Rabbit-Proof Fence Essay Example for Free

Rabbit-Proof Fence Essay * How do the filmmakers begin the film and engage us in the story and at the beginning of the film what do you think you are seeing at first? The Australian film based on the true story about â€Å"The Stolen Generation† titled â€Å"Rabbit-Proof Fence† begins with a brief written summary about the Australian Aborigines Act of 1931. This historical information is just enough to really grasp the viewer’s curiosity before moving on to what is initially, the unidentifiable aerial footage of the endless desert plains of Australia. This is footage is only further complicated by the voice of an unknown women speaking in an unfamiliar language and the native sounding instruments fading in slowly from the background. At first, I was unsure of the geographical location, thinking it was possibly that of a sandy or muddy beach. It then crossed my mind that perhaps I had mistakenly selected a non-English version of the film which would explain the foreign language, but not the English text at the beginning. It wasn’t until the view included the unmistakably blue sky along the horizon of the desert that the location became completely recognizable and my previous thoughts were extinguished. * What impressions do you gain of life in the desert Aboriginal community?   Living among nothing more than the dry and dusty Australian plains scattered with sagebrush and a few desert trees, the film showed how desolate of a landscape the Aborigines called home. With nothing more than simple huts constructed from small sticks and branches, their homes didn’t appear to provide adequate shelter much less protection from the elements such as the unrelenting heat and sun. It was clear that their lives had been disrupted by â€Å"white† European settlers whom had depleted their lands of natural resources needed for survival, as the community was forced to rely upon government rations for food, water, clothing, etc. As seen in the film, the community rations were distributed to the native people by a â€Å"white† government worker at the Jigalong depot which gave the state every opportunity to evoke complete control over their lives. * Very early in the film, we see the eagle, Molly’s totem, her spirit bird. Her mother tells her the eagle will look after her. When does the bird appear again in the film and why? The eagle first appears in the very beginning of film as Molly stares up to the blue sky watching intently as an eagle circles overhead. Soon joined by her mother, together they both gaze up as her mother speaks to her in native tongue; she explains the meaning of the totem to Molly and its promise for protection and guidance. Then after Molly and her sisters are taken to the settlement, the eagle appears again circling overhead in her dream signaling that the time had come for the girls to make their escape. Finally, after walking over a thousand miles the two remaining sisters collapse from pure exhaustion in the endless desert when again the eagle appears in Molly’s dreams. Awakening her from near death, the eagle seemingly provides the strength and encouragement needed for Molly to contin ue on, with promise of home. Out of curiosity, I did some further research about the totem and the Aboriginal people. In the Aborigine culture each individual family has a totem with different animal symbols on it which represent their descended mythical â€Å"Being of Dreamtime†: the belief in a spiritual connection between land, animal, and man in a time before time. For indigenous aborigines the religious significance of the totem is conceptually similar to the religious significance of the cross for Christians; both carry symbolic meaning representing a spiritual life. * Why do you think that some children just accepted their fate, whereas others were desperate to escape? After being kidnapped from their family and taken to the Moore River Native Settlement, the Aboriginal children were forced to conform to the strict authority of the sisters and Mr. Neville’s staff, including the tracker. The children were warned from the beginning that if they were to attempt an escape they would be tracked and surely brought back to receive the punishments they had deserved. Those who dare attempt were immediately tracked and returned to the settlement where they would be brutally punished in front of their peers by the Mr. Neville or his staff; after which they were then locked up in the isolation room for hours or even days. For the majority of the children the fear of punishment was enough for them to accept their fate and obey the endless rules. Additionally, it seemed that for many of the children the settlement had become their home and they didn’t want to leave. Clearly this was not the case for Molly, and the other girl seen punished in the movie for sneaking out to visit her boyfriend. * What kind of activities were the children involved in to â€Å"civilize and Christianize† them? Once the children arrived at the Moore River Native Settlement they were expected to dress, speak, and behave as instructed by Mr. Neville’s staff. The children were each scrubbed by one of the sister’s before being dressed all alike in plain smocks and shoes. At the start of each meal they were required to stand and all say a uniform prayer before eating. They were required to address their elders by â€Å"Ms. or Mr.† only, able to speak only when spoken to, allowed only to speak in English instead of their native tongue which was commonly referred to as â€Å"jabber†. All the children were forced to attend classes, and church as instructed, as well as daily chores like sweeping, mopping, and sewing. * After their escape, when ever Mollly is asked where she is going, the answer is always the one word: â€Å"home†, what does this mean to Molly? For Molly, the word â€Å"home† is where she belongs, the place where her mom is, the only place she knows, the place she must return to at all costs. Unlike some of the other children who had been made to believe that the settlement was their home, and that they no longer had a mother; Molly knew better, she knew that they still had a mother. For fourteen years, wherever her family was at was â€Å"home† and she dearly longed to be reunited with the family that she loved and she knew loved her. * The girls stumble across a remote farm where they meet Mavis, another Stolen Generations Aboriginal girl who is working as a domestic helper. What evidence is there to suggest that life is very difficult for Mavis? Why was she so keen for the girls to shelter with her for the night? One of the few people that the sisters encountered on their incredibly long journey across the desolate Australian plains was a young woman by the name of Mavis. They came across a homestead where they found Mavis hanging laundry, deciding to stop and take the chance by asking for food. As the girls soon would learn, she too had been kidnapped from her family and brought to the compound where she lived until she was old enough to go to work as a domestic worker for the white family with whom she lived. Immediately upon seeing the girls, Mavis r ecognized the trio as having escaped from Moore River. She instructed the girls to wait in the brush until later that evening when she would bring them food and insist upon them staying with her for the night. That night as the girls lay fast asleep in Mavis’ bed they were woke by the white boss man attempts to crawl into bed with whom he clearly had thought to be only Mavis. After the discovery, Mavis briefly spoke with boss man before pleading with the girls to stay with her for the remainder of night out. Clearly she was fearful that if they left her bed he would return to finish what he had started. Unfortunately, despite her promise, Mavis boss did in fact call the authorities and again the girls were woke, only luckily this time narrowly escaping capture by outwitting the trackers. * Imagine you are Molly aged about thirty and the mother of two children. Tell your children what you learned from your experiences in 1931. First of all, I want to acknowledge that it is impossible for me to comprehend what Molly, or any Aboriginal child endured at the hands of the Western Australian government; I can only do my best to imagine what I would be like after such an experience. As forty four year old Molly with two children, I anticipate that I would be open and honest with my children about the events in my life while doing my absolute best to teach my chil dren about the necessity of forgiveness. I would try to explain that the actions of the Australian government were the result of ignorance and fear. It is our job as parents to prepare our children for the future and to hopefully avoid repeating the mistakes of our past; as such I feel that it would do no good to teach them to be angry or hateful towards the â€Å"white† people, but feel sorry for their ignorance. * Many Aboriginal Australians today are still suffering from the effects of loss of identity and family brought about by the practice of removing Aboriginal children. What do you understand by the word â€Å"reconciliation†? To me personally, the word reconciliation means the act of making something right that has been wronged and I don’t know if the past in instances like this can be made right. After the movie, I went on to view several other pieces about the Stolen Generations and some of the stories were heart breaking to say the least. It is very true that many Aboriginal families are still suffering today; many who have lost every bit of their real heritage as a result. It’s hard to imagine not having any idea where you came from, but it’s even harder to imagine those whose last memory of their mother was her heartbroken face as they were ripped from her arms. To have no idea what became of your people is something I can only begin to imagine. Therefore, I don’t think that there ever will be any reconciliation possible between the government and the Aboriginal people, an apology sure but the wrong will never be able to be right. What I do believe can take place, is for the Australian government to accept responsibility for the mistakes of their predecessor’s against the Aboriginal people and to provide any and all resources that may help this culture heal.

Concepts of Ageing and Disability

Concepts of Ageing and Disability Impairment, disability, and handicap Impairment is any loss or abnormality of psychological, physiological or anatomical structure or function e.g. hearing or vision impairment, brain injury, impaired movement, impairment of the sense of smell. Disability is any restriction or lack (resulting from an impairment) of ability to perform an activity in the manner or within the range considered normal for a human being e.g. unable to perform ADL’s, communication, learning and working. Handicap is a disadvantage for a given individual, resulting from an impairment or a disability , that prevents the fulfillment of a role that is considered normal (depending of age, sex and social and cultural factors) for that individual. Similarities and differences: Impairment, disability, and handicap all avoid a person to accomplish normal functions in certain areas of body. The difference is that impairment is the irregularity in structure of function of the body , the condition of being unable to perform as a consequence of physical or mental unfitness such as dysomia- impairment of the sense of smell while disability is the restriction of be short of of ability to perform certain utility. Disability is an umbrella term covering impairment, activity limitations and participation restrictions. Handicap refers to condition that leads to impairment of disability and prevent the person from doing things that other people of their age of gender would normally do, the case is any disadvantage that makes success more difficult or place at a disadvantage such as â€Å"He was handicapped by his injured ankle†. Ageing, old age and ageism Ageing is progressive and universal starting at birth and ending with death. Ageing and disease processes are not the same, the life expectancy in developed countries has increased by more than 30 years in the last century. Also in New Zealand the proportion of older people is expected to grow rapidly over the next 20years. The process of change in the properties of a material occurring over a period, either spontaneously or through deliberate action. Old age: old people often have limited regenerative abilities and are more tend to disease, syndromes, and sickness than younger adults. The elderly also confront other social issues such as retirement, loneliness, and ageism. The chronological age donated as â€Å"old age† varies culturally and historically, so , old age is â€Å"a social construct† rather than a definite â€Å"biological stage â€Å" Ageism: one of the challenges to positive ageing is ageism. Ageism refers to the discrimination that older people can experience due to their age. Often ageism is reflected in eligibility for access to support and resources Also in employment ,(particularly those who experience impairments)are overlooked for employment opportunities. Ageism also occurs when there are negative forms of social exclusion and judgments made about older people on the basis of the perceived worth of their contributions. Similarities and differences: Ageing, old age, and ageism all connect grow older with old person. The difference is that ageing is What’s happening as you get elder through life and old age is the result of aging for a long enough time where you are close to death and your life is coming to an end Ageing is the heaps of thing are changing in a person over time. Ageing is many angles of process such as physical, social, and psychological aspect . While old age is contained in ages closing or exceeding the average life span of human beings, and the life cycle of the end of human beings. Ageism is a combination of three connected components. Among them were prejudicial attitudes towards older people, old age, and the ageing process. Discriminatory approach against elderly, policies that maintain stereotypes about elder people. Theories of ageing in relation to gender, sexuality, race and class The social model of disability : Disability is caused by physical, organizational, and attitudinal barriers in society. Looks for full integration of individuals to society. Focus on social acceptance and equality. Identifies systemic barriers, negative and exclusion by society. Sees society as the contributory factor in disabling people. Psychosocial Theories of Ageing : As people grow older, their behavior changes, their social interactions changes, and the activities in which they engage change. Gender Differences The Social Model of Disability: In osteoarthritis, men and women had significantly difference in pain, pain behavior and physical disability. Women feel pain more seriously than men does. it leads depression to women more than men. It can be barriers in social involving for women. Biological Theories of Ageing: Women have lower cardiovascular risk and greater longevity than men. So some study supposed that there are important gender-related differences in beat-to-beat heart rate dynamics. But some study discovered that heart rate did not be dissimilar between age groups or genders. The heart rate power decreased with age in both men and women. Sexuality The Social Model of Disability : The body of sexuality is at the heart of contemporary political and theoretical issue. Yet the social model of disability makes it a banishment. Sexuality of disability is caused by attitudinal barriers in society. Nevertheless presently old aged sexuality is understood and increasingly accepted in society. Biological Theories of Ageing : Human sexuality is the ability to have erotic experiences and responses. Sexuality can have biological interest and attraction for another person. The biological aspect of sexuality in ageing refers to the reduction of reproductive mechanism as well as the basic biological drive lessen that exists in all species. Race The Social Model of Disability : Data are from population –based sample of 4,136 African American and Whites aged over 65 living in North Carolina. There is reduced risk for disability when they associate with friends as a social interaction occurs. By instrumental support leads to increased risk for disability risk significantly , with a greater adverse effect among Whites than African Americans. Expect for instrumental support, there were few racial differences in the association of social relationships with disability. The Medical Model of Ageing : This study examined surgery for colorectal cancer among medical beneficiaries 65 years of age or older with an initial diagnosis in 1987. White patients were much more likely than Black to undergo surgical resection, even after age, and location and extent of tumor were controlled for. Deprivation The Social Model of Disability : If the disability person has no immediate family or carer to support them , a representative will inform him/her for correct managing. The managing authority at the care home or hospital should work together to ensure this disability person understand the deprivation of liberty process, that he/she knows his/her right, and that they receive the right support when the authorization process starts and a result has been done. Otherwise deprivation of liberty leads them to make barriers in society to them. Psychosocial Theories of Ageing : The elderly grow older , their boundary is restricted by someone who care for them. If you feel that elderly is being deprived of their liberty ,speak to the person in charge. They try to agree on changes that can be made so that the person’s freedom is less restricted. For example, person who with dementia you can’t let them go as a normal person . but should ensure that only deprives someone of their liberty in a safe and correct way, also that is the best interests of the person and there is no other way to look after them. Otherwise their social interactions significantly change to the worst way.

What Happened at the Battle of Fallen Timbers? :: American America History

What Happened at the Battle of Fallen Timbers? The Battle of Fallen Timbers started on Wednesday, August 20, 1794. The battle took place on the lower Maumee River Valley which is the present state of Ohio. Major General Anthony Wayne was encamped with a military force of 3,700 men, 2,000 of whom were part of the regular United States Army. The rest were Kentucky mounted militia. Fighting the Americans were some 2,000 hostile Indians. The Indians were allies of the British and the British had just recently built Fort Miamis. This fort was deep in American Territory, and stopped the Americans from further westward expansion. The tribes facing Wayne and his army were the Miamis, under Chief Little Turtle, the Shawnees under Blue Jacket and the Pottawawatomies, Ottawas, Chippewas, Saulk, Fox, and some Iroquios, plus a few British and French Canadians disguised as Indians. Wayne was not sure how he and his army would fight the Indians. The terrain was very wooded and hilly. Artillery such as cannons could not be used. It was difficult for the Americans since they were not accustomed to fighting in the forest. Since cannons could not be brought easily back into the woods Wayne left cannons at Fort Deposit and Fort Defiance. Wayne was one of the first in camp to arise on August 20. Everyone had been waiting for a surprise attack from the Indians for about three days. Most of the men were tired from not having a good night of rest, they were not ready to fight. General Wayne insisted that all the soldiers wear all their uniforms. It was very hot and the soldiers had to wear, a dark blue coat, dark hat, buff breaches, and boots. At eight o'clock the rain let up and the march began. Wayne sent out the scouts far ahead to find out what they could about the terrain. Following the scouts was the advance guard, a select battalion of a Kentucky militia. The main body following the advance guard was the Legion. They carried muskets equipped with bayonets which was Wayne's favorite weapon. What Happened at the Battle of Fallen Timbers? :: American America History What Happened at the Battle of Fallen Timbers? The Battle of Fallen Timbers started on Wednesday, August 20, 1794. The battle took place on the lower Maumee River Valley which is the present state of Ohio. Major General Anthony Wayne was encamped with a military force of 3,700 men, 2,000 of whom were part of the regular United States Army. The rest were Kentucky mounted militia. Fighting the Americans were some 2,000 hostile Indians. The Indians were allies of the British and the British had just recently built Fort Miamis. This fort was deep in American Territory, and stopped the Americans from further westward expansion. The tribes facing Wayne and his army were the Miamis, under Chief Little Turtle, the Shawnees under Blue Jacket and the Pottawawatomies, Ottawas, Chippewas, Saulk, Fox, and some Iroquios, plus a few British and French Canadians disguised as Indians. Wayne was not sure how he and his army would fight the Indians. The terrain was very wooded and hilly. Artillery such as cannons could not be used. It was difficult for the Americans since they were not accustomed to fighting in the forest. Since cannons could not be brought easily back into the woods Wayne left cannons at Fort Deposit and Fort Defiance. Wayne was one of the first in camp to arise on August 20. Everyone had been waiting for a surprise attack from the Indians for about three days. Most of the men were tired from not having a good night of rest, they were not ready to fight. General Wayne insisted that all the soldiers wear all their uniforms. It was very hot and the soldiers had to wear, a dark blue coat, dark hat, buff breaches, and boots. At eight o'clock the rain let up and the march began. Wayne sent out the scouts far ahead to find out what they could about the terrain. Following the scouts was the advance guard, a select battalion of a Kentucky militia. The main body following the advance guard was the Legion. They carried muskets equipped with bayonets which was Wayne's favorite weapon.

Anna Quindlen Essay -- essays research papers

Rhetorical Analysis   Ã‚  Ã‚  Ã‚  Ã‚  Anna Quindlen describes in the essay â€Å"Abortion is too Complex to Feel one Way About† the different situation that we as a human race are put in everyday. She talks about the topic of abortion in a way that one feels they have had to make the decision of whether or not a person is pro-choice or pro-life. She uses references that are of different personal experiences in the essay that are vital to the audience. Quindlen is writing to state her point that one should never put their self in this situation because one should take the proper responsibility. In this paper you will read about the conflict with abortion and what Quindlen thinks about this issue. The author presents an interesting outlook on a volatile issue that has plagued or country for years. She appears to be voicing her opinion in an effort to bring reason and clarity to a confusing and emotional topic. To do this Quindlen uses personal experiences along with practical real life experiences. By using these different types of strategies Quindlen is able to achieve a greater influence over her audience.   Ã‚  Ã‚  Ã‚  Ã‚  The primary purpose portrayed through Quindlen’s writing is the complete and all-encompassing celebration of life. Quindlen is not supporting or denying a women’s right to choose whether or not she should have an abortion. Here we find a sole voice crying out to the masses. Those who have not been placed in such a predicament and are confronted with someone who has seen or experienced both sides of the issue and is seemingly trying to encourage these young people to think wisely about the main issue that is being confronted. Her primary purpose is proven to be true because of the strategies that she uses. Quindlen uses different strategies in her essay to try and persuade her audience. She uses her voice indirectly rather than directly when talking about the personal experience of abortion. At the beginning of the essay she talks about how she was a counselor in a college dormitory. And she says â€Å"it was always the look on their faces that told me first†(627). She has had so many girls come talk to her about the decision that they do not even have to say anything to her any more. With Quindlen being a freshman guidance counselor and witnessing what these girls are experiencing says this causes her to become pro-choic... ...e essay she says â€Å"but I don’t feel all one way about abortion anymore, and I don’t think it serves a just cause to pretend that many of us do†(629). This quote lets the reader identify with it being okay to feel conflicted about abortion. It seems that often people feel they have to choose sides in the abortion debate. However, Quindlen allows her audience to find comfort and acceptance and not really knowing what they would do if ever faced with this decision. She uses a balance of real life examples that she has experienced and witnessed. Most of her examples touch the reader deep down inside so that they are left feeling as if they were a fly on the wall when these things were going on. At the end of the day where has Quindlen left the issue? She leaves it seemingly where it should stay†¦in the heart of those affected by it. This is a personal issue that needs to be taken seriously according to Quindlen. After having lived through many different sides of this issue she appears to still have no one side that she is partial to. She is celebrating life however she shows great empathy and compassion for all who may make a decision to not go ahead with bringing a life into the world.

Dangers of Suicide Websites Essay -- essays research papers

Suicide Made Easy The thought of suicide can enter the mind of anyone in any age group. For those who come across a suicide website, the information given can make suicide turn from a fleeting thought to an action. On Thursday, October 10, 2007 Kazunari Saito, a 33-year-old electrician, was arrested for the murder of Sayaka Nishizawa, a 21-year-old woman. Saito was the host of a suicide web site where he provided his viewers with ways to commit suicide, this is where he and Nishizawa first came in contact. Nishizawa reportedly paid Saito $1,700 to help her to kill herself. On the night of April 12, 2007 Saito gave Nishizawa 20 to 30 sleeping pills and then suffocated her to ?finish the job?. (Austin Modine, 2007) Above are the statistics taken from 2004 showing the differences in age, race, and sex. The rate, number that year, and average suicide per day are represented here. (American Association of Suicidology, 2004) A rarely known or acknowledged fact is that not only children and teenagers are suicidal. The major difference between suicide attempts among elders and youth is that elder suicide attempts are more commonly successful (Reference Services Review, 2003, Vol. 31 Issue 2, p175-184, 10p). The American Association of Suicidology states that in 2004, 32,439 people died from suicide attempts. This means that someone commits suicide every 16.2 minutes. Of this total, every 1 hour and 41.4 minutes an elderly person commits suicide, compared to every 2 hours and 2.1 minutes that a young person commits suicide. These are not the only two categories in which suicide falls, of the 32, 439 suicides in 2004, 22, 925 were committed by adults between the ages of 25 and 64 (Section 1,2, and 3, 2005) For many, a sui... ...nce Source Review Volume: 31 Issue: 2 Page: 175 ? 184. Retrieved February 15, 2008 from University of Phoenix Library Lewis, Penny (2001) Rights Discourse and Assisted Suicide. American Journal of Law and Medicine. Vol. 27 Issue 1. Retrieved February 15, 2008 from University of Phoenix Library. Megan Meier Suicide (2006) Retrieved March 8, 2008 from hitsusa.com/blog/317/megan-meier- suicide/ Sinderbrand, Rebecca (June 20, 2003) Point, Click, Die. Newsweek Vol. 141 Issue 28. Retrieved February 15, 2008 from University of Phoenix Library Stone, Geo (2007) Suicide and Attempted Suicide: Methods and Consequences. Retrieved March 19, 2008 from http://www.suicidemethods.net/ TOKUS's Handy Four-Pillar Practice Archive (2004). A Practical Guide to Suicide. Retrieved February 15, 2008, from http://www.satanservice.org/tokus/suicide/ guide/#I.D

Advertising Paragraph Tenth Essay

Advertising is one of the best ways to get consumers’ attention. When the ad is spiced up with handsome men and beautiful women enjoying the great outdoors, people are likely to take a look at the ad, thinking it may be for a nice vacation or possibly for something healthy, but to the consumers’ surprise, it’s an ad for â€Å"Newport† cigarettes. How does this affect the audience? By creating an environment on the ad that is bright, lively and colorful, along with attractive men and women, it really gets the consumer’s attention well. The cigarette companies have used this strategy for years to reach their audiences, and the â€Å"Newport† ad is no different. The advertisement for â€Å"Newport† brand cigarettes does a good job of getting the consumers’ attention and even selling cigarettes in general, but when it comes to the advertisement of its own brand, the ad really lacks effectiveness. Looking at the picture, the only par t of the ad that sells the â€Å"Newport† brand are the three small packs of cigarettes in the top right corner and the word â€Å"Newport.† Everything else in the picture is just for getting the consumers’ attention. The main target audiences for this product are most likely avid male smokers, however, the ad can be geared towards both sexes. By showing the man running in front of the woman with the boogie board, he becomes the focal point. When looking at the picture, with the three packs of cigarettes and the text â€Å"pleasure† sitting directly above the man’s head along with the phrase â€Å"fire it up† pointing directly to the male, really shows how much more attention they want on or even from males. Also, by matching the colors of the man’s bathing suit, boogie board and the text, shows that the ad is more interested in helping the consumer focus on the man rather than the woman. It is because of these points that the ad fails to sell the â€Å"Newport† brand to both sexes. Another reason this ad fails to sell its product well is because it seems they put more attention i nto the picture, its surroundings and exaggerations, rather than the actual product â€Å"Newport† cigarettes. It seems they are depicting that even when the consumer smokes cigarettes, he or she can have a sexy, toned, muscular body and feel great all the time. This obviously is not true, considering that cigarettes contribute to weight gain, loss of respiratory stamina and many forms of cancer. Along with these disadvantages come stained teeth and bad breath, which all accompany the true criteria of an  everyday smoker. One of the most interesting selling points in this picture are the words â€Å"fire it up† posted right above the surgeon general’s warning. Positioning these words above the warning is a gross example of how much the cigarette companies don’t care about the negative effects their cigarettes have on their customers. Knowing that their product kills hundreds of thousands of people a year and permanently disables thousands of others, their decision to place this phrase above such a serious warning tells me that they want to convince the consumer to completely disregard how unsafe cigarettes really are. Also, the fact that the phrase â€Å"fire it up† does not include any information about the â€Å"Newport† brand cigarette itself also shows that the company really failed to sell its own brand. For an avid male smoker such as my-self, this ad does what it is intended to do. It makes us think to ourselves, â€Å"man, I could really go for a cigarette.† The ad does this well by setting a trigger off inside the consumer’s head, to start thinking about cigarettes. Unfortunately, when it comes to the advertisement selling its own brand, the ad really falls short, since the company producing the ad put more money into making the advertisement visually appealing rather than focusing on selling their own brand. In the future, it would be more advantageous for the company, if they focused more on integrating the specific benefits of using their brand over others, rather than creating an â€Å"eye pleasing† advertisement.

Gainesboro Machine Tools Corporation †Essay Essay

Executive Summary Gainesboro Corporation was a company who designed and manufactured a number of machinery parts, including metal presses, dies, and molds. The company was found in 1923 in Concord, New Hampshire, by two mechanical engineers, James Gaines and David Scarboro. The two men had gone to school together and were disenchanted with their prospects as mechanics at a farm equipment manufacturer. In the 1940’s Gainesboro produced armored-vehicle and tank parts and miscellaneous equipment for the war effort. And then in the early 1980’s, they focused on manufacturing machinery parts, war equipment, and now entered new field of computer aided design and computer aided manufacturing (CAD/CAM). Objective Ashley Swenson, chief financial officer (CFO) in mid-September 2005 needed to submit recommendation to Gainesboro’s board of directors regarding the company’s dividend policy. The Gainesboro’s stock also fallen 18%to $22.15 due to post impact of the Hurricane Katrina. Now, Ashley Swenson’s dividend decision problem was compounded by the dilemma of whether to use company funds to pay shareholder dividends or to buy back stock. Analysis >>Buy-back Stock Stock Price per share = $22.15 Net income in year 2005 = $18,018,000 Number of shares = 18,600,000 shares (assumed number in year 2004 is still the same with year 2005) Earnings per share = $0.98 Price to earnings ratio ( P/E Ratio)=(Price per share)/EPS P⠁„E Ratio=22.15/0.98=22.6 Number of retired shares=(Net income)/(Price per share) Number of retired shares=18,018,000/22,15=813,453.72≈813,454 Therefore, number of shares outstanding =18,600,000-813,454=17,786,546 shares Then we can calculate the new EPS after repurchase stock, Earnings per Share (EPS) =(Net income)/(Number of shares) EPS =$18,018,000/17,786,546=$1,013 Thus, the new market price is =EPS x PE Ratio=1.013 x 22.6=$22.89 It can be seen that by buying back the stock, the market price can increase for 3.34%. >Pay shareholders dividend a. Zero dividend payout Policy This policy required the company will not pay dividend from 2005 to 2011.In the year 2005, The company expenditure was about $63.3 million dollars but the amount of the total sources was only $40 million, so in order to balanced the company financial condition, the company borrowed $22.7 million. The same thing was also happened in 2006, the company borrowed $7.3 million (total expenditure $72.8 million –total source $65.5 million). From 2007 to 2011, the company excess cash are positive ($4.2, $11.5, $29.4, $27.2, $77.6) million, these situation happened because the total expenditure remained lower than the company total source, so the company did not have to borrowing needs. So, by sum all of the excess cash and the borrowed money data from 2005 to 2011, we can calculate that the company total excess cash is $120 million. This kind of policy has the best impact on company’s financial condition because of the absence of dividend that will reduce the company’s retained earnings. Retained earning posses a greater role to make sure the company runs smoothly in the future by using minimum portion of debt required on a project, reflected in the industrial zero-dividend payout ratio. b. 40% dividend Payout From data in exhibit 8, 40% dividend payout means that the company will pay dividend 40% from net income from year 2005 to 2011. This results and the total excess cash for borrowing needs from 2005 to 2011 is ($95.1) million. The company will do borrowing from year 2005 to 2010. Amount of money borrowed respectively, ($29.9), ($23.3), ($18.8), (17.6), ($7.2), and ($12.0). All of the value comes from deduction of the total expenditures to  the total sources. Year 2011 the company will get $13.6 million excess cash ($212.5 million – $134.9 million). $134.9 million is from the total expenditures (capital expense + change in working capital). And $212.5 million comes from the total sources (net income + depreciation). By sum up all of values (excess cash and borrowed money) from year 2005 to 2011 we get the total cash flow of ($95.1) million. By raise dividend payout from 31.4% in 2004, 140,784(Net income)/0.25(dividend per share) to 40% company need excess cash 95.1 million; only in 2011 the company gain profit. The following is the calculation table: c. Residual-payout Dividend The following is the calculation for the residual-dividend payout: By applying residual payout policy, at the total of excess cash from year 2005 to year 2011, Gainesboro still experiences negative cash. It means they will still have to borrow extra cash to pay the dividend. Conclusion and Recommendation Based on the market price value, EPS, and P/E Ratio calculation, the company’s stock will have higher market price if they buy back the stock. Therefore, it’s recommended to buy back stock instead of paying dividend. It is also supported by the comparison between zero payout dividend, 40% payout ratio, and residual-payout. The best ending cash the company has is when they do zero payout ratio, which means they don’t give dividend at certain years. Since, to pay the dividend they will have borrowing need forcing them to increase the debt level. Meanwhile, they current debt level is already higher than the maximum level management expect which is 40%. The year 2005 debt to equity ratio is 140%. Also, without paying dividend, the company still can attract investors. It is shown from the P/E ratio that is in average if compared to other similar companies.