assumptions [pic] Assumptions: ? Market value of debt ? Better reflection of actual value of source of funds ? We want to be forward looking, par is a historic number ? Running yield on bonds rather than YTM ? Quicker and easier to use ? Not much difference between them (7. 2 vs. 7. 0) o Capital gain on bond is small over life ? Any new debt would have an issue cost so YTM is not a true measure of funding cost ? Effective tax rate from 2001 The best proxy we have ? Still don’t like this number, feels too close to statutory rate. Interest is low so not much tax shield but what about capital allowances and general mitigation schemes? ? Most current equity market price ? Best information we have ? CAPM cost of equity ? See question 3 below for fuller description of methods ? CAPM is not perfect but: o Dividend Discount Model is too heavily dependent on a ‘black box’ nu mber for dividend growth – we have no understanding of this number o Capitalisation Ratio is quite a crude approach Calculate the costs of equity using CAPM, the dividend discount model, and the earnings capitalisation ratio. What are the advantages and disadvantages of each method? CAPM: [pic] Risk Free Rate is an average of 1, 5 and 10 year T bills. We assume this as a proxy for Nike’s actual debt profile. We use the current Beta because equity markets are forward looking. If we assume efficiency then all known information is in the current Beta. Betas will change over time so historic data is less relevant; we need to predict the future. Using regression our forecast Beta is 0. 0 so the results are very close. We use 9. 2% as a risk premium. It comes from Brealey Myers (2000) and is for the SP 500. It is the number that would have been available and appropriate for Kimi at the time. We may use a different number today based on our expectations of market returns although Brealey Myers argue that the best approach is to use as much data as possible to remove the effects of market fluctua tions. We have to ask ourselves whether market behaviour from 2008 onwards is the new paradigm. Advantages: ? Recognises return for risk Only considers risks that cannot be eliminated by diversification ? Is the most simple way of doing both of these ? Widely used so widely understood ? Does not rely on company financial projections Disadvantages: ? More of an art than a science. Includes estimates and assumptions for ? Risk free rate. Govt. bonds are not always the best proxy, i. e. some European debt. Also, RFR is probably not a real return due to inflation ? Expected market return. If we knew this number we would not be working for a living ? Beta. Decisions a company makes will change Beta. Depending on what the company is doing historic data may be worthless and hence we need to make our own estimate ? Assumes that Beta is the only reason equity prices move ? Assumes equity indices as proxies for movements in all asset values. This is a simplification of reality as many companies are privately owned ? The perceived required risk premium will change over time ? Investors will have different required rates of return for Nike depending on whether or not they hold it in a portfolio Dividend Discount Model: Problem:Dividends have been constant for the last 3 years. We are being asked to believe a growth story and perhaps an increase in dividend from that. We have no guidance on future dividend levels so the best we can do is use the Value Line Forecast of 5. 50%. Assuming constant growth and using the Gordon Model: Expected Return = Expected Dividend Yield + Expected Growth = 6. 6% Advantages: ? Very simple (in the constant growth form) ? Based on actual cashflows to shareholders Disadvantages: ? The simplified version of the equation we have used assumes the stock is in equilibrium ? Assumes a constant dividend growth rate, this is highly unlikely We do not have sufficient information to predict non-constant growth dividends to put into the full DDM ? Highly dependent on the expected growth rate which we actually have very little idea about ? Assumes we hold the stock in perpetuity. This is not likely for NorthPoint; as a value based fund they will sell at some point to realise a gain (hopefully! ) and re-invest in something they perceive to b e undervalued ? Assumes dividends grow with earnings. We could negate this by assuming dividend irrelevance and basing the analysis on earnings per share Earnings Capitalisation Ratio: Capitalisation Rate = Projected Earnings / Price Method used:Divide forecast free cashflows by current EV Take average Capitalisation Rate = 8. 6% Advantages: ? Quick and simple ? Can be used when no dividends are paid, hence payout ratio is irrelevant Disadvantages ? Relies on projections which are subjective and uncertain ? Compares future earnings to current EV ? Ignores the time value of money ? Solving the Corporation Valuation Model for WACC would be a better approach What should Kimi Ford recommend regarding an investment in Nike? Based on our WACC of 10. % Nike appears to be undervalued (using Joanna’s model, which we have not checked) so Kimi should recommend a buy. However, Kimi should consider the following: ? Do you really want to buy into a promised growth story? Earnings have been flat for a while; do you believe the growth projections? ? How does market price compare to intrinsic value? ? Is the market efficient? Have we really picked up something that no other analyst has or is everything in the price? ? Does the market even recognise fundamental value or is it driven by other things (fear and greed)? Competitors – we have only analysed one company. It is not possible to invest on this basis alone. The price of Nike must be compared to a suitable peer group ? Other investment appraisal methods should be used for comparison – P/E ratios etc ? Charting (investing technique) could also be considered ? Use her experience (of competitors etc) to estimate a Beta Final recommendation: Growth is uncertain and hence the value of the equity may fall further. This business has low levels of debt (low risk) paying 7% while the required equity return is 11%. Do not buy the equity. Set up an SPV, leverage this as highly as you can and buy the debt. Even if you can only achieve 50% leverage and 5% cost of borrowing (which should not be too ambitious) then you will achieve an 18% return on your equity in the SPV, all whilst invested in a far safer part of the Nike capital structure. Bibliography BREALEY, R. A. and MYERS, S. C. (2000) Principles of Corporate Finance. Sixth Edition. London: McGraw Hill BRIGHAM, E. F. and HOUSTON, J. F. (2009) Fundamentals of Financial Management. Twelfth Edition. Mason: Cengage