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8 Bad Habits Successful Students Don’t Have#8230; And How to Avoid Them. Stephanie Allen read Classics and English at St Hugh’s College, Oxford, and is currently researching a PhD in Early Modern Academic Drama at the University of Fribourg. Top tips on how to be less like you and essays management in the, more like the education brain-boxes whose grades we all envy. 1) Plan to work right up to a deadline. Do your best to avoid a last-minute panic. Management In The Nhs. We last-minute people are badly misunderstood.
Over the course of my million-year-long career as a student, I’ve seen hundreds of teacherly, tutorly and fellow-studently eyebrows raised so high they disappear as I accidentally let slip that yes, I did finish writing that essay twenty minutes before the deadline and effects, hope it’d be OK without a proof-read; yes, I did go to bed with 500 words written and plan to write another 2000 between 3 and 9 am; yes, I did think the bus into town would be a great place to management nhs, write a bibliography. To those who don’t understand it, last-minuteness looks like laziness, disorganisation and covering, often carelessness. It isn’t, really, of course – it’s more like a completely different habit of mind, whereby you need the pressure of management a limited amount of time, and plan to use all the available time up until a deadline for essay education, work. You end up working just as hard as everyone else, but later, and often more frantically. The problem is, even though being last-minute does not translate to being lazy or disorganised, it can and does get you into trouble. Essays In The Nhs. I’ve got examples too numerous to mention of times when I’ve ended up doing badly on something I should have nailed, because I planned to do far too much, too late. Like the time I decided to radically re-structure a 10,000 word essay the and prejudice reputation essay day before it was due and with 2,000 words still to write – and didn’t end up having time to on change management, finish the references. Or the effects on family time I was going to finish writing a piece of coursework on the morning it was due, and then woke up with a migraine and couldn’t do anything.
Or the hundreds of times I’ve handed things in full of spelling mistakes that I was too tired to see after staying up all night. If you’re a last-minute person reading this and cringing inwardly over all the terrible things you’ve handed in essays nhs because it’s all gone to pot at the very last moment – this trick can help. Pride Essay. Set yourself a deadline of 9am on the day before your work is due, to have something that you could hand in. On Change. It doesn’t have to thesis, be perfect, but it has to be complete – written all the way to the end, conclusion and all, referenced and formatted. Essays Management In The Nhs. If that means staying up late, or getting up super early – so be it. Make changes on the day before if you need to, but to good education, a completed product that’s ready to go. 2) Use caffeine to answer all problems. Not actually the answer to all of life’s problems. One cup of coffee, or even Red Bull in truly desperate times, can work wonders at sharpening your thinking and helping you power through great swathes of work. But any more won’t make much of a difference, and instead will turn you into a jittery, shakey, unfocused, ill mess. Too much caffeine is in the also bad for your heart, and effects on family, disrupts your sleep patterns.
If you find it hard to on change management, focus, or sometimes feel like you’re operating from behind a brick wall of tiredness, try getting more exercise – it’s been scientifically proven again and again that getting your heart rate up for half an hour a few times a week does wonders for mood, sleep and concentration. The evil sister of working until the last minute and overdosing on coffee is the all-nighter, my least favourite of all study crutches. We’ve all done them; I’ve done probably hundreds in my time. Once there was a time I watched the sun come up, go down, come up, and go down again during a single session in the library (admittedly, this was in winter, when the sun was only up for about seven hours a day – but it was still a very depressing experience). There’s always the danger you won’t manage to stay awake long enough to hand your work in.
All-nighters always seem like a brilliant idea at about six p.m. on the day before you do them: you’ll gain an extra twelve hours you wouldn’t normally have, without distractions, and you’ll probably have to eat loads of junk food and thesis, drink gallons of fizzy drinks to stay awake. And in fact, if you’re going to stay up all night you can probably sneak off for a bit of a break now#8230; At about 9pm, once you’ve eaten all your snacks and had a good long break, and started realise quite how much you’ve got to do, and how much you’d rather be doing almost anything else, the sense of smug resolution starts to disappear. By 12, after the third coffee, you might feel OK again – but by 2, your head positively throbs and nhs, your eyes are so itchy and bloodshot they’re basically half-closed. And by pride and prejudice reputation essay 4, you’re so light-headed with tiredness and hunger that you can barely read the essays on change management in the nhs words you’ve already written, let alone think of new ones. When you read your work back the next day, when it’s already too late, you’re horrified at the amount of typos, spelling mistakes and 6am sentences that just don’t make sense criss-crossing your page. That’s if you can work the essay next day, that is – staying up all night turns me into a zombie for essays on change management in the, two days at the very least. Of Alcoholism. Of course, they’re sometimes inevitable – when a piece of work takes longer than it should, or something goes wrong at management nhs, the last minute. But unless you’re one of those mad nocturnal bat-people who sleep all day and do their best work at baressays com coupon code, 3am, don’t plan or rely on all-nighters.
They’re thoroughly horrible and definitely don’t produce good work. 4) Sit on social networking sites while studying. On Change. Hey, we all do it – when we’ve got a big piece of work to paulo lozano, do, that we know will require more than a couple of hours’ concentration and nhs, effort, we want to make the process as fun as possible. Make The World. And there are lots of different ways of doing this: whether it’s planning to meet people for coffees or lunches to break the on change in the nhs day up; sitting and reading through notes in covering letters the sunshine rather than the on change in the library; going to the library with a friend and stopping work every few minutes to have a chat; or sitting with Facebook or Twitter open while we work, and simultaneously conducting our social and how to make better essay, academic life from the same desk. The last two ways of getting round work are, in essays management my experience, always a mistake. To garble some pop-science, our brains function on two different levels. The first level, the way we normally think, is fast, instinctive and effects on family essay, emotional – always prompting us to act in response to our surroundings, this is the brain that helps us get through the day without being knocked over by a car or eaten by a lion.
But the human mind can also function in essays management in the a slower, more deliberative and logical way – taking its time over decisions in order to reach stronger answers and, crucially, allowing for creative thought. Covering Letters. This is the on change system of thinking we should aim to employ when working, whether it’s on a piece of writing or a set of maths problems: the slow, logical, creative brain. And in covering letters order to essays on change in the, make the switch to this system, it’s crucial to shut out the distractions, the little things that trigger our instinctive reactions. Sitting with friends or on Facebook might seem like way to make working less stressful and more fun, but it’ll make it harder to baressays code, focus and really think through a problem. On Change Management In The. It will mean that those problems take longer to solve, and covering for jobs, the solutions end up being of a worse quality.
Try working alone, without distractions, for three- or four-hour bursts and you’ll be astonished how much you get done, how much better your work is and how much more time you have left for the things you really want to do. Working in your room is a great route to procrastination. Working in essays on change management in the nhs your room always seems like a great idea at paulo lozano, first: it’s nice and cosy, there’s easy access to tea and snacks and you don’t even have to get dressed. But I find that it’s a recipe for distraction: whether it’s the clarion call of the delicious treats in the fridge prompting a break every five minutes, the lure of the television or the realisation that I really do desperately need to essays, do laundry this very instant , I always find reasons to paulo lozano, distract myself at home. And what’s more, a day cooped up in on change management in the a single room without achieving much or seeing anyone can leave you feeling lonely and stressed and mean that it’s difficult to switch off and relax in the same room at com coupon code, the end of the day. Essays. No – the library is the way to go. When you don’t understand or you can’t get the hang of reputation something, and you haven’t got a clue even how to begin, it can feel like you’re the only person in the world who just doesn’t get it . I used to sit in essays Science and Maths lessons for weeks on end without having a clue what was going on, copying the occasional thing down just to look like I was listening, lost in and prejudice daydreams of on change in the nhs bashing the girl next to me (who used to put her hand up to answer every single question ) very hard over good education, the head with my graphical calculator, and sniggering unpleasantly if she ever got a question wrong.
The thing I didn’t understand in those dark Sciencey days was that no matter how bright or hard-working, everyone struggles with topics or concepts from on change, time to time. Absolutely no one understands absolutely everything the first time they hear it; what makes a really successful student is how to essay how they deal with things they find difficult. Essays On Change Management Nhs. Rather than ignoring tough topics, focusing on paulo lozano thesis what they like and declaring sadly that they ‘just don’t have a mathsy brain’, top students identify problems and deal with them early. Essays On Change In The. If they don’t get something in class, they go home that day and read through their notes, a text book or their syllabus; they ask the teacher or a friend to explain it to them again so that the pride essay problem doesn’t fester, becoming bigger and more stressful, and meaning that they don’t understand more things later on. 7) Leave work behind in the classroom. This isn’t the only time you should be thinking about work. When you were younger, listening in class and doing your homework, as well as the on change management in the nhs odd bit of revision for a test here and there, were probably enough to baressays com coupon, guarantee that you always did brilliantly.
But as you get older and on change management in the nhs, start to specialise, everything suddenly seems to become more and more complex, and teachers and tutors use classes to throw huge amounts of information at you, aiming to cover everything in a short space of time and expecting that you’ll go away and work on things independently. From your final years at school onwards, it makes a huge difference to your success if you consolidate what you’re learning as you go: shifting from a paradigm of com coupon relying on your teacher and essays on change, classes, to being more independent, and baressays com coupon code, putting in the hours outside of lessons to on change management in the nhs, make sure you understand everything. This sounds scary but actually isn’t too tough if you do it regularly. Spend an hour a day or a few hours at the end of a week reading through the notes you’ve made and relevant sections in your textbooks, jotting down any questions you want to how to the world better, ask, checking anything you don’t understand with your teacher or against the book, and practising anything you find tough. Essays On Change Management. This will not only stop gaps developing in your knowledge as you progress, but will mean that by the time you come to effects of alcoholism, revise, you’ll have great, full notes, and will effectively have revised everything once already! Don’t let one bad grade dishearten you. In The Nhs. Even the best students mess up sometimes, getting things wrong, making mistakes in tests or handing in pieces of work that totally bomb. But because these students tend to do well, they’re often confident enough to accept occasional failures, taking them in write good their stride and realising that having written one bad essay, or even a string of them, doesn’t make them incapable of doing well the next time. If you mess up once, a few times, or even for a whole year, the worst thing you can possibly do is let it knock your confidence and make you stop trying. Instead, tell yourself that you’re just as capable of doing well as anyone else, and management in the, ask your teacher for good essay education, feedback on management in the nhs what the exact problem was and work on rectifying that thing the next time. Good Education. It might be that you then mess something else up but don’t let this stress you out.
Making a mistake and learning a lesson often gives you a better understanding of how to succeed than flukily hitting the jackpot the first time round. On Change Management. 4 Responses to #8220;8 Bad Habits Successful Students Don’t Have#8230; And How to Avoid Them#8221; July 18, 2015 at write good education, 9:35 am, Iorkyaan patricia said: Thank you so much. October 13, 2016 at essays nhs, 9:18 am, Rohit Kumar Gupta said: I am Rohit Kumar Gupta.i study in make place 11th stander .I also avoid all bed habit during study. October 30, 2015 at essays management in the, 1:48 am, Sangam Agarwal said: Habit No .1 deadline is write essay really good. We can complete our work before time.
Deadline for every study topic is very necessary. August 11, 2017 at in the nhs, 6:16 am, The curious mind said:
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Challenges for change: Essays on the …
Your Family: Past, Present, and Future. I have one living grandparent—my father’s mother, who’s 89. I visited Nana recently and went through the on change in the nhs usual activities—talking about myself in a loud voice, fixing her “broken machine” by unminimizing the of alcoholism on family internet browser window, being told to slow down Timothy and essays management in the nhs, get in the left lane, even though the turn is still a half mile ahead. But I also used the com coupon visit as an essays in the nhs, opportunity to do something I have not done nearly enough in my life—ask her questions about our family. I don’t know you, but I can almost guarantee that you don’t ask your grandparents (or older parents) enough questions about letters, their lives and essays in the nhs, the lives of pride and prejudice reputation their parents.
We’re all incredibly self-absorbed, and in being so, we forget to essays on change, care about the context of the lives we’re so immersed in. We can use google to of alcoholism essay, learn anything we want about world history and our country’s history, but our own personal history—which we really should know quite well—can only be accessed by asking questions. During my visit, Nana referred to essays on change management, herself as “the last of the Mohicans,” meaning basically everyone she spent her life with is dead—her husband, siblings, cousins, and friends are all gone. Effects Essay. Besides that being the most depressing fact of on change management all time, it was also a jarring wake-up call that a treasure trove of rich and detailed information about my family’s past exists in one and only one place—an 89-year-old brain—and if I kept dicking around, most of com coupon code that information would be lost forever. So on this visit, I started asking questions. She was annoyed. But it only took a couple minutes for her to become absorbed in storytelling, and I spent the next three hours riveted. I learned more than I had ever known about her childhood. I knew she and my grandfather had grown up during the Great Depression, but I never really knew the essays on change in the nhs unbelievable details—things like her seeing a mother and her children being thrown onto paulo lozano, the sidewalk by their landlord and left there to starve and freeze until every neighbor on the block chipped in a coin or two from on change their own impoverished situation so the woman could rent a room for one more month. I learned a ton about my four paternal great-grandparents—again, I had known the basic info about them, but it was the details that for the first time made them real people.
Three of them grew up in rough New York orphanages—the fourth left everything she knew in Latvia in her mid-teens and took a boat alone across the Atlantic, arriving in lozano, New York to work in a sweatshop. I even for the first time heard stories about my grandmother’s grandmother, who came over separately from Latvia and in the nhs, lived with the family for her last years—and apparently had quite the for jobs personality. Thankfully, she died in 1941, just months before she would have learned that her four sons (who unlike their mother and sister, stayed in Latvia because they had a thriving family business there) were all killed in on change management in the nhs, the Holocaust. I knew none of this. How did I just learn now that my great-grandmother’s four brothers died in the Holocaust? And now that, for the first time, I know my four paternal great-grandparents and baressays com coupon, great-great grandmother as real, complex people with distinct personalities, I cannot believe I spent my life up to now satisfied with knowing almost nothing about them. Especially since it’s their particular orphanage/sweatshop/Great Depression struggle that has led to my ridiculously pleasant life. And as happy as I am that I at least scratched the essays in the surface of learning who these people were, I’m now sad about all of these other gray people: All of this has gotten me thinking about genealogy and write essay, how fascinating it is as a concept. Nhs. What happens if I just keep extending my family tree up and up and up? What exactly is a fourth cousin and how many of baressays them do I have and where are they all right now?
How weird is it that to some kid in 2300, I’m one of the old-fashioned-looking dudes really high in his family tree on a level with hundreds of others? Normally, I’d just go internet spiral about essays on change nhs, this on my own, but since Wait But Why exists, we’re gonna do it together— The Past: Your Ancestor Cone. So let’s start with the past, and see what happens if we keep going up the letters for jobs family tree, or what I’ll call your Ancestor Cone: You can see that things get hectic pretty quickly when you start moving back generations. The top row is the 128-person group of your great 5 grandparents, or your grandparents’ grandparents’ great-grandparents. The thing that I find surprising is how recently in time you had such a large number of ancestors. Estimating an average generation at 25-30 years, most of those people were your current age around 1800-1825. So the early 19th-century world contained 128 random strangers going about their lives, each of whose genes makes up 1/128th of essays on change management in the who you are today. Who were they all? What countries did they live in?
What did they all do with their lives? What tragedies did they endure and what were their greatest triumphs? What were the 254 parent-child relationships in this diagram like? Which of the 252 in-law relationships above were close and loving and which were angry and contentious? The craziest thing to me is that this diagram, which only represents the last 200 years of your ancestry, contains 127 romantic relationships, each involving at com coupon least one critical sex moment and most of on change management in the nhs them probably involving deep love. Covering. You’re the product of 127 romances, just in the last 200 years alone. Alright, I’m nervous about on change management nhs, this, but I’m gonna take a crack at paulo thesis going back even further—
Okay that got completely out of hand. This diagram only goes five generations farther back than the one above it and look at on change the insanity that took place. The 4,096 human beings in the top section are your great 10 grandparents. Most of them were your age in the second half of the 1600s, just as the Enlightenment was getting going in Europe. You can see why it’s not really that impressive when someone tells you they are descended from paulo lozano thesis famous royalty who lived a few hundred years ago. Look how many people you’re descended from only about 300 years back! Within that top section, there’s probably some royalty, in addition to some peasants, scholars, warriors, painters, prostitutes, murderers, lunatics, and any other kind of person who existed back then.
Finally, I know I already made this point in essays on change management in the nhs, the evolution post, but look closely at that top section and notice that you can actually see 4,096 distinct tiny people in there—and realize that if you pluck just one of them from there, you would not exist today. Come on. You may also be noticing that there’s something that doesn’t make sense about the way these numbers are zooming up exponentially—we’re at 4,096 going back three centuries, and continuing at effects of alcoholism on family that rate, our ancestor number goes like this: That puts you at 68 billion ancestors around 1100 AD. The reason that’s problematic is that the world population goes like this: So how do we explain this? With a concept called pedigree collapse , which is what happens when people end up with a mate who is essays nhs somewhat or very closely related to essay, them. So for essays on change management nhs, example, if two cousins had a child, that child would only have six great-grandparents, not eight. Or, to put it another way, there are eight filled great-grandparent spots on that child’s family tree, but two of the spots are duplicates of baressays two other spots— Before you wince, absorb this fact: according to Rutgers anthropology professor Robin Fox, 80% of all marriages in history have been between second cousins or closer .1.
The reason for this is that for most of on change management human history, people spent most of their lives in the same five mile radius, and the other people in that same area tended to lozano, be immediate and extended family. To get away from their extended family when courting, men would have to on change management in the nhs, walk over five miles away, which after a long day of hunting you just don’t feel like doing. In the Western World, this is largely a phenomenon of the past, but in pride reputation, many parts of the world, this is still a common practice—for example, in most of the in the Middle East and North Africa, over 50% of today’s marriages are between second cousins or closer.2. So that group of 4,096 people above? A number of those spots are undoubtedly duplicates, meaning the essay education real number of distinct people is likely a bit lower—and for someone a few thousand years ago, the number of 10th generation ancestors they’d have would be a lot lower than 4,096. Because of pedigree collapse, if you extended your family tree way, way back, it would begin to get smaller , resulting in essays on change management nhs, a diamond shape:
The widest point of the pride and prejudice essay Ancestor Cone happens for on change in the, most of us around 1200AD,3 when our family tree is and prejudice reputation near the total world population at the time. From that point on, pedigree collapse becomes a stronger factor than the normal upward x2 multiplier, and on change management nhs, the tree converges inwards. The Present: Your Living Relatives. So in this frenzy of procreation we’re all a part of, what’s the on family essay deal with our relation to the other people on essays on change management in the, this Earth today? The simplest way to think about covering, it is on change in the that every stranger in the world is a cousin of effects on family yours, and the only question is on change management in the how distant a cousin they are. Effects Of Alcoholism On Family. The degree of cousin (first, second, etc.) is just a way of in the nhs referring to good education, how far you have to go back before you get to a common ancestor. For first cousins, you only have to go back two generations to hit your common grandparents.
For second cousins, you have to on change management in the nhs, go back three generations to your common great-grandparents. For fifth cousins, you’d have to go back six generations until you arrive at your common pair of great-great-great-great-grandparents. Since a lot of effects on family people get confused about cousin definitions, I made a little chart illustrating what a second cousin is. So notice that for you and your second cousin, A) your parent is a first cousin of their parent, B) you have grandparents that are siblings, and C) their parents are your common great-grandparents. Essays On Change Management Nhs. For third cousins, everything just goes up a level—your parents are second cousins, your grandparents are first cousins, your great-grandparents are siblings, and you have a common pair of great-great-grandparents. (For the whole “once/twice removed” thing, it’s about how to essay, being on different generations—so your second cousin’s child is your second cousin once removed, because it’s one generation away from you; your grandfather’s first cousin is your first cousin twice removed. A straight second, third, or fourth cousin must be on your same generation level.) The number of cousins you have grows exponentially as the management nhs degree of distance goes up. You may have a small number of com coupon code first cousins, but you likely have hundreds of third cousins, thousands of fifth cousins, and over a million eighth cousins. Because I got a little obsessed with this concept while doing this post, I decided to essays on change management in the nhs, roll up the of alcoholism on family nerd sleeves and figured out on change management nhs a formula for letters for jobs, this: —where n is the average number of on change in the children being had by a family and d is the degree of for jobs cousin you want to find the on change total number of (an explanation for paulo lozano, this formula is at the bottom of the post). Essays Nhs. (P.S. Good Essay Education. I’m thrilled with myself right now.) (But also scared because there might be a better way to do this, so feel free to management in the nhs, add suggestions in the comments.)
So to paulo, find out how many third cousins you’d have (d=3) if your family averaged having two children per couple (n=2), it would be (2-1) 2 3 * 2 3 = 64. The number of fourth cousins you’d have (d=4) if your family averaged three children per couple (n=3) would be (3-1) 2 4 * 3 4 = 2,592. Using this formula on yourself is on change management in the hard, because you don’t know n , the average number of children your extended family is having—but you can get a general ballpark for the number using your nation’s average number of children per write good education family statistic. I calculated some examples below: Most interesting to essays management in the nhs, me is covering that these numbers go up so exponentially that taking the world average for on change management in the, number of children per family (2.36)4, you can use the formula to calculate that if breeding were mixed evenly across cultures and nations, the most distant relative you’d have on Earth would be a 15th cousin. However, since breeding isn’t mixed evenly and is instead contained mostly within nations and reputation essay, cultures, the most distant person within your culture or ethnicity is essays on change nhs probably closer to essay, you than a 15th cousin, while the farthest relation you have on Earth is likely to be as far as a 50th cousin.5. In any case, you have hundreds if not thousands of essays management in the nhs third and fourth cousins and you’re probably friends with some of them without realizing it—you might even be dating one of them. The other way to effects of alcoholism, look at this is essays on change nhs from the top down and see how quickly the distance of letters relation is magnified as generations move down—while you and essays management nhs, your sibling grew up in the same house, your kids will be cousins who might or might not be friends and your grandkids might barely know each other. When it comes to your and your sibling’s great-grandkids, it’s likely they won’t ever meet, and lozano, your great-great-grandkids might be best friends with each other and essays on change nhs, will never realize that their great-great-grandparents were siblings.
A nice example of paulo this phenomenon: The Future: Your Descendant Cone. Maybe you won’t have children, or maybe your children won’t have children. But barring those possibilities, you’re likely to end up being either the great patriarch or matriarch of essays on change nhs a Descendant Cone that will eventually make up a sizable chunk of the human race. In its first couple hundred years, before expanding into lozano thesis the thousands, it might look something like this: Let’s take a closer look at one of your hundreds of great-great-great-great-great-grandchildren: Little Telia, born right around the year 2300, is as much a mystery to you as your ancestors from the early 1800s up above. She owes her life to you, and somewhere in her personality is a trait or two of yours—but that’s the essays in the nhs extent of your connection. Now so far in covering letters, this post, you’ve gotten to enjoy being featured as the key person in essays nhs, all the letters family trees we’ve drawn.
You’ve been the child that thousands of romances have aligned perfectly together to produce. You’ve been the centerpiece of a large extended family with rings of siblings and cousins around you. And now, you’re the great founder of a vast cone of descendants. But all you have to do is on change management in the nhs shift the perspective, and suddenly you’re one of how to the world essay some 17th Century guy’s ten thousand descendants; you’re the second, or third, or fourth cousin (it’s weird to think of on change yourself as just someone’s random second cousin); and to Telia, you’re no grand patriarch or matriarch—you’re an unbelievably random tiny stick figure high up on her Ancestor Cone and you’re fuzzy because Tim can’t figure out how to export high-resolution images from Pixelmator even though he tried a bunch of different things: Most of those people on the top line are alive today, and you have no idea who’s standing there on write good essay education, Telia’s top line with you—that guy who works at the coffee shop might be her great-great-great-great-great-grandparent too, the two of you just two of her hundreds of nameless, forgotten ancient ancestors. Now I feel special and important and also I feel irrelevant and meaningless. Writing this post has really hammered home the point that humans are mainly a temporary container for their genes. In 150 years, all 7,100,000,000 people alive today will be dead, but all of essays management our genes will be doing just fine, living in other people. After the pride and prejudice reputation first conclusion point, I was teetering on whether to essays on change management nhs, feel good or bad about all of this.
Then, I depressed the shit out of myself with the second point. Covering Letters. But to throw my moping ego a bone, I’ll consider an interesting idea, that my descendants might not need to essays management in the, ask their Nana questions to learn about my life and get to know me a bit—technology changes everything. In 100 years, my great-great-grandson might be able to easily pull up all kinds of info/photos/videos and learn whatever he wants to, which I’m sure will be nothing because the last thing he’ll be thinking about is what his great-great-grandfather was like. Dammit. In any case, for now, there’s really only one good way to learn about where you came from—so start asking. If you’re into Wait But Why, sign up for the Wait But Why email list and we’ll send you the covering new posts right when they come out. That’s the only thing we use the list for and it’s the best way to stay up-to-date with WBW posts. Other WBW Posts That Put Your Life in Perspective:
Explanation of the Cousin Calculation Formula. —where n is the average number of children being had by essays management in the a family and how to better place, d is the degree of management nhs cousin you want to find the total number of. It boils down to education, a simple multiplication of the number of top-level siblings [(n-1) 2 d ] times the number of “eventual offspring on essays in the, your generation level” each of those top-level siblings ultimately produces (n d ). For a first cousin, the “top-level” is one’s parents’ generation because that’s the generation where we move “sideways” in the family tree before heading “down” to the first cousins. Write Good Education. In this example, the number of “top-level siblings” is the essays on change management nhs number of blood-related aunts and uncles one has, or the number of combined siblings of the world better essay one’s parents.
We get that number by multiplying the total number of essays nhs children in an average family minus one (that will get us the number of siblings since subtracting the baressays com coupon code one removes the in the parent) times the number of our top-level ancestors we need siblings for (in this case, two, since there are two parents). Pride And Prejudice. So for a first cousin calculation, the number of top-level siblings if the average family has three children (n = 3) is (3 – 1) * 2 1 , or two siblings times two parents, equals four top-level siblings. The second part is figuring out how many eventual first cousins each top-level sibling will produce. Since we’re using an average number of essays nhs children in a family, culture, or nation as a constant n , we just need to multiply each top-level sibling by n to get their number of the world better essay children. Since their children will have the essays in the nhs same number of children n , to go down two generations we would multiply the top-level siblings by n 2 —this can be simplified as n d . Baressays Com Coupon Code. For first cousins, we’d just need to multiply by n once because we’re just going down one generation. So to get the management in the number of baressays com coupon code first cousins in a family that always has three kids, d=1 and management in the nhs, n=3, and the world place, (n-1) 2 d n d comes out to 4 x 3 = 12. This is correct because your parents have four combined siblings and each has three kids. To find the number of on change management in the nhs third cousins someone has if everyone has two kids, we make n=2 and d=3. Here, the thesis top-level siblings are on the great-grandparent level, because it’s their siblings whose great-grandkids are your third cousins—it’s on the great-grandparent level that we move sideways and then down to essays management in the nhs, get to our third cousins. So the number of write great-grandparent siblings here is (n-1) 2 d = (2-1) 2 3 = 8. This makes sense because you have eight great-grandparents and essays management nhs, each one has one sibling (since in this example everyone has two kids, or one sibling). Each great-grandparent has n d = 2 3 = 8 great-grandchildren (since we’re moving four generations down and having two kids at essay each step), so the total number of third cousins in this example is on change in the nhs 8 x 8 = 64.
John E. Pattison (2007), Estimating Inbreeding in Large Semi-isolated Populations: Effects of Varying Generation Length and of Migration, American Journal of effects on family Human Biology 19 (4):495-510. Neuralink and the Brain’s Magical Future. Everything You Should Know About Sound. Wow! This is why I love this blog! … and not really sure what to do with that. Except pull out essays on change management nhs that geneology book my mother lent me and then go pepper my grandparents with questions for better place essay, a couple of essays in the nhs days. That sounds like a plan.
This is the best fucking blog ever. No one else comes close. The math is good correct and elegantly explained. Thanks for calculating and showing how you got it! Every week this blog crushes.
Don’t you ever wait until Wednesday to post something again. I couldn’t sleep last night knowing I hadn’t had my fix. Thank you! I feel like I really needed someone to explain this to me. Mind blown. #128578; Thanks for posting this stuff… I actually have tried documenting stuff like this for others. Only problem I have with the calculations was that second cousin numbers are based upon current birth rate, not that at the time of the great-grandparents.
Great point. “n” should have its own formula that integrates previous rates. Love when your post arrives in on change management in the, my inbox and write good education, it’s proof that not everything has to be between 250 and essays management nhs, 500 words. I love the how to make the world place way you shift the in the nhs perspective. Growing up I had the privilege of spending a lot of time with not just both sets of grandparents but being babysat and spending quality time with great grandparents as well. Lozano. Perhaps it’s the essays on change management writer in me, but I spent most of lozano my time with them listening to family stories. On Change Management Nhs. They all loved a willing audience and covering letters for jobs, once you got them started there was an endless supply of fascinating tidbits about aunts and uncles, great aunts and essays on change management nhs, uncles, great great grandparents, and code, of course my mom and dad. On Change Management In The. Best times I ever spent in my life were listening to them. I think part of the covering letters problem is for many people, the quality years they get to spend with their grandparents are in their first 15 or 20 years, and people that age are typically just less interested in learning about stuff like their ancestors and essays on change nhs, less aware of how precious and write good essay education, fleeting the time they get to on change management in the nhs, spend with grandparents is. And the 25 or 35 or 45-year-old in them that would love to hear grandparent stories often no longer has the chance to.
And now I’ve completely forgotten why I opened my internet browser in make better essay, the first place. How cool is that there are actual people in Latvia reading your blog? Like myself. Very cool. Apparently my great-grandmother who immigrated was from a place called Talsin? Or something like that. It’s on in the, the list to baressays com coupon, visit. Very impressive on the math side of things; I’ll have to think about the on change in the nhs equation, my brain’s frazzled at paulo the moment. Two immediate thoughts though: 1) This could easily have been split into a “To be continued…” with more to come next week. If that helps alleviate some of the panic mindset.
2) Adoption. Essays On Change Management In The. Genes are definitely one thing, but I dare say how you are raised has some influence on things down the letters line. It’s also another confounding variable, because while there must BE an actual mother (who died in childbirth?) tracing back, the awareness of who’s a cousin of who can get murky. Thinking a bit of the movie “Philomena”. …But then I’ve never understood anything beyond being a first cousin. My regards to your Nana, may you have more conversations. 1) I did that once (with the procrastination posts), but I kind of essays don’t like doing it cause when you post only once a week, that one post ends up taking up a half a month. 2) Interesting. The big family tree is still real and full and accurate, but it’s true that a number of the people on it may have never met the parents above them or been raised by them. Won’t Harry’s future sons be nephews of baressays a King William? Still, all the other factoids by generation of their lives will be on track.
Yeah, but not of his son, King George. Great post, so thoroughly researched and thoughtfully presented. It really is mind blowing stuff. p.s. is Tim spending too much time in the Dark Playground ? I am definitely procrastinating by writing this post, but I expect some of management nhs you may find it very relevant. Re “The Present: Your Living Relatives” – as you (Tim) probably know, there are over-the-counter DNA tests that allow you to test whether you share DNA with (= are related to) other people in the testing company’s database. 23andMe is telling me I’m related to of alcoholism essay, over a thousand people that have tested with them. Essays On Change Nhs. (FTDNA’s Family Finder test is similar to 23andMe’s, but 23andMe is code preferred because FTDNA’s procedure for on change management in the nhs, finding matches on the X chromosome is lame, and this special case of matching is important.) The companies attempt to predict your relationship to a given person with matching DNA, based on the number and size of DNA segments you share with your match. Code. Here is a paper that describes the basis for this comparison: “Cryptic Distant Relatives Are Common”
Interestingly, MOST of your living relatives share no detectable DNA with you. Essays Management. (The “detectable” DNA thresholds are based on the statistical limitations of the microarray SNP test used, as well as the endogamy of the population — the following comments apply to a “typical” American/English population but not to, for letters, example, Ashkenazim.) Chances are, any two specific people who are 5th cousins or more distant will not share detectable DNA: On the on change management other hand, you have SO many living relatives who are 5th cousins or greater, there are still TONS of random distant relatives that you do share DNA with. You can contact them all, at least the ones that have already been tested, and say “Hi.” An interesting question, “How much of your genome do you inherit from com coupon a particular ancestor?” is addressed here: Two related posts are. Man oh man was this good. I really never read long articles, I just don’t have the patience or time or discipline.
And that rule goes right out the window with Wait But Why. In The. This was a pure pleasure to read; fascinating, educational, funny, visual. Like a great class. I was also on baressays, the floor laughing when you opened up about your personal troubles in the middle of a paragraph towards the end. Essays On Change Management. Definitely gonna send this one around to everyone I know. Does the ancestor cone and pedigree collapse go back to Adam and Eve, you think? Depends on what you believe. It will go back to “Y-chromosomal Adam”, your great^14000 grandfather, a “disgusting, highly unpleasant man who probably raped people”. #128578; Great, great, great stuff, Tim. Wait But Why never disappoints. Consistently the best thing on the Internet.
hahaha this was the perfect medicine for my petty high-school-dance-I-asked-him-but-does-he-like-me-back woes. Of Alcoholism On Family Essay. Sometimes we all just need a little reality check of our own insignificance. Thanks for on change in the nhs, that, seriously. I love this. I just asked my dad and mom if they would do video stories, they said yes and with documents (immigration and good education, photos). Management Nhs. I just learned that my great grandpa was the teacher for the Last Emporer of China. I would have never known.
I look forward to using my HandyCam to document my parents telling stories. Thank you for reputation essay, this great post. That’s pretty rad. The last emperor was a little troubled boy. Your drawings are so fun to look at. Management. So colorful. Pride Reputation Essay. They make their points so clearly. I’ve read every post on Wait But Why and this is the essays nhs first time I’ve commented.
not read it yet. Will do after this reply. Pride And Prejudice Reputation Essay. But what does tuesday mean for Dutch time, GMT+1? At what time in the Netherlands is your tuesday finished? Or, where do you live so I can calculate it myself. Your brain is protecting you Tim: if you started each post knowing how EPIC and UNSTOPPABLE it was going to become, you’d never start.
Thank you for on change management, a great read and for making my brain hurt, again. “Walking, I am listening to a deeper way. Suddenly all my ancestors are behind me. Be still, they say. Watch and listen. Pride And Prejudice Reputation. You are the on change management in the nhs result of the love of thousands.” Linda Hogan (b.1947) Native American writer. Beautiful!
Thanks for baressays, sharing. Great work Tim! Another awesome post! I love how you ruin an article by essays nhs “dicking around” early on. Lost me right there. For some reason, this post took me to a sad place: those of us who had relatives die in the Holocaust or other genocide event have way fewer possible cousins out there. Great article about a lot of the same stuff in The New Yorker, back in 1985 (subscription required to read online): My grandfathers’ mind is narrowed down so much that he’s not really capable of ‘meeting new people’ anymore, and how to make the world place essay, since I only saw him once a year on crowded familygatherings I would be ‘a new people’. Too bad, since I finally collected the courage to start visiting him and ask about his EPIC warstories. (once a jewish woman living in US sent me a message on facebook if I knew a family with my last name where she went into hiding during WW2 (afterwards she went to america). Essays On Change In The Nhs. Turned out she hided at a family that was friends with my grandfather). My mothers parents are still alive and smart though.
But get so much attention of their six children that i’m still very scared that they wouldn’t appreciate my company and and prejudice reputation essay, would be too polite to say so. Essays In The Nhs. And I would be afraid too ask questions since I know my grandfather saw his father get shot by the Germans and my grandmother doesn’t really have a nice past as well. Maybe I should start being less of a pussy. Anyway: for procrastinators tuesday ends before office-hours on wednesday (when it goes for good, turning in on change management nhs, schoolassignments it goes for turning in blogs as well), you studied at harvard, so probably live near it. Baressays Com Coupon Code. NY time is gmt-5. I’ll check this blog at essays 8 + 6 = 14:00 on wednesdays Dutch time. Thank you! I am a grandmother, GO ask your grandparents. I will tell you a secret of a grandparent.
THEY LOVE THEIR GRANDCHILDREN, even if they do not get to see them very often. THEY long for you to come and see them. I know firsthand. Paulo Lozano Thesis. I have a teenaged grandson I do not get to see very much anymore, because he is a teenager and doing teenage things, which I am happy he is on change doing, but I miss him. Go see them, and give them each a hug and a kiss on the cheek. You will not regret it. Hm. But would you feel the write essay education same when you had tons of teenage grandsons? (still, I will take your advice, thanx #128578;
Ur a genius…u plug up d holes n spaces in my lyf. i heard you’re ideas and their definitely good. I believe that the rules of succession to the throne of the essays on change nhs UK have changed: now the oldest child of the current monarch, of how to make the world essay any gender, is on change management nhs first in make better place essay, line. I think. Whoa! This whole post totally blows my mind! And I have been doing genealogy for over 40 years! I love the perspective of looking at essays on change nhs my descendants and realizing that I could be neighbors with THEIR ancestors and never know it! It gives the letters for jobs term “family of essays on change management in the nhs man” new meaning.
Gail at seezooeyrun.wordpress.com. Thank you for this entertaining and enlightening post. Pride Reputation. Just a side note: not all languages count cousins the same way as English. On Change Management. In Russian a cousin is a brother or sister once removed, but the “once removed” part is baressays com coupon code often left out. Management In The Nhs. In Icelandic fr?ndi (male) and fr?nka (female) mean any close relative that’s not a brother, father or a son, i.e. there’s no difference between a cousin, an uncle or a nephew.
Not really. The “once removed” thing here means a generation apart, and in good essay, Russian first cousins are “cousins”, or “second brothers/sisters”, and they are of the same generation. Second cousins are “third brothers/sisters”, and essays in the nhs, so on. Totally awesome post, which I appreciate as an amateur geologist and a science teacher. I enjoy the concept that I am the make the world place essay result of so many serendipitous event such as crop choices, and perhaps “the pretty girl wore a bone necklace at the tribal gathering that day.” The statement that 80% of essays all marriages in history were second cousins or closer seems realistic.
At an event for the recovery of the endangered whooping crane, a geneticist from the Smithsonian told us not to fret too much about mutations in a population that has a small gene pool. He said the effects of alcoholism royal family of India (if I remember correctly) had been interbreeding for 2000 years. His comment was basically that “inbreeding will weed out the harmful mutations if you keep at it long enough”. It got a big laugh, but I would love to hear more data. I’ve been working n family tree or about 17 yrs. Now.. And one thing hat I t infused with is the essays on change management in the nhs difference between.
First,second third cousins etc, and cousins removed? What are they being removed from? Eel like I’m being disowned…lol. I am going to paulo lozano, use this in essays management in the, my Science class in a few months. Letters. I have been looking for material to augment a lesson on population growth and it is great. I will also check your math because that’s what I do, but I expect it will be fine. now I feel sick because most/all the shitty people I’ve met in the real life are probably my not-so-distant relatives. it’s like knowing that your are related to essays nhs, tape worms *reads some of the older articles* well poop. My father know all the family history going back a hundred and covering letters, fifty years and who his second, third, fourth and even fifth cousins were because he grew up in an Irish village when knowing such things were important. But we never sat him down and recorded it.
I have regretted it every day since he died. On Change Management Nhs. So ask your now before it is too late. when i was in eighth grade, we had to how to the world better place essay, do a social studies “culture” project where we recorded our family history. i interviewed my great-grandmother only months before she died and nhs, got a recording of her singing a cajun song and clapping, laughing and speaking in cajun french. the only issue with this is the baressays most accessible recording technology for an eighth grader in louisiana in 1995 was cassette tape. so, now i have 4 cassettes of family members telling stories and who owns a cassette player anymore? If you have access to Amazon.com (online), you can get one there, or at Radio Shack – but don’t wait too long, they (RS) filed for bankruptcy. Essays Management. Also, Goodwill or a thrift shop of any kind – or flea market – will do better, as the paulo funds go to better use usually.
I wish thee great luck ! #128578; I’m a relatively new reader to Waitbutwhy but this is essays on change management why I love your writing. I get so absorbed. Awesome blog! Fantastic. one should have both time and patience to grasp this lovely article.
G’Day! I live in (almost) ‘outback Australia’ and after reading this article, I am probably related to everyone who has replied! Amazing read. Thanks for essay, this. It’s absolutely fascinating! And to on change nhs, think I only signed up to follow your blog because of some amusing cat pictures. #128578; Is there any way to of alcoholism essay, account for unknown pedigree collapse? It would seem that were I to marry someone inside my ethnicity there would be at least some overlap in on change management nhs, pedigree, even if we are 15th cousins. Wow, that’s amazing. Make Better. Ouch, my brain hurts. Math sucks, I hate you.
I shared this particular post with my Grade 9 class. We are studying genetics at the moment. They absolutely loved it! Greetings from Brazil! Along with TIm Ferriss, your blog is the one and only amazing reads of the week! Keep doing the great job!
My brain just exploded- augh! This was fascinating!! I do have one question about the math though… I understand how the family tree is narrower at the top because of the essays in the nhs cousin marriages, but if the 80% of all marriages are cousins, wouldn’t that stay somewhat consistent over baressays com coupon code, a number of essays on change management in the nhs generations, preventing the widening of the family tree in the middle? Nerdy question, I know, but thats where my brain went. Essay Education. #128578; An interesting snippet about the British royal family is that Prince Philip, the Queen’s husband, is in line to the throne.
So an extended set of assassinations and accidents could result in him inheriting the throne from his grandson. On Change. However he is about position 600, and covering, he is in his nineties, which means it’s a bit late for him to do anything much if he did become king. I enjoy thinking about the management nhs fact that we think technology will allow people of the future to see all this information we are creating, and yet to somebody 4000 years from now will they have any idea what a CD or hard disk drive contains? Imagine knowing nothing about CDs, and trying to decipher what they were used for. They are shiny, have colorful pictures and make better essay, text on them, and some patterns. Artwork?
Decorations? Money? Signs of personal affluence? And how many items that we currently find from on change management in the nhs 4000 years ago do we make those same assumptions because they are shiny, have colorful pictures and text, and com coupon, some patterns… This is by far your best article, loved it! Great work!! Maybe this is a silly question, but you don’t seem to factor in historical events like the major wars, and the Black Death of management in the medieval times, which took out a sizeable chunk of the earth’s population — wouldn’t this have left some noticeable gaps in the ranks of those enormous numbers in pride reputation, your charts? You are mentally sick and i love you man:) What about all the wars, and nhs, things like the Black Death (plague) during medieval times, in which about a quarter of the earth’s population at the time died? Wouldn’t that make a difference to some of and prejudice reputation those huge numbers in the charts?
OOps, sorry, I forgot I’d already left a comment. Just ignore the essays on change in the second one. It was all so so interesting when I was the center of attention. Com Coupon Code. Then you throw the last graphic up there and essays on change, just blow my mind. I mean literally. Mind. Blown. And by literally I mean the new definition of the word, not the literal definition of the word. I was just remarking to write essay education, my boss the other day how sad it is essays on change management nhs that most people have no clue about who their relatives were just 120 years ago.
So, I loved this post because it gives my world some context, if not names and covering for jobs, faces. I’m a 51-year old adult adoptee, married with 3 step-daughters (whom I love dearly) and my first biological child on the way. So, it’s pretty cool to in the nhs, see that I’ve now got a chance to “cone” in the genetic sense too. But it begs the effects of alcoholism on family question: if we can now conceive that we’re all real-as-shit cousins, why the hell do we continue to essays on change in the, hurt each other? (Yes, I know, you always hurt the ones you love. But seriously.) You’d think that may be Putin or Kim Jong-whatever (or even Dick Cheney) might say, “Oh wait, hold up. That’s my cuz.” But no.
Why not though? Are we simply just a bunch of genetically violent bastards who killed and ate all the write good education Neanderthals and, hey, when famine hits one day, you’re next? Or what? There’s a post I’d like to read. Fit a loada pish. I acnn trace my family tree backs to viking days without payin this lot. Two thoughts on the comments above. Don’t worry too much about being related distantly to unpleasant neighbours. I only had to go back 3 generations in my family to discover an ancestor who would have been imprisoned for many years in management nhs, modern times for his cruelty and paulo, criminality. On Change In The. You need to worry about your own family maybe more than your neighbours.
I had my DNA sampled a few years back in an effort to link to a well-researched family with the com coupon same surname because I’d hit a brick wall. It failed. We weren’t related. Later I discovered so many examples of births out of wedlock that I started to consider how much we really know about our ancestors. For example was the man I thought of as our grandfather actually the father of my father? if the answer for essays on change, whatever reason is “no” it doesn’t change the maths but it sure as hell changes the things you thought you may have inherited from the grandfather you you knew. Maybe that’s why my DNA search was negative…I was looking under the wrong name! Great post I really enjoyed it. My mother has often told me about her family being thrown out off the house while she was still sitting on lozano thesis, the toilet, and they were banging on the toilet door.
In The Netherlands people employed by some farmer lived in essays on change management in the nhs, one of the make the world better essay small houses on essays on change, the land of covering for jobs that farmer, so when the farmer fired the man in the family (in my grandparent’s case, because the essays on change management nhs government had decided on a 5-day week, so my uncles wanted a 5-day week, as they were allowed by of alcoholism law, but the farmer didn’t want to give it to them_ the whole family was thrown out of their house. It was post WWII, and new houses were being build, so my mother and her parents and siblings had to stay for a while in a large public building until a house was finished and they were alowed to live there. My grandfather and his sons started working in the city in construction, ‘cos there was a lot of essays on change work in construction just after WWII. Baressays Com Coupon Code. Still, my father had to sue his former employer to get at least part of the money he was owed for all those years of work for that farmer. Not everyone’s DNA will still be rolling along in on change nhs, three centuries. We are wiping out small pockets of indigenous, traditional people and cultures at covering for jobs an alarming rate. They are probably repositories of some of the essays management in the greatest genetic diversity on the planet due to their isolation and lack of cross-breeding with the letters for jobs rest of us in the developed or developing world. Some have unique adaptations to climate, disease, and in the, other conditions.
Besides their inherent right to and prejudice reputation, exist and essays, maintain their way of effects essay life, we should also consider protecting them to protect the resilience of the essays management nhs human gene pool. There was a girl with the same last name in the same year in my high school, and my parents had no idea who she was (as far as my dad knew, both his parents came over and prejudice reputation essay, from Italy by themselves without others in the family). However, there are probably thousands of people with my last name in Italy, so there is no doubt we are related on management nhs, some scale and baressays, just had relatives come over to essays on change management in the, the US at thesis different times, and coincidentally ended up living in a similar area and going to the same high school at on change in the the same time. Make Better. Very weird to think about. I find asking a specific question then standing back and listening brings the best results.
One really interesting question I suggest everyone asks their parents and grandparents is: how did you meet your partner? Until modern times, most met someone from the same or the next village; since WW1 my family have travelled and been finding partners from other communities; also occupations suddenly changed from generations of farming to almost anything. Did you factor in the probable fact that even though there are two parents for essays on change management nhs, every person, due to the primitive proclivities of men past and present, one father may have scores of offspring who have no idea that the reason they have so much in common is that they are half siblings. This will collapse the tree somewhat. I stumbled on baressays com coupon, your website accidentally. After reading first article I am hooked to your website. I am going through your all old articles one by one. This post reminds me a billboard signs I saw which says something like “If we go back far enough all of us are related” this whole topic was an obsession when i was a kid. the millions of great great great…great grandparents. the obvious cross pollination that had to essays management, happen and essay education, the realization that we are all cousins. love the way you dissected and essays in the nhs, graphed it. thank you. This article confirms what I’ve always sensed.
Unless you’re Samuel Clemens (or any brilliant person. who’s genius is recognized and acknowledged), you’re forgotten in a few generations. Baressays Com Coupon Code. Doesn’t matter how many kids you have. Lol i could say i literally lived this post…i went back to italy last year in on change in the, search of my ancestors and make place essay, ended up hooking up with my mom’s third cousin (who’s about my age because his grandmother – my greatgrandfather’s first cousin – gave birth to his mom at management about 45). We’re still together and as happy as can be, it makes xmas and effects of alcoholism on family essay, birthdays commitments so much easier! However, we are now at essays on change nhs a turning point. Write Essay. In previous ancestry, all genes were passed via sex and random mutations. Going forward, we will manufacture genes that never existed, and incorporate them into on change management our family trees.
Should be interesting!! in-Corporate is definitely the right word for it… So…. How many years later will I have my genes in letters, the entire human race? You already do, except it’s backwards. All life shares the same common ancestor and therefore components of that ancestor’s genes, if you go back far enough. You share about 99.99% of your genes with all other humans. You also share about 50% of your genes with bananas. I guess if you are Genghis Khan, you already spermed the management in the whole asian population with your DNA. But then again, you are Jack Liu,
What about ethnicity. Would the baressays formula change? I’m Asian I heard that Genghis Khan fucked everyone he could. So the cone should look a bit different as it transcends downwards. Probably like 1 blue stick man at on change management in the nhs the top all the reds representing the women he violated during his drunken stupor after each victorious conquest.. then the following generation would also be a tangled mess of web, if he still managed to thesis, get it on.. Excellent point.
Amazing how many die without children and equally amazing the psychotic lengths some megalomaniacs go to in order to satiate their appetites. Not to on change management in the, speak ill of anybody’s ancestors… Not entirely true. The Genghis haplogroup was shared between Genghis and many others in his clan…perhaps hundreds. How To The World Place. That means the Mongols as a group simply had to have many matings with women of those they conquered. And I think it’s still only about 12% of the Asian population with that haplogroup. Awesome article. Thank you!
Just incredible! thank you so much! I might have to share this like a hundred thoughsand times! LOL. The other interesting factoid, though, is how mitochondria and the Y chromosome meander through that mix of ancestors. ONE male of those 4096 people in essays in the nhs, the 1600s had my y chromosome, and ONE female had my mitochondrial DNA.
I wonder who? Excellent point. I think in covering, our haste to essays on change management, rend the standing patriarchy we have neglected the obvious fact that patriarchal and matriarchal direct lineage is good education a major determiner of who we are and the order of society past, present, and future. As DNA testing expands and more unique markers are identified against solid genealogical research the essays management in the nhs truth will out as it were. Interesting article about this subject in the May 2002 issue of The Atlantic: I only lozano thesis have one correction–20 years is considered one generation, not 25-30.
It’s only been in very recent times that people wait that long to have children. For the essays on change nhs vast majority of effects on family essay human existence women had children soon after puberty, for the simple reason that the average life expectancy was only about 40-50 years. Which makes the stats even more mind blowing! In natural societies puberty comes later, maybe around 18, then women have children ’til they die, around age 35 or so in childbirth. So 25 is a reasonable average generation.
Me and my siblings cover a ten year spread, but our average generation would be in the middle. This great post reminded me of an image I got a while ago. It is imagining that I held hand with my father as he was my age, and he held HIS father at that age, and so on. If a generation is, say 25 years, and it’s been 100.000 years since humans emigrated from essays in the nhs Africa, the line of generations would be less than 4 kilometers long. I got to wonder how that line would look? i guess pretty alike in the oldest end, and only a bit diverse in the newer end. Bu it amazed me that it is the world better place essay no longer than that. I hope I have gotten you startet with this, Tim. Love your blog, and can’t wait to see what you have got for us after your absence.
End would have been different if you had written the AI Article before that XD, nice Post. You mention pedigree collapse and ipso facto you ignore it. Take for nhs, example a small isolated village of about 3000 people. If you do that kind of maths, you expect it to collapse at the 12th generation. It is letters for jobs not like this. It depends on the consanguinity usual relationships. Siblings are not generally allowed to couple, but sometimes happens. First cousins are allowed to couple, but it is not well regarded, except for essays management in the, very small villages. And then, up to second cousins, everyone is effects allowed to couple with relatives. It can also happen that two siblings are of in the nhs different age enough that the childs of baressays code one sibling can couple the management grandchild of the other.
The point is that some people take several roles in paulo, your genealogy, many more when you get to 3rd grade. Essays Management. You may not notice it because you usually don’t look past your grandparents. This is happening all the time in every generation. So, for your grandparents you can have up to good essay, 4, sometimes 3 (3,99 likely, because siblings breeding is not so common). For your grand-grandparents you can have up to essays management in the, 8, but 6 or even 5 is possible.
Let’s say 6,5 (in a small village, cousins coupled is education common). For your grand grand grandparents you take the essays on change management nhs list of possible grandparents for your parents (6,5 each one), add it (13) and take off the couples that are made from people that existed before in that list (30%?). So, now, it can happen that you have 16 g-g-grandparents, but it is more likely to be 9. How To Make The World Better Place. For the next generation you have even more people in essays on change management nhs, your list that can share couples, so even if your 5th grade parents can theoretically be 32, they are more likely to be 9 again, the same number as your 4th grade parents. Eventually, every people in the village is going to be related to each one, but it doesn’t happen so fast as your exponential growth was implying. This for a small village. In a town or city you need several more generations to write good essay education, watch the collapse, but the maths are the same. PS: It is not so easy to be king related. Sorry, I mistook a number. If your parents are siblings, then you have only 2 grandparents, not 3. Charles Darwin married a first cousin.
So did Albert Einstein. Essays Management In The Nhs. First cousin marriages were NOT that uncommon nor were they only for royalty (someone else said). Perfectly acceptable until recently. And still going on, just not done openly. I found this out letters when researching ancestors in the US who married first cousins in the mid 1700’s. Also not that uncommon among those who came over on the Mayflower and their descendants. Your urge to management, question your last remaining grandparent reminded me of a wonderful quote, said to effects of alcoholism essay, be an old African proverb, “When an old man [or in management in the nhs, your and many of our cases, an old woman] dies, a library burns to the ground.” Note that in genealogy circles, the terms grandaunt and good, granduncle have. been adopted for the titles of your grandparents’ siblings instead of. starting right out with great. That way, the essays in the nhs number of great’s tells.
you the generation without an offset based on direct or indirect. I just can’t believe how mistaken this article is in assuming that somewhere in for jobs, the 1200, all of the on change management in the nhs human population had something to do with you. First of all, transports were not developed. If you lived in Asia, 99% of for jobs your ancestors are Asian and on change management, you have very VERY little chance of having African or westerner ancestors. Same goes for any continent (except those where people migrated to, like the US).
In Europe, there are many many regions where EVERYONE’s ancestors have always been from the world better place this particular region, even if it’s been invaded by armies who may have raped women, the highest likelyhood is that women carried children of men from their region (+ a soldier wouldn’t travel millions of miles in a lifetime either). Also, if your dad’s 2 brothers married your mom’s 2 sister and you marry one of your cousins, your children marry one of the other cousins (as you said yourself, this was often the case with forced marriages), your children’s chidren will ALL only essays have 4 great great grand parents , Instead of 16 as you assumed it.. So your theory of having millions of ancestors in the 12th century is and prejudice reputation completely inadequate, there are millions, maybe billions of people who have no other common blood with each other than when cavemen tribes split up hundreds of thousands of years ago. Please study a little bit about the movements of populations throughout history before writing such non-sense assuming that genealogy is management mathematic.. Looking at baressays com coupon the history of the British royals odds-on one of Harry’s grand-children might end up married to the monarch… (more recent events suggest this is rather less likely)
Now I completely understand this thing called “genealogy”. And from this excellent dissertation I draw 2 conclusions: (1) Sex is hereditary, and (2) If your parents didn’t have kids, chances are you won’t either. Interesting stuff. My mom simply wrote a life book when she was around 80 with my sister’s help. It went back to her beginning in 1920.
Her grandchildren read it at her bedside as she died. I knew dad and his parents pretty well and much of their history. Here is essays on change management nhs a pretty amazing fact — I knew my grandparents well and grandpa was born in 1890. I hope to and prejudice essay, know my grandson fairly well. Essays On Change. One of my current sons is 7 years old. If he has a child at age 31 and education, that child lives until age 100, that means I will have known well people who lived from 1890 to 2140 a span of 250 years. I consider that my knowing people span. At our current rate of change that essentially covers 99.9% of all we will have learned as humans.
Here is a more amazing fact — There are at least 8 known people alive today whose fathers not only essays management in the lived during the paulo civil war but fought during the civil war. How amazing is that. The math is on change nhs pretty basic. They fought at age 16 in pride, 1865. They fathered children in 1935 at age 70. Their children are now 80. (actually they are older and the numbers are not exact) There are 100s if not 10s of essays in the thousands of people alive today whose fathers were alive during the baressays code civil war. One thing you neglected on you numbers was to figure in for people whose great grandfather was also their father. Essays Nhs. This is actually a pretty common historical deal for the same reasons you mentioned that people don’t like to travel far. So a man has a child (often dozens of children with 10 wives) his children have children, they have children and essay, then as a 70 year old man he ends up fathering a child with his great granddaughter. Not that uncommon. On Change In The Nhs. Don’t forget that first cousins were and still are very common.
In breeding is the primary reason that breeds develop specific looks, characteristics genetic issues. Why did you have to repost this now? My grandma died last month, you asshole. Now I can’t ask her anything. Nah just kidding, she had dementia anyway. I wonder if there would be some way to change the average sibling size between generations for the formula? For example I know almost all of and prejudice essay my grandparent’s generation has an average of 1.2 siblings (about) but my mothers generation has an average of 2+ for sure. Anyway interesting post, and though I do know a bunch of my second and third cousins, its cool to think about how many I dont know. One word of comment about pedigree collapse. It doesn’t have to involve first cousins or even second cousins.
First and second cousin marriages would have been rare, primarily occurring between nobility, but incest was forbidden since ancient times. If it’s common to marry third cousins (who might not even know they’re familty!) still reduce the number of grandparents. It’s easily possible to trace lineage of on change in the nhs a person to maybe just 100 people in baressays code, the great^10 granparent level, possible if they lived in a relatively peaceful country, and their heredity would not include any marriage between first or second cousins. Yes, that was my point, though I allowed first cousins couples to see how it collapses faster. I am mildly interested in the actual maths involved. In my years working as a nurse I’ve felt incredibly privileged with the life stories I’ve heard. I often encouraged people (especially the essays management in the elderly), to record their stories for paulo lozano, future generations. I’m grateful my father did this but sadly was adding more detail, when he died suddenly. In The Nhs. Through him, I discovered I was related to the Captain of the letters for jobs Titanic..tho that’s probably not something to essays on change in the nhs, boast about. And Prejudice Reputation. LOL. i’m not sure how much cross-over audience this site has with The Flash tv show, but essentially they made a direct correlation between a character and one of his 128 great great great grandparents. Essays On Change Management. i didn’t buy what they were selling, because of this article.
We only have 32 great-great-great grandparents each. We have 128 5x great grandparents. In my part of the US throw in the late 1800’s polygamy issue for a small section of southern Utah/Nevada and you have a hell of mess figuring out who belongs to who. Richard Dawkins in the references, boo ya. If you think about it a little, its sad to think about the how to better essay chances that a distant cousin has killed his greatest cousin who decided to text and drive. The formula seems to essays nhs, be incorrect. With the given example of effects on family essay 2 kids per family and counting for 3rd cousins (n=2, d=3) writing it out and counting the number of 3rd cousins will yield 16 (see image) instead of the on change predicted 64.
I propose a different formula: 2 (n-1) n^d. Let’s break it down. 2: You have 2 sides of code your family, one from essays on change management each parent, so you need only for jobs count the cousins from one side then double it to get your final count. n-1: You need to exclude “your side” of the tree that falls too close to on change management in the, the degree you’re computing for, e.g. counting 1st cousins and assuming 2 kids per and prejudice essay family, your grandpa has 2 kids (one of them is your dad) and on change management in the nhs, both of them have 2 kids each but you’re only interested in pride and prejudice reputation, counting the kids of essays management in the nhs your uncle so you deduct your dad at the start (2 kids aka dad and letters, uncle -1 dad). Another example, counting 2nd cousins and assuming 3 kids per family, you’ll want to exclude your grandpa from the count of kids in his family (3 kids -1 grandpa) so that you won’t include your 1st cousins (kids of your 2 uncles) or yourself and your 2 other siblings. This is the on change in the same as with the original formula. n^d: The number of eventual kids of your generation.
If there are 2 kids per family and you’re looking at the first cousins, that’s 2^1. Paulo. 2 kids per family, second cousins, 2^2. Again, this is the same as with the original formula. So with the essays management nhs formula above, if you’re counting 3rd cousins with 2 kids per family you get: The “random post” button brought me to this post 4 times in a row. I am tempted to try pressing the button one more time, but I don’t know how many times I can play with the balance of the universe.
Maybe I should just accept the fate that some power in good essay education, the universe really wants me to read this article (again).
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Implementing change in the NHS …
adventure essay Adventure: An Essay on Pedro Costa. A Tracking Shot. A young man walks with broad steps down a sidewalk. From one of essays on change nhs, his hands hangs something in a black plastic bag. Pride And Prejudice. Some distance away, the camera closely follows from the management in the side his solitary stride.
While the man remains in the centre of the frame, the sound that reverberates behind the thesis images as they flow steadily to the right is not his footsteps but the roar of the cars’ engines that cross the screen now and on change nhs, then in the opposite direction. Make The World Place Essay. As shown clearly by the low but lively noise of the street, the camera is now exposed to the outside air. With a human form seen only here and on change nhs, there, the sidewalk is effects on family essay, uncrowded. Perhaps it is still early morning. The rays of light falling on the street are indeed still dull, and essays on change management nhs, the figure of the for jobs man does not stand out strongly from the background as he walks along, the walls of dingy houses on his left. Clearly this is not unfamiliar territory for him; he is moving straight ahead through a well-known landscape. He glances neither right nor left, and on change management, no one looks back in surprise at his intense manner of walking. The doors of the houses painted crimson and blue, and the window shutters and the graffiti on the walls, provide visual accents to the long wordless tracking shot. Baressays Code. Anyone who has seen this much of Ossos ( Bones , 1997), the third film by Pedro Costa, knows well who this ponytailed man is.
He is a poor unemployed youth who has just unexpectedly become a father, and he still has the air of a child. But the viewer does not understand immediately the meaning of his intense pace, because, as in many other cases, Pedro Costa’s editing satisfyingly avoids explanations of the preceding and following context. The viewer is drawn without an essays on change, intermediary into reputation, the long tracking shot passing before the eye and tries not to miss a moment. On Change Management In The. In fact, all of Pedro Costa’s shots have a vertical power that breaks the viewer free from the story’s linear cause and effect. The pleasure of exposure to that liberation has, ever since F W Murnau, been a privilege allowed only to film. As the on family moving camera stays aligned with the essays management in the walking man, a breathtaking suspense builds. This suspense is not anticipation that an unknown situation may arise; rather, it forms around the question of how long the certainty that nothing is likely to happen can be maintained. The viewer worries how long this scene will continue and has no choice but to keep staring at the screen so as not to be abandoned by the flow of the film. In his solitary stride, the man appears both to be fleeing from how to make the world essay something and to be hurrying somewhere. At one point, his pace seems to management in the falter slightly.
But his jeans-clad legs continue their broad, unhesitating motions. Only the movements of his arms show any change: without halting his step, he lifts the black bag that he has been dangling from one hand and suddenly holds it to lozano thesis his chest with both arms. At this point, we suddenly comprehend what is wrapped up in the plastic bag. Embraced in the arms of the walking man is a small living thing. The manner in which his two arms hold the bag shows that the bag’s contents are not inanimate but alive. It must be a baby. The long-haired man who has just become a father has abducted his nursing baby from its mother and is now rushing away with it.
Although we cannot accept immediately whatever it was that has led him to do this, we are forced to the awareness that, just as Jean-Luc Godard’s À bout de souffle (1960) is a film about a car thief, Costa’s Ossos is on change in the, a film about a baby thief. I will not go into detail about how the story develops thereafter. It is enough that we are drawn into that long tracking shot that begins so suddenly and that we are shaken by its immense directorial power. Pride Reputation Essay. Watching any of essays on change management in the nhs, Pedro Costa’s films grabs hold of our gaze and write good, forces us to personally experience the motion of the film. At times his scenes sting our eyes with their piercing pain, and at times they wrap our eyes in ineffable tenderness. What is amazing for the viewer who witnesses the tracking shot in Ossos is how the motion that is first felt as pain is then, at the instant the young man embraces the black plastic bag, miraculously transformed into tenderness. At that moment, the viewer must confront two issues. The first is the function and meaning of tracking shots in the works of on change in the nhs, this director, and the second is the role of the tracking shot in this particular film. At the beginning of Ossos is covering letters for jobs, a series of fixed close-ups of the faces of men and women whose identity it is difficult to on change management in the nhs know at first and whose interrelations are hard to discern. But with the pride and prejudice reputation essay tracking shot the viewer is management in the, drawn into and disturbed by the horizontal motion of the camera.
The story that has been taking place in baressays narrow alleys and cramped rooms is suddenly flung out into the open air and exposed to natural light. What is the meaning of the change in texture introduced by this tracking shot? What is clear is management in the, that ever since his early film O Sangue ( The Blood , 1989), Pedro Costa’s camera has been moving less with each film, until No Quarto da Vanda ( In Vanda’s Room , 2000), which consists almost entirely of fixed shots. Although the only long tracking shot in Ossos is the one of the young man walking, we of course recall that a similar long tracking shot appeared in Costa’s previous film, Casa de Lava ( Down to Earth , 1995). The young nurse Mariana (Inês de Medeiros) has come to the volcanic island of Cape Verde with a black laborer who was knocked unconscious in an accident. When she leaves the hospital for the first time and sets out effects on family essay, alone for on change the centre of the island, the long tracking shot of her walking anticipates the similar scene in Ossos . Wearing only a shortish red dress, the young woman in Casa de Lava suddenly starts stepping lightly along the foreign road. Pride And Prejudice Essay. The long tracking shot of on change nhs, her unexpected walk, taken from the side, makes us pleasantly forget what the previous shot has been.
As she moves ahead silently while looking at the dirty walls of the islanders’ homes on her left, the make the world better camera flows to the right, keeping the nurse in the centre of the frame and never changing the shooting angle. Unlike the youth in Ossos , she carries nothing in her arms, which swing fluidly around her petite body, and essays on change in the nhs, her occasional glances to the left and right harmonise pleasantly with her motions as she tries to create a new relationship with this unfamiliar land. I do not need to point out that this long tracking shot is amazingly similar to paulo lozano thesis the one in Ossos . As she steps lightly through the intersections and keeps walking with no sign of stopping, her stride declares the pleasure of essays management nhs, absorbing this unfamiliar world with her entire body and moves the scene far beyond the facile cinematic tool of exoticism. In contrast to the shot of the young man walking with his arms around the black plastic bag, the long tracking shot in Casa de Lava is tender from the start. The young woman does not regard her unexpectedly intimate encounter with a foreign land even as an adventure. As the camera follows her from the side, the natural blending of letters, her unhesitating forward motion into the surrounding atmosphere and sunlight is essays management in the, captured on film, and what deserves to be called an adventure is the code extremely pure tension that fills the movie. On Change In The. Such is the power of Pedro Costa’s tracking shots.
Like Roberto Rossellini’s Stromboli, Terra di Dio (1950), Casa de Lava is an adventure film in the best sense of the word. Fiction and Documentary. Casa de Lava also begins with close-ups: the expressionless faces of women who live on the island. It is unclear what their eyes are seeing or what their blank faces are trying to say, for of alcoholism on family essay Pedro Costa rarely uses shots that connect the eyes, which are the origin of sight, to the objects captured by their gaze. These fixed shots of human faces, images that are gratuitous in the narrative sense, are suddenly interrupted by a moving camera shot, this time an aerial view taken from a camera looking down on volcanic rock. This shot is followed by on change management in the a distant tracking shot of two helicopter pilots carrying the unconscious patient on a stretcher and the young nurse walking with the clear container of intravenous fluid held up high. The brown sand blown up by the unseen blades of the helicopter and the desolate volcanic landscape stretching off into the background highlight the foreignness of the setting.
The pilots tell the nurse that it is her responsibility to take the stretcher to the hospital, and the camera reverses direction for another tracking shot of the nurse as she chases after them. After arguing with the nurse, the pilots go away, leaving the stretcher where it is. As the young woman stands on this unfamiliar land with the unconscious black patient lying on how to make the world place essay the stretcher, her profile shows an innocence unsuitable for essays nhs a person who is to take care of a patient who is on family, clearly sturdier than she is. Compared with the essays on change in the nhs calm caregiver in white portrayed by Isabel Ruth in Ossos , Inês de Medeiros is clearly helpless as she stands next to her patient. Nevertheless, she must get him to pride and prejudice reputation essay the island’s clinic by herself. This apparent imbalance is what drives her actions into a risky adventure on the volcanic island of Cape Verde. The next shot in Casa de Lava , the viewer recalls, shows the young nurse embracing a living thing just as the young man does in Ossos . After vibrating shots of the volcanic mountains taken from a moving vehicle, a backing shot is inserted of a dog running up along a gravel road, telling us again of the risky adventure that has begun for the young nurse.
As she rattles along in essays on change in the the back of the truck with the unconscious patient resting against her chest and his transparent intravenous container held as high as she can reach, her blank expression suggests neither bewilderment nor a strong sense of devotion to duty. Write Education. Her gestures reveal only an intense commitment to the present moment; despite her desperation, she shows no irritation, and essays nhs, her figure lit by the setting sun as she endures the uncomfortable shaking in com coupon code the truck is incredibly beautiful. The filming here includes no consideration of the aesthetic, but in this silent shot there is born a solitary, taciturn beauty of a person endeavoring to endure a situation wisely when offered no other choice. As she embraces the head of the unconscious stranger, behind her stretches arid scenery that must be foreign to her. But she never allows her gaze to shift. In the essays management in the nhs back of the baressays com coupon truck, exposed and essays management in the, defenseless against the outside air, the only thing heard is the dull sound of the baressays engine. It is late afternoon, and the sinking sun shines on the intravenous container as the nurse consciously tries to keep from lowering it. She has no time to look at the rays of the on change management in the nhs dull afternoon sun shining through the transparent container as she is carried wordlessly to the island’s clinic. Code. While this shaking fixed shot in the back of the truck is not as long as the tracking shot along the sidewalk in Ossos , it is powerful enough to essays on change management liberate the baressays com coupon code viewer from the cause and effect of the narrative. Though not understanding the origin of essays management in the, this power that inserts itself vertically into the movie, we can only mutter ‘splendid’ at the sweet pain inflicted by covering letters for jobs the film’s alignment with the on change in the present moment as it progresses across the screen.
The Present Moment Made Absolute. Costa’s sequence of paulo, shots does not attempt to tell when or how the young nurse went from standing in that desolate alien landscape next to on change nhs the sick man on the stretcher with the covering intravenous container hanging from a nearby tree branch to riding in the back of the truck. But the viewer acknowledges the young nurse being shaken along in the truck as it drives down the road covered with volcanic gravel and unhesitatingly accepts as the only possible reality the image of management, her cradling the unconscious patient against baressays code, her chest. What is happening is different from the classical aesthetic of omission practiced so expertly in in the nhs the films of Fritz Lang and pride and prejudice essay, Alfred Hitchcock. Here, the on change management nhs present moment is paulo thesis, made visually absolute. While not abandoning the time flow of the film, this ‘absolutification’ of the on change in the present moment is a bare, unadorned directorial technique that creates a raw filmic continuity for fiction, which otherwise would be subordinated to narrative flow and human psychology.
Only rarely in film is the ultimate state of fiction thus so simply integrated with the ultimate state of documentary. This visual absolutification of the present frees the shot from cause-and-effect narrative. By the time of No Quarto da Vanda , it would form the core of Pedro Costa’s films. But even in his earlier works, as in the scene on the moving truck bed and reputation essay, the walk into town in Casa de Lava and the long tracking shot in Ossos , it had already been attempted in partial form. In Pedro Costa’s editing, the story’s context is rarely explained through sequences of shots, so the nhs moment when the baby is grabbed away by his father is never shown on the screen. Lozano Thesis. What we end up seeing is only the on change in the uncomfortable re-encounter, after some time has passed, between the father and the mother, and the miserable figure of the woman as she looks wordlessly at the man deep asleep next to the baby. We do see, of course, shots of the childish mother as she returns home with her newborn baby in her arms, carefully shuts the windows, and drags the gas tank from the kitchen to the sofa where the com coupon code baby is sleeping. But Pedro Costa projects these gestures performed by the woman into the future and avoids presenting the sequence as suspense over whether the mother has decided to use the on change management in the nhs gas to kill herself and her baby. Then the tracking shot suddenly begins, a long, powerful shot that is fully self-sufficient and com coupon, that liberates the viewer from what comes before and after. As I have already said, this long tracking shot is imbued with marvellous tension. Essays On Change In The. While enduring that tension, the place essay viewer attains an understanding of it by noticing a small gesture performed during the essays management in the nhs shot.
When the man suddenly embraces with both arms the black plastic bag that he has been dangling casually from one hand, his act of having stolen the baby explodes silently upon the screen. How To Make The World Better Place Essay. While upset by the theft itself, the viewer is management nhs, also pained by the memory that at the beginning of the shot the man let the bag nearly scrape against the ground as he walked. Would someone really throw a newborn baby into a plastic bag like a bunch of vegetables and then stride down the sidewalk with the bag dangling from his hand? This is the question that all of us ask when we belatedly realise the seriousness of the situation. At the same time, we are relieved that the young father has felt it necessary to paulo lozano thesis bring the tiny creature to his chest.
As if ignoring that change, however, the long tracking shot continues. Once again, one is deeply moved by the incredible power that this young director – Costa was only thirty-eight when he filmed Ossos – was able to put on the screen. One cannot help gasping in shock at the directorial boldness of Costa’s introduction into the long continuous shot of a tiny, momentary change – from essays on change in the dangling the plastic bag to embracing it—that reveals everything, and at write good education the visual precision that such boldness demands. I do not know whether Costa intended this long tracking shot to make the viewer realise that the plastic bag contains a newborn infant. But it seems certain that Costa carefully instructed the actor playing the essays nhs father to make that motion. I also wonder idly about what was going on behind that directed action, such as whether the black plastic bag really did contain a baby. And Prejudice Reputation. It is in the, not necessary to know the pride reputation essay answer to that question, of course, to understand Ossos . Essays Management In The. But when, through this long tracking shot, we experience vicariously the palpable, forlorn feeling of holding that unidentified tiny life to our chests, that virtual sensation enlivens our view of the pride essay film at the uncertain boundary between fiction and documentary. One ambitious element of Costa’s direction in Ossos is undoubtedly the way he had the unfatherlike young man embrace the baby and then captured that helpless gesture on camera.
Costa’s ambition here, of course, is completely independent of our memories of banal comedies in which unmarried men fumble awkwardly as they try to on change in the take care of nursing babies. Rather, this element might better be said to show how tempting it is to pride reputation essay point the camera at a man hesitatingly embracing an infant, as John Wayne does in John Ford’s Three Godfathers (1949). The only director since Ford who has had an unfatherlike man walk a long way with a newborn infant in on change nhs his arms is Pedro Costa. Although I point out this fact, I have no intention of declaring triumphantly that Ford’s Western is recalled in Ossos . But just as crossing the desert with a baby in his arms was a rare adventure for the Western star John Wayne, equally rare adventures for film are the young father’s embracing of the black plastic bag in the poor neighborhood of Ossos and the young nurse’s embracing of the head of her patient, who is clearly much sturdier than she is, as she rattles along in the back of the truck on the volcanic gravel road in letters Casa de Lava . The adventure here, of course, is not in the depiction of a situation that has already been imagined to be adventurous but in the capturing on film of an unknown experience that occurs during the moment of filming. Essays On Change Management Nhs. Perhaps for Pedro Costa the lozano act of holding something to one’s chest is itself an adventure. To recall a familiar image, when the black plastic bag containing the baby is suddenly embraced in essays on change management in the nhs Ossos , it resembles the code shoddy wooden box holding vegetables that Vanda (Vanda Duarte) carries now and essays on change management in the nhs, then at her side in No Quarto da Vanda . Good Education. The times when she carries that box along shadowy alleys and to the doors of houses so dark it is difficult to on change management make out the residents are precisely the times when Vanda has left her room. For Pedro Costa, the act of carrying something in the arms may be an excuse for exposing a person to the outdoors. Just like Vanda trying to sell lettuce and pride and prejudice, salad greens as she carries the box through the alleys, the young father in essays on change management Ossos is trying to get money for the embraced baby exposed to the gaze of passersby. The tired Vanda sets her box of unsold vegetables down, squats next to a wall, and smokes a cigarette; similarly, the father in Ossos sits on the pavement, leans against the wall, and takes a deep drag on his cigarette as he awkwardly gives milk to the infant.
I do not mean to suggest that the make the world place vegetable seller in No Quarto da Vanda is management in the nhs, repeating the gesture of the young father in Ossos . The similarity between these two gestures in undeniable, but it would be difficult to say that merely pointing out baressays code, that similarity will determine our understanding of these two works. But it is certainly true that the incredible liveliness of Pedro Costa’s direction appears when a man or woman holds something in or under his or her arms. Does that gesture suggest an essays, invisible family? Or does it show the embracing of a love that transcends carnality? To find out, we must look forward to letters for jobs the director’s next work. Management. This text first appeared in the catalogue of the Pedro Costa retrospective, Sendai Mediatheque, 2005.
Thanks to Naoto Ogawa.
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Implementing change in the NHS …
competence essay Berkshire's Corporate Performance vs. the SP 500. Annual Percentage Change. Average Annual Gain ? 1965-2001. Overall Gain ? 1964-2001. Notes: Data are for calendar years with these exceptions: 1965 and 1966, year ended 9/30; 1967, 15 months ended 12/31.
Starting in 1979, accounting rules required insurance companies to value the equity securities they hold at market rather than at management the lower of cost or market, which was previously the requirement. In this table, Berkshire's results through 1978 have been restated to com coupon conform to the changed rules. In all other respects, the results are calculated using the essays management, numbers originally reported. The SP 500 numbers are pre-tax whereas the Berkshire numbers are after-tax . If a corporation such as Berkshire were simply to have owned the SP 500 and accrued the appropriate taxes, its results would have lagged the SP 500 in years when that index showed a positive return, but would have exceeded the effects on family essay, SP in years when the index showed a negative return. On Change Nhs? Over the years, the tax costs would have caused the aggregate lag to reputation be substantial. BERKSHIRE HATHAWAY INC. To the Shareholders of Berkshire Hathaway Inc.: Berkshire’s loss in net worth during 2001 was $3.77 billion, which decreased the per-share book value of both our Class A and essays on change management in the Class B stock by essay 6.2%.
Over the last 37 years (that is, since present management took over) per-share book value has grown from management $19 to $37,920, a rate of 22.6% compounded annually.* * All figures used in effects of alcoholism, this report apply to Berkshire's A shares, the successor to the only stock that the company had outstanding before 1996. The B shares have an economic interest equal to 1/30th that of the A. Per-share intrinsic grew somewhat faster than book value during these 37 years, and in 2001 it probably decreased a bit less. We explain intrinsic value in our Owner’s Manual, which begins on page 62. I urge new shareholders to read this manual to become familiar with Berkshire’s key economic principles.
Two years ago, reporting on 1999, I said that we had experienced both the on change management nhs, worst absolute and relative performance in our history. I added that relative results are what concern us, a viewpoint I’ve had since forming my first investment partnership on May 5, 1956. Meeting with my seven founding limited partners that evening, I gave them a short paper titled The Ground Rules that included this sentence: Whether we do a good job or a poor job is to covering letters be measured against the general experience in securities. We initially used the in the, Dow Jones Industrials as our benchmark, but shifted to the SP 500 when that index became widely used. Our comparative record since 1965 is on family essay, chronicled on the facing page; last year Berkshire’s advantage was 5.7 percentage points.
Some people disagree with our focus on relative figures, arguing that you can’t eat relative performance. But if you expect ? as Charlie Munger, Berkshire’s Vice Chairman, and I do ? that owning the SP 500 will produce reasonably satisfactory results over time, it follows that, for long-term investors, gaining small advantages annually over essays on change management in the nhs that index must prove rewarding. Just as you can eat well throughout the year if you own a profitable, but highly seasonal, business such as See’s (which loses considerable money during the summer months) so, too, can you regularly feast on investment returns that beat the averages, however variable the absolute numbers may be. Though our corporate performance last year was satisfactory, my performance was anything but. I manage most of Berkshire’s equity portfolio, and my results were poor, just as they have been for covering several years. Of even more importance, I allowed General Re to take on business without a safeguard I knew was important, and on September 11 th , this error caught up with us. Essays On Change In The? I’ll tell you more about my mistake later and what we are doing to correct it. Another of my 1956 Ground Rules remains applicable: I cannot promise results to partners. But Charlie and I can promise that your economic result from Berkshire will parallel ours during the period of your ownership: We will not take cash compensation, restricted stock or option grants that would make our results superior to yours.
Additionally, I will keep well over 99% of my net worth in Berkshire. Paulo? My wife and I have never sold a share nor do we intend to. Charlie and I are disgusted by the situation, so common in the last few years, in which shareholders have suffered billions in losses while the CEOs, promoters, and other higher-ups who fathered these disasters have walked away with extraordinary wealth. Indeed, many of these people were urging investors to buy shares while concurrently dumping their own, sometimes using methods that hid their actions. To their shame, these business leaders view shareholders as patsies, not partners. Though Enron has become the symbol for on change management in the shareholder abuse, there is no shortage of baressays com coupon egregious conduct elsewhere in corporate America. One story I’ve heard illustrates the all-too-common attitude of essays management managers toward owners: A gorgeous woman slinks up to how to make the world better essay a CEO at a party and essays through moist lips purrs, I’ll do anything ? anything ? you want.
Just tell me what you would like. With no hesitation, he replies, Reprice my options. One final thought about Berkshire: In the future we won’t come close to replicating our past record. To be sure, Charlie and I will strive for above-average performance and will not be satisfied with less. But two conditions at Berkshire are far different from what they once were: Then, we could often buy businesses and lozano thesis securities at much lower valuations than now prevail; and more important, we were then working with far less money than we now have. Essays Management Nhs? Some years back, a good $10 million idea could do wonders for us (witness our investment in Washington Post in 1973 or GEICO in 1976). Today, the combination of ten such ideas and a triple in the value of each would increase the essay, net worth of Berkshire by only ¼ of 1%. Essays Management In The? We need elephants to make significant gains now ? and they are hard to find.
On the positive side, we have as fine an array of operating managers as exists at any company. (You can read about many of them in a new book by Robert P. Effects On Family? Miles: The Warren Buffett CEO .) In large part, moreover, they are running businesses with economic characteristics ranging from good to essays management in the superb. The ability, energy and of alcoholism on family essay loyalty of essays these managers is simply extraordinary. Paulo Thesis? We now have completed 37 Berkshire years without having a CEO of an operating business elect to leave us to work elsewhere. Our star-studded group grew in 2001. On Change Nhs? First, we completed the purchases of two businesses that we had agreed to buy in baressays com coupon code, 2000 ? Shaw and Johns Manville. Then we acquired two others, MiTek and XTRA, and contracted to essays in the buy two more: Larson-Juhl, an acquisition that has just closed, and Fruit of the Loom, which will close shortly if creditors approve our offer. All of these businesses are led by paulo thesis smart, seasoned and trustworthy CEOs. Additionally, all of our purchases last year were for essays in the cash, which means our shareholders became owners of these additional businesses without relinquishing any interest in the fine companies they already owned. Reputation Essay? We will continue to follow our familiar formula, striving to increase the value of the excellent businesses we have, adding new businesses of similar quality, and issuing shares only grudgingly. Acquisitions of management nhs 2001. A few days before last year’s annual meeting, I received a heavy package from St.
Louis, containing an com coupon unprepossessing chunk of metal whose function I couldn’t imagine. There was a letter in in the, the package, though, from Gene Toombs, CEO of pride and prejudice reputation essay a company called MiTek. He explained that MiTek is the world’s leading producer of this thing I’d received, a connector plate, which is used in essays on change management in the nhs, making roofing trusses. Gene also said that the make better place, U.K. parent of MiTek wished to sell the company and that Berkshire seemed to him the ideal buyer. On Change Nhs? Liking the sound of his letter, I gave Gene a call. It took me only a minute to realize that he was our kind of good essay education manager and MiTek our kind of business. We made a cash offer to the U.K. owner and before long had a deal. Gene’s managerial crew is essays on change nhs, exceptionally enthusiastic about the company and wanted to participate in the purchase. Therefore, we arranged for 55 members of the MiTek team to buy 10% of the company, with each putting up a minimum of $100,000 in cash. Many borrowed money so they could participate.
As they would not be if they had options, all of these managers are true owners . They face the downside of decisions as well as the upside. They incur a cost of capital. And they can’t reprice their stakes: What they paid is what they live with. Charlie and I love the high-grade, truly entrepreneurial attitude that exists at MiTek, and we predict it will be a winner for all involved. In early 2000, my friend, Julian Robertson, announced that he would terminate his investment partnership, Tiger Fund, and that he would liquidate it entirely except for four large holdings. One of these was XTRA, a leading lessor of truck trailers.
I then called Julian, asking whether he might consider selling his XTRA block or whether, for that matter, the company’s management might entertain an offer for the entire company. Julian referred me to Lew Rubin, XTRA’s CEO. He and better place I had a nice conversation, but it was apparent that no deal was to be done. Then in June 2001, Julian called to say that he had decided to sell his XTRA shares, and essays on change management nhs I resumed conversations with Lew. The XTRA board accepted a proposal we made, which was to be effectuated through a tender offer expiring on September 11 th . The tender conditions included the usual out, allowing us to withdraw if the essay, stock market were to close before the offer’s expiration. Throughout much of the 11 th , Lew went through a particularly wrenching experience: First, he had a son-in-law working in the World Trade Center who couldn’t be located; and second, he knew we had the essays on change management in the, option of backing away from our purchase. The story ended happily: Lew’s son-in-law escaped serious harm, and Berkshire completed the transaction. Trailer leasing is a cyclical business but one in which we should earn decent returns over time. Baressays Com Coupon Code? Lew brings a new talent to Berkshire, and we hope to expand in leasing. On December 3 rd , I received a call from Craig Ponzio, owner of essays nhs Larson-Juhl, the U.S. leader in of alcoholism, custom-made picture frames. Craig had bought the essays management, company in 1981 (after first working at its manufacturing plant while attending college) and thereafter increased its sales from $3 million to $300 million.
Though I had never heard of Larson-Juhl before Craig’s call, a few minutes talk with him made me think we would strike a deal. Covering Letters? He was straightforward in describing the business, cared about who bought it, and was realistic as to price. On Change Management In The Nhs? Two days later, Craig and Steve McKenzie, his CEO, came to Omaha and in ninety minutes we reached an agreement. In ten days we had signed a contract. Larson-Juhl serves about 18,000 framing shops in the U.S. and is also the letters for jobs, industry leader in Canada and much of Europe. We expect to see opportunities for management making complementary acquisitions in the future. As I write this letter, creditors are considering an offer we have made for Fruit of the Loom. The company entered bankruptcy a few years back, a victim both of too much debt and baressays code poor management. And, a good many years before that, I had some Fruit of the on change management, Loom experience of my own. In August 1955, I was one of five employees, including two secretaries, working for the three managers of Graham-Newman Corporation, a New York investment company. Lozano? Graham-Newman controlled Philadelphia and Reading Coal and Iron (PR), an anthracite producer that had excess cash, a tax loss carryforward, and a declining business.
At the time, I had a significant portion of my limited net worth invested in essays on change, PR shares, reflecting my faith in the business talents of the world better my bosses, Ben Graham, Jerry Newman and Howard (Micky) Newman. This faith was rewarded when PR purchased the Union Underwear Company from Jack Goldfarb for $15 million. Union (though it was then only a licensee of the name) produced Fruit of the Loom underwear. The company possessed $5 million in cash ? $2.5 million of which PR used for essays on change the purchase ? and was earning about $3 million pre-tax, earnings that could be sheltered by the tax position of PR. And, oh yes: Fully $9 million of the remaining $12.5 million due was satisfied by thesis non-interest-bearing notes, payable from 50% of any earnings Union had in excess of $1 million. ( Those were the days; I get goosebumps just thinking about on change in the such deals.) Subsequently, Union bought the licensor of the Fruit of the Loom name and, along with PR, was merged into Northwest Industries. Fruit went on make the world better essay, to achieve annual pre-tax earnings exceeding $200 million. John Holland was responsible for Fruit’s operations in its most bountiful years. In 1996, however, John retired, and on change management in the nhs management loaded the company with debt, in of alcoholism on family, part to make a series of management in the nhs acquisitions that proved disappointing. Bankruptcy followed.
John was then rehired, and he undertook a major reworking of operations. Before John’s return, deliveries were chaotic, costs soared and relations with key customers deteriorated. While correcting these problems, John also reduced employment from a bloated 40,000 to 23,000. In short, he’s been restoring the old Fruit of the Loom, albeit in a much more competitive environment. Stepping into Fruit’s bankruptcy proceedings, we made a proposal to creditors to which we attached no financing conditions, even though our offer had to remain outstanding for many months. We did, however, insist on a very unusual proviso: John had to be available to continue serving as CEO after we took over. To us, John and the brand are Fruit’s key assets. I was helped in this transaction by my friend and thesis former boss, Micky Newman, now 81.
What goes around truly does come around. Our operating companies made several bolt-on acquisitions during the year, and I can’t resist telling you about one. In December, Frank Rooney called to tell me H.H. Brown was buying the inventory and trademarks of Acme Boot for $700,000. That sounds like small potatoes. But ? would you believe it? ? Acme was the second purchase of PR, an acquisition that took place just before I left Graham-Newman in on change nhs, the spring of 1956. The price was $3.2 million, part of it again paid with non-interest bearing notes, for code a business with sales of essays $7 million. After PR merged with Northwest, Acme grew to be the world’s largest bootmaker, delivering annual profits many multiples of what the pride, company had cost PR. But the business eventually hit the essays management in the, skids and never recovered, and that resulted in our purchasing Acme’s remnants. In the frontispiece to Security Analysis , Ben Graham and effects essay Dave Dodd quoted Horace: Many shall be restored that now are fallen and essays on change management many shall fall that are now in honor. Fifty-two years after I first read those lines, my appreciation for what they say about good business and investments continues to grow.
In addition to bolt-on acquisitions, our managers continually look for ways to grow internally. On Change Nhs? In that regard, here’s a postscript to a story I told you two years ago about R.C. Willey’s move to Boise. Good Essay? As you may remember, Bill Child, R.C. On Change Management Nhs? Willey’s chairman, wanted to extend his home-furnishings operation beyond Utah, a state in which his company does more than $300 million of business (up, it should be noted, from com coupon code $250,000 when Bill took over 48 years ago). The company achieved this dominant position, moreover, with a closed on Sunday policy that defied conventional retailing wisdom. On Change? I was skeptical that this policy could succeed in Boise or, for that matter, anyplace outside of make better Utah. After all, Sunday is the day many consumers most like to management nhs shop. Bill then insisted on something extraordinary: He would invest $11 million of his own money to com coupon build the essays on change management in the, Boise store and covering would sell it to on change management nhs Berkshire at cost (without interest!) if the venture succeeded. Of Alcoholism On Family Essay? If it failed, Bill would keep the store and eat the loss on its disposal.
As I told you in the 1999 annual report, the store immediately became a huge success ? and it has since grown. Shortly after the Boise opening, Bill suggested we try Las Vegas, and this time I was even more skeptical. How could we do business in a metropolis of that size and be closed on Sundays, a day that all of on change management nhs our competitors would be exploiting? Buoyed by the Boise experience, however, we proceeded to locate in Henderson, a mushrooming city adjacent to Las Vegas. The result: This store outsells all others in the R.C. Willey chain, doing a volume of business that far exceeds the volume of any competitor and that is twice what I had anticipated. I cut the ribbon at lozano thesis the grand opening in October ? this was after a soft opening and essays on change management nhs a few weeks of exceptional sales ? and, just as I did at how to make better Boise, I suggested to the crowd that the new store was my idea.
It didn’t work. Today, when I pontificate about retailing, Berkshire people just say, What does Bill think? (I’m going to draw the line, however, if he suggests that we also close on Saturdays.) The Economics of Property/Casualty Insurance. Our main business ? though we have others of great importance ? is insurance. To understand Berkshire, therefore, it is necessary that you understand how to evaluate an insurance company. The key determinants are: (1) the amount of float that the business generates; (2) its cost; and (3) most critical of all, the on change management in the nhs, long-term outlook for and prejudice reputation both of these factors. To begin with, float is money we hold but don't own. In an insurance operation, float arises because premiums are received before losses are paid, an interval that sometimes extends over many years. Essays Management In The Nhs? During that time, the insurer invests the money.
This pleasant activity typically carries with it a downside: The premiums that an insurer takes in and prejudice reputation essay, usually do not cover the losses and expenses it eventually must pay. Essays Management? That leaves it running an underwriting loss, which is the good essay education, cost of float. An insurance business has value if its cost of float over essays on change management time is less than the cost the of alcoholism essay, company would otherwise incur to obtain funds. But the business is essays in the nhs, a lemon if its cost of float is letters for jobs, higher than market rates for essays in the nhs money. Historically, Berkshire has obtained its float at a very low cost. How To The World Place? Indeed, our cost has been less than zero in about half of the years in which we've operated; that is, we've actually been paid for essays management in the nhs holding other people's money. Over the last few years, however, our cost has been too high, and in 2001 it was terrible. The table that follows shows (at intervals) the float generated by the various segments of Berkshire's insurance operations since we entered the business 35 years ago upon acquiring National Indemnity Company (whose traditional lines are included in the segment Other Primary).
For the table we have calculated our float ? which we generate in large amounts relative to our premium volume ? by adding net loss reserves, loss adjustment reserves, funds held under reinsurance assumed and unearned premium reserves, and for jobs then subtracting insurance-related receivables, prepaid acquisition costs, prepaid taxes and on change in the deferred charges applicable to assumed reinsurance. Com Coupon Code? (Got that?) Yearend Float (in $ millions) Last year I told you that, barring a mega-catastrophe, our cost of float would probably drop from its 2000 level of 6%. I had in mind natural catastrophes when I said that, but instead we were hit by a man-made catastrophe on September 11 th ? an on change in the event that delivered the insurance industry its largest loss in history. Our float cost therefore came in at a staggering 12.8%. It was our worst year in float cost since 1984, and a result that to a significant degree, as I will explain in the next section, we brought upon ourselves. If no mega-catastrophe occurs, I ? once again ? expect the cost of our float to be low in the coming year. Make? We will indeed need a low cost, as will all insurers. Some years back, float costing, say, 4% was tolerable because government bonds yielded twice as much, and stocks prospectively offered still loftier returns.
Today, fat returns are nowhere to be found (at least we can't find them) and short-term funds earn less than 2%. Under these conditions, each of our insurance operations, save one, must deliver an in the underwriting profit if it is to and prejudice be judged a good business. The exception is our retroactive reinsurance operation (a business we explained in last year's annual report), which has desirable economics even though it currently hits us with an annual underwriting loss of about $425 million. Principles of Insurance Underwriting. When property/casualty companies are judged by their cost of float, very few stack up as satisfactory businesses. Essays On Change Nhs? And interestingly ? unlike the write essay, situation prevailing in many other industries ? neither size nor brand name determines an insurer's profitability.
Indeed, many of the biggest and in the nhs best-known companies regularly deliver mediocre results. What counts in this business is underwriting discipline. The winners are those that unfailingly stick to three key principles: They accept only those risks that they are able to properly evaluate (staying within their circle of covering letters competence) and that, after they have evaluated all relevant factors including remote loss scenarios, carry the essays in the, expectancy of letters profit. These insurers ignore market-share considerations and essays management are sanguine about losing business to letters competitors that are offering foolish prices or policy conditions. They limit the business they accept in a manner that guarantees they will suffer no aggregation of losses from a single event or from related events that will threaten their solvency. They ceaselessly search for management nhs possible correlation among seemingly-unrelated risks.
They avoid business involving moral risk: No matter what the rate, trying to effects of alcoholism on family write good contracts with bad people doesn't work. While most policyholders and clients are honorable and ethical, doing business with the few exceptions is essays management in the nhs, usually expensive, sometimes extraordinarily so. In pricing property coverages, for example, we had looked to the past and taken into account only costs we might expect to incur from windstorm, fire, explosion and earthquake. But what will be the largest insured property loss in history (after adding related business-interruption claims) originated from none of these forces. Good Essay? In short, all of us in the industry made a fundamental underwriting mistake by focusing on experience, rather than exposure, thereby assuming a huge terrorism risk for which we received no premium. Experience, of on change nhs course, is a highly useful starting point in underwriting most coverages. Paulo Thesis? For example, it's important for on change management insurers writing California earthquake policies to know how many quakes in the state during the past century have registered 6.0 or greater on the Richter scale. This information will not tell you the exact probability of a big quake next year, or where in education, the state it might happen. But the statistic has utility, particularly if you are writing a huge statewide policy, as National Indemnity has done in recent years. At certain times, however, using experience as a guide to pricing is not only useless, but actually dangerous. Late in a bull market, for example, large losses from directors and officers liability insurance (DO) are likely to on change in the nhs be relatively rare.
When stocks are rising, there are a scarcity of com coupon code targets to sue, and both questionable accounting and management chicanery often go undetected. At that juncture, experience on high-limit DO may look great. But that's just when exposure is likely to be exploding, by essays on change in the nhs way of ridiculous public offerings, earnings manipulation, chain-letter-like stock promotions and a potpourri of other unsavory activities. When stocks fall, these sins surface, hammering investors with losses that can run into the hundreds of billions. Good Essay Education? Juries deciding whether those losses should be borne by on change in the nhs small investors or big insurance companies can be expected to hit insurers with verdicts that bear little relation to those delivered in bull-market days. Even one jumbo judgment, moreover, can cause settlement costs in later cases to mushroom. Consequently, the correct rate for DO excess (meaning the insurer or reinsurer will pay losses above a high threshold) might well, if based on exposure , be five or more times the premium dictated by experience . Insurers have always found it costly to baressays code ignore new exposures. Essays Management In The Nhs? Doing that in the case of terrorism, however, could literally bankrupt the good, industry. No one knows the probability of a nuclear detonation in a major metropolis this year (or even multiple detonations, given that a terrorist organization able to construct one bomb might not stop there).
Nor can anyone, with assurance, assess the probability in this year, or another, of deadly biological or chemical agents being introduced simultaneously (say, through ventilation systems) into multiple office buildings and manufacturing plants. An attack like that would produce astronomical workers' compensation claims. Here's what we do know: The probability of on change management in the such mind-boggling disasters, though likely very low at present, is not zero. The probabilities are increasing, in an irregular and immeasurable manner, as knowledge and effects essay materials become available to those who wish us ill. Essays On Change Management Nhs? Fear may recede with time, but the danger won't ? the how to make the world better essay, war against terrorism can never be won. Essays Management In The? The best the and prejudice reputation, nation can achieve is a long succession of stalemates. There can be no checkmate against hydra-headed foes.
Until now, insurers and essays reinsurers have blithely assumed the for jobs, financial consequences from the incalculable risks I have described. Under a close-to-worst-case scenario, which could conceivably involve $1 trillion of damage, the insurance industry would be destroyed unless it manages in some manner to dramatically limit its assumption of terrorism risks. Only the U.S. Government has the on change management nhs, resources to absorb such a blow. If it is unwilling to do so on a prospective basis, the general citizenry must bear its own risks and count on the Government to the world place come to its rescue after a disaster occurs. Why, you might ask, didn't I recognize the on change management, above facts before September 11 th ? The answer, sadly, is that I did ? but I didn't convert thought into action. I violated the Noah rule: Predicting rain doesn't count; building arks does. I consequently let Berkshire operate with a dangerous level of risk ? at General Re in particular. I'm sorry to say that much risk for which we haven't been compensated remains on our books, but it is running off by the day.
At Berkshire, it should be noted, we have for some years been willing to good essay assume more risk than any other insurer has knowingly taken on. That's still the case. In The? We are perfectly willing to lose $2 billion to $2½ billion in a single event (as we did on September 11 th ) if we have been paid properly for assuming the risk that caused the loss (which on how to the world essay, that occasion we weren't). Indeed, we have a major competitive advantage because of our tolerance for huge losses. Berkshire has massive liquid resources, substantial non-insurance earnings, a favorable tax position and a knowledgeable shareholder constituency willing to on change management in the nhs accept volatility in earnings. This unique combination enables us to assume risks that far exceed the appetite of even our largest competitors. Over time, insuring these jumbo risks should be profitable, though periodically they will bring on a terrible year.
The bottom-line today is that we will write some coverage for terrorist-related losses, including a few non-correlated policies with very large limits. But we will not knowingly expose Berkshire to losses beyond what we can comfortably handle. We will control our total exposure, no matter what the competition does. Insurance Operations in 2001. Over the of alcoholism on family, years, our insurance business has provided ever-growing, low-cost funds that have fueled much of Berkshire's growth. Charlie and I believe this will continue to be the case. Essays On Change Nhs? But we stumbled in a big way in 2001, largely because of underwriting losses at General Re. In the and prejudice, past I have assured you that General Re was underwriting with discipline ? and essays on change management nhs I have been proven wrong.
Though its managers' intentions were good, the company broke each of the three underwriting rules I set forth in the last section and has paid a huge price for doing so. One obvious cause for its failure is that it did not reserve correctly ? more about this in the next section ? and therefore severely miscalculated the cost of the product it was selling. Not knowing your costs will cause problems in essay education, any business. In The Nhs? In long-tail reinsurance, where years of unawareness will promote and baressays code prolong severe underpricing, ignorance of true costs is dynamite. Additionally, General Re was overly-competitive in going after, and retaining, business. While all concerned may intend to underwrite with care, it is nonetheless difficult for able, hard-driving professionals to curb their urge to prevail over essays nhs competitors. If winning, however, is equated with market share rather than profits, trouble awaits. No must be an important part of any underwriter's vocabulary.
At the risk of sounding Pollyannaish, I now assure you that underwriting discipline is being restored at General Re (and its Cologne Re subsidiary) with appropriate urgency. Joe Brandon was appointed General Re's CEO in September and, along with Tad Montross, its new president, is committed to producing underwriting profits. Last fall, Charlie and I read Jack Welch's terrific book, Jack, Straight from the Gut (get a copy!). In discussing it, we agreed that Joe has many of Jack's characteristics: He is smart, energetic, hands-on, and paulo lozano thesis expects much of both himself and his organization. When it was an independent company, General Re often shone, and now it also has the considerable strengths Berkshire brings to the table. With that added advantage and with underwriting discipline restored, General Re should be a huge asset for Berkshire. I predict that Joe and Tad will make it so. At the National Indemnity reinsurance operation, Ajit Jain continues to add enormous value to Berkshire. Working with only on change management nhs, 18 associates, Ajit manages one of the world's largest reinsurance operations measured by letters for jobs assets, and the largest, based upon essays in the nhs, the size of individual risks assumed. I have known the details of effects on family essay almost every policy that Ajit has written since he came with us in essays management in the, 1986, and effects on family never on even a single occasion have I seen him break any of essays management in the nhs our three underwriting rules.
His extraordinary discipline, of letters course, does not eliminate losses; it does, however, prevent foolish losses. And that's the essays on change nhs, key: Just as is the case in investing, insurers produce outstanding long-term results primarily by avoiding dumb decisions, rather than by essay making brilliant ones. Since September 11 th , Ajit has been particularly busy. Among the policies we have written and retained entirely for our own account are (1) $578 million of property coverage for a South American refinery once a loss there exceeds $1 billion; (2) $1 billion of non-cancelable third-party liability coverage for losses arising from acts of terrorism at several large international airlines; (3) £500 million of property coverage on on change, a large North Sea oil platform, covering losses from terrorism and sabotage, above £600 million that the insured retained or reinsured elsewhere; and baressays code (4) significant coverage on the Sears Tower, including losses caused by terrorism, above a $500 million threshold. We have written many other jumbo risks as well, such as protection for the World Cup Soccer Tournament and the 2002 Winter Olympics. In all cases, however, we have attempted to avoid writing groups of policies from essays management in the nhs which losses might seriously aggregate. Baressays Code? We will not, for example, write coverages on essays on change management, a large number of office and write essay apartment towers in a single metropolis without excluding losses from both a nuclear explosion and the fires that would follow it. No one can match the speed with which Ajit can offer huge policies. After September 11 th , his quickness to respond, always important, has become a major competitive advantage. On Change In The? So, too, has our unsurpassed financial strength. Some reinsurers ? particularly those who, in turn, are accustomed to laying off much of their business on a second layer of reinsurers known as retrocessionaires ? are in a weakened condition and would have difficulty surviving a second mega-cat.
When a daisy chain of retrocessionaires exists, a single weak link can pose trouble for all. In assessing the soundness of their reinsurance protection, insurers must therefore apply a stress test to baressays all participants in the chain, and must contemplate a catastrophe loss occurring during a very unfavorable economic environment. After all, you only find out essays on change nhs who is swimming naked when the essay, tide goes out. At Berkshire, we retain our risks and depend on no one. And whatever the world's problems, our checks will clear. Ajit's business will ebb and flow ? but his underwriting principles won't waver.
It's impossible to overstate his value to Berkshire. GEICO, by on change in the far our largest primary insurer, made major progress in baressays code, 2001, thanks to Tony Nicely, its CEO, and essays on change management his associates. Good Education? Quite simply, Tony is an owner's dream. GEICO's premium volume grew 6.6% last year, its float grew $308 million, and it achieved an underwriting profit of $221 million. This means we were actually paid that amount last year to hold the $4.25 billion in management in the, float, which of course doesn't belong to Berkshire but can be used by us for investment. The only for jobs, disappointment at GEICO in essays on change in the nhs, 2001 ? and it's an lozano thesis important one ? was our inability to add policyholders. Our preferred customers (81% of our total) grew by 1.6% but our standard and essays on change management in the nhs non-standard policies fell by 10.1%. Overall, policies in force fell .8%. New business has improved in recent months. Pride? Our closure rate from telephone inquiries has climbed, and essays on change our Internet business continues its steady growth. We, therefore, expect at least a modest gain in policy count during 2002.
Tony and I are eager to commit much more to lozano marketing than the management, $219 million we spent last year, but at the moment we cannot see how to do so effectively. In the write good, meantime, our operating costs are low and far below those of our major competitors; our prices are attractive; and our float is cost-free and growing. Our other primary insurers delivered their usual fine results last year. These operations, run by Rod Eldred, John Kizer, Tom Nerney, Michael Stearns, Don Towle and Don Wurster had combined premium volume of $579 million, up 40% over 2000. Their float increased 14.5% to essays in the $685 million, and they recorded an underwriting profit of $30 million.
In aggregate, these companies are one of the finest insurance operations in make the world better, the country, and on change their 2002 prospects look excellent. Loss Development and Insurance Accounting. Bad terminology is the enemy of com coupon good thinking. When companies or investment professionals use terms such as EBITDA and pro essays in the nhs, forma, they want you to unthinkingly accept concepts that are dangerously flawed. (In golf, my score is covering letters, frequently below par on a pro forma basis: I have firm plans to on change nhs restructure my putting stroke and covering letters therefore only count the swings I take before reaching the green.) In insurance reporting, loss development is a widely used term ? and one that is seriously misleading. First, a definition: Loss reserves at an insurer are not funds tucked away for a rainy day, but rather a liability account. If properly calculated, the essays nhs, liability states the amount that an insurer will have to pay for all losses (including associated costs) that have occurred prior to baressays com coupon the reporting date but have not yet been paid. When calculating the reserve, the insurer will have been notified of many of the losses it is destined to essays pay, but others will not yet have been reported to it. These losses are called IBNR, for incurred but not reported. Indeed, in some cases (involving, say, product liability or embezzlement) the insured itself will not yet be aware that a loss has occurred.
It's clearly difficult for an insurer to put a figure on the ultimate cost of all such reported and unreported events. But the ability to do so with reasonable accuracy is vital. Otherwise the insurer's managers won't know what its actual loss costs are and how these compare to the premiums being charged. GEICO got into effects essay, huge trouble in management in the nhs, the early 1970s because for several years it severely underreserved, and therefore believed its product (insurance protection) was costing considerably less than was truly the write essay education, case. Consequently, the company sailed blissfully along, underpricing its product and management in the selling more and more policies at ever-larger losses. When it becomes evident that reserves at past reporting dates understated the liability that truly existed at the time, companies speak of loss development. In the year discovered, these shortfalls penalize reported earnings because the pride and prejudice essay, catch-up costs from prior years must be added to essays management current-year costs when results are calculated. This is pride reputation essay, what happened at General Re in 2001: a staggering $800 million of loss costs that actually occurred in earlier years, but that were not then recorded, were belatedly recognized last year and charged against current earnings. Management Nhs? The mistake was an honest one, I can assure you of that. Nevertheless, for several years, this underreserving caused us to believe that our costs were much lower than they truly were, an baressays com coupon error that contributed to woefully inadequate pricing.
Additionally, the overstated profit figures led us to pay substantial incentive compensation that we should not have and to incur income taxes far earlier than was necessary. We recommend scrapping the on change management in the nhs, term loss development and covering letters for jobs its equally ugly twin, reserve strengthening. Essays On Change? (Can you imagine an insurer, upon finding its reserves excessive, describing the reduction that follows as reserve weakening?) Loss development suggests to investors that some natural, uncontrollable event has occurred in letters for jobs, the current year, and reserve strengthening implies that adequate amounts have been further buttressed. The truth, however, is essays in the, that management made an error in estimation that in turn produced an effects of alcoholism on family error in essays management nhs, the earnings previously reported. Effects Of Alcoholism On Family Essay? The losses didn't develop ? they were there all along. Essays On Change In The? What developed was management's understanding of the losses (or, in the instances of chicanery, management's willingness to finally fess up). A more forthright label for letters the phenomenon at on change nhs issue would be loss costs we failed to recognize when they occurred (or maybe just oops). Paulo Thesis? Underreserving, it should be noted, is a common ? and serious ? problem throughout the property/casualty insurance industry. At Berkshire we told you of our own problems with underestimation in 1984 and 1986. Essays Management In The Nhs? Generally, however, our reserving has been conservative.
Major underreserving is com coupon, common in cases of companies struggling for survival. In effect, insurance accounting is on change in the nhs, a self-graded exam, in that the baressays code, insurer gives some figures to its auditing firm and generally doesn't get an argument. On Change In The Nhs? (What the auditor gets, however, is a letter from management that is designed to take his firm off the hook if the numbers later look silly.) A company experiencing financial difficulties ? of a kind that, if truly faced, could put it out of business ? seldom proves to be a tough grader. Who, after all, wants to prepare his own execution papers? Even when companies have the best of on family essay intentions, it's not easy to reserve properly. I've told the story in management, the past about the how to the world, fellow traveling abroad whose sister called to tell him that their dad had died. The brother replied that it was impossible for him to get home for the funeral; he volunteered, however, to shoulder its cost. Upon returning, the brother received a bill from the mortuary for $4,500, which he promptly paid.
A month later, and nhs a month after that also, he paid $10 pursuant to an add-on invoice. When a third $10 invoice came, he called his sister for an explanation. Oh, she replied, I forgot to tell you. We buried dad in a rented suit. There are a lot of pride and prejudice essay rented suits buried in the past operations of insurance companies. Essays On Change Nhs? Sometimes the problems they signify lie dormant for decades, as was the case with asbestos liability, before virulently manifesting themselves. Difficult as the job may be, it's management's responsibility to adequately account for how to make the world better essay all possibilities. Conservatism is essential. When a claims manager walks into the CEO's office and says Guess what just happened, his boss, if a veteran, does not expect to hear it's good news.
Surprises in the insurance world have been far from essays on change nhs symmetrical in their effect on earnings. Because of this one-sided experience, it is folly to suggest, as some are doing, that all property/casualty insurance reserves be discounted , an paulo approach reflecting the fact that they will be paid in the future and that therefore their present value is less than the essays on change in the nhs, stated liability for them. On Family Essay? Discounting might be acceptable if reserves could be precisely established. They can't, however, because a myriad of forces ? judicial broadening of management in the nhs policy language and write education medical inflation, to name just two chronic problems ? are constantly working to make reserves inadequate. Discounting would exacerbate this already-serious situation and, additionally, would provide a new tool for the companies that are inclined to fudge. I'd say that the effects from essays on change in the nhs telling a profit-challenged insurance CEO to lower reserves through discounting would be comparable to those that would ensue if a father told his 16-year-old son to have a normal sex life. Neither party needs that kind of push. Sources of Reported Earnings.
The table that follows shows the main sources of Berkshire's reported earnings. In this presentation, purchase-accounting adjustments (primarily relating to goodwill) are not assigned to the specific businesses to which they apply, but are instead aggregated and shown separately. This procedure lets you view the earnings of our businesses as they would have been reported had we not purchased them. In recent years, our expense for goodwill amortization has been large. Going forward, generally accepted accounting principles (GAAP) will no longer require amortization of pride essay goodwill.
This change will increase our reported earnings (though not our true economic earnings) and essays on change nhs simplify this section of the report. of Net Earnings. (after taxes and. (1) Includes Acme Brick from August 1, 2000; Benjamin Moore from December 18, 2000; Johns Manville from February 27, 2001; and effects essay MiTek from July 31, 2001. (2) From date of acquisition, January 8, 2001. Here are some highlights (and lowlights) from essays in the 2001 relating to our non-insurance activities:
Our shoe operations (included in other businesses) lost $46.2 million pre-tax, with profits at H.H. Brown and Justin swamped by losses at Dexter. I've made three decisions relating to Dexter that have hurt you in a major way: (1) buying it in paulo thesis, the first place; (2) paying for it with stock and (3) procrastinating when the need for changes in its operations was obvious. I would like to lay these mistakes on Charlie (or anyone else, for that matter) but they were mine. Dexter, prior to our purchase ? and indeed for a few years after ? prospered despite low-cost foreign competition that was brutal. On Change Management In The Nhs? I concluded that Dexter could continue to cope with that problem, and paulo lozano thesis I was wrong. We have now placed the Dexter operation ? which is essays on change management nhs, still substantial in covering letters for jobs, size ? under the management of Frank Rooney and Jim Issler at H.H. Brown. These men have performed outstandingly for Berkshire, skillfully contending with the extraordinary changes that have bedeviled the footwear industry.
During part of essays on change in the 2002, Dexter will be hurt by unprofitable sales commitments it made last year. Pride And Prejudice Reputation? After that, we believe our shoe business will be reasonably profitable. MidAmerican Energy, of which we own 76% on a fully-diluted basis, had a good year in on change management in the nhs, 2001. Its reported earnings should also increase considerably in 2002 given that the company has been shouldering a large charge for write the amortization of essays on change goodwill and that this cost will disappear under the write good education, new GAAP rules. Last year MidAmerican swapped some properties in England, adding Yorkshire Electric, with its 2.1 million customers. We are now serving 3.6 million customers in the U.K. and are its 2 nd largest electric utility. We have an essays in the nhs equally important operation in Iowa as well as major generating facilities in California and the Philippines. At MidAmerican ? this may surprise you ? we also own the second-largest residential real estate brokerage business in the country. We are market-share leaders in a number of effects on family essay large cities, primarily in the Midwest, and have recently acquired important firms in Atlanta and Southern California. On Change In The? Last year, operating under various names that are locally familiar, we handled about 106,000 transactions involving properties worth nearly $20 billion. Ron Peltier has built this business for us, and it's likely he will make more acquisitions in 2002 and code the years to come.
Considering the recessionary environment plaguing them, our retailing operations did well in 2001. In jewelry, same-store sales fell 7.6% and essays management nhs pre-tax margins were 8.9% versus 10.7% in 2000. Return on invested capital remains high. Same-store sales at our home-furnishings retailers were unchanged and so was the baressays com coupon code, margin ? 9.1% pre-tax ? these operations earned. Here, too, return on invested capital is excellent. We continue to essays on change management nhs expand in both jewelry and home-furnishings. Of particular note, Nebraska Furniture Mart is covering for jobs, constructing a mammoth 450,000 square foot store that will serve the greater Kansas City area beginning in the fall of 2003. Despite Bill Child's counter-successes, we will keep this store open on management nhs, Sundays. The large acquisitions we initiated in late 2000 ? Shaw, Johns Manville and Benjamin Moore ? all came through their first year with us in great fashion. Essay Education? Charlie and essays management in the nhs I knew at the time of our purchases that we were in how to make the world better place essay, good hands with Bob Shaw, Jerry Henry and Yvan Dupuy, respectively ? and we admire their work even more now. Essays On Change Management In The? Together these businesses earned about $659 million pre-tax.
Shortly after yearend we exchanged 4,740 Berkshire A shares (or their equivalent in B shares) for write essay education the 12.7% minority interest in Shaw, which means we now own 100% of the company. Shaw is our largest non-insurance operation and essays on change management in the nhs will play a big part in reputation, Berkshire's future. All of the income shown for essays on change Flight Services in 2001 ? and a bit more ? came from effects of alcoholism FlightSafety, our pilot-training subsidiary. Its earnings increased 2.5%, though return on invested capital fell slightly because of the $258 million investment we made last year in simulators and other fixed assets. My 84-year-old friend, Al Ueltschi, continues to run FlightSafety with the same enthusiasm and competitive spirit that he has exhibited since 1951, when he invested $10,000 to start the company. If I line Al up with a bunch of 60-year-olds at the annual meeting, you will not be able to pick him out. After September 11 th , training for commercial airlines fell, and today it remains depressed. However, training for business and essays nhs general aviation, our main activity, is at near-normal levels and write education should continue to grow. In 2002, we expect to spend $162 million for management in the nhs 27 simulators, a sum far in excess of our annual depreciation charge of $95 million. Those who believe that EBITDA is in how to make essay, any way equivalent to true earnings are welcome to pick up the essays management, tab.
Our NetJets® fractional ownership program sold a record number of planes last year and effects also showed a gain of 21.9% in service income from essays management in the management fees and hourly charges. Nevertheless, it operated at a small loss, versus a small profit in 2000. We made a little money in the U.S., but these earnings were more than offset by European losses. Measured by the value of our customers' planes, NetJets accounts for about half of the write good, industry. We believe the essays on change management in the nhs, other participants, in aggregate, lost significant money. Maintaining a premier level of safety, security and service was always expensive, and the cost of sticking to pride essay those standards was exacerbated by essays September 11 th . No matter how much the cost, we will continue to be the industry leader in all three respects. An uncompromising insistence on delivering only the best to his customers is embedded in the DNA of Rich Santulli, CEO of the company and of alcoholism on family essay the inventor of fractional ownership. I'm delighted with his fanaticism on essays in the, these matters for both the company's sake and my family's: I believe the Buffetts fly more fractional-ownership hours ? we log in better place, excess of essays 800 annually ? than does any other family. In case you're wondering, we use exactly the same planes and better place essay crews that serve NetJet's other customers. NetJets experienced a spurt in new orders shortly after September 11 th , but its sales pace has since returned to normal. Per-customer usage declined somewhat during the year, probably because of the recession.
Both we and in the nhs our customers derive significant operational benefits from our being the runaway leader in the fractional ownership business. How To Make Better Place Essay? We have more than 300 planes constantly on the go in the U.S. and can therefore be wherever a customer needs us on very short notice. The ubiquity of our fleet also reduces our positioning costs below those incurred by operators with smaller fleets. These advantages of scale, and others we have, give NetJets a significant economic edge over competition. Under the competitive conditions likely to prevail for a few years, however, our advantage will at best produce modest profits. Our finance and financial products line of business now includes XTRA, General Re Securities (which is in essays management in the nhs, a run-off mode that will continue for an extended period) and a few other relatively small operations. The bulk of the assets and liabilities in this segment, however, arise from baressays code a few fixed-income strategies, involving highly-liquid AAA securities, that I manage. This activity, which only makes sense when certain market relationships exist, has produced good returns in the past and has reasonable prospects for management in the continuing to do so over effects on family the next year or two.
Below we present our common stock investments. Those that had a market value of more than $500 million at on change in the nhs the end of 2001 are itemized. (dollars in millions) We made few changes in write education, our portfolio during 2001. As a group, our larger holdings have performed poorly in on change management in the, the last few years, some because of and prejudice essay disappointing operating results. Charlie and essays nhs I still like the basic businesses of for jobs all the companies we own. Essays Management In The Nhs? But we do not believe Berkshire's equity holdings as a group are undervalued. Our restrained enthusiasm for these securities is effects, matched by nhs decidedly lukewarm feelings about the prospects for stocks in general over the next decade or so. I expressed my views about equity returns in a speech I gave at an Allen and Company meeting in July (which was a follow-up to a similar presentation I had made two years earlier) and make the world better essay an edited version of my comments appeared in on change management in the nhs, a December 10 th Fortune article. Essay? I'm enclosing a copy of that article. You can also view the Fortune version of essays nhs my 1999 talk at make the world better our website www.berkshirehathaway.com . Charlie and I believe that American business will do fine over time but think that today's equity prices presage only moderate returns for investors.
The market outperformed business for essays management in the nhs a very long period, and that phenomenon had to end. A market that no more than parallels business progress, however, is likely to leave many investors disappointed, particularly those relatively new to the game. Here's one for those who enjoy an odd coincidence: The Great Bubble ended on March 10, 2000 (though we didn't realize that fact until some months later). On that day, the effects of alcoholism on family essay, NASDAQ (recently 1,731) hit its all-time high of 5,132. That same day, Berkshire shares traded at $40,800, their lowest price since mid-1997. During 2001, we were somewhat more active than usual in junk bonds. These are not, we should emphasize, suitable investments for essays on change management the general public, because too often these securities live up to their name. Write Essay Education? We have never purchased a newly-issued junk bond, which is the only kind most investors are urged to buy. In The? When losses occur in this field, furthermore, they are often disastrous: Many issues end up at a small fraction of their original offering price and some become entirely worthless. Despite these dangers, we periodically find a few ? a very few ? junk securities that are interesting to us.
And, so far, our 50-year experience in distressed debt has proven rewarding. In our 1984 annual report, we described our purchases of Washington Public Power System bonds when that issuer fell into disrepute. We've also, over the years, stepped into other apparent calamities such as Chrysler Financial, Texaco and RJR Nabisco ? all of which returned to grace. Still, if we stay active in junk bonds, you can expect us to have losses from time to time. Occasionally, a purchase of lozano thesis distressed bonds leads us into something bigger. Early in the Fruit of the Loom bankruptcy, we purchased the company's public and bank debt at about 50% of face value. This was an unusual bankruptcy in that interest payments on senior debt were continued without interruption, which meant we earned about essays management in the a 15% current return. Our holdings grew to write good education 10% of Fruit's senior debt, which will probably end up returning us about 70% of management in the face value. Write Good? Through this investment, we indirectly reduced our purchase price for on change in the the whole company by effects of alcoholism a small amount. In late 2000, we began purchasing the obligations of FINOVA Group, a troubled finance company, and that, too, led to our making a major transaction.
FINOVA then had about $11 billion of debt outstanding, of which we purchased 13% at about two-thirds of face value. We expected the company to go into bankruptcy, but believed that liquidation of its assets would produce a payoff for management in the creditors that would be well above our cost. As default loomed in early 2001, we joined forces with Leucadia National Corporation to present the company with a prepackaged plan for bankruptcy. The plan as subsequently modified (and I'm simplifying here) provided that creditors would be paid 70% of reputation face value (along with full interest) and management in the nhs that they would receive a newly-issued 7½% note for the 30% of their claims not satisfied by how to make the world place cash. To fund FINOVA's 70% distribution, Leucadia and Berkshire formed a jointly-owned entity ? mellifluently christened Berkadia ? that borrowed $5.6 billion through FleetBoston and, in turn, re-lent this sum to FINOVA, concurrently obtaining a priority claim on its assets. Berkshire guaranteed 90% of the essays management in the nhs, Berkadia borrowing and also has a secondary guarantee on the 10% for paulo lozano which Leucadia has primary responsibility. In The Nhs? (Did I mention that I am simplifying?).
There is write essay, a spread of about two percentage points between what Berkadia pays on its borrowing and what it receives from FINOVA, with this spread flowing 90% to Berkshire and 10% to Leucadia. As I write this, each loan has been paid down to essays on change management in the $3.9 billion. As part of the bankruptcy plan, which was approved on August 10, 2001, Berkshire also agreed to offer 70% of face value for up to $500 million principal amount of the $3.25 billion of new 7½% bonds that were issued by FINOVA. (Of these, we had already received $426.8 million in covering, principal amount because of our 13% ownership of the original debt.) Our offer, which was to run until September 26, 2001, could be withdrawn under a variety of conditions, one of essays on change in the nhs which became operative if the New York Stock Exchange closed during the offering period. When that indeed occurred in covering letters, the week of September 11 th , we promptly terminated the in the, offer. Many of FINOVA's loans involve aircraft assets whose values were significantly diminished by the events of write essay education September 11 th . Other receivables held by the company also were imperiled by the economic consequences of the attack that day.
FINOVA's prospects, therefore, are not as good as when we made our proposal to the bankruptcy court. Essays On Change Management Nhs? Nevertheless we feel that overall the transaction will prove satisfactory for Berkshire. Leucadia has day-to-day operating responsibility for FINOVA, and we have long been impressed with the business acumen and managerial talent of for jobs its key executives. It's déjà vu time again: In early 1965, when the investment partnership I ran took control of essays on change management nhs Berkshire, that company had its main banking relationships with First National Bank of Boston and a large New York City bank. Effects Of Alcoholism Essay? Previously, I had done no business with either. Fast forward to essays management 1969, when I wanted Berkshire to buy the Illinois National Bank and Trust of Rockford. We needed $10 million, and I contacted both banks. There was no response from New York.
However, two representatives of the Boston bank immediately came to Omaha. They told me they would supply the money for our purchase and that we would work out the details later. For the write essay, next three decades, we borrowed almost nothing from banks. Essays On Change Nhs? (Debt is a four-letter word around Berkshire.) Then, in February, when we were structuring the how to better place essay, FINOVA transaction, I again called Boston, where First National had morphed into FleetBoston. Chad Gifford, the company's president, responded just as Bill Brown and Ira Stepanian had back in essays on change in the, 1969 ? you've got the money and we'll work out the details later. And that's just what happened. FleetBoston syndicated a loan for $6 billion (as it turned out, we didn't need $400 million of it), and pride reputation essay it was quickly oversubscribed by 17 banks throughout the world. Essays On Change Management In The? Sooooo . . Make Better Essay? . if you ever need $6 billion, just give Chad a call ? assuming, that is, your credit is AAA.
One more point about our investments: The media often report that Buffett is buying this or that security, having picked up the fact from reports that Berkshire files. These accounts are sometimes correct, but at other times the transactions Berkshire reports are actually being made by Lou Simpson, who runs a $2 billion portfolio for GEICO that is quite independent of me. Normally, Lou does not tell me what he is buying or selling, and management in the I learn of his activities only how to make the world better, when I look at essays nhs a GEICO portfolio summary that I receive a few days after the end of each month. Lou's thinking, of course, is lozano thesis, quite similar to mine, but we usually end up in different securities. That's largely because he's working with less money and can therefore invest in smaller companies than I. Oh, yes, there's also another minor difference between us: In recent years, Lou's performance has been far better than mine. Berkshire follows a highly unusual policy in essays management, respect to charitable contributions ? but it's one that Charlie and I believe is both rational and fair to owners. First, we let our operating subsidiaries make their own charitable decisions, requesting only that the owners/managers who once ran these as independent companies make all donations to their personal charities from and prejudice essay their own funds, instead of using company money.
When our managers are using company funds, we trust them to make gifts in a manner that delivers commensurate tangible or intangible benefits to the operations they manage. Last year contributions from Berkshire subsidiaries totaled $19.2 million. At the essays in the nhs, parent company level, we make no contributions except those designated by shareholders. We do not match contributions made by write good essay education directors or employees, nor do we give to the favorite charities of the essays management nhs, Buffetts or the Mungers. However, prior to better place essay our purchasing them, a few of our subsidiaries had employee-match programs and we feel fine about their continuing them: It's not our style to essays on change management nhs tamper with successful business cultures. To implement our owners' charitable desires, each year we notify registered holders of covering letters A shares (A's represent 86.6% of our equity capital) of essays management in the a per-share amount that they can instruct us to baressays com coupon code contribute to as many as three charities. Essays Nhs? Shareholders name the charity; Berkshire writes the check.
Any organization that qualifies under the Internal Revenue Code can be designated by paulo lozano thesis shareholders. Essays On Change In The? Last year Berkshire made contributions of $16.7 million at pride and prejudice the direction of on change 5,700 shareholders, who named 3,550 charities as recipients. Since we started this program, our shareholders' gifts have totaled $181 million. Most public corporations eschew gifts to religious institutions. These, however, are favorite charities of our shareholders, who last year named 437 churches and synagogues to receive gifts. Additionally, 790 schools were recipients. A few of our larger shareholders, including Charlie and pride and prejudice essay me, designate their personal foundations to essays on change in the get gifts, so that those entities can, in turn, disburse their funds widely. I get a few letters every week criticizing Berkshire for contributing to thesis Planned Parenthood.
These letters are usually prompted by an organization that wishes to see boycotts of Berkshire products. On Change Management In The Nhs? The letters are invariably polite and lozano sincere, but their writers are unaware of a key point: It's not Berkshire, but rather its owners who are making charitable decisions ? and these owners are about as diverse in their opinions as you can imagine. For example, they are probably on essays on change nhs, both sides of the abortion issue in roughly the same proportion as the American population. We'll follow their instructions, whether they designate Planned Parenthood or Metro Right to Life, just as long as the better essay, charity possesses 501(c)(3) status. Essays Management In The? It's as if we paid a dividend, which the shareholder then donated. Our form of disbursement, however, is more tax-efficient. In neither the purchase of goods nor the hiring of personnel, do we ever consider the religious views, the gender, the effects of alcoholism on family, race or the sexual orientation of the persons we are dealing with. It would not only be wrong to do so, it would be idiotic. We need all of the talent we can find, and we have learned that able and trustworthy managers, employees and essays in the nhs suppliers come from a very wide spectrum of humanity. To participate in our future charitable contribution programs, you must own Class A shares that are registered in the name of the actual owner, not the nominee name of a broker, bank or depository. Shares not so registered on August 31, 2002 will be ineligible for the 2002 program.
When you get the contributions form from us, return it promptly. Designations received after the due date will not be honored. The Annual Meeting. This year's annual meeting will be on Saturday, May 4, and essay we will again be at the Civic Auditorium. The doors will open at 7 a.m., the movie will begin at 8:30, and the meeting itself will commence at on change management in the nhs 9:30. For Jobs? There will be a short break at noon for food. (Sandwiches can be bought at essays the Civic's concession stands.) Except for that interlude, Charlie and I will answer questions until 3:30. Give us your best shot. For at how to essay least the next year, the Civic, located downtown, is the only site available to us. We must therefore hold the meeting on either Saturday or Sunday to avoid the traffic and parking nightmare sure to occur on on change in the, a weekday.
Shortly, however, Omaha will have a new Convention Center with plenty of make the world better place parking facilities. Assuming that we then head for the Center, I will poll shareholders to see whether you wish to return to the Monday meeting that was standard until 2000. We will decide that vote based on a count of shareholders, not shares. (This is not a system, however, we will ever institute to on change management decide who should be CEO.) An attachment to the proxy material that is enclosed with this report explains how you can obtain the credential you will need for admission to the meeting and other events. As for plane, hotel and car reservations, we have again signed up American Express (800-799-6634) to covering give you special help. They do a terrific job for us each year, and I thank them for it. In our usual fashion, we will run buses from the larger hotels to the meeting. Afterwards, the buses will make trips back to the hotels and to Nebraska Furniture Mart, Borsheim's and the airport. Even so, you are likely to find a car useful. We have added so many new companies to Berkshire this year that I'm not going to detail all of the products that we will be selling at the meeting.
But come prepared to carry home everything from essays in the bricks to candy. And underwear, of course. Assuming our Fruit of the effects of alcoholism on family essay, Loom purchase has closed by May 4, we will be selling Fruit's latest styles, which will make you your neighborhood's fashion leader. Buy a lifetime supply. GEICO will have a booth staffed by a number of on change its top counselors from pride and prejudice reputation essay around the country, all of them ready to in the nhs supply you with auto insurance quotes. In most cases, GEICO will be able to give you a special shareholder discount (usually 8%). This special offer is permitted by 41 of the 49 jurisdictions in which we operate. Bring the pride and prejudice essay, details of essays in the nhs your existing insurance and check out whether we can save you money. At the Omaha airport on Saturday, we will have the usual array of aircraft from NetJets® available for your inspection. Paulo? Just ask a representative at essays management the Civic about baressays code viewing any of these planes.
If you buy what we consider an appropriate number of items during the essays management in the nhs, weekend, you may well need your own plane to take them home. And, if you buy a fraction of pride reputation essay a plane, we might even throw in a three-pack of briefs or boxers. At Nebraska Furniture Mart, located on a 75-acre site on 72 nd Street between Dodge and Pacific, we will again be having Berkshire Weekend pricing, which means we will be offering our shareholders a discount that is customarily given only to employees. We initiated this special pricing at NFM five years ago, and essays on change management nhs sales during the Weekend grew from $5.3 million in 1997 to $11.5 million in effects on family, 2001. To get the discount, you must make your purchases on Thursday, May 2 through Monday, May 6 and also present your meeting credential. The period's special pricing will even apply to the products of several prestigious manufacturers that normally have ironclad rules against essays on change management in the nhs, discounting but that, in the spirit of our shareholder weekend, have made an write good exception for you. We appreciate their cooperation. NFM is essays on change management in the, open from 10 a.m. to 9 p.m. on weekdays and baressays com coupon 10 a.m. to essays nhs 6 p.m. on Saturdays and place Sundays. Borsheim's ? the largest jewelry store in the country except for Tiffany's Manhattan store ? will have two shareholder-only events. The first will be a cocktail reception from 6 p.m. to on change in the 10 p.m. on Friday, May 3. Effects Essay? The second, the main gala, will be from 9 a.m. to 5 p.m. on Sunday, May 5. Shareholder prices will be available Thursday through Monday, so if you wish to avoid the large crowds that will assemble on Friday evening and Sunday, come at other times and essays management in the identify yourself as a shareholder.
On Saturday, we will be open until 6 p.m. Borsheim's operates on a gross margin that is fully twenty percentage points below that of its major rivals, so the more you buy, the and prejudice reputation, more you save (or at least that's what my wife and daughter tell me). Come by and let us perform a walletectomy on essays management nhs, you. In the baressays code, mall outside of essays on change management in the Borsheim's, we will have some of the world's top bridge experts available to play with our shareholders on Sunday afternoon. We expect Bob and Petra Hamman along with Sharon Osberg to host tables. Patrick Wolff, twice U.S. chess champion, will also be in the mall, taking on all comers ? blindfolded! Last year, Patrick played as many as six games simultaneously ? with his blindfold securely in place ? and this year will try for seven.
Finally, Bill Robertie, one of only two players who have twice won the backgammon world championship, will be on hand to test your skill at paulo lozano that game. Essays In The Nhs? Come to the mall on Sunday for the Mensa Olympics. Gorat's ? my favorite steakhouse ? will again be open exclusively for Berkshire shareholders on Sunday, May 5, and good will be serving from 4 p.m. until 10 p.m. Please remember that to come to Gorat's on essays management nhs, Sunday, you must have a reservation. To make one, call 402-551-3733 on April 1 ( but not before ). Write Good Education? If Sunday is management nhs, sold out, try Gorat's on one of the essay, other evenings you will be in town.
Show your sophistication by essays on change nhs ordering a rare T-bone with a double order of hash browns. The usual baseball game will be held at Rosenblatt Stadium at 7 p.m. on Saturday night. This year the Omaha Royals will play the Oklahoma RedHawks. Last year, in an attempt to emulate the career switch of Babe Ruth, I gave up pitching and tried batting. Bob Gibson, an Omaha native, was on the mound and I was terrified, fearing Bob's famous brush-back pitch. Instead, he delivered a fast ball in the world place essay, the strike zone, and with a Mark McGwire-like swing, I managed to connect for a hard grounder, which inexplicably died in essays on change management in the nhs, the infield. Code? I didn't run it out: At my age, I get winded playing a hand of bridge. I'm not sure what will take place at in the nhs the ballpark this year, but come out and be surprised.
Our proxy statement contains instructions for how to obtaining tickets to in the the game. Those people ordering tickets to covering for jobs the annual meeting will receive a booklet containing all manner of information that should help you enjoy your visit in Omaha. There will be plenty of action in town. So come for Woodstock Weekend and join our Celebration of Capitalism at the Civic. Finally, I would like to thank the wonderful and incredibly productive crew at World Headquarters (all 5,246.5 square feet of it) who make my job so easy. Berkshire added about 40,000 employees last year, bringing our workforce to on change in the nhs 110,000. At headquarters we added one employee and now have 14.8. (I've tried in essay, vain to get JoEllen Rieck to on change in the change her workweek from four days to five; I think she likes the national recognition she gains by being .8.)
The smooth handling of the of alcoholism on family essay, array of duties that come with our current size and management in the nhs scope ? as well as some additional activities almost unique to Berkshire, such as our shareholder gala and designated-gifts program ? takes a very special group of people. And that we most definitely have.