Employment Discrimination Lawyers and Labor Law Lawyers

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Does anyone know where the law is for a verification of employment?

is there a texas state or federal law stating that the employer is not allowed to give out an employers salary even with borrowers authorization to qualify for a home mortgage loan, more or less, an FHA loan?
if there is please give me a link.
or if there as anything regarding them having to with permission.

there is no law either state or federal, if they have a signed authorization they are free to give it to whomever has the authorization, if it was done without your permission there is little you can do unless it caused serious financial harm

Sallie Mae-Westwood Diploma Mill Federal Student Loan Fraud #2

What is the difference between employment law and labor law?

The two terms are often used interchangably or in connection with each other. For example, attorneys say they specialize in "labor and employment law." Labor law would mean all of the labor laws, such as the Fair Labor Standards Act, minimum wage, wage and hour laws, etc. Employment law would deal more with issues between individual employers and employees, in my understanding.

Good luck,
Dana (attorney with some labor and employment law experience)

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Would Texas fair better today as its own country, instead of an American state?

This is just a curiosity question and nothing against the U.S. I was wondering with Texas' business laws, taxes, natural resources, labor laws etc., would Texas fair better as its own nation, even if they had to make their own international treaties and print their own money, than remaining in the U.S.?

One thing that has sparked this question, is that Texas is growing fast and has become a major player like California but unlike California, this recent economic downturn hasn't brought Texas to its knees and in fact, Texas major cities are fairing the best in employment and job growth for the future. California (where I am from) is over $40 billion in the hole and begging Washington like a panhandler for handouts.

Texas, by itself, is the world's 15th largest economy. We'd do just fine.

US Border Patrol Job Fair

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Union vote at Foxwoods upheld
An administrative law judge has upheld the outcome of a July 31 election at Foxwoods Resort Casino in which employees in the casino's beverage department voted to affiliate with Local 371 of the United Food and Commercial Workers Union.
Labor Law Posters: Federal Labor Law Poster

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Does Your State Have Time-Off-To-Vote Laws? Wolters Kluwer Law & Business Details Election Day Rights Voters Need To ...
As political candidates from around the United States deliver their last stump speeches, air remaining TV ads and make final appeals before Election Day, voters are making up their minds on not only who to vote for, but when.
Fiscal Commission Public Forum 5 of 7

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In The Papers 22 September
Trintech receives takeover attention | Tyndall and Intel sign research agreement | Shared services centres to create jobs | HP, Oracle settle Hurd dispute | Twitter plans targeted ads
Goldman Sachs economic mafia ^^

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Can a background check company in Texas reveal a non criminal conviction (from another state) to an employer?

I know in some states it is illegal for a background check company to reveal a non criminal conviction (violation) to an employer. Is this the case for employment background checks done for employment in Texas, and if so where in the law does it state this? Does it matter if the background check company is physically located in Texas or is there a loop hole for this?

In Texas and other states, employers have the right to do criminal background checks themselves, but most employers hire a service to do that .

The Fair Credit Reporting Act (FCRA) requires an employer to get written authorization from an applicant to do a credit check if an outside agency will be used – in addition, if the applicant is turned down, the employer must tell the applicant why and let them know the name and address of the service that furnished the information.

The FCRA prohibits credit reports from including non-criminal violations, such as a conviction that only results in a fine. The FCRA applies nationwide.

Note that the restriction on reporting non-criminal convictions only applies to credit reports. If the employer does the research himself, he is entitled to any information that he obtains from public sources, and all convictions (of any type) are public information. The employer can also purchase a background check that could reveal the same information as long as it is not included in a credit check.

You can perform a free background check yourself to see what information is available.
Like many answers, it all depends on the details:
What information do you want?
How much work are you willing to do to get it?
How fast do you want it?

If you are willing to do some work yourself, you can perform a background check on someone for free.

Criminal Background Check:
Criminal records are kept by the Clerk of Courts in each courthouse. Every city, town, county, state, and the federal government have their own courthouses. We know there are 50 states, 3000 counties, and over 30,000 cities, towns, or townships in the USA. That is a lot of courthouses, and most of them do not share their information. However, it is all public information, and you are allowed to review it.

If you know where the subject person has lived and traveled, then you know which courthouse records to check.

Do-it-Yourself Free Background check issues:
a)One problem is finding out your subject-persons lifetime travel history. He could have committed a crime anywhere he has ever been.
b)2nd problem is the amount of work you must do to check every courthouse in those locations.
c)3rd problem is that you could miss important records if you miss any of the locations that your subject-person has been to.
d)4th problem is cost. If the courthouse has digitized their records and published them on a website, then you can often review them for free. But if you must travel to the courthouse, that requires your time and travel costs. Finally, if you get copy of the record, some courthouses charge $1 per page. Wow! That can be expensive.
e)So a do-it-yourself background check may cost you a significant amount of money if you want to perform a complete background check.

Other Records:
You will probably want to check out some other records on you subject-person.
Do your want to know about:
Marriages and Divorces
Bankruptcies
Tax liens
Civil law suits
Professional licenses
Corporate ownership
Property ownership.

All of that information is public, and you can review it. But, you have the same issues that you had with the Criminal Records. The information is not all in one place. You have to find out where it is, and you may have to travel to those locations.

Information Aggregators
On the internet, some companies specialize in collecting all of this public information, putting it in their database, and making it available for instant access. For example, Illinois Youth Soccer (http://www.iysa.org) has a Risk Management publication that refers to
http://backgroundsearch.com

You can review some of this information for free and get the results immediately on the internet.

How to Perform a Do-It-Yourself Free Background Search & Check:

Step #1 – At an information aggregator, like BackgroundSearch.com , you can put in your subject-person’s name and find every city that he lived-in. That website provides this information for free. You can enter as many names as you like, as many times as you like. Now you know which courthouse records to review.

Step #2 – At the same website, you can find a list of the Criminal Record Offices of every city, county, and state in the USA, along with their website (as reported to the U.S. government.).

Step #3.- Go to the courthouse website, or to the courthouse (if they do not have a website), and review their public records.

Step #4 – Back at BackgroundSearch.com, you can find the Record Offices for Vital Records (Marriage, Divorce, Births, Deaths). Repeat step #3 for Vital Records and any other type of records that you need.

Purchasing a Background Check:
If you want to get a complete report, instantly, you can purchase a comprehensive background check from BackgroundSearch.com (or other information aggregators). Every company (without exception) will charge you something for a complete background check. The companies have to cover their costs to gather all of the public information, put it in a database, keep it up to date every day about everyone, and make it available to you on the internet for instant access.

Sex Offenders:
The U.S. government does keep a list of all convicted sex offenders in one place. You can find it here: http://www.nsopr.gov/
Source(s):

Good luck with your background check research.

Workforce Solutions Upper Rio Grande Employer of the week Alpine Access

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Would Texas fair better today as an independent country?

This is just a curiosity question and nothing against the U.S. I was wondering with Texas' business laws, taxes, natural resources, labor laws etc., would Texas fair better as its own nation, even if they had to make their own international treaties and print their own money, than remaining in the U.S.?

One thing that has sparked this question, is that Texas is growing fast and has become a major player like California but unlike California, this recent economic downturn hasn't brought Texas to its knees and in fact, Texas major cities are fairing the best in employment and job growth for the future. California (where I am from) is over $40 billion in the hole and begging Washington like a panhandler for handouts.

it would fare better than any other state

Hiring Rights

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No retirement for these older folks, just work
The preparation before work each morning starts in a methodical fashion. By 6 a.m., Morris Wilkinson, a 91-year-old letter carrier, irons his postal worker uniform -- a crisp, collared shirt and gray slacks -- a habit he formed while in the Marines during World War II.
Employment Outlook: Hedge Fund Losses May Result in Massive Job Cuts

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The Importance of Employment History Verification

Employment history verification is essential for many reasons. Job applicants may lie on their resume to cover up previous employment problems, and even periods of imprisonment that they obviously do not want to reveal in an application for a new job. You are obliged not only by law, but morally, to make as sure as you possibly can that your employees are not harmed through your employment of an unsuitable candidate.

Your verification procedure should detect any false dates of employment provided, any exaggeration of positions or responsibilities held and the possibility of fictitious employers being named. Why does this happen? Why do some candidates feel it necessary to fabricate their resumes or CVs in this way? It is, in fact, not all that uncommon, and there have been some prominent cases reported in the press. Let’s examine some reasons why people do this.

A very common reason for stating false periods of employment with specific companies is to hide dismissal for inappropriate behavior, violence to other employees or theft. Any one of these could provide a good reason for finding an employer guilty of negligible hiring, and this itself introduces a problem. While it is essential that you identify these applicants, the previous employers might be loathe to provide details to you that could indicate them to have been negligent. Sometimes only a professional investigator can get to the truth of these situations.

Another reason is to hide a period of conviction, so someone released from prison can be confident of finding employment quickly. It is easier to provide a fictitious employer, or extend the period of the previous employment. Such temptations can be irresistible to a person desperate to find employment.

If questioned on the reasons for the job changes indicated on the resume, an applicant can provide a change of state or county, or even the desire for advancement, as a reason. They all sound plausible, there having been plenty of time for rehearsal of the story! Both of these excuses, or reasons, are common and are difficult to disprove if previous employers are loathe to provide full employment details. This is particularly true of lies told regarding positions of responsibility. Many employers will agree to provide employment dates if pushed, but no more. Not even severance details.

If you feel that something is not ringing true, or just feel a little bit nervous about the person you are interviewing, you are advised to have a professional carry out full employment history verification, and even a criminal record investigation. These are not tasks that can be given to an employee untrained in the techniques, and the job is too important to your company to hesitate on. A full employment background check should be carried out because you have a duty of care to your workforce.

If the position offered demands a certain level of management experience or seniority, then a few applicants will be tempted to exaggerate their previous employment. There are many recorded instances of candidates for senior positions falsifying their resumes in this way, and being offered the position only to be found out at a later date. This type of falsification is stupid because you will eventually be found lacking in the skills you should have had were your claims true.

You must carry out a full employee background check on all applicants to whom you are considering offering a job. The law requires that you take all steps to avoid negligent hiring, and failing to carry out employment history verification checks is regarded as employment negligence. The cost to your company can be crippling if someone you hired went on to injure an other employee, or even just steal from them.

Sometimes other employers can be difficult when asked for employment history, but if you provide them with a completed release of information form they should have no grounds for refusal. A professional can deal with this, since they do it every day. In fact, frequently, just asking the candidate to sign the release form when they make the application is sufficient to put them off.

If an applicant refuses to complete such a release form, then don’t employ them. The same should apply if previous employers refuse to provide full employment histories, and in such a case you should inform the applicant why they are not being considered for the job.

You must carry out a suitable and sufficient employment history verification to meet your own legal obligations, and you can have no excuses for failing to do so. You can try to do it yourself, or have one of your employees do it, but you are better advised to employ a professional in employee screening to carry out a professional job for you. You will then be able to sleep well at night without worry.

About the Author

Advanced Research arsbackgrounds.com is made up of a team of experts in HR, Risk Management and Legal Investigations. We provide a free consultation to assist you in mitigating your potential hiring risks.

Docket Schmocket What Can a Legal Administrative Assistant Do for CPS Victims Court Reform?

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Redundancy Alternatives For UK Employers

In the current recession, both restructuring and redundancies are becoming increasingly common. Large and small businesses may find themselves with little option but to shed staff just to keep their business going. It is an extremely stressful time both for employees facing potential redundancy and for employers and other HR and other managers involved in the redundancy process.

Redundancies occur where a job no longer exists or can be dispensed with for justifiable economic reasons of benefit to the employer. However, for employers thinking about making redundancies it is worthwhile looking into alternatives. Employers can consider the following options:

a) Stopping the use of temporary staff -- temps are often expensive due to the additional costs of using an agency and also maybe less productive than experienced staff. Can work be reallocated to existing staff instead?

b) Cutting workers' hours.

c) Offering sabbatical or unpaid leave.

d) Reducing the level of paid overtime.

e) Bringing in flexible shift patterns or annualised hours contracts.

f) Replacing part of a worker's salary with a performance-related bonus.

g) Converting the remuneration of sales staff from salary to a commission basis, where possible.

h) Developing new sources of work.

i) Cutting out unnecessary travel by replacing face-to-face meetings with phone and web conferencing.

Above all, when thinking about making changes to workers terms and conditions, it is essential for employers to talk to their staff and to explain the current position and discuss with them questions of changing conditions rather than simply imposing those changes -- which risks serious morale problems and legal claims for breach of contract. When carrying out such changes, those employers without their own internal human resources team will need advice from a specialist employment lawyer. Redundancy is a complicated area of law and too often employers wrongly use redundancy as the label for sacking employees. This involves significant risks for employers as employment tribunals are becoming very used to this trick and a claim for unfair dismissal claim can be very costly. Employers are well advised not to misuse the term redundancy, unless there is definitely a redundancy situation. Furthermore employers should make sure they know exactly what they are doing and that they follow the correct procedure.

Those employers who manage to apply some of these tips successfully to their own business should be better placed to survive and even thrive in the recession, be well placed for the recovery when it comes and in the meantime keep staff morale high.

About the Author

Tim Bishop is senior partner of Bonallack & Bishop, a firm of UK employment law solicitors with offices in the south-west, offering legal services to private and business clients. Tim has spearheaded the firm's expansion, seeing it grow by 1000% in the last 12 years. He is responsible for major and strategic decisions and sees himself as an entrepeneur who owns a law firm. Tim has firm plans for continued expansion of the firm.

Fiscal Commission Public Forum 6 of 7

Potential Arizona-style immigration law divides public, law enforcement in Florida
TAMPA Neil Lewis' cramped immigration law office reverberates from the ring of yet another telephone call. Each anxious voice on the other line poses the same question.
Temporary Staffing Agency Dallas Houston Austin Texas

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Attorney questions and answers

a case is dropped, should a defendant have to pay attorney fees and court cost?
even if it never went to court AND the defendent didnt hire the opposing attorney?shouldnt be right if you have to as there was no judgement passed in favor of either side. DID YOU PAY THE ATTORNEY IN ADVANCE? DID YOU SIGN A CONTRACT?.

a four year old bill i got sick couldn't pay last year was granted ssi for a disability. Court papers not in
name, but they keep serving me, once i pay an attorney and take him with me, the courts will change the name on the papers to my name right? My guestion is once they see i've only.

A lawyer overcharged me. What can I do? I live in Texas.?
This attorney knew that we were going to drop him and he overcharged us with a big bill at the end. Attorneys seem to have all of the leverage. I live in Texas. What did he overcharge you for? Usually a lawyer tells you before taking your.

A question on ethics?
If I were an attorney at a firm that was to represent a plaintiff in a civil suit and I found that one of my partners owned 500 shares in the buisness of the defendant and another partner represented the co defendant in a child custody battle 10 years ago, would either of these create.

About jail.?
My boss has been in jail for a week. He said that his attorney didnt show up to court last friday so the judge held him in contempt. Is that possible? Someone is being untruthful. If your boss showed up in court for a proceeding where he was the defendant, he could not be jailed for his.

adoption procedures ?
I am going to be adopting a baby and the birth mother wants us to take it home from the hospital. Does anyone know what procedures need to be done to insure it is done legally? We do not have an agency involved in the process. You must either have an attorney or an agency to.

Do I have the ability to bring legal action against my attorney?
Our (chapter 13 bankruptcy) attorney failed to subimit documents to the court. He directly lied to us and told us that he did. We're in the last year of bankruptcy and in need of purchasing a car. He told us almost 3 weeks ago that he submitted.

Do I hire this 1K attorney or file this divorce myself with a kit after 11 yrs and 3 kids & no assets?
The History: Married 11 years ago, he started drinking heavily by the 2nd year of marriage. The drinking turned into long days/nights gone.I was at home w/ the kids carless, no phone at times. He finally.

Making out a will?
My husband of 12 years is part owner of family farm 3 brothers 1 sister, And he has an inheritance coming are question is this, he has no will, Can we make one or do we need an attorney? If something happened to him I would be booted out faster than you could say bye,.

Maryland Divorce Lawyer?
I am getting a divorce in Maryland and need to know of a good place to locate an attorney. I don't want to ask for a referral from any of my work folks because I'm still a little uncomfortable about the whole thing. I tried the bar association but no one ever called me back. Can.

Michael R. Green, attorney,Tulsa, is not listed on Martindale-Hubbell. What does that mean?
Nothing significant. He may have been in practice less than 5 years. You don't get rated until you have 5+ years. He may have chosen not to pay the outrageous price Martindale-Hubbell charges. The best way to find an attorney is to ask everyone you.

My child in Florida wants me to file for custody of her, she is over 14. Where can I get free legal forms?
I already know its her choice and etc, and that a judge will privately ask her etc. so, I cannot afford an attorney, and need the forms, i know you can get them online free, but.

My girlfriend was in a car wreck and pregnant her friend was driving and its her fault what will her claim be?
Claim against the girl friends insurance company. Medical bills, pain and suffering, loss of employment and any thing else that your attorney can dream up. This could pay for the wedding. - Not enough information to.

My husband just recieved a writ of execution.what can they take? Can they take what I purchased before marriag
you better get an attorney fast, in most states whats yours is his and if you put his name on it as an owner then yes they can. - They cannot take what you received before marriage, or anything.

My mother and stepfather died with no will?
my mother died on 11/19/06 because of that it was my responsiblity to look after my step-father due to health issues. He gave me power attorney to take care of things on his behalf.he has no children just me, he changed me to sole beneficary on his life insurance in place.

My mother is on ssi/ medicaid in nm. does anyone know the 'spend-down' policy if she receives an inheritance
Dana, I'm a N.M. attorney and was appointed to represent an 87 year old woman in a nursing home. There a ton of nuances to what allowable assets she can have, but the cash amount is about $5,000. She.

My only sibling has signed power of attorney ,over to an accaintance and he is now in jail for 6yrs?
he owns a business in fl, and has personal assets, that i dont want the poa holder to get ,they havent known each other long, and has been running business since recent incarceration any suggestions? i live in mi..

NEED A LAWYER for Laparoscopic hernia repair and 3 bowel perforations?
If there any attorneys or anyone know of an attorney please, I would appreciate your help. I had a laparoscopic hernia repair along with gall bladder removal, and my small intestine was nicked 3 times. I developed sepsis and peritonitis and was hospitalized for one mth. I have.

Need an attorney to handle privacy act violation in or near springfield ky?
need to know if have a possible case for someone in the medical field giving out personal and confidential medical information without consent or knowledge If you need an attorney that handles privacy act violations try doing a search from the site below. I would put.

Need help getting a affordable attorney?
I live in dallas, texas and i need to find a attorney that i can afford to pay. I'm a mother who is trying to get her kids back (having a custody issue) and having trouble because its hard enough maintaining my house and trying to save for an attorney. Can someone help.

Needing some information about my power of attorney..?
i have a general POA for my husband who is deployed. i am trying to sign an application for free complimentary $2,000 ADD coverage through our credit union. the CU is saying that they can't accept a POA. i have the legal aid office checking on this, but i won't get.

On o.j. not being able to eat in restaraunt question?
o.j. simpsons attorney is upset over this and says he is gonna sue the restaraunt owner.who will win in court?.the owner?..does he have the right to serve who he pleases.Or.o.j..is that discrimination and racist. Maybe the owner decided his presence was causing a disturbance and the safety of the.

Once a bankruptcy is discharged - can it be reversed?
I was discharged from bankruptcy almost 2 years ago and now the Trustee is asking for alot of detailed information that I had already given my attorney in 2005. The 'Original' attorney I hired left the law firm and the 'New' attorney couldn't locate most of my file. If.

Opening Statement as a defense attorney?
How would I be able to make an opening statement that lasts about 3-4 minutes out of this paragraph said by the defendant: 'How in the world would I ever know that there might be a shell in the can of oysters I sold this lady, and how did she rely on my.

Other than being an attorney, what other carrer opportunities are available for law degrees?
or anything having to do with attorneys or judges There are many with law degrees that have ventured into mass media--particularly TV. Many of the analysist on the news programs have law degrees. There are even a few are announcers for automobile races. Also they.

Overseas Pennsylvania Power of attorney U.S. Consulate?
Need an online form I can fax to Vietnam. Need to mortgage the house, it's in my brothers name, but he's overseas and won't be returning, Thus I need a power of attorney. The online forms I see are for in state notaries. What form is adequate for Pennsylvania that would be.

Paul Begala, former Clinton White house figure defined Bill Clintons 'excellence' in the U.K. telegraph?
(quoting)Paul Begala, another key Clinton White House figure, said: 'President Clinton excelled as attorney general and governor of Arkansas, he excelled as president and he's been a model of the modern Senate spouse.' is this what he meant? - The only president ever impeached.

Please Answer Only If You Are A Lawyer or Judge: What exactly is the job of a public defender?
As was answered earlier, a public defender is an attorney appointed to represent an indigent person accused of a criminal offense. Indigent persons have had a right to counsel in all 50 states and at the federal level since.

PLEASE HELP this is very important seriously..?
someone close to me rec'vd an email from a man saying that he is a attorney of a man that passed away with the same last name as my friend and that my friend can get the money from the deasced man. i guess the attorney was left money but he cant.

More law questions please visit : LawFreeFAQ.com

About the Author

LawFreeFAQ.com

Distance learning with an llb or a bachelors degree in usa?

Hi. I just got done with my AS levels (I live in Pakistan, where we study under the British system) and my family is planning to move to the States - California, for more accuracy. I am interested in pursuing a career in law, and want to get done within the shortest span of time possible. Going to a US college will mean using up 4 years on a bachelor's degree and THEN starting with J.D. Continuing under the British system with distance learning means I get my degree quicker, but no guarantee of proper employment.

Right now, I have 11 GCSE o levels, all A's, and an internship at a law office under my belt. I gave economics and maths AS levels, and am waiting for the result now. If I do have to pursue an undergraduate degree, what field would be suitable? Could my alevels possibly count as AP classes and hopefully knock an year off the bachelor degree? Do I get scholarships as an undergraduate permanent resident? Would love some advice, thanks =)

Unfortunately you will have to do the JD if you want to practice law in the US. Reason for this statement is about 50% of the states do not recognize foreign experience and they do not recognize the LLB. Those states that do recognize the LLB typically will require you to study an Additional 1 - 2 years at a law school in the US. Best advice in this situation is to contact the state bar association in the state you want to practice in order to find out their rules regarding admission of the LLB qualification.

Regarding your question concerning A-Levels you will have to ask the university because each university in the US is different and has different rules regarding admission of foreign students. Plus you will most likely have to take the ACT or SAT and most likely TOEFL. Again, the universities that you are most interested in will be in more of a position to guide you on that matter.

Finally your question regarding scholarship because you are a permanent resident and the answer is no. Scholarships are awarded based on academic achievement, financial need, or if you meet specific requirements. Being a permanent resident does not automatically qualify you for a scholarship and you will need to do some research to see which ones, if any, you qualify.

Bill would help 80,000 Floridians qualify for jobless benefits
Some could be eligible for state-passed extended benefits Nearly 142,000 Florida residents have exhausted all their state and federal emergency unemployment benefits, though about 80,000 could qualify for extended benefits recently passed by the Florida Legislature, the state work force agency said.
Sternberg & Hedler PA Florida Labor Lawyers

Project Management for Event Management Industry

Project Management for Event Management Industry:

Event Management Projects is the process by which an event is planned, prepared, and produced. As with any other form of management, it encompasses the assessment, definition, acquisition, allocation, direction, control, and analysis of time, finances, people, products, services, and other resources to achieve objectives. An event project manager's job is to oversee and arrange every aspect of an event, including researching, planning, organizing, implementing, controlling, and evaluating an event's design, activities, and production.

Event Management Projects has been described as an "emerging profession" due to the fact that no academic, government-issued licensing, or private occupational certification credentials are required to practice this complex and responsibility-laden enterprise. Without such credentials, "professional" status is suspect and subject to degradation by the actions of untrained and inexperienced practitioners who are simply not aware of the scope of what needs to be learned in order to be qualified to work in this profession, as well as the scope of the legal and ethical responsibilities associated with such endeavors.

Event Management Projects encompasses a multitude of types of events. Although the Projects industry has delineated itself into various categories, all represent the planning and production of an event that brings people together at a particular time, in a particular place, for a particular purpose.  The event genres that may be considered as falling within the Event Management Projects profession for the purposes of this project are illustrated in Table 1.

Table 1

The Event Genre of Event Management Projects

Business & Corporate Events

Any event that supports business objectives, including management functions, corporate communications, training, marketing, incentives, employee relations, and customer relations, scheduled alone or in conjunction with other events.

Cause-Related & Fundraising Events

An event created by or for a charitable or cause-related group for the purpose of attracting revenue, support, and/or awareness, scheduled alone or in conjunction with other events.

Exhibitions, Expositions & Fairs

An event bringing buyers and sellers and interested persons together to view and/or sell products, services, and other resources to a specific industry or the general public, scheduled alone or in conjunction with other events.

Entertainment & Leisure Events

A one-time or periodic, free or ticketed performance or exhibition event created for entertainment purposes, scheduled alone or in conjunction with other events.

Festivals

A cultural celebration, either secular or religious, created by and/or for the public, scheduled alone or in conjunction with other events. (Many festivals include bringing buyer and seller together in a festive atmosphere.)

Government & Civic Events

An event comprised of or created by or for political parties, communities, or municipal or national government entities, scheduled alone or in conjunction with other events.

Marketing Events

A commerce-oriented event to facilitate bringing buyer and seller together or to create awareness of a commercial product or service, scheduled alone or in conjunction with other events.

Meeting & Convention Events

The assembly of people for the purpose of exchanging information, debate or discussion, consensus or decisions, education, and relationship building, scheduled alone or in conjunction with other events.

Social/Life-Cycle Events

A private event, by invitation only, celebrating or commemorating a cultural, religious, communal, societal, or life-cycle occasion, scheduled alone or in conjunction with other events.

Sports Events

A spectator or participatory event involving recreational or competitive sport activities, scheduled alone or in conjunction with other events.

 

The Proposed Knowledge Domain Structure

Professional knowledge, which consists of technical knowledge, specialized skills, and ethical standards used to function within a professional jurisdiction, must be transformed into formal knowledge systems combined with experiential or situational knowledge systems.

 

The Uses of the Domain Structure

The proposed domain structure can serve numerous purposes and uses, not the least of which is the illustration of the scope and complexity of this profession to internal and external constituents and stakeholders, current and future practitioners, and allied and supplier industries, thereby increasing respect and reverence for the profession of Event Management Projects and legitimizing and "expertizing" the functions of event management.

 

The Next Stage

Further development, improvement, expansion, and ratification of the Event Management Projects depends on the review and input of a broad variety of industry practitioners, experts, certification bodies, and academicians from the full spectrum of event genres and industries.

 

Event Management Projects is an intricate weaving of the process and the scope of management functions. As illustrated below, the functional units (grouped by domain) form the warp fibers—the foundation threads of the fabric of an event. The processes—or weft threads—are interwoven through these foundations for each event, with the evaluation thread from one event forming the research thread for the next event.  If you eliminate one of the threads, the fabric of the event is weakened, leaving holes or places where it may unravel.

 

 

The Design domain focuses on the artistic interpretation and expression of the goals and objectives of the event project and its experiential dimensions, and is often the area of Event Management Projects that draws individuals to the occupation due to its creative opportunities.

 

Many of the units and topics represent specific specializations, disciplines, or its own distinct industry, with its own body of knowledge and credentials, some requiring specific licenses in many jurisdictions, with which the event manager must interact or subcontract in order to plan and produce an event.

 

At this stage the knowledge domain structure represents a simple mapping of concepts. It is not practical to numerically quantify the units or topics contained in the various certification competency blueprints, vocational qualifications, guides, and texts because, as yet, standard units and terminology have not been adopted by the industry as a whole. This initial taxonomy of general Project Management will serve as a platform that will enable expert participants, from a variety of disciplines around the world, to continue its refinement and develop a shared understanding and interaction.

Table 2

The Taxonomy of the Administration Knowledge Domain for event project management

UNITS

TOPICS

Financial Management

Accounting / Auditing

Asset Management

Bid Preparation

Budget Development

Business Plans

Cash Flow

Cash Handling Procedures

Change Controls

Cost/Benefit Analysis

Cost Controls

Cost Estimating

Credit Policies

Economic Impact

Financial Reporting

Fixed / Variable Costs

Foreign Currency

Inventory Control

Investments

Payables & Receivables

Pricing Structures

Profit Objectives

Purchasing Controls

Rate Negotiation

Resource Definition

Human Resources Management

Behavior Policies

Benefits Management

Conflict Resolution

Discipline

Employment Regulations

Hiring / Induction

Job Analysis

Job Descriptions

Labor Relations

Leadership

Motivation

Organizational Structure

Orientation

Paid Staff / Employees

Payroll Management

Performance Evaluation

Professional Development

Recognition Programs

Recruitment

Seasonal Staffing

Succession Planning

Supervision

Team Building

Temporary / Casual Labor

Temporary Staffing

Termination

Training

Uniforms

Union Labor

Volunteers

Information Management

Briefings / Debriefings

Communication Equipment

Communication Planning

Communication Protocols

Confidentiality Agreements

Database Management

Documentation Procedures

Document Design

Evaluation / Analysis

Feedback Systems

Information Acquisition

Information Asset Protection

Information Distribution

Intelligence Gathering

Lead Retrieval Systems

Library / Archives

Monitoring & Reporting

Presentations

Photography / Videography

Privacy Policies

Record Keeping Procedures

Procurement Management

Bid Solicitation

Change Controls

Contract Management

Performance Evaluation

Procurement Policies

Purchasing Procedures

Quality Control

Reimbursement Policies

RFPs / Briefs

Specifications Definition

Source Definition

Source Selection

Systems Management

Bookkeeping Systems

Change Control Systems

Communication Systems

Database Systems

Decision Making Systems

Document Generation

Governance

Integration Management

Inventory Systems

Knowledge Management

Maintenance Systems

Procedural Manuals

Purchasing Systems

Reservation / Booking Systems

Routing Systems

Security Systems

Technology Management

Computers

Digital

Electronics

Email & Voice Mail

Internet / Intranets

Office Equipment

Telecommunications

Video

Web-based

Wireless

Time Management

Activity Definition

Activity Sequencing

Change Controls

Critical Path Analysis

Deadline Definitions

Duration Estimation

Gantt Charts

Planning Tempo

Production Schedules

Program Agendas

Running Order

Schedule Control

Schedule Development

Time Lines

Table 3

The Taxonomy of the Operations Knowledge Domain for event project management

UNITS

TOPICS

Audience Management

Access Controls

Admission Controls

Admission Systems

Arrival / Departure Modes

Credentialing Systems

Crowd Management

Group Movements

Guest Relations

Housing Systems

Manifests

Pedestrian Traffic Flow

Protocol Requirements

Queue Management

Registration Systems

Seating Systems

Ticketing System

Ushering Systems

Communications Management

Announcement Protocols

Briefings / Debriefings

Channel Distribution

Command & Control

Communication Equipment

Contact Lists

Delegation

Event Orders

External Connectivity

Guiding / Coaching

Interpreter Services

Notifications

On-site Communications

Production Book

Public Address Systems

Scoring Systems

Translation Services

Verification Documentation

Infrastructure Management

Emergency Services

Gas Services

Handicap Services

Housekeeping / Maintenance

HVAC Systems

Lighting Systems

Medical Services

Parking

Participant Equipment

Power Services

Power Distribution

Recycling

Seating

Sewage Services

Shipping Services

Telecommunications

Traffic

Transportation

Utilities Usage Fees

Waste Management

Water

Logistics Management

Action Plans

Ceremonial Protocol

Checklists

Contractor Coordination

Dismantling

Installation

Loading Dock Management

Move-in

Move-out

Precedence Order

Replenishing

Requirements Definition

Running Order

Scope Definition

Staging / Marshalling

Task Analysis

Task Assignment

Task Identification

Task Interdependence

Task Monitoring

Terminology Agreement

Program Design Management

Activities

Alcohol Management

Ancillary Tours

Catering Management

Celebrities / Performers

Ceremonial: Invocation

Certification Requirements

Children's Programs

Companion Programs

Competitions

Educational Objectives

Entertainment Management

Event Components

Exhibits

Feasibility Analysis

Gap Analysis

Learning Environments

Needs Assessment

Speakers / Participants

Sport/Recreational Activities

SWOT Analysis

Theme Development

Site Management

Ceremonial Equipment

Décor

Environmental Controls

Equipment Rentals

Furnishings

Maps

Mobile Facilities

Perimeter Controls

Signage

Site Development

Site Inspection Criteria

Site Plans / Diagrams

Site Selection Criteria

Site Selection / Contracting

Staging Equipment

Storage

Temporary Structures

Tenting

Stakeholder Management

Accountability

Authenticity

Client Management

Committees

Constituents

Cultural Differences

Economic Objectives

Facility Personnel

Government

Host Community

Media

Military

Officials & Authorities

Participants

Political Objectives

Prioritized Objectives

Protocol Management

Tourism / Convention Bureaus

Technical & Production Management

Audiovisual Services

Entertainment Equipment

Equipment Rentals

Lighting Equipment

Multi-Media

Performer Equipment

Projection Systems

Pyrotechnics

Sound Distribution

Sound Equipment

Special Effects

Stage Configurations

Staging Requirements

Technical Producers

Technical Rehearsals

Technicians / Engineers

Table 4

The Taxonomy of the Marketing Knowledge Domain for event project management

UNITS

TOPICS

Hospitality Management

Catering

Ceremonial Equipment

Client Entertainment

Dressing Rooms

Guest Services

Gifts / Amenities

Housing Services

Lounge Facilities

Ready Rooms

Reception Areas

Sponsor Benefits

VIP Services

Marketing Plan Management

Branding Requirements

Customer Intelligence

Customer Needs / Benefits

Customer Relationships

Database Building

Demographics

Differentiation

Image Enhancement

Loyalty / Affinity Programs

Marketing Objectives

Market Research

Market Segmentation

Marketing Mediums

Marketing Messages

Niche Marketing

Positioning

Product Definition

Product Pricing

Psychographics

Retention Marketing

ROI Evaluation

ROO Evaluation

Schedule Definition

Situation Analysis

Strategic Marketing

Target Market Definition

Materials Management

Advertising Specialties

Awards / Prizes

Badges / Passes / Credentials

Brochures

Coupons

Distribution

Flyers

Forms

Invitations

Media Kits

Newsletters

Posters

Printing Production

Printing Specifications

Programs

Registration Packets

Tickets

Videos / CD ROMs / DVDs / MP3

Merchandising Management

Brand Management

Collectables

Commemoratives

Concessions

Customer Service

Display

Distribution

Licensing

Logo Wear

Manufacture

Packaging

Souvenirs

Promotion Management

Advertising

Broadcasting

Ceremonies

Contests / Sweepstakes

Couponing

Cross Promotions

Direct Mail

Displays

FAM Tours

Giveaways

Internal / External

Internet / Intranet

Logo Management

Media Tie-ins

Narrowcasting

Networking

Pod-casting

Product Demonstrations

Product Sampling

Proof of Purchase Discounts

Sales Promotions

Special Appearances

Stunts

Trade Show Participation

Web-based

Public Relations Management

Disaster Recovery

Disaster Response

Media Conferences

Media Contact Lists

Media Kits

Media Previews

Media Relations

Media Releases

Photo Opportunities

Publication Articles

Requests for Coverage

Spokespersons

Sales Management

Box Office Operations

Cash Handling Procedures

Concession Sales

Coupon Redemption

Merchandise Sales

Proposal Delivery

Proposal Development

Proposal Packaging

Sales Techniques

Sponsorship Sales

Ticketing Operations

Web-based Sales

Sponsorship Management

Benefits Delivery

Benefits Packaging

Commercial Sponsorship

Cross Promotions

Donor & Patron Gifts

Grants & Underwriting

Image Management

In-kind Donations

Selling Sponsorships

Servicing Sponsors

Solicitation Proposals

Sponsorship Kits

Target Definition

Target Solicitation

Table 5

The Taxonomy of the Risk Management Knowledge Domain for event project management

UNITS

TOPICS

Compliance Management

Accessibility (ADA)

Alcohol / Liquor Laws

Antitrust Laws

Assembly Occupancy

Codes & Regulations

Consent Forms

Environmental Protection

Exemptions

Fire Safety

Food Service Codes

Intellectual Property

Licenses

Merchandise Licensing

Music Licensing

Permits

Releases

Safety Inspections

Sanctioning Bodies

Special Effects Codes

Union Jurisdictions

Waivers

Work Permits / Visas

Emergency Management

Audience Preparation

Civil Disorder

Command Structure

Communications Plan

Crowd Control

Disaster Preparedness

Emergency Action Plan (EAP)

Earthquake

Evacuations

Fire

Flood

Hazardous Materials

Medical Services

Mutual Aid Agreements

Power Loss

Response Accessibility

Response Equipment

Response Services

Severe Weather

Shutdown Procedures

Spokespersons

Terrorism

Threat Assessment

Training & Drills

Transportation Incident

Triage

Vehicles & Equipment

Warning Systems

Health & Safety Management

AED / CPR Certification

Chemical Hazards

Equipment Training

Fall Protection

Fire Safety Systems

Infectious Materials

Lighting / Visibility

Manual Handling Procedures

Noise Levels

Occupational Hazards

OSH Requirements

Pollution

Protective Equipment

Safety Meetings

Sanitation Systems

Slip & Trip Hazards

Structural Integrity

Waste Management

Insurance Management

Additionally Insured

Business Insurance

Cancellation

Certificates of Insurance

Contractually Required

Errors & Omissions

Event-Specific Insurance

Income Loss

Legal Requirements

Liability Exposures

Liquor Liability

Negligence / Liability

Property Loss / Damage

Workers Compensation

Legal & Ethics Management

Anti-Discrimination Laws

Attrition / Cancellation

Behavior Policies

Confidentiality

Contract Execution

Contract Management

Contract Negotiation

Dispute Resolution

Employment Laws

Equal Opportunity Policies

Fraud

Freedom of Information Act

Fundraising Laws

Gift Acceptance Policies

Liquor Laws

Not-for-Profit Laws

Perquisites

Privacy Laws

Public Assembly Laws

Public Safety Laws

Statutory Compliance

Taxation Laws

Terms & Conditions

Traffic / Transport Laws

Zoning Laws

Risk Assessment Management

Cause/Effect Analysis

Contingency Plans

Crisis Plans

Decision Tree Analysis

Documentation

Fault Tree Analysis

Hazard Mapping

Incident Reporting

Influence Diagram

Prevention Plans

Probability / Severity Analysis

Residual / Secondary Risk

Response Planning

Risk Analysis

Risk Avoidance

Risk Control

Risk Diffusion

Risk Documentation

Risk Fields

Risk Identification

Risk Mitigation

Risk Monitoring

Risk / Opportunity Analysis

Risk Resilience

Risk Retention

Risk Transference

Scenario Exercise

Walk-Through Inspections

Security Management

Access Control

Briefings

Command Center

Communications

Contracted Personnel

Credentials

Crime Deterrence

Crowd Control

Deployment

Detection Sweeps

Emergency Assistance

Equipment

Escorting

Guarding

Incident Reporting

Incident Response

Law Enforcement

Peer Security

Personal / VIP Protection

Private Security Personnel

Property Protection

Stewarding

Surveillance

Vehicles

Volunteer Personnel

 

 

 

 

Overview of Theme Design Management

The application of theme development principles and cultural iconography to communicate and integrate the purpose, message, image and branding of the event project.

Major Functions

Performance Elements

Theme Principles

·         Capture attention and create interest and involvement

·         Communicate and reinforce purpose and message

·         Establish a context and create attendee expectations

·         Integrate into a cohesive whole

Theme Development

·         Determine expectations through research and consultation

·         Identify core concepts, topics, and/or messages

·         Create multiple dimensions

·         Integrate essential characteristics of theme into a clear concept description

Cultural Iconography

·         Explore the cultural icon domains

·         Work from the familiar

·         Recognize and respect cultural and individual diversity

·         Distill the imagery

Creativity

·         Use a broad spectrum of stimuli

·         Conduct brainstorming and other idea-generating exercises

·         Remove restrictions of assumptions and tradition

·         Combine ideas in new ways and make connections between seemingly unrelated ideas

Theme Integration

·         Visualize all the event elements and link them to the theme

·         Incorporate the five senses

·         Integrate branding into all aspects of the event experience

·         Verify the operational and logistical practicality

 

The Case Study Analysis

 

Major Functions

Assessment

Theme Principles

• Celebrate the history of the Games and Italy's rich contributions to theater, art, music, fashion, style, and sports heroes throughout the centuries
• Showcase the city of Turin and the assets of the region
• Meet IOC specifications for ceremonies
• Create a spectacle for worldwide television coverage

Theme Development

• Torino Games motto "Passion Lives Here"
• Essential characteristics of "Rhythm, Passion and Speed"
• Host objective to highlight and promote "all things Italian"
• Portray the Olympic ideals

Cultural Iconography

• Italian iconography

o        Film and theater; Fellini, Roberto Bolle of the La Scala Theatre

o        Art; Botticelli's "The Birth of Venus," Umberto Boccioni's sculpture "Unique Forms of Continuity in Space"

o        Music; Renaissance trumpeters and drummers, Luciano Pavarotti, Puccini

o        Fashion; Armani, Moschino, supermodel Carla Bruni

o        History; Medieval Sbandieratori flag wavers, Renaissance and Baroque acrobats and floats

o        Sports; Olympic medalist participants, Formula One race car

• Olympic iconography

o        Double X symbol of the twentieth Olympiad

o        Olympic rings

o        Olympic colors of blue, black, red, yellow, and green

o        Olympic torch, cauldron, and flame

o        Torino Games logo

o        Dove as the symbol of peace

Creativity

• Aerial acrobatics
• Disco music for athlete parade
• Dove formation with vertical choreography
• Ferrari Formula One race car
• Olympic Flag carried by women only
• Olympic Flame ignition
• Olympic Rings
• Pavarotti Opera stage
• Pulsing heart and giant skier choreography
• Recessed piazza in stage for athlete seating
• Sparks of Passion inline skaters with flaming helmets
• Synchronized "swimmer" routines through spandex piazza cover

Theme Integration

• Passion

o        Bronze flame-projecting anvil

o        Beating heart dance routine

o        Olympic torch entry and flame ignition

o        Pyrotechnics

• Rhythm

o        Drums in opening segment

o        Disco music for athlete parade

o        Medieval Sbandieratori flag wavers

• Speed

o        Sparks of Passion skaters with flaming helmets

o        Skateboarders and inline skaters

o        Giant skier formations

o        Ferrari Formula One race car

• Peace

o        Honor Guard of the Carabinieri and the Alpini

o        Jacques Rogge speech

o        Acrobatic formation of dove

o        John Lennon's "Imagine"

Possible Discussion Topics

• How "all things Italian" were highlighted and promoted
• The iconic elements for:

o        Turin in specific

o        Italy in general

o        The Alpine region

o        The Winter Olympics

o        The Olympics in general

• Historical origins of the various cultural icons and iconic elements used
• The design benchmarks (highest, first, largest, etc.)

 

Integration Example — Speaker Selection

 

 

 

Integration, a Core Value of the framework, reflects the critical need to coordinate, synchronize and merge the variety and multitude of interactions, dependencies and interconnected elements included in an event project to ensure decisions incorporate all the factors influencing and influenced by those choices.

 

When you view the scope of the functional areas of the knowledge domains, as shown below, which illustrate the full scope of the responsibilities assigned to event organizers, it becomes clear that one item, one decision, or one element will be shaped by and will have an impact on every other aspect of the event project.

 

 

 

Let's look at one element: selecting a speaker for a conference. This function would be under Content Development (or Content Management) within the Design domain.

 

Factors regarding this one element will interact with every other domain's functional areas and decisions made about this speaker must be integrated throughout the scope of functional areas. For example, the chart below illustrates some of the questions and issues that must be considered for this single facet of the event project.

 

Keep in mind that this list is by no means exhaustive, nor does it take into account the fact that there are typically numerous speakers selected for even a small conference, and perhaps hundreds for a sizable convention. Also remember that when you answer any one of these questions, that answer must then be considered in the context of every other functional area.

 

ADMINISTRATION

Financial

• What is the speaker's fee or the honoraria to be paid? How and when will that payment be handled?
• If no fee or honoraria, is there any other form of compensation for which the variable costs need to be included in the budget?
• Will we be paying for the speaker's airfare?
• Will we be buying the ticket or reimbursing the speaker for it?
• Are there contractual specifications for or limits on what fare we will pay for (economy, business class, first class)?
• Will we be paying for the speaker's hotel accommodations?
• Are there incidentals (meals, ground transportation, etc.) that we will or will not reimburse?
• Will speaker thank you gifts need to be purchased?

Human Resources

• Who is responsible for or has the authority to conduct speaker selection?
• Who will serve as the pre-event liaison for the speakers?
• Who will serve as the on-site liaison for the speakers?
• Do we need someone to meet the speaker at the airport?
• Do we need an escort for the speaker to the site and / or on site?
• Who will give the introduction for the speaker's session?

Information

• How will we collect session proposals or abstracts?
• How will we handle correspondence with the speaker, e.g. session acceptance / denial, invitations, confirmations, thank you letters, etc.?
• What forms will we need the speaker to fill out, e.g. AV requests forms, room set-up requests, session taping approvals, etc.?

Procurement

• What types of speaker solicitation documents will we use, e.g. call for papers, call for abstracts, session proposal forms, etc.?
• What specifications need to be included in solicitation materials, e.g. acceptable / suggested topics, session deliverables, target audience or content track, etc.?
• What equipment or services will be need to be ordered for this speaker's presentation, e.g. projection equipment, audience response systems, staging, captioning services, etc.?
• How will we handle on-site changes and other requests?

Stakeholders

• Are there any controversial issues surrounding this speaker that might cause problems in connection with his/her appearance, e.g. opposition, potential protests, political affiliations, etc.?
• Are there strategic economic or political alliances that may be developed or enhanced by selecting this speaker?
• How will the performance of this speaker and the value of his/her appearance be evaluated? How will this be used in communications with various stakeholders or stakeholder groups?

Systems

• How will the speakers selected be incorporated into database systems, e.g. registration, badge processing, membership, etc.?
• Will we be using an abstract management system for online submissions, speaker communications, PowerPoint and handout collection, etc.?

Time

• When do we need abstracts or session proposals submitted?
• By when do sessions and speakers need to be selected and confirmed?
• How and when will we schedule sessions and presentations, e.g. time slots, tracks, keynotes, etc.?
• How long will sessions be, e.g. one hour, 90 minutes, half-day, etc.? How long will this speaker's presentation be?
• How will we handle scheduling for speakers providing numerous different or repeat sessions?

DESIGN

Content

• Has a needs assessment identified this topic or this speaker as suitable or desirable?
• Has this topic been identified as necessary to meet educational requirements?
• In what way is this speaker qualified to deliver this content?
• What format will be used for this topic, e.g. keynote speech, facilitated interactive presentation, workshop, etc.?
• How will we ensure speaker will deliver valuable content without blatant commercials for his/her products or services?

Entertainment

• Will the speaker need a specific rehearsal time or period?
• Will the speaker need a special room where he/she can organize or prepare for his/her presentation?
• Will the speaker be expected to be part of or involved in any ancillary activities, e.g. golf tournament, exhibits, receptions, book signings, etc.?
• Does the speaker need any coaching regarding presentation skills?

Environment

• What type of seating configuration does the speaker desire / require, e.g. theater style, classroom, round table, etc.?
• Does the speaker need special equipment, décor, or supplies procured and/or delivered?
• Will the presentation include audience participation, and, if so, what will that require, e.g. steps onto stage, special aisles, etc.?

Food & Beverage

• Will speaker be invited to or included in some / all meal functions for the conference?
• Does the speaker have any dietary requirements?
• Will exclusive water stations / bottled water be provided for speakers?
• Will there be refreshments provided in a speaker ready room?

Production

• Will the speaker be providing a PowerPoint and/or video presentation?
• Does the room need special lighting for his/her presentation, e.g. darkened room, spotlighting, etc.?
• What type of microphone(s) will be required, e.g. lectern, hand held, wireless, standing, etc.?
• Will the speaker be using or demonstrating any special or theatrical effects, e.g. pyrotechnics, fog effects, sound effects, etc.?

Program

• Where in the program agenda does this speaker appear, e.g. day, time slot, track, etc.?
• Are there any scheduling conflicts that will affect attendance at this speaker's presentation?
• Is this session required for specific credits or certificates, and, if so does this session meet educational requirements, e.g. duration, content level, etc.?
• Can this session accommodate anticipated attendance, e.g. room capacity, repetition within agenda, etc.?

Theme

• Is there linkage between this presentation and the theme of the conference?
• Will conference branding need to be included on handouts and/or PowerPoint presentations?
• Has speaker been advised of any cultural or corporate customs on what must be avoided or incorporated into his/her presentation, e.g. attire, jargon, current events, gestures, etc.?

MARKETING

Marketing Plan

• Is this speaker appropriate for or affiliated with the conference's target market?
• Does this speaker offer an entry into specific niche markets that could be exploited, e.g. track categories, exhibitors, etc.?
• Has this speaker presented at previous conferences, and, if so, what were the satisfaction scores from previous evaluations?
• Should this speaker be specifically highlighted in promotional activities?

Materials

• What materials are needed from the speaker, e.g. handouts, PowerPoint presentation, etc.?
• Will the speaker be providing additional handouts or amenities only at the session, e.g. checklists, workbooks, samples, etc., that need to be approved and/or promoted?
• How will speaker be promoted in the program book, e.g. bio, photo, session description, etc.?
• Will speaker presentations and/or handouts be provided to attendees in a handbook, CD, and/or on the web?

Merchandise

• Will the speaker be allowed to sell own books or other products after his/her session?
• Will audiotapes of the sessions be created for sale to attendees?
• Will the speaker be asked to provide items for conference amenities or prizes, e.g. books, discount coupons, etc.?
• Will speaker be given logo-imprinted items as thank you gift or in-room amenity?

Promotions

• How, where, and when will speaker solicitation activities be conducted?
• What materials do we need the speaker to provide for promotional activities, e.g. photo, bio, session description (including key words and/or deliverables), etc.?
• In what format do we need these materials, e.g. digital photo and resolution, word count limits on bio and session description, minimum of three session deliverables, etc.?
• Where will we include these materials, e.g. advance program, web site, blast e-mail and print advertisements, etc.?
• Will speaker be offered personalized promotional materials for his/her own marketing activities or cross promotions?

Public Relations

• Will speaker be suitable and available for interviews with the media?
• Is speaker able to provide articles that may be submitted to industry publications in conjunction with the conference?
• Are position statements and background information prepared for any controversial issues the speaker or his/her appearance may incite?

Sales

• Will attendance at this speaker's presentation require an additional charge or ticket?
• Will speaker's books and/or products be made available for sale by the conference before, during, and/or after the conference?
• Will speaker allow the sale of audiotapes or videotapes of his/her presentation, and, if so, will there be any commission on sales paid to the speaker?

Sponsorship

• Will this speaker's appearance or presentation be suitable for packaging as a sponsorship?
• Will this speaker's appearance or presentation jeopardize any existing or potential sponsorship agreements?
• Will the speaker be expected to make any special appearances or accommodations in conjunction with a sponsorship, e.g. hospitality functions, session introductions by sponsor, recognition of sponsor in presentation, etc.?

OPERATIONS

Attendees

• Will attendees need to pre-register for this specific session in order to manage capacity limitations and/or minimums?
• How will access to presentation be controlled, e.g. name badge, ticket, etc.?
• How will CEU or other continuing education credits be tracked and reported?
• Will expected or expressed popularity of this speaker or topic suggest repetition or expansion of this session or other crowd management strategies?

Communications

• Has speaker been provided with contact name and numbers in case of travel problems or appearance cancellation?
• Has speaker provided his/her contact information for conference updates and in case of program changes or cancellation?
• When and with whom should speakers check-in to ensure their timely arrival?
• Has speaker provided on site contact numbers, e.g. cell phone, hotel number, etc.?

Infrastructure

• Does speaker need ground transportation provided?
• If not, will speakers be provided with a designated parking area, or will parking fees be reimbursed?
• Will this presentation generate any dangerous or hazardous waste, e.g. medical waste, chemicals, fire hazards, etc.?
• Does this presentation or demonstration require any special utility hook-ups or services, e.g. Internet access, water, machinery, etc.?

Logistics

• Does this presentation have extensive or unusual move-in / move-out requirements, e.g. length of set-up time, special displays, expansive AV requirements, etc.?
• Does this presentation or session have any special machinery or equipment requirements, e.g. vehicles or apparatus, poster boards, waste containers, etc.?
• Will speaker be charged for special room set-ups or services?

Participants

• Are speakers given a complimentary registration package to the conference?
• Will there be a separate registration desk for speakers?
• Are speaker credentials (badges) different from other attendees, and, if so, how?
• What instructions need to be provided to the speaker, in what form, and when?
• Is the speaker bringing a guest or assistant who needs admittance credentials?

Site

• In what room (location) will this session be held?
• Will this session restrict use of the meeting room or adjacent areas, e.g. room clearing and cleaning, noise levels, pedestrian traffic limits, etc.?
• Will speaker have an exhibit booth in the trade show?
• If a speaker ready room or green room is to be provided, where will it be?
• Will this speaker be housed in the headquarters hotel?

Technical

• What staging will this presentation require, e.g. stage, platforms, display tables, lectern, etc.?
• What AV equipment is required and will this speaker need technical assistance before the presentation?
• Will technicians be required to operate any equipment during this presentation?
• How will the speaker be advised regarding wireless microphone usage, e.g. turning it off during private conversations or when in the toilet?
• What attendance tracking devices will be used and when, e.g. bar code scanners, RFID readers, etc.?

RISK

Compliance

• How will we verify speakers are not using copyrighted materials other than their own?
• What permissions do we need from the speakers to publish their copyrighted material?
• Does this session include proprietary material that requires prohibition of recording by attendees?
• What devices or services will be required to ensure this presentation is ADA compliant, e.g. assisted listening devices, captioning, sign language interpreters, etc.?
• Does this presentation require any special permits, e.g. pyrotechnics, imported flowers, food preparation, etc.?

Decisions

• How are speakers and session topics approved, e.g. peer review, program committee, etc.?
• What do we do if complaints are received regarding a speaker's presentation or behavior?
• What contingency plans do we need for speaker no-show, equipment malfunctions, etc.?

Emergency

• Does this speaker have any medical conditions that we need to be prepared for?
• Will the speaker be asked to take any role in emergency management, e.g. exit location announcements, attendee sign-in manifest, etc.?
• How will speaker be advised of the communication protocols in case of a crisis, e.g. calling security to report incidents, referring all media inquiries to official spokesperson, etc.?

Health/Safety

• Will the room capacity for this session accommodate the likely attendance?
• If demand exceeds capacity, how will we control access and accommodate those turned away?
• Will any equipment or activities in this session block any exits?
• Will any potentially hazardous materials, supplies, or equipment be used in this session, and, if so, how will these be controlled?
• Will any participatory activities be conducted in this session that could cause injury or illness?

Insurance

• Is this speaker's participation in the conference covered in our current insurance policies?
• Is loss of or damage to this speaker's equipment covered under our current policies?
• Does this presentation require any special liability coverage?
• Does this session require waivers of indemnity signed by participants?

Legal

• Will we have speakers sign a contract regarding their appearance at the conference, and, if so, what will it need to include?
• What consent approvals will we need in order to record (audio and/or video) the speaker's session(s) and make these available for sale or download?
• What consent approvals (implicit or explicit) do we need in order to photograph the speaker and/or audience for print or electronic promotional materials and publications?
• Are there any disclaimers needed in conjunction with this speaker or his/her presentation?

Security

• Will security personnel be required to control access to this session?
• Will security personnel be required to guard any equipment or materials used in this session?
• Will security personnel be required to protect the safety and welfare of this speaker?
• Will this speaker be providing his/her own personal protection personnel, e.g. Secret Service, bodyguards, etc.?
• Will this speaker's appearance involve any special security protocols, e.g. canine room sweep, bag check and walk-through magnetometer, identification and/or background checks, etc.?

 

GAUTAM KOPPALA,

POME AUTHOR

About the Author

GAUTAM KOPPALA, With over ten years, track record of successful leadership, excellent results through strategic skills in driving revenue and profit growth. Demonstrated ability to identify and trouble shoot critical issues impacting productivity, cost, distribution, marketing, Strategic positioning, sales and financial operations, with innate ability to build and maintain strong client relationships in operations. Expert in distilling and managing processes, enhancing internal structures, and promoting multi-skilled team competencies via nurturing mentorship and inspirational leadership. Engagements have spanned operational, strategic, technological and change management roles. Academically, I am a cum laude graduate with a Bachelor of Technology degree in Electrical and Electronics Engineering (B-Tech E.E.E.) and a post graduate in Masters in Human Resources Management (M.H.R.M.) and Masters of Foreign Trade (M.F.T.). As you will see my Post Graduation's were been studied part-time, as well as working full-time as an Engineer. I feel that this demonstrates my ability to maintain dedication, motivation and enthusiasm for a project management over a long period of time. In addition, balancing full-time work with study has perfected my time-management and organizational skills. I believe that my college degrees and gamut certifications in combination with my extensive broad-based work experience along with my drive, resourcefulness and determination, would make me an excellent candidate for a senior management position with any company. Highlights of my background include Operations related Commercial, Supply chain, Sales with a magnificent experience in Project management, technically oriented towards Automation and Security Systems in Industrial and Building sectors. Presently, writing a book on Projects and Operations Management (comprise of 12 volumes, 6K pages), and awaited for the reputed publications. These books can be checked in Google books and scribd websites too.

Drug Policy Alliance New Mexico Victory "Ban the Box"

HR - A Dynamic Career?

In the old days the HR department was known as Personnel, and people who worked there were responsible for doing the paperwork for hiring and firings and leave and that was about it. Today not only is the role of the HR professional far more demanding than it's ever been before, its also now seen as essential to the success of the business.


Whereas before someone working in an HR position would have been viewed as a function of payroll, nowadays they're often regarded as a partner of senior management in devising growth strategies for the company.


Over the last 20 years the HR function has evolved into a dynamic and popular career choice and the role now encompasses a number of areas.


Today's HR professional will find themselves dealing with a range of issues, like time planning, pension, staff development and training, and occupational health and safety, among others.


The role has changed in response to progressive legislation that governs the relationship between employers and employee, which has grown complex in recent years. Legislation has evolved to reflect the contemporary culture of equity and human rights.


It's an exciting time to be an HR practitioner. The field has widened so much that human resources is now shedding its image of a little grey, back office, job and is now considered one of the hot careers for people entering the job market.


Why the HR role is important

Employees can make or break an organisation. Organisational success therefore depends on finding the best qualified people for a job and then nurturing and retaining their talent and skills and this is where a good HR practitioner can play a vital role. Equally, HR is important in communicating with employees that no longer fit the organisational profile or who no longer have goals that are congruent to that of the organisation.


Human organisation and relationships can be incredibly complex, more so when there is compensation and defined hierarchical structures involved. It needs specific expertise and skills to manage those relationships.


Demanding role


For a career in the field of human resources, you need to possess a range of personal qualities and skills including so-called 'soft skills' like integrity, fair-mindedness, and a persuasive, congenial personality. You should be able to cope with conflicting points of view, function under pressure, and be skilled at communication at all levels.


It needs a good level headed approach and it is important to remember that many of the responsibilities of the job are very confidential.


'Hard skills' are also necessary, which includes things like computer proficiency, strong written and oral communication, math, and principles of business.


Human resources managers are there to assist companies to utilise effectively the best of their employees' skills, to provide the appropriate training opportunities to enhance those skills, and to look for ways to boost the employees' satisfaction with their jobs and working conditions.


A good HR manager therefore should be able to bring a range of skills and experiences to the table that can be used to support the organisational team in achieving the appropriate goals. Any organisation can benefit from the focus that an HR professional brings to the company, but this relationship can be especially beneficial to large companies where employees and employers do not have many opportunities to meet with each other.


Whatever the size of the company, the choice of sectors and roles for an HR graduate is diverse.


Massive range of career choices


There is a substantial range of levels of human resource management positions with differing levels of responsibility. Because qualifications in this field can be employed in virtually every industry, the choices of where and how to work are enormous.


HR graduates can choose from a range of jobs that include roles such as personnel administrators, human resource managers and consultants, industrial relations officers, personnel managers, union representatives, management trainees and recruitment specialists.


Recent graduates will probably start off their careers by working in a some sort of a general capacity which will see them do a little bit of everything rather than focus in one area. Some people like working like this and will stay an HR generalist all of their working lives, especially if they prefer to work in a small company.


Others will find their interests drawn into one specific area and may choose to specialise in this area, for example as a compensation and benefits manager, an employee relations officer, a recruitment and procurement manager, or someone who spends time in helping others learn new skills and develop their own career.


Headquarters of companies with hundreds, if not thousands, of staff members are more likely to offer this level of specialisation in HR roles.


The future of HR


Although the HR profession is constantly evolving and adapting to the changing needs of the working environment, experts have identified several critical roles for the HR manager in the future.


The Financial Officer


A numbers based role, where the HR practitioner applies metrics to support the decision-making process in companies. How much do certain employees contribute to the bottom line? How much value does specific training add to the business? Which functions or programmes do not add value and should be eliminated?


The Internal Consultant


This role supports specific managers throughout the organisation by empowering them to recruit, interview, hire and retain the talent that they need. It also includes counselling line managers on key legal and ethical matters such as disability and age discrimination laws.


The Talent Manager


A role that is responsible for finding, developing and keeping the best talent and skills needed within the organization. The HR professional will manage learning and skills development as well as succession planning.


The Procurement Manager


A role that decides what jobs can be better handled by outsourcing. This professional monitors quality and costs, stays on top of trends in this business, and maintains a close working relationship with outsourcing firms and vendors.


The Self-service Leader


This person works with internal and external information technology specialists to establish and run web-based portals for various automated functions, such as benefits and pension administration, that support employees.


What is notable in the description of these roles is that the profession of HR has definitely moved away from a paper-shuffling, desk bound position towards a essential, strategic, forward thinking role. HR is attracting talented graduates and continues to evolve to best match a changing business environment.

About the Author


Gillian is a regular contributor of career advice and
jobs
news for leading UK Job Board http://www.careersandjobsuk.com
Link text

Authors@Google: Vince Cable

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How do I find an entry level attorney position in CA?

I graduated from UC Hastings in 2007 with an unfortunate 3.0 GPA, but I was on law review. While in school I interned at a plaintiff's firm and two different DA's offices. It took me two tries to pass the bar exam, but now that I have my license I am having no luck finding work.

I've tried networking, job postings, and direct mailing to firms, and so far I've received nothing but rejections, some of which were fairly rude ("You're not qualified to work at our firm.").

I'd like to find a litigation job, preferably doing employment/labor, personal injury, or insurance defense.

Do any attorneys on here have advice on what I should do?

1. Contract attorney work - there are lots of temporary employment agencies that do this;
2. Special appearance attorney;
3. Craigslist;
4. Have you tried the local PDs and/or DA's offices? I know you mentioned civil litigation, but you can get trial experience with the PD and/or DA;
5. In-house counsel;
6. Do you have any friends who are currently employed as attorneys? See if their firms are hiring. Many times, firms will take someone who is recommended by a current or former employee over someone who just sends in a resume.

Paralegal Jobs in New York City Law Firms For Paralegals Legal Staffing Ediscovery Legal Recruiters

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Letters: What constitutes an 'invasion'?
The indignant hysteria opposing the new Arizona statute directing state officers to enforce federal law raises some rhetorical questions. What if a Russian naval ship ran its prow onto the sands of, say, Oregon, and discharged a load of troops?
Texas Governor 2010 - No law requires you to pay taxes1 of 2

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I did not receive my final paycheck?

A view weeks ago I quit my job because I had a much better opportunity coming up for me. Since employment with this company was at will I was not required to give them 2 weeks notice. On March 2nd was payday (normal pay period), and I should have received my final paycheck in the mail. But unfortunately I didn't get paid.
Does anyone know the labor law in CO and how much time the employer actually has to send the final paycheck.
What can I do if I don't get the paycheck within the next few days?

Thank you
Shaylee

found this website http://www.coworkforce.com/LAB/

and it has what u are asking about and how to file a complaint against your former employer..should be helpful...good luck

Sacramento Labor Lawyers - Mastagni, Holstedt, Amick, Miller & Johnsen

Should there be a law that prevents employers from posting jobs and withdrawing them from applicants?

I applied for 2 jobs at a state employment recruiting office for the same company. Three weeks went by and I had absolutely no response. I notified the employer today and they stated that they were running slow; therefore, they were not hiring. Should this be illegal?
Seriously, what do employers think applicants are? Fish?

We are in a RECESSION. The employers have everything in their favor right now so they feel that they can treat applicants like crap. I have never seen the business world so cruel. The only advice I can offer is: toughen up. I am sorry, but it is very tough right now.

Nadine Bocelli & Company, Inc. - New York Legal Staffing Services

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Is it a contravention of employment law to post a religious message on a company bulletin board?

I'm referring to a bulletin board used to post company announcements in a business. It's not a government entity, but a division of a publicly traded company.

Too many variable to decide. If this bulletin board is government property and dedicated to government business, then it would be a misappropriation of government property to use this bulletin board for personal business like social or religious reasons. If it's a privately owned business, then the law prohibits discrimination in employment, promotions, and so on, but I'm not aware of any law forbidding either management or employees from using the bulletin board to announce church services, post Biblical quotes, or otherwise use it for personal/religious purposes. However, it is perfectly possible that the employer may have forbid using the bulletin board for any purpose not directly related to carrying out that employer's business.

If someone is appropriating company property for religious reasons, and this is affecting your job performance (or the company's bottom line), then contact your corporate ethics office anonymously. I doubt if there are any laws broken by such a message though.

Recovery Act Accountability and Transparency

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Study in University of Queen Mary of London

Queen Mary, University of London is one of the U.K‘s leading research focused higher education institution. Queen Mary University of London is one of the oldest, largest and most diverse Universities in U.K. Study in University of Queen Mary London delivers world class degree programmes & research across wide range of subjects such as humanities, social sciences, law, medicine & dentistry, science & engineering. University was ranked 13th in U.K in 2008 Research Assessment Exercise(RAE).

Queen Mary University of  UK offers completely integrated residential campus ,with 2,000 bed award winning student village on its Mile End Site. University of Queen Marry provides best possible educational, cultural & social experience to its students. It provides wide range of educational & social facilities to its students. These facilities include Senate House Library. This Library contains more then 1.4 million volumes & university of London union (ULU) which is very active & lively in U.K. Queen Mary University has student support office, this office help students by providing them comprehensive information, support & guidance on academic issues. There are also computer terminals with full internet access available for students use. Study in Queen Mary University provides opportunity to its students to participate in decision making process of university. This opportunity is provided through student representation. This union is recognized by the college’s royal charter as the student cooperate body. Members of Student Representative body sit in the decision making committee of University.

Post graduate study in Queen Mary University of  England also provides opportunity to develop skills through student community action projects or volunteering opportunities run through accredited volunteering programme called PROVIDE. Students who graduate from Queen Mary University earn second highest salaries in U.K .QMUL school of law is among the most highly rated law schools in U.K .It was ranked 5th in 2001 by Research Assessment Exercise. Qmul offers advance teaching in all major fields of law. Queen Mary, University is very well known for its Mathematics Research Centre (MRC), school of Mathematics is one other largest school of mathematics in U.K. School of mathematics Science of  University is centre of excellence, learning, scholarship and research. Arts and Humanities of Queen Mary University of London is ranked 4th and  ranked 6th best for students employability in U.K. Department of Economics of University is ranked 6th by RAE exercises. Department of Physics of Queen Mary University of London is ranked number one in country. This University also known for its teaching quality and provides modular system of teaching. This system makes degree courses very flexible.

Queen Mary University, UK tries its best to provide them practical work experience to its students so that they can meet requirements of employers. University provides counseling services to its students. There counselors are fully trained. If students are facing any academic or personal problem then they can go and consult counselors. Counselors try there best to solve the problems of students. Consultations are kept confidential. Queen Mary University of London helps its students to integrate according to British society and British educational system. Medical School of Queen Mary University is one of the oldest medical schools in Europe.

About the Author

Siddharth Gupta of Global Opportunities is a well known consultant for graduate and postgraduate study in UK. He has written several articles on topics like, Why Study in UK and Australia etc. His company provides active assistance for graduate and postgraduate study in Queen Mary University of London among others.

CHEAP LEGAL WORK - Bluefish Legal Consultants

New York State Child support laws?

My fiance' was unemployed due to lay offs for 7 months and had the courts adjust his child support to a feasible amount, so that we were able to provide for ourselves and our children. Now that he has found new employment and his ex petitions the court, will they go back to what he was paying according to court order before, or will the adjust everything again going by his new job? According to the laws of NY state, child support can not be adjusted for 2 years, and it has only been 1 year since they last adjusted it. Just curious if anyone has had the same experience?

Look up NY Fathers for equal rights and call them. This will also help.

http://tinyurl.com/ChildSupportModification
http://tinyurl.com/StepFamilies
http://tinyurl.com/Custody-Can-A-Father-Win
http://tinyurl.com/ChildSupportTrustFund

New York Employment Discrimination NYC Lawyers

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Executive Protection 10 Secrets For Gaining Bodyguard Jobs

Executive Protection 10 Secrets For Gaining Bodyguard Jobs provides inside secrets on how to find well paid executive protection bodyguard jobs.

Globally business security is a huge growth industry, and the sector of providing VIP executive protection for business executives is one of the fastest growing sectors of the security industry.

People are flocking to the executive protection industry searching for lucrative bodyguard jobs.

Professional bodyguards have never been in greater demand as businesses trade more freely overseas in joint venture business partnerships. Sadly this leaves many businesses vulnerable to attack from organised crime gangs and terrorist organisations.

Business executives and company directors are being specifically targeted for kidnap for ransom. Company freight and other valuable assets are being frequently hijacked. Marine transported freight; cargo and crew are under constant attack from modern day pirates.

This increase in attacks against businesses dictates a need for professionally trained bodyguards. Key emphasis on professionally trained.

Unfortunately the interpretation of a professionally trained bodyguard is wide open to interpretation and is often different between all the bodyguard training companies.

In my 20 plus years of close protection bodyguard industry experience the highest majority of bodyguards I've trained joined the close protection industry because they wanted a career change which offered them a sense of excitement but also paid well.

Hence lucrative openings for close protection jobs and the rush to join the executive protection sector providing close protection for business executives.

This is one of the sectors that many new close protection recruits leave their training programme seeking bodyguard jobs in Iraq, or bodyguard jobs in Afghanistan. In reality these close protection jobs are not for the feint hearted or fresh recruits.

Ideally you should begin by searching for a bodyguard job in the UK, or a bodyguard job in some other low to medium risk theatre so that you can learn your trade before seeking bodyguard jobs in any of the high to extremely high risk theatres of operation.

Cutting your teeth on a low risk close protection operation in the UK is often a great foundation to build your body guard jobs search campaign.

VIP Protection 10 Secrets #1

Bodyguard Job Research

Contrary to what many close protection companies may tell you when they attempt to extract your money for training body guard jobs are difficult to come by.

In-depth research into identifying recruitment agents and agencies offering bodyguard jobs in any of the security sectors is essential. The British American Security Expert is a good first port of call.

VIP Protection 10 Secrets #2

Close Protection Basic Training

Before you even begin to think about finding a bodyguard job in any of the security and close protection sectors you need to have completed your close protection basic training.

Complete your due diligence to identify that the company taking your money for training is recognised Internationally. If they are not then you will struggle to find any body guard jobs.

VIP Protection 10 Secrets #3

Close Protection Membership

It is always a huge help when seeking a bodyguard job in any of the close protection sectors to have a close protection membership in an internationally recognised bodyguard association.

Many past students found their first bodyguard job in the security industry by being a member of the LEBAI Law Enforcement & Bodyguard Association International.

VIP Protection 10 Secrets #4

Bodyguard Employment Mentoring

Well paid body guard jobs rarely present to fresh close protection recruits.

If you are serious about long term sustainable bodyguard job in the close protection sector then you need to retain the professional services of a globally recognised British American Security Expert to provide you with close protection mentoring.

VIP Protection 10 Secrets #5

Bodyguard Employment Identify Your Niche

Before you begin to search for close protection jobs, you need to identify your niche or your USP Unique Selling Point.

i.e. What particular skill set do you possess that sets you apart from every other recruit seeking well paid body guard jobs. Identify your niche & USP and better paid body guard jobs will come your way.

VIP Protection 10 Secrets #6

Bodyguard Job Advanced Training

The British American Security Expert recommends if you are looking for a bodyguard job in Iraq or Afghanistan than it's essential to have graduated from advance close protection training that prepares you for high to extremely high risk close protection jobs.

Executive Protection 10 Secrets #7

Bodyguard Job Specialist Training

Many new recruits to the close protection industry view body guard jobs Iraq and Afghanistan as the route to instant riches.

Many enter this close protection jobs sector ill-equipped and ill-prepared. The key to obtaining close protection jobs in any high risk theatre of operation is graduation from close protection specialist training.

VIP Protection 10 Secrets #8

Bodyguard Employment Overseas Networking

Lots of recruits enter the close protection jobs market seeking bodyguard employment overseas. However it is worth noting that overseas bodyguard employment is generally found by registering with one or more of the agency recruitment companies.

VIP Protection 10 Secrets #9

Body Guard Jobs Marketing Yourself

The British American Security Expert has written extensively for the need for new bodyguard recruits to understand the need for marketing yourself.

The highest percentage of bodyguards seeking a bodyguard job in the security industry fail because they never address marketing themselves.

VIP Protection 10 Secrets #10

Body Guard Jobs Promoting Your Business

You may be a highly trained bodyguard seeking close protection jobs in the security industry but you are more than likely one of the 90% plus close protection officers working for themselves.

This means when considering any kind of bodyguard job in the security industry you have to promote your business.

Until you accept that you are first and foremost a business person and second a close protection officer you will struggle to find any close protection jobs.

About the Author

Dr. Mark D. Yates The British American Security Expert provides high risk close protection, counter terrorism & SWAT training & consultancy in 42 countries. He's one of the world's top 5 executive protection specialists hired by government, military special forces, security agencies & corporates for his security expertise. Claim his FREE 52 security tips & visit him at => http://www.closeprotectiongz.com or e-mail him at drmarkdyates@aol.com

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Texas Invests In Its Future: The Young See Hope For Retirement

No wonder so many of us run from discussions on financial matters, ignore our bills, and spend too much money, as if in rebellion. It's scary out there.


Last year, the Employee Benefits Research Institute released the results of a study concluding that the majority of Americans are unprepared for retirement, are not saving enough for it, and have unrealistic expectations about how much they will need to live comfortably in their golden years. Texas is no exception. With its high poverty rate, and even higher rate of those going without health insurance, it's lucky many can get through day-to-day life.


Being one of the millions in debt myself, I can understand this. The rising cost of housing, food

-- even clean drinking water -- can drive anyone with a limited income to distraction. I decided to stop changing the television channel with every new disastrous financial report, and to start researching, when an investment counselor said to me with matter-of-fact conviction, "You know, young adults now just may need a million to retire." After the initial (and expected) incredulous gasp, I decided gulping air wasn't going to do me much good. As usual, knowledge and simple planning gave me hope. Here are a few tips on digging yourself out of the panic.


Checking and Savings Accounts:


The first step in building a sound financial future is practicing money management skills with both checking and savings accounts. Most of us have at least one of them; keeping track of their balances is an entirely different matter.


Free checking accounts are fairly easy to procure. At one point, it was common for financial institutions to charge monthly fees for the privilege of stashing money with them, but the banking industry rakes in so much profit from successfully luring their customers into other investments that it's just not necessary anymore.


The theory is that if one has a free account with a particular financial institution, there's a good chance that person will return to that institution for other investments as his or her income grows -- investments that will make both the customer and the bank happy.


By all means, take advantage of this. Texas abounds with students -- students needing any freebies they can get -- so it shouldn't be difficult to find a bank offering free checking and savings accounts, especially in cities like Dallas, Houston, and Austin. Look for a checking account without a minimum balance requirement, and one that doesn't, of course, charge monthly fees.


Free checking accounts are not usually interest-bearing, so put only enough money in it every month to cover your monthly bills, plus a little padding. Keep track of your balance; the greatest risk with these accounts is the astronomical overdraft fees most of them charge. Once all of your bills are paid at the end of each month, stash extra income in an interest-bearing savings account. The average APY (Annual Percentage Yield) on low-balance savings accounts hovers somewhere just around 0.5%, but at least it's something.


Short to Middle-Term Investments:


Once you feel you've established a healthy pattern of money management -- no overdrafts, a properly balanced ledger, and all bills paid in full -- start looking into other investments. Most of the time, you'll need at least $500.00 to invest in other types of accounts, and, at least initially, look for those with better APYs than your current savings account, but will not inflict penalties for withdrawing funds whenever you need them.


Money Market Accounts:


Money market accounts are great investments at any age, but they're particularly advantageous for beginning investors simply because there are no penalties for withdrawing any amount at any time, no waiting period to continue investing (you can, likewise, deposit money at any time), and the funding is usually only a check away. There are several types of money market accounts, so be sure to investigate the minimum investment required, interest rates, and restrictions on each before making any commitments.


Money markets work by pooling investments from thousands of contributors into an assortment of (usually short-term) funds from municipal bonds, to stocks. The result is a fluctuating interest rate that is almost always at least a few percentage points higher than that of a standard, low-balance savings account. According to USA Today, non-bank money market funds are currently at about 5% APY.


Certificate of Deposit:


Certificates of Deposit, or "CDs" have been around longer than the replacement for the tape cassette. Interest rates are fixed, rather than fluctuating, are usually comparable to money market accounts and can be purchased at a bank or other financial institution, including many sites online, for terms as short as three months. Of course, the longer the term you lock in, the higher the rate you will obtain under most market conditions In other words, whatever interest rate you lock in at the beginning will remain the same throughout the course of the investment. Once you've invested in a CD, however, you cannot continue adding to the same one during the life of that investment, until renewal -- which is one reason you may want to go with a shorter term.


The primary disadvantage of CDs lies in the substantial penalties inflicted if the investor withdraws his or her money before the allotted time. The average APY for a six-month CD is currently 3.59%; for a one-year CD, 3.77%; for a five-year CD, 3.96%, although some banks may offer better deals. CDs are a good idea if their current APYs are higher than contemporary money market accounts, and you don't expect to -- or perhaps don't trust yourself to -- handle the money for a while.


Health Savings Account:


Health Savings Accounts, or HSAs were created by a 2003 Medicare bill, and are, without a doubt, worthy of consideration for many individuals and families. HSAs strive to address the growing problem of underinsured Americans (Texas knows this well, with over 25% of its population going without any insurance) by allowing investors to save for qualified medical expenses and future retirement health expenses, on a tax-free basis.


These accounts are only made available to those with qualifying high-deductible health insurance policies, and are a great choice for many young, middle-class Americans. HSAs provide incentives for saving towards healthcare, and a bit of financial padding in case of disaster. The major disadvantage is that penalties are inflicted if the money is withdrawn for unqualified expenses prior to the age of 65.


Retirement Accounts:


The types of retirement accounts available to Americans are too numerous to mention, and are highly dependent on employers in most cases. Entire sections of libraries and many websites are dedicated to this subject. The first, and most important thing to do, is to check with your employer to see if, or what, retirement plans are offered. Some companies offer employee benefits, including flexible 401(k) plans and matching funds. Look seriously into these options.


However, rather than briefly attempting to delve into the plethora of accounts that may, possibly, be available to you, this article will focus on an account available to all, regardless of employer


-- the Roth IRA account - which has become increasingly popular since becoming law in 1997


Now, IRAs have been around for some time, but traditional IRA accounts require funds going in, and coming out, to be taxed. This means that whatever dividends or proceeds an investor earns over the years will be taxed upon withdrawal. Considering that IRA interest rates are compounded, this could (and is intended to) add up to quite a bit over several decades


Roth IRA accounts, on the other hand, do not tax funds upon withdrawal. Funds invested into the account are considered taxable income going in, but the compounded interest or proceeds can accumulate tax free, until the age of 59 1/2, at which point they can be withdrawn without penalty or taxes. A Traditional IRA, on the other hand, is not taxed going in, but is subject to tax coming out, at whatever rate of income will apply to you at that time -- the assumption being that you will withdraw most of this money during retirement, when you will not have other earned income driving up your tax rate,. This means that whatever your Roth IRA account balance statement is, is the amount you have for retirement, free and clear. No more taxes.


If an investor begins an IRA account in his or her twenties, and contributes a modest amount every month (possibly matched by an employer), principle and compounded interest could conceivably yield a million or more dollars over four decades. The way to think of a Roth IRA, as opposed to a Traditional IRA, is that you are paying taxes on the seeds instead of on the crop.


Now, that's something to think about. Maybe retirement is possible...


See, that wasn't so hard. Respect yourself (and your anxiety levels) enough to seriously investigate financial opportunities. There's a good chance you're missing something you have the funding for -- right now, sitting in a no-, or low-, interest-bearing account. If you have any kind of steady income, financial security should be within your grasp. A comfortable retirement is in your future. Just take a deep breath, open your bills, and start acting like the adult you always dreaded you'd have to be someday.


Taking care of your financial responsibilities can have a positive effect on your anxiety levels, sense of security, and overall health. Being aware of your health, and what you can do to safeguard it, will certainly affect you as you age, and eventually your wallet as well.

About the Author

Pat Carpenter writes for Precedent Insurance Company. Precedent puts a new spin on health insurance. Learn more at Precedent.com

Immigration Attorney Helps Others Realize The American Dream

I need a good employment law attorney in orlando, Florida?

I am in an awkward situation with my job and I need a good employment law attorney to represent me against these people who have enacted unfair business practices.

Thanks for all your help.
I just need some good, reputable names.
Thanks.

I would suggest giving more details, as you may not have been subjected to unfair business practices. Last thing you need is to pay for an attorney that can't help you anyway.

Orlando Commercial Litigation Attorney Rick Martindale Abogado de Negocios en Orlando Florida

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Florida Job Injury Question - Back Injury Settlement

The following is an expert answer given by Florida job injury lawyer, Joseph M. Maus, and taken from AllExperts.com, a free Q & A service on the internet:

Question: I was hurt at work and had surgery on my back - disc surgery. I got paid for time off and now I'm back to work. I am working normally with slight pain. The workers comp insurance called me and sent me mail to settle the case. They are offering me $49,999 to settle my case without lawyers. I did not ask for anything - they called me and offered me a settlement.

What should I do? Can I settle it myself? How do I go about getting the money and would that be the best solution for me without risking my employment? Is it better to get a lawyer and why?

What can I do to improve my case with the workers comp insurance? Do I have to settle the case? Would I get a better deal if I hired a lawyer to represent me?

Answer: The most important factor affecting the answer to your questions was left out.  That is, what state you live in.  Workers compensation laws, and the benefits you may be entitled to, vary from state to state.  I am a Florida attorney specializing in serious injury and accident claims, including workers compensation.  I can only tell you how the laws work in a Florida job injury, so my advice to you is to speak with an accident injury lawyer in your area to get specific advice.

There are many factors that affect a workers compensation settlement.  The primary issue is how much exposure the insurance company has in the future if your claim were to remain open.  For example, what exposure does the insurance company have for future medical care, wage benefits, vocational retraining, is there any exposure to permanent total disability benefits, etc.  Without having a chance to review your medical records, it would be next to impossible to give you an accurate estimate of the settlement value for your case.

Your email indicates the insurance company has offered you $49,999 to settle.  Most likely, the insurance company is referring to "impairment benefits" which are paid out to a claimant based upon the impairment rating given to them by the doctor.  At least in Florida, an insurance company is required to pay these to you once you receive the impairment rating from your doctor, so their offer to pay them to you as a settlement offer seems a little ridiculous.

The best advice I can give you is do speak with an attorney that specializes workers compensation.  He can advise you what the law is in your area, and what your options are.  Workers Comp in most states is entirely a creation of the State's statutes and as such, all rights you have, and obligations the employers insurance company have, are set out in the Statutes.  You may, and I emphasize may b/c I don't know your State's laws, have rights different than what we have in Florida.  The settlement value of your claim would be based in part upon options that still exist for you within the WC laws of your state.

Most attorneys specializing in workers compensation claims handle the claims on a contingent basis,i.e. their attorney fees are a percentage of any money they recover for you. In a Florida job injury, it is usually about 25% of the gross settlement amount.  Most workers comp attorneys also offer a free, no-obligation consultation to discuss whether you have a viable case.  So you really have nothing to lose by speaking to an experienced workers compensation lawyer.  If you don't like what you hear, you're not obligated.

I get asked quite often whether it is best to hire an injury accident lawyer to settle a claim.  My response is always - absolutely yes.  In 17 years of doing accident injury claims, I have yet to have a client come into the office with what I considered to be a fair offer from an insurance company, without the assistance of an attorney.  I wouldn't attempt my own dental or medical work, do a serious repair on my car, or re-wire my house on my own. Leave it to the experts.  The old saying is don't be penny wise, but pound foolish.

If you are an injured worker in Florida, I would tell you that there really is no way to give you an accurate answer to all your questions without spending some time with you speaking about your case, your employment history and job skills, your age, and looking at your medical records and doctor opinions.  You do not have to settle a workers compensation claim in Florida, so you should be careful about negotiations directly with the insurance company.

For more information about a Florida job injury claim, contact Florida work accident compensation lawyer Joseph M. Maus at 1-866-556-5529 or email him today.

About the Author

South Florida Attorney Joseph M. Maus and Associates has been helping victims of injuries and accidents for close to 16 years. The firm prides itself on having the resources and experience of the largest state-wide law firms, yet providing individualized attention to each and every client.

In-Trans Heart: Tranny Vs McDonald scandal part 2

Importance Of Employment Contracts - Know Their Value

Anyone who works for an employer for a regular wage or salary automatically has a contract of employment, regardless of whether it is written or not. The majority of employees work under open-ended contracts of employment. In other words, the contract continues until such time as the employer or employee ends it.


Many other employees however, work under fixed-term or specified-purpose contracts which are contracts which end on a specified date or when a specific task is completed.

The contract of employment will include some or all of the following elements (regardless of whether the employer and employee have specified them or not):


The terms that the courts say are in every contract of employment. Examples include the duty of every employer to provide a safe workplace and the duty of every employee to carry out the job to the best of his/her ability. This part of the contract is occasionally referred to as "common law".


Terms that must be part of the contract as a result of laws passed. Examples include the right to take maternity leave. Such terms are part of the contract of employment even if the employer and employee do not specifically include them and replace any agreement between the employer and employee not to apply the particular law. So, the statutory right to take maternity leave overrides any agreement between the employer and employee that the employee will not take maternity leave.


Terms and conditions states must be in every contract, for example, the right of an employee to join a trade union.

Collective agreements


Joint Labor Committee Regulations


In addition, custom and practice in a particular workplace may form part of a contract. An example would be a particular level of overtime pay for employees.


In the case of these items instead of giving each employee the details in writing, the employer may refer an employee to other documents, for example, a pension scheme booklet or a collective agreement, provided that the employee has easy access to such documents.


The statement of terms must indicate the reference period being used by the employer for the purposes of the calculation of the employee's entitlements under the Minimum Wage Act, 2000. (Under that Act the employer may calculate the employee's minimum wage entitlement over a reference period that is no less than one week and no greater than one month).


The statement of terms must also inform the employee that he/she has the right to ask the employer for a written statement of his/her average hourly rate of pay for any reference period (except the current reference period) in the 12 months prior to the date of the employee's request.


Note. Specific provisions in contract of employment

In recent times, some employers are adding in specific provisions in contract of employment that limit the ability of employees to work in a certain sector, with certain suppliers, clients, for a period following termination of employment. (For example, it may specifically state that the employee cannot work in a certain sector, with or for suppliers or clients of the former employer, etc.). There is nothing in employment law in that strictly forbids this, but there is no provision in employment law that allows this either.


Essentially, this is an issue of contract law - that is, the contract of employment signed and agreed between the employer and employee. If you have any concerns about this issue, you are strongly advised to seek legal advice from a competent legal professional in advance of signing this contract of employment. However, even if the contract of employment is signed, you are always free to seek such legal advice. Attorney fees can vary widely so shop around and obtain some quotes for legal advice before you proceed.


Note. Probationary period

The contract can include a probationary period and can allow for this period to be extended. The Unfair Dismissals Acts will not apply to the dismissal of an employee during a period at the beginning of employment when he/she is on probation or undergoing training provided that:


* the contract of employment is in writing

* the duration of probation or training is one year or less and is specified in the contract.


The above exclusion from the Acts will not apply if the dismissal results from trade union membership or activity, pregnancy related matters, or entitlements under the maternity protection, parental leave, adoptive leave and career's leave legislation.


Changes to your contract of employment.


Changes to your contract of employment can occur due to a change in the law, but otherwise, changes must be agreed between your employer and yourself. The requirement for both the employer's and the employee's consent to changes in the terms of the contract is part of contract law.


From the above information you will see that the contract of employment is a very important document to have. Whenever you get hired, ensure that your new employer offers you this kind of security. Be cautious of employers who don't give contract of employment.

About the Author

Abhishek is a Career Counselor and he has got some great Career Planning Secrets up his sleeves! Download his FREE 71 Pages Ebook, "Career Planning Made Easy!" from his website http://www.Career-Guru.com/769/index.htm . Only limited Free Copies available.

Employment Lawyers Jobs

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Employment Law Magazine, Personnel Safety Matters, Employers Legislation Information, UK

The Bottom Line Online is a quarterly employment law magazine, covering employer legislation information and personnel safety matters, published by Peninsula and distributed exclusively to its client base. The first edition was written and created in 1996 and over the years this publication has informed, entertained and educated Peninsula's clients.

The subjects covered in the employment law magazine include news, views and in-depth articles of how companies (particular SMEs) deal with and manage staff within the ever changing legal environment plus all the latest government legislation changes on employer legislation information, employment law, health and safety matters as well as general personnel safety matters and other issues.
It is written entirely by people who work within the employment law and health and safety profession, and is a vital reference point for managers and company owners who deal with HR and/or Health and Safety on a day to day basis.
This online version of the employment law magazine can be used as a reference point for all company owners, directors and senior managers who need to know the essential rules of employing and managing staff, keeping up to date with employer legislation information and personnel safety matters. As well as scrolling through the pages of the current edition, you will be able to check the back issues through our search facility.
To get started and view these latest articles register for free and gain access to the benefits.

The Bottom Line is only part of the portfolio of our services. To both their valued existing clients and any new welcome visitor to their site, it should be emphasised how BusinessWise online management service and the 24 Hour Advice Service can help ensure you are up to date with the complexities of the ever-changing employment law and health & safety legislation.

Employment Law Magazine | Personnel Safety Matters | Employer Legislation Information | UK

About the Author

1 of 3, Russell Brimelow

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STOCK MARKET DEVELOPMENT AND ECONOMIC GROWTH: EVIDENCE FROM UNDERDEVELOPED NATION (Nepal)

 Proposal Writing for:

 

STOCK MARKET DEVELOPMENT AND ECONOMIC GROWTH: EVIDENCE FROM UNDERDEVELOPED NATION (Nepal)

 

 

By

Jyoti Koirala (get2jyoti@gmail.com)

 

 

 

A Research Proposal Submitted to:

Faculty Members

Business or Economics Departmen

 

  

August, 2009

 

 

 

Chapter 1: Introduction

 

1.1. General Background

 

Stock market development has an important role to play in economic development. Shahbaz and his friends (2008) argue that stock market development is an important wheel for economic growth as there is a long-run relationship between stock market development and economic growth. Stock market development has the direct impact in corporate finance and economic development.

 

Gerald (2006) states that stock market development is important because financial intermediation supports the investment process by mobilizing household and foreign savings for investment by firms. It ensures that these funds are allocated to the most productive use and spreading risk and providing liquidity so that firms can operate the new capacity efficiently. A growing body of literature has affirmed the importance of financial system to economic growth.

 

Financial markets, especially stock markets, have grown considerably in developed and developing countries over the last two decades. Claessens, et al (2004) states that several factors have aided in their growth, importantly improved macroeconomic fundamentals, such as more monetary stability and higher economic growth. General economic and specific capital markets reforms, including privatization of state-owned enterprises, financial liberalization, and an improved institutional framework for investors, have further encouraged capital markets development.

 

Similarly Mishkin (2001) states that a well-developed financial system promotes investment by identifying and financing lucrative business opportunities, mobilizing savings, allocating resources efficiently, helping diversify risks and facilitating the exchange of goods and services

 

From the view point of Sharpe, et al (1999), stock market is a mechanism through which the transaction of financial assets with life span of greater than one year takes place. Financial assets may take different forms ranging from the long-term government bonds to ordinary shares of various companies. Stock market is a very important constituent of capital market where the shares of various firms are traded Trading of the shares may take place in two different forms of stock market. When the issuing firm sells its shares to the investors, the transaction is said to have taken place in the primary market but when already issued shares of firms are traded among investors the transaction is said to have taken place in the secondary market.

 

Stock markets are very important because they play a significant role in the economy by channeling investment where it is needed and can be put to best (Liberman and Fergusson, 1998). The stock market is working as the channel through which the public savings are channelized to industrial and business enterprises. Mobilization of such resources for investment is certainly a necessary condition for economic take off, but quality of their allocation to various investment projects is an important factor for growth. This is precisely what an efficient stock market does to the economy (Berthelemy and Varoudakis, 1996).

 

Earlier research emphasized on the role of the banking sector in the economic growth of nation. In the past decade, the world stock markets surged, and emerging markets accounted for a large amount of this boom (Demirguc-Kunt and Levine (1996a).  Recent research has begun to focus on the linkages between the stock markets and economic development. New theoretical work shows how stock market development might boost long-run economic growth and new empirical evidence supports this view. Demirguc-Kunt and Levine (1996a), Singh (1997), and Levine and Zervos (1998) find that stock market development is playing an important role in predicting future economic growth.

 

In underdeveloped like Nepal the development and growth of stock markets have been widespread in recent times. Despite the size and illiquid nature of stock market, its continued existence and development could have important implications for economic activity. For instance, Pardy (1992) has noted that even in less developed countries capital markets are able to mobilize domestic savings and able to allocate funds more efficiently. Thus stock markets can play a role in inducing economic growth in less developed country like Nepal by channeling investment where it needed from public.  Mobilization of such resources to various sectors certainly helps in economic development and growth. Stock market development has assumed a developmental role in global economics and finance because of their impact they have exerted in corporate finance and economic activity. The role of financial system is considered to be the key to economic growth (Neupane, et. al. 2006).

 

Paudel (2005) states that stock markets, due to their liquidity, enable firms to acquire much needed capital quickly, hence facilitating capital allocation, investment and growth. Stock market activity is thus rapidly playing an important role in helping to determine the level of economic activities in most economies.

 

Tuladhar (1996) states that financial markets are catalyst in the development of economy. The study further added that developed economies have highly sophisticated financial institutions. Over the past decade, many developing economies have established capital markets as they moved towards more liberal economic policies. These emerging markets have shown extraordinary growth with very high volatility, which have attracted many investors into these markets.

 

This study will attempt to dig out the empirical evidence in the context of underdeveloped nations regarding the role of stock market development on economic growth.
1.2. Statement of the Problem:

 

In the last two decades, the link between financial intermediation and economic growth is a subject of high interest among academics, policy makers and economists around the world. There have been attempts to empirically assess the role of stock market and economic growth. The link between stock market and growth has varied in methods and results. There exists two controversies in the predictions.

 

Adjasi and Biekpe (2005) found a significant positive impact of stock market development on economic growth in countries classified as upper middle-income economies. In the same way, Chen et al (2004) elaborated that the nexus between stock returns and output growth and the rate of stock returns is a leading indicator of output growth Arestic et al. (2001) using time-series on five industrialized countries also indicate that stock markets play a role in growth. Various studies such as Spears, (1991); Levine and Zervos, (1998); Atje and Jovanovic, (1993); Comincioli, (1996); Levine and Zervos, (1998); Filer et al, (1999); Tuncer and Alovsat, (2001). Levine and Zervos (1995) and, Demirguc-Kunt (1994) has supported the view .stock markets promote economic growth..With well-functional financial sector or banking sector, stock markets can give a big boost to economic development (Rousseau & Wachtel, 2000; Beck & Levine, 2003). Bahadur and Neupane (2006) concluded that stock markets fluctuations predicted the future growth of an economy and causality is found in real variables.

 

There are also alternate views about the role stock markets play in economic growth. Apart from the view that stock markets may be having no real effect on growth, there are theoretical constructs that show that stock market development may actually hurt economic growth. For instance, Stiglitz (1985, 1994), Shleifer and Vishny (1986), Bencivenga and Smith (1991) and Bhide (1993) note that stock markets can actually harm economic growth. They argue that due to their liquidity, stock markets may hurt growth since savings rates may reduce due to externalities in capital accumulation. Diffuse ownership may also negatively affect corporate governance and invariably the performance of listed firms, thus impeding the growth of stock markets.

 

Despite of alternative views empirical works continue to show largely some degree of positive relationship between stock markets and growth. These studies largely based on developed countries only. Only few studies have been conducted in context of Nepalese stock market, and those conducted studies do not show clear conclusion regarding its impact on economy. Yadhav (2002) finds that firms with higher investment have higher saving and higher capital formation. Though his study may be significant in other cases it is of less significance here. Similarly Wagle (2002) also carried out the study on trends of saving, investment, and capital formation in Nepal, but his study fails to provide any specific link between saving, investment and capital formation with stock market development. Similarly Sindhurakar (2004) has carried out the study on relationship between the stock market and economic growth without analyzing the econometric models.

 

The study specifically deals with the following issues:

1. What is the relationship between the Gross Domestic Product (GDP) and government investment, government expenses, foreign aid, savings, and foreign direct investment

2. Is there any relationship between the market capitalization and Gross Domestic Product (GDP)?

3. What is the impact of concentration ratio on economic growth of a nation?

4. What is the significance of liquidity on economic growth? What is its impact in capital market?

5. Is there any co-integration between the stock development index and economic growth?

6. Is there any Granger causality between the stock development and economic growth?

7. Is the Levine and Zerovos model valid in underdeveloped nation like Nepal?

8. Can the small group of investors manipulate a Nepalese capital market easily?

9. How can the government able to develop the stock market in coming days?

 

One group of study argues that stock market does not help in economic development of a nation while the other group argues that it helps in economic development. However, empirical investigations of the link between financial development in general and stock markets and growth in particular have been relatively limited. Various empirical researches have suggested a possible connection between stock market development and economic growth, but are far from definitive.

 

1.3. Objective of the Study

 

The main objective of this study is to examine the impact of stock market development in the economic development and growth of the nation in context to Nepal. The specific objectives of the study are as follows.

 

1. To conduct the empirical analysis of stock market by investigating the link between stock markets and economic growth.

 

2. To further analyze the link based on set of different variables of economic indicators and stock market indicators.

 

3. To examine the importance of liquidity for the economic growth.

 

4. To analyze the impact of firm concentration ratio on economic growth.

 

5. To examine the validity of model of Levine and Zervo’s study on stock market in developing nation like Nepal.

 

6. To determine and analyze the co-integration and causality between the stock market development index and economic growth.

 

 

 

Chapter: 2 Review of Literature

 

2.1 Review of Empirical Works

 

This section concerns with review of important empirical works, concerning stock market development and economic growth starting from 1873 to 2008. Some important studies and their finding are presented in tabular form in chorological order. The review of literature is undertaken in three sections. The first section focuses on the review of empirical works carried out before 1990s with their major findings. Similarly, the second section deals with the review of studies carried out during 1990s and finally third section deal with the review of studies during 2000.

 

2.1.1 Review of Empirical Works before 1990s

 

During nineteenth and twentieth century, Bagehot (1873) and Schumpeter (1912) had focused on the constructive assistance of financial sector to economic growth. In the study the direction of causality between the higher growth in financial sector and country’s economic growth rate was not clear (Robinson, 1952 and Locus, 1988). In the wake of a large body of empirical evidence, considerable studies have made on modeling and understanding the strong positive linkages between real and financial development. Much of this research has followed the “functional” approach in the analysis of such linkages.

 

 

 

Table: 2.1

Review of Empirical Works from 1873 to 1986

 

Study

Area

Major Findings

Bagehot (1873)

A description of money market with currency monopoly.

Constructive assistance of financial sector to economic growth.

Schumpeter (1912)

The theory of economic development.

Technological innovation is the force underlying long-run economic growth.

Robinson (1952)

 

The Generalization of the General Theory, in The Rate of Interest and Other Essays.

 

There is a two-way causal relationship between financial development and economic performance.

Goldsmith (1969)

Association between levels of financial development with economic growth.

A significant association between the level of financial development and economic growth.

 

The “finance-led growth” hypothesis postulates the “supply-leading” relationship between financial and economic developments. It is argued that the existence of financial sector and financial intermediations in channeling the limited resources from surplus units to deficit units would provide efficient allocation resources by leading the other economic sectors in their growth process. Indeed, a number of studies argued that the development of financial sector has significantly promoted economic development (Schumpeter, 1912). The study argued that the technological innovation is the force underlying long-run economic growth.

 

Robinson (1952), on the other hand, concluded that the economic growth creates a demand for various types of financial services to which the financial system responds. Goldsmith (1969) reported a significant association between the level of financial development (defined as financial intermediary assets divided by GDP) and economic growth. The study however recognized that there is no possibility of establishing the confidence for the direction of the causal mechanisms.

 

The earlier studies on international stock market linkages focused on the identification of short-term benefits of international portfolio diversification. The study of Levy and Sarnat (1970) and Solnik (1974), examined the short-term correlations of returns across national markets and pointed out the existence of substantial markets have high possibilities to diversify the risk internationally.

 

McKinnon  (1973) provided the evidences that liberalization of financial markets allows financial deepening which reflects an increasing use of financial intermediation by savers and investors and the monetization of the economy, which allows efficient flow of resources among people, and institutions over time. This encourages savings and reduces constraint on capital accumulation and improves in allocating efficiency of investment by transferring capital from less productive to more productive sectors.

 

Another group of studies concentrated on examining financial links among stock markets by using either bivariate or multivariate co-integration methodology. Taylor and Tonks (1989) were the first to apply bivariate co-integration on the UK and U.S. markets to test the importance of the abolition of foreign exchange controls in 1979. Furthermore, the empirical evidence was not conclusive, while a strong empirical causal relationship among the banking system, stock market development and economic performance was hardly established. Financial development is considered as a means to economic growth through various channels. An important role of financial intermediaries is to provide liquidity to individual investors (Diamond and Dybvig 1983). Similarly study of Stiglitz and Weiss, (1981); and Cho, (1986) concluded that the returns does not increase as the interest rate to borrowers rises.

 

 

 

 

 

Table: 2.2

Review of Empirical Works from 1881 to 1986

 

Study

Area

Major Findings

Shiller (1981)

 

Do stock prices move too much to Be Justified by Subsequent Changes in Dividends?

Price movements cannot be simply justified by changes in fundamentals.

Stiglitz and Weiss (1981)

Credit rationing in markets with imperfect information

Due to stagnant bank returns, increase in interest rate does not increase its return.

Diamond and Dybvig (1983)

A simple example, Federal Reserve Bank of Richmond.

An important role of intermediaries is to provide liquidity to individual investors.

Lucas (1988)

 

On the mechanics of economic development.

Not clear findings about the causality between financial sector and economic growth.

Taylor and Tonks (1989)

 

The internationalization of stock markets and the abolition of U.K. exchange control

There is multivariate co-integration on UK and US market.

Romer (1986)

Increasing returns and long run growth

 

Increase in productivity will cause economic growth.

Cho (1986)

Inefficiencies from financial liberalization in the absence of well-functioning equity markets.

Returns do not increase as interest rate rises.

 

At the theoretical level, the study of stock markets and growth gave new impetus with analyses of the design of optimal financial contracts under asymmetric information in dynamic general equilibrium models. The study of Bernanke and Gertler, 1989 concluded that the evolution of the financial system led to financial contract which emerged to solve the problems of moral hazard. The study concluded that when the firms are in need of external finance face a cost minimization problem, which they must solve by issuing different forms of financial contracts under different circumstances.

 

2.1.2 Review of Empirical Works during 1990s

 

Stock exchanges are expected to increase the amount of savings channeled to corporate sector. Some evidence can be found in the work of Greenwood and Jovanovich (1990). Furthermore, the study concluded that the stock markets play an important role in allocation of capital to corporate sector that in turn stimulates real economic activity. Many countries are facing financial constraints particularly developing countries, where bank loans are restricted to some favorable groups of companies and personage investors. This limitation can also reflect constraints in credit markets (Mirakhor and Villanueva, 1990).

 

Table: 2.3

Review of empirical work from 1990 to 1991

 

Study

Area

Major Findings

Mirakhor and Villanueva (1990)

Market integration and investment barriers in emerging equity markets.

There are high constraints in credit markets.

Greenwood and Jovanovich (1990)

 

Financial development, growth, and the distribution of income.

Financial markets and financial institutions can affect capital accumulation.

Vishny (1990)

 

The stock market and investment.

Stock market on an aggregate level does not predict the future investment.

Levine (1991)

 

Stock markets, growth, and tax policy.

Strong positive relationship between stock market liquidity, productivity improvements and capital accumulations.

Bencivenga and Smith (1991)

 

Financial intermediation and endogenous growth.

Financial agents can affect savings decisions by reducing liquidity costs.

 

The ability of financial intermediaries to offer profitable investments enhances savers’ confidence and attracts additional savings. The efficient operation of financial intermediaries leads to output growth and generates additional demand for deposits and financial services (Greenwood and Jovanovic, 1990). Financial institutions can affect agents’ savings decisions by reducing liquidity costs and offering greater opportunities for diversifying risks (Bencivenga and Smith, 1991). Portfolio diversification, through the stock market, may have an additional growth effect by encouraging specialization of production (Saint-Paul, 1992).

 

In addition, some studies concluded that stock markets could improve corporate governance by alleviating the principal-agent problem between the owners and managers (Jensen and Murphy, 1990). By contrast, other studies pointed out that stock market development could have negative effects by facilitating hostile counter-productive takeovers (Vishny, 1990). Moreover, some argue that takeover threats could hassle managers that discourage long-term investment, and therefore lead to inefficient allocation of resources (Singh and Weiss, 1998). Furthermore, some assert that stock markets, by providing profit incentives, are more effective than banks in information acquisition and dissemination and therefore could enhance quality of investment and thus stimulate growth (Holmstrom and Tirole, 1994). On the contrary, some others believe that banks are superior to stock markets in that they could monitor firms’ investment and management at a lower cost. They contend that in reality, due to dispersed stock ownership, individual investors are relatively small and they neither have the ability nor the incentives to acquire the costly yet necessary information for achieving efficient resource allocation (Bhide, 1993; Singh, 1993).

 

Contrary to traditional view, there are evidences that support the hypothesis that there exist long-run correlation between stock market development and economic growth. But in literature the testing of this hypothesis is rare for developing countries. However, Pardy (1992) in his seminal work has argued that in less developed countries capital markets are able to mobilize domestic savings and allocate funds more efficiently. Spears (1991) reported that in the early stages of development, financial intermediation induced economic growth. Demirguc-Kunt (1994) has supported the view that stock markets promote economic growth.

 

A number of subsequent studies adopted the growth regression framework in which the average growth rate in per capita output across countries is regressed on a set of variables controlling for initial conditions and country characteristics as well as measures of financial market development (King and Levine, 1993a). The study further analyzes the relationship between financial development and real GDP per capita growth, the rate of physical capital accumulation, and increases in efficiency over the period from 1960-89. The study measured the financial development by using the financial depth ratio (ratio of liquid liabilities to GDP), the level of banking, the ratio of credit issued to non-financial private firms to total credit and the ratio of credit issued to private firms to GDP. The study revealed that higher levels of financial development are positively associated with faster rates of economic growth and that the level of financial development is a good indicator of future growth prospects.

 

Robert Barro (1990) reported that in the case of US, stock market variables and stock returns, can largely explain the subsequent aggregate investments. On the contrary, Morck et al (1990) suggested that in the US, the stock market on an aggregate level is not much of a predictor of future investment. Meanwhile, a study by Galeotti and Schiantarelli (1994), based on quarterly aggregate data from the non-financial corporate sector in the US, revealed that investment decisions are significantly affected by stock price fluctuations, regardless whether the variation is due to fads or due to changes in fundamentals. On the other hand, firm- level studies typically showed that there is a very limited effect of the stock market on investment (Abel and Blanchard, 1986; Morck, Shleifer, and Vishny, 1990; Blanchard, Rhee, and Summers, 1993).

 

Table: 2.4

Review of Empirical Works from 1992 to 1993

 

Study

Area

Major Findings

Saint-Paul (1992)

Financial markets and economic development.

Stock markets have additional growth effect.

Pardy (1992)

Institutional reform in emerging securities markets.

 

In less develops countries the capial maket are able to mobilize domestic savings.

King and Levene (1993)

Finance and growth

Rate of physical capital accumulation has increased in efficiency over the period from 1960 to 1989.

Atje, and Jovanovic, (1993)

Stock market and development

Significant correlation between the stock markets and economic growth.

Pagano (1993)

 

Financial market and growth.

Financial growth can affect the rate of economic growth by altering productivity growth and the efficiency of capital.

Bhide (1993)

The hidden cost of stock market liquidity.

Highly liquid market may reduce the shareholders incentives to monitor managers.

 

Atje and Jovanovic (1993) concluded that there is a large effect of stock markets on economic growth but no relationship for bank lending on economic growth. Alternatively, Harris (1997) argued that the Atje and Jovanovic results are not supported by empirical results. Harris analyzed data for forty-nine countries over the period from 1980-91 for the growth in GDP per unit of effective labor, investment as a percent of GDP, the growth of total employed labor and the total value of shares traded on the stock market as a percent of GDP. The study reported that the level of stock market activity has little explanatory power in the sample of developing countries and weak explanatory power for the sample of developed countries. The study of Stiglitz (1994) provided the evidence that when the stock prices is determined by publicly available information then it help investors make better investment decisions. Better investment decisions by investors means better allocation of funds among corporations and, as a result, a higher rate of economic growth. In efficient capital markets prices already reflect all available information, and this reduces the need for expensive and painstaking efforts to obtain additional information.

Table: 2.5

Review of Empirical Work for 1995 AD

 

Study

Area

Major Findings

Bencivenga, Smith,and Starr (1995)

Transactions costs, technological choice and endogenous growth.

Theoretical predications on strong connections between stock market liquidity and fast growth.

Bencivenga et al. (1995)

Transactions costs, technological choice and endogenous growth

Enhanced stock market liquidity reduces the disincentives for investing in long duration and higher return projects since investors can easily sell their stake in the project.

Longin and Solnik (1995)

 

Is the correlation in international equity returns constant: 1960-1990?

By applying sophisticated techniques they found evidence of significant linkages between the stock markets around the world.

 

Hamao et al. (1990), Koch and Koch (1991), Roll (1992), Longin and Solnik (1995), used more sophisticated econometric techniques to measure cross-country correlations, and found evidence of significant linkages between stock markets around the world. Some other studies focused on the evolution of linkages of emerging capital markets. Studies such as Harvey (1995), but particularly Bekaert and Harvey (1995), examined one period returns and the conditional means and variances of one period returns by examining a one factor asset pricing model. The study concluded that the expected returns in a country are affected by their covariance with country’ returns. The study further concluded that if the market was perfectly integrated then only covariance counted, while if the market was completely segmented then the variance was the relevant measure of market risk. Bekaert and Harvey (1995) used a conditional regime-switching model to account for periods when national markets were segmented from world capital markets and when they became integrated later in the sample.

 

 

Table: 2.6

Review of Empirical Work for 1996 AD

 

Study

Area

Major Findings

Demetriades and Hussein (1996)

Does financial development cause economic growth?

There is bi-directionality and reverse causality between financial development and economic development.

 

Diamond (1996)

Financial intermediation as delegated monitoring: A simple example, federal reserve bank of Richmond

Financial intermediaries encourage highly productivity firms reducing informational asymmetries and costs.

 

Levine and Zervos (1996)

 

Stock market development and long-run growth.

Equity market activity is positively correlated measures of real economic activity.

Benchivenga, Smith and Starr (1996)

 

Equity markets, transaction costs and capital accumulation.

Positive role of liquidity provided by stock exchanges on real asset investments.

 

There are not much empirical research investigating causal relationships between stock exchanges and economic growth. One study worth mentioning here belongs to Levine and Zervos (1996). The study applied regression analysis to the data compiled from 41 countries for the years 1976 through 1993 to see the relationships between financial deepening and economic growth. One of the financial deepening indicators used in the analysis was the level of development of stock exchange measured by a composite index, liquidity and diversification indicators. Economic growth indicator selected, on the other hand, was the real growth rate in per capita GDP. Levine and Zervos reported a very strong positive correlation between stock market development and economic growth. The most interesting aspect of this study was the decrease in the statistical significance of other financial deepening variables after stock market development index was included in regression equation. The study concluded with the proof that stock market development is more influential than other financial deepening indicators on the growth of the economy.

 

Traditional growth theorists believed that there is no correlation between stock market development and economic growth because of the presence of level effect not the rate effect. Singh (1997) contended that stock markets are not necessary institutions for achieving high levels of economic development. The study focused on the rapid growth of stock markets in the liberalization process in developing countries over the 1980s and 1990s and argued that financial liberalization (making the financial system more fragile) is not likely to enhance long-term growth. Singh and Weis (1999) viewed stock market as a agent that harm economic development due to their susceptibility to market failure, which is often manifest in the volatile nature of stock markets in many developing countries. The traditional assessment model of stock prices and the wealth effect provided hypothetical explanation for stock prices to be proceeded as an indicator of output (Comincioli, 1996). According to wealth effect, however, changes in stock prices cause the variation in the real economy.

 

Although empirical tests of the relationship between financial development and economic development are not consistent, the bulk of the evidence supports a relationship between financial development and economic development. Demetriades and Hussein (1996) found the evidence of both bi-directionality and reverse causality by using unit root tests, co-integration tests and vector auto-regression tests of causality. The study concluded that financial development causes economic growth, economic growth causes financial system development, and in some cases, the causality is in both directions. As independent variables, the study has used the ratio of bank deposit liabilities to nominal GDP and the ratio of bank claims on the private sector to nominal GDP. The dependent variable is real GDP per capita in local currency terms. Rajan and Zingales (1998) predicted the average annual real growth of value added in an industry in the United Stated over the period from 1980-90. As predictor variables the study used the proportion of investments funded with external financing and the ratio of capital spending to net property, plant, and equipment. Industries were further divided into young and old companies. This process helped them to differentiate industries that were more or less dependent on external financing. The study wanted to test if financially dependent industries perform better in countries that have more developed financial sectors. As measures of financial development in each of forty-one countries. The study used the ratio of domestic credit plus stock market capitalization to GDP, the ratio of domestic credit to the private sector relative to GDP, and an index of accounting transparency. They study revealed that the financial development facilitates economic development by providing cheaper funds to growing industries.

 

 

 

Table: 2.7

Review of Empirical Works from 1997 to 1999 AD

 

Study

Area

Major Findings

Harris (1997)

Stock markets and development

Level of stock market activity has little explanatory power in the developing country sample and weak explanatory power for the developed country sample.

Singh (1997) and Weis (1999)

Financial liberalization, stock markets and economic development.

Stock market is a agent that harm economic development due to their susceptibility to market failure.

Raguraman and Zingales (1998)

Financial dependence and growth.

Financial developmet facilitates economic development  by providing cheaper funds to growing industries.

Levine and Zervos (1998)

Stock markets, banks and economic growth.

Strong and statistically significant relationship between the stock and GDP.

Luitel and Khan (1999)

A quantitative reassessment of the finance-growth nexus.

Financial development is very supportive to economic development.

 

The development of endogenous growth theory in recent years has offered the opportunity to define and explain the link between financial development and economic growth. The study of Pagano (1993) and Levine (1997) concluded that the financial development could affect the rate of economic growth by altering productivity growth and the efficiency of capital. It also affects the accumulation of capital through its impact on the saving rate or by altering the proportion of saving.

 

Benchivenga et al (1996) emphasized that there is positive role of liquidity provided by stock exchanges on the size of new real asset investments through common stock financing. Investors are more easily persuaded to invest in common stocks, when there is little doubt on their marketability in stock exchanges. Some contrary opinions do exist regarding the impact of liquidity on the volume of savings, arguing that the desire for a higher level of liquidity works against propensity to save (Benchivenga and Smith, 1991), (Japelli and Pagano 1994), such arguments were not well supported by empirical evidence. The second important contribution of stock exchanges to economic growth is through global risk diversification opportunities. Saint-Paul (1992), Deveraux and Smith (1994) and Obstfeld (1994) argue quite reasonably that opportunities for risk reduction through global diversification make high-risk high-return domestic and international projects viable and consequently, allocate savings between investment opportunities more efficiently. Whether global diversification might reduce the rate of domestic savings (Deveraux & Smith 1994) seemed to be a weak argument, as it is not convincingly evidenced.

 

Levine and Zervos (1998) analyzed by using stock market liquidity (turnover of shares and value), size (market capitalization), volatility (twelve month rolling standard deviation), integration with world markets (CAPM and APT intercept terms), and bank credit for the private (bank credit to the private sector to GDP) as predictors of economic growth, capital accumulation, improvement in productivity, and savings growth rates for forty-seven countries from 1976-93. The study reveals a positive relationship between stock market and bank development and economic growth, capital accumulation, and productivity growth. The authors conclude that stock markets provide an easy means to trade the ownership of productive assets, which facilitates resource allocation, which, in turn, facilitates capital formation, which leads to faster economic growth.

           

In the framework of the new growth theory, surprisingly few empirical studies of the relation between stock market and economic growth are available. The one important study mentioned earlier is one by Levine and Zervos (1998) who are among the first to ask whether stock markets are merely burgeoning casinos or a key to economic growth and to examine this issue empirically, finding a positive and significant correlation between stock market development and long run growth. The work of Luintel and Khan (1999), among others, is supportive of this view.

 

2.1.3 Review of Literature during 2000

 

Empirical work done in the past two decades mostly focused on the role of financial development in stimulating economic growth, without taking into account of the stock market development. Evolution of stock market has impact on the operation of banking institutions and hence, on economic promotion. This means that stock market is becoming more crucial, especially in a number of emerging markets and their role should not be ignored (Khan and Senhadji, 2000).

 

Beck et al (2000) analyzed the relationship between financial development and economic growth, total factor productivity growth, physical capital accumulation rates

and private savings rates. The study reported that there is a large positive effect of financial intermediaries and total factor productivity growth and economic growth but a lesser effect for long-term economic growth and total factor productivity growth.

 

Wurgler (2000) analyzed the relationship between financial markets and capital allocation in sixty-five countries from 1963-95. The study revealed that countries with more developed financial markets shift capital to growing industries and away from declining industries. The efficiency of the financial system is inversely related to government ownership in the economy and directly related to information availability for firms and legal protections for minority stockholders.

 

Table: 2.8

Review of Empirical Work from 2000 to 2004 AD

Study

Area

Major Findings

Beck, Levene and Loayza (2000)

Finance and sources of growth.

There is a large positive effect of financial intermediaries and total factor productivity growth.

Wurgler (2000)

Financial market and allocation of capital.

The efficiency of financial system is inversely related to information availability for firms and legal protections for minority stockholder.

Arestis et al. (2001)

Financial development and economic growth.

Both stock market and bank may be able to help in economic development.

Bell and Rausseau (2001)

A case of finance lend industrialization

Financial development in India has instrumental role for promoting economic performance.

 

Mishkin (2001) and Caporale et al (2004)

Financing, savings, capital and risk.

Financing productive projects mobilize domestic savings, allocate capital and diversify the risk, facilitate exchange of goods and services.

 

 

Tuncer and Alovsat (2001) examined stock market-growth nexus and exhibited positive casual correlation between stock market development and economic activities. Chen et al (2004) elaborated that the nexus between stock returns and output growth and the rate of stock returns is a leading indicator of output growth.
The study of Phylaktis and Ravazzolo (2001) measured financial linkages by analyzing the covariance of excess returns on national stock markets of emerging economies. A major advantage of this framework is that by examining the co-movement of future returns aggregated over a long horizon instead of the co-movement of one period expected returns one can detect small but persistent movements in expected returns and more accurately measure the degree of financial integration than one period stock return regression models.

 

The study of (Arestis, Demetriades and Luintel, 2001) found that in countries like Germany, stock market volatility has a significant and negative impact on growth. Another point worthy of note is that studies based on a cross-country framework in general have omitted China due to lack of data. Needless to say that given the increasing role of China in the world economy, understanding China is important in its own right. The study used a vector autoregressive model to study the relationship between stock market development measures and economic growth for developed economies, controlling for the banking sector development. The study finds that the stock market and economic growth both may be able to promote growth, with the impact of the banking system being stronger. With well-functional financial sector or banking sector, stock markets can give a big boost to economic development (Rousseau and Wachtel, 2000; Beck and Levine, 2003).

 

Mishkin (2001) and Caporale et al (2004) provided the evidence that an organized and managed stock market stimulate investment opportunities by recognizing and financing productive projects that lead to economic activity, mobilize domestic savings, allocate capital proficiency, help to diversify risks, and facilitate exchange of goods and services. Undoubtedly, stock markets are expected to increase economic growth by increasing the liquidity of financial assets, make global and domestic risk diversification possible, promote wiser investment decisions, and influence corporate governance, that is, solving institutional problems by increasing shareholders’ interest value (Vector, 2005).

 

Bell and Rousseau (2001) evaluated the relationship between individual macroeconomic indicators and measures of financial development in India and revealed that the financial sector has been instrumental in promoting economic performance. Nourzad (2002) analyzed the effect of financial development on productive efficiency using eight measures of financial development for countries at different stages of economic development. The study analyzed three sets of panels of data: annual data for twenty-nine countries from 1966-90, annual data for eighteen countries from 1970-90, and five year average data for twenty-eight countries from 1970-90. The author finds that productive efficiency is greater in countries that have more developed financial sectors.

 

Table: 2.9

Review of Empirical Works from 2005 to 2007 AD

 

Study

Area

Major Findings

Shrestha (2005)

Stock Market and Economic Development.

Gross Domestic Product influence stock market.

Vinhas de Souza (2005)

 

Financial liberalization and business cycles: The experience of the new EU member states.

Capital market reform programs, government approved new laws are regulatory framework for capital market flourish.

Siliver and Duong (2006)

Role of stock market for real economic activity: evidence for Europe.

Stock market has certain predictive content for real economic growth.

Yartey and Adjasi (2007)

 

Stock market development in Sub-Saharan Africa: Critical issues and challenges

African stock market facing challenge of integration and need better technical and institutional development to address the problem of low liquidity.

 

Efficient stock markets provided guidelines to keep appropriate monetary policy through the issuance and repurchase of government securities in the liquid market, which is an important step towards financial liberalization. Similarly, well-organized and active stock markets could modify the pattern of demand for money, and would help create liquidity that eventually enhances economic growth (Caporale et al, 2004). Similarly, Siliverstovs and Duong (2006) revealed that the accounting for expectations has represented by the economic sentiment indicator in which stock market has certain predictive content for the real economic activity.

 

Paudel (2005) acknowledged that stock markets, due to their liquidity, enable firms to attain much needed capital quickly, hence facilitating capital allocation, investment and growth. Adjasi and Biekpe (2005) found a significant positive impact of stock market development on economic growth in countries classified as upper middle-income economies. Bahadur and Neupane (2006) concluded that stock markets fluctuations helps in the prediction of the future growth of an economy.

 

 

2.1.4 Concluding Remarks

 

From the above, it may be seen that the effect of capital markets on economic growth has been a controversial subject. Some studies indicated the statistically significant effect of stock market development on economic growth while others did not. Similarly, some reported positive impact of stock liquidity on economic growth while some did not. In order to validate one view or the other in Nepalese context, no study has been so far conducted by using the recent data by considering Deminigue-Kunt and Levene’s stock market development index. This study therefore tests the above hypothesis concerning stock market development and economic growth in undeveloped country, Nepal.

 

 

 

Chapter 3: Research Methodology

 

3.1 Research Design

 

For the analysis of relationship between the stock market development and economic growth descriptive, co-relational and time series research design will be employed. For the purpose of conceptualization and description, the descriptive research design is going to be used. For the analysis purpose the study covers the time period of ten years. This study will be made on a macro level so it consists of all the sectors including commercial banks, manufacturing and processing organization, hotel sectors, trading, insurance, finance companies and, development banks and so on.

 

3.2 Nature and Sources of Data

 

This study will base on both primary and secondary data. Most of the data related to economic growth and stock market development will be collected from annual report and official reports of concerned organization. The required information will  be  supplemented by Ministry of Finance, Department of Industries, Commerce and Supplies, economic survey published by Nepal Government, quarterly economic bulletin published by Nepal Rastra Bank (NRB), National Planning Commission and Security Board of Nepal (SEBON), World Bank Report will be considered.

 

A field survey based on questionnaire and interview will also be conducted to collect opinions of different respondents in three groups. The respondents selected for the survey will be stock investors, general student and public who have not invested in shares to obtain the information in respect of economic performance and stock market development.

 

3.3 Selection of Enterprises

 

The study is related to aggregate values so aggregate values of economy that is determinants of macroeconomic indicators and aggregate value of market activities that is determinants of stock market developments are going to be selected.

 

3.4 Methods of Analysis

 

Analysis is the systematic and careful examination of available facts so that certain conclusions can be drawn from it. The major part of the study is based on the testing of association of stock market and economic growth.

 

3.4.1 Econometric Model

 

This study is heavily based on Levine and Zervos’s study on stock market development and long run growth. However, their study is based on cross-country regression, but this study considers time series analysis and single equation regression applied to the collected data.

 

Study will determine the casual relation between stock market development and economic growth then determine how they evolve over time and finally seek the relationship between the stock market development and its economic performance. Levine and Zervos (1996) suggested the following equation to evaluate whether there is any relationship between the stock market development and long run economic growth.

 

GDPt = aXt + bSTOCKt + µt                                                                                    (1)

 

Where GDP Growtht is the Gross Domestic Product growth rate and Xt is a set of control variables that is associated with GDP. These variables include government expenditure (EXPN), Public Investment (INV), public development aid (AID), foreign direct investment (FDI). In the same way STOCKt represents stock market development index. It includes market capitalization ratio (Mcap), liquidity ratio (Liquidt) and concentration ratio (Conct). A and B are unknown parameters to be estimated and Mt is an error term. We can consider the following equations in details.

 

GDPt = a1 Xt + b1 Mcapt + b2 Liquidt + b3 Conct + µt                                                               (2)

 

Government expenditure is selected as control variables because in underdeveloped country, government plays key role in economic growth for driving the different productive activities. Thus it can impact positively as well as negatively on economic growth. Public investment is selected as a control variable because if the public investment policy is directed correctly (for instance towards infrastructures development), it can impact significantly on economic growth, since public investment can target health, education, etc., which all contribute to increase total factor productivity. Public development aid is selected because in developing countries savings is inadequate so development aid is an ‘oxygen pipe’ for nation’s development. Foreign direct investment is taken because it measures the private investment as domestic investment is very low as compared to it so it is ignored here.

 

The Liquidity ratio variable represents the turnover ratio measured as the value of total shares traded divided by market capitalization (high turnover then high liquidity). Liquidity allows investors to easily buy and sell securities. As Levine and Zervos (1996) put it, stock markets may affect economic activity through their liquidity since investors are reluctant to relinquish control of their saving for long periods. Market capitalization ratio, which equals the value of listed shares divided by GDP, is taken as the indicator for stock market development. This ratio measures the stock market size, ability to mobilize the capital and helps to diversity the risk. Concentration ratio is the four firm concentration ratios, which is measured by dividing market capitalization of four largest stocks by total market capitalization. If few companies dominate the market, they can manipulate the price formation process. Thus a high concentration ratio is not desirable. Countries with highly concentrated markets have markets that are underdeveloped. So market concentration is hypothesized to be negatively correlated with market size and market liquidity.

 

3.4.2 Correlation Analysis

 

Correlation analysis is necessary in order to find out whether the selected variables in time series have any relation or not. If there is no correlation there would be no causality so this test is necessary.

 

A mathematical formula for measuring the correlation developed by Pearson is as follows.

 

                  (3)

 

Where r is a correlation coefficient, Xt and Yt are two variables whose correlation is to be calculated. Correlation is a measure of the relation between two or more variables. The measurement scales range from -1.00 to +1.00. The value of -1.00 represents a perfect negative correlation, while a value of +1.00 represents a perfect positive correlation. A value of 0.00 or close to zero represents a lack of correlation.

 

3.4.3 Time Series Analysis of the Data

           

For the data analysis purpose the following time series analysis is made. They are as follows.

 

3.4.3.1 Unit Root Tests:

 

According to Nelson and Plosser (1982), Chowdhury (1994) there exists unit roots in most macroeconomic time series.  While dealings with time series, it is necessary to analyze whether the series are stationary or not. Since regression of non-stationary series on other non-stationary series leads to what is known is spurious regression causing inconsistency of parameter estimate (Engle and Yoo, 1987). The hypothesis behind is that random shocks in economy have long lasting effects (Engle & Granger, 1987). The most popular of these tests are the Augmented Dickey-Fuller (ADF) test and the Phillips-Perron (PP) tests. ADF test will be considered for this study because ADF tests use a parametric autoregressive structure to capture serial correlation.

 

3.4.3.2 Co-integration Test

 

The finding that many macro time series may contain a unit root has spurred the development of the theory of non-stationary time series analysis. Engle and Granger (1987) pointed out that a linear combination of two or more non-stationary series may be stationary. If such a stationary linear combination exists, the non-stationary time series are said to be co-integrated. The stationary linear combination is called the co-integrating equation and may be interpreted as a long-run equilibrium relationship among the variables. The purpose of the co-integration test is to determine whether a group of non-stationary series is co-integrated or not. Eviews5 statistical software implements VAR-based co-integration tests using the methodology developed in Johansen (1991, 1995a).

 

There are two different methods for testing for co-integration, Engle & Granger (1987) and Johansen (1988). Jung and Seldon (1995) state that the Johansen co-integration test is more valid as there is no need of prior knowledge of the co-integration vectors, in cases when they are unknown. As this study does not have the co-integration vectors it is better to use the Johansen (1988) test. The Johansen methodology utilizes Vector Auto Regression (VAR) to test the co-integration. The Johansen (1988) method of testing for the existence of co-integrating relationships has become standard in the econometrics literature because of its superiority over other alternatives.

 

3.4.3.3 Granger Causality between Economic Growth and Stock Market Development

 

Measuring the correlation (similarities in strength and direction between two graphs) between variables such as GDP and STOCK would according to Granger (1969) not be enough to construct a complete understanding about the relationship between two time series. The reason is that some correlations may be spurious and not useful, as there might be a third variable that cannot be accounted for. For example there is a correlation between teacher’s salaries in the UK and the consumption of alcohol in the UK. Another example is that ice cream sales are correlated to shark attacks on swimmers (Lethen, 1996). In both examples it would be highly unlikely that one causes the other but that there exists other hidden variables affecting both. There is a correlation but no causal connection.

 

By using the Granger causality approach with the question if variable X (in a time series), causes variable Y (in another time series), a researcher wants to see how the value of the existing Y can be explained by past values of Y. And then by adding lagged values of X add to explanation of the relationship (Eviews 5.0 statistical software)

 

This does in practice imply that if you find a variable that is Granger causing another variable in a certain direction or both, manipulation of one would affect the other.  To reduce spurious results the process of finding Granger causality also involves finding out other relations between the time series and such relations include looking at correlation and co-integration (Sahlin and Sjogren, 2008). So this study is not only looking at the correlation, co-integration and causality but also looking at a further developed relationship between the time series. This is combined to produce an answer to if there is a relationship between the variables. Hence, in this study the word relationship stated by statistical software is used as a generic term for the combined correlation, co-integration and causality time series. For the calculation purpose the following equations have to be estimated.

 

3.4.4.4 Other Statistical Tools Considered

 

For our data presentation and analysis other statistical tools will be. They are mean, median, standard deviation, maximum and minimum, T-test, F-test and Standard Error of Estimate (SEE).

 

 

 

Chapter 4: Concluding the research proposal

 

There are many studies that have examined the relationship between growth and stock markets using either cross country or panel methods. However their empirical approach typically suffers from serious econometric weakness. Traditional growth theorists believed that there is no correlation between stock market development and economic growth. Singh (1997) argues that stock markets are not necessary institutions for achieving high levels of economic development. Some recent studies have stated that stock markets play an important role in allocation of capital to corporate sector that in turn stimulate real economic activity. Studies of Caporale (2004), Vector (2005), Mishkin (2001) and few other studies too state that an organized and managed stock market stimulates economic activities. Most of these studies have reported positive effects of stock on economic growth. One group of study argues that stock markets do not help in economic development of a nation while the other group argues that it help in economic development.

 

With this contrast view, this study attempts to find possible connection between stock market development and economic growth with reference to Nepal. The variables selected for the study are Gross Domestic Product (GDP), Government Investment (INV), Government Expenditure (EXPN), Foreign Aid (AID), Foreign Direct Investment (FDI), Market Capitalization Ratio (MCAP), Concentration Ratio (CONC) and Liquidity (LIQDT).

 

 

 

Bibliography

 

Abel, Andrew B. and Blanchard, Olivier J. (March 1986), “The Present Value of Profits and Cyclical Movements in Investment.” Econometrica, Vol. 54, No. 2, pp. 249-273.

 

Adjasi, Charles K.D. and Nicholas B. Biekpe (2005), “Stock Market Development and Economic Growth: The Case of Selected African Countries.”  Working Paper, African Development Bank.

 

Arestis, Philip; Demetriades, Panicos O; and Luintel, Kul B. (2001), “Financial Development and Economics Growth: The Role of Stock Markets.” Journal of Money, Credit, and Banking, Vol. 33, No. 1, pp. 16-41.

 

Atje, Raymond and Jovanovic, Boyan (April 1993), “Stock Markets and Development.” European Economic Review, Vol. 37 No. 2/3, pp. 632-40.

 

Bagehot, Walter (1873), A Description of Money Market with Currency Monopoly, Homewood, Lombard Street, 1962 Edition.

 

Barro, Robert (1990), “The Stock Market and Investment.” Review of Financial Studies, Vol.3, No. 1, pp. 115-131.

 

Bastola, P. (2003), Impact of Stock Market in Development, unpublished Masters Dissertation, Faculty of Management, Tribhuvan University.

 

Beck, Thorsten, Ross Levine and Norman Loayza (2000), “Finance and the Sources of Growth.” Journal of Financial Economics, Vol. 58, pp. 261-300.

 

Beck, T. and R. Levine (2003), “Stock Markets, Banks, and Growth: Panel Evidence.” Journal of Banking and Finance.

 

Bekaert, G. and C.R. Harvey (1995), “Time-Varying world market integration.” Journal of Finance, Vol. 50, pp. 403-444.

 

Bell C. and P. L. Rousseau (2001), “Post-Independence in India: A Case of Finance Lend Industrialization.” Journal of Development Economics Vol. 65, pp. 153-175.

 

Bencivenga, V.R. and Smith B. (1991), “Financial Intermediation and Endogenous Growth.” Review of Economic Studies, Vol. 58, pp. 195-209.

 

Bencivenga, V.R.; Smith, B. and Starr, R. M. (1996), "Equity Markets, Transaction Costs, and Capital Accumulation: An Illustration." The World Bank Economic Review, Vol. 10 No. 2, pp. 241-265.

 

Bernanke, B. and M. Gertler (1989), “Agency Costs, Net Worth, and Business Fluctuation.” American Economic Review, Vol. 79, pp. 14-31.

 

Bhide, Amar (August 1993), "The Hidden Costs of Stock Market Liquidity," Journal of Financial Economics, Vol. 34, No. 2, pp. 31-51.

 

Blanchard, Olivier, Rhee, Changyong, and Summers, Lawrence (1993), “The Stock Market, Profit, and Investment.” Quarterly Journal of Economics, Vol. 108, pp. 115-36.

 

Capora

About the Author

Author has completed the Masters Degree in Business Studies with finance as a specialization from Tribhuvan University, Nepal.

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Nevertheless, even if a business owner has a fantastic idea and a tremendous potential for success, incorrect decisions at the start of the road may decide the fate of the business already at its infancy. Most of these incorrect decisions in opening a business result from a lack of knowledge of legal and accounting affairs connected with establishing a business. In order to assist businesses at the outset, we hereby submit a complete manual for opening a business:


Location of the business


Throughout the country and in the center of the large cities, there are many areas available for leasing. The prices are lower than at any time and one can choose the most suitable building for the business's needs. In a new business, it is not recommended to sign a lease for over a year, but to have an option to extend the lease under identical conditions. A short-term agreement will ensure the transferring of the business to another place should the chosen location not be successful from the business's point of view. When choosing the location of a business, remember that the costs of transferring it are very high and include transport, renovations, etc.; and therefore, it is most important to choose a suitable location.


Bank and credit frameworks


Despite the fact that many self-employed continue to run the business also using their private bank account, this is not recommended. The management of a separate account for the business provide a more precise indication of the business result and makes the management of cash flows in the business easier. In addition, in order to recognize bank expenses and commissions as recognized expenses, the tax authority requires the business to have its own account.


It is recommended that the business account will not be kept in the bank in which the private account is kept. Generally, the bank will see both accounts as one account for the purpose of giving credit frameworks and calculating indebtedness. The opening of a bank account with another bank can increase the credit framework given to the business.


It is very important to see the bank as a partner and to maintain a positive reputation with it. When a problem is expected in cash flows, it is recommended to inform the bank and come to a joint solution. Cooperation with the bank is even more important due to the new regulations which forbid the bank to allow an overdraft without approval as from July 1, 2006. Maintaining good relations with the bank does not contradict that it is recommended to negotiate the amount of interest and commissions, and in this way to save money.


Funds for small businesses


One of the central problems of new businesses and businesses in general is credit difficulties. In Israel, there are many funds that operate and encourage new, small, and medium - sized businesses with the method of granting credit changing from time to time.


Generally, assistance is given to businesses that already exist and operate, but there are also funds that give loans to businesses being established. At the time of taking credit, it is important to ensure that the business can meet the monthly repayment. For businesses that cannot meet immediate repayment, there are loans where repayment is made only after a period which is decided in advance.


Value Added Tax


The business can operate only after registering and opening a VAT file.


There are two types of independent business:


a. An exempt business - where the expected annual turnover will not exceed NIS 65,720 - generally, these are small business and employees who are only starting their activities as self employed. Such a business only reports once a year to the VAT and does not collect and cannot set - off VAT. Businesses such as the liberal professions cannot register as exempt businesses, no matter what their revenues


b. A taxable business - anyone whose annual turnover is expected to exceed NIS 65,720 must be registered as a licensed dealer.


When filing an application to the VAT authorities for opening a business, you should have the following documents: an application to open a business signed by the dealer/partners, a photocopy of an identity card/identity cards, a cancelled bank check / any other document showing details of the bank account and details of the holder of the bank account and the rental contract.


In certain cases, the Value Added Tax Authorities are entitled to demand additional documents such as future engagement agreements etc.


Income Tax


After the change in the law, about a year ago, dealers are required to report to the Income Tax on the opening of a business, and anyone who does not do so is exposed to administrative fines. In order to register an independent business, an application to register one must be made with the assessing officer. Despite the fact that it is possible to open a business with the tax authorities independently, it is recommended to obtain the assistance of a CPA to do so.


Opening a deductions file for employees


If the business employs people, a deductions file must be opened with the assessing officer. The opening of a deductions files with the National Insurance Institute is carried out automatically by obtaining data from the Income Tax Authorities.


National Insurance Institute


In addition to registering VAT and income tax, an independent dealer must register also with the National Insurance Institute. Registration is done by completing the annual report form. The Institute requires that the number of hours expected and the level of expected income. There are two types of self employed in National Insurance:


1) A self employed person who meets the definitions of a self employed person - pays advances on account and insures the income for which he pays advances.


2) An independent who does not meet the definition - a dealer who works in the business less than 12 hours a week and earns less than NIS 3,692 per month. This status generally is suitable for employed people where the business provides him with complementary income. When the business is registered with the National Insurance Institute - the Institute examines whether insurance fees were paid from the age of 18 until the age of opening the business -whether there are periods where the dealer was abroad or did not work - he will be required to pay for these periods.


Keeping books of accounts


Every person who has income from a business or profession must keep books. The method of keeping books changes according to type and size of the business. At the start, it is recommended to keep close contact with a professional person - certified public accountant or tax consultant in order to obtain a detailed explanation of the method of managing the books and the procedures of issuing invoices and receipts. In addition, cooperation with a certified public accountant assists the business in understanding more correctly and releasing its owners from waiting unnecessary time.


Non keeping of proper books causes their disqualification by the tax authorities. This sanction is likely to result in a situation where the assessing officer will determine for himself the annual assessment that the business owes, and its owner will have to prove the exact income according to which the tax is paid.

__________________________


For additional details regarding the specific requirements of every client, send us your query and we will gladly get back to you with a response regarding your specific needs.

About the Author

The Azulai - Sutovsky Firm of Accountants, israeli cpa office.

В.Путин.6 Ежегодная большая пресс-конференция (Putin) Part 15

a guy i was seeing 2wks put complaint on me saying i viewed his medical record work suspended me privacyact?

found out he was on drugs and asked for money i said no he put in complaint. I did view his record he had appointment and left i had already viewed file to register him for appointment he is nowhere to be found im suspended pending termination after 15yrs of employment. he ruined my life i dont even remember what he looks like.

but hospital stated i violated hippa privacy act law. viewing his record and patient not seen he left before being seen

what can i do??? help

If it was required for you to read his medical record to register him for his appointment then you should first discuss that with your supervisor. However based on the fact they suspended you for reading the record it sounds to me like you are not supposed to read the record when setting up appointments.

I really can't see why you would have a need to read the record to setup an appointment.

You may want to see a lawyer if your supervisor is not helpful and you believe you followed policy and HIPPA.

Andrew Isaacs Solicitors Doncaster 01302 349480

Facebook's Gone Rogue; It's Time for an Open Alternative
Facebook's latest moves shows the company cares more about dominating the web than treating its users respectfully. It's time the web come up with an open alternative to return control to users.
Getting a job as a law student, law student employment

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Is it againts the law for your employer not to pay u for ur last week of employment if u quit?

I worked for detroit news and free press in michigan and after i quit they refused to pay me for the last six days i worked.

If you worked it then you earned it. They are required to pay you. If they give you problems then look into your legal options.

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People in business
Chris Stout, financial adviser with Shoemaker Financial, has been named a field director with the firm. He will work with the Nashville area sales team.
Non-Competition Agreements: Purpose of Noncompete Agreements

Is it legal to remove a minor (16 yrs old) from their place of employment without parental consent?

In the state of Kansas....If your not sure of State law, where can I find the complete answer?
I'm sorry...not referring to termination of a minor....referring to removing a minor...as In taking them from work to another location, while on the clock...
I work on an Air force Base, and was recently removed from my job...I'm only 16, and my parents were not contacted or acknowledge of the situation...can We do anything...or was this Justified?!
They removed me for questioning...but would it had been appropriate to have contacted my parents?!

If you mean fired of course it is. If you are referring to something else you will have to elaborate.*

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Are temp agencies in NYC obligated by law to pay vacation benefits after one year of employment?

Is it a law or company choice to pay for vacation time after one year of employment?

I am not sure but I doubt it. They are required by law to pay you minimum wage and overtime over 40 hours, even if there are 2 jobs are at 2 seperate sites. I don't think there is a law about paid vacation. You could check with the dept. of Labor.

NYC Board of Ed "teaches" its employees to break the law

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Charles Russell LLP United Kingdom: Fit notes - What do they mean for employers and employees?
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Employers likely have not noticed a significant shift in the enforcement of labor and employment laws under the Obama administration. That is about to change.
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Help for Homeowners in the Hardest Hit States

What is the following: 1. Employee Handbook 2. Code of Conduct 3. Employment Agreement?

Hi there,

I find this site very helpfull and very informative. Being a foreigner myself, working in China, i have some issues with my current company. I have only signed a chinese contract, and therefor I have no clue what is written in that contract. Untill now, I have complained to the employer several times about having an English contract. But still I have no english contract and therefor I do not understand what is written in the chinese contract that I signed. I also do not have my FEC in my posession. The employer said that I am not allowed to have that with me. But what I understand froim the chinese labour/employment law, it states that no employer have the right to keep any documentation of his/her employee. Am I right?

I also want to know if Saturdays & Sundays is rest days. And what hours should be worked for a week period.

Hope to hear from other people that have had the same problems as me. Any information will be much appreciated.

Employee handbook( and it varies from company to company) ... It tells you things whats to be expected as , wage, vacations, sick time, what to expect from that company.. Maybe a brief summery of the company
Code of conduct, is what they expect from you, rules regulations one must follow etc. like dress code, smoking, how they expect you to act while representing them as a company

Employment agreement , is something you sign that states that you've agreed to everything you may have watched on a video and all the info in the packet that you have read... In other words you have agreed to follow the standards of that company

added, I dont know about other countries but here in the US, most people that dont have to work their weekends are the Higher paying corporate jobs, many laborers/ blue collar workers have to work sat and sundays.... Most people in the us work a 40 hr work week at whatever the wage is they are paid... anything over 40 hrs is considered over time and they get paid more... It varies though as that is only for full time people and many only work part time and they dont get added benefits

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Denver Mesothelioma Attorneys

What is Mesothelioma?

The National Cancer Institute states that, “Malignant mesothelioma, a rare form of cancer, is a disease in which malignant cells are found in the lining of the chest or abdomen.”

How do you get Mesothelioma?

Most people who develop mesothelioma have worked on jobs where they inhale asbestos particles or have been exposed to asbestos dust and fiber in other ways like on the skin.

What are some of the Signs and Symptoms of Mesothelioma?

The symptoms of mesothelioma may not appear until 20 to 50 years after exposure to asbestos. Some of the signs and symptoms include: weight loss, shortness of breath, fatigue, acute pain in the abdominal region and chest area, abdominal swelling and anemia.

What are some of the Treatments used for Mesothelioma?

Treatments include: conventional therapies, surgeries, chemotherapy, radiation therapy, immunotherapy, and or a combination of treatment and medications.

Are there Legal Issues involved in Mesothelioma?

If you or someone you love has been diagnosed with mesothelioma, you may have legal right to seek compensation from the companies responsible for your exposure to asbestos. If you wish to seek compensation for your diagnosis and the pain and suffering that comes with mesothelioma, then it is important that you consult an attorney immediately.

What should I do after being diagnosed with Mesothelioma in Denver?

Once diagnosed with mesothelioma, and you are getting the proper care and treatment by a professional medical team, you should immediately seek legal advice and counsel from a knowledgeable mesothelioma attorney who has experience in such cases. Your mesothelioma diagnosis will require medical and legal advice, which is where a qualified Denver mesothelioma attorney can help you. A qualified Denver mesothelioma attorney will be able to tell you everything you need to know about your legal rights and the amount of compensation to expect. Mesothelioma attorneys have the expertise in settling mesothelioma cases. You deserve the best treatment both medically and legally, so seek the aid of a qualified Atlanta mesothelioma attorney as soon as possible.

Why do I need to file a Lawsuit?

Filing a mesothelioma lawsuit against your employer or big companies can be intimidating. However, these companies need to be held accountable for providing an unsafe working environment for their employees. Because of their negligence, you have to go through an enormous amount of pain and suffering.

It is not your fault that you were exposed to asbestos and it should not be your responsibility to bear the financial burden. This is a terrible disease and you should seek the compensation that you deserve. The treatment can be very expensive and can become a heavy burden on you and your loved ones during such a difficult time.
An experienced Denver mesothelioma attorney can help you get the compensation you and your family deserve. Hiring an attorney will also increase your chances of winning your lawsuit.

Is there a Statue of Limitation to file a Lawsuit?

The law imposes a statute of limitations however; it varies from state to state and Denver is no exception. This is why it is so important that you consult a mesothelioma attorney immediately, because you may only have a limited amount of time in which a lawsuit can be filed.

Where can I find a Qualified Mesothelioma Attorney in Denver?

If you live in Denver, you should consult with a Denver mesothelioma attorney who is experienced in handling such cases. Attorneys who handle mesothelioma cases represent clients who have suffered adverse health effects from exposure to asbestos either on the job or in products. Most mesothelioma attorneys have their own websites. You can do a search on the internet or ask your doctor for a referral to a mesothelioma attorney in the Denver area or ask your local bar association for recommendations.

About the Author

Denver Mesothelioma Attorneys

Recieve Experienced Legal Services from National Law Firm Burg, Simpson Eldredge, Hersh, & Jardine

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Find a Legal Advice of Employment Lawyer Over Employment Issues

Employment according to dictionary means service. Employment involves two parties; employer and employee. Usually there exists a form of contract or a set of terms and conditions in employment. The employer is the person who holds power and is ideally in the authoritarian position and the employee is the person hired to render service/labour. Employment is a very important facet of a working person’s life. To him, employment defines his existence; his life-style, standard of living and bare necessities of life are regulated by employment.

Individuals, in most cases are competent enough to manage employment issues or any employment related issues themselves. But in some cases, the situation becomes grave and tricky and legal help is asked for. There are well-defined laws in every form of employment. However, with changes in every field and every aspect of life, these employment laws are changing rapidly. Even the most tactful and competent employer seeks help of an Employment lawyer to keep things in control. This is from one point of view, i.e. the employer’s side of the story. Employees, working and serving whole-heartedly often become victims of ill-treatment, sudden dismissal or discrimination. Many king-size organizations have trade unions to maintain employee interests and job security. But they also need the advice of employment lawyers to save their interests fighting against the employer.

Duncan Lewis & Co. is one of the leading and fastest growing law firms in U.K. Since its birth in 1998, Duncan Lewis & Co. have earned both name and fame in serving country’s corporate bodies and individual private clients with quality legal advice and winning law cases of any form. Duncan Lewis & Co. is highly reputed for settling the most complicated employment disputes. Employment law is changing everyday with all new forms of modernity and you really need to take expert assistance to sort any employment issues.

Our clientele ranges from individual Employees to small or big Employers and we render our service to all of them alike. We assist employees in case of sudden change of employment contract, sudden dismissal, racial/sexual harassment, bullying at work, holiday/sick pay or maternity rights, employee representation at Tribunals and settling any other unique employment hazards. Our employment department is available to help you in advising or making any employment legislation. It includes all issues regarding drafting of contracts, making agreements and negotiations, dismissals, defending claims against discrimination and the like.

Duncan Lewis & Co. helps you resolve any employment related issues or disputes at competitive rates and you are sure to get value for money. Clients are satisfied by the quality service they get from us and contact us time and again, whenever needed. For any employment related advice, visit duncanlewis.co.uk for immediate results.

About the Author

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Can I sue my employer because of this? 10 PTS BEST ANSWER?

I am a 1099 employee in Florida, but I am under NO contract, work SET hours, and I am on a set salary (no commission). I am not "self employed". They are going to "let me go". It is for a lawyer that I work, but obviously I don't deal with employment law. Do I have any legal recourse in this? They have done many other things that I could sue for, but this is HUGE to me because now I can't collect unemployment. Any help would be GREATLY appreciated. 10 PTS BEST ANSWER. Thank you soooo much!
Sassy..I have a reason for not saying anything..it was another company before and I was a legit 1099 employee, they switched to another company and that's when they put me on 1099 and gave me no choice in the matter. It's hard to find a job, so I wasn't about to quit

File a complaint with the Florida Unemployment Commission. Tell them that you were misclassified as "contract labor" instead of as an employee, and that you are entitled to unemployment benefits.

They will do an investigation. They should rule in your favor, but if they don't, tell them that you want to request a "hearing."

Be very firm in your insistence that you were an employee, and not an independent contractor.

Contact them as soon as possible.

http://www.floridajobs.org/unemployment/uc_appeals_comm_default.html

You should not have any trouble getting unemployment benefits.

A note regarding "employee contracts." If, by definition of the law a person is an employee (under direction or control as it relates to job performance), any "employee contract" is an ILLEGAL CONTRACT and is against the law. It is totally worthless and is NOT admissable in court. It's not worth the paper it's written on. You cannot make a contract that is in violation of the law!

One more thing . . . You are NOT required to have any "proof" of wages or anything. The State is required to investigate all claims of misclassification of wages. If you contact them and tell them that they have workers that they are calling contract labor, then the State will do an investigation. The State is required to do this. They will investigate all of their accounting records for the last 3 years. The results will also be given to the IRS and eventually the IRS will also assess the business for Federal unemployment taxes also. No proof is necessary.

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Design of metal detector using the induction balance system application

Design of metal detector using the induction  balance system application

                                      1 James agajo 2 Azih Conelius 

Dept. of Electrical and Electronics Engineering,  Federal Polytechnic, Auchi, Edo state Nigeria        

                        Phone: +2348053312732 , agajojul@yahoo.com

ABSTRACT: An embedded system logic approach was used to achieve metal detection,. The controller is simulated to realize this. Three technologies were used Very low frequency (VLF) Pulse induction (PI) Beat-frequency oscillation (BFO) , The issue of safety and security were also emphasized.

Keyword: Microcontroller, low frequency, detector, security, oscillators, sensors

1.0                   INTRODUCTION

Towards the end of the 19th century, many scientists and engineers used their growing knowledge of electrical theory in an attempt to devise a machine which would pinpoint metal. The use of such a device to find ore-bearing rocks would give a huge advantage to any miner who employed it. The German physicist Heinrich Wilhelm Dove invented the induction balance system, which was incorporated into metal detectors a hundred years later. Early machines were crude, used a lot of battery power, and worked only to a very limited degree. Alexander Graham Bell used such a device to attempt to locate a bullet lodged in the chest of American President James Garfield in 1881; the attempt was unsuccessful because the metal bed Garfield was lying on confused the detector.[1]

1.2  Trends

Many manufacturers of these new devices brought their own ideas to the market. Whites Electronics of Oregon began in the 50's by building a machine called the Oremaster Geiger Counter. Another leader in detector technology was Charles Garrett, who pioneered the BFO (Beat Frequency Oscillator) machine. With the invention and development of the transistor in the 50's and 60's, metal detector manufacturers and designers made smaller lighter machines with improved circuitry, running on small battery packs. Companies sprang up all over the USA and Britain to supply the growing demand.[2]

Larger portable metal detectors are used by archaeologists and treasure hunters to locate metallic items, such as jewelry, coins, bullets, and other various artifacts buried shallowly underground.[3]

1.3       METHODOLOGY

Metal detectors use one of three technologies:

• Very low frequency (VLF)
• Pulse induction (PI)
• Beat-frequency oscillation (BFO)

1. [4]

1.4                   VLF Technology

Very low frequency (VLF), also known as induction balance, is probably the most popular detector technology in use today. In a VLF metal detector, there are two distinct coils:

• Transmitter coil - This is the outer coil loop. Within it is a coil of wire. Electricity is sent along this wire, first in one direction and then in the other, thousands of times each second. The number of times that the current's direction switches each second establishes the frequency of the unit.
• Receiver coil - This inner coil loop contains another coil of wire. This wire acts as an antenna to pick up and amplify frequencies coming from target objects in the ground. [5]

The current moving through the transmitter coil creates an electromagnetic field, which is like what happens in an electric motor. The polarity of the magnetic field is perpendicular to the coil of wire. Each time the current changes direction, the polarity of the magnetic field changes. This means that if the coil of wire is parallel to the ground, the magnetic field is constantly pushing down into the ground and then pulling back out of it.

1.5                   PI Technology

A less common form of metal detector is based on pulse induction (PI). Unlike VLF, PI systems may use a single coil as both transmitter and receiver, or they may have two or even three coils working together. This technology sends powerful, short bursts (pulses) of current through a coil of wire. Each pulse generates a brief magnetic field. When the pulse ends, the magnetic field reverses polarity and collapses very suddenly, resulting in a sharp electrical spike. This spike lasts a few microseconds (millionths of a second) and causes another current to run through the coil. This current is called the reflected pulse and is extremely short, lasting only about 30 microseconds. Another pulse is then sent and the process repeats. A typical PI-based metal detector sends about 100 pulses per second, but the number can vary greatly based on the manufacturer and model, ranging from a couple of dozen pulses per second to over a thousand. Pulse Induction detectors are now widely used in the construction industry; the Whites PI-150 is an industrial machine which can detect large objects to 10 feet, using a 12 or 15 inch coil.

 2.0    MODULE ANALYSIS

• Dc power supply

This unit supplies the necessary d.c voltages for the circuit operation

• Reference coil oscillator

This oscillator contains the reference coil as the inductive element and set the frequency to which that from the oscillator two is referred to.

• Search coil oscillator

This is the second oscillator which contains the search coil as its inductive element. The inductance of the search coil changes when it locates a metal, which in turn changes the frequency of the oscillator. This frequency is compared with that from the oscillator one to produce a beat note.

• Mixer

The pulses produced by each oscillator are mixed in the mixer unit and the sum filtered to ground.

• Gain filter

The gain filter processes and amplifies the difference of the mixed pulses from the mixer and drives a piezo buzzer with it.

• Output transducer(load)

The output transducer converts the electrical signal into audible sound to give an audio indication of the presence of a metal.

2.1   OBJECTIVE

The aim of the project is to ease the trouble of trying to locate a useful metallic object in a particular or specified environment. As the trouble of straining the eyes is drastically reduced when the metal detector is used in the workshop where small metallic components could be easily misplaced. Also at security posts for searching people and their luggage.

P=I2R= IV= V2/R

All three equations are equivalent. The first is derived from Joule's law, and the other two are derived from that by Ohm's Law.

The total amount of heat energy released is the integral of the power over time:

W= ?v(t)i(t)dt.

If the average power dissipated exceeds the power rating of the resistor, the resistor may depart from its nominal resistance, and may be damaged by overheating. Excessive power dissipation may raise the temperature of the resistor to a point where it burns out, which could cause a fire in adjacent components and materials.

2.2   Series and parallel circuits

• Parallel circuit

Resistors in a parallel co nfiguration each have the same potential difference (voltage). To find their total equivalent resistance (Req):

1/Req = 1/R1 + 1/ R2….. +.. 1/ Rn

The parallel property can be represented in equations by two vertical lines "||" (as in geometry) to simplify equations. For two resistors,

Req = R1//R2= R1R2/(R1+R2)

• Series circuit

The current through resistors in series stays the same, but the voltage across each resistor can be different. The sum of the potential differences (voltage) is equal to the total voltage. To find their total resistance:

Req= R1 + R2 +…..+ R2

 

Parallel and series network

A resistor network that is a combination of parallel and series can sometimes be broken up into smaller parts that are either one or the other. For instance,

Req = (R1//R2) + R3= (R1R2)/(R1+R2)+R3

However, many resistor networks cannot be split up in this way. Consider a cube, each edge of which has been replaced by a resistor. For example, determining the resistance between two opposite vertices requires matrix methods for the general case. However, if all twelve resistors are equal, the corner-to-corner resistance is 5?6 of any one of them.

2.3                   Electric circuits

When a capacitor is connected to a current source, charge is transfered between its plates at a rate i(t) = dq(t) / dt. As the voltage between the plates is proportional to the charge, it follows that

V(t) = 1/c q(t) = 1/c?i(?)d ?

Conversely, if a capacitor is connected to a voltage source, the resulting displacement current is given by

I(t)Cdv(t)/dt

For example, if one were to connect a 1000 µF capacitor to a voltage source, then increase the sourced voltage at a rate of 2.5 Volts per second, the current flowing through the capacitor would be

I= Cdv/dt =(1000x10-6F)(2.5V/s)=2.5mA

Ø   DC sources

A circuit containing only a resistor, a capacitor, a switch and a constant (DC) voltage source vsrc(t) = V0 in series is known as a charging circuit. From Kirchhoff's voltage law it follows that

Vo=Vr(t) + Vc(t) = i(t)R I/C? i(?)d?

where vr(t) and vc(t) are the voltages across the resistor and capacitor respectively. This reduces to a first order differential equation

Assuming that the capacitor is initially uncharged, there is no internal electric field, and the initial current is I0 = V0 / R. This initial condition allows solution of the differential equation as

.i=Vo/Rexp(-t/RC)

The corresponding voltage drop across the capacitor is

v(t)=Vo[1-exp(-t/RC)]

Therefore, as charge increases on the capacitor plates, the voltage across the capacitor increases, until it reaches a steady-state value of V0, and the current drops to zero. Both the current, and the difference between the source and capacitor voltage decay exponentially with respect to time. The time constant of the decay is given by ? = RC.

2.4                   Series or parallel arrangements

• parallel circuits

Capacitors in a parallel configuration each have the same potential difference (voltage). Their total capacitance (Ceq) is given by:

Ceq =C1 +C2 + ……..+Cn

The reason for putting capacitors in parallel is to increase the total amount of charge stored. In other words, increasing the capacitance also increases the amount of energy that can be stored. Its expression is:

Estored = ½ CV2

• Series circuit

The current through capacitors in series stays the same, but the voltage across each capacitor can be different. The sum of the potential differences (voltage) is equal to the total voltage. Their total capacitance is given by:

1/ Ceq = 1/ C1 + 1/ C2+……..+ 1/ Cn

In parallel, the effective area of the combined capacitor has increased, increasing the overall capacitance. However, in series, the distance between the plates has effectively been increased, reducing the overall capacitance.

Ø      Noise filters, motor starters, and snubbers

When an inductive circuit is opened, the current through the inductance collapses quickly, creating a large voltage across the open circuit of the switch or relay. If the inductance is large enough, the energy will generate a spark, causing the contact points to oxidize, deteriorate, or sometimes weld together, or destroying a solid-state switch. A snubber capacitor across the newly opened circuit creates a path for this impulse to bypass the contact points, thereby preserving their life; these were commonly found in contact breaker ignition systems, for instance. Similarly, in smaller scale circuits, the spark may not be enough to damage the switch but will still radiate undesirable radio frequency interference (RFI), which a filter capacitor absorbs. Snubber capacitors are usually employed with a low-value resistor in series, to dissipate energy and minimize RFI. Such resistor-capacitor combinations are available in a single package.

Ø      Tuned circuits

In a tuned circuit such as a radio receiver, the frequency selected is a function of the inductance (L) and the capacitance (C) in series, and is given by:

.f = 1/2??LC

This is the frequency at which resonance occurs in an LC circuit.

2.5                  INDUCTOR

An inductor is a passive electrical component with significant inductance. Inductors are implemented by some sort of coiled conductive winding which may surround a ferromagnetic core. Large inductors used at low frequencies may have thousands of turns around an iron core; at very high frequencies a straight piece of wire (i.e., with turns and core reduced to zero) has significant inductance.

An "ideal inductor" has inductance, but no resistance or capacitance, and does not dissipate energy. A real inductor is equivalent to a combination of a significant ideal inductance, some resistance, and capacitance, usually small. The resistance, a necessary property of a wire except at superconducting temperatures, may contribute significantly to the impedance, and may dissipate significant power in some applications. At some frequency, usually much higher than the working voltage, a real inductor behaves as a resonant circuit, and can cause parasitic oscillation.

 

3.0                   INDUCTOR CIRCUIT ARRANGEMENT

·         parallel circuit

Inductors in a parallel configuration each have the same potential difference (voltage). To find their total equivalent inductance (Leq):

1/Leq=1/L1 + 1/L2 +……+ 1/Ln

series circuit

The current through inductors in series stays the same, but the voltage across each inductor can be different. The sum of the potential differences (voltage) is equal to the total voltage. To find their total inductance:

Leq = L1 + L2 + ….+Ln

 

These simple relationships hold true only when there is no mutual coupling of magnetic fields between individual inductors.

 

4.0        INTRODUCTION

This chapter deals with the design methods and the analysis employed in the design of the electronic metal detector system. These analyses are required to make the correct choice of component values for effective performance.

 

4.1     DESIGN SPECIFICATION

 Power source:
Any two 9v battery PP3 is ideal.

Capacitors:
2 off  220uF 16v electrolytic.
5 off  .01uF polyester.
5 off  .1uF polyester.

Resistors:
All resistors 1/4 watt 5%
6 off  10k
1 off  1K
1 off  2.2M
2 off  39k

Transistors:
All BC 337B. Just about any small signal NPN with a gain of 250+ will do. There are hundreds to choose from.

Audio output:
A 2.5 inch 8 ohm speaker will work but headphones, buzzer or earpiece are preferable, the higher the impedance the better.

4.2                   Power supply Circuit

The main power supply to the circuit is from two 9v batteries connected in series to produce 18v and then regulated and maintained at 12v by using a 7812 voltage regulator.

 power supply circuit

The input to the 7812 regulator is calculated thus

Series connection of batteries is given by pt = p1 + p2 + p3 +…

Therefore the power input to the regulator is pt = p1 + p2

pt = 9+9 =18v

3.1.2                Oscillator Circuit

The oscillator circuit are made up of two different oscillators which are the sensor oscillator and the local or reference oscillator. Their frequencies of oscillation are set at 124khz since they are to operate at the same frequency. The two oscillator circuits are series LC circuit comprising of a BC 337 NPN transistors each for effective oscillation.

• The sensor oscillator

To calculate the inductance of the inductor the resonance frequency formula is used

F = ( 2? (LC)1/2 )-1

Where F = frequency in Hertz which is set at 124khz

           L = inductance of the inductor

            C = capacitance of the capacitor

L = 1/ ( 4?2CF2 )

L = 1/ ( 4 x (3.142)2 x0.1x10-6 x (124 x 103 )2 )

L = 16.47µH

Then to calculate the number of turns, Wheeler’s formula for coils is applied

L = N2 r2/ 9r + 10l

Where N = number of turns

r = outer radius of coil (inches)

l = physical length of coil (inches)

L = 16.47outer radius of coil (inches)

l = physical length of coil (inches)

L = 16.47µH

r = C/ 2?    where C = circumference of the coil former

r= 3.6cm/2 ? =0.57cm

Converting to inches we have

2.54cm – 1inch

0.57cm -  ?

0.57 / 2.54 =  0.23inches

L = 2.36 inches

N2 =L( 9r + 10l) / r2

     = 16.47( 9x0.23 + 10x2.36 ) / 0.232

N2 = 89 Turns

Applying the resonant frequency formula to calculate the inductance here we have:

L = 1/ ( 4?2CF2 )

Where F = 124khz , C =  0.1µF

L = 1/ ( 4 x (3.142)2 x0.1x10-6 x (124 x 103 )2 )

L = 16.47µH

Then using the Wheeler’s formula to find the number of turns

L = N2 r2/ 9r + 10l

 Where r = C/ 2?  = 52 / 2?

8.27cm == 3.26inches

L = 0.6 cm == 0.24inches

N2 =L( 9r + 10l) / r2

N2 =  16.47 ( 9x3.26 + 10x0.24 ) / 3.262

N = 7 Turns

4.3                   Amplifier Circuit

A common emitter (CE) transistor amplifier was used because of its characteristics which include:

• Its output resistance is moderately large (50k or so)
• Its current gain (?) is high (50 – 300)
• It has high voltage gain of the order 1500 and above
• It produces very high power gain of the order of 10,000 times or 40db.

The transistor used is a BC337 NPN transistor.

In a proper design the amplifier circuit operates normally when

VCE = ½ VCC

Also for a CE configuration

VCE = VCC – ICRL

hfe = IC / IB

Where VCE = collector emitter voltage

hfe = absolute minimum gain for the selected transistor which is 100

            IC = collector current

            IB = base current

Therefore RL = (VCC – VCE) / IC

The Voltage gain is given by

AV = ro / re

Where ro = output resistance of the stage

            re = emitter junction resistance

                  25Mv / IE.

4.4                   Beat Frequency Oscillator Technology

The circuit employs two radio frequency oscillators called the search and the reference oscillators and is tuned at the same frequency. the  output of the oscillator is fed into a mixer, which produce a signal that contains the sum and difference frequency components of the two input signals.

1.         The output from the mixer is fed into a low-pass(gain) filter where the harmonic is removed leaving the difference frequency component to subsist, though at theoretically 0Hz , as a result the output will have no difference. However, when metal is brought into the vicinity of the search coil, the frequency of search oscillators shifts slightly, then a there is a frequency difference, which is within the audio frequency range, appears at the output of the filter. This output is amplified by an audio amplifiers and fed to a loud speaker which produces sound output thus indicating the presence of metal        

 

5.0                   TESTING AND ANALYSIS

The following test was performed on the project circuit to ascertain the condition of the different stage and the project as a whole:

Short Circuit Test

The connections were checked with a multimeter set in continuity to ensure no short circuit occurs. The test was done and no short circuit was found.

Open Circuit Test

The various connections were checked for open circuit and none was found using multi meter.

Functional Test

 The different voltage value and current value were measured at each stages and all were found in confirmation with the design specifications.

Insulation Test

Insulator test was carried out in all units of the circuit especially those units that require         adequate insulation. Example, coil used in the oscillators.

SYSTEM  PERFORMANCE AND TEST RESULT

The  metal detector was used to test for various sizes of metal at various distance  from the search coil and the following result were obtained.

(i)     The lager the metal, the louder the sound output from the loud speaker and  smaller the metal , the lower the sound output from the loud speaker – though this also dependent on the size of the search coil.

(ii)   The closer the distance  between the search head and  the metal, the greater the sound output from  the loud speaker  and the farther the distance the fainter the sound output from the loud speaker, to extent the sound die off at some critical distance where theoretically the magnetic field due to the search head is zero.

6.0                   CONCLUSION

The beat frequency oscillator (BFO) principle is one of the reliable simple and cast effective principles of building a metal detector .though some price are paid for these seemingly advantages and they includes.

(i)     Low sensitivity

(ii)   Short range of detection. Though depended on the size of search coil.

(iii) Not be able to discriminate metals

All these is nothing at all,It is interesting to know that the design and construction of metal detector is a success. This is because the project when tested produced the desired effect. In particular, this research work had made the principle of electromagnetic induction very clear to me as well as to any average literate person around me. In general, with the invention of metal detectors, the stress of one indulging in locating metallic components in a workshop has been reduced drastically. Also the embarrassment banks and other establishment cause their customers has been solved as some of the metal detectors are mounted on door entrances so as to trigger up an alarm when a metal is detected on s person trying to enter.

 

                        REFERENCES

 

1          Edeko, F.O, “Electronics circuit design material”  2008

2          A textbook of electrical technology by B.L. Theraja and A.K. Theraja, S. Chard and company, 2005.

3          Study of electronic components by J.A. Smith (2nd edition) , 1999

4          Electronic circuit analysis and design by Donald A. Neumann, Mc Grawhill Book Company, USA 1996.

5          Amplifiers comparators and special functions, Texas instrument, Data book volume B, Custom Printing Company’s,1997.

About the Author

James Agajo is into a P.H.D programme in digital signal processing related area, he has a Master Degree in Electronics and telecommunication Engineering and also possesses a Bachelor degree in Electronics and Computer Engineering from the Federal University of Technology Minna Nigeria. To he's record he has carried out researches in various areas as it concern telecommunication with particular emphasis on wirless communication network. His interest is in intelligent system development with a high flare for Engineering and Scientific research.He has Designed and implemented the most resent computer controlled robotic arm with a working grip mechanism 2006 which was aired on a national television , he has carried out work on using blue tooth technology to communicate with microcontroller. Has also worked on thumb print technology to develop high tech security systems with many more He is presently on secondment with UNESCO TVE as a supervisor and a resource person. James is presently registered with the Nigeria Society of Engineers.

Nas - America + Lyrics

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Employment Law and Equal Pay Act

The Industrial Revolution has brought radical changes in the working place. This historical phenomenon swept much of the world, especially Europe where it started and the Americas. One radical change it brought to the working place is the deterioration of working conditions as the number of workers or employees rose meteorically. In this regard, the government would need to pass laws protecting the rights of workers. These protective laws paved the way for the creation of modern employment law in the United States.

What is Employment Law?

The Employment Law protects employees or workers from any kind of mistreatment on the workplace. The poor working conditions that resulted from Industrial Revolution led to the creation of laws establishing fair wages, limiting the number of working hours in a week and prohibiting child labor. Other labor related laws also include laws regulating the cleanliness of the workplace, protection of employees from any kind of hazardous accidents.

Employment Laws have been passed standardizing the provision of benefits by the employers for the employees. Employment Law includes health insurance that benefits workers if medical problems arise due to poor work condition or unsanitary workplace. In addition, Employment Law also covers protection against discrimination in the workplace based on religion, race, gender and other factors.

Let us focus more on employment discrimination laws that protect employees from discrimination in the workplace. The US Equal Employment Opportunity Commission (EEOC) enforces several employment discrimination laws that protect employees from compensation discrimination. One of these laws is the Equal Pay Act of 1963. The passage of this law is milestone in labor history as it ensures that there shall be no wage discrimination based on sex in the workplace.

The Equal Pay Act

As stated above, this law requires that no wage discrimination shall take place based on gender. This law requires that men and women be given equal wage for the same work rendered in the same workplace. The jobs need not to be the same, but they must be essentially equal.

Further, the EPA states that it is not the job titles that matter in determining whether jobs are substantially equal but the job content. Men and women alike are protected by EPA as it prohibits unequal wages to both genders that perform a job that requires substantially equal amount of work, skill and responsibility in the same workplace and same working conditions. Pay differentials are only allowed when they are based on merit, seniority, quantity or quality of production or other factors than gender.

Employees expect that their employers will adhere to the Employment Laws discussed above. Moreover, basic standards of fairness in terms of employment decisions shall be observed in the workplace, like equal page for equal job for both sexes. Sometimes, however, these labor laws are not adhered to by employers. If you are a victim of unfair labor practice, do not hesitate to fight for your rights. An experienced civil rights lawyer or employment lawyer might help you build a strong case against your abusive employer.

About the Author

Charlie Prenicolas is a legal researcher who writes informative articles on Illinois civil rights, medical malpractice, and personal injury cases. For more information on reputable civil rights lawyers in and around Chicago, kindly visit Dolan Law Offices today.

Legal job market tightens

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What Law School Should my Brother Go to?

My brother is what i call REALLY SMART. He went to Howard University, where he just graduated summa cum laud (3.92 GPA) after 3.5 years. He received his B.A. degree in Political Science (in a Pre-Law track) and a minor in Sociology.
He just got back his LSAT scores, where he scored a 165 out of 180. I'm trying (and the rest of my family) to convince him to apply to Harvard or Yale Law School. Do you think he can get into either? So far he has only applied to Georgetown, University of Chicago, and Stanford. And if this helps, im sure he said something about going into labor/employment law.

if he likes the programs at harvard or yale, have him apply there.
even if he thinks he can't make it in
also, it's not all about smartness
he needs a high gpa, extracarriculars, and yeah high lsa t(which he apparently has)
but i mean
it really depends on him
georgetown, uni of chicaog, and stanford are -really- good
harvard and yale aren't for -everyone-
i mean there's cornell, brown, etc.
if he's looking to be at the site of politics
have him apply at american university - right in the heart of d.c. he could prob get a ton ton tonnn of experience working with politicians, lawyers, etc there

but overall, he prob knows where he wants to go
and how many interviews he's willing to do
keep in mind he'll prob have to fly to all these places to get his interviews done

Barry A Gomberg & Associates Ltd. - Chicago, IL

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Easy Ways to Find Best Trainee Solicitor Jobs

In the United Kingdom, Australia and Hong Kong and definite other general law jurisdictions, a trainee solicitor go through two years' training to meet the criteria into the lawful line of work as a solicitor. They commence a training contract for at least two years with a law firm accredited to afford the training. Before they can be qualified to embark on such a training contract, the person must have a degree in law or have an additional degree and have finished an alteration course and then have concluded a Legal Practice Course. On successful achievement of the training contract, the person mainly will meet the requirements, and be acknowledged, as a solicitor.

A trainee solicitor is an apprentice in a professional firm in Commonwealth countries. Normally the period occurs in the accountancy profession and in the legal profession. The trainee solicitor signs a contract, known as "articles of clerkship", commending to a fixed period of employment. The further section to the contract, the main, takes upon through this phase to give training and associated knowledge in the practice. Observe that the contract is with a precise associate in the firm and not the firm as a whole. Today some professions in some countries prefer to call their apprentices students or trainees and training contracts.

When dealing with the pressures of a trainee solicitor job search, it possibly gives the impression akin to cannot bargain the most crucial role of the plan - the top job listings. Usually, job listings were focused in the local tabloid, but with the introduction of the Internet, employers are listing jobs in an integer of additional locations. Job listings now appear online at tabloid websites, niche websites and sites dedicated solely to listing jobs.

To get the most excellent trainee solicitor job listings, you must do a slight study and contemplate what your career interests are. Trainee solicitor job listings also appear on websites. Tabloid sites will also let you to look for trainee solicitor jobs in your local area. The benefit of searching at a newspaper online is that you be able to seek for jobs more than your area, which can tender you an opportunity on the competition.

Specific websites devoted completely to trainee solicitor job listings that are a enormous option for public apprehension in a job search. Submitting a CV is an option to probing continuously for trainee solicitor jobs. The employers in fact get in touch the job seekers they are aware of determination successfully fill the position.

You might come across a much better choice of trainee solicitor jobs that fit your criteria with just a few tweaks in your search. Considering that there are many ways to get approach to trainee solicitor jobs that will enclose your next employment opportunity.

Various recommend extensive range training studies to publish with all aspects of plaintiff law. It will give confidence for active contribution, and involvement, allowing you to be satisfied with outstanding training opportunities, actual professional growth, and impart you with a real sense of achievement. To advance expand your array of legal skills, and construct your self-assurance, and will be given hands-on experience, which normally consists of a managed file load for you to work on.


About the Author

Looking for training contracts? Discover valuable information that will help you find the best trainee solicitor jobs.

Hong Kong Filipino Maid Agency ALLOT Employment Service ::: 雅樂僱傭中心菲傭: JF30611

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By law, to what extent may new employers contact your previous ones?

This is just a question about employment. Say my resume says that I did a certain job at my previous company and I give the new prospective employer permission to contact my previous employers. What information may they obtain legally without any breach? I have heard mixed answers on this, I have also heard that the only thing they can say is that they may confirm you were once an employee, nothing more.

The weight of the law lies with your previous employer. They are only allowed to verify that you worked there, when you worked there and if they would hire you again. That's it.

Your new employer may be able to read between the lines depending on how the question get answered. Try referring your potential employer to human resources and not your old boss if you left under questionable circumstances. They are likely to give a neutral answer according to their guidelines.

Employment Guide http://www.myemploymentzone.net/

Employment Notice period Help - UK please?

Hi there,

I've been in my current role since May 11th 2009, The contract I've signed has no notice period on it whatsoever, I never questioned this when I started. I'm paid a salary monthly.
I've given them my notice today, but I'm unsure as to what my notice period by law is? If I'm paid monthly, then shouldnt it be a months notice? The employer is claiming that because there is no notice/nothing mentioned on my contact that there is no notice period.

Can someone please clarify what's the situation.

Thanks

Your employer is wrong. If you have worked for your employer for more than one month, the legal minimum notice period you must give is one week.

Your employer must give you the minimum statutory notice period which if you have worked for them for between one month and two years is one week.

If you want to give more notice, that's fine but you are not legally obliged to.

If what you are saying is that they want you to leave immediately because there is no notice period in your contract, then they must pay you one weeks pay in lieu of notice. Just because it is omitted from your contract does not allow them to avoid statutory requirements.

Contact ACAS if you have any trouble. 08457 474 747
http://www.direct.gov.uk/en/Dl1/Directories/DG_10010857

Fred Chimp's guide to getting a job

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Background Check Texas

As with any state, if you intend carrying out a background check Texas has its own state laws on what is required. Most of these, however, refer to when checks must be carried out, such as the requirement of the University of Texas Health Science Center that all new students should be subject to a criminal background screening before being admitted.

Texas is also very strong on screening of day care employees, and rightly so. The costs of bad or negligent hiring can be very high for a local authority as it can be for a private company. In fact a serious negligent hiring lawsuit can destroy a small company, which is why background screening is so important these days. By carrying out the task properly you can reduce hiring problems within your company, and reduce risks to your staff and your company.

In Texas, as in most other states, the candidates themselves have certain rights. You must notify any potential employee of the fact that they will be subject to such employment screening checks, and must also respect the rights to privacy of the potential employees. Additional to that, if you intend having the background checks carried out by a third party, then in Texas, as anywhere else in the USA, you are obliged to receive signed permission from the person involved before you can do so. This is not necessary if you carry out the checks yourself, either personally or through another employee within your company.

Employment background checks are essential since many applicants falsify the information provided in their application forms, and what you decide to verify will depend to an extent on the type of work to be done. Your main obligation is to make sure that the prospective employee is qualified to work in the USA, but you have to make sure that he or she does not have a propensity to inflict violence on others. You will have other checks to carry out depending on the job on offer.

The criminal background check is necessary as protection for your existing employees, and if you fail to do this and an employee is assaulted, then you will be found negligent. You are responsible even if your employee is working out of the plant. Just a short while ago the Texas Supreme Court found cleaner company Kirby negligent for failing to carry out an adequate screening of an independent contractor who raped a woman in her home while demonstrating a vacuum cleaner. It cost them $160,000. Could your business afford this?

If you are employing an accountant you will likely want to carry out an additional credit check, and other common background checks Texas employers carry out are employment history, to find if there are any gaps that have not been volunteered in the résumé, and history of residence. Some people claim to have been living out of state to cover up periods in penal institutions. You could also check out court records, though this is not easy to do out of state without actually traveling to the court. Without that, it can sometimes be difficult to thoroughly check out someone’s criminal records since there is no national criminal database that can be accessed by embers of the public.

Even Texas state records are only as good as those counties that send details in. Frequently it is only by checking out court records that you can find out if anybody has actually been in prison or not. Some courts have electronic systems available for carrying out such searches, but with others you have to thumb through the paper records to find what you are looking for. Some courts will post the results to you while others insist on you picking them up personally.

In such cases it is generally more convenient to employ professionals to do the job. The professionals know all the legal obligations that have to be observed, both from your point of view and from that of the subject. Small businesses, however, often cannot afford to hire a professional investigator to carry out the screening and will have to do it themselves.

You are not expected to investigate every possible aspect of a job applicant’s life history, but you are expected to carry out the basic background checks that would throw up facts about their criminal history, or whether or not they have lied about their past work experience or even residential history. If you are employing someone in a day care or child care center then you have a legal obligation to do so. Texas law demands it.

If an incident occurs, and you are unable to demonstrate that you had carried out reasonable pre-employment screening or the proper background checks Texas employers are expected to carry out, then you are likely to be found liable for the results of negligent hiring. The penalties are commensurate with the crime carried out by the employee, but can include fines of many hundreds of thousands of dollars.

About the Author

Advanced Research http://www.arsbackgrounds.com is made up of a team of experts in HR, Risk Management and Legal Investigations. We provide a free consultation to assist you in mitigating your potential hiring risks.

Managing Employees During Economic Recovery (1 of 5)

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Marketing your Law Firm – 5 Secrets to Building your Online Presence

How important is your firm’s client base? If this question seems like a no-brainer, it’s because it is. Fostering a steadily growing client base is a vital ingredient for any successful law firm. Growth equals profits. Yet despite this, legal marketing is often perceived within the industry as the proverbial ugly step child.

The reasons are obvious. Marketing takes lawyers out of their comfort zone. Good lawyers do not necessarily make good marketers. And time spent on a marketing campaign that bombs is time wasted! Imagine how much case work could have been completed in that time…

While these issues may be valid, the fact is that your firm isn’t going to grow on its own. So you can either accept legal marketing as a necessary evil, or watch your profits flatline.

For those brave enough to embrace it, welcome aboard. Marketing your firm won’t be easy, but it’s also not as difficult as you might think. Many of the road blocks inherent to legal marketing are being broken down, particularly with technological advancements in the online arena.

So open your mind as we explore the road blocks most firms encounter, and discuss the new technologies that are helping to break them down.

Road block 1 - Resource limitations

Lawyers work hard! A work conditions report conducted in 2003 found that your typical lawyer works around 48 hours a week. To compound this fact, almost 90% of Australian law firms employ less than 5 lawyers. The end result…? Resource shortage and time depravation!

Many firms would argue that they just don’t have the time, nor the manpower to implement effective marketing activities. Yes… common business development tactics such as attending & contributing to seminars, brochure development and mail out campaigns are resource heavy. But you have options. It’s time to take your thinking beyond the ‘old school’.

Solution

Modern marketing techniques can be light on both your time and resources. In fact, a number of online opportunities allow you to adopt a ‘set & forget’ approach to marketing.

Search engine optimisation (SEO) is an example. SEO is the practice of improving your web sites ranking within the search engine results in order to drive more traffic to your firm’s site. The effect of good SEO is dramatic. Data released by AOL revealed that the site attaining top spot in the search results draws almost half of the traffic for that search term. Second spot draws less than 15%!

A number of factors affect your sites ability to rank well within the search engines, including:

1. The quality of your content

2. The number of external sites that link to you

3. Your page titles

4. The age of your site

5. The frequency of content updates

6. The cleanliness of web site design and coding… and more

In fact, Google claims to use up to 200 different factors to measure a sites quality. Consequently, SEO isn’t a task you can take on yourself. You’ll need the help of a specialist, of which there are plenty! A Google search on SEO will reveal a wide range of agencies and consultants providing the expertise you need.

The real beauty of SEO is that once your site is optimised for the search engines, you can essentially sit back and watch the traffic come to you. And while semi regular site tweaks may be necessary (the search engines constantly update their site ranking factors to avoid abuse), the majority of the hard work will be done at the outset. And best of all… the traffic you receive via the search engines comes free of charge!!

To extend your marketing reach beyond the search engines and into the web stratosphere you could try Google Adsense or affiliate marketing (with providers like Commission Junction). Both allow you to hook into established web networks and place ads for your firm on thousands of web pages, while dealing with just the one provider. This form of advertising will give your firm good exposure, but the traffic is a little less qualified than from search engine marketing (as they are not specifically looking for legal aid).

Online directories are another alternative for low maintenance marketing. Whether it’s generic directories, or specialist legal directories such as Lawyer Centric, directory marketing can ensure a steady flow of client leads. For what it’s worth, specialised legal directories tend to be cheaper and are more likely to draw truly qualified client leads (as they target a very specific audience).

Road block 2 - Lack of marketing expertise

Lawyers are trained & hired to practice the law. You probably spent 4+ years studying it at university. But what your law degree didn’t teach you was how to market you firm and build your client base. And if you’re anything like your American counterparts (God forbid!) you’re not happy about it.

A recent survey by Buy Laws found that 91% of American lawyers are unhappy with the lack of marketing training at law schools. The study also found that 37% of respondents only just manage to generate enough business to stay alive, and 41% either don’t get good marketing results or don’t bother at all due to lack of knowledge.

Solution

While it is true that you probably haven’t received the training needed to be considered a marketing guru, it doesn’t mean good help isn’t out there. And better yet, it’s free! If you’re truly interested in improving your marketing skills there are a plethora of marketing sites that offer free expert advice in the form of articles & regular newsletters. The following sites are some of the best marketing resources providing free expert commentary:

General Marketing

1. Marketing Profs

2. Marketing Today

Online Marketing

1. Marketing Sherpa

2. Clickz

If you’re genuine about enhancing your marketing skills, the information is out there. All you need to do is go and get it.

Road block 3 – Networking is hard!

Building relationships and a solid network of professional acquaintances is critical to your ability to increase your client base. After all, it’s not what you know, but who you know right? That’s probably why you go to all those industry conferences & luncheons. But do you really get full value from those conferences? How many meaningful new business relationships do you take away from each one?

Many people believe that when it comes to ‘working the room’ you’ve either got the gift or you don’t. But what if you don’t? How can you add value to your firm and build meaningful business relationships?

Solution

You’ve probably heard of MySpace and Facebook before. They’re social networks that give people an online platform to connect with their current friends and meet new people. But have you heard of LinkedIn? It follows a similar premise, except that it is targeted towards business professionals.

At the most basic level you can use the service to store your personal business connections. But the real value comes in the networking capabilities. Members can extend their personal network by accessing second degree connections (the network pool of each of their personal contacts) and third degree connections (the network pool of each second degree connection).

The existence of a mutual contact essentially gives you a virtual ‘foot in the door’. And furthermore, it can be done on your own time. For those without the ‘gift of the gab’, this may be your ideal networking solution.

Road block 4 - Limitations of traditional marketing techniques

Marketing a law firm presents unique challenges. Legal choices are heavily considered decisions. New clients want detailed information in order to achieve a level of confidence that your firm has the necessary expertise to manage their case effectively. Questions from new clients will typically include:

1. What areas of law does your firm specialise in?

2. What experience do you have managing similar cases?

3. Who are your current clients and what would they say about your firm?

In order to address these questions, you need the opportunity to speak to clients in a detailed & specific manner. But how can that be achieved? Unless you have the budget to develop a comprehensive firm brochure, or buy a full page print ad, your marketing messages are likely to lack the detail to convert prospects into clients. Standard print ads, directory ads, radio ads, online banner ads (and others) all place restrictions on your ability to communicate with clients in any manner of detail.

Solution

Your web site need not be your only rich source of information. You have options. More and more online platforms are emerging that provide you with the opportunity to publish detailed information. Blogs are perhaps the most common. Blogs are free to set up from providers like Blogger and provide a basic web site framework for you to work with. The key advantage of blogs is that they allow content to be updated quickly and easily (unlike web sites which require technical expertise to update).

While most blogs are non commercial in nature, many ‘bloggers’ have realised that they can use the medium to position themselves as experts in a particular industry. The field of law is no exception. Blogs are a natural communication tool for law firms as they allow easy publication of articles, case studies and commentary of legal issues. A small number of Australian lawyers and law firms have embraced blogs, yet the potential remains largely untapped in the legal industry.

Online directories present another marketing opportunity for savvy law firms. And no we’re not talking about the Yellow Pages. The ‘one size fits all’ model applied by multi-industry directories typically limits the type & quantity of content advertisers can publish. We are in fact talking about niche directories that are tailor made for a specific industry.

Lawyer Centric is an example. It is a directory designed by lawyers specifically for the legal industry, and offers a number of promotional services for firms, including:

1. An advertisement in the legal directory.

2. The ability to receive client emails directly to a nominated email address.

3. The ability to create a customised web page to promote your firm’s practice areas, technical knowledge, articles & client testimonials.

4. Unlimited access to publish articles to a legal article database.

5. Unlimited access to post vacancies on the legal job boards.

Members are able to choose between free & paid membership.

Road block 5 - Cost

In all honesty, our last road block is probably the first that sprung to your mind. Money! Traditional forms of advertising/marketing are far from cheap. Whether it’s newspaper, radio, Yellow Pages or online ads, the cumulative cost of advertising can be in the thousands each year (if not tens of thousands). That’s a lot of money!

Naturally, you want the best return on investment for your firm. And that’s probably the best part about each solution we’ve proposed so far. They’re all cheap! Let’s revisit each solution one last time to review what implementation will cost you:

1. SEO consultancy can be pricey, but is an excellent long term marketing investment. Remember, after the initial cost of optimising your site all traffic you receive is free. Google Adsense & affiliate marketing operate on a pay per click basis. You’ll only pay each time someone clicks through to your web site. Most clicks will cost you less than a dollar!

2. Each marketing newsletter is delivered to you free of charge. You just need to find the time to read them.

3. LinkedIn is a free networking service.

4. Blogs are free to set up and maintain. Of course, your cost is the time it takes to generate regular content. But if you are already writing articles and case analyses…

5. Lawyer Centric offers both free & paid membership. The cost of a paid membership is just $250 annually.

And now, it is over to you. The seeds have been sown. The question is whether you choose to embrace them or not.

Newer technology means that legal marketing no longer needs to be the ugly step child of the legal industry. In fact, with a little research and some smart implementation, you could create a Cinderella story of your very own.

About the Author

Article Contributed by James Duthie. James works as the Marketing Manager for Lawyer Centric, Australia’s premium law firm directory

Free Advertising Forum

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More Small Business Health Insurance Basics In Texas

Because premiums, deductibles, copayments, and coinsurance levels for small business group health insurance policies in Texas can vary widely from plan to plan, it pays to shop around.


Have a good understanding of your employees' healthcare needs before you start shopping. Do they require frequent medical care or do they rarely see the doctor? Are they more concerned about preventive checkups or coverage in case of emergency? Are prescription or maternity benefits important to them? This is an essential first step. You want to purchase a plan that offers the medical benefits your employees need, without a bunch of "extras" your employees won't take advantage of. You'll pay for these "extras" in the form of higher premiums.


When shopping for coverage, the Texas Department of Insurance recommends keeping these guidelines in mind:


- Be sure you understand the full extent of each plan's coverage when comparing plans and rates. If you decide to go with a consumer choice health benefit plan over one with all the state-mandated benefits, the carrier or agent is required to explain in writing which coverages you don't have.


- Plans with higher deductibles, copayments, and employee share of coinsurance generally will have lower premiums. Keep in mind, however, that your employees will also have to pay more out of pocket when they access services or benefits.


- Consider factors other than cost, such as a company's financial strength and complaint record. These are indicators of the service you can expect. You can learn a company's financial rating, as determined by an independent rating organization, by calling the Texas Department of Insurance (TDI) Consumer Help Line. You can also learn information about the frequency of consumer complaints filed against specific companies by calling the Consumer Help Line: 1-800-252-3439/463-5515 in Austin.


- Look into purchasing cooperatives. These are groups of small employers with similar health care needs who join together to negotiate discounted rates for shared plans. For a list of registered purchasing cooperatives in Texas, call the Consumer Help Line.


- Buy only from licensed insurance companies. Selling unlicensed coverage is illegal in Texas. If you buy from an unlicensed carrier, your employees' claims could go unpaid and you could be held liable for the full amount of your employees' claims and losses. Guaranty associations pay the claims of licensed carriers that become insolvent. You can learn whether a company is licensed by calling the Consumer Help Line.


- Understand that employee health coverage is different from workers' compensation insurance, which covers only job-related injuries and illnesses. Although workers' compensation insurance is not required in Texas, it protects you from high damage awards in the case of workplace accidents. Providing regular health coverage to your employees is not a legal alternative to providing workers' compensation insurance.


Who Pays and How Much?


The law doesn't require employers to contribute toward health benefit plan premiums. However, many carriers require employers to pay at least 50 percent of the plan's premiums. Employers may choose to pay a higher percentage than the carrier requires.


The carrier must offer dependent coverage to all eligible employees. Generally, employers are not required to contribute toward the cost of dependent coverage. If the employer doesn't contribute, employees may have to pay all of these costs themselves.


Premiums may increase at each renewal term, largely due to rising health care costs and possibly as a result of employee claims experience. Texas law caps small-employer rate increases due to health factors at 15 percent per year.


Insurers cannot require businesses to purchase additional lines of insurance, such as life insurance or disability insurance, as a condition of the sale of a health plan.


Employee Signup and Waiting Period


New employees must be given at least 31 days from their start date to enroll in a plan. After this time, they may be required to wait up to one year for the next "open enrollment period" to join. Carriers must offer a 31-day open enrollment period annually.


You can choose to require your employees who enroll in a plan to wait up to 90 days before being eligible for benefits. During this period, the carrier may not charge you or the employee a premium.


Carriers may require participants to wait a certain amount of time before covering pre-existing medical conditions. In general, plans have different rules for pre-existing conditions. Plans using the open-enrollment requirement cannot make new members wait more than one year before covering their pre-existing conditions.


New enrollees who were covered in the year prior to joining a plan also receive credit toward the waiting period on a month-for-month basis. For example, an employee who was covered under creditable coverage for the entire year before joining a new plan would receive 12 months credit toward a one-year pre-existing condition wait -- and would therefore experience no wait at all. For previous coverage to be considered creditable, there may not have been more than a 63-day break between the end of the previous coverage and the start of the new coverage.


A small business employer carrier cannot refuse to provide health coverage for employees on the grounds of employee illnesses or pre-existing conditions. Nor may carriers use health-related factors -- such as employees' prior claims experience or information on conditions arising from violent family situations -- to decide whether to provide coverage.


How Small Employer Plan Premiums are Calculated


The rates for any given small employer plan are not solely determined by the benefits and deductibles of the plan itself. Certain objective "case characteristics," along with any health status-related factors of employees, may also be components in determining the premium rate for the small employer group. Case characteristics consist of age, gender, group size, industry, and geography. Carriers can use some or all of these five objective criteria:


- Age of employees: Older people can reasonably be expected to have more expensive and more frequent health-related claims. Generally, the older your workforce, the more your plan will cost.


- Gender: Females generally incur higher medical costs than males at younger ages, particularly during childbearing years. The variance diminishes with age until medical costs for males begin to exceed those for females as they near ages 50 and 60. If you have a younger, proportionately more female workforce, or one that is older and proportionately more male, expect to pay higher premiums.


- Number of plan participants: Carriers often base rates on group size for two reasons. As size increases, administrative costs per insured decrease. Also, smaller groups tend to buy health coverage based on the targeted needs of participants, increasing the likelihood of claims for the benefits provided. As group size increases, this "custom-tailoring" becomes more difficult and premiums tend to decrease. However, the highest group size factor may not exceed the lowest group size factor by more than 20 percent.


- Industry: Some industries have higher medical claims costs than others because of working conditions and the prevalence of accidents. High employee turnover in some industries can also result in higher administrative costs for the carrier. However, the highest industry factor a carrier charges may not exceed the lowest factor by more than 15 percent.


- Geographic area: Health care costs vary by region due to differences in cost of living and medical practices, as well as the amount of medical competition in the area. Most plans vary rates by either county or ZIP code, using the employer's business address to set rates.


The rating process for a small-employer group can be described as a two-step process. First, a carrier determines a premium rate based on case characteristics and plan design, without regard to health status-related factors. This produces the baseline price of the policy. Second, the carrier may adjust the rate to reflect health status-related factors of the group. This adjustment must apply uniformly to all members of the group and may not exceed 67 percent of the baseline price of the policy.


Group health insurance can be not affordable for many small businesses, not to mention an administrative headache. Another alternative to group health insurance plans is to offer individual health insurance options to your employees. By law, an employer is not allowed to contribute to these plans, or that would be treated as group insurance under Texas state law. But you can still help your employees become insured in a good plan and improve their health and well-being and also improve employee retention in the process. If you're a small business owner who would like to offer affordable health insurance plans to your employees, but can't afford group health insurance, you should consider offering your employees the revolutionary, comprehensive individual health insurance solutions created by companies specifically for young, healthy individuals.

About the Author

Pat Carpenter writes for Precedent Insurance Company. Precedent puts a new spin on health insurance. Learn more at Precedent.com

Texas Governor 2010 - No law requires you to pay tax 2 of 2

Teen unemployment high, but there's hope for summer jobs
Teens and young adults work during school year, apply early to line up summer jobs South Florida teens and young adults are getting a jump on jobs this summer by working during the school year or lining up internships for the summer. With high unemployment in South Florida, that's a smart strategy.
Summer Internships Orientation Guide

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Was I Wrongly Terminated From My Job?

I was a manager in fast food establishment. I was scheduled 1- 16 year old and 2- non English speaking employees. The 16 year old was scheduled for 5 hours so I had to give him a break. Which left me alone to run all the service both through the drive thru and front counter. I stopped using the 1st window and only the 2nd window. I was told a few weeks prior that they wished for both windows to be open at all times. Yet, I had the choice of closing a window for a break or breaking child labor laws. I sent him on break and literally 5 minutes later the phone was ringing with my GM telling me to not give the minor a break and open the window. I complied and did as was told. Three days later, my employment was terminated. Is this a case of Wrongful Termination?

wrongful termination?
NO
will you qualify for unemployment insurance?
possibly, if all the facts are accurate then it may be determined that they didn't have cause to terminate you and therefor you may qualify (assuming you meet the other criteria).

you need to contact the owner (franchise or corporate) and explain what happened and why you made the decisions you made.
the question will be why were you in this situation?
did you let someone off early, was the shift originally scheduled this way?
did the GM know you did not have the appropriate staff?
what is the labor law, does it require minors have a break after 5 hours or sooner?
did the law actually require this employee to be given a break?
perhaps after working through these issues they will give you a second chance and UI won't become an issue for you.

unless you have a contract you are employed "at-will" which means you can quit or be terminated at any time for any reason (except discrimination, retaliation or taking part in a protected activity) or no reason at all.
there is no such thing as "wrongful termination" unless a protected reason for the firing can be proven or a contract was breached.

Labor Law, Employment Law in Oklahoma City OK 73102

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what does this mean look below?

Citizenship
The City of Los Angeles requires that a Police Officer candidate be a United States citizen, or that a non-citizen be a permanent resident alien who, in accordance with the requirements of the U.S. Citizenship and Immigration Services (USCIS), is eligible and has applied for citizenship.

During the selection process, each non-citizen is required to prove that USCIS accepted his/her application for citizenship prior to the date the Police Officer written test was taken.

California State law requires that citizenship be granted within three years after the employment application date. For information regarding citizenship requirements, contact the USCIS.

In order for you to be eligible to be a police officer, you need to have been a permanent resident (green card holder) for at least 5 years (at 5 years, you are eligible to apply for citizenship).

After you apply for citizenship, USCIS sends you a letter that you that you are eligible and to schedule an interview (or you can call Customer Service at 1-800-375-5283 for the status of your application). You need to show this proof when you take the written police test. In other words, they will not let you take the police test until you get a written letter from USCIS.

You have 3 years after you are employed as a cop to go to the citizenship interview and to be sworn in as a citizen. Usually it takes less than a year.

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Got Controlled Interruptions?

Got Controlled Interruptions?

Speed Read

Let’s agree about one thing, Americans are taught by their parents, teachers,
and employers this powerful truth – Always, without exception – Finish-What-
You-Start, right?

How about the second great American rule? Always, without exception:

Look-Folks-In-The-Eye – when you speak to anyone. Why? It seals the bond of sincerely because somehow, evil folks – villains – cannot look you in the orbs when
they weasel, equivocate, tergiversate, and lie. Can they learn to look you…?

Law of Diminishing Returns

Bear with me, neuroscientific research at University of California, San Diego
August 2009, destroys the proof for continuing what you start, until the end.
It suggest we Break-It-Up, have Time-Outs, Controlled Interruptions - for optimal results.

Wait. If there is one thing polls indicate with 100% results one way, and none the
other, is we universally hate commercials. When an ad blocks my web page, it sets
my teeth on edge, and causes cortisol, the stress hormone to flow for fight-not-flight.

Dr. Leif D. Nelson, has published unexpected results in the Journal of Consumer Research, volume 36. In a nutshell, Homo sapiens adapt quickly to new good and bad circumstances.

The fancy word is Habituation: after a number of exposures to anything – great music, brilliant lectures, and tv without commercials, our brain stops flushing itself with the pleasure neurotransmitter – dopamine.

And we stop paying attention. The stimulus just does not register anymore. Our pleasure begins to plateau through excessive familiarity. Our feelings habituate.

So What

In love the first time is Magic, the second time, lively, and the third time, merely
routine. And our brain hates routine, and just plain ignores the stimuli.

Dr. Nelson goes on to say, tv commercials improve (see fMRIs) our enjoyment of
the show because it interrupts the adaptation factor of the brain.
Could even geniuses have a limited attention span, and after the climax, it is all-downhill?

When there are no commercials engineered to interrupt the flow, folks break up
the uniformity by getting up for a liquid refreshment, share a telephone call, or
hold a lively conversation with a co-participant. Is it a subconscious act?

Coda

If you want to learn new knowledge or skills faster, with improved long-term memory, and powerful attention and concentration, do not finish-what-you-start.
Tell me, does this apply to school kids learning, or executives in their career track, or both? Right, both.

New Rules
Start it, go for ten-minutes, and stop. Do another unrelated activity, and return to the original learning, writing, reading or listening for another fifteen-minutes. You will feel refreshed and find new pleasure and originality in your task afterward.

The secret to reducing habituation, adaptation, and diminishing results is called –
Controlled Interruptions. Make it new again.

Why do we have habituation? In order to tell apart between relevant, meaningful experiences, and trivia from the unchanging background. Example: adults and kids
stop gazing at a visual stimulus, the longer it is presented. The brain desires novelty.

Improved Attention Span

Everyone but Arne Duncan, new Secretary of Education, believes teenagers are lazy, spoiled, and have limited attention span. He is changing the name of former
President Bush’s education reform law from - No Child Left Behind, to Your Child’s Left Behind. No matter, we need at least one new strategy for better Attention Span.

Attention produces concentration, the skill to a new behavioral result. How?
when you are motivated by the jolt of something new and exciting that grabs your interest. Sex, winning the Lotto, and competition for a promotion causes strong concentration.

Concentrating

When you are really concentrating, your PFC (Prefrontal Cortex) Executive brain is swimming in chemicals, hormones and neurotransmitters that produce Pleasure.
Specifically, Google the neurotransmitter Dopamine the pleasure chemical.

When your attentions goes South, it means Dopamine levels drop, and your brain
looks for distractions to motivate new positive behaviors.

Secret Strategy

We want to integrate your left (logic, linear, language) hemisphere, with your right (pattern recognition, spatial skills, holistic thinking and intuition)
hemisphere. Your Two Hemispheres in harmony and homeostasis, is three-times more powerful than either alone.

Take out a pen and begin to doodle the Infinity Symbol, a reclining
figure 8 with your dominant hand – for 90% of us, you use your right hand.
Draw them in a series of ten, one under the other, and about two inches wide and two-inches long. Let your eyes widen as you look at your drawings.

Now switch to using your left hand to draw a series of ten more infinity symbols. Remember, your left hemisphere controls the right side of your body, and your right hemisphere runs the left side of your body.

In the two-minutes it takes, you integrate (unite) both hemispheres for increased
attention, concentration, and long-term memory. The goal of this exercise is to
widen your eye-fixation by accessing your Peripheral Vision for reading and comprehend three-words at a time instead of just one.

Endwords

The world economy is rocky and disruptive. The U.S. Gross Domestic Product
will not improve substantially until this time 2010. Is it important to have personal
growth for competitive advantage? Please recall that in the 1930s unemployment was up to 24%.

Only World War Two and the manufacturing of military supplies took up the labor slack. Today, March 2009, the U.S. has unemployment of approximately 11 million
or almost 8%. However, employment in the U.S. is 144 million.

We must help the unemployed citizen to save his home and regain their economic livelihood, but never forget there is a healthy market of 144 million with money to
spend for goods and services.

We suggest you would be more competitive by reading and remembering three (3)
books, articles and reports, while your peers can hardly finish one. Personal growth
creates a definite competitive difference. Ask us how you can dominate this economy.

Speed Read
copyright © 2009
H. Bernard Wechsler
www.speedlearning.org hbw@speedlearning.org 1-877-567-2500

About the Author

Author of Speed Reading For Professionals, published by Barron's;
business partner of Evelyn Wood, creator of speed reading, graduating
2 million, including the White House staffs of four U.S. Presidents.

San Diego Superior Court judge retires

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How do you find and get a high paying job?

I am 26 and graduated college with a BA in political science nearly 5 years ago. I was always a great student and when I graduated college it was cumlaude and as a member of two national honor societies. I spent a year at law school but left because I don't want to be a lawyer and that is a field almost completely devoid of morals.

So far I have had no luck though in finding any good jobs. I tried the State employment agency, but they were no use. The want ads are full of menial labor jobs, and the vast majority of online job postings are either for sales or tech jobs that I'm a) not qualified for or b) absolutely not interested in. Large corporations' websites have employment pages with a few openings but every time I turn in my resume I get either no response or a rejection.

So my question is, how does one find the good jobs? They don't seem to be listed anywhere that I have looked and I'm getting desperate. I know I can do most anything, just chance to prove it. Please help!

(Excuse my poor grammar)

What I heard is 80% of the "best" Jobs are unheard of. The "best" jobs are the ones people get through promotions or networking. You have to work you way up or start networking. Make a 100 business cards and go to public company events and start networking every single day. One day someone is going to call you up asking you to bring your resume for a opening you would have never saw in the ads. I say the "best" in quotes because there are people who had accounting jobs for 60k a year and quit because they where bored and took a 35K job as a cop or teacher.

How to find recession proof jobs

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Employee handbook seminar offered to local businesses
Sparta The employment and labor practice group at Laddey, Clark & Ryan, will present a half-day employment law breakfast seminar for small and mid-size employers on “Personnel Policies and the Employee Handbook” on Tuesday, Sept. 14 at the Embassy Suites in Parsippany.
NGATV -- Child Employment - Food Industry

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Unemployment Benefits?

Ok, i am in Texas and its a "right to work state". Now two weeks a go a fellow employee was fired, then asked to resign. She wrote a letter of resignation because they threatened not to pay her PTO. Then this week they came in and did the same for me. Telling me that I was conspiring with her to draw up a law suit, and continued to accuse me of stealing. Which i would never do. Then asked me to sign a paper that said I did all of the above and that I have ended my employment. I refused to sign and left. They have down in their books that my last day of work was actually three days before the above conversation took place. Now they are telling me that I need to turn in a resignation letter so the above reasons are not put in my file for termination. Is this legal? I feel like this is black mail and they are trying to cover their tales so I can't file for unemployment, or draw a lawsuit. But technically they fired me with out a reason since I wasn't notified for three days. Any help?

Several points of interest..

1) I refused to sign and left.: did you LEAVE or were you told you were fired to leave..

if you left on your own on the BELIEVE they were going to fire you.. then they can claim you abandoned the job... if however you were told to leave and that you were termed you should be good

2) NEVER sign any admission to guilt unless you are under the advice of a lawyer.. simply don't sign it..

3) who cares what they have in their books either as the last day or cause for leaving.. they can't communicate the cause of termination without facing slander (or defamation i always get em confused) cases.. so all they can really say is you did work there you don't anymore.

they will in all probability contest your unemployment... it will go to a phone based trail with an arbitration judge.. and if they can't show just cause for you being fired.. (and no conspiring to setup a law suite is NOT justification) you will win and get unemployment back to the date of termination...

Carl Person 11-18-08 Air date

Americans Continue To Get Short-Changed On Overtime - Florida Overtime Wage Information

The Fair Labor Standards Act requires most employers to pay their employees one and one half times their regular rate of pay for any hours worked in excess of forty (40) hours per work week.  This law applies to employees who are being paid on a hourly basis, being paid a salary, and even those paid by tips, such as waitresses and bartenders.  Although this law seems simple and common sense, thousands of workers each day are not being paid their overtime pay by their employer.

A recent study found that the failure to pay overtime wages continues to occur at an alarming rate and affects many different types of wage earners.   In a report entitled “Broken laws, unprotected workers”, a joint report by the University of Illinois Center for Urban Economic Development, the UCLA Institute for Research on Labor and Employment, and The National Employment Law Project, it was determined that non-payment of overtime wages as required by the Fair Labor Standards Act, continues to be a huge problem for America’s workers.

Concluded in 2008, the study reviewed more than 4,000 workers in Chicago, Los Angeles and New York City.  The study found that the most common overtime violations were:

• More than 25% of the workers involved in the study worked more than 40 hours per week but were not paid one and one half times their regular rate of pay.  The average worker had put in 11 hours of overtime that were either not paid for at all, or not paid at the correct overtime rate.




• Off the clock violations - Close to 25% of the workers came in early, or stayed late after their shift ended.  Close to 70% of these people did not receive any pay at all for the work they performed once their regular shift ended.




• Meal break violations - Employers are required to provide a meal break.  Most of the people studied (86%) worked enough hours to be entitled to a meal break, yet were not allowed one.  Close to 70% received no meal break at all, or had their break shortened by interruptions from their employer or required to work during their lunch break.




• Tipped job violations - The Fair Labor Standards Act requires tipped employees to be paid their overtime pay for hours worked in excess of 40 hours per work week.  Of the workers involved in the study, 30% were not paid the tipped minimum wage, in addition to their overtime wages.

The study is somewhat alarming in that it involved so many workers nationwide, yet the overtime wage violations were so frequent.  These same types of violations occur in Florida with workers not being paid their Florida overtime wage.

If you have a question or need a free consultation to determine whether you are being paid the correct amount on your Florida overtime wage, contact Florida overtime attorney Joseph M. Maus at 1-866-556-5529 or email him today. Attorney Joseph M. Maus is an overtime wage claim lawyer specializing in Florida overtime wage claims.  Mr. Maus served has served as Class Counsel on some of the largest Florida overtime wage claims in recent history.

About the Author

South Florida Attorney Joseph M. Maus and Associates has been helping victims of injuries and accidents for close to 15 years. The firm prides itself on having the resources and experience of the largest state-wide law firms, yet providing individualized attention to each and every client.

Employment lawyers in Chicago, IL.Workplace discrimination.

My receptionist opened a letter addressed to me and read it to a staff member. Is this legal?

The letter was a complaint about this staff member, and of a confidential nature. My query is whether in a business situation this is covered by law or employment contract. Opening mail is part of her job, but reading mail out to non-addressed people is not.

Does she normally open mail as part of her job? If so, it wouldn't be right to fire her for merely opening the mail like she does every day. It is, indeed, illegal to open mail addressed to someone else. But if it was addressed to the company name, or this is something she does every day, I wouldn't think it would be right to use that as an excuse to reprimand her.

However, she did use terrible judgement by sharing a confidential communication. Why would she share something so hurtful with someone else? Seems like a pretty mean thing to do. I would definitely sit down and talk to her about it, and would probably write her up for it. The truth is, if you really want her fired you will find some 'legal' way to do it. Any employee who used such poor judgement in this specific situation is bound to have used poor judgment elsewhere.

111 Books about Resume Writing - Video review!

Chinese Leather Industry,from Small To Big,from Weak To Strong 20 Years Of Trials

  Founded in 1988, the China Leather Association has gone through two decades.

  Zhang Shuhua, director of China Leather Association, said the reform and opening up 30 years ago, China's leather industry in the world is firmly established its position as leather, the current due to international and domestic multi-storey complex factors, including the leather industry, including labor-intensive industry faces a very difficult development environment, which is the market economy and the global integration of the objective laws, we have leather industry has shown strong anti-risk ability, in recent years, still maintained a steady growth trend this year, industrial output and 1-5 months Exports maintained a double-digit growth, but a marked decline in growth rate, profit margins decreased significantly, but we firmly believe that the first two decades of this century, China's leather industry is still an opportune time, China's leather by the world's largest cross-country targets to power unshakeable.

  Promoting China's first proof of trade mark "leather logo" and "eco-leather leather logo"

      In 1994, the China Leather Association, the State Administration for Commerce and Industry officially registered certification mark "leather logo." After more than ten years of practice, "leather logo" has become the quality of the implementation of industry self-regulation, foundry industry, to cultivate the success of the brand model and platform, has been government, industries, enterprises and consumers generally recognized, and after another 14 countries in the world, for the registration. Earlier this year, "leather sign" English signs, certificates and "eco-leather leather sign" English is the official opening of the certificate, accelerated the internationalization of China's leather industry, the process of branding. Introduction of the first to cultivate and summarized characteristics of the region to enhance

      In 2001, the Leather Association took the lead in light industry, has launched the "China's leather industry on the awarding of the honorary title of the regional characteristics of the industry norm", after a strict examination, together with the China Light Industry Association, has awarded in Wenzhou, "China Shoes Capital", Haining "China's leather capital" such as leather feature the honorary title of the region, as well as the footwear industry in Jinjiang, Fujian, Liaoning, Tong Castle and the River South 2 slope fur industry, Hebei and Fujian Quanzhou baigou leather goods industry, and so on. Today, the national leather industry has developed different characteristics of regions and scattered production base in order to play advantage, the industry race to develop a new pattern.

      To create an international specialized exhibition leather industry

      Over the years, the active cultivation of China Leather Association International Leather Exhibition, China International Footwear Fair and the International Fashion and Fashion Accessories Fair.

      At present, the exhibition of China's leather industry has been the largest, highest level and country participants show up to the flagship brand, but also domestic and international leather, leather products, one of the most important sourcing platform. May 2007, in the China Light Industry Federation debut of "China Top Ten Brands light show", the China International Leather Exhibition, China International Footwear Fair and the International Fashion and Fashion Accessories Fair Bangshangyouming; same time, as exhibition organizers, China Leather Association, was awarded the "China Light Industry Top Ten Outstanding Organization Award Exhibition."

      The establishment of early warning systems for leather industry

      Post-WTO transition period after the leather industry is facing a more complex international trade environment, Leather Association stock of the situation set up an emergency response team. Since the establishment of emergency response teams, actively respond to the Spanish burning shoes, buckle shoes, Russia, the international animal protection organization is anti-fur campaign, the EU anti-dumping on Chinese leather shoes, Italian shoes, and other drug emergencies. Leather Association organized this year, "EU anti-dumping review of the training will be" in the anti-dumping policy and technical guidance and advice to businesses to enable enterprises to effectively deal with the upcoming review of the next round of proposals, to safeguard the legitimate rights and interests of China's footwear industry. Hosting the "World Leather Industry Co-operation and Development Forum"

      China Leather Association, 2007 initiated and organized the first "World Leather Industry Co-operation and Development Forum", advocating "the same world, the same leather." Leather industry in the world you have me, I have you, to form a worldwide chain of leather industry, Europe and the United States in the development of design and marketing channels have an advantage, China and Southeast Asian countries in labor and processing capabilities have advantages, advantages of different , division of labor is different from interacting with each other win-win cooperation, and eventually realizing the harmonious development of the world leather industry.

      China's leather industry above designated size enterprises directly employed more than 500 million people, together with its supporting industries employed over 11 million people, for the promotion of urban and rural employment, building a harmonious society has made a great contribution. Currently, China's leather shoe industry-wide annual output of nearly 10 billion pairs, accounting for 50%% of world output above; an annual output of 700 million square meters of light leather, accounting for 20%% of world output above; leather, fur clothing, leather goods Dengjun out top of world production. The turn of the century, China has become world-renowned leather-producing country, the world leather industry has contributed to the prosperity and development. Leather industry is currently the world powers into the leather.
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The Concept of Corporate Citizenship in a Global Environment

1.         Introduction

Over the past two decades, the forces of economic globalization, political transformation and technological innovation have increased the global reach and influence of the private sector. The number of transnational corporations has almost doubled from 37,000 in 1990 to over 60,000 today, with some 800,000 foreign affiliates and millions of suppliers and distributors operating along their global value chains. This process has conferred new rights and created new business opportunities for global corporations and large national companies, while also exposing weaknesses in national and global governance structures. It has also resulted in new competitive pressures and risks, and led to increased demands for greater corporate responsibility, transparency and accountability.

As a result, today’s business leaders face a complex and often contradictory set of stakeholder expectations. They are being called on to engage with activists as well as analysts, to manage social and environmental risks as well as market risks, to be accountable for their non-financial as well as their financial performance, and to cooperate as well as to compete, often with non-traditional partners, focused on unfamiliar issues. They are under pressure from governments, consumers, trade unions, non-governmental organizations and a small but growing number of their investors, to demonstrate outstanding performance not only in terms of competitiveness and market growth, but also in their corporate governance and corporate citizenship.

In short, corporate executives are faced with a complex, unprecedented challenge: How can they continue to deliver shareholder value while also delivering, and demonstrating that they are delivering, societal value?

2.         What is corporate citizenship?

The term ‘corporate citizenship’runs the risk of being all things to all people. But it does have some easily identifiable elements too. The basic idea is to understand business as part of society, contributing directly to the welfare of society, rather than somehow separate from it. Whereas in the past the baseline of good behaviour was ‘acting within the law’across the company’s operations, newer aspirations range from the maxim ‘do no harm’through to assessing ‘overall net impacts’. Companies need to go beyond simply obeying the law and making a competitive return for their shareholders if they are to respond to the challenge of citizenship.

Corporate citizenship invites companies to make strategic choices based on an understanding of the total impacts of their business in society. The practice of corporate citizenship involves a

focus on one or more of three main areas:

v     the societal impacts that flow from basic business policy and practice (as managed and measured through various codes of conduct, ‘values statements’and company reports);

v     the impacts that a company has up and down the value chain (e.g. when child labour is employed by its suppliers; or when end consumers dispose of its products in ways likely to harm the environment); and

v     the impacts that come from the voluntary contributions that businesses make to communities affected by their operations (including charitable gifts, community investment and commercial initiatives in the community).

Management and communication tools such as the ‘social audit’, development of key performance indicators on corporate citizenship, ‘benchmarking’best practice across a variety of industries, and best practice on ‘cause-related marketing’have all grown up alongside these core elements of corporate citizenship. Codes of  good conduct for companies abound, as do stamps or standards awarded by third parties, such as the Social Audit stamp of the Brazilian NGO IBASE, or the Social Accountability 8000 standard developed by the Council on Economic Priorities Accreditation Agency. The professionalization of environmental management has had an impact on the ‘new’tools of social management and accounting, accelerating the process of adaptation to the corporate citizenship agenda. But not all companies professing to be good ‘corporate citizens’choose to use all of these tools, and the current state of ‘corporate citizenship’varies from country to country.

3.         What drives Corporate Citizenship in a Global Context?

The emergence of ‘corporate citizenship’as a guiding principle for business strategy has been driven by a number of changes in the business operating environment. The overall process of globalization

affects all businesses one way or another.

Globalization has given rise to unprecedented links between economies, cultures, individuals and groups. Technological advances such as the internet have transformed communications. When multinational corporations apply different standards at home from those in their overseas operations, the gaps are exposed to external scrutiny as never before. The result is that the corporate

citizenship debate has acquired an increasingly significant ‘international’ dimension, raising one of the most difficult sets of questions in the current policy and business agenda: where does the responsibility of companies end and the role of governments begin, and by what (and whose) standards should this be judged?

Economic liberalization and deregulation have seen a massive increase in the flow of capital, goods and services across borders, opening new markets to foreign investment. At the same time the gaps between rich and poor around the world have widened and the world’s population is growing rapidly.

As privatization proceeds apace around the world, companies are increasingly responsible for providing services that were public-sector responsibilities in the past; areas such as healthcare provision by private companies and liberalization of energy markets focus more attention on the role of companies in the place of governments. The role of the private sector in provision of technical assistance around the world has also increased as corporations have become more involved in providing funding for intergovernmental bodies and as contractors in the delivery of donor assistance programmes. The overall balance of public- and private sector responsibilities is changing.

Globalization has given rise to new demands on corporations to exercise their power responsibly. There is a popular perception that in some markets the economic power and influence of corporations is much greater than that of the incumbent government. Some international NGOs have focused in on this, giving rise to new demands that companies investing in politically unstable economies such as the Sudan should use their power to encourage host country governments to spend the revenue that their investments generate for social benefit – not to wage wars or benefit political elites.

It is often pointed out that the turnover of the world’s largest companies is greater than the GNP of all but around 20 members of the United Nations. But individually even large companies account for only a fraction of global economic ouput: BP, Amoco and Arco together produce no more than 0.01%.

Globalization is not an entirely ‘neutral’ driver of corporate citizenship from a business perspective. Indeed, a powerful ‘backlash against globalization’ has now been set in motion, as witnessed by the public demonstrations surrounding recent World Trade Organization (WTO) and International Monetary Fund (IMF) meetings in Seattle and Washington.

Some proponents of corporate citizenship in the North see it as a way of countering the backlash against globalization – of reinvigorating the notion that trade and investment can bring overall social and environmental welfare gains. Encouragement of global corporate responsibility then becomes part of efforts to put ‘a human face on the global economy’.

One maxim seems to find resonance with all: that with power needs to come responsibility. Globalization, it is said, is transforming corporate responsibility from a choice into an imperative.6 But the extent of that responsibility remains a matter of hot debate.

4.         Commitments to Corporate Citizenship

There are numerous examples of commitments towards corporate citizenship. Many of them involve not only the private sector, but also the public sector and civil society organizations.

v     The Global Compact was proposed by the outgoing UN Secretary General, Kofi Annan, at Davos in January 1999. He called on business leaders to embrace and enact within their own corporate activities nine core principles derived from universally accepted agreements on human rights, labour and the environment. Today the Global Compact brings together several hundred companies, with some of the world’s leading trade union bodies, human rights and environmental organizations in a global learning forum, policy dialogues and variety of development projects. Companies engage in the initiative through the written support of their CEOs.

v     Tackling global health issues: The World Economic Forum Global Health Initiative (GHI) is designed to foster greater private sector engagement in the global battle against HIV/AIDS, tuberculosis and malaria. In cooperation with the World Health Organization and UNAIDS, the GHI brings together businesses, NGOs, civil society and academic institutions in a partnership, focusing on corporate best practices, resource gaps, partnership opportunities, philanthropy and the role of business in advocacy. The Global Business Council on HIV/AIDS is an international group of business leaders dedicated to advocating for an increased business response to AIDS both in the workplace and in the community. The Global Alliance for Vaccines and Immunization (www.vaccinealliance.org) was officially launched in January 2000 at Davos, with a mission of combining public and private resources and competencies to support immunization activities. It is a coalition of governments, the WHO, UNICEF and the World Bank; philanthropic foundations; the International Federation of Pharmaceutical Manufacturers Associations (IFPMA); and technical and research institutes.

v     Overcoming the digital divide: The ICT sector has engaged itself in a variety of policy dialogues and practical initiatives to bridge the ‘digital divide’ both within and between nations. Examples include: the G8 Digital Opportunity Task Force which consisted of leaders from the public, private and not-for-profit sectors; the UN’s multi-stakeholder ICT Task Force and the World Economic Forum’s Global Digital Divide Initiative. Business leaders are also supporting practical projects such as the Digital Partnership and Net Aid; and others such as those listed on the World Economic Forum website.

v     Investing in sustainable development: This has been an area of immense focus. The International Chamber of Commerce and World Business Council for Sustainable Development have established Business Action for Sustainable Development as a network and platform to provide business input and partnership examples to the World Summit for Sustainable Development in 2002.

v     Promoting good corporate governance: Business leaders are playing a role in several initiatives to promote good corporate governance. Examples include: The International Corporate Governance Network, pension funds and financial institutions with over $8 trillion in assets under management working towards global convergence on standards of governance; and business support for Transparency International to tackle corruption. Another aspect of good governance is the efforts to promote sustainability reporting such as the Global Reporting Initiative.

v     Corporate citizenship at the sector level: The World Business Council for Sustainable Development and UNEP have played an important role in promoting sector-based initiatives for sustainable development in industries as diverse as mobility, cement, pulp and paper, information technology, banking and finance. Other examples include the E7 network of electricity companies; the International Hotels Environment Initiative; and the Global Mining Initiative.

v     Supporting national development: At the national level business leaders are supporting initiatives focused on goals such as education, local enterprise and job creation, and rural development. Examples include: Philippine Business for Social Progress; the National Business Initiative in South Africa;  Instituto Ethos in Brazil;  Business in the Community in the UK;  and Landcare in Australia.

v     Engaging Tomorrow’s Leaders: Today’s business leaders are supporting networks such as the World Economic Forum’s Global Leaders for Tomorrow, which consists of young leaders from the public and private sectors and civil society, and AIESEC, the world’s largest student-run organization to promote sustainable development and corporate citizenship. A small but growing number of business schools have started to invest in research and teaching in this area supported by some CEOs.

 

5.         Progress of Corporate Citizenship in a Global Context

While the leadership challenge is especially apparent for executives in Europe and North America, it is also becoming a reality for many in Asia, Africa, the Middle East, and Latin America, especially those who aim to be global players – either doing business with or competing against the world’s top multinationals. Business leaders in each region are obviously influenced by different economic, social, cultural and political traditions, and different industry sectors face different types of corporate citizenship challenges. Despite these differences, the following trends in the concepts of corporate citizenship or corporate responsibility are common across geographic and sector boundaries:

1. From the corporate margins to the mainstream

2. From assertion to accountability

3. From paternalistic approaches to partnership

5.1.      From the corporate margins to the mainstream

In leading companies, corporate citizenship is moving beyond the boundaries of legal compliance and traditional philanthropy to become a more central factor in determining corporate success and legitimacy, with implications for corporate strategy, governance and risk management.

There is now growing recognition that global corporate citizenship is essentially about how the company makes its profits, everywhere it operates, not simply what it does with these profits afterwards. It is about how the company operates in three key spheres of corporate influence.

§         First, in its core business operations – in the boardroom, in the workplace, in the marketplace and along the supply chain.

• Second, in its community investment and philanthropic activities.




• Third, in its engagement in public policy dialogue, advocacy and institution building.

In all three spheres of corporate influence, the challenge for leadership companies is two fold:-

First, aim to ‘do minimal harm’ in terms of minimizing negative economic impacts, bad labour conditions, corruption, human rights abuses and environmental degradation that may result from a company’s operations. This is a goal that calls for management strategies such as compliance – with internationally accepted norms, guidelines and standards, such as the OECD Guidelines for Multinational Corporations and the UN Global Compact, as well as with national laws and regulation – and control of social and environmental risks, liabilities and negative impacts.

Second, aim to ‘do positive good’ in terms of creating new value for both the business and its stakeholders in the countries and communities in which it operates. This can be achieved through strategic philanthropy and community investment, which harnesses the company’s core competencies, products and services, not only its philanthropic cheques. Examples include, ICT companies supporting community projects to tackle the digital divide, financial companies supporting microcredit initiatives, and professional services firms sharing management expertise with local community organizations. More strategic, are efforts by companies to create new business value through developing new products, processes and technologies, and in some cases even transforming their business models, to serve untapped social and environmental needs, or facilitate entry into underserved markets. Examples include developing new markets for carbon emissions trading, creating new environmental technologies, and producing more affordable access to essential services such as clean water, energy, food, housing and medicines for the estimated 3 billion people who live on less than $2 a day.

A taskforce of the World Economic Forum, consisting of a group of over 40 CEOs and chairmen from 16 countries and representing 18 industry sectors signed a joint statement on global corporate citizenship. They agreed that: “The greatest contribution that we can make to development is to do business in a manner that obeys the law, produces safe and cost effective products and services, creates jobs and wealth, supports training and technology cooperation, and reflects international standards and values in areas such as the environment, ethics, labour and human rights. To make every effort to enhance the positive multipliers of our activities and to minimize any negative impacts on people and the environment, everywhere we invest and operate. A key element of this is recognizing that the frameworks we adopt for being a responsible corporate citizen must move beyond philanthropy and be integrated into core business strategy and practice.”

5.2. From assertion to accountability

A second key trend at the heart of the emerging corporate citizenship agenda is the growth in demands by stakeholders, including shareholders, for corporations to demonstrate greater accountability and transparency – and to do so not only in terms of their financial accounts and statements, but also in terms of their wider social, economic and environmental impacts.

Gone are the days when consumers, investors and the general public trusted all the information they received from companies and were relatively undemanding on what this information should cover in terms of corporate performance. In part this trust has been squandered by the recent series of corporate ethics scandals and governance failures. It has also been affected by a combination of increased democratization and press freedom around the world, easier access to more information through the Internet, greater public awareness of global issues through the media, increased consumer choice and sophistication, and higher societal expectations of the private sector.

In response to these trends, leading companies are being called on to be more accountable and more transparent to more stakeholders on more issues and in more places than ever before. In the wake of corporate governance and ethics scandals, there have been demands for greater financial accountability and transparency, resulting in increased shareholder advocacy and new regulations, such as Sarbanes-Oxley in the United States. At the same time, certain governments and stock exchanges are also calling for greater public disclosure on environmental and social performance, in areas such as carbon emissions, product safety, occupational health and safety, training and diversity. There are also growing calls for greater transparency on private sector engagement with governments on issues such as lobbying, financing political campaigns, payment of taxes and receipts of public procurement contracts and incentives.

In all of these areas, business leaders are facing new and challenging questions in terms of what to be accountable for, who to be accountable to, and how to actually measure and report non-financial performance in practice.

A number of global voluntary efforts are underway to develop standards, guidelines and procedures for measuring and reporting on corporate social and environmental performance. These range from multi-sector alliances, such as the Global Reporting Initiative, which is developing guidelines and indicators for public reporting on sustainability performance, to sector-focused efforts such as the Extractive Industries Transparency Initiative, which focuses on public disclosure of payments to governments by oil and mining companies, the Fair Labour Association in the apparel sector, the Equator Principles for project finance in the banking sector, and global framework agreements being negotiated between certain trade unions and global corporations. Growing numbers of Asian companies are engaging in these and other accountability initiatives.

5.3. From paternalistic approaches to partnerships

The third key trend in global corporate citizenship is a move away from more traditional, paternalistic attitudes that “the company and its senior executives knows best” to more genuine engagement, consultation and cooperation with key groups of stakeholders. There is growing recognition that the challenges we face, both as individual companies and nations and as a global community, are too great and too interdependent, and the resources for addressing these challenges too varied and too dispersed, for any one actor or sector to have all the solutions. New types of alliances between companies and other sectors, built on mutual respect and benefit, are becoming essential to both corporate success and societal progress.

The area of community investment offers a good example, where leading companies have moved away from traditional philanthropic approaches, focused on one way disbursement of charitable funds, to efforts aimed at engaging the core competencies of the company and building mutually beneficial partnerships between the company and non-profit or community organizations. Cisco Systems, for example, has been able to expand its Cisco Networking Academies program to over 10,000 academies in all 50 U.S. states and over 150 countries, working with partners ranging from the United Nations, the United States Agency for International Development and the Peace Corps, to local schools and nongovernmental organizations. In the Philippines, the Ayala Group has worked with Nokia, one of its key business partners, Pearson Education, the International Youth Foundation, the Department of Education, local authorities and parent-teachers associations to provide science materials to over 80 under-resourced schools. Just two of thousands of examples, through which companies, working in partnership with others, are providing education, training, and other opportunities to millions of young people and low-income communities around the world.

Some of the most interesting partnerships are in the form of strategic global or national alliances aimed at transforming not only individual corporate practices, but also influencing public policy frameworks and the broader enabling environment. National examples in Asia include the pioneering Philippines Business for Social Progress, the Thai Business Initiative for Rural Development and the Asia-Pacific Business Coalition Against HIV/AIDs.

In addition to community-level alliances between individual companies and nonprofit organizations, we are also witnessing the emergence of strategic global or national alliances aimed at transforming not only individual corporate practices, but also influencing public policy frameworks and the broader enabling environment. One example is the United Nations Global Compact, with over 2,000 corporate participants and some 30 national business networks, many of them from developing countries, working with UN agencies, trade unions and non-governmental organizations.

Through the power of collective action, the Global Compact seeks to advance responsible corporate citizenship so that business can be part of the solution to the challenges of globalization. It is a voluntary initiative with two objectives:

• Mainstream ten principles in the areas of environment, human rights, labour, and anti-corruption – all of which are based on international, intergovernmental agreements - into business activities and supply chains around the world;

• Catalyse business actions and partnerships in support of UN goals, especially the Millennium Development Goals.

Asian companies have been among the pioneers in supporting the Global Compact. In countries such as China, India, Indonesia, the Philippines, Thailand, South Korea and Australia, individual companies, stock exchanges, business associations and governments are starting to explore ways to implement the compact’s ten principles as core elements of sound business practice. In November 2005, the Chinese government will host a major Global Compact Summit, taking a vital leadership role at a time when global industrial capacity continues to shift to China and Chinese companies continue to increase their international investment and influence.

Concluding Remarks

Although local business conditions and cultures vary from country to country, the elements of what it takes to be a successful and sustainable business over the longer-term illustrate some common imperatives. Being a profitable, but also responsible corporate citizen is increasingly one of these imperatives. This requires business leaders to be committed to a set of clearly stated and publicly upheld values – underpinned by policies and standards that are applied everywhere the company operates, not only in its home market. It requires companies to have risk management systems and accountability structures in place to protect existing value, by minimizing any negative economic, social or environmental impacts and reputation damage arising from their business operations. It also requires companies to support learning, innovation and partnerships that help to create new value, by delivering new products and services that meet societal needs as well as creating shareholder value. And it calls for ongoing efforts to evaluate and measure progress and performance against each of these three areas.

In summary, regardless of industry sector or country, global corporate citizenship rests on four pillars: values; value protection; value creation; and evaluation. These four pillars not only underpin the long-term success and sustainability of individual companies, but are also a major factor in contributing to broader social and economic progress in the countries and communities in which these companies operate. Along with good governance on the part of governments, they offer one of our greatest hopes for a more prosperous, just and sustainable world.

About the Author

Surinder Pal Singh is currently Professor at Rai Business School, New Delhi. Prior to joining Rai Business School, he was associated with the corporate world for over a decade. He is a frequent speaker on the topics of B2B Marketing, Retail Marketing, Brand Management, Entrepreneurship, & Corporate Governance. His association with professional bodies include AIMS International, AIMA, DMA, ISTD, ISTE, Strategic Management Forum.

pre-employment reference/background check?

Many people have been misinformed that their previous employers can only release limited info such as job title, start/end date, rehireability. However, based on my accident exposure how companies do reference check, that is rarely the case. They release the reasons for resignation and in case of termination, why the employee was fired. They also release employee's salary.
Now, I am aware there is a law against this, but the law isn't that much followed. Anyone else know why so many people are misinformed?

While it is absolutely legal for a previous employer to furnish information's relating to termination etc., such information should be genuine and true. Furnishing of false information is illegal !!

General Motors Suspends Dividend, Cuts Salaried Employment Cash Cost by More than 20%