Friday, January 31, 2020

Java Spring MVC Programming Introduction Essay Example | Topics and Well Written Essays - 1000 words

Java Spring MVC Programming Introduction - Essay Example This module of the spring framework supports all popular data access frameworks in Java: oracle, JDBC, oracle toplink, Apache OJB, JPA, JDO, Hibernate, Apache Cayenne etc. For all the supported frameworks, spring provides Resource management, Exception handling, Transaction participation, Resource unwrapping, Abstraction The transaction management module brings a mechanism of abstraction to the Java platform with the following capabilities: ability to work with nested transactions, ability to work with savepoints, ability to work on local and global transactions, ability to work on almost all Java platform environments. It provides a first class support which is used for the purpose of testing spring MVC apps without a servlet container and with a fluent API. Tests on the server side use the DispatcherServlet while tests on the client side make use of the RestTemplate. This class has a @ExceptionHandler method which is used to handle standard spring MVC exceptions and return a ResponseEntity that allows customization and writing of responses with HTTP message converters. The structural elements of a spring application contains various elements which include introduction page, A page controller, A unit test class for the page controller (Risberg, et al., 2009), A view page and the DispatcherServlet (this is known as the Front Controller and is used by the web server based on the configuration on in

Thursday, January 23, 2020

Stanley Kubricks Full Metal Jacket and Eisenharts You Cant Hack It Little Girl :: essays papers

Stanley Kubrick's Full Metal Jacket and R Wayne Eisenhart's â€Å"You Cant Hack It Little Girl: A Discussion Of The Covert Psychological Agenda of Modern Combat Training,† Stanley Kubrick uses his film, Full Metal Jacket to say that people today are brainwashed products of decades of conditioning. Kubrick strongly encourages us to relish individual thought. He expresses that society’s ideology encourages conformity, which can eventually cause fatality. Also the article â€Å"You Cant Hack It Little Girl: A Discussion Of The Covert Psychological Agenda of Modern Combat Training† by R Wayne Eisenhart realizes the extreme repression on individuality in the Marines. We all like to think of ourselves as individuals. However, in truth, we all live in a mass denial created be ourselves to feel less guilty about instituting severe pressure to, and the consequences if one does not, conform. The way one learns about oneself is often through others’ words and actions. This outside feedback creates a role for a person that he/she accepts as â€Å"who he/she is.† Therefore, it is the words and actions of another that forms the self-identity of a person, and ad this relationship develops, positive, reinforcing words and actions become necessary for ones healthy existence. Of course, there are varying degrees of conformity, and in most people there is the struggle to hold on to their individuality. This struggle is apparent in the scene in Full Metal Jacket when Gomer Pyle is beaten with soaps in towels. The other members of the troop become upset at Pyle’s nonconformity, and their negative feelings eventually reached the point of v iolence. Then Pyle’s struggle was ended and he became like the others, a killing machine. In his article, Eisenhart recognizes that â€Å"the training process created intense emotional conflicts generated by the formation of a male role,† and that there was a â€Å"continual structured effort to degrade and shape the individuals self-image.† Because all throughout history conformity was a necessary way of life, one may see society now as completely brainwashed. Kubrick depicts the longstanding tradition of the US Marines as a kind of cult where everyone is uniformly behaved and not one thought is individual. Even Joker, who has an image of originality in the film, eventually gives in to the group. First in the scene where he is cajoled in to hitting Pyle with the soap, and second when he struggles with himself, but ultimately conforms by killing the Vietnamese sniper at the encouragement of his peers.

Wednesday, January 15, 2020

Natural disaster risk assessment and risk management

Disasters have occurred in the world over for many years. They have occurred both in MDCs and LDCs. These disasters have either been caused by human forces or natural forces or interaction of both natural and human forces. When they occur they cause serious challenges and consequences to the economies of affected areas or countries. It’s estimated that the world looses over 750 dollars annually as a result of disaster. In most cases, the phenomenon that triggers disasters is beyond human control. In general the loses that causes natural disasters are largely a function of human factors which are human decisions, human actions and human choices or sometimes lack of these. Before I go into specifying a specific human disaster threat, it is important to exactly know what a disaster is or what it means. A disaster means misfortunes or calamities. It can also be termed as an incident of great harm and distress. It’s a serious disruption of functions of society causing widespread human, material or environmental loses that exceed the ability of the affected society to cope using its own resources. In this case, I am going to specifically dwell on earthquake as a natural disaster and its threats. Earthquake is a tremor caused by the disturbance of the earth surface. When it happens it causes great destruction economically, socially and even psychologically to the people living around. Because earthquakes are natural disasters, human have no control over them and this can explain why naturally occurring disasters have serious impact on human society. They only leave human beings with the option of reducing their impacts when they occur. As I have mentioned before, disaster is a result of human force, natural force or a combination of both; management for these disasters have been put in place. Disaster management simply is a body of policy and administrative decisions and operational activities which pertain to various stages of a disaster at all levels. So disaster management body has to come up with personnel and facilities dealing with earthquakes. The personnel includes both the administrative, individuals and community actions who try to minimize loss of lives or/and damage of facilities. This they do through disaster preparedness includes efforts for effective rescue of people involved in the earthquake disaster, relief and also rehabilitation and reconstruction of destroyed materials like buildings. The administration, individuals and community also engage in disaster mitigation which encompasses all measures to reduce the impact the earthquake disaster phenomenon by improving the community’s ability o withstand the impact of the earthquake. This they do through the prevention, preparedness and real response of earthquake disaster during or after which includes relief, rehabilitation and reconstruction. Earthquake disaster will definitely leave behind vulnerable people who are prone to it again incase it occurs again. To be vulnerable is to live with a likelihood that one will suffer from hazardous events. In the society, some people are more vulnerable than others. The nearness to hazardous places the more the consequence one will face. Earlier, earthquake disasters have established that natural hazards are a cause of vulnerability to disasters. People who live or work in certain areas are prone to disasters that may occur to such areas. This means that humans living or working in certain areas make themselves vulnerable to earthquakes disaster, for example if they live in areas of volcanic activities then they are prone to earthquakes or earth movements respectively. Vulnerability is simply reduced to zero by people not living in affected areas. Scientists, technologists and engineers have attempted to predict hazardous events and development of technologies that can enable human structures to withstand earthquakes. The assumption has been that events are acts of nature that cannot be prevented but rather there are possibilities of reducing their consequences. As a result of this, technologies and materials for building and construction for example have been developed so that they can withstand earthquakes or earth movements. In spite of many games in the scientific and technological process to control vulnerability to earthquake disasters people continue to be injured, die and loss of property. One reason for this is because many earthquake disasters predictions and other mitigative technology are costly and individuals and communities are either unwilling or unable to afford them. The costs tend to set criteria for deciding on what mitigation methods to use under various circumstances.   So according to this view, although vulnerability is a cost, vulnerability reduction is itself costly. As I mentioned before, disaster does not choose specific people and the nearer one gets to it or lives near it the more vulnerable he or she becomes. Earthquakes disasters do not choose the poor or the rich but it affects anyone or everyone. So earthquake or earth movement disasters impose a varied number of consequences on the humans, animals, physical and environmental aspects. These consequences can be in view of the time period of a disaster that is either short term, mid term or long term. To UNECLAC, effects of disasters are short term consequences of disaster that comprise of direct damage,, indirect damages and secondary effect. Impacts comprise of economic, social, psychological and environmental impacts. These are mainly long term consequences of disasters. The worst case scenario that determines the degree of risk is whereby disaster occurs because people who are vulnerable simply do not know when the disaster may occur, what protection measures to take and these coupled with negative attitudes towards use of certain measures. This increases human suffering from disastrous situation. A good example here is a case where by simple earth tremors or movements occur frequently leaving   people with a normal assumption that such have been happening and that have never had effect on them. This will definitely make everyone to take such scenarios for granted not knowing that one day the tremor can turn out to be an earthquake. When it turns to be earthquake, it will find everyone unaware and hence will end up affecting the majority. The fact that disaster can happen anywhere and anytime, everyone should be prepared. Earthquakes disasters are categorized as either simple, Meagre or complex. What one society can look at as a simple earthquake disaster can be perceived as complex earthquake disaster by another society. Some disasters are also seen as rapid while others seen as slow. I may say that most earthquakes disasters can be considered as initially slow or creeping because mostly they begin as earth movement or tremors before ending up as earthquakes which are considered to being rapid. Earthquakes are as a result of natural forces or an interaction of human and natural hence they are beyond human control thus the society should be prepared on how they can be mitigated however much costly it may be. People should also be prepared because of the damages the earth quakes cause whether partial or complete destructions of physical infrastructure like buildings, people, communication networks, machineries, etc.   They can be indirect damages that the damage to the flow of goods and services that can neither be produced nor distributed when a disaster occurs. Indirect damages are of four folds namely; increased population costs, increased damages, loss of corporate incomes and unexpected expenditures. In conclusion, earthquake disasters neither belong to the rich or poor but to everyone. This means it can affect everyone as long as one lives on the earth’s surface. References www.redcross.com

Tuesday, January 7, 2020

Walt Disney Yen Financing - Free Essay Example

Sample details Pages: 5 Words: 1395 Downloads: 7 Date added: 2017/09/12 Category Advertising Essay Did you like this example? 1. Should Disney hedge its yen royalty cash flow? Why or why not? If so, how much should be hedged and over what time period? Yes, Walt Disney Company should hedge its royalty cash flow to protect against currency fluctuations. The company has revenues in Yen and does not have expenses in Yen. Thus it would be converting the Yen to Dollar and so is exposed to foreign exchange risk. The value of Yen has declined recently and it is difficult to forecast what the value could be in the future. Also currency speculation should be left to speculators and Disney should not play on the exchange rate. It would be wise to reduce the risk due to changes in exchange rate. The royalty receipts form a significant part of the pre tax income of Disney and any adverse movement would impact the financial position of Disney. The maximum amount and the period should be the Yen royalties that accrue to Disney. At the moment the amount is Yen 8 billion. The royalties are expected to grow for all times in the future and so the hedging should be for the maximum maturity available which is 10 years. Don’t waste time! Our writers will create an original "Walt Disney Yen Financing" essay for you Create order At the minimum, Disney may Disney may want to take enough money so as to reduce the debt to capitalization ratio back to 20% which now stands at 32%. The expected yen revenue stream of more than ? 8 billion every year would create 2. Assuming a hedge is desirable what hedging techniques available to the treasurer? What are the advantages and disadvantages of each? The various hedging techniques available and the advantages and disadvantages are : 1. Currency Options – In this Disney could buy dollar yen options allowing Disney the right to buy dollars against yen at a predetermine rate or could sell Put options allowing Disney to sell yen for dollars at a predetermined rate. The advantages of options are †¢ It gives the right but not the obligation. If the Option is out of the money it need not be exercised. †¢ Options have an unlimited upside but limited downside so will help Disney benefit from favorable rate movement. †¢ Options can be taken for high amounts using small margin money The disadvantages are †¢ The time period for which options are available is till 2 years only. Beyond 2 years the market is not liquid †¢ Options require payment of upfront premium and so there will be a cash outflow 2. Forward Contracts – In this Disney could take a forward contract through a bank and sell the Yen forward for US Dollars at a rate that is fixed now. The advantages are †¢ Forward contracts can be tailored to the needs and requirements of Disney †¢ Longer term contracts are available and Disney could hedge up to 10 years †¢ The forward contracts can be cancelled and so provide some flexibility in the future years The disadvantages are The rate is locked at the time of contract and so there is so upside benefit †¢ The forward contracts need to be honored at maturity and so Disney has to settle it †¢ As mentioned in the case, the forward contracts would be against the overall exposure to Disney and so would tie up lines of credit †¢ Forward contracts are exposed to default risks of the counterparty 3. Futures – Futu res are standardized contracts which are traded on the exchanges. That is the only difference between forward contracts and futures. Disney could buy or sell contracts on the futures exchange and hedge its exposure. The advantages are : †¢ They are liquid as they are traded on the exchange †¢ Using futures would not tie up the lines of credit with the banks †¢ There is not much default risk as the futures are market to market daily. The disadvantages are †¢ As these are standardized, they cannot be customized to the requirements †¢ Require a margin deposit †¢ The futures contracts are available for shorter periods only 4. Swaps – Disney could swap its exposure in Yen with Dollars so that its inflow is in Dollars and it pays Yen The advantages are †¢ Swaps are off balance sheet financing with only disclosure in notes. Thus the balance sheet looks better †¢ The two parties to Swap could customize the terms to their requirements †¢ Swap enables parties to access capital markets which they may not able to do directly The disadvantages are †¢ High fees to be paid to the intermediaries †¢ It is difficult to get counterparties with a perfect hedge 4. Yen 15 billion 10 year bullet loan The advantages are †¢ The time period would be 10 years †¢ The interest rate would be the Japanese prime rate The disadvantages are †¢ Since it is a bullet loan it does not help in hedging the year on year income †¢ Requires lump sum payment on maturity It is more expensive than the SWAP transaction †¢ Has upfront fees Other hedging methods such as issuing longer maturity Eurodollar note was not feasible because of the Disney’s temporarily high debt ratio. Also, Euroyen bonds are not an option because Disney was not eligible to issue them under Japanese regulations. 3. In light of the various other techniques for hedging currency exposures why the market for currency swap does exists? Who benefits and who looses in such an agreement? Can a swap really create value for a corporation? And if so where does the value come from? What risks does the swap carry for the various parties involved? The market for swap exists since it allows parties to access market which they might not be able to do directly. Also swaps are customizable between parties and so are more flexible. The duration of swaps could be the duration of the exposure. These advantages have led to the creation of the swap market. Swaps also help in broadening the investor base. Companies could raise money in different currencies and then use a swap to get back to their home currency. Swap also helps in lowering the overall cost of borrowing as also enable firms to change their payment stream to either fixed or floating. When the swap is initiated for the first time, it creates value since only if value is created will the parties agree for a swap. The value comes for the differing credit ratings of the firms. In interest rate swaps, two firms come together to swap their interest obligations and each mat find that it is paying a lower rate than before. The risks that the swaps carry is the changes in the market after the swap has taken place. In case of an fixed for floating swap, if the floating rate rise then the firm will have to pay more. Or in the case of currency swap, if the exchange rate movement is adverse, then there could be a loss. There is also a default risk since the agreement is between two parties. The swaps are not liquid and once entered may be difficult to come out of. 4. Evaluate Goldman’s proposal for an ECU bond issue accompanied by an ECU/yen swap. How does its â€Å"all-in† yen cost compare to that of the proposed yen term loan? Is it superior to hedging using outright forwards? (Note: â€Å"all-in† cost generally refers to that discount rate which equates the present discounted value of the future debt service payments with the financing proceeds less front-end fees [i. . the internal rate of return], expressed as an annual rate). The calculations are in the excel file ( we use the IRR function to calculate the internal rate of return. The cash flow details are from the exhibits) . We get the following costs 1. 10 years ECU Eurobond Issue – YTM is 9. 46% 2. SWAP ECU/Yen – YTM is 6. 89% 3. Yen 10 year Loan – YTM is 7. 61% The ECU/Yen swap is the cheapest, t hough it does not include fees, but it may still be the cheapest. In the outright forwards market we find that the Yen is appreciating. This is obviously a better choice since this would mean that Disney would get more dollars. An exercise has been done, where the Yen payments made by Disney are converted to USD at the forward rates. Using the same discounting rate as the cost of Swap, the PV of the Yen payments in USD comes to $69. 27 million. This is higher than the present value of the amount that Disney gets from IBJ which is $58. 23 million. Also the Swap does not cover the entire exposure of Disney in Yen. Therefore if it is possible than outright forward hedge is better than other alternatives