Research Paper on Obesity in America

Obesity has become so prevalent in today’s American society that a lot of people view it as a serious national threat. Indeed, obesity can devalue a lot of achievements of modern society, depressing the quality of life despite scientific progress. The consequences of obesity are so diverse that the far-ranging effects of this problem transgress aesthetic or medical boundaries and make it a social phenomenon.

Still, the first thing that comes to mind is the medical consequences of obesity that are both diverse and serious in their impact on a person’s health. The American Obesity Association has come up with an extremely long list of conditions that are directly or indirectly linked to extra weight. These conditions include arthritis, birth defects, various types of cancer, Carpal Tunnel Syndrome, cardiovascular disease, heart attack, Deep Vein Thrombosis (DVT), daytime sleepiness, chronic venous insufficiency, gallbladder disease, diabetes, gout, heat disorders, hypertension, liver disease and many others (AOA).

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Obesity depressed the immune reaction of the body to infection thus increasing the risk of infectious diseases. Severe obesity can depress menstrual activity in women, put them at risk for disorders during pregnancy, lead to problematic deliveries and birth defects. The list that is far from complete demonstrates connection between being heavily overweight and development of virtually all conditions that are major death causes nowadays, with the exception of AIDS. This brings one to the tentative conclusion that overcoming obesity could seriously improve life expectancy. Most definitely, such a victory would contribute to dramatic improvements in the health condition of the US population.

But obesity is not only linked to physical health – recent studies show the connection to mental health as well. Although a direct link between obesity and mental disorder has not been established, researchers point out that one can cause the other and vice versa. Individuals whose weight is concentrated mostly around their waist are in a risk group for developing the so-called metabolic syndrome that accompanies weight accumulation and is linked to depression. Such people choose to “console themselves with “comfort food”, which is usually high in fat, sugar, and calories because they are anxious, lonely, angry, or suffering from low self-esteem” (Harvard Health Publications). Some particular types of depression include symptoms such as lethargy and overeating. Besides, obesity can cause depression indirectly: after it triggers poor health condition, this illness leads to depression. Obese people also do not benefit from the positive psychological impact of exercise, which aggravates their risk for developing depression.

Problems with mental health can also be connected to the psychological effects of obesity. Contemporary society, for all the prevalence of extra weight, continues to worship ideals of beauty that are incompatible with obesity. Quest for physical beauty, especially among adolescents, and those who do not fit into a set ideal are pushed to the sidelines of social interaction and, in particular, romantic relationships. Thus, being obese can cause problems with socialization, exacerbating the negative effect of this phenomenon.

So far we have discussed the negative consequences of obesity on an individual level, but it is also linked to broader social woes. Thus, the established connection between this condition and health problems can boost health care outlays in the future, raising the already sizeable medical costs. If US citizens continue to put on extra weight at the same alarming rate, this will lead to a serious rise of expenses in the Medicare program. A study by Martha L. Daviglus, M.D., professor of preventive medicine, looked into the impact of “body mass index (BMI) earlier in life on Medicare expenditures for treating cardiovascular-related disease, diabetes-related disease and total average annual Medicare charges, as well as cumulative Medicare charges, from age 65 to death or to age 83” (Obesity in Middle Age). The research that used data for Medicare outlays and input from the Chicago Heart Association Detection Project in Industry found a strong correlation between the size of the charges for Medicare and the weight of the person. Thus, the annual charge for a non-overweight person averaged $6,225; an overweight person consumed on average services’ worth of $7,650, with the same indicators at $9,610 and $12,340 for obese and severely obese people. Thus, obesity leads to increased financial burden on the future generations that will have to provide for the current generation as it gets older and develops severe problems connected with obesity. Given the demographic trend of aging evident in most developed nations, expenditures on medical programs can rise to even higher levels, with obesity being one of the most important contributing factors.

Moreover, on the broader social level, problems with socialization can impair effective functioning of obese people in professional environments, thus lessening their productivity in the workforce.

Research indicates that schoolchildren who suffer from extra weight experience “psychosocial effects which are likely to impact on their self-image and self-esteem” (Gordon 2005). Lower self-esteem can impair a child’s performance at school, depress initiative and result in lasting psychological effects the person will carry into maturity and professional experience. In this way society as a whole is going to suffer from increased obesity of its members.

In the US, physical inactivity and obesity can soon be expected to lead as the cause for human deaths, overtaking smoking that remains the primary death cause with 435,000 deaths in 2000. This compares to 400,000 deaths caused by physical inactivity and extra weight, and the trend will soon exacerbate as “fewer Americans are smoking but more are gaining weight” (Leonard, March 10, 2004).

Summing it up, obesity has serious consequences that appear both on the personal and social level. Putting on extra weight can trigger grave medical problems, lead to mental disorders such as depression and affect the process of socialization. It is also harmful to society, impacting the professional input and quality of life of its members, as well as boosting health care expenses. For these reasons, society should strive to reduce obesity levels and advocate a healthy lifestyle.

Do you see, the kids in the picture above? Do you want your kid to look like the boy in a cute red/black cap and basketball shirt? Why not? Do we realize that this guy is obese? He has social problems in school, he has high cholesterol level, and increased blood pressure. Do you realize that he cannot run a mile and he sweats after just a few moves? Would you believe that his endocrine system is already messed up and that he cannot develop into a normal adult without medical help? If he continues his current lifestyle, he will never have a girlfriend, and if he happens to have one he will physically be unable to have sex. As time progresses he will likely develop diabetes that will have him get his legs amputated at some point. Or perhaps, he develops gallstones, and some major heart disease that will end up his miserable existence sometime before he turns 40 unless getting constant medical help. Let’s be honest, there are many people like this guy on the picture living in the USA and there is a great chance that you or your kids will look one day as the guy in the picture if you happen to eat the food this guy eats. Do you like this guy now? If yes, welcome to McDonald’s and the realm of fast food and obesity.

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Corporate Social Responsibility Research Proposal

Research Proposal on Corporate Social Responsibility (CSR)

Today it is widely recognized that corporations are actors that must have responsibilities as to how they conduct their business. This concept has been around for couple of decades already, however only lately it has started to be given the applicable recognition by corporation themselves and the individuals. This short paper will define what corporate social responsibility (also referred to as CSR) is as well as provide approaches to this concept and ways in which CSI can be implemented by corporations worldwide.

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Corporate Social Responsibility is a form of corporate self-regulation, principles of which are integrated into a business model and strategy. Preferably, CSR policy should be a mechanism that functions independently and is purely built-in the corporation. In the framework of this policy the business is expected to supervise and guarantee the observance of law, ethical standards, and domestic and international norms (Bulkeley, pp. 430-432). A corporation should hold responsibility for the impact of its activities on the consumers, environment, employees, stakeholders and all other members of the society. In addition, it should vigorously support the public interest eliminate practices that harm people, regardless of legality or profitability. For all intents and purposes, corporate social responsibility should be based on three “P principles”, that are: People, Planet, and Profit (Friedman).

Corporations are usually influenced to adopt CSR policies by “ethical consumerism” that is especially appropriate today when our planets became so vulnerable. Other drivers are market forces and laws and regulations, as well as stakeholder priorities. The latter is named to be a CSR driver because companies are expected to be aware of their responsibilities by their important stakeholders. This is so because the players of big business today understand and value the importance of the social and community issues that have to be addressed (Roberts, 595). 

There are three main approaches to CSR. The Classic Approach suggests that only those who are on top of the corporation are accountable to shareholders. This is so because the mangers are purely selfish and are seeking only to enlarge their profits (Friedman). Socio-Economic Approach “relies on the basis of the relationship of State-Civil Society”. It assumes that the company’s behavior depends mainly on the country it is situated in, because the state governs this company and its actions. Thus, the state is considered to be fully responsible. The Humanistic Approach is applied when various organizations, decide at the Forum on World Goodwill as to who holds the responsibility for corporate actions (Legrand).

There are many benefits for a corporation that values the principles of corporate social responsibility. First of all, high CSR makes an enterprise attractive for the new employees, the latter, of course, are more willing to be employed in the company that cares about the outside world, assuming it would give more care to their needs as well (Orlitzky, 403). Secondly, corporate social responsibility creates a good image and reputation for a company and it can use this prestige when dealing with possible business problems (Maignan, 3-5). Lastly, when showing awareness and readiness to implement CSR policies, it makes it obvious for the government and the public that it follows honest business politics and has nothing to hide (McWilliams, 3-4).

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Bankruptcy Research Paper

Research Paper on Bankruptcy

The article in Business Week from the 10th of November “Circuit City Files for Bankruptcy” tells that the nation's second-largest consumer electronics chain has filed for Chapter 11 bankruptcy. It is quite ironic, because this gigantic chain has driven out of business numerous entrepreneurs.

According to the law, a company is allowed to implement a reorganization plan if it files for Chapter 11 bankruptcy. In this case, the control of the debtor’s assets is retained by the company’s executives who propose a plan of reorganization to the creditors which changes the terms on its debts; a plan of reorganization for the bankruptcy has to be approved by court. 

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The plan has to gain the approval of the creditors, most often a committee composed of seven creditors with seven biggest claims. Creditors will make their decision on the information contained in the disclosure statement that sheds light on the company’s assets, liabilities and financial ability to realize the reorganization plan.

The plan of reorganization needs to provide information on secured and unsecured classification of claims and how each class of claims will be treated under the reorganization plan. All claims are separated into classes, with regard to their nature, such as secured or unsecured claims. These classes are defined as impaired or unimpaired, with only impaired classes having the right to vote for approval or disapproval of the company’s reorganization plan. The court approval of the plan can only occur after the plan garners the approval of at least one impaired creditor class.

Experts are not very optimistic about the future of Circuit City, because successful Chapter 11 reorganizations in such industry are rare. Consumers most probably will not buy gift cards or products with extended warranty from a company that has filed for bankruptcy. One of the examples of retailers that have filed bankruptcy is Tweeter. It has undergone reconstruction last year, but now has filed again for Chapter 11 and is going to shut its remaining outlets.

Circuit City is planning now to shut down 155 out of it 1400 stores. The competitors are planning to take advantage of the situation and increase their market shares at the expense of Circuit City’s customers. 

Wal-Mart, Target, Best Buy and online retailers have been actively gaining market shares lately.

Business Week has already written several months ago about anticipated bankruptcy of Circuit City and the company’s stock was loosing its market value for the last two years.

Businesses can fail for various reasons most of which boil down to poor financial and marketing plans that lead to cash crunches when companies are unable to meet their long- and short-term obligations from their cash inflows. Bankruptcy in the past is certain to affect credit rating, leading to a surge in borrowing costs.

Moreover, obtaining a new loan in the first two years after filing for bankruptcy is on the verge of the impossible.

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Michel Foucault Research Paper

Research Paper on Michel Foucault

Michel Foucault (1926-1984) was a French philosopher, one of the most important figures in the development of the Critical theory and considered among the most influential intellectuals in the 20th century. In his work, Foucault tried to combine between history and philosophy and to establish a new school of studying the history of thinking mechanisms.

Besides his intellectual and academic involvement which we will explore in part below, Foucault was known as a political activist during the troubling days of France during the 1960s. His private life were quite wild; he was known as a homosexual and lived hedonist life, especially during his last years which he mostly spent in the US. He was infected by the HIV virus, which eventually led to his death and helped to a better understanding and social sensitivity towards the carriers of this disease.

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As mentioned, one of Foucault’s main fields of study was thinking processes, in particular the development of critical thinking as a basis for the thinker’s state of mind and his perception of the world. In his book “The Order of Things” (L'ordre du Discours), based on his opening lecture in College de France, Foucault devoted attention to concepts and methods of discussion and control, criticizing the dominating conceptions in which people tend to evaluate opinions, rationality and the limitations of judgement. The main argument in the book is that different historical periods varied in regard to hidden perceptions of true and false, and those were presented as scientific truth. Moreover, those perceptions were temporary, as the writer reveals substantial and relative changes between periods another.

Interestingly, Foucault decided to open his manifest with a thorough analysis of the 1656 painting “Las Maninas” (The Maids of Honour) by the Spanish artist Diego Velazquez. Let us spend a moment to describe the work:

The painting depicts the Infanta Margarita, daughter of Philip IV king of Spain. She is surrounded by her maids, her dwarfs and her dog. To the left of the picture we can see Velazquez himself, partially hiding behind a big canvas and working a painting. On his left there is a mirror, in which a reflection of the royal couple can be seen. Velazquez arranged the characters in a very interesting manner. Although she is the smallest figure in the painting (besides the reflection of her parents), the Infenta is without a doubt the centre of the composition and the main source of movement in the work, as the two maids kneel to her from both sides. The dwarf, who is as tall as the Infenta, is grey and ugly, whereas the Infenta looks glamorous, fragile and astonishing. 

Foucault finds the composition of figures as incredibly genius. Although they are hardly to be seen, it is possible that King Philip and his queen are in fact the theme of the painting, as all the others’ attention is on them (parallel reality); the looks at them as they are being painted (as we can assume, although we cannot see the front side of the canvas). In addition, the whole situation seems as a visit of the Infenta in a studio where her parents are being painted.

However, as spectators we stand where the royal couple is presumably located in the room, as if we are not a part of the scene. Since we cannot see the painting, it is possible to assume that Velazquez is currently working on our portrait at the moment; while we are watching the actions of the princess and her maids, the painter looks at us, examining us and creating a situation of dialog between him and the spectator at the time. When the spectator moves away from the painting, a new dialog will start with the next one and so on. The artist can also move from the shaded area where he stands to behind the huge canvas, where a third reality (in addition to the studio and our current physical space) takes place. 

Foucault move forward to claim that Velazquez broke conventions of space and generally accepted principles of relations, such as those between the spectator and the artist and between the latter and his model and work. The painting creates an open reality where it is impossible to know exactly which the inner and outer sides of the work are, what is real and what is merely a reflection and when the past, present and future take place. 

The painting is bordered from both sides by a trace of window (light) on one side and the canvas on the other. This a a symbolic confrontation between the visible and enlightened and the hidden which turns its back on us.

All the representations in the painting (the pictures hanged on the wall and the canvas) are faded and it is almost impossible to see what they represent. Hence the unique appearance of the mirror, which looks as if it has some internal light. The frontal space separates between our reality (in the back of the room) and the back, darkened wall, which is composed from representations (the pictures without much details) and a hint for reality (the mirror). The topological structure of the painting becomes stronger when considering the fact that a thorough study of Velazquez’s works has found that the only painting which match in size to the canvas in the painting is “Las Maninas” itself; hence another paradox is added to the spectator.   

Looking at the picture, the observer cannot find the borders of space, as the two possible spaces (inside and outside the painting) interact with the third one. As there are endless combinations and individual solutions to create an understanding of this situation (painting a portrait while other things take place in space and time), we can consider this work as painting about painting (Ihde, 2003) and not as a plastic representation of a certain reality. Moreover, not only painting is discussed here, but the change in perceptions through the centuries, as reflected through the art of the time.

On the philosophical level, Foucault’s main interest is to use this visual example as a starting point to his analysis of the representation and its development from the Classical Age to this time. The painting represents the three aspects of representation, namely the producer of the representation, the element being represented and the viewing of it. The presenter in this case is the painter, but he can be just as well a scientist or an historian. The element is the model being painted. As mentioned, Velazquez lets us to decide who and where the model is, including the exciting option that it is us, in addition to being those who receive and examine the representation, or the final product.

The lack of space, time and define relations serves the writer’s point that it is impossible to bring all these elements into a unified mechanism. It also serves as a turning point in the understanding of representation over time, from a bounded sphere where God (or gods) is the only source of judgement to a critical, interdisciplinary perception. As there is more than one source of understanding it is clear that perceptions can vary, leading to changing boundaries of the boundaries of discussion and observation.

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Macroeconomics Research Proposal

Research Proposal on Macroeconomics: Hyperinflation in Romania

Sometimes inflation rates get completely out of control, which in extreme cases can lead to hyperinflation. Hyperinflation is very rapid inflation reaching 50, 100, 200 or even more percent per year. Hyperinflation is usually described in monthly terms and starts at 50 percent monthly inflation, even though there is no common definition. During the hyperinflation the prices rise very fast at an ever-accelerating rate so that money cease to be useful as a medium of exchange and a store of value. Hyperinflation is many cases in history was extremely difficult to manage. When people receive money they rush to spend them as soon as they can. People who posses goods become more and more reluctant to accept the depreciating money until no one wants to accept money on any terms.

 

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Hyperinflations do not occur very often, however, there are some documented examples of hyperinflation throughout the history. Hyperinflation occurred with continental (currency of that time) during the American War of Independence and the rouble during the Russian Revolution. Severe hyperinflation occurred in Germany in 1923 reaching 332 percent monthly; in Greece, Hungary and China in the years after the Second World War. Most of the hyperinflations in history were accompanied by a very unstable political situation, often wars and revolutions. Hyperinflations were usually caused by great increases in the money supply – new money were printed to give the governments purchasing power that they could not obtain from the taxes. In Serbia, for example, during 1993-1994 the inflation rates were absolutely mind-blowing – 302 million percent monthly. In January 1994, prices were rising faster than 100 percent an hour.

During the 1990s hyperinflation occurred in Angola, Argentina, Belarus, Bosnia-Herzegovina, Brazil, Georgia, Mexico, Nicaragua, Peru, Poland, Turkey, Ukraine, Yugoslavia, Zaire and Zimbabwe. Romania is one of the post-Soviet countries where hyperinflation took place during the 1990s.

The regime of Nicolae Ceausescu fell in Romania in 1989 and since then the new government tried to coupe with the difficulties that arose on the way of democratization of the country and privatization of the sate property. Many lands were returned to the original owners, some state industries were privatized and government subsidies to industry were eliminated. However, the progress was not very fast, in addition to local difficulties, there was the World economic slowdown.

The private sector in Romania was continuously growing since 1989, but since 1996 government spending was consuming all the gains. During the 1990s, constant price increases and food shortages led to civil unrest. For many Post-Soviet countries the 1990s with the movement from planned economy to market economy were difficult times and Romania was not an exception.

The economic recession was marked by a dramatic 25 percent decrease in economic output from 1990 to 1992, deterioration of the labor market and high rates of unemployment. The hyperinflation in Romania has lead to deteriorating living standards and financial scandals. The level of corruption in the country was impressive. Romania enjoyed a temporary export-fueled recovery from 1993 to 1995, but then very restrictive economic approach returned it back to a deep economic and financial crisis. Macroeconomic indicators deteriorated dramatically.

The highest denomination before 1996 was 10,000 Lei. By 2003 it was 1,000,000 Lei. In the 2005 currency reform, 1 Leu was exchanged for 10,000 old Lei.

Only in the 2000 the Romanian economy was finally stabilized. Since then it has been constantly growing 5.3 percent over the past five years despite a slowdown in the global economy. In 2004 the national economy impressively reached 8.3 percent and GP finally grew above the level of 1989. Because of the fiscal discipline in the recent years, strong economic growth and the accompanying favorable developments in budget revenue, the government has been able to reduce the budget deficit to below the critical for European Union 3 percent mark.

In 2005 the government launched currency reform – redenomination of the currency at a ration 10,000 to 1. Flat tax of 16 percent was introduced as of 1 January 2005. Many big national enterprises were privatized. Romania has complied with key demands of the EU and the IMF and on 6 October 2004 Romania received the status of a functioning market economy. Romania joined the European Union in 2007, and its currency is now pegged to Euro.

The largest denomination issued was 1 Million lei before the currency revaluation on July 1, 2005 which made 10,000 “old” lei equal to 1 “new” lieu. As of January 1, 2008, the “old” lei notes can still be redeemed for reevaluated notes at some Romanian National Bank branches.

Hyperinflation usually happened in very difficult, unstable times – when the empires were falling apart, governments collapsed, during after-war times or social unrests. Most of the hyperinflations were accompanied by great increases in the money supply. If the government is in control of the money supply, it can print as much money as it needs to cover the expenses. It leads to fiscal chaos and social collapse, mistrust, despair and cynicism in society.

It is clear that high inflation rates over a period of time do not mean the inevitable or even the likely appearance of hyperinflation. Hyperinflation is extremely difficult to manage, however, it is possible, as Romania has proved. After the hyperinflation, the price system can be restored only by repudiation of the old monetary unit and its replacement by a new unit. This of course destroys the value of monetary savings and of all contracts specified in terms of the old monetary unit, but it is a necessary measure.

     

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Accounting Research Proposal

Research Proposal on Accounting

1. What is the company’s activity?

The Group has two main activities:

- Designing, manufacturing and selling yachts and powerboats through an international network of dealers, with this activity grouped under the “Boats” sector. The Group is the world market leader for sailboats and a pivotal player on the European powerboat market;

- Designing, manufacturing and selling mobile homes, with this activity grouped together under the “Mobile Homes” sector.

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2. How is the business doing ? Are sales increasing?

Bénéteau is doing very very well, as sales fo the group increased from 826,2 millions of euro in 2006 to 1013,7 millions in 2007.

3. What kind of investments does the company have?

Equity and loans

4. Did these investments increase during the last period?

Long term financial investments increased from  85 659 thsd. at the beginning of the period to 122095 thsd at the end. 

5. Are some assets under capital lease?

No.

6. What kind of inventories does the company have? Match with the activity.

Raw materials and other supplies, production work in progress, intermediate and finished products.

7. Among accounts receivable, identify “trade” receivable: are they important or quite low? What do you learn from this information regarding the clients?

Trade receivable increased from 2 108 thsd. at the beginning of the period to 3301 at the end. It means that clients are not paying in time and not all debts are collected yet. Though such payments are due in one year usually.

High amount will be BtoB, rather low BtoC activity

8. Identify in the accounts payable the amount of trade payable: What do you learn from this information concerning the relation with suppliers?

The amount of trade payables increased from 986 thsd. to 1599 thsd.

9. Does the company borrow money from banks (loans)? 

During the period the company borrowed 18 086 thsd. from credit institutions.

10. Did the company issue notes? (bonds) 

No.

11. Did the Board of directors organize post employment benefits?

The Group records provisions for retirement benefits in line with the usual measures applicable. This concerns a defined benefit system. The obligation is calculated by an independent actuary based on the projected credit unit method, with a discounting rate of 5%.

In line with the option available under IAS 19, the Bénéteau Group records any actuarial differences under shareholders’ equity. The impact of changing from a discount rate of 4% to a discount rate of 5% is included in the income statement, booked directly against shareholders’ equity.

12. How much is the paid-in capital? 

Share capital of the company is 8 715 thsd., additional paid-in capital is 27 750 thsd. 

13. How high are retained earnings? What does this item show?

Retained earnings increased from 1 364 thsd to 1 508 thsd. Shows that the company was profitable enough, refers to the portion of net income retained by the company and not distributeds among its owners as dividends.

14. Did they issue preferred stocks?

No.

15. Did they organize a buying back program? (treasury stock)

Treasury stock increased from (4 502) thsd. to 20 980 thsd.

16. Calculate the Gross Profit (gross margin) and compare with previous period

Gross profit in 2007 was 152 529 thsd., and in 2006 it was 99 379 thsd.

17. Can you find financial expenses or revenues? If yes, how can you explain them?

Cost of net financial debt in 2007 was 1 301 millions  (652 in 2006), other financial income and expenses amounted 1 457 millions(2 303 in 2006). Revenues come from investments or interest received while expenses will be interests paid on loans or notes

18. What is the amount of taxes for the period?

15 443 thsd. in 2007 and 12 899 thsd. in 2006.

19. Is the company posting profits these 2 last periods? Does profit increase or decrease in the same proportion as revenue ?

Operating profit increased from 104 021 thsd. in 2006 to 135 254 thsd. in 2007.

20. How is “earning per common share” calculated? Who is looking at this information?

Net earnings per share increased from 0.86 euros in 2006 to 1.13 euros in 2007. This information is valuable to investors.

21. Identify Shareholders’ Equity at the beginning of the period : is the balance at the end of the period higher or lower ? How do you explain the difference?

Shareholders’ Equity increased from 597 872 thsd. to 811 679 thsd. It means that financing of the company increased.

22. Does the company creates or uses cash during the period?

Company is generating cash as cash position at year start was 195 422 thsd. and at the year end 240 180 thsd.

23. Identify which step provides cash and which one needs cash.

The company is generating cash from operations, and utilizes it for operating activities and financial activities. The situation with cash is well managed.

24. Read the external auditors report. Who is it prepared for? Summarize in 3 lines its content.

The report was prepared by KPMG. It says that the audit was prepared in accordance with industry standards applicable in France. An audit includes examination, on a test basis, evidence supporting the amounts and information contained in accounts. An audit also involves assessing the accounting methods and principles used and the significant estimates made when drawing up the accounts, as well as evaluating the overall presentation of the financial statements. It also presumes that the audit company did not have any signs of insincerity form the side of the company regarding the presentation of the results.

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Research Proposal on Supermarkets

Whilst the four major supermarket chains (Tesco, Sainsbury's, Asda & Safeway) receive approximately 66% of the total market revenue in the UK, small grocery firms are still able to prosper. Identify what potential advantages these small firms are able utilise to enable their continuance.

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The big four supermarkets chains in the United Kingdom, dominate the food retail sector, yet many smaller, independent grocery firms still manage prosper under growing competition.

The main supermarkets have vastly grown over the last ten years using organic growth and few take-overs have occurred. The main take-over occurred in 1999 when Wal-Mart took over Asda. (Worthington and Britton, 2001, p226).

Wal-mart is well-established retailer in the United States, and is the worlds second biggest Multinational Corporation with an approximate Gross Domestic Product of $180 billion.

Small grocery firms have to operate very differently to the bigger supermarkets, due to their comparatively small power over the market.

Supermarkets can exploit economies of scale, therefore meaning that they can purchase their good at a cheaper cost per unit. Small grocers cannot do this as they are only selling goods on a comparatively smaller scale.

The smaller grocer could be considered to be a Sole Trader. The worrying statistic with sole traders is that 40% of all sole traders fail in the first 3 years (D. Orton, Lecture, 2001).

Smaller grocery firms have advantages over larger companies as they have the freedom to run their business as they want, without shareholder or stakeholder input, which might dictate which products they can sell and at which price. The big four supermarkets are Public Limited Companies (PLC's), which basically means that anyone can purchase shares in them, one condition of this PLC status is that the companies have to publish yearly reports. These yearly reports contain figures and accounts concerning profit or loss that maybe considered being highly confidential to a small grocery firm.

Smaller Grocery Firms can offer a more personal service to the customer. This is due to the fact that the smaller shop is not as busy as the supermarket, giving a greater ratio of customers to staff. This could even reach 1:1 in a smaller grocer but could reach 1:100 in a big supermarket.

In a smaller shop, the owner could record which products are bought on a regular basis by the same customers and set up a Just-in-time delivery system with his suppliers. This would avoid holding stock that would be hard for a small independent grocer with limited storage space. The four main supermarkets have tried to achieve this with loyalty cards, e.g. Tesco Clubcard, Safeway ABC, Sainsbury Loyalty Card. These reward systems have enabled the supermarkets to set up databases enabling them to know which products to stock and to noticed changing trends.

Smaller grocery firms can offer greater convenience than larger supermarkets due to them being closer to customers and not on a large, out of town developments like most supermarkets are.

Smaller grocers can specialise more into certain ranges of food products, offering a greater range of choice to the consumer than a bigger supermarket.

Profit Margins in the Food Retail Sector are frequently criticized and the four main supermarkets have been referred to the EU Competition Commission. This is due to the fact that the price of basic foodstuffs in the United Kingdom, compared to prices in the United States of America and the European Union, are up to 40% more expensive (Worthington and Britton, 2001, p226).

With these alleged high profit margins, the smaller grocer cannot be affected too much by price competition.

Therefore I conclude that small grocery firms have many advantages over the big four supermarkets, yet the big four have a much greater power over the market as a whole. I believe the main advantage is convenience to the customer, and that smaller grocers can offer a more personalized and friendly service.

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Research Paper on Politics and Economics

Abstract

The level of involvement is the result of many factors, among which is the countries vulnerability to world and European, in particular, economic and political pressures.  In Germany (federal corporatist country with agreement oriented representation political system) the government is capable to negotiate the reform.  In France and Britain (unitary countries with majoritarian representation political systems) the reforms are imposed. 

Introduction

These four counties are all democratic; however, they have a lot of differences as well as similarities in the political systems.

   

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France is a democratic republic with a system based on the written constitution approved by referendum in 1958.  The president is elected every five years by direct suffrage.  The president rules over cabinet, commands the armed forces and signs the international treaties. Also he directs foreign policy.  President appoints Prime Minister and is empowered to dissolve the National Assembly.  French political system is a hybrid of presidential and parliamentary elements. 

Question 1:

England, France, Germany and Russia have democratic political systems.  Compare and contrast the differences among them. Evaluate the system you think works best. Why?

These four counties are all democratic; however, they have a lot of differences as well as similarities in the political systems.

   

France is a democratic republic with a system based on the written constitution approved by referendum in 1958.  The president is elected every five years by direct suffrage.  The president rules over cabinet, commands the armed forces and signs the international treaties. Also he directs foreign policy.  President appoints Prime Minister and is empowered to dissolve the National Assembly.  French political system is a hybrid of presidential and parliamentary elements. 

   

National Assembly is elected by universal suffrage for five years, and Senators are elected for nine years with renewal every three years.  Currently the President Chirac closely coordinates policy objectives and legislative issues with Prime Minister Jean-Pierre Raffarin.  Prime Minister is in favour of regional empowerment and decentralization as well as free enterprise (elements of capitalistic systems). 

   

Raffarin’s reforms are highly democratic and are favourable for the business climate in France.  The taxation burden is lowered and businesses are allowed to return from 35 business week to 39-hour.  The pension schemes are over burdened however more democratic reforms are being currently developed.  Reforming of health insurance systems and union structures are next objectives to be settled.  The reforming style is consensual.  The French political system is the best example of the democracy in Europe.  The opinion of people it always counted as important, the election of government representatives is done through direct election, not appointing.  French government is truly the government for people and by people.

   

France has more than 12 political parties.  The most important are Communist and Socialist parties.  Parties with similar political views are encouraged to unite into alliances.  Germany’s political system, on the contrary to French was formed to keep the number of political at minimum level to prevent extremist groups from having a big impact on the life of the country. 

   

German parties are required to win a minimum of 5% of national vote and gain seats in a minimum of 3 electoral districts to receive a representation in the Bundestag.  Each voter can cast two (!) votes: one for individual politicians and second for the party.  Germany is a constitutional federal republic.  The basic law – Constitution – was laid in 1949.  The head of the government is Chancellor who is elected by the parliament. 

   

The Federal Assembly is elected every four years.  The Federal Council is the representation of 16 states.  The effective government is very hard in Germany because these two Assemblies block the each others decisions all the time.  The current President is Horst Köhler.  He serves as a head of state and has the same functions as French president. 

   

France and Germany are leading countries in the European Union. Germany is at the forefront of all European countries seeking to unify them to create stronger political, defense and security apparatus. In 2003 Germany together with France were upholders of the coalition of nations opposing the military invasion of Iraq by United States.  United Kingdom also supported them.

   

England, as a part of United Kingdom of Great Britain and Northern Ireland, has completely different political system.  All laws are made by parliament which consists of two houses: House of Commons and House of Lords (has almost no power).  Members of the Parliament are elected every five years by people.  Prime Minister is the leader of the majority party in the Parliament.  The Cabinet, real government is made up of the Prime Minister and the most important ministers. There are three major parties: Labor party (left), Conservative Party (right) and Social Democratic Liberal Alliance (middle).

   

Currently Tony Blair is the Prime Minister.  England has a symbolic head of the country: the Queen or King, but they have no political authority.  Thus England is a parliamentary democracy with a constitutional monarch, currently Queen Elizabeth II.  There are some complaints rising about the ability of non-English members to influence purely English affairs.  The current labor party favored the creation of regional administration but the referendum on this issue held on November 4, 2004 rejected the proposal.  It is believed that the establishment of regional administration will undermine the concept of English nationhood.

   

Russian Federation also has a democratic political system; however, it is still in the process of development.  The constitution of 1993 created a dual executive branch consisting of president and prime minister.  Unlike England, the president has more power than Prime Minister. Russia has strong presidency which is sometimes compared to Charles de Gaulle in the French Fifth Republic.  The president is elected for five years term and determines the basic direction of Russian domestic and foreign policy and also represents the country in the foreign affairs.

   

The parliament consists of two chambers: The council of eh Federation (formed without election in 1996 for unlimited period) and State Duma (elected for four years).  The federal Parliament consists of numerous parties: Communist party, Unity party, Liberal Democratic Party and many others.  The law requires that at least 50% of the eligible voters to participate in election process in order for a presidential election to be valid.  The current president Vladimir Putin, serving for the second term, has many plans to make Russia more democratic not only in political structure but also in economic sphere (to reduce corruption and increase liberalization).

Question 2:

Many observers praise capitalism as an economic system. What features does this system have? How capitalist are the countries of England, Germany, France and Russia? Which country do you think runs most efficiently? Why?

Capitalism is an economic system based on the private ownership of the production facilities. The private profit can be acquired with investment of capital and employment of workforce. Capitalism is based on the concept of unrestricted enterprise.  It argues that the government involvement into economy should be minimal.  The free market which depends only on changes in demand and supply will increase the prosperity of the people. 

   

The fundamental principle of capitalism is freedom of individual enterprise.  However, the government actions sometimes are required to check the abuses.  In addition, capitalism does not presume any specific form of social or political system.  Private production plays the key role in the economy of many countries. For this reason, the idea of letting the market entirely determine the economy is rejected by many. 

   

In Europe there are three capitalistic systems left: market capitalism of England, managed capitalism of Germany and state capitalism of France.  Russian Federation also has its own unique capitalistic system.  French capitalism belongs neither to market capitalism nor to managed capitalism.  It was obtained through market-oriented reforms and is a hybrid of two forms. 

   

In the mid of 1970s France began reforms just after England, but Germany started reforming even later.  Russia is the last country with capitalistic economy to start reforming.  In France the role of government transferred from leadership to an enhancing role.  The government is still involves into economy (indirectly to improve the working environment) than German or British. 

   

The level of involvement is the result of many factors, among which is the countries vulnerability to world and European, in particular, economic and political pressures.  In Germany (federal corporatist country with agreement oriented representation political system) the government is capable to negotiate the reform.  In France and Britain (unitary countries with majoritarian representation political systems) the reforms are imposed. 

   

In England the model of market capitalism developed early after the war.  England is characterised with high economic vulnerability in combination with huge political capacity to set reforms.  The key was to generate enough political evidence of the appropriateness of the reforms, not just their necessity.  The modern market of England is the result of early reforms by Thatcher’s government.  Starting with the liberalization of the financial market in 1986, she continued with privatization and huge sell off of monopolistic public enterprises.  Business was deregulated:  voluntary self-governing arrangements were replaced by independent agencies. 

   

The labor market of England is radically decentralized through deregulatory policies which reduce the unions’ powers for strike and organization but increase the workers ability to hire and fire at will.  The Britain was always very liberal and the capitalistic economy reforms made it even more liberal.  The government acts as an agency for market protection and provides basic legislation to help to locate decision – making powers in enterprises and to limit the authority of organized unions.

   

In Germany the model of managed capitalism started to appear in 1990s and was a result of unification and increasing pressure from international markets.  Reforms began even later when the government decided that enabling the state could bring greater economic competitiveness.  In Germany the regulatory institutions are vested into private companies and employee associations.  Unlike England, the reform process is very slow because federal government has to negotiate reforming plans with labor, business and regional governmental institutions. 

  

The key achievements of capitalism in Germany are liberalization of financial markets (in 1995), privatisation of the small amount of public enterprises in mid of 1990s, and the deregulation of public and infrastructural services (telecom and electricity).  However, some of the problems are not solved so far.  The government lacks the political capacity to negotiate the reforms of labor markets and pension systems.  The union system is very strong in Germany and stymies the government’s ability to reframe the terms of social market economy. 

   

In France reforms started as early as in England.  The way for reforming was different from other countries.  The Mitterrand government has chosen a massive program of nationalization and restructuring.  Early in 1980s the state was retreated from leadership of business and the control of labor relations.  The government continues to intervene strategically to protect the business and labour from the worst effects of the market.

   

In Russia the reforms started in several phases: early in 1920s, 1980s and in 1990s.  The directions taken were different; however, the reliance on support from state was vital for many companies.  Today there are still three monopolistic structures in the country:  Gas Production (governmental share is 51%), Savings bank (contains 60% of all deposits of the country of more than 90% of the voters) and United Systems.  Putin, the current president of the Russian Federation who is serving for the second term, has plans to change the situation.  The Gas production companies (the total country revenue is highly dependant on oil and gas industry) will allow more foreign investment (currently only about 5%).

   

The English capitalism, market capitalism, has proved to be the most effective.  The government does not intervene a lot into the economy and market of the country giving more freedom to entrepreneurs and employees to change their works.  The high economic indexes are the indicators that economic system does work. Germany is still struggling to make unions less powerful, while Russian is still on the stage of making first steps towards capitalistic development.  The French is more capitalistic then Germany and Russia but less capitalistic then England.  English economical and political superiority makes it a key player on the European market.

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Research Paper on Urban Issues

Secondary effects of urban automobiles transportation

There are three ways to move from one place to another in a city: private transport (cars and motorcycles), active transport (e.g., walking and cycling) and public transport (e.g., buses and trains). Private transport puts a burden on the urban community; it requires roads infrastructure, which takes land and disrupts pedestrians, it consumes additional land for parking (although by that it creates income to the community) and creates environmental externalities such as air pollution and noise. The overdependence of urban and suburban communities on automobiles has created several hazards. Our discussion here will focus on the environmental injustice it creates and negative impact on active living, both can be offset by promoting active and public transport.

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A work by Patz et al (2007) which focused on transportation policies’ effect on climate change and global health depicts a gloomy picture of urban transport. Following years of unrestrained urban planning, Western society has chosen the automobile as the main mean of transportation. The environmental price of this trend is massive; in the US, where 40% of the trips are shorter than 2 miles, the average carbon emission per inhabitant is six times the global average. Canada, Japan and Western Europe are not far behind. Some of these gases are immediately inhaled by the population and the rest is emitted to the atmosphere, helping to create global environmental crises such as the greenhouse effect. Thus, not only those urban communities suffer from this phenomenon, but also other populations of the nation and worldwide.

This ethical question must not be neglected. Investment in active and public transportation should be in city planners’ top priority these days. These alternative menas of transportation have additional positive effect on public health, which is much more tangible and immediate at the personal level.

In this context it is interesting to review the findings of Besser and Dannenberg (2005), who studied the health implications of using public transport. Their main concern was walking, an essential feature of one’s active lifestyle, which has a key role in minimizing epidemics such as obesity and health diseases. According to the writers, users of public transport spend a median of 19 minutes walking a day. This figure accounts for nearly two-thirds of the Surgeon General recommendations of 30 minutes’ walk time a day.

Moreover, 29% of participants have reached at least 30 minutes a day merely by using public transportation. It is thus clear that public transportation provides an excellent opportunity for improving one’s health even without additional physical workout. This opportunity should be promoted in particular among urban low-income communities which has a general tendency of less healthier lifestyle.

The results of these two studies indicate clearly that public spending on active and public transportation, in particular within a city and between urban and suburban areas, are sound investments which yield good environmental and health returns as well as other positive implications.

Myths and fact regarding the secondary effects of adult entertainment (“strip”) clubs on an urban community

The issue of strip clubs is given to debate in fields such as constitution, moral and social norms. Many municipalities who “host” these clubs often issue restrictions on the operation of such businesses; these are mainly zoning ordinances that aim to keep such clubs away from housing areas and public institutions, or even to deport them to suburban areas.

As the legitimacy of strip clubs is anchored in the First Amendment, such zoning restrictions are justified by the claim that the existence of such club in a neighbourhood has negative secondary effects on the community, mainly crime and devaluation of properties.

In his fascinating legal review, Case (2006) describes the history of legal debates on the ability of municipalities to legislate and enforce restrictions on the location and activity of strip clubs. Two main issues are in the heart of the discussion. The first question is whether the opposition of municipals are content-based (i.e., they try to prevent the activity itself, which is an unconstitutional deed) or that the motive is concerned with pure public interests, which must be quantifiable in terms of Dollar values, crime rates etc. Another issue is the extent to which such concerns, if they are proved, can overshadow the legitimate interest of those businesses and their customers.

The author has several conclusions from past court decisions on the matter. First, it is clear that the issue is quite problematic and that the First Amendment’s protection is rather indirect. Second, it appears that throughout time courts became more critical regarding municipals’ zoning laws, mainly since their claims were not backed up with hard evidence. However, both courts and municipalities were engaged in efforts to regulate not only the location of the clubs but also their activities, although with very little success.

The author has a generally positive approach towards zoning; from his point of view, this should be the solution for one’s worries about secondary effects in his neighbourhood.

On the other hand, Land et al (2004) are much more critical on the zoning issue. Examining court debates they concluded those municipalities’ proofs for secondary effects (as a basis for proving that their actions are not content-based) were based on studies with very weak methodological validity. Furthermore, by examining crime rates in Charlotte, North Carolina, they show the exact opposite, namely that crime rates around strip clubs were actually lower than control areas. For example, crime rates around McDonald’s restaurants were much higher.  

Strip clubs is a social and moral problem in a city. It is perfectly legitimate to fight them on the civilian level or simply not to visit them. It is important to remember, however, that the stigma of strip clubs as magnet for criminal activity is not necessarily true and that those businesses deserve protection just as any other entity in the city.  

Cohesion in urban and suburban areas

Newly developed suburban districts and old urban residential districts have always been in question and caused numerous academic debates on neighborhood and social cohesion both in the United States and Europe. Most of the researches seem to agree that people living in suburban areas tend to develop much closer ties with each other, compared to the urban population, who quite often do not even know the name of the neighbors living next door. Below views of American and European researches are presented.

Logan at al. (1996) discuss what accounts for the differences in the kinds of communities within the metropolis in which members of different racial and ethnic groups live there. According to the authors, more racially homogeneous communities exist in the suburban areas then in the big cities, where the population is more racially-mixed. These racial differences partially explain the social cohesion and territorial ties in the suburban settlements. Suburban residents more often share common moral values, ethnical traditions and religious beliefs family life styles. The authors also claim, based on the empirical studies, that suburban residents, have more equal income, while in the urban arias, the population is more mixed racially and in the relation to income.

The “Community Lost” problem worries researches in Europe as well – Lupi and Musterd (2006) address the social significance of the local both urban and suburban communities and explain the existing differences between urban and suburban ways of life from a Dutch point of view. The authors address the issue of “culturalisation” of housing and the construction of residential spheres, socially established, controlled and protected by their inhabitants. These spheres are the potential basis for new forms of local social cohesion. The authors use works of other scholars to support their claims. For example, Blakely and Snyder describe, that gated communities appeal to the ideal of the “Community” and most inhabitants living in controlled areas present their neighborhood as such to the outside world and perceive it in the same way. According to Baumgartner, the common hypersensitivity, protectiveness and anti-violent attitude of suburban inhabitants lead to order and unity. Modern suburban life represents the example of the collective organization of individual living space.

In small towns and suburban areas, people participate more often in associations and organizations and have many social contacts within their neighborhoods – as a result it is much easier for an individual to be identified with the local community. On the other hand, identification with the city is not so strong; this is due mainly to the preoccupation of people with their personal residential issues. On the local level a person feels ties with a community and responsibility to the place. Social ties in the urban neighborhood are mainly of the weak, bridging kind. Mainly residents in lower class, ethnically homogeneous areas have more bonds with each other.

The American and European scholars took different approaches to the same issue an even though the first approach focuses more on the racial and income issues and the latest deals mainly with the perception of the residential area by the inhabitants and feeling of protection – both claims seem to be valid and in no way contradict with each other since the community cohesion can be explained only by combination of social and psychological approaches.

The influence of outdoor tobacco advertisement

Media and advertisement are creating a new kind of men and a new kind of cities – the colorful metropolitan areas overburdened with advertisement, posters and billboards of all kinds. Lately researches more often discuss negative effects of the media on urban population. Here of the aspects of media influence will be presented – tobacco advertisement.

Luke, Esmundo and Bloom (2000) analyze the locations and characteristics of tobacco billboards in urban areas and discuss the extent to which tobacco companies are locating billboards closely to poor minority neighborhoods and schools. An observation was conducted in St Louis, Missouri in 1998 and total of 1239 billboards were observed. As a result of the observation, was found that nearly 20 percent of all existing billboards advertised tobacco. Four out of top five most often advertised brands (and nine out of the top 22) showed tobacco products. Interesting also are the location finings – billboards were found in all districts of St. Louis except for the areas with the highest average income. Most of the tobacco billboards were located in the communities with low average income and communities inhibited mostly by African Americans. Exactly in these areas largely populated by African Americans, tobacco billboards displayed images of African Americans. And the last alarming fining of the research was that nearly 74 percent of all billboards in St. Louis were located within 2000 feet of public schools.

Not surprisingly, cigarettes were the most often advertised products on billboards of the city and their geographic allocation confirms that tobacco companies target poor communities, minorities and school students.

The research held in St. Louis is only one of the many held in various cities of the United States, Europe, and Canada. People with lower income smoke more than people with higher income. To find the reasons of this inequality, National Cancer Institute held several studies of targeted tobacco marketing.

The observation of outdoor advertisement was done in Boston during 2000-2002. The results of the observation were quite similar to the research held in St. Louis. The number of tobacco advertisement in low-income areas was much higher then the number of the same outdoor advertisement in high-income communities. In the areas with low average income more then three times more tobacco advertisement were located then youth access signs. Tobacco advertisement significantly outnumbered smoke-free signs in every community.

The results of the studies in Boston and in St. Louis show that tobacco companies actively target low-income communities and young people. This advertisement mechanism needs to be monitored closely in every urban community and the ways to prevent targeting high-risk population should be found.

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Ulysses S. Grant Research Paper

Research Paper on Ulysses S. Grant

Ulysses S. Grant, born on April 27, 1822 was an American general and the eighteenth President of the United States. His presidency lasted for eight years from the year 1869 till the year 1877. Ulysses Grant was loved by the people and achieved his great fame and acceptance as the brave general who lead the Union during the years of the American Civil War. Grant was also known for leading radical reconstruction in the country and even succeeded in maintaining a strong and powerful Republican party in the democratic South (American Presidents). In my short paper, however, I will not present the biography of this famous president. I would like to describe the photo of Ulysses Grant taken in 1885.

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In fact, this photo that was taken of him in July 1885 at Mount McGregor was the last one, because on July 23rd, Grant passed away. When looking at the photo we see an elderly man, holding some paperwork in his hands. The man looks aged and weary, however, Grant was only sixty-three years old at the time. It can also be seen at the picture that Grant is struggling with some kind of sickness as well it is obvious that he is driven by some idea that he had been ruminating about for a long time.

The description of the picture I have just presented was the first-glance impression. Indeed, having complete a research about Ulysses Grant I found explanations to why the photographer found him in that state on July 13th, 1885. Lower I would like to describe you the life of Ulysses Grant peculiarly in the year 1885 as well as couple of years before.

After serving his second and last term as the President of the United States, Grant and his wife made a journey around the world. Upon return to America Grants purchased a house in New York City. It is important to say that at that point Ulysses Gran located almost all of his financial assets into a partnership with Ferdinand Ward. Ward was suggested to Grant by Grant's son Buck, who was successful on Wall Street. In 1884 the disaster came - his son’s partner lost all the company’s money and fled from the country. The company was declared bankrupt and the former President and general was broke (American Presidents).

Today the politicians receive gigantic sums of money when serving and after completion of the service in the White House. In 1880s the situation was totally different. At the time retired U.S. Presidents were not provided with perpetual pensions, thus Grant and his family literally had no money for existence.  The family had to gradually sell off their possessions, including even White Haven, and other properties (Goldhurst, p. 23). However, the money received could not cover the debts that had to be paid. Grant had to transfer various household and personal items, among them all the awards for his Civil War accomplishments, into cash. Of course, such state of thing brought Ulysses Grant to a severe depression. His greatest concern was that he had no inheritance for his family (Goldhurst).

It was just about that time when Grant learned that he was suffering from throat cancer. He had been a smoker his whole life and at that time the smoking had caught up with him. Such discovery could disarm anyone, however Ulysses Grant pulled himself together, surmounting great pain, and put all of his efforts into finding a way to earn the living for his family. For this purpose Grant accepted an offer from Century Magazine to write articles about his experiences in the Civil War. To his surprise he saw that he enjoyed writing and chose it to be the source of income for him. His plan was to write memoirs (Goldhurst).

The task of writing consumed Grant completely because he knew that he would not last for a long time and he was eager to finish the memoirs and receive the revenues as soon as possible. He hoped his memoirs could provide for his family for the long years to come. According to John Simon, who has written Grant’s biography, Grant’s memoirs were honest. He was not ashamed to admit his mistakes, his purpose was not to show himself off, but to rather analyze the past (Simon). He was fully involved in the writing process, however, the fetal illness did not retreat.

As the time passed by, Grant lost his voice, as well as his hands started to shake. According to John Simon, as Grant had lost his voice because of the cancer and could not dictate the text anymore, he would on his porch with pencil and paper, covered with blankets and “in fearsome pain, slowly scrawling out his life’s epic tale” (Simon). The picture that we see in front of us, has, probably, captured, one of these moments of struggle and anguish.

In spite of his destructing and excruciating illness Grant managed to finish the memoirs. In fact, he finished them just a few days before his death. Grant had not been alive to find this out, but his book had earned Grant family almost half a million dollars, in fact, around 300,000 copies of the book were sold. Now, taking a look at the picture again, it becomes clear to us, why Ulysses Grant looks so distant, tired and weary. Now, we understand that the man in the photo, taken in 1885, is dying of a fatal illness, which, however, did not stop him from fluffing his dreams (Goldhurst).

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