The Proponents of the Monument to Forrest Research Paper

The Proponents of the Monument to Forrest - Research Paper Example Courts of law have held that it is up to the judicial system to decide if certain acts carried out in private capacity under the First Amendment are publicly acceptable. Court rulings provide that private acts under the First Amendment are acceptable as long as they do not encroach on the rights of other citizens (Mitchell). For example, a person can decide to shed their clothes in private, but this behaviour cannot take place in public since it leads to obscene behaviour. Under the First Amendment and the right to public expression, a person could theoretically shed their clothes and go public, but under court rulings, this has been exposed as public indecency (Mitchell). In the current situation, the monument to Forrest is being erected on private land, but this private land is publicly exposed to the town centre. The monument to Forrest would be clearly visible from the town centre, and so it would become a public affair. If Nathan Bedford Forrest was recognized as a hero by membe rs of all communities living in Selma, it would be acceptable to erect such a monument to pay homage. However, Forrest is a disputed personality in terms of his historical acceptability to various communities and may provoke outrage in African Americans living in the town. Erecting such a monument in Selma may lead to racial strife between black and anti-black groups, which may trigger violent outcomes. In order to prevent violence and racial friction, it would be pertinent to ensure that the monument to Forrest is not erected near major public centres.

Netscape IPO Essay Example | Topics and Well Written Essays - 1750 words

Netscape IPO - Essay Example That Netscape would now be in the dustbin of history, having been demolished by Microsoft during the browser war when it buckled under the killer strategy of Bill Gates’ bundled Windows operating system with the its browser, Internet Explorer and having bought by AOL in March 1999 – many questions still abound on what went wrong, and what could have been avoided. The company was led by both the talented (Marc Andreessen and the experienced manager (Jim Clark) and had the backing of the well-known venture capitalists in Silicon Valley. No less than Morgan Stanley would be the lead underwriters for its IPO. In the end, the dilemma faced by the board of directors of whether to give in its Wall Street underwriters’ proposal of raising the initial stock price form $14 to $28 and increasing the number of shares to 5 million due to favorable response to the investment roadshow or risk a public verdict of opportunism for doing so (Backstrand 7)– was rendered moot and academic. Netscape opened to an overwhelming response from investors who took the stock price to as much as $75 after a delayed opening of $71 per share. On the other hand, the question of whether the investors made a good decision in paying so much for the stock an untested company had to place it in the context of the condition of the industry, Netscape’s company strategy and how IPOs in general fare as investments. ... Condition of the industry: In the mid-nineties, the Internet industry was at the start of its boom period. There were no clear indicators where it would be headed - a condition that had been comparably described when the PC was thought of in the early 1980s when the IPO of Apple Computers mirrored the wildly exuberant public reception of Netscape's IPO (Blodget n.p.). There were various theories of what the Internet would be - some thought that it would be like glamorized surfing of TV shows and those who would be winners in the era would those sites that would offer great design and content (Blodget n.p.). Fast forward to a decade later - the winners would be a search engine called Google, a book seller now an around retailer, Amazon.com and an on-line community of buyers and sellers called ebay.com. Netscape was proclaimed a winner too soon in the game, like Apple was. Though Apple Computers remains as a company today, the big winners of the IPO era of the PC industry were those who entered it later in the phase - as could be seen in Microsoft IPO in 1986 and Dell in 1988 (Blodget n.p.). The Internet community more than ten years ago was miniscule (57 million users according to the International Data Corporation) compared to what it is today, but even by then, it was growing by leaps and bounds. The web browser market in 1994 was dominated by the Mosaic web browser program that was created by Netscape co-founder, the 23-year old Marc Andreessen (Backstrand 3). When Andreesen teamed up with middle-aged Jim Clark, the founder of Silicon Graphics, Netscape successfully set a new industry standard through its Netscape Navigator program and wrestled market leadership from Mosaic. Netscape's share of the market by 2005 was at 75% while Mosaic,

Market Analysis for Male Condom Product

Market Analysis for Male Condom Product Introduction This report aims to explore the possible business opportunity of condom manufacturing of a Novelty Condom (Lolly), with particular emphasis on the public and private sector markets for the male condom. In considering the market for male condoms in South Africa, it is prudent to separate the discussion into public sector and private sector markets, and within these markets to consider procurement, distribution and sale of the products. Executive Summary Market / Industry/ Description (Makro) South African condom manufacturers are not competitive in the global market. This has led to their reliance on the governments condom procurement contract, which they are awarded on a preferential basis. It is as yet unclear whether government will continue to show preference to local manufacturers. If it does, this may further negatively impact the manufacturers competitiveness, and limit their market to the local public sector. If government decides to award future contracts to the most competitive bidders, some local manufacturers may go out of business. Socio Cultural There is no other product on the market apart from condoms that gives dual protection against sexually transmitted infections (STIs), including HIV, as well as protection against unplanned pregnancy. In South Africa, the burden of STIs and HIV is enormous. The Actuarial Society of South Africa (ASSA), (source: www.actuarialsociety.org.za) has developed a demographic and AIDS model (latest ASSA 2003) that makes use of data from several sources to project the potential course of the HIV/AIDS epidemic and the demographic impact that it is having. According to the latest version of the model, some 5.4 million South Africans were infected with HIV in mid-2006. The has escalated to 5, 934, 183 in 2007 (source: Quantec Database and ECSSEC Analysis, 2009). The model further indicates that prevalence is higher for women in the 15-34 age groups, while it is higher for men in the older ages. Furthermore, the ASSA model predicts that the number of people infected will continue to rise, to exceed 6 million by 2015. Accumulated AIDS deaths will be close to 5.4 million by the same year. In terms of incidence, i.e. the number of new infections occurring, the 15-24 year age group, and particularly women, contributes the highest numbers of new infections. Biology, gender roles, sexual norms and inequalities in access to resources and decision-making power put women and girls at greater risk of infection. Many women have insufficient information about sexual and reproductive health and do not understand the risks associated with their own or their partners sexual behaviour. Many of those who do recognise their vulnerability are powerless to protect themselves. Other STIs also take their toll. In South Africa, the prevalence of STIs is estimated to range from 5% to over 30% in various population sub-groups and localities depending on the type of STI (source: ASSA and Quantec Database). It is important to note that, in addition to the disease and disability STIs themselves cause, they also increase the risk of acquiring HIV during intercourse as a result of inflammation and ulceration. Male condoms are widely available in South Africa, both through public sector condom distribution programmes as well as for sale through retail outlets. The range of products available in the private sector is broad, catering for various user sizes, as well as other novel user preferences such as taste, colour and texture (Our target market: Novel Condom User). The availability of female condoms is much more limited. And finally, although this is a practice and not a product, male circumcision has recently received a lot of attention as research has shown that the practice can reduce the risk of HIV transmission. Although this method cannot be used on its own to prevent HIV transmission, there are concerns in some quarters that miscommunication about the link between male circumcision and HIV transmission could potentially result in the practice being used as a substitute for condom use. Adapted from: Outlook, May 2006 Economic Employment potential Condom manufacturing is both capital and labour intensive. In particular, the sampling and testing of batches of condoms, which is a critical component of the manufacturing process, is facilitated by hand. In Thailand, which is one of the worlds leading exporters of condoms, it has been found that young women are best suited to this work as it is repetitive, precise and requires a high degree of speed and dexterity. The incumbent local manufacturers employ an average of 100 people. A new condom manufacturing facility could thus potentially provide employment for up to 100 semi-skilled young women.The following inputs are required to set up a male condom manufacturing facility. Legal In South Africa there are no compulsory regulations governing the manufacturing and testing of condoms. The Department of Health, as the primary purchaser of locally manufactured condoms, acts as an indirect regulator of the industry by requiring that all public sector male condoms be designed and manufactured according to technical specifications set by the World Health Organisation. These specifications include design, performance and packaging requirements, as well as general requirements that specify the safety of constituent materials and other characteristics, such as shelf life. In addition public sector condoms, irrespective of whether they are made locally or imported from overseas, need to be tested to the same quality standards and approved by the South African Bureau of Standards (SABS). Outside of the public sector, manufacturers may apply to the SABS for a â€Å"standardization mark† to illustrate that their product complies with the SABS requirements. Compliance with the standard is however voluntary and not compulsory. Technological Political Competitor Review The South African condom manufacturing industry is an oligopoly made up of four companies, whose main customer is the Department of Health. The manufacturing facilities operate at or below their total production capacity, and further capacity will be created by the end of 2007. This points to a saturated industry that would not welcome a new entrant. Table 5 below is a summary of the operations of the four manufacturers. Table 3: Local manufacturers of male condoms Company Rrt Medcon Zalatex Karex Wupro Date established 2001 1990 2001 1999 Location Kwazulu-Natal Gauteng Mpumalanga Kwazulu-Natal Products manufactured Male condom Male condom Examination gloves Surgical gloves Male condom Male condom Linen savers Diapers Choice condom (pieces per year) 63,750 000 38,250 000 72,250 000 38,250 000 Own brand condom (pieces per year) Viva (â€Å"small Positions African Skin (â€Å"very small quantities†) Carex (1,200 000) Socially marketed condoms (pieces per year) Lovers Plus Trust (10,000 000) Export (pieces per year) Carex (1,000 000) Ad hoc Total manufacturing capacity (pieces per year) 180,000 000 72,000 000 150,000 000 40,000 000 Employees 106 110 160 60 Competing products: There are currently no other products that have been developed for men to protect against STIs, HIV and pregnancy. The male condom remains the primary prevention tool for men. Newer forms of male condoms include synthetic non-latex condoms made from materials such as polyurethane and styrene ethylene butylene styrene (SEBS), which have a longer shelf life, can be used with oil-based lubricants, and can be used by men who have latex sensitivity/allergy. These products are however not readily available in South Africa. Foreign manufacturers In addition to competition from other local manufacturers, foreign manufacturers of male condoms are also important role-players in the South African market. A review of data from the South African Bureau of Standards (SABS) of all the foreign manufactured condoms available in South Africa shows that India, China and Malaysia are the key competing countries. Table 7 below illustrates the share of the total Rand value of imported condoms for the key competing countries. Table 5: Percentage share of imports by country 2006 Country Rand value of imports % of total imports China 21,045 189 35.94 Malaysia 13,948 863 23.82 India 5,192 677 8.87 Source: SA Customs Excise The key competitive advantages of the foreign manufacturers include: * Proximity to raw material (natural rubber latex) * Competitive labour costs * Output typically greater that 450 million pieces per year, so can benefit from economies of scale. Product Price Expected margins: A manufacturer in the industry can expect to realise profit margins between 5% and 20% (General Manager, Karex). Below is an illustration of the estimated revenues for Karex. Table 4: Case study Karex Condom type Number of pieces sold Selling price (R/piece) Revenue Choice 72,250 000 R0.20 R14,659 525 Lovers Plus + Trust 10,000 000 R0.50 R5,000 000 Carex (export) 1,000 000 R0.90 R900 000 Carex (retail) 1,200 000 R1,00 R1,200 000 Total revenue R21,759 525 Given that all male latex condoms are essentially similar in terms of their manufacturing process, it stands to reason that volumes are a major determinant of the margins that a manufacturer can realise. Therefore in the current market, a manufacturer would need to have Government as a client in order for their operation to be viable. Table 2: Average price charged per 3-pack of condoms Condom Brand Average price per 3-pack Lovers Plus R7.20 Trust R5.33 Durex R24.99 Lifestyle R9.95 Distribution Promotion Company Image /Brand Suppliers Management Skills and Resources Larry Davin CEO – PHD in Nothing Khuthele Bovu Director – PHD in business science marketing and Finance ECT ECT Core Competencies SWOT Analysis The above analysis should enable us to determine what variables will have an effect on the success or failure of the business. Potential Internal strengths and weaknesses have been looked at as well as external opportunities and threats. Ansoff Market Matrix Key Issues and New Opportunities. 5 Points to be determined from the Ansoff Matrix MARKETING OBJECTIVES (Must be SMART) PMS objectives Marketing objectives Objectives from new opportunities and key issues. 3.3.1 Male condom manufacturing A new entrant into the male condom manufacturing industry in South Africa would face a saturated industry in which a handful of companies operate. Furthermore a new entrant would need to compete with foreign manufacturers who are able to achieve cost-competitiveness through scale, cheaper labour and ready access to raw material. As government is the most significant customer in the market, failure to secure a contract with the DoH would jeopardise the viability of any operation. In addition, the requirement for a manufacturer to demonstrate existing capacity would mean setting up a facility at risk, with no certainty of securing the major customer. In the retail environment, the manufacturer would need to compete with well established brands such as Durex and Lifestyle. South Africa is a net importer of male and female condoms. Import s from the three primary source countries of latex condoms are shown in the table below. South Africa also imports from other countries such as the UK, Thailand, Germany and Korea. Table 9: Imports to South Africa of rubber sheath contraceptives (Rand value) Import source 2004 2005 2006 Total imports 79,023,113 59,044,723 58,556,392 China 43,002,818 29,602,084 21,045,189 Malaysia 16,101,512 12,468,383 13,948,863 India 2,606,106 6,604,586 5,192,677 Source: SA Customs Excise The Rand value of exports of condoms from South Africa is very small in comparison. Local manufacturers export primarily to other African countries. Table 10: South African exports of rubber sheath contraceptives (Rand value) Export market 2004 2005 2006 Total exports 1,826,715 2,789,604 3,111,135 Mozambique 1,456,616 1,379,926 1,646,028 Malawi 0 666 940,000 Angola 12,085 995,291 360,514 Congo 0 104,244 145,826 Source: SA Customs Excise It is important to note that these s do not only reflect the value of South African manufactured condom exports, but also those foreign manufactured condoms that are packaged in South Africa and then exported. Possible reasons for the poor export performance of South African manufacturers are discussed earlier in this report. It remains to be seen whether local manufacturers will become more competitive in the future, or whether the proposed preferential procurement of local condoms by the DoH and the degree of protection that provides to local manufacturers will further jeopardise the success of local condom products in the global market. Table 9: Inputs required – male condom factory Input required Components Infrastructure Land Construction and civil works Machinery Automatic dipping line High voltage dry electronic testing machine Condom foil sealing machine Automatic burst tester Electrolyte water test machine Tensile tester Length measuring gauge Miscellaneous condom testing laboratory equipment Other equipment and accessories Motor vehicles Generator Office equipment and accessories Materials Rubber latex Lubricant Packaging material Human resources Factory labour Management team: must have financial, production and marketing know-how. Target Market Identification Segmentation South African Market for Condoms In South Africa public sector condoms constitute the bulk of the condoms available. In 2006 approximately 428 million male condoms were distributed through public sector channels, against 36 million units sold in retail outlets. Source: Society for Family Health, 2007 With a crippled economy forcing millions of cash-strapped Americans to entertain themselves at home, its not surprising that one particular product is seeing a sales increase — condoms. (Source: www.usatoday.com). While car purchases plummeted and designer clothes mostly stayed on the racks, sales of condoms in the U.S. rose 5% in the fourth quarter of 2008, and 6% in January vs. the same time periods the previous year. (Source: The Nielsen Co). South Africans could not be outdone by their American counterparts. According to the research conducted by the IOL (www.iol.co.za), it has also been a boom time for South Africas leading condom manufacturers, with sales up 55 percent on last year. â€Å"There has been a 50-percent increase in sales, which is probably a combination of marketing activities together with the Aids message finally filtering through to consumers, said Dave Glass, general manager of Adcock, which distributes the Lifestyles and up-market Contempo brand condoms. Competitor Durex SA reported a 35-percent growth in its condom sales in the same period, according to its spokesperson J Giles. While a three-pack of Contempo condoms will cost anywhere from about R20 to R27, Glass said increased sales in the lower-priced Lifestyles brand (about R10 for 3) may have been a sign that people were willing to pay for protection in the wake of last years recall of government condoms. Government, through the Department of Health, is the key role-player in the public sector. Private sector condoms are those that are available at commercial prices from retail outlets as well as those sold at subsidized prices through social marketing programmes. The dominance of the public sector market is likely to continue into the future, given the priority and resources that government has made available towards the fight against HIV/AIDS, and also considering that the targeted end-user (mainly Black youth) generally cannot afford to pay retail prices for condoms. If a new manufacturer is to enter the South African condom market, five segments of the market will need to be assessed to determine which hold the greatest potential for future sales. Positioning and strategy Key ingredients for success The most critical ingredient for the success of a new condom manufacturer is securing the Department of Health contract. Without this, none of the other potential market segments would be sufficient to render the operation viable. innovation is important (novelty), so that a good quality product is developed which can be sold at a reasonable price. In addition, generating demand for the product is important, so substantial effort will need to be devoted to creating and promoting the appropriate marketing message for the product. Other factors that will contribute to a successful operation are: A project management team to ensure sound operations, marketing and financial control. Close co-operation with national and international organisations working in the area of reproductive health and HIV/AIDS prevention. Furthermore, a manufacturer who is bidding for a portion of the government contract needs to show existing production capacity. This will require considerable set-up costs to be incurred, without the certainty of securing the major client. POSITIONING STRATEGY Government HIV prevention is the backbone of governments National HIV AIDS and STI Strategic Plan for South Africa 2007-2011. The primary aims of the National Strategic Plan (NSP) are to: Reduce the rate of new infections by 50% by 2011. Reduce the impact of HIV/AIDS by expanding treatment, care and support to 80% of all HIV positive people and their families by 2011. An important intervention to reduce the rate of new infections is the distribution of male and female condoms. The Department of Health (DoH) is responsible for the management of quality control and related logistics for public sector condoms. Male and female condoms are distributed free of charge to various sites. The distribution of male condoms includes hospitals and clinics as primary distribution sites, with secondary distribution extending to non-governmental organisations, workplaces, and other locations. Female condoms are distributed to selected sites and require one-on-one counselling on their use. Governments male condom distribution pattern and the projected future distribution are illustrated in the table below. The DoH procures condoms through a tender process. The current two year contract, which started in October 2005, has been extended and will expire in February 2008. The Department currently procures male condoms from all four of the local manufacturers as well as from foreign manufacturers. Table 1: Government male condom suppliers Contractor % allocated Type Unit price per 200 pieces (R) Maximum contract quantities ( ‘000 p/a) Karex 17% Local 40.58 72 250 Wupro 9% Local 43.03 38 250 rrtMedcon 15% Local 47.31 63 750 Zalatex 9% Local 41.01 38 250 Equity Distributor 17% Imported (China) 39.58 72 250 Khusela 17% Imported (Malaysia) 39.58 72 250 Supex International 16% Imported (China) 40.00 68 000 Source: Department of Health, July 2007 In the current contract, all four local manufacturers were allocated a portion of the contract, despite a wide variation between the lowest and highest prices, and despite the fact that all the locally manufactured condoms were more expensive than the imported product. Discussions with National Treasury and the Department of Trade and Industry (DTI) give conflicting views of how future tenders will be adjudicated. In Treasurys view, future tenders should be more stringently governed by cost-competitiveness, where the price per unit is limited to a specified range which is benchmarked against international prices. The DTI however believes that preference should be given to local manufacturers, in particular small and medium sized companies (value of assets less than R200 million). Discussions are on-going between the DoH, Treasury and the DTI. It is unlikely, though, that an agreement will be finalised before the awarding of the government condom tender in the first quarter of 2008, a nd the current preferential treatment of South African manufacturers will remain. A new manufacturer will need to show existing manufacturing capability, although there will be no minimum level of capacity that be required. The South African non-governmental organisation (NGO) sector is not a significant segment in the condom market, as many of the organisations active in the HIV/AIDS and reproductive health space form part of governments condom distribution channel and do not themselves procure condoms directly from suppliers. An important exception to this rule is the Society for Family Health (SFH), the South African affiliate of the international NGO network, Population Services International (PSI). PSI was founded in 1970 in Washington DC, with the intention to improve reproductive health using commercial marketing strategies. With programs in malaria, reproductive health, child survival and HIV, PSI promotes products, services and healthy behaviour that enable low-income and vulnerable people to lead healthier lives. PSI has a presence in over 60 countries around the world. In South Africa, PSI concentrates on issues related to HIV/AIDS. The organisation, through SFH, uses social marketing to motivate behaviour change with respect to consistent condom use, HIV testing, and other safer behaviours. SFH promotes consistent condom use through its own two male condom brands, Lovers Plus and Trust. The organisation procures 24 million male condoms per year from local and foreign suppliers. In addition, SFH obtains free female condoms from the DoH, which are then marketed under the Care brand and sold at retail outlets. SFH sells approximately 6000 female condoms per month. SFH also assists the DoH with the distribution of its free condoms. The organisation distributes approximately 8 million public sector male condoms per month in Gauteng, Kwazulu-Natal and the Western Cape. Retail The retail sector accounts for 7.8% of the male condom market in South Africa. Male condoms are widely available for sale in retail outlets. The most widely available condoms are the socially marketed brands, Lovers Plus and Trust. A study carried out by PSI in November 2006 looking at coverage of Lovers Plus and Trust condoms in Cape Town, Durban and Johannesburg found that most areas of the three cities met the minimum standards for coverage, where coverage was defined as the number of geographically defined areas where at least 30% of outlets stock Lovers Plus and Trust. These outlets included traditional outlets such as pharmacies, top-end retailers and general dealers, as well as non-traditional outlets such as garage forecourts, hair salons and shebeens. Approximately 36 million male condoms are sold in South Africa per year, with approximately 70% of those sales being of Lovers Plus and Trust condoms. (Senior Marketing Manager, SFH). The balance of the sales is made up by Durex, Lifestyle, Contempo, and various other locally manufactured and imported condoms. Corporate The corporate sector in South Africa has woken up to the reality of the HIV epidemic. Many companies have HIV awareness and management programmes for their employees. However, although corporate HIV programmes include condom distribution as a key element, the majority of companies distribute free government condoms to their employees. A snap survey of 10 corporate members of the South African Business Coalition on HIV/AIDS (SABCOHA) found that all but one company, Chevron South Africa, distribute free Government male condoms to their employees. The companies indicated that they saw no need to buy condoms directly from suppliers when free public sector condoms were easily available. The companies do not normally distribute female condoms. Some have bought female condoms in the past for training purposes. Export South Africas export of male condoms to date has been erratic, and local manufacturers have found it difficult to find a market for their products. The global condom market is dominated by low-cost manufacturers from Thailand, Malaysia, India and China, who are located in close proximity to natural rubber latex plantations. Local manufacturers have not been able to compete. Although all four of the local manufacturers have at some point exported their product, particularly to Mozambique, Malawi, Angola and Congo Brazzaville, at present only Karex exports condoms, about 1 million pieces per year, to Congo Brazzaville. Market Mix Strategy Target Market Strategies Global market for condoms The global condom market is estimated to be worth $3 billion, (source: www.marketresearch.com). The public sector is an important market segment globally, with between 6 and 9 billion male condom units consumed by that segment annually Though the prevention of pregnancy is still an important function of condoms, the driving force for growth is the prevention of STIs, in particular HIV/AIDS. Given the rapid spread of HIV in China, India and recently South Africa (in the context of Sub-Saharan Africa), and the large sizes of their respective populations, it is expected that annual public sector demand for condoms, both male and female, will reach 19 billion units by 2015. (Source: Female Health Company, 2007).

Graduation Speech: A Graduation Poem :: Graduation Speech, Commencement Address

Some of us may think we've reached the end of our learning but the truth is, we have not; And as we prepare to move on we should remember the lessons we've already been taught. In elementary school we learned how to share and how to color in the lines; We learned how to spell our names and count and had naps and storytime. We had reading groups to share ideas, we learned to add, subtract and round up. We discovered we had to sit in time-out for biting or saying shut up. We learned to multiply and were exposed to culture by writing to pen-pals far away; and we honed our competitive skills by playing four square every day. We eventually put away our dolls and picked up responsibilities. Then we were separated boys from girls and taught about the birds and the bees. In middle school we woke at the crack of dawn and hung out in the locker bay. We learned about Characters of Consequence and got detention for PDAs. Social division and Cultural Fair taught us that we're all different, and yet the same. We thought that we knew everything and we were never the ones to blame. In high school everything was different and we learned we weren't always right after all. We started longing for back in the day when we could take naps and play tetherball. But no, we had to study and get jobs and brace ourselves for standardized tests; We stayed up late writing essays and learned what it means to be stressed. Then our final year came upon us and we filled out many a college application; We learned the feeling of accomplishment through disappointment and determination. Now the real world beckons us and we must learn to survive on our own.

Why did wall street crash in 1929?

In 1929, there was a complete lack of confidence in the U.S. economy, leading to many, many investors selling their shares. This is known as the wall street crash. This was caused by a number of short and long causes, of which I will elaborate on later. Firstly, we must consider the old policy of tariffs in Europe. This is very important because of the fact that Europeans could not afford u.s. goods, as the tariffs for the buying of u.s. goods was too much for Europeans to pay. Another reason the Europeans could not afford to buy u.s. goods is because most European countries had hefty war loans they had to pay back to America, which they were struggling to pay back as it was. There was widespread poverty in the u.s.a. in the 1920's. almost 50% of American households had an average income of under $2000 p.a. this purchased only the bare essentials in life. The worst hit were the black people and new immigrants, who were highly discriminated against. Many black people lived in poverty in rural cities in america. New immigrants to america were given the lowest paid jobs, as Americans were highly prejudice against Europeans, plus they would work for anything just to live in america. With the collapse of trade unionism, there was little leeway for workers to bargain for better wages. The two reasons previously mentioned, let to overproduction of goods in the u.s.a. as american citizens could not afford to buy any u.s. goods as they were in dreadful poverty. People overseas could not buy u.s. goods as it would be too expensive for Europeans as the u.s.a. had imposed tariffs which taxed the import/export of u.s. goods. The small amount of people that could afford the products had already bought exactly what they had wanted. There were too many goods, and not enough people to buy them. In the early 1920's, the american stock market was doing fantastically because of the boom in business created by the u.s. internal market. But, however in the mid-20's the speculation of stocks began to increase. This is to say that people were investing in a company merely in the hope of share prices rising. As more and more people invested this way share prices rose out of all proportion to their real value. Since the u.s.a. had set up its internal market it had been easy for americans to borrow money on credit. Small investors used this borrowed money to buy stocks(â€Å"on the margin†) small investors knew that if they lost this money they would not be able to pay this back. If the banks had not been paid back by the creditors, they would not have the money to loan to people trying to buy â€Å"on the margin†, and so many banks close. In the autumn the experts of stock market began selling their stock as they could see that share prices were over valued. This panicked small investors, and they began selling madly. This lead to banks losing money from the loss of shares. This in turn lead to the collapse of the stock market. This is the wall street crash

Spirit Bound Chapter Seventeen

THE ENTIRE ROOM SEEMED to hold its breath. Yet even in the face of miracles, guardians–or Strigoi, for that matter–were hard to distract. Fights that had paused now resumed with just as much fury. The guardians had the upper hand, and those of them who weren't engaged with the last surviving Strigoi suddenly leapt toward Lissa, trying to pull her away from Dimitri. To everyone's surprise, she held on to him tightly and made a few feeble attempts to fight off those crowding around her. She was fierce and protective, again putting me in mind of a mother defending her child. Dimitri was holding on to her just as intently, but both he and Lissa were outmatched. The guardians finally pried them apart. There were confused shouts as guardians tried to determine whether they should kill Dimitri. It wouldn't have been hard. He was helpless now. He could barely stand when they jerked him to his feet. That woke me up. I'd simply been staring, frozen and dumbstruck. Shaking off my daze, I sprang forward, though I wasn't sure who I was going for: Lissa or Dimitri. â€Å"No! Don't!† I yelled, seeing some of the guardians move in with stakes. â€Å"He's not what you think! He's not Strigoi! Look at him!† Lissa and Christian were shouting similar things. Someone grabbed me and pulled me back, telling me to let the others handle this. Without even thinking, I turned and punched my captor in the face, discovering too late it was Hans. He fell back a little, seeming more surprised than offended. Attacking him was enough to attract the attention of others, however, and soon I had my own group of guardians to fight off. My efforts didn't do any good, partially because I was outnumbered and partially because I couldn't take them on the same way I'd attacked Strigoi. As the guardians hauled me out, I noticed then that Lissa and Dimitri had already been removed from the room. I demanded to know where they were, yelling that I had to see them. No one listened to me. They dragged me away, out of the warehouse, passing a disturbing amount of bodies. Most were Strigoi, but I recognized a few faces from the guardian regiment at the Court. I grimaced, even though I hadn't known them well. The battle was over, and our side had won–but at a great cost. The surviving guardians would be doing cleanup now. I wouldn't have been surprised if Alchemists showed up, but at the moment, none of that was my concern. â€Å"Where's Lissa?† I kept demanding as I was shoved inside one of the SUVs. Two guardians slid in with me, one sitting on each side. I didn't know either of them. â€Å"Where's Dimitri?† â€Å"The princess has been taken to safety,† one of the guardians said crisply. He and the other guy stared straight ahead, and I realized neither was going to acknowledge the question about Dimitri. He might as well not exist for any of them. â€Å"Where's Dimitri?† I repeated, speaking more loudly in the hopes that might get an answer. â€Å"Is he with Lissa?† That got a reaction. â€Å"Of course not,† said the guardian who'd spoken before. â€Å"Is he†¦ is he alive?† It was one of the hardest questions I'd ever asked, but I had to know. I hated to admit it, but if I were in Hans's place, I wouldn't have been looking for miracles. I would have been exterminating anything I perceived as a threat. â€Å"Yes,† said the driver at last. â€Å"He†¦ it†¦ is alive.† And that was all I could get out of them, no matter how much I argued and demanded to be released from the car–and believe me, I did a lot of that. Their ability to ignore me was pretty impressive, really. To be fair, I'm not even sure that they knew what had happened. Everything had occurred so fast. The only thing these two knew was that they'd been ordered to escort me out of the building. I kept hoping someone I knew might join us in our SUV. Nope. Only more unknown guardians. No Christian or Tasha. Not even Hans–of course, that was understandable. He was probably afraid I'd accidentally punch him again. When we were loaded up and on the road, I finally gave up my badgering and sank back into the seat. Other SUVs had left with ours, but I had no clue whether my friends were in them. The bond between Lissa and me was still numb. After that initial shock where I'd felt nothing, I'd slowly regained a slight sense of her, telling me we were still connected and that she was alive. That was about it. With all that power that had blasted through her, it was almost like the bond had been temporarily fried. The magic between us was fragile. Each time I tried to use the bond to check on her, it was as though I'd stared too brightly at something and was still blinded. I just had to assume it would reestablish itself soon because I needed her insight on what had happened. No, scratch insight. I needed to know what had happened, period. I was still in a bit of shock, and the long ride back to Court allowed me time to process what few facts I had access to. I immediately wanted to jump to Dimitri but needed to start at the beginning if I really wanted to analyze all that had occurred. First: Lissa had charmed a stake and withheld the info from me. When? Before her college trip? At Lehigh? While captive? It didn't matter. Second, in spite of her failed pillow attempts, she had gotten the stake into Dimitri's heart. It had been a struggle, but Christian's fire had made it possible. I winced, recalling the burns Lissa had suffered during that ordeal. I'd felt the pain of those before the bond blanked out, and I'd also seen the marks on her. Adrian wasn't the world's best healer, but hopefully his magic would be enough to take care of her injuries. The third and final fact here†¦ well†¦ was it a fact? Lissa had stabbed Dimitri and used the same magic she would for a healing†¦ and then? That was the big question. What had happened, aside from what felt like a nuclear explosion of magic through our bond? Had I really seen what I thought I'd seen? Dimitri had†¦ changed. He was no longer a Strigoi. I felt it in my heart, even though I'd only had that brief glimpse of him. It had been enough to allow me to see the truth. The Strigoi features were gone. Lissa had done everything Robert had sworn she needed to do to restore a Strigoi, and certainly after all that magic†¦ well, it was easy to believe anything was possible. That image of Dimitri came back to me, clinging to Lissa with tears running down his face. I'd never seen him so vulnerable. Somehow, I didn't believe Strigoi cried. Something in my heart twisted painfully, and I blinked rapidly to stop from crying too. Glancing around, I tuned back into my surroundings. Outside the car, the sky was lightening. It was nearly sunrise. The guardians with me had signs of weariness on their faces, yet the alert expressions in their eyes never faltered. I'd lost track of the time, but my internal clock told me we'd been on the road for a while. We had to almost be back at Court. Tentatively, I touched the bond and found it was back but still fragile. It was like it flickered in and out, still reestablishing itself. That was enough to put me at ease, and I breathed a sigh of relief. When the bond had first come about years ago, it had been so strange†¦ surreal. Now I'd accepted it as part of my life. Its absence today had felt unnatural. Looking through Lissa's eyes, at the SUV she rode in, I immediately hoped I'd see Dimitri with her. That one glimpse at the warehouse hadn't been enough. I needed to see him again, needed to see if this miracle had truly happened. I wanted to drink in those features, to gaze at the Dimitri from so long ago. The Dimitri I loved. But he wasn't with Lissa. Christian was there, however, and he glanced over at her as she stirred. She'd been asleep and still felt groggy. That, combined with the aftereffect of that searing power earlier, kept our connection a little hazy. Things shifted out of focus for me off and on, but overall, I could follow what was happening. â€Å"How do you feel?† asked Christian. His voice and his eyes as he peered at her were filled with so much affection that it seemed impossible she didn't notice. But then, she was a little preoccupied right now. â€Å"Tired. Worn out. Like†¦ I don't know. Like I've been thrown around in a hurricane. Or run over by a car. Pick something horrible, and that's what I feel like.† He gave her a small smile and gently touched her cheek. Opening myself to her senses more, I felt the pain of her burns and that he was tracing the skin near one, though being careful to keep away from it. â€Å"Is it awful?† she asked him. â€Å"Is all my skin melted off? Do I look like some alien?† â€Å"No,† he said, with a small laugh. â€Å"There's not that much. You're beautiful, like always. It would take a lot for that to change.† The throbbing pain she felt made her think that there was more damage than he was admitting to, but the compliment and the way he'd said it went a long way to soothe her. For a moment, her whole existence focused on his face and the way the rising sun was starting to light it up. Then the rest of her world came crashing down on her. â€Å"Dimitri! I need to see Dimitri!† There were guardians in the car, and she glanced around at them as she spoke. As with me, no one seemed willing to acknowledge him or what had happened. â€Å"Why can't I see him? Why'd you take him away?† This was directed to anyone who would answer, and at last, Christian did. â€Å"Because they think he's dangerous.† â€Å"He's not. He's just†¦ He needs me. He's hurting inside.† Christian's eyes suddenly went wide, his face filling with panic. â€Å"He's not†¦ You aren't bonded to him, are you?† I guessed by the look on his face that Christian was recalling Avery and how bonding with multiple people had pushed her over the edge. Christian hadn't been there for Robert's explanation of the soul going to the world of the dead and how restored Strigoi didn't get bonded. Lissa shook her head slowly. â€Å"No†¦ I just know. When I†¦ when I healed him, we had this connection, and I felt it. What I had to do†¦ I can't explain it.† She ran a hand through her hair, frustrated that she couldn't put her magic into words. Weariness was starting to overtake her. â€Å"It was like I had to do surgery on his soul,† she said at last. â€Å"They think he's dangerous,† repeated Christian gently. â€Å"He's not!† Lissa glared around at the rest of the car's occupants, all of whom were looking somewhere else. â€Å"He's not Strigoi anymore.† â€Å"Princess,† began one of the guardians uneasily, â€Å"no one really knows what happened. You can't be sure that–â€Å" â€Å"I am sure!† she said, voice too loud for the small space. There was a regal, commanding air to it. â€Å"I know. I saved him. I brought him back. I know with every single part of me that he's no longer Strigoi!† The guardians looked uncomfortable, again not speaking. I think they were just confused, and really, how could they not be? There was no precedent for this. â€Å"Shh,† said Christian, putting his hand on hers. â€Å"There's nothing you can do until we're back at Court. You're still hurt and exhausted–it's written all over you.† Lissa knew he was right. She was hurt, and she was exhausted. That magic had ripped her apart. At the same time, what she had done for Dimitri had created a bond to him–not a magical one, but a psychological one. She really was like a mother. She felt desperately protective and concerned. â€Å"I need to see him,† she said. She did? What about me? â€Å"You will,† said Christian, sounding more certain than I suspected he was. â€Å"But just try to rest now.† â€Å"I can't,† she said, even while stifling a yawn. That smile flickered back across his lips, and he slipped his arm around her, pulling her as close as the seat belts would allow. â€Å"Try,† he told her. She rested her head against his chest, and his closeness was a type of healing in and of itself. Worry and concern for Dimitri still coursed through her, but her body's needs were stronger for the moment. At last, she drifted into sleep in Christian's embrace, just barely hearing him murmur, â€Å"Happy birthday.† Twenty minutes later, our convoy arrived back at Court. I thought this meant instant freedom, but my guardians took their time in getting out, waiting for some signal or directions that no one had bothered to tell me about. It turned out they were waiting for Hans. â€Å"No,† he said, firmly putting a hand on my shoulder as I shot out of the car and tried to race away to†¦ well, I wasn't sure where. Wherever Dimitri was. â€Å"Hold on.† â€Å"I have to see him!† I exclaimed, trying to push past. Hans was like a brick wall. Considering he'd actually fought a lot more Strigoi than me tonight, you'd have thought he'd be tired. â€Å"You have to tell me where he is.† To my surprise, Hans did. â€Å"Locked away. Far, far out of your reach. Or anyone else's. I know he used to be your teacher, but it's better if he's kept away for now.† My brain, weary from the night's activities and overwrought with emotion, took a moment to process this. Christian's words came back to me. â€Å"He's not dangerous,† I said. â€Å"He's not a Strigoi anymore.† â€Å"How can you be so certain?† The same question Lissa had been asked. How could we really answer that? We knew because we'd gone to incredible pains to find out how to transform a Strigoi, and when we'd completed those steps, there'd been an atom bomb of magic. Wasn't that enough proof for anyone? Hadn't Dimitri's appearance been enough? Instead, my answer was like Lissa's. â€Å"I just know.† Hans shook his head, and now I could see he actually was exhausted. â€Å"No one knows what's going on with Belikov. Those of us that were there†¦ well, I'm not sure what I saw. All I do know is that he was leading Strigoi a little while ago, and now he's out in the sun. It doesn't make any sense. No one knows what he is.† â€Å"He's a dhampir.† â€Å"And until we do,† he continued, ignoring my comment, â€Å"Belikov has to stay locked up while we examine him.† Examine? I didn't like the sound of that. It made Dimitri seem like a lab animal. It made my temper flare, and I nearly started yelling at Hans. A moment later, I got myself under control. â€Å"Then I need to see Lissa.† â€Å"She's been taken to the medical center for treatment–which she needs very badly. You can't go there,† he added, anticipating my next response. â€Å"Half the guardians are there. It's chaos, and you'd be in the way.† â€Å"Then what the hell am I supposed to do?† â€Å"Go get some sleep.† He gave me a wry look. â€Å"I still think you've got a bad attitude, but after what I saw back there†¦ well, I'll say this. You know how to fight. We need you–probably for more than paperwork. Now go take care of yourself.† And that was that. The dismissal in his voice was clear, and as the guardians hurried around, it was like I didn't exist. Whatever trouble I'd been in before seemed long forgotten. No more filing in the wake of this. But what was I supposed to do? Was Hans crazy? How could I sleep? I had to do something. I had to see Dimitri–but I didn't know where they'd taken him. Probably the same jail Victor had been kept in, which was inaccessible to me. I also needed to see Lissa–but she was deep in the medical center. I had no power here. I needed to appeal to someone with influence. Adrian! If I went to Adrian, maybe he could pull some strings. He had his royal connections. Hell, the queen loved him, in spite of his slacker ways. As much as it killed me to accept, I was realizing that getting in to see Dimitri right away was going to be nearly impossible. But the medical center? Adrian might be able to get me in to see Lissa, even if it was crowded and chaotic. The bond was still blurry, and talking to her directly would allow me to score faster answers about Dimitri. Plus, I wanted to see for myself that she was all right. Yet when I reached the housing Adrian stayed in at Court, I was informed by the doorman that Adrian had already left a little while ago to–ironically enough–go to the medical center. I groaned. Of course he'd already be there. With his healing abilities, they would have summoned him out of bed. Weak or not, he could definitely help. â€Å"Were you there?† the doorman asked me as I started to turn away. â€Å"What?† For a minute I thought he was talking about the medical center. â€Å"The battle with the Strigoi! The rescue. We've been hearing all sorts of things.† â€Å"Already? What did you hear?† The guy's eyes were wide and excited. â€Å"They say almost every guardian died. But that you captured a Strigoi and brought him back.† â€Å"No, no†¦ there were more injuries than deaths. And the other†¦Ã¢â‚¬  For a moment, I couldn't breathe. What had happened? What had really happened with Dimitri? â€Å"A Strigoi was changed back to a dhampir.† The doorman stared. â€Å"Were you hit on the head?† â€Å"I'm telling the truth! Vasilisa Dragomir did it. With her spirit power. Spread that around.† I left him with his mouth hanging open. And like that, I had no more options, no one else to get information from. I went back to my room feeling defeated but far too keyed up to sleep. At least, that's what I initially thought. After some pacing, I sat on the bed to try to come up with a plan. Yet before long, I felt myself falling into a heavy sleep. I awoke with a start, confused and aching in parts of my body that I hadn't realized had taken hits in the fight. I peered at the clock, astonished at how long I'd slept. In vampire time, it was late morning. Within five minutes, I had showered and put on non-torn, non-bloody clothes. Just like that, I was out the door. People were out and about their daily business, yet every couple or group I passed seemed to be talking about the battle at the warehouse–and about Dimitri. â€Å"You know she can heal,† I heard one Moroi guy say to his wife. â€Å"Why not Strigoi? Why not the dead?† â€Å"It's insane,† the woman countered. â€Å"I've never believed in this spirit thing anyway. It's a lie to cover up the fact that the Dragomir girl never specialized.† I didn't hear the rest of their conversation, but others I passed had similar themes. People were either convinced the whole thing was a scam or were regarding Lissa as a saint already. Every so often, I'd heard something weird, like that the guardians had captured a bunch of Strigoi to experiment on. In all the speculation, though, I never heard Dimitri's name come up or knew what was really happening to him. I followed the only plan I had: Go to the guardian building that held the Court's jail, though I was unsure what I'd actually do when I got there. I wasn't even entirely sure that was where Dimitri still was, but it seemed the most likely place. When I passed a guardian along the way, it took me several seconds to realize I knew him. I came to a halt and turned. â€Å"Mikhail!† He glanced back and, seeing me, walked over. â€Å"What's going on?† I asked, relieved to see a friendly face. â€Å"Have they let Dimitri out?† He shook his head. â€Å"No, they're still trying to figure out what happened. Everyone's confused, even though the princess still swore up and down after she saw him that he's not Strigoi anymore.† There was a wonder in Mikhail's voice–and wistfulness too. He was hoping that it was true, that there might be a chance for his beloved to be saved. My heart ached for him. I hoped he and Sonya could have a happy ending just like– â€Å"Wait. What did you say?† His words drew my romantic musings to a halt. â€Å"Did you say Lissa saw him? You mean after the fight?† I immediately reached for the bond. It was gradually growing clearer–but Lissa was asleep, so I learned nothing. â€Å"He asked for her,† Mikhail explained. â€Å"So they let her in–guarded, of course.† I stared, my jaw nearly dropping to the ground. Dimitri was seeing visitors. They were actually letting him see visitors. The knowledge lit up the dark mood that had been building in me. I turned away. â€Å"Thanks, Mikhail.† â€Å"Wait, Rose–â€Å" But I didn't stop. I ran to the guardians' holding building at a full-out sprint, oblivious to the looks I got. I was too excited, too invigorated with this new info. I could see Dimitri. I could finally be with him, back the way he was supposed to be. â€Å"You can't see him.† I literally came to a halt when the guardian on duty in the front reception area stopped me. â€Å"Wh-what? I need to see Dimitri.† â€Å"No visitors.† â€Å"But Lissa–er, Vasilisa Dragomir got to see him.† â€Å"He asked for her.† I stared incredulously. â€Å"He must have asked for me too.† The guardian shrugged. â€Å"If he did, no one's told me.† The anger I'd kept back last night finally awoke. â€Å"Then go find someone who knows! Dimitri wants to see me. You have to let me in. Who's your boss?† The guardian scowled at me. â€Å"I'm not going anywhere until my shift is over. If you've got clearance, someone will let you know. Until then, no one without special permission is allowed to go down there.† After taking out a fair portion of Tarasov's security, I felt pretty confident I could easily dispatch this guy. However, I felt equally confident that once I got to the depths of the jail cells, I'd run into a lot more guardians. For a second, taking them out seemed very reasonable. It was Dimitri. I would do anything for him. A slight stirring in the bond made me see reason. Lissa had just woken up. â€Å"Fine,† I said. I lifted my chin and gave him a haughty look. â€Å"Thanks for the ‘help.'† I didn't need this loser. I'd go to Lissa. She was staying at almost the opposite end of the Court's grounds from the holding area, and I covered the distance at a light jog. When I finally reached her and she opened the door to her room, I saw that she'd gotten ready almost as quickly as I had. In fact, I could feel that she'd been pretty close to leaving. Studying her face and hands, I was relieved to see that almost all of the burns were gone. A few red spots lingered on her fingers, but that was it. Adrian's handiwork. No doctor could have made that happen. In a pale blue tank top, with her blond hair pulled back, she didn't look at all like anyone who'd been through such a major ordeal less than twenty-four hours ago. â€Å"Are you okay?† she asked. In spite of everything else that had happened, she'd never stopped worrying about me. â€Å"Yeah, fine.† Physically, at least. â€Å"You?† She nodded. â€Å"Fine.† â€Å"You look good,† I said. â€Å"Last night†¦ I mean, I was pretty scared. With the fire†¦Ã¢â‚¬  I couldn't quite finish. â€Å"Yeah,† she said, looking away from me. She seemed nervous and uncomfortable. â€Å"Adrian's been pretty great healing people.† â€Å"Is that where you're going?† There was agitation and restlessness in the bond. It would make sense if she wanted to hurry over to the medical center and help out too. Except†¦ further probing gave me the startling truth. â€Å"You're going to see Dimitri!† â€Å"Rose–â€Å" â€Å"No,† I said eagerly. â€Å"It's perfect. I'll go with you. I was just over there, and they wouldn't let me in.† â€Å"Rose–† Lissa looked very uncomfortable now. â€Å"They gave me some bullshit about how he'd asked for you and not me and that that's why they couldn't let me in. But if you're going, they'll have to let me.† â€Å"Rose,† she said firmly, finally breaking through my chatter. â€Å"You can't go.† â€Å"I–what?† I replayed her words, just in case I'd misheard them. â€Å"Of course I can. I need to see him. You know I do. And he needs to see me.† She slowly shook her head, still looking nervous–but also sympathetic. â€Å"That guardian was right,† she said. â€Å"Dimitri hasn't been asking for you. Only me.† All my eagerness, all that fire, froze up. I was dumbstruck, confused more than anything. â€Å"Well†¦Ã¢â‚¬  I recalled how he'd clung to her last night, that desperate look on his face. I hated to admit it, but it kind of made sense why he would have asked for her first. â€Å"Of course he'd want to see you. Everything's so new and strange, and you're the one who saved him. Once he comes around more, he'll want to see me too.† â€Å"Rose, you can't go.† This time the sadness in Lissa's voice was mirrored through the bond, flooding into me. â€Å"It's not just that Dimitri didn't ask to see you. He asked specifically not to see you.†