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Friday, January 7, 2011

Research Paper on Galileo Mission

Research Paper on Galileo Mission

The NASA Galileo mission’s main objective was to study Jupiter, its moons and it magnetosphere. It planned to accomplish this via two spacecraft, an atmospheric orbiter and a probe that would be released from the orbiter upon arrival. Launched on October 18, 1989 from Cape Canaveral, the spacecraft pair reached Jupiter in December 1995. During its journey to Jupiter it was the first mission to complete a close asteroid flyby - on asteroid Gaspra – and to discover the satellite of an asteroid – Ida’s satellite Dactyl – as well as make important observations about the moon. Since reaching Jupiter the Galileo mission has been a huge success, with the Galileo Orbiter even having made an extended tour – the Galileo Europe Mission (GEM) – for fourteen extra orbits.

SCIENTIFIC GOALS
The Galileo Orbiter and Probe had individual scientific goals. The Probe would be sent straight into Jupiter’s atmosphere to reach these goals whereas the Orbiter would make numerous orbits at various distances from Jupiter.
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The goals of the Galileo Probe were to:
  • Determine the chemical composition of Jupiter’s atmosphere
  • Discover the structure of the atmosphere to a pressure depth of at least 10 bars
  • Investigate the nature of cloud particles and the location and structure of cloud layers
  • Examine the radiative heat balance
  • Study the nature of Lightning activity of Jovian planets such as Jupiter
  • Measure the flux of energetic charged particles down to the top of the atmosphere.
The objectives of the Galileo Orbiter were to:
  • Investigate the circulation and dynamics of the atmosphere of Jovian planets such as Jupiter.
  • Investigate the upper atmosphere and ionosphere;
  • Determine the morphology, geology, and physical state of the Jupiter’s main (Galilean moons)
  • Investigate the composition and distribution of surface minerals on the main moons
  • Determine the gravitational and magnetic fields and dynamic properties of the main moons
  • Study the atmospheres, ionospheres, and extended gas clouds of the mains moons
  • Study the interaction of Jupiter’s magnetosphere with the main moons, and characterize the vector magnetic field and the energy spectra, composition, and angular distribution of energetic particles and plasma to a distance of 150 Rj
CURRENT HEALTH AND LOCATION
The Galileo Probe melted and vapourised after collecting 58 minutes of data during its descent into Jupiter’s atmosphere in December 1995.

Galileo Orbiter’s current location as of September 1, 2003 is 10.859x106 km from Jupiter with a phase of 8.4 degrees.

Galileo Orbiter is in good health, having even survived Jupiter’s intense radiation interfering with its electronics as it approached Io. It is however almost out of fuel.

The Galileo mission will end when the Galileo Orbiter intentionally impacts Jupiter on September 21, 2003.

RESULTS OF THE MISSION
The Galileo mission made many discoveries about Jupiter and its moons. Most notably:
  • The discovery of an intense interplanetary dust storm
  • The discovery of an intense new radiation belt approximately 50,000 km above Jupiter's cloud tops
  • Wind speeds in excess of 600 kilometers per hour were detected
  • Far less water was detected in Jupiter's atmosphere than estimated from earlier Voyager observations and from models of the Comet Shoemaker-Levy 9 impact
  • Far less lightning activity than anticipated. However the individual lightning events are about ten times stronger on Jupiter than on Earth
  • The abundance of Helium in Jupiter is practically the same as its abundance in the Sun

  • The discovery of extensive resurfacing of Io's surface due to continuing volcanic activity since the Voyagers flew by in 1979
  • Preliminary data supports the existence of magnetic fields for both Io and Ganymede
  • The discovery of evidence for a liquid water ocean under Europa's surface.
The Galileo mission also made discoveries about the Moon and the asteroids Ida and Gaspra during its flyby’s of them on its way to Jupiter. It was confirmed that a huge ancient impact basin exists in the southern part of the Moon’s far side. There is now also evidence of more extensive volcanism on the Moon than was previously thought. Dactyl was discovered as a satellite of the asteroid Ida.

These results have greatly improved our understanding of Jovian planets and their satellites. For the Jovian planets it was namely their atmospheric composition and behaviour and the strength and behaviour of their magnetospheres on which the Galileo mission shed further light. For the Galilean Satellites the mission revealed the make up of their surfaces and also the possible existence of magnetic fields for Io and Ganymede. These discoveries have helped scientists raise new questions and theories about Jupiter and its moon, one such being whether life might exist under Europa’s icy crust.


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Essay on The Scientific Revolution and Religion

Essay on The Scientific Revolution

In the years following the age of the wars of religion, a revolution of different sorts caught hold across Europe. Many of the traditional views of the Church and Scholasticism were abandoned as scientists began looking at the world in a more secular sense, free of the dogmatic philosophy which dominated Western thought in previous centuries. Bacon's establishment of the importance of inductive reasoning, empiricism, and mathematics allowed scientists to view the universe in a more objective matter. Descartes' belief in rationalism further advanced the importance of mathematics, claiming the material world was regular and predictable, therefore human reason could deduce all the knowledge of the universe. The more secular views of the world and the break with traditional Christian doctrine, however, did not constitute the abandonment of a belief in God. Conversely, God was now seen as a rational being governing a rational universe. This new view of God appealed to many Europeans, for most were weary of the religious strife that had entangled Europe in the previous decades.

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Throughout the Scientific Revolution, scientist and philosophers would have a tendency to reexamine traditionally held values. Nowhere is this best exemplified as is in the reshaping of the European view of the universe. Since the Middle Ages the Catholic Church had followed the Ptolemaic model of the universe, a geocentralized solar system where the Earth is orbited by the various planets in regular, crystalline spheres. The Polish astronomer Nicholas Copernicus, however, presented a system where the sun was the center of the solar system, thereby solving numerous mathematical problems encountered at the time. German astronomer Johannes Kepler further championed Copernicanism by discovering that the path of the planets' orbits is elliptical rather than circular, as was previously thought. English physicist Sir Isaac Newton would later justify this theory by establishing his laws of gravity.

The redefining of the universe dramatically changed the Christian concept of the world, for the previous geocentralized models were consistent with Christian beliefs. Furthermore, the establishment of a new scientific model of the universe in face of Catholic opposition demonstrates the break with philosophical and scientific beliefs with the Church. This intellectual break, however, is not consistent with a spiritual break from a belief in God, for many scientists were pious and devout individuals. Nevertheless, the waning influence Christian beliefs had on European intellectual thought became clearly evident as scientists such as Vesalius and Harvey countered traditional views of Scholasticism and the beliefs of the philosophers of antiquity.

Perhaps the largest advocate of materialism was the English philosopher Sir Thomas Bacon. Although not a scientist by profession, Bacon advanced the philosophy of empiricism, which embraced primarily quantitative observations and the induction of conclusions from those observations. Bacon therefore believed knowledge could only be gained through experimentation. He also established a common belief of the scientific revolution, claiming that the material advancement of science and technology would lead to the advancement of a civilization. Bacon disagreed with scholasticism in that it embraced the accomplishments of past civilizations. Bacon's belief in empiricism, however, would have a significant effect on scientific and theological thought during the 17th century. The dependence of mathematics would reshape the world in mathematical terms. This belief in a consistency in nature would be reflected as Christian scientists sought to establish God as equally rational to the world he created.

The antithesis of Bacon's empiricism was Rene Descartes' rationalism. As opposed to empiricism's inductive reasoning, rationalism is most clearly defined in its belief of a deductive method of reasoning. Descartes claims to doubt everything except one's own reason and the existence of God. Outside of thought in the material world, everything is governed by the laws of mathematics, and therefore is predictable for it is part of a complete system. The belief in God is essential to rationalism, since God serves as the only other constant excluding the human mind.

In braking with tradition dating well back into the Middle Ages, the scientists and philosophers of the Scientific Revolution began examining the world with more secular intuitions for more secular answers. The scientific and doctrinal disagreements with the church demonstrated the continuing decline in power of the Catholic Church and the lessening affects Christianity had on Western culture.

Combined with the new followings of rationalism and mathematics, the worldly values of the Scientific Revolution redefined God as a more rational being; the philosophies of Thomas Bacon and Rene Descartes exemplified this. Moreover, empiricisms and rationalism portrayed matter outside the human mind as innate, and therefore presented a more objective view of nature. Hence, the Scientific Revolution can most clearly be marked by its search for a mathematical and rational basis for religion.

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Thursday, January 6, 2011

Research Paper on Gang Violence in America

Research Paper on Gang Violence

Gang Violence is becoming more and more of a problem every day in America. More teens are being pressured into joining gangs than ever before. Now gangs are getting new members from middle and junior high schools, even from elementary schools. Gangs are becoming a big problem not only to the people they kill, but to families and friends. They hurt their own families as well as others. Innocent people become victims to gang violence, just so that the members can get a laugh. They do not care what they are doing to the persons family.

Gangs are terrible because not only because they kill people, but they destroy homes, intimidate teens into joining their gangs, innocent people become victims, and even the gangs members are in danger because they get killed if they try to get out because they know too much information on what the gang has done.
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Gangs are becoming more common each and every day and new gangs are being introduced into the world. In Shelby County Tennessee alone, there are approximately 125 known gangs and approximately 10,00 known gang members. This number needs to be decreased because it is ruining our country because the people around the gangs live in fear for their families safety and their lives. Anybody can be a random target for gangs so therefore nobody is safe in this world. Gangs also cause an increase in the juvenile crime rate. Gang members often but aside their education because it interferes with the gangs objectives. Those gang members who are not killed usually began to abuse alcohol and drugs. They also develop police records that limit their chances of a good job in the future.

People join gangs because they feel that it gives them some sort of identity. Being part of a gang causes the member to achieve a certain status that is not available outside of the gang.

Another reason why people join gangs is because they live in a gang area and can be targeted by other gangs. They feel that if they join a gangs they will have some type of support if they are attacked by a rival gang. Some people are forced to join gangs by being intimidated because the members feel it will help their criminal activity. Others join just so they can intimidate others not involved in a gang.

Gangs try to start a confrontation with rival gangs in parks or at parties and the result of the violence usually claims innocent victims. Gangs also vandalize property in the form of graffiti and the destruction of public and private property. This decreases property value in residential neighborhoods and has a negative effect on industrial and commercial areas. Gangs find violence funny and feel that partying, getting high, and robbing people is fun. The crime that is usually committed by gangs is drive-by shootings. They look for the homes, vehicles, or places where a rival gang stays and shoot and at the members of the gang using a variety of weapons.

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Essay on The Reformation

Essay on The Reformation

There is a myth that since the time of the conversion of the Roman Empire to Christianity in 313 A.D. until the Reformation that the Catholic Church lived in relative peace. This myth is false; the Church was constantly under attack.

Heresies, Islam, and other less organized pagans always had the Church busy fighting on the side of Truth. From 300 A.D. to 600 A.D., the Church was affected with the heresy of Arianism. The heresy caused many men and many clergy to be led astray. After the Church’s battle with Arianism, Mohammed and his new religion, Islam, rose to power and overwhelmed most of the Orient. Islam and Christianity were at war with each other since Islam’s creation up until the Reformation. Between battles with Islam, pagans from Scandinavia and Mongols from Asia tried to battle Christian Europe, but they were less organized and easily defeated.

Christian unity was incredibly strong for the first twelve hundred years of its existence because the Christians were always defending their faith against an outside opponent. There was not time for any internal dissention, everyone got along because they had an attitude of “we” verse “them.” Since a Christian was a Christian, it didn’t matter their theology or how they lived their life, or how the Church lead its people. As long as a person was not Islamic or from another outside group, everyone got along.
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But, after the twelfth century, the pressure from outside forces that Christianity was fighting against diminished. With no need for strong Christian identity, heresy and dissention began to pop up throughout Christendom. For example, the Albigensian movement, they had a belief in a doctrine of a dual godhead. There was a good god and an evil god. This heresy spread through much of southern France before it was extinguished. After the extinguishing of the Albigensian heresy, there was a time of piece for about eighty years. From 1220 A.D. to 1300 A.D. Europe lived in a full Catholic society. The whole of Europe was under one belief and one spiritual head.
Heresy and revolt started to creep in to European society starting in the fourteenth century. Small spiritual revolts started appearing for the first time. The most notable movements were the movement by Wycliffe and at the very end of the century the Hussite movement. Wycliffe who died in 1384 is considered the “morning star” by some Protestant historians because to some people his movement is the beginning of the Reformation. His movement though strong, was short and only affected a small part of Europe. John Huss and the Hussites of Bohemia were another strong spiritual movement that started about almost exactly one hundred years before Martin Luther. The Hussite movement was also a strong movement, but was very nationalistic. The Bohemians joined Huss not out of theological beliefs, but out of national pride.

The ground was prepared for a catastrophe by the end of the fourteenth century, but still no fatal course made the Reformation inevitable (Belloc 14). By the time of the start of the Reformation the doctrinal novelties of Wycliffe, Huss, and others had already faded away. Many generations had already passed by before Luther’s first protest. The two hundred years before the Reformation were not a growth in new doctrines, but the weakening of the moral authority in the temporal and spiritual organization of the Church (Belloc 15).

Though there were spiritual revolts in the fourteenth century, there were many Catholic spiritual triumphs going on at the same time. There was the rise of the great monastic Orders of St. Francis and St. Dominic and the philosophy and theology of St. Thomas.

One of the most detrimental causes of the weakening of the papacy was the unnatural migration to Avignon. For centuries, Europe was use to the conflict between the papacy and the empire. The emperor was the head of lay power and the pope was the head of spiritual power. The papacy eventually won the battle, but at high costs. The papacy heavily taxed Europe, especially England (Belloc 16). With the empire fallen, the papacy had full control over the temporal and spiritual fields. Since there was no supreme lay power, Europe began looking to the next highest power, which was France.

With the pope now living in Avignon the papacy turned into a local power. Avignon was not technically part of the king’s dominion, but the papacy was nominally subject to the king. The papacy became part of the French monarchy and was consumed by French nationalism. The French papacy which lasted for seventy years from 1307 to 1377 A.D. had its share of anti popes occasionally rise, but European common loyalty was always given to the pope at Avignon (Belloc 16).

The problem of Avignon and what caused the weakening of the papacy’s authority was being under the rule of the French king. Europe was use to a supreme head of the empire. The French king did not have the name or the authority of an emperor. The French king had no more power than any other king in Europe. He had no more authority to influence the papacy than any other king. With the rise of nationalism throughout Europe, other countries felt that the papacy was French and not universal, so the full authority of the pope throughout Europe was severely weakened.

To remedy the situation at Avignon the pope moved back to Rome. The move was supposed to strengthen the power of the pope, but that did not happen. What happened next was the Great Western Schism from 1377 to 1407 A.D. The forty years of the schism permanently hurt the authority of the pope. After the schism was settled, it still took another thirty years and the accession of Nicholas V to the papacy before power was unanimously given back to the Bishop of Rome (Belloc 18). It was over one hundred and thirty years since the first removal of the papacy to Avignon. Until less that a lifetime before the Reformation Christendom lived under a divided and increasingly despised papacy (Belloc 18). The prime condition for a united Christendom is a single, powerful head and that had disappeared.

During the papacy’s time in Avignon, the Black Death tore though Christendom. One third to one half of all the clergy and religious died. Whole monastic communities were wiped out. Bishops and their priests were all dead. The clergy and religious never fully recovered. The new clergy that were ordained were not educated, illiterate, and unfit for the position they held. They did not have the respect for the sanctity of the office. The Black Death also caused a rise in nationalism which was not a help to the papacy at Avignon. The Black Death is the beginning of the Reformation; Europeans began to voice their disgust and anxiety about the Church. They cried for, “A Reform of Head and Church (Belloc 27).”

After the Black Death came the crystallization of religion (Belloc 24). The Church’s official life hardened out of measure. The Church used to be elastic and fluid, the Church is a living organism. The hardening of religion was from an exaggeration of routine and precise rule. The exaggeration and precision led to many abuses in the Church. Dues and Taxes were exacted out of mere precedent. Unnecessary taxes were taken even when the use for that tax was over. The Church also suffered from plurality with the holding of two offices.

The last lifetime was a period of eighty years between the Great Schism and the Reformation (Belloc 22). The last lifetime was a time of great mental revolution. New learning and new expanded experiences shook people’s faiths because everything they thought to be true around them was changing. Sudden new discoveries caused people to question what they believed. A man born in 1430 and living to old age would have seen an expansion of geographical knowledge far beyond their imagination. He would have heard about the turning of the Cape of Great Hope and a new way to India, colonization all over the world, and the fact that the Earth was round. He would have seen an increase in study of ancient literature, the printing press, and growth in vernacular literature. He also would have seen a change in the art of war, in which only national governments would be able to afford, and he would have seen the last bits of feudalism being swept away.

Humanism, the study of antiquity, was prevalent throughout Europe. Humanism bred contempt for the medieval past and had thoughts of a glorious future. Since the Church was a part of the medieval past, the humanists dreamed of a future without it. Humanism did bring about a lot of skepticism into Europeans minds. The pride of humanism was at issue with the Christian faith. Humanism’s critical examination of legends, such as the Donation of Constantine and the unauthentic Decretals of Mercator, which parts of it supported papal power, tangled up doctrine with legend (Belloc 23). Humanism had no patients for truth lurking in legend.

The lifetime before the Reformation also brought about an increased study of scripture. The Old Testament, Talmud, and the Jewish arguments against the Faith were known to many. The New Testament was the test of scholarship and known by heart (Belloc 28).

Islam was also on the heels of Europe during the time before the Reformation. There was the fall of Constantinople and the conquering of Greece. All these forces caused a breakdown in European morals. The papacy should have used this time as an example for reform and repaired its authority, but the papacy ended up losing more authority instead.

The condition of the papacy worsened from 1447 to 1517 A.D. For centuries the papacy was politically weak, but morally strong. That changed with the accession of ten popes during the last seventy years. Nine of the popes were actual significant, Pope Pius III died twenty six days into his pontificate. Nicholas V was the first pope; he was the first undisputed, unpersecuted, and absolute monarchal pope. Nicholas was a very learned, cultured man, and also very pious. Calistus II was a Spanish pope and full of the Catholic spirit. Pius II was marred by an irresponsible youth; he had illegitimate children while a priest. But, he matured into a great scholar of history. Paul II was a worldly pope, but had no grave moral offenses while pope. Sixtus IV was of poor origin. He was not politically active and very worldly. He acted like a prince of the day. He was involved with the first great scandal, his nephew Cardinal Riario plotted against Florence.

Innocent VIII had an illegitimate family born to him before he took Orders. The problem was that he patronized them like a royal family. The most famous of these popes is Alexander VI who rose to power in 1492. He was the pope when the people of the Reformation were old enough to receive a lasting impression. He was pope for eleven years and in those eleven years he did all matters of harm. He was elected though bribery and wealth; he became pope by one vote, his own. Politically he was a good candidate; he helped the Jews while Chancellor of the Papal States. The worst actions came from his son, Caesar Borgia whose only virtue was courage. Caesar was born to Alexander when Alexander was a Cardinal. Alexander had no sanctity of the office he held.

Julius II and Leo X were also of not great harm, except the selling of the indulgence for building St. Peters. Both Julius and Leo were worldly men and acted very much like Italian princes. The popes were not seen anymore as universal shepherds, but as princes of Rome. The popes failed to carry out the greatest task of Christendom at the time, the fighting of the Turks. It was not necessarily the popes’ fault though because the kings and princes throughout Europe would not listen to the pope’s call. Pius II even led a crusade himself because he couldn’t find anyone to take charge. He ended up dying on the battle field.

Four forces moved together to cause the Reformation (Belloc 34). The first is the weakening of moral disciple of the clergy, their plurality and worldliness, lack of sexual morals, heavy taxation, and the problems of the papacy. The second is the weakening of the moral disciple of the laity particularly the rich. The rich became very greedy and would do anything to get more money. They saw the Church as having a lot of money and they wanted it. The third force was the increased indignation at the failure of the official Church to reform. The fourth force and the strongest force was the hatred of the Catholic Faith. The church was constantly seen as restricting man always and always being in man’s life. The Church was always at issue with pride, ambition, and desire. Most importantly was the Church’s claim to absolute authority and universal moral dominion. This hatred was confined to a small few in Europe, but it was potentially present in large numbers.

Martin Luther, an Augustinian monk is credited for starting the reformation. He visited Rome in 1510 A.D. during the pontificate of Julius II for business connected with his Order or his monastery. There is no real proof that Luther was upset at the worldliness of the papacy. He came back and taught at the University of Wittenberg and had local prominence among the Germans.

On October 31, 1517 Luther nailed his 95 theses to the door of the church of the Castle of Wittenberg. Luther’s theses were grievances over the practice of selling indulgences. His nailing of his grievances was not an act of revolt at that time. It was common practice for scholars to nail topics for discussion on the church door. The only difference is that Luther firmly believed in his theses.

The Church’s dogma on indulgences was the same then as it is now; the merits of Saints may be applied by the Church’s authority to its people, not to the remission of sin, but to its punishment (CCC 1471). Grave abuses in the practice of indulgences were common throughout Europe, though. There was confusion between the payment of money as alms and the payment of money as a purchase. Also, masses of men fell into accepting indulgences as a remission of sin.

The most disgraceful act of the papacy concerning indulgences was the selling of an indulgence for the building of St. Peter’s. Julius II instituted this indulgence. Leo X collaborated with the Archbishop of Mayence to sell this indulgence (Belloc 40). The Archbishop and Leo X split the money gained from the sell of the indulgence for St. Peter’s. The Archbishop needed the money to pay off his debts. Lots of pomp and flair was used to pressure people into buying the indulgence. Many people and clergy did not approve of this indulgence. The Cardinal of Toledo forbade the promulgation of the indulgence (Belloc 41).

The Germans also hated the indulgence for two reasons. There was friction between the old tradition of the German king and the papacy and with the rise of German nationalism; the Germans felt that the pope had become an Italian prince (Belloc 41). This meant that the pope was no longer one with all Christendom because the pope was no longer one with Germany. The Germans were no longer one with the rest of Christendom. The Germans were ready to revolt and rebel against the authority of Rome. They saw Luther’s protest as their opportunity for rebellion. Luther suddenly found himself in the spotlight. He had no intention of this happening when he posted the theses and never wanted to leave the Church, but with the support of the Germans, he decided to go along with them.

Rome thought nothing of Luther’s protest or the grumblings in Germany. Pope Leo X saw the problem as a quarrel between two monastic Orders (Belloc 42). The Augustinians were jealous of the Dominicans because the Dominicans were the ones selling the indulgence. Luther was called to Rome in 1518 A.D., but he did not go. He did not go because of health reasons; it was not an act of defiance.

Irritation throughout Germany against papal power and taxation, mixed with some German nationalism demanded that Luther face his opponents on home turf. Rome accepted the situation and went to Germany. The Diet at Augsburg was set up with Rome’s main agenda being to persuade the German princes to fight against Islam. Luther was much smaller business. At the Diet, Luther was offended. He was made to look foolish; they tricked him into denying the authority of a General Council, which could overrule a pope (Belloc 43).

Throughout 1519, Luther was still protesting his Catholicism. By the end of 1519 A.D., Luther went through a revolution in his mind and became an opponent of the whole church system (Belloc 44). In 1520 A.D. the Church gave a Bull of Excommunication to Luther with sixty days to submit to Rome (Stravinskas 847). Luther did not submit.

Luther with about five million people left the Church because of grievances over abuses and power of the Church (Lindsey 59). The forming of the main Protestant doctrines came after the first rebellion. Sola Fide was an after thought (Belloc 49). With the abolition of the clergy there was no one to administer the Sacraments. So only the tenants of faith that did not need a priest to perform were kept (Lindsey 51). Sola Scriptura was also a necessary doctrine because without a hierarchy to teach the people the correct interpretation of the Bible and to pass down Church Tradition personal interpretation of the Bible needed.

The Reformation was a social rebellion against the old way of life; it was not spiritual revolt due to new doctrines. Corruption of clergy and humanism caused people to be skeptical of the Church that led their faith. The rise of national governments along with a strong sense of nationalism severely weakened the supreme authority of the Church. The Reformation did not continue a direct Renaissance tendency toward larger things, it deflected that tendency. It did not introduce the arts, it cramped and thwarted them. Its last effects have not led to a society happy or stable; they have led to the society we see around us today (Belloc 6).


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Wednesday, January 5, 2011

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Essay on The Poisonwood Bible

Essay on The Poisonwood Bible

Barbara Kingsolver’s The Poisonwood Bible follows the Price family after their decision to go to the Congo as missionaries. The story is told through the eyes of the mother, Orleanna, and her four daughters- Rachel, Leah, Adah, and Ruth May. Kingsolver uses this novel to illustrate the effects of colonialism. Colonialism is a system where one country dominates over another. The country in power does not always make decisions that keep in mind the interests of the country it is in control of. The Poisonwood Bible explores more than one kind of colonialism. The head of the family, Nathan Price, practices a form of colonialism over his family. He controls the women and tries to determine every aspect of their being. However, like the Congo, the women were able to break free in their individual ways and fight for their existence. One of two living sisters who remained in Zaire after its independence, Leah Price underwent an incredible transformation from the daughter of a Georgia preacher to a mother of four. For this transformation, she had to eliminate her old way of thinking, so she could be open to new ways.

Before its independence, Zaire was known as the Congo. Belgium ruled the Congo, and America helped to promote a sense of dominion over it. Many white people from these two countries felt a responsibility to make the Congolese nation much like theirs and to make the Congolese citizens think the same way they did. Many missionaries took it upon themselves to educate the Congolese citizens about God and about the ways of the West. The flow of missionaries into the Congo slowed as political unrest began to unfold. A few missionaries, ignoring the warnings given to them, still went into the Congo in the hope of turning souls to God. Nathan Price fit this description. A war veteran and a Southern Baptist preacher, he gave himself the authority to take dominion over anything he wanted to, believing that the American government, as well as God, supported him. Nathan brought his family into the Congo in 1959, not knowing that this would spark a change of events that would change his family forever.

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Leah Price does not seem to have a deep, personal relationship with her mother. Orleanna Price is certain that Leah knows how to take care of herself. Leah is the stronger of a set of twins, and a tomboy on top of that. During an ant attack, saving Leah does not once cross Orleanna’s mind. She recognizes Leah’s strength, although this is not enough to bring them closer together. Despite the absence of intimacy in their relationship, Leah and her sisters combine forces with Orleanna to protect each other from Nathan and his temper. On more than one occasion, the girls have accepted punishment for things Orleanna has done, and vice versa.

Leah’s relationship with her father differs greatly from the one she has with her mother. She adores Nathan, and does everything she can to be accepted in his eyes. Nathan, whose task in life allows no room to love and nurture his children, is blind to her efforts. Kingsolver sums up Leah’s relationship to Nathan here, describing Leah as saying,

“I was thrilled by the mere fact of his speaking to me in this gentle, somewhat personal way. He didn’t look at me, of course, for he had so much on his mind, as ever. We’d worked so hard for God’s favor, yet it seemed God was still waiting for something extra, and it was up to my father to figure out what.” (77)

Throughout the novel, Leah stands by Nathan, following him around and devoting her attention to him, even though her need for acceptance is never acknowledged or fulfilled. His relationship to God is similar to Leah’s relationship to him. They are both waiting for approval, and in both places, the approval never comes. When Nathan dies, she is the only one of her sisters who feels anything other than satisfaction. It takes Ruth May dying to begin opening Leah’s eyes so she sees what kind of man her father really is. Although it had crossed her mind, she never fully realized until then that her father was capable of being wrong- both in his way of thinking and in the way he treated his family. This realization marks a huge turning point in Leah’s life, where instead of admiration and awe, Leah’s feelings turn into anger towards Nathan.

The years Leah spent in Kilanga changed her pre-conceived notions on race and race relations. Coming from Bethlehem, Georgia, she, like the other members of her family, at first believed all Africans to be heathen savages. Living in Kilanga exposed Leah to a new way of thinking and a new way of living. Villagers worked together, helping each other survive on a daily basis. Even when the Price family ran low on food, a neighbor gave them some of her hens and some of her eggs. Leah found the villagers to have an appreciation for nature she had never seen before. In a sense, they worshipped Mother Nature. They designated gods for different aspects of nature as a way to recognize the importance of nature in their lives. Leah came to think in the same way the villagers did, and eventually learned the native language. She shared their love of nature and their spirit of sharing, unity, and equality. She fell in love with Anatole, a black man who shared her views on equality and human rights. By this time, racial tension between White colonialists and Black citizens was higher than usual, due to the actions of the Belgian and American governments. Exasperated that people refused to look beyond her white skin, Leah longed to live in a world with no color. During the latter part of the novel, she became ridden with guilt over the color of her skin, and never was able to forgive herself for the color of her skin. In her mind, being White aligned her with Belgium and America, and with their actions. She becomes part of the problem, and never resolves the problem.

Skin color is not the only thing that Leah feels guilty about. Her whole life involves her dealing with different sources of guilt. Her twin sister, Adah, suffers from hemiplegia, a condition where one half of the brain shrivels slightly smaller than the other. In addition to this, Leah was breastfed through much of her infancy, whereas Adah was given milk formula. Leah therefore got all the nutrients that come from breast feeding and grew up a physically stirring girl. Adah spent much of her life deformed and did not speak very often. Leah blames herself for Adah’s state of being and never quite forgives herself for this.

The issue of religion also served as a source of guilt for Leah. During the earlier part of her life, Leah behaved exactly how she thought her father would want her to behave. She absorbed everything he told her to absorb, including his idea of religion. Nathan Price taught Leah that there was only one God, He had one way of getting things done, and that everything happened for a greater good. The events she saw happening around her made her re-evaluate God and religion. She became angry at God, and abandoned religion for a little while. However, things turned sour. Anatole was arrested. Leah found that she needed somebody to turn to, so she turned to God. She turned to a much different God than the one she used to turn to.

“I found I… couldn’t picture God at all. He just ended up looking like my father. I tried to imagine Jesus, then, in the body of Brother Fowles…Attend to creation, was his advice.” (423)

The fundamental difference between Leah’s God and Nathan’s God is that Nathan’s God is everywhere, watching and ready to reprimand. Leah’s God, however, created everything and lives in everything he created; ready to come to the rescue whenever He is needed. When Leah gave up her father’s way of thinking, she stopped believing in his God. Instead, she began looking around her at everything God created and realized how they all came together to provide the tools necessary to survive. This new outlook on religion gives Leah a new sense of peace, as she realizes that she has not been abandoned by God.

The time Leah Price spent in the Congo radically changed her. Everything she believed in was questioned and discarded for a new way of thinking that was able to better fit the new lifestyle she now lived. Kingsolver develops this complex character by following her from the naпve teenager she was to the mother of four, married to an African man and still living in Africa. In order to develop so much, Leah evaluated her relationship to her father and her views on religion. In addition to these two, her relationship to the women in her family helps shape the woman she becomes.

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Tuesday, January 4, 2011

Dissertation on Finance

Dissertation on Finance

The proposed acquisition of land by HRI does not seem to fit the original business pattern of HRI as it was set at inception of the company. As the case states the founder of the company engaged HRI in the purchase of underdeveloped acreage, which was then developed, for industrial use. In addition it is stated that the company’s plan from inception had been to deal in only the most potentially profitable land acquisitions. The acquisition of new property seems to in line with the company’s business plan, but since the case explicitly states that it likes to buy undeveloped property, this new proposed purchase might be out of line with the original intentions of the company’s founder. If however the new property is fairly priced as the case states that it then the company may make a wise business decision to buy even though the property is already developed and is currently occupied by a well-built office building. The forecasted increase in EBIT looks attractive at 20%, which might also make the decision a bit easier to make.

2. If HRI uses debt to finance the new acquisition of property then the company may increase the current debt ratio. This increase in the debt ratio could hurt HRI’s triple A rating with bond rating companies, which could in turn drive up the required coupon rate that investors will want in order to supply the capital that HRI needs. The new bond issue will affect the company’s income statement as shown below modified from the example in the case. The case states that their will be an increase in EBIT of 20%.

EBIT $5,292,840
Less: Interest (2,795,000)
Taxable income $2,497,840
Less: Taxes (30%) (749,352)
Profit after-tax $1,748,488

The second option given to the company is a stock offering of 200,000 shares of common stock, which the company will net $30 per share. Issuing common stock has its advantages. No interest payments to make and possibly no downgrade in the company’s rating. In issuing common stock the company will have a new set of challenges to face. First the company must decide what the investors required return will be and then HRI must ensure that it earns an adequate return on it’s assets in order to compensate the investors. HRI must make decisions regarding dividend policy, and must ensure that an adequate amount of growth takes place in order to keep shareholders happy. The third option that the company has is to offer preferred stock at a net to the company of $93.50. This would have the company issuing about 64,171 new shares of preferred stock. With preferred stock yield of 8% HRI will have a mandatory dividend payment to make. This dividend payment would not be tax deductible like the interest payments on a bond issue. The company may wish to offer cumulative preferred to ease investors or, the shareholders may want other provisions that protect their equity investment in the company which might restrict some capital budgeting decisions of the company. Because of the current income offered to shareholders who own the preferred shares the stock can be sold at a premium, there by reducing the total amount of shares issued, which can serve to protect against diluting the equity interests in the company. Given the three financing options available I would choose the bond issue and make them callable to take advantage of downward swings in interest rates. I would also be drawn towards the tax shield available through the bond issue.
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Some useful information in answering question 2 is the amount of total interest payments that the company will be making with the new bond issue. This tells us additional yearly liability the company must prepared for. The applicable tax rate for the company helps us to calculate the tax shield and after tax liability of interest payments. Information about investor sentiment may also be useful to the company before issuing the bonds. A good economic and industrial outlook will help to know where the economy (interest rates) might be heading. This could aid the company in deciding whether or not to offer callable bonds or preferred stock.

HRI’s total debt to total asset ratio before the acquisition is 47.66% and after the acquisition is 52.94%. The company’s times interest earned ratio before the acquisition is 1.86 and after is 1.89. The calculations are below.

Before acquisition:
Total debt/Total assets = $25,500,000/$53,500,000 = 47.66%
Times interest earned = $4,410,700/$2,375,000 = 1.857

After acquisition:
Total debt/Total assets = $25,600,000/$59,800,000 = 52.94%
Times interest earned = $5,292,840/$2,795,000 = 1.89

The difference in the debt-to-asset ratio result from the greater degree of financial leverage in using more debt financing.. There is only a small increase in the times interest earned ratio. This may not be entirely accurate due to no new information being given in the case regarding cost of sales. I assume that this is worked out since it is suggested that we use the EBIT, which would account for revenue and COGS. The small difference in the times interest earned ratio may be due the difference in increased EBIT and the increase in interest as a result of interest payments (in the case of the debt financing).

A sinking fund provision requires that company’s periodically set aside funds that will be used for the retirement of it’s preferred stock issues. The money is used to purchase the preferred stock in the market or to call the stock. Using a sinking fund with a call provision can effectively place a maturity date on preferred stock, which normally does not have a maturity date. This would have the preferred shares selling at lower yields than preferred shares with no sinking fund provision.

This question is similar to question 2. Information about the flotation costs of the new equity issue would have been helpful. Also industry comparisons would have helped. By comparing certain ratios of HRI to the company’s industry peers we can better assess the health of HRI, especially in the context of the proposed acquisition.

A probability estimate regarding EBIT after the purchase can help create “what-if” scenarios that can help the company see as many possible outcomes as is necessary. The estimates can be based on level of income from rents derived from the building or on the salvage value of the building, possible sale price. A probability estimate after the purchase can help the company gauge when to possibly sell the property or to most efficiently manage the property. For example if the probability estimate tells management that there is 65% chance that increased income generated from the property (the case says the company will keep the property and manage the building) will drop by 25% in fourth year (found from industry forecasts) then the company might know when and how to prepare for a change in the value of the property or cash flow or how to diversify itself so if the possible outcome does occur will have no ill affect to the companies earnings to serve protect shareholders.

Alternatives to financing the new property have been provided. I assume the finance department is aware of the flotation costs, and other issuance costs associated with the new common and preferred stock issues, and other costs data for the debt issue is provided. The investment bankers should provide how the new equity issue might change the EPS of the company’s stock, and perhaps an industry outlook as it relates to the new investment purchase. The bankers could also provide to the company protective provisions that preferred shareholders might want or need in order to invest in the stock. Likewise the investment bankers may act as the bond trustee working with the bondholders and overseeing the relationship between the bondholders and the bond issuer. Then the investment bankers could provide the indenture, which provides the specific terms of the credit, the bondholders’, rights, the issuer’s rights, and responsibilities of the investment banker or bond trustees.

If debt is used to finance the new acquisition then HRI will be dealing with a new total debt to total asset ratio of 52.94%. At the company’s current constraint of a maximum of a 55% debt to asset ratio, the company is left with the ability to have 2.06% in additional borrowing.

The flexibility of financing comes in how easy the company can manage certain requirements of that particular financing such as debt interest payments. The bond issue will legally obligate the company to make interest payments to bondholders. The after-tax cost of debt is 4.90% (7.00%(1 - .30)). The company itself can set the yield on the preferred stock so long as it is in a feasible investment range for investors. The ease at which these requirements can be met can help to define the flexibility of the financing alternative. In these terms the most flexible financing alternative is the common stock issue since HRI does not have pay any dividend if it chooses not to. I would say the most risky financing alternative is the bond issue since a failure to make interest payments may lead to bankruptcy. Also in terms of risk is the probability estimation as it relates to the new investment. For example, what is the probability that the proposed investment will actually increase EBIT by 20%? A probability estimate will show the inherent risk in owning the new property from an investment perspective. In the case of income we can measure in terms of after-tax profits that the company can generate on new assets being purchased with the new financing. Obviously the higher the percentage return on investment the better. How the company’s income will be affected by the new financing is also a major concern; how the new financing alternatives affect the key earnings ratios. This could be called financial risk, which is a direct result of the firm’s financing decision. This risk applies to the additional risk or variability of earnings available to common shareholders, and the additional chance of insolvency to the common shareholders caused by the use of additional financial leverage. In terms of income, business risk is a concern. Business risk refers to the variability in earnings before taxes and interest has been paid. Business risk is a result of the company’s investment decision.

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