Essay about Depression in Teenagers - 2575 Words

Depression in Teenagers As a teenager, I have experienced depression countless number of times. Many times, I just feel sad, and other times, I feel like the world is not worth living in. Innumerable incidents also have occurred where some of my friends get badly depressed. Since many of my friends would try to talk to me about how they feel when they are depressed, I see a lot the pain and dejection they are going through. Through these experiences, depression began to scare me because of how inferior and worthless it can make a person feel, and where these low feelings would lead to. I realized that depression should not be allowed to dominate a person’s life as it would slowly eat him away. I felt I had to find out what†¦show more content†¦Studies have shown that when a deficiency of the neurotransmitter serotonin occurs, the levels of the neurotransmitter norepinephrine tend to fluctuate. When this neurotransmitter fluctuates, radical mood swings occur. Another factor that may cause dep ression is the environment. This factor is very general—it encompasses relationship problems, low self-esteem, high stress, and the conditions in which a person studies or works. For example, in a highly-competitive school, a student might be subjected to high stress from large work-loads and self-induced pressure to do well, thus increasing the chance of this student becoming depressed if he does not live up to the standards. Personality is the last but perhaps the most important factor. Studies have shown that people who are extremely self-critical or set unreasonably high goals are more likely to become depressed as they are constantly unhappy with themselves or unable to achieve their goals. Passive or dependent people are also more likely to get depressed because they feel that they don’t have control over what happens in their lives. People who are pessimistic get depressed easier also as they have a bleak outlook on their surroundings. Social cognitive therapist s think that depression occurs not because of what happens to a person, but because of how the person interprets what happens to him. Thus, people who are pessimistic or passive will become depressedShow MoreRelatedEssay on Depression in Teenagers1378 Words   |  6 PagesDepression in Teenagers Depression is the most common mental illness in the country today. Teenagers are easy prey for this disease. They are at a point in their lives when they must face important transitions and peer pressures. They are trying to understand themselves and where they fit in society, all of which can lead to behavioral and emotional changes. This is also a period when children and parents suffer from poor communication: teenagers often keep their true feelings andRead MoreWhy Teenagers Are Affected By Depression1147 Words   |  5 PagesResearch Paper Most people do not realize how prevalent depression is in our society, especially among the youth. It is seen as taboo and more often than not, it is â€Å"swept under the rug.† Also, there are many different stereotypes revolving around depression and the people suffering from it. People believe that depression looks a certain way and some even believe that sufferers are only looking for attention. However, that is not the case. Depression is a very important problem that should be taken veryRead MoreTeenager s Experiences With Depression Essay1334 Words   |  6 Pagesteenager’s experiences with depression, specifically how they interpret and understand their condition. Little research has been done to study how teenager’s daily activities, relationships and identity are affected while having a condition such as unipolar depression. Meanwhile, numerous amounts of studies have been run to analyze the experiences of adults with depression and the results that we re found are relatively similar to the findings within this study. Depression is the most common diagnosisRead MoreDepression Disorders in Teenagers Essay1878 Words   |  8 Pagesexperiences are good ones and some can be very stressful for young adults. In this generation, teen depression is becoming more common and is leaving kids with long term issues that affect their daily life. Experiencing major depression disorder at a young age is more damaging than experiencing it later in life because it can affect who you become and decisions you make in the future in a negative way. Depression can cover a wide range of thoughts, behaviors, and feelings. It is one of the most commonlyRead More Depression in Teenagers: A Growing Problem Essay1115 Words   |  5 PagesDepression in Teenagers: A Growing Problem Who has not, at some time or another, said, â€Å"I am depressed?† It is a line that slips off the tongue of people all too readily when they are bored or unhappy. But most people, when they say that, do not mean that they are clinically depressed, possibly wanting or needing treatment. Sadness is unpleasant but it is not as bad as depression. When people are sad, they keep their self-respect and they feel better after a good cry or a talk with a friendRead MoreIs Depression among Young Adults and Teenagers Related to Obesity?1862 Words   |  8 PagesResearch Question: Is Depression among young adults and teenagers related to obesity? Boutelle, K. N., Hannan, P., Fulkerson, J. A., Crow, S. J., Stice, E. (2010). Obesity as a prospective predictor of depression in adolescent females. Health Psychology, 29(3), 293-298. doi: 10.1037/a0018645 Teenage years are a very challenging and difficult period in the life of an adolescent. The main purpose of this article is to evaluate whether beingRead MoreHomophobia Is The Leading Cause Of Suicide And Depression Among Teenagers And Young Adults1846 Words   |  8 Pagesaffects students and even teachers. Homophobia in schools is the leading cause of suicide and depression among teenagers and young adults. I believe that this is a crucial situation and needs to be addressed both at home and in school. School officials must be permitted and comfortable with addressing issues of homosexuality and homophobia that students may have. This is crucial in not only enabling a LGBT teenager to get an education that is in a non-hostile environment, but also in enabling the studentRead MoreTeenage Depression Compared to Adult Depression Essay examples1287 Words   |  6 PagesTeenage depression is a mood disorder characterized by intense negative feelings and emotions. Depressio n goes beyond temporary feelings of sadness; it is a mental disorder that affects the way one’s mood is controlled by their brain. It is a serious medical illness that affects one’s thoughts, feelings, behavior, mood and physical health. These feelings can have a negative impact on a teenager’s life, leading to social, educational/vocational, personal and family difficulties. Depression is a realRead MoreEssay on Teen Depression1653 Words   |  7 PagesClinical depression is capable of ruining the future. In a few years, teenagers will be moving up in the world and beginning their lives as contributing members of society. Each one of them will have a job, and will encounter countless other individuals. The dilemma that the world faces is about 17% of teenagers will suffer from depression before they become adults (Canada). This impacts connections not only in the political/business world, but their personal lives and growth as well. TeenageRead MoreDoes An tidepressants Use in Teenagers Increase Suicide Rates?1039 Words   |  5 PagesIntroduction Teen depression is a serious condition that can be a devastating problem for both the child and parent. It is a disorder that reduces their moods thus causing loss of interest in things they should enjoy and make them irritable. In this literature review we are going to examine the use of antidepressants to treat teen depression. It will also look at the risks of suicides increased as a result of taking antidepressants and the measures taken to reduce this problem. Can antidepressants

Evaluation Of A Professional Social Worker Student Essay

Pia, which is a cute little name for the apple of your eyes, will be the pseudonym for the toddler observed for this analysis. As a professional social worker student, there are ethical guidelines that must be followed to ensure protection of observation participants. Consent was given by the guardian of Pia as the guardian understands the observation and interview is for educational purposes only. Pia is 2 years old, with dark hair and eyes and of light brown complexion. Pia lives with her mother and father who are both parents are natives of Guatemala. The family speaks both Spanish and English. Spanish is the language of choice when in the home and English when conversing with Americans. For the sake of the observation and interview, English was spoken so that observer would understand. From viewing family pictures, Pia looks a lot like her mother in her mother’s younger years. Pia is the only child born to her parents, but presently, her mother is expecting a second child in a few months. Another family member will live in the home when it is time for the mother to give birth. The family lives in a small, quiet neighborhood in the rural section of the county. The home requires cosmetic repairs and has minor structural damage. Pia’s father Alejo works at the area’s well-known construction company and makes enough money to provide for the family. The two- parent home allows Saniya to stay home mom so that she can parent Pia and care for the family’s three dogs who lives inShow MoreRelatedThe Code Of Ethics And Social Work1336 Words   |  6 PagesIntroduction Social work BSW students, generally, come from different background, experience, profession or without any professional experience. Mostly, social work professionals or students choose this career because they like helping profession or have some personal histories to relate to this profession. 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Market Survey on Commodities Future Trading Free Essays

string(187) " appropriate communication message for attracting the people to Geojit COMtrade Ltd SCOPE OF THE STUDY Globalization of the financial market has led to a manifold increase in investment\." An Industry Internship Project On COMMODITIES FURTURE TRADING WITH RESPECT TO GEOJIT COMTRADE LTD – MARKET SURVEY Done at CALICUT, KERALA Under the guidance of MRS. C. ANITHA RANI (Asst. We will write a custom essay sample on Market Survey on Commodities Future Trading or any similar topic only for you Order Now Professor of Marketing Dept. ) (Project Guide) Mr. CHACKO . C. VARGHEESE (Regional manager) (Corporate Guide) Submitted By: LAKSHMI. P. K Roll No: 20028 SIVA SIVANI INSTITUTE OF MANAGEMENT KOMPALLY, SECUNDERABAD ACKNOWLEDGEMENT First of all I would like to thank Geojit COMtrade Ltd, which is a leading organization in commodity trading, for giving me an opportunity to work with them and to do Market Research to gain practical knowledge of how a Commodities Company works. My special obligations to my corporate guide Mr. Chacko C Varghese, Regional manager, GC Branch, Calicut, for granting permission to do the project in their esteemed organization. I thank him for dedicating his valuable time in reviewing my project work periodically and for directing me all the way. I am deeply indebted to thank my faculty guideAsst. Prof. C. Anita Rani. I also like to thank all my faculties who have taught me and haveshared their experience with mewhich has helped us in doing my project. I am thankful to Mr. Ajeesh Paul and Mr. Bijesh K. B, senior executives of Geojit COMtrade ltd, Calicut who was always ready to clarify my doubts related to the topic. And my sincere thanks to them. Also, I am thankful to my family, friends, and classmates and to the Almighty. Date: Signature Place: DECLARATION I, Lakshmi. P. K declare that this project entitled â€Å"Market research on commodity future trading with respect to Geojit COMtrade Ltd. †, submitted for the award of the PGDM Triple Specialization is a record of original project – research study- carried out during April 5th- June 5th) , that the project has not formed before the basis for the award of any Degree/ Diploma/ Associateship/ Fellowship of any other similar title. Ithas been completed by me at Geojit COMtrade Ltd, Calicut under the guidance ofAsst. Prof. Anita Rani,faculty of marketing department of Siva Sivani Institute of Management. Date: Signature Place: C O N T E N T S DECLARATION ACKNOWLEDGEMENT CERTIFICATE TABLE OF CONTENTS PAGE NO Chapter – I Introduction 5 Statement of problem 5 Objectives of the study 6 Scope of study 6 Literature Review 6 Chapter – II Industry Profile 8 Company Profile 19 Departmental Details 26 Chapter-III Research Methodology 44 Sources of data 45 Sampling Plan 45 Limitations 45 Chapter IV Data Analysis: Interpretation and Findings 46 Chapter-V SWOT Analysis 71 Conclusion 73 Suggestions 74 Bibliography 75 Annexure 76 CHAPTER -I INTRODUCTION Commodity trading is an area which has gained prominence ever since the dawn of civilization. It can be attributed to the fact that commodities are an integral part of our lives. Over these years there has been a tremendous growth in this segment which in turn has acted as the pillar of strength for the development of our economy. This has made it an attractive investment avenue for investors. Earlier we witnessed lot of money being invested in those companies which specialized in the production of commodities. Now we have a trend reversal; commodities have gained prominence over the times. The rapidly advancing technology, particularly the Internet, has drastically changed the social and economic landscapes and every aspect of our daily lives. In the Securities Industry Futures Commodities, the Internet has facilitated on-line trading, changing the way the market works, as well as the way the investors access the market. Having taken advantage of information technology at an opportune time, India has emerged as a front-running country of on-line trading in the global securities commodities markets. On-line trading† is broadly defined as a trading mechanism where investors place orders and confirm trading results via electronic communication channels, such as the Internet, mobile phones, In India, the whole process of securities commodities transactions, from order placement and routing, order execution, to trade confirmation, is fully automated, thus enabling the investors who have placed orders to confirm their trading results within few seconds. Geojit COMtr ade Ltd. is a commodity trading service firm. It specializes in agricultural commodities, base metals, precious metals, bullion, and energy. The firm engages in trading services on commodities traded on the MCX and NCDEX in India. Its Research Division offers technical and fundamental research services. The firm also provides research on markets, currency, and economy. Geojit COMtrade Ltd. is based in Kochi, India. STATEMENT OF THE PROBLEM Online future commodities trading involve personal factors, technical factors, business factors and economic factors. The interplay of these factors on commodities market requires a deep study about the pattern process and procedures and performance. This study is intended to identify the various concepts about online commodities trading and its way of functioning. 1. To identify the level of awareness of commodities online future trading. 2. To identify the target consumer for online trading of commodities. 3. To identify the preference of customers to various investment avenues like commodity market, shares, mutual fund, bank deposits, insurance, debentures and post office savings. 4. To identify the awareness level of Geojit COMtrade Ltd. and feedback from the customers about the firm. OBJECTIVES OF THE STUDY My project work programmed was also directed to some particular targets and the main objectives of the study are as bellow; 1. To clearly state the awareness level about Geojit commodities 2. To understand the perception of people about Geojit commodities 3. To devise an approach by making people aware of Geojit commodities The Main purpose of conducting the Survey for Geojit COMtrade Ltd * To identify the target consumer for commodities business. * To identify the preference of customers to various investment avenues like commodity market, shares, mutual fund, bank deposits, insurance, debentures and post office savings. To identify the awareness level of Geojit COMtrade Ltd. and feedback from the customers about the firm. * To get a feel of the Customers’ perception about Geojit commodities services products. * To find an appropriate communication message for attracting the people to Geojit COMtrade Ltd SCOPE OF THE STUDY Globalization of the financial market has led to a ma nifold increase in investment. You read "Market Survey on Commodities Future Trading" in category "Essay examples" New markets have been opened; new instruments have been developed; and new services have been launched. Besides, a number of opportunities and challenges have also been thrown open. Online Commodities trading is new as compared to Equity market in India. Mainly three exchanges are involved in online commodities trading MCX, NCDEX NMCE LITERATURE REVIEW So many studies are made in the area of commodity future trading. Some of the important studies are reviewed as follows; In a well-known literature survey on commodity futures research, Gray and Rutledge observed that, ‘Anyone who undertakes a survey of the literature on futures trading is confronted with an amorphous and rather disjointed list of publications (1971 p 57). Some of the pioneers in futures research, like Hol brook Working, Roger Gray, Tom Hieronymus, Allen Paul, and Henry Bakenwere based on an in-depth understanding of economic institutions, an appreciation of the major problems facing the industry, and careful analysis of relevant data. Gray and Rutledge (1971) provide the most comprehensive survey on futures markets and the topics covered in their review include evolutionary aspects of futures markets, inter-temporal price relationships, and concept of hedging, price variability, and the stochastic nature of price fluctuations. The Keynesian theory of normal backwardation was one of the earliest theories of the inter-temporal futures prices and it postulated that futures prices are biased estimates of forthcoming cash prices because hedgers must compensate speculators for assuming the price risk of holding future contracts * Working (1949) developed the idea that the primary function of commodity futures markets was the provision of th e returns for the storage services, and he viewed inter-temporal prices as the jointly determined price of storage. Holbroook Working (1953) categorized alternative motives for commercial hedging in the commodity futures and these categories continue to be valid today. The three arbitrage hedging, operational hedging and anticipatory hedging. Since the futures and cash price converge in the delivery month, a commercial firm can ‘arbitrage’ the two markets and earn a risk-free return from the predictable change in the basis- the mathematical difference between the futures and cash price. Operational hedging facilitates commercial business by allowing firms to buy and sell on the futures markets as temporary substitutes for the subsequent cash market transactions. This provides firms with an avenue for being flexible in day-to-day operations and reducing price risk. Anticipatory hedges involve buying or selling futures contracts by commercial firms in ‘anticipation’ of the forthcoming cash market transactions. Price expectation plays a major role in this type of hedge. * Leuthold and Tomek (1980) explained that semi-perishables (e. . , butter, eggs, onions, potatoes) were traded at the turn of the century but the introduction of trading in nonstorables such as live hogs and live cattle in the 1960s was a watershed for the industry. They argued that since future prices for nonstorables are not being used to allocate inventories, forward pricing is an important economic justification for these markets They pointed out that some of the farmers remain concern ed about the alleged adverse influence of futures trading. According to theoretical literature, primary commodity producers stand to derive considerable price risk reduction benefit from hedging with either future contracts or forward contracts (Johnson 1960; Stein 1961; McKinson in 1967; Danthine 1978; Holthausen 1979; Feder, Just and Schmitz 1980; Andearson and Danthine 1983) * According to empirical literature either minimum variance hedge ratios or optimal hedge ratios (i. e. % of output to be hedged) and has found large potential risk reduction benefits from hedging (Henifner 1972; Peck 1975; Ederington 1979; Grant and Eaker 198559; Casteino 1992; Lene, Kimle, and Hayenga 1993) * But both theoretical and empirical literature appears to contradict reality because very few primary producers actually hedge (Helmuth 1977; Berk 1981; Brorsen 1995) * Survey results of Blank, Carter and McDonald 1997 found thatfarmers prefer forward contracting to direct hedging with future contracts. According to Miller (1986) the one key distinguishing feature between these two factors is the absence of basic risk in forward contracting. * Carter and Loyns (1985) found that due to a high basis risk, there was a little incentive for Canadian feedlots to hedge cattle on the Chicago futures market. * Rolfo in 1980 suggested production risk as an explanation for the lack of hedging interest in the real world. Most research needs to be directed towards the impact of government farm programs on commodity futures markets, along the lines of Crain and Lee (1996) * The theory of price of storage explains inverted markets by appealing to the concept of convenience yield. According to this theory, the futures price can be less than the spot price plus the cost of carry when the commodity generates convenience yield. CHAPTER -II INDUSTRY PROFILE 1) COMMODITY MARKET A commodity is a material that is traded in big quantities and whose quality standards and price are objective and universally applicable. For example, gold is a commodity because quality standards and price of gold are objective and universal, but gold jewelry is not a commodity because the price of jewelry depends on subjective factors such as design, brand image, etc. Other examples of commodities are: agricultural produce such as food grains, pulses, cotton, etc. ; metals such as nickel, zinc, aluminum, etc. Commodity markets  are markets where raw or primary products are exchanged. These raw commodities are traded on regulated  commodities exchanges, in which they are bought and sold in standardized contracts. It covers physical product (food, metals, and electricity) markets but not the ways that services, including those of governments, nor investment, nor debt, can be seen as a commodity. Commodity Market is an organized trader’s exchange in which standardized, graded products are bought and sold. Worldwide, there are 50 major commodity exchanges that trade over 100 commodities, ranging from wheat and cotton to silver and oil. The trading of commodities consists of direct physical trading and derivatives trading. Exchange traded commodities have seen an upturn in the volume of trading since the start of the decade. This was largely a result of the growing attraction of commodities as an asset class and a proliferation of investment options which has made it easier to access this market. Commodity trading Spot trading Spot trading is any transaction where delivery either takes place immediately, or with a minimum lag between the trade and delivery due to technical constraints. Spot trading normally involves visual inspection of the commodity or a sample of the commodity, and is carried out in markets such as  wholesale markets. Commodity markets, on the other hand, require the existence of agreed standards so that trades can be made without visual inspection. Forward contracts A  forward contract  is an agreement between two parties to exchange at some fixed future date a given quantity of a commodity for a price defined today. The fixed price today is known as the  forward price. Futures contracts A  futures contract  has the same general features as a forward contract but is transacted through a futures exchange. Futures contracts — which set a price for the delivery of a particular commodity in, say, six months or a year — are not themselves to blame. They’re the grease that makes these markets function. Futures allow businesses like power companies or airlines to hedge against increases in fuel costs, or food processors to smooth over fluctuations in the price of wheat and corn. Wall Street plays an invaluable role, too, since financial investors — those betting that prices will fall, as well as those betting they’ll rise — provide crucial liquidity. Commodity and futures contracts are based on what’s termed forward contracts. Early on these forward contracts — agreements to buy now, pay and deliver later — were used as a way of getting products from producer to the consumer. These typically were only for food and agricultural products. Forward contracts have evolved and have been standardized into what we know today as futures contracts.. In essence, a futures contract is a standardized forward contract in which the buyer and the seller accept the terms in regards to product, grade, quantity and location and are only free to negotiate the price. Hedging Hedging, a common practice of farming cooperatives insures against a poor harvest by purchasing  futures contracts  in the same commodity. If the cooperative has significantly less of its product to sell due to weather or insects, it makes up for that loss with a profit on the markets, since the overall supply of the crop is short everywhere that suffered the same conditions. Delivery and condition guarantees In addition, delivery day, method of settlement and  delivery point  must all be specified. Typically, trading must end two (or more) business days prior to the delivery day, so that the routing of the shipment can be finalized via ship or rail, and payment can be settled when the contract arrives at any delivery point. Most trading is done in futures contracts, that is, agreements to deliver goods at a set time in the future for a price established at the time of the agreement. Futures trading allow both hedging to protect against serious losses in a declining market and speculation for gain in a rising market. For example, a seller may sign a contract agreeing to deliver grain in two months at a set price. If the grain market declines at the end of two months, the seller will still get the higher price quoted in the future contract. If the market rises, however, speculators buying grain stand to profit by paying the lower contract price for the grain and reselling it at the higher market price. Spot contracts, a less widely used form of trading, call for immediate delivery of a specified commodity and are often used to obtain the goods necessary to fulfill a futures contract. An independent U. S. regulatory agency, the Commodity Futures Trading Commission was established in 1974 to regulate commodity markets. In 1982, the Chicago Mercantile Exchange introduced a futures contract for Standard ; Poor’s 500 U. S. companies that allow investors to speculate on the future prices of the stocks. Trading of S;P 500 and other financial futures has broken down some of the barriers that once separated stock, bond, and commodity markets and made it easier for investors to hedge their stock investments. Critics charge that the futures trading at the commodity markets in Chicago have made stock prices more volatile. The Chicago Board of Trade is the largest futures and options exchange in the Unites States, the largest in the world is Eurex, an electronic European Exchange. GLOBAL COMMODITY MARKET It is the trading of materials used to make finished products, Is far more important that what the most people give it credit for. It’s what to gives millions consumers worldwide their cups of creamy lattes, their breakfast cereals, the steel for their home construction, and even the fuel to run their cars. In fact international commodity trading is a multi-billion dollar business, and on average the number of trade executed in the commodity exchanges are about five times as much as those on major stock exchanges. And to be honest in the recent past it has been anything but dull. In the past five years commodities have provided all the thrills and spills of a high octane Vin Diesel movie. The idea of trading in commodity future contracts is really very old –school, although it has occurred new age glitz because of electronic exchanges. Most experts trace their origins back to Japan, were rice futures were first traded in the 17th century. Future market for precious metals such as gold and silver has also been around since in the 19th century with maize contracts with the Chicago Board Of Trade (CBOT). Basically commodity futures allow buyers and sellers to make bets on the expected future spot prices. They help both sides obtain insurance for the future value of their outputs or inputs. Cereals were first to be traded under the future contracts and the farmers were the first to use such contracts as they protect them from any steep fall in the value of crop harvested in future. Commodity future differed from equity derivatives in three important ways; 1. They are derivative securities not claims on long living corporations. 2. They are short maturity claims on real assets 3. nlike financial assets, they experience distinct seasonal variations in price and volatility Today there are more than 50 commodity exchanges in the world wide trading in more than 100 products. The major products come under five categories; 1. Precious metals (gold, silver, platinum, etc. ) 2. Industrial metals (copper, nickel, aluminum, zinc, etc. ) 3. Agricultural commodities (wheat, corn, cotton, oilseeds, coffee, cocoa, sugar etc. ) 4. Livestock (pork bellies, cattle, etc. ) 5. Energy(crude oil, natural gas, petrol, diesel etc. ) Oil makes up the world’s largest commodity future market. Daily turnover on the New York Mercantile Exchange(NY mex) alone totals about $15 billion) followed by coffee, steel, gold and wheat. New contract ideas however keep popping up all the time. For instance, freight futures are also traded on the Norwegian futures and Options Clearing house and the Nymex. While the Chicago Mercantile exchnge9 now taken over by the CBOT) offers contracts on temperatures, useful for hedging agricultural commodity or energy prices. COMMODITY FUTURE TRADING EVOLUTION OF FUTURE TRADING AND ITS PRESENT STATUS Organized future market evolved in India by the setting up of â€Å"Bombay Cotton Trade Association Ltd. in 1875. In 1893, following widespread discontent amongst leading cotton mill owners and merchants over the functioning of the Bombay Cotton Trade Association , a separate association by the name â€Å"Bombay COTTON Exchange Ltd. † was constituted. Futures trading in oilseeds were organized in India for the first time with the setting up of Gujarati VyapariMandali in 1900, which carried on futures trading in groundnut, castor seed and cotton. Before the Second World War broke out in 1939 several futures markets in oilseeds were functioning in Gujarat and Punjab. Future trading in Raw Jute and Jute Goods began in Kolkata with the establishment of the Calcutta Hessian Exchange Ltd. , in 1919. Later East Indian Jute Association Ltd. was set up in 1927 for organizing futures trading in Raw Jute. These two association amalgamated in195 to form the present East India Jute ; Hessian Ltd. , to conduct organized trading in both Raw Jute and Jute goods. In case of wheat, future markets were in existence at several centers at Punjab and U. P. The most notable amongst them was Chamber of Commerce at Hapur, which was established in1913. Other markets were located at Amritsar, Moga, Ludhiana, Jalandhar, Fazilka, Dhuri, Barnala and Bhatinda in Punjab and Muzaffarnagar, Chansausi, Meerut, Saharanpur, Hathras, Ghazibad, Sikenderabad and Barielly in U. P. Futures market in Bullion began at Mumbai in 1920 and later similar markets came up at Rajkot, Jaipur, Jamnagar, Kanpur, Delhi and Calcutta. In due course several other exchanges were also created in the country to trade in such diverse commodities as pepper, turmeric, potato, sugar and Gur (jaggory). After independence, the Constitution of India brought the subject of â€Å"Stock Exchanges and Futures† in the Union list. As a result, the responsibility for regulation of commodity futures markets developed on Govt. of India. A bill on forward contracts was reffered t an expert committee headed by Prof. A. D. Shroff select committees of two successive Parliaments and finally in December 1952 Forward Contracts (Regulation) Act, 1952, was enacted. The Act provided for 3-tier regulatory system; (a) An association recognized by the Government of India on the recommendation of Forward markets Commission (b) The Forward Markets Commission (it was set up in September 1953) (c) The Central Government. Forward Contracts (Regulation) Rules were notified by the Central Government in July, 1954. The Act divides the commodities into 3 categories with reference to extent of regulation, viz: (a) The commodities in which futures trading can be organized under the auspices of recognized association. (b) The Commodities in which the future trading is prohibited. (c) Those commodities in which have neither being traded under the recognized association nor prohibited are referred as free Commodities and the association organized in such free commodities is required to obtain the certificate of Registration from the forward Markets Commission. In the seventies, most of the registered associations became inactive, as futures as well as forward trading in the commodities for which they were registered came to be either suspended or prohibited altogether. The Khursho Committee(June 1980) had recommended reintroduction of futures trading in most of the major commodities, including cotton, Kapas, raw jute and jute goods and suggested that steps may be taken for introducing futures trading in commodities, like potatoes, onions, etc. at appropriate time. The government, accordingly initiated futures trading in Potato during the latter half of 1980 in quite a few markets in Punjab and Uttar Pradesh. After the introduction of economic reforms since June 1991 and the consequent gradual trade and industry liberalization in both the domestic and external sectors, the Govt. of India appointed in June 1993 one more committee on Forward Markets under Chairmanship of Prof. K. N. Kabra. The Committee submitted its report in September 1994. THE MAJORITY REPORT OF THE Committee ecommended that futures trading be introduced in 1) Basmati Rice 2) Cotton ; Kapas 3) Raw Jute ; Jute Goods 4) Groundnut, rapeseed/mustard seed, cottonseed, sesame seed, sunflower seed, safflower seed, copra and soya bean, ; oils and oilcakes of all of them. 5) Rice brain oil 6) Castor oil ; its oilcake 7) Linseed 8) Silver ; 9) Onions. The committee also recommended that some of the existing commodity exchanges particularly the ones in pepper and castor seed, may be upgr aded to the level of international future markets. The liberalized policy being followed by the Government of India and the gradual withdrawal of the procurement and distribution channel necessitated setting in place a market mechanism to perform the economic functions of price discovery and risk management. The National Agriculture Policy announced in July 2000 and announcements of Hon’ble Finance Minister in the Budget Speech for 2002-2003 were indicative of Governments resolve to put in place a mechanism of futures trade/market. As a follow up the Government issued notifications on 1. 4. 003 permitting futures trading in the commodities, with the issue of these notifications futures trading is not prohibited in any commodity. Options trading in commodity are, however presently prohibited. ECONOMIC BENEFIT OF FUTURE TRADING ; ITS PROSPECTUS Futures contracts perform two important functions of price discovery and price risk management with reference to the given commodity. It is useful to all segments of economy. It is useful to producer because he can get an idea of the price likely to prevail at a future point of time and therefore can decide between various competing commodities, the best that suits him. It enables the consumer get an idea of the price at which commodity would be available at a future point of time. He can do proper costing and cover his purchases by making forward contracts. The futures trading is very useful to the exporters as it provides an advance information of the price likely to prevail and thereby help the exporter in quoting a realistic price and thereby secure export contract in a competitive market. Having entered into an export contract, it enables him to hedge his risk by operating in futures market. Other benefits of futures are: (i) Price stabilization-in times of violent price fluctuations – this mechanism dampens the peaks and lifts up the valleys i. e. the amplitude of price variation is reduced. (ii) Leads to integrated price structure throughout the country. (iii) Facilitates lengthy and complex, production and manufacturing activities. (iv) Helps balance in supply and demand position throughout the year. (v) Encourages competitions and acts as a price barometer to farmers and other trade functionaries. Futures trading are also capable of being misused by unscrupulous speculators. In order to safeguard against uncontrolled speculation certain regulatory measures are introduced from time to time. They are: (a) Limit an open position of an individual operator to prevent over trading. (b) Limit on price fluctuation (daily/weekly) to prevent abrupt upswing or downswing in prices (c) Special margin deposits to be collected on outstanding purchases or sales to curb excessive speculative activity through financial restraints. d) Minimum/maximum prices to be prescribed to prevent future prices from falling below the levels that are un remunerative and from rising above the levels not warranted by genuine supply and demand factors. During shortages, extreme like skipping trading in certain delivers of contract, closing the markets for a specified period and even closing out the contract to overcome emergency situations are taken. PROSPECTS With the gradual withdrawal of the government from v arious sectors in the ost liberalization era, the need has been felt that various operators in the commodities market be provided with a mechanism to hedge and transfer their risks. India’s obligation under WTO to open agriculture sector to world trade would require futures trade in a wide variety of primary commodities and their products to enable diverse market functionaries to cope with the price volatility prevailing in the worlds market. CHARECTERISTICS OF FUTURE TRADING A â€Å"Futures Contract† is a highly standardized contract with certain distinct features. Some of the important features are as under: (a) Futures trading are necessarily organized under the auspices of a market association s that such trading is confirmed to or conducted through members of the association in accordance with the procedure laid down in the Rules ; byelaws of the association. (b) It is invariably entered into for a standard variety known as â€Å"basis variety† with the permission to deliver other identified varieties known as â€Å"tender able varieties†. (c) The units of price quotation and trading are fixed in these contracts, parties to the contracts not being capable of altering these units. d) The delivery periods are specified. (e) The seller in a futures market has the choice to decide whether to deliver goods against outstanding sale contracts. In case he decides to deliver goods, he can do so not only at the location of the Association through which trading is organized but also at a number of other pre-specified delivery centers. (f ) In futures market actual delivery of goods takes place only in a very few cases. Transactions are mostly squared up before the due date of the contract and contract and contracts are settled by payment of differences without any physical delivery of goods taking place. RECENT TRENDS IN COMMODITY TRADING Nature’s Commodity Outputs Commodity thinking is undergoing a more direct revival thanks to the theorists of â€Å"natural capital whose products, some economists argue, are the only genuine commodities- air, water and calories we consume being mostly interchangeable when they are free of pollution or disease. Whether we wish t think of these things as tradable commodities rather than birthrights has been a major source of controversy in many nations. Most types of environmental economics consider the shift to measuring them inevitable arguing that reframing political economy to consider the flow of these basic commodities first and foremost, helps avoids use of any military fiat except to protect â€Å"natural capital† itself, and basing credit-worthiness more strictly on commitment to preserving biodiversity aligns the long-term interests of eco regions societies, and individuals. They seek relatively conservative sustainable development schemes that would be amiable to measuring well-being over long periods of tie, typically â€Å"seven generations†, in line with Native American thought. Weather trading However, this is not the only way in which commodity thinking interacts with ecologists’ thinking. Hedging began as a way to escape the consequences of damage done by natural conditions. It has matured not only into a system of interlocking guarantees, but also into a system of indirectly trading on the actual damage done by weather, using weather derivatives for a rice, this relieves the purchaser of concerns such as whether a freeze will hurt the Brazilian coffee crop, whether there will be a drought in the U. S. orn belt and what the chances that we will have a cold winter are, driving natural gas prices higher and creating havoc in Florida orange areas. Emissions Trading Weather trading is just one example of â€Å"negative commodities†, units of which represent harm rather than good. â€Å"Economy is three fifths of ecology argues Mike Nickerson one of many economic theorists who hold that nature’s productive services and waste disposal serv ices are poorly accounted for. One way to fairly allocate the waste disposal capacity of nature is â€Å"cap and trade†- market structure that is used to trade toxic emissions rights in the United States, e. . SO2. This is in effect a â€Å"negative commodity†, a right to throw something away. In this market, the atmosphere’s capacity to absorb certain amounts of pollutants is measured, divided into units, and traded amongst various market players. Those who emit more SO2 must pay those who emit less. Critics of such schemes argue that unauthorized or unregulated emissions still happen, and that â€Å"grandfathering† schemes often permit major polluters, such as the state governments’ own agencies, or poorer countries, to expand emissions and take jobs, while the SO2 output still floats over the border and causes death. In practice, political pressure has overcome most such concerns and it is questionable whether this is a capacity that depends on U. S. clout: The Kyoto Protocol established a similar market in global greenhouse gas emissions without U. S. support. Community as a commodity This highlights one of the major issues with global markets of either the positive or negative kind. A community must somehow believe that the commodity instrument is real, enforceable, and well worth paying for. Avery substantial part of the anti-globalization movement opposes the Commodification of currency, national sovereignty, and traditional cultures. The capacity to repay debt, as in the current global credit money regime anchored by the Bank for international settlements, does not in their view correspond to measureable benefits to human wellbeing worldwide. They seek a fairer way for societies to compete in the global markets that will not require conversion of natural capital to natural resources nor human capital to move to developed nations in order to find work. Some economic systems green economists would replace â€Å"gold standard† with a â€Å"biodiversity standard†. It remains to be seen if such plans have any merit other than as olitical ways to draw attention to the way capitalism itself interacts with life. Human life as a commodity The green economists and the more conservative environmental economics argue that not only natural ecologies, but also the life of the individual human being is treated as a commodity by the global markets. A good example is the IPCC calculations cited by the Global Commons Institute as placing a value on a human life in the developed world â€Å"15x higher† than in the developing world, based solely on the ability to pay to prevent climate changes. Overview of commodities exchange in India Forward Markets Commission (FMC) headquartered at Mumbai, is a regulatory authority which is overseen by the Ministry of Consumer Affairs, Food and Public Distribution, Govt. of India. It is a statutory body set up in 1953 under the Forward Contracts (Regulation) Act, 1952. â€Å"The Act provides that the Commission shall consist of not less than two but not exceeding four members appointed by the Central Government out of them being nominated by the Central Government to be thereof. Currently Commission comprises three members among whom Shri. B. C. Khatua, IAS, IS THE Chairman and Shri. D. S. Kolamkar IES, and Shri Rajeev Kumar Agarwal, IRS, are the members of the commission. † The functions of Forward Markets Commission are as follows: (a) To advise the Central Government in respect of the recognition or the withdrawal of recognition from any association or in respect of any other matter arising out of the administration of the Forward Contracts(Regulation) Act 1952. (b) To keep forward markets under observation and to take such action in relation to them, as it may consider necessary, in exercise of the powers assigned to it by or under the Act. c) To collect and whenever the Commission thinks it necessary, to publish information regarding the trading conditions in respect of goods to which any of the provisions of the act is made applicable, including information regarding supply, demand and prices, and to submit to the Central Government, periodical reports on the working of forward markets relating to such goods. (d) To make recommendations generally with a view to improving the organization and working of forward markets. (e) To understand the inspection of the accounts and other documents of any recognized association or any member of such association whenever it considers. List of Commodity Exchanges in India 1. Batinda Om ; Oil Exchange Ltd. , Batinda. 2. The Bombay Commodity Exchange Ltd. , Mumbai 3. The Rajkot Seeds oil ; Bullion Merchants` Association Ltd 4. The Kanpur Commodity Exchange Ltd. , Kanpur 5. The Meerut Agro Commodities Exchange Co. Ltd. , Meerut 6. The Spices and Oilseeds Exchange Ltd. 7. Ahmedabad Commodity Exchange Ltd. 8. Vijay Beopar Chamber Ltd. , Muzaffarnagar 9. India Pepper ; Spice Trade Association, Kochi 10. Rajdhani Oils and Oilseeds Exchange Ltd. , Delhi 11. National Board of Trade, Indore 12. The Chamber Of Commerce, Hapur 13. The East India Cotton Association, Mumbai 4. The Central India Commercial Exchange Ltd. , Gwalior 15. The East India Jute ; Hessian Exchange Ltd. 16. First Commodity Exchange of India Ltd, Kochi 17. Bikaner Commodity Exchange Ltd. , Bikaner 18. The Coffee Futures Exchange India Ltd, Bangalore 19. Esugarindia Limited 20. National Multi Commodity Exchange of India Limited 21. Surendranagar Cotton oil ; Oilseeds Association Ltd 22. Multi Commodity Exchange of India Ltd 23. National Commodity ; Derivatives Exchange Ltd 24. Haryana Commodities Ltd. , Hissar 25. e-Commodities Ltd Of these 25 commodities exchanges the MCX, NCDEX and NMCEIL are the major Commodity Exchanges. Multi  commodity exchange  of India Ltd – MCX is an independent and de-mutualised exchange based in Mumbai. Established on 10 November, 2003, it is the third largest bullion exchange and fourth largest energy exchange in the world. Recognized by the Government of India it deals in numerous commodities and carries out online trading, clearing and settlement processes for commodities future market  countrywide. MCX COMDEX is India’s foremost and sole composite commodity futures price index National Commodity Derivatives Exchange of India Ltd (NCDEX) located in Mumbai, is a public limited company incorporated on 23rd April 2003. Promoted by national level establishments it is run by professional management. Regulated by the Forward Market Commission with reference to futures trading in commodities, it trades in various commodities online. The NCDEX is covered by: * Companies Act * Stamp Act * Contracts  Act * Forward Commission (Regulation) Act National Multi-Commodity Exchange of India Limited (NMCEIL) is considered the first de-mutualized, online exchange dealing in numerous commodities. Incorporated on 20th December 2001, it is promoted and run by: * Central Warehousing Corporation National Agricultural Cooperative Marketing Federation of India Limited * Gujarat Agro Industries Corporation Limited * National Institute of Agricultural Marketing * Gujarat State Agricultural Marketing Board * Neptune Overseas Limited The Commodity Exchanges with their extensive reach embrace new participants, resulting in a powerful price discovery process. COMPANY PROFILE Evolution of the company It all started in the yea r 1987 when Mr. C. J. George and Mr. Ranajit Kanjilal founded Geojit as a partnership firm. In 1993, Mr. Ranajit Kanjilal from the firm and Geojit became the proprietary concern of Mr. C. J. George. In 1994, it became a Public Limited Company named Geojit Securities Ltd. The Kerala State Industrial Development Corporation Ltd. (KSIDC) in 1995, became a co-promoter of Geojit by acquiring a 24 percent stake in the company, the only instance in India of a government entity participating in the equity of a stock broking company. The year 1995 also saw Geojit being listed on the leading regional stock exchanges. Geojit listed at the stock exchange, Mumbai (BSE) in the year 2000. Company’s wholly owned subsidiary, Geojit Commodities Ltd. launched Online Future Trading in Agri -commodities, precious metals and energy futures on multiple commodity exchanges in 2003. This was also the year when the company was renamed Geojit Financial Service Ltd. (GFSL). The Board consists of professional directors; including a Kerala Government nominee. With effect from July 2005, the Company is also listed at National Stock Exchange (NSE). Company is a character member of the Fina ncial Planning Standards Board of India and is one of the largest Depository Participant (DP) brokers in the country. On 31st December 2007, the company closed its commodities business and surrendered its membership in the various commodity exchanges held by Geojit Commodities Ltd. Global banking major BNP Paribas took a stake in the year 2007 to become the single largest shareholder. Consequently, Geojit Financial Services Ltd. has been renamed as Geojit BNP Paribas Financial Services Ltd. VISION The vision of Geojit is to be leading financial and commodities market intermediary for individuals and institutional clients from India band overseas. They continually strive to raise their products and service standards by intelligent application of technology and processes. MANAGEMENT OF GEOJIT COMTRADE Geojit COMtrade offers trading services in Commodities Futures. It is managed by a group of professionals having considerable years of experience and expertise in Commodities, ever since the reintroduction of Commodities Futures in India in 2003. Geojit COMtrade offers its client state-of-art trading tools such as:    * | * Technical and fundamental analysis at this website and also through the company’s large branch network | * | * Research Reports | | * SMS alerts on market movement | * | * Content rich website | * | * Online trading | * | * Facility to view online ledger, holdings, positions, etc. | Geojit COMtrade also conducts seminars, distributes free in-house literature and holds interactive sessions that help raise awareness on the future market. The number of participants is continuously on the rise thus leading to increased volumes and market efficiency. Geojit COMtrade is a member of the following Exchanges: * National Multi Commodity Exchange of India Limited (NMCE) | | * National Commodity ; Derivatives Exchange Limited (NCDEX) | | * Multi Commodity Exchange of India Limited (MCX) | | * National Spot Exchange of India Ltd (NSE) | Geojit COMtrade offers futures trading through multiple exchanges in varied commodities such as: Agricultural Commodities: | * Plantation Crops like Rubber, Coffee, Arecanut, etc. | | * Spices like Pepper, Cardamom, Turmeric, Jeera, Chilly, etc. | | * Pulses like Chana | | * Oil ; Oil Seeds like Refined Soya oil, Soya bean, Cotton seed, Mustard Seed, Mustard oil, etc. | * Cereals like Maize | | * Other commodities like Guar gum, Guar seed, Menthaoil, Potato, Sugar, etc. | | * Commodity Spot products like E Gold, E Silver, E Copper, E Lead, and E Zinc. | Precious metals: | * Gold, Silver, and Platinum | Metals: | * Copper, Lead, Aluminum, Steel, Tin, Nickel, Zi nc, etc. | Energy products: | * Crude oil, Natural Gas, Carbon Credits, etc. MILESTONES | | | Product innovation backed by a high level of domain specific knowledge and state-of-the-art technology has helped Geojit to set many milestones including numerous industries. 986 * Membership in Cochin Stock Exchange (CSE). 1994   * Becomes a Public Limited Company named Geojit Securities Ltd. 1995   * Kerala State Industrial Development Corporation Ltd. (KSIDC) acquires 24 percent equity stake. * Membership in National Stock Exchange (NSE). * Public Issue  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  1996 * Launch of Portfolio Management Services with SEBI registration. 1997   * Depository Participant (DP) under National Securities Depository Limited. 1999   * Membership in Bombay Stock Exchange (BSE). 2000 * BSE Listing. * 1st broking firm in India to offer online trading facility. * Commences Derivative Trading with NSE. Integrates the 1st Bank Payment Gateway in the country for Internet Trading. 2 001 * Becomes India’s first DP to launch depository transactions through Internet. * Establishes Joint Venture in the UAE to serve NRI customers. 2002 * 1st in India to launch an integrated internet trading system for Cash Derivatives segments. 2003 * Geojit Commodities Limited, wholly owned subsidiary, launched Online Futures Trading in agri-commodities, precious metals and in energy futures on multiple commodity exchanges. * National launch of online futures trading in Rubber, Pepper, Gold, Wheat and Rice. Company renamed as Geojit Financial Services Ltd. 2004 * National launch of online futures trading in Cardamom. 2005 * NSE Listing. * Geojit Credits, a subsidiary, registers with RBI as a Non-Banking Financial Company (NBFC). * National launch of online futures trading in Coffee. 2006 * Charter member of the Financial Planning Standards Board of India. 2007 * BNP Paribas takes a stake in the company’s equity, making it the single largest shareholder. * Establishes Joint Venture in Saudi Arabia to serve the Saudi national and the NRI. 2008 * BNP Paribas Securities India (P) Ltd. – a Joint Venture with BNP Paribas S. A. or Institutional Brokerage. * 1st brokerage to offer full Direct Market Access execution in India for institutional clients. 2009 * Launch of Property Services division. * Launch of online trading in Currency Derivatives. * Consequent to BNP Paribas becoming the largest stakeholder in Geojit BNP Paribas, company is renamed as Geojit BNP Paribas Financial Services Ltd. 2010 * Launch of  FLIP (Financial Investment Platform), a new advanced online investment platform. * Launch of state of the art Mobile Trading platform to empower clients to trade from anywhere, even while on the move through the innovative application FLIP- ME. | | | | | Board of DirectorsMr. A. P. Kurian  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive Independent ChairmanMr. C. J. George   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Managing Director Chief PromoterMr. Alkeshkumar Sharma  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive Independent DirectorMr. Olivier Le Grand  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorMr. Pierre Rousseau  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorMr. Mahesh Vyas   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive Independent DirectorMr. RakeshJhunjhunwala   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorMr. RamanathanBupathy   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive Independent DirectorMr. Pun noose George   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorA growing footprintWith a presence in almost all the major states of India, the network of 558 offices across 300 cities and towns presently covers Andhra Pradesh, Bihar, Chattisgarh, Goa, Gujarat, Haryana, Jammu Kashmir, Karnataka, Kerala, Madhya Pradesh, Maharashtra, New Delhi, Orissa, Punjab, Rajasthan, Tamil Nadu Pondicherry, Uttar Pradesh, Uttaranchal and West Bengal. GEOJITCOMMODITIES * Number 1 Broking house status in terms of Trading Terminals : Dun Bradstreet Survey 2008 * The first brokerage to offer online trading in Rubber (Mar 2003), Pepper (Apr2003), Gold (Oct2003), Wheat and Rice (Dec2003), Cardamom (Apr 2004) and Coffee (Feb2006) * Brand image of Industry Pioneer since inception of commodity futures in 2003| Its clientele range from investors, co-operative societies, state and national institutions to dealers, traders, manufacturers, financiers, speculators, arbitragers, etc. Geojit COMtrade does not have proprietary interest in any commodity and therefore is price neutral. Transaction costs are highly affordable attracting a spectrum of investors. Membership in multiple exchanges gives clients the added advantage of arbitrage. Geojit has specialized staff that provide the required guidance, help and enable clients to enter at the appropriate price. Geojit COMtrade: Increasing investor awareness/education * Daily, weekly and special reports on various commodities currencies covering both international as well as domestic markets. Seminars and workshops designed to help both the new clients as well as experienced traders. * Increased media spending to make ourselves more visible in print, visual as well as digital media, so that our reports and views reach better to our investors. * Offers SMS / email reports at no additional cost. GEOJIT ANTHEM DRIVEN BY TRUST â€Å"With trust, our driving force Transparent in daily chores, Passionate, compassionate, We keep Geojit on course Respectful of our call We care for our patrons’ all. Grateful for our growth before We seek blessings to grow tall. Shanti ho barabaar shanti ho Sayyam, Samridhi, Swaasthya ho, Geojit Jahaan ho! Expanding far and wide, And serving the world with pride, Loyalty inspiring us To be beyond the high tide; A brighter word to make Unfurling the flag we take; â€Å"All for one and one for all,† With love to last above all. DEPARTMENTAL STUDY Administration * Provides support and service for the activities of the board of directors * Coordination of branch activities and provision of interaction between branches and the main office * Expanding the reorganization of Bank market network. * To create appropriate condition for efficient operation of structural franchisees Human resource Human Resources and Administration department is one, which facilitates smooth working of the organization by looking into the human resource side and also the overall administration of organization. The Human Resource Management is very important for the success of any organization. Different individual exhibit similar and dissimilar pattern of behavior. They have their own set of needs, drives, goals and experiences. Management should be aware of their requirements. Manpower management is the most critical job. Proper human resources management will enhance the efficiency and performance of people at work. HR MISSION * To create HR policies and processes which are employee friendly * To build a culture of warm forthcoming and professional with a sense of ownership and pride. * To encourage innovative thinking. * To encourage transparency and team work. * To develop leaders at all levels with general management skills. * To create a learning organization. * To develop competencies and skills through training and development. * To constantly raise levels of employee productivity. * To work towards attaining and sustaining the best employer status Other functions ofHuman Resource Department Recruitment Recruitment means generating a pool of qualified employees for job. Announcing job opportunities to public in such a way that number of suitable people will apply for them. Recruitment process is done only at the initial stage. Mainly qualified people are selected for work. Selection Selection means choosing right profile from that number, those applicants whom are most likely to succeed in the job. After getting the list of candidates an interview is conducted at the unit level. Final selection is made after testing their skill and technical abilities by putting them on the job. Training and development Training and development is also done in Geojit. After recruitment and selection the new hands are given on the job training at the unit level. All workers are kept as trainers for three months to one year. Later they are absorbed as permanent workers considering their performance. Promotion Promotion is the transfer of an employee to a new position which comments high pay, privilege status both at work and the community outside and fringe benefits perhaps the greater job security. And more senior position from which a person render better service to his company. His duties, responsibilities, status and pay also increase. Company gives keen attention with regard to promotion. Wage structure Wage structure is different for different position Allowances Second most important component of wage package is dearness allowance, which is paid to offset the rise in prices. Allowances like conveyance, house rent etc. Employees provident fund Company follows contributory provident fund. The workers contribute some percentage of their wage (basic pay + DA) and the management contributes at an equal rate. Labor welfare fund There is a labor welfare fund in which the employee contributes some rupee per head and the employer contributes at double to the same. The fund enables the subscriber to get children treatment of self and dependents etc†¦ Thus all employees are covered social security schemes of government, enabling education of children of workers etc. Gratuity Employees are eligible for the gratuity based on payment of Gratuity Act, 1972 Welfare to workers Rest room A rest mean is covered provided to employees to relax at concerned time. Facilities of relaxing The company also provides siting facilities for workers when they are getting interval or lunch. Health One of the important thing is that the employees general health both physical and mental should be cared. The factors which influence the general health of the worker can be divided into two broad groups. 1) Those which are associated with his working environment 2) Those which he shares with the rest of the community Cleanliness The company is kept clean and free from effluvia. Accumulation of dust removed by proper drainage facility made in the chemical treatment. Walls, doors and windows shall be repainted or varnished at least once in three years Disposal of waste and effluence Effective arrangement shall be made for the disposal of waste. It does not harm any local people in any way. Ventilation and temperature Effective arrangements shall be made for ventilation and temperature so as to provide comfort to the workers and prevent injury to their health. Adequate ventilation is made for fresh air. Air condition is provided for every room. Dust and fires Effective management shall be taken preview the inhalation and accumulation of dust and fires or other impurities in parities at workplace. Lighting The state government may prescribe standards of proper artificial nature lighting facilities are included. Drinking water There shall be effective arrangements for some drinking water for worker at convenient points. FINANCE AND ACCOUNTS Finance is the lifeblood of any organization. It deals with both the acquisition as well as ‘allocation of funds. Hence finance department assumes a great role in this organization. A finance department in an organization is responsible for maintaining fair and just accounting, working capital management, long term funding decision making, costing etc. The finance department provides authorization and control to all other subsystems to utilize money more effectively through a well-designed mechanism the major functions of a finance department can be grouped as follows:- )Preparation of financial statement 2) Providing sufficient funds to all departments. 3) Cash flows within the firm 4) Cash forecasting and budgeting 5) Analysis of transactions conducted by each branch office 6) Pay in and Pay out DUTIES AND RESPONSIBILITIES Chief financial officer is the head of the finance department the entire financial operationsare controlled and coordinated by C. F. O . The entire reports are submitted before him and it is his duty to take appropriate steps. He is assisted by Chief Manager Finance. The general accounts of the company are managed by the Chief Manager. Preparation of reports and statements also conies under his duty, matters concerning pay in and pay out are also determined and analyzed by Chief Finance Manager. The Chief Manager is assisted by Manager Finance. Below him there are two assistant managers, four executives and three junior executives. It is the duty of these people to record and analyze the normal accounts and transactions of a day and to report it to Chief Manager Finance. HIERARCHY OF AUTHORITY CHIEF FINANCIAL OFFICER CHIEF MARKETING OFFICER (fig-1)Department structural hierarchy JUNIOR EXECUTIVE EXECUTIVE ASSISTANT MANAGER MANAGING OFFICER The departmentis concerned with the provisions and use of accounting information to managers within organizations, to provide them with the basis to make informed business decisions that will allow them to be better  equipped in their management and control functions. The accounting department jointly performs the financial function of Geojit Functions of accounting department include preparing, checking and accounting the following vouchers and  bills. ? Cash receipt and cash payment. ?Bank receipt and bank payment. ? Purchase journal. Journal voucher. ?Preparing debit/credit notes. Updating vouchers in computer system. ?Preparation of reconciliation statement such as bank, party accounts etc. ?Maintain and safe custody of vouchers, records, ledgers and registers. ?Review of the general  ledger and sub ledger and reconciliation. ?Ensure safety custody of cash and  unused cheque. ?Maintain the fixed asset register and ensure proper filling of the bills of pur chase, installation certificate etc. for the tax purpose. ?Ensure compliance of the various commitments for the borrowings and adherence of the schedule for the repayment of the interest and the principal. OPERATIONS DEPARTMENT The past few decades have given-emphasis to operations functions mainly because it is the important subsystem of an organization and is responsible for customer satisfaction. As this department deals directly with customer satisfaction the company requires careful policies and procedures to carry out the activities under the operations department so that the services provided by them must be of a specific quality. The operations department of Geojit is again subdivided into five according to the services they deal with. They are 1) Risk management ; clearing and settlement ) Compliance 3) Commodity 4) Branch operations 5) Depository A study of each of these subdivisions is made their hierarchy, function of each official and the findings are noted in the coming pages. RISK MANAGEMENT ; CLEARING AND SETTLEMENT This is one of the subdivisions of the operations department. As stated earlier the operations departments are subdivided according to the functions they pe rform. Hence it is this subdivision of operations department which deals with the function of management of funds that arise from trading. Though buying and selling of shares take place daily in stock exchanges, settlements of transactions is executed for a specified no: of days after clubbing daily transactions for the entire period. This is known as settlements cycle. For example the beginning of a new settlement is on Wednesday of every week in N. S. E and it ends on next Tuesday. So it is the duty of this subdivision of the operations department to keep the recordsregarding transactions of each customer analyze whether he had made all the transactions in a proper way or not. It is the duty-of this department to check whether a person has paid the amount completely, if he had bought any shares and also to check whether the person is paid completely if he had sold the shares through Geojit. The chief manager (Risk and settlement) stands up in the hierarchy of the department and hence he is the head of the department. He controls and coordinates all the functions of this subdivision. Risk management of funds (of company and its branches) is one of the major functions. The chief manager is assisted by the senior manager (clearing and settlement). The senior manager (clearing and settlement) deals with the process of buying andselling of shares and thereby maintaining proper funds. There is an Asst. Manager under himwho checks the B. S. E operations. The Asst. Manager is assisted by three ‘senior executives’ further there are executives junior executives and office assistants to help the topmanagement. A diagrammatic representation of the hierarchy of this departmental subdivision is given on next page. MANAGEMENT ; CLEARNING ; SETTLEMENT CHIEF MANAGER (RISK) SENIOR MANAGER (CLEARING ; SETTLE How to cite Market Survey on Commodities Future Trading, Essay examples

Project Plan For A Company Retreat To Another Country - Get Free Sampl

Question: Describe about the Project Plan for a Company Retreat to Another Country. Answer: Introduction to Project Company Background The selected organization (company) is Aetos Engineering that deals with design and engineering in aircrafts. It is a business organization that has extensive business system in the native country and is now looking to retreat to some other country as part of the business strategy. The company has been very successful in the native country and now wants to retreat to another country in order to get access to global market. The company has chosen to retreat to Australia first and if the move is successful, they will consider retreating to other countries. However, before retreating to some other country, some project planning is necessary so that the system can be installed in time before the start of business in the new country. As per the requirement of the company, a project plan has been prepared. Description of the Project The project is based on the preparation and design of a system plan that the company needs to retreat to another country. In order to complete the retreat successfully, the company needs a proper project planning that must be followed step by step. The tasks of the project are as follows. Selection of a suitable country for retreat (in this case, the country selected is Australia) Analysis of the existing market and competitions in Australia Total budget estimation and cost benefit analysis for the purpose of retreat Stakeholder analysis for estimating the total number of people to be involved in the project Analysis of the existing law, government policies and business guidelines in the Australia Risk analysis and mitigation Project Scope Statement The 6-point checklist is as follows. Project Scope Verification Project Objective Done Deliverables Done Milestones Done Technical Requirements Done Limitations and Exclusions Done Customer Review Done Project Objective The primary objective of this project is preparation and designing of a system for the company that will help in the retreat to the chosen country. The company, Aetos Engineering deals with engineering of aircraft designs and wants to retreat to Australia in order to gain access to the global market and global popularity. The brief explanation of the objectives of this project is provided below: To choose a suitable country for relocation To analyze the existing conditions of the country political, judicial, social and commercial To analyze the risks accompanying the project To install necessary hardware systems in the retreat office To design and implement a suitable data warehouse for storage and operation of business data To connect the data warehouse with the native business headquarters To initiate the new system in the selected country Deliverables The deliverables of the project are as follows. Selection of a suitable site / country for retreat Complete analysis report on the market conditions in the selected country Complete risk analysis report New office building for the retreat New hardware systems for business operations New data warehouse for storage and management of business data Established connection between the retreat office and the main headquarters Milestones The estimated project milestones calculated from the initiation of the project are as follows. A list of countries of retreat prepared 10 days Market and other factors analyses 2 months Risk analysis 1 month Selection of the country for retreat 5 days Cost estimation 15 days Resource allocation and funding 1 month Infrastructure planning, setting up of retreat office 1 year Hardware implementation 3 months Software and data warehouse implementation 1 month Establishment of connection between the offices of the two countries 15 days System initiation 1 month Technical Requirements Following are the technical requirements for the project. The business must comply with the legal policies and guidelines of the country in which the retreat is planned. The installed hardware systems must be upgraded to latest technology in order to manage the business efficiently. The data warehouse system must be up to date and must support business operations and data management. The company must comply with business guidelines and the retreat must provide significant cost benefits in order to ensure success of the project. Limitations and Exclusions Limitations The following are the project limitations. Although an external analysis is conducted on the selected country, the exact conditions cannot be known accurately before actually initiating services in the country. This project plan only deals with the discussion of scope and estimation of resources. Actual project plan should be prepared with more information and estimations. The resource details are only rough estimations. More modifications are required with changing scopes and design of the system. No stakeholder plan is provided in this part of project plan. The data provided in this project plan will change with changes in project plan and the dynamic market of the new country. Exclusions The exclusions of the project are as follows. The share market condition and the companys entry in the share market of the selected country are excluded from this project plan. The outsourcing and employment policies for initiation of services in the new country are excluded from this project plan. Only a brief idea of estimated resources has been provided, resource management plan has been excluded from the project plan. New business policies have been excluded from the plan. The selection of hardware and software vendors and their implementation steps have also been excluded. Customer Review Customer review is an important part of any business as the production and innovation is dependent on customer satisfaction. Now, for retreating to another country, international customers come into play. Before the project, an analysis of the social background of the company is to be conducted in addition to market analysis for understanding the demands of products and customer commercial trend. After initiation of business, the company should start a customer review system in order to know what the customers like and dislike about their products or services. The company should revise its policies and business products in accordance with the customer reviews in order to enhance the existing business system of the company. This will ensure the success of the business retreat of the company to another country. Project Priority Matrix Project/Selection Criteria Cost Scope Time Weight: 8 7 6 Total Company Relocation 8 6 8 (8*8=) 64 (7*6=) 42 (6*8=) 48 (64+42+48=) 154 Analysis of the Foreign Market 5 6 4 (8*5=) 40 (7*6=) 42 (6*4=) 24 (40+42+24=) 106 Architecture Development 9 6 8 (8*9=) 72 (7*6=) 42 (6*8=) 48 (72+42+48=) 162 Resource Investment 10 7 10 (8*10=) 80 (7*7=) 49 (6*10=) 60 (80+49+60=) 189 This project priority matrix has been used to represent the primary four areas that are required for the project. These four parts are market analysis, investment, infrastructure and relocation projects. There should be at least three success criteria for the project having different weightages. The three main success criteria are cost, scope and time. The weightage for the success criteria should be as follows. Project Cost 8 Project Scope 7 Project Time 6 The effects of the chosen success criteria will depend on the priorities estimated in the project and the project has to be executed accordingly. Work Breakdown Structure Task No Task Name No of Days 1 Project: Company Retreat to Another Country 1005 days 1.1 Project Initiation Phase 100 days 1.1.1 Requirement Analysis 30 days 1.1.2 Feasibility Testing 30 days 1.1.3 Selection of Country 10 days 1.1.4 Estimation of Costs and Expenses 30 days 1.2 Project Planning Phase 150 days 1.2.1 Preparation of Project Plan 30 days 1.2.2 Scheduling of Project Duties 15 days 1.2.3 Allocation of Resources 30 days 1.2.4 Preparation of Communication Plan 15 days 1.2.5 Land Selection in the Retreat Country 60 days 1.3 Execution phase 430 days 1.3.1 Development of Abroad Branch 180 days 1.3.1.1 Architecture Planning and Design 60 days 1.3.1.2 Resource Collection 30 days 1.3.1.3 Location Blueprint Preparation 30 days 1.3.1.4 Development of Communication System 30 days 1.3.1.5 Development of a new Business System 30 days 1.3.2 Implementation Phase 250 days 1.3.2.1 Implementation of the Resources 60 days 1.3.2.2 Development of Business Plan 60 days 1.3.2.3 Implementation of Software and Data Warehouse 90 days 1.3.2.4 Market Analysis System Development 30 days 1.3.2.5 Connection of the Data Warehouse with Central Headquarters 10 days 1.4 Closing Phase 150 days 1.4.1 Creation of Communication Link between New Branch and Headquarters 10 days 1.4.2 Employee Training and Recruitment 90 days 1.4.3 Business Data Warehouse Maintenance 50 days Figure: WBS of the Project (Source: Created by Author) Figure: Gantt Chart (Source: Created by Author) Cost Estimation Cost Estimation Table Project Activity Estimated Cost Location Survey and Selection $20,000 Land Purchase $100,000 Architecture Development $100,000 Implementation of Necessary Hardware $50,000 Implementation of Software $50,000 Communication Set Up $10,000 Training of Recruits $20,000 Time Phased Budget Project Name Monthly Timeline Month 1 Month 2 Month 3 Month 4 Month 5 Notes: Location Analysis -$10,000 -$10,000 Selection of location for retreat Resource Investment $100,000 $100,000 $150,000 Investment on project fund Architecture Development -$50,000 -$150,000 -$150,000 Development of building, hardwares and softwares Business Initiation -$50,000 Initiation of Business System Testing -$5,000 -$2,500 Testing of market, hardware and software Project Start Up $200,000 Total Capital Recruitment and Training -$10,000 Training and recruitment of new employees Payment of Wages -$25,000 Wage payments Profit (Estimated) $50,000 Profit from the 1st month of the business Month 1 Month 2 Month 3 Month 4 Month 5 Totals: -$10,000 -$10,000 $50,000 -$65,000 $172,500 Total balance of each month Cumulative Total: -$10,000 -$20,000 $30,000 -$35,000 $137,500 Available balance after each month Bibliography Burke, R. (2013). Project management: planning and control techniques.New Jersey, USA. Fitzsimmons, J., Fitzsimmons, M. (2013).Service management: Operations, strategy, information technology. McGraw-Hill Higher Education. Greenberg, B. N., Jetton, S. M. (2013).U.S. Patent No. 8,352,341. Washington, DC: U.S. Patent and Trademark Office. Grefen, P., Pernici, B., Snchez, G. (Eds.). (2012).Database support for workflow management: the WIDE project(Vol. 491). Springer Science Business Media. Heagney, J. (2012).Fundamentals of project management. AMACOM Div American Mgmt Assn. Kerzner, H. R. (2013).Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Leach, L. P. (2014).Critical chain project management. Artech House. Lock, M. D. (2014).The essentials of project management. Ashgate Publishing, Ltd.. Marchewka, J. T. (2014).Information technology project management. John Wiley Sons. Schwalbe, K. (2015).Information technology project management. Cengage Learning. Turner, R. (2016).Gower handbook of project management. Routledge. Walker, A. (2015).Project management in construction. John Wiley Sons.

Air Asia Macro-Environment Essay Example

Air Asia Macro-Environment Paper This not only allows them to offer lower fares to further cost the country;?ens tourism revenue, but it also helps to increase Eurasia?Was net income after tax. 2. 2 Government emphasis on socially responsible actions Due to the emerging trend in Corporate Social Responsibility (CARS) internationally, the Malaysian government implemented The Bursa CARS framework, since 2006, that requires all listed companies to disclose their CARS activities (Bursa Malaysia Bertha, 2011). It is designed to deliver sustainable value to society at large. Despite being a listed company, corporate social responsibility is inherent in everything AAA does. The One Million Free Seats campaign that AAA hold every year since 2006 is one of their unique contributions to society, followed by offering rescue mission when Egypt struck with political turmoil, running blood donation campaigns for Tsunami victims, running a Donate Your Loose Change campaign for needy patient, and joining hands with EUNICE to raise funds for Haiti earthquake victims in 201 0 are among some of the CARS activities that have been done by AAA (Eurasia, 201 1). Not only does it help create a positive brand image, charitable work also found to be able to foster loyalty among customers as the ?goodwill would become an attribute or feature of the product or service provided?0 (Smith, 2008). 3. 0 Economical The recent economic recession affecting Malaysia was the global economy downturn in 2008/09. The contraction of real GAP growth at -1. And high unemployment rate has led to depreciation in the overall household income distribution (Department of Statistic, Malaysia, 2011 As a result, consumers tend to scale back their expenses in order to sustain their living. This has resulted in a very challenging and uncertain market to most organizations; however AAA took it as an opportunity by offering low fares with n increasing amount of high margin paid option to travelers for amenities (Malaysian Industrial Development Finance Bertha, 2011). Average fare drops are offset by higher ancillary income distribution (Eurasia, 2009). We will write a custom essay sample on Air Asia Macro-Environment specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Air Asia Macro-Environment specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Air Asia Macro-Environment specifically for you FOR ONLY $16.38 $13.9/page Hire Writer By taking advantage over the shift of consumer spending pattern from full service airlines to Low Cost Carriers (LLC), AAA saw a growth in terms of profitability and market share even in a negative economic condition. 4. 0 Social As the population becomes more educated, they tend to be more sensitive and consistent with how they respond to price (Dealer Lindbergh, 2003). Educated customers know that they do not need to pay so much for brands or services. Their increased knowledge on the value of money leads to a growing demand towards LLC. With the philosophy of ?Now Everyone Can Fly;?0, AAA has created a population of travelers by making traveling more affordable for everyone (Eurasia, 2010). The shift of culture among travelers provides opportunities to AAA which further encourages them to create even more attractive low fare packages. It can be said that AAA indirectly helps the development of the nation as traveling helps deliver the most outstanding intercultural experiences that benefit the nation;?alms development in the long run. 5. Technological practically, everyone has at least one or two mobile phones, hence making services available via mobile and smart phone crucial for a company?gs survival. For the past decade, Eurasia has always been very creative in utilizing technology for greater efficiency and cost saving. Eurasia is the first airline to launch SMS booking in 2003 and offer a total, comprehensive booking system targeting mobile phones and wireless devices in 2005 (Eurasia, 2005). Social media has a lso become an integral part of Eurasia?Ins business model Eurasia, 2010). With the ;?catered among professional and young adults gravitating towards fast and efficient do-it-yourself electronic services;?n, AAA implemented the free, simple, and quick Self-check-Len service in January 2010 via AAA web and mobile that allows customers to enjoy a quicker and more convenient check-in experience (Eurasia, 2011 To encourage guests to utilities the Self-Check-Len service, ;?CAE fee of RMI O will apply at the airport for conventional counter check in for all booking made from 21st September 201 1?D. This fee will also serve as an additional ancillary income and revises to counter the effect of jet fuel price hike (The Star Online, 20 January 2010). Not only does it help reduce AAAsees cost by leveraging technology, AAA also indirectly changes consumer behavior by educating and encouraging the use of technology for better efficiency and effectiveness among their guest. 6. 0 Natural Environment Oil is a non-renewable natural resource that will eventually run out. Due to the increasing oil demand and speculation, oil prices have been increasing drastically. It cost $140/barrel in the 2nd quarter of 2011 compared to $23/ barrel in 2004 (Eurasia, 2011 Despite the fluctuation of average fuel prices, AAA turned this risk into opportunity by pushing ancillary income and services as a natural hedge over the oil price volatility (The Star Online, 25 February 2010). Every RMI spent by a guest on ancillary item will effectively act as a buffer against CUSS per barrel increase in the price of oil (Eurasia, 2008). Not only does Air Asia manage to increase the number of passengers carried every year, they also managed to increase the amount each guest spent on items.

Catherdal essays

Catherdal essays In Raymond Carver's "Cathedral," the narrator's character develops in a way that is hard to believe. At first, the narrator has preconceptions about a man he does not even know. The narrator feels this way because of the lack of knowledge he has about blind people. He feels he can prejudge the blind man because he thinks he knows enough about his "type." The narrator will soon find out how wrong he will be! Throughout the story, the reader has a chance to see how and why the narrator develops into a wiser and more accepting person. This is the beginning of his change. The narrator tells the story from his point of view right after it is happening allowing him to tell it in great detail. In the end, the narrator will have gone through an epiphany. He will change his feelings about this stranger he thought he knew. He will realize the blind man is a person just like himself. As the story unfolds, the narrator complains to his wife about the blind man coming to stay with them: "Now this same blind man is coming to stay at my house" (par. 6). The narrator does not know anything about his wife's friend, but he insists that it is going to be an awful experience. The narrator is very shocked when he first meets the blind man. He assumes he will have a cane, he will be wearing dark glasses, and he will not smoke. He is very wrong! The narrator also does not understand why the blind man would marry someone since he would never see what his wife looked like. The blind man's wife's name was Beulah. She worked for him after the narrator's wife. When the narrator hears that her name was Beulah, he says, "Her name was Beulah. Beulah! That's a name for a colored woman. Was his wife a Negro" (par. 12-14)? He is making another assumption based on what he thinks he knows. After the narrator finds out Beulah had died, he says, "They'd married, lived and w orked together, slept together-had sex, sure- and then the blind man had ...

AIG turism Essay Example | Topics and Well Written Essays - 2000 words

AIG turism - Essay Example However, because the portions of the securities which AIG had guaranteed were judged to be almost risk free, there was not much thought that had been given to the scenario. At the end of the year 2007, through the different swaps, AIG had covered around $61 billion in securities with exposure to the different subprime mortgages. There are several prominent people that were involved in the fall of AIG, the most prominent was Martin J. Sullivan who at the time was the CEO of the company. Sullivan was blamed on taking on tens of millions of risk that was associated with the mortgages. Sullivan did not purchase any reinsurance on the risk as it was the norm Robert Willumstad, the chairperson of AIG Board of directors was also another prominent person involved in the fall of AIG. Joseph Cassano who was the AIG financial production division was accused of insuring to more than $441 billion value of securities that were in the first place rated AAA. Several companies were associated with the fall of 2008, they included the European Investment bank referred to as Goldman Sachs. Morgan Stanley and Merrill were also involved in the mess that came with the fall of AIG. AIG credit default swaps were insurance contracts that were unregulated, therefore, AIG did not put anything any capital as collateral and consequently it maintained what can be described as an AAA credit rating. Further, the company did not build any capital to back the insurance that they had sold and the profits it booked in any way never materialized. The default rates that were on mortgage securities were underwritten in the year 2006, and the year 2007. The underwritten securities increased in their worth and the by the last part of the year 2007, the securities that were in the banks which they claimed were AAA rated ended up being worth around $0.15 on the dollar. In the year 2008, there was the collapse of the credit default swap market which also meant that most investment