Fleeing Hope: A Lonely Portal to the Unknown
Let them in! Send them back where they come from! They will only ruin our economy! These phrases are frequently used to describe the boat people also known as Asylum seekers. Many come and go but what happens to them? Who is ‘them’ and what do they want? Australia’s boarders are breached by people known as the boat people but they are refugees fleeing from their country hoping to find a new life style of living. According to the United Nations Convention relating to the Status of Refugees, as amended by its 1967 Protocol (the Refugee Convention), a refugee is a person who is outside their own country and is unable or unwilling to return due to a well-founded fear of being persecuted because of their race, religion and political view. Approximately 8000 refugees come each year to Australia. However only 70-90% are genuine refugees. To describe these immigrants as ‘illegal immigrants’ is just a big lie. They are called criminals, but what exactly is there crime, perhaps abandoning everything and fled a war-torn homeland in search of a new life. The government’s response to these distressed and desperate people is only to send to them to a camp where ‘processing’ can take up to 5 years. What exactly is the government doing and how can the Australian public intervene? Too often we ask ourselves ‘what would we do if I was them’ or ‘where do they come from?’ But the thing is we all have human rights. Human rights are about everyone, including people who are not Australian citizens. Some of the human rights and freedoms particularly relevant to asylum seekers and refugees include the right, not to be subjected to arbitrary detention, torture, or cruel, inhuman or degrading treatment or punishment. However this is not the case at Australia’s borders. According to the government’s facts hundreds of children were held in immigration detention centres for long periods of time. One Cambodian boy was detained for five and a half...
...more and more people use creditcards nowadays and that the number of tragedies arising from bad debts has been surging over the past few years. Write an essay outlying the advantages and disadvantages of using creditcards, and at the end state your personal view. Give your essay a title.
Creditcards : friends or enemies?
When checking what you should put into your wallets before going to work, you won’t miss creditcards which are as vital as paper currency. Nowadays, creditcards are one of our daily necessities. Creditcards enable consumers to purchase commodities or services without having them make immediate payment. Yet what lay behind the pleasure associated with such a free purchasing pattern are a multitude of problems arising from bad debts.
Undeniably, creditcards enable consumers to enjoy more priced items and services which may help improve their living quality. A ‘quality living’, as perceived by many, ought not to be one comprising various commodities like smartphones, tablets, exquisite meals, clothes, and even travelling packages. But these sources of joyfulness carry a monetary value which is beyond people’s immediate paying capacity as they receive monthly salaries. Fortunately, there are creditcards enabling consumers...
...“CreditCard Companies and Mandatory Arbitration”
Mandatory arbitration clauses, which essentially strip consumers of their right to go to court, are becoming commonplace, with most consumers completely unaware of their existence or implications. The information is buried in the fine print or worse, simply tacked on to creditcard agreements, which most customers don’t even bother to read. If you did read through yourcreditcard terms and conditions, beyond the usual definitions of rates, late fees, annual charges, etc., you will find some interesting things and probably learn at least one new phrase: binding or mandatory arbitration.
Binding arbitration sounds intimidating, and it can be. By including a binding arbitration clause, the creditcard issuer is giving notice that if the cardholder has a dispute with the company (including identity theft, fines, penalty or late fee disputes, interest rate guarantees, etc.) he or she cannot sue the card issuer in court. Instead, the consumer must take the case to an arbitrator or judge.
In arbitration, a dispute is handled by a "neutral" third party that hears both sides and makes a decision. Just about any type of dispute, whether it's between a worker and an employer, a retailer and a customer, or an insurance company and a policyholder, can be arbitrated. Attorneys agree that arbitration has...
...and efficient at resolving corrupt accounts that Jonathan had Chris teach others his processes and techniques. Having earned Jonathan’s trust, Chris was given the number to the dummy creditcard. Providing further opportunity, Chris believed he could prey on the ignorance of others. Chris was far more skilled than Jonathan or any of his peers at resolving corrupted accounts, so how could anyone possibly judge or question Chris’s actions? Consequently, Chris could easily conceal his fraud.
Plutonium also had a weak control environment and poor control activities in place, allowing opportunities to flourish. There was no evidence of any tone at the top such as a corporate code of conduct, and Chris’s previous piracy misconduct went unpunished because Jonathan felt Chris was too valuable to reprimand. Both of these factors contributed to a weak control environment. Control activities around the use of the dummy creditcard number were also extremely weak: there was not a system of authorizations in place; there were no independent checks on Chris’s or anyone’s use of the number; there was a lack of physical safeguards around the number (it was written on a post-it and given out freely); there was a lack of documentation on the number’s use; and everyone was allowed to use the dummy creditcard number in a “live” rather than a “test” environment.
Along with perceived pressures and...
...consistent in the long run. With the growing number of vehicles in the country, the demand for fuel kept increasing. Another advantage was that the operators did not have to spend on advertising as GEZ would do it. There was no problem in dealing with customers as the price of fuel was fixed.
There were several disadvantages associated with petrol stations. First, the fuel business had a very low profit margin. It was important that operators managed their cash collection very well. In 2010, the cost of fuel was about 94% of the sale price. In addition, there was a product loss due to evaporation of fuel during filling. Another problem that petrol operators had to face was the increasing cost of creditcard fees paid to banks as more and more customers were using creditcards. The creditcard fee imposed by banks was 1% of the sales price.
DEVELOPING A CVP MODEL: THE CASE OF BARON SERVICE STATION
To begin the assignment, Rizal gathered the necessary data from Baron Service Station (BSS). The model that he would develop could be applied by petrol station operators of the same category. BSS was located in a city, in the northern region of Malaysia. It was one of the busiest petrol stations in the city with monthly average sales of about RM1.7 million in 2009. Of the amount, RM1.6 million was generated from the fuel business and the remaining from SelesaMart. Under the fuel business, the...
Launch the creditcard operation in Asia Pacific.
Use a customized marketing strategy/customized offerings; Focus on customer service;
Enter Australia, India, Indonesia, Philippines, Singapore, Thailand, Taiwan, Malaysia, India, and Indonesia; Further develop Hong Kong market; Enter Korea whenever regulations allow it.
Use different appeals/ value prepositions: in India, Indonesia, Taiwan, Thailand, Malaysia emphasize status; target upper and upper-middle class; use Citibank and Dinners database to qualify customers and minimize credit risk; create strategic alliance with high-end retailers, providers of luxury services; in Australia, Singapore, Hong Kong emphasize service, perks, value; use mass-marketing strategy; tailor the product to customers' needs; address the business community to enroll more retailers.
Employ multifaceted direct marketing; employ greenfield market development; use premium product pricing; use one processing center; Use trials/experiments to decide the best price/fee levels; modify the operation following best practices.
Citibank should launch the creditcard operation in the Asia Pacific since the proposal promises a great ROI as well as strategic positioning, increased company value, and the ability to market products to broader customer base. The initiative is a logical step for a number of reasons. First, the decision aligns with the...
...Disadvantages of CreditCards
Faculty of Management
Faculty of Management
Faculty of Architecture
December 28, 2011
Disadvantages of CreditCards
Thesis: It is argued that creditcards are beneficial for individuals however they bring many
financial problems, trigger consuming and cause psychological conflicts in long-term
A. Penalty rate
1. Late payments
2. Exceeding credit limit
B. Transaction fee
1. Interchange fee
2. Foreign transaction fee
A. Trigger effects
1. Consumer culture
2. Compulsive buying
B. Spending addiction
1. Compulsive buying behavior
2. Money attitudes
2. Self Esteem
Finance can be defined as an art which leads to maximize return against risk. Dramatically increase at industrialization required more specific management and revealed many departments of companies such as marketing, sales, human resources. Finance provides pecuniary resources to these departments and also are...
...mortgage on his home. Therefore, he can borrow an additional $87,500.
2. Louise McIntyre’s monthly gross income is $3,000. Her employer withholds $700 in federal, state, and local income taxes and $250 in Social Security taxes per month. Louise contributes $100 per month for her IRA. Her monthly credit payments for VISA and MasterCard are $65 and $60, respectively. Her monthly payment on an automobile loan is $375. What is Louise’s debt payments-to-income ratio? Is Louise living within her means? (LO 5.3)
Louise’s Gross Income
Less: Income taxes
Less: Social Security Tax
Less: IRA contribution
Net take-home pay
Her monthly payments on VISA, MasterCard, and a car loan add up to $500 per month. Louise’s debt payments to income ratio is 500 to 1,950, or 25.6 percent. This ratio exceeds the recommended 20 percent figure. Therefore, Louise is overextended. Her maximum monthly loan and creditcard payments should not be over $390.
3. Robert Sampson owns a $175,000 townhouse and still has an unpaid mortgage of $140,000. In addition to his mortgage, he has the following liabilities:
Personal bank loan
Robert’s net worth (not including his home) is about $35,000,. This equity is in mutual funds, an automobile, a coin collection,...
...Analysis of CreditCard Debt
1. Most creditcards require that you pay a minimum monthly payment of two percent of the balance. Based upon a balance of $5,270.00, what would be the minimum monthly payment (assuming no other fees are being applied)?
In order to find out what the minimum monthly payment would be we would have to
Multiply the minimum monthly payment percentage with the balance.
2% x $5,270.00 = 0.02 x $5,270.00 = $105.40
2. Considering the minimum payment you just calculated, determine the amount of interest and the amount that was applied to reduce the principal.
To determine the amount of interest and the amount that will be applied to reduce the principle we must use the formula, I = Prt. I = interest, P = is the principle or the balance, r = is the annual percentage rate, and t is the time frame. So, we will let P = $5, 270, r = 15.53%, t = 1/12 (1 represents one month out of 12 months).
I = (5,270)(.1553)(1/12) = $68.20, this is what the interest would be.
This means that I would be paying $68.20 towards my interest. In order to find out the
amount that is being applied to reduce my principal I subtract my interest from my
$105.40 - $68.20 = $37.20
This means that only $37.20 is going towards my actual balance.
3. Consider one of your creditcards. What is the balance? How is the minimum monthly payment determined? What would be the...