Significant Security Event Research Paper Example | Topics and Well Written Essays - 750 words

Huge Security Event - Research Paper Example Mob control police is certainly not an exceptional type of police power. Mob control police incorporates individuals from the police branch of a locale who have been prepared with the information, aptitudes and capacities to manage riots. This paper will inspect why the requirement for revolt control emerges alongside the strategies utilized by to counter revolting individuals with various instances of how mob police have handled mobs. The fundamental reason for revolt control and mob control police is to take gauges so as to control, disband just as capture people who are associated with fights and mobs. If there should be an occurrence of mobs a few measures are executed to end the uproar, for example, arrangements. Be that as it may, in specific situations refutations will in general fall flat. Particularly when there is a gridlock between the revolting people and the individuals who are considered liable for the uproar to happen, extreme estimates should be taken to control riots. Uproars are a serious special issue as if there should be an occurrence of mobs police can't utilize deadly power to prevent the revolting open from dissenting or being savage (ANON, 2014). This is on the grounds that the individuals who are revolting might be revolting for the worthwhile motivation and might be revolting against the individuals who have been chosen by the revolting individuals into the administration. Halting a mob o r a dissent isn't characterized as an every day obligation of the police power. Uproar police is for the most part called upon by the legislature when they neglect to end the mob in a serene way or when the protestors become brutal and disturbed. The motivation behind the mob police is to end the uproar through mighty measures while guaranteeing that the individuals who are fighting are not fatal harmed through the strategies utilized. A large portion of the mobs start at the degree of a group which incorporates a gathering of individuals who accumulate in a specific zone because of a commonly shared intrigue (ANON, 2014). For instance: on account of Ferguson mobs of 2014, the mobs began following a multi year old Black

The American Christian Holocausts Essay -- Holocaust History

The American Christian Holocausts As a secondary school understudy I was constantly irritated by understudies who might ask: Why do we need to gain proficiency with this stuff [history] at any rate? We learn history so we don't rehash our slip-ups. This is the basic answer that my instructors, my dad, and pretty much some other grown-up would give. This answer sounded good to me at that point, and I handily acknowledged it. In secondary school, understudies find out about the Nazi-Holocaust, and which is all well and good. Data proliferates in regards to this theme. In any case, my instructors never instructed me that our nation has its very own Holocaust (really there are two; one murdering 40 to 60,000,000 Africans, and one executing 100,000,000 Native Red Peoples). Hitler himself frequently communicated his adoration for the practicality wherein the American Christians evacuated the Native Americans and gave them mass graves like the one in Wounded Knee, South Dakota. Have you at any point heard the words American Holocaust(s) previously? As I read about history I was attracted to the Indian Wars. One day I started perusing Dee Brown's book Cover My Heart at Wounded Knee. I was stunned by what I read. I had never been shown these things, yet this history appeared to be so significant and unmatched in American history. As of late, I got Brown's book and perused it a subsequent time. At long last, the words shook me from the rest in which we Americans love to enjoy; the rest of refusal, realism, and gratification. The contemplations and pictures evoked in Brown's book returned and my heart loaded up with an indefinable sentiment of difficult annoyance once more. I contemplated internally, I'm happy that is done with, I don't have the foggiest ide a what I would have done on the off chance that I had been alive, at that point. The expressions of William McPherson of the Washington Post with respect to Brown's book consoled... ...rican banner and harmony awards by Abraham Lincoln and Colonel A. B. Greenwood in Washington just a year sooner and was informed that as long as the American banner was above them, nobody would be hurt). The conquers present encompassed the ladies and youngsters assembled under the banner. At 8:00 am in excess of 700 mounted force men under the order of Colonel John M. Chivington and Major Scott J. Anthony, rode in and terminated on the clustered Indians from two bearings. After the underlying charge the US troopers got off and proceeded with the aimless slaughtering of men, ladies, and youngsters. During the murdering unspeakable abominations and mutilations were submitted by the warriors. Records from two white men, John S. Smith and Lieutenant James Connor, portrayed the demonstrations of dehumanization. As indicated by John S. Smith, Colonel Chivington realized these Indians to be quiet before the slaughter.

self-assessment, re playwriting

self-assessment, re playwriting Though I’ve thought of myself as a writer for most of my life, I always struggled with fiction writing and long-form storytelling. Writing a news article for the school paper or a personal blog post or a school essay was easyâ€"in fact, fulfillingâ€"but true storytelling blocked me like no other. In high school I became interested instead in poetry; not only writing poetry, but noticing poetry, recognizing symbolism and meaning in the everyday arcs of human experience. But still, I struggled. I felt that I had stories to tell and no means with which to tell them. This was my state entering playwrights’ workshop, with the basic aim of forcing myself to learn to write longform. Poetry taught me how to capture moments, feelings, emotionsâ€"but more complex discussions of the human experience and the sorts of relationships we form necessitate the sort of storytelling ability I felt I lacked. As I began writing plays, I struggled to find ways to drive action, create drama, all in a theatrically compelling way. In particular, I found myself wanting to say big things, philosophical and critical things about the current state of humanity. I would get stuck on creating a story that would make the statements I wanted. The training wheels of the class helped. I learned to think in terms of change, theatrical devices, use of objects, lighting and staged sound, characters’ desires and motivations and raisons d’etre. And as I heard and read and saw more plays, I changed the way I observe and listen. I focused on a particular skill with each play I wrote. One would be about creating vivid dialogue; one about staging and lighting; one about managing large numbers of distinct characters. Most of these were unsuccessful in some way or another, but some were successfulâ€"and as I kept trying, I found myself happier with my results. Curiously, I found myself returning to certain discussions: societal oppression, the ethics of engineering, social awareness. And I drew heavily from poetry (was that cheating?) in attempts to heighten the visual impact of the performance, attempting to pierce the layers and defenses an audience comes armed with and reach into a core, common humanity. It was hard to have the drive to continue writing ten pages a week when life and problem sets got in the way, and alternately inspiring and horrifying to hear my characters brought to life by my classmates. It was ultimately liberating, I think, to have had a supportive space where I could take risks and try my hand at a new craft without too much fear of judgment or failure. I still have stories to tell and questions to pose. Being simultaneously an MIT student and a writer is difficult, but I now know that it’s possibleâ€"and I would say, even necessary: for a fresh perspective, for a new angle, for a different mental dexterity, for getting out of a rut. I have a new confidence and a better understanding of my ability to communicate, to put my mind in ink and text and feed it to another person. So here’s to writing more and writing often, stories told, retold, and as yet untold. Things I wrote this semester, and their prompts: LOSS (the monologue) Soapbox (the play about a box) A Matter of Life and Death (the play about motivation) Unresolved Sexual Tension (the play about context) Ad Astra, Per Aspera (the play about broken rituals) The Elephant in the Cage (the play about a life-changing activity) Institutional Practice (the play about a man whose foot is crushed in a factory accident) Therapy (the play about a boy with glowing eyes) Engineering Ethics (the play that cant be staged) Hearts. Sleeves. (the last play)

Website Use Greatly Increases Knowledge of Breast Cancer...

Website Use Greatly Increases Knowledge of Breast Cancer It is the second leading cause of death in the United States, killing thousands of people each year. Cancer has certainly become a growing epidemic in our society, and breast cancer is one of its most prevalent forms. One in nine women will develop breast cancer in their lifetime, making it the most common form of cancer in women, and for many of them, this will mark the end of their life. This plague clearly needs to be taken under control, and organizations like the National Alliance of Breast Cancer Organizations (NABCO) intend to do just that. NABCO and other similar organizations aim to educate people about breast cancer in order to ultimately†¦show more content†¦The first tab reads â€Å"home,† which is the page that the site opens with, and clicking on this tab will take the user back to this page whenever they have gone elsewhere. Right beneath its name on its homepage, NABCO writes its slogan: â€Å"The more you know, the less you fear.† These words alone really seem to state their goal right away- this is an informative and educational site. Women who are educated about breast cancer are not only more likely to take the necessary precautions to avoid developing the disease, but also are more inclined to know how to deal with it if they do find this disease plaguing their lives. Therefore, educated women have less to fear, making this slogan very accurate to NABCO’s purpose. This slogan also does a lot to establish the site’s pathos appeal. Mentioning such an emo tion as â€Å"fear† in conjunction with breast cancer causes women to want to find out more about the disease in an attempt to avoid this â€Å"fear† invading their own lives. NABCO has been operating for seventeen years now, and, as it states on its homepage, is â€Å"the leading non-profit information and education resource on breast cancer in the U.S.† This statement says a lot about NABCO’s credibility, really developing its ethos appeal. However, it also says a lot about the organization’s purpose. Since it is a non-profit organization, it is truly believable that its sole intent is to educate, rather thanShow MoreRelatedParenthood : A Non Profit Organization That Does A World Of Good?966 Words   |  4 PagesDo you think it’s right to defund a non-profit organization that does a world of good? I most certainly don’t. Planned Parenthood protects, supports, and educates our society greatly from the services they provide. This essay will provide evidence and reasoning that prove that Planned Parenthood is a beneficial necessity for society, proving that it would be a horrific mistake if Congress chose t o defund Planned Parenthood. First things first, it is important to know that Planned Parenthood mainlyRead MoreHigh Energy X Ray Machines881 Words   |  4 Pagesmachines began to be developed and advertised. By 1937 these new machines could achieve one MV of radiation. This greatly improved the success rate of cancer treatments using radiation therapy. Inoperable cancers such as cervical and larynx cancers were now able to be cured by using these high energy x-ray machines (Robison). In less than fifty years a new treatment method for cancer had been invented and it was improving rapidly. Along with this new treatment there would need to be new safety measuresRead MoreAccuracy And Accuracy Of Knowledge1595 Words   |  7 PagesKnowledge is considered accurate when there is sufficient evidence that it is the truth. Over time, methods of verifying the accuracy of knowledge change. As learners, we often equate accuracy with the value of knowledge, however, the value of accuracy is dependent on the area of knowledge under consideration. Today, accuracy in the natural sciences is vital as any error can be catastrophic. In 1986, a flawed reactor and human error caused the Chernobyl disaster that exposed millions to radiationRead MoreEssay on Abortion Needs to be Limited and Regulated1679 Words   |  7 PagesPregnancy can be either wonderful, or terrifying. Complications result in miscarriages and deaths every day, and the weight of that knowledge can drown any expectant mothers joy in anxiety. Fear for the life that the child will lead, or even fear of how the child was conceived can send many to the abortion clinic or the nearest hospital that provides this procedure. However, many women who choose to end their child’s life may not realize the pain they are putting themselves through, and the alternativesRead MoreReducing Client Costs And Client Incentives1682 Words   |  7 Pagesthought the website gave some great and helpful information regarding interventions that can be addressed for cancer. Although, there are certainly some areas I believe that could be addressed better or explored in greater depth. In all three cancers small media, client reminders, and one-on-one education seemed to be the best intervention approach. Brochures, calls, and assistance scheduling are all specific small media that are being utilized to better help and remind people for cancer screeningRead More DNA Chip - Genetic Testing of the Future Essay2397 Words   |  10 Pagessides Public policy pertaining to genetic testing and the use of the DNA chip and My personal opinion regarding the use of the DNA chip. Definition of Genetic Testing Genetic testing is the analysis of human DNA, RNA, chromosomes, proteins, and certain metabolites in order to detect heritable disease-related genotypes, mutations, phenotypes, or karyotypes for clinical purposes (6). There are several genetic tests currently in use which are used to look for a possible predisposition to certainRead MoreThe Internet-a Curse, Not a Blessing1519 Words   |  7 Pagesincluding violence against women. Moreover, even without purposely clicking onto pornography links, unwanted sexually explicit ‘pop ups’ plague the average Internet user’s computer. I remember once doing a research paper on breast cancer, when upon typing in the word ‘breasts’ onto a particular search engine, literally scores of sexually explicit ‘pop ups’ terrorized my computer. They fiendishly popped up, one after the other as I worked feverishly to close those malevolent sites before anyone passRead MoreAnimal Testing Should Be Outlawed17 52 Words   |  7 PagesAnimal testing is abusive, ineffective, and should be outlawed. The use of animals in life sciences has been in laboratories for over a century. The American Medical Society endorses allowing testing of all animals to create new medicine or treatments for humans. Ever since animal testing has been put into action, many people have expressed their ethical and scientific unease about the experiments. Not only does the procedure cause the creature physical pain and psychological distress, but also itRead MoreReflective Practice in Oncology Nursing3668 Words   |  15 Pageshealth and illness and across all setting of care. Nurses assess and plan care to deal with the multidimensional range of needs for those faced with cancer. Nurses have been integrally concerned in efforts focused on cancer prevention, and they also are essential in the emerging area of clinical heredity for prevention and early detection of cancer. I am a staff nurse with more than ten year s of experience in oncology department; I have developed the oncology nursing skill in a one of the privateRead MoreGenetically Modified Foods Should Be Banned2637 Words   |  11 Pagessomething related to seafood be found in a vegetable? This is where genetically modified foods enter the picture. Genetically modified foods are unnaturally produced. Their consumption has been linked with several serious health disorders including cancer. Presence of genetically modified food in the market must be banned. This is a weakly regulated practice and is not only damaging human health but is also slowly but steadily affecting the environment. Genetically modified organisms (GMO) were introduced

Argumentative Essay on Fathers Role in Childs Upbringing

Argumentative Essay on Fathers Role in Childs Upbringing Father’s Role in Child’s Upbringing It was always well-known that father is an important and very influential person for everyone, although in the past his role was often underestimated. Why it was so? Why has this situation changed? I will explain my point of view. The standpoint that father is not so important for a child was formed first of all because children from the very moment of their birth are more attached to their mother, as they need their milk, love and care. Moreover, fathers are often busy at work, seeing their children less frequently. But what is peculiar, men often spend the time they have with children not so eagerly, or don’t want to do it at all. I think that one of the main reasons for this lies in their wives. They are somehow sure that their men won’t be able to cope with the kid and will do harm to them. Thus, they limit even that minute amount of time fathers have for children to almost nothing. And men start to think that it is right and that they are not responsible for their children till it is time to take them from some night club. But they can’t be more wrong, as well as their wives. Father is extremely important for successful development of child’s psyche. He can teach his kids so much, and, what is important, his children are eager to receive this knowledge and are always happy to listen to everything their father tells them. And it is so important for each mother to encourage her husband to spend more time with his children, and spend it productively. Fortunately, nowadays the situation I described above happens more and more rarely, and now fathers start to take care of their children from the first days of their life. And I think that it is the best situation that can be. It signifies that our society becomes better and better and the next generations, brought up with more father’s influence than ours, will be much better and happier.

Ethics in Social Work Free Essays

In psychology and social work, dual relationships and clinical boundaries are often common. They are often unclear and most times the professional has a difficult time noticing them developing. Ethical dilemmas are found in all professions, but are often different in type and solutions. We will write a custom essay sample on Ethics in Social Work or any similar topic only for you Order Now They are hard to identify and even harder to make a clear decision. Dual relationships and clinical boundaries are one of the biggest ethical dilemmas social workers face because of the difficulties of finding the line between the professional role and the empathetic role a social worker plays. Social work is a profession that helps to solve complex human problems and create a more just and caring society. One of the foundations of social work is the focus on the strengths, as opposed to the shortcomings, of individuals, families and communities so that creative solutions for complex social problems can be found. The profession is characterized by a steadfast commitment to social justice in the service of empowering individuals, families and communities to meet their needs. Few professions offer many different types of employment opportunities. Social workers serve as counselors, in adoption, domestic violence, rehabilitation, hospice, mental health, youth, community development workers, public policy analysts, global rights workers; and in juvenile and adult justice systems, just to name a few. However, the main job of a social worker, however, is to help the client to reach a more stable environment, but to go about it a specific way dependent on the job the social worker held. Each job might come with different ethical problems, but social workers have to follow a strict code of ethics that have guidelines to help them make the correct decisions. The NASW, National Association of Social Work, is the largest group of professional social workers. It is the group that wrote the NASW code of ethics, which are followed by all social workers across the United States (NASW, 2008). Ethics are the underlying rules put in place to help society better function. Usually, they are hard to identify and can be interpreted in many different ways. Each person has their own ethical standards, which is why it’s necessary to have ethical codes that make it more general and help each professional make his or her own ethical decision. Ethics play a huge role into social work. Without an ethical background or a code of ethics it could harm not only a client, but also the social worker himself. The biggest struggle that comes along with ethics is the fact that each individual usually interprets them differently. Ethics is two things. First, ethics refers to right and wrong that advise what humans should do, in terms of rights, obligations, benefits to society, fairness, or specific virtues. Ethics can refer to those standards that make humans refrain from rape, stealing, murder, assault, slander, and fraud. Ethical standards also include ideals relating to rights, such as the right to life, the right to freedom from injury, and the right to privacy. Secondly, ethics refers to the study and development of one’s ethical standards. As mentioned above, feelings, laws, and social norms can deviate from what is ethical; therefore it is necessary to constantly examine one’s standards to ensure that they are reasonable. The NASW Code of Ethics was written to serve as a guide to the everyday professional conduct of social workers. It includes four sections. The first section, â€Å"Preamble,† summarizes the social work profession’s mission and core values. The second section, â€Å"Purpose of the NASW Code of Ethics,†Ã‚  provides an overview of the Code’s main functions and a brief guide for dealing with ethical issues or dilemmas in social work practice. The third section,  Ã¢â‚¬Å"Ethical Principles,† presents broad ethical principles, based on social work’s core values, that inform social work practice. The final section, â€Å"Ethical Standards,†Ã‚  includes specific ethical standards to guide social workers’ conduct and to provide a basis for adjudication. The Code of Ethics, as used today, was approved  by the 1996 NASW Delegate Assembly and revised by the 1999 NASW Delegate Assembly. (NASW, 2008) The NASW code of ethics is used to help guide social workers when it comes to making ethical decisions in the field. It is used to help give every therapist and client the same treatment and ethical decisions. Usually, each profession has a different code of ethics due to the fact that each profession has a diverse set of ethical issues that come with it. Dual relationships or multiple relationships are interactions in which a client is treating a patient, but is also interacting with them in some other way. It can also be if a therapist is in a professional role with a person and promises to enter into another relationship in the future with that person or someone closely related to the individual. Dual roles refer to two different roles and multiple roles are when more than two overlapping roles exist. For example if a therapist is treating their child’s teacher, their child’s friend, having sexual relations with the client, or are close to the client in some way. Dual relationships are against the APA ethics code and can cause harm to the patient in some cases. A therapist should never work with people who he or she might have to interact with on a causal level instead of a patient-therapist level, not only for the patient’s confidentiality, but also to help keep the therapist from giving preferential treatment (Barnett, Vasquez, Moorehead-Slaughter, Johnson, 2007) Dual relationships can also allow a therapist to misuse their power and influence. The practitioner is in a position to exploit the client for his or her own personal gain. The problem of the dual relationships and the second relationship, the counselor is now susceptible to other interests (personal, financial, or social) that he or she may put before the best interests of the client. Problems that arise usually occur when the professional boundaries are not clear to begin with. Therefore, boundaries should be included as part of the intake paperwork. The wording should be clear and specifically state the therapist’s intentions. The therapist-client relationship is one that does not permit contact in a casual manner outside the therapy session. This includes work relationships, social conversations or any type of romantic or sexual contact. † The therapist can state something about not giving personal information to a client, as there is no need for them to know this kind of thing. If the client signs the consent form, a contract is in effect and should not be breached by either party. Not only does the therapist have to gauge the client and the way he or she processes things, but also what the client could take inappropriate. Although it may seem appropriate in a therapist’s eyes it could be inappropriate in the client’s eyes and vice versa. (Syme, 2003) The therapist has to keep a close eye on their actions and make sure their client is not seeing it differently than they are. There are three factors that counselors should consider. First, there is a greater risk of harm when the expectations of client and counselor are mismatched. When clients have one set of assumptions about the ground rules of the relationship, and the professional has a different set of assumptions, there is an increased chance of susceptibility. Another factor is that there is potential for divided loyalties and an associated loss of objectivity. Counselors who have personal, social or business relationships with their clients, are at risk because their self-interest may be involved and thus compromise the client’s best interest. Finally, by the very nature of the counselor/client relationship, clients are more dependent, have less authority and are vulnerable. Due to this power differential, it is the responsibility of the professional to ensure that the client in the relationship is not harmed. One key feature of boundary issues is a conflict of interest that harms clients. Conflicts of interest occur when professionals find themselves in a relationship that could prejudice or give the appearance of prejudicing their decision-making. Thus a counselor who provides services to a client with whom he would like to develop a sexual relationship faces a conflict of interest; the professional’s personal interests collide with his or her professional duty to avoid harming his or her client. Zur, American Psychological Association, 2007) Social workers should be alert to and avoid conflicts of interest that interfere with the exercise of professional discretion and impartial judgment. Social workers should also inform clients when a real or potential conflict of interest arises and take reasonable steps to resolve the issue in a manner that makes the clients’ interests primary and protects clients’ interests to the greatest extent possible. In some cases, protec ting clients’ interests may require termination of the professional relationship with proper referral of the client (standard 1. 6[a]), NASW, 2008). The code goes on to say that â€Å"social workers should not engage in dual or multiple relationships with clients or former clients in which there is a risk of exploitation or potential harm to the client† (standard 1. 06[c], NASW, 2008). While treating someone in therapy, a counselor has to be careful about how their patient is going to interpret their actions and words. When a patient is in therapy, a lot of times they don’t have anyone around to support them and help them overcome their obstacles. That being said, it’s the job of the therapist to be that person for their client and help them to succeed. As a client gets closer to his or her therapist, sometimes the slightest of things can be taken in the wrong way. For example, as trust is built the slightest of things can trigger a client to see their therapist in a different light. As a counselor, a pat on the back, hand touch, ect can seem like nothing to you, but to the client can seem like a sexual advance. This an be detrimental to a client and can break all the trust the therapist had built up, putting the patient back to the beginning of the process (Smith, Fitzpatrick, 1995) When the psychologist and the patient develop an extracurricular relationship, this dual relationship can threaten the psychologist’s ability to act impartially as a therapist and the patient’s ability to receive proper treatment in their vulnerable state. If psychologists are not held accountable to prevent this type of behav ior, they can harm the reputation of all clinical psychologists. Personal relationships imply a bias and the private relationship can cross over into therapy and treatment. The term â€Å"conflict of interest† applies to dual relationships because no matter how objective a psychologist tries to be, their own emotions may taint their trained perceptions. Conflict of interest can be applied to a variety of situations, such as the psychologist should not treat a family member or close friend due to the possibility of favoritism or being non-objective, and could interfere with the treatment being given and received. The psychological ethical codes clearly prohibit the interaction of a personal relationship between the psychologist and the client. Dual relationships and clinical boundaries are one of the biggest ethical dilemmas social workers are faced with; trying to find the line between the professional role and the empathetic role a social worker plays. This being said, as a social worker it is important to distance the client, but also to build trust. It takes time to learn the boundaries and how to avoid crossing them. This is just one of the biggest challenges social workers have to overcome in their field. Reference Page: Barnett J, Lazarus A, Vasquez M, Moorehead-Slaughter O, Johnson W (2007) Boundary Issues and Multiple Relationships: Fantasy and Reality; Professional Psychology: Research and Practice, 38 (4) 401-410 doi: 10. 1037/0735-7028. 38. 4. 401 Herlihy, B and Corey G. (1992) Dual Relationships in Counseling. Alexandria, VA: American Association for Counseling Development Reamer, G. F. PhD (2011, October 13). Eye on Ethics Social Work Today, retrieved from http://www. socialworktoday. om/news/eoe_101311. shtml Smith, D. and Fitzpatrick, M. (1995) Patent-Therapist Boundary Issues: An Integrative Review of Theory and Research, Professional Psychology: Research and Practice, 26 (5), 499-506 doi: 10. 1037/0735-7028. 26. 5. 499 Syme, G (2003) Dual Relationships in Counseling and Psychotherapy: Exploring the Limits, London: Sage Publications Zur, O and American Psychological Association (2007) Boundaries in Psychotherapy Ethical and Clinical Explorations. Washington, DC : American Psychological Association http://www. socialworkers. org/pubs/code/code. asp How to cite Ethics in Social Work, Essay examples

Cash Flow Analysis free essay sample

Several factors have made Interco an attractive takeover target: 1) Interco’s stock is undervalued due to poor performance in the apparel and general merchandising divisions, which have weakened Interco’s valuation as a whole. 2) As stated by the equity analysts, Interco is an over capitalized company with potential to grow, which makes an acquisition easy to finance. 3) Interco is also a cash generative target for a potential acquirer as it generates approximately $0. 10 of operating cash flow for every dollar of sales. ) The company is also structured in a way that it could be broken up and sold into its constituent parts, which could prove to be worth more than the whole. 2. As a member of the Board of Interco, neither the Premiums Paid Analysis nor the Comparable Transaction Analysis is very convincing. ?Premiums Paid Analysis – At first glance, the premiums paid analysis indicates that the Rales Proposal undervalues the stock relative to other recent transac tions. We will write a custom essay sample on Cash Flow Analysis or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page However, this measure has limited reliability in that it is not directly related to the company’s financial outlook. Additionally, this analysis does not indicate which industries are being used as comps, so it is impossible to tell how relevant this data really is. ?Comparable Transaction Analysis – Since Interco is a conglomerate, no one industry segment will provide an accurate measure of the effectiveness of the Rales Proposal in the aggregate. Also none of the comps are even close in size to the aggregate valuation range of the Rales Proposal. Therefore, thee comps may not be relevant as smaller companies may have different growth and profitability dynamics. . See Discounted Cash Flow Analysis #1 for a discounted cash flow analysis using Wasserstein’s assumptions, which support their proposed valuation range. As a member of the Board we would question the following assumptions: †¢Assumptions related to the apparel division seem higher than warranted: oThe projected growth rate of 7. 1% is significantly higher than the recent historical performance of -10% and -. 5% for the l ast two years, respectively. oThe projected operating margin of 6. 4% is much higher than the recently declining trend of 7. %, 5. 5% and 2. 5% for the last 3 years, respectively. †¢Footwear division’s projected growth rate of 6. 3% is significantly lower than the recent performance of 19% and 34% over the last two years respectively. Also, it is projected to be the lowest of the four divisions despite being the best performer recently. †¢Terminal value multiples of 14x-16x seem high. The Board should ask for additional support to validate these assumptions †¢Discount rate of 10-13%. 10% seems low given the corporate bond rates and the risk free rates given in Exhibit 14. We should also perform a Weighted Average Cost of Capital calculation based on the desired equity return of the investors and the potential Debt/Equity ratio. A preliminary estimate assuming a 60%/40% D/E ratio, a required equity return of 20%, a required debt return of 10% and a 41% tax rate would require a minimum discount rate of 11. 5%. 4. Given the information provided, $70 seems like a reasonable offer worthy of consideration. The $70 offer is in range based of the Wasserstein analysis and Rales has indicated its willingness to increase the bid if supported by further due diligence. There is no reason to believe that Interco could potentially get a higher bid given that no other suitors exist and also given the recent performance of the stock prior to the news of the initial takeover offer. The stock was trading in the $32. 25-$53. 25 range over the last 2 ? years with an average trading price $41. 50. Additionally, if the management team rejects the bid, it still must execute a restructuring plan in order to unlock the true value of the firm. Given the risk involved with this strategy it is uncertain that they would be able to actually increase Interco’s value. Upon further analysis, whereby we adjusted for the appropriate growth rate and profit potential of the Apparel division, we have determined that a more accurate valuation range for Interco is $61 $70/ share. See Discounted Cash Flow Analysis #2 for a revised discounted cash flow analysis and stock value range. As a result, we would advise the board to accept City Capital’s offer based on (i) our revised analysis, (ii) due to the fact that there are no alternative bids for the company and (iii) the risk associated with management’s restructuring plan. 5. The Board When the Board hired Wasserstein, Perella, Co. to stop the Rales brothers it appears it neglected its fiduciary responsibility of the shareholders and worked instead in its own best interests. Instead of attempting to understand the reason for the takeover and analyzing the pros and cons of a potentially friendly merger, the Board threw up an automatic roadblock. The Board is primarily comprised of Intercos top executives out of the 14 named directors, only seven are independent shareholders who are not employed by Interco or one of its subsidiaries or divisions. The Board initially instituted certain poison pill provisions to prevent a takeover. This alone is not indicative of a breach of fiduciary duty to the shareholders, but on August 8, 1988 the Board approved golden parachute protections for Intercos senior executives which would be triggered on acquisition by a third party. The total value of these agreements was $16. 3M. At this time all directors, nominees and officers of Interco (not just those on the Board) beneficially owned only 1. 14% of all outstanding shares of Interco. After receiving the Rales Proposal, the Board attempted to determine the value of Interco based on a third party analysis. This analysis was biased, though, as Wasserstein’s compensation was based on the wrong incentive whereby they receive an additional $3. 8 million fee if they got City Capital rescind the offer and successfully recapitalized the Company. As a result, the Wasserstein analysis was not truly objective. Further, the Board could (and probably should) have made a counter offer to the City Capital proposal rather than rejecting it outright. Wasserstein, Perella, Co Wasserstein faces conflict of interest due to the structure of its compensation agreement. Wasserstein gets a bonus if the takeover does not occur. With this type of perverse incentive, Wasserstein’s objectivity is impaired and its valuation is unreliable. The Rales Brothers The Rales Brothers appeared to correctly identify a target whether for friendly merger or hostile takeover. The Rales are acting deliberately and seriously to acquire Interco. They have filed with the SEC and have arranged financing. They have made two firm offers and have indicated willingness to increase their bid should Interco provide empirical support to justify a higher stock price. The Rales appear to be behaving deliberately, but fairly, as they have announced their intention to potentially break up the company. Drexel Burnham Obviously Drexel is fully on board with this deal. They are highly confident that Drexel could raise up to $1. 375B in capital with an additional $1. 1B in debt commitments from Chase.