Immigration ( Microeconomics) Essay Example | Topics and Well Written Essays - 2750 words

Immigration ( Microeconomics) - Essay Example Infact the issue of immigration has assumed a transnational importance in the last three decades. It is not without a reason that immigration has become a hot topic throughout the Western world in the contemporary times. Politicians and informed citizens are highly polarized in their opinion regarding immigration because of the impact it may have or is supposed to have on the demography, culture and especially the economy of the concerned nations. More then half a million people from varied countries and ethnic backgrounds enter the US every year. As per some conservative estimates, nearly 12 million illegal immigrants presently call the United States their home. The very magnitude of immigration in North America, EU and Australia raises many disturbing questions. Is immigration good for the countries having liberal immigration laws Will the immigrants have a salubrious influence on the economies of these nations Should the immigration laws be further liberalized Do the economies of these countries have the ability and the potential to absorb the large scale skilled, semi-skilled and unskilled workforce generated by accommodating immigration policies Will immigration lead to many related problems like terrorism, radicalism and surplus workforce Pragmatically speaking, immigration is bound to stimulate the Western Economies. At least, the available demographic and economic data points towards this conclusion.It is a basic economic fact that the fast growing economies do have an insatiable hunger for resources, physical capital and above all human capital. So the fundamental query should be that are the major Western economies growing at a pace where they need tremendous input in terms of human capital from other countries It will be really interesting to look into the economic prospects of some of the topmost Western economies. As for the US economy, the data furnished by the authentic and reliable global organizations like the World Bank, the International Monetary Fund, and the Organization of Economic Cooperation and Development, targeted at the eight years of Bush's presidency indicate a pink and plump state of affairs (Perry). According to the World Bank statistics, the GDP per capita in the United States rose to $ 41,813 in 2005 (Perry). As per an IMF report, between the years 2001-2008, the real American GDP "grew at an average annual rate of 2.2 % (Perry)." The unemployment rate in the US also stood at a tolerable and stable figure of 4.7 % between 2001-2007 (Perry).Gross Domestic Product (GDP) Growth - United States - USA (%) 2.5 3.7 4.5 4.2 4.4 3.7 0.8 1.6 2.5 3.9 3.2 3.4 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Gross Domestic Product (GDP) Growth - United States - USA (%), Source: Eurostat(euroekonom.com) European Union, which is the largest economic and trading block of the world, is also expected to outperform the past expectations in terms of economic

Effect of the Black Death in England on London's culture, population Essay

Effect of the Black Death in England on London's culture, population and economy between 1348 and about 1500 - Essay Example The manner in which the plague quickly spread is rather disheartening. The action of the Sicilians to close their Messina port necessitated the ships from the east to seek available port alongside the Mediterranean. As such, the plague quickly grew and spread into the nations where these plague harboring ships anchored. In this way, the plague was responsible for the demise of approximately one third’s of England’s population. In approximately four years, the plague had covered almost the entire world. This illustrates the grave situation that had been fashioned by the plague. As such, it is imperative to analyze the exact impact of this plague on England as a whole. The steady growth that had characterized England prior to the plague experienced a sudden turn. The extent of deaths that were being realized from the plague has a resounding impact on the religious, economic, social and political structures. The fact that the ships could not anchor in Messina was not enoug h grounds to explain the sporadic nature of the spread of the plague. In sourcing the answer to this question, the situation that existed in England prior to the incidence of the Black Death, has to be highlighted. The source of the plague was from the fleas that were preset in animals. This is especially the big black rats. As long as the animals were alive, the fleas stayed with their host. However, a problem arose when these animals died; and the fleas had nowhere to go. In their search for a new host, they tended to also attack humans. As such, the fact that the plague killed one third of the entire England population, it left a significantly large impact on the political, economic and religious structure of England. At the time of the plague, England had been fiercely catholic; as such it is imperative to outline the impact of the Black Plague on religion in England. The plague had its most catastrophic impact in the cities (Sloanb 45). This is based on the fact that the cities had been characterized by overcrowding. Another factor that aided in this unrestricted spread was the low standards of sanitation in the cities at the time. The relative quick period between infection and ultimate demise had a profound impact on the religious practices at the time. The period of the 14th century was a period of profound religious inclinations. England was largely catholic. As such, it was a convention that people would die with their last rights and having confessed their sins. However, this procedure could not be sustained given the vast number of deaths that were being recorded. This compelled the Pope Clement VI to give remission to all those deaths was a directly sourced from the Black Plague. This is because the clergy were unable to be at the bedside of everyone who died. The religious transformation allowed the dying to confess their sins to anyone at their bedside. So much was the need to have people at the bedside of the dying that people were also allowed to confess to women. This had previously been unacceptable in the catholic religion. However, given the nature of the situation, this had to be accepted. The reliance on the clergy hit low probabilities given the characteristic of the plague in attacking isolated populations exemplified by monasteries. It is no surprise that people thought that the plague was as a result

Weekly Assignment 1 Essay Example for Free

Weekly Assignment 1 Essay In Moore’s proof if an external world, he is attempting to show that we can know things outside of our own us (Moore; 144). He proves this by using the example of showing his hands, pointing at one hand and saying â€Å"here is my right hand† then pointing to the other and saying the same thing (Moore; 144). He states that by just being able lift hand is proof that it exists. He provided three conditions that support his claim which are that; if his two conclusions differ from one another, which they do not. If he knew proof but did not believe it and vice versa; and finally if his conclusion did not follow the premises which it did (Moore ; 145). Moore addresses the issues that readers have about the fact that he is not answering the question. He claims that they are seeking a statement saying, â€Å"Here’s one hand and here’s the other†, to prove external existence by coming up and examining both hands (Moore; 146). This statement is meant to accommodate all the examples of proof of external objects (Moore, 147). It is very unlikely that on exists because for that statement to be true there would have to be an initial proof that a person is not dreaming which is quite difficult to do. Moore also provides an additional proof for objects that have previously existed by saying:† I held up two hands above the desk not very long ago, therefore two hands existed not very long ago and therefore at least two external objects have existed at some time in the past† (Moore; 146). He uses this as a solution to Immanuel Kant’s (1724–1804) problem of the existence of external objects; because it shows that the objects have existed at some point in time (Moore;146). [300 Words] Reference List G. E. Moore’s paper â€Å"Proof of an External World† Taken from Sosa, E. and J. Kim. 2000. Epistemology: An Anthology. Oxford: Blackwell Publishing.

Emotional Appeal Used in Visual Advertising Essay -- essays research p

In almost any commercial you watch today, you will notice that they rarely tell you something about the product being sold. Neil Postman stated, â€Å"The television commercial is not all about the character of the product to be consumed. It’s about the character of the consumers of products† (128). I find this very true. Commercials combine the use of sight, sound, color, motion, and often humor to put forth an effective message. Within a short period of time, these advertisements can capture one’s attention and convince one to buy their product. It doesn’t matter if the product has value, as long as the advertisers are able to make a consumer believe it does. Playing off of emotions is one of the most effective ways to lure people in because you can’t refute emotions. Commercials can effectively manipulate and create false perception using emotional appeal to further benefit the advertiser.   Ã‚  Ã‚  Ã‚  Ã‚  Television commercials are a persuasive form of communication. One sees tons of images of famous people, breath-taking scenery, fun vacations, and of happy families spending quality time together. But what is this telling a consumer about the product? It tells those who may buy them about their own fears, insecurities, anxieties, and dreams. They do this by constantly reminding them that their lives could be better if they buy this or that. These images are used for psychological purposes and to play off of emotions because we are emotional beings. People respo...

Latin american woman from 1825

From 1810 to 1825 women were engaged effectively in different wars of independence against the Spanish.   The most recognized women were the Latin American women who were deeply involved in the struggles for independence especially in the struggle for women’s rights in the broadest sense of economic, political and legal.   The women were also credited for the great role they played in redemocratization and economic reconstruction. IMPACT OF SPANISH CONQUEST ON INCA AND AZTEC WOMEN Many Spaniards moved into America because of the reports of gold.   Many people were pressed into ritual slavery in search of gold. Consequently the local overlords grew rich and the natives remained poor.   The continued success of the local overlords led to Spanish conquest in America. Aztec rulers were ruling around 25 million people who were living in large cities administered by elaborate array of military leaders: priests and government officials. There were also village elders who were united through marriage arrangement between their families and other families. â€Å"Chief speaker† was a body of elected representative elders, and it developed into strong emperor figure and was having great powers.   The Aztec system was theoretically meant the empire enjoyed closer ties of divinity and the priest was to select sacrifices required to keep sun shinning and to see rains falling. The priest was also required to maintain order in the society and during the time the sacrifices were being made. (Tompkins, 2001) The Incas were however weakened in regime from factional fighting and diseases even before the sparkles armored.   Emperor Pizzarro’s forces were captured the empire leading to the destruction of the Incas and then the way was open to Spanish enconmediams to take over the Inca and Aztec empires which were found in the gulf of Mexico. The Spaniards persecuted the people in the two empires and their cities were destroyed and were to be replaced by Spaniard cities.   These people faced horrible time in the Spaniards hands because they were massacred purposely or accidentally by transmitting to them European diseases. The Aztec capital of Tenochtitlan was conquered destroyed and the Spaniards build their own capital: Mexico City (just on the site of destroyed Aztec capital). The Aztec and Inca empires were located in the present Gulf of Mexico and by the time they were conquered they were barely a century old.   Both empires were extending over large areas and were having millions of people.   The conquest of Aztecs by Spaniards was due to the epidemics that had affected them while the Incas were conquered through the impact of deliberate infection of European diseases though they were also weakened by internal conflicts. (D’Altroy, 2002) Aztec community is an ethnic group found in central Mexico particularly those who speak Nahuati language.   They achieved a political and military dominance in the parts of Mesoamerica.   While the Inca Empire was on the other hand the largest empire in the pre- Columbia America. (Michael, 1984) Before the invasion and occupation of Mexican Gulf by the Spaniards the Aztec and Inca women were considered to be lesser members of the society.   The Inca women were given the specific task of making the local brew while the Aztec women were empowered in textiles making.   However with colonialism the roles of women changed women were seen to be in the fore fronts to fight against the inhumaniterian activities that were being done by the Spaniards. During colonization the women were having very great levels of uncertainties because this was the time when sexual harassment on women was on the range of rising. They were also used as maids in the houses of the ruling elites.   These mistreatments generated the uprising of women to fight for colonial liberation which they needed more than the men. Colonialism also saw the abolition of indigenous ways of life for example the use of the indigenous trees and plants to cure some diseases and some agricultural seeds which they treasured were abolished. In their role as the primary protectors of the family the Aztec and Inca women saw this as a threat to their royalties they had valued for long time.   They also fought for land rights; globalization and clear cut cultural identity with no job description for males and females in the society. (Michael, 1984) ROLE OF INDIGENOUS TUPI WOMEN The Tupi women were generally described as indigenous women rooted to domestic domains and so they were not able to fulfill institutionalized political and economic roles.   However this was not easy to achieve because in the indigenous Tupi there were distinct gender regimes and gender symbolism were associated with masculinity, this lead to increased war in Tupi society. These women worked hard to see new complementary spaces opening up to them and most of them even fought for colonial liberation from Europe.   They also demonstrated strong desires and complain to survive the criticism and brutality; they also ensured that they adjusted to resist the myriad colonial changes.   Despite the numerous attempts by the colonial governments the Tupi women were able to negotiate for social and political rights for the society. (Miller, 1991) Traditionally Tupi women were restricted to aesthetics alone for instance, they were required to decorate the housed, and they also painted their men to look delightful all over their bodies like birds or waves of the sea.   The women also painted their own legs so that someone seeing them from a distance may think they are dressed in the black worsted stockings. Council of male elders ruled the Tupi tribes to mean that women had no leadership positions in this tribe.   The elders met almost daily and were only addressed by the chief on how to rule the society.   The Tupi also believed in the real supernatural power but they were not having formal organized form of religion.   They believed in spirits and deonoms making their tribes life to be a form of myth, legend spiritual and ceremonial web. The women were entitled to domestic chores and they also participated in agricultural activities with no voice in administration. They were greatly discriminated upon by the men and were not allowed to make any vital decisions but to listen to and follow orders from their men. (Monteiro, 2000) However after colonialism the roles these women changed greatly with leadership style taking different dimensions. The women participated actively in the fight for colonial liberation giving their cultural and indigenous practices new meaning and approach. The women formed different movements to fight for equal representation in the ruling class as well as liberalized roles for both genders. They wanted an end to the work specification according to gender that had been there in olden days and was also magnified by the Spaniards during colonialism. This is because during the fight for colonial liberation the Tupi women realized their potentials to rule and do other duties better than the men. Their roles eventually changed but they maintained one provision of domestic needs and services mostly decoration of their bodies and houses using traditional approaches. Bibliography D’Altroy, T. (2002), the Incas: peoples of America. Blackwell publishers. Michael, D. (1984). Mexico: From the Olmecs to the Aztecs (ancient people and places) Miller, F. (1991), American women and the search for social justice. Hanover university press. Monteiro, J. (2000), the heathen castes of sixteenth century. Duke university press. Tompkins C, Foster D W, (2001), Notable Twentieth Century Latin American women, Amazon, Green wood press.   

Life After Death By James Joyce - 1544 Words

Sabina Trejo-Garcia Brian Richardson ENGL346 18 November 2014 Life After Death Death is terrifying. Almost everyone is afraid of the uncertain, and what happens to each of us after we die is ironically one of the many unanswerable questions of the living. Despite various explanations from different religions and other theories, there is no definite answer regarding an afterlife. However there can be some validation in saying that there is life after death because the memories of a person remain alive among those who live. The dead affect the living. The dead cast a shadow on the present, and force people to reflect on their mistakes. So even after death, someone can have an impact on the actions of those they leave behind, and this is where life and death intersect. There are many different ways in which the dead affect the living, but perhaps the best examples can be seen through literature. James Joyce was an Irish novelist, and no doubt one of the most influential writers of the early 20th century. Joyce explores the intersection of life and death in, The Dubliners, a collection of short stories. He begins with the story, â€Å"The Sisters,† and ends the collection with, â€Å"The Dead.† In both of these stories, Joyce uses the stream-of-consciousness to show the reader observations of big events through small details in the everyday lives of the main characters. Joyce explores themes such as paralysis, to ultimately show how death impacts the main character of each story andShow MoreRelatedJames Joyces Alter Ego in A Portrait of the Artist as a Young Man929 Words   |  4 PagesJames Joyces Alter Ego in A Portrait of the Artist as a Young Man Works Cited Missing In James Joyces A Portrait of the Artist as a Young Man, Stephen Dedalus, a young man growing up, has many of the same traits of the young James Joyce. For example, On 1 September 1888, at the age of half-past-six, Joyce was taken by his parents to be enrolled in the finest Catholic preparatory school in Ireland, Clongowes Wood College, situatedRead MoreThe Dead By James Joyce Essay942 Words   |  4 Pages James Joyce emerged as a radical new narrative writer in modern times. Joyce conveyed this new writing style through his stylistic devices such as the stream of consciousness, and a complex set of mythic parallels and literary parodies. This mythic parallel is called an epiphany. â€Å"The Dead† by Joyce was written as a part of Joyce’s collection called â€Å"The Dubliners†. Joyce’s influence behind writing the short story was all around him. 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To begin with, Eveline is the story of a young teenager facing a dilemma where she hasRead MoreJames Joyce’s Dubliners Essay1493 Words   |  6 PagesJames Joyce’s Dubliners is a collection of short stories that aims to portray middle class life in Dublin, Ireland in the early twentieth century. Most of the stories are written with themes such as entrapment, paralysis, and epiphany, which are central to the flow of the collection of stories as a whole. Characters are usually limited financially, socially, and/or by their environment; they realize near the end of each story that they cannot escape their unfortunate situation in Dublin. These storiesRead MoreEssay about The Role of Loneliness in James Joyces Ulysses980 Words   |  4 PagesThe Role of Loneliness in James Joyces Ulysses Have you ever had one of those days when the world seems cold and unfeeling? Where the people that surround you are far away and uncaring? 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The History Of Clive Peeters Foundation To Its Collapse Finance Essay - Free Essay Example

Sample details Pages: 8 Words: 2312 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? This report is about the history of Clive peeters foundation to its collapse. It has been examined under various accounting methods like, analysis credit history and various types of ratio analysis based on financial statement from 2006 to 2009. This presentation has been included the compare and contrast with some other companies. Don’t waste time! Our writers will create an original "The History Of Clive Peeters Foundation To Its Collapse Finance Essay" essay for you Create order Basically, highlighted on the causes of collapse, current status of company like, Voluntary administration, receivership, liquidation. The major findings point out that the company had serious defects in its business policy and ultimately failed to deliver due to its heavy reliance on debt attached with some other factors like: bad image caused by the theft of the company accountant, too much discounting, company size and recession. It is concluded with the company foreseeable future by my own view. Contents Page no Company Overview 1 Different types of companies 1 Analysis various Ratios and comments 3 Reasons collapsed of Clive Peeters ltd 6 Status of quo of Clive peters 8 Clive Peeters foreseeable future 9 References 10Table of contents Company Overview: Clive Peeters was one of the largest retailers of electrical appliances which have operated in Melbourne under its present ownership since 1993 and in Brisbane since 2001. The Company was trading as Clive Peeters in Victoria, Queensland, New South Wales and Tasmania, and trade as Rick Hart in Western Australia. It had more than 140 brands and over 20000 individual product models. With 44 stores and about 1300 staffs, it has been suffered by a gigantic financial loss. Earlier three months just before collapsed, it was expected to be the operating loss $4.5 million. It has carried on a huge corruption in its accounts department. A payroll officer had stolen $20 million. Because of Scandals of accounting fraud, huge debts, operating loss, competition with its rival companies, and Model of Sales marketing policy were the main causes of collapse. Clive Peeters financial woes have deepened as bank creditor NAB called in receivership to seize control of the company. And as a result, it w as being placed into voluntary administration. Harvey Norman acquired 32 Clive Peeters retail stores and the companys commercial network for $55 million. (Overview: Clive Peeters Limited Website) Different types of companies: Under corporation act(s 112), mainly two type of companies are permitted to be registered. One is proprietary company another is public company. According to the s 112, proprietary company is classified as limited by share, unlimited with share capital. Likewise, public company is classified as public company, limited by guarantee, unlimited with share capital, no liability company. Other titles of companies would be listed corporation, Disclosing entities, Foreign companies, No- Liabilities companies, Text book 8th edd page no3, 5 Clive Peeters Limited: Clive Peeters is a public company limited by share capital and its ABN is 52 058 868 018. It is a listed company of Australia stock exchange. The Company was incorporated in Victoria on 5 February 1993 and acted as the trustee for the Clive Peeters Electrical Trust (Trust) from 1993 to 31 March 2002. On 1 April 2002, the operating activities of the Trust were shifted to the Company. The Company got hold of all of the shares in Clive Peeters Wholesale Pty Ltd in January 2005. All of the shares of Clive Peeters Home Entertainment (Brisbane) Pty Ltd and Clive Peeters Appliances (Brisbane) Pty Ltd were held on trust for the Company until 1 July 2005 at which time those shares were acquired by the Company. The Company was registered as a public company in Victoria on 14 July 2005. On 20th September 2005, Clive Peeters Limited fully acquired and took control of the Rick Hart Group as well as acquired the business of Michael King Hawthorn Pty Ltd (MK), at the same time. CPA Australia: CPA Australia Ltd (CPA Australia) is a leading advocate of sound corporate governance. CPA is the very important member of Australian Stock Exchange Corporate Governance Council (ASXCGC). It develops corporate governance principal and recommendations (CGPR). It is an unlisted company and limited by guarantee. CPA Australia ABN is 64 008 392 452. According to Company Accounting Leo Hogget Sweeting Redford, p 5. CPA Australia limited by guaranty that means no required share capital for its formation. A public company limited by guarantee is one of which members guarantee to contribute a certain amount in the event of liquidation. Source: (CPA Australia wesite) SingTel Optus Pty Ltd. Singapore telecommunications Limited is listed on the Australian and Singapore stock exchanges. Its a private limited company and limited by share capital. SingTel is the parent company of Optus since 2001. In the Asia pacific region Optus is operating one of the largest strong and strategic telecommunications businesses.(ASX website) Kimberley Diamond Company NL: Kimberley Diamond Company NL is an Australian public company. The main revenue generating source is diamond mining and exploration. It was a public company with no liability. No liability abbreviated NL (ss 148-149) . According to s 112(2) of Act, a no liability company has some criteria to register 1.has a share capital, sole objects are mining purposes and under s 9 mining purposes are defined. According to Company Accounting by Leo Hogget Sweeting Redford, eight edition, p 6. Kimberley Diamond Company NL was a ASX listed Company before2008. After that it company was acquired by Gem Diamonds Australia Pty Ltd, and re moved from the official ASX list.source: (www.ibisworld.com.au) Here, above discussion we can able to find out all four companies including Clive petters ltd. Are different nature different formation even different activities. Clive Peeters is a public company limited by share capital and ASX listed company, CPA Australia is public company limited by guarantee ASX unlisted company nature is corporate governance, SingTel Optus Pty Ltd is a private company limited by share capital and listed on both the Australian and Singapore stock exchanges, nature of business telecommunications. And Kimberley Diamond Company NL was a public company with no liability but it had a share capital and it was listed before 2008.nature of business was mining. Analysis various Ratios and comments: Debt Equity Ratio: It points to what proportion of equity and debt the company is using to finance its assets. A high debt/equity ratio generally means that a company has been aggressive in financing its growth. Year 2006 = 87.6/71.6=1.22 Year 2007 = 118.1/77.6=1,52 Year 2008= 174.8/80.2 = 2.18 Year 2009 = 150.8/69.4 = 2.17 Analyzing the result of Clive peeters, we can say that there was really aggressiveness in finance invested for its rapid growth. We can see from the above figures that Clive Peeters Limiteds debt-equity ratio increased significantly over the years from 2006 to 2009. This meant that over the years Clive Peters Limited had relied a lot on borrowings from external lenders for their business activities. The Debt Ratio: It indicates what proportion of debt a company has comparative to its assets. The formula of debt ratio= Total liabilities / Total assets For the year: 2006: Debt ratio =87513000 / 159161000 =ÂÂ  0.55 2007: Debt ratio = 118114000 / 195672000 = 0.60 2008: Debt ratio = .1991433000 / 5367682000 = 0.68 2009: Debt ratio = 150775000 / 220178000 = 0.68 Analyzing results of all years, it found that all debt ratios were less than 1. That means, its indicated indicates thatÂÂ  a company has more assets than debt. Current Ratio: A liquidityÂÂ  ratio that measuresÂÂ  a companys capability to pay short-term obligations The formula is: Current Ratio = Current assets/ Current liabilities. The ratio is mostly used to give a suggestion of the companys ability to pay backÂÂ  its short-term liabilities with its short-term assets. The higher the current ratio, the more capable the company is of paying its obligations. A ratio underÂÂ  1 suggests that the companyÂÂ  wouldÂÂ  beÂÂ  unable to pay offÂÂ  its obligations if they came due at that point. Here, Clive peeters current ratio was: For the year 2006: current ratio = 115,251000 / 8,3475000 =1.38 For the year 2007: current ratio = 140526000 /114,882000ÂÂ  = 1.22 For the year 2008: current ratio =4,813,101ÂÂ  000 / 1,830,538000= 2.63 For the year 2009: current ratio =158,853ÂÂ  000 / 111,208ÂÂ  000=1.43 It indicating that clive peters current ratios was entering into danger zone up to 2009. Acid Test Ratio: This test indicatesÂÂ  whether a firm has enough short-term assets to cover its immediate liabilities without selling inventory. Companies with ratiosÂÂ  of less than 1 cannot pay their current liabilities and should be looked at with extreme caution. Acid test ratio =Cash + Accounts Receivable + Short-term Investments / Current Liabilities There is an another formula= Current Assets Inventory / Current Liabilities Acid test ratio, for the year: 2006: = (115, 251000 74061000) / 8,3475000 =0.49 2007 = (140526000 98906000) / 114,882000ÂÂ  = 0.36 2008 = (4,813,101ÂÂ  000 2550283000) / 1, 830, 538000= 0.42 2009: = (158,853ÂÂ  000 108080000) / 111,208ÂÂ  000= 0.46 Its proved that over the period Clive peters was not capable to pay current liabilities. The Times Interest Earned (TIE) Ratio: The formula is: Earnings before Interest and Taxes (EBIT) = Total Interest Charges (IT) For the year: 2006=19.51 /1.4 =13.94 2007 =20.57 /27.02 =0.75 2008 =17.03 /16.07 =1.04 2009 = 11.65/3.42= 3.42 From the above calculations are showing Clive Peeters Limiteds Times Interest Earned ratio dropped significantly to a negative figure on 2009 which eventually forced Clive Peeters Limited to be declared as bankrupt Reasons collapsed of Clive Peeters ltd.: The collapse of Clive Peeters did not come as a shock to many in the retail sector. it appeared that the company had been punched by a $20 million accounting scandal in august 2009 , than industry experts had realised that it would be fallen into deep trouble within shot time. Earlier this year 2010 Clive Peeters was expected its operating loss for the three months to March 31 be $4.5 million The key creditor of clive peters in Banking sector Natioal Australian Bank ( NAB ) formerly placed Clive Peeters into receivership. It was the moment of its fallen down . Huge debts slay of its endurance desires: Clive Peeters financial report for the six months to December 31 shows the company had total debt of $160 million at December 31.the reasons of this debt was it was trying toexpand its business as soon as possible, so that it had acquired some smaller competitors by increasing its debt. In the earlier boom years its business was good, because consumer has money and economy was going well , consumers were buying plasma tvs etc, but when , downturn of economy its debts become a headache since march 2009. NAB disagreed to cover its debt anymore. Within 12 months its become mostly sick business who could survive anymore. Market policy: Most whitegood retailers, Clive Peeters was being alive and passed away on its ability to stay alive on poor margins. In this sector, Harvey Norman, JB Hi-Fi and The Good Guys are constantly on sale and constantly offering discounts to tempt consumers. With discounts widespread retailers like Clive Peeters require to rely on volume. Competition: Its another reminder that in many sectors, the Australian economy only supports very big or very small companies. Clive Peeters had 45 stores where Harvey Normans more than 100 stores,it may have found itself in a dangerous middle ground not big enough to battle with the extent and financial power of Harvey Norman, and too big to be seen as a specialist niche retailer. While the Top company like Harvey Norman can avoid discounting wars and operate business its own desires by focussing on service. Specialist products or a certain area of the market, mid-sized player like Clive Peeters have no choice but to take on Harvey Norman at their own discount game. Its another reminder that in many sectors, the Australian economy only supports very big or very small companies. Accounting Scandal: Clive Peeters suffered with an accounting scandal when a Female payroll officer Sonya Causer, 39 allegedly stole $20 million. This fraud made a scary thing for its all investors and creditors, suppliers. Plenty of irregularities in accounting sector made really a unstable situation in market. Above discussions we can say, these were the main causes of Clive peeter collapse. Status of quo of Clive peters: At the first meeting of creditors held on 28 May 2010, Mr Brendan Richards and Mr George Georges of Ferrier Hodgson were appointed as replacement joint and several Administrators of the Clive Peeters group. At a second meeting of creditors held on 20 July 2010, determined to place some entities( Clivpee Ltd Clivwho Pty Ltd , Clivpkb Pty Ltd , Hi-Fi Corporation (WA) Pty Ltd , NTFQ Pty Ltd ,Rickhar Pty Ltd .) into Liquidation. For that, George Georges and Brendan Richards were appointed Liquidators pursuant to Section 499(2A) of the Act to wind up the Companies affairs and distributing its property. (Source:www.asic.gov.au) There are different kinds of external administration in case a company is in financial hardship. The major three of these are as follows: Voluntary administration: Voluntary administration works with insolvency process where the directors of a financially troubled company or a secured creditor with a accuse over most of the companys assets appoint an external administrator called a voluntary administrator. Appointment of A voluntary administrator: commonly companys director, less commonly by liquidator, provisional liquidator, or a secured creditor. Receivership: A company most usually goes into receivership when a receiver is appointed by a secured creditor who holds security over some or all of the companys assets. The receivers primary role is to collect and sell sufficient of the companys charged assets to repay the debt owed to the secured creditor. (Source: www.asic.gov.au) Liquidation: Liquidation is the winding up arrangement of a companys dealings. It engages realizing the companys assets, termination or sale of its operation, distributing the proceeds of realization among its creditors and dealing out any surplus among its stakeholders. (Source:www.asic.gov.au) Bottom of Form Clive Peeters foreseeable future: It is very difficult to survive in current situation if the current administrators be returned to the directors; it would not able to helping any way to reboots Clive peters. In my view, where its debt is massive against the assets there is no way to keep alive Clive peters for future competitive business arena. It is better to go into enter into liquidation of whole group of business. Another way, we all know that 32of the Clive Peeters stores were bought by Harvey Norman Holdings Limited after it went into voluntary administration. Its original name was kept as it is and its staffs in some of its stores were being able to keep their jobs. In my view, though Harvey Norman has bought part of its business, to keep the company afloat more money needs to be injected and its whole business structure needs a restructuring. Otherwise, it is going to be very difficult to keep Clive Peeters Limited from getting liquidated.