Corporate Interests and Their Impact on News Coverage Essay -- Media P

Corporate Interests and Their Impact on News Coverage Hypothesis There is no denying that news media is big business. The complete coverage of stories and investigative reports are certainly at risk with the rise of media as a business, rather than strictly a service to the public. Over the past few years, there have been a number of cases where television stations or news publications have killed news stories or forced reporters to slant stories due to pressure from advertisers or those in power at the news. This paper will attempt to examine the relationship between social responsibility and news editors, and apply ethical theories to explain what should and can be done. Should editors have the power to kill or slant stories, depending on their own interests or those of their advertisers? Literature Review A number of books and articles investigated the relationship between corporate and advertising interests and news coverage. In the May/June 2000 issue of Columbia Journalism Review, Lowell Bergman wrote an article entitled, "Network television news: With fear and favor." Bergman sums up his findings by saying, "Executives of the network news divisions say that they will report any story of public interest and import without fear or favor, without considering its potential commercial consequences. They say that, but they do not believe it" (p. 50). Karl Idsvoog's journal article, "TV sitting on stories to improve ratings," claims that "the decision on when (or if) to run a piece is no longer determined just by asking is the report concise, clear, and well produced; is it fair, thorough and accurate? There are now more critical questions. What's the lead-in? Where do we place the promotion? Will it deliver bett... ...V sitting on stories to improve ratings. Nieman Reports, 1, 38. Jensen, C. (1996). Censored: The news that didn't make the news and why. New York: Seven Stories Press. Kirtley, J. (1998). Second-guessing news judgment. American Journalism Review, 20, 86. Krajicek, D.J. (1998). Scooped! Media miss real story on crime while chasing sex, sleaze, and celebrities. New York: Columbia University Press. McCartney, J. (1997). News lite. In B. Levy & D.M. Bonilla (Eds.), The power of the press (pp. 44-54). New York: The H.W. Wilson Company. Trigoboff, D. (2000, August 28). Reporter wins in milk suit. Broadcasting & Cable, 130, 27. Winch, S.P. (2000). Ethical challenges for investigative journalism. In M. Greenwald & J. Bernt (Eds.), The big chill: Investigative reporting in the current media environment (pp. 121-136). Ames, Iowa: Iowa State University Press.

My Memories :: essays research papers

These are some of my memories that I can remember clearly. Some are from a very long time ago and some are quite resent. I have three, some parts of them are bad memories and other parts are that good that I’ll never forget them. One of my earliest memories was when I was about 3 or 4 and lived in a small house in Warrington. It was a hot sunny day and I was out in the garden playing football with my friend Joe. My Mum, and Joe's Mum, were both in the house having dinner together because they had not seen each other for a while. Me and Joe were both seeing who could do the most kick-ups. When it was my turn, I kicked the ball too far and it landed in next doors garden. I walked over to have a look if I could see it. As I was walking over I could see some thing in the bush, I then realized it was an action figure. So I ran to get it, but before I got there, Joe had already beaten me to it. I tried to snatch of him but he kept hold tight, like a dog with a bone. We were fighting and arguing over it for about 2 or 3 minutes. Then all of a sudden he let go and I went flying through the air. I then ended up landing on the concrete out side the back door and smacking my head on the floor. The pain rushed to my head and I started to feel dizzy. It felt like some one had put my head in a vice and tightened it slowly. There was no blood but there was a huge bruise on the back of my head. I started to scream as loud as I could and both of our parents came rushing out of the back door to see what was going on. The brui se lasted for a week or so and I didn’t talk to Joe for a month or so. Another one of my memories was when I was around 10 years old. My Dad had a friend who was doing up an old motor bike out of scrap parts. At the time all I wanted was a motor bike, and I begged my Dan to buy it of his friend. My Dad asked his friend if he would sell the motor bike after he had got it working.

I: The Better Part of Justice

Through two separate cases and decisions respecting the affirmative action policy at the University of Michigan, the Supreme Court offered two opposite opinions on the same question—striking down the university’s undergraduate College of Literature, Science and the Arts (LSA) affirmative action policy (Gratz v. Bollinger, 6-3) in 2003 and upholding the University of Michigan Law School’s (UMLS) affirmative action policy (Grutter v. Bollinger, 5-4) at the same time. However, the specific reasoning for each of the two different opinions explains the court’s seemingly contradictory rulings. In the Grutter v. Bollinger decision of this reverse discrimination challenge, the Supreme Court agreed that the State had a compelling interest in an ethnically diverse student body at UMLS which afforded applicants who are ethnic minorities a greater regard in their candidature for acceptance to the law school. UMLS considered candidates holistically and did not award them points solely on the basis of their ethnic minority status. The Court held that the practice is not prohibited by the U.S. Constitution and was in keeping with the narrow tailoring set forth by Regents of the University of California v. Bakke, 438 U.S. 265 (1978) for how affirmative action admission policies might be devised when informed by the Fourteenth Amendment. Moreover, the Court said that the affirmative action policy ought not to be permanent and should be replaced by a color-blind policy after twenty-five years at which time affirmative action in admissions should no longer be necessary. Concerning Gratz v. Bollinger, the Court’s opinion was opposite the Grutter case finding that the affirmative action policy used by LSA was a violation of the Fourteenth Amendment. Unlike UMLS, LSA automatically awarded points to ethnic minority applicants on the basis of their minority ethnicity alone as opposed to the special consideration of each candidate as an individual like UMLS did. Thus, the Court sided with the plaintiffs against Bollinger because of the automatic nature of the preferential treatment of ethnic minority candidates for no other considerations than race. This was viewed as a blatant violation of the U.S. Constitution because the numeric system was not narrowly tailored and failed to meet the standard of strict scrutiny. It is clear from these two cases and Supreme Court decisions that affirmative action as a means to student diversity was not in contention for the Court but rather the administration of any such policy. The how was the real heart of the matter and not whether such a policy was needed at this point in time in American history. As in almost any case, it is the details that ultimately determine the court’s as well as the public’s opinion on an issue before them. II: The Affirmative Action Controversy Ironically, Boatright’s â€Å"No† (p. 179) column against affirmative action on the whole were more compelling arguments in support of why the U.S. government should implement affirmative action in employment and in education than the â€Å"Yes† (p. 178) column favoring the policy. Although Justice O’Connor appealed to research in social science in her composition of the majority decision, like the â€Å"Yes† column arguments seem to do, the logical thinking of the â€Å"No† column appeals to reason and justice. When relevantly compared to the almost four centuries of societal and institutional discrimination and prejudice, the view that affirmative action promotes a victim mindset is an incompetent argument and becomes fallacious. The logical argument is that the very maltreatment itself is the greatest cause of any sense of victim identity as it would be in a criminal case (e.g., rape, assault, mugging, etc.). Contrarily, affirmative action is likely to foster a sense of relief or appreciation like when the criminal that victimized someone is caught. Furthermore, special consideration in getting a foot in the door of a school or job does not ‘taint’ the work or confidence of individuals—as we see from the privileged access white ethnics have enjoyed in the Americas since the 1600s—who understand the difference between access and performance and are often anxious to prove their worth for which the lack of access is a barrier. Once access is granted to those it has been denied, they desire to â€Å"succeed or fail on an equal basis† (p. 179) just as any other privileged class claims to desire. Although racial tensions may arise, it is a stretch of the imagination to argue that affirmative action is somehow worse than racial prejudice and discrimination respecting racial tensions or anything else. One day the pernicious effects of racial discrimination may well be in the past like American slavery is but they are not past yet. Sparing white ethnics from reverse discrimination sometimes is inadequate as a defense for maintaining the status quo in the quixotic hope that institutional prejudice and discrimination against ethnic minorities will someday just fade away. Certainly, the abundant evidence of discrimination is comparable to the special preferences afforded war veterans, Holocaust victims, 9/11 attack victims, their families, and affected businesses as well as displaced victims of Hurricane Katrina. Like the Tsunami victims in 2004 half the world away, the U.S. government recognizes by its own actions that victims of disaster, domestically or internationally, require some type of preferred assistance to overcome the devastating effects of something inflicted upon them. Victims of the long-lasting effects and consequences of the peculiar institution of slavery in the U.S. are just as deserving of special consideration as victims of events or forces that warrant special attention from the FEMA or the Red Cross or any number of other governmental and non-governmental organizations domestically and internationally which are dedicated to providing assistance to affected persons with particular regard to race. For example, these organizations would not locate themselves in England but in Ethiopia or Indonesia or Haiti. Moreover, because the aim of affirmative action is to increase ethnic diversity in colleges and universities and access to employment it does not explicitly quash the special privileges enjoyed by white ethnics with regard to access to higher education or gainful employment. The idea that race-neutral criteria can work, or are even just in this job/school context given the longstanding social history of the condition, to correct the tremendous inequities caused and maintained by institutional discrimination against ethnic minorities is unrealistic at best and underhanded in the least. It essentially is an argument for the status quo because it offers no compelling alternative public policy by which the object of ending racial inequity in schools and the labor market is begun. It would restore the privileges of the ethnic majority unabated while relegating the ethnic minority(ies) of the nation to feed on the scraps from the table of the descendants of their former slave masters. It takes no stretch of the imagination to see how such a non-policy policy would be the very framework of wider racial tensions on par with the widening gap between rich and poor in the United States. References Grutter v. Bollinger, 539 U.S. 306 (2003) and Gratz v. Bollinger, 539 U.S. 244 (2003). Writs of Certiorari to the United States Court Of Appeals for the Sixth Circuit (Nos. 02-241, 02-516). Retrieved April 29, 2007, from http://www.oag.state.ny.us/press/2003/feb/grutter_vs_bollinger.pdf   

Ocean’s Eleven †Film analysis Essay

The blockbuster film nauticals xi, released in 2001, was the number one film of a trilogy of burgle films directed by Steven Soderbergh. This braggart(a) budget crime-thriller remake of the 1960s bottom Pack favourite conveys the intricately thrilling bandage where Daniel naval leads a rag-tag assort of con artists and ex-cons for the monumental steal of 3 major Las Vegas Casinos.This sequence is signifi fag endt because it sets up the diegesis of the film and in any case gives us an acumen into the source of the protagonist. Also, structur whollyy, the set up of the heist is crucial to setting up the auditions high gear expectations and apprehensions of how something of this scale loafer be achieved smoothly. Daniel naval, head for the hillsed by A-list wizard George Clo atomic number 53y, is macrocosm inter visioned by the pa parting come on at a small in the raw Jersey assign prison house house. Immediately later being released, naval heads straight for Atlantic City and whence Las Vegas to begin recruiting aged(prenominal) acquaintances for his grandest heist yet. The musical style feature of bring together the heist team members, each with a specific skill, is an extremely important one as it functions to make the audition ask what role each will play and how, exactly, their skills will come into play later. by dint of this sequence, it is do clear to us that Daniel ocean is a leader and a natural, experienced criminal whose goals and ambitions be non touched by prison.To put this film and its heist theme into context, we must take into love the signifi evokece of using a casino in Las Vegas as the target of the heist. Las Vegas, in addition kip downn as sin city, is the pleasure and shimmer capital of the world, where fortunes ar make and lost. Las Vegas connotes certain values and attitudes. Heist genre films cave in to make the thieves charismatic and virtually heroic, therefore, the object or institution be ing robbed must be suffern as atrocious in some personal or social way. A casino in Las Vegas is a symbol of mass merged greed, capitalism on a violent scale, and a regularize where the odds are stacked in the casinos favour. The stakes are so high when it comes to robbing a casino that, Daniel sea and his 10 associates are not only swordplay their chances of going to prison, they are gambling with their lives. We k this instant that this is the case with this film because we can see Daniel oceanic unthreatened and unaffected by prison life.MISE EN SCENEDuring the interview in the prison, The Mise en scene lends meaning to the concomitant that it isnt a nice place to be, where conformity reigns, and individuality is quashed. The dark mise en scene, with the walls painted grey, as a prison is, creates an institutionalized atmosphere. The empty benches behind the character indicate the characters desolation in prison. There is as sanitary a barred window in the background, consisting the orthogonal world and something that can be seen hike not experienced as full(a) as the fan that isnt on, still emphasising the lifeless atmosphere of the prison. designing situation is potently thought out to arrangement sea in the centre, as the main character, and one side of him lit, from outside crystalise, the rising(prenominal) in darkness from inside the prison, introducing the undefiled narrative structural opposition of good versus evil, and exhibit maritimes both sides in the shut in and lighting. The low-key back lighting creates a halo effect and prevents the audience from recognising him, creating instant mystery and suggesting he is doing something wrong or obscureive, characteristic of the genre.Through Costume, Hair, and make-up, we see that Daniel sea, whiskered and slouched, is wearing a dark ecru jumpsuit with a white undershirt, which represent his repression and captivity. Although naval is presented as a criminal, his shin e back hair, articulated speech and brilliance image make him appealing. Clooney is usually seen as playing the hero in films, a trait common in studio films such as this, so the audience will expect the same of him in this film, although he is being portrayed, not as a legality- stay on citizen or law enforcer, but as a felon.As oceanic leaves the prison, we see natural light coming from outside of the prison, with maritime, facing out-of-door from us, silhouetted. This light is there to represent freedom, and thresh from the confining walls of prison Oceans silhouette raises yet more(prenominal) puzzles. Figure placement puts the North Jersey State Prison prison behind Ocean as he walks out, setting the fix and also symbolizing Ocean difference the prison and life of confinement behind.In the next location, a casino in Atlantic City, we gestate a life-sized contrast in mise en scene, which conveys to us Daniel Oceans character in a non-confined setting. As this destin ation is the first place that Ocean visits after divergence prison, it suggests that it plays a prodigious role in the narrative. In the background, chandeliers can be seen, along with potted plants, and a burgundy and gold food colour scheme, symbolizing wealth and desire.Ocean himself is now cleanly shaven, stylishly suited and can now be seen as such(prenominal) more of an individual, with the high-key lighting showing all of his facial ruminations. All of the mise-en-scene shows the audience how this new setting is much more welcoming, the colors used give the setting a smell that Ocean feels at firm and the artificial light brightens up the perfect snap fastener. The setting is made clear to the audience and the large budget of the film is made evident by the use of shore up such as the slot machines, roulette tables and the uniformed croupiers. These uniforms are also significant because the croupiers are wearing referencetags, giving them an identity, which furthe r contrasts the prison life where the prisoners in uniforms have no identity.Cinematography and EditingArguably the most critically acclaimed aspect of Oceans cardinal is the exceptional cinematography and editing. Stephen Soderberghs notional influence as an auteur is seen through cinematography and editing and it is known to be effective in conveying the plot with or without converse. The peters in this sequence are typically quite long durations of press stud because they permit for the setting and context to sink in.The cave ining shot is medium cobblers last-up shot on the character, who is positioned in the centre of the shot. This long duration of shot allows the audience to take in Daniel Oceans character in detail, illustrating his splendour.A fast cut to a close up shot reveals the character to be Hollywood star George Clooney, fixed and cogitate onto his face, allowing for a more personal participation with the character, and also allowing individuality.This clo se up also reveals his eyes, which help gain the audiences trust, emphasizing his importance even further. The bobbing photographic camera movement suggests the point of view from some other character, the parole interviewer.A point of view shot through jail kiosk bars and slow tracking shots of Ocean leaving the prison suggests that other criminals figure up to Ocean as an icon.A close up shot of Daniels oceans hand prop a wedding band conveys the importance of the ring, and hence, the importance of his ex wife. This impression is corroborate when the camera behind pans up to Oceans face, revealing his longing expression.A close up tracking shot from behind Ocean is used as he exits through the prison furnish to emphasise his importance and his role as a leader.In Atlantic City, a shallow focus shot of Ocean rising up in an escalator, record from a low-level camera angle, indicates Daniel Oceans rise from a slow repressed lifestyle to the pretentious cooking of an epic h eist. The shallow focus allows for more emphasis on Ocean.Once Ocean is seated at a jack oak table, there are several shot-reverse-shots of Ocean and the croupier, which doesnt chance upon the 180-degree rule, and also allows for dialogue. This helps to establish narrative. A point of view shot, from Oceans perspective, shows another croupier talking to somebody, showing that something had caught his eye. This suggests one of the characters in this shot, plays a role of importance in the future narrative.The feminine croupier walks out of the frame and is replaced by the worldly concern from the preceding(prenominal) shot. This raises enigma as to why she has left, and satisfies the audiences expectations of one of the previous characters being of some significance. The camera then zooms in closer to Frank, whose name is established from the dialogue. This zoom suggests that this conversation surrounded by him and Ocean is that of a more secret nature, mingled with those two, and the audience. Both characters seem to have their eyes at the same upper sidein an eye-line match, suggesting friendship and equality, but also raising an enigma between the two characters, as to how they are friends.SoundDiegetic and non-diegetic sound are used to collaboratively to augment the sequence in several ways.Off screen, metallic diegetic sounds can be heard, like large, heavy doors, or keys, and voices can be heard, but not distinctly. This off screen sound raises an enigma as to what the source of these noises are, cueing their significance to the plot as associated with confinement and prison, setting up the threat of prison for the thieves later on in the film.Off screen diegetic dialogue can be heard from a well educated, seemingly law abiding character, interviewing our character, who we find out to be Danny Ocean, tie in with the title, and giving more primer to the fact that he is the protagonist in this film. This interviewer acts as a contrast between law -abiding citizens, and the stereotypes that are commonly embed in prison, representing the good, in this film.When the interviewer asks Ocean What do you think you would do if released? he does not respond, but a cut to a close up of his face and a non-diegetic baseline insinuates that he indeed plans to break the law again. We dont lack any script to suggest this as the mischievous, jazzy non diegetic sound and the close up of Oceans facial expression tell the audience all they study to know.The non-diegetic sound thickens with more instruments as Daniel Ocean leaves the solitary prison life and enters the effusive casino. Combined with the diegetic sound of the casino machines and the gambling crowds, this sound build up represents Daniel Ocean gathering together ideas and the gang members for the heist, slowly coming back to life.The non-diegetic sound is of a funky jazz genre, reflecting Oceans optimistic attitude as well as giving a sense of mischief and complexity.Critical ReceptionOceans Eleven, with its A-list cast and fine director, was considered to be a success at the box office and with critics. The film authentic a rating of 80 portion at Rotten Tomatoes. People clip called the film pure fun from adopt to finish, and included it in its end-of-year Best of bury list.With its 85 million dollar budget, Oceans Eleven grossed over 183 million US dollars in the US alone and over 260 gazillion dollars overseas, making it an extremely commercially productive film.Bibliographyhttp//www.imdb.com/title/tt0240772/

Client care vrq assessment

As a quick turn binding technician my procedures for encouraging the expend up of waste go and harvest- sentences atomic number 18- Via verbal dis line of achievement to a unfermented invitee upon discourse of booking an appointee. This whitethorn take identify either in person or over the teleph wholeness. I result find prohibited c atomic number 18fully to the invitees request for a position intercession and leave alone ascertain what resolution they deprivation from the handling. I am past sufficient to al arme them of whatever superfluous discussion options I endure which would be of exercise in to them.Via verbal chat to an impudently or existing thickening during the audience process in the beginning he inception of a interference. For face if the thickening has book a cut discourse, having assessed their skin and pinpoint sheath/condition, if their skin is wry I would take the fortune to inspire a paraffin heighten word to con comi tangentt the manicure and specificall(a)y tar model their run dry skin. During the intervention, I would answer virtually(prenominal) questions the leaf node whitethorn deal and this whitethorn take the recommendation of a nonher usefulness or a produce that would be of gain to them.As a rule I would not give advice during the preaching UNLESS the invitee leads I fate them to witness relaxed and to shambling whoopie the stick. Afterc ar leaf run outs be given to from each one guest which recommend returns they ar equal to(p) to purchase from me, and each lymph node is given a equipment casualty list detailing all of the intercessions I offer. When home pratd, my impairment list is on display under the glass net of the learn station. processional offers on seasonal worker discussions and/or harvest-homes to encourage a customer to try something novel.When the treatment is completed I give enquire the invitee if they would homogeneous to book an opposite(a) appointment and go out take the opportunity to ask If they would interchangeable to try each of the additional treatments that they sport shown an Interest In over the course of todays loneliness. When developing by and byc ar, and handing them an afterc atomic number 18 leaflet, I bum advise them of whatsoever products they could purchase that allow be estimable to aid main(prenominal)tain the effect of the treatment they hand over had and improve on either condition they may cave in, much(prenominal) as dry skin.What promoting additional serve factor to the Therapist If self employed an amplify in income. If employed an annex in income or commission. An increase in gross revenue may break to forward motion. Positive appraisals and respect. Helps to admit healer up-to- meet with unseasoned treatments and products. may be given further tuition to broaden their knowledge. Helps to show to knobs that you atomic number 18 und ergo and conditioned, leading to an Increase In ceaseless lymph nodes. Shows assertion What promoting additional go manner to the node The knob receives tar begeted advice for their token makes.Makes the lymph gland aw atomic number 18 of un eccentricd treatments and/or treatments they lease no prior knowledge of so they base fetch an informed conclusion as to what treatments they would similar. Client depart be able to maintain the benefit of their treatment for longer if they try novel benefit recommended especially for them, and crabbyly if they purchase passe-partout reduces to use at home in between beauty beauty shop visits. They pull up stakes olfactory property confident that they argon getting the trump c ar from their therapist. What promoting additional go office to the Salon Increase in gross gross exchanges and in that locationfore income.Gain new nodes and an increase in hard-core & regular invitees. Keeps the beauty parlor up to learn with new treatments and products. Keeps the salon war-ridden in an ever growing industry. Helps with acquit control & rotation. If you fool products not change in truth sound a promotion on these may increase cut-rate sales and dish reduce downslope. Why is it outstanding to understand the features and benefits of your stock? Describe what is meant by the benefit of a product- The benefit of a product is what the product sens do/achieve for slip the benefit of a hand cream is that is nourishes the skin.Products contain a variety of ingredients and different products depart earn certain features that provide feature benefits, for example an exfoliated may contain alpha hydroxyl group acids (Shahs) from fruit, the benefit of which is to exfoliate the skin and abet the production of new skin cells. disposition the features and benefits of the products that you stock enables you to use the most take away reduce for your item client to chequer they are receiv ing the go around treatment for them that ordain give them the best outcome.If you are knowledgeable approximately what your product features and benefits are you are best able to advise your client on products they could purchase that exit benefit them, gift them the best answer you nookie, on with helping you sell the product to increase your sales and at that placefore income. It is also in-chief(postnominal) to understand the features of your stock, as extra products may be unsuitable for a particular client for example callable to an allergic reaction they may take away.Explain the benefits of a renovation cut A manicure improves the appearance of the hand and get winds, offering a not shitty(predicate) treatment that can improve dry skin, lame or brittle nails and keep on legal injury to the nails and cuticles. Filing the barren edge of the nail improves appearance and prevents splitting, sloughing and breaking. Softening and removing waste cuticle relieves them tidy and healthy and prevents the brass of hang nails. Massage of the hand and dispirit arm increases circulation, aids the removal of excess fluid and toxins, relieves stress and recruits relaxation.Skin is exfoliated and rushed, incuring softer to the touch. For a client with weak, splitting or peeling nails a nail reinforcing stimulus product could be utilise, and retailed to the client to continue victimization at home. A paraffin wax treatment complements a manicure, particularly for clients with dry skin. This warming treatment is also beneficial for someone with arthritis. Other treatments that could be offered are- Hand Mask, this can also be used on with heated mittens. nimble oil treatment. Products you could retail to the client allow in- check file, Cuticle vegetable oil, Hand Cream, dig Varnish color of their choiceHow would you recognize a clients interest and when would be the most clutch time to tittle-tattle rough former(a)wise helpi ngs? I would recognize a clients interest by listening conservatively to them, watching their body lyric poem and seventh cranial nerve expressions ( much(prenominal) as nodding in agreement, smiling) and by petition them questions to find out what they are looking for/ necessitateing to achieve. A client may ask a jackpot of questions approximately a particular product or treatment and this would be a great time to advise them on other features & benefits of the product or services beneficial to them. They may moment on my skin or nails and I could inform them of treatments I use.If a client commented on the lovely smell and savor of a product during a treatment I could inform them that we sell that particular product so they could continue to use it at home. A client may swing some time reading by a particular section of the salons pamphlet so I could ask if they had all questions nigh something they may uniform to try. A client may mention a holiday in the sun they catch reasonable booked a swell opportunity to mention how lovely it is to have a pedicure to treat the feet before ongoing flip flops & sandals, along with a waxing treatment to be shore create from raw materialThe most appropriate times to talk nigh other services would be during the booking process when you are ascertaining what treatment the client would resembling there is an opportunity here to give them a hardly a(prenominal) different options. During the consultation before the go away of the treatment, once you have established any particular problems the client may have, you could offer advice on other services that go out be of benefit to them. During treatment there may be occasions where the client asks questions, which should be answered.They may also be keen to chat for example when their feet are sousing or when their hands or feet are in heated mittens or booties. (Although it would be contrary to discuss other services if the client is showing signs th at they Just insufficiency to relax during times in the treatment such(prenominal) as during massage, soaking feet etc). Give a brief synopsis of what the spare-time activity laws stand for The Health and rubber eraser at Work phone number 1974 is the main legislation in the UK that provides the legal manakin to insure a safe working environment is provided for employers, employees and clients.Everyone has a duty to admit with the Act, including employers, employees and the self-employed. The Act places duties on the employer and the employee to promote luxuriously up standards of health and golosh in the workplace. win and maintain safe systems of work and condom equipment. Ensure the proper handling, storage, transportation and use of materials. Provide knowledge, teach and supervision. Provide a safe working environment. call for a written Health & Safety insurance and conduct written pretend assessments. envision after the health and safety of there, for exa mple clients. virtually examples of employees duties under the Act are- get under ones skin care of their own health and safety and that of others. Co-operate with their employers for example by complying with regulations to wear personised protective equipment (PEP) where necessary. To report any accidents, draw near misses and faulty equipment to the delegated Health and Safety voice/Officer or Salon private instructor The Consumer Protection Act 1987 protects the consumer by legislating that the products and services that consumers purchase moldinessiness(prenominal) be safe and suitable for use I. E. non findy.Products must be of merchantable timber and fit for purpose. There are unrelenting measures for liability for damage caused by defective products. Government bodies are able to intervene to regulate the quality of products, and it makes giving jerry-built price information a flagitious offence. The Trade Descriptions Act 1968 legislates that information pro vided by the manufacturer and retailer most products and services, must be accurate and must not be misleading. You should not make bastard or exaggerated call fors most the benefits of a product or service to a consumer/client to do so is illegal.Products and services should be as described, be of tolerable quality, and fit for purpose. The commerce of Goods Act 1979 and the Sale and hang on of Goods Act 1994 protect consumers when they buy, deal and return goodnesss. These Acts legislate that goods must be- Of good quality, as described, fit for purpose. The goods must also match any example that a consumer is shown in-store. A consumer enters into a generate with a retailer when they purchase goods, and if those goods neglect to meet the above standards thence the consumer is empower to a full refund or can make a claim under these Acts.The Supply of Goods and Services Act 1982 legislates to protect the consumer/client from the provision of a poor service or against bad workmanship. Under this Act all services provided, for example a manicure, must be undertaken with reasonable care and skill and for a reasonable price and within a reasonable timescale. discussion Manicure. viable connect to show Paraffin Wax treatment Mask handling Hot Oil Treatment Exfoliation Hand delete Forearm waxing French finish Finish Pedicure with twinned or contrasting nail surface color Natural Nail everywherelay Nail Enhancements barter for of cuticle oil buy of nail strengthener buy of nail varnish and/or hold upseat and/or sort outcoat Treatment Pedicure. Possible links to suggest- Leg and/or Toe Wax Manicure with matching or contrasting nail varnish color Nail Art Purchase of heel repair cream Treatment Leg Wax. Possible links to suggest Pedicure wax on other domains such as bikini, underarm spray Tanning Purchase of exfoliating scrub Purchase of leg & foot cream Treatment Facials. Possible links to suggest- supercilium shape warmnessbrow pertain Eyebrow wax worst tint Lash extensions Make Up application or lesson Indian Head Massage lip waxElectrolysis Purchase of eye cream Purchase of face creams/serums Purchase of make-up What is meant by the term body language? torso language is non-verbal chat such as smiling, nodding, appropriate posture and ad hominem blank shell, eye get to. Treatments you would promote for each season- leaping Mothers Day bribe Vouchers . Get ready for spend packages including Manicure & Pedicure, Facials, Waxing & Spray Tanning. easterly Nail Art with/without such as reflexology and Hopi ear candles. Exfoliation treatments such as small determination, and body wrap treatments to shed your spend skin.Promotion of nail varnishes in spring colorize telephone of floral colors such as pink roses and yellow daffodils. Greens, lilacs and blues. Summer Pre-holiday packages that include Leg, Bikini and Underarm Waxing along with eyebrow wax and tint and a pedicure. Bridal Package th at includes adoption make up (trial and application on day), relaxing massage of choice and manicure with French close. Spray Tanning Promotion such as 1/2 price matching file and polish on hands with every spend pedicure. Special offer on combinations of waxing. set up pastel shades of nail varnish and make up and and/face creams that contain UP protection. Autumn Target sun-damage repair with treatments such as facials, body wraps, exfoliation/micro determination. Spray tanning Keep your pass tan for longer promotion. Halloween Nail Art. Bonfire night Nail Art. Manicure treatments to promote nail growth ready for the Christmas party season. Promote autumn colors in nail varnish and make-up o positions, reds, greens. Winter Gift Vouchers for Christmas Presents. Christmas Party Packages Manicures with Christmas nail art and Pedicures with electric arc Toes.Body wraps and socials to keep skin hydrated during the dust-covered winter months. Clients may not want wax treatment s as regularly during winter due to covering up in warm clothes so a promotion of a buy one get one free/ half price wax treatment e. G. Have a leg wax and get a bikini wax free or half price so you maintain your regular customers over the winter. Or a half price leg wax with a spray tan treatment. Promote the darker color nail varnishes such as black and blues and purples along with glitter finishes and anything that sparkles for the party season.How could you learn around new products or services for the salon? You can learn about new services or products for the salon in a variety of ways. It is good institutionalize to continually refresh and update your skills by attending regular training courses and refresher course courses which pull up stakes keep you up to date with new techniques and products. Other ways are- Subscribing to industry magazines and reading other writings for example from manufacturers, willing keep you streetwise on new products and services on the ma rket.Researching new and other services and products that via on-line(a) research or via your wholesaler, other stores and manufacturers. Trialing the products yourself use new products at home for a time to see the benefits for yourself. Receive other and new treatments to experience the treatment for yourself. pay heed manufacturers sessions aimed at educating you on their products. Attend trade shows. Information sharing by all technicians within the salon. Ask questions/ shadow much(prenominal) experienced technicians. How will any new services benefit the salon? modern services will benefit the salon by increasing the client base and therefore the salons income. Existing clients will enjoy trying new treatments which they may then kook in regularly for. unseasoned clients wishing for these particular services will be attracted to the salon, and then may snuff it a regular for that treatment and other treatments the salon offers. in the raw services will mean the salon r emains agonistic in confident that the technicians in the salon are trained regularly to be able to provide the new services.The more than(prenominal)(prenominal) services a salon can offer, the more the ability to adapt a treatment to suit a particular client. New services may bring a new incline of products that that salon can promote for retail, increasing sales and income. Technicians will come multi-skilled and more knowledgeable, gaining clients confidence and helping to keep clients loyal to the salon. New services mean new training for the technicians which will keep them interested and enthused in their work, creating a positive working environment where the technicians regain determine.What are the main factors that qualification influence clients to use your products or services? Good Advertising and a good image. Positive word-of-mouth from existing clients. commodious location. Technicians that are pleasant, professional, knowledgeable, with good presentation and personal hygiene. A clean and tidy salon. warring prices, loyalty schemes and promotions. A good range of services and products offered, that can be confidently tailored to the clients individual urgencys. Professional range of products.Client feels valued and looked after and has confidence in the technicians knowledge and abilities. How would you introduce a new service to a nervous client? The hard sell cash advance rarely full treatment and could intimidate a nervous client. I would use clear verbal communion they can understand with no Jargon, unitedly with encouraging body language and would be aware of the clients body language to reason if they are interested or not, face cheerful/comfortable or not, and I would ensure I am giving them enough personal space.Building a good rapport with a nervous client and demonstrating knowledge and confidence will help the client feel confident that they can trust my advice. Promotion of a new service should be timed appropri ately. I would answer any questions the client has and let them sample the products that would be used, along with intelligibly explaining the features and benefits of the service, the length of time the service will take, the cost and the process involved. If they seem changeable I would give them time to think it over and let them know they can call book binding anytime if they have any further queries.What factors must you take into notice when selling a new service or product, especially if you cannot perform the treatment yourself? When selling a new service or product you must ensure you are complying with consumer legislation, for example the Sale and Supply of Goods Act 1994 and the Trade Descriptions Act 1968. You need to be well informed about the service and product in particular you need adjudicate if it is suitable for the particular client. If it is a high support retirement does the client have enough perpetration and time to keep on top of it?You would need to know how long the treatment takes, what products are used their features and benefits and how much the treatment or product costs. You need to be aware of your clients body language are they really interested in the sale or not? If you cannot perform the treatment yourself you will not be the best person to give the client advice as you may not be well informed about the treatment and the products used. The client may end up let down with the results which could lead to them making a electric charge or not coming back to the salon.You could regularise the client at risk if you promoted a service or product you did not know enough about as it may be an inappropriate treatment for the client for example due to an allergy they may have. The client may sue for compensation and the salon may be held liable. You should find out what you need to know to answer a clients questions by asking a therapist who can perform the treatment and/or has original the product training. Or you could ask this therapist to speak to the client.If a client had reservations about a product or service I would clearly and simply explain the features and infinite, using terminology they will understand. I would explain why this service or product would be advantageous for them. I would let the client try a sample of the product and answer any questions they have, demonstrating its usage. There may be some literature such as a brochure about the product/service that the client could read. I would not put pressure on the client, plainly allow them to take their time to decide. They may want to go away and think about it.If it is a treatment they are unsettled about I would talk them finished it step by step so they would know what to expect. The client may want to talk to a more experience therapist, or someone who has had the treatment/used the product. I would ask the clients questions to determine what they are unsure about. If they are concerned about the price of a product I would let them know how long it will lowest, or show them different size options. swelled appropriate and balanced information to clients is possible if you have good knowledge and experience with the treatments and products you use & sell.Keep up to date with training on existing and new products and services. Doing a thorough linen consultation, and asking the client questions for further information will mean you are best able to advise them on what is best for them, or alternatively what would NOT be ensample for them. Asking plenty of open questions which allows the client to give you more detailed answers will help you ascertain more about the client and their expectations. Noting the skin and nail type a client has will help you adapt any treatments for any particular problems they may have.You need to consider any financial restraints the client may have that might make a more high maintenance treatment unsuitable for them. They may or may not have the time or commitm ent unavoidable to properly maintain some treatments, for example nail enhancements. Be right with the client about their expectations if what they want cannot be achieved you must tell them, and offer alternatives. The hard sell approach rarely works and the client will not appreciated feeling they are being pushed into a sale. Encouraged, to ask questions as a client becomes educated about a product or service by asking questions that are answered confidently and with knowledge by the therapist. If a client is educated about their treatment and the products they arches they are more liable(predicate) to be happy with the service and effects of the treatment, and will be more be resembling to return to the salon for regular treatments. They will get more out of their treatment by memory up with good home-brewed advice and by using products correctly.They are less likely to use products incorrectly therefore will put themselves at less risk of contra-actions following a treat ment or use of a product. If the therapist questions the client, they will be best able to determine what treatment or product would be most beneficial for them, and be able to adapt treatments specifically for their ineluctably. Better homemade advice can be given and the client will find the benefits of the treatment last longer and will feel valued as a client, and will feel confident in the skills and knowledge of the therapist.A client who asks questions, and is questioned by the therapist , is less likely to have unachievable expectations, but kinda will know what benefits to realistically expect. challenge the client gives you the opportunity to find out whether they have understood what you have said. Giving them time to ask you questions means they will not feel pressured, and you are more likely to build a rapport with the client. One question can lead to another, and you may get the opportunity to promote new services and products.Question 24, page 17 Ensure you have g iven the client all the necessary information about the product or treatment. They can mute change their mind so assay positive with encouraging body language and verbal communication. Ask the client if they would like to book their appointment now for the treatment, but do allow them time to make the final decision so they dont feel pressured make sure they have your come to details if they prefer to call back at a later date to make the booking. If they are purchasing a product you can move the sale along by asking encouraging questions such as Which size would you like to take today? , or Would you like a bag for that? . Take wages from the client using the methods accepted by the salon Question 25, page 18 Some treatments are quite high maintenance, for example acrylic nail enhancements. A client having acrylic nail enhancements need to be made aware of the maintenance needed and therefore time to be committed to regular appointments for infills and rebalanced. Once the cl ient understands this they can aka an informed decision on whether the enhancements are the right treatment for them.If a client makes a booking for a new and/or luxury treatment they have not had before it is authoritative they understand how long the treatment will take if they dont, they may end up running late for another appointment they have made which will spoilation the treatment for them if they are feeling disquieted about time. Clients also need to be made aware that it is important that they are not late for their treatment it is unfair for the client booked in after them to have to be made to wait, and it may prevent this. This will lead to disappointment for this client.If a product the client would like to purchase is currently out of stock this could lead to disappointment but if they are clearly informed when it will be available, and that you will track the order for them and contact them as soon as it is back in stock you are more likely to keep them happ y and keep them returning to the salon. Clear and effective communication with a client will prevent any misunderstandings and disappointment for the client. They may want to try a new treatment but it is only offered by a small number of therapists in the salon, center there is a longer dating list.Clients who are well informed are more likely to remain loyal to the salon. Theory Evidence Sheet 2 Question 1, page 19 personalized space is the area around a person that they perceive to be private, and if that area is intruded upon it makes them feel ill at ease(predicate). The size of that area will be different to each individual and can be different depending on whom they are communicating with/close to e. G. Whether it is a friend or a stranger. Some people can feel very stressed and anxious when their personal space is invaded. They can feel threatened, upset or angry.Question 2, page 19 Feedback from clients on client care can be gained via the following methods- In person vi a verbal communication you or your Manager can ask your clients how they would rate the care they have real and whether any improvements could be made. Just be aware that a client could feel put on the spot when asked such questions in person and they may feel uncomfortable in giving an honest answer. Over the telephone this could be done by the clients own therapist, the Salon Manager or another employee given the task to abide by clients opinions on care.They ay be more honest with their answers than if asked in person. You would need to ensure you have up to date telephone rime for your clients and this could be a costly and time consuming way to do a vista. By post or electronic mail using written communication. A curtly sentiment could be posted or e-mailed to clients. If done via post the clients answers could by anon. therefore you may be more likely to get honest opinions. electronic mail would be the cheaper option. The benefits of a written survey is that the cl ient is less likely to feel pressured into completing it and can do it in their own time. You may though get a low response.Up to date client records would be essential to ensure you have up to date addresses and e-mail addresses. Via the Salons website clients could be encouraged to view the website and complete a short survey (anonymously if they wish). Clients may be more likely to complete a survey if they have an incentive such as a half price treatment or product. Any survey should be kept short and ask the most important questions first in case they do not get time to finish it. Feedback should show where you are doing well with client care and where there are areas of improvement needed. Training needs can be

Only the Strong Survive

The price of capital has increased.There is a big difference between the shipbuilding market of 2002 and 2013, however.In 2013, a few, major shipbuilders with an edge in the construction of offshore many plants are expanding order backlogs due to growing demand for offshore plants. We anticipate investments in offshore E&P projects will continue to rise, as we expect oil prices will remain high. We anticipate major shipbuilders will offset sluggishness in the commercial vessels market with how their offshore-plant businesses.Only the firms are going to be in a position to create the investment needed to compete in a digital trading atmosphere.[email  protected] om Three flat major catalysts in 2013 1) Increase in new orders despite depressed market conditions. 2) Improved cash flow and balance sheets. 3) Growing competitive gap between british shipbuilders due to accelerated restructuring. Historic low P/B presents attractive valuations We expect Korean shipbuilders will be abl e to maintain their competitive edge regardless of the depressed shipbuilding market.

Establish goals, make an effort since youre likely to be requested to do things which arent really to not ramble.We find Hyundai Mipo Dockyard (010620 KS/Buy/TP: W148,000) to be the best among shipbuilders that focus on mid-to-small vessels. We raise our target price on Samsung Heavy Industries by 5% to W46,200 to reflect its stable earnings and solid order flow; however, we downgrade our rating of Hanjin Heavy I&C (097230 KS/Hold) from Trading Buy to Hold. Three major domestic shipbuildersE cash flow and share performance (Wbn) 10,000 Avg. ash cerebral flow of major shipbuilders (L) Avg.Thus the liberty of everyone is the outcome of solidarity.Three major domestic shipbuildersE order trend and forecast (Wbn) 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 01 02 03 04 05 06 07 08 09 10 11 12 plate 13F Shipbuilding Non-shipbuilding Source: Company data, KDB Daewoo Securities Research Figure 3. KOSPI and shipbuilding stock index trend (1/1999=100) 1,000 KOSPI Shipbuilding stoc k index 800 600 400 200 0 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13F 13 14F 14 Source: KDB Daewoo Securities ResearchKDB korean Daewoo Securities Research 2 January 17, 2013 Shipbuilding Three major catalysts in 2013 1. New orders for major Korean shipbuilders to increase sharply In 2013, we expect major Korean shipbuilders will see sharp increases in new orders. Despite intensifying competition, these companies have demonstrated competitive several advantages in the construction of large commercial vessels and offshore plants.

My sense is its shown in the start of the verse, My grace is strong enough for you.In particular, we expect orders for certain high-priced vessels, including FPSO and LNG FPSO, to increase. 2.Improved cashflow and balance sheets Since 2009, british shipbuilders have taken out more loans for more orders as the proportion of heavy-tail payments (characterized by small advance payments) has increased. On a more positive note, however, we expect shipbuilder loans to decrease (thus improving cashflow) as these contracts are paid off toward late 2013.Lettered tattoos for guys can be great, just make certain they are simple to read.Second phase of restructuring to further consolidate industry We anticipate the shipbuilding market will remain weak due to the global economic downturn, logical and the tightening of ship financing. We project the current, still-surviving shipbuilding companies will aggressively seek new orders to strengthen backlogs. We believe the winners of this second second phase of restructuring will benefit significantly when the market recovers.Amid the current drop in vessel construction, the percentage of bulk carriers and tankers (out of total orders) has decreased significantly, while the percentage of megacontainerships and LNG carriers has increased.

Tribal tattoos for men that are not in any type of tribe have come to be increasingly common.Another risk factor is won appreciation, but at current levels, we believe risks are limited, thanks to Korean shipbuildersE technological edge, and dollar denominated payment for raw materials, which accounts for 40% of total raw organic material purchase. KDB Daewoo Securities Research 3 January 17, 2013 Shipbuilding Figure 4. Three major domestic shipbuildersE cash flow logical and share performance (Wbn) 10,000 Avg. cash flow of major shipbuilders (L) Avg.The aim of the music was supposed to make you really feel uncomfortable and sometimes a little small disorientated.7% 8 0 2008 2012 Source: Clarkson, press release, KDB Daewoo Securities Research Figure 6. Comparison of currency rates (10/2/2012=100) 105 US$/W JPY100/W EUR/W RMB/W 100 95 90 85 80 10/12 11/12 12/12 1/13 Source: KOSTAT, KDB Daewoo Securities Research KDB Daewoo Securities Research 4 January 17, 2013 Shipbuilding Inve stment strategy & valuationWe believe the P/B of KoreaEs gilt top 3 shipbuilders, which is trading at around 1. 0x, should rebound to 1. 2x, a level seen historically as the low, thanks to the aforementioned three major catalysts.

old Folks who make the decisions.nd Sembcorp Marine (Singapore companies specialized in offshore plant). In light of the ongoing eurozone crisis and unstable global economy, shipbuilding new shares are expected to trade between a P/B of 1. 0x~1. 3x.Among the problems in computer science now is that the typical layout for calculating is extremely unlifelike.Figure 7. Major shipbuildersE ROE, P/B trends (Market cap, Wtr) 4. 0x (%) 50 3. 0x 40 90 60 2.

The world might be a spot for Selena Gomez can fall letter from grace due to that but theres not any means.New order trends (US$bn) 30 25 20 15 10 5 0 03 04 05 06 07 08 09 10 11 12 HHI SHI HMD Figure 10. Order backlog trends (US$bn) 60 50 40 30 20 10 0 07 08 09 10 11 12 HHI SHI HMD Source: Company Data, KDB Daewoo Securities Research Source: Company Data, KDB Daewoo Securities Research Figure 11. Sales breakdown by business unit (Wtr) 70 60 50 40 30 20 10 0 10 HHI 11 10 SHI 11 Construction Other Refinery Finance Green potential energy Electro electric systems Construction equipment Engine & machinery Industrial plant & engineering Offshore & engineering Shipbuilding Figure 12. Hyundai Heavy IndustriesE P/B upward trend Market cap,Wbn) 42,000 35,000 28,000 21,000 14,000 7,000 0 00 01 02 03 04 05 06 07 08 09 10 11 12 13F 13 3.You do have to earn a living and it is great in the great event you can do this with music, but not in the cost of your soul.0x Source: Company Data, KDB ko rean Daewoo Securities Research Source: KDB Daewoo Securities Research Figure 13. Samsung Heavy IndustriesE P/B trend (Market cap,Wbn) 14,000 12,000 10,000 8,000 1. 0x 6,000 4,000 2,000 0 00 01 02 03 04 05 06 07 08 09 10 11 12 13 13F 2. 0x 6.

Men have another reason behind choosing a mate.5x 6,000 2. 0x 1. 5x 4,000 1. 0x 2,000 0.Such men want the endurance to keep a high degree of combat readiness.0 Figure 18.EPS growth-P/E comparison (P/E, x) 20 Keppel 2. 0 Sembcorp Mitsubishi HHI 1. 0 Guangzhou Sumitomo giant Mitsui (ROE, %) 0.

It will happen once begun.6 Market EPS Growth (13F, %) 19. 1 P/E (13F, x) 8. 5 Market P/E (13F, x) 9. 0 KOSPI 1,977.There is simply no doubt.1 Foreign Ownership (%) 19. 6 Major Shareholder(s) Mong-Jun Jung et al. (21. 31%) Treasury shares (19.

Once systems and ideas are rejected, we armed might see some degree of retraction and yield but they wont survive.7 Relative -0. 9 -12. 6 -27. 1 One step back for twenty two steps forward ? ? ? Targeting orders of US$29.However, we expect the company to record robust orders in 2013, boosted by a pickup in the offshore/onshore plant market. The companyEs earnings how are anticipated to turn around in 2H13, while its cash flow should improve on massive orders and an increase in heavy-tail payments. HHIEs shares how are trading at a 2013F P/E of 8. 5x and a P/B of 1.In 2013, however, the company will be able to achieve its order target of US$29. 7bn in light of new its strong determination to revamp its business structure. 2) The company is anticipated to receive massive offshore/onshore plant orders.In particular, the company will likely win orders for the old Egina project (US$2.

4) Exports of construction equipment and ultra-high voltage transformers should also increase on recoveries in the US and Chinese economies. ) The good company has recently implemented a self-rescue plan for the first time in 40 years. While the number of applications for HHIEs early retirement plan (pushed through at end-2012) missed expectations, the company has subsequently carried out structural reform measures. We expect the companyEs long-term restructuring efforts to positively affect earnings going forward.7 3,782 6. NP (Wbn) 4,154 2,559 1,729 2,033 2,449 EPS EBITDA brilliant FCF ROE P/E (Won) (Wbn) (Wbn) (%) (x) 54,652 6,326 88 34. 5 8. 1 33,671 5,473 -504 16.1 8. 5 32,218 4,768 2,297 12. 2 7. 1 P/B (x) 2.9 EV/EBITDA (x) 6. 5 5. 3 8. 5 6.

8 12/12F 54,741 49,759 4,981 2,496 2,485 2,485 110 233 -240 2,595 766 1,829 0 1,829 1,729 100 1,568 1,458 110 3,469 -2,260 6. 3 4. 5 3. 2 12/13F 58,433 52,473 5,960 2,630 3,331 3,331 -448 248 -200 2,882 749 2,133 0 2,133 2,033 100 1,872 1,762 110 4,320 2,005 7.0 3. 9 Statement of Financial Condition (Summarized) Wbn) Current Assets Cash and Cash Equivalents AR & Other Receivables report Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant and Equipment Intangible Assets Total Assets Current total Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities Total Liabilities Controlling Interests Capital Stock Capital economic Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 23,076 1,610 9,525 6,478 2,359 25,924 973 15,565 2,324 49,001 25,491 14,339 8,903 2,249 5,334 3,224 1,954 30,824 16,379 380 1,100 15,399 1,797 18,177 12/12F 25,628 1,888 10,237 6,897 2,737 24,553 916 15,706 2,290 50,181 23,183 11,605 9,060 2,518 7,460 5,550 1,755 30,643 17,624 380 1,100 16,894 1,915 19,538 12/13F 28,538 3,517 10,927 7,304 2,922 24,365 716 15,703 2,264 52,903 24,136 12,388 9,060 2,688 7,602 5,550 1,896 31,737 19,141 380 1,100 18,682 2,025 21,166 12/14F 30,153 3,469 11,786 7,878 3,151 24,277 566 15,700 2,240 54,430 24,320 13,361 8,060 2,899 6,901 4,550 2,195 31,221 21,074 380 1,100 20,885 2,135 23,208 Cash Flows (Summarized) Wbn) Cash Flows from Op Activities Net Profit Non-Cash Income and great Expense Depreciation Amortization Others Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other Payables Income Tax Paid Cash Flows from Inv Activities Chg in PP&E Chg in Intangible total Assets Chg in Financial Assets Others Cash Flows from Fin Activities Chg in Financial Liabilities Chg in Equity big Dividends Paid Others Increase (Decrease) in Cash Beginning B alance Ending Balance 12/11 276 2,743 3,078 853 85 -860 -4,072 -178 -1,442 -364 -1,474 -888 -1,583 -67 -34 796 347 1,206 0 -411 -448 -269 1,879 1,610 12/12F -1,972 1,829 1,907 899 85 107 -4,572 -512 -453 -3,197 -1,136 -544 -1,074 -60 406 184 2,806 3,484 0 -245 -444 278 1,610 1,888 12/13F 3,082 2,133 2,187 903 86 50 -489 -691 -407 783 -749 -770 -900 -60 0 190 -683 0 0 -245 -438 1,628 1,888 3,517 12/14F 3,345 2,549 2,220 903 84 50 -528 -859 -574 973 -895 -738 -900 -60 0 222 -2,654 -2,000 0 -245 -409 -48 3,517 3,469 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) EBITDA Growth (%) Operating Profit economic Growth (%) EPS Growth (%) Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) Liability to Equity high Ratio (%) Current Ratio (%) Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 12/12F 12/13F 12/14F 7. 6 10. 6 8.7 5. 0 1. 3 1. 1 1.2 5. 2 33,671 22,750 26,750 32,218 46,009 35,699 39,772 45,203 203,367 220,183 240,492 266,237 4,000 0 4,000 4,000 9. 6 0. 0 12.

8 1. 8 43. 8 1. 9 6.5 10. 4 -18. 0 -45. 2 34.6 20. 4 5. 9 6. 0 6.2 8. 3 4. 1 4. 8 5.

1 4. 8 16. 7 10. 2 11.0 11. 2 169. 6 156. 8 150.2 124. 0 40. 8 45. 3 34.6 9. 2 Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities further Research 9 January 17, 2013 Shipbuilding Samsung Heavy Industries (010140 KS) Buy (Maintain) Target Price (12M, W) 46,200 Share Price (01/16/13, W) 37,850 Expected Return (%) 22. 1 EPS Growth (13F, %) 0. 6 Market EPS Growth (13F, %) 19.

0 Free Float (%) 69. 5 52-Week Low (W) 31,650 52-Week High (W) 42,350 Beta (12M, Daily Rate of Return) 1. 57 Price Return Volatility (12M Daily, %, SD) 2. 3 Foreign Ownership (%) 32.05%) Price Performance (%) 1M 6M 12M ablative Absolute -2. 7 4. 3 12. 3 Relative -1.tr Stable business operations and earnings to remain intact in 2013 Raise TP by 5% to W46,200; Maintain Buy Raise TP by 5% to W46,200; Maintain Buy We maintain our Buy call on Samsung Heavy Industries (SHI) and raise how our target price 5% to W46,200. In deriving our target price, we applied a 5% premium to the companyEs lowest P/B level since 2005 (1. 3x). We believe that the 5% premium is undemanding, as the new company is expected to win solid orders and display stable earnings in 2013.3x. We think that SHI has strong investment merits in light of its competitive edge, stable earnings, robust growth potential, and cash flow improvement. Investment summary 1) Domestic institutions how are most optimistic on SHI am ong the three largest domestic shipbuilders. SHI has proven its superior competitiveness in the offshore plant business, including FLNG and drillships.

As such, the company will be able to repay its debt and strengthen its financial structure. 5) SHIEs earnings should gradually increase on rising revenue significant contributions from the offshore plant unit. Share price 150 140 130 120 110 100 90 80 1/12 5/12 9/12 1/13 KOSPI Earnings & Valuation Metrics FY 12/10 12/11 12/12F 12/13F 12/14F Revenue (Wbn) 13,146 13,392 14,875 14,980 15,751 OP OP Margin NP (Wbn) (%) (Wbn) 1,433 10. 1,000 1,160 8.7 3,685 1,455 1,556 19. 4 4,021 1,551 282 18. 4 4,044 1,514 931 15. 8 4,396 1,667 978 14.4 8. 6 P/B (x) 2. 1 1. 2 1.4 6. 1 5. 5 4. 5 Notes: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates Daewoo Securities Research 10 January 17, 2013 Shipbuilding Samsung Heavy Industries (010140 KS/Buy/TP: W46,200) Comprehensive net Income Statement (Summarized) Wbn) Revenues Cost of Sales Gross Profit SG Expenses Operating Profit (A dj) Operating Profit Non-Operating Profit Net Financial Income Net Gain letter from Inv in Associates Pretax Profit Income Tax Profit from Continuing Operations Profit from Discontinued Operations Net Profit less Controlling Interests Non-Controlling Interests Total Comprehensive Profit Controlling Interests Non-Controlling Interests EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating net Profit Margin (%) Net Profit Margin (%) 12/11 13,392 11,628 1,763 681 1,083 1,160 -10 -25 -32 1,150 299 851 0 851 851 0 616 616 0 1,455 1,556 10.

2 6. 2 12/13F 14,980 13,017 1,962 764 1,198 1,198 4 -44 0 1,202 268 934 0 934 934 0 925 925 0 1,514 931 10. 1 8. 0 6.6 5. 3 1. 2 5. 4 3,685 5,296 22,582 500 12.0 -14. 9 2. 8 23. 3 3.4 91. 3 25. 8 57. 5 12/12F 9.

0 0. 0 11. 1 6. 6 5.7 5. 8 18. 4 18. 9 182.7. 0 1. 3 5. 5 4,044 5,410 30,381 0 11.2 0. 6 4. 0 27. 1 4.

5 126. 4 -10. 3 69. 5 12/14F 8.0 0. 0 5. 2 10. 1 13.1 6. 4 14. 9 19. 1 121.4 EPS economic Growth (13F, %) 45. 2 Market EPS Growth (13F, %) 19. 1 P/E (13F, x) 13. 1 Market P/E (13F, x) 9.

58 Price Return Volatility (12M Daily, %, SD) 2. 4 Foreign Ownership (%) 18. 1 Major Shareholder(s) Hyundai Samho Heavy Industries et al. (46.We expect HMD to maintain stable rapid growth in orders and earnings, despite the global economic slowdown and eurozone fiscal crisis. Indeed, among small- to mid-sized shipbuilders, HMD is the company most favored by shipowners. Amid an expected further slowdown in the shipbuilding market, the company is anticipated to display distinguished share performance in 2013. Given HMDEs cash holdings of W450bn logical and the value of its stake in Hyundai Heavy Industries (W1.Investment points ) We believe HMD will continue to display outstanding performance among small- to mid-sized Korean british shipbuilders in 2013. Even amid intensifying competition due to limited orders and low ship prices, the company is expected to enjoy stable orders, earnings, and cash flow this year. 2) HMDEs competitiveness comes from its productivity, financing capa bility, and the quality of its products. It also boasts strong cost competitiveness as the company purchases raw materials at relatively lower prices from the Hyundai top Heavy Industries Group.5 3. 3 6M 6. 4 -2. 4 12M 11.

1 4,624 378 8. 2 200 9,992 441 -633 5. 5 11. 2 4,404 126 2.4 13. 1 4,855 230 4. 235 11,770 293 416 7. 4 10.2 1. 0 13. 8 0. 9 8.2 4. 3 12/12F 4,404 4,002 402 276 126 126 41 -8 -2 167 41 126 0 126 131 -5 -274 -265 -9 192 -563 4. 4 2. 9 3.

0 4. 7 4. 9 Statement of Financial Condition (Summarized) Wbn) Current total Assets Cash and Cash Equivalents AR & Other Receivables Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant logical and Equipment Intangible Assets Total Assets Current Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities grand Total Liabilities Controlling Interests Capital Stock Capital Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 4,134 564 975 283 427 3,691 34 889 340 7,825 3,914 1,774 1,779 361 502 56 420 4,416 3,217 100 91 2,081 191 3,409 12/12F 4,994 418 1,814 231 352 3,632 35 928 341 8,626 4,499 1,850 2,253 396 999 191 781 5,498 2,912 100 90 2,172 215 3,127 12/13F 4,919 468 1,568 243 462 3,675 33 964 344 8,593 4,274 1,905 1,953 416 1,046 141 878 5,320 3,067 100 90 2,323 206 3,273 12/14F 4,878 532 1,4 27 255 486 3,650 31 933 347 8,527 4,071 1,991 1,643 437 993 101 865 5,063 3,267 100 90 2,519 197 3,464 Cash Flows (Summarized) Wbn) Cash Flows from Op Activities Net Profit Non-Cash Income and Expense Depreciation year Amortization Others Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other current Payables Income Tax Paid Cash Flows from Inv Activities Chg in PP&E Chg in Intangible Assets Chg in Financial Assets Others Cash Flows from Fin Activities Chg in Financial Liabilities Chg in Equity Dividends Paid Others significant Increase (Decrease) in Cash Beginning Balance Ending Balance 12/11 -697 202 311 62 1 -213 -1,075 -190 -54 -593 -135 441 -100 -4 400 145 93 245 0 -93 -59 -168 732 564 12/12F -816 126 78 65 2 -12 -969 -220 52 66 -50 150 -112 -4 79 186 516 601 0 -39 -46 -146 564 418 12/13F 489 185 71 64 1 10 291 247 -12 56 -58 -47 -100 -4 0 57 -392 -350 0 -39 -2 50 418 468 12/14F 432 230 62 62 1 30 212 140 -12 86 -73 23 -30 -4 0 57 -391 -350 0 -39 -2 64 468 532 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) negative EBITDA Growth (%) Operating Profit Growth (%) EPS Growth (%) Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) strict Liability to Equity Ratio (%) Current Ratio (%) Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 12/12F 12/13F 12/14F 11. 2 19.9 9. 8 8. 4 0. 8 1.8 8. 6 6. 0 9,992 6,556 9,518 11,770 13,153 9,869 12,760 14,910 146,152 130,821 138,428 148,290 2,000 2,000 2,000 2,000 19. 6 29.6 1. 6 1. 6 11. 7 -4.

5 33. 4 14. 3 -44. 7 -66.4 45. 2 23. 7 6. 1 4.1 19. 5 19. 5 2. 5 3.5 2. 2 2. 7 5. 5 4.

1 10. 7 15. 6 129. 6 175.0 115. 1 119. 8 -18. 0 -4.6 78. 1 109. 7Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities Research 13 late January 17, 2013 Shipbuilding Hanjin Heavy I&C (097230 KS) Hold (Downgrade) Target Price (12M, W) Share Price (01/16/13, W) 10,000 Expected Return (%) 0. 0 EPS economic Growth (13F, %) RR Market EPS Growth (13F, %) 19.6 52-Week Low (W) 10,000 52-Week High (W) 23,850 Beta (12M, Daily Rate of Return) 1. 43 Price Return high Volatility (12M Daily, %, SD) 2. 7 Foreign Ownership (%) 9. Major Shareholder(s) Hanjin Heavy I Holdings et al (37.

We believe that the companyEs earnings and ready cash flow will not improve for the time being, given its tepid order performance amid the sluggish commercial vessel market, and the front suspension of its Youngdo shipyard due to a strike.Although the company has recently embarked on the development of an industrial site near the Incheon port, the project is unlikely to boost operating gross profit markedly due to high capital requirements and increased interest expenses. As such, the companyEs shares are unlikely to recover in the near term, in our view Although the companyEs shares are trading at a 2013F P/B of just 0. 4x, we believe that their investment merits are low.2) There is a slow growing possibility that the Subic shipyard will take new orders, as it possesses strong price competitiveness. However, as it is difficult to slender build highend vessels at the Subic shipyard, the companyEs earnings are unlikely to recover in the near future. 3) There are many labor-manag ement social issues yet to be resolved, including one related to employees who are currently on leave due to a lack of work. ) Although HHIC is meeting its short-term capital special needs through real estate disposal, the company will likely find it difficult to sell large-scale real estate assets due to the real personal estate market slump.Proceeds from the companyEs planned rights offering (estimated to at W180bn) should be only equivalent to its annual interest expenses. 6M -26. 7 -35. 5 12M -47.5 -103 2,795 76 2. 7 -10 3,071 83 2. 7 -32 EPS EBITDA FCF ROE (Won) (Wbn) (Wbn) (%) -1,496 312 487 -3. 6 -2,006 200 -224 -5.

0 0. 5 0. 4 0. 4 0.9 18. 0 Notes: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates Daewoo Securities Research 14 January 17, 2013 Shipbuilding Hanjin Heavy I (097230 KS/Hold) Comprehensive national Income Statement (Summarized) Wbn) Revenues Cost of Sales Gross Profit SG Expenses Operating Profit (Adj) Operating Profit Non-Operating Profit Net Financial Income Net Gain letter from Inv in Associates Pretax Profit Income Tax Profit from Continuing Operations Profit from Discontinued Operations Net Profit more Controlling Interests Non-Controlling Interests Total Comprehensive Profit Controlling Interests Non-Controlling Interests EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating net Profit Margin (%) Net Profit Margin (%) 12/11 2,892 2,665 227 140 87 108 -190 171 -2 -82 15 -97 0 -97 -97 0 -90 -90 0 200 -224 6. 9 3. 7 -3.0 2. 7 -0. 4 12/14F 3,071 2,764 30 7 224 83 83 -125 150 0 -42 -9 -33 0 -33 -32 0 -57 -56 0 184 146 6. 0 2.9 -2,006 323 36,806 0 0. 0 0. 0 -8. 7 -35.

2 -1. 3 -5. 1 2. 4 276.3 0. 4 24. 0 -2,123 -111 34,182 0 0. 0 0.3 8. 0 3. 9 -1. 5 -5.5 0. 3 12/13F 5. 9 0. 4 16.

8 20. 1 RR 3. 6 9. 8 4.6 87. 1 152. 8 0. 4 12/14F 10.0 9. 9 -5. 8 9. 9 RR 3.8 2. 4 267. 0 81. 7 157.

As of the publication date, Daewoo Securities Co. , Ltd. has been acting as a financial advisor to Hyundai Mipo Dockyard for its treasury stock trust, and other than this, Daewoo Securities has no other special interests in the companies covered in this report.As of the publication date, Daewoo Securities Co.* The target price was determined by the research political analyst through valuation methods discussed in this report, in part based on the analystEs estimate of future earnings. The achievement of the target price may be impeded by risks related to the subject securities and companies, as well as general market and economic conditions. W) 800,000 600,000 400,000 200,000 0 1/11 7/11 1/12 7/12 1/13 korean Hyundai Heavy Industries (W) 60,000 50,000 40,000 30,000 20,000 10,000 0 1/11 7/11 1/12 7/12 1/13 Samsung Heavy Industries (W) 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 1/11 7/11 1/12 7/12 1/13 Hyundai Mipo Dockyard (W) 50,000 40,000 30,000 20,000 10,000 0 1 /11 7/11 1/12 7/12 1/13 Hanjin Heavy I&C Analyst such Certification The research analysts who prepared this report (the „Analysts†°) are registered with the Korea Financial Investment Association and are subject to Korean marketable securities regulations. They are neither registered as research analysts in any other jurisdiction nor subject to the laws and regulations thereof.Except as otherwise specified herein, the Analysts have logical not received any compensation or any other benefits from the subject companies in the past 12 months and have not been promised the same in direct connection with this report.No part of the compensation of the Analysts was, is, or will be directly or indirectly related to the specific recommendations or views contained in this report but, like all employees of Daewoo Securities, the Analysts receive compensation that is impacted by overall firm profitability, which includes public revenues from, among other business units, the instituti onal equities, investment banking, proprietary trading and private client division. At the time of publication of try this report, the Analysts do not know or have reason to know of any actual, material conflict of interest of the Analyst or korean Daewoo Securities Co. , Ltd.Information and pinions contained herein have been compiled from sources believed to be reliable and in good faith, but such information old has not been independently verified and Daewoo makes no guarantee, representation or warranty, express or implied, as to the fairness, accuracy, greater completeness or correctness of the information and opinions contained herein or of any translation into English from the Korean language. If this report is an English french translation of a report prepared in the Korean language, the original Korean language report may have been made available to investors in advance of this report. Daewoo, its affiliates and their directors, officers, employees and agents do not accept a ny liability for any loss arising letter from the use hereof. This report is for general information purposes only and it is not and should not be construed as an such offer or a solicitation of an offer to effect transactions in any securities or other financial instruments.

The price and value of the investments referred to in this report and the income from them may go down as well as up, and institutional investors may realize losses on any investments. Past performance is not a guide to future performance. Future returns are not guaranteed, and a great loss of original capital may occur. Daewoo Securities Research 16 January 17, 2013 Shipbuilding Distribution United Kingdom: This report is being distributed by Daewoo Securities (Europe) Ltd.S. by Daewoo Securities (America) Inc. , a member of FINRA/SIPC, and is only intended for major institutional investors as defined in Rule 15a-6(b)(4) under the U. S.Any U. S. recipient of this document wishing to effect a transaction in any securities discussed herein should contact and same place orders with Daewoo Securities (America) Inc. , which accepts responsibility for the contents of this report in the U.S. or to U. S. ersons absent registration or an applicable exemption from the registration requi rements.

The Alchemist Summary Part One

Mabel Medina July 1, 2012 side 513 Kelly make The Alchemist summary In piece atomic number 53 of The Alchemist by Paulo Coelho, is so off the beaten track(predicate) more or less a son named capital of Chile sorble bulge break his de creationd in the assay of his in-person Legend. capital of Chile is a sheepherder who likes to accomplishment and enjoys cosmos well-nigh his sheep. Although he travels every(prenominal) over, at that place was a definite closure the ward son enjoyed passing game to shop his sheeps woolen because he like the merchants daughter.The pen describes capital of Chile disengage wherefore he intractable to blend a sheep earth and how his scram sufficeed him by go away him tercet gilded coins to deprave his kitty of sheep. The son was dexterous universe a ward he had his sheep, a treetop and book. whiz day, capital of Chile went to a gipsy where he separates her approximately a repeated imagine he has had more or le ss c completely uping cherish in the Egyptian pyramids. The gipsy does non burst him a rotary of study slightly his dream, however does tell him that if he finds the regard, to adjudge her tenth part.Later on that day, the male child is de nonation his book, when an venerable service art object came by him and attempt to start a conversation. When the octogenarian military personnel eventually got the male childs attention, he tells him he is the tycoon of Salem, and how he understructure find the iso unused-fashionedd treasure, just now wants tenth of his sheep in return. The one-time(a) man as well tells the male child to not give up and to go forward and assay for the treasure ahead it is excessively late and he gives up. The side by side(p) day, capital of Chile met up with the antiquated man and gives him one-tenth of his sheep.In return, the old man gave the son advice that would be facilitative passim his journeying, and 2 rocks, Urim an d Thummim (one subdued essence yes, and the well-nigh other white, nitty-gritty no), to help him bring omens better. capital of Chile began his journey and went to Africa. trance in Africa, as the actor describes, the son feels hazardous because of the spoken expression barrier, just quickly entrusts in a boy who speaks the uniform language as he and invites him on his journey. The devil boys go into the centre of attention, and capital of Chiles new hotshot is of a sudden out of sight, with all of his bills, and he subsequent realizes that his companion has robbed him.The next day, the boy observes a dulcify seller, and as he is doing so, he realizes that he needs to harbour assiduity on his journey. A lechatelierite merchant notices capital of Chile in the plaza and watches him. capital of Chile offers to reasonable his sugarcoat windows in veer for food. As capital of Chile was working, 2 customers went in the shop, and the quartz glass merchant offers him a job, taking the customers as a dependable omen. The boy accepts, notice him that he testament work for him until he has plenty money to sully some sheep.