Saturday, April 11, 2020
U.S. Switch to Metric System free essay sample
The United States Should Switch to the Metric System One crucial, yet widely unnoticed issue plagues the United States of America today: the country simply faces a stubborn unwillingness to convert to the metric system. America spends millions of dollars on keeping the U. S. customary system in place. The refusal to convert hinders the countryââ¬â¢s progress in the global economy. A conversion failure even sent a poor satellite hurtling towards destruction on the surface of Mars (Wheeler). The United States needs to convert to the metric system as soon as possible. The metric system consists of a decimal system containing units of volume, mass, temperature, and length in liters, grams, degrees Celsius, and meters. It stands as, by far, the most widely used unit system in the world. Gabriel Mouton of France created the original metric system in 1670 (MacLeod). The system spread through most of Europe by the mandate of Napoleon Bonaparte during his reign as Emperor of France (MacLeod)(Appendix A). We will write a custom essay sample on U.S. Switch to Metric System or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Since the beginning of America, people campaigned to use the metric system instead of the Customary System, which the United States inherited from Britain. Two of Americaââ¬â¢s presidents, Thomas Jefferson and John Quincy Adams, endorsed the metric system in the early years of the United States, but despite their efforts, they never managed to convert the country (Chapman). Later, in the 20th century, movements such as the Metric Conversion Act of 1975 and the Omnibus Trade and Competitiveness Act of 1988 were passed with the intention of enforcing the metric system. Today, the metric system has still not been established in America, despite multiple attempts to do so. The fight for the metric system has been occurring for hundreds of years, which seems like enough time for congress to pass at least one piece of legislation regarding the issue. Two hundred years ago, George Washington, the first president of the United States, articulated his desire for ââ¬Å"uniformity in currency, weights and measuresâ⬠(MacLeod). Since then, not much has changed. However, politicians in the past have given it their best effort. In 1975, the U. S. Metric Conversion Act, which encouraged the voluntary transition to the metric system by companies, was passed by Congress, but it faced the intense scrutiny of Americans who thought it was a gambit by Russian Communists to weaken America (Garfinkel). In 1988, the Omnibus Trade and Competitiveness Act was passed, requiring all government agencies to use the metric system, though only 22 of 37 complied (Chapman)(Appendix B). This law, however, is still in effect. This means that not only is it foolish not to use the metric system, it is also illegal in the public sector. Most other countries in the world mandated the metric system years ago, but when they did it, their citizens actually listened. Why does the United States still cling to the U. S. Customary System of Measurements, while all the other countries in the world, excluding Liberia and Myanmar, follow the metric system (Bohren and Strauss)? Credence can be lent to the assumption that if everyone else is doing something, then there is very likely a good reason, and it is best to follow suit. Most of the world uses the metric system; therefore, in order to keep up with the world, especially in terms of trade, it is necessary that the United States convert to the metric system as well. As Michael Chapman said, ââ¬Å"international trade involves metric-sized products. â⬠Applying the metric system to U. S. trade will create new jobs for the new markets created and increase trade by an estimated 20% (Chapman). Metric-sized exports will particularly increase trade with Canada, Mexico, and many European countries, which have already mandated the metric system and have no need for the current U.S. exports measured in inches and feet (Chapman). Currently, such countries do not like trading with the U. S. due to the complexity of its measurement system and the conversions that must be made. Americans, however, seem to think that the metric system is the one that complicates things. If there is one thing Americans love, it is simplicity. For this reason, it is surprising tha t they would choose to keep around an archaic system of weights and measures whose definitions and conversions are murky even to the most intelligent people. The metric system is much simpler than the English Customary system; everything is a multiple of 10. One meter is equal to 100 centimeters, which is equal to 1000 millimeters. Water boils at 100 degrees Celsius and freezes at zero degrees Celsius. One centimeter cubed is equal to one milliliter. It is a very simple system with conversions that are easy to compute and easy to remember. Meanwhile, English Customary System units do not convert so easily. One gallon is equal to eight pints. One yard is equal to three feet. One mile is equal to 1,760 yards. One foot is equal to 12 inches. Water boils at 212 degrees Fahrenheit and freezes at 32 degrees Fahrenheit. These conversion factors are all based on different numeral values and are extremely difficult to remember. Along with that, there are several random and silly extra measures of weight and area such as tons and acres, which just add more values to remember. According to a National Review article from 2011, the English Customary System is in fact so inconsistent that its units have been defined in terms of metric units since Grover Cleveland was president. If Americans truly value simplicity, then the logical step would be to simplify measurements and switch to metric. Along with love of simplicity, Americans also hate confusion. An article from 1994, in the Associated Press, gives another reason against the metric system; the Government Accountability Office (GAO) found that the majority of Americans were concerned it could be confusing (Associated Press). The majority of Americans, it appears, do not like change, and would rather struggle with their medieval English Customary System than switch to a better, albeit different, metric system. It is true that the new units will take some getting used to, especially to those who have spent their entire lives with the English Customary System. It is also true that some people may be ripped off or swindled due to their lack of understanding of value per unit. However, the human brain has an amazing capability to change and as a result, most people will catch on to the new system soon enough. Over time, as new generations are taught in the ways of the metric system and the intransigent older generations die off, the metric system will become the norm, leaving the English Customary System as nothing but a relic. Hopefully the younger generations will have minds open enough to see past the financial barrier of switching to the metric system, and on to the benefits it entails. The United States of America is currently trillions of dollars in debt, so it seems that right now the last thing the country needs is another huge, money-consuming project. Switching to the metric system would be just that. In order to completely metricize the country, all remnants of the English Customary System would be cast away. That means millions of dollarsââ¬â¢ worth of machine parts, tools, electronics, and English Customary System-measured products would be wasted. Almost every tool involved in manufacturing would have to be modified, replaced, or repurposed. ââ¬Å"The Nuclear Regulatory Commission estimates that it will cost the agency $2 to $3 million to convert to metricsâ⬠(Chapman). That is two to three million dollars to convert just one of hundreds of government industries. Added up, it would cost the United States government untold billions of dollars to convert to the metric system. However, an important thing to recall regarding this situation is NASAââ¬â¢s Mars Climate Orbiter, which in 1999 went careening off course and was either destroyed by Marsââ¬â¢ atmosphere or lost in space. This was caused mostly by a simple failure to convert units from English Customary to metric (Wheeler). The loss of the $125 million satellite was one blunder out of the multiple potential blunders that might occur due to the United States continuing to use the English Customary System. If things continue the way they are going, over time, these mistakes will add up to more than the billions of dollars it would take to metricize the nation. Should the United States switch to the metric system, it is also probable that the aforementioned trade benefits from doing so will eventually outweigh the cost of conversion. As an added bonus, to make the switch, thousands of new jobs will need to be created to make new parts and adjust machines. This will decrease the high unemployment levels that are plaguing the nation, and the economy will be boosted by the influx of money from the newly employed individuals. Overall, the future will be brighter and more profitable than the traditions which the United States holds on to. Tradition weighs heavily in the actions and decisions of Americans. Citizens of the United States try to evince the spirit of patriotism by holding onto traditions in whatever way then can. One of those traditions is the English Customary System, which has been a part of America since it began and can almost be considered a part of the culture. The English Customary System is all that many people know in terms of systems of units. It does not matter if it is not the best system in the world; it has been around since the start and the common mentality stands that, ââ¬Å"If it ainââ¬â¢t broke, donââ¬â¢t fix it. â⬠To convert to the metric system would mean that, ââ¬Å"Workers would have to be retrained, tools replaced, machinery modified, map distances changed, etc. Food and clothing sizes would change. Everythingâ⬠(Chapman). Nobody wants to go through all that, especially when he or she is committed to a system that is hundreds of years old and a part of their countryââ¬â¢s culture and patriotism. However, that may not be the most patriotic mindset to have. In reality, many of the founding fathers and first presidents, the original patriots, were opposed to the English Customary system and rallied behind the metric system to be the national standard (MacLeod). So, in essence, to be truly patriotic would be to follow the standards set by the founding fathers and support the metric system. Despite the fear that surrounds change, changing the United Statesââ¬â¢ culture will not necessarily a negative outcome. Cultures change all the time to adapt to the current era. It used to be within the boundaries of propriety to own African people as slaves. That is now neither socially acceptable nor a part of American culture. The majority of people view this as a pleasant change. The same thing applies to metric conversion. Should the United States convert to the metric system, it too will become part of the countryââ¬â¢s culture and many people will regard it as a pleasant change as well. In the current world, it is imperative that the United States convert to the metric system. The rest of the world uses it, it is a simpler system, and it is mandated by law in America for many agencies. One can argue that the metric system will confuse Americans, that it will be too expensive, or that the traditions of the past must be upheld. However, all of these issues can be circumvented with a little forward thinking. There is no obstacle that the United States cannot overcome as a country, so why should the barrier between different unit systems stand as one not yet hurdled? The answer is simple; it should not. The barrier needs to be broken and the metric system needs to be let into this country, if not because it is the smart thing to do, at least because it is the American thing to do. Appendix A ââ¬Å"Later, as his armies fought their way across Europe, Napoleon forcibly imposed the system most of the world uses today. â⬠Appendix B ââ¬Å"The law in question concerns the use of the metric system of weight and measure as enacted by the Metric Conversion Act of 1975 and amended in the Omnibus Trade and Competitiveness Act of 1988. This amendment on metric usage (Public Law 100-418, Section 5164) declares that the policy of the nation is to designate the metric system as the preferred system of measurement for trade and commerce, and requires each federal agency to use metric units in all or as many of its procurements, grants, and other business-related transactions as is economically feasible by the end of fiscal year 1992. According to a report by the Congressional Research Service at the end of fiscal year 1992, the Justice Department does not appear to be complying with the [metric usage] law. The Justice Department is not alone.
Tuesday, March 10, 2020
Free Essays on Roman Times
From early times right down to the 3rd century A.D, the Roman army was based on its legions. A legion varied in strength from 4,000 to 6,000 men, and was subdivided onto ten cohorts. Its leader used the title of legatus. His staff officers were called tribuni. Senior non-commissioned officers were called centurions, who varied greatly in rank. The soldiers of the legion were picked men: They were all Roman citizens and received a higher pay than the auxillary troops - that is, foreigners who serve with the Roman army. A legion consisited of heavily armoured infantry (foot soldiers). The Roman infantry became a feared force, well disciplined and well trained. Their weapons were two pila or javelins each and a short thrusting gladius or sword. Cavalry was supplied by the auxilaries ( second line troops ) and was organised mainly in units 500 strong. When it was on campaigns the army was accompanied by a number of specialists. One was the camp commandant, who was responsible for the organisation of the camp. The Romans were very careful about their camps - no Roman army halted for a single night without digging a trenches and fortifying its camp. Each soldier took his share in establishing the camp and striking the camp the next day. Another specialist was the quaestor, whose duty was to look after all the money matter. then there were the engineers and all kinds of craftsmen and artisans. They were responsible for siege operations and for the rather primative Roman"artillery", which consisted of big catapults and complicated machines a little like crossbows. These were mainly used for hurling big rocks and stones at the walls of a defence place. The engineers also had to build the moveable towers that were used in sieges - the Roman soldiers went up inside these towers so that they could see over the walls of a fortified! place and shoot their stones and arrows into it. The engineers also made the scaling ladders that were used for ... Free Essays on Roman Times Free Essays on Roman Times From early times right down to the 3rd century A.D, the Roman army was based on its legions. A legion varied in strength from 4,000 to 6,000 men, and was subdivided onto ten cohorts. Its leader used the title of legatus. His staff officers were called tribuni. Senior non-commissioned officers were called centurions, who varied greatly in rank. The soldiers of the legion were picked men: They were all Roman citizens and received a higher pay than the auxillary troops - that is, foreigners who serve with the Roman army. A legion consisited of heavily armoured infantry (foot soldiers). The Roman infantry became a feared force, well disciplined and well trained. Their weapons were two pila or javelins each and a short thrusting gladius or sword. Cavalry was supplied by the auxilaries ( second line troops ) and was organised mainly in units 500 strong. When it was on campaigns the army was accompanied by a number of specialists. One was the camp commandant, who was responsible for the organisation of the camp. The Romans were very careful about their camps - no Roman army halted for a single night without digging a trenches and fortifying its camp. Each soldier took his share in establishing the camp and striking the camp the next day. Another specialist was the quaestor, whose duty was to look after all the money matter. then there were the engineers and all kinds of craftsmen and artisans. They were responsible for siege operations and for the rather primative Roman"artillery", which consisted of big catapults and complicated machines a little like crossbows. These were mainly used for hurling big rocks and stones at the walls of a defence place. The engineers also had to build the moveable towers that were used in sieges - the Roman soldiers went up inside these towers so that they could see over the walls of a fortified! place and shoot their stones and arrows into it. The engineers also made the scaling ladders that were used for ...
Sunday, February 23, 2020
Ray Ban Sunglasses Essay Example | Topics and Well Written Essays - 750 words
Ray Ban Sunglasses - Essay Example It is important to bring to your notice that these designer wear prescription glasses help improve not only your vision but also ameliorate the eye strains. This is the forte of this brand as they offer Glass or polycarbonate lenses offer 100% UV protection. Ray Ban glasses always attract the customers without a second thought. Their new strategic media campaign for Spring/Summer 2007 "NEVER HIDE," is full of thought provoking innovativeness which happens to be the brand's benchmark. In its every form, the RAY-BAN campaign portrays regular guys and girls living their day to day lives with authenticity, with the courage to express themselves and their unique individuality, because the most fashionable thing to be is your self. Recently the company launched its campaign in New York and briefed its customers through a press release and said: "Ray-Ban has a rich history and an iconic personality that is authentic, real, bold and stylish. Ray-Ban has always created trends not followed them: authenticity and legacy mean something while flash and sparkle will come and go. But Ray-Ban is forever."(1) It speaks of timeless nostalgia. The elegance and subtlety of its design makes it an all time collector's item. For instance: the heavy metal Aviator series are unisex and look well proportioned on any face. Likewise the brand does not pose off cheap ritzy glasses that become dated after a while. The beauty of possessing a Ray Ban is the endorsement of its simplicity in design. Real trendsetters, real opinion leaders, real individuals believe the most fashionable thing you can be is yourself; to be authentic, real, bold and stylish. So to reclaim its rightful place as the legitimate leader of sunglasses, Ray-Ban has to only speak and act like their maverick selves. No wonder why all stylish models and celebrities put them because these glasses epitomize class and breed. Ray-Ban has adorned thousands of famous faces in international films, helping create the myth that it is today. To further explicate the proposition of purchasing only and only Ray Ban can be evaluated and gauged through the following review by one of its customers: "They are the ones to rock n roll. They speak of the 70s-80s style. They are perfect for my face. I think it looks good on anyone. There is a big difference buying sunglasses in streets. You could feel the quality and comfort because they are 100% authentic ray-bans, made in Italy. So, therefore I recommend for the people to get it if you could handle this hot item!"(2) This clearly proves that these designer wear glasses are every style conscious person's dream wear and imply the rich aesthetic sense of its wearer as well. Their supreme quality construction, sophisticated designs, and premier features like polarized lenses and durable frames make them ideal for activities ranging from heavy duty sports to driving. Appearing in hundreds of inspiring Hollywood films and beloved by fashion fans worldwide, the name "Ray-Ban" has become an icon in eyewear. Therefore, the Company's much coveted motto endorses its high claims and makes it the world's undisputed top notch designer wear brand-making it a worthwhile purchase. "Never pretend. Never be afraid. Never give up. Never Hide."
Thursday, February 6, 2020
Concert review Essay Example | Topics and Well Written Essays - 750 words - 1
Concert review - Essay Example They can either play with a director or not depending on the occasion. This was the Concerto Stella Matutinaââ¬â¢s debut in the Rheingau music festival. The group was led by Rolf Lislevant, who is the groupââ¬â¢s baroque guitarist (Manson, 2013). Rolf Lislevant has had a major role in the development of early music performances. This he has done by not just using original music and period instruments, but he also reinstated missing elements of imprecision. This technique was well established and widely used when the music was originally composed. However, its use has become rare in the classic and baroque music. Lislevant was accompanied by two of his colleagues from Kapsberger Ensemble: Thoharald Johnsen a former student and compatriot and Bjorn Kjellemyr. They primarily played in Jazz style on the double bass, using the fingers instead of the bow. Thoharald Johnsen can also play the Renaissance lute, baroque guitar and chitarra battente (Buelow, 2004). The flagship location f or the Rheingau music festival was at the Kloster Eberbach, a former imposing monastery. The concert was sold out, and the attendance was up to one thousand people, who came together for a music session known as ââ¬Å"Early Music Meets Jazzâ⬠. The first concert took place in February 2012 in Australia. This concert was one of the most memorable and scintillating that has ever been witnessed in recent years. The change in the venue from their first concert which was done in a concert hall, to cavernous Basilica had some major impacts on several aspects of sound projection. This was mostly experienced with the lowest register instruments. The amplified bass experienced this as it generated a lot of reverberations and the baroque was most of the distinguishable. The brass instruments also at some point could not be heard through the acoustic space. However, this did not prevent players from rocking the concert as they took the problem as a motivation to play better. This gave thi s different concert much joy (Manson, 2013). The pieces that were mostly played dated back to the 16th century, which is very much close to the lutenistsââ¬â¢ remit. There were also two pieces from a field that is considered to have been rather neglected by recentà music composers. This is the Australian High Baroque which the Concerto Stella Matutina has made to be their own. One of the Australian High Baroque founding fathers is Johann Heinrich Schmeltzer. His Sonata a 3 was a slow graceful work which since Heinrichââ¬â¢s time has showed the Cornett playerââ¬â¢s technical abilities. During that time, the Cornett players were seen on the basis of virtuosity as equals to the violin. Then to the eveningââ¬â¢s main business, here the jazz started meeting the earlier music such as the performance of the Aria di Firenze composed in the 16th century. The composer of the lyrics is anonymous. The two guitarists with their fluid and crisp flow of rhythmic precision alternating improvisation and melody vividly brought the out concertââ¬â¢s latest dance theme. This was subsequently supplemented by jazzy trombone. The second half started close to night fall with breathtaking music by Thor-Heralds Johnsenââ¬â¢s alteration of the Kapsbergerââ¬â¢s Toccata 2. This was developed by the seamlessly movement of Lislevantââ¬â¢s guitar through Aria Di Passacaglia by Frescobaldi to his electrifying arrangement of Passacaglia Andaluz by an anonymous composer. The two performances by Francesco da Milano were the main highlights of
Tuesday, January 28, 2020
Automobile Repair and Mechanics Essay Example for Free
Automobile Repair and Mechanics Essay Automobile repair is not only an interesting field to me, also I feel automobile maintenance is necessary knowledge to have in todays auto market. Like studying for school or learning the skills of a job; I feel knowing how to repair a vehicle will produce a cost effective lifestyle, and take out all the hassle anyone who owns a vehicle encounters everyday. How many Americans can change their own oil that dont work as mechanics, or what is the average repair bill for a same day repair are questions that bring concern to how becoming my own handyman makes a productive choice. I decided to explore the topic a little more to get a better understanding of the requirements to become an auto mechanic, for I have decided to become certified in Automotive Technology. According to the Bureau of Labor Statistics(definition)- an auto mechanic is a technician that inspects, maintains and repairs automobiles and light trucks that run on gasoline, electricity or other alternative fuels; like ethanol. Auto mechanics play a very important role in maintaining and keeping vehicles running efficiently. The field of auto mechanics reveals a long history, specialized schooling and strong career objectives for anyone that would like to choose this field as a career. There are certain requirements to become an auto mechanic, and a student can get the basics of automobile repair by taking a vocational class in high school. The course is not really considered training, but the class gives a basic knowledge of what mechanics do. To be considered a qualified auto mechanic; completing training at a post- secondary school like Pinellas Technical Education Centers or at a community college are the best choices, but the college aspect is not as much hands on as the secondary school. PTEC consists of 2 years of intense training(brochure), and the community college usually offers an associate degree for this field that also takes 2 years to complete the coursework. With these types of training, getting the most up to date training needed is essential; like using computer systems to detect problems with cars. Another form of training involves working as an apprentice to a master technician so questions are answered from experience . When all the formal training is completed a mechanic is considered certified when receiving a ASE Certification. This stands for Automobile Service Excellence Certification. The Bureau of Labor statistics suggests that individuals who live in large cities should get certified to help them with their search for jobs. An auto mechanics basic job function is performed in some type of repair shop, and working 40 plus hours a work is expected with such high volume of vehicles to work on. Sometimes work can continue into the weekend, along with performing work on the side to help earn some extra money. The working environment for the job involves identifying and fixing problems that deal with the car in a repair shop. Most of the time repairs are done indoors in a large, open garage like facility, including mechanics to get dirty due to all the grease repairs performed daily. These functions are real important that this does not bother someone who might want to do this as a job, for some of the grease and dirt is almost impossible to get completely rid of. Many shops have now included electrical technology as part of their services due to the fact that most cars have specialized computer systems. This new service has increased the mechanics skill level greatly (resource). Many repair shops rely on these computerized systems to help in identifying problems related to the car (Ly). The term auto mechanic is slowly fading away, and many mechanics are now being labeled as service technicians. The change in the name comes from the fact that working on many different parts of the car, and computer systems that require additional and more advanced training. Auto mechanics make a pretty good living. Starting out as a new auto mechanic the annual income will range between $25,000 $35,000. The next level mechanic could make $35,000- $45,000. After that the pay can be anywhere from $45,000 up to $100,000, for the higher pay range is for a Master Mechanic. It would be best to try and achieve the highest level of pay to make this job worthwhile. This is not exactly a goal that I am going to set forth for myself to achieve because simply auto work is all Im interested in. Many Master Mechanics work for luxury car manufacturers like Mercedes, BMW, Jaguar and Porsche. The future for service technicians looks very bright. For the next 3 years the auto mechanics field will see an increase close to 10- 20%. This increase is due to many technicians retiring, and due to an increase in cars being purchased. Dealerships and independent car repair shops will be the main employers of service technicians. The outlook continues to look positive for auto mechanics even though economic downfall is predicted to continue. In conclusion, auto mechanics is a very diverse field that requires complete dedication and skill to help become successful. Mechanics involves a long history, specialized schooling and the desire to achieve. Auto mechanics has evolved into a very complex and sometimes challenging field, and the future job outlook for this field is great and it is a very good choice for anyone interested in pursuing this career.
Monday, January 20, 2020
Shakespeares Othello - Iagos Deception as Catalyst for Truth Essay
Iago: Deception as Catalyst for Truth à The audience will achieve a more complete understanding of Iago in The Tragedy of Othello if Iago is viewed as a complex character and not simply as a conventional "villain."à Iago's devious schemes destroy lives both literally and figuratively, but they may also serve to reveal the character of others in intricate ways.à A critical interpretation of Iago reveals that although he is principally a deceiver, he is also a dramatic agent of truth.à Even though his acts are malicious and deceitful, the title "honest Iago" is fitting in the sense that he reveals the true nature of his victims, as well as the propensity for human beings to act in accordance with their inherently dark natures.à While based in deception, Iago's machinations expose the truth of Brabantio's hidden racism, Cassio's inner vanity, and Othello's repressed sexual possessiveness. Iago cleverly emphasizes the issue of race and its association with devilry when he and Roderigo announce to Brabantio that Desdemona has eloped with Othello.à Iago is the first to emphasize the biracial nature of the marriage by referring to Othello as an "old black ram" and to Desdemona as a "white ewe" (1.1.85-86).1à Iago then associates Othello with the image of "the devil" (88) because he is black, warning Brabantio that he has "lost half [his] soul" (84) now that Desdemona is married to Othello.à It is Iago who initially suggests that Othello exemplifies the stereotype that a black person is inherently evil and likely to be a practitioner of witchcraft.à Granted, it is unlikely that Iago's few brief statements give birth to Brabantio as a racist; yet by plaguing Brabantio's thoughts with a dialogue that feeds his natural tendency tow... ...ility to perceive Iago completely is the natural human tendency to deny that which is abhorrent in our own natures, and to find scapegoats on which to place the blame for our darker sides.à As a conventional villain, Iago becomes an easy scapegoat; we place the responsibility for the moral failings of others on his ability to manipulate and deceive.à Yet as an agent of truth, Iago's most meaningful revelation is that we tend to deny the reality that, as human beings, we all possess the propensity to judge what is foreign to us in racist ways, to esteem ourselves too highly, or to be sexually motivated and possessive.à Indeed, Iago has the "last laugh" in being "honest Iago" as an agent of truth-for he manipulates not only the characters, but the audience as well. Note 1. All references to Othello are from the Signet Classic Edition (New York: Penguin, 1998).
Sunday, January 12, 2020
Insider Trading Essay
Watching ââ¬Å"Martha, Inc. : The Story of Martha Stewartâ⬠finally made me realize what the whole scandal of Martha Stewart was all about. From what I learned, Martha Stewart, known as a television personality and famous multimillionaire, was ââ¬Å"indicted on securities fraud, obstruction of justice and conspiracy charges in an insider trading scandalâ⬠. Before this all started, she was happily baking cookies for children and making homemade arts and crafts for her friends. At the middle of 2003, she was sent for a five month term of prison. Insider trading was the crime Martha Stewart committed; she basically wanted to get ahead as CEO of her company.By definition, insider training is ââ¬Å"the illegal practice of trading on the stock exchange to one's advantage through having access to confidential informationâ⬠. ââ¬Å"Insider tradingâ⬠is a term that most investors would usually associate with illegal conduct. Illegal insider trading ââ¬Å"refers to buyi ng or selling a security while in possession of nonpublic information about the securityâ⬠. Apparently, based on articles I have read, Martha Stewart was told by her friend Sam Waksal that his company ImCloneââ¬â¢s cancer drug had been rejected by the Food and Drug Administration before this information was made public.Because of this, the price of his company's stock diminished quickly. ââ¬Å"The (Securities and Exchange Commission) SECââ¬â¢s job is to make sure that all investors are making decisions based on the same information. Insider trading can be illegal because it destroys this level playing field. Insider trading is only illegal when a person bases their trade of stocks in a public company on information that the public does not know. â⬠Clearly, Martha Stewart was a huge symbol of corporate greed. She wanted more money even when she had reached one billion dollars as her net worth.Stewart had lost about $400 million ââ¬Å"because of the company's declin ing value, legal fees and lost business opportunitiesâ⬠. To make a comeback, she made a camp again in 2005 which led to profits a year later. Stewart then rejoined the board of directors and became chairman of her namesake company again this year. She hasn't reached her full potential from before but is still catching up to it. (Sentences in quotes are from several Internet sources. No copyright infringement intended. )
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