...FMA 1967 vs OSHA 1994 The Occupational Safety and Health Act 1994 (OSHA 1994) is the overall legislation in respect of safety and health and the current law on Factories and Machinery Act 1967 (FMA 1967) shall be maintained as the technical aspect of safety legislation. (Tan K.H., 1995) The Occupational Safety and Health Act 1994 (OSHA 1994) which is based on the concept of self-regulation places the responsibility to ensure safety and health of workers on those who create the risk (the employers) and those who work with the risk (the employees). This legislation was made considering the fact that the Factory and Machinery Act 1967 only covers occupational safety and health in the sectors consist only 24% of the nation's total man power, while OSHA 1994 would cover 90% of the nation's total man power. (Azahar, 2013) The Occupational Safety and Health Act 1994 encourage constant active consultation and co-operation between employers and workers in the fulfillment of each other's duties and responsibilities in relation to Occupational Safety and Health. The Act's objectives would be achieved through a new approach which revolves around the conviction that a workplace will have an excellent chance of attaining a good standard of Occupational Safety and Health if it has a good Occupational Safety and Health management system supported by the workplace's top-level management. This Act was gazetted on 25th February 1994 and may be cited as the Occupational Safety and Health...
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...The Cases of The District of Columbia vs. Heller and Lopez vs. the United States: a look at Supreme Court gun law cases, rulings, and the current abuse of executive privilege under the Second Amendment. The Second Amendment to the Constitution is the right to keep and bear arms by every law abiding citizen in the United States. In this dialog, we will look at the aforementioned Supreme Court cases to better understand the limitations of the Central Governments ability to interfere with this individual right. In the case of the District of Columbia vs. Heller, the primary issue in this case was the complete ban of handguns in homes within the District of Columbia unless they are unserviceable. This case was brought by Dick Heller in an action claiming that a complete ban violates the 2nd Amendment right guaranteed to the citizens of this country. In the case of Lopez vs. the United States, Congress attempted to control where individuals could carry weapons through the invalid use and exercise of the commerce clause power. At first look into the District of Columbia vs. Heller case, the power to solicit and control gun regulation belongs to the States, not the Federal Government. The District of Columbia is not a state and therefore does not possess the authority to install gun regulations on the citizenry living there as they are residents of Maryland and Virginia and are so governed by the gun laws which exist...
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...words of Fred C. Dobbs in the Pulitzer winning WSJ series, Way back in American history there has always been a conflict between the federal government intervening in the banking business vs. the Federal government staying out of the banking business * In 1830 when Andrew Jackson (the founder of the Democrat Party) was elected president. He terminated the fed government sponsored US Bank, and resolved the conflict. * The fed government basically stayed out of the banking business until the ’30s, when FDR took office, and the fed government intervened deeply into the ‘banking business,’ which was defined by the IRS, FDIC, Comptroller of the Currency, SEC (if public-owned), and State Bank Supervisors etc. * By defining what the ‘business of banking’s was the statutes, regulations, and enforcement personnel administering these laws, bankers were boxed into doing business as defined by state and federal governments. * Still In present day Banks are financial institutions that hold too much control over the economy and if they fail there are enormous consequences hence the need for government bailouts, in which government financial assistance is provided to banks or other financial institutions who appear to be on the brink of collapse. WHY THE NEED FOR REGULATORS * Bank regulations are a form of government regulation which subject banks to certain requirements, restrictions and guidelines. * To create transparency between banking institutions and the...
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...I.GENERAL PRINCIPLES ( THE POWER OF TAXATION ( Definitions: 1. Taxation: Power by which the sovereign raises revenue to defray the necessary expenses of the government from among those who in some measure are privileged to enjoy its benefits and must bear its burden. 2. Taxes: Enforced proportional contribution from properties and persons levied by the State by virtue of its sovereignty for the support of government and for public needs. ( Characteristics of Taxes: 1. forced charge; 2. generally payable in money; 3. levied by the legislature; 4. assessed with some reasonable rule of apportionment; 5. imposed by the State within its jurisdiction; 6. levied for public purpose. ( Theories or bases of taxation: 1. Lifeblood Theory Taxes are the lifeblood of the nation. Without revenue raised from taxation, the government will not survive, resulting in detriment to society. Without taxes, the government would be paralyzed for lack of motive power to activate and operate it. (CIR vs Algue, Inc., et. al.) Illustrations of Lifeblood Theory: a. Collection of taxes may not be enjoined by injunction. b. Taxes could not be the subject of compensation and set-off. c. A valid tax may result in destruction of the taxpayer's property. 2. Necessity Theory Existence of a government is a necessity and cannot continue without any means to pay for expenses. a. Marshall Dictum “ Power to tax is the power to destroy” – describes the unlimitedness of the power...
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... * Big government * No competition * Karl Marx 2) Socialism: Some factors owned by all people * More equal allocation of resources * Government/central planning for basic goods/services * Most basic industries owned by the government 3) Capitalism: Factors are privately held and used to make profit * Promotes competition and freedom. * Driven by self-interest, rewards innovation * Adam Smith: father of free trade and capitalism Market Economy A) Supply and Demand B) Levels of Competition * Pure: Indistinguishable products, infinite sellers, i.e. Retail gas * Monopolistic: Similar products, many sellers, i.e. Candy, Athletic Shoes, Apparel * Oligopolies: Market is dominated by a few sellers, i.e. Soft drinks, Airplanes * Monopolies: One firm owns majority of market, i.e. Electricity, Gas, Water Economic Indicators (indicate health and trend of an economy) 1) GDP: Measures the sum of all goods and services produced in a country in a year 2) Unemployment rate: Measures percentage of population 16 and over looking for work but cannot find it. Three types of unemployment * Frictional: in between jobs, best type of unemployment * Cyclical: seasonal jobs/cycles of businesses, i.e. skiing. Second best * Structural: mismatch with jobs available and skills. Worst because most expensive to fix ______________________________________________________________________________ Role of Government 1) Channeling...
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...Period is the tool that is used to determine how long it takes for the project to recover its initial costs for funding the project. The Net Present Value shows how the present project will affect the company. The Internal Rate of Return reveals the discount rate if the NPV equals zero. The antitrust law is a federal and state law regulation of corporations. The law insures that company does not grow too large which may prevent the growth of other corporations. The government believes that without this law that prices can become fixed and demand will be unfair in the market. In Assignment 3, I discussed the publicly traded company, Bank of America Corporation, and how the corporation deals with competition and change. In this paper, I will discuss the government regulations for mergers, the possible merger that could occur, and how the merger could be profitable. Explain why government regulation is or is not needed, citing the major reasons for government involvement in a market economy. Provide support for your explanation. Governmental regulation is highly important in today’s economy. There are federal and state regulations that are set to ensure the common wealth and beneficial care of the people. If a company was also involved in global marketing, they would need to...
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...ANCIENT VS MODERN GOVERNMENTS 1 Presented By: Jessie Randle Submitted to: Professor Lawrence Vellucci HS101 World History: Ancient to Renaissa Grantham University November 24, 2014 ANCIENT VS MODERN GOVERNMENTS 2 Although wars nowadays are battled in the name of democracy as if it were ethical model as well as an effort less recognizable administration elegance, it is not actually that gloomy and snowy. The discoverers of egalitarianism were the Greeks who existed in trivial city-states named poleis. Interaction with the extensive biosphere was gentler. Life needed contemporary amenities. Balloting machineries were embryonic, at greatest. The public the ones who form the demo- in democracy, were closely complicated in choices that exaggerated them and would be shocked that bills to be chosen on now need interpretation over thousand-page books. They may be even more horrified that individuals really vote on those bills without doing the interpretation. American self-governing organizations may have their skeptics and their detractors, but the country has quietly voted new administrations meanwhile its start and we see no main replacements to our government. Confidently, Americans are set in their self-governing ways, and balloting, that is, making political selections, is the keystone of democracy. In forming the vote, they make a significant administrative excellent for our nationals and themselves and make a significant declaration about anthropological...
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...areas. In this assignment, the roles and functions of the law will be discussed and explained. Federal Courts Structure vs. Wisconsin Courts Structure The federal system of government in which power is shared between the federal government and the state governments. The federal structure starts with the lowest level, which is district courts. The district courts have no jurisdiction. The next level would courts of appeal, and the last level is supreme courts. The appellate court’s task is to determine whether or not the law was applied correctly in the trial court. The Supreme Court is the highest court in the United States. The Wisconsin courts structure starts with municipal courts, which has no jury trials. The next level would be circuit courts. Circuit courts may have jury trials in most cases. Federal courts and state courts are two parallel sets of court with different and sometimes overlapping jurisdiction. . Depending on the dispute or crime, some cases end up in the federal courts, and some end up in state courts. Concept of Judicial Review The concept of judicial review is to resolute the shape and structure of the federal judiciary. Judicial review is usually associated with the U.S. Supreme Court. It is also responsible deciding whether or not acts of government are constitutional. Judicial courts are created by the government through the enactment of statutes or by constitutional...
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...Affordable Care Act: Impact on Providers Quality vs. Quantity Abstract The Affordable Care Act’s proposal was to make sure that health insurance coverage is affordable for individuals, families, and businesses and decrease the amount of uninsured individuals. . Much of the impact of this act will begin when the major coverage provisions take effect in 2014. Providers will experience an increased burden in many aspects of their medical profession including new legal practicing liabilities, less autonomy, administrative encumbrances, shortages of primary care physicians, and political infringement (Horton, Hollier 2012). The provider is to maintain high quality of care while the ACA’s agenda is cost and quantity over quality. The Affordable Care Act is the largest piece of legislative reform in American history relating to health care. The impact to our economy on many levels of scale and our constitutional rights are all being questioned and debated without a definitive answer to long term reality of its implications. Reform is necessitous to the continuance of providing care, controlling fraudulent activities and waste, as well as, exploring new innovative ways to maintain a high level of quality services within the legalities of our legislative branch. The balance of these aspects have been challenging and perplexing in materializing the reforms into fruition. The concentration during reform has been on quantity of the insured population...
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...CHAPTER 21 UNDERSTANDING THE BUSINESS ENVIRONMENT: THE ECONOMICS OF REGULATION CHAPTER SUMMARY This chapter focuses on the economics of regulation. It starts by discussing why it is important for managers to understand the regulatory process. Three potential reasons for government intervention are presented (defining and enforcing property rights, redressing “market failures,” and redistributing wealth). The primary focus is on the “economic theory of regulation” which posits that regulation is demanded by special interest groups and supplied by self-interested politicians. Rational free riding on the part of voters allows well-organized coalitions to pass regulations that redistribute wealth in their favor. The chapter ends by discussing the managerial implications of this analysis and by presenting a case study World Motors. CHAPTER OUTLINE IMPORTANCE OF REGULATION TO MANAGERS Managerial Application: Europe Relaxes Its Labor Laws ECONOMIC MOTIVES FOR GOVERNMENT INTERVENTION Defining and Enforcing Property Rights Managerial Application: War and Hunger Managerial Application: Multinational Counterfeiting Redressing Market Failures Externalities Managerial Application: Alternative Dispute Resolution Managerial Application: Frivolous Lawsuits Managerial Application: Direct and Indirect Costs of the Food and Drug Administration Public Goods Monopoly Historical Application: Interstate Commerce Commission ...
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...INDUSTRY: Trends, Challenges, Strategies John Wensveen, Ph.D. Dean, School of Aviation Dowling College New York, USA www.dowling.edu President, Airline Visions www.airlinevisions.com The University of Sydney Faculty of Economics and Business Leadership and Policy Seminar Series Sydney, Australia 23 February 2010 Presentation Objectives • Provide background on the global industry • Present a regional analysis • Discuss current and future evolvement of the industry (trends) • Discuss challenges and strategies impacting the industry • Discuss the new breed of airlines • Discuss why airlines fail and how to achieve success Background Section 3 Stages of Development Impacting the Airline Industry • • • • Regulation Liberalization Deregulation “Re-regulation” Phases of Industry Restructuring (resulting from Deregulation / Liberalization) • Expansion • Consolidation • Concentration Past, Present and Future Trends The Global Airline Industry 2012 2010 2008 Time 2006 2004 2002 2000 1998 Survive Adapt Recover Rethink State of Industry “Scenarios” • • • • • SARS 9/11 War Financial Crisis of 2008, 2009, 2010… What to prepare for… – – – – Globalization Change in international political landscape Distribution of natural resources (oil, gas, water) Internal conflicts (shifts in power) and unintended consequences and unintended consequences of good intentions Public and international perception War Terrorism Continued financial issues – – – – Top 5 Frustrations...
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...Introduction Good corporate governance (GCG) in a corporate set up leads to maximize the value of the shareholders legally, ethically and on a sustainable basis, while ensuring equity and transparency to every stakeholder - the company's customers, employees, investors, vendors-partners, the government of the land and the community (Murthy, 2006). GCG is a must for ensuring the required values to different stakeholder groups. It enhances the performance of corporations, by creating an environment that motivates managers to maximize returns on investment, enhance operational efficiency and ensure long-term productivity growth. Consequently, such corporations attract the best talent on a global basis. It also ensures the conformance of corporations with the interests of investors and society, by creating fairness, transparency and accountability in business activities among employees, management and the board (Oman, 2001). Again, GCG increase public confidence in a corporation, and lowers the cost of capital for investment. According to a McKinsey study (2002), over 60% of investors cite Good Governance practices in a corporation as a key factor in their investment decisions. Today, GG becomes a slogan and a pride. Here, we can uses accounting as a mean for establishing and retaining corporate governance. Accounting is a process of compiling information for reporting the internal affairs of any entity to different stakeholders at the end of a certain interval. It is defined as...
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...ways of gathering the funds for their company. b 1 sole proprietorship; this is when a the company is owned by a single individual owner it advantages is that it is easily formed, it is not taxed at corporate level and it has few government regulations. its disadvantage is that it is difficult to obtain large sum of capital, owner has unlimited debts and the business life is limited to the life of the owner. ii partnership is when two or more people own the business equally. its advantages are its low cost of business are easy to form. its disadvantages are similar to sole proprietorship ,limited life, unlimited liability and difficult to transfer ownership and difficulty in obtaining large sum of capital iii corporation is a business set up as an individual entity from its owners its advantages are , unlimited life, easy transfer of ownership and limited liability. its disadvantages are difficult setup of business and earnings are subjected to double tax. c a company goes public when it sell stocks to the public by a financial method called initial public offering as the business grows it can issue additional stock to the public. an agency problem is when the management of the business acts in their own self interest and not the interest of the shareholders. corporate governance is the set of rules that controls the company's behavior towards its directors, managers, employees, shareholders, creditors, customers, competitors, and community ...
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...Abstract This paper provides a brief review of the government censorship over internet, which is turning into a national dilemma as well as the cross-national conflict which affect the global businesses. Nowadays, internet censorship is widely accepted standard regulation that controls any information available on the internet and by using filtering tools to prevent people from accessing materials that are considered to be inappropriate. While government support the use of internet censorship as a protection of public security and defines the ‘inappropriate material’ to determine what people can view on the internet, others argue that it is simply a tool to take away people from their own right to express freedom of speech and make people blindly accept what they can access on the internet. The paper also addresses the growing problem of cross-national conflict by giving the practice of multinational company Google and addressing the issues of the value system between Chinese and US government. The paper concludes that as the rapid growth of internet technology and international businesses, it has become more difficult to achieve both control of information and the benefits of technology, and there is a need for balance between these two factors. Table of Contents Abstract I Table of Contents II 1. Introduction １ 2. The nature of internet development and censorship ２ 2.1The history and nature of internet development ２ 2.2 Methods of internet control ２ 2.2.1 Internet...
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...prohibitions only if they are needed, and if the inconveniences caused by this restriction do not exceed the inconveniences that the prohibition is supposed to remedy. France does not recognize religious law, nor does it recognize religious beliefs as a motivation for the enactment of prohibitions. As a consequence, France has long had neither blasphemy laws nor sodomy laws (the latter being abolished in 1789). It’s regularly updated (e.g. in 1994 a new criminal code was introduced, including clauses on sexual harassment, ecological terrorism, crimes against humanity and maximum jail sentences, which are 30 years). France has two judicial systems: administrative and judiciary. The administrative system deals with disputes between the government and individuals, while the...
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