Role of the Industrial Development Bank of India (IDBI)

Role of the Industrial Development Bank of India (IDBI) The Banking Industry was once a simple and reliable business that took deposits from investors at a lower interest rate and loaned it out to borrowers at a higher rate. However deregulation and technology led to a revolution in the Banking Industry that saw it transformed. Banks have become global industrial powerhouses that have created ever more complex products that use risk and securitisation in models that only PhD students can understand. Through technology development, banking services have become available 24 hours a day, 365 days a week, through ATMs, at online bankings, and in electronically enabled exchanges where everything from stocks to currency futures contracts can be traded. Indian banking industry The growth in the Indian Banking Industry has been more qualitative than quantitative and it is expected to remain the same in the coming years. Based on the projections made in the India Vision 2020 prepared by the Planning Commission and the Draft 10th Plan, the report forecasts that the pace of expansion in the balance-sheets of banks is likely to decelerate. The total assets of all scheduled commercial banks by end-March 2010 is estimated at Rs 40,90,000 crores. That will comprise about 65 per cent of GDP at current market prices as compared to 67 per cent in 2002-03. Bank assets are expected to grow at an annual composite rate of 13.4 per cent during the rest of the decade as against the growth rate of 16.7 per cent that existed between 1994-95 and 2002-03. It is expected that there will be large additions to the capital base and reserves on the liability side. The Indian Banking Industry can be categorized into non-scheduled banks and scheduled banks. Scheduled banks constitute of commercial banks and co-operative banks. There are about 67,000 branches of Scheduled banks spread across India. As far as the present scenario is concerned the Banking Industry in India is going through a transitional phase. The Public Sector Banks(PSBs), which are the base of the Banking sector in India account for more than 78 per cent of the total banking industry assets. Unfortunately they are burdened with excessive Non Performing assets (NPAs), massive manpower and lack of modern technology. On the other hand the Private Sector Banks are making tremendous progress. They are leaders in Internet banking, mobile banking, phone banking, ATMs. As far as foreign banks are concerned they are likely to succeed in the Indian Banking Industry. In the Indian Banking Industry some of the Private Sector Banks operating are IDBI Bank, ING Vyasa Bank, SBI Commercial and International Bank Ltd, Bank of Rajasthan Ltd. and banks from the Public Sector include Punjab National bank, Vijaya Bank, UCO Bank, Oriental Bank, Allahabad Bank among others. ANZ Grindlays Bank, ABN-AMRO Bank, American Express Bank Ltd, Citibank are some of the foreign banks operating in the Indian Banking Industry. Industrial Development Bank of India (IDBI) The Industrial Development Bank of India (IDBI) was established on July 1, 1964 under an Act of Parliament as a wholly owned subsidiary of the Reserve Bank of India. In 16 February 1976, the ownership of IDBI was transferred to the Government of India and it was made the principal financial institution for coordinating the activities of institutions engaged in financing, promoting and developing industry in the country. Although Government shareholding in the Bank came down below 100% following IDBIs public issue in July 1995, the former continues to be the major shareholder (current shareholding: 52.3%). During the four decades of its existence, IDBI has been instrumental not only in establishing a well-developed, diversified and efficient industrial and institutional structure but also adding a qualitative dimension to the process of industrial development in the country. IDBI has played a pioneering role in fulfilling its mission of promoting industrial growth through financing of medium and long-term projects, in consonance with national plans and priorities. Over the years, IDBI has enlarged its basket of products and services, covering almost the entire spectrum of industrial activities, including manufacturing and services. IDBI provides financial assistance, both in rupee and foreign currencies, for green-field projects as also for expansion, modernisation and diversification purposes. In the wake of financial sector reforms unveiled by the government since 1992, IDBI evolved an array of fund and fee-based services with a view to providing an integrated solution to meet the entire demand of financial and corporate advisory requirements of its clients. IDBI also provides indirect financial assistance by way of refinancing of loans extended by State-level financial institutions and banks and by way of rediscounting of bills of exchange arising out of sale of indigenous machinery on deferred payment terms. IDBI has played a pioneering role, particularly in the pre-reform era (1964-91),in catalyzing broad based industrial development in the country in keeping with its Government-ordained development banking charter. In pursuance of this mandate, IDBIs activities transcended the confines of pure long-term lending to industry and encompassed, among others, balanced industrial growth through development of backward areas, modernisation of specific industries, employment generation, entrepreneurship development along with support services for creating a deep and vibrant domestic capital market, including development of apposite institutional framework. Narasimam committee recommends that IDBI should give up its direct financing functions and concentrate only in promotional and refinancing role. But this recommendation was rejected by the government. Latter RBI constituted a committee under the chairmanship of S.H.Khan to examine the concept of development financing in the changed global challenges. This committee is the first to recommend the concept of universal banking. The committee wanted to the development financial institution to diversify its activity. It recommended to harmonise the role of development financing and banking activities by getting away from the conventional distinction between commercial banking and developmental banking. In September 2003, IDBI diversified its business domain further by acquiring the entire shareholding of Tata Finance Limited in Tata Home finance Ltd., signaling IDBIs foray into the retail finance sector. The fully-owned housing finance subsidiary has since been renamed IDBI Home finance Limited. In view of the signal changes in the operating environment, following initiation of reforms since the early nineties, Government of India has decided to transform IDBI into a commercial bank without eschewing its secular development finance obligations. The migration to the new business model of commercial banking, with its gateway to low-cost current, savings bank deposits, would help overcome most of the limitations of the current business model of development finance while simultaneously enabling it to diversify its client/ asset base. Towards this end, the IDB (Transfer of Undertaking and Repeal) Act 2003 was passed by Parliament in December 2003. The Act provides for repeal of IDBI Act , corporatisation of IDBI (with majority Government holding; current share: 58.47%) and transformation into a commercial bank. The provisions of the Act have come into force from July 2, 2004 in terms of a Government Notification to this effect. The Notification facilitated formation, incorporation and registration of Industrial Development Bank of India Ltd. as a company under the Companies Act, 1956 and a deemed Banking Company under the Banking Regulation Act 1949 and helped in obtaining requisite regulatory and statutory clearances, including those from RBI. IDBI would commence banking business in accordance with the provisions of the new Act in addition to the business being transacted under IDBI Act, 1964 from October 1, 2004, the Appointed Date notified by the Central Government. IDBI has firmed up the infrastructure, technology platform and reorientation of its human capital to achieve a smooth transition. IDBI Bank, with which the parent IDBI was merged, was a vibrant new generation Bank. The Pvt Bank was the fastest growing banking company in India. The bank was pioneer in adapting to policy of first mover in tier 2 cities. The Bank also had the least NPA and the highest productivity per employee in the banking industry. On July 29, 2004, the Board of Directors of IDBI and IDBI Bank accorded in principle approval to the merger of IDBI Bank with the Industrial Development Bank of India Ltd. to be formed incorporated under the Companies Act, 1956 pursuant to the IDB (Transfer of Undertaking and Repeal) Act, 2003 (53 of 2003), subject to the approval of shareholders and other regulatory and statutory approvals. A mutually gainful proposition with positive implications for all stakeholders and clients, the merger process is expected to be completed during the current financial year ending March 31, 2005. IDBI would continue to provide the extant products and services as part of its development finance role even after its conversion into a banking company. In addition, the new entity would also provide an array of wholesale and retail banking products, designed to suit the specific needs cash flow requirements of corporates and individuals. In particular, IDBI would leverage the strong corporate relationships built up over the years to offer customised and total financial solutions for all corporate business needs, single-window appraisal for term loans and working capital finance, strategic advisory and hand-holding support at the implementation phase of projects, among others. IDBIs transformation into a commercial bank would provide a gateway to low-cost deposits like Current and Savings Bank Deposits. This would have a positive impact on the Banks overall cost of funds and facilitate lending at more competitive rates to its clients. The new entity would offer various retail products, leveraging upon its existing relationship with retail investors under its existing Suvidha Flexi-bond schemes. In the emerging scenario, the new IDBI hopes to realize its mission of positioning itself as a one stop super-shop and most preferred brand for providing total financial and banking solutions to corporates and individuals, capitalising on its intimate knowledge of the Indian industry and client requirements and large retail base on the liability side. Recent developments To meet emerging challenges and to keep up with reforms in financial sector, IDBI has taken steps to reshape its role from a development finance institution to a commercial institution. With the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003, IDBI attained the status of a limited company viz. Industrial Development Bank of India Limited (IDBIL). Subsequently, the Central Government notified October 1, 2004 as the Appointed Date and RBI issued the requisite notification on September 30, 2004 incorporating IDBI Ltd. as a scheduled bank under the RBI Act, 1934. Consequently, IDBI, the erstwhile Development Financial Institution of the country, formally entered the portals of banking business as IDBIL from October 1, 2004, over and above the business currently being transacted. Acquisition of United Western Bank In 2006, IDBI Bank acquired United Western Bank in a rescue. Annasaheb Chirmule, who worked for the cause of Swadeshi movement, founded Satara Swadeshi Commercial Bank in 1907, and some three decades later founded United Western Bank. The bank was incorporated in 1936, and commenced operations the next year, with its head office in Satara, in Maharashtra State. It became a Scheduled Bank in 1951. In 1956 it merged with Union Bank of Kolhapur, and in 1961 with Satara Swadeshi Commercial Bank. At the time of the merger with IDBI, United Western had some 230 branches spread over 47 districts in 9 states, controlled by five Zonal Offices at Mumbai, Pune, Kolhapur, Jalgaon and Nagpur. Main function of IDBI IDBI is vested with the responsibility of co-ordinating the working of institutions engaged in financing, promoting and developing industries. It has evolved an appropriate mechanism for this purpose. IDBI also undertakes/supports wide-ranging promotional activities including entrepreneurship development programmes for new entrepreneurs, provision of consultancy services for small and medium enterprises, upgradation of technology and programmes for economic upliftment of the underprivileged. IDBI role as catalyst IDBIs role as a catalyst to industrial development encompasses a wide spectrum of activities. IDBI can finance all types of industrial concerns covered under the provisions of the IDBI Act. With over three decades of service to the Indian industry, IDBI has grown substantially in terms of size of operations and portfolio. Development activities of IDBI and promotionl activities In fulfilment of its developmental role, the Bank continues to perform a wide range of promotional activities relating to developmental programmes for new entrepreneurs, consultancy services for small and medium enterprises and programmes designed for accredited voluntary agencies for the economic upliftment of the underprivileged. These include entrepreneurship development, self-employment and wage employment in the industrial sector for the weaker sections of society through voluntary agencies, support to Science and Technology Entrepreneurs Parks, Energy Conservation, Common Quality Testing Centres for small industries. Evolution Changing Role The genesis of Industrial Development Bank of India Limited (IDBI Ltd.) can be traced to the establishment of The Industrial Development Bank of India (IDBI), its predecessor entity, in 1964, by an Act of Parliament to provide credit and other facilities for the development of industry. IDBIs charter was later broad-based to also encompass the responsibilities of principal financial institution for co-ordinating the working of National and State-level institutions engaged in financing, promoting and developing industry. Initially set up as a fully-owned subsidiary of the Reserve Bank of India (RBI), the ownership of IDBI was later transferred to the Government of India in 1976. Although Government shareholding in the Bank came down below 100% following IDBIs public issue in July 1995, the former continues to be the major shareholder(currentshareholding:51.4%). Cumulative assistance sanctioned and disbursed by IDBI since inception up to end-September 2004 aggregated around Rs.2,23,000 crore and Rs 1,78,000 crore respectively. IDBIs asset base stood in the vicinity of Rs. 63,850 crore at end-September2004. As a considered response to changes in its operating environment following initiation of reforms since the early nineties and the resultant concerns of IDBIs sustained viability therein in its current avatar, IDBI, in consultation with the Government of India, decided to transform into a commercial bank without eschewing its secular development finance obligations. The migration to the new business model of commercial banking, with its gateway to low-cost current/savings bank deposits, it was felt, would help overcome most of the limitations of the current business model of development finance while simultaneously enabling it to diversify its client/asset base. Towards this end, the IDBI (Transfer of Undertaking and Repeal) Act 2003 was passed by Parliament on December 16, 2003 and received the Presidents assent on December 30, 2003. The provisions of the Act came into force from July 2, 2004 in terms of a Government Notification to this effect. The Notification enabled IDBI to obtain the requisite statutory and regulatory approvals, including those from RBI, for conversion into a banking company. The new company viz. Industrial Development Bank of India Limited (IDBIL) was incorporated on September 27, 2004 and the Registrar of Companies, Mumbai, issued the certificate for commencement of business to IDBI Ltd. on September 28, 2004. Subsequently, the Central Government notified October 1, 2004 as the Appointed Date and RBI issued the requisite notification on September 30, 2004 incorporating IDBI Ltd. as a scheduled bank under the RBI Act, 1934. Consequently, IDBI, the erstwhile Development Financial Institution of the country, formally en tered the portals of banking business as IDBIL from October 1, 2004, over and above the business currently being transacted. IDBI Ltd. is registered as a company under the Companies Act, 1956 to carry out banking business in accordance with the provisions of the Banking Regulation Act, 1949. The IDBI Repeal Act, 2003 enabled IDBI to become a banking company without the need to obtain a separate banking licence under the Banking Regulation Act, 1949. IDBI Ltd. will enjoy certain regulatory forbearance, including exemption from compliance with SLR requirements (mandated under the Banking Regulation Act) for the first five years. All existing shareholders of the erstwhile IDBI, including the Central Government, have become pro-rata shareholders of IDBI Ltd. from the appointed date. Further, the provisions of the Memorandum and Articles of Association of IDBI Ltd. require that the Central Government, as a shareholder of the Company, shall, at all times, maintain not less than 51% of the issued capital of the company. The authorized capital of IDBI Ltd, has been reduced to Rs.1250 crore from Rs.1500 crore (the authorized capital of erstwhile IDBI) in conformity with the provision of the Banking Regulation Act. The paid-up capital of the Company, at Rs.653 crore, however, remains the same as the paid-up capital of the erstwhile IDBI Role of Financial Institutions in Foreign Investment in India The main role of the financial institutions in India in respect to foreign investments is to aid foreign investors in investment activities in India. The funds from overseas countries come in two forms: Foreign direct Investments and Joint Ventures of the foreign companies with Indian companies. Foreign direct investments inflows are approved through automatic route or through government route. Those units that require government approval to get funds require the FIPB approval. Foreign Direct Investment through automatic route, on the other hand, does not require FIPB approval. All these allocation of financial assistance to various industrial units in India are guided by the financial institutions set up in various parts of India. Some of the leading financial institutions in India that play an important role in foreign investments in India are RBI, IDBI Bank, IFCI Bank, ICICI Limited and EXIM Bank. Role of IDBI in Foreign Investment The role of IDBI in Foreign Investment is mainly to provide financial assistance on a consortium basis to various industrial units in India which are mainly involved in manufacturing or processing of goods, mining, transport generation and distribution of power. Main Functions of IDBI IDBI coordinates between various financial institutions who are highly involved in provide financial assistance, promoting, and developing various industrial units IDBI is also engaged in a variety of promotional activities such as development programs for the fresh entrepreneurs, planning of consultancy services for both the small scale enterprises and the medium sized industrial units IDBI works for the advancement of technology and other welfare schemes to ensure economic development. Industrial Development Bank of India acts as a catalyst in various industrial development programs IDBI provides financial assistance to all kinds of industrial units which comes under the provisions of the IDBI Act IDBI has served various industrial sectors in India for about three years and has grown leaps and bounds in its size and operating units Role of IDBI in Foreign Investment It manages various financial institutions working under IDBI bank Provides financial assistance to various industrial units in terms of developments It also offers refinancing options including term loans to the suitable financial institutions It provides funding to the industrial units that are involved in manufacture or processing of goods, mining, transport generation and distribution of power both in private and public sectors It also provides finance to various projects, expansion of any project, diversifications, or even developing the projects which will exceed Rs. 30 million and it also provides funding to those projects which cost less than Rs. 30 million through indirect means as it offers refinancing to the main financial institutions such as SFC/SIDC/Commercial Banks Articles IDBI Bank July-Sep net up 57 pct, beats fcast State-owned IDBI Ltd on Monday posted a 57 percent rise in July-September net profit, helped by growth in both the net interest income and fee-based income, beating analyst forecasts. Net profit of the bank for the second quarter was at 2.54 billion rupees, up from 1.62 billion rupees a year ago. A Reuters poll of brokerages had estimated profits at 1.95 billion rupees. Profitability grew on the back of good growth in the net interest income and fee-based income front, Yogesh Agarwal, chairman and managing director, told reporters at a press conference. The banks net interest income rose to 4.72 billion rupees, up from 1.29 billion rupees a year ago, while fee-based income rose 99 percent to 3.90 billion rupees. Its net interest margin rose to 1.07 percent, up from 0.41 percent a year ago with cost of deposits coming down as high cost deposits were getting retired, Agarwal said. Core income helped profits grow for the bank, said an analyst in a Mumbai-based brokerage, on condition of anonymity. The bank, with a capital adequacy ratio of 11.9 percent, is waiting for government approval to raise funds for growth. Government owns around 52 percent in the bank and it will have to take a call on modes of capital-raising to be made available to the bank, he said. We hope to tap the (capital) market by January 2010, subject to government deciding on mode of capital raising to be adopted by the bank, he said. Its capital adequacy at tier I level was at 6.83 percent, while that in the tier II segment was at 5.07 percent. The bank will also raise $225 million via syndicated loans to meet its growth targets, R.K. Bansal, chief financial officer, said adding the bank is targeting a loan growth of 20 percent in the current fiscal. We will be signing for this foreign currency loan tomorrow, he said. The loan will be for a one-year tenure with an all-inclusive cost of 6.2 percent. The bank which would open its first foreign branch in Dubai has an enabling resolution to raise up to $1.5 billion via medium term notes in foreign currency, Bansal said adding it can be raised only after the lender has a foreign presence as per Reserve Bank of India guidelines.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The cash strapped Industrial Development Bank of India (IDBI), has got a line of credit of $100 million from the Asian Development Bank (ADB). The institution has also reached the final stages of an arrangement with KfW of Germany for co-financing of infrastructure projects along with the line of credit (LoC)from ADB. This comes as a great help to the FI at a time when it is starved of funds. The funds will be lent against private infrastructure projects in four states namely Karnataka, Andhra Pradesh, Gujarat and Madhya Pradesh. In fact, IDBI is not the only institution to have got it. IIL FS too has got a $100 million LoC from ADB.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The duration of loan from ADB will be 20 years on a floating rate basis. It will be lent at LIBOR plus 60 basis point. The boards of ADB and both the FIs have cleared the loan proposal and the signing of the documents will take place in the next 10 to 15 days. The KfW deal is being negotiated and is likely to be taken up at the latest Indo-German meeting. KfW is a development bank for developing countries that operate on behalf of the German Government. The rates in the case of KfW are likely to be very close to the rates offered by ADB. But in the case of KfW, the tenure of the payments is going to be longer in the range of 25 years.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  In fact, the borrowings of IDBI have been growing sharply. From Rs. 37,861 crore in 1997, it has gone up to Rs. 56,057 crore as on June 30, 2001. Of this, the borrowings outside India had grown from Rs. 5660 crore in 1997 to Rs. 7,913 crore as on June 30, 2001. In fact, IDBI along with NABARD have been requesting the RBI and the Government to extend the tenure of long-term operations funds availed by the institution from the RBI till 1990. These were taken off following the start of economic reforms in 1991.

Development Of The West Beyond The Mississippi :: American America History

Development Of The West Beyond The Mississippi The years 1840 to 1890 were a period of great growth for the United States. It was during this time period that the United states came to the conclusion that it had a manifest destiny, that is, it was commanded by god to someday occupy the entire North American continent. One of the most ardent followers of this belief was President James K. Polk. He felt that the United States had the right to whatever amount of territory it chose to, and in doing this the United States was actually doing a favor for the land it seized, by introducing it to the highly advanced culture and way of life of Americans. Shortly after his election he annexed Texas. This added a great amount of land to the United States, but more was to follow. The Oregon Territory became a part of the United States is 1846, followed by the Mexican Cession in 1848 and the Gadsden Purchase in 1853. At this point the United States had accomplished its manifest destiny, it reached from east to west, from sea to shining sea. No w that the lands it so desired were finally there, the United States faced a new problem- how to get its people to settle these lands so they would actually be worth having. Realistically, it is great to have a lot of land, but if the land is unpopulated and undeveloped, it really isn't worth much. And the government of the United States knew this. One of the reasons that many did not choose to settle there immediately was that the lands were quite simply in the middle of nowhere. They were surrounded by mountains, inhabited by hostile Indians, and poor for farming. Because of these geographical conditions, the government was forced to intervene to coax its citizens into settling the new lands. Basically the lands were not settled because they were available, they were settled because of various schemes the government concocted to make them seem desirable. The government participated in a great "push" to get its citizens to move to west. At first few people moved to the west, but this changed when gold was discovered in California in 1848. This caused a "gold rush" to the west coast which consisted of many prospectors seeking to find their fortunes in the gold mines of California. Many traveled to the west coast, however few actually found their fortunes. Development Of The West Beyond The Mississippi :: American America History Development Of The West Beyond The Mississippi The years 1840 to 1890 were a period of great growth for the United States. It was during this time period that the United states came to the conclusion that it had a manifest destiny, that is, it was commanded by god to someday occupy the entire North American continent. One of the most ardent followers of this belief was President James K. Polk. He felt that the United States had the right to whatever amount of territory it chose to, and in doing this the United States was actually doing a favor for the land it seized, by introducing it to the highly advanced culture and way of life of Americans. Shortly after his election he annexed Texas. This added a great amount of land to the United States, but more was to follow. The Oregon Territory became a part of the United States is 1846, followed by the Mexican Cession in 1848 and the Gadsden Purchase in 1853. At this point the United States had accomplished its manifest destiny, it reached from east to west, from sea to shining sea. No w that the lands it so desired were finally there, the United States faced a new problem- how to get its people to settle these lands so they would actually be worth having. Realistically, it is great to have a lot of land, but if the land is unpopulated and undeveloped, it really isn't worth much. And the government of the United States knew this. One of the reasons that many did not choose to settle there immediately was that the lands were quite simply in the middle of nowhere. They were surrounded by mountains, inhabited by hostile Indians, and poor for farming. Because of these geographical conditions, the government was forced to intervene to coax its citizens into settling the new lands. Basically the lands were not settled because they were available, they were settled because of various schemes the government concocted to make them seem desirable. The government participated in a great "push" to get its citizens to move to west. At first few people moved to the west, but this changed when gold was discovered in California in 1848. This caused a "gold rush" to the west coast which consisted of many prospectors seeking to find their fortunes in the gold mines of California. Many traveled to the west coast, however few actually found their fortunes.

Gods and Goddesses of Greek Mythology Essay

The book Mythology by Edith Hamilton is a novel devoted to the legends of Greek Mythology. Such legends tell stories of mighty heroes, ghastly creatures, and Gods and Goddesses with amazing powers. In order to fully understand these myths, a reader must examine each of these Gods or Goddesses individually and identify the unique Characteristics they have. The first humanoid Gods that appeared in Greek Mythology were the Titans, or the Elder Gods. They were the children of Mother Earth and Father Heaven, and due to their enormous size and strength, they ruled over the universe for eons. Some of the most famous Titans were: Atlas, who carried the world on his shoulders; Prometheus, who brought fire to mankind and then was famously chained to a mountain; and Cronus, the king of the Titans. The Titans were in complete control of the heavens and earth, and it would have stayed that way if it weren’t for their own children. The children of the Titans were the Gods and Goddesses of Olympus, or also known as the twelve great Olympians. The king of the Gods, and the God who overthrew Cronus to take his power, was Zeus. Zeus was the supreme ruler after the fall of Cronus, as well as the Lord of the Sky, the Rain-god, the Cloud-gatherer, and the wielder of the awful thunderbolt. His power was greater than all of the other Gods combined. Zeus was also a lover of many mortal women, and had many demigod (half-god half-mortal) children. Zeus’s bird was the Eagle, his symbols of power the thunderbolt and his breastplate Aegis. Hera was Zeus’s wife and sister. She was the Goddess of Marriage. She was always venerated in the home, and it was she married women turned to with their problems. Ironically enough, Hera was also well known for her hatred of the women who Zeus had affairs with, punishing them for mercilessly in blind anger. Poseidon was the God of the Sea, and was the most powerful God besides Zeus. He could calm the waters with his golden chariot, or create mighty storms. He carried beside him a three pronged trident that could cause earthquakes. Besides being honored for the lord of the water, he also created the first horse and gave it to man. Hades was the God of the Dead. Not to be confused with the God of Death itself, who was Thanatos; Hades ruled the underworld. His kingdom was under the surface of the earth, so all the precious metals under the ground belonged to him; therefore, he was also the God of Wealth. He did not often leave his dark realm, and he was not a welcome visitor when he did. Athena was often recognized as a ruthless war Goddess. She was born from Zeus’s head fully grown and clothed in battle gear. She has been called gray-eyed and the protector of civilized life. She was a symbol of wisdom, purity, and reason. The city of Athens was her special city, honorably named after her; the olive invented by her was her tree. Apollo has been known as the Archer and God of Truth. He was also the Healer, who first taught men the healing art. He was the master musician at Olympus, and delighted the Gods with his beautiful golden lyre. The Laurel was his sacred tree, and the Dolphin and Crow his most sacred animals. Artemis was a Lady of Wild Things, huntsman in chief to the Gods. She was known as the Moon Goddesses, and carried silver arrows that could pierce an animal as harmlessly and quickly as moonlight. Notably, all animals were sacred to her, especially the deer. Aphrodite was the Goddess of Love and Beauty. She was said to be born of the foam of the sea near the islands of Cythera and Cyprus. Where ever she goes, beauty follows and men succumb to her love. Her husband was the disfigured God Hephaestus; however she was often portrayed as in a love affair with Ares. Hephaestus was the God of Fire; also known as the Master of the Forge. He was the only ugly and lame Olympian. He built furnishings and weapons for the Gods, and it was said his forge was under a volcano. He was a kindly, peace-loving, and popular on earth and on Mount Olympus. Hestia was the God of the home and hearth. Though she had no distinct personality, when a baby was born it was always carried around her shrine, and every meal started and ended with an offering to her. Every city had a hearth dedicated to her that was never allowed to go out. Hermes was a messenger, trickster, trader, and thief. Before he was even a day old, he stole Apollo’s herds; then, as recompense, he invented Apollo’s lyre for him out of a tortoise shell. He was a God to all traders and merchants, and was Zeus’s personal messenger. He was the most cunning and shrewd out of all the Gods. The God of War was Ares. He was a fierce cruel son of Zeus and Hera, both who detested him. He delighted in bloodstained battles and the fury of fighting, yet was also described as a coward, who ran away moaning when he was wounded. His bird was naturally the vulture. The twelve great Olympians listed above were not the only Gods in Greek Mythology. In addition to these Olympians, the Greeks also had many minor Gods that they worshiped as well. They lived on the Earth rather than on Mount Olympus. The two most important minor Gods were Demeter and Dionysus. Demeter was originally the Goddess of Corn, though she grew to represent the Goddess of all harvests. She was the one who brought summer and spring to the earth, and who brought every fall and winter when sorrowed for her daughter. She was very important to Greek culture had many mortal like qualities, such as grief and sadness. Dionysus was the God of Wine and drunken revelry. He had a strong dual personality, where he could make men ecstatic and oblivious to their troubles, but then also make them hostile and insane. He traveled the world, hardly staying on Mount Olympus, discovering the secrets to winemaking. He was a welcome visitor at any party, and Greek Culture loved him. Another minor God that was well known was Pan. He was the shepherd and goat herder’s God. He was not divine, glorious, or radiant, but rather ugly because of his goat hooves and horns. He was an excellent musician and famous for the sweet nature melodies he played on his reed pipes. In addition to Gods and Goddesses, the magical creatures of Greek Mythology are also important to know. Satyrs were half-goat half-man dwellers of the forest. Centaurs were a half-horse half-man creature; The Gorgons were three dragon-like creatures who turned men to stone; The Sirens lured seamen to their deaths with enchanting songs. The Gods, Goddesses, and creatures of Greek Mythology were fascinating. The unique characteristics of each god and goddess are what supported entire cultures, as well as made the timeless tales of so remarkable. With help from Edith Hamilton’s Mythology, a person really can understand who the Gods and Goddesses of Greek Mythology were, and gain knowledge about how each of them was different but important individually.

Free Essays on Summay And Response

In a publication of her piece â€Å"From the Welfare Rolls, a Mother’s View† in Newsweek Magazine in August 1999, the author Elyzabeth Joy Stagg describes her personal circumstances that led to her need for public assistance. Being one herself, she also expresses her feelings and her point of view on the topic of welfare moms. â€Å"From the Welfare Rolls, a Mother’s View† by E.J.Stagg touched my feelings and made me change my perception of welfare moms a little. Stagg states that most people believe that welfare recipients simply don’t want to work. And I have to agree with her, people who have a job tend to think this way. But there are also people who fit into that category. For example, I have an aunt who is going to be 40 this year. She has five children from five different men. She dropped out of school when she was 14 and she has never had a job for more than two weeks. She says she doesn’t like to work. On the contrary, Stagg makes a different impression. As she proves, there are people on welfare who desperately want to work to earn some money to live a better life. And she isn’t just a statistic. She has many skills and qualifications. In my opinion she makes it clear that being on welfare is not her first and final choice. Stagg writes that her children’s fathers are both more than 10 years older than she is. It seems to me that she follows a certain pattern of bad choices and bad decision making. Otherwise she wouldn’t have had unprotected sex again and she wouldn’t have gotten Y. Dietzold P.2 ... Free Essays on Summay And Response Free Essays on Summay And Response In a publication of her piece â€Å"From the Welfare Rolls, a Mother’s View† in Newsweek Magazine in August 1999, the author Elyzabeth Joy Stagg describes her personal circumstances that led to her need for public assistance. Being one herself, she also expresses her feelings and her point of view on the topic of welfare moms. â€Å"From the Welfare Rolls, a Mother’s View† by E.J.Stagg touched my feelings and made me change my perception of welfare moms a little. Stagg states that most people believe that welfare recipients simply don’t want to work. And I have to agree with her, people who have a job tend to think this way. But there are also people who fit into that category. For example, I have an aunt who is going to be 40 this year. She has five children from five different men. She dropped out of school when she was 14 and she has never had a job for more than two weeks. She says she doesn’t like to work. On the contrary, Stagg makes a different impression. As she proves, there are people on welfare who desperately want to work to earn some money to live a better life. And she isn’t just a statistic. She has many skills and qualifications. In my opinion she makes it clear that being on welfare is not her first and final choice. Stagg writes that her children’s fathers are both more than 10 years older than she is. It seems to me that she follows a certain pattern of bad choices and bad decision making. Otherwise she wouldn’t have had unprotected sex again and she wouldn’t have gotten Y. Dietzold P.2 ...

Elimination of the Gas Chamber in Animal Shelters Essay Example

Elimination of the Gas Chamber in Animal Shelters Essay Example Elimination of the Gas Chamber in Animal Shelters Essay Elimination of the Gas Chamber in Animal Shelters Essay Elimination of the Gas Chamber in Animal Shelters The push for the elimination of the Gas Chamber to euthanasia animals in the Licking County Animal Control Shelter has been recently fueled by protestors that want the gas chamber shut down. The animal rights group together with the members of the Licking County Political Action committee gathered with the purpose of abolishing the use of the gas chamber and reforming the county animal shelter. Although the Euthanasia by Injection is the shelters primary method of putting an animal to death, they are still using the gas chamber, in certain cases, to euthanasia animals. Euthanasia by the gas chamber is a cruel, dated and should not be tolerated. A lethal injection is a faster more humane way to put an animal to death. There are several methods to put an animal to death and all are based on various social, psychological and physical circumstances. The American Veterinary Medical Association (AVMA) considers sodium pentobarbital and CO acceptable methods of euthanasia for dogs and cats in animals in shelters. However, although the AVMA considers CO as an acceptable method of euthanasia, they strongly support EBI as the preferred method of euthanasia. EBI is also supported by the National Animal Control Association (NACA), the Association of Shelter Veterinarians (AOSV), and The America Humane Association (AHA) of the United States. According to Doug Fakkemas article in the Euthanasia by Injection (EBI) Myth vs. Fact Sheet, he states that, the gas chamber can take up to 25 to 30 minutes to end an animals life; whereas EBI causes loss of consciousness within 3 to 5 seconds and clinical death within 2 to 5 minutes (Fakkema, n.d.). Euthanasia by these archaic gas chambers should not be allowed. Alth ough animal euthanasia is an act of painlessly putting an animal to death, the Licking County Animal Shelters gas chamber does not apply to this rule. The animals are subjected to a painful death thus disobeying the rule of euthanasia. This has led to numerous complaints by the residents and the county political action committee. On April 24, 2010, an article in the Newark Advocate reported that about 100 protestors gathered to protest the use of the gas chamber outside the Licking County Animal Shelter. According to the article, they have been protesting the gas chamber for about twelve years (Sudar, 2010). The animal rights group together with the members of the Licking County Political Action committee wants the gas chamber abolished. On April 28, 2010, another article appeared in the Newark Advocate in which the protestors lobbied the Licking County Commissioners to remove and disassemble the gas chamber. According to Ronnie Kidd, one of the local organizers said, Weve heard a lot of promises, but the actions are not meeting the words. We will go on until the change happens. We are not going away until the problem goes away (Hollon, 2010). The Licking county citizens want all shelter animals euthanized by EBI. Jon Luzio, Director of the Licking County Animal Control Shelter said that, despite some reports, he wanted to ensure the residents of Licking County that the pets that were euthanasia via the gas chamber they passed quickly and humanly. He also noted that the animal shelter requires more reforms and a plan for the creation of an advisory council are being considered. The council will consist of local professionals who will make recommendations about the shelter. Mr.Luzio went on to say that the euthanasia rates are the lowest in the state of Ohio and that the adoptable dogs are kept for up to 30 days longer than required by law. He stated that Even though our shelter is transitioning to euthanasia by injection, we are still using carbon monoxide for aggressive animals (personal communication, 17 Mar 2010). Mr. Luzio also provided statistics that show the euthanasia rates are on the decline. For example, below is a chart provided and compiled by the Licking County Animal Control Shel ter that confirms the decrease in the euthanasia rates, in Licking County. As one can see, the euthanasia rate has declined, but the fact still remains that the shelter is still using the gas chamber to euthanasia animals. Although the county commissioner and the director of the Licking County Animal Control Shelter told the advocate that the gas chambers are not in use, unless an animal is aggressive, the groups through its commissioners are pushing towards the elimination of the gas chambers altogether. There is no reason to continue using the gas chamber for aggressive animals. According to an article in Animal News by Doug Fakkema, a trainer and consultant for the AHA stated, I can euthanize a dangerous dog in his or her kennel by feeding sodium pentobarbital, no handling necessary (Clifton, 2006). These animals can be sedated and then injected instead of dragging them chaotically into a gas chamber. The article goes on to explain that there are several control methods available, so the shelter workers do not have to handle the aggressive animals. Thes e restraints include restraint poles, squeeze gates, and syringe poles. Shelter workers can then sedate the animal with a dose of pre-euthanasia drugs. If for some reason shelters do not have restraints, the shelter workers can mix the powder form of sodium pentobarbital in a can of dog food; this will make the animal unconscious. Once the dog is unconscious, a lethal dose of the drug can be administered. This is the most humane method of euthanasia of animals. In addition to the pain and suffering that the animals experience in the gas chamber, carbon monoxide can also cause health risks for the shelter workers. According to an article from the Journal of the American Medical Association in 2006, Researchers discovered a link between severe carbon monoxide poisoning and death years later from heart disease (Henry, 2006). Carbon monoxide is extremely hard to detect because it is colorless, tasteless, and odorless. Carbon dioxide can cause asphyxiation, kidney damage, or induced coma and heart disease if released in confined areas. For example, in 2009, a gas build-up in a North Carolina shelter caused the door to explode, and an animal control officer was taken to the emergency room. Even, though there are no reported incidents like this in the Licking County Animal Shelter, there is still the possibility of exposure and injury based on the documented reports Furthermore, EBI also provides shelter workers the dignity they deserve when face d with the difficult job of euthanizing pets. Most shelter workers have an incredible stressful and emotional job. They have to do what they do because of societys lack of responsibility for their pets. Many workers get into the line of work because they truly care about animals and only want to provide comfort for the animals in their final moments of life. EBI offers this comfort. In contrast, the gas chamber is both cruel and upsetting to the physical and emotional well being of humans and animals. Many supporters argued that the gas chamber is more cost effective than lethal injection. However, a 2009 study by the AHA shows EBI is less costly than gas to communities. The AHA recently commissioned Doug Fakkema, to perform a study on the costs associated between EBI and gas. Fakkema stated that , he used data from an animal shelter organization in North Carolina, and it was based on the number of dogs and cats euthanized in 2007 which was 5,427. The study shows that the cost to use carbon monoxide gas is $4.98 per animal. The cost to use carbon monoxide poisoning without a tranquilizer is $4.66 per animal. The cost to use EBI, however, was only $2.29 per animal (Fakkema, 2009.). These cost figures from North Carolina are comparable to other states and show that euthanasia by EBI is more cost effective than gas. Another issue with the gas chamber is that the animals do not always die, as documented by Stray Rescue founder Randy Grim. He tells of the story about a dog, which he na med Quentin, who survived a gas chamber at the animal shelter in the city of St. Louis, Missouri. The animal control officer opened the door to the gas chamber and saw the dog standing on the other dogs, and she immediately called Randy Grim, who rescues dogs and tries to place them in new homes. She stated, I did not have the heart to gas him again (Grim, 2005). Therefore, Randy Grimâ„ ¢s lobbying efforts and his ability to raise money convinced the St. Louis Shelter to shut down the gas chamber for good. In another article, an incident happened in North Carolina at the Davies County Animal Shelter in April 2005 in which another puppy survived the gas chamber and was later found at the dump (Gunning, 2005). These incidents helped persuade many states to pass laws to prevent carbon dioxide and monoxide euthanasia of shelter animals. For example, nine states including Oregon, Wyoming, Delaware, Virginia, Tennessee, Rhode Island, New York, New Mexico and Illinois have banned the us e of the gas chamber. The use of the gas chamber needs to be abolished; this is a cruel and inhumane way to put an animal to death. A lethal injection is more humane, less expensive, and less time consuming than the use of the gas chamber. The continued use of the gas chamber has led to numerous complaints by the residents and the county political action committee. However, strict follow up of the issue needs to continue through the local government until all shelter animals are euthanized by lethal injection. References Clifton, M. (2006, October). Could carbon monoxide gas chambers make a comeback Retrieved May 18, 2010, from Amimal People: animalpeoplenews.org./ 06/10/carbongaschamber106.html Fakkema, D (n.d.) Euthanasia by Injection (EBI) Myth vs. Fact Sheet. (n.d.). Retrieved from http://michiganpetfund.org/userfiles/file/american%20Humane%20M1%20EBI%20myth -fact%20sheet.pdf Fakkema, D. (2009, January). EBI cost analysis matrix 2009. Retrieved May 17, 2010, from from American Humane Association: americanhumane. .org/assets/docs/advocy/ADV-co-ebi-cost-analsis09.pdf. Grim, R. (2005). Miracle dog: how quentin survived the gas chamber to speak for animals on dealth row. St. Louis, Missouri, United States: Alpine. Gunning, M. (2005). Puppy survives euthansia attempt, trip to the dump. Retrieved May 19, 2010, from freewebs.com/animalshelternews/index.htm. Henry, T. D. (2006). Heart injury due to carbon monoxide poisoning increases long term risk of death. Journal of the American Medical Association , 295, 398-402. Hollon, A. (2010, April 28). Protesters step up fight against gas chamber at animal shelter. Retrieved May 18, 2010, from Newark Advocate: animalconcerns.org/ external.htmlwww=http%3A//www.newarkadvocate.com/article/20100414/updates01/1 00414026/1002NEWS01itemid=201004150650480.543111 Sudar, A. (2010, April 18). Animal shelter protest draws about 100. Retrieved May 18, 2010, from Newark Advocate: newarkadvocate.com/fdcp/1272147611100

Land Economics and Planning Essay Example | Topics and Well Written Essays - 3000 words

Land Economics and Planning - Essay Example Firms complete a great deal of market analysis before searching for a suitable location. In addition, firms compile detailed information regarding the cost of product. They know whether electricity cost is more important then freight cost or labor price. Prepared with a list of "must haves" based on this information, the firm's site consultant or representative begins the quest for the firm's ideal location. You can be assured that, like the shopper looking for a pair of shoes, individuals seeking a site for their firms are not about to change the selection criteria because they had a great dinner at your local restaurant. That is why developing a site is so competitive and requires a great deal of preparation by community leaders. It didn't work for our shoe clerk to offer to dye the shoes the right color, and it won't work for a community when it offers to change the terrain of its local industrial site. Instead, a community needs to spend time long before that first visit by a fir m's site-selection team seeking answers to the details regarding the site the community wishes to promote. The more a community considers site-selection criteria before it selects or develops a particular site for promotion, the lower the likelihood becomes that local leaders will need to explain why they spent so many public dollars on a site that is drawing no interest. Most communities in the UK can claim to have sites available for business development. Under closer inspection, these sites are usually either undeveloped open spaces (often agricultural lands) at the edge of the community or former industrial lands within the community. Both of these share a common problem: Businesses cannot occupy them without substantial infrastructure improvements.Sites that have been previously used for industry or other activities are called brownfield sites. Most are in central city areas and are often surrounded by mixed land uses such as residential, commercial, or public (schools and hospitals, for example). Usually brownfield sites were occupied by industrial complexes. Since older industries used multistory facilities, these sites are often on small parcels of land. Modern factories are laid out horizontally (using one story) to facilitate assembly lines and flow of products. Older sites carry the risk of environmental contamination, especially since the y were most likely operated during a period of less stringent environmental regulations. Environmental contamination can be costly to clean up. Finally, older sites may still contain the buildings or other structures from the previous land use. These will either need to be demolished or refurbished (this often includes such actions as bringing the structure up to current fire, building and disability codes as well as other standards). To minimize their costs and risks, businesses will usually locate on sites that require minimum investments in infrastructure and other improvements. This usually eliminates the unprepared sites. Hence, communities that want to have successful business sites must have developed a plan for creating a prepared site. Site development is utilized to create marketable, prepared business sites. 1.1 Requirements for a Prepared Site It is important to realize that for a site to be effective, it must satisfy the needs of a particular business. The site is constructed to improve the quality of life of a community, but it still must be a viable site to attract business. As we stressed above, a

The Effects of Leakage Radiation from X-Rays Coursework - 120

The Effects of Leakage Radiation from X-Rays - Coursework Example The paper reveals the contribution of Heinrich Hertz to the history of radioactivity through the discovery of the presence of radio waves. However, it was Henri Becquerel, who conducted further studies on the beneficial effects of radioactive waves. The paper reveals that the work of the two scientists led to the discovery of the possible uses of radioactivity. Madame Curie is credited for having carried out researches that led to the discovery of more uses of radioactivity. The paper also reveals the contribution of Thomas A. Edison about the use of the most effective calcium tungstate-based option in the radiation process. Hal Gray is credited for having discovered the health-related use of radioactive waves while Herman Muller was the scientist who is credited for the discovery of the fact that radiation directly contributed to the production of new genetic traits.Radiation refers to the process through which energy is emitted in the form of waves or particles. Radiation pioneers played a very important role in radiation history effects. Scientists started making the first discoveries about radiation and atomic structures in the 19th century. A scientist by the name Wilhelm Conrad Roentgen is credited for the discovery of the basic properties of X-rays. Henri Becquerel was the one who first discovers radioactivity. All these discoveries and studies had a significant effect on the history of radioactivity. From the ideas that the pioneers discovered, other scientists are able to discover more about the use of radioactivity. In comparing the understanding of the concept of radioactivity during the 19th century, and the understanding of the same currently, it is evident that there is a significant improvement in the understanding and application of radioactivity in various fields.