Charlie Chaplin :: essays research papers

When Charlie Chaplin was a little boy, a sheep escaped on its way to a slaughterhouse near where he lived. Charlie and other youngsters chased the sheep around, laughing and having fun. But when it was taken away, Charlie realized the sad finality of death and cried to his mother. That incident paved the way for the theme of Charlie’s future filmmaking career. Comedy mixed with pathos made perfect sense to him. He was also an everyman character, a lost soul, a wanderer - he embodied the American soul. He could be anyone. Chaplin was born Sir Charles Chaplin after his father on April sixteenth, 1989. His mother, Hannah Chaplin, was often put in mental houses and his brother Sydney and him were put into children’s workhouses. His father whom he almost never saw died of alcoholism. Charlie’s childhooCharlie directed and produced it. Its length is six reels, roughly an hour long. The Kid expertly showed Charlie’s use of pathos in his work, if perhaps too much pathos this time The Gold Rush. This 1925 film was a favorite of Chaplin’s. Charlie plays a lone prospector on a gold seeking quest in the Sierra Nevadas. Seeing shelter, he stumbles into a cabin where the villainous Black Larson lives. Black Larson doesn’t like this new guest and tells him to leave, rifle in hand. Charlie tries to leave, but a hilarious wind keeps blowing him back into the cabin. During this escapade in blows another luckier prospector, Big Jim McKay. Jim and Larson fight, and Larson goes off to find food for the trio. Meanwhile, the starving Charlie and Jim have the trademark meal of Charlie’s cooked boot. In this scene, Charlie eats the boot like it were a fine meal at a fine restaurant, twirling the laces around a fork like spaghetti. Later on they bid farewell, and Charlie finds a town with a love interest of his, Georgia. He invites her to a New Years Eve dinner, which she doesn’t come to. At the dinner, we see Charlie dozed off at the table, and he dreams that the Georgia came. Here is another trademark scene, the dance of the dinner rolls. Charlie spears two dinner rolls with his fork, and bowing his head down over them, he makes them dance and twirl. Big Jim shows up at the town now, and sees Charlie, telling him if he they find Black Larson’s cabin, they will find gold and be rich.

Lady Capulet Analysis Essay

Capulet’s wife is the matriarch of the house of Capulet, and Juliet’s mother. She plays a larger role than Montague’s wife, appearing in several scenes. In Act One, Scene three, she refuses to talk to her daughter about marriage, as she feels uncomfortable about it, but in Scene four, she is pleased about Count Paris’s â€Å"interest† in her daughter. When Tybalt is killed in Act Three, she expresses extreme grief and a strong desire for revenge on Romeo. In Act Three, Scene 5, she becomes very angry with Juliet for refusing to marry Paris, and she coldly rejects her, saying â€Å"Talk not to me, for I’ll not speak a word; do as thou wilt, for I am done with thee†. By the final act, she is nearly overcome by the tragic events of the play.[6] We know that Juliet was born when her mother was 14, thus she is about 28 years old, and her husband is many years older than her. Calling her â€Å"Lady Capulet† is a modern convention; it is an echo of Juliet’s form of address in 3.5.65: â€Å"my lady mother†.[4] In the first quartos the stage direction and speech headings can be â€Å"mother†, â€Å"wife†, or even â€Å"old lady†, but nowhere â€Å"Lady Capulet†. Lady Capulet Character Analysis Like many other mothers of teens, Lady Capulet and her daughter clearly have a troubled relationship. The interactions between Lady Capulet and Juliet are strained and distant. Lady Capulet does make an effort to reach out to her daughter now that she’s of an age to be married. But it’s obvious that Juliet’s closest bond is with the Nurse; Lady Capulet never even comes close to challenging that. As a result, Lady Capulet doesn’t come across as a particularly great mom. The big question with her character is why. Why isn’t she close to her daughter? Why isn’t she supportive when Juliet needs her most? Just when Juliet needs her mom’s support, Lady Capulet coldly ignore her daughter’s pleas to help her avoid marrying Paris. After Lord Capulet storms out, Juliet turns to her mother to soften her father’s punishment. Juliet begs her even to delay the marriage. Lady Capulet responds, â€Å"Talk not to me, for I’ll not say a word / Do as thou wilt, for I have done with thee† (3.5.15). That’s pretty cold. What’s up with that? There could be a few different things going on here. It seems very likely that Lady Capulet herself had an arranged marriage with Juliet’s father, and it seems she went along with it obediently. When Juliet rebels against the planned marriage with Paris, she is rebelling against her mother’s way of life, and against the kind of marriage that Lady Capulet learned to suffer through. If Lord Capulet is an abusive husband, that gives Lady Capulet further reason to refuse to defy his wishes, even for the sake of her daughter. Also, in Shakespeare’s day, women were expected to be â€Å"obedient† to their husbands. We should also mention that some rather edgy modern interpretations of the play go so far as to say that Lady Capulet is having an affair; or at least actively pursuing one. We’re guessing these productions of the play are picking up on Lady Capulet’s over-the-top praise of Paris’s manly virtues (1.3.9) and her excessive grief over Tybalt’s death (3.5.7 The Nurse foils the character of Juliet’s mother, Lady Capulet. As her mother, Lady Capulet should know everything that there is about her daughter; she should know how old she is and her innermost feelings. However, Lady Capulet knows neither. Early on in Act 1, Lady Capulet is unsure of Juliet’s age and the Nurse has an extended speech in which she explains to Juliet’s mother how she knows how old Juliet is better than her mother does. Additionally, throughout the play, it is the Nurse that Juliet goes to for advice and assistance, not her mother. From the beginning of the play it becomes obvious that Juliet Capulet is being pushed into the idea of marriage by her mother, Lady Capulet. Lady Capulet is a minor character who first enters the play by demanding to speak to her daughter. She explains to Juliet that a handsome man named Paris would like to be her husband, and makes it clear that his wealth will bring Juliet an easy lifestyle. Her speech is unselfish, and shows that she does care for her daughter. Her round character exhibits her impatience and her inability to maintain a relationship with her daughter. This is proven when Juliet’s mother is left in the dark about her secrets, and the Nurse is confided in. The Nurse acts as a foil to Lady Capulet because of her nurturing nature. In the time period, the rich are portrayed as proper and superior, and an appropriate lady must remain obedient to her husband. So when Capulet threatens to throw Juliet into the streets it is only natural that Lady Capulet supports his decision. The play conveys Lady Capulet as rude and self-serving, but also as a caring mother. By being an opulent noblewoman in the late 1500’s she comes across as snobby which can be overlooked due to the time period. The first time you see Lady Capulet in the movie â€Å"Romeo and Juliet† you notice her eccentric behavior. Her apparel and attitude scream for attention. When she speaks with Juliet about marriage it seems that she wants her to marry wealthy Paris for her own†¦

2002 Ap Euro Dbq: Manchester

The Effects of Industrialization on Manchester, England 1750-1850 England in the 18th and 19th centuries changed dramatically as a result of the Industrial Revolution, which had many effects on the social structure of England and increased the gap between the rich and the poor. Because of this, industrialized English towns such as Manchester were both criticized and admired by poets, politicians, journalists, and outsiders, who were particularly from France. The most powerful points of view were from supporters of industrialization, those who opposed industrialization, journalists, and outsiders. Supporters of the industrialization of Manchester were typically British politicians or businessmen, impressed by the progress and production of Manchester. One of these was Englishman W. H. Thomson, writer of History of Manchester to 1852. Thomson provides a map that shows the growth of Manchester over a period of one hundred years in which in transformed from a small town into a robust industrial city with railroads and canals. This map shows how industrialization leads to rapid population growth and expansion, making Thomson an obvious supporter of industrialization. Another supporter of industrialization was Englishman Thomas B. Macaulay, a liberal member of parliament and a historian. In his essay, â€Å"Southey’s Colloquies,† Macaulay praises industrialization and Manchester for producing wealth for the nation, which in turn would improve the quality of life for the middle class and peasantry. A final supporter of industrialization was Wheeler and Co. , which praises the industrious spirit of Manchester in the preface to an 1852 business directory, shortly after Manchester was granted a royal charter as a city. The authors owe the fruits of the city’s labor to its â€Å"energetic exertions and enterprising spirit,† which is an unrealistic description of the motivations of the working class, and the preface was likely propaganda, being in association with the Crown. The supporters of industrialization were the ones becoming richer by it. They were separated from the working class and did not understand their plight. Those who opposed the industrialization of Manchester were more concerned with the well-being of those affected by it. These were poets, women, socialists, and health reformers who were disturbed by the living and working conditions of the middle class and the peasantry. One protester was Robert Southey, an English Romantic poet and author of Colloquies on the Progress and Prospects of Society in 1829. Being a Romantic poet, Southey laments on the industrialization of the city and describes it as a miserable place where the buildings which are â€Å"without their antiquity, without their beauty, without their holiness,† and where, â€Å"when the bell rings, it is to call the wretches to their work instead of their prayers. Another protester is Frances Anne Kemble, an actress, poet, and dramatist, who, in her account of a journey of the Liverpool and Manchester Railway in 1830, depicts a protest by the disgruntled working class over Corn Laws, which were tariffs on imported grain. In her depiction, the protesters scorn the â€Å"triumphs of machinery† and the â€Å"gain and glory which wealthy Manchester men were likely to derive from it. † This is a very Romantic depiction, as the protesters are breaking free from their bonds to choose liberty over wealth. A final protester was Edwin Chadwick a public health reformer, who, in his Report of the Sanitary Conditions of the Laboring Population of Great Britain, argued that the cramped conditions, unsanitary practices, and air pollution of Manchester greatly lower the average lifespan of its citizens, and that more lives are lost due to unsanitary conditions in industrial cities than in modern wars. Journalists reporting on life in Manchester were sometimes in favor of industrialization, but some opposed it. One journal in favor of the industrialization of Manchester featured an article by William Alexander Abram, a journalist and historian, in 1868. Abram claimed that conditions had increased dramatically since the early Industrial Era through law reform. A journal that was opposed to the industrialization of Manchester was the Lancet, a British medical journal founded and edited by Thomas Wakley. In 1843, The Lancet published a chart displaying the average age of death in four districts, two of which were industrial and two of which were rural. The average age of death in the industrial districts was far younger, but was especially young in Manchester, showing that Manchester was indeed the unhealthiest of industrial cities. A final journal that protested the industrialization of Manchester was The Graphic, a magazine that dealt with social issues. The Graphic published a picture of a view from Blackfriars Bridge over the river Irwell in the 1870s. The picture was a very dirty depiction of Manchester, showing smokestacks that blotted out the sky with lack plumes of smoke and waste pouring directly into the river Irwell, both of which caused tremendous health issues for the people of Manchester. Outsiders who visited Manchester in the 19th century were often disgusted by the monochromatic, unsanitary, and dangerous lifestyle of the laboring class of Manchester. These were typically French socialists who spoke out against the maltreatment of the poor by the rich. One such Frenchman was Alexis de Tocqueville, author of Journey s to England and Ireland in 1835. De Tocqueville, a socialist, tells us that the city of Manchester is based on the successes of individuals and the enslavement of others, rather than the success of society as a whole. Another French Socialist opposed to the industrialization of Manchester is Flora Tristan, a women’s rights advocate, who published her journal in 1842. The fact that it is her private journal makes it the most credible source to the opposition of industrialization because she is merely reflecting and not attempting to sway anyone’s mind. Tristan describes the working class of Manchester as sick and emaciated, and ends her entry with this lamentation: â€Å"O God! Can progress be bought only at the cost of men’s lives? † The industrialization of Manchester in the 18th and 19th centuries created wealth for the rich, but conditions for the laboring class worsened, and the gap between rich and poor increased. Many poets, socialists, and health reformers criticized the industrialization of Manchester, but politicians and business praised the industrious spirit of the city that filled their pockets. All of these feelings led to the revolutions of the 19th century and the rise of socialism and communism.

Life of Human Beings Without Fresh Water Essay

Fresh water is naturally occurring water on the Earth ‘s surface in ice sheets, ice caps, glaciers, ponds, lakes, rivers and streams, and underground as groundwater and underground streams. Fresh water is generally characterized by having low concentrations of dissolved salts and other total dissolved solids. The term specifically excludes seawater and brackish water. A human body can survive 8-14 days without water depending on the person. First of all our very existence will be in danger in the absence of fresh drinking water. Besides we will not get the much needed source of irrigation for our fields and as a result there could be lot of scarcity of food. So we will face a situation of food crisis. Water running in rivers is tapped and big dams are constructed and hydropower is produced. Moreover river transport system is not possible in case water stop flowing in rivers. Although plenty of water is available in oceans but that is not fit to be consumed by human beings as it is salty. At last in situation of extinction of fresh water resources, human beings will have to desalinate the sea water which is very costly affair. Lot of poor people will die as they will not be able to afford this type of water obtained through desalination plants. Moreover many types of diseases may occur due to consumption of sea water. In nutshell human beings will face a very difficult time in case they have to line without fresh water. Water is a finite resource which means that the total amount of water in the planet is only limited. Its supply remains the same and yet human population recently grows resulting to a decrease of available amount of freshwater per person. The relatively small amount of available freshwater elaborates on how critical it is for everyone to help preserve and maintain clean, healthy lakes and streams, our sources of water. Water is mostly now being wasted because it is under-priced. We do not realize the significance of it. Also, the uneven distribution of water resources has led to the stage of scarcity in a number of regions. Freshwater provides water for drinking, sanitation, agriculture, transport, electricity generation and recreation. It also creates habitats for a diverse range of animals and plants. There is no way we can live without freshwater supply. Our freshwater resources could eventually deplete if not protected now some way. Truth is we cannot live or function on a daily basis without the use of freshwater supply. It circulates and goes through our bodies, replenishing nutrients and carrying away waste materials. Now think of the scenario where human beings have to live without water.

Hong Kong

What about Hong Kong? If we explore the culture of Hong Kong through the lens of the 5-D Model, we can get a good overview of the deep drivers of its culture relative to other world cultures. Power distance This dimension deals with the fact that all individuals in societies are not equal – it expresses the attitude of the culture towards these inequalities amongst us. Power distance is defined as the extent to which the less powerful members of institutions and organisations within a country expect and accept that power is distributed unequally.At 68 Hong Kong has a high score on PDI – i. e. a society that believes that inequalities amongst people are acceptable. The subordinate-superior relationship tends to be polarized and there is no defense against power abuse by superiors. Individuals are influenced by formal authority and sanctions and are in general optimistic about people’s capacity for leadership and initiative. Individualism The fundamental issue addr essed by this dimension is the degree of interdependence a society maintains among its members.It has to do with whether people? s self-image is defined in terms of â€Å"I† or â€Å"We†. In Individualist societies people are supposed to look after themselves and their direct family only. In Collectivist societies people belong to ‘in groups’ that take care of them in exchange for loyalty. At a score of 25 Hong Kong is a collectivist culture where people act in the interests of the group and not necessarily of themselves. In-group considerations affect hiring and promotions with closer in-groups (such as family) are getting preferential treatment.Whereas relationships with colleagues are cooperative for in-groups they are cold or even hostile to out-groups. Personal relationships prevail over task and company. Communication is indirect and the harmony of the group has to be maintained, open conflicts are avoided. Masculinity / Femininity A high score (masc uline) on this dimension indicates that the society will be driven by competition, achievement and success, with success being defined by the winner / best in field – a value system that starts in school and continues throughout organisational behaviour.A low score (feminine) on the dimension means that the dominant values in society are caring for others and quality of life. A feminine society is one where quality of life is the sign of success and standing out from the crowd is not admirable. The fundamental issue here is what motivates people, wanting to be the best (masculine) or liking what you do (feminine). At 57 Hong Kong is a somewhat masculine society –success oriented and driven. The need to ensure success can be exemplified by the fact that many will spend many hours at work.Service people (such as hairdressers) will provide services until very late at night. Another example is that students care very much about their exam scores and ranking as this is the main criteria to achieve success or not. Uncertainty avoidance The dimension Uncertainty Avoidance has to do with the way that a society deals with the fact that the future can never be known: should we try to control the future or just let it happen? This ambiguity brings with it anxiety and different cultures have learnt to deal with this anxiety in different ways.The extent to which the members of a culture feel threatened by ambiguous or unknown situations and have created beliefs and institutions that try to avoid these is reflected in the UAI score. At 29 Hong Kong has a low score on uncertainty avoidance. Adherence to laws and rules may be flexible to suit the actual situation and pragmatism is a fact of life. The people in Hong Kong are comfortable with ambiguity; the Chinese language is full of ambiguous meanings that can be difficult for Western people to follow. They are adaptable and entrepreneurial. Long term orientationThe long term orientation dimension is closely rel ated to the teachings of Confucius and can be interpreted as dealing with society’s search for virtue, the extent to which a society shows a pragmatic future-oriented perspective rather than a conventional historical short-term point of view. With a score of 96 Hong Kong is a highly long term oriented society in which persistence and perseverance are normal. Relationships are ordered by status and the order is observed. People are thrifty and sparing with resources and investment tends to be in long term projects such as real estate. Traditions can be adapted to suit new conditions.

Cat’s Organizational Structure

Caterpillar’s Organizational Structure Caterpillar is a corporation that designs, manufactures and sells diesel and natural gas engines, construction, and mining equipment. Since the year 1905 Caterpillar has been a corporation that has evolved by making significant improvements to its machinery by taking advantage of the available technology, and it has had the ability to adapt to the dynamic changes and demands of the construction industry. Many significant events have occurred in this business to make this company what it is nowadays, a very prestigious and successful company around the world.In the year 1906 in San Francisco California, when one of the most significant earthquakes took place, the company made a remarkable use of its machinery by helping with the clean-up of such disaster. Soon enough the company made a contribution to Europe, years before War World I started, 1200 tractors were shipped to England, France, and Russia for agricultural purposes; however, thes e governments sent those tractors to the frontline and put them to work halting artillery and supplies.Consequently they served as an inspiration for the British government to invent the tank, for they borrowed the track laying principle to provide the tank with its form of locomotion. Caterpillar has become the number one company in its industry with more than $70 billion is assets; these important achievements could have only been accomplished with a well-defined and functional organizational structure. Legal Form of Organization Caterpillar is an organization that has the legal form of a corporation with more than $ 70 billion in assets. The main shareholders of the corporation are Vanguard group Inc. State Street Global Advisors Ltd. , and Fidelity Management and Research Company with 30,863,961, 16,637,962, and 12,216,827 shares held respectively. Key activities of organization Every year as many other corporations, Caterpillar does a deeply study of the actual situation of the company, and set its goals and strategies to maintain the corporation afloat and to improve their competence in the market. 1. The company’s expectations for the year 2020 are to be recognized as a leader around the globe, also it is very important for the company that their products help their customers succeed in their business uch as construction, agriculture, and mining. They are very focused in making their distribution system a competitive advantage to the company, the business’ financial performance to reward consistently their stockholders, and their personnel to live their set of values which are integrity, excellence, teamwork, and commitment. These objectives are vital for the company to succeed and keep being the leaders of the industry. 2. The SWOT indicated the areas that might endanger the company’s situation : i. Weaknesses: The increasing debt of the company: Caterpillar Inc. is rated second in total debt among competitors.The total debt of the industry is about $ 123. 53 billion. (See Figure 1) Caterpillar represents about 29% of the total debt with $ 35. 96 billion. Fig. 1. Caterpillar Total Debt, company’s debt consists of 29. 11 % of total debt of industry. Macroaxis Inc. Total Debt Breakdown for Caterpillar, 2012. . ii. Threats: * Intense competitive pressures: Caterpillar shares the market with many other companies, and it faces a tough competition to maintain their leading position. Deree and Co, Komatsu Ltd, Kubota Corporation are a few companies in the industry. Environmental regulations: Mining operations dependent upon material prices and political stability. * Foreign exchange and interest rate fluctuations 3. Values are really important issue in every company; without them the daily operations of the company could become a weakness, and advantage for competitors. As Caterpillar’s code of conduct mentions, the main focus in this area is shown in the following chart (see fig. 2). Fig. 2. Caterpill ar Inc. Values’ Chart Patterns of Departmentation Caterpillar if organized by a corporate governance structure with theChairman of the board executing the Role of Chief Executive Officer (CEO). A completely independent Board of Directors conformed by members outside the company (non-employees). The CEO oversees five group presidents. These groups of presidents supervise twenty-five vice presidents who are in control facilities, geographical regions, marketing regions and four service centers (see fig. 3). Fig. 3. Caterpillar’s Organizational structure. The Official Board. Orgeanizational Chart Caterpillar, April 3, 2012. .As we can see in the table, the corporation does not rely heavily in management levels; instead the chain of command is not very tall; which makes very dynamic the flowing of ideas and orders from Directors to line and production managers. This decentralized structure that took place in the early 1900’s was a key strategy to get closer to custo mers and satisfy more efficiently to their needs. The actual structure of the company is a clear insicator of how the company evolves constantly with the industy; the leadership understand the importance of being constantly involved with the employees at all levels.In the year 2004, the back then vice president of the company Christioano V Schena; shared an interesting story that demonstrated the effectiveness and results that good management can do for the Company. Christiano was sent to Caterpillar inc in Braxil as general manager of the company to deal with many problems the company was facing at that moment. In 1996, a big percentage of the products manufactured at that facility, were missing parts resulting in missed shiping deadlines; making the customers many unhappy with the service.As a result the company was not only loosing sales, but was inefficient sfixing all the problems this enificiency created and wmployees were working overtime and air- shipping parts to complete t he products. Christiano understood that the main problem was that employees had no sense of direction and were not motivated enough; they did not feel any connection with previous leaders which kept them in the shadow of the main mission of the company. He soon began to think and put in practice strategies to change this situation.He started by learning the local language, dor he understood there could not be a sentation of connection between leaders and subordinates in they can’t even speak the same language. He also learned the regional culture and realized that soccer was an important item in their lives. He started to compare the startegies and goals on the company with the strategies and goals of soccer. As the company started to improve and deliver in a much better manner, he was able to get all employees involved in the current performance and actual situation of the company.Employees were very motivated of belonging to a winning team and therefore performed better. He believed when employees are accountable for something, and they are given the tools they need to deliver on those accountabilities, they will do it better. As a result of this strategic planning procces, the employees transformed the business to such a level that in the year 1999 they received the Operational Excellence certification award, and the Premio Nacional Da Qualidade which is the Brazil’s equivalent of the U.S. Malcom Baldridge Award. Thorught this process Chistano also was able to recognize that the poor economical situation of the community surrounding tha company was a factor that threated the success of the company. The crime and low educational level of the area were a factor that limited the growth of the company. The team soon developed a strategy that involved in the effort of other entrepreneurs, CEOs and media leaders, to help the city in orther to attract talented people there. TeamCaterpillar is a global company that keeps constantly expanding across ma ny countries. The company operates hundreds of offices and facilities around the world and has more than 100,000 employees. Teamwork is a must, and there are technicians and engineers working in research, testing and development of new technology for the company in various countries. China, The Philippines, Singapore, and England are just a few of the countries where this company is conducting business in the present.With all these different facilities being located at different places, becomes very difficult to maintain the traditional face to face working environment; therefore, they rely heavily in technology to communicate ideas and coordinate operations from distance. Virtual teams are a must since engineers working at different time zones and places have to communicate their problems, ideas, and projects to achieve their respective task. In figure 4, we can see all the locations that at the present are being operated by the company. Fig. 4. Caterpillar currently operation worl dwide. Worldwide locations, Caterpillar Inc. 012. . Impact of information revolution As a technological company Caterpillar has an advantage over other companies that are not technological based. To keep the constant growth of the company, Caterpillar invests a great amount of capital in the research and development of new and better equipment and technology. Some of the current research projects of the company include ACERT technology in their engines which not only reduces emissions but also does it without affecting performance, reliability, and fuel efficiency.Mining technology and autonomous robotics are also being incorporated to this important step towards the future. All these purposes cannot be accomplished without proper training of their personnel. There are many programs that caterpillar is financing to train their employees and future employees as well. The company is really focused in training its personnel to increase their technical abilities and competence in the m arket. These programs are created for college graduates and could be applied in different areas of study.At the moment the company prefers aspirants with Bachelor’s degrees in Supply Chain Management, Industrial Distribution Management, Business Management, and Engineering. Some of these capacitation programs include: * Leadership and Technical Development Program. * Information Technology Development Program. * Human Resources Professional Development Program. * Logistics Professional Development Program. References Morningstar. Major Shareholders. Retrieved from http://investors. morningstar. com/ownership/shareholders-major. html? t=CAT . Wikipedia. Caterpillar Inc. Retrieved from http://en. ikipedia. org/wiki/Caterpillar_Inc. Macroaxis. Total Debt Breakdown for Caterpillar. Retrieved from http://www. macroaxis. com/invest/ratio/CAT–Total_Debt. Yousigma. Caterpillar Strengths, Weaknesses, Opportunities and Threats (SWOT). Retrieved from http://www. yousigma. com/com parativeanalysis/caterpillar. html. Morningstar. Industry Peers CAT. Retrieved from http://financials. morningstar. com/competitors/industry-peer. action? t=CAT®ion=USA&culture=en_US. The Official Board. Caterpillar’s Organizational Structure. Retrieved from http://www. theofficialboard. com/org-chart/caterpillar.

Exchange Traded Option Markets Essay Example | Topics and Well Written Essays - 2000 words

Exchange Traded Option Markets - Essay Example (Christopher, 2001; 45-57) However, most exchange-traded options are standardized. There are a set number of strikes and expiry dates available, and it is not generally possible to trade options on the shares of smaller companies. By contrast, in the OTC market dealers will sell and buy options on a wide range of shares, as long as they can find a way to manage the risks associated with such deals. Also, dealers offer a huge variety of non-standard contracts known collectively as exotic options. (John, 2002: 110-118) On some exchanges and with some contracts the buyer of an option is not required to pay the full premium at the outset. Instead, the purchaser deposits initial margin that is a proportion of the premium due on the contract. In the case of the individual stock options traded on LIFFE, the full premium is payable upfront. (Zuhayr, 2001, 63-70) However, the writers of options are subject to margin procedures. They must deposit initial margin at the outset, and will be required to make additional variation margin payments via their brokers to the clearing house if the position moves into loss. (Gordon, 2001: 121-129) The initial margin depends on the degree of risk involved, calculated according to factors such as the price and volatility of the underlying and the time to expiry of the contract. In practice, in order to cover margin calls, brokers often ask for more than the minimum initial margin figure stipulated by the clearing house. The derivatives exchanges also offer listed option contracts on major equity indices such as the S&P 500, the FT-SE 100 and the DAX. Contracts are of two main kinds. Some are options on equity index futures, and exercise results in a long or short futures position. Other contracts are settled in cash against the spot price of the underlying index. If a call is exercised the payout is based on the spot index level less the strike. If a put is exercised the payout is based on the strike less the spot index level. Options on indices and other baskets of shares can also be purchased directly from dealers in the OTC market. (Dimitris, 2000: 90-102) Some dealing houses issue securities called covered warrants which are longer-dated options on shares other than those of the issuer. Warrants are usually listed and trade on a stock market such as the London Stock Exchange. The term 'covered' means that the issuer is writing an option and hedges or covers the risks involved, often by trading in the underlying shares. (Austin, 2000: 73-81) Warrants are purchased by both institutional and retail investors (historically the retail market has been more active in Germany than in the UK). (Christopher, 2001; 45-57) Warrants can be calls or puts and written on an individual share or a basket of shares. They are sometimes settled in cash, and sometimes through the physical delivery of shares. UK Stock Options on LIFFE Table 1 shows some recent prices for stock options on Royal Bank of Scotland Group plc (RBOS) traded on LIFFE. These are the offer or sale prices for contracts posted by dealers placed on the exchange's electronic dealing system, LIFFE Connect. At the time the quotations were taken the options had just over two weeks remaining until expiry and the underlying RBOS share price was 1781