JpMorgan Case Essay Example for Free

JpMorgan Case Essay We trust banks to hold our money and to help make use get more in investment and other ways. One of the most trusted banks is J.P. Morgan Chase they are easily one of the most well-known banks that exist. J.P. Morgan Chase on May 10, 2012 disclosed that they had lost more than $2 billion by trading financial derivatives. The administrative agencies like the Securities and Exchange Commission (SEC) or the Commodities Futures Trading Commission (CFTC) take action in order to be effective in preventing high-risk gambles in securities and banking, a foundation of the economy. We have to understand the elements of a valid contract, and discuss how consumers and banks each have a duty of good faith and fair dealing in the banking relationship. Having to compare and contrast the differences between intentional and negligent tort actions. I’ll discuss the tort action of â€Å"Interference with Contractual Relations and Participating in a Breach of Fiduciary duty† and, if the bank I’ve chosen were to behave as JP Morgan did, would I be able to prevail in such a tort action. Lastly let’s discuss how banks have protected the software that allows for online transaction to occur through automation.7 The U.S. Securities and Exchange Commission (SEC) is a federal agency. It holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nations stock and options exchanges, and other electronic securities markets in the United States. The SEC is divided into four divisions; The Division of Corporation Finance; the Division of Trading and Markets; the Division of Investment Management; and The Division of Enforcement. All the branches within the SEC carry similar  goals in terms of protecting individuals and ensuring financial fairness, each has their own specialty for instance, the Division of Corporate Finance is tasked with the assurance that all imperative disclosure of which represent a corporation are easily accessible by the general public. In addition, the Division of Trading and Markets ensure fairness, order and efficiency in market activities. Much like the design of the SEC, the Commodity Futures Trading Commission (CF TC) is also inherently designed to ensure the public, its consumers, and investors are protected from coercion, manipulation, fraud, and/or any other forms of dishonest dealings between manufacturer and consumers/investors. The CFTC is noted to be an independent federal agency established by the Commodity Futures Trading Commission Act of 1974. Again, similar to the design of the SEC, the CFTC is comprised of five different committees, each of which are responsible for a different area of trade and marketing; for example, agriculture, global markets, energy and environmental markets and technology all of which are equally as responsible as the next for ensuring full cooperation and adherence to laws set forth by the SEC. Though banking is the most common method in which most people handle and maintain their finances, there are also equally as many that take their money to invest in stocks, bonds, and the like which do not carry a sound guarantee that they will make a profit or even keep their initial investment monies. Consequently, past dealings with investor types result in unfair and fraudulent losses and even erroneous gains such as the ones reported by JP Morgan Chase, the purpose of the SEC and CFTC alike become abundantly clear. With the utilization of these two particular securities, investors, consumers, and even marketers are able to rest easier knowing that there are serious legal, unfair and blatantly dishonest dealings within the marketplace. In an effort to maintain honest correspondence and dealings with the capital market, both of these require that all earnings and losses should be reported; at which point, there can be a recognition and determination of any imbalanced and deceitful dealings having taken place. The following are the essential elements of a valid contract. Offer and Acceptance. In order to create a valid contract, there must be a lawful offer by one party and lawful acceptance of the same by the other party  Intention to Create Legal Relationship. In case, there is no such intention on the part of parties, there is no contract. Agreements of social or domestic nature do not contemplate legal relations. Lawful Consideration has been defined in various ways. The parties to an agreement must be competent the contract. If either of the parties does not have the capacity to contract, the contract is not valid. Free Consent means the parties must have agreed upon the same thing in the same sense. In the banking context, this means among other things that a bank could call a loan, refuse to fund, refuse to roll over a loan, set off accounts, etc., no matter how drastic the consequences might be to the borrower. As long as the banks accept them expressly within the granted rights under the controlling loan documents. That may no longer be the case. With the advent of mobile banking, discuss how banks have protected the software that allows for online transaction to occur through automation. The first area, financial accounting, is used mainly for ascertaining the results of any such business on a periodic basis. This should as a result; help the company determine the future course of action, in the long term. From an economic perspective, financial accounting treats money as a factor of production. Management and cost accounting are apparatus used to help management make decisions on a day to day basis. Management and cost accounting aren’t useful simply for their own sake. These two functions help management conduct themselves along with other vital factors involved in the running of a business. Other key factors could be supply, demand, competitors, availability of raw materials, logistics etc. The second area is cost accounting, its primary purpose is to attain the value of direct and indirect costs involved in production. The value acquired, management can make an informed decision on improvement in production performance. From an economic perspective, cost accounting is the measurement of economic performance. This information gives management a clearer indication of the performance of the product resources in the business. Costing also helps the sales manage in setting the correct price. But, because costing is solely a measurement of economic performance, it cant be considered as an accurate basis for setting prices. Selling prices is more of an economic decision it would not be wrong to mention that pricing is basically determined by market  factors. Prices are influenced mainly on demand, supply and competition, less on costs. High demand plus lack of competition would result in the business charging higher prices for its product, well above the costs. The third area is management accounting, which is related closely to cost accounting. It has evolved from cost accounting; management accounting plays a much broader role in management decisions. It measures the performance, economically, of the whole business, the economic environment that the business operates in. This area of accounting, seeks to combine both financial and cost information into a much broader function. Compare and contrast the differences between intentional and negligent tort actions. Intentional torts and negligence towards both give rise to civil actions. However, there are some important differences to understand about negligence versus intentional torts. Negligence torts do not require intent. To determine if someone should be found liable for a negligence tort, a reasonable person standard is used. If the defendants behavior is found to be less careful than behavior a reasonable person would exhibit, that defendant can be found liable for damages. Intentional torts require intent. The person who committed to tort must have intended to cause harm. The harm, however, did not need to be the specific type of harm that was caused to you. The other major difference between intentional and negligence torts, aside from the standard of proof, is that in many cases, a person who is found liable for an intentional tort can be required to pay punitive damages in addition to actual damage s. Discuss the tort action of â€Å"Interference with Contractual Relations and Participating in a Breach of Fiduciary duty† and, if the bank you’ve chosen were to behave as JP Morgan did, would you be able to prevail in such a tort action. The tort of interference with contractual relations and participating protects the right to enjoy the benefits of legally binding agreements. I have chosen a bank like JP Morgan and they did what he I would not took it very well. I invested money and knowing that JP losses that money I would wind up probably suing them. But providing a remedy when the defendant intentionally induces another person to breach a contract with the plaintiff. The defendant must know of the existence of the contract between the plaintiff and the other person, or there must be a sufficient fact that a reasonable person would be led to believe that such  contract existed. Interference with the contractual relations requires an unacceptable purpose. If good grounds are set and exist for the interference then the defendant is not liable. But as for J.P. Morgan there were no good rounds so the defendant is liable. So if I were to go to court over this I would not win and neither would J.P we would just be both out of the loss money that was invested. In conclusion when you invest money in a bank Think to you self is it a good idea or is it not a good idea. We all make investments just need to make sure it in the right bank that you can trust. J.P Morgan had a down fall and loss a ton of money but in the end they had to deal with the fines and the investors. When in drought don’t invest your money unless you really have to. References: Bagley / Savage 2013 Custom Edition http://money.cnn.com/2012/05/10/news/companies/jp-morgan-losses/index.htm http://www.thedailybeast.com/

Public Relations Issues :: essays research papers

As the public relations manger I have been asked to outline issues with regards to the working conditions within this firm. I have had concerns about a variety of areas and I wish to address you all on them. As new employees you are required to do the same job as others in the same position for the same amount of money. Because you are new does not mean you should be paid any less than some one who has been working there the longer than you. An award is a document that sets out the rights and responsibilities of employees who work in a particular type of job, regardless of who they are employed by. An individual employer gets no say in an award once it has been put in place. The award is designed to protect the rights of employees. The system of awards developed from the English system in the 19th century when protection against employers who would do the wrong thing by employees when exploited workers are being paid a very low wage and are expected to work long hours. An Award wage is in place to protect you as employees from being paid less that of what is required. Awards set out the minimum wage and conditions of employment for specific employees. These awards can include things such as the minimum rates of pay and allowances, overtime, shift penalty and other penalty rates, how If the many hours of work are required and leave provisions such as sick leave or personal leave. The protection for employees given by awards is good, but it is not always a strong form of protection when put to work. Employees might find that their employer is underpaying them. In other words the employer is paying them less than they are entitled to under the ward which is illegal. Though many employees are often unwilling to do anything about it because they think if they do complain their employer will make it harder for them at work or find a way to get them dismissed which is no exception. The employers also have many rights just as you the employee does. Some of the employers rights include. Paying the correct wages and deducting tax from employee’s wages, Contributing to the employee’s superannuation. The superannuation guarantee has been in place since 1st of July 1992 and it requires employers to provide sufficient superannuation support for their employees.

Digital Signal Processing

The concept of digital signal processing has been widely used these days, as it has provided many benefits to the users with its capability of converting analog signals into digital signals to facilitate the process of transmission. The encoding techniques are available which were developed after a comprehensive research to support and enable the transmission of digital signals to meet the user requirements. Apart from that, the process of ramification of every signal into many frequency bands where ever band has been digitally encoded by itself is termed as sub-band coding. Furthermore, it is better to encode lower frequency band with more bits than the higher frequency bands because the lower frequencies hold most of the speech energy. Sub-band coding method is mainly used to solve this particular problem. This paper depicts the benefits and the importance of sub-band coding, as well as it explains the steps involved in performing sub-band coding.The method of sub-band coding has b een widely practiced for the purpose of transmitting digital signals. For efficient signal encoding this particular method has provided many benefits. Moreover, sub-band coding has also been used for many years in audio industry for high quality digital audio transmission. At first, there is only one signal available which is then subdivided in many numbers of smaller sub-bands where every single number composed of a fractioned spectral of the actual spectrum from that actual signal. This process of dividing signal into sub-band will further assist each band to be transformed through distinct number of bits for every sample, and further every single band is classified according to its step size. By performing the above process resulted in a finer signal quality (Proakis and Manolakis, 2007).After completing the above process, it will now be possible to encode every single band separately according to the following set of steps. The starting step of the digital signal processing is t o apply the filtering required for the signal, which might be a high pass or a low pass signal. The purpose of filtering is to avoid the noise linked with the signal. The frequency of noise associated with the signal can be high or low, depends upon the actual signal requirement. Apart from that, to reduce the sub-band sampling rates, filters are used to minimize the bit rate in the signal encoding process. This method helps to reduce the signal on every band from a factor of two in sampling rate, which suggests that every second sample must be taken from the signal in the process of digital signal processing (Crochiere, 1981).Furthermore, the above step can be elaborated as if the signal is x[0-6], the samples taken from this would be x[0], x[2], x[4], and x[6]. The major reason of sampling through this method is to make sure that the reduced number of samples which would be quantized based on the following phase, which makes the quantization step to be as efficient and as quick as possible.The next step includes the quantization of signal on each band. In this process of quantization involves quantization noise to all the bits that are going to be sampled. However, at the   receiving end, all those signals which are acquired from the process of quantization   are to be   sampled from the   factor of two. By doing this method if the input signal is x[0-6], the output signal would now results in x[0], x[2], x[4], x[6]. Through performing this step, the identical number of samples before down sampling would be obtained where every substitute sample was missing (Veldhuis, Breeuwer, and Van Der Wall, 1989).The following step in the process of sub-band coding is to apply filters on all signals located at every single band where every filter should be of similar type which are used in the previous steps. Moreover, all filters are now used to lessen the number of sub-band sampling rates. These signals already moved through the quantization and the up and dow n sampling stages which results in proper mode of decoding (Schaffer and Rabiner, 1973).The final step requires amalgamating the signals from many sub-bands to achieve the output signal and to produce an altered version of the input signal. The following equation shows that there is only one band available from the two bands that will move in the equivalent process.X1 (z) is the signal on the transmitting end, which was acquired after moving from the H1(z) also known as the high-pass filter which is:X1 (z)= x1 (0)+ x1 (1) z-1+ x1 (2) z-2+ x1 (3) z-3   Ã¢â‚¬ ¦_____ â€Å"1†X1 (-z)= x1 (0)- x1 (1) z-1+ x1 (2) z-2- x1 (3) z-3   Ã¢â‚¬ ¦_____ â€Å"1A†It is therefore proved that Z-transformed is actually a result of passing a high pass filter to the signal which is the actual input x[n]. X1 (z)= X (z) H1(z) _____ â€Å"2†The down sampling has been performed by the factor of two on the signal which is originally X1 (z) will now be presented by Y1(z) signal as show n in the following equation:Y1(z) = y1 (0)+ y1 (1) z-1+ y1 (2) z-2+ y1 (3) z-3 †¦_____ â€Å"3†Y1(z)   = x1 (0)+ x1 (2) z-1+ x1 (4) z-2+ †¦_____ â€Å"4†The equation â€Å"4† mentioned above, explains that the down sampling effect has removed every single alternate sample available.However, at the other end signals that were previously up sampled, will now be considered as U1(z) at which every single alternate sample is equal to zero value.U1(z) = u1 (0)+ u1 (1) z-1+ u1 (2) z-2+ u1 (3) z-3   Ã¢â‚¬ ¦U1(z) = y1 (0)+0+ y1 (1) z-2+ 0+y1 (2) z-4+ †¦U1(z) = y1 (0)+ y1 (1) z-2+ y1 (2) z-4+ †¦ from â€Å"4†Ã‚   U1(z)= Y1(z2)U1(z) = x1 (0)+ x1 (2) z-2+ x1 (4) z-4+ x1 (6) z-6 †¦U1(z) = (X1(z)+X1(-z))/2 = X(z) H1(z)+X(-z) H1(-z)/2__†5†Besides, the U1(z) signal now move towards the next high pass filter which is K1(z) which is positioned at the receiving point and specified as:V1(z)= U1(z) K1(z) =  ½ K1(z) [X(z) H1(z) )+X(-z ) H1(-z)] â€Å"6†Furthermore, the final output signal will now be created after each sub-band output is added which results in the subsequent equation:X_out(z)=V1(z)+ V2(z)X_out(z)=  ½ K1(z) [X(z) H1(z) )+X(-z) H1(-z)] +  ½ K2(z) [X(z) H2(z) )+X(-z) H2(-z)] .X_out(z)=    ½ [H2 (z) –H2 (-z)] X(z).When the final output is obtained, to make equation more expressive, it will now be altered into the frequency domain of w from the resulted Z domain, which will now be expressed in the following manner:X out(w)=  ½ [H2 (w)- H2 (w-p)] X(w).X out(w)= [e-jw(m-1) Hr2 (w) – e-j(m-1)(w-pi) Hr2 (w-p)] X(w).In the above equation, m represents that even number which measures the length of the filter.After completing the above procedure, the next phase requires experimentation which includes the implementation of sub-band coding that can be accomplished through two methods. The first method of experimentation is MATLAB, which requires the theory section to be followed from the same phases outlined. There is a file named as ‘subband.dat’ is provided from the input signal in this particular method. This file consists of many values which expresses the file regarding the capacity of the signal in a given time. Moreover, H2(z) was also given as the coefficients of the low pass filters (Croisier, 1974).It is also suggested that the high pass filters H1(z) are used with the low pass filters K2(z) which creates relationship among the filters explained below:H1(z) = H(z),   H2(z)= H(-z), K1(z)= 2H(z) and K2(z)= -2H(-z).Apart from that, there is one more value known as the SNR value that is required for the process of quantization where every single value of Q1 will be computed through the following equation:SNRdB=[ à ¥ xi(n)2 /   à ¥ (xi(n)- xo(n))2 ]. Where the limits of the summation is from n=0 to N-1.The next method for the implementation of the sub-band coding used is called C6711. It is a device that works as a converter and faci litate users in converting software implementations into the physical results. On the other hand, CRO is used on which the output will be connected for the verification of results. Moreover, the sine wave is also generated through connecting the frequency generator to the C6711 device (Rabiner and Gold, 1975).Finally, the results generated through MATLAB for the sub-ban coding reveals that before performing any find of modifications on the signal, it highly requires the plotting of input signal. Apart from that, result has also shown that the low pass and high pass filters of sub-bands were moved towards an intersection point which exactly equals to 0.5 rad/sample.The SNR values used in the process of quantization of distinct number of bits reached at a highest level of 16.5dB at the 5th bit. On the other hand, the SNR value has been calculated for 4 bit PCM system was almost 13.2dB. The value suggests that there is a 0.5dB variation from the value computed at the forth bit which is 12.7 dB and is acceptable after the comparison. However, the resulted output signal appeared on the CRO is quite similar to the input signal which explains that as the frequency increases the output signal will move towards zero (Kuester and Mize, 1973).After reviewing the whole process, it is concluded that the sub-band coding is a method to encode the input signal successfully with maximum efficiency. The two methods used in the process known as MATLAB and C6711 endorse the theory presented in the preceding sections which are considered as valid and reliable.

SIlent Film Industry in Hollywood - 1024 Words

Hollywood; when people hear Hollywood they usually first think of the giant Hollywood sign that is on Mount Lee in Los Angeles, California, celebrities, fame, money and last but not least movies. The Hollywood movie industry makes around thirty billion to thirty five billion dollars in the United States alone, while making ninety billion to hundred billion dollars worldwide (McCandless and Quick). The Hollywood movie industry has become one of the most successful industries in the United States. Every major industry has its beginning and Hollywood’s beginning goes all the way back to the late nineteenth century. Hollywood’s early years are referred as the silent film Era in the film industries. This was due to the films having no†¦show more content†¦His most famous work The Birth of a Country used many different colors such as amber, blue, lavender and startling red tints. Griffith later invented a color system in which a colored light would flash on areas of the screen to achieve the wanted color. The acting techniques for silent films are very different from modern day acting. In silent films the actors could not use words to convey the character, they had to emphasize their body language and facial expressions so the audience could have a better understanding what the actor was feeling and portraying on screen. A great example of this is in the silent film The Passion of Joan of Arc, where Joan is being prosecuted by the judge, just due to the actress facial expression the fear that the character is feeling can be felt through the screen (Kayleigh0812). However, compared to modern day acting one would call the acting style for silent films to be simplistic, campy, or even melodramatic. The melodramatic acting was need because there was no sound but also because it was a habit that carried over from stage acting. 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