...Governance Wayne Soverall1 Abstract The corporate collapse on January 30, 2009 of CLICO, the largest conglomerate in Trinidad and Tobago and the Caribbean, is the worst financial shock experienced by the region to date. Today, more than two years later, its devastating effects are still being felt as the government continues to struggle with the bailout to stabilize the financial system, mitigate contagion risk, and resolve the CLICO crisis. Even one year after the bailout, there was still no resolution of the crisis. In view of the intractable nature of the CLICO collapse, the People’s Partnership government that came to power on May 24, 2010 established a commission of enquiry to investigate the causes of CLICO’s collapse, the scope of the MOU, the cost of the bailout, and the failure to provide a bailout to the Hindu Credit Union (HCU) that collapsed in 2008. There are many questions that are still unanswered. What were the root causes of CLICO’s collapse? What corporate governance structures and practices precipitated the collapse? Did the bailout create moral hazard? Who or what was to blame for the collapse? What action has the government taken to date? What lessons have been learnt and, more importantly, how can this situation be prevented from being repeated in the future? This concept paper examines these questions, analyzes the evidence to find answers, and in the conclusion, suggests ways to improve corporate governance and the empowerment of regulators to provide competent...
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...Governance Wayne Soverall1 Abstract The corporate collapse on January 30, 2009 of CLICO, the largest conglomerate in Trinidad and Tobago and the Caribbean, is the worst financial shock experienced by the region to date. Today, more than two years later, its devastating effects are still being felt as the government continues to struggle with the bailout to stabilize the financial system, mitigate contagion risk, and resolve the CLICO crisis. Even one year after the bailout, there was still no resolution of the crisis. In view of the intractable nature of the CLICO collapse, the People’s Partnership government that came to power on May 24, 2010 established a commission of enquiry to investigate the causes of CLICO’s collapse, the scope of the MOU, the cost of the bailout, and the failure to provide a bailout to the Hindu Credit Union (HCU) that collapsed in 2008. There are many questions that are still unanswered. What were the root causes of CLICO’s collapse? What corporate governance structures and practices precipitated the collapse? Did the bailout create moral hazard? Who or what was to blame for the collapse? What action has the government taken to date? What lessons have been learnt and, more importantly, how can this situation be prevented from being repeated in the future? This concept paper examines these questions, analyzes the evidence to find answers, and in the conclusion, suggests ways to improve corporate governance and the empowerment of regulators to provide competent...
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...OUTLINE Introduction A. What effects can produce oil prices increase? a. Brief history and evolution in oil markets b. Causes of the increment in oil prices B. Colombia on the two sides of oil prices rise effects c. Brief description of effects d. Brief history of petroleum industry Body I. International context a. Global situation of oil prices b. Volatility and Dutch disease II. Colombia Case c. analysis of effects in the macroeconomic view: inflation and currency appreciation Conclusion A. Which are the solutions to control the harmful effects of oil prices increase B. What strategies are implementing in Colombia to deal with the effects of oil prices increase. Thesis statement Since the 1970s the world hadn`t experienced an oil increase like the one that is happening these days where many countries are concerned about the effects that this phenomenon can bring to their economies. As an oil exporting country, Colombia has to deal with a lot of challenge in order to transform all the revenues from petroleum into benefits to their society. However there are some effects that can bring some instability to this small economy, especially the one that international markets create a speculative bubble which can end in the Dutch disease. ‘The Dutch disease is a major market failure originating in the existence of cheap and abundant natural or human resources that keep the currency of a country overvalued...
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...General Chemistry I Bret Lynn For millions of years the changes in Earth’s climate have been driven by forces of nature. Although, for the last century and a half, Earth’s average temperature has been rising faster than any time in the past 10 thousand years. “We’re on a track to 700 parts-per-million of carbon dioxide on the planet, we haven’t seen that for 50 million years”(1). The signs are everywhere: droughts in the American southwest, rising seas in Louisiana, tropical diseases spreading north, and extremes of weather from Florida to France. There are people that still say “global warming need not concern us” and “if it is happening at all, it is a natural trend there is not much we can do about it.” However, there is now hard evidence, which shows that the warming is not only real, it’s accelerating. The warming is altering the climate’s most basic chacteristics like rainfall, days of sunshine, and nighttime temperatures. These changes are damaging the environment and agricultural production, threatening wild species into extinction, and putting at risk human lifestyle, health, and cities near the sea. It starts with the warming. In the Artic, reports of heat waves and droughts seem far away. Over the last 100 years, the world has seen a 1 degree Fahrenheit rise in its average temperature (2). However, in Alaska and Canada, winter temperatures have increased by as much as 5-7 degrees Fahrenheit in the past 50 years (2). Global warming is already having a noticeable...
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...had created a National Response Plan. With the world watching the Federal Government failed the people of New Orleans during Hurricane Katrina. The government failed to show initiative and the ability to provide for the basic needs for the people of New Orleans on many levels, including planning, logistics and communication during the natural disaster and the aftermath of the storm. . Introduction I’m going to discuss several failures of leadership and not just on the federal government but on the city and state as well. There are too many to fault that are identified later in this disaster ranging from pre-planning, during the disaster and post disaster. Hurricanes are natural formations which occur that can’t be prevented but only prepared for. Katrina started as a tropical storm and turned into a hurricane once she reached the Caribbean Islands and on August 24th, 2005, the first alert went out (nhc.noaa.gov). Once Katrina reached the Gulf of Mexico she grew stronger and stronger due to the warm water and...
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...Who’s Eating All the Fish? The Food Security Rationale for Culling Cetaceans A Report to Humane Society International By Wilf Swartz and Daniel Pauly Presented at IWC 60 June 23, 2008 Santiago, Chile Table of Contents Executive Summary ...................................................................................................................... 1 Introduction................................................................................................................................... 2 A re-packaging of the whaling debate ........................................................................................ 2 Fish and food security................................................................................................................. 3 Fish (and food security) in crisis................................................................................................. 4 Marine Mammals: Threat to Food Security? ............................................................................ 7 The ‘whales-eat-our-fish’ argument ........................................................................................... 7 Flaws of the argument................................................................................................................. 7 Political success of the ‘whales-eat-our-fish’ lobby ................................................................. 10 Globalization of Fisheries: A Real Threat to Regional Food Security..............
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...AP World History Survival Guide Name ________________________________ Teacher __________________________ Block _________________ Table of Contents | Pages | AP World History Overview | 3 – 7 | The AP Exam | 3 | World Regions | 4 – 5 | Five Course Themes | 6 | Four Historical Thinking Skills | 7 | Essays Overview | 8 - 15 | Document-based Question (DBQ) | 8 – 12 | Change and Continuity over Time (CCOT) | 13 – 15 | Comparative Essay | 16 – 18 | Released Free Response Questions | 19 – 20 | AP Curriculum Framework | 21 – 38 | Period 1 (Up to 600 B.C.E.)—5% | 21 – 22 | Period 2 (600 B.C.E. to 600 C.E.)—15% | 23 – 25 | Period 3 (600 to 1450)—20% | 26 – 28 | Period 4 (1450 to 1750)—20% | 29 – 31 | Period 5 (1750 to 1900)—20% | 32 – 35 | Period 6 (1900 to the present)—20% | 36 – 38 | Help with Some Confusing Subjects | 39 – 43 | Chinese Dynasties | 39 | Political, Economic, and Social Systems | 40 | Religions | 41 | Primary Sources | 42 | “Must Know” Years | 43 | * Many of the guidelines in this study packet are adapted from the AP World History Course Description, developed by College Board. The AP Exam Purchasing and taking the AP World History exam are requirements of the course. This year, the AP World History exam will be administered on: ___________________________________________ Format I. Multiple...
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...AP World History Survival Guide Name ________________________________ Teacher __________________________ Block _________________ Table of Contents | Pages | AP World History Overview | 3 – 7 | The AP Exam | 3 | World Regions | 4 – 5 | Five Course Themes | 6 | Four Historical Thinking Skills | 7 | Essays Overview | 8 - 15 | Document-based Question (DBQ) | 8 – 12 | Change and Continuity over Time (CCOT) | 13 – 15 | Comparative Essay | 16 – 18 | Released Free Response Questions | 19 – 20 | AP Curriculum Framework | 21 – 38 | Period 1 (Up to 600 B.C.E.)—5% | 21 – 22 | Period 2 (600 B.C.E. to 600 C.E.)—15% | 23 – 25 | Period 3 (600 to 1450)—20% | 26 – 28 | Period 4 (1450 to 1750)—20% | 29 – 31 | Period 5 (1750 to 1900)—20% | 32 – 35 | Period 6 (1900 to the present)—20% | 36 – 38 | Help with Some Confusing Subjects | 39 – 43 | Chinese Dynasties | 39 | Political, Economic, and Social Systems | 40 | Religions | 41 | Primary Sources | 42 | “Must Know” Years | 43 | * Many of the guidelines in this study packet are adapted from the AP World History Course Description, developed by College Board. The AP Exam Purchasing and taking the AP World History exam are requirements of the course. This year, the AP World History exam will be administered on: ___________________________________________ Format I. Multiple...
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...Collapse- book is about a history topic about how societies choose to fail or survive. The main characters are historical people and unknown kings of Mayan cities or Easter Island villages. Jared Diamond tells the story of the Viking explorer Erik the Red, who discovered Greeland and Vinland (Terranova, in Canada). Another character is captain Olafsson, a norse sailor who wrote the last news about Greenland in 1410. Another main character is Christopher Columbus, who arrived at Hispaniola in 1492, but now this island is two countries, the Dominican Republic and the Haiti. Diamond studied the politics of two presidents. the dominican Rafael Trujillo, who protected the enviroment and the dictator François, Papa Doc, Duvalier, who decided on politics of deforestatation of his country, Haiti. The author considered the bad politics of another main character, king George II, who was interested in sending merinosheeps from Spain to Australia, an idea which was succesful from 1820 to 1950 but then the farmers understood their lands lost fertility. Another main character is Tokuwaga Jeayasu, a shogun of Japan in 1600, who prohibited Christianity in 1600 and protected his country againt deforestation. The book takes us to a lot of places around the globe: Mayan cities, Rwanda, Viking colonies of Vinland or Greenland, Haiti and Dominican Republic, Easter Island and Polynesian colonies in Pacific, and the Chaco villages in New Mexico (United States). The time period was from 800 AC, when...
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...TOPIC 1: THE AMERINDIANS Week 1: THE ARAWAKS (Theme One) PAPER: CORE CONTENT----BAHAMIAN-WEST INDIAN HISTORY References: Bahamian History Bk.I by Bain, G. Macmillan,1983 2.Caribbean story Bk. I and II By Claypole, W Longman (new edition) 1987 3. Development to Decolonization by Greenwood R, Macmillan, 1987 4.Caribbean people Bk.I by Lennox Honeychurch. Nelson, 1979 The Migration of the Indians to the New World. It is believed that the people who Columbus saw when he came to the New World were nomadic hunters from central and East Asia who followed the buffalo and deer. When the herds moved, people moved after them because they were dependent on the animals for food. It is therefore suspected that the herds led the people out of Asia by the north-east, across the Bering Strait and into North America. They crossed the sea by an ice –bridge when it was frozen over during the last Ice-Age. They did not know that they were crossing water from one continent to another. Map 1 Amerindians migration from central Asia into North America. The Amerindians settled throughout North America and were the ancestors of the many Red Indian tribes we know today, as well as the Eskimos in the far north. In general, they were nomadic but some followed settled agricultural pursuits and developed civilizations of their own like the Mayas in South America (check internet reference for profile on this group, focus on...
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...Foreign 99 Chapter III Direct investment by China in Latin America and the Caribbean A. Introduction Since 2008, China has become one of the world’s largest sources of direct investment. These flows first reached significant levels in Latin America in 2010, when it is estimated they surpassed US$ 15 billion. Chinese companies have in fact burst on the scene in the region so recently that several of the biggest projects were still being finalized in early 2011, or had only just been put into operation. Most investments have been made in natural resource extraction, but over the medium term this is expected to diversify into other sectors such as manufacturing and infrastructure construction. Paradoxically, there is a lack of data on this extremely important phenomenon, which poses a constant problem for policymakers and analysts studying Chinese foreign direct investment (FDI). Appraisals of the possible opportunities and challenges presented by this increased investment flow therefore tend to lack supporting empirical evidence. The aim of this chapter is to make some progress on this issue, at least as far as investment in the region is concerned. A variety of sources have been consulted, including investment announcements in the media and interviews with Chinese company managers and Latin American and Caribbean government authorities. Despite the evident limitations of this kind of material in terms of data quality and reliability, this course of action does provide...
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...United Nations Development Programme Human Development Report Office This note should be read in conjunction with the Regional/ National Human Development Report Toolkit. While the toolkit provides general guidance on preparing a Regional or National Human Development Report, this note gives specific suggestions on how to approach the concept of human security as a topic for such a report. Human Security A Thematic Guidance Note for Regional and National Human Development Report Teams BY OSCAR A. GÓMEZ AND DES GASPER Contents What is Human Security?............ 2 Getting Started...................................... 4 Selecting objectives and themes...... 4 The process.................................................... 6 Many important aspects of human development relate also to people’s security: loosely defined as people’s freedom from fear and freedom from want in a broad sense. Applying a human security approach offers an opportunity to analyse many issues in an informative way. This note explains how one might go about doing that. Human security relates to much more than security from violence and crime. A report team wanting to look at the security of people’s livelihoods (economic, food, environment or health security) might apply a human security approach. Human security can also be used to look into personal, community and political security. Indeed, human development reports from around the world have applied the approach in other innovative ways. But...
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...CARIBBEAN EXAMINATIONS COUNCIL Caribbean Advanced Proficiency Examination® CAPE® MANAGEMENT OF BUSINESS SYLLABUS Effective for examinations from May-June 2013 CXC A27/U2/13 Published by the Caribbean Examinations Council All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form, or by any means electronic, photocopying, recording or otherwise without prior permission of the author or publisher. Correspondence related to the syllabus should be addressed to: The Pro-Registrar Caribbean Examinations Council Caenwood Centre 37 Arnold Road, Kingston 5, Jamaica Telephone Number: + 1 (876) 630-5200 Facsimile Number: + 1 (876) 967-4972 E-mail Address: cxcwzo@cxc.org Website: www.cxc.org Copyright © 2013 by Caribbean Examinations Council The Garrison, St Michael BB14038, Barbados CXC A27/U2/13 CXC A24/U2/12 Contents INTRODUCTION .................................................................................................................................. i RATIONALE ......................................................................................................................................... 1 AIMS .................................................................................................................................................. 1 SKILLS AND ABILITIES TO BE ASSESSED .............................................................................................. 2 STRUCTURE...
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...Master of Business Administration Sustainability & Innovation International Timeshare Industry SUSTAINABILITY & INNOVATION: INTERNATIONAL TIMESHARE INDUSTRY March 3, 2015 Faculty of Hospitality & Tourism Management Master of Business Administration Table of Contents Abstract 1 CHAPTER 1 – Research Study 2 1.1 Introduction 2 1.2 Research Problem 3 1.3 Research Objective 3 1.4 Research Question 3 CHAPTER 2 – Description of Changing Landscape & Challenging Market Space 3 2.1 Changing Landscape & Challenging Market Space 3 2.1.1 Economic and Industry Analysis 5 2.1.2 Challenges & Strategic Trends 8 2.2 Description and Analysis of Four Key Businesses 9 2.2.1 Marriott’s Aruba Ocean Club 9 2.2.2 La Cabana Beach Resort & Casino 9 2.2.3 Tropicana Aruba Resort & Casino 10 CHAPTER 3 – Research Design and Methodology 10 3.1 Research Design – Data Collection 10 3.2 Methodology – Data Analysis 11 3.3 Quality of the study 11 CHAPTER 4 – Results and Findings 11 4.1 Descriptive Analysis 11 CHAPTER 5 – Conclusion and Recommendations 22 References 24 APPENDIX A – Interviews 25 Abstract The timeshare industry whether large or small are competing on a variety of areas such as luxury, flexibility and service. It is also the least researched segments of the accommodation of tourists. This paper provides a analysis of the current situation of the timeshare industry focusing on innovation...
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...Captain Jack Sparrow in Pirates of the Caribbean: "True enough, this compass does not point north." "...Where does it point?" "It points to the thing you want most in this world.” “If everyone is thinking alike, then no one is thinking.” Saskatchewan as a Player in the Global Resources Market in 2014 Jean-Pierre Colin Capital Markets Strategies JPColin@Sympatico.Ca Mobile: 416-573-4300 2 Synopsis Jean-Pierre Colin draws from his 34 years of experience and wisdom as an investment banker and mining executive to outline criteria for success for mining companies. He also discusses how junior mining company executives in Saskatchewan must “think differently” because: seemingly small decisions by management can affect corporate survival in these times of crisis in the financial markets the new sources of capital that have emerged in the last decade impose important changes in corporate strategy the mining industry in Saskatchewan as a group must promote innovative initiatives to enhance it’s continued importance in the provincial economy. IF EVERYONE IS THINKING ALIKE, THEN NO ONE IS THINKING 3 Survival of an Industry Charles Darwin: “It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.” Is this a down cycle or a fundamental and permanent shift in capital markets? For how long? What will make it revert? Who will survive? IF EVERYONE IS THINKING ALIKE...
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