History of Pinkerton Detectives Essay Example for Free

History of Pinkerton Detectives Essay Allan Pinkerton was born in Glasgow, Scotland, on August 25, 1819. He was born into poverty to a police man who could no longer work due to injuries he had sustained from the job. To support his family Allan worked as a cooper or barrel maker in his native land. Allan ran afoul of local authorities over the membership in a chartist movement. This was a political movement that was dedicated to universal suffrage and better working conditions for the poor. A price was laid on his head and Allan and his young bride Joan fled for their lives. This landed them in the United States and settled near Chicago in 1842. He was a very hard working man who had realized working for himself would be the best thing for him and his family. After some time he move to Dundee a town he realized it was in need of cooper. There he quickly gained control of the market due to his good quality of barrels and low prices. The desire he had to expand his business is what led him to the path of being a detective. Allan Pinkerton realized that good quality raw materials for his barrel were easily obtained on Small Island close to town. Through a business mind he decided instead of paying others to provide him with the materials he should instead travel to the place to get the materials. Pinkerton was an abolitionist and soon his shop acted as a station for escaping slaves to freedom to the north through the Underground Railroad (John, 2005). When Pinkerton got to the island, there were signs of habitation. Having in mind that there were some counterfeiters in the area, he concluded that could be their hiding place. He teamed up with the local sheriff to venture out the camp and this led to the arrest of the band. His superiority began in detective and the local townspeople turned to him to help them in arresting the ringleader of the band. The natural abilities in Allan Pinkerton eventually allowed him to track and bring down the counterfeiters to justice. One day while Pinkerton was gathering wood he discovered a gang that was making coins in the area. Allan assisted in arresting these men. This discovery and arrest of the counterfeiters led to his appointment as a country sheriff in 1846. In 1850 Allan was appointed as the first city detective in Chicago police force and in the same year he established a private detective agency. In 1850 by Pinkerton Allan along with Chicago attorney general Edward Rucker founded the north western police agency. In 1843, Allan’s brother Robert had formed his own business called Pinkerton company which was originally established as railroad contractors, but along the line he began to work as a railroad detective. This business was growing very rapidly that he hired several men as detectives and guards. When Allan and Rucker’s business dissolved a year after its formation; Allan joined his brother in the already established company and the name changed to Pinkerton National Detective Agency (John, 2005). The Pinkerton detective agency It is believed to be founded by Allan Pinkerton in the 1850s. He selected a logo of an open eye with the tagline â€Å"we never sleep†. This is what led the Pinkerton men and later to private eyes. Pinkerton provided a wide range of private detective services and specialized in the capture of train robbers and counterfeiters. Their clients included banks, railroads, and government and they provided stable business for the firm. They were hired by railroad companies to investigate crimes against them and the activities of labor movements. Pinkerton was a solution to the growing labor unrest. Many businesses wanted muscular enforcers available at the factories and mines to watch their employees closely (Geringer, 2008). In 1861, when he was investigating a railway case he discovered an assassination plot against Abraham Lincoln. The conspirators were intended to kill Lincoln during a stop at Baltimore on the way to his inauguration. Pinkerton warned Lincoln of the threat and he passed through that city at night secretly. Lincoln soon hired Pinkerton to organize a secret service to gather military information during the civil war in the southern states. During this time he hired escaped slaves as spies to the confederates. During the time of the civil war Pinkerton headed a group that was aiding the government with information about their rivals. He also at times acted as Lincoln’s body guard. During the years between 1867 and 1875 he was the head of American secret service during the civil war and he led to the pursuit for frank and Jessie James American outlaws in the state of Missouri (John, 2005). After the civil war Pinkerton went back to the management of his detective agency. When Robert Pinkerton died in 1868 Allan Pinkerton took over the whole management of the detective agency. However a year later he suffered a paralyzing stroke which nearly killed him. He recovered later and went on with the management of the Pinkerton detective agency. Between the year 1873 and 1876, one of his agents managed to obtain the secured evidences that had led to the breaking up of the coal miners’ organization in Pennsylvania who were thought to engage in terrorism. This led to the execution of twenty people members by the court. In 1877 they went on strikes that led to much criticism of the Pinkerton detective agency harsh policies towards the labor unions. The criticism was done in circles though Pinkerton was assertive that he was helping workers by opposing the labor unions. Allan Pinkerton died in 1884, and the agency was taken over by his sons William and Robert who continued the agency’s movement from detective work to security and protection. Improved police departments and other private agencies at this time had begun to impinge on Pinkerton’s business. Allan’s sons continued with the company’s expansion, investigations of mafia activities, unions, robberies and insurance claims. They also provided protection to various public events. During the labor unrests he hired guards to keep strikers and their unionists away from the factories. Most noted was the 1892 homestead strike where the Pinkerton agents ended up killing several people. The Pinkerton Detective agency often supplied men to break strikes. During this year 1892, the amalgamated iron and steel workers union invited its members at a homestead plant owned by Andrew and Henry. The strikers were waiting for them and they had a battle all the day long which resulted to the death of seven Pinkerton’s agents and nine workers. This gave the agency a bad publicity (Gale, 2000). Allan Pinkerton II gained control of the company in 1923. He continued with the expansion of the business due to increasing bank robberies which was facilitated by automobile. In 1930 he also died and Robert Pinkerton II took control of the agency. In 1937 when the Wagner Act by the congress was passed it made the investigation of the labor activities illegal. To make up for this loss of the business the Pinkerton Agency focused more on investigation of gambling, especially the horse racing circuit. The 1940s through to 1960s was a time for change for the Pinkerton National detective agency. Their primary service changed to guarding of property. This can be linked partly to the services they offered during the World War II; guarding the war supply plants. In 1965 it was renamed Pinkerton’s incorporated to reflect this shift away from investigation services. In 1967 Edward J. Bednarz became the first non- family member to be a president of the agency. In 1983 Americans Brands purchased the Pinkerton for $162 million. The chairman who took over Robert McGuire had the objective to improve the agency service and increases revenue. His efforts resulted to $11 million loss in sales by 1987. This loss could be partly blamed on the competition by other over 1000 security agencies that had sprung up over the years (Gale, 2000). Thomas Wathen purchased the company from the American Brands in 1988 for $95 million. His goal was to revitalize this firm having revitalized the California Plant Protection to gain its former position of a multi purpose investigation firm. He actively sought the company’s growth through acquisitions. After duration of two years, Pinkerton’s inc. had combined revenue of $605 million. Wathen also expanded the agency reach to other countries including Mexico, Canada and Portugal. In 1991, Pinkerton acquired Business Risk International, a respected investigation, a respected investigation, consulting and business agency. This move brought Pinkerton back into business as a full service security provider. The firm continued to expand throughout the late 1990s, and solidified its position as the world’s biggest security solutions firm (Gale, 2000). In conclusion the Pinkerton detective agency may not have been founded to run this far but the ambitions of the people who ran the company contributed to this sustainability of the company. The good work offered by the company was also needed by many and the target groups who received the services were also well chosen. The natural abilities of Pinkerton were also a great and important aspect of his mission. The choosy way of recruiting the agents contributed a great deal to the success of the company. All these reasons combined with the excellent services they offered made them more successful. Pinkerton was a great man in searching for up coming opportunity which helped him in expanding his businesses and also gain superiority. References Gale Group, (2000): Pinkerton National Detective Agency. Retrieved on 16th Jan, 2009 from: http://www. accessmylibrary. com/coms2/summary_0193-13350_ITM Geringer J. , (2008): Allan Pinkerton and His Detective Agency: We Never Sleep. Retrieved on 16th Jan, 2009 from: http://www. trutv. com/library/crime/gangsters_outlaws/cops_others/pinkerton/1. html John L. Hoh, Jr. (2005): Allan Pinkerton and his Secret Role in the Underground Railroad. Retrieved on 16th Jan, 2009 from: http://www. suite101. com/article. cfm/the_underground_railroad/114256

Analyses eu-ecowas historical relation

Analyses eu-ecowas historical relation 1.1 INTRODUCTION EU-ECOWAS relations did not commence until 1975 due to the fact that ECOWAS only came into existence on May 28th 1975 with the signing of Treaty of Lagos by its member states (ECOWAS, 2010). However, prior to ECOWAS formation in 1975, some of its member states, particularly the Francophone countries such as Benin, Cote dIvoire, Mali, Mauritania, Niger, Senegal and Togo had been foundation members of Associated African states and Madagascar (EAMA). This group of countries had been actively involved in the ‘regime of association as enshrined in the Treaty of Rome (1957) which arranged a relationship between the former French and Belgian colonies with the EC (ACP, 2010). The early relationship with these ex-colonies became a key aspect of the process of European integration and also established the basis and rationale for subsequent arrangements (Reisen, 2007; Holland, 2002). The Commonwealth countries within the ECOWAS grouping such as Gambia, Ghana, Nigeria and Sierra Leone did not participate in EC cooperation programme until the UK accession to the EC in 1973. With regards to ex-colonies activities in EC cooperation programme prior to 1973, it had been a case of domination of development agenda by France (Holland, 2002). So, the inclusion of the ECOWAS Commonwealth countries was necessitated because the UK was keen to put its special trading preferences for bananas and sugar under the EC umbrella and to extend its assistance to some former colonies beyond bilateral support (European Commission, 2010a). Since ECOWAS establishment in 1975, EU-ECOWAS relations have been framed by the trade policy understandings as well as other development cooperation arrangements as contained in the partnership agreements that the EU has entered into with developing countries in Africa, Caribbean, and Pacific (ACPs) countries (World Bank, 2007; Oyejide and Njinken, 2002). The ACPs currently comprises 79 countries (48 African, 16 Caribbean and 15 Pacific). The EUs relations with the ACPs are today governed by the ACP-EU Partnership Agreement signed in Cotonou, Benin in June 2000 which came into force in 2003 (ACP-EEC, 2005). However, it has since been revised and the revised Agreement entered into force in July 2008. In a sense, both ECOWAS and ACPs are closely linked but the paper focuses on EU-ECOWAS relations with a view to unravelling its specificity in historical perspectives. 1.2 BACKGROUND OF ECOWAS ECOWAS is a regional group of fifteen West African countries, founded on May 28, 1975, with the signing of the Treaty of Lagos. ECOWAS is one of the pillars of the African Economic Community and its mission is to promote economic cooperation and integration. The overall objective of ECOWAS is to promote co-operation and integration in order to create an economic and monetary union for encouraging economic growth and development in West Africa (ECOWAS, 2010a). The grouping contains a very wide diversity of economies in terms of size, development and resources (EBID, 2005). There were 16 nations in the group until very recently when Mauritania voluntarily withdrew its membership from ECOWAS. The countries include the 7 UEMOA countries of Benin, Burkina-Faso, Chad, Cote dIvoire, Mali, Niger, and Senegal. Other non-UEMOA member countries are Cape-Verde, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Nigeria, and Sierra Leone. The UEMOA is the French acronym of West African Economic and Monetary Union. It is an organization of eight states of West Africa established in 1994 to promote economic integration among countries that share a common currency, the CFA franc. In terms of achievements, UEMOA member countries are working toward greater regional integration with unified external tariffs than ECOWAS. It is both a customs and monetary union and has initiated regional structural and sectoral policies which ECOWAS is adopting. Within ECOWAS also, there is a West African Monetary Zone (WAMZ) which comprises a group of five countries (mainly English speaking) that plan to introduce a common currency, the Eco by the year 2015. The WAMZ was formed in 2000 to try and establish a strong stable currency to rival the CFA franc. Though, the desired goal is for the CFA franc and Eco to merge, with a view to giving all of West Africa countries a single stable currency (ECOWAS, 2010b). 1.3 OVERVIEW OF EU-ECOWAS RELATIONS ECOWAS shares a resemblance with the EU in its objective and modes of cooperation for regional integration among member states. Though, their history of establishment differs. Unlike the ECOWAS model, in which all countries came together at once (except Cape Verde which joined in 1976) to form an economic arrangement, only six countries initiated the current EU arrangement, while other European countries joined at different points through its enlargement and accession strategy (Alaba, 2006). It has often been argued that integration in the West African sub-region has largely been informed by the integration processes in Western Europe, primarily because of EUs ‘commitment to regional integration (Smith, 2008; Ogbeidi, 2010). A point of departure between the two groupings however, lies in their performances over the years. While their performances could be a reflection of the level of development of the member states that constitutes the membership of the sub-regional unions, the most important single factor is their level of commitment towards achieving their goals. Unlike the EU arrangement, commitment to various protocol meant to facilitate the achievement of the vision of ECOWAS has been very low and implementation targets have never been met. For example trade liberalisation within the ECOWAS region has been generally low and ineffective (UNCTAD, 2009). The same compliance failure applies to an ECOWAS protocol on free movements of persons, the right of residence and establishment which was agreed as far as back 1979 (World Bank, 2007). 1.4 TRADE AND ECONOMIC STRUCTURE OF ECOWAS WITH EU For virtually all ECOWAS countries, the EU is the main trading partner (Eurostat, 2008). This high dependence of the countries on the EU market is largely due to their historical links and the nature of their trade patterns which has often made them trade dependent (Fontagne, 2008; Greenidge, 1998). The economic structure of the West African sub-region is largely dominated by agriculture which is closely followed by mining. Agriculture contributed about 25.17%, to sub-regional GDP as at 2006, up from 24.19% in 1995, while mining accounted for 22.13% slightly higher than 21.45 in 1995. Trade contributed about 14.64% of the Groups GDP, down from 15.39% in 1995 (Ecostat, 2010). Most of the ECOWAS countries tend to be highly specialised in a few key products such as petroleum and a few unprocessed agricultural commodities such as coffee and cotton. ECOWAS is the largest trading partner of all the EUs sub regional groupings/cooperation. It accounts for about 40% of total trade with the EU by regions (Eurostat, 2008). Out of the fifteen ECOWAS countries, thirteen of these countries are ranked as Least Developed Countries (LDCs) while three are non-LDC (HDR, 2009). The non-LDC countries in the region are Nigeria, Ghana and Cote dIvoire. These 3 non-LDC countries and Senegal to some extent account for the bulk of trade relations with the EU. In 2008 EUs rankings of African countries in terms of value of goods traded, Nigeria and Cote dIvoire ranked the 4th and 10th for all EU imports while Nigeria, Senegal and Ghana were ranked 5th, 9th and 10th respectively for all EUs exports (Eurostat, 2009). West Africas main exports are oil from Nigeria (50% of West African exports) and agricultural tropical products (cocoa, bananas, pineapples, wood) mostly from Cà ´te dIvoire and Ghana (European Commission, 2009) while Senegal is noted for groundnut (Bergtold et al, 2005). For nearly all the countries the leading import items are heavy equipments, chemical and chemical products and textiles, rubber and metal products. 1.5 EU-ECOWAS EPA NEGOTIATIONS As mentioned earlier, EU-ECOWAS relations are governed by the agreements between EU and ACP group of States. In order to achieve their objectives, the relations between the two bodies have historically been framed by a series of conventions. For EU-ECOWAS relations, the most operative conventions are Lomà © Conventions (1975-2000) and Cotonou Agreement (2000-2020). The Lomà © Conventions (1975-2000) consist of four regimes of conventions from Lomà © I which was first signed in February 1975 in Lomà ©, Togo to Lomà © IV which ended in 2000. The Lomà © Conventions are a trade and aid agreement between the European Community (EC) and the ACP group of states. The first Lomà © Convention was designed to provide a new framework of cooperation between the then European Community (EC) and developing ACP countries. The Lome Conventions most important attribute is its non-reciprocity, which allows ACP exports duty free access to the European market while enabling the ACP states to maintain tariff barriers against European goods. It introduced the STABEX and SYSMIN system which were designed to compensate ACP countries for the shortfall in agricultural export earnings and mining industry activities respectively due to fluctuation in the prices or supply of commodities (ACP-EEC, 1995; 1975). The Lomà © Convention was a commitment to an equal partnership between Europe and ACPs (Holland, 2002). A critical review of the trade agreement/convention however, shows a perpetuation of unequal power relations between both parties. For example, the reciprocity clause has always been geared towards meeting export interests of European firms (Orbie, 2008) and the negotiation for the Lomà © convention itself was a reflection of Third World commodity power, which the EU was keen to preserve through its privileged access to these commodities via its ex-colonial links (Gibb, 2000). Nevertheless, Lomà © conventions have been considered as the hallmark of the EUs policy with the Third world and the most institutionalised of all EUs group-to-group dialogues. It marked a distinctive progression from a regime of association to what could be called a forum of partnership and cooperation (Hurt, 2003; Holland, 2002). It has also been argued by Crawford (2007) that Lomà © Convention is the most significant agreement for Sub-Saharan Africa. The Cotonou Agreement (2000-2020) is the most recent agreement in the history of ACP-EU Development Cooperation. It is based on four main principles: partnership, participation, dialogue and mutual obligations, and differentiation as well as regionalization (ACP-EEC, 2000). One of the radical changes and fundamental elements of the Cotonou Agreement concerns trade cooperation between EU-ACP states. This is not surprising given the fact that EU has exclusive trade competencies and trade policy instrument has been a key strategy of its external policy (Lightfoot, 2010; Orbie, 2008; Bretherton and Vogler, 1999). The most striking feature of the new trade cooperation is the fact that the non-reciprocal trade preferences have been replaced with a new scheme of Economic Partnership Agreements (EPAs). The EPAs are schemes aimed at creating a Free Trade Area (FTA) between the EU and ACP countries (ACP-EEC, 2000). The EPAs are a response to continuing criticism that the non-reciprocal and discriminating preferential trade agreements offered by the EU are incompatible with WTO rules. Apart from the issue of WTO compatibility, it was also argued that generous trade preferences were not enough for economic take off (European Commission, 1995). It was therefore seen as having achieved limited success in terms of promoting accelerated development in ACP countries. So, what does the EPA signify for EU-ECOWAS relations? The negotiations on an EPA between ECOWAS and the EU were launched in Brussels in 2002 (ECA, 2007). However, the negotiations have so far been inconclusive due to some concerns that the EPAs will lead to large trade imbalances in West African economies, as well as substitution of local and regional production by European imports (Perez and Karingi, 2007). The decline in import duties due to the preferential tariff elimination has also been a major concern for West African countries (Busse and Grobmann, 2004). In particular, the reciprocity condition implicit in the agreement, implied that at some time before 2020, the ECOWAS countries must have to open up their economies to imports from the EU countries. This may invariably lead to trade diversion, trade creation, loss of trade revenues and deindustrialisation (World Bank, 2007; Adenikinju and Alaba, 2005). In a study on the impacts of the EU-ECOWAS EPAs, Lang (2006) found that Ghana and especially Guinea-Bissau could lose up to 20% of their Government budget revenues in case of a full liberalisation of EU imports. Although tariff revenue falls were considered highest in Nigeria in absolute dollar terms, those two countries will be the most affected. In a similar study on the impacts of the EU-ACP EPAs in six ACP regions, Fontagne et al (2008:6-7), ACP exports to the EU are forecast to be 10 percent higher with the EPAs than under the GSP/EBA option. On average ACP countries are forecast to lose 70 percent of tariff revenues on EU imports in the long run. The most affected region is ECOWAS. The implication of a loss of tariff income would translate into public budget constraints and could therefore pose great developmental challenges for ECOWAS countries. Nevertheless, both Cote dIvoire and Ghana agreed and endorsed interim EPAs with the EU in December 2007 (European Commission, 2009). These agreements were principally put in place because full regional EPAs could not be agreed upon. Of these three largest trading partners with the EU, Nigeria opted out of an interim EPA. For now, the country can only benefit from the regular EU Generalised System of Preferences (GSP). This is far less advantageous than the nonreciprocal Lomà © preferences because the GSP covers fewer products and has stricter rules of origin (Hurt, 2003). Though the Nigerian Government has twice applied to be placed on the GSP+ status, the EU has rejected the applications purely for political reasons (Nwoke, 2009). The rest of the West African region is largely made up of Least Developed Countries (European Commission, 2009). They have an option not to negotiate since they have duty free access to the EU under the ‘Everything But Arms (EBA) scheme (Orbie, 2008; Bilal, 2007). The EBA is the differentiation component of Cotonuo Agreement made in the treatment of least developed countries (LDCs) and non-LDCs. For these thirteen countries, the EPA may not carry additional benefits over the EBA except for the technical and financial support that the former may carry (Adenikinju and Alaba, 2005). So, their level of commitment to signing full EPA is marginal. It needs pointing out that the small gains which might result from the EBA initiative are expected to fade away as a consequence of the EU negotiations on EPAs (Kohnert, 2008). Besides, the contentious nature of EBA scheme due to its unilateral introduction makes it less attractive (Bilal, 2002). As Flint (2008:60) argues the EU has highlig hted further problems facing policymakers by the split into separate blocs of LDC and non-LDC. This is very illustrative of EU-ECOWAS relations. From the foregoing, it is discernible that in effect, the EPA will play a significant role in terminating the ECOWAS group as the main development partner of the EU. Prior to the EPA negotiations, ECOWAS countries have not had great success at significantly enlarging trade amongst member states. Intraregional trade as a proportion of total trade remains much lower in African regional integration (UNCTAD, 2009). And, with the new EPAs strategy that seeks for unilateral negotiation in practice, trade improvement amongst member states is further undermined (Borrmann et al, 2005). Concisely, the EPA is detrimental to the cause of regional integration. For EU-ECOWAS, the two principles of reciprocity and deeper regional integration are likely to pull in different directions (Lang, 2006). 1.6 AID FOR TRADE AND DEMOCRACY PROMOTION IN EU-ECOWAS RELATIONS The Aid for Trade initiative emerged within the Doha Round out of the need to help all countries to benefit from trade i.e. to maximise the gains from trade. Yet, demand for, and capacity to absorb, aid for trade still exceeds available resources (World Bank, 2005). The EU Aid for Trade strategy adopted in October 2007 confirms the European commitment to provide EUR2 billion per year in Trade Related Assistance by 2010 and to increase spending for the wider Aid for Trade agenda (ECDPM, 2009). A review of Aid for Trade however shows that donors have achieved their pledges simply by applying the modified WTO-OECD monitoring rules, without initiating any new projects (Brà ¼ntrup and Voionmaa, 2010). So, for ECOWAS countries whose capacity building and supply-side constraints have been a major factor in the lack of competitiveness and the relatively poor trade and growth performance (AU, 2006), Aid for Trade can only be meaningful if it is translated into genuine fresh aid for utilisati on. Also, the issue of democracy promotion in EU-ECOWAS relations is more of rhetoric than accomplishment. Crawford (2005) argument that the EUs interests in Africa focus less on democracy promotion and more on the perceived burdens and security threats to Europe arising from political instability and conflict seems more instructive and matter of fact. 1.7 CONCLUSION The EPA negotiations to establish a Free Trade Zone between EU and ECOWAS in line with Cotonuo agreement for a period of 12 years have significant implications on the economies of ECOWAS countries. Given the structure and trade patterns of ECOWAS countries in which manufactures account for about 75% of the EUs export to ECOWAS, full liberalisation of their economies will result in loss of revenue, deindustrialisation and will make the countries to be more vulnerable in the global economy. It is less to be seen if the IEPAs/EPAs negotiations would engender trade that will result in development and poverty reduction for the West Africa sub region. The trade cooperation upon which EPAs is founded symbolises regional integration in principles but its strategy of interim EPAs among individual countries of the region and EBA for least developed countries encourages unilateralism in practice. 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(2006) A partial equilibrium analysis of the impact of the ECOWAS-EU Economic Partnership Agreement Annual Conference on Global Economic Analysis, 2006, United Nations Economic Commission for Africa Lightfoot, S. (2010) EU and Economic Conditionality Free trade out of poverty? Lecture Notes March 2010 Mechanisms for delivery of EU Aid for Trade to ACP regions European Centre for Development Policy management (ECDPM), Maastricht (Netherlands), July 2009 Nwoke, C. (2009) EU-ECOWAS Economic Partnership Agreement: Nigerias role in securing development-focus and regional integration Prepared for presentation at the 2009 African Economic Conference, organized by the African Development Bank and the Economic Commission for Africa, on the theme Fostering Development in an Era of Financial and Economic Crisis, Addis Ababa, Ethiopia, 11th 13th November, 2009. OGBEIDI, M. (2010) Comparative Integration: A brief analysis of the European Union (EU) and the Economic Community of West African States (ECOWAS) The Journal of International Social Research Volume 3 Num 10 Winter 2010 Orbie, J. (2008) A Civilian power in the World: Instrument and Objective in European Union External Policies in Orbie, J. (2008) (ed.) Europes Global Role: External Policies of the European Union Aldershot; Ashgate pp. 1-34 Oyejide, A. and Njinken, D. (2002) African preparation for trade negotiations in the context of the ACP-EU Cotonou Partnership Agreement African Economic Research Consortium (AERC) Perez, R. and Njugun-Karingi, S. (2007) How to Balance the Outcomes of the Economic Partnership Agreements for Sub-Saharan African Economies? The World Economy, Vol. 30, No. 12, pp. 1877-1899, December 2007 Reisen, M. (2007) ‘The enlarged European Union and the Developing World: What Future? in Mold, A. (2007) (ed.) EU Development policy in a changing world; Challenges for the 21st century. Amsterdam; Amsterdam University Press Pg 29-65 Smith, K. (2008) European Union Foreign Policy in a changing World (2nd edition) Cambridge; Polity Press UNCTAD, 2009 Economic Development in Africa Report: Strengthening Regional Economic Integration for Africas Development. UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT New York and Geneva 2009 UNCTAD/ALDC/AFRICA/2009 World Bank (2005) Aid for Trade: Competitiveness and Adjustment Joint Note by the Staffs of the IMF and the World Bank April 12, 2005 Zouhon-Bi, S. and Nielsen, L. (2007) The Economic Community of West African States Fiscal Revenue Implications of the Prospective Economic Partnership Agreement with the European World Bank Policy Research Working Paper 4266, June 2007

Patriot Act 2: The Domestic Security Enhancement Act :: essays research papers

Patriot Act 2: The Domestic Security Enhancement Act   Ã‚  Ã‚  Ã‚  Ã‚  After the horrendous terrorist attack on the New York Trade Center a new Bill was passed by congress shortly after September 11, 2004. This bill is known as The Domestic Security Enhancement Act also called Patriot Act 2. This bill was designed as a follow-up to the USA Patriot Act to work in increasing government surveillance, detention and other law enforcement powers while reducing basic checks and balances on such powers. By the beginning of the year 2003 a draft of the legislation was available.   Ã‚  Ã‚  Ã‚  Ã‚  Amongst the most severe problems the bill diminishes personal privacy by removing checks on government power, diminishes public accountability by increasing government secrecy, and diminishes corporate accountability under the pretext of fighting terrorism. Also the bill undermines fundamental constitutional rights of Americans under overboard definitions of â€Å"terrorism† and â€Å"terrorist organization† or under a terrorism prete xt. Furthermore, unfairly targets immigrants under the pretext of fighting terrorism. (http://www.aclu.org/Safeand Free/SafeandFree.cfm?ID=11835&c=206)   Ã‚  Ã‚  Ã‚  Ã‚  The Patriot Act 2 would give more power to the government, eliminating and weakening many of the checks and balances that remained on government surveillance, wiretapping, detention and criminal prosecution even after passage of the USA Patriot Act. The Patriot Bill was drafted by the Bush Administration that would expand law enforcement and intelligence gathering authorities, reduce or eliminate judicial oversight over surveillance, authorities secret arrests, create DNA database based on unchecked executive â€Å"suspicion,† create new death penalties, and even seek to take American citizenship away from persons who belong to or support disfavored political groups. A few renditions and provisions of the bill is explained in the next few paragraphs. These are only a few of the examples of the powers the new bill will give the government. (http://www.cdt.org/security/usapatriot/030210cole.pdf)   Ã‚  Ã‚  Ã‚  Ã‚  In Section 201 authorizes secret arrests, overturning federal court decision requiring government disclose identity of persons it has detained during the 9/11 investigations. This part mandate that all arrests in connection to international terrorism investigations remain secret until indictment is filed. In our history we have never permitted secret arrests, it contradicts our rights and liberty.   Ã‚  Ã‚  Ã‚  Ã‚  In Section 312 end the consent Decrees Against Illegal Police Spying. Automatically eliminating any consent decree governing police spying abuse entered before 9/11 no matter the basis of the pronouncement. This section states that it would eliminate consent pronouncements for the future with respect to police spying, and place substantial restrictions on judicial injunctions   Ã‚  Ã‚  Ã‚  Ã‚  In Section 503 provide the Attorney General unchecked power to deport foreign nationals, including lawful permanent resident aliens.

The Canadian Town of Cheltenham :: Canada

The Canadian Town of Cheltenham PART A ------ Cheltenham is located in the town of Caledon. Cheltenham was found in 1822 by Charles Haines. Cheltenham is located close to the Credit River and the Canadian National Railway known as the C.N.R. The absolute location of Cheltenham is 43 45' North and 79 55' West. The setting of Cheltenham is a valley with the Nigara Escarpment behind it. Cheltenham is located at the south west point of Caledon. Cheltenham is located north of Toronto. Now in 1989 Cheltenham is mostly residential. There is some open space but very little industry now. There is one general store located in the centre of cheltenham. There is a cemetary located opposite of The Fire Hall. Cheltenham was chosen as a town because of the Credit River and the Canadian National Railway. The railway produced trasportation for goods to be delivered to other cities. The cheap efficient rail transportation also ment that Cheltenham's businesses had to compete against goods manufactured by mass production in larger urban centers to the south. Therefore the economy of Cheltenham would rise. The Credit River produce lots of Hydro electric power for the people of Cheltenham. The two main reasons why the site was chosen for a town was the transportation produced by the C.N.R. and the hydro electric produced from the Credit River. Part B ------ The land use at the mill pond area between 1850-1870 in Cheltenham was mostly industrial uses. Most of the industries or buildings were located very close to each other because they all depended on each other. The industries in Cheltenham were located close to the Credit river.

Student Athlete Recruiting :: Recruitment Sports Essays

Student Athlete Recruiting Lamarr Monterio, a sophomore wide receiver at Northeastern University, propelled his high school football team, Oliver Ames, into a winning team. â€Å"I was the first player to be recruited for a Division I school in years,† Monterio said. He broke numerous state records and received a lot of publicity as a corner back at Oliver Ames High School in Easton, Massachusetts. He said that he started to receive letters from recruiting schools right before he started his junior year. â€Å"I probably got 12 shoe boxes full of letters. Senior year is especially hectic because coaches call and visit a lot,† said Monterio. The NCAA has a set of rules, which universities follow for recruiting, and it states that a Division I college recruiting a high school player can start sending printed materials on September 1st of an athlete’s junior year. This can include official academic, admissions and student information, any publications or videotapes published by the college, and any general correspondence. The general rules by the NCAA state that the activities by coaches or boosters that cause a player to become a recruited prospective student athlete are: †¢ Providing an official visit †¢ Placing more than one telephone call to the recruit or other members of the family; or †¢ Visiting the recruit or any other member of the family anywhere other than the college campus. The universities that sought interest in Monterio were the University of Massachusetts Amherst, Northeastern University, University of Rhode Island, University of Connecticut, and the University of Maine. They sent him many letters and videotapes during his junior and senior year at Oliver Ames. The coaches from these universities also visited Oliver Ames to watch him play. Recruits are allowed five visits, official and unofficial, to colleges. The college covers the expenses on an official visit. The recruits have to provide their own transportation on an unofficial visit. Monterio chose two universities for an official visit, which were Umass-Amherst and the University of Maine. â€Å"During the day I spent time with the coaches, administrators, and advisors, and from then on I spent time with my host,† said Monteiro. Prospective Student Athletes (PSA) are often given a host, usually someone who has something in common with the PSA, to show them the school’s campus and other places in the area where the school is located. Monterio said after discussing his visits with his family and comparing Umass-Amherst to the University of Maine, he decided to go to Umass-Amherst.

Groupe Ariel Sa Case Analysis Essay

This case discusses Cross-Border valuation of projects. This kind of analysis is common for companies that are operating in many countries. Groupe Ariel is one such company that is considering investing in a project in its own subsidiary in Mexico. The company manufactures and sells printers, copiers and other document production equipment in many countries. As far as, expansion into new markets is concerned, company is very slow in taking initiatives as compared to its competitors owing to the recent recession. But the management of the company believes that better durability and lower after-sales service costs of their products enable the company to build customer loyalty. The company is now considering replacing the manual equipment used for recycling in Mexico by new equipment that requires less material and labour costs. But, the uncertainty linked with certain macroeconomic factors like exchange rate, inflation and interest rate has made the valuation of the project very comple x. Compute the NPV of Ariel-Mexico’s recycling equipment by counting incremental peso cash flows at a peso interest rate. How should this NPV be translated into Euros? Assume expected future inflation for France is 3% per year. For the purpose of calculating NPV in Pesos, incremental cash flows of the project for the next 10 years should be calculated first. The initial outflow of cash flow at time â€Å"0† is the cost of new equipment. This cost is 3500,000 Pesos. The cash value of 175,000 Pesos obtained by selling the manual equipment should be subtracted from this amount to come up with the net out flow. As far as, the inflows of cash for next 10 years are concerned, they can be calculated by taking the difference of the cost of operating both manual and new equipments. The tax savings owing to the depreciation of the new equipment can be calculated by multiplying the corporate tax rate of 35% with the amount of depreciation each year. These amounts of tax savings should be added to the incremental cost savings for each year to come up with the total cash inflows. The present value of all thes e cash inflows and outflows can be calculated by discounting them at 12.19%. This rate is calculated by assuming that the purchasing power parity holds in this scenario. The company can do the feasibility analysis by looking at both from the subsidiary’s and parent’s perspective by assuming that the purchasing power  parity holds. Hence, this rate can be regarded as opportunity cost of investment because it is the second best alternative for the company for investment purposes. So, the NPV can be calculated by taking the sum of present values of all the cash flows. This NPV comes out to be 3,703,176 Pesos. This NPV value can be converted into Euros by dividing the NPV value by the spot exchange rate. The spot exchange rate is 15.99 MXN/EURO. Hence, by dividing 3,703,176 by 15.99, NPV value in terms of Euro comes out to be 231,593 Euros. Compute the NPV in â‚ ¬s by translating future peso cash flows into â‚ ¬s at expected future spot rates. Note Ariel’s â‚ ¬ hurdle rate for this asset class was 8%. Annual inflation rates are expected to be 7% in Mexico and 3% in France. NPV calculated for this scenario comes out to be 231,507 Euros. The first thing required for calculating NPV in Euro is the forward premium. It is calculated by adding 1 to the inflation rates of France and Mexico respectively, and then by taking their ratio. This ratio comes out to be 1.0388. This ratio is then multiplied by current exchange rate of 15.99 MXN/EURO for every year. This exercise gives the prediction of exchange rates for next 10 years. The cash flows in pesos are then converted into Euros by dividing them by the relevant exchange rate. Once the cash flows are obtained in Euros, their present values can be calculated by using the hurdle rate of 8% as the discount rate. NPV can then be obtained by taking the sum of presen t values of all the cash flows. Compare the two sets of calculations and the corresponding NPVs. How and why do they differ? Which approach should Arno Martin use? Relate your answer to the textbook’s treatment of parity disequilibria in capital budgeting. NPV calculated for the first question is higher than that calculated for the second question. The difference (231593-231507) is 86 Euros. This difference explains that the project has more value for investors in Mexico. The value addition of this project is more to the subsidiary of the company in Mexico as compared to the parent company in France. Hence, the company should hedge the foreign exchange risk to reduce exposure to the currency risk. Hedging provides the company with higher expected value and lower risk. Suppose Mexican inflation is projected at 3% instead of 7% per year. Assume French inflation remains at 3%. How does this affect the NPV calculations? If, the inflation rate for both the countries remains the same i.e. 3%, then in that case, the forward premium comes out to be 1. Hence effectively, the exchange rate remains the  same for next 10 years i.e. 15.99 MXN/EURO. By dividing the cash flows in Pesos by this exchange rate for every year, cash flows in Euros are obtained calculated for this scenario. These cash flows are then discounted at the hurdle rate of 8% used for assets in France by the company. The present value of these cash flows is then added to come up with the NPV. This value comes out to be 332,459 Euros. Hence, the value of NPV has increased by decreasing the inflation rate of France in the analysis. Since, the inflation rate is the same in both countries, exchange rate also remains the same and the values of cash flows in Euro terms come out higher for every year. Suppose Ariel expects a significant real depreciation of the peso against the Euro. How should Martin incorporate this expectation into his NPV analysis? For simplicity, assume inflation is expected to be 3% in each country. What is its effect on NPV under each of the approaches in questions 1 and 2? This expectation of a real depreciation of Peso against Euro is essentially an exchange risk. Real depreciation of Peso against Euro means a greater exchange rate. Hence, this aspect can be incorporated in our analysis by increasing the exchange rate for every year that reflects the real depreciation in value of Peso. This change will not have any effect on the NPV calculated in Pesos. However, since the cash flows for NPV calculation in Euros are obtained by dividing the cash flows in pesos with the exchange rate, their value in Euros will be lower. Therefore, NPV of these cash inflows and outflows should be less. Firms can face violations of the parity conditions in addition to the parity violation in Question 5. What might these violations be, and what might be their consequences? Besides real depreciation in the exchange rate, there are many other ways in which parity conditions can be violated. Any sort of risk that is unique and effects businesses more in one country than another leads to the violation of parity conditions. Risks like political risk and exchange risk may lead to the violation of law of one price. These risks emerge from changes in government policies related to tariffs, quotas, trade agreements and inflation. These violations make the valuation of international projects more complex. The local perspective of a project in a country may be lead to very different conclusions as compared to an international. So, a project may prove to be very profitable for a local investor, but the same project may not be as attractive for an international investor. Similarly, some  projects appear good for an international investor while a local investor may incur losses by investing in the same project. Are there any real options embedded in Ariel’s decision? What is a real option, anyway? Yes, there is a real option embedded in Ariel’s decision. This real option refers to the option of replacing the manual equipment by the new equipment to increase the profitability. Real options are similar to the options of financial markets as far as the option of investing, or abandoning is concerned. Real options essentially mean having the real and tangible option of accepting or leaving a project if circumstances change. NPV analysis ignores this option and hence it is normally regarded as a more conservative capital budgeting technique. Just as, a call premium or put premium is the price of having the option, initial investment is the cost of real option. When an option is in the money, it means that the option holder can earn that amount by exercising the option. Similarly, in case of real options, a positive NPV refers to the value addition if the project is accepted. Should Group Ariel approve the equipment to purchase? A positive NPV of a project means that the project will give a return higher than the hurdle rate and the dollar value of NPV is the value addition to the company. The NPV in all the scenarios has a significant positive value. Hence, the company should approve the equipment purchase because the project adds value to the company. As far as, exchange risk is concerned, it can be minimized by the parent company through hedging. If the firm does not choose to hedge, then the discount rate should be adjusted upwards to reflect higher risk.

Development Methods

Agile software development refers to the processes and methodologies of software development which are based upon the implementation of iterative development with the help of a joint venture through which solutions are devised by making use of cross-functional teams. Coined in the year 2001 with the promulgation of the Agile Manifesto, this special program of computer program development mainly focuses on the philosophy of leadership and accountability with the intention to fulfill the needs of customers and achieving company goals. Moreover it does not only emphasize on best teamwork practices but also promotes best industry practices.Hence agile methodology of software development is extremely beneficial for industries and software companies as it provides a greatest number of myriad benefits at their disposal (Reifer, 2006). On the flip side we have the traditional method of computer program and software development which includes a number of different methodologies which can be u sed in various ways for the fulfillment of objectives through traditional methods. Traditional methods are commonly classified or labeled as all those methods of software development that cannot be categorized or accommodated in agile development method.Therefore when talking about traditional methods we have at our disposal some of the ways that are known as iterative development procedures, waterfall methods and even cowboy tailoring, hence in a nutshell it encompasses all those characteristics or most of them that are not the salient feature of the agile method of software and computer programming, hence with increasing innovation and advancement taking place in the technological sector the efficacy and credibility of traditional methods of software development is slowly and steadily decreasing (Lewis, 2008).Salient features of each methodology As stated earlier that some of the major characteristics that are among the prime features of agile method of software development due to which it is considered highly preferable for computer companies in contemporary times. All the methods that are described and accommodated by the agile method promote teamwork, collaboration and adaptability to the changing environment and scenario of the technological mainstream.Since agile method accentuates upon the feature of adaptability potentials with the passage of time most of the computer programs that are made by using agile methodology do not focus on long term planning. Each iteration that is designed by using the principle designing features of the program consist of short time frames or time boxes as they are professionally referred to as. These time boxes last for minimum two to a maximum four weeks.However it is worth mentioning here that every fragment of information that is designed using this method of software technology uses and adheres to the principles and features of proper analysis, observation, market strategy prevalent at that specific period of time and involves proper and well-coordinated collaboration of all team members that contribute their opinion and perspectives after which the decision of software developing is finalized and presented to the major stake holders of the company (Highsmith, 2002).With all such features incorporated well in the entire project that is looked forward towards designing the probability of risks and hazards that can affect the entire project in adverse ways minimizes substantially and at the same time makes the entire computer program highly susceptible and non-immune for the adaptability of changes that can easily be made in the rudimentary mechanism of the entire computer program to make it suitable and usable in the long run.As far as the features of the traditional methods of computer program development is concerned since there are many methods that can be classified under the banner of traditional method, each method has its own dos and don’ts. For example some of the salient features of the Waterfall Method which is known as one of the structured organized of all traditional methods follows a strict procedure of stepping through requirements, analysis, design and coding in an at all once sort of a way which basically halts the sustainability and longevity of the computer program being designed.In contrast to this we have the cowboy method which does not follow or adhere to any specific rules and regulations of software program development and n which the team that is developing and designing the program have complete liberty as a result of which the outcome is not as effective and long-lasting as made by following other program and methods of software development (Kram and Tsui, 2009). Pros and Cons of each methodologyEvery program of software development is accompanied with its own pros and cons and similar is the case of agile and traditional methods of computer program development. We will have a look at some of the advantages of the agile method and procedur e first. The biggest advantage that web and software developers when using agile methodology is that the program outcome of this software is highly adaptable and possess the ability of undergoing changes and alterations that makes it adaptable to the dynamically changing environment of the technological and web arena.A further benefit that is an extension of the former one is that the developing and technical team does not have to invest further time, effort and resources to cater to the needs of the client that has altered, if such a condition does take place which is frequent enough slight or even substantial changes can be made without exerting oneself too much or without wasting too much time and further resources to ultimately gratify the client.Another very positive point of using agile method for computer programming is attributed to the presence of constant face to face communication between the developing team and that with the customer leaves no space for speculation in th e work and the kind of task that has been undertaken by the company itself.Furthermore the documentation made through agile methodology is short, concise, and crisp and is targeted specifically to the point that is required by the client without any redundant and irrelevant information. With the collective and flawless consolidation of all these factors the software prepared by using this methodology is as demanded and as per the requirement of the customer. Once done with this lets have a look at some of the cons and don’ts that are related to agile method.It has normally been viewed that the software development prepared using the agile method is limited in benefits to short scale projects, if large scale projects are prepared using this method their effectivity and credibility may not last long mainly because of the fact that in large scale projects it become difficult to evaluate the effort and scope of resources that needs to be invested in the preparation of the project during in its initial stages of software development cycle in particular.Secondly, another shortcoming of agile method also lies in the fact that it does not completely emphasize on the preparation of mandatory documentation and designing which are some of the elements that are extremely important and dire for any software program and for the maintenance of its efficacy.Agile methods are always accompanied with the threat that the customer or the client may easily withdraw or rollback the entire project if he is not able to understand the objectives that the project needs to fulfill and the benefits that the project can extract for him as a result of which the entire project and the resources and effort invested in it will go in vain.Moreover it is also worth mentioning here that agile method of program development is carefully and manageably handled by professional, highly qualified, experienced and learned computer professionals so that they possess all the necessary skills in co mmunication as well as adequate technical expertise to satisfy all the myriad and diverse requirements that the client needs in the computer program he is looking forward to design. Once done with the advantages and disadvantages of agile methodologies of technical software development we now move on to the pros and cons of traditional methods (Sanja, 2010).Since traditional method accommodates a wide array of different methods and procedures some are effective and advantageous whereas others do not share the same level of credibility and usage. Some of the traditional methods that are used such as the Waterfall method is highly accredited as some of the most organized and well-managed ways of software development due to the high level of convenience and simplicity it offer at the disposal of the client. Waterfall Method which is among the most prominent method of traditional development offers the effective departmentalization of resources and expertise as well as of managerial con trol.It also follows some of the key principles that are vital for the success of any project; these include analysis of an issue through all ways and magnitudes through proper consultation and recommendations from all major experts involved in the process, but despite of this a major drawback that is offered by the usage and adherence to the principles of traditional methods of software development are that the software program constructed by making use of traditional methods do not have the potential of turning back or reverting the process that has been established once, as a result of this if a client demands an alteration in the basic mechanism of the program that ahs initially been designed for him, the company employees and the technical staff involved in the making of the program will have to start from the scratch in order to incorporate the change demanded by the customer. This will also require greater investment of time, resources and efforts from the entire team in orde r to conform to clients needs.When such processes take place time for other projects that are pending have less time for their completion as a result of which a chain reaction of chaos, anomie and mismanagement initiates that disturbs the entire process of effective management (Keith, 2007). The affectivity of each software development method depends on the kind of the client and the requirement of the client that it is dealing with. In contemporary technological mainstream we see that the entire business of Information technology has been shifted overseas and are being handled primarily by countries that can provide ample and low cost labor force such as China and India.In such cases these countries work for many of the software companies located in United States and other major economies of the world and their companies like Microsoft, Dell and Hewlett Packard, therefore the choice of the software that they demand has to be satisfied under all conditions and the requirements and n ature of the software in turn determines the kind of the software that needs to be used for the making of the software. In some cases the company might show interest in developing software though agile while in other ways traditional methods have to be applied. Hence in a nutshell the affectivity of each methodology of software making depends on the requirements of the client and the nature of the software that needs to be developed by the concerned organization.Requirements and demands may also vary at a local level for example a local Indian software company known as Satyam mostly shows interest in developing software through agile methods as alterations in it can readily be achieved to cater to the needs and requirements of their target audience. In some circumstances it is also a possibility that the software model and the specializations and expertise of the company involved in providing technological services come into consideration when choosing the methodology being applied. Some companies despite of client reliance and coercion apply tactics in order to convince the client the best way through which his services can reach his specified target audience in order to make sure that the capital investment being made by the client provides him maximum benefit in the form of the services being provided by the software company itself (Hass, 2007).