Lockheed management Essay Example for Free

Lockheed management Essay We examined the decision to invest in the Tri-Star project by forecasting the cash flow associated with the project for a volume of 210 planes. We also asked what a valid estimate of the NPV of the Tri-Star project at a volume of 210 planes as of 1967 would be. We found this to be -$584 M. This was clearly an unacceptable NPV for capital budgeting on the project. A break-even analysis revealed that the project reached economic break-even with the production of 275 planes at . 5 M per unit but did not reach value break-even at that level of production. Despite industry analysts predicting 300 units as Lockheed’s break-even sales point, at this level, net present value remained insufficient to cover costs at negative $274 million. If the company had performed a true value break-even analysis, management would have realized that roughly 400 Tri Star aircraft (about 67 per year for six years) costing somewhere between $11.75 million and $12 million per unit would have to be sold in order to break even. The investment decision made by Lockheed to pursue the Tri Star program was not a reasonable one. A true value analysis shows that at the production level of 210 units, the project would result in an economic loss of $584.05 million and a profit loss of $480 million. In addition to miscalculating the break-even level of production, Lockheed management overestimated the growth rate of air travel industry.

Korean Players in Major League Baseball Essay -- Major League Baseball

Even though Chan-Ho Park’s case proved that Korean players could compete in Major League Baseball, none of other Koreans successfully settled in U.S.A. after Park. Approximately after ten years, a similar case with Park’s debut came out with Shin-Soo Choo. Shin-Soo Choo, who did not make a debut in Korean Baseball Championship before debuting in Major League Baseball, made debut with Seattle Mariners on 21 April 2005. Choo dreamed about Major League Baseball, which led him into a Rookie contract with Seattle mariners after his graduation from high school in 2000. Therefore, he made up to Seattle Mariners’s Minor League and even up to Major League (â€Å"Choo Shin Soo†). Nonetheless, his debut in the Major League did not lead him into running for full season, and he mostly spent time in the minor league. Finally, he was traded to the Cleveland Indians in 2006. As soon as he was traded to Indians, he ironically hit a home run against the Seattle Ma riners, and he recorded a 0.295 Batting Average and a 0.373 OBP (On Base Percentage) in 2006 season with the Cleveland. A similar quality of plays was continued until the season 2008. In 2008, Choo finished the season with a 0.309 Batting Average and a 0.397 OBP. Even more, during September, he pushed up his Batting Average up to a 0.40 with thirty-four hits and five home runs. Hence, Shin-Soo Choo was selected as the American League Player of the Month. In 2009, Choo made contract with Indians for only one year, and during the one-year contract, he broke his records and joined 20-20 club (20 home runs and 20 stolen bases). Choo was the first Asian to earn the title in the Major Leagues and became the only player in the American League with a 0.30 Batting Average, 20 home runs, and 20... ....com." Baseball-Reference.com. Web. 17 Mar. 2014. "Korean Baseball History." Naver Encyclopedia. NHN, Web. 17 Mar. 2014. Minami, Craig. "2013 Dodgers Review: Hyun-jin Ryu - True Blue LA." True Blue LA. 4 Nov. 2013. Web. 17 Mar. 2014. Rosenbaum, Mike. "Why the Los Angeles Dodgers Will Overpay for South Korean LHP Hyun-Jin Ryu." Bleacher Report. 13 Nov. 2012. Web. 17 Mar. 2014. "Shin-Soo Choo." Baseball Reference- BR Bullpen. Web. 17 Mar. 2014. "Shin-Soo Choo Batting Statistics and History - Baseball-Reference.com." Baseball-Reference.com. Web. 17 Mar. 2014. Swaine, Rick. "Jackie Robinson." SABR. Society for American Baseball Research. Web. 16 Mar. 2014. Wells, Adam. "Ryu Hyun-Jin: Dodgers' Foolish Investment in Korean Star Will End Badly." Bleacher Report. 10 Dec. 2012. Web. 17 Mar. 2014. "What Is Moneyball?" SportingCharts.com. Web. 17 Mar. 2014.

Modern Definition of Rule of Law

Introduction to the Rule of Law & the modern definition. Rule of Law in the layman perspective is the principle that nobody is above the law and that every man’s act is subject to the law. The law referred, in our context, is the Malaysian Constitution which embodies the definition, expressly in many of its provisions. The constitution has the absolute power as against the arbitrariness and discretionary power of the government. This concept is commonly practiced in democratic countries.Rule of Law and Rule by Law should be distinguished as the latter is merely a government’s tool for the purpose of ruling and governing only. It is not a good approach as compared to the Rule of Law because law is made by the people, for the people. The concept used under Rule by Law could lead to abuse of power and unfairness especially in the context of human rights. The countries practicing Rule by Law are mostly the autocratic countries where the law is followed because they are forced to, not because they respect the supremacy of the law.According to De Smith, the concept of Rule of Law is one of open texture with wide range of interpretation, or in other words, flexible. Dicey propounded 3 principles of Rule of law in his writings, ‘Law of the Constitution’. However Dicey’s ideas are no longer in use as modern democratic society has emerged. It is only a fashion now to insert Dicey’s to retain the basic values of Rule of Law but it must be interpreted according to our modern needs of society. Dicey’s ideas on ROL includes that; – 1) Absolute supremacy of regular law. ) Equality before the law 3) The Rule of Law includes the results of judicial decisions determining the rights of private persons. Internationally, the Rule of Law was even stated in the Preamble of the Universal Declaration of Human Rights adopted in 1948; where it was laid in the third paragraph that if the government does not want the people to revo lt as their last resort to overcome tyranny by government, then it is important for the fundamental liberties of the people to be defended. The way to defend their liberties is through the Rule of Law. The UDHR has 30 articles which upholds human rights.An international meeting to discuss and make declaration on the fundamental principle of rule of law was held in 1959 named the International Commission of Jurists(ICJ). The ICJ is the modern revelation of Rule of Law that fits the present circumstances. They declared that the rule of law implies certain rights and freedom to create a conducive social, economic, education and cultural norms to achieve human dignity. Joseph Raz, in his writing, â€Å"Rule of Law & It’s Virtues† had outlined a set of characteristics, a total number of 13 virtues of rule of law.The most basic aspect is that the people must be protected by the rule of law, and nothing can happen without the sanction and permission of the law. Others inc lude that the law must be prospective rather than retrospective; the law must be stable and certain and not changeable; the independence of judiciary has to be assured; the law must be fair, just and reasonable; the people should have the access to the courts; principles of natural justice concerning the right to be heard and the judge must not be bias should be observed and many other important characteristics.All 13 virtues should be complied and applied to make sure that the rule of law exists in a country practicing it. Ingredients of The Federal Constitution The Rule of Law is interrelated with the principles of human’s rights and dignity and these can be seen in our own Federal Constitution. Part II of the Federal Constitution enumerates a number of fundamental liberties which devotes 9 articles altogether. Few are: 1)Liberty of the person 2)Protection against retrospective criminal laws and repeated trials 3)Equality 4)Freedom of speech, assembly, association 5) Freedo m of religion and few more.The Parliament has made extensive use of emergency powers, sanctioned by the Constitution. Part XI with regards to emergency powers must be read together with the Fundamental Liberties. By Article 149, it permits the suspension of the Fundamental Liberties, since it validates any legislation otherwise outside the legislative power of Parliament. The Proclamation of Emergency provided in Article 150 permits Parliament and YdPA to override all provisions of the Constitution. This is not to say rule of law is not stable, but that the regular law operates alongside a system of emergency law which is much more draconian.An example is the powers of preventive detention, or International Security Act, which will be discussed further. Constitutionalism Crisis: International Security Act The International Security Act or more commonly known as ISA is an old and inhumane law which is against with the principle of Rule of Law. ISA is a cruel and harsh law and has alw ays been an issue which has yet to be solved in satisfaction. Proposals for the ISA to be reviewed and subsequently, be abolished has been made since Tun Mahathir and Tun Abdullah Ahmad Badawi’s times as Prime Minister, and once again, now made by our present Prime Minister, Datuk Seri Najib Razak.It has been 50 years since the ISA came into force but the government has still yet to take any actions in viewing this problem. The ISA made it seems as though the Rule of Law does not exist in Malaysia or less effective. The ISA is a preventive detention law that allows the force to detain a person without trial or criminal charges under lawful circumstances and he will be detained by the police for up to a maximum period of 60 days or the full period. It seems like that the ISA either does not understand or does not believe in the Rule of Law or the Human Rights.Under an ordinary law, every person has his own rights and chance to stand trial if he has committed an offence. When I SA first came into force in 1960, it was made based on the promised made by our first Prime Minister that the law will be used rationally and only against government’s enemies, which was then the communists. Nowadays ISA is used on reasons to deal problems relating sensitive issues like conflicts in a multi-ethnic, multi-religious, multi-cultural society. The essence of ISA is to allow detention without trial which goes against the right of a person to fair hearing.Therefore, does this means that the ISA is against the human rights? Accordingly, is it contrary to the rule of law and thus does the principle rule of law exist in our country? In answering the first question, detention without trial is a blatant act and against citizen’s rights. The ISA reflects that the State has failed to uphold its responsibility this right. The judiciary is excluded from ensuring that those detained under ISA are treated according with the human rights. Not a person should be held in d etention without fair trial because it violates the human rights.Human rights and Rule of law are interconnected and so if ISA is contrary to human rights then it acts the same to the rule of law. This makes us question whether the rule of law still does exist in Malaysia. Any country subscribing to the rule of law, will never allow the abuse of power to detain a person without trial. This draconian legislation should be reviewed and repealed if the government still has the intention in making the rule of law as one of the general principles of the constitution. 1988 Constitutional Crisis Other constitutional crisis relating the rule of law follows the withdrawal of Tun Salleh Abas as a judge.This case was also known the 1988 Constitutional Crisis. In 1988, Tun Salleh Abas was brought before a tribunal on grounds of bias as a judge. The Prime Minister then, Tun Dr. Mahathir Mohammad, explained that he took an action against Tun Salleh under Article 125 of the constitution, on ground s of his behavior and being unable to perform his function as the Lord President. The tribunal concluded that â€Å"the respondent has been guilty of not only ‘misbehavious’, but also misconduct which falls within the ambit of ‘other cause’ in article 125, which renders him unfit to discharge properly the functions of his office†.The 1988 Constitutional Crisis is related to Joseph Raz’s minimum standards on rule of law. Joseph Raz included one of the virtues (among others as mentioned earlier) that the natural justice should be reviewed. The natural justice said concerned; i)the right to be heard â€Å"audi altera partem† and ii)a judge must not be bias â€Å"nemo judex in cause sua†. The latter part has a deep connection to what discussed in the suspension of Tun Salleh Abas. Stephen Kalong Ningkan (1966)In 1966, Stephen Kalong Ningkan was dismissed from being the Chief Minister when the State Governor showed a letter signed by 21 members of assembly saying that they longer had no confidence in him to continue his duty. He was asked to resign himself which he refused to do so. He alleged that the letter did not tantamount to a vote of no-confidence. He was then dismissed by the Head of State by publishing a declaration in the Gazette that Stephen Kalong Ningkan had ceased to hold the office of Chief Minister. However his dismissal was an unconstitutional one.It was held by the court that the law under Sarawak Constitution, a Chief Minister can only vacate his office by his resignation and not by dismissal. There were no authorities stating that the Head of State has the power to dismiss a Chief Minister. Therefore looking through a rule of law’s view, it could be said that the unlawful dismissal of Stephen Kalong Ningkan by the Head of State was contrary to the principles of Rule of Law. Perak Crisis (2009) The constitutional crisis which happened in Perak is similar to what happened in 1966 in the case of Stephen Kalong Ningkan.The crisis began in February 2009 when four assemblymen of Pakatan Rakyat withdrew from the party. Pakatan Rakyat was then the ruling party in Perak, and their withdrawal from the party resulted a loss of majority representatives. Nasaruddin Hashim, was the Chief Minister of Perak before the crisis started was one of the assemblymen whom cross-floored Pakatan Rakyat. The consequence was that the Sultan of Perak, used his discretion under Art 18(2)(b) of the State Constitution, and commanded Mohammad Nizar Jamaluddin to dismiss himself from the position of First Minister. The Sultan of Perak then appointed Dr.Zambry Abdul Kadir from Barisan Nasional to fill in the vacant position and be the next Chief Minister. Nizar claimed that there should be a fair free election since this country practices democracy, and for that announced he refused to resign and therefore, the appointment of Dr. Zambry was null and void. The High Court held that the dismissal and appointment made by the Sultan of Perak was unlawful and an unconstitutional one and that Nizar has always been the rightful head of government. The Court of Appeal however held that the action taken by the Sultan was legally valid and certainly followed the State Constitution.According to the Perak Constitution, the Sultan has two options in settling a conflict of lost confidence; which is either to dissolve the state assembly or appoint a new Chief Minister. The Sultan in this case did the latter. Such discretion is a Royal Prerogative. The Sultan is not subject to recommendation or approval of any other person while making the new appointment of Chief Minister. The difference between the Perak Crisis and Stephen Kalong Ningkan case is, the Perak Constitution has no exact statement of means of vote of confidence, which makes the action taken by the Sultan is constitutional and valid while the appointment of Dr.Zambry is also valid and Mohd Nizar must tender resignation. This woul d also mean that it follows the definition of Rule of Law on absolute supremacy of the law on grounds the dismissal was lawful. Conclusion With all the definitions and constitutional crisis discussed, it all comes down to one question; to what extent does Rule of Law exists in Malaysia? It is with no doubt that our country is a democratic country which is against arbitrariness and upholds the supremacy of our constitution. However with constitutional crisis that has happened, this shows that the Rule of Law xists merely on the surface of it. Our judges need to be prepared to enter the fray in the struggle of persevering the human rights and fundamental liberties. Only then we can say Malaysia is grounded on Rule of Law. Without justice, the democracy we practiced would mean nothing but just a concept. There is a need for all Malaysians to understand and appreciate the importance of the rule of law and to be vigilant that it prevails in this country. Without the rule of law, there ca n be no justice.

Revolution of the year 1980 - Free Essay Example

Sample details Pages: 1 Words: 268 Downloads: 6 Date added: 2019/10/10 Did you like this example? This revolution of the year 1980 was sought to alter the American citizens’ attitude towards their government, their beloved country and hence their leaders. He started the campaign by considerably reducing the size of the cabinet. This was meant to reduce the wage bill to the Americans. Don’t waste time! Our writers will create an original "Revolution of the year 1980" essay for you Create order The wage bill was become one of the biggest recurrent expenditure by the time (3-6). Ronald Reagan also passed numerous laws that protected every American and protected the boundaries and basic rights of every American citizen more aggressively. This was mostly against external enemies especially the United States of Soviet Union. His leadership was mainly in developing United States into levels that they would feel proud of their mother country; moreover, he protected the United States citizen rights, freedoms and dignity within the boundaries and without. With all these positivity, President Ronald Reagan was able to lower taxes for the American citizen. This was intended to allow the basic goods and services more affordable to the common American As a coin has two sides, the strategy President Reagan chose cut two way. The negative side of his strategy was the creation of social classes and widening the gap. The strategies he chose favored the rich and oppressed the poor. This led to the increase of crime, homelessness and other social vices. Reagan also promoted the oppression of feminism, civil rights and environment movement group. The lack of proper legislation to uphold these important societal movements, he concentrated on development and making American as proud as they could with America. Within this time the United States economy nosedived, unemployment rates were increasing exponentially.