Electric Cars Essays (1562 words) - Green Vehicles,

Electric Cars Electric Cars History: Early electric vehicles may have appeared as early as 1830. Scottish inventor Robert Davidson constructed the world's first prototype electric vehicle in 1837, but historians generally credit J.K. Starley, an English inventor, and Fred M. Kimball of Boston with building the first practical electric cars in 1888. Later in the in the decade, William Morrison of Des Moines, Iowa, constructed his version of the electric vehicle in 1891. His vehicle required 24 storage battery cells, took 10 hours to charge, and could run for 13 hours. It could carry up to 12 people and had a 4-horsepower motor. His car could reach speeds up to 14 miles per hour. Morrison, however, never mass-produced his vehicle. The first commercially produced electric vehicle was the Electrobat. It was manufactured by Philadelphia-based Morris and Salom Company. In 1896, the Woods Motor Vehicle Company of Chicago became the first American manufacturer of electric cars. The Electrobat was one of several electric cars, which competed in a race sponsored by Illinois publisher H.H. Kohlsaat. He had challenged inventors to come up with a car that could travel the distance from Chicago to Evanston and back (58 miles). Electric cars and gas cars competed against each other in this competition. Although none of the cars performed in an especially notable manner, the electric cars failed miserably. It seemed that the slushy country roads generated a great deal of friction, which drained the strength of the batteries quickly. Shortly after the Kohlsaat race, Thomas Edison said he believed gasoline, not electricity, would provide the dominant power source for the automobile of the future. As it looks at the present, he said, it would seem more likely that (the cars) will be run by a gasoline or naphtha motor of some kind. It is quite possible. However, that an electric storage battery will be discovered which will prove more economical, but at the present the gasoline or naphtha motor looks more promising. It is only a question of a short time carriages and trucks in every large city will be run on motors. Thomas Edison seemed to predict the future. Even so, in 1904 one-third of all the cars in New York City, Chicago, and Boston were electrically powered. By 1912, there were 20,000 electric cars and 10,000 electric busses and trucks were on the road in the United States. Only a handful of manufactures, notably Baker and Detroit Electric, made it into the 1930's. Former President Woodrow Wilson owned one of the most elegant cars of the period, a 1918 Milburn Electric. In the 1960's and 1970's a handful of electric car manufactures started to reappear because of the increasing concern about air pollution and a depleting supplies of petroleum. In the late 1970's and 1980's, manufactures started developing electric cars called hybrids. These cars have all the components of the electric cars plus an internal-combustion engine. In the late 1980's, one of the most e technologically advanced electric cars was the Sunraycer, developed by General Motors Corporation. This experimental car used solar energy to recharge its batteries. More recently, in 1996, General Motors Corporation announced the first modern, mass-produced car designed specifically as an electric car. Also in 1996, the Honda Motor Company introduced another electric car, the first with nickel-metal hydride batteries, for sale in the United States. Italian automaker, Fiat, announced it will begin making vehicles with a new, standard-sized battery based on a European standard in 1996. Technological Concepts: An electric car has a battery and a controller, connected to the accelerator pedal, for directing the flow of electricity between the battery and motor. Most electric cars use lead-acid batteries, but new types of batteries, including zinc-chlorine, nickel metal hydride, and sodium-sulfur, are in the works. The motor of an electric car harnesses the battery's electrical energy by converting it to kinetic energy. Kinetic energy is the energy that makes the car move. The driver simply switches on the power, selects Forward or Reverse with another switch, and steps on the accelerator pedal. While the internal-combustion engine of a conventional car has many moving parts, an electric motor has only a single rotating element. Like a gasoline-powered car, an electric car has a system, called a power train, of

Buy Back of Securities- An Analysis

Buy Back of Securities- An Analysis Free Online Research Papers Introduction Share capital is a very essential part of a company, listed or unlisted. Share capital can be of two types i.e. equity share capital or preferential share capital. The share capital of a company has to be subscribed by one or more persons. After the share of a company has been allotted to the subscribing members, the subscribers have no right over the money gone as proceeds of the shares subscribed. All that the shareholder has is the right to vote at the general meetings of the company or the right to receive dividends or right to such other benefits which may have been prescribed . The only option left with the shareholder in order to realize the price of the share is to transfer the share to some other person. But with the introduction of section 77A, 77AA, and 77B in the Companies Act, 1956 the shareholder can realize the price by selling directly to the company . Buy Back of Securities In general terms buy back of shares can be understood as the process by which a company buys its share back from its shareholder or a resort a shareholder can take in order to sell the share back to the company. Buy-Back of shares is nothing but reverse of issue of shares by a company . It means the purchase of its own shares or other specified securities by a company. In case of buy-back, a company offers to take back its shares owned by the investors at a specified price generally determined or arrived at on the basis of the average price of the shares in the past few months. This calculation is usually done at a premium on the market price so as to attract more number of investors, which may vary as per the financial prudence of the company . Thus, buy-back is one of the prominent modes of capital restructuring. Legislative History Under Section 77 of the Companies Act, 1956, a limited company is prohibited from buying back its own shares. The basic reason for such a prohibition was a feeling that allowing companies to buy-back their shares could give rise to companies ‘trafficking’ in their own shares leading to undesirable practices in the stock market, like insider trading or other such unhealthy influences on stock prices . There was also an apprehensions that introduction of buy-back was unlikely to improve the stock market climate, but on the contrary worsen the climate as buy-back would in all likelihood facilitate more manipulation This general prohibition has been diluted by the statute, which permits a company to buy-back its securities after following the procedural safeguards provided in Section 77A, 77AA and 77B of the Companies Act. Prior to the Amendment of the Companies Act in 1999, the laws as to the buying of its share by the companies were very stringent. There was no way a company could buy its shares back from the shareholders without a prior sanction of the Court (except for the preferential shares). In 1887, in was held in the case of Trevor v. Whitworth , that a company limited by shares may not purchase its own shares as this would amount to an unauthorized reduction of capital. The rationale for this decision was that though the creditors of the company make decisions about its credit-worthiness on several grounds, but an important ground is the amount of its share capital. If the courts had not established at an early stage that capital was ‘sacrosanct’ and could not be returned to shareholders at their whim, then share capital would not have been protected. Without this protection, creditors could find shareholders depleting share capital, with creditors left to carry all the business risks. In India, the rule in Trevor v. Whitworth was enshrined in Section 77 of the Companies Act, 1956 which prohibited a company limited by shares, or by guarantee, and having a share capital from buying or canceling its own shares, nor may a company do so indirectly, by getting another person to buy the shares on its behalf, unless it complied with the provisions and followed the procedure for reduction of share capital under Sections 100 to 104 of the Companies Act, 1956 which involved sanction by the Court. Thus, by implication, an unlimited company can purchase its own shares. Article 3(e) of Table E, Schedule 1 to the Act gives power to such companies to reduce its shares in any way . Similarly, forfeiture for non-payment of calls and valid surrender do not involve purchase of shares by the company . Any valuable consideration paid out of the company’s assets amounts to a transaction of purchase . A prohibition on the buy-back of shares thus existed by virtue of Section 77 of the Companies Act, 1956 under which a buy-back could be made only by reduction of share capital. Later, the recommendations of a Working Group on Companies Act, 1956 constituted by the Central Government, led to insertion of section 77A and 77B. This Amendment was suggested to bring Indian law in parity with its British counterpart . Thereafter, the concept of Buy-back of securities which was proposed in the Companies Bill, 1997 was incorporated in the Companies Act by the Companies (Amendment) Ordinance 1998. Section 77A of the Act refers to the power of a company to purchase its own Securities subject to the provisions of Section 77A (2) and section 77B of the Act. The Securities and Exchange Board of India (SEBI) has issued the SEBI (Buy-back of Securities) Regulation 1998, which are applicable to listed company on a stock exchange. The other companies are regulated by Private Limited Company and Unlisted Public Limited Company (Buy-back of Securities) Rules, 1999. OBJECTIVES OF BUY-BACK OF SHARES In the words of the working group which recommended the introduction of buy back in the companies act: â€Å"It is an erroneous belief that the sole reason for buy back is to block hostile take-over. In this connection it is pertinent to list five reasons why the bank of England favoured the making of law to allow companies to repurchase their shares of which blocking take-over was only one: To return surplus cash to shareholders To increase the underlying share value To support the share prices during temporary weakness. To achieve or maintain a target capital structure. To prevent or inhibit unwelcome take-over bids. Briefly a company resorting to the buy-back may have surplus cash, and it may not have found the right avenue to invest such surplus cash, during such period of dilemma the company may decide to return the surplus cash by buying back its shares, with a hope that at a later time when the company brings on an expansion the investors do not loose their faith in the company. Secondly the company might as well think of buying its shares with a view to increase the value of the shares which after the process of buy back still remain in the market. For after the shares are bought back the number of marketable shares become less and thus the prices increase. Thirdly, at times there is a slump in the share market due to no fault of the company. Though the slouch may be temporary but may have continued far too long .The management then may decide to give value to the shareholders and buy back their shares at a price higher than the market price. This is generally done to instill faith in the m inds of the shareholders. Saving a company from hostile take-over has always been seen as a major force behind bringing about this amendment, the company may use the surplus cash available in buying back its shares and bringing the number of floating shares down, resulting in the suitor not finding it a worthy investment or a profitable acquisition. These could be certain reasons why a company may resort to buy back of its shares. Thus in short, shares may be bought back by the company on account of one or more of the following reasons: To increase promoters holding; Increase earnings per share; To improve return on capital return on net worth and to enhance the term shareholder value; To provide an additional exit route to the shareholders when shares are undervalued or are thinly traded; To enhance consolidation of stake in the company; To return surplus cash to the shareholders; To achieve optimum capital structure; Rationalize the capital structure by writing off capital not represented by available assets; Support share value; To thwart hostile takeover; To pay surplus cash not required by business. MODES OF BUY-BACK The buy-back of shares or securities may be in any one or more of the following modes: existing security-holders on a proportionate basis(tender offer method); the open market through: o book building process in accordance with Regulation 17; o stock exchanges in accordance with Regulation 15; or odd lots, that is to say, where the lot of securities of a public company, whose shares are listed on a recognized stock exchange, is smaller than such marketable lot, as may be specified by the stock exchange; or the securities issued to employees of the company pursuant to a scheme of stock option or sweat equity. PROHIBITED MODES OF BUY-BACK: No company shall directly or indirectly purchase its own shares or other specified securities : Through any subsidiary company including its own subsidiary company; or Through any investment companies or group of investment companies; or If a default, by the company, has been made in respect of: o Repayment of deposit or interest payable thereon, or o Redemption of debentures or preference shares, or o Payment of dividend to any share holder, or o Repayment of any term loan, or o Interest payable thereon to any financial institution or bank. If the company has not complied with the provisions of section 159, 207 and 211 of the Act. Moreover, a listed company is prohibited from buying back its securities through negotiated deals, spot transactions, private arrangements and insider dealings . SOURCES FOR BUY-BACK The Act provides that buy-back of shares can be financed only out of free reserves -Where a company purchases its own shares out of free reserves, then a sum equal to the nominal value of the share so purchased is required to be transferred to the capital redemption reserve and details of such transfer should be disclosed in the balance-sheet; or securities premium account; or Proceeds of any shares or other specified securities. It is provided that no buy back of any kind of shares or other specifies securities can be made out of the proceeds of the same kind of shares or same kind of other securities as it will frustrate the purpose sought to be achieved by an issue and will make no sense. It can however be used for buy-back of another kind of security. CONDITIONS FOR BUY-BACK The Companies Act provides that a company can buy-back its shares only when : It must be authorised by the articles of association of the company. It is, therefore, necessary for a company proposing to resort to a buy-back to make sure that such an authority exists in its articles. If the articles do not contain such a provision, the company must follow the procedure laid down in Section 31 of the Companies Act for altering its articles to incorporate such a provision by passing a special resolution and filing a certified true copy of the same along with Form No. 23, with the concerned Registrar of Companies, for registration as required by Section 192 of the Act. A special resolution has been passed in general meeting of the company authorizing the buy-back; However, the said special resolution shall not be required to be passed if the following conditions are satisfied : o The buy-back is or for less than 10% of the total paid up equity capital and free reserves of the company, and o A resolution authorizing the buy-back is passed at the meeting of the board. Provided that no company can come out with a fresh proposal to buy back its shares within a period of 365 days from the date of the preceding offer of buy-back. The ratio of the debt owed by the company is not more than twice the capital and its free reserves after such buy-back: Provided that the Central Government is empowered to relax the debt-equity ratio in respect of a class of companies but not in respect of any particular company . The impugned shares/securities must be fully paid-up. The buy-back of the shares or other specified securities listed on any recognized stock exchange is in accordance with the SEBI (Buy-back of Securities) Regulations, 1998. The buy-back in respect of shares or other specified securities other than those listed on any recognized stock exchange shall additionally comply with the provisions of the Private Limited Company and Unlisted Public Company (Buy-back of Securities) Rules, 1999. EXPLANATORY STATEMENT The explanatory statement accompanying the notice convening the general meeting at which the special resolution will be passed should contain all the relevant particulars of the buy-back such as: All material facts, fully and completely disclosed: The necessity for buy-back; The class of security intended to be purchased by the buy-back; The amount to be invested under buy-back; The time limit for completion of buy-back. The company is also required to pass a special resolution in its general meeting after following the procedure laid down in section 171, 172 and 173. TIME LIMIT OF COMPLETION OF BUY-BACK Every buy-back is required to be completed within 12 months from the date of passing the special resolution or the Board resolution, as the case may be or where the resolution is passed through postal ballot, the date of declaration of the result of the postal ballot, as the case may be. OTHER FORMALITIES Declaration of Solvency- A declaration of solvency is required to be filed by the company with the Registrar and SEBI in the prescribed form before the buy-back is implemented to guaranty its solvency for at least a year after the completion of buy-back . It should be verified by an affidavit and signed by two directors, one of whom must be the Managing Director, where there is one. However, a company whose shares are not listed on the Stock Exchange is not required to file this declaration with SEBI. Physically Extinguishment of Securities- A Company after the completion of buy-back is required to physically extinguish and destroy its securities within 7 days of the last day on which the buy-back process is completed . Prohibition on Further Issue of Shares- A Company buying back its securities is prohibited from making a further issue of securities within a period of 6 months except by way of a bonus issue and discharge its existing obligations such as conversion of warrants, stock option schemes, sweat equity or conversion of preference shares or debentures into equity shares . Register of Securities Bought Back- A Company is also required to maintain a register containing the particulars of the brought back securities, including the consideration paid for them, the date of cancellation, the date of physically extinguishing and physically destroying securities and such other particulars as may be prescribed . Such particulars are required to be entered in the register of buy-back of securities within 7 days of the date of completion of buy-back. Filing of Return- On completion of the buy-back process, the company shall within a period of 30 days file with SEBI and the Registrar a return in e-form No. 4C containing the particulars prescribed. A private company and a public company whose shares are not listed on a recognized stock exchange should file the return of buy-back with the Registrar only . The conditions specified below are applicable to only buy-back of shares effected under the said provisions and the conditions applicable to Sections 100, 104, 391 cannot be applied to buy back of securities . TRANSFER OF CERTAIN SUMS TO CAPITAL REDEMPTION RESERVE ACCOUNT Where a Company purchases its own shares out of free reserves, then a sum equal to nominal value of the shares so purchased has to be transferred to the Capital Redemption Reserve Account referred to in clause (d) of the proviso to sub section (f) of section 80 and its details are required to be disclosed in the balance sheet . Such a transfer of capital redemption reserve account will not be required when buy-back of securities is other than shares. Further, the Central Government may, from time to time notify other securities as specified securities and such notified securities may not be shares. PENALTY If a company makes default in complying with the provisions, the company or any officer of the company who is in default shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to fifty thousand rupees, or with both. The offences are compoundable under section 621A of the Companies Act, 1956. CRITICAL ANALYSIS APPRECIATION This scheme is advantageous to the Companies as: Companies may buy-back its shares to take advantage of low share prices and hope that their value will rise quickly. Companies considering that its share price has been unfairly lowered buy-back them to give the price a boost. A company with excess cash may choose to buy its own shares rather than give out dividends. Once a company gives out dividends, investors expect them to be passed out regularly. But if the company’s cash dwindled in future years, it might have to cut the dividend and anger shareholders. A company could be taking advantage of the lower price to infuse its employee stock option program. A company may buy-back it shares to safeguard itself from hostile takeover bids. CRITICISM However, there are certain drawbacks and areas of concern in the legislation: Under section 115-O of the Income Tax Act, 1961, dividend tax at the rate of 10 % has to be paid on any amount declared, distributed or paid by way of dividend by any domestic company. However, buy-back of shares made under section 77A of the Act is not treated as dividend by virtue of sub clause (iv) of clause (22) of section 2 of the Income tax Act. It is not mandatory for a company to declare dividend under the Act. Taking advantage of this legal provision, a subsidiary may refrain from declaring dividend and transfer the entire or substantial profits to reserve. Then it can buy-back 25% of the shares at book value, which in any case will be more than the face value. These companies can wait for 6 months and issue further shares to the extent brought back. This process can be repeated any number of times. Thus, buy-back can be used to repatriate profits without paying dividend taxes by subsidiaries of foreign companies. Similarly, subsidiaries of Indian companies can also distrib ute profits without paying any dividend tax. Most of the buy-back taken place to enhance promoter’s holdings in the company rather than with a view to enhance shareholder’s wealth. In case of the multi-national companies, buy-back has been motivated by a desire to get the company de-listed from the Indian bourses. Under the present guidelines, if the promoters are able to get more than 90% shares, law permits the delisting. There is no restriction on repeated buy-backs year after year, which has resulted in increasing promoters equity stake ultimately. There is reduced cooling off period of 6 months between a buy-back and re-issue of same kind of shares within a specified period. There are reports of insider trading in some of the cases before the buy-backs are announced. CONCLUSION With the present competitive environment in India arising due to globalization and multi-nationals entering into the Indian market; it was felt that Indian companies need flexibility. Though the response to buy-back option was lukewarm in the beginning, the situation is changing and the provisions have received laudable response from the corporate world. Since the approval of buy-back of shares by companies, there has been commendable shoot up in the instances of buy-back. If one takes a peek at the web-site of the SEBI, every month on average 2-3 companies make public announcements for buy-back of shares. There are undoubtedly certain drawbacks in the Buy-back of securities in India but the benefits far outweigh the criticism. Thus, enabling Indian companies to buy-back its own shares is clearly a step towards fulfillment of long-standing demand towards liberalization of company law. ? Bibliography Dr. Avtar Singh : Company Law, Eastern Book Company A.K. Mujumdar : Company Law, Kalyani Publishers Palmer : Company Law (Vol 1), Steven Sons Ltd., London Young Patrick : Capital Market Revolution: The Future of Markets in an Online World H.K. Saharay : Company Law, Universal Law Publishing Co. Taxman : SEBI Manual Sanjeev Aggarwal : Guide to Indian Capital Market, Bharat Law House Research Papers on Buy Back of Securities- An AnalysisMoral and Ethical Issues in Hiring New EmployeesAnalysis of Ebay Expanding into AsiaMarketing of Lifeboy Soap A Unilever ProductCapital PunishmentIncorporating Risk and Uncertainty Factor in CapitalTwilight of the UAWNever Been Kicked Out of a Place This NiceComparison: Letter from Birmingham and CritoDefinition of Export QuotasThe Project Managment Office System

Money is the Root of Good Essay Example | Topics and Well Written Essays - 1500 words

Money is the Root of Good - Essay Example Ancient people graduated from Barter trade to using precious metal coins as their form of money. Gold, silver, bronze among other metals served as money in the olden days. Today, money is accepted as physical currency made of paper and coins. The growing technology has also introduced an acceptable business platform that involves online trade where currency is rarely used. These transformations aim at making exchange of goods and services easy. Even though there are various evils associated with money, money’s goodness outweighs its associated evils, thus money is the root of good stands. In the ancient world when money had not been introduced, traders used to engage in barter trade whereby goods were exchange for goods based on mutually inverse needs. It was difficult to agree on the value of goods to be exchanged due to quantity and quality differences. Traders needed to come up with a material that would be used to stop the direct exchange of goods. Money stepped in to determine the value of various goods. Moreover, it was widely accepted. It is divisible and trade has been easy since its introduction in the markets (Wollenberg para 1). Money is any acceptable material of exchange in a transaction. In a hypothetical situation, absence of money would mean that there wouldn’t be any platform to conduct trade. People would acquire goods from others by forceful means. Money has enabled trade thus it is good (Wollengerg para 2). Anything used rightfully and fairly is good. This includes money and general wealth. Wollenberg tells of a story of a poor man whose generosity elevated his financial status in the community but once he became rich, selfishness stepped in. Shannon Christman, in her article â€Å"why money is not the root of all evil† argues that its not money that causes evil but the love for money. Christman suggests that if money was the root off all evil, then religious people would be striving hard to be as

Data Handling Checklist Research Paper Example | Topics and Well Written Essays - 2750 words

Data Handling Checklist - Research Paper Example 1.2 Use data collection sheets to record data from a practical exercise (e.g. measuring temperature change over time) (p264 Chapter 28). Solution: There are a number of methods available to record the raw data. Let here we use tally chart to record the data related to measure the temperature change over time. The data recorded in table 1.2(a) is the raw data about the variation of temperature over time for a hot summer week. 1.3 Identify strengths and weaknesses of different methods of data collection, e.g. tally chart - frequency table (p274 Chapter 28 submit Question 1). Answer. Strengths of Tally chart. A tally chart is a grid used to help clearly show information as it is collected. A good tally chart, -shows the information clearly. -have clear columns and headings. -uses lines to show numbers and a total number to show the frequency. Weakness of Tally chart -Tally chart is not a good option to use for a large complex data collection. -Since Tally chart uses lines to show numbers, therefore for large data the Tally (lines) patterns are not only have an odd outlook but also cover a lot of space. Frequency Table When summarizing large masses of raw data it if often useful to distribute the data in classes or categories and to determine the number of individuals belonging to each class called the class frequency. A tabular arrangement of data by classes together with the corresponding class frequency is called a frequency distribution or frequency table. The data organized in frequency table is termed as grouped data. Strengths of Frequency Table A frequency table can split data into classes or categories. By frequency table the actual number of scores as well as the % age of scores in each interval can be displayed. A frequency table can be used to summaries categorical, nominal, and ordinal data. It may also be used to summar

Life of William Wordsworth Essay Example for Free

Life of William Wordsworth Essay William Wordsworth is considered one of the greatest poets during the English Romantic Period. He is also considered, only next to Shakespeare, one of the greatest sonneteers. There are some historians that even believe that William Wordsworth, along with Samuel Taylor Coleridge, helped launch the Romantic Period. This statement has been debated between historians, but one thing that they do agree on is, William Wordsworth shaped the literary era. The Romantic Period was a time that allowed artistic freedom. The early 60s is the closest period of time that can be related to this time in history. The creativity and experimentation of artists, poets, and ordinary people was beginning to bloom. That was a period of great change. The Classical Period was more controlling. There were strict laws of the Classical Period slowly began to change as Romanticism moved away from such control. The Romantic Period was also a movement of literary and intellectual thinking. Romanticism emphasized on imagination, freedom of feelings, and was mostly connected within the visual arts, music, and literature. Imagination was more important than logic. This period is mostly associated with the arts and poets like William Wordsworth. William Wordsworth, the most significant poet of the English Romantic Period, was greatly influenced as a writer by his childhood, love of nature, and his many relationships. According to Judith W. Page, William Wordsworth was the central poet of his age (Gale 1). William Wordsworths poetry was drawn from his amazing memory, and was mostly based on Nature, people he watched, and personal experiences. Leslie Brisman said of Wordsworth, To call William Wordsworth a Memory Poet is to note how he substitutes personal memories for other assurances of continuity, natural or divine. (276-277). Because each encounter partly transmits and partly reformulates a myth of origins, William Wordsworths work seems easy to read, when in fact, he may be the most difficult of the English Poets (278). Many of his poems were based on his own life and his interpretation of it. The memories and encounters that William Wordsworth drew from, started when he was just a small boy. William Wordsworth was born at Cockermouth, Cumberland on April 7, 1770. He was the second of five children. His father was an attorney which allowed them to live a generous life style. At home is where he learned to appreciate poetry. It was his father that gave him the gift of memory, by requiring Wordsworth to memorize poems or parts of poems, it help developed his powerful memory. Relying on his memory became the very basis of his art (Anderson 9). Growing up in the Lake District is where Wordsworth gained his early appreciation for the beauty of nature. The river that he would play in at the age of five, also had influenced his writing (Gale 2). He loved the countryside and the freedom he had to roam for long periods of time. During this time, his imagination began to bloom. Although he enjoyed periods of solitude, he was adventurous, imaginative, and strong-minded (Aubrey 2). To all accounts, he had the perfect childhood till his mother passed away in March of 1778. He and his brothers were sent to a school at Hawkshead and his sister, Dorothy, was sent to live at Halifax. During his time at school, he only returned home for the holidays. He was well educated and prospered. When his father passed away he and his brothers spent the holidays with family who would patronized them and made them feel dependent (Watson 1577-1578). It was back at school at Hawkshead where he was cared for and his direction for poetry is nurtured by William Taylor, the Headmaster at Hawkshead Grammar School. The classes at Hawkshead were well ahead of other school and were unusual for that time (Purkis 22). According to F. R. Watson, The Prelude early years is about his childhood at Hawkshead and not Penrith (1577). Geoffrey Hartman writes that nature for William Wordsworth was not an object but a presence and a power; a motion and a spirit; not something to be worshiped and consumed, but always a guide leading beyond itself. Till 1804 Wordsworth thought that nature was guiding him. It was in 1804, that he discovers it was his imagination guiding him through nature. His imagination was his guide. This realization shakes him, but does not change his point of view (85-90). William Wordsworth love for nature started at an early age. Thomas Gale writes about Russell Noyes, who in his book William Wordsworth, recounted how Wordsworth credited the river with having influenced his poetic writing: The sound of running water, he often felt, was almost part of his own being (Gale 2). During his college years, he disliked his classes and felt he did not fit in. He wrote in the The Prelude that he believed that he was not for that hour,/nor for that place. (Aubrey 2). Although he did write the poem several poems while at school, one of the more famous one is An Evening Walk, which was meant for his sister, Dorothy. The year before graduation he went for a yearlong walking tour of France, the Alps, and Italy. Several of Wordsworths poems were created from this year long walk. His love of nature was magnified as he viewed glorious mountains, valleys, and other various landscapes. The walk through the Alps inspired Descriptive Sketches. Wordsworth stated . Nothing that I ever saw in nature left a more delightful impression on my mind than that which I have attempted, alas! how feebly, to convey to others in these lines (George 10). The walking tour also gave way to the sixth book of The Prelude. The tour gave him some of his greater imaginative experiences of his life. Michelle Lee writes how Lines Composed a Few Miles Above Tintern Abbey, were composed on a walking tour of the Wye River. He advocates the power of Nature. (245) He returned to college and graduated in 1791, without honors. After graduation, he climbed Mount Snowdon, the highest peak in Great Britain. This was an important event that he later incorporates in the final book of The Prelude, giving it a great symbolic importance (Aubrey 2). After climbing Mt. Snowdon, William Wordsworth returned to France in November of 1792. During this time, the French Revolution was at its peak. This was also the time when he met and befriended Republican soldier, Michael Beaupuy. With the growing friendship between the two men, Wordsworth enthusiastically embraced the revolutionary cause. This was also the time when he had an affair with Annette Vallon, who later gave birth to his daughter. These were times that began to change and shape Wordsworth and his poetry. In 1795 he meets William Godwin and is influenced by his ideas. This is also the year that he is reunited with his sister Dorothy, with whom he is very close to. The relationship between brother and sister is also cause for several of his poems. Two years later the encounter that changes the Romantic Period, according to some historians, occurs when Wordsworth meets Coleridge for the first time. William and his sister, settled at Al Foxden in Somerset to be near Coleridge. Margaret Drabble writes that this was a period of intense creativity for both poets. This period produced the Lyrical Ballads, which was a landmark in the history of English Romanticism. The three friends, William, Dorothy, and Coleridge traveled and explored. They made new friendships notably with Sir W. Scott, Sir G Beaumont, and De Quincey (1085). These were happy times and times when he was taken mental notes that would soon turn into poetry. It was the death of his brother in 1805 that changed his joy to sadness. The death of his brother inspired several poems including Elegiac Stanzas Suggested by a Picture of Peele Castle. With the passing of his brother, William suddenly becomes opposed to Romance and Realism (Hartman 91). His brothers death was not the only death to inspire some of his greater works. The death of two of his children inspired his sonnet Surprised by Joy (Drabble 1085). William Wordsworth died in April 23, 1850. It was after his death, his sister published The Prelude, his greatest work. His life, from start to finish, is expressed in this great piece of literature. Throughout William Wordsworth life, he went through many changes. He married his long time family friend, Marry Hutchinson and had a family. His view on religion changed, along with his thoughts on the political society. William Wordsworths poems are all created from the memories of his life experiences and the visions of his travels. Through many friendships and emotional relationships, Wordsworth created some of the greatest poems of the Romantic Period. He was an influence on great poets such as; Samuel Coleridge, Lord Byron, Percy Shelley, and John Keats. There is still a question of whether or not William Wordsworth launched the Romantic Period, but there is no doubt that he shaped the literary work of that time. William Wordsworth, who was greatly influenced as a writer by his childhood, love of nature, and his many relationships, is by far the most significant poet of the English Romantic Period.

Madonna Kolbenschlags Lost in the Land of Oz Essay -- Madonna Kolbens

Madonna Kolbenschlag's Lost in the Land of Oz "In "Lost in the Land of Oz", Madonna Kolbenschlag explores the way old societal myths, which are created from the metaphors in our life, are no longer useful in today's society. The author believes we need to embrace the ego archetype of the orphan, the most influential metaphor for the self, in order to become a whole and complete person. Madonna Kolbenschlag discusses how our society is particularly hostile towards women, resulting in an acute feeling of self-loathing, doubt, loneliness, and guilt. Today, women as the orphan feel a complete sense of powerlessness and abandonment, not only by everyone around her but also by God. Instead of suppressing our anxiety, Kolbenschlag advises that we should deal with it and remove the hidden layers of denial. We need to befriend the orphan within us and through all of this we will grasp a new insight and develop new spiritual consciousness. I feel the book is geared more towards women reclaiming their cultural and spiritual power. Chapter Four, "Women-Out of the Cave, Into the Desert," discusses this issue, including the modern problems facing women and some solutions. Today, women struggle to rediscover and reconcile their new societal roles with their feminine identity. In the book, Kolbenschlag uses Dorothy of the "Wizard of Oz" as the feminine model that must confront the psychological challenges along her path in order to reintegrate her true feminine self. (p.20) Women are orphaned in so many ways by our society, but through realizing certain truths can we befriend the orphan within us. Previously, Kolbenschlag felt that there were only two levels of feminine consciousness: those asleep and those who were awaking. (p.78) However, in today's society distinguishing these levels have become more complex. Through her "liberation index," she identifies the five levels of feminine awareness of modern times, which are innocence, denial, escape, defection, and deviance. Many young women are in the first stage of innocence because they have been sheltered from the realities of life, coming from a "picture perfect" life. Poor women are also in this stage because they believe that their reality is the only way of being for them. In the level of denial, women recognize their options, but feel that it is more beneficial for them to stay in their present state. On... ...d independence is another great dilemma that I think many women go through, especially those in professional arenas and takes many of them a long time to resolve the two. Growing up in a matriarchal family, my mother has always instilled through actions the need for a woman to be independent. She raised my sister and I alone and I have seen her struggle with this dilemma, when she remarried. As Kolbenschlag said, often dependency is equated to domination, which is not what most women want. I think that sometimes everyone wishes that they had someone that they could lean on, especially through trying times, but that doesn't mean they want that person to take over the situation. I also do not believe that for a woman to be considered "independent" she must give up her femininity and individuality. In my opinion a male-dominated society has no authority to dictate the characteristics of femininity to a woman. As a conscious, young man, I know that are many obstacles in the path of women, some involving race and others gender. I am a combination of many characteristics, values, and beliefs. While I do not think I am ready to befriend my inner orphan yet, I know one day I will be.

Reservation Policy and Indian Constitution Essay

I. Introduction The spirit of equality pervades the provisions of the Constitution of India, as the main aim of the founders of the Constitution was to create an egalitarian society wherein social, economic and political justice prevailed and equality of status and opportunity are made available to all. However, owing to historical and traditional reasons, certain classes of Indian citizens are under severe social and economic disabilities so that they cannot effectively enjoy either equality of status or of opportunity. Therefore the Constitution accords to these weaker sections of society protective discrimination in various articles, including Article 15(4). This clause empowers the state, notwithstanding anything to the contrary in  Articles 15(1) and 29(2), to make special reservation for the advancement of any socially and educationally backward classes of citizens or for scheduled castes and scheduled tribes. Cast based reservation system in India An ordinary form of long-ago discrimination, inside humankind in India is the carry out of untouchability. Scheduled Castes (SCs) are the main targets of this medieval put into practice a practice which is banned by the Constitution of India (Basu, Durga Das (2008) an untouched human being is measured, contaminated or a lesser human. Though during the Vedic period a person’s ‘Varna’ (not ‘caste’) was clear by his/ her socio-economic duties these duties were either of your own accord performed or were assigned by the local superintendent , and ‘varna’ was originally not clear by one’s birth into any exacting family. Nevertheless, over the years Caste has been defined by one’s birth. The Government in recognition to the peripheral status of the marginalized social communities has consistently promulgated various legislations and statutes, which are influenced by two main considerations, namely: a. to overcome the multiple deprivations of the marginalized social groups inherited from exclusion in the past, and to the extent possible bring them at par with the others; and b. to provide protection against exclusion and discrimination in the present by encouraging their effective participation in the general economic, social and political processes of the country. Towards these ends, the Government of India had utilized two-fold strategies, which include: i) anti-discriminatory and protective measures; ii) development and empowering measures. The extension of the reservation policy in India to the marginalized social groups is primarily drawn from such considerations and is only applicable to the public domain. As such, the vast private sector, which comprises of a sizable section of the marginalized social groups, remains outside the purview of the reservation policy. Reservation in India is a form of affirmative action designed to improve the well-being of perceived backward and under-represented communities defined primarily by their ‘caste’ (quota-system based on ‘gender’ or ‘religion’) is a phenomenon that commenced with the coming into force of the Indian Constitution (the Constitution initially provided reservation to Christians, with the proviso that it would automatically reduce gradually with the efflux of time) – however, lately preferential treatment on regional basis has either been non-statutorily introduced in the educational institutes (e.g. eligibility conditions for candidates from outside the State are 5% higher than that for the ‘locals’, as per local rules prescribed by certain Universities) or is being advocated in both jobs and lowly professions like auto-rickshaw-drivers). The most important stated aim of the Indian reservation system is to boost the opportunities for improved social and instructive position of the underprivileged communities and, thus, allow them to take their equitable place in the conventional of Indian society. The reservation scheme exists to provide opportunities for the members of the SCs and STs to increase their representation in the State Legislatures, the executive appendage of the Union and States, the labor force, schools, colleges, and other ‘public’ institutions. (Financial Support†, 0ct 2011). The Constitution of India states in Article 15(4): â€Å"All citizens shall have equal opportunities of receiving education. Nothing herein contained shall preclude the State from providing special facilities for educationally backward sections (not â€Å"communities†) of the population.† [Emphasis and parentheses added. It also states that â€Å"The State shall promote with special care the educational and economic interests of the weaker sections of society (in particular, of the scheduled castes and aboriginal tribes), and shall protect them from social †injustice† and all forms of exploitation.† The Article further states that nothing in Article 15(4) will prevent the nation from helping SCs and STs for their betterment [‘betterment’ up to the level enjoyed by the average member of other communities. ( Laskar, Mehbubul Hassan 2011). In 1982, the Constitution specified 15% and 7.5% of vacancies in public  sector and government-aided educational institutes as a quota reserved for the SC and ST candidates respectively for a period of five years, after which the quota system would be reviewed. This period was routinely extended by the succeeding governments. The Supreme Court of India ruled that reservations cannot exceed 50% (which it judged would violate equal access guaranteed by the Constitution) and put a cap on reservations. However, there are state laws that exceed this 50% limit and these are under litigation in the Supreme Court. For example, the caste-based reservation stands at 69% and the same is applicable to about 87% of the population in the State of Tamil Nadu. In 1990, Prime Minister V. P. Singh announced that 27% of government positions would be set aside for OBC’s in addition to the 22.5% already set aside for the SCs and STs.(The Struggle for Equality in India 2002). In the Indra Sawhney’ case, hon’ble Supreme Court also held that reservation in promotion is unconstitutional but permitted the reservation,for Scheduled Castes and Scheduled Tribes to continue for a period offive years(From 16.11.92). Consequent to this, the Constitution was amended by the Constitution (Seventy-seventh Amendment) Act, 1995 and Article 16(4-A) was incorporated. This Article enables the State to provide for reservation, in matters of promotion, in favour of the Scheduled Castes and Scheduled Tribes. The fact that the words â€Å"Backward class† used in Article 16(4) have been instituted in Article 16(4-A) by the words â€Å"SCs & STs†, itself precludes consideration of making reservation in promotion in favour of any other category of citizens. II. Constitutional Provisions The main objective of the Indian reservation system is to increase the opportunities for enhanced social and educational status (in the sense better than the previous — until it becomes equal to that enjoyed by an average member of other communities) of the underprivileged communities and, thus, enable them to take their rightful place in the mainstream of Indian society. The reservation system exists to provide opportunities for the members of the SCs and STs to increase their representation in the state Legislative, the Executive Organ of the Union (Centre) and States, the  labour force, schools, colleges, and other ‘public’ institutions. The exact necessities for the reservation in services in favour of the members of the SC/STs have been made in the Constitution of India. They are as follows: Article 15(4) and 16(4) of the Constitution enabled both the state and Central Governments to reserve seats in public services for the members of the SC and ST, thereby, enshrining impartiality of opportunity in matters of civic service. Article 15(4) states that: â€Å"Nothing in this Article shall prevent the State from making any provision for the reservation of appointments or posts in favour of any backward class or citizens, which, in the opinion of the State, is not adequately represented in the services under the State.† Article 16(4 A) states that: â€Å"Nothing in this article shall prevent the State from making any provisions for reservation in the matter of promotion to any class or classes of posts in the services under the State in favour of SCs and STs which in the opinion of the State are not adequately represented under the State†(Constitutional 77th Amendment, – Act, 1995). Article 16 (4 B) states that: â€Å"Nothing in this article shall prevent the State from considering any unfilled vacancies of a year which are reserved for being filled up in that year in accordance with any provision for reservation made under clause (4) or clause (4A) as a separate class of vacancies to be filled up in any succeeding year or years and such class of vacancies shall not be considered together with the vacancies of the year in which they are being filled up for determining the ceiling of fifty percent reservation on total number of vacancies of that year† (Constitutional 81st Amendment, – Act, 2000). The Constitution prohibits discrimination (Article 15) of any citizen on grounds of religion, race, caste, etc.; untouchability (Article 17); and forced labour (Article 23). It provides for specific representation through reservation of seats for the SCs and the STs in the Parliament (Article 330) and in the State Legislative Assemblies (Article 332), as well as, in  Government and public sector jobs, in both the federal and state Governments (Articles 16(4), 330(4) and 335). (Sukhadeo Thorat and Chittaranjan Senapati 2006). III. Impact of reservation policy on employment and education As may be evident from the particulars in the earlier paragraphs, the strategy of reservation had a helpful effect in conditions of induction of scheduled castes, scheduled tribes and other backward classes into public sector employment and in educational institutions. However, their accessible share in employment and educational institutions still falls short of the target in certain categories of jobs and higher education. The target in the case of Groups D and C are close to the population mark of 15 per cent for scheduled castes and 7.5 % for scheduled tribes but fall short in Groups A and B. As against this, the true position regarding the representation of other backward classes in central services is not available. However, as stated in para 6.4, in the All India Services and central services for which employment is made through the Union Public Service Commission, representation of other backward classes is very near to their share. With the growth in the share of scheduled castes and scheduled tribes in public services, it had positive multiple effects on the social and economic situation of these two disadvantaged groups. The data provided by the ministry of personnel indicates that in recent years the vacancies reserved for the scheduled castes, scheduled tribes and other backward classes are being filled fully even in the „elite‟ services at the centre. Reservation did not provide equal opportunities within each group/community to all beneficiaries. Consequently, different castes and tribes within a group/community have not benefited from reservation equally. Almost in all categories of beneficiaries among scheduled castes, scheduled tribes or other backward classes and minorities, there is a growing sense of deprivation amongst different categories, which is leading to internal dissension. For example*, in Punjab, the Valmiki Samaj is asking for a separate quota of reservations on the ground that Ramadasis and Mazbis have cornered the benefits. Likewise, Chamars in Uttar Pradesh and Mahars in  Maharashtra are said to have benefited from the reservations more than other castes identified in the schedule from these regions. Similar accusations have been made against the Meena community by other scheduled tribes. Problems of this kind are manifold in the case of other backward classes, as in each state there are dominant groups, usually with economic and political clout, who reap the benefits of reservations. There are Ezhavas in Kerala, Nadars and Thevars in Tamil Nadu, Vokkalligas and Lingayats in Karnataka, Lodhs and Koeris in Central India, Yadavs and Kurmis in Bihar and Uttar Pradesh and Jats in Rajasthan, which, despite their dominant status, have been clubbed as backward classes eligible for benefits under reservations. For these reasons, reservation has become a contentious issue today, more so when it is applied to other backward classes. Reservations alone are not enough to mainstream the SCs and the STs to the levels of the other sections of the society. The system of reservations meant to uplift the weaker sections, has in fact, succeeded in the creation of creamy layers within the marginalized social groups to the extent that the percolation of the benefits have been marginal and differentially accessed. The vision of Ambedkar, Phule, Periyar, and Sahuji Maharaj, as initially envisioned under the aegis of the reservation policy and reforms in the structure of governance was to completely negate the deleterious impacts of caste-based discrimination and exclusion. The idea was to create fissures in the hegemonic hold of the immutable status of the higher castes over public services. Therefore, the historicity of reservations included firstly, the amelioration in the relative position of the lower castes, and two, restructuring of the institutionalized social relationships in the Indian society on democratic lines. Instead of giving power/authority to less efficient candidate, reservation should provide better opportunity of study to weaker/backward section of the society to compete with unreserved class by way of offering more resources to the weaker class so that they could defeat the Generals.