Petrozuata Case Study

Petrozuata Case Study Petrolera Zuata, Petrozuata C.A. Voilis Athanasios 1) Introduction – Case Study In 1976, after nationalization of the domestic oil industry a stated owned enterprise Petroleos de Venezuela S.A. (PDVSA) was established for the purposes of managing the country’s hydrocarbon resources and promoting economic development. It was the world’s second largest oil and gas company with reserves in Venezuela and refineries across the Europe, United States, and the Caribbean. Domestically, PDVSA provided 78% of Venezuela’s export revenues, 59% of the government’s fiscal revenues, and 26% of nation’s GDP and had a reputation of being one of the best managed national oil companies. In 1990, PDVSA started an ambitious long-term project, which main aim was to double its domestic production and expand international markets. For the implementation of this venture, the company needed to raise investments for approximate amount of USD$ 65 bn. At that time neither PDVSA nor Venezuelan government had the possibility to finance the underlined expansion. As a solution, it was decided to establish a strategy called â€Å"La Apertura†, which opened the Venezuelan oil sector to foreign companies through profit sharing agreements, operating service agreements, and strategic joint ventures associations. Unfortunately, such initiative overlapped with political instability and economic turmoil in the country. Only in the early 1990s two failed military coups and the impeachment of President Perez took place. In late 1993, because of the severe crisis in the banking system, the administration suspended a number of constitutional rights, imposed price control on basic goods and services, and took direct control over most of the banking system. Moreover, the foreign exchange markets were closed and began rationing foreign currency to the private sector. Few years later, by the time of the deal closing, due to an economic and social reform program of President Caldera, the economy had begun to recover, but with coming presidential elections, public tension was also growing. All in all, the feasibility of the project was under the pressure of  the sovereign risk. The rating agencies were considering three principal risks: possible government action, currency market volatility, and Venezu elan business conditions. The first development project of reopening Venezuelan oil sector to foreign investments was Petrozuata. It is a USD$ 2.424 bn joint venture between Conoco and Maraven as a part of PDVSA. Conoco was the petroleum subsidiary of one of the largest chemical producer in the world E.I. du Pont de Nemours and Company (DuPont). That time Conoco recently completed projects in Russia, Norway, USA and was a recognized leader in refining technology and project development. Underlined parties started feasibility studies and negotiations for a joint project in 1992. After four years of planning, Conoco and Maraven had made a mutual decision to finance this deal on a project finance basis, because of financial and organizational benefits provided by such structure. PDSVA could not have built the project alone because of its lack of specialized assets needed to extract and upgrade syncrude oil. On the other hand, foreign ownership of domestic hydrocarbon resources is prohibited by law, closing all ways for a sole expansion by Conoco. In terms of ownership structure, it was strategically decided that PDVSA subsidiary contributed less than 50% of the total equity amount but, through its preferred shares, would retain voting control. Because PDVSA would be the minority shareholder, the company would be classified as private. As a consequence, it would not consolidate into PDVSA’s balance sheet and, more importantly, they would not be bound by legislation for public companies (public procurement bidding procedure, excessive accountability, etc.). Final association agreement had a term of 35 years beginning once production started in 2001. The equity ownership contributions were set up in such way that Maraven had 49.9% of shares and 50.1% for Conoco. After accomplishing of the agreement, Conoco has an obligation to transfer its shares to Maraven at no cost. Also, to give incentive to the project, the government agreed to decrease the royalty rate during early operation years and the Congress agreed to lower the income tax rate from 67,7% to 34%. The sponsors agreed to use USD$ 975 mn of equity and USD$ 1.45 bn of debt to finance the project, which corresponded to 60% of debt-to-equity ratio. Such high percent of equity contributions to the project were chosen to show the sponsor’s commitment to the project. In 1996, for the beginning of the project, sponsors contributed USD$ 79 mn of paid-in capital. Additional contributions including contingency fund were projected to infuse in the following 4 years for the total amount of USD$ 366 mn. For the outstanding sum of USD$ 530 mn, shareholders chose a risky plan to use cash flows from the sale of early production crude, after completion of the oil fields and pipeline in August 1998. It is necessary to mention that risks peculiar to underlined financial mechanism were mitigated through a good execution plan and strong sponsor guarantees. Concerning the sources of debt financing, Petrozuata raised USD$ 450 mn as a loan from commercial banks with loan guarantees from bilateral and multilateral agencies, such as U.S. ExIm Bank, Export Development Corporation of Canada, OPIC and IFC. Those agencies would mitigate Venezuela’s political and economic instability by providing political risk insurance. However, the major funding source of the project was the American private placement market. Petrozuata received USD$ 1 bn of debt from the Rule 144A market. These bonds were chosen because of the additional advantage of speed and less onerous disclosure requirements imposed by the Securities and Exchange Commission. Petrozuata project had three main components: a series of inland wells to produce the crude, a pipeline system to transport the crude to the coast, and an upgrader facility to partially refine the crude. It was unusual and a highly complicated to finance multiple component projects on a standalone basis. A special system of contracts and commitments were designed and implemented to make the project feasible. A detailed scheme of contracts and commitments is provided in Figure 2. For instance, sponsors mitigated the incentive problem and managerial inefficiency by creating a small board of directors comprised of two directors from each sponsor, and using compensation contracts for managers that were linked to the project performance. Also was realized the major benefit of project finance: public-sector management was substituted for private-sector. The construction risk was allocated to sponsors. Conoco and Maraven agreed to provide funds for any cost overruns prior to completion. Also, the parent companies guaranteed these obligations. The guarantee has a unique structure in terms of the difference in ratings between parties – DuPont (AA-) and PDSVA (B). The parties agreed to include severe penalties for failing to meet their obligations and incentives to cover the other party’s shortfalls. It was a good example of how project finance could substitute the lack of development in emerging countries. After construction would be completed, together with major risks, the sponsor guarantees would also end and the project would become non-recourse to the sponsors. Figure 2: Petrozuata contracts and commitments Source: (Esty 1998) 25 Secondly, sponsors considered within the budget, a USD$ 38 mn contingency for upstream facilities, a USD$ 139 mn contingency for downstream facilities, and sufficient funds to pay premiums on a construction all risk insurance policy covering up to USD$ 1.5 bn of physical loss or damage. Another risk allocation mechanism in the current project was the use of an off-take agreement with the guarantee from the parent company DuPont. According to this agreement, Conoco took an obligation toward Petrozuata to purchase the first 86.6% of Petrozuata’s syncrude, for the whole 35-year life of the project, based on the market price. Moreover, the project company had the right to sell the syncrude to third parties if it could get a higher price. Such scheme eliminate ex post bargaining costs, and deter opportunistic behavior by providing incentives to both sponsors to act in the project’s best interest in the area where contracts would have been costly or impossible to write. Also, with an arrangement authorized by the Venezuelan government the project had a prioritization of cash flows as a main element of the contractual agreements. Petrozuata’s customers would deposit their dollar-denominated funds from the purchases into and offshore account maintained by Banker Trust, governed by the law of New York. Afterwards, the Trustee would disburse the money according to a payment hierarchy. First, the Trustee would make the transfer to a 90-day operating expense account; second, to service the project’s debt obligations; and, third, make deposits to a Debt Service Reserve Account as needed to maintain six months of principal interest. Finally, the project implemented a â€Å"cash trap† basically meaning that if the project maintains an one-year historical and one-year projected Debt Service Coverage Ratio of 1.35X, then the Trustee would transfer any remaining funds to Petrozuata for distribution to its equityholders. To sum up, Petrozuata is an example of the effective use of project finance in developing countries. The adverse circumstances following financial closure provide further evidence of the durability and merits of the project finance structure. The deal set numerous precedents in the bank and capital markets. For these

Essay --

Throughout the course of science, animal cloning has been occurring for many years. Due to the newly developed technology, it has opened up the idea of cloning human. Cloning is â€Å"A DNA sequence, such as a gene, that is transferred from one organism to another and replicated by genetic engineering techniques.† This method happens asexually and can only be found in certain bacteria and plants. For human cloning to occur it will have to be done outside of the physical human body, where an egg is taken and DNA is inserted and then it is put back into the womb for development. There may be many benefits to human cloning, but there are many ethical concerns that many arise in idea of human cloning. In Leon R. Kass article Cloning of Human Beings, Kass â€Å"urges the commission to declare human cloning deeply unethical and to recommend a legal ban.† (Kass 577) In order to fully understand the ethical concerns that may arise in the idea of human cloning and genetic engineering, lets define the two. Kass defines cloning as a form of asexual reproduction in which an individual or individuals are created up to be genetically identical to and already living organism, by the form of a test tube in a lab. The notion of human cloning involved the extraction of an unfertilized egg from a woman, and the removal of the nucleus which homes all the genetic information, and replacing it with the nucleus from the specialized cell of another organism. According to the Webster’s dictionary, genetic engineering is the â€Å"scientific alteration of the structure of genetic material in a living organism. It involves the production and use of recombinant DNA and has been employed t o create bacteria that synthesize insulin and other human proteins.† Kass states ... ... In my opinion, I think that being born a clone is one thing, but the fact of living up to the expectations of the person your parents never got to be is merely wrong and unethical. The issue brought up many time is the fact that human cloning has not been proven to result in a healthy cloned baby with no defect, so my question is if the baby is born with defects what are they to do sue their â€Å"parents†? In addition, if the cloned baby is born with many defects, what are the parents to do? Throw that baby away and keep trying the process of cloning until they have the perfect baby, now this will raise other ethical concerns. Living the life as a genetic creation, created I a laboratory with a group of scientist is just an awkward thought. These are only some the mental issues about cloning that should be considered when the thought of human cloning is at hand.

Child Labour Essay

Children are the flowers of heaven. They are the most beautiful and purest creation of God. They are innocent both inwardly and outwardly. No doubt, they are the beauty of this world. Early in the morning when the children put on different kinds of clothes and begin to go to schools for the sake of knowledge, we feel a specific kind of joy through their innocence. Introduction But there are children, those who cannot go to schools due to financial problems, they only watch others go to schools and can merely wish to seek knowledge. It is due to many hindrances and difficulties; desperate conditions that they face in life. Having been forced to kill their aspirations, dreams and other wishes, they are pressed to earn a living for themselves and for their families forgotten the pleasures of their childhood. When a child in order to earn his livelihood, does any kind of job, this act of earning a livelihood is called as Child Labour. Not all work done by children should be classified as child labour that is to be targeted for elimination. Children’s participation in work that does not affect their health and personal development or interfere with their education is generally regarded as being something positive. Whether or not particular forms of â€Å"work† can be called â€Å"child labour† depends on the child’s age, the type and hours of work performed and the conditions under which it is performed, as set out in the ILO Conventions. But before we go ahead, we must be clear about definition of child in our mind. In this regard United Nations International Children’s Emergency Fund (UNICEF)’s definition is regarded as standard, which defines â€Å"child† as anyone below the age of 18, and â€Å"child Labour† as some type of work performed by children below age 18. But, it must also be noted that individual governments may define â€Å"child† according to different ages or other criteria. Child and childhood are also defined differently by different cultures. a child is not necessarily defined by a fixed age. Social scientists point out that child’s abilities and maturities vary so much that defining a child’s maturity by calendar age can be misleading. Definition Child Labour is the natural outcome of extenuating circumstances, which evolve when the compelling forces of abject poverty, sprouting population, and non-existent facilities of health, education and welfare, exploited the deprived and disadvantaged populace. The International Labour Organization (ILO) defines child Labour as: 1- When a child is working during early age 2- He overworks or gives over time to Labour 3- He works due to the psychologically, socially, and materialistic pressure 4- He becomes ready to Labour on a very low pay History The concept of child Labour got much attention during the 1990s when European countries announced a ban on the goods of the less-developed countries because of child Labour. The curse gained power in the industrial revolution at the end of nineteenth century. The Victorian era became notorious for employing young children in factories and mines and as chimney sweeps. Child labour played an important role in the Industrial Revolution from its outset, often brought about by economic hardship. The children of the poor were expected to help towards the family budget, often working long hours in dangerous jobs for low pay, earning 10-20% of an adult male’s wages. In England and Scotland in 1788, two-thirds of the workers in 143 water-powered cotton mills were described as children. In 19th-century Great Britain, one-third of poor families were without a breadwinner, as a result of death or abandonment, obliging many children to work from a young age. Not only in the west, but also in the East and Middle-East countries, this curse was rooted in societies, but not as intensely, as in the West. With the passage of time, with growing economic pressure, people had no choice but to make their children share their economic burden and help them financially. Statistics According to estimates by International Labour Organization (ILO), in their report of 2006, the number of working children aged 5-14 years was globally190 million. Country Child Labour Remarks Asia 122 Million Greatest in Number Sub-Saharan Africa 50 Million 26% of total Latin America 5 Million Least Rest 13 Million – The following statistics summarise the key findings from the third ILO Global Report on Child Labour Accelerating action against child labour which contains new global estimates on child labour. Children comprise of 60% of the world’s total. On average, one child in every seven can be classified as a child labourer. The incidence of child labour is highest in Africa where 41% of 5-14 years old children are known to labour, compared with 25% in Asia and 17% in Latin America and Caribbean. In 2008, there were approximately 215 million child labourers, aged 5-17, in the world. Among them, 115 million children were in hazardous work (a term which is often used as a payment, only food and a place to sleep. Children in informal sector work receive no payment if they are injured or become ill, and can seek no protection if they suffer violence or are maltreated by their employer. 10% of these children are working 60 hours a week. Classification UNICEF has classified child work into three broad categories: 1. Within the Family Children are engaged without pay in domestic household tasks, agricultural pastoral work, handicraft/cottage industries etc. 2. Within the Family but outside the Home Children do agricultural/pastoral work which consists of (seasonal/ full-time) migrant labour, local agricultural work, domestic service, construction work and informal occupation e.g. recycling of waste- employed by others and self-employed. 3. Outside the Family Children are employed by others in bonded work, apprenticeship, skilled  trades (Carpet, embroidery, and brass/copper work), industrial unskilled occupations/ mines, domestic work, commercial work in shops and restaurants, begging, prostitution and pornography. Its further classifications are: a. Migrant Child Labour Child migrate from the rural area to the urban or from smaller to larger towns cities either with their families or alone. They migrate either for better employment opportunities or to escape from bondage b. Bonded Child Labour Children are pledged by their parents/guardians to employers in lieu of debts or payment. The rates of interest on loans are so high that the amount to be repaid accumulates every year, making repayment almost impossible c. Urban Child Labour The phenomenon of urban child labour includes street children. These children belong to three broad categories: i. Children on the Street Working children who have families but spend most of their time in streets They earn for themselves and may or may not contribute to the family income. ii. Children off the Streets Working children who have left their families in villages or towns and have migrated to the city. They do not have a place to live and hence spend their nights at the railway platforms, bus stands etc. They live independently and usually spend all that they earn in the same day. iii. Abandoned/Orphaned Children Working children without families or whose families have abandoned them They spend their lives on the streets without any kind of support and are hence the most exploited and abused of the lot. d. Invisible Child Labour Children work in the unorganized or/and informal sector. They do not come under the purview of law. They constitute a substantial proportion of the child labour in the country. Most of them do not go to school and are involved in criminal activities. Causes There are a number of causes which are responsible for this curse; some of the major of these is discussed as below: Poverty International Labour Organization (ILO) suggests poverty is the greatest single cause behind child labour. There is also the high inflation rate to contend with. As of 2008, 17.2% of the total population lives below the poverty line, which is the lowest figure in the history of Pakistan. Poverty levels in Pakistan appear to necessitate that children work in order to allow families to reach their target take†home pay. Literacy and Educational Problems Majority of the population of the country is illiterate. It is pitiful that they themselves do not want to get educated. This may be due to any of these reasons: Quality education is expensive. To get their children educated, parents have to work more and harder to meet the expenses. This leads to disappointment among the parents and they either send them to â€Å"Madrassas† or send them to work. A student who has just passed his matriculation exams, and unfortunately was not able to secure good marks has very dull chances of making a profitable career in the future. Thus he joins some workshop and starts learning mechanics which enables him to earn a livelihood in the future. This may take long, but this always works. There also exists a phobia among teen agers that education is very tough, demanding and difficult. So, sometimes they do not go for education and always are in quest of alternatives. Irrelevant, non-effective and non- standardized, non-vocational education has made schools and education system just a burden to society. Illiterate parents do not realize the need for a proper physical, emotional and cognitive development of their child. As they are illiterate, they do not realize the importance of education for their child. Traditional Values In third-world countries, where child labour was common, as well as in contemporary child labour of modern world, certain cultural beliefs have rationalized child labour and thereby encouraged it. Some view that work is good for the character-building and skill development of children. In many cultures, particular where informal economy and small household businesses  thrive, the cultural tradition is that children follow in their parents’ footsteps; child labour then is a means to learn and practice that trade from a very early age. Similarly, in many cultures the education of girls is less valued or girls are simply not expected to need formal schooling, and these girls pushed into child labour such as providing domestic services. Ignorance of Parents This is one of the important social cases often visible in step-parents and foster-parents. The parents are simply ignorant of adverse consequences of child labour. They just put their children to work and become contented that the total income of the house is increased. And if at all, they know about the circumstances, they are unaware of their rights and are less likely to complain or revolt. Sometimes, even adverse circumstances are noticed. The parents just leave their children alone and ask them to earn their livelihood themselves. Sometimes parents sell their children in order to repay debts or secure a loan. Ineffective Enforcement and Violation of the Legal Provisions Pertaining to Child Labour Even when laws or codes of conduct exist, they are often violated. For example, extensive subcontracting can intentionally or unintentionally hide the use of child labor. There may be a number of reasons for violation e.g. The laws may be vague, inconsistent or confusing. The government has not that much capabilities and resources to implement the laws. There may be some iron hands who do not want to implement the laws because of their own benefits. Justifications of Employers Child labour plays an important role in mills and factories because child labour is cheap, easily available, easily accessible and better managed as they are not able to unite against the exploitations. In countries with largest number of child labourers; India and Pakistan, mill owners justify the involvement of children in industry as they have nimble fingers which enable them to give special attention to details. Some, sort of work, they argue, can’t be done by adults as flawlessly as done by children e.g. embroidery, football stitching, carpeting, delicate glassware etc. On the  side of the firms, the low cost of child labour gave manufacturers a significant advantage in the Western marketplace, where they undersell their competitors from countries prohibiting child labour, often by improbable amounts. Other Factors Child soldiers are forcibly enlisted into military services and operations. The international sex trade places great value on child prostitutes. Girls and to a lesser extent boys also, are kidnapped from their homes (or sold) to networks of child traffickers supplying overseas markets: poverty and sexual and racial discrimination also drive children into tourist sex trade. Other factors may include high rate of inflation, population explosion, unemployment, uneven distribution of wealth and resources, discrimination among the nation and against minority groups, poor infra-structure, outdated social customs and norms and plethora of other factors. Forms of Child labour During the year 2001 and 2002 the government of Pakistan carried out a series of consultation of tripartite partners and stakeholders (Labour Department, trade unions, employers and NGOs) in all the provinces. The objective was to identify the occupations and the categories of work, which may be considered as hazardous under the provisions of ILO Convention 182. As a result of these deliberations, a national consensus list of occupations and categories of work was identified, which is given below: Work inside underground mines over ground quarries, including blasting and assisting in blasting Work with power driven cutting machinery like saws, shears, and guillotines, ( Thrashers, fodder cutting machines, also marbles) Work with live electrical wires over 50V. All operation related to leather tanning process e.g. soaking, de-hairing, liming chrome tanning, de-liming, pickling de-fleshing, and ink application. Mixing or application of pesticides insecticide/fumigation. Sandblasting and other work involving exposure to free silica. Work with exposure to All toxic, explosive and carcinogenic chemicals e.g. ammonia, chlorine, sulphur dioxide, organic and inorganic acids, caustic soda, phosphorus, epoxy, resins, metal fumes of heavy metals like nickel, mercury chromium, lead, arsenic etc. Work with exposure to cement dust (cement industry and  construction industry) Work with exposure to coal dust Manufacture and sale of fireworks explosives Work at the sites where Liquid Petroleum Gas (LPG) and Compressed Natural Gas (CNG) are filled in cylinders. Work on glass and metal furnaces Football stitching and making of toys Work in the clothe printing, dyeing and finishing sections Work inside sewer pipelines, pits, storage tanks Stone crushing Lifting and carrying of heavy weight specially in transport industry ( 15kg and above) Work between 10 pm to 8 am ( Hotel Industry) Carpet waving Working 2m above the floor All scavenging including garbage and hospital waste Tobacco processing ( including Niswar) and Manufacturing Deep fishing ( commercial fishing/ sea food and fish processing Sheep casing and wool industry Ship breaking Surgical instrument manufacturing specially in vendors workshop Bangles glass, furnaces Beggary, prostitution and other criminal activities Laws and Reforms Before we talk about labour laws, let’s first have a look at the constitutional provisions pertaining to child labour. †¢ Article 3: The state shall ensure the elimination of all forms of exploitation and the gradual fulfillment of fundamental principle, from each according to his ability and to each according to his work. †¢ Article 11(3): No child below the age of 14 years shall be engaged in any factory or mine or any other hazardous employment. †¢ Article 25(A): The state shall provide free and Setting-up credit and savings schemes in an attempt to provide alternatives to bonded labour. Vocational education is also one of the major clauses compulsory to all children of the age of five to sixteen years in such manner as determined by law. †¢ Article 37(e): The state shall make provision for securing just and humane conditions of work, ensuring that women and  children are not employed in vacations unsuited to their age or sex, and for maternity benefits for women in employment. Following instruments of legislation deal exclusively with the subject of child labour. †¢ The Employment of Children Act 1991 †¢ The Employment of Children Rules 1995 Other than these two, there are other laws as well which deal with the employment of children and regulate the working conditions for employed child workers. Mines Act, 1923 The Children (Pledging of Labour) Act, 1933 The Factories Act, 1934 The Road Transport Workers Ordinance, 1961 Shops and Establishments Ordinance, 1969 The Bonded Labour System Abolition Act 1992. The Punjab Compulsory Education Act 1994 Merchant Shipping Ordinance, 2001 Efforts to Reduce Child Labour Save the Children Movement Save the children has also been working with some of the sporting goods manufacturers represented by the Sialkot Chamber of Commerce and Industry (SCCI) and their international partner brands, represented by the World Federation of the Sporting Goods Industry (WFSGI). This joint effort is aimed at ensuring that children are not employed to stitch footballs. Save the Children has also worked on project with the British Secretary of State for International Development to phase out child labour in Sialkot. The  £750,000 donated by Britain will be spent on education and training, and also on SPARC SPARC has conducted research that goes into producing its publications, including three major books on child labour, juvenile justice and child rights. Its annual report The State of Pakistan’s Children and a large number of brochures, SPARC has conducted a number of research studies. SPARC has continued to ask successive governments to upgrade their laws to set a legal age limit for employment in Pakistan, although they have not been successful in doing so. Other NGOs Other NGOs that has worked on the issue of child labour in Pakistan includes organization such as UNICEF. UNICEF supported the NCCWD in drafting of the Child Protection Law and the Child Protection Policy and initiated the establishment of Child Protection Monitoring and Data Collecting System. Many other NGO such as ROZAN has work to protect the children. SPARC is also an NGO. Impacts on Society Some of the impacts of Child labour are as follows: Stunted growth of future generation Inability to contribute to and benefit from development Citizens with accumulated frustration Adult unemployment Depreciation in wages Rising poverty level and economic inequality Increased abuse rate of children Heightened crime rate Increased illiteracy Citizens with inferiority complex Malnourished and sick citizens Political instability Inter-generational phenomenon of child labour Increased constrictions in the development process Wasted human resources, talents and skills Suggestions to Eradicate Child Labour Possibly there can be no remedies for this problem. However short and long measures are possible. Rather child labour is banned in law but it is there as crime. However, it needs to draw the attention of concerns to the issue so that the root causes of issue may be explored and take a step forward with better strategy to cope with the issue systematically. The law-breakers must be punished accordingly. The parents of the children should be motivated for the purpose. The support mechanism should include schooling facilities, evolve marketing linkages of certain occupations and crafts by making communities the owner of their business preventing from external exploitation The children we employ in our homes will grow up and head  families of similarly low income. They will want their children to earn for them the same way they did for their parents. A steady family profession will be established, which will repeat and multiply in each generation. Until and unless we remove this economic incentive for having more children, poverty and population control will remain elusive. By refusing to employ a child in your home, you can help solve the problem As the provision of universal and compulsory education should be fixed upto matriculation at least, in the very start. This education should be completely free with free provision of books and uniform. The banks should advance loans for the affected families, as by micro credit banks, to start some cottage industry at their homes. Loans should be interest less and very small installments should be covered. All such cottage industries should work under the supervision of an expert. Also, facilitate and sensitize Government to take steps getting workers out of debt. For the purpose special funds might be allocated. Children used to labour can be best equipped with manual competence, by inducting them to technical and professional training. For them, special vocational institutes should be opened for best results, where education and technical knowledge shall go hand-in-hand. Small stipends shall virtually work wonders. Disabled children must receive priority attention due to their particular vulnerability to exploitation in the worst forms of child labour on the streets. Civil society and media’s engagement can change the attitude. It can raise awareness among people about child labour, population growth and its adverse effects on health and development, thus alleviating children’s vulnerability to get abused. Children should be guarded against hard work, in accordance with the children’s right and human rights. They should be provided opportunities to better their lot by giving them a chance to physically, intellectually, morally and socially to grow, develop and progress. Various international agencies are closely cooperating by providing monetary assistance besides material goods. All these materials and funds should be employed for their welfare, and, no one should be allowed to rob them of rightful privileges and facilities. In this respect, there is wide scope for N.G.O’s should come forward and chalk out practical planning for the alleviations of child labour. Summary The project is about a very controversial issue: Child Labour. The report  conveys that how the innocent creatures are bound to work for longer hours in very minute amount of income and gaining benefit of them. Child labor is a multi-dimensional issue. With no intentions of demystifying this complex, one would focus on the difference between child labor and child work, and possible consequences of deliberate or unaware exercise of the two terms interchangeably. Child labor reflects the violation of child rights leading to exploitation and deprivations of all kinds. Child work reflects social inequity and insecurity, dearth of social safety networks, magnitude of poverty, lacking of opportunities for health and education, and financial independence. The report also states the classifications, forms, reasons and impacts of child labour on society. It further talks about different laws and organization working for these laws. It also points out the ways to stop this curse. References en.wikipedia.org/wiki/child_labour www.ilo.org/global/topics/child-labour www.unicef.org/protection/files/child_labour.pdf www.ilo.org/ipec/facts www.continuetolearn.uiowa.edu/laborctr/child_labor/about/what_is_child_labor.html www.child-abuse.laws.com/child-labor www.childlabour.in www.childinfo.org/labour_education.html www.elct.org/about/overview.html www.tnchildlabour.tn.gov.in/causes.html www.childlabordata.com/the-effects.html Bibliography Child Labour & Educational Disadvantage a Review by Gordon Brown

How to Become an Optician

How to Become an Optician There’s a famous episode of The Twilight Zone where a stressed man survives a nuclear apocalypse, and is thrilled to be left alone with nothing to do but read great books, only to have his essential reading glasses broken beyond repair. If you’re familiar with it, or you depend on your glasses and contact lenses, you might be extra thankful for your optician. Opticians are healthcare professionals who work with ophthalmologists, optometrists, and patients to make sure that glasses and contact lenses are exactly as prescribed and customized for the patient. Opticians are key players in helping us see the world clearly. Here are some information on how to become an optician. The Day-to-DayOpticians, also known as dispensing opticians, work in medical offices or retail stores. They take a vision prescription from a doctor (typically an optometrist or an ophthalmologist) and work with the patient to find and fit the correct eyewear. They may also perform eye tests that help the ophthalmologist determine a patient’s prescription. Once the prescription is established, the optician is usually the one to help the patient select and fit glasses or contact lenses, educate patients on follow-up care, and manage patient records. Informally, the optician may be able to provide you with good insight into whether that pair of glasses looks good on you, but formally he or she can also make sure that your prescription is accurate, that everything fits comfortably, and that your eyewear works with your lifestyle and needs. They serve an essential role in vision healthcare.Opticians typically work standard 40-hour workweeks, but this may include evenings and weekends, especially in retail eye clinics and stores. Also, because of the retail component, customer service is often a big part of the job.For more on what it’s like to be an optician, check out these videos:An Optician’s Main FocusOptometrist vs Ophthalmologist vs OpticianThe Requirement sBecoming an optician doesn’t require a specific four-year degree. Many enter the field with a high school diploma, though some have an Associate’s degree or a certificate from a community or technical college. On-the-job training is more of a focus in this field than a specific degree. About half of U.S. states require that opticians are licensed, so be sure to check your own state’s requirements.Opticians should have strong skills in customer service, management, communication skills, math, and basic anatomy.The PayAccording to the Bureau of Labor Statistics (BLS), opticians earn a median salary of $34,280, or $16.48 per hour.The OutlookThanks to our electronic devices causing eye strain for the foreseeable future, the future is bright for opticians. The BLSÂ  expects demand for opticians to grow by 24% by 2024.

A Comparison Of Freud And Fromm Essays - Freudian Psychology

A Comparison Of Freud And Fromm Essays - Freudian Psychology A Comparison Of Freud And Fromm Sigmund Freud was born in Monrovia on May 6,1856. He entered the University of Vienna in 1873 at the age of 17. He finished his degree in 1881. Freud died in England in 1939. He was an active therapist, theorist and writer to the very end. ( Ewen 19-20) Erich Fromm was born four years after Freud in 1900 in Frankfurt, Germany. Unlike Freud, Fromm had no medical training in his background. He received his PHD from the University of Heidelberg and later studied at Berlin Psychoanalytic Institute. Erich Fromm died March 16, 1980 in Switzerland. (Ewen 187) While Freud and Fromm were contemporaries and shared some basic beliefs, their approach to most issues varied greatly. Freuds attitude was purely scientific. Fromm desired to humanize things. Fromm accepted the importance of unconscious, biological drives, repression and defense mechanisms, but rejected Freuds theory of id, ego and superego. Fromm did not believe in specific developmental stages. He believed that the growing child slowly learns to distinguish between I and not I, through contact with the environment, notably those involving the parents.(Ewen 194) Fromm contends that personality development continues into adulthood. He believes that if a child keeps up with the increasing feelings of isolation, that anxiety can be kept to a minimal and personality development proceeds normally. Freuds well-known theory is that the personality is determined during the first five years of life. He believes we proceed through a series of psychosexual stages: oral, anal, urethral, phallic, a latency period and genital. Freud contends that the genital stage is the goal of normal development and that it represents true maturity. ( Hansen 25-26) Fromm warns against pathogenic behavior because it can damage the childs sense of reliance. He believed healthy personality is illustrated by biophilia, love, creativity and reason. ( Ewen 195-196) These characteristics compromise the productive frame of orientation. The nonproductive frames include narcissism, necrophilia, dependence, compulsive strivings for power or wealth and the mechanisms of escape. Fromm had four other nonproductive orientations that he devoted a great deal of attention to. These were receptive, exploitative, hoarding and marketing. Three of these orientations can be loosely compared to Freuds oral-dependent, oral-sadistic and anal character without the sexual implications. Freud and Fromm both believed that dreams are the royal road to the unconscious. ( Ewen 198) Fromm agreed with Freud that dreams could serve the purpose of wish fulfillment, that the days events set them off, and that a person may conceal truths in different ways. While both men believed in dream symbols, Freud believed most dreams involved childhood sexual impulses and Fromm regarded many symbols as asexual. Fromm believed that dreams could have obvious and undisguised meanings that did not have to involve childhood conflicts. To understand Fromms approach to clinical diagnosis, his theory of character must first be understood. His theory of character development was that humans are distinguished from other animals by a larger neocortex with fewer instincts. Character shapes human instinct. Human survival is not merely a matter of physical survival, humans are social animals who must relate to others, and they are spiritual animals who must infuse their lives with meaning in order to function. Humans require a sense of hope to keep from turning off. They also require caring adults in the early years to be teachers that teach them to control their fears and passions and live in harmony with others. Religion both sacred and secular can give meaning to life and give a sense of identity and rootness. Fromm accepted Freuds definition of mental health saying that it is the capacity for love and productive work. Fromm also agreed with Freud in saying that psychopathology represents a difference in degree, rather than in kind. Fromm states that besides pathogenic behaviors that neurosis is often caused by the culture in which one lives. He says that neurosis consists of a conflict between two opposing forces. Which is when our healthy innate drives toward self-realization and independence are blocked by parental or societal influences. Freud states that neurosis invariably begins in infancy and childhood, however it may not become evident until much later in life. Some causes of neurosis is a lack of physical affection, overindulgence or

Root Cause Analysis Research Paper Example | Topics and Well Written Essays - 1250 words

Root Cause Analysis - Research Paper Example Teachers who line up students by gender affirm that both boys and girls should be treated differently. Culture is defined as the totality of socially transmitted behavior patterns, institutions, products of human thought and work, arts and beliefs (Sadker, 1994). Cultural competence is a set of values, congruent behaviors, beliefs and attitudes which enable people to work effectively in cross-cultural situations, as defined by Sadker (1994). Culture has a significant effect on how girls from different ethnic backgrounds learn, and instead of being seen as having distinct cultures, its presumed girls are the same as boys but just need a little help (Sadker, 1994). Implicit cultural assumptions of the school culture have often been imposed to those of other cultures. For example the Euro-American culture of research and communication, that supports cultural etiquettes which regulate appropriate expressions, is a strategy that works for a set of students and the same is true for other c ultures. Understanding of labeling results if not sorted out, miscommunication may arise when the cultural etiquettes cross unfamiliar range. ... Learning that educational performance and ability is not as important as being popular, is how girls are socialized today (Reay, 2001). Unlike boys, girls begin to define themselves at an early age. A study of a grade three classroom tested four types of girls in the class: the tomboys, spice girls, nice girls and the girlies. Through interviews conducted, researcher Diane Reay discovered, tomboys played sports with the boys, spice girls espoused girl-power and played ‘rate the boy’ on the play ground, and girlies were a group of girls who spent their time writing letters to and flirting with boys. Her research shows each group of girls defines their own femininities in relation to boys. (2001). By tolerating different behaviors from both girls and boys, the Reay study further shows how socialization of the girls occurs. Adults negatively view assertive behavior of girls as being disruptive. In Reay’s research, contrary to traditional femininity, the fact that the spice girls asserted themselves differently, it made them subjective to being labeled by their teachers as stubborn girls (2001). This enhances the notion that, boys who misbehave have the ability to assert themselves, while girls who do, are seen to have some kind of character defect (Reay, 2001). Educators who are not aware of the culture of the African American children for instance define their manners and behaviors as defiant and deviant and thus they do not know how to respond to them. Increase in dropout rates and losses in the time spent on education, are some of the things that happen due to suspension and frequent office visits. Children of color, unlike their white

Social Stratification and Social Inequality Essay

Social Stratification and Social Inequality - Essay Example As compared to America, Japan is a much more patriarchal society which means that culturally, it would be difficult to find women as head or corporations or even on the directorial board of a company. Chieko (2001) reports that the position of women in the workforce is less than forty percent which is far lower than international standards. Women are seen to be fulfilling their duties in traditional roles rather than modern roles which are more acceptable in America. A quick examination for the American Fortune 500 list of companies shows that in 2003, women held 14% of board seats in various companies while they only had a 10% representation back in 1995. One in ten companies on the same list had 25% or more women on the boards (Lockwood, 2005). On the other hand, when it comes to Japan, the Asian Human Rights Commission (2001, Pg. 1) reports that, â€Å"The equality of men and women has not been fully achieved in practice, for the traditional concept that the woman is to stay at home is still deeply rooted†. Even when the women get to work, they face issues which are similar to the ones faced by American women workers. Of course the American women have some recourse in terms of legal action against sexual harassment at work but Japan has no law against sexual harassment. The Japanese government knows that there is a problem with sexual harassment since their own survey has shown that half of women working in Japan have faced sexual harassment. Some reports place the figure as high as 70% of women having faced sexual harassment since the majority do not report it (Asian Human Rights Commission, 2001). Perhaps the most significant problem for women in Japan comes from the way some Japanese laws may be structured to work against women. For example, if a woman reports that she was raped, she may have to prove with physical evidence that she resisted the rape. Other factors, such as the courts considering physical violence to be a natural