Is It Wrong To Cheat A Sucker Essays - Fraud, Telemarketing Fraud

Is It Wrong to Cheat a Sucker? The Gloucester County Office of Consumer Affairs, in partnership with the Federal Trade Commission, is launching a new onslaught against telemarketing fraud and other means of solicitation tomfoolery. Individuals are contacting people on the telephone claiming to represent a charity or fund-raising organization, when they either do not represent a charity at all, or only a small percentage of the money will actually go towards the charity. Other scams involve 900 lines, dating services, and travel packages. The telemarketers use a variety of tactics to persuade the consumer to purchase the goods they are trying to sell, ranging from slightly sneaky to undoubtedly unscrupulous. The question of ethics comes in to play here when one must ask himself whether or not it is all right to cheat someone not smart enough to check all the facts and educate themselves against being cheated? Looking at today's society, people tend to marvel and sometimes even cheer at those who are able to take advantage of the intellectually challenged and turn a profit. One of the most successful businessmen in the world, Bill Gates, sits at the top of his throne only because he was smart enough to steal programming ideas from his peers. Microsoft's Windows is based on technology created by Xerox, yet Gates is hailed as the genius who created the program. Was it wrong for Bill Gates to exploit what he saw was an opportunity to skyrocket to the top? It was not wrong if he looked at the example set forth by our forefathers. When Christopher Columbus first sailed to the New World, he found it inhabited by a race of people who had been here for many, many years. The Native Americans held claim to and inhabited the land that would soon be taken over by Europeans and changed completely forever. The Europeans cheated and swindled the Native Americans and used many means of trickery to obtain the land. Soon the Native Americans had no land and nothing to show for it. This has come to be the example on what America has stood for over the years. The old line of "survival of the fittest" still manages to ring true today. If one man is smart and another is not, then it seems only proper that the smart man would try to educate the man who is not smart. Sometimes words are not enough, and lessons can only be learned by experiencing consequences. There is an old proverb that says: "A fool and his money will soon part." A dumb man who is swindled out of his money may be broke, but in the process he gains something more valuable than cash ? knowledge. In essence, the smarter man who cheated him actually earned whatever money he received as a teacher to the other man, because the next time that man acquires money, he will be a little more careful with what he does with it. Another proverb says: "Fool me once, shame on you. Fool me twice, shame on me." Only by making mistakes can people learn about life and how to be better people. The solicitor often will give the consumer the hard sell and try to pressure him into making an on the spot decision. Peer pressure and pressuring people into taking advantage of "one time only" opportunities may not be looked at as the most ethical methods of salesmanship by all, but the fact remains that if a person is too weak to say "no," then it is no one's fault but his own. If anything, experiences with telemarketers such as these will act as exercises in building a strong will and in the future will enable a person to either refuse the offer or simply hang up the phone. No one is holding the consumer's first born child hostage, but instead simply makes his or her offer seem like a better deal than it may in fact be. Rash judgments are dangerous, and telemarketers are doing a good job of helping those ignorant of this to finally become aware. Certainly it would nice to live in an ideal world where no corruption and no evil existed. In a perfect society, people would

Experiment to determine gravity from a spring using analogue techniques Essays

Experiment to determine gravity from a spring using analogue techniques Essays Experiment to determine gravity from a spring using analogue techniques Paper Experiment to determine gravity from a spring using analogue techniques Paper The aim of this first experiment is to examine simple harmonic motion exhibited a mass on a spring. Using data recorded in doing this, the spring constant for each spring can be calculated along with a value for gravity. In the first part of this experiment, the relationship between the period of the oscillations of the spring and the mass of the spring is observed. The period of oscillation of mass on a spiral spring depends on the mass on the spring and the spring constant of the spring. This is given by: Where m is the mass on the spring and k is the spring constant of the spring. Since the period can be observed, and the mass on the spring is known, this part of the experiment is concerned with calculating k, the spring constant for each of the springs used. The spring constant is different for every spring, and is defined as the mass needed to produce a unit extension of the spring (ref. 6). This is calculated by placing differing masses on the spring, extending the spring a certain distance from its equilibrium position each time and timing the time for 10 oscillations of the spring to occur. This is done by using an analogue stopwatch and a ruler to ensure that the distance extended from the equilibrium position was the same each time. The graph of period squared against mass can then be plotted. From this, the value for the spring constant, k, of each spring can be calculated by comparing the equation of the best fit line of the graph to the squared version of the equation above,. The second part of this experiment is concerned with Hookes law, which states that the extension of a spring is directly proportional to the mass applied to it. Mathematically, this is stated as: Where x is the extension of the spring in metres, k is the spring constant of the spring measured in Nm-1 and F is the restoring force, measured in Newtons. This value is negative because the force always acts against the direction of the extension, for example if the extension of the spring is downwards, then the restoring force is the force acting upwards on the mass. When a mass is placed on a spring, it begins to oscillate, until it comes to rest. When the mass comes to rest, the two forces acting on it (the restoring force and gravitational force,) are balanced, ie: So it can be said that: , When a mass, m, is at rest on a spring with spring constant k, extension x from the equilibrium position, with g being the acceleration due to gravity of 9. 1Nkg-1 . In this experiment, the spring is loaded with different masses of known values and the extension of the spring from the equilibrium position when there is no mass on the spring is recorded. Then a graph of extension against mass can be created from this data. The equation of the best fit line of this data can now be compared to and a value for the Earths gravitational field strength can now be calculated using this data and the value for the spring constant calculated in the first part of this experiment.

Preservation of Organs for Transplant Research Paper

Preservation of Organs for Transplant - Research Paper Example This paper seeks to analyze history of organ transplant, what happens to blood flow and metabolism; the length of time the tissue is available for transplant, size of the tissue in relation to efficacy of the methods of preservation, energy balance at the tissue/organ surface and how this may appropriate particular method, and the methods that are used in conjunction with hypothermia. Introduction Organ transplant is the effective therapy for end-state organ failure which primarily depends on the supply of organs of high quality and efficacy. It was developed in 1960’s based on the functional knowledge by anatomists and physiologists on the requirements of to keep body organs viable and functioning outside the body. Organ preservation on the other hand acts as a logistic aspect to enable conducting of laboratory tests and organization of other clinical activities before the actual transplant (Toledo-Pereyra, 3). Organ preservation simply calls for slowing biological deteriorat ion in organs removed from their normal physiological environment necessitating advancement of methods and approaches to achieve the process. Methods Cooling: This involves reduction of temperatures to inhibit cellular metabolism and requirements for oxygen in a bid to prevent tissue injury. The organs are preserved in a specific solution which in most cases prevent the molecular, cell and tissue changes in a bid to prevent oxidative stress and inflammation/cytokine production which would affect the conditions of the tissue. Hypothermic Machine Perfusion [HMP]: this method depends on activating residual metabolism which greatly relies on energy generation synonymous with the mammalian need for oxygen supply for aerobic metabolism through vascular perfusion. Simple Static cold storage [SCS]: It is associated with preservation for livers, lungs, pancreas or heart with a basic concept of cooling supplemented with use of special preservation solutions aimed at modifying inevitable cellu lar molecular changes. Discussion In cooling, blood flow and metabolism are suppressed so as to inhibit uncontrolled cellular/ molecular growth before the transplant. This elongates viability of the tissue/organ with respect to time by â€Å"chilling of organs† making it the widely used approach in the preservation history. The efficacy of this method depends on the size of the tissue/organ which dictates the maximum time that it can be preserved before the transplant. The energy balance is based on the mitochondrial dysfunction by disrupting its membrane permeability allowing accumulation of calcium, sodium and water within the cell which in turn inhibits uncontrolled growth/destruction of the tissue. HMP on the other hand involves a non-pulsatile blood flow coupled with low/minimal oxygen supply and low temperatures to inhibit metabolic changes of energetic substrates. Uniform myocardium cooling and constant supply of needed metabolic substances, facilitates early post-stor age capacity a method that necessitates HMP in the liver transplant. Energy balance on this method relies on the balance of oxygen supply and the aeration of perfusates and the preservation solutions (Hornick and Marlene, 3). SCS involves much of the HMP procedures but differs with the concentration of chilled solutions and

The French Revolution Essay Example | Topics and Well Written Essays - 750 words

The French Revolution - Essay Example But more interestingly, it was a rebellion against the conventional ideas and the established philosophy, with even religious discord and a struggle for supremacy (Smitha). This paper purports to discuss the main aspects of the revolution, both in terms of its reasons, and its effects. Let us consider the economic and political reasons first. France was emerging as the second world power after Britain, and there was a relentless struggle for world domination (Smitha). The French had colonies and their economic status was improving. However, their population was increasing side by side, and at a much rapid pace. Moreover, the colonies in the New World were getting independent and forming the United States of America, so the trade and commerce was divided, with Britain taking the lead (Smitha). The population of France had increased by five or six million in a span of roughly fifty years, whereas the food production was still slow and rudimentary, unsuitable to provide for the increase in the people to be fed (Smitha). In the 1780s, Paris alone had a population of 650,000 (Smitha). However, around eighty percent of the crop production around Paris was done for personal consumption by the farmers, and only around twenty percent was available in the market (Smitha). This meant that any loss in the yield, which happened frequently due to poor methods of farming and feudal system, made the common man go hungry (Smitha). This was worsened by the fact that the French economy was by large an agricultural economy, so there was no other major source of income for the government (Smitha). The government had not provided any means of storage or relief in times of need, and so the prices of bread, the staple food of the French, rose as the availability declined (Smitha). Moreover, the textile industry, which was till then a leading industry, was overtaken by the British who provided cheaper and better quality cloth to the French, thereby decreasing French export and increasi ng their import (Smitha). These, and many other economic and political factors led to a great divide between the ruling class and the common man. In 1788, there was a terrible hailstorm, which led to the worst crop yield in forty years, giving way to a most severe winter season (Smitha). Most of the people were jobless. A riot broke out (Smitha), which soon formed the shape of the revolution that went in history as the French Revolution. The intellectual and philosophical reasons behind the revolution were as important as the economic and political motives. There were two distinct groups of thinkers and socialites, the conservatives and the radicals (Cody). It is interesting to note that this intellectual revolution, for the most part, originated elsewhere outside of France, mostly in Britain, but it effected the French in the most potent manner, who rose to rebel against the established regime (Cody). There rebellion, in turn, effected the British and the rest of Europe in a profou nd way. The conservatives sided with Newton and Locke, and believed in reason, whereas, the radicals included Blake, Godwin, and Paine, among others (Cody). The French were then more influenced by the radicals who promised equality, brotherhood, and freedom (Cody). This strife led to prolonged debates on the subject of humanity and liberty between the radicals and conservatives for years (Cody). The French Revolution, however, ended in a â€Å"reign of terror† (Cody). The radicals, who had been greatly praised and supported by their British counterparts, lost control and went too far in their struggle to end any traces of the former regime (Cody). They assured that by slaughtering anyone who had any

Military Culture: A Dynamic Phenomenon

Military Culture: A Dynamic Phenomenon Military culture is a dynamic phenomenon which undergoes evolution in consonance with changing environments. Effects of changes may not be sudden or abrupt but over a period of time; however the variations in environment have potential to alter the entire character of an army. Sequel to this, organizational changes have direct bearing on military culture, as they define the lifestyle of a military outfit. These changes coupled with increased requirements of specialized outfits due to intrinsic geographical diversity have catalyzed cultural shifts in our military. These smaller and particular set ups have actually created/likely to lead to a no of variant or sub-cultures in the army. This sub-cultural shift if not controlled and channelized may result into serious mutations from our very strong, seasoned and well evolved military values as well as culture. In view of above, carryout an in depth study of change in the culture of Pakistan Army attributable to organizational changes as well as concept of specialized outfits with a view to suggest remedial measures to offset any ill-tendencies / disadvantages. . ABSTRACT Culture is diverse in nature. It exists everywhere on this earth. Pakistan is has a rich Culture which is a blend of various cultures that existed in the sub ­continent during the pre-partition era. Our psycho-social and socio-economic environment has deteriorated over the past decades. The employment of units in Sub Conventional Warfare in the last decade and due to Indians Pro Active Operations Strategy has affected the military culture in Pakistan Army. The military culture whether it is affected by the organizational changes and establishing of the satellite cantonments or not is a question that has been discussed in this paper. The social and cultural problems like reduced ethical values, increased careerism, individualism etc has greatly influenced the military lifestyle. The military culture which had very strong values, customs and traditions is undergoing a process of degradation. More so the media and general awareness has also played a major role in giving rise to materi alistic approach among the officers and soldiers alike. This study has highlighted the reasons for the degeneration of military culture and also gives certain recommendations which can reduce the level of deterioration and revive the lost traditions which are a hallmark of our Military Culture. TABLE OF CONTENTS S/No Title Page Preliminaries 1 Theme ii 2 Abstract iii 3 Table of Contents iv Part-I 4 a. Basic definitions and historical perspective 2 b. Roots of Military Culture of Sub Continent 10 c. Part-Il 5 a. Organizational / role changes over past 16 decade in Pakistan Army b. Strengths of Military Culture 17 c. Deformation in Military Culture due to Changes 19 in organization and Role Part-Ill 6 Effects of socio-cultural disorder on Pakistan Army 23 Part-IV 7 Recommendations 27 8 Bibliography 33 EFFECTS OF ORGANIZATIONAL CHANGES AND CREATION OF SPECIALIZED UNITS ON MILITARY CULTURE An Army without culture is dull witted army, and a dull witted army cannot defeat the enemy Moa Tse Tung Introduction 1. Cultural and social changes have been a dominant part of the evolution of mankind. Culture is that complex whole which includes knowledge, belief, art, morals, law, customs, and any other capabilities and habits acquired by man as a member of society  [1]  . Military society is a unique and distinct entity with its own sub-culture. This form of culture provides an environment under which leadership and management are exercised in the armed forces. Military culture is often determined and modified by the nature of the society of its origin. Although the elements of the military culture like training, discipline, codes, conditioning etceteras play a pivotal role to bring about changes in the cultural traits of military personnel, the cultural traits of the society remains its very foundation. 2. For a military outfit it is extremely important to have a team equipped with an enriched military culture which can deliver in the hour of need. What makes a soldier fight? In some cases it is the motivation based on ideology, in others it may be materialistic motives. It takes a wide span of time to inculcate all those attributes which a soldier needs to withstand challenges in the combat. This is a whole time commitment where one spends more time in dealing with professional choirs than with normal society. History is witness to the fact that military culture has played a key role in the final outcome of many battles. Culture is a barometer of societys health. An eroded culture will be a reflection of the illness of a society and vice versa. 3. After 9/11, not only affected the society of our country but also transformed the military culture of Pakistan Army a lot. The Sub Conventional Wars in Federally Administered Tribal Areas, Swat and areas of Balochistan resulted in formation of new specialized outfits with specific tasks. Indians Pro Active Strategy has also resulted in the organizational changes as well in the form of establishment of new satellite stations/ cantonments. These organizational changes has affected the military culture in Pakistan Army prevailing a decade ago resulting in the deformation of already established military customs, traditions and culture. There is a dire need to identify the deformation that has taken place and the effort that is required to remove/ correct them. Aim 4. To carry out an in depth study of changes in Pakistan Army culture in historic perspective, current changes in the culture attributable to organizational / specialized outfit related transformations, with a view to suggesting remedial measures to offset the deformation in the military culture. PART-I BASIC DEFINITIONS AND HISTORICAL PERSPECTIVE Basic Definitions 5. In order to undertake the study it is imperative to understand the following basic concepts so as to build a sound base for the analysis. a. Society. The English word society emerged in the 15th century and is derived from the French word societe. The French word, in turn, had its origin in the Latin word societas, which means a friendly association with others, from socius meaning companion, associate, and comrade or business partner. The Latin word is probably related to the verb sequi, to follow, and thus originally may have meant follower  [2]  . In political science, the term is often used to mean the totality of human relationships, generally in contrast to the State, i.e., the apparatus of rule or government within a territory. In the social sciences such as sociology, society has been used to mean a group of people that form a semi-closed social system, in which most interactions are with other individuals belonging to the group. Societies may also be organized according to their political structure. In order of increasing size and complexity, there are bands, tribes, chiefdoms, and state societies. These s tructures may have varying degrees of political power, depending on the cultural geographical and historical environments that these societies must contend with. Thus, a more isolated society with the same level of technology and culture as other societies is more likely to survive than one in closer proximity to others that may encroach on their resources. A society that is unable to offer an effective response to other societies it competes with will usually be subsumed into the culture of the competing society. b. Ethos. Ethos, according to the Oxford English Dictionary, is defined as the characteristic spirit, prevalent tone of sentiment, of a people or community; the genius of an institution or system, although it originally has its roots in the Greek word etho or to be accustomed to  [3]  . In a place where one might gather often, the opportunity for developing communal values indefinitely arises. These types of values are those which are established in the meaning of ethos. Therefore, to be a good example of ethos, one most portray the types of traits that are most valued within a society which sometimes differs for every society. For example, those virtues as related to Athens would be justice, courage, temperance, magnificence, magnanimity, liberality, gentleness, prudence, and wisdom.  [4]   c. Culture. Culture is defined as the sum of symbols, ideas, forms of expression, and material products associated with a social system. It is a dynamic medium through which societies create a collective way of life reflected in such things as beliefs, values, music, literature, art, dance, science, religious ritual, and technology. In this sense, it is literally the source from which we create most of what we experience as reality, and as such its place in human life is enormously important  [5]  . Culture is the integrated pattern of human knowledge, belief and behavior. Culture thus consists of language, ideas, beliefs, customs, taboos, codes, institution, tools, techniques, work of art, rituals, ceremonies, and other related components. Some researchers say that culture is concerned with the state of mind, spirit and civilization. Even human society also enjoys its own particular culture, or socio- ­culture system which overlaps with other systems. Variations among socio-cu ltural system are attributed to physical habits and stretches to the range of possibilities. Culture is inherent in various areas of activity, such as language, rituals and customs. The attitude, values, ideals and beliefs of individuals are greatly influenced by the culture in which they live. Precisely, culture is the sum total of the ways of life of people in a particular society. Culture is the key to understanding a group, has a lot of practical value to a sociologist. If we know the culture and its implication for man or group of men, we can predict certain part of their behavior, and explain most of its part actions. Following aspects of culture are vital  [6]  . (1) Culture is a continuously changing process. It adapts itself to new situation and environment though it is not observed since the changing process is quite slow apparently but has deep under currents. (2) Whenever culture of a society is dilated upon, the instance of that society is not protected. d. Mores. Mores are norms that reflect deeply held cultural ideals about how people should behave. Mores make more important distinctions, such as those between good and evil, virtuous and sinful, laudable and repugnant. A societys mores define standards of behaviour that are more serious and punishment for their violation tends to be both more certain and more severe. Mores extend beyond the rightness or wrongness of certain acts to the most profound ideas about life in a society is supposed to be about  [7]  . e. Military Culture. The military society is a unique and a distinct entity with its own sub culture. This form of culture provides an environment under which leadership and management are exercised in the armed forces. Military culture is often determined and modified by the nature of the society and of its origin, although, the elements of culture like training, discipline ,codes, conditioning etc play a significant role to bring about changes in the cultural traits of military personnel, nevertheless, the cultural traits of the entire society remains as the foundation. Since differences or changes in cultural traits are brought about by these elements, they become factors of consideration, particularly in crisis or battle situation. The performance and conduct of soldiers in crisis and battle are the sum total of cultural traits they have imbibed over a period. Military culture is generally based on ideals of honour, sacrifice and discipline, thereby appearing different from the t raditional value system of any society. The extent of attainment of these ideals; account for the professional rating of the military. This consequently differentiates a professional army from a non ­professional one. Pakistan Army evolved along with the history of the nation itself and has experienced modifications of its military culture at various critical times. The different stages that the army experienced has helped to modify its culture to what it is today exercising both positive and negative trends on its professionalism. Historical Perspective 6. Genesis of Military Culture in a Global Perspective. Military culture can be traced back to the genesis of human society itself. The interesting phenomenon is that despite the wide diversity of the worlds cultural scene, military culture all over, has the same basic ingredients and therefore cannot be isolated drastically from the national culture. Military culture breeds respect, honour and regard for fellow soldiers. Its builds a positive culture in which its members live. It is the mainstay of any successful military organization  [8]  . Military culture, apart from geographical influences, also has deep historical roots in the genesis of the particular army as well. The armies raised by the colonial powers retain the imprints of colonial occupation in their overall outlook. As humans developed their dwellings into communal groups and the network of tribal society began spreading, so did the profession of arms. Initially all members of the clan were supposed to take up arms whenever circumstances necessitated acquiring or retaining. As civilization grew larger, different people took to different walks of life. This was the origin of professionals. In order to understand the genesis of military culture in its broader perspective, Ancient civilizations of Egypt and Greece will be mention here:- a. Military Culture of Ancient Egypt. Egypt is known as a land of ancient wisdom  [9]  . By the 1468 BC, small groups of people started settling down along the banks of the Nile. These settlements became small villages and in time the headman of one village grew stronger and more powerful than his neighbours. Finally his descendants became rulers were known as Pharaohs and there subjects worshiped them as gods  [10]  . The first Pharaoh to rule the Kingdom of upper and lower Nile was Menes, but Hyksos was the first ruler who organized the army and gave birth to the ancient military culture of Egypt. The Hyksos dynasty were driven out by Ahmes in 1567 BC, and from his time onwards, the practice of methods of war became an essential part of the Pharaohs training curriculum. The cities needed dedicated people to defend them and the state needed a powerful army to implement its policies within and without. The Army was the only tangible instrument of power, so great care was take n to indoctrinate its members in a way that that believed in the divinity of the monarch. The important components were: ­- (1) Chivalry. (2) Courage. (3) Honour. (4) Duty. (5) Patriotism. (6) Sense of Sacrifice. (7) Fidelity. (8) Unquestioned Obedience. (9) Divinity of the Cause. b. Military Culture of the Greeks. Greeks are a part of our mental furniture, our cultural baggage. Alternatively, they are the rock on which the painfully constructed edifices of our experiences actually rest  [11]  . But which Greeks are they, precisely, whom we should look back to, to trace the genesis of military culture? Alexander, the greatest flag bearer of Greek Culture, was not a Greek but a Macedonian. Nevertheless, Greeks were a warrior people. War, as Heraclites of Ephesus put it round about 500 BC, is the king and father of all things and all men, some he makes free some slaves. War in ancient Greece, defined the political rights and responsibilities of citizens and colonies, as well as providing a peculiarly demanding test of brute physique and mental strength. It drew the line between the free and the unfree both within the Greek world and between the Greeks and the surrounding barbarian or non-Greek cultures. Apart from their cardinal values of their military cult ure, the Greeks had moral opposition to militarism that sets classical Greek military culture apart from that of the peoples, ancient or modern, making it ancestral in particular to Western military culture  [12]  . ROOTS OF MILITARY CULTURE OF SUB CONTINENT 7. The Indus Valley civilization and culture emerged in about 2500 B.C. Later in 3rd century BC, King Ashoka gave a concept of highly trained and professional Army to the subcontinent. Military culture based on Ashokas values of bravery and wisdom, flourished in the land for the centuries to come. Early Muslim Conquests and Our Military Culture (1) In early 8th century, Muhammad Bin Qasim defeated Raja Dahirs army at Hyderabad. This exposed people of Subcontinent to the Islamic military culture based on brotherhood, bravery, justice, equality, honour and sacrifice. (2) The next major exposure to our military culture was of Muslim sultanate which was established in Delhi by early 13th century. In 16th century the Mongols, who were the decedents of Genghis Khan swept over the mountain passes from Central Asia came to this region. Now, besides the balanced culture of Islam, the harsh culture of YASA (the constitution of the Genghis Khan), the cast-ridden culture of Hinduism and soft culture of Buddhists and Confucius got induced into the military culture of Subcontinent. The British Colonial Era (1) The next cultural big bang occurred due to the arrival of British on the scene. The British restructured and reorganized the local forces. British Raj influenced various facets of our military culture like customs, institutions, and ceremonies. (2) In British Indian Army, religious tendencies were not advocated; rather British officers laid emphasis on loyalty, duty and regimentation. They presented new ideas like mess culture and the creation of rank of Junior Commissioned Officer (JCO). They also created phenomenal training institutions like Military College Jhelum and Command and Staff College Quetta. So our military culture till independence was a cluttered culture of various civilizations and did not have a single theme to be pursued. Transition Period (1947 1953). 1947 brought new dreams, new hopes and new challenges for the new army. That was the right time to identify our true military culture and shun all unwanted elements. But unfortunately that could not happen because at the time of independence Pakistan Armed Forces were deficient of officers. The shortage of officers, forced Pakistan Armed Forces to retain almost 500 British officers on contract at senior command and staff appointments, who maintained status quo. Therefore, Pakistan Armed Forces could not find their cultural identity in its new composite entity. Disengagement of the residual British officers in 1953 was the beginning of the development of a new military culture. Consolidation Era (1953 1971). This phase witnessed political instability and the appointment of General Ayub Khan as the Commander-In-Chief. This era brought the idea of Martial Law in the Pakistan Armed Forces. Present shortcomings in our present military culture, due to interactions with the civilians, have their roots embedded in the time frame of consolidation era i.e. from 1953 to 1971. Another important happening in this time frame was the realization that we should give away the British traditions and in this search of our identity and national pride, the pride in affiliation with the British Crown was disowned by symbolic removal of the word Royal that preceded all unit designations. This era also saw 1965 War. The armed forces enjoyed an intimate backing from the civilian masses and the war made soldiers as national heroes. e. Period From 1971 1977 (1) This era witnessed the darkest turn in our National history. Nation faced a political defeat in a military arena. (2) On the contrary, the strength of the Armed Forces was not decreased and the Government maintained a strong and efficient military. Our culture did not change much in this period but the masses and the Armed Forces started feeling the requirement of integrating the Islamic values into their daily lives. f. Period From 1977 1988 (1) This era again brought the Armed Forces to the center stage of national politics. In this phase, religion remained central to General Zias philosophy. Changes such as comprehensive ban on drinking were implemented. A cultural shift from a westernized life style to a more Islamic life style started to begin. (2) Military co-operation with other countries improved. It was estimated that about 30,000 Pakistani troops were stationed in 24 different countries in 1983. This brought a wave of prosperity among the officers and men. There was a swift shift of culture in this time frame from western style to core oriental and Islamic way of military life style. This was the era whose impressions can still be found in our present military culture. Period From 1988 1999. This era was characterized by democratic rule and political instability. In a span of seven years, four governments were changed. Due to self interest of various political parties, the political atmosphere remained charged. In spite of tall claims, the economic state depleted and foreign investment decreased due to rampant corruption, deteriorating law and order and political instability. During this decade, both India and Pakistan became overtly nuclear. This gave a temporary boost to National spirit and the public sentiments aroused. This was immediately followed by the Kargil Campaign. Our culture, however, did not change much during this decade. Period From 1999 to 2007 (1) General Pervaiz Musharaf took over as Chief Executive after military coup. Qualified / suitable Retired military / civilians were appointed as heads of prime organizations which gave an economic boost to these organizations. This era also attracted foreign investment, offered better job opportunities and increase in foreign exchange reserves. Some of its achievements were:- (a) WAPDA was saved by the Army from total disaster. (b) Pakistan Railways was rescued and it started giving profit. (c) Steel Mill also started giving profit. (d) Media became independent and a lot of private channels were opened. (2) The events of 9 / 11 changed the complexion of international environment and perception of our people. Government decided to become an ally of NATO forces on Global War on Terror (GWOT). Effects of this strategic shift can be seen even today. In later stage of his reign General Musharraf lost his pride as a leader which had direct influence on the image of the Army. This era can conveniently be termed as one man show. The episode of Dr Abdul Qadir Khan, assassination of Akbar Bugti, Lal Masjid operation and removal of Chief Justice, holding of President office being in uniform and emergency declared on 3rd Nov 2010 were some of the controversial decisions resulted in the decline of Musharafs era. i. 2008 till todate (1) Army pulled out from all political institutions. Elections were held and Political Government was set in. Inefficient people with accelerated promotions got appointed as heads of prime institutions. At occasions, National and Provincial Assemblies gave a picture of fish market. The institution which had the public mandate lost its value, resultantly all organization from transport (PIA and railways) to energy sectors are on verge of collapse. Corruption, lawlessness, injustice, worst energy short fall, unabated inflation and price-hike have further compounded the situation in the country. There seems to be no strategy to give relief to the commoners. Uncontrolled and un-steered media became a monster. Instead of providing strength to the society it started to bash various organizations with Army as no exception. Presently, talk shows have become famous for blame game and use of un-parliamentary language. Some of the under mentioned incidents clearly show planned Army bashing by m edia and politicians:- (a) 2nd May incident. (b) Memogate scandal. (c) Salala post incident. (d) North Atlantic Treaty Organization supplies issue. (2) However, during this period Army totally remained focused on military affairs and improved its image. Professionalism came back and training took the center stage. Some of the highlights of this period are appended below:- Army level war games (AzmeNau series). Year of soldier with introduction of Base line menu. Pay package was considerably increased. Introduction of Yum e Shuhada including Shuhada package. Year of training focusing back to basics. Army level study periods. Incentive of free uniform and plots for JCOs / soldiers. Revision of policies. Improvement in Information Technology environment (inclusion of Office Automated System). Success of Military Operation in Swat. Management of Internally displaced personnel (IDPs). Introduction of combat dress. Enhanced accountability. PART II Organizational / Role Changes over Past Decade in Pakistan Army 8. Organizational Changes. After the incident of 9/11 and the following Global War on Terrorism brought not only changes to the Pakistani Society but also had definite changes onto the military culture of Pakistan Army. It changed the outlook of almost entire army as to how it looked before its commitment in the Sub Conventional Warfares operations. It definitely had some positive aspects to its credit but as far as military culture is concerned it brought some drastic unwanted changes and deformation. The organizational changes that took place during this decade were:- a. Commitment of Army in civilian affairs to include monitoring of various state run institutions which were decaying due to inefficiency, which included:- (1) WAPDA. (2) Government educational institute. (3) Hospitals. (4) Census. (5) Elections. (6) Railways. (7) Pakistan Steels and others. b. Pakistan Army moved to the lawless Federally Administered Tribal Area along the Durand line after the invasion of Afghanistan by United States of America. Pakistan Army moved to these areas for the first time after the independence. The units and formations those were deployed have a changed role not previously practiced or known to them. They were not properly trained for this type of warfare. These units had to undergo changes not only in their role but also in their military culture due to the changed environment. These changes in the military cultures were demand of the situation and time. With the passage of time these unwanted deformation in the military customs and cultures came with these changes in the organization and roles of the units and formations of army. 9. Evolution of Special Units/Outfits. The last decade saw changes in terms of evolution of specialized outfit and units. The raising of these units, outfits and organizations vastly improve the combat potential of the Pakistan Army. The evolution and raising of these new units and outfits was the need of the hour. These specialized units were trained; equipped and stationed at special locations in consonance with their operational roles. The examples in case are Light Commando Battalions and Units of Army Strategic Force Command. Due to their peculiar roles and task, these units were cut off from the routine life of a cantonment; adversely affecting the military culture of these outfits. 10. Establishments of Satellite Station/Cantonments. In the last one decade, Indian Army has been evaluating and practicing its Pro Active Operations Strategy. This strategy has serious consequences for Pakistan Army resulting in the construction and establishments of new forward cantonments/satellite stations. Pakistan Armys response to Indians Pro Active Operations Strategy is New Concept of War Fighting. This entailed moving of troops to forward locations during the peace time. This factor has further put troops and officers away from the main cantonments and away from the military cultures. This also includes affecting the training and grooming of all ranks. 11. Strengths of Military Culture. Pakistan Armed Forces enjoys the reputation of being a professional combat force capable of taking on any operational task. This has been proved time and again by our troops engaged in the nation building, United Nations peace keeping missions and during war with India. Some of the strengths of our military culture are:- a. Symbol of National Unity. Ever since its emergence, military has maintained its nationalistic ethos despite various cultural, ethnic, religious rifts gripping Pakistani society. The military has a stature of being above these, thus acting as a unifying force for the country. The role it played in subduing the anti national forces has earned them the respect and are being viewed as the Symbol of National Unity. b. Strength of Institution. The institution of armed forces is constituted on strong ideological foundations of defense of the motherland from internal and external threats. c. National Army. Military culture has an inherent flexibility of warmly accepting all individuals without any discrimination of caste, creed or colour. A large number of Balochi Youth has been inducted in all arms and services of Pakistan Army not only to bring them in mainstream but also to make Pakistan Army as true National Army. It approves healthy competition of achieving professional excellence and rightful doings. d. Religious Values. The recruitment of armed forces is carried out on voluntary basis. Because of the inherent religious strength of our society the desire for martyrdom has always been the prime facet of our military culture. e. Fair System. Military has a s

Dreams in F. Scott Fitzgeralds The Great Gatsby Essay -- F. Scott Fit

Dreams in F. Scott Fitzgerald's The Great Gatsby The Great Gatsby by F. Scott Fitzgerald, is a novel about the American Dream. In the Great Gatsby, the dream is that one can acquire happiness through wealth and power. To get his happiness Jay attempts to reacquire the love of his lost sweet heart, Daisy. The main problem with Jay's dream is that Daisy is married. Gatsby's personal dream symbolizes the larger American Dream 'The pursuit of happiness'. Jay Gatsby longs for the past. Surprisingly he devotes his adult life trying to recapture it and dies in its pursuit. In the past, Jay had a love affair with a young rich girl, Daisy. Daisy and Jay had fallen in love with each other in spite of knowing that they could not marry because of the difference in their social status. For the first time in Jay?s life he was truly happy. During their courtship, Jay was sent off to war. Upon returning from the war, Jay found out that Daisy had married a wealthy man by the name of Tom Buchannon. Jay then spends his life acquiring wealth to reach her economic standards, in hope that he can marry her and rekindle the happiness that he once had. His love for Daisy was impossible in society because "he was at present a penniless young man without a past?he had no comfortable family standing behind him" (156). Gatsby encounters his dream of love at this point of his life. He knew that at that time a relationship of love was impossible with Daisy due to his low social standing. Gatsby became determined to breach that gap between them in order to have a loving relationship with Daisy. He did reach the physical circumstances necessary to love her, but he had focused too much on money and power the previous five years of his life. He wanted his love with Daisy to flourish. Unfortunately, he had lost the ability to love. He no longer possessed moral integrity or the ability to handle a relationship. Society is often broken up into different social groups by their economic status. Those of lower classes believe that their problems will go away if they can gain enough wealth to reach the upper class. Many people believe that the American Dream is this joining of the upper class, and once reaching that point, not having to be concerned about money at all. The logic behind this is that being poor keeps people from being happy, a... ... past. And finally, Jay?s dream was his own death, in that the rest of his life was spent trying to relive the past. His dream consumed his life so much that it had changed him to the point where he was no longer a human. He was more of a zombie who was driven to do anything it would take to realize his dream. The Great Gatsby as he came to be known, was just a young boy who wanted love more than anything else in life. His strong ambition, and immoral ways to achieve his dream took him to his grave. His life in this story is one of constantly wanting what other people have, whether it is money, social standing, or another man?s wife. It is my belief that is what F. Scott Fitzgerald wants us to take home with us. The dangers of coveting what other people have. Bibliography: Novelguide.com. ?Novel Analysis, The Great Gatsby.? Online. Available: http://www.novelguide.com/thegreatgatsby/novelsummary.html. June 9, 2000. Andrew Dilling. ?The Great Gatsby Website.? Online. Available: http://www.geocities.com/andrew_dilling/. June 9, 2000. Fitzgerald, F. Scott (1996). The Great Gatsby The Authorized Text. New York, NY: Addison Wesley Longman Inc.

Analysis Taj Hotel

The Indian Hotels Company Limited Analyst Meet Results for the Half Year ended September 30, 2012 November 6, 2012 1 Disclaimer These presentations contain forward-looking statements within the meaning of applicable securities laws. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements Forward-looking statements are not guarantees of future performance and involve risks and uncertainties and other factors that may cause actual results to differ materially from those anticipated at the time the forward-looking statements are made.Future results, performance and achievements may be affected by general economic conditions, regulatory environment, business and financing conditions, foreign exchange fluctuations, cyclicality and operating risks associated with the hospitality industry and other circumstances and uncertainties. Although we believe the expectations reflected in such forward looking stat ements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results will not materially differ.We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise Please visit our communications corporate website www. tajhotels. com for previous investor 2 Presenter Panel Raymond Bickson – Managing Director & CEO Anil P Goel – Executive Director – Finance Abhijit Mukerji – Executive Director – Hotel Operations Deepa Harris – Senior Vice President – Sales & Marketing 3 Outline of Presentation Industry Trends New Inventory Sales & Marketing Initiatives Financial Results Industry Trends 5 International Tourist Arrivals 2012 International tourist arrivals worldwide grew by 5% in the first 6 months of 2012 to 467 million international travelers, consolidating the growth trend that started in 2010. International Tourist Arrivals were up in all regions of the world, with advances and emerging economy destinations growing at about the same pace. First 6 months of the year typically account for 45% of the tourist arrivals since most of the Northern Hemisphere performs much better in the second half which is its peak season.Source : UN WTO 6 Global Hotel Performance January – September 2012 Americas and Middle East showed a moderate growth in Key Performance Indicators over last year Asia Pacific market saw an overall moderate growth in occupancy and ADR for most of the first 9 months of 2012 In the Indian subcontinent, both rates and occupancies lagged behind last year, owing mostly to increased supply and resulting in an overall RevPAR 13% below last year Source : STR Global 7 Foreign Tourist Arrivals in India 2012 vs 2011 Foreign Tourist Arrivals in India (In Lakhs) 8 7 6 5 4 3Jan Feb Mar Apr May 2011 June July 2102 August Sept Oct Nov Dec April-Sep :+3. 4% Jan- Sep :+5. 9% growth over last year Growth in Tourist Arrivals in India has slowed down and increased to 2. 6 mn travelers in April – Sep 2012 which was a 3. 4% growth over 2011 vs 9. 3% growth in April – Sep 2011 over 2010. Growth for Jan-Sep 2012 was 5. 9% over 2011 against vs 9. 9% in Jan-Sep 2011 over 2010. The traditional source markets of US , UK and Western Europe continue to be the majority contributors to arrivals in India Source : Ministry of Tourism, Government of India 8India Hotel Performance – Key cities April to September 2012 April – September 12, % change in Market Scenario 70. 0% 61% 60. 0% 50. 0% 40. 0% 30. 0% 20. 0% 10. 0% 0. 0% India Goa Mumbai Delhi Jaipur Bangalore Chennai Hyderabad Supply % change Demand % change 23% 20% 9% 4% 6% 32% 25% 32% 31% 26% 20% 49% 40% 33% 4% There has been overall a 23% increase in Supply in H1 compared to last year. Demand growth has been moderate at 20% in summers and expected to pick up in H2 and winters Source : STR Global 9 India Hotel Performance – Key cities April to September 2012 April – September 12, % change in performance 0% 5% 0% -5% -10% -15% -20% India Goa Mumbai Delhi Jaipur Bangalore Chennai Hyderabad Occ % change ADR (INR) % change -3% -5% -2% -4% -1% -5% -9% -11% -7% -8% -11% -3% -5% -5% 5% 1% The Demand – Supply mismatch has put a pressure on occupancies and Average rates compared to last year across all key metros Overall this has led to a 7% decrease in RevPAR in the Indian Hospitality Industry in the first half of the Financial year Source : STR Global 10 Occupancies – Year on Year Trend 56 54 59 58 58 55 56 61 52 58 62 54 51 46 46 65 Delhi India Bangalore Hyderabad Mumbai Chennai Jaipur H1 2011/12Source: STR Global Reports H1 2012/13 Lower occupancies across all cities except Goa 11 Goa ARRs –Year on Year Trend 7910 7606 7224 6559 5929 5648 6717 6198 5945 5765 5344 4778 4092 3645 4949 4980 Delhi Bangalore Hyderabad Mumbai H1 2011/12 S ource: STR Global Reports H1 2012/13 Rates lower across all cities barring Goa Chennai Jaipur India Goa 12 Rev PARs – Year on Year Trend 4700 4408 4185 3595 3323 3077 3771 3219 3653 3369 2882 2446 1898 1679 3059 3219 India Mumbai Chennai Jaipur Delhi Bangalore H1 2011/12 Source: STR Global Reports H1 2012/13 RevPAR lower across all cities barring GoaHyderabad Goa 13 New Inventory 14 Supply Pipeline As of September 2012 Asia Pacific the Growth Centre for Investments in the Industry No of Rooms in Pipeline September 2012 As Pac, 377397, 38% Americas, 363568, 36% MEA/Africa, 122942, 12% Europe, 141554, 14% The demand in Asia Pacific is supported by the growing supply coming into these countries from international brands and the largest pipeline worldwide The highest growth in As Pac region is in the Upscale segment The Americas continue to see a high active pipeline, here too mainly in the Upscale segment Source : STR Global 15Taj Group Inventory 112 99 103 107 115 62 66 76 82 8 8 16 Hotels Opened 2012/13 Hotel Taj Taj Palace Marrakech, Morocco (Soft Open) Vivanta by Taj Vivanta by Taj, Madikeri, Coorg Ginger Hotels Ginger Hotel Faridabad Ginger Hotel Vadapalani (Chennai) Ginger Hotel Andheri (Mumbai) Roots Corporation Ltd Roots Corporation Ltd Roots Corporation Ltd 91 79 116 Management Contract 62 Management Contract 161 Company Rooms Hotels Opened Till Date 2012/13 5 Hotels 509 Rooms 17 Taj Palace Marrakech, Morocco 18 Vivanta by Taj, Coorg 19 19 Upcoming Development – Balance of 2012/13Hotel Vivanta by Taj Vivanta by Taj, Gurgaon Gateway Gateway, Kolkata Gateway, Hubli Gateway OMR, Chennai Ginger Hotels Ginger Hotel Jaipur Ginger Hotel Kormangla (Bangalore) Ginger Hotel Noida (NCR) Ginger Hotel Amritsar Management Contract Management Contract Management Contract Roots Corporation Ltd 103 67 80 60 200 92 193 Management Contract 200 Company Rooms New Development in Pipeline 2012/13 New Hotels Opened Till Date 2012/13 8 Hotels 5 Hotels 995 Rooms 509 Rooms 1,504 Rooms 20 20 TOTAL DEVELOPEMNT FY 2012/13 13 Hotels Vivanta by Taj, Gurgaon 21The Gateway Hotel, Kolkata 22 The Gateway Hotel, Hubli 23 Upcoming Development– 2013/14 Hotel Taj Taj Airport Hotel, Terminal 1C, Mumbai Imperial Club by Taj, Tardeo, Mumbai Vivanta by Taj Vivanta by Taj, Dwarka Gateway Gateway, Hinjewadi, Pune Gateway, Raipur Gateway, Gondia Gateway, Faridabad Ginger Hotels (Six in Number) Management Contract Management Contract Benares Hotels Ltd Management Contract Roots Corporation Ltd 150 119 34 150 534 IHCL 250 Taj GVK Management Contract 275 9 Company Rooms New Development in Pipeline 2013/14 13 Hotels 1,521 Rooms 24Imperial Club by Taj, Tardeo, Mumbai 25 25 Vivanta by Taj, Dwarka 26 26 Sales and Marketing Initiatives 27 Strategy to Drive Incremental Revenues Surprises Campaign (Apr – Oct 2012) Tactical promotions campaign that is now launched every summer to address the seasonal drop in demand. Relaunched on 26th March 2012 for Summer 2012 Provides unique value proposition to customers with the following objectives – Drive SpendPAR – Drive Loyalty – Increase Capacity Utilization in lean months Campaign Programs – Flexi Credits – Suite Celebrations – Stay a Bit Longer 28Leisure focus – Domestic Dominance Taj Holidays – Summer, Monsoon, Winter Adopted a Destination led approach that we supported through an integrated marketing campaign. (Goa, Kerala, Indian Ocean, Small Palaces, Grand Palaces, Taj Safaris) Objective – tap the growing domestic holiday market in our lean season Advertising campaign was spread across pre-opening, summer and monsoon planks Interactive Roadshows in major feeder cities for travel trade and potential end users from the city 9 Leisure Focus – The High end Traveler Taj Hotels Resorts and Palaces Customer Outreach by Taj at Travel + Leisure Global Bazaar, New York , September 2012 Annual travel trade and consumer show organized by Travel + Leisure attended by over 5000 media, travel trade and consumers over 3 days in New York The innovative customer experience installation to communicate the Taj luxury positioning and service experience at the suites of the Taj Grand Palaces.Supported by promotional activity and editorial coverage Channel Outreach through Taj Travel Awards at Taj Mahal Delhi , July 2012 Instituted two years ago it is the only award ceremony initiated by a hotel group to acknowledge and felicitate the inbound DMCs in India for their support and contribution. This year’s event drew 200+ prominent DMCs and travel trade press from across the country for a splendid evening of Awards ceremony, sit-down silver service dinner and entertainment. 0 Driving Revenues Taj Hotels Resorts and Palaces Visibility Increased visibility through advertising campaign Enhanced focus on India Advertising in leading newspapers, general interest magazines, business magazines, lifestyle magazines and travel related magazines Driving Incremental Revenues from Corporates Winning back lost customer campaign Long stayer program for targeted accounts Channel based campaigns for Hit accounts 31Building the newest Brand Vivanta by Taj – Hotels & Resorts Launch of the signature Fuse 2. 0 Cocktails in an exclusive partnership with Diageo and Canali, August 2012 A Vivanta innovation launched in 3 key cities via a roadshow 6 signature cocktails each being a tribute to a Vivanta city Generated tremendous PR coverage and social media noise Brand Personification and Experiences Season 2 of both Divas of Rock and Urban Folk premiered at Vivanta Whitefield and Vivanta Begumpet Hyderabad.The Vivanta Motifs campaign went live across select media print, digital and social Awards & Accolades Vivanta by Taj is currently in the top 10 rank amongst 147 of the global pages on SocialBakers Analytics Vivanta Yeshwantpur Bangalore was ranked amongst the best 100 business hotels of 2012 by Wall paper UK Vi vanta Whitefield won the Emirates Leaf Design awards for the best commercial design world wide 2012 Vivanta Bekal voted the 8th best new spa destinations by Conde Nast India 32Enhancing the Brand Experiences The Gateway Hotels & Resorts The Gateway Hotel Residency Road Bangalore Relaunch, September 2012 Relaunched via a successful Customer and Media event Great PR Thrust, focus being revamped product post extensive renovations, the new lobby and spectacular F&B offerings Integrated marketing campaign Active Foods Campaign Extensive campaign marketing Gateway’s Active Food Conducted at all Coffee Shops with new menus, posters and tent cards across all hotels Supported by a media campaign (print, OOH, online and social) Contests in social media in the run up to the Olympics 3 Awards & Accolades Recognition in the Travel + Leisure Global Vision Awards for Leadership in Corporate Social Responsibility activities. The Awards recognize the outstanding efforts of individuals and org anizations that are working to preserve the world's natural and man-made treasures and contributing to building and sustaining livelihoods. Best Business Hotel Chain in India at the Business Traveler UK Awards 2012. Featured in Travel + Leisure World's Best Awards 2012 list of Top 100 hotels in the world and Top Resorts in Asia.Featured in the Travel + Leisure World's Best Awards 2012 list of Top City Hotels in Asia Amongst the Top 10 hotels in the world by Expedia. com's Insiders' Select based on consistent delivery of values, competitive pricing and impeccable customer service. Honoured as ‘Most Inspirational Eco Lodge of the Year’ at the 2012 Tour Operators for Tigers (TOFT) Wildlife Tourism Awards Ranked #1 Overseas Leisure Hotels in Asia and the Indian Subcontinent, Conde Nast Traveller UK Readers' Travel Awards 2012 34 Standalone Financial Performance Six Months ended September 30, 2012 35 Profit and Loss Account H1 2012/13 /Crores Net Sales/Income from Operations Other Operating Income Total Income a. Consumption of Raw Materials b. Employee Benefits Expense c. License Fees d. Fuel, Power and Light e. Depreciation and Amortisation Expense f. Other Expenditure Total Expenditure Profit/ (Loss) from operations before Other Income, Finance Costs and Exceptional Items Other Income Profit/ (Loss) before Finance Costs and Exceptional Items Finance Costs Profit/ (Loss) after Finance Costs but before Exceptional Items Exceptional items Profit/ (Loss) before tax Provision for Taxes Profit/ (Loss) After Tax 2012/13 775. 8 775. 48 73. 05 240. 22 51. 97 79. 41 63. 08 244. 62 752. 35 23. 13 33. 23 56. 36 53. 23 3. 13 (6. 70) (3. 57) (1. 24) (2. 33) 2011/12 727. 10 727. 10 64. 69 226. 91 44. 01 65. 43 55. 50 219. 77 676. 31 50. 79 35. 47 86. 26 50. 08 36. 18 9. 81 45. 99 16. 33 29. 66 % Change 7 7 (13) (6) (18) (21) (14) (11) (11) (54) (6) (35) (6) (91) – 36 Turnover H1 2012/13 ` crores Room sales F&B sales Other Income Management Fees 2012/13 354. 76 317. 80 52. 88 50. 04 2011/12 343. 89 287. 65 49. 55 46. 01 % Change 3 10 7 9Total Income Non – Operating Income Total Income including Other Income 775. 48 33. 23 808. 71 727. 10 35. 47 762. 57 7 (6) 6 Room revenue growth driven by 3% increase in average daily rooms sold including capacity increase Higher F&B sales due to increase in restaurant sales and banqueting business Management fee linked to higher turnover and profitability of non IHCL hotels 37 Expenditure Raw Materials Cost – ` 73. 05 crores Increase in line with 10% higher F&B revenue and commodity input cost increase Staff Cost – ` 240. 2 Crores Increase due to launch of new hotel in Bangalore, wage settlements, annual increments etc. License Fees – ` 51. 97 crores Increase on account of higher turnover of licensed properties Fuel, Power & Light – ` 79. 41 crores Higher on account of increase in rates and new capacity 38 Expenditure Depreciation & Amortisation – ` 63. 08 cro res Higher due to opening of new hotel in Bangalore and renovations in select hotels Other Expenditure – ` 244. 62 crores Increase in variable costs linked to business, full period cost of new hotel in Bangalore & higher A&P spendsFinance Costs – ` 53. 23 crores Increase due to ECBs taken to retire debt in Company’s offshore subsidiary 39 Exceptional Items Expense of ` (6. 7) crores in the current year against an income of ` 9. 8 crores in the previous year `/ Crores Particulars Income/(Expense) on surrender of a project (Net off accumulated capital expenditure) Exchange gain/(loss) Total 2012/13 (6. 7) (6. 7) 2011/12 10. 6 (0. 8) 9. 8 40 Statement of Assets & Liabilities September 30, 2012 ` / CroresShareholders’ Funds Non- Current Liabilities Long-term borrowings Long Term Provisions Other Long Term Liabilities/ Deferred Tax Liabilities Current Liabilities Short Term borrowings Other Current Liabilities Trade Payables/Short-term provisions Equity and Li abilities Non-current Assets Fixed Assets Non-current investments Long Term loans and advances Other non-current assets Current Assets Current Investments Short term loans and advances Other currents assets/ cash & bank/ inventories/ trade receivables Assets 71. 28 112. 50 229. 51 7614. 34 71. 87 227. 05 7363. 8 2066. 91 3622. 19 1495. 19 16. 76 2068. 36 3622. 19 1346. 93 27. 58 247. 52 406. 77 168. 88 7614. 34 122. 57 789. 58 280. 08 7363. 98 2287. 24 78. 20 757. 17 2039. 94 95. 93 668. 07 September 30, 2012 3668. 56 March 31, 2012 3367. 81 41 Consolidated Financial Performance Six Months ended September 30, 2012 42 Major Taj Group companies Subsidiaries Indian Piem Hotels Ltd Taj SATS Air Catering Ltd Tifco Holdings Ltd [Investment Company] Benares Hotels Ltd Inditravel Pvt Ltd United Hotels Ltd Roots Corporation Ltd Overseas International Hotel Management Services, Inc.St James Court Hotel Ltd IHMS (Australia) Pty Ltd Taj International Hotels (HK) Ltd [Investment Company] Samsara Properties Ltd [Investment Company] Others 43 Associates Oriental Hotels Ltd Lanka Island Resorts Ltd TAL Lanka Hotel PLC Others Joint Ventures Taj GVK Hotels & Resorts Ltd Taj Madras Flight Kitchen Pvt Ltd Taj Kerala Hotels & Resorts Ltd Taj Karnataka Hotels & Resorts Ltd Taj Safaris Ltd TAL Hotels & Resorts Ltd [Investment Company] Others Consolidated Financial Results H1 2012/13 Consolidated results show a loss of ` (91) crores against a loss of ` (70) crores.Key factors influencing the consolidated results are listed below: Domestic Portfolio – Lower profit from operations, lower dividend income & foreign exchange translation loss on borrowings – Previous period had an exceptional gain on account of interest income on surrender of a project International Portfolio – Samsara Properties Limited debt fully retired through equity funding from IHCL – Despite growth in turnover, US hotels continue to face challenges 44 Consolidated Financials H1 2012/13 `/ Crores Net Sales/Income from Operations Other Operating Income Total Income a. Consumption of Raw Materials b.Employee Benefits Expense c. License Fees d. Fuel, Power and Light e. Depreciation and Amortisation Expense f. Other Expenditure Total Expenditure Profit/ (Loss) from operations before Other Income, Finance Costs and Exceptional Items Other Income Profit/ (Loss) before Finance Costs and Exceptional Items Finance Costs Profit/ (Loss) after Finance Costs but before Exceptional Items Exceptional item Profit/ (Loss) before tax Less: Provision for Taxes Less: Minority Interest in Subsidiaries Add:Share of Profit(Loss) in Associates Profit( Loss) after Tax 2012/13 1666. 37 1666. 37 177. 56 629. 05 84. 04 143. 30 145. 2 492. 55 1671. 62 (5. 25) 35. 03 29. 78 81. 76 (51. 98) 1. 28 (50. 70) 8. 71 (24. 67) (6. 77) (90. 85) 2011/12 1455. 50 1455. 50 160. 72 540. 84 66. 73 117. 27 129. 29 417. 68 1432. 53 22. 97 39. 81 62. 78 110. 45 (47. 67) 4. 26 (43. 41) 27. 05 (10. 56) 10. 69 (70. 33) % Change 14 14 (10) (16) (26) (22) (12) (18) (17) (123) (12) (53) 26 (9) (70) (17) 68 (134) (163) (29) 45 Consolidation Snapshot `/Crores Revenue 2012/13 IHCL Standalone Subsidiaries Joint Ventures Associates Total Less/(Add): Inter Company Eliminations Consolidated Performance 1716. 7 50. 3 1666. 4 1498. 5 43. 0 1455. 5 775. 5 862. 1 79. 1Profit after tax & Minority Interest 2012/13 (2. 3) (43. 7) (8. 6) (6. 8) (61. 4) 29. 5 (90. 9) 2011/12 727. 1 701. 1 70. 3 2011/12 29. 7 (80. 0) (4. 2) 10. 7 (43. 8) 26. 5 (70. 3) 46 Treasury Liquidity raised/ committed Received ` 373 crores in June, 2012 on conversion of warrants by Tata Sons Ltd Raised ` 200 crores by issuing low coupon unsecured NCDs Funds Utilized Repayment of ECB in April, 2012 – $ 30 million Repayment of Fixed Deposits between April to October, 2012 – ` 285 crores 47 International Hotels Occupancy (%) Hotel Name H1 2012/13 H1 2011/12 ARR ($) H1 2012/13 H1 2011/12 RevPAR ($) H1 2012/13 H1 2011/12The Pierre, New York 63 67 620 571 391 382 Taj Boston 74 71 296 287 218 202 Campton Place, San Francisco 79 75 290 287 229 216 St. James Court, London 88 85 318 299 278 253 Blue, Sydney 75 76 221 230 165 176 48 Overview of Taj Group – H1 Particulars Number of hotels 2012/13 115 2011/12 110 2010/11 107 2009/10 103 Rooms Inventory 13,887 13,237 12,795 12,243 Total Revenue – ` / crores 2,288 2,069 1,822 1,603 Total Revenue denote arithmetic aggregate of turnover of all hotels/units irrespective of ownership, including Management Contracts 49 Thank you 50