We are ready to represent the best custom paper writing assistance that can cope with any task like How to make a citizen's arrest even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like How to make a citizen's arrest in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
How to Make a Citizen’s Arrest
When can you make a citizen’s arrest? In a citizen’s arrest many steps must be completed properly before restraining a person for their crime. By notifying the authorities, to see if there are other witnesses besides yourself, and you must be really careful during the process of making an arrest. If you witness a crime, it is your civic duty to report the crime to the police. When a crime is committed, you have the right and responsibility to make a “Citizen’s Arrest”. If you have witnessed a crime, and if you are brave enough to make an arrest (1) ask yourself certain questions, () take him down, () check for witnesses, (4) don’t use too much force, (5) and your not the same as a police officer.
The certain questions you may ask yourself before making an arrest Can I safely intervene without endangering others? Am I strong enough to detain the suspect? Am I sober? If the answer to any of these is “[hiccup] No,” call Popeye and hide behind elderly bystanders. But as a U.S. Citizen, you have the right to arrest it is granted by common law. But keep in mind that you need to witness or have some knowledge of an arrest able crime.
How can you take him down you ask? If you can’t wrestle up a posse to intimidate the perpeter into submission, you may have to get physical. Distract his attention, and then throw him to the ground on his belly and his arm behind him while applying your knee to the small part of his back. Your going to expect some grumpiness-felons consider a citizen’s arrests a professional embarrassment. “ Don’t you think you’re going to play Bruce Lee,” Deannette warns. “ Even police don’t have the right to use excessive or unwarranted force.” In fact, a little too violent arrest could render you criminally liable. Once the punk is immobilized, tell him that you’re arresting him and why; botching either technicality result in the suspect’s release on improper arrest methods and even lead to a civil suit against you for wrongful imprisonment. Finally turn the guy over to the authorities. And keep your eyes peeled for others that may be in danger.
The fixation to say when making an arrest, you should inform the person that you are doing so for particular crime in question, that you are taking them to the nearest Police officer. If there are any other witnesses present, try to get their help and ask for their names and addresses. This is really helpful so that they can back you up when you’re the one that gets accuse.
Do not use too much force when making a citizen’s arrest. If force is required to make the arrest, you should use only reasonable force to overcome any resistance being given; otherwise your actions could amount to an assault. You should be aware that the suspect has the right to resist your efforts to make the arrest you do not have the same powers as a police officer. Do you have any powers to search or question the person? No, you have no legal rights to search or seize anything from the person, nor to question him or her. Just some notes of caution even though you have the right to make a citizen’s arrest, you are not required to do so by law. If you feel it is necessary to make an arrest, you should proceed with caution, as the person in question may be well dangerous. You should also ensure that you have the proper grounds to make the arrest; if you do not you may open yourself to being sued for wrongful arrest.
When is it right to make the arrest? Well private citizen’s have the power to make the arrest in the following circumstances if the crime is being committed at night, if the crime being committed is punishable by three years’ imprisonment or more and if a person is attempting to escape from someone trying to make an arrest. As a general rule the offences for which one is likely to make a citizen’s arrest will be of a more serious nature, including murder, serious assault, drug offences, sex offences, breaking and entering, fraud and theft.
I strongly disapprove a person trying to do a citizen’s arrest because it is so dangerous and you may do it wrong where you may get sued.
Mind that the sample papers like How to make a citizen's arrest presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Showing posts with label paper example. Show all posts
Showing posts with label paper example. Show all posts
Saturday, February 23, 2013
Monday, October 22, 2012
A Raisin in the Sun
We are ready to represent the best custom paper writing assistance that can cope with any task like A Raisin in the Sun even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like A Raisin in the Sun in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
In life, everyone has dreams and goals that they wish to fulfill. Some achieve their dreams and other don’t, but it doesn’t matter whether or not you fulfill your dream, what really matters is what you are willing to do to get what you want. The play, A raisin in the Sun, by Lorraine Hansbery introduces a family called The Youngers and the obstacles they encounter while trying to fulfill their dreams of a better life. As the play progresses, it shows how their dreams get deferred and how they handle it.
The play revolves around a check for $10,000 that Mama is getting from the insurance company because of her husband’s death. Everyone in the family wants to know what she plans on doing with it. Walter Younger wants to buy a liquor store because he thinks he’ll make a lot of money, but it isn’t his money so he asks Mama. Mama says no because she thinks it is a waste of money, what she really wants is to buy a house where her family can live comfortable. Eventually, Mama gives Walter the other half of the money that she didn’t use to buy the house with. She tells him to save the money in a bank, but Walter doesn’t listen and looses the money. By the end, everything is settled and the Younger’s move into their house, even though they were offered money to move out of the neighborhood because it is a white neighborhood. The Younger’s will not let their dream be deferred because someone else wants them not to have it.
There is a reason to why Hansberry took the phrase from Langston Hughes poem “Harlem” and uses it as a title. This reason has to do with the characters dreams. They each have their own dreams and they also have one dream that the each want. Walter wants to own a business, so his family can prosper. Ruth wants what all women what and that is security. Beneatha wants to become a doctor so she can be independent. Mama’s dream is to own a house, so her family can live comfortable. The one dream they have in common is that they all want to live in a house, to feel proud of what they have. Yet, unfortunately their dreams get deferred.
Mind that the sample papers like A Raisin in the Sun presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
In life, everyone has dreams and goals that they wish to fulfill. Some achieve their dreams and other don’t, but it doesn’t matter whether or not you fulfill your dream, what really matters is what you are willing to do to get what you want. The play, A raisin in the Sun, by Lorraine Hansbery introduces a family called The Youngers and the obstacles they encounter while trying to fulfill their dreams of a better life. As the play progresses, it shows how their dreams get deferred and how they handle it.
The play revolves around a check for $10,000 that Mama is getting from the insurance company because of her husband’s death. Everyone in the family wants to know what she plans on doing with it. Walter Younger wants to buy a liquor store because he thinks he’ll make a lot of money, but it isn’t his money so he asks Mama. Mama says no because she thinks it is a waste of money, what she really wants is to buy a house where her family can live comfortable. Eventually, Mama gives Walter the other half of the money that she didn’t use to buy the house with. She tells him to save the money in a bank, but Walter doesn’t listen and looses the money. By the end, everything is settled and the Younger’s move into their house, even though they were offered money to move out of the neighborhood because it is a white neighborhood. The Younger’s will not let their dream be deferred because someone else wants them not to have it.
There is a reason to why Hansberry took the phrase from Langston Hughes poem “Harlem” and uses it as a title. This reason has to do with the characters dreams. They each have their own dreams and they also have one dream that the each want. Walter wants to own a business, so his family can prosper. Ruth wants what all women what and that is security. Beneatha wants to become a doctor so she can be independent. Mama’s dream is to own a house, so her family can live comfortable. The one dream they have in common is that they all want to live in a house, to feel proud of what they have. Yet, unfortunately their dreams get deferred.
Mind that the sample papers like A Raisin in the Sun presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Loft Analysis
We are ready to represent the best custom paper writing assistance that can cope with any task like Loft Analysis even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like Loft Analysis in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
Ice House Lofts
Additional Research
The Atlantic Star Ice & Coal Co. originally constructed this imposing structure in 16 and operated the facility until the late 160s, as one of Atlanta¹s largest producers of ice and coal. Braden Fellman Group began construction on this award winning project in the spring of 1. The project carefully incorporates the existing historic structure into a mix of nostalgic rehabilitation, and thoughtfully designed new construction that complements the property and the surrounding neighborhood.
This attention to detail led the project to be granted a Design award from the Decatur Historic Preservation Commission for Adaptive Reuse. The buildings feature a variety of studio, one, and two bedroom loft homes featuring dramatic architecture and abundant natural light. A combination of industrial and residential finishes make for unique, practical and beautiful lofts that also offer a great value. They are one of the few remaining rental lofts in Atlanta. Concrete columns, brick with pre-cast architectural elements, steel, and wood provide structure and detail in these spaces with 1 to 4 foot ceiling heights. Finishes such as full overlay, 4 maple cabinetry, cast iron enamel tubs, Kohler fixtures, digital appliances and Italian tile baths set the spaces apart from the typical rental product.
Notes from Visit
• 1 parking space per residence
• Big Elevators for moving
• Hardwood Hallways
• Units equipped w/ Hardwood Flooring extending up the staircase
• Industrial Carpeting upstairs
• Fairly new digital appliances
• Gas Range
• Cable/DSL Ready
• Ceiling Fans
• Niche under staircase for extra Storage
• Large mirrors in all baths
• Double Sinks
• Linoleum Flooring in Bath
• Exposed Brick and Duct Work
• Maple Cabinets
• 4 hour fitness center (Unimpressive)
• Small Unimpressive Rectangle Pool (Unimpressive)
• Outdoor Community Grills (Unimpressive)
Mattress Factory Lofts
Additional Research
The Mattress Factory is a unique and fascinating mixed-use complex, with approximately 175,000 square feet of creative commerical space and 171 loft residences, comprised of buildings dating back to 1864.
Formerly the home of the Southern Spring Bedding Company, the property had lost its industrial prominence. Its spirit was revived by an influx of working artists and artisans who were drawn to its dramatic spaces and astounding natural light. The property currently boasts an eclectic collection of some of Atlantas most prominent and aspiring artists and artisans.
The opportunity to live in these beautiful spaces has arrived. Designed by Surber, Barber, Choate and Hertlein Architects and constructed by Braden Fellman, Ltd., these historic lofts offer thoughtful architecture and design in the creative spirit of the development. Aged concrete displays a patina formed by generations of use. The unintentional sculpture of industrial machinery is juxtaposed with features such as full overlay maple finish cabinetry, tongue and groove pine flooring, cast iron enamel bath fixtures and Italian tile. All lofts offer fully featured kitchens and baths, gas appliances, and washer dryer connections. Natural light emanating from steel frame industrial windows illuminates floorplans which vary from affordable loft studios to 1800 square foot two-bedroom homes. Skyline views display the fireworks at Turner Stadium, the golden dome of the state capitol and the skyscrapers along the spine of Atlantas Peachtree street growth, from downtown to Buckhead.
Notes From Visit
• 18 ft. Ceilings
• Maple Cabinets
• Gas Range
• Walk-in Closets
• Italian Ceramic Tiles
• Wooden Beam Finishes
• Cable/DSL Ready
• Porcelain Sinks
• Cast Iron Enamal Tubs
• W/D Hookups
• Track Lighting
• Garbage Disposals
• Exposed Brick and Duct Work
• Stainless Steel available on select units
• Beige or Black Countertops
• Ceiling Fans
• No Pool, 4 hour Fitness Center
• Rooftop Deck w/ Great View of Skyline
Fulton Cotton Mill Lofts
Additional Research
The Fulton Cotton Mill is a complex of nine historic industrial buildings located 1 mile east of the central business district of downtown Atlanta. There is a total gross floor area of 550,000 sq. ft. on a 1.5 acre site. The buildings were built over a forty year period beginning in 1881 and the Mill operated continuously until 177. At its peak, the Mill employed ,600 workers, housing many of them in an adjacent company-owned village known as Cabbagetown. The Mill and village (previously sold to the residents) have been added to the National Register of Historic Places.
The kitchens are complete with European-style cabinets, refrigerators, gas ranges, and dishwashers. Most of the lofts have washer/dryer connections. In keeping with the industrial character of the buildings, all brickwork and timbers have been left exposed and sealed concrete floors have been included. Amenities include a controlled access gate system with an evening and weekend gate attendant, a pool area, cook-out/picnic deck with gas grills, fitness center, and laundry facility
Notes From Visit
• No Pantry Space
• No Breakfast Bar
• Large Storage Closet
• Linoleum Tile in Bath
• Regular Tub in Bath
• Ceiling Fans
• Industrial Carpet upstairs
• W/D Hookups
• Sealed Concrete Floors on main floor
• 18 ft. Ceilings
• Windows are enormous, plenty of natural light
• Exposed Brick and Duct Work
• Cable/DSL Ready
• Well Equipped Very Large 4-hour Fitness Center
• Large Community Pool w/ Grills
• Controlled Access Consistent throughout development
• 4 Hour Security on Site
Bass Lofts
Additional Research
Built in 1 as the boys high school for the City of Atlanta, Bass High School is located in the heart of Little Five Points � a thriving residential/retail neighborhood which has undergone an extensive revitalization effort. The 1,000-square-foot property contains 85 loft apartments laid out in the former classrooms and auditorium, including 8,000 square feet of gallery space. To preserve the character of the building, existing floors, doors, and windows and even a number of blackboards were left intact. The schools gymnasium houses 18 larger units. Thirty new units were also built on site. The arrangement of the existing and new buildings creates an outdoor courtyard with a swimming pool for the use of tenants and their guests.
Notes From Visit
• 14 Ft. Ceilings
• Sealed Concrete Floors
• 10 Foot Windows in Living Room
• Gas Range
• Fairly New Appliances
• Ceiling Fans
• Sealed Concrete Floors A select few have hardwood
• Industrial Carpet Upstairs
• W/D Hookups
• Regular Cast-Iron Bathtubs
• Hardwood Stairs on units w/ split floorplans
• Controlled access
• Community Pool (Basic) w/ Community Grill
• Exposed Brick/Concrete/Duct Work in some units
• Linoleum Flooring in Bath w/ Ceramic Tiles
• Large Storage Space and walk-in closets
• Floorplans vary extensively throughout development
• 4-Hour Fitness Center (Average)
Intown (Legacy) Lofts
Notes From Visit
• Brand New
• Retail on Bottom Floor of Development
• 10 Ft. Ceilings
• Brand New Stainless Steel Appliances
• Electric (Flat Surface) Stovetop
• Carpet in all Living areas
• Ceramic Tile (stone look) in kitchen
• Vinyl Tile in Bath
• Cultured Marble Counters in Bath
• Ceramic Tile in Bath
• Heavy Wood Front Door
• Exposed Duct Work
• Plastic Wide Blinds
• 1 Covered Parking spot per Residence
• 4 Hour Fitness Center
• Community Pool w/ Community Pool
• Business Center
• 4 Hour Concierge
• Day Spa
• DSL/ Cable Ready
• Controlled Access
• Washer/Dryer in Every Unit (Stackable)
The dramatic character of the auditorium lofts are different from anything Atlanta has to offer. Included in the various units are private decks, wrought iron spiral staircases, columns, and balconies!
Most of the gymnasium units are two levels with 0 foot ceilings in the living rooms. Two of the units include the original stairways leading from the main gym floor to the lower level and most of the lofts are more than 1500 square feet. The red brick walls of the gym are exposed and the original basketball court floor has bee4,400 in 16. In order to house the growing number of people looking for creative living spaces, Winter Properties, Inc. purchased the former Bass High School after it was declared surplus by the At
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xisting classrooms, auditorium, and gymnasium have been converted into 10 loft apartments and a uniquely designed new building consisting of 0 loft apartments have been added.
The space existing in the original classroom building enablednes), original classroom doors and transoms, and in some of thee original lockers remain in the first floor hallways.
The dramatic character of the auditorium lofts are different from anything Atlanta has to offer. Included in the various units are private decks, wrought iron spiral staircases, columns, and balconies!
Most of the gymnasium units are two levels with 0 foot ceilings in the living rooms. Two of the units include the original stairways leading from the main gym floor to the lower level and most of the lofts are more than 1500 square feet. The red brick walls of the gym are exposed and the original basketball court floor has been left intact.
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The new building includes two-level units with sealed concrete floors, 18 foot ceilings, and enormous windows which look onto either the pool or the beautifully landscaped grounds
Alta West
Additional Research
Wood Partners broke ground on a $7.7-million project on Howell Mill Road between 10th and 11th streets known as Alta West. The project, which at years end was well on its way to completion, includes 65 units of loft-style apartments constructed above 10,000 square-feet of retail and amenity space in four six-story buildings. The project, which includes both affordable and market-rate units, has 16 one-bedroom units and 6 two-bedroom units.
An innovative and flexible concrete ‘Outinard’ cast-in-place construction is to be utilized. In keeping with the neighborhood’s industrial character, the floors, walls and ceilings separating the individual units will be concrete. This method of construction allows units to have high ceilings common to buildings indigenous to the Artery. Of the 65 units, 50 will be for incomes $45,000 and below, in keeping with the empowerment zone tax abatement.
Notes From Visit
• Brand New Development
• Sealed Concrete Floors
• Linen Closet in Bath
• Mosaic Tiles mixed with Ceramic tiles in Shower/Tub
• Exposed Duct Work
• 10 Ft. Ceiling
• 8 Ft. Windows
• Thick Aluminum Blinds
• Brand New Black Appliances (Some Stainless Steel)
• Stone Backsplash
• Sliding Barn-doors (style) separations b/w bedroom and Hallway
• Each unit is equipped w/ its own Hot Water Heater
• T1- High Speed Access Ready
• Covered Parking for Each Residence
• Controlled Access
• Washer/Dryer in Every Unit (Stackable)
• Fancy Community Pool w/ Outdoor Grills
• State of the Art Fitness Center (plasma tv, sound system)
• CyberCafe w/ Internet hookup, faxes, Plasma Tv’s Espresso Machine
Post Biltmore
Additional Research
Adjacent to Atlantas historic Biltmore Hotel, Post Biltmore is a prime example of Posts long-term strategy to build mixed-use neighborhoods in growing cities around the country.
Featuring 76 one- and two-bedroom apartments, as well as lofts, Post Biltmores amenities include a beautifully landscaped courtyard, a rooftop terrace, and a fitness center. Post Biltmore also provides the latest PostSmart(R) technology in each unit. This high-tech package includes high-speed, always-on Internet access, computer networking capabilities and home office/small office connections.
Atlantas Midtown neighborhood has been recognized locally as a hotbed for high-tech offices and is in the midst of a major revival. Post Biltmore is within walking distance of the recently announced Georgia Tech business school campus, a new high-rise office building being constructed by BellSouth, and the North Avenue MARTA station, as well as numerous restaurants and retail outlets.
Notes From Visit
• Only 18 months old
• Concrete Flooring
• Maple/White Cabinets
• 10 Ft. Ceilings
• New Black Appliances
• Brick Wall Accent
• Exposed Duct Work
• Hardwood flooring (only on 6th Floor)
• Ceramic Tile Backsplash
• Electric Stove
• Berber in Bedroom
• Business Center w/ fax
• No Pool
• Courtyard w/ Grills
Summary/Proposal
After researching some of Atlanta’s top Loft Apartments, it has become clear that these communities were created with a similar vision. Each development, although varying significantly from site to site, all shared many of the same “loft” qualities. The loft idea is based around open floor plans, large living rooms, high ceilings, exposed brick/concrete, and an overall rustic atmosphere. It was interesting to tour what most would consider the ‘real’ lofts; renovated old warehouses and factories from the turn of the 1th and 0th centuries. The ‘real’ lofts on my tour consisted of the Ice House Lofts, Mattress Factory Lofts, the school portion of the Bass Lofts and the Fulton Cotton Mills Lofts. Each one has received high honors and awards for their renovation and design. They strive on the historical aspects of their surroundings, covering the walls with black & white photos of factory workers from the 1800’s and savoring a number of nostalgic artifacts from the original property. Although one gets a sense of being frozen back in time, the community offers many of the modern day amenities sought after by all residents; central heating/air, new appliances, cable/DSL capable, fitness center, pool, etc.
The ‘new’ lofts were eye opening as well. ‘New’ loft’s are the brand new developments built straight out of the ground using the loft concept. Examples of these were the back portion of the Bass Lofts, Intown (Legacy) Lofts, Alta West, and Post Biltmore. All were designed and built from scratch in the last 5 years. While these communities lack the historical attributes of the renovated warehouses, they all but made up for it by staying true to the loft qualities (floor plans). These developments are attracting residences with their high tech amenities and brand new construction appeal. They are even pulling some ‘real’ loft diehards.
Location is key. The grueling traffic in Atlanta is creating a rush back into city to avoid the everyday commute. Atlanta is also seeing a revitalization in mixed use communities and intown residences at an affordable price. It is my opinion that The James Jackson/Bolton Rd. Intersection can offer a prescription for this growing need. It lies in a portion of Atlanta that many are unaware of. It’s location offers easy access to various parts of the city and it’s interstates. It is also an area that is in desperate need of retail. I feel that the 6.1 acres located at the James Jackson/Bolton Rd. intersection is ideal for a mixed use residential community spearheaded by eye-catching retail stores at street level supporting a ‘new’ loft community above.
Mind that the sample papers like Loft Analysis presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Ice House Lofts
Additional Research
The Atlantic Star Ice & Coal Co. originally constructed this imposing structure in 16 and operated the facility until the late 160s, as one of Atlanta¹s largest producers of ice and coal. Braden Fellman Group began construction on this award winning project in the spring of 1. The project carefully incorporates the existing historic structure into a mix of nostalgic rehabilitation, and thoughtfully designed new construction that complements the property and the surrounding neighborhood.
This attention to detail led the project to be granted a Design award from the Decatur Historic Preservation Commission for Adaptive Reuse. The buildings feature a variety of studio, one, and two bedroom loft homes featuring dramatic architecture and abundant natural light. A combination of industrial and residential finishes make for unique, practical and beautiful lofts that also offer a great value. They are one of the few remaining rental lofts in Atlanta. Concrete columns, brick with pre-cast architectural elements, steel, and wood provide structure and detail in these spaces with 1 to 4 foot ceiling heights. Finishes such as full overlay, 4 maple cabinetry, cast iron enamel tubs, Kohler fixtures, digital appliances and Italian tile baths set the spaces apart from the typical rental product.
Notes from Visit
• 1 parking space per residence
• Big Elevators for moving
• Hardwood Hallways
• Units equipped w/ Hardwood Flooring extending up the staircase
• Industrial Carpeting upstairs
• Fairly new digital appliances
• Gas Range
• Cable/DSL Ready
• Ceiling Fans
• Niche under staircase for extra Storage
• Large mirrors in all baths
• Double Sinks
• Linoleum Flooring in Bath
• Exposed Brick and Duct Work
• Maple Cabinets
• 4 hour fitness center (Unimpressive)
• Small Unimpressive Rectangle Pool (Unimpressive)
• Outdoor Community Grills (Unimpressive)
Mattress Factory Lofts
Additional Research
The Mattress Factory is a unique and fascinating mixed-use complex, with approximately 175,000 square feet of creative commerical space and 171 loft residences, comprised of buildings dating back to 1864.
Formerly the home of the Southern Spring Bedding Company, the property had lost its industrial prominence. Its spirit was revived by an influx of working artists and artisans who were drawn to its dramatic spaces and astounding natural light. The property currently boasts an eclectic collection of some of Atlantas most prominent and aspiring artists and artisans.
The opportunity to live in these beautiful spaces has arrived. Designed by Surber, Barber, Choate and Hertlein Architects and constructed by Braden Fellman, Ltd., these historic lofts offer thoughtful architecture and design in the creative spirit of the development. Aged concrete displays a patina formed by generations of use. The unintentional sculpture of industrial machinery is juxtaposed with features such as full overlay maple finish cabinetry, tongue and groove pine flooring, cast iron enamel bath fixtures and Italian tile. All lofts offer fully featured kitchens and baths, gas appliances, and washer dryer connections. Natural light emanating from steel frame industrial windows illuminates floorplans which vary from affordable loft studios to 1800 square foot two-bedroom homes. Skyline views display the fireworks at Turner Stadium, the golden dome of the state capitol and the skyscrapers along the spine of Atlantas Peachtree street growth, from downtown to Buckhead.
Notes From Visit
• 18 ft. Ceilings
• Maple Cabinets
• Gas Range
• Walk-in Closets
• Italian Ceramic Tiles
• Wooden Beam Finishes
• Cable/DSL Ready
• Porcelain Sinks
• Cast Iron Enamal Tubs
• W/D Hookups
• Track Lighting
• Garbage Disposals
• Exposed Brick and Duct Work
• Stainless Steel available on select units
• Beige or Black Countertops
• Ceiling Fans
• No Pool, 4 hour Fitness Center
• Rooftop Deck w/ Great View of Skyline
Fulton Cotton Mill Lofts
Additional Research
The Fulton Cotton Mill is a complex of nine historic industrial buildings located 1 mile east of the central business district of downtown Atlanta. There is a total gross floor area of 550,000 sq. ft. on a 1.5 acre site. The buildings were built over a forty year period beginning in 1881 and the Mill operated continuously until 177. At its peak, the Mill employed ,600 workers, housing many of them in an adjacent company-owned village known as Cabbagetown. The Mill and village (previously sold to the residents) have been added to the National Register of Historic Places.
The kitchens are complete with European-style cabinets, refrigerators, gas ranges, and dishwashers. Most of the lofts have washer/dryer connections. In keeping with the industrial character of the buildings, all brickwork and timbers have been left exposed and sealed concrete floors have been included. Amenities include a controlled access gate system with an evening and weekend gate attendant, a pool area, cook-out/picnic deck with gas grills, fitness center, and laundry facility
Notes From Visit
• No Pantry Space
• No Breakfast Bar
• Large Storage Closet
• Linoleum Tile in Bath
• Regular Tub in Bath
• Ceiling Fans
• Industrial Carpet upstairs
• W/D Hookups
• Sealed Concrete Floors on main floor
• 18 ft. Ceilings
• Windows are enormous, plenty of natural light
• Exposed Brick and Duct Work
• Cable/DSL Ready
• Well Equipped Very Large 4-hour Fitness Center
• Large Community Pool w/ Grills
• Controlled Access Consistent throughout development
• 4 Hour Security on Site
Bass Lofts
Additional Research
Built in 1 as the boys high school for the City of Atlanta, Bass High School is located in the heart of Little Five Points � a thriving residential/retail neighborhood which has undergone an extensive revitalization effort. The 1,000-square-foot property contains 85 loft apartments laid out in the former classrooms and auditorium, including 8,000 square feet of gallery space. To preserve the character of the building, existing floors, doors, and windows and even a number of blackboards were left intact. The schools gymnasium houses 18 larger units. Thirty new units were also built on site. The arrangement of the existing and new buildings creates an outdoor courtyard with a swimming pool for the use of tenants and their guests.
Notes From Visit
• 14 Ft. Ceilings
• Sealed Concrete Floors
• 10 Foot Windows in Living Room
• Gas Range
• Fairly New Appliances
• Ceiling Fans
• Sealed Concrete Floors A select few have hardwood
• Industrial Carpet Upstairs
• W/D Hookups
• Regular Cast-Iron Bathtubs
• Hardwood Stairs on units w/ split floorplans
• Controlled access
• Community Pool (Basic) w/ Community Grill
• Exposed Brick/Concrete/Duct Work in some units
• Linoleum Flooring in Bath w/ Ceramic Tiles
• Large Storage Space and walk-in closets
• Floorplans vary extensively throughout development
• 4-Hour Fitness Center (Average)
Intown (Legacy) Lofts
Notes From Visit
• Brand New
• Retail on Bottom Floor of Development
• 10 Ft. Ceilings
• Brand New Stainless Steel Appliances
• Electric (Flat Surface) Stovetop
• Carpet in all Living areas
• Ceramic Tile (stone look) in kitchen
• Vinyl Tile in Bath
• Cultured Marble Counters in Bath
• Ceramic Tile in Bath
• Heavy Wood Front Door
• Exposed Duct Work
• Plastic Wide Blinds
• 1 Covered Parking spot per Residence
• 4 Hour Fitness Center
• Community Pool w/ Community Pool
• Business Center
• 4 Hour Concierge
• Day Spa
• DSL/ Cable Ready
• Controlled Access
• Washer/Dryer in Every Unit (Stackable)
The dramatic character of the auditorium lofts are different from anything Atlanta has to offer. Included in the various units are private decks, wrought iron spiral staircases, columns, and balconies!
Most of the gymnasium units are two levels with 0 foot ceilings in the living rooms. Two of the units include the original stairways leading from the main gym floor to the lower level and most of the lofts are more than 1500 square feet. The red brick walls of the gym are exposed and the original basketball court floor has bee4,400 in 16. In order to house the growing number of people looking for creative living spaces, Winter Properties, Inc. purchased the former Bass High School after it was declared surplus by the At
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xisting classrooms, auditorium, and gymnasium have been converted into 10 loft apartments and a uniquely designed new building consisting of 0 loft apartments have been added.
The space existing in the original classroom building enablednes), original classroom doors and transoms, and in some of thee original lockers remain in the first floor hallways.
The dramatic character of the auditorium lofts are different from anything Atlanta has to offer. Included in the various units are private decks, wrought iron spiral staircases, columns, and balconies!
Most of the gymnasium units are two levels with 0 foot ceilings in the living rooms. Two of the units include the original stairways leading from the main gym floor to the lower level and most of the lofts are more than 1500 square feet. The red brick walls of the gym are exposed and the original basketball court floor has been left intact.
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The new building includes two-level units with sealed concrete floors, 18 foot ceilings, and enormous windows which look onto either the pool or the beautifully landscaped grounds
Alta West
Additional Research
Wood Partners broke ground on a $7.7-million project on Howell Mill Road between 10th and 11th streets known as Alta West. The project, which at years end was well on its way to completion, includes 65 units of loft-style apartments constructed above 10,000 square-feet of retail and amenity space in four six-story buildings. The project, which includes both affordable and market-rate units, has 16 one-bedroom units and 6 two-bedroom units.
An innovative and flexible concrete ‘Outinard’ cast-in-place construction is to be utilized. In keeping with the neighborhood’s industrial character, the floors, walls and ceilings separating the individual units will be concrete. This method of construction allows units to have high ceilings common to buildings indigenous to the Artery. Of the 65 units, 50 will be for incomes $45,000 and below, in keeping with the empowerment zone tax abatement.
Notes From Visit
• Brand New Development
• Sealed Concrete Floors
• Linen Closet in Bath
• Mosaic Tiles mixed with Ceramic tiles in Shower/Tub
• Exposed Duct Work
• 10 Ft. Ceiling
• 8 Ft. Windows
• Thick Aluminum Blinds
• Brand New Black Appliances (Some Stainless Steel)
• Stone Backsplash
• Sliding Barn-doors (style) separations b/w bedroom and Hallway
• Each unit is equipped w/ its own Hot Water Heater
• T1- High Speed Access Ready
• Covered Parking for Each Residence
• Controlled Access
• Washer/Dryer in Every Unit (Stackable)
• Fancy Community Pool w/ Outdoor Grills
• State of the Art Fitness Center (plasma tv, sound system)
• CyberCafe w/ Internet hookup, faxes, Plasma Tv’s Espresso Machine
Post Biltmore
Additional Research
Adjacent to Atlantas historic Biltmore Hotel, Post Biltmore is a prime example of Posts long-term strategy to build mixed-use neighborhoods in growing cities around the country.
Featuring 76 one- and two-bedroom apartments, as well as lofts, Post Biltmores amenities include a beautifully landscaped courtyard, a rooftop terrace, and a fitness center. Post Biltmore also provides the latest PostSmart(R) technology in each unit. This high-tech package includes high-speed, always-on Internet access, computer networking capabilities and home office/small office connections.
Atlantas Midtown neighborhood has been recognized locally as a hotbed for high-tech offices and is in the midst of a major revival. Post Biltmore is within walking distance of the recently announced Georgia Tech business school campus, a new high-rise office building being constructed by BellSouth, and the North Avenue MARTA station, as well as numerous restaurants and retail outlets.
Notes From Visit
• Only 18 months old
• Concrete Flooring
• Maple/White Cabinets
• 10 Ft. Ceilings
• New Black Appliances
• Brick Wall Accent
• Exposed Duct Work
• Hardwood flooring (only on 6th Floor)
• Ceramic Tile Backsplash
• Electric Stove
• Berber in Bedroom
• Business Center w/ fax
• No Pool
• Courtyard w/ Grills
Summary/Proposal
After researching some of Atlanta’s top Loft Apartments, it has become clear that these communities were created with a similar vision. Each development, although varying significantly from site to site, all shared many of the same “loft” qualities. The loft idea is based around open floor plans, large living rooms, high ceilings, exposed brick/concrete, and an overall rustic atmosphere. It was interesting to tour what most would consider the ‘real’ lofts; renovated old warehouses and factories from the turn of the 1th and 0th centuries. The ‘real’ lofts on my tour consisted of the Ice House Lofts, Mattress Factory Lofts, the school portion of the Bass Lofts and the Fulton Cotton Mills Lofts. Each one has received high honors and awards for their renovation and design. They strive on the historical aspects of their surroundings, covering the walls with black & white photos of factory workers from the 1800’s and savoring a number of nostalgic artifacts from the original property. Although one gets a sense of being frozen back in time, the community offers many of the modern day amenities sought after by all residents; central heating/air, new appliances, cable/DSL capable, fitness center, pool, etc.
The ‘new’ lofts were eye opening as well. ‘New’ loft’s are the brand new developments built straight out of the ground using the loft concept. Examples of these were the back portion of the Bass Lofts, Intown (Legacy) Lofts, Alta West, and Post Biltmore. All were designed and built from scratch in the last 5 years. While these communities lack the historical attributes of the renovated warehouses, they all but made up for it by staying true to the loft qualities (floor plans). These developments are attracting residences with their high tech amenities and brand new construction appeal. They are even pulling some ‘real’ loft diehards.
Location is key. The grueling traffic in Atlanta is creating a rush back into city to avoid the everyday commute. Atlanta is also seeing a revitalization in mixed use communities and intown residences at an affordable price. It is my opinion that The James Jackson/Bolton Rd. Intersection can offer a prescription for this growing need. It lies in a portion of Atlanta that many are unaware of. It’s location offers easy access to various parts of the city and it’s interstates. It is also an area that is in desperate need of retail. I feel that the 6.1 acres located at the James Jackson/Bolton Rd. intersection is ideal for a mixed use residential community spearheaded by eye-catching retail stores at street level supporting a ‘new’ loft community above.
Mind that the sample papers like Loft Analysis presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Friday, July 20, 2012
Why a Graduate Degree?
We are ready to represent the best custom paper writing assistance that can cope with any task like Why a Graduate Degree? even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like Why a Graduate Degree? in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
WHY A GRADUATE DEGREE
I have been thinking about a graduate degree since I came to America three years ago and realized that my first one, from the best Bulgarian university does not mean a great deal here. Having earned such a degree from an American University will give me the gratifying feeling of reaching my goal, but the true reason for me going back to school is to learn.
I was fortunate not to have a true, dramatic immigrant start. Easy and quickly enough I found a prestigious and well-paid job with the company I used to work back home. Functioning in this environment has provided me with exceptional experience and wonderful foundation upon which to build. However, in order to advance in my career to a degree fully adequate to my abilities, I need the formal business training I presently lack. Your program seems particularly harmonious with all my requirements, not only because of its structure but also because of its pragmatic approach to teaching.
As a woman just turning 0, I find the present time most appropriate for beginning graduate business studies. My husband is in Law School; the decision to have children has been postponed and now I can relate my studies to my everyday work experience. This is the perfect time for me to return to school and satisfy my desire to broaden my knowledge and perspective.
Working in a company with so many MBA graduates, impressed upon me the value of a graduate business education and made me very eager to immerse myself in a program just like yours. I want to remove the mystery that now surrounds certain subjects, about which I am not as knowledgeable as I want to be. In addition to acquiring a much deeper understanding of finance, accounting, and other areas of business, I expect to emerge from your program with heightened credibility and the skills required, to compete more effectively in today’s challenging business environment. The caliber of the faculty and student population will provide me with a challenging and highly motivating environment in which to study. The interplay of ideas will be illuminating and provocative, and the contacts I will establish within the school will be assets to me as I continue my career.
I have learned in a classroom before, but I have learned substantive lessons in the arena of life. I have come to see that I am bright and capable, and that I have personal warmth that attracts other people and facilitates effective communication. As I look towards my future in your university, I believe one of my greatest assets will be my strength in dealing with others. I have exceptionally good instincts about other people and always seem to know how to approach them and how to talk to them. I expect my contacts with these people to be highly stimulating and I hope to be able to add to the quality and richness of the dialogue.
Mind that the sample papers like Why a Graduate Degree? presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
WHY A GRADUATE DEGREE
I have been thinking about a graduate degree since I came to America three years ago and realized that my first one, from the best Bulgarian university does not mean a great deal here. Having earned such a degree from an American University will give me the gratifying feeling of reaching my goal, but the true reason for me going back to school is to learn.
I was fortunate not to have a true, dramatic immigrant start. Easy and quickly enough I found a prestigious and well-paid job with the company I used to work back home. Functioning in this environment has provided me with exceptional experience and wonderful foundation upon which to build. However, in order to advance in my career to a degree fully adequate to my abilities, I need the formal business training I presently lack. Your program seems particularly harmonious with all my requirements, not only because of its structure but also because of its pragmatic approach to teaching.
As a woman just turning 0, I find the present time most appropriate for beginning graduate business studies. My husband is in Law School; the decision to have children has been postponed and now I can relate my studies to my everyday work experience. This is the perfect time for me to return to school and satisfy my desire to broaden my knowledge and perspective.
Working in a company with so many MBA graduates, impressed upon me the value of a graduate business education and made me very eager to immerse myself in a program just like yours. I want to remove the mystery that now surrounds certain subjects, about which I am not as knowledgeable as I want to be. In addition to acquiring a much deeper understanding of finance, accounting, and other areas of business, I expect to emerge from your program with heightened credibility and the skills required, to compete more effectively in today’s challenging business environment. The caliber of the faculty and student population will provide me with a challenging and highly motivating environment in which to study. The interplay of ideas will be illuminating and provocative, and the contacts I will establish within the school will be assets to me as I continue my career.
I have learned in a classroom before, but I have learned substantive lessons in the arena of life. I have come to see that I am bright and capable, and that I have personal warmth that attracts other people and facilitates effective communication. As I look towards my future in your university, I believe one of my greatest assets will be my strength in dealing with others. I have exceptionally good instincts about other people and always seem to know how to approach them and how to talk to them. I expect my contacts with these people to be highly stimulating and I hope to be able to add to the quality and richness of the dialogue.
Mind that the sample papers like Why a Graduate Degree? presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Sunday, July 15, 2012
italian painters
We are ready to represent the best custom paper writing assistance that can cope with any task like italian painters even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like italian painters in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
Michelangelo (1465-1564)
Michelangelo showed his means of expression in his paintings, and they were equally shown also in his poetry, architecture, and sculpture. Through his amazing work, he often seems the ultimate embodiment of the achievements of his age. In Michelangelo’s, “The Creation of Man”, Adam shown at the moment of creation already displays the vigor that Michelangelo gave to every human body. This is also true in Michelangelo’s version of David, showing his potential power in his massive, oversized head. In all of Michelangelo’s work, every one of them conveys the sense of latent strength of striving which was Michelangelo’s signature.
Raphael (148-150)
Raphael used ancient styles and mastery of perspective to produce works of perfect harmony, beauty, and serenity. His paintings give an impression of relaxation through scenes that are balance and at peace. Raphael’s “The School of Athens”, was his tribute to the ancient world. Raphael seemed to be saying that the artists are the crowning glory of the Renaissance.
Titian (148?-1576)
Titian is the most famous Venetian painter. His paintings depicted rich velvets, lush nudes and stormy skies which almost seemed real. Titian was Europe’s most sought after portraitist. Titian’s “Bacchanal”, represents the different stages of life, from the incontinent child to the vigorous youths and to the old adults. His paintings are recognized by the leading figures of his time, and sense their character, through his mastery of depictions.
Brueghel
Brueghel’s typical art work was down-to-earth portrayal. Brueghel’s “The Peasant Dance”, has most vivid images of life through the different human types and the earthiness of country life, which are captured in scenes that show villagers at both at work and at ease. In Brueghel’s “Carnival and Lent”, the painting shows one of the customary practices during the season of Lent giving alms to the poor. Brughel used beggars to convey a sense of the appearance and behavior of the unfortunate as well as the more comfortable members of society.
Bosch
Bosch’s paintings were an emphasis on religious belief. Bosch made gruesome paintings which depicted the fears of devils and of hell. Bosch put on canvas the demons, the temptations, and the terrible punishments for sin. Bosch explored the darker side of faith, getting his inspiration from the fear of damnation and the hope for salvation. His paintings portrayed a mixture of terror and devotion.
Mind that the sample papers like italian painters presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Michelangelo (1465-1564)
Michelangelo showed his means of expression in his paintings, and they were equally shown also in his poetry, architecture, and sculpture. Through his amazing work, he often seems the ultimate embodiment of the achievements of his age. In Michelangelo’s, “The Creation of Man”, Adam shown at the moment of creation already displays the vigor that Michelangelo gave to every human body. This is also true in Michelangelo’s version of David, showing his potential power in his massive, oversized head. In all of Michelangelo’s work, every one of them conveys the sense of latent strength of striving which was Michelangelo’s signature.
Raphael (148-150)
Raphael used ancient styles and mastery of perspective to produce works of perfect harmony, beauty, and serenity. His paintings give an impression of relaxation through scenes that are balance and at peace. Raphael’s “The School of Athens”, was his tribute to the ancient world. Raphael seemed to be saying that the artists are the crowning glory of the Renaissance.
Titian (148?-1576)
Titian is the most famous Venetian painter. His paintings depicted rich velvets, lush nudes and stormy skies which almost seemed real. Titian was Europe’s most sought after portraitist. Titian’s “Bacchanal”, represents the different stages of life, from the incontinent child to the vigorous youths and to the old adults. His paintings are recognized by the leading figures of his time, and sense their character, through his mastery of depictions.
Brueghel
Brueghel’s typical art work was down-to-earth portrayal. Brueghel’s “The Peasant Dance”, has most vivid images of life through the different human types and the earthiness of country life, which are captured in scenes that show villagers at both at work and at ease. In Brueghel’s “Carnival and Lent”, the painting shows one of the customary practices during the season of Lent giving alms to the poor. Brughel used beggars to convey a sense of the appearance and behavior of the unfortunate as well as the more comfortable members of society.
Bosch
Bosch’s paintings were an emphasis on religious belief. Bosch made gruesome paintings which depicted the fears of devils and of hell. Bosch put on canvas the demons, the temptations, and the terrible punishments for sin. Bosch explored the darker side of faith, getting his inspiration from the fear of damnation and the hope for salvation. His paintings portrayed a mixture of terror and devotion.
Mind that the sample papers like italian painters presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Friday, July 13, 2012
Comparison of The house of the spirits and Like water for chocolate
We are ready to represent the best custom paper writing assistance that can cope with any task like Comparison of The house of the spirits and Like water for chocolate even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like Comparison of The house of the spirits and Like water for chocolate in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
The examination of complicated love in The House Of the Spirits, and Like Water For Chocolate.
The purpose of this assignment is to show the importance of complicated love in two of Latin American novels. This theme introduces a great deal of family drama and indeed makes the novel more interesting. Complicated love basically revolves around love that was either incomplete or it did succeed in the end, but after a series of conflicts and complications. This theme helps in the development of the plot. Through it we are taken on a journey of the Latin American culture. This is because the traditions and the different social status lead to all the conflicts in love, and that is why Latin American culture influences this theme in many ways. It also suggests that love does not always win, readers also feel very disappointed by the fact that there is not always a happy ending. Basically it converts a dull love story into a page-turner, and probably this is why both the authors use complicated love in their novels. Both the novels The House Of The Spirits and Like Water For Chocolate provide many examples of unsuccessful love. This theme helps us to compare reality to fiction. In both the novels the authors provide various kinds of love that are complicated. This means love on family relationships. This gives the reader a broad view of how this love revolves from relationship to relationship, and also helps us to compare the consequences and emotions of each feeling.
In the novel The House Of The Spirits the author Isabel Allende uses several examples of unsuccessful love. It can be said that Esteban, who is the protagonist of the novel, has been a victim of complicated love more than once. Esteban is greatly in love with Clara, but she on the other hand is free spirited and in her own world. It can be seen that Clara does not really love Esteban no matter what he does. “The more distant I became, the more I needed her love. The desire I had for her when we married had not diminished… Her spirit wasn’t with me, our life became a torment”1. It can be seen that Esteban really wanted Clara, but she was not the least interested. “She calmly explained that our marriage had deteriorated and that she had lost her natural inclination for the pleasure of the flesh. She concluded that if we had nothing to say to each other, we would also be unable to share a bed…” Despite the growing tensions between them, Esteban was still greatly in love with Clara. This example proves how complications in love can truly bring the downfall of a person. By using this situation the author creates great intensity in the novel, because she does not create a happy ending, as people would expect. “Clara never spoke to her husband again. She stopped using her married name and removed the gold ring…” She did this because Esteban treated his own daughter Blanca very harshly, here we can see conflict in family, where the mother and the daughter do not want to have any relationship with their husband and father. This is where complicated and incomplete love really is acknowledged.
In the novel Like Water for chocolate, we come across the love of John and Tita, this love was one sided similar to Esteban from the House of the Spirits. Tita was not sure if she loved John because she still has strong feelings for Pedro. And in the end Pedro wins, but John never looked upon him as his rival. By adding this relationship to the novel the author Laura Esquivel definitely makes the novel more interesting although sad. As John truly loved Tita, but he could not have her love in return.
Another example for complicated love is between Esteban and Ferula. From the very beginning in The House Of The Spirits, it is shown that Ferula was extremely jealous of her brother, Esteban. This was because Esteban was allowed to do whatever he wanted, but Ferula had to take care of her mother, and she had sacrificed her entire life in taking care of her mother, as this was part of the Latin American culture. This shows that there is a great importance of cultural setting and it is reflected in many areas of the novel. This brings in a feeling that a pure relationship like that of a brother and sister, is overwhelmed by jealousy, it definitely shows that conflicts and complications can occur in blood relationships as well and it gives the reader something to think about. “It bothered her to have to stay up locked up within these walls that stank of medicine and age, to be kept awake at night my the moans of her sick mother…While her brother had no taste of such obligations. Before him lay a destiny that was bright, he could marry and know what love was”4
Later on in the novel Ferula and Clara become really close, this greatly upsets Esteban and he is jealous of Ferula. It can be seen that there is a reverse feeling between the two, and he feels about Ferula they way she felt about him before. He discards Ferula and asks her to leave their house in reaction Ferula curses him. “I set my curse on you, Esteban, You will always be alone! Your body and soul will shrivel up and youll die like a dog!”5 This curse is mainly a result of complicated love. It can be seen that the characterization leads to conflict, and in this way the author greatly intensifies this situation, and it is hard to believe that there can be such hatred in this kind of relationship.
This can be compared to the relationship between Tita and Rosaura in Like Water For Chocolate. There was great jealousy between them, as they both wanted to be with Pedro. “…I married him because that’s what he wanted. If you had the tiniest scarp of pride you would have put him out of your mind forever… Let him go to a loose woman like you for his filthy needs”6 Rosaura had really developed great hatred for Tita and this was indeed a result of complicated love, because of jealousy among two sisters as they were in love with the same man.
The author Laura Esquivel creates a temperamental relationship between a mother and a daughter in Like Water for Chocolate. Tita did love Mama Elena, but since the time she wants to get married, this is where all the problems begin. “You don’t have an opinion, and that’s all I want to hear about it. For generations, not a single person in my family has ever questioned this tradition, and no daughter of mine is going to be the one to start”7. Here the author again portrays the Latin American culture, where women are meant to be at home and look after their parents. This is exactly the same as the example of Ferula in The House Of The Spirits. The characterization of Mama Elena is portrayed to be extremely strict, and a mother that would be hated by her own daughter. This is actually the backbone of this novel, as without this conflict the story would not go on. Thus we see the importance of complicated love. Being a female reader it makes me very disappointed to learn about the harsh family traditions that were practiced, which seem unfair to the women under this culture. It makes a very sad state for Tita, and creates great sympathy towards her.
Another example of unsuccessful love in this novel is that of Mama Elena and Jose Trevino. “Jose was the love of her life. She had not been allowed to marry him because he had Negro blood in his veins…When Mama Elena’s parents discovered… they forced her into immediate marriage with Juan De la Garza…”8 Here again cultural setting has affected love, as she was not allowed to marry someone with Negro blood in him. This shows that Mama Elena’s family was of a high social class and would only let her marry someone who was pure blood of the similar class. This relationship is also a turning point in how Tita felt about Mama Elena, as she was living a life with frustrated love. Mama Elena must have been tormented by this all her life, which would have probably been the basis of her strict and sometimes heartless character, as she did not receive all the happiness she wanted.
Lastly, it can be said that this theme greatly affects the novel, and it iss a very good technique used by the authors. This theme also conveys a great deal about the Latin American culture and traditions, and their attitude towards women. Complicated love of course, does not always have a happy ending, and this is where the novels are quite different from others. As said before it compares fiction to reality, and shows us that love does not necessarily win.
1.Allende, Isabel. The House Of The Sprits.
Great Britain Jonathan Cape Ltd, 185
.Esquivel, Laura. Like Water For Chocolate.
Great Britain Doubleday, 1
Mind that the sample papers like Comparison of The house of the spirits and Like water for chocolate presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
The examination of complicated love in The House Of the Spirits, and Like Water For Chocolate.
The purpose of this assignment is to show the importance of complicated love in two of Latin American novels. This theme introduces a great deal of family drama and indeed makes the novel more interesting. Complicated love basically revolves around love that was either incomplete or it did succeed in the end, but after a series of conflicts and complications. This theme helps in the development of the plot. Through it we are taken on a journey of the Latin American culture. This is because the traditions and the different social status lead to all the conflicts in love, and that is why Latin American culture influences this theme in many ways. It also suggests that love does not always win, readers also feel very disappointed by the fact that there is not always a happy ending. Basically it converts a dull love story into a page-turner, and probably this is why both the authors use complicated love in their novels. Both the novels The House Of The Spirits and Like Water For Chocolate provide many examples of unsuccessful love. This theme helps us to compare reality to fiction. In both the novels the authors provide various kinds of love that are complicated. This means love on family relationships. This gives the reader a broad view of how this love revolves from relationship to relationship, and also helps us to compare the consequences and emotions of each feeling.
In the novel The House Of The Spirits the author Isabel Allende uses several examples of unsuccessful love. It can be said that Esteban, who is the protagonist of the novel, has been a victim of complicated love more than once. Esteban is greatly in love with Clara, but she on the other hand is free spirited and in her own world. It can be seen that Clara does not really love Esteban no matter what he does. “The more distant I became, the more I needed her love. The desire I had for her when we married had not diminished… Her spirit wasn’t with me, our life became a torment”1. It can be seen that Esteban really wanted Clara, but she was not the least interested. “She calmly explained that our marriage had deteriorated and that she had lost her natural inclination for the pleasure of the flesh. She concluded that if we had nothing to say to each other, we would also be unable to share a bed…” Despite the growing tensions between them, Esteban was still greatly in love with Clara. This example proves how complications in love can truly bring the downfall of a person. By using this situation the author creates great intensity in the novel, because she does not create a happy ending, as people would expect. “Clara never spoke to her husband again. She stopped using her married name and removed the gold ring…” She did this because Esteban treated his own daughter Blanca very harshly, here we can see conflict in family, where the mother and the daughter do not want to have any relationship with their husband and father. This is where complicated and incomplete love really is acknowledged.
In the novel Like Water for chocolate, we come across the love of John and Tita, this love was one sided similar to Esteban from the House of the Spirits. Tita was not sure if she loved John because she still has strong feelings for Pedro. And in the end Pedro wins, but John never looked upon him as his rival. By adding this relationship to the novel the author Laura Esquivel definitely makes the novel more interesting although sad. As John truly loved Tita, but he could not have her love in return.
Another example for complicated love is between Esteban and Ferula. From the very beginning in The House Of The Spirits, it is shown that Ferula was extremely jealous of her brother, Esteban. This was because Esteban was allowed to do whatever he wanted, but Ferula had to take care of her mother, and she had sacrificed her entire life in taking care of her mother, as this was part of the Latin American culture. This shows that there is a great importance of cultural setting and it is reflected in many areas of the novel. This brings in a feeling that a pure relationship like that of a brother and sister, is overwhelmed by jealousy, it definitely shows that conflicts and complications can occur in blood relationships as well and it gives the reader something to think about. “It bothered her to have to stay up locked up within these walls that stank of medicine and age, to be kept awake at night my the moans of her sick mother…While her brother had no taste of such obligations. Before him lay a destiny that was bright, he could marry and know what love was”4
Later on in the novel Ferula and Clara become really close, this greatly upsets Esteban and he is jealous of Ferula. It can be seen that there is a reverse feeling between the two, and he feels about Ferula they way she felt about him before. He discards Ferula and asks her to leave their house in reaction Ferula curses him. “I set my curse on you, Esteban, You will always be alone! Your body and soul will shrivel up and youll die like a dog!”5 This curse is mainly a result of complicated love. It can be seen that the characterization leads to conflict, and in this way the author greatly intensifies this situation, and it is hard to believe that there can be such hatred in this kind of relationship.
This can be compared to the relationship between Tita and Rosaura in Like Water For Chocolate. There was great jealousy between them, as they both wanted to be with Pedro. “…I married him because that’s what he wanted. If you had the tiniest scarp of pride you would have put him out of your mind forever… Let him go to a loose woman like you for his filthy needs”6 Rosaura had really developed great hatred for Tita and this was indeed a result of complicated love, because of jealousy among two sisters as they were in love with the same man.
The author Laura Esquivel creates a temperamental relationship between a mother and a daughter in Like Water for Chocolate. Tita did love Mama Elena, but since the time she wants to get married, this is where all the problems begin. “You don’t have an opinion, and that’s all I want to hear about it. For generations, not a single person in my family has ever questioned this tradition, and no daughter of mine is going to be the one to start”7. Here the author again portrays the Latin American culture, where women are meant to be at home and look after their parents. This is exactly the same as the example of Ferula in The House Of The Spirits. The characterization of Mama Elena is portrayed to be extremely strict, and a mother that would be hated by her own daughter. This is actually the backbone of this novel, as without this conflict the story would not go on. Thus we see the importance of complicated love. Being a female reader it makes me very disappointed to learn about the harsh family traditions that were practiced, which seem unfair to the women under this culture. It makes a very sad state for Tita, and creates great sympathy towards her.
Another example of unsuccessful love in this novel is that of Mama Elena and Jose Trevino. “Jose was the love of her life. She had not been allowed to marry him because he had Negro blood in his veins…When Mama Elena’s parents discovered… they forced her into immediate marriage with Juan De la Garza…”8 Here again cultural setting has affected love, as she was not allowed to marry someone with Negro blood in him. This shows that Mama Elena’s family was of a high social class and would only let her marry someone who was pure blood of the similar class. This relationship is also a turning point in how Tita felt about Mama Elena, as she was living a life with frustrated love. Mama Elena must have been tormented by this all her life, which would have probably been the basis of her strict and sometimes heartless character, as she did not receive all the happiness she wanted.
Lastly, it can be said that this theme greatly affects the novel, and it iss a very good technique used by the authors. This theme also conveys a great deal about the Latin American culture and traditions, and their attitude towards women. Complicated love of course, does not always have a happy ending, and this is where the novels are quite different from others. As said before it compares fiction to reality, and shows us that love does not necessarily win.
1.Allende, Isabel. The House Of The Sprits.
Great Britain Jonathan Cape Ltd, 185
.Esquivel, Laura. Like Water For Chocolate.
Great Britain Doubleday, 1
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Thursday, July 12, 2012
"PAPI. Why can't you write happy things?"
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Why cant you write happy things? Edwidge Danticat was asked. This question sounds like a very ridiculous and naive question to ask. As for myself, it is enough to perform a very basic revision of her life in order to understand why she cant write happy things about her life. The way, in which I was able to understande this story Papi I found it to be mostly as authobiographical type of the story. So, instead of trying to criticize her for being sad, I actually admire the open and honest style of Edwidge Danticat. Using herself as a model, Danticat gives us an opportunity to analyze her private life.
As a child, Dandicat lived through the eight year long separetion from her parents. She was staying in Haiti with her uncles family, where members believed in the spare the rod, spoil the child. Principle of life and where the adults believe in spanking children. They would spank me and spanked me good she recalled from early memories of her childhood. Five years later her parents came to visit their children in Haiti, but at that visit Dandicat anf her father were not really close to one another.
According to the story Papi as I understood it they become close again only later when they were supposed to take a part in a radio drama that Dandicat wrote to be broadcasssst on a station in Port-an-Prince. In this drama role the father was a negative character and when it was over Dandicat rushed to her father and apologized.
While giving us a very defailed story of her life Dandicat includes in her story negative and paintful parts of her family life. I think that if memories of negative and paintful moments of would be excluded from the story, the story would be immediatly lose its interest and uniqueness. Each persons memory is absolytely unique an dincludes a certain amount of good as well as bad memories. Dandicats memory of her father are good and touching. However, she also has memories of those eight years, which she spent apart fom her parents. It makes no real difference, who are you, your life will always have its good parts and also its bad parts because the real life consists of these two parts taken together.
I am absolutely against people who write only about positive parts of their subjects. In my opinion, authors should never write only about the positive parts of their subjects. To prove my point I would refer the reader to turn to short story Papi and to read selectively, excluding all negative aspects. What you will get in result is nothing but plain and obvious nonsense.
Mind that the sample papers like "PAPI. Why can't you write happy things?" presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Why cant you write happy things? Edwidge Danticat was asked. This question sounds like a very ridiculous and naive question to ask. As for myself, it is enough to perform a very basic revision of her life in order to understand why she cant write happy things about her life. The way, in which I was able to understande this story Papi I found it to be mostly as authobiographical type of the story. So, instead of trying to criticize her for being sad, I actually admire the open and honest style of Edwidge Danticat. Using herself as a model, Danticat gives us an opportunity to analyze her private life.
As a child, Dandicat lived through the eight year long separetion from her parents. She was staying in Haiti with her uncles family, where members believed in the spare the rod, spoil the child. Principle of life and where the adults believe in spanking children. They would spank me and spanked me good she recalled from early memories of her childhood. Five years later her parents came to visit their children in Haiti, but at that visit Dandicat anf her father were not really close to one another.
According to the story Papi as I understood it they become close again only later when they were supposed to take a part in a radio drama that Dandicat wrote to be broadcasssst on a station in Port-an-Prince. In this drama role the father was a negative character and when it was over Dandicat rushed to her father and apologized.
While giving us a very defailed story of her life Dandicat includes in her story negative and paintful parts of her family life. I think that if memories of negative and paintful moments of would be excluded from the story, the story would be immediatly lose its interest and uniqueness. Each persons memory is absolytely unique an dincludes a certain amount of good as well as bad memories. Dandicats memory of her father are good and touching. However, she also has memories of those eight years, which she spent apart fom her parents. It makes no real difference, who are you, your life will always have its good parts and also its bad parts because the real life consists of these two parts taken together.
I am absolutely against people who write only about positive parts of their subjects. In my opinion, authors should never write only about the positive parts of their subjects. To prove my point I would refer the reader to turn to short story Papi and to read selectively, excluding all negative aspects. What you will get in result is nothing but plain and obvious nonsense.
Mind that the sample papers like "PAPI. Why can't you write happy things?" presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Right or Wrong?
We are ready to represent the best custom paper writing assistance that can cope with any task like Right or Wrong? even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like Right or Wrong? in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
Lately, marijuana laws have been a very common and heated topic on the news. There are many reasons to agree or to disagree with
its legalization. It has both, negative and positive sides. The argument
against legalization falls into two main categories health risks and the
social message legalization woul convey.
Early American colonists grew marijuana crops for the production
of paper, clothing and rope. It was so important, farmers were fined if they
didnt grow it. Marijuana can be used medicinally to treat lack of appetite,
pain and depression, treatment of glancoma, nausea. Non-harmful side
effects of marijuana use include being very hungry or thirsty, feelings of
euphonia or peacefulness, increase of sexual appetite. Used medicinally,
marijuana is great at treating cancer and AIDS patients. Its biodegradable
and easy to grow.
However, on the flip side you have the negatives. All forms of marijuana
alters how the brain works. Harmful side of marijuana use include changes in
memory, perception, and judgement, dry mouth, rapid heart beat, loss of
coordination, etc. Marijuana contains some of the same (and sometimes
in higher quantities) cancer causing agents as tobacco. Studies shows that
smoking three to five joints a day is equivalent to inhaling twenty cigarettes.
Statistics point about the gateway drug theory which suggests young people
who try pot will eventually experiment and get hooked on harder drugs.
Marijuana should not be used by the general public, it should be against the
law and is a danger to most people. We must way the benefits and
drawbacks to any drug. According to studies, marijuana isnt any better than
other drugs on the market to aleve pain and nausea. But if its all that works
for you exceptions must be made. For terminally ill patients or patients with
chronic severe pain, it can be argued that the positive effects outweigh the
negative side effects. But in a perfectly healthy person, this is not true. We
dont allow other addictive drugs on the street, such as morphine, so why
should marijuana be different. All Drugs should be regulated and if found
unsafe for common use they should be available only to those who truly need
it. Anyone selling or using an illegal drug should be punished according to the
law with a sentence that fits the crime.
Mind that the sample papers like Right or Wrong? presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Lately, marijuana laws have been a very common and heated topic on the news. There are many reasons to agree or to disagree with
its legalization. It has both, negative and positive sides. The argument
against legalization falls into two main categories health risks and the
social message legalization woul convey.
Early American colonists grew marijuana crops for the production
of paper, clothing and rope. It was so important, farmers were fined if they
didnt grow it. Marijuana can be used medicinally to treat lack of appetite,
pain and depression, treatment of glancoma, nausea. Non-harmful side
effects of marijuana use include being very hungry or thirsty, feelings of
euphonia or peacefulness, increase of sexual appetite. Used medicinally,
marijuana is great at treating cancer and AIDS patients. Its biodegradable
and easy to grow.
However, on the flip side you have the negatives. All forms of marijuana
alters how the brain works. Harmful side of marijuana use include changes in
memory, perception, and judgement, dry mouth, rapid heart beat, loss of
coordination, etc. Marijuana contains some of the same (and sometimes
in higher quantities) cancer causing agents as tobacco. Studies shows that
smoking three to five joints a day is equivalent to inhaling twenty cigarettes.
Statistics point about the gateway drug theory which suggests young people
who try pot will eventually experiment and get hooked on harder drugs.
Marijuana should not be used by the general public, it should be against the
law and is a danger to most people. We must way the benefits and
drawbacks to any drug. According to studies, marijuana isnt any better than
other drugs on the market to aleve pain and nausea. But if its all that works
for you exceptions must be made. For terminally ill patients or patients with
chronic severe pain, it can be argued that the positive effects outweigh the
negative side effects. But in a perfectly healthy person, this is not true. We
dont allow other addictive drugs on the street, such as morphine, so why
should marijuana be different. All Drugs should be regulated and if found
unsafe for common use they should be available only to those who truly need
it. Anyone selling or using an illegal drug should be punished according to the
law with a sentence that fits the crime.
Mind that the sample papers like Right or Wrong? presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Money grows with money
We are ready to represent the best custom paper writing assistance that can cope with any task like Money grows with money even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like Money grows with money in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
What is the point of working your whole life to EARN or WORK for money, when there is no need to? Why not go to school to learn about how money works and how to have money work for you instead of learning how to earn it and be an employee instead of an employer?
The answer Take a lesson in Entrapreuship. Read some books, anything that will expand your knowledge on the subject of money. There is no point of becoming more and more specialized in one field of education in order to earn more money when it just brings across bigger debt. Only buy things that you NEED until you start earning enough money that will never be in debt. Harder done than said you say? Well take these words of advice and think about them for a momentThe one thing that stops people trying to do this is fear, fear of losing money. When in actual fact you are losing more money by not researching or trying an actual worthwile method of becoming rich. Define the term rich. Everybody has there own opinion, yet i agree that becoming rich means that you can live comfortably without lifting a finger, sitting at home, while your money is working for you and giving you a healthy cash inflow. Just remember that knowledge is everything, so stock up and try to read at least one book a month or attend a seminar once every six months, anything you can do to expand your mind, and just remember dont listen to people philosphies about becomes rich if they themselves are not, because after all, if there philosophy was right wouldnt they themselves be rich? Only take in GOOD advice from people that have been there and truly know what tehy are talking about. Enjoy and dont be scared to venture into the unknown, ninety percent of the time it will bring riches.
-HAMMA
Mind that the sample papers like Money grows with money presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
What is the point of working your whole life to EARN or WORK for money, when there is no need to? Why not go to school to learn about how money works and how to have money work for you instead of learning how to earn it and be an employee instead of an employer?
The answer Take a lesson in Entrapreuship. Read some books, anything that will expand your knowledge on the subject of money. There is no point of becoming more and more specialized in one field of education in order to earn more money when it just brings across bigger debt. Only buy things that you NEED until you start earning enough money that will never be in debt. Harder done than said you say? Well take these words of advice and think about them for a momentThe one thing that stops people trying to do this is fear, fear of losing money. When in actual fact you are losing more money by not researching or trying an actual worthwile method of becoming rich. Define the term rich. Everybody has there own opinion, yet i agree that becoming rich means that you can live comfortably without lifting a finger, sitting at home, while your money is working for you and giving you a healthy cash inflow. Just remember that knowledge is everything, so stock up and try to read at least one book a month or attend a seminar once every six months, anything you can do to expand your mind, and just remember dont listen to people philosphies about becomes rich if they themselves are not, because after all, if there philosophy was right wouldnt they themselves be rich? Only take in GOOD advice from people that have been there and truly know what tehy are talking about. Enjoy and dont be scared to venture into the unknown, ninety percent of the time it will bring riches.
-HAMMA
Mind that the sample papers like Money grows with money presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Tuesday, July 3, 2012
Australian landscape architecture
We are ready to represent the best custom paper writing assistance that can cope with any task like Australian landscape architecture even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like Australian landscape architecture in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
we have defined a framework for review based on a number of criteria. these criteria have been used in a a series of critiques of notable austrlian landscape designs which follo. the detsign detail should support the design concept and heighten the users awareness and enjoyment of hte site. desing detail should work functionally, structurally and drain efecitvely.we have defined a framework for review based on a number of criteria. these criteria have been used in a a series of critiques of notable austrlian landscape designs which follo. the detsign detail should support the design concept and heighten the users awareness and enjoyment of hte site. desing detail should work functionally, structurally and drain efecitvely.
we have defined a framework for review based on a number of criteria. these criteria have been used in a a series of critiques of notable austrlian landscape designs which follo. the detsign detail should support the design concept and heighten the users awareness and enjoyment of hte site. desing detail should work functionally, structurally and drain efecitvely.
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as the sculpture garden of the national gallery of asutralia celebrates its 0th anniversary, its future is a matter of great interest for all those who love this iconic landscape.
for griffin, this was far too undignified a name for what he alternatively beleived to be decorator trees.
Mind that the sample papers like Australian landscape architecture presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
we have defined a framework for review based on a number of criteria. these criteria have been used in a a series of critiques of notable austrlian landscape designs which follo. the detsign detail should support the design concept and heighten the users awareness and enjoyment of hte site. desing detail should work functionally, structurally and drain efecitvely.we have defined a framework for review based on a number of criteria. these criteria have been used in a a series of critiques of notable austrlian landscape designs which follo. the detsign detail should support the design concept and heighten the users awareness and enjoyment of hte site. desing detail should work functionally, structurally and drain efecitvely.
we have defined a framework for review based on a number of criteria. these criteria have been used in a a series of critiques of notable austrlian landscape designs which follo. the detsign detail should support the design concept and heighten the users awareness and enjoyment of hte site. desing detail should work functionally, structurally and drain efecitvely.
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verify your email address! You must use the correct email address in order to activate your account.
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Well, what are you waiting for?
as the sculpture garden of the national gallery of asutralia celebrates its 0th anniversary, its future is a matter of great interest for all those who love this iconic landscape.
for griffin, this was far too undignified a name for what he alternatively beleived to be decorator trees.
Mind that the sample papers like Australian landscape architecture presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Tuesday, May 15, 2012
The Path to Knighthood
We are ready to represent the best custom paper writing assistance that can cope with any task like The Path to Knighthood even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like The Path to Knighthood in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
The Path to Knighthood
In the Middle Ages, being a knight was the most honorable position a man could hold. They were heavily regarded as the most honest, courageous, and brave individuals that one could be. But, one could not just decide to be a knight, and easily become one. There was a very long process involved in becoming a knight, one that took up about fifteen years of a future-knight’s life. If one was born of the right blood, often the son of a current knight, they would become a page at a very young age, before becoming a squire, and finally a knight.
At the young age of only seven years old, one began the training that would lead to knighthood. The training usually took place at a nearby castle, often the castle of his father’s lord. As training for knighthood was a full-time process, the young boy would leave his home to go live here. A boy in this stage of the training was known as a page. Generally this lasted about seven or eight years before graduating to the next level. Being a page, especially towards the beginning, was the less intensive part of the training process, often focusing on manners and etiquette. But, the young pages also engaged in battle training. They would be given rounded off wooden swords with which to practice sword skills, obviously a very important quality of a knight. Another training activity they engaged in was lance practice. One way to train for this was to have a setup with a target on one end of a pendulum, and a dummy on the other end. When the lance struck the target, the page would have to immediately duck to not be hit by the dummy. They were also introduced to hunting and bow and arrow skills. Learning to ride a horse was a very important part of being a page. A knight’s horse was often his most prized possession, during times of battle and during everyday life. Since being able to ride a horse was so important to a knight, they began teaching it early on. The young pages did engage in different types of combat training, but much of his teachings during this time were for social reasons, teaching the pages nobility and proper manners. Pages were sort of like little servants for the Lord and the Lady of the castle at which he was trained. It was his duty to accompany the Lord and Lady. While accompanying the Lord and Lady, he was obligated to fulfill any of their demands. They often had to clean for them, wait on them, and do whatever else they asked. Knights were taught to have a high amount of respect for women, and to always help one in need. This was taught early on by the women of the castle.
After holding the title of a page until the boy is fourteen years old, he then becomes a squire. This was the second and final step before knighthood. This stage lasted for about another seven years, until the boy reached the age of twenty-one. They continued teaching him much of the same things, but the training was more intense than that of being a page, as the boy was much bigger, stronger, and physically capable than he was as a knight. Although pages did do things that helped trained them for battle, such as lancing, sword fighting, and horse riding, they learned much more about battle during the time they were a squire. They now practiced these techniques with real weapons, often against real knights, instead of using things like rounded-off wooden swords and target setups. While a page had to accompany the Lord and Lady of the castle, and fulfill any of their given demands, a squire did the same thing for a knight. Each squire was assigned to a knight. The knight to which he was assigned would personally lead and teach the squire to become a knight. This is the stage during which the boy would learn to wear and take care of his heavy armor. He was required to do things such as clean his knight’s armor from rust. This was done by putting the armor in a barrel of sand, and scrubbing to rub away the rust. This was also when the boy was awarded with his own sword and shield, a necessity in being a knight. The more intense part of being a squire was also involved in being the knight’s personal aid. The reason this could be intense, and often dangerous training is because the squire had to follow the knight to battle, if he was to go. During battle, the squire would continue to be the personal assistant of the knight. If anything happened to his armor or his weapons, the squire’s job would be to promptly bring a replacement piece for the knight. If something happened to the knight’s horse during battle, as well, the squire would give up his for the knight to ride. It was also their duty to take the knight away from the battle field should be injured or even killed. During times of battle, a squire even went as far as actually helping the knight fight, should he be outnumbered, or desperately need the help for any reason. After being a squire for an entire seven years of his life, he was then knighted.
The ceremony involved in becoming a knight was one that young men heavily looked forward to. The ceremony was very elaborate, and the entire thing took up an entire night, and was completed the next morning. To was away his sins, and be clean for the new life of knighthood, the squire would first take a bath in holy water. After doing this, he would stand before the altar and pray, often taking the entire night. The squire would also confess his sins to a priest. The next morning, the knighting ceremony was held. Before an audience of other knights and ladies of the castle, the knight was presented a new lance, sword, shield, and full suit of armor. The lord would then give him the accolade. This was a blow given either to the neck or the shoulder by the lord’s fist, or the flat part of a sword. The lord would say, “In the name of God and St. Michael and St. George, I dub thee knight; be brave and loyal.” The squire was then a full fledged knight, able to uphold all the knightly privileges.
Although it was a very long process to become a knight, taking up almost 15 years of one’s life, it was regarded as well worth it. There was a high amount of respect for anyone who was a knight, and this was not something that could or should have been accomplished in a short period of time. Instead, it is accomplished by making the training be a lifestyle, as is knighthood, rather than a side job.
Mind that the sample papers like The Path to Knighthood presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
The Path to Knighthood
In the Middle Ages, being a knight was the most honorable position a man could hold. They were heavily regarded as the most honest, courageous, and brave individuals that one could be. But, one could not just decide to be a knight, and easily become one. There was a very long process involved in becoming a knight, one that took up about fifteen years of a future-knight’s life. If one was born of the right blood, often the son of a current knight, they would become a page at a very young age, before becoming a squire, and finally a knight.
At the young age of only seven years old, one began the training that would lead to knighthood. The training usually took place at a nearby castle, often the castle of his father’s lord. As training for knighthood was a full-time process, the young boy would leave his home to go live here. A boy in this stage of the training was known as a page. Generally this lasted about seven or eight years before graduating to the next level. Being a page, especially towards the beginning, was the less intensive part of the training process, often focusing on manners and etiquette. But, the young pages also engaged in battle training. They would be given rounded off wooden swords with which to practice sword skills, obviously a very important quality of a knight. Another training activity they engaged in was lance practice. One way to train for this was to have a setup with a target on one end of a pendulum, and a dummy on the other end. When the lance struck the target, the page would have to immediately duck to not be hit by the dummy. They were also introduced to hunting and bow and arrow skills. Learning to ride a horse was a very important part of being a page. A knight’s horse was often his most prized possession, during times of battle and during everyday life. Since being able to ride a horse was so important to a knight, they began teaching it early on. The young pages did engage in different types of combat training, but much of his teachings during this time were for social reasons, teaching the pages nobility and proper manners. Pages were sort of like little servants for the Lord and the Lady of the castle at which he was trained. It was his duty to accompany the Lord and Lady. While accompanying the Lord and Lady, he was obligated to fulfill any of their demands. They often had to clean for them, wait on them, and do whatever else they asked. Knights were taught to have a high amount of respect for women, and to always help one in need. This was taught early on by the women of the castle.
After holding the title of a page until the boy is fourteen years old, he then becomes a squire. This was the second and final step before knighthood. This stage lasted for about another seven years, until the boy reached the age of twenty-one. They continued teaching him much of the same things, but the training was more intense than that of being a page, as the boy was much bigger, stronger, and physically capable than he was as a knight. Although pages did do things that helped trained them for battle, such as lancing, sword fighting, and horse riding, they learned much more about battle during the time they were a squire. They now practiced these techniques with real weapons, often against real knights, instead of using things like rounded-off wooden swords and target setups. While a page had to accompany the Lord and Lady of the castle, and fulfill any of their given demands, a squire did the same thing for a knight. Each squire was assigned to a knight. The knight to which he was assigned would personally lead and teach the squire to become a knight. This is the stage during which the boy would learn to wear and take care of his heavy armor. He was required to do things such as clean his knight’s armor from rust. This was done by putting the armor in a barrel of sand, and scrubbing to rub away the rust. This was also when the boy was awarded with his own sword and shield, a necessity in being a knight. The more intense part of being a squire was also involved in being the knight’s personal aid. The reason this could be intense, and often dangerous training is because the squire had to follow the knight to battle, if he was to go. During battle, the squire would continue to be the personal assistant of the knight. If anything happened to his armor or his weapons, the squire’s job would be to promptly bring a replacement piece for the knight. If something happened to the knight’s horse during battle, as well, the squire would give up his for the knight to ride. It was also their duty to take the knight away from the battle field should be injured or even killed. During times of battle, a squire even went as far as actually helping the knight fight, should he be outnumbered, or desperately need the help for any reason. After being a squire for an entire seven years of his life, he was then knighted.
The ceremony involved in becoming a knight was one that young men heavily looked forward to. The ceremony was very elaborate, and the entire thing took up an entire night, and was completed the next morning. To was away his sins, and be clean for the new life of knighthood, the squire would first take a bath in holy water. After doing this, he would stand before the altar and pray, often taking the entire night. The squire would also confess his sins to a priest. The next morning, the knighting ceremony was held. Before an audience of other knights and ladies of the castle, the knight was presented a new lance, sword, shield, and full suit of armor. The lord would then give him the accolade. This was a blow given either to the neck or the shoulder by the lord’s fist, or the flat part of a sword. The lord would say, “In the name of God and St. Michael and St. George, I dub thee knight; be brave and loyal.” The squire was then a full fledged knight, able to uphold all the knightly privileges.
Although it was a very long process to become a knight, taking up almost 15 years of one’s life, it was regarded as well worth it. There was a high amount of respect for anyone who was a knight, and this was not something that could or should have been accomplished in a short period of time. Instead, it is accomplished by making the training be a lifestyle, as is knighthood, rather than a side job.
Mind that the sample papers like The Path to Knighthood presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Monday, May 14, 2012
Comparison of Panama IPO Market to Us Market
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INTRODUCTION
This paper has the purpose of presenting the reader with a brief overview of an Initial Public Offering (IPO) performed in the republic of Panama.
The Initial Public Offering process is complex and has significant consequences for a publicly held company.
We will focus in describing the processes of registration and issuance of IPO’s and all the parties involved in the process.
Unfortunately, the securities market in Panama is in a developing phase, evolving towards a more dinamic state that reflects the economic reality, globally as well as domestically.
1. WHAT IS A INITIAL PUBLIC OFFERING OF SECURITIES
The Initial Public Offering is a process whereby an issuer registers its securities at the National Securities of Commission (CNV) and offers them to the public.
An offer or sale made to persons domiciled in the Republic of Panama will be considered to have been made in the Republic of Panama, regardless of whether it was made from the Republic of Panama or from abroad, unless the CNV determines the opposite.
An offer or sale made to persons domiciled outside the Republic of Panama will not be considered to have been an offer in the Republic of Panama even if it was made from the Republic of Panama.
An investment banker recommends and advises a company during the public offering, helps to integrate a working team, must undertake the carrying out of the due diligence, assists in the technical preparation of the registration petition and the prospectus, (generally) signs a subscription contract with the company and maintains a relation with the issuer after the public offering.
. CURRENT LEGISLATION
The Executive Branch enacted Law-Decree No.1 of 8 July 1, which creates the NATIONAL SECURITIES COMMISSION (CNV) and regulates securities trading in the Republic of Panama; it’s been modified by Laws 4 of 000, of 001 and 11 of 00.
The NATIONAL COMMISSION OF SECURITIES was created as an autonomous entity of the State with legal capacity and its own possessions.
In order to guarantee its autonomy, the CNV
· Shall have its own funds separated and independent from those of the Central Government and shall have the right to manage them.
· Shall approve its income and expenses budget, which shall later be included within the general budget of the State. As long as the CNV budget includes funds provided by the State, its budget will be prepared by the Ministry of Economy and Finance as part of the State’s budget.
· Shall select, appoint and dismiss its personnel and set their remuneration, in conformity with the provisions of its internal set of regulations.
. CONVENIENCES OF MAKING A PUBLIC OFFERING
Advantages Obtaining of cash, liquidity for employees and investors alike, access to markets for future financing, tax advantages.
Disadvantages Reduction of the flexibility in corporate affairs, compliance with reporting requirements of the CNV, restrictions in advertising matters, exposure to class action suits, initial and administrative expenses.
4. STEPS FOR THE INITIAL ISSUANCE OF THE INITIAL PUBLIC OFFERING
4.1. The integration of a working team
The team is integrated by
· The team’s administration
· The Board of Directors
· The subscribers (investment bankers)
· The legal advisors of the issuing enterprise
· The legal advisors of the subscribers
· The external auditors of the issuing enterprise
· Others a fiduciary, a registration, payment and transference agent.
4. Due diligence
It’s the process of ensuring that the information contained the registry application is correct, that the document does not omit any information required or necessary to prevent that statements, considered as a whole, are misleading.
It’s a fact-searching process.
In order for a diligence to be satisfactory, it should
· Interview the directors of the entity, exploring all aspects of the company.
· Contact the main clients of the issuer to verify the representations of the administration.
· Inspect the products made by the enterprise or the services it provides.
· Revise the financial statements with the auditors of the company.
· In conformity with jurisprudence, the due diligence varies in terms of the degree of participation of the work team.
4. Registration Petition (prospectus)
An issuer whose securities shall be registered at the CNV shall present to it, through the intervention of a lawyer, a registration petition of such securities, in conformity with the provisions of Title V of the Law-Decree.
This is a document of much importance and the omissions and/or false statements contained in it will generate administrative consequences (fines) and may serve as basis for civil suits.
4..1. Rejection of public offering registration application
The CNV will reject the petition whenever
· The issuer is a registered issuer and is overdue in the presentation of the interim and annual reports due to be filed in conformity with the Law-Decree.
· When either the prospectus, the information or the documentation are incomplete or do not fulfill the requirements established and/or contain any false statements in relation with an important fact or if it omits an important fact.
4... CNV Requirements
Securities registration petitions object of a public offering that requires authorization of the CNV, in conformity with the provisions of Title VI of Law-Decree No. 1 of 8 July 1, must be filed through the intervention of a lawyer, accompanied by the following documents and in compliance with the following requirements
1. Power of attorney;
. Photocopy of the personal identity document (“c�dula”) or passport of the legal representative, directors and officials of the petitioner;
. Certificate of existence and representation of the entity, which shall include the name, date and incorporation data and inscription, duration, term, subscribers, Directors, Officials, Legal Representative, authorized capital, inscribed powers and resident agent of the petitioner, issued by the Public Registry within the thirty days prior to the date of the presentation of the petition. In the case of foreign entities, a certificate of the Public Registry of the foreign country, or the entity that exercises functions similar to those of the Public Registry, issued within the previous sixty days of the presentation of the petition, stating all the information that is required to petitioners incorporated under Panamanian laws, must be included.
4. Copy of the Public Deed that contains the Articles of Incorporation of the petitioner, its amendments and certification of the inscription of such documents.
5. A copy of the Preliminary Informative Prospectus.
6. Resolution of the Board of Directors or the competent governing body of the entity that authorizes the securities public offering, the number of them, their price, including all possible deductions, names of the persons who have power to authenticate, and the details of the offer.
7. Models of the securities that are intended to be sold, if applicable.
8. Audited financial statements, for the last fiscal year, issued by an independent Certified Public Accountant, interim financial statements at the last interim date prior to the date of the petition, duly certified by a Certified Public Accountant.
. A sworn declaration submitted by the Legal Representative of the petitioner, about the compliance with the provisions in relation to the independence of the Certified Public Accountant � as provided in the Accord related to the Form and Contents of the Financial Statements � and the Legal Advisor, as provided by Article 16 of this Accord.
10. Projects of contracts that are part of the registration petition, whose final versions are to be presented, in copies authenticated by a notary, before the notification of the respective Resolution.
11. Opinion of a legal advisor about the securities registration petition, as prescribed by Articles 15 and 16 of the Accord.
1. Payment slips of the corresponding registration fee.
1. Documentation deemed necessary by the CNV for the information and protection of investors.
14. Whenever a statement, report or opinion of an expert person is enclosed, the person’s name, address, credentials and a statement indicating that the opinion is enclosed with the consent of that person, must be included.
15. The petitioner must file with the petition the written opinion of an independent lawyer of law firm about the securities registration petition object of public offer, as for
15.1 The proper incorporation and force of the persons that assume obligations as result of the registration of the securities for public offer, as well as their corporate capacity to celebrate contracts and to fulfill the obligations contracted therein.
15. The validity of the contracts that are integral part of the registration petition and that the rights and obligations included therein are legal, valid and demandable obligations.
15. The validity of contracts when contrasted to the clauses of the Articles of Incorporation, Statutes and Shareholders’ Agreements of the petitioner, or the existing Laws, Decrees and sets of regulations of the Republic of Panama.
15.4 Obligations assumed by the petitioner and the parties of the contracts that are integral part of the registration petition, such as unconditional obligations assumed by such persons, that enjoy the same preference than the other non-guaranteed obligations by the petitioner.
15.5 The lawyer or law firm that issues the opinion referred to in the preceding Article, with respect to the securities registration petition, must be independent from the petitioner. For that effect, a lawyer or law firm, or the Partners of the latter, shall not be considered independent if they are comprised in any of the following
1. Intern legal advisor of the petitioner;
. Director of Official of the petitioner;
. Effective owner of 5% or more of the outstanding stock of the petitioner; and
4. Administrative employee of the petitioner.
The requirements of independence of the legal advisors is limited to the issuance of the opinion required in the previous Article, therefore the petitioner may receive at any moment advisory from a lawyer of law firm that do not fulfill the above requirements, including the presentation of the securities registration petition to the National Securities Commission.
4... Prospectus contents and form
Prospectuses shall include the financial statements and the information about the issuer, its operations, business and securities that the CNV prescribes.
Prospectuses may contain any other additional information that the issuer wishes to include, as long as it is relevant and its inclusion is not forbidden.
The prospectus should be printed in clear and legible copies.
The instructions included in Annex 1, pages 6 to 1, must be followed.
4..4. Use of the prospectus in securities public offering
No issuer or affiliated company of it or offerer may offer securities that shall be registered, if such offer is not made by means of a prospectus authorized by the CNV or a preliminary prospectus presented to the Commission.
The CNV shall prescribe, by accord, the norms applicable to the use and distribution that should be given to the prospectus in relation with public offerings, in conformity with the provisions of the Law-Decree.
4..5. Use of the prospectus in public offerings
The CNV is empowered to establish the norms that will be applicable to the use and distribution of the prospectus.
Likewise, it has power to make exceptions as for the use of the prospectus when such use is not necessary for the protection of the investing public.
Every offer shall be made by means of a prospectus authorized by the CNV and no issuer of affiliated shall offer securities without being previously registered and authorized by the CNV.
4.4 Registration Periods
· Period previous to the registration at the CNV
The CNV provides that the issuer of securities, persons affiliated to such issuer and/or it offerers, may neither offer to purchase, nor purchase, nor offer to sale, nor sale the securities while the resolution has not become effective.
· Period or registration at the CNV
When the petition is presented to the CNV for its approval, the following activities will be permitted, even thought they do not constitute a firm obligation to purchase or sell such securities
Ø The issuer, persons affiliated to it and its subscribers may offer the securities to sales agents.
Ø Likewise, the persons mentioned above may request purchase orders from other persons.
When performing the above mentioned transactions, the trading must be accompanied by a preliminary prospectus, which must comply with all the requirements set forth by the CNV (it must feature in its cover a clear statement indicating that the securities described therein are in the process of being registered and that the information is subject to change).
During that period, information or advertising material may not be distributed, except for those authorized by the CNV.
· Period posterior to registration at the Commission
Whenever the resolution approving the registration of securities in the CNV becomes effective, offers may be made of such securities in any form, as long as they accompanied by a definitive prospectus.
As requirement, every prospectus must be updated by means of a new prospectus or a supplement in the following cases
a. Immediately if during the offering period a fact such as the following takes place
a.1. A statement in the prospectus turns out to be false.
a.. A fact should be divulged in order to make that a statement about an important fact, included in the prospectus, is not deemed misleading or tendentious considering in the circumstances under which it was made.
b. Within the thirty days following the date the issuer files its annual report to the CNV.
The CNV has the power to suspend the use of a prospectus until it is modified in case it finds that it has false information, omits important information which must be divulged, etc.
4.5 Contractual arrangements with the subscriber
Ø The issuer generally holds a subscription contract with the investment banker.
Ø Depending of the type of subscription, the subscriber may incur in the obligation of acquiring the securities offered by the issuer.
Ø The subscription must be made firmly or based in the best efforts.
5. ROLE OF INVESTMENT BANKING IN IPO’S IN PANAMA
· Recommending and advising the enterprise in the public offering
· Helping to integrate the working team
· Procuring the realization of the due diligence
· Assisting in the technical preparation of the registration petition and the prospectus
· Holding the subscription contract with the enterprise
· Maintaining a relation with the issuer after the public offer
6. IPO’s Made in Panama
Among the IPO’s made in Panama we have the following
· IDS Holding Corporation (Sears)
· Tropical Rainforest Resort (Gamboa Hotel)
· Corporación Microfinanciera Nacional
· Equus Entertainment de Panamá (Presidente Remón Racetrack)
· Inversiones Latinoamericanas (Inverlat)
7. Reasons for a company to choose to go public
Some of the reasons for a company to go public are the following
a. Obtaining funds from the public offering of securities. With the funds obtained in this manner a company can increase its working capital, invest in research and development, expand premises and equipment, acquire other companies, etc.
b. Obtaining funds in more favorable terms. Once a market is created, and if the security (share) performs well, the company will be able to offer investors a security with liquidity and with a determinable market value.
c. The company can contemplate the acquisition of other enterprise with its public shares, instead of using cash or acquiring debts with third parties.
d. The enterprise may attract and retain better personnel by means of option plans for the purchase of its own shares by its employees. This is a great incentive to its labor force, thus generating more loyalty to the enterprises. In principle, there will be less labor problems since employees would largely feel part of the enterprise and wish the best for it, since this would also be the best for them.
e. The enterprise gains prestige and more recognition. Clients and suppliers may become shareholders and acquire the goods and services that their company produces.
f. Liquidity is obtained for the owners. Property in a close, non public business is an asset that lacks an immediate market. Once the company goes public, a market is or must be ready at any moment.
g. The company can eliminate existing guarantees, such as personal and/or real guarantees, so avoiding the need of personal sureties by the shareholders.
h. A sensation of financial success, at least of a psychological nature, is reached.
i. Undoubtedly, in our environment the tax advantages constitute a decisive factor. The existence of a special tax treatment for investments in registered securities is justified in the fact that, in this manner, individual resources can reach the productive enterprises that need them. This brings benefits for the country, which strengthens itself with enterprises that generate goods, services and jobs.
Among the disadvantages and/or consequences of making an initial public offering we have the following
ü Reduction of the flexibility in corporate affairs.
ü Starting administrative expenses increase.
ü Compliance with the requirements of reporting to the CNV and those of the stock exchanges where the securities are listed.
ü Restrictions in matters of advertising.
ü Exposure to class action suits.
ü Transparency.
ü The issuer must maintain good relations with the holders of its securities.
ü Sales of securities by persons who control them.
8. The securities market of Panama
The intermediation of securities in Panama dates to many years ago. It could be said that it is as old as the Republic itself, which this year celebrates the centennial of its independence. In its beginnings, this activity was carried out in an informal manner; it lacked mechanisms of organization and it did offer neither the information nor the sufficient transparency to protect the investing public. It was not until July 170 when the National Government enacted Decree No. 47, which was later substituted by Law-Decree No. 1 of 8 July 1, whereby the National Securities Commission was created and the Securities market in the Republic of Panama is regulated.
At the beginning of the 170s, a group of investors made serious and meritorious efforts to establish a stocks exchange, to the point of meeting periodically and publishing reports about the operations performed among them. However, the growth and development of both international banking and the National Banking Center caused, as a result, that both the National Government and the private sector found all the necessary financing in the Banking Market, rendering useless, at the time, the existence of a stocks exchange.
By the early 180s, the high levels of external indebtedness and a poor economic development caused a reduction of financing offers by the international financial system towards the Governments of Latin America. Likewise, the past economic and political crisis Panama underwent during the years 187, 188 and 18 caused that an informal securities market acquired significant importance as means of financial intermediation.
Despite being an informal market, it had great acceptance within the Panamanian community, which made people estimate that it was the appropriate moment for the creation of a stocks exchange in Panama, that complied with the objective of serving as intermediate between the State and the private sector, on one side, and the investors, on the other, for the trading of securities. This way, a formal securities market is created in Panama, divided in a primary market and a secondary market.
Over the years, Panama’s Stock Exchange, along with the trading posts, stock traders and other collaborators of the national securities market have increased their efforts to divulge information on the newspapers about the negotiable securities in our country. However, these efforts are focused on a specific and limited sector; thus preventing a sector of equal or higher purchase power from participating in Panama’s Securities Market.
In addition to this limitation, the lack of knowledge about the matter in a general level, by bank depositors �who are more focused in the banking center as source of income over their savings-, reveal the lack of investing opportunities, thus limiting the development of the Securities Market in Panama and, therefore, the development of the economy in the country.
Panama is currently a country where a large part of the population lives in a situation of poverty; other part of the population generates income only large enough for survival. Because of this, talking about the existence of savings plans that could be turned into investments turns out to be somewhat cynical and cruel, since the savings habits of the average Panamanian is almost nonexistent. As a result, the universe of local investors is quite reduced.
To make things worse, those investors that could invest find themselves skeptical and distrustful, due to recent financial scandals that have weakened the fundamental element for our system to work efficiently trust.
However, despite the fact that we are advancing and we feel we are on the right track, since we have a better legislation than the one we had years back, there’s no doubt that we still have so much to do. Facts, rather than words, are required. Reaching a fine level demands time and is a labor that involves many members of society. It is not a labor to be done isolated from the regulatory entity of the securities market. The private sector, as well as the Government and all of the community must participate.
We must point out that the world economy has received severe blows in recent years, with the Securities Market being one of the most affected, a situation that generates mistrust among investors. The bankruptcies of listed companies in the Exchange, the social and political instability in our country are some of the determining factors in the short- and medium-term development of the securities-trading activity.
External auditors and independent public accountants also play an important role for the system to work efficiently. They must be important allies of the investing public and the CNV. Accountant perform a very important role, since they are, by law, to attest about the veracity of information related to transactions carried out by public companies, as well as the disclosure of their financial situation, with the purpose of facilitating decision-making by the shareholders. In light of new regulations that protect investors, such as the Sarbanes-Oxley Act of 00 of the US, the CNV has taken actions on this subject and issued Accord 7-00, whereby modifications are introduced to certain aspects that regulate registered companies and their auditors and accountants.
Considering the current situation of the country’s economy and the low levels of investments by depositors, it is necessary to awaken interest in the alternative investments represented by the Securities Market. Also, the current crisis of International Banking Centers has surpassed its conditions to the National Banking Center, making attractive other investments alternatives that generate higher profitability for investors. The CNV is performing a titanic task that in many aspects implies a struggle against negative patterns of behavior too embedded in our society. However, with the effort of all, it is a labor that will produce large tangible benefits for the development of the country and its population. This way, we will be contributing to the successful development of this activity that generates new sources of financing for our businesspeople, which in turn produce higher levels of profitability for depositors that choose to invest in Panama’s Securities Market.
. The Panama Stock Exchange
There’s only one stock exchange in Panama, Bolsa de Valores de Panamá, S. A. (Panama Stock Exchange, BVP in Spanish). The BVP is a corporation incorporated under the laws of the Republic of Panama; its shareholding group is integrated by the main banks of the location, including the National Bank of Panama, as well as commercial, insurance and industrial enterprises, businesspersons, professionals and securities agents.
The authorized capital of the BVP is US$1,800,000 divided in 180,000 shares. This level of capitalization is caused in first instance, by the interest of giving participation in the exchange to an ample and diversified number of shareholders and the purpose of setting up an administrative apparatus that could offer an efficient service and a data-processing system with capacity to store and having available and easy-to-access by the public, information about enterprises and entities whose securities are traded in the exchange.
Exchange members must be entities with legal capacity, whose shares must have been issued in nominal manner in favor of natural persons, except in cases of banks or public-holding enterprises. Besides, members of the BVP must follow these requirements
· To devote solely to securities negotiation in an exchange.
· To have a securities agent properly authorized by the BVP of Panama as legal representative or general holder of power of attorney.
· To feature a paid capital no lesser than US$50,000 and being owner of ,500 shares of stock of BVP.
· To possess the necessary professional capacity for this kind of activities.
· To be the beneficiary of a fidelity and compliance policy that the BVP requests.
At all times, members of the BVP are subject to audits and investigations that the BVP decides to carry on, and their rights may not be alienated to third parties without previous authorization by the BVP. This way, the BVP will allow a large participation of all interested parties that comply with the necessary conditions for that.
The BVP is a market where a series of products are traded and where buyers and sellers get in touch; it is a meeting place between two main characters in an economy companies and saving depositors.
The BVP fulfills an essential function in the growth of an economy, since it flows savings towards productive investment. It is a financing instrument for enterprises and of an investments one for saving depositors.
In our country, the goal and objective of the BVP is to gather securities trading companies registered in it in order to perform trading of several classes of securities. Its function is to manage and regulate this process and to receive a commission that will vary depending on the type of instrument traded in its value.
The BVP must watch over the promotion and exchange of securities, both public and private, and that transactions are performed in accordance not only to the Law, but also to strict standards of commercial and professional ethics. It must also provide and maintain, available for the public, financial and commercial information about the enterprises registered in it.
We consider pointing out that the fact that an enterprise is registered in the BVP, does not guarantee that investing in it is secure. The BVP’s responsibility is limited to watch for the existence of a liquid and transparent market for securities quoting. Investors, aware of the inherent risks, are responsible for their decision of buying or selling a share of stock.
10. Comparison between the IPO markets of Panama and the US
In this section we’ll take a gross overview of the similarities and differences of IPO markets in Panama and the United States. These similarities and differences will help us to understand both markets and give us a better perspective of what to expect from these markets in terms of opportunities.
10.1 Similarities
The main reason as to why companies in both markets, Panama and the US, decide to go public is the need to obtain capital. This need to obtain capital in both markets originates from the same reasons, that is, to increase its assets quickly and to expand and to pay debts.
A similarity between both markets is that they are regulated by an entity in charge of regulating, analyzing and watching over the sales of securities to the investing public. In Panama, that entity is the National Securities Commission, while the Securities and Exchange Commission holds those tasks in the United States. Both commissions have the power to create secure environments for investors.
Another similarity between both IPO’s markets is that carrying out that initial shares sales operation is costly, complex and requires too much human effort and capital. In both markets these costs may represent between 15 and 5% of the capital collected by the initial public offering of these securities.
Both IPO regulatory entities demand a heap of information that must be filed to them. They also demand that part of this information must be presented to investors and to the possible investors in a document called prospectus at both markets. The prospect must describe relevant facts about the operations of the company, its financial condition and its administration. In the Anglo-Saxon market, all companies wishing to offer their securities to the public must file form S-1. The prospectus must contain the following information as a minimum for both markets as well
1. The business name
. Properties
. Competitors
4. Identities of their officers and directors, and their compensations
5. Material transactions between the company and its officers and directors
6. Material legal proceedings involving the company or its officers and directors
7. The plan for distributing the securities; and the intended use of the proceeds of the offering.
Registration statements must include also the financial statements, audited by an independent certified public accountant.
Besides the information required expressly by the form, the company must provide any other information deemed necessary to make a complete disclosure and avoid presenting misleading statements. The prospectus must also mention any other prominent risk, for example
1. Lack of business during the company’s history
. Adverse conditions in that particular industry
. Lack of markets for the securities offered
4. Dependence of key personnel within the enterprise
As we can see, all these similarities in the IPO registration process exist because Panamanian legislation is based on American legislation as for regulations for the issuance or securities.
In the American market, after the IPO the company is obliged to comply with the requirements of reporting to the SEC the following information
1. Its operations.
. Its officials, directors and some of its shareholders, including salaries, benefits and transactions between a company and its administration.
. The financial condition of the company, including the financial statements audited by an independent certified public accountant.
4. Its competitive position and material terms of contracts or lease agreements.
This information must also be provided to the CNV by issuers of an IPO in Panama.
Another similarity between both environments is that issuances take approximately the same time to prepare and launch to the market. IPO’s in Panama and the US typically take about to 6 months. Half of the time is spent preparing the requirements for the SEC, while the rest, 4 to 6 months, is used for road shows to market the offering.
A similarity worth mentioning is the role of the investing banker in the cases of initial public offerings. The role of the investment banker is the same in IPO’s markets in both the USA and Panama.
10. Differences
A clear difference between the IPO’s markets in the USA and Panama is that while in the USA any issuance of IPO’s are regulated by federal and state laws, in Panama they are regulated by the country’s national laws, since there are not bounds imposed by the provinces separately.
Another important difference in the IPO’s markets is that in Panama there is only one stock exchange, known as the Bolsa de Valores de Panamá, S. A., whereas there are several stock exchanges in the USA, such as NYSE, AMEX and NASDAQ, where the IPO’s can be traded.
The markets of the IPO’s differ much as for the size of each of them to make the initial offering, since the Panamanian market has a population of merely million people, out of which only 6 to 7% has a savings and investing capacity, whereas in the USA there is a population of million people with a high degree of investing power.
Another difference between both markets is that transactions in the USA can be made on the Internet, while in Panama the technological platform to provide such service does not exist yet.
Another difference about the initial offering in both markets is that there are no restrictions as for the initial price of the securities offering in the Panamanian market, as long as it has fulfilled the requirements of the CNV, whereas certain restrictions in the US market do exist about the initial price.
CONCLUSION
After our research, we can state that not all companies are eligible to go public, since this is a complex and costly decision, which requires legal and financial professional advice, in which accountants and lawyers play a preponderant role.
By making a comparison between the IPO’s in Panama and the United States, we can see that there are more similarities than differences between these two markets.
The larger amount of similarities is caused by the fact that the regulations in Panama are based on the American ones. The few differences we can find exist due to the discrepancies in size and development of each of these markets.
As conclusion, we can say that IPO’s in Panama resemble the worldwide trend of countries in development level, promoting its securities markets with the hope that those efforts can be seen reflected in terms of a more accelerated economic growth.
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INTRODUCTION
This paper has the purpose of presenting the reader with a brief overview of an Initial Public Offering (IPO) performed in the republic of Panama.
The Initial Public Offering process is complex and has significant consequences for a publicly held company.
We will focus in describing the processes of registration and issuance of IPO’s and all the parties involved in the process.
Unfortunately, the securities market in Panama is in a developing phase, evolving towards a more dinamic state that reflects the economic reality, globally as well as domestically.
1. WHAT IS A INITIAL PUBLIC OFFERING OF SECURITIES
The Initial Public Offering is a process whereby an issuer registers its securities at the National Securities of Commission (CNV) and offers them to the public.
An offer or sale made to persons domiciled in the Republic of Panama will be considered to have been made in the Republic of Panama, regardless of whether it was made from the Republic of Panama or from abroad, unless the CNV determines the opposite.
An offer or sale made to persons domiciled outside the Republic of Panama will not be considered to have been an offer in the Republic of Panama even if it was made from the Republic of Panama.
An investment banker recommends and advises a company during the public offering, helps to integrate a working team, must undertake the carrying out of the due diligence, assists in the technical preparation of the registration petition and the prospectus, (generally) signs a subscription contract with the company and maintains a relation with the issuer after the public offering.
. CURRENT LEGISLATION
The Executive Branch enacted Law-Decree No.1 of 8 July 1, which creates the NATIONAL SECURITIES COMMISSION (CNV) and regulates securities trading in the Republic of Panama; it’s been modified by Laws 4 of 000, of 001 and 11 of 00.
The NATIONAL COMMISSION OF SECURITIES was created as an autonomous entity of the State with legal capacity and its own possessions.
In order to guarantee its autonomy, the CNV
· Shall have its own funds separated and independent from those of the Central Government and shall have the right to manage them.
· Shall approve its income and expenses budget, which shall later be included within the general budget of the State. As long as the CNV budget includes funds provided by the State, its budget will be prepared by the Ministry of Economy and Finance as part of the State’s budget.
· Shall select, appoint and dismiss its personnel and set their remuneration, in conformity with the provisions of its internal set of regulations.
. CONVENIENCES OF MAKING A PUBLIC OFFERING
Advantages Obtaining of cash, liquidity for employees and investors alike, access to markets for future financing, tax advantages.
Disadvantages Reduction of the flexibility in corporate affairs, compliance with reporting requirements of the CNV, restrictions in advertising matters, exposure to class action suits, initial and administrative expenses.
4. STEPS FOR THE INITIAL ISSUANCE OF THE INITIAL PUBLIC OFFERING
4.1. The integration of a working team
The team is integrated by
· The team’s administration
· The Board of Directors
· The subscribers (investment bankers)
· The legal advisors of the issuing enterprise
· The legal advisors of the subscribers
· The external auditors of the issuing enterprise
· Others a fiduciary, a registration, payment and transference agent.
4. Due diligence
It’s the process of ensuring that the information contained the registry application is correct, that the document does not omit any information required or necessary to prevent that statements, considered as a whole, are misleading.
It’s a fact-searching process.
In order for a diligence to be satisfactory, it should
· Interview the directors of the entity, exploring all aspects of the company.
· Contact the main clients of the issuer to verify the representations of the administration.
· Inspect the products made by the enterprise or the services it provides.
· Revise the financial statements with the auditors of the company.
· In conformity with jurisprudence, the due diligence varies in terms of the degree of participation of the work team.
4. Registration Petition (prospectus)
An issuer whose securities shall be registered at the CNV shall present to it, through the intervention of a lawyer, a registration petition of such securities, in conformity with the provisions of Title V of the Law-Decree.
This is a document of much importance and the omissions and/or false statements contained in it will generate administrative consequences (fines) and may serve as basis for civil suits.
4..1. Rejection of public offering registration application
The CNV will reject the petition whenever
· The issuer is a registered issuer and is overdue in the presentation of the interim and annual reports due to be filed in conformity with the Law-Decree.
· When either the prospectus, the information or the documentation are incomplete or do not fulfill the requirements established and/or contain any false statements in relation with an important fact or if it omits an important fact.
4... CNV Requirements
Securities registration petitions object of a public offering that requires authorization of the CNV, in conformity with the provisions of Title VI of Law-Decree No. 1 of 8 July 1, must be filed through the intervention of a lawyer, accompanied by the following documents and in compliance with the following requirements
1. Power of attorney;
. Photocopy of the personal identity document (“c�dula”) or passport of the legal representative, directors and officials of the petitioner;
. Certificate of existence and representation of the entity, which shall include the name, date and incorporation data and inscription, duration, term, subscribers, Directors, Officials, Legal Representative, authorized capital, inscribed powers and resident agent of the petitioner, issued by the Public Registry within the thirty days prior to the date of the presentation of the petition. In the case of foreign entities, a certificate of the Public Registry of the foreign country, or the entity that exercises functions similar to those of the Public Registry, issued within the previous sixty days of the presentation of the petition, stating all the information that is required to petitioners incorporated under Panamanian laws, must be included.
4. Copy of the Public Deed that contains the Articles of Incorporation of the petitioner, its amendments and certification of the inscription of such documents.
5. A copy of the Preliminary Informative Prospectus.
6. Resolution of the Board of Directors or the competent governing body of the entity that authorizes the securities public offering, the number of them, their price, including all possible deductions, names of the persons who have power to authenticate, and the details of the offer.
7. Models of the securities that are intended to be sold, if applicable.
8. Audited financial statements, for the last fiscal year, issued by an independent Certified Public Accountant, interim financial statements at the last interim date prior to the date of the petition, duly certified by a Certified Public Accountant.
. A sworn declaration submitted by the Legal Representative of the petitioner, about the compliance with the provisions in relation to the independence of the Certified Public Accountant � as provided in the Accord related to the Form and Contents of the Financial Statements � and the Legal Advisor, as provided by Article 16 of this Accord.
10. Projects of contracts that are part of the registration petition, whose final versions are to be presented, in copies authenticated by a notary, before the notification of the respective Resolution.
11. Opinion of a legal advisor about the securities registration petition, as prescribed by Articles 15 and 16 of the Accord.
1. Payment slips of the corresponding registration fee.
1. Documentation deemed necessary by the CNV for the information and protection of investors.
14. Whenever a statement, report or opinion of an expert person is enclosed, the person’s name, address, credentials and a statement indicating that the opinion is enclosed with the consent of that person, must be included.
15. The petitioner must file with the petition the written opinion of an independent lawyer of law firm about the securities registration petition object of public offer, as for
15.1 The proper incorporation and force of the persons that assume obligations as result of the registration of the securities for public offer, as well as their corporate capacity to celebrate contracts and to fulfill the obligations contracted therein.
15. The validity of the contracts that are integral part of the registration petition and that the rights and obligations included therein are legal, valid and demandable obligations.
15. The validity of contracts when contrasted to the clauses of the Articles of Incorporation, Statutes and Shareholders’ Agreements of the petitioner, or the existing Laws, Decrees and sets of regulations of the Republic of Panama.
15.4 Obligations assumed by the petitioner and the parties of the contracts that are integral part of the registration petition, such as unconditional obligations assumed by such persons, that enjoy the same preference than the other non-guaranteed obligations by the petitioner.
15.5 The lawyer or law firm that issues the opinion referred to in the preceding Article, with respect to the securities registration petition, must be independent from the petitioner. For that effect, a lawyer or law firm, or the Partners of the latter, shall not be considered independent if they are comprised in any of the following
1. Intern legal advisor of the petitioner;
. Director of Official of the petitioner;
. Effective owner of 5% or more of the outstanding stock of the petitioner; and
4. Administrative employee of the petitioner.
The requirements of independence of the legal advisors is limited to the issuance of the opinion required in the previous Article, therefore the petitioner may receive at any moment advisory from a lawyer of law firm that do not fulfill the above requirements, including the presentation of the securities registration petition to the National Securities Commission.
4... Prospectus contents and form
Prospectuses shall include the financial statements and the information about the issuer, its operations, business and securities that the CNV prescribes.
Prospectuses may contain any other additional information that the issuer wishes to include, as long as it is relevant and its inclusion is not forbidden.
The prospectus should be printed in clear and legible copies.
The instructions included in Annex 1, pages 6 to 1, must be followed.
4..4. Use of the prospectus in securities public offering
No issuer or affiliated company of it or offerer may offer securities that shall be registered, if such offer is not made by means of a prospectus authorized by the CNV or a preliminary prospectus presented to the Commission.
The CNV shall prescribe, by accord, the norms applicable to the use and distribution that should be given to the prospectus in relation with public offerings, in conformity with the provisions of the Law-Decree.
4..5. Use of the prospectus in public offerings
The CNV is empowered to establish the norms that will be applicable to the use and distribution of the prospectus.
Likewise, it has power to make exceptions as for the use of the prospectus when such use is not necessary for the protection of the investing public.
Every offer shall be made by means of a prospectus authorized by the CNV and no issuer of affiliated shall offer securities without being previously registered and authorized by the CNV.
4.4 Registration Periods
· Period previous to the registration at the CNV
The CNV provides that the issuer of securities, persons affiliated to such issuer and/or it offerers, may neither offer to purchase, nor purchase, nor offer to sale, nor sale the securities while the resolution has not become effective.
· Period or registration at the CNV
When the petition is presented to the CNV for its approval, the following activities will be permitted, even thought they do not constitute a firm obligation to purchase or sell such securities
Ø The issuer, persons affiliated to it and its subscribers may offer the securities to sales agents.
Ø Likewise, the persons mentioned above may request purchase orders from other persons.
When performing the above mentioned transactions, the trading must be accompanied by a preliminary prospectus, which must comply with all the requirements set forth by the CNV (it must feature in its cover a clear statement indicating that the securities described therein are in the process of being registered and that the information is subject to change).
During that period, information or advertising material may not be distributed, except for those authorized by the CNV.
· Period posterior to registration at the Commission
Whenever the resolution approving the registration of securities in the CNV becomes effective, offers may be made of such securities in any form, as long as they accompanied by a definitive prospectus.
As requirement, every prospectus must be updated by means of a new prospectus or a supplement in the following cases
a. Immediately if during the offering period a fact such as the following takes place
a.1. A statement in the prospectus turns out to be false.
a.. A fact should be divulged in order to make that a statement about an important fact, included in the prospectus, is not deemed misleading or tendentious considering in the circumstances under which it was made.
b. Within the thirty days following the date the issuer files its annual report to the CNV.
The CNV has the power to suspend the use of a prospectus until it is modified in case it finds that it has false information, omits important information which must be divulged, etc.
4.5 Contractual arrangements with the subscriber
Ø The issuer generally holds a subscription contract with the investment banker.
Ø Depending of the type of subscription, the subscriber may incur in the obligation of acquiring the securities offered by the issuer.
Ø The subscription must be made firmly or based in the best efforts.
5. ROLE OF INVESTMENT BANKING IN IPO’S IN PANAMA
· Recommending and advising the enterprise in the public offering
· Helping to integrate the working team
· Procuring the realization of the due diligence
· Assisting in the technical preparation of the registration petition and the prospectus
· Holding the subscription contract with the enterprise
· Maintaining a relation with the issuer after the public offer
6. IPO’s Made in Panama
Among the IPO’s made in Panama we have the following
· IDS Holding Corporation (Sears)
· Tropical Rainforest Resort (Gamboa Hotel)
· Corporación Microfinanciera Nacional
· Equus Entertainment de Panamá (Presidente Remón Racetrack)
· Inversiones Latinoamericanas (Inverlat)
7. Reasons for a company to choose to go public
Some of the reasons for a company to go public are the following
a. Obtaining funds from the public offering of securities. With the funds obtained in this manner a company can increase its working capital, invest in research and development, expand premises and equipment, acquire other companies, etc.
b. Obtaining funds in more favorable terms. Once a market is created, and if the security (share) performs well, the company will be able to offer investors a security with liquidity and with a determinable market value.
c. The company can contemplate the acquisition of other enterprise with its public shares, instead of using cash or acquiring debts with third parties.
d. The enterprise may attract and retain better personnel by means of option plans for the purchase of its own shares by its employees. This is a great incentive to its labor force, thus generating more loyalty to the enterprises. In principle, there will be less labor problems since employees would largely feel part of the enterprise and wish the best for it, since this would also be the best for them.
e. The enterprise gains prestige and more recognition. Clients and suppliers may become shareholders and acquire the goods and services that their company produces.
f. Liquidity is obtained for the owners. Property in a close, non public business is an asset that lacks an immediate market. Once the company goes public, a market is or must be ready at any moment.
g. The company can eliminate existing guarantees, such as personal and/or real guarantees, so avoiding the need of personal sureties by the shareholders.
h. A sensation of financial success, at least of a psychological nature, is reached.
i. Undoubtedly, in our environment the tax advantages constitute a decisive factor. The existence of a special tax treatment for investments in registered securities is justified in the fact that, in this manner, individual resources can reach the productive enterprises that need them. This brings benefits for the country, which strengthens itself with enterprises that generate goods, services and jobs.
Among the disadvantages and/or consequences of making an initial public offering we have the following
ü Reduction of the flexibility in corporate affairs.
ü Starting administrative expenses increase.
ü Compliance with the requirements of reporting to the CNV and those of the stock exchanges where the securities are listed.
ü Restrictions in matters of advertising.
ü Exposure to class action suits.
ü Transparency.
ü The issuer must maintain good relations with the holders of its securities.
ü Sales of securities by persons who control them.
8. The securities market of Panama
The intermediation of securities in Panama dates to many years ago. It could be said that it is as old as the Republic itself, which this year celebrates the centennial of its independence. In its beginnings, this activity was carried out in an informal manner; it lacked mechanisms of organization and it did offer neither the information nor the sufficient transparency to protect the investing public. It was not until July 170 when the National Government enacted Decree No. 47, which was later substituted by Law-Decree No. 1 of 8 July 1, whereby the National Securities Commission was created and the Securities market in the Republic of Panama is regulated.
At the beginning of the 170s, a group of investors made serious and meritorious efforts to establish a stocks exchange, to the point of meeting periodically and publishing reports about the operations performed among them. However, the growth and development of both international banking and the National Banking Center caused, as a result, that both the National Government and the private sector found all the necessary financing in the Banking Market, rendering useless, at the time, the existence of a stocks exchange.
By the early 180s, the high levels of external indebtedness and a poor economic development caused a reduction of financing offers by the international financial system towards the Governments of Latin America. Likewise, the past economic and political crisis Panama underwent during the years 187, 188 and 18 caused that an informal securities market acquired significant importance as means of financial intermediation.
Despite being an informal market, it had great acceptance within the Panamanian community, which made people estimate that it was the appropriate moment for the creation of a stocks exchange in Panama, that complied with the objective of serving as intermediate between the State and the private sector, on one side, and the investors, on the other, for the trading of securities. This way, a formal securities market is created in Panama, divided in a primary market and a secondary market.
Over the years, Panama’s Stock Exchange, along with the trading posts, stock traders and other collaborators of the national securities market have increased their efforts to divulge information on the newspapers about the negotiable securities in our country. However, these efforts are focused on a specific and limited sector; thus preventing a sector of equal or higher purchase power from participating in Panama’s Securities Market.
In addition to this limitation, the lack of knowledge about the matter in a general level, by bank depositors �who are more focused in the banking center as source of income over their savings-, reveal the lack of investing opportunities, thus limiting the development of the Securities Market in Panama and, therefore, the development of the economy in the country.
Panama is currently a country where a large part of the population lives in a situation of poverty; other part of the population generates income only large enough for survival. Because of this, talking about the existence of savings plans that could be turned into investments turns out to be somewhat cynical and cruel, since the savings habits of the average Panamanian is almost nonexistent. As a result, the universe of local investors is quite reduced.
To make things worse, those investors that could invest find themselves skeptical and distrustful, due to recent financial scandals that have weakened the fundamental element for our system to work efficiently trust.
However, despite the fact that we are advancing and we feel we are on the right track, since we have a better legislation than the one we had years back, there’s no doubt that we still have so much to do. Facts, rather than words, are required. Reaching a fine level demands time and is a labor that involves many members of society. It is not a labor to be done isolated from the regulatory entity of the securities market. The private sector, as well as the Government and all of the community must participate.
We must point out that the world economy has received severe blows in recent years, with the Securities Market being one of the most affected, a situation that generates mistrust among investors. The bankruptcies of listed companies in the Exchange, the social and political instability in our country are some of the determining factors in the short- and medium-term development of the securities-trading activity.
External auditors and independent public accountants also play an important role for the system to work efficiently. They must be important allies of the investing public and the CNV. Accountant perform a very important role, since they are, by law, to attest about the veracity of information related to transactions carried out by public companies, as well as the disclosure of their financial situation, with the purpose of facilitating decision-making by the shareholders. In light of new regulations that protect investors, such as the Sarbanes-Oxley Act of 00 of the US, the CNV has taken actions on this subject and issued Accord 7-00, whereby modifications are introduced to certain aspects that regulate registered companies and their auditors and accountants.
Considering the current situation of the country’s economy and the low levels of investments by depositors, it is necessary to awaken interest in the alternative investments represented by the Securities Market. Also, the current crisis of International Banking Centers has surpassed its conditions to the National Banking Center, making attractive other investments alternatives that generate higher profitability for investors. The CNV is performing a titanic task that in many aspects implies a struggle against negative patterns of behavior too embedded in our society. However, with the effort of all, it is a labor that will produce large tangible benefits for the development of the country and its population. This way, we will be contributing to the successful development of this activity that generates new sources of financing for our businesspeople, which in turn produce higher levels of profitability for depositors that choose to invest in Panama’s Securities Market.
. The Panama Stock Exchange
There’s only one stock exchange in Panama, Bolsa de Valores de Panamá, S. A. (Panama Stock Exchange, BVP in Spanish). The BVP is a corporation incorporated under the laws of the Republic of Panama; its shareholding group is integrated by the main banks of the location, including the National Bank of Panama, as well as commercial, insurance and industrial enterprises, businesspersons, professionals and securities agents.
The authorized capital of the BVP is US$1,800,000 divided in 180,000 shares. This level of capitalization is caused in first instance, by the interest of giving participation in the exchange to an ample and diversified number of shareholders and the purpose of setting up an administrative apparatus that could offer an efficient service and a data-processing system with capacity to store and having available and easy-to-access by the public, information about enterprises and entities whose securities are traded in the exchange.
Exchange members must be entities with legal capacity, whose shares must have been issued in nominal manner in favor of natural persons, except in cases of banks or public-holding enterprises. Besides, members of the BVP must follow these requirements
· To devote solely to securities negotiation in an exchange.
· To have a securities agent properly authorized by the BVP of Panama as legal representative or general holder of power of attorney.
· To feature a paid capital no lesser than US$50,000 and being owner of ,500 shares of stock of BVP.
· To possess the necessary professional capacity for this kind of activities.
· To be the beneficiary of a fidelity and compliance policy that the BVP requests.
At all times, members of the BVP are subject to audits and investigations that the BVP decides to carry on, and their rights may not be alienated to third parties without previous authorization by the BVP. This way, the BVP will allow a large participation of all interested parties that comply with the necessary conditions for that.
The BVP is a market where a series of products are traded and where buyers and sellers get in touch; it is a meeting place between two main characters in an economy companies and saving depositors.
The BVP fulfills an essential function in the growth of an economy, since it flows savings towards productive investment. It is a financing instrument for enterprises and of an investments one for saving depositors.
In our country, the goal and objective of the BVP is to gather securities trading companies registered in it in order to perform trading of several classes of securities. Its function is to manage and regulate this process and to receive a commission that will vary depending on the type of instrument traded in its value.
The BVP must watch over the promotion and exchange of securities, both public and private, and that transactions are performed in accordance not only to the Law, but also to strict standards of commercial and professional ethics. It must also provide and maintain, available for the public, financial and commercial information about the enterprises registered in it.
We consider pointing out that the fact that an enterprise is registered in the BVP, does not guarantee that investing in it is secure. The BVP’s responsibility is limited to watch for the existence of a liquid and transparent market for securities quoting. Investors, aware of the inherent risks, are responsible for their decision of buying or selling a share of stock.
10. Comparison between the IPO markets of Panama and the US
In this section we’ll take a gross overview of the similarities and differences of IPO markets in Panama and the United States. These similarities and differences will help us to understand both markets and give us a better perspective of what to expect from these markets in terms of opportunities.
10.1 Similarities
The main reason as to why companies in both markets, Panama and the US, decide to go public is the need to obtain capital. This need to obtain capital in both markets originates from the same reasons, that is, to increase its assets quickly and to expand and to pay debts.
A similarity between both markets is that they are regulated by an entity in charge of regulating, analyzing and watching over the sales of securities to the investing public. In Panama, that entity is the National Securities Commission, while the Securities and Exchange Commission holds those tasks in the United States. Both commissions have the power to create secure environments for investors.
Another similarity between both IPO’s markets is that carrying out that initial shares sales operation is costly, complex and requires too much human effort and capital. In both markets these costs may represent between 15 and 5% of the capital collected by the initial public offering of these securities.
Both IPO regulatory entities demand a heap of information that must be filed to them. They also demand that part of this information must be presented to investors and to the possible investors in a document called prospectus at both markets. The prospect must describe relevant facts about the operations of the company, its financial condition and its administration. In the Anglo-Saxon market, all companies wishing to offer their securities to the public must file form S-1. The prospectus must contain the following information as a minimum for both markets as well
1. The business name
. Properties
. Competitors
4. Identities of their officers and directors, and their compensations
5. Material transactions between the company and its officers and directors
6. Material legal proceedings involving the company or its officers and directors
7. The plan for distributing the securities; and the intended use of the proceeds of the offering.
Registration statements must include also the financial statements, audited by an independent certified public accountant.
Besides the information required expressly by the form, the company must provide any other information deemed necessary to make a complete disclosure and avoid presenting misleading statements. The prospectus must also mention any other prominent risk, for example
1. Lack of business during the company’s history
. Adverse conditions in that particular industry
. Lack of markets for the securities offered
4. Dependence of key personnel within the enterprise
As we can see, all these similarities in the IPO registration process exist because Panamanian legislation is based on American legislation as for regulations for the issuance or securities.
In the American market, after the IPO the company is obliged to comply with the requirements of reporting to the SEC the following information
1. Its operations.
. Its officials, directors and some of its shareholders, including salaries, benefits and transactions between a company and its administration.
. The financial condition of the company, including the financial statements audited by an independent certified public accountant.
4. Its competitive position and material terms of contracts or lease agreements.
This information must also be provided to the CNV by issuers of an IPO in Panama.
Another similarity between both environments is that issuances take approximately the same time to prepare and launch to the market. IPO’s in Panama and the US typically take about to 6 months. Half of the time is spent preparing the requirements for the SEC, while the rest, 4 to 6 months, is used for road shows to market the offering.
A similarity worth mentioning is the role of the investing banker in the cases of initial public offerings. The role of the investment banker is the same in IPO’s markets in both the USA and Panama.
10. Differences
A clear difference between the IPO’s markets in the USA and Panama is that while in the USA any issuance of IPO’s are regulated by federal and state laws, in Panama they are regulated by the country’s national laws, since there are not bounds imposed by the provinces separately.
Another important difference in the IPO’s markets is that in Panama there is only one stock exchange, known as the Bolsa de Valores de Panamá, S. A., whereas there are several stock exchanges in the USA, such as NYSE, AMEX and NASDAQ, where the IPO’s can be traded.
The markets of the IPO’s differ much as for the size of each of them to make the initial offering, since the Panamanian market has a population of merely million people, out of which only 6 to 7% has a savings and investing capacity, whereas in the USA there is a population of million people with a high degree of investing power.
Another difference between both markets is that transactions in the USA can be made on the Internet, while in Panama the technological platform to provide such service does not exist yet.
Another difference about the initial offering in both markets is that there are no restrictions as for the initial price of the securities offering in the Panamanian market, as long as it has fulfilled the requirements of the CNV, whereas certain restrictions in the US market do exist about the initial price.
CONCLUSION
After our research, we can state that not all companies are eligible to go public, since this is a complex and costly decision, which requires legal and financial professional advice, in which accountants and lawyers play a preponderant role.
By making a comparison between the IPO’s in Panama and the United States, we can see that there are more similarities than differences between these two markets.
The larger amount of similarities is caused by the fact that the regulations in Panama are based on the American ones. The few differences we can find exist due to the discrepancies in size and development of each of these markets.
As conclusion, we can say that IPO’s in Panama resemble the worldwide trend of countries in development level, promoting its securities markets with the hope that those efforts can be seen reflected in terms of a more accelerated economic growth.
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