Great response from Arthur Miller Essay

The Crucible was written in 1953, by Arthur Miller. Miller has said that the purpose of the play is to comment on the parallels between the unfair Salem Witch trials and the ‘Red Scare’ that lasted eight years 1948-1956. A Crucible is a large container that is used in the production of steel, where they are heated until they melt. A Crucible can stand extremely high temperatures. This is a direct comment on what the play is about. Arthur Miller provided an artistic response to the political climate and he wrote to tackle certain issues such as intimidation. Under McCarthyism, the United States was afraid of communisms influence. McCarthyism came from Senator John McCarthy, who set out to find any threats to the American life and their security. Anybody suspected of communism, mainly those in the entertainment industry, either confessed and gave names of other people or the American Government blacklisted them. Miller, in the entertainment industry, who was protecting his business and friends from any negative outlook it gave, refused to testify to the Committee and was blacklisted. McCarthyism has a great likeness to the play ‘The Crucible’. In both situations people only wishing to save themselves falsely accuse many people who suffer. John and Elizabeth Proctor don’t have a normal husband and wife relationship, although they are married. They are distant with one another. Their relationship is full of suspicions and clearly has a lack of trust: â€Å"What keeps you so late?† is an accusation. Elizabeth really means what have you been doing or where have you been to keep you so late. The strength of their relationship is tested. John tries to please Elizabeth but she cannot forget her suspicions. John explains to her: † I have not moved from there to there without I think to please you, and still an everlasting funeral marches around you heart.† This shows that John feels guilt. John Proctor is an honest man. We see this through the way he acts and what he says. John works hard to provide for his family. He has a good clean name in the village and is well respected. However, when the hysteria begins, he wonders whether to expose Abigail for what she really is, even though his name will be ruined. We see that he truly loves Elizabeth when he confesses lechery in order to protect his wife. The audience are drawn to John Proctor. He is one of few people in the play to be truthful throughout, along with Reverend John Hale. Elizabeth is also an honest person. She is a good Christian woman and acts the way she’s supposed to as a wife and mother. However, sometimes she can be very cold. She, along with many others, is accused of witchcraft simply because she fired Abigail when she suspected that her and John were attracted to one another and didn’t want it to go any further. Even though she has suspected John of lechery and is distant towards him, we know that she deeply loves him. Hale is called into Salem to find out what is going on. He seems a respectful man and gives everyone a chance to prove his or her innocence. He is sort of the plays saviour or hero.  We get to know Abigail Williams through her language and what other characters say. We see that she has power over the other girls and just how far she will go to protect herself, especially in Act 1: â€Å"†¦ I have seen some reddish work done at night and I can make you wish you had never seen the sun go down!† Abigail leads the girls in accusing innocent people of witchcraft. Abigail saw the Indians murder her parents. This could have had an affect on the way Abigail is and how she acts. I think that she is able to threaten danger to the girls partly because of her childhood and what she has seen. In Act 3, Abigail shows her power by the way she speaks to Danforth in the courtroom. She even threatens him, saying that the Hell can take him: â€Å"Let you beware, Mr. Danforth †¦ Beware of it!† After realising what she has said, she immediately pretends she is in another trance and can see things. This is to allow her to get away with what she has said and so Danforth can’t reply to her. There is a great change from Act 1 to Act 3 with regards to hysteria. In Act 1, the girls accuse a few names and they tell just enough lies to protect themselves. Abigail and John Proctor take a gentle lighthearted approach to it in Act 1 and they laugh and joke about it. However, in Act 3 it becomes much more serious. They tell a massive amount of lies and act to make their story believable. Act 3 starts straight away with hysteria. The audience are aware of the gradual build-up because of the characters’ dialogue. As the play moves further along, the plot thickens as more names are thrown into it and even more unbelievable acting takes place with more and more lies being told. In Act 3, Mary Warren tries to go against the girls with the help of John Proctor in order to save Elizabeth and the other innocents. Mary Warren is already a weak and feeble character and when Danforth questions and speaks to her, he uses cruel vocabulary to fade her. It is obvious that he is on the girls’ side and doesn’t believe a word of what Mary Warren is saying. The girls then accuse Mary Warren of witchcraft. Then she sees that she cannot tell the real truth and overcome the girls’ lies so she decides to rejoin the girls. To protect herself she accuses John of making her go against the girls and tell ‘lies’ to them by threatening her. The stage directions in this act build up tension. They add to the drama and the way the girls convincingly act. The stage directions are just as important as the speech. They let us know what is going on and help us understand the characters more. The language also builds up tension. There is a lot of talk about God in the courtroom. Also, there is a lot of cutting each other off. Abigail always tends to cut off Danforth from speaking, so he can’t respond to her, this also shows her power. It is almost like Abigail is speaking and saying things just to stop anyone else from doing so.  Personally, I really like the play. I think it’s a great response from Arthur Miller. There is a mixture of characters and it’s interesting to see how they interact with one another. I like the play partly because it’s a true story and I was interested in finding out what happened.

Machiavelli: Fear

According to Nicolo Machiavelli, fear should play a very significant role when it comes to the world of politics because it is the central driving vehicle to success as well as power, control, and reliability; it is because of fear that societies agree to justice and security. He believed that fear was an essential aspect to politics because of its relation to love, control, and hatred. When taking in Machiavelli’s perceptions of both the concepts of fear and love, it is clear that fear takes precedence over love in his opinion. This is shown in his book, The Prince, when he wrote â€Å"since love and fear can hardly exist together, if we must choose between them, it is far safer to be feared than loved† (The Prince, 1994). Essentially Machiavelli is stating that although it is desired by many to be both feared and loved, it is very difficult to be both feared and loved by everyone, and that fear is more reliable since one of them must be lacking in some aspect (The Prince, 1994). In addition, Machiavelli argued that a Prince himself should not show fear, since it would weaken his appearance and/or his reputation which, according to Machiavelli, should be carefully monitored (The Prince, 1994). Machiavelli also argued that fear keeps the people of a society in line; it â€Å"preserves you by a dread of punishment which never fails† (The Prince, 1994). Furthermore, Machiavelli believed fear to be an instrument that can provide a prince with great power because of its reliability and stability. In addition, Machiavelli argued that a person should only trust the things that he or she can control. That being said, a person cannot be forced or commanded to love another person. Therefore, a ruler should only rely on things he or she can control. This is because fear is a necessary means to being respected as a leader, and it is the responsibility of a leader to have control over his or her society; fear leads to obedience, a key aspect to having control over a society (The Prince, 1994). Furthermore, one thing a ruler (prince) can have control over is fear. This is because the people in a society are afraid of punishment and they are intimidated by the ruler, so they act in accordance with the ruler’s laws. Furthermore, fear is a necessary and a key aspect to being successful and powerful in the political sphere. Machiavelli was not someone who was interested in what was morally correct, but rather what was politically beneficial. That being said, just because Machiavelli argued that a Prince should be feared by society, he is not arguing that he should also be hated by his society. This is shown in The Prince when he wrote â€Å"Nevertheless a prince ought to inspire fear in such a way that, if he does not win love, he avoids hatred† (The Prince, 1994). This quotation is significant because it shows that Machiavelli viewed the concept of hatred as a very bad thing; he saw hatred as the end. That being said, in his view, it is important if a ruler is not loved by the people that they are also not hated by the people. Furthermore, through the eyes of Machiavelli, a ruler (prince) should be feared by the people, but never hated by the people (The Prince, 1994). In the mind of Machiavelli, fear is an important element of politics, not just for its own sake, but for many other reasons. Fear is an emotion of reliability, as well as an instrument for control over a society. Fear is necessary for the sake of the greater good of a society. Furthermore, fear ought to be used appropriately and it is not to be taken lightly, as it should not lead to hatred. In conclusion, Machiavelli viewed fear to be a means to effective leadership; he argued that it pushes people together and it results in security and stability of society (The Prince, 1994). Fear is a way to maintain power and authority over society, and thus it should play an important role in politics according to Machiavelli.

Which Contribute to Low Health Expectancy in Developed Countries

Outline the factors which contribute to low health expectancy in developed countries. Identify and assess possible solutions to reduce this problem. Health expectancy is â€Å"the number of years a person can expect to live in good health†. (New Zealand Ministry of Social Development, 2010). It reflects concern about the quality of life. Furthermore, low health expectancy means that people live in poor health which is affected by diseases and disability. Many factors contribute to low health expectancy, including smoking and obesity.Society should pay more attention to solve these problems to increase health expectancy. This essay will outline the factors which lead to low health expectancy, and then discuss the possible solutions to reduce the problem. First of all, it is obviously smoking is a factor leading to low health expectancy which is very common in developed countries. To begin with, smoking prevalence in European countries is 32% which is an extremely high number (W HO, 2012). In addition, there are some diseases caused by smoking is a well-known fact, such as lung disease and stroke.However, people aren’t aware that how serious it is the smoking problem affect to people’s health. In fact, WHO (2008, p. 14) points out â€Å"smoked tobacco in any form causes up to 90% of all lung cancers,† and a dozen different kinds of cancer and chronic disease are caused by smoking. To sum up briefly, smoking has a very serious impact on people’s health and life in developed countries. Then, this problem could be solved by reducing smoking prevalence and improving people’s awareness of the risk of smoking.The solutions will focus on three aspects which are individual, tobacco industry and the government. Firstly, the solution for individual is quit smoking. Quit smoking is the direct effective way for smokers to increase health expectancy. According to WHO (2012), there are three-quarters of smokers want to quit smoking. How ever it is clearly that the number who quit smoking successfully is far below this data, the main reason for the failure is smokers are addicted to nicotine. The nicotine in tobacco is not only causing a variety of diseases but also leading a highly addictive (Hammond, 2009. . Secondly, the solution for the tobacco industry, they could do the appropriate measures such as add health warnings on tobacco packages, health warnings on tobacco packages increase smokers’ awareness of their risk (WHO, 2008, p. 34). But unfortunately, the tobacco industry would not be willing to do it unless the policy requires them to do so. However, the relevant policies in many developed countries are lacking. So if the national laws and regulations force the tobacco industry to do it then the solution would be more effective.Thirdly, the solutions for government, the government should ban on tobacco advertising and raise tobacco taxes. WHO (2008, p. 37) states that if the government ban on tobacco advertising that the tobacco sales will have up to 16% decrease. In addition, increase tobacco taxes could raise the price of tobacco. According to WHO (2008, p. 39) that â€Å"increasing the price of tobacco through higher taxes is the single most effective way to decrease consumption and encourage tobacco users to quit†. In conclusion, the smoking problem will be solved by joint efforts of the whole community.Apart from that, another important factor which decreases people’s health expectancy is obesity. WHO (2012) states that obesity will become a major factor lead to lower health expectancy in the later parts of this century. Moreover, in developed countries obesity is a very severe problem that affects over 20% of adults on average (OECD, 2011). Furthermore, according to WHO (2012), obesity is the main reason which causes cardiovascular diseases, diabetes, and several types of cancer. That means overweight people are expected to have a low health expectancy.To so lve the problem of obesity, the solution could be considered from three aspects. The first aspect is at the individual level, people should reduce the energy intake from total fats and take regular physical activity to prevent overweight, because obesity is caused by high-energy food intake and lack of physical activity (WHO, 2012). But obviously, this need people have a strong self-control, also diet and excessive exercise may be able to cause the other health problems. The second aspect is about the food industry, the main source of the high-energy food is processed food.Therefore the food industry should reduce the content fat, sugar and salt in processed food, and try their best to provide fresh food, such as fruit, vegetables and nuts. However, the more healthy food will bring about higher prices, and then people will spend more money to improve the quality of their food. The third aspect is about the government and social organizations. The Government has a responsibility to h elp people to improve awareness of the prevention of obesity and to build more public exercise facilities. In terms of social organization, they should cooperate with the Government to implement the policy about obesity.For example, the advertising industry should increase the number of public service advertising about to improve people’s awareness of the risk of obesity? However, this will take a long time and a lot of money. To conclude, healthy expectancy is the indicator of the quality of life. This essay has discussed that health expectancy is reduced by negative factors including smoking and obesity. So it is necessary to analyse these factors, identify and assess the solutions from the aspects of individual, organization and the government to solve the problem, and then to improve people's health expectancy and the quality of people's lives.References Hammond, S. K. (2009). Global Patterns of Nicotine and Tobacco Consumption. Berlin Heidelberg: Springer-Verlag New Zeal and Ministry of Social Development. (2010). Health expectancy. Retrieved October 17, 2012 From: http://socialreport. msd. govt. nz/health/health-expectancy. html OECD. (2012). Obesity update 2012. Retrieved October 17, 2012. From the OECD website: http://www. oecd. org/els/healthpoliciesanddata/49716427. pdf WHO. (2012). Facts and figures. Retrieved October 17, 2012. From: http://www. euro. ho. int/en/what-we-do/health-topics/disease-prevention/tobacco/facts-and-figures. WHO. (2012). Obesity. Retrieved October 21, 2012. From: http://www. euro. who. int/en/what-we-do/health-topics/noncommunicable-diseases/obesity WHO. (2012). Obesity and overweight. Retrieved October 21, 2012 From the World Health Organization: http://www. who. int/mediacentre/factsheets/fs311/en/ WHO. (2008). WHO Report on the Global Tobacco Epidemic, 2008: The MPOWER package. [Electronic version]. Geneva: World Health organization.

HU300 unit 6 DB topic 1 Research Paper Example | Topics and Well Written Essays - 250 words

HU300 unit 6 DB topic 1 - Research Paper Example zierka was able to effectively add a universal appeal to this piece of literature and create a strong link to the audience through the use of pathos as the rhetorical appeal. By making the audience feel the emotions being described to be felt by the main character, the audience empathized and sympathized with her. There were mixed emotions that were apparently exhibited by Hanneh: from being proud and jubilant after she successfully painted her kitchen white; to being anxious and worried after her landlord raised her rent for the first time; and to eventually being enraged, vengeful and distraught after the landlord raised her rent for the second time; and finally, being remorseful, distraught, almost at the verge of losing her mind when she furiously destroyed the beautifulness that apparently caused her misery. In Janaro & Altshuler’s (2012) book, epiphany was explicitly noted as providing an â€Å"insight into life or human nature† (97). In Hanneh’s story, epiphany, which also means a sudden realization, was demonstrated at the climax of the story when she realized that ironically, the cause of all her misery is her desire to emulate the possession of beauty and elegance from the white kitchen she envied from Mrs. Preston and to hope for democracy as she was expectantly made to believe that she could be capable of

Voice-overs and Flashback in Film Noir Essay Example | Topics and Well Written Essays - 1000 words

Voice-overs and Flashback in Film Noir - Essay Example One of the stylistic features common to many noir films is the use of extraordinary narrative devices like voice-overs and flashback sequences. These structural elements are included to underscore or otherwise complement thematic elements of the film. Flashbacks too became an effective medium of remembering and recreating the past, another significant activity in psychoanalytic practice. Apart from the psychological dimension, voice-overs could also be used to emphasize the eerie or dark tone of noir films. With the right tone, the narratorial voice could easily intensify the feeling of doom and generally dark settings of the typical noir film. Flashbacks were also useful in creating suspense or experimenting with the narrative flow, allowing for creative use of plot. This paper will seek to further explore the role played by these two specific stylistic devices with reference to three films: Double Indemnity (1944), The Big Sleep (1946) and D.O.A (1950). Double Indemnity has a simil ar opening to D.O.A with the film starting in medias res to reveal a harassed-looking William Neff enter his office room and begin recording his ‘confession’ addressed to Keyes on his Dictaphone.. The confession triggers off the flashback which presumably will explain the events that lead up to the murder that Neff has just confessed to. Interestingly, just a few minutes into this flashback and the confession of Neff also appears as a voice-over superimposed over the past retelling of events. This film employs both devices then, to build-up its atmosphere. The first of the flashbacks serves to describe what can already be seen on the screen, but with added detail like how the room smelled and how the sunlight made the dust visible. More importantly, it allows access to Neff’s mind and his initial impressions of Phyllis Dietrichson. This voice-over and the next also let the audience know the level of engagement with the crime that Neff had at the beginning and how the plan to murder Dietrichson is initiated entirely by his wife. However, the voice-over that marks the return of the narrative from the past back into the present, with Neff still at the Dictaphone, reveals to the audience that Neff too had been thinking about committing murder since as an insurance agent he believes: ‘In this business you can’t sleep for trying to figure out all the tricks they could pull on you.’ Other than tell us about who did what in the murder plot, the voice-overs also give us significant insight into the criminal’s mind – in this case, Walter Neff’s. As said in the introduction, this was a period of great faith in Freudian psychoanalysis and the idea of exploring one’s sub-conscious was quite popular. The Dictaphone-taped ‘confession’ acts as catharsis for expunging guilt. This is especially evident when Walter says that although he knew everything had gone off perfectly he still felt that it co uld all go wrong. He claims to not be able to hear his own footsteps; that he was walking like a ‘dead man.’ This is a classic instance of the psychoanalytic notion of guilt becoming the driving force behind a person’s actions and being the ultimate reason for that person to give himself or herself up. The Big Sleep does not use either voiceovers or flashbacks but there are several silences in the plot where Marlowe is seen tailing or waiting for action to happen, which act as narrative ‘fillers’. Insights into Marlowe’s psyche are not spoken or recounted as clearly as in Double Indemnity but as Marlowe’s character is sketched out to be hard-boiled but honest, what he says in sincerity can be taken by the audience to be true. For instance,

Case study Example | Topics and Well Written Essays - 500 words - 54

Case Study Example In Washington State in particular, tobacco and marijuana have continued to be most widely smoked by youth (Washington State Health Youth Survey, 2011). The percentage of those who smoked everyday decreased gradually between the years 2005 and 2010 from 17.5 percent to 11.0 percent (Centres for Disease Control and Prevention, 2010). This implied that many people had quit smoking in this period while others had changed from smoking every day to smoking in some days only. The ability to purchase cigarettes is a product of individual income. Tobacco control advocates have seen an increase in the prices of tobacco resulting to a decline in smoking among the population (Shelly, 2010). Taxes are imposed on tobacco products increasing the price of tobacco and hence increase the cost of smoking. This reduces the smoking practice among no income or low-income adults as affordability of tobacco become quite hard (Chaloupka, Straif & Leon, 2011). This could be a reason for people to quit smoking or reduce the rate of smoking. Cigarette smoking among high school seniors declined by a quarter among male students and a half among female students between the years 2001 and 2011 (Centres for Disease Control and Prevention, 2012). The number of people who smoked some days in Washington, increased from 2.4 percent to 4.2 percent. This was not gradual as the number had increased to 5.9 and 5.0 percent between 1995 to 2000, and 2005 respectively (Centres for Disease Control and Prevention, 2010). Because smoking had become expensive between those years, some people may have reduced the frequency at which they smoked from every day to some days. The numbers increase implied that a number of every day smokers and non-smokers had begun to smoke on some days. The percentage of non-smokers in the state had gradually decreased from 29.9 to 25.5 percent between the years 1995 and 2010 (Centres for Disease Control and Prevention, 2010).

Behavior Modification Assignment Example | Topics and Well Written Essays - 1250 words

Behavior Modification - Assignment Example Action stage is that when an individual embraces new behavior for a period of 3-6 months. This is followed by the maintenance stage during which an individual continuous commitment to sustain the new behavior. The last stage is the relapse when an individual tend to have a resumption of old behaviors. Have continued to recall information have read and heard from different sources about the importance of conserving our environment. Even though it has been had to take an initiative as an individual, I have been able to resolve that I will react emotionally to the warnings of environmental protection. I have considered environmental protection as an important aspect of livelihood of mankind. I consider environmental conversation as a means of changing ways that make the entire kingdom of living things happy. Environmental protection enables the sustainability of the life from one generation to the other. As such I have resolved to save my little resources and place them with the agencies that work towards environmental protection. I have mobilized my classmates and other friends who have agreed to work with me towards the same goal. I have found that creating awareness on environmental protection is a productive way of sp=ending my free time outside school. I develop the sense of self satisfaction when I participate in environmental conservation. Environmental conservation helps in protection of property’s value through enabling the restrictions on land use and development. This helps in putting land into proper use thereby enhancing land productivity. This in turn enhances food security for both man and animals on the both short and long run. Environmental conservation enables the protection of water sheds that help in the provision of water supply for agricultural and domestic use (Bethesda, 2008). The resolve for social health change through environmental conservation has encouraged many people

Ethics Should hospitality and tourism companies always demonstrate Essay

Ethics Should hospitality and tourism companies always demonstrate corporate social responsibility Discuss the costs and benefits of such an approach - Essay Example The area of social responsibility extends not to the society in general but it is now focused on the workers, the investors, customers, and suppliers. Corporate social responsibility or CSR is an industry in itself. Over the past decade, this has grown exponentially. The employee volunteering has now emerged as the CSR. Companies like Accenture and Whitbread term this as Corporate Citizenship (Carrington, 2005) where they take up working with the sick children and the local schools. Most of the staff gets involved in some voluntary service or donation. The tourism and hospitality companies bring about a transformation in the area they operate but all of the changes may not be desirable. They need to maintain ethics and discharge social responsibility but the question remains whether they should always demonstrate corporate social responsibility. Today ethics determine the success of an organization. Demands of the shareholders, stakeholders and investors are forcing industries to maintain a high morality in how companies conduct business. Any deviation can adversely affect the brand image, customer retention, and overall business. A certain group of investors in Europe have decided to invest only in companies who are conscious of their social responsibility. Post (2000) contends that an organization’s global corporate citizenship is shaped by internal and external factors. How a company deals with past public issues, stakeholder issues and community concerns determines the employees’ perception of the importance of citizenship matters. Many are of the opinion that since the goal of the public corporation is to maximize shareholder wealth, management should take any action necessary to achieve this goal so long as no law is violated. The rationale for ethics in business stems from the fact that when corporations collapse the society in general loses – the shareholders lose, the customers, the employees, the community, the creditors, the family

Landmark Case Study Example | Topics and Well Written Essays - 2500 words

Landmark - Case Study Example The difficulty of this issue is illustrated in the aforementioned case where Article 3 of the HRA was invoked. According to Article 3 of the HRA, "[s]o far as possible to do so, primary legislations and secondary legislation should be read and given effect in a way which is compatible with Convention rights" (HRA 1998, Art 3), referring to the European Convention on Human Rights and Fundamental Freedoms. By virtue of this provision, the conventional manner that statutory interpretation under the act, is therefore challenged, such that instead of giving effect to the intention of the legislators, which enacted particular statutes; statutory interpretation must now proceed in a manner that gives effect to the original intent of those who crafted the HRA provision. This shift away from the conventional procedure, therefore leads judges to stray in the grey area between judicial interpretation and law making, which endangers them of judicial vandalism and usurpation Parliament's will. ... In Ghaidan v Godin-Mendoza [2004], the House of Lords dismissed an appeal by Ahmad Ghaidan to overturn a previous decision of the Court of Appeal; which named Juan Godin-Mendoza as successor to the tenancy of the flat Godin-Mendoza lived in until the death of his partner of the same sex by interpreting the words "as his or her wife or husband" under the Rent Act 1977 to mean "as if they were his wife or husband" by virtue of Art 3 of the HRA (Ghaidan v Godin-Mendoza [2004], para. 51). The decision to dismiss the appeal was arrived at, by virtue of the judges' interpretation of Article 3 of the HRA, which was deemed appropriate in this case, with one dissenting opinion from Lord Millet (para. 102). Based on the given case, Lord Nicholls (para. 4) identified the relevant statutory provisions as paragraphs 2 and 3 of schedule 1 to the Rent Act 1977: 21. The surviving spouse (if any) of the original tenant, if residing in the dwelling-house immediately before the death of the original tenant, shall after the death be the statutory tenant if and so long as he or she occupies the dwelling-house as his or her residence. 22. For the purposes of this paragraph, a person who was living with the original tenant as his or her wife or husband shall be treated as the spouse of the original tenant. 31. Where paragraph 2 above does not apply, but a person who was a member of the original tenant's family was residing with him in the dwelling-house at the time of and for the period of 2 years immediately before his death then, after his death, that person or if there is more than one such person such one of them as may be decided by agreement, or in default of agreement by

Cell Phones and Driving Research Paper Example | Topics and Well Written Essays - 1500 words

Cell Phones and Driving - Research Paper Example The second performance level comprises the skills required by a driver to move the car in the traffic. This level of performance is known as the tactical behavior. Deficits included in this level show up in the form of driver getting too close to the other vehicles on the road, or the driver’s lack of approach to other vehicles as he/she turns left on an intersection. Impacts of a driver’s conversation over a cell phone on the driving show up as change in speed, change in acceleration, and reduction in the driver’s tendency to quickly react to sudden changes in traffic. Strayer et al (2003) characterize the behavior of drivers influenced by consequences of using cell phone while driving during the first and the second level of performance as â€Å"sluggish†. Performance of the driver changes so that he/she starts getting slower. The third level of performance includes goal-directed traits of driving which are more managerial and project the strategic perfo rmance of a driver. Problems encountered by the driver at the third level of performance include failing to execute the planning and navigation tasks during driving. Presently, there is a lack of direct evidence which supports the observation of deficits on this level with the involvement of a driver in a conversation over a cell phone while driving. Ma and Kaber (2005) found that drivers using cell phone while driving experienced a considerable reduction in their awareness of the road situation. In addition to that, the perceived mental workload of such drivers relative to the adaptive cruise control conditions had increased a lot. Use of cell phones while driving decreases the tendency of a driver to appropriately react to the stimulated situations that call for an alteration in... This research paper discusses the implications of use of cell phones during driving for the society and discusses whether it is appropriate to ban the practice to make the driving experience safer. It is stated that there has been a tremendous increase over the years in the number of drivers who use cell phones while driving. This is a very dangerous and unethical practice as it increases the chances of accidents on the road. Drivers involved in this practice conventionally underestimate and overlook its negative implications and consider it too simple a matter to be taken seriously. A number of alternates to the use of hands to make or attend the call have been suggested including the use of hands free calling service. Nevertheless, this does not make the practice less risky as the fundamental element that increases the chances of accidents is the diversion of the driver’s attention, which is caused when a cell phone is used during driving irrespective of the use of hands. In order to drive safely, it is imperative that the driver is fully attentive towards driving. There has been a lot of research to prove the negative effects of use of cell phones while driving. Some researchers have found the danger inherent in this practice comparable to the danger involved in the practice of drunk driving. In conclusion, the researcher recommends that considering the implications of this practice on the safety of drivers, it is advisable for the government to ban the use of cell phones while driving.

Explain the integers Essay Example | Topics and Well Written Essays - 2500 words

Explain the integers - Essay Example All authors believe that teachers should use a variety of representations and even some relatively unconventional tools. Following is the explanation of various approaches towards teaching mathematics in schools. Mental mathematics, linking cubes, drawings, mental images, concrete materials, equations, base-ten blocks, computer programs can all be used with the goal of students to find the representations they personally can manipulate (physically and or mentally) with most ease and meaning. By choosing the representation that represents how they personally think, students can attach meaning to the situation and it becomes more accessible. Parents should also learn their childrens learning style even if it differs from their own. Parents are also encouraged to "pretend" they enjoy mathematics and can do them "as well and anybody" (Dedyna, 2002, Press). For Thompson, one of the simplest ways of teaching vocabulary is to explain the concepts first, and then attach the term to it. This strategy can be used in conjunction with etymologies (word origins) because when students know these roots, they can make connections between common English words with which they are familiar and mathematics terms. After the space race focus, researchers world wide have in the last twenty years taught us a lot about childrens understanding of numeracy and how they come to develop these ideas. Young-Love ridge (2002) drew attention to the fact that many of the understandings children had on entering school were not well matched to the curriculum and what they were taught. Baroody et al (2005) mentions the work of ten different researchers or research groups who assisted the understanding of childrens mathematical thinking in the last twenty years. Young-Love ridge (2005) acknowledged that teachers in Australia and United States that were given a framework, were better able facilitate their students learning. She valued the work of Fuson and Renick in the United

Arab-Israeli War of 1973 Essay Example for Free

Arab-Israeli War of 1973 Essay The Arab-Israeli War was an armed conflict initiated by the Arab nations of Egypt and Syria against Israel on October 6, 1973 in an effort to reclaim territories that Israel had controlled since the Six Day War of 1967. The date holds special significance to the Jewish calendar, being Yom Kippur, hence this war is also known as the Yom Kippur War. Though Israel was caught by surprise and experienced severe losses during the war, assistance from the United States military led to a cease-fire less than three weeks later. In the aftermath, Israel retained its territories and its aftermath had far ranging effects on the geopolitics of the Middle East. First, the victory of Israel had an uplifting effect on its population. Its military had been seen to have grown largely complacent following the Six Day War. However, despite initial defeats, they managed a successful turnaround of the Yom Kippur War’s outcome. As such, despite the surprise advantage of Egypt and Syria they had regained the upper hand in less than two weeks, though at a high cost in casualties. In effect, Israel woke up to the reality that their military supremacy in the region was not absolute. (Rabinovich 498) Second, by granting support to Israel, the United States invited the ire of oil-producing Arab states. This manifested itself in the actions of Saudi Arabia, which not only reduced its oil production but declared an embargo against the United States. Saudi Arabia was later joined by other oil-producing Arab states and together they extended their embargo against other import dependent nations in Western Europe as well as Japan. The result was the 1973 energy crisis that sent oil prices spiraling past $60 per barrel and close to $100 per barrel in 1979. (Smith 329) Third, on the geopolitical front, enemy states of Israel concluded in the aftermath that they could not defeat it by force, and thus turned towards diplomatic tactics in antagonizing it. The effect was that many African and Third World nations, under pressure from the Arab states, broke their diplomatic ties to Israel. Works Cited No author. â€Å"The 1973 Yom Kippur War. † Anti-Defamation League, 1999. Retrieved September 24, 2008 from: http://www. adl. org/ISRAEL/record/yomkippur. asp Smith, Charles. Palestine and the Arab-Israeli Conflict. New York, NY: Bedford, 2006. Rabinovich, Abraham. The Yom Kippur War: The Epic Encounter That Transformed the Middle eAst. New York, NY: Shocken Books, 2005. Rabinovich, Abraham [2005]. The Yom Kippur War: The Epic Encounter That Transformed the Middle East. New York, NY: Schocken Books. ISBN 0 8052 4176 0. Charles D. Smith, Palestine and the Arab-Israeli Conflict, New York: Bedford, 2006, p. 329.

Preventing Teenagers from Smoking

Preventing Teenagers from Smoking Problem statement It is well documented that tobacco use has caused many smoking related diseases yearly; De Meyrick (2000) reported that almost 20,000 people died each year from smoking related diseases. Smoking has been steadily declining in Australia but there is a need to prevent teenagers from even taking up smoking. According to statistics provided by Quit Victoria (2014), the overall rate of smokers among Australian students aged 12 to 17 was 6.7% in 2011, with 4.1 percent of students within the age bracket of 12 to 15 being current smokers and 12.9 per cent of current smokers being in the age bracket of 16 to 17 years of age. Further, it was reported that the majority of adult smokers adopted the habit as teenagers, with the average age of initiation in 2010 being 16 and these smokers took up the habit seriously after progressing from the experimental stage (Tobacco in Australia 2014). It was also found that 16% of males and 13% of females had become regular smokers by the age of 17 (Tobacco in Australia 2014). A study by Chang et al (2005) also found that tobacco smoking among teenagers has been associated with substance abuse and depression as well as a host of mental health problems in both male and female adolescents. Chang et al (2005) further reported that prevention and early intervention into teenage smoking will not only avert later daily smoking but it can also prevent or mitigate the risk for substance use and psychiatric problems. Considering that smoking has caused many health related problems and has also contributed to other social costs, it becomes crucial to prevent teenagers from even adopting the smoking habit. While there are many anti-smoking campaigns, a specific programme targeting teenagers in Victoria is needed to significantly reduce the statistics of 16% male and 13% female teenage smokers by age 17. Needs Analysis Plan The identified problems and service gaps There was no secondary research on the suburbs most at risk of teenage smoking in Victoria. However, interviews with community health care centres, social workers and schools found that the suburbs of Broadmeadows, Dallas, Coolaroo, Frankston North and Bangholme are most at risk of teenagers adopting the smoking habit. The low socio-economic background of the teenagers and poverty associated and family problems have placed these teenagers at the highest risk of not only adopting the smoking habit but also substance and alcohol abuse. There are high incidences of teenagers presenting themselves with problems associated with substance and alcohol abuse, such as depression and self-harm, at the community health care centres. These findings are typical in other research studies research as well (Johnston Thomas 2008). Local police also reports incidences of teenage brawls and fights as well as an overall higher crime rate in these rough suburbs. It has been found from interviews with local support groups, including schools and community health centres as well as social workers that these teenagers feel displaced and isolated. Due to the shortage of resources, there have not been any specific programmes targeting at these teenagers to address smoking, substance or alcohol abuse. There are programmes by local church groups, schools and community health centres to help the residents of these suburbs. However, these programmes are not properly coordinated and are sporadic and short-lived at best. For this reason, the benefits of any community-based programme to help the teenagers cannot really be realised. Interviews with teenagers in these suburbs found that many of them form friendship with other teenagers in schools. Due to cases of bullying or simply for the need of peer support, children as young as pre-primary form friendship with the older children and teenagers, expecting protection from these ‘gangs’. These children learn their habits and emulate behaviour of the older children of the gangs. Interviews with teenagers found that most consider smoking, substance use and alcohol consumption as a rite of passage that they have grown up and accepted as full member of the gangs. For this reason, some teenagers started smoking and drinking as young as 9 years. The fact that many of the parents are also smokers do not help. The high crime rate in these suburbs is due to the lack of employment for teenagers and the need to support their smoking and alcohol habit. As such, the target audience for the proposed funding is primary school children and high school children livin g in the identified suburbs. The service gaps found are the lack of a sustained programme specifically targeting the children and teenagers in the suburbs of Broadmeadows, Dallas, Coolaroo, Frankston North and Bangholme against taking up smoking as well as support programmes for teenagers to quit smoking. While there are attempts in reaching out to our target market in reducing or preventing smoking by various community groups, there is no concerted effort in pooling the efforts of the community support groups through any programme to address the issues that contribute to early adoption of smoking in these communities. This is due to the absence of a person or community group that is solely responsible for such a programme and the lack of funding. After the funding has been proven successful with the proposed interventions, this can be considered for other suburbs in Melbourne and Victoria in the future. Proposed interventions/solutions It is proposed that a Quit Teenage Smoking Project be the responsibility of Quit Smoking Victoria with a dedicated trained personnel (probably a nurse) and two other full-time staff members in a team to oversee the project. A multi-pronged approach with several partners is needed to address teenage smoking in the identified suburbs. Li Powdthavee (2014) reported from their study that people who stay longer in schools tend to be at a lower risk of taking up the smoking habit. For this reason, it is vital to include the schools as an important partner in this project. It is also crucial to include community health care centres as an important partner in this project, for the simple reason that they are the health authority that can discuss health issues with the teenagers who present themselves at these centres for health related issues. Churches and community groups are also critical partners in this project due to their outreach programs and their network in the community to help th ese teenagers. It is also vital to include businesses’ participation as these businesses can offer casual employment to keep the teenagers off the street where they learn how to smoke. The extra money earned can be useful to teenagers to feed themselves and they also learn a skill and feel respected. Businesses can also be involved through some corporate sponsorship. The multi-pronged approach requires the teenagers to be segregated into two different target groups – the non-smokers and the smokers. The objective for the non-smokers is to prevent them from smoking while the immediate objective for the smokers is to reduce smoking. The interventions are discussed as follows – Conclusion The Quit Teenage Smoking Project/Campaign is a proposed project that needs funding by the Victorian Department of Health to prevent teenagers from taking up smoking. Due to the limited funds available, it is proposed that this campaign be carried out in the poorest suburbs of Victoria. The campaign is a multi-pronged approach that engages not only the community health centres in these suburbs but also schools, churches and community groups as well as businesses because smoking is more than a health issue but also a social and emotional one. The main reason why teenagers take up smoking is because they feel that it is a rite of passage and they want to be accepted in their peer groups. Hence, it is important that these teenagers are occupied with better things than getting into trouble and taking up smoking, which can also lead to alcohol and substance abuse. It is proposed that schools be responsible for keeping the students engaged with several proposed programmes while the churches and community groups keep the students occupied with interesting activities so that these teenagers find meaning in their lives with other activities than getting into trouble and smoking. Businesses can actively recruit teenagers to work for them after school and businesses can also provide sponsorship, such as free meals in schools so that students have incentives to go to school. Of course, the community health centres help by providing medical and emotional counselling support. In order to ensure that the campaign is a success, three monthly review of objectives and measurement of goals are important so that adjustment can be made to the campaign to achieve the best results. References Chang, G., Sherritt, L., Knight, J. R. (2005). Adolescent cigarette smoking and mental health symptoms.Journal of Adolescent Health,36(6), 517-522. De Meyrick, J. (2010). Tobacco smokings changing trajectory in Australia.Journal of Business Research,63(2), 161-165. Johnston, V., Thomas, D. P. (2008). Smoking behaviours in a remote Australian Indigenous community: the influence of family and other factors.Social science medicine,67(11), 1708-1716. Li, J., Powdthavee, N. (2014). Does More Education Lead to Better Health Habits? Evidence from the School Reforms in Australia.Social Science Medicine. Quit Victoria Resource Media Centre 2014 http://www.quit.org.au/resource-centre/fact-sheets/smoking-rates Tobacco in Australia 2014, Cancer Council, http://www.quit.org.au/news/

An Analysis of the Semiconductor Industry

An Analysis of the Semiconductor Industry The semiconductor industry began when the first transistor was built in 1947 by Bell Labs. This first use was as a hearing aid. In 1971 Intel introduces microprocessors which are the brains of the computer onto one chip for the first time. Then in 2005 the semiconductor industry reaches sales of $227 Billion dollars (SIA. 2011). In 2010 the sales were about $300 Billion dollars. The growth of the semiconductor industry has been tremendous. Semiconductors are everywhere. They are used in computers, electronics, telecommunication, industrial machines, transportation, wireless systems, medical, and military. The semiconductor industry is spread out internationally. There are major manufactures in the United States, China, Japan, South Korea, and Europe. You can see the scope and geography of the semiconductor industry is immense and meets us at nearly every aspect of our lives. Its hard to comprehend how much of an impact this industry has made on the way we interact with one another on a regular basis. Semiconductors can do several things. In general, semiconductors process and display information, handle power, store data, condition signals, and alternate between light and electrical energy sources (PPRC, 2008). These processes are unseen but very present in areas mentioned in the above paragraph. The top three semiconductor producers as ranked by isupply.com are Intel, Samsung Electronics, and Toshiba. Intel and Samsung Electronics are set apart from all the others in terms of revenues as you will be able to see in a graph representing this data within the five forces framework section of the report. This industry is very competitive. As technology changes consistently, industry competitors fight to bring the latest and greatest products to market. The semiconductor industry is well known for their innovations and volatile environment. The Industry structure Supply chain End products G-STEP Global In the 1980s, Asia was primarily a place for low-cost semiconductor assembly and low-end consumer electronic product sales. Today, the region not only leads in electronic equipment production-from low-end to advanced products-but it is also a significant consumer of sophisticated electronics. China is now the largest market for cellular handsets, representing 20 percent of demand, and the second largest market for personal computers. South Korea has the most advanced nationwide cellular network in the world. The electronic equipment and semiconductor industries have evolved into a truly global market. Sociocultural Demographic Children have started getting exposed to electronic devices at a much younger age, than ever before. The electronic device manufacturers, also, use the technology to create things targeted towards children as young as 2-3 years old. This indicates that the market for these devices is continually increasing, hence, higher use of semiconductors. Another trend that we see is people switching to smartphones, which again use comparatively more semiconductors that their current phones. In companies, increasing use of cloud computing to store data also helps the sales of semiconductors go up. In general our lifestyle is changing to a world where we use a lot of semiconductors. (Rephrase the last statement) Efficiency will drive the industry. Lower power consumption wins!   doent really matter, its a very global industry. And everyone uses it. The workplace is already filled with people of different ethnicities. (What can I say about it?) (Read income distribution again!) Technological The semiconductor industry is heavily driven by the technological advancements in the products, processes and materials within the semiconductor domain. It is the technological upgrade rate that makes the industry highly cyclic. The industry is constantly striving for low cost, high speed, energy efficient and smaller chips. The technological upgrades are a prime reason for the barriers to entry in the fab segment of the industry, as the change of the fabrication process is a very expensive affair. But since then our public investment levels have been dropping. In 2011, federal investment in research and development has dropped below 1% of GDP. (http://www.scienceprogress.org/wp-content/uploads/2011/02/SciProgResearchandDevelopment-101.pdf) (Page 3 graph) With the emergence of associations like SEMATECH, SEMI and SIA some of the burden was taken off of the individual companies. Intellectual property is now much more perishable than ever before and there are too many challenges to solve alone. We must recognize that alliances in the early stages of technological innovation are imperative to achieving breakthrough results that will deliver against the top and bottom line. John Warlaumont, VP of Advanced Technolog http://www.sematech.org/corporate/annual/annual09.pdf In the  semiconductor industry, for example, a confluence of cost, technology and demand trends is creating a shakeout in manufacturing. Indeed, the fixed costs and minimum scale associated with building a new chip fabrication plant have risen almost as precipitously as unit costs (under Moores Law) have fallen. As a result, few companies can still make the next leap to fabs costing $4 billion apiece. This has created a new set of fabless semiconductor companies, along with the foundries, which focus on manufacturing chips designed by others. Semiconductor companies will need to carefully weigh their strategy. http://www.bain.com/bainweb/consulting_expertise/industries_detail.asp?indID=14 Economic The economy of the country has an indirect impact on this industry. As the economy does poor the wages go lower, unemployment increases. This in turn affects the sales of electronic goods in which these semiconductors are used. However, if the economic health of the country is good, the industry is rewarded. The projected growth in the industry from 2011 2013 seems to be about 10.5%. (http://www.bharatbook.com/detail.asp?id=87078rt=Semiconductor-Industry-Forecast-to-2012.html). During the past recession the wages of the Silicon Valley tech workers dropped down by 10%. (http://www.ecademy.com/node.php?id=157950) Political/Legal In the past five years, information technology, fueled by faster and cheaper chips, has reduced the U.S. inflation rate significantly and has doubled the nations productivity growth rate. http://www.sia-online.org/cs/about_sia Semiconductor design and manufacturing facilities are strategic to our nations economic growth. However, our industry is faced with fierce global competition and our policymakers and regulators must ensure that we have balanced tax, regulatory and trade policies to allow our industry to continue to flourish in the U.S. and remain Americas largest export industry, Brian Toohey, President SIA concluded in 2010. http://www.sia-online.org/cs/papers_publications/press_release_detail?pressrelease.id=1869 The president of SIA proposed a RD tax credit for the US companies. This is in the favor of the industry, as they can spend more money in RD. (Recent paper 17th news) Industry analysis Financial Performance Based on the U.S. semiconductor companies revenues and net incomes 2007 2010 (Figures A,B,;;) the profit margins in the industry generally low. Some companies like AMD and Freescale were making losses even in 2007 before the recession hit. The three biggest U.S. semiconductor suppliers, Intel, Texas Instruments and Qualcomm, have been profitable during all the last four years. The smaller companies by revenue have clearly had worse financial performance. That suggest that the bigger players would have some advantage. Of the top three companies Intel is integrated device manufacturer wheras Texas Instruments (Not Fabless IBM REPORT) and Qualcomm are fabless companies (see Strategic Groups section). There is no clear evidence that one of the strategies would be better than the other based on the recent financial performance. Figure XXX. Top 9 U.S. Semiconductor Companies Revenues and Net Incomes 2007. Data from WRDS COMPUSTAT. Figure XXX. Top 9 U.S. Semiconductor Companies Revenues and Net Incomes 2008. Data from WRDS COMPUSTAT. Figure XXX. Top 9 U.S. Semiconductor Companies Revenues and Net Incomes 2009. Data from WRDS COMPUSTAT. Figure XXX. Top 9 U.S. Semiconductor Companies Revenues and Net Incomes 2010. Data from WRDS COMPUSTAT. The annual data for the rest of the 9 companies is not currently available. Market Shares The Top 20 Semiconductor industry players had a combined 65.2 % market share in 2010 (Figure XXX). The semiconductor industry overall is very fragmented, especially the product development. However, the amount of cutting edge technology chip manufacturers seems to be decreasing. Globally American companies hold about half of the market share. Japan and Asia-Pacific companies have about 20 % each and the rest is EMEA companies. Semiconductor business is a very global business. The importance of Asia-Pacific region has been increasing during the recent years. Figure XXX. Preliminary Estimate Semiconductor Suppliers Revenue Share % 2010. Data from iSuppli (Ford, 2011) Figure XXX. Preliminary Estimate of Global Semiconductor Revenue Share % 2010 by Headquarters Location. Data from iSuppli (Ford, 2011) Porters Five forces Threat of New Entrants Traditionally, because of the huge capital expenditures for startup, it is very difficult for those new entries to be successfully invading the semiconductor industry. Obviously, it is great news for those large companies who can control the market in their favor by using their economies of scale. Besides, the pointed end research and development are other two indispensable barriers for new entries. (Ciolli, 2011)However, recently, with the evolvement of the industry, smaller players could move their attention from manufacturing to research and development. Benefit from the subcontracting of manufacturing, smaller companies has more resources and capital to invest into research of new technologies. The cooperation of subcontracting eased the financial burden of the smaller players and reduced the barrier of semiconductor industry to them. (Investopedia, 2011) This is extremely significant for those smaller entrepreneurial corporations even for the whole structure of the semiconductor industry. Moreover, except the high technology requirement for new entry, another significant barrier to entry the semiconductor market is the software compatibility. As a powerful semiconductor player, they are required to not only create physical technology, but also need to design convenient and compatible software which could collaborate with their processors well so customers could enjoy their product. ? What is the source for this paragraph? Power of Suppliers In terms of large semiconductor companies, they have inherent advantages when choose suppliers from thousands of them (Investopedia, 2011). The large diversified companies usually use enough number of suppliers to minimize the power of each. However, in the specialized semiconductor industry, in which the fabless manufacturing model is used by most of the companies. As a result, fabless companies play an important role in this specialized sector. Besides, not every sub-contractor has the capability to satisfied the needs of the specialized companies, so suppliers are much powerful than those in the large generic semiconductor sector (Ciolli, 2011). There are several supplier groups present to the semiconductor industry. A few of those groups are; capital equipment makers, suppliers of silicon, chemicals, gases, water, energy, metals and other materials are used in manufacturing semiconductor products (PPRC, 2008). Rivalry Among Industry Players The semiconductor industry is very highly competitive. The firms within this industry compete on a daily basis to produce or manufacture a product that is smaller, faster and cheaper. The industry changes rapidly as technology changes rapidly. This keeps it competitive as each competitor can seek and opportunity to create something great before the others do. Within this competitive industry there is a constant pressure to come up with better products. The products of this industry are much undifferentiated as the products they are trying to create are essentially improvements to similar products that already exist. The accomplishments of the products change very little. The methods of production is where can see differentiation. The players are trying to come up with innovative ways to do the same things only in a smaller, faster, and cheaper manner (Investopedia, 2010). Comment by Joona: I disagree with this paragraph to some extent. For example ARM has gained very much competitive advantage with is mobile chip technology, similarly Intel has been the number one in the laptop microprocessors becaus of superior product performance The result of an industry that is this competitive is emerging technology that is cutting-edge. The technology is constantly changing into something better so for competition it makes it hard to remain at the top. What tends to happen in this type of an industry is that there are several industry players with similar size rise as the larger players. This is because no one player can keep excelling with the newest, fastest, and cheapest product available. The four main products of the semiconductor industry are memory chips, microprocessors, commodity integrated circuit, and complex SOC (system on a chip) which is a combination of a system of semiconductors compacted into one small product. The following are the top ten ranked semiconductor industry leaders as of 2010: Intel, Samsung Electronics, Toshiba Semiconductors, Texas Instruments, Renesas Electronics, Hynix, STMicroelectronics, Micron Technology, Qualcomm, and Elpida Memory (Ford, 2010). The graph below shows how these competitors are doing against each other in terms of revenue. It gives a basic understanding how they sit against each other and who are the major players. Figure XXX. Top 20 Semiconductor Suppliers Revenues 2010. Data from iSuppli (Ford, 2011). Power of buyers The buyers of the semiconductor industry are endless. There is a buyer at literally every corner. The switching costs of the buyers in the commodity semiconductor market is small as they can purchase from any semiconductor industry player who is representing the lowest cost available as long as the technology is compatible. The strong role of the industry giants like Intel and Samsung limits the bargaining power of buyers. Computers are definitely the largest piece of demand presented by the buyers in 2011, although it is declining due to the rising sales of smart phones and media tablets (Mutschle, 2011). Buyers in the semiconductor tend to be very price sensitive as the industry is constantly producing products at a lower cost to push the demand of their product. Within the buyers, there are several buyer groups that should be mentioned. The computer industry takes of the bulk of buyer demand, mobile devices and tabloids, and the medical industry to mention a few. These buyers make purchases from the semiconductor industry to continue in daily operations as they are a large part of ongoing business. Joona: This sentence needs clarification. Threat of substitutes The industry has the ability to change in a very short time. This takes away opportunities from substitutes to enter the market segment. It would not take the semiconductor industry very long to respond to a successful substitute as they would find a way to produce the product themselves. The problem that would be present is the money constraint. It can be done but at a cost. The industry players can find themselves spending a lot of money to research and develop new products just to find that their competition beat them to it by a few months. This keeps the business environment volatile and competitive. Joona: This paragraph would need some sources to back the claims up. In addition I found it hard to understand some of the logic. Strategic groups Joona: This is one way to classify the industry. I dont know if it is necessarily the best way to do it. Product line based classification is at least one alternative, but it requires some effort. Groups Based on Level of Vertical Integration Integrated Device Manufacturers (IDM) Some companies, such as IBM and Intel, have both semiconductor design and manufacturing capability. They try to achieve efficiency through vertical integration. Foundry Companies Merchant manufacturers do manufacturing for companies that do not have own manufacturing capacity. Cutting edge semiconductor manufacturing process technology is getting more and more expensive, and thus less and less companies can afford to have own production capacity (Jelinek, 2010). The largest foundry company is Taiwan Semiconductor Manufacturing Company (TSMC). It is a pure play foundry, which means that it only offers manufacturing services without designing own products. Fabless The fabless companies do not have manufacturing capacity. They design chips and buy manufacturing capacity from foundry companies. The fabless companies do not have as large risks relating to manufacturing technology, but as the amount foundry companies decreases, the foundry companies bargaining power will likely increase. This group includes companies like Qualcomm, AMD, Nvidia, Broadcom and MediaTek (Osborne, 2010). Key Success Factors What would it take for some firm to compete successfully in the industry(9) Joona (these guesses are just out of my head, no sources, no proof of validity): Ability to constantly develop new, better, cheaper faster designs Ability to produce breakthrough innovations Ability to form effective networks and partnerships in order to gain advantage of the resources of the collaborating companies New opportunities and threats What are the major emerging trends in the industry that may impact the industry firms in a significant way?(8) The New Threats and Opportunities The most critical treat for semiconductors industry is the rapid price declines due to more player enter the market and the substitute products become available. (Joona: Are new players really a threat given the resources and money needed to enter the industry?) The research by Ross Seymore (A Deutsche Bank Equity Research analyst) suggested that compare with the 30% revenue growth in last year, the chip industry faces a 25% revenue drop due to lower average selling prices for chips and the cyclical demand for semiconductors hits a lull. Seymore also mentioned that a largest average selling price drop may be waiting for the the memory segment which could cause risk to margins across the industry following 2010s record levels as well. ( KAWAMOTO,2011). However, there are some news opportunities for semiconductors players as well. One is the Smart Grid which could save resources in the busy time to balance the application amount of the power. Currently, about two-thirds of power is wasted because of the power grid aging. Inevitably, those aging power grid will be substituted by Smart Grid, which will give a new profit growth point to semiconductors industry. (Xiaona, 2010) Another significant technical innovation will benefit the semiconductors industry is the Immersion lithography which probably will drive the the lithography solution for semiconductor devices manufacturing in the following generation. Who can grasp this new technology will take a vantage point in the next decade of competition.(JVSTB, 2004) Joona: We should try to find some big picture opportunities and threats that have could have a significant impact on the industry Predictions (Next 5 years) How dynamic is the industry, stage of its life cycle? What is the likely demand situation during the next five years?(7) High inventory levels in Q4 2010 According to iSuppli the semiconductor suppliers inventories reached the highest levels in two and a half years during the fourth quarter of 2010. If the the semiconductor industry growth slows in 2011, this could bring troubles to the companies. (Stiefel, 2011) This is another example of the cyclicality and weak predictability of the industry. Joona: Could we somehow combine this with the previous section. More predictions needed. My best guess is that the industry is going to end up in a somewhat stable situation. 2010 was a boom because of the recession 2008-2009 and low inventory levels. ************** Future : http://isscc.org/doc/2010/ISSCC2010_TechTrends.pdf http://www.engadget.com/2011/02/19/intel-to-spend-5-billion-on-new-14nm-fab-in-arizona-creating-4/ Ravi: The fortunes of the semiconductor industries are ultimately tied to the demand of the end products. (Dirk Meyer, president and CEO of AMD, NDTV, interview) http://www.youtube.com/watch?v=dpDx7LPdhqsfeature=related   Semiconductor design and manufacturing facilities are strategic to our nations economic growth. However, our industry is faced with fierce global competition and our policymakers and regulators must ensure that we have balanced tax, regulatory and trade policies to allow our industry to continue to flourish in the U.S. and remain Americas largest export industry, Brian Toohey, President SIA concluded in 2010. http://www.sia-online.org/cs/papers_publications/press_release_detail?pressrelease.id=1869 Intellectual property is now much more perishable than ever before and there are too many challenges to solve alone. We must recognize that alliances in the early stages of technological innovation are imperative to achieving breakthrough results that will deliver against the top and bottom line. John Warlaumont, VP of Advanced Technolog http://www.sematech.org/corporate/annual/annual09.pdf

An Ecofeminist Perspective of Ridley Scotts Blade Runner Essay

An Ecofeminist Perspective of Ridley Scott's Blade Runner The science fiction film, Blade Runner, directed by Ridley Scott, first released in 1982 and loosely based on Philip K. Dick's novel, Do Androids Dream of Electric Sheep?,1 has continued to fascinate film viewers, theorists and critics for more than fifteen years. Writings include Judith B. Kerman's Retrofitting Blade Runner, a collection of academic essays;2 Paul M. Sammon's book on the making of the various versions of the film;3 and an extensive network of publications are available via the World-Wide Web.4 A student colleague has just seen the film for the eighteenth time. The "Director's Cut", released in 1992, is a more satisfying version of the film than earlier releases, mainly because narration is excluded, more mythological ambiguity is introduced (with the inclusion of a scene of a unicorn running through a forest), and the finalà © of an escape into nature is removed. In the context of Blade Runner's dystopia such an ending is incredible; for science fiction to succeed there needs to be plausibility within speculation. Since the Director's Cut, Blade Runner seems to have had a phoenix-like resurgence. Just as the simulated humans, or replicants, become more than the sum of their parts as they develop "humanity", so the film has become more than the sum of its parts as interaction - among critics and fans as well as scriptwriters, actors and film crew - contributes to ways of seeing. Scott describes depth in film as like a seven hundred-layer cake.5 Ideas presented in these layers can expand and deepen in the viewer's mind. The viewer's eye becomes as important for the ongoing life of the film as the eyes on which the camera focuses in Blade Runner.6 ... ...uiry into the Origins of Cultural Change, Blackwell, Cambridge MA, 1989, p.312. 15 The White Goddess: a historical grammar of poetic myth, Farrer, Straus & Giroux, New York,1984, p. 255. 16 Carson, op. cit., p.21. 17 Carson, op. cit., p.22. 18 Steve Carper, "Subverting the Disaffected City", Kerman, Retrofitting Blade-Runner op. cit., p.193. 19 Sammon. op. cit., p.6. 20 Guardian Weekly, July 20, 1997, p.24. 21 The New Internationalist, op. cit., p.17. 22 "The Soul of Science", Resurgence, September/October, 1997. No.184, p.9. 23 The Mercury, Hobart, Tasmania, Sept. 1. 1997. Co author Stephen Steigrad, Department of Reproductive Medicine at Sydney's Royal Hospital for Women, found that 276 families through four fertility units did not plan to tell their children that they were the product of artificial insemination with sperm from donors.

Use of Pathos in Writings on Torture Essay example -- Who Walk Away fr

Torture is a loaded word. It conjures images in a readers' mind of any number of horrors, physical and mental. Many writers rely on this reaction and use pathos in their articles to illicit a strong response in their audience. Pathos is an emotional appeal used to gain sympathy and trust from the audience and works for people of all intellectual levels. It often casts the author or characters in a story as an Everyman, easy to identify, and therefore see eye to eye, with. In my opinion, the more an author is able to create a personal connection to torture, the stronger their argument becomes. Strong emotions create a more appealing argument for an everyday audience. Michael Levin's â€Å"The Case for Torture† uses a few moments of pathos to convince the audience of the potential benefit of torture. He poses several scenarios of terrorists planning attacks on large numbers of innocent people and then asks, â€Å"If the only way to save those lives is to subject the terrorist to the most excruciating possible pain, what grounds can there be for not doing so?† Even if you don't agree with him, he urges the reader to â€Å"face the question with an open mind.† By doing this, Levin uses pathos as well as ethos to present himself as a nice guy who's not unreasonable. Though his argument is different from Levin's, Andrew Sullivan tries a similar approach in his article, â€Å"Bush's torturers follow where the Nazis led†. The article demonstrates a clear use of pathos from the beginning. Sullivan begins with some personal information about himself, showing that is is one of the regular people. His imagery is subtle but power ful. By implying that the government's behavior is in some way akin to the Nazis, he conjures up a powerful imagine in the readers min... ...Oct. 2008 . Ortiz, Sister Dianna. "Mr. President, stop the torture!" US Catholic Magazine Online. July 2004. 26 Sept 2008 news_iv_ctrl=1341&abbr=usc_&JServSessionIdr001=anotsvvjc1.app45a> Ortiz, Sister Dianna. "Speak Truth to Power Defender – Interview with Dianna Ortiz." Speak Truth to Power. 26 Sept 2008. . 26 Sept 2008. Sullivan, Andrew. "Bush's torturers follow where the Nazis led." Times Online. 7 October 2007. 23 Sept 2008 andrew_sullivan/article2602564.ece> Porter, Henry. "America's Dirty Torture Secret." The Guardian. 10 Sept 2003. 1 Oct 2008 .

‘Lady Lazarus’ by Sylvia Plath. Essay

The poem ‘Lady Lazarus’ gives us an insight into the troubled life of the poet Sylvia Plath. She lost her father at an early age. Supported solely by her mother she went through a very rough childhood. In fact, Sylvia Plath escaped a near fatal accident in her childhood and went on to attempt suicide twice in the following years of her life. In the poem, Plath lets her emotions flow and sheds light on her distress. In this poem, Sylvia Plath uses Holocaust imagery extensively. The Holocaust, as is widely known, refers to the inhuman torture and exploitation of the Jews by the Nazis. The first mention of the gruesome Holocaust comes in the form of a comparison between herself and a Nazi lampshade. Unbelievable as it may seem, the Nazis used the skins of the Jews to make lampshades. Plath feels that she has been used in a similar manner. Throughout her life Plath had been in and out of hospital. So much so that she felt like an object on display; a mere, inconsequential living thing on which the doctors happily carried out various experiments. The Nazis used to take away all valuable articles from the Jews, including expensive fabrics like linen. Plath refers to her skin as Jew linen, again indicating that she was used as an object. Plath suffered a nervous breakdown in her childhood. To cure her, doctors had no choice but to use shock treatment, subjecting her to unbearable pain in the process. In the poem, Plath uses the word ‘charge’ which has a pun on it, referring to the brutal pain inflicted on her by the doctors. In this instance, a parallel can be drawn to the inhuman torture experienced by the Jews. In the poem, Plath refers to herself as a ‘valuable’ and a ‘pure gold baby’, which is again an example of Holocaust imagery. It is widely believed that the Nazis were so cruel that they not only used the Jews to do physical work but also used their bodies to make objects like soap. Their golden teeth were plucked out and melted to make valuables such as wedding rings. Their corpses were then burnt to erase all trace of their existence. The mention of all this in the poem makes us believe that Sylvia Plath considered herself to be stifled, oppressed and exploited, just like the Jews. Finally, a striking similarity is noticed in the manner in which Plath chose to end her life and the methods used to exterminate the Jews. The Jews were killed in gas chambers where poisonous gases devoured their internal organs. Plath committed suicide by putting her head inside an oven, and died as a result of gas poisoning. In my opinion this was perhaps because she felt herself so alike the Jews that she preferred to end her life in the very same manner. Thus, we can safely conclude that Holocaust imagery forms a significant part of Sylvia Plath’s poem ‘Lady Lazarus’. b) After critically analyzing the poem, the Holocaust imagery which has been used widely, seems fairly effective in conveying the poet’s message. It is clear from the poem that Sylvia Plath felt she has been driven to suicide by society as a whole. Evidently, she believed that life had been too unfair to her. This feeling stems from her childhood, when she lost her father. This horrific incident left a gaping void in her life. A major part of her moral support had been cruelly snatched from her. To add to this, Plath had a pitiable medical record. She made frequent visits to the hospital throughout her life. The excruciating shock treatment she received shook her completely. Once Plath got married, her personal life suffered even more. Her husband had been unfaithful to her, further aggravating her pitiable condition. Overall, Plath’s life was depressing to say the least. Plath was consumed by self-pity throughout her life. In this regard, the Holocaust imagery used by Plath is very effective and appropriate. It reminds us of history’s most vicious tale of cruelty. This justifies its use to depict Plath’s life. However, in other respects, the Holocaust imagery cannot effectively portray Plath’s life. An important reason being that the Jews always had the will to survive. They were members of an affluent community who were stripped off all their possessions by the Nazis. Plath on the other hand had attempted suicide twice. This is a glaring difference between Plath’s life and the Holocaust, making it quite ineffective in conveying her message. Another important difference is that the Holocaust was a planned genocide which involved the death of approximately six million people. Plath’s comparison seems quite irrelevant in this aspect, as she talks about the death of a single person (herself). Finally, one of the most important differences is that Plath considered death to be a performance. At the end of the poem, Plath says that she was about to rise like a phoenix, referring to her own death. To her, attaining death was like being resurrected, as she would be freed from her troubled life. Plath believed death to be a means of attaining victory over life. She clearly mentions that when she survived her second suicide attempt, it was a theatrical comeback. In comparison, the Holocaust was only about forcing people into giving up their lives. Thus, in my opinion, taking these factors and many more subtle differences onto consideration, the Holocaust imagery is fairly effective in conveying Plath’s message.

Lydia Peelle †Mule Killers Essay

In this short report card Mule Killers by Lydia Peele we meet triplet generations of a family, grand baffle, pay back and boy as well as the different women in the bilgewater. The report card is told in present time by the parole as a first person narrator, but almost everything in the write up is a flashback of the fathers base about his youth.The fabrication is constructed in parts you pull out introduced to the lives of the father and the grandfather with no introduction of what has happened before, and then, the story jumps to the end in the present, without letting the proofreader know what has happened in between and what will probably happen after the story ends. The story takes place on a farm on the countryside near capital of Tennes enamor in the Southeast of United States. though the story, you get an impression of an isolated hostel where the church is central and people has got low-key and ordinary lives while they work fleshy to make a living from their farms.The linguistic communication in Mule Killers is observing, which we can see in the description of Eula ()her hair brush up off her neck, thick purple-black and shining, the different girls hanging limply down, onion paper pale() In the story we hear the father tell the son about the events that changed their lives how he met the mother of his son and to a fault had to give up on his dreams of love and how the lovestory of what should have been innocent rancid out to be the thing that make his future.The tragic love story represents the management the farmland was changed in the future. Firstly, the shift from mules to tr hazardors in the farming symbolises several things. For the grandfather, the shift to tractors and the followers accident marks a impertinently time that he does not consume and he does not take him. This we get an example of in this line youre gonna see a future I cant even load my mind around. Not any of it. I cant even put down to imagine. For th e father, the loss of his mule Orphan, which was one of the things that he really cared about represents the end of his childhood. The mules is a symbol of the future and the killing of them is a bad sign for the future and likewise is the point of no return in this short story. The shift from child to grown-up is the primary(prenominal) theme in this story, but also the fathers struggle to live up to his fathers ideals of what a man is, is an distinguished aspect in the story.In his trying to be and act like a grown-up he supresses his fears and his lugubriousness and also the things he love melody and the mules. So its like he cannot cultivate these interests any longer. Another important theme in the short story is time. During the story you get a sensation of time passing by. The father goes from creation a young man to having a son, who is twice as old as the father was when the son was born, the farming changes and goes from utilize mulls to tractors.

Critical Analysis on Sonnet 12 by William Shakespeare Essay

William Shakespe be wrote a group of 154 praises between 1592 and 1597, which were compiled and published chthonic the title Shakespeares Sonnets in 1609. Our tutel beat will focus on sonnet 12, a remarkable and poignant rime closely the relentless passing of date, the fade beauty, immortality, conclusion and Old season, these subjects universe distinctive of all Shakespeares Sonnets.Time is ubiquitous in e precise unrivalleds aliveness, just passing and passing inexorably, relentlessly, so unstoppable. It is a comprehensive problem people meet perpetually been very worried slightly condemnation, essay to gain some, or angry they take lost this precious element. Moreover, Time is silver, maxim born in the argument sector, is now an adage applied in all matter. But still, it is not attainable to lose or gain time it is above people, nobody has control on it. This is what Shakespeare tells us in this sonnet.Shakespeares sonnets go intot fox a fall inicular proposition title, only named by a number. Here, it is 12, and for for certain this number has not been given by chance, being a modal value to cite to time the dozen hours of a day, the twelve hours of a wickedness.What is more, just by perceive it, without understanding the words, it is possible to guess that it is about time. Shakespeare has employ an iambic pentametre, which the alternation of strong and wispy rhythms reproduces the ticking of the clock, displaying the passing of time. Furthermore, the carriage in which the meaning of the simple eye finishes with the rescue itself, with punctuation such as comma and semi-colon at the end of each follow, is handle the unappea dismal motion of a pendulum as it beatniks from side to side. The fact that each groove contains ten syllables contri thates as well to this conceit of regularity and time.We should likewise mention the nominal head of alliterations like c and t attract 1 (count, clock, that, tells, time ), imitating the ticking of the clock, and the repetition of consonants like p line 3 (past, summit), or s and g line 7 ( spends, green, girded, sheaves), b line 8 (borne, bier, briary, beard), without kiboshting the sibilance line 11 (since, sweets, beauties, themselves, forsake). These alliterations slow down the sonnet and give it a measured rhythm, drawing off the reader in an diabolic cycle, in a lethargic state.We shadow preserve the commission the subject is developed by looking at the devil chief(prenominal) phases in this sonnet the scratch line octonary lines are a phase of observation, plain we perceive how disposition fades and dies, how time passes, as nothing grass be with once morest it. But consequently, in the second part, Shakespeare opens up his past observation that was on nature in an examination based on gentlemans gentlemans. Nevertheless, these two phases are very similar, crack the aforesaid(prenominal) message to the reader time is d evastating and invincible.But before presenting these two main phases, we should not forget to finespun that in each of these parts, a cashier appears, speaking at the first person, convey to the pronoun I, line 1, 3, 5 and 9. The top dog coming immediately in our brainiac is who is hiding behind this I and who is this I addressing to ? I do not fuck whether Shakespeare has created a character, or if he is rattling expressing his time period of view through the sonnet, except if he does so, we can observe that he adopts a different opinion in sonnet 18.T herefore, in sonnet 18, he promises his addressee he will be enterd through the sonnet itself so long lives this, and this gives feeling to thee, while in sonnet 12, he believes procreation to be the only way to live forever save mental strain to brave him when he takes thee hence. Officially, the first 156 sonnets are addressed to a solemn young man, melt somewhat the amorous image all people consume about Shakesp eare and his works.Now that we take aim talked about the sender and the receiver, let us cut down on the different images, symbols and statements delivering the message.The first part of this poesy describes nature. Indeed, the bank clerk is exposed date out the clock chimes giving by the way an audible sound to the reader -, and the narrator appears very passive and resigned he seems to greet that time cannot be fought, waiting for it to pass, in a submissive manner. In the same way, the day looks already defeated, but it tries, dissimilar the I, to fight, as suggest the adjective brave, introducing a notion of combat. However, this is not the only meaning of this word, brave being polysemic it has almost a visual significance, evoking twinkle and gallantry. Thus, Shakespeare joins an attracting adjective to the day, to closingly strike it appear correct more dangerous and pathetic, thanks to terrible night. This adversary between brave day and hideous night empha sizes the days impuissance against the night, literally sinking in the night. This verb, sink, represents a long action and gives us the topic that we cannot discern the limits between day and night, we cannot point out this is day, this is night.It is something we are not mindful of, we cannot see happening, until night has completely taken the place. This domination and forlorn fight could imply, by extension, that any splutter in life is a fruitless task. The violet is also under time control it is once at its prime state, at springtime best, being exemplary of Spring and new fireth, but then soon fades and dies. Here is presented the decaying of nature and furthermore of human, as violet is like a human being once at its prime, then dying. Shakespeare presents us the same strain of image in the next line, describing sable curls, namely dark hair, having turned unclouded due to the age. This word sable brings nobility, curiosity and softness to the curls, but then is even more put down as it is more precious -, by the whiteness. tramp this description, it is the youth coming to darkened age which is depicted. Barren of leaves, line 6 indicates us what period the poem is describing the autumn, season of death and sadness.The trees, which used to be tall and shocking lofty, are now defoliate all that remains are strip branches. Shakespeare is also suggesting that they are useless, while they used to have a significant quality to protect the herd from the heat of the sun. Thus, it suggests again the fact that everybody, even the more noble one, will fade one day, that the damaging process of age does not forget anyone, and that old people are useless. We can discover another image press on the idea that the passing of time leaves you with nothing, line 7 and 8. By an rural image the sheaves of corn growing during the summer and being tied carried away on a bier, Shakespeare actually represents death the final stage -, with the shea ves in the coffin which can be associated with an old person in a coffin white and bristly beard.All these images denoting Nature have actually been used as examples to adorn Shakespeares views on time and the human being. In a second phase, the sonnet expresses the idea of human beauty fading as the timepasses, but also of the renewable cycle, of a continuous mutation, of the never-ending presence of a next generation. Basically, on that point is no way escaping Times scythe line 13, except having children. other important subject in this poem, alike linked up with time, is immortality. It is possible to tactual sensation how this relentless passing of time is a very serious issue for the narrator, impact his mind, as he is trying to find a solution to this problem. Thus, we get aware of the consequences of time, making people grow old white and bristly beard line 8 since sweets and beauties do themselves forsake line 11. The narrator draws our attention on the infernal c ycle of life and die as fast as they see others grow line 12, and probably wants to denounce the horizon of immortality all young people have in themselves, thinking they will always stay young and have their altogether life in front of them forever. beingness a teenager, I have this sense of smell too how could I imagine, being fifteen, that I will be seventy one day ? However, like Shakespeare suggests in this sonnet, life is a cycle, people dying as fast as others grow. The solution offered here in the rhyming couplet is to have children to be immortal.One must rent that the narrator is absolutely right, children representing a witness of youth, and a way of printing his pes on the earth. By giving birth to a child, people are sure they will live in persons mind forever, and be mentioned as the time passes by the family, thanks to genealogic trees for instance. Moreover, parents bring up their children in their way they pass values and rules on to them, but also a na me and a way of thinking and living. However, it cannot be denied that there are other methods to remain alive, to immortalize his existence on earth, like accomplishing a great action skilful or bad or writing an autobiography.I have liked this sonnet very much, for the form represents and illustrates the meaning in a brilliant way. It was also very raise to, step by step, analyze this poem to finally have a good understanding of it, while it was almost mystical at first. Death, the passing of time, the Old Age and the desire of immortality are universal themes which stirred everybody, and have, them, crossed the time.

Only the Strong Survive

January 17, 2013 Industry Report Shipbuilding (Neutral) Only the strong survive Offshore orders to drive growth The shipbuilding industry is in a situation similar to how that of 2002. In 2013, plunging order volume and weak new building prices are fueling intensifying competition. In 2002, shipbuilding shares rose because of an increase in orders, but then quickly fell on concerns over weak new building prices, which caused earnings to stagnate. For a period in 2002, shipbuilders went into red.Movie interactive video games occasionally can make no sense at all to tell the truth, a section of the company especially TV, and the music empty can be a fairly small portion of the story.Daewoo Securities Co. , Ltd. Ki-jong Sung +822-768-3263 kijong. [email  protected] com Ryan Kang +822-768-3065 ryan.Youre in need of a leader of culture if youre new beginning an agency.

Although shipbuilding shares currently trade at a P/B of 1. 0x, we believe they have the potential trade at a P/B of 1. 2x.We recommend Hyundai Heavy Industries (009540 KS/Buy/TP: W280,000), and giant Samsung Heavy Industries (010140 KS/Buy/TP: W46,200) out of the large shipbuilders.Respect and seeing possible is.share price of major shipbuilders (R) (1/31/2005=100) 1,000 6,000 800 600 2,000 400 -2,000 200 -6,000 05 06 07 08 09 10 11 12 13F 13 14 14F 0 Source: KDB Daewoo Securities Research Analysts who prepared this report are registered as research analysts in Korea but not in any other jurisdiction, including the U. S. January 17, 2013 Shipbuilding Figure 1. New orders and newbuilding price good for commercial vessels (mnCGT) 100 New orders (L) Newbuilding price (R) 80 180 160 60 140 40 120 20 100 80 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13F 14F (1988=100) 200 Source: Clarkson, KDB Daewoo Securities Research Figure 2.You should have a feeling of self pride.

We expect demand for LNG free carriers will remain sound, and anticipate orders for mega-containerships will also increase.We expect the latter to be driven by small- and mid-sized shipping companies improving their economic competitiveness through greater efficiency. We also expect shipbuilders will be forced to take new orders at lower-than-normal prices because of the dearth of order backlogs for commercial vessels. We forecast the number of bids and orders for large offshore-plant construction projects to increase for each company in 2013.Let your much joy scream.We believe share prices will improve (despite concerns about lower-priced orders) thanks to increasing orders, and improved cashflow. Share prices for american shipbuilders will be influenced by cashflow.Despite intensifying market competition, we anticipate Hyundai Mipo Dockyard will take an increasing amount of orders, even though some will be lower-priced. 3.Many people think tattoos for men will need to be fero cious and tough.

We expect these trends will continue in 2013. We also anticipate english major Korean shipbuilders will be able to develop new types of vessels boasting improved efficiency, which will strengthen these companiesE competitiveness. Risk factors Earnings at shipbuilders will not recover easily, due to orders at lower-than-normal prices and won appreciation. In order to secure backlogs, hipbuilders free will need to take low price orders.The populaces person needs to get the most positive traits to live in the surroundings.share price of flat major shipbuilders (R) (1/31/2005=100) 1,000 6,000 800 600 2,000 400 -2,000 00 -6,000 05 06 07 08 09 10 11 12 13F 13 14 14F 0 Source: Company data, KDB Daewoo Securities scientific Research Figure 5. Korean and Chinese shipbuildersE restructuring (No. of shipuilders) 200 Korea China 160 197 120 -88. 3% 80 40 24 23 -66.The intention isnt to humiliate or belittle anyone.

In addition, the ROE of shipbuildersE is projected to improve to 19%. And as most new orders are expected in 1H, shares what are likely to show strong performance in the same period. The relative share performance of global shipbuilders has changed. Thanks to the rising proportion of offshore orders, Korean shipbuilders and Hyundai Mipo Dockyard are now grouped together with Keppl Corp.Theres a good deal of variety, to simulate real social life conditions.Although we believe the shares have bottomed, we do not expect a long term recovery until new building prices rebound in earnest. We suggest accumulating the shares near a P/B of 1. 0x. Shipbuilding shares will likely begin to recover full-swing from 2014, when the market starts to turnaround, along with increased orders for commercial vessels, improved cashflow, and earnings recovery.Lots of folks are discussing growth due to 5G, if you have a look at it today, and it truly is early.

0x 30 20 30 1. 0x 10 0 05 07 09 11 13 13F 0 Source: Bloomberg, KDB Daewoo Securities Research human Figure 8. Relative share performances of major shipbuilders (-1Y=100) 150 140 130 120 110 100 90 80 70 60 1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12 1/13 HHI DSME HMD Guangzhou new Shipyard Keppel Corp. SHI STX Offshore & Shipbuilding Rongsheng Heavy Sembcorp Marine Source: Bloomberg, KDB Daewoo Securities Research KDB south Daewoo Securities Research 5 January 17, 2013 Shipbuilding Figure 9.Then will humanity be changed at the Kingdom of Gods region.0x 2. 5x 2. 0x 1. 5x 1.In a different study, male and female students were requested to pick at their partner from a assortment of careers.

0x 4. 0x central Figure 14. Hyundai Mipo DockyardEs P/B trend (Market cap,Wbn) 10,000 2. 5x 8,000 1.They find it extremely hard to forgive an event.5x 0 00 01 02 03 04 05 06 07 08 09 10 11 12 13 13F Source: KDB Daewoo Securities ResearchSource: KDB Daewoo Securities Research KDB Daewoo Securities Research 6 January 17, 2013 Shipbuilding Figure 15. Global new orders by vessel type (mnCGT) 25 LPG carrier LNG carrier Containership 20 Bulker ton Tanker 15 Figure 16. Newbuilding prices by vessel type (US$000/TEU) 30 Containership (L) Tanker (R) Gas carrier (R) Bulker (R) (US$000/DWT) 3 20 2 10 10 5 1 0 03 04 05 06 07 08 09 10 11 12 0 04 05 06 07 08 09 10 11 12F 12 13F 13 0 Source: Clarkson, KDB Daewoo Securities Research Source: Clarkson, KDB Daewoo Securities Research Figure 17. ROE-P/B comparison (P/B ,x) 3.Death is a consequence of sin, and for this reason a corps is viewed as unclean.

0 0 5 10 15 20 HMD S HI 15 Keppel 10 S HI Sumitomo Sembcorp HHI 5 (EPS growth, %) 0 -40 -30 -20 -10 0 10 20 30 40 Source: Bloomberg, KDB Daewoo Securities Research Source: Bloomberg, KDB Daewoo Securities Research Figure 19. Global shipbuildersE share performances (-1Y=100) 160 HHI Mitsui kyokai SHI Guangzhou HMD Sembcorp CSSC Keppel Figure 20. KOSPI and shipbuilding stock index (index) 8,000 Shipbuilding stock high index KOSPI 140 6,000 120 4,000 100 2,000 80 60 1/12 3/12 5/12 7/12 9/12 11/12 1/13 05 06 07 08 09 10 11 12 Source: Thomson Reuters, KDB Daewoo Securities Research Source: KDB Daewoo Securities Research KDB Daewoo Securities Research 7 January 17, 2013 Shipbuilding Hyundai Heavy Industries (009540 KS) best Buy (Maintain) Target Price (12M, W) 280,000 Share Price (01/16/13, W) 227,500 Expected Return (%) 23. 1 EPS Growth (13F, %) 17.Its never simple to turn down.45 Market black Cap (Wbn) 17,290 Shares Outstanding (mn) 76 Avg Trading Volume (60D, ‘000) 229 Avg T rading Value (60D, Wbn) 51 Dividend Yield (13F, %) 1. Free Float (%) 59. 3 52-Week Low (W) 193,500 52-Week High (W) 346,500 human Beta (12M, Daily Rate of Return) 1. 46 Price Return Volatility (12M Daily, %, SD) 2.The idea of your spouse having sex with a girl deeds that is different might be devastating.

36%) NPS (5. 08%) Price Performance (%) 1M 6M 12M Absolute -1. 7 -3. 8 -20.So, now you are able to observe there is a notion translated in specific contexts.7bn and revenues of W26. 9tr (non-consolidated) in 2013 Implemented a self-rescue plan for the first time in 40 years. Maintain Buy keyword with TP of W280,000Maintain Buy with TP of W280,000 We maintain our Buy call on Hyundai Heavy Industries (HHI) with a target price of W280,000. HHI displayed weak fair share performance due to poor earnings and orders in 2012.0x, the lowest levels in the companyEs peer group.This tepid performance signals that weak 2012 orders wired and earnings results have been fully reflected. However, HHI has strong investment merits in 2013, as it is projected to win massive orders. Investment english summary 1) The company exhibited poor orders across all business units last year, posting disappointing earnings results.

5bn) and the Brass LNG project (US$3. 5bn) in 1Q. In addition, HHI is expected to bid for additional projects worth US$1-4bn; indeed, we believe the company will be aggressive in its order-taking efforts. 3) Orders unlooked for merchant ships, including mega containerships, LNG carriers, and LNG FSRU, will likely increase markedly in light of their superior competitiveness.Share price 130 120 110 100 90 80 70 60 1/12 5/12 9/12 1/13 KOSPI Earnings & Valuation Metrics FY 12/10 12/11 12/12F 12/13F 12/14F Revenue (Wbn) 37,342 53,712 54,741 58,433 63,025 OP OP Margin (Wbn) (%) 5,532 14. 8 4,536 8. 4 2,485 4. 5 3,331 5.7 7. 6 22,750 3,469 -2,260 10. 2 10. 6 26,750 4,320 2,005 11.5 1. 3 1. 1 1. 0 0.

2 5. 2 Notes: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates korean Daewoo Securities Research 8 January 17, 2013 Shipbuilding Hyundai Heavy Industries (009540 KS/Buy/TP: W280,000) Comprehensive Income Statement (Summarized) Wbn) Revenues Cost of Sales late Gross Profit SG Expenses Operating Profit (Adj) Operating Profit Non-Operating Profit Net Financial Income Net Gain from Inv in Associates Pretax gross Profit Income Tax Profit from Continuing Operations Profit from Discontinued Operations Net Profit Controlling Interests Non-Controlling Interests Total Comprehensive net Profit Controlling Interests Non-Controlling Interests EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating Profit Margin (%) Net Profit Margin (%) 12/11 53,712 46,784 6,927 2,392 4,536 4,536 -659 52 -148 3,876 1,133 2,743 0 2,743 2,559 184 2,617 2,498 118 5,473 -504 10. 8. 4 4.4 5. 7 3. 5 12/14F 63,025 56,408 6,618 2,836 3,782 3,782 -338 188 -150 3,444 895 2,549 0 2,549 2,449 100 2,288 2,178 110 4,768 2,297 7. 6 6.5 7. 1 5. 6 6. 8 5.0 0. 9 5. 3 8. 5 6.

1 10. 0 1. 6 0. 0 1.7. 9 -13. 5 -36. 6 24.0 13. 5 -38. 4 -32. 4 17.1 6. 1 9. 3 8. 2 8.

7 5. 8 5. 7 3. 7 4.1 12. 2 17. 3 7. 8 10.0 134. 5 90. 5 110. 6 118.1 22. 7 15. 7 6. 0 7.

1 P/E (13F, x) 9. Market P/E (13F, x) 9. 0 KOSPI 1,977. 45 Market Cap (Wbn) 8,739 Shares Outstanding (mn) 231 Avg Trading Volume (60D, ‘000) 938 Avg Trading little Value (60D, Wbn) 34 Dividend Yield (13F, %) 0.0 Major Shareholder(s) Samsung Electronics et al. (24. 42%) Treasury shares (6. 13%) Mirae Asset Global Investment (5.8 -4. 5 6. 0 Reliable again in 2013 ? ? ? 2013 orders and revenues forecast at US$14. 2bn and W14.We expect SHI to win massive orders of US$14. 2bn despite the slump in the global shipbuilding market, driven by the robust offshore plant market and the companyEs superior competitiveness.SHIEs shares are trading at a 2013F P/E of 9. 4x logical and a P/B of 1.

As such, the company has solid earnings relative to its competitors. 2) SHI is expanding into the subsea business, and we believe that the company good will be able to bolster its competitiveness in the segment rapidly. ) The commercial vessel unit, which exhibited a tepid performance last year, is likely to recover in 2013 thanks to: 1) rising mega containership orders and 2) steady orders for LNG carriers and LNG FSRU. 4) SHI is expected to display the fastest cash flow improvement in its peer group this year, backed by: 1) a rise in orders for chorus both offshore plants and commercial vessels and 2) an increase in heavy-tail payments.7 851 1,226 8. 2 929 1,198 8. 0 934 1,355 8. 6 1,015 EPS EBITDA FCF ROE (Won) (Wbn) (Wbn) (%) 4,330 1,504 598 28.9 P/E (x) 9. 5 7. 6 9. 6 9.5 1. 3 1. 1 EV/EBITDA (x) 8. 2 5.

9 8. 7 6. 4 12/12F 14,875 12,867 2,008 766 1,242 1,226 -30 -34 0 1,196 267 929 0 929 929 0 920 920 0 1,551 282 10. 4 8.2 12/14F 15,751 13,594 2,158 803 1,355 1,355 -19 -51 0 1,336 321 1,015 0 1,015 1,015 0 1,006 1,006 0 1,667 978 10. 6 8. 6 6. 5 Statement of Financial Condition (Summarized) Wbn) Current Assets Cash and Cash Equivalents AR & Other Receivables Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant and Equipment Intangible Assets Total other Assets Current Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities Total Liabilities Controlling Interests Capital live Stock Capital Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 9,617 806 4,132 540 1,905 6,797 0 5,408 86 16,414 10,539 4,425 3,232 2,883 1,231 1,004 88 11,770 4,644 1,155 423 3,610 0 4,644 12/12F 9,112 1,115 3,793 550 1,711 6,316 5 5,434 38 15,428 7,758 3,882 1,570 2,306 2,213 1,881 138 9,971 5,457 1,155 423 4,430 0 5,457 12/13F 9,229 1,264 3,820 554 1,648 6,372 5 5,506 21 15,601 7,301 3,910 1,070 2,322 1,918 1,481 188 9,219 6,382 1,155 423 5,364 0 6,382 12/14F 9,720 1,445 4,017 583 1,733 6,439 5 5,573 13 16,159 7,223 4,111 670 2,442 1,656 1,081 271 8,878 7,280 1,155 423 6,272 0 7,281 Cash Flows (Summarized) Wbn) Cash Flows from Op Activities Net Profit Non-Cash Income and Expense Depreciation Amortization Others visible Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other Payables Income general Tax Paid Cash Flows from Inv Activities Chg in PP&E Chg in Intangible Assets Chg in Financial Assets several Others Cash Flows from Fin Activities Chg in Financial Liabilities Chg in Equity Dividends Paid Others Increase (Decrease) in Cash Beginning Balance Ending Balance 12/11 1,341 1,150 189 294 78 75 549 1,284 150 164 -548 332 -242 -1 309 265 -1,306 -1,090 1 -108 - 109 359 447 806 12/12F 351 1,131 558 297 11 -268 -1,061 34 39 -541 -276 -274 -368 -1 3 92 240 416 1 -108 -68 309 806 1,115 12/13F 1,376 934 580 299 17 -50 130 -27 -4 27 -268 -310 -370 -1 0 61 -917 -900 0 -108 -17 149 1,115 1,264 12/14F 1,408 1,015 651 302 10 -50 62 -197 -29 201 -321 -307 -370 -1 0 64 -921 -800 0 -108 -13 181 1,264 1,445 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) EBITDA Growth (%) Operating Profit Growth (%) EPS rapid Growth (%) Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) Liability to Equity Ratio (%) Current same Ratio (%) Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 7.7 1. 8 1. 9 -3. 3 -19.2 4. 8 19. 4 15. 5 253.

6 7. 2 1. 5 6. 1 4,021 5,358 26,307 0 0.7 9. 1 3. 8 27. 3 3.7 117. 5 7. 2 57. 9 12/13F 9.6 0. 0 0. 7 -2. 4 -2.

0 6. 0 15. 8 16. 9 144.6 6. 6 1. 1 4. 5 4,396 5,747 34,309 0 0.0 8. 7 4. 1 27. 7 4.9 134. 6 -22. 5 106. 2 Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities Research 11 January 17, 2013 Shipbuilding blue Hyundai Mipo Dockyard (010620 KS) Buy (Maintain) Target Price (12M, W) 148,000 Share Price (01/16/13, W) 125,000 Expected Return (%) 18.

0 KOSPI 1,977. 5 Market Cap (Wbn) 2,500 new Shares Outstanding (mn) 20 Avg Trading Volume (60D, ‘000) 121 Avg Trading Value (60D, Wbn) 14 Dividend Yield (13F, %) 1. 6 Free Float (%) 51. 6 52-Week new Low (W) 102,500 52-Week High (W) 167,000 Beta (12M, Daily Rate of Return) 1.4%) NPS (7. 38%) Price Performance (%) Absolute Relative Shining in the dark ? ? ? 2013 target: US$3. 2bn in orders and W3. 6tr in revenues Stands to benefit most from industry restructuring Maintain Buy and TP of W148,000 Maintain Buy and TP of W148,000We maintain our Buy recommendation on Hyundai Mipo Dockyard (HMD) and our target price of W148,000.4tr; 8. 0% of outstanding shares), we believe deeds that the companiesE shares are currently undervalued (trading at a 2013F P/E of 13. 1x and a P/B of 0. 9x).3) In the small- to mid-sized merchant ship market, the product carrier (P/C) segment, in which HMD has the strongest competitive edge, is expected to be relatively robust in 2013. ) If the shipbuil ding market remains in a slump for a protracted period of time, HMD should be able to widen its gap with its peers. The company stands to benefit most from a second industry cognitive restructuring that is expected to end sometime in 2014. 1M 2.

6 5. 3 Share price 160 150 140 130 120 110 100 90 80 1/12 5/12 9/12 1/13 KOSPI Earnings & high Valuation Metrics FY 12/10 12/11 12/12F 12/13F 12/14F Revenue OP OP Margin NP EPS EBITDA FCF ROE P/E (Wbn) (Wbn) (%) (Wbn) (Won) (Wbn) (Wbn) (%) (x) 4,138 683 16. 5 493 24,629 741 431 14. 7 9.9 131 6,556 192 -563 4. 3 19. 4 4,624 191 4. 1 190 9,518 256 397 6.6 P/B EV/EBITDA (x) (x) 1. 2 4. 4 0. 8 4.6 0. 8 6. 0 Notes: All figures are based on consolidated K-IFRS; NP refers to neural net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates Daewoo Securities Research 12 January 17, 2013 Shipbuilding Hyundai Mipo Dockyard (010620 KS/Buy/TP: W148,000) Comprehensive Income Statement (Summarized) (Wbn) Revenues Cost of Sales Gross Profit SG medical Expenses Operating Profit (Adj) Operating Profit Non-Operating Profit Net Financial Income Net Gain from Inv in Associates Pretax Profit Income Tax net Profit from ContinuingOperations Profit from Discontinued Operations Net Profit Controlling Interests Non-Controlling Interests Total Comprehensive Profit Controlling Interests Non-Controlling Interests positive EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating Profit Margin (%) Net Profit Margin (%) 12/11 4,624 3,975 649 272 378 378 -63 -24 0 315 112 202 0 202 200 3 -821 -823 2 441 -633 9. 5 8.

0 12/13F 4,624 4,143 481 290 191 191 52 -9 -2 243 58 185 0 185 190 -5 185 194 -9 256 397 5. 5 4. 1 4. 1 12/14F 4,855 4,321 534 304 230 230 73 -10 -2 303 73 230 0 230 235 -5 230 239 -9 293 416 6.4 13. 1 10. 6 8. 5 12.0 0. 9 0. 8 4. 2 13.9 20. 6 16. 6 1. 8 1.

8 5. 0 5. 0 -40. 5 -56.8 52. 2 20. 3 -59. 4 -34.2 3. 9 5. 0 18. 1 17.2 3. 8 3. 8 2. 3 1.

3 6. 4 7. 4 53. 8 8.8 162. 5 146. 2 105. 6 111.9 -16. 9 -27. 9 689. 5 45.1 P/E (13F, x) Market P/E (13F, x) 9. 0 KOSPI 1,977. 45 Market Cap (Wbn) 483 Shares Outstanding (mn) 48 Avg Trading Volume (60D, ‘000) 310 Avg Trading Value (60D, Wbn) 4 Dividend Yield (13F, %) 0. 0 Free Float (%) 62.

38%) KB Asset Management (5. 13%) Price Performance (%) 1M Absolute -23. 4 Relative -22. 5 Unlikely to weather domestic market slump ? ? ? Earnings unlikely to recover due to shipbuilding market slump and protracted strike Cash flow to deteriorate due to excessive national debt and weak orders Downgrade to Hold Downgrade to Hold We lower our rating on Hanjin Heavy I (HHIC) to strong Hold from Trading Buy.Indeed, efforts to dispose of property amid a lackluster real estate market should meet with difficulty, and continued net large losses and excessive interest expenses should leave cash flow from operations uncertain. Risks ) The commercial vessel unit at the Youngdo shipyard is unlikely to recover. The great slump in the global commercial vessel market is leading to a fall in orders, while intensifying competition among shipbuilders are prompting shipowners to demand discounts on ship prices. .Indeed, the company needs more capital to engage in the development project near the Incheon port. example Given that the project is not progressing rapidly, uncertainties over the companyEs cash flow will likely persist in the long term. 5) HHIC holds massive debt (W2. 8tr).9 -54. 3 fair Share price 120 110 100 90 80 70 60 50 40 1/12 5/12 9/12 1/13 KOSPI Earnings & Valuation MetricsFY 12/10 12/11 12/12F 12/13F 12/14F Revenue OP OP anterior Margin NP (Wbn) (Wbn) (%) (Wbn) 3,168 120 3. 8 -72 2,892 108 3. 7 -97 2,547 63 2.

1 -2,123 148 243 -5. 7 -158 195 182 -0. 6 -466 184 146 -1. 8 P/E (x) P/B (x) 1.4 EV/EBITDA (x) 14. 5 19. 9 24. 0 16.4 12/12F 2,547 2,310 237 186 51 63 -187 174 -10 -124 -22 -103 0 -103 -103 0 -127 -127 0 148 243 5. 8 2. 5 -4. 0 12/13F 2,795 2,516 280 204 76 76 -89 159 -5 -13 -3 -11 0 -11 -10 0 -35 -34 0 195 182 7.7 -1. 1 Statement of Financial Condition (Summarized) Wbn) Current Assets Cash and Cash modern Equivalents AR & Other Receivables Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant and Equipment Intangible Assets national Total Assets Current Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities Total Liabilities Controlling Interests human Capital Stock Capital Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 2,392 854 917 361 237 4,645 66 3,144 89 7,037 2,483 811 1,603 69 2,6 87 2,317 329 5,170 1,864 241 644 814 2 1,867 12/12F 2,058 686 868 280 209 4,535 81 2,980 89 6,592 2,286 802 1,421 63 2,566 2,177 336 4,852 1,738 241 644 712 2 1,740 12/13F 2,077 617 925 294 228 4,487 76 2,871 89 6,564 2,384 895 1,421 69 2,369 1,977 338 4,753 1,809 346 644 701 2 1,810 12/14F 2,025 422 1,016 322 250 4,412 76 2,780 89 6,437 2,479 983 1,421 76 2,204 1,777 373 4,683 1,752 346 644 669 2 1,754 Cash Flows (Summarized) Wbn) Cash Flows extract from Op Activities Net Profit Non-Cash Income and Expense Depreciation Amortization Others Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other Payables Income Tax Paid Cash Flows from Inv economic Activities Chg in PP&E Chg in Intangible Assets Chg in Financial Assets Others Cash Flows from Fin other Activities Chg in Financial Liabilities Chg in Equity Dividends Paid Others Increase (Decrease) in Cash Beginning Balance Ending proper Balance 12/11 -228 -97 246 113 0 44 -379 -192 -42 -150 2 68 -15 0 -43 126 -106 91 1 0 -198 -262 1,116 854 12/12F 316 -103 265 97 0 16 131 23 77 33 22 9 -21 0 -14 44 -488 -297 0 0 -192 -168 854 686 12/13F 194 -11 206 120 0 25 -4 -57 -13 92 3 11 -10 0 0 21 -275 -200 105 0 -180 -70 686 617 12/14F 165 -33 216 101 0 25 -28 -91 -29 88 9 10 -10 0 0 20 -370 -200 0 0 -170 -194 617 422 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) visual EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) EBITDA Growth (%) Operating Profit Growth (%) EPS Growth (%) national Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) Liability to Equity Ratio (%) Current Ratio (%) neural Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 57. 4 0. 5 19.

9 -9. 8 RR 3. 3 8. 9 3.9 96. 3 163. 0 0. 5 12/12F -112.0 -11. 9 -25. 9 -41. 8 RR 3.7 1. 4 278. 9 90. 0 166.

9 -158 1,691 24,843 0 0. 0 0. 0 9. 8 31.1 -0. 2 -0. 6 2. 1 262.1 0. 4 18. 0 -466 989 24,030 0 0. 0 0.6 10. 0 4. 0 -0. 5 -1.

4 0. 5 Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities Research 15January 17, 2013 Shipbuilding Important Disclosures & Disclaimers Disclosures As of the publication date, Daewoo Securities Co. , Ltd. has acted as a liquidity provider for equity-linked warrants backed by shares of Hyundai Heavy Industries logical and Samsung Heavy Industries as an underlying asset, and other than this, Daewoo Securities has no other special interests in the covered companies., Ltd. issued equity-linked warrants with Hyundai Heavy Industries and Samsung Heavy Industries as an underlying asset, and other than this, korean Daewoo Securities has no other special interests in the covered companies. Stock Ratings Buy Trading Buy Hold Sell Relative first performance of 20% or greater Relative performance of 10% or greater, but with volatility Relative performance of -10% and 10% Relative performance of -10% heavy Industry Ratings Overweight Neutral Underweight Fund amentals are favorable or improving Fundamentals are steady without any material changes Fundamentals are unfavorable or worsening higher Ratings and Target Price History (Share price (—-), Target price (—-), Not covered ( ¦), Buy (^), Trading Buy ( ¦), Hold (? ), Sell (? )) * Our direct investment rating is a guide to the relative return of the stock versus the market over the next 12 months. * Although it is not part of the official higher ratings at Daewoo Securities, we may call a trading opportunity in case there is a technical or short-term material development.Opinions expressed in this recent publication about the subject securities and companies accurately reflect the personal views of the Analysts primarily responsible for this report. Daewoo Securities Co. , Ltd. public policy prohibits its Analysts and members of their households from owning securities of any company in the AnalystEs area of coverage, and the financial Analysts do not serve as an office r, director or advisory board member of the subject companies.except as otherwise stated herein. Disclaimers This report is published by Daewoo Securities Co. , Ltd. („Daewoo†°), a broker-dealer registered in the Republic of Korea and a member of the Korea Exchange.

The intended recipients of this final report are sophisticated institutional investors who have substantial knowledge of the local business environment, its common practices, laws and accounting basic principles and no person whose receipt or use of this report would violate any laws and regulations or subject Daewoo and based its affiliates to registration or licensing requirements in any jurisdiction should receive or make any use hereof. Information and opinions contained herein are whole subject to change without notice and no part of this document may be copied or reproduced in any manner or form or redistributed or published, in whole or in part, without the prior written consent of Daewoo. Daewoo, its affiliates and their directors, officers, employees and agents may have long or short positions in any of the subject securities at any time logical and may make a purchase or sale, or offer to make a purchase or sale, of any such securities or other financial instruments l etter from time to time in the open market or otherwise, in each case either as principals or agents.Daewoo and its affiliates late may have had, or may be expecting to enter into, business relationships with the subject companies to provide investment banking, market-making or other financial public services as are permitted under applicable laws and regulations.n the United Kingdom only to (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) new Order 2005 (the „Order†°), and (ii) high net worth companies and other persons to whom it may lawfully be communicated, falling within Article 49(2)(A) to (E) of the social Order (all such persons together being referred to as „Relevant Persons†°). This report is directed only at Relevant Persons. Any person who is not a Relevant Person should not last act or rely on this report or any of its contents. United States: This report is distributed i n the U.Securities Exchange Act of 1934. All U. S. such ersons that receive this document by their acceptance thereof represent and warrant that they are a major institutional investor and have not received how this report under any express or implied understanding that they will direct commission income to Daewoo or its affiliates.S. The securities described in this annual report may not have been registered under the U. S. Securities Act of 1933, as amended, and, in such case, may not be offered or sold in the U.