Credit Crunch :: Financial Crisis, Increased Interest Rates

Credit crunch, the sudden reduction in the availability of liquidity (loan or credit) in the financial market that lead to higher rates of borrowing, has occurred at 9 August 2007 ((National Council for Voluntary Organisations, 2010; Investopedia ULC, 2010; Anon., 2009). This mainly due to the housing bubble in between 2000 to 2007 (Xu, 2009) that dampen the confidence of financial institutions to lend which thus increased the interest rate by 20%, make it nearly impossible for companies to borrow (Xu, 2009; Buzzle.com, 2010; Investopedia ULC, 2010). This has therefore impact every form of business, as well as, the multinational enterprise - that based in one country, but has operate various business activities through a network of subsidiaries in one or more foreign countries (Hodgetts, R.M & Rugman, A.M., 2003) One of the multinational enterprises that being affected is Ford Motor Company, an automotive manufacturer, based in Dearborn, America which founded and incorporated by Henry Ford on 16th June, 1903 (Iloveindia.com, 2010; Anon., 2010). Prior to this credit crunch issues, Ford is aggressively on investing in foreign countries and acquisition of other companies. It has begun its foreign investment after the first manufacturing plant build in the small town of Walkerville, Canada on August 17, 1904. (Novelguide.com, 2010), and has started to take over other companies, such as Mercury, Volvo (Sweden), Aston Martin (UK) and a 33% of Mazda (Japan), after the first acquisition of Lincoln Motor Company in 1925 (Answer.com, 2010; The Super Cars, 2010). Furthermore, in the mid-1980, Ford has diversified into financial services, namely Ford Motor Credit Company (FundingUniverse, 2004; Anon., 2010), and has soon become the country's second largest provider of diversified financial services, ranking only behind Citicorp after take over The Associates, a Dallas-based finance company in 1989 (FundingUniverse, 2004). It has thus expanded the manufacturing, assembly and sales facilities in 34 countries (Freeonlineresearchpaper.com, 2009) which group in four principal regions – North America (parent country), South America, Europe and Asia Pacific (Ford Motor Company, 2008). In order to manage the huge organization smoothly, Ford seeks a balance between centralized leadership and decentralized implementation in its parent and host country (Bazak, et al., 1998.). Hence, the management in each region company has maintain a corporate jurisdiction, where, each had its own manufacturing processes , product development systems, suppliers, and other duplicative structures the regions along but still under the general supervision of the main office. (Ford Motor Company, 2008).

Reflective account on End-Of-Life Essay

Last year 23 September 2012. I had a resident called â€Å"Mrs X† she was a 72year-old widowed living at —, a Nursing Care Home. She’s not a religious type of person as she was Atheist. She has lived in the home for the past two years, and during that time I was assigned as her key worker. Mrs X had One Son and 3 grand daughters they are all regular visitors to the home. She has recently been diagnosed with renal failure, and her life expectancy is only a couple of months without dialysis. In the past Mrs X has made it clear that when her â€Å"time comes† she wants to be able to stay at Belmont House, and â€Å"go quietly†. She has stated that she does not want any treatment that will prolong her life. This means she has chosen not to accept dialysis. A planning meeting, involving Mrs X, her family and health and social care workers has taken place, and a care and support plan has been put in place to help Mrs X to live comfortably at Belmont House . This has included a discussion, led by Mrs X, about her wishes. She has made it clear that she does not want any medical intervention to prolong her life, and this has been recorded in an ‘advance care plan’. Mrs X’s 3 granddaughters are supportive but her son Mark has difficulty accepting the decision, however he realised it’s her mums decision and to respect her mum’s wishes. As well as input from her GP, Mrs X will be receiving regular support from specialist nurses to manage her symptoms and keep her comfortable. Day-to-day care and support will continue to be provided by the care workers. Mrs X’s granddaughters and Mark will spend time with their Mother each day. This was the first time since I began working at the Palliative care unit that I had been closely involved with someone who is dying, and I was upset and anxious about caring properly for Mrs X. My line manager was responsible for ensuring that I am properly trained and supported so that Mrs X‘s needs and the needs of her family are properly addressed. In our discussion with my line manager, I was chatted about my concerns, my feelings, and what I seen as the gaps in my expertise. Mrs X is becoming very tired, spending more time resting. Her skin is very fragile and the risk of skin breakdown has increased significantly. I was experienced and qualified care worker, but I and my colleagues need to be highly skilled in managing Mrs X’s skin so that it does not break down causing her addition distress. I was given by an additional training in this area so I feel confident and able to take proper care of Mrs X’s skin. My line manager always works alongside with me on demonstrated good skin care. This gave her opportunity to observe me, and to demonstrate best practice. She also talked to the nurse specialists, to find out if there are any particular creams or equipment that will benefit Mrs X, or if they have any other advice. My manager given me also a day course for End of life and supporting people to live and die well instantly so I managed to share to Mrs X situation and condition and it works. ï Å  One day she talked to me about her pass. She said when she was youth she had a puppy and 2years later the dog was died. She’s devastated and don’t know how to deal with it until a day she found out she has terminal ill. I found her one day she cried. I came to the situation of sadness and tearful however I kept in myself, and tried to control and showed my professional experience in dealing with it. I talked to her and cheered her up. I asked how was she spent time with her puppy? She smiled and said, lots of time she was enjoy with puppy walking to the fields together, when puppy was tired she open her tongue out and sit and very quiet. She’s smiled when she’s telling all about her puppy’s story. So I came to the point to ask her family. She’s quiet for a while, and then she said my family just came to visit me when I arrived here except my oldest granddaughter. They never visit me when I was at my home. I was interested to listen until she said, â€Å"one day I’m gone no one stay at my home except my oldest granddaughter. I was surprised which I known every time I saw her family came visited her they are smiled and very chatty to the staff. I went to the staff office and I recorded to the care plan and then I reported to my line manager the story. It was my day off when she passed away. My colleague texted me and I rushed to come and see her before the under taker take her away. I was devastated however I managed to talk to her family and offered their drinks and other basics they needs. Her family appreciated my time and hospitality. Until then, I was very aware and to look after well with the people dying. And also the relatives concerns and wishes. Sometimes, it wasn’t easy to talk about end of life issues but it’s important to do. Now that we’ve put our affairs in order and talked about what we want, we can â€Å"put that in a box† as it were, and get on with living one day at a time, cherishing each day together, as I know it’s going to end one day†¦

Battle of Wilsons Creek - Civil War - Missouri

Battle of Wilsons Creek - Conflict Date: The Battle of Wilsons Creek was fought August 10, 1861, during the American Civil War (1861-1865). Armies Commanders Union Brigadier General Nathaniel LyonColonel Franz Sigelapprox. 5,400 men Confederate Brigadier General Benjamin McCullochMajor General Sterling Priceapprox. 12,000 men Battle of Wilsons Creek - Background: As the secession crisis gripped the United States in the winter and spring of 1861, Missouri increasingly found itself caught between the two sides. With the attack on Fort Sumter in April, the state attempted to maintain a neutral stance. Despite this, each side began organizing a military presence in the state. That same month, Southern-leaning Governor Claiborne F. Jackson covertly sent a request to Confederate President Jefferson Davis for heavy artillery with which to attack the Union-held St. Louis Arsenal. This was granted and four guns and 500 rifles secretly arrived on May 9. Met at St. Louis by officials of the Missouri Volunteer Militia, these munitions were transported to the militias base at Camp Jackson outside the city. Learning of the artillerys arrival, Captain Nathaniel Lyon moved against Camp Jackson the next day with 6,000 Union soldiers. Compelling the militias surrender, Lyon marched those militiamen who would not take an oath of allegiance through the streets of St. Louis before paroling them. This action inflamed the local population and several days of rioting ensued. On May 11, the Missouri General Assembly formed the Missouri State Guard to defend the state and appointed Mexican-American War veteran Sterling Price as its major general. Though initially against secession, Price turned to the Southern cause after Lyons actions at Camp Jackson. Increasingly concerned that the state would join the Confederacy, Brigadier General William Harney, commander of the US Armys Department of the West, concluded the Price-Harney Truce on May 21. This stated that Federal forces would hold St. Louis while state troops would be responsible for maintaining peace elsewhere in Missouri. Battle of Wilsons Creek - Change of Command: Harneys actions quickly drew the ire of Missouris leading Unionists, including Representative Francis P. Blair, who saw it as a surrender to the Southern cause. Reports soon began reaching the city that Union supporters in countryside were being harassed by pro-Southern forces. Learning of the situation, an angry President Abraham Lincoln directed that Harney be removed and replaced with Lyon who was to be promoted to brigadier general. Following the change of command on May 30, the truce effectively ended. Though Lyon met with Jackson and Price on June 11, the latter two were unwilling to submit to Federal authority. In the wake of the meeting, Jackson and Price withdrew to Jefferson City to concentrate Missouri State Guard forces. Pursued by Lyon, they were compelled to cede the state capital and retreated into the southwestern part of the state. Battle of Wilsons Creek - Fighting Begins: On July 13, Lyons 6,000-man Army of the West encamped near Springfield. Consisting of four brigades, it was comprised of troops from Missouri, Kansas, and Iowa as well as contained contingents of US Regular infantry, cavalry, and artillery. Seventy-five miles to the southwest, Prices State Guard soon grew as it was reinforced by Confederate forces led by Brigadier General Benjamin McCulloch and Brigadier General N. Bart Pearces Arkansas militia. This combined force numbered around 12,000 and overall command fell to McCulloch. Moving north, the Confederates sought to attack Lyons position at Springfield. This plan soon unraveled as the Union army departed the town on August 1. Advancing, Lyon, took the offensive with the goal of surprising the enemy. An initial skirmish at Dug Springs the next day saw Union forces victorious, but Lyon learned that he was badly outnumbered. Battle of Wilsons Creek - The Union Plan: Assessing the situation, Lyon made plans to fall back to Rolla, but first decided to mount a spoiling attack on McCulloch, who was encamped at Wilsons Creek, to delay the Confederate pursuit. In planning the strike, one of Lyons brigade commanders, Colonel Franz Sigel, proposed an audacious pincer movement which called for splitting the already smaller Union force. Agreeing, Lyon directed Sigel to take 1,200 men and swing to the east to strike McCullochs rear while Lyon attacked from the north. Departing Springfield on the night of August 9, he sought to commence the assault at first light. Battle of Wilsons Creek - Early Success: Reaching Wilsons Creek on schedule, Lyons men deployed before dawn. Advancing with the sun, his troops took McCullochs cavalry by surprise and drove them from their camps along a ridge which became known as Bloody Hill. Pushing on, the Union advance was soon checked by Pulaskis Arkansas Battery. Intense fire from these guns gave Prices Missourians time to rally and form lines to the south of the hill. Consolidating his position on Bloody Hill, Lyon attempted to restart the advance but with little success. As fighting intensified, each side mounted attacks but failed to gain ground. Like Lyon, Sigels initial efforts achieved their goal. Scattering Confederate cavalry at Sharps Farm with artillery, his brigade pushed forward to Skeggs Branch before halting at the stream (Map). Battle of Wilsons Creek - The Tide Turns: Having halted, Sigel failed to post skirmishers on his left flank. Recovering from the shock of the Union attack, McCulloch began directing forces against Sigels position. Striking the Union left, he drove the enemy back. Losing four guns, Sigels line soon collapsed and his men began retreating from the field. To the north, a bloody stalemate continued between Lyon and Price. As the fighting raged, Lyon was wounded twice and had his horse killed. Around 9:30 AM, Lyon fell dead when he was shot in the heart while leading a charge forward. With his death and the wounding of Brigadier General Thomas Sweeny, command fell to Major Samuel D. Sturgis. At 11:00 AM, having repulsed a third major enemy assault and with ammunition dwindling, Sturgis ordered Union forces to withdraw towards Springfield. Battle of Wilsons Creek - Aftermath: In the fighting at Wilsons Creek, Union forces suffered 258 killed, 873 wounded, and 186 missing while the Confederates incurred 277 killed, 945 wounded, and around 10 missing. In the wake of the battle, McCulloch elected not to pursue the retreating enemy as he was concerned about the length of his supply lines and the quality of Prices troops. Instead, he withdrew back into Arkansas while Price embarked on a campaign in northern Missouri. The first major battle in the West, Wilsons Creek was likened to Brigadier General Irvin McDowells defeat the previous month at the First Battle of Bull Run. During the fall, Union troops effectively drove Price from Missouri. Pursuing him into northern Arkansas, Union forces won a key victory at the Battle of Pea Ridge in March 1862 which effectively secured Missouri for the North. Selected Sources Civil War Trust: Battle of Wilsons CreekNPS: Wilsons Creek National Battlefield CWSAC Battle Summaries: Wilsons Creek