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Bank of America and Technology.
Based on experience, give examples of how management at your company expects technology to improve business. Discuss how your company's current technology is meeting or not meeting business needs.
The Bank of America (BOA), the nation's premier bank and one of the premier banks in the world, is highly dependent on technology for meeting its business needs. On few occassions does it find itself being disappointed. Most times, it finds technology meeting its neeeds.
On the simple level, BOA uses its computers to store customer account information on its servers as well as employing accounting software. Computers are also invaluable for number crunching accurately solving inordinately complex equations in seconds. The bank also uses computers for user authentications, aside from which computers, used as network, connect the various BOA units and their customers so that all are kept in instant and effective intercommunication and are…
AP (3/1/2005). Bank of America loses customer data. Security on MSNBC. http://www.banktech.com/news/showArticle.jhtml?articleID=171203551
Financial News. (Aug. 20, 2010) Visa Tests Cell Phone Payment Technology With Bank of America. http://www.mybanktracker.com/bank-news/2010/08/20/visa-bank-of-america-iPhone-payment/#
Martelli, D. (Jan. 14, 2011) Bank of America website not responding for users. Technorati.
Bank of America SWOT Analysis:
Bank of America is one of the principal financial institutions across the globe with a broad range of customers that include individuals, small businesses, middle-market businesses and large corporations. The company also has a diverse range of products and services including asset management, banking, investing and other financial products. Currently, Bank of America is regarded as America's largest bank holding company in assets and the second largest in market capitalization ("SWOT Analysis of Bank of America," 2010). Bank of America basically operates in the United States, Europe, Canada and Latin America with its headquarters in Charlotte, North Carolina.
In addition to having a workforce of 284,000 employees, the company serves a diverse range of customers in over 150 countries around the world and has a strong relationship with the Fortune Global 500 companies. Since it market position is supported by a well-established distribution network which…
"Bank of America Corporation Code of Ethics." (n.d.). Bank of America. Retrieved July 14, 2011, from http://phx.corporate-
"Bank of America Corporation: Company Profile." (2011, March 17). Data Monitor. Retrieved July 14, 2011, from http://ehis.ebscohost.com/eds/pdfviewer/pdfviewer?vid=3&hid=2&sid=c5fcfc40-8896-4c80-9b4f-1cff34028b14%40sessionmgr14
Moynihan, B.T. (2011, June 5). Investor Relations: Corporate Governance. Retrieved July 14,
Bank of America's Strategic Initiatives:
The traditional ways in which banks operate have been broken down by the recent political, socio-economic and technological changes that have occurred around the world. The recent changes have also influenced the economic trends, which have had a significant impact on the banking industry. Banks have largely been involved in product and geographical expansion in foreign and emerging markets because of globalization and deregulation. Notably, this process of expansion in the banking industry has been accelerated by the implementation of new technologies.
However, recent economic trends have also resulted in an essential change in the distribution and cost structure of financial services. This is because more non-banking institutions and online sources are offering banking business products because of the occurrence of disintermediation. Consequently, banks have been forced to alter their operations and change their ways of conducting business because of the resultant increased pressure on…
"Bank of America." (n.d.). Bank of America: Investor Relations. Retrieved July 27, 2011,
"Bank of America Small Business Banking." (n.d.). Economy Watch. Retrieved July 27, 2011,
Key findings from the analysis are provided here:
Income Statement Variance Analysis
Bank of America achieved a 37.4% increase in revenue between 12/31/05 and 12/31/06, driven by acquisitions and organic growth in etail Banking and Card Services. Cost of evenue increased 53% in the same fiscal period.
Net Income increased 28% from $16.4B to $21.2B also driven by the acquisitions completed during the period. As a result Earnings per Share on a Net Income Diluted basis rose 13.61% from $4.04 to $4.59.
In the period between 6/30/06 and 3/31/07, evenues increased 5.4%, or $1.6B based on revenues of $28.8B rising to $30.4B. Cost of evenues in the same fiscal period rose $1.8B from $11.6B to $13.2B.
Net Income during the period of 6/30/06 to 3/31/07 dropped $220M from $5.4B to $5.2B, a 4% reduction in Net Income during the period.
Balance Sheet Variance Analysis
The most significant variance sin the…
SEC Filings (2007) - a series of Form 10Ks and additional materials were used as the basis of this analysis. Accessed from the Internet on July 2nd, 2007 from location:
Financial Analysis Completed Using SEC Filings
Bank of America was one of the largest recipients of the troubled assets relief program (TAP) which was created in 2008. The U.S. Government made the terms of the TAP program very favorable to the bank. As a result, in December, 2009 the bank was able to repurchase all shares of TAP Preferred Stock. Paying off TAP quickly saved the bank over $25M which would have been cash outflow as dividend payments. As a result of choosing to pay this off quickly, the bank will be able to move closer to profitability.
Second, the wealth management business unit has significant potential due to the acquisition of Merrill Lynch and LaSalle, the U.S. subsidiary of ABN Amro. These two acquisitions bring a much greater depth of services and product depth to the company, in addition to much greater diversity of clients globally. It also provides the wealth management business unit with…
AlSagheer, A. (2011). Six Sigma For Sustainability In Multinational Organizations. Journal of Business Case Studies, 7(3), 7-15.
Gonzalez, M., Mueller, R., & Mack, R.. (2008). An Alternative Approach in Service Quality: An e-Banking Case Study. The Quality Management Journal, 15(1), 41-58,7.
Suzanne Kapner, & Justin Baer. (2011, May). BofA to cut $850bn bad loan book in half. FT.com
James L. McKenney, Richard O. Mason, & Duncan G. Copeland. (1997). Bank of America: The crest and trough of technological leadership. MIS Quarterly, 21(3), 321-353.
Top among them were reduction in administrative costs, better self reporting for the impact of the gifts, more financial security within the organization, and a positive return on the investment among others. These all contribute to a positive mind-set in regards to high net-worth contributors.
It has been stated the larger charitable organization such as "toys for Tots" and the MD foundation have bloated administrative costs that consume more that 50% of the donations before it ever reaches its intended recipient. Charities would do well to assure that their administrative costs are in order as well as their back office and financial management. High net-worth donors usually have a keen eye for well run organizations and as espoused by this report, is a key factor in their desire to commit resources to any institution.
Indiana University. (2006). 'Bank of America: study of high net-worth philanthropy.' The Center of Philanthropy…
Indiana University. (2006). 'Bank of America: study of high net-worth philanthropy.' The Center of Philanthropy at Indiana university. Retrieved on 8 October 2009 from http://www.philanthropy.iupui.edu/Research/BAC+Study+of+HNW+Philanthropy_102606.pdf
Bank of America:
As part of its digital efforts and strategy, Bank of America introduced its mobile banking strategy in May 2007 to enable its customers to access services through their mobile phones. Through the initiative, the bank's customers can access services via applications on their smartphones, mobile web browser, and short message service (SMS) that was launched few months later. The mobile banking strategy proved to be a huge success since the bank had four million mobile banking customers three years after the launch. The company has continued to receive requests from line-of-business managers to leverage the mobile platform through the development of mobile application functionalities for their respective businesses. However, the financial firm has been hesitant to add complex features to its mobile applications on the basis that it could negatively affect users through slowing down the application.
Strategic Issues and Problems:
Bank of America's mobile banking strategy…
Gabriel, A.R. (2011, August 5). 10 Keys to Mobile Banking Success. Retrieved January 30, 2012,
"Mobile Banking Creates Brand Loyalty for Bank of America." (n.d.). Mobile Mavens.
Retrieved January 30, 2012, from http://mobilemavens.net/?p=399
The Bank of America is one of the country's largest retail banks. It is mid-2009, the recession has been declared to be over but there is still a lot of economic uncertainty, and the Bank must set strategy going forward. Traditionally, the bank has grown through acquisitions, and there are a lot of low-priced assets in the financial industry right now. However, any acquisition must fit with the bank's overall strategy and its current financial position. The bank has just complete a major merger and that is one strategic issue, the ongoing economic troubles in particular in the housing market is another major issue, and at this point another issue is simply defining what the bank will look like going forward. Therefore, this is as much about setting strategy as it is about implementing strategy.
The BCG Matrix is a means by which the company's strategic position…
Dahl, D. (2011). How to prepare your management team for an acquisition. Inc. Magazine. Retrieved February 21, 2014 from http://www.inc.com/guides/201106/how-to-prepare-your-management-team-for-an-acquisition.html
MSN Moneycentral: Bank of America (2014). Retrieved February 21, 2014 from http://investing.money.msn.com/investments/stock-income-statement/?symbol=BAC
Son, H. (2013). BofA will dissolve Merrill Lynch unit while keeping name. Bloomberg. Retrieved February 21, 2014 from http://www.bloomberg.com/news/2013-08-16/bofa-plans-to-dissolve-merrill-lynch-to-simplify-company.html
VBN. (2013). BCG Model. Value-Based Management.net. Retrieved February 21, 2014 from http://www.valuebasedmanagement.net/methods_bcgmatrix.html
A most useful means of revealing just how affected it was, is that of analyzing the annual report. The data for 2008 indicates a strong company with an ability to develop and implement the most adequate strategies, but which also reveals increased levels of sensitivity relative to the industry. Also, 2009 came to confirm the suspicions relating to deepening financial challenges on the part of the bank and holding organization.
In response to these difficulties, the Obama administration has created the Troubled Assets elief Program, a plan which aims of create a state bank to purchase the underperforming stocks from the Bank of America and other banks. A simpler and more efficient solution however would be that of eliminating the mark-to-market accounting technique. The measure would ensure that the assets of the Bank of America and other players in the banking industry are not continually depreciated. This would in turn…
Wesbury, B.S., Stein, R., Mr. President, Suspend Mark-to-Market, Forbes, January 21, 2009
Bank of America 2008 Annual Report, Retrieved from http://phx.corporate-ir.net/phoenix.zhtml?c=71595&p=irol-reportsannual on April 27, 2009
Bank of America Corporation, Website of the New York Stock Exchange, 2009, http://www.nyse.com/about/listed/bac.html last accessed on April 27, 2009
Market Price of Common Stock, Spireframe, 2008, http://www.spireframe.com/docs/financial_statement_market_price_of_common_stock.aspx last accessed on April 27, 2009
Bank of America: Life's Better When We're Connected
Strategic Audit & Analysis
Bank of America, as of 2010 was the 5th largest company in the United States by total revenue and the second largest non-oil company in the United States following Wal-Mart. Bank of America was listed by Forbes as the third largest company in the world. In 2008, Bank of American acquired Merrill Lynch making Bank of America the world's largest wealth manager as well as being a major player in the investment banking industry. eports state that Bank of America "received U.S. $20 billion in the federal bailout from the U.S. government through the Troubled Asset elief Program (TAP) on 16 January 2009 and also got guarantee of U.S. $118 billion in potential losses at the company. This was in addition to the $25 billion given to them in the Fall of 2008 through TAP." (Business…
Bank of America Corporation (2013) The New York Times. Retrieved from: http://topics.nytimes.com/top/news/business/companies/bank_of_america_corporation/index.htmlBanks Still Behaving Badly (2013) 8 Mary 2013. The New York Times. Opinion. Mylant, J. (2013) 2013. Will Be A Foundation Laying Year For Bank Of America. Retrieved from: http://seekingalpha.com/article/1097651-2013-will-be-a-foundation-laying-year-for-bank-of-america
Bank of America is sorry it broke your heart. (2013) The Fool Investor. New Slogan for BOA. Retrieved from: http://www.fool.com/investing/general/2013/04/08/bank-of-america-is-sorry-it-broke-your-heart.aspx
Bank of America. (2013) Market Research Report. Retrieved from: http://www.marketresearch.com/GlobalData-v3648/Bank-America-Corporation-BAC-Financial-2758851/view-toc/
Bank of America Corporation: Select Major Subsidiaries. 17 Apr 2013. Retrieved from: http://media.corporate-ir.net/media_files/IROL/71/71595/BAC_Corporate_Structure_2013_0331.pdf
Bank of America
Vision and Mission Statement and Long-Term Objectives
The mission statement of Bank of America (BOA) is that the actions of individuals working in tandem build strong communities and businesses such as BOA are obligated to support the communities that it operates in and serves. The vision of the BOA Company is to become the finest financial corporation in the world. Thus, the Bank of America plans to use its proficiencies to generate economic value in the communities and regions where its customers live and work. The purpose of the company is to assist in improving the financial lives of its consumers and clients. The long-term objectives of the BOA include increasing its market share, increasing its consumer base, increasing its level of profitability, decreasing its overhead expenses, and decreasing the service fees that it incurs (Bank of America Website, 2015).
Bank of America's Background as an organization…
Bank of America. (2014). Annual Report 2014. Retrieved 1 July 2015 from: http://media.corporate-ir.net/media_files/IROL/71/71595/AR2014.pdf
Bank of America. (2015). Corporate Website. Retrieved July 1, 2015 from: http://about.bankofamerica.com/
Cetorelli, N. (2002). Life-cycle dynamics in industrial sectors: The role of banking market structure.
Citigroup Company Website. (2015). Retrieved 1 July 2015 from: www.citigroup.com/
During the depths of the financial crisis in September 2008, the Bank of America agreed to purchase troubled investment bank Merrill Lynch. The deal, valued at $50 billion, created a bank that rivaled Citigroup as one of the largest in the United States by assets (AP, 2008). The deal created a combination retail/investment bank that had multiple revenue streams and expanded Bank of America's international presence as well. The deal capped off a run of acquisitions made by Bank of America. Previously, it has acquired MNBA in 2006, that company being one of the largest issuers of credit cards in the world (AP, 2006). In January of 2008, BoA purchased struggling mortgage banker Countrywide Bank in a deal that now ranks as one of the worst ever in the banking industry, costing Bank of America nearly $31 billion on top of the $4 billion acquisition cost (Ovide, 2011).…
AP. (2008). Bank of America to purchase Merrill Lynch. MSNBC. Retrieved December 13, 2011 from http://www.msnbc.msn.com/id/26708958/ns/business-us_business/t/bank-america-purchase-merrill-lynch/#.TueorFaxsQo
AP. (2006). Bank of America buys credit card firm MNBA. MSNBC. Retrieved December 13, 2011 from http://www.msnbc.msn.com/id/8414809/ns/business-us_business/t/bank-america-buys-credit-card-firm-mbna/
Dolan, M. (2011). San Francisco police arrest 100 in Bank of America protest. Los Angeles Times. Retrieved December 13, 2011 from http://articles.latimes.com/2011/nov/17/local/la-me-sf-occupy-20111117
MSN Moneycentral. (2011). Bank of America. Retrieved December 13, 2011 from http://moneycentral.msn.com/investor/invsub/results/statemnt.aspx?symbol=BAC&stmtView=Ann
Business - Companies
Bank of America
In the last half of the 20th century, North Caroline National Bank (NCNB) began a string of acquirements that ultimately pulled together more than several thousand banks, and fashioned today's Bank of America. They have retained their headquarters in Charlotte, North Carolina, and have grown to be a global business. Through the years, generation after generation, the financial institutions that are part of their legacy have played a role in the development of this country's culture and economy. ith a pledge to awaiting the needs of their customers and a drive to spark opportunity, Bank of America continues a proud tradition of improvement, performance and service (Our Heritage, 2010).
Facts and Findings
Bank of America is committed to making opportunities possible for customers and clients by reacting to their financial needs, helping compel economic growth and supporting the neighborhoods where they do business. The…
"Bank of America." 2011. Web. 20 July 2011.
"Bank of America Annual Report." 2011. Web. 20 July 2011.
"Bank of America Corporation (BAC)." 2011. Web. 20 July 2011.
Motivational Strategies in Bank of America:
Given that several motivational strategies have a significant effect in the productivity of any workplace, Bank of America understands that the company's success is mainly dependent on employee satisfaction. The Bank and its associates hire and recruit qualified employee regardless of their gender, color, national origin, religion, age, race, citizenship and disability status among other factors. This reveals the management's philosophy and practice of promoting and supporting the idea of equal employment opportunity and positive action. As part of the management's employee motivational strategy, the Bank forbids discrimination on any grounds such as marital status, or medical condition among others. In order to guarantee success of the Bank and employee satisfaction, the Bank of America has a Global Human esource team which plays an integral role.
Global Human esource Team:
The Global Human esource team is an important department to the Bank of America…
"Code of Ethics: Bank of America." (n.d.). Bank of America. Retrieved January 27, 2011, from http://investor.bankofamerica.com/phoenix.zhtml?c=71595&p=irol-govconduct
Lindner, J.R. (1998, June). Understanding Employee Motivation. Journal of Extension, 36(3).
Retrieved from http://www.joe.org/joe/1998june/rb3.php
"Spreading the Net: Bank of America." (n.d.). HR Management. January 27, 2011, from http://www.hrmreport.com/article/Spreading-the-net/
Privacy Policies of P Morgan, Bank of America and Citigroup
The P Morgan, Bank of America and Citigroup are the top three American banks with reference to their assets and revenues. Operating in different countries, these banks are the major actors in the U.S. financial industry. The objective of this paper is to explore the privacy policies of the P Morgan, Bank of America and Citigroup. Moreover, the study explores the mission statements of the three companies, and the strategies the companies can employ in improving their privacy policies.
Bank of America
The BOA (Bank of America) is one of the leading financial institutions in the United States. Headquartered in Charlotte, the Bank of America ranks the second largest financial institution in term of the asset. In 2013, the Bank of America is the 21st largest company in term of revenue in the United States. At the end of 2015…
JP Morgan (2015). Annual Report 2015. United States.
Keys, R., Winstead, C., & Simmons, K. (2010). Cyberspace Security and Attribution. National Security Cyberspace Institute.
Smith, D.V. & Burg, J. (2012). What Are the Limits of Employee Privacy? American Bar Association. 29 (6).
Bank of America Commercial "Portrats"
Bank of America -- Ad of the Day (Thielman, 2013)
This advertisement shows a retro family as they progress through the years. It captures some of the family's memories which include some of the things that the children were involved in. Bank of America is leveraging its history as well as it services by showing the family as it progresses through time. At the end of the commercial, Bank of America admits that it is not a service that defines the family, rather one that allows the family to spend more time on the important aspects of the family's life.
hat product/brand does the marketing initiative support? How would you classify the product -- convenience, shopping, or specialty product, or is the "product" a service? hy do you say this?
Bank of America is advertising its brand and its comprehensive financial service portfolio…
Thielman, S. (2013, April 10). Ad of the Day: Bank of America The company cedes the spotlight to generations of a family's customers in Hill Holliday's retro spot. Retrieved April 10, 2013, from AdWeek: http://www.adweek.com/news/advertising-branding/ad-day-bank-america-148502
Standard Chartered Bank in America Houston, Texas
Standard Chartered Bank is a multinational bank with several branches across the world offering different financial services in different regions. The bank is headquartered in New York City with operations in New Jersey, Florida, Houston Texas and California. The bank has been in operation in the U.S. since 1902 and has been employing thousands of the Americans. Its main focus in the U.S. is whole sale banking where it offers products and services in trade finance, treasury, foreign exchange and interest rate products, cash management, commodity finance and structured import and export financial services (Standard Chartered Bank, 2008).
My position at Standard Chartered Bank as my new company will be the Marketing Manager based in Houston. The job description will be to develop and maintain marketing strategies for the branch. I will be required to conduct market research establish what the…
Jeanne S., Melinda S., Lawrence R., & Robert S., (2012). Stress at Work. Tips to Reduce and Manage Job and Work place Stress. Retrieved May 12th, 2012 from http://www.helpguide.org/mental/work_stress_management.htm
Jennn Fusion and Demand Media, 2012. Motivation & Goal Setting Theory. Retrieved May 12th, 2012 from http://smallbusiness.chron.com/motivation-goal-setting-theory-1187.html
Karen C. Kaser & Madeline Johnson, (2011). Removing Communication Barriers Through Course Instruction. Retrieved May 12th, 2012 from http://businesscommunication.org/wp-content/uploads/2011/10/2011-ABC-10-KASER.pdf
Standard Chartered Bank, (2008). Wholesale Banking. Retrieved May 12th, 2012 from http://www.standardchartered.com/us/fast-facts/en/
Improper Foreclosure and Mortgage Practices in the Banking Industry
Efficient Market Hypothesis
Real Estate Bubble
Overview on the Value of Banks
Arguments against Financial Intermediaries
This research paper aims to shed light into what led to the global financial collapse that, for the most part, began in the U.S. housing market and the ethical implications that followed. Many researchers agree that the primary drivers that led to the real estate crisis was the lifting of the Glass Steagall Act, the fostering of sub-prime lending, and the creation of derivatives and credit default swaps which were used as complex financial instruments. This offered the big five banks an entire new range of operating opportunities. All of these financial tools were justified by the efficient market hypothesis and as a consequence provide evidence for the lack of a truly efficient market. As a result of the financial…
Ball, R. "The Global Financial Crisis and the Efficient Market Hypothesis." CFA Digest (2010): 44-45. Web.
Bauman, S., M. Conover and R. Miller. "Growth vs. value and large-cap vs. small-cap stocks in international markets." Financial Analysis Journal 54.2 (1998): 75-89.
Beers, B. "End the Fed, Save the Dollar: Ron Paul." 7 September 2009. CNBC. Web. 19 March 2012.
Chen, B. And F. Kaboub. The Repeal of the Glass-Steagall Act and the Subprime Mortgage Crisis. 8 February 2012. Web. 19 March 2012.
America- Democracy or Plutocracy?
The United States of America is often hailed as the first and greatest modern democracy in the world. Most Americans believe that the United States is the example the rest of the world should emulate, and that it offers its citizens the power to make decisions through its free and fair elections. Yet at the same time, others say that the United States of America has ceased to be a democracy and instead become a plutocracy. A plutocracy is a state that is ruled by the wealthiest people, rather than by free and fair elections in which all citizens have an equal voice. Recent political developments have caused fear from those who believe the United States is moving toward plutocracy, but at the same time, other equally important developments have shown that it remains, at least for the time being, a democracy.
Although the United States…
"The Court's Blow to Democracy." Editorial. The New York Times. January 21, 2010. Web. April 26, 2011.
"Health Care Reform." The New York Times. . March 4, 2011. Web. April 27, 2011.
Rolnik, Guy. "Warren Buffet: The U.S. is moving toward plutocracy." TheMarker.com. March 4, 2011. Web. April 27, 2011.
Tremblay, Rodrigue. "The United States of Corporate America: From Democracy to Plutocracy." Global Research Canada. January 22, 2010. Web. April 26, 2011.
America has never been a nation to create solutions to problems that have yet to occur. The prevailing wisdom was that terrorism and the need for a unified intelligence gathering community geared specifically to detect and protect against terrorism was uneccessary because terrorism simply wasn't an American problem. This reasoning however has been proven to have been extremely naive. In the wake of 9/11, our nation has come to the very real understanding that bureaucratic infighting, territorial law and intelligence agencies, and a total complacence on the part of the U.S. citizenry left us wide open for attacks. All of the security measures now in place or being considered (all of which in some part are in place in virtually every other western nation) could have been in place long ago and could have prevented 9/11. But, as our government does not spend money on possibilities but rather in responses,…
"Age of Anxiety." The Nation. Dec 9, 2002. v275. i20. p3. Online Database: Infotrac. Info Acc, 5 Dec,2002.
"Homeland Insecurity." U.S. News & World Report. Dec 2, 2002. p64. Online Database: Infotrac. Info Acc, 5 Dec,2002.
Lefebure, Leo. "Muslim-Christian Dialogue" The Christian Century. 11 Sep, 2002. v119. i19. p8. Online Database: Infotrac. Info Acc, 5 Dec,2002.
"Report: Anti-Terror Powers Curtail Rights." United Press International. Nov 23, 2002. p1008327w4275. Online Database: Infotrac. Info Acc, 5 Dec,2002.
Another bank that provides similar cash management services that the Acme Company could use is represented by HSBC. Its services are differently organized than in the case of Bank of America. egarding international services, HSBC focuses on checking, borrowing, savings, insurance, cards, and other services (HSBC, 2011). Corporate banking services that are provided by HSBC focus on collections management, financing, foreign exchange, global markets, Internet banking, payments and cash management, trade services, and others.
In addition to this, HSBC provides services regarding trade and supply chain that can be used by the Acme Company in order to increase the efficiency of its supply chain management in South America and Asia. HSBC also provides several services that multinational companies can address in order to manage their business accounts. The bank also focuses on developing foreign exchange solutions.
Citibank is another bank that provides different business banking services. The company's products and…
1. Foreign Exchange (2011). Bank of America. Retrieved August 10, 2011 from http://corp.bankofamerica.com/public/public.portal?_pd_page_label=products/fx/default&icamefrom=cihome .
2. Business and Corporate (2011). HSBC. Retrieved August 10, 2011 from http://www.hsbc.com/1/2/business-and-commercial .
The only ones who will gain from these measures are the CEOs, managers, and Board of Directors. Shareholders will suffer through the actions of the few. Due diligence will be rewarded with dwindling returns for the shareholder.
Does Shareholder Value Matter Any More?
The old theory was that if banks took care of shareholder value, everything else would fall into place (Nocera 2009). Shareholders were considered one of the most important responsibilities that executives had. This was how it used to be. However, recent events make it apparent that creating shareholder value has a downside as well. As managers struggle to increase shareholder value, they ignore many business basics. They increased value has not real foundation and soon, as the company collapses under the debt loads used to create the perceived value, it is shareholders that have he most to lose (Nocera 2009).
Lately, the focus has been on getting…
DeStefano, T. 2009. Whatever Happened to Acting in the Best Interest of Shareholders? Seeking Alpha. January 27, 2009.Available at http://seekingalpha.com/article/116769-whatever-happened-to-acting-in-the-best-interest-of-shareholders [Accessed 10 March 2009].
Hutchinson, M. 2009. Bank Nationalization and the Total Destruction of Shareholder Investments [online] Mar 01, 2009 Available at http://www.marketoracle.co.uk/Article9178.html [Accessed 10 March 2009].
Kaen, F. 2003. A Blueprint for Corporate Governance. New York, New York: American Management Association.
Mayer-Sommer, a., Sweeney, S., & Walker, D. 2006. Impact of Community Bank Mergers on Acquiring Shareholder Returns.
Forming a ank Holding Company - Structure, Governance, and Regulations
Forming and Expanding a ank Holding Company
Financial Holding Company Requirements
Capital uilding Options for ank Holding Companies
Pros and Cons of Forming a ank Holding Company
Stocks and Governance
Corporate Governance and anking Law
The Role of ank and Holding Company Audit Committees
Data Gathering Method
Database of Study
Summary, Conclusions and Recommendations
Forming a ank Holding Company - Structure, Governance, and Regulations
This research paper describes the process of forming a bank holding company in the United States. The behavior of a bank holding company is strongly linked to the success of the banks it holds. Therefore, if business leaders can pinpoint how to set up a successful holding structure, they may have a better chance of successfully progressing their business.
Chapter 1 - Introduction
Statement of the Problem
Over the past few decades,…
Adams, Renee. Mehran, Hamid. (April 2003). Is Corporate Governance Different for Bank Holding Companies? Economic Policy Review, Volume 9, Number 1.
Bankers Online. (2003). Regulation Y. Retrieved from the Internet at http://www.bankersonline.com/regs/225/225-82.html .
Baxter, Thomas. (March, 2003). Governing the Financial or Bank Holding Company: How Legal Infrastructure Can Facilitate Consolidated Risk Management. Federal Reserve Bank of New York: March 2003, Volume 9, Number 3.
Clodfelter, Mark. (February 27, 2003). U.S. Department of State.
all Street Bailout -- Part II
all Street Bailout
The government-orchestrated bailout of the banks has been hailed and yet also condemned due to its perceived efficacy or lack thereof. Jeffrey Fuhrer suggested a path that was a lot cheaper and perhaps a lot less encouraging and propagating of the bad habits of banks and government entities that led to the crisis. This alternative, of course, was the individual homeowner bailout. Indeed, bailing out homeowners directly would have cost a mere fraction of what it did indeed cost to bail out Citibank, ells Fargo and the other banks. However, neither solution alone has a clear advantage over the other when looking at all relevant circumstances. hile doing a homeowner bailout would have had its merits, doing just the bank or homeowner bailouts individually probably would not have been as effective as doing them both in concert.
This report will…
While some may view the bank bailouts as encouraging bad behavior, the money had to be and was paid back. Further, letting the banks fail would have imperiled a lot more bank deposits and assets that belonged to homeowners than would have been savable for a scant fifty billion. Indeed, the same bad consumer behavior that helped feed the mortgage monster would similarly feed runs on banks based on perceptions and hysteria. While the economic conditions of 2007 and 2008 were quite bad, they never approach Great Depression levels. On the same note, while unemployment reached roughly ten percent during the Great Recession, it was 2.5 times that during the Great Depression in the 1930's and the United States economy was quite dismal until the ramp-up during World War II (Perry, and Vernengo). However, when one inserts widespread panic into the equation, the Great Recession could have been a lot, lot worse. If the banking system had not been shored up at all in favor of bailing out only the consumers, it could have been quite cataclysmic because just bailing out the homeowners when the banks are failing due to their own or created problems would have negated much of what a homeowner bailout would have accomplished (Peicuti).
With that said, the housing bubble was not just the fault of the banks and the homeowners who procured the foolish loans had their part as well. A similarity regarding all of the bailouts is that everyone in the chain misbehaved and that includes the federal government, the homeowners and the banks. Indeed, part of the problem that created the housing bubble was improper oversight by the federal government. This oftentimes manifested with near-direct or entirely direct participation and complicity of the federal government. For example, Fannie Mae and Freddie Mac were not technically part of the government prior to the Great Recession but only in the sense that the United States Postal Service is not part of the federal government either. Referred to as government-serviced enterprises (or GSE's for short), those two entities had to be bailed out to the tune $66 billion had to be paid back to the federal government as those two groups had to be bailed out as well. Just as with AIG and the broader TARP program, all of that money was paid back and with a tidy profit on top of it to boot. The government really has no excuses about Fannie Mae and Freddie Mac going forward as the two groups became part of the federal government via conservatorship in 2008 and they are now federalized agency. There is some talk of those groups being wound down and done away with but that has not happened as of yet (Phillips).
While it may be more attractive to some to help homeowners directly and leave the larger banks hanging, proof of why that is an exceedingly bad idea was easy to spot during the Great Recession when banks were folding left and
In 2003, new procedures were created and they state that "companies accredited with receiving money relating to public subscription in securities must take all necessary measures to ensure the legality of the sources of the money used in the payment of such securities, in compliance with the provisions laid down in the Prevention and Prohibition of Money Laundering and its Implementing egulations" (Terterov and euvid, 2005).
Banking institutions are also focused on reducing money laundering and the principal actions they implement in this endeavor are those of fully complying with the regulations imposed by the central banks and the legislations in their home countries. More recently, the banks can access technological innovations to fight money laundering, such as LexisNexis's Bridger Insight XGTM (Tech 4 Law). But since the access to technologies is different at each bank, a conclusion is drawn that the internal reactions to money laundering are different. The…
Minaeva, T., Aksenova, M., Anti-money laundering in Russia, White & Case, http://www.whitecase.ru/articles/moneylaundry.pdf last accessed on July 14, 2010
Terterov, M., Reuvid, J., 2005, Doing business with Estonia, GMB Publishing Ltd.
Walker, J., 1998, Modeling global money laundering flows -- some findings, http://www.johnwalkercrimetrendsanalysis.com.au/ML%20method.htm last accessed on July 13, 2010
1999, Ten years of combating money laundering, OECD Observer, http://www.oecdobserver.org/news/fullstory.php?aid=63 last accessed on July 13, 2010
America's War on Terrorism since the attacks of eptember 11th, 2001.
America's war on Terrorism since 9/11 has largely been conducted in intensifying domestic security in all areas. The highlight has been capturing Osama bin Laden, followed by a phased extraction of the American Army out of Iraq. Nonetheless, security alert is on an all-time high and Defense receives a high proportion of fiscal allocation and focus.
government has also stepped up its surveillance system constructing a highly intricate and controversial eavesdropping data-system base that is run by the National ecurity Agency and contains trillions of e-mails, web searches and commercial transactions." (McGregor 2011)). A similar system, on as massive a scale, will almost be complete in an Antonio, Texas. Both of these systems support the NA's headquarters in Fort Meade, Maryland and house everything "from records of phone calls to and from Iran to credit card purchases by potential…
Some see U.S. policy after 9/11 as being driven by an ebullient arrogant stance of force rather than talk and by a hubris that came from their knocking down Saddam Hussein. McGregor (2011), however, concludes that "ten years after 9/11, the U.S. is war-weary and introspective in a way it has not been for a generation." The federal budget has been depleted, and the country is insecure. Nonetheless, positive things have occurred as a result. The different government departments have been brought together, new ones have been constructed, and old ones reformed. And the country is watched over as it has never been before.
McGregor, R (September 6, 2011) America after 9/11: A nation fixated with its security. Analysis http://www.ft.com/cms/s/0/60886c9e-d892-11e0-8f0a-00144feabdc0.html#axzz2923vp4uc
Aggregate demand is something that is a topic of interest. The Obama Administration bailed out banks in the United States and Wolff mentions Great Britain in a sense bailed out their banks by continuously printing and borrowing money. Banks are the reason for shift in aggregate supply and thus aggregate demand. The United States government as Wolff remarks, gives limitless credit and almost zero interest on banks, supplying them with an endless source of money to do as they will. They took risks because of this endless source and it led to the aforementioned bailout.
From this risk emerged ‘credit default swamps’ that served as insurance for loans but were not regulated as insurance. The biggest one, AIG, had banks come to them to ask for reimbursement for defaulted loans. Companies like AIG could not pay and thus the banking crisis occurred. Although banks like Goldman Sachs emerged unscathed, from…
While every American wants to believe that America is the greatest country, the reality is that in order to be the greatest, a country has to work hard at it. That means having the best systems, and constantly working to improve the country in all aspects. There are some things that America does better than any other country, to be sure. But using many objective measures, it is clear that there are ways in which America stands to improve its performance. Indeed, looking at this issues is a critical component of keeping America on top. A country that buys into the rhetoric that it is the greatest will start to believe its own hype. That country will start to think that it will always be the greatest, just by showing up. But nations all over the world are working hard to make themselves better, and as a result many…
Berlow, A. & Witkin, G. (2013). Gun lobby's money and power still holds sway over Congress. Center for Public Integrity. Retrieved May 31, 2015 from http://www.publicintegrity.org/2013/05/01/12591/gun-lobbys-money-and-power-still-holds-sway-over-congress
CIEB (2015). Top performing countries. Center on International Education Benchmarking. Retrieved May 31, 2015 from http://www.ncee.org/programs-affiliates/center-on-international-education-benchmarking/top-performing-countries/
Goldman, D. & McGlynn, E. (2005). U.S. Health Care: Facts about cost, access and quality. Rand Corporation. Retrieved May 31, 2015 from https://www.rand.org/content/dam/rand/pubs/corporate_pubs/2005/RAND_CP484.1.pdf
Mehta, S. (2014). Global 500-2014. Fortune. Retrieved May 31, 2015 from http://fortune.com/global500/wal-mart-stores-1/
Bank of America: Organizing Function of Management
Bank of America is the leading commercial financial institution of the United States. Founded in 1874, the bank has a long history of offering financial services to large and small businesses and individuals in America and abroad. Bank of America couldn't possibly have been where it is today without an efficient Human resource management system and good and effective use of technology. The company places great emphasis on human resource development right from the start. For starters it has a good hiring policy that ignores differences of race, sex, color and creed. The bank has truly been an equal opportunity employer. BoA has also been focusing on appropriate job design by offering job rotation and enlargement so each individual can get the best out of the position at which he/she is serving. It has been trying to improve its job design so every…
Bank of America. Press Releases.
HRM REPORT. Accessed online 18th May 2011 http://www.hrmreport.com/article/Bringing-Discipline-to-HR/
Commonwealth Bank of Australia
etail Banking Service
Premium Business Services
Marketing Strategies at CBA
National Australia Bank
Australian and New Zealand Banking Group
Western Pacific Bank
Sustainable Competitive Advantage
One Stop Solution
Commonwealth Bank of Australia
Commonwealth Bank of Australia:
Headquartered in Sydney, Australia, Commonwealth Bank of Australia or CBA is one of the four large banks of Australia. The bank was established in 1911 as a government bank, since then, it has seen tremendous growth. Today, Commonwealth Bank of Australia is a multinational bank with operations across United States of America (USA), United Kingdom (UK), Fiji, New Zeeland and Asia. The bank got privatized in 1996, with issuances of shares worth 1.2 Billion USD in 1991, 1.7 Billion USD in 1993, and 5 Billion USD in 1996. As of January, 2008, Commonwealth Bank of Australia was the second largest Australian listed company…
Anz.com. 2014. Personal - Online Banking | ANZ. [online] Available at: http://www.anz.com/personal / [Accessed: 29 Mar 2014].
Commbank.com.au. 2014. Personal - Commonwealth Bank. [online] Available at: https://www.commbank.com.au / [Accessed: 29 Mar 2014].
Commbank.com.au. 2014. Tools - Commonwealth Bank. [online] Available at:
.." The Federal Reserve continues to keep a watch on both "current and potential exposures..." And are in the process of a review of the collateral valuation methods of the banking industry." (Kohn, 2008)
Kohn states that disruptions in liquidity in some financial markets have resulted in banking organizations facing challenges and specifically at present "significant liquidity demands can emanate from both the asset and liability of the bank's balance sheet." (Kohn, 2008) Kohn relates that when liquidity is reduced in the markets specifically for "certain structured credit products the creation of challenges and concerns relating to valuating spreads into other sectors and "illiquidity in some credit markets may make it difficult for some market participants, including banking organizations, to hedge positions effectively." (Kohn, 2008) Kohn states that the banking industry in the U.S. is up against some very serious challenges however, the Federal Reserve in cooperation with banking agencies…
Berger, Allen N.; and Bouwman, Christa H.S. (2007) Bank Liquidity Creation. 15 Jan 2007
Brown, Ellen (2008) April Fools: The Fox to Guard the Banking Henhouse 30 Mar 2008. Online 'The Web of Debt' available online at http://www.webofdebt.com/articles/banking-henhouse.php
Buiter, Willem (2008) Lessons from Northern Rock: Banking and Shadow Banking. VOX. 4 March 2008. Online available at http://www.voxeu.org/index.php?q=node/960
Estrella, Arturo (2002) Securitization and the Efficacy of Monetary Policy. Economic Policy Review. Vol. 8 No.1 Federal Reserve Board Bank of New York. Online available at http://www.newyorkfed.org/research/epr/02v08n1/0205estr/0205estr.html#chart1
advertisements, the Johnson Bank says, "We'll treat you like family." As an employee, a company that makes this type of promise would seem to be an ideal work environment. It connotes the idea of a very warm environment, where customers, employees, and business owners are all involved in a very functional work environment which is backed by good will and good intentions towards one another. Certainly, working for a company that wants employees to treat its customers like family seems better than working for a company that wants it employees to treat its customers like wheels in a cog. Treating someone like family certainly implies that they will be treated better at that bank than they would by other people. In addition, one expects that treatment to extend to employees. The idea that a bank will treat people like family suggests that if an employee has an illness or other…
Abuse in America, 2011. Available from: . [3 September 2011].
Alexander, L, & Moore M. 2007. Deontological ethics. Available from:
. [3 September 2011].
Athanassoulis, N 2010. Virtue ethics. Available from: . [3
These are the results of studies conducted by Mansfield in 1962, Utton in 1972, and Singh and Whittington in 1975. However, according to the study conducted by Hart and Prais in the year 1956, most companies demonstrated an 'inverse size-growth relationship' for certain times, and the theory of the Law of Proportionate Effect was thus rejected completely by them. Certain studies conducted by Hall in 1897, Dunne and Hughes in 1994, Hart and Oulton in 1996, and more recently, Blonigen and Tomlin in 2001 that were based on the manufacturing data of certain companies, showed that the size and the growth relationship of these companies, whether taken at the firm or at the plant level, was in fact negative. (Dynamics of growth and profitability in Banking)
In the Banking sector, the study conducted by Alhadeff and Alhadeff in 1964 show that between the years 1930 and 1960, it was discovered…
Audretsch, David B; Elston, Julie Ann. R&D Intensity and Firm Growth and Institutions in Germany. March, 2003. Retrieved at http://www.bus.ucf.edu/wp/content/archives/CES3.pdf . Accessed on 1/6/2004
Gibrat's rule of proportionate growth. Economy Professor. Retrieved at http://www.economyprofessor.com/economictheories/gibrats-rule-of-proportionate-growth.html. Accessed on 1/6/2004
Goddard, John; Molyneux, Phil; Wilson, John O.S. Dynamics of growth and profitability in Banking. Retrieved at http://www.hhs.se/NR/rdonlyres/E64A741A-F305-482C-B83A-5D9AF0B9E703/796/Molyneux.pdf . Accessed on 1/6/2004
Kusakabe, Motoo. APU Special Lecture on Development Strategy. Retrieved at http://www.ecomlink.org/APU2004/Lesson2.asp. Accessed on 1/6/2004
speech version Bank Workspace
Greetings, Thanks! I'm NAME, I used to be in banking, until the S&L crisis.
in fact my first job was as a teller; I moved up the normal channels, our branch became so successful I was promoted into regional management. We did so well our bank was taken over, and I was downsized, along with all the rest of middle management, and so I started this consulting firm.
So now I just use banks. Why? Well I have to, to some degree, but because I want to make money, and that's what banks do.
Why do you go to work every day? Well, to make money! Why does the bank open its doors every day? To make money. Anyone here want to make more money? Who wants to make more? I'm here to tell you today how you can do that, and also…
Dr. Gloria Galanes tells us how "[d]ialectical theory describes all human relationships as grounded in contradictions" (Galanes, 2009, p. 409), because have opposing drives and want to satisfy both at once. She points to simultaneous desires for autonomy and connectedness; stability and adaptation; task-oriented vs. socio-emotional orientation; and a list of examples which you could probably add to yourselves. These drives create ambiguous demands between individuals in probably every conceivable relationship, many of which have been studied explicitly. Dialectical theory is particularly useful for explaining small group relationships, which become "inherently paradoxical" because "members encounter a variety of feelings and actions they experience as contradictory but that exist simultaneously within the group (Smith & Berg, 1987b, qtd. In Galanes 2009).
I see some of you nodding: I expected that, because all individuals (to our knowledge so far) share these conflicting desires in many ways to different degrees. How can this play out in the bank? Time passes faster when there are more customers at the till but some of them are grouchy so you both want and don't it to get busy at the same time. You are a social person but sometimes others become more personal or intimate too quickly so you remain aloof, which they take as something completely different. The result is lonely people who both do and don't want someone to talk to. I know these things happen because they happen to all of us, including me.
What happens next is that we internalize these dialectical ambiguities and their tensions into 'self-talk.' It is apparently very rare to find people who don't constantly have a conversation with themselves -- not out loud, although we find those too! [laughing; 'there's one in every crowd' etc.] Most people discuss the world they observe with themselves in an ongoing conversation that is never verbalized, which Dr. Patrick Jenner argues convincingly is how we explain the reality we find outside ourselves, to ourselves (2009, 37). What happens as we encounter change in the world around us is we continually renegotiate the definitions underlying our prior assessment of relationships, individuals, situations and objects to cope with new information. When this
The authors go on to say that America has also forced their extreme versions of free capitalism and true democracy on the rest of the world, including into many places where those concepts really do not work. The American corporations that move into those areas control what food is eaten as well as grown there, and the conglomerates in the media bury most of the native culture of these other places under a strong onslaught full of American entertainment.
The authors, Sardar and Davies, address all of these issues with insight and research. The chapters in which they address culture very strongly, however, become somewhat repetitive and almost whiny on occasion. However, the authors are not saying that everyone has to agree with everything that they say. Even without agreeing with them completely, it is very easy to see that there are good reasons why many people do not like…
Sardar, Ziauddin & Davies, Merryl Wyn. (2003). Why do people hate America? Icon Books Ltd.; 2 Rev ed.
This intervention by U.S. In a foreign country, in literal words, changed the course of history for the whole world and still its outcomes are yet, to be decided.
The attack on U.S. By Al-Qaeda, on 11th September, 1998, changed the course of American paradigm of Muslims and gave a strong cause for George Bush's "ar against Terrorism." here thousands of American citizens died in Twin Towers, so did the global efforts of maintaining peace between estern and Muslim countries.
Right after, this attack, U.S. invaded Afghanistan initially through Missile attacks and then landed its troops into this land of rocks, physically. Thousands of American soldiers were deputed there and made to fight the mujahids of Al-Qaeda who were rather well-versed with the seasonal feasibility of their land.
Therefore, initially, U.S. army did faced a lot of difficulties, mainly because of weather and foreignness of the war field. However with…
Bean, Lowell John. "Mukat's People: The Cahuilla Indians of Southern California." Berkeley, California: University of California Press.1972
Bean, Lowell John. "Cahuilla," in California" pp. 575 -- 587. Handbook of North American Indians, William C. Sturtevant, general editor, vol. 8. Smithsonian Institution, Washington, D.C. 1978
Bean, Lowell John, Sylvia Brakke Vane, and Jackson Young. " the Cahuilla Landscape:
Brown, Glenn . "Chapter XX Sculpture." History of the United States Capitol. Government Printing Office. 2007
What this organization has is a culinary leadership and this is not present in many similar organizers of events. This leadership enables all the partner venues to benefit and the collective talent and creativity of the entire culinary staff is spread all over the organization, in all areas. An organization like this cannot grow in isolation and has to coordinate and facilitate the sharing of ideas, techniques and award winning recipes for the preparation of different items. This has to take place not only within the organization, but also among the total community of chefs, even if they are working in other organizations.
This requires close coordination and for final and regular preparation of the items there has to be standards, increased efficiencies and total improvement of menus and services. Only through a close attention to detail, it is possible to provide the best that is available to the clients.…
Announces Intent to Refinance Senior Debt and Names Janet L. Steinmayer President. February 28, 2005. Retrieved at http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/02-28-2005/0003107582&EDATE=Accessed 21 October, 2005
Baird, Robert. Volume Services America Holdings downgraded to 'neutral'. June 28, 2004.
Retrieved at http://www.newratings.com/analyst_news/article_438062.html . Accessed 20 October, 2005
Centerplate Announces Cash Payments on Income Deposit Securities. Canada NewsWire.
ashington Rules: America's Path To Permanent ar
ritten by a former Army Colonel, ashington rules: America's path to permanent war (Bacevich, 2010) is a striking analysis of America's pro-military psyche and determination to "to lead, save, liberate, and ultimately transform the world" (Bacevich, 2010, p. 12) through worldwide militarism. Commencing post-orld ar II, the global military presence that has become a fact of American life has been supported by Democrats and Republicans alike, though it has significantly drained our resources. hile some critics and this reader take issue with some aspects of Bacevich's book, in many respects it provides a voice of sanity in the face of the U.S.'s now-unbearable global pro-war stance.
Bacevich's book is anything but the compliment, "ashington Rules!" ashington rules: America's path to permanent war (Bacevich, 2010) relates his own educational journey from a pro-military conservative soldier to a questioner who attacks the American…
Bacevich, A.J. (2010). Washington rules: America's path to permanent war. New York, NY: Metropolitan Books.
Bass, G.J. (2010, September 3). Book review - Washington rules - America's path to permanent war. Retrieved on May 31, 2012 from www.nytimes.com Web site: http://www.nytimes.com/2010/09/05/books/review/Bass-t.html
Boston University. (2012). Andrew J. Bacevich | International Relations | Boston University. Retrieved on May 31, 2012 from www.bu.edu Web site: http://www.bu.edu/ir/faculty/alphabetical/bacevich/
Burns, K. (Director). (2007). The War [Motion Picture].
.....motif of surveillance features prominently in Captain America: Civil War. More importantly, the film features the ability of a powerful state entity to control the behavior of its citizens. The types of surveillance and brainwashing depicted in Captain America: Civil War are completely different from those used by the American government. However, the methods of surveillance used by the American government to spy on its own people may be no less sinister. The methods of surveillance used by the government cannot directly control peoples' minds and behavior of individuals, but can control other dimensions of the daily lives of citizens. Captain America: Civil War can be viewed as a metaphor and warning to Americans about the extent, purpose, and meaning of government surveillance in daily life. The film can also be instructional, showing that Americans can empower themselves against encroaching infringements on their rights.
Because Captain America: Civil War is…
America still welcomes terrorists, criminals, & other foreign menaces
The September 11 attacks have changed the ways Americans view the security and violence situation within their territory. Dramatic changes have been made in connection with security in the ports (land, sea and air); immigration laws; buying residency and citizenship, as well as visas. However, many experts assert that the security situation has worsened from where it had been before 9/11. Instead of reducing bureaucratic procedures and the loopholes associated with it and increasing the efficiency of the present workforce through accountability and checks and balances, the government has done exactly the opposite. This research paper is primarily focused on terrorism, and how we continue to allow it to happen to us. How the September 11 terrorists exploited U.S. immigration laws. How government officials sell residency & citizenship papers. How people from other countries are rushed through airport without proper screening…
Bill Sammon, Jerry Seper. U.S. To Offer Visas for Help against Terror. The Washington Times, November 30, 2001
Michael Janofsky. 9/11 Panel Calls Policies on Immigration Ineffective. New York Times. April 17, 2004
Pascal Riche. At American Borders: Smile; you're on File. Liberation. January 6, 2004.
Steven A. Camarota. How the terrorists get in. Public Interest, 2002.
Sorkin, however, posits no argument per se. ather, his book offers insight into how the financial crisis manifested from a far more personal perspective of those involved than anything else. The book is informative in nature, and give insight into some of the thought processes and activities those on the outside may not otherwise be exposed to or privy to. The title of the book sums it up best, and the book outlines how the banks and the primary players and stakeholders have become too big to fail. The book highlights the self-interest of those in charge of some of the biggest financial institutions in the world and their blatant disregard for Main Street.
The book has a place in the larger academic debates raised within public knowledge because it adds to the public's real knowledge of those involved in the nation's financial industry and government offices. Instead of speculating…
Cassidy, J. (2008). Anatomy of a meltdown, New Yorker, 84(39), 1-756.
Cherry, C. (1998). God's new Israel: Religious interpretations of American destiny.
UNC Press Books.
Cohan, W. (2010, Nov. 27). The power of failure. New York Times. Retrieves from www.thenewyorktimes.com.
lack Intellectuals, by William M. anks. Specifically, it will briefly state the main themes/ideas of the articles, and discuss the impression the book made on the reader.
William M. anks attempts to survey the culture and society of black intellectuals in his book, and looks at their history. His main thesis seems to illustrate the many obstacles blacks have had to face in order to gain education during their history in the United States. He clearly shows it has not always been easy for intellectual blacks to make their way in America, or even receive a good education. anks discusses some very prominent black American intellectuals, such as Alexander Crummell, Frederick Douglass, Anna Cooper, W.E.. Du ois, Alain Locke, and Toni Morrison. In addition, he discusses how even the more educated slaves acted as resources to the people around them, and served as an inspiration to others who…
Banks, William M. Black Intellectuals: Race and Responsibility in American Life. New York: W.W. Norton and Company, 1996.
Fiscal and Monetary Issues in America
There are high tensions in the American economy today resulting from speculations whether the government will be able to hit the debt ceiling. Failure to hit the debt ceiling has serious economic effects to many sectors of the economy both in the United States and various countries of the world. Political disagreements regarding the budget delay decision-making process as the date ceiling draws closer each day. The government debt will cause disruption and failures in the U.S. market system and beyond because some rates will double while others will completely fall. The consequences of these are both the government and private sector failures and the economy will not be in a position to sustain itself. Government securities will lose market value and the cost of bonds will double because of the risk premiums. The result of this is government deficits, which will require…
Eichner, A.S., & Kregel, J.A. (1975). An essay on post-Keynesian theory: a new paradigm in economics. Journal of Economic Literature, 13 (4), 1293-1314.
Moseley, F. (1995). Heterodox Economic Theories: True or False?. Brookfield: Edward Edger
Lee, F & Bekken, J. (2009). Radical Economics and Labor. New York: Routledge Publishing.
Rule of the Bone
About the author
The author Russell Banks writes in the manner that infused his stories with a sadistic honesty and moral goodness that his characters strive to live up to. He writes in striking and most often sad tones about the drama of daily life (Anderson, eye net).
Furthermore, his themes of failure, of weakness, of the complexity of living an honest life were often desolating, but all his stories does contain a positive wisdom to them along with a sense of optimism found in the details that he carefully draws out of his characters' routine and everyday realities (Anderson, eye net). Hence, in my opinion no modern author writes more delicately about common man's uncertain search for the American grail of material ease and self-esteem than Russell Banks.
About the book
In writing Rule of the Bone the author Russell Banks took almost a year…
Anderson, Jason. Eye. Russell Banks.
Donahue, Deirdre. Russell Banks' Bone cuts right to the flawed family. USA Today.
Mashreq Bank UAE
Introduction of the company (write about the company and its activities)
Mashreq Bank is the oldest bank in the United Arab Emirates. It has provided banking services and financial solutions to its valued customers and enterprises since its inception in 1967. The Mashreq Bank, formerly known as Bank of Oman, was established in Dubai under decree of the uler of Dubai, Shaikh ashid Bin Saeed Al Maktoum; this occurred before the UAE was formed.
The bank renamed itself as Mashreq Bank in 1993 and became one of the biggest banks in the UAE. It is a household name in the corporate banking sector and retail segment of the Middle East, having branches in Bahrain, Kuwait, Qatar, and Egypt. Mashreq Bank is the most inventive of banks in the Middle East having robust customer-centric business policies. The Mashreq Bank network is spread all over UAE with as many…
Mashreq Bank UAE. (2013). Annual Report 2013. Retrieved from: http://vpr.hkma.gov.hk/pdf/100319/ar_13/ar_13.pdf
Mashreq Bank UAE Website. (2015). Corporate Finance & Syndication. Retrieved from: http://www.mashreqbank.com/uae/en/corporate/investment-banking/corporate-finance-syndication.aspx
Microsoft Case Studies. (2006). Mashreq Bank: Bank Upgrades Core Application After Microsoft Technology Center Engagement. Retrieved from: http://www.microsoft.com/canada/casestudies/Case_Study_Detail.aspx?casestudyid=200220
World Finance. (2013). Mashreq Bank: Leading the way for economic growth in UAE. Retrieved from: http://www.worldfinance.com/banking/mashreq-bank-uae-economic-growth
Summary- Headquartered in Frankfurt, German, Deutsche Bank AG is a global financial service company that employs more than 100,000 people in over 70 countries. The bank has its primary presence in the EU, the Americas, Asia and numerous emerging markets, and is the largest foreign exchange dealing in the world, holding a market share of 21 per cent (Annual esults, 2011). DBAG was founded in Berlin in 1870 primarily as a specialized bank for foreign trade and to help develop the Northern Pacific ailroad and the Baghdad ailway. Interestingly, the bank was instrumental in the early financing of the giant steel company Krupp and the pharmaceutical giant Bayer, some of which would prove controversial during the 1930s (Gall, et.al., 1995).
Following World War II, and largely because of its involvement in Nazi financing and the unauthorized take overs of banks in Poland, Austria and Czechoslovakia, the Allies insisted…
Annual Report and Financial Data, 2010. (2011). Deutsche Bank. Retrieved from:
Crawford, D. And Nissen, M. (18 December 2009). Deutsche Bank Probe Finds
Individual Misconduct. The Wall Street Journal. Retrieved from:
Cause of Homelessness in America
has numerous social problems. Homelessness seems to be one of the most important ones. There are several causes that determine homelessness. However, the primary cause of homelessness can be considered the reduced affordable housing level and the national increase in poverty. Other causes of homelessness refer to high unemployment rates, low salary levels in certain urban and rural areas, the inability of certain individuals to pay health care bills, the inability qualify for public assistance, domestic violence, mental illness, addiction disorders, and others. It is important to understand that there are specific factors that influence homelessness in the U.S., but these factors are allowed to develop because of the state's authorities. In other words, these authorities seem to not be able to manage the social situation of individuals in a homeless situation. If their situation is analyzed, it can be established that homeless people's actions…
1. Top Causes of Homelessness in America (2012). HomeAid. Retrieved April 1, 2013 from http://www.homeaid.org/HomeAid-Stories/69/top-causes-of-homelessness .
2. Causes of Homelessness (2011). Homeless Coalition of Hillsborough County. Retrieved April 3, 2013 from http://www.homelessofhc.org/index.php/get-educated-information-homelessness/causes-of-homelessness.
3. Crane, M. et al. (2005). The Causes of Homeless in Later Life: Findings from a Three Nations Study. Journal of Gerontology. Retrieved April 3.
4. Fischer, P. (1992). Victimization and Homelessness: Cause and Effect. New England Journal of Public Policy. Retrieved April 3, 2013.
e-Broking industry and how Macquarie bank can capitalize on it. It has 3 sources.
Online banking have been a phenomenon a few years back but today, the new trend is the inclusion of e-broking a concept that is being accepted by most of the online customers as ideal and convenient. Macquarie is one such firm that endeavors to exploit the opportunities that exist in this industry and aims to recruit and secure a market share that rivals its competitors.
Opportunities and threats
Most of these broking firms specialize in financial services that are similar to the offline brokerage companies. These include product lines like "ancillary services such as equity research, real-time quotes, news and market data, analytical tools, and alert systems which send a message to the customer's PC, pager or mobile phone when a particular share price has reached a trigger level." [Evans, 2000]. Macquarie is no different from…
Evans, J. Oct, 2000, U.S. players top the online brokerage world. Private Banker International.
Goldberg, ST Oct, 2000, Online Trading's Agony & Ecstasy. Kiplinger's Personal Finance Magazine.
Case from Aidan McDermott and Macquarie Bank is gratefully acknowledged.
Far beyond the "ideal" female form in the minds of many, modelling creates a paradigm not only of impossible perfectionism in terms of face and posture, but also in terms of size. As such, modelling is not about being "sexy," but rather about the common misconception that thin is also necessarily beautiful. This tends to be a female-focused paradigm rather than a sexist one, where one might define sexism as a male-imposed paradigm upon the female body.
In this light, I do not believe that the "Tyra Banks is Fat" scandal is so much racially or even sexism-informed as it is informed by the generally human paradigm of enjoying the flaws in a person who was previously assumed to be "perfect." Models are envied, mostly by women, for their lack of body fat. This is an ideal that women tend to strive for, generally encouraged by media images of the…
Crime and Violence in Mexico
Introduction recent study by the orld Bank reveals that Mexico has become one of the most violent and crime-ridden regions in the world (Hart). After a slight decrease in the 1960's, the report shows that the murder rate has increased again in the 1990's to more than 16,000 murders per year (p. 111-113). The country's homicide rate was double that of the United States, with 18 killings for every 100,000 people.
Over the past few decades, Mexico's population has increased and urban poverty levels have risen. As a result of these two factors, Mexico has seen a significant increase in crime and violence. Residents have resorted to illegal means of making money, including drug rings and street crime, as the country struggled to incorporate a capitalist system.
A recent study from the Citizen's Institute for the Study of Insecurity reveals that 4.2 million Mexicans were…
Babb, Satrah. Managing Mexico: Economists from Nationalism to Neoliberalism. Princeton University Press, 2001.
Carl, Tracy. Rudy To The Rescue. The Associated Press. Oct. 10, 2002.
Hart, John. Empire and Revolution: The Americans in Mexico since the Civil War.
University of California Press, 2002.
Despite all the above-mentioned fact, I was still able to find a counter-argument concerning the influence of elites, and this is in relationship with the political world. Thus, it can be easily noticed that many of the American's elected representatives come from the high strata of the society; this fact has been analyzed for many times and the most commonly-assumed conclusion was that people perceive them as being better-prepared for positions of the kind this being the reason for which they elect them. In addition, many of them seems to deal quite well with the situations they have to face and they also seem quite patient in listening to people and to their problems.
In his book, "Who's running America," Thomas Dye has as well treated the issue of the executive power, mainly the presidential status; he brings into discussion the statute of the Kennedy and ush families and the…
Thomas R. Dye, "Who's running America. The Bush restoration," Oxford University Press, 7th edition, 1993
Book summaries," Politics in America," at http://www.thomasrdye.com/book_summaries.htm
Thomas R. Dye, "Who's running America. The Bush restoration," Oxford University Press, 7th edition, 1993
Book summaries, "Politics in America," at http://www.thomasrdye.com/book_summaries.htm
Nichols and McChesney (2013) write about election spending and the negative effect that it has on democracy and governance in America in their book Dollarocracy: How the money-and-election complex is destroying America.. They have divided the book into central themes, including the concept of privilege, spending by the very wealthy, advertising and the role of the media in the election machine, finally arriving at some suggestions for reform to restore balance to the democratic system of the United States.
The book opens with an explanation of one of the core principles that underpins their arguments, that America is a society driven by class differences. Those with privilege consistently seek to use that privilege to enhance it. The authors make the case that such practices at this point are so rampant that "the United States is now rapidly approaching a point where the electoral process itself ceases to function as…
Nichols, J. & McChesney, R. (2013). Dollarocracy: How the money-and-election complex is destroying America. New York: Nation Books.
Sinking Fund #7
Mortgage bonds #15
Accounts payable #5
Unfunded pension liability #6
General obligation debt #8
Revenue debt #4
Special authority debt #17
Lease-backed debt #16
Traditional capital financing #1
Public-private capital financing #12
Creative capital financing #18
Financial engineering #20
Operating Budget #3
Capital Budget #14
Question 2. There are several warning signs that a municipality is in financial trouble. One is unfunded pension obligations. If the municipality is not putting enough money into its pension fund, it may be having difficulty covering regular operating expenses. Likewise, if the municipality has a sinking fund that it is no longer contributing to, this could be a sign of distress. If the municipality's debt rating is reduced, this is another sign. It means that the municipality's balance sheet is believed to have deteriorated.
There are other signs of…
Malnutrition and Children in the U.S.
How serious is the effect of undernourishment and malnutrition on children and infants? According to The orld Bank, a child that is undernourished can expect "devastating and enduring" problems in life. Behavioral and cognitive development can be impaired, and whether or not a child is well-nourished in his or her first years can have "a profound effect on his or her health status" (orld Bank). This paper reviews the results of undernourishment and malnourishment on children, and suggests ways to reduce childhood malnutrition and the undernourishment of children in the United States.
American Kids Do Go Hungry
A report broadcast by ABC News reveals that up to 17 million children struggle daily with what is called "food insecurity"; that is, one in four children do not have access to "enough nutritious food to live a healthy life" (Brown, 2011). ABC New got its data…
Brown, K. (2011). Shocking Need: American Kids Go Hungry. ABC News. Retrieved April
4, 2014, from http://abcneews.go.com.
Feeding America. (2013). Call Congress! Take Action. Retrieved April 4, 2014, from http://feedingamerica.org .
World Bank. (2011). Nutrition. Retrieved April 4, 2014, from http://web.worldbank.org .
A Critique of Democracy: the Latin American Left
The Latin American Left was mainly inspired by the idealism of Marx. Marx (1873) believed that “the ideal is nothing else than the material world reflected by the human mind and translated into forms of thought.” For the Left, the main problem has always been rooted in class—as materialism is the basis of their worldview, class and class struggle was the biggest issue, and equality and egalitarian principles enacted and served in society were the goal. Marx wanted the workers to own the means of production and thus end the rule of the bourgeoisie over the laborers. This was his ideal—and the Latin American leaders on the Left made it their priority to nationalize private industry and for the state to take control of the means of production. Whether it was Evo Morales in Bolivia, Chavez and Maduro in Venezuela, Castro…
eporting standards for financial transactions have been varied with regard to countries and companies across the globe for many years. This fact has made it difficult for transactions to be reported with any great degree of accuracy. This was especially true in Germany where there was no true German GAAP. What the rest of the world has considered the German GAAP, the GoB, was actually comprised of here say and opinion gleaned from many different sources. With the advent of the IASB that the European Union adopted in 2007, Germany has finally decided on a single standard with which to govern financial reporting. Large companies within the country, such as Deutsche Bank, have had to make adjustments to the new standards, but this does not seem to have caused a problem. Since the country has loosely used international standards for many years, the new IASB is not new…
Bonthrone, R. (2000). German financial accounting and reporting. Translation Journal, 4(3). Retrieved from http://translationjournal.net/journal/13finan.htm
Deutsche Bank. (2011). Company. Deutsche Bank. Retrieved from http://www.db.com/en/content/company/company.htm
Feige, P. (1997). How "uniform" is financial accounting in Germany? European Accounting Review, 6(1), 109-122.
Gornik-Tomaszewski, S., & McCarthy, I.N. (2003). Cooperation between FASB and IASB to achieve convergence of accounting standards. Review of Business, 24(2), 52-61.
European and American imperialism from 1900-1918
Empire is the term from which the word imperialism is carved. Government implies the act of mastery of one nation by another one, with the sole intention of expanding region, power and impact. It conveys with it the thought of social prevalence from the radical, judging the lifestyle, cultures and convictions of those colonized as sub-par and in need of changeover (Encyclopedia, encyclopedia.com).
Nonetheless, Imperialism normally posits as a political control and making monetary subservience. In Europe, the time of dominion coincided with patriotism and unification when prior political units were assembled under governance that asserted the privilege to keep rule over them. "I rehash that the elite races [European] have a privilege in light of the fact that they have an obligation. They have the obligation to socialize the downtrodden races [non Europeans] (South Africa History, n.d.)"
Ashley Smith the journalist isolated hypotheses…
Encyclopedia. "Imperialism." Encyclopedia.com. HighBeam Research, 1 Jan. 1968. Web. 25 Jan. 2015. http://www.encyclopedia.com/topic/imperialism.aspx
Grafs History. Word War 1: Consequences of the Great War. (2014). Retrieved from: https://grafshistory.wordpress.com
Humbold. Goal. The American Quest for Empire. Retrieved from:
However, it was changes in technology that originally made the cultivation of the land possible, and marked a shift from earlier methods of production, as practiced by Native Americans. hile small Okie farmers might have hated the larger agricultural conglomerates, they too had benefited from technology in past and paid the price when technology destroyed the land. And it was, in the end, technology that also saved such subsistence farmers, in the form of new cultivation methods -- introduced by the federal government.
Cooper, Michael. Dust to Eat. Clarion, 2004.
Davidson, J.R. "Interview." itness. The Dustbowl. PBS. May 1, 2010.
"Dust bowl." The Great Depression and orld ar II. May 1, 2010.
"The Dust Bowl." U.S. History. May 1, 2010.
Egan, Timothy. The orst Hard Time. Mariner, 2006.
"Hugh Hammond Bennett." The Dustbowl. PBS. May 1, 2010.
Steinbeck, John. The Grapes of rath. Penguin,…
Cooper, Michael. Dust to Eat. Clarion, 2004.
Davidson, J.R. "Interview." Witness. The Dustbowl. PBS. May 1, 2010.
"Dust bowl." The Great Depression and World War II. May 1, 2010.
Instead of pretending that racism and its effects no longer exist, we need to strengthen affirmative action and devise a new set of policies that directly tackle the racial gap in wealth." (Derrity, 1).
That, in a nutshell, is the position of this paper. America has not given affirmative action enough time to act. Moving forward, we should continue our affirmative action policies, but with an end in mind. Economists and sociologists, along with help from America's captains of industry and human resources experts, should devise an ideal time frame whereby affirmative action will end, and set outside and inside goals for this time frame as well.
But for now, affirmative action must continue, and continue with gusto, to reverse the horrors that America's history has caused.
CHAPTER 2: REVIEW of RELATED LITERATURE
History of Affirmative Action review of the history associated with affirmative action is the first step to…
Gratz v Bollinger, No. 02-516, U.S. Supreme Court. (2003)
Grutter v. Bollinger, 539 U.S. 306. (2003)
Fordyce v Seattle, 55 F. 3d 436.
How industrialization and other social changes transformed the face of 19th century America
The late 19th century in America was characterized by seismic political shifts in the ways in which Americans conducted their economic lives. In addition to the changes the Civil ar wrought in America, there was also an increasing divide between the needs of urban and rural Americans. The U.S. was becoming more ethnically diverse due to the rise of immigration and newly freed African-Americans were attempting to find their political voice. The increasingly dominant urban culture of the North along with the interjection of new political parties and cultures was profoundly threatening for many Americans and raised charges that America was becoming more "European." This concept meant very different things to people, depending on their perspective. For rural farmers it meant the dismaying rise of big business and banks which had become the power elites…
Andrews, Thomas. Killing for Coal: America's Deadliest Labor War. Cambridge, MA: Harvard
University Press, 2010.
Clement, Elizabeth Alice. Love for Sale: Courting, Treating, and Prostitution in New York City,
1900-1945. Raleigh, NC: University of North Carolina Press, 2006.