Saturday, January 25, 2020

Free Essays: Nature in Dickinson’s Poetry :: Biography Biographies Essays

Nature in Dickinson’s Poetry The Imagery of Emily Dickinson, by Ruth Flanders McNaughton, in a chapter entitled "Imagery of Nature," examines the way the Emily Dickinson portrays nature in her poetry. Dickinson often identified nature with heaven or God (33), which could have been the result of her unique relationship with God and the universe. There are a lot of religious images and allusions used in her poetry, such as the rainbow as the sign of the covenant God made with Noah. Dickinson always held nature in reverence throughout her poetry, because she regarded nature as almost religious. There was almost always a mystical or religious undercurrent to her poetry, but she depicted the scenes from an artistic point of view rather than from a religious one (34). One of the most obvious things that Dickinson did in her poetry was paying minute attention to things nobody else noticed. She was obsessed with the minute detail of nature—paying attention to things such as hills, flies, bumble bees, and eclipses. In these details, Dickinson found "manifestations of the universal" and felt the harmony that bound everything together (33). The small details and particulars that caught her eye were like "small dramas of existence" (39). Each poem was like a tiny micro-chasm that testified to Dickinson’s life as a recluse. Dickinson’s created "dramas" were not static, but everything from the images she used to the words she chose for impact contributed to a "moving picture" (39). In the following poem, Dickinson writes how nature acts as a housewife sweeping through a sunset: She sweeps with many-colored brooms, And leaves the shreds behind; Oh, housewife in the evening west, Come back, and dust the pond! You dropped a purple ravelling in, You dropped an amber thread; And now you’ve littered all the East With duds of emerald! And still she plies her spotted brooms, And still the aprons fly, Till brooms fade softly into stars— And then I come away. Dickinson artistically shows the "sunset in terms of house cleaning" (36). The themes of domestic life and housewifery are displayed in the preceding poem. Only somebody with the observational powers and original creativity like Emily Dickinson could see something so unique and refreshing in a sunset.

Thursday, January 16, 2020

IPO of Hertz Essay

1. Why are the private equity sponsors pursuing an IPO of Hertz at this time – that is, what is the purpose of the IPO? The sponsors wanted cash in order fund another special dividend. They felt that even though they had only owned the company for short time, they were in the perfect position to sell it. There are several reasons why 2006 was an opportune time for the IPO of Hertz. The market was on the rise with the S&P up over 10% on the year. The IPO market itself was incredibly strong, outperforming 2005 by November. As the case states â€Å"198 IPOs had price raisings approximately $41 billion. The pricing of IPOS also seemed solid. Of the 198 deals, the average first-day return (not annualized) was 8.8%. After four weeks, nearly 60% were trading above their offer prices†. Hertz was also recognized as one the top car rental brands in the world, it’s branding was dominant throughout North America, which in turn, gave it premium pricing power. At the time, Her tz also had the opportunity to expand in both the non-airport and equipment rental markets, which also has higher margins than general car rentals. 2. What are the differences between conventional IPOs and IPOs that arise from leveraged buyouts? First of all, it appears that private equity-led IPOs (RLBOs) are more successful than their non-buyout-backed counter parts. According to the case â€Å"a study which examined nearly 500 private equity-led IPOs from 1980 to 2002. For example, relative to $1 invested in the S&P, investors in RLBOs earned $1.05 on average over 36 months following the IPO compared to $0.81 in non-buyout-backed IPOs.† Sponsors also take it upon themselves to use debt in order to issue a special dividend and pay themselves for their work. This action typically raises concerns whether the sponsors are invested in the company over the long term. However, private equity firms claim that one of their advantages is their long-term perspective, a study by Moody’s involving 222 buyouts determined that this was not the case and that Special dividends resulted in a credit downgrade almost half of the ti me. 3. Should the sponsors have taken on additional debt and paid themselves a dividend from Hertz? No, the sponsors should not have taken on additional debt and paid themselves a dividend from Hertz. This pre-IPO action implemented by the sponsors shed negative light on themselves and the company as a whole. It portrayed entitlements of greed while hurting Hertz well established market reputation, it discouraged investors from potentially investing in the company, as well as throwing a  negative persona over the future outlook for Hertz. The dividend payment also caused a media uproar with more negative externalities being portrayed against the sponsors, as they were seen as money hungry investors with no true intention of expanding the value of Hertz. They were viewed as just wanting to receive their money and exit the company. Their actions were seen as selfish by the public and their peers, which was reflective by the demand for Hertz shares decreasing, along with the range of the IPO value falling from a stronger near $18 dollar range to a substantial decrease at around $15. The dividend payment provided doubt on the sponsors in how it was seemingly impossible to achieve value creation as well as significant management improvements in such a short time period, overall hurting the value of the company. 4. What are the pros and cons of public shareholders should consider when investing in sponsor-backed IPOs? This question boils down to the differences between investing in a sponsor backed IPO and investing in a non-sponsor backed IPO. During the time of this deal, the Great Recession was nearing its start, so the market took a big hit with that being said. Both sponsor and non-sponsor backed IPOs underwent price declines in their share-price valuation during this time, which should be viewed as a negative when considering investing in sponsor backed IPOs. To build on that with something that can be viewed as a positive, is that sponsor backed IPOs fell at a lesser rate than non-sponsor backed IPOs, decreasing at roughly 9% and 12% respectively. Another positive of sponsor backed IPOs is that they tend to generate greater post IPO price appreciation than that of non-sponsor backed IPOs. All in all, PE sponsors, â€Å"create value from being able to invest and operate with a longer-term perspective than public companies.† This long term perspective leads sponsors to make tougher decisions in terms of operations and debt, as well as being able to, â€Å"hold managers more accountable for higher levels of performance than public companies.† The quick exit tactic often used by PE sponsors does however bring to debate whether these sponsors are, â€Å"in it for the long haul or only for themselves.† 5. At the $15 offer price, does the Hertz IPO represent a good investment opportunity for Berg? Would you invest in the Hertz IPO? After conducting our analysis of the value of Hertz, we believe that offer price of $15 is still too low. We believe the share price to be about $12.69. Therefore, Hertz would not be a good  investment opportunity for Berg and I personally would not invest in the company either. 6. The sponsors invested $2.3 billion in equity (divided equally among them) to finance the $15 billion buyout of Hertz in December 2005. If the Hertz IPO is completed at the $15 offer price and the overallotment option (Greenshoe) is exercised, what is your estimate of the gross returns to the sponsors will earn on their $2.3 billion investment in Hertz (i.e. ignoring carried interest or management fees on the funds)?

Wednesday, January 8, 2020

Aging Begins As A Young Adult - 1970 Words

FALL RISK 2 The Process of aging begins as a young adult. A new life is so tender, fragile, helpless, and in need of care from others. Toddlers are wobbly as they take their first steps and learn to run, falling and bumping their little round heads and chubby knees. Toward the end of life no matter how healthy, strong, or willing they are, older adult begin slowing down which puts them at a risk for falling. Their metabolism is much slower than it once was, they have less energy and endurance which results in decreased muscle tone due to the lack of use, and osteoporosis sets in leaving them vulnerable to fractures. The geriatric population is considered at†¦show more content†¦The natural aging process is only partially responsible for falls in the elderly population. Several factors put an older person at a risk for falls which include: certain medications and polypharmacy, mental illness, certain disease s such as Alzheimer’s and dementia, drug abuse, vision changes, incontinence, impulsive behavior, vertigo, and clutter in a room causing patient to stumble. According to the Stubbs (2011) , the most crucial piece of a patient’s history to predict a fall is if the patient has fallen before. The Center For Disease Control (2011) states that â€Å"every 17 seconds an older adult will require emergency medical treatment for a fall related injury and that even more concerning, in the next 30 minutes an older adult will die from injuries sustained from the fall†. The trained healthcare staff, especially the nurse, has a significant role and responsibility in identifying and taking all necessary measures to help each patient avoid falling. Understanding that different elderly patients fall for different reasons is crucial in preventing falls in patients. Hill Fauerbach (2014) describe three types of falls that occur in a health care facility: Anticipated Falls are at tributed to know physiological conditions and are most common, 78% of patient falls.