The Things People Forget in the Heat of the Moment

The task of instructing adolescents about sex has been seen as the responsibility of the parents for many years. But, parent-child communication in sexual matters may be hindered by parental inhibitions or by various intergenerational tensions. Children often times do not receive information on sexual matters from their parents, at least initially. Due to sex related information available to children through mass media, the education board has deemed it necessary to evaluate and change sexual education. The course work has evolved drastically from the idea of teaching merely about sexual reproduction and focusing on abstinence. Rather, now it is important to deal with sex-related topics in the media through more sophisticated and comprehensive programs, deemed necessary to institute in the public school system. This of course has brought about several conflicting views about the course work within the program, raising social and ethical questions here and there. Although the idea of educating such young people about sex is viewed as strange, or as wrong, or even as immoral entirely, it is necessary for the well being of young people to be educated about these matters. Failing to teach young people about sex is like playing a ‘friendly† game of Russian Roulette; the risks are vast, danger is unknown, and death may stare one in the face. Often times failing to teach properly the risks of something causes a lack of knowledge, almost like ignorance, especially regarding the subject of sex. Disastrous consequences can come about because of insignificant information about sex and sex relations. For example, thoughts of pregnancy surface with the lack of protection, but additionally, risks include the possibility of venereal disease spread, such as Gonorrhea, Syphilis, or HIV, in the absence of contraceptives. These serious circumstances are often taken lightly when in ‘the mood† and one must be educated fairly well to understand the extreme importance of safety. This safety may include birth control or forms of contraceptives like male or female condoms, to ensure that one's health is never undermined at any cost. Lack of monogamy and smart sexual relations has made it imperative to take ‘safety precautions†, as comical as it may sound, to ensure that one†s health is not jeopardized. In similarity, Russian Roulette is a game of risks, much like sex. Although the stakes are rather different, sex of late and Russian Roulette alike are merely gambling with one†s life. It seems it might be wiser to choose the latter as a means of destruction. After all, a life stricken with some disease associated with sex can have disastrous effects on one's physical body. For instance, John, an eighteen-year-old freshman at the University of Pennsylvania illustrates this perfectly. He was diagnosed two years ago with a virus he can never be rid of. Diagnosed at the age of sixteen with herpes simplex one, he lives a stressful life, often ridiculed because of constant outbreaks of sores, not only on his genitals, but also in and around his mouth. He dreads the next outbreak everyday, and wishes with every frequent recurrence he had taken the extra ten seconds to put on a condom, for if he had done so, life would be more pleasant (â€Å"FAQ About Genital Herpes†). In addition, take for example Maria. Maria is a junior at Lake Springs High School. She too had a sexual encounter she wishes she could take back. One evening at a party, she drank a few drinks, and before she knew it, she was having intercourse with a man she hardly knew; she couldn†t even recall his name. Now, Maria endures extensive treatment weekly of AZT to hinder the debilitating effects HIV has on her body. She will grow weaker until the day she dies, all because of an unprotected sex act (â€Å"Education†). This information heightens the need for education regarding the proper care and safety precautions one must take when sexually active with another person. With the game of Russian Roulette, though, just one pull of the trigger and there are 1 in 6 chances, one swift blow. In addition, cases exist of Russian Roulette players who are uneventful in killing themselves, yet do serious damage to their brain, causing them to be quadriplegic. Teaching the dangers about sex is not an easy task. No easier is learning to accept consequences, but these must be taught during adolescence for it to be better embedded within one†s thoughts. In addition, danger regarding sex coincides with the risks one takes when the decision to consummate a relationship is made. Teaching youth about the risk of pregnancy and the likelihood of contracting one of a vast array of diseases that range from completely curable with little discomfort, to long, drawn out, and debilitating incurable diseases one must endure the entirety of their life. One could say that a person walking down the street each day puts himself or herself in danger; that there are risks everywhere, and this need not be taught at school, for it is common knowledge. This may be true, but the idea that one can protect themselves from potential danger just by being informed should be basis enough to incorporate a more advanced sexual education course curriculum in the public schooling system. For instance, instead of focusing on abstinence, which is purely opinion, focus on the fact that by the age of 15, more than 18% of U. S. teens have experienced sexual encounters and that by the age of 20, 40% of Caucasian women have conceived at least one child (â€Å"Causes, Incidence, and Risk Factors†). Focus also on the likelihood of contracting a sexually transmitted disease; focus on the facts, focus on the statistics. Take Russian Roulette for comparison to these dangers associated with sex. Potential dangers are obvious; holding a gun to one†s head and pulling the trigger, the danger seems quite substantial. This means of suicide can be compared to that of unprotected sex. One can illuminate the idea of unprotected sex as a way to commit suicide. A person not knowing the dangers of sex, and a person holding a gun up to one†s head, not thinking that there could be a bullet within the pistol display the same ignorance. The lack of information or education about these two instances could be devastating. Knowing the dangers, but still taking the risk, sex seems a lot like the game of Russian Roulette. Proposals need to be made to fulfill both parents and adolescent concerns in addition to societal needs to incorporate a more advanced form of sexual education. Perhaps issuing more of a homework-based class via an Internet website could fulfill these concerns. The idea in mind would be to lessen a student†s awkwardness of a classroom setting, yet still understanding the necessary material presented. This being beneficial because students are still learning about the subject matter and it would increase a parent†s morale about this course matter, for their children are learning about sex within their home rather than in a classroom, where sexual tensions may be embarrassing. Another proposal is to include the curriculum within already established courses. Academics such as English and History can hold intimate classroom conversation about this subject matter relevant to course curriculum. This means of incorporating the sexual education material within required classes would guarantee that sexual education be at least introduced to these younger individuals. It is not necessarily automatic that one will contract a venereal or sexually transmitted disease, neither is it definite that when the trigger is pulled, the bullet will come raging through for a short journey through the skull. The risks are there though; the danger is there. Without an education to outline these risks and dangers, the results a lack of education would be devastating to society.

Absolute Power Corrupts Absolutely animal farm

When the animals take over the farm the pigs become the animals’ leaders, as they are the smartest of the animals. Major starts out telling the animals about his dream and convincing them that’s how the farm should be like. The pigs encourage that all animals are equal and have 7 commandments to keep the farm in order. After the animals start to agree with Napoleon more and more, Boxer says â€Å"If Comrade Napoleon says it, it must be right† (Orwell 56) that is how Napoleon gained his motto as â€Å"Napoleon is always right†.The animals became intimidated by the pigs and were too afraid to ever question their decisions. None of the other animals were smart enough to think differently. When Napoleon realizes how much power he has, he starts to take advantage of it. Napoleon starts to tweak the commandments to his advantage. Napoleon creates a rule saying, â€Å"The milk and windfall apples should be reserved for the pigs alone† (Orwell 36). Napoleon has only made this rule to benefit himself and his kind. When Squealer says, â€Å"Surely there is no one among you who wants to see Jones come back?† he is trying to scare the other animals into thinking Napoleons doing the right thing. The pigs should not be treated any better than the other animals. This is what started Napoleons corrupt set of values. Napoleon continues to make corrupt changes to the commandments and rules as he gains more and more authority. When â€Å"Napoleon accepted, through Whymper, a contract for 400 eggs a week† (Orwell 76) it was really unfair to the hens and he should have no control over that. Napoleon did not give any sympathy to the hens even after they revolted.Napoleon started to traumatize the hens for declining to give their eggs. Napoleon brought the situation way out of proportion and brutally starved some of the hens to death to get the eggs on time. Napoleon has no right to put the hens through hell just to because he says so. Napoleon started off as a true leader keeping the farm under control but once his control got so immense he turned corrupt. Napoleon made and changed rules to benefit himself. Napoleon became very selfish and unfair to all the other animals.No other animal ever had the guts or smarts to question Napoleons power and decisions; which worsened the situation and made Napoleon become more corrupt. Napoleon had a stern set of rules but if he happened to break a rule his fellow pigs would use a euphemism by adding a few words to the rule to soften the true meaning. If everyone could quickly turn to page 109, last paragraph. The other animals were not very smart so they were fooled into thinking they had just remembered the commandments wrong in the first place.Napoleon had such corrupt morals that he thought any rule he broke he could simply alter it so he was no longer breaking the rules. Napoleon ends up changing the entire commandments after he had gained all the power and money he wan ted. In the end, the most corrupt thing Napoleon did is when he changed all the commandments to â€Å"All animals are equal but some animals are more equal than others† (134). This brought the farm back to exactly how it had started. This very corrupt decision made the animals think they could not question his unfair decisions simply because some animals are more equal than others.This took away all the freedom and equality that had kept the farm together. â€Å"Absolute power corrupts absolutely† this is exactly what happened to animal farm. Napoleon had started out so against humans and made rules against having any similarities with them. After Napoleon had become more and more corrupt he turned into exactly what he was against†¦ humans. Napoleon let his corrupt decisions get the best of him and alter his mind thinking he was above the rest. The animals were left with no power or leadership and all they had was a selfish, lying, corrupt dictator who acted just as a human.

Nations and Nationalities in Europe

Rule by the people and for the people. This is a common phrase used by many today to describe the  variety of democratic political institutions found all over the globe today. While nearly all  democracies outside of Europe model the beginnings of their form of government to the United  States and more specifically   to the U.S. Constitution, for democracies within Europe, the beginnings  are traced even farther back in time   to embrace two different traditions. One of these traditions  being the English Constitution primarily involving the Magna Carta, and the other tradition  revolving around the French Revolution. In comparing these two as to which has ultimately proved stronger as the base for popular rule and  why, one can discern that the French revolutionary tradition has accomplished this for two reasons.  The first reason being due to the fact of it being more recent in historical context. Such an important  event having occurred less than 300 years ago has more relevance in the minds of many political  thinkers in our modern era than a similar event which occurred nearly 800 years ago. Mankind tends  to believe that his ideas improve over time and thus the later the idea, the better the idea it is. The second reason for the French tradition being the base for most forms of popular rule today is due  to it truly identifying and involving the three classes of the populace the aristocracy, middle-class,  and poor, back then as it does today, in the political and economic process of society. While both  traditions sought to limit the power of the monarch from being absolute over its subjects, it was the  French revolution which gave a strong voice to those neither rich nor poor. The English tradition on  the other hand, primarily involved the nobility and the monarch, much like a dispute being settled  today between the millionaires on one side and the billionaires on the other. Today, like in the late  18th century during the time of the French revolution, in most advanced and developing democratic  societies, the vast majority of the citizenry fall in the middle. Thus, it is their political interests and   perspectives which influence political discussion and change, just as it did  nearly 300 years ago.

Investing in Low Income Housing Tax Credits Essay

Overview of the LIHTC The Low Income Housing Tax Credit (LIHTC) provides incentives for corporations and individuals to invest in the acquisition, development and rehabilitation of affordable housing. The program offers federal tax credits to private equity investors that work with profit or non-profit developers in constructing or renovating rental properties for low-income tenants, those who earn 60 percent or less of the median family income for their county. As of 2010, the program has sparked the construction of over 1.7 million housing units throughout the country. The IRS allocates federal tax credits to Housing Credit Agencies (HCAs) in each state based on its population. HCAs award credits to housing developers based on their Qualified Allocation Plan (QAP), a rigorous and competitive application used to determine which developers will receive the credits. Once credits are acquired, equity investors purchase an interest in the business entity generating the tax credits, namely a limited partnersh ip or limited liability company. The equity generated from the investor’s purchase is used to fund the property development. The tax credits are redeemed annually by investors over a ten-year period following the date that the property becomes operational, or â€Å"placed in service.† The number of tax credits, and subsequently the amount of equity raised, is calculated by computing the eligible basis, or the dollar amount of all depreciable costs of the project (which excludes the cost of land acquisition and operating reserves) minus ineligible sources of funding like grants or federal subsidies. The eligible basis is then multiplied by the percentage of eligible tax credit units in the project (at least 20 percent and up to 100 percent of all units in the building) to calculate the â€Å"qualified basis.† The investor may later claim either 9 percent or 4 percent of the qualified basis amount in tax credits per year, depending on whether the project is a new construction or rehabilitation of an existing structure.. As of March 2012, the average price for a credit is around $.94. Price fluctuates depending on the geography of the deal, the size of the project, the perceived risk of failure, and whether the project is a new construction or rehabilitation. In order to redeem the credits, the property must rent either 20 percent or more of the units to tenants whose incomes are at or below 50 percent or less of the area median gross income, or 40 percent or more of the units to tenants whose incomes are at or below 60 percent or less of the area median gross income. The property must fulfill these and other operational requirements for a 15-year compliance period. Failure to meet these requirements during the compliance period results in an IRS recapture of tax credits plus interest and penalties. Many states offer their own affordable housing tax credits to provide further incentives by increasing potential returns. Projects in certain areas (Difficult Development Areas) receive a 30 percent increase in qualified basis as well. Options for Investment in LIHTC LIHTC transactions are structured such that the developer manages the day-to-day operation of the property while the investor takes a passive role in management and collects virtually all the tax credits. The parties create a limited partnership or limited liability company where the investor is typically a 99.99% limited partner or non-managing member and the developer is a 0.01% general partner or managing member. This method shields investors from liability beyond their capital contributions and allows the developer to maintain control over management affairs. There are two methods of investing in LIHTCs. The first is a direct investment or private placement, where the investor purchases the rights to future tax credits from a single developer in return for an equity contribution. The developer and investor form a limited partnership where the investor retains a 99.99% ownership interest and claims use of 99.99% of the tax credits and other benefits. Large banks and blue-chip corporations are the typical direct investors, mainly because they possess vast amounts of financial and administrative resources. Private placements are adequate namely for single entities that manage their own investment affairs and desire complete transparency throughout the project. These investors generate more net equity since they save costs otherwise incurred by hiring syndicated funds to choose and underwrite the affordable housing development project. Another avenue through which to invest in tax credits is with a syndicator, a financial intermediary that raises funding from many investors, usually on an annual basis, and makes equity capital contributions to multiple affordable housing projects. Indirect Investment through syndicated funds provides a means by which individual investors, small community banks, and small corporations without the resources of large banks can invest in LIHTCs. A syndicator will attract investors and form a limited partnership agreement where the syndicator typically holds a .01% interest as general partner and various investors will comprise the other 99.99% ownership interest as limited partners. This limited partnership syndicate fund will then become the 99.99% limited partner in several LIHTC projects to allow tax credits to pass through to investors. The syndicator investigates the market for affordable housing development and chooses a number of projects in which to invest. The syndicator then directs private equity capital from the limited partners of the syndicate fund to multiple affordable housing developments and returns tax credits back to each investor in proportion to their capital contribution. A few syndicate funds have missions that are aligned with non-profit developers. A syndicator’s experience with affordable housing development is invaluable to investors as it minimizes risk and increases investor confidence. The syndicator does all due diligence and underwriting for the project, so investors can take a passive role. Syndicate funds are ideal for investors that cannot afford to hire relationship managers, compliance specialists, and underwriters to oversee development. A Worthwhile Investment Alternative A tax credit provides a dollar-for-dollar reduction in tax liability, unlike deductions that simply reduce the amount of taxable income for a particular taxable year. Even though investors contribute capital based on the amount paid per tax credit, other tax benefits are transferred to the investor in the form of passive losses and deductions available to any holder of rental real estate property. These include property depreciation deductions, interest expenses, business and maintenance costs, and others. Savings from tax-deductible expenses may not have the financial impact of a tax credit, but it provides a quantifiable saving to the investor that helps add measurable value to tax credits beyond the amount of proportional tax liability they reduce. A qualifying tax credit investment results in a decrease of tax liability. The economic return on the investment, therefore, is not subject to state or federal taxation, unlike dividends or interest income from stocks or bonds. A dollar amount of taxable income is thus inherently less valuable than an identical amount of tax credits. Certain passive loss restrictions and the Alternative Minimum Tax render tax credits less useful for the large majority of individual investors. Nonetheless, LIHTC projects were giving investors returns as high as 25%-30% during the early stages of the program. After growing competition increased pricing in the market for tax credits, yields have consistently shown 4%+ annual returns in recent years. LIHTC projects provide excellent returns for the risk involved, considering other investment alternatives available. While the stock market has historically given investors long-term returns of approximately 10% per year on average, there are sharp fluctuations from year to year. The stock market is also considered a more risky investment in comparison to U.S. treasury bonds or other corporate notes. The yields on these safer bonds are much less than that of the stock market. Investments in tax credits provide an interesting combination of risk mitigation potential and impressive earning yields. Unfortunately, the average investor has no control over the valuation of a certain corporate security, much less the performance of a mutual or index fund. However, private placement investors and syndicate fund managers can and do provide for stringent oversight requirements through contractual obligations imposed on the developer, which in turn helps mitigate risk of project failure. A rise in the valuation of a corporate security usually requires an indicator of increased earnings in the future, whether it is the introduction of a more efficient manufacturing technique, the release or upgrade of a new or existing product, or a similar corporate action. Any increase in the value of a security may be short-lived. An investor only realizes gain after a sale; that gain is taxed. LIHTC projects, on the other hand, do not require entire securities markets to move in order to obtain a profit. Aside from rigorous paperwork and professional fees, the tax credits will eventually fall in the hands of the investors so long as the developer does not fail to meet the various compliance requirements for the specified period. With continuous oversight, investors and fund managers can establish timelines for performance that may readily identify any setbacks or obstacles to completion. This may afford time to expedite construction or development and perhaps cure any potential defects in the plan. On the downside, securities markets provide instant liquidity; LIHTC projects require at least 11 years to harvest all profits. Timelines provide further protection when equity contributions are made in response to the developer meeting certain milestones that render project completion more likely. By disbursing equity in stages, investors exert more control over the project’s development and may elect to alter the course of the project. For instance, the investor may attempt to remove the developer if confidence is undermined. The 15-year compliance period provides an identifiable date of exit, after which all profits (in the form of tax credit use) have been harvested. If investors decide to exit the venture, a secondary market has emerged where an investor may be able to sell the credits to third parties. Legislation passed in 2008 allows limited partners to sell their ownership interests in affordable housing properties without facing recapture so long as the properties continue to operate as affordable housing. This allows a shortened holding period of up to 11 years as long as the property meets the 15-year compliance requirements. These advantages are largely unavailable to stock market investors and make tax credits a safe, viable and profitable investment alternative. These benefits apply uniformly to any tax credit investor. Large Banks, Larger Benefits Large banks and financial institutions are provided with a number of benefits that are generally inapplicable to individual and corporate investors, which in turn make credits more valuable and increases their market price. Banks subject to the Community Reinvestment Act (CRA) are required to engage in certain activities that improve community development. Direct investments and loans made to LIHTC projects, or syndicated funds that invest therein, are considered qualified activities under the CRA. Banks receive positive CRA consideration not only for these loans and investments to community projects, but also when equity is transferred to LIHTC projects that serve broader statewide or regional areas that include a particular bank’s assessment area. An unsatisfactory CRA rating can cause banks to be denied or delayed in undertaking certain business activities like mergers, acquisitions, or the expansion of services. Thus, banks have strong incentives to invest in affordable housing development. LIHTCs are often a top choice for banks, who are obliged to make community development contributions, because not all CRA qualified activities provide similar returns. Financial institutions also benefit from establishing banking relationships with real estate developers. This allows banks to expand their revenues by providing new services to the project like pre-development loans, construction loans, mortgage financing, and credit lines. Bridge loans are especially enticing, where banks loan large amounts of capital to syndicated funds or other Private Placement investors without the cash reserves to make the up-front equity contributions required by developers before any tax credits can be redeemed. Moreover, banks have the financial capacity to create long-lasting resources to assist in affordable housing investment. The underwriting and due diligence for a LIHTC project requires a number of services and incurs various costs. While syndicated funds spread these costs over a number of investors, banks are in a position to pay for these costs themselves. By establishing separate departments to oversee tax credit financing, banks make a one-time investment in an oversight apparatus that will operate over an indefinite number of LIHTC projects. These in-house professionals will increase in value as their experience expands and efficiency improves. Any bank with the capacity to conduct private placement investing in LIHTCs probably does so. Syndicated Funds: Investment Mechanisms for the Unsophisticated Tax Credit Investor A multi-investor syndicated fund provides a number of additional benefits to potential tax credit investors. It is helpful to analogize syndicated funds to mutual funds for the purpose of identifying their advantages. Just like mutual funds, where fund managers collect funding from many investors and create a diversified portfolio that is professionally managed, syndicated funds act in a similar fashion. Syndicated funds invest in multiple affordable housing developments, often in various geographic regions and with different housing developers. This allows investors to spread risk amongst different LIHTC projects so that if one project fails, their entire equity commitment is not lost. Investing with multiple investors allocates risk of loss more evenly and makes LIHTC investments a safe investment alternative. Furthermore, reputable syndicated funds are professionally managed by experienced, sophisticated tax credit professionals that probably have more knowledge about tax credit investing than any prospective investor. Few institutions and entities have enough capital reserves to fund an entire project single-handedly; syndicated funds combine investor contributions, allowing small entities like community banks and mid-size companies to have the flexibility of choosing how much capital to contribute to tax credit investment. The end result is an excellent mechanism through which unconventional tax credit investors can participate in the competitive market for tax credits. Even though funds collect a percentage fee, diversified portfolios will likely contain projects in DDAs to provide marginal increases in tax benefits. Corporations and Tax Credits: A Good[will] Investment. LIHTC are beneficial to corporations because annual tax credits have a positive impact on earnings per share, since credits reduce tax liability without diluting earnings. Tax credits are usually a profitable investment because most companies sustain consistent tax liability for years on end. Tax credit investment declined during the 2008 market downturn, but has steadily increased with general economic improvement. Companies like Google, Verizon, Liberty Mutual, and others have invested in affordable housing developments across the country. An additional and measurable economic benefit to corporations is the increased value of a trademark or goodwill associated with a company that invests in community development. This type of investment may also attract positive publicity and media coverage, which in turn may increase corporate securities valuation. Large corporations are also in a coveted position to undertake direct investment and avoid paying fees to syndicated funds. Safe, but Not That Safe. While LIHTC investments may be safer than comparable investment with similar yields, the risks must be identified for informed decision-making. Potential tax credit recapture and loss is the greatest risk—the project must maintain specific requirements over a period of 15 years and strict deadlines must be met. The investor must assume the risk of any impediment to completion of construction, no matter how farfetched, and recapture liability remains with the initial investor even if the credits are sold on the secondary market. Risk of failure extends for a prolonged period of 15 years where strict operational requirements must be met. Due to the speculation involved in predicting construction costs, securing subsequent financing, and meeting compliance deadlines in light of potentially unforeseen adverse events, a project must be very precisely calculated to increase the chance of success. Entities and individuals that invest in syndicated funds are in a better position to identify risks due to stringent government-imposed requirements for prospectuses and offering memoranda to be distributed to all potential investors. Inexperienced syndicators might overlook a key responsibility that can cause the project to fail. Repurchase obligations arguably provide a false sense of security to investors because most developers have small balance sheets and cannot afford to match the investor’s contributions. The risks involved in LIHTC investment can be mitigated with proper planning, continuous oversight, and an experienced syndicator. Banks with in-house asset management units can oversee property maintenance. Although investors cede lien priority to the primary mortgage holder, foreclosure rates are relatively low and occupancy rates relatively high. Tax credit projects are viable investment alternatives. ——————————————– [ 1 ]. Catherine Such, Low Income Housing Tax Credits. Federal Reserve Bank of San Francisco Community Investments (Mar. 2002), http://www.frbsf.org/community/investments/lihtc.html. [ 2 ]. Michael J. Novogradac, Investing in Low-Income Housing Tax Credits, OCC Community Developments. (Mar. 2010), http://www.occ.gov/static/community-affairs/community-developments-investments/spring06/ investinginlowincome.htm. [ 3 ]. Id., See Understanding Low Income Housing Tax Credits: How to Secure Equity Investments and Evaluate Syndication Options. Corporation for Supportive Housing (Mar. 2006), http://documents.csh.org/documents/ ResourceCenter/DevOpsToolkit/UnderstandingLIHTCspdf.pdf. [ 4 ]. Sherrie L. Rhine, Low-Income Housing Tax Credits: Affordable Housing Investment Opportunities for Banks. Community Affairs Development (Feb. 2008), Found in Real Estate Law Clinic Course Reader, at p. 75. [ 5 ]. Lance Bocarsly, Real Estate Law Clinic Lecture. (Thursday September 6, 2012, 4:30pm.) [ 6 ]. Understanding Low Income Housing Tax Credits: How to Secure Equity Investments and Evaluate Syndication Options, supra, Corporation for Supportive Housing (Mar. 2006.) [ 7 ]. In actuality, the percentage of qualified basis that determines the amount of tax credits is not exactly 9 or 4 percent. The rate for the 4 percent credit floats in accordance with the Applicable Federal Rate and may fluctuate above or below 4 percent. The 9 percent credit will float beginning in 2013, although current legislation has been proposed to extend the 9 percent credit floor. House of Representatives Bill 3661 is making its way through Congress. See Mark Anderson, Tax Credit at Risk for Low Income Housing. Finance and Commerce (April 26, 2012, 4:35 pm). Available at http://finance-commerce.com/2012/04/tax-credit-at-risk-for-low-income-housing/. [ 8 ]. Low-Income Housing Tax Credit: Facts & Figures, Novogradac Affordable Housing Resource Center. http://www.novoco.com/low_income_housing/facts_figures/index.php. [ 9 ]. Tim Iglesias and Rochelle E. Lento, The Legal Guide to Affordable Housing Development. Found in Real Estate Law Clinic Course Reader, at p. 28. [ 10 ]. Rhine, supra, Low-Income Housing Tax Credits: Affordable Housing Investment Opportunities for Banks.† Found in Real Estate Law Clinic Course Reader, at p. 87. [ 11 ]. Understanding Low Income Housing Tax Credits: How to Secure Equity Investments and Evaluate Syndication Options, supra, at p. 4. [ 12 ]. Id. [ 13 ]. Id. [ 14 ]. Novogradac, supra, Investing in Low-Income Housing Tax Credits. [ 15 ]. James L. Logue III, How LIHTC Funds Can Help Banks Invest in Affordable Housing. OCC: Community Developments (Spring 2006). http://www.occ.gov/static/community-affairs/community-developments-investments/ spring06/howlihtcfunds.htm. [ 16 ]. Id.

Child Development Journal Article Review and Discussion Essay

Child Development Journal Article Review and Discussion - Essay Example This means whatever had been effective for a toddler might not work anymore when he is a teenager because his needs constantly change. For example, being a weekend parent from the time his child was a preschooler all the way up to being an adolescent may be a routine that provides a comfortable rhythm to a father. However, there are times when a child might need him more, especially if the child is a growing boy who needs a male role model in his growing up years. With this knowledge, parents and legal practitioners must make better decisions in designing a parenting plan for the children. This particular article by Hartson (2010) focuses on the infancy to toddlerhood stage of development of a child. Each developmental stage comes with its own challenges. The infancy to toddlerhood stage is a critical since an infant is a fully dependent being who cannot communicate his thoughts and feelings on how his parents’ separation affects him. Parents need to rely on his cues and research from child development studies to understand what he needs. Infants and toddlers, in particular, are yet in the process of establishing attachments to the significant people in their lives and when this is disrupted, may have serious implications in the development of their personality. An important factor to consider is the infant’s temperament since this gives a clear indication of how a parent should deal with him so they get along well. Some children may easily transition from relating to one parent to the other, some may be more difficult, and some may just be slow to warm up. The parent has his or her own temperament to reckon with, and the compatibility of the parent-child temperaments would constitute Chess & Thomas’ (1987) â€Å"goodness of fit† factor. In order to have a harmonious relationship, parents need to be able to adjust to their infant or toddler’s temperament. The child’s concept of time,

Economies of Scale Essay Example | Topics and Well Written Essays - 2500 words

Economies of Scale - Essay Example This concept is popularly known as 'Economies of Scale'. Many firms in different sectors of the economy are experiencing the economies of scale by virtue of expanding their economic activities to a greater level. The economies of scale may be internal or external. Internal economies of scale are experienced within the same firm while external economies of scale are experienced in the same industry. In this paper the internal economies of scale are discussed in detail in the Section-I. Subsequently disadvantages of the economies of scale for a firm as well as for the consumers of the firms experiencing economies of scale are described in the section-II and III. Finally the implications of the regulatory authorities on the concept of 'minimum efficient scale' has been described in section-IV. If the average cost per unit of input falls per unit increase in the output, then the firm is said to be enjoying the internal economies of scale. This in other words it can be expressed as a percentage change in all inputs leads to a greater percentage change in outputs. Here average total cost (ATC) first decreases because fixed cost such as buildings, equipments and management expenses remains constant and have been utilized to their optimum. The total cost is spread over a greater range of outputs. This increasing returns to scale is achieved till an optimum level after which any increase in the quantity of input, the average total cost(ATC) increases showing the diseconomies of scale. Firms which generally require large capital investments show economies of scale. This internal economies of scale is of five types, such as technical, commercial, managerial, financial and risk bearing economies. The pattern of the economies of scale is shown in the figure- 1. Figure-1: Various types of economies of scale (Source: http://www.bized.co.uk/educators/16-19/economics/firms/presentation/scale_map.htm ) There are various factors as shown in the figure-1 contributes to different economies of scale. Each factor has got significance for reduction in average cost of production thus making the output cheaper. Technical: Technical economies are when improved techniques benefits a firm to increase its production to a large extent. "Businesses with large scale production can use more advanced machinery (or use existing machinery more efficiently). This may include using mass production techniques, which are more efficient form of production" ( tutor2u.net). This technical economies of scale is achieved due to several factors, such as: Indivisibility of Plant:- Due to imperfect divisibility of factors the economies of scale occur and the long-run average cost falls because of this indivisibility of factors (Kaldor & Robinson, cited by Ahuza, 2004). In this case most of the factors are 'lumpy' i.e. they are available in large indivisible units which can therefore yield lower cost of production when they are used to produce a large output. Here example can be given of telecommunication industry where the initial investment in infrastructure is too high. So by increasing a larger clientele base only the fixed cost can be spread over and increasing return to scale may be seen. Likewise another example is radio-dispatching technology used by the police officers. The cost of installing the technology is about the same no

Dances with the Wolves by Michael Blake Essay Example | Topics and Well Written Essays - 750 words

Dances with the Wolves by Michael Blake - Essay Example At the outset, the reader is given a glimpse of the character of the protagonist. When, in an attempt to commit suicide, Dunbar rides his horse into battle, he has the courage to face death head on and to stand his ground on the battle field. 1863. The war is at a deadlock. Soldiers, exhausted, are taking a momentary respite from the hard day of battle. Lieutenant Dunbar, gains consciousness, to find himself on the operating table with severe injuries, next in line to have his leg amputated. Dunbar shows immense courage when he decides to put on his boots and stumble back to the battlefield. He feels disillusioned, frustrated and helpless. â€Å"He had raised his arms in a final gesture of farewell to this life†¦. He had only wanted to die.†1 However, fate and his skill with a horse ensure that he twists and weaves through the enemy lines unscathed. He holds his ground on the battlefield and charges upon line after line of confederate soldiers. Upon seeing this, the moral e of the union army is boosted and they charge the field resulting in victory. Dunbar is branded a hero and decorated. Arriving at Fort Sedgewick, a deserted outpost, near Indian country, Dunbar showed courage, bravery, and a strong sense of duty by choosing to remain when many would have turned back. Dunbar as a reward chose to be posted at the western frontier. ... He forgot that he was completely naked; neither clothes nor a weapon to protect him, he bellowed at the enemy.2 When he met the rest of the natives (Wind in His Hair) too, he rushed forward fearlessly without any regard to his safety3 or any danger to his life thereby earning the respect of the Sioux tribe. He was surrounded by the Sioux tribe where he was putting up. The tribe tried to intimidate him by attempting to steal his horse and scare. To this Dunbar thought that he needs to have a dialogue with the tribe and sets out to see them, and in the way comes across a tribal woman who was injured. He took her to her tribal house, and in the amazement of everyone around they changed their perception about him and welcomed him. After having praised the tribe with his deeds he starts to live with the tribe on a permanent basis. He begins to build a rapport with the tribe and slowly engages himself in the culture of the tribe. He really appreciates the way the tribe is living and falls in love with the whole way of living which involves simplicity and humility unseen in those days in America. He becomes hero within the tribe when he locates a migrating herd of Buffalo and participates in the hunt. He is given the status of an honoured guest in the tribe and the people love him for helping them hunt the herd of Buffalo for their hunger needs. While at his stay in the tribe, he falls in love with Stands with a Fist and gets the approval of her father to marry her, and while doing so he abandons his fort for ever. He is given the name â€Å"Dances with Wolves† when he was chasing Two Socks and the Sioux were observing his move while he was through the act of