The French Ban Of The Hijab

The French Ban Of The Hijab The wearing of the hijab or otherwise known as the Islamic headscarf has been a focal point in many discussions and a highly debatable subject in France. Ever since the France banned the wearing of Islamic scarves in 2004, there has been a spectrum of issues that arise particularly in three related areas: religion, self-identity of a Muslim veiled woman, and the national identity of France. What does the tern hijab denote? What is the national identity of France and how does it view the hijab? What constitutes to the headscarf ban? In this essay, I aim to discuss the implications of the clash between Frances national identity and the constructed identity of wearing the headscarf for French Muslim women. Secondly, I discuss about the repercussion of the headscarf ban such as discrimination faced by the female Muslim students at schools. For the study of this paper, I focus only on the Islamic headscarf ban though other religion symbols are banned in France such as the Jewish skullcaps and Christian crosses. The literature review foregrounds the above mentioned three questions. Background Literature Review A confusing array of positions has been taken about the relationship between wearing the hijab and Islam over the recent years. (Winter, 2008) For some, it marks the religious symbol of Islam and inevitably becomes an inalienable part of a womans identity. Religious scholars have asserted that Islamic law requires women to wear the hijab, a headscarf covering their ears, hair and neck.(Wiles, 2007) Relating to this view, Muslim women thus believe that wearing the hijab is an obligation under the commandment of the Quran. Originally, the term hijab meant curtain or separation which denoted to hide from view. Donning the headscarf, indicates that underneath it is a woman and without it, Sheikh Al-Hilali as cited in (Winter, 2008) is uncovered meat to eyes of the men who become cats, and thus cannot be blamed for harassment signifying womans weakness. (H.Sinno, 2009) states that wearing the hijab may serve as a womans emancipation and empowerment. On the contrary, French liberal perfe ctionists view the donning of hijab as a marker of female and religious oppression affecting a womans autonomy (Laborde, 2006) that contradicts with the principle of secularism. Secularism is forms part of the national identity of France, a country that disliked the force of the Catholic Church after centuries of religious battle. The roots of secularism can be recalled back into early liberalism and its succinct focus on universality, rationality and individual autonomy (Asad 2003; Yavuz and Esposito 2003) as cited in (GÃ ¶kariksel Mitchell, 2005). Fundamentally denoting, it aims to separate state and religion meaning being neutral in religion so that a democratic republic is formed. Therefore, in the eyes of secularism, religious conspicuous symbols cast religious differences onto individuals that are supposed to be rational and equal. (GÃ ¶kariksel Mitchell, 2005)As such, the wearing of hijab is perceived to indicate a non-secular expression which gradually initiated the ban. The French law imposed a ban for prohibiting all overt religious symbols which took effect on March 2004. (Kiersh) The law is a modification to part of the French Code of Education that constitutes the principle of secularity. As mentioned, France is a self-declared secular state and the manners which public schools are run are directly influenced by that notion. The controversy of the headscarf ban started with a decision undertaken by a high school headmaster in Creil who expelled three female Muslim students wearing the hijab on 18th September, 1989. Within a week, his decision was overturned. The Education Minister, Lionel Jospin , sought legal opinion and the Council stated that the right to don the headscarf was in accordance to the principle of secularism and was legally essential of French citizens fundamental doctrine rights to exercise the freedom of expression and religion. Furthermore, it can be reviewed that the wearing of such a religious symbol should not be conspicuou s in a way that leads to disrupt order in schools. Later, the Council issued a circulation advising that ostentatious elements should not be worn in schools. (Wiles, 2007) A series of tensions and irregularities stirred up such as ethnic-related violence which the government blamed on the presence of religious symbols. According to (Wiles, 2007), in July 2003, President Chirac recommended the passing of the law that bans religious symbols in state schools and reasoned that the main purpose was to affirm independence and openness to cultural diversity, arguing that the wearing of headscarf does not fit in this vision. Discussion In retrospect with the lectures and readings, it can be examined that there is misrecognition of the French Muslim women with the French law of prohibiting the wearing of religious headscarves. As (Tatum, 1997) highlights, there is a mythical norm that exists in the minority group which says, that is not me and in this case, if a Muslim woman who believes that her religion requires her to don the hijab, is forced not to wear it to abide the French law of secularism, then, that is not her. Furthermore, by prohibiting her from doing so strongly infringes on her right to that freedom of religion and conscience according to the view of (Wiles, 2007). France as mentioned is a multicultural society, but as (Blum) highlights, multiculturalism is a tolerance for and recognition of the right of other groups to pursue their own cultural identities, but which is being diluted in the effect of the ban. The ban does not have respect for and the interest in the cultural heritage of the Muslims, an d thus France cannot be said to be a multicultural society, for there is racial discrimination that surfaces from the ban. Chirac stated, Secularity is one of the republics great achievements. It plays a crucial role in social harmony and national cohesion. We must not allow it to be weakened (Fontanaud, 2003, Chirac urges Muslim headscarf ban, para. 13) As mentioned in the quote, the terms social harmony and national cohesion are indeed questionable as there have been social unrests due to the protests by the Muslims to urge Chirac not to propose the law to enforce the prohibition. Representing the subordinate group, they feel victimised and refuse to be obliged to succumb to such a ban by the dominant group because they lose their religious identity; their dignity and honour. (Taylor, 1994) A law on religious symbols in the school environment could stigmatise a whole community, said Dalil Boubakeur, president of the French Council of the Muslim Faith (CFCM). (Fontanaud, 2003, Chirac urges Muslim headscarf ban, para. 17) I agree with Dalils opinion, as the stigmatisation as mentioned could result in an inherent reduction in the identity of the religion in the discourse of the French community and the protests may reflect the Muslims reaction to re-acclaim their identity, dignity and self-respect. (Tatum, 1997) According to (Fontanaud, 2003), Chirac rejected the commissions proposal to mark the holy days of minority faiths, reiterating that French pupils had many official days off. One of the minority faiths include Islam and by doing so, demonstrates blindness to their religion and its unacceptance. (Taylor, 1994) Looking back at the notion of secularism, one may question in what way does it embrace a democratic society when it visibly demarcates the subordinate groups in terms of religious practices, despite claiming to promote cultural diversity and social harmony. In other words, it can be said that in France, do what the French do just like the saying goes in Rome, do what the Romans do to have Frenchness1 or to be called a French citizen, one must not wear the headscarf, if not, you are the other as (Tatum, 1997) puts it. In schools, French Muslims are placed at a fix amidst this identity struggle between faith and citizenship, and some are expected to compromise in wearing a bandana. (BBC, Muslim girl shaves head over ban , 2004) Touria adds: Its part of who I am. Its not just some bit of fabric on my head. Its everything. People say that its the women who wear the veil that are submissive but I think it is those women who are submissive, because it is what men want, women half naked. (BBC, 2004, French scarf ban comes into force, para.3) Tourias statement clearly contradicts Sheikh Al-Hilalis statement as cited in (Winter, 2008) that had been mentioned earlier in my introduction, where it is purely up to the individuals belief to don the headscarf, whom in this case, regard it as representing who she is (Tatum, 1997) and its possessed worth is much more than its material or function, neither does it represent a sign of weakness to the male gender. At the same time, Touria highly attunes by wearing a bandana because she refrains from drawing attention to herself or her religion, if so, may face racial discrimination in school and be excluded as a member in that discourse community. (BBC, French scarf ban comes into force , 2004). In some schools, the rule is so strict that, even a bandana is not permitted. Cennet Doganey asserts that she respects the French law and the Muslim law and shaves her head completely. The cause that led to this was due to the fact that she was refused to enter the class despite wearing a bandana and states, I respect the law but it did not respect me. (BBC, Muslim girl shaves head over ban, 2004) To her, the French law discriminates in the form of tangible representatives such as the headmasters by restricting her freedom to exercise the rights of her religion due to the headscarf ban in public schools. Some girls are even being sent home which is justified as being required to abide by the French law, that being one dimension but another which presents itself as a pillar of discrimination. Their education gets affected and they need to make a choice to go against their religious beliefs to be an inclusive French citizen. (Hashmi, 2000) If having awareness to cultural identity is th e objective of secularism in a multicultural community, then there should be cultural pluralism that involves the different racial groups to have tolerance and acceptance for and recognition of the rights of one another to pursue their own cultural exploration. As (Taylor, 1994) mentions as cited in (Blum), liberal values needs to present in the notion of multiculturalism, which contradicts the principle of secularism and the headscarf ban. Neither is there equality in dignity nor respect for that religious practice. It seems to however connote the wearing of the hijab as a threatening weapon to secularism. (Blum) reaffirms that a persons cultural identity has a distinctive set of history and practices which is central to ones overall individual identity. Hence, by being true to the constituents of the ban in accordance to the French law, the French Muslim is being separated of her own identity and becomes a misrecognised marginalised individualist whose dignity is not respected by the law. (Robert J.Pauly, 2004). Supporting this view, Taylors notion of recognition as cited in (Blum) is defined as to recognise cultural differences which creates the identities of the Muslim individuals, and by doing so means to respect their dignity, if not, it dishonours them. There are limitations to the scope of my discussion due to adhering of the word limit otherwise, the concept of integration, assimiliation and melting pot not only in France, but other parts of Europe would have been further explored as the headscarf ban arises in Turkey as well as Germany. Conclusion It appears that despite efforts undertaken by the French government to separate state and religion, it is clear that different individuals have different realities. The reality of the headscarf ban in the eyes of French Muslims causes discrimination and a separation from ones identity. The reality of secularism has good intentions in having individuals to be liberated from assumed oppressive religions but demonstrates otherwise where it stigmatises cultural identities, portraying them to have less worth in the society. Multiculturalism needs to be deeply examined in the French context due to the consequences mentioned that arise from the headscarf ban. Indeed, the headscarf ban itself needs to lend itself to be further investigated on whether it is a necessity or intolerance.

Economic Impact of Population and Technology on the Environment :: Environment Environmental Pollution Preservation

Economic Impact of Population and Technology on the Environment Ask any economist what two things have changed in the past three or so million years since humans first began appearing in demographically significant numbers and he will tell you with unwavering confidence: population and technology. And that economist would be right. These two factors are the root cause of every change in the standard of living we have experienced since the dawn of humanity. Any anthro-ecologist posed with the same question and will offer up little more than a puzzled look. Only two? The point, here, is that economists have a certain tendency to apply Razor's Axiom to every situation imaginable. Looking at the effect humans have on the environment is most commonly a qualitative exercise. While it may be possible to count sheer number of deer hunted or square miles of forest burned as the result of human involvement in nature, such calculations are more commonly done with anecdotes and broad estimates. Ask an economist to measure the damage done to the environme nt by humans and you will hear about equivalent and compentating differentials two quantitative methods of valuing a qualitative loss. Both neccesitate understanding humans' preferences and values, and take an understandably anthropocentric view of the Earth. Regardless, in absolute, per capita, and relative terms, both of those differentials have increased consistently over the course of human history. The first step in evaluating human impact on the environment is to elucidate what we consider human-caused ecological damage. There are, not surprisingly, a great many approaches possibly in defining such a broad concept, but there are a few basic principles which are nearly universal bads. The damages in this illumination are defined with a Darwinian perspective. One such bad is the loss of diversity among non-human population. This loss of diversity can take the form of extinction of plants or animals, a loss of genetic diversity among one species, or a forced-relocation of an existing population. Another bad is the transformation of terra, whether intentional or unintentional, as the result of human activity. Examples are common think 1930 s Oklahoma Dust Bowl and are often caused by agricultural activities. The next step in evaluating the extent human-caused environmental damages lies in the measurement of such damages. Since no dollar value can be placed on the extinct ion of a species, we must estimate the value that species contributes to the Earth s consumption (evaluating changes in consumption is the only way we can say that one situation is better than another).

Graduation Speech -- Graduation Speech, Commencement Address

I would like to thank all of you for coming on such short notice. After all, 18 years hardly seems like enough time to prepare for graduation. In fact, as I stand up here and looking at all of my classmates, I wonder if I am ready to graduate. But I know that high school has merely been an appetizer in the seven course meal that we call life. And for all of you that know me -- family, friends and teachers -- you know that I have a great appreciation for food. Whether it's a juicy slab of prime rib at dinner or just a package of Fruitos during third period, I can never resist. It is so sad, because often times I even think in terms of food. In fact, as I sat down to write this speech the best form in which I could think of giving it was to compare our lives to a meal. In that meal, high school is merely the first course or an appetizer, a small sample that wets our appetites for the main dish. In the midst of indulging in our appetizers we sometimes forget that there is a main course yet to come. Some of us have sampled oysters and discovered that we have a hatred for seaf...

Life of the Soul Revealed in Sailing to Byzantium and Shadows Essay

Life of the Soul Revealed in Sailing to Byzantium and Shadows  Ã‚        Ã‚  Ã‚   The view of death from an aged individual can be one of acceptance of his life’s end or one of mystified wonder over the immortality of the soul. Both William Butler Yeats and David Herbert Lawrence take the latter view in their respective poems, "Sailing to Byzantium" and "Shadows." By viewing death as a continuation of their soul’s life in a different realm of being, they provide a comforting solution to the fear that death may be the end of their existence. In W.B. Yeats’ "Sailing to Byzantium" and D.H. Lawrence's "Shadows," death is addressed from the viewpoint of one preparing for its eminent arrival; Yeats, however, expresses the belief that he can live forever when his soul becomes a form of art whereas Lawrence states that death delivers him "to the hands of God to send [him] forth as a new man." "Sailing to Byzantium" presents the end of a man’s journey through life in which he yearns to, "once out of nature," be cast in gold as a work of art. By using the motif of a journey to parallel the end of one’s life, Yeats presents Byzantium as the ultimate destination for his mundane body. He contrasts the "holy city of Byzantium" with the country for the young, a land which he has now departed. In the land of the young, "the aged man is but a paltry thing" who is out of place among those who are "caught in the sensual music." The knowledge that comes with age, including the respect for things immortal, causes the traveler to leave the place that "neglect[s] monuments of unageing intellect." The realization that life is ephemeral is a divisor separating those who reside in the land of the "caught" young and those who exhibit free action by traveling... ... Harold Bloom. New York: Chelsea House Publishers, 1986. 128-132. Holdberg, Michael. " ‘Sailing to Byzantium’: A New Source and a New Reading." English Language Notes VII (1974): 111-116. Macheice, Louis. "The Ash of Poetry." The Poetry of W.B. Yeats. London: Oxford University Press, 1941. 139-141. Olson, Elder. " ‘Sailing to Byzantium’: Prolegomena to a Poetic of the Lyric." University Review VIII (1912): 257-269. Panichas, George A. "Voyage of Oblivion." Critics on D.H. Lawrence. Ed. W. T. Andrews. Coral Gables: University of Miami Press, 1971. 121-123. Perloff, Marjorie. "The Rhyme Structure of the Byzantium Poems." Rhyme and Meaning in the Poetry of Yeats. Mouton & Co.: Paris, 1970. 122-131. Young, David. "Byzantium and Back." Trouble Mirror: A Study of Yeats’ ‘The Tower.’ Iowa City: University of Iowa Press, 1987. 14-29.      

Nick Swinmurn

Culture and diversity of a company is extremely important and will determine the success of a business. Deciding what culture Is best for a company Is challenging. A lot of focus should be on what type of leader Is most appropriate for the organization. Implementing strong values will strengthen the company. The way company's adapts to change will also affect the way a company will prosper during challenging times. Founded by Nick Swimming In 1999 Capos Company is a solely web based retailer. Nick decided he wanted to create a company after he spent hours searching the entire mall for a pair of shoes and could not find them.He then attempted to find the shoes on line and realized there was not a website specific to shoes. After his experience he decided there was a market for this type of industry. Originally Capos was created to be an online store that offered the widest selections of shoes available all in one place. Since, the company has evolved over time and now is selling a gre at selection of Items rather than Just shoes. They have boarded their selections to both women and men's clothing along with everyday household Items. They provide free quick shipping and returns.The overall goal is to â€Å"provide the absolute best service online-not just in shoes, but in any category (Capos, 1999-2014). The Culture of Capos Capos has created a very unique and valuable culture. They have implemented what Is called the â€Å"Capos Family Corey Values† that sets the foundation of the entire company. These core values are listed on their company's website and are recommended for employees to follow on a day to day base. They believe that employees can be motivated, involved and happy to come to work while providing excellent service to customers.Capos creates a clear line of communication, encouraging employees and constantly motivating them. They want their employees to be innovated, creative and â€Å"do more with less† (Capos, 1999-2014). Most impor tantly they want their employees to ‘WOW through customer service. This provides an environment that makes employees want to work. They take time to focus on each employee ensuring they are put Into the right position and properly trained for success. Capos believes this will lead to employee longevity and growing leaders for the future.Their hard work does not go unnoticed and for the past 6 years Capos has been named in the as one of the FORTUNE's 100 Best Companies to Work (Capos, 1999-2014) A random act of kindness weekly parade is the norm at Capos. This Includes selecting 3 random employees each week, dressing them up in funky hats and/or props, taking their photo and Glenn them gift. This falls under ones of their core values creating fun and a little weirdness. Yelling spontaneously at other employees for fun or trying to make one another laugh also emphasizes the core value.There are four main types of organizational cultures. They include hierarchal, market driven, c lan, and adaptable/flexible culture. Capos organizational culture only one type of organizational culture. Capos falls under two categories, the clan culture and adaptable/flexible culture (William, 2013). Clan culture represents a family-type organization (Savory, 2013). This culture involves building strong relationships and development of employees through training. Clan culture employees collaborate with coworkers and are caring for each other.Two of Capos core values include building open and honest relationships with communications and creating positive teams and family spirit (Capos, 1999- 2014). Capos is willing to change and adapt. This is why the company also follows under adaptable/flexible organizational culture. The adaptable/flexible culture involves creating new ideas and preparing for future improvements, which is something Capos practices (Savory, 2013). The company has already determined that in the future 30% of all venders/seller transactions will be mad online w ithin the United States.Their vision is to be the company that offers the best service and the largest selections, thus resulting in most customers' purchases coming from their website (Capos, 1999-2014). Capos is constantly changing and always looking for the newest, most retrieve solutions to solve any issues. Capos embodies these particular culture behaviors because the CEO, Tony Whish, honestly believes this is the best way to run a company. He treats his employees like family. He personally believes in the values and culture of the company.Tony wants his employees to be happy and truly believes this is return will transfer to customers. Capos values and culture is not only the guidelines for the company but overall should be guidelines they follow in life (capos, 1999-2014). The best suited leader for Capos Company is a twenty-first-century leader. This errors should be able to adapt to both Transformational and transactional leadership styles. A transformational and transactio nal leader will require someone who and foresee a vision and have the motivation to accomplish.This type of person requires creativity and innovation skill with the ability to make decisions. The type of leadership this person should have is supportive leadership style. They should be approachable and friendly and a allow employees feel equal around them. It will be important to provide a friendly atmosphere where employees feel comfortable to be open and trusting with their leader. Given that Capos sales multiple categories of items, they are not at a high risk for a large demand to decline.If some of the company's category items do decline, Capos has the option to sell different items that are currently in demands. Since the company is still growing there are more markets that Capos can branch out to widen their options if needed. They have recently connect forces with Amazon and this had open a lot more doors and customers (Capos, 1999-2014). As for now, shoes are extremely impor tant to people and fashion. It does not appear that Capos is at a high risk for a large decline in demand for their products.

Plantation Slavery in the Middle East

Plantation Slavery in Indian Ocean When topics such as African history and slavery are brought to mind, many American’s have a predetermined belief or idea on the subject. Such ideas may include that there is not much of African history until European presence, that African’s did not do anything of significance until the arrival of Europeans. Then, there are some beliefs that slavery was only a matter of American history. Both ideas are incorrect, in that there is plenty of evidence that points towards significant achievements in Africa before the arrival of Europeans and that slavery was a major part of Indian Ocean history. Slavery had existed in the Indian Ocean world far before Europeans captured and enforced slaves to work in agriculture plantations in America. In fact, many countries in the Indian Ocean world used slaves for manual labor. Although the manual labor is similar to that of plantations in America there are great differences between the two. Manual labor may be the sole reason for wealth and prosperity of the countries in the Indian Ocean world. Some countries in the Indian Ocean world that were under development became prosperous and powerful due to the cruel and harsh labor of slaves. Slavery around the world dates back before the eighteenth century but slavery in the Indian Ocean world begins around the eighteenth century. According to Eduardo Medeiros in his article â€Å"Contribution of the Mozambican Diaspora in the Development of Cultural Identities on the Indian Ocean Islands† he states that, â€Å"Starting about 1720, thousands of Africans were kidnapped from their original social groups and transported to the more important islands of the Indian Ocean† (pg. 5). These slaves were transported by ships, in which they were typically stuffed into the ship with nothing to sleep on but the cold wood beneath their feet. Such treatment was bound to cause slaves to rebel or fight as Medeiros states, â€Å"’Rebellion was a constant danger to the slaver’ at sea, and a permanent peril in the fields at their destination† (pg. 58). One such rebellion was legendary in the region of the Indian Ocean was that of a man named Bororo. Bororo’s enslaved ship was set to sail from Mozambique to Mauritius carrying 237 slaves. Bororo signaled for the uprising to begin, in which Bororo attempted to attack the pilot of the ship, Captain Le Bel,while the other slaves grabbed whatever was nearby as a weapon and commenced to destroy the ship. Le Bel freed himself of Bororo’s attacks, fled to his quarters, grabbed his sword and was able to contain the riot shortly. And â€Å"Soon after, 23, of the most energetic men had been put in chains and the rest tied with ropes. He then, wanted to know who had been the leader of the uprising and Bororo volunteered to admit the responsibility† (pg. 58). The Captain soon realized the size of his crew was outnumbered by the slaves and as such he commanded for Bororo who â€Å"was tied to the foremast’s top and was shot in the presence of the remaining slaves. His body was thrown to the sea† (pg. 59). Transportation of slaves was so sever and harsh that rebellion, although slim in success, was worth more than enslavement. Other times rebellious acts such as suicide were acts of religious beliefs. Africans from Malagasy â€Å"believed that at death, when the soul departed, the body would return not to God, but to the place of birth where a new existence would begin under another form† (Medeiros pg. 73). Such a belief was so strongly felt among these people that it would persuade them to commit suicide by jumping into the sea. Slaves were transported to islands such as Reunion, Seychelles, Macarenes, and Chagos. Their labor work was needed for agriculture plantations. According to Alpers, the commencement of plantations of indigo and coffee – soon after to be replaced by sugar cane in the Masacarenhas islands – date coconut, and clove in Zanzibar and Pemba islands, grain in the Kenya coast, date in the Persian Gulf, as well as building of ports and urban development in Arabia, underwater harvest of oysters for pearls in the Red sea and Persian Gulf, cultivation of grain in Madagasca r and Somalia’s Littoral, and the political expansion and consolidation in Yemen and Oman contributed greatly to the demand of a large quantity of African labor force in the 18th and 19thcenturies† (Medeiros pg. 6). Without such a â€Å"large quantity of African labor force† as Medeiros says, prosperity among such islands would not have reached such potentials. Such demands for large quantities of labor force reached numbers as Gwyn Campbell author of â€Å"The Structure of Slavery in Indian Ocean Africa and Asia says numbers climbed, â€Å"from 33,031 in 1765 to more than 93,000 by the late 1790s,† (Campbell pg 34). But such intense labor and transportation of slavery was bound to create multiple kinds of rebellion amongst slaves. In conclusion, slavery in the Indian Ocean world was one that contained brutal, severe, and sometimes deadly conditions. Beginning with their means of transportation, slaves were treated as monsters as such given the icy ground to sleep on during transportation. Such conditions would cause anyone to desire escape. Flight was not only numerous during the slave trade in the Indian Ocean world but it had many classes or levels of complexity. Whether it be simple rebellion from no longer wanting to work in the fields of plantation or whether it is an attempt to form a small community in which runaways could survive in, flight allowed for slaves to interrupt the systematic nature of the slave trade structure. Interruption such as these would also cost the region loss in financial stability. Such interruption would also eventually lead to the demise and extinction of the slave trade in the Indian Ocean world although it took more than rebellious acts such as flight. Although many attempts were set to extinguish the fire of slavery, slavery would officially end in the Indian Ocean world by the end of the 19thcentury. Such attempts were disproved by simply disregarding treaties, or discovering different alternatives in the treaties. Many regions would effortlessly change the title of slave to â€Å"contract labor† in an attempt to overcome the system. Nevertheless, slavery in the Indian Ocean world came to an official conclusion in the end of the 19th century. With the end of slavery there was a large shortage in the need for manual agricultural plantation labor. With such a shortage the Indian Ocean world lacked an edge in the economic race to achieve success this was due partly because of former slaves no longer compliant to the diminutive amount of compensation as they began consider other occupations. Yet after slavery was officially abolished in the Indian Ocean world, there were still discriminatory and inequality issues that needed to be faced head on. After years of violence, equality is still an issue that has yet to have been reached in many regions of the Indian Ocean world. Sources: Alpers, Edward A. , Gwyn Campbell, and Michael Salman. Resisting Bondage in Indian Ocean Africa and Asia. Routledge studies in slave and post-slave societies and cultures, 2. London: Routledge, 2007. Alpers, E. â€Å"Flight to Freedom: Escape from Slavery among bonded Africans in the Indian Ocean World, c. 1750-1962. † In Alpers, E. , Gwyn Campbell. And Michael Salman (eds), Slavery and Resistance in Africa and Asia. London: Routledge (2005), 51-67. Campbell, Gwyn. The Structure of Slavery in Indian Ocean Africa and Asia. Studies in slave and post-slave societies and cultures. London: Frank Cass, 2004. Hintjens, Helen. â€Å"From French Slaves to Citizens: The African Diaspora in the Reunion Island. In Jayasuria, Shihan and Richard Pankhurst (eds), The African Diapsora in the Indian Ocean. New Jersey: Africa World Press, 2003, 99-122. Medeiros, Eduardo. â€Å"Contribution of the Mozambican Diaspora in the Development of Cultural Identities in the Indian Ocean Islands. In Jayasuriya, Shihan and Richard Pankhurst (eds), The African Diaspora in the Indian Ocean. New Jersey: Africa World Press 2003, 53-80. Scarr, Deryck. Slaving and Slavery in the Indian Ocean. New York: St. Martin's Press, 1998.

Fi515

Final Exam Page 1 1. (TCO A) Which of the following does NOT always increase a company's market value? (Points : 5) Increasing the expected growth rate of sales Increasing the expected operating profitability (NOPAT/Sales) Decreasing the capital requirements (Capital/Sales) Decreasing the weighted average cost of capital Increasing the expected rate of return on invested capital| 2. (TCO F) Which of the following statements is correct? (Points : 5) For a project with normal cash flows, any change in the WACC will change both the NPV and the IRR.To find the MIRR, we first compound cash flows at the regular IRR to find the TV, and then we discount the TV at the WACC to find the PV. The NPV and IRR methods both assume that cash flows can be reinvested at the WACC. However, the MIRR method assumes reinvestment at the MIRR itself. If two projects have the same cost, and if their NPV profiles cross in the upper right quadrant, then the project with the higher IRR probably has more of its c ash flows coming in the later years.If two projects have the same cost, and if their NPV profiles cross in the upper right quadrant, then the project with the lower IRR probably has more of its cash flows coming in the later years. | 3. (TCO D) The Ramirez Company's last dividend was $1. 75. Its dividend growth rate is expected to be constant at 25% for 2 years, after which dividends are expected to grow at a rate of 6% forever. Its required return (rs) is 12%. What is the best estimate of the current stock price? a. $41. 58 b. $42. 64 c. $43. 71 d. $44. 80 e. $45. 92(Points : 20) | 4. TCO G) The ABC Corporation's budgeted monthly sales are $4,000. In the first month, 40% of its customers pay and take the 3% discount. The remaining 60% pay in the month following the sale and don't receive a discount. ABC's bad debts are very small and are excluded from this analysis. Purchases for next month's sales are constant each month at $2,000. Other payments for wages, rent, and taxes are con stant at $500 per month. Construct a single month's cash budget with the information given. What is the average cash gain or (loss) during a typical month for the ABC Corporation? (Points : 20) | 5. TCO G) Clayton Industries is planning its operations for next year, and Ronnie Clayton, the CEO, wants you to forecast the firm's additional funds needed (AFN). The firm is operating at full capacity. Data for use in your forecast are shown below. Based on the AFN equation, what is the AFN for the coming year? Dollars are in millions. Last year's sales = S0| $350| | Last year's accounts payable| $40| Sales growth rate = g| 30%| | Last year's notes payable| $50| Last year's total assets = A0*| $500| | Last year's accruals| $30| Last year's profit margin = PM| 5%| | Target payout ratio| 60%| a. $102. b. $108. 2 c. $113. 9 d. $119. 9 e. $125. 9 (Points : 30) | | Final Exam Page 2 1. (TCO H) Desai Inc. has the following data, in thousands. Assuming a 365-day year, what is the firm's cash con version cycle? Annual sales = Annual cost of goods sold = Inventory = Accounts receivable = Accounts payable =| $45,000 $30,000 $4,500 $1,800 $2,500| a. 28 days b. 32 days c. 35 days d. 39 days e. 43 days (Points : 30) | 2. (TCO C) A firm buys on terms of 2/8, net 45 days, it does not take discounts, and it actually pays after 58 days. What is the effective annual percentage cost of its nonfree trade credit? Use a 365-day year. ) a. 14. 34% b. 15. 10% c. 15. 89% d. 16. 69% e. 17. 52%(Points : 30) | 3. (TCO E) Daves Inc. recently hired you as a consultant to estimate the company's WACC. You have obtained the following information. (1) The firm's noncallable bonds mature in 20 years, have an 8. 00% annual coupon, a par value of $1,000, and a market price of $1,050. 00. (2) The company's tax rate is 40%. (3) The risk-free rate is 4. 50%, the market risk premium is 5. 50%, and the stock's beta is 1. 20. (4) The target capital structure consists of 35% debt and the balance is common equi ty.The firm uses the CAPM to estimate the cost of common stock, and it does not expect to issue any new shares. What is its WACC? a. 7. 16% b. 7. 54% c. 7. 93% d. 8. 35% e. 8. 79%(Points : 30) | 4. (TCO B) Leak Inc. forecasts the free cash flows (in millions) shown below. If the weighted average cost of capital is 11% and FCF is expected to grow at a rate of 5% after Year 2, what is the Year 0 value of operations, in millions? Assume that the ROIC is expected to remain constant in Year 2 and beyond (and do not make any half-year adjustments). Year: 1 2 Free cash flow: -$50 $100 a. $1,456 b. 1,529 c. $1,606 d. $1,686 e. $1,770(Points : 35) | 5. (TCO G) Based on the corporate valuation model, Hunsader's value of operations is $300 million. The balance sheet shows $20 million of short-term investments that are unrelated to operations, $50 million of accounts payable, $90 million of notes payable, $30 million of long-term debt, $40 million of preferred stock, and $100 million of common equity. The company has 10 million shares of stock outstanding. What is the best estimate of the stock's price per share? a. $13. 72 b. $14. 44 c. $15. 20 d. $16. 00 e. $16. 80(Points : 35) | |