12/30/2019 0 Comments Topic of expanding slavery Essay Example | Topics and Well Written Essays - 500 wordsTopic of expanding slavery - Essay Example William Lloyd Garrison, a respected proponent for ending slavery in the 19th century, spoke out on behalf of slaves by utilizing Gods will as a means to sway voters against the practice. In his work entitled Declaration of Sentiments of the American Anti-Slavery Society, Garrison states, "every American citizen, who detains a human being in involuntary bondage as his property, is, according to Scripture, a man-stealer" (wwnorton.com, 2007). What this suggests is that Garrison is attempting to use religious doctrine as a means to coerce plantation owners (or any other slave owner) to remember that God did not condone nor would he reward individuals who kept other men as their own property. With such a strong Christian-based faith system in 19th century America, individuals with the courage similar to that of Garrison were attempting to suggest that God would cast judgment on slave owners in negative fashion. When fear of God is instilled on faithful followers, the end result is typically a shift in values. Further, this appeared to be a time of reasoning, where intellectual prowess and improvements in the social condition of the nation were primary objectives for enlightened people (or at least those who believed they were sophisticated). When slaves were being kept in bondage, without access to books and higher education at that time, they were not becoming enlightened individuals (wwnorton.com). With such a large emphasis on intellectualism, Northerners began to realize, offering a rather subjective analysis, that unless these slaves received a proper moral and intellectual education, they would not become active and productive members of society. Imposing the belief in higher thinking, then, was another rationale that caused the shift toward freeing slaves, or at least preventing the expansion of slavery into the Western regions of the
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12/12/2019 0 Comments Financial management assignment Essay Example | Topics and Well Written Essays - 1500 wordsFinancial management assignment - Essay Example
the companies favor financial restructuring as the company can still be in the business and can avoid the legal problems associated with bankruptcy proceedings. The goal of a debt restructuring is to lower the interest payments and extend the terms of the loan in order to get through a bad patch and not to write off a companys debt. Companies considering the debt restructuring must first prove that their current market downturn is a temporary phenomenon and will ultimately past and the company will be able to resume profitability. Thus companies have to convince their stakeholders like creditors, bankers, and distributors that the company will be able to improve the financial condition with the new finance arrangements within a specified period of time. It is important that all the stakeholders actively participate in the preparation of the Financial Restructuring Plan. In some cases even after the Financial Restructuring plan is implemented the company would end up in bankruptcy due to dissatisfaction among certain group of stakeholders or due to bad execution of the Plan. Bankruptcy should be the last option for the companies as only about 15 to 20% of the companies are able to come out of bankruptcy and the cost of bankruptcy is pretty high. It is evident from the current Case study that the company is Over leveraged, that is the debt:equity ratio is very high. Financial restructuring would also be taken up by the companies which are Under leveraged. These companies raise debt to buy back shares. Financial restructuring can also be taken up when the company’s financial position is effected due to Sluggish sales or seasonal sales problems. Often company would raise debt to fund expansion projects but the expansion projects do not give the expected returns resulting in the defaulting of interest payments by the company. Financial restructuring helps the company improve its credit score, which would be useful if the company intends to borrow in future. |