Abraham Lincolns second inaugural address Essay Example for Free

Abraham Lincolns second inaugural address Essay At the time of Abraham Lincoln’s second inaugural address, which was delivered in March 1865, the country had (long) been looking forward to the end of the Civil War. Lincoln’s second address is shorter than the first one because according to him there was no need for a long address because of the union’s current political situation. Compared to the first address, Lincoln is using many different kinds of rhetorical strategies like religious allusions, parallel structure, as well as diction in order to reunite a broken nation and make them feel united again, which I’m going to focus on in the following. Lincoln starts with the words â€Å"Fellow countrymen†, which shows that he sees himself on the same level as the other citizens, and not only their president. He also wants to emphasize that he pursues the same interests as everyone should: to stop the war. Lincoln often uses the rhetorical method of allusion, focusing on God and the Bible to reunite the country, the North and the South, by stating that they all have the same faith. In his second inaugural speech, Lincoln says, â€Å"Each looks for an easier triumph, and a result less fundamental astounding. Both read the same Bible and pray to the same God, and each invokes His aid against the other. It may seem strange that any men should dare to ask a just God’s assistance in wringing their bread from the sweat of other men’s faces, but let us judge not, that we are not judged.† In this paragraph Lincoln is quoting the Bible, which is very smart and effective of Lincoln to use religious allusions like the ones stated above; Therefore, a lot of people can relate. He also wanted to point out that they should all be on the same side and not fight against each other. The main reason why the Civil War started was that the North and the South ha At the time of Abraham Lincoln’s second inaugural address, which was delivered in March 1865, the country had (long) been looking forward to the end of the Civil War. Lincoln’s second address is shorter than the first one because according to him there was no need for a long address because of the union’s current political situation. Compared to the first address, Lincoln is using many different kinds of rhetorical strategies like religious allusions, parallel structure, as well as diction in order to reunite a broken nation and make them feel united again, which I’m going to focus on in the following. Lincoln starts with the words â€Å"Fellow countrymen†, which shows that he sees himself on the same level as the other citizens, and not only their president. He also wants to emphasize that he pursues the same interests as everyone should: to stop the war. Lincoln often uses the rhetorical method of allusion, focusing on God and the Bible to reunite the country, the North and the South, by stating that they all have the same faith. In his second inaugural speech, Lincoln says, â€Å"Each looks for an easier triumph, and a result less fundamental astounding. Both read the same Bible and pray to the same God, and each invokes His aid against the other. It may seem strange that any men should dare to ask a just God’s assistance in wringing their bread from the sweat of other men’s faces, but let us judge not, that we are not judged.† In this paragraph Lincoln is quoting the Bible, which is very smart and effective of Lincoln to use religious allusions like the ones stated above; Therefore, a lot of people can relate. He also wanted to point out that they should all be on the same side and not fight against each other. The usage of the word â€Å"both†, as in the quote above, often occurs during his speech, which is an example of how he uses his diction in order to try to connect the people and create a feeling of unity. The main reason why the Civil War started was that the North and the South had two different opinions on slavery. When Lincoln delivered his second address, this issue (was put in the background) but the two parties were still fighting. Lincoln also states, â€Å"†¦Let us strive on to finish the work we are in, to bind up the nation’s wounds†¦Ã¢â‚¬  This statement is also an allusion to the Bible, which he is using to impact the people to help bring the nation back together. Lincoln is mentioning the pronouns â€Å"us† and â€Å"we†, to point out that it is about time to reunite the country, combining the North and the South. The word â€Å"work† implies Lincoln’s recognition of the sheer diligence, effort, and commitment needed to finish the war, but it also implies that he does not glorify the war. Neither does he speak of magnificent triumphs nor does he threaten the South with punishment. Instead, he speaks with moderation and modest y. Another example of an allusion is at the beginning of the speech when Lincoln says, â€Å"All dreaded it, all sought to avert it.† He is trying to treat both parties equally by saying â€Å"all† and not mentioning just the North or just the South. Nobody wanted a war, and nobody was fairly prepared for one but after so many years of fighting, losses, tears, and deaths they now have to come together to fix the â€Å"broken nation† and make peace again. Lincoln also concludes: â€Å"Fondly do we hope, fervently do we pray, that this mighty scourge of war may speedily pass away. Yet, if God wills that it continue until all the wealth piled by the bondsman\s two hundred and fifty years of unrequited toil shall be sunk, and until every drop of blood drawn with the lash shall be paid by another drawn with the sword, as was said three thousand years ago, so still it must be said ‘the judgments of the Lord are true and righteous altogether.’\. Relating to this quote one can tell that Lincoln is not very fond of the war, but his faith in God and religion are very clear to see. â€Å"With malice toward none; with charity for all; with firmness in the right, as God gives us to see the right, let us strive on to finish the work we are in; to bind up the nation’s wounds; to care for him who shall have borne the battle, and for his widow, and his orphan – to do all which may achieve and cherish a just and lasting peace among ourselves, and with all nations.† These lines show Lincolns religious character in various ways. â€Å"With malice toward none† implies that he is willing to forgive the South and to recreate the Union with them without judging. â€Å"[W]with charity for all† implies his willingness to love everyone as Christians are taught to love according to the Bible; and â€Å"with firmness in the right, as God gives us to see the right† This passage shows that Lincoln is a man of the law, but that through God the people are able to see what is right and what is wrong. It is clear to see that Lincoln does not s eparate the nation into the North and the South, not even when he mentions the fallen soldiers and their grieving families. To Lincoln it does not make a difference which party one belongs to but that every single citizen finds their own peace and most importantly that the nation finds its peace as one. The main goal in his first address was to keep the nation together and to prevent the upcoming Civil War. In contrast to the second address, Lincoln then stated very clearly that the fate of the Union lies in the hands of the South and only they can prevent the Civil War: â€Å"In your hands, my dissatisfied fellow-countrymen, and not in mine, is the momentous issue of civil war. The Government will not assail you. You can have no conflict without being yourselves the aggressors. You have no oath registered in heaven to destroy the Government, while I shall have the most solemn one to ‘preserve, protect, and defend it.’† He is calling the South themselves â€Å"the aggressors† and is separating himself and his union from the others, unlike his second address, in which he only uses the pronouns â€Å"us† and â€Å"we†, creating a unified feeling. d two different opinions on slavery. When Lincoln delivered his second address, this issue (was put in the background) but the two parties were still fighting. Lincoln also states, â€Å"†¦Let us strive on to finish the work we are in, to bind up the nation’s wounds†¦Ã¢â‚¬  This statement is also an allusion to the Bible, which he is using to impact the people to help bring the nation back together. Lincoln is mentioning the pronouns â€Å"us† and â€Å"we†, to point out that it is about time to reunite the country, combining the North and the South. The word â€Å"work† implies Lincoln’s recognition of the sheer diligence, effort, and commitment needed to finish the war, but it also implies that he does not glorify the war. Neither does he speak of magnificent triumphs nor does the threat the South with punishment. Instead, he speaks with moderation and modesty. Lincoln also expresses his compassion, his special concern for the soldiers and his thoughtfulness, as well as condolences towards the suffering families. This shows that he is a man of peace who is also a man committed to justice.

Creating A Just Society for Children :: Sociology Essays Research Papers

Creating A Just Society for Children News reports lately suggest that children who have been having meal with their family everyday commit less misdemeanor and crime than children who have not. According to the news report, children who have meal with their family grow up to be strong and stable mentally. They are able to adapt a society very well. Recently we see many teenagers’ committing crimes. At first glance, these teenagers seem to be average. However their actions are cruel. Those children are suffering from the influence of their environment that they have been brought up in, and can not solve their problems by themselves. Some of them are trying to ask their parents help, but the parents do not take it seriously or misunderstand it. Some parents try to solve the problem by supplying everything children need. It is difficult to foster a good environment through material things only. A good spiritual home is also important. I wonder how we can create a just society not for children but a lso for all and whether the day-care is really important for children or not. The case of the article about the okinawan, which we discussed in the class, is a very sensitive topic. In Japan, there is a tendency that mothers always stay next to their baby and take care of them very well. Even when they go to bed, they take the baby to their bed and let him or her sleep next to them. On the other hand, in the United States, the parents let their baby sleep on the baby’s bed. When the baby is born, they give a room to their baby. Some parents let a babysitter take care of their baby. While the babysitter is taking care of the baby, the parents are working or going somewhere. For some parents, having a babysitter is very helpful. They are able to work and live financially independent. They also have more time for themselves instead of taking care of their baby. However, there is a problem about letting the babysitter take care of the baby. The problem is whether the babysitter takes care of the baby properly or not. I have seen a lot of news on the TV.

American-Cuban Relations: A critical analysis

The American Cruise Line is a United States small ship company. Its operations are around Eastern Seaboard in the US. Its operations commencement is dated back in early 1970’s. However, the business stopped sometimes in 1980s due to a decreasing level of customers. Its operations either went in business again in 2000, by launching some three ship fleet with the American Eagle (49 – passenger capacity) being the first ship. Others launched in 2002 and 2005 where the American Glory (49 – passengers) and the American Sprit (98 – passengers) respectively. In 2007, the company is to launch the American Star.The owner had sold the company in late 1980’s before it went under due to operational inefficiencies. Since it’s rebirth in 2002, the company continues to embrace a big growth, with its operation expanding highly. The same rebirth followed an acquisition by the owner of the then former company which was operational in 1980’s. The company is a US based small ship company registered in Maine. Its operations are along the US coastal line form the Maine to Florida. Operational profile. The company owns a much larger fleet with a capacity of 220 square fleets.Its cabins are of a larger size than any other small ship company. In its fleet Profile, its currently operates with three cruise ships such as the American Eagle, American Glory and the American Spirit. Its current decision to launch the fourth ship (America Star) within the year is perhaps its greatest achievement. Its ships are profound in three characteristics which make it to adequately compete with its competitors at the market place. They are highly roomy, and of the most modern nature. (http://www. cruisecritic. com/reviews/cruiseline. cfm? CruiseLineID=57)Their ships have adequate privacy due to the large capacity, intimate relations for their relatively small size as well as allowing its passengers to be able to frequently meet within a week. Their dining room are located at the deck which primarily lowest at the stem point, where it has some windows on its three sides it has other two cabin sized lounges, with the tip deck making open cut facility for the remaining part of the ship. The four decks will then be linked together by an elevator. Many of the cabins have balconies which provide an attractive environment for the passengers on the coastal scenery while traveling.Those without balconies will have their windows painted large pictures which are then opened for free circulation of air and also the different sounds emanating form the sea. They also offer cabin facilities for persons who are single or disabled. Generally, the vessels will have identical features in regard to the facilities, decor and also layout. The passengers are free in their choice of cruise in terms of date or even itinerary without been forced to use a cruise without their choice. (Morgan, 2004) The decors are attractive and exciting, with both muted and a range of simple colors.Their close array is like that of a hotels generic lobby. Its main lounge has a specific location. This is underneath their bridges at a directly forward position. It has a set of tail windows in one of the three sides which are used for providing a way of viewing the attractive scenery while passing. However, the stringent maritime laws have worked to lower the company’s activities. These laws prescribe an attractive package in the certain conditions relating to capacity, modern, operating diameters, and other legal conditions on the cruise business.At one point, we can talk of the advantage into the nature of the business customers. However, the same laws may be argued as stumbling blocks into the cruise business where stringent legacies ought to be followed. Consequently, cruise businesses are required to have a layout of specific modalities in the operational system and the physical nature of their ships. Such conditions have been voted as been hig hly expensive leading to conditions of high operating costs. The company has the launch of the American Star in progress which is to be later in this year.Either, its development of Pearl Seas Cruises within the course of 2008, will find the company at the most competitive edge in the international waters. This would have the same similarities to the other ship models, though it’s highly sophisticated. With a regard to the environmental laws about water pollution, the company has been in the fore front to ensure Low rates of environmental pollution. The construction system of its ships follows a highly conventional manner in which high standards ships manufactured with lower cases of oil spill-over in the water.Either, it has various facilities for ensuring safe custodies for any emergency cases and accidents that would lead to oil spillages in the water. Above these parameters, its high advocacy to the travelers of frontiers that provides conditions for lower environmental p ollution has been ensured by the management. The company has continued to recognize and put in place various campaigns on environmental conservations, and reduction in water pollution. Through such a campaign, it has ensured high operational statuses which provide a hallmark in the conservation of the water environment through reduced pollution.(Sagers, 2006) Organizational structure and current operating environment. The company has provided a layout in terms of its organizations structure. A compliment of various stakeholders to be same structure is therefore available. It has the CEO as the highest rank in the structure. A panel of board of directors also accompanies the same structure. Elsewhere, various managerial staff positions provide management services to the different management offices. The current operating structure may be summarized under the aspect of ship board organizational structure.The shipboard organizational structure is comprised of system of controls into th e various activities and operations at the time of boarding a ship. Like any other organizational activity, the ship boarding activity is comprised of various activities that help an adequate environment for the operations. Different personnel have various delegated responsibilities, which help the smooth process of activities during the boarding time. (Hazell, Fitzpatrick, 2006) Various control persons are therefore delegated with various duties.These include; operations control who is capable of the communication process within the shipping process. The engineering control, who provide various engineering services for the shipboard process incase of mechanical breakdowns; the damage controller, who provide repairs and maintenance to any materials breakdown in the shipping process. The shipboard directors(s), who provides a package of directorship in the control layout systems of the ship board process. Above these profiles, the shipboard organizational structure is compounded by o ther systems of control / control officials.These are medical controls, finance officials, supervisors, safety officers, security control and quality assurance controls. All the controls play their relevant authorities and displiness in correspondence to the requirements of the shipboard process. Summarily therefore, shipboard organizational structure is comprised of a system of control that ensure adequacy in the company’s organization at the shipboard process. The shipboard operating structure is comprised of a system of control available at the process of its operations.While the ship is on its traveling process, there are various operating controls and processes that accompany it for adequate and safe traveling and services. At one level, the demographic population of the company can be echoed in a close perspective between the ships and the passenger volume they operate in. The demographic structure of the company depicts diversity in its clients in terms of geographical parameters. Clients are from the whole region. Generally, the number of children clients has been voted to be low.However, a higher volume of children is available during the summer within the Maine and the New England. Currently the company has its three ships with the American Star at the verge of been launched within this year. (Talley, 2000) The major nationalities working in the onboard process are Americans. The company has had dominance in the employment of Americans for its onboard activities. This is in attribute and understanding that fellow Americans can provide good customers relation in the onboard process during the ship traveling.However, the onboard process is accompanied by a number of activities on process where different personnel perform different roles. Firstly, the role and position of show excursions controller should not be overlooked. This is the controller person in charge of excursions in every port in which passengers are taken through to know the differ ent environments they are driving in. This is taken as a refresher course to the passengers in the long journey processes. Food and drinking personals (waiter) who are allied to the different schedules of the passenger feeding.With the long journey process, passengers are ideally provided with food, this is taken care of by the food controller. Like the shipboard organization structure, the on process is also accompanied by a system of control which includes quality assurance, finance, medical, security, administration, above others. At the onboard process, the persons are responsible for these controls. At the shore side either, a comprehensive, package of management structure, controls and human resources issues is highly pronounced to provide a higher and better environment of the shipping process.Majority of the characteristics of activities found at the shore side is a combination those at the shipboard organizational and operating structures above those of the onboard structur e. A combination of the relevant system of control relating to the various systems of control is therefore attributable to the shore side organizational structure. Marketing positioning The small ship industry in America is highly competitive. The company continue to get a high and stiff competition form its competitors around the world.The success to the company has however been through a package of providing relatively high quality products and services above other strategies which helps it to even pursue well in such a competitive market. It has however a highly developed and established system of itineraries which are found placed in the whole Eastern Seaboard covering the Penobscot Bay at the Maine up to the Florida. (Haigh, Nomikos, Bessler, 2004) The traveling system changes considerably during the various seasons of the year. The cruises allied to England Island have the Block Island as their stopping areas at the summer periods.They can also stop at Nantucket or Martha†™s Vineyard. Trips also change in the course of the year depending on the environmental conditions allied to the navigation process. There is the June offer of itineraries from the Chesapeake Bay which are allied to the Baltimore case. However, these are all short trip cases. The great passageway which is form the Baltimore to the peak of Florida is among its long paths. Elsewhere, the ships will sail via the Antebellum Itineraries, which is form the Jacksonville and the Charleston.This occurs at the periods form November throughout April. The Okeechobee trip is offered as an occasional trip. As the 2008 approaches, other cruises will be introduced by the Pearl Seas Cruises. There destinations are proposed to been Canadian Marmites, St. Lawrence Seaway Caribbean American itineraries and also the Central American itineraries. This 2008 activity plan is a clear indication of the high level of expansion by the company in their itineraries. (Still, 2001) The target market of the compa ny is to include the whole of the US costal line.However, this is only its immediate (short run goals) with the intensity into its expanding phenomena, the company is perhaps to embrace its final attribute of expanding to reach the various water ways and ports in the US coastal strip. Elsewhere, its greatest achievement would be expanding to the broad foreign market. Foreign market is seen as an attribute in which the company will develop in capacity to even reach the global market, through mergers, acquisitions, starting or even through Franchises. Miscellaneous details The American Cruise company has continued to embrace the sovereignty as one the largest small ship company in US.Over the last three years, it has had an average of reported profit amounting to $ 694 per annum. The price of it share in the American stock market has considerable been improving. Since is rebirth in 2002, it has continued to show an increasing level of profit. . References Cruise Review and News (2007) American Cruise Lines. Retrieved on 7th Nov. 2007 from http://www. cruisecritic. com/reviews/cruiseline. cfm? CruiseLineID=57 Haigh, M. S. , Nomikos, N. K. , & Bessler, D. A. (2004). Integration and Causality in International Freight Markets: Modeling with Error Correction and Directed Acyclic Graphs.Southern Economic Journal, 71(1), 145+. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5006987575 Hazell, L. C. , & Fitzpatrick, S. M. (2006). The Maritime Transport of Prehistoric Megaliths in Micronesia. Archaeology in Oceania, 41(1), 12+. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5015172724 Morgan, C. (2004). The Public Nature of Private Industry in Confederate Georgia. Civil War History, 50(1), 27+. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5006500885Sagers, C. (2006). The Demise of Regulation in Ocean Shipping: A Study in the Evolution of Co mpetition Policy and the Predictive Power of Microeconomics. Vanderbilt Journal of Transnational Law, 39(3), 779+. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5019554251 Still, C. (2001). Thinking outside the Box: The Application of COGSA's $500 Per-Package Limitation to Shipping Containers. Houston Journal of International Law, 24(1), 81+. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5000945085 Talley, W.K. (2000). Ocean Container Shipping: Impacts of a Technological Improvement. Journal of Economic Issues, 34(4), 933. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5001180959 The state of conflict that has come to define the relationship between the United Sates of America and the tiny island nation of Cuba is, unknown to many, as old as the history of Cuba as a nation state. The first signals of conflict came early in the life of Cuba as a Spanis h colony when in 1795 Negro slaves and whites came together to revolt against the Spanish overlords.That momentous occasion caused a great disquiet amongst slave owners in the American south, and thus attracted the keen attention of the American establishment, who did not desire such an example to be set too close to home. The first overt reaction of the American rulers at that time was to make overtures to Spain for the purchase of Cuba. In this respect, Thomas Jefferson, the American President, was reported to have said in 1809 that, â€Å"I candidly confess that I have ever looked upon Cuba as the most interesting addition that can be made to our system of States. †Though Spain persistently rejected the American request, the Americans never dropped their desire to annex Cuba by any possible means. This ardent American desire and policy on Cuba was summed up by the then American Secretary of State, John Quincy Adams, â€Å"These islands (Cuba and Puerto Rico) are natural a ppendages of the North American continent, and one of them (Cuba) almost within sight of our shores, from a multitude of considerations has become an object of transcendent importance to the commercial and political interests of our Union†¦ These are laws of political as well as physical gravitation.† It was therefore only a matter of time before the first real conflict over Cuba erupted. When it did, it did so in two fronts, one involved America and Spain while the other involved Cubans themselves, who desired independence from Spain. In 1823, US President Moore declared the Western Hemisphere, including Cuba, as an exclusive sphere of influence of the United States, warning European powers to take heed and steer clear of any interference in the affairs of any nations within the so declared ‘sphere of influence’.Subsequently, in 1898, Cuba became a theatre of war between the Americans and Spain, the Spanish American War. This was coincidentally at a period C uban revolutionaries claimed they were on the threshold of liberating Cuba from Spanish rule. The Americans won in the ensuing war and subsequently took control of the governance of Cuba as protectorate. What was to follow was a despoliation of the Cuban state by successive American appointed administrators, land speculators, profiteers, the Mafia and their local Cuban collaborators.Attendant to these was the economic emasculation of the Cuban nation as American colonists swooped on the island and acquired large swats of fertile farm land, marginalizing the local people, and in so doing sowed the seeds of the many conflicts that were later to help shape American-Cuban relations for almost the past half century. 2. 7. 1. The Actors General Fulgencio Batista Formerly a Sergeant in the Cuban Army, Batista came into limelight when he led a group of sergeants, ‘The Revolt of the Sergeants’ to overthrow a sitting government in 1933.Though he relinquished power shortly afterwa rds to become the army chief, he made himself the elector of the next president and subsequent five others until 1940 when he contested and won the presidency for himself. Successive American administrations found him a willing ally and were in tacit support of his conducts and rule over Cuba. Under Batista, the Miami mafia mob became the co-rulers of Cuba. Batista was to retire from presidency in 1944 only to make a quick come-back in 1948 when he was elected into the Cuban senate. Later in 1952 he sidestepped the elections and took over power in a coup.With the support of U. S administration of Harry Truman, Batista cancelled the elections all together and became the maximum leader. Fidel Castro was one of the contestants in that botched election. Fidel Alejandro Castro. The son of a wealthy Creole farmer, Castro was educated in Jesuit schools, and finally graduated from the Havana University with a law degree. Disillusioned with the poverty he saw around him and the display of we alth by the American colonists, Fidel joined the political movement with intent to stand for an election into the Cuban congress.When this desire of his was scuttled by the cancellation of the elections and the usurping of power by General Batista in 1952, he took up arms with other rebels, ‘The July 26 Movement’, including his brother Raul to wrest power out of Batista forcefully. Their attempt at rebellion in 1953 ended in disaster and the killing of most of the rebels. Fidel, his brother and a few others were arrested, tried and jailed, but later released. Castro was to strike again, and eventually defeated Batista’s soldiers to take over power in 1959.On assumption of power, Castro took several populist actions, which endeared hum to the down trodden Cuban masses. But his later actions of nationalizing all American run and owned businesses in Cuba, closing down all casinos, whore houses and sending the mafia on the run, as well as his switch to communism earn ed him powerful enemies in the American establishment. Ever since, American Cuban relations can be effectively summed up in two this short term- mutual hostility. Dwight D.Eisenhower. Two-term president of the U. S, 1953-1961, Eisenhower was in power at the height of the Castro rebellion, which ousted General Batista from power. Eisenhower was the architect of initial American policy response to the Castro challenge. Hostility was the initial and consistent response to the Castro regime. This response was later to be institutionalized, thus setting the mood for subsequent US-Cuban relations. Eisenhower took far-reaching steps to checkmate Castro.Some of these steps were the authorization of the CIA to train Cuban exiles to form a force that could overthrow Castro and install a more acceptable regime in Cuba, cancellation of American orders for Cuban sugar, prohibition of American exports to Cuba, putting pressure on European banks to cancel loans meant for Cuba, blacklisting of nava l vessels carrying cargo to or from Cuba, massive propaganda offensive to discredit the Cuban regime, liaisons with and use of mafia links to try to assassinate Castro or destabilize Cuba. J. F.Kennedy. He succeeded Eisenhower as American President, and true to his election campaign pledge to ‘do something about Castro’, Kennedy went a step further by authorizing and sponsoring the failed Bay of Pigs invasion of Cuba in 1961 by Cuban dissidents. This was in addition to other US sponsored covert and overt terrorist attacks against Cuban interests and attempts on Castro’s life. Kennedy followed up late with the termination of diplomatic relation with Cuba in 1961. Some other attempts by Kennedy to deal with Castro included:Operation Mongoose, whose aim was to overthrow Castro through acts of terrorism and subversion; The invoking of US military intervention to â€Å"overthrow the Castro regime; Operation Peter Pan, (1960-62) in which the US colluded with the Catho lic Church transport 14,048 unaccompanied children between 6 and 18 years old out of Cuba for the US; Institution of a full trade embargo against Cuba; Punishment and denial of US aid for third countries which allowed assistance or commerce with Cuba; Imposition of travel to Cuba on US citizens;Though President Kennedy was assassinated in circumstances which some speculations have linked to the Castro issue, the US policy direction on Cuba did not change, but had rather intensified with successive US regimes. 2. 7. 2. Issues Basically the Issues at stake in American-Cuban relations could be described as both ideological and territorial.The United States on the one hand had a long standing interest to annex or control Cuba and to have the island nation come under its capitalist mode of operation, whereas Cuba had traditionally resisted any such designs by the Americans and had under Fidel Castro towed the communist line of production and ideology. 2. 7. 3. The Underlying factors Many recent commentators on the unending face-off between Cuba and the United States have wondered why the US has found it difficult to accommodate the Cubans and their communist form of government at a time that they have normalized relations with such other communist regimes as China and Vietnam.`It is quite obvious that such commentators have failed to take into account the full weight of the underlying factors that have helped shape and instruct American policy direction on Cuba. Some of these factors can be discussed below: 1. The ideological war: Capitalism vs Communism. It is an established fact that the United States is as rabidly capitalist as the former Soviet Union was Communist. So when Castro concluded his revolution by tilting towards communism he inadvertently touched America at it sorest point.It was a declaration that an enemy was at its back door. Thus Cuban American relations were ab initio anchored on diametrically opposing posts the moment Castro took over power. 2. Proximity. Cuba’s proximity to the US which put it within the so-called American sphere of influence in the Western Hemisphere precluded that the US must, as a matter of national security, have interest in what happens in its back waters. And what the American administrations loathed most was for Cuba to become an example which other Western hemisphere counties could look up to and copy.3. Interest groups. Most of the American business interests that were nationalized by Castro are today part of the dominant group ruling the United States, and dictating state policy. They have not forgiven Castro and will never forgive him for disrupting their lucrative business operations in Cuba. The same is true of the mafia elements within the Cuban exile groups. 4. Resistance from ordinary Cubans. Having witnessed firsthand what unbridled capitalism and corrupt did to them the first time they came under U.S rule, ordinary Cubans are loathe to again welcome any American hegemony over the m. 2. 7. 4. Scope The scope and ramifications of US-Cuban relations crossed national and continental boundaries in the 70’s and 80’s when Cuba embarked on shoring up leftist regimes or groups in South America and Africa. These attempts brought them into direct conflict with the US; with disastrous effects in Nicaragua, Grenada, Angola, Ethiopia and Congo democratic republic.Consequently, local conflicts were internationalized, protracted and resulted in tremendous human tolls. The effect of almost fifty years of American economic embargoes on Cuba has also been horrendous on Cubans. 2. 7. 5. Previous Attempts at Settlements The first known attempt at settling the disputes between the US and Cuba was in 1964 when Cuba offered to desist from exporting revolutionary ideals to South America if the US would halt its hostile actions against Cuba. The US refused, urging Cuba to first stop close relations with the USSR.It was also speculated that Kennedy had intended to engage Castro in negotiations shortly before he was assassinated in 1965. Another secret attempt was made at reconciliation in 1974, but was supposedly cancelled after Cuba got involved in Angola. President Ford at that time linked normalization of relations with Cuba with its voluntary pull out from Angola. It was under Jimmy Carter that the most real attempts at the normalization of relations with Cuba were initiated when he lifted the travel embargo on Cuba.A maritime boundary and fishing accord was signed by both countries during this period, while diplomatic interest sections were opened by both countries in Havana and Washington, respectively. Other bilateral negotiations were started; the American Congress also repealed the provision of the Foreign Assistance Act of 1961 banning aid to countries permitting their vessels to trade with Cuba. The National Security Council also rescinded the ship blacklist. 2. 7. 6. Phases and IntensityThe Kennedy era was perhaps marked zenith of Ameri can-Cuban hostility. It was then that the botched Pay of Pigs invasion of Cuba was carried out in 1961, same as the Cuban missile crisis, which involved the installation of Soviet nuclear missiles in Cuba in 1962. Though the missile crisis was eventually resolved, when the Soviets willingly dismantled the missiles, the crisis almost precipitated a nuclear war between the US and the Kruschev-led Soviet Union. Several U.S instigated attempts were also made during that same era to assassinate Fidel Castro, but the climax was the assassination of President Kennedy himself. The other high intensity points in American-Cuban relations were in the 70’s and 80’s when Cuba actively supported leftist insurrections against American backed dictatorships in Africa and South America. The most notable of these countries where Cuban forces played direct combat role were Angola, Ethiopia, Grenada, El Salvador and Nicaragua. The U. S countered these Cuban moves by pouring in massive supp ort to the opposing groups.However, the relations between the have traditionally been known to experience upward and down swings in response to the parties in power in Washington- much more favorable under the Democrats and less so under the Republicans. 2. 7. 7. Balance of Power In territorial size and resources, Cuba is no match to the United States, but the active support of the Soviet Union at the start of the Castro revolution and until the collapse of the Soviet Union brought a semblance of balance of powers between the two feuding neighbors- U. S and Cuba.However, at the collapse of the Soviet Union, there were expectations that Cuba would falter and collapse, but world public opinion and the support of Canada, the European Union, China and of late Venezuela have helped stabilize Cuba ideologically and materially. 2. 7. 8. Capacity and Resource There is no room for comparison of the resources and capacities of both countries, the U. S is way ahead of Cuba in all respects, but as explained earlier what Cuba has going for it are favorable world opinion and the resilience of its leadership and people. 2. 7. 9.State of the Relationship The support for the continuing US embargo of the island nation have been completely eroded, as many of the nations of Europe, Latin America, Asia and Africa have since normalized relations with Cuba. Even fellow North American countries of Canada and Mexico have consistently opposed US embargoes on Cuba, especially as it affected US subsidiary companies within these two nations. Even many Americans have come to question the wisdom of continuing with the hostilities when it is obvious that Cuba, at present, poses no threat to U.S national security. Visits have been made of late by sitting congressmen and other influential Americans in efforts to settle the disputes between the two neighbors that are so close but yet so far apart. Works Consulted Chadwick Ian. History of Cuban American relations. Retrieved March 30, 2007 from h ttp://www. ianchadwick. com/essays/cubahistory. html Siera J. A. Compilations of History of Cuba. Retrieved March 30, 2007 from http://www. historyofcuba. com/history/batista. htm

Lehman Brothers Business And Bankrupts Example For Free - Free Essay Example

Sample details Pages: 7 Words: 2045 Downloads: 6 Date added: 2017/06/26 Category Business Essay Type Narrative essay Tags: Banking Essay Study Essay Did you like this example? Henry Lehman started his business with the small general strore in Montgomer, Newyork in 1884.After 6years his business was joined by their brothers Emanuel and Mayer and they named the business as LEHMAN BROTHERS, founded in 1850.They became broker of trading the cotton as it was the major cash crop at that time in the Alabama. EXPANSION OF BUSINESS (1860-1869) There was a civil war in 1862,which disturped the Lehman business the firm teamed up with cotton merchant named John Durr to form Lehman Durr Co. After the end of civil war there was a rapid growth in infrastructure like road, rail tracks and etc. Don’t waste time! Our writers will create an original "Lehman Brothers Business And Bankrupts Example For Free" essay for you Create order in US economy. At that time Kuhn, Loeb were the major underwriting of the financing for railroad construction. Rail road bond represented a significant advance in development of capital markets, their affordable price attracted a great number of investor and Lehman brother recognizing a trend they also themselves in and they start dealing with securities . So it was the turning point of Lehman in the area of financial advisory. IN THE YEAR 1880-1889 Now they expanded their business from financial advisory to merchant banking they became the member of NYSE in 1887 . they went Japan Europe globally after acquiring the seat on NYSE. FINANCIER OF EMERGING RETAILERS 1900-1909 They lend the money to emerging retailers like Roebuck co. F.W.Woolworth co.and etc. and also it helps Lehman to cover market share. FOCUS ON CONSUMER INDUSTRIES (1920-1929) In 1920 Robert Lehman perceived dynamic changes occurring in the nation economy and focused the co. on consumer industries li ke retailing, airlines , communication. From the beginning they were the supporter of entertainment sectors. They started up venture with film studios RKO, Paramount, FOX, benefited from financing arranged by the firm. They were arranging loans between blue chip borrowers and private lenders. These loans also provide to safeguard solid returns for lender while enabling the borrowers to raise much needed capital. FUNDING CAPITAL (1930-39) Lehman brother underwrite IPO for DUMONT the first TV manufacturer helped fund the Radio Corporation of America known as RCA (RCA was an electronic co.) Start up financing IPO underwriting (1950-59) It was boom period for electronics business in the US economy and there were number of upcoming companies it gives the opportunity for Lehman brothers to arrange start up financing for co. like Litton industries. They also provided underwriting for industry Pioneer Digital Equipment. The firm later arranged the acquisition digital equipm ent by Compaq. Company like General foods, Campbell Soup Phillip Morris went to Lehman help for finance growth necessary to satisfy borrowing demand for third product.(General food Corporation was acquired by Phillip Morris co. now Atria Group Inc. Phillip Morris is one of the world largest tobacoo corporation. Works with the leading players (1960-1979) They were having their clients in overseas also to meet their financial need they opened up new office in Paris 1960, London (1972) Tokyo by 1973.they worked with IBM, Loral, DEC, . It acquired Abraham co. in 1975. Amex acquires Lehman Brother in 1980-1989 TITLE OF THE CASE STUDY : SHORTFALL OF LEHMAN BROTHER Lehman brother has gone to final stage bankruptcy in year 2008 of 15 September when there was recession in whole world. They were having $639 billion of assets and $ 619 billoin debt. Lehman was the fourth largest U.S investment bank. Lehman was the biggest victim of the US subprime mortgage. As they were bankrupt, it leads to financial crisis globally .Lehman collapse was a seminal event which contributed to fall of market capitalization close to $10 trillion in the global equity market the biggest monthly decline. CAUSES FOR THEIR FALL DOWN : In 2004 Lehman acquired five mortgage lenders including lender like BNC mortgage and Aurora Loan services which specialised in ALT A loans .They acquisition seems to be impressive as they earned revenues from Lehman real estate business. They earned record profit of $4.2 billion on revenue of $19.3 billion. NOTE: ALT A: It means that without proper documentation the lender provides loans to borrower. In the month of Aug 2007 their stock fell sharply due to credit crisis, which make them to close BNC unit also ALT A offices in three states. Lehman underwrote more mortgaged backed securities than any other firm of $85 billion, which was 4 times of shareholder equity .Due to this portfolio the global equity market reached new height whi ch lead to staged temporary rebound .They were not in position to trim this massive portfolio. There was high degree of leverage that is total assets to shareholder equity it huge portfolio of mortgage securities which create market in vulnerable condition, which causes them their stock fell as much 48%.It was 24:1 in 2003 to 31:1 by 2007.While generating profit during the boom, this condition meant just 3-4% decline in the the value of its assets would entirely eliminate its book value. On June 9, Lehman announces 2nd quarter loss $2 billion, its first loss since acquisition of American Express co. , Lehmans management made unsuccessful overtures to a number of potential partners. They were hoping that Korean development bank would take stake in Lehman but it was not so as they put the talks on hold on September 9.That was the big blow for them which lead 45%decrease in the stock and spike in credit default swaps on the company debt. The companys hedge fund client began pull ing out, on the other hand creditors cuts credit lines. Then they suffer a loss of $3.9 billion,and at that time Moodys investor give credit ratings of and they said that Lehman would have to sell the majority stake to a strategic partner in order to avoid a rating downgrade. The main culprits were lender who ultimately lent funds to people with poor credit and a high risk of default Due to increase in interest rates 6 times the economy began to lose speed the dot com bubble burst, numerically on March 10 2000.As you can see in the graph subprime mortgage origination grew from $173 billion in 2001 to a record level of $665 billion in 2005, which represented an increase of nearly 300%. There is a clear relationship between the liquidity following September 11, 2001,ÂÂ  and subprime loan originations; lenders were clearly willing and able to provide borrowers with the necessary funds to purchase a home. Investment bank worsen the situation The increased use of the secon dary mortgage market by lenders added to the number of subprime loans lenders could originate. Instead of holding the originated mortgages on their books, lenders were able to simply sell off the mortgages in the secondary market and collect the originating fees. This freed up more capital for even more lending, which increased liquidity even more. The snowball began to build momentum. A lot of the demand for these mortgages came from the creation of assets that pooled mortgages together into a security, such as CDO. In this process, investment banks would buy the mortgages from lenders as securitisise these mortgages into bonds, which were sold to investors through CDOs. The chart below demonstrates the incredible increase in global CDOs issues in 2006. FUTURE STRATEGIES OF LEHMAN BROTHER The outlook for Lehman Brothers future seemed dim Sunday after Barclays PLC withdrew its bid to buy the beleaguered investment bank and government officials and Wall Street bankers rem ained at an impasse about a rescue plan. The withdrawal of Barclays, which along with Bank of America Corp. was considered a front-runner to buy Lehman, demonstrated how complicated negotiations over Lehmans fate had become. And, Sunday afternoon, The Wall Street Journal reported that Bank of America and Merrill Lynch Co. were involved in merger talks which would knock Bank of America out of contention as well. The Lehman talks were aimed at selling the investment bank in whole or in part. The sticking point was the potential buyers insistence that the Bush administration offer the kind of help it did in brokering the buyout of Bear Stearns Cos. last March, when the government agreed to a $29 billion loan to buyer JPMorgan Chase Co. from the Federal Reserve. But Treasury Secretary Henry Paulson said the government will not help close a Lehman deal. Lehman declined to comment on the talks. If no deal were reached, it raised the specter of a bankruptcy and liquidation o f the 158-year old investment bank. Bankers and investment banking officials briefed on the talks described them as being both complicated and fluid, and that there was still hope that an agreement can be brokered or that new bidders might emerge. They spoke on condition of anonymity because talks were ongoing. There were signs that Lehman Brothers Holdings Inc. might be edging closer to a bankruptcy filing, with several reports that it has hired Weil, Gotshal Manges, the law firm that handled the collapse of investment firm Drexel Burnham Lambert in 1990. Moreover, there was also an emergency trading session being held at the International Swaps and Derviatives Association to reduce risk associated with a potential Lehman Brothers Holdings Inc. bankruptcy. The ISDA, which arranges trades for derivatives, said it was allowing customers to make trades and unwind positions linked to Lehman but that those trades would be voided if no filing occurs before midnight. Barclays, Britains third-largest bank, backed out of talks on Sunday after emerging during the morning as a front-runner to take over Lehmans assets, according to a person inside the U.K. bank who spoke on condition of anonymity, in keeping with company policy. The person, who had knowledge of the talks, said the decision was very unlikely to change. He said Lehman was attractive but did not meet what he described as Barclays stringent requirements. The Journal said on its Web site that after Bank of America was unable to reach a deal for Lehamn, it turned instead to a possible combination with Merrill, considered a better fit for the bank. Several private-equity firms were also believed to be interested in Lehmans assets. Bankers and officials with direct knowledge of the discussions described the talks as complicated Sunday morning. Top officials from the Federal Reserve and the Treasury Department and executives from several Wall Street banks were huddled at the New York Feds downtow n Manhattan headquarters for a third day seeking a solution to Lehmans financial crisis. Failure could prompt skittish investors to unload shares of financial companies, a contagion that might affect stock markets around the world when they reopen Monday. Asian markets will begin trading Sunday night Eastern time. Achievement : In the fifth consecutive year, Lehman brothers ranked 1 in the all American research team survey in 2007. They got rank 4* in the 2006 All Europe Research Team survey ranking. They ranked 1* in the 2006 All America Sales survey. In 2006 Annual Awards, Lehman Brothers got five deal-related awards. In 2005 Annual Awards, the firm was named U.S. Equity House of the Year and U.S. Structured Equity House of the Year, and was also recognized in association with various deal-related awards. Lehman Brothers got several top-three rankings in the 2007 Global Custodian Prime Brokerage survey. In 1999, Lehman had 19 top-ranked analysts; in 2001 that shot up to 42 star analysts, an increase of 121%. The firm now places fifth in number of ranked analysts. SOME DETAIL ANALYSIS ARE GIVEN BELOW IN GRAPHICAL FORMAT Lehman Brothers gave mortgage loans to provide a monetary support to loan applicants. It generally provided loans to following sectors:- 1.Industrial Sectors 2.Retail Sectors 3.Corporate Sectors 4.Others- Private Loans, Small Business. The maximum percentage of loans were provided for industry. In the year 2006 Lehman Brothers earned a huge profit as they started to issue ipo. They earned lots of profit in Real Estate which gives height to the global equity market and loss was due they were not able to trim the massive portfolio of ipo.and also they had high degree of leverage it was 23:1 i.e. assets to shareholder due to global financial crisis on 7 th August 2007 which hit back the stock of Lehmans brother due to ALT A loan provided to borrower due to excessive interest rates put by federal reserve bank 6 times than the usual. OPERATION INCOME AND OPERATING EXPENSE Market Up and Down (2003-2007) MARKET CAPTURE (1998-2006) Lehman Brothers held a good market share in competition to its near competitors, It captured 29% of market in investments and finance. Its nearest competitor was Bear Stearns. THANK Y OU .