The Life of Robert Lewis Method or Madness - 792 Words

Robert Lewis was one of the most reputable renaissance men of the theatre world, devoting much of his life to acting, teaching, directing, and writing. On March 15, 1906, Lewis was born in Brooklyn, New York, with the given name Robert Lewkowitz. From a young age, Lewis was fond of the arts. His first interest was music; he played the cello and took up his studies at the Institute of Musical Art In Manhattan and the Brooklyn Music School Settlement. In the 1920’s, Lewis decided to switch gears and he began to pursue acting. He first entered the theatre scene when he began acting with the Civic Repertory Theatre and Sue Hastings’ Marionette Company. Lewis is well known for his contributions to Group Theatre and Actors Studio, along with his other workshop, teaching and acting endeavors. From 1931 to 1941, Robert Lewis acted for the Group Theatre, a theatre created by Lee Strasberg, Harold Clurman, and Cheryl Crawford. He served as one of the original members of the compa ny. Lewis appeared in many of their plays during this decade. The Group Theatre worked under the principles of Konstantin Stanislavski and Eugene Vakhtangov. After the ultimate collapse of the Group Theatre, these ideas carried over to the Actors Studio. Before the Actors Studio was created, a project called the Dollar Top Theatre went underway but was never completed. The Actors Studio was developed by Robert Lewis in collaboration with Cheryl Crawford and Elia Kazan. It was an acting workshop created inShow MoreRelatedSaints, Scholars and Schizophrenics1506 Words   |  7 Pagesis generally accepted that schizophrenia is a condition in which the person alters his representation of reality in order to escape or withdraw from seemingly unresolvable conflicts and from social interactions that are painful.†(Nancy quotes Hill, Lewis B 1955) as important defining quote of what is incorporated in characteristics of schizophrenia. 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The History Of Clive Peeters Foundation To Its Collapse Finance Essay - Free Essay Example

Sample details Pages: 8 Words: 2312 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? This report is about the history of Clive peeters foundation to its collapse. It has been examined under various accounting methods like, analysis credit history and various types of ratio analysis based on financial statement from 2006 to 2009. This presentation has been included the compare and contrast with some other companies. Don’t waste time! Our writers will create an original "The History Of Clive Peeters Foundation To Its Collapse Finance Essay" essay for you Create order Basically, highlighted on the causes of collapse, current status of company like, Voluntary administration, receivership, liquidation. The major findings point out that the company had serious defects in its business policy and ultimately failed to deliver due to its heavy reliance on debt attached with some other factors like: bad image caused by the theft of the company accountant, too much discounting, company size and recession. It is concluded with the company foreseeable future by my own view. Contents Page no Company Overview 1 Different types of companies 1 Analysis various Ratios and comments 3 Reasons collapsed of Clive Peeters ltd 6 Status of quo of Clive peters 8 Clive Peeters foreseeable future 9 References 10Table of contents Company Overview: Clive Peeters was one of the largest retailers of electrical appliances which have operated in Melbourne under its present ownership since 1993 and in Brisbane since 2001. The Company was trading as Clive Peeters in Victoria, Queensland, New South Wales and Tasmania, and trade as Rick Hart in Western Australia. It had more than 140 brands and over 20000 individual product models. With 44 stores and about 1300 staffs, it has been suffered by a gigantic financial loss. Earlier three months just before collapsed, it was expected to be the operating loss $4.5 million. It has carried on a huge corruption in its accounts department. A payroll officer had stolen $20 million. Because of Scandals of accounting fraud, huge debts, operating loss, competition with its rival companies, and Model of Sales marketing policy were the main causes of collapse. Clive Peeters financial woes have deepened as bank creditor NAB called in receivership to seize control of the company. And as a result, it w as being placed into voluntary administration. Harvey Norman acquired 32 Clive Peeters retail stores and the companys commercial network for $55 million. (Overview: Clive Peeters Limited Website) Different types of companies: Under corporation act(s 112), mainly two type of companies are permitted to be registered. One is proprietary company another is public company. According to the s 112, proprietary company is classified as limited by share, unlimited with share capital. Likewise, public company is classified as public company, limited by guarantee, unlimited with share capital, no liability company. Other titles of companies would be listed corporation, Disclosing entities, Foreign companies, No- Liabilities companies, Text book 8th edd page no3, 5 Clive Peeters Limited: Clive Peeters is a public company limited by share capital and its ABN is 52 058 868 018. It is a listed company of Australia stock exchange. The Company was incorporated in Victoria on 5 February 1993 and acted as the trustee for the Clive Peeters Electrical Trust (Trust) from 1993 to 31 March 2002. On 1 April 2002, the operating activities of the Trust were shifted to the Company. The Company got hold of all of the shares in Clive Peeters Wholesale Pty Ltd in January 2005. All of the shares of Clive Peeters Home Entertainment (Brisbane) Pty Ltd and Clive Peeters Appliances (Brisbane) Pty Ltd were held on trust for the Company until 1 July 2005 at which time those shares were acquired by the Company. The Company was registered as a public company in Victoria on 14 July 2005. On 20th September 2005, Clive Peeters Limited fully acquired and took control of the Rick Hart Group as well as acquired the business of Michael King Hawthorn Pty Ltd (MK), at the same time. CPA Australia: CPA Australia Ltd (CPA Australia) is a leading advocate of sound corporate governance. CPA is the very important member of Australian Stock Exchange Corporate Governance Council (ASXCGC). It develops corporate governance principal and recommendations (CGPR). It is an unlisted company and limited by guarantee. CPA Australia ABN is 64 008 392 452. According to Company Accounting Leo Hogget Sweeting Redford, p 5. CPA Australia limited by guaranty that means no required share capital for its formation. A public company limited by guarantee is one of which members guarantee to contribute a certain amount in the event of liquidation. Source: (CPA Australia wesite) SingTel Optus Pty Ltd. Singapore telecommunications Limited is listed on the Australian and Singapore stock exchanges. Its a private limited company and limited by share capital. SingTel is the parent company of Optus since 2001. In the Asia pacific region Optus is operating one of the largest strong and strategic telecommunications businesses.(ASX website) Kimberley Diamond Company NL: Kimberley Diamond Company NL is an Australian public company. The main revenue generating source is diamond mining and exploration. It was a public company with no liability. No liability abbreviated NL (ss 148-149) . According to s 112(2) of Act, a no liability company has some criteria to register 1.has a share capital, sole objects are mining purposes and under s 9 mining purposes are defined. According to Company Accounting by Leo Hogget Sweeting Redford, eight edition, p 6. Kimberley Diamond Company NL was a ASX listed Company before2008. After that it company was acquired by Gem Diamonds Australia Pty Ltd, and re moved from the official ASX list.source: (www.ibisworld.com.au) Here, above discussion we can able to find out all four companies including Clive petters ltd. Are different nature different formation even different activities. Clive Peeters is a public company limited by share capital and ASX listed company, CPA Australia is public company limited by guarantee ASX unlisted company nature is corporate governance, SingTel Optus Pty Ltd is a private company limited by share capital and listed on both the Australian and Singapore stock exchanges, nature of business telecommunications. And Kimberley Diamond Company NL was a public company with no liability but it had a share capital and it was listed before 2008.nature of business was mining. Analysis various Ratios and comments: Debt Equity Ratio: It points to what proportion of equity and debt the company is using to finance its assets. A high debt/equity ratio generally means that a company has been aggressive in financing its growth. Year 2006 = 87.6/71.6=1.22 Year 2007 = 118.1/77.6=1,52 Year 2008= 174.8/80.2 = 2.18 Year 2009 = 150.8/69.4 = 2.17 Analyzing the result of Clive peeters, we can say that there was really aggressiveness in finance invested for its rapid growth. We can see from the above figures that Clive Peeters Limiteds debt-equity ratio increased significantly over the years from 2006 to 2009. This meant that over the years Clive Peters Limited had relied a lot on borrowings from external lenders for their business activities. The Debt Ratio: It indicates what proportion of debt a company has comparative to its assets. The formula of debt ratio= Total liabilities / Total assets For the year: 2006: Debt ratio =87513000 / 159161000 =ÂÂ  0.55 2007: Debt ratio = 118114000 / 195672000 = 0.60 2008: Debt ratio = .1991433000 / 5367682000 = 0.68 2009: Debt ratio = 150775000 / 220178000 = 0.68 Analyzing results of all years, it found that all debt ratios were less than 1. That means, its indicated indicates thatÂÂ  a company has more assets than debt. Current Ratio: A liquidityÂÂ  ratio that measuresÂÂ  a companys capability to pay short-term obligations The formula is: Current Ratio = Current assets/ Current liabilities. The ratio is mostly used to give a suggestion of the companys ability to pay backÂÂ  its short-term liabilities with its short-term assets. The higher the current ratio, the more capable the company is of paying its obligations. A ratio underÂÂ  1 suggests that the companyÂÂ  wouldÂÂ  beÂÂ  unable to pay offÂÂ  its obligations if they came due at that point. Here, Clive peeters current ratio was: For the year 2006: current ratio = 115,251000 / 8,3475000 =1.38 For the year 2007: current ratio = 140526000 /114,882000ÂÂ  = 1.22 For the year 2008: current ratio =4,813,101ÂÂ  000 / 1,830,538000= 2.63 For the year 2009: current ratio =158,853ÂÂ  000 / 111,208ÂÂ  000=1.43 It indicating that clive peters current ratios was entering into danger zone up to 2009. Acid Test Ratio: This test indicatesÂÂ  whether a firm has enough short-term assets to cover its immediate liabilities without selling inventory. Companies with ratiosÂÂ  of less than 1 cannot pay their current liabilities and should be looked at with extreme caution. Acid test ratio =Cash + Accounts Receivable + Short-term Investments / Current Liabilities There is an another formula= Current Assets Inventory / Current Liabilities Acid test ratio, for the year: 2006: = (115, 251000 74061000) / 8,3475000 =0.49 2007 = (140526000 98906000) / 114,882000ÂÂ  = 0.36 2008 = (4,813,101ÂÂ  000 2550283000) / 1, 830, 538000= 0.42 2009: = (158,853ÂÂ  000 108080000) / 111,208ÂÂ  000= 0.46 Its proved that over the period Clive peters was not capable to pay current liabilities. The Times Interest Earned (TIE) Ratio: The formula is: Earnings before Interest and Taxes (EBIT) = Total Interest Charges (IT) For the year: 2006=19.51 /1.4 =13.94 2007 =20.57 /27.02 =0.75 2008 =17.03 /16.07 =1.04 2009 = 11.65/3.42= 3.42 From the above calculations are showing Clive Peeters Limiteds Times Interest Earned ratio dropped significantly to a negative figure on 2009 which eventually forced Clive Peeters Limited to be declared as bankrupt Reasons collapsed of Clive Peeters ltd.: The collapse of Clive Peeters did not come as a shock to many in the retail sector. it appeared that the company had been punched by a $20 million accounting scandal in august 2009 , than industry experts had realised that it would be fallen into deep trouble within shot time. Earlier this year 2010 Clive Peeters was expected its operating loss for the three months to March 31 be $4.5 million The key creditor of clive peters in Banking sector Natioal Australian Bank ( NAB ) formerly placed Clive Peeters into receivership. It was the moment of its fallen down . Huge debts slay of its endurance desires: Clive Peeters financial report for the six months to December 31 shows the company had total debt of $160 million at December 31.the reasons of this debt was it was trying toexpand its business as soon as possible, so that it had acquired some smaller competitors by increasing its debt. In the earlier boom years its business was good, because consumer has money and economy was going well , consumers were buying plasma tvs etc, but when , downturn of economy its debts become a headache since march 2009. NAB disagreed to cover its debt anymore. Within 12 months its become mostly sick business who could survive anymore. Market policy: Most whitegood retailers, Clive Peeters was being alive and passed away on its ability to stay alive on poor margins. In this sector, Harvey Norman, JB Hi-Fi and The Good Guys are constantly on sale and constantly offering discounts to tempt consumers. With discounts widespread retailers like Clive Peeters require to rely on volume. Competition: Its another reminder that in many sectors, the Australian economy only supports very big or very small companies. Clive Peeters had 45 stores where Harvey Normans more than 100 stores,it may have found itself in a dangerous middle ground not big enough to battle with the extent and financial power of Harvey Norman, and too big to be seen as a specialist niche retailer. While the Top company like Harvey Norman can avoid discounting wars and operate business its own desires by focussing on service. Specialist products or a certain area of the market, mid-sized player like Clive Peeters have no choice but to take on Harvey Norman at their own discount game. Its another reminder that in many sectors, the Australian economy only supports very big or very small companies. Accounting Scandal: Clive Peeters suffered with an accounting scandal when a Female payroll officer Sonya Causer, 39 allegedly stole $20 million. This fraud made a scary thing for its all investors and creditors, suppliers. Plenty of irregularities in accounting sector made really a unstable situation in market. Above discussions we can say, these were the main causes of Clive peeter collapse. Status of quo of Clive peters: At the first meeting of creditors held on 28 May 2010, Mr Brendan Richards and Mr George Georges of Ferrier Hodgson were appointed as replacement joint and several Administrators of the Clive Peeters group. At a second meeting of creditors held on 20 July 2010, determined to place some entities( Clivpee Ltd Clivwho Pty Ltd , Clivpkb Pty Ltd , Hi-Fi Corporation (WA) Pty Ltd , NTFQ Pty Ltd ,Rickhar Pty Ltd .) into Liquidation. For that, George Georges and Brendan Richards were appointed Liquidators pursuant to Section 499(2A) of the Act to wind up the Companies affairs and distributing its property. (Source:www.asic.gov.au) There are different kinds of external administration in case a company is in financial hardship. The major three of these are as follows: Voluntary administration: Voluntary administration works with insolvency process where the directors of a financially troubled company or a secured creditor with a accuse over most of the companys assets appoint an external administrator called a voluntary administrator. Appointment of A voluntary administrator: commonly companys director, less commonly by liquidator, provisional liquidator, or a secured creditor. Receivership: A company most usually goes into receivership when a receiver is appointed by a secured creditor who holds security over some or all of the companys assets. The receivers primary role is to collect and sell sufficient of the companys charged assets to repay the debt owed to the secured creditor. (Source: www.asic.gov.au) Liquidation: Liquidation is the winding up arrangement of a companys dealings. It engages realizing the companys assets, termination or sale of its operation, distributing the proceeds of realization among its creditors and dealing out any surplus among its stakeholders. (Source:www.asic.gov.au) Bottom of Form Clive Peeters foreseeable future: It is very difficult to survive in current situation if the current administrators be returned to the directors; it would not able to helping any way to reboots Clive peters. In my view, where its debt is massive against the assets there is no way to keep alive Clive peters for future competitive business arena. It is better to go into enter into liquidation of whole group of business. Another way, we all know that 32of the Clive Peeters stores were bought by Harvey Norman Holdings Limited after it went into voluntary administration. Its original name was kept as it is and its staffs in some of its stores were being able to keep their jobs. In my view, though Harvey Norman has bought part of its business, to keep the company afloat more money needs to be injected and its whole business structure needs a restructuring. Otherwise, it is going to be very difficult to keep Clive Peeters Limited from getting liquidated.

The Importance of Critical Thinking Skills Essay examples

This action research paper addresses the importance of critical thinking skills rather than memorization in teaching for historical understanding. Students generally perceive that history is a boring subject in which they have to memorise massive amount of information about the past and recall it during examinations in order to pass the subject. They find that history bears no relevance to everyday life. Educators play an important role in helping students to shed some light that history is not about the past, but rather about our ways of creating meanings from and about it (Kellner, 1989, p.10). Foster and Padgett (1999) emphasized authentic historical inquiry, focusing on critical thinking skills, to counter the transmission mode and†¦show more content†¦One of the best ways in engaging students to think critically about the past is through historical empathy in which they would be introduced to a level of engagement and challenge which goes beyond ‘knowing factsâ₠¬â„¢. Historical empathy as defined by Barton and Levstik, should include two essential components: the traditional view of empathy as â€Å"perspective recognition† as well as the element of â€Å"care†. They identified four types of caring. Pupils caring about in the past historical events; caring that referring to pupil’s reaction to the consequences of an historical event; caring for which indicates a student’s desire to help the people in the past because he or she feels badly about what was happening to them and finally caring to which is a call to respond to the present based on the pupil’s reactions to past events. Historical empathy is an important tool in facilitating pupils’ understanding on how people from the past thought, felt, made decisions, acted and faced consequences within a specific historical and social context. 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Social Psychology of Bargaining and Negotiation

Question: Discuss about the Social Psychology of Bargaining and Negotiation. Answer: Metro Enterprise and Planning, a division of Universal Telecom, has been affected by the global financial crises which has led to cost cutting of the company. The company has been shedding the employees for the past one and a half year to cut down its cost, which has brought down the workforce from 160 to 20 employees. This has brought down the burden of the North American customers on these 20 employees which has created tension and frustration within the group. The performance of every employee is affected in the process of trying to secure ones individual job. Warren Merril is the Director of the group and is trying to secure the company and his job at this moment because a small mistake by the group could make his survival difficult. So his attitude has become very rude to his employees and he does not provide any support to the team members. Jack Morgan is the Senior Engineer and does not like Warren because of his promotion. Mavis Tate is a dynamic personality and has been able to deal with the situation. Neil Bateman is a junior employee and gets discouraged by the team members when he makes some mistake. Jennifer Giaconi thinks that Warren is not playing his role in an effective manner. The pressure is causing every employee to put blame on the other which is the chief cause of the problem. Warren Merril should be demoted to his original position because he is unable to handle the employees and provide a roadmap to the organization. Universal Telecom should appoint a new Director who has a vision and can think broadly by thinking in terms of organization growth. Group requires a leader who can bring the employees together by developing trust and confidence within the team members and make them work together towards a common goal (SHRM, 2008). List of References Rubin, J.Z. Brown B.R. (). The Social Psychology of Bargaining and Negotiation. London: Academic Press Inc. (London) Ltd. SHRM. (1 March 2008). Leadership Competencies. SHRM. Retrieved from https://www.shrm.org/resourcesandtools/hr-topics/behavioral-competencies/leadership-and navigation/pages/leadershipcompetencies.aspx