The Difference Between Two Orphans Essay Example for Free

The Difference Between Two Orphans Essay Last week, every newspaper in Korea printed two American names with two Korean faces. But Toby Dawson and Jae Harrell made the newspapers for very different reasons. Every year, Korean orphans are being adopted by American parents. Last year alone, an estimated thousand six hundred and thirty children were taken in from South Korea to America. This is not so surprising, considering that Americans have been adopting orphans from South Korea from a long way back. This is where Toby Dawson and Jae Harrell’s stories begin. Both of them have been born in Korea, and both have left their country when they were adopted by Americans. They both felt loneliness and isolation: suddenly, they found themselves in another country with nobody they knew, with a language they do not understand, and with people who looked so different. They grew up realizing that it was them who looked different in this world of Caucasian people – they were Americans, but their faces revealed their heritage.   We can imagine how they suffered – not only with the fact that they knew they were adopted and were having issues with their identity as to who their biological parents were and where were they and why they were separated from them, but growing up in a different country and being reminded of that fact everyday as they look in the mirror, they must have felt the pang of isolation more vividly. But whatever pain they felt, the similarities they shared ended there. Toby Dawson was born Bong-seok in Pusan, South Korea. His father, Kim Jae-su, was a truck driver. On one fateful day, his mother lost him in the market. By the time his father got home from work, it was already too late to look for him. His father searched for him in the market and nearby places, in different orphanages, but to no avail. Defeated, his father gave up looking for him. But the fates must have smiled at Bong-seok, because soon an American couple, ski instructors Mike and Deborah Dawson. The couple took him to their home in Vail, Colorado. He was three. Toby did not know English, and for the first year that he stayed in the country he had nightmares, screaming in his sleep almost every night. Everything was so different – the culture was different, and he was living with adoptive parents when he knew he used to have parents back in Korea. He struggled with his sense of identity, with being different, with being adopted, with being a minority in this part of the world. He accepted his situation and decided to make the best of it. He attended summer camp for adopted children from South Korea and other Asian countries, and made friends and shared bonds with other children like him who were going through the same ordeal. He learned to ski at a young age, although probably because his parents wanted him to learn how to ski, but eventually skiing became an outlet for his aggression. Toby worked hard on his skiing – he has had his share of accidents and broken bones, but still he keeps at it to become the best in his field. He has competed in the major skiing competitions like the World Cup Circuit, and even won a bronze in the Olympics. He also has not forgotten the pain he endured in his childhood – whenever he has time, he spends it with the kids, volunteering for the summer camp that helped him so much before. It seems that everything is going his way, and the only thing left is to make peace with his past. And after his Olympic fame, Toby finally decided to meet his parents. With his new status, a lot of Koreans came forward to claim him as their own, but genetics has a way of clearing things up, and soon Toby found out who his real father was. Toby and Kim met, together with his younger brother. He did not reproach his father for abandoning him – instead, he even told him: I have been waiting a long time, Father. And Kim was moved and proud to see that despite everything, his son has grown up to be a wonderful man. Toby Dawson’s story is made known to all of America last Tuesday in Oprah. But with all the good fortune that has come his way, it must be remembered that Toby worked hard to make the best out of what life has to offer. He faced life and all its challenges bravely, and for that he is reaping the fruits of his labor. On the other hand, things did not fare as well with Jae Harrell. Adopted when he was a newborn baby by Ruth Harrell and her husband, Toby must have felt isolated just like Toby when he was growing up when he realized that he did not look like his parents, that he looked different. Unlike Toby, Jae took a different path. Whereas Toby spent his time in summer camp to cope with all the things that are happening to him, Jae turned to drugs and alcohol. Whether for fun or consolation or he just needed to forget, Jae’s reliance on alcohol and drugs did him no good, and soon he was on a list for mental health watch. He let remorse and hatred overcome him, and perhaps he felt anger towards his parents in Korea who sent him away, and maybe he felt anger too with the position he found himself in this country, and he had no productive outlet for his aggression. Charged and found guilty of retail theft in November, he was sentenced to three years in jail but was granted parole last January. But he did not stop there. His anger took over him and he ended up killing his mother, the one who adopted him and raised him up. Jae had been charged with battering his mother Ruth a year ago, but the charges were dropped after his mother declined to show up in court. This time, she was not so lucky. After an argument with Ruth, Jae struck his mother with a hammer on the head and then strangled her. He put her in her car and drove her to local school’s parking lot, and checked back if somebody found her. Seeing that the body was not discovered, he drove the car to I-290 and left it there. The car and the body were found by a worker from the Illinois Department of Transportation, and Jae Harrell has been arrested and bail set at $ 300 million. Toby Dawson and Jae Harrell were both orphans, both adopted from South Korea. They both had a difficult time adjusting to their situation here in the United States. However, they led significantly different lives. It was the decisions they made that took them where they are now. Toby’s effort, hard work and optimistic attitude made him a successful skier and gave him happiness. Jae’s negative attitude, his reliance on drugs and alcohol, and his failure to see the good things in life gave him disgrace and this tragic affair. In the end, it does not matter where we are from or what we look like because what matter is what we are inside.

The American Penal System Essay -- solitary confinement, punishment, se

Imagine living your life inside of an enclosed, seven by twelve foot, concrete cell. The only access you have to outside world is the small slot in the door used for delivering medication and food, and a tiny window, used by the guards to make sure you are alive and breathing. The fact that they even have to check if you are alive should be a red flag to society. You are here for twenty three hours a day with only one hour of â€Å"recreation† outside of this cell. This time can be used to shower, workout or make a phone call, but you are still isolated. You are here locked up for weeks, months, or maybe even years. Throughout this whole time, you are left alone with no meaningful activity; just yourself and your thoughts, which can eventually drive you mad. This is solitary confinement. According to the Washington Post's â€Å"The Torture of Solitude,† â€Å"The United States holds the highest number of prisoners in solitary confinement of any democratic nation...â⠂¬  This is what approximately 80,000 prisoners across America have to suffer through. This is what the rest of the United States population should consider immoral. Solitary confinement was first introduced as a â€Å"humane alternative to hanging almost two hundred years ago† (ABS News). Yet there is nothing humane about it. The American Penal System needs to ban long term solitary confinement because it is unnecessary, inhumane, and ineffective. Many sentences of solitary confinement are unnecessary because many prisoners do not deserve such a harsh punishment. Deciding to place a criminal in solitary should be a last resort. Prison is a good enough punishment for people who have committed petty crimes. It is unnecessary for them to be placed in solitary, if they are not a danger to th... ... so they can eventually learn from their wrongs. They are eventually going to be integrated back into society, so we should help them become better people. Works Cited ABC News. "Solitary Confinement: No Way Out of the Monster Factory." YouTube. YouTube, 20 Sept. 2012. Web. 28 Oct. 2013. Curtis, Abigail. "Is Solitary Confinement Torture?: Proposed Bill would Place Limits on use of Solitary Confinement in State Prison." McClatchy - Tribune Business News. Oct 24 2009. ProQuest. Web. 28 Oct. 2013 . National Geographic Society. â€Å"Explorer: Solitary Confinement.† National Geographic Channel. Web Video. 22 Nov. 2013. "NYCLU Report Exposes Inhumane, Arbitrary use of Solitary Confinement in NY State Prisons." Targeted News Service. Oct 02 2012. ProQuest. Web. 28 Oct. 2013. "The Torture of Solitude." Washington Post. 2 July 2012. Academic OneFile. Web. 28 Oct. 2013.

Merchant Banking in India Essay

†¢ Merchant Banking In India: The merchant banker are those financial intermediary involved with the activity of transferring capital funds to those borrowers who are interested in borrowing. The activities of the merchant banking in India is very vast in nature of which includes the following a) The management of the customers securities b) The management of the portfolio, c) The management of projects and counseling as well as appraisal d) The management of underwriting of shares and debentures e) The circumvention of the syndication of loans f) Management of the interest and dividend etc Factors responsible for the Changes: 1) . Globalization of Indian Economy It has made the whole economy open, which has more multinational player in the era of the financial services? This has resulted in to the emergence of the global investment in financial sector. Government has now open up the doors of investments especially in the area of banks and insurance, which leads to competitive environment for the present players. Now they have to bring something new which is efficient and best services to live in the competitive environment. 2). Competition arising out of Private Company Participation It is due to the liberalization of the economy. Now along with the public/government players, private players are also offering financial services and instruments, which are more innovative and different than the earlier offering. All around, there is a fresh thinking on the financial products, structure of banking and insurance instruments with value creation. Financial markets are being redefined, reinvented and reconfigured on a persistent basis. 3). Changing Customer Demographics: If we look at the all-growing economies like China, Germany and Brazil, India has 35% of the population in the age group of 15years to 34 years. It is estimated that by 130mn plus people get added to working population by 2009 with 55 million families (320 million people) will be added in the middle-income group (0.1 to 0.3 Million Rs). The demographic change leads to the change in the need of the customer. 4).Changing Customer Needs Customers have larger segment in corporate decision-making they are the final judges of the every single activity offered by the marketer. Banks in India have traditionally offered mass banking products. Financial market has turned into a buyer’s market. Market focus is shifting from mass banking products to class banking with introduction of value added products. Today, financial institutions are co-designing the products/services with their customers and striving to provide them with global solutions 5).Technology Improvements Technology is also helping market players redefine the way they have been operating in the market. In today’s time it becomes vary easy for a customer to transfer a fund from one location to another location with CLICK of Mouse. Availability of the concepts like phone banking, anytime banking etc. has become possible because of the technological developments only. 6).Government Reforms Government is major decision player in the financial market. It decides the proportion of the investment limits as well as the regulation and control. In last ten years government is designing its policy with more liberal and competitive content. Which it are welcome trends for the emerging financial services. 7).Heightened focus on customer relation Banks of the future has to be essentially a marketing organization that also sells banking products. New distribution channels are being used; more & more banks are outsourcing services like disbursement and servicing of consumer loans, Credit card business. Direct Selling Agents (DSAs) of various Banks go out and sell their products. They make house calls to get the application form filled in properly and also take your passport-sized photo. Revolution in Banking Sector: Banking in India originated in the first decade of 18th century with the General Bank coming into existence in 1786. Bank of Hindustan followed this. Both these banks are now defunct. The oldest bank in existence in India is the State Bank of India being established as the Bank of Calcutta in Calcutta in June 1806. In the early 1990s the then Narasimha Rao government embarked on the policy of liberalization and gave license to small number of private banks, which came to be known as new generation tech-savvy banks such as ICICI Bank and HDFC Bank. Currently in 2005, banking in India is considered fairly matured in terms of supply, product range and reach-even though reach in rural India still remains a challenge for the private sector and foreign banks. With the growth of Indian economy expected to be strong for quite some time especially in its service sector, the demand for banking services specially retail banking, mortgage and investment services are expected to be strong. †¢ The emerging areas in banking services are; 2 in 1 Accounts Overdrafts (OD) ATMs Net Banking Credit Card 2 in 1 Accounts 2 in 1 accounts are available at many of the foreign and private banks. It amalgamates the features of a savings or a current account and a fixed deposit account. As soon as one opens 2 in 1 accounts with the bank, deposit starts earning a rate of interest higher than that of a plain savings account. The rate of interest can be equivalent to prevailing rates for Fixed Deposit. Customers can choose the sweep option – Term Deposit or Mutual Fund, based on their requirements. Overdraft [OD] Overdraft is the agreed amount by which a bank account can be overdrawn. When the amount of money withdrawn from the bank account is greater than the amount actually available in the account the excess is known as the overdraft and the account is said to be overdrawn. If agreed by the bank in advance this is essentially a form of loan facility and there is a particular interest rate attached with the overdrawn amount. ATMs Automated Teller Machines has revolutionary’s entire banking sector. Currently there are more than 16000 ATMs in India fulfilling the daily requirement of money to a common man. The story of the humble cash-dispensing machine started around three decades back. Since then they have become common site in metros and semi metro cities. ATM allows a customer to do number of banking functions like withdrawing cash, making balance inquiries, transferring money from one account to another account, request for a Cheque book and statements, Utility Bill Payment – like electricity bills, Credit Card payments etc by using a plastic, magnetic strip card and personal identification number issued by financial institution. Net Banking Internet technology has invaded the portal of our banking institutions. No doubt innovation like ATM have considerably put customer at ease in the recent past, but with net banking the customer will be able to transact with the help of the mouse. The services offered enable one to check credit card transactions, paying bills, transferring fund between accounts in two different banks, and scheduling future payments and transfers. A gradual increase in net banking is logical as the need to minimize costs catches attention. A North American Internet Banking survey done by management consultancy Booz Allen & Hamilton in 2000 revealed that the cheapest way of banking is internet banking. Credit Cards It is estimated in the year 2004; the total credit card market in the country was at 17 million cards. The credit card industry is growing at 30 – 35 % per annum at present. The size of Indian credit card market is estimated to be around $4bn by end of 2010. Four banks have now crossed the 2 million card base, with ICICI bank leading the pack at 4 million cards followed by Citi bank at 2.8 million, HDFC bank at 2.2 million and SBI card just over 2 million. Industry average for spends on credit a card two years ago was just around Rs 16,000 per card that has now increased to around 20,000 per card. Rapid Advancement in Technology, Easier access to knowledge and globalization have changed entire banking sector. Because of these factors today customer is sophisticated and well aware about the financial needs. Leasing Services The Indian company investors must be acknowledged that lease is that agreement under which the company or Indian firm acquire the exact right and make use of certain capital asset on the consideration of payment of rental charges. The Indian corporate company must equally known that it cannot equally know that it cannot acquire any kind of ownership to such an asset apart from making use of it. The user comparatively pays all the expected operating costs and also the maintenance expenses. The main corporate companies must equally take into the consideration that developed countries like America, United Kingdom the companies of such a countries are commonly depending on the leasing factor. In India since the era of liberalization, many of the Indian companies have equally been involved in the leasing transactions. On the other side, many financial institutions and even the commercial banks in the Indian financial sector have comparatively been accepted over the same transactions. Mutual Funds Services The Indian corporate companies must equally be informed that the mutual funds comprises of the exact funds gained by pooling all the public savings. The mutual funds are comparatively invested in those portfolios, which are commonly diversified in nature with the main objectives of sharing the risk. The Indian small-scale investors cannot be able to get their funds from the comparative big corporate companies can equally gain there working funds from the mutual funds. Interpretation:- However, the modern concept of the mutual funds was developed in1968 in London by the foreign and colonial government trust of London. By which it gained its invention in India in early 1980, even if it was exactly started in 1964 by the unit trust of India. In addition to the above, the mutual funds can be grouped into [a] Close ended funds & [b] Open ended funds. The Indian corporate companies can only benefits from the mutual funds on gaining savings for investment, better yield low cost on investment, tax benefits, flexible on investment, promoting industrial development reducing the cost of new issue and many more other advantages. On the other side, Indian corporate companies must be informed on the kind of risks involved with the mutual funds like market risks, scheme risks, business risk, investment risks and even the political nature of risks. While the investors are selecting the funds must take into account the objectives of the fund, consistency of performance of the funds. Historical background of the funds, cost of operation, capacity for innovation, the investors servicing, market trends, and even the transparence of the fund management. For the Indian mutual funds to have good future there must be full support of SEBI better control of capital issue, better interest rate, good PE ratio, investors must have good choice, tax concessions, and many more. Hire Purchase Services In the hire purchase kind of transaction is that method of selling by which goods are left out on hiring by the Indian corporate company to the purchaser by which the hirer is comparatively required to the payment on an agreed sum of amount in the system of periodical installments. In the hire purchase the Indian corporate companies must know that the ownership of such kind of the property exactly remain under the control of the creditor who normally passes the right to hirer on the condition of payment of the last agreed sum of money in installment. The Indian corporate company must know that legally, payment is made in installment over the agreed specified period, possession of the same right is delivered to the purchaser during the time of agreement, the property passes to the exact purchaser on the agreed last installment, and the hirer has a right to return the property without further installment. In addition to the above, the Indian corporate company must know that the agreement must comparatively contain the nature of the goods as described in manner so that to identify them easily, the nature of the hire purchase price, the date of commencement and finally the extend or number of installments. Venture Capital Services The venture capital is that investment in the new Indian enterprises without stability in growth. It’s that environment of capital, shareholding and even the setting up of small firms, which are comparatively specializing, in same new technological ideas in the commercial sectors. The venture capital is equity participation, it’s of high risk in nature, it’s also available only for commercialization of new technologies and it’s the exact promoter of the projects, and it’s continuous in nature and input of the firm. The Indian corporate companies must equally know that venture capital involves the development of project idea, implementation, fledging or additional financing, and establishment stage. The main importance of venture capital to Indian, corporate companies are the reduction of risk, easy to analyze the business prospects and to assume the investors on affairs of the business. The Indian methods of venture financing are equity participation, income notes, the conventional loans and even the conditional loans. In order to promote the venture capital growth in India, there must be tax concessions for capital gains, high level development of capital market, giving of fiscal incentives to Indian corporate companies, high level participation of the private sectors the improving and reviewing of the existing laws and limited partnership and many more. Discounting, factoring and forfeiting services Due to the exact trade transaction the trade bill comparatively arises, the Indian corporate companies must take into consideration that the supplier of the exact goods draws bill which is based on the purchase for the invoice price of goods sold on credit method of which is drawn on the short period of time. The buyer pays the amount on the exact date by which the supplier of goods has to await until the expiry of the exact bill. However, the banks provides the cash discounting based on the exact trade bills by which they deduct certain charges as discount based on the amount of the bill and credit balance of the customers account. Factoring Factoring is to get thing being done. The ward factor means to mark or to do according to R.W. Johnson factoring is a service involving the purchase by financial organization, called a factor of receivables owned by manufacturers and distributors by the customers with the factor assuming full credit and collection responsibilities. The main conditions of factoring that the Indian corporate companies must know are these must be assignment of debt that has to be in favour of the factor. The selling limits for the client, the factor must have recourse to the client in the case of non-payment by the customer; the factor will equally have recourse in case of non-payment, details on payment for the services, interest and limit of any overdraft facility charged. The Indian corporate companies must be well informed about the types of factoring as full service, recourse factoring, maturity, bulk, invoice, agency and also international factoring. At the same time the exact cost of factoring li ke the pricing, fee, discount, accounting system must be taken into consideration. Forfeiting Forfeiting is the French term means â€Å"to give something† or â€Å"give one’s right†. Generally the term forfeit is non-recourse purchase by the commercial bank or any other financial intermediaries or institutions receivables that equally arises from the export of the goods. Securitization of Debt Services The securitization is that process by which the liquidating of the liquid and the long term assets of the Indian corporate companies like the loans and receivables by the issuing marketable securities against the same. However, the Indian corporate companies must know that securitization is that technique by which the exact long term, non-negotiable instruments are equally converted into securities of such kind of small value in nature which can be easily transacted in the commercial capital market. In India, apart from the above, there is low and unpopularity of securitization due to introduction of it as it’s a new idea or concept to India, heavy stamp duty and comparative registration fees imposed by the Indian government, complicated and also legal transfer procedure the difficulty in the assignment of debts. Also there is poor standard of loan documentation, problem of inadequate credit rating system, poor accounting procedure and lack of comprehensive guidance. Derivatives The derivatives are those instruments, which are commonly used to derive therein-exact value of underlying asset of the financial institutional corporate companies. The derivatives comparatively may involve the payment or receipt of the value or income created by the underlying assets. The main factors that are responsible for the slow growth of derivatives in India and high level of misconception of the derivatives, the derivatives lends themselves to leveraging, the nature of the off balance sheet, items, poor accounting system, speculative mechanism and finally poor infrastructure system. Credit Rating Services According to Moody’s Rating are designed exclusively for the purpose of grading bonds according to their investments qualities†. Also according to the Australian Ratings â€Å"A corporate credit rating provides lenders with a simple system of gradation by which the relative capacity of companies to make timely repayment of interest and principal on a particular type of debt can be noted†. The main credit ratings in India are credit rating information service ltd (CRISIL), investment information and credit rating agency of India (ICRA), Credit Analysis and Research (CARE), and Duff Phelps Credit Rating Pvt. Ltd (DCR India). Objectives of Merchant Banking in Prevailing Economy: * To study the significance of Merchant Banking towards the development of securities industry. * To analyze issue management regulations. * To analyze the functions of Merchant Banking in relation to rules and regulations of SEBI. * To evaluate the performance of Merchant Bankers, both activity performance and operational and financial performance. * To draw a conclusion and suggestions based on the analysis and experiences †¢ Comparison of Merchant Banking Services of INDBANK V/S CANARA BANK About IndBank:- Indian Bank, established in 1907, is a major Indian Commercial Bank headquartered in Chennai (Madras), India. It has 22,000 employees, 1,657 branches and is one of the big public sector banks of India. It has overseas branches in Colombo, Sri Lanka, Singapore, and 229 correspondent banks in 69 countries. The Government of India nationalized the bank, along with 13 other major commercial banks, on 19 July 1969. Merchant Banking at INDBANK Indbank is a Category 1 Merchant Banker registered with Securities Exchange Board of India (SEBI) undertaking assignments * Under various capacities like Lead Manager, Co-Manager, Advisor, Arranger etc. for public issues, rights issues and private placement. * For acquisition of shares & takeovers under SEBI (Substantial Acquisition of shares and Takeovers) Regulations, 1997, SEBI (Buyback of Securities) Regulations, 1998 and SEBI (De-listing of Securities) Guidelines, 2003. * For Employee Stock Option Scheme / Stock Purchase Scheme by Corporates under the SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme), Guidelines, 1999. Advisory Services

How to Play the Taxi Cab Improv Game

The Taxi Cab improv game can be played with three to six performers. Its a fun icebreaker game for parties or you can use it as a classroom activity for theater, drama, or improv classes. It is suitable for all ages and can be played by children or sharp-witted members of improv groups. No matter what the level, it is fun to watch and fun to perform. How To Play the Taxi Cab Game Select one performer as the taxi cab driver and two or more performers as passengers.Set up one chair for the taxi-cab driver and several chairs for the passenger seats.One performer plays the role of the cab driver. He/she starts the scene by pantomiming driving. Feel free to develop a funny, quirky cab driver character. After a few moments of driving, the performer spots a customer.The passenger hops into the back of the cab. Now, heres where the game begins. The second performer playing the role of the passenger should have a distinct personality. This should be assigned before the start of the game and known to the other performers.The gimmick is that the cab driver adopts the personality traits of his customer. When a new performer (a new passenger) enters the scene, the cab driver and the other passengers emulate the new personality/behavior. The passengers explain to the driver where they are going and what they plan to do.After the passengers have interacted with one another, the cab driver will start to drop off his/her customers. When a passenger is dropped off and exits the scene, everyone switches personality again, until  eventually, the cab driver character is alone again and back to the original personality.A director or teacher may want to use a timer to cue when the next passenger will enter or exit the cab to keep the game flowing. This can be varied. If the performers are on a roll, the director can let it continue longer. If they arent doing well with a  character, the director can cue the next passenger swap to keep the game lively. Passenger Personalities The personalities can be prepared in advance by the director or teacher or they can be taken as audience suggestions before the beginning of the game. A secretive British agent.A snobby opera singer.A hyper 4-year-old.A friendly, overly talkative old woman. For advanced improv groups, each performer may come up with their own passenger personality and not reveal it until they enter the cab. This presents more of a challenge for the others to emulate it. Another wrinkle is to take audience suggestions during the game. For the best flow, it can be good to assign audience members to call out a passenger personality rather than have several people competing with suggestions. Dramatic Skills Used in the Taxi Cab Improv Game This activity develops a performers emulation ability. How well can the actor mimic the style of another performer? How quickly can an actor change his or her character? What ranges of emotions can the actors express? Teachers and directors should encourage their cast to try as many new personalities and emotions as possible. Have fun with the game and dont forget to give the cabbie a decent tip.