...Global perspectives on governance: lessons from east and west While the core principles of governance are the same throughout the world, the Asian model places particular emphasis on trust and relationships. This paper discusses the key differences between the western and Asian approaches to help business leaders explore the best aspects of both. Conclusions 1. The corporate governance model that’s familiar in Asia, Africa and most developing nations places strong emphasis on trust and relationships. This can be beneficial for stakeholders: the typical pattern of ownership in businesses means that there can be a longer-term view of an organisation’s success compared with that in a western company. But the system is potentially vulnerable to corruption and cronyism. It can also be difficult to implement basic control procedures. 2. The prestige of what can be broadly termed the western governance model has diminished in the aftermath of the financial crisis. This model has driven globalisation and has emphasised a combination of legislation and standards as well as transparency, with a focus on developing appropriate structures, processes and frameworks. This is widely understood and helps to create a level playing field. But major financial failures over the past two years, such as that of Lehman Brothers, have shown that there are limits to what can be done to tighten checks and balances. A new emphasis on the behavioural aspects of governance is overdue. ...
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...IRREVOCABLE OR NOT? MODIFICATIONS TO TRUSTS ERIC G. REIS Partner Thompson & Knight, LLP 1722 Routh Street, Suite 1500 Dallas, Texas 75201 Phone: (214) 969-1118 Fax: (214) 880-3183 State Bar of Texas 33 Annual Advanced Estate Planning and Probate Course June 10-12, 2009 Houston, Texas rd CHAPTER 10 NOTICE: In compliance with requirements imposed by IRS Circular 230, please be advised that any tax advice contained in this outline is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or other matter addressed herein. TABLE OF CONTENTS I. II. INTRODUCTION. ...................................................................................................................................................................1 LEGAL CONSIDERATIONS. .................................................................................................................................................1 A. Texas Trust Code Provisions on Modification of Trusts. ....................................................................................................1 B. Merger of Trusts..................................................................................................................................................................2 C. Sale to New Trust. .............................................
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...constant lobbying towards the baby boomer generation, its current ageing population crisis and the permitted negative gearing of investment properties. Many sweeping reforms have been suggested in an attempt to rectify these issues, however it seems that no such recommendations have been implemented. Neutrality of Australia’s Tax System I believe that there are too many vested interests and rent seekers in today’s society for the Australian tax system to be neutral. However, in my opinion, the Australian tax system favors high-income earners and small businesses, in reference to negative gearing, discretionary family trusts and unfair deductible expenses. Negative gearing refers to when an investor purchases a rental property, but the net rental income is not enough to cover the interest on the money borrowed. Negative gearing favors the high-income earners due to the fact that the higher the tax rate calculated on taxable income, the higher the benefit of negative gearing. In relation to family trusts, I believe that it is unfair that current tax policy allows high-income earners (with high tax rates) to avoid tax by way of the considerable tax concessions that are made available by the use of a discretionary family trust. By tying up assets in a trust, the...
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...people think that the voting age should be lowered or raised. Also if felons should be allowed to vote in prison. The typical voting age is eight teen. Nearly six million Americans cannot vote due to disenfranchisement laws. I think that the age for voting should stay eight teen. Also felons should not be able to vote because they can’t be trusted. Do you think that the age should stay at eight teen? The twenty sixth amendment ratified in 1971 establishes that eight teen year olds as the minimum voting age for both state and federal elections. Did you know that the original thirteen American colonies mostly set the voting age at twenty one reflecting the British law? Only seventy nine...
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... | |SECTION: ASIAN AGENCIES, Pg. 31 | | | |LENGTH: 1218 words | | | |The difference in the business cultures of Asia and the West can take time to get used to for new staff. Vicki Rothrock | |considers the East-West divide | |A big presentation is looming. The manager gathers his team together for an old-fashioned brainstorming session in the | |boardroom. Once everyone gets settled, though, he...
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...analysis of The West jet, we are going to see how IT, Business Strategy and IT governance can be utilized in upgrading an organization so that it provides better customer service and satisfaction. Analysis :- West Jet Airlines known for its "High Value and Low Fare" was working fine with its in- house small but efficient Information technology services(It worked as the integral growth of the West Jet) until it started facing hindrances in code share. The systems in the west jet were stand- alone systems and were not able to collaborate with the international Airlines Systems. Initially, West Jet selected Sabre to move to International reservation system but it was not commendable. There were some issues with the IT Infrastructure. I perceive not having an IT expertise at an executive level is a major drawback for any growing organization since the business strategies have to be in sync with the IT requirements. Realizing that, the CEO along with other executives signed a contract with Cheryl Smith to be the CIO for The West jet. Since The West jet wanted to use IT to move to next level so Cheryl was responsible for raising the IT systems and infrastructure at par with other Airlines who were also growing at an alarming rate. When Cheryl joined West jet, she had no clear idea about the IT infrastructure of West Jet. She found that there was a major drawback in IT Governance Model of the Organization. I perceive following were the critical issues with The West jet:- * De-...
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...and other archives for research and recreation purposes. Today, libraries are seldom frequented by students due to the emergence of the so called internet. The internet caters to the various needs of students from books, research papers and articles that would provide them information to online games, social networking sites and chatrooms where they can find friends and interact with other online users. There is more than 150 billion websites on the internet that can be visited for free. Google.com, Yahoo.com and About.com are example of search engines and examples of social networking sites are Facebook.com, Twitter.com and Myspace.com. The purpose of this study is to determine what sites are most visited by the students of West Visayas State University. Statement of the Problem This descriptive-survey...
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...number of police shootings that have resulted in various civilian deaths. Without discipline, an officer is nothing more than a government thug with a badge. Society grants law enforcement an enormous amount of power over citizens in order to carry out the law and preserve social order. Officers are expected to use their judgement when deciding which laws to enforce, when and against whom. In the world we live in, mistakes are inevitable, but abusing the power given to you in a state of honor and trust is inadmissible. There has been an abundance of police brutality cases in which officers have shot and killed many innocent civilians. In most of those happenings, officers claimed to have been ‘in fear for their life’. While in some cases that might be true, but more often than not,...
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...Diabetes transition Assessment of current best practice and development of a future work programme to improve transition processes for young people with diabetes. Transition in healthcare is only one part of the evolution from dependent child to independent adult (David, 2001). Submitted by Ruth Gordon, Ruth Gordon Associates Ltd to NHS Diabetes. Supporting, Improving, Caring August 2012 Acknowledgements This project was funded by NHS Diabetes and supported by Gillian Johnson, North East Regional Programme Manager. The expert panel was made up of a group of clinicians and others who provided information, commented on the process and contributed to the views included in this final report. Others have influenced the later stages of the work and will be involved in planning how to take this project forwards. Therefore thanks go to: • Fiona Campbell • Deborah Christie • Chris Cooper • Julie Cropper • Gail Dovey-Pearce • Jane Edmunds • Gavin Eyres • Sue Greenhalgh • Peter Hammond • Gillian Johnson • Susannah Rowles • Carolyn Stephenson • Helen Thornton • Peter Winocour • Alison Woodhead Without the two clinical leads, Peter Hammond from Harrogate and Fiona Campbell from Leeds, this work and report would not have been possible. Contents Executive summary Context Background and rationale Aims of the project Timing of the project Process undertaken for the project Evidence base and policy background Results from the snapshot research Good practice Examples of good practice...
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...Immediately after the British defeated the French in seventeen-sixty three …King George III quickly squashed any notion certain people might have about crossing the Appalachian Mountains into the British newly acquire land…. Scotty Gotitright, a tall, lanky, second generation Scotsman, with sparkling blue eyes, jet black hair, and affable personality, had great respect for King George III, however, he disagreed with him on this particular issue…. Scotty therefore, had an in-depth discussion with his parents and explained how he hankered to leave West Town, Virginia, cross the Appalachians and settle on the east bank of the Mississippi River and continue the family tradition. Andrew, the proprietor of The Gotitright Gunsmith Shop and Adamina, a sweet, loving, woman, gave their only child their blessing, because they knew their sixteen year old son had common sense, survival know how, and...
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...The Colonial Legacy in African Management: West Africa (1950s to 1970s) and South Africa (1990-2000s) Stephanie Decker sdecker@hbs.edu Abstract The colonial legacy in Africa has determined the development of management on the continent, as the comparison between the historical case of Africanisation in Ghana and Nigeria in the 1950s, 1960s and 1970s with South Africa in the 1990s and 2000s highlights. Despite the fact that Ghana and Nigeria were not settler colonies, when white managers were replaced with blacks (who previously only occupied subordinate positions in the colonial or Apartheid systems), most companies in Africa faced similar problems. In the quest for legitimacy in the eyes of local elites and the international community companies were tempted to resort to ineffectual window-dressing, or failed to develop the talent of black staff who face disapproval not only from white but also from less successful black colleagues. In case of successful promotion of black managers, skilled white personnel was often driven away by the lack of opportunities, while capable black staff was frequently poached with better offers by competitors. The creation of a black elite with significantly higher income than the majority population was also frequently divisive and undermined corporate social responsibility claims. Keywords: Black Economic Empowerment, Affirmative Action, Africanisation, South Africa, Ghana, Nigeria Black Economic Empowerment (BEE) and Employment Equity in South...
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...Since the earliest forms of democracy in ancient Athens to the harsh dictatorships of the Roman Empire, throughout time there has always been varying types political systems containing different ideas. However with all these systems and ideas there was corruption and depending on the system, varying amounts of corruption. Within any type of political system there will always be some type of corruption. The issue of corruption has always negatively affected individuals of society and has just created an overall lack of trust in the government for many. William Stearns Davis, “A Day in Old Athens” (Document 1), displays people living in ancient Athens was tough because of the terribly narrow and filthy roads near the marketplace. These roads...
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...Communication Challenges in Global Virtual Teams Abstract This paper approaches some of the communication challenges in global virtual teams, such as diversity understanding, asynchronous communication, behavior, language barriers, lack of trust, and technological problems. This paper groups the challenges into five main categories and describes the common issues leaders and team members need to address and overcome in order to succeed. The five categories are time zones, cultural differences, language, trust and relationship building, and technology. The purpose of this division is to help a better understanding of different type of issues in global virtual teams. Knowing these challenges allows leaders and team members to increase team’s performance through good planning and training, and avoid problems other global virtual teams had in the past. In addition, cases study showed communication and technology usage norms play an important role in global virtual teams, these norms or rules are more important in global virtual teams than collocated teams. Communication Challenges in Global Virtual Teams Global virtual teams “work across space, time and organizational boundaries” (Montoya, Massey, Hung, & Crisp, 2009, p. 139). A global virtual team is a group of people located in different geographic regions that communicate via telecommunication technology and share a common set of tasks to accomplish when completing a project. Virtual teams working...
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...coal More here than anyone in the world. The Working People of The Gilded Age. Category A workers – white collar people. Had higher status Doctors Lawyers Ministers Journalists Needed higher education. **category A&B =Middle Class Category B workers – Skilled workers Worked with hands Did not dress nicely to work Got paid very well due to their skills Sometimes more than category A’s Carpenters Plumbers Category C workers- Not very skilled Got very dirty Dangerous jobs Taken for granted Coal miners All miners Category c workers were in the new immigrants class 1880 – cutoff point for immigrants. Before 1880 immigrants came from the western European areas. These were OLD immigrants These people were WASPs (white Anglo-Saxon protestants) Although there were some Catholics as well....
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...Indians to reservations around the mid nineteenth century? c. The government's policy of pushing the Indians further west to make way for white settlement no longer worked because there was no land left to push the Indians further west. Correct Why did the Indians sign the Treaty of Fort Laramie, which ceded some of their land to allow passage of wagon trains? d. They hoped to preserve their culture and way of life in the face of white settlement of the West. Correct What was the Comstock Load? b. The richest vein of silver ore found on the North American continent. Correct Which is the largest ethnic group in the western mining district of the U. S. in the late nineteenth century? a. Chinese Correct The Chinese men were hard workers but anti-Chinese prejudice barred them from work in which jobs? b. Mining jobs Correct What was the purpose of the Chinese Exclusion Act of 1882? c. To limit and decrease the number of Chinese immigrants to the United States. Correct Which two factors helped stimulate the land rush in the trans-Mississippi West? c. The Homestead Act of 1862 and he building of the transcontinental from the Mississippi River to the California coast. Correct What did the Homestead Act of 1862 promise to people who settled in the trans Mississippi West? b. 160 acres of free land to anyone who settled in the trans Mississippi West and stayed for five years. Correct What did the federal government do to encourage railroad construction in the decades...
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