Ho Chi Minh and Vietnam Essay - 481 Words

Ho Chi Minh, Politics, and North Vietnam North Vietnam, September 2, 1945, Ho Chi Minh declared independence from France. Ho Chi Minhs Independence Day was marked with a new constitution and a new name, The Democratic Republic of Vietnam. Hos speech on the day of Vietnamese Independence was one of freedom, freedom against French domination. Inspiration of Hos speech was one from American history and history has a tendency to repeat itself. Like the very past of America and Europe, French rule did not grant Vietnamese Independence and war broke out. Ho grew up knowing at the young age of fifteen that the French were only in Vietnam to attack Indo-china once power was established, even though he was still young he told students†¦show more content†¦In knowing this Ho talked with Communists on Marx Mountain and discussed a campaign to make Vietnam independent. Upon conversing with the Marxist Communists, Ho started to trust the politics which prevailed many third world countries of that era. Even with nine days spend on-top the Marx Mountain and strategies discussed many problems still awaited Ho. The neighboring country China was soon to throw a wrench in Hos plan, they arrested him on the charge of being a French spy. After being moved around from prison to prison in China it was rumored that Ho Chi Minh had died. This was not so, he was set free by the Chinese government under the condition that he and his Vietnamese followers would help in the war against Japan. Once Japan was defeated with the help of America Ho Chi Minh was made Supreme Political Advisor, he now controlled what he had always wanted, all of Vietnam. With the American constitution as a reference point Ho gave his famous speech of Independence for all of Vietnam. It was said by Ho himself that A people who have courageously opposed French domination for more than eighty years, a people who have fought side by side with the Allies against the Fascists during these last few years - such a people must be free and independent., this statement sums up all that Ho had worked to achieve, but hisShow MoreRelatedHo Chi Minh and The Vietnam War2039 Words   |  9 Pages The declaration of Vietnamese independence made by Ho Chi Minh in 1945 served as a milestone in what was a century-old struggle against foreign control. In its history Vietnam had spent 1000 years under control of the Chinese and had resisted this control vehemently. Revolts and rebellions against China finally lead to Vietnamese independence in the tenth century. In the thirteenth century the Vietnamese drove back Kublai Khan three times under the leadership Dao. Tran Hu ng Dao not only led theRead MoreHo Chi Minh And The Vietnam War1644 Words   |  7 PagesThere are figures in the Vietnam War, and maybe in all of history, that merit consideration as much as North Vietnamese pioneer Ho Chi Minh. In the same way, as other Vietnamese regular citizen that partook in the Vietnam War, Ho Chi Minh grew up under French royal run the show. Amid his youth, pre-adulthood, and adulthood, Ho saw the genuine harming impacts colonialism had on his nation. Disappointed with French dominion and European communism, Ho Chi Minh tried to build up a political rationalityRead MoreHo Chi Minh s Influence On The Country Of Vietnam987 Words   |  4 Pagespersistent, Ho Chi Minh s influence led to Vietnamese independence and forced major world powers to rethink military aggression against small, underdeveloped nations. Hailing from a family of well educated dissidents, his origin would form the ethics and idealism that defined his influence on the country of Vietnam. Being exposed to global politics, his experiences as a young adult gave him the ability to reach outside of Vietnam for support. When faced with protracted war in Vietnam, he was ableRead MoreThe Communist Vietnamese Leader Ho Chi Minh and the Vietnam War1186 Words   |  5 PagesHo Chi Minh Ho Chi Minh was a Communist, who had announced Vietnam independent. He was a Marxist and believed in â€Å"national Communism . Throughout the war with the French, Ho Chi Minh took refuge in northern Vietnam and settled there with his followers. He founded the Indochina Communist Party and the Viet Minh. North Vietnam was a deprived area and was cut off from the agricultural profit of South Vietnam. Ho Chi Minh was forced to ask assistance from main Communist allies, the Soviet Union andRead MoreThe Roles of the Ho Chi Minh Trail for the Victory of the North in the Vietnam War809 Words   |  4 Pagesmost famous proxy wars was the Vietnam War, in which the technologically superior US army l ost to the inferior North Vietnamese Army (NVA). Prior to the Vietnam War, the French IndoChina War ended several years earlier, in which the Viet Minh forces managed to push out the French forces, separating the country into two; the Communist North lead by Ho Chi Minh, and the South led by a French-backed emperor. By then, the US government feared that the fall of North Vietnam to communism would cause neighboringRead MoreSample Resume : Ho Chi Minh City, Vietnam, Asia1979 Words   |  8 Pages IGN: Avoris Age: 14 Whats your timezone?: Ho Chi Minh City, Vietnam, Asia Have you ever been banned on Arc?: No I have never been banned on ArcHcf and I do not ever plan on being banned on ArcHcf. Any previous experience as staff?: I was Staff on Voltix. Voltix was a huge opportunity for me and I had to do a lot of work seeing it was a new practice server when I was staff there were nonstop cheaters and I had multiple screenshares a day. I was a trusted staff member on Voltix and I handled highRead MoreFactors Affecting Customer Loyalty on Banking Service: a Case of Hong Kong Shanghai Bank Commercial in Ho Chi Minh City, Vietnam5054 Words   |  21 Pagescase of Hong Kong Shanghai Bank Commercial in Ho Chi Minh City, Vietnam †¢ Dec 22, 2011 †¢ 0 †¢ 263 [pic] [pic][pic]FACTORS AFFECTING CUSTOMER LOYALTY ON BANKING SERVICE: A CASE OF HONG KONG SHANGHAI BANK COMMERCIAL IN HO MINH CHI CITY, VIETNAM Related Articles Luxury Travel Vietnam s Tour Featured in Indonesia Travel Magazine Corporate globalization and human rights abuses in the sweatshops of pakistan, indonesia and vietnam M1 Carbine Communications In Iran Bà ¹i ThanhRead MoreHo Chi Minh1114 Words   |  5 PagesThrough the many years of Ho Chi Minh’s leadership, Vietnam had been led into independence and unity. From an early age, he had fought long and hard to gain the independent status of Vietnam. He believed in what Vietnam deserved to have. There were many hurdles during his leadership, but he did not let any of them get in his way. Would Vietnam be the Vietnam they are today without Ho Chi Minh? This idealistic and motivated leader founded the Vietnamese Communist Party, and was also the PresidentRead MoreKing Kamehameha And Ho Chi Minh Essay1217 Words   |  5 PagesKing Kamehameha and Ho Chi Minh had both helped their own people and land thrive. Kamehameha had fought many battles, strategically, courageously, and resiliently. Not to mention, Kamehameha made sure of the safety of his people and used the Ahupua’a system in order for each area to have an equal amount of resources. The skilled warrior had acquired all the Hawaiian Islands after years of battles with other ali’is. He was able to allege his people well, not only by using the Ahupua’a system, butRead MoreLeadership Styles of Ho Chi Minh and Ngo Dinh Diem Essay871 Words   |  4 Pageshistory for Vietnam all began in Geneva, Switzerland during the year 1954 in the Geneva Conference. The Geneva Accords both put an end to the Indochina War and set in motion the divide of territory in Vietnam. The Geneva Accord was an obligatory agreement stating Vietnam was to be separated at the 17th parallel, a line of separation, into two distinct territories. Vietnam was now separated into North and South Vietnam, the communist north and the south, which was anti-communist. Ho Chi Minh controlled

Profiling in Law Enforcement - 751 Words

The term profiling is defined as â€Å"the use of personal characteristics or behavior patterns to make a generalization about a person†; therefore, this refers to gender profiling. The second part of the definition also states the â€Å"use of these characteristics to determine whether a person may be engaged in illegal activity† refers to what is called racial profiling (Dictionary.com, n.d.). Profiling has been used within in law enforcement for a number of years, as it provides informational analysis for solving crimes, but unfortunately over time, profiling has become the focus of race and ethnicity. The intent of profiling was designed as a legitimate tool for law enforcement to utilize for positive reasons, but to understand why profiling has been given such a negative outlook; it must be understood that profiling can either be proactive or reactive in its use. The idea of proactive profiling is representative of making judgments about another, relative to possible criminal activity. The factors of a person’s race, manner of dress, grooming, behavioral characteristics, and the circumstances surrounding the observation of these factors plays a role in proactive profiling (Ibe, Ochie, Obiyan, 2013, p. 184). When law enforcement officials profile criminals, this valuable tool is used to focus on such things as traits and characteristics, personality, and behavior. Once the underlying factors are discovered, this information becomes divided into specific categories forShow MoreRelatedRacial Profiling And The Law Enforcements1418 Words   |  6 PagesLiterature Review This paper outlines the studies, incidents, facts and statistics that have found evidence of racial profiling which causes distrust in the law enforcements (police, government etc0. Studies of racial profiling shows that blacks, Hispanics, Middle Eastern and other racial minorities are more likely to be stopped than those who are white. They are more likely to be stopped and searches, traffic stops, license and registration checks. In addition they are more likely to be ticketedRead MoreRacial Profiling And Law Enforcement1770 Words   |  8 PagesPeriod 1 March 2015 Racial Profiling in Law Enforcement The topic racial profiling is an ongoing debate that is currently being argued in America. Before being able to help understand the faults of racial profiling, one must know what it is. According to the National Institute of Justice, racial profiling in law enforcement â€Å"is commonly defined as a practice that targets people for suspicion of crime based on their race, ethnicity, religion or national origin† (â€Å"Racial Profiling†). 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It includes the combination of the analysis of the physical and the behavioral evidence. This study aims at analyzing criminal profiling on the basis of its basic elements and its useRead MoreRacial Profiling by Law Enforcement Essay756 Words   |  4 Pages Just what is racial profiling? Racial profiling is a law enforcement and security agency practice that encourages officers to stop, search, and investigate people based on race, ethnicity, nationality or religion. While racial profiling is most commonly committed against ethnic minorities, many instances of racial profiling occur in reaction to specific crimes, making any racial or cultural group subject to more intensive scrutiny by the authorities. (ebscohost.com) This is what I think boutRead MoreDo Law Enforcements Practice Racial Profiling983 Words   |  4 PagesDo Law Enforcements practice Racial Profiling in Street-Level Crime in the country? This inquiry persists to be the main deliberation by the experts, and it is the question that convoys the research. In â€Å"The Reality of Racial Profiling†, The Leadership Conference on Civil and Human Rights shows absolute statistical report evidences from Department of Labor’s Bureau of Justice that proves the existence of Racial Profiling on the country’s highways. The year 2005 data resulted that Black and HispanicRead MoreThe Pros and Cons of Profiling by Law Enforcement Essay1833 Words   |  8 Pagestoo many laws that one should follow, including the penalties that are to be expected. The word crime can insinuate many thoughts of apprehension, segregation, and security when applying the law in accordance to criminal acts being prosecuted. In order for penalties to apply to a particular individual, law enforcement must first be able to track and identify suspects of various crimes. Numerous approaches can be offered for this process, but profiling is a common tactic that has aided law enforcementRead MoreEssay on Racial Profiling by Law Enforcement is Not Justified106 3 Words   |  5 PagesWhen we are children we are taught not to judge a book by its cover, for most of us this is easier said than done. Racial profiling is something that affects millions of people in the United States alone. Seemingly innocent people are being targeted solely by the color of their skin and their nationality. Whether racial profiling somebody is appropriate or not is a topic widely discussed by individuals everywhere. The question is however, is it right to judge somebody just because they look differentRead MoreRacial Profiling by Law Enforcement is Unjustifiable Essay1318 Words   |  6 Pagesway people perceive other individuals. Racial profiling, a term used more frequently when dealing with law enforcement, is defined as â€Å"any action undertaken for reasons of safety, security or public protection that relies on stereotypes about race, colour, ethnicity, ancestry, religion, or place of origin rather than on reasonable suspicion, to single out an individ ual for greater scrutiny or different treatment† (CBC). An analysis of racial profiling in Marita Golden’s After reveals aspects of invalidRead MoreRacial Profiling Is A Threat Law Enforcement Tool Essay2119 Words   |  9 PagesOne issue that has been prevalent throughout the world in policing is racial profiling. This issue is highly controversial across the world because there are many people who believe racial profiling is a legitimate law enforcement tool, but there are just as many people who believe racial profiling is pure racism. Racial Profiling is using someone’s racial or ethnic characteristics to suspect someone of committing or is going to commit a crime. Since our society isn’t all just one specific type of

Bed Bath and Beyond Capital Structure Decision (HBR Case Study) free essay sample

StockmarketIntroduction Bed Bath Beyond (BBBY) was founded in 1971 by Warren Eisenberg and Leonard Feinstein. BBBY held its initial public offering in June 1992, on the NASDAQ exchange. The company utilizes the â€Å"big box† retail concept and focuses its product offerings around domestics merchandise and home furnishings. Since its IPO BBBY has been favored by equity investors and long considered one of the best performing retail companies. They have never missed an earnings estimate and have experienced a fortyfold increase in stock price from the original $17 per share IPO. The company introduced its ?  rst superstore in 1985 and have since underwent large scale expansion operating 575 stores by the end of the ? scal year 2003. BBBY also owned and operated 30 Harmon stores and 24 Christmas Tree Shops stores by 2003. (See appendix four for SWOT analysis) The Problem Bed Bath Beyond has always conducted business under the old fashioned premise that â€Å"cash is king, a nd debt is bad†. As of late their capital structure has become a big issue amongst investors. They are concerned that the current unlevered structure is not maximizing value and are wary of the risks associated with the companies large and growing cash balances. Currently BBBY is facing the issue of trying to decide wether their current capital structure is optimal moving into the future, and if not, what decisions they need to make to achieve optimization. The following analysis will outline the key factors in? uencing this decision and ultimately suggest a course of action. Case 2: Bed Bath Beyond page | 1 Case Analysis Capital Structure BBBY? s capital structure is not optimal, as BBBY has a large cash position and they do not issue any debt nor do they pay any dividends during their operation. MM proposition I states that the value of ?  m is independent to its capital structure and therefore the mix between debt and equity is irrelevant. However assumptions under the MM proposition are unrealistic in the real world, so the idea that an optimal capital structure is unattainable is discarded. Achieving the optimal capital structure depends on the mixture of debt to equity, depending on the amount of debt, it can help maximize the value of the ? rm while minimizing WACC. Another reason BBBY should consider taking on some debt is that they have more than enough cash to cover their expenses. Issuing debt can act as a positive signal to investors that they are able to make timely payments and are ? nancially stable. The tradeoff theory of capital structure states that a value-maximizing ? rm will balance the value of interest tax shields and other bene? ts of debt against the costs of bankruptcy and other costs of debt, to determine an optimal level of leverage for the ? rm (KISGEN, 2006). One potential reason why BBBY may not be taking advantage of the tax shields could be that they want to stay ? exible in the industry and avoid costs of ?nancial distress. According to Exhibit 8 from the case, Pro Forma 2003 of BBBY with 40% debt to total capital, the interest coverage ratio is 22. 519 ($644,836/28,635) and the debt to equity ratio is around 66. 67% ($636,328/954,492), which coincides with AA credit rating and the default rate, which Case 2: Bed Bath Beyond page | 2 is 1. 31% (Exhibit 7A). From Exhibit 2 in the case, we can ? nd BBBY? s total assets on Feb. 29, 2004 ar e $2,865,023 and taking the value of 15% and the bankruptcy cost for BBBY is approximately $5629. 8 (Heitor Almeida, 2004). Meanwhile, from Exhibit 8, the taxes on Pro Forma 2003 is $237,237, which is $12,838 ($250,075-237,237) less than actual 2003, which results in the tax bene? t generated from issuing debt is -$15,797 ($12,838-28,635). It is obvious to conclude that, with the implication of tradeoff theory, the pro forma 40% debt to total capital in 2003 is not the optimal leverage ratio for BBBY. The pecking order theory argues that ? rms will generally prefer not to issue equity due to asymmetric information costs. Firms will prefer to fund projects ? rst with internal funds and then with debt, and only when internal funds have been extinguished and a ?rm has reached its debt capacity will a ? rm issue equity (KISGEN, 2006). In 2003 10-K, BBBY management con? rmed itscommitment to ongoing expansion and stated its intention to use internally generated funds to ? Nance its expansion, which clearly implies pecking order theory is rooted in BBBY capital structure, and is the reason why BBBY keeps a large cash position (Artur Raviv, 2007). Agency Theory Costs Keeping a large sum of money on hand may be advantageous in uncertain economic conditions, and ? nancial crises. However, this can lead to potential con?ict between managers who do not act in the interest of shareholders, such as empire building and over-investment problems. Debt helps discipline management because they must pay interest payments or risk bankrupting of the ? rm. It also helps reduce Case 2: Bed Bath Beyond page | 3 wasteful investments as manager have less cash on hand to invest, in other words managers must be careful how they use the money of the ? rm. Debt creates a con? ict of interest between the shareholders and creditors though, such as the possibility of expropriating wealth from creditors to shareholders and the underinvestment problem so this must be monitored. The Cost of Financial Distress Debt BBBY? s current cost of ? nancial distress is essentially zero because they have no debt on their books. The bond class default rate of AAA bonds to BBB bonds, 0. 52% and 6. 64% respectively, were used to estimate default rates based on different capital structures. The most problematic key ratio on the list is BBBY? s â€Å"operating income to sales† at roughly 14%, which is low for the industry (see Appendix one for more details), and the highest and most consistent ratio was their EBIT and EBITDA interest coverage ratios, which are considered to be the two most important ratios. With this in mind, the default rates outlined (see Appendix one) should be a close estimate of what BBBY would face when they take on debt. Direct costs associated with ? nancial distress are historically small. The indirect costs, such as loss of suppliers, customer, and leases can be quite substantial. Using the high side of an industry estimate, 20% of total assets, to reasonably account for what BBBY could lose due to ? nancial distress. For the optimal D/E ratio of 0. 60 we have a present value of ? nancial distress equal to $127,432,000 and a present value of tax shield of $400,362,000. As we move to a higher D/E ratio we see the marginal cost of ? nancial distress and marginal bene? t of the tax shield converge. Case 2: Bed Bath Beyond page | 4 Repurchasing Shares The decision to repurchase shares and take on debt is overall positive news to the shareholder? s. They will receive a special repurchase capital gain and enjoy an increased upside on returns due to the increased beta of the company. The total capital structure of the company shifts from being totally equity funded to being 38% Debt and 62% Equity ($600 Million and $990 Million respectively). This also improves the WACC from 33. 75% to 28. 85% (see Appendix one), which will allow Bed Bath and Beyond to take on lower positive NPV projects and increase their options. Earnings per share (Appendix two) will improve due to the share buyback and the net income reducing effect of the new interest expense. Return on assets also improves due to the reduction in cash used to fund the share repurchase. The overall value of the ? rm will improve as the new tax shields that were generated outweigh the cost of ? nancial distress that faces them, from taking on the 600 million in debt. In Conclusion We would suggest Bed Bath Beyond do a mixture of two things: 1) Issue debt in the amount of 600 million dollars 2) Hold a one-time share repurchase of 1 billion dollars (approximately 27 million shares) ? nanced by 400 million in cash and 600 million from the proceeds of the debt issue. 3) Assume an optimal capital structure of 60% debt/equity. It is our belief that this will be the best method for BBBY moving into the future. The one time large scale share buyback would improve the WACC and boost the EPS by decreasing the amount of shares outstanding. The market value of the ? rm would Case 2: Bed Bath Beyond page | 5 increase and at the 60% ratio the value of the tax shield gained by issuing debt will far outweigh the cost of ? nancial distress. (See Appendix Three) Their old way of making ? nancial decisions has served them well in the past and has consistently made BBBY one of the top performing retail companies. But as times change businesses must adapt and evolve to meet demands of markets and investors. Case 2: Bed Bath Beyond page | 6 Works Cited Artur Raviv, T. T. (2007, 4 1). Bed Bath Beyond: The Capital Structure Decision.