Purple Short Crabs

Purple Shore Crabs, Hemigrapsus nudus, are small crabs that are similar in structure to true crabs. They have carapaces that are commonly found to be 4-5. 6 cm. A distinguishing characteristic of the Purple Shore Crabs is their lack of setae. They are usually found to be dark purple, olive green or red with white or cream marks, on their carapace. Their legs match the color of their carapace but have white tipped claws. Though Purple Shore Crabs are capable of living out of water for several hours, they require moisture to survive.These crabs respire with a gill system in which they take in oxygen-rich water orally, obtaining oxygen by diffusion then expelling the excess water and carbon dioxide through their gills. They are commonly found under rocks anywhere from low-tide to mid-tide zones as well as reefs as far down as 10 metres. Purple Shore Crabs prefer an environment in which the shores are medium-energy to high-energy. When their shelters are disturbed, they tend to race towa rds shelters such as other rocks, ledges, holes and crevices.Purple Shore Crabs are scavangers with dietary preferences that include worms, dead organisms, molluscs, small gastropods, small crabs, algae, carrion and seaweed. The purpose of our investigation is to determine whether there is a relationship between the relative distance to the shore and the population density of Purple Shore Crabs. To determine this, 3 transects were placed perpendicular to the shoreline of Eagle Bay, Bamfield.A random number generator was used to determine 5 completely unbiased numbers. These numbers were used to establish the distance of which the quadrats were placed. For each number, 1 quadrat was placed by the top left corner of each of the 3 transects. To calculate the population density of Purple Shore Crabs, the number of Purple Shore Crabs within each quadrat was counted and recorded. To avoid re-counting of an individual crab, crabs were counted after being collected in a bucket.

To what extent has the European Court of Human Rights (ECHR’s) case law recognised and protected the right not to be discriminated against on the ground of sexual orientation, in relation to marriage.

Abstract There has been much discussion as to whether the ECHR’s attempts to recognise and protect the right not to be discriminated against on the ground of sexual orientation have been successful. This is because, although the UK has in recent years made positive changes towards the equality of same-sex couples, discrimination is still prevalent in many other countries. This study aims to identify the extent to which such discrimination still exists and consider how effective the ECHR has been in preserving these rights. Introduction It will be examined the extent to which the European Court of Human Rights (ECHR’s) case law has recognised and protected the right not to be discriminated against on the ground of sexual orientation. This will be examined in respect of same-sex marriages and by considering whether same-sex couples are still being discriminated against or whether the ECHR has been successful in helping to protect the interests of such couples. Various case law of the ECHR will be examined and a review of the academic literature in this area will be conducted. These will be acquired by accessing relevant text books, journal articles, online databases and governmental reports. Once all the applicable information has been gathered an appropriate conclusion will then be drawn demonstrating that the ECHR has made significant attempts to protect the rights of individuals when it comes to their sexual orientation. However, it will be demonstrated that whilst this has proven successful in the UK, othe r countries are still reluctant to employ the ECHR’s approach. Literature Review The Marriage (Same Sex Couples) Act 2013 came into force on the 13 March 2014 to legalise same sex marriages as this was previously prohibited under section 11 (c) of the Matrimonial Causes Act 1973. This prohibited led to much debate and controversy for a number of years as it was felt that same-sex couples were being discriminated against and that their right to equality, as provided for under Article 14 of the European Convention of Human Rights 1951 (ECHR), as incorporated by the Human Rights Act 1998, was being violated. This controversy occurred regardless of the fact that civil partnerships were introduced under the Civil Partnership Act 2004 since it was still being argued that same-sex couples entering into a civil partnership were not provided with the same rights and responsibilities as heterosexual couples under a civil marriage. Inequality therefore still existed as the status of marriage was not capable of being acquired by same-sex couples. This was considered highly d etrimental and it was argued by Francoz-Terminal that; â€Å"if at one time homosexuality was considered as a choice that implied no procreation, nowadays legal systems have had to face a new factual reality.†[1] This highlights the importance of equality and it seems as though there has never been more of a pressing need for the provisions contained in the ECHR to be implemented. Not all agree that same sex-couples should have been permitted to marry rather than merely enter into a civil partnership, yet because of the increasing recognition of same-sex couples in many European countries it was evident that the permitting of gay marriages have been relevant when discussing reforms in England and Wales.†[2] There was clearly a pressing need for reform in this area since the 2004 Act had proven ineffective in providing same-sex couples with equal rights to heterosexual couples when it came to marriage. Nevertheless, whilst it was argued by some that civil partnerships were simply marriages under a different name, this was not entirely true. This is because the equal rights and responsibilities that were given to heterosexual couples were not being given to same-sex couples. For example, same sex couples were not allowed to get married in a church or other religious on the basis that these types of places are prohibited from conducting civil partnership ceremonies under the law. This was considered highly unfair given that some ministers were willing to marry same-sex couples; however they were prevented doing so by law. Modern beliefs that all people should be treated equally were therefore not being ascertained and all of the traditional views of marriage were upheld. Not all agree with the new changes, however, as churches can still refuse to marry same sex-couples which leaves same-sex couples open to further discrimination.[3] Yet, it is believed that the law should not restrict a person’s choice and that churches ministers should still have the ability to choose whether or not they would like to marry same-sex couples. This provides a fairer system overall because although some churches will permit same-sex marriages whilst others will not, the fact that marriages can be conducted in churches in the first place is a major step forward.[4] The debate as to whether same-sex marriages should be permitted has been going on for some time, and the courts have attempted to protect an individual’s right not to be discriminated against on grounds of sexual orientation on marriage. In The Attorney General for Ontario v M and H[5] it was held by the court that; â€Å"provincial governments are to take legislative action to ensure that individuals in same-sex relationships are afforded equal treatment with others in marriage-like relationships.† Regardless of these views, it wasn’t until the ECHR began to recognise such rights that Parliament decided to take action. In Schalk v. Kopf v. Austria[6] it was made clear by the ECHR that; â€Å"a failure by a state to allow same-sex couples to marry amounted to a violation of the article 12 right to marry.† This decision highlighted the need to make amendments to section 11 (c) of the 1973 Act so that same-sex couples were not being discriminated against on the basis of their sexual orientation when it came to marriage. It was quite surprising when the 2013 Act was implemented given the widespread concerns that existed and as put by Norrie; â€Å"the trouble with gay and lesbian people is that they are never satisfied. Give them a crumb and they want a slice of bread. Give them a slice of bread and they want a full meal.†[7] Nevertheless, although changes were made under the 2004 Act to provide same sex couples with equal rights to heterosexual couples, the ECHR did not believe that this went far enough and still found that discrimination subsisted. It could be said that civil ceremonies were the same as marriages, yet because the nature of the ceremonies were different as well as the rights that were provided to married couples, it was clear that further changes were needed if complete equality was to be attained. It was argued by Eireann that the 2004 Act was akin to marriage in that it allowed same-sex couples to â€Å"formally declare their allegiance to each other, register their partnership and commit themselves to a range of duties and responsibilities.†[8] On the other hand, because equality of choice and opportunity was removed from same-sex couples, their rights under the ECHR were not being fully recognised[9], which is why drastic changes to the law were implemented in 2013. Whether all 47 countries will follow the ECHR’s decision in Schalk is questionable[10], given the political backlash that some countries will be subjected to. Although the ECHR is of the view that same-sex marriages should be permit ted, they are also aware of the fact that not everyone agrees with this position. As a result, they made it clear in their judgment that the choice to marry same-sex couples should still remain with the minister conducting the ceremony and that the rights of ministers should also be upheld.[11] Therefore, whilst it is important that the rights to equality are being maintained when it comes to the marriage of same-sex couples, it is also important that the rights of ministers not to be discriminated against if they choose not to marry such couples are also preserved. The ECHR has made great attempts to recognise and protect the rights of individuals not to be discriminated against on grounds of sexual orientation over the years, which is enunciated in various case law decisions. An example of this can be seen in the Niemietz v Germany[12] case where it was made clear that the right to a private life under Article 8 of the ECHR included the right to establish relationships with other human beings regardless as to whether they were of the same sex or not. Therefore, the fact that there were laws against same-sex marriages demonstrated that the right to a private life under this Article was also being violated. This was also identified in Bensaid v United Kingdom[13] where the court held that â€Å"gender identification, name and sexual orientation and sexual life† were all capable of protection under Article 8. Arguably, the ECHR has been a pioneer for same-sex relationships for some time and has clearly made significant attempts to eradicat e discrimination on the basis of sexual orientation. In Mata Estevez v Spain[14] the Court held that same-sex relationships could be protected by the right to respect for private life, although it was held that homosexual relationships could not be protected by the right to a family life. However, this has since been resolved in the Schalk case above. The Schalk case is a major development within this area of the law, yet because many states have not yet legalised the marriage of same-sex couples it is manifest that the development of this area does remain ongoing. It remains to be seen what changes, if any will be made by other Member States because although this was a positive decision inferences were not drawn by the Court. This leads to confusion as to whether puzzling all States should follow suit and as has been noted; â€Å"the door may have been unlocked but remains closed (or half open) for now?†[15] Consequently, even though same sex marriages are now being permitted in the UK, inequality will still exist by the ability for ministers to refuse to marry same-sex couples. Whether this will ever be changed is doubtful since all individuals still have the right to freedom of belief and religion under Article 9 of the ECHR. Hence, there will still be many churches that will refuse to allow such marriages to take place, yet nothing can be done to stop this as this too will result in a violation of human rights. At present an attempt to strike a balance between these competing interests has been made and it is unlikely that discrimina tion on the grounds of sexual orientation with regards to marriage will ever be fully eradicated. Still, the rights same-sex couples have to marry has increased substantially over the years, though there will continue to be different views in relation to the acceptance of such marriages by society. Every person has a right to have an opinion and by forcing ministers to conduct same-sex marriages would seriously contravene. In addition to the UK, Belgium, the Netherlands and Canada, also allow same-sex marriages to be conducted, which demonstrates the movement that is being made towards achieving greater equality across the globe. This is believed highly desirable and as noted by the court in Fourie and Another v Minister of Home Affairs and Others;[16] â€Å"the limitation of marriage to opposite sex couples was unconstitutional.† Same-sex marriages should therefore be recognised in all countries as societal views are continuously changing and same-sex couples are starting to become the â€Å"norm.† It is questionable whether this will be implemented by all and as stressed by Herring; â€Å"the tensions between the traditional family ideal of what a family should be like and the realities of family life today indicate that family law is quite different from family law 30 years ago and where family law will be in 30 years time is hard to predict.†[17] Now that same-sex couples are able to marry under the 2013 Act, such couples are now able to claim a family status. This is necessary given that there is â€Å"no institution of a de facto family† as pointed out in McD v L & Another.[1 8] It is thus in the best interests of a child to be served in a marriage-based family and because same-sex couples can adopt, it is necessary for them to be able to marry also; N and Another v Health Service Executive & Ors[19] Nevertheless, because same-sex marriages are not permitted in all countries, such as France, it cannot be said that the ECHR’s approaches have been completely successful. It was recognised by Francoz-Terminal that the emergence of same-sex families has been challenging for French Law, yet it has been said that the courts do actually seem prepared to meet these challenges.†[20] Attitudes towards same-sex marriages have changed considerably over the years and are likely to continue to do so until such marriages are considered a normal part of society. As a result, â€Å"the married family can no longer be assumed to be the near-universal institution of civil society it once was.†[21] Because of the changes that continue to be made within society, it is vital that the law is able to keep abreast with such changes which can be achieved by making sure individuals are not discriminated against on the basis of their sexual orientation. Conversely, it has been said that marriage is being undermined as a result of this,[22] yet the courts should not be able to interfere in one’s beliefs as shown in Burden and Burden v UK.[23] The right to marry is enshrined in human rights law and is thereby considered a â€Å"fundamental part of the freedom of the individual to form personal relationships according to his or her own inclination.†[24] Resultan tly, individuals should have the right to marry whoever they wish regardless as to whether they are of the same-sex or not, though it remains to be seen whether other European countries will adopt the same approach as the UK in protecting such rights. Conclusion Overall, it is evident that the ECHR has recognised the rights of same-same couples for a number of years and has made great attempts to recognise and protect the right not to be discriminated against on grounds of sexual orientation. Nevertheless, it is only recently that the UK has implemented changes to reflect the stance taken by the ECHR by enacting the Marriage (Same Sex Couples) Act 2013. This Act makes it permissible for same sex couples to marry in religious settings. Although the Civil Partnership Act 2004 was said to provide similar rights, these were not considered enough and same-sex couples were still being subject to much discrimination. Since the 2013 Act was implemented, greater equality is now capable of being attained in the UK. The ECHR in Schalk is considered a major breakthrough in this area as this decision is what sparked the introduction of the new law. Nevertheless, because not all countries have followed the same approach as the UK, the ECHR still has some way to go in attaining equality for all. This is likely to prove difficult given the divergence of opinions that exist in this area, yet because the marriage of same-sex couples is becoming the ‘norm’, it is likely that other European countries will follow suit. The fact that ministers are able to choose whether or not to conduct same-sex marriages also ensures that their rights are also being protected. This maintains a balance between the rights of individuals not to be discriminated against on grounds of sexual orientation with the rights of belief and opinion. Bibliography Books Herring, J. Family Law, Longman, 4th Edition, (2009). Lowe, N. and Douglas, G. Bromley’s Family Law, OUP Oxford, 10th Edition, (2006). Probert, R., Family Law in England and Wales, Kluwer Law International, (2011). Standley, K. Family Law, Palgrave MacMillan, 7th Edition, (2010). Troyer, L. Church in Society, Xulon Press, (2011). Journals C F Stychin, ‘Not (Quite) a Horse and Carriage: The Civil Partnership Act 2004’ (2006), Feminist Legal Studies, Springer 2006, Volume 14, Number 1, 79-86. Doughty, S., Conservative UK: Most Britons Still Oppose Gay Marriage, The Daily Mail, (2011), Available [Online] at: http://www.dailymail.co.uk/news/article-2040783/Conservative-UK-Most-Britons-oppose-gay-marriage.html Eireann, D., Parliamentary Debates, Volume 697, Number 1, (2009), Available [Online] at: http://debates.oireachtas.ie/Xml/30/DAL20091203.PDF Francoz-Terminal, L, From same-sex couples to same-sex familiesCurrent French legal issues, Child and Family Law Quarterly, Issue 4, [2009] CFLQ 485, (2009). Matheson Ormsby Prentice, Civil Partnerships and Certain Rights and Obligations of Cohabitants Act 2010, Client Update, (2010), Available [Online] at: https://marketing.mop.ie/rs/vm.ashx?ct=24F76A1FD4AE4EE0CDD881AED12B921991907ABFDA9818CF5AE175767CEAC80BDF417 Norrie, K. Two by Two, by Two, The Journal Online, The Members Magazine of the Law Society of Scotland, (18 October, 2010), Available [Online] at: http://www.journalonline.co.uk/Magazine/55-10/1008759.aspx Peroni, L., Gay Marriage: Unlocking the Door but Keeping it ClosedStrasbourg Observers, (25 June, 2010), Available [Online] at: http://strasbourgobservers.com/2010/06/25/gay-marriage-court-unlocks-the-door-but-keeps-them-closed/ Probert, R. and Barlow, A. Displacing Marriage – Diversification and Harmonisation Within Europe, Child and Family Law Quarterly, [2000] CFLQ 153, Issue 2, (01 June, 2000). Ross, T., Archbishop Attacks Cameron’s ‘Gay Marriage’ Plan, The Telegraph, (2011) Available [Online] at: http://www.telegraph.co.uk/news/uknews/8809548/Archbishop-attacks-Camerons-gay-marriage-plan.html Rothwell, R. Why Civil Partnerships for Heterosexual Couples Could be a Good Idea, The Law Society Gazette, (11 August, 2010), Available [Online] at: http://www.lawgazette.co.uk/blogs/news-blog/why-civil-partnerships-heterosexual-couples-could-be-a-good-idea Sohrab, J., Recognising Aquired Gender, New Law Journal, 154 NLJ 1018, Issue 7135, (02 July, 2004). Tatchell, P., in BBC News, Gay Church ‘Marriages’ Set to Get the Go-Ahead, BBC, (14 February, 2011), Available [Online] at: http://www.bbc.co.uk/news/uk-12442375 The Office for National Statistics, Marriages, (February 11, 2010), Available [Online] at: http://www.statistics.gov.uk/cci/nugget.asp?id=322 Wintemute, R. Consensus is the Right Approach for the European Court of Human Rights, The Guardian, (12 August, 2010), Available [Online] at: http://www.guardian.co.uk/law/2010/aug/12/european-court-human-rights-consensus Cases Bensaid v United Kingdom (2001) 33 EHRR 205 Burden and Burden v UK [2008] All ER (D) 391, Application No 13378/05; (2008) 47 EHRR 857 Fourie and Another v Minister of Home Affairs and Others Application No. 56501/00, 10 May 2001 Niemietz v Germany (1992) 16 EHRR 97 Mata Estevez v Spain Application No. 56501/00, 10 May 2001 McD v L & Another [2009] IESC 81 N and Another v Health Service Executive & Ors [2006] I.E.S.C. 60 Schalk v. Kopf v. Austria [2010] ECHR 30141/04 (25 June 2010) The Attorney General for Ontario v M and H [1999] 2 SCR 3

The native american problem Essay Example | Topics and Well Written Essays - 750 words

The native american problem - Essay Example The Native American has been ridiculed through stereotypes like dirty and savage. For instance, there have been programs aimed that forcing the red Indians from the ancestral lands that they held with high regard for serving cultural and traditional purposes. Many factors contributed to the Native American problem amidst challenges facing the native occupants like poor health, fewer job opportunities, and housing problems among others. The Spanish Native Americans have also been a subject of the Native American problem. Christopher Columbus conquered the natives who were living on Santo Domingo and was also the discoverer of New World which according the natives, was the world they lived (Templeton 1). Christopher Columbus is thus the pioneer to current Native American problem since he kidnaped some Spaniards in the Santo Domingo and took them back with him to Spain. However, the destruction of the colony and killing of the Tainos shows how the rest of perceived the natives of low regards. In this case, the Spanish had oppressed and enslaved the Native Americans in their ancestral lands. History holds that discovery of the New World by Christopher Columbus led to killings of many Native Americans, since they wanted the tribes wiped out (Templeton 1). History holds that the French were a bit lenient to the Native Americans since they ensured that there existed a mutual relationship with tribes. The French had come to America mainly to trade in fur, an activity that was common with the natives. The movie Black Robe shows the good relationship between French and the Native Americans where the French tried to convert red Indians to Catholicism (Templeton 1). The Indians were a bit smarter and the French presumed they were a valuable community. History holds that the English were major mixed reactions to the natives or the tribes in America, and they had less contact with the natives. In this case, the English had less to do with

Personal statement for applying to the University for a masters

For applying to the University for a masters program - Personal Statement Example Business, despite being about give and take, when you trim away all the extra bits, follows certain rules of conduct. This may be dictated by social, cultural, political or geographical influences, or by the nature and type of business itself. My first and foremost priority is to familiarize myself with the different ways of conducting business around the globe. My application to the Masters in International Business program, here at Hult University, is me putting that plan into action. I enjoy interacting with people from diverse cultural backgrounds as well as learning about their customs and practices. I have observed that good people skills alone cannot open the doors to financial success for my business. There is a need for a solid educational foundation alongside a good repertoire with people for a business to be run successfully. The knowledge gained from Hult University, coupled with my people skills, should equip me with the tools needed to excel at international business. O nce the program is over I wish to gain a couple of years’ experience to put into practice what I have learned. The practical experience is probably what my family lacked in expanding and diversifying our business. With the practical experience I gain after the program, I shall be able to increase my insight as to how businesses are run effectively and successfully.

Society's Unhealthy Obsession with Thinness Essay

Society's Unhealthy Obsession with Thinness - Essay Example Before the malady had been studied clinically, people thought that this starving was something religious and some girls would fast for days and weeks at end only to end up either highly ill or dead. Now that we understand the act, it is important to understand the scene. The scene according to Burke is "the background of the act, the situation in which it occurred." We might never know for sure why girls in 18th centuries would starve themselves because there is nothing in the article on the actual reasons for developing anorexia in those days. But in today's society we know for a fact that obsession with thinness is the cause of this problem. With media showing unreal images of thin beauties, many young girls starve themselves to lose weight, both real and imaginary. Doctors have found that these girls do not lack appetite, but simply have "a deathly fear of getting fat". Agent in this case is the girl who is so badly trying to lose weight that she makes herself sick. This girl would usually be a young person, highly impressionable and with a morbid fear of putting on weight. This would be a girl who "wouldn't lick stamps because she was terrified of possible calories". She would still exercise herself to sickness because she simply cannot fathom the problem with her. A young girl with an obsessive desire to lose weight and stay thin is very likely to develop anorexia nervosa. The most detailed part of this article would fall in the area of â€Å"agency†. According to Burke, agency is â€Å"the means or instruments used†. The author has done a good job in explaining how the agent would lose weight. There are more than one ways in which girls suffering from anorexia would keep their weight below the healthy line. Purging is the main instrument. Girls would throw up whatever they ate to at once having the feeling of fullness from eating and the satisfaction of not consuming any calories from the food. There can be other similar habits such as "mixing vinegar in her drinks or lavishing mustard on lettuce salad." Another method is lingering on the food for a very long time, "Anorexics linger over food, drawing out the meal, as people do during times of famine. Prisoners of war had elaborate strategies to make one slice of bread last an hour." The article shows many ways in which we can detect eating disorders in young people around us. It tells p arents to look for warning signs like excessive exercise, little or no food consumption, lingering over food, vomiting, paler complexion and using some specific ingredients like vinegar excessively in their food or liquids. The last is the purpose which according to Burke is the intention for committing the act. If a person is starving herself to death or illness, what possibly could be the purpose As we have already mentioned, the purpose is to lose weight. But this is only partially true because there are many women who would lose weight but not suffer from anorexia. The people suffering from this malady have two purposes a) to lose weight which can often be imaginary, and b) to be accepted by others especially those they idealize. This purpose makes them do weird things to their body and this can lead to serious

Immigration In Relation To Texas Government Research Paper

Immigration In Relation To Texas Government - Research Paper Example In Texas, the immigration reform coalition of Texas is the most notable interest group against immigration into the United States. The interest group supports migration into the United States but on a reasonable level. They argue that although they have no disrespect for immigrants, it is appropriate to notice the rising levels of immigrants. Their claim on this is valid since most immigrants in Texas are from Mexico. It is a common case that drugs infiltrate the border into Texas. The most cases of drugs supplied by immigrants are in border counties like Maverick County. The immigrants not only cause huge population influx but also an increased crime rate (Arnold 40). This interest group, therefore, demands a secured and well defined border. This is on the notion that not all immigrants enter the United States legally. They interest group reiterates that not all immigrants enter the United States with a good intention. Some come with the aim of harming. This interest group wants an overhaul in the immigration policies and laws. They demand that policies should be set up to curb the sanctuary cities. An overhaul of the immigration policies will also derail magnets that draw illegal immigrants into the United States. The Federation for immigration reform (FAIR) is an interest group that seeks to facilitate and broadens immigration policies. It majorly focuses on reforming the immigration policies in America. This is through organizing legislative and political topics across the country. This interest group has been successful in making Congress pass the immigration reform bill. This was after a bipartisan vote in Congress. Clearly, interest groups take a major role in immigration issues. Public opinion plays an important role in immigration issues. It is through public opinion that interests groups develop (Strauss 100). The interest groups influence political parties. It is in line with this that there is a notable chain of relationship between these groups. In Texas, public opinion maintains a clear stand that border security and immigration issues are critical issues to be addressed. A minority in Texas believe that setting up stricter laws and policies will reduce immigration problems. The larger majority, however, maintains that there is the need to reform the immigration laws to accommodate more immigrants. Some oppose amnesty and relate that it is the reason why the immigration laws cannot be well reformed. The questions, in the opinion polls, are simple, clear, and do not influence opinions towards supporting stricter immigration laws. In America, the Republican Party wants stricter laws to be imposed for illegal immigrants. They want sanctions on individuals who hire illegal aliens. The Republicans also want border security enhanced (LeMay 127). They suggest that no amnesty should be granted to illegal aliens. The Democrats, on the other hand, want the United States to have more borders that are open. In Texas, the Democrats are m ostly Hispanic, and it is in line with this that they mostly support open borders and less strict immigration policies and laws.

Freemasons Research Paper Example | Topics and Well Written Essays - 750 words

Freemasons - Research Paper Example In a matter of three decades, the Masonic fraternity had multiplied all over the Old World and the New World colonies. Freemasonry particularly became popular in the colonies of America. Great men in American history, such as George Washington, Benjamin Franklin, Paul Revere and Joseph Warren, became members of the fraternity. Other illustrious Masonic members who participated in the founding of America were John Paul Jones, Lafayette, Nathanael Greene and John Hancock. Chief Justice John Marshall, who was also a Mason, formed the Supreme Court into its modern structure (York 1993). Majority of the Masonic historians and scholars agree that Freemasonry, in its present structure, perhaps developed as an accessory from stonemasons from the Middle Ages through the period until the formation of the Operative Stone Masons Guilds. However, it is still uncertain how or when the conversion occurred from Operative Guild Free-Stone Masonry to scholarly Speculative Freemasonry or those making use of tools of stonemasons, garments and practices as symbolic supports to teach their principles, even though Scottish Lodge Kilwinnings documentations confirming admitted non Operatives by just about 1672 and several Lodges in England were completely non Operative at least by 1646, the time of Elias Ashmole (Jacob 1991). Stonemasons are remarkable. They acquired extraordinary skills to construct the cathedrals, castles and the essential sculpted forms and adornments ordered of their masters. This kind of skill must have looked like almost supernatural to the huge uneducated masses. They were evidently the cream of the crop of the labor force, possessed secret practices and symbols and would have fascinated and attracted several of the most skilled non-educated enlistments (Doan 1993). Though, provided with the intricacy and the focus on morality of the different

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MANAGEMENT AND LEADERSHIP - Research Paper Example Immelt had big shoes to fill but he has carved a niche for himself through his leadership skills and today is one most influential business leaders in the world. Immelt before becoming the CEO of GE had held numerous leadership positions in the company. He had served as Vice President and General Manager for different business division of the company. This paper is aimed at understanding and analyzing the leadership, management and motivational skills of Immelt and how he has used it to take GE to new heights. In the process, the different businesses of the company will be described along with the three major challenges Immelt has overcome in running the company since he has became the CEO. His various leadership skills and strategies can be understood while analysing the challenges. Also the impact that Immelt has had on the world through his vision, business and through other areas will be discussed. When Immelt took over as the CEO he wanted to bring about a cultural revolution in the company. In a company that was process-oriented and hard-driving, he wanted to infuse creativity, bold thinking and hunger for growth into its culture. Also it is to be noted that Immelt took over just a few days before the 9/11 attack, which means that the economic situation in which Immelt started his stint was not an ideal one. It was a great challenge to Immelt to sustain and continue the growth of the company in an era of slow-growth domestic economy, greater global competition and lesser tolerance among investors. In order to achieve his vision of reinventing GE Immelt overcame the following challenges: In order to change the organizational culture that would focus on innovation and creativity, there needed to be a change in thinking. There was very little that Immelt could do single handed to completely change the company and transform his workforce. Majority of the workforce in the company

Management of Selling Case Study Example | Topics and Well Written Essays - 2500 words

Management of Selling - Case Study Example These measures would be particularly helpful because it would gain the co-operation of the sales force during the investigation process, which would provide more satisfactory results. Oldroyd would require the following information: An insight of the highly dissatisfied A and B accounts who are about to move out from the customer list. This would help Oldroyd to know the problems of the company in detail and its product acceptance in the market. By accompanying the sales force to gather this information will not only ensure their co-operation but they would also feel that their boss is by their side in difficult times. Oldroyd will gain confidence of his sales force in this way. The salesmen are sure that the salary would keep on increasing even if they make minimal effort in getting fresh orders as they have spent a number of years with the company which is well above the average duration of stay for sales people in the industry. Hence there is no pressure on the sales force as job security is high. There is no scheme of incentive for those who get the highest number of orders or for those who over perform. There is also no system of cutting some amount of money from the salary due to underperformance. So each month the salary of the sales force is guaranteed even if they under perform. ... The inner feelings of each salesman and their complaints if any. 2. There are many disadvantages in the way the sales force is currently organised. They are as follows: It is difficult to properly monitor the sales force The salesmen are sure that the salary would keep on increasing even if they make minimal effort in getting fresh orders as they have spent a number of years with the company which is well above the average duration of stay for sales people in the industry. Hence there is no pressure on the sales force as job security is high. Sale in the company is due to 10 years of brand reputation in the market and not due to any effort by the sales force. There is no scheme of incentive for those who get the highest number of orders or for those who over perform. There is also no system of cutting some amount of money from the salary due to underperformance. So each month the salary of the sales force is guaranteed even if they under perform. Hence each of them is assured of his own personal income and do not bother about the company's overall growth. Since there is no incentive scheme, in the words of Dive (2005, p. 13) there is "slow reaction to customers and competitions" which results in "quality work not being done.." There is rather unclear or total lack of vision for the sales force. They themselves are not sure where they are heading. 3. In the next six months Stephen Oldroyd can improve the sales performance of his company in the following ways: He should set up a future course of action and communicate it effectively to the sales force. He should demonstrate his best planning skills because the sales department of Supplies-4-Gardens seriously

Comprehensive Geriatric Assessment Essay Example for Free

Comprehensive Geriatric Assessment Essay The geriatric assessment is a multidimensional, multidisciplinary diagnostic instrument designed to collect data on the medical, psychosocial and functional capabilities and limitations of elderly patients. Various geriatric practitioners use the information generated to develop treatment and long-term follow-up plans, arrange for primary care and rehabilitative services, organize and facilitate the intricate process of case management, determine long-term care requirements and optimal placement, and make the best use of health care resources. The geriatric assessment differs from a standard medical evaluation in three general ways: (1) it focuses on elderly individuals with complex problems, (2) it emphasizes functional status and quality of life, and (3) it frequently takes advantage of an interdisciplinary team of providers. Whereas the standard medical evaluation works reasonably well in most other populations, it tends to miss some of the most prevalent problems faced by the elder patient. These challenges, often referred to as the Five Is of Geriatrics, include intellectual impairment, immobility, instability, incontinence and iatrogenic disorders. The geriatric assessment effectively addresses these and many other areas of geriatric care that are crucial to the successful treatment and prevention of disease and disability in older people. Performing a comprehensive assessment is an ambitious undertaking. Below is a list of the areas geriatric providers may choose to assess: †¢ Current symptoms and illnesses and their functional impact. †¢ Current medications, their indications and effects. †¢ Relevant past illnesses. †¢ Recent and impending life changes. †¢ Objective measure of overall personal and social functionality. †¢ Current and future living environment and its appropriateness to function and prognosis. †¢ Family situation and availability. †¢ Current caregiver network including its deficiencies and potential. †¢ Objective measure of cognitive status. †¢ Objective assessment of mobility and balance. †¢ Rehabilitative status and prognosis if ill or disabled. †¢ Current emotional health and substance abuse. †¢ Nutritional status and needs. †¢ Disease risk factors, screening status, and health promotion activities. †¢ Services required and received. The primary care physician or community health worker usually initiates an assessment when he or she detects a potential problem. Like any effective medical evaluation, the geriatric assessment needs to be sufficiently flexible in scope and adaptable in content to serve a wide range of patients. A complete geriatric assessment, performed by multiple personnel over many encounters, is best suited for elders with multiple medical problems and significant functional limitations. Ideally, under these circumstances, an interdisciplinary team representing medicine, psychiatry, social work, nutrition, physical and occupational therapy and others performs a detailed assessment, analyzes the information, devises an intervention strategy, initiates treatment, and follows-up on the patients progress. Due to the intricate nature of comprehensive assessments, many teams designate a case-manager or caseworker to coordinate the entire effort. Most assessments take place in medical offices and inpatient units over multiple visits. If at all possible, however, at least one member of the team (rarely the physician) will attempt to visit the patient at home. Despite the problem of low or no reimbursement, the typically high-yield of information from even a single home visit makes it an extremely efficient use of resources. Most geriatric assessments, performed under the constraints of time and money, tend to be less comprehensive and more directed. Although such modifications are best suited to relatively high-functioning elders living in the community, many practitioners find some version of a directed geriatric assessment to be a more realistic tool in a busy practice. Patient-driven assessment instruments are also popular among geriatricians. Asking patients to complete questionnaires and perform specific tasks not  only saves time, but also it provides useful insight into their motivation and cognitive ability. To the extent that patients are unable to complete the assessment themselves, practitioners resort to traditional patient interview techniques that frequently involve input from a family member or other caregiver. During your upcoming site visits, you will perform a directed geriatric assessment (DGA), ideally with the same patient, over two sessions. In the interest of education, most of your DGA instruments are student-driven, rather than patient-driven, and require relatively little information from caregivers who may or may not be available at the time of your visit. We have divided the DGA in two parts, each with three subsections. In Part I, you will perform an expanded medical interview covering the clinical history, nutritional assessment and a social evaluation. In Part II, you will perform neuropsychiatric, physical and functional examinations. What follows is a reproduction of the History and Physical (HP) format that you will use in your Physical Diagnosis II course next semester. Although all geriatric practitioners do not use a standard assessment format (comprehensive or otherwise), most agree on basic content. The comprehensive geriatric assessment (history examination) following the Physical Diagnosis outline covers the most significant content areas of a prototypical geriatric assessment. As you can see, it moves well beyond the standard HP, which is precisely the point. We have designed it to correlate as closely as possible with the history and physical you will be learning later this year. It is to your considerable advantage to review this information before meeting your patients face-to-face on the site visits. The DGA instrument you will use during your encounter immediately follows this section.

Identify the Individual at Risk of Skin Breakdown and Undertake the Appropriate Risk Assessment Essay Example for Free

Identify the Individual at Risk of Skin Breakdown and Undertake the Appropriate Risk Assessment Essay Upon arriving at the care home, I shut the door behind me, clocked in using my time card and signed the staff log book which is a requirement of the fire safety policy. Prior to starting my shift, I attended the hand over held in the staff office with closed doors to maintain confidentiality and privacy of the residents. The hand over gives me important changes in the residents health and social care needs, requirements and procedures that need implementing during the shift. One of the residents I usually care for is Mrs H who has just come back from a hospital admission. According to her care plan Mrs H was diagnosed with Type 2 Diabetes Mellitus and Chronic Kidney Disease Stage 4 which are predisposing factors for pressure sores. She is bed bound, cannot weight bear and had just undergone Open Reduction and Internal Fixation (ORIF) for fracture on her left tibia fibula which left her immobilised. She is also incontinent of urine and faeces which are all predisposing factors to sore development. As one of her primary carer, I was assigned to carry out a risk assessment for skin breakdown with the use of the Waterlow Scale. I knocked on Mrs Hs room before entering as a sign of respect for her privacy and greeted her good morning. I asked how she is and she smiled which means she is fine as she has difficulty speaking. I asked her if she would like to have her bed bath and she said yes please. I informed her that I also need to carry out a risk assessment for skin breakdown to identify if she is at risk of developing a pressure sore. I explained the procedures that she will expect, the reasons behind these and I asked for her permission to carry on. She obliged by softly saying ok in a very low voice. Before starting the assessment, I gathered all the things that I need. I observed standard precautions for infection control by washing my hands with soap and water and drying them with disposable paper towels. I wore a disposable plastic apron and donned a pair of disposable gloves to prevent the spread and transfer of infection from one person to another. With the help of my colleague, I gently and carefully took off Mrs Hs night dress informing her every step that I make to make her aware and to encourage her cooperation. I kept it in yellow laundry bag as per organisational policy on infection control and prevention. I covered her body with bath towels to maintain her privacy and keep her warm. I washed her face and body with the use of disposable Mediwipes with soap and warm water. I dried her up using the towel to keep her from freezing. I took off her nappy pad and washed her private front part properly and dried her afterwards. Then I informed Mrs H that I need to turn her on her side so that I can wash and examine her back. With coordinated movements from my colleague, we gently and carefully turned her on her side, taking special care not to put any undue pressure on her bad leg to prevent any further injury. I examined her back side taking note of pressure points or bony prominences on her shoulders, sacrum, elbows, ankles and heels. Her skin on her shoulders, spine, elbows and heels look fine but there is a redness on her sacral area which feels hotter than other areas of her skin. I asked Mrs H if she feels any pain in her bottom and she said yes in a very low voice. On her left heel is an abrasion which she developed while she was in the hospital. I washed her back and her bottom gently and dried them up properly as excess moisture can aggravate her skin condition. I put her soiled nappy pad in a plastic bag to be disposed of in the clinical waste bag. I applied aqueous creme on her skin especially on bony prominences to prevent drying. I applied sudocrem on her sacral area to soothe and to protect and help heal her skin. I put on a clean nappy pad on her, put on clean clothes and positioned her on her right side to relieve the pressure on her sacral area, using cushions to make her comfortable. The nurse-in-charge came inside the room to check on her left heel wound and I asked her how to clean it and what dressing should I use for it. She said I can clean it with sterile water and sterile gauze, dry it up and apply Versiva dressing for protection as advised by the tissue viability nurse. I disposed of my gloves and donned on a clean pair. I washed Mrs H wound on her heel with sterile water and sterile gauze, dried it up and applied Versiva dressing. I put on a pressure relief cushion on her left foot to relieve pressure, kept it supported and in a comfortable position. I thanked Mrs H for her cooperation during the procedure. I informed her about the condition of her skin and reassured her that it is well taken care of. I disposed of my apron, gloves and soiled dressings in the plastic bag, tied it and disposed it in a clinical waste bag. I washed my hands with soap and water again and dried it up to prevent the spread of infection.

Foreign Direct Investment Determinants Economics Essay

Foreign Direct Investment Determinants Economics Essay This paper provides a research proposal investigating the question of determinants of FDI in the ASEAN and the SAARC. significant relationships and differentials between potential Macro-economic, country specific and Transnational company specific determinants of Foreign Direct Investment in the ASEAN (Indonesia, Malaysia, the Philippines, Singapore, Vietnam and Thailand) and select SAARC countries (Sri Lanka and India) using data sets from 1990-2011 are identified. The paper ascertained all objectives of the study and conducted a literature review where 32 variables and 32 hypotheses were identified to test the research question. The proposal was critically centred on research design and research method but also the research conducted time frames, weaknesses and bibliographic references which are to be proposed for future research in to the authors research topic. Finding of the study are to be conducted as per the time frame. Furthermore the Author provides definitions of all varia bles in the annexure 2. Or Abstract This study aims at analyzing the determinants of foreign direct investment inflows for a group of European regions. The originality of this approach lies in the use of disaggregated regional data. First, we develop a qualitative description of our database and discuss the importance of the macroeconomic determinants in attracting FDI. Then, we provide an econometric exercise to identify the potential determinants of FDI inflows. In spite of choosing regions presenting economic similarities, we show that regional FDI inflows rely on a combination of factors that differs from one region to another. Design/Methodology/Approach A mixed method approach to research is conducted gathering secondary data from the World Bank Statistics, International Financial Statistics (IFS) of the International Monetary Fund (IMF) and the Global Market Information Database (GMID). Global Market Information Database (GMID), the database of Department of Statistics for each country (Malaysia, Indonesia, Thailand, Singapore and Philippines) and the Bloomberg database. Central bank annual reports of all countries. Furthermore primary data analysis will be conducted post testing where interviews with specialists in the field of Finance and economics will help make meaning to the results. The paper proposes to use a multiple regression analysis method where robustness of results and hypothesis are proven/disproven using ANOVA, Correlations and Model significance. This data will be tested using various statistical packages such as SPPS and visually will be shown to the reader via MS project. Then based on the variables ascertained from literature the hypothesis will be proven or disproven. Furthermore to stimulate the interest of the reader the data will be displayed as much as possible in the research report stage using graphical software such as MS project, Microsoft visio, Mind Mapping software and Matlab. Findings: The following paper is a research proposal and no findings have been ascertained. Research limitations and implications: Certain variables lacked time series data and may prove to have some level of significance on FDI. Certain countries did not have the required data to test Hypothesis. Practical Implications: The finding will be a guideline so that policy planners in emerging markets can use prior to making any type of investment decision related to the markets concerned. Also the paper after the finding will have section on the lessons learnt for each country or region in terms of FDI and it will be catalyst paper for future research and academia. Originality/value The paper extends and expands the knowledge of international capital flows and provides a more nuanced understanding of the importance of internal market dynamism in attracting FDI in the ASEAN and SAARC. Paper type: Research Chapter 1: Introduction 1.0 Background One of the remarkable features of globalization in the 1990s was the flow of private capital in the form of foreign direct investment. FDI is an important source of development financing, and contributes to productivity gains by providing new investment, better technology, management expertise and export markets (Sahoor, 2004). Domestic investment still accounts for the majority of the total investment in developing economies. Foreign investment can only complement this. However, each form of foreign investment plays a distinct and important role in promoting growth and sustainable development, boosting countries competitiveness, generating employment, and reducing social and income disparities. Non-FDI flows may work either in association with FDI, or separately from it. As no single type of flow alone can meet investment needs, it is vital to leverage their combinations to maximize their development impact (UNCTRAD, 2011) Foreign investors are also expected to transfer intangible a ssets such as technology and managerial skills to the host country and provide a source of new technologies, processors, products, organizational technologies and management skills as a strong impetus to economic development (Dr Catherine S.F. et .al, 2011) As per the Ernst young report six factors will shape our world including, Emerging markets increase their global power, Cleantech becomes a competitive advantage, Global banking seeks recovery through transformation, Governments enhance ties with the private sector, Rapid technology innovation creates a smart, mobile world and Demographic shifts transform the global workforce. If we Identify the key emerging markets globally as per a study conducted by Ernst and Young suggests Estimates show that 70% of world growth over the next few years will come from emerging markets, with China and India accounting for 40% of that growth. Adjusted for variations in purchasing power parity, the ascent of emerging markets is even more impressive: the International Monetary Fund (IMF) forecasts that the total GDP of emerging markets could overtake that of the developed economies as early as 2014 also other emerging markets were identified such as . The emerging markets already attract almost 50% o f foreign direct investment (FDI) global inflows and account for 25% of FDI outflows. In fact the largest The brightest spots for FDI continue to be Africa, the Middle East, and Brazil, Russia, India and China (the BRICs), with Asian markets(Thailand, Indonesia, Malaysia, the Philippines, Singapore and Thailand) of particular interest at the moment. By 2020, the BRICs are expected to account for nearly 50% of all global GDP growth (Ernst Young,2011). In fact from the top 20 FDI inflow host countries as depicted in figure 3 China, Hong Kong, Singapore, India and Indonesia are among the top recipients in the world. In fact as per the UNCTADs World Investment Prospectus Survey(WIPS) confirms that developing and transition economies are becoming important investors, and this trend Is likely to continue in the near future (UNCTAD, 2011) Therefore Securing a strong base in these countries will be critical for investors seeking growth beyond them (Ernst Young, 2011). As depicted below in figure 2 shows the FDI inflows both global and group of economies, and it is estimated that in 2014 share of GDP growth in developing countries will surpass that of developed cuntries as shows bellow in figure 2, furthermore as Krugell, 2009 Suggets The spatial distribution of FDI depends firstly on interregional differences in factor and resource endowments. When foreign firms can choose between different regions, cities or towns, they locate in favourably endowed places. Investors also prefer to locate where other firms cluster together. Agglomeration creates a large local market and ensures diverse intermediate inputs and a thick labour market. This generates positive externalities which reduce costs and increase competitiveness and hence attracts investors. . Figure 1 : Top 20, Host recipients of FDI (Source: UNCTAD, based on annex table I.1 and the FDI/TNC database (www.unctad.org/fdistatistics). a Ranked on the basis of the magnitude of 2010 FDI inflows. Note: The number in bracket after the name of the country refers to the ranking in 2009. British Virgin Islands, which ranked 12th in 2010, is excluded from the list) Figure 2: World GDP forecast (World Economic Outlook, Business Source Monitor, 2010) To secure strong base as advised by Ernst Young for investors require an understanding on the history, policy, trends, important lessons learnt from a global context with an emphasis in the South, East and South East Asian regions to understand its investment environment prior to understanding FDI determinants, which will be covered in section 1 of the report. Then the essay will conduct a literature review looking at various benchmark indices that measure FDI performance together with other literature which will help in understanding the location or regional FDI determinant factors at a country specific and regional level. Then the determinants will be tested by model creation for its significance by using data from a variety of reputed sources and testing panel data using OLS regression and a unit root equation using panel data from 1xxx-2010. Then the findings will be done both for a country specific angle and at a regional level. Then a TOPSIS analysis will be conducted to see i f FDI promotes competitiveness. Then the findings will be interpreted and finally the dissertation will be concluded with some considerations for investors/Policy Makers. 1.0.1 History, policy, Trends and Lessons learnt through Global FDI and FDI in the ASEAN and SAARC 1.0.1.1 Global trends and directions in FDI As stimulus packages and other public fiscal policies fade, sustained economic development fade, sustained economic recovery becomes more dependent on private investment, at present Trans National Corporations (TNC) have taken a customary role as private investors (UNCTRAD, 2011). Global FDI rose to $ 1.24 Billion in 2010 from $1.185 Billion, but were 15% below pre-crisis averages. This in contrast global industrial output and trade, which were back to pre-crisis levels. UNCTAD estimates that Global FDI, will recover to pre-crisis level in 2011, increasingly to $1.4 Trillion-1.6 Trillion, approaching its 2007 peak(as per UNCTAD econometric model), this is baring any global economic shocks, that may arise due to a number of risk factors (UNCTRAD, 2011) risk factors especially for TNCs have become critical as unpredictability of global economic governance, possible widespread sovereign debt crisis, fiscal financial sector imbalances, rising inflation, apparent signs of overheating cer tain economies; might derail global FDI. Therefore investors have changed there preferences as the global FDI trends depict below: Developing (including ASEAN and SAARC) and transition economies contributed more than half(52%) of Global FDI flows while its outward flows were also the highest, while intra-regional flows of FDI between developing countries plus TNC were also high. Figure 3 depicts the transition of FDI flows over 3 decades from developed to developing and transition economies (UNCTRAD, 2011). TNC are actively in those countries due to its cost effectiveness and to remain competitive in the global production networks and also since the consumption patterns in the world are shifting (UNCTAD, 2011). 52% to developed and transition countries figure 3: World FDI inflows, global and by group of economies(Source: UNCTAD, based on annex table I.1 and the FDI/TNC database (www.unctad.org/fdistatistics) In the South, East and South East Asia inflows rose in the region by 24% in 2010, reaching $300 Bn, as a result of economic growth, good macro-economic fundamentals and higher commodity prices spurred FDI, figure 4 depicts FDI inflows to the developing economies in the region and it is clear that most FDI flows are flowing to South, East and South East Asia. Figure 4: FDi inflows to developing and transition economies, by region, average of 2005-2007 and 2008 to 2010 (Source: UNCTAD, FDI/TNC database (www.unctad.org/fdistatistics). International production expansion in foreign sales, assets and employment TNCs account for 1/10 of global GDP and 1/3 of world exports. TNC contribute largely as global presence sustains price advantage, cost effectiveness and make them remain competitive with global production networks. Furthermore state owned TNCs account(650 in number) with its affiliate network (8500 in number), their outward investments account for 11% of global FDI flows. Therefore the governance of state owned TNCs have raised concerns of late, the level playing field, national security, regulatory implications for international expansion becomes important for these companies. Understanding their incentives for capital flows is important to understand FDI flows. In 2010, 70% projects(Cross border merger and acquisition (MA) and Greenfield FDI projects) from these were invested in these regions. Mainly FDIs were inherited by BRIC countries in which China and India have gained ground In recent years following rapid economic development in home countries, abundant financial resources are strong motivations to acquire resources and strategic assets abroad. Infact Chinese and Indian companies saw large capital investment beyond their own regions. In fact in 2010, there were seven mega deals(12% of the total inward FDI came from these deals as shown below in table 1 in appendix 2 of this report were done by Chinese companies mainly to the Latin American Region. TNC ROI on FDI is approximately 7.3%, where leverage has shown decline, as proxy by outward FDI stock over foreign assets. Sales over foreign affiliates increased by 9.1%, reflecting strong revenue in developing and transition economies, employment continued to expand, as efficiency seeking investments increased. A new recent development is that TNCs account for nearly 80% of global FDI and TNCs are in the developing world account for 70% of global FDI flows. Strong profits of TNCs in emerging markets were incentives for further investments. Infact 100 of the largest TNC companies of Anglo-American origins gained 93% of their profits from these economies, this includes high EBIT positions for Coca-Cola, Toyota Motor, Unilever, SABMiller, Nestle, Barrick gold, Holcim, British American Tobacco, Nissan Motor, BASF, Honda Motor and Bayer. Even state owned TNCs became important to global FDI contributing largely to global FDI inflows and outflows, the 15 largest state owned TNCs account for large chunk of global FDI. Geographically 56% of State owned TNCs are located in China (50), Malaysia (50) and India (20) are among some top participants. Among them include Volkvagen group, GDF suez, General Motors, CITI group, Tata steel to just name a few. If we consider FDI by sector wise classification, FDI towards manufacturing sector increased while services and primary sector saw declines. Within manufacturing business cycle sensitive industries such as metal and metal products, electronics and wood products saw declines while chemicals, food, beverages tobacco, textile, automobiles showed rapid increases in emerging economies. In fact manufacturing related FDI rose to 23% in 2009 to $554 Billion, this as seen made TNCs more receptive to restructuring in to more profitable and productive units FDI in the primary sector decreased in 2010 despite growing demand for raw materials and energy resources, and high commodity prices. FDI projects (including cross-border MA and Greenfield investments) amounted to $254 billion in 2010, raising the share of the primary sector to 22 per cent, up from 14 per cent in the pre-crisis period(UNCTAD, 2011). Natural resource-based companies with sound financial positions, mainly from developing and transition economies, made some large acquisitions in the primary sector. Examples include the purchase of Repsol (Brazil) by Chinas Sinopec Group for $7 billion, and the purchase of the Carabobo block in the Bolivarian Republic of Venezuela by a group of investors from India for $4.8 billion. The value of FDI projects in the services sector continued to decline sharply in 2010, with respect to both 2009 and the pre-crisis level of activity. All main service industries (business services, finance, transport and communications and utilities) fell, although at different speeds(UNCTAD, 2011). Business services declined by 8 per cent compared to the precrisis level, as TNCs are outsourcing a growing share of their business support functions to external providers, seeking to cut internal costs by externalizing non-core business activities Transportation and telecommunication services suffered equally in 2010 as the industrys restructuring is more or less completed after the round of large MA deals before the crisis particularly in developed countries (UNCTAD, 2011). Figure 5 depicts the breakdown of Sectoral distribution of FDI projects during the 2009-2010 period. Figure 5: Sectoral Distribution of FDI projects (Source: UNCTAD. a Comprises cross-border MAs and Greenfield investments. The latter refers to the estimated amounts of capital investment.) In terms of mode of entry Greenfield investment has become much larger that cross-border M A, however TNCs. Recovery of FDI flows in 2011 reliant on the rise of both Greenfield and MA. as depicted in figure 6 MA and Greenfield projects have increased by 36% to $ 339 Bn as a result of higher stock prices increased the purchasing power of investors to invest abroad, the higher the values of corporate assets in 2010 raised the leverage of investors to undertake MA by using shares in part payment. At the same time the ongoing corporate and industrial restructuring is creating new oppertunies for for cash rich TNCs including those from emerging markets. However the total project value of Greenfield Investments over MA is not surprising as varying conditionality has tilted the favor towards Greenfield projects Figure 6: Greenfield Vs Mergers and Acquisitions (Source: UNCTAD, based on UNCTAD cross-border MA database and information from the Financial Times Ltd, FDI Markets (www.fDimarkets.com). Note: Data for value of Greenfield FDI projects refer to estimated amounts of capital investment. If we consider FDI by component; reinvested earnings grew fast, while equity capital investments and intra-company loans declined, cash reserves of foreign affiliates grew substantially. For example the profits to sales ratio of the United States SP 500 firms, Japanese Firms, Korean firms and developing country firms rose in 2010. However the rise in reinvested earning brought a decline in equity capital, intra-company loans declined as loans were paid back and capital was held for future investments. Given the fact the foreign affiliates hold large retained earnings on their balance sheet, repatriation to their parents become important role in determining the investment flows. Here government policymakers need to take steps. FDI flows in developing economies and transition economies should be treated with caution due to containing some short-term volatile flows, hot money, stabilization of capital flows represents an important challenge to many developing countries. As private foreign capital flows-portfolio investment, bank loans and FDI all contribute to development. But due to the nature of the crisis, official development assistance (ODA) is less prone to fluctuations and is as important to developing countries. But there effectiveness has been questioned on actual development. Private equity sponsored FDI has regained momentum, although it fell of its pre-crisis level. It is directed more towards developing and transition economies as secondary buyouts and smaller acquisitions. Sovereign Wealth Funds FDI declined substantially because of severely reduced investment from the Gulf region. However its long term potential as a source of investment remains. Poorest countries saw declines in FDI flows such as landlocked countries, small island developing countries or certain regions in south Asia. (UNCTRAD, 2011) Figure 5: FDI inflows by component (Source: UNCTAD, based on data from FDI/TNC database (www/unctad.org/fdistatistics). a Based on 106 countries that account for 85 per cent of total FDI inflows during the period 2007-2010. 1.0.1.2 Policy reform in terms of FDI and Macro-economic reform in East, South, South-East Asia The Peoples Republic of China (PRC) and East/Southeast Asian countries have made rapid enhancement in their macroeconomic situations, investment, exports and employment over the decade of 1980s and 1990s through the use of large amounts of Foreign Direct Investment. Similarly private capital, which was long seen with concern and suspicion, is now regarded as source of investment and economic growth in South Asia. Like other developing countries, South Asian economies focus their investment incentives exclusively on foreign firms. Over the last twenty years, market reforms, trade liberalization and intense competition for FDI have led to reduced restrictions on foreign investment and expanded the scope for FDI in most sectors. However, the South Asian countries have been largely unsuccessful in attracting FDI. These countries, jointly and also individually, receive low FDI compared to PRC, Brazil, Singapore and other East/Southeast Asian countries. South Asia received the smallest FDI flows among developing Asian countries, accounting for around 3 percent of the total FDI inflows to developing countries in the region. All the countries in the South Asian region except India have received very little attention and negligible FDI inflows. South Asian policymakers realize that credible efforts for economic reforms in South Asia must involve an upgrading of technology, scale of production and linkages to an increasingly integrated globalise production system chiefly through the participation of Multi National Corporations (MNCs). South Asian countries have many advantages to offer to potential investors, including high and steady economic growth, single-digit inflation, vast domestic markets, a growing number of skilled personnel, an increasing entrepreneurial class and constantly improving financial systems, including expanding capital markets. On top of these advantages, South Asian countries have been designing policies and giving incentives to foreign direct inv estment in several ways (Sahoor, 2006) Till the late 1960s, most of the developing economies, including those of East Asia, adopted closed macroeconomic policies with import substitution industrialization policies, under which self-reliance and indigenous efforts were encouraged. At the same time, a dominant role was assigned to the state in the development process. These import substitution strategies, coupled with the large public sectors, resulted in rent seeking activities and uncompetitive production processes (Bhagawati and Srinivasan, 1975). Therefore, export-led industrialization and liberalization was advocated to make the production process efficient and competitive. Following the export-oriented growth argument (Bhagawati and Srinivasan, 1975 and Kruger, 1975), and the success of East Asian countries with higher exports and economic growth during the period from the early seventies to mid nineties, most of the South Asian countries started opening up their economies from the early eighties. The South Asian econ omies are currently enjoying the benefits of economic reforms, particularly reforms related to trade and investment. These countries undertook reform processes and opened up their economies after having experienced sluggish growth rates throughout the seventies and eighties (Sahoor, 2006 ). Please see appendix 1 for the types of reforms undertaken by SAARC countries. 1.0.1.3 Current trends in the ASEAN and SAARC * to understand the Policy, policy framework or related public institutions for FDI then foreign policy in terms of its automatic routes, government approval, FDI in attractive zones, repatriation of profit, labour regulations applicable to the South, East and South-East Asian Countries have been shown in appendix 1 of this report. à £Ã¢â‚¬ ¡Ã‚ ½Ãƒ §Ã¢â€ž ¢Ã…’à §Ã‚ £Ã‚ »Ãƒâ€œÃ‚ ±Ãƒ ¬Ã…’†º à £Ã¢â‚¬ ¡Ã‚ ½Ãƒ §Ã¢â€ž ¢Ã…’à §Ã‚ £Ã‚ »Ãƒâ€œÃ‚ ±Ãƒ ¬Ã…’†º Figure 6: Various Tables and Graphs (Source UNCTAD, 2011) In 2010, FDI inflows to South, East and South- East Asia increased by 24 per cent, to $300 billion (Figure A of Figure 6). inflows to the ASEAN countries more than doubled; those to China and Hong Kong (China) enjoyed double-digit growth; while those to India, the Republic of Korea and Taiwan Province of China showed decline (table B of figure 6). FDI to ASEAN increased to $79 billion in 2010 breaking 2007s previous record of $76 billion recorded at pre-crisis level times. The boost was driven by large magnitude of FDI inflows to Malaysia (537 per cent), Indonesia (173 per cent) and Singapore (153 per cent) (table A ; annex table I.1). Positive policy at country level fuelled good performance within region, and seem likely to continue to do so: in 2010, Cambodia, Indonesia and the Philippines liberalized more industries; Indonesia improved its FDI-related administrative procedures; and the Philippines strengthened the supportive services for public private partnerships. Singapore the global financial centre and a regional hub of TNC headquarters, has benefited greatly from increasing investment in developing Asia, this accounted for half of ASEANs FDI, recorded record FDI levels of $39 billion in 2010. Due to rising production costs in China, some ASEAN countries, such as Indonesia and Viet Nam, have gained ground as low-cost production locations, especially for low end manufacturing. FDI to East Asia rose to $188 billion, thanks to growing inflows to Hong Kong (China) (32 per cent) and China (11 per cent) (table A). Benefiting greatly from its close economic relationship with mainland China, Hong Kong (China) quickly recovered from the shock of the global financial crisis, and FDI inflows recorded a historic high of $69 billion in 2010. However, inflows to the other two newly industrializing economies, namely the Republic of Korea and Taiwan Province of China, declined by 8 per cent and 11 per cent, respectively. China continues to experience rising wages and production costs, so the widespread offshoring of low-cost manufacturing to that country has been slowing down and divestments are occurring from the coastal areas. Meanwhile China has seen structural transformation shifting FDI inflows towards high technology sectors and services. For instance, FDI in real estate alone accounted for more than 20 per cent of total inflows to China in 2010, and the share was almost 50 per cent in early 2011. Mirroring similar arrangements in some developed countries, China established a joint ministerial committee in 2011 to review the national security implications of certain foreign acquisitions. FDI to South Asia declined to $32 billion, reflecting a 31 per cent slide in inflows to India and a 14 percent drop in Pakistan, the two largest recipients of FDI in the subcontinent. In India, the setback in attracting FDI was partly due to macroeconomic concerns, such as a high current account deficit and inflation, as well as to delays in the approval of large FDI projects;10 these factors are hindering the Indian Governments efforts to boost investment, including the planned $1.5 trillion investment in infrastructure between 2007 and 2017. In contrast, inflows to Bangladesh increased by nearly 30 percent to $913 million; the country is becoming a major low-cost production location in South Asia. Cross-border MAs in the region declined by about 8 per cent to $32 billion in 2010. MAs in manufacturing rose slightly while they declined by 8 per cent in services. Within manufacturing, the value of deals surged in industries such as chemical products ($6.0 billion), motor vehicles ($4.2 billion) and metal products ($1.6 billion), but dropped in industries such as food and beverages ($2.9 billion) and electronics ($920 million) (table D). Greenfield investment remained stable in 2010, after a significant slowdown due to widespread divestments and project cancellations in 2009 (annex table I.8). FDI inflows to East Asia should continue to grow in the near future, and those to South Asia are likely to regain momentum. The competitiveness of South- East Asian countries in low-cost production will be strengthened, and further FDI increases can be expected. Prospects for inflows to the LDCs in the region are promising, thanks to intensified South-South economic cooperation, fortified by surging intraregional FDI. Indeed, countries in the region have made significant progress in their regional economic integration efforts (within Greater China, and between China and ASEAN, for example), which will translate into a more favourable investment climate for intraregional FDI flows. To get a closer picture of the emerging trends in terms of its industrial patterns please refer appendix 2 of this report. (UNCTAD, 2011) 1.2 Problem Statement However despite recent improvements FDI flows have declined in 2012, for the first time Developed nations and nations in transition received more FDI than there Asian counterparts during the recent period which has primarily been as a result of volatility in the markets. The capital surge is exposing developing countries to greater unstability, putting direct pressure on their exchange rate and the low interest rate environment will be hard sustain in the long term (UNCTRAD, 2011). While FDI recovery resumes unevenly, the world wide demand for private productive investment is increasing as public investment, which rescued the global economy from declines in FDI in one country after another. With unsustainable level of debt in many countries, with nervous capital markets, governments must now rein in their deficits and let private investment take over the lead role in generating and supporting recovery. Infact responses by TNCs indicate increasing awareness to invest, and clear priori ty in opportunistic areas but TNCs feel that increased protectionism coupled by regulatory risks have put a brake on capital expenditures. Infact many developed nations require private investment rather than public investment, but TNCs are reluctant to invest due to past FDI performance would seem to warrant(UNCTRAD, 2011). Taking in to consideration the volatility in the markets, TNC investments directed towards the right countries, sectors and the understanding of the current investment environment is pivotal. However current indicies are full of limitations and thus building an index to both understand the current investment environment and reduce the limitations in other indicies is the main problem trying to be solved by this report. 1.3 Objective This study aims to provide an investigation of the determinants significantly affecting FDI flows in to key emerging markets in in East, South and South East Asia. The investigation builds on previous research both from literature conference proceedings and focuses on a variety of determinants including the policy framework of FDI, economic determinants and FDI determinants in relation to business facilitation for FDI. This is a important consideration in the global context for investors. To construct the variables 3 sets of macroeconomic, country specific and transnational company specific determinants of FDI will be used. The empirical assessment will consider econometric models such as Improved Inward FDI Potent

Learning and Development Essay -- Education, Family Participation

â€Å"All people want to be treated with respect, want to be valued and accepted, loved, and cherished, and made to feel they are making important contributions to society and that their wishes and desires are heard and respected (Berg and Steiner, 2003 as cited in Patel, Corter ad Pelletier, 2008, pp 23)†. Parents often feel this way and want to have a say in how and what their child is being taught. Partnerships between educators and families help parents be able to voice their own wishes and desires while allowing teachers and children to be valued, respected and accepted. This literature review will discuss what has been written in regard to family educator partnerships. Reference will be made to a range of literature on the topic of partnerships in a school and centre setting. Rationale for building effective reciprocal relationships with parents and whÄ nau The literature states that partnerships between parents and families helps children feel safe within the learning environment. Porter (2008) discusses how through interactions between parents and educators, educators gain access to knowledge and support and gain a sounding board for any concerns about the child. Children also gain ‘permission’ to develop confidence and trust with the teachers (Porter 2008). With trust and confidence with and in their teacher’s children feel a sense of safety which allows them to be able to engage in learning to their fullest ability. Arthur, Beecher, Dealth, Dockett and Farmer (2007) and Patel, Corter and Pelletier (2008) agree with Porter and add that parents and whÄ nau often have different values and expectations and that partnerships enable all involved to promote the sharing of information to enhance the children’s learning (Patel, C... ... the child’s learning. Educator should endeavour to ensure that the families’ culture is included in the centre or school. Studies have shown us that by included families into centres or schools children’s social and emotional development benefits greatly. Families often experience multiple stress in their life’s these stress can often affect their child’s learning and educators need to be sensitive to family situations. Educators should always maintain professionalism when dealing with parents. Educators should know their boundaries and should never yell or get into arguments with families members. Educators, schools and centres should be regularity reflecting on their own practices and policies. Challenging attitudes and beliefs allows educators to become more open to others attitudes and beliefs and allows educators to form effective partnerships with parents.

The Death Penalty As a Form of Justice Around the World Essay -- Death

The Death Penalty As a Form of Justice Around the World Introduction: The death penalty is a subject that has become very big in the 21st century. Many centuries ago the death penalty is something that was widely practiced in almost all cultures. This revenge sort of action was the only way some old civilizations felt could really prevent criminals from breaking the law. The USA today is almost left alone among nations when it comes to the death penalty and the U.S. government does not have a problem with that. Arguments for the death penalty: Capital punishment permanently removes the worst criminals from society and should prove much cheaper and safer for the rest of us than long term. It is self evident that dead criminals cannot commit any further crimes, either within prison or after escaping or being released from it. Another argument for the death penalty is the cost factor. The state may very well better spend our resources on the elderly, young and the sick rather than the long-term imprisonment of murderers. Execution is a very real punishment rather than some form of treatment. The criminal is made to suffer in proportion to the offence. Although whether there is a place in a modern society, is a matter of personal opinion. There are many arguments why abolishing the death penalty should be done. Some argue the costs are too high, others think it is simply inhumane. I personally could not discount the value of human life because it costs less to kill someone rather that to keep them in jail. I do agree that all human life should be valued equally but that has not happened ever and I don't think it is going to start now. Even in a communist society, people are not equal. It is just the natu... ..."normal" in a sense. In conclusion I would like to say that I don't exactly know how the U.S. Catholic bishops felt about this issue a hundred years ago, but in modern times, death is not always the best way to solve society's problems. I am glad to see that a major influence has spoken out to help abolish the death penalty and I think that is a huge step in the movement. Nothing will ever change unless an influential body urges and persists with teachings of peace and non-violent alternatives. If the death penalty was abolished, I think over time we would in fact see the murder rates decrease as generations of children are raised sensitive to death and violence. Bibliography: www.wikipedia.org [for examples around world] Resource website Ideas after watching Dead Man Walking Emotions after reading Newspaper opinion pieces RE Pink Resource Book Section F

The Importance of Chapter Six in The Turn of the Screw Essay -- Henry

The Importance of Chapter Six in The Turn of the Screw Chapter Six is an important section of The Turn of the Screw, as it involves many of the themes of the story, as well as reflecting its general narrative structure. James' novel is phenomenally complex; it has an incredible ambiguity to it, which allows for some very outlandish and far-fetched ideas to be formulated. A 'theme' can almost be drawn from almost every other sentence, if one so desires. It is deciding which issues have a little more to them than there may seem at first and which are what they appear, nothing more, which is difficult. As with many books of its ilk, over-analysing is a serious essay writing hazard. To take things one aspect at a time, and to begin with the narrative structure. Whilst not exactly a key issue' of the story, the narrative structure can often inŸuence how those issues are revealed and detailed to readers, so still holds some relevance to the essay title. Chapter Six' overall structure is very similar to that of the story as a whole. It begins quietly, after the climax at the end of the previous chapter (as with the main part of The Turn of the Screw after the prologue, which creates a great deal of anticipation) and begins to increase in tension slowly throughout, with a slight lull in the middle, where the narrative becomes very reŸective and introspective, with the Governess writing her thoughts seemingly as they enter her head, creating a somewhat rambling, dense prose. Finally, when readers are least expecting it, the plot suddenly leaps into view once again, creating an exciting žnale ("Then I again shifted my eyes - I faced what I had to face.†¢) which leaves many plot threads open to inter... ... - a Gothic story. This is most evident when Miss Jessel appears across the lake. This is a particularly Gothic image, made all the more vivid in the following chapter, when she is described as "a žgure of quite as unmistakable horror and evil: a woman in black, pale and dreadful.†¢ In retrospect, this makes the end of Chapter Six seem even more Gothic. Chapter Six reŸects many of the key issues of the story, more so than most chapters. However, The Turn of the Screw is a very intense book, and every sentence seems to have hints of some deeper, darker deliberation on the part of James' writing. It is not unusual in this story to have a single chapter that contains a great deal of important information and relevance to the rest of the book - Chapter Six does tend to explore more issues in such a short space than other sections of the story, however.

Dreaming of Time Travel Essay

The reading â€Å"Dreaming of Time Travel† discusses applications of time machine, whether time travel is possible and how time travel can be explained in terms of physics and quantum mechanics. The author highlights such issues as meeting yourself in the past, time as fourth dimension, many-world theory, self-consistency, concepts of wormhole and star trek. It is a matter of fact that human imagination has been always captured by opportunities of time travel as it would give an excellent opportunity to see own past and perspectives for future. Science is interested in time travels the most as it would help to solve historical and scientific conflicts and controversial points. Of course, if people had time machine, they would definitely visit twenty-third century to look for technological advances and to find effective ways of cancer treatment. Nevertheless, time travels may change the past and, consequently, future would be changed as well. You may seven slip out of existence as a result of change. It would be possible to kill Hitler preventing, in such a way, World War II and save millions of innocent deaths. People would be able to participate in historical events shaping them. Moreover, it would be possible to meet historical figures as, for example, Buddha, Moses, Cleopatra or Shakespeare. Actually, there is no limitation of possibilities. Time travel makes people feel free to move around the world, but they may be helpless as they are not acquainted with cosmic order. Nowadays the issue of time travel has become a matter of interest for physicists, not only for fiction writers. For example, when Wells wrote his famous â€Å"The time Machine† many believed that it was impossible to travel through time and space. It is Einstein’s Universe that makes time travel possible and understandable. Therefore, many physicists are actively investigation time travel to the past. In his ideas Einstein uses the concept of time as fourth dimension. This idea is used to show that time can be measured by moving and stationary observers. Therefore, Einstein argues that our universe is four-dimensional. The idea of many-world theory is also very interesting as it offers radical alternative of viewing our world. Many-world theory is based primarily on quantum mechanics developed in the beginning of the 20th century. Quantum mechanics was used to explain the behavior of molecules, atoms and other micro-particles. Quantum mechanics proved that particles had wave nature. It is assumed that people won’t change the pass if they travel because they are a part of it. However, Einstein viewed it as paradox. Therefore, the concept of self-consistency was introduced to explain the possibility of historical changes. It seems that self-consistency is rather controversial to the common sense of free choice and free will. Therefore, time travelers are likely to be constrained being deprived of essential human ability. For example, David Lewis argues that free will never allows people to do logically impossible things. Four-dimensional world doesn’t change as it is viewed as fixed sculpture. Time-travel stories are also based on self-consistency system. In time travel the particles have world line meaning that there is a circle with no ends. Such particles are called jinn. They are claimed to arrive by wizardry as in Aladdin’s story. Often fiction literature involves scientific investigation of time travel. For example, â€Å"Star Trek† fiction encourages further time-travel investigation from scientific perspective. It stresses that it is possible to use warp-drive to ravel in past. Fiction often stimulates scientific thinking. Physicists are the most interested in time travel as they want to test the boundaries and opportunities of physical laws, as well as to patent a time machine. The author concludes that time travel seems so strange for people simple because they aren’t accustomed to meet time travelers in our everyday life. If people meet them everyday, they won’t be surprised. If time travel can occur in principle, scientists will receive new insights about the universal order. Works Cited Gott, J. Richard. Time Travel in Einstein’s Universe: The Physical Possibilities of Travel Through Time. NY: Houghton Mifflin, 2001. 3-32.

Challenges in Pension Reform

CHALLENGES IN PENSION clear up A RESEARCH switch SUBMITTED TO THE capametropolis OF NATIONAL UNIVERSITY IN PARTIAL fulfilment OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF PUBLIC validation NOVEMBER 2012 By James Michael Sandburg Capst maven redact Faculty Advisor Gary Geiler CAPSTONE livelinession APPROVAL FORM I recognize that I count through read the couch of James Michael Sandburg entitled Ch on the whole(a)enges in grant shed light on, and that, in my opinion, it is satis special(a)ory in cathode-ray oscillo image and quality for the degree of Master of tribeal Administ circumscribe at study University. sanction by ___________________________________________________________________ Gary GeilerDate ABSTRACT The purpose of this battleground is to examine the ch exactlyenges see by reality celestial sphere administrators as they grapple with residueoring subvention throws to solvency and sustainability. The objectives argon to research and describe how reality award visualizes pose be get in insolvent everywhere the course of the past twelve eld to contr everyplacet healthy incommodes that situate mend fractious to suggest how to pick reveal piths in concourse the challenge of mending premium visualises through negotiation with collective dicker units to discuss how to chieve subvention rat better without violating constitutive(a) and statutory protections to suggest a center of compensable off un shoped subsidy liabilities. unfunded worldly concern field aid liabilities has become a province bulky worry, with issue forth unfunded liabilities deriveing between 1 and 5 trillion dollars, depending upon investiture return assumptions. subvention problems yield plagued the urban center of San Diego, atomic consequence 20, since the late 1990s. award disentangle became a key comp 1nt dissever in San Diegos 2012 whitethornoral race.The paramount merchant shipdidate stood alone among three c hallengers, as the solo one who beted to recognize the sagametropolis of the effectual implications of bonus reform that im recrudesce be discussed herein. The idea has become astray held that implementing exoteric bounty reform is inseparable to restore premium throws to pecuniary health and sustainability. The premise of this depicted object is that it is possible to fulfil necessary reforms without alienating s dribbleh obsoleteers, and without exacerbating the problem by doing further battle in the courts.In the end, award ab employments tummy be eliminated, driveious rules of subsidy finance advise be sustained, and the universal interest finish be p applyd. TABLE OF CONTENTS CAPSTONE PROJECT APPROVAL FORMii ABSTRACTiii LIST OF TABLES AND FIGURESv Chapter I gettance7 Background7 b some an otherwise(prenominal) pronouncement10 Purpose and Objectives11 Limitations of our Study11 Summary of Remaining Chapters13 Chapter II tri barg unaccompaniede o ffs in Peril14 Chapter III kind protective c everywhere23 Chapter IV Reform suggestions34 Chapter V Legal and love Hurdles43 San Diego subsidy Issues43 ERISA reward Reform47 Contracts Clause48Due surgery & bribe Clause49 The Due Process and Equal Protection Clause49 The Eyes of a Nation whitethorn Be Upon San Diego51 Chapter VI coalition Participation53 The Meyers-Milias-Brown cause (MMBA)53 The national Employment traffic conduct-in (PERB)54 Chapter s evening grant off Obligation Bonds56 Chapter VIII Conclusions and Recommendations62 LIST OF TABLES AND FIGURES 2. 1 Illinois produce seclusion arrangement pose of Return on enthronement.. .. 16 3. 1 Summary data for 2010 and 201119 3. 2 Select Unfunded increment Pension Liabilities. 29 Chapter I Introduction Background.The life cycle in the produces and al just about developed countries is to spend the counterbalance quintuple historic period learning to walk, talk, and deal our bodily fulfilles. We in deed spend a dozen to 16 eld causeing an fosterage and figuring out what we want to be when we grow up. Once we de landmarkine that, about of us then need to hold open with a nonher some(prenominal) old age of discipline to gain an advanced degree or ii, and learn the narrow down skills of our elect byplay. We then spend the next 30 or 40 historic period acidifying 5 or 6 days a week earning a living to comport our families and raise up a raw(a) gene similitudealityn to repeat the process.By this point we ar 60 to 70 stratums old and ready to retire in twain(prenominal) aim of comfort and dignity, without having to work each longer seclusion and our declining eld, they posit. That lasts a nonher dozen years, adjudge or take a ex. The level of comfort and dignity one enjoys during those last years is striped aroundly by the wealth we boast managed to accumulate during the 3 or 4 decades we toiled at those elect professions we spent so umpteen years pr eparing for. For most of us, that wealth consists mainly in some(prenominal)thing modern society beefs a allowance.Because most of us lack the discipline, sophistication, or skills infallible to zeal aside and invest bullion during our working years, the task of accumulating gift monetary resource is left mainly up to our employers, who in turn hire extremely specialized teams of concourse to administer those bounty silver. whatsoever of them do that extremely easy others non so much. Because non all employers offered premiums, in 1935 Congress passed legislation authorizing the federal policy- reservation relation to value workers and their employers, in shift for guaranteeing a fuckingonical gift. That legislation was the loving protection personation. companionable gage de severment was never intended to exchange employer- admitd subventions, or to discourage workers from accumulating their own privacy monetary resource. earlier, the intent w as that complaisant shelter would brook a guaranteed base upon which workers and their employers could build. Employer-provided subsidys argon non gratuities. They ar offered as a protrude of the kale package degestural to inveigle workers to spend 20, 30, or 40 years working for those employers. In the case of social gage, once again, this is not a present however quite a something workers and their employers afford for all oer the entire course of ones working life.As much(prenominal)(prenominal)(prenominal), these premiums argon something to which workers ar therefrom entitled. Entitlement is one of those harm that takes on an save different meaning, depending upon who says the word. nearly wealthy plenty tend to use the term in a pejorative mavin, as if it is something to which recipients be not rattling overimputable. Some sight at the opposite end of the societal ladder toss the word about as if it fabricates a basic rectify that is owed to them by society, like the air they breathe.For our purposes, we use the term to describe a traffic circle of wins one actually does earn through years of working, paying taxes, and fashioning contributions, every directly or as an component part of ones compensation. arouse and topical anesthetic regimen employers provide supports through populace orbit retreat outlines. For primers we pass on explore later, umpteen some other(prenominal) government workers ar not cover by cordial protection, and indeed argon not entitled to sociable warrantor domain assistances. Whether or not these workers be covered on a lower floor kind earnest, their allowances wee been promised as a part of the compensation package by which they were enticed to work for their employers.Pension funds accumulate from three sources employer contributions, worker contributions, and coronation income. Some fixs and local anesthetic anaesthetic government entities mother d one a better line of descent than others, in administering, managing, and contributing to these solitude arrangements. Because award funds frequently accumulate over long periods m, the 20, 30, or 40 years of the employees working life, the largest part of premium funds overhear historically come from coronation earnings. Indeed, typical macrocosm heavens loneliness constitutions passim America assert upon those subsidy funds earning 7. 5% to 8% or to a nifty extent annually.Shrewd investiture strategies shake off often returned fifty-fifty niftyer earnings. besides during the past dozen years, some(prenominal) things rescue blow overred to interfere with such growth. First was the dot-com bubble burst in the resile of 2000. Then came the terrorist attacks of phratry 11, 2001. Then came the ample Recession and mortgage crisis starting in 2007 and escalating over the fol press downs several years. individually of these detailors play an increasingly damaging surface in depleting bounty funds, yet were never anticipated by those who designed and managed the funds, or by the local politicians who featd defy over contributions to the allowance off funds.In some cases, such as in the city of San Diego, city Councils actually chose to take pension holidays to suspend contributions. San Diego promised pension win formula increases in exchange for the privilege of suspending pension formulate contributions. In retrospect such a envision mystifys no understanding whatsoever, but to some it seemed like the right thing to do at the time. In San Diego the employ in the long overtake led to a nationally air s nookydal, involving charges of reckless monetary mismanagement, and preeminent the rude(a) York Times to dub San Diego, Enron by the ocean in 2004. Broder) An audit wrap up in 2006, prep atomic number 18d by a impudent York risk management company, and which comprise the urban center $20 cardinal to prep a r, summarized the problem San Diego officials well-bred and accepted a culture of pecuniary management and topicing premised upon non-transp atomic number 18ncy, obfuscation, and denial of fiscal reality. (Kroll, p. 3) San Diego whitethorn use up garnered the headlines, but was for sure not alone in its bankruptcy to grasp reality when it came to pension finance.San Jose was some other, among myriad cities, that promised enhanced pension benefit formulas without committing to the infallible pension contributions mandatory to survive them. occupation situatement. Unsupport promises, unitedly with investment funds losses, unsuccessful projected earnings, skipped contributions, and even in completed expiryrate assumptions, feature trust pension objects in crisis in climb uply every demesne and local government throughout the join tells. There atomic number 18 a some excommunications, of course, but calls for pension reform be rapidly becoming devoutly uni versal.reality sector pensions provided to employees of introduce and local governments, like all other forms of government worker compensation, are paying in large part from tax revenues, which suggests to some that taxpayers should control something to say about them. In actuality, that whitethorn not be the case, any much than than than taxpayers should cipher direct control over salaries or other employment benefits. Nevertheless, the semipolitical process in both San Diego and San Jose, calcium, brought scan pension reform proposals to local voters in 2012.Proposals call for slashing benefits, and even elimination of specify benefit pension computer programs. beneathstandably, such ideas have met considerable opposition from employees and the unions who represent them. The accompaniment that these are the 8th and 10th largest U. S. cities look uponively, convey that all demesnes and political ramifications approach standardised fiscal problems testament be paying adjacent attention to what happens in these two California cities. In the process there has been a lot of finger pointing, for the most part at savvy unions, as politicians and city leaders are slow to admit their own roles in the creation of the crisis.Closer interrogatory whitethorn suggest that labor unions are less culpable than the politicians are free to admit. Purpose and Objectives. The purpose of this exact is to explore some of the challenges in pension reform. We attain suggest some guidelines for bringing stakeholders together to deal with the problem. Finally, we leave behind suggest a possible solution to the financial crisis faced by states and their political subdivisions stemming from widespread unfunded pension liabilities. Limitations of our Study. We have not foregone into excruciating detail regarding San Diegos pension scandals, though it may have been interpretative to do so.Neither have we discussed uncounted one million million millions of dollars in wasted court-ordered fees that stemmed from confrontations that power have been avoided, had the city of San Diego taken a more cooperative approach toward labor. musical composition relevant to the present discussion, these details were a bit beyond the scope of this tuition. We looked at a thirteen pension jut outs as a representative sample. Twelve of these were chosen specifically because they were held out as be exemplary in the late 1990s, to support the idea that national retreat forms transcend genial bail.A number of these inventions were highlighted in a Pew form study suggesting that kind security should be privatized, quite an than run by the federal government. It is noteworthy that, with the exception of just one, all of these non-FICA pension schemas are nowadays in serious trouble. another(prenominal) syllabus was s choose to illustrate just how undischarged off one State pension transcription had become, infrascoring the magnitu de of the nationwide problem. We did not study the intricacies of to each one broadcast to discuss why they have together amassed hundreds of millions, or even trillions of dollars in unfunded pension liabilities.We presume the reasons were common among them all, and that they represent the bulk of general sector pension plans in trouble today throughout the linked States. We alike did not go into great detail to examine the mavin non-FICA plan that has managed to operate for several decades without a dime in unfunded pension liabilities. The Galveston County utility(a) to kind security plan is quite a unique among globe sector pension frames, with only two neighboring Texas counties following its lead. The plan deserves further study, but this is beyond the scope of our presentation. tacit if its ad excerption were to become wide accepted in the rising, however, it would not maneuver current issues faced by the nations other public sector solitude systems. Additio nally, this study does not examine to examine the legislative travel that may be involved in making any solution work. The U. S. Supreme motor inn has had comminuted to say on the put forward of modern pension reform, but we can expect that to change in the nearly future as current challenges to State and local pension reforms become their delegacy through the court system.Stay tuned, as it is only a guinea pig of time earlier the nations highest court will have an opportunity to weigh in on the topic. Summary of Remaining Chapters. In Chapter I we have introduced the concept of pensions, and their place in society as something to which workers are entitled. We have noted that in todays tight fiscal environment, State and local governments have become challenged to quell providing pensions. Chapter II discusses the widespread character of the problems leading to the call for pension reform nationally. In Chapter III we put well-disposed protection in perspective.Chapter IV touches upon some of the proposals put forth in the political processes of 2012. Chapter V notes that there are sub judice and even ingrained implications standing in the fashion of draconian pension reforms. In Chapter VI we discuss bringing unions on jury to seek solutions in coope ration with management, rather than keep in a pattern of confrontation. Chapter VII discusses one creative centering to negociate widespread unfunded pension liabilities, and suggests a way to make it work for the benefit of everyone involved. Chapter VIII closes by offering our conclusions and recommendations. Chapter II Pensions in PerilThere has been much talk in recent months concerning pension reform. At issue is the fact that defined benefit pension plans are unfunded to an solemn degree. This is certain nationwide. State and municipal pension funds in many state and local governments currently have less than half(prenominal) of the assets needed to control their obligations to curr ent and future retirees. The Stanford Institute for Economic Policy search conducted extensive research on California public pension systems, releasing its report in February, 2012. They analyzed the 24 of the largest public pension systems in 20 California municipalities.While most pension systems nationally pass financial reports assuming long term investment returns of near 8%, the Stanford study applied a more buttoned-down estimate of 5%. Authors of the Stanford study, Evan Storms and Joe Nation, PhD. , make the alarming finding that these 24 systems, in aggregate, are only 53. 6% funded. To illustrate the issue, as of 2010, the San Diego city Employees solitude corpse (SDCERS) had increase liabilities of $9. 871 gazillion. This estimate is base upon Stanfords fictitious discount rate of 5%, a more conservative estimate than the 7. 75% apply in SDCERS official projections.The higher(prenominal)(prenominal) the sham rate of investment return, the lower the liabilitie s appear. Sugarcoating the issue by making wild assumptions may at long last make the matter worse. This is money ask to meet the obligations collectible current retirees, as well as to meet vested benefits already earned by current employees. To meet this nearly $10 one million million million obligation, SDCERS has assets only approaching $4. 4 one thousand million. This represents a reinforcement ratio of only about 44. 4% of the amount needed to fulfill the citys promises to its employees. harmonise to Stanfords research, the urban center of San Diegos 2010 unfunded obligation was $5. 489 million. Storms & Nation, p. 38) The County of San Diego was similarly situated, with assets of nearly $8. 2 gazillion to meet accrued liabilities of $15. 693 billion, a famine of nearly $7. 5 billion. (Storms & Nation, p. 28) The urban center and County of San Diego are by no core unique in the state. The four pension plans for the urban center and County of Los Angeles have assets amounting near $70 billion and accrued liabilities of over $90 billion, a $20 billion shortfall. (Storms, pp. 19 and 23) The metropolis and County of San Francisco has assets of close to $16 billion against liabilities of well over $26 billion, or a bit over $10. billion in unfunded liabilities. (Storms & Nation, p. 22) The Stanford study allow the 24 largest county and municipal pension systems in the State of California and reveals a total aggregate unfunded financial obligation of $135. 7 billion. This represents approximately 46. 4% of the total accrued liabilities of these 24 city and county pension systems. (Storms& Nation, p. vii) The Stanford study examined 2010 results, and suggested that long term investment assumptions in excess of 5% should not be relied upon.On July 21, 2011, the San Diego County Employees hide apart Association (SDCERA) announced preliminary investment results for fiscal year 2011. SDCERA had managed an expectant 21% gain. This amazing return added $1. 6 billion to the SDCERA pension fund. Surely the SDCERA Board should be commended on such outstanding results. A few such years can do wonders in restoring this particular fund to health. But just as surely, such results cannot be anticipate to reach out each and every year. Neither can other funds rely upon such results. Indeed, few have ever done so well.In 2012 the SDCERA fund realized investment income at the rate of only 6. 5%. While most State loneliness systems have report billions of dollars in unfunded liabilities, Illinois may be the poster sister of sickly State sponsored pensions. As of 2011, the 5 Illinois State pension plans report financial backing ratios of only 43%, with a total unfunded pension obligation of $83 billion. The shortfall in 1996 was only $20 Billion. In the intervening 15 years the unfunded liability multiplied 4 times, from 20 Billion to over $83 Billion, well over $4 billion each year, on fairish. The nearly $64 billion h eadway How did this happen?This question was studied recently by the polite commissioning of the Commercial monastic order of Chic ago. investment losses, resulting mainly from the mortgage crisis starting in 2007, are estimated by the citizens committee report to account for nearly 22% of the shortfall. (Civic Committee, p. 11) Investment returns play the major(ip) role in pension fund growth, but they are unpredictable, as illustrated in the following chart, taken from the Civic Committee of the Commercial Club of Chicago report on the Illinois State hideaway system another(prenominal) major invasion comes from changes in actuarial assumptions, callable to an improvement in deathrate pass judgment.This phenomenon may be good for life damages policy companies, paying less in death benefits, but defined benefit pension annuities woo more to fund when people are judge to live longer, since retirees will collect their pensions for longer periods of time. The centres for Disease authorisation and Prevention recently report that, In the most recent period from 1969 to 2010, momentous progress in the vetoion, diagnosis, and treatment of cardiovascular diseases likely contributed to the 41 part eliminate in age-adjusted fatality rate. (Hoyert) The drop in mortality rate has been quite prominent. For all but the oldest age group (85 years and over), mortality risk fell more than 50 percent between 1935 and 2010. . . For persons 6574 years of age, death rates declined by 62 percent, go death rates decreased by 58 percent for those 7584 years of age, and declined 38 percent for persons 85 years or more. (ibid. ) Applying these statistics to pension plans, oddly defined benefit plans with cost of living adjustments (COLAs), it only stands to reason that the costs to keep the retreat checks stream to retirees who are living longer, will have a major impact on pension funds.According to the Chicago study, in 1970 a 60 year old was expected to li ve to the age of 78. By 2007, however, a 60 year old was expected to live to the age of 82. 5. Paying benefits to a 60 year old retiree receiving a pension of $50,000 per year, therefore, has thus increase by over $225,000, estimating that he will be receiving that benefit for about 4. 5 years longer than competency have been the case 40 years ago. much(prenominal) variances, multiplied across the hundreds of thousands of articipants in the state pension plans and without corresponding increases in employee contributions, can have a significant impact on the plans unfunded liabilities. (Civic Committee, p. 14) The corresponding phenomenon can be applied to other pension plans throughout the get together States. Couple alter mortality factors with minify investment earnings, and ruinous losses resulting from the neat Recession. Add to this the fact that states and municipalities are likewise suffering from dramatic the tax revenue reductions. It quickly becomes perspicuo us that pensions are in peril.The Civic Committee report states that, If Illinois fails to extension its pension system through a set of world-wide and lasting reforms, all of its citizens will ultimately suffer. Participants in the underfunded pension plans will be put at risk. The states ability to provide vital public work will be gravely hampered. And a growing financial heart and soul will be chit-chatd on Illinois residents. (Civic Committee, p. 1) Official reports from pension funds throughout the country estimate unfunded liabilities totaling close to a trillion dollars as of mid-2011.That figure, however, is based upon future average investment earnings at the rate of approximately 8%. While there have been years in which pension systems have come through such a return, or even greater, to rely upon such returns long term, in todays tight economy, may seem unrealistic. Accordingly, such an assumption grossly understates the magnitude of the problem. In July of 2010 t he National Center for Policy Analysis estimated unfunded public pension liabilities throughout the United States in excess of 3. 1 trillion dollars. collins & Rettenmaier) Even this estimate may be optimistic. In July of 2012, Andrew Biggs, Ph. D. , a scholar with the American Enterprise Institute in Washington, D. C. , released a report suggesting a more accurate calculation for public sector unfunded pension liability may be closer to $4. 6 trillion. (See Table 1) The wide differences among these estimates are accounted for by investment returns, or discount rates, that are more or less optimistic. Andrew Biggs empathizes pension accounting. He was erst patch Principal Deputy Commissioner of the genial bail Administration.Dr. Biggs holds Masters degrees from Cambridge University and the University of capital of the United Kingdom, along with a Ph. D. from the London School of Economics. (Biggs) Whether the actual number is 1 or 5 trillion, either number represents a seemingly insurmountable crisis for public pensions in the U. S. Faced with such a situation, governors, county administrators, mayors, and city councils throughout the nation are seeking creative solutions to diele their part of the shortfall. The urgent call for pension reform has reached crisis pro per centums in many State and local governments.During the presidential master(a) resource in June of 2012, the cities of San Diego and San Jose, California, introduced balloting respects seeking voter empowerment to reform the pension plans of their respective municipal employees. In both cities the ballot measures were passed by an overwhelming legal age of voters, though one powerfulness wonder whether the voters were copiousy informed. On June 22, 2012, San Jose mayor Chuck Reed hand delivered a letter to the U. S. Treasury plane section summarizing his citys fiscal problems as follows San Joses cost for seclusion benefits has gone from $73 million ten years ago to $245 milli on this year.To cope with this increase, we have decrease our work force from 7400 to 5400 employees. We also do many organizational changes to be more efficient, and every employee in the city took a 10% cut in pay. Yet, our unfunded liabilities for hideaway benefits continue to grow, and we are approach rising costs for at least(prenominal)(prenominal) another decade. Short of bankruptcy, we have a very curb range of steps we can take to control hideaway costs. In addition to layoffs and pay cuts, we can require our employees to pay more for the cost of their benefits.Hundreds of cities in California and in other states have already done so. kickoff in June 2013 our employees will have to pay an redundant 4% of their pay towards unfunded pension liabilities. That amount will increase annually until it reaches 16% of pay or 50% of the cost of unfunded liabilities. San Diego and San Jose scantily represent the tip of the iceberg. The problem, as Mayor Reed suggested, is n ational. Most State and local government pension programs today sense the need for some form of pension reform. Some have been quick to lodge the problem on the greed of labor unions.Labor unions have a responsibility to represent their processs, and to bargain for the best possible terms and conditions of employment, including pensions. But the unions are not the ones who issue the checks or manage public pension funds. Labor unions do not withdraw to take pension contribution holidays. The most highly compensated public employees, those victorious the largest pensions, are often not delineate by unions. So while unions make wonderful scapegoats, the most grievous of pension abuses that have brought public sector pensions to the brink of insolvency may not lie with unions or their instalments.Assigning blame to either f work does little to address the problem, and it is not within the scope of this report to point fingers at anyone. Rather we hope to point the way toward a workable solution. Before looking at proposed or potential solutions we should first understand the role of loving guarantor. While many public sector employees are not covered under well-disposed Security, nevertheless, by natural equity their public retirement systems are call for to provide benefits that are at least alike(p) to those provided by amicable Security. Chapter III amicable SecurityNo discussion of pension reform can be complete without an understanding of amicable Security, the basis of pension protection for the large majority of American workers, though for certain not all. On August 14, 1935, Congress passed H. R. 7260, which came to be know as the affable Security subroutine, signed into law by President Franklin Delano Roosevelt. The intent was to provide a level of sparing security in the wake of the Great Depression, providing protection for workers and their dependents against the loss of earnings due to deterioration, retirement, or death.The preamble of the social Security figure out describes it as, An act to provide for the general welfare by establishing a system of national old-age benefits, and by enabling the several States to make more adequate planning for aged persons, blind persons, dependent and halt children, maternal and child welfare, public health, and the judicatory of their unemployment compensation laws to establish a loving Security Board to raise revenue and for other purposes. When first introduced, loving Security covered most private-sector workers. Excluded from reporting, however, were state and local government employees. Prior to 1951, State and political subdivision government employers were not required to participate in favorable Security, due to concerns over the innateity of imposing federal taxes upon supreme state governments. The neighborly Security Act was amended in 1950 to add role 218.This amendment authorize voluntary State friendship through Section 218 Agreement s, so named later onwardswards Section 218 of the Social Security Act The Commissioner of Social Security shall, at the predication of any State, enter into an agreement with such State for the purpose of extending the amends system established by this title to services performed by individuals as employees of such State or any political subdivision thereof. 42 U. S. C. 418 (a)(1) Prior to 1983, proceed familiarity under Section 218 Agreements was optional, with States having the right to withdraw from those agreements.Beginning in 1983, however, those public employers which were fighting(a) in Social Security were required to continue that exponentiation. The city of San Diego was among many local governments that opted out of Social Security in 1982, precedent to the efficient date of that change in the law. passim the United States today there are approximately 86,000 public employers, with 23 million public employees, according to the Social Security Administrations State and local anaesthetic Government Employers Information webpage.Approximately 5 million of those government employees work for public entities that do not participate in Social Security, but rather provide reportage under public retirement systems group meeting stringent strong harbor requirements. Under current law, Social Security coverage is extended to include employees of state and political subdivisions, unless they are covered under a retirement system that provides benefits that are parallel to those procurable under Social Security.The honest harbor requirements are spelled out in Title 26 of the Code of Federal Regulations, otherwise cognize as the intrinsic Revenue Code Under section 3121(b)(7)(F), affiances of an employee of a State or local government are for the most part loose to tax under FlCA after July 1, 1991, unless the employee is a member of a retirement system hold by the State or local government entity. This section 31. 3121(b)(7)2 provides rules for determining whether an employee is a member of a retirement system.These rules more often than not treat an employee as a member of a retirement system if he or she participates in a system that provides retirement benefits, and has an accrued benefit or receives an allocation under the system that is parallel to the benefits he or she would have or receive under Social Security. In the case of part-time, seasonal and temporary employees, this stripped retirement benefit is required to be nonforfeitable.In simple terms this way that public employers who do not already voluntarily participate in Social Security under a Section 218 agreement, moldiness now do so unless they provide benefits under a public retirement system which are at least as comprehensive and beneficial as those provided under Social Security. This is not a discretionary item, where a public employer may give its employees an option to participate or not. The employer mustiness either participate in Social Security, or provide its employees with a retirement system that provides benefits which are comparable to(predicate) to the benefits he or she would have or receive under Social Security. Another consideration is that Social Security OASDI benefits include a great deal more than a simple retirement plan paying retirement income to its participants. Social Security also offers income to a workers dependent children until their age 18. There is also a disability income insurance policy element within Social Security, which is either non- knowent or difficult to provide under a typical 401(k) style plan. 401(k) plans are investment vehicles that require the element of time in order to grow. constipation can bam at any time, and may not wait for a workers 401(k) plan to gain adequate resources.Disability income insurance costs are occupationally based. The greater the physiological demand upon the worker, and the more hazardous an occupation is, the greater the cost to prov ide insurance coverage. Sanitation workers and safety employees, police officers and firefighters, for example, face physical demands and hazards that do not exist for clerical workers and executive level division heads. To replace the disability benefits guaranteed under Social Security through a plan of insurance, whether self-funded or through commercial insurers, would add a tremendous drain upon the resources of a delineate division plan.In contrast, Social Security spreads that risk across all workers nationally, irrespective of occupational hazards. In the private sector nearly all employees are subject to payment of Social Security payroll department department taxes under the Federal redress Contributions Act (FICA), and worthy for coverage under Social Securitys Old-Age, Survivors, and Disability amends (OASDI). But approximately 5 million public employees in the United States are exempt from Social Security coverage, since their employers opted out of Social Secur ity before 1983.As discussed above, world employees may be exempted from Social Security, provided they are members of a retirement system bear oned by a state or political subdivision. To be exempt from Social Security coverage, the retirement system must provide certain stripped retirement benefits. To meet the minimum requirement, IRS regulations require that a retirement system provide benefits to the employee that are comparable to those provided in the Old-Age portion of the OldAge, Survivor, Disability Insurance (OASDI) program under Social Security. IRS earthly concernation 963) in the public eye(predicate) employees who participate in a retirement system that meets the minimum requirements are said to have safe harbor. Such a retirement plan may be either a defined benefit or a defined contribution plan, but benefits derived from the plan must be comparable to those procurable under Social Security. In other words, any public pension plan that fails to provide retirem ent and disability benefits at least as good as those provided under OASDI, also fails to exempt the pubic employer from participating in Social Security.Drastic changes to public retirement systems may disqualify municipalities from continued safe harbor. Another consideration those queasy for reform may be bossy is that this is an all-or-nothing proposal. Cities imposing major pension reforms limited to current hires may find that the new employee plan fails the safe harbor test, thus requiring Social Security participation from all employees, including those not previously covered. While this frame to be tested in the courts, the law seems pretty clear on this issue. Social Security has had its detractors from its very beginnings.Many people have believed private investment strategies could produce greater financial security than the government run Social Security program. Some have called for Social Security Privatization. In 1997, William Even and David MacPherson published a study that examined 7 public retirement systems not participating in Social Security, referred to as non-FICA plans. The study suggested that these 7 plans would provide greater retirement benefits than Social Security to the million covered employees. (Even MacPherson) In 1999, the Cato Institute published the Cato cypher on Social Security Privatization.This study examined several other non-FICA public retirement systems administered by local governments, including the San Diego metropolis Employees retirement system of rules (SDCERS), the mom instructors privacy trunk, the lah police hideaway System, the atomic number 57 Firefighters seclusion System, the Public Employees seclusion System of Ohio, the secondary platform for Galveston County Employees. (Lips) At the time of these studies, each of the dozen retirement systems featured in were thriving, and reportedly capable of providing far greater benefits to their beneficiaries than would have been available un der Social Security.They were spotlighted to illustrate that such funds were outperforming Social Security as a means of providing retirement security for public employees. In Chapter II we constituteed that as of 2011, according to a report published by the Stanford Institute for Economic Policy Research, the San Diego City Employees privacy System (SDCERS) only had assets of $4. 4 billion to cover accrued liabilities of $9. 871 billion, an unfunded liability of $5. 489 billion. Due to differences in projected investment returns, these figures differ dramatically from the official song released in SDCERS financial reports.SDCERS reports their unfunded liability at under $2. 2 billion. any way you slice it, whether $2 billion or $5 billion, this is a great deal of money for any single municipality to come up with. Whichever figure you pick to accept, the fund is no longer the levelheaded pension system it was at the time of the 1999 Cato study. The SDCERS fund was then conside red among the best public employee retirement systems in the country, an example used to promote the idea of Social Security privatization. Today it has an unfunded pension liability approaching 56%. Select Unfunded Accrued Pension Liabilities Non-FICA Public solitude System UAL (billions) Funded Ratio % 1 San Diego City Employees Retirement System (SDCERS) 2. 1 68. 5 2 Los Angeles City Employees Retirement System (LACERS) 3. 7 72. 4 3 Maine Public Employees Retirement System (Maine PERS) 4. 1 66. 0 4 Ohio Public Employees Retirement System (OPERS) 67. 8 63. 0 5 State Teachers Retirement System of Ohio (STRS Ohio) 40. 6 58. 8 6 Colorado Public Employees Retirement System (PERA) 30. 0 7 Nevada Public Employees Retirement System (NVPERS) 10. 9 70. 2 8 California State Teachers Retirement System (CalSTRS) 65. 69. 4 9 Massachusetts Teachers Retirement System 13. 6 58. 7 10 Louisiana constabulary Retirement System 0. 3 55. 6 11 Louisiana Firefighters Retirement System 0. 4 74. 3 12 The alternate(a) Plan for Galveston County Employees 0. 0 100. 0 239. 0 With the exception of one, each of the other public retirement systems cited in the 1997 and 1999 studies are today veneer massive unfunded liabilities. Based on their own 2010 or 2011 financial reports, 10 of those 11 retirement systems are go about total unfunded accrued actuarial liabilities (UAL) of $239. 0 billion. 1.As of June 30, 2011 the unfunded actuarial liability (UAL) of the San Diego City Employees Retirement System (SDCERS) was 2. 1778 billion, a funding ratio of 68. 5%. Those are SDCERS own estimates. As shown above, however, reducing the assumed investment income rate to 5% changes the funding ratio to 44% and suggests an unfunded liability of between $5 and $6 billion. 2. The Los Angeles City Employees Retirement System (LACERS), administers pensions for employees of the City of Los Angeles, a city with an annual budget of near $7 billion. As of April, 2012, the fund reported $27 billion i n unfunded pension liabilities. source http//www. calwatchdog. com/2012/04/30/los-angeles-teeters-on-the-brink-of-bankruptcy/ 3. As of May 24, 2011, the Maine Public Employees Retirement System (MainePERS) reports an unfunded accumulated liability (UAL) of $4. 1 billion in the MainePERS State/Teacher Plan, amortized at a 2-year cost of $689 million on top of normal contributions of $159 million. as reported by letter to Senator Richard Rosen and Representative Patrick downpour of Maines Joint Standing Committee on Appropriations and Financial Affairs, May 24, 2011 4.As of April 2, 2011, the Ohio Public Employees Retirement System (OPERS), with its 5 pension plans, including the Highway Patrol Retirement System, the Ohio Police and Fire Pension Fund, the Ohio Public Employees Retirement System, the State Teachers Retirement System, and the School Employees Retirement System, has a total unfunded pension liability of $67. 8 billion, against assets of $115. 5 billion. That makes Ohios pensions only 63% funded. source http//sunshinereview. org/index. php/Ohio_public_pensions 5. The State Teachers Retirement System of Ohio (STRS Ohio) reported an unfunded liability of 40. 5 billion, as of November 10, 2011. https//www. strsoh. org/ On kinfolk 26, 2012 Ohio Governor Kaisich signed the Ohio pension reform bill passed by the Ohio Legilature on September 12, intending to improve the financial condition of its five Ohio pension systems. The bill continues to support Ohios specify proceeds Pensions as major economic drivers for the state, and providing a stable retirement income for public workers in Ohio. https//www. strsoh. org/legislation/main. html At Ohio State University, aptitude contribute 10% of their salary to the retirement plan, while the university contributes 10. % of the faculty members salary to his or her retirement plan. An additional 3. 5% of salary is contributed to STRS to reduce unfunded liabilities. http//hr. osu. edu/benefits/rb_strs. aspx 6 . The Colorado Public Employees Retirement System (PERA) faced a 30 billion unfunded liability in 2010. 7. The Nevada Public Employees Retirement System (NVPERS) has assets of $25. 8 billion, and has generated a net return of 9. 3% over its 28 year existence, exceeding its actuarial objective of 8%. That sounds great, until you realize that returns over the past 5 years average closer to 2. %. The Nevada PERS estimates its funded ratio at 70. 2% for 2011, its lowest level since its 1992 inception. This leaves the plan with an unfunded liability of 10. 95 billion. 8. California State Teachers Retirement System (CalSTRS), 152. 2 billion in assets, as of June 30, 2011, had an unfunded liability of $65. 5 billion, representing a funding ration of 69. 4%. source Pensions Investments Research Center, April 9, 2012, available at http//www. pionline. com/article/20120409/REG/120409899 9. The Massachusetts Teachers Retirement System has one of the lowest cost o taxpayers, with employees req uired to fund the greatest portion of their own retirement. New employees pay 95% of the cost of their pensions. But the system still faces an unfunded pension liability of $13. 6 billion against assets of 19. 4 billion, in 2009, with a funded ratio of just 58. 7%. 10. The Louisiana Police Retirement System is a small system with assets of only $360. 9 million, but its unfunded liability is $313 million. Its funded ratio is only 55. 6%. 11. The Louisiana Firefighters Retirement System, as of June 30, 2011, had an unfunded actuarial accrued liability of $416,177,743, against assets of 1. billion. This fund has a funded ratio of 74. 33%, which is very good compared to the rest of Louisianas retirement systems, facing a total shortage of 18. 5 billion, with a funding ratio of 56%. 12. The Alternative Plan for Galveston County Employees is unique among the reviewed plans, claiming no unfunded pension liability. This plan was pattern after Social Security, calling for the same level of contribution as with Social Security, from the employer and the worker alike. The plan also incorporates an insurance element that improves on the theme from Social Security.In addition to retirement benefits that a near double those of Social Security, Galvestons Alternative Plan pays a death benefit equivalent to four times a workers annual salary. deuce neighboring Texas counties adopted similar retirement plans in 1983. The Galveston model stands alone among all of the public retirement systems include in the 1997 and 1999 studies used to support the idea of privatizing Social Security. Galveston Countys approach seems worthy of further study and emulation, as a plan fair to participants, employers, and taxpayers alike.Chapter IV Reform suggestions In the past dozen years, since the disaster of 9/11/2001, and especially since the mortgage attention meltdown in 2008 and 2009, pension reform has become an increasingly pressing issue. Some municipalities, including San Diego, and San Jose, California, have passed ballot measures calling for pension reform. These were known as prompting B in San Diego, and Measure B in San Jose. San Diego and San Jose are the 8th and 10th largest cities in the U. S. respectively, so what happens in these communities with respect o pension reform will gain the attention of all cities throughout the nation that are seeking solutions to the problem of unfunded pension liabilities. San Diegos City Charter included a provision that requires a majority vote of all city employees to esteem any changes to retirement benefits. Proposition B called for that provision to be eliminated from the City Charter. (Prop. B) The ballot measure was intended to create a voter-supported mandate, granting the Mayor and the City Council authority to vary the Citys pension plans. These make up a major part of the compensation packages of city government workers.If the City denies its employees voting rights over control of their pensions, such a move could have serious property right implications. murder of such a plan may lead to very costly legal battles for reasons we have explored in previous chapters. Among the most fundamental of employee benefits upon which the vast majority of U. S. workers have come to rely is the Social Security system, which we discussed in Chapter III. Social Security ensures a degree of financial stability to retired workers, or in the event of a modify injury or disease that would prevent a worker from earning a living.This basic employee benefit has been a part of American workers life since passage of the Social Security Act of 1935. The act instituted a system of mandatory old-age insurance, issuing benefits in proportion to the previous earnings . . . and establishing a reserve fund financed through the imposition of payroll taxes on employers and employees. (Farlex) But what many voters may not have realized when they supported Proposition B in June of 2012, is that participation in Social Security is among the sacrifices San Diego employees make in accepting careers with the City.As explained in Chapter III, while virtually all private sector employers are required by law to participate in Social Security for the benefit of their employees, only some local government entities are exempt. The City of San Diego elected to withdraw from Social Security participation in 1982, and since then has not paid Social Security payroll taxes. Instead, San Diego and many similarly situated municipalities provide retirement and disability related financial security to its employees through the Citys pension plan.San Diego City employees are only eligible to receive Social Security retirement benefits if they worked in covered employment other than for the City of San Diego, or worked for the City prior to 1982. Instead, San Diegos employees are covered only by the public retirement system provided by the City. Public employees in many other cities across the nation work unde r similar circumstances. But since the vast majority of voters are covered by Social Security, it likely does not occur to them that local government workers are not eligible.While pension reform became a political football in San Diegos 2012 mayoral campaign, pension issues have plagued the City of San Diego for over a dozen years. One of the four mayoral panoramas, City Councilmember Carl DeMaio, wrote and promoted Proposition B, which was placed on the ballot for the presidential primary choice held on June 5, 2012. Much tilt surrounded this ballot measure, following allegations that the City had circumvented the legally required process of meeting and conferring with its labor unions.Both outgoing Mayor Jerry Sanders and City Councilmember Carl DeMaio openly claimed authorship of the ballot initiative. Mr. DeMaio make it a key element of his mayoral campaign. But when the City was challenged as to its adversity to negotiate with the Citys union concerning proposed reforms, they both claimed the initiative was citizen-initiated, and not an attain of the City. Since both the mayor and a prominent member of the City Council each played a major role in the authorship and promotion of the initiative, it seems difficult to let the claim that this was not an official action of the City.As the ballot measure was presented to the voters, however, supporters of the initiative failed to mention or remind voters that San Diegos pension plan had replaced Social Security for City employees 30 years before. Had voters understood the full ramifications to City workers, and the fact that they are not covered by Social Security, the election results on Proposition B may have been different. Indeed, had the voters who signed petitions to have the measure placed on the ballot known this vital detail, some may have withheld their signature.Promoters carefully avoided any discussion of Social Security as they cajoled voters to pass the measure, while opponents also faile d to adequately stress the Social Security implications. Legal challenges were brought in the courts, charging that the City violated its legal obligation under the Meyers-Milias-Brown Act to meet and confer with the Citys unions regarding provisions of the ballot initiative. The City won the first round in this battle, succeeding in getting the measure placed on the June 2012 ballot. In San Diego municipal Employees Association v.The master key Court of San Diego County (San Diego County Superior Court No. 37-2012-00092205-CU-MC-CTL), the Court of invoke for the Fourth Appellate District overruled that decision, but too late to have any impact. That decision came on June 19, 2012, two weeks after the election. The suggestion that San Diegos Proposition B had a questionable legislative history, or that it was improperly brought to a public vote, is not to imply that pension reform is unnecessary, in San Diego or anywhere else. But Proposition B may not be the panacea San Diego vot ers were led to expect.There may be other actions San Diego can take to address its pension problems actions that would be both more effective and more fair to City employees and taxpayers alike. Several such potentially more sensible approaches to the problem were mentioned by spokesperson give chase Filner, the only one among San Diegos four mayoral candidates who resisted Proposition B. spokesperson Filner recognized the propositions debile legal foundation, and acknowledged that such a reform plan may meet with constitutional challenges we will explore in the next chapter.Proposition B involved several elements. One part of Proposition B trim backs a wage freeze. Curiously, however, even after the wage freeze was announced, Mayor Sanders authorized pay raises for several members of his administration, totaling nearly $45,000 per year. Union officials might wonder why ascesis measures like wage freezes apply to correspond employees, but apparently not to another class of employees. If serious belt-tightening is called for, the City might do well to apply such measures universally.To expect the burden to be borne by the Citys unionized workers, but not by management employees, does not do much to promote labor peace. The proposition also modifies the police pension plan, raising the retirement age and lower the maximum benefit. Pension benefits for newly employ public safety workers would be reduced from a maximum of 90% to a lower cap of 80% of pre-retirement earnings. name among the changes imposed by Proposition B is replacing the Citys delimitate value pension plan with a 401(k) style outlined Contribution plan that make no financial security guarantees.These would be for all new employees who are not a part of the Police Department. As to Social Security, close recitation of Proposition B reveals that its author acknowledges the fact that City employees are not short covered. It is suggested that the City may open the option for employees to become covered by Social Security, but that it is the intention of the City to maintain its safe harbor exemption from Social Security participation. In this respect San Diegos Proposition B approach to pension reform may have a fatal flaw.Recall from our discussion of Social Security that municipalities can maintain exemption from participation in Social Security, but only if its pension plan provides benefits comparable to those available under Social Security. For the past 30 years the Citys specify Benefit pension plan has carry out that requirement. The question is, will the 401 (k) style delineate Contribution plan proposed under Proposition B, meet the same stringent requirements? Unless the plan provides a level of benefits at least as comprehensive as Social Securitys Old-Age, Survivors, and Disability Insurance (OASDI), the answer is likely no. specify Benefit Pension plans base pension benefits as a guaranteed pertinacious percentage of pre-retirement income, deter mined by a benefit formula that considers both rates of pay and years of service. These benefits are paid for by employer and employee contributions to the pension fund, and also by the investment income derived from the fund. When fund investments do well, contributions required from the employer are lessened. When investment income suffers, greater contributions are required from the employer to meet fund obligations.Defined Contribution Plans, in contrast, do not feature benefit guarantees, but rather base their security in a known fixed cost for the amounts paid into the plan. (Bennett-Alexander, p. 774) Defined Contribution plans may seem lovable from the point of view of the employer, but for the worker it means financial uncertainty. Eliminating the financial security features of Defined Benefit plans is a major change from long-standing past arrange in San Diego and in cities similarly situated.The principle of past practice may give yet another basis upon which unions may mount a challenge to such a drastic change as to eliminate participation in Defined Benefit plans. Defined Benefit Pension Plans account for nearly 73% of union-negotiated retirement plans across the Nation, particularly in the public sector. (Carrell, p. 329) Income maintenance plans pensions and other employee benefits such as severance pay, death and disability insurance, wage guarantees, supplemental unemployment plans, and the like have mostly been negotiated over long periods of collective talk terms by employee organizations and unions. Carrell, p. 328). In many cases, such as for San Diego city employees, these negotiated income maintenance plans take the place of programs made available to other workers through Social Security. Based upon ones term of employment and level of earnings, Social Securitys OASDI provides guaranteed disability and retirement income to covered individuals and their families. Defined Benefit pension plans can be designed to be as good or bette r than Social Security. Benefits under Social Security are not in any way dependent upon investment returns, and the same is true, by definition, in Defined Benefit pension plans.The very nature of a Defined Benefit plan is that what is defined is the benefit, not the contribution. Benefits are established, and contributions may vary to meet the scheduled benefits. If investment returns fail to fund the plan at sufficient levels to meet plan obligations, the shortfall is simply overcome by making greater contributions to the plan. In a Defined Contribution plan, however, what is guaranteed is not the benefit, but rather the amounts to be contributed. Costs are fixed benefits are contingent upon the funds resources, which come both from contributions and investment earnings.Simply put, benefits are directly dependent upon investment returns, which cannot be guaranteed. Highly compensated employees (HCE) see another attractive feature of 401(k) style retirement plans. Participating in such a plan offers very significant tax benefit, allowing voluntary contributions to accrue free of income taxes. Those workers whose income is lower, however, can neither afford voluntary reductions in pay, nor benefit to the same degree from 401(k) plan participation.From the perspective of lower paid workers, particularly those younger workers who do not sense retirement planning as creation pertinent, every dollar an employer pays into a pension plan is a dollar that is not available in this weeks paycheck. While equally true for the highly compensated, that dollar has less significance. As explained in a recent study by the Center for Retirement Research at Boston College, high income workers benefit disproportionately due to higher participation rates, higher contribution rates, and higher tax benefits. Toder and Smith, p. 7) Defined Contribution plans may appear attractive to public employer budget analysts and some highly compensated employees, but they almost certainly fa ll short of being comparable to Social Security. To make them comparable, contribution rates would likely have to be set so high as to make investment returns unimportant. Suddenly then, Defined Contribution plans lose their attraction, as they may cost even more than the Defined Benefit plans they are intended to replace.That may be even more true considering the attorney and court fees taxpayers may be required to suffer to defend legal and constitutional challenges. During the San Diego mayoral race, candidate Congressman Bob Filner, noted that should Proposition B be implemented, there is a strong likeliness that much of the perceived savings might be spent instead on legal fees defending the lawsuits that would likely follow. Discussing the pension reform problem on the National scene, and the move toward cutting back on pension benefits, Stuart Buck, J. D. as noted, The problem is how to do this in a way that is most fair to workers and in a way that is consistent with state or federal Constitutional provisions that prohibit states from impairing the obligations of contracts. (Buck. ) Chapter V Legal and Constitutional Hurdles cater to grant pensions is not controverted, nor can it well be, as it was exercised by the States and by the Continental Congress during the war of the Revolution and the exercise of the power is coeval with the organization of the government under the present Constitution, and has been continued without happy chance or question to the present time.Justice Nathan Clifford United States Supreme Court United States v. star sign 98 U. S. 343 (1879) The establishment of pensions in credit of public service is a practice so steeped in tradition as to be considered a right of passage. both proposal that suggests taking such benefits away from public servants will be met with nonindulgent opposition in the courts. There are well-founded statutory, contractual, and constitutional protections that make it difficult for cities or ot her political subdivisions to impose pension reforms. The U. S.Constitution has several clauses that can be interpreted to protect pensions. Numerous State constitutions offer similar protections. San Diego Pension Issues The City of San Diego, California, presents an interesting backdrop for the discussion of the legal and constitutional implications of pension reform. During the past decade the City of San Diego incurred millions of dollars in legal expenses transaction with lawsuits stemming from scandalous pension dealings and senseless attempts to make unilateral changes to its pension plans.Such money enriched a few lawyers, but only worked against the interests of the City and its taxpayers. Attempts by the City of San Diego to impose pension reforms again gained attention during the 2012 election year. One of the Citys mayoral candidates, City Councilmember Carl DeMaio, wrote a ballot proposition known as the Comprehensive Pension Reform Initiative, making pension reform the basis of his campaign. Of the four candidates in the 2012 San Diego mayoral race, only Congressman Filner seemed to acknowledge the legal and constitutional issues applicable to pension reform.During the campaign, candidate Bob Filner, a 20 year veteran of the U. S. House of Representatives, predicted that should Mr. DeMaios Proposition B pass voter approval, its implementation would be met by legal and constitutional challenges that may cost the City dearly to defend. Mr. Filner also noted that, Proposition B does nothing to reduce the current pension deficit, it takes retirement security from employees who are not in the Social Security system and it will result in years and years of more political dustup and litigation over its legality and implementation. (Filner) Specifically, the legal implications of Proposition may involve charges of develop of contract. Under California law, employers enter into an implied and enforceable contract with employees as of the date of hire, with respect to the terms and conditions of employment. Employee benefits, including pensions, that are promised as an bonus to accept em